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Will XRP Dethrone Ethereum To Lead This Altcoin Season?
The fast rise of XRP’s popularity and its place as a top 5 cryptocurrency has seen it emerge as a major competitor for Ethereum. Ethereum, the second-largest cryptocurrency in the industry and the largest altcoin, has always led the way for an altcoin season when it begins to outperform Bitcoin. However, it seems the tides may be turning as one crypto analyst has suggested that XRP could be the altcoin to lead the next altcoin season ahead of Ethereum.
Altcoin Season Is Coming As XRP Takes LeadAccording to crypto analyst Cyptoinsightuk, there are a number of developments that point at a possible altcoin season being on the horizon. The first of these is the performance of Bitcoin as it continues to rally ahead of the rest of the crypto market. So far, with the volume rising, the leading cryptocurrency has been pushing toward new all-time highs.
The next step from here is that the Bitcoin price does push upwards into areas with denser liquidity, which could trigger a renewed rally. In the charts shared, this area of dense liquidity is placed at $114,000, reaching which would mean a new all-time high for the Bitcoin price and a continued rise in the dominance before it tops. Once a top is reached on the Bitcoin dominance chart, the altcoin season is expected to start in full bloom.
Instead of Ethereum being expected to lead the start of the altcoin season, the crypto analyst points to how the XRP price has often reacted to moves like this in the past. Notably, despite the Bitcoin price leading the market into deep losses, the XRP price has refused to break below the $2 support.
The range that has plagued the altcoin began back in 2024 and has been around for six months. Previously, when the XRP price has ranged this much, it has often ended in a breakout, similar to what was seen back in October 2024.
Cryptoinsightuk explains that if Bitcoin is able to break out of this range, then it would be the catalyst for the XRP price to take off. Furthermore, the market has now plunged toward what the analyst refers to as the “Previous Alt Season Start Point”, suggesting a reset that could mean the start of the next altcoin season is around the corner.
The crypto analyst also pointed out the fact that there have been weeks of bearish divergence on the Bitcoin dominance chart. Given this, they believe the dominance will begin to fall soon and will do so quickly. In this case, the prices of altcoins like XRP are expected to rip higher, bringing in the next altcoin season. “Just to put things into context of how mental alt coins could go, the “XRP Move” box looks like just a blip, this equated to a 462% rise in $XRP price,” the analyst said.
Минюст США обвинил четырех северокорейцев в краже криптовалют на $1 млн
Bank Of Korea Halts CBDC Project As Lawmakers Focus On Stablecoin Regulation
The Bank of Korea (BOK) has reportedly halted its Central Bank Digital Currency (CBDC) project following the South Korean government’s focus on stablecoins. The shift has left project participants with “no long-term roadmap” and banks pivoting to this sector.
BOK Suspends Second Phase Of CBDC TestingOn Sunday, local news outlet Yonhap News Agency reported that the Bank of Korea had notified banks participating in the Han River Project that the second phase of CBDC testing would be suspended.
The BOK and seven banks began the first phase of testing in April, targeting 100,000 financial consumers and planning to complete it by June 30. Originally, the project was scheduled to start its second phase at the end of the year, testing peer-to-peer transfers, expanding payment merchant locations, and simplifying authentication methods.
However, banks reportedly raised concerns about the “excessive cost burden without concrete plans for commercialization,” leading to the project’s pause. Notably, the banking sector is bearing the cost of the project and recently demanded that the Bank of Korea provide a clear long-term roadmap with plans for commercialization.
Banks requested the BOK to “establish a ‘CBDC General User Real-Transaction Test Task Force’ involving all relevant departments of the Bank of Korea and banks to develop a long-term roadmap including post-test commercialization plans, and then realistically adjust the project schedule based on this roadmap.”
As a result, the BOK has concluded that it must clarify its internal stance and schedule regarding digital assets, as stablecoin momentum grows and discussions in the National Assembly and the private sector intensify.
According to a senior official at a commercial bank, the Bank of Korea explained that it would “wait and see how the situation develops, given that the legalization of stablecoins is currently underway, while it is unclear how CBDC, stablecoins, and deposit tokens differ and can coexist.”
Similarly, another senior official affirmed that the atmosphere is shifting toward stablecoins, detailing that “Until the dinner meeting between Bank of Korea Governor Lee Chang-yong and bank presidents on the 23rd, the atmosphere was not like this, but the situation has changed significantly since then.”
Nonetheless, the Han River Project could be reconsidered in 2026, according to another bank official, who claimed that the Bank of Korea mentioned the possibility of revisiting CBDC testing and “pushing forward with it around the first half of next year.”
Banks Prepare For Stablecoin LegislationFollowing this development, banks participating in the CBDC project are expected to shift to stablecoin issuance as related legislation gains support, preparing for issuance with other banks or non-bank entities.
At the start of the month, a member of South Korea’s ruling party, Min Byeong-deok, introduced a comprehensive bill to establish a more structured regulatory framework for crypto assets in the country.
As reported by Bitcoinist, the Democratic Party of Korea (DPK) lawmaker proposed the Digital Assets Basic Act to complement the Virtual Asset Investor Protection Act and offer a broader legal foundation for the industry. Additionally, it focuses on implementing a licensing system for stablecoin issuers and clear rules.
The banking sector is considering a business model in which banks establish a joint venture to collectively issue stablecoins, while contacting various non-bank companies to prepare for the legalization and issuance of stablecoins.
A bank official affirmed that “It is unclear whether banks or big tech (large IT companies) and fintech (financial technology companies) will be the issuers of stablecoins,” adding that they “have no choice but to prepare for both scenarios before legalization.”
Another bank official stated that it is necessary to collaborate with fintech companies for scalability, explaining that banks are “not only discussing stablecoins with the Bank of Korea and other banks, but also meeting regularly with ‘payment’ companies, cryptocurrency exchanges, and blockchain companies to prepare for the issuance of stablecoins.”
Circle Moves To Establish National Trust Bank In US Following $18 Billion IPO
Circle (CRCL), issuer of the market’s second largest stablecoin, USDC, is applying to establish a national trust bank in the United States. This announcement follows Circle’s recent Initital Public Offering (IPO), which valued the company at nearly $18 billion.
Circle Seeks OCC ApprovalIf approved by the US Office of the Comptroller of the Currency (OCC), the new entity, named First National Digital Currency Bank, N.A., will allow Circle to serve as a custodian for its reserves and manage crypto assets on behalf of institutional clients.
Circle’s CEO, Jeremy Allaire, emphasized the company’s commitment to trust, transparency, and compliance during an interview with Reuters. He stated, “Becoming a publicly traded company is a significant part of that, and becoming a national trust company is again a continuation of that.”
Unlike traditional banks, this new charter will not permit the stablecoin issuer to accept cash deposits or issue loans, marking a distinct approach to banking within the digital asset space.
Currently, Circle’s reserves are managed at BNY Mellon and BlackRock, backed by a mix of short-term Treasury bills, cash, and other liquid assets. The proposed national trust bank would primarily focus on custody services for tokenized assets, such as stocks and bonds, rather than traditional cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
Upcoming Stablecoin LegislationThis initiative comes at a crucial time as Congress moves closer to enacting a federal regulatory framework for stablecoins. The recently passed stablecoin bill, the GENIUS Act, mandates that stablecoins be backed by liquid assets and requires issuers to disclose their reserve compositions monthly.
With the House of Representatives poised to vote on the legislation soon, and US President Donald Trump expected to sign it into law, the regulatory environment for stablecoins is on the verge of significant change.
Allaire remarked on the transformative potential of this regulatory shift, stating, “We’re going from the early-adopter phase of this technology into the mainstream.”
He expressed optimism that securing approval for the national trust charter would provide a solid foundation for institutions to build upon, further legitimizing the role of stablecoins in the financial ecosystem.
CRCL Closes At $180Per the report, Wall Street’s initial response to Circle’s growth has been largely positive, with several major brokerages, including Barclays and Bernstein, issuing “buy” ratings and setting price targets above $200 for the company’s stock.
However, some analysts have expressed caution regarding the stock’s valuation, which has more than doubled since its market debut. As of press time, CRCL closed Monday’s trading session at $180, representing a nearly 40% drop from its $299 record achieved last week.
Allaire concluded by highlighting Circle’s approach in aligning with emerging US regulations. He noted that the establishment of a national digital currency trust bank represents a significant milestone in the quest to create a transparent, efficient, and accessible internet financial system.
Featured image from DALL-E, chart from TradingView.com
Мошенники начали предлагать россиянам помощь с регистрацией на биржах Binance, Bybit и Huobi
First-Ever Solana Staking-Enabled ETF Launches Tomorrow: New Crypto Snorter Token ($SNORT) Rally Imminent?
The first-ever staking-enabled Solana ETF in the U.S. is set to launch tomorrow, July 2nd, marking a major milestone for institutional adoption of Solana ($SOL).
The announcement has already sparked market momentum, with $SOL surging over the past 24 hours to a high of $159.24, signaling growing investor confidence ahead of the ETF debut.
The excitement could also spill over into crypto presales like Snorter Token ($SNORT), a native Ethereum token that features a bridge to Solana, potentially gaining traction as interest in Solana-based assets heats up.
Rex-Osprey Solana ETF Effectively Approved, More ETFs Coming SoonREX Shares announced on X today that the ‘first-ever staking crypto ETF in the US’ is coming on Wednesday. This will provide investors with direct exposure to $SOL while also offering staking rewards.
In May, the company, along with Osprey Funds, sent a proposal to the SEC for a Solana and an Ethereum ETF with staking rewards.
Rex-Osprey received a response on Friday with the SEC providing no further comments. This effectively approves the organization’s application.
Aside from Rex-Osprey, there are at least nine other similar filings at the SEC. If approved, these should drive up Solana’s value even further.
$SOL Goes Up with the Rex-Osprey Solana ETF NewsSolana’s native token saw a flurry of activity in the past 24 hours, thanks to the news. It’s been up by 0.84% during the period and around 2% in the last seven days.
Launched in 2020, Solana has been the unofficial home of the best meme coins with its low transaction fees and high throughput.
Get Ready for the New Wave of Meme Coins with Snorter Token ($SNORT)With increased interest in Solana could come an influx of new meme coins. This should make finding legitimate and promising coins even more challenging.
Snorter Bot can help you sniff out the top new cryptocurrencies well ahead of other bots and whales.
As a Telegram-native trading bot, it lets you do everything within the popular messaging app. You don’t need to juggle wallets or install different browser extensions.
With Snorter Bot, you can create or import your wallet with a single tap.
Plus, you can perform automated token sniping, set limit orders and dynamic stop-loss, copy trades, and manage your portfolio all within Snorter Bot.
Another important feature is the honeypot and scam protection. With the number and speed of token launches on any given day, it’s difficult to check what’s real and what’s a scam. The bot has got your back covered.
All these get better when you hold its native Snorter Token ($SNORT). You’ll unlock 0.85% fees, unlimited snipes, analytics, staking rewards, governance rights, and even community incentives.
$SNORT is currently available for $0.0967 each at its official presale page.
To buy tokens, connect your crypto wallet like Best Wallet, enter how many tokens you want to purchase, and pay with your debit/credit card, $SOL, $ETH, $USDT, or $USDC.
For step-by-step instructions on how to get $SNORT, you can check out our Snorter Token buying guide.
The project also offers staking rewards, which are currently at 241% p.a. Alternatively, you can HODL as $SNORT could reach as high as $3.25 according to our Snorter Token price prediction.
Solana ETFs Bode Well for the Market and New CryptocurrenciesThe SEC’s approval of Rex-Osprey’s Solana ETF application marks a new chapter in the US’s increasing acceptance of cryptocurrencies and related projects.
This is a huge plus for new crypto like Snorter Token ($SNORT), which will make it easier for investors to find the best presales to put their money into.
If you’re considering buying $SNORT and other crypto, be sure to do your research first. This is not financial advice.
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