Crypto markets may still be buffeted by macro news and uneven regulatory signals, but tokenization continues to look like the sector’s most durable theme. This week’s developments underscored that shift: Binance Research data points to accelerating demand for tokenized real-world assets (RWAs), while Kraken expanded tokenized access to SpaceX’s IPO via its xStocks platform.

Beyond tokenization, blockchain activity is also evolving. Prediction markets have now outpaced onchain gambling by volume for the first time, according to TRM Labs, and former FTX CEO Sam Bankman-Fried has filed a formal request for a U.S. presidential pardon.

Key takeaways

• Binance Research reports active tokenized RWAs rose 589% since early 2025, with tokenized bonds and money market funds adding $6.5 billion and tokenized stocks up 422%.
• Kraken says eligible users in more than 110 markets can access the SpaceX IPO through xStocks, receiving an allocation that maps 1:1 to tokenized shares.
• TRM Labs data shows prediction markets generated $36.6 billion in Q1 2026 volume versus $14 billion for onchain gambling—an inflection point after both surpassed $50 billion annually in 2025.
• Sam Bankman-Fried has formally applied for a presidential pardon through the U.S. DOJ Office of the Pardon Attorney, alongside ongoing appeals tied to his 2023 fraud conviction.

Tokenized RWAs keep expanding as asset mix broadens

Even as the broader crypto tape has been less cooperative, tokenized RWAs have continued to gain traction. According to Cointelegraph’s coverage citing Binance Research, the market for active tokenized RWAs has climbed 589% since early 2025.

Within that growth, Binance Research highlights meaningful contributions from multiple asset classes. Tokenized bonds and money market funds accounted for $6.5 billion in added value, while tokenized stocks increased by 422%. The message for investors is straightforward: tokenization demand is not confined to a single category—it’s spreading across products that resemble traditional fixed income and equity exposures.

The sector’s expansion also appears to be getting more diversified in terms of what investors can access. Platforms such as Ondo Global Markets have contributed to momentum in tokenized equities, while tokenized precious metals reportedly added $1.5 billion amid earlier demand for safe-haven exposure.

Meanwhile, traditional market infrastructure is also moving deeper into blockchain-related initiatives. Developments range from Apex Group’s tokenized fund services to The Clearing House’s planned tokenized deposit network, reflecting a wider industry push beyond purely crypto-native experiments. While these efforts differ in execution and maturity, taken together they point to a broader acceptance of tokenization as an infrastructure direction—not just an asset-narrative fad.

Kraken brings SpaceX IPO exposure to xStocks users in 110+ markets

One of the most immediate real-world catalysts this week came from Kraken, which rolled out tokenized access to the SpaceX IPO for eligible customers through its xStocks product. Cointelegraph previously reported on Kraken’s plan to provide access in more than 110 markets.

Kraken states that investors who received an allocation will be issued SPCXx, a tokenized representation backed 1:1 by the underlying equity. The exchange also says SPCXx can be traded 24/7 across participating platforms—an operational detail that matters for users comparing tokenized IPO access with traditional allocation and settlement timelines.

The rollout is also arriving at a moment when tokenized equities are benefiting from IPO-level demand. SpaceX reportedly targeted a $75 billion raise in its Nasdaq debut, and the offering was reported as oversubscribed by roughly four times ahead of public trading. If realized, this would align SpaceX with the “high-interest” characteristics that often draw participation into new issuance formats—whether through conventional retail channels or tokenized access.

For investors, the practical question is not only whether tokenization enables broader access, but also how liquidity and trading behavior work after allocation. Kraken’s promise of 24/7 tradability could be a differentiator, but market participants will still want to watch custody, trading venues, and how post-IPO pricing converges with the underlying shares across platforms.

Prediction markets overtake onchain gambling in Q1 2026

While tokenization expands into markets that look increasingly like traditional finance, speculative activity is also shifting. TRM Labs data shows that prediction markets surpassed onchain gambling for the first time in the first quarter of 2026.

According to Cointelegraph’s coverage of TRM Labs, prediction markets recorded $36.6 billion in volume in Q1 2026, compared with gambling’s $14 billion. The milestone follows a period where both categories exceeded $50 billion in annual volume in 2025, reinforcing that this is not a one-off seasonal swing.

Importantly, onchain gambling has not stalled. TRM Labs attributes gambling’s resilience to a loyal and growing user base, with quarterly wagering volume remaining near record highs despite broader market pullbacks. High rollers still dominate betting volume—TRM notes that these users averaged $13,558 per bet and $378,000 in lifetime gambling volume—yet the fastest growth is reportedly coming from casual bettors and daily participants, suggesting an opening of the market beyond a narrow set of whales.

For builders and traders, this change in relative volume has implications for product focus and liquidity. Prediction markets may increasingly attract more capital flow, but gambling’s continued user expansion implies both segments are likely to remain competitive. Watching which category sustains growth once the initial attention cycle fades will be key to understanding where the next wave of onchain engagement concentrates.

Sam Bankman-Fried files pardon request as appeals continue

Legal processes remain a live variable for crypto’s mainstream narrative. Former FTX CEO Sam Bankman-Fried has formally applied for a presidential pardon from U.S. President Donald Trump, according to reporting that ties the request to the U.S. Department of Justice Office of the Pardon Attorney.

The request appears on the DOJ’s Office of the Pardon Attorney’s list of pending clemency applications. The pardon effort is occurring alongside ongoing legal attempts to overturn his conviction—Bankman-Fried continues to appeal his 2023 fraud conviction and the 25-year prison sentence, while an additional request for a new trial was denied per Cointelegraph’s coverage.

Separately, recent months have also seen Bankman-Fried posting messages that appear increasingly aligned with Trump, even though the president has previously said he did not plan to pardon him. That tension highlights why the next steps matter: a pardon request may keep the issue in public view, but it does not change the underlying posture of an active appeal process.

Readers should watch how the DOJ process proceeds and whether any legal updates arrive that alter the timeline. In the meantime, the broader crypto industry will likely continue treating executive-level legal outcomes as an important—if unpredictable—risk factor for regulatory and reputational dynamics.

Cathie Wood’s ARK Invest purchased roughly $444 million worth of SpaceX shares on June 12 while reducing its exposure to Advanced Micro Devices, making one of its biggest portfolio shifts as Elon Musk’s rocket company began trading on public markets.

According to data compiled by ARK Invest Tracker, the investment firm acquired a total of 3,291,184 SpaceX shares across its ARKK, ARKQ, ARKW, and ARKX exchange-traded funds. The purchases were valued at approximately $444.3 million.

The largest allocation came through the ARKK Innovation ETF, which bought 1.69 million shares. ARKQ added 736,442 shares, while ARKW and ARKX purchased 325,562 and 538,341 shares, respectively.

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At the same time, ARK trimmed its position in AMD by selling 80,536 shares across ARKQ, ARKW, and ARKX. The transaction was valued at roughly $39.3 million and continued a broader reduction in the semiconductor company’s weighting within ARK’s portfolios.

ARK’s aggressive purchase came as investors rushed into SpaceX during its first day as a publicly traded company.

As reported by crypto.news earlier, the company priced its IPO at $135 per share, implying a valuation of roughly $1.77 trillion. Shares climbed as high as $176.52 during their first trading session before closing at $160.95, giving the company a market capitalization above $2.1 trillion.

The rally also pushed Elon Musk’s net worth above the $1 trillion mark, making him the world’s first trillionaire according to multiple wealth estimates published following the debut.

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ARK increased its SpaceX exposure after years of backing Musk’s company

ARK’s latest purchase builds on a relationship that began well before SpaceX entered public markets. The investment firm first gained exposure to the company through its ARK Venture Fund in 2023, allowing investors to participate in the aerospace company’s growth while it remained private.

According to ARK data, SpaceX represented 11.38% of the ARK Venture Fund’s net assets as of May 31, making it the fund’s largest holding. Earlier in the year, the position accounted for 17.02% of net assets, indicating that the fund’s weighting has fluctuated over time as valuations and portfolio allocations changed.

Wood has remained one of Musk’s most vocal supporters. Earlier this month, she told Fox Business that “SpaceX has a 10-year lead on any other company,” reflecting ARK’s view that the company maintains a significant competitive advantage in both space transportation and satellite communications.

ARK’s valuation outlook remains above the IPO level

The SpaceX purchase follows a week of heavy portfolio rebalancing at ARK. Company records show the firm sold nearly 10 million shares across 20 companies before Friday’s purchase, with total sales estimated at up to $279 million. Much of that activity occurred on Thursday, when ARK disposed of roughly $234 million worth of stocks, including positions in Teradyne, Twist Bioscience, Iridium Communications, Robinhood, and Roku.

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ARK’s long-term forecasts suggest the firm believes SpaceX can continue growing despite its already massive valuation. The company’s internal models project a base-case enterprise value of approximately $2.5 trillion by 2030, while its bull-case scenario reaches around $3.1 trillion. Even ARK’s bear-case estimate stands at roughly $1.7 trillion, close to SpaceX’s IPO valuation.

Wall Street remains divided on the stock’s prospects. Some analysts have published targets as high as $190 per share, arguing that investors are valuing SpaceX as a combination of aerospace, satellite internet, defense, and artificial intelligence businesses. Others have suggested the stock could eventually retreat toward $63 if future growth falls short of expectations embedded in its post-IPO valuation.

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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Key Highlights

• HYPE token advanced more than 7% over 24 hours, reaching the $60–$61 range while Bitcoin remained relatively stable
• Kalshi introduced CFTC-regulated perpetual futures for HYPE on June 12, 2026, enabling U.S. retail access
• BitMEX founder Arthur Hayes criticized the SpaceX IPO as a “classic crypto grift,” suggesting insider selling could begin in July
• Open interest in HYPE futures surged to $2.56 billion, surpassing XRP’s $2.48 billion
• Technical analysis shows a falling wedge breakout suggesting potential upside toward $77.8

Hyperliquid (HYPE) recorded gains exceeding 7% during the 24-hour period ending June 12, 2026, with prices hovering between $60 and $61 as Bitcoin maintained stability above $63,000 and Ethereum traded around $1,600.

Throughout the previous 30 days, HYPE has registered approximately 50% in gains, bolstered by increasing trading activity and expanding platform usage.

This week’s price movement stemmed from two significant catalysts. Kalshi unveiled CFTC-regulated perpetual futures contracts for HYPE on June 12, establishing a compliant pathway for American traders to access the token.

Additionally, market participants flooded into Hyperliquid’s synthetic SPCX perpetual contract to secure SpaceX exposure before its anticipated public offering. The implied valuations in that market exceeded the IPO pricing, attracting substantial speculative interest.

Crypto analyst Altcoin Sherpa revealed a long position in HYPE ahead of SpaceX’s market debut, highlighting that the event might generate “a ton of volume” and increase awareness of Hyperliquid’s trading venues.

Former BitMEX CEO Arthur Hayes characterized the SpaceX IPO as a “classic crypto grift,” cautioning that early stakeholders might offload shares onto retail investors beginning in July. His remarks intensified speculation surrounding Hyperliquid’s SPCX perpetual contract.

Separately, Fomo rolled out perpetual trading functionality on Hyperliquid and Trade.xyz infrastructure, allowing users to trade equities, pre-IPO shares, cryptocurrencies, indices, and commodities through one unified platform.

HYPE Open Interest Overtakes XRP

Open interest for HYPE futures contracts increased 6.3% within 24 hours, reaching $2.56 billion and moving ahead of XRP’s $2.48 billion following a more modest 2% daily increase.

Daily trading volume expanded 1.71% to $3.89 billion. The simultaneous rise in both open interest and volume indicates fresh positions entering the market rather than simple position rollovers.

The Hyperliquid platform handled approximately $10.4 billion in perpetual futures volume during the past 24 hours. Its fee-based buyback mechanism channels a portion of protocol earnings and at minimum 90% of USDC yield toward HYPE token purchases from the open market.

Technical Analysis: Bullish Pattern Eyes $77.8

Examining the 4-hour timeframe, HYPE escaped from a multi-week falling wedge pattern that developed following the token’s all-time peak near $75.5 in early June. The breakout occurred near the wedge’s upper trendline, with support maintaining around the $54–$55 zone.

The technical pattern’s measured projection suggests approximately 20% upside potential from the breakout area, establishing a price objective around $77.8.

The 4-hour MACD indicator generated a bullish crossover signal, while the RSI climbed back above the 50 midpoint level. On the daily timeframe, HYPE is challenging the 0.618 Fibonacci retracement at $61.39. Breaking through that level exposes the subsequent resistance zone at $67.69.

The Supertrend indicator remains positioned near $74.3, suggesting the longer-term bullish trend hasn’t fully established confirmation.

Concentrated short liquidation zones between $61.5 and $63 visible on the CoinGlass heatmap may serve as price magnets should bullish momentum persist.

Zimbabwe has placed cryptocurrency firms under Reserve Bank of Zimbabwe oversight through new anti-money laundering rules.

Statutory Instrument 99 of 2026 places crypto businesses under the RBZ unit that handles financial crime controls. The rules require firms that buy, sell, transfer, or store digital assets to register as VASPs.

Crypto firms must register as VASPs

The new framework gives Zimbabwe a formal rulebook for virtual asset service providers. It covers commercial firms that help customers access, move, hold, or exchange digital assets. The government introduced the regime after years of legal uncertainty in the crypto sector. 

In 2018, the central bank ordered banks to stop processing crypto-related transactions. The latest rules end that gap by creating a direct registration process. Crypto companies now need legal recognition before they operate in the domestic market.

According to one report, Zimbabwe wants to avoid the Financial Action Task Force grey list. The report linked the rules to anti-money laundering and financial crime compliance. Techzim described the move as a regulatory message to global watchdogs. “A big part of S.I.99 is really Zimbabwe showing its homework to the world,” Techzim reported.

Compliance rules add banking-style demands

The regulations place crypto operators under compliance demands similar to those in commercial banking. Digital asset firms must create a legally registered domestic subsidiary. The statutory instrument also sets an annual registration fee of $500. 

Directors must clear background checks before their firms receive approval. The rules require crypto companies to implement the travel rule. That requirement makes firms collect and share transaction data during qualifying asset transfers.

The framework focuses on financial crime controls rather than crypto adoption as legal tender. Techzim reported that the rules do not give sovereign endorsement to cryptocurrencies. The RBZ anti-money laundering arm will oversee the registered entities under the new regime. The rules therefore, connect crypto activity with existing national financial surveillance systems.

Smart contract control triggers compliance

The statutory instrument uses a technology-neutral approach for digital finance activities. It states that decentralization alone does not remove legal responsibility from operators. Organizations that can alter smart contracts meet the control test under the rules. Firms that route funds or set transaction fees also meet that compliance threshold.

This approach brings some decentralized finance structures into the regulatory perimeter. It focuses on control over systems, rather than labels used by crypto projects. Local fintech startups may face higher operating costs under the new requirements. 

However, supporters of the rules say clear guidelines reduce the risk of sudden regulatory action. The legislation now gives Zimbabwe a formal registration path for crypto businesses. It also gives the RBZ direct oversight over companies that handle digital asset services.

Key Highlights

• Bitcoin surged past the $64,000 threshold following statements from Iran’s Foreign Minister indicating unprecedented progress toward a peace agreement with the United States.
• U.S. Vice President J.D. Vance corroborated reports that an accord is imminent, catalyzing further momentum in digital asset markets.
• The leading cryptocurrency began the trading week at $60,804 and temporarily fell beneath $60,000—a level not seen since November 2024.
• The Securities and Exchange Commission granted approval for NYSE Arca to list the T. Rowe Price Active Crypto ETF.
• Market analyst Ted Pillows forecasts BTC may decline to $50,000 before staging a substantial recovery toward $100,000.

Bitcoin has recovered to trade above $64,000 as optimism surrounding a potential diplomatic agreement between the United States and Iran bolstered appetite for risk-sensitive assets globally. The premier digital currency experienced significant volatility throughout the week before finishing with strong gains.

The cryptocurrency commenced the week trading at $60,804, having declined from elevated levels due to escalating geopolitical tensions across the Middle East, increasing crude oil valuations, and persistent inflation concerns that could maintain elevated interest rates. During this period, BTC briefly traded below the $60,000 mark for the first time since November 2024.

The reversal in market sentiment occurred when American government representatives indicated meaningful advancement toward finalizing an agreement with Iran. President Trump announced that a deal was within reach and suspended previously scheduled military operations against Iran. He further stated that both nations would jointly announce the location and timing for a formal signing ceremony.

Bitcoin advanced beyond $63,000 in response to Trump’s announcement, then gained additional momentum following confirmation from Iran’s Foreign Minister Abbas Araghchi.

Araghchi indicated that the Islamabad Memorandum of Understanding “has never been closer” to realization, while cautioning media outlets against speculating about specific terms before official publication.

Cryptocurrency market observer Ted Pillows offered his perspective on X, referencing historical pricing trends. He observed that BTC typically traded 10–20% beneath the 300-week exponential moving average prior to establishing a market bottom in previous cycles, and anticipates a comparable pattern currently—suggesting a potential floor around $50,000 before a substantial advance toward $100,000.

Cryptocurrency Markets Rally as International Tensions Subside

U.S. Vice President J.D. Vance likewise verified that an agreement is approaching finalization, while simultaneously dispelling circulating misinformation. He clarified that Iran would not receive direct monetary transfers and emphasized that no frozen assets would be released merely through signing the document.

“This agreement possesses the capability to fundamentally transform the region and establish enduring peace,” Vance declared.

Notwithstanding the encouraging rhetoric from both governments, decentralized prediction platform Polymarket currently assigns only a 37% probability to a permanent agreement being executed by June 30, with a 46% likelihood for completion at a subsequent date. Market participants remain cautious about fully incorporating a successful deal into asset valuations.

Bitcoin received additional support from the impressive Nasdaq introduction of SpaceX. The aerospace company founded by Elon Musk saw its shares appreciate approximately 19% during initial trading, generating positive momentum for growth-focused investments across multiple sectors.

Regulatory Approval Granted for Novel Crypto ETF

The Securities and Exchange Commission authorized NYSE Arca’s application to list the T. Rowe Price Active Crypto ETF. This actively managed investment vehicle will maintain the flexibility to allocate capital across multiple digital assets including Bitcoin, Ether, XRP, Solana, and Dogecoin.

This development represents continued progress in the proliferation of regulated cryptocurrency investment instruments available to American investors.

In related corporate news, Strategy—which maintains the largest institutional Bitcoin holdings—revealed it liquidated 32 BTC for approximately $2.5 million during the period spanning May 26 through May 31. The proceeds were allocated to fund dividend obligations on its preferred equity securities, representing a minimal portion of its comprehensive digital asset portfolio.

Spot Bitcoin exchange-traded funds have experienced consistent capital withdrawals in recent periods. Bitcoin is presently valued at approximately $63,814, remaining roughly 50% beneath its October 2025 all-time peak of $126,000.

You know the trade: pick an asset, pick a price level, pick a deadline. If BTC closes above $70,000 by Friday at noon, you take a fixed payout. If not, you lose your stake. Crypto binary options are familiar to anyone who has traded options on a CEX or TradFi derivatives desk. The problem is finding that instrument on-chain. Decentralized exchanges do spot and perpetuals. Prediction market platforms do event outcomes. Nobody built the decentralized binary options layer. SeerDEX did.

The Gap Crypto Derivatives Traders Know Well

Polymarket and Kalshi dominate on-chain event trading, but both offer prediction markets, not binary options. A prediction market is where YES/NO shares price implied probability and settle at $1 or $0 on a real-world outcome. That’s a different instrument. A binary option bets on a price level by a deadline, not on an event’s implied probability.

Kalshi operates under US regulation, which limits what it can list and who can use it. Polymarket has no native token and is working toward a token generation event (TGE) expected in Q4 2026. Neither offers crypto binary options. For that instrument, derivatives traders still need a separate CEX account, with all the custody risk and centralized control that comes with it.

What SeerDEX Offers: Three Instruments, One Platform

SeerDEX combines prediction markets, crypto binary options, and perpetuals in one app, with one token: $SEERX (ERC-20 on Ethereum), bridgeable to Solana and other supported networks. Perpetuals are planned for Phase 5 and are not currently live. Traders enter the presale ETH, BNB, or card; purchases up to $1,000 don’t require KYC.

Markets are permissionless: any user can propose and launch a binary option or prediction market by staking $SEERX. An AI engine screens each proposal for clarity and oracle-resolvability before it goes on-chain. Settlement draws on a multi-oracle system — Chainlink, Pyth, and UMA — so no single data source controls the outcome. The $SEERX token contract has been audited by CredShields with zero critical or high-severity issues; a platform audit is planned pre-mainnet.

How Do Crypto Binary Options Work on SeerDEX?

A binary option on SeerDEX works like this: will BTC exceed $70,000 by Friday at 12:00 UTC? Traders take a YES or NO position. If BTC closes above that level at expiry, YES positions pay out; if not, NO positions win. Unlike perpetuals, there’s no funding rate and no liquidation. The payoff is binary.

Chainlink, Pyth, and UMA all verify the outcome independently before payouts go out on-chain.

$SEERX Tokenomics and Presale Structure

The $SEERX presale is a multi-stage sale opening at $0.00050 (Stage 1), with price stepping up with each new stage. Presale allocation: 8 billion tokens (40% of the 20 billion total supply).

Token distribution: 24% project development, 15% ecosystem, 15% liquidity, 6% staking. Staking rewards release at 2% of supply per year over three years. The protocol routes 40% of all trading fees into $SEERX buybacks. Bonus tokens scale by purchase size: +10% at $1,000, +20% at $2,000, +30% at $5,000.

What Does the $SEERX Presale ROI Look Like?

A $1,000 entry at Stage 1 ($0.00050) buys 2,000,000 $SEERX. The Stage 1 purchase bonus (+10% on $1,000 entries) lifts that to 2,200,000 $SEERX. This is not an exchange-listing guarantee or a post-launch price prediction. Analysts suggest early presale buyers could see meaningful upside if the platform attracts users after launch, but returns are not guaranteed. Early buyers lock in the lowest available entry; later buyers pay more for the same tokens.

How to Buy $SEERX

Go to seerdex.com and connect a compatible wallet. The presale accepts ETH, BNB, and card payments. Purchases up to $1,000 don’t require KYC. Select your amount, confirm the transaction, and $SEERX arrives in your wallet. The current stage price is valid only until the next stage opens.

About SeerDEX: SeerDEX is a Solana-native trading platform combining prediction markets, binary options, and perpetuals in a single ecosystem. Powered by an AI governance engine for permissionless market creation, $SEERX is issued on Ethereum as an ERC-20 token and is multichain by design — bridgeable to Solana and other supported networks so holders can use it wherever they trade. The platform accepts ETH, BNB, and card payments (up to $1,000 without KYC). Website: https://seerdex.com/ | Twitter/X: @seerdexmarkets | Telegram: @seerdexofficial

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Key Takeaways

• XRP maintains position above $1.14 after touching $1.05 during the latest market-wide selloff
• Technical indicators reveal bullish RSI divergence, with market analysts eyeing $1.30 as the next significant level
• Derivatives market activity has cooled, with Futures Open Interest declining from $2.96 billion to $2.45 billion since early June
• XRP ETF activity shows inconsistent patterns, recording no inflows on Thursday despite earlier weekly gains; total cumulative inflows reach $1.43 billion
• Price action remains constrained below all primary moving averages, with the 50-day EMA positioned near $1.30 serving as critical overhead resistance

Ripple’s native digital asset is currently changing hands near $1.14 following a rebound from its June bottom at $1.05. The recent downturn eliminated stop-loss orders and cleared out overleveraged positions before demand reemerged in the market.

CryptoPulse, a prominent market technician, characterized the price action as a “capitulation flush,” noting that the breach of $1.13 support represented a needed cleansing event before any meaningful upward movement could materialize.

The subsequent bounce has highlighted an emerging technical formation on the Relative Strength Index. Despite price action establishing a lower low, the RSI registered a higher low — creating a bullish divergence pattern that indicates weakening downside momentum.

Derivative Markets and ETF Activity Show Weakness

Futures Open Interest stood at an average of $2.96 billion at the beginning of June but has contracted to $2.45 billion. This contraction signals diminished participation from speculators and reflects waning conviction in an imminent upward move.

Spot ETF activity for XRP has displayed irregular patterns. Capital inflows reached $7.44 million on Tuesday and $1.2 million on Wednesday, yet Thursday recorded zero movement. Total ETF inflows currently total $1.43 billion, while net assets under management sit at $985 million.

ChartNerd, a technical analyst, identified an important development on the bi-weekly timeframe. Price has retraced to the lower regression band of the Gaussian Channel around $1.04, a threshold that has emerged at comparable junctures during previous cycles. ChartNerd labeled this zone as “the land of macro opportunity” and noted this pattern has reliably repeated throughout earlier market phases.

Technical Resistance Levels Create Overhead Pressure

XRP continues to trade beneath its 10-day, 50-day, 100-day, and 200-day exponential moving averages. The 50-day EMA hovers around $1.30, coinciding with the significant resistance threshold that market participants are monitoring closely.

The 100-day EMA is positioned near $1.39, whereas the 200-day EMA rests around $1.61. These price points create an extensive overhead supply region that must be overcome for any durable uptrend to establish itself.

The RSI (14) currently registers 35.10, hovering above oversold conditions but moving closer to that threshold. The MACD indicator remains marginally negative at -0.06656. The Momentum (10) indicator has recently generated a Buy signal, potentially suggesting that near-term selling pressure is diminishing.

TradingView’s composite technical assessment stands at Neutral, incorporating 14 Sell indicators, 10 Neutral readings, and only 2 Buy signals.

From an Elliott Wave perspective, analysts suggest XRP could be finalizing a Wave (2) correction as part of a broader Cycle Wave V pattern. The identified accumulation range spans between the 50% and 61.8% Fibonacci retracement levels, approximately $1.19 to $0.91. Market technicians assign a 65-70% probability that the larger bullish framework remains valid.

At press time, XRP was trading around $1.14, reflecting a 3.06% gain over the preceding 24-hour period.

Standard Chartered has kept its $100,000 Bitcoin target and $4,000 Ethereum target after the selloff.

Standard Chartered digital-assets research head Geoffrey Kendrick said the drop likely set the cycle bottom in his latest note. Bitcoin fell toward $59,000 before rebounding near $63,500, while Ethereum traded near $1,665.

Bitcoin’s price target stays at $100,000

Kendrick described the $59,000 Bitcoin move as the “likely low” for the current cycle. He kept the bank’s $100,000 year-end Bitcoin target after the rebound toward $63,500. His note framed the latest move as the end of crypto winter. It did not treat the drop as the start of another breakdown.

Kendrick tied the selling pressure to forced selling, weak ETF flows, and liquidity stress. He said those factors had caused the deepest damage during the drawdown. The bank’s call extends its earlier bullish Bitcoin view after a sharp decline.

Bitcoin trades far below Standard Chartered’s target, despite its recovery from $59,000. Kendrick’s call depends on stronger confirmation from ETF flows and institutional demand. The note kept its focus on price levels, flows, and treasury demand.

Bitcoin ETF flows and SpaceX liquidity stay in focus

Spot Bitcoin ETF redemptions remain a central test for Kendrick’s bottom call. Market context showed U.S. funds saw heavy outflows during the selloff. Those redemptions weakened the institutional bid that supported Bitcoin earlier. Kendrick said consistent inflows would support his recovery thesis.

The liquidity picture also includes the SpaceX IPO window, according to Kendrick’s note. He cited cash demand around the listing as pressure on risk assets. Crypto markets tracked SPCX trading on Nasdaq after SpaceX’s $75 billion IPO, according to related context. 

Synthetic SpaceX-linked markets drew crypto-native volume during the same period. Strategy remains a demand factor in Bitcoin’s short-term market setup. Market participants tracked whether Michael Saylor’s company would keep absorbing Bitcoin supply.

Ethereum’s target remains at $4,000

Kendrick also kept his $4,000 Ethereum target and expects ETH to outperform Bitcoin. Ethereum traded near $1,665, well below that target. Standard Chartered’s existing Ethereum thesis links ETH demand to stablecoins, tokenized assets, and onchain settlement. 

The bank has argued that Ethereum network use remains stronger than price action. Ethereum’s recent weakness kept the ETH/BTC ratio under pressure. Kendrick said a ratio rebound would show renewed investor demand for Ethereum exposure.

The note placed Ethereum’s path beside Bitcoin’s ETF flow test. It also kept institutional demand and macro stress in view as market confirmation points. Kendrick listed several markers for the next market stage. They include Bitcoin holding $59,000, ETF inflows returning, Strategy demand stabilizing, and Ethereum regaining relative strength.

Key Takeaways

• Ethereum currently sits around $1,670, posting a modest 1% gain over the past day while maintaining bearish technical signals
• Technical analysis reveals a bear flag formation constraining upside potential below the $1,700 threshold
• Bulls need a decisive move above $1,700 to target $1,850–$1,900; downside breakdown could revisit $1,500
• Approximately 500,000 ETH tokens valued at roughly $800 million exited centralized exchanges in the past week
• Spot Ethereum ETF products recorded $16 million in net redemptions on Thursday, marking the third consecutive session of outflows

Ethereum’s price action reveals tentative stabilization following recent declines, though bearish momentum continues to dominate the technical landscape. The second-largest cryptocurrency by market capitalization currently hovers around $1,670, registering slight positive movement of approximately 1% in the 24-hour window.

This marginal uptick follows substantial losses that began in mid-May, fueled predominantly by escalating geopolitical tensions and broader macroeconomic headwinds. The current bounce appears tentative and lacks the conviction needed for a sustained reversal.

Market technician Ted highlighted that ETH remains confined within a bear flag configuration. This particular chart pattern traditionally indicates additional downward pressure unless price action decisively escapes the formation’s boundaries.

For Ethereum to fundamentally alter its trajectory, a convincing daily close above the $1,700 resistance zone becomes essential. Successfully clearing this technical hurdle could unleash momentum toward the $1,850–$1,900 price range.

Should resistance at $1,700 prove insurmountable, the probability of renewed downside increases substantially. Under such circumstances, traders would likely refocus attention on the $1,500 support threshold.

Significant Exchange Outflows Suggest Potential Accumulation Phase

Cryptocurrency analyst Ali Charts highlighted via social media platform X that approximately 500,000 ETH tokens — representing roughly $800 million in value — departed centralized trading venues during the previous seven-day period. Substantial token migrations away from exchanges frequently suggest investors are transferring holdings into self-custody solutions, which market participants often interpret as preparatory accumulation behavior.

Blockchain metrics provide additional perspective on current market dynamics. Active Ethereum wallet addresses declined to approximately 480,000 on Thursday, retreating from 554,000 in recent sessions and substantially below the 738,000 figure recorded in late April.

Declining network participation during attempted price recoveries indicates the rally lacks widespread engagement across the user base. Such divergences between price and fundamental activity metrics frequently precede correctional moves.

Investment Product Redemptions Compound Selling Pressure

Ethereum-focused exchange-traded fund products have experienced three consecutive sessions of net capital withdrawals. Thursday’s redemptions totaled $16 million, following $41 million and $36 million in outflows on Tuesday and Wednesday respectively.

Derivatives market indicators similarly reflect cautious positioning. Aggregate open interest across Ethereum futures contracts contracted to $22.98 billion on Friday, down sharply from $30.95 billion recorded at June’s beginning.

The Moving Average Convergence Divergence indicator registers approximately -138.24, positioned beneath its signal line at -130.37, confirming sellers maintain market control. Meanwhile, the Relative Strength Index hovers marginally above 30, indicating the asset approaches oversold conditions without yet confirming directional reversal.

ETH currently trades substantially below its 50-day, 100-day, and 200-day exponential moving averages positioned at $2,000, $2,148, and $2,405 respectively. These technical levels constitute formidable overhead resistance barriers.

The most current pricing data places ETH at $1,688, remaining constrained beneath the pivotal $1,700 level with no confirmed bullish reversal signal evident on daily timeframe charts.