President Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve capitalized with Bitcoin seized through federal criminal and civil asset forfeiture proceedings nationwide. The U.S. federal government holds approximately 328,372 BTC as of February 2026, making it the largest known state holder of Bitcoin in the world by a significant margin. Bitcoin deposited into the Strategic Bitcoin Reserve cannot be sold under current rules, effectively removing approximately 328,372 BTC from the circulating supply against Bitcoin’s 21 million coin hard cap. Interagency disputes between the Treasury Department and Commerce Department over custody and operational control have delayed full implementation of the reserve as of mid-2026 reporting. The BITCOIN Act (S.954) proposes acquiring up to one million BTC, while the American Reserve Modernization Act, introduced in May 2026, seeks a 20-year mandatory holding period. On March 6, 2025, President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve, the first federal program to treat Bitcoin as a sovereign reserve asset alongside gold and petroleum.
The order directed that Bitcoin seized through law enforcement operations be consolidated into a permanent reserve that cannot be sold. A separate U.S. Digital Asset Stockpile was created for non-Bitcoin digital assets. As of mid-2026, the reserve faces implementation challenges, including interagency disputes over custody.
This article explains how the reserve works, what legislation is pending, and what it means for Bitcoin markets.
How the Executive Order Created the Reserve The March 6, 2025, executive order directed the Treasury Department to establish custodial accounts collectively known as the Strategic Bitcoin Reserve. The reserve was capitalized with all BTC held by the Treasury through final criminal or civil asset forfeiture proceedings.
Other agencies were directed to evaluate their authority to transfer government-held Bitcoin to the reserve within 30 days, as specified in the Federal Register filing.
The key rule is unambiguous: Bitcoin deposited into the reserve cannot be sold. The executive order stated that holdings “shall not be sold and shall be maintained as reserve assets of the United States.” The Secretaries of the Treasury and Commerce were authorized to develop budget-neutral strategies for acquiring additional Bitcoin, provided those strategies impose no incremental costs on taxpayers.
The order also created the U.S. Digital Asset Stockpile for non-Bitcoin assets. The stockpile operates under a different framework, with the development of “stewardship strategies” encouraged rather than a blanket no-sale rule, as the Lathrop GPM legal analysis explained.
The distinction between the Bitcoin reserve and the digital asset stockpile is significant. Bitcoin received the elevated “strategic reserve” designation with a permanent no-sale mandate. All other digital assets were placed in a secondary category with more flexible disposition rules.
This two-tier structure reflects the administration’s view that Bitcoin’s fixed 21 million coin supply and 16-year security track record set it apart from other digital assets.
Current Holdings and Supply Impact The U.S. federal government is the largest known holder of Bitcoin in the world. Total holdings stood at approximately 328,372 BTC as of February 2026, according to Wikipedia’s tracking of government disclosures. The initial tranche was estimated at roughly 200,000 BTC drawn from assets confiscated in law enforcement operations over multiple years, as Crypto Briefing reported.
The no-sale designation has direct supply implications. Approximately 328,372 BTC are now effectively removed from circulation, locked in government wallets with no mechanism to return them to the market under current rules. For an asset with a hard cap of 21 million coins, that represents roughly 1.56% of the total possible supply permanently off the table.
Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, stated in March 2025 that selling some U.S. gold holdings would be a budget-neutral way to acquire more Bitcoin, as reported by multiple outlets.
White House spokesperson Liz Huston stated the administration “continues to evaluate the best structure for a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.
Legislative Efforts to Codify the Reserve Multiple bills aim to convert the executive order into permanent law. The BITCOIN Act (S.954), introduced by Senator Cynthia Lummis with five co-sponsors in March 2025, proposes authorizing the acquisition of up to one million BTC over five years by diversifying existing federal funds.
Representative Byron Donalds introduced H.R.2112, which would give the executive order the force and effect of law, as recorded on Congress.gov.
The American Reserve Modernization Act (ARMA), introduced in May 2026, seeks to codify the reserve framework and impose a 20-year mandatory holding period on the assets. Neither the ARMA nor the BITCOIN Act has passed as of mid-2026.
The CLARITY Act’s uncertain timeline in the Senate suggests that comprehensive crypto legislation faces a narrowing window before the November 2026 midterm elections. The gap between executive action and legislative codification is the reserve’s most significant vulnerability. An executive order can be reversed by a future president.
Without congressional authorization, the reserve’s permanence depends entirely on political continuity. The multiple competing bills also suggest that lawmakers have not yet agreed on the reserve’s operational details, including acquisition authority, holding periods, and governance structure.
Interagency Disputes and Implementation Delays As of mid-2026, disputes between the Treasury and Commerce departments over custody and operational control have delayed full implementation. The March 2025 executive order assigned Treasury a central role in establishing accounts and managing holdings, but also directed Commerce to participate in acquisition strategy development.
The delay affects practical decisions around custody, auditing, interagency transfers, and any future acquisition strategy.
In January 2026, Patrick Witt, then executive director of the President’s Council of Advisors for Digital Assets, stated that the administration remained committed to establishing the reserve. However, the operational details remain unresolved.
Regulatory Implications The reserve sits at the intersection of asset forfeiture, sovereign treasury management, and digital asset custody. Congressional passage of the BITCOIN Act or ARMA would create a durable legal framework. Without legislation, the reserve’s status depends on executive authority alone.
Federal banking regulators, including the OCC and FDIC, announced in March 2025 that banks no longer need advance permission for crypto activities, complementing the reserve’s broader policy direction.
What’s Next? The Treasury and Commerce departments are expected to resolve the custody dispute in 2026. The ARMA bill’s 20-year holding provision, if passed, would establish the reserve’s longest proposed lock-up period.
The November 2026 midterm elections may determine whether crypto-friendly legislation advances or stalls. For markets, the reserve’s impact hinges on whether the government moves from holding forfeited Bitcoin to actively acquiring additional coins.
FAQs What is the U.S. Strategic Bitcoin Reserve?
The Strategic Bitcoin Reserve is a federal program established by executive order in March 2025 to hold Bitcoin seized through law enforcement as a permanent sovereign reserve asset.
How much Bitcoin does the U.S. government hold?
The U.S. federal government held approximately 328,372 BTC as of February 2026, making it the largest known state holder of Bitcoin in the world by a significant margin.
Can the government sell Bitcoin from the Strategic Reserve?
No, the March 2025 executive order states that Bitcoin deposited into the Strategic Bitcoin Reserve shall not be sold and must be maintained as reserve assets of the United States.
What is the BITCOIN Act?
The BITCOIN Act (S.954) is a Senate bill proposing authorization to acquire up to one million BTC over five years through diversification of existing federal funds without additional taxpayer costs.
How does the Bitcoin reserve differ from the Digital Asset Stockpile?
Bitcoin receives a strategic reserve designation with a permanent no-sale mandate, while non-Bitcoin digital assets enter a separate stockpile with more flexible stewardship and disposition options.
Why is there a dispute between Treasury and Commerce over the reserve?
The executive order assigned overlapping roles to both departments, creating friction over which agency controls custody, auditing, acquisition strategy, and operational management of the reserve assets.
Could a future president reverse the Strategic Bitcoin Reserve?
Yes, executive orders can be reversed by future presidents, which is why congressional legislation like the BITCOIN Act and ARMA seeks to codify the reserve permanently into federal law.
References The White House (March 2025). “Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.” White House. Federal Register (March 11, 2025). “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.” Federal Register. Congress.gov (2025). “H.R.2112: Establishment of the Strategic Bitcoin Reserve.” Congress.gov. Crypto Briefing (July 2026). “US Strategic Bitcoin Reserve Established as Long-Term National Asset.” Crypto Briefing.
Bitcoin (CRYPTO: BTC) tapped $65,000 on Wednesday as several on-chain indicators flash the strongest accumulation signal since the 2022 bear market.
Bitcoin Enters Historically Undervalued ZoneIn a Milk Road interview on July 14, Bitcoin Magazine Pro analyst Matt Crosby said Bitcoin may still revisit lower levels, but current valuations create an "asymmetric opportunity" as technical, fundamental and macro indicators converge near historically important support zones.
Bitcoin recently dropped to a range between $57,000 and $58,000, placing its valuation in the bottom 5% of historical readings.
The comparable readings appeared near the 2018 bear market bottom, March 2020 COVID-19 crash and 2022 bear market lows.
Crosby noted that investors waiting for a precise bottom, usually risk missing a sharp recovery. Bitcoin has historically moved quickly after completing its capitulation phase.
Several long-term indicators continue to point toward the $48,000 to $53,000 range as a potential downside support zone.
Bitcoin’s realized price sits near $53,000, while the long-term holder realized price is around $50,000.
The asset continues to trade near its 200-week moving average, which has served as a major bear market support level throughout most of its history.
Has Time-Based Capitulation Ended?Crosby described Bitcoin bear markets as having two stages: a sharp price-based capitulation followed by months of sideways trading that wears down investor sentiment.
During the 2022 bear market, Bitcoin spent roughly 156 days between its initial crash below $20,000 and its final low near $16,000.
Applying the same timeline to the current cycle pointed to around July 12 as a possible end to the time-based capitulation period.
Bitcoin historically rallied sharply within 100 days after completing similar phases, though Crosby said the current bottom can only be confirmed in hindsight.
Despite recent outflows, spot Bitcoin ETFs have reduced their total holdings by only around 18% from their peak, suggesting longer-term investors have maintained significant exposure through the downturn.
Image: Shutterstock
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The US military has begun examining options for a potential air assault on Cuba, with planning centered around the Army’s 101st Airborne Division, according to a CBS report. No final decisions have been made by President Trump or the Pentagon, but the mere existence of these contingency discussions adds another layer of geopolitical risk to a year that already has investors on edge.
What’s happening on the ground The planning reportedly stems from intelligence indicating Cuba has acquired over 300 military drones from Russia and Iran. Those numbers have raised alarms about potential threats to US interests in the Caribbean, including the naval station at Guantanamo Bay.
Since February 2026, the US has ramped up intelligence-gathering flights near Cuba’s coastline. The aircraft involved, P-8A Poseidons and MQ-4C Tritons, are the kind of surveillance platforms you deploy when you’re building a serious operational picture.
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These discussions follow US military operations in Venezuela earlier this year. President Trump has made recent public statements regarding Cuba, though the contingency planning is described as early-stage and routine rather than an active military undertaking.
What investors should actually watch The most important signal right now is whether this stays in the contingency-planning phase or moves toward active preparation. There’s a meaningful difference between military planners sketching options on a whiteboard and the 101st Airborne Division actually staging equipment.
For crypto-specific positioning, the historical playbook suggests watching Bitcoin’s correlation with gold during periods of military escalation. When Bitcoin trades as “digital gold,” geopolitical risk tends to be bullish. When it trades as a risk-on tech proxy, the same headlines can be bearish.
Stablecoin flows are another tell. During past geopolitical shocks, capital has tended to rotate from volatile crypto assets into USDT and USDC as traders move to the sidelines without fully exiting the ecosystem. A spike in stablecoin market cap without a corresponding rise in Bitcoin or Ethereum prices would signal that smart money is bracing for impact.
Traders should also keep an eye on the dollar. Military escalation in the Western Hemisphere could strengthen the dollar through safe-haven flows, which historically creates headwinds for Bitcoin. Alternatively, if markets interpret the escalation as fiscally irresponsible, the dollar could weaken, providing a tailwind.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Volume Has All But DisappearedCrypto's biggest assets are barely moving. According to Santiment, top-cap trading volumes have been sliding since July 2024 and are now sitting at their weakest average levels in roughly two years. This is not a crash. It is a slow drift, and it is broad-based. Santiment data shows the drop spans multiple top-cap coins simultaneously, with $BTC, $ETH, and other large-cap assets all showing the same pattern. The analytics firm describes the mood as one of exhaustion rather than aggression, with traders unwilling to commit in either direction.
The institutional side tells the same story. Glassnode's 30-day moving average of daily trading volume across US spot Bitcoin ETFs now sits at $1.25 billion, a 78% collapse from the $5.8 billion peak recorded in late 2025. Activity has also slipped below 2024 levels. Glassnode framed the slowdown as a loss of attention rather than a temporary lull, noting that a sustained recovery in $BTC price momentum would likely require participation to return from other asset classes.
Thin Books, Two EdgesLow volume markets are not neutral. Order books are shallow, which means price can move in either direction on relatively small flows. Rallies fade quickly when there is no depth behind them. But the same dynamic works in reverse: when sellers are done, it does not take much spot buying to shift the market.
Santiment has historically noted that crypto's strongest recoveries have emerged from periods when interest, volume, and participation were at their lowest. The current setup fits that profile. Sidelined capital sitting in stablecoins and money market funds means even a modest reallocation could produce an outsized move. The risk is timing. Low volume can persist for weeks or months without a change in direction, and capitulation is not a precise market timer. Until a catalyst appears, whether from macro clarity, a regulatory shift, or a concentrated inflow, the market risks grinding sideways on minimal flow.
Sources
BeInCrypto: What Washed-Out Crypto Sentiment Means for Bitcoin's Next Move
BeInCrypto: BlackRock Claim Fuels ETF Panic as Trading Hits Cycle Lows (Glassnode data)
Blockonomi: Crypto Trading Volumes Drop to Two-Year Lows
ORANGE JUICE has raised $40 million to launch a permanent capital company that will acquire, improve, and hold American businesses while building a Bitcoin treasury.
The company is positioning itself as a long term alternative to traditional private equity, allowing founders to transition ownership without placing their businesses on a fixed resale timeline.
“Building a business takes decades. Founders deserve more than one path when it is time to transition ownership,” founding partner Nico Lechuga said. “We believe permanent capital offers an important alternative to traditional private equity.”
ORANGE JUICE will initially target stable businesses generating between $1 million and $10 million in annual cash flow across multiple sectors.
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Acquired companies will retain their identities, while founders will have the option to retire, remain in leadership roles, or transition gradually. Sellers will receive part of their consideration in ORANGE JUICE equity, allowing them to retain exposure to the company’s future growth.
The company was founded by partners from Bitcoin venture capital firm ego death capital, including Jeff Booth, Lyn Alden, Nico Lechuga, and Andi Pitt. Adrian Steckel also joined as a founding partner, while Ruben Zweiban will serve as operating partner.
Mexican billionaire Ricardo Salinas, founder and chairman of Grupo Salinas, is participating as the anchor investor.
“Cash flow is king, and you cannot count on governments to protect the value of your money,” Salinas said. “ORANGE JUICE is built on both, cash flowing companies and a Bitcoin treasury. That is why I am backing this team.”
Cash generated by acquired businesses will be reinvested into additional acquisitions or allocated to the company’s Bitcoin treasury. ORANGE JUICE said it plans to use leverage conservatively while maintaining access to capital markets.
The company is also assembling an internal operating team focused on improving portfolio companies and helping them adopt artificial intelligence as productivity tools reshape traditional businesses.
ORANGE JUICE intends to pursue a public listing in the future, which would give the company access to public capital markets and provide a liquid ownership currency for future acquisitions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
15 July 2026 | 22:37 Bitcoin’s recovery to approximately $64,850 has increased the probability that the June low could develop into a broader market floor.
Price has moved above the 50-day moving average for the first time during the latest recovery attempt, although the available technical and onchain data does not yet confirm that a durable bottom is in place.
Glassnode data shows that long-term holder losses have started easing and buyers absorbed supply around the June lows. Bitcoin now faces a more demanding test between $66,000 and $68,400, where options positioning, profit-taking and the average cost basis of recent buyers converge.
Bitcoin’s bottom is still building, but its character is shifting.
That is Glassnode’s assessment, rather than confirmation that the cycle low is already established. The shift refers to cooling long-term holder capitulation, broad buying around the June lows and Bitcoin’s advance toward key cost-basis resistance, while the lack of sustained spot demand remains the missing confirmation.
Key Takeaways Long-term holder losses eased after exceeding $390 million daily. Bitcoin remains below $66,000 max pain and $68,400 break-even. June dip buyers are already realizing short-term profits. A sustained $68,400 reclaim could strengthen the bottoming case. Higher spot volume is needed for stronger confirmation. Bitcoin Reclaims the 50-Day Average Bitcoin was trading near $64,850 at the time of writing, slightly above its declining 50-day simple moving average at approximately $64,115. A daily close above that level would mark an early technical improvement because the average has acted as resistance during the recovery from June’s low.
The 50-day SMA is also watched by discretionary traders and rules-based strategies, so a sustained close above it can influence re-entry decisions and reinforce the signal through follow-on buying.
Bitcoin price action with technical indicators. The daily Relative Strength Index stood near 55.7, above both the neutral 50 level and its signal line around 50.7. Momentum has therefore shifted in buyers’ favor without reaching overbought conditions, leaving room for further upside if demand continues.
The current move does not yet establish a broader trend reversal. Bitcoin remains below the falling 100-day average near $70,600 and the 200-day average around $73,500, creating substantial overhead resistance even if price clears the immediate $66,000-$68,400 cost-basis zone.
The distinction is important: reclaiming the 50-day average would confirm that the short-term structure is improving, while holding above $68,400 would show that the average recent buyer has moved back into profit. Bitcoin would need both developments to materially strengthen the case that the June low could become a durable market floor.
Four Signals Make a Bitcoin Bottom More Plausible The first improvement came from Bitcoin’s response to the macro environment. Between July 9 and July 15, BTC gained approximately 5.1% according to the report, compared with roughly 1.3% for the S&P 500 and 0.4% for the Euro Stoxx 50. Crypto led the reaction rather than simply following equities.
Bitcoin outperforms equities following CPI release. The move accelerated after the U.S. Consumer Price Index declined 0.4% in June, while core prices were unchanged. The softer signal was reinforced by producer-price data released on July 15, which showed final-demand prices falling 0.3% after a 0.6% increase in May, while the annual rate slowed from 6.5% to 5.5%. Together, the reports reduced the immediate pressure for additional Federal Reserve tightening, although a 0.2% rise in service-sector producer prices showed that inflation had not weakened uniformly.
One inflation report cannot establish a lasting change in monetary conditions. Bitcoin’s stronger response nevertheless indicates that sellers had become less aggressive and that investors were prepared to add exposure when the macro backdrop improved.
The second signal comes from the Entity-Adjusted Long-Term Holder Realized Loss. The metric climbed above $390 million per day around its cycle peak before beginning to ease in the latest data.
BTC Long-term holder capitulation peaking and easing. A decline does not mean long-term holders have stopped selling. It means losses realized by that cohort are no longer accelerating at the same rate, reducing one of the main sources of supply that repeatedly interrupted Bitcoin’s earlier recovery attempts.
Bitcoin also remains above its realized price near $52,900. This metric estimates the market-wide cost basis by valuing each coin at the price when it last moved onchain. Trading above it suggests the aggregate supply remains in profit, separating the current structure from deeper capitulation phases in which BTC falls below the average cost basis of the entire network.
The realized price is a valuation reference rather than guaranteed support. Exchange activity, internal wallet transfers and Glassnode’s entity-clustering methodology mean it should not be treated as an exact record of what every investor paid.
The fourth signal is Bitcoin’s proximity to the aggregated options max-pain level at $66,000. BTC was trading approximately 2% below that threshold, placing price close to a level that Glassnode says has historically aligned with shifts toward a more constructive derivatives regime when sustainably reclaimed.
Bitcoin testing crucial $66K max-pain level. Max pain is not permanent resistance. It changes as options expire and traders adjust their positions, so its value lies in showing the current concentration of derivatives exposure rather than predicting where Bitcoin must settle.
June Buyers Are Supplying the Recovery The principal counter-signal comes from short-term holders. Their realized profit on a 24-hour average has risen toward $4.5 million per day, reaching volumes last seen around the May market high. Long-term investors are still realizing losses at the same time, leaving two different cohorts selling into the recovery for different reasons.
Short-term holder realized profit trends emerging. The short-term holder activity appears contradictory because the average recent buyer remains underwater. Bitcoin was trading near $65,000, while the short-term holder cost basis stood around $68,400.
The profitable sellers are therefore not representative of every coin acquired during the previous 155 days. They are more likely concentrated among investors who bought near the June lows around $60,000 and can now lock in gains of roughly 8% before BTC reaches the broader cohort’s break-even level.
This connects the bullish and bearish readings. Buyers who absorbed supply during the June decline helped stabilize the market, but part of that same group is now returning coins to circulation. Their earlier demand supported the rebound; their profit-taking becomes additional resistance before underwater buyers are made whole.
Early buyers realizing gains is normal during a recovery and does not invalidate the possibility of a durable low. The question is whether new demand can replace them quickly enough to prevent their selling from exhausting the advance.
Three Seller Groups Sit Above Bitcoin The resistance between current price and the upper cost-basis levels is distributed across three thresholds:
$66,000: The aggregated max-pain level, where current options positioning may affect short-term price behavior. $68,400: The short-term holder cost basis, where the average recent buyer returns to break-even. $76,400: The True Market Mean, which estimates the acquisition cost of economically active supply. Together, these levels define the supply overhang, the zones where more market participants may be incentivized to sell or hedge, increasing the demand required for Bitcoin to continue higher.
That does not mean there is no support between $65,000 and the realized price. Previous range levels, trading volume and fresh accumulation can create demand around $60,000 or elsewhere. It means the cost-basis models do not identify an equally important aggregate holder threshold immediately beneath the market.
What Could Strengthen the Bottoming Scenario Step 1: Daily Close >$66,000
Step 2: Reclaim $68,400
Step 3: Break Short-Term Cost Basis
Step 4: Weekly Close with Spot Volume
A sustained daily close above $66,000 would clear the immediate options threshold. The stronger confirmation would be a subsequent reclaim of $68,400, followed by price holding that level as support.
Moving above the short-term holder cost basis would shift the average recent buyer from an unrealized loss into profit. It would also demonstrate that the market can absorb both profit-taking from June dip buyers and loss realization from investors who entered near the cycle highs.
A weekly close above the zone, supported by stronger spot volume and sustained spot Bitcoin ETF inflows, might make the bottoming interpretation more credible. Glassnode’s data shows that derivatives traders are reducing bearish exposure, but closing shorts and allowing downside hedges to expire is not equivalent to new spot capital entering the market.
The scenario would weaken if short-term holder profit-taking remains near May-peak levels while Bitcoin is rejected again around $66,000. Renewed acceleration in long-term holder losses would add a second warning that the available demand cannot absorb both seller groups.
Under that outcome, the recovery could become another lower high rather than the start of a trend reversal. The $52,900 realized price would remain the principal market-wide valuation anchor below, although Bitcoin could encounter intermediate support before reaching it.
Taken together, the data makes the possibility of a Bitcoin bottom more credible than it appeared during the June selloff, but the evidence remains incomplete. Selling pressure is no longer intensifying, the market remains above its aggregate cost basis and favorable macro news is attracting demand. The decisive test could be whether BTC can reclaim the $66,000–$68,400 zone without the rally being exhausted by the investors who bought the June lows.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
In brief BIP-110 would restrict several methods used to embed non-financial data in Bitcoin transactions. Supporters say the proposal would reduce blockchain spam, while critics argue it would invalidate legitimate transactions and risk a chain split. Despite attracting little miner support, BIP-110 has become one of Bitcoin's biggest governance debates in years. A proposal to change Bitcoin's consensus rules has divided developers, miners, companies, and users over how the network should evolve and who gets to decide.
The dispute centers around Bitcoin Improvement Proposal 110, or BIP-110. If implemented, BIP-110 would temporarily restrict several methods used to embed arbitrary data in Bitcoin transactions.
Supporters say the proposal would reduce blockchain spam and reinforce Bitcoin's role as money, while critics argue it would reject valid transactions and could split the network.
The debate has drawn reactions from Bitcoin developer Luke Dashjr, Blockstream CEO Adam Back, Strategy Executive Chairman Michael Saylor, Casa Chief Security Officer Jameson Lopp, and Bitcoin advocate Samson Mow.
“There are 110 things more dangerous to Bitcoin than spam. BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions,” Saylor wrote on X. “That precedent is the danger. We should save our energy for threats that really matter.”
What would BIP-110 change?Bitcoin transactions can include more than payments. They can also carry text, images, token metadata, and other information through transaction scripts and witness data.
As a soft fork, BIP-110 would tighten Bitcoin's consensus rules by limiting several techniques used to embed that data. The proposal would limit most new transaction outputs to 34 bytes, restore an 83-byte limit for OP_RETURN outputs, cap certain witness elements at 256 bytes, and temporarily restrict several Taproot features commonly used for inscriptions. (Inscriptions are to Bitcoin what NFTs and other similar assets are to blockchain networks like Ethereum and Solana.)
Critics argue that BIP-110 would invalidate some transactions that are currently valid under Bitcoin's consensus rules and set a precedent for future protocol changes. In a February blog post, Jameson Lopp argued that BIP-110 would weaken two of Bitcoin's defining properties: censorship resistance and predictability.
“Bitcoin's strength lies in its censorship resistance and predictability,” Loop wrote. “BIP-110 signals that the protocol can be altered to censor subjectively ‘undesirable’ transactions, eroding its image as permissionless programmable money.”
BIP-110's mandatory signaling period begins in August, and so far, only 1% of miners have shown support for BIP-110, according to the proposal's monitoring dashboard.
Blockstream CEO Adam Back argued that Bitcoin's decentralized design prevents users from imposing their preferences on others and that its technical consensus process is intentionally resistant to change. While supporters are free to create their own fork, he wrote, "Bitcoin won't be joining it."
“Now the tough pill, which is unfortunately true,” Back wrote on X. “If you won't listen to reason, educate yourself, learn, the same radical freedom applies to you: your permissionless recourse is to club together and create a fork.”
The debate began with OrdinalsThe current dispute dates back to early 2023 with the launch of Ordinals, a protocol created by Bitcoin developer Casey Rodarmor that allows images, text, video, and other digital content to be inscribed directly onto individual satoshis, the smallest unit of Bitcoin. Ordinals use features introduced by Bitcoin's SegWit and Taproot upgrades to create NFT-like assets directly on the Bitcoin blockchain.
As Ordinals and BRC-20 tokens gained popularity, demand for Bitcoin block space increased, pushing transaction fees higher. Supporters say those fees generated additional revenue for miners and strengthened Bitcoin's long-term security.
However, critics, including Dashjr, have argued that inscriptions exploit the Bitcoin network, describing them as spam rather than legitimate financial transactions.
Mow urges consensusIn an essay posted to X on Tuesday titled The Bitcoin Alliance, Samson Mow argued that Bitcoin participants should think of themselves as an alliance rather than a community, with developers, miners, companies, educators, and users each contributing to the network in different ways.
“During the Blocksize War, there was never this ‘if you're not with us, you're against us’ mentality on our side,” he wrote. “The small block camp never had to coerce anyone to join. We just all "got it" and were confident in our position.”
For reference, the Blocksize Wars (2015–2017) centered on whether Bitcoin should increase its 1 MB block size limit to process more transactions in a single block on the network. In the end, the "small block" camp won out, with "big blockers" forking off to create Bitcoin Cash in 2017 and later Bitcoin SV in 2018.
Mow wrote that he shares concerns about blockchain spam but opposes BIP-110 because he believes protocol changes require broad consensus. Mow also criticized Bitcoin Core developers for their handling of recent OP_RETURN policy changes, arguing that both sides contributed to escalating the dispute.
“The way they handled the OP_RETURN change was full of stupid mistakes, from banning people on GitHub to the ninja ACKs,” he wrote. “Any normal person could have predicted the reaction from the plebs. People store their time and value in Bitcoin. Anything that appears to threaten that will get people up in arms.”
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In brief BIP-110 would restrict several methods used to embed non-financial data in Bitcoin transactions. Supporters say the proposal would reduce blockchain spam, while critics argue it would invalidate legitimate transactions and risk a chain split. Despite attracting little miner support, BIP-110 has become one of Bitcoin's biggest governance debates in years. A proposal to change Bitcoin's consensus rules has divided developers, miners, companies, and users over how the network should evolve and who gets to decide.
The dispute centers around Bitcoin Improvement Proposal 110, or BIP-110. If implemented, BIP-110 would temporarily restrict several methods used to embed arbitrary data in Bitcoin transactions.
Supporters say the proposal would reduce blockchain spam and reinforce Bitcoin's role as money, while critics argue it would reject valid transactions and could split the network.
The debate has drawn reactions from Bitcoin developer Luke Dashjr, Blockstream CEO Adam Back, Strategy Executive Chairman Michael Saylor, Casa Chief Security Officer Jameson Lopp, and Bitcoin advocate Samson Mow.
“There are 110 things more dangerous to Bitcoin than spam. BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions,” Saylor wrote on X. “That precedent is the danger. We should save our energy for threats that really matter.”
What would BIP-110 change?Bitcoin transactions can include more than payments. They can also carry text, images, token metadata, and other information through transaction scripts and witness data.
As a soft fork, BIP-110 would tighten Bitcoin's consensus rules by limiting several techniques used to embed that data. The proposal would limit most new transaction outputs to 34 bytes, restore an 83-byte limit for OP_RETURN outputs, cap certain witness elements at 256 bytes, and temporarily restrict several Taproot features commonly used for inscriptions. (Inscriptions are to Bitcoin what NFTs and other similar assets are to blockchain networks like Ethereum and Solana.)
Critics argue that BIP-110 would invalidate some transactions that are currently valid under Bitcoin's consensus rules and set a precedent for future protocol changes. In a February blog post, Jameson Lopp argued that BIP-110 would weaken two of Bitcoin's defining properties: censorship resistance and predictability.
“Bitcoin's strength lies in its censorship resistance and predictability,” Loop wrote. “BIP-110 signals that the protocol can be altered to censor subjectively ‘undesirable’ transactions, eroding its image as permissionless programmable money.”
BIP-110's mandatory signaling period begins in August, and so far, only 1% of miners have shown support for BIP-110, according to the proposal's monitoring dashboard.
Blockstream CEO Adam Back argued that Bitcoin's decentralized design prevents users from imposing their preferences on others and that its technical consensus process is intentionally resistant to change. While supporters are free to create their own fork, he wrote, "Bitcoin won't be joining it."
“Now the tough pill, which is unfortunately true,” Back wrote on X. “If you won't listen to reason, educate yourself, learn, the same radical freedom applies to you: your permissionless recourse is to club together and create a fork.”
The debate began with OrdinalsThe current dispute dates back to early 2023 with the launch of Ordinals, a protocol created by Bitcoin developer Casey Rodarmor that allows images, text, video, and other digital content to be inscribed directly onto individual satoshis, the smallest unit of Bitcoin. Ordinals use features introduced by Bitcoin's SegWit and Taproot upgrades to create NFT-like assets directly on the Bitcoin blockchain.
As Ordinals and BRC-20 tokens gained popularity, demand for Bitcoin block space increased, pushing transaction fees higher. Supporters say those fees generated additional revenue for miners and strengthened Bitcoin's long-term security.
However, critics, including Dashjr, have argued that inscriptions exploit the Bitcoin network, describing them as spam rather than legitimate financial transactions.
Mow urges consensusIn an essay posted to X on Tuesday titled The Bitcoin Alliance, Samson Mow argued that Bitcoin participants should think of themselves as an alliance rather than a community, with developers, miners, companies, educators, and users each contributing to the network in different ways.
“During the Blocksize War, there was never this ‘if you're not with us, you're against us’ mentality on our side,” he wrote. “The small block camp never had to coerce anyone to join. We just all "got it" and were confident in our position.”
For reference, the Blocksize Wars (2015–2017) centered on whether Bitcoin should increase its 1 MB block size limit to process more transactions in a single block on the network. In the end, the "small block" camp won out, with "big blockers" forking off to create Bitcoin Cash in 2017 and later Bitcoin SV in 2018.
Mow wrote that he shares concerns about blockchain spam but opposes BIP-110 because he believes protocol changes require broad consensus. Mow also criticized Bitcoin Core developers for their handling of recent OP_RETURN policy changes, arguing that both sides contributed to escalating the dispute.
“The way they handled the OP_RETURN change was full of stupid mistakes, from banning people on GitHub to the ninja ACKs,” he wrote. “Any normal person could have predicted the reaction from the plebs. People store their time and value in Bitcoin. Anything that appears to threaten that will get people up in arms.”
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Bitcoin has slipped below $65,000 after Iran rejected renewed prospects for peace talks with the United States, adding fresh pressure to risk assets as military operations continue.
Summary
Iran rejected U.S. peace talks despite Trump’s claim that Tehran wants a deal. Bitcoin fell below $65,000 as renewed U.S.-Iran tensions weighed on markets. Polymarket traders see only a 20% chance of peace talks resuming this month. Iran’s Foreign Ministry said there are currently no plans for negotiations with the United States, with the country’s immediate priority remaining its defense efforts. The statement came after U.S. President Donald Trump claimed during a FOX interview that Iran had reached out earlier and wanted to make a deal, suggesting diplomatic contact could resume.
The conflicting messages have arrived as the U.S.-Iran conflict intensifies once again. Over recent days, both countries have continued exchanging strikes, while Trump has reinstated the Iranian blockade in the Strait of Hormuz and warned that Washington could expand military operations if Tehran does not return to negotiations.
According to data from crypto.news, Bitcoin (BTC) briefly gave up earlier gains and fell below the $65,000 level, changing hands at around $64,800, down less than 1% on the day. The decline interrupted a rally that had followed softer-than-expected U.S. Producer Price Index (PPI) data earlier in the session.
Fresh military operations keep risk appetite under pressure While inflation data initially supported cryptocurrencies, renewed military developments shifted investors’ attention back to geopolitical risks.
Earlier in the day, the U.S. Central Command (CENTCOM) announced on X that it had completed a 90-minute wave of strikes targeting coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island. According to CENTCOM, the operation was intended to reduce Iran’s ability to threaten commercial shipping through the Strait of Hormuz.
Hours later, CENTCOM announced another escalation. In a separate post on X, the command said U.S. forces launched a second wave of strikes at 3 p.m. ET, targeting Iranian military capabilities used to threaten vessels transiting the Strait of Hormuz. CENTCOM described the waterway as vital to global commerce and said the operation was carried out under the direction of the U.S. Commander in Chief.
At 3 p.m. ET, U.S. forces launched operations for a second wave of strikes today against Iran. The strikes are targeting Iranian military capabilities used to threaten vessels freely transiting through the Strait of Hormuz, an international waterway vital to global commerce. The…
— U.S. Central Command (@CENTCOM) July 15, 2026 CENTCOM stated that the strikes further reduced Iran’s capability to threaten commercial shipping passing through the Strait of Hormuz, one of the world’s most important energy trade routes. The latest operation follows several days of escalating military exchanges between Washington and Tehran, adding another layer of uncertainty for global financial markets.
crypto.news had earlier reported that cryptocurrencies strengthened after U.S. PPI inflation figures came in below economists’ expectations, reinforcing hopes that inflation pressures may continue easing. However, those gains faded as developments surrounding the U.S.-Iran conflict became the dominant market catalyst.
Prediction markets point to limited optimism for diplomacy Beyond price action, prediction markets continue to indicate low expectations for a diplomatic breakthrough this month.
Data from crypto-based prediction platform Polymarket shows traders currently assign only a 25% probability that another round of U.S.-Iran peace talks will take place before the end of July. Although prediction markets do not guarantee future outcomes, they offer a real-time view of participant expectations based on active trading.
Source: Polymarket Attention is also turning toward Iran’s senior leadership for additional guidance on the country’s position. Mohammad Qalibaf, identified as Iran’s top negotiator in the referenced reports, is expected to issue a statement later today addressing the ongoing conflict and recent military developments.
For now, financial markets remain caught between improving U.S. inflation data and rising geopolitical uncertainty. While softer inflation initially supported demand for Bitcoin and other digital assets, Iran’s rejection of negotiations, continued U.S. military strikes, and uncertainty surrounding future diplomatic efforts have kept traders focused on geopolitical headlines as the next major driver of market sentiment.
Bitcoin rose above the $65,000 mark on Wednesday after the latest US wholesale inflation data came in cooler than expected.
The Producer Price Index (PPI) fell 0.3% in June from the previous month, marking its largest monthly decline since April 2025. On an annual basis, headline PPI dropped to 5.5%, below economists' expectations of 6.2%.
Core PPI, which excludes food and energy prices, also slowed to 4.7%, missing forecasts of 5.2%. The moderation reflected easing wholesale price pressure, particularly from lower energy and trade services costs.
The broader crypto market reacted positively to the inflation report, with Ethereum (ETH), XRP and Solana (SOL) rising 3%, 2% and 1.3%, respectively, following the release. The recovery in crypto also follows Tuesday's cooler-than-expected Consumer Price Index (CPI) report, giving investors two consecutive signs that inflationary pressure may be easing.
Bitcoin's sustained recovery hinges on Fed policy decision, easing global tensionsThe back-to-back releases have fueled expectations that the Federal Reserve (Fed) could maintain a less restrictive policy stance, according to Bitunix analyst Dean Chen.
"The latest US inflation data has changed the short-term market narrative, but it has not fully resolved the debate over monetary policy direction," Chen wrote in a Wednesday report.
The firm stated that much of June's inflation slowdown was driven by falling energy prices rather than broad-based disinflation. Energy prices declined 5.7% during the month, while gasoline prices fell 9.7%, providing relief to headline inflation.
However, prices of shelter, food and core services continued to rise, suggesting that underlying inflationary pressure remains.
Bitunix also highlighted a shift in the Fed's communication strategy, arguing that policymakers are placing greater emphasis on incoming economic data rather than providing explicit forward guidance.
"Individual economic releases are likely to carry greater market significance," the report stated, adding that inflation, employment and growth figures are expected to become increasingly important catalysts for financial markets.
Despite the improving inflation outlook, Bitunix cautioned that several macroeconomic risks could continue driving volatility across crypto markets. The firm noted that escalating geopolitical tensions in the Middle East could push energy prices higher and reignite inflation, while renewed concerns over Japan's Yen carry trade could tighten global liquidity and weigh on risk assets.
The report added that Bitcoin's longer-term direction will depend on whether inflation continues to moderate. It also hinges on whether the Fed maintains its data-dependent policy approach and if global liquidity conditions remain supportive.
"Bitcoin sentiment has improved after the CPI release, but future price action will depend on Fed policy signals, inflation trends, and broader risk appetite," Chen stated.
Trump to meet with senators to discuss Clarity ActAdditionally, a report of President Donald Trump meeting with senators in the White House to discuss the Clarity Act is also improving market sentiment.
According to Politico, Sen. Bernie Moreno said senators will update the President concerning the bill’s progress and its “path to success.”
While lawmakers are pushing to pass the bill before the August recess, a few Democratic senators want an ethics provision included in the landmark crypto bill, especially after Trump disclosed earnings of over a billion dollars from crypto-related affiliations. The move will prevent senior government officials from having business interests in crypto platforms.
Bitcoin is trading at $65,020, up 0.6% over the past 24 hours at the time of writing.
SHA-256 is a cryptographic hash function developed by the NSA in 2001 that converts any input into a fixed 256-bit output, serving as the foundation of Bitcoin’s proof-of-work consensus mechanism. Bitcoin uses double SHA-256 hashing, applying the algorithm twice to each block header to mitigate potential vulnerabilities, including length extension attacks that could compromise single-pass implementations. As of 2026, the Bitcoin network processes approximately 800 exahashes per second, with each hash attempt representing a single double SHA-256 computation on an 80-byte block header. Brute-force collision attacks against SHA-256 would require calculating at least 2 to the power of 128 hashes, a process estimated to take over 17 billion years at current network speeds. SHA-256 operates as a one-way function, meaning outputs cannot be reverse-engineered to reveal original inputs, making blockchain transaction records tamper-proof once confirmed by the mining network. Every Bitcoin transaction, every mined block, and every wallet address depends on a single cryptographic function: SHA-256. Developed by the U.S. National Security Agency in 2001 as part of the SHA-2 family, this algorithm transforms any data input into a fixed 256-bit string of characters.
Satoshi Nakamoto chose SHA-256 as the core hashing algorithm for Bitcoin, embedding it into nearly every layer of the protocol, as detailed by the Spark SHA-256 reference. The same algorithm also secures services ranging from Amazon Web Services to the Apple App Store, according to CoinGecko’s security analysis.
This article explains how SHA-256 works, why it matters for Bitcoin’s security model, and what threats could challenge it.
How SHA-256 Works Inside Bitcoin Mining SHA-256 takes an input of any length and produces a fixed-size 256-bit (32-byte) output, represented as a 64-character hexadecimal string.
The algorithm is deterministic: the same input always produces the same output. Even a single-bit change in the input produces a completely different hash, a property known as the avalanche effect, as Spark’s documentation explains.
In Bitcoin mining, miners construct a block header containing the previous block hash, a Merkle root of transactions, a timestamp, a difficulty target, and a nonce. They compute the double SHA-256 of this 80-byte header, incrementing the nonce until the resulting hash falls below the current difficulty target.
A valid block hash must start with a specific number of leading zeros, as described in the Komodo Platform’s technical overview.
The double hashing is deliberate. Bitcoin applies SHA-256 twice to each input: the output of the first computation becomes the input for the second.
This additional layer mitigates potential vulnerabilities such as the length extension attack, which could allow an attacker to append data to a message and compute a valid hash without knowing the original content, according to the Nervos knowledge base.
SHA-256 and the Scale of Bitcoin’s Hash Rate As of 2026, Bitcoin miners compute approximately 800 exahashes per second (EH/s) across the global network, as Spark reported. Each of those 800 quintillion attempts per second is a single double SHA-256 operation on an 80-byte block header.
The scale is difficult to comprehend: 800 EH/s means the network performs more computations every second than there are grains of sand on Earth.
This computational power is driven by application-specific integrated circuits (ASICs) designed solely for SHA-256 hashing. ASICs replaced earlier GPU-based mining because general-purpose graphics processors could not compete with purpose-built chips, as Komodo Platform noted.
The transition to ASICs increased mining efficiency but also raised concerns about centralization within the mining industry. The 800 EH/s figure represents a roughly 33% increase from the approximately 600 EH/s peak recorded in early 2024, according to research published by arXiv.
This growth reflects continued ASIC deployment despite Bitcoin’s April 2024 halving, which cut block rewards from 6.25 BTC to 3.125 BTC. The willingness of miners to invest in additional hardware at reduced reward levels suggests strong long-term confidence in Bitcoin’s price trajectory.
Why SHA-256 Remains Secure Against Current Threats SHA-256 provides 128 bits of security against collision attacks. A collision occurs when two different inputs produce the same hash output. Finding such a collision by brute force would require calculating at least 2^128 hashes.
Even at Bitcoin’s current 800 EH/s rate, that process would take over 17 billion years, well beyond the estimated age of the universe, as the arXiv Tax Policy Handbook for Crypto Assets calculated.
SHA-256 uses 64 rounds of mathematical operations involving bitwise rotations, additions, and logical functions, according to CoinGecko’s analysis. The algorithm’s one-way property means outputs cannot be reverse-engineered to reveal original inputs.
No practical attack against SHA-256 has been demonstrated. The older SHA-1 algorithm was broken in 2017, but SHA-256’s significantly larger bit space makes it exponentially harder to compromise.
Quantum computing represents the most frequently discussed theoretical threat to SHA-256. A sufficiently powerful quantum computer using Grover’s algorithm could theoretically reduce the brute-force search space from 2^128 to 2^64 operations.
However, 2^64 operations remain astronomically large, and no quantum computer capable of this exists at a practical scale. CoinGecko’s researchers concluded that quantum machines would ultimately still be unable to feasibly crack SHA-256 with current and near-future technology.
Regulatory Implications SHA-256’s security properties directly affect how regulators evaluate Bitcoin’s viability as a reserve asset. The U.S. Strategic Bitcoin Reserve executive order in March 2025 cited Bitcoin’s track record of never having been hacked.
That claim rests on SHA-256’s integrity. If the algorithm were compromised, forfeited holdings in the reserve could be at risk, making hash function security a matter of federal policy.
What’s Next? The National Institute of Standards and Technology (NIST) has begun standardizing post-quantum cryptographic algorithms. Bitcoin developers are monitoring these developments, though any transition from SHA-256 would require a network-wide consensus upgrade.
For now, SHA-256 remains the industry gold standard for cryptographic hashing. Its 25-year track record without a practical attack continues to anchor Bitcoin’s security model.
FAQs What does SHA-256 stand for?
SHA-256 stands for Secure Hash Algorithm 256-bit, a cryptographic function developed by the U.S. National Security Agency in 2001 as part of the SHA-2 family of algorithms.
Why does Bitcoin use double SHA-256 instead of single hashing?
Bitcoin applies SHA-256 twice to block headers to mitigate length extension attacks, where an attacker could append data to a message and compute valid hashes without knowing the original content.
How fast is the Bitcoin network at computing SHA-256 hashes?
As of 2026, the Bitcoin network computes approximately 800 exahashes per second, with each attempt representing a double SHA-256 operation performed by specialized ASIC mining hardware worldwide.
Can SHA-256 be reversed to find the original input data?
No, SHA-256 is a one-way function designed so that outputs cannot be reverse-engineered to reveal original inputs, making it computationally infeasible to derive data from hashes alone.
Has SHA-256 ever been hacked or broken?
No practical attack against SHA-256 has been demonstrated since its publication in 2001, though the older SHA-1 algorithm was successfully broken through collision attacks in 2017.
What is a collision attack against a hash function?
A collision attack finds two different inputs that produce the same hash output, but doing so against SHA-256 requires computing at least 2^128 hashes, which would take billions of years.
Could quantum computers break SHA-256 in the future?
Quantum computers using Grover’s algorithm could theoretically reduce SHA-256’s search space, but the remaining computational requirements would still be astronomically large and currently remain infeasible.
Bitcoin ATMs have become an increasingly visible target for regulators concerned about cryptocurrency-related fraud, with several states moving to restrict or ban the machines outright. But the companies operating those networks argue policymakers are focusing on the wrong part of the financial system.
For Paul Tarantino, CEO of Byte Federal, the debate extends far beyond cryptocurrency speculation. He sees Bitcoin ATMs as financial infrastructure serving millions of Americans who remain outside—or only partially connected to—the traditional banking system.
"Bitcoin ATMs are a physical cash on-ramp into the digital financial system," Tarantino said in an interview. "Infrastructure matters enormously when you're trying to serve the millions of Americans who are unbanked or underbanked."
Byte Federal operates one of the nation's largest Bitcoin ATM networks, with more than 1,400 locations across the U.S. and Australia. The kiosks allow consumers to convert cash into Bitcoin and other digital assets after completing identity verification and compliance screening.
A Different Customer Than Many AssumeWhile cryptocurrency often carries an image of sophisticated traders and speculative investors, Tarantino says Byte Federal's typical customer looks very different.
According to company transaction data, many users are working-class consumers, small-business owners and first-time cryptocurrency buyers who prefer using cash or have limited access to conventional banking services. Byte Federal says its median transaction is approximately $300 and that most purchases are relatively modest.
The company also reports that customer activity spikes on Fridays—when many workers receive paychecks—and that significant transaction volume occurs overnight and on weekends when banks are closed.
Those patterns, Tarantino argues, suggest Bitcoin ATMs serve a practical function rather than simply facilitating speculative trading.
"Our customers look a lot more like Main Street than Wall Street," he said.
The Inclusion DebateThe industry has long argued that cryptocurrency can improve financial inclusion by giving consumers without traditional banking relationships access to digital financial services.
Bitcoin ATM operators say physical kiosks remove several barriers associated with online exchanges, including linking bank accounts, navigating trading platforms or maintaining constant internet access.
Byte Federal says customers still undergo identity verification, sanctions screening, Know Your Customer (KYC) checks and anti-money laundering compliance before completing transactions.
Tarantino contends that the physical presence of a kiosk also creates trust among consumers unfamiliar with digital finance.
"People see the machine, receive a receipt and interact with a regulated company," he said. "That physicality matters for many first-time users."
Growing Regulatory ScrutinyDespite those arguments, Bitcoin ATMs have increasingly drawn attention from lawmakers and consumer advocates after numerous scams directed victims to deposit cash into cryptocurrency through kiosk networks.
Several states have enacted restrictions or outright bans, citing fraud concerns and the growing number of reported losses involving cryptocurrency payments.
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Tarantino argues regulators are incorrectly treating Bitcoin ATMs as the origin of fraud rather than the final step in much larger scams.
"The scam typically begins with a phone call," he said, pointing to telecom-based impersonation schemes that convince victims to move money before directing them to various payment methods, including cryptocurrency.
According to Tarantino, removing Bitcoin ATMs does little to eliminate fraud because criminals simply redirect victims toward alternative payment channels such as wire transfers, gift cards or cash-by-mail schemes.
"The scammer doesn't disappear," he said. "The payment method changes."
Compliance Becoming a Competitive AdvantageThe regulatory debate has also accelerated investment in compliance infrastructure among larger operators.
Byte Federal says every customer completes identity verification before using its machines. The company also employs transaction monitoring, blockchain analytics and additional protections for older users, including live phone calls with customers over age 60 before certain transactions are approved.
According to Byte Federal's chief compliance officer, those interventions prevent a substantial share of suspected elder fraud attempts before transactions are completed.
The company says it supports industry-wide standards including stronger KYC requirements, mandatory scam warnings and expanded cooperation with law enforcement.
From Tarantino's perspective, compliance is becoming one of the industry's primary competitive differentiators.
"As regulation matures, the companies that invested early in compliance will have a significant advantage," he said. "What some operators see as a cost, we see as a moat."
Beyond Bitcoin KiosksEven as mobile cryptocurrency apps and stablecoins become more common, Tarantino believes physical infrastructure will continue to play a role in digital finance.
Rather than viewing Bitcoin ATMs as standalone machines, he sees them evolving into broader financial service hubs capable of supporting remittances, bill payments, digital wallets and other blockchain-enabled services.
Byte Federal has already expanded beyond ATMs through products including ByteWallet, a self-custodied digital wallet, and ByteConnect, a merchant payments platform that enables businesses to accept Bitcoin.
"The ATM is not the destination," Tarantino said. "It's the entry point."
Whether regulators ultimately embrace that vision remains uncertain. What is clear is that the debate surrounding Bitcoin ATMs has become increasingly representative of the broader tension between expanding access to digital financial services and protecting consumers from rapidly evolving forms of fraud.
As lawmakers continue weighing restrictions, the industry's future may depend less on cryptocurrency itself than on whether operators can demonstrate that physical access, financial inclusion and rigorous compliance can successfully coexist.
Researchers at Stanford University and Singapore Management University found that Polymarket’s five-minute Bitcoin prediction markets create incentives for traders to manipulate spot prices around settlement, allowing sophisticated participants to profit at the expense of retail traders.
The study examined contracts in which traders bet on whether Bitcoin’s price would end above or below a predetermined level after five minutes. Because the contracts settle using Chainlink price feeds based on Bitcoin’s price at the end of each trading window, traders have an incentive to influence the spot market immediately before settlement.
Analyzing trading activity before and after Polymarket introduced the contracts in July 2024, the researchers found sharp increases in Bitcoin spot-market order flow just before settlement, followed by rapid price reversals, which were consistent with settlement-price manipulation.
The study estimated that the behavior transferred about $1.28 million from ordinary traders to manipulators during the sample period. The researchers said extending contract durations from five minutes to 15 minutes largely eliminated the effect.
The researchers said the results do not indicate prediction markets are inherently vulnerable to manipulation, arguing instead that settlement design can reduce the risk. They pointed to longer settlement windows and alternative pricing methods, such as time-weighted average prices, as potential solutions.
The findings could extend beyond crypto. The paper notes that traditional exchanges, including Nasdaq and Cboe, have proposed event contracts tied to asset prices, making contract design an increasingly important consideration as prediction markets expand into regulated financial markets.
World Cup fuels prediction market growthPrediction markets posted record trading volumes in June as the expanded 2026 FIFA World Cup fueled activity across the sector. According to DefiLlama data, Kalshi processed about $9.4 billion in trading volume during the month, while Polymarket International handled roughly $4.3 billion.
The platforms’ World Cup winner markets have since generated more than $5.4 billion in combined trading volume, with Polymarket processing about $4.25 billion and Kalshi about $1.2 billion, according to data from the two platforms at the time of writing.
World Cup winner bets on Polymarket. Source: Polymarket
The sector’s growth has coincided with mounting legal scrutiny. Several US states have challenged companies, including Kalshi and Polymarket, this year, while the Commodity Futures Trading Commission has argued that federally regulated event contracts fall under its “exclusive jurisdiction” rather than state gambling laws.
The dispute is now moving through the federal courts, and legal observers have said conflicting appellate rulings could eventually prompt the US Supreme Court to decide whether states or the CFTC have primary authority over prediction markets.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Researchers at Stanford University and Singapore Management University found that Polymarket’s five-minute Bitcoin prediction markets create incentives for traders to manipulate spot prices around settlement, allowing sophisticated participants to profit at the expense of retail traders.
The study examined contracts in which traders bet on whether Bitcoin’s price would end above or below a predetermined level after five minutes. Because the contracts settle using Chainlink price feeds based on Bitcoin’s price at the end of each trading window, traders have an incentive to influence the spot market immediately before settlement.
Analyzing trading activity before and after Polymarket introduced the contracts in July 2024, the researchers found sharp increases in Bitcoin spot-market order flow just before settlement, followed by rapid price reversals, which were consistent with settlement-price manipulation.
The study estimated that the behavior transferred about $1.28 million from ordinary traders to manipulators during the sample period. The researchers said extending contract durations from five minutes to 15 minutes largely eliminated the effect.
The researchers said the results do not indicate prediction markets are inherently vulnerable to manipulation, arguing instead that settlement design can reduce the risk. They pointed to longer settlement windows and alternative pricing methods, such as time-weighted average prices, as potential solutions.
The findings could extend beyond crypto. The paper notes that traditional exchanges, including Nasdaq and Cboe, have proposed event contracts tied to asset prices, making contract design an increasingly important consideration as prediction markets expand into regulated financial markets.
World Cup fuels prediction market growthPrediction markets posted record trading volumes in June as the expanded 2026 FIFA World Cup fueled activity across the sector. According to DefiLlama data, Kalshi processed about $9.4 billion in trading volume during the month, while Polymarket International handled roughly $4.3 billion.
The platforms’ World Cup winner markets have since generated more than $5.4 billion in combined trading volume, with Polymarket processing about $4.25 billion and Kalshi about $1.2 billion, according to data from the two platforms at the time of writing.
World Cup winner bets on Polymarket. Source: Polymarket
The sector’s growth has coincided with mounting legal scrutiny. Several US states have challenged companies, including Kalshi and Polymarket, this year, while the Commodity Futures Trading Commission has argued that federally regulated event contracts fall under its “exclusive jurisdiction” rather than state gambling laws.
The dispute is now moving through the federal courts, and legal observers have said conflicting appellate rulings could eventually prompt the US Supreme Court to decide whether states or the CFTC have primary authority over prediction markets.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoin is having another one of its family arguments, and this time it’s about what kind of data belongs on the blockchain. BIP-110, a proposed soft fork that would restrict non-financial data in Bitcoin transactions, is heading toward its mandatory signaling phase in early August with almost no miner backing and a community split that echoes the nastiest governance fight in Bitcoin’s history.
Miner support for BIP-110 has hovered between 0.3% and 0.4% since signaling began on December 1, 2025. To put that in context, the proposal needs 55% miner support for early lock-in. It’s not even in the same zip code.
What BIP-110 actually does Authored by developer Dathon Ohm, BIP-110 would constrain the storage of non-monetary data on Bitcoin’s blockchain for roughly one year. The proposal would grandfather existing data already on-chain. It’s not trying to erase history, just change the rules going forward, at least for about 12 months.
Opponents see it very differently. Blockstream CEO Adam Back and MicroStrategy founder Michael Saylor have both pushed back against BIP-110, viewing it as a dangerous consensus intervention. Their argument boils down to a philosophical point: Bitcoin’s strength comes from its resistance to top-down rule changes, and restricting what kinds of transactions are “allowed” sets a precedent that could be weaponized later.
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The activation timeline and why it matters BIP-110 signaling on bit 4 has been live since December 2025, but the proposal is now approaching the stages where things get real. Mandatory signaling is projected to begin around block 961,632, estimated to land between August 7 and August 15, 2026. If the proposal somehow clears that hurdle, enforcement could follow near block 965,664 in September 2026.
The activation strategy borrows from the UASF playbook, the same user-activated soft fork approach that played a pivotal role during the 2017 Blocksize Wars. Back then, a minority of nodes threatened to reject blocks that didn’t signal for SegWit, effectively forcing miners to comply or risk mining on a minority chain.
Node adoption sits in the low single digits, concentrated almost entirely among users running Bitcoin Knots rather than the far more popular Bitcoin Core client. On the mining side, no major pool has shown meaningful interest. F2Pool, one of the largest mining operations in the world, has given no indication of support. The only visible signals have come from small operators like Barefoot Mining, which barely registers as a rounding error in Bitcoin’s total hashrate.
Echoes of the Blocksize Wars The Blocksize Wars of 2015-2017 pitted those who wanted bigger blocks against those who preferred a more conservative approach to scaling. That conflict ultimately led to the Bitcoin Cash fork and established an informal precedent: changing Bitcoin’s consensus rules requires overwhelming agreement, and attempts to force changes through without it get rejected.
BIP-110 is testing whether that precedent holds in reverse. Instead of expanding what Bitcoin can do, it’s trying to restrict it. And it’s doing so through the same UASF mechanism that small-block advocates used successfully almost a decade ago, just with a fraction of the support.
What this means for investors BIP-110 is almost certainly going to fail on the primary Bitcoin chain. Sub-1% miner signaling seven months into the process, with mandatory activation weeks away, means the proposal has no realistic path to consensus-level adoption. The most likely outcome is that BIP-110 either fizzles out entirely or results in a tiny minority chain that attracts negligible economic activity.
Investors should watch for two things. First, whether any major mining pool breaks ranks and signals for BIP-110 before the August deadline, which would fundamentally change the calculus. Second, whether the debate spills over into broader market sentiment around Bitcoin’s governance model.
The inscription economy that BIP-110 targets, including Ordinals and BRC-20 tokens, has become a meaningful source of miner fee revenue. Restricting that activity would reduce transaction fee income for miners, which helps explain why pools aren’t exactly rushing to support a proposal that would shrink their revenue.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cover image via youtu.be 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.
BlackRock CEO Larry Fink says he is no longer concerned about excessive leverage in the Bitcoin market.
Earlier this Wednesday, he told CNBC that the cryptocurrency has become considerably more stable after speculative positions ended up being washed out.
Fink stated that he "was always worried about the leverage in Bitcoin and crypto."
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According to the BlackRock chief, that dynamic has largely changed. "That's why we had to wash out," he added. "And I think there's more stability at these levels here."
AI driving profitability Much of the interview focused on artificial intelligence rather than cryptocurrencies. Fink argued that demand for computing infrastructure continues to outpace supply and that the United States risks falling behind.
Fink expressed strong optimism about financial markets over the coming year. He has argued that advances in artificial intelligence will continue driving corporate profitability. "I'm very bullish on the markets over the next 12 months," he said.
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Fink attributed that optimism to rapid technological innovation. "I think the technological revolution is going to power better margins for more companies."
He pointed to BlackRock itself as an example of how AI is already improving efficiency. "We've raised our margins... by 260 basis points over the last 12 months. A lot of it is using more and more technology."
Later in the interview, Fink explained how artificial intelligence is transforming the firm's internal operations. "We're able to use technology to process more trades, to process more activities," he said.
Fink's Bitcoin transformationFor years, the BlackRock CEO was openly skeptical of cryptocurrencies. In 2017, he described Bitcoin as an "index of money laundering." He then changed his tune in 2023. Back then, BlackRock filed for what would become the industry's largest spot Bitcoin exchange-traded fund. Around that time, Fink described Bitcoin as an "international asset" that could serve as a hedge against currency debasement. He has then argued that Bitcoin is "digital gold" and a portfolio diversifier.
Cryptocurrency analytics company Glassnode stated that the long-running bottom-forming process in the Bitcoin market is beginning to strengthen, but a sustained recovery requires the activation of spot market demand.
According to Glassnode’s analysis, Bitcoin reacted more strongly than major stock indices to the better-than-expected US inflation data released last week. The company noted that this was one of the strongest price reactions Bitcoin has given to positive macroeconomic developments in recent weeks.
The analytics company noted that the relationship between Bitcoin and stock markets has weakened, while the inverse correlation with the US dollar has strengthened. According to Glassnode, this indicates that global liquidity conditions, rather than risk appetite, are becoming the determining factor in Bitcoin’s price.
The report stated that long-term investor capitulation, a major source of selling pressure on Bitcoin throughout the year, has begun to decline from its peak. It also noted that profit-taking has largely dried up, and the supply from the June lows has been met by broad-based buying.
Glassnode noted that the ready-to-sell supply, which has previously limited every rise in Bitcoin, has begun to thin. This development, it was stated, allows the price to retest the resistance zones ahead.
According to Glassnode, Bitcoin’s biggest resistance will be the Short-Term Investor Cost Base, which is around $69,000. This level represents the average break-even price for investors who have recently entered the market.
The company stated that a strong market reaction could be seen if Bitcoin reaches the $69,000 region. For the price to rise above this level with the support of spot buying and maintain its position there is critical to confirming the recovery.
The analysis highlighted that investors in derivatives markets have begun reducing their short positions, but this move has not yet been supported by buying in the spot market. Glassnode stated that the missing piece in the current recovery outlook is strong and sustainable spot demand.
Glassnode warned that despite positive signals, a bullish move in Bitcoin has not yet been definitively confirmed. Key risks cited include continued outflows from spot Bitcoin ETFs, the failure of derivatives market position unwinding to translate into spot purchases, and volatility remaining at low levels.
According to the company, the key signal that will positively change the current market outlook is when spot market purchases push Bitcoin above the short-term investor cost basis and the price holds above that level.
Conversely, a renewed acceleration of loss-making sales by long-term investors, or a rejection of Bitcoin from the resistance around $69,000 and a retracement towards the current price level, could drag the market back into its current horizontal trading range.
Glassnode stated that while a price base has largely formed in Bitcoin, the buying momentum needed to sustain the uptrend has not yet emerged, commenting, “The base has formed, but the continuation of the movement has not yet arrived.”
*This is not investment advice.
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Bitcoin has underperformed compared to other “risk-on” assets this year — and if history’s anything to go by, its price could dip as low as $38,000 by October.
That’s according to a new report by NYDIG, which reveals that the asset’s current slump is down to supply mechanics rather than risk sentiment.
Bitcoin’s price has in the past moved with tech stocks but 2026 has been different: AI-related equities have soared while crypto markets have slumped. Bitcoin was recently priced at $64,809, down nearly 30% year-to-date and close to 50% less than its October all-time high of $126,080.
“Bitcoin’s 2025–2026 drawdown is bringing the 4-year cycle narrative back into focus, because the timing and structure increasingly resemble the prior reset years of 2014, 2018, and 2022 even though the path has not matched those drawdowns exactly,” the report read.
NYDIG revealed that Bitcoin’s year-to-date performance makes it the worst-performing asset — losing out against US treasuries, silver, and currencies like the Swiss Franc.
It added that if Bitcoin’s price action were to match other drawdowns — like the bear market of 2022 — a “potential cycle low near $38k-$39k” was possible.
The good news: Bitcoin had its least volatile year ever in 2025, and some analysts opining that this year’s drawdown may be shallower than in previous bear markets.
Is Bitcoin digital gold? NYDIG added that Bitcoin’s rolling correlation with gold increased during 2026’s second quarter, with both assets experiencing sell-offs.
Bitcoin has been correlated to the precious metal in the past and Bitcoiners have described the top digital coin as “digital gold.”
But the asset last year was more correlated with US equities — especially tech stocks.
NYDIG added that other commodities experienced sell-offs in the second quarter of 2026, with the so-called debasement trade losing momentum. Traders in 2025 spoke of the “debasement trade” as a hot move to hedge against the dollar — and other fiat currencies — losing value.
Bitwise said in a report last week that while Bitcoin closed Q2 2026 in its deepest and longest downturn since the last bear market, the fundamentals are in place for a quick recovery, with regulators passing crypto-friendly legislation.
NYDIG added that the passing of the market-structure CLARITY Act “is the most important forward catalyst for the digital asset industry.”
“For Bitcoin, CLARITY’s direct price impact is less significant than for altcoins and crypto equities, but the investment implication remains material because a clearer U.S. market-structure regime would benefit the entire industry,” it noted.
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.
In a recent statement, Strategy Inc. CEO Phong Le reaffirmed the company’s dedication to remaining a major Bitcoin purchaser despite existing debt concerns. Le highlighted that the company would only start evaluating risks associated with its debt if Bitcoin’s value fell to a range of $8,000 to $10,000. This statement underscores Strategy’s confidence in its financial stability and its commitment to its Bitcoin strategy. As the world’s largest corporate Bitcoin holder, Strategy Inc. currently holds 843,738 Bitcoin, valued at approximately $69,000 per coin. The company’s robust balance sheet appears to reassure market participants, even as the firm navigates significant debt obligations.
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Key Takeaways Strategy’s CEO Phong Le’s statement appears to reinforce the company’s ongoing commitment to Bitcoin purchases, with a focus on financial resilience. The company’s current financial position suggests it could cover its $6 billion debt even if Bitcoin prices dropped significantly. Market pricing implies a stable outlook for Strategy’s Bitcoin strategy, with no immediate debt-related concerns unless Bitcoin drops sharply. What to Watch Market participants will be closely observing any fluctuations in Bitcoin prices, specifically any movement toward the $8,000 to $10,000 range, as this could impact Strategy’s financial strategy. Additionally, any announcements from Strategy regarding further Bitcoin acquisitions or changes in financial strategy could influence market sentiment. The company’s financial health and Bitcoin strategy remain pivotal indicators for the future trajectory of its stock price, particularly as the December 31 deadline for STRC hitting $100 approaches.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 46% — — View market → September 30 24.5% — — View market →
Litecoin experienced a renewed price uptick following the announcement of a significant institutional custody development. The value of LTC climbed 2.39% over the last 24 hours, reaching $44.61 and maintaining its position above an important support level at $42.62, while approaching a resistance range between $44.61 and $46.00.
Technical rebound faces resistanceAfter recording a peak near $61 in May, Litecoin’s price fell sharply through June, briefly touching lows around $38. Recently, buyers have re-entered the market, pushing the price back to current levels.
The daily chart reflects a period of exhaustion and stabilization. Indicators such as the MACD show the main line at -0.15, the signal line at -0.35, and the histogram at 0.20. The shift from negative to mild positive histogram values hints at easing bearish conditions, yet the trend has not fully turned bullish.
A close above the $44.61–$46.00 resistance zone could reinforce the recovery trend. Conversely, any drop below $42.62 risks another test of June’s lows.
Momentum indicators demonstrate a cautiously optimistic tone, but the technical landscape is still searching for a convincing bullish signal, with continued recovery in progress according to MACD readings.
Clearstream integrates Litecoin custodyLite Strategy disclosed that Clearstream, one of two international central securities depositories and a subsidiary of Deutsche Börse, has incorporated Litecoin into its regulated custody service for institutional clients. Clearstream oversees more than €15 trillion in assets, providing post-trade settlement for global securities markets.
LTC is now settled through CryptoFinance AG, a MiCAR-licensed sub-custodian. This arrangement enables financial institutions to hold Litecoin with their current banking relationships, removing the need for a separate crypto-specific counterparty.
While the announcement quickly drew attention with over 1,900 views within a few hours, market participants view the custody upgrade as a medium-term catalyst rather than a reason for immediate price action.
This move expands institutional access to LTC, offering new infrastructure for regulated digital asset custody rather than serving as a trigger for a single-day rally.
Mini dictionary: Clearstream is one of two global central securities depositories, providing post-trade settlement services for institutional assets and part of the Deutsche Börse Group.
Clearstream’s integration of LTC into its custody platform is regarded as a structural improvement for institutional involvement, although it may not immediately reflect in the price.
Market positioning and network activityOpen interest in Litecoin futures dropped from about $320 million to $100 million in early June, mirroring the price decline. Since then, traders have gradually returned, with open interest now back in the $270 million to $300 million range.
DefiLlama reports that Litecoin’s total value locked (TVL) fell from $3 million to approximately $1.2–$1.5 million by July. Despite this, the number of active addresses has remained stable, fluctuating between 250,000 and 300,000 over the same period.
MetricMay PeakJune LowCurrentLitecoin Price$61$38$44.61Open Interest$320 million$100 million$270–$300 millionTVL$3 million$1.2 million$1.2–$1.5 millionActive Addresses~300,000~250,000250,000–300,000The technical and on-chain data show a market in the process of recovery, but without confirmation of a consistent trend reversal. The evolving custody framework and open interest figures provide reasons for cautious optimism, though market direction remains undecided pending further institutional activity or technical confirmation.
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.
While regulatory efforts targeting Bitcoin and altcoins continue worldwide, particularly in the US, the latest news comes from Japan.
According to Reuters, Japan has passed a major regulatory amendment that will fundamentally change the cryptocurrency market. The House of Councillors, the upper house of the country’s parliament, today approved a legislative amendment that officially classifies crypto assets as financial products for the first time.
With this step, Bitcoin, Ethereum, XRP, and other cryptocurrencies will now be regulated as “financial products” in the country and will have the same status as stocks and other financial products.
The change also introduces a tax of approximately 20% on cryptocurrency earnings. This change in taxation appears to be more advantageous than the old system, as in Japan, individual cryptocurrency earnings were sometimes included in income tax and fell into a much higher tax bracket.
According to reports, the tax reform is planned to be implemented as of January 1, 2028, following the regulations that will come into effect in the 2027 fiscal year.
The new law also paves the way for spot cryptocurrency ETFs in Japan. In this context, regulators reportedly aim to begin trading cryptocurrencies on the Tokyo Stock Exchange by 2027 or 2028. Indeed, major firms like Nomura Holdings and SBI Holdings have already begun preparations for cryptocurrency ETFs.
“The new regulation introduces several rules to cryptocurrencies that already apply in traditional financial markets. These include:
Insider trading prohibited: Transactions involving the use of confidential information will be strictly prohibited. Disclosure Obligation: Cryptocurrency issuers will be required to submit regular annual disclosures. Severe Penalties: Penalties for unregistered cryptocurrency exchanges have also been significantly increased. Those who fail to register may face imprisonment of 3 to 10 years or fines ranging from 3 million yen to 10 million Japanese yen. Individual investment limit: The individual investment limit for high-risk tokens will be 2 million Japanese yen. *This is not investment advice.
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XRP is approaching a significant technical juncture as a classic bullish pattern takes shape on its chart. Market watcher Crypto With Gopal reported that XRP currently displays a falling wedge formation, a setup known in financial analysis for predicting potential trend reversals or the continuation of a bullish momentum after prolonged corrections.
Technical trends hint at bullish reversalThe falling wedge pattern on XRP’s chart reveals a gradual narrowing between its highs and lows, suggesting that bearish momentum is tapering off. Each recent drop has lost intensity, with buyers stepping in to defend critical price levels. This activity suggests that bullish investors are increasingly influential, even as the price has recorded a series of lower highs and lower lows.
A decisive breakout above the upper boundary of the wedge, especially if supported by a surge in trading volume, could signal the beginning of a fresh upward move for XRP. Historically, confirmation of a falling wedge has often led to extended price rallies, making this a widely monitored scenario among traders and technical analysts.
At present, data from CoinCodex shows XRP trading at $1.12. This places the token at a critical level, where a clear breakout or rejection from the wedge could define its short-term direction.
XRP’s consolidation around the wedge’s boundary is backed by steady demand, with key support levels repeatedly holding as buyers increase positions.
On-chain signals support strengthening fundamentalsBeyond technical indicators, on-chain data appears to bolster the argument for renewed bullish momentum in XRP. There has been a clear shift of XRP tokens from exchanges to self-custody wallets, indicating that holders are less likely to sell in the near term. This move reduces the readily available supply on the market and may reflect a growing belief in XRP’s long-term prospects among its investor base.
Mini dictionary: Self-custody wallets, digital wallets controlled directly by the asset holder rather than an exchange, allowing users full ownership and responsibility for their cryptocurrency.
According to on-chain analytics provider XRP Update, XRP’s market dominance—a metric showing its share of total cryptocurrency market value—remains within a falling channel after advancing from multi-year lows. Should dominance regain upward traction and break above this channel, it would indicate a renewed flow of capital into XRP versus other assets. Prior occurrences of rising XRP dominance have historically corresponded with strong asset outperformance.
MetricCurrent StatusHistorical SignalFalling wedge patternActive, near resistance breakoutOften precedes upward ralliesExchange balancesDecreasingIndicates holder convictionMarket dominanceRising in falling channelCorrelates with past outperformanceInstitutional recognition and outlookInstitutional sentiment toward XRP is also showing signs of improvement. Forbes, a leading global business publication, recently included XRP in its list of top four cryptocurrencies to watch, alongside Bitcoin, Ethereum, and BNB. The ranking places particular emphasis on XRP’s increasing adoption, tokenization efforts, and advancements in real-world blockchain solutions.
With technical and on-chain indicators converging, and large holders opting for self-custody, XRP enters a crucial phase. Should buyers succeed in breaking through the wedge resistance with convincing volume, analysts see the potential for renewed expansion in the asset’s market value.
Several factors are now aligning for XRP: a bullish chart structure, declining exchange supply, rising dominance, and heightened institutional attention, all contributing to what could be a pivotal stretch for the asset.
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’s intellectual property and its impact on the development of cross-border payments have drawn renewed attention following recent documents shared by the crypto researcher SMQKE on X (formerly Twitter). According to SMQKE, these documents reinforce Ripple’s legal protections over its blockchain technology and its competitive position in international payments.
Patents and Technology in the SpotlightSMQKE’s post emphasized that Ripple’s patented innovations prevent direct replication of the XRP Ledger (XRPL) by other financial institutions. The researcher suggested that any organization with ambitions to match XRPL’s performance would need to rely on integration with Ripple’s technology instead of developing a parallel system.
Ripple’s technology is patented, so SWIFT cannot directly copy the XRP Ledger. Ripple’s patents prevent competitors from using similar blockchain networks without formal permission, making integration rather than imitation the practical option for institutions seeking comparable capabilities.
Ripple, a San Francisco-based fintech company, is known for its blockchain-based payment network designed to facilitate fast, low-cost, cross-border money transfers. The XRP Ledger (XRPL) serves as the company’s decentralized blockchain network, enabling transactions and supporting a native digital asset, XRP.
The researcher argued that the patented aspects of Ripple’s system leave SWIFT, the prominent financial messaging network, with limited alternatives in seeking efficient blockchain solutions for payment processing.
Mini dictionary: SWIFT — The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the leading global provider of secure messaging services and infrastructure that connects more than 11,000 financial institutions for cross-border payments and transaction communications.
FeatureRipple/XRP LedgerSWIFTPayment SpeedSeconds1–4 daysSystem TypeBlockchain-basedMessaging networkPatent ProtectionPatented technologyNo blockchain patentsIntegration PotentialOpen API, integration optionCan be integrated with blockchainsDocuments Presented to Support the ClaimTo substantiate his claims, SMQKE shared excerpts from what appears to be an academic analysis detailing the unique aspects of Ripple’s payment system patents. One section referred to RippleNet as a patented, blockchain-driven payments infrastructure that enables banks and financial institutions to process international transactions faster and at lower cost. The cited document asserted that these patents grant Ripple exclusive authority, restricting competitors from using similar technology without authorization.
Another segment referenced by SMQKE described the potential for messaging standards, including SWIFT, to be integrated with Ripple’s infrastructure, provided that appropriate legal and regulatory frameworks apply. This reinforced the suggestion that integration, not duplication, would be the feasible route for institutions aiming to access Ripple’s capabilities.
Academic references cited by SMQKE note that Ripple’s exclusive patent rights protect its blockchain payment technologies from unlicensed adoption, supporting the argument that industry participants must work with—rather than replicate—Ripple’s platforms to achieve similar outcomes.
Community Debates Patent Impact and Open Source ElementsSMQKE’s assertions prompted varying responses from X users, reflecting differing interpretations of Ripple’s intellectual property and the future role of the XRP Ledger in global payments. A commenter known as LORD argued that decisions about infrastructure adoption rest with individual banks, not SWIFT, and that the future financial landscape will emphasize interoperability, allowing multiple blockchains to connect via common standards.
Another contributor, Ledger Legend, pointed out that while Ripple has patents covering specific technologies, the XRP Ledger itself is open source. This means that developers and competing networks can build systems with similar features, though proprietary implementations developed by Ripple may remain protected under its patents. He noted that such open-source elements could limit the direct impact of certain exclusive patent claims.
SMQKE maintained his position that the collected documents and references to potential SWIFT integration demonstrate Ripple’s distinct advantage in the evolving market for cross-border payments.
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.
Key HighlightsQualification Criteria Established for RLUSD ParticipantsBorrowed RLUSD Positions Face Modified CalculationsRLUSD Market Performance Declines Following Earlier Growth Phase Major exchange introduces $800,000 XRP incentive program targeting RLUSD holders Weekly XRP distributions available for users maintaining RLUSD balances and trading volume Four-week promotional initiative rewards RLUSD activity across multiple platform services Qualifying participants receive XRP tokens through weekly Friday distributions Exchange deploys significant reward pool to drive RLUSD stablecoin engagement The leading cryptocurrency exchange has rolled out a substantial XRP token distribution initiative worth $800,000 targeting qualified RLUSD holders using specific platform features. Running between July 17 and August 14, this promotional program allocates XRP rewards on a weekly basis every Friday. The exchange designed this campaign to stimulate RLUSD engagement while broadening user involvement across its Earn products, Margin trading, and Futures markets.
Qualification Criteria Established for RLUSD Participants Binance restricted eligibility to account holders maintaining RLUSD positions within approved Earn products, Margin accounts, or USDⓈ-M Futures portfolios. Participants need to preserve a minimum 0.01 RLUSD balance alongside achieving an average daily Margin or Futures transaction volume reaching $500. Trading activity across any available pair qualifies when RLUSD functions as account collateral.
The reward distribution mechanism evaluates each participant’s qualifying RLUSD holdings across every weekly period. The platform tracks the minimum hourly balance registered daily to establish each day’s qualifying amount. Weekly reward calculations then utilize a seven-day average balance combined with the current effective annual percentage rate.
All distributed rewards flow directly into eligible participants’ Spot wallets linked to their primary accounts. The exchange completes these transfers by 18:00 UTC each Friday throughout the campaign duration. Participants can monitor their received payments through the platform’s transaction history interface.
Borrowed RLUSD Positions Face Modified Calculations The exchange applies distinct calculation methods for RLUSD positions created by borrowing alternative stablecoins within Margin portfolios. Borrowed RLUSD amounts receive a 60% reduction after subtracting existing debt obligations. This methodology encompasses borrowing transactions involving USDT, USDC, U, USD1 and FDUSD.
Reward calculations distinguish between native RLUSD holdings and leveraged positions derived from borrowed stablecoin conversions. Participants holding exclusively borrowed RLUSD without baseline qualifying balances may become ineligible for distributions. However, users maintaining personal RLUSD combined with converted borrowed holdings remain eligible under modified calculations.
Binance verified that broker-linked accounts maintain reward eligibility without individual distribution caps. Nevertheless, the program excludes participants from certain jurisdictions due to applicable regulatory frameworks. Qualification ultimately depends on both account engagement patterns and geographic compliance standards.
RLUSD Market Performance Declines Following Earlier Growth Phase This reward program launches amid reduced RLUSD market momentum after experiencing robust expansion earlier this year. Ripple’s USD-pegged stablecoin maintained approximately $1.51 billion in market capitalization at press time following a decline exceeding 10% across recent weeks. Daily transaction volume similarly decreased by around 6% throughout this timeframe.
During June, RLUSD achieved market capitalization surpassing $1.81 billion while facilitating continuous settlement operations on the XRP Ledger through Mastercard integration. Market enthusiasm subsequently diminished following postponements affecting United States cryptocurrency regulatory proposals. Reduced optimism regarding the CLARITY Act further dampened overall market sentiment.
The exchange initiated this campaign as RLUSD progressively strengthens its position across trading operations and collateral applications. These weekly XRP allocations provide additional motivation for users sustaining qualifying RLUSD positions during the promotional timeframe. The program effectively merges stablecoin utilization with systematic digital asset incentives while adhering to established participation criteria.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
An analyst tracking XRP says the token could eventually push past $9, though he’s careful to frame that as a long-term possibility rather than a near-term prediction, pointing instead to a growing list of fundamental developments that he argues have yet to be reflected in price.
Price Action Right Now
XRP is trading just under $1.10, attempting a relief bounce off a June 6 low. The analyst is watching for a daily close above $1.16, and eventually $1.24, as signs the bounce has real strength behind it.
He was clear that he isn’t expecting a rapid move to $2, describing the current setup as similar to previous short-lived relief rallies rather than a confirmed reversal.
The Main Argument: Price Lags News
The analyst’s central point is that positive fundamental developments tend to build for extended periods before price catches up, using 2022 to 2024 as a reference point when XRP saw a run of over 1,000% following a long stretch where fundamentals were improving while price stayed flat.
Recent Data Points Cited
Several data points were raised as evidence of ongoing adoption:
Forbes ranked XRP fourth among cryptocurrencies, placing it above Solana, Cardano, Chainlink, Dogecoin, Avalanche, and Hyperliquid, with only Bitcoin, Ethereum, and BNB ranked higher. Forbes attributed the ranking to XRP’s use in real-world payments, global finance, and institutional adoption rather than speculative trading alone.More than $1.3 billion has flowed into XRP ETFs since launch, according to figures cited in the video.BlackRock, Goldman Sachs, JPMorgan, and Morgan Stanley are among 54 firms, including Coinbase, Ripple, and Circle, that have joined a UK government tokenization task force focused on live use cases starting with tokenized repo transactions.XRP Ledger’s tokenized asset value has grown from roughly $150 million to more than $4 billion over the past year, with more than 500 tokenized products now live on the network.The XRP Ledger led all major blockchains in real-world asset inflows over the past 90 days, at $1.9 billion, ahead of Ethereum, Stellar, BNB Chain, and Solana over that same window.Stablecoin market cap on the XRP Ledger rose more than 13% over the past 30 days to roughly $1.02 billion.The Bigger Picture, According to the Analyst
He pointed to the total crypto market cap, currently around $2.21 trillion, as evidence of how far the industry has grown since 2020, when the market cap fell below $500 billion and sentiment was broadly negative. The argument is that adoption metrics, rather than short-term price action, are what typically signal where a market is heading over a longer time horizon.
Story Ends Here
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Ripple (XRP) holds above support reclaimed at $1.10 at the time of writing on Wednesday, extending its rally after the US Producer Price Index (PPI) data for June showed that price pressures in the world’s largest economy are cooling. The report reinforced the trend seen in Tuesday’s Consumer Price Index (CPI) figures, fueling optimism across crypto markets.
Softer US PPI, CPI boost short-term outlookThe Bureau of Labor Statistics (BLS) CPI reported that inflation fell by 0.4% in June on a seasonally-adjusted basis, marking the sharpest monthly decrease since April 2020.
This pullback brought the annual headline inflation rate down to 3.5% from 4.2% in May. Core inflation, which excludes the more volatile food and energy prices, remained flat MoM, while the annual rate fell to 2.6% from 2.9% in May.
On Wednesday, additional US data showed that the Producer Price Index (PPI), a key gauge of future inflation pressures, rose at a lower pace than expected, easing market concerns over a persistent inflation wave and supporting risk assets.
Market sentiment improved slightly, with investors currently pricing in an 90% probability that the Federal Reserve (US) will leave interest rates unchanged in the 3.50%-3.75% range at its next review cycle on July 29.
FedWatch tool | Source: CME GroupAppetite for crypto assets increased only marginally as reflected in the Fear & Greed Index. The index is embedded in the Extreme Fear territory at 25 on Wednesday, up from 22 the day before. If risk-on sentiment steadily increases, demand for risk assets, including XRP, would grow, intensifying the tailwind and supporting recovery in the short to medium term.
Crypto Fear & Greed Index | Source: AlternativeXRP absorbs supply as Binance reserves stabilizeThe number of tokens held in Binance wallets has remained relatively stable in July, averaging 2.61 billion XRP, valued at $2.9 billion on Wednesday. According to CryptoQuant data, the reserve’s stability indicates no major surge in immediate sell-side pressure.
If the price rises while exchange reserves fall or stay relatively flat, it often supports the notion that the market is absorbing supply. Hence, an increase in demand could boost XRP’s bullish outlook, paving the way for an extended rebound above $1.10.
XRP Binance Exchange Reserves | Source: Crypto QuantPrice analysis: XRP range-bound despite mild increaseXRP trades above $1.10, retaining a bearish near-term bias as it remains below the 50-day, 100-day and 200-day Moving Average Exponentials (EMAs), which fan out as layered resistance at $1.16, $1.26 and $1.46 respectively.
The Moving Average Convergence Divergence (MACD) indicator edges in positive territory on the daily chart and the Relative Strength Index (RSI) hovers near 49, suggesting only modest, indecisive momentum within a broader capped structure defined by the prevailing downward resistance trendline.
XRP/USDT daily chartInitial resistance lies at the 50-day EMA around $1.16, with the 100-day EMA at $1.26 and the 200-day EMA near $1.46 reinforcing a wider bearish ceiling aligned with the descending trendline resistance overhead. Looking down, the first notable support emerges at the Parabolic SAR level near $1.04, and a clear break beneath this area would reopen scope for a deeper slide. Still, a recovery above the clustered moving average barriers would be needed to weaken the broader bearish bias.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Senator Cynthia Lummis announced on national television that new legislation offering clear federal guidelines for digital assets is set for introduction within days, signaling a pivotal development for both the cryptocurrency industry and holders of $XRP.
Main provisions of the CLARITY ActThe bill, known as the CLARITY Act, will establish a comprehensive regulatory framework for digital assets in the United States. It lays out clear lines of authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), mandates conduct and disclosure standards for digital asset intermediaries, and brings anti-fraud and anti-money-laundering rules into the growing crypto sector.
Consumer protection and law enforcement interests delayed the bill’s progress through the Senate. Senator Lummis stated that after ten months of daily negotiations, lawmakers have resolved the key sticking points. She emphasized the importance of satisfying both consumer protection and anti-illicit finance requirements:
Senator Lummis said that the bill now addresses law enforcement expectations for preventing illicit finance, while protecting consumers remains central to its mission. She stated, “We want to meet the needs of law enforcement with regard to preventing illicit finance and provide consumer protections. We think we’ve accomplished that goal with this bill.”
Prospects for passage and timelineIn May 2026, the Senate Banking Committee voted 15-9 to advance the act, with bipartisan support as two Democrats joined all Republicans on the committee. Since then, the bill has remained on the Senate legislative calendar, waiting for a 60-vote threshold to clear procedural hurdles. According to Senator Lummis, these obstacles have now been addressed.
The Senate will meet for four consecutive weeks leading up to the August recess, which Senator Lummis identified as the target window for legislative action. She indicated plans for a floor vote as early as the week of July 20, but noted the final decision lies with Senate Majority Leader John Thune, who she said is “well aware of the importance this bill provides for market stability for digital assets.”
Committee VoteSenate Votes RequiredExpected Floor VoteTarget Passage Window15-9 (May 2026)60Week of July 20Before August recessXRP’s unique position in the billXRP stands to benefit uniquely from the CLARITY Act compared to most digital assets. While the SEC and CFTC issued a joint interpretive release in March 2026 declaring XRP, along with Bitcoin, Ether, and Solana, as a digital commodity, that status remains subject to change by a future administration.
By codifying commodity status for XRP directly into federal law, the CLARITY Act would provide needed legal certainty for institutions using the Ripple payment infrastructure. Large financial entities would be able to settle transactions in XRP with confidence, removing significant legal uncertainties that have limited institutional adoption.
Senator Lummis, who has represented Wyoming in the U.S. Senate and is known for her long-standing support of blockchain legislation, spent nearly a year addressing disputes among lawmakers. She said the bill is now ready for consideration, describing the process as arduous but concluding, “We’re ready for prime time.”
Mini dictionary: Senate Banking Committee, a powerful legislative body overseeing financial institutions, securities, and banking regulations in the United States. Committee recommendations carry significant weight in shaping financial law.
XRP’s legal status as a commodity is not yet permanent. The CLARITY Act aims to formalize that status, addressing the largest hurdle for institutions seeking to use Ripple’s ecosystem directly in the U.S. market.
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.
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Binance’s XRP reserve just hit its lowest level since February as its price prediction turns slightly bullish. XRP price is hovering near $1.11 after gaining about 4% over the past 24 hours. That bounce ended several sluggish sessions, but the next move still needs proof.
According to CryptoQuant contributor Arab Chain, Binance’s XRP holdings have dropped to roughly 2.61 billion tokens, the lowest level in six months. Even better for bulls, meaningful inflows have yet to refill those reserves since early July. Coins leaving exchanges often hint at accumulation, although the market does not always reward patience immediately.
That said, XRP slipped toward $1.06 while reserves kept shrinking. In other words, weak sentiment and thin liquidity outweighed the bullish on-chain signal. Now that buyers have returned, those reserve trends may finally matter. Markets love showing up late to the party, but they usually bring plenty of noise.
Meanwhile, the Binance CVD Confirmation Score remains at negative 6.93 million, showing sellers have controlled order flow since XRP traded above $2.00 earlier this year. For now, Binance reserve data remains a closely watched signal as traders look for the next decisive move.
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XRP Price Prediction: Break $1.15 and Reverse The Slide?Technically, the $1.06 to $1.07 zone has continued to attract buyers, helping absorb the latest pullback. Immediate resistance remains between $1.12 and $1.15, where previous rallies have repeatedly stalled. That makes this area the first real test if buyers want to keep control.
The Binance CVD Confirmation Score remains at negative 6.93 million, showing sellers have dominated order flow since XRP traded above $2.00 earlier this year. A convincing break above $1.15 needs more than a single green candle. It also needs sustained buying pressure to shift the market’s balance.
If buyers defend current support and reclaim $1.15, momentum could extend toward the $1.30 to $1.40 region. Otherwise, XRP may continue moving between $1.07 and $1.12 while traders wait for the next catalyst. A daily close below $1.06 would weaken the setup and could expose the $0.95 to $1.00 area.
Despite the recent recovery, XRP still trades about 70% below its all-time high near $3.65. That leaves plenty of room for upside, but patience remains part of the game.
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Research LiquidChain here before the next pricing tier moves.
XRP’s share of the overall cryptocurrency market is forming a notable technical pattern, according to crypto market analyst MikybullCrypto. The analyst highlighted that XRP dominance, currently at 3.124%, has entered a phase of tight consolidation following a significant breakout.
Technical pattern raises expectationsOn social media, MikybullCrypto posted a monthly chart showing XRP dominance trading within an increasingly narrow range. The analyst emphasized that, “What is coming for XRP will be massive,” and expressed confidence in the ongoing pattern formation.
The chart shows XRP dominance consolidating after a sharp advance, with candles becoming smaller as the range tightens. MikybullCrypto stated appreciation for the pattern’s technical strength.
XRP, known as the native token powering Ripple‘s payment protocol, is commonly tracked by analysts not only by its price but also its share of the entire crypto market capitalization. XRP dominance refers to this measure, which offers insights into the asset’s strength relative to peers.
Mini dictionary: XRP dominance, a metric showing XRP’s percentage share of the total cryptocurrency market capitalization, used to assess its comparative market strength over time.
Long-term resistance gives way to breakoutThe chart highlights that a multi-year descending trendline, which capped XRP dominance throughout prior market cycles, was finally breached by a large bullish move in late 2024. This shift marked a possible transition from years of suppression to renewed upward momentum for XRP dominance.
Since breaking above that resistance, XRP dominance has consolidated rather than retracing below the breakout level, indicating technical stability. The market is now focused on whether this pattern will lead to further gains.
PeriodXRP Dominance TrendKey Technical EventPrior to late 2024Declining within resistanceMulti-year descending trendlineLate 2024Sharp breakoutDominance moves above resistanceCurrentConsolidation in narrow channelTesting new structure for continuationPattern mirrors historic breakoutMikybullCrypto compared the latest price action to a previous episode in 2017, when XRP dominance spent several years moving lower before staging a major breakout. That earlier pattern saw a brief pullback after resistance was broken, leading to a strong advance. The analyst pointed out that the current setup closely resembles this earlier cycle. Extended phases of consolidation have previously resulted in significant rallies for XRP’s relative market share.
Next steps depend on technical breakoutAccording to the chart, the upper boundary of the present descending channel will be a decisive level. A breakout above this zone could complete the consolidation and signal further gains in XRP dominance. Technical analysts are monitoring to see if this move materializes. As long as the dominance measure remains above the critical breakout area achieved in late 2024, the bullish technical outlook persists.
The analysis does not specify an exact target for XRP dominance, but highlights that past consolidation periods of similar duration have often preceded rapid increases in market share.
For traders relying on technical structure, the next significant move above upper resistance will be key in determining the direction of XRP’s dominance in the digital asset landscape.
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 Ledger has entered the final two-week activation countdown for its fixCleanup3_2_0 amendment after validator support exceeded the network’s required 80% approval threshold.
Summary
XRP Ledger’s fixCleanup3_2_0 amendment has entered its two-week activation countdown. The upgrade bundles protocol fixes for lending, permissioned domains, and the Permissioned DEX. Activation is scheduled for July 29 if validator support stays above the 80% threshold. According to XRP Ledger governance data, the bundled maintenance amendment currently has 85.71% validator support, with 30 validators voting in favor and five against.
Under the network’s governance rules, an amendment must maintain at least 80% support for two consecutive weeks before it can be activated on the mainnet. If support drops below that level during the countdown, the activation timer resets.
Validator approval has moved the amendment into its final activation stage With the voting threshold now secured, the amendment has entered its activation phase and is currently scheduled to go live on July 29, 2026, at 09:57 UTC, provided validator backing remains above the required level throughout the waiting period.
XRPL validator Vet shared the update on X, noting that fixCleanup3_2_0 is now in its two-week activation window. Vet also said node operators will need to update their software before the amendment becomes active to ensure compatibility with the protocol changes.
Important bundled fix amendment is in 2-weeks activation on the XRP Ledger with 29 Yes votes.
Improving on Permissioned Domains, Permissioned DEX, MPTs, Single Asset Vaults, Lending Protocol and more.
Please update your XRPL nodes ❤️
Thanks to everyone contributing to make the… pic.twitter.com/OkpSKrMXnZ
— Vet (@Vet_X0) July 15, 2026 Unlike feature-focused upgrades, fixCleanup3_2_0 combines several maintenance fixes into a single amendment. The package addresses precision and rounding issues affecting Single Asset Vaults and the Lending Protocol while also correcting behavior in Permissioned Domains and the Permissioned DEX introduced alongside XRPL v3.2.0.
Additional protocol changes validate non-canonical Multi-Purpose Token (MPT) amounts, introduce zero DomainID verification for permissioned domains, and correct an invariant governing valid Permissioned DEX offer deletions. The amendment also adds another ledger invariant designed to prevent account deletions from leaving directly accessible artifacts behind.
By grouping multiple maintenance updates into one amendment, the XRP Ledger governance process requires validators to approve a single package instead of voting on several independent protocol changes.
Recent ecosystem growth has expanded activity around the network The maintenance vote comes as development activity on XRP Ledger continues to expand beyond core protocol updates. Earlier, the network surpassed 1 million AI-powered payments processed through the x402 protocol, highlighting increasing use of AI-enabled payment applications.
Ripple-backed t54.ai recently launched the XRPL AI Hub, a platform that brings together AI projects, autonomous agents, developer tools, payment services, and technical documentation in one place.
According to t54.ai, the hub was introduced with support from Ripple developers and the XRP Ledger Foundation to help developers discover and build AI applications on the XRP Ledger.
Although the AI Hub launch is separate from the fixCleanup3_2_0 amendment, both developments arrive as the network continues improving infrastructure for decentralized finance, tokenization, permissioned trading, and AI-powered payment services.
If validator support remains above the required threshold until the end of the activation window, fixCleanup3_2_0 will become the latest protocol update added to the XRP Ledger without requiring another round of governance voting.
A screenshot has fueled speculation that the Depository Trust & Clearing Corporation (DTCC) has actually classified or listed XRP on its platform.
However, researcher and XRPL validator Vet has made it clear that the viral claim is based on an AI-generated search response (not an official DTCC policy or documentation).
The confusion stems from a search performed on the DTCC Learning Center website. Searching for "XRP" returns an AI-generated summary titled "XRP Haircut and Classification," which states that XRP is "classified as a cryptocurrency" and describes hypothetical margin haircuts based on trading conditions.
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However, the cited source does not actually mention XRP. "It does not mention XRP in that source, so the DTCC site, when you search in that category for XRP, it tries to map via AI," Vet added.
The generated response includes a disclaimer stating that "Generated content may contain errors. Verify important information."
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Vet attributed the behavior to the enterprise search software used by the DTCC website. "You know why the AI triggers to map it for XRP? Because they use an answer machine that is based on relevant searches," he said.
According to his explanation, people in the XRP community all searched massively for XRP in the past weeks and days, prompting the AI to come up with an answer as many people searched for it.
The software generates AI responses when users repeatedly search for the same topic. "The more you search for something like XRP, the more it gets triggered to generate an answer with AI to not leave people hanging," Vet said.
The shared screenshots show HTML elements referencing Coveo Generated Answer. This confirms DTCC's Coveo's AI-powered enterprise search technology is used for generating responses.
DTCC's real digital asset pushThe confusion comes after the market infrastructure giant announced it had successfully processed live production trades using DTC-tokenized securities earlier this Wednesday.
More than 30 financial institutions and digital asset companies, including BlackRock, Goldman Sachs, J.P. Morgan, Nasdaq, Chainlink, Circle, Microsoft and the New York Stock Exchange, but Ripple is missing from the list.
Cryptocurrency trader Dark Defender has drawn renewed focus from the XRP community with a recent technical analysis shared on social media, highlighting a bullish breakout and a new Elliott Wave projection for the digital asset. The analyst’s 4-hour chart presents a scenario in which XRP could be entering a strong upward phase, with several key price levels mapped out using Fibonacci extensions.
Elliott Wave signals next upward phaseDark Defender, known for his detailed market analyses, released a chart that identifies an earlier five-wave impulse for XRP, followed by a classic ABC corrective structure. With the correction apparently completed, the analyst suggests that XRP has now started a fresh upward sequence aligned with typical Elliott Wave theory.
A blue path on the chart extends from current prices, projecting a significant move toward an anticipated Grand Wave 3 within this wave count. This projection comes after XRP rebounded from support near $1.05, recovering from the market-wide drop that took place in early June.
XRP began a bullish break on the 4-hour chart, and the path toward the Grand Wave 3 now appears open, according to Dark Defender, who commented, “We are on our way to the Grand Wave 3, baby.”
Fibonacci levels highlight targets and supportKey Fibonacci extension levels identified in the chart suggest several major price zones for XRP as buyers seek to sustain recent momentum. The analyst has mapped $1.1090 as the first target, corresponding to the 161.8% extension from the last swing low. Above this level, $1.1305 stands out as the 200% extension.
Further resistance is expected at $1.1663, aligning with the 261.8% extension, while the most ambitious target sits at $1.2265, matching the 361.8% extension. On the downside, critical support levels are marked at $1.0671, $1.0483, and $1.0344, should the price revisit lower areas.
Fibonacci LevelPrice Target161.8%$1.1090200%$1.1305261.8%$1.1663361.8%$1.2265Technical indicators support bullish outlookAccording to the analysis, XRP recently broke above the Ichimoku Cloud on the 4-hour chart, a move often associated with a shift toward bullish momentum. The price is also retesting a long-established resistance trendline, which has acted as a ceiling since June. A confirmed breakout above this trendline could reinforce the upward scenario charted in the Elliott Wave model.
The Relative Strength Index (RSI) adds further weight to the bullish case. Following a drop to oversold conditions in its recent range, the RSI has since recovered and sits above its moving average, signaling renewed upward momentum. This technical shift is marked on the chart by a noticeable green circle around the current price region.
If XRP maintains support above these nearby levels, the analyst maintains a positive outlook, with price action focusing on the major Fibonacci targets that correspond to the projected Grand Wave 3 pattern.
Mini dictionary: Elliott Wave theory — A technical analysis concept describing price cycles in financial markets, based on crowd psychology patterns that form predictable wave structures.
Recent momentum in both price and indicators positions XRP for a potential extended rally, with the Grand Wave 3 trajectory now in focus as long as key support levels hold.
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 has reached a notable step toward broader adoption in traditional finance after the Depository Trust & Clearing Corporation (DTCC) categorized it as a cryptocurrency within its Learning Center, drawing renewed institutional interest. DTCC, a critical clearinghouse that processes trillions of dollars in U.S. securities trades daily, discussed XRP’s potential role in collateral and clearing arrangements, increasing the asset’s profile in regulated financial circles.
XRP gains visibility in DTCC guidanceOn-chain analytics provider Archie observed that XRP now appears in DTCC’s educational materials, explaining specifically how it may be considered for collateral management and clearing procedures. While the Learning Center is an informational resource and not a regulatory mandate, XRP’s listing signals that DTCC clients and partners are actively reviewing how cryptocurrencies might be handled in real-world finance operations.
The inclusion is considered significant given DTCC’s central position within the U.S. securities infrastructure, influencing the processes by which institutions manage risk, optimize collateral, and meet regulatory requirements.
DTCC presents XRP alongside its guidance for cryptocurrencies, outlining scenarios in which the digital asset could be designated as collateral and specifying how market volatility may affect its eligibility and capital efficiency in institutional settings.
The development comes as more major financial bodies assess digital assets for integration into existing settlement and risk frameworks, a trend that could help bridge the gap between traditional and crypto markets.
Haircut methodology brings new standardsAs part of its updates, DTCC outlined haircut rules for cryptocurrencies, including XRP. Haircuts refer to the percentage by which the value of an asset is reduced when calculating its collateral value, typically as a buffer against volatility and risk.
Chad Steingraber, a market analyst, noted that DTCC’s educational framework proposes higher haircuts for XRP valued at $5 or below. If XRP’s price exceeds this threshold, it may be subject to a standard 35% haircut or a charge calculated using the Value-at-Risk (VaR) method, with final levels set according to market liquidity and other risk factors. The $5 mark is not presented as a target but rather as a notional reference point for illustrating the rules within the learning resource.
A higher haircut reduces the amount of capital an institution can borrow using the asset as collateral, while a lower haircut increases its capital efficiency and attractiveness for financial operations.
ScenarioXRP Price ($)Haircut AppliedBelow Benchmark$5 or lessHigher haircut (exact figure not specified)Above BenchmarkOver $535% haircut or VaR chargeSteingraber believes that inclusion in DTCC’s guidelines enhances XRP’s credibility as an asset considered for sophisticated institutional operations.
Mini dictionary: Depository Trust & Clearing Corporation (DTCC) is a major financial services company in the United States, responsible for clearing and settling almost all securities transactions in the country’s financial markets.
Institutional integration and future prospectsDTCC’s mention of XRP follows its broader move toward utilizing blockchain and digital asset solutions in live financial infrastructure. The corporation recently shifted from pilot blockchain projects to deploying tokenization infrastructure, enabling regulated digital assets and collateral to move seamlessly across its network.
Ripple, through its platform Ripple Prime, is already working with DTCC’s digital asset ecosystem, offering institutional-grade custody and trading services that support the integration of cryptocurrencies like XRP into major clearing and settlement workflows.
This collaboration brings the potential for digital assets to attain broader acceptance as credible collateral in mainstream finance, expanding their use beyond speculative trading to functions such as capital optimization and liquidity management.
These developments highlight how the evolving treatment of assets like $XRP in clearinghouse policies and integration initiatives can accelerate their adoption across institutional markets and shape the infrastructure governing digital finance’s next era.
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.
Crypto Michael, a cryptocurrency analyst known for his technical chart analysis, has reiterated his optimistic view on XRP, stating that the digital asset is on the verge of a significant price breakout. Revisiting a previously shared chart from July 1, he confirmed that his earlier perspective remains unchanged as XRP’s technical setup continues to build momentum.
Accumulation at Key LevelsOn July 1, Crypto Michael signaled his accumulation of XRP at around $1.06, emphasizing a major support level as a potential launchpad for upward movement. His analysis centered on XRP’s positioning within a large falling wedge pattern, a formation known for preceding strong price moves once a breakout occurs.
The analyst identified several months of compressed action, with XRP recording lower highs while respecting a durable support area. Throughout this period, he maintained a strategy of steady accumulation in anticipation of a bullish shift.
XRP will break out in the coming days. The prophecy will be fulfilled. Doubt me and face liquidation.
Falling Wedge Pattern Nearing a BreakoutCrypto Michael’s chart highlights a falling wedge formation, featuring converging upper and lower trendlines as the price moved closer to the wedge’s apex. This technical structure typically generates attention among traders due to its tendency to precede a decisive move when price reaches its endpoint.
He predicted that a breakout would likely take place in July, maintaining that current market conditions have not invalidated his outlook. Linking back to his original analysis, he stated that he continues to build his position and expects the market structure to resolve soon.
Mini dictionary: Falling wedge — A chart pattern often considered bullish, characterized by converging downward-sloping trendlines, which can signal a potential upward price reversal if the upper boundary is breached.
Upcoming Resistance as Price TargetAccording to Crypto Michael, the first major resistance for XRP lies between $1.90 and $2.10. This area, formerly a support, was lost following the flash crash in early 2025. His projection points to this zone as a significant upside target if a breakout occurs.
A key aspect of his current chart is a projected rally from present price levels up to this resistance band, depicted by a white arrow upward. The use of a rocket symbol beside the target further underscores his conviction that an explosive move could follow any break above the wedge.
LevelStatusNotes$1.06Accumulation zoneIdentified as entry before breakout$1.90–$2.10Resistance zoneOld support, now key targetMonitoring the Breakout SignalThe most crucial signal remains XRP’s interaction with the descending upper trendline of the wedge pattern. A close above this line would confirm the reversal suggested in his earlier analysis.
Crypto Michael’s recent statements indicate strong belief in his strategy, reaffirming that he expects XRP to break through technical resistance in the near future while maintaining his accumulation approach.
His latest updates reinforce the expectation that XRP is on the verge of a substantial move, with attention fixed on the upper boundary of the wedge for signs of confirmation.
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.
@BSCNews put two AI models to work on the same question: where does $XRP finish 2026?
@grok offered the wider range, placing XRP between $1.80 and $4.50, with a base case of $2.50 to $3.50. @claudeai's Claude (internally labelled Fable 5) came in more cautious, calling $1.50 to $1.90 the most defensible corridor and flagging that any move above $2.50 requires multiple catalysts falling into place at once.
The gap between those forecasts and current prices is stark. $XRP is trading around $1.11, down roughly 42% on the year and about 70% below its July 2025 peak of $3.66.
ETF Traction, But Still a Thin Slice of the Market Spot XRP ETFs have built a meaningful footprint since launching in late 2025. As of July 14, 2026, seven XRP spot ETFs are trading in the United States with combined AUM of approximately $1 billion. That figure looks less impressive when set against Bitcoin: the original copy notes XRP ETF assets represent roughly 1.2% of XRP market cap, compared with 6.4% for Bitcoin's spot ETF complex.
According to Bloomberg Intelligence, retail investors account for roughly 84% of cumulative XRP ETF flows so far. Retail demand can support momentum, but it rarely breaks major resistance levels without stronger institutional buying.
Everything Hinges on the CLARITY Act Both AI models leaned on the CLARITY Act as the swing factor. The original copy put Polymarket odds at 38%, and more recent data suggests the market has grown even more skeptical. As of July 13, Polymarket priced the odds of the bill becoming law this year near 24%, down from above 70% earlier in 2026.
The Senate Banking Committee approved the bill 15-9 in May, with two Democrats joining Republicans, but the measure still needs 60 votes on the floor. The 60-vote Senate threshold and Democratic vote math remain the hardest obstacles.
The key factor remains whether the CLARITY Act clears the full Senate. If it passes, institutional investors would finally have both the regulatory clarity and the ETF infrastructure needed to scale, potentially pushing XRP above $1.50 and toward the $3 to $5 range that some analysts expect by year-end.
With Polymarket odds sliding and the Senate clock ticking ahead of the August recess, the catalysts both AIs flagged as necessary for a breakout are looking harder to stack by the week.
Sources:
Yahoo Finance: XRP ETF Inflows Just Hit a 2026 High
Yellow.com: Polymarket Now Sees Only a 24% Chance the CLARITY Act Becomes Law
XRP Insights: Live XRP ETF AUM and Flow Tracker
Japan is taking steps to establish itself as a global hub for institutional XRP finance with a new partnership between Doppler Finance and SBI Digital Finance, announced on July 13, 2026. This collaboration is designed to boost institutional liquidity, lending, collateral management, and tokenized capital markets, all built around the digital asset XRP.
Strategic move for institutional XRP adoptionDoppler Finance is known for providing infrastructure to power tokenized capital markets. The company specializes in solutions that help institutions use digital assets more productively. SBI Digital Finance operates HashHub Lending, one of the main crypto asset lending services in Japan. The firm is part of SBI Group, Japan’s leading financial conglomerate heavily involved in cryptocurrency services.
SBI Group co-founded SBI Ripple Asia with Ripple in 2016. This joint venture has played a major role in building out an extensive ecosystem for XRP-focused financial products and services in Japan. The latest partnership with Doppler Finance further expands this foundation, targeting direct institutional use cases.
Mini dictionary: SBI Group, a major Japanese financial services company, has played a significant role in promoting digital asset adoption in Japan through ventures in banking, asset management, securities, and cryptocurrency.
Focus on compliance and expanded infrastructureThe partnership aims to create institutional solutions centered on XRP and tokenized assets for the Japanese market. Regulatory compliance will be a core part of this approach, ensuring that new digital assets infrastructure meets the country’s strict standards.
As part of the announcement, Rox, Head of Institutions at Doppler Finance, stated that Doppler was “built to transform digital assets from passive holdings into productive financial capital.” He also highlighted that collaborating with SBI Digital Finance gives Doppler access to one of the world’s most prominent institutional digital asset markets.
Doppler Finance’s leadership emphasized that working with SBI Digital Finance provides an opportunity to unlock new levels of capital efficiency for institutional clients by leveraging Japan’s advanced regulatory environment and robust market demand.
Japan’s growing role in digital assetsJapan is recognized for having some of the world’s clearest and most established digital asset regulations. The country hosts one of the largest XRP communities worldwide and has increasingly advanced digital asset adoption across its financial system.
Institutional participation in Japanese crypto markets is well developed, and the new partnership is set to offer improved infrastructure for compliant, capital-efficient XRP solutions tailored to institutional needs.
Implications for the future of XRP in institutional financeXRP, created by Ripple as a fast, low-cost settlement asset, is now positioned to serve much broader institutional functions. The deal between Doppler Finance and SBI Digital Finance will make lending, collateral management, and capital efficiency tools available for institutions looking to integrate XRP on their balance sheets.
Over recent years, SBI Group has consistently strengthened its involvement with XRP, extending from cross-border payments through SBI Ripple Asia to exchange services provided by SBI VC Trade. The latest move into institutional lending infrastructure with Doppler Finance marks a significant continuation of this trend.
Institutional demand for digital assets is shifting toward platforms and infrastructure that enable active capital deployment rather than simple custody. While Japan is the launch market, the infrastructure developed here could eventually serve as a model for institutional XRP finance globally.
InstitutionArea of FocusRole in XRP EcosystemSBI GroupBanking, crypto servicesCo-founded SBI Ripple Asia, exchange, lendingDoppler FinanceTokenized capital marketsInfrastructure and lending solutionsDisclaimer: 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.
A viral screenshot has sparked rumors suggesting that the Depository Trust & Clearing Corporation (DTCC) has classified or listed the cryptocurrency XRP on its official platform. DTCC, a New York-based post-trade financial services company, is one of the largest clearing and settlement institutions in global markets.
Screenshot origins and viral claimsThe speculation began after users circulated a screenshot from the DTCC Learning Center website. This image showed a search result titled “XRP Haircut and Classification,” which described XRP as a cryptocurrency and referenced hypothetical margin adjustments depending on trading conditions.
Despite the convincing appearance of the result, XRPL validator and researcher Vet clarified that the viral claim relies solely on an AI-generated search response rather than any official DTCC listing or documentation. Vet explained that the actual DTCC source cited in the screenshot makes no mention of XRP.
Vet emphasized that the DTCC site does not reference XRP in the cited materials. The AI-driven tool serving the search results attempts to map answers based on the popularity and relevance of searched keywords.
How Coveo AI search fueled confusionAccording to Vet, the confusion arises from the behavior of the Coveo-powered enterprise search software integrated into the DTCC website. When users search for specific terms like XRP repeatedly, the AI is programmed to generate contextual answers even when no official material exists on the subject.
Vet noted that a surge in XRP-related searches by the online community in recent weeks led the AI to automatically curate an answer to address the apparent demand. This mechanism can produce search result snippets that appear official, despite being AI-generated and not based on DTCC documentation.
Mini dictionary: Coveo is an AI-powered enterprise search platform that delivers intelligent, context-aware search results for corporate websites, aiming to enhance user experience by aggregating information from multiple sources.
Screenshots shared within the XRP community display elements labeled “Coveo Generated Answer,” confirming the software’s role in generating such AI-based content.
Corporate context and recent DTCC developmentsThe situation unfolded shortly after DTCC announced it had completed live production trades using tokenized securities this week. This development attracted attention within the broader digital asset industry, as tokenized securities can allow traditional financial assets to be issued and transferred on blockchain infrastructure.
DTCC’s pilot included participation from over 30 companies, spanning major financial institutions and technology providers, such as BlackRock, Goldman Sachs, J.P. Morgan, Nasdaq, Chainlink, Circle, Microsoft, and the New York Stock Exchange. However, Ripple, the company closely associated with XRP and distributed ledger payments technology, was not among the listed participants.
Although the AI feature fueled hopes for an official DTCC listing, no documentation or participant list currently supports XRP’s inclusion or classification on the DTCC platform.
FeatureOfficial DTCC DocumentationAI-Generated Search AnswerXRP MentionedNoYesSource VerificationDocumentedAI-generated, not officialCredibilityHighUnverifiedUser ImpactLowHigh confusionIndustry observers have advised caution, stressing the importance of distinguishing between results generated by AI-powered search tools and official corporate announcements or listings.
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.
Llamalend v2 is now live on Ethereum, following its first production rollout on Optimism.
The upgrade brings Curve’s liquidity and lending layers much closer together. A Curve pool can support secondary trading, oracle pricing and the routes needed to manage liquidations, while Llamalend adds borrowing and lending around that same onchain liquidity. The DEX pool and lending market can be built as parts of one market rather than two disconnected tracks.
V2 also expands Curve lending beyond markets that require crvUSD on one side. It supports a wider range of borrowed assets and collateral types, including supported Curve LP tokens, allowing liquidity positions to be used as collateral. Every market remains isolated with its own oracle, parameters and caps.
From Optimism to EthereumLlamalend v2 first went live on Optimism in June. OP incentives helped the initial markets attract supply and borrowing quickly, while giving the contracts, frontend, oracles and reward infrastructure their first production test.
The initial markets have operated normally to date. That rollout also gave the team time to work through the additional oracle validation and infrastructure changes required before deploying on Ethereum.
Ethereum is the next planned phase. Initial markets will begin with zero borrow caps, and borrowing will open market by market after the Curve DAO approves the initial borrow caps. V2 also supports the gradual migration of selected v1 lending and crvUSD mint markets to newer infrastructure and expanded controls.
Lending Built Around LiquidityLiquidity is not only what makes trading possible. It is also what makes a lending market viable. A market needs dependable pricing and enough depth to manage collateral when prices move.
Where appropriate, a Curve pool can provide EMA-based oracle input and a liquid secondary venue for the collateral asset. Each Llamalend market also contains its own LLAMMA, which gradually converts between the collateral and borrowed asset across a price range. This creates tradeable liquidity that arbitrageurs and aggregators can access.
For asset issuers, the same Curve liquidity can therefore support secondary trading, oracle pricing and a lending market around the asset. This can reduce the need to build and subsidize separate infrastructure for each function.
It does not remove the need for real market depth, lender supply or borrowing demand. Those remain requirements for a healthy lending market.
Flexible Markets, Isolated ExposureLlamalend v1 required crvUSD on one side of every lending market. V2 removes that restriction. Supported assets can now sit on either side, subject to suitable liquidity, oracle design and market parameters.
Every market remains one-way and isolated. It has one collateral asset, one borrowed asset, and its own lender vault, interest-rate model, oracle, caps and risk settings.
This gives lenders more precise exposure. They choose which asset they are supplying and exactly which collateral backs the borrowing in that market. Credit and collateral risk are contained within that market rather than shared across an unrelated group of assets.
V2 also supports productive collateral and high-LTV configurations. Supported Curve LP tokens can secure a loan while the underlying pool position continues accruing trading fees. This lets users borrow against liquidity they are already providing instead of leaving positions in only one role.
With this update, Llamalend becomes an ideal venue for yield farmers who want to use LP, yield-bearing, or principal tokens as collateral to amplify their earnings.
What Range-Based Liquidation Actually MeansLLAMMA remains a defining part of Llamalend, but it should be understood as a risk-management mechanism, not a guarantee against liquidation.
Instead of waiting for one fixed liquidation price, a loan’s collateral is placed across a range of price bands. When the market enters that range, portions of the collateral are gradually converted into the borrowed asset. If the price recovers, part of that conversion may reverse.
This can avoid an immediate, all-at-once liquidation, but losses can accumulate inside the range and the loan can still be hard-liquidated if its health reaches zero. Borrowers should treat entry into the range as a warning, not something to ignore. And where available in v2 markets, the new “position reset” feature allows you to use current converted collateral to move positions out of the range.
For more detail, see Curve’s guides to liquidations and custom bands.
The Ethereum RolloutThe initial Ethereum markets will be announced alongside deployment and the corresponding governance proposals.
Each market will launch with its borrow cap set to zero. Users will be able to supply assets, but borrowing will only open once the Curve DAO approves the initial caps. Curve governance proposals take approximately seven days from creation to execution.
Base lending interest depends on utilization, so suppliers should not expect interest from borrowers until the caps are enabled. Any separate incentives will be displayed in the Curve interface.
Borrow caps can then be raised progressively by governance as liquidity, demand and market behaviour become clearer. The objective is not to activate every possible asset pair immediately, but to grow markets where the pricing, liquidity and demand are strong enough to support them.
Llamalend v2 is now deployed on Ethereum. Borrowing opens market by market as the first governance proposals pass.
[Explore the markets] · [Follow the governance votes]
CASHCAT, a memecoin that has experienced sharp price increases in recent days, has been the subject of insider trading allegations.
Cashcat, a memecoin that has been one of the most talked-about altcoins in recent days and has seen a sharp rise since the launch of Robinhood Chain, is now facing allegations of “insider trading.”
The allegations center around an anonymous address that purchased 16.3 million CASHCAT for 1.6 ETH shortly after the token’s launch.
According to Lookonchain, a cryptocurrency analysis platform, an address starting with “0xae0F” initially acquired 16.3 million CASHCAT by spending 1.6 Ethereum (worth $3,000) when it was first launched. Following the massive price surge, it sold all 16.3 million CASHCAT for 1.527 ETH ($2.855 million), making a profit of $2.85 million.
This means CASHCAT has achieved a 952x return.
At this point, the fact that this investor bought CASHCAT at what could be called a bottom and sold their holdings at what could be considered a top led to the emergence of “insider” allegations for memecoin.
However, there is no official confirmation so far that the investor used insider information.
CASHCAT, which recently rose above $0.22, has fallen to around $0.11 following the latest sell-off. With a drop of over 35% in just the last 24 hours, CASHCAT is currently trading at $0.128.
*This is not investment advice.
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Crypto clearing startup Glacis Labs has closed a $6.8 million seed round. The round was led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN (formerly IDC Ventures), Protein Capital, and Techni Ventures, structured as an equity-plus-token warrant deal. The funding will primarily be used to expand its core product, the ZeroDelta platform, and support the growth of its engineering, compliance, and marketing teams. ZeroDelta is a multi-chain clearing platform that facilitates matching, netting, and final settlement of cross-chain digital assets. It currently focuses on serving stablecoins and has processed over $1 billion in cumulative trading volume to date.
4 hours ago
The United States will issue a $1 Trump gold coin to commemorate the 250th anniversary of its founding.
US Treasury Secretary Scott Bessent announced today that the U.S. Mint will produce a $1 commemorative "gold coin" — gold in appearance but containing no actual gold or precious metals — to mark the 250th anniversary of the founding of the United States. The obverse features a portrait of President Trump in a suit and tie, paired with the inscriptions "LIBERTY," "IN GOD WE TRUST," and the dates 1776-2026; the reverse displays the U.S. Great Seal eagle, marked with "$1" and "250." The coin is expected to be released this fall. The move breaks the longstanding tradition that living presidents typically do not appear on U.S. currency, with Bessent describing it as a "lasting symbol of patriotism" and "a commemoration of the legacy of freedom."
4 hours ago
Trump: Data centers are a cash cow and one of the largest drivers of future job growth.
Trump posted that data centers are one of the biggest drivers of future job growth. They are large-scale, powerful, and have broad prospects, serving as cash cows for their respective states. However, for political reasons, the Governor of New York State terminated all data center projects under construction or planned in New York. These companies are now flocking to Alabama, Florida, Texas, Arizona, and many other states. The tax revenues and jobs brought by data centers are truly a huge source of wealth! New York State has made a bad decision. All this revenue and other benefits will flow to so-called "red states" (states dominated by the Republican Party) and some "blue states" (states dominated by the Democratic Party). These states not only have lower taxes but also can create record job opportunities. They will bear their own water and electricity costs, and the remaining funds will be returned to state governments and local communities. For the states and communities fortunate enough to secure data centers, these facilities are undoubtedly huge assets. New York State should immediately reverse its policy. We must never allow radical left-wing Democrats to make us lose data centers, artificial intelligence, and all these amazing new technologies, letting them fall into the hands of other countries!
4 hours ago
Goldman Sachs' View: Storage Market Shows Structural Shifts, Partial Replacement of DRAM by NAND for Cost Reduction Becomes a Practical Trend
Citirni analyst Jukan referenced Goldman Sachs’ monthly conference call remarks on the memory sector, noting clients’ strong resistance to DRAM price hikes approaching 30%, leading to a modest downward revision of third-quarter DRAM price growth expectations. Meanwhile, the outlook for NAND has grown more optimistic: AI-related KV cache offloading demand continues to exceed expectations, paired with an emerging trend of using NAND to replace expensive DRAM, further supporting NAND demand. The analyst holds a positive view on SK Hynix’s second-quarter performance, projecting revenue of approximately 85 trillion won and a gross margin of 63%. Relevant stocks include SK Hynix, Micron, and SanDisk. The commentary also reveals structural shifts in the memory market. Previously, explosive HBM demand from AI servers drove DRAM prices soaring, but once price increases hit the 30% threshold, clients began resisting further hikes, leading to a temporary slowdown in the pace of DRAM price growth. NAND is taking on a new role in AI infrastructure: KV cache is critical in inference scenarios, and using cheaper NAND to partially replace expensive DRAM to reduce costs is becoming a practical trend. This divergence also implies that internal capital rotation within the storage industry chain may continue; investors should exercise greater caution regarding short-term earnings expectations for DRAM-related stocks, while the fundamental improvement in the NAND segment may not yet be fully priced in.
4 hours ago
SpaceX falls below its $135 IPO price for the first time; US-listed space-related stocks decline across the board.
According to market data from BIT (bit.com), during U.S. stock intraday trading, SpaceX (SPCX) fell below its IPO price of $135 for the first time, currently trading at $133.6. U.S. space-related stocks declined across the board: AST SpaceMobile (ASTS) dropped 5.26%, Rocket Lab (RKLB) fell 3.4%, and Redwire (RDW) declined 3.4%.
4 hours ago
A certain address profited 23.75 million USDC via the Ostium exploit, then exchanged the funds for 12,085 ETH.
According to EmberCN’s monitoring, an hour and a half ago, the DeBank address under the username musti_akrep exploited a vulnerability on Perp DEX Ostium to gain 23.75 million USDC, transferred the funds to the Arbitrum blockchain, and immediately converted the USDC into 12,085 ETH at a purchase price of $1,965.
Coinbase’s CEO, Brian Armstrong, recently stated that the exchange is the premier choice for family offices and ultra-high-net-worth individuals (UHNW) in the European Union seeking crypto exposure. This announcement highlights Coinbase’s commitment to providing secure, regulated services tailored to institutional investors within the EU. The exchange’s recent acquisition of a MiCA license under the Markets in Crypto-Assets framework allows it to offer compliant crypto and custody services across all 27 EU member states. This regulatory milestone positions Coinbase as a key player for EU wealth entities, distinguishing it from other platforms that lack such compliance.
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Markets appear to interpret Armstrong’s statement as potentially increasing demand for cryptocurrencies like Ethereum among institutional investors. The news comes amid various market activities that suggest a complex outlook for Ethereum’s future price movements. While some sub-markets remain supportive of significant price increases, indicating potential optimism, the overall market remains cautious with mixed indicators.
Key Takeaways Coinbase’s positioning under the MiCA framework suggests its growing role as a regulated gateway for EU family offices and UHNW individuals seeking crypto exposure. Market pricing suggests that this development could influence institutional demand for Ethereum, consistent with scenarios where demand increases. Despite this positive outlook for institutional interest, Ethereum’s market probabilities for reaching high price targets by the end of 2026 remain relatively low. What to Watch Key developments to monitor include any further strategic announcements from Coinbase that could enhance its appeal to institutional investors. Additionally, watch for changes in Ethereum-related regulations or major investment flows from institutional entities like BlackRock or Fidelity. Such events could further shift market sentiment and influence Ethereum’s price trajectory. The unfolding regulatory environment in the EU and updates from significant stakeholders like Vitalik Buterin and the Ethereum Foundation may also impact market dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31, 2026 1.8% — — View market → December 31, 2026 2.4% — — View market → December 31, 2026 2.6% — — View market → December 31, 2026 3.6% — — View market → December 31, 2026 5.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.5% — — View market → January 1 2027 3.1% — — View market → January 1 2027 4.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 48.2% — — View market → January 1 2027 7.5% — — View market → January 1 2027 3% — — View market → January 1 2027 30% — — View market → January 1 2027 26.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 90% — — View market →
The team behind the Ethereum Foundation’s Institutional Privacy Task Force has formed an independent company called EthSystems. This new venture focuses on developing confidential systems that enable banks, asset managers, and other large organizations to conduct real financial activities on Ethereum’s public network while maintaining necessary privacy protections.
The transition allows the group to operate with a commercial structure better suited for delivering tailored solutions to enterprises.
Institutions increasingly see value in Ethereum for applications such as stablecoins, tokenized assets, and efficient settlement.
However, the transparent nature of public blockchains often conflicts with requirements to keep sensitive details—such as positions, counterparties, and transaction flows—confidential.
EthSystems aims to bridge this gap through modular privacy technologies that support selective disclosure aligned with regulatory and compliance standards.
Led by experienced professionals including Mo Jalil, Oskar Thorén, and Aaryamann Challani, the company draws on nearly a decade of expertise in protocol design, privacy infrastructure, and traditional finance.
The team previously advanced this work inside the foundation, engaging directly with major global institutions and shipping practical open-source prototypes.
These efforts include private bond constructions using zero-knowledge proofs, privacy-focused layer-2 approaches, explorations of fully homomorphic encryption, compliance-oriented shielded pools for stablecoin transfers, private cross-chain atomic swaps, and resilient systems for identity and civic participation.
A comprehensive Ethereum Privacy Map further documents use cases, architectural patterns, regulatory considerations across jurisdictions, and available tools, serving as a valuable resource for the ecosystem. All technical contributions remain open source, with ongoing public goods work planned alongside commercial activities.
EthSystems adopts a for-profit model to act as a credible commercial partner capable of handling bespoke engagements.
Services range from workshops that refine institutional requirements into actionable specifications, to proof-of-concept development, architecture reviews, and full production deployments integrated with existing systems.
This structure facilitates the deep technical execution needed for high-stakes financial infrastructure, while the company remains aligned with Ethereum’s long-term vision and continues collaborating with the foundation and related spin-outs like EthLabs and Ethereum Institutional.
Backers include long-term Ethereum supporters, reflecting confidence in the team’s ability to navigate the complex intersection of public ledgers, privacy, and institutional demands.
The founders emphasize a pluralistic approach that balances cypherpunk principles with practical enterprise needs, ensuring systems prioritize properties such as censorship resistance, openness, privacy, and security.
As global financial infrastructure evolves, EthSystems positions itself to accelerate Ethereum’s role beyond asset speculation into core commercial rails.
By focusing on rigorous protocol design and real-world usability, the company contributes to a future where institutions can confidently build on public, immutable ledgers without compromising sensitive operations. This development underscores Ethereum’s maturation as a versatile platform capable of serving diverse participants through specialized, collaborative innovation.
English繁體中文日本語한국어ไทยPortuguêsItalianoDeutschFrançaisEspañol Ethereum gained 8.23% over the past week to trade at $1,874.61 as of July 15, while the largest corporate ETH holder, Bitmine Immersion Technologies, disclosed that its holdings have reached 5.77 million tokens, according to a July 13 press release. The company’s total crypto and cash holdings now stand at $11.3 billion.
$45.7M in Staking Revenue Drives Bitmine’s Pivot Bitmine reported $45.7 million in Ethereum staking and validation revenue for the three months ended May 31, 2026, representing 98% of total revenue for the quarter, according to its latest 10-Q filing.
The figure marks a dramatic shift from a year earlier, when the company generated just $2 million in total quarterly revenue, primarily from machine leasing. Bitmine has staked approximately 4.9 million ETH, or 85% of its holdings, through its institutional staking platform MAVAN, launched in March 2026.
“Bitmine has staked more ETH than other entities in the world,” Tom Lee, Chairman of Bitmine, said in the company’s July 13 press release. Lee added that at full deployment, projected annualized staking rewards would reach $284 million.
Institutional Tailwinds Meet Stubborn Technical Resistance The weekly price gain coincided with $84.4 million in net inflows into U.S. spot Ethereum ETFs, reversing a prior outflow trend. Bitmine’s accumulation adds to a broader pattern of institutional positioning. The company now holds 4.8% of the total ETH supply and was added to the Russell 1000 large-cap index on June 26.
Its holdings represent the largest public Ethereum treasury, ranking second globally behind Strategy’s Bitcoin reserves. Bitmine’s staking yield of 2.70% annualized generates revenue that its Bitcoin self-mining operations ($624,000) and consulting ($168,000) cannot match.
Price Gains Lack Broad Technical Confirmation Despite the weekly rally, ETH remains below all major weekly moving averages. The MA-20 sits at $2,009.48, the MA-50 at $2,868.76, and the MA-200 at $2,475.43, according to Traders Union analysis. The weekly RSI, CCI, and MACD all indicate bearish momentum, while the Stochastic RSI tilts toward overbought territory.
Bear Power confirms seller dominance, and the Awesome Oscillator shows no bullish reversal signal. That technical picture suggests the 8.23% gain could face exhaustion rather than continuation, even as institutional flows remain positive.
Bitmine’s accumulation model mirrors what Strategy has done for Bitcoin, but with a staking income component that Bitcoin lacks. At current prices, Bitmine’s 5.77 million ETH is worth approximately $10.8 billion.
The company acquired 27,801 ETH in the most recent reporting week alone, maintaining the pace set under its “Alchemy of 5%” initiative, which targets ownership of 5% of all ETH by the end of 2026. Bitmine is currently at 4.8% of the total supply.
The Ethereum Foundation separately reorganized its privacy task force into EthSystems, a for-profit entity designed to deliver privacy and compliance solutions for institutional users, adding another layer to the ecosystem’s enterprise push.
Analysts expect ETH to trade in a range of $1,790 to $1,960 over the next seven days, with less than a 20% probability of sustained upside. A decisive break above $1,960 would challenge the bearish technical consensus. Bitmine’s next weekly holdings disclosure, due around July 20, will show whether the company continued accumulating through the rally or paused near resistance levels.
The cryptocurrency ETF complex is absorbing capital with a consistency that market veterans rarely see outside of commodity bull cycles. On July 14, spot Bitcoin ETFs hoovered up $181 million in net inflows, and in a rare clean sweep, all ten spot Ethereum ETFs ended the session in positive territory—no outflows anywhere. The combined haul of roughly $239 million, based on the original report citing SoSoValue data, is not just another data point. It’s a signal that institutional positioning in digital assets is broadening beyond a single-asset bet.
That absence of outflows on the Ethereum side matters. Since their launch, spot ETH products have endured mixed flows, partly because the Ethereum narrative is harder to distill into a one-line pitch. But a day with zero redemptions across the entire suite suggests sentiment is firming. Traders who rebalanced out of Bitcoin into Ethereum in recent weeks may now be holding, rather than rotating quickly. And the Bitcoin number, while not unprecedented, reinforces a pattern: every dip is being bought by someone with a longer time horizon.
The flow data arrives in a month where traditional finance’s engagement with crypto is becoming harder to dismiss as cyclical noise. Just days ago, Bullish bought Equiniti for $4.2 billion and Ondo settled the first live tokenized Treasury trade with JPMorgan, while on-chain real-world assets crossed $20 billion. ETF inflows are part of the same structural shift: institutions want exposure, and they are routing demand through regulated wrappers because it reduces compliance friction.
Why Zero Outflows on Ethereum ETFs Is a Tightening Signal Days with no Ethereum ETF outflows are unusual. They hint at a market where sellers are either exhausted or unwilling to part with positions at current prices. That is not necessarily a bullish price call; it is a liquidity signal. When supply thins, even modest incremental demand can move price more violently. Ethereum’s recent developer activity also provides a fundamental floor. According to BlockchainReporter’s analysis, Ethereum, BNB Chain, and Polygon still lead blockchain developer activity, which means the ecosystem’s brain trust is not leaving.
What Makes These Flows Different Now Earlier ETF inflow waves were often tied to momentum trading. The current wave feels stickier. Advisors are placing crypto in model portfolios; pension consultants are no longer rejecting it outright in every RFP. The July 14 data shows no single fund dominated the Bitcoin inflows disproportionately, which suggests distribution across multiple products. That is more consistent with broad platform inflows than with a handful of large traders placing tactical bets.
Regulation is still the wild card. The crypto bill that passed the House is now facing a make-or-break moment in the Senate, with banks pushing hard to alter key provisions four days before the vote. If the framework collapses, ETF issuers will face continued ambiguity around custody and capital treatment. That uncertainty is the main counterweight to the flow picture.
What We Don’t Know Yet Flow numbers are backward-looking. They tell you what happened, not what will happen. A single day of zero outflows on Ethereum ETFs does not mean the product line is permanently stable. Macro liquidity, yen carry trade risks, and the Treasury’s quarterly refunding announcement could all override crypto-specific sentiment within hours. Still, the market is pricing in something durable. When Bitcoin ETF inflows hold above $150 million on a nonevent day and Ethereum ETFs print no redemptions, the default assumption among professional traders shifts from u201cthis is a beta play on risk appetiteu201d to u201cthere is actual separate demand for these assets.u201d
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.
$45.8 Billion In Market Losses Wiped Out Every Dollar Of New MoneyBlackRock attracted $15.1 billion in fresh crypto capital over 12 months, but $45.8 billion in market depreciation overwhelmed every dollar of those inflows, shrinking the business from $79.6 billion to $48.8 billion.
The second quarter made things worse.
What Does BlackRock’s Broader Business Look Like?Crypto was the one weak spot in an otherwise record quarter.
BlackRock posted $15.3 trillion in total assets under management after attracting $192 billion in net inflows, beating Wall Street expectations with adjusted earnings per share of $13.91 on $7.08 billion in revenue.
Crypto currently generates $40 million in base fees and securities lending, less than 1% of total fee revenue.
BlackRock is targeting $500 million in annual crypto revenue by 2030, a more than tenfold increase from today.
What Is BlackRock’s Long-Term Crypto Bet?Chief Financial Officer Martin Small pointed to 5 billion crypto wallets as a new distribution channel for traditional investment products.
“We want to build a digital wallet native asset manager,” Small said on the earnings call.
Where Does BLK Stand Technically?BLK trades at $1,094.68, sitting 7.9% above its 20-day SMA at $1,012.78 and 3.1% above its 200-day SMA at $1,059.81.
MACD sits above its signal line with a positive histogram, pointing to improving momentum after the earnings pop.
Key levels for BLK $1,107.50 — resistance just above current price where the rally may stall $1,030.00 — support near the 50-day SMA, first line of defense on any pullback Image: Shutterstock
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English繁體中文日本語한국어ไทยPortuguêsItalianoDeutschFrançaisEspañol Ethereum subió un 8,23% durante la última semana y se negoció a $1.874,61 al 15 de julio, mientras que el mayor tenedor corporativo de ETH, Bitmine Immersion Technologies, reveló que sus tenencias alcanzaron los 5,77 millones de tokens, según un comunicado de prensa del 13 de julio. El total de las tenencias en criptomonedas y efectivo de la compañía asciende ahora a $11.300 millones.
$45,7M en ingresos por staking impulsan el giro de Bitmine Bitmine reportó $45,7 millones en ingresos por staking y validación de Ethereum durante los tres meses finalizados el 31 de mayo de 2026, lo que representa el 98% de los ingresos totales del trimestre, según su más reciente informe 10-Q.
La cifra marca un cambio drástico respecto a un año antes, cuando la compañía generó apenas $2 millones en ingresos totales trimestrales, principalmente por arrendamiento de equipos. Bitmine ha puesto en staking aproximadamente 4,9 millones de ETH, o el 85% de sus tenencias, a través de su plataforma institucional de staking MAVAN, lanzada en marzo de 2026.
«Bitmine ha puesto en staking más ETH que cualquier otra entidad en el mundo», declaró Tom Lee, presidente de Bitmine, en el comunicado de prensa del 13 de julio de la compañía. Lee agregó que, en despliegue total, las recompensas de staking anualizadas proyectadas alcanzarían los $284 millones.
Vientos favorables institucionales chocan con una resistencia técnica persistente La ganancia semanal de precio coincidió con $84,4 millones en entradas netas hacia los ETF spot de Ethereum en EE.UU., revirtiendo una tendencia previa de salidas. La acumulación de Bitmine se suma a un patrón más amplio de posicionamiento institucional. La compañía posee ahora el 4,8% de la oferta total de ETH y fue incorporada al índice de gran capitalización Russell 1000 el 26 de junio.
Sus tenencias representan la mayor tesorería pública de Ethereum, ocupando el segundo lugar a nivel mundial detrás de las reservas de Bitcoin de Strategy. El rendimiento por staking de Bitmine, del 2,70% anualizado, genera ingresos que sus operaciones de autominería de Bitcoin ($624.000) y consultoría ($168.000) no pueden igualar.
Las ganancias de precio carecen de confirmación técnica amplia A pesar del repunte semanal, ETH permanece por debajo de todas las principales medias móviles semanales. La MA-20 se ubica en $2.009,48, la MA-50 en $2.868,76 y la MA-200 en $2.475,43, según el análisis de Traders Union. El RSI, el CCI y el MACD semanales indican todos un impulso bajista, mientras que el Stochastic RSI se inclina hacia territorio de sobrecompra.
El Bear Power confirma el dominio de los vendedores, y el Awesome Oscillator no muestra señal alguna de reversión alcista. Ese panorama técnico sugiere que la ganancia del 8,23% podría agotarse en lugar de continuar, incluso mientras los flujos institucionales se mantienen positivos.
El modelo de acumulación de Bitmine refleja lo que Strategy ha hecho con Bitcoin, pero con un componente de ingresos por staking que Bitcoin no posee. A los precios actuales, los 5,77 millones de ETH de Bitmine tienen un valor aproximado de $10.800 millones.
La compañía adquirió 27.801 ETH solo en la semana de reporte más reciente, manteniendo el ritmo establecido bajo su iniciativa «Alchemy of 5%», que apunta a poseer el 5% de todo el ETH para finales de 2026. Bitmine se encuentra actualmente en el 4,8% de la oferta total.
La Ethereum Foundation reorganizó por separado su grupo de trabajo de privacidad en EthSystems, una entidad con fines de lucro diseñada para ofrecer soluciones de privacidad y cumplimiento normativo para usuarios institucionales, sumando otra capa al impulso empresarial del ecosistema.
Los analistas esperan que ETH cotice en un rango de $1.790 a $1.960 durante los próximos siete días, con una probabilidad inferior al 20% de un alza sostenida. Una ruptura decisiva por encima de $1.960 desafiaría el consenso técnico bajista. La próxima divulgación semanal de tenencias de Bitmine, prevista para alrededor del 20 de julio, mostrará si la compañía continuó acumulando durante el repunte o hizo una pausa cerca de los niveles de resistencia.
English繁體中文日本語한국어ไทยPortuguêsItalianoDeutschFrançaisEspañol Ethereum ha guadagnato l’8,23% nell’ultima settimana, attestandosi a 1.874,61 dollari al 15 luglio, mentre il maggiore detentore corporate di ETH, Bitmine Immersion Technologies, ha dichiarato che le sue riserve hanno raggiunto 5,77 milioni di token, secondo un comunicato stampa del 13 luglio. Le riserve totali in criptovalute e liquidità dell’azienda si attestano ora a 11,3 miliardi di dollari.
45,7 milioni di dollari di ricavi da staking guidano la svolta di Bitmine Bitmine ha riportato 45,7 milioni di dollari di ricavi da staking e validazione di Ethereum per i tre mesi terminati il 31 maggio 2026, pari al 98% dei ricavi totali del trimestre, secondo il suo ultimo modulo 10-Q.
Il dato segna un cambiamento drastico rispetto a un anno prima, quando l’azienda aveva generato appena 2 milioni di dollari di ricavi trimestrali totali, principalmente dal leasing di macchinari. Bitmine ha messo in staking circa 4,9 milioni di ETH, ovvero l’85% delle sue riserve, tramite la sua piattaforma di staking istituzionale MAVAN, lanciata nel marzo 2026.
“Bitmine ha messo in staking più ETH di qualsiasi altra entità al mondo”, ha dichiarato Tom Lee, presidente di Bitmine, nel comunicato stampa dell’azienda del 13 luglio. Lee ha aggiunto che, a piena implementazione, le ricompense annualizzate previste da staking raggiungerebbero i 284 milioni di dollari.
I venti favorevoli istituzionali incontrano una resistenza tecnica ostinata Il guadagno settimanale dei prezzi ha coinciso con 84,4 milioni di dollari di afflussi netti negli ETF spot su Ethereum statunitensi, invertendo un precedente trend di deflussi. L’accumulo di Bitmine si aggiunge a un più ampio schema di posizionamento istituzionale. L’azienda detiene ora il 4,8% dell’offerta totale di ETH ed è stata inclusa nell’indice large-cap Russell 1000 il 26 giugno.
Le sue riserve rappresentano la più grande tesoreria pubblica in Ethereum, classificandosi al secondo posto a livello globale dietro le riserve di Bitcoin di Strategy. Il rendimento da staking di Bitmine, pari al 2,70% annualizzato, genera ricavi che le sue operazioni di self-mining su Bitcoin (624.000 dollari) e di consulenza (168.000 dollari) non possono eguagliare.
I guadagni di prezzo non trovano ampia conferma tecnica Nonostante il rally settimanale, ETH resta al di sotto di tutte le principali medie mobili settimanali. La MA-20 si trova a 2.009,48 dollari, la MA-50 a 2.868,76 dollari e la MA-200 a 2.475,43 dollari, secondo l’analisi di Traders Union. L’RSI, il CCI e il MACD settimanali indicano tutti un momentum ribassista, mentre lo Stochastic RSI si inclina verso il territorio di ipercomprato.
Il Bear Power confirma il predominio dei venditori, e l’Awesome Oscillator non mostra alcun segnale di inversione rialzista. Questo quadro tecnico suggerisce che il guadagno dell’8,23% potrebbe esaurirsi piuttosto che proseguire, anche se i flussi istituzionali restano positivi.
Il modello di accumulo di Bitmine riflette quanto fatto da Strategy per Bitcoin, ma con una componente di reddito da staking che Bitcoin non possiede. Ai prezzi attuali, i 5,77 milioni di ETH di Bitmine valgono circa 10,8 miliardi di dollari.
L’azienda ha acquisito 27.801 ETH solo nell’ultima settimana di rendicontazione, mantenendo il ritmo fissato dalla sua iniziativa “Alchemy of 5%”, che punta al possesso del 5% di tutto l’ETH entro la fine del 2026. Bitmine si trova attualmente al 4,8% dell’offerta totale.
L’Ethereum Foundation ha inoltre riorganizzato la propria task force sulla privacy in EthSystems, un’entità a scopo di lucro pensata per fornire soluzioni di privacy e conformità agli utenti istituzionali, aggiungendo un ulteriore livello alla spinta enterprise dell’ecosistema.
Gli analisti si aspettano che ETH tratti in un range compreso tra 1.790 e 1.960 dollari nei prossimi sette giorni, con una probabilità inferiore al 20% di un rialzo sostenuto. Una rottura decisiva sopra 1.960 dollari metterebbe in discussione il consenso tecnico ribassista. La prossima comunicazione settimanale delle riserve di Bitmine, prevista attorno al 20 luglio, mostrerà se l’azienda ha continuato ad accumulare durante il rally o si è fermata in prossimità dei livelli di resistenza.
Ethereum is preparing what many developers call its biggest upgrade since The Merge, the 2022 change that moved the network from proof-of-work to proof-of-stake consensus mechanism.
For context, The Merge was Ethereum's September 2022 switch from crypto mining (proof-of-work) to a system called proof-of-stake, where users lock up ETH to secure the network instead of running power-hungry computers. It cut Ethereum's energy use by more than 99% overnight, one of the largest efficiency gains in the history of computing.
The latest upgrade called Glamsterdam will be activated in the second half of 2026 and aims to make the blockchain itself faster and cheaper. The name blends "Gloas," the consensus-layer component, with "Amsterdam," the execution-layer component, following Ethereum's tradition of pairing a star name with a past Devconnect host city.
What is actually changingGlamsterdam makes two changes to how Ethereum handles transactions.
It changes who controls the order. Every few seconds, Ethereum bundles transactions into a "block." Right now, a small group of specialist firms decides what goes into each block and in what order, and they route those blocks to the network through middlemen. That hands a few players the power to reorder transactions in ways that cost ordinary users money.
Glamsterdam builds a fairer process into Ethereum's own rules: whoever approves a block can no longer see or rearrange what's inside it, and the contents stay hidden until the block is final. Fewer middlemen, less room to game the order. This proposal is called enshrined proposer-builder separation, or ePBS (EIP-7732).
How Glamsterdam changes transaction ordering and processing. Graphic: TheStreet / Roundtable.
And it lets Ethereum do more at once. Today the network mostly processes transactions one after another. The upgrade lets it spot transactions that don't affect each other and handle them at the same time —think of it like opening extra checkout lanes instead of forcing everyone through one. More lanes means more transactions per block without pushing fees up. This change is known as Block-Level Access Lists (EIP-7928).
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Why this matters for DeFiFor anyone who trades on Ethereum, the ePBS change is the one to watch, because it targets a hidden cost baked into how the network runs today.
"Ethereum's Glamsterdam, viewed by many as Ethereum's most significant upgrade since The Merge, reworks how blocks are built so transactions can run in parallel, raising capacity without sending fees up," said Holly Atkinson, Chief Product and Technology Officer at 1inch, a decentralized trading platform.
The problem ePBS is built to fix sits in plain sight. As Atkinson explains it:
"Most validators don't build their own blocks. They outsource it to a handful of specialized builders through off-protocol, closed-source middleware (relays/MEV-Boost). Those builders see pending transactions and order them to extract value. For an ordinary user this shows up concretely as MEV on token trades, censorship/inclusion risk, and concentration risk."
MEV, short for maximal extractable value, is essentially how insiders skim value from ordinary trades, and it usually reaches users as a worse price when they trade on a decentralized exchange or run a token swap. ePBS, Atkinson said, "shifts control away from a small group of off-chain builders back to the protocol that actually custodies your ETH and tokens," and 1inch "already protects users from MEV impact by default." She called the upgrade "a credible step toward scaling L1 itself, not just via rollups, that reduces reliance on centralized block builders."
1inch is a decentralized trading platform that aggregates liquidity across more than a dozen blockchain networks, helping users find the best price for a swap while keeping custody of their own funds throughout the trade.
An upgrade a frustrated community has been demandingGlamsterdam arrives at a tense moment for the people who steward Ethereum.
For much of the past year, the Ethereum Foundation, the nonprofit that guides the network's development, has faced sustained criticism that it leaned too heavily on Layer-2 networks while letting the base layer stagnate.
Critics argued that pushing activity and fees onto rollups weakened ETH's own investment case, and that the Foundation put ideology ahead of competitiveness as rival blockchains gained ground. Prominent voices, including researcher Dankrad Feist and journalist Laura Shin, pressed versions of that complaint.
The pressure produced the most significant reorganization in the Foundation's history: a run of high-profile departures that some in the community called a brain drain, a leadership reshuffle, and a slimmed-down mandate. Even Ethereum co-founder Vitalik Buterin publicly questioned whether many of today's Layer-2s still fit the network's model.
Ethereum's price has not reflected much of that ambition. ETH traded around $1,879 on Wednesday morning, up roughly 5% on the day but still down about 40% from a year earlier, when it changed hands near $3,140. It remains far below its all-time high of nearly $5,000, set in August 2025.
The Ethereum (ETH) price broke out of a descending trendline that had capped it since the all-time high, while futures open interest climbed to $19.8 billion. ETH trades near $1,928, up 5.2% in the last 24 hours.
Derivatives positioning, liquidation data, and long-term chart structure now point in the same bullish direction. However, one missing ingredient still keeps the breakout unconfirmed.
Futures Traders Return as Open Interest Nears $20 BillionGlassnode data shows Ethereum futures open interest across all exchanges spiked to $19.8 billion on July 14. That is the highest reading since June 3, when a market-wide deleveraging event reset positioning.
Open interest measures the total value of outstanding futures contracts. Rising open interest alongside a rising price suggests new capital is entering the market rather than shorts simply covering.
ETH Open Interest. Source: GlassnodeThe metric had collapsed to approximately $15.5 billion in late June. Its sharp recovery indicates traders are returning to ETH derivatives with conviction. Elevated positive funding on Ethereum supports the same reading.
Whale trader Machi Big Brother reportedly opened a $24.3 million ETH long at 25x leverage, with liquidation set at $1,833.
A drop back below the June range would flip this signal and suggest the new positioning was short-lived.
Long Liquidations at a Yearly Low of 4% Point to a Short SqueezeThe composition of recent liquidations strengthens the bullish case. Ethereum futures long liquidations dominance fell to 4%, its lowest level in a year, according to Glassnode.
In plain terms, only 4% of liquidated positions were longs. The remaining 96% were short traders forced out as the price pushed higher.
ETH Long Liquidations Dominance. Source: GlassnodeStill, squeeze-driven rallies carry a caveat. Forced short covering can exaggerate upside moves, as the June 3 liquidations cascaded to exaggerate the downside. Spot demand must follow for the move to hold.
A return of dominance above 50% would indicate that longs are absorbing damage again and would weaken the momentum signal.
Ethereum Price Holds the Trendline From the 2022 BottomThe weekly chart shows why the current level matters so much. An ascending trendline drawn from the June 2022 bottom, respected throughout the previous bull market, held near $1,600 once again.
The bounce also occurred inside a long-term green demand zone that has served as support four times since early 2023. Moreover, the area coincides with the 0.786 Fibonacci retracement of the entire cycle at $1,754.
ETH weekly chart. Source: TradingviewThis triple confluence of trendline, horizontal support, and Fibonacci level makes the zone a structural line in the sand. The next major resistance sits far above, at the 0.618 Fibonacci retracement of $2,438.
ETH Price Prediction as the $2,000 Test LoomsOn the daily chart, Monday’s 6.5% green candle broke above a descending trendline in place since the all-time high. That line had rejected the ETH price five times before this breakout.
ETH daily chart. Source: TradingviewThe daily Relative Strength Index (RSI) confirms the shift in momentum. It broke out of its own descending trendline, drawn from July 2025, and now sits just below 65.
ETH daily RSI chart. Source: TradingviewOne warning sign remains. Volume has been declining during the recovery, so the breakout lacks confirmation from participation. Analysts watching the ETH/BTC ratio see early signs of a broader Ethereum comeback that could fill the missing demand.
Immediate resistance lies between $1,900 and $2,000. A confirmed daily close above that zone on rising volume could open the way toward $2,438, nearly 30% above the current price.
On the downside, $1,754 is the critical support. Losing it would expose the trendline near $1,600, and a weekly close below that level would invalidate the bullish structure entirely.
Either volume arrives to validate the breakout, or ETH returns to the zone that has saved it four times already.
