UpGate

Tag: Positive

  • Kraken Parent Eyes Global xStocks Offering

    Kraken Parent Eyes Global xStocks Offering

    Kraken Parent Company Partners to Expand Tokenized Stocks Globally

    Payward, the parent company of cryptocurrency exchange Kraken, has partnered with global fintech firm GTN to expand its xStocks offering beyond the United States market for the first time.

    Currently, xStocks are exclusively U.S. equities, but they are only accessible to investors outside the United States. This new initiative aims to broaden the offering to include equities from various global markets.

    Kraken’s xStocks are blockchain-based tokens, with each token backed one-to-one by a real company share held in regulated custody. This expansion into international equities represents a significant step forward for tokenized stocks, a rapidly growing sector within the crypto market.

    “Financial institutions are looking to enter new asset classes and markets without the burden of rebuilding their existing technology,” stated Ankit Shah, GTN’s Global Head of FinTech. “Our infrastructure enables partners like Payward to launch swiftly across more than 90 markets and a comprehensive range of instruments, and it includes the crucial sub-accounting technology that Kraken requires to offer tokenized products.”

    The collaboration will commence with equities listed in Hong Kong, with subsequent expansion planned for the U.K., European, and South Korean markets. Pending regulatory approvals in each jurisdiction, the partnership also opens avenues for tokenizing asset classes beyond equities.

    According to a company release, xStocks were first introduced in June 2025, initially featuring a limited catalog of U.S. stocks and ETFs. The offering has since grown to encompass over 500 tokenized assets, facilitating more than $35 billion in transaction volume. It is important to note that xStocks are not available to U.S. residents.

    Under the terms of the agreement, GTN will provide the global regulated infrastructure for trade execution and custody. Payward, in turn, will leverage its xStocks framework to tokenize international equities and integrate them onto blockchain networks.

    Mark Greenberg, global head of Payward Services, highlighted the problem this partnership aims to solve: tokenized assets offer users the ability to trade a wide array of assets without the complexities of localization.

    “For decades, we’ve accepted that capital markets should be fragmented by country, currency, and market hours. This is a problem stemming from legacy financial infrastructure,” Greenberg commented.

    The partnership is already operational at the infrastructure level. Distribution to GTN’s institutional clients will follow once the necessary licenses are secured in each respective market.

    Several major players are pursuing similar strategies. Robinhood launched its tokenized equities product on its proprietary blockchain on July 1, and Coinbase is preparing a similar 1:1-backed offering through its Base network.

    In March, Payward and Nasdaq announced a tokenized equities gateway, with a target launch in early 2027. Earlier, xStocks expanded its reach to Telegram’s TON Wallet, exploring the potential for mass-market distribution to unlock scalability.

    What distinguishes the GTN deal is its ambitious global scope. While Robinhood and Coinbase are focusing on U.S. stocks, Payward is targeting a much broader market, beginning with Hong Kong and eventually encompassing GTN’s network of over 90 markets.

  • Crypto Industry Sues Illinois Over Digital Asset Tax

    Crypto Industry Sues Illinois Over Digital Asset Tax

    Digital Chamber Sues to Block Illinois’ New Crypto Tax

    The Digital Chamber (TDC), an industry advocacy group, has filed a lawsuit seeking to halt Illinois’ upcoming tax on digital assets, arguing that the measure unfairly targets blockchain transactions for discriminatory reasons.

    Illinois’ Digital Asset Tax Act (DATA), slated to take effect on January 1, 2027, will impose a 0.02% levy on the full value of a digital asset each time it is transferred. The tax is applicable to cryptocurrency exchanges, wallet providers, and custodians operating within the state, as well as those generating over $100,000 in Illinois receipts from their services.

    This law marks a first in the United States. Critics contend that it would result in multiple layers of taxation on a single transaction, thereby increasing costs and potentially stifling cryptocurrency activity in Illinois. Miles Jennings, a crypto executive at Andreessen Horowitz, has characterized the legislation as one of the most “anti-crypto laws” in the U.S.

    The Digital Chamber is now petitioning the court to prevent the enforcement of the tax provision, asserting that individuals should not face differential treatment for engaging in digital asset transactions. The group also claims the clause was added to the legislation on the eve of its final vote, precluding any substantive public hearing.

    “Today we filed a suit in Sangamon County, IL, to stop the Digital Asset Tax Act..it was slipped into the budget the night before the final vote,” the organization stated.

    TDC members are also seeking a judicial ruling that the crypto tax violates both state and federal constitutions, and they are requesting reimbursement for the lobbying group’s legal expenses and court costs.

    The lawsuit highlights that the legislation does not differentiate between profitable and loss-making transactions. Instead, it distinguishes between transactions based on the technology used to record ownership. This means that digital asset transactions recorded on a blockchain are treated differently from those utilizing traditional financial systems, which TDC argues constitutes unequal treatment. “No one should be taxed differently because of how ownership of digital assets is recorded or transferred,” the group stated.

    Cody Carbone, CEO of TDC, emphasized that taxation policies require careful consideration to ensure fairness for all parties involved, adding that the lawsuit aims to protect consumers and the group’s members.

    While Illinois adopts a more restrictive stance with its pioneering crypto tax, other states such as Texas and Florida are pursuing a more accommodating approach through crypto-friendly legislation. Texas, for instance, has enacted laws permitting Bitcoin to be held in state reserves, while Florida has banned the use of Central Bank Digital Currencies (CBDCs) and eased regulations for non-custodial crypto operators.

  • Coinbase Eyes Canada for Stocks, Crypto, and Prediction Markets

    Coinbase Eyes Canada for Stocks, Crypto, and Prediction Markets

    Coinbase Aims to Be Canada’s All-in-One Financial App

    Coinbase is shifting its strategy in Canada, urging consumers to view the company not merely as a cryptocurrency exchange but as the sole financial application they might need.

    Eric Richmond, CEO of Coinbase Canada, stated this week that the company is promoting its “Everything Exchange” concept north of the border. This initiative envisions a single platform where Canadians can manage their cryptocurrency, stocks, exchange-traded funds (ETFs), and prediction markets from a single account.

    “I believe chapter one of Coinbase in Canada was primarily about being a crypto exchange,” Richmond explained. “But now, phase two is the Everything Exchange. Our goal is to create a singular destination for Canadians to manage their entire financial experience within one app, powered by technology that ensures frictionless, seamless, and 24/7 operations.”

    A definitive launch date for Canada has not yet been established. Coinbase indicated it is working closely with Canadian regulators, a relationship it has fostered since becoming the first international crypto exchange registered in the country in April 2024.

    In the United States, this expansion is already in progress. Coinbase introduced stock and ETF trading to eligible American users in February 2026 and launched prediction markets in January through Kalshi, a federally regulated operator now valued at $22 billion. As previously reported, the company’s roadmap for the Everything Exchange now encompasses nearly 10,000 stocks and ETFs on a unified platform.

    Tokenized stocks, which are shares of real companies recorded on a blockchain rather than through traditional brokerage systems, allowing for instant trade settlement and continuous market operation, are slated for release to non-U.S. customers this month, according to an earlier official blog post. Richmond characterized this development as a matter of enhancing access.

    Regarding competition from platforms like Robinhood and established Canadian brokerages, Richmond expressed minimal concern. “I think people are beginning to recognize the limitations of traditional finance, such as banks closing at 4 p.m., markets closing at 4 p.m., wire transfers taking days to settle, or the restricted access high-net-worth individuals have to certain products,” he told BNN Bloomberg.

    He summarized his outlook with the phrase: “Rising tide lifts all boats.”

    The Bank of Canada is expected to finalize regulations for stablecoins in 2027. This is anticipated to be the final significant regulatory hurdle Coinbase needs to clear before it can list a Canadian dollar stablecoin and fully implement the Everything Exchange across the country.

  • Franklin Templeton: Agentic AI’s Transaction Needs Could Drive Blockchain Adoption

    Franklin Templeton: Agentic AI’s Transaction Needs Could Drive Blockchain Adoption

    Traditional payment networks, built for human-scale commerce, may struggle to accommodate the immense transaction volumes projected for autonomous AI agents, according to an analysis by Franklin Templeton. The asset manager suggests that the transactional demands of agentic AI could become a significant catalyst for the adoption of blockchain technology.

    Agentic AI refers to software that can act, make decisions, and execute payments autonomously on behalf of users without constant step-by-step human oversight. This capability differentiates it from current chatbots, marking a shift towards AI systems that can perceive their environment, devise plans, and carry out multi-step tasks independently. Franklin Templeton manages nearly $1.8 trillion in assets, lending weight to its analysis.

    The Transactional Bottleneck

    The core argument presented is that the sheer volume of transactions generated by agentic AI—whether for purchasing data, cloud compute, or booking services—will far exceed the capacity of existing financial infrastructure. Traditional payment networks like Visa, while capable of processing between 1,700 and 10,000 transactions per second in normal operations, primarily record transactions, with final settlement taking one to three business days. In contrast, newer blockchain networks can record and settle transactions simultaneously within their operational speeds. For instance, Aptos can handle up to 12,933 transactions per second, Solana up to 6,284, and BNB Chain up to 3,252.

    Blockchain as a Potential Infrastructure

    This transactional capacity is seen as crucial for agentic AI. Franklin Templeton posits that these autonomous agents will likely utilize crypto rails for their transactions rather than traditional financial systems. The analysis suggests that the growth of agentic AI could become the ‘killer’ use case driving broader blockchain adoption.

    Several initiatives are already emerging in this space. Coinbase has introduced tools enabling AI agents to trade and pay autonomously. Google, backed by the Ethereum Foundation, unveiled a payment protocol for agents slated for 2025. Furthermore, the x402 Foundation, including participants like Visa, Mastercard, and AWS, formally launched on July 14 to develop open payment rails for AI, utilizing an HTTP status code from 1991 for direct software-to-software payments.

    Projected Impact and Lingering Questions

    Projections indicate a substantial impact on commerce. AI agents are expected to account for 15% to 25% of all U.S. e-commerce sales by 2030. Agentic commerce, encompassing AI systems transacting autonomously, is projected to reach between $3 trillion and $5 trillion by 2030, according to reports cited by Franklin Templeton.

    However, uncertainties remain. The exact timeline for widespread agentic AI adoption and its reliance on blockchain is unclear. It is also uncertain which specific cryptocurrencies will benefit most from this trend. The extent to which traditional financial systems will adapt or be supplanted by blockchain for AI transactions is another open question.

    Despite these uncertainties, the analysis from Franklin Templeton highlights a potential future where the operational demands of advanced AI could significantly reshape the landscape of digital transactions and drive further integration of blockchain technology into the global financial infrastructure.

    Why This Matters

    The materials describe a narrow update: Franklin Templeton published a paper arguing that agentic AI, which acts autonomously on behalf of users, will rely on blockchain technology and cryptocurrencies for its transactions rather than traditional financial systems. The exact timeline for widespread adoption of agentic AI and its reliance on blockchain.

    Broader Context

    Source materials place the market analysis in this context: Sandy Kaul, Head of Digital Assets and Innovation at Franklin Templeton, published a paper.

  • Bitwise CIO Identifies ‘Hyperliquid’ and ‘Robinhood’ Lanes as Potential Crypto Bull Market Leaders

    Bitwise CIO Identifies ‘Hyperliquid’ and ‘Robinhood’ Lanes as Potential Crypto Bull Market Leaders

    Bitwise Chief Investment Officer Matt Hougan has identified two distinct investment categories, dubbed the ‘Hyperliquid Lane’ and the ‘Robinhood Lane,’ as poised to lead the next cryptocurrency bull market. According to Hougan, the future growth of the crypto market may be driven by the convergence of on-chain activities and traditional finance.

    Why This Matters

    The materials describe a narrow update: Bitwise Chief Investment Officer Matt Hougan believes the next crypto bull market may be driven by the convergence of on-chain and traditional finance. It is still too early to declare the market has fully recovered.

    The Hyperliquid Lane: Revenue and Tokenomics

    The ‘Hyperliquid Lane,’ as described by Hougan, encompasses crypto financial applications that demonstrate strong tokenomics and generate significant revenue. These platforms are characterized by their ability to link token value directly to platform activity. Hyperliquid, a prominent example within this category, has surpassed $1 billion in lifetime revenue as of June and is on pace to generate approximately $800 million in revenue this year. Notably, 99% of Hyperliquid’s protocol revenue is utilized for buying back its native HYPE tokens, a mechanism that differentiates it from many earlier crypto applications that attracted users without delivering similar value to token holders. Hougan anticipates that more crypto projects may adopt similar tokenomics in the future.

    The Robinhood Lane: Established Infrastructure

    In contrast, the ‘Robinhood Lane’ consists of established companies actively building financial services on blockchain infrastructure, rather than solely conducting pilot programs. Robinhood’s recent launch of its Layer 2 blockchain serves as a key example. Within two weeks of its July 1 launch, the Robinhood Chain accumulated over $300 million in deposits and processed 3.6 million daily transactions. Hougan suggests that companies experimenting with crypto at a significant scale gain practical experience as financial markets evolve, positioning them favorably.

    Market Context and Future Outlook

    The broader trend driving these categories, according to Hougan, involves the integration of on-chain and traditional finance through elements such as stablecoins, tokenization, 24/7 trading, instant settlement, and institutional decentralized finance. While improving market sentiment, positive ETF flows, and Bitcoin’s recent performance have prompted discussions about potential market recovery and future drivers, Hougan cautioned that it is still too early to declare the market has fully recovered.

    The crypto market is showing signs of bottoming, and the increasing integration of blockchain technology with traditional finance is a significant development. However, the exact timing and magnitude of the next crypto bull market remain uncertain.

  • Ripple Prime Nominated for Four Hedgeweek US Awards; XRP Market Activity Shows Investor Shifts

    Ripple Prime Nominated for Four Hedgeweek US Awards; XRP Market Activity Shows Investor Shifts

    Ripple Prime has received four nominations for the upcoming Hedgeweek US Awards, underscoring its position in the prime brokerage sector. In parallel, XRP has seen a price increase over the past week, alongside notable changes in investor behavior.

    Ripple Prime has been shortlisted in four categories: Prime Broker of the Year: Client Service, Prime Broker of the Year: Technology, Prime Broker of the Year: Specialist Markets, and Prime Broker of the Year: Start-up & Emerging Managers. The Hedgeweek US Awards ceremony is scheduled for October 8 in New York. Ripple Prime will compete with firms including Mirae Asset Securities and Interactive Brokers. Mike Higgins, CEO of Ripple Prime, acknowledged clients and partners for their trust and stated that voting for the award winners is open.

    Concurrently, XRP’s price has risen by approximately 3% over the last week, trading around $1.14. Data indicates that large holders, identified as ‘whales’ and ‘sharks’ holding between 100,000 and 100 million XRP, have increased their holdings by nearly 3% in the past five weeks. In contrast, smaller investors holding less than 0.01 XRP have reduced their positions. Analytics platform Santiment noted that this divergence in holdings has historically been associated with positive price movements for XRP.

    Institutional interest in XRP is also reflected in spot XRP Exchange-Traded Funds (ETFs). According to SoSoValue’s data, these ETFs have attracted millions of dollars in capital, with approximately $7 million in net inflows recorded in the past trading week. The first XRP ETF, offering 100% exposure to the asset, launched in November 2025. Since the inception of XRP investment vehicles, the cumulative total net inflow has reached nearly $1.5 billion.

    Analysts have provided commentary on XRP’s market trajectory. Ali Martinez identified $1.13 as a significant level, suggesting that a decisive move above this point could potentially lead to further upside, with a target of $1.30. Cryptollica commented that XRP has reached an all-time low oversold level, suggesting it may present an opportunity.

    It is important to differentiate between Ripple Prime’s reported award nominations and the interpreted signals from XRP’s market activity. While whale accumulation and ETF inflows are noted, future price movements for XRP are subject to market conditions and are not guaranteed. The outcome of the Hedgeweek US Awards voting is pending.

    Why This Matters

    The materials describe a narrow update: Ripple Prime has been nominated for four categories at the Hedgeweek US Awards. Whether Ripple Prime will win any of its nominated awards.

    Broader Context

    Source materials place the factual news in this context: An entity deeply affiliated with Ripple was shortlisted for several recognitions at one of the industry’s most respected hedge fund award ceremonies.

  • XRP Bullish Pattern Forms Amidst Large Wallet Accumulation

    XRP Bullish Pattern Forms Amidst Large Wallet Accumulation

    Large Holders Fuel XRP’s Rise Amid Shifting Demand Dynamics

    XRP has seen a brief surge above $1.16, with recent analysis from Santiment indicating that this upward momentum is primarily driven by accumulation from significant holders rather than widespread retail interest.

    The analytics firm’s findings reveal that wallets holding between 100,000 and 100 million XRP have increased their stakes by 2.8% over the past five weeks. In contrast, wallets with less than 0.01 XRP have reduced their holdings by 5.2%. Santiment noted that XRP’s price movements have historically correlated more closely with the behavior of these key stakeholders than with smaller retail wallets, suggesting this divergence supports the recent price recovery.

    This accumulation trend coincides with a strengthening market narrative for the cryptocurrency. Key factors include the resolution of Ripple’s legal challenges with the U.S. Securities and Exchange Commission (SEC) and continued activity on the XRP Ledger related to payments, tokenization, and the stablecoin RLUSD. Furthermore, U.S.-based spot XRP Exchange-Traded Products (ETPs) have attracted institutional interest, recording nearly $12.5 million in net inflows this month.

    Santiment added that historical patterns show periods of accumulation by substantial holders, coupled with declining participation from micro-wallets, often pave the way for further price appreciation.

    From a technical standpoint, XRP encountered resistance after testing its daily 50-day exponential moving average (EMA), a level that previously capped its rallies. The price has since retreated to approximately $1.13. Despite this pullback, the bullish outlook remains intact as long as XRP can maintain support within the $1.11-$1.09 zone, according to ChartNerd.

    Holding this support range could sustain momentum for a potential move towards $1.25. However, ChartNerd cautioned that a breach below this area would undermine the current technical setup and increase the probability of a decline back to the $1 mark. ChartNerd had previously refuted social media claims suggesting XRP had already broken out of a downtrend that began in July 2025.

    Analyst Ali Martinez echoed a similar sentiment, suggesting that a decisive move above $1.13 could confirm a bullish breakout for XRP and open the door to further gains.

    Conversely, some analysts maintain that XRP is still trading within a year-long descending pattern, and only a clear and swift break above the $1.20-$1.30 range would invalidate this bearish structure.

  • OpenPayd Recognized by CNBC Among World’s Top Fintech Companies 2026

    OpenPayd Recognized by CNBC Among World’s Top Fintech Companies 2026

    OpenPayd has been named one of CNBC’s World’s Top Fintech Companies 2026, specifically within the Enterprise Fintech category. This recognition is the result of a comprehensive assessment by CNBC and Statista, which analyzed over 3,500 companies and 25,000 data points to identify 500 leading fintech firms globally across eight segments.

    The Enterprise Fintech category, as described by CNBC, is a crucial component of modern financial services operations. It includes companies providing technology-driven solutions for financial institutions and businesses, such as embedded finance, Banking-as-a-Service, Open Banking, and finance process automation. OpenPayd’s inclusion underscores the increasing significance of the infrastructure that underpins contemporary financial services.

    OpenPayd’s platform enables businesses to manage and move money globally via a single API. Its services encompass embedded accounts, domestic and international payments, foreign exchange, Open Banking, and stablecoin infrastructure. According to available disclosures, OpenPayd processes over $280 billion in annualized payment volume and supports more than 1,200 businesses with their global money movement needs.

    Founded in 2018 by Dr. Ozan Ozerk, OpenPayd is recognized as a key financial infrastructure provider. The company is trusted by global brands including eToro, Kraken, OKX, and B2C2. This recognition by CNBC, alongside other prominent fintech entities, highlights OpenPayd’s role as an infrastructure provider for current financial services.

    The fintech industry is reportedly entering a more mature phase, where scale, profitability, and regulatory compliance are key determinants of success. Enterprise technology, artificial intelligence, and digital assets continue to reshape financial service delivery. OpenPayd’s focus on enabling interoperability between traditional finance and digital assets positions it within this evolving sector.

    As financial services become more interconnected across payment rails, currencies, and digital assets, OpenPayd aims to simplify complexity through its interoperable platform, allowing businesses to scale globally. The CNBC and Statista assessment, which covered 500 companies across eight fintech segments in over 50 countries and territories, emphasizes the global reach and impact of the recognized firms.

    Broader Context

    Source materials place the factual news in this context: PRESS RELEASE – London, United Kingdom, July 22nd, 2026.

  • Dogecoin Flashes Major Buy Signal, Poised for Surge

    Dogecoin Flashes Major Buy Signal, Poised for Surge

    Dogecoin Flashes Major Buy Signal Amid Bear Market Pessimism

    Dogecoin, the preeminent meme coin, has mirrored the struggles of many leading cryptocurrencies, experiencing a significant downturn over recent months. Its price has fallen 73% year-over-year. While the persistent bear market shows no immediate signs of abating, some analysts are pointing to key indicators that suggest Dogecoin could be poised for a rebound.

    Technical Indicators Signal Potential Upswing

    Despite Dogecoin’s current trading price of $0.07, as reported by CoinGecko, renowned analyst Ali Martinez has highlighted a series of consecutive buy signals on the weekly TD Sequential indicator. Martinez described this pattern as a “rare setup that could be warning a major bull rally is approaching.”

    Adding to the optimistic outlook, X user Cryptollica noted the recent “dead attention” surrounding the meme coin. They posited that investors seeking profit should consider entering the market when interest is at its lowest ebb.

    MVRV Ratio Suggests Cycle Bottom

    Further bolstering the case for a potential recovery, the Market Value to Realized Value (MVRV) ratio for Dogecoin has fallen below 1. This metric indicates that a majority of holders are currently experiencing unrealized losses, with the asset trading below its average cost basis. Historically, such low MVRV readings have often coincided with market cycle bottoms, suggesting that a shift in favor of bulls could be imminent.

    Analysts Project Significant Price Appreciation

    Analyst Javon Marks has also weighed in, suggesting that Dogecoin is on the cusp of a substantial rally, potentially mirroring its performance in previous years. Marks envisions a parabolic surge, projecting potential price targets of $0.653, $0.7, and even $1.25 in the coming years.

    In a more bullish forecast, trader Tardigrade identified what they believe to be a massive double bottom formation, a pattern that could trigger a significant price explosion, potentially reaching as high as $3.25.

    Counterarguments: Overbought Conditions and Lack of Institutional Interest

    However, several factors could temper this optimism and suggest a continued downward trajectory for Dogecoin’s valuation. The meme coin’s Relative Strength Index (RSI) has climbed above 70, indicating that it has entered overbought territory and may be due for a correction. Conversely, readings below 30 are typically viewed as potential buying opportunities.

    Another significant concern is the apparent lack of institutional support. Spot Dogecoin Exchange-Traded Funds (ETFs) have not garnered substantial interest from pension funds, hedge funds, and other conservative investors, which is detrimental to the asset’s valuation. A stronger demand for these products would necessitate issuers purchasing actual Dogecoin, thereby potentially driving up its price. Since their inception, spot Dogecoin ETFs have seen cumulative net inflows of only $11.77 million, a figure considerably lower than that attracted by, for example, spot XRP ETFs.

  • Franklin Templeton Exec: Agentic AI is Crypto’s Killer Use Case as ETH Nears $2K

    Franklin Templeton Exec: Agentic AI is Crypto’s Killer Use Case as ETH Nears $2K

    Franklin Templeton Executive Identifies Agentic AI as Crypto’s ‘Killer Use Case’ as Ether Nears $2,000

    John Gillen, former BlackRock VP and host of Milk Road Daily, revealed on Tuesday that the Head of Digital Assets and Innovation at a $2 trillion asset manager “just said to buy ETH.” This statement followed a detailed post on X by Franklin Templeton’s Sandy Kaul, which explored the potential applications of cryptocurrency in agentic AI payments.

    Investors typically purchase shares in AI-focused companies to capitalize on current growth opportunities. The U.S. stock market has experienced a significant surge, with the S&P 500 climbing 20% over the past year and reaching an all-time high in early June, largely propelled by technology and AI stocks.

    However, Gillen suggested that this conventional investment strategy might not be as effective for agentic AI.

    Agentic AI systems possess the capability to independently initiate, monitor, and complete transactions. Projections indicate that agentic commerce could reach between $3 trillion and $5 trillion by 2030.

    Existing payment infrastructures, characterized by high fees and slow transaction speeds, are ill-suited for micropayments. Furthermore, AI agents are unable to open bank accounts or access traditional financial services due to stringent Know Your Customer (KYC) requirements.

    Consequently, it is anticipated that AI agents will likely utilize decentralized blockchains for transactions. Ethereum and its layer-2 networks currently represent the industry standard, boasting the largest developer community and substantial institutional backing.

    “I believe what will become increasingly clear in coming years is that in order to capture the value of decentralized networks and businesses, investors will need to buy the cryptocurrencies and altcoins being issued by those entities,” Gillen stated. He added, “Such investments are likely to become key holdings in portfolios, especially for those looking to capture the emerging agentic AI opportunity.”

    In April, the International Monetary Fund (IMF) released a report forecasting that agentic AI will revolutionize payments, with standards already under development. The report noted, “A growing set of industry actors, including payment networks, technology platforms such as Ethereum, and AI model providers, are in a race to experiment with these capabilities.”

    Crypto commentator Leo Lanza remarked on Tuesday that while “everyone sees Ethereum as a tokenization bet,” “almost nobody sees it as an AI bet. But AI agents will need financial rails to hold assets, settle payments, and transact with each other.”

    Ethereum’s price reached a seven-week high of $1,945 on Tuesday and has largely maintained these gains in early trading on Wednesday. At the time of writing, the asset was trading at $1,930, marking a 27% increase since its cycle low on June 26 and approaching the significant psychological threshold of $2,000.