The market is holding its breath, not falling apart. Bitcoin sits just above $62,600 after a 0.8% daily dip, US inflation data lands today, and the one chart everyone should glance at is not BTC at all. It is Hyperliquid, down 10.3% on the week, the worst print in the entire top 10.
BTC Waits for the CPI Print Bitcoin trades at $62,617 as of July 14, 2026, per CoinGecko, down 0.8% over 24 hours and nearly flat, minus 0.7%, across the week. Market cap: $1.256 trillion. Volume: $27.3 billion.
The shape of the week matters more than the numbers. BTC absorbed the US and Iran escalation, a wave of long liquidations, and a slide toward $60,000, then stabilized in the low $62,000s ahead of today’s inflation report. Flat after that sequence is not weakness. It is a market that has already sold its fear and is waiting for a reason to do anything else.
The reason arrives today. A cool CPI print revives rat e-cut bets and risk appetite; a hot one sends BTC back to test the $60,000 round number it has been circling for a week. Until the data drops, the $60,000 to $64,000 box is the whole map, and this desk covered the top of that box last week. The box has not changed. The catalyst has a timestamp now.
ETH Stands Alone, XRP Leans on $1 One number stands out on the majors board: Ethereum is the only large cap green on the week, up 0.8% at $1,786. Everything else in the top 10 is red over seven days. When a single major diverges through a storm like this one, it is usually telling you where the next rotation starts, and ETH held that role through last week’s rally too. Watch whether it keeps the crown through the CPI reaction.
XRP is the opposite story. At $1.07, down 5.1% on the week, it keeps drifting toward the round $1.00 after breaking the $1.11 level our XRP coverage flagged as the line between a dip and a top. The break resolved bearish, and $1.00 is now the level the entire XRP conversation compresses into.
Solana slid to $75.05, down 7.7% weekly, still digesting both the macro storm and the BonkDAO drain we covered in this week’s BONK report. Dogecoin sits at $0.07212, and our July prediction page’s warning floor at $0.070 is now two cents of noise away.
HYPE Is the Red Flag of the Week Hyperliquid’s HYPE takes today’s second slot for the ugliest reason: minus 2.9% on the day, minus 10.3% on the week, the worst performance in the top 10, at $63.67 with a $14.2 billion cap. A token built on derivatives-exchange activity underperforming this badly during a volatility spike is counterintuitive; volatility is supposed to be its business. Either traders are pricing something specific, or the token simply carried the most froth into the storm. We have not verified a specific catalyst, and we will not invent one. The chart earns a spot on the watchlist either way: $60 is the round number below, and a bounce back above $67 would retire the concern.
[CHART: BTCUSD daily, July 14. Source: TradingView]
The Numbers That Matter Today BTC: the $60,000 to $64,000 box, CPI as the trigger. ETH: the only green major at $1,786. XRP: $1.00 in sight after losing $1.11. HYPE: worst of the top 10 at minus 10.3% weekly. Total market cap: roughly $2.16 trillion, red but orderly. The data decides the rest today.
FAQ What is the Bitcoin price today? Bitcoin trades at $62,617 as of July 14, 2026, down 0.8% in 24 hours, with a $1.256 trillion market cap ahead of today’s US inflation report.
Why is HYPE falling? HYPE is down 10.3% on the week, the worst in the top 10, at $63.67. No single confirmed catalyst is visible in the data; the move fits broad risk-off pressure hitting the frothiest large caps hardest.
Why is Ethereum up while everything else is down? ETH is the only top-10 major green over seven days, up 0.8% at $1,786, extending the relative strength it showed through last week’s rally and pullback.
This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.
AUTHOR
Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
He Yi: Binance has helped users recover more than $8 billion in mistakenly transferred cryptocurrency.
Binance co-founder He Yi stated in a social media post that since 2021, Binance has helped users recover over $8 billion in mistakenly sent cryptocurrency transfers.
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According to Bloomberg, JPMorgan Chase & Co. has stated that the stablecoin operations of Circle Internet Group and Coinbase Global are facing growing profit pressure, noting that a new partnership with crypto trading platform Hyperliquid highlights the "prisoner's dilemma" the two leading firms are in. On Tuesday, the bank lowered its profit forecasts for the two crypto companies, explaining that the new collaboration has altered the revenue distribution structure—specifically, how proceeds from USDC, the world’s second-largest stablecoin issued by Circle, will be allocated across its distribution partners.
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He Yi: Binance has helped users recover more than $8 billion in mistakenly transferred cryptocurrency.
Binance co-founder He Yi stated in a social media post that since 2021, Binance has helped users recover over $8 billion in mistakenly sent cryptocurrency transfers.
28 minutes ago
JPMorgan: Stablecoin operations of Circle and Coinbase face margin pressure, leading the bank to lower their earnings forecasts.
According to Bloomberg, JPMorgan Chase & Co. has stated that the stablecoin operations of Circle Internet Group and Coinbase Global are facing growing profit pressure, noting that a new partnership with crypto trading platform Hyperliquid highlights the "prisoner's dilemma" the two leading firms are in. On Tuesday, the bank lowered its profit forecasts for the two crypto companies, explaining that the new collaboration has altered the revenue distribution structure—specifically, how proceeds from USDC, the world’s second-largest stablecoin issued by Circle, will be allocated across its distribution partners.
28 minutes ago
Walsh: Did not imply the Federal Reserve will not expand its balance sheet during crisis periods.
Fed Chair Walsh stated that June CPI exhibits a positive correlation with inflation expectations, and did not imply that the Federal Reserve would refrain from expanding its balance sheet during crisis periods.
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According to monitoring by Onchain Lens, the official X account of Meme token launch platform Noxa has been reportedly hacked. Community users who interacted with links posted from the account have had their wallets emptied. Users are warned not to connect their wallets, sign any transactions, or engage with any links shared by this account.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
14 July 2026 | 20:08 JPMorgan has lowered its earnings estimates for Circle and Coinbase, arguing that their revised USDC arrangement with Hyperliquid exposes a structural weakness in the stablecoin’s distribution model.
Key Takeaways JPMorgan said the Hyperliquid agreement creates a “prisoner’s dilemma” in which Circle and Coinbase may sacrifice margins to protect USDC distribution. Hyperliquid holds approximately $5.5 billion to $6 billion in stablecoins, with USDC accounting for nearly 94% of the on-chain supply. The frequently cited $160 million figure came from an earlier Compass Point estimate and represents potential reserve yield redirected to Hyperliquid, not a confirmed net loss. Robinhood Chain has already overtaken Hyperliquid in seven-day spot DEX volume despite launching on July 1, showing how quickly competing platforms can establish their own preferred stablecoin rails. Hyperliquid Gains the Yield Without Issuing USDC Under the revised structure, Coinbase becomes the official USDC treasury deployer on Hyperliquid. Circle remains responsible for the technical infrastructure needed to mint, redeem and move USDC across supported networks.
The arrangement preserves USDC as Hyperliquid’s primary collateral and quote asset across its spot, perpetual and other on-chain markets. It also gives the protocol access to most of the income generated by the underlying reserves.
Hyperliquid’s Aligned Quote Asset framework states that deployers share approximately 90% of cost-adjusted reserve yield generated by their supply with the protocol. Aligned assets receive trading advantages including lower taker fees, improved maker rebates and greater volume contribution toward fee tiers.
The payment is not interest distributed directly to USDC holders. It is protocol-level revenue derived from the cash and short-term government securities backing the stablecoin. Hyperliquid captures much of that income in exchange for making USDC the preferred dollar asset across its markets.
That distinction explains why the agreement can strengthen USDC’s utility while weakening its economics for Circle. The stablecoin gains volume, collateral demand and distribution, but its issuer retains a smaller portion of the reserve income attached to those balances.
Why JPMorgan Sees a Prisoner’s Dilemma JPMorgan described the arrangement as a “prisoner’s dilemma” because Circle and Coinbase both benefit from wider USDC adoption but can compete over which company gives more of the economics to major distributors.
If neither company offers favorable terms, a large platform could support another stablecoin or create its own. If one side accepts a lower margin to secure the platform, the other risks losing distribution unless it participates in the concession.
JPMorgan estimates that Hyperliquid holds around $6 billion in USDC, equal to roughly 8% of the token’s circulating supply. At the time of writing, DefiLlama showed approximately $5.5 billion in stablecoins on Hyperliquid L1, with USDC representing 93.87% of the total.
Coinbase previously treated much of the USDC held outside its platform differently from balances held directly on Coinbase. JPMorgan said that classifying Hyperliquid’s USDC as on-platform allows Coinbase to collect the associated reserve income before transferring 90% of the adjusted amount to Hyperliquid.
The structure may still benefit Coinbase strategically. Acting as treasury deployer strengthens its role in minting, redemption, liquidity management and fiat access around one of the largest pools of on-chain dollars. The trade-off is that securing that position requires Coinbase and Circle to give up most of the reserve yield generated there.
The $160 Million Estimate Needs Qualification The estimate that as much as $160 million in annual revenue could move toward Hyperliquid did not originate in JPMorgan’s July report. Compass Point produced the estimate in May, when Hyperliquid held approximately $5 billion to $5.5 billion in USDC.
The figure represented an estimate of reserve income that could be redirected under the yield-sharing arrangement. It should not be treated as a confirmed reduction of the same size in Circle and Coinbase earnings.
The eventual impact depends on several variables: The average amount of USDC held on Hyperliquid Short-term interest rates and the return on USDC reserves The costs deducted before the 90% share is calculated How the income would otherwise have been divided between Circle and Coinbase Additional revenue Coinbase earns from treasury deployment and related services The concern is still material because reserve income dominates Circle’s financial model. In its first-quarter filing with the Securities and Exchange Commission, Circle reported $652.5 million in reserve income and $405.4 million in distribution and transaction costs.
The Hyperliquid terms add to costs that already consume a substantial portion of the income generated by USDC reserves. JPMorgan consequently sees the agreement as a larger long-term issue for Circle than for Coinbase, which has a broader mix of trading, custody, subscription and infrastructure revenue.
Robinhood Shows How Quickly Distribution Can Shift Hyperliquid is not the only platform gaining leverage over stablecoin providers. Robinhood launched the public mainnet of Robinhood Chain on July 1, only 13 days before the latest DefiLlama comparison.
By July 14, Robinhood Chain had accumulated approximately $161.7 million in DeFi TVL, $327.6 million in stablecoins and $3.9 billion in seven-day spot DEX volume. Hyperliquid L1 recorded approximately $1.31 billion in spot volume over the same period.
Robinhood Chain launched and the numbers are astounding.
We dug into the metrics in this week’s edition of the DefiLlama newsletter.https://t.co/1Hs2HHmxTR pic.twitter.com/FLyJ5XNYgK
— DefiLlama.com (@DefiLlama) July 14, 2026
Robinhood therefore generated nearly three times Hyperliquid’s weekly spot DEX activity despite being less than two weeks old. The comparison is limited to spot trading. Hyperliquid remained substantially larger in its core perpetual-futures market, processing approximately $42.5 billion over seven days compared with $24.5 million on Robinhood Chain.
The quality of Robinhood’s early activity also remains unproven. Its seven-day spot volume was roughly 24 times its TVL, an unusually high turnover rate that may reflect launch activity, short-lived speculation or repeated trading through a relatively small pool of liquidity.
The stablecoin composition is more relevant to JPMorgan’s argument. USDG represented around 68% of Robinhood Chain’s stablecoin supply, while Robinhood Earn uses USDG rather than USDC for its on-chain lending product.
A new distribution platform can therefore build substantial liquidity without making USDC its default dollar asset. That increases the pressure on Circle and Coinbase to offer better economics when negotiating with exchanges, wallets, fintech applications and blockchain operators.
Longer-Term Threat JPMorgan’s argument becomes stronger if USDC distribution continues expanding while Circle’s retained income per dollar in circulation declines. The next Circle and Coinbase earnings reports should show whether distribution costs rise faster than the revenue created by additional USDC balances.
The margin-pressure thesis would gain support if USDC balances on Hyperliquid remain near or above $6 billion, making the yield-sharing concession a recurring cost rather than a temporary arrangement. Disclosures showing reserve income flowing into Hyperliquid’s Assistance Fund or being used for HYPE purchases would make the agreement’s economic effect more visible. Continued growth of USDG on Robinhood Chain, or of other regulated stablecoins on competing platforms, would further increase the value of distribution access. For Circle, the clearest financial warning would be distribution expenses rising faster than reserve income, confirming that wider USDC adoption is being achieved at the cost of lower retained margins.
The agreement does not show that USDC is losing relevance. Hyperliquid’s dependence on the stablecoin confirms its importance as trading collateral and on-chain dollar liquidity. The risk is that USDC becomes more widely used while a growing share of the value it generates is captured by the platforms controlling access to users and trading volume.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Noxa's official X account appears to have been hacked; users are advised to stay vigilant against risks.
According to monitoring by Onchain Lens, the official X account of Meme token launch platform Noxa has been reportedly hacked. Community users who interacted with links posted from the account have had their wallets emptied. Users are warned not to connect their wallets, sign any transactions, or engage with any links shared by this account.
Somewhere on the internet right now, a token that did not exist ninety seconds ago is being traded by strangers. It cost its creator about two dollars to launch, required no code, no company, and no permission, and it will most likely be worthless by dinner.
The machine that makes this possible is called a launchpad, and in the current market cycle, launchpads have become the single busiest category of application in all of crypto, minting millions of tokens, generating hundreds of millions of dollars in fees, and hosting both the fastest fortunes and the fastest wipeouts anywhere in the market.
A crypto launchpad is a platform where new tokens are created, distributed, and first sold. That one sentence covers two radically different worlds. The older world is the curated launchpad, a gatekept venue where vetted projects raise capital from early investors through structured sales. The newer world is the permissionless memecoin launchpad, where anyone can deploy a token instantly and the market sorts survivors from corpses in real time. Understanding both models, and the fair launch versus presale divide that separates them, is now basic literacy for anyone touching new tokens.
This guide covers what launchpads are and why they exist, how the curated model works step by step, how the ICO era created and nearly destroyed the category, how Pump.fun rewrote the rules with bonding curves and one click deployment, how fair launches differ from presales in mechanics and in incentives, the competitive war now running across chains, the risk landscape from rug pulls to sniping, and a practical checklist for evaluating any launch before putting money in.
What a launchpad is and the problem it solves Every new token faces the same cold start problem. It needs a price, but prices come from markets, and markets need liquidity and participants, which a brand new asset has none of. It needs distribution, because a token held entirely by its creator is not a market but an inventory. And if the project behind it needs funding, it needs a way to sell tokens before any of the above exists. Launchpads are infrastructure built to solve the cold start: they provide the venue, the mechanics, and the initial audience that turn a token from a contract deployment into a trading asset.
The earliest solution was no solution at all. Projects in the initial coin offering era of 2017 and 2018 simply published a whitepaper and a deposit address, and money flowed in on trust. The results were catastrophic often enough, exit scams, vaporware, outright theft, that the market demanded intermediaries, and launchpads emerged as exactly that: platforms that would screen projects, structure the sale, hold the process to rules, and lend their reputation to launches that passed. Binance Launchpad’s 2019 debut set the template for the exchange hosted version, the initial exchange offering, and dozens of platforms followed across chains and niches.
Between those poles sits a spectrum of hybrids: launchpads with light vetting but open access, curated venues that added instant launch products, and exchange platforms that bolted bonding curves onto their listing pipelines. The taxonomy matters less than the underlying trade: every launchpad design chooses a point on the line between safety and openness, and every point on that line has a failure mode.
The intermediary model dominated until January 2024, when a Solana application called Pump.fun asked a heretical question: what if the launchpad screened nothing, structured nothing, and simply let anyone launch instantly into an automated market? The answer turned out to be the most prolific token factory in crypto history, and it split the launchpad world permanently in two.
How curated launchpads work The traditional pipeline runs in recognizable stages. A project applies, submitting its documentation, team credentials, tokenomics, and roadmap. The platform vets, with the serious venues running identity checks, code audits, and economic review, and rejecting most applicants; the vetting is the product, since it is the reason investors trust the venue at all. An accepted project then announces its sale terms: price, allocation sizes, dates, and the vesting schedule governing when purchased tokens actually become tradable.
Participation mechanics vary by platform. The simplest model is first come, first served at a fixed price. More common is tiered access, where users must hold or stake the launchpad’s own native token to qualify, with larger stakes buying larger allocations, a design that conveniently creates permanent demand for the platform’s token. Lottery systems randomize access among registrants. Auctions let demand set the price. Whatever the format, buyers in these sales are getting in before public listing, usually at a discount to the expected listing price, and usually subject to vesting: a portion at the token generation event, the rest released over months. Some platforms add refund windows that let participants back out before claiming tokens, a feature that emerged after enough listings traded below their sale price to make guarantees a selling point.
After the sale, the platform typically coordinates the listing, on its own exchange in the IEO model or on a decentralized exchange in the IDO model, where the sale proceeds seed the first liquidity pools. The launch is complete when the token trades freely and the launchpad moves on to the next cohort. At their best, curated launchpads function as a hybrid of underwriter, accelerator, and quality filter. At their worst, they are pay to play listing machines whose vetting is a press release, and the category has produced plenty of both.
Pump.fun and the permissionless revolution Pump.fun deleted every stage of that pipeline. Launched on Solana in January 2024, it reduced token creation to a form: name, ticker, image, and roughly two dollars in fees, with the token live and tradable in under a minute. No application, no vetting, no presale, no team allocation, no liquidity to raise. The mechanism that makes this possible is the bonding curve, an automated pricing formula that acts as the token’s first market.
The curve works like a vending machine that raises its prices as stock sells. A fixed portion of the new token’s supply is placed into the curve contract. Buyers purchase directly from the curve, and each purchase pushes the price higher along the formula; sellers sell back into it, pushing the price down. There is no order book, no market maker, and no counterparty except the contract, which means every token has instant, guaranteed liquidity from its first second, priced purely by net demand.
Graduation is the second innovation. When a token’s bonding curve fills to a threshold market value, originally around 69,000 dollars, later revised alongside the platform’s move to its own exchange, the accumulated funds are deposited automatically into a liquidity pool on an open decentralized exchange, and the token leaves the nursery to trade in the wild. Most tokens never graduate. That is the design, not a flaw: the curve stage is a cheap, contained arena where thousands of ideas can fail without wasting anyone’s liquidity but their buyers’.
The numbers the model produced are difficult to overstate. More than eleven million tokens have launched through the platform, cumulative revenue has run toward a billion dollars, and at peak the platform accounted for the large majority of all new token launches on Solana. In July 2025 the platform sold its own PUMP token, raising six hundred million dollars in twelve minutes as part of a sale exceeding a billion dollars, a fundraising event that would have ranked among the largest ICOs of the previous era, executed by a company whose product exists to make fundraising unnecessary. The irony was widely noted and changed nothing about the demand.
Inside the bonding curve: a worked example The mechanics become intuitive with numbers. Suppose a new token launches with 800 million of its 1 billion supply placed into the curve, the standard structure on Pump.fun’s original design. The first buyer spends a small amount of SOL and receives tokens at the curve’s floor price, fractions of a cent. Each subsequent buy delivers fewer tokens per SOL, because the formula raises the price as the curve’s token reserve depletes. A buyer arriving after 100 SOL of net inflows pays a visibly higher price than the first; a buyer arriving after 400 SOL pays multiples of it.
Selling reverses the flow. A holder sells tokens back into the curve and receives SOL out of the accumulated reserve, pushing the price back down the formula. The reserve can never be emptied below what the formula requires, which is what makes the liquidity guaranteed: unlike a traditional pool that a creator can drain, the curve’s funds are locked in the contract and only move along the formula or, at graduation, into the public pool.
The design has an underappreciated psychological property. Because early positions on the curve are mathematically cheapest, every launch is a race, and the race is the product. The interface shows live buys, holder counts, and a progress bar to graduation, gamifying the climb. Critics describe the result as a slot machine with extra steps; users describe it as the purest price discovery in crypto, a market with no fundamentals to argue about, only flows. The two descriptions are not in conflict.
What the curve does not do is protect anyone after the music stops. When attention moves on, the same formula that escalated the price on the way up marks it down just as smoothly, and the last buyers hold the loss. The curve guarantees a market. It has no opinion about the price.
Fair launch versus presale: the real dividing line Underneath the platform war sits a deeper design question: who gets tokens before the public does, and at what price. A presale model answers: insiders do. Investors, the team, and early allocations buy at preferential prices before public trading, with vesting schedules governing when they can sell. The presale is how projects fund development, and it is also how the low float, high valuation structure gets built, with all the delayed sell pressure that implies. Buying at public listing in a presale token means buying above the price every insider paid.
A fair launch answers: nobody does. All supply enters the market through the same mechanism at the same starting price, with no presale, no team allocation, and no vesting, because there is nothing to vest. The bonding curve launchpads made fair launches operationally trivial, and the model’s appeal is exactly its symmetry: the creator has no privileged tokens to dump, so the archetypal insider rug is structurally impossible.
The honest comparison cuts both ways. Fair launches remove insider pricing but replace it with a speed game, where the earliest seconds of the curve capture the cheapest tokens, and being early is its own privilege, one that trading bots enjoy far more than humans. Snipers buy in the launch block, bundlers split purchases across wallets to disguise concentration, and a nominally fair curve can be quietly cornered before an ordinary buyer ever sees the ticker. Presales, for all their asymmetry, at least fund something: a team with capital, obligations, and a vesting schedule has reasons to build, while a fair launched memecoin has no treasury, no roadmap, and no one accountable. Fairness at the starting line does not imply anything about the race.
The practical synthesis most of the market has settled on: fair launch mechanics suit tokens that are pure attention assets, meme coins whose only product is the crowd itself, while structured sales with vesting still dominate for projects that need funded teams. The mechanisms sort the assets.
The launchpad wars Success invited siege. LetsBonk arrived in April 2025 from the BONK community in collaboration with Raydium, Solana’s largest decentralized exchange, differentiating itself by recycling a share of fees into buying BONK, a value return the community contrasted pointedly with Pump.fun’s extraction of fees. The same BONK ecosystem later provided a darker lesson in what community infrastructure can cost when its treasury governance failed spectacularly in a twenty million dollar attack, a reminder that the money launchpads generate has to live somewhere, and that somewhere has to be secured.
Competition then went cross chain. Four.Meme rose on BNB Chain and, in one signal moment, flipped Pump.fun in daily revenue as Binance ecosystem memecoins caught their own wave. SunPump ran the model on Tron. Moonshot courted safety conscious users with audited contracts. Raydium, watching its former partner build a competing exchange, shipped its own LaunchLab. Every general purpose chain now has at least one bonding curve launchpad, because the model is simple to copy and the fees are irresistible: the platform earns on every trade in every casino game, win or lose.
The economics explain the durability. A launchpad monetizes activity, not quality. Creation fees, trading fees on the curve, and graduation fees add up across millions of launches into revenue that rivals the largest protocols in crypto, all without the platform taking token risk itself. Critics call the model extractive, a house that profits from churn while the overwhelming majority of its tokens go to zero. Defenders answer that the platform sells exactly what it advertises, instant markets, and that no one is misled about the odds. Both descriptions are accurate.
What the launchpad era changed about token launches Zoom out and the permissionless model altered three structural facts about crypto markets. First, it collapsed the cost of asset creation to effectively zero, which moved the scarce resource from capital to attention. When anyone can mint a token in a minute, tokens themselves are worthless by default, and value concentrates in whatever can gather and hold a crowd: a meme, a personality, a moment. The launchpad era is the attention economy with a price feed attached.
Second, it inverted the disclosure model. The curated era tried to make issuers trustworthy through vetting; the permissionless era abandoned trust and substituted transparency, publishing every wallet, every trade, and every creator action on chain and letting buyers do their own forensics. The tooling ecosystem that grew around launchpads, holder scanners, bundler detectors, creator wallet trackers, is the market’s answer to a world where nobody checks anything before launch, so everyone must check everything after.
Third, it turned launch mechanics into a competitive product category. Fee structures, creator revenue sharing, buyback programs, graduation thresholds, and anti sniping features now iterate week by week across competing platforms, the way exchanges once competed on maker fees. Some experiments push value back to communities, like fee recycling into ecosystem tokens. Others push it to creators, paying them a share of trading fees to keep launching. The direction of the iteration matters more than any single feature: launch infrastructure has become a business in its own right, larger by revenue than most of the projects that launch on it.
The risk landscape The launchpad world’s risks divide by model. On permissionless platforms, the headline number tells the story: analyses of Pump.fun activity found that around 98.6 percent of launched tokens exhibited rug pull characteristics or died worthless, and the platform’s own founders concede that soft rugs, where a creator simply abandons a token and sells whatever they hold, cannot be prevented technically. Add sniping, bundled wallet accumulation, coordinated pump groups, copycat tickers designed to catch fat fingered buyers, and livestream stunts engineered for attention, and the picture is clear: the permissionless arena is adversarial by default, and every participant should assume the other side of their trade knows something they do not.
Curated platforms carry subtler risks. Vetting varies from rigorous to cosmetic, and a platform paid by projects to launch has a structural conflict when deciding what passes review. Allocation tiers push users to buy and stake platform tokens, concentrating risk in the venue itself. Vesting schedules on presale tokens defer insider supply into the future, where it lands on whoever is holding at unlock time. And the legal environment remains live: the category has drawn class action lawsuits, and the United Kingdom’s regulator blocked access to Pump.fun outright, part of a broader regulatory reckoning over whether instant token factories fit inside any existing framework. Distribution methods sit on a spectrum of scrutiny, from structured sales at one end to free airdrops at the other, and launchpads occupy the most commercially aggressive part of that spectrum.
None of this makes the category untouchable. It makes it a venue where risk is priced by attention, and where the checklist below does more work than in any other corner of crypto.
How to evaluate any launch Before touching a curated sale, read the token’s full vesting table and compute what percentage of supply insiders hold, at what cost basis, unlocking on what dates. Check who audited the contracts and whether the audit is public. Investigate the launchpad’s track record: how did its last ten launches trade after listing, and after the first major unlock? Confirm what the raised funds are contractually committed to. If the answers are missing, the answers are bad.
Two universal habits complete the toolkit. Verify everything at the contract level, because interfaces lie more easily than chains: the vesting table that matters is the one enforced in code, and the holder distribution that matters is the one visible on chain right now. And watch what launches around you, because launchpad markets move in narrative waves, and a token’s fate usually has more to do with the wave it rides than with anything specific to the token.
Before touching a bonding curve token, check holder concentration first, since a token where a handful of connected wallets hold most of the supply is a trap regardless of its chart. Look at whether the creator’s wallet is accumulating or distributing. Treat graduation as a checkpoint, not a guarantee, because plenty of tokens rug after reaching open trading. Size positions on the assumption of total loss, because the base rate says that assumption will usually be correct. And treat social proof as a manufactured commodity, because on launchpads, it is: engagement, holders, and volume can all be bought for less than the profit of one successful exit.
The meta lesson spans both worlds. A launchpad organizes access to new tokens; it does not underwrite them. The most polished launch process on the most reputable platform still delivers an asset whose value depends entirely on what it is and who wants it. The machine that creates markets in ninety seconds is real, impressive, and permanently indifferent to whether any particular buyer walks away richer.
Frequently asked questions What is a crypto launchpad? A crypto launchpad is a platform where new tokens are created, distributed, and first sold. Curated launchpads screen projects and run structured early sales for investors, while permissionless launchpads such as Pump.fun let anyone create a token instantly and trade it through an automated bonding curve.
What is the difference between an ICO, an IEO, and an IDO? All three are token sale formats. An ICO is a direct sale by the project itself, an IEO is a sale hosted and vetted by a centralized exchange, and an IDO is a sale conducted through a decentralized exchange or launchpad, with tokens typically becoming tradable on chain immediately after.
What is a bonding curve? A bonding curve is a pricing formula inside a smart contract that acts as a token’s first market. Buyers purchase from the curve and each purchase raises the price; sellers sell back into it and lower the price. It gives new tokens instant liquidity without an order book or market maker.
What does graduation mean on Pump.fun? Graduation is the moment a token’s bonding curve reaches its target value and the accumulated funds move automatically into a liquidity pool on an open exchange. The token then trades freely outside the launchpad. Most tokens never reach graduation.
What is a fair launch? A fair launch distributes all supply through the same public mechanism at the same starting terms, with no presale, no team allocation, and no vesting. It removes insider pricing advantages, though bots and early snipers still gain an edge in the opening moments.
Are launchpad tokens safe to buy? They carry elevated risk in both models. Analyses have found that the overwhelming majority of tokens on permissionless launchpads end up worthless or exhibit rug pull behavior, while presale tokens carry insider unlock overhangs. Position sizing that assumes total loss is the prudent baseline.
How do launchpads make money? Primarily through fees: token creation fees, trading fees on bonding curve activity, graduation or listing fees, and in curated models, charges to projects and revenue tied to the platform’s own token. Launchpads earn on activity regardless of whether individual tokens succeed.
Why do some launchpads require staking their token? Tiered access models grant larger sale allocations to users who hold or stake the platform’s native token. The design rations scarce allocations and, by requiring the stake, creates ongoing demand for the launchpad’s own token.
This article is for educational purposes only and does not constitute financial or investment advice. Launchpad mechanics, fees, and platform details change frequently. Details are accurate as of July 14, 2026.
NOXA Goes Dark on Robinhood Chain@Noxa_Fi, the top token launchpad on Robinhood's new Layer 2 blockchain, has been unreachable after its web domains went offline. As of the time of writing, the platform's website remains down, triggering a wave of FUD across the Web3 community about the protocol's reliability.
The outage was attributed to a Cloudflare issue, though the official website has remained inaccessible. NOXA has since acknowledged the situation on social media, stating that new interfaces on ENS (Ethereum Name Service) are almost ready, asking users to hold on while the team works to restore access.
Unlike traditional bonding curve launchpads, NOXA uses a hybrid model where tokens are immediately tradeable on Uniswap V3 from the moment they are created, with liquidity locked permanently. NOXA launches tokens directly on Uniswap V3 with no LP migration, while Pump.fun uses a bonding curve that requires liquidity to migrate to a DEX at graduation.
A Launchpad That Outpaced Pump.funBefore the outage, NOXA had built a remarkable early track record on @RobinhoodCrypto's chain. The platform surpassed Pump.fun in daily token launches and amassed $2.79M in fees, according to data from Dune Analytics. At its peak, NOXA generated $1.94 million in protocol fees over a single 24-hour period, while Solana's Pump.fun recorded $1.61 million during the same window, according to DeFiLlama data.
NOXA holds over $5.2 million in total value locked on Robinhood Chain and has been the primary launchpad for the network's memecoin ecosystem since launch. That rapid ascent is in part a reflection of the broader frenzy around @RobinhoodCrypto's new network. Robinhood Chain, launched July 1 to host tokenized stocks, has quickly become one of crypto's busiest new networks, with around $312 million in total value locked and 3.6 million daily transactions, though memecoins rather than tokenized real-world assets have dominated activity so far.
Robinhood Chain is a Layer 2 blockchain built on Arbitrum and designed for tokenized real-world assets and decentralized finance applications. Yet the memecoin wave has given early-mover platforms like NOXA an outsized role in shaping the chain's initial identity.
The domain outage now puts that position at risk. With the ENS-based interface still in progress, users and developers are left in limbo, and the credibility questions being raised could prove costly in a space where trust is fragile and competition is only a deploy away.
Sources:
Odaily: Robinhood Chain Meme Launchpad NOXA Surpasses Pump.fun in Protocol Fees
CoinDesk: Robinhood Built a Blockchain for Tokenized Stocks, Memecoins Took Over
CoinDesk: Robinhood Rolls Out Public Blockchain
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Despite negative factors such as the US-Iran geopolitical conflict and Strategy’s sell-off, Bitcoin, which had maintained the $62,000 support level, experienced a surge after US inflation data came in below expectations and approached $64,000.
However, this may not be a signal that the upward trend has reversed.
At this point, Wintermute analysts stated that Bitcoin has passed its worst period, but a trend reversal has not yet been confirmed.
In their latest weekly review, cryptocurrency market maker Wintermute analysts analyzed that despite negative factors such as the US-Iran geopolitical conflict and Strategy’s BTC sales, Bitcoin held onto the $62,000 support line, but a full recovery has not yet been confirmed.
Wintermute noted a significant development: an eight-week streak of outflows from spot BTC ETFs has finally turned into inflows. However, analysts caution that a single week of inflows should not yet be considered the start of a new uptrend.
According to Wintermute, two preconditions were expected for a market recovery and bottom formation: “A stable market structure that prevents chain reactions of liquidations amid bad news, and an improvement in spot ETF flows.” Both of these have now been met.
The fact that Strategy’s BTC sales had almost no effect on the market and that the $62,000 support level was maintained is also seen as a positive sign for a bottom formation.
Despite these criteria being met and the downtrend being broken, Wintermute argues that it’s necessary to wait before saying the market has entered a recovery phase.
He stated that there are important variables to watch to determine if the recovery is continuing and if the trend is changing. These are listed as “US CPI data and the subsequent stance of the Fed, whether BTC ETF inflows will continue, and the situation regarding the Strait of Hormuz.”
According to analysts, lower CPI, a more domineering Fed, sustainable ETF inflows, and progress on the Clarity Act could trigger a real recovery.
“So the current situation points to a market that has halted its decline but hasn’t yet begun to recover. The catalysts are the CPI data, the expected lack of continued ETF inflows, and the situation in the Strait of Hormuz until Monday’s oil opening.”
Wintermute concluded that Bitcoin appears to have halted its downward trend for now, but it’s too early to say a strong uptrend has begun. The market’s direction will become clearer in the coming days depending on upcoming macroeconomic data and whether investor interest continues.
*This is not investment advice.
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GnuVPN is a privacy VPN that does two things most rivals do not: it takes your money in crypto, and it gets you online where VPNs are blocked.
Pay in USDT (TRC20), Bitcoin, or Litecoin, and your subscription never has to touch a bank card. Connect through SoftEther, and your traffic slips past firewalls that shut other VPNs out. That combination is rare, and it is the reason GnuVPN stands apart from the household names.
A Google MASA Level 2 review on its Android app and an automatic kill switch round out the case.
Here is how it holds up.
What Is GnuVPN? A Protocol-First VPN Explained Table of Contents
What Is GnuVPN? A Protocol-First VPN ExplainedHow Can You Pay for GnuVPN With Crypto?What Protocols Does GnuVPN Use?Is GnuVPN Safe? Security and Privacy AnalysisServers, Speed and PlatformsDoes GnuVPN Work for Gaming?GnuVPN Pros and ConsWho Should Use GnuVPN?Verdict: Is GnuVPN Worth It?FAQCan I pay for GnuVPN anonymously with cryptocurrency?Does GnuVPN work in China or other countries with heavy censorship?Why pay for a VPN with USDT instead of Bitcoin?How many devices can I use with one GnuVPN subscription?Can I use GnuVPN on Huawei devices without Google services? GnuVPN is a privacy VPN that encrypts your connection, hides your IP address, and accepts cryptocurrency for payment. It is run by GNUAPP UNIPESSOAL LDA, a company registered in Portugal, which places it under GDPR, one of the stricter privacy regimes.
The service leans on protocol flexibility. It offers a wider spread of connection protocols than most rivals, with SoftEther as the headline feature, and it keeps payment private through crypto.
That focus shapes who it suits. GnuVPN works best for people who want private payment, need a connection that holds up on restrictive networks, or want strong protocol choice in one app.
Apps cover Windows, macOS, iOS, Android, and Linux, with support for up to five devices on one subscription. It is also one of the few VPNs on the Huawei AppGallery and Xiaomi GetApps, not just Google Play and the App Store. Here is the short version:
Feature Detail Operator GNUAPP UNIPESSOAL LDA (Portugal) Payments Crypto (USDT-TRC20, TRON, BTC, LTC), cards, PayPal Protocols SoftEther, AmneziaWG, WireGuard, OpenVPN, IKEv2 Servers 55+ countries Devices 5 simultaneous Available on Google Play, App Store, Huawei AppGallery, Xiaomi GetApps Certification Google MASA Level 2 (Android app) How Can You Pay for GnuVPN With Crypto? Crypto payment is where GnuVPN pulls ahead of most rivals. Plenty of VPNs take Bitcoin and stop there. As a VPN that accepts crypto more broadly, GnuVPN takes USDT (TRC20), TRON, Bitcoin, and Litecoin, so you can pay with the coins you actually hold.
USDT (TRC20) is the standout. It settles fast and carries low fees, which makes paying for a VPN with USDT a practical option, not just a token gesture toward crypto users.
For anyone who would rather not tie a VPN to a bank card, that flexibility matters. It keeps your payment separate from your identity, and the site walks you through the process with step-by-step guides for paying through Binance.
GnuVPN pricing is simple, and the long plans bring the monthly cost down:
2-year: $2.79/month, billed as $66.99 upfront 1-year: $3.49/month, billed as $41.99 upfront 6-month: ~$4.50/month, billed as $26.99 upfront 1-month: $13.99, billed monthly GnuVPN also runs a referral program. Invite friends, and you earn 10% to 30% of what they spend as points, worth one cent each, which you can put toward renewals. Points transfer between accounts, and you do not need an active subscription to start earning.
GnuVPN checkout page for VPN subscriptions. Source: GnuVPN
What Protocols Does GnuVPN Use? GnuVPN offers five protocols, two of which almost no mainstream rival carries:
SoftEther: disguises VPN traffic as ordinary HTTPS, so firewalls watching for VPNs see routine web browsing. A SoftEther VPN gets through school, office, and national filters that block other protocols, and this is GnuVPN’s standout. AmneziaWG: a modified WireGuard that scrambles its traffic shape to dodge detection, keeping WireGuard’s speed while adding disguise. The lighter option when a network still needs some obfuscation. WireGuard: the fast, modern default for everyday browsing, streaming, and general use. OpenVPN: the long-trusted standard, valued for broad compatibility and reliability. IKEv2: the mobile-friendly choice that holds steady when you switch between Wi-Fi and data. Is GnuVPN Safe? Security and Privacy Analysis GnuVPN’s security holds up well for a service its size, and it has one credential most small VPNs lack. Its Android app carries Google’s MASA Level 2 certification, an independent security review by an authorised lab under Google’s App Defense Alliance.
MASA checks the app itself, including how it handles encryption, permissions, and data. It is a real, independent tick that most rivals never obtain.
On privacy, GnuVPN states that it does not collect browsing history, traffic content, or DNS queries, and does not keep connection logs such as assigned IP addresses or session times. Its Portuguese base places it under GDPR, which sets a high bar for how it handles user data.
The apps also ship with a kill switch. If the connection drops, it blocks internet traffic so your real IP does not leak while you reconnect.
User feedback backs this up. GnuVPN holds a 4.5-star rating across roughly 21,400 reviews on Google Play, which points to a stable experience for the bulk of its users.
Servers, Speed and Platforms GnuVPN runs servers in 55+ countries and adds new locations regularly, across Europe, the Americas, and Asia. The network is smaller than the household names, but it covers the major regions most users connect through.
Speed is solid on nearby servers, where WireGuard and AmneziaWG keep overhead low. As with any VPN, expect some drop on servers farther away, though everyday browsing and streaming hold up well.
Platform support is one of GnuVPN’s quiet strengths. It covers desktop and mobile, and reaches app stores that many rivals skip:
Desktop: Windows (including older versions), macOS, and Linux (Ubuntu and Debian) Mobile: iOS and Android App stores: Google Play, Apple App Store, Huawei AppGallery, and Xiaomi GetApps One subscription covers five devices at once, enough for most households to run phones, laptops, and a tablet together.
Does GnuVPN Work for Gaming? GnuVPN markets itself to gamers, and the honest picture is that it helps in specific ways and does not simply lower your ping. What it does well is protect and stabilise the connection around your play.
The clearest benefit is protection. A VPN hides your real IP address, which shields you from DDoS attacks during ranked play and online tournaments. For esports players, that alone can be reason enough.
It also helps you get around ISP throttling, and the server network lets you reach games and cloud gaming platforms in other regions, whether that is an earlier release, a different matchmaking pool, or a title tied to another country.
GnuVPN’s key features include low latency, multi-platform compatibility, global server coverage, and privacy-focused security. Source: GnuVPN
GnuVPN Pros and Cons Every VPN involves trade-offs. Here is where GnuVPN lands after testing its features, protocols, and pricing.
Pros
Crypto payments: USDT-TRC20, TRON, Bitcoin, and Litecoin, with Binance guides SoftEther and AmneziaWG: two obfuscation protocols almost no mainstream rival offers Google MASA Level 2: an independent security review of the Android app Automatic kill switch: blocks traffic if the connection drops, so your real IP never leaks Gaming protection: hides your IP against DDoS and helps bypass ISP throttling Wide platform reach: Windows, macOS, Linux, iOS, and Android On Huawei AppGallery and Xiaomi GetApps: available where most major VPNs are not GDPR coverage: a Portuguese base under one of the stricter privacy regimes Cons
Smaller server network than the household names, at 55+ countries Five device limit, where some rivals offer more SoftEther is strongest on Android, so protocol choice varies by platform Who Should Use GnuVPN? GnuVPN is not built to be all things to all people, and that focus makes it an easy call for some users.
It is a strong choice if you value private payment. If you would rather pay in USDT, TRON, Bitcoin, or Litecoin than hand over a card, few VPNs make that as easy.
It also suits anyone who connects through networks that block VPNs. Students on campus Wi-Fi, employees behind corporate firewalls, and travellers in filtered regions benefit directly from SoftEther and AmneziaWG. Gamers get real value too, through IP protection against DDoS and access to servers in other regions.
It is less of a fit if your main priority is a vast server network or a high device count. The household names still lead on raw scale. For the right user, though, GnuVPN offers something they do not: private payment and a connection that keeps working where others get blocked.
Verdict: Is GnuVPN Worth It? GnuVPN knows exactly what it is. It focuses on private payment and protocol flexibility, and it delivers both better than most services its size.
For crypto users, the appeal is direct: pay in USDT, TRON, Bitcoin, or Litecoin, keep your identity separate from your subscription, and get a MASA-reviewed app with a kill switch on top.
For anyone on a restrictive network, SoftEther and AmneziaWG are genuine tools, not marketing lines. At $2.79 per month, the package holds together well.
It will not suit everyone. If you want the largest server network or a high device count, the household names still lead. But for private payment, privacy on restrictive networks, and protected play, GnuVPN offers something genuinely its own.
FAQ Can I pay for GnuVPN anonymously with cryptocurrency? You can pay in USDT (TRC20), TRON, Bitcoin, or Litecoin, which keeps your subscription separate from a bank card or PayPal account. That adds a layer of separation between your identity and your VPN use. GnuVPN provides step-by-step guides for paying through Binance if you are new to crypto payments.
Does GnuVPN work in China or other countries with heavy censorship? SoftEther is built for exactly this. It disguises VPN traffic as ordinary HTTPS, which helps it get through national firewalls that block standard protocols. No VPN can promise permanent access, since filters change constantly, but GnuVPN’s obfuscation protocols give it a better chance than services relying on WireGuard or OpenVPN alone.
Why pay for a VPN with USDT instead of Bitcoin? USDT (TRC20) settles quickly and carries low transaction fees, which makes it practical for a recurring subscription. It is also a stablecoin, so its value does not swing between the moment you pay and the moment it clears. GnuVPN accepts both, so the choice is yours.
How many devices can I use with one GnuVPN subscription? One subscription covers five devices at the same time, across Windows, macOS, Linux, iOS, and Android. That is enough for most people to protect a laptop, a phone, and a tablet together, or to share a plan across a small household.
Can I use GnuVPN on Huawei devices without Google services? Yes. GnuVPN publishes directly to the Huawei AppGallery and Xiaomi GetApps, so you can install it on devices that lack Google Play. Most major VPNs skip these stores entirely, which makes GnuVPN a practical option for Huawei and Xiaomi users.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
CleanSpark, the Nasdaq-listed bitcoin miner, said on July 14 that it has signed a 20-year infrastructure lease with an unnamed high-investment-grade global technology company at its campus in Sandersville, Georgia.
The deal marks the firm’s largest step from pure bitcoin mining toward high-performance computing for hyperscale clients.
The lease covers data center infrastructure that will support 175 megawatts of critical IT load. CleanSpark expects the initial term to generate $6.6 billion in contracted revenue, a figure that would climb to $11.6 billion if the tenant exercises both extension options.
The company has recently announced that it would repurpose part of its electricity capacity and mining infrastructure to power AI data centers, aiming to diversify beyond bitcoin mining.
CleanSparks’ average annual net operating income from the agreement should reach $330 million. First deliveries are due in the fourth quarter of 2027.
In a further sign of the tenant’s appetite, the two sides executed a letter of intent and an exclusivity arrangement covering CleanSpark’s entire Texas portfolio, a base of up to 885 megawatts of secured and planned power capacity. Should that convert into firm contracts, CleanSpark’s transition into an infrastructure landlord for artificial-intelligence and cloud workloads would deepen.
CleanSpark holds 13,924 bitcoin The announcement lands as CleanSpark’s core mining business posts records. The company produced 614 bitcoin in early July and lifted its operational hashrate to 50 exahashes per second, a company high.
Treasury holdings rose to 13,924 bitcoin, one of the larger corporate stashes among public miners. Management has kept much of its mined bitcoin rather than sell into the market, a bet on the asset’s long-term price.
Wall Street has warmed to the compute pivot. Citizens began coverage with an Outperform rating and a $27 price target, citing the shift toward hyperscale compute capacity. Chardan lifted its target to $19 from $16 and kept a Buy rating. Both notes framed the Sandersville lease as proof that CleanSpark can monetize its power and land assets beyond mining, where margins swing with bitcoin’s price and network difficulty.
Investor reaction has been mixed. Shares of CleanSpark gained more than 20% in pre-market on the news but have since dropped to 9% gains on the day.
The Georgia lease offers somewhat of a hedge. Contracted rent from a creditworthy tenant provides a revenue stream that does not rise and fall with hash prices, while the company keeps its mining fleet and bitcoin treasury intact.
The next test is execution: bringing 175 megawatts online before the close of 2027 and turning the Texas letter of intent into signed leases.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
CleanSpark just locked in one of the most lucrative deals in Bitcoin mining history, and it has almost nothing to do with Bitcoin. The company announced a 20-year triple-net lease agreement for its data center in Sandersville, Georgia, with a high-investment-grade global technology firm. The projected revenue: $6.6 billion over the initial term, with an extension pathway that could push the total to $11.6 billion.
Inside the deal The lease covers a critical IT load of 175 megawatts at CleanSpark’s Sandersville campus, designed to support AI and high-performance computing workloads. First deliveries from the facility are scheduled for Q4 2027.
CleanSpark projects an average annual net operating income of approximately $330 million from this single lease, at what the company describes as nearly 100% profit margin.
The tenant’s identity remains undisclosed, though CleanSpark characterized the partner as a “high-investment-grade global technology firm.”
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Beyond Sandersville, the agreement includes a letter of intent granting exclusivity rights to CleanSpark’s Texas portfolio. That portfolio spans 718 acres across its Sealy and Brazoria campuses, encompassing up to 885 megawatts of power capacity. If that LOI converts to a binding agreement, the total revenue potential climbs toward that $11.6 billion figure.
Construction costs are estimated at $10 to $12 million per megawatt. CleanSpark controls over 1.8 gigawatts of total power capacity across its operations.
Why Bitcoin miners are becoming AI landlords CEO Matt Schultz framed the deal as validation of CleanSpark’s strategic focus on land and power management, describing it as a “transformative development” that exemplifies the company’s second-mover advantage in digital infrastructure.
Core Scientific’s deal with CoreWeave, announced in 2024, was one of the first major Bitcoin-miner-to-AI conversions that grabbed headlines. CleanSpark’s $6.6 billion headline figure, with the potential to nearly double, represents a significant escalation in the scale of these agreements.
What this means for investors CleanSpark’s stock surged approximately 10% following the announcement. In a NNN lease, the tenant covers property taxes, insurance, and maintenance costs on top of rent, meaning the $330 million NOI projection is relatively insulated from cost inflation.
At the estimated $10 to $12 million per megawatt, the Sandersville buildout alone could cost between $1.75 billion and $2.1 billion.
The company currently controls over 1.8 gigawatts of power, so 175 megawatts represents less than 10% of its total capacity. If the Texas LOI converts and another 885 megawatts shifts toward AI hosting, the company’s identity as a Bitcoin miner becomes increasingly nominal.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bull Bitcoin, a prominent Bitcoin-only non-custodial exchange, has initiated a legal challenge against the European Union’s DAC8 directive. This directive, which took effect on January 1, 2026, mandates that cryptocurrency service providers disclose user identities and transaction data to tax authorities across the EU. Bull Bitcoin argues that such measures create a mass surveillance environment that could jeopardize the privacy and safety of millions of EU residents. The exchange has filed this challenge with France’s Conseil d’État, marking the first legal opposition to the directive’s implementation. Additionally, Bull Bitcoin has raised concerns that similar regulatory measures could be introduced in the United States and Canada.
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Key Takeaways Bull Bitcoin’s legal challenge against the DAC8 directive appears to highlight concerns over privacy and data security in the EU. The warning of similar regulations in the US and Canada suggests potential future implications for North American cryptocurrency markets. Markets may interpret this legal action as consistent with increased investor confidence in Bitcoin’s regulatory outlook. What to Watch Observers should monitor the progress of Bull Bitcoin’s legal challenge in France, as a favorable outcome could influence similar actions in other jurisdictions. Additionally, any legislative developments in the US and Canada regarding cryptocurrency regulations could further impact market sentiment. If these regions adopt comparable measures, it could affect the broader regulatory landscape and market dynamics for Bitcoin.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 1.9% — — View market → December 31 2% — — View market → December 31 2.7% — — View market → December 31 3.3% — — View market → December 31 5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 28.5% — — View market → January 1 2027 5.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 1.9% — — View market → January 1 2027 3.1% — — View market → January 1 2027 3.8% — — View market → January 1 2027 5.5% — — View market → January 1 2027 54.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.4% — — View market → January 1 2027 37.5% — — View market → January 1 2027 18.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 3.6% — — View market → January 1 2027 2.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 1.1% — — View market → January 1 2027 0.9% — — View market → January 1 2027 12.5% — — View market → January 1 2027 25.5% — — View market → January 1 2027 31.5% — — View market → January 1 2027 50.5% — — View market → January 1 2027 74.5% — — View market →
Brian Armstrong put a simple question to around 27,000 people on X. The answer was uncomfortable, and the market is backing it up.
Brian Armstrong does not usually run polls. When the Coinbase CEO does, the crypto market pays attention.
On Tuesday morning, he posted a question to his followers on X: "Is the bottom in?" With around 27,000 votes cast and 12 hours remaining, 56.3 percent said no. Only 43.7 percent believed the worst was behind them.
The timing was pointed. Bitcoin had slipped below $62,000 overnight, down 3.27 percent from the previous day, as US-Iran military tensions flared again over the weekend and oil prices jumped roughly 10 percent on fresh restrictions on Iranian shipping.
Risk assets broadly took the hit, and Bitcoin, sitting nearly 50 percent below its all-time high of $128,000, had less room to absorb it.
What the market is watchingThree events this week are pulling Bitcoin in different directions simultaneously. The June CPI print landed Tuesday, analysts expected it to slow to 0.2 percent from 0.5 percent in May, with annual inflation projected to fall to 3.8 percent.
A soft print revives rate-cut hopes. A hot one keeps rates elevated and risk appetite compressed.
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The Fed meets July 28 and 29. Fed Governor Christopher Waller has already warned that another strong inflation reading could push the central bank toward tighter policy, and the odds of a September rate hike jumped to 51.6 percent on the CME FedWatch Tool.
Trending on TheStreet RoundtableDonald Trump breaks silence on $1B crypto earningsMichael Saylor reveals why Strategy sold Bitcoin and why critics are wrongBillionaire investor reveals key reasons behind Bitcoin's declineFor Bitcoin, which trades as a risk asset in rising-rate environments, that signal matters more than almost anything else on the calendar.
Where the key levels sitFidelity's power-law support line sits at approximately $56,500, meaning Bitcoin could fall around 9 percent from current levels before reaching that floor.
Below that, some analysts have flagged $49,867, the -1.0 MVRV band, as the level that would constitute a genuine major buy signal.
Losing $60,000 cleanly remains the line most traders are watching. Armstrong's poll suggests the majority of the market is not convinced that line will hold.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin ETFs are experiencing their worst hemorrhage in months: $425 million outflows in 24h. Meanwhile, altcoins are soaring. Is the crypto market about to shift? Between institutional fear and the revival of alternatives, it is time for strategic choices.
In brief With $425 million outflows in 24 hours, Bitcoin ETFs have recorded $5.8 billion since January 2026. Altcoins benefit from Bitcoin’s current weakness, with a rising ETH/BTC ratio. The market is in extreme fear, but whales are accumulating. Rebound or collapse? In a Single Day, Bitcoin ETFs Lose $425 Million Bitcoin ETFs just experienced a black day with $424.66 million net outflows on July 13, 2026, wiping out the timid recovery of the previous week (+$197.4 million). This move is part of a heavy trend where $5.8 billion has been withdrawn from these ETFs since January. Yet assets under management remain colossal at $74.79 billion.
Bitcoin ETF outflows. Despite these massive outflows, the number of Bitcoin whales keeps growing. Is it a stealth accumulation or a last breath before a harsher crash? Especially since the Fear & Greed Index is currently at 22 (Extreme Fear), confirming the gloomy mood. Bitcoin price having already dropped 30% since the start of the year, the $50,000 level is critical for what’s next.
As BTC Collapses, Altcoins Begin to Rise Again As Bitcoin ETFs falter, altcoins take their revenge. According to Tom Lee, the recent break of the ETH/BTC ratio marks a turning point. Investors are turning to altcoins, seen as more dynamic and less exposed to institutional outflows. This rotation is explained by several factors:
Ethereum ETFs attract positive inflows, unlike those of Bitcoin; DeFi and AI projects (e.g., Solana, Chainlink) attract interest due to their concrete utility, far from pure speculation; The Ethereum halving planned in 2027 revives hope for medium-term appreciation. However, this altcoin revival is not without risk. Indeed, the market remains correlated with Bitcoin. A sudden drop in BTC would mechanically drag other cryptos in its wake. Should this be seen as smart diversification… or a liquidity trap?
Bitcoin ETFs tremble, altcoins shine. Should you flee or buy the panic? One thing is certain, the crypto market has never been so polarized. And you, do you prefer the security of traditional ETFs or the risky bet of altcoins on the rise?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Memecoins traded on Binance have experienced $1.21 billion in net selling since Bitcoin‘s all-time high in October 2025, according to data from analytics firm CryptoQuant. The downturn reflects changing risk appetite among crypto traders after the broader market correction.
Binance data highlights heavy selling in meme tokensCryptoQuant, a blockchain analytics company, reported that the net volume of memecoins listed on Binance has fallen to negative $1.21 billion since Bitcoin reached its peak last October. This figure, highlighted by analyst Darkfost, measures the difference between buy and sell activity within the sector over that period.
Data from CryptoQuant points to ongoing selling pressure on the riskiest digital assets, with the net outflows from Binance-listed memecoins indicating persistent caution among investors since Bitcoin’s most recent all-time high.
A negative net volume shows that total sell orders outpaced buy orders, suggesting traders have been moving away from meme-themed coins as market volatility increased. Despite sporadic upswings, net selling remains the dominant theme in recent months.
Memecoins, which are typically known for sharp price moves driven by liquidity and short-term enthusiasm, continue to be among the most unpredictable corners of cryptocurrency trading. Binance, as one of the largest global crypto exchanges, frequently reflects wider trends due to its high trading volumes.
Although the net data suggests overall outflows, some tokens buck the trend during temporary hype cycles or major announcements, but sustained demand across the sector has been limited since the market correction began.
MetricValueReference PeriodMemecoin net volume on Binance-$1.21 billionSince Oct. 2025 BTC peakBitcoin price change-50%+Since Oct. 2025 peakCASHCAT market cap~$138 millionCurrentBitcoin’s decline pressures risk-focused assetsAnalyst Darkfost connected the ongoing outflows to a drop in demand for risk assets, as Bitcoin now trades more than 50% below its high from October 2025. This sharp decline has altered risk perceptions throughout the crypto market, leading investors to reduce allocations to more volatile assets like memecoins.
Since Bitcoin hit its last all-time high, a difficult environment for risk assets has taken hold, pushing Bitcoin more than 50% below its peak and triggering outflows from meme-themed cryptocurrencies.
Memecoins often underperform during market corrections because of their high risk and sensitivity to liquidity flows. Traders typically scale back exposure to such speculative tokens when sentiment weakens or larger assets lose momentum.
The Binance outflow data is consistent with this broader pattern. As Bitcoin’s price trajectory has shifted, participants on major exchanges have turned away from meme tokens, resulting in negative net volumes across the sector.
Robinhood Chain adds short-term interestDespite the overall outflow, the memecoin sector briefly recovered attention following the launch of Robinhood Chain, a new blockchain project by the trading platform Robinhood. Analyst commentary suggested that new blockchain initiatives can temporarily revive demand for emerging tokens, leading to short-lived trading booms.
CASHCAT stood out as an example amid this renewed interest, reaching a market capitalization of around $138 million. This uptick demonstrates that, even in a bearish market, specific projects can capture investor attention if backed by fresh developments or novel narratives.
Still, exchange data underline the risks faced by memecoins. While new trends may generate bursts of demand, the broader sector remains exposed to swift declines, making ongoing monitoring of Bitcoin, Binance trading flows, and new token launches important for traders seeking to navigate volatile markets.
Mini dictionary: Robinhood Chain, a blockchain developed by Robinhood to facilitate decentralized trading and token transfers, aims to enable lower-cost transactions and support for new assets. The move marks Robinhood’s entry into blockchain network operations, seeking to broaden its reach in the crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin open interest across leading centralized exchanges remains significantly below the record levels set during the market’s 2025 peak. Latest figures place open interest at $21.75 billion, marking a 54% decrease from the all-time high of $47.58 billion recorded on October 6, 2025— the day Bitcoin reached its peak price.
Market participants remain cautiousFor the past four months, open interest has hovered near the lows seen in March. This trend indicates most traders have avoided returning to aggressive leveraged Bitcoin positions, opting instead for a cautious approach after last year’s market downturn.
Analysts noted that leverage-driven speculative activity remained muted despite stabilization in Bitcoin’s price. Rather than taking on higher risk via futures markets, participants appear to be positioning defensively.
Compared to past cycles, this period shows both price and open interest declining in tandem, pointing to a coordinated pullback in market exposure instead of widespread forced liquidations.
Exchanges reveal mixed trendsExchange data shows diverging trends. Binance, the largest cryptocurrency exchange by trading volume, grew its share of total Bitcoin open interest to around 35%. However, this gain did not come from an influx of new leveraged bets. In the last 30 days, open interest at Binance fell 13%, and declines were even sharper on competing platforms—allowing Binance’s relative share to increase as overall activity dropped.
Bybit was the outlier among major exchanges, posting a 10% rise in Bitcoin open interest in the same period. Meanwhile, Deribit’s Bitcoin options market activity remained subdued, suggesting traders are not moving risk exposure from perpetual futures to options markets at this stage.
Ethereum, the second-largest cryptocurrency, displayed a similar pattern. While open interest briefly spiked between July 4 and July 6, it soon retreated to previous levels. XRP, another major token, recorded the weakest derivatives activity, with open interest dropping 82% from its high last summer, reaching the lowest point in the current dataset.
Mini dictionary: Bybit is a centralized cryptocurrency exchange established in 2018, offering spot and derivatives trading for a wide range of digital assets. It is recognized for its active futures market and innovative trading features.
ExchangeChange in Bitcoin Open Interest (30 days)Market ShareBinance-13%35%Bybit+10%Not specifiedOther Major ExchangesSteeper declinesNot specifiedOpen interest and market structurePrevious Bitcoin cycles have typically seen a rapid rebound in open interest and leverage soon after major price corrections, as traders return to the market to chase price action. Yet, the current cycle is notable for its low leverage, with both spot prices and open interest falling by roughly 50% since October’s highs.
Markus Thielen, a respected crypto analyst, presented a recent chart highlighting these trends. The chart showed open interest decreasing in line with price, while the funding rate, which influences the cost of holding leveraged positions, swung sharply from -12.6% to +7.1% during the volatility.
If leverage remains at these subdued levels, future Bitcoin price movements could be driven more by spot market demand than by speculative activity in futures, potentially altering the market’s recovery pattern compared to previous cycles.
Derivatives reset after record highsThe sharp reset in Bitcoin futures open interest—from $42 billion in October 2025 to $21 billion—signals a significant pullback in market positioning. This reduction reflects a more measured stance among traders, and may reduce the risk of sudden, widespread liquidations if prices remain volatile.
Traders have shown little desire to rebuild large leveraged positions, keeping Bitcoin open interest at historically low levels despite recent price stabilization.
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.
On the 14th of July, the US government transferred about $288.33 million worth of Bitcoin and Ethereum to Coinbase Prime. According to Arkham Intelligence, the deposits were linked to three different criminal forfeiture cases.
Source: Arkham Among them were darknet drug trafficker Ryan Farace (“Xanaxman”), the now-defunct exchange BTC-e, and Brian Krewson, a former Oracle employee connected to a $54 million crypto laundering scheme.
As anticipated, the transfers have garnered attention. A government sale would appear to conflict with US President Donald Trump’s March 2025 executive order establishing the Strategic Bitcoin Reserve.
Will this impact BTC and ETH? On-chain data showed the government did not move the funds in a single transaction.
The much larger $288.33 million batch of Bitcoin [BTC] was transferred a few hours after an earlier, smaller transfer of about $8.78 million.
Combined, the two deposits moved almost $297 million in a single day, making it one of the biggest government-related cryptocurrency movements of the year.
Yet despite the transfer, the wallets still contain about $20.65 billion, which includes 324,552 BTC, 28,394 ETH, and 145.549 million USDT.
Source: Arkham Though this might instill fear of bearish impact on the token, so far, the response has been subdued. In fact, at the time of writing, Bitcoin and Ethereum [ETH] were trading at $62,522.88 and $1,780.83, respectively.
This confirms that large transfers made on Coinbase Prime don’t always affect spot prices like they would in a retail exchange dump because it is an OTC and custody trading venue rather than a public order book.
Sell-off or just routine reshuffling? Nevertheless, this transfer is merely a standard reorganization and does not allude to a sell-off. This is because Coinbase Prime also manages custody, financing, and staking for institutional clients, so simply putting the Farace and BTC-e coins onto an exchange does not guarantee a sale.
Additionally, earlier transfers this year also did not immediately result in obvious exchange selling, and the most recent movement comes after a string of smaller transfers seen throughout 2026.
In June, for instance, the government transferred seized FTX Chainlink tokens to Coinbase Prime, and in May, it transferred seized Alameda altcoins.
However, neither transaction resulted in a verified sale. In January, there were rumors of a Bitcoin sale connected to Samourai, but it never happened after a similar Coinbase Prime deposit.
Meanwhile, on the 17th of June, the Royal Government of Bhutan transferred 533 Bitcoin, valued at $34.5 million, to Binance.
Final Summary The recent whale movement was linked to three different criminal forfeiture cases. Despite the transfer, the wallets still contain 324,552 BTC, 28,394 ETH, and 145.549 million USDT.
Bitcoin is undergoing a silent rotation. Long-term holders distribute part of their supply while a new generation of buyers absorbs BTC around $62,000. The market is not panicking yet. It is digesting a wealth transfer that could prepare the next big move.
In brief Bitcoin sees its supply move from long-term holders to new buyers. The RHODL Ratio signals a compression without major capitulation. The $60,000 area remains decisive for the market’s next steps. Bitcoin: a discreet supply rotation Bitcoin has been stuck between $60,000 and $80,000 for several months. This apparent calm, however, masks a major redistribution. Long-term holders are beginning to transfer part of their supply to new buyers. This movement does not resemble a brutal capitulation.
In 2022, a similar dynamic accompanied the collapse of FTX and the fall of BTC to $15,000. In 2026, the price remains close to $62,000 despite the compression of on-chain indicators. The difference is significant. Coins change hands, but without visible panic. This suggests current buyers consider these levels an acceptable price zone, even a discount compared to the 2025 highs.
The RHODL Ratio from Glassnode compares wealth held by long-term investors to that held by newer participants. At the beginning of July, it reached 6.5, its second highest historical level. The indicator then fell below 6. This drop signals a compression. In other words, the dominance of long-term holders slightly decreases in favor of new entrants.
This kind of movement is often closely monitored. In previous major cycles, a compression of the RHODL Ratio sometimes preceded significant rallies. But context matters. The same data can signal healthy accumulation or risky distribution for bitcoin. Currently, the market seems to hesitate between the two interpretations. Long-term holders sell part of their stock. New buyers absorb. The price, meanwhile, refuses to decide.
New buyers test their conviction This new generation of buyers is not entering an euphoric market. They come in while bitcoin has lost about 50% since its peak near $124,000 in October 2025.
Buying in this zone therefore requires a form of conviction. New entrants do not chase a vertical rally. They bet on stabilization, then a possible recovery after a long phase of apathy.
This can strengthen the market if these buyers become patient. But it can also create fragility. If the price breaks clearly below $60,000, some of this new cohort may sell quickly.
Recent holders are often the most sensitive to unrealized losses. Their behavior will therefore determine the strength of the current support. If they hold, the rotation can become a base. If they flee, it can turn into selling pressure.
The Fed remains the risk that can change everything The main danger now comes from the macroeconomic context. Markets still anticipate a possible monetary tightening by the Federal Reserve in the coming months. An interest rate hike would make risky assets less attractive.
For bitcoin, this scenario could trigger the capitulation many investors are still waiting for. A break below the consolidation zone would reignite selling, especially if long positions are too exposed.
But the absence of capitulation after five months of stagnation is also a signal. The market has absorbed the decline without total collapse. Long-term holders distribute, new buyers absorb, and the structure still holds.
The great rotation of bitcoin is therefore not just a transfer of coins. It is a generational change. BTC accumulated during previous cycles progressively pass to buyers who build their own price reference. If this transition happens without violent shock, it could prepare the next phase of the bitcoin cycle. If the Fed tightens its tone, the market will quickly know if this new generation has strong hands.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The Dragonfly Capital partner says Bitcoin's biggest challenge isn't another cryptocurrency.
The long-running “flippening” debate has returned, but Dragonfly Capital managing partner Haseeb Qureshi does not expect Ethereum to overtake Bitcoin by market capitalization under normal conditions.
Dragonfly is one of crypto's largest venture capital firms, managing billions of dollars across its venture and liquid investment funds.
Speaking with host Sujal Jethwani in a July 13 interview on The Sujal Show, Qureshi said Ethereum is likely to perform well over the long term. However, he argued that Bitcoin now occupies a separate category from every other digital asset.
“I think Ethereum is likely to do well over the long run, but flipping Bitcoin, I think at this point, Bitcoin is in a different league than any other digital asset,” Qureshi said.
Bitcoin’s lead leaves Ethereum with one unlikely pathThe “flippening” refers to a hypothetical moment when Ethereum’s market capitalization surpasses Bitcoin’s.
Qureshi said that outcome remains possible, but only under an extreme scenario involving quantum computing. Powerful quantum computers could eventually threaten the cryptographic systems used to secure blockchain networks if those networks fail to upgrade in time.
“There’s some world where in a post-quantum transition Bitcoin doesn’t make it, they don’t get their shit together in time, and Ethereum does,” he said.
Qureshi added that this was “kind of the only way” he could imagine Ethereum overtaking Bitcoin.
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His view suggests Bitcoin’s main advantage is no longer limited to being the oldest cryptocurrency. Its brand recognition, institutional adoption and position as a reserve-style asset have created a market lead that Ethereum may struggle to close through ordinary growth alone.
Ethereum can still expand as a settlement layer for stablecoins, decentralized finance and tokenized assets. But Qureshi’s argument is that growth does not necessarily translate into replacing Bitcoin as crypto’s dominant store-of-value asset.
Solana still has a path to challenge EthereumQureshi was more open to the possibility of Solana surpassing Ethereum.
He said Solana has already shown that it should not be counted out, but added that Ethereum retains a major advantage through institutional adoption, stablecoins and the large amount of financial capital already deployed across its network.
Ethereum’s ecosystem has also become more active after a period when it appeared “asleep at the wheel,” he said. New organizations and changes to its technical roadmap indicate that the network is trying to improve its product and regain momentum.
Still, Qureshi cautioned against treating current rankings as permanent.
“If there’s one thing I’ve learned from being in crypto for a long time, it’s that you should never assume that the answers are permanent,” he said.
At the time of writing, Bitcoin traded at $64,804, up 4.1% over the past 24 hours, with market dominance of 58.6%.
Ethereum changed hands at $1,874, up 5.8%, while accounting for 10.2% of the crypto market. Solana traded at $77.35, up 2.5%, with 2% market dominance.
Capital Group’s Growth ETF, ticker CGGR, has added roughly $8 million in MicroStrategy shares, pushing its total position to 1.66 million shares valued at $161.39 million. For a fund managing a diversified equity portfolio, that is a meaningful allocation to a single company whose core investment thesis is essentially a leveraged bet on Bitcoin.
MicroStrategy, which now goes by Strategy in some contexts, is one of those stocks that looks like a software company on the surface but behaves like a Bitcoin futures contract in practice. The firm holds over 214,000 BTC on its balance sheet, funded through a combination of equity issuance and convertible notes.
Capital Group is not dabbling here The CGGR purchase is notable, but it is not even the biggest MicroStrategy trade Capital Group has made recently. In April 2026, the firm’s ANCFX fund acquired 4.32 million MSTR shares for $747 million, bringing that fund’s total position to 10.33 million shares worth approximately $1.78 billion.
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Capital Group manages $3.3 trillion in assets across its various strategies. It is one of the oldest and most traditionally minded large asset managers in the US, home to the American Funds family that has been selling mutual funds to retirement savers since the 1930s.
Why MSTR works as an institutional Bitcoin play Most institutional mandates do not allow direct Bitcoin ownership. Pension funds, endowments, and large active equity ETFs operate under rules that restrict them to regulated securities listed on major exchanges.
MSTR solves that problem. It trades on Nasdaq, it reports earnings, it files with the SEC, and owning it feels like owning a stock. Underneath that familiar packaging, though, the company’s value is overwhelmingly driven by its Bitcoin treasury rather than its legacy software business.
Because Strategy funds its Bitcoin purchases with debt and equity raises, its stock price tends to amplify Bitcoin’s moves. For fund managers who believe in Bitcoin’s long-term trajectory, that amplification is a feature, not a bug. This dynamic makes MSTR what traders call a high-beta proxy, a stock that delivers exaggerated exposure to an underlying asset.
What this means for investors watching MSTR Traders positioned in MSTR should watch for further Capital Group 13-F filings, which will show whether the multi-fund accumulation trend continues into the second half of 2026. If ANCFX’s $1.78 billion position grows further, or if additional Capital Group vehicles start appearing in MSTR’s ownership registry, it would suggest that the firm’s internal investment committees are actively recommending the position rather than individual portfolio managers acting independently.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
President Donald Trump has told Israeli Prime Minister Benjamin Netanyahu to redeploy Israeli forces out of Syria and Lebanon. The directive marks a significant shift in US diplomatic posture toward the region, and crypto markets are already reacting.
Bitcoin saw a 5% spike above $64K on initial hopes of de-escalation before retreating below $63K as regional uncertainty continued.
What Trump is actually asking for The request is straightforward on its surface: pull Israeli troops back from positions in Syria and Lebanon. In practice, it’s anything but simple.
Israel has maintained a military presence in southern Lebanon and parts of Syria as part of its broader strategy to counter Hezbollah and Iranian influence in the region. Israeli officials have confirmed their intent to maintain that presence, which means Trump’s directive puts Washington and Jerusalem on a potential collision course.
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Trump has framed the move as an assertion of US leadership over regional dynamics. His June comments included the characteristically blunt declaration, “I call the shots,” in reference to how responses to Iranian activities should be coordinated.
“I call the shots.”
The broader proposal on the table involves replacing Israeli military positions with local forces, including potential involvement from the Lebanese Army or Syrian forces.
Why Bitcoin cares about troop movements in Lebanon The initial 5% Bitcoin price jump above $64K reflected a straightforward thesis: if the US successfully pushes Israel toward de-escalation, the odds of a broader regional conflict drop. Traders bought the rumor.
Then reality crept in. Israeli officials pushed back on the redeployment timeline. Bitcoin slid back below $63K.
No other crypto assets were notably cited in connection with the geopolitical developments, which reinforces Bitcoin’s unique position as the asset most sensitive to macro and geopolitical catalysts.
The diplomatic chess match underneath For Israel, the calculus is different. Southern Lebanon isn’t just a piece of territory. It’s a buffer zone against Hezbollah, which has been a primary security threat for decades. Pulling forces back without ironclad guarantees about what replaces them is a non-starter for most Israeli security planners.
What this means for investors The 5% swing in Bitcoin around this single diplomatic development illustrates the asset’s sensitivity to geopolitical news. The gap between Bitcoin at $64K and Bitcoin below $63K closed in days, not weeks.
If the US-backed security arrangements actually gain traction and local forces credibly replace Israeli positions, that represents a genuine de-escalation signal. If Netanyahu effectively ignores the redeployment request and Israeli operations in Syria and Lebanon continue or expand, the diplomatic friction between the US and Israel itself becomes a new source of uncertainty.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The XRP community is discussing the token’s long-term value based on its current share of the cryptocurrency market.
XRP currently accounts for 3.13% of the total crypto market, which stands at $2.15 trillion today. Meanwhile, XRP commands only $66.74 billion of that market, with its price at $1.06.
This valuation makes XRP the sixth-largest cryptocurrency, behind USDC, BNB, USDT, Ethereum, and Bitcoin.
Of all crypto assets, only Bitcoin has a trillion-dollar valuation. As for valuations above $100 billion, only Ethereum and Tether are in that range.
During the peak of the crypto bull market last year, however, the picture looked very different. Bitcoin’s market capitalization exceeded $2 trillion, Ethereum’s rose above $500 billion, and XRP’s surpassed $210 billion. Today, all three have lost more than 50% of their value.
Regardless of the current market conditions, there is strong optimism that another bull market will emerge and crypto asset valuations will expand severalfold once again.
$100 Trillion Outlook Some market commentators and industry leaders have forecast a future in which the total cryptocurrency market reaches $100 trillion. In such a scenario, Bitcoin would likely command more than half of the market, implying a market capitalization of $50 trillion or more.
At that valuation, Bitcoin would trade above $2.5 million per coin, representing roughly a 40x increase from today’s price of $62,500.
Meanwhile, the altcoin market would account for nearly $50 trillion in market capitalization. Given XRP’s prominent position today, many believe it could continue to maintain a meaningful share of the market in the years to come.
Hypothetical XRP Price Levels Using a theoretical $100 trillion total crypto market capitalization, XRP’s price at different market dominance levels would be:
1% dominance: $16.01 per XRP 2% dominance: $32.03 3.13% dominance: $50.10 5% dominance: $80.08 10% dominance: $160.15 These estimates assume XRP maintains the same share of the overall cryptocurrency market as the industry’s total value grows. However, actual market conditions could differ significantly.
History of XRP’s Market Share During the last bull market, XRP’s market share climbed to 5.58% in January 2025 and 5.52% in July of the same year. In the 2021 bull run, it also exceeded 6%.
In 2017, XRP’s market share reached as high as 31%, while during the 2014 bull run, it stood at approximately 20%.
XRP Market Share| TradingView Essentially, major bull markets have seen XRP’s market share increase significantly, which naturally supports a more optimistic outlook for its potential valuation in a $100 trillion crypto market.
However, nothing is guaranteed. Several established cryptocurrencies have already been overtaken by newer projects such as Hyperliquid (HYPE), DeXe, and VVV, pushing some older coins further down the rankings.
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.
SBI Ripple Asia just signed a memorandum of understanding with Doppler Finance to build XRP-based yield infrastructure and real-world asset tokenization on the XRP Ledger. It’s the first time SBI Ripple Asia, the joint venture between SBI Holdings and Ripple, has partnered with a protocol native to the XRPL.
SBI is one of Japan’s largest financial conglomerates, and the deal comes with a regulated custodian already attached. SBI Digital Markets, which operates under the oversight of the Monetary Authority of Singapore, has been designated as the institutional custodian providing segregated custody for assets involved in the partnership.
What the deal actually involves The MOU, signed on December 17, 2025, targets two primary areas: creating compliant yield-generating products for institutional clients and developing real-world asset tokenization capabilities on the XRPL.
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Doppler Finance specializes in XRP yield infrastructure and brings on-chain frameworks to the table. SBI contributes regulatory expertise, market access, and institutional credibility in the Japanese market.
“By collaborating with Doppler Finance, we aim to accelerate the development of secure and transparent yield infrastructure on the XRP Ledger,” an SBI Ripple Asia spokesperson said.
Why SBI matters more than most partners SBI Ripple Asia was created as a collaboration between SBI Holdings and Ripple, specifically to push blockchain-based solutions across Asian financial markets. This MOU with Doppler represents a direct partnership with a DeFi-native protocol rather than a traditional fintech or banking counterpart, which is new territory for the joint venture. The inclusion of MAS-regulated custody through SBI Digital Markets adds the institutional-grade guardrails that compliance teams demand before signing off on anything.
What this means for investors The yield infrastructure angle is worth watching closely. Building that capability on the XRPL, with a MAS-regulated custodian providing segregated custody, addresses several requirements that institutional allocators care about.
Doppler Finance is reportedly pursuing additional institutional partnerships throughout 2026, suggesting this MOU with SBI could be the first in a broader strategy.
The risk, as always with MOUs, is execution. A memorandum of understanding is a statement of intent, not a binding contract. Investors should monitor whether concrete product launches follow the announcement in the coming quarters, rather than pricing in outcomes that remain hypothetical.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The most instructive XRP trade of 2026 was an exit. When it emerged this month that Goldman Sachs, once the largest XRP holder among Wall Street institutions, had sold down its position, the reaction split along familiar lines: bears read it as the smartest money leaving a stalled asset, bulls read it as a bank taking profits on ETF seeding and creation-desk inventory it never intended to hold.
Both camps then arrived at the same, more interesting question, and it is the one that will define XRP’s next year. The first $1.5 billion of ETF money is in. Goldman’s chapter is closed. Standard Chartered says the next tranche is worth $4 billion to $8 billion. So who, exactly, buys it, what has to happen first, and what does XRP look like if they do?
Summary
XRP ETFs have attracted about $1.5 billion in net inflows, with Standard Chartered estimating another $4 billion to $8 billion could follow if the CLARITY Act becomes law. Registered investment advisors, model portfolios, wirehouses, corporate treasuries, and sovereign investors are expected to drive the next wave of institutional XRP ETF demand over time. ETF inflows have continued despite weak price action as long term accumulation, lower exchange balances, and regulatory progress compete with macro pressure and ongoing supply. The question matters because XRP has spent 2026 as the market’s cleanest natural experiment in whether flows alone can move a price. The token trades near $1.08 inside a range that has compressed to roughly $1.00 to $1.13, down around 40 percent on the year, while nearly every input a flow analyst would track has pointed the other way: sustained ETF creations, whale accumulation running at multiples of last year’s pace, exchange balances at multi-year lows, and a parent company stacking regulatory wins across three continents. The demand arrived. The price did not respond. Resolving that contradiction requires taking the flow machine apart piece by piece.
What the first $1.5 billion proved Five spot XRP exchange-traded funds launched in the United States between November and December 2025, arriving in the window after the SEC’s posture shifted and before any statute confirmed it. Through mid-2026 the products have gathered roughly $1.5 billion in net inflows, a figure that deserves more context than it usually gets. That total accumulated during the worst crypto tape since 2022, with Bitcoin falling from the $90,000s toward $60,000, the Federal Reserve pivoting from expected cuts toward a possible hike, and the Fear and Greed Index pinned in the twenties. Gathering $1.5 billion into a falling altcoin during a fear regime is not failure. It is evidence of a persistent bid that did not exist in any prior cycle, because the wrapper that carries it did not exist.
The composition of that bid matters as much as its size. ETF flows in the launch phase come disproportionately from three sources: self-directed retail moving out of exchange custody and into brokerage accounts, hedge funds running basis and arbitrage strategies, and early-adopter advisors making small allocations for aggressive clients. What launch-phase flows conspicuously exclude is the slow money: the wirehouse model portfolios, the pension consultants, the bank trust departments, and the insurance general accounts. Those channels move on compliance calendars, not conviction, and their compliance calendars all point at the same gate.
Benchmarking the figure against the category sharpens the point. The five XRP products collectively rank behind only the Bitcoin and Ethereum complexes among American crypto ETFs by assets gathered, ahead of the Solana products that launched into the same window with a stronger price narrative. Monthly net flows have oscillated with the tape, including redemption stretches during the worst weeks of the drawdown, but the cumulative line has kept its upward slope through eight months that destroyed weaker products across the fund industry. Whatever the price chart says, the wrapper found a durable audience on its first attempt, and product durability is the precondition every larger channel checks before it checks anything else.
The gate: statute, not classification That gate is legal permanence. The SEC and CFTC jointly classified XRP as a digital commodity in March 2026, an interpretive release that ended, in practical terms, the five-year war that began with the SEC’s 2020 lawsuit against Ripple. But an interpretive release binds nobody past the current commissions, and the institutional legal departments that gatekeep the largest pools of American wealth have been explicit about the distinction. Their memos approve products backed by law and defer products backed by guidance. The CLARITY Act, the market structure bill now sitting on the Senate calendar, is the instrument that converts one into the other, which is why Standard Chartered’s $4 billion to $8 billion projection is written as conditional: those flows unlock if the bill becomes law.
The mechanics of the projection are worth spelling out, because the number is not a guess about sentiment. Analysts build it from allocation math: take the advised wealth channels that currently exclude crypto ETFs, apply the small percentage allocations their model portfolios assign to alternatives when products clear compliance, weight by XRP’s likely share of a multi-asset crypto sleeve alongside Bitcoin, Ethereum, and Solana products, and discount for adoption lag. Run that arithmetic across several trillion dollars of advised assets and single-digit billions fall out quickly. The projection’s fragility is equally visible in its assumptions: it requires the law to pass, the wirehouses to act on it within quarters instead of years, and XRP to hold its place in the standard institutional basket. As crypto.news examined in its analysis of the bill’s falling odds, the first assumption alone now carries roughly 43 percent probability for 2026, which means the headline flow number should be probability-weighted by anyone using it seriously.
The buyers, ranked by likelihood Ranking the candidate buyers of the next $4 billion produces a clearer picture than the generic institutional label. The most probable early source is the registered investment advisor channel, roughly $8 trillion of American wealth where individual firms make their own compliance decisions and where crypto allocations have already normalized at the aggressive end. RIA flows into Bitcoin ETFs led every other channel in that product’s first year, and the pattern would likely repeat down the risk curve.
Second come the model portfolio and turnkey asset management platforms, which matter less for their size than for their automation: once an XRP product enters a model, flows recur monthly with rebalancing, indifferent to headlines. Third, the wirehouses, the largest and slowest pool, where solicited recommendations require the statutory green light and where internal approval processes run quarters after that. Fourth, corporate treasuries, a wildcard channel that Bitcoin normalized and that a handful of firms have already extended to XRP; permanence in law plus an accounting framework would widen that experiment. Fifth and most speculative, sovereign and quasi-sovereign buyers in jurisdictions where Ripple’s payment infrastructure is operationally embedded, a category that generates headlines out of proportion to its realistic near-term size.
The timing across these channels is sequential, not simultaneous, and the sequence is the part most projections flatten. RIA adoption can begin within weeks of a statutory trigger because the decision sits with thousands of small compliance committees rather than a handful of large ones. Model platforms follow within one to two quarters, on their scheduled review cycles. Wirehouse approval historically lags by two to four quarters even after the stated objection is removed, because internal product committees, training requirements, and suitability frameworks each add their own clock. Stacking those lags against Standard Chartered’s range suggests the honest shape of the projection: a thin front edge arriving within months of passage, and the bulk arriving across 2027, which is a materially different trade than the headline number implies.
Against these stand the sellers. Launch-phase arbitrageurs exit as basis compresses. Early holders use ETF liquidity as an exit ramp, which is partly what the Goldman episode illustrated. And Ripple itself remains a structural source of supply through its escrow releases, a flow bulls prefer not to model and bears never stop modeling. Net flow, not gross inflow, is what moves price, and the first eight months of ETF trading have shown the net figure can stay positive while the price goes nowhere if enough legacy supply uses the new demand as liquidity.
The demand stack beneath the ETFs The ETF story sits on top of an on-chain demand picture that has quietly strengthened all year. Whale accumulation, measured by large-wallet inflows and exchange outflows, has run at roughly triple last year’s pace during the 2026 drawdown, the classic accumulation-into-weakness pattern that preceded prior cycle turns. Exchange balances have fallen toward multi-year lows, shrinking the tradable float. XRP Ledger activity has grown across payments, tokenized real-world assets, and the RLUSD stablecoin, which has become the settlement asset for an expanding share of Ripple’s enterprise volume.
The corporate side reads the same direction. Ripple holds more than 75 regulatory licenses and registrations worldwide. It secured full authorization under the European Union’s MiCA framework in Luxembourg this month, opening the entire European Economic Area under a single passport. Mastercard named Ripple a settlement partner in its AI payments network. SWIFT-connected banks have begun routing blockchain settlement pilots through Ripple-linked institutions. And the company stages its largest event of the year, Swell, alongside the XRPL developer summit in New York in late October, a traditional venue for partnership announcements. On any fundamental checklist an equity analyst would recognize, the boxes are ticked. That is precisely what makes the price action so uncomfortable.
The RLUSD complication One development the flow models handle awkwardly is that Ripple’s fastest-growing product is no longer XRP. RLUSD, the company’s regulated stablecoin, has become the settlement asset for a rising share of enterprise volume, the collateral base for Ripple Prime’s institutional services, and the instrument through which many of the bank partnerships actually clear. Every corporate win that routes through RLUSD strengthens Ripple the company while contributing nothing direct to XRP the asset, and the divergence has become a live debate among holders: whether the stablecoin is the wedge that eventually drives ledger activity and XRP demand for bridging and fees, or the quiet replacement of the token’s original use case with a product institutions find easier to hold.
For the ETF flow question, the debate cuts a specific way. Allocators buying an XRP product are buying the token’s monetary premium and its role in the ledger economy, not Ripple’s equity story. If the company’s growth increasingly expresses itself through RLUSD and through services revenue, the fundamental narrative that supports a dedicated single-token allocation weakens at the margin, even as the company itself strengthens. Bulls answer that stablecoin settlement and tokenized asset growth raise ledger throughput, and throughput ultimately prices the native asset. The honest status of that argument is unresolved, and it is the fundamental question hiding inside the flow question: $4 billion buys exposure to XRP, and the market is still deciding what XRP is exposure to.
Why ETF demand behaves differently from spot demand The distinction between a billion dollars of exchange buying and a billion dollars of ETF creations is mechanical, and it decides how the next tranche would express itself in price. Spot demand on exchanges is discretionary and reflexive: it arrives with momentum, leaves with drawdowns, and concentrates in the leveraged venues where liquidations amplify both directions. ETF demand routes through authorized participants who create and redeem shares against the net of each day’s orders. The flow that survives that netting is disproportionately allocation flow: advisors rebalancing models, platforms deploying scheduled contributions, funds equitizing mandates. It arrives on calendars, ignores intraday narrative, and, critically, keeps arriving through drawdowns because rebalancing into weakness is what model portfolios are built to do.
That character difference explains an apparent paradox in the 2026 data: steady net creations against a falling price. The creations were real, but they were met by discretionary sellers using the wrapper’s liquidity as an exit, including, evidently, the largest bank holder on the street. The bull interpretation is that this is exactly what accumulation phases look like when a new demand channel opens into an old holder base: impatient supply migrates to patient hands, the float thins, and the price stays flat until the migration completes. The bear interpretation is that the patient hands are simply early, and patience is not a catalyst. The data cannot distinguish the two until a demand shock tests the thinner book. What the data does show is that the pipe works: shares get created, spreads stay tight, and the products tracked their net asset values through the year’s worst volatility, which is the operational track record the slower channels required before even beginning their reviews.
The Bitcoin ETF playbook, one asset down the curve There is a map for how the channels open, because Bitcoin walked it in 2024 and 2025. The Bitcoin spot ETFs launched into self-directed and hedge fund demand, spent roughly two quarters dominated by basis trades, then inflected when the RIA channel cleared the products for solicited use and the first wirehouses followed. Each gate that opened produced a step change in cumulative flows, and the price responded with a lag measured in weeks, not days, because allocation flow does not chase. By the time the largest platforms had fully opened, the products held a meaningful share of circulating supply and the asset’s volatility profile had visibly compressed.
XRP’s products are one asset class rung below on the institutional risk ladder and roughly three quarters into the equivalent timeline, still waiting on the gate that Bitcoin never needed: statutory classification. Bitcoin entered its ETF era with a commodity status nobody seriously disputed. XRP entered with a court ruling, an interpretive release, and a pending bill, which is why its channel-opening sequence stalled at the compliance stage that Bitcoin’s cleared automatically. The playbook’s lesson is not that XRP repeats Bitcoin’s flow curve at smaller scale, though the analog is tempting. The lesson is that the curve is gated by legal events, and the gates open in order. The March release opened the first. The Senate holds the second.
The supply side of the ledger Flow analysis that counts only buyers is half an analysis, and XRP’s supply side has features Bitcoin’s does not. Ripple’s escrow releases up to one billion XRP monthly, with unused portions returning to new escrow contracts. The net escrow contribution to circulating supply has trended well below the headline figure, and the company has leaned on programmatic sales less as institutional revenue lines have grown, but the overhang is structural: the market prices the possibility of supply even in months when little arrives. Layer on the launch-era holders for whom regulated products finally offered institutional-grade exit liquidity, and the absorption burden on the first $1.5 billion becomes clearer. New demand did not meet a fixed float. It met a float with a scheduled faucet and a queue at the exit.
The counterweight is the on-chain float data. Exchange balances at multi-year lows mean the discretionary sell-side has thinned even as the escrow schedule persists, and RLUSD settlement growth gives a share of monthly releases an internal destination that did not previously exist. The supply picture, like everything else in this asset, resolves into a timing question: whether the faucet or the gate moves first.
Why the price has not followed The bear explanation for the standoff is the simplest and has been the best trade of the year: XRP is a high-beta risk asset in a market being repriced by the Federal Reserve, and no token-specific story survives a regime where inflation prints at three-year highs and rate expectations invert. XRP’s correlation with Bitcoin has remained high through the drawdown, and Bitcoin itself has ignored its own bullish supply dynamics for months. In this reading, the flows are real but small against the macro tide, the $1.5 billion of ETF demand was absorbed by sellers grateful for the liquidity, and the next $4 billion, if it comes, arrives only after the Fed turns, at which point every risk asset rallies and XRP’s story adds beta instead of alpha.
The structural bear adds a colder point: XRP’s investment case has become a regulatory derivative. Strip out the CLARITY Act and the token trades on cross-border payment adoption that, while real, has never been priced by the market as sufficient on its own. If the bill slips to 2027, the one catalyst distinguishing XRP from the general altcoin complex slips with it, ETF inflows could reverse the way they briefly did earlier this year, and analysts have flagged the zone below $1.00 as thin support down to materially lower levels. The Goldman exit, in this telling, was not noise. It was a sophisticated holder concluding that the probability-weighted return of waiting had fallen below its hurdle.
The bull rebuttal: coiled, not broken The bull case does not dispute the macro pressure; it disputes the conclusion. Prices that refuse to fall on bad tape while accumulation triples are compressing, not failing, and the float shrinkage means any demand shock hits a thinner order book than at any point in XRP’s modern history. Seasonality offers a minor tailwind with a major caveat: July has historically been XRP’s strongest month, averaging roughly 10 percent gains, though this July opened deep in a fear regime that blunts seasonal patterns. The levels are unusually clean. The $1.00 floor has been defended repeatedly, resistance sits at $1.13 and then the $1.18 to $1.20 zone, and a legislative surprise into light positioning would find little supply between the breakout level and the low $1.40s where the year’s earlier ranges sat, as crypto.news mapped in its July price prediction.
The deeper bull argument is about market structure rather than price. Every prior XRP cycle ran on retail exchanges and offshore leverage. This one is the first where a regulated wrapper connects the token to the advised wealth system, and wrappers change the character of demand: slower to arrive, slower to leave, price-insensitive on schedule. The first $1.5 billion built the pipe. The debate over the next $4 billion is really a debate over timing, because the channels themselves, once compliance-cleared, allocate mechanically. Bulls can be wrong about 2026 and right about the asset, which is an argument for position sizing instead of abstinence.
What would invalidate the flow thesis Intellectual honesty requires listing the ways the $4 billion never arrives even if the bill passes. The first is product cannibalization. The next generation of crypto ETFs is multi-asset: index products holding baskets weighted by market capitalization, which institutional buyers often prefer to single-token bets. If the advised channels open and allocate through baskets, XRP captures only its index weight of the flows, a fraction of the headline projection built on dedicated products. The second is fee and liquidity concentration. ETF flows historically consolidate into one or two winners per category, and a fragmented five-issuer field splits liquidity in ways that keep the largest allocators waiting for a dominant product to emerge.
The third invalidator is reputational path dependence. A single adverse event, an issuer failure, a custody incident, an escrow controversy, would reset the compliance clocks that took years to run, and crypto’s history suggests assigning that tail a nonzero weight. The fourth is simple opportunity cost: if the gate opens during a macro regime where advisors are cutting risk, the mechanical allocations shrink with the risk budgets they draw from. None of these kills the asset. Each of them turns the projection’s midpoint into its ceiling, and collectively they are why serious flow forecasts carry ranges wide enough to drive a truck through.
What Ripple controls and what it does not It is worth separating the variables by who holds them. Ripple controls its licensing map, its product velocity, RLUSD’s growth, escrow release policy, and the October event calendar. It controls none of the three variables that will actually decide the flow question: the Senate schedule, the Federal Reserve, and the oil price. That asymmetry explains the company’s visible strategy of building the institutional rails before the demand arrives, so that when the gate opens, adoption is an integration task rather than a construction project. It also explains why company news has stopped moving the token: the market has correctly identified which variables bind.
For regulation watchers, the checklist between now and the August recess is short. A scheduled Senate floor vote is the unlock signal. The reconciliation of the two committee texts is its precondition. Public declarations from additional Democratic senators are the vote-count tell. And ETF net flows themselves are the real-time referendum: sustained creations through a stalled news cycle would show the slow money starting to front-run the statute, while accelerating redemptions would show the hope premium leaking out.
The scoreboard to watch through August Condensing the analysis into a watchlist: Senate floor scheduling is the master variable, and everything else is downstream. Weekly ETF net flows are the highest-frequency tell, with sustained creations through stalled news indicating front-running and accelerating redemptions indicating the hope premium unwinding. Exchange balance trends and large-wallet accumulation show whether the patient-hands migration continues. RLUSD supply growth versus XRP ledger fee volume tracks the internal debate about what the token captures. And the $1.00 and $1.13 levels frame the range until one of the above breaks it.
The next $4 billion is neither a fantasy nor a schedule. It is a documented pipeline behind a legal gate, with a probability attached that the market itself now prices below even odds for this year. If the gate opens, the buyer list is specific, the mechanics are boring, and boring is what durable repricings are made of. If it does not, XRP spends the midterm season as a range asset defending $1.00 with strong hands accumulating and weak hands gone, which is not the worst setup an asset has entered a year with.
Goldman answered the question of who sells. The Senate, not the market, holds the answer to who buys.
Disclaimer: This article is information, not investment advice. Prices, flow figures, analyst projections, and legislative timelines reflect reporting available as of July 14, 2026, and can change quickly. ETF flow projections are conditional estimates, not commitments. Nothing here is a recommendation to buy or sell XRP or any other asset. Verify current developments from primary sources and consider your own circumstances before making any decision.
Evernorth CEO Asheesh Birla says the XRP Ledger is evolving into a platform where tokenized real-world assets can be actively used, not simply stored.
The value of tokenized real-world assets (RWAs) on the XRP Ledger has climbed 388% from $900 million at the start of the year to $4.4 billion, according to data from RWA.xyz. But for Evernorth CEO Asheesh Birla, there should be more beyond just the general concept of tokenization.
Birla claims that the next phase of tokenization is not about placing traditional assets on a blockchain. Instead, the real opportunity lies in making those assets productive while they remain in their tokenized form.
Tokenized Assets Need Utility, Not Just Presence: Evernorth Birla compares the future of tokenized finance to how traditional financial markets have operated for decades. Notably, capital naturally gravitates toward platforms where it can be deployed with the least friction. Those with the deepest liquidity and the most competitive pricing also attract market users.
Rather than remaining idle in digital wallets, the Evernorth CEO expects tokenized assets to become increasingly dynamic. Since they are more liquid, they should provide better yields based on an owner’s risk appetite. Rebalance portfolios as market conditions change, and interaction with lending and collateral services should also be easier and automated.
From Birla’s perspective, tokenization is only the foundation. The real deal is if a network allows an asset to actively participate in broader financial activities.
XRP Ledger Offers Beyond Tokenization According to Birla, several pieces of that infrastructure are already available on the XRP Ledger.
The network has already developed a built-in decentralized exchange and supports near-instant transaction settlement. Notably, several financial institutions have acknowledged the XRP Ledger as a good fit for cross-border payments, with HSBC calling it a “game changer.”
Additional features, including on-chain lending and collateral vaults, are also under development, creating an environment where tokenized assets can be used rather than simply stored.
He emphasized that this is not a zero-sum game, as multiple networks will support tokenized assets as the sector expands.
However, those like the XRP Ledger, offering deep liquidity, efficient settlement, reliable governance, and broad asset availability, will attract more adoption over time. The over 380% growth in RWAs on the Ledger this year is already reflecting that.
Ripple’s RLUSD Is an Early Proof of Expanding On-Chain Liquidity Birla also pointed to the RLUSD stablecoin as an early example of this trend taking shape on the XRP Ledger.
Citing Evernorth’s June data, he highlighted that RLUSD has grown to approximately $1.6 billion in circulation, while more than 50% of its liquidity now resides on the XRP Ledger, up from just 17% in April. At the time of writing, however, the stablecoin’s circulating supply has dropped to $1.48 billion, with 59% of it on the XRP Ledger.
Birla explained that stablecoins play a central role in digital finance because they provide the liquidity needed for payments, lending, settlement, and other financial services. The increasing concentration of RLUSD liquidity on the XRP Ledger suggests users are choosing its infrastructure, as it allows capital to move quickly and efficiently.
Notably, these comments come days after Birla encouraged crypto treasury companies to move beyond building portfolios. As the industry moves to its next phase, he urged them to explore means of generating returns from their stash, recommending tokenization on the XRP Ledger.
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.
As XRP (CRYPTO: XRP) is battling to stay above $1, pro-crypto attorney John Deaton said XRP holders played a meaningful role in Ripple’s landmark legal victory against the SEC.
‘Happy XRP is not a security day’In an X post on July 14, Deaton said the court cited his amicus brief, nearly 4,000 affidavits submitted by XRP holders, and an oral argument he made in the LBRY case regarding secondary-market sales of digital assets.
He also noted that his brief argued that the token is merely digital code regardless of how it may have been marketed.
Judge Torres ultimately ruled that XRP itself is not a security, a conclusion Deaton said aligned with that argument.
Ripple chief legal officer Stuart Alderoty also celebrated on X stating, "Happy XRP IS NOT A SECURITY DAY!"
Vet, an XRP Ledger validator, also noted that the legal win led to a more crypto friendly administration and it was the "beginning of the end of the previous SEC war on crypto."
Japan remains one of XRP’s strongest markets, supported by regulatory clarity, significant institutional participation and one of the world’s largest XRP holder communities.
Doppler Finance announced a strategic partnership with SBI Digital Finance to expand institutional XRP finance in Japan. The main goal is to develop compliant XRP-based financial solutions for institutional investors.
Potential Capitulation BottomIn a podcast on July 13, crypto analyst Cryptoinsightuk highlighted elevated open interest, positive funding rates and geopolitical uncertainty as possible triggers for XRP to briefly fall below $1, targeting the $0.925-$0.95 range.
However, the analyst views such a move as a potential capitulation bottom rather than the beginning of a deeper downtrend.
Strong support around $0.95 and relatively limited liquidity below that level could pave the way for a rebound toward $1.70-$1.80.
While a decline to $0.63 remains possible, the analyst considers it a lower-probability scenario.
Image: Shutterstock
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@Ripple has joined the @linuxfoundation x402 Foundation as a Premier Member, adding its weight to a growing industry push to create a global standard for autonomous machine-to-machine payments using $XRP and the regulated $RLUSD stablecoin.
What Is the x402 Protocol? The x402 protocol was originally created by Coinbase and is now stewarded by the Linux Foundation's x402 Foundation. The concept revives the old HTTP 402 "Payment Required" status code and turns it into a real transaction mechanism. An AI agent requests a paid service, receives a payment challenge, fires an on-chain payment, and resubmits the request with cryptographic proof. From the agent's perspective, it feels almost like a standard API call.
The x402 Foundation initially developed by Coinbase, Cloudflare, and Stripe, launched with a broad set of industry participants as it migrated toward an open source model for internet-native payments. Its membership includes Adyen, Amazon Web Services, American Express, Circle, Google, Mastercard, Microsoft, Shopify, Solana Foundation, Stripe, Visa, and others.
Ripple's Case for XRP and RLUSD Ripple's entry centers on positioning the XRP Ledger as a capable settlement network within the x402 ecosystem. The integration includes support for x402-powered payments using XRP and Ripple USD (RLUSD), enabling AI agents to transact for APIs, compute, and other digital services. Operations on the ledger feature deterministic finality that resolves within a 3-to-5-second range natively, and the system leverages existing institutional controls such as multi-signature schemes, deposit authorization, and escrow contracts.
Ripple promotes the XRP Ledger's three-to-five-second settlement times, predictable transaction costs, native escrow features, multisignature support, and built-in decentralized exchange as advantages for automated payments.
The broader x402 market, however, remains firmly in USDC territory for now. Data from Web3 Trackers shows more than 120 million cumulative x402 transactions and over $41 million in settled USDC volume, with Base accounting for roughly 70 million transactions and Solana processing about 45 million. While Ripple touts fast, low-cost, protocol-level payments as advantages, Ripple has not yet disclosed real-world adoption metrics for agent payments.
The move aligns with Ripple's broader strategy to provide compliant, institutional payment infrastructure for emerging AI-driven commerce.
Sources:
Linux Foundation: x402 Foundation Launch Announcement
Ripple: Introducing the XRP Ledger AI Starter Kit
CoinDesk: Ripple Wants AI Agents to Pay in XRP and RLUSD
Binance, one of the largest cryptocurrency exchanges known for its high trading volumes and liquidity, continues to display strong selling pressure on XRP, according to the latest CryptoQuant analysis. The digital asset, once trading above $2.00 earlier this year, has now dropped to about $1.07 as persistent sell orders dominate the market.
Binance CVD signals continued downsideCryptoQuant, a platform specializing in on-chain and market analytics for digital assets, observed that Binance’s XRP Cumulative Volume Delta (CVD) sits near negative 6.93 million. This persistent negative reading, which has remained steady for weeks, highlights a prolonged period where sell orders significantly outpace buy orders.
The CVD metric is considered an indicator of genuine order flow, reflecting whether actual market participants are accumulating or distributing an asset. In XRP’s case, the prolonged negative figure indicates sellers remain in control, showing the decline from $2.00 to current support levels has been under consistent selling pressure.
Even with the token’s decrease to $1.07, CryptoQuant’s analysis shows that buy-side demand has not recovered, and sellers continue to shape Binance’s order book dynamics.
Additional data from Binance revealed a scarcity index at its highest level since mid-2024, demonstrating that even with low prices, some supply constraints persist on the platform. CryptoQuant contributor ArabxChain, who tracks multiple XRP metrics, built the CVD chart that underpins this analysis.
Mini dictionary: Cumulative Volume Delta (CVD), a technical indicator in crypto trading, tracks the difference between the cumulative sum of buy and sell orders, helping traders identify which side—buyers or sellers—dominates order flow on exchanges.
MetricEarlier in 2026Current (July 2026)XRP Price$2.00$1.07Binance CVDNot specified-6.93 millionScarcity IndexLowerHighest since mid-2024Confirmation score remains subduedThe 30-day Price-CVD Confirmation Score for XRP hovers around 0.84, a figure that, in isolation, might appear stable or even slightly optimistic. However, CryptoQuant cautions that this level is not sufficient to signal a buying reversal. Instead, the score suggests the link between price and order flow is stable but not yet favoring a bull trend.
The current reading of 0.84 implies buying strength is lacking and does not represent a clear shift in momentum. A meaningful trend reversal would require CVD to turn positive together with an increasing confirmation score.
A true recovery in demand will only become evident if both order flow and the confirmation score improve in tandem. At present, neither metric points to renewed support for buyers.
Background: Ripple’s legal history and current sentimentRipple, the company behind XRP, has previously faced significant challenges. CEO Brad Garlinghouse recently shared that at the peak of its legal conflict with the US Securities and Exchange Commission in 2020, Ripple considered shutting down completely. The lawsuit posed a serious risk to the company’s survival, a decision that contrasts sharply with today’s ongoing but less existential market struggles for XRP traders.
In July 2026, market participants are instead responding to fluctuations in leverage and funding rates. Separate findings from CryptoQuant documented that while Binance funding rates surged 266%, open interest dropped to $399 million, signaling reduced leverage in the market. Despite these changes, conviction among buyers remains weak, as shown by the persistently negative spot CVD readings.
Outlook for XRP on BinanceAny significant turnaround would require a rise in CVD into positive territory and an improvement in the confirmation score, an event not yet seen on Binance. Until then, order flow remains negative, and XRP continues to move around the $1.07 mark.
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 joined the Linux Foundation's newly launched x402 Foundation as a premier member.
It is bringing XRP and its RLUSD stablecoin into an open-source initiative that is meant to standardize internet-native payments for AI agents and applications.
The x402 Foundation will oversee the development of the x402 protocol, an open payment standard that enables AI agents, APIs, and applications to send and receive payments directly over HTTP. The protocol aims to make financial transactions as seamless as exchanging data on the internet.
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Ripple said it has already integrated support for x402 on the XRP Ledger, allowing AI agents to transact using both XRP and RLUSD.
Ripple added that it is looking forward to contributing to the Foundation's governance and technical development.
The Foundation launches with backing from 40 organizations, including Amazon Web Services, American Express, Circle, Coinbase, Google, Mastercard, Ripple, Shopify, Solana Foundation, Stellar Development Foundation, Stripe and Visa.
AI paymentsRipple argues that the XRP Ledger is particularly well suited for autonomous AI transactions because of its deterministic settlement and predictable transaction costs.
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Jazzi Cooper, RippleX's senior developer relations engineer, said much of the discussion around AI agents has focused on their capabilities rather than the infrastructure needed to let them pay for services autonomously.
"Most of the agentic payments conversation is still about what agents can do. The harder problem is how they pay for it."
According to Cooper, the XRP Ledger already addresses many of the technical challenges associated with machine-to-machine payments. "On XRPL, that's already solved: 3-5 second deterministic finality, no gas auctions, no ambiguous pending states."
She added that this eliminates much of the complexity developers face when building autonomous systems. "An agent doesn't need retry logic or polling loops, it just proceeds the moment a transaction confirms." "That's the difference between infrastructure built for humans clicking 'approve' and infrastructure built for machines making decisions in milliseconds," she added.
Last month, Ripple released its XRPL AI Starter Kit. With x402 support now live, Cooper said those tools can already be used in production scenarios.
Ripple (XRP) shows subtle signs of recovery above $1.05 on Tuesday, with the move to around $1.07 ending three straight days of losses amid a pressured broader cryptocurrency market.
Escalating war between the United States (US) and Iran has weighed on sentiment since last weekend, with both parties exchanging attacks, while shipping through the Strait of Hormuz has stopped and the US has reinstated the blockade of Iranian ports.
Subdued on-chain activity lags XRP recoveryInterest in XRP remains significantly suppressed, as evidenced by on-chain indicators. According to Santiment data, newly created addresses on the XRP Ledger (XRPL) have eased to roughly 800 on Tuesday, down from approximately 2,000 the previous day. Looking back, users joining the network peaked at 6,600 on June 30, suggesting that appetite for risk assets is cooling. If the drop is sustained, demand for XRP would narrow further, limiting potential recovery.
XRP Network Activity | Source: SantimentAddresses actively transacting on the protocol paint a similarly grim picture, declining to roughly 2,200 on Tuesday, down from approximately 4,000 the day before. This drawdown shows that fewer users are actively sending and receiving assets on the XRPL. An extended decline means less on-chain demand and a reduced tailwind to sustain the current mild rebound.
XRP Active Addresses | Source: SantimentPrice analysis: XRP defends vital support, gains still cappedXRP retains a bearish near-term tone despite a slight increase above $1.07 from the psychological support at $1.05. Still, the spot price holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs).
The Parabolic SAR support at $1.04, suggests some underlying demand, but the broader structure remains capped by the downward resistance trendline whose break price sits at $1.11. While the Moving Average Convergence Divergence (MACD) histogram is fading but slightly positive on the daily chart, the Relative Strength Index (RSI) at 40 hints that upside momentum is still limited and rallies are vulnerable below the major EMAs.
XRP/USDT daily chartInitial resistance is seen at the downward resistance trendline break level at $1.11, ahead of the 50-day EMA barrier at $1.16, with the 100-day EMA at $1.26 and the distant 200-day EMA at $1.47 reinforcing a broader supply zone if recovery extends.
On the flip side, immediate support is offered by the Parabolic SAR level at $1.04. A daily close below this floor would likely open the door to a deeper pullback, keeping the pair entrenched in its bearish bias as long as it trades beneath the clustered EMAs overhead.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
XRP passed an important anniversary this week. Three years ago, on July 13, 2023, Judge Torres ruled the token was not a security in Ripple’s case against the SEC, a decision that still sets XRP apart from most of the crypto market.
Analyst Zach Rector marked the date by pointing to what he calls the last realistic window to buy XRP under a dollar.
Why XRP Doesn’t Need the CLARITY Act, According to Rector
Rector argues XRP already has something most tokens are still waiting on.
The 2023 court ruling gave XRP formal legal clarity as a non security asset, a status only Bitcoin shares at a similar level.The CLARITY Act, still pending in the Senate before the August 7 recess, matters for the broader industry, but Rector says XRP doesn’t need it the way other tokens do.He frames the anniversary as proof the asset already cleared its biggest regulatory hurdle years ago.The Technical Setup Behind the “Final Chance” Call
Cassie Trades’ wave count points to one more leg down before the correction ends, according to Rector. The path she’s tracking looks like this:
A sharp move down toward roughly $0.93A relief bounce back near $1.00, which would flip into resistanceA final leg down into the $0.87 zone, marking the end of a multi year correctionXRP was trading around $1.10 as of July 13, sitting just above that projected path.
Looking Back at Past “Last Chance” Moments
Rector pointed to two earlier windows where XRP touched levels it never returned to:
March 13, 2020: XRP traded near $0.10, a level it has not revisited since.June 2022: XRP dropped to around $0.28 to $0.30 following the Terra Luna collapse, and never fell below $0.30 again, even during a retest in January 2023. Story Ends Here
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Ripple has expanded its involvement in the artificial intelligence sector by joining the newly established x402 Foundation as a Premier Member. The x402 Foundation is an organization set up under the Linux Foundation to develop open payment standards for AI-driven transactions. Other prominent members include Amazon Web Services, Visa, Mastercard, Stripe, Coinbase, and Google.
AI agents and new payment standardsThe x402 Foundation is focused on building protocols that allow AI-powered agents to send and receive payments across the internet as easily as they exchange data. As the adoption of autonomous AI agents grows, these standards aim to enable seamless machine-to-machine payments for booking services, purchasing computing resources, accessing APIs, and completing other business activities.
Ripple stated that its technology, especially the XRP Ledger (XRPL), is suitable to power these use cases thanks to its ability to handle high-speed, native digital payments at scale. Developers already have the tools to integrate AI agents with XRPL and facilitate transactions using both XRP and RLUSD, supporting the x402 protocol for rapid, efficient payments.
Beyond simply joining as a member, Ripple will help shape the x402 Foundation’s technology roadmap and governance policies. By contributing to the establishment of open standards, Ripple aims to play a leading role in how digital agents interact financially in coming years.
Mini dictionary: x402 Foundation, a collaborative project under the Linux Foundation, enables open standards for peer-to-peer payments among AI agents and Internet of Things devices.
Ripple highlighted its ongoing work, stating that developers can already integrate AI agents with the XRP Ledger and RLUSD, thanks to protocol support that enables fast, internet-scale payments between machines.
XRPL’s expanding role in the AI-driven economyThe membership comes soon after Ripple launched the XRP Ledger AI Hub, a unified platform offering developer tools, payment services, and access to real-world applications for AI agents on XRPL. These initiatives are intended to expand XRPL’s use beyond traditional cross-border remittances to include infrastructure for the autonomous machine economy.
Within this model, AI agents can use non-custodial wallets funded with XRP or RLUSD to handle payments for cloud computing, access to APIs, digital storage, subscriptions, and other online services. They can earn XRP for completed tasks and use the accumulated funds for future payments, reducing reliance on banks or legacy payment processors.
By supporting technical standards for the x402 protocol and participating in shaping governance, Ripple seeks to position the XRP Ledger as a backbone for machine-to-machine payments in the digital economy.
Early adoption is visible through projects like t54’s x402 facilitator, which recently processed native XRP transactions directly between AI agents on XRPL. This move shows that autonomous payments are transitioning from pilot efforts to practical use in digital markets.
By assisting in the development of new payment infrastructure for AI agents and collaborating on essential standards, Ripple aims to make XRP Ledger a foundational network for autonomous financial transactions as digital commerce evolves.
MemberSectorRole in x402 FoundationRippleDigital payments/BlockchainPremier Member, governance and standardsAmazon Web ServicesCloud computingInfrastructure providerVisaPaymentsIndustry memberMastercardPaymentsIndustry memberStripePaymentsIndustry memberCoinbaseCrypto exchangeIndustry memberGoogleTechnologyIndustry memberAs AI agents increase their participation in commerce, this collaboration across tech, payments, and crypto pioneers may accelerate the shift toward autonomous, internet-native payments using public blockchains like 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’s XRP remains trapped within a broader bearish market structure despite several recovery attempts over the past few weeks. While the recent price action suggests sellers remain active at higher levels, the market is once again testing a critical demand zone that could determine whether the token stabilizes or extends its decline.
XRP Price Analysis: The Daily Chart On the daily timeframe, XRP continues to trade inside a large descending channel that has contained the price action since the beginning of the year. The asset was recently rejected from the upper resistance region around $1.22-$1.29, a supply zone that has repeatedly capped bullish advances throughout the downtrend.
The rejection occurred near the confluence of the descending channel’s upper boundary and the 100-day moving average, reinforcing the significance of this area.
Following the rejection, XRP has retraced toward the key demand zone around $1.02-$1.08. This region has repeatedly attracted buyers and currently represents the most important support level on the daily chart. As long as the price remains above this area, the market could continue consolidating within the lower portion of the channel.
A breakdown below the $1.02-$1.08 support zone would likely invalidate the current stabilization attempt and expose the lower boundary of the channel, potentially opening the door for a deeper decline.
XRP/USDT 4-Hour Chart The 4-hour chart provides a clearer view of the recent weakness. XRP rallied aggressively from the lower demand zone but failed to sustain momentum after reaching resistance at the descending trendline and the overhead supply region around $1.22-$1.29.
Since then, the asset has produced a series of lower highs and lower lows, reflecting growing short-term bearish pressure. The market has now returned to the decisive demand zone around $1.03-$1.08, which has acted as the foundation for every meaningful rebound since late June.
This area remains the primary level to monitor. A successful defense could trigger another relief rally toward the descending trendline and the $1.22-$1.29 resistance zone. Such a move would keep XRP trapped within its broader consolidation structure while preserving the possibility of a larger breakout later.
On the other hand, a decisive loss of the demand zone would represent a significant structural deterioration and likely shift momentum firmly back in favor of sellers.
For now, the token remains positioned at a critical support area. While the broader trend continues to favor caution below the major moving averages and descending channel resistance, the $1.02-$1.08 demand zone remains the key level bulls must defend to prevent another leg lower.
Ripple-backed Evernorth has unveiled a $44 million CEO equity package in a fresh SEC filing while advancing its merger to create a Nasdaq-listed XRP treasury company.
Summary
Evernorth’s latest SEC filing includes a $44 million equity award for CEO Asheesh Birla. The amended filing advances Evernorth’s merger with Armada Acquisition Corp II and planned XRPN listing. Evernorth also launched a Japanese-language XRP information channel without announcing local operations. According to Evernorth Holdings’ fourth amended Form S-4 registration statement filed with the U.S. Securities and Exchange Commission, the company updated executive and director compensation arrangements while advancing the paperwork required for its proposed business combination with Armada Acquisition Corp II, a special purpose acquisition company backed by Arrington Capital.
🚨SCOOP: Ripple-backed Evernorth Holdings files S-4 Amendment with the US SEC
🔸Evernorth moves closer to its merger with Armada Acquisition Corp II and to launch the largest Nasdaq-listed public XRP treasury
🔸Filing announces CEO Ashish Birla’s base salary and a $44 million… pic.twitter.com/wStNBFZ23q
— Rednirav (@CryptoRednirav) July 14, 2026 The filing sets CEO Asheesh Birla’s base salary and grants him an initial equity award valued at about $44 million, together with vesting terms. Chief financial officer Matt Frymier would receive a base salary, annual bonus eligibility and an equity award worth about $5.6 million.
Evernorth also disclosed restricted stock unit awards valued at $750,000 for executives, subject to approval by the board’s compensation committee and the company’s shareholders.
Merger filing moves XRP treasury listing closer Beyond executive compensation, the amended filing moves Evernorth another step toward completing its merger with Armada Acquisition Corp II. If the transaction receives regulatory and shareholder approval, the combined company is expected to trade on Nasdaq under the ticker XRPN while operating what Evernorth has described in its SEC filings as the largest publicly listed XRP treasury company.
According to the filing, Evernorth has secured more than $1 billion in gross proceeds from investors including Ripple, Arrington Capital, SBI Holdings, Pantera Capital and Kraken.
Board appointments were also updated. Ripple chief legal officer Stuart Alderoty is expected to join the board alongside CEO Asheesh Birla and Ted Janus. The proposed board would also include OpenAI Foundation chief financial officer Robert Kaiden and Antalpha chief operating officer Derar Islim.
Separately, Evernorth has expanded its public communications by launching a Japanese-language social media account focused on XRP-related updates and market education. In its introductory message, the company stated that Japan had supported XRP early and that it would continue building from there. However, Evernorth did not announce a new office, regulatory license, investment, product launch, or local operating business in Japan.
The company added that the Japanese account would explain market developments in simple terms and provide professional information without discussing XRP price movements or forecasts. Evernorth has not disclosed local staffing, partnerships or services connected to the initiative, while its website continues to list San Francisco as its primary headquarters.
XRPN stock holds steady as XRP activity grows While the merger still awaits regulatory approval, Armada Acquisition Corp II shares have largely held their gains. The stock is up about 2.25% since the beginning of the year and has gained nearly 0.5% over the past month, although it closed 0.10% lower on Monday. Its 52-week high stands at $10.91.
Source: Yahoo Finance Evernorth has also pointed to rising XRP adoption across several areas. According to the company, tokenized real-world assets on the XRP Ledger increased from roughly $150 million to $4 billion over the past year, supported by growth in spot XRP ETF inflows and an increase in newly created XRP wallets.
Meanwhile, XRP (XRP) traded at about $1.10 after rising 2.3% over the previous 24 hours. The token fluctuated between $1.06 and $1.11 during the session, while trading volume rose nearly 16% ahead of the release of U.S. consumer price index inflation data.
XRP and Ethereum have recorded their highest levels of investor FOMO in the last five weeks, with crowd sentiment turning bullish despite ongoing price weakness. XRP currently trades around $1.06, while Ethereum remains about 65% below its all-time high from August 2025. Both major tokens saw renewed attention as traders shifted focus back toward large-cap cryptocurrencies.
Bullish sentiment returnsSantiment Intelligence, a leading blockchain analytics firm, observed that fear has receded from the market across the largest cryptocurrencies, including Bitcoin, Ethereum, and XRP. However, the firm noted imbalances in market mood, particularly with XRP showing the most optimistic crowd outlook at the start of the week.
On Monday, Santiment Intelligence measured 3.02 bullish XRP comments for every bearish comment. Ethereum followed with 2.31 bullish for each bearish view, while Bitcoin remained more neutral with a 1.40 ratio.
This rising optimism comes as both XRP and Ethereum enter territory often associated with investor FOMO. Market analysts suggest this can heighten short-term risks, as heightened enthusiasm during periods of price weakness sometimes leads to unexpected reversals.
Santiment Intelligence reported that Bitcoin and Ethereum initially started the day on a stronger note but faded later, moving lower as XRP and ETH entered more speculative sentiment territory. Historically, extremes in crowd sentiment have preceded short-lived price swings in the opposite direction.
Both tokens’ crowd-driven momentum stands in contrast to their short-term price performance, which remains subdued amid broader crypto market volatility.
Mini dictionary: Santiment Intelligence is a blockchain data analytics platform providing on-chain and social metric analysis for digital assets.
AssetBullish/Bearish Comment RatioCurrent Sentiment LevelXRP3.02Strongly BullishEthereum2.31BullishBitcoin1.40NeutralEthereum’s fundamentals under scrutinyDebate around Ethereum’s intrinsic value has resurfaced, with market commentators examining the gap between the platform’s network growth and its price action. Independent analyst TedPillows pointed out that Ethereum’s price is still around 65% below the August 2025 peak despite ongoing improvements in network activity, adoption, and underlying strength.
TedPillows emphasized that Ethereum’s charts and fundamentals are telling different stories, noting sustained growth in usage and adoption while the token’s price remains suppressed.
The disconnect between Ethereum’s utility metrics and its market value has become a focal point for investors. TedPillows explained that although higher activity and broader adoption can build a stronger foundation for long-term appreciation, they do not insulate the asset from short-term market volatility. Traders continue to watch whether sustained bullish sentiment will support ETH prices or increase the risk of another pullback.
XRP holds above supportMarket charts indicate that XRP is consolidating around $1.07 on Bitstamp, near a recent low after a decline from 2025 highs above $3. The token’s broader trend still reflects a pattern of lower highs, highlighting ongoing pressure within the market.
XRP is currently attempting to stabilize within a support range between $1.00 and $1.05. Should prices fall below $1.00, technical analysts foresee increased risk of further declines toward $0.95 or $0.90. For a potential upward shift, XRP needs to secure a daily close above the $1.15–$1.20 region.
Key indicators on the daily chart show the MACD registering a small positive crossover, while the RSI remains below the midpoint at approximately 39.9, suggesting caution prevails until momentum strengthens.
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.
EthSystems officially launched on July 14, 2026, as an independent engineering and research company spun directly out of the Ethereum Foundation’s Institutional Privacy Task Force, known internally as the IPTF. The mission is specific: help regulated financial institutions, think banks and asset managers, actually use Ethereum without exposing every transaction to the world.
What EthSystems actually does EthSystems offers architecture advisory, implementation workshops, and full production system builds. Everything it produces, including maps, prototypes, and frameworks, stays publicly available.
The technical foundation comes from the CROPS framework, under which the team has evaluated over 10 distinct privacy approaches, identified 23 specific use cases, and catalogued 69 modular building blocks that can be combined to meet different compliance and confidentiality requirements.
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The backers and the broader push EthSystems has secured funding from Bitmine Immersion Technologies, listed on NYSE as BMNR, and Sharplink, listed on Nasdaq as SBET. Ethereum co-founder Joe Lubin is also among the backers.
The launch also comes just two weeks after a related initiative called Ethereum Institutional went live on July 1, 2026. That project shares overlapping backers and addresses a complementary problem: helping institutions navigate the broader Ethereum ecosystem rather than specifically solving the privacy architecture challenge.
Inside the Ethereum Foundation itself, the Foundation rebranded its privacy team in 2025 and assembled a dedicated Privacy Cluster comprising 47 researchers and engineers focused on embedding privacy considerations into Ethereum’s core development roadmap.
What this means for the Ethereum ecosystem The dual constraint EthSystems is designed to address is being private from the market while remaining transparent to the regulator. Institutions can’t simply encrypt everything: regulators need audit access. That dual constraint is what the CROPS framework is designed to address.
By publishing everything, EthSystems avoids becoming a proprietary gatekeeper to institutional Ethereum access. Other builders, including competitors, can use the CROPS framework.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
After failing to hold $1.8k, Ethereum [ETH] has continued to hover around $1.7k. As of this writing, ETH traded at $1748, after rising slightly by 0.68% on the daily charts.
Interestingly, this market pullback has created a perfect buying opportunity, especially for high-net-worth investors.
Ethereum whales are aggressively accumulating Amid extended sideways movement, whales have continued to accumulate. According to Onchain Lens, a whale withdrew 30.01K ETH, worth $52.84M, from Coinbase Prime to a new wallet.
Lookonchain reported two more accumulating whales. According to the monitor, a newly created wallet withdrew 8,239 ETH, worth $14.5 million, from multiple exchanges.
The other whale purchased 11,843 ETH worth $20.8 million. These two whales accumulated 20,082 ETH worth $35.3 million.
Source: Arkham Finally, a wallet withdrew 37,000 ETH, worth $65.66 million, from Gemini and then staked it in batches to the Eth2 Beacon Chain.
In total, these four whales purchased 87,083 ETH worth $153.8 million. Whales aggressively piling in during this period of market weakness signals confidence in market prospects.
Furthermore, exchange activity has echoed this whale accumulation spree. In fact, whales have significantly absorbed the available supply on CEXs.
Meanwhile, the Exchange Supply Ratio dropped back to the 2016 level of 0.129 at press time.
Source: CryptoQuant When the ESR drops to such low levels, it implies that more assets have flowed out of exchanges than into them.
Often, such market activity reduces supply while increasing scarcity. Rising scarcity has historically preceded stronger upside price movement.
Is the demand adequate to boost ETH price action? Interestingly, although demand has recovered significantly, largely driven by whales, ETH has not yet reflected this on its price charts.
As such, the altcoin’s momentum has remained relatively weak. For instance, when we look at the Stochastic Momentum Index (SMI), it formed a bearish crossover and fell to 37.
Source: TradingView A bearish move here suggested the trend has weakened significantly. Thus, current whale demand has proved insufficient to inspire a move higher.
With the trend holding in this manner, it points to extended market weakness for Ethereum. Thus, if the prevailing trend continues, ETH could drop to the bearish threshold at $1710, with RSI rebounding at $1681 as critical support.
However, if the whale accumulation finally materializes and the market starts to feel the impact, we could see a major upswing. For an upside move, Ethereum must reclaim the RSI breakdown at $1847, which will strengthen the altcoin’s upward momentum.
Final Summary Ethereum whales are aggressively accumulating, adding 87,083 ETH worth $153.8 million. Despite the recovering whale demand, ETH remains structurally weak and risks another slip.
Former members of the Ethereum Foundation's Institutional Privacy Task Force have launched EthSystems, a new for-profit startup that will build privacy infrastructure for banks and other institutions using Ethereum, commercializing work previously developed inside the foundation.The launch is the latest EF spinout following recent organizational changes, joining newly formed entities EthLabs and Ethereum Institutional as the ecosystem restructures its approach to protocol development and institutional adoption.A team of former Ethereum Foundation researchers focused on institutional privacy has launched EthSystems, a new for-profit company aimed at building confidentiality infrastructure for financial institutions using Ethereum.
The startup emerged from the Ethereum Foundation, which spent the past year developing privacy technologies for enterprise use cases while engaging with central banks, regulators, global banks and asset managers.
The spinout comes amid one of the biggest organizational shakeups in the Ethereum Foundation in years. Following months of criticism over leadership, strategy and the foundation's role in supporting Ethereum's increasingly institutional user base, several teams have recently been spun out into independent organizations.
Among them are EthLabs, a nonprofit focused on advancing Ethereum protocol research and scaling, and Ethereum Institutional, a separate nonprofit designed to coordinate institutional adoption and engagement with large financial firms. Together, the organizations represent an effort to distribute responsibilities previously housed within the foundation across more specialized entities.
EthSystems said it plans to commercialize work it began inside the foundation, including confidential stablecoin transfers, private bond issuance, cross-chain settlement systems and open-source protocol specifications.
"Commercial engagements need a commercial counterparty," the company said in a post on X, explaining its decision to operate as a for-profit business. "The model is simple: we continue the work we've been doing, only now we charge for it."
The launch reflects growing institutional interest in using public blockchains for financial infrastructure beyond cryptocurrency investing. While firms have increasingly embraced tokenized assets and stablecoins, many remain reluctant to transact on fully transparent public ledgers, creating demand for privacy-preserving infrastructure.
EthSystems argues that confidentiality is one of the key barriers preventing banks and asset managers from moving real-world financial flows onto Ethereum. The company said its approach will focus on modular privacy systems that allow participants to selectively disclose transaction information while maintaining Ethereum's security guarantees.
The company is also backed by BitMine, SharpLink, Ethereum co-founder Joseph Lubin, SNZ and other Ethereum-focused investors.
Read more: Ethereum Institutional launch draws support from across the Ethereum ecosystem
A group of former Ethereum Foundation researchers just hung out their own shingle, and their pitch is simple: make Ethereum private enough for banks to actually use it.
EthSystems launched on July 14 as a for-profit engineering company building privacy and compliance tools for institutional players on Ethereum. The company grew directly out of the Ethereum Foundation’s Institutional Privacy Task Force, making it the latest in a growing line of Foundation spinouts designed to push the network’s commercial adoption forward.
What EthSystems actually does EthSystems’ technology centers on what the company calls “selective disclosure.” In English: each participant in a transaction only sees the information they need to see, and nothing more. A regulator might get full visibility while counterparties see only what’s relevant to their side of the deal.
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The product suite includes confidential settlement, private bonds, and identity solutions, all designed to run on Ethereum’s public network rather than requiring institutions to retreat to permissioned, walled-garden blockchains.
The company was co-founded by Mo Jalil, who serves as CEO, alongside Oskar Thorén and Aaryamann Challani. All three were key members of the Ethereum Foundation’s Institutional Privacy Task Force, which spent the past year developing open-source privacy frameworks documented at ethsystems.org before spinning out into a commercial entity.
Who’s backing this Anchor funding came from Bitmine Immersion Technologies (NYSE: BMNR), Sharplink (Nasdaq: SBET), and Joe Lubin, the co-founder of Ethereum and founder of ConsenSys.
Bitmine’s Chairman, Tom Lee, framed the opportunity in characteristically ambitious terms, suggesting that the next $100 trillion of global assets will require exactly the kind of privacy infrastructure EthSystems is building.
The company has also signaled deep roots in Asia-Pacific markets, and maintains a commitment to integrating with existing institutional infrastructure for stablecoins and tokenized assets.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum has stabilized after its sharp correction from the $2.4K May highs, with the price attempting to build momentum beneath major resistance. Both the daily and 4-hour charts suggest buyers are gradually regaining control, although confirmation will require a decisive breakout above the current supply zone. The futures market’s aggressive positioning is also pointing to an interesting situation.
Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH continues to recover after breaking out of the long-term descending channel that had capped the price action for several months. Following the breakout, the market experienced a deep retracement toward the $1.5K demand region before buyers stepped back in aggressively.
The rebound has brought ETH back into the $1.85K resistance zone, which now serves as the first major obstacle. This area also aligns closely with the higher channel resistance, creating a strong technical confluence that explains the recent consolidation.
The 100-day and 200-day moving averages remain overhead near the $2K to $2.2K region, indicating that the broader trend has not fully shifted bullish yet. Until those averages are reclaimed, the recovery should still be viewed as a corrective move within a larger neutral-to-bearish structure.
Momentum has improved noticeably, with the RSI recovering above 50 after rebounding from oversold conditions. However, the indicator remains below overbought territory, suggesting there is still room for continuation if buyers can overcome current resistance.
A successful breakout above $1.85K could expose the next resistance zone around $2K to $2.2K, where both major moving averages converge. On the downside, losing the $1.5K support would likely lead to a prolonged bearish trend.
ETH/USDT 4-Hour Chart The lower timeframe presents a more constructive picture. Ethereum has been trading inside a rising channel, producing a sequence of higher lows while repeatedly testing the overhead supply zone between roughly $1.8K and $1.85K.
The ascending lower trendline continues to provide dynamic support, with every pullback attracting buying interest before reaching the broader support area near $1.7K. This suggests buyers remain active despite repeated rejection from resistance.
The price is currently compressing between rising support and horizontal resistance, creating conditions for an eventual breakout. Such structures often precede a volatility expansion, making the current range particularly important.
A confirmed move above $1.85K would likely trigger renewed bullish momentum toward the psychological $2k level and potentially the $2.2K region. Conversely, a breakdown below the rising trendline could invalidate the short-term bullish structure and expose the $1.71K support zone, followed by the broader $1.63K order block if selling pressure accelerates.
The 4-hour RSI remains around neutral territory, reflecting balanced momentum after cooling from recent highs. This supports the view that the market is waiting for a catalyst before choosing its next directional move.
Sentiment Analysis The Taker Buy Sell Ratio remains below the neutral 1.0 threshold, indicating that aggressive sellers continue to slightly outweigh aggressive buyers across futures exchanges. Historically, readings below one reflect cautious market sentiment and reduced conviction from bulls.
However, the 30-day moving average of the ratio has turned higher after recovering from recent lows, suggesting selling pressure has gradually eased. Although buyers have not yet established clear dominance, the improving trend points to strengthening demand beneath the surface.
If the ratio continues climbing toward and eventually above 1.0 while ETH breaks above the $1.85K resistance area, it would provide additional confirmation that buyers are regaining control. Until then, the sentiment data supports a cautiously optimistic outlook rather than signaling a fully confirmed bullish trend.
