Category: Crypto market

BTC Crashes to $70K as Strategy Dumps some Bitcoin

Posted on by Olumide Adesina

Bitcoin dropped toward $70,000, and other cryptocurrencies followed suit because of Iranian tensions and Strategy’s Bitcoin sale. The biggest cryptocurrency in the world fell 4.2 percent to $70,587 over the previous day, while Ethereum (ETH) fell 1.1 percent to $1,986.

Solana dropped 2.8%, XRP fell 3.8%, and BNB lost 2.4%. “Crypto declined as U. S. investors abandoned high-beta assets due to concerns about the instability of the Strait of Hormuz, tensions in Iran erupted, causing a risk-off wave. Geopolitical uncertainty increased on Monday after Iran halted talks with the United States

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu had a heated argument about Israel’s plans, despite Trump’s claims that the negotiations were still ongoing. “Talks are continuing, at a rapid pace, with the Islamic Republic of Iran,” Trump stated in a post on Truth Social on Monday.

Strategy’s revelation that it sold 32 BTC for about $2.5 million put additional pressure on market sentiment. Strategy reported that between May 26 and May 31, it sold 32 BTC at an average price of $77,135 per BTC, marking the company’s first bitcoin sale since December 2022.

According to the company, preferred stock distributions are anticipated to be funded by the proceeds of the sale.

Even one of the world’s largest bitcoin treasury companies is coming under pressure from the recent decline in crypto prices, even though the amount of bitcoin sold by Strategy was relatively insignificant.. The size of Strategy’s bitcoin sale was comparatively insignificant, according to Jeff Ko, chief analyst at CoinEx, but “the signal is not.” According to Ko, “the psychological break from that narrative hit retail confidence hard and added a negative layer to an already stressed tape.” The S&P 500 g helped US stocks reach new highs on Monday.

Visa Goes All-In on XRP as Stablecoin Bridge for Worldwide Payments

Posted on by Olumide Adesina

Recent developments involving Visa and XRP-related infrastructure were brought to light by Levi Rietveld, who claimed that the payments giant had made a “crazy” XRP statement.

The increasing volume of transactions involving RLUSD and the wider development of blockchain-based payment systems were major topics of discussion in his remarks.

Citing data from Visa’s blockchain payment operations, Rietveld contended that the numbers show that institutional adoption of digital asset technology is accelerating.

He emphasized the increasing volume of RLUSD on Visa’s platform in particular. He claimed that the stablecoin’s monthly transaction volume had already surpassed $1 billion. Rietveld began by saying that Visa had made a significant announcement regarding XRP and RLUSD activity.

He clarified that Visa manages stablecoin transactions across various networks and payment channels using its own blockchain-related payment infrastructure.

When all major providers and stablecoin ecosystems are taken into account, Rietveld claims that the stablecoin payment industry has grown into a multi-trillion-dollar monthly market.

He maintained that the rise in transaction activity indicates a broader institutional adoption of blockchain payment technology. Additionally, Rietveld linked the development to the XRP Ledger ecosystem, stating that the XRPL is now taking part in what he called a rapidly growing payment environment.

He underlined that the increasing volume of RLUSD has been a part of what he described as a consistent upward trend rather than a transient occurrence. The financial analyst suggested that the Unit’s regulatory developments were based on the Clarity Act

Visa Embraces XRP for Stablecoin-Powered Global Payments

Posted on by Olumide Adesina

Recent developments involving Visa and XRP-related infrastructure were brought to light by Levi Rietveld, who claimed that the payments giant had made a “crazy” XRP statement.

The increasing volume of transactions involving RLUSD and the wider development of blockchain-based payment systems were major topics of discussion in his remarks.

Citing data from Visa’s blockchain payment operations, Rietveld contended that the numbers show that institutional adoption of digital asset technology is accelerating.

He emphasized the increasing volume of RLUSD on Visa’s platform in particular. He claimed that the stablecoin’s monthly transaction volume had already surpassed $1 billion. Rietveld began by saying that Visa had made a significant announcement regarding XRP and RLUSD activity.

He clarified that Visa manages stablecoin transactions across various networks and payment channels using its own blockchain-related payment infrastructure.

When all major providers and stablecoin ecosystems are taken into account, Rietveld claims that the stablecoin payment industry has grown into a multi-trillion-dollar monthly market.

He maintained that the rise in transaction activity indicates a broader institutional adoption of blockchain payment technology. Additionally, Rietveld linked the development to the XRP Ledger ecosystem, stating that the XRPL is now taking part in what he called a rapidly growing payment environment.

He underlined that the increasing volume of RLUSD has been a part of what he described as a consistent upward trend rather than a transient occurrence. The financial analyst suggested that the Unit’s regulatory developments were based on the Clarity Act

Bitcoin Falls Below Key Level as Investors Dump US Spot ETFs

Posted on by Olumide Adesina

Bitcoin dropped to its lowest point in over five weeks due to concerns about the state of the economy and withdrawals from US exchange-traded funds. Bitcoin fell as much as 1.5 percent to $74,017, its lowest level since April 20, while Ether, the second-largest token, dropped more than 2 percent.

Even though stocks have risen to record highs due to optimism about artificial intelligence, investors are unsettled by worries that the ongoing US-Iran war will fuel inflation and lead to interest rate increases. So far in May, net withdrawals from US spot-Bitcoin ETFs have totaled roughly $1.5 billion. According to Sean McNulty, Asia-Pacific derivatives trading lead at FalconX, Bitcoin’s weakness “looks mostly macro-driven, not crypto-specific.”

Financial conditions have tightened due to higher US yields and a stronger dollar, he said. ETF withdrawals and rumors of a sizable block sale of the biggest Bitcoin ETF, the iShares Bitcoin Trust, have also damaged sentiment.

According to Tony Sycamore, an analyst at IG Markets, cryptocurrency traders are becoming more cautious while they await tangible developments from the Middle East. According to Sycamore, “Bitcoin is feeling the pinch as leveraged long positions get trimmed on the break of key support levels in the mid $70,000’s, with equity markets starting to look a little tired.” He added that short-term risks are skewed downward.

Visa Goes All-In on XRP: Stablecoins and the Cross-Border Payments Revolution

Posted on by Olumide Adesina

Recent developments involving Visa and XRP-related infrastructure were brought to light by Levi Rietveld, who claimed that the payments giant had made a “crazy” XRP statement. The increasing volume of transactions involving RLUSD and the wider development of blockchain-based payment systems were major topics of discussion in his remarks. Citing data from Visa’s blockchain payment operations, Rietveld contended that the numbers show that institutional adoption of digital asset technology is accelerating.

He emphasized the increasing volume of RLUSD on Visa’s platform in particular. He claimed that the stablecoin’s monthly transaction volume had already surpassed $1 billion. Rietveld began by saying that Visa had made a significant announcement regarding XRP and RLUSD activity.

He clarified that Visa manages stablecoin transactions across various networks and payment channels using its own blockchain-related payment infrastructure.

When all major providers and stablecoin ecosystems are taken into account, Rietveld claims that the stablecoin payment industry has grown into a multi-trillion-dollar monthly market.

He maintained that the rise in transaction activity indicates a broader institutional adoption of blockchain payment technology. Additionally, Rietveld linked the development to the XRP Ledger ecosystem, stating that the XRPL is now taking part in what he called a rapidly growing payment environment.

He underlined that the increasing volume of RLUSD has been a part of what he described as a consistent upward trend rather than a transient occurrence. The financial analyst suggested that the Unit’s regulatory developments were based on the Clarity Act

Visa Bets Big on XRP Infrastructure: Stablecoin Settlement and Cross-Border Revolution

Posted on by Olumide Adesina

Recent developments involving Visa and XRP-related infrastructure were brought to light by Levi Rietveld, who claimed that the payments giant had made a “crazy” XRP statement. The increasing volume of transactions involving RLUSD and the wider development of blockchain-based payment systems were major topics of discussion in his remarks. Citing data from Visa’s blockchain payment operations, Rietveld contended that the numbers show that institutional adoption of digital asset technology is accelerating.

He emphasized the increasing volume of RLUSD on Visa’s platform in particular. He claimed that the stablecoin’s monthly transaction volume had already surpassed $1 billion. Rietveld began by saying that Visa had made a significant announcement regarding XRP and RLUSD activity.

He clarified that Visa manages stablecoin transactions across various networks and payment channels using its own blockchain-related payment infrastructure.

When all major providers and stablecoin ecosystems are taken into account, Rietveld claims that the stablecoin payment industry has grown into a multi-trillion-dollar monthly market.

He maintained that the rise in transaction activity indicates a broader institutional adoption of blockchain payment technology. Additionally, Rietveld linked the development to the XRP Ledger ecosystem, stating that the XRPL is now taking part in what he called a rapidly growing payment environment.

He underlined that the increasing volume of RLUSD has been a part of what he described as a consistent upward trend rather than a transient occurrence. The financial analyst suggested that the Unit’s regulatory developments were based on the Clarity Act

Copper Surges Above $14,000 per Ton as Mine Disruptions Near Record High

Posted on by Olumide Adesina

Copper continued to rise above $14,000 per ton, as supply risks increased due to mine disruptions edging closer to a record high set earlier this year. On the London Metal Exchange, the red metal surged for an eighth session to reach $14,196.50 per ton, which was near an all-time high of $14,527.50 in January.

Front Loading Sends Copper Prices to All-Time High

A shortage of sulfur from the Middle East has put some African mines’ production prospects in jeopardy, exacerbating already-existing disruptions at other significant locations worldwide. However, China, the world’s largest consumer, is largely responsible for the resilient demand for copper, which has seen strong consumption across the power grid, renewable energy, and artificial intelligence sectors.

According to Li Xuezhi, head of research at Chaos Ternary Futures Co., industrial metals are recovering significantly as concerns over the Iran war ease, driven by supply problems and strong demand.

Copper futures on New York’s Comex reached a record $6.69 per pound in anticipation of US tariffs on refined metal imports, raising their premium to LME copper above $500 per ton. The effect of the possible duties is to draw refined copper into the United States while depleting supplies in other countries.

The US Commerce Secretary is expected to provide an updated report on the domestic copper market by June 30 as part of a broader initiative to boost supplies of a metal necessary to expand electrification globally.

Meanwhile, growing shortages of raw materials at mines have started to affect China’s production of refined metal. Beijing Antaike Information Co. claims that… April’s output of refined copper was 1.05 million tons, a 3% decrease from March, as scrap used as feedstock was constrained by restrictions, and concentrate treatment costs continued to decline.

 

Ripple Scores Huge with JPMorgan: Instant Cross-Border Tokenized Treasury Redemption

Posted on by Olumide Adesina

Morgan, Mastercard, Ripple, and Ondo Finance have successfully finished a pilot that allowed the repurchase of tokenized US Treasury bonds between banks and across borders in almost real time.

XRP Rebounds From Critical Support as Long-Term Drivers Strengthen

The operation depended on Ripple purchasing Ondo Short-Term US Government Treasuries (OUSG) tokens on the XRP Ledger via JPMorgan’s Kinexys platform and Mastercard’s Multi-Token Network, which then sent the funds to Ripple’s Singaporean bank account.

Ondo Finance processed Ripple’s acquisition of OUSG on the XRP Ledger, a public blockchain.

The settlement instructions were sent to JPMorgan’s blockchain division Kinexys via Mastercard’s Multi-Token Network. JPMorgan subsequently transferred the matching dollars to Ripple’s Singaporean bank account.

The dollar portion was not fully on-chain; instead, it moved through the conventional banking system. This hybrid model keeps fiat currency flows within controlled channels while enabling institutions to take advantage of blockchain infrastructure.

Tokenized assets have been settled across borders and banks, outside of regular banking hours, according to the four companies presenting this test. Having joined the XRP Ledger earlier in this cycle to increase institutional access, OUSG is one of the biggest tokenized Treasury products.

“This pilot is a significant step in creating an institutional framework for tokenized asset markets. Chief commercial officer Zack Chestnut of Kinexys by JP Morgan stated in a statement. According to RWA, the total value of tokenized US Treasury bonds is now close to $15 billion. xyz. Although this sum is still tiny in comparison to the $30 trillion Treasury bond market, it has increased dramatically since 2024 due to banks.

MetaMask Maker ConsenSys Pushes Back $7B IPO to Fall 2026

Posted on by Olumide Adesina

Consensys, the Ethereum (ETH) development company that created the MetaMask wallet, has postponed its intended US public offering until at least fall 2026.

The postponement comes after a protracted decline in the cryptocurrency market rendered a short-term listing unfeasible. According to a third person familiar with the plans, the company, led by co-founder Joe Lubin, had been aiming for a confidential S-1 registration statement filing with the Securities and Exchange Commission (SEC) around the end of February 2026.

The first official step in the IPO process is usually a confidential S-1. JPMorgan and Goldman Sachs were hired to spearhead the offering. “We don’t comment on market speculation as a matter of policy,” a company representative stated. “Cryptocurrency markets saw a steep decline as investors withdrew from riskier assets in February 2026.

Macroeconomic uncertainty, fresh tariff worries, and lower interest rate expectations were all contributing factors.

Investors withdrew from riskier assets since the first quarter, causing a sharp decline in cryptocurrency markets. Macroeconomic uncertainty, fresh tariff worries, lower expectations for interest rate reductions, and large withdrawals from Bitcoin (BTC) exchange-traded funds (ETFs) were all contributing factors.

The IPO plans of hardware wallet manufacturer Ledger and exchange behemoth Kraken have also been put on hold. Several companies had previously announced plans to go public due to improved regulatory clarity in the US, but the downturn slowed that momentum.

Ripple Scores Major Victory as JPMorgan Uses XRP Ledger for Landmark

Posted on by Olumide Adesina

Morgan, Mastercard, Ripple, and Ondo Finance have successfully finished a pilot that allowed the repurchase of tokenized US Treasury bonds between banks and across borders in almost real time.

The operation depended on Ripple purchasing Ondo Short-Term US Government Treasuries (OUSG) tokens on the XRP Ledger via JPMorgan’s Kinexys platform and Mastercard’s Multi-Token Network, which then sent the funds to Ripple’s Singaporean bank account.

Ondo Finance processed Ripple’s acquisition of OUSG on the XRP Ledger, a public blockchain.

The settlement instructions were sent to JPMorgan’s blockchain division Kinexys via Mastercard’s Multi-Token Network. JPMorgan subsequently transferred the matching dollars to Ripple’s Singaporean bank account.

The dollar portion was not fully on-chain; instead, it moved through the conventional banking system. This hybrid model keeps fiat currency flows within controlled channels while enabling institutions to take advantage of blockchain infrastructure.

Tokenized assets have been settled across borders and banks, outside of regular banking hours, according to the four companies presenting this test. Having joined the XRP Ledger earlier in this cycle to increase institutional access, OUSG is one of the biggest tokenized Treasury products.

“This pilot is a significant step in creating an institutional framework for tokenized asset markets. Chief commercial officer Zack Chestnut of Kinexys by JP Morgan stated in a statement. According to RWA, the total value of tokenized US Treasury bonds is now close to $15 billion. xyz. Although this sum is still tiny in comparison to the $30 trillion Treasury bond market, it has increased dramatically since 2024 due to banks.