Cryptocurrency - Page 25 of 151

Toncoin Surges on UAE Residency Hype—Then Crashes After Official Denial

Toncoin Pumps on UAE Residency Rumor, Dumps After Denial

Toncoin (TON) saw a dramatic price swing on July 7 after a viral claim suggested that staking $100,000 worth of TON could secure long-term UAE residency. The rumor, spread by the TON Foundation, briefly sent TON soaring 10% to $3.05, igniting hype on Twitter and Telegram.

However, the rally quickly unraveled. UAE officials publicly denied the existence of any such residency-through-crypto-staking program, triggering a sharp 6% correction. Despite the fall, TON ended the day up 3.7%, closing at $2.83.

The real story may be in the trading volume, which exploded over 900%, topping $795 million for the day. On-chain data reveals that 68% of TON is held by whales, making it especially prone to large, fast moves.

Technically, TON found support at $2.78, near the 78.6% Fibonacci level, but remains unable to break the $3.00–$3.20 resistance zone — a ceiling it has tested and failed multiple times since May.

If bullish momentum builds, a breakout could target $3.60 or even $4.00, but without it, a slide back to $2.65 or $2.30 is possible.

This price whiplash shows the power of hype in crypto—and how fast fiction can spark millions in trading volume.

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Ripple’s RLUSD Stablecoin Enables 24/7 Cross-Margin Trading via Hidden Road

Ripple’s RLUSD Stablecoin Powers 24/7 Cross-Margin Trading at Hidden Road

Ripple has taken a major leap into institutional finance by integrating its stablecoin RLUSD with prime brokerage Hidden Road, enabling 24/7 cross-margin trading. RLUSD, backed by the U.S. dollar, will now serve as universal collateral across crypto, FX, equities, and commodities — a first in the industry.

This development comes shortly after Ripple’s $1.25 billion acquisition of Hidden Road. At a press event in Singapore, Ripple CEO Brad Garlinghouse highlighted RLUSD’s role in offering year-round capital efficiency with no downtime, simplifying risk management for global institutions.

In a strategic move, Hidden Road will also adopt the XRP Ledger for post-trade settlements. This upgrade will enhance transaction speed, reduce costs, and reinforce the broker’s $3 trillion annual trading infrastructure. The XRP Ledger’s scalability will also boost Hidden Road’s credit network that bridges traditional and digital markets.

As RLUSD remains regulated and institution-friendly, its adoption reflects growing demand for compliant stablecoins in professional trading environments.

The announcement comes just ahead of a pivotal U.S. Senate Banking Committee hearing on July 9, where Ripple’s CEO is expected to testify. The hearing may offer legal clarity on whether tokens like XRP are securities or commodities — potentially reshaping U.S. crypto regulation.

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Bybit Launches Crypto Platform in Georgia with Full Local License

Bybit Launches Fully Licensed Crypto Platform in Georgia

Bybit, a major global crypto exchange, has launched a new platform tailored for Georgian users — BybitGeorgia.ge. Marking a strategic expansion in Eastern Europe, the exchange becomes the first of its kind in Georgia with a full local license, enabling it to offer spot trading, OTC services, and asset conversion.

The platform plans to introduce fiat deposit and withdrawal options, alongside the Bybit Card, which will allow users to spend crypto in daily transactions. According to Tekla Iashagashvili, Georgia’s Country Manager, this move is part of its mission to support Georgia’s growing digital economy and bring crypto access to more users worldwide.

This launch follows its introduction of Bybit.eu, its MiCAR-compliant platform for the European Economic Area, and new offices across key EU nations including France, Germany, and Italy.

To celebrate its Georgian debut, it is running a Launch Campaign (July 7 – August 7) with a reward pool of 20,000 USDT. New users can earn up to 115 USDT through welcome bonuses, deposits, trading, and referrals.

As Georgia advances toward EU integration, its presence positions it as a key player in the country’s crypto ecosystem.

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Glassnode Analyst Warns Bitcoin Treasury Strategy May Be Losing Steam

The Bitcoin treasury playbook that once dazzled Wall Street may be showing signs of exhaustion. James Check, lead analyst at Glassnode, issued a cautionary statement suggesting the corporate Bitcoin treasury strategy might be nearing the end of its golden era.

In a recent post on X, Check said that early adopters like Michael Saylor’s Strategy, which now holds nearly 600,000 BTC, are uniquely positioned to benefit from the early-mover advantage. But newer firms jumping on the BTC bandwagon may struggle to stand out.

“Nobody wants the 50th Bitcoin treasury company,” Check warned, pointing out that the novelty has worn off and the market is entering a “show-me” phase where serious differentiation is required. He suggested that many latecomers may fail to sustain a stock premium above their Bitcoin holdings’ net asset value (NAV).

This view was echoed by Taproot Wizards’ Udi Wizardheimer, who slammed many new entrants as opportunists chasing short-term gains. Venture firm Breed also released a report warning that only a few treasury-driven firms are likely to survive long-term without falling into a dilution death spiral.

Even as Bitcoin nears all-time highs, the growing skepticism highlights that BTC balance sheets alone no longer impress investors—execution, transparency, and strategy matter more than ever.

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Ethereum Sees $148M ETF Inflows in a Day as Bitcoin Hyper Presale Nears $2M

Ethereum is quietly attracting massive institutional attention, even as its price struggles to reclaim the $2,600 level. U.S.-listed spot Ethereum ETFs just recorded a daily inflow of $148.57 million, the second-largest since February, with an 8-week cumulative total nearing $2 billion—a strong vote of confidence in ETH’s long-term value.

Public companies like SharpLink Gaming and BitMine are accumulating Ethereum as a treasury asset, while Robinhood’s launch of tokenised US stocks on Arbitrum brings real-world utility to Ethereum’s Layer 2 ecosystem.

Despite this bullish institutional backdrop, Ethereum’s technical setup remains mixed. A looming weekly death cross and over $56 million in long liquidations hint at downside risk. However, ETH is still trading within a rising channel, and holding support at $2,474 could open the door for a breakout above $2,855, targeting $3,500 or more.

Meanwhile, Bitcoin Hyper ($HYPER)—a Bitcoin-native Layer 2 powered by Solana’s SVM—has crossed $1.92 million in its public presale, with fast smart contracts, BTC bridging, and meme coin creation among its standout features. Backed by a full audit and real utility, $HYPER is emerging as a key Layer 2 player for 2025.

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Mercado Bitcoin to Tokenize $200M in Assets on XRP Ledger Amid $19T RWA Boom

In a significant step toward mainstream asset tokenization, Mercado Bitcoin, one of the largest crypto exchanges in Latin America, is set to tokenize $200 million worth of real-world assets (RWAs) using the XRP Ledger (XRPL). The initiative will include a mix of fixed-income and equity assets, transforming traditional instruments into blockchain-based tokens with improved accessibility and transparency.

Announced by Ripple on Friday, the integration is positioned as a major validation of public blockchain infrastructure for regulated financial products. Silvio Pegado, Managing Director of LATAM at Ripple, stated that Mercado Bitcoin’s move “demonstrates growing institutional trust in XRPL as a foundation for modern finance.”

This development aligns with broader market forecasts, including a Boston Consulting Group report predicting a $19 trillion RWA tokenization market by 2033. As the U.S. lags behind in regulatory clarity, global players like Ripple are seizing the opportunity to lead the RWA revolution.

Other recent moves in the space include Ondo Finance’s acquisition of Oasis Pro and Centrifuge’s plan to tokenize the S&P 500 index, highlighting a race to bring traditional assets on-chain.

Ripple’s collaboration with Mercado Bitcoin sends a clear message: the future of finance is decentralized, tokenized, and borderless.

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DeFi Development Corp. Soars 17% After $2.7M Solana Purchase Amid Treasury Expansion

DeFi Development Corp. (DFDV) saw its stock skyrocket 17% on Thursday after disclosing a $2.7 million purchase of Solana (SOL), bringing its total holdings to over 640,585 SOL, worth approximately $98 million. The company acquired 17,760 SOL at an average price of $153.10 as part of its aggressive crypto treasury strategy.

The bullish move fueled investor excitement, with DFDV stock closing at $23.80 and ticking up another 0.8% in after-hours. The two-day rally totals nearly 30% from Wednesday’s low of $18.47, although the stock is still trading 33% below its May high of $35.53. Year-to-date, the stock has exploded over 2,700%.

In a shareholder letter dated July 2, DeFi Development Corp. said it will stake the newly acquired SOL tokens and plans to hold long-term. The company also outlined a $112.5 million capital raise, with $75.6 million earmarked for a prepaid forward stock purchase and the remainder allocated to general corporate needs, including more Solana buys.

Despite reporting a 30% revenue decline and 15.5% drop in profit margin in its last earnings report, the firm is doubling down on Solana. It previously withdrew a proposed $1B SOL investment after regulatory complications, but continues to push forward with new strategies.

Sol Strategies Also Deepens Solana Exposure

Canadian digital asset firm Sol Strategies is following a similar path. With over 420,000 SOL already held, the company is positioning itself as a major institutional player in the Solana ecosystem. Sol Strategies recently filed to list on the Nasdaq Capital Market under the ticker “STKE” and locked in a $500 million convertible note facility to buy and stake more SOL.

The firm also filed a $1 billion shelf prospectus in Canada and plans to maintain governance flexibility by operating as a foreign private issuer. Both companies see Solana’s role in asset tokenization and blockchain infrastructure as pivotal for future growth.

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Solo Bitcoin Miner with 2.3 PH/s Scores $349K Block Reward Against 1 in 375K Odds

Tiny Bitcoin Miner Hits Jackpot: Solves $349K Block Solo with 2.3 PH/s

In a stunning twist of blockchain luck, a solo Bitcoin miner operating with just 2.3 petahash per second (PH/s) of hash power has mined a full block—earning close to $350,000 in rewards. The block, numbered 903,883, was confirmed on July 3 through CKpool’s solo mining service.

Statistically, the odds of finding a block at that level of hash rate are about 1 in 375,000, making this an extraordinary win. According to CKpool developer Con Kolivas, such a miner typically lands one block every 8 years, or has a 1 in 2,800 chance each day.

The reward, totaling 3.173 BTC, was confirmed on Mempool.space, combining both the standard block subsidy and accumulated transaction fees.

While most miners rely on large-scale pools to earn small but steady rewards, solo miners like this take a riskier route for the full bounty. Despite the odds, this is the third such solo success in 2025—proving that even low-powered setups can hit big.

Bitcoin researcher Pete Rizzo commented on the miner’s remarkable win, calling it a case of “beating incredible odds.” It’s believed that the setup used older ASIC miners to reach the modest hash rate.

In a market dominated by massive mining operations, rare solo victories like these continue to inspire individuals willing to gamble on luck—and sometimes win big.

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Tether Mints $1B USDT on Ethereum as Stablecoin Circulation Hits $150B

Tether, the leading stablecoin issuer, has minted another 1 billion USDT on the Ethereum network as of July 4, increasing the network’s authorized supply to nearly $75 billion. This move pushes Tether’s total circulation to an all-time high of $150 billion, firmly securing its dominance with 61% of the dollar-backed stablecoin market.

While such massive issuances often raise eyebrows, the newly created tokens remain in Tether’s treasury and are not in active circulation. These mints serve as a liquidity buffer, ensuring the company can fulfill issuance requests or perform blockchain swaps on demand.

The mint was flagged by Whale Alert and labeled as a treasury issuance. Tron still slightly leads Ethereum with an $80 billion authorized USDT supply, but the gap is narrowing. Meanwhile, Solana and Avalanche lag with significantly smaller amounts.

Tether continues to defend these operations as standard practice. “It’s like stocking shelves before customers arrive,” the company emphasized, ensuring markets remain liquid going into H2 2025.

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Swiss AMINA Bank Becomes First to Support Ripple USD (RLUSD) Custody and Trading

In a groundbreaking development for the Ripple ecosystem, Swiss-regulated AMINA Bank has officially become the first bank to offer custody and trading of Ripple USD (RLUSD). The announcement, made on July 3, marks a major step toward institutional adoption of RLUSD as a trusted, compliant stablecoin.

AMINA Bank, regulated by Switzerland’s FINMA, confirmed that its initial offering will include RLUSD custody and trading services for existing clients, with broader access to roll out in the coming months. The bank’s Chief Product Officer, Myles Harrison, emphasized their commitment to integrating secure, next-gen financial products.

“We are proud to be the first bank to support RLUSD and to provide our clients with access to one of the most anticipated digital assets in the market,” said Harrison.

The move comes at a pivotal moment for Ripple, which continues to push toward financial legitimacy and global expansion. RLUSD, which already has a market cap exceeding $440 million, is designed to offer enterprise-grade compliance, clarity, and control. AMINA’s support enables institutions, corporations, and individual investors to access Ripple’s stablecoin directly via mobile and desktop platforms with built-in security.

In tandem with this announcement, Ripple CEO Brad Garlinghouse revealed the company has applied for a national banking license in the U.S., alongside Standard Custody’s Federal Reserve master account application. This reflects Ripple’s deepening involvement in the traditional financial system.

Ripple also partnered with OpenPayd to provide enterprise-grade payment infrastructure and enable minting and burning of RLUSD, streamlining real-time settlements.

XRP Price Surges on the News

XRP responded positively to the development, climbing 4% in the past 24 hours to trade at $2.28. Volume surged by 38%, reflecting strong trader interest. According to Coinglass, XRP futures open interest jumped over 8% to $4.63 billion, signaling continued bullish momentum as the price aims for the $3 mark.

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