The firm announced that the US securities regulator has declared its S-4 registration statement effective, bringing it closer to a SPAC merger with Cantor Equity Partners II.

HTX said World Liberty froze its addresses and has responded by delisting and suspending the platform’s token.

Illinois' pause on data center tax credits highlights the growing tension between energy demands and economic incentives, urging legislative action.

The post Illinois Governor JB Pritzker pauses data center tax credits amid electricity rate concerns appeared first on Crypto Briefing.

The CLARITY Act's progress highlights potential shifts in crypto regulation, impacting market dynamics and political discourse on digital assets.

The post Senator Angela Alsobrooks raises concerns on crypto market structure bill despite voting to advance it appeared first on Crypto Briefing.

Vietnam is planning to require that all domestic crypto trading — including transactions in Bitcoin, Ethereum, and stablecoins like USDT and USDC — be settled in Vietnamese dong, a rule that would effectively bar dollar-paired trades on licensed platforms.

All Eyes On Licensing

The requirement came out of a conference held in Hanoi on Friday, where officials from the State Securities Commission, the State Bank of Vietnam, and the Ministry of Public Security gathered alongside banks, securities firms, and blockchain industry groups to discuss the country’s path toward formal crypto regulation.

Officials said all trading would eventually have to go through licensed virtual asset service providers, though investors would still be allowed to keep assets in personal wallets. Foreign investors would be permitted to open accounts and take part in the market, while domestic participation would initially be limited to those already holding crypto assets.

Bui Hoang Hai, vice chairman of the State Securities Commission, said Vietnam is in a critical phase of building a legal framework for digital finance, including a pilot program for crypto-asset trading platforms under Government Resolution No. 05/2025/NQ-CP.

He said the country has a real opportunity to pull in international capital, open up new business models, and strengthen its position in the regional fintech space — but only if the market is built on transparent rules, sound risk management, and strong protections for investors.

A Market Already In Motion

Vietnam is not starting from zero. Data from the conference puts the country at seventh globally in the number of crypto users and fifth in transaction growth. In the Asia-Pacific region, digital asset transaction values climbed to around $2.4 trillion as of June 2025, according to Phan Duc Trung, chairman of the Vietnam Blockchain Association.

He also pointed to the rise of Bitcoin exchange-traded funds as a sign that the market is drawing in more traditional investors — BlackRock alone is currently managing around $67 billion in Bitcoin ETF assets.

Chris Chiew, a senior advisor at CAEX, told the conference that tokenization of real-world assets could widen access to investments by allowing large-value holdings in real estate, infrastructure, and commodities to be divided into smaller digital units and traded more easily.

He said potential assets for tokenization include gold, industrial facilities, data centers, energy projects, and port systems. Global tokenized asset markets could reach $19 trillion by 2033, with Vietnam’s share projected at between $70 billion and $80 billion by 2030, based on industry figures presented at the conference.

Featured image from Unsplash, chart from TradingView

A wallet linked to one of Ethereum’s co-founders has moved more than $121 million worth of ETH for the first time in over three years, and it could not have come at a worse time for market sentiment. The transfer comes at a sensitive moment for ETH, which reacted by falling to a yearly low of $1,537 in the past 24 hours before recovering slightly back above $1,640 at the time of writing.

Joseph Lubin-Linked Wallet Moves 80,001 ETH After Three Years

Blockchain analytics platform Lookonchain flagged a notable transfer on June 6, noting that a wallet associated with Joseph Lubin, the co-founder of Ethereum and chief executive of Consensys, moved 80,001 ETH valued at $121.6 million following more than three years of complete dormancy. 

Before Lookonchain highlighted the activity, the wallet held 243,300 ETH worth around $370 million. However, the movement did not stop with the initial 80,001 ETH transfer. Data from Arkham Intelligence shows that another 30,000 ETH was moved out of the same wallet after Lookonchain’s post, bringing the total outflow to 120,000 ETH within a short period. At the time of writing, the wallet’s remaining balance is at 133,000 ETH, meaning nearly half of the ETH previously held in the address has now been transferred out. 

The sudden reactivation of the wallet set off alarm bells across crypto social media at a time when Ethereum has already shed about 47% of its value since the beginning of the year. Ethereum has already been trading under pressure in June, and a large movement from a wallet associated with one of the network’s earliest and most visible figures naturally led to panic from other Ethereum traders.

Is #Ethereum co-founder Joseph Lubin(@ethereumJoseph) preparing to dump $ETH?

A wallet linked to Joseph Lubin, which holds 243,300 $ETH($370M), transferred out 80,001 $ETH($121.6M) after more than 3 years of inactivity.https://t.co/s6lzxlNpRy pic.twitter.com/f0hyWvQBAm

— Lookonchain (@lookonchain) June 6, 2026

Some Whales Buy The Dip While Others Head Out

Following the outflows from Lubin’s wallets shows that the cryptocurrencies eventually entered into a DSProxy wallet. While the intentions as to the transactions can be debated, other large holders have been making their moves with more clarity. 

For instance, Longling Capital, a wallet known on on-chain tracking platforms for its pattern of buying low and selling high, deposited 10,000 ETH worth $15.68 million to Binance, according to Lookonchain. The move to a centralized exchange can be easily interpreted as a precursor to selling from the whale address.

However, not every whale is in a selloff mood. One Ethereum OG who sold 60,000 ETH and 9,442 wstETH at approximately $2,040 just a week earlier has already begun buying back the cryptocurrency. Over the past two days, that whale spent $55.8 million to accumulate 35,723 ETH at an average price of $1,563 and may not be done yet, according to Lookonchain data.

Featured image from Unsplash, chart from TradingView

Ethereum’s slide to its lowest level in more than a year is testing the Wall Street trade that brought the token deeper into institutional portfolios.

Data from CryptoSlate shows that the second-largest cryptocurrency fell to as low as $1,506 during the last 24 hours, its weakest level since April 2025, extending a broad crypto selloff that has already drained leverage from derivatives markets and pushed traders toward defensive positioning.

Crucially, the downswing is not confined to ETH's spot market as the digital asset is also experiencing a broader deterioration across regulated ETF flows, centralized exchange deposits, and derivatives positioning.

This situation comes at a time when the broader crypto market sentiment has significantly weakened, with Bitcoin falling toward a four-month low near $60,000, while Ethereum has erased much of its market support.

ETF outflows weaken Ethereum’s institutional bid

The pressure has been most visible in the ETF market, where the products that gave institutions a regulated way to buy Ethereum have turned into a source of persistent outflows.

Data from SoSoValue shows that spot ETH ETFs have recorded four straight weeks of withdrawals totaling more than $870 million.

During that period, the funds posted a 17-day outflow streak interrupted by only one day of inflows, when investors added $19.3 million.

As a result, sosoValue data show total spot Ethereum ETF assets have declined more than 70% from their $30 billion peak to $8.71 billion, which is equal to about 4.01% of Ethereum’s circulating market capitalization.

The reversal has weakened one of the main arguments behind Ethereum’s institutional expansion. The ETFs were expected to broaden access to the asset, deepen liquidity, and give traditional investors a cleaner way to gain exposure without handling tokens directly.

However, that demand has softened as ETH’s price moved lower and investors have reduced risk across digital assets.

Exchange inflows add another supply risk

As institutional demand-side forces abated, the physical supply available on liquid trading platforms experienced a sudden and substantial expansion.

CryptoQuant data show Ethereum inflows to trading platforms climbed to about 2.24 million ETH in a single day, the highest level in four months. Binance accounted for more than 1.16 million ETH of those inflows, representing more than half of the total.

This surge in active supply can be seen in high-profile on-chain movements that served as glaring evidence of the liquidity migration.

Notably, a wallet linked to Ethereum co-founder Joseph Lubin awoke after more than three years of dormancy, mobilizing 80,001 ETH, valued at roughly $122 million.

The massive transfer epitomized the broader trend where long-inactive capital breaks from cold storage to seek out active trading venues and liquid architectures amid the mounting market stress.

Large inflows to trading platforms do not automatically mean investors are selling. They can reflect market-making activity, collateral movement, internal transfers, or portfolio restructuring during periods of stress.

However, traders watch the metric closely because coins held on exchanges are easier to sell or use in derivatives activity than coins sitting in private wallets.

The timing has made the increase harder to dismiss. Ethereum was already trading near $1,580 when the inflows accelerated, while Bitcoin had fallen toward $59,000. That combination suggested investors were moving assets during a marketwide reset rather than during a routine period of repositioning.

If exchange deposits remain elevated, the market could face additional short-term volatility.

Derivatives deleveraging deprives market of rebound capital

The velocity of the current crypto market decline has been accelerated by an extensive deleveraging cycle across leveraged futures platforms.

As spot valuations rapidly deteriorated, automated liquidation engines on major exchanges systematically closed out underwater long positions to protect clearinghouse integrity, amplifying organic selling pressure.

Data analyzed by Santiment illustrates that this liquidation wave effectively flushed out a massive block of speculative capital over a narrow four-day window:

• Bitcoin Total Open Interest: Contracted by approximately 25%, dropping to $23.2 billion, which is its lowest operational aggregate since early April.
• Ethereum Total Open Interest: Decreased by 13%, settling at $9.8 billion, a structural low point not seen since March.

While this aggressive deleveraging leaves the underlying market structurally healthier by purging speculative excess and over-extended margin, it introduces an immediate liquidity vacuum.

The severe drop in open interest demonstrates that the speculative floor has thinned, leaving the market highly vulnerable to further spot pressure due to the lack of immediate leveraged capital available to front-run a classic V-shaped recovery.

Consequently, retail crowd sentiment has cratered to its most pessimistic footing since mid-February.

The firm noted that social metrics reveal an exponential increase in the phraseology of capitulation, with organic social discussions increasingly pairing terms like “Bitcoin” and “altcoins” alongside terminal descriptors such as “dead,” “finished,” “over,” and “ending.”

Traders hedge for a break below $1,500

The buildup of stress across ETFs, exchange flows, whale cost bases, and leveraged markets has shifted attention to ETH's options market, where traders are paying more to protect against another leg lower.

Deribit data show demand for downside protection has increased sharply. The ETH options put-to-call premium rose to 3.7 times on Friday and has shown consistent excess demand for put options since Monday. Put contracts give holders the right to sell at a set price, making them a common hedge when traders expect further losses or want protection against a disorderly move.

ETH's open interest has clustered around several downside strikes. Traders have built roughly $108 million in open interest around the $1,500 strike, while the $1,400 strike has attracted about $75 million. The $1,000 strike has drawn about $78 million in positioning.

Those levels do not mean the market expects ETH to fall to $1,000 immediately. Instead, they show that traders are paying for protection after several support signals weakened at the same time.

BlockScholes data show the shift has also appeared in volatility pricing. ETH short-dated implied volatility has jumped from a year-to-date low of 36% to 67%, signaling that traders now expect larger near-term price swings.

The move has been accompanied by a sharper skew toward out-of-the-money puts. The seven-day ETH options skew has moved to about -14%, compared with roughly -3% to -4% in late May. Additionally, the demand for puts has also spread across 7-day, 14-day, 30-day, and 90-day maturities.

That broadening shows traders are not just hedging a single event or one short-term move. They are preparing for the possibility that Ethereum's weakness could extend if ETF outflows continue, exchange inflows stay elevated, and large holders remain below key cost levels.

The next test is whether $1,500 becomes a floor or a trigger. A stabilization in ETF flows and a decline in exchange deposits could help ease pressure.

Without that, the options market’s focus on downside strikes may become the clearest signal of where traders expect the next phase of the selloff to concentrate.

The post Ethereum’s $1,500 test shows how quickly Wall Street’s crypto trade has turned appeared first on CryptoSlate.

Decentralized finance has gotten a lot safer over the past six years, and a new review of protocol losses from 2020 through 2025 puts a pretty large number behind that claim.

Industry-wide DeFi losses peaked at $2.62 billion in 2022 and fell roughly 80% to $534 million by 2024. Bridge hacks that once produced billion-dollar headlines now account for a tiny slice of annual totals, and the typical exploit today does about a quarter as much damage as it did at the peak.

While this is certainly great news for the crypto industry, there's still quite a bit of risk left; it just shows up in a different place. Major protocols now often deploy the same code across Ethereum, Base, Arbitrum, Polygon, OP Mainnet, and Sonic, so a single flaw can now drain funds on every network running it at the same time, and that's the form crypto's next systemic problem is likely to take.

We've seen this in November last year, when Balancer's V2 Composable Stable Pools were drained of roughly $128 million in under half an hour across six blockchains simultaneously.

According to Check Point Research, the attacker exploited an arithmetic precision flaw in the pools' invariant math, nudging token balances onto a rounding boundary and then chaining batched swaps until those tiny errors compounded into a full drain.

The contracts with the same vulnerability had been deployed on Ethereum, Arbitrum, Base, Polygon, Sonic, and OP Mainnet, so the exploit reached all of them at once because the flaw was embedded in the code itself, and that code had been copied everywhere.

As CryptoSlate reported at the time, eleven separate audits had failed to catch it, which tells you just how subtle this class of bug has become and why it's so much harder to anticipate than the attacks that came before.

The hacks got smaller as the chains multiplied

The encouraging part of the data is that the cheap, repeatable attacks that defined crypto's early years have mostly been engineered out of existence, and total losses dropped 80% in two years, even as DeFi's TVL kept climbing. A huge drop was also seen in the median loss per incident, which fell from $6 million in 2022 to $1.5 million in 2025, a 75% decline.

The count of unique incidents actually rose to 83 in 2025, so more hacks are happening while each one does far less damage, which is roughly what a maturing security field is supposed to look like.

Bridges were the defining vulnerability in 2021 and 2022, and in that second year alone, nine bridge exploits resulted in $1.9 billion in losses. These hacks were truly some of crypto's worst moments, with the Ronin Bridge accounting for a $624 million loss on its own.

CryptoSlate tracked it on-chain as the funds moved through Tornado Cash, followed by Binance Bridge at $570 million, Wormhole at $326 million, Nomad at $190 million, Harmony at $100 million, and Qubit at $80 million.

It accounted for 73% of all DeFi losses that year, and by 2025, the bridge's share had collapsed to 3%, thanks to improved verification mechanisms, decentralized validator sets, and a broader shift toward native cross-chain messaging.

Flash-loan attacks followed the same path down. They represented 54% of all losses in 2020 when they were the signature DeFi technique, and by 2025, they accounted for under 1%, because protocols adopted defenses tailored specifically to that attack: time-weighted average prices, Chainlink oracle integrations, reentrancy guards, and designs that assume an attacker can manipulate prices within a single atomic transaction.

Private-key compromises saw a similar decline, falling from 28.7% of losses in 2022 to 8.1% in 2025. Each of these categories shrank for the same underlying reason, which is that the industry recognized a repeatable pattern and built a standardized answer to it, and as CryptoSlate's year-end review of 2025 found, those answers have largely held.

What's left is harder to defend against

Closing off the generic attacks left behind a far more difficult category: in 2025, 89.1% of DeFi losses came from protocol logic exploits, meaning code-level flaws specific to how one application was designed. A bridge hack involves recognizable trust assumptions, and a flash-loan attack is part of a known family of techniques, so both can be defended with reusable patterns.

However, a protocol logic bug is bespoke by nature. It emerges from the particular math, access controls, or composability choices of a single codebase, making it hard to defend against systematically, because each instance is its own puzzle and shares little with the last.

Multi-chain deployment is what turns one of these bespoke bugs into a full-blown crisis. ImmuneFi's report draws a direct line from the defining multi-chain incident of 2021, the roughly $611 million Poly Network exploit, to Balancer in 2025.

Poly Network was a failure at the connection point between systems, the kind of choke point that bridges create, whereas Balancer was the same logic failing identically across networks that share code, signer paths, and verification assumptions. Once a chain becomes part of the default deployment map for major protocols, it absorbs the risk surface of everything it hosts, however sound its own infrastructure happens to be.

That changes how you measure an ecosystem's safety, and the report's method shows this by attributing the full loss from a multi-chain exploit to each affected chain, on the logic that participants across all six networks were exposed to the full impact.

The trade-off is that the 2025 hack figures for Polygon, OP Mainnet, Base, and Sonic are heavily influenced by the Balancer cascade. The report also strips out centralized exchange failures entirely, which is why the year's largest single theft, the $1.5 billion Bybit hack that the FBI attributed to North Korea, is considered a custody failure rather than a protocol one.

On a loss-to-TVL basis, the safest tier among major ecosystems was Ethereum at around 0.42%, Solana at 0.42%, and BNB Chain at 0.33%, the three largest DeFi ecosystems by value locked, which suggests scale and security have been improving together rather than at each other's expense.

While these changes fare much better for the average protocol, they're not so good for the average user. A loss can now occur in an app that carries a flaw imported from elsewhere, and the convenience that makes multi-chain apps appealing is what makes this mistake escalate from a local to a shared one.

Crypto spun up all these separate chains partly to avoid depending on any single system, and the irony is that running the same handful of popular protocols across all of them has rebuilt the concentration those chains were meant to escape.

The next big incident may look small on the day it lands (a single logic bug in a widely deployed protocol), but reveal its true size only once people realize the same vulnerable code was sitting on half a dozen networks the entire time.

The post DeFi’s old hack vectors are fading – But the new risk can hit six chains at once appeared first on CryptoSlate.

Gold just hit its lowest point of 2026, and the institutions that called the bull run are not flinching. It was triggered by the latest jobs report: the US economy added 172,000 jobs in May, nearly double the 85,000 analysts had forecast.

That single number sent the dollar higher, pushed bond markets to price a 68% chance of a Fed rate hike by December, and dropped gold 3.27% to $4,339, erasing all its gains for the year in a single session.

As BeInCrypto’s tracker of 2026’s top-performing assets showed, gold had been leading the field before this week’s reversal.

Why the US Jobs Report Drove Gold Price Down

When rate-hike odds rise, Treasury yields rise, and the cost of holding gold over a yield-generating bond increases. The Federal Reserve’s narrative has now fully reversed: markets entered 2026 pricing three rate cuts, and they now price a hike.

Cleveland Fed President Beth Hammack said the central bank may need to act soon to bring inflation back to 2%.

Additionally, the metal tracks rate policy more closely than almost any other macro variable.

What Goldman Sachs, JPMorgan, Deutsche Bank, and UBS Say About Gold Now

The sell-off has not moved Wall Street’s year-end views. Goldman Sachs holds a $5,400 year-end target.

JPMorgan puts the year-end case at $6,000 to $6,300, Deutsche Bank at $6,000, and UBS at $5,900.

All four see between 23% and 44% upside from current levels. Their shared thesis is that central bank buying, the structural shift by sovereign funds away from dollar-denominated reserves, and a geopolitical risk premium that Federal Reserve rate policy alone does not erase.

When Wall Street first set these targets, demand from non-Western central banks had reshaped the gold market, making it behave differently from previous cycles.

If the four banks are right, this week’s sell-off is the discount. If the Fed hikes and holds, gold’s structural bull case faces its first real test of 2026.

The post Gold Just Erased Its 2026 Gains But Four Banks Agree on What Comes Next appeared first on BeInCrypto.

Bitcoin spent Sunday evening, June 7, trading as a real-time diplomatic scoreboard. Israel struck sites in south Beirut linked to Hezbollah, the Iran-backed militant group active in Lebanon, killing two people and injuring at least 20.

Iran’s Islamic Revolutionary Guard Corps (IRGC) retaliated with what it called “warning strikes,” saying Israel should stand down or face a broader wave. Bitcoin reacted immediately, slipping from $62,000 to $61,200, before the move reversed. Then Trump responded, moving the markets.

Trump Overrules Netanyahu on the Iran Timeline

In an interview on Sunday evening, Trump left no room for ambiguity. “I call the shots. I call all the shots. He doesn’t call the shots,” Trump said, referring to Israeli Prime Minister Benjamin Netanyahu.

On the same evening, Trump said Netanyahu “won’t have any choice” but to accept whatever agreement Washington reaches with Iran.

He confirmed he called Netanyahu directly to urge him not to retaliate, said he was “not happy” with Israel’s strikes, and noted the attacks were not coordinated with the US.

Trump added that the deal was “almost complete” and expected to be announced at the start of the new business week.

When Trump’s diplomatic momentum last moved Bitcoin above $74,000, the market has consistently treated his deal-making language as a near-term price catalyst.

What the Bitcoin Iran Spike Actually Means

Bitcoin is trading roughly $20,000 below its mid-May peak of $82,000, with geopolitical pressure and rising Fed hike expectations driving almost the entire decline.

Sunday’s 5% spike in response to Trump’s remarks showed the market reading his language as different from previous peace optimism.

This time, it feels less like a ceasefire rumor and more like a direct statement that the US president intends to conclude this deal, with or without Israel’s cooperation.

The recovery from the $82,000 high tracks almost exactly with the collapse in ceasefire confidence since mid-May.

If Trump delivers more towards a peace deal on Monday, June 8, the price move so far could be the preview. As BeInCrypto’s coverage of previous ceasefire rallies showed, confirmed deals move Bitcoin significantly further than the diplomacy itself.

Trump has set his own deadline. The market will open on Monday, watching whether he delivers.

The post Bitcoin Price Jumped 5% as Trump Tells Israel “I Call the Shots” appeared first on BeInCrypto.

On June 5, Morgan Stanley Wealth Management, a leading American multinational investment bank and financial services company, announced the launch of its in-kind referral partnership with Galaxy Digital.

This agreement is expected to introduce a way for eligible clients to use in-kind creation for spot cryptocurrency exchange-traded products (ETPs).

Under this setup, clients will be able to convert the cryptocurrency they already hold into shares of spot crypto ETPs more easily than before.

This announcement is a major development where traditional finance is connecting with the digital asset sector. It is created on Morgan Stanley’s growing presence in the digital asset sector, including the launch of its own Bitcoin trust, called the Morgan Stanley Bitcoin Trust (MSBT), earlier in 2026.

How the Morgan Stanley-Galaxy Referral Works

This new partnership will allow clients of Morgan Stanley Wealth Management to lend their digital assets, such as Bitcoin, Ether, or Solana, to Galaxy Digital. In return, those clients will receive shares in spot crypto exchange-traded products, including Morgan Stanley’s own MSBT fund, which tracks the price of Bitcoin.

There are many major benefits of this partnership. At times, traditional processes can take more than 4 weeks. This referral system can shorten that time by up to 75% in some cases. Second, lower entry barriers.

Galaxy has reduced the minimum transaction size for referred clients from $25 million down to $5 million. This makes the service accessible to more qualified investors.

Another major benefit of this partnership is the integration of a better portfolio. Shares of the exchange-traded products can fit into existing brokerage accounts, and they support features such as margin trading and lending.

Morgan Stanley is providing educational materials and handles referrals only when clients ask for them without any solicitation. Galaxy manages the actual transactions, the process of bringing clients on board, and the execution of trades. The two firms are not affiliated, and Morgan Stanley does not receive any payment from these referrals.

Zane Glauber, Global Head of Distribution at Galaxy, stated in the press release that, “We are excited to support referrals from Morgan Stanley Wealth Management to offer an efficient and secure path to access spot crypto ETPs. Streamlined onboarding and lowered transaction minimums make it easier for clients to integrate digital assets alongside traditional investments, supporting a holistic approach to wealth management.”

Recent Progress in Crypto ETPs

In July 2025, the SEC approved in-kind creation and redemptions for certain Bitcoin and Ether exchange-traded products. This moved beyond the earlier system that only allowed cash transactions. This change improves liquidity, narrows the difference between buying and selling, and offers tax benefits because it avoids forced sales of assets.

Morgan Stanley itself launched the MSBT in April 2026. This made the company the first asset manager affiliated with a US bank to offer a crypto exchange-traded product. Other firms, such as Invesco with its Bitcoin and Ethereum ETFs that are partnered with Galaxy, have also expanded their digital asset offerings.

Alison Nest, Head of Investment Solutions Products, Morgan Stanley Wealth Management, said, “Morgan Stanley has been investing in the DeFi space for some time, and we are proud to support a referral capability with Galaxy to provide Wealth Management clients with an institutionalized pathway that helps integrate digital assets into their portfolio. This referral arrangement represents a significant step forward in bridging traditional finance and decentralized finance, providing more investors with streamlined opportunities to diversify.”

Recently, VanEck announced the launch of VBNB as the first U.S. spot ETF offering direct exposure to BNB.

On June 4, Ripple, the leading blockchain infrastructure, announced the multi-chain expansion of its native stablecoin, RLUSD, by using Wormhole’s Native Token Transfers (NTT). 

After its launch in 2024, this announcement is a major expansion for the RLUSD. The stablecoin is designed to meet various purposes, such as cross-border payments, institutional on/off-ramps, and tokenization use cases. The integration of the cross-chain bridge will increase the presence of Ripple’s native stablecoin on various Ethereum Layer 2 networks and related chains.

Wormhole Supports RLUSD’s Multi-Chain Push 

Wormhole is a major cross-chain bridge, which is used to connect different blockchain networks. Ripple will use Wormhole’s Native Token Transfers (NTT). This is different from the other bridges that create wrapped versions of tokens. The NTT standard will allow Ripple to issue and control its RLUSD stablecoin directly on each blockchain.

On the Wormhole bridge, users can transact RLUSD from one blockchain to another blockchain by using the system, where tokens are burned on the source chain and issued in the destination chain. This kind of mechanism allows the stablecoin to maintain its backing with USD, Treasury securities, and cash equivalents. RLUSD is also known for its compliance with digital asset regulation with great transparency.

The integration will improve the liquidity with low-cost transactions. This will help it to avoid the problems of fragmented or synthetic assets by allowing the native movement of RLUSD across different blockchains.

Stablecoin Market Soars with Growing Regulatory Clarity

The recent regulatory developments around the digital sector, like the GENIUS Act and CLARITY Act, have helped the stablecoin market to grow. According to DeFiLlama, the cumulative market capitalization of stablecoins has soared to around $320 billion.

RLUSD was launched in December 2024 on the XRP Ledger and the Ethereum network. It has grown steadily because of its regulated status. As of now, the stablecoin is holding $1.74 billion in total market capitalization with its presence on the XRP Ledger and the Ethereum blockchain network, according to rwa.xyz.

RLUSD is one of the most regulated stablecoins available in the market. Many institutions are planning to integrate these stablecoins to enhance cross-border transactions. Ripple’s stablecoin is also standing out in oversight from New York’s Department of Financial Services (NYDFS) trust company. Ripple has also applied for a federal OCC charter for even stronger dual regulation.

Recently, Mastercard also revealed its plan to increase its integration with the XRP Ledger (XRPL) in order to enhance support for settlement capabilities.

While the stablecoin market is growing steadily, JPMorgan Chase CEO Jamie Dimon has raised objections to the CLARITY Act to allow crypto companies to provide yields on stablecoins. He stated that this can create unfair competition and damage the financial stability of the traditional banking sector.

Jamie Dimon stated that “it allows them to effectively pay interest on deposits, stablecoins, or something like that, without the protection that they should have. The banks will not accept it that way. … I’m not worried about stablecoins, but if it happened, I’m telling you I will have nothing to do with it, and it will eventually blow up.”

Dogecoin started a recovery wave above the $0.0820 zone against the US Dollar. DOGE is now facing hurdles near $0.090 and might struggle to continue higher.

• DOGE price started a recovery wave from $0.0775 and climbed above $0.0820.
• The price is trading below the $0.0820 level and the 100-hourly simple moving average.
• There was a break above a bearish trend line with resistance at $0.0820 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could continue to move up if it stays above $0.090.

Dogecoin Price Faces Resistance

Dogecoin price started a recovery wave from the $0.0775 zone, like Bitcoin and Ethereum. DOGE climbed above the $0.080 and $0.0820 resistance levels.

There was a break above a bearish trend line with resistance at $0.0820 on the hourly chart of the DOGE/USD pair. There was a decent upward move above the 23.6% Fib retracement level of the downward move from the $0.1008 swing high to the $0.0776 low.

Dogecoin price is now trading above the $0.0820 level and the 100-hourly simple moving average. If there is another recovery wave, immediate resistance on the upside is near the $0.0865 level.

The first major resistance for the bulls could be near the $0.090 level or the 50% Fib retracement level of the downward move from the $0.1008 swing high to the $0.0776 low. The next major resistance is near the $0.0920 level. A close above the $0.0920 resistance might send the price toward the $0.10 resistance. Any more gains might send the price toward the $0.1035 level. The next major stop for the bulls might be $0.1050.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.090 level, it could continue to move down. Initial support on the downside is near the $0.0840 level. The next major support is near the $0.0820 level.

The main support sits at $0.0820. If there is a downside break below the $0.0820 support, the price could decline further. In the stated case, the price might slide toward the $0.0775 level or even $0.0750 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.0820 and $0.080.

Major Resistance Levels – $0.090 and $0.0920.

XRP price started a recovery wave above $1.10 and $1.1250. The price is now consolidating and might aim for a fresh move if it clears $1.1730.

• XRP price started a recovery wave above the $1.1250 zone.
• The price is now trading below $1.1220 and the 100-hourly Simple Moving Average.
• There was a break above a bearish trend line with resistance at $1.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could continue to move up if it settles above $1.1250.

XRP Price Eyes More Gains

XRP price remained supported above $1.050 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $1.10 and $1.120 to enter a short-term positive zone.

There was a break above a bearish trend line with resistance at $1.10 on the hourly chart of the XRP/USD pair. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $1.3640 swing high to the $1.052 swing low.

The price is now trading above $1.120 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.1720 level. The first major resistance is near the $1.2080 level and the 50% Fib retracement level of the downward move from the $1.3640 swing high to the $1.052 swing low.

A close above $1.2080 could send the price to $1.2150. The next hurdle sits at $1.220. A clear move above the $1.220 resistance might send the price toward the $1.2450 resistance. Any more gains might send the price toward the $1.2620 resistance.

Another Decline?

If XRP fails to clear the $1.1740 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.1250 level. The next major support is near the $1.110 level.

If there is a downside break and a close below the $1.110 level, the price might continue to decline toward $1.080. The next major support sits near the $1.050 zone, below which the price could continue lower toward $1.00.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $1.1250 and $1.1200.

Major Resistance Levels – $1740 and $1.2080.