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HomeCryptoMARKETSAnother crypto company sells Bitcoin.

The ongoing crypto winter has forced Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy, to sell Bitcoin (BTC) twice this year.

32 Bitcoin for around $2.5 million during May 26-313,588 BTC for $216 million during June 29-July 5The company has sold Bitcoin for the first time after 2022. Now, another major digital asset treasury company has been forced to sell Bitcoin.

Trending on TheStreet Roundtable:Tesla sends a quiet but powerful message on BitcoinFarmers collateralize cows to secure loansAndrew 'Daddy' Tate crashes 50% since U.S. arrestThe Smarter Web Company sells a portion of Bitcoin stack The Smarter Web Company disclosed on July 23 that it sold 177.8909127 Bitcoin worth $11.68 million and used the proceeds from the sale to repay an $11.7 million convertible debt facility.

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Though a company selling Bitcoin during a period of crisis can be interpreted as a sign of falling confidence in the cryptocurrency, the company said it made the sale decision in preference for balance-sheet flexibility over equity dilution.

Otherwise, it would have to issue 7.71 million common shares, which would have diluted existing shareholders had the convertible been converted into equity instead.

"When we entered into Smarter Convert in August 2025, it provided an innovative alternative to traditional leverage," The Smarter Web Company CEO Andrew Webley said. "The structure enabled us to strengthen our balance sheet whilst maintaining flexibility during an early stage of our Bitcoin treasury strategy. As the Company has evolved, so too has our approach to capital allocation. Looking ahead, whilst we continue to recognise the potential benefits of both fiat and Bitcoin-denominated convertible instruments, we do not currently believe they represent the right capital solution for The Smarter Web Company."

It still holds 2,700 Bitcoin on its balance sheet.

BTC/USD, Source: Decibel

Bitcoin was exchanging hands at $63,886 at the time of writing, as per Decibel.

In brief Poolin Technology filed for Chapter 11 bankruptcy on July 22. The largest single debt, $163.7 million, is owed to about 11,700 users. Thor CALAP LLC has placed a $52 million stalking-horse bid for Poolin's two West Texas mining sites, setting the floor for a court-supervised auction. Poolin Technology Pte. Ltd., the Singapore-based company that once ran one of Bitcoin's largest mining pools, filed for Chapter 11 bankruptcy on July 22—the U.S. legal process that lets a company operate under court supervision while it reorganizes or, in this case, sells off its remaining assets and shuts down.

The filing, in the U.S. Bankruptcy Court for the District of New Jersey, covers Poolin alongside two U.S. affiliates, Lonestar Dream Inc. and Lonestar Taproot LLC. Court documents list roughly prepetition obligations of more than $100 million against less than $10 million in assets.

A mining pool lets individual Bitcoin miners combine their hashrate—the raw computing power machines burn through to solve the cryptographic puzzles that add new blocks to the blockchain—so the group wins rewards more often than any single miner could alone.

Poolin was founded in Beijing in 2017 by Zhibiao "Kevin" Pan, along with Fa Zhu and Tianzhao Li, all veterans of mining-hardware maker Bitmain, and it grew into one of the world's biggest pools. At its peak, the company controlled nearly a fifth of the network's global hashrate, before expanding into crypto lending and interest-bearing accounts through a product called Poolin Wallet.

The trouble started in September 2022, when Poolin froze withdrawals for Poolin Wallet and Pool Account users. The company said at the time it was "facing some liquidity issues," tied to a wave of withdrawal demand during that year's broader crypto crash. Rather than making customers whole, Poolin issued IOU tokens as placeholders for real Bitcoin, and those debts never got repaid.

Those unpaid IOUs are now the largest liability in the bankruptcy case. About 11,700 wallet holders are owed $163.7 million, according to a court declaration from Chief Restructuring Officer Michael DuFrayne. Poolin's Texas mining and hosting operations, run through Lonestar Dream, shut down entirely on July 10, and the company says it does not intend to resume.

To repay what it can, Poolin is auctioning its two West Texas sites, with Thor CALAP LLC offering a $52 million stalking-horse bid—an opening offer that sets the floor price other bidders must beat in a court-supervised sale. That amount covers only the physical mining infrastructure, not the frozen wallet balances, and falls well short of what users are owed. The Texas units had already piled up roughly $45.9 million in losses since they opened, plus another $8.8 million from selling equipment at discounted prices between fiscal 2023 and 2025.

Recovery for the 11,700 IOU holders now depends largely on what the Texas auction brings in, more than three years after their withdrawals were first frozen.

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The total crypto market cap has shrunk by 1.18% in the past 24 hours. The Crypto Market Fear and Greed Index sat at a score of 34, signaling fear was still prevalent in the market.

AMBCrypto reported that Bitcoin [BTC] saw its longest streak of spot ETF inflows in nine months. It pointed to increased demand and a potential shift in sentiment, but the streak was broken.

SoSoValue, the cryptocurrency research platform that aggregates macro market data, reported -$225.1 million in spot ETF net flows on Thursday, July 23.

The escalation in U.S.-Iran tensions and higher Brent crude prices coincided with the reversal in ETF flows, adding to the broader risk-off mood across markets.

Bitcoin was down 1.35%, and Ethereum down 1.85%. TOTAL3, which tracks the altcoin market cap excluding ETH, has fallen 1.17% in 24 hours.

Some BTC treasury firms were abandoning their accumulation model and actively looking to liquidate and completely exit crypto treasury strategies.

Liquidations and trend shift help explain why crypto is down today On July 19 and 20, short liquidations dominated crypto markets, measuring $305.68 million. By comparison, only $164.04 million in long liquidations occurred to start the week.

Since then, $489.268 million in long liquidations have occurred, as opposed to $205.13 million in short liquidations. In other words, traders who bet on continued upward momentum were being forced out of the market.

AMBCrypto had reported that the price bounce in recent days was accompanied by a lack of significant participation from new capital. Short-term holders continued to realize losses, and bears were still in control of the market’s direction.

Where Bitcoin goes, the rest of crypto tends to follow. Right now, that direction is southward.

Source: BTC/USDT on TradingView The higher timeframe price trend has been bearish since October 2025. The 4-hour chart was also bearish. The $67,292 swing high must be breached to flip this structure bullishly.

The bulls tried and failed to challenge the $67k resistance zone convincingly. The recent downturn is a result of buyer exhaustion and the prevalent bearish price structure.

If the current trend continues, the next impulse move downward could open the door to a retest of the $57,800 area if sellers remain in control.

Final Summary The crypto market saw a steady advance higher earlier this week, helped by bullish spot ETF flows and BTC momentum. This has taken an abrupt shift just as Bitcoin and Ethereum ran into key resistance zones at $67k and $1,920 respectively. Further downside is expected.

While XRP has corrected from the recent $1.16 high, new market data shows that demand in the spot market has continued to improve.

Specifically, buying activity across centralized exchanges has climbed to its highest level in eight weeks, suggesting that many investors are still accumulating XRP despite the latest price decline.

Notably, the latest data also show a growing gap between the spot and derivatives markets. Spot buyers have become more active, while traders in the perpetual futures market continue to favor selling. 

Spot Buying Reaches Its Highest Level Since June Data from July 23 shows that the All CEX Estimated Spot CVD climbed to about $388.6 million, its highest level since June 1. The increase shows a rise in aggressive buying across centralized spot exchanges, showing that buyers have returned to the market in greater numbers.

Meanwhile, the trend looks very different in the derivatives market. Notably, Binance Perpetual CVD remained deeply negative at around -$547.4 million, showing that perpetual futures traders continue to favor the sell side.

XRP CEX Spot CVD and Binance Perpetual CVD | CryptoQuant Also, on Binance, XRP open interest increased from roughly $198 million on July 8 to about $215.7 million on July 23, marking a rise of nearly 9%.

Higher open interest alongside a deeply negative perpetual CVD suggests that traders are opening new leveraged short positions instead of simply closing existing long positions. 

However, open interest alone cannot show the direction of every new position, so it does not tell the full story by itself.

Spot trading also picked up across several major exchanges rather than on just one platform. On July 21, Coinbase recorded around $157 million in XRP spot trading volume, compared with roughly $111 million on Binance. 

This increase suggests that stronger spot demand is spread across multiple exchanges instead of being driven by a single market.

XRP Must Hold Above $1.10 In the short term, XRP continues to trade within a tight range after holding the support around $1.10. Buyers have not yet managed to push the price back above the immediate resistance at $1.11, leaving the token stuck in consolidation.

The current situation suggests that a move below $1.10 could send XRP toward $1.08. On the other hand, a break above $1.11 could open the door for a move to $1.13.

Technical indicators also send mixed signals. The RSI stands at 50, a neutral reading that does not give either buyers or sellers a clear advantage. 

XRP Holding Support However, the MACD still shows a modest buy signal with a reading of 0.001, keeping the bullish case alive. Looking at the broader trend, XRP has gained more than 7% in July and still trades above long-term ascending triangle support. 

If buyers regain control, XRP first needs to break above $1.1642. A successful move beyond that level could open the way to $1.2318 and then $1.2950, with longer-term resistance sitting near $1.4344. For now, holding above $1.10 remains important if bulls want to keep the current recovery attempt alive.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Bitcoin (BTC) is edging higher on Friday, albeit gradually, after reclaiming support above $65,000. Meanwhile, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows. Ripple (XRP), on the other hand, holds above the pivotal $1.10, with its upside structurally constrained below $1.15.

Bitcoin ETFs renew outflows as the US-Iran war persistsThe United States (US) has conducted air strikes for a thirteenth consecutive night, with Iranian media reporting explosions in multiple cities, including Khorramabad, Jask, Ahvaz, and Bandar Abbas.

President Donald Trump stated he is weighing a “massive attack” on Iran and will soon determine whether to resume large-scale military operations. Iranian Foreign Minister Abbas Araghchi described the US action as “mindless aggression,” warning that Washington will now face a steeper price to secure an end to the conflict.

Meanwhile, risk-off sentiment is evident among institutional investors, who drew out roughly $225 million from US-listed spot Exchange-Traded Funds (ETFs) on Thursday, following seven consecutive days of inflows. According to SoSoValue data, cumulative inflows stand at $51.63 billion, with net assets at $78.82 billion, underpinning investors' long-term positive BTC outlook.

Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs continue to recover, with Thursday’s inflows falling to $26 million, from Wednesday’s $73 million. Cumulative inflows edged higher to $11.25 billion from $11.23 billion over the same period, while average assets under management stand at $10.32 billion.

Ethereum ETF flows | Source: SoSoValueAppetite for XRP ETFs has notably lagged that for Bitcoin and Ethereum, with activity remaining muted on Wednesday and Thursday. Looking back, inflows totaled $2.5 million on Monday and roughly $6 million on Tuesday.

According to SoSoValue, cumulative inflows are steady at $1.49 billion, with net assets averaging $1 billion, underscoring investors’ long-term interest in XRP investment products.

XRP ETF flows | Source: SoSoValue“The cryptocurrency market is navigating one of its most complex phases of the year. Bitcoin is no longer driven solely by capital flows or technical indicators; instead, its price action has become a direct reflection of an increasingly intertwined macroeconomic and geopolitical landscape, Simon-Peter Massabni, Head of Business Development at XS.com, said in a comment.

Price analysis: Bitcoin holds higher support Bitcoin trades above $65,000, holding a mildly constructive but still capped tone as price sits above the 50-day Exponential Moving Average (EMA) at roughly $65,150 and the Bollinger Bands’ middle layer near $64,312, while remaining well below the 100-day and 200-day EMAs at about $67,967 and $73,733 respectively.

This configuration suggests an early recovery phase rather than a clean bullish trend, with the Relative Strength Index (RSI) around 55 on the daily chart and the Moving Average Convergence Divergence (MACD) histogram staying comfortably positive, hinting that upside momentum is improving but not yet strong enough to challenge the broader overhead trend filters.

BTC/USDT daily chartOn the topside, initial resistance appears at the upper Bollinger Band around $66,489, where volatility caps the recent bounce, followed by the 100-day EMA near $67,967 and then the more meaningful 200-day EMA around $73,733 as a major medium-term barrier. On the downside, immediate support is provided first by the 50-day EMA at approximately $65,150, with further demand expected at the Bollinger middle band around $64,312. A deeper setback toward the lower band near $62,134 would likely be needed to threaten the nascent constructive bias on the daily timeframe.

Altcoins outlook: Ethereum and XRP show signs a bullish turnaround Ethereum trades at $1,892, holding a neutral-to-bullish tone as price stays above the 50-day EMA near $1,832 and the SuperTrend support around $1,741, but still below the higher-order 100-day and 200-day EMAs. This configuration suggests an ongoing recovery phase within a broader corrective structure, with dip-buying interest emerging above the mid-$1,800s.

The MACD indicator remains in positive territory but has been easing, while the RSI around 58 points to constructive yet not overextended upside momentum.

ETH/USDT daily chartOn the topside, initial resistance appears at the 100-day EMA close to $1,936, and a sustained break above this level would expose the 200-day EMA near $2,183 as the next bullish objective. On the downside, immediate support is defined by the 50-day EMA at roughly $1,832, with a deeper pullback toward the SuperTrend line around $1,741 likely to attract buyers if the current advance pauses or corrects.

XRP, on the other hand, trades at $1.11. The pair remains in a broader bearish context with price holding below the 50-day, 100-day and 200-day EMAs, keeping rallies capped despite the recent rebound from sub-$1.10 levels.

The Parabolic SAR at $1.07 sits underneath spot and suggests nearby trend-follow support, while the RSI hovers around the neutral 50 line on the daily chart, indicating a lack of strong directional conviction as momentum consolidates. The MACD histogram remains marginally positive but is easing, hinting that bullish pressure is waning beneath overhead averages.

XRP/USDT daily chartInitial resistance aligns with the 50-day EMA at $1.14. A daily close above this level would be needed to open the way toward the 100-day EMA at $1.23, with the 200-day EMA higher up at $1.43 reinforcing the medium-term bearish structure. On the downside, immediate support is provided by the Parabolic SAR level at $1.07. A break below this floor would likely expose the pair to a deeper retracement, reinforcing the prevailing downside bias as long as price holds beneath the key EMAs.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

Japanese spot Bitcoin (CRYPTO: BTC) ETF market could grow to around $18.4 billion by fiscal 2028 under a bullish adoption scenario.

In a July 24 morning edition, Nikkei noted that the estimate is based on the size of Japan’s household financial assets, its investment fund market, participation in the country’s tax-advantaged NISA investment accounts, and existing domestic demand for cryptocurrencies.

Japanese households hold roughly $14.6 trillion in financial assets.

An $18.4 billion Bitcoin ETF market would account for only about 0.13% of that, suggesting that even a relatively small shift in household portfolios could create a sizable market.

It would also represent around 1% of Japan’s public equity investment fund market, which exceeds $1.8 trillion.

The estimate assumes three primary sources of investment demand.

The first would come from existing cryptocurrency investors seeking BTC exposure through a regulated and familiar investment product; the second would be new retail investors; and lastly, wealthy individuals, corporations, and institutional investors making portfolio allocations to Bitcoin.

Access Could Be The Key CatalystThe central argument behind the $18.4 billion scenario is not that Japanese investors will suddenly make large speculative allocations to Bitcoin. Rather, ETF approval could unlock demand by making the asset easier to purchase and hold through financial systems investors already use.

Japanese investors could gain Bitcoin exposure without directly managing wallets, seed phrases, or crypto exchange accounts. That accessibility could be particularly important for institutions and corporations that require regulated custody, reporting and risk-management structures before allocating capital.

In early July, Japanese crypto exchange SBI VC Trade highlighted that registered accounts surpassed 2 million, indicating rising domestic demand for digital assets. The firm said Japanese companies are also increasingly using Bitcoin and XRP (CRYPTO: XRP) in shareholder benefit programs.

Image: Shutterstock

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Eight months ago the XRP ETFs launched faster than any product since Ethereum. The bid has since decayed 99%, from $200 million weeks to zero-flow days, leaving $1.49 billion invested, $997 million remaining, and a recovery thesis outsourced entirely to a Senate vote. Here is the full autopsy of a bid, and what its flatline actually prices.

Summary

US spot XRP ETFs launched in November with $667 million in their first month, reaching $1 billion faster than any crypto product since Ethereum’s funds, on an eight-week inflow streak that ran even while Bitcoin funds bled. The bid then decayed by roughly 99%: weekly flows fell from above $200 million to low single-digit millions, the streak ended July 13, and July’s tape shows zero-flow days punctuated by one $7.29 million outflow, the largest since March. The wreckage is precise: $1.49 billion in cumulative inflows now marks against roughly $997 million in net assets, an unrealized deficit near $493 million, with 82% of assets concentrated in three funds and several products flatlined entirely. The one institutional trophy, Goldman Sachs’s $153.8 million position across four funds, is a December-dated 13F snapshot that Bloomberg analysts read as trading-desk facilitation, inside a complex that remains 84% retail-held. The flows have now stabilized at approximately nothing, which the optimistic read calls a floor, and the recovery case has converged on a single external event: the CLARITY Act vote whose odds trade near a coin flip this week. There is a specific moment in the life of every investment product when its story stops being about demand and starts being about anatomy, and for the US spot XRP ETFs that moment can be dated: Monday, July 13, when the daily flow printed zero and an eight-week inflow streak, the product class’s last living narrative, quietly ended. What launched in November as the fastest-growing crypto fund complex since Ethereum’s, $667 million in month one, a billion dollars faster than anyone forecast, institutional validation in fund form, now trades as a case study. The buyers did not rotate, rebalance, or pause. They stopped: from weeks above $200 million to weeks near $2 million, from streak to zero-days, from launch euphoria to a July whose single best session, $6.78 million, amounts to one percent of the early pace. What remains is $1.49 billion of invested capital marking against $997 million of assets, three funds carrying 82% of everything, and a recovery thesis that no longer references the product at all, only a Senate vote. This piece is the full anatomy: how the bid died, what the wreckage precisely looks like, what the lone institutional trophy in the filings actually shows, and what the flatline, honestly read, prices for the asset underneath it.

The decay curve, dated The complex’s eight months divide into three phases so distinct they could belong to different products.

Phase one, the launch bid, ran from November into the winter: $667 million in the first month across seven issuers, the fastest accumulation to $1 billion since Ethereum’s funds, weekly prints above $200 million, and the statistic the marketing decks will never retire, an inflow streak that persisted through weeks when Bitcoin ETFs bled, which was read at the time as evidence of a distinct, durable XRP allocator base. The reading had support: the products launched into the afterglow of the SEC’s surrender, the commodity classification, and the first wave of bank-desk research initiating coverage with conditional price targets in the double digits.

Phase two, the decay, occupied the spring: weekly flows stepped down from nine figures to eight to seven, May still collected over $100 million for the month, and by June the run-rate had thinned to low single-digit millions per week, a decline of roughly 99% from peak that no single event explains and one variable tracks perfectly, the token’s price, which fell from above $2.40 in January to the $1.10s, converting every earlier allocation into a loss and every allocator’s quarterly review into an uncomfortable meeting. Fund flows follow performance with a lag in both directions; the launch streak was the up-lag, and the decay was the down-lag arriving on schedule.

Phase three, the flatline, is July: six sessions of exactly zero flows in the month’s first half, a $7.29 million single-day outflow on July 9, the largest since March, the streak’s formal end on July 13, then a stretch from July 10 through July 20 of zeros and small positives, crowned by the month’s best day, $6.78 million on July 16, driven by two issuers’ desks. The freshest coverage frames the stabilization as survival, the product has not seen an outflow day since July 9, and the framing is technically true and proportionally absurd: the bid that defined the launch is not resting, it is absent, and its absence has become stable. That is what the anatomy shows. The interesting questions are in the tissue.

The wreckage, itemized Four numbers, current as of this week’s data, describe the complex more honestly than any narrative.

$1.49 billion against $997 million. Cumulative net inflows since launch stand near $1.49 billion; total net assets stand near $997 million, roughly 1.45% of XRP’s market capitalization, with about 971 million XRP in custody. The gap, approximately $493 million, is the unrealized loss the allocator base collectively carries, the arithmetic consequence of buying a token averaging well above $1.50 that now trades near $1.10. Every future flow decision the complex’s holders make is made against that deficit, which is the single most important fact in any forecast of the flows resuming: the marginal buyer is being asked to average down into a product whose existing buyers are 33% underwater on invested capital.

82% in three funds. Bitwise holds $312.8 million in assets on $498.3 million of cumulative inflows; Canary $253.2 million on $467.0 million; Franklin $252.2 million on $415.6 million. Together, the top three hold roughly 82% of complex assets, which means the seven-fund complex is functionally a three-fund market with a long tail of products printing zeros. Category-level flow headlines obscure this: an inflow day increasingly means one or two distribution desks had a decent Thursday, and a diversified institutional bid, the launch thesis, would not produce this shape.

84% retail-held. The complex’s ownership base, per the issuer-side analysis that accompanied the spring’s institutional reporting, remains 84% retail, against 48.8% institutional participation in the comparable Solana products, a gap that quantifies how much of the launch narrative, the institutions are here, was distribution, not description. Which frames the trophy correctly.

The Goldman position, read properly. Goldman Sachs’s 13F disclosed $153.8 million across four XRP funds, roughly $40 million in Bitwise, $38.5 million in Franklin, $38 million in Grayscale, $36 million in 21Shares, making it the largest disclosed institutional holder, accounting for 73% of the top 30 institutions’ combined $211 million. The number did real narrative work all spring, and its caveats are the anatomy lesson: it is a December 31 snapshot, disclosed in March, of positions that may not exist today; Bloomberg’s analysts read the four-fund construction as consistent with trading-desk facilitation and client positioning instead of proprietary conviction; and as this publication’s own guide to how to read the Goldman position argues, the form is a rear-view mirror with a 45-day delay, structurally incapable of showing whether the bank held, added, or exited through the subsequent drawdown. The largest institutional XRP position on record is, read strictly, evidence that Goldman’s clients wanted exposure in December. The flows since are evidence of what everyone wanted after.

The geography of the remaining bid One more layer of the anatomy deserves its own examination, because the aggregate US flow numbers conceal a compositional fact with real information in it: through the American flatline, the marginal bid for exchange-traded XRP exposure migrated abroad.

Through the spring decay, European venues carried a share of global XRP product flows out of proportion to their size, with Swiss and broader European ETP wrappers at times representing the substantial majority of weekly net inflows worldwide while the US complex printed its zeros. The absolute sums are modest, European crypto ETPs are an older, smaller, steadier market, but the composition matters for what it falsifies and what it suggests. It falsifies the strongest form of the exhaustion reading: if the asset’s entire allocator universe were fully purchased, the European bid would have flatlined alongside the American one, and it did not. And it suggests where the marginal buyer actually lives: in jurisdictions where the asset’s legal status was never contested, where MiCA-era frameworks settled classification questions years earlier, and where the products consequently trade as ordinary alternatives allocations, not as bets on a Senate calendar.

Read that way, the geographic split becomes the cleanest natural experiment available on the outsourced thesis. The American flows died in the jurisdiction where the asset’s status remains hostage to legislation; the European flows persisted, modestly, in jurisdictions where it does not. If legal permanence is truly the binding constraint on institutional allocation, the CLARITY experiment has already run abroad, and its result, steady but unspectacular demand, prices the upper bound of what passage realistically unlocks: not the JPMorgan-forecast flood, but a normalization to the European pattern, mid-single-digit millions weekly, compounding quietly, unheroically, forever. That is a real bull case, and it is a fraction of the one being marketed.

The alternative reading restores the American market’s exceptionalism: US wealth-management distribution is an order of magnitude deeper than Europe’s, the RIA channel that turned Bitcoin’s ETFs into a $52 billion complex has no European equivalent, and the launch month’s $667 million showed what that distribution can move when it has a story to sell. On this reading, Europe measures the floor of post-CLARITY demand and America’s launch month measured the ceiling, and the truth, as usual, books a room between them. Either way, the geographic ledger deserves a place in every flow analysis this complex receives, because it is the one dataset showing what XRP demand looks like when Washington is not the variable, and it has been quietly reporting that answer, in Swiss francs, all year.

The regulated-channel counterpoint One dataset complicates the pure decay story, and honesty requires it: while the spot complex flatlined, the regulated derivatives channel set records.

CME’s XRP futures built to a peak of $1.4 billion in open interest with 29 large open-interest holders, a record for the venue, even as total XRP derivatives open interest across all venues collapsed from its $10 billion peak by margins reported between 75% and 96%, a deleveraging that wiped out the offshore, retail-levered complex. The split matters because the two channels answer different questions: aggregate open interest tracks speculative leverage, which is gone, while CME positioning tracks the institutions that clear through Chicago, which grew through the wreckage. The honest synthesis is narrower than either headline: the levered retail market deflated, a smaller regulated market matured, and neither flow bought spot tokens, which is why the ETF shelf and the price both starved while the derivatives venue celebrated. Institutional infrastructure and institutional demand are different things, a distinction this asset’s whole history keeps teaching. For the underlying distribution picture, crypto.news has also mapped the supply map under the products.

What the flatline prices Strip the anatomy to its meaning and three readings compete, with the tape currently endorsing the bleakest.

The floor reading, the optimists’ case, holds that the shakeout is complete: outflows never cascaded, the post-July 9 tape shows zero net redemption, the deficit is carried rather than capitulated, and a stabilized base at $1 billion of assets is the platform a catalyst builds on. Its evidence is real, the complex genuinely did not unwind the way GBTC-era products did, and its weakness is that a floor with no bid above it is just a ledge.

The exhaustion reading holds that the launch consumed the entire natural buyer base: the crypto-native allocators, the RIA early adopters, and the bank desks servicing client curiosity all bought in the first two quarters, at prices 40% above the current market, and no second cohort exists at any price the first cohort’s losses will allow advisers to recommend. On this reading the flatline is not a floor but a completed distribution, and the zero-days are what a fully-sold product looks like.

And the outsourced reading, the one the complex’s own defenders now lead with, holds that the flows return when Washington acts: legal permanence unlocks the institutional allocation the launch never actually contained, the 84% retail share inverts, and the JPMorgan-style first-year forecasts the complex undershot get a second life under a market-structure law. This is the reading that matters, because it is the one being priced, and its honest form is uncomfortable: it concedes the product failed to generate durable demand on its own and converts the entire recovery case into a claim about one bill, whose cloture count stands unresolved this very week, whose passage odds trade near a coin flip, and whose own conditional structure, as this publication’s analysis of the conditional targets riding these flows showed, was already the load-bearing wall under every double-digit XRP forecast. The ETF complex, the price targets, and now the flow-recovery thesis have all converged on the same single point of failure. That is not diversification of catalysts. It is concentration, in a legislature, measured at 41% on Polymarket, and the flatline is what an asset looks like while it waits on it.

What to watch The weekly prints against the zero line. The complex has proven it can avoid outflows; the open question is whether anything above $10 million a week ever returns without a legislative trigger. Sustained mid-eight-figure weeks would falsify the exhaustion reading on their own.

The concentration ratio. Watch whether the three-fund share of assets rises above 82%, consolidation continuing, or whether the tail products show life, the only clean signal of a broadening buyer base instead of two sales desks working.

The CLARITY binary, and the day after. Passage would run the outsourced thesis’s experiment in real time: the flows either arrive within weeks, validating everything, or they do not, which would be the most damaging data point in the asset’s institutional history, because it would exhaust the last explanation. Failure of the bill runs the mirror experiment on the deficit’s holders. That is the event the recovery thesis waits on.

The Q1 13F cycle’s ghosts. The May filings covering the drawdown quarter will show whether Goldman and the top-30 cohort held through the decline. A largely intact institutional roster supports the floor reading; a vanished one completes the anatomy.

Eight months ago the XRP ETFs were the proof that institutional demand existed. The anatomy shows what they actually proved: that distribution existed, that a launch window monetized it, and that demand, the durable kind that buys drawdowns, was never located. The complex now holds $997 million, a $493 million scar, and one hypothesis left to test, scheduled for a Senate floor that has not yet set the time. Products usually die of redemption. This one’s fate is stranger: fully built, fully priced, and waiting, with the rest of its asset class, for Washington to tell it whether the buyers were ever real. For context, crypto.news has explained he flow machinery itself.

Frequently asked questions What happened to the XRP ETF inflows? They decayed roughly 99% from launch. The products drew $667 million in their first month from November and sustained an eight-week inflow streak, but weekly flows fell from above $200 million to low single-digit millions by summer. The streak ended July 13, July logged six zero-flow sessions and a $7.29 million outflow day, and the month’s best session brought just $6.78 million.

How much money is in the funds now, and what is the loss? Cumulative net inflows stand near $1.49 billion, while total net assets are roughly $997 million, about 1.45% of XRP’s market capitalization, with approximately 971 million XRP in custody. The gap of roughly $493 million represents unrealized losses on invested capital, reflecting purchases made at substantially higher token prices than the current $1.10 area.

Which funds dominate the complex? Three of seven: Bitwise with $312.8 million in assets, Canary with $253.2 million, and Franklin with $252.2 million, together roughly 82% of all complex assets. The remaining products frequently print zero daily flows, meaning category-level inflow headlines usually reflect activity at one or two distribution desks, not broad-based demand.

Does Goldman Sachs’s position change the picture? Less than headlines suggested. Goldman’s $153.8 million across four funds, disclosed in its Q4 2025 13F, made it the largest institutional holder, about 73% of the top 30 institutions’ combined exposure. But the filing is a December 31 snapshot published in March, Bloomberg analysts read the construction as trading-desk facilitation rather than directional conviction, and the complex overall remains 84% retail-held.

How does the CME futures record fit the story? As a counterpoint about a different market. CME’s XRP futures reached a record $1.4 billion in open interest with 29 large holders even as total XRP derivatives open interest collapsed as much as 96% from its $10 billion peak. The regulated channel matured while offshore leverage deflated, but neither development bought spot tokens, which is why the ETF flows and the price starved simultaneously.

Is the recent stabilization a positive signal? It is the debated question. Since the July 9 outflow, daily flows have been zero or slightly positive, no redemption cascade has occurred, and the deficit is being carried rather than capitulated, the floor reading. The skeptical reading calls the same tape exhaustion: the natural buyer base fully purchased during launch and no second cohort exists at current prices. The flatline is consistent with both until something moves.

Why does everything now depend on the CLARITY Act? Because every other catalyst has been consumed. The SEC resolution, the launches, and the bank coverage all occurred, and the flows died anyway, leaving legal permanence as the last untested explanation for why institutional allocation has not arrived. The recovery thesis for the flows, the analyst price targets, and the asset’s broader institutional case have converged on the same legislative binary, currently priced near a coin flip.

What should investors watch next? Weekly flows against the zero line, with sustained mid-eight-figure weeks as the falsifier of the exhaustion reading; the three-fund concentration ratio, for any sign of a broadening base; the Q1 13F filings covering the drawdown quarter, to see whether the institutional roster held; and the CLARITY vote itself, whose aftermath in either direction runs the decisive experiment on whether the buyers return. This is not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Flow figures and asset values change daily and reflect data available at the time of writing. Nothing here is a recommendation to buy, sell, or hold any asset or fund. Always do your own research. Information is accurate as of July 24, 2026.

The XRP ecosystem has welcomed over $800 million worth of distributed real-world assets this year amid the growing tokenization trend on the network.

The tokenization market has continued to grow in 2026, with its total value now exceeding $410 billion. Current data puts the market at $410.70 billion, made up of $36.72 billion in distributed asset value and $373.98 billion in represented asset value.

Growth has been especially strong in the distributed asset segment. At the beginning of the year, distributed asset value, excluding stablecoins, stood at $25.39 billion. It has since risen to $36.72 billion, as interest in tokenization has gained momentum throughout the year.

XRPL Adds Over $800 Million in Distributed RWA The XRP Ledger has also benefited from the growing interest in tokenized assets. As more attention has moved toward the sector, the network has expanded the value of assets issued directly on the ledger.

Data shows that the XRP Ledger now holds $1.319 billion in distributed asset value when stablecoins are included. Without stablecoins, the figure stands at just $323.18 million.

The network began 2026 with $518 million in distributed real-world assets. Since then, that figure has climbed to $1.319 billion, meaning the XRP Ledger has added exactly $801 million in distributed RWAs this year. The increase shows the network’s growing role in the broader tokenization market.

Distributed RWA on XRP Ledger RLUSD Leads the Growth Ripple’s stablecoin, RLUSD, has driven most of the increase in distributed assets on the XRP Ledger. At the start of the year, RLUSD had a market capitalization of $235 million. It has since grown to $896 million, adding $661 million in value during 2026.

Ripple has supported this growth by increasing RLUSD minting on the XRP Ledger while burning more of the stablecoin on Ethereum. As a result, RLUSD now makes up 67.96% of the XRP Ledger’s total distributed asset value.

The stablecoin ecosystem on the network has also continued to expand. Combined stablecoin market capitalization on the XRP Ledger has reached $995 million, bringing it close to the $1 billion mark. 

Alongside RLUSD, Braza USDB contributes $69.44 million, BBRL accounts for $12 million, and USDC adds $5.8 million, with several other stablecoins making up the remainder. These assets have played an important role in increasing the ledger’s distributed asset value.

Total RWA on XRP Reaches $5.35 Billion The XRP Ledger’s tokenized asset ecosystem extends beyond distributed assets. When represented asset value is included, the network now supports $5.35 billion in real-world assets, including stablecoins.

Several tokenized products account for much of that value. The largest is JMWH from Justoken, which is worth $2.229 billion. RLUSD follows with $876 million, while the Ondo Short-Term US Government Bond Fund contributes $222 million. The ASENA FIF – Single Tranche product also represents a significant share with $215.7 million.

These figures confirm how quickly the XRP Ledger’s tokenized asset ecosystem has expanded this year. RLUSD has led the growth in distributed assets, while several large tokenized financial products have strengthened the network’s represented asset value.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

XRP could be repeating the same price pattern that came before its massive rally in the 2017/2018 market cycle. 

Latest market data suggests the asset is again moving within a symmetrical triangle, similar to the structure that eventually led to a remarkable 66,000% gain and pushed XRP to $3.31 nine years ago.

The first version of this symmetrical triangle played out over several years. Specifically, it started after XRP fell from its $0.0614 high in December 2013 and continued until the breakout in March 2017. 

Once XRP broke above the pattern, an impressive rally ensued. The token climbed more than 66,000%, rising from around $0.005 in March 2017 to a peak of $3.31 in January 2018.

XRP Has Formed A Bigger Triangle The current symmetrical triangle is larger and took much longer to develop than the previous one. Unlike the first pattern, this one has formed over an entire market cycle.

This second triangle started forming after XRP dropped from its $3.31 peak in January 2018. The asset remained inside the pattern for years before finally breaking above the upper resistance line. 

XRP broke above the triangle’s main resistance line during the Trump-led November 2024 rally. The breakout triggered a strong move higher, sending the asset from about $0.5 to $3.4 by January 2018. After the rally, XRP pulled back before climbing again to a new all-time high of $3.6 in July 2025.

XRP Triangle Structure Notably, the rally did not continue immediately after reaching that peak. Instead, XRP entered a deep correction that brought it back toward the previous breakout area and rising macro support. This phase represents an important test of the long-term structure, as XRP currently remains in this broader downtrend.

RSI Shows Oversold Conditions Despite the ongoing weakness, one key momentum indicator has moved into an area that previously marked strong accumulation zones. 

Notably, the monthly Relative Strength Index (RSI) has dropped into oversold territory at 41.85, near levels where XRP has historically attracted long-term buying interest.

Currently, the price remains weak, market sentiment has become exhausted, and much of the previous rally has faded. 

However, the broader breakout structure has not been invalidated. Importantly, traders should prepare for continued volatility, more testing of support, and a difficult path back upward instead of an immediate recovery.

History Suggests a Key Support Level XRP’s current situation resembles what happened after the March 2017 breakout. Following that breakout, XRP dropped to $0.0075 in April 2017. The sudden decline brought the price back to the upper trendline of the triangle, allowing it to complete a successful breakout retest.

After finding support there, XRP resumed its rally and eventually reached $3.31 by January 2018. If buyers defend the present support area this time, the decline could become a normal post-breakout reset instead of the beginning of a larger structural breakdown.

The most important support zone now sits between $0.70 and $0.83, with $0.82 standing out as the key level. This area lines up with the upper trendline of the symmetrical triangle. Holding above that range would help XRP stay above the breakout level and keep the long-term bullish structure intact.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

XRPL Commons has introduced a structured three-track grants program designed to boost developer engagement and support innovation across the XRP Ledger (XRPL) ecosystem. This initiative aims to empower open-source developers, startups, and established blockchain projects as XRPL continues to expand its reach and technological capabilities.

Supporting ecosystem buildersEstablished as a non-profit, XRPL Commons works to advance the XRPL environment by providing education, incubation, funding, and ecosystem support for developers worldwide. Since 2017, total investment in XRPL ecosystem projects has crossed $550 million, with XRPL Commons playing a significant role in nurturing talent and supporting promising initiatives.

The organization reports that the funding landscape has shifted from a centralized model to a collaborative approach, where multiple independent groups come together to back builders on the ledger. After training hundreds of developers, running The Aquarium incubator since 2023, and launching the Glow initiative for rewarding open-source contributions, XRPL Commons now combines these efforts into a formal, multi-stage grants program for all stages of project development.

Three-track grants program detailsThe first track, Glow, rewards developers for completed open-source contributions to the XRPL ecosystem. Supported work includes developer tools, infrastructure improvements, documentation, security enhancements, and protocol development. Glow applications open quarterly and are planned through December 2026. Since launching in October 2025, Glow has already funded 11 projects covering topics such as node management, transaction analytics, and advances in post-quantum cryptography.

Mini dictionary: Post-quantum cryptography, a field of cryptography focused on developing algorithms that are secure against the potential capabilities of quantum computers. Its goal is to protect sensitive information even in a future where quantum computing could undermine standard cryptographic methods.

The second track targets early-stage teams building new applications on XRPL. This stage includes Make Waves, a 90-day competition that recognizes projects achieving the strongest user engagement and on-chain activity. The Aquarium, a nine-week incubator program, extends its reach internationally with online participation, offering technical mentorship and business guidance. Early Stage Grants deliver milestone-based financial support for projects already running on XRPL testnet or mainnet, focusing on teams that can demonstrate measurable adoption and progress.

Boosting enterprise adoption and network expansionThe third grant track serves established blockchain products integrating XRPL infrastructure. For example, LOBSTR, a major wallet in the Stellar ecosystem, recently integrated XRPL following a strategic partnership with XRPL Commons. This move connects over 1.5 million LOBSTR users directly to the XRPL network, expanding their access to its features.

XRPL Commons highlights that these integrations are driven by the ledger’s enterprise-ready architecture, offering a native decentralized exchange that operates without MEV or front-running, compliance-friendly Permissioned DEX capabilities, integrated payment features, escrow, and cross-currency settlements. Transaction finality is achieved in 3–5 seconds, and fees remain well below one cent, providing developers and enterprises with a low-cost, high-speed platform for financial applications.

XRPL FeatureDescriptionNative DEXNo MEV or front-runningPermissioned DEXBuilt-in compliance for regulated marketsTransaction Finality3–5 secondsFeesFractions of a centEscrow & Payment ChannelsSupport for programmable payments and settlementsRecent growth within the XRPL ecosystem is supported by Messari’s Q1 2026 report, showing 3.7 billion transactions processed and a 35.3% quarter-over-quarter rise in daily transaction volume to 2.48 million. Tokenized real-world assets on the ledger reached a record $2.25 billion, reflecting a 124.1% increase over the previous quarter and demonstrating mounting institutional interest in the platform.

Additional ecosystem partnerships have fueled momentum. Alongside LOBSTR, RedotPay recently launched an RLUSD card powered by XRPL in more than 100 countries. This card allows users to obtain stablecoin-backed credit without having to liquidate their XRP holdings.

XRPL Commons points to expanded enterprise adoption and new funding initiatives, saying that these three tracks offer builders—from individual developers to enterprise-scale products—a pathway to accelerate innovation and adoption on the XRP Ledger.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ripple has introduced Ripple Mint, a new platform designed to help institutions mint, redeem, bridge, and manage RLUSD—the company’s stablecoin—through both a user interface and API integrations. This move aims to bolster RLUSD’s significance in tokenized finance as the trend toward automated treasury workflows gathers pace.

Ripple Mint and RLUSD integrationAccording to Ripple, current RLUSD institutional users already have access to Ripple Mint and its suite of features. The launch is positioned as a key step in providing essential infrastructure for major financial firms, enabling real-time transaction visibility and seamless integration with their existing treasury operations.

The host of Crypto Sensei, a cryptocurrency-focused channel, noted that the platform’s automation and transparency are intended to help accelerate the uptake of digital asset infrastructure in traditional finance circles. Ripple’s focus is to make RLUSD a central settlement tool for tokenized assets and funds, offering liquidity beyond the traditional exchange-traded stablecoin model.

BNY Mellon’s role in stablecoin reservesBNY Mellon serves as custodian for RLUSD’s underlying cash and Treasury-backed reserves. The bank, one of the world’s largest custodians, has extended its digital asset settlement infrastructure to support Ripple’s stablecoin ambitions and broaden the access of its institutional network to the tokenized finance sector.

With approximately $54 trillion in assets under custody or administration, BNY Mellon accounts for more than 20% of the world’s investable assets. Its partnership with Ripple reflects an ongoing shift as established banking institutions explore digital asset models and custody solutions.

Mini dictionary: BNY Mellon is a global bank and financial services company known for its asset servicing, investment management, and digital custody offerings, playing a key role in financial market infrastructure.

Tokenized treasuries and always-on marketsWhile tokenized Treasury settlement products are growing, they remain relatively small compared to the traditional bond market. U.S. Treasuries outstanding exceed $30 trillion, while the current market for tokenized Treasury products was estimated at around $7.4 billion.

The push for “always-on” markets aims to make Treasury, collateral, and credit transaction infrastructure available 24/7. In this setting, RLUSD could operate as a cash-equivalent form of settlement liquidity for tokenized assets, facilitating round-the-clock operations rather than functioning solely as a stablecoin for exchange trading.

In the pursuit of continuous settlement, RLUSD is positioned to support the liquidity needs of tokenized funds and Treasury instruments, potentially transforming it from a traditional stablecoin into an institutional-grade settlement solution.

Institutional applications and XRP-backed receiptsCrypto Sensei indicated that Ripple Prime, the company’s institutional digital asset platform, has reportedly begun issuing depository receipts backed by XRP. This structure lets institutions post XRP as collateral and, in return, access dollar-denominated credit. Such a mechanism makes it possible for institutions to gain trading exposure, including to CME futures, without needing to directly sell their XRP holdings.

Some financial institutions face restrictions on holding crypto assets directly. The creation of receipts representing XRP held in custody could allow these firms to manage exposure to digital assets through traditional portfolio systems. The current scale and list of official counterparties for this initiative have not been disclosed publicly.

Mini dictionary: Depository receipts are transferable financial instruments that represent ownership of securities or assets held by a custodian, allowing institutional investors to gain indirect exposure to underlying assets.

Some institutional desks may not have the regulatory clarity required to directly hold crypto, so XRP receipts facilitate access and credit without breaching internal policies.

XRP ETF exposure growsThe analyst also cited an uptick in U.S. spot XRP ETF activity, which is approaching $1 billion in assets under management. Current figures suggest these ETFs are about 23 million XRP away from surpassing that milestone, highlighting increasing institutional interest in XRP-based investment products.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

XRP Price Falls as CLARITY Act Nears Make-or-Break Deadline: What’s Next?

Table of contents

Page Last Reviewed: July 24, 2026

Most major cryptocurrencies are trading lower on July 24, 2026, with Bitcoin down 0.85% to $65,104.61 and sharper declines across Ethereum, XRP, and Solana, all off more than 2%. Two forces are compounding today: a broader risk-off move across financial markets tied to rising oil prices and escalating US-Iran military tensions, and fading confidence in the CLARITY Act’s path through the US Senate, with prediction-market odds for 2026 passage falling to 38% from 46% just a day earlier.

Key Takeaways Crypto is trading broadly lower today, with Bitcoin down 0.85% and sharper declines of more than 2% across Ethereum, XRP, and Solana. Rising oil prices tied to escalating US-Iran military tensions have pushed Treasury yields higher and pressured risk assets broadly, including crypto and equities like the Nasdaq. The CLARITY Act’s Senate outlook has darkened, with prediction markets cutting implied 2026 passage odds to 38% after Senate Democrats criticized the latest draft’s ethics and consumer-protection language. Dogecoin (DOGE) is down more sharply than other majors today, continuing its pattern of amplifying broader market moves in both directions. Not every asset is down — Monero (XMR) remains up sharply for the week, a reminder that today’s decline isn’t uniform across the entire market. Today’s Main Drivers Macro pressure and geopolitical risk. Oil prices have surged toward $88.60 a barrel amid escalating US military action linked to Iran, pushing Treasury yields higher and dampening risk appetite across both crypto and equities — the Nasdaq fell over 2% this week on the same pressures. This kind of broad risk-off move tends to hit crypto alongside, not separately from, traditional risk assets.

CLARITY Act uncertainty deepens. The bill’s Senate outlook, which looked genuinely promising just days ago on reports of a White House ethics-package agreement, has darkened after Senate Democrats criticized the latest draft as insufficient on ethics and consumer protections. Senate Majority Leader John Thune has acknowledged the bill will likely miss its pre-recess deadline, and prediction markets have responded by cutting implied 2026 passage odds to 38%. For the fullest picture, see Crypto News Today and Crypto Market Today.

Other Factors Worth Noting Uneven declines across assets. Dogecoin is down more sharply than Bitcoin or Ethereum today, consistent with its history of amplifying broader market moves in both directions due to lower relative liquidity and a heavily retail trading base.

Monero moving against the trend. XMR remains up sharply for the week even as most of the market pulls back, a reminder that today’s decline reflects broad market pressure rather than a uniform, asset-by-asset sell-off.

Bitcoin ETF inflows remain positive. Despite today’s price action, Bitcoin ETFs have logged seven consecutive days of net inflows — a genuinely supportive signal that institutional demand hasn’t broken down alongside the price pullback.

Is This a Bad Sign, or Normal Volatility? Today’s declines, while broader than some recent sessions, remain within the range of normal crypto volatility. Bitcoin is still up 3.58% for the week despite today’s drop, and the immediate catalysts — oil prices, geopolitical tensions, and a specific legislative timeline — are identifiable rather than mysterious. That said, the combination of deteriorating CLARITY Act odds and rising macro pressure is a genuine, not merely cosmetic, shift from the more optimistic mood earlier in the week, and it’s worth taking seriously rather than dismissing as routine noise.

What Would Reverse Today’s Trend? A CLARITY Act stabilization. Any sign that Senate leadership has found a path to address Democrats’ ethics and consumer-protection concerns, or confirmation that floor action will begin before the recess, would likely ease some of today’s regulatory-driven pressure.

Easing geopolitical tensions. A de-escalation in US-Iran military tensions and a pullback in oil prices would remove one of the two compounding pressures currently weighing on risk assets broadly.

Continued ETF inflows. An eighth consecutive day of Bitcoin ETF inflows would reinforce the case that institutional demand remains intact despite today’s price weakness and darkening regulatory outlook.

This article is for informational purposes only and does not constitute financial advice. Always conduct independent research before making investment decisions.

Frequently Asked Questions Why is Bitcoin down today specifically? Bitcoin is down 0.85% today as rising oil prices tied to US-Iran tensions and fading CLARITY Act passage odds combine to pressure risk assets broadly across the market. It's a genuine shift from the more optimistic mood earlier in the week, though BTC remains up 3.58% for the week despite today's decline.

Is today's crypto dip something to worry about? The decline is broader than some recent sessions but still falls within normal volatility ranges, and Bitcoin remains up for the week overall. The underlying catalysts — oil prices, geopolitical tensions, and a specific legislative timeline — are identifiable and worth monitoring rather than dismissing, but don't yet signal a deeper structural problem.

Which cryptocurrencies are down the most today? Dogecoin has fallen more sharply than Bitcoin, Ethereum, or XRP today, consistent with its tendency to amplify broader market moves due to lower relative liquidity. Ethereum, XRP, and Solana are all down more than 2%, while Bitcoin's decline has been comparatively more modest by comparison. This detail matters most for anyone actively tracking today's market movements.

When will crypto recover from today's dip? There's no fixed timeline. The clearest potential catalysts are a stabilization in the CLARITY Act's Senate outlook, an easing of US-Iran geopolitical tensions and oil prices, or continued Bitcoin ETF inflows extending their current seven-day streak, any of which could shift sentiment relatively quickly given how closely the market has been tracking these stories.

AUTHOR

Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.

Ethereum’s price faced downward pressure on July 24, but technical signals suggest that further gains are possible if the cryptocurrency can maintain its position above a key support level. Analysts and investors are monitoring ETH’s status above $1,850, which is currently viewed as a critical threshold for the asset’s near-term direction.

Price action and key technical levelsAs of the latest trading session, Ethereum is priced at $1,891.58, representing a 1.13% decline over the previous 24 hours. The coin’s daily trading volume reached $19.26 billion, with a total market capitalization of $228.9 billion. Despite the minor decrease in value, Ethereum remains above a significant technical support region that may dictate its next price movement.

Ali Martinez, a widely followed cryptocurrency analyst, published an update on July 24 reflecting his latest technical assessment of Ethereum. According to Martinez, after retesting its lower price channel, Ethereum experienced a rebound. He believes the $1,850 level serves as essential support and that as long as Ethereum stays above this mark, any upward attempt could set $2,060 as the next resistance to watch.

Ali Martinez identified $1,850 as a crucial support. Sustaining this level could pave the way for a rebound toward $2,060, while any move below would weaken the technical outlook.

At present, Ethereum’s trajectory remains within its established trading channel. Observers said the coming days may prove pivotal in determining whether the current rebound signals a more substantive market recovery.

Derivatives market signals and investor positioningThe derivatives market surrounding Ethereum continues to present a balanced scenario, even following its recent dip.

Open interest, a key measure reflecting open derivative contracts, slipped by 1.50% to $27.34 billion. This change suggests some unwinding of leveraged positions after recent market fluctuations, with less short-term speculation in the market. Meanwhile, trading volume recorded a 7.78% rise to $37.07 billion, reflecting robust market engagement.

MetricCurrent ValueChangePrice$1,891.58-1.13%Market Cap$228.90 billion—Daily Trading Volume$19.26 billion—Open Interest$27.34 billion-1.50%Total Trading Volume$37.07 billion+7.78%This dynamic, where volume increases as open interest drops, indicates that while some investors are closing positions, new participants continue to enter the market. Another notable metric, the OI-weighted funding rate, remained stable at around 0.0005%. This near-zero figure shows a balanced market, with little premium for those taking long or short positions—suggesting buyers and sellers are evenly matched.

Mini dictionary: OI-weighted funding rate, a measure in crypto derivatives that indicates the interest rate paid between long and short position holders, weighted by open interest. It helps signal market bias between buyers and sellers.

Short-term outlook and support levelsThe next several trading sessions could be crucial in establishing Ethereum’s near-term trend. Market participants are watching to see if buyers can sustain momentum above the $1,850 level, while trading activity remains high.

If Ethereum maintains its hold above this support, there is potential for a gradual move toward the resistance at $2,060, as identified by Martinez. Should selling pressure increase and trigger a drop below $1,850, focus may shift to lower support areas.

Currently, Ethereum’s technical framework remains resilient. Analysts note, however, that renewed buyer interest and strong price action would be necessary to signal a convincing recovery in the near term.

Despite current technical strength, sustaining buyer momentum and confirmation through price action will be important for an extended move higher.

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.

Whale 0x446B Dumps 8,010 ETH After Eight Months of SilenceAn Ethereum wallet identified as 0x446B executed a full liquidation of its $ETH holdings on July 24, 2026, offloading 8,010 ETH worth $15.11 million into open market liquidity. On-chain analytics platform Lookonchain confirmed the transaction, noting that the wallet had been completely dormant for eight months before the sudden exit.

The sale resulted in a realized loss of $10.8 million, equivalent to a 37% drawdown from the entity's original cost basis. The figures indicate the wallet accumulated its position at a significantly higher average price, only to exit well below that entry point after an extended period of inactivity.

A Broader Pattern of ETH Whale LossesThe 0x446B exit is not an isolated case. Lookonchain data from early July showed a separate whale selling 2,468 ETH at an average price of $1,572, realising a loss of $4.33 million after originally purchasing the same coins at $3,327. That whale sold 2,468 ETH for $3.88 million, having bought the same position at $3,327 per coin, amounting to $8.21 million.

The pattern reflects a difficult year for longer-term Ethereum holders. An Ethereum whale holding 9,389 ETH for roughly four years is sitting on a $23.8 million unrealized loss, according to Lookonchain. ETH has been trading near $1,780, down roughly 32% year-to-date.

Not all large holders are capitulating. Large withdrawals from centralized exchanges are often interpreted as bullish signals in the cryptocurrency market, and recent weeks have seen a separate cohort of whales moving $ETH off exchanges and into staking rather than selling. Ethereum's staking ratio reached a record 33.9%, representing roughly one-third of the network's circulating supply. The divergence between holders exiting at a loss and others accumulating underscores the uncertainty currently surrounding Ethereum's price outlook.

Sources:
Bitget News: Whale Sold 2,468 ETH, Incurring $4.33 Million Loss (Lookonchain data)
Bitcoin.com: ETH Whale Holds 9,389 ETH at $23.8 Million Unrealized Loss
The Coin Republic: Ethereum Staking Ratio Hits Record 33.9%

5 hours ago

Fu Peng, the newly appointed chief economist of Xinhuo Group, shared his views yesterday, noting that global assets—including the fundamentals of mainstream cryptocurrencies—are tied to liquidity. The current shift from loose to tight liquidity has triggered a "shrinking circle" market trend, with funds flowing into high-certainty core assets. Fu Peng believes the AI industry has reached a critical inflection point, moving from the capital-burning hardware infrastructure phase to value validation. Major players like Google have seen their free cash flow drop to zero, and capital markets no longer endorse the logic of mere capital expenditure expansion. “The AI industrial chain is divided into upstream, midstream, and downstream segments, each with its own independent industry lifecycle, and clear sector rotation shifts and allocation windows. Never treat AI as a 'faith' to hold blindly long-term; turning the AI sector into pure concept speculation will definitely lead to pitfalls.” “The full AI industry cycle spans roughly 20 to 25 years, with the first 10 years already completed. The first decade’s core focus was upstream hardware infrastructure, while the next decade’s will be end-user applications. However, a cycle gap exists currently, and the next 10 to 18 months will be the industry transition window. During this window, do not go all-in; strictly follow industry cycle rules for allocation to avoid volatility risks.” On the other hand, the crypto market will follow liquidity contraction. After the winnowing process, core assets such as Bitcoin and Ethereum will stabilize, while junk coin speculation will become ineffective. Investors need to allocate in stages according to industry cycles and be wary of leverage risks.

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Duan Yongping has sold SpaceX put options with a strike price of $92.

Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."

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The United States and the United Kingdom plan to discuss forming an international alliance to protect maritime shipping in the Strait of Hormuz.

According to AXIOS: European diplomats say the U.S. and the U.K. are discussing holding a high-level meeting in London next week, with the meeting focusing on a potential plan to establish an international coalition to protect maritime shipping in the Strait of Hormuz.

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A prominent trader says Bitcoin’s cycle is accelerating, and firmly believes this cycle will still hit a new high before the halving.

Renowned trader Killa (@KillaXBT) stated in a post that Bitcoin’s cycle is accelerating. The previous cycle took just 476 days to rise from its bottom to a new all-time high (ATH), far faster than the two prior cycles. He forecasts this cycle will also hit a new high ahead of the next halving. Killa, a BTC-focused quantitative trader, accurately predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 before switching to long positions during the broad market sell-off on June 5.

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Qualcomm notifies its customers it can no longer absorb price hikes, and will raise prices by double-digit percentages.

Bloomberg cited a letter reporting that Qualcomm has informed its clients it can no longer absorb price hikes and will implement double-digit percentage price increases. Following the news, BIT (bit.com) market data shows Qualcomm’s decline narrowed, while Nvidia climbed 1.2% to hit a new daily high.

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OpenAI CEO: Hopes the U.S. wins in the open-source AI sector, and is "pleased to see" Jensen Huang's remarks.

OpenAI CEO Sam Altman said he hopes the U.S. will lead in both open-source AI and proprietary AI models, adding that he "welcomes" the statement Nvidia’s CEO made on social media regarding the open letter jointly issued by over 20 U.S. tech companies.

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TLDR: Ethereum price retreated toward $1,880 after sellers blocked its recovery below the psychological $2,000 resistance level. The $1,850 support zone now protects Ethereum’s ascending channel and could determine whether the recent rebound stays intact. Spot Ethereum ETFs recorded $26.3 million in daily inflows, extending their positive flow streak to five trading sessions. Rising open interest and negative funding rates increase liquidation risks as traders build leveraged positions near key price levels. Ethereum price fell toward $1,880 on July 24 after failing to break the psychological $2,000 resistance level. The decline erased part of the recovery that started near $1,560 in late June.

Ether traded near $1,882 at press time, down about 3% over 24 hours. Sellers emerged after ETH reached the $1,935 to $1,950 region earlier this week.

The broader technology-stock sell-off also weakened risk appetite. Major U.S. technology companies lost nearly $797 billion in market value during Thursday’s session.

Bitcoin declined less than 1% and traded near $65,400. Ether’s sharper drop showed that investors continued reducing exposure to higher-risk altcoins.

Ethereum Price Faces Pressure From Leverage and Tech Losses The Ethereum price weakened as Wall Street investors questioned growing artificial-intelligence spending. Alphabet raised its 2026 capital expenditure forecast to as much as $205 billion.

Weaker Tesla earnings also added pressure to technology stocks. The Nasdaq 100 dropped 1.9%, while the S&P 500 declined 1.2%.

Crypto derivatives showed that traders increased exposure before the rejection. Ethereum open interest rose by 600,000 ETH within two days.

Total open interest reached 14.6 million ETH, its highest level since June 7. Rising leverage increased the risk of forced liquidations during sharp price moves.

Funding rates briefly turned negative on Thursday for the first time since June 29. Around $41.55 million in leveraged positions faced liquidation over 24 hours.

Long traders accounted for about $34.4 million of that total. The figures showed that bullish positions absorbed most of the damage during the pullback.

Spot Ethereum ETFs still recorded $26.3 million in net inflows on July 23. The result extended their positive streak to five consecutive trading sessions.

Fidelity’s FETH received $14.9 million, while BlackRock’s ETHA attracted $8.5 million. Grayscale’s mini-Ether fund added another $2.9 million.

The daily total fell from earlier weekly inflows of $38 million, $37.5 million, and $72.7 million. ETF demand therefore failed to offset selling across spot markets.

Ethereum Price Must Hold $1,850 to Protect Recovery Ethereum technical analysis places ETH near the lower boundary of an ascending channel. That structure has guided the recovery since early July.

Ethereum $ETH has rebounded after testing the lower boundary of its channel.

As long as this support at $1,850 continues to hold, I'm watching for a move back toward the upper boundary near $2,060. pic.twitter.com/3H29SDOprG

— Ali Charts (@alicharts) July 24, 2026

Immediate ETH support sits between $1,850 and $1,880. Holding this area could allow buyers to target $1,910 before challenging the $1,950 supply zone.

Crypto analyst Ali Martinez says the channel remains valid while Ethereum holds $1,850. The upper boundary could reach approximately $2,060 during another rebound.

Momentum indicators still favour, sellers in the short term. The four-hour relative strength index dropped to 44.06, below its moving average of 52.62.

The MACD line also fell below its signal line. Its negative histogram showed that bearish momentum continued during the latest session.

The Ethereum price remains above the forward Ichimoku cloud boundary near $1,816 on the daily chart. Chaikin Money Flow stayed positive at 0.07, suggesting capital has not fully left the market.

Liquidation data shows significant leveraged positions near $1,900 and $1,910. Another large liquidity cluster sits between $1,955 and $1,965.

A break above those levels could force short liquidations and reopen the route toward $2,000. Buyers must first reclaim $1,910 with stronger spot volume.

Source: Coinglass Downside liquidity has formed between $1,840 and $1,850, followed by another cluster near $1,820. A four-hour close below $1,850 could expose $1,816.

Further selling could then push ETH toward the $1,750 to $1,730 region. Continued equity weakness or higher bond yields could increase pressure around those lower levels.

The crypto derivatives market just served up another painful reminder that leverage is a double-edged sword. Over the past 24 hours, $271 million in total positions were liquidated across perpetual futures platforms, according to data from Coinglass.

The damage was overwhelmingly one-sided. Long positions accounted for $228.2 million of the carnage, while shorts contributed a comparatively modest $42.8 million.

Bitcoin and Ethereum led the bloodbath Bitcoin longs took the biggest hit, with $120.2 million wiped out. That’s roughly half of all long liquidations in a single asset. Bitcoin shorts, by contrast, only saw $22.1 million liquidated.

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Ethereum wasn’t far behind in the pain department. Long positions on ETH accounted for $45.7 million in liquidations, while short liquidations came in at $12.2 million.

The ratio tells the story. For every dollar of short liquidations, roughly $5.33 in longs got blown out. That kind of asymmetry typically signals a swift downward price move that caught leveraged bulls off guard, triggering a cascade of margin calls that fed on itself.

What this means for investors The dominance of long liquidations suggests that bullish sentiment had gotten ahead of itself. The $228.2 million in liquidated longs versus just $42.8 million in shorts tells you the market was leaning hard to one side, and it snapped back.

Coinglass, which aggregates liquidation data across major perpetual futures platforms, monitors exchanges in real time and provides granular breakdowns by asset and position direction, giving traders and analysts a clear view of where leverage is building up and where it’s getting unwound.

One thing is clear: the derivatives market remains a dominant force in crypto price action. When $271 million gets liquidated in a single day, that’s not just a footnote. It’s a market-moving event that feeds directly into spot prices and shapes the trading environment for everyone, leveraged or not.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The price of Ethereum [ETH] was down 1.77% in the past 24 hours. Daily trading volume dipped by just over 6%, and Open Interest has slid by 3.2%. CoinGlass data showed that long liquidations might help explain the recent price drop.

The bullish derivatives traders faced around $67 million in liquidations, measured from July 22. These liquidations forced sell orders to close the position in perpetual markets, increasing the sell pressure on ETH.

CryptoQuant data showed that the funding rate was positive but declining. Since the first week of July, the 7-day moving average of the funding rate has dipped from +0.0088% to +0.0054%, a mildly positive reading.

Source: CryptoQuant The taker buy/sell ratio measures the proportion of aggressive [market] buying versus selling volume. This metric fell deep into negative territory recently. However, its 7-day moving average has not slipped below zero, as it did in May.

The Ethereum price action is likely to turn bearish now AMBCrypto reported on whale accumulation and improved ETF demand recently. The network’s validator queue has also dropped to zero with no waiting time, signaling conviction from long-term stakers.

Source: ETH/USDT on TradingView The price charts told a different story. On the 1-day timeframe, the swing structure remains firmly bearish. A breakdown below the February low at $1,742 in early June confirmed this.

At the time of writing, Ethereum was experiencing a price bounce, but has not managed to reach key Fibonacci retracement levels.

Traders’ call to action- Sell Source: ETH/USDT on TradingView Another set of Fibonacci retracement levels was plotted based on the late May-early June selloff. Back then, the Ethereum price raced lower from $2,043 to $1,510. Earlier this week, the 78.6% retracement level had been tested.

ETH bulls have faced a setback from the resistance level at $1,929. The 4-hour and 1-day timeframes were in agreement on a bearish bias. As things stand, a price drop toward $1,510 appeared likely.

A rally beyond $2,043 would invalidate this bearish case.

Final Summary The Ethereum whale accumulation and cleared validator queues signaled long-term conviction, but the price charts remained bearish. The derivatives market saw aggressive sell pressure in the past 48 hours, and the funding rate has been sliding lower, showing a cool-off in demand.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Even though the meme cryptocurrency is still trading close to multi-month lows, Dogecoin has seen a significant increase in trading activity, with 24-hour spot volume rising by more than 123%. The increase in participation indicates that traders are becoming more active in the current support zone, even though price action is still weak. 

Dogecoin's volumes riseThe most recent market data shows that DOGE's spot trading volume has increased to about $219 million, and its futures volume has reached about $1.5 billion. The fact that open interest is more than $1.1 billion shows that leveraged traders are still heavily exposed even though the asset is having difficulty making a significant comeback. But from a technical standpoint, the chart is still very negative. 

DOGE/USDT Chart by TradingViewAfter yet another rejection below the 26-day exponential moving average, which is now close to $0.074, Dogecoin is trading at about $0.069. Additionally, the price is still significantly below the 50-day EMA at $0.078 and the 100-day EMA at $0.087, indicating that sellers continue to control the medium- and longer-term trends. 

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The 200-day moving average, which is currently above $0.10, is still sloping downward, indicating how much more work bulls have ahead of them before a structural reversal is feasible. Momentum indicators are just as cautious. With an RSI of roughly 34–35, DOGE is in the vicinity of oversold territory.

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Even though that raises the likelihood of a technical bounce, oversold conditions by themselves seldom indicate a long-term bottom during established downtrends. It is interesting to note that derivatives positioning paints a more positive picture. 

Who's exposed to DOGE?Top traders on Binance and OKX have substantially more long than short exposure, and long-to-short ratios on major exchanges continue to be strongly skewed toward bullish wagers. However, this optimism has not yet resulted in persistent spot market buying pressure. 

Thus, the rise in trading volume warrants consideration. Increasing volume during a protracted decline frequently indicates one of two things: either accumulation as larger players covertly take supply from weaker hands, or capitulation as remaining holders give up their positions. 

Price confirmation is necessary to differentiate between those results. As of right now, Dogecoin is still printing lower highs and lower lows, indicating that the trend has not altered. Bulls' first task is still to recover the 26-day EMA at $0.074. A stronger breakout would aim for the $0.087 resistance zone, while a move above that level might set off a recovery toward the 50-day EMA near $0.078. 

"The next big move could shock everyone," one analyst predicted.

The biggest meme coin by market capitalization is down 12% over the past month, while its most recent plunge below a critical level suggests sellers may now be in full control.

On the other hand, Ali Martinez pointed to the formation of a rare setup that could be a precursor to a major bull run.

Will Bears Keep the Wheel? DOGE has tumbled by roughly 5% on a 24-hour scale and is currently worth around $0.069 (according to CoinGecko). The X account BSCN noted that in its weekly anomaly report, Santiment flagged the meme coin as “hype without news,” warning that a price drop below $0.071 would hand control to the sellers.

“Santiment’s core read was that DOGE trades as amplified Bitcoin beta, falling harder in selloffs, and this session proved it on cue,” it added.

According to the analytics platform, a quick reclaim of the key $0.071 zone would repair the setup, but staying beneath it would indicate that bears continue to dominate.

Other market observers who also touched upon DOGE include Kamran Asghar and Scient. The former claimed that the token is approaching “a make or break” level, predicting that “the next big move could shock everyone.” The latter was firmly on the bearish side, expecting a further drop in the coming days.

The Bullish Signals Contrary to its poor performance as of late, the renowned analyst Ali Martinez outlined that DOGE’s weekly TD Sequential indicator has flashed numerous consecutive buy signals. He labeled the development “a rare setup that could be warning a major bull rally is approaching.”

X user Cryptollica chipped in, too, noting the “dead attention” surrounding Dogecoin recently. At the same time, they believe this is the best moment to jump on the bandwagon, saying:

You may also like: Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Could Dogecoin (DOGE) Be Setting Up for Its Next Big Move? Analysts Think So ‘Dead Meme’ or Major Opportunity? DOGE Is Flashing The Same Signal That Preceded Its Biggest Rallies “Invest when no one else cares. That way, you will make money.”

The institutional interest is also worth mentioning. Earlier this week, spot DOGE ETFs witnessed their first green day since mid-June. However, the capital flowing into these products remains negligible, and appetite from big players like pension funds and hedge funds should seriously increase to positively impact the price.

Spot DOGE ETFs, Source: SoSoValue Tags:

Dogecoin fell after Elon Musk admitted he got "carried away" with politics while reflecting on his role leading the Department of Government Efficiency.

Elon Musk has acknowledged that his involvement in U.S. politics and the Department of Government Efficiency went further than he intended.

“I think I got a little too involved in politics,” Musk said in an interview with The Economist published on July 23. 

“Got carried away, frankly.”

Dogecoin fell sharply after the interview was released, extending the memecoin’s recent losses despite having no formal connection to the government initiative that shared its DOGE acronym.

Musk reflects on his DOGE rolePresident Donald Trump established the Department of Government Efficiency by executive order on Jan. 20, 2025, tasking it with modernizing federal technology and improving government efficiency.

Musk became the initiative’s most visible figure as it pushed to reduce federal spending, contracts and staffing. His appointment as a special government employee was limited to 130 days, and his government role ended in late May 2025. DOGE’s cost-cutting work continued after Musk’s departure until the initiative officially terminated on July 4, 2026.

Trending on TheStreet Roundtable:Analyst cuts Coinbase price target 40% ahead of Q2 earningsNew Senate bill could ban Trump from launching his own tokensPopular crypto firm files for Chapter 11 after token collapseDuring the July 23 interview, Musk continued to defend the initiative’s work but conceded that politics had taken too much of his attention.

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His latest comments echo an earlier admission that he would have prioritized his businesses differently.

“I think instead of doing Doge, I would have basically worked on my companies,” Musk previously said.

Dogecoin drops following interviewDogecoin traded near $0.0723 shortly before the interview’s publication before falling below $0.07, according to CoinMarketCap data shown in the accompanying chart.

DOGE dropped to approximately $0.0685, representing a decline of more than 5% from its pre-publication level. It was also down around 4.9% over the previous seven days.

Dogecoin drops after Elon Musk's statement: Coinmarketcap

The Department of Government Efficiency and Dogecoin are unrelated. 

However, their shared acronym and Musk’s years of public support for the memecoin have kept the two closely connected in traders’ minds.

Attention and sentiment surrounding Musk’s social media activity have historically influenced Dogecoin’s market performance.

Dogecoin has repeatedly reacted quickly to Musk’s statements, endorsements and jokes. This time was no exception, with DOGE trading at about $0.0686 at the time of writing.

Cardano founder Charles Hoskinson has argued that President Donald Trump should not actively participate in the cryptocurrency market while serving in office.

Hoskison’s comments came after Senator Elizabeth Warren urged lawmakers to reject the latest version of the Clarity Act, claiming it does not adequately prevent President Trump from financially benefiting from his crypto-related activities.

Warren Raises Conflict-of-Interest Concerns According to Warren, the bill lacks sufficient safeguards to stop the president from profiting from cryptocurrency ventures while in office. She also argued that the legislation does not do enough to combat illicit finance or protect investors and the broader financial system.

Additionally, Warren described the proposal as a missed opportunity to address potential conflicts of interest involving Trump’s crypto businesses, which she claimed generated approximately $1.4 billion in revenue last year. 

It is worth noting that the U.S. President is associated with several cryptocurrency ventures, including the Official Trump meme coin and the World Liberty Financial project, which have fueled broader discussions about potential conflicts of interest. 

Cardano Founder Reacts  Reacting to Warren’s criticism, Hoskinson revealed that he had expressed similar concerns more than a year ago during several interviews. He argued that the political approach to cryptocurrency regulation had been misguided from the outset.

According to Hoskinson, those decisions ultimately strengthened the narrative that cryptocurrency regulation revolves around President Trump, making bipartisan cooperation increasingly difficult.

He stressed that meaningful progress cannot occur if cryptocurrency becomes a partisan political issue.

Hoskinson Calls Trump “the Ultimate Insider” In a follow-up statement, Hoskinson argued that no sitting president should participate directly in financial markets because of the extraordinary influence and privileged access associated with the office.

He stated that the president occupies a unique position of power and information, making Trump “the ultimate insider.” Although Hoskinson acknowledged that he rarely agrees with Senator Warren, he said her concerns about presidential involvement in financial markets were justified.

He added that stronger safeguards are necessary to prevent potential conflicts of interest and preserve public confidence in cryptocurrency policymaking.

Updated Clarity Act Introduces Ethics Restrictions Meanwhile, the Clarity Act continues to attract significant attention in Washington.

Earlier this week, Republican lawmakers introduced an updated draft of the legislation that includes a new ethics provision. The proposal would prohibit the President, Vice President, members of Congress, and their spouses from issuing or sponsoring digital assets while serving in office.

Congressional leadership is reportedly aiming to bring the bill to a Senate floor vote before the upcoming August recess. However, a packed legislative schedule and continued Democratic criticism over the strength of the ethics provisions could delay its passage. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Cardano (CRYPTO: ADA) founder Charles Hoskinson says the next phase of cryptocurrency adoption will be driven less by faster blockchains and more by safety, governance and consumer protections.

Ethereum ‘Keeps Doing Things Wrong’In an interview with CoinDesk on July 23, Hoskinson, a co-founder of Ethereum (CRYPTO: ETH) before launching Cardano, was sharply critical of the network’s governance model.

He argued Ethereum lacks an on-chain treasury capable of sustainably funding long-term development and instead depends on a handful of influential organizations.

"If Ethereum was to just take 5% of protocol revenue and give it to the Ethereum Foundation, they’d have $390 million a year to work with," he said.

Hoskinson also criticized Ethereum’s reliance on large companies to shape development priorities, arguing that meaningful decentralization requires token holders, not corporations, to determine the network’s future through on-chain voting.

He said Cardano’s governance framework, while slower to develop, provides a more sustainable long-term model.

"People are starting to wake up, especially in the age of AI hacking where everything is getting broken, that speed to market is not necessarily the most desirable thing," Hoskinson said.

Crypto Needs An Insurance LayerFollowing a recent bridge exploit involving Cardano-related infrastructure, Hoskinson said the industry’s biggest missing component is insurance.

He proposed optional insurance products for crypto wallets and cross-chain bridges, funded through premiums and backed by collateral pools.

Under the model, users would pay recurring fees while protocols meeting defined security standards could qualify for coverage.

Insurance would compensate victims after hacks and encourage better software practices across the industry, he said.

"You need financial systems with rule of law and checks and balances and the ability to get restitution when bad things happen," Hoskinson said.

Hoskinson expects the next wave of crypto adoption to come from integrating blockchain with identity, privacy, insurance and real-world financial infrastructure rather than simply increasing transaction throughput.

Image: Shutterstock

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