NVIDIA shares found themselves at the centre of debate over the future of the Kyber NVL144 system. On 6 July, CNBC, citing research firm SemiAnalysis, reported that the project could be delayed by more than a year—from 2027 to 2028—due to manufacturing issues involving a specialised printed circuit board (PCB). NVIDIA firmly denied the claims, helping the stock recover more than 1%.

Sentiment was also supported by a Goldman Sachs note, which described NVIDIA’s forward P/E ratio of 21.7 as attractive compared with its historical average (estimated by secondary sources at around 72). According to SemiAnalysis, a delay could provide competitors such as AMD and Google with a temporary opportunity to narrow the technology gap. However, the market’s reaction suggests investors are, for now, placing greater confidence in NVIDIA’s denial than in the reported production concerns.

Technical Outlook

On the H4 chart, NVIDIA (NVDA) had been trading within a descending corrective channel that developed after the mid-May peak near $236. Recently, however, the price attempted to break above the channel’s upper boundary. Combined with a move above the upper edge of the current Market Profile at $202, this increases the possibility that the corrective structure is beginning to reverse.

If the bullish scenario unfolds, the next significant resistance levels could be located around $215 and $232. Below the current price, the Point of Control (POC) remains near $195, followed by two important support levels: the lower boundary of the Market Profile at $192 and the green support zone around $190.

It is also worth noting that vertical trading volume declined noticeably during the second half of the corrective channel, which may indicate weakening market participation. As a result, the move above the Market Profile could prove temporary unless supported by stronger buying activity. Meanwhile, the RSI + MAs indicator currently reads 52, 52, and 48, with all three lines clustered in neutral territory and not yet providing confirmation of the potential upside breakout.

Summary

The break above the descending channel is technically encouraging, but without stronger volume confirmation it could still prove to be a temporary move within a broader correction. The stock’s next directional move will likely depend on whether the debate surrounding the Kyber NVL144 project develops further or gradually fades from investors’ attention.

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• Injective (INJ) climbed 5.1% after breaking above key technical resistance.
• Strong volume supports a potential move toward $5.30.
• Analysts highlight improving momentum despite macro risks.

Injective is posting one of the strongest short-term performances among major altcoins today.

While much of the cryptocurrency market remained subdued, INJ climbed more than 5% over the past 24 hours, supported by a decisive technical breakout and a sharp increase in trading activity.

The move has shifted focus to the next key resistance level at $5.30.

At the same time, improving on-chain metrics and renewed optimism among market analysts have added to the growing interest in the token.

Technical breakout puts $5.30 in focus

At press time, INJ traded around $5.02 after gaining 5.1% over the previous 24 hours.

The latest rally was largely driven by a breakout above the 30-day simple moving average near $4.85.

Buyers also pushed the token through the 50% Fibonacci retracement level around $5.06, a level that had capped previous recovery attempts.

The surge also stood out because it occurred while Bitcoin was slightly weaker during the same period, indicating that the latest advance was driven primarily by Injective’s own technical setup rather than broad market strength.

Unlike many short-lived price spikes, this breakout was accompanied by stronger participation from traders.

Daily trading volume rose by more than 26% to approximately $86.9 million, suggesting that the move was supported by fresh buying interest rather than weak liquidity.

The next level attracting attention now is the 38.2% Fibonacci resistance around $5.30.

Holding above the $4.85 breakout zone would keep that target in focus, while losing this level could expose the token to another test of support near $4.50.

On-chain activity continues to support the network

The recent price action also comes alongside several encouraging developments within the Injective ecosystem.

The network has processed more than $34 billion in derivatives trading volume, highlighting continued activity across its decentralised finance infrastructure.

At the same time, Injective has strengthened its stablecoin ecosystem through native USDC support, making it easier for users and developers to access on-chain liquidity.

Another closely watched metric is the Community Buyback mechanism.

More than 7.1 million INJ have now been permanently removed from circulation through the program, reinforcing the network’s long-term deflationary model.

The latest CoinGecko report puts Injective’s growth into perspective.

Top 10 L1 by protocol revenue, $34B+ in derivatives volume, native USDC, and 7.1M+ $INJ burned through the Community Buyback.$INJ keeps proving its strength with real onchain activity. @injective pic.twitter.com/Fe39MnS5Hm

— LOST CAT (@0x_Eligible) July 14, 2026

Protocol revenue has also remained among the strongest across Layer-1 blockchain networks, reflecting sustained activity rather than growth driven purely by speculation.

Although there were no major partnership announcements or protocol upgrades directly linked to the latest price increase, these on-chain metrics continue to provide additional context for the token’s recent resilience.

Analysts point to improving market structure

Market participants have also been watching several technical assessments published over the past few days.

Veteran financial trader Matthew Dixon said the broader cryptocurrency market could still form a meaningful low later in the year, but identified Injective as one of the stronger-looking altcoins.

According to Dixon, INJ established an important bottom between $2.60 and $2.80 before advancing toward the $6.80 to $7.00 area in what he described as a possible five-wave structure.

More importantly, the subsequent correction failed to create new lows and remained above major Fibonacci retracement levels, a pattern he considers healthier than that seen in many competing altcoins.

Dixon highlighted several important support levels for traders to monitor, including $4.57, $4.32, and $4.14. He also noted that the Relative Strength Index, or RSI, was hovering near 53, indicating that momentum was rebuilding instead of weakening.

Dixon added that if Bitcoin experiences another broad market decline of roughly 20%, Injective could revisit $3.75, with $3.40 representing a more extreme downside scenario during a wider market sell-off.

A separate chart shared by FurkanConsensus also pointed to improving long-term structure. The analyst identified a recurring liquidity and accumulation zone on the weekly chart that has repeatedly preceded major price moves.

Historical examples highlighted by FurkanConsensus include a rally of around 300% after a March 2023 retest of the zone and another advance of roughly 160% following about 70 days of accumulation between March and April 2026.

FurkanConsensus also noted that not every visit to the level immediately led to gains, citing November 2022, when the token briefly touched the area before declining further.

$INJ 1W Chart

I’m not sure, but it looks like the lines on the $INJ chart have been playing out pretty well. I also discovered a new level, which I’ve marked with the green line because it appears price has consistently visited this area for liquidity and accumulation.

Now… pic.twitter.com/VM3o26thZK

— FurkanConsensus 🦇🔊🍉 (@FurkanConsensus) July 13, 2026

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Injective short-term outlook remains tied to key support

Despite the recent breakout, the next few trading sessions are likely to determine whether the move develops into a broader recovery.

Maintaining support above $4.85 would leave the door open for another attempt at $5.30, especially if trading volume remains elevated.

A successful move above that resistance could strengthen bullish momentum further.

However, traders should also watch broader market conditions closely.

The reaction to the latest US inflation data and Bitcoin’s ability to hold its own support levels may continue to influence sentiment across the altcoin market.

Bitcoin BTC$62,749.82 consolidated following Monday’s selloff, trading at $62,600 after tumbling from $64,400 to $61,800 over the course of 24 hours.

Ether (ETH) tracked the larger cryptocurrency, trading in a relatively tight $1,770-$1,790 range. Trading volume across ETH pairs increased by 2.2% to $8.95 billion over the past 24 hours, suggesting a healthy balance of buyers and sellers rather than opposed to apathy.

Lighter (LIT) rebounded from Monday’s downturn, rising by 5.7% since midnight UTC as it looks to stage another rally following a 200% surge since May.

U.S. equities were mixed, with Nasdaq 100 index futures adding 0.31% while S&P 500 index futures fell by 0.12%, reflecting uncertainty after U.S. President Donald Trump said Iran would be hit by “very heavy” strikes on Tuesday.

Gold extended its decline from January’s record high to languish around $4,020 per ounce, falling about 28% since Jan. 29.

Derivatives positioning

• Bitcoin derivatives positioning remains broadly unchanged. Open interest (OI) held at $17.1 billion; the three-month annualized basis stayed at 3.8%; and annualized funding rates ran between 0%–8% across multiple venues — with Bybit’s earlier negative outlier now brought into line.
• No meaningful leverage was added in either direction, and no stress signals emerged in the funding structure.
• Options positioning remains call-biased, but continues to moderate. The 24-hour call/put ratio sits at 58/42, softer than yesterday’s 64/36, and the one-week delta skew has compressed further to ~15% from 26% a week ago.
• The at-the-money term structure stays in contango (front end ~31–32%, long end ~43%), and Deribit’s implied volatility index, DVOL, at 37.43 is near multiyear lows. Low-stress, mild call bias, but the options premium is quietly fading.
• Coinglass data shows $283 million in 24-hour liquidations, with a 74-26 split between longs and shorts. BTC ($66 million) and ETH ($50 million) were the leaders in terms of notional liquidations.
• The Binance liquidation heatmap indicates $61,300 as a core liquidation level to monitor in the event of a price drop.

Token talk

• Ethena (ENA) mirrored LIT’s surge on Tuesday, rising by 5.7% to lead the altcoin market. Unlike LIT, however, ENA is in a deep downtrend dating back to September, since when it has lost more than 90% of its value.
• There were also encouraging signs in the AI sector on Tuesday, with NEAR rising 3.3% and FET gaining 1.7%.
• JUP and WLFI continued to show weakness amid dwindling trading volume, falling by 1.5% and 0.5%, respectively.
• CoinMarketCap’s “Altcoin Season” indicator paints a more positive picture with a reading of 54/100. It spent most of June below 50/100.
• One potentially bullish driver of altcoin price action could be the deep selloff in South Korea’s stock market. The benchmark KOSPI index has dropped 10% since Friday, leading to an inverse correlation with the country’s crypto exchanges.
• Wu Blockchain reported that Upbit trading volume surged by 1,426% following KOSPI’s plight, indicating a potential unwind of the machine chip trade that saw investors ditch crypto at the tail end of last year.

Bitcoin is currently down roughly 50% from its October 2025 all-time high of approximately $124,000. Trading near $62,000, it has spent the past five months grinding sideways between $60,000 and $80,000, leaving the market in a state of apathy.

But a closely watched onchain metric suggests this quiet period may be setting the stage for a significant move.

Glassnode’s RHODL Ratio, which compares the wealth held by long-term holders with that of newer market participants, reached 6.5 in early July, its second-highest reading in Bitcoin’s history. It has since begun to decline and is now below 6. Crucially, this compression is occurring while the price stagnates, rather than collapses.

In 2022, the ratio rolled over alongside a violent selloff. The collapse of FTX sent Bitcoin tumbling to around $15,000. The situation in 2026 looks different. Bitcoin continues to trade near $60,000, while coins change hands without signs of panic.

This suggests a gradual transfer of supply from long-term holders, many of whom accumulated throughout 2023 and 2024, to a new cohort of buyers who view current prices as a discount.

South Korea has reaffirmed plans to expand its blockchain and digital asset sector in the second half of 2026, pairing new blockchain initiatives with legislation for stablecoins, tokenized government bonds, and spot crypto ETFs.

South Korea’s Ministry of Economy and Finance said after Monday’s State Council meeting that blockchain development will remain part of the country’s economic growth strategy, even as artificial intelligence receives more policy attention.

Among the measures outlined for the second half of the year, the ministry said it will support large-scale blockchain pilot projects and encourage new technologies to improve the country’s digital asset ecosystem. The plan also includes moving ahead with the proposed Digital Asset Basic Act, which is expected to establish a legal framework for digital assets, including business conduct rules and standards for Korean won-pegged stablecoins.

Alongside the legislation, authorities said they will create a legal foundation for cross-border stablecoin transactions and back amendments to the Capital Markets Act that would allow South Korea to launch its first spot cryptocurrency exchange-traded funds.

Tokenized bonds and blockchain infrastructure move forward

As part of efforts to expand blockchain use in financial infrastructure, the ministry said a pilot programme for tokenized government bonds linked to an institutional central bank digital currency project will begin in 2027. The Bank of Korea will also study how the CBDC can interoperate with other blockchain networks.

The latest roadmap builds on earlier government-backed blockchain projects already under development. Earlier this month, Gyeonggi Province confirmed an eight-month proof-of-concept programme that will begin in August to test a blockchain-based stablecoin for regional currency and government payments.

According to blockchain media outlet NexBlock, the pilot is being led by blockchain security company ZKrypto and will run until February 2027. During its first stage, the project will test stablecoin issuance, circulation and settlement before later evaluating fraud prevention, privacy protections and public benefit payments. ZKrypto said the system will use zero-knowledge proofs to prevent double spending while proof-of-reserves technology will verify reserve assets throughout the trial.

The ministry also said it will examine ways to manage and trade Global Voluntary Carbon Market credits on blockchain platforms in cooperation with international organisations.

AI receives larger share of government investment

While blockchain remains part of the country’s digital economy plans, the government’s second-half strategy places stronger emphasis on artificial intelligence.

The ministry designated physical AI, AI data centres, and semiconductors as South Korea’s three national “Mega Projects.” Under the plan, the government will invest 800 trillion won (about $535.6 billion) to build semiconductor fabrication facilities in the country’s southwest, creating a second manufacturing base alongside existing plants in the capital region.

Officials also said memory chip production capacity is expected to double within five years. At the same time, South Korea plans to establish a global AI hub to attract international organisations and multilateral development banks while expanding large-scale AI data centre infrastructure.

The roadmap keeps blockchain development on the government’s agenda through new legislation, financial infrastructure pilots and tokenisation projects, while placing larger public investment behind the country’s AI and semiconductor industries.

EUR/GBP has slid to its weakest level in a year, as the two currencies continue to follow increasingly divergent paths. The ECB’s June hike—its first since 2023—was meant to signal renewed hawkishness, but the very next inflation print undercut that narrative: price growth cooled from 3.2% to 2.8%, enough for markets to now assign an 88% probability that policymakers will simply hold steady at their July 23 meeting. In other words, the euro’s tightening story may already be running out of road.

The pound, by contrast, is benefiting from a rare double tailwind. Domestically, much of the political uncertainty that had weighed on sterling appears to be fading as investors look past recent leadership turmoil, while falling mortgage rates and a sharp drop in diesel prices are easing cost-of-living pressure at home. On the policy side, traders are increasingly convinced the Bank of England still has room to hike before year-end, with odds now sitting near 76%—a stark contrast to the ECB’s apparent pause.

Put simply, the euro’s hawkish window looks to be closing, while the pound is gaining traction on two fronts at once. That divergence is exactly what’s driving EUR/GBP toward these lows—and it’s worth asking how much further it can run.

EUR/GBP Technical Analysis

As the H4 chart shows, prices spent months trading lower from the April highs. In mid-June,  the pair broke above the descending trendline. Since then, that same trendline has flipped into support, and price now appears to be testing it again from above.

Bullish Scenario

Adding weight to this reading is a bullish RSI divergence: while price printed a fresh low in early July, the RSI itself formed a higher low, hinting at fading downside momentum beneath the surface. If buyers step in and defend the reclaimed trendline along with the 0.8500 psychological zone, this divergence could gain real technical credibility. It would open the door for a corrective bounce with scope to extend meaningfully higher towards the former support, now resistance, near the 0.8600 zone. There, price could face an important test. A break above this level could open the way towards the 0.8680–0.8700 zone, a historic equilibrium area for the pair.

Bearish Scenario

However, if sellers manage to push back through this trendline, decisively flipping it back into resistance, the bullish divergence would quickly lose much of its relevance and credibility. In that case, the focus would shift immediately to the psychological 0.8500 support. A confirmed break below it could signal that the broader downtrend remains firmly intact, likely triggering a fresh leg lower and exposing the pair to new multi-month lows last seen over a year ago.

With price balanced right on this reclaimed trendline, and momentum quietly diverging from price, EUR/GBP’s next move could prove decisive either way.

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A solo Bitcoin miner used a Bitaxe device to mine Bitcoin block 957,382 and claim 3.1382 BTC, worth about $200,000. The machine reportedly ran for eight hours through Public Pool before submitting the winning share.

The payout included the 3.125 BTC block subsidy and about 0.0132 BTC in transaction fees. Public Pool called it the second block found by a single Bitaxe through its hosted service. Blockchain records confirm block 957,382.