Category: Crypto market

Coinbase Unveils Bold Tokenization Plan: Coin Stock Soars 15%, Targets $350 Again

Posted on by Skerdian Meta

Coinbase shares soared after the crypto exchange revealed plans to expand into tokenized equity markets, marking a bold move toward bridging traditional finance and blockchain innovation. Continue reading “Coinbase Unveils Bold Tokenization Plan: Coin Stock Soars 15%, Targets $350 Again” →

Forex Signals Brief June 18: USD Gains, BTC Falls as Traders Eye FOMC and Global Risk

Posted on by Skerdian Meta

With U.S. geopolitical risks escalating and financial markets reacting sharply, attention turns squarely to the Federal Reserve’s upcoming policy stance. Continue reading “Forex Signals Brief June 18: USD Gains, BTC Falls as Traders Eye FOMC and Global Risk” →

SEC Opens Public Review For SOL, XRP ETF

Posted on by Olumide Adesina

The U.S Securities and Exchange Commission opened a public review for Franklin Templeton’s XRP and Solana ETFs, which might be listed on the Chicago Board Options Exchange.

The SEC announced in separate filings on Tuesday that it was initiating procedures that might allow the US exchange to list and trade shares of the Franklin Solana ETF and the Franklin XRP ETF.

The SEC postponed its decision until Tuesday after the Cboe BZX Exchange submitted a proposed rule change to the agency in March to facilitate the approval of these investment vehicles.

“The Commission has not reached any conclusions concerning any of the issues involved,” the SEC stated in both filings, referring to the initiation of proceedings.

The financial regulator invites feedback on the proposed rule change.

The SEC’s notices will effectively extend the review period for the Franklin Templeton ETFs by 35 days, until July.

Several businesses in the crypto industry are competing to be the first to approve tokens like XRP, although the US regulator has already approved spot investment vehicles for Bitcoin.

Many asset managers have already submitted applications to the SEC to list and trade investment vehicles that provide exposure to SOL or XRP, such as Bitwise, ProShares, and 21Shares. The Trump administration and Paul Atkins, the president’s nominee to chair the SEC, have significantly altered the agency’s regulatory approach to digital assets by suspending several high-profile enforcement actions against cryptocurrency companies.

Fartcoin Fights to Keep $1 Mark After Crash

Posted on by Olumide Adesina

Fartcoin’s crash in the past week added a bearish outlook on the meme token. Several technical indicators show a clear bearish turn in momentum.

The momentum indicator points to a dramatic increase in bearish momentum as the RSI at 45 falls below the midpoint and the MACD approaches crossing below its signal line.

The token is currently struggling to stay above $1. If it falls below the psychological support level of $1, the immediate support is at $0.92, which aligns with the low on May 7. Some traders choose to stay out of the market, while others view the current decline as a unique opportunity to purchase.

Though recent losses have positioned Fartcoin among the day’s top losers, savvy investors are still entering the market, and the fuel for its rise may just be beginning as technical indicators turn bullish and rumors about Binance circulate.

The Solana meme token has lost nearly a fifth of its value, indicating a significant shift in momentum.

The recent pullback has put technical pressure on the price, and chart indicators point to a potential trend reversal. The EMA lines in the meme token almost form the death cross, a bearish signal which precedes protracted downtrends.

Future gains are being solidified by a bullish MACD crossover, rising open interest, and a recovery from the psychological $0.7 level, where whale activity peaked. Nowadays, many traders view that level as a starting point for a breakout or a quick shakeout.

The number of active wallet addresses has surged since the listing, with an increase in momentum and trading volume. Real capital inflows and meme coin enthusiasm combine to maintain high social sentiment. However, some hesitation remains

Ripple: SEC appeal delays, Iran-Israel Conflict Burns XRP

Posted on by Olumide Adesina

XRP has fallen 5% over the last three days, indicating a downward trend for the remittance token. The token is currently valued at less than $2, with SEC delays and conflict in the Middle East weighing on the asset.

Geopolitical uncertainty weighed on the digital asset after President Donald Trump demanded Iran’s “unconditional surrender” on Tuesday, as the sixth day of the Iran-Israel air war began.

According to three officials, the US military is increasing the number of fighter planes sent to the area to strengthen its forces.

The bearish configuration of the digital asset’s Exponential Moving Averages (EMAs) suggests downward momentum remains, as the short-term lines are positioned below the long-term ones.

If XRP can initiate an upward trajectory and break through the crucial resistance level at $2.25, the next target of $2.3 may become attainable.

The Securities and Exchange Commission (SEC) recently filed a status report in the Ripple v. SEC case, requesting the appeals court to hold the appeals. An earlier order to hold appeals preceded the filing of the status report following a settlement between the parties in the XRP lawsuit.

 Attorney James K. Filan disclosed that the SEC had asked the US Court of Appeals for the Second Circuit to pause appeals, given the district court’s ongoing motion for an indicative ruling.

The long-running lawsuit will now face further delay from the SEC’s filing of a second status report in the 2 nd Circuit by August 15.  Attorneys expect to hear from Judge Analisa Torres regarding the parties’ request to lift the injunction and reduce the fine to $50 million.

Ripple and the SEC extended their indicative ruling on June 12 to lift the injunction in the Final Judgment and release $50 million from the $125 million civil penalty imposed in the case.

The SEC’s changing position on crypto assets, settlement agreements, and the desire to prevent additional litigation are all grounds for amending a final judgment under Rule 60.

Legal expert Sherrie stated that Judge Torres’s response to the new Indicative Ruling under Rule 60 will influence how swiftly the XRP lawsuit is resolved. ” We might hear back next week, or we might hear back this Thursday,” she continued.

U.S Senate Seals Stablecoin Regulation

Posted on by Olumide Adesina

The Senate passed a bill creating the first federal framework for dollar-backed cryptocurrencies, called stablecoins.

Although the GENIUS Act’s passage in the upper chamber by a vote of 68-30 doesn’t immediately make the new legislation law, it still requires approval from the House and President Trump.

The cryptocurrency community is already applauding the bill’s swift progress as a significant step.

Trump is increasing his financial stake in stablecoins. World Liberty Financial, a new cryptocurrency company supported by President Trump and his sons, has launched its US-dollar-pegged stablecoin in collaboration with BitGo.

Traditional businesses, from large lenders to mega-retailers, are debating whether to issue their coins. If the legislation passes the House, it is expected to unleash a wave of new stablecoin entrants.

Bank of America (BAC) CEO Brian Moynihan stated at a Morgan Stanley conference last week, “We’re working with the industry, working individually.”

Bank of America and other major banks met earlier this month to discuss possibly starting a cooperative stablecoin network. Last week, the Wall Street Journal also revealed that Walmart (WMT) and Amazon (AMZN) are exploring stablecoin opportunities.

The traditional payment system may be eclipsed by this new wave of competition, especially if businesses attempt to bypass established card-based networks like Visa (V) and Mastercard

Forex Signals Brief June 17: Focus Shifts to BoJ and U.S. Retail Sales Besides War Jitters

Posted on by Skerdian Meta

Markets are showing signs of relief as geopolitical anxiety around the Middle East begins to ease, with investors turning their attention to economic data and central bank signals. Continue reading “Forex Signals Brief June 17: Focus Shifts to BoJ and U.S. Retail Sales Besides War Jitters” →

XRP ETF set to List on Canada’s Stock Exchange

Posted on by Olumide Adesina

Purpose Investments is leading the effort to introduce the first-ever XRP ETF on the Toronto Stock Exchange, marking a significant milestone for Canada.

This development provides Canadian investors with a controlled, accessible way to gain exposure to XRP without direct cryptocurrency trading..

 The Purpose XRP ETF will provide a range of ticker options to accommodate varying currency preferences, enhancing investor flexibility. Purpose Investments is launching the first XRP ETF in Canada on the TSX with multiple currency options, allowing investors direct access to XRP.

Canadian investors with brokerage accounts can begin trading the Purpose XRP ETF starting June 18 by searching for the relevant ticker symbols, XRPP, XRPP.B, or XRPP.U on their online trading platforms.

This ETF will hold XRP tokens directly, providing investors access to a regulated financial product on the Toronto Stock Exchange that tracks XRP’s price movements. Unlike traditional cryptocurrency purchases, this ETF offers a well-known investment vehicle that can be accessed through regular brokerage accounts, eliminating the need to navigate cryptocurrency exchanges or manage wallets.

Its performance closely reflects the market value of the underlying asset, as XRP is directly backed by the ETF, providing true exposure to XRP price volatility

ETF: Trump Media plans holding Bitcoin, Ethereum

Posted on by Olumide Adesina

The US Securities and Exchange Commission received a filing from Trump Media, the US President’s affiliated business that operates Truth Social, Truth+, and TruthFi, plans to create a combined exchange-traded fund (ETF) that would track the performance of the two largest cryptocurrencies by market capitalization.

The financial vehicle will hold Bitcoin and Ethereum, with 75% of its AUM allocated to the leading digital asset and 25% to the largest altcoin.

The news release issued by the Trump Media Group today reaffirms earlier rumors that Crypto.com will be the sole custodian of Bitcoin and Ethereum for the ETF. It will also serve as a “prime execution agent, as well as a staking and liquidity provider.”

The ETF sponsored by Yorkville America Digital will be listed on NYSE Arca, pending authorization by the US SEC.

According to the announcement, the proposed ETF is not a “security” because shares “may not be sold, nor may offers to buy be accepted, before the registration statement is made.”

President Trump has adopted a very different stance on the cryptocurrency sector, and one of the businesses associated with him has filed to introduce a joint Bitcoin and Ethereum ETF, marking another step in the direction of the growing pro-digital asset movements.

Circle (CRCL) on Rampage, up 400% since Market Launch

Posted on by Olumide Adesina

Circle (CRCL) surged by nearly 20% on Monday, reaching a new intraday high and extending the stablecoin issuer’s explosive growth following its successful initial public offering earlier this month.

The stock rose to $165 before reversing gains as investor interest in stablecoins, building on Friday’s 25 percent spike, Circle has increased by about 400 percent since its eagerly awaited public market debut on June 5 at $31 per share.

Circle is the issuer of the dollar-backed stablecoin USDC (USDC-USD). By the end of the first quarter, the company’s total amount of tokens in circulation was $60 billion. With almost $150 billion in circulation, Circle is the second-largest stablecoin issuer after Tether.

The Trump administration’s efforts to create a framework supportive of cryptocurrencies, along with the president’s business involvement in the industry, coincide with Circle’s successful initial public offering

Trump Media and Technology Group (DJT) filed with the Securities and Exchange Commission on Monday to introduce an exchange-traded fund that invests in bitcoin (BTC=F) and Ethereum.

 Investors’ excitement is strong as the Senate prepares for a final vote on legislation regulating stablecoins this week. “Stablecoins have brought mainstream attention back to the underlying global rail — the blockchain, and its transformative potential over the long decade,” wrote Gautam Chhugani, an analyst at Bernstein, in a note on Monday. Chhugani anticipates that by the end of this summer, the Stablecoin GENIUS Act will be the first bipartisan bill to be passed.