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Anthropic, OpenAI Pursue IPOs as Enterprise AI Spending Faces Pushback

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • OpenAI’s 2025 net loss hit $38.5 billion despite revenue tripling to $13.07 billion overall.
  • Uber, Amazon and JPMorgan now restrict employee AI usage after costs spiraled unexpectedly.
  • Anthropic and OpenAI filed confidentially for IPOs, both targeting valuations near $850 billion.
  • Chinese models DeepSeek and Kimi undercut Anthropic and OpenAI pricing in benchmark cost tests.

Anthropic and OpenAI are pushing toward public markets while facing mounting questions about AI spending sustainability.

OpenAI posted a $38.5 billion net loss in 2025, even as revenue tripled to $13.07 billion. Rising pay-per-token costs have prompted major employers to limit staff usage, raising doubts about near-term profitability for both companies.

Enterprise Costs Spark Internal Crackdowns

Several large corporations have begun restricting employee access to AI tools after expenses climbed sharply. Uber reportedly exhausted its 2026 AI budget by April and now caps spending at $1,500 per employee monthly.

Amazon told staff to avoid using AI tools without clear purpose, following reports that engineers ran automated agents to climb internal usage leaderboards.

JPMorgan circulated an internal memo this month addressing excessive AI spending across departments. Some employees reportedly generated AI bills exceeding their own monthly salaries.

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These examples reflect a broader pattern among companies that adopted AI tools aggressively over the past two years.

One pricing shift illustrates the scale of the problem. Workato saw its Anthropic bill increase 700% in a single day after the company moved from flat-rate to pay-per-token pricing in May.

Workato’s chief information officer said earlier subsidized pricing had encouraged widespread adoption before actual costs became visible.

IPO Timing Collides With Spending Concerns

Anthropic and OpenAI filed confidentially for public offerings this month, both reportedly targeting valuations near $850 billion.

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Neither company has reached profitability, and OpenAI’s losses nearly tripled year over year. In 2024, the company lost $5.09 billion, a figure that grew to $38.5 billion in 2025.

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This timing creates friction for both firms as they court investor confidence. Public offerings typically require evidence of sustainable revenue growth, yet enterprise clients are simultaneously scaling back usage. The same trend driving corporate cost-cutting threatens the growth narrative needed for successful IPO valuations.

OpenAI is reportedly considering token price reductions to retain customers shifting toward Anthropic’s offerings. According to the Wall Street Journal, Anthropic’s Claude Code product helped push annualized revenue from $9 billion to $47 billion within five months. That growth has intensified competitive pressure between the two firms.

Competitive Pricing Pressure Intensifies From Chinese Models

Artificial Analysis tested major AI models on identical benchmark tasks, comparing total operational costs. Anthropic’s flagship model cost $4,811 to complete the test suite, while OpenAI’s model cost $3,357 for the same workload.

Chinese alternatives showed substantially lower costs in the same testing. DeepSeek completed the benchmark for $1,071, while Kimi finished for $948.

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These figures suggest Chinese developers prioritize cost efficiency over matching premium-tier performance metrics.

Bain surveyed nearly 1,000 companies regarding AI return on investment, finding that 40% reported actual cost savings below 10%.

One investor told Axios that a corporate finance officer spent $500 million on Claude access in a single month before anyone noticed.

As Anthropic and OpenAI prepare investor pitches, enterprise customers are demonstrating measurable resistance to current pricing structures.

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Sam Altman ChatGPT AI Predicts Stunning Bitcoin Price By End Of 2026

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Sam Altman ChatGPT AI Predicts Stunning Bitcoin Price By End Of 2026

There is one word in this prediction that carries more weight than any of the Bitcoin price predictions for November. ChatGPT AI is not hedging on timing the way a lot of these predict do.

It names a specific month as the most likely window for a sustained bull market resurgence, and everything else in the prediction is built to support that single calendar bet.

When an AI commits to a date rather than just a price, the entire thesis becomes easier to grade later, which makes this one of the more accountable calls in the series.

Source: ChatGPT AI Bitcoin Price Prediction

At $62,640, ChatGPT’s base case has the next major bull phase beginning around November 2026, driven by improving liquidity conditions, growing institutional adoption, potential passage of U.S. crypto market structure legislation such as the CLARITY Act, continued support from the Trump administration for digital assets, and easing geopolitical tensions following the Iran conflict.

That is five distinct tailwinds converging on roughly the same window, and if even most of them land together, the base target sits at $120,000 to $180,000 by year’s end, with an upside scenario stretching to $200,000 if ETF inflows accelerate and risk appetite returns in force.

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From current levels, that base case alone represents nearly a 2x to almost 3x move.

Bitcoin (BTC)
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The bear case is where this prediction earns some credibility by being specific rather than vague. Regulatory delays, persistent inflation, tighter monetary policy, or weaker-than-expected institutional demand could keep Bitcoin range-bound, limiting upside to the $70,000 to $90,000 area.

That is not a doomsday scenario; it is a stall scenario, and the distinction matters because it means even in the bear case, ChatGPT still expects the price to be above where it sits today. The overall framing leans firmly toward risk-reward skewed higher.

Bitcoin Price Prediction: The Calendar Bet The Chart Has To Earn

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Bitcoin price is at $62,568 today, and the daily chart shows price sitting almost exactly where it has traded multiple times before across this entire cycle, a level that keeps getting revisited rather than decisively broken in either direction.

From the $128,000 peak last October, the decline has been steep, but what stands out on this chart is the repeating rhythm, sharp drops followed by multi-month recoveries that each stall out before reaching the previous high.

The June low near $60,000 is the third meaningful test of that general zone since the correction began, and each prior test has produced a bounce rather than a breakdown.

For ChatGPT’s November thesis to have any technical credibility, the chart needs months of quiet base-building between now and then, exactly the kind of consolidation pattern that has actually been forming since February.

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The $60,000 to $70,000 range has effectively become the holding zone for this entire correction, and the longer price stays contained within it without making a new low, the more that range starts to look like accumulation rather than distribution.

The first real test above is $72,000, the level that has capped every recovery attempt since the May rejection, and reclaiming it would be the earliest technical signal that the chart is starting to lean into the bull phase the prediction is calling for.

The RSI sits at 34.11 with the signal line at 32.45, a gap of less than 2 points, among the flattest readings seen anywhere in this prediction series. Momentum is neither building decisively nor collapsing further, it is essentially asleep, hovering in the same depressed zone it has occupied through most of this multi-month range.

That flatness is oddly consistent with a November target. A genuine bull phase igniting months from now does not require momentum to already be screaming higher today, it requires exactly this kind of quiet, sideways grind first, the calm before whichever catalyst from ChatGPT’s list actually shows up to break the range.

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LiquidChain Is Catching the Attention of Bitcoin holders: ChatGPT AI Predicts It’s the Next 100x

The rotation is already happening. Most people will only see it in hindsight.

Large-cap crypto is not failing. It is capped. Bitcoin, Ethereum, and XRP have been pressing against the same resistance bands for weeks. The macro tailwinds keep getting delayed.

The institutional inflows keep getting pushed to next quarter. Holding assets where the upside depends on catalysts you cannot control is not a strategy. It is waiting.

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A capital that has navigated enough cycles does not wait at resistance. It moves before the destination becomes obvious.

Early-stage infrastructure plays operate on different math entirely. A small enough market cap means a modest rotation produces dramatic price movement. The asymmetry exists because the market has not priced in what is being built yet. That gap between current valuation and what the project is actually worth is where the returns come from.

Multi-chain fragmentation costs DeFi real money every single day. Bitcoin, Ethereum, and Solana run completely isolated liquidity systems with no native way to connect them. Every user moving value between ecosystems absorbs that cost directly in fees, slippage, and failed transactions.

LiquidChain collapses all 3 networks into a single execution layer. One deployment. Full ecosystem access. No cross-chain tax on every interaction.

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The market has not found this yet. That is the entire point.

The presale is at $0.01454 with just over $820,000 raised. Ground floor is not a marketing phrase here. It is a description of where this actually sits in its lifecycle.

Execution is unproven. Adoption is unknown. Those risks are real and worth naming directly. Established assets offer a smoother ride toward a ceiling that is already visible. This offers an earlier seat at a table that has not been set yet.

Explore the LiquidChain Presale

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The Revenue Divergence: Why Record-Breaking Ethereum Activity Isn’t Boosting ETH Price

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Ethereum’s layer-1 network set all-time highs across every usage metric in Q1 2026, with monthly active users climbing 53.5% quarter-over-quarter to 13.2 million and transaction count reaching 200.4 million, even as ETH’s market cap dropped 30% and fees on the base layer fell nearly 50%.

But according to Token Terminal’s Q1 2026 Ethereum Report, the divergence between the rising activity and falling revenue is the whole point.

Ethereum Usage Hits Record Despite Falling Fees and Valuation

The report, published on June 17, showed the numbers splitting cleanly along two lines. On the usage side, everything went up, including active monthly users, which rose 85.9% year-over-year; transactions, which increased 81.5% YoY to just over 200 million; and throughput, which hit 25.78 transactions per second, an 81.7% jump YoY.

However, on the dollar side, things weren’t so glossy. Ecosystem total value locked averaged $316.2 billion, down 11% from Q4 2025 but still up nearly 23% year-over-year. Meanwhile, base layer transaction fees came in at $39.9 million, an almost 48% fall from the previous quarter and 81.9% below where they were a year ago.

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Per Token Terminal, the fee compression had a direct cause, namely the Fusaka upgrade cycle’s second Blob Parameters Only fork (BPO #2) in January, which raised Ethereum’s data capacity and made blockspace cheaper. As a result, the transaction count went up 38% while total fees dropped by almost half in the same period.

Etherealize, the group that’s working to push Ethereum’s capabilities to traditional finance and a contributor to the report, framed it this way:

“Ethereum is deliberately scaling the network at the expense of near-term fee capture, betting that cheaper blockspace unlocks far more demand (and eventually network revenue) in the long run.”

They are looking ahead to the Glamsterdam upgrade, which is targeting a more than 3x increase in the gas limit in Q3 2026, with Ethereum’s roadmap ultimately guiding toward 10,000 TPS and near-instant finality by 2029.

On Ethereum’s structural position in tokenized assets, the report noted that it had stayed largely intact through the quarter, with the total tokenized asset market cap averaging $203.4 billion, just 0.7% lower than the quarter before. However, it was up 42.9% year-over-year, with stablecoins leading at $178.9 billion, of which Tether’s USDT ($94.1 billion) and Circle’s USDC ($54.5 billion) accounted for the bulk.

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Tokenized assets turned out to be the fastest-growing segment, increasing 60% QoQ and 325.9% YoY to $4.7 billion, most of which were represented by tokenized gold, that is, Tether Gold and PAX Gold. Tokenized funds also experienced similar growth rates, rising 5% to 19.4 billion within the period under discussion. Regulated institutional products from BlackRock’s BUIDL, WisdomTree, and Superstate were among the larger holdings, alongside yield-bearing on-chain dollar products from Sky and Ethena.

And out of the top 5 blockchain networks, Ethereum had a share of 71% of the total TVL, worth $316.2 billion, against the $129 billion on Tron, Solana, BNB Chain, and Plasma collectively. It also holds more than 79% of active DeFi loans, nearly 62% of stablecoins, and 73% of tokenized funds, as well as 84% of tokenized commodities.

However, DEX trading volume was the one area where Ethereum did not lead, with BNB Chain processing $162.5 billion against its $134.5 billion, as Solana came third after pulling in $104.9 billion.

ETH Price Under Pressure

Interestingly, none of the activity described above translated into price strength for Ethereum’s native token. For one, the coin’s fully diluted market cap averaged $290 billion in Q1 2026, which was a 30.3% dip QoQ and almost 10% across one year.

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At the time of writing, it was sniffing around the $1,700 level after briefly hitting a 14-month low near $1,500 earlier in June before recovering somewhat on news of a peace deal between the United States and Iran.

Analyst sentiment regarding it is divided, with some like Daan Crypto Trades noting that ETH is on track for its second-worst first half of the year since 2022 after a 29% plunge in Q1 and another 21% decline so far in Q2. That puts it on course for three double-digit quarterly losses in a row.

The post The Revenue Divergence: Why Record-Breaking Ethereum Activity Isn’t Boosting ETH Price appeared first on CryptoPotato.

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Why Grayscale Thinks AAVE Has a Path to $175 Despite Trading Near 60% Away

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AAVE’s fair value could climb to around $175 within the next year if clearer regulations accelerate the adoption of tokenized real-world assets (RWAs), according to a new report from Grayscale Research.

The firm estimates AAVE’s current fair value at between $80 and $100, while the token is currently trading near $73.

Massive Upside for AAVE

Grayscale stated that Aave’s position as the leading decentralized lending protocol, in addition to growing stablecoin usage and the tokenization of traditional financial assets, creates a favorable setup for future growth. Aave operates similarly to a digital lending platform, which allows users to deposit crypto assets, earn yield, and borrow against collateral through smart contracts rather than traditional intermediaries.

As of the report, the broader DeFi ecosystem holds more than $59 billion in deposits and $25 billion in outstanding loans. Aave controls a significant share of that activity. The protocol serves nearly 200,000 monthly users and generates revenue primarily through lending spreads, treasury earnings, and income from GHO, its native overcollateralized stablecoin.

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Aave’s financial performance has strengthened considerably in recent years, Grayscale said. Between 2023 and 2025, the protocol’s revenue increased more than sixfold, while profitability stayed strong at about 50%. The report added that Aave’s DAO treasury has at times held more than $360 million, providing a sizeable pool of capital that can be used for expansion plans and other community-approved initiatives.

An important part of Grayscale’s bullish outlook focuses on Aave’s institutional expansion plans, particularly Horizon, a dedicated market that would allow institutions to use tokenized real-world assets as collateral for accessing DeFi liquidity. The firm believes that regulatory clarity around digital assets and tokenized securities could significantly boost adoption of these products, driving loan growth and increasing protocol revenues.

Additional catalysts include the continued expansion of GHO, the rollout of the Umbrella safety module, the upcoming V4 protocol architecture, and the launch of a simplified Aave App that aims to attract mainstream users. Grayscale’s valuation framework indicates that Aave’s current market price implies relatively modest long-term earnings growth despite strong sector tailwinds. Uncertainty around regulations remains one of the main reasons AAVE trades at a discount compared with fintech firms that have similar lending and revenue-generating characteristics.

UK FCA Approval

Last month, Aave Labs announced that its UK-based subsidiaries, Push Labs Ltd. and Push Virtual Assets Ltd., received registration from the UK Financial Conduct Authority (FCA) to operate as crypto asset exchange providers. The approval also allows the companies to issue electronic money under the UK’s Electronic Money Regulations 2011.

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According to the company, the registrations pave the way for regulated crypto services and payments infrastructure, including stablecoin on- and off-ramp solutions. Founder Stani Kulechov said the approvals will allow users to move traditional fiat currency directly into the Aave ecosystem through a zero-fee on-ramp. He added that the FCA approvals form part of Aave’s wider regulatory push across Europe, which includes a MiCA license in Ireland.

The post Why Grayscale Thinks AAVE Has a Path to $175 Despite Trading Near 60% Away appeared first on CryptoPotato.

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Main Street msUSD Stablecoin Loses Dollar Peg and Crashes 90%

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Main Street USD (MSUSD) Price Performance

Main Street USD (msUSD) lost its dollar peg on Saturday after verification provider Accountable ended its agreement with the protocol, erasing most of the token’s value within hours.

The token had traded close to $1 for months. It now changes hands near $0.29, down roughly 71% over 24 hours, with its market value near $30.5 million.

Main Street USD (MSUSD) Price Performance
Main Street USD (MSUSD) Price Performance. Source: Coingecko

Accountable Ends the Deal That Backed msUSD

Accountable runs real-time proof-of-reserves checks that let firms verify holdings without exposing sensitive data.

Accountable says its network has verified over $1 billion in client assets, including those of Galaxy and Amber Group. It is backed by Pantera Capital.

Main Street promoted itself as Accountable-verified and ran a public dashboard, powered by the firm, that tracked msUSD collateral.

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On Saturday, Accountable said Main Street could not meet its standards and immediately cut off the relationship.

“Accountable has terminated its service agreement with MainStreet, effective immediately. MainStreet was unable to meet our verification standards… We will continue to hold this standard without exception,” they wrote in a post.

Follow us on X to get the latest news as it happens

With the feed switched off, the Accountable-powered dashboard no longer verifies any reserves behind msUSD.

A Yield Model That Leaned on Outside Parties

Main Street marketed msUSD as a dollar token always redeemable one-to-one for USDC. Staking it minted msY, a strategy token earning yield from options box spreads, a hedge-fund tactic pitched as institutional-grade.

That design leaned on the verification feed and on integrations with larger venues. Main Street had promoted an msY market on Morpho lending markets, one of the largest decentralized lenders, holding billions in deposits.

The token also runs on an upgradeable proxy contract. Security scanner GoPlus warns its owner can disable sells, mint new tokens, or change fees.

Analysts had questioned the yield-bearing stablecoin risks behind such products before the collapse. The case adds to another stablecoin depeg this year, after a token lost its peg when its backing came into doubt.

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The case shows how fast confidence drains when one outside verifier steps away. A protocol built on a single feed inherits that partner’s decisions.

Main Street has not issued a public statement. In tandem, msY, the primary yield token issued by Main Street Finance, has also plummeted.

msY represents yield from the Main Street Finance protocol’s delta-neutral options strategies. The crash triggered extreme illiquidity (100% utilization, 138% borrow rates) on Morpho’s msY/USDC market, where an AlphaUSDC vault holds approximately $18 million exposure.

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The depeg erased more than half the token’s market value in a day. msUSD price action and any rebound now hinge on whether the protocol can prove its backing.

The post Main Street msUSD Stablecoin Loses Dollar Peg and Crashes 90% appeared first on BeInCrypto.

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Bitcoin’s Altcoin Rotation Fades, Fueling Questions on Altseasons

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Crypto Breaking News

For many traders, the “altseason” playbook has relied on a familiar pattern: profits from Bitcoin flow into smaller tokens, sparking broad-based rallies across the market. But new on-chain and market-structure indicators suggest that mechanism is weakening—and that could meaningfully change how altcoins move in the next phase of the cycle.

CryptoQuant CEO Ki Young Ju says the Bitcoin-to-altcoin rotation trade has “basically disappeared,” citing data that shows BTC-pair altcoin trading activity has fallen to its weakest levels since 2021. At the same time, the altcoin market appears more concentrated, with fewer large-cap tokens commanding most of the sector’s value—another factor that may reduce the breadth of any future rally.

Key takeaways

  • CryptoQuant data cited by Ki Young Ju shows BTC-pair altcoin trading volume has dropped to post-2021 lows, weakening the usual rotation from Bitcoin into altcoins.
  • Altcoin liquidity and capital are increasingly concentrated in fewer projects, which can delay or limit broad “altseason” style moves.
  • Bitcoin dominance is showing early signs of a rebound that could keep capital favoring BTC over smaller tokens in the near term.
  • The next phase of altcoin strength may depend less on “narrative-only” momentum and more on tokens tied to real usage and revenue themes.

Why the classic rotation trade is fading

Ki Young Ju, CEO of CryptoQuant, argues that the traditional “Bitcoin pumps, then alts catch up” sequence is no longer behaving the way it did during prior bull cycles. In a Saturday post on X, he said the Bitcoin-to-altcoin rotation trend has “basically disappeared,” pointing to CryptoQuant data that tracks aggregated altcoin trading volume for BTC-priced pairs.

That metric focuses on mid- and lower-cap altcoins traded against Bitcoin on centralized exchanges, explicitly excluding major assets such as Ether (ETH), XRP, BNB, and Solana (SOL). In other words, it attempts to measure whether traders are using BTC as the funding source for speculative positions in smaller coins.

Historically, that type of flow intensified during two key periods—2017 and again in 2021—helping set the conditions for some of the most aggressive alt rallies. But the chart Young Ju referenced suggests BTC-pair altcoin activity remains near post-2021 lows, implying that Bitcoin is no longer serving as the primary liquidity engine for broad alt speculation.

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“The era of alts pumping just because BTC pumps may be over,” Young Ju wrote, framing the slowdown in rotation as a potential structural shift rather than a short-term pause.

More money, fewer tokens

Beyond rotation, the composition of the altcoin market also appears to have changed. Young Ju pointed to increasing concentration across the non-BTC, non-stablecoin segment. Using figures reported for Saturday, the non-BTC, non-stablecoin market value was roughly $600 billion, while the top 10 non-stablecoin altcoins accounted for about $483 billion—around 80.5% of the total.

That implies that instead of value spreading across a wide range of assets, the market’s center of gravity is moving toward a smaller set of larger names. When capital is clustered, rallies often become less uniform, with fewer tokens capturing most of the upside.

The narrowing of large-cap altcoins has also been highlighted by CoinMarketCap snapshots. According to a 2021 historical snapshot referenced in the source, there were roughly 106 altcoins above $1 billion in market valuation at that time. By June 2026, that number had fallen to around 50, suggesting that the pool of sufficiently large assets to dominate flows has shrunk materially.

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Young Ju connects those trends to a broader maturity in the market. He also said in a separate thread that “narrative-only altcoins” are losing relevance as crypto develops, arguing that hype alone is no longer enough to sustain sustained attention across the board.

While that doesn’t mean the altcoin market is disappearing, it suggests a different kind of cycle—one where fewer projects benefit from most of the capital and where investor demand may be driven by more concrete fundamentals.

What themes could matter more than broad alt hype

Young Ju’s argument is not simply that altcoins are weaker; it’s that the strongest pockets of the market may be linked to areas with clearer business models and real-world utility. In his view, stronger activity is tied to revenue-generating decentralized finance, stablecoins, tokenized real-world assets, and AI agent-related applications.

That framing matters for traders because it changes the selection problem. If rotation into the entire alt market is less reliable, performance may hinge on identifying which tokens have genuine demand drivers rather than relying on “market beta” from broad speculation.

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It also implies that the next alt cycle—if it arrives—may look different from the older playbook. Instead of a sweeping move across many names, the cycle could be characterized by narrower leadership tied to specific sectors where usage and adoption can compound.

Bitcoin dominance could be a near-term headwind

Another factor potentially limiting altcoin momentum is a rebound in Bitcoin’s share of the overall crypto market. The source cites Bitcoin dominance (BTC.D) showing early signs of a lift after interacting with its 100-week exponential moving average (100-week EMA) and the lower trend line of an ascending channel at around the 58.75% level, according to a weekly chart on TradingView.

In the same setup, BTC.D could rise toward the channel’s upper trend line near 60% if momentum continues. If BTC.D moves higher toward that level, the implication is straightforward: Bitcoin would be gaining market share relative to the rest of crypto, which can divert speculative liquidity away from smaller assets.

Analyst Rekt Capital shared a similar perspective on X, citing bullish divergence on Bitcoin dominance. The divergence described in the source follows a common technical interpretation: BTC.D making lower lows while the RSI makes higher lows, often signaling weakening downside pressure and the potential for a rebound—hence the view that “altseason is postponed.”

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Rekt Capital, however, also warned that the upside may not be unlimited. He suggested the dominance rebound could represent a post-breakdown relief move before further weakness returns, with a bearish case pointing to BTC.D possibly drifting toward its 200-week EMA at around 57%.

For alt traders, the practical takeaway is that even if smaller coins find their footing, a strengthening BTC dominance trend can cap how broad and how fast alt rallies spread—particularly in the early stages of any rotation attempt.

As rotation signals remain weak and market leadership looks increasingly concentrated, investors may want to watch two things closely: whether BTC-pair altcoin volume starts to recover from its post-2021 lows, and whether BTC dominance sustains its rebound or rolls over again. The answers to those questions will likely determine whether any alt rally becomes broad-based—or stays confined to a narrower group of assets with more durable demand.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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CZ Floats Freezing Satoshi’s Bitcoin Over Quantum Risk

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Bitcoin Price Performance

Binance founder Changpeng Zhao (CZ) floated freezing Satoshi’s Bitcoin and other dormant, quantum-vulnerable coins if they stay unmoved after a future network upgrade. He raised it as a question for the community, not a personal plan.

The Binance executive shared the idea on the Galaxy Brains podcast with Galaxy Research head Alex Thorn. He has since pushed back on reports that he would personally freeze Satoshi Nakamoto’s address for a year.

Is Freezing Satoshi’s Bitcoin a Good Idea?

The debate grew louder in March, when Google Quantum AI published research on breaking the cryptography that secures digital signatures.

Its team estimated an attack could need fewer than 500,000 qubits and run in minutes, well below earlier projections.

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The risk sits in exposed keys. A quantum computer could derive private keys from public keys, then drain the wallets they protect.

The fix is to adopt quantum-resistant cryptography, yet coordinating that across the network takes years.

More than a third of all Bitcoin had revealed a public key on-chain by March. That leaves them in addresses vulnerable to quantum theft.

Satoshi Nakamoto mined an estimated 1.1 million BTC in 2009 and 2010. That estimate rests on the Patoshi pattern traced by researcher Sergio Demian Lerner.

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Bitcoin Price Performance
Bitcoin Price Performance. Source: BeInCrypto

At Bitcoin’s current market price near $63,244, that hoard is worth roughly $70 billion.

What CZ Actually Said

Zhao did not call for a seizure, nor did he say Binance would act. He put the decision to the community, asking why it should not set a roughly 1-year timeline.

Coins left in vulnerable addresses after that point would be locked in by a fork.

CZ said the popular take that he would personally freeze Satoshi’s address was not quite right. He also flagged a snag, that telling Satoshi’s wallets apart from other early miners is hard.

Zhao has urged calm on quantum risk before.

His thinking aligns with BIP-361, a draft by Jameson Lopp and five other researchers. It would block sends to vulnerable addresses about three years after activation, then void legacy signatures two years later.

The authors frame a blunt choice. A quantum thief could grab the exposed coins, or miners could slowly recover them. The network could instead lock them so no one wins.

That proposal even cites Bitcoin’s creator on the issue of lost coins.

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“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone,” Satoshi Nakamoto, as quoted in the proposal.

The dormant coins are contested on another front. An anonymous plaintiff and two Wyoming LLCs are fighting a New York abandoned-property lawsuit.

They want 39,069 idle addresses, including the Satoshi coins, declared theirs. A Galaxy report by Thorn doubts it will prevail.

Any forced lock still violates a core Bitcoin rule: no one can take another person’s coins. Many would read it as confiscation.

CZ said there is no perfect answer. He warned that doing nothing could prove the worst outcome of all.

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Solana Adoption Is Rising as Institutions Get Serious About Blockchain Integration

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Crypto Breaking News

Adoption of Solana increases as institutional investment in blockchain infrastructure goes beyond merely investing in crypto products to actual integration.

The Institutional Engagement Has Gone Beyond Investment Exposure

There has been growing traction of Solana as financial institutions turn their attention toward blockchain technology and infrastructure rather than investing in digital assets. The emergence of credit assessments in relation to blockchain technology, along with interest from established financial entities such as Moody’s, points to a gradual shift in perception about decentralized blockchain technology from traditional financial institutions.

For decades, public blockchains have been associated with speculation and diversifying investments. The focus of traditional financial institutions centered on the risk factors and regulatory issues associated with blockchain technology. This shift indicates that institutions are recognizing the usefulness of blockchain in practice.

Traditionally, credit ratings have been used to assess companies, bonds, and sovereign debts. The increased use of these terms in blockchain contexts demonstrates that institutions are starting to assess decentralized blockchain technology using conventional financial risk management models. It shows more engagement than exposure to crypto-assets alone.

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Rather than just asking whether digital assets can be invested in, institutions are now looking at whether blockchain technologies can sustain key operations of financial institutions.

Advantages of Solana in the Blockchain Infrastructure Arena

Among prominent blockchain projects, Solana is one of the top candidates expected to be adopted by financial institutions. Its main advantages include high transaction capacity, low costs, and rapid finality, making it well suited for applications that need scalable infrastructure.

Over the past several years, the Solana network has developed in DeFi, gaming, NFTs, and, finally, in tokenizing real-world assets. These processes have turned Solana from an instrument of investment into a working layer of the digital economy.

Institutional adoption of Solana does not relate to custody services and trading anymore. At the moment, some financial companies are considering integrating blockchain infrastructure into their business processes. This means building a payment network, issuing platform, and settlement infrastructure on the blockchain level. All these processes require careful planning, significant industry knowledge, and compliance with regulations.

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Market Dynamics Illustrate Resilience of Networks Over Time

The history of Solana’s performance on the market has been characterized by cycles of rapid growth followed by a decline typical of other players in the cryptocurrency industry. When conditions were bullish, the price of SOL previously soared above $200, while total market capitalization reached dozens of billions of dollars due to an increased influx of funds.

As expected for any other digital asset, Solana’s valuation dropped during the bearish period due to reduced risk appetite and lower liquidity in the industry. Nevertheless, the network continued developing actively despite this period.

During subsequent recovery phases, Solana’s valuations grew rapidly, with market capitalization soaring above previously observed levels to exceed $100 billion. While the latest correction has negatively impacted this momentum, valuations are still much higher than during the bearish period. This illustrates changing investor perception of Solana, shifting from short-term prospects to long-term perspectives.

The Part Solana Will Play in the Future of Blockchain Infrastructure

The increasing use of Solana signals a shift happening across the blockchain industry. As organizations transition from exploration to real incorporation, networks that can provide reliable and efficient infrastructure are becoming more prominent. Regardless of market turbulence, Solana is establishing its position in this new environment.

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Bitcoin Rotations Into Altcoin Market is Collapsing: Is Altseason Postponed?

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Bitcoin Rotations Into Altcoin Market is Collapsing: Is Altseason Postponed?

Cryptocurrency traders are no longer using Bitcoin (BTC) profits to buy altcoins as they did in previous bull cycles, raising doubts about whether a broad “altseason” can return.

Key takeaways:

  • Bitcoin-to-altcoin rotation trend has collapsed to its weakest level since 2021.
  • Altcoin capital is increasingly getting concentrated in fewer projects, delaying the altseason.

Bitcoin-to-altcoin rotation trend has “basically disappeared”

The old altseason trade is no longer working the way it did in previous bull cycles, according to Ki Young Ju, CEO of CryptoQuant.

In a Saturday post, Ju said the Bitcoin-to-altcoin rotation trend has “basically disappeared,” citing CryptoQuant data showing BTC-pair altcoin trading volume has collapsed to its weakest levels since 2021.

Aggregated altcoin trading volume for BTC-priced pairs. Source: CryptoQuant

The metric excludes major altcoins such as Ether (ETH), XRP (XRP), BNB (BNB) and Solana (SOL), focusing instead on mid- and lower-cap altcoins traded against Bitcoin on centralized exchanges.

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In simple terms, it shows whether traders are using BTC to buy smaller altcoins.

That flow surged in 2017 and 2021, helping fuel record altseasons. But Young Ju’s chart shows BTC-pair altcoin volume remains near post-2021 lows, suggesting Bitcoin is no longer the main liquidity source for altcoin speculation.

“The era of alts pumping just because BTC pumps may be over,” Young Ju said.

Altcoin capital is now concentrated in fewer tokens

The wider altcoin market has become more concentrated, excluding stablecoins.

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As of Saturday, the non-BTC, non-stablecoin crypto market was worth roughly $600 billion. The top 10 non-stablecoin altcoins accounted for about $483 billion of that total, or roughly 80.5%.

TOTAL crypto market excluding Bitcoin and all stablecoins. Source: TradingView

The number of large market-cap altcoins has also fallen sharply since the last bull cycle.

In 2021, roughly 106 altcoins had above $1 billion in market valuation, according to CoinMarketCap’s historical snapshot. That number fell to around 50 in June 2026.

This echoes Young Ju’s argument that capital is no longer spreading across the altcoin market the way it did in 2021. The market has not disappeared, but it is being comprised of fewer large altcoins.

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In a separate thread, Young Ju said that “narrative-only altcoins” are losing relevance as the market matures.

Source: X/Ki Young Ju

Young Ju said hype alone is no longer enough. The stronger areas, he added, are tied to real businesses, revenue-generating DeFi, stablecoins, tokenized real-world assets, and AI agents.

That suggests the next altcoin cycle may be less about rotating into the whole market and more about finding tokens that can find applications and users across the aforementioned fields.

BTC dominance rebound may have “postponed” altseason

Bitcoin’s crypto market dominance (BTC.D) is also showing early signs of a rebound, which could delay a broader altcoin rally.

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The BTC.D metric has bounced from its 100-week exponential moving average (100-week EMA, purple) and the lower trend line of an ascending channel, both aligning at the 58.75% level.

BTC.D weekly performance chart. Source: TradingView

It could rally toward the channel’s upper trend line near 60% if momentum persists.

A move toward 60% would mean Bitcoin is gaining market share against the rest of crypto. In market terms, that suggests capital may continue rotating from altcoins back into BTC, limiting the chances of a near-term altseason.

Analyst Rekt Capital shared a similar view, pointing to a bullish divergence on Bitcoin dominance, which suggests that the “altseason is postponed.”

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BTC.D weekly performance chart. Source: TradingView/Rekt Capital

A bullish divergence forms when the metric makes lower lows while its RSI makes higher lows. It often signals weakening downside momentum and a potential rebound.

Related: Altcoin selling tops $266B as capital rotates out of crypto: Is altseason extinct?

Nevertheless, Rekt Capital said Bitcoin dominance’s upside may be limited because the metric has already lost its macro uptrend. He said the current bounce may act as a post-breakdown relief rally before further downside.

Bitcoin’s dominance may drop toward its 200-week EMA at 57% if Rekt Capital’s bearish scenario plays out.

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Wall Street Goes All-In on Blockchain Infrastructure in 2026

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Mastercard and Visa are building stablecoin settlement rails for issuers and payment networks.
  • Five major US banks plan a tokenized deposit network targeted for early 2027 launch.
  • DTCC’s tokenization service spans 50+ firms, with RWA trades starting in July 2026.
  • Standard Chartered’s Zodia Custody deal strengthens institutional digital asset custody offerings.

Wall Street’s institutional embrace of blockchain is accelerating, with Citi, Mastercard, Visa, DTCC, and several major banks now testing infrastructure for stablecoins, tokenized deposits, and settlement.

These moves signal a shift from trading-focused crypto exposure toward core financial plumbing, reshaping how money and assets move across global markets.

Payments and Deposits Drive Early Adoption

Stablecoin settlement has become a focal point for payment networks. Mastercard said in June it would add stablecoin settlement options for issuers and acquirers, while Visa is testing private stablecoin settlement with Brale on the Canton Network, a privacy-focused blockchain built for institutions.

Banks are pursuing a parallel approach centered on tokenized deposits. JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, and The Clearing House are planning a bank-led tokenized deposit network targeted for the first half of 2027, according to a Wall Street Journal report.

Retail banking is also entering the space. SoFi launched its own SoFiUSD stablecoin on its retail banking platform and named Bullish as its first centralized exchange partner. The company’s leadership framed this as removing a long-standing barrier between crypto and traditional finance.

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As CoinMarketCap noted in its coverage, Wall Street is entering the next phase of institutional crypto adoption, moving beyond trading desks and exchange-traded funds into core financial infrastructure. This shift extends well past payments into asset management itself.

Tokenization Reaches Private Markets and Fund Products

Private market access is expanding through tokenized structures. Citi launched Digital Depositary Receipts for private-company shares in June, creating a new way for investors to access private markets, amid rising demand for exposure to high-profile IPO candidates.

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Fund products are following a similar path onchain. BlackRock has filed to expand its tokenized fund suite following the 2024 launch of BUIDL, its first tokenized money market fund.

Separately, Ondo Finance, Kinexys by J.P. Morgan, Mastercard, and Ripple completed a pilot to redeem a tokenized US Treasury fund on blockchain rails in May.

Equities are also moving toward tokenized formats. Coinbase has outlined plans to offer tokenized US equities to non-US customers, while Kraken’s parent company, Payward, has pushed tokenized IPO access through xStocks.

Behind these products, infrastructure providers are building the systems that support settlement and custody at scale.

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DTCC said in May it was rolling out a tokenization service with more than 50 financial firms, with initial limited production trades for select tokenized real-world assets planned for July and a broader launch targeted for October.

Custody infrastructure is consolidating as well. Standard Chartered said in May it would acquire Zodia Custody’s crypto custody business and fold it into its own infrastructure, deepening its digital asset capabilities.

Industry observers describe this custody layer as essential groundwork. Ripple and Quinlan & Associates wrote in a February report that digital asset custody forms the foundational layer underpinning all digital asset use cases for financial institutions.

Together, these developments point toward blockchain becoming embedded in everyday financial operations, moving money, issuing securities, and settling transactions across major institutions.

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600,000 SOL Moved to Exchanges: Is a Drop to $50 Next?

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Solana investors have changed their tactics in the past several days, as on-chain data shows a massive spike in SOL exchange inflows.

According to popular analyst Ali Martinez, such behavior could be the catalyst for a more profound price decline, possibly pushing the asset toward $50, a level not seen in almost three years.

600K SOL Reach Exchanges

Citing data from Glassnode, Martinez outlined the significant uptick in the number of SOL tokens that reached exchanges, going from about 27 million to over 27.6 million, meaning a 600,000 coin deposit. Similar developments suggest that “market participants are moving liquid supply out of private wallets, signaling rising caution around current price levels.”

He added that large-scale token transfers to trading platforms hint at potential de-risking or hedging from investors, potentially leading toward a “short-term drawdown.”

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The analyst with over 165,000 followers on X warned that the $50 level might come into focus if this “spot supply triggers an immediate flush.”

“A localized pullback into this key zone would serve to fully absorb the short-term panic and clear the path for a healthy accumulation base before the next major expansion,” he added.

Up or Down Next?

Solana’s native token is up by over 4.5% in the past 24 hours, and has seemingly reclaimed the $70 support. However, fellow analyst Crypto Tony warned that the asset could drop toward $60 if this particular level gives in. The token slipped to $60 during the early June crash, but managed to defend that level. It hasn’t traded at Martinez’s lower target at $50 since late 2023.

Daan Crypto Trades also weighed in on SOL’s potential, but he focused on the BTC pair. He believes SOL is “attempting a breakout from this ralling wedge,” which could send it well above the current upper boundary of 0.0011 SAT. This became possible after SOL bounced from the lower boundary in early June at 0.001 SAT.

The post 600,000 SOL Moved to Exchanges: Is a Drop to $50 Next? appeared first on CryptoPotato.

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