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Crypto World

XRP Price Loses Key Support: The Drawdown May Not Be Over Yet

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xrp logo

XRP price is bleeding. The token is changing hands at $1.21–$1.24 as it losses 2% today, and the weekly chart looks worse, down 7%.

The selloff accelerated since earlier this week, extending a downtrend that began mid-May when XRP peaked at $1.55. Since that local top, the token has sliced through a critical support zone and hit its lowest price since February.

All the above put the cumulative drawdown at over 66% from its all-time high last year. However, the drop is broad-based: total crypto market cap has collapsed from above $4 trillion to just $2.4 trillion as most altcoins are down double digits alongside XRP.

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But it just seems unusual for XRP. Spot XRP ETFs pulled in over $131 million in May alone, their strongest monthly performance this year, while Ripple’s RLUSD stablecoin now carries over $1.8 billion in AUM and $22 billion in 30-day volume. Strong fundamentals, weak price.

Discover: The Best Crypto to Diversify Your Portfolio

Can XRP Price Recover to $1.50? Realistically

XRP price broke support and has not reclaimed it. The key level to watch is the $1.20 zone, which served as consolidation support through much of Q1. A confirmed daily close below that figure would open a path toward $1.00–$1.05, a range last tested in late 2024.

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On the upside, the former support around $1.40–$1.45 now acts as resistance; reclaiming that level would be the minimum requirement for any credible bull case.

Xrp (XRP)
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Three scenarios frame the near-term path. If ETF inflows accelerate, sentiment flips, and XRP reclaims $1.40 within two weeks, XRP price might finally recover. Or it grinds sideways between $1.20 and $1.35 as the market stabilizes.

Now the ugly scenario. If the $1.20 floor cracks and momentum sellers pile in, the token might retest sub-$1.10 levels. The momentum indicators currently favor the bear range.

Ripple’s regulatory wins, licenses secured in the UK, Australia, and the EU, plus a $50 billion company valuation, provide a long-term floor under sentiment. AI-driven price models remain bullish on a 12-month horizon, but near-term technicals suggest caution.

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Discover: The Best Token Presales

LiquidChain Targets Early Mover Upside as XRP Tests Key Levels

When a major-cap asset like XRP sheds 12% in a week despite institutional ETF demand, the message is clear: size does not guarantee safety in this cycle. Rotating into earlier-stage infrastructure plays before institutional price discovery begins is a strategy worth examining.

LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as the cross-chain liquidity layer for the next cycle. Its core proposition is straightforward: fuse Bitcoin, Ethereum, and Solana liquidity into a single execution environment, so developers deploy once and access all three ecosystems simultaneously.

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The architecture includes a Unified Liquidity Layer, Single-Step Execution, Verifiable Settlement, and a Deploy-Once Architecture designed to eliminate the fragmentation that currently makes cross-chain development painful and expensive.

The presale is live at $0.01466 per $LIQUID, with $820K to date.

For those researching the space, the full LiquidChain presale details are here.

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Tom Lee’s Bitmine (BMNR) to offer preferred stock with 9.5%, following Strategy’s playbook

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ETH may lose its biggest buyer as Bitmine mulls slowing down purchases

BitMine Immersion Technologies (BMNR), an Ethereum treasury company led by Fundstrat co-founder Tom Lee, is borrowing a page from Strategy’s financing playbook and launching a $300 million preferred stock offering as crypto treasury firms search for new ways to secure funding.

According to a Wednesday filing with the U.S. Securities and Exchange Commission (SEC), the company is offering 3 million shares of its Series A Perpetual Preferred Stock at a stated value of $100 per share. The securities carry a 9.5% annual dividend rate, with dividends paid weekly in cash if declared by the company’s board.

The preferred shares will be listed on the New York Stock Exchange (NYSE) under the ticker BMNP, subject to approval, BitMine said.

The offering comes as digital asset treasury firms, recently under pressure from the downturn in crypto prices, explore new funding sources. Strategy (MSTR), the largest corporate holder of bitcoin, introduced various classes of preferred equities. Bitcoin treasury peers Strive (ASST) and Metaplanet also issued dividend-paying preferred stocks.

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Bitmine is aiming to bring that playbook to its Ethereum treasury strategy, according to the filing.

The firm has been among the most aggressive buyers in the sector, accumulating more than 5.3 million ETH worth roughly $10 billion and controlling about 4.5% of Ethereum’s circulating supply over the past year. That ETH bet is currently sitting at an estimated $9 billion unrealized loss as ETH prices fell below $1,800 from around $5,000 in October.

Bitmine’s preferred stock can be redeemed by the company at premiums ranging from 10% to 0% depending on when the redemption occurs. Holders will also have repurchase rights if certain fundamental corporate changes occur. The filing did not specify how BitMine intends to use the proceeds.

The timing is notable given the growing pressure on Strategy’s preferred equity funding model. The firm’s STRC preferred stock fell 5% below its $100 par value on Wednesday as investors debate whether the company can comfortably maintain its dividend payments while bitcoin prices slide.

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LIBRA probe stalls after crypto tracking software free trial expires

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LIBRA probe stalls after crypto tracking software free trial expires

Politicians in Argentina have called for the government agency probing the LIBRA scandal to be handed more resources after it was discovered that its free crypto tracking software has expired and not been renewed.

According to La Nación, four parliamentarians who originally contributed to a LIBRA investigative committee have called for Argentina’s Attorney General, Eduardo Casal, to allocate more resources to the Specialized Cybercrime Prosecutor’s Unit (UFECI).

This is upon the discovery that the UFECI is lacking the resources and technical licenses to carry out its LIBRA cryptocurrency tracing. 

When federal prosecutor Eduardo Taiano called for the UFECI investigation, the body was able to trace 74 digital wallets collectively buying $13 million worth of LIBRA before the token’s promotion by Argentine President Javier Milei. 

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Read more: US judge won’t restrict LIBRA funds as new trust site emerges

However, La Nación sources claim that the UFECI was dependent on a free trial for its LIBRA tracing that has since expired and not been renewed.

The investigatory body revealed the issue eight months after Taiano called for the probe. 

Sources claimed that the Attorney General’s Office was working on restoring the software license, but that there has been a significant “budget cut” and still no renewal of any subscription.

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Expired software casts doubt over LIBRA probe’s efficiency

Parliamentarians Maximiliano Ferraro, Mónica Frade, Sabrina Selva, and Juan Marino, subsequently warned that a lack of resources “would pose a serious obstacle to clarifying the facts under investigation and could result in an effective denial of justice.”

On X, Civic Coalition ARI leader Ferraro criticised Taiano’s approach to the agency’s delays and claimed that they will lead to “impunity.” 

Read more: Javier Milei disbands crypto unit he set up to investigate himself

He said today, “Taiano has known that the UFECI cannot carry out the expert analyses he himself ordered on the crypto wallets linked to the $LIBRQ case due to a lack of resources and technological tools.”

He added that the probe’s slow pace, “with no interrogations, no witness testimonies, with delayed evidentiary measures and unfinished expert reports,” is making it “easier for potential defendants to coordinate stories, hide information, alter records or relevant evidence.”

Ferraro, Frade, Selva, and Marino joined four other politicians last April in accusing Taiano of misconduct and an unjustified “sequence of delays.”

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Earlier this year, a report led by the Public Prosecutor’s Office discovered confidential blockchain advisory draft agreements between Libra co-creator Hayden Davis and Milei. 

Last December, a US judge refused to bar millions of LIBRA-linked funds from anonymization and conversion into privacy-focused cryptocurrencies. 

Minutes before this hearing took place, the Libra Trust website went live. Blockworks researcher Fernando Molina noted that the site was created five days after a prior freezing order was lifted, and once redirected users to a “pure nudism” blog.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Crypto Platform 1win Welcomes Ilia Topuria as the 1win VIP Community Member

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[PRESS RELEASE – Mexico City, Mexico, June 3rd, 2026]

The international crypto entertainment platform 1win has announced the addition of Ilia Topuria to its VIP community. The signing of the contract with the fighter became publicly known on June 2, 2026.

Topuria becomes a new member of the global 1win VIP Community, the brand’s exclusive project that brings together prominent figures from sports, music, and entertainment industries. One of the most dominant fighters of his generation, Topuria remains undefeated with a professional MMA record of 17 wins and 0 losses. His excellence in sport will become a unique asset and source of inspiration for other 1win members.

The collaboration between a globally recognized brand and one of MMA’s most unstoppable fighters promises exclusive moments for fans, a closer look into the lifestyle of a true 1win VIP member, and a wave of premium entertaining content for international audiences. The expansion of the project highlights the international scale of the initiative and further strengthens 1win’s position as a brand operating at the intersection of sports, digital culture, and entertainment. Previously, famous rapper Tyga had also joined the VIP community.

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On June 14, Topuria takes part in one of the year’s most highly anticipated fights – UFC Freedom 250 – a bout against Justin Gaethje that will take place during the UFC tournament at the White House. The upcoming fight has already generated significant attention from the MMA community and sports media worldwide.

1win is also widely known for its collaborations with MMA representatives and professionals in the sports industry. The brand’s ambassadors include legendary UFC fighter Jon Jones, Olympic champion and UFC fighter Gable Steveson, and Latin American athlete Ignacio Bahamondes.

About 1win

Founded in 2016, 1win is a crypto-focused platform in the global gaming industry. Operating across Asia, Latin America, and Africa, 1win offers a wide range of entertainment products adapted to regional audiences. The brand has active collaborations with international public figures, including actor Johnny Sins, martial artist Jon Jones, and Olympic champion and UFC fighter Gable Steveson. In 2026, 1win welcomed American rapper Tyga as a new member of the 1win VIP community.

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US Sanctions Iran’s Largest Crypto Exchange Nobitex in Major ‘Economic Fury’ Crackdown

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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Nobitex, Iran’s largest digital asset exchange, along with three other Iranian crypto exchanges. The move is part of the Donald Trump administration’s Economic Fury campaign aimed at increasing economic pressure on Tehran.

The Treasury’s sanctions apply to Nobitex, Wallex, Bitpin, and Ramzinex. US officials allege that these exchanges helped users bypass sanctions, facilitated financial activity connected to Iran, and processed transactions linked to the Islamic Revolutionary Guard Corps (IRGC).

Terror Finance and Sanctions Evasion Risks

In an official statement this week, Treasury Secretary Scott Bessent claimed that Iran has increasingly used digital asset technologies to advance its “corrupt agenda,” including circumventing sanctions and transferring wealth outside the country. He added that Treasury would continue tracking financial activity through both traditional banking channels and digital assets as part of the administration’s broader effort to prevent Iran from developing a nuclear weapon.

According to Treasury, Nobitex processed more than 50% of all Iranian digital asset inflows in 2025 and played a central role in the country’s crypto ecosystem. The agency alleged that the exchange facilitated payments linked to Iran’s terrorist activities, sanctions evasion efforts, and IRGC-related transactions, including activity involving IRGC-affiliated ransomware actors. Treasury also accused Nobitex of helping the Central Bank of Iran access hundreds of millions of dollars in stablecoins used to support the Iranian rial and enabling regime insiders to access international crypto exchanges across multiple jurisdictions.

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Treasury said Nobitex helped protect and move assets out of the country despite internet blackouts from the very start of the war. In addition to sanctioning the exchange, OFAC designated Amir Hossein Rad, Nobitex’s chairman, co-founder, and former CEO, along with several other company leaders and officials.

According to their findings, Rad helped restore Nobitex’s operations after the platform suffered a $90 million hack in June 2025.

The agency also sanctioned Nobitex co-founders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, both members of the Kharrazi family, which Treasury described as part of Supreme Leader Mojtaba Khamenei’s inner circle. Current Nobitex CEO Seyed Ali Khoee was also designated.

Wallex, Bitpin, and Ramzinex Also Targeted

Meanwhile, Wallex, identified as Iran’s second-largest digital asset exchange by volume, was said to have received 12% of Iranian digital asset inflows in 2025 and allegedly facilitated transactions linked to the IRGC. Bitpin accounted for 10% of Iranian digital asset inflows in 2025 and processed millions of dollars in transactions, including transfers allegedly connected to the IRGC, while some of its investors have reportedly been linked to efforts to evade US sanctions.

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Ramzinex, a Tehran-based exchange founded in 2018, has processed more than $2.45 billion in transactions and allegedly facilitated transactions linked to the IRGC and an Iranian government-backed financial institution.

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ETH falling below $1,800 leaves Tom Lee’s Bitmine (BMNR) with $8.9 billion paper loss

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Bitmine ether (ETH) holdings and estimated unrealized losses (DropsTab)

Bitmine Immersion Technologies (BMNR), the largest corporate holder of ether (ETH), is staring at nearly $9 billion in losses as the token’s slide below $1,800 drags down the value of its massive treasury.

Shares of the Tom Lee-chaired company fell another 5.9% Wednesday, slipping below $17 and extending their decline to 28% since early May. The stock has now dropped below its February lows to its weakest level since the company announced its pivot to an Ethereum treasury strategy in 2025.

The selloff comes as ETH retests its February lows. The second-largest cryptocurrency has lost more than 20% since early May, when Lee, Fundstrat’s co-founder and BitMine’s chairman, argued that the market’s “mini crypto winter” had likely ended and a new “crypto spring” had begun.

Under Lee’s leadership, Bitmine has amassed more than 5.4 million ETH, or roughly 4.5% of Ethereum’s circulating supply, in roughly a year. That position is worth about $10 billion at current prices.

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Those holdings, however, are now deeply underwater, carrying an estimated $8.9 billion in unrealized losses, according to data collected by DropsTab.

Bitmine ether (ETH) holdings and estimated unrealized losses (DropsTab)

Digital asset treasuries under pressure

Bitmine’s drawdown highlights renewed pressure across the digital asset treasury sector, where companies seek to replicate the playbook pioneered by Michael Saylor’s MicroStrategy (MSTR): raise capital through public markets and use the proceeds to accumulate crypto.

That model has become increasingly harder to sustain as crypto prices weakened and many treasury stocks drifted below the value of their underlying assets.

Strategy itself recently disclosed its first bitcoin sale since 2022, sparking debate about how the company might fund future obligations tied to its preferred stock offerings.

Read more: Saylor’s Strategy sold bitcoin for the first time since 2022. These firms are still buying

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Bitmine’s situation differs in some key respects. The company financed its ether purchases primarily through equity issuance rather than debt, leaving it without the leverage concerns and interest payments that some treasury peers face.

The company also generates revenue from staking its ETH and operating its staking service MAVAN. Bitmine said it has staked more than 4.7 million ETH — about 87% of its holdings — and recently estimated annualized staking revenue at roughly $276 million.

Lee calls for $250,000 ETH

The recent price action has not tempered Lee’s long-term outlook.

Speaking at the Proof of Talk conference in Paris earlier this week, he said ETH could eventually reach $250,000 as tokenization, AI-driven transactions and corporate staking reshape Ethereum’s role in the global financial system.

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For now, investors appear focused on a more immediate reality. Ether is back near levels last seen during February’s selloff, leaving Bitmine’s treasury deep underwater and highlighting the gap between Lee’s long-term thesis and the market’s current view of the asset.

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Binance Reveals Alpaca Revenue Split Behind Stock Push

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Binance Reveals Alpaca Revenue Split Behind Stock Push

Binance disclosed a revenue-sharing arrangement with custodian and brokerage infrastructure API provider Alpaca, which has become a major infrastructure provider in the custody of tokenized US stocks and exchange-traded funds (ETFs).

Under Binance Securities Trading Terms published Tuesday, Binance will receive 50% of Alpaca’s payment-for-order-flow fees and 65% of remaining profit from user stock lending after users are paid interest, Binance will receive 50% of Alpaca’s payment-for-order-flow, or PFOF, fees and 65% of profit from user stock lending after the platform pays user interest.

Alpaca provides brokerage, clearing and custody infrastructure for Binance’s stock trading product and is also a major infrastructure provider in tokenized US stocks and ETFs. The company raised $150 million at an $1.15 billion valuation for its brokerage infrastructure in January.

The disclosure shows how Binance may monetize its push beyond crypto after launching access to more than 7,000 US-listed stocks and ETFs and previewing a later tokenized stock product called bStocks.

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Cointelegraph contacted Binance for comment on the arrangement and asked whether it holds a minority stake in Alpaca.

Binance Securities Trading Terms for tokenized stocks and ETFs, Revenue-Sharing Arrangements. Source: Binance

Alpaca said it held $480 million in assets under custody (AUC) as of December 2025, which represents a 29% market share of the current $1.62 billion value of total tokenized stocks, according to data provider RWA.xyz.

The total value of tokenized stocks rose by around 29% during the past 30 days, while holders rose 35% to 304,700. However, monthly active addresses declined by over 77%, to 31,877, signaling that investors are holding, rather than actively trading, these assets.

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Tokenized stock market total value. Source: RWA.xyz 

Crypto exchanges expand into tokenized US stocks

Other large cryptocurrency exchanges are also expanding their offering to include US stocks and ETFs, responding to the growing investor demand for more accessible blockchain-based trading products.

In April, crypto exchange Bitget launched a proxy offering tied to the pre-initial public offering (IPO) phase of Elon Musk’s aerospace manufacturing and space transportation company, SpaceX, Cointelegraph reported at the time. 

Related: South Korea plans July rules for tokenized securities

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Binance also launched a SpaceX-linked pre-IPO futures product tied to the expected valuation of the company ahead of its public listing, Cointelegraph reported on May 21.

Source: Binance

In January, Vienna-based crypto exchange Bitpanda said it was expanding its offering to include about 10,000 stocks and ETFs.

In April 2025, Kraken launched  11,000 US-listed stocks and ETFs with commission-free trading in an effort to bring “equities and digital assets together” under one trading platform, as part of a “phased national rollout.” 

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3 Trump-Promoted US Stocks to Watch in June

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3 Trump-Promoted US Stocks to Watch in June

Trump-promoted US stocks have been among the most talked-about names on Wall Street this year, and three stand out for traders. One earned a Truth Social post for its war-fighting tech.

Another rode a government stake and a strong quarter. A third got a direct buy-it call at the White House. Here is how each trade is looking as we head deeper into 2026.

Palantir Technologies (NASDAQ: PLTR)

PLTR trades near $142, down 6.5% in the latest session. The pullback interrupts a sharp run that made it one of the standout Trump-promoted US stocks this spring.

Palantir Stock Chart Year-To-Date. Source: Google Finance

Want more insights like this? Sign up for Editor Harsh Notariya’s Daily Newsletter here.

On April 10, Trump posted on Truth Social that Palantir had proven great war-fighting capabilities. The stock was near its April low of around $122 at the time. Since then, it has rebounded about 33%.

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Note: Palantir makes AI software rather than weapons, but its platforms power the US military and intelligence work.

That bounce has not broken the broader downtrend. PLTR still trades inside a falling channel, a downward-sloping price range that has held since early November. The structure stays bearish until the price escapes it.

The key levels come from Fibonacci levels, which measure the proportional pullback of a prior move. It runs from the $207 November high to the $122 April low, revealing key levels. PLTR failed to clear $165 on June 1, a key technical level. The real trigger sits at $175, near the channel’s upper boundary.

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A move above it by about 15% would shift the structure from bearish to neutral-bullish.

Palantir Price Analysis
Palantir Price Analysis: TradingView

The bearish case is building too. Selling volume has risen since May 22, and a weak broader market could drag PLTR lower. A drop under $142 would expose the $122 low again.

Above $175 turns the trend, while rising sell volume and a break under $142 keep the bears in control throughout June.

Intel Corporation (NASDAQ: INTC)

INTC trades near $108, down 1.28% in the latest session, though pre-market quotes point higher near $114. The stock is the most policy-linked of the Trump-promoted stocks.

The Trump administration holds a stake in Intel, and that position is up nearly 250% as of late April, per data. Trump has taken public credit for the chipmaker’s surge. The fundamentals backed him up.

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Intel’s Q1 2026 earnings drove a 15% jump, pushing the stock past its August 2000 record high.

That report powered a much larger run. INTC climbed from about $40 in late March to a peak near $133, a gain above 200%. The move formed a bull flag, a pause that follows a sharp rally and often resolves higher.

The recent dip looks like profit-taking. Price slipped from late May into early June, yet volume held steady rather than spiking. That hints sellers are not panicking. INTC now sits near $108, closing in on the $102 base.

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The first hurdle to the upside is $124, where the breakout stalled. A reclaim there opens the path to the $133 peak, again in June, about 24% higher, then $159 and $194.

Intel Price Analysis
Intel Price Analysis: TradingView

The bearish case matters too. A drop under $102 weakens the pattern considerably, and a break under $79 would invalidate it. Hold above $102 and reclaim $124 to keep the flag alive, or lose $102 and risk a slide to $79.

Dell Technologies (NYSE: DELL)

DELL trades near $435, down 6.58% in the latest session after touching a record near $469. It carries the most direct endorsement of the three.

In early May, Trump told a White House crowd to go out and buy a Dell, calling them great. The stock was already climbing, and the comment added fuel. Since late March, DELL has run from about $155 to its $469 peak. It has roughly doubled in the weeks since the direct endorsement.

The move traces a clean pole with the flag (consolidation) expected to form now. This is because the volume faded as the price peaked around May 29, while selling pressure has built since late May. Buyers are stepping back, suggesting a pullback.

The economic anchor is real, as Dell’s AI server demand and a $9.7 billion Pentagon contract back the rally continuation, despite the possible pullback.

Dell Price Analysis
Dell Price Analysis: TradingView

The key levels come from the Fibonacci levels of the run from $155 to $468. A pullback is likely to first test $394, then $349. Holding there would keep the uptrend intact and set up another push. The bearish case builds below.

A drop under $312 toward $275 would signal a deeper unwind. The risk grows if AI server spending cools or the political tailwind fades.

For now, DELL needs a daily close back above $468 to prove the rally still has strength.

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Ethereum Hits 14-Week Low as Traders Defend Critical $1.8K Support

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Ethereum Hits 14-Week Low as Traders Defend Critical $1.8K Support

Ether (ETH) dropped to $1,814 on Wednesday, its lowest in over 14 weeks, raising concerns about whether the ETH/USD pair can stabilize above key liquidity zones near its multi-year lows at $1,800. 

ETH/USD 1-hour chart. Source: Cointelegraph/TradingView

Key takeaways:

  • Ether fell to a 14-week low near $1,800, with traders warning a breakdown could trigger deeper losses toward $1,200-$1,600.
  • The Coinbase Premium Index hit its lowest level since February, signaling persistent weakness in US spot demand.
  • Spot Ethereum ETFs logged sixteen straight days of outflows.

Ether sits on weak support at $1,800

Ether’s technical structure has weakened after losing support at $2,000 and $2,200. Note that all the major moving averages lie within this zone on the daily chart.

Today, ETH traded as low as $1,814 on Bitstamp, while the daily relative strength index (RSI) fell to 25, its lowest level since Feb. 6, highlighting strong downside pressure and oversold conditions. 

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Related: Bitmine buys $52M ETH as Tom Lee says price not yet showing Ethereum’s strength

However, this might also mean that the sellers are losing momentum, suggesting a possible price rebound from current levels, akin to the 39% rebound seen in February.

ETH/USD daily chart. Source: Cointelegraph/TradingView

Traders say Ether’s bullishness hinges on the ETH/USD pair holding above the crucial $1,800 support.

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“$ETH almost tapped the $1,800 level today,” analyst Ted Pillows said in a Wednesday post on X, adding:

“This is the last support zone for Ethereum before new lows.”

An accompanying chart revealed that a break below $1,800 would bring areas below $1,700 into the picture.

ETH/USD daily chart. Source: X/Ted Pillows

Additionally, fellow analyst CrypDoMillions said losing $1,800 would send ETH price lower toward $1,600.

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ETH/USD daily chart. Source: X/CrypDoMillions

Not all traders had confidence in Ether’s ability to remain above $1,800, with analyst BitFrog saying that “$ETH is on life support” at current levels, adding:

“Bulls better wake up fast. $1,800 looks shaky, honestly.”

The Entity-Adjusted UTXO Realized Price Distribution (URPD) metric, showing at which prices the current set of ETH UTXOs were created, shows that ETH trades above a relatively open zone between $1,800 and $1,250, where there’s less demand.

This means ETH may move more into this range if the sell-off continues, with the downside possibly capped at $1,200. This is where investors acquired more than 1.4 million ETH.

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ETH: Entity-Adjusted URPD. Source: Glassnode

Meanwhile, Ether’s cost-basis distribution heatmap shows weak accumulation between $1,200 and $1,800, suggesting a potential pathway toward the lower zone in the short term.

Ether’s Coinbase Premium falls to February levels 

The Ethereum Coinbase Premium Index, which tracks the price difference between ETH on Coinbase and Binance, dropped to -0.16 on May 28, before recovering to -0.13.

A deeply negative premium confirms that the selling pressure is originating from US entities. The last time the metric was this negative was during the early February sell-off when ETH price dropped to multi-year lows at $1,750.

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Historically, extreme negative premiums often coincided with capitulation phases, as seen in April 2025 and during the 2022 bear market.

This implies that as long as US investors sell at a discount compared to the global market, the bears remain in control.

Ethereum Coinbase Premium Index. Source: CryptoQuant

“Coinbase Premium has fallen into a notable discount, signaling potential weakness in spot demand,” crypto investor and trader Thomas The Trader said in an X post on Tuesday.

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“ETH Coinbase Premium just reached its lowest point since February,” analyst Inoms said in a Monday X post, adding:

“The message is clear: US demand is still weak.”

Weak US demand is also evidenced by heavy outflows from US-based spot Ethereum exchange-traded funds (ETFs). These ETFs have posted outflows for sixteen consecutive days, the longest losing streak since March 2025. 

Investors have withdrawn nearly $847.2 million from these investment products over this period, according to data from SoSoValue.

Spot Ethereum ETFs flows chart. Source: SoSoValue

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Coupled with more than $257.3 million in outflows from global Ethereum investment products last week, this points to institutional selling, which will likely continue to put pressure on the price in the near term.

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Ray Dalio Says AI’s Biggest Threat Isn’t What Most People Think

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Ray Dalio Says AI’s Biggest Threat Isn’t What Most People Think

Ray Dalio says the AI bubble will burst, but not because the technology fails. The Bridgewater founder argues the real trigger comes when investors must convert paper wealth into cash.

He made the case in a Bloomberg television interview, saying liquidity demands, not earnings or technology, decide when a bubble finally cracks.

Why Wealth is Not the Same as Money

Dalio draws a sharp line between wealth and money. A startup can reach a billion-dollar valuation after raising only $50 million. That figure counts as wealth, yet nobody can spend it.

Money is what people actually spend. To reach it, holders must sell their wealth first. When wealth grows far faster than the money supply, the financial system turns fragile.

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That gap sits at the heart of why so many billionaires stay bullish on AI while real cash remains scarce. AI firms can mint trillions in valuations without holding the money to back them.

The scale of the spending is large. Bridgewater estimates Alphabet, Amazon, Meta, and Microsoft could invest about $650 billion in AI infrastructure during 2026.

That marks a sharp jump from roughly $410 billion in 2025.

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

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What Could Force the Selling

The pricking starts when holders suddenly need cash, Dalio says. Debt payments, wealth taxes, or fund redemptions can each push large owners to sell at once.

“All great technology changes, produce bubbles. And the reason they produce bubbles is because nobody can get get it exactly right. Okay? There, you have to either spend a ton of money to capture your market share and so on,” Dalio said in the interview.

He ties the risk to a stretched government balance sheet. He notes the United States spends about $7 trillion against only $5 trillion in revenue. That deficit forces more debt into an already strained bond market.

He also pointed to bond market stress as a parallel pressure. Long rates rising relative to short rates often signals trouble, echoing his global monetary order warnings.

Dalio links the same dynamic to a possible world order breakdown and to rising structural inflation risk. His bubble indicators now sit near levels last seen in 2000 and 1929.

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Dalio flags a vulnerable window after the midterm elections and before the presidential vote. Political conflict over taxes could sharpen the pressure then.

Still, he cautioned against panic selling and told investors to brace for lower returns ahead.

A Test for Every Risk Asset

The distinction matters far beyond AI stocks. It reaches every risk asset, from equities to crypto, where Dalio still favors digital gold Bitcoin, or BTC, over cash.

A sudden shock could speed up the reckoning. Dalio warned that a halt in chip exports from Taiwan would crash AI stocks fast.

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Whether the squeeze arrives through taxes, debt, or redemptions may decide how the coming months play out for markets.

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The post Ray Dalio Says AI’s Biggest Threat Isn’t What Most People Think appeared first on BeInCrypto.

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Binance Closes Its Centralized NFT Marketplace, Joining Coinbase, Kraken in CEX-Backed NFT Retreat

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Binance Closes Its Centralized NFT Marketplace, Joining Coinbase, Kraken in CEX-Backed NFT Retreat


Binance, the world's largest crypto exchange by trading volume, will shut its centralized NFT marketplace on July 3 and migrate the service into its self-custody Binance Wallet, the company said in an announcement published Wednesday, closing the last major centralized-exchange NFT venue still… Read the full story at The Defiant

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