Tag: Neutral

  • OKX to Support Base Network Upgrade

    OKX to Support Base Network Upgrade

    Base Network Upgrade to Trigger Service Suspension

    [City, Date] – Users of the Base network are advised of an upcoming upgrade that will necessitate a temporary suspension of deposit and withdrawal services for all tokens on the platform. The planned upgrade, detailed in the official Base network roadmap, is scheduled to commence on June 25, 2026, at 5:30 PM UTC.

    Service Interruption and Resumption

    Deposits and withdrawals for all tokens operating on the Base network will be halted from the specified time. The platform has indicated that services will be reinstated once the network has stabilized. No separate announcement will be issued to signal the resumption of these operations.

    User Action and Asset Security

    Holders of tokens on the Base network are informed that no immediate action is required on their part. Their assets are expected to remain secure throughout the upgrade process.

    Trading and Risk Management

    While trading of related tokens will continue unaffected, users are cautioned about the inherent risks associated with spot, margin, and derivatives trading of cryptocurrency assets. It is recommended that traders increase their margin in advance to mitigate potential risks during this period.

    Precautionary Measures

    To ensure the safety of user assets, individuals are strongly advised against depositing or withdrawing tokens on the Base network during the upgrade window. This precaution is intended to prevent any potential loss of funds.

    Further details regarding the network upgrade can be found in the official announcement released by the project team.

  • CBOE Debuts S&P 500 Prediction Markets

    CBOE Debuts S&P 500 Prediction Markets

    Cboe Global Markets has officially entered the prediction trading arena with the launch of its new platform, Cboe Predicts, featuring a suite of securities-based products.

    New Binary Options Tied to Mini-S&P 500

    The initial offering includes binary option contracts linked to the Mini-S&P 500 Index, trading under the symbols XSPBW and XSPBX. These contracts are currently accessible through Interactive Brokers, with plans for Charles Schwab to offer them in the coming months. Cboe anticipates that additional brokerage firms will integrate support for these new contracts over time, thereby expanding market access.

    How Cboe Predicts Works

    According to an official press release, the new products enable traders to speculate on the settlement price of the Mini-S&P 500 Index (XSP) at expiration. Traders can opt for a “yes” position if they anticipate the index will close at or above a predetermined level, or a “no” position if they expect it to finish below that threshold. The XSP index mirrors the performance of the S&P 500 Index but is scaled to one-tenth the size of the larger SPX contract, presenting a more accessible alternative for retail investors.

    Expanding S&P 500 Offerings

    These new products also represent an expansion of Cboe’s existing S&P 500-related offerings. The company has indicated plans to introduce XSP vertical spreads in the future via its Quoted Spread Book system. This system is designed to simplify complex options strategies, aiming to guide traders familiar with straightforward binary contracts toward more advanced trading approaches with defined risk parameters.

    The contracts will be cleared through the Options Clearing Corporation, which oversees the settlement process. Cboe stated that these contracts will operate under the same regulatory framework governing other options listed in the United States.

    Charles Schwab’s Perspective

    James Kostulias, Head of Trading Services at Charles Schwab, commented on the development, stating, “We support approaches that bring transparency, defined risk, and investor education to financial-related prediction markets. We plan to offer clients access to these binary options contracts in the coming months, building on our existing platform and demand from active traders.”

    This announcement follows remarks from Charles Schwab CEO Rick Wurster in December, who expressed skepticism regarding prediction markets. At the time, Wurster suggested that event contracts tied to sports or entertainment could blur the lines between investing and gambling, adding that such markets were “not high on our list at the moment.”

    Charles Schwab has been actively diversifying its offerings. Earlier this year, the brokerage launched Schwab Crypto, enabling retail clients in most U.S. states to trade Bitcoin and Ethereum directly on the same platform alongside traditional investments.

  • Bybit to Support Manta Network Upgrade

    Bybit to Support Manta Network Upgrade

    Bybit to Support Manta Network Upgrade, Halting Deposits and Withdrawals Temporarily

    Cryptocurrency exchange Bybit has announced its support for the upcoming Manta Network (MANTA) upgrade, scheduled for June 24, 2026, at 4:00 PM UTC.

    In preparation for the network enhancement, Bybit will temporarily suspend all MANTA deposits and withdrawals beginning at 3:30 PM UTC on the same day. The exchange has assured users that trading activities will remain unaffected during this period.

    Bybit also stated that no further announcements will be made regarding the resumption of deposit and withdrawal services. Users wishing to be notified when these services are back online are advised to visit the Deposit or Withdrawal page and activate the “Set Alert” function.

    Further details concerning the Manta Network upgrade can be found in the official release notes.

  • Portfolio Margin Collateral Ratio and USDⓈ-M Perpetual Contract Tiers Updated

    Portfolio Margin Collateral Ratio and USDⓈ-M Perpetual Contract Tiers Updated

    Binance to Adjust Portfolio Margin and Futures Leverage

    Binance announced it will update the collateral ratio and tiered collateral ratio for Portfolio Margin Pro assets under Portfolio Margin. The changes are scheduled to take effect on June 26, 2026, at 06:00 UTC and are expected to be completed within approximately 30 minutes.

    Portfolio Margin Adjustments

    The following assets under Portfolio Margin will see adjustments to their collateral ratios:

    | Asset (Portfolio Margin) | Collateral Ratio (Before) | Collateral Ratio (After) |
    | :———————– | :———————— | :———————– |
    | ADA | 85% | 80% |

    Portfolio Margin Pro Adjustments

    For Portfolio Margin Pro, the following assets will have their collateral ratios adjusted:

    | Asset (PM Pro) | Rank | Floor (USD) | Cap (USD) | Collateral Ratio | Rank | Floor (USD) | Cap (USD) | Collateral Ratio |
    | :————- | :— | :———- | :———— | :————— | :— | :———- | :———— | :————— |
    | TRX | 6 | 0 | 800,000 | 100% | 7 | 0 | 800,000 | 100% |
    | | | 800,000 | 1,200,000 | 95% | | 800,000 | 1,200,000 | 95% |
    | | | 1,200,000 | 4,000,000 | 75% | | 1,200,000 | 2,000,000 | 75% |
    | | | 2,000,000 | 99,999,999,999 | 50% | | 2,000,000 | 99,999,999,999 | 50% |
    | DOT, ARB, OP, ENA | 7 | 0 | 800,000 | 100% | 8 | 0 | 200,000 | 100% |
    | | | 800,000 | 1,200,000 | 95% | | 200,000 | 400,000 | 80% |
    | | | 1,200,000 | 2,000,000 | 75% | | 400,000 | 800,000 | 70% |
    | | | 2,000,000 | 99,999,999,999 | 50% | | 800,000 | 1,000,000 | 40% |
    | | | | | | | 1,000,000 | 99,999,999,999 | 20% |
    | VIRTUAL | 10 | 0 | 50,000 | 100% | 9 | 0 | 100,000 | 100% |
    | | | 50,000 | 100,000 | 80% | | 100,000 | 250,000 | 80% |
    | | | 100,000 | 200,000 | 50% | | 250,000 | 500,000 | 50% |
    | | | 200,000 | 400,000 | 20% | | 400,000 | 99,999,999,999 | 10% |
    | | | 400,000 | 99,999,999,999 | 10% | | | | |

    Binance Futures Leverage and Margin Tier Updates

    Binance Futures will also update the leverage and margin tiers for several USD-M Perpetual Contracts. These changes are scheduled for June 26, 2026, at 06:30 UTC and are expected to be completed within approximately one hour.

    Existing positions opened before these updates will be affected. Additionally, futures grid trading strategies may expire due to the changes in leverage and margin tiers, and users are advised to adjust their positions accordingly.

    Contracts Affected at 06:30 UTC on June 26, 2026:

    • BICOUSDT
    • ANIMEUSDT
    • WCTUSDT
    • 1000SATSUSDT
    • ZKCUSDT
    • BASEDUSDT

    Leverage and Margin Tiers for BICOUSDT, ANIMEUSDT, WCTUSDT, 1000SATSUSDT, ZKCUSDT, and BASEDUSDT:

    | Previous Leverage and Margin Tiers

  • Trump’s Quantum Computing Initiative Lauded, Bitcoin Adoption Cautioned

    Trump’s Quantum Computing Initiative Lauded, Bitcoin Adoption Cautioned

    Trump Accelerates Post-Quantum Cryptography Transition, Sparking Debate

    President Donald Trump’s executive orders aimed at accelerating the federal government’s shift to post-quantum cryptography by 2031 are eliciting both support and criticism from researchers. These experts suggest Washington is recalibrating its strategy in response to a rapidly evolving quantum landscape.

    The executive orders, signed by Trump on Monday, advance the federal deadline for adopting post-quantum cryptography from 2035 to 2031. This move comes as governments, technology companies, and cryptocurrency developers intensify their efforts to prepare for future quantum threats.

    Dr. Stefan Leichenauer, vice president of engineering and lead scientist at SandboxAQ, told Decrypt that while predicting an exact date for a cryptographically relevant quantum computer is challenging due to numerous unknowns, a timeframe of three to 10 years is plausible. “The critical point is that the consequences of a [cryptographically relevant quantum computer] are so profound that we must be prepared even for the most aggressive predictions,” he stated.

    However, Leichenauer also cautioned that organizations might already be behind schedule in their migration to post-quantum cryptography. “We are moving fast on [post-quantum computing] migration, but given the long transition times for many systems, we are likely already behind schedule,” he explained. ” [Post-quantum computing] migration is a multi-year process, and a [cryptographically relevant quantum computer] is likely to appear before we finish.” He described the executive orders as a necessary “wake-up call,” emphasizing quantum security as an urgent priority.

    Alex Pruden, CEO of quantum security firm Project Eleven, believes the White House’s revised timeline was long overdue. “There have been a lot of rumblings about advances in quantum computing, and other countries have updated their timelines, most recently France,” Pruden told Decrypt. “When this order came out, I guess my reaction was that’s good, that’s about time.”

    Pruden considers the 2028 target ambitious but no longer implausible. Project Eleven estimates a 50% probability of a cryptographically relevant quantum computer by 2033, and a 10% chance by 2030. “I think if you asked me that question two years ago, I would say there’s a 0% chance,” Pruden remarked. “Now I think there is a material chance.”

    Paul Stimers, a partner at Holland & Knight and executive director of the Quantum Industry Coalition, noted that the executive orders reflect a growing consensus that the timeline for a cryptographically relevant quantum computer is shrinking. “Quantum industry roadmaps are beginning to converge around the 2028-2030 timeframe,” Stimers told Decrypt. He cautioned, however, that public estimates might not account for classified quantum computing programs, either domestically or internationally.

    Stimers also highlighted a more immediate concern: adversaries are already collecting encrypted data in anticipation of future decryption capabilities. “Because adversaries are already stealing encrypted data and holding it until they can decrypt it with a cryptographically relevant quantum computer, the threat is immediate and the time to address it is now,” he said. “Migrating to post-quantum encryption and agile cybersecurity takes time. The cybersecurity [executive order] balances urgency with realism.”

    He added that coalition members have responded positively to the executive orders, appreciating their focus on manufacturing, commercialization, deployment, and industry engagement alongside research. Stimers described the administration’s post-quantum cybersecurity roadmap as ambitious yet achievable.

    Mixed Reactions to Government’s Quantum Push

    Not all observers view the executive orders as a proactive measure. Some critics on social media argued that the urgency surrounding post-quantum cryptography is long overdue, given that sensitive data is already being collected and stored with the expectation that future quantum computers could eventually decrypt it.

    Others, including quantum physicist Anastasia Marchenkova, suggested that while the administration’s messaging around “quantum dominance” is effective in raising awareness and attracting investment, it could also foster unrealistic expectations about the industry’s ability to deliver practical results quickly.

    “Getting ‘quantum’ into the national conversation genuinely helps—budget, interest, new talent in the pipeline—and that’s what moves us from research to commercialization and builds real picks-and-shovels businesses,” Marchenkova told Decrypt. “But readiness is boring and unglamorous: agility, migration, actually shipping the defense, not just hyping the offense of breaking encryption or building a quantum computer,” she added. “If the deadlines slip—and some will—the vaporware crowd gets louder,” she warned. “And now that there are public quantum companies, these announcements do move the market significantly, even though we are unsure what the long-term effects will be.”

    Despite these concerns, Marchenkova stated that the executive orders are not fundamentally flawed. “The ‘how’ is what’s missing,” she noted. “We now have several standardized post-quantum algorithms and real confusion about which to use where, and which is best. The order says ‘migrate,’ not ‘here’s how to choose.’”

    Christopher Tam, president and head of innovation at BTQ Technologies, believes the administration’s 2031 deadline for federal agencies to migrate high-value assets to post-quantum cryptography remains too slow, especially considering the pace of industry efforts and the potential risks posed by quantum computing. “I would have made it more urgent,” Tam told Decrypt, pointing out that companies like Google have already set 2029 targets for post-quantum migration. “It seems sort of odd that the federal government would lag behind industry by two years.”

    Tam also questioned the order’s limited scope, arguing that it primarily targets federal systems, leaving significant portions of the financial sector and the broader industrial base outside its immediate purview. Nevertheless, he credited the administration for linking quantum computing and cybersecurity initiatives through separate but related executive orders. “If there’s advancements in quantum computing research and the successful development of which, then it carries with it the burden or risk of quantum cryptographic attacks,” Tam said. “That’s really why we saw these two executive orders go hand in hand.”

    For cryptocurrencies, however, Tam described the challenge as more complex. While regulators can influence banks and other financial institutions, decentralized networks like Bitcoin cannot be directed through executive action. “You can’t issue an executive order for Bitcoin,” he stated. “There’s no one who will respond to that.”

    Bitcoin Faces a Coordination Problem

    The executive orders arrive as the cryptocurrency industry grapples with how to transition to quantum-resistant security. In March, BTQ Technologies launched a Bitcoin test network based on the quantum-resistance proposal BIP-360. In April, developers published BIP-361, a proposal designed to freeze Bitcoin held in vulnerable legacy addresses if owners fail to migrate to quantum-resistant alternatives. Meanwhile, developers behind other networks such as Stellar and Algorand have released roadmaps for adopting quantum-resistant cryptography.

    Pruden noted a significant increase in awareness of the issue over the past year, but progress in implementing solutions remains limited. Unlike many blockchain networks, Bitcoin lacks a foundational body or governing entity capable of directing a migration effort. Consequently, any transition would necessitate coordination among developers, miners, exchanges, custodians, and major holders. “Awareness in people’s minds is actually where it needs to be,” Pruden said. “Now there’s a question of what’s being done.”

  • Bitcoin Defends Support Amidst Faltering Bullish Momentum: Bitfinex Alpha

    Bitcoin Defends Support Amidst Faltering Bullish Momentum: Bitfinex Alpha

    Bitcoin Holds Key Price Floor Despite Weak Bullish Signals

    Over the past week, Bitcoin (BTC) has navigated a trading range between $62,000 and $72,000. Despite the absence of definitive bullish conditions, the leading digital asset has managed to maintain its price floor.

    Analysts at the cryptocurrency exchange Bitfinex, in their latest Bitfinex Alpha report, highlighted that the current crypto market environment is undergoing a significant shift, influenced by evolving expectations of the Federal Reserve and persistent inflation risks. These factors have collectively exerted near-term pressure on risk assets such as gold and Bitcoin; however, Bitcoin’s support level has remained steadfast.

    On-chain data suggests a stalemate between bullish and bearish forces, with neither side firmly in control. As BTC trades within the $62,500 to $72,000 consolidation zone, the market appears to be in a state of indecision rather than a sustained downturn.

    Bitfinex analysts identified two potential bullish tests that could have signaled a sustained uptrend on lower timeframes, but both ultimately failed. These tests included a consistent bid from the spot exchange-traded fund (ETF) market and a stabilization in the derivatives market, with funding rates moving from neutral to negative.

    In light of these failed tests, two opposing forces are currently influencing market sentiment regarding inflation. One is the potential for easing energy risks, possibly stemming from a peace agreement between the U.S. and Iran. The other is the Federal Reserve’s continued focus on inflationary pressures, rather than the immediate relief seen in crude oil prices.

    For Bitcoin to continue holding its current price floor, experts suggest the Federal Reserve must demonstrate restraint. The market’s trajectory remains uncertain until such clarity emerges.

    The analysts further elaborated that Bitcoin ETFs currently serve as the primary indicator of the market’s indecisiveness. These products have been unable to establish a bullish trend and have instead seen a reversion to net redemptions. While the total trading volume across ETFs has decreased significantly, it has not yet fallen to levels that would strongly support a bearish outlook. Consequently, ETFs are also in a state of limbo, not indicative of a bear market.

    From a structural perspective, Bitcoin is currently trading below the cost basis of active investors. The $68,500 to $72,000 zone is identified as the primary overhead supply band. Analysts anticipate further price compression within the $62,000 to $64,000 range, or potentially broader fluctuations between $60,000 and $70,000 in the coming days.

    As the market eventually leans towards either bullish or bearish sentiment, the $68,500 to $72,000 range is expected to act as significant resistance. Many investors within this range are currently at a loss and are likely to sell to break even. Therefore, Bitcoin now faces three key price levels: the foundational floor at $54,000, the $72,000 break-even point for recent buyers, and the $77,200 hurdle for short-term holders.

  • XRP: Quiet Price, Loud Growth

    XRP: Quiet Price, Loud Growth

    XRP Price Consolidates Amidst Market Headwinds, Analysts Eye Key Support Levels

    XRP is currently navigating a challenging period, trading around the $1.10 mark and experiencing a roughly 3% decline today. Despite the price dip, the digital asset is maintaining a significant daily trading volume of $1.5 billion, a figure that suggests underlying activity remains robust even as the price falters.

    Sustained Volume Hints at Enduring Interest

    Data from Coinglass, highlighted by analysts this week, counters concerns about XRP’s diminishing relevance. Over the past seven days, XRP has seen nearly $17 billion in trading volume, even as its price fell by more than 11%. This sustained high volume is a notable indicator, as assets that are genuinely losing traction typically do not maintain such participation levels. The attention appears to be present, but current market conditions are preventing buyers from aggressively pursuing it.

    Macroeconomic Factors Contribute to Cautious Sentiment

    Broader macroeconomic pressures are also impacting XRP’s performance. Nasdaq futures saw a decline of approximately 2.5% amid a global selloff in chip stocks, contributing to a general sense of caution in risk appetite. This wider market context suggests that XRP’s current consolidation phase may be less a sign of fundamental weakness and more a reflection of a market-wide pause.

    Technical Outlook: Key Levels to Watch

    XRP’s price is currently fluctuating within the $1.10 to $1.15 range, a zone that traders are observing as a short-term pivot point. The weekly chart indicates a near-term downside bias in XRP’s momentum. While the consistent daily volume, averaging around $3 billion, suggests the absence of a liquidity vacuum, volume alone is insufficient to reverse an established trend.

    The critical level to monitor is the psychological support at $1.00. This represents a significant line in the sand below the current price. Should this level break, a deeper structural floor exists in the $0.90 to $0.95 region. On the upside, the $1.20 to $1.25 range presents the first meaningful resistance cluster. A reclaim of this zone on increased volume would serve as the clearest short-term bullish signal.

    Potential Catalysts and Future Scenarios

    An XRP ETF, if it maintains its inflows, could potentially trigger a volume-backed breakout above $1.25, paving the way toward the $1.50 to $2.00 range. Conversely, a sustained close below $1.00 accompanied by elevated selling volume would significantly shift the technical structure to a more bearish outlook, bringing $0.90 into play and invalidating the “quiet accumulation” thesis.

    The narrative surrounding an XRP ETF and ongoing regulatory developments concerning Ripple remain the primary catalysts influencing price action. The pattern of price cooling while underlying infrastructure continues to build is a recognizable phenomenon in the market.

    Market Cap and Shifting Investor Focus

    XRP’s ability to maintain a $69 billion market cap during an 11% weekly drawdown points to genuine staying power. However, this substantial market capitalization also means that the window for asymmetric upside potential is narrower compared to two years ago. Investors seeking outsized early-stage exposure are increasingly directing their attention to assets with lower market caps.

    LiquidChain Emerges as a Layer 3 Infrastructure Solution

    LiquidChain ($LIQUID), a Layer 3 infrastructure project, is addressing the structural problem of liquidity fragmentation across major blockchain networks such as Bitcoin, Ethereum, and Solana.

    The project’s Unified Liquidity Layer aims to integrate the BTC, ETH, and SOL ecosystems into a single execution environment, allowing developers to deploy applications once and access all three networks. Core architectural features include Single-Step Execution and Verifiable Settlement, presented as established functionalities rather than future roadmap promises.

    The LiquidChain presale is currently priced at $0.01472, having raised $860,000 to date.

  • DeXe Surges 50% Amid Crypto Slump: What’s Next?

    DeXe Surges 50% Amid Crypto Slump: What’s Next?

    The cryptocurrency market has experienced significant volatility recently, with the past 24 hours marked by another substantial correction. Bitcoin (BTC) briefly dipped below $62,000, and many altcoins also saw their values decline.

    However, DeXe (DEXE) bucked the bearish trend, surging by double digits over the last day. While some analysts foresee continued short-term gains, a key technical indicator suggests a pullback may be imminent.

    The lesser-known altcoin is currently trading around $23, according to CoinGecko, representing a remarkable 50% increase from its value yesterday. Its market capitalization has now surpassed the $1 billion mark, positioning DEXE as the 65th-largest cryptocurrency.

    Potential Catalysts for the Rally

    A significant factor contributing to DeXe’s surge appears to be the support from MEXC. The prominent cryptocurrency exchange has integrated DEXE into its futures trading platform, offering leverage of up to 50x.

    Analyst Perspectives on DEXE’s Trajectory

    One analyst, known as “The Boss” on X, commented that DEXE “is showing one of the strongest structures” among altcoins, highlighting buyers’ swift response to any pullbacks. This observer noted the $24 resistance level, suggesting that if bulls can convert this into support, the uptrend could extend to $39. DeXe has been available since late 2020 and reached an all-time high of nearly $30 the following year, meaning such an increase would set a new historic record.

    Another analyst, OxNeena, also weighed in, stating that DEXE is breaking out of a bullish Cup & Handle formation, which could propel its price above $27 in the near future.

    Counterarguments and Warning Signs

    In contrast to the prevailing optimism, some market participants anticipate an upcoming correction. Crypto with Haris ₿, for example, has initiated a $40,000 short position on DEXE, identifying the $22.80-$23.30 range as “very important.”

    “If buyers were still fully in control, price should have already reclaimed the recent highs. Instead, DEXE is struggling below resistance while volume is cooling down. That usually happens when a trend starts losing strength,” the analyst explained. They further predicted that a drop below $22 could send the price as low as $18.

    DeXe’s Relative Strength Index (RSI) also presents a potential warning. Its ratio has climbed to 87, indicating that the coin has entered extremely overbought territory and may be due for a correction. The RSI scale ranges from 0 to 100, with readings below 30 typically considered a buying opportunity.

  • Senate Faces 60-Vote Hurdle for CLARITY Act

    Senate Faces 60-Vote Hurdle for CLARITY Act

    House Committee Schedules Key Hearings on Monetary Policy and Crypto Regulation

    The House Financial Services Committee has scheduled a pair of high-profile hearings for July 14 and July 17, focusing on Federal Reserve monetary policy and the CLARITY Act, respectively. These sessions represent a significant platform for proponents of comprehensive cryptocurrency regulation as the legislative calendar narrows ahead of the August recess.

    CLARITY Act Faces Senate Hurdles

    The CLARITY Act has advanced through the Senate Banking Committee and is now on the Senate legislative calendar. The bill also has a commitment for a fast-track process in the House should the Senate approve it first. However, the core challenge remains: the CLARITY Act requires 60 votes for passage on the Senate floor, and with Republicans holding 53 seats, at least seven Democratic senators must be persuaded to vote in favor.

    Senator Cynthia Lummis, a Republican from Wyoming leading the Senate’s efforts, has set a firm deadline of the end of July for passage. She has warned that missing this pre-recess window could postpone the implementation of digital asset market structure rules until 2030.

    The path from being placed on the legislative calendar to becoming law involves a critical procedural hurdle: invoking cloture to end debate. This requires 60 votes. The Senate Banking Committee’s vote on May 14 saw only two Democrats, Ruben Gallego and Angela Alsobrooks, support the bill, indicating a need to secure five or more additional Democratic votes for a successful floor vote.

    A bipartisan ethics provision within the bill has reportedly fragmented Democratic support. Fox Business reporter Eleanor Terrett described the White House’s initial target of July 4 for passage as “logistically impossible” even before the date arrived. Galaxy Research estimates the odds of passage at approximately 60%, noting that the legislative window “effectively closes” with the start of the August recess.

    Reconciliation and Future Prospects

    Even if the CLARITY Act clears the 60-vote threshold in the Senate, it will still need to be reconciled with the version passed by the House in July 2025 by a vote of 294-134. Representative Dusty Johnson has pledged that the House will act “swiftly” on any Senate-approved text, but differences between the two versions will need to be resolved before the bill can be sent to the president.

    Should the bill miss the pre-recess window, the next significant legislative opportunity is unlikely before 2027, with some analysts suggesting an even later timeframe. This aligns with Senator Lummis’s warning about a potential 2030 delay.

    Hearings to Shape Regulatory Landscape

    The July 14 hearing before the House Financial Services Committee will formally address the Federal Reserve’s semi-annual Monetary Policy Report. However, its significance extends to the broader market. This session is expected to feature the first congressional testimony from Kevin Warsh as Fed Chair, providing lawmakers an opportunity to question the new leadership’s stance on interest rate policy, dollar strength, and the regulatory framework surrounding financial innovation.

    For cryptocurrency markets, Warsh’s perspective on digital assets—whether viewed as a monetary policy factor or a distinct regulatory concern—will be influential heading into the CLARITY Act hearing three days later.

    The July 17 hearing will shift focus directly to the CLARITY Act and digital asset innovation. Notably, this session will be held in New York, the nation’s primary financial hub, rather than Washington D.C. This venue choice aims to underscore the bill’s relevance to institutional finance and the economic constituency in the city, including exchanges, custody providers, and capital markets participants, who are currently impacted by regulatory uncertainty.

    Collectively, these two hearings are designed to present a sequenced argument for the bill’s backers: establishing the monetary policy context on July 14, followed by a deep dive into market structure specifics on July 17. The New York session will highlight the expanded role of the CFTC under the proposed legislation and the digital asset market structure framework it would establish. While the hearings serve as a narrative event, the ultimate success of the CLARITY Act hinges on the subsequent floor vote.

  • XRP Price Poised for Surge Past $8, But Key Zone Remains Resistance

    XRP Price Poised for Surge Past $8, But Key Zone Remains Resistance

    Ripple (XRP) has seen its value plummet by nearly 10% over the past week, thwarting multiple attempts at recovery. The cryptocurrency is currently trading around $1.11, following a 2% dip on Tuesday.

    Potential for Significant Gains

    Despite the recent downturn, a market analysis by crypto analyst EGRAG CRYPTO suggests that XRP could surge to between $5.70 and $8 if historical price patterns surrounding a key technical level hold true.

    EGRAG CRYPTO highlighted that XRP’s “Central Line” has historically served as a dividing point between periods of accumulation and significant price expansion. The analyst noted that the token has experienced substantial gains in previous market cycles after breaking above this level, leading to the identification of two potential upside targets for the current cycle.

    According to the analyst’s chart, XRP is presently trading below the Central Line, which is positioned above the asset’s current market price and is projected to move into the approximately $2.20-$2.60 range over time. These projected targets are based on historical percentage gains above this level, rather than XRP’s current trading price.

    EGRAG CRYPTO detailed that in one past cycle, XRP surged approximately 330% above the Central Line, while another saw gains of around 200%. An average of these movements suggests a potential expansion of roughly 265% above the Central Line, which the analyst estimates could place the asset near the $8 mark.

    The analyst also presented a more conservative outlook, where XRP achieves only a portion of the gains seen in prior cycles. In this scenario, if the market delivers approximately 60% of the strength observed in the previous cycle, it would translate to an increase of about 120% above the Central Line, setting a target near $5.70.

    Based on these calculations, EGRAG CRYPTO has identified $5.70 as the conservative target and $8 as the objective based on average historical cycle performance. These projections are rooted in historical price expansions above the Central Line, independent of current market sentiment.

    The analyst cautioned that XRP remains below the Central Line, indicating it is still trading within an “uncomfortable zone.”

    Easing Selling Pressure and Shifting Exchange Activity

    Meanwhile, separate data from CryptoQuant indicates a potential easing of selling pressure on XRP, as large holders appear to be reducing transfers to Binance. Whale activity on the exchange has decreased in recent weeks, suggesting a reduction in short-term selling. However, XRP continues to trade below the McGinley Dynamic indicator, signaling weak overall momentum. A reclaim of this level is deemed necessary to support a stronger recovery, with the $1.08 area remaining a crucial support zone.

    Concurrently, XRP activity has shown a notable shift towards South Korea’s Upbit exchange. Data reveals that Upbit’s net wallet-flow dominance surged from 13% on June 8 to 37% by June 22, marking its highest level in over a year.

    During the same period, Binance’s reading dropped from 16% to zero, while Crypto.com also fell to zero, and Coinbase remained around 9%. Just two weeks prior, Binance had slightly outperformed Upbit, but the latest figures indicate a growing concentration of XRP deposits on the South Korean platform. This metric tracks whether deposits exceed withdrawals on individual exchanges, rather than total XRP holdings.