In brief Strategy published new and updated investor metrics, saying its shift from convertible debt toward preferred-equity "digital credit" requires fresh yardsticks. The centerpiece, "net Bitcoin per share," measures the Bitcoin left for common shareholders after $22.3 billion in debt and preferred claims The firm also redefined mNAV under a new metric that restored it to its 1.0x par and recast "amplification" as a roughly 1.5x equity multiplier. Strategy has overhauled the metrics it uses to value its Bitcoin, rolling out a set of new "net" measures that strip out debt and preferred-stock claims to show how much of its stash actually belongs to common shareholders.
New and updated market metrics are live at https://t.co/yIv7IimRdf. As Digital Credit becomes a larger portion of our balance sheet, we've sharpened our precision based on investor feedback. This video walks through what's new and why.
00:00 - Intro to Strategy's new and updated… pic.twitter.com/ndCoDc9PDW
— Strategy (@Strategy) July 23, 2026
In a 30-minute video posted to its investor site, the company's head of investor relations Chaitanya Jain said the metrics had to "evolve" as the business moved "from an era of convertible debt to now a focus on digital credit," and pointed to investor demands for clarity. Executive chairman Michael Saylor put it more grandly, tweeting that, "Bitcoin Capital Markets require a new financial language."
The centerpiece is "net reserve," about $35 billion—what is left after subtracting $22.2 billion in senior claims ($15.5 billion of preferred stock and roughly $6.8 billion of out-of-the-money convertible debt) from Strategy's $57 billion Bitcoin pile (843,775 BTC) and $3.2 billion of cash. Dividing that residual by a new fully diluted share count gives "net Bitcoin per share," which the firm says has risen from $13 (44,000 sats) at the end of 2020 to $95 (143,000 sats)—a 43% compound annual growth rate, against Bitcoin's 16%.
The company also redefined mNAV as MSTR's share price divided by net Bitcoin per share, with the accretion threshold now fixed at 1.0x, and recast "amplification" as an equity multiplier—Bitcoin reserve over net reserve—of about 1.5x. New credit gauges frame the debt-fueled model's sustainability, with a "hurdle rate" of about 10.8% marking Strategy's effective cost of credit, a break-even rate near 3.2%, and a "flow rate" of about −11% that estimates how far Bitcoin could fall before reserves stopped covering debt and dividends.
The overhaul arrives with MSTR under pressure: the stock traded around $93 on Friday, down slightly on the day and far below its 2024 peak, days ahead of second-quarter earnings on July 30. Under the new formula, its mNAV reads right at 1.02x. Measured the old way—against Strategy's gross Bitcoin per share—the stock had looked to trade at a discount; dividing instead by net Bitcoin per share, after the roughly $22 billion of senior claims is stripped out, lifts the same share price to parity. It is Strategy's latest guidance tweak during a bear market that began last October; its flagship preferred share, STRC, still trades below its $100 “par value.”
The firm’s "digital credit" framing traces to a late-June pivot, when Strategy approved a framework for "active capital management" that, for the first time, authorized selling up to $1.25 billion of Bitcoin to top up its cash reserve, cover preferred dividends, and fund buybacks—a formal break from Michael Saylor's long-held "never sell" stance. In the weeks since, the firm has raised cash by selling MSTR stock rather than Bitcoin, sparing its 843,775 BTC stack while diluting common holders.
For now, Strategy's own math says the structure holds—as long as Bitcoin, currently around $64,000 and about 50% below its high, doesn't fall more than roughly 11% a year through the early 2030s.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Strategy published new and updated investor metrics, saying its shift from convertible debt toward preferred-equity "digital credit" requires fresh yardsticks. The centerpiece, "net Bitcoin per share," measures the Bitcoin left for common shareholders after $22.3 billion in debt and preferred claims The firm also redefined mNAV under a new metric that restored it to its 1.0x par and recast "amplification" as a roughly 1.5x equity multiplier. Strategy has overhauled the metrics it uses to value its Bitcoin, rolling out a set of new "net" measures that strip out debt and preferred-stock claims to show how much of its stash actually belongs to common shareholders.
New and updated market metrics are live at https://t.co/yIv7IimRdf. As Digital Credit becomes a larger portion of our balance sheet, we've sharpened our precision based on investor feedback. This video walks through what's new and why.
00:00 - Intro to Strategy's new and updated… pic.twitter.com/ndCoDc9PDW
— Strategy (@Strategy) July 23, 2026
In a 30-minute video posted to its investor site, the company's head of investor relations Chaitanya Jain said the metrics had to "evolve" as the business moved "from an era of convertible debt to now a focus on digital credit," and pointed to investor demands for clarity. Executive chairman Michael Saylor put it more grandly, tweeting that, "Bitcoin Capital Markets require a new financial language."
The centerpiece is "net reserve," about $35 billion—what is left after subtracting $22.2 billion in senior claims ($15.5 billion of preferred stock and roughly $6.8 billion of out-of-the-money convertible debt) from Strategy's $57 billion Bitcoin pile (843,775 BTC) and $3.2 billion of cash. Dividing that residual by a new fully diluted share count gives "net Bitcoin per share," which the firm says has risen from $13 (44,000 sats) at the end of 2020 to $95 (143,000 sats)—a 43% compound annual growth rate, against Bitcoin's 16%.
The company also redefined mNAV as MSTR's share price divided by net Bitcoin per share, with the accretion threshold now fixed at 1.0x, and recast "amplification" as an equity multiplier—Bitcoin reserve over net reserve—of about 1.5x. New credit gauges frame the debt-fueled model's sustainability, with a "hurdle rate" of about 10.8% marking Strategy's effective cost of credit, a break-even rate near 3.2%, and a "flow rate" of about −11% that estimates how far Bitcoin could fall before reserves stopped covering debt and dividends.
The overhaul arrives with MSTR under pressure: the stock traded around $93 on Friday, down slightly on the day and far below its 2024 peak, days ahead of second-quarter earnings on July 30. Under the new formula, its mNAV reads right at 1.02x. Measured the old way—against Strategy's gross Bitcoin per share—the stock had looked to trade at a discount; dividing instead by net Bitcoin per share, after the roughly $22 billion of senior claims is stripped out, lifts the same share price to parity. It is Strategy's latest guidance tweak during a bear market that began last October; its flagship preferred share, STRC, still trades below its $100 “par value.”
The firm’s "digital credit" framing traces to a late-June pivot, when Strategy approved a framework for "active capital management" that, for the first time, authorized selling up to $1.25 billion of Bitcoin to top up its cash reserve, cover preferred dividends, and fund buybacks—a formal break from Michael Saylor's long-held "never sell" stance. In the weeks since, the firm has raised cash by selling MSTR stock rather than Bitcoin, sparing its 843,775 BTC stack while diluting common holders.
For now, Strategy's own math says the structure holds—as long as Bitcoin, currently around $64,000 and about 50% below its high, doesn't fall more than roughly 11% a year through the early 2030s.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin long-term holders accumulated a record 1.29 million BTC over 30 days. This is the strongest reading in more than six years. Glassnode data shows long-term holders have returned to significant realized profits, a pattern that has historically preceded strong rallies. Bitcoin has rebounded about 15% and is approaching the $68,000 Short-Term Holder Realized Price, a key level that could determine the next short-term trend. Bitcoin’s longest-term investors are accumulating coins at the fastest pace in more than six years, while another closely watched on-chain metric shows these holders have returned to significant unrealized profits, a combination that has historically preceded major upward moves in the cryptocurrency’s price.
Data from CryptoQuant shows Bitcoin’s 30-day Long-Term Holder (LTH) Net Position Change surged to approximately 1.29 million BTC in late May, the strongest accumulation reading since the metric began tracking the cohort and higher than the previous peak recorded during the 2017 bull market.
Meanwhile, Glassnode data indicates long-term holders have moved back into healthy realized profits after Bitcoin’s recent recovery, echoing patterns seen before previous market expansions.
Together, the indicators suggest experienced investors continue to build positions despite recent price weakness, reinforcing the view that conviction among Bitcoin’s strongest holders remains intact.
Long-Term Investors Accumulate at Record Pace According to the CryptoQuant data, the LTH Net Position Change measures how much Bitcoin held by investors who have kept their coins for extended periods has increased or declined over a rolling 30-day window.
The latest reading shows long-term holders accumulated roughly 1.29 million BTC over 30 days, surpassing every previous accumulation phase since at least 2021 and exceeding levels recorded during the 2017 cycle.
BTC Long-Term Holder Data | Source: CryptoQuant Notably, the record buying occurred while Bitcoin was trading well below its recent highs, suggesting experienced investors viewed the pullback as an opportunity to increase exposure rather than reduce risk.
Historically, aggressive accumulation by long-term holders has often coincided with periods when speculative demand weakened but institutional and high-conviction investors quietly increased their positions.
Profitability Among Long-Term Bitcoin Holders Strengthens More on-chain data from Glassnode reinforces that trend.
The data tracks the realized profit and loss of long-term holders sending Bitcoin to exchanges using a 30-day moving average. The latest spike shows this group has returned to sizeable profits after Bitcoin’s recovery from recent lows.
Previous cycles have displayed similar patterns. Significant increases in realized profitability among long-term holders were observed before several major advances, including phases of the 2020-2021 bull market and earlier expansion periods.
BTC Relative Long/Short | Source: X While profitable holders can choose to take gains, the current environment differs because accumulation has simultaneously accelerated rather than weakened. That combination suggests many long-term investors remain confident in Bitcoin’s longer-term outlook despite short-term market volatility.
Although both indicators point toward improving market conditions, analysts caution that no single on-chain metric guarantees the start of a new bull market.
Long-term holder accumulation has historically been one of Bitcoin’s more reliable indicators of investor conviction because these wallets are generally less sensitive to short-term price swings than newer market participants.
KULR Technology Group just did something most corporate Bitcoin holders talk about but rarely execute: it sold a meaningful chunk of its stack to clean up its balance sheet. The company offloaded approximately 333 BTC between July 9 and July 23, generating roughly $21.5 million in gross proceeds to fully retire its $20 million credit facility with Coinbase Credit.
The average sale price landed around $64,538 per Bitcoin. For a company that built its holdings at a weighted average cost of approximately $108,884 per BTC, that math is, well, not flattering. But KULR’s play here isn’t about timing the market. It’s about eliminating debt before the facility’s August 2026 maturity date.
From peak holdings to strategic retreat KULR’s Bitcoin journey started in December 2024 with an initial purchase of 217.18 BTC for around $21 million. The strategy was aggressive from the start: allocate up to 90% of surplus cash toward Bitcoin acquisitions.
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Holdings climbed past 1,000 BTC by mid-2025, eventually peaking at 1,083 BTC as of March 31, 2026. The company wasn’t just buying with cash, either. It tapped a $20 million credit line from Coinbase to accelerate its accumulation, pledging 565 BTC as collateral.
What’s left in the treasury Post-sale, KULR holds approximately 760 BTC. But there’s an important detail: the company expects an additional 565 BTC previously pledged as collateral to be released now that the Coinbase facility is fully repaid.
For context, KULR is a NYSE-listed company whose core business involves energy management and battery safety technologies. The Bitcoin treasury strategy was always a side bet, a corporate conviction trade layered on top of an existing business.
The corporate Bitcoin playbook is evolving Selling 333 BTC at an average of $64,538 when you bought at a weighted average north of $108,884 per BTC is a realized loss of roughly $14.8 million on those specific coins. The alternative — rolling over a $20 million credit facility into an uncertain rate environment while Bitcoin prices remain well below the cost basis — carried its own risks.
The company now has a cleaner capital structure and still maintains significant Bitcoin exposure through its remaining 760 BTC holdings. If Bitcoin prices recover meaningfully, KULR participates in that upside without any debt service dragging on cash flows.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Anthropic announces the launch of its Opus 5 AI model.
Anthropic announced the launch of its Opus 5 AI model, which delivers performance nearly matching that of the cutting-edge Fable 5 while costing only half as much.
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Duan Yongping has sold SpaceX put options with a strike price of $92.
Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."
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The United States and the United Kingdom plan to discuss forming an international alliance to protect maritime shipping in the Strait of Hormuz.
According to AXIOS: European diplomats say the U.S. and the U.K. are discussing holding a high-level meeting in London next week, with the meeting focusing on a potential plan to establish an international coalition to protect maritime shipping in the Strait of Hormuz.
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Qualcomm notifies its customers it can no longer absorb price hikes, and will raise prices by double-digit percentages.
Bloomberg cited a letter reporting that Qualcomm has informed its clients it can no longer absorb price hikes and will implement double-digit percentage price increases. Following the news, BIT (bit.com) market data shows Qualcomm’s decline narrowed, while Nvidia climbed 1.2% to hit a new daily high.
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OpenAI CEO: Hopes the U.S. wins in the open-source AI sector, and is "pleased to see" Jensen Huang's remarks.
OpenAI CEO Sam Altman said he hopes the U.S. will lead in both open-source AI and proprietary AI models, adding that he "welcomes" the statement Nvidia’s CEO made on social media regarding the open letter jointly issued by over 20 U.S. tech companies.
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Jensen Huang’s X following list is expanding, with its current focus on CEOs of major tech companies and leading figures in the U.S. venture capital space.
Jensen Huang, after posting his debut on X, is currently adding accounts to his follow list. As of press time, Huang follows 35 accounts, six of which are part of NVIDIA’s official account matrix. The rest focus on CEOs of major tech firms and U.S. venture capital leaders, with an emphasis almost entirely on the AI infrastructure ecosystem. The accounts fall into five categories: First, AI-native companies and model ecosystem leaders, including Sam Altman of OpenAI, Dario Amodei of Anthropic, Demis Hassabis of Google DeepMind, Arthur Mensch of Mistral AI, Clem Delangue of Hugging Face, and Aravind Srinivas of Perplexity. Second, CEOs of global tech giants, such as Satya Nadella of Microsoft, Sundar Pichai of Google/Alphabet, Tim Cook of Apple, Andy Jassy of Amazon, Mark Zuckerberg of Meta, and Michael Dell of Dell. Most of these firms are key players in AI computing power, cloud services, end devices, or enterprise AI. Third, investment and startup ecosystem figures, including a16z, Marc Andreessen, Ben Horowitz, Garry Tan of Y Combinator (YC), and Gavin Baker of Atreides. Fourth, chip and hardware industry partners, such as Lip-Bu Tan of Intel and Cristiano Amon of Qualcomm. Though small in number, these represent key nodes in the semiconductor supply chain that both compete and intersect with NVIDIA. Fifth, enterprise software and security infrastructure players, including Palantir, George Kurtz of CrowdStrike, Marc Benioff of Salesforce, Bill McDermott of ServiceNow, and Arvind Krishna of IBM. These firms align with AI use cases in government and enterprise, data, security, and process automation.
Although Bitcoin is yet to regain momentum, trading consistently in a downside trajectory, it appears that its long-term holders are stepping into the market again.
Latest onchain data from CryptoQuant shows that Bitcoin's long-term holders, known for retaining their positions even through diverse market cycles, have been increasingly stacking up Bitcoin again.
Bitcoin sees strong accumulation despite downtrend The data shows that Bitcoin's Long-Term Holder (LTH) Net Position Change has marked its largest green reading in over six years, reaching 1.29 million BTC over a 30-day period on May 24, 2026.
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While this marks its highest level in six years, the metric has surpassed the previous record achieved during the 2017 bull market, sparking questions about whether the Bitcoin bull market is already near.
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It is important to note that the Bitcoin LTH Net Position Change metric measures how much Bitcoin long-term investors have added to or reduced from their holdings over the past month.
While a red reading on the Bitcoin LTH Net Position Change suggests that investors are selling, such a high green reading in the metric shows that smart money holders are accumulating aggressively.
What to expect?Unlike in previous cycles, the strong accumulation from Bitcoin long-term holders this time arrived when Bitcoin was trading near its weakest levels.
Although speculative traders had massively distributed their assets, smart money holders are buying instead, suggesting that seasoned investors viewed the market downturn as an opportunity to buy and hold rather than a reason to exit.
The data further showed that the strong accumulation from long-term holders sparked a massive 15% rebound in the price of Bitcoin, surging from about $58,000 to $66,000.
While such strong accumulation typically reduces the amount of Bitcoin available for sale, it drives a potential rally in the price of the asset, suggesting that Bitcoin may be set for a further rally to $70,000 if the buying persists.
Bitcoin’s most experienced investors have increased their holdings at the fastest pace in over six years, according to recent data. This surge in activity by long-term holders has also coincided with a return to significant realized profits, a trend that has often signaled new phases of upward momentum in the market.
Long-term holders accumulate at fastest rate since 2017On-chain analytics firm CryptoQuant reported that Bitcoin’s 30-day Long-Term Holder (LTH) Net Position Change climbed to around 1.29 million BTC in late May. This level marks the highest monthly accumulation by the cohort since tracking began and surpasses peaks from previous bullish cycles, including the 2017 market rally.
The LTH Net Position Change evaluates the net flow of Bitcoin into wallets held for extended periods over a rolling 30-day window. Sustained positive readings typically indicate that seasoned investors are adding to their positions instead of taking profits or reducing risk.
This record accumulation occurred while Bitcoin traded noticeably below its recent all-time highs, indicating that these holders saw opportunity during the market’s pullback rather than reasons to exit.
Historically, similar periods of robust accumulation by long-term holders have emerged as speculative traders reduced exposure, while investors with high conviction strengthened their positions quietly.
Mini dictionary: CryptoQuant, an on-chain analytics company, provides data and research on cryptocurrency networks by monitoring wallet movements, exchange flows, and other blockchain-based metrics for traders and analysts.
Market watchers note that the latest phase has surpassed all prior accumulation episodes since at least 2021 and even exceeded levels seen during the 2017 bull market.
Profitability improves for Bitcoin’s long-term holdersFurther data from Glassnode indicate that these long-term holders have recently returned to strong realized profits. By tracking Bitcoin transfers to exchanges using a 30-day moving average, analysts observed that holders who held coins through the downturn are now exiting with substantial gains following the recovery from recent lows.
Similar spikes in realized profitability among seasoned holders previously preceded major market advances, including during the significant market expansions in 2020 and 2021. This confluence—high accumulation and rising profitability—points to a robust sense of conviction among core Bitcoin holders.
While periods of widespread profitability can sometimes trigger profit-taking, analysts noticed that current conditions are unique because accumulation has intensified even as profits rose. This reflects a confident outlook among large, established investors despite recent volatility.
Although improving on-chain signals point to stronger market conditions, analysts stress that individual indicators cannot guarantee the start of a new bull phase.
Historically, long-term holders’ accumulation often serves as a reliable indicator of deeper conviction in Bitcoin’s prospects, as these wallets are typically less reactive to price swings than newly joined participants.
Accumulation Period30-Day LTH Net Position ChangeMarket ContextLate May 20261.29 million BTCStrongest in over 6 years2021 PeakBelow 1.29 million BTCBull market2017 CycleBelow 1.29 million BTCBull marketBitcoin’s price recently rebounded approximately 15%, approaching the critical $68,000 short-term holder realized price level, which many analysts view as a key point for the upcoming trend direction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitget has registered as a Financial Services Provider in New Zealand, adding another jurisdiction to its international compliance framework. The registration covers services ranging from foreign exchange and money transfers to custody and portfolio management. It also supports Bitget’s wider ambition to connect crypto, tokenized assets and traditional markets through its Universal Exchange model.
In brief Bitget has registered as a Financial Services Provider in New Zealand. The registration covers FX, transfers, custody and several management services. Bitget has also joined the independent IFSO dispute-resolution scheme. Bitget expands its regulated international footprint Bitget has been added to New Zealand’s Financial Service Providers Register, known as the FSPR. The move follows other compliance steps, including Bitget’s recent Argentina PSAV registration. The registered service categories cover foreign currency exchange, domestic and international money transfers, client asset custody, portfolio management and money management. They also include the execution of financial products or foreign exchange transactions for clients.
This scope fits Bitget’s evolution beyond a crypto-only exchange. The platform now offers access to digital assets, tokenized stocks, commodities, foreign exchange and other market products. A broader product range requires a more structured legal and operational base.
The wording around the registration matters. Appearing on the FSPR does not mean that New Zealand’s government, Financial Markets Authority or Registrar has endorsed Bitget or guaranteed its products.
The FSPR is primarily a public register of financial service providers. Depending on the services offered and the clients targeted, providers may also face rules covering anti-money laundering, counter-terrorist financing and fair dealing.
IFSO membership adds an external dispute channel Bitget therefore gains an important compliance layer, but not a universal stamp of approval. Product availability will still depend on local laws, customer eligibility and the precise structure of each service. This distinction is useful for customers. Regulatory registration can increase transparency and accountability. It does not remove market risk, guarantee investment returns or make every product available to every user in New Zealand.
Bitget has also joined New Zealand’s Insurance and Financial Services Ombudsman Scheme. IFSO provides an independent channel through which eligible customers can raise complaints against participating financial service providers.
That step adds a practical element to the registration. Compliance is not only about appearing in a database. It also involves creating processes for customers when a dispute cannot be resolved directly with the company.
For a platform combining crypto, custody, transfers and traditional market products, dispute resolution becomes increasingly important. The more services an exchange offers, the more complex customer issues can become. Bitget has taken similar steps elsewhere. Its Mexican registrations reflected the same strategy: enter important markets through local compliance structures rather than relying on a single global operating model.
Bitget prepares compliance for the UEX expansion Bitget describes itself as a Universal Exchange, or UEX. The model brings crypto, tokenized equities, commodities, foreign exchange and other financial instruments into one trading environment. This creates an obvious regulatory challenge. A platform dealing only with crypto spot trading has one type of exposure. A platform combining custody, cross-border payments, FX and portfolio services enters several overlapping financial categories.
The New Zealand registration helps Bitget build the infrastructure required for that broader model. It supports the operational side of its expansion while giving the company a clearer framework for offering eligible services.
Still, registration alone will not determine the success of the strategy. Bitget must maintain strong custody systems, transparent product information, effective risk controls and reliable customer support. The UEX model becomes more useful as it expands, but also harder to manage.
New Zealand therefore represents more than another flag on Bitget’s compliance map. It tests whether the exchange can translate its global multi-asset strategy into locally structured services. That challenge will grow as Bitget moves deeper into traditional markets and promotes financial education through initiatives such as TradFi 101.
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Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Foreign exchange desks are not the only ones ripping apart every Consumer Price Index release. Crypto traders now calibrate their positions around the same inflation data, and a new market analysis from forex broker JustMarkets highlights just how reactive markets have become to even small CPI surprises. The original report focuses on FX pairs, but the mechanics translate directly to how Bitcoin, Ethereum, and major altcoins absorb macro shocks.
CPI prints have moved from a once-a-month curiosity to a core volatility engine for risk assets. When actual numbers land above or below consensus, the repricing in interest rate expectations flows instantly through dollar crosses, equity futures, and now digital assets. JustMarkets’ timing is notable because the crypto market’s sensitivity to macro data has deepened alongside institutional inflows and the proliferation of perpetual futures that embed funding rate dynamics tied to rate differentials.
Many traders still treat crypto as an uncorrelated hedge. The reality is more nuanced. High-beta altcoins tend to amplify the moves that begin in traditional macro instruments. A hotter-than-expected CPI print that sends the dollar higher often drains liquidity from riskier corners of the crypto market first, while a soft print can spark an immediate relief rally in coins that have been under pressure. Recent weekly gainers among altcoins have frequently coincided with shifts in macro sentiment, not just protocol-level catalysts.
Why Traders Are Merging the Macro and Crypto Playbooks The infrastructure that feeds crypto markets has matured to the point where a CPI release triggers the same kind of systematic positioning flows seen in currency markets. Market makers adjust spreads, algorithmic traders adjust models, and large funds rebalance beta exposure across asset classes. For a forex broker to publish an entire analysis on CPI surprises underscores how the boundary between traditional macro and crypto is now blurred. A miss on core inflation isn’t just a euro-dollar story anymore.
Retail and institutional participants are also drawing the same conclusions. The correlation between Bitcoin and the dollar index isn’t fixed, but it spikes around key data releases. On-chain tokenized real-world assets have crossed $20 billion, tying more crypto-native capital directly to traditional yield curves. This only deepens the macro sensitivity.
What Remains Unclear For all the correlation chatter, the transmission mechanism from a CPI print to a specific token’s price is not uniform. Some protocols benefit from a risk-on environment driven by dovish rate expectations. Others see increased activity when inflation stays sticky, because users seek dollar alternatives. JustMarkets’ research, while FX-centric, raises a question for crypto analysts: are there structurally different CPI effects across on-chain sectors such as DeFi lending protocols versus meme-coin trading? That breakdown is mostly absent from current market commentary.
Liquidity conditions add another layer. Thin weekend markets in crypto can absorb lagged macro information with more erratic price action than what occurs in deep FX markets. A Monday gap after a Friday CPI print can create opportunities and traps that don’t exist in spot forex. Regulatory uncertainty in the US compounds this, as policy outcomes that affect dollar liquidity and stablecoin access can shift the baseline against which CPI surprises are measured.
Traders who only watch the CPI number without factoring in the evolving regulatory and market structure backdrop risk misreading the reaction. The JustMarkets report serves as a reminder that macro data doesn’t operate in isolation. Crypto markets inherit the volatility from FX, then layer on their own liquidity and sentiment dynamics. The next CPI release will likely trigger moves that look faster and steeper in Bitcoin and altcoins than in the currency pairs the original analysis targeted.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
The National Fraternal Order of Police became the latest organization to throw its support behind the long-awaited Clarity Act.
In a statement Friday, specifically addressed to Democratic senators Elizabeth Warren and Timothy Eugene Scott, the fraternal organization wrote that it approved of the latest bill. The FOP works to improve the working conditions of law enforcement officers.
The newest draft bans officials and their families from issuing or promoting crypto, something opposition lawmakers previously had issue with. On Wednesday, Senator Warren, a long-time crypto critic, said that the latest bill would allow President Donald Trump to make money from crypto, as well as benefit criminals.
JUST IN: 🇺🇸 The world's largest organization of sworn law enforcement officers now officially endorses the passage of the Clarity Act: pic.twitter.com/N10g5jIZ0M
— Bitcoin Magazine (@BitcoinMagazine) July 24, 2026 “The latest version of the ‘Clarity Act’ includes several provisions that improve the ability of State and local law enforcement to protect consumers, investigate financial crimes, and coordinate with their Federal partners,” the letter read.
“The revised bill establishes safeguards aimed at addressing fraud and victimization involving digital asset kiosks and related activity while also providing for anti-money laundering and sanctions compliance obligations across the digital asset ecosystem.”
U.S. lawmakers are currently mulling over the latest draft of the Clarity Act — a crypto market structure bill aims to set in stone digital asset regulation.
More support for the bill Top crypto advocacy groups the Crypto Council for Innovation, Blockchain Association, and the Digital Chamber also threw their support behind the latest draft of the Clarity Act on Friday.
The trade associations said that passing the bill is necessary to establish the “first comprehensive federal consumer protection framework for digital asset markets” as more Americans begin to use and invest in crypto.
The Clarity Act, which Republicans passed last year, has been in a deadlock mainly because banking chiefs raised concerns over stablecoins and the yield they would potentially pay customers.
America’s biggest crypto exchange, Coinbase, pulled support for the bill in January after clashing with banking chiefs who said that earning yield on stablecoins should be banned.
U.S. banks have said they could lose customers if crypto exchanges offer more attractive products for their deposit base.
A new bill has been circulating this week and it is expected it will head to floor vote.
The latest draft bans officials and their families from issuing or promoting crypto — a sore point for Democratic politicians who have argued that President Donald Trump’s family has unfairly benefited from crypto ventures.
President Trump campaigned on a ticket to help the crypto space but his digital asset ventures have raised eyebrows among Washington lawmakers who think the Trump family has unfairly profited from crypto businesses.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
HomeCryptoMARKETSAnother crypto company sells Bitcoin.
The ongoing crypto winter has forced Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy, to sell Bitcoin (BTC) twice this year.
32 Bitcoin for around $2.5 million during May 26-313,588 BTC for $216 million during June 29-July 5The company has sold Bitcoin for the first time after 2022. Now, another major digital asset treasury company has been forced to sell Bitcoin.
Trending on TheStreet Roundtable:Tesla sends a quiet but powerful message on BitcoinFarmers collateralize cows to secure loansAndrew 'Daddy' Tate crashes 50% since U.S. arrestThe Smarter Web Company sells a portion of Bitcoin stack The Smarter Web Company disclosed on July 23 that it sold 177.8909127 Bitcoin worth $11.68 million and used the proceeds from the sale to repay an $11.7 million convertible debt facility.
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Though a company selling Bitcoin during a period of crisis can be interpreted as a sign of falling confidence in the cryptocurrency, the company said it made the sale decision in preference for balance-sheet flexibility over equity dilution.
Otherwise, it would have to issue 7.71 million common shares, which would have diluted existing shareholders had the convertible been converted into equity instead.
"When we entered into Smarter Convert in August 2025, it provided an innovative alternative to traditional leverage," The Smarter Web Company CEO Andrew Webley said. "The structure enabled us to strengthen our balance sheet whilst maintaining flexibility during an early stage of our Bitcoin treasury strategy. As the Company has evolved, so too has our approach to capital allocation. Looking ahead, whilst we continue to recognise the potential benefits of both fiat and Bitcoin-denominated convertible instruments, we do not currently believe they represent the right capital solution for The Smarter Web Company."
It still holds 2,700 Bitcoin on its balance sheet.
BTC/USD, Source: Decibel
Bitcoin was exchanging hands at $63,886 at the time of writing, as per Decibel.
In brief Poolin Technology filed for Chapter 11 bankruptcy on July 22. The largest single debt, $163.7 million, is owed to about 11,700 users. Thor CALAP LLC has placed a $52 million stalking-horse bid for Poolin's two West Texas mining sites, setting the floor for a court-supervised auction. Poolin Technology Pte. Ltd., the Singapore-based company that once ran one of Bitcoin's largest mining pools, filed for Chapter 11 bankruptcy on July 22—the U.S. legal process that lets a company operate under court supervision while it reorganizes or, in this case, sells off its remaining assets and shuts down.
The filing, in the U.S. Bankruptcy Court for the District of New Jersey, covers Poolin alongside two U.S. affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC. Court documents list roughly prepetition obligations of more than $100 million against less than $10 million in assets.
A mining pool lets individual Bitcoin miners combine their hashrate—the raw computing power machines burn through to solve the cryptographic puzzles that add new blocks to the blockchain—so the group wins rewards more often than any single miner could alone.
Poolin was founded in Beijing in 2017 by Zhibiao "Kevin" Pan, along with Fa Zhu and Tianzhao Li, all veterans of mining-hardware maker Bitmain, and it grew into one of the world's biggest pools. At its peak, the company controlled nearly a fifth of the network's global hashrate, before expanding into crypto lending and interest-bearing accounts through a product called Poolin Wallet.
The trouble started in September 2022, when Poolin froze withdrawals for Poolin Wallet and Pool Account users. The company said at the time it was "facing some liquidity issues," tied to a wave of withdrawal demand during that year's broader crypto crash. Rather than making customers whole, Poolin issued IOU tokens as placeholders for real Bitcoin, and those debts never got repaid.
Those unpaid IOUs are now the largest liability in the bankruptcy case. About 11,700 wallet holders are owed $163.7 million, according to a court declaration from Chief Restructuring Officer Michael DuFrayne. Poolin's Texas mining and hosting operations, run through Lonestar Dream, shut down entirely on July 10, and the company says it does not intend to resume.
To repay what it can, Poolin is auctioning its two West Texas sites, with Thor CALAP LLC offering a $52 million stalking-horse bid—an opening offer that sets the floor price other bidders must beat in a court-supervised sale. That amount covers only the physical mining infrastructure, not the frozen wallet balances, and falls well short of what users are owed. The Texas units had already piled up roughly $45.9 million in losses since they opened, plus another $8.8 million from selling equipment at discounted prices between fiscal 2023 and 2025.
Recovery for the 11,700 IOU holders now depends largely on what the Texas auction brings in, more than three years after their withdrawals were first frozen.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Poolin Technology filed for Chapter 11 bankruptcy on July 22. The largest single debt, $163.7 million, is owed to about 11,700 users. Thor CALAP LLC has placed a $52 million stalking-horse bid for Poolin's two West Texas mining sites, setting the floor for a court-supervised auction. Poolin Technology Pte. Ltd., the Singapore-based company that once ran one of Bitcoin's largest mining pools, filed for Chapter 11 bankruptcy on July 22—the U.S. legal process that lets a company operate under court supervision while it reorganizes or, in this case, sells off its remaining assets and shuts down.
The filing, in the U.S. Bankruptcy Court for the District of New Jersey, covers Poolin alongside two U.S. affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC. Court documents list roughly prepetition obligations of more than $100 million against less than $10 million in assets.
A mining pool lets individual Bitcoin miners combine their hashrate—the raw computing power machines burn through to solve the cryptographic puzzles that add new blocks to the blockchain—so the group wins rewards more often than any single miner could alone.
Poolin was founded in Beijing in 2017 by Zhibiao "Kevin" Pan, along with Fa Zhu and Tianzhao Li, all veterans of mining-hardware maker Bitmain, and it grew into one of the world's biggest pools. At its peak, the company controlled nearly a fifth of the network's global hashrate, before expanding into crypto lending and interest-bearing accounts through a product called Poolin Wallet.
The trouble started in September 2022, when Poolin froze withdrawals for Poolin Wallet and Pool Account users. The company said at the time it was "facing some liquidity issues," tied to a wave of withdrawal demand during that year's broader crypto crash. Rather than making customers whole, Poolin issued IOU tokens as placeholders for real Bitcoin, and those debts never got repaid.
Those unpaid IOUs are now the largest liability in the bankruptcy case. About 11,700 wallet holders are owed $163.7 million, according to a court declaration from Chief Restructuring Officer Michael DuFrayne. Poolin's Texas mining and hosting operations, run through Lonestar Dream, shut down entirely on July 10, and the company says it does not intend to resume.
To repay what it can, Poolin is auctioning its two West Texas sites, with Thor CALAP LLC offering a $52 million stalking-horse bid—an opening offer that sets the floor price other bidders must beat in a court-supervised sale. That amount covers only the physical mining infrastructure, not the frozen wallet balances, and falls well short of what users are owed. The Texas units had already piled up roughly $45.9 million in losses since they opened, plus another $8.8 million from selling equipment at discounted prices between fiscal 2023 and 2025.
Recovery for the 11,700 IOU holders now depends largely on what the Texas auction brings in, more than three years after their withdrawals were first frozen.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Poolin, a major Bitcoin mining pool operator based in Singapore, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey. The filing lists liabilities of approximately $173.1 million, with assets ranging between $1 million and $10 million, and between 10,001 to 25,000 creditors. Poolin’s decision to auction its Texas mining sites, featuring a $52 million stalking-horse bid from Thor CALAP LLC, is part of a broader strategy to repay its 11,700 users. The bankruptcy filing indicates a significant shift in the Bitcoin mining landscape, as Poolin was once among the industry leaders.
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Key Takeaways Poolin’s bankruptcy filing suggests a major shift in Bitcoin mining operations, potentially increasing market uncertainty. The sale of Poolin’s Texas mining sites appears consistent with efforts to liquidate assets and repay creditors. Market pricing indicates a potential decrease in Bitcoin price predictions, reflecting concerns over increased mining sell-pressure. What to Watch The auction of Poolin’s mining assets will be a key event to monitor, as the outcome could influence market sentiment and Bitcoin’s price trajectory. Watch for any additional announcements regarding the liquidation process or potential buyers for the assets. Additionally, any shifts in market pricing for Bitcoin, especially in response to changing mining operations, could further impact predictions on Bitcoin reaching price targets in July.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 0.2% — — View market → August 1 2026 24.5% — — View market → August 1 2026 6.6% — — View market → August 1 2026 4.9% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.2% — — View market → August 1 2026 2.2% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.9% — — View market → August 1 2026 2.4% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →
The total crypto market cap has shrunk by 1.18% in the past 24 hours. The Crypto Market Fear and Greed Index sat at a score of 34, signaling fear was still prevalent in the market.
AMBCrypto reported that Bitcoin [BTC] saw its longest streak of spot ETF inflows in nine months. It pointed to increased demand and a potential shift in sentiment, but the streak was broken.
SoSoValue, the cryptocurrency research platform that aggregates macro market data, reported -$225.1 million in spot ETF net flows on Thursday, July 23.
The escalation in U.S.-Iran tensions and higher Brent crude prices coincided with the reversal in ETF flows, adding to the broader risk-off mood across markets.
Bitcoin was down 1.35%, and Ethereum down 1.85%. TOTAL3, which tracks the altcoin market cap excluding ETH, has fallen 1.17% in 24 hours.
Some BTC treasury firms were abandoning their accumulation model and actively looking to liquidate and completely exit crypto treasury strategies.
Liquidations and trend shift help explain why crypto is down today On July 19 and 20, short liquidations dominated crypto markets, measuring $305.68 million. By comparison, only $164.04 million in long liquidations occurred to start the week.
Since then, $489.268 million in long liquidations have occurred, as opposed to $205.13 million in short liquidations. In other words, traders who bet on continued upward momentum were being forced out of the market.
AMBCrypto had reported that the price bounce in recent days was accompanied by a lack of significant participation from new capital. Short-term holders continued to realize losses, and bears were still in control of the market’s direction.
Where Bitcoin goes, the rest of crypto tends to follow. Right now, that direction is southward.
Source: BTC/USDT on TradingView The higher timeframe price trend has been bearish since October 2025. The 4-hour chart was also bearish. The $67,292 swing high must be breached to flip this structure bullishly.
The bulls tried and failed to challenge the $67k resistance zone convincingly. The recent downturn is a result of buyer exhaustion and the prevalent bearish price structure.
If the current trend continues, the next impulse move downward could open the door to a retest of the $57,800 area if sellers remain in control.
Final Summary The crypto market saw a steady advance higher earlier this week, helped by bullish spot ETF flows and BTC momentum. This has taken an abrupt shift just as Bitcoin and Ethereum ran into key resistance zones at $67k and $1,920 respectively. Further downside is expected.
India has ordered GitHub to remove several repositories related to Bitchat, the decentralized messaging created by Jack Dorsey. Authorities blame the application for complicating user identification and surveillance. This decision places Bitcoin and censorship-resistant technologies at the center of a new conflict between public safety and digital freedom.
In brief India requests the removal of three GitHub repositories related to Bitchat. The messaging can work offline and relay Bitcoin transactions. Its decentralized architecture complicates surveillance and legal interceptions. An application linked to Bitcoin is in India’s sights Bitchat is a peer-to-peer messaging capable of working without Internet, phone number, or central server. Jack Dorsey introduced it in 2025 as a secure and decentralized messaging, suited for network outages and crisis areas. The Indian Cyber Crime Coordination Centre, attached to the Indian Ministry of Home Affairs, requested GitHub to disable three repositories associated with the project. The notification is based on section 79(3)(b) of the Indian Information Technology Act.
Authorities believe that the lack of registration, centralized logging, and classic identifiers complicates legal interceptions. Bitchat thus becomes difficult to monitor with the tools used for ordinary platforms. Bitchat is not a Bitcoin application in the strict sense. Its main function remains the exchange of encrypted messages between nearby phones. This remains possible thanks to low-energy Bluetooth and a relay system between devices.
Its link to Bitcoin comes from an additional feature. The application can carry an offline signed BTC transaction, then relay it from phone to phone. As soon as a device regains connection, the transaction can be broadcast to the Bitcoin network.
This mechanism follows one of the principles defended by Jack Dorsey: allowing users to communicate and transfer value without fully depending on a central infrastructure. Even if Bitchat does not directly rely on the Bitcoin blockchain for its messages, its architecture shares the same pursuit of autonomy.
Protests accelerate the adoption of Bitchat The Indian decision comes in the context of student protests in New Delhi. Internet shutdowns were reportedly imposed around some gatherings, pushing participants towards offline-capable tools. Bitchat and other Bluetooth messengers allow phones to create a small local network. Each device can pass a message to the next. This gradually expands the communication zone without going through a mobile operator.
This scenario recalls the adoption of Bitchat by protesters in Nepal and Indonesia. The more authorities cut traditional channels, the more users seek decentralized solutions. The order sent to GitHub does not guarantee the software’s disappearance. The code is open source and can be copied on other platforms. At the time of the announcement, the application was also still downloadable on major mobile stores.
The case goes beyond Bitchat. It raises a simple question: can a state truly block a decentralized tool when its code can be freely duplicated and shared? Removal from GitHub can reduce the project’s visibility and slow its development. It does not destroy copies already downloaded, nor versions hosted elsewhere. This technical limitation often turns a ban into a perpetual race between authorities and developers.
For governments, these applications create a real problem. They can protect citizens during an outage or crisis, but also complicate investigations against illegal activities. The challenge is to regulate abuse without imposing general surveillance. Jack Dorsey has been building a strategy focused on Bitcoin, decentralized payments, and censorship-resistant tools for several years. His company Block itself holds BTC and is preparing payment services linked to bitcoin, as shown by its development around Block and Bitcoin.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Silver (XAG/USD) edges higher on Friday as a pullback in Oil prices pushes US Treasury yields lower, while the US Dollar (USD) fluctuates near recent highs. At the time of writing, XAG/USD trades around $58.60, up 2.40% on the day.
Despite the pullback, Oil prices and US Treasury yields remain elevated, keeping Silver's upside in check as persistent inflation concerns reinforce hawkish Federal Reserve (Fed) expectations.
Higher borrowing costs typically weigh on non-yielding assets such as Silver. According to the CME FedWatch Tool, traders see an 80% chance of a rate hike in September, although the Fed is widely expected to leave interest rates unchanged at next week’s meeting.
From a technical perspective, Silver has traded between $55 and $63 since late June, pointing to signs of stabilization following a series of lower highs and lower lows from May’s peak near $90.00.
However, XAG/USD is struggling around the 21-day Simple Moving Average (SMA) at $58.82, while the 50-day and 100-day SMAs at $65.44 and $71.21, respectively, keep the broader bearish structure intact.
Momentum indicators paint a mixed picture. The Relative Strength Index (RSI) near 45 points to subdued momentum, while the Moving Average Convergence Divergence (MACD) indicator sits slightly above the zero line, indicating moderate selling pressure. Meanwhile, the Average Directional Index (ADX) near 36 indicates that the broader trend retains meaningful strength.
On the downside, initial support is seen at the horizontal floor near $55, where buyers previously stepped in. On the topside, bulls need to reclaim the 21-day SMA at $58.82 to ease immediate downside pressure. Further resistance is located at $63 and the 50-day SMA at $65.44.
Only a sustained break above these barriers would begin to challenge the broader bearish structure, with the 100-day SMA at $71.21 acting as the next major hurdle.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
New York, New York--(Newsfile Corp. - July 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Insulet Corporation (NASDAQ: PODD) between February 21, 2025 and May 26, 2026, inclusive (the "Class Period"), of the important August 31, 2026 lead plaintiff deadline.
SO WHAT: If you purchased Insulet securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Insulet class action, go to https://rosenlegal.com/cases/insulet-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 31, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Insulet's manufacturing controls and procedures were defective; (2) the foregoing created a foreseeable heightened risk that one or more Insulet products would be found to be in violation of applicable safety regulations and/or pose a risk of injury; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Insulet class action, go to https://rosenlegal.com/cases/insulet-corporation/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
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Cabot (CBT - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Cabot basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Cabot, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for CabotThis chemical company is expected to earn $6.35 per share for the fiscal year ending September 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Cabot. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.3%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Cabot to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
The company reported adjusted earnings of $7.59, up from $6.84 a year ago, surpassing the Wall Street estimates of $7.02.
Adjusted EBITDA reached $4.027 billion, compared to $3.849 billion a year ago.
Admissions Growth And Medicaid Payments Support ResultsThe company also experienced positive factors including increased benefit from Medicaid Supplemental Payment Programs, growth in admissions, equivalent admissions and ER visits, and improved expense results.
Same facility admissions increased 2.5% and same facility equivalent admissions increased 2.7%. Same facility emergency room visits increased 3.6%.
Same facility inpatient surgeries declined 2.3%, and outpatient surgeries declined 3.4% in the quarter. Same facility revenue per equivalent admission increased 6.4%.
Surgical Volume And Payer Mix Weigh On PerformanceAs announced earlier, during the second quarter, the company experienced a payer mix shift driven by an increase in uninsured volume, primarily due to patients who lost coverage on the health insurance exchanges.
The company estimates this payer mix shift had an unfavorable impact on income before income taxes of approximately $400 million during the second quarter.
The amount includes an increase of approximately $75 million related to the company’s previous estimate of the first quarter health insurance exchange impact.
In addition, to a lesser degree, HCA Healthcare experienced a service mix shift primarily related to a decline in surgical volume.
HCA Reaffirms Full-Year 2026 OutlookHCA Healthcare reaffirmed fiscal 2026 earnings guidance of $28.70-$30.50 per share compared to the consensus of $29.70.
The company expects 2026 sales of $77 billion-$79.50 billion versus the consensus of $78.457 billion.
HCA Stock Price Activity: HCA Healthcare shares were up 3.62% at $390.12 at the time of publication on Friday, according to Benzinga Pro data.
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Healthcare Added 35,200 Jobs—3 Stocks Positioned to BenefitHCA Healthcare NYSE: HCA said its second-quarter performance reflected solid demand in several service lines and 11% growth in diluted earnings per share, but the company faced increased financial pressure as patients losing health insurance exchange coverage shifted largely into the uninsured population.
Chief Executive Officer Sam Hazen said the expiration of enhanced premium tax credits at the end of 2025 led more patients to lose exchange coverage than the company had anticipated. While HCA expected some individuals to move to other coverage options, Hazen said patients instead migrated “almost one for one” to uninsured status while continuing to require hospital care.
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The Aging of America Could Make HCA Healthcare a Long-Term Winner“The effects, as expected, were that many people became uninsured and still needed emergency care from hospitals,” Hazen said. He added that the impact in the first half of 2026 was greater than the company’s original estimates.
Payer Mix Shift Drives Updated Outlook Same-facility equivalent admissions among patients covered through health insurance exchanges declined 15% in the second quarter and year to date, according to Chief Financial Officer Mike Marks. Equivalent admissions among insured patients excluding exchange plans increased 3.2% in the second quarter, while total uninsured equivalent admissions rose 15%.
This ETF Is Proof That the Healthcare Rebound Is RealMarks said the exchange-related payer mix shift created an approximately $400 million unfavorable impact on adjusted EBITDA in the second quarter. That figure included about $75 million tied to a higher estimate of the first-quarter exchange impact.
The company now expects the full-year adjusted EBITDA impact from health insurance exchange changes to range from negative $1 billion to negative $1.2 billion. Marks said the updated outlook reflects the company’s conclusion that nearly all patients losing exchange coverage are becoming uninsured, compared with its prior assumption that 80% to 85% would do so. HCA also said its original expectation that uninsured patients would use fewer healthcare services did not materialize.
Three divisions—Gulf Coast, North Florida and South Atlantic—accounted for about half of the companywide exchange-related impact. Hazen said exchange adjusted admissions in those divisions declined between 25% and 28% in the first half.
HCA revised its full-year 2026 guidance to:
Revenue of $77 billion to $79.5 billion. Adjusted EBITDA of $15.4 billion to $16.1 billion. Net income attributable to HCA Healthcare of $6.3 billion to $6.7 billion. Diluted earnings per share of $28.70 to $30.50. Marks said the revised outlook is more consistent with HCA’s long-term adjusted EBITDA growth target of 4% to 6%, following moderation from the company’s 2025 growth rate and its initial 2026 assumptions.
Medicaid Programs Offset Pressure in the Quarter The company recognized approximately $400 million of incremental net benefit from Medicaid supplemental payment programs during the second quarter. That included a $540 million incremental net benefit related to a recently approved Florida program covering the period from Oct. 1, 2024, through June 30, 2026, or 21 months.
The Florida benefit was partly offset by retroactive payments received in the second quarter of 2025. HCA’s annual guidance assumes a net Medicaid supplemental-payment benefit of $300 million to $500 million, but Marks said the outlook implies a $100 million to $300 million headwind in the second half because prior program approvals and retroactive payments are expected to exceed the incremental benefit from the Florida program.
Hazen described Medicaid supplemental programs as important to supporting access to care for Medicaid patients, particularly as hospitals provide more uncompensated care to uninsured patients.
Demand Growth Continues, Though Surgeries Decline Same-facility admissions increased 2.5% in the second quarter, while equivalent admissions rose 2.7%. Emergency room visits increased 3.6%, with cardiac procedures and rehabilitation volumes also contributing to demand.
However, inpatient surgeries declined 2.3% and outpatient surgeries fell 3.4%. Hazen attributed much of the decline to reduced demand for elective procedures, including patients previously covered through exchange plans. He also cited physician feedback regarding affordability pressures affecting patients and the effect of Medicare inpatient rule changes that have shifted some cases from inpatient to outpatient settings.
Emergency inpatient surgeries, which account for about two-thirds of HCA’s inpatient surgical cases, increased 2% year over year through the first six months. By contrast, elective inpatient surgeries were down 6% this year, compared with a 2% decline in the prior year.
Despite the surgical weakness, Hazen said the company remains encouraged by demand and continues to expect long-term demand growth of 2% to 3%, supported by population growth and market trends in its communities.
Capital Investment and Cost Initiatives HCA has approved more than $7 billion of capital spending expected to come online over the next three years. The investments include 1,000 to 1,200 additional inpatient beds, new hospitals in certain markets, and additional outpatient facilities.
Hazen said the company had approximately 42,000 beds currently in operation, up from roughly 37,000 at the end of 2018. Occupancy increased to 75% from 71% over that period. HCA also had 5% more outpatient sites of care in the second quarter than a year earlier and expects another 250 to 300 outpatient facilities in its capital or acquisition pipeline to open later this year or early next year.
The company spent $1.2 billion on capital expenditures during the quarter, repurchased $2.1 billion of shares and paid $171 million in dividends. Cash flow from operations was $2.3 billion, down 45% year over year, primarily because of the timing of Florida Medicaid supplemental-payment cash flows and the prior-year deferral of federal income tax payments.
HCA maintained its planned 2026 capital expenditure range of $5 billion to $5.5 billion and said it currently expects to complete most of its existing share-repurchase authorization, subject to market conditions and other factors.
On costs, Marks said same-facility cost per equivalent admission, including the effect of Medicaid supplemental payment programs, was essentially flat from a year earlier and improved 1.4% sequentially. He said HCA’s financial resiliency program—which includes digital transformation, global capabilities and expanded shared services—is intended to produce multiyear efficiency benefits. Professional fees remained elevated, rising about 8.5% year over year in the quarter, primarily due to anesthesia and radiology costs.
About HCA Healthcare (NYSE:HCA)HCA Healthcare is a for‑profit operator of healthcare facilities headquartered in Nashville, Tennessee. Founded in 1968, the company owns and operates a network of hospitals and related healthcare facilities and has grown through organic expansion and acquisitions to become a large provider of inpatient and outpatient services.
The company's core activities include the operation of acute care hospitals, freestanding surgical and emergency centers, and outpatient clinics. HCA's services encompass inpatient care, surgical services, emergency medicine, diagnostic imaging and laboratory testing, and various outpatient and ambulatory care offerings.
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Should You Invest $1,000 in HCA Healthcare Right Now?Before you consider HCA Healthcare, you'll want to hear this.
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Key Takeaways HCA posted Q2 adjusted EPS of $7.59, beating estimates as revenues climbed 8.7% year over year.HCA saw higher admissions, revenue per admission and ER visits, while inpatient and outpatient surgeries fell.HCA narrowed revenue guidance but reduced adjusted EBITDA, net income and diluted EPS forecasts for 2026. HCA Healthcare, Inc. (HCA - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of $7.59, which beat the Zacks Consensus Estimate of $7.57. The bottom line advanced 11% year over year.
Revenues rose 8.7% year over year to $20.2 billion. The top line was in line with the Zacks Consensus Estimate.
The quarterly results benefited from higher same-facility admissions, strong revenue per equivalent admission and solid emergency room visit growth. However, declining inpatient and outpatient surgeries, along with elevated operating expenses, partially offset these positives.
HCA Healthcare, Inc. Price, Consensus and EPS SurpriseHCA’s Q2 DetailsSame-facility equivalent admissions grew 2.7% year over year in the second quarter, beating our growth estimate of 2%. Meanwhile, same-facility admissions increased 2.5%, also surpassing our growth estimate of 1.8%.
Same-facility revenue per equivalent admission rose 6.4% year over year but came in higher than our growth estimate of 4.2%.
Same-facility inpatient surgeries fell 2.3% year over year, while same-facility outpatient surgeries dipped 3.4%. Same-facility emergency room visits inched up 3.6% year over year in the quarter.
Salaries and benefits, supplies and other operating expenses increased 9.8% year over year to $16.2 billion. The metric came in higher than our estimate of $15.4 billion.
Adjusted EBITDA of $4 billion advanced 4.6% year over year, which marginally beat our estimate of $3.9 billion.
HCA Healthcare operated 190 hospitals and roughly 2,600 ambulatory sites of care across 19 states and the United Kingdom as of June 30, 2026.
HCA’s Q2 Financial UpdateHCA Healthcare exited the second quarter with approximately $1 billion in cash and cash equivalents, down 2.6% from the 2025-end level. It had approximately $3.1 billion of available capacity under its credit facilities at the end of the reported quarter.
Total assets of $63.3 billion increased 4.2% from 2025-end figure.
Long-term debt, excluding debt issuance costs and discounts, was $43.5 billion, up 4.4% from the figure as of Dec. 31, 2025. Short-term borrowings and long-term debt due within a year totaled $6.3 billion.
Capital expenditures, excluding acquisitions, amounted to $1.2 billion during the quarter.
HCA’s Cash FlowCash flows from operating activities declined 44.5% year over year to $2.3 billion in the second quarter of 2026.
HCA Healthcare’s Capital Deployment UpdateHCA bought back shares worth approximately $2.1 billion in the second quarter. It had about $7.2 billion remaining under its share repurchase authorization as of June 30, 2026. The board also declared a quarterly cash dividend of 78 cents per share, payable on Sept. 30, 2026, to shareholders of record as of Sept. 16, 2026.
HCA Revises 2026 GuidanceRevenue guidance has been revised to $77.0-$79.5 billion from the previous $76.5-$80.0 billion, raising the lower end by $0.5 billion and lowering the upper end by $0.5 billion. The midpoint of the revised range implies 3.5% growth from the 2025 reported figure.
Adjusted EBITDA guidance has been narrowed to $15.4-$16.1 billion from $15.55-$16.45 billion. The midpoint suggests about 1.2% growth from the 2025 reported figure.
Net income guidance was lowered to $6.3-$6.7 billion from $6.495-$7.035 billion. The midpoint implies about a 4.2% decline from the 2025 reported figure.
Diluted EPS guidance was lowered to $28.70-$30.50 from $29.10-$31.50. The midpoint implies about 4.5% growth from the 2025 reported figure.
Capital expenditures, excluding acquisitions, remain projected in the range of $5.0-$5.5 billion.
HCA’s Zacks Rank & Key PicksHCA currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Medical space are Charles River Laboratories International, Inc. (CRL - Free Report) , CVS Health Corporation (CVS - Free Report) and Cencora, Inc. (COR - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Charles River is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $2.72 per share, which has witnessed one upward revision and one downward revision over the past 30 days. The company beat on earnings in each of the trailing four quarters, with the average surprise being 9.3%. The consensus estimate for Charles River’s second-quarter revenues is pinned at $970.77 million.
CVS Health is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $1.87 per share, indicating a 3.3% year-over-year increase. The company beat on earnings in each of the trailing four quarters, with the average surprise being 16.8%. The consensus estimate for CVS Health’s second-quarter revenues is pinned at $100.18 billion, indicating a 1.3% year-over-year increase.
Cencora is set to report second-quarter 2026 results on Aug. 5, before the market closes. The Zacks Consensus Estimate for earnings is pegged at $4.37 per share, indicating a 9.3% year-over-year increase. The company beat on earnings in three of the trailing four quarters and missed once, with the average surprise being 1.6%. The consensus estimate for Cencora’s second-quarter revenues is pinned at $84.89 billion, indicating a 5.2% year-over-year increase.
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Based in Houston, CenterPoint Energy (CNP - Free Report) is in the Utilities sector, and so far this year, shares have seen a price change of 15.36%. Currently paying a dividend of $0.23 per share, the company has a dividend yield of 2.08%. In comparison, the Utility - Electric Power industry's yield is 3.1%, while the S&P 500's yield is 1.33%.
Looking at dividend growth, the company's current annualized dividend of $0.92 is up 4.5% from last year. Over the last 5 years, CenterPoint Energy has increased its dividend 5 times on a year-over-year basis for an average annual increase of 8.33%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. CenterPoint's current payout ratio is 51%, meaning it paid out 51% of its trailing 12-month EPS as dividend.
CNP is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $1.91 per share, which represents a year-over-year growth rate of 8.52%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. But, not every company offers a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, CNP presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy).
CenterPoint Energy (CNP - Free Report) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for CenterPoint is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For CenterPoint, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for CenterPointFor the fiscal year ending December 2026, this energy delivery company is expected to earn $1.91 per share, which is unchanged compared with the year-ago reported number.
Analysts have been steadily raising their estimates for CenterPoint. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.1%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of CenterPoint to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Key Takeaways Unum is expected to benefit from favorable persistency and stronger sales across its insurance businesses. UNM's key operating segments are likely to see growth from voluntary benefits, life and disability products. Unum is expected to face higher expenses, while continued share buybacks may support earnings. Unum Group (UNM - Free Report) is expected to register an improvement in its bottom line but a decline in the top line when it reports second-quarter 2026 results on July 28, after the closing bell.
The Zacks Consensus Estimate for UNM’s second-quarter revenues is pegged at $2.95 billion, indicating a 12.6% decline from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.14 per share. The Zacks Consensus Estimate for UNM’s second-quarter earnings has moved south by 0.4% in the past 30 days. The estimate suggests a year-over-year increase of 3.3%.
What the Zacks Model Unveils for UNMOur proven model does not conclusively predict an earnings beat for Unum Group this time around. This is because a stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold). This is not the case, as you can see below:
Earnings ESP: Unum Group has an Earnings ESP of -0.89%. This is because the Most Accurate Estimate of $2.13 is pegged lower than the Zacks Consensus Estimate of $2.14. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: Unum Group currently carries a Zacks Rank #3.
Factors Likely to Shape Q2 Results of UNMFavorable persistency and better sales in the operating segments are likely to have favored premiums in the second quarter. Our estimate and the Zacks Consensus Estimate for premium income are both pegged at $2.6 billion.
Net investment income is likely to have increased due to higher invested assets and higher miscellaneous investment income. Our estimate for investment income is pegged at $297.3 million, suggesting a 47% decrease from the year-ago quarter. The Zacks Consensus Estimate is pegged at $269 million.
The performance of Unum U.S. and Colonial Life — two of the largest operating segments — is likely to have been driven by stable overall persistency in the voluntary benefits and dental and vision product lines, and higher prior period sales in the voluntary benefits product line, improved benefit experience across life, accident, sickness, and disability product lines, and in-force block growth.
Better performance in life and group disability is likely to aid Unum U.S. results.
Our estimate for Unum U.S. operating revenues is pegged at $2 billion, while the same for Colonial Life is pinned at $516.5 million.
Favorable results at group long-term disability, Group Life and Supplemental are likely to have favored Unum UK. This, combined with in-force block growth, sales and favorable overall persistency at Unum Poland, is likely to have benefited Unum International. Our estimate for Unum International’s operating revenues is pegged at $336.1 million.
Expenses are likely to have increased because of higher policy benefits, commissions, interest and debt expense, amortization of deferred acquisition costs and other expenses.
Continued share buybacks are likely to have contributed to the bottom line.
Stocks to ConsiderSome insurance stocks with the right combination of elements to deliver an earnings beat this time around are:
Aflac Incorporated (AFL - Free Report) has an Earnings ESP of +0.34% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $1.77, indicating a year-over-year decrease of 0.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
AFL’s earnings beat estimates in two of the last four reported quarters and missed in the other two.
The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +2.59% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $5.61, indicating a year-over-year decrease of 5.5%.
ALL’s earnings beat estimates in each of the last four reported quarters.
Axis Capital Holdings Limited (AXS - Free Report) has an Earnings ESP of +3.82% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for second-quarter 2026 earnings is pegged at $3.23, indicating a year-over-year decrease of 1.8%.
AXS’s earnings beat estimates in each of the last four reported quarters.
Key Takeaways IQVIA's Q2 revenues are expected to rise 6.7% y/y to $4.3 billion, with EPS at $3.02.Commercial solutions growth is expected from drug launches, AI demand and Data-as-a-Service adoption.AI-led workflow gains and backlog conversion are expected to support research and development solutions. IQVIA Holdings Inc. (IQV - Free Report) is set to release second-quarter 2026 results on July 28, before market open.
IQV has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in the trailing four quarters, with an average surprise of 1.6%.
IQVIA’s Q2 ExpectationsThe Zacks Consensus Estimate for revenues is pegged at $4.3 billion, implying 6.7% year-over-year growth. Growth in the top line is likely to have been stimulated by an efficient use of AI across its business lines.
Revenue gains in the commercial solutions segment are expected to have emanated extensively from rising drug launch activity. Surging demand for the company’s exclusive AI capabilities, tailored AI agents and AI-ready data foundations is anticipated to have added to the growth trajectory.
We expect the rapid adoption of Data-as-a-Service, resulting in multi-year client agreements and enterprise-wide platform adoptions, enhancing commercial intelligence and analytics, to have acted as a major catalyst to this segment’s growth.
For the research and development solutions segment, we expect IQVIA to have leveraged AI to optimize workflow, accelerate study execution and cut down errors, thus improving its revenues. Scheduled conversion of contracted backlogs into revenues over the upcoming months is likely to have contributed to the segment’s growth.
The consensus estimate for earnings per share is $3.02, implying 7.5% year-over-year growth. Enhancement in operational prowess springing from high-margin revenue growth across segments is anticipated to have benefited the bottom line.
What Our Model Says About IQVOur proven model does not conclusively predict an earnings beat for IQVIA this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
IQV has an Earnings ESP of -2.98% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to ConsiderHere are a few stocks from the broader Medical sector, which, according to our model, have the right combination of elements to beat on earnings this time around.
Alcon (ALC - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $2.8 billion, indicating 7.3% year-over-year growth. For earnings, the consensus mark is pinned at 77 cents per share, moving up 1.3% from the year-ago quarter’s reported figure. The company beat the consensus estimate in three of the past four quarters and missed once, with an average surprise of 3.7%.
ALC carries an Earnings ESP of +3.13% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 10.
Waters (WAT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pinned at $1.6 billion, hinting at 3% year-over-year growth. For earnings, the consensus mark is pinned at $3.01 per share, improving 2% from the year-ago quarter’s reported figure. WAT beat the consensus estimate for earnings in the trailing four quarters, with an average surprise of 6%.
WAT has an Earnings ESP of +0.45% and a Zacks Rank of 3 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 4.
While XRP has corrected from the recent $1.16 high, new market data shows that demand in the spot market has continued to improve.
Specifically, buying activity across centralized exchanges has climbed to its highest level in eight weeks, suggesting that many investors are still accumulating XRP despite the latest price decline.
Notably, the latest data also show a growing gap between the spot and derivatives markets. Spot buyers have become more active, while traders in the perpetual futures market continue to favor selling.
Spot Buying Reaches Its Highest Level Since June Data from July 23 shows that the All CEX Estimated Spot CVD climbed to about $388.6 million, its highest level since June 1. The increase shows a rise in aggressive buying across centralized spot exchanges, showing that buyers have returned to the market in greater numbers.
Meanwhile, the trend looks very different in the derivatives market. Notably, Binance Perpetual CVD remained deeply negative at around -$547.4 million, showing that perpetual futures traders continue to favor the sell side.
XRP CEX Spot CVD and Binance Perpetual CVD | CryptoQuant Also, on Binance, XRP open interest increased from roughly $198 million on July 8 to about $215.7 million on July 23, marking a rise of nearly 9%.
Higher open interest alongside a deeply negative perpetual CVD suggests that traders are opening new leveraged short positions instead of simply closing existing long positions.
However, open interest alone cannot show the direction of every new position, so it does not tell the full story by itself.
Spot trading also picked up across several major exchanges rather than on just one platform. On July 21, Coinbase recorded around $157 million in XRP spot trading volume, compared with roughly $111 million on Binance.
This increase suggests that stronger spot demand is spread across multiple exchanges instead of being driven by a single market.
XRP Must Hold Above $1.10 In the short term, XRP continues to trade within a tight range after holding the support around $1.10. Buyers have not yet managed to push the price back above the immediate resistance at $1.11, leaving the token stuck in consolidation.
The current situation suggests that a move below $1.10 could send XRP toward $1.08. On the other hand, a break above $1.11 could open the door for a move to $1.13.
Technical indicators also send mixed signals. The RSI stands at 50, a neutral reading that does not give either buyers or sellers a clear advantage.
XRP Holding Support However, the MACD still shows a modest buy signal with a reading of 0.001, keeping the bullish case alive. Looking at the broader trend, XRP has gained more than 7% in July and still trades above long-term ascending triangle support.
If buyers regain control, XRP first needs to break above $1.1642. A successful move beyond that level could open the way to $1.2318 and then $1.2950, with longer-term resistance sitting near $1.4344. For now, holding above $1.10 remains important if bulls want to keep the current recovery attempt alive.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Ripple is doubling down on institutional adoption of its RLUSD stablecoin with two new initiatives despite on-chain data showing monthly transfer volume has dropped by 26%.
While transaction activity has slowed, the stablecoin continues to attract new users and expand across multiple blockchain networks.
Ripple Targets Institutions With RLUSD Mint and NotabeneOn 23 July, Ripple introduced Ripple Mint, a new platform that allows institutional customers to create, redeem, bridge, and track RLUSD through a web dashboard or direct API integration.
Previously, institutions had to coordinate directly with Ripple to mint RLUSD whenever they deposited U.S. dollars. With Ripple Mint, the entire process is automated, allowing businesses to issue and redeem tokens while tracking each transaction from fiat deposits to on-chain settlement.
Alongside the launch, Ripple also announced a strategic investment in Notabene, a compliance platform that processes more than $2 trillion in annualized transaction volume.
Notabene has received a strategic investment from @Ripple.
We'll collaborate to expand enterprise stablecoin payments by integrating RLUSD into Notabene Flow and exploring how trusted payment authorization can complement Ripple Payments. pic.twitter.com/jNvVywlLuk
— Notabene (@notabene_id) July 23, 2026 The integration places RLUSD within Notabene’s payment network, making it easier for financial institutions to send and receive the stablecoin while meeting global compliance requirements.
RLUSD User Growth Jumps While Transaction Activity SlowsAlthough Ripple continues expanding RLUSD, on-chain data shows that transaction activity has begun to slow down.
The RLUSD stablecoin currently has a market cap of $1.59 billion, although it has declined nearly 5% over the past month.
More importantly, monthly transfer volume has fallen about 26%, dropping from around $14.6 billion to $10.89 billion.
At the same time, network activity is improving in other areas. RLUSD’s monthly active addresses have jumped 68.2 percent to 11,167, while the holder count has increased around six percent over the last month.
On-chain data shows that RLUSD remains distributed across two major blockchain networks, with the XRP Ledger continuing to hold the largest share of the stablecoin’s supply.
Currently, the XRP Ledger accounts for approximately $896.5 million worth of RLUSD, while Ethereum holds around $641.9 million, highlighting XRPL’s growing dominance in the token’s circulation.
Ripple is also expanding RLUSD beyond these two ecosystems. The stablecoin is now available on the XRPL EVM Sidechain, Base, Optimism, Ink, and Unichain, giving institutions greater flexibility to issue, transfer, and use RLUSD across multiple blockchain networks.
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Bitcoin (BTC) is edging higher on Friday, albeit gradually, after reclaiming support above $65,000. Meanwhile, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows. Ripple (XRP), on the other hand, holds above the pivotal $1.10, with its upside structurally constrained below $1.15.
Bitcoin ETFs renew outflows as the US-Iran war persistsThe United States (US) has conducted air strikes for a thirteenth consecutive night, with Iranian media reporting explosions in multiple cities, including Khorramabad, Jask, Ahvaz, and Bandar Abbas.
President Donald Trump stated he is weighing a “massive attack” on Iran and will soon determine whether to resume large-scale military operations. Iranian Foreign Minister Abbas Araghchi described the US action as “mindless aggression,” warning that Washington will now face a steeper price to secure an end to the conflict.
Meanwhile, risk-off sentiment is evident among institutional investors, who drew out roughly $225 million from US-listed spot Exchange-Traded Funds (ETFs) on Thursday, following seven consecutive days of inflows. According to SoSoValue data, cumulative inflows stand at $51.63 billion, with net assets at $78.82 billion, underpinning investors' long-term positive BTC outlook.
Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs continue to recover, with Thursday’s inflows falling to $26 million, from Wednesday’s $73 million. Cumulative inflows edged higher to $11.25 billion from $11.23 billion over the same period, while average assets under management stand at $10.32 billion.
Ethereum ETF flows | Source: SoSoValueAppetite for XRP ETFs has notably lagged that for Bitcoin and Ethereum, with activity remaining muted on Wednesday and Thursday. Looking back, inflows totaled $2.5 million on Monday and roughly $6 million on Tuesday.
According to SoSoValue, cumulative inflows are steady at $1.49 billion, with net assets averaging $1 billion, underscoring investors’ long-term interest in XRP investment products.
XRP ETF flows | Source: SoSoValue“The cryptocurrency market is navigating one of its most complex phases of the year. Bitcoin is no longer driven solely by capital flows or technical indicators; instead, its price action has become a direct reflection of an increasingly intertwined macroeconomic and geopolitical landscape, Simon-Peter Massabni, Head of Business Development at XS.com, said in a comment.
Price analysis: Bitcoin holds higher support Bitcoin trades above $65,000, holding a mildly constructive but still capped tone as price sits above the 50-day Exponential Moving Average (EMA) at roughly $65,150 and the Bollinger Bands’ middle layer near $64,312, while remaining well below the 100-day and 200-day EMAs at about $67,967 and $73,733 respectively.
This configuration suggests an early recovery phase rather than a clean bullish trend, with the Relative Strength Index (RSI) around 55 on the daily chart and the Moving Average Convergence Divergence (MACD) histogram staying comfortably positive, hinting that upside momentum is improving but not yet strong enough to challenge the broader overhead trend filters.
BTC/USDT daily chartOn the topside, initial resistance appears at the upper Bollinger Band around $66,489, where volatility caps the recent bounce, followed by the 100-day EMA near $67,967 and then the more meaningful 200-day EMA around $73,733 as a major medium-term barrier. On the downside, immediate support is provided first by the 50-day EMA at approximately $65,150, with further demand expected at the Bollinger middle band around $64,312. A deeper setback toward the lower band near $62,134 would likely be needed to threaten the nascent constructive bias on the daily timeframe.
Altcoins outlook: Ethereum and XRP show signs a bullish turnaround Ethereum trades at $1,892, holding a neutral-to-bullish tone as price stays above the 50-day EMA near $1,832 and the SuperTrend support around $1,741, but still below the higher-order 100-day and 200-day EMAs. This configuration suggests an ongoing recovery phase within a broader corrective structure, with dip-buying interest emerging above the mid-$1,800s.
The MACD indicator remains in positive territory but has been easing, while the RSI around 58 points to constructive yet not overextended upside momentum.
ETH/USDT daily chartOn the topside, initial resistance appears at the 100-day EMA close to $1,936, and a sustained break above this level would expose the 200-day EMA near $2,183 as the next bullish objective. On the downside, immediate support is defined by the 50-day EMA at roughly $1,832, with a deeper pullback toward the SuperTrend line around $1,741 likely to attract buyers if the current advance pauses or corrects.
XRP, on the other hand, trades at $1.11. The pair remains in a broader bearish context with price holding below the 50-day, 100-day and 200-day EMAs, keeping rallies capped despite the recent rebound from sub-$1.10 levels.
The Parabolic SAR at $1.07 sits underneath spot and suggests nearby trend-follow support, while the RSI hovers around the neutral 50 line on the daily chart, indicating a lack of strong directional conviction as momentum consolidates. The MACD histogram remains marginally positive but is easing, hinting that bullish pressure is waning beneath overhead averages.
XRP/USDT daily chartInitial resistance aligns with the 50-day EMA at $1.14. A daily close above this level would be needed to open the way toward the 100-day EMA at $1.23, with the 200-day EMA higher up at $1.43 reinforcing the medium-term bearish structure. On the downside, immediate support is provided by the Parabolic SAR level at $1.07. A break below this floor would likely expose the pair to a deeper retracement, reinforcing the prevailing downside bias as long as price holds beneath the key EMAs.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP is showing an unusual divergence between price action and capital movement as spot market flows accelerated sharply despite a broadly constructive backdrop for digital assets. While many major cryptocurrencies have benefited from renewed optimism, XRP continues to trade below key resistance levels, even as exchange flow data points to significantly higher activity.
XRP spot flows turn bullishAccording to the latest market data, XRP spot flows recorded a 182% surge over a short-term interval, highlighting a sudden increase in coins moving through spot exchanges. Rather than signaling aggressive accumulation, however, the metric reflects a substantial jump in trading activity from both buyers and sellers, with net spot flows remaining mixed throughout the session.
XRP/USDT Chart by TradingViewThe broader market environment remains relatively supportive. Bitcoin has stabilized after recent volatility, and several large-cap assets have managed to recover part of their losses. XRP, on the other hand, continues to struggle around the $1.10 area after failing to reclaim higher moving averages.
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Pressure never disappearedFrom a technical standpoint, XRP is still locked beneath its 50-day, 100-day, and 200-day moving averages, leaving the long-term trend firmly bearish. The asset recently formed a small ascending support line, but bulls have so far failed to generate enough momentum for a convincing breakout. As long as price remains below the 50-day moving average near $1.11-$1.12, upside attempts are likely to face persistent selling pressure.
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On-chain activity presents a mixed picture. Daily payment volume across the XRP Ledger remains subdued compared to the spike seen at the beginning of July, when transfers briefly exceeded one billion XRP in a single day.
Payment counts remain healthy, however, indicating that network usage has not collapsed despite the slowdown in transferred value. Active user numbers have also held relatively stable over the past month, suggesting the ecosystem continues to maintain a solid base of participants.
The surge in spot flows may therefore represent portfolio repositioning rather than outright bullish accumulation. Traders often increase spot transfers ahead of significant market moves, either to secure profits, rotate capital, or prepare for higher volatility.
Japanese spot Bitcoin (CRYPTO: BTC) ETF market could grow to around $18.4 billion by fiscal 2028 under a bullish adoption scenario.
In a July 24 morning edition, Nikkei noted that the estimate is based on the size of Japan’s household financial assets, its investment fund market, participation in the country’s tax-advantaged NISA investment accounts, and existing domestic demand for cryptocurrencies.
Japanese households hold roughly $14.6 trillion in financial assets.
An $18.4 billion Bitcoin ETF market would account for only about 0.13% of that, suggesting that even a relatively small shift in household portfolios could create a sizable market.
It would also represent around 1% of Japan’s public equity investment fund market, which exceeds $1.8 trillion.
The estimate assumes three primary sources of investment demand.
The first would come from existing cryptocurrency investors seeking BTC exposure through a regulated and familiar investment product; the second would be new retail investors; and lastly, wealthy individuals, corporations, and institutional investors making portfolio allocations to Bitcoin.
Access Could Be The Key CatalystThe central argument behind the $18.4 billion scenario is not that Japanese investors will suddenly make large speculative allocations to Bitcoin. Rather, ETF approval could unlock demand by making the asset easier to purchase and hold through financial systems investors already use.
Japanese investors could gain Bitcoin exposure without directly managing wallets, seed phrases, or crypto exchange accounts. That accessibility could be particularly important for institutions and corporations that require regulated custody, reporting and risk-management structures before allocating capital.
In early July, Japanese crypto exchange SBI VC Trade highlighted that registered accounts surpassed 2 million, indicating rising domestic demand for digital assets. The firm said Japanese companies are also increasingly using Bitcoin and XRP (CRYPTO: XRP) in shareholder benefit programs.
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XRP has entered a significant technical zone as cryptocurrency analyst CasiTrades indicated the token remained in line with the wave patterns identified in her recent analysis. Following a decline, XRP tested a crucial support level before shifting focus to the next resistance area.
Precise support retest and technical structureAccording to CasiTrades, XRP declined within a descending channel across three different charts, eventually reaching a green demand zone near $1.08. After touching this area, XRP stabilized, mirroring the path predicted by her Elliott Wave model. The analyst described this move as a “perfect touch,” highlighting XRP’s precise interaction with the previously defined support level in her charts.
Her technical breakdown also noted that XRP tested the blue horizontal level close to the 1.618 Fibonacci extension at $1.1008 before moving further downward and settling at support. This sequence appears to confirm the wave structure CasiTrades previously outlined for the token.
The market respected a key support near $1.08 and continued to follow the wave sequences marked on the charts, aligning with the analyst’s technical projections.
CasiTrades is an independent cryptocurrency analyst recognized for her application of Elliott Wave Theory to digital assets, frequently sharing chart-based forecasts with the crypto trading community.
Mini dictionary: Elliott Wave Theory is a technical analysis approach that seeks to forecast market trends by identifying recurring wave patterns, often used to predict price movements based on investor psychology.
Momentum indicators and insider strategiesThe Relative Strength Index (RSI), a widely followed momentum indicator, signaled support for the technical setup. As XRP moved into the green support area, RSI dropped toward oversold territory, indicating that selling momentum was weakening as the token reached its projected level.
CasiTrades maintained her primary Elliott Wave count in her latest update, refining only the short-term pattern. Price action traced the light purple path shown in her charts, with the next key area of interest found at resistance near $1.12.
Support LevelCurrent Price TargetMain Resistance$1.08 (Green Zone)$1.12 (Wave 4)$1.1242–$1.1640 (Fibonacci Levels)Despite forecasting a rebound, the analyst disclosed she left her buy orders at $0.93, expressing caution that XRP may still require one last decline before a full breakout. She commented that more price development and confirmation were needed to validate her subwave scenario, adding that further clarity would likely come with the next trading sessions.
Charts continue to suggest a recovery to the $1.12 resistance area, but the possibility of one additional downward move remains if the subwaves continue to play out.
Outlook: Recovery targets set for XRPAs XRP rebounds after testing support, CasiTrades signaled her expectation of a move toward the $1.12 resistance. Her projection maps out an advance along the designated wave path, suggesting that this move forms part of a larger corrective sequence not yet completed.
Technical analysis placed further resistance at the 0.382 Fibonacci retracement level of $1.1242, with additional barriers observed at $1.1341 and $1.1640. For the short term, the analyst’s attention remains focused on the pivot near $1.12, awaiting confirmation from market dynamics and subwave formations before adjusting her strategy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Eight months ago the XRP ETFs launched faster than any product since Ethereum. The bid has since decayed 99%, from $200 million weeks to zero-flow days, leaving $1.49 billion invested, $997 million remaining, and a recovery thesis outsourced entirely to a Senate vote. Here is the full autopsy of a bid, and what its flatline actually prices.
Summary
US spot XRP ETFs launched in November with $667 million in their first month, reaching $1 billion faster than any crypto product since Ethereum’s funds, on an eight-week inflow streak that ran even while Bitcoin funds bled. The bid then decayed by roughly 99%: weekly flows fell from above $200 million to low single-digit millions, the streak ended July 13, and July’s tape shows zero-flow days punctuated by one $7.29 million outflow, the largest since March. The wreckage is precise: $1.49 billion in cumulative inflows now marks against roughly $997 million in net assets, an unrealized deficit near $493 million, with 82% of assets concentrated in three funds and several products flatlined entirely. The one institutional trophy, Goldman Sachs’s $153.8 million position across four funds, is a December-dated 13F snapshot that Bloomberg analysts read as trading-desk facilitation, inside a complex that remains 84% retail-held. The flows have now stabilized at approximately nothing, which the optimistic read calls a floor, and the recovery case has converged on a single external event: the CLARITY Act vote whose odds trade near a coin flip this week. There is a specific moment in the life of every investment product when its story stops being about demand and starts being about anatomy, and for the US spot XRP ETFs that moment can be dated: Monday, July 13, when the daily flow printed zero and an eight-week inflow streak, the product class’s last living narrative, quietly ended. What launched in November as the fastest-growing crypto fund complex since Ethereum’s, $667 million in month one, a billion dollars faster than anyone forecast, institutional validation in fund form, now trades as a case study. The buyers did not rotate, rebalance, or pause. They stopped: from weeks above $200 million to weeks near $2 million, from streak to zero-days, from launch euphoria to a July whose single best session, $6.78 million, amounts to one percent of the early pace. What remains is $1.49 billion of invested capital marking against $997 million of assets, three funds carrying 82% of everything, and a recovery thesis that no longer references the product at all, only a Senate vote. This piece is the full anatomy: how the bid died, what the wreckage precisely looks like, what the lone institutional trophy in the filings actually shows, and what the flatline, honestly read, prices for the asset underneath it.
The decay curve, dated The complex’s eight months divide into three phases so distinct they could belong to different products.
Phase one, the launch bid, ran from November into the winter: $667 million in the first month across seven issuers, the fastest accumulation to $1 billion since Ethereum’s funds, weekly prints above $200 million, and the statistic the marketing decks will never retire, an inflow streak that persisted through weeks when Bitcoin ETFs bled, which was read at the time as evidence of a distinct, durable XRP allocator base. The reading had support: the products launched into the afterglow of the SEC’s surrender, the commodity classification, and the first wave of bank-desk research initiating coverage with conditional price targets in the double digits.
Phase two, the decay, occupied the spring: weekly flows stepped down from nine figures to eight to seven, May still collected over $100 million for the month, and by June the run-rate had thinned to low single-digit millions per week, a decline of roughly 99% from peak that no single event explains and one variable tracks perfectly, the token’s price, which fell from above $2.40 in January to the $1.10s, converting every earlier allocation into a loss and every allocator’s quarterly review into an uncomfortable meeting. Fund flows follow performance with a lag in both directions; the launch streak was the up-lag, and the decay was the down-lag arriving on schedule.
Phase three, the flatline, is July: six sessions of exactly zero flows in the month’s first half, a $7.29 million single-day outflow on July 9, the largest since March, the streak’s formal end on July 13, then a stretch from July 10 through July 20 of zeros and small positives, crowned by the month’s best day, $6.78 million on July 16, driven by two issuers’ desks. The freshest coverage frames the stabilization as survival, the product has not seen an outflow day since July 9, and the framing is technically true and proportionally absurd: the bid that defined the launch is not resting, it is absent, and its absence has become stable. That is what the anatomy shows. The interesting questions are in the tissue.
The wreckage, itemized Four numbers, current as of this week’s data, describe the complex more honestly than any narrative.
$1.49 billion against $997 million. Cumulative net inflows since launch stand near $1.49 billion; total net assets stand near $997 million, roughly 1.45% of XRP’s market capitalization, with about 971 million XRP in custody. The gap, approximately $493 million, is the unrealized loss the allocator base collectively carries, the arithmetic consequence of buying a token averaging well above $1.50 that now trades near $1.10. Every future flow decision the complex’s holders make is made against that deficit, which is the single most important fact in any forecast of the flows resuming: the marginal buyer is being asked to average down into a product whose existing buyers are 33% underwater on invested capital.
82% in three funds. Bitwise holds $312.8 million in assets on $498.3 million of cumulative inflows; Canary $253.2 million on $467.0 million; Franklin $252.2 million on $415.6 million. Together, the top three hold roughly 82% of complex assets, which means the seven-fund complex is functionally a three-fund market with a long tail of products printing zeros. Category-level flow headlines obscure this: an inflow day increasingly means one or two distribution desks had a decent Thursday, and a diversified institutional bid, the launch thesis, would not produce this shape.
84% retail-held. The complex’s ownership base, per the issuer-side analysis that accompanied the spring’s institutional reporting, remains 84% retail, against 48.8% institutional participation in the comparable Solana products, a gap that quantifies how much of the launch narrative, the institutions are here, was distribution, not description. Which frames the trophy correctly.
The Goldman position, read properly. Goldman Sachs’s 13F disclosed $153.8 million across four XRP funds, roughly $40 million in Bitwise, $38.5 million in Franklin, $38 million in Grayscale, $36 million in 21Shares, making it the largest disclosed institutional holder, accounting for 73% of the top 30 institutions’ combined $211 million. The number did real narrative work all spring, and its caveats are the anatomy lesson: it is a December 31 snapshot, disclosed in March, of positions that may not exist today; Bloomberg’s analysts read the four-fund construction as consistent with trading-desk facilitation and client positioning instead of proprietary conviction; and as this publication’s own guide to how to read the Goldman position argues, the form is a rear-view mirror with a 45-day delay, structurally incapable of showing whether the bank held, added, or exited through the subsequent drawdown. The largest institutional XRP position on record is, read strictly, evidence that Goldman’s clients wanted exposure in December. The flows since are evidence of what everyone wanted after.
The geography of the remaining bid One more layer of the anatomy deserves its own examination, because the aggregate US flow numbers conceal a compositional fact with real information in it: through the American flatline, the marginal bid for exchange-traded XRP exposure migrated abroad.
Through the spring decay, European venues carried a share of global XRP product flows out of proportion to their size, with Swiss and broader European ETP wrappers at times representing the substantial majority of weekly net inflows worldwide while the US complex printed its zeros. The absolute sums are modest, European crypto ETPs are an older, smaller, steadier market, but the composition matters for what it falsifies and what it suggests. It falsifies the strongest form of the exhaustion reading: if the asset’s entire allocator universe were fully purchased, the European bid would have flatlined alongside the American one, and it did not. And it suggests where the marginal buyer actually lives: in jurisdictions where the asset’s legal status was never contested, where MiCA-era frameworks settled classification questions years earlier, and where the products consequently trade as ordinary alternatives allocations, not as bets on a Senate calendar.
Read that way, the geographic split becomes the cleanest natural experiment available on the outsourced thesis. The American flows died in the jurisdiction where the asset’s status remains hostage to legislation; the European flows persisted, modestly, in jurisdictions where it does not. If legal permanence is truly the binding constraint on institutional allocation, the CLARITY experiment has already run abroad, and its result, steady but unspectacular demand, prices the upper bound of what passage realistically unlocks: not the JPMorgan-forecast flood, but a normalization to the European pattern, mid-single-digit millions weekly, compounding quietly, unheroically, forever. That is a real bull case, and it is a fraction of the one being marketed.
The alternative reading restores the American market’s exceptionalism: US wealth-management distribution is an order of magnitude deeper than Europe’s, the RIA channel that turned Bitcoin’s ETFs into a $52 billion complex has no European equivalent, and the launch month’s $667 million showed what that distribution can move when it has a story to sell. On this reading, Europe measures the floor of post-CLARITY demand and America’s launch month measured the ceiling, and the truth, as usual, books a room between them. Either way, the geographic ledger deserves a place in every flow analysis this complex receives, because it is the one dataset showing what XRP demand looks like when Washington is not the variable, and it has been quietly reporting that answer, in Swiss francs, all year.
The regulated-channel counterpoint One dataset complicates the pure decay story, and honesty requires it: while the spot complex flatlined, the regulated derivatives channel set records.
CME’s XRP futures built to a peak of $1.4 billion in open interest with 29 large open-interest holders, a record for the venue, even as total XRP derivatives open interest across all venues collapsed from its $10 billion peak by margins reported between 75% and 96%, a deleveraging that wiped out the offshore, retail-levered complex. The split matters because the two channels answer different questions: aggregate open interest tracks speculative leverage, which is gone, while CME positioning tracks the institutions that clear through Chicago, which grew through the wreckage. The honest synthesis is narrower than either headline: the levered retail market deflated, a smaller regulated market matured, and neither flow bought spot tokens, which is why the ETF shelf and the price both starved while the derivatives venue celebrated. Institutional infrastructure and institutional demand are different things, a distinction this asset’s whole history keeps teaching. For the underlying distribution picture, crypto.news has also mapped the supply map under the products.
What the flatline prices Strip the anatomy to its meaning and three readings compete, with the tape currently endorsing the bleakest.
The floor reading, the optimists’ case, holds that the shakeout is complete: outflows never cascaded, the post-July 9 tape shows zero net redemption, the deficit is carried rather than capitulated, and a stabilized base at $1 billion of assets is the platform a catalyst builds on. Its evidence is real, the complex genuinely did not unwind the way GBTC-era products did, and its weakness is that a floor with no bid above it is just a ledge.
The exhaustion reading holds that the launch consumed the entire natural buyer base: the crypto-native allocators, the RIA early adopters, and the bank desks servicing client curiosity all bought in the first two quarters, at prices 40% above the current market, and no second cohort exists at any price the first cohort’s losses will allow advisers to recommend. On this reading the flatline is not a floor but a completed distribution, and the zero-days are what a fully-sold product looks like.
And the outsourced reading, the one the complex’s own defenders now lead with, holds that the flows return when Washington acts: legal permanence unlocks the institutional allocation the launch never actually contained, the 84% retail share inverts, and the JPMorgan-style first-year forecasts the complex undershot get a second life under a market-structure law. This is the reading that matters, because it is the one being priced, and its honest form is uncomfortable: it concedes the product failed to generate durable demand on its own and converts the entire recovery case into a claim about one bill, whose cloture count stands unresolved this very week, whose passage odds trade near a coin flip, and whose own conditional structure, as this publication’s analysis of the conditional targets riding these flows showed, was already the load-bearing wall under every double-digit XRP forecast. The ETF complex, the price targets, and now the flow-recovery thesis have all converged on the same single point of failure. That is not diversification of catalysts. It is concentration, in a legislature, measured at 41% on Polymarket, and the flatline is what an asset looks like while it waits on it.
What to watch The weekly prints against the zero line. The complex has proven it can avoid outflows; the open question is whether anything above $10 million a week ever returns without a legislative trigger. Sustained mid-eight-figure weeks would falsify the exhaustion reading on their own.
The concentration ratio. Watch whether the three-fund share of assets rises above 82%, consolidation continuing, or whether the tail products show life, the only clean signal of a broadening buyer base instead of two sales desks working.
The CLARITY binary, and the day after. Passage would run the outsourced thesis’s experiment in real time: the flows either arrive within weeks, validating everything, or they do not, which would be the most damaging data point in the asset’s institutional history, because it would exhaust the last explanation. Failure of the bill runs the mirror experiment on the deficit’s holders. That is the event the recovery thesis waits on.
The Q1 13F cycle’s ghosts. The May filings covering the drawdown quarter will show whether Goldman and the top-30 cohort held through the decline. A largely intact institutional roster supports the floor reading; a vanished one completes the anatomy.
Eight months ago the XRP ETFs were the proof that institutional demand existed. The anatomy shows what they actually proved: that distribution existed, that a launch window monetized it, and that demand, the durable kind that buys drawdowns, was never located. The complex now holds $997 million, a $493 million scar, and one hypothesis left to test, scheduled for a Senate floor that has not yet set the time. Products usually die of redemption. This one’s fate is stranger: fully built, fully priced, and waiting, with the rest of its asset class, for Washington to tell it whether the buyers were ever real. For context, crypto.news has explained he flow machinery itself.
Frequently asked questions What happened to the XRP ETF inflows? They decayed roughly 99% from launch. The products drew $667 million in their first month from November and sustained an eight-week inflow streak, but weekly flows fell from above $200 million to low single-digit millions by summer. The streak ended July 13, July logged six zero-flow sessions and a $7.29 million outflow day, and the month’s best session brought just $6.78 million.
How much money is in the funds now, and what is the loss? Cumulative net inflows stand near $1.49 billion, while total net assets are roughly $997 million, about 1.45% of XRP’s market capitalization, with approximately 971 million XRP in custody. The gap of roughly $493 million represents unrealized losses on invested capital, reflecting purchases made at substantially higher token prices than the current $1.10 area.
Which funds dominate the complex? Three of seven: Bitwise with $312.8 million in assets, Canary with $253.2 million, and Franklin with $252.2 million, together roughly 82% of all complex assets. The remaining products frequently print zero daily flows, meaning category-level inflow headlines usually reflect activity at one or two distribution desks, not broad-based demand.
Does Goldman Sachs’s position change the picture? Less than headlines suggested. Goldman’s $153.8 million across four funds, disclosed in its Q4 2025 13F, made it the largest institutional holder, about 73% of the top 30 institutions’ combined exposure. But the filing is a December 31 snapshot published in March, Bloomberg analysts read the construction as trading-desk facilitation rather than directional conviction, and the complex overall remains 84% retail-held.
How does the CME futures record fit the story? As a counterpoint about a different market. CME’s XRP futures reached a record $1.4 billion in open interest with 29 large holders even as total XRP derivatives open interest collapsed as much as 96% from its $10 billion peak. The regulated channel matured while offshore leverage deflated, but neither development bought spot tokens, which is why the ETF flows and the price starved simultaneously.
Is the recent stabilization a positive signal? It is the debated question. Since the July 9 outflow, daily flows have been zero or slightly positive, no redemption cascade has occurred, and the deficit is being carried rather than capitulated, the floor reading. The skeptical reading calls the same tape exhaustion: the natural buyer base fully purchased during launch and no second cohort exists at current prices. The flatline is consistent with both until something moves.
Why does everything now depend on the CLARITY Act? Because every other catalyst has been consumed. The SEC resolution, the launches, and the bank coverage all occurred, and the flows died anyway, leaving legal permanence as the last untested explanation for why institutional allocation has not arrived. The recovery thesis for the flows, the analyst price targets, and the asset’s broader institutional case have converged on the same legislative binary, currently priced near a coin flip.
What should investors watch next? Weekly flows against the zero line, with sustained mid-eight-figure weeks as the falsifier of the exhaustion reading; the three-fund concentration ratio, for any sign of a broadening base; the Q1 13F filings covering the drawdown quarter, to see whether the institutional roster held; and the CLARITY vote itself, whose aftermath in either direction runs the decisive experiment on whether the buyers return. This is not investment advice.
Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Flow figures and asset values change daily and reflect data available at the time of writing. Nothing here is a recommendation to buy, sell, or hold any asset or fund. Always do your own research. Information is accurate as of July 24, 2026.
Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.
Simon-Peter Massabni, Business Development Head at XS.com, says that digital assets are facing repricing risks due to rising geopolitical tensions and inflation fears.
“Rising oil prices, renewed inflation concerns, shifting expectations for US monetary policy, and continued institutional capital inflows are all shaping market sentiment,” Massabni said in a comment.
Ripple Mint launches to expand RLUSD accessRipple announced the launch of Ripple Mint on Wednesday, a platform providing a unified way for institutions to access, mint, redeem and manage the RLUSD stablecoin.
Ripple Mint was designed to address existing gaps in RLUSD execution by offering access to a user interface with built-in control and oversight. The platform also supports programmatic access to enable automation and system-level integration.
Institutions using Ripple Mint can mint and redeem RLUSD directly from the source, bridge RLUSD across chains, track funds throughout the transaction lifecycle, and integrate RLUSD into their internal systems or workflows.
“This expansion also creates stronger utility between XRP and RLUSD together. As RLUSD becomes available across these environments, XRP will increasingly serve as complementary assets for liquidity, settlement, swaps, collateral, and payments activity across supported chains,” Ripple stated in the press release.
Meanwhile, institutional interest in XRP-related digital assets, such as spot Exchange-Traded Funds (ETFs), is fading, as evidenced by muted activity on Wednesday and Thursday. Cumulative weekly inflows stand at $8 million through Thursday, according to SoSoValue.
XRP ETF flows | Source: SoSoValue“In my view, what we are witnessing is not the beginning of a new bearish cycle, but rather a healthy repricing of risk following a strong rally, provided that institutional demand remains intact and does not give way to broad-based selling pressure,” Massabni added.
Price analysis: XRP bears poised to tighten gripXRP trades at $1.11, holding in a corrective phase below key moving averages, which keeps the broader bias bearish despite the recent stabilization. Price action remains capped by the 50-day Exponential Moving Average (EMA) at $1.14, with the Parabolic SAR at $1.07 also positioned above spot and reinforcing overhead pressure.
Momentum is mixed, as the Relative Strength Index (RSI) hovers near a neutral 49 while the Moving Average Convergence Divergence (MACD) histogram has turned lower, hinting that bullish attempts are losing traction underneath the dominant downtrend defined by the downward trending moving averages.
XRP/USDT daily chartOn the topside, initial resistance is seen at the Parabolic SAR level around $1.07, followed by the 50-day EMA at $1.14, where a daily close above would be needed to ease immediate downside pressure. Beyond that, the 100-day EMA at $1.23 and the 200-day EMA near $1.43 form a broader supply band that would likely cap any extended recovery unless buyers regain stronger control.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Ripple FAQs Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
The XRP ecosystem has welcomed over $800 million worth of distributed real-world assets this year amid the growing tokenization trend on the network.
The tokenization market has continued to grow in 2026, with its total value now exceeding $410 billion. Current data puts the market at $410.70 billion, made up of $36.72 billion in distributed asset value and $373.98 billion in represented asset value.
Growth has been especially strong in the distributed asset segment. At the beginning of the year, distributed asset value, excluding stablecoins, stood at $25.39 billion. It has since risen to $36.72 billion, as interest in tokenization has gained momentum throughout the year.
XRPL Adds Over $800 Million in Distributed RWA The XRP Ledger has also benefited from the growing interest in tokenized assets. As more attention has moved toward the sector, the network has expanded the value of assets issued directly on the ledger.
Data shows that the XRP Ledger now holds $1.319 billion in distributed asset value when stablecoins are included. Without stablecoins, the figure stands at just $323.18 million.
The network began 2026 with $518 million in distributed real-world assets. Since then, that figure has climbed to $1.319 billion, meaning the XRP Ledger has added exactly $801 million in distributed RWAs this year. The increase shows the network’s growing role in the broader tokenization market.
Distributed RWA on XRP Ledger RLUSD Leads the Growth Ripple’s stablecoin, RLUSD, has driven most of the increase in distributed assets on the XRP Ledger. At the start of the year, RLUSD had a market capitalization of $235 million. It has since grown to $896 million, adding $661 million in value during 2026.
Ripple has supported this growth by increasing RLUSD minting on the XRP Ledger while burning more of the stablecoin on Ethereum. As a result, RLUSD now makes up 67.96% of the XRP Ledger’s total distributed asset value.
The stablecoin ecosystem on the network has also continued to expand. Combined stablecoin market capitalization on the XRP Ledger has reached $995 million, bringing it close to the $1 billion mark.
Alongside RLUSD, Braza USDB contributes $69.44 million, BBRL accounts for $12 million, and USDC adds $5.8 million, with several other stablecoins making up the remainder. These assets have played an important role in increasing the ledger’s distributed asset value.
Total RWA on XRP Reaches $5.35 Billion The XRP Ledger’s tokenized asset ecosystem extends beyond distributed assets. When represented asset value is included, the network now supports $5.35 billion in real-world assets, including stablecoins.
Several tokenized products account for much of that value. The largest is JMWH from Justoken, which is worth $2.229 billion. RLUSD follows with $876 million, while the Ondo Short-Term US Government Bond Fund contributes $222 million. The ASENA FIF – Single Tranche product also represents a significant share with $215.7 million.
These figures confirm how quickly the XRP Ledger’s tokenized asset ecosystem has expanded this year. RLUSD has led the growth in distributed assets, while several large tokenized financial products have strengthened the network’s represented asset value.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP is experiencing a sharp spike in spot market flows, diverging from the broader momentum seen across other major digital assets. Despite an overall constructive sentiment in the cryptocurrency market, XRP continues to trade below critical resistance levels even as activity on exchanges accelerates.
Trading activity spikes despite muted price actionRecent market data shows that spot flows for XRP surged by 182% over a short period, signaling an abrupt increase in coins moving through spot exchanges. However, this rise does not explicitly indicate significant buying or accumulation. Instead, analysts interpret the data as evidence of heightened trading from both sides, reflecting mixed sentiment among participants.
The sustained uptick in trading volume comes at a time when Bitcoin, often seen as a bellwether for the digital asset sector, has stabilized after a period of price turbulence. Several high-cap cryptocurrencies have begun to recover recent losses, but XRP remains stalled below its key $1.10 resistance zone.
Technical signals remain challenging for XRPA technical review finds that XRP is still trading beneath its 50-day, 100-day, and 200-day moving averages. This pattern signals a continued bearish bias for the medium to long term. Despite forming a modest ascending support line, bullish traders have not mustered sufficient strength to propel prices above the major averages.
As long as XRP remains capped below the 50-day moving average, currently located around $1.11 to $1.12, upward attempts are expected to face significant selling interest. Until a decisive breakout above these levels occurs, the outlook is likely to stay cautious.
Moving AverageCurrent Price RelationResistance Range50-dayBelow$1.11 – $1.12100-dayBelow–200-dayBelow–On-chain metrics and market positioningOn-chain activity for the XRP Ledger presents a varied outlook. Daily payment volume has cooled compared to July’s surge, when transactions momentarily exceeded one billion XRP in a single day. Despite this pullback, payment counts remain solid, and the number of active users has remained relatively stable over the past month. This trend suggests that XRP’s core ecosystem continues to see steady participation, even as transferred value retreats.
Ripple, the company closely associated with XRP, was established to facilitate fast and affordable cross-border payments using distributed ledger technology. The XRP Ledger serves as the foundational blockchain supporting the network’s operations for transactions and settlements.
Mini dictionary: XRP Ledger, a decentralized blockchain designed to enable fast and efficient cross-border transactions, supporting the XRP cryptocurrency and its payment ecosystem.
The notable surge in spot flows is viewed by some market participants as a signal of portfolio adjustments and preparation for possible volatility, rather than a clear indication of bullish accumulation. Traders typically increase spot transfers when anticipating significant market moves, whether to lock in profits or to refocus capital deployment.
XRP spot flows climbed 182%, yet the price failed to surpass major resistance zones while market observers viewed the activity as a reflection of portfolio repositioning rather than a new phase of accumulation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
XRP could be repeating the same price pattern that came before its massive rally in the 2017/2018 market cycle.
Latest market data suggests the asset is again moving within a symmetrical triangle, similar to the structure that eventually led to a remarkable 66,000% gain and pushed XRP to $3.31 nine years ago.
The first version of this symmetrical triangle played out over several years. Specifically, it started after XRP fell from its $0.0614 high in December 2013 and continued until the breakout in March 2017.
Once XRP broke above the pattern, an impressive rally ensued. The token climbed more than 66,000%, rising from around $0.005 in March 2017 to a peak of $3.31 in January 2018.
XRP Has Formed A Bigger Triangle The current symmetrical triangle is larger and took much longer to develop than the previous one. Unlike the first pattern, this one has formed over an entire market cycle.
This second triangle started forming after XRP dropped from its $3.31 peak in January 2018. The asset remained inside the pattern for years before finally breaking above the upper resistance line.
XRP broke above the triangle’s main resistance line during the Trump-led November 2024 rally. The breakout triggered a strong move higher, sending the asset from about $0.5 to $3.4 by January 2018. After the rally, XRP pulled back before climbing again to a new all-time high of $3.6 in July 2025.
XRP Triangle Structure Notably, the rally did not continue immediately after reaching that peak. Instead, XRP entered a deep correction that brought it back toward the previous breakout area and rising macro support. This phase represents an important test of the long-term structure, as XRP currently remains in this broader downtrend.
RSI Shows Oversold Conditions Despite the ongoing weakness, one key momentum indicator has moved into an area that previously marked strong accumulation zones.
Notably, the monthly Relative Strength Index (RSI) has dropped into oversold territory at 41.85, near levels where XRP has historically attracted long-term buying interest.
Currently, the price remains weak, market sentiment has become exhausted, and much of the previous rally has faded.
However, the broader breakout structure has not been invalidated. Importantly, traders should prepare for continued volatility, more testing of support, and a difficult path back upward instead of an immediate recovery.
History Suggests a Key Support Level XRP’s current situation resembles what happened after the March 2017 breakout. Following that breakout, XRP dropped to $0.0075 in April 2017. The sudden decline brought the price back to the upper trendline of the triangle, allowing it to complete a successful breakout retest.
After finding support there, XRP resumed its rally and eventually reached $3.31 by January 2018. If buyers defend the present support area this time, the decline could become a normal post-breakout reset instead of the beginning of a larger structural breakdown.
The most important support zone now sits between $0.70 and $0.83, with $0.82 standing out as the key level. This area lines up with the upper trendline of the symmetrical triangle. Holding above that range would help XRP stay above the breakout level and keep the long-term bullish structure intact.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
As XRP regains investor attention, cloud mining platforms like LONG DeFi are highlighting simplified access to digital asset participation and computing power.
Summary
LongDeFi expands cloud mining services as renewed XRP interest drives demand for easier digital asset participation. LongDeFi highlights AI-powered cloud mining platform amid recovering crypto market and growing interest in BTC and XRP. LongDeFi promotes AI-driven cloud mining with newcomer rewards as XRP regains investor attention after World Cup. As the World Cup concludes, the cryptocurrency market continues its recovery, with XRP once again becoming a focus of global investor attention.
With continued institutional investment and the ongoing development of the digital asset market, more and more investors are seeking more efficient and diversified asset allocation methods, hoping to capitalize on the long-term growth opportunities presented by mainstream digital assets such as BTC and XRP.
Under this trend, cloud mining computing power is gradually becoming a crucial infrastructure in the digital asset field. Compared to traditional models, it eliminates the need for equipment purchases and professional maintenance, allowing users to easily participate in the digital asset ecosystem and more conveniently plan for the future.
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150+ global cloud mining data centers Service coverage in 180+ countries and regions 5 million+ global registered users Enterprise-grade computing infrastructure and intelligent operation and maintenance system LongDeFi utilizes a globally distributed computing network, green energy data centers, and a multi-layered security and risk control system to create a more stable, secure, and efficient cloud mining experience for users.
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As the digital asset market continues to develop, more and more investors are focusing on long-term allocation and diversified participation methods. In addition to traditional cryptocurrency investment, cloud mining services have emerged, and platforms are constantly optimizing to provide users with more opportunities to participate in the digital asset ecosystem. Investing in digital assets has also become an option for some users to explore the digital asset ecosystem.
LongDeFi is committed to providing more convenient and secure cloud mining services and continuously optimizing the platform experience to provide users with better services.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Key Takeaways Liquidia's Yutrepia launch has driven strong sales, adoption and three straight profitable quarters. LQDA projects far faster 2026 revenue and EPS growth, backed by rising earnings estimates.United Therapeutics counters with a broad PAH portfolio and late-stage ralinepag pipeline. Liquidia Corporation (LQDA - Free Report) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
United Therapeutics (UTHR - Free Report) boasts six FDA-approved therapies that treat PAH, PH-ILD, and neuroblastoma, a rare pediatric cancer, in its portfolio.
Liquidia and United Therapeutics are locked in a fierce battle in the PAH market, with Liquidia's Yutrepia emerging as a challenger to United Therapeutics' blockbuster Tyvaso franchise. Their competition extends beyond commercial sales to patent disputes and a race to capture a larger share of the inhaled treprostinil market.
Given this backdrop, selecting one stock over the other can be difficult. We therefore evaluate their fundamentals, growth prospects, challenges and valuation metrics to help make an informed decision.
The Case for LQDALiquidia currently markets Yutrepia (treprostinil) inhalation powder, approved by the FDA in May 2025 and launched the following month commercially.
The company also generates revenues through a profit-sharing agreement with Sandoz for the promotion of its generic treprostinil injection in the United States.
Yutrepia is an inhaled dry-powder formulation of treprostinil developed using Liquidia's proprietary PRINT particle engineering technology. The platform is designed to enhance deep lung drug delivery, simplify administration through a low-effort dry-powder inhaler and enable higher dose levels than currently marketed inhaled treprostinil therapies.
The company supports commercialization through a specialized sales force focused on physicians treating PAH and PH-ILD, as well as stakeholders involved in reimbursement and drug distribution.
Since its launch in June 2025, Yutrepia has emerged as a strong growth driver, generating approximately $130 million in first-quarter 2026 sales. The therapy has demonstrated robust adoption, with more than 4,500 unique prescriptions, around 3,750 patients initiating treatment, and nearly 1,000 physicians prescribing the drug.
Its rapid uptake helped Liquidia post its third consecutive profitable quarter, highlighting Yutrepia's growing commercial success.
Beyond its commercial portfolio, Liquidia is advancing a pipeline of therapies for pulmonary vascular diseases. Its lead pipeline candidate, L606, is an investigational liposomal formulation of treprostinil administered twice daily via a next-generation nebulizer. L606 is being evaluated in an open-label study for PAH and PH-ILD, while a global pivotal placebo-controlled trial is underway in PH-ILD.
Liquidia also plans to expand Yutrepia into additional indications, including pulmonary hypertension associated with chronic obstructive pulmonary disease (PH-COPD), idiopathic pulmonary fibrosis (IPF), progressive pulmonary fibrosis (PPF) and Raynaud's phenomenon associated with systemic sclerosis.
The Case for UTHRUnited Therapeutics markets a broad PAH portfolio led by Tyvaso DPI, a dry-powder inhaled formulation of the prostacyclin analogue treprostinil, which was approved by FDA in May 2022 to improve exercise ability in patients with PAH and PH-ILD.
Its portfolio includes nebulized Tyvaso, a nebulized liquid inhaled formulation of treprostinil, approved by the FDA to improve exercise ability in patients with PAH and PH-ILD.
The company also markets Remodulin, a continuously infused treprostinil therapy for PAH administered subcutaneously or intravenously, supported by the user-friendly RemunityPRO infusion pump. Its PAH portfolio further includes Orenitram, an oral extended-release treprostinil tablet, and Adcirca (tadalafil), an oral PDE-5 inhibitor licensed from Eli Lilly through the end of 2026.
Sales of Tyvaso products continue to grow, driven by higher volumes and continued growth in commercialization utilization. Moreover, Orenitram offers a convenient oral treatment option that avoids the challenges associated with continuous infusion therapies, such as Remodulin, and inhaled therapies requiring multiple daily administrations.
The company remains focused on developing additional therapies for PAH and pulmonary fibrosis (PF).
Ralinepag, an investigational, highly selective and potent prostacyclin (IP) receptor, is one of United Therapeutics' most promising late-stage pipeline assets. The candidate is being developed in two formulations — an oral version and a DPI version (RAL-DPI).
Based on positive data from the pivotal phase III ADVANCE OUTCOMES study, United Therapeutics intends to submit a new drug application for ralinepag (to treat PAH) to the FDA by the second half of 2026.
If approved, oral ralinepag could strengthen United Therapeutics’ leadership in PAH and potentially offset future competitive pressure on older products.
Beyond the oral formulation, United Therapeutics is also developing inhaled dry-powder versions of ralinepag, RAL-DPI, in collaboration with MannKind Corporation. While initially targeting PAH, management sees opportunities for RAL-DPI in PH-ILD, IPF and PPF. Together, the oral and inhaled formulations position ralinepag as a potential cornerstone of United Therapeutics' future growth strategy.
Outside its PAH franchise, the company markets Unituxin for the treatment of high-risk neuroblastoma.
UTHR strengthened its long-term regenerative medicine strategy by acquiring preclinical stage biotech Thymmune Therapeutics for $140 million upfront, with up to $160 million in milestone payments. The deal adds THY-100, a stem cell-derived thymic cell therapy being developed for congenital athymia, and a platform with potential applications in organ transplantation, autoimmune diseases and immune deficiencies. The acquisition broadens United Therapeutics' pipeline beyond PAH.
A Look at Estimates: LQDA versus UTHRThe Zacks Consensus Estimate for LQDA’s 2026 sales implies a year-over-year increase of 315.77%, while that for earnings per share (EPS) suggests a year-over-year improvement of 477.5%. The Zacks Consensus Estimate for 2026 EPS has moved north to $3.02 from $2.97 and that for 2027 EPS has increased to $4.92 from $4.81 in the past 60 days.
LQDA’s Estimate Movement
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UTHR’s 2026 sales implies a year-over-year increase of 1.46%, while that for EPS suggests a year-over-year decline of 4.41%. EPS estimates for 2026 have moved south to $26.63 in the past 60 days but those for 2026 have moved north to $31.66 from $31.09 during the said time frame.
UTHR’s Estimate Movement
Image Source: Zacks Investment Research
Price Performance and Valuation of LQDA and UTHRFrom a price-performance perspective, LQDA has fetched better returns than UTHR so far in the year. Shares of LQDA have surged 158.2%, while those of UTHR have gained 8.7%. The industry has gained 1.4% in the said period.
Image Source: Zacks Investment Research
From a valuation standpoint, LQDA is more expensive than UTHR. LQDA’s shares currently trade at 8.74X forward sales, higher than 6.50X for UTHR.
Image Source: Zacks Investment Research
Which Stock Is a Better Pick for Now?LQDA currently sports a Zacks Rank #1 (Strong Buy), while UTHR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Although United Therapeutics remains the established leader in PAH with a diversified portfolio, a robust late-stage pipeline and expansion into regenerative medicine, much of its growth appears incremental.
In contrast, Liquidia is in the early stages of a rapid commercial expansion, driven by the impressive launch of Yutrepia, expanding label opportunities and a promising pipeline. The company's superior revenue and earnings growth outlook, upward estimate revisions, stronger year-to-date share price performance and better Zacks Rank outweigh its premium valuation.
While UTHR remains a solid long-term holding, Liquidia offers the more compelling growth story and greater upside potential at current levels, making LQDA the better pick for investors seeking higher returns.
XRPL Commons has introduced a structured three-track grants program designed to boost developer engagement and support innovation across the XRP Ledger (XRPL) ecosystem. This initiative aims to empower open-source developers, startups, and established blockchain projects as XRPL continues to expand its reach and technological capabilities.
Supporting ecosystem buildersEstablished as a non-profit, XRPL Commons works to advance the XRPL environment by providing education, incubation, funding, and ecosystem support for developers worldwide. Since 2017, total investment in XRPL ecosystem projects has crossed $550 million, with XRPL Commons playing a significant role in nurturing talent and supporting promising initiatives.
The organization reports that the funding landscape has shifted from a centralized model to a collaborative approach, where multiple independent groups come together to back builders on the ledger. After training hundreds of developers, running The Aquarium incubator since 2023, and launching the Glow initiative for rewarding open-source contributions, XRPL Commons now combines these efforts into a formal, multi-stage grants program for all stages of project development.
Three-track grants program detailsThe first track, Glow, rewards developers for completed open-source contributions to the XRPL ecosystem. Supported work includes developer tools, infrastructure improvements, documentation, security enhancements, and protocol development. Glow applications open quarterly and are planned through December 2026. Since launching in October 2025, Glow has already funded 11 projects covering topics such as node management, transaction analytics, and advances in post-quantum cryptography.
Mini dictionary: Post-quantum cryptography, a field of cryptography focused on developing algorithms that are secure against the potential capabilities of quantum computers. Its goal is to protect sensitive information even in a future where quantum computing could undermine standard cryptographic methods.
The second track targets early-stage teams building new applications on XRPL. This stage includes Make Waves, a 90-day competition that recognizes projects achieving the strongest user engagement and on-chain activity. The Aquarium, a nine-week incubator program, extends its reach internationally with online participation, offering technical mentorship and business guidance. Early Stage Grants deliver milestone-based financial support for projects already running on XRPL testnet or mainnet, focusing on teams that can demonstrate measurable adoption and progress.
Boosting enterprise adoption and network expansionThe third grant track serves established blockchain products integrating XRPL infrastructure. For example, LOBSTR, a major wallet in the Stellar ecosystem, recently integrated XRPL following a strategic partnership with XRPL Commons. This move connects over 1.5 million LOBSTR users directly to the XRPL network, expanding their access to its features.
XRPL Commons highlights that these integrations are driven by the ledger’s enterprise-ready architecture, offering a native decentralized exchange that operates without MEV or front-running, compliance-friendly Permissioned DEX capabilities, integrated payment features, escrow, and cross-currency settlements. Transaction finality is achieved in 3–5 seconds, and fees remain well below one cent, providing developers and enterprises with a low-cost, high-speed platform for financial applications.
XRPL FeatureDescriptionNative DEXNo MEV or front-runningPermissioned DEXBuilt-in compliance for regulated marketsTransaction Finality3–5 secondsFeesFractions of a centEscrow & Payment ChannelsSupport for programmable payments and settlementsRecent growth within the XRPL ecosystem is supported by Messari’s Q1 2026 report, showing 3.7 billion transactions processed and a 35.3% quarter-over-quarter rise in daily transaction volume to 2.48 million. Tokenized real-world assets on the ledger reached a record $2.25 billion, reflecting a 124.1% increase over the previous quarter and demonstrating mounting institutional interest in the platform.
Additional ecosystem partnerships have fueled momentum. Alongside LOBSTR, RedotPay recently launched an RLUSD card powered by XRPL in more than 100 countries. This card allows users to obtain stablecoin-backed credit without having to liquidate their XRP holdings.
XRPL Commons points to expanded enterprise adoption and new funding initiatives, saying that these three tracks offer builders—from individual developers to enterprise-scale products—a pathway to accelerate innovation and adoption on the XRP Ledger.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
EGRAG CRYPTO, a respected technical analyst in the XRP ecosystem, has reflected on the rapid evolution of both XRP and its community since the early days of the cryptocurrency. His recent analysis emphasizes the asset’s journey from minimal technical scrutiny to frequent coverage by an expanding group of experts.
The Analyst Landscape Has ShiftedEGRAG CRYPTO noted that when the XRP Ledger launched in 2012, dedicated technical analysis around the asset was extremely limited. By 2018, he was already privately analyzing XRP and Bitcoin, focusing on structures such as Fibonacci levels, moving averages, and market cycles. At the time, few analysts publicly applied advanced tools like Elliott Wave and Wyckoff methodology to XRP.
By 2021, when he began sharing his insights openly, EGRAG CRYPTO had become one of the earliest public commentators to consistently produce technical analysis for the XRP community. Since then, the landscape has diversified significantly. More analysts have entered the space, studying XRP’s price action and long-term trends using various technical approaches.
Many now apply distinct methods and may disagree about short-term movements, but a growing number of analysts often reach similar long-term conclusions regarding XRP’s structural outlook.
He believes that this diversity of opinion, coupled with recurring structural patterns identified by independent analysts, strengthens overall understanding and community resilience. For him, the presence of respectful debate helps sharpen analytical frameworks and transforms conviction into informed conviction.
A Timeline Built on StagesIn his post, EGRAG CRYPTO outlined a progression in XRP’s growth. The journey began with fundamentals, advanced through a period dominated by a handful of technical analysts, and has now reached a phase of broad-based public sharing among a larger expert group.
He projects that the next phase will focus on global adoption, anticipating that institutions, banks, corporate entities, developers, and individuals around the world will increasingly utilize XRP and the XRP Ledger for practical use cases.
Mini dictionary: The XRP Ledger is an open-source, decentralized blockchain developed by Ripple for fast and cost-effective cross-border payments. Its consensus mechanism allows quick transaction settlement without mining.
Supporting this outlook, EGRAG CRYPTO shared an illustration depicting a timeline from 2012 through 2076 and beyond. The visual summarizes growing community participation and envisions a future where XRP use spans the globe.
Consistency of VisionThroughout his years covering XRP, EGRAG CRYPTO has maintained a consistent analytical approach even when few paid attention to the asset. Today, he observes others building on some of the foundational ideas he recognized years ago.
He concludes by expressing optimism about the direction of the community, stating that joint learning and collaboration will pave the way for future growth.
Together, we study. Together, we learn. Together, we rise.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple has introduced Ripple Mint, a new platform designed to help institutions mint, redeem, bridge, and manage RLUSD—the company’s stablecoin—through both a user interface and API integrations. This move aims to bolster RLUSD’s significance in tokenized finance as the trend toward automated treasury workflows gathers pace.
Ripple Mint and RLUSD integrationAccording to Ripple, current RLUSD institutional users already have access to Ripple Mint and its suite of features. The launch is positioned as a key step in providing essential infrastructure for major financial firms, enabling real-time transaction visibility and seamless integration with their existing treasury operations.
The host of Crypto Sensei, a cryptocurrency-focused channel, noted that the platform’s automation and transparency are intended to help accelerate the uptake of digital asset infrastructure in traditional finance circles. Ripple’s focus is to make RLUSD a central settlement tool for tokenized assets and funds, offering liquidity beyond the traditional exchange-traded stablecoin model.
BNY Mellon’s role in stablecoin reservesBNY Mellon serves as custodian for RLUSD’s underlying cash and Treasury-backed reserves. The bank, one of the world’s largest custodians, has extended its digital asset settlement infrastructure to support Ripple’s stablecoin ambitions and broaden the access of its institutional network to the tokenized finance sector.
With approximately $54 trillion in assets under custody or administration, BNY Mellon accounts for more than 20% of the world’s investable assets. Its partnership with Ripple reflects an ongoing shift as established banking institutions explore digital asset models and custody solutions.
Mini dictionary: BNY Mellon is a global bank and financial services company known for its asset servicing, investment management, and digital custody offerings, playing a key role in financial market infrastructure.
Tokenized treasuries and always-on marketsWhile tokenized Treasury settlement products are growing, they remain relatively small compared to the traditional bond market. U.S. Treasuries outstanding exceed $30 trillion, while the current market for tokenized Treasury products was estimated at around $7.4 billion.
The push for “always-on” markets aims to make Treasury, collateral, and credit transaction infrastructure available 24/7. In this setting, RLUSD could operate as a cash-equivalent form of settlement liquidity for tokenized assets, facilitating round-the-clock operations rather than functioning solely as a stablecoin for exchange trading.
In the pursuit of continuous settlement, RLUSD is positioned to support the liquidity needs of tokenized funds and Treasury instruments, potentially transforming it from a traditional stablecoin into an institutional-grade settlement solution.
Institutional applications and XRP-backed receiptsCrypto Sensei indicated that Ripple Prime, the company’s institutional digital asset platform, has reportedly begun issuing depository receipts backed by XRP. This structure lets institutions post XRP as collateral and, in return, access dollar-denominated credit. Such a mechanism makes it possible for institutions to gain trading exposure, including to CME futures, without needing to directly sell their XRP holdings.
Some financial institutions face restrictions on holding crypto assets directly. The creation of receipts representing XRP held in custody could allow these firms to manage exposure to digital assets through traditional portfolio systems. The current scale and list of official counterparties for this initiative have not been disclosed publicly.
Mini dictionary: Depository receipts are transferable financial instruments that represent ownership of securities or assets held by a custodian, allowing institutional investors to gain indirect exposure to underlying assets.
Some institutional desks may not have the regulatory clarity required to directly hold crypto, so XRP receipts facilitate access and credit without breaching internal policies.
XRP ETF exposure growsThe analyst also cited an uptick in U.S. spot XRP ETF activity, which is approaching $1 billion in assets under management. Current figures suggest these ETFs are about 23 million XRP away from surpassing that milestone, highlighting increasing institutional interest in XRP-based investment products.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Signature Youth Initiative Anchors the Second Annual Impacting the Carolinas Campaign; First Horizon Bank Named Presenting Partner of Bee-Ball For All
, /PRNewswire/ -- The Charlotte Hornets have announced First Horizon Bank (NYSE: FHN or "First Horizon") as the presenting partner of Bee-Ball for All, the organization's signature youth engagement platform and cornerstone of the second annual Impacting the Carolinas initiative. Through Bee-Ball for All presented by First Horizon Bank, the Hornets will distribute 10,000 basketballs to youth through participating Boys & Girls Club locations across North and South Carolina, expanding access to the game while creating opportunities for mentorship, literacy, wellness and community engagement throughout the region.
First Horizon Bank and Charlotte Hornets Bee-Ball for All Event - Northridge Middle School, Charlotte NC To officially tip off the initiative, Hornets, First Horizon Bank and Boys & Girls Club leaders – along with Hornets Legend Muggsy Bogues – gathered at Northridge Middle School on Thursday, July 23 for a formal announcement and youth basketball clinic celebrating the launch of the two-state distribution effort. The event served as the beginning of a broader effort that will place 10,000 basketballs into the hands of children across North and South Carolina.
"This isn't just about giving away basketballs; it's about opening doors for youth development in multiple ways," said Justin Rutledge, Senior Vice President and Charlotte Market President for First Horizon Bank. Laura Bunn, Executive Vice President and Mid-Atlantic Regional President for First Horizon Bank added, "Sports also build teamwork, discipline and skills youth will carry through their lives. While we're proud to celebrate in Charlotte today, the mission reaches far beyond this community. Bee-Ball for All helps us connect with youth across the Carolinas, so opportunities aren't limited to one city, but shared across more than 200 Boys & Girls Clubs spanning North and South Carolina."
"Partnerships like this allow us to make a greater impact than we ever could alone. We are incredibly grateful to First Horizon Bank for sharing our commitment to investing in youth and strengthening communities throughout the Carolinas," said Hornets Sports & Entertainment Senior Vice President of Community Impact Betsy Mack. "Together, we are creating opportunities for young people to grow, learn, build confidence and connect through the game of basketball."
Launched in 2025, Impacting the Carolinas is designed to strengthen Hornets Sports & Entertainment's community impact and regional presence across North and South Carolina while reinforcing the organization's commitment to being the Team of the Carolinas.
About First Horizon
First Horizon Corp. (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
About Hornets Sports & Entertainment
Hornets Sports & Entertainment (HSE) owns the Charlotte Hornets and the Greensboro Swarm (NBA G League), and operates Spectrum Center, the premier destination for sports and entertainment in the Carolinas. Charlotte's first professional sports team, the Hornets joined the NBA in 1988 and are a member of the Eastern Conference's Southeast Division. HSE is committed to positively impacting the Carolinas through community programming and the Charlotte Hornets Foundation. Spectrum Center is celebrating its 20th anniversary and reopened following a two-phased renovation as a fully transformed world-class arena in the heart of Uptown Charlotte. Through the years, Spectrum Center has hosted nearly 2,500 events and has welcomed more than 25 million guests. Directly across from Spectrum Center, the state-of-the-art Novant Health Performance Center is being built to enhance player development and foster a culture of high performance.
For more information, please visit hornets.com, gsoswarm.com or spectrumcentercharlotte.com
XRP has achieved several major milestones that investors once hoped would trigger a significant price rally. These include resolving its lengthy legal dispute with the US Securities and Exchange Commission, the emergence of seven spot XRP exchange traded funds holding over $1 billion in assets, and the expansion of Ripple‘s ecosystem through products like RLUSD, a stablecoin pegged to the US dollar.
Institutional adoption grows but price action disappointsAlthough Ripple, the company behind the XRP Ledger (XRPL), has secured critical regulatory clarity and increased institutional interest, XRP’s price has not yet reflected these gains. According to CoinCodex, XRP is trading at $1.09, which remains about 70% down from its 2025 all time high of $3.65.
CoinMarketCap observed that discussions around XRP have shifted from whether the asset has improved its regulatory and adoption outlook, to questioning why sustained demand has yet to materialize despite these positive developments.
Ripple has seen significant institutional inflows following its regulatory victories. The approval and subsequent growth of seven spot XRP ETFs, which now manage over $1 billion, indicate rising interest from traditional markets and asset managers.
At the same time, Ripple continues to enhance XRPL’s utility. By launching RLUSD and supporting new on-chain liquidity solutions, the company seeks to increase the use of XRPL across enterprise-grade payment and tokenization applications.
Mini dictionary: RLUSD, a stablecoin issued by Ripple, is designed to facilitate faster payments and higher on-chain liquidity by maintaining a fixed value pegged to the US dollar and operating natively on the XRP Ledger.
Metric2025 All Time HighCurrent ValueXRP Price$3.65$1.09Spot XRP ETFsN/A7 ETFs, $1B+ in assetsStrengthening fundamentals and technical outlookRipple CEO Brad Garlinghouse emphasized XRP’s advantage over the SWIFT network for cross border settlement. Garlinghouse cited the speed and reliability of XRP transactions as key factors reducing settlement and counterparty risk when compared with traditional banking infrastructure, where transactions may take several days to complete.
XRP’s rapid transaction settlement enables financial institutions to minimize exposure and risks typically associated with delayed cross border payments, setting it apart from legacy systems like SWIFT.
Meanwhile, Ripple has focused on advancing tokenization, digital asset custody, and global payment solutions. These expansions go beyond mere speculative interest and aim to entrench XRPL’s real-world relevance for financial institutions and enterprises.
Technical analysts are closely watching XRP for what could be an important price inflection. Market analyst EGRAG CRYPTO stated that XRP appears to be undergoing a significant macro breakout retest, and predicted that if confirmed, the next major upside target could be $6.40. Long-term projections see this figure rising even further should a sustained bull market emerge.
Many investors remain cautious, waiting for a confluence of factors such as broader crypto market strength, growing ETF inflows, expanding adoption, and a convincing breakout before expecting any reversal in XRP’s current trend.
Despite favorable regulatory and technical advancements, XRP has yet to sustain the buying momentum required to overcome its recent downtrend.
Market participants are now looking for renewed strength across multiple fronts, including a positive shift in broader cryptocurrency demand, continued increases in institutional participation, and real world adoption of XRPL solutions to drive a breakout above long-standing price resistance levels.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Three leading cryptocurrency advocacy organizations in the United States have called on the Senate to approve the CLARITY Act, urging lawmakers to establish a more defined regulatory framework for digital assets.
Joint push for regulatory clarityThe Digital Chamber, Chamber of Digital Commerce, and Blockchain Association delivered a collective statement requesting Senate leadership to pass the CLARITY Act. These groups asserted that the current lack of regulatory guidelines for digital assets could erode the country’s edge in blockchain innovation, as other countries advance regulatory policy more quickly.
BankXRP, an independent blockchain researcher, highlighted that industry stakeholders remain concerned about ongoing regulatory ambiguity, which continues to deter large-scale institutional participation in digital assets such as XRP.
The CLARITY Act aims to provide a comprehensive legal structure outlining the classification of digital assets as securities or commodities. Such distinctions have significant implications for companies and investors operating in the space.
The Digital Chamber, Chamber of Digital Commerce, and Blockchain Association urged that clear legislation could restore the United States’ global competitiveness and help institutional participants enter the market with greater certainty.
Impact on XRP and institutional adoptionRipple, the technology company behind XRP and the XRP Ledger, has expanded beyond its initial cross-border payments focus into areas such as stablecoins, asset custody, tokenization, and enterprise blockchain solutions. The firm has launched RLUSD, a stablecoin product designed to offer new options for digital transactions.
The groups argued that regulatory certainty under the CLARITY Act would enable banks, payment providers, asset managers, and investment firms to develop new financial products and services based on XRP. This could reduce legal risk, facilitate capital commitments, and make long-term planning easier for institutions considering entry into the crypto sector.
Developers and businesses may also become more willing to build decentralized finance (DeFi) protocols, tokenize real-world assets, or launch blockchain applications using the XRP Ledger if federal rules are clarified. Increased development in these areas could enhance network activity and utility, supporting greater demand for XRP.
Exchanges, custodians, brokerage platforms, and potential ETF issuers would benefit from a clear legal framework for XRP, potentially accelerating new institutional products and investment channels tied to the asset.
Industry consensus around the CLARITY Act signals growing support for comprehensive crypto regulation in the United States, according to the groups. This unified approach has the potential to drive bipartisan momentum within Congress.
For XRP, passage of the CLARITY Act represents a possible turning point, as it could resolve lingering regulatory concerns and enable Ripple and its partners to bring expanded products and real-world blockchain applications to a wider institutional audience.
Mini dictionary: The Digital Chamber, Chamber of Digital Commerce, and Blockchain Association are major U.S.-based nonprofit organizations that advocate for policies supportive of blockchain innovation, industry standards, and regulatory clarity for digital assets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Most major cryptocurrencies are trading lower on July 24, 2026, with Bitcoin down 0.85% to $65,104.61 and sharper declines across Ethereum, XRP, and Solana, all off more than 2%. Two forces are compounding today: a broader risk-off move across financial markets tied to rising oil prices and escalating US-Iran military tensions, and fading confidence in the CLARITY Act’s path through the US Senate, with prediction-market odds for 2026 passage falling to 38% from 46% just a day earlier.
Key Takeaways Crypto is trading broadly lower today, with Bitcoin down 0.85% and sharper declines of more than 2% across Ethereum, XRP, and Solana. Rising oil prices tied to escalating US-Iran military tensions have pushed Treasury yields higher and pressured risk assets broadly, including crypto and equities like the Nasdaq. The CLARITY Act’s Senate outlook has darkened, with prediction markets cutting implied 2026 passage odds to 38% after Senate Democrats criticized the latest draft’s ethics and consumer-protection language. Dogecoin (DOGE) is down more sharply than other majors today, continuing its pattern of amplifying broader market moves in both directions. Not every asset is down — Monero (XMR) remains up sharply for the week, a reminder that today’s decline isn’t uniform across the entire market. Today’s Main Drivers Macro pressure and geopolitical risk. Oil prices have surged toward $88.60 a barrel amid escalating US military action linked to Iran, pushing Treasury yields higher and dampening risk appetite across both crypto and equities — the Nasdaq fell over 2% this week on the same pressures. This kind of broad risk-off move tends to hit crypto alongside, not separately from, traditional risk assets.
CLARITY Act uncertainty deepens. The bill’s Senate outlook, which looked genuinely promising just days ago on reports of a White House ethics-package agreement, has darkened after Senate Democrats criticized the latest draft as insufficient on ethics and consumer protections. Senate Majority Leader John Thune has acknowledged the bill will likely miss its pre-recess deadline, and prediction markets have responded by cutting implied 2026 passage odds to 38%. For the fullest picture, see Crypto News Today and Crypto Market Today.
Other Factors Worth Noting Uneven declines across assets. Dogecoin is down more sharply than Bitcoin or Ethereum today, consistent with its history of amplifying broader market moves in both directions due to lower relative liquidity and a heavily retail trading base.
Monero moving against the trend. XMR remains up sharply for the week even as most of the market pulls back, a reminder that today’s decline reflects broad market pressure rather than a uniform, asset-by-asset sell-off.
Bitcoin ETF inflows remain positive. Despite today’s price action, Bitcoin ETFs have logged seven consecutive days of net inflows — a genuinely supportive signal that institutional demand hasn’t broken down alongside the price pullback.
Is This a Bad Sign, or Normal Volatility? Today’s declines, while broader than some recent sessions, remain within the range of normal crypto volatility. Bitcoin is still up 3.58% for the week despite today’s drop, and the immediate catalysts — oil prices, geopolitical tensions, and a specific legislative timeline — are identifiable rather than mysterious. That said, the combination of deteriorating CLARITY Act odds and rising macro pressure is a genuine, not merely cosmetic, shift from the more optimistic mood earlier in the week, and it’s worth taking seriously rather than dismissing as routine noise.
What Would Reverse Today’s Trend? A CLARITY Act stabilization. Any sign that Senate leadership has found a path to address Democrats’ ethics and consumer-protection concerns, or confirmation that floor action will begin before the recess, would likely ease some of today’s regulatory-driven pressure.
Easing geopolitical tensions. A de-escalation in US-Iran military tensions and a pullback in oil prices would remove one of the two compounding pressures currently weighing on risk assets broadly.
Continued ETF inflows. An eighth consecutive day of Bitcoin ETF inflows would reinforce the case that institutional demand remains intact despite today’s price weakness and darkening regulatory outlook.
This article is for informational purposes only and does not constitute financial advice. Always conduct independent research before making investment decisions.
Frequently Asked Questions Why is Bitcoin down today specifically? Bitcoin is down 0.85% today as rising oil prices tied to US-Iran tensions and fading CLARITY Act passage odds combine to pressure risk assets broadly across the market. It's a genuine shift from the more optimistic mood earlier in the week, though BTC remains up 3.58% for the week despite today's decline.
Is today's crypto dip something to worry about? The decline is broader than some recent sessions but still falls within normal volatility ranges, and Bitcoin remains up for the week overall. The underlying catalysts — oil prices, geopolitical tensions, and a specific legislative timeline — are identifiable and worth monitoring rather than dismissing, but don't yet signal a deeper structural problem.
Which cryptocurrencies are down the most today? Dogecoin has fallen more sharply than Bitcoin, Ethereum, or XRP today, consistent with its tendency to amplify broader market moves due to lower relative liquidity. Ethereum, XRP, and Solana are all down more than 2%, while Bitcoin's decline has been comparatively more modest by comparison. This detail matters most for anyone actively tracking today's market movements.
When will crypto recover from today's dip? There's no fixed timeline. The clearest potential catalysts are a stabilization in the CLARITY Act's Senate outlook, an easing of US-Iran geopolitical tensions and oil prices, or continued Bitcoin ETF inflows extending their current seven-day streak, any of which could shift sentiment relatively quickly given how closely the market has been tracking these stories.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
