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Crypto World

Ethereum tests $1,500 support as ETF selling and whale losses mount, will it crash?

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Weekly U.S. spot Ethereum ETF flows showing $260.49 million in net outflows for the week ending June 25, 2026, the largest weekly withdrawal in the displayed period.

Ethereum has extended its weekly decline as a multi-billion-dollar options expiry, institutional selling, and a hawkish Federal Reserve outlook have driven the token back toward its key $1,500 support.

Summary

  • Ethereum has fallen 14.4% from its June 22 high as ETF outflows, a $10.63 billion options expiry, and macro pressure fueled the selloff.
  • Technical indicators show bears remain in control, with $1,500 acting as the key support and $1,750 the first major recovery level.
  • CryptoQuant data show major Ethereum whale cohorts have slipped into unrealized losses, adding to concerns over near-term market sentiment.

According to data from crypto.news, Ethereum (ETH) fell about 7% to an intraday low of $1,517 on June 26 before stabilizing around $1,550 at press time. The asset has dropped nearly 14.4% from its June 22 high of $1,773.

The selloff gathered pace after Ethereum lost its 200-day moving average near $1,668, triggering a wave of leveraged long liquidations.

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Meanwhile, U.S. spot Ethereum ETFs recorded roughly $260 million in net outflows this week, a sharp jump from the previous weeks, as institutional investors reduced exposure ahead of expectations for three Federal Reserve rate hikes this year.

Weekly U.S. spot Ethereum ETF flows showing $260.49 million in net outflows for the week ending June 25, 2026, the largest weekly withdrawal in the displayed period.
Source: SoSoValue

Additional pressure emerged after the Ethereum Foundation announced a 20% workforce reduction and a 40% cut to its operating budget. The restructuring raised fresh questions about the network’s development pace and funding outlook while traders were already navigating heightened volatility around the $11 billion options expiry.

Ethereum’s $1,500 support has become the market’s main test

Ethereum’s daily chart shows that the token has broken below the $1,805 support area, turning a former demand zone into overhead resistance. The next major support sits near $1,414, while the current rebound attempt has remained limited after buyers defended the $1,500–$1,520 region.

Ethereum daily chart showing a breakdown below $1,805 support with the next major support near $1,414.
Ethereum daily price chart — June 26 | Source: crypto.news

On the four-hour chart, Ethereum has been moving inside a descending channel since its June 15 peak near $1,849. The Fib retracement map places immediate resistance near $1,584, followed by $1,641, $1,681, and $1,720. A stronger recovery would need a clean move above $1,750, which also matches a key level watched by traders.

Ethereum 4-hour chart showing a descending channel with resistance between $1,584 and $1,750.
Ethereum 4-hour price chart — June 26 | Source: crypto.news

According to analyst Ted Pillows, Ethereum’s momentum remains weak after retesting the lows.

“ETH tapped the lows again. The momentum is still weak due to market correction. But if Ethereum manages to reclaim the $1,750 level from here, we could see a relief rally next month.”

Momentum indicators remain soft. The four-hour RSI is near 35, keeping Ethereum close to oversold territory without confirming a strong reversal. The MACD remains below the zero line, although its histogram has started to flatten, showing that bearish pressure has slowed after the sharp drop.

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The daily Aroon setup still favors sellers. Aroon Down is at 100%, while Aroon Up sits near 21%, showing that Ethereum recently printed fresh lows while upside momentum remains limited. The daily MACD also remains negative, with both signal lines deep below zero.

Liquidation clusters keep pressure on both sides of the trade

CoinGlass’ three-day liquidation heatmap shows heavy leverage around $1,590 to $1,610 and a larger cluster near $1,660. If Ethereum rebounds through those zones, short liquidations could fuel a move toward $1,700 and then $1,750.

Ethereum liquidation heatmap showing dense leverage clusters around $1,600 and $1,660, with support near $1,500.
Ethereum liquidation heatmap | Source: CoinGlass

Below the spot price, the heatmap shows liquidation interest around $1,520 and $1,500 levels. A break under that area would expose the $1,464–$1,414 region, where the daily chart shows the next major support band.

Whale positioning has also weakened. CryptoQuant analyst Darkfost noted that three large Ethereum holder groups are now underwater, with unrealized profit ratios at -0.26 for 1,000–10,000 ETH holders, -0.21 for 10,000–100,000 ETH holders, and -0.05 for wallets holding more than 100,000 ETH.

According to Darkfost, this condition has not appeared since 2019, as even the largest Ethereum whales stayed in profit during the 2022 bear market. The analyst added that Ethereum has remained “fairly resilient” despite the pressure, as similar whale stress periods have historically appeared near major bottom zones.

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Downside risks remain high if Ethereum loses the $1,500 area with volume. A daily close below that level would weaken the double-bottom setup and increase the risk of a deeper move toward $1,414. A hawkish Federal Reserve, stronger U.S. dollar, rising Treasury yields, and continued ETF outflows would add pressure if institutional demand fails to recover.

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The bullish invalidation level is now clear. Ethereum needs to reclaim $1,750 and then $1,805 to prove that the latest decline was a liquidity-driven flush rather than the start of another breakdown. Until then, the market remains trapped between forced selling below $1,600 and short-covering risk above $1,660.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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GameStop (GME) Stock Rallies 4% as Cohen Doubles Down on eBay Acquisition Push

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GME Stock Card

Key Takeaways

  • GameStop has doubled down on its pursuit of eBay following the online marketplace’s dismissal of its approximately $56 billion combined cash-and-stock proposal
  • The unsolicited offer was initially presented by CEO Ryan Cohen in May, with the rationale that a merged entity would pose stronger competition against Amazon
  • The company indicated that “additional materials regarding the proposed transaction are forthcoming”
  • GME shares finished Friday’s session up 3.57% at $21.76, followed by an additional 1.96% gain to $22.19 during after-hours activity
  • The retailer anticipates adjusted EBITDA exceeding $600 million for fiscal 2026, representing substantial growth from the $345.4 million recorded in fiscal 2025

GameStop is refusing to walk away from its ambitious acquisition plans.

The video game specialty retailer submitted a regulatory disclosure on Friday reinforcing its determination to pursue eBay, despite the online auction platform’s previous rejection of the unsolicited proposal. GME shares ended Friday’s regular trading session with a 3.57% gain at $21.76, and continued climbing an additional 1.96% during extended trading hours to $22.19.


GME Stock Card
GameStop Corp., GME

The proposal, initially put forward in May by CEO Ryan Cohen, places eBay’s valuation at approximately $56 billion — representing a target roughly five times GameStop’s current market capitalization. eBay turned down the offer during the same month it was presented.

GameStop’s Friday regulatory submission was concise. The filing noted that the “leadership team remains focused on advancing the proposed acquisition of eBay” and confirmed that “additional materials regarding the proposed transaction are forthcoming.” Neither a specific timeline nor fresh details were disclosed.

Earlier in the week, GameStop had committed to releasing a comprehensive presentation outlining the strategic justification and operational blueprint for the potential merger. That promised presentation remains unreleased.

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Cohen’s rationale has remained unwavering: combining both platforms would establish a more formidable competitor to Amazon. He has additionally indicated his intention to personally lead the merged organization.

eBay declined to provide comment when contacted on Friday.

Financial Performance and Projections

Alongside the acquisition status update, GameStop provided shareholders with its fiscal 2026 financial outlook. The organization forecasts adjusted EBITDA surpassing $600 million for fiscal 2026, representing nearly double the $345.4 million figure achieved in fiscal 2025.

Earlier this month, GameStop announced its most profitable quarterly performance on record — delivering net income of $389.6 million against revenue of $835.3 million, marking a 14% year-over-year improvement.

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This financial momentum appears to support Cohen’s acquisition strategy. A more robust balance sheet provides GameStop with enhanced credibility when pursuing an acquisition target as substantial as eBay.

Nevertheless, prediction market platform Polymarket currently assigns just 16% probability to the deal’s completion, with potential shareholder dilution representing a primary concern among doubters.

Looking Ahead

GameStop has not yet published the comprehensive presentation it committed to delivering earlier this week.

The retailer has not clarified what structure a revised offer might assume, or whether it intends to bypass eBay’s board and appeal directly to eBay shareholders.

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Currently, the regulatory submission represents the full extent of GameStop’s public stance — a clear declaration that the acquisition proposal remains under consideration, with additional information pending.

GameStop currently holds a 96th percentile ranking for Growth based on Benzinga Edge Rankings, notwithstanding negative performance across short, medium, and long-term investment horizons.

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South Korea’s Stock Market KOSPI Just Flashed a Global AI Warning

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Korea Composite Stock Price Index (KOSPI) Price Performance. Source: TradingView

South Korea’s stock market index, the KOSPI, triggered its second circuit breaker in a single week amid the AI chip trade, rattling global markets.

Friday’s 8.19% intraday plunge forced another 20-minute halt and dragged Wall Street, Tokyo, and Tokyo-listed SoftBank sharply lower.

The cascade is now the clearest sign that AI chip exposure has become the central risk factor for global equities.

What Triggered the Latest KOSPI Halt

A circuit breaker is an emergency market mechanism that pauses trading when an index drops too sharply within a short timeframe. The Korea Exchange triggered one on Friday at 12:10 p.m. local time after the KOSPI remained more than 8% below the previous close for at least one minute.

The benchmark plunged 731.97 points, sinking to 8,198.33 at the moment of suspension. As a result, traders watched in real time as the index logged its fifth circuit breaker of 2026.

Furthermore, this marked only the second time both a sell-side sidecar and a circuit breaker were activated in the same session.

The KOSPI closed at 8,411.21, down 5.81% on the day. Samsung Electronics fell 5.30% to 339,500 won (~$248), while SK Hynix dropped 8.36% to 2.673 million won (~$1,950).

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Both chipmakers account for roughly half of the index’s market capitalization, amplifying the broader index move significantly.

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Korea Composite Stock Price Index (KOSPI) Price Performance. Source: TradingView
Korea Composite Stock Price Index (KOSPI) Price Performance. Source: TradingView

Capital outflows hit hard. Foreign investors dumped a net 4.62 trillion won (~$3.4 billion) across the session. Institutional investors followed with another 3.78 trillion won (~$2.8 billion) in sales.

However, retail investors took the opposite side, buying a net 8.19 trillion won (~$6.0 billion) as they doubled down on the long-term AI infrastructure thesis.

The episode lands just three trading days after Tuesday’s 9.99% crash. That earlier session triggered the first circuit breaker of the week, sending Samsung and SK Hynix down more than 12% each.

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As a result, KOSPI volatility has now reached levels rarely seen since the index’s inception.

How the AI Chip Trade Is Driving Global Risk

The catalysts for Friday’s selloff were a layered mix of memory chip concerns. Worries about slowing demand and pricing tensions between Apple and Micron drove early selling.

Furthermore, renewed concerns about AI infrastructure costs and a potential delay in OpenAI’s IPO added fuel to the cascade.

Profit-taking compounded the move sharply. The KOSPI had bounced 5% on Wednesday and another 3% on Thursday after Tuesday’s initial crash. As a result, passive funds tracking semiconductor-heavy indexes rotated out aggressively, generating waves of forced selling across every chip-related name in Seoul.

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The ripple effects reached well beyond Korea. The Nikkei 225 plunged 4.15% on Friday to 69,360.83, completely wiping out Thursday’s gains and surrendering the 70,000 level.

Moreover, SoftBank dropped more than 12% in Tokyo, pressured by reports of the OpenAI IPO timeline circulating across global wires.

Wall Street felt the move clearly. The Nasdaq Composite closed Friday with its fifth consecutive losing session. The index fell 4.6% on the week. Furthermore, the S&P 500 lost almost 2% across the same period, while the Philadelphia Semiconductor Index extended a global rout that had already swept Asia and Europe.

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Analyst commentary frames the situation as a concentration story. With Samsung and SK Hynix representing more than half of the KOSPI, every move in memory chips becomes an index-level event.

As a result, KOSPI-linked products now behave less like a Korean equity gauge and more like a pure proxy for AI chip sentiment.

The wider takeaway is structural. AI infrastructure spending, memory pricing, and the timing of major IPOs now drive the entire global risk picture.

Until the AI chip trade finds a steadier footing, circuit breakers in Seoul will keep coming as the first warning signal for every downstream market.

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The post South Korea’s Stock Market KOSPI Just Flashed a Global AI Warning appeared first on BeInCrypto.

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Coinbase and OKX try to lure in Binance’s users after it failed to secure a MiCA license

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Market structure bill compromise draws wide-ranging reaction from fractured crypto crowd

“If you’re looking for a regulated platform built for the long term, we’re excited to welcome you to OKX,” he said. “To celebrate this new chapter, we’re offering one of our biggest welcome campaigns for eligible EEA users, including welcome bonuses and deposit matching of up to 8%.”

Binance emailed its users notifying them the exchange was no longer able to accept new registrations and would restrict services, a spokesperson for the Abu Dhabi-based company told CoinDesk. “Your assets remain safe and secure, and will remain accessible at all times,” the email said.

On Thursday, the company said it withdrew its license application in Greece and would seek authorization in another EU country.

However, in a statement to CoinDesk, Binance said its “ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months.”

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The emails to clients in France, Italy, Poland and Spain come days before a June 30 deadline. Crypto firms must have a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states. Unlicensed firms must wind down their EU activities.

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Rain Trade launches decentralized prediction market as the industry rethinks how questions are created and managed

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FDIC faces GAO pressure over gaps in crypto oversight

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Prediction market transparency is under scrutiny as decentralized platforms like Rain Trade promote open market creation and broader user participation.

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Summary

  • Rain Trade promotes decentralized prediction markets as transparency concerns reshape the forecasting industry.
  • Rain Trade launched during the FIFA World Cup with onchain prediction markets and community-driven creation.
  • Transparency debates in prediction markets spotlight Rain Trade’s decentralized approach to market creation.

Over the past several years, prediction markets have sold themselves as a window into public sentiment, cutting through speculation by putting real dollars behind possible outcomes. But recent news around industry leader Polymarket has raised questions about what happens when the platforms designed to measure public sentiment start influencing the outcomes they’re meant to measure. 

Investigations into the company’s marketing practices have alleged that paid influencers and simulated trades blurred the line between genuine market activity and paid promotion, sparking a broader debate about transparency in the forecasting industry. 

Their credibility depends on users trusting that markets are being created, promoted, and operated fairly. As forecasting platforms continue to grow, questions about transparency are no longer limited to market outcomes but now extend beyond market outcomes to the centralized systems that control them.

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As questions around transparency continue to circulate, Rain Trade offers an alternative model for how prediction markets can operate. Built on decentralized infrastructure, the platform enables users to launch prediction markets on virtually any topic, event, or question. These markets can be public, created in any language, or limited to specific communities through invite-only access. The platform also reduces onboarding friction by allowing users to fund accounts across multiple blockchain networks and automatically converting assets to enable USDT trading. 

Rain Trade debuts during the 2026 FIFA World Cup, bringing Mike Tyson in its launch campaign as fans react in real time to goals, injuries, and unexpected moments on the field. Rather than relying on a centralized team to determine which conversations deserve a market, the platform allows users to create forecasts around the moments they believe matter most.

Sharing his perspective on the future of community-driven prediction markets, Roy Shaham, CEO of Rain Protocol, the decentralized protocol layer Rain Trade is built on, explains: “Traditional prediction markets have operated with a backward mentality. They’ve historically focused on controlling what people can predict rather than giving them the opportunity to create markets themselves. Rain Trade is giving users the freedom to decide what deserves a market, and the World Cup is a perfect stage to show how powerful prediction markets can become when they are shaped directly by the communities participating in them.”

The distinction goes beyond market creation. With more attention being put towards how prediction platforms are promoted and managed, Rain Trade’s infrastructure is designed to make market activity visible and verifiable. Market creation, trading activity, and outcomes are recorded onchain, creating a public record that cannot be altered after the fact. 

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The platform also supports AI-powered and manual resolution, giving creators flexibility in how outcomes are determined. Market creators are rewarded with 1% of the trading volume generated by their markets, incentivizing users to contribute to the ecosystem rather than relying solely on platform operators.

Recent controversy has shown how quickly confidence can be questioned when users believe a platform has too much control over the system it operates. As the industry continues to grow, platforms that separate infrastructure from oversight may play an increasingly important role in restoring confidence in the category.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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Polymarket hack updated to $3.1 million days after the platform promised users full refunds

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Polymarket hack updated to $3.1 million days after the platform promised users full refunds

On Thursday as well, Specter Analyst, another blockchain intelligence platform, said on Thursday that “It appears there may be a phishing attack targeting Polymarket users, with estimated losses of $2.94M so far.”

One of the victims of the hack, Ash, on X wrote that his wallet had been hacked and had no idea why at the time. Ash also shared his and the attacker’s wallet addresses.

Polymarket has suffered other security breaches recently. In March, blockchain investigator ZachXBT highlighted a suspected security breach. He said over $520,000 was reportedly drained from two smart contracts on the Polygon blockchain. Polymarket then said the funds were safe.

In December, the platform confirmed a security incident on its Discord channel after users reported missing funds and suspicious login attempts. It blamed an unidentified third-party login provider for those account breaches.

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The news of the phishing attack follows reports that Polymarket is under federal investigation following a Wall Street Journal article into the prediction markets platform deceptive social media promotion of users boasting winnings.

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Lucid (LCID) Stock Soars 15.6% Amid Uber Robotaxi Partnership Buzz

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LCID Stock Card

Key Highlights

  • Lucid (LCID) shares skyrocketed 15.6% during Friday’s trading session, reaching an intraday peak of $5.95, fueled by heightened enthusiasm surrounding its autonomous vehicle collaboration with Uber and Nuro.
  • The EV manufacturer serves as the exclusive vehicle provider for the robotaxi initiative, delivering Gravity SUVs with plans to launch commercial operations in 2027 across San Francisco and Houston markets.
  • As part of a broader restructuring initiative, Lucid is trimming its domestic workforce by 18%, a strategic move projected to generate approximately $158 million in annual savings.
  • Analyst sentiment remains subdued — the Street consensus stands at a “Reduce” recommendation with a mean price objective of $9.67.
  • The company confronts legal challenges through a securities class action lawsuit targeting shareholders who purchased shares between February 25 and April 13, 2026.

Shares of Lucid Group (LCID) surged 15.6% during Friday’s session, peaking at $5.95, while trading volume exploded to 35 million shares — approximately three times typical daily activity. The previous session concluded at $5.12.


LCID Stock Card
Lucid Group, Inc., LCID

The upward momentum reflected renewed investor enthusiasm regarding Lucid’s position as the exclusive vehicle manufacturer for the Uber and Nuro autonomous transportation initiative. The arrangement involves Lucid delivering Gravity SUVs alongside upcoming midsize vehicle models for the robotaxi fleet.

Production-validation units of these autonomous vehicles are currently being manufactured at Lucid’s Arizona manufacturing plant. The commercial rollout timeline targets 2027, with initial operations launching in the San Francisco Bay Area followed by Houston market expansion.

An engineering test fleet comprising nearly 100 Gravity-based autonomous vehicles is being deployed throughout California and Texas for comprehensive testing and safety certification protocols. Uber has already established a 50,000-square-foot operations depot and charging infrastructure in Houston, where supervised on-road testing is currently progressing.

This price surge follows a 7.5% appreciation nine days earlier, triggered by the initial announcement of the Houston expansion by Lucid, Uber, and Nuro. Houston represents the second metropolitan area designated for the program, following San Francisco.

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Strategic Cost Reduction Amid Expansion

Beyond the autonomous vehicle headlines, Lucid is executing a comprehensive organizational restructuring. The company plans to eliminate 18% of its U.S. employee base, an initiative anticipated to yield approximately $158 million in annual cost reductions. Management transitions are simultaneously occurring alongside fresh vehicle development strategies.

Despite Friday’s rally, shares remain underwater 50.2% for the year-to-date period. At $5.92, the stock trades 82.3% beneath its 52-week peak of $31.30, achieved in July 2025.

Recent financial performance proved disappointing. Lucid disclosed a Q1 loss of $2.82 per share, falling short of the $2.53 consensus forecast. Revenue registered at $282.46 million, missing analyst expectations of $358.46 million, although this represented a 20.2% year-over-year increase.

Ongoing Legal Challenges and Analyst Hesitation

Several law firms are pursuing a securities class action litigation targeting shareholders who acquired LCID shares during the February 25 through April 13, 2026 timeframe. This legal exposure introduces additional uncertainty the company must navigate alongside operational hurdles.

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Wall Street analysts show limited enthusiasm for upgrading their outlook. TD Cowen maintains a “hold” stance with a $7.00 price objective. Morgan Stanley projects a $5.00 target. Citigroup stands as the optimistic outlier with a “buy” rating and $14.00 target. The aggregate consensus reflects a “Reduce” rating with a $9.67 mean price target.

Goldman Sachs expanded its stake during Q1, nearly doubling holdings to 5.44 million shares. Institutional ownership collectively represents 75.17% of outstanding shares.

Lucid maintains a market capitalization of $2.31 billion, carries a debt-to-equity ratio of 3.00, and reports a current ratio of 1.02.

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Apple (AAPL) Stock Gains 3% Amid Bid to Source Chips From Sanctioned Chinese Manufacturer CXMT

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AAPL Stock Card

Key Takeaways

  • Apple is petitioning the Trump administration for permission to source memory chips from CXMT, a Chinese semiconductor company designated on the Pentagon’s Chinese Military Company list.
  • The tech giant implemented a 20% price increase on MacBook and iPad products driven by escalating memory component costs, prompting the search for alternative suppliers.
  • CXMT specializes in standard DRAM production but lacks capabilities in high-bandwidth memory (HBM), the advanced chip category fueling Micron’s artificial intelligence market expansion.
  • Shares of Micron (MU) declined 6.69% following the disclosure, though market analysts indicate minimal competitive risk to Micron’s core business.
  • Legislative resistance poses a significant obstacle, as Apple’s prior effort to partner with Chinese manufacturer YMTC in 2022 triggered swift congressional opposition.

Apple has initiated discussions with United States government officials seeking authorization to procure memory chips from ChangXin Memory Technologies (CXMT), a Chinese semiconductor producer appearing on the Pentagon’s Chinese Military Company designation list, a Financial Times report revealed Friday.


AAPL Stock Card
Apple Inc., AAPL

AAPL stock traded up 3.14% to $283.78 during the reporting period. Micron (MU) dropped 6.69% following the revelation.

Apple has been requesting guarantees from the Commerce Department alongside other administration representatives that procuring components from CXMT wouldn’t result in subsequent restrictions or sanctions. Although purchasing chips from CXMT isn’t explicitly prohibited, proceeding without official approval could subject Apple to political backlash and reputation damage.

This initiative follows Apple’s announcement of price increases across multiple MacBook and iPad configurations by approximately 20%. CEO Tim Cook explained the company could no longer offset the climbing cost of components, especially memory. That disclosure triggered AAPL’s steepest single-day decline in over twelve months.

DRAM pricing has skyrocketed in recent years, propelled by constrained supply and massive demand from AI infrastructure expansion. Apple, representing the world’s largest memory purchaser, now aims to diversify its component sourcing to reduce these expenses.

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Understanding CXMT’s Product Portfolio

CXMT manufactures traditional DRAM products — DDR5 for personal computers and servers, LPDDR5X for mobile devices, and enterprise memory solutions. Notably absent from its product lineup is high-bandwidth memory (HBM), the specialized chip driving Nvidia’s AI accelerators and the data infrastructure supporting the ongoing AI investment surge.

This distinction matters significantly for Micron shareholders. HBM represents where Micron’s profit margins and revenue expansion are concentrated. CXMT currently operates outside that segment. If Apple secures approval and begins purchasing from CXMT, Micron’s HBM operations would remain untouched.

Micron, Samsung, and SK Hynix manufacture HBM. CXMT does not.

Apple Contributed to the Supply Crisis It Now Seeks to Escape

The situation contains notable irony. Throughout the previous memory market downturn, Apple leveraged its enormous buying influence to force suppliers like Micron toward bottom-tier pricing. Micron’s Chief Business Officer Sumit Sadana openly criticized Apple’s approach as “not constructive,” noting it discouraged investment in additional manufacturing infrastructure.

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Suppliers postponed or abandoned expansion initiatives. Subsequently AI demand emerged, leaving the market without capacity to react swiftly. The scarcity and inflated pricing Apple currently confronts stem partially from that previous cost pressure campaign.

Apple attempted a comparable strategy in 2022, exploring procurement from another blacklisted Chinese company, YMTC. Congressional members immediately cautioned the company against proceeding, referencing national security implications. CXMT encounters identical scrutiny, leaving uncertainty whether the White House would endorse the petition.

CXMT recently obtained authorization to pursue a public listing on the Shanghai stock exchange and has been scaling production with financial support from the Chinese government.

Samsung Electronics declined 5.30% and SK Hynix tumbled 8.36% on the disclosure.

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SecondFi Plans Two-Week Return After Cardano Wallet Exploit Forensics

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Crypto Breaking News

Cardano wallet SecondFi says it has identified a recovery pathway for users affected by a Tuesday exploit and expects to begin returning assets in roughly two weeks. The plan follows forensic work, security reviews, and additional testing to ensure the process can safely operate across the wallet states involved in the incident.

In an update shared on Saturday, Phillip Pon, CEO of SecondFi developer Emurgo, said the company completed its forensic investigation and “established a recovery pathway” for affected users. Pon added that the coming week would be used to build the solution, followed by another week devoted to testing before any assets are returned.

Key takeaways

  • SecondFi says recovery should start in about two weeks after building and testing a new solution.
  • The affected incident was traced to an address-level issue in SecondFi’s Cardano web wallet generation software that exposed private keys.
  • SecondFi transferred approximately 129 million ADA secured via emergency measures to an independent third-party custodian while verification and recovery are pending.
  • Users are warned not to migrate funds or follow instructions outside SecondFi’s official guidance, as this could complicate safe returns.
  • SecondFi also cautioned that scammers are impersonating the wallet and soliciting private keys, seed phrases, and other access details.

Forensics complete; recovery build then testing

SecondFi’s recovery roadmap is centered on work Pon said has already been completed: forensic investigations and the establishment of a recovery pathway tailored to the wallet conditions created by the exploit. Pon indicated that the company’s next step is engineering the recovery mechanism, with a dedicated testing phase immediately afterward.

Importantly, Pon urged users to avoid moving assets or taking actions outside SecondFi’s official instructions while the recovery process is prepared. He said the recovery approach is designed around existing wallet states, and independent user actions could introduce variables that make a secure return of funds harder to complete.

What the Tuesday breach involved

SecondFi previously disclosed the security breach on Tuesday, reporting that it affected approximately 16 million ADA, worth about $2.4 million at the time, across 374 addresses. According to the wallet’s earlier reporting, the incident was traced to an address-level issue tied to SecondFi’s Cardano web wallet generation software, which exposed users’ private keys.

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Separate from the impact on those exposed addresses, SecondFi said it secured roughly 129 million ADA through emergency measures. The company then moved those funds to an independent third-party custodian, where they will remain until SecondFi completes verification and recovery.

As of the Saturday update, SecondFi has not published a full post-mortem describing the vulnerability in detail or outlining precisely how the exploit was carried out.

SecondFi pushes back against recovery-related scams

Alongside the recovery timeline, SecondFi warned that malicious actors are spreading fraudulent messages while its recovery effort is underway. The wallet emphasized that no recovery actions requiring user participation have begun.

SecondFi said it will never ask users for private keys, seed phrases, wallet credentials, or direct wallet access. It urged users to treat any messages instructing them to submit wallet information, migrate assets, or take immediate steps outside verified communication channels as scams.

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For users who need help, SecondFi directed them to submit a ticket through its official support portal while the recovery process is still being built and tested.

Why the timeline and custody details matter

For affected users, the most practical element of Saturday’s update is the sequencing: SecondFi is not requesting immediate user action, and it is framing the recovery work around wallet states that already exist from the time of the incident. That matters because ad hoc user behavior—such as moving funds or switching wallet setups during a recovery window—can create mismatches between what a recovery solution expects and what is actually on-chain.

The custodian step also signals that SecondFi is treating the recovered funds as subject to verification before release. While this does not eliminate uncertainty for users whose keys were exposed, it does provide an explicit holding point that, in principle, can reduce the risk of funds being moved without a defined recovery process.

Readers should watch for SecondFi’s testing milestones and any further technical disclosures about what went wrong, as the company has not yet released a comprehensive post-mortem. In the meantime, the practical priority remains clear: follow only verified SecondFi guidance and ignore any unsolicited messages demanding wallet access or recovery “assistance.”

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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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Can HYPE reclaim $70 after pullback?

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Hyperliquid (HYPE) price chart, source: crypto.news

Hyperliquid traded near $63 on June 26 after pulling back from its all-time high of $76.70 earlier this month. 

Summary

  • HYPE holds above $60 support while whales continue buying during the wider crypto market pullback.
  • Multicoin’s $319 target depends on Hyperliquid keeping revenue growth, market share and buybacks strong.
  • Technical indicators show cooling momentum, with bulls needing $65-$70 to regain stronger control soon.

According to crypto.news data, the token is down over the past week, but it still holds a large gain over the past year.

The latest Hyperliquid price data shows HYPE trading between $59.48 and $65.17 over the past 24 hours. The token holds a top-10 market rank, with a market cap above $14b and fully diluted value above $60b.

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HYPE’s recent move looks like a consolidation phase after a sharp rally from the low $30s in March. Price has cooled near $63, but the $60 area remains the main short-term support zone.

A clean break below $60 would put the next support area near $55-$58 back in focus. A move above $65 would show early strength, while a close above $70 would give bulls a stronger case for a retest of the recent high.

Hyperliquid whales keep buying during pullback

Whale activity remains one of the stronger parts of the HYPE setup. According to Lookonchain, a newly created wallet withdrew 222,493 HYPE, worth about $14.41m, from Coinbase Prime. Another whale received 44,986 HYPE, worth about $2.87m, from FalconX.

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Those transfers do not prove long-term holding, but they show large buyers are still active during the pullback. Traders often watch Coinbase Prime and FalconX flows because they can reflect institutional or high-net-worth activity.

Derivatives data also shows active trading. CoinGlass data shows HYPE volume rose 29.79% to $4.59b, while open interest slipped 1.15% to $2.52b. Options open interest rose 10.62%, but options volume fell sharply, showing that most activity remains in spot and perpetual futures.

As previously reported, HYPE rallied more than 40% in one week in May as derivatives activity, ETF demand and protocol buybacks supported the move. The current pullback is testing whether that demand can keep absorbing profit-taking.

Multicoin target lifts long-term debate

Multicoin Capital has published a bullish valuation report on HYPE. In the full analysis, the firm said HYPE is now one of the largest positions in its liquid fund and that it has been accumulating since February.

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The firm said Hyperliquid generated about $873m in revenue across roughly $2.9t in trading volume in 2025. It also said the platform grew from about 301,000 to 923,000 users and ended the year with about $6b in open interest.

Multicoin argued that Hyperliquid is taking share from centralized exchanges. It said monthly perpetuals volume is now about 17% of Binance’s level, while open interest has reached about 21% of Binance’s level.

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The firm also pointed to HIP-3, HIP-4, portfolio margining, prediction markets, tokenized assets and HyperEVM growth as future drivers. 

“We believe Hyperliquid is becoming the everything exchange,” it said.

As crypto.news reported, Multicoin backed a $319 HYPE target by 2028 under its base case. The firm also listed risks, including regulation, governance, competition, bad debt and technical pressure.

Technical signals show cooling momentum

The HYPE/USDT daily chart still shows a broader uptrend from March. Price climbed from the low $30s to above $70 before pulling back. That structure keeps the larger trend constructive, but short-term momentum has cooled.

The Accumulation/Distribution indicator is near 2.32m. It remains elevated after rising sharply earlier in June, which suggests buying pressure improved during the rally. The line has flattened recently, showing that accumulation is no longer accelerating.

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Hyperliquid (HYPE) price chart, source: crypto.news
Hyperliquid (HYPE) price chart, source: crypto.news

The Aroon Oscillator is positive near 28.57. That keeps the short-term trend bias slightly bullish, but the reading has weakened from stronger levels. This means the uptrend remains alive but has lost some speed.

In a previous article, crypto.news discussed HYPE’s double-top risk after its pullback from the all-time high. That pattern put the $65 and $62 areas in focus. Price is now trading near that same zone.

Previously, crypto.news exploredwhether HYPE can reach $100 in 2026. That scenario depends on buybacks, volume growth, token unlocks and wider market strength.

For now, HYPE remains in a mixed setup. Whales are buying, Multicoin has issued a strong long-term case, and the broader trend still holds above $60. But momentum has cooled, and bulls need a move back above $65-$70 to confirm that the next upside phase is starting.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Why ZunaBet Is Showing Up in Bet365 and 888casino Comparisons

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Hacksaw Gaming At ZunaBet

Bet365 and 888casino sit among the most recognized names in online betting, with decades of operation behind each of them. The space they helped shape, though, keeps evolving — and lately, players comparing the veterans have started looking past them too. ZunaBet, which launched in 2026, is one of the names appearing more often in those side-by-side conversations as the crypto-first model continues to gain ground.

What follows is a look at how the established names compare today, and why ZunaBet is drawing attention as players widen the field.


The Veterans of the Space

Bet365 has been running since 2000. Built from the UK and now a global brand, it brings sportsbook, casino, poker, and bingo under one account. Funding moves through cards, bank transfers, and e-wallets, and the operator carries licenses in every region it serves.

888casino goes back even further, to 1997. As one of the first online casinos to launch, it operates under the 888 Holdings umbrella and continues to hold steady positions in European regulated markets and parts of North America. The library leans on slots, table games, and live dealer rooms. Like Bet365, it works on fiat banking under regional licensing.

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Both deliver the dependability that long-standing brands tend to provide. Both also work within constraints baked into that model — fiat-only banking, withdrawal speeds tied to chosen methods, libraries smaller than what global crypto brands carry, and loyalty programs that stay close to long-running structures.


ZunaBet Enters the Comparison

ZunaBet went live in 2026 under Strathvale Group Ltd with an Anjouan gaming license. The defining difference between it and the established names is structural. Crypto wasn’t introduced later — the platform was built around it from the start.

Hacksaw Gaming At ZunaBet
Hacksaw Gaming At ZunaBet

The game catalogue reaches more than 11,000 titles from over 60 providers, including Pragmatic Play, Hacksaw Gaming, Yggdrasil, BGaming, and Evolution. That ranks it among the larger crypto-focused libraries on the market and pushes past what Bet365 and 888casino offer in most of their licensed regions. Slots, table games, and live dealer rooms all share a single account.

ZunaBet Sports
ZunaBet Sports

The sportsbook is built into the platform too. Football, basketball, tennis, NHL, and the other major sports sit alongside CS2, Dota 2, League of Legends, and Valorant. Virtual sports and combat sports finish the menu. That makes ZunaBet a hybrid in the same category as Bet365, with wider market coverage under one roof.


How the Payment Models Compare

The operating gap shows up most clearly in banking. Bet365 and 888casino move money through traditional rails. The cost is processing windows, possible holds, and withdrawal speeds that depend on which method players chose.

ZunaBet’s payment stack is entirely crypto. More than 20 currencies are supported, covering Bitcoin, Ethereum, USDT across multiple chains, Solana, Dogecoin, Cardano, and XRP. No platform fees apply, and withdrawals settle fast. For players already comfortable with crypto, the experience cuts out the slower elements that come with banking.

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ZunaBet Payments
ZunaBet Payments

Reach matters here too. Crypto-first operators aren’t tied to the same region-by-region licensing requirements that govern fiat brands. ZunaBet’s full setup is available across many regions where older brands face restrictions. For players already moving in digital, crypto-friendly contexts, that aligns with how they expect modern platforms to work.


Welcome Bonuses Compared

Bet365 and 888casino structure welcome offers by region. Deposit matches or smaller new-player bonuses are typical, with wagering requirements that need close reading on the casino side.

ZunaBet Welcome Bonus
ZunaBet Welcome Bonus

ZunaBet’s welcome package goes up to $5,000 plus 75 free spins, spread across three deposits. The first matches 100% up to $2,000 plus 25 spins. The second adds 50% up to $1,500 plus 25 spins. The third returns to 100% up to $1,500 plus another 25 spins. Marketed as a 250% bonus across three deposits, it gives new players more depth to explore the platform than a single-deposit bonus offers.


Loyalty: Different Approaches

Bet365 takes a low-key approach to loyalty, with personalised offers reaching player accounts based on activity rather than a structured tier system. 888casino runs a more traditional VIP setup with points, free spins, and elevated promos at higher tiers. Both work, but both stay close to the standard loyalty card format.

ZunaBet changes the structure. The program runs on a dragon evolution theme, with a mascot called Zuno guiding players through six tiers. Squire opens at 1% rakeback, then Warden at 2%, Champion at 4%, Divine at 5%, Knight at 10%, and Ultimate at the top with 20% rakeback.

ZunaBet VIP
ZunaBet VIP

Higher tiers unlock more than rakeback. Tier-based free spins reach up to 1,000 spins, with VIP club access and double wheel spins layered through the journey. The whole format feels closer to progressing through a game than working through a points card. For players already familiar with that kind of mechanic, it changes the feel of regular play.


Why Players Are Looking at ZunaBet

Bet365 and 888casino remain dependable for players who value regulation and a long track record. Neither brand is in any danger of losing its place. But the bar for what an online betting platform should deliver keeps moving. Fast withdrawals, deep libraries, and engaging loyalty mechanics are now expected as standard rather than upsells.

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ZunaBet was designed around those expectations from day one. The crypto-first core delivers quick payments and low fees. The library reaches beyond what most established brands carry. The sportsbook integrates traditional sports and esports together. The dragon loyalty program adds direction and progression to regular play.

For players who want speed, variety, and a more current feel, ZunaBet ranks among the more interesting platforms to track right now. It’s still in its early growth phase, but the direction is clear. A new generation of players treats crypto support, gamified rewards, and global access as starting points rather than features that need to be requested.

Bet365 and 888casino built the online betting world that exists today. ZunaBet is one of the platforms shaping what comes next — and the players who notice early are the ones getting the first look.

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