Category: Crypto market

Forex Signals Brief July 1: EZ June CPI Inflation and US ISM Manufacturing on Agenda

Posted on by Skerdian Meta

Markets are watching closely as Eurozone inflation and US manufacturing data set the tone for policy expectations today.
Continue reading “Forex Signals Brief July 1: EZ June CPI Inflation and US ISM Manufacturing on Agenda” →

Bitcoin Settle Green in June After Posting Record Highs in May

Posted on by Olumide Adesina

Bitcoin rose about 3.5 percent in June on rate cut outlook and optimism regarding US policy, which boosted risk-driven flows into the cryptocurrency.  Bitcoin hit a record high in May

 

The main catalyst was the passage of a stablecoin regulation bill through Congress, signaling President Donald Trump’s commitment to enacting more crypto-friendly regulations.

Freddie Mac and Fannie Mae, two major mortgage agencies, indicated they are considering using cryptocurrency as collateral for home loans, another sign of government acceptance. Alongside institutional adoption signs, a ceasefire between Israel and Iran that appeared to hold last week increased risk appetite.

According to a regulatory filing, Strategy, formerly known as MicroStrategy, purchased $531.9 million worth of 4,980 additional Bitcoins between June 23 and June 29 at an average price of $106,801.

The world’s largest public Bitcoin holder now owns 597,325 BTC, valued at over $64 billion, bought at an average of $70,982 per coin.

Executive chairman Michael Saylor stated that the total cost amounts to $42 billion, meaning roughly $21 billion in gains are unrealized. Funding for the recent purchase came from proceeds of recent equity sales, including $519.5 million from selling over 135 million MSTR shares and preferred stock offerings.

Ripple: Whales dump 25.5 million XRP in Coinbase

Posted on by Olumide Adesina

XRP has recently gained considerable attention in the cryptocurrency community after Ripple decided to withdraw its prolonged cross-appeal in a legal dispute with the SEC.

 WhaleAlert data showed 25,498,179 XRP was sent to Coinbase on June 30th, as the cryptocurrency continues to attract interest following significant recent events.
XRP has become the main focus for many investors as anticipation for the highly awaited spot XRP ETF launch grows.

Coinbase Q1 earnings highlight the day

The market remains uncertain about what the XRP community will do next.

This large sell-off attempt by an unidentified whale has sparked mixed reactions, with some speculating that it could be a precursor to something major. Typically, sell-off attempts hurt the cryptocurrency’s market value, but in this case, the market has taken an unusual turn.
Large transfers to exchanges are often linked to intentions to sell, but since the token’s price increased after the transfer, the XRP community is curious about the true reason behind the move.

Large holders are re-entering the market with major accumulations, prompting a new wave of whale activity in XRP.

Mirroring the pattern seen during the previous significant rally, this sudden change is fueling hopes of a potential price surge.

 XRP’s price movements have frequently followed trends in whale flow in the past year. These large trades have consistently preceded notable market shifts, underscoring their influence on XRP’s performance.

Reports from August 2024 showed whale flows fluctuating around- 150 million XRP, which was quite negative. At that time, XRP was barely holding onto the half-dollar mark, showing little strength and waning investor confidence.
However, by September and October, signs of a shift emerged as whale inflows gradually increased, indicating early signs of renewed interest from major market players. The accumulation grew steadily from November to December 2024, reaching a peak of nearly + 250 million XRP.

Oracle (ORCL) Breach new Highs after Multibillion-dollar Deals

Posted on by Olumide Adesina

Oracle’s stock (ORCL) surged about 4% on Monday to close at a record high following the software giant’s announcement that it had signed multibillion-dollar contracts for cloud services. The company provided commentary in a filing to the US Securities and Exchange Commission, which CEO Safra Catz intended to discuss with other Oracle colleagues on Monday.

According to Catz’s statement, “Oracle is off to a strong start in FY26,”. “We have signed several significant cloud services agreements, including one that is anticipated to generate over $30 billion in revenue annually beginning in FY28, and our MultiCloud database revenue is still growing at a rate of over 100%. “Oracle’s cloud services division generated $24.5 billion in revenue during its fiscal year 2025, which concluded on May 31.

The company’s overall revenue was $57.4 billion. Oracle’s stock rose 8 points to a high of $228 during the day. Oracle’s stock reached a record high of slightly over $215 last week. Over the past month, shares have increased by over 33%, outpacing the tech-heavy index

Additionally, Oracle’s Monday surge came after Brad Reback, a Stifel analyst, upgraded the stock from Hold to Buy. Citing growth in Oracle’s cloud business, Reback increased his price target for the company’s shares from $180 to $250. Reback wrote, “In the upcoming years, cloud gains should result in accelerating increases in total revenue. The business collaborated with OpenAI (OPAI).

The much-discussed $500 billion Stargate project to develop US AI data centers was supposed to be started earlier this year by PVT and SoftBank (SFTBY), but it has stalled.

Robinhood (HOOD) 24/7 Stock Trading in European Union

Posted on by Olumide Adesina

Robinhood (HOOD) has paved the way for 24-hour stock trading in the European Union. The trading platform announced at an event in Cannes, France, on Monday that it has introduced US stock and ETF tokens in the EU. More than 200 US stock and ETF tokens will be available to Robinhood’s European customers

Additionally, dividend payments will be made directly to stock token holders via the Robinhood app. Customers can now invest in stocks and ETFs through the company’s European app, which previously only offered cryptocurrency. Initially, stock tokens will be distributed via the blockchain platform Arbitrum.

Vlad Tenev, CEO and co-founder of Robinhood, said its layer-two blockchain will soon enable the tokenization of stocks. The company stated that the technology, which is currently under development, will support 24/7 trading.

“We think we can get that done [24/7 trading in the EU] within the next few months. That’s the goal, at least for our EU clients. With cryptocurrency assets, you already have it. So, the same underlying infrastructure will be used for these cryptocurrency-backed stock tokens. We believe they will enable 24/7 trading once they are available on Bitstamp.’

That means Saturdays and holidays will be trading days. And that would be appealing, in my opinion. Tokenization is the process of turning a physical asset into a digital representation using blockchain technology. It provides investors the option to diversify their holdings, like granting fractional ownership of stocks, artwork, or real estate.

CRCL: Circle applIed to establish a U.S Bank

Posted on by Olumide Adesina

Circle has applied to establish a national trust bank in the United States, marking a significant step forward after its successful initial public offering (IPO) earlier this month, which valued the company at nearly $18 billion.

Circle will be able to hold cryptocurrency assets for institutional clients and act as a custodian for its reserves if the U.S. Office of the Comptroller of the Currency grants the charter

The license would restrict Circle from making loans or accepting cash deposits, which distinguishes it from traditional banks. CEO Jeremy Allaire stated in an interview with Reuters, “Circle has long sought to uphold the highest standards of trust, transparency, governance, and compliance. Becoming a national trust company is a continuation of that, and going public is a major step.”

USDC, a dollar-backed stablecoin issued by Circle, is widely utilized in the cryptocurrency market. Traders often use stablecoins—designed to maintain a stable value, typically pegged 1:1 to the dollar—to move funds between different tokens.

Circle’s reserves, which consist of short-term U.S. Treasury notes, cash, and Treasury repurchase agreements, are managed by BlackRock and held in custody at BNY Mellon. According to Allaire, some of Circle’s USDC reserves will continue to be held at large banks, but the new organization will oversee them. Additionally, thanks to the license, Circle will be able to offer custody services for digital assets on behalf of institutional clients.

Allaire emphasized that the focus will be on the custody of assets such as stocks and bonds, which will be represented as tokens on a blockchain network.

Forex Signals Brief June 30: Packed Week Ahead – PMIs, CPI, NFP and More

Posted on by Skerdian Meta

Markets will watch a busy calendar this week with crucial inflation, labor, and PMI data from major economies as investors weigh recession risks, central bank paths, and growth momentum. Continue reading “Forex Signals Brief June 30: Packed Week Ahead – PMIs, CPI, NFP and More” →

Binance maintain Unwavering Support for Ripple’s XRP

Posted on by Olumide Adesina

Binance consistently supported XRP on its global platform, despite the prolonged legal dispute between Ripple and the US Securities and Exchange Commission (SEC).  Binance’s global operations maintained the token’s liquidity and market access intact while several US-based exchanges suspended trading in XRP due to regulatory scrutiny.

Changpeng Zhao, the founder of Binance, stated, “Binance.com never delisted XRP,” emphasizing the exchange’s commitment to the asset during a time of uncertainty in the industry.

Binance’s global platform maintained uninterrupted XRP trading throughout Ripple’s SEC lawsuit, highlighting the regulatory impacts on cryptocurrency markets in contrast to the suspensions implemented by US exchanges.

Many major US exchanges delisted XRP following the SEC’s lawsuit against Ripple Labs, which alleged that the company had engaged in an unregistered securities offering.

Binance’s global platform significantly diverged from such a narrative.

The complex regulatory environment affecting cryptocurrency exchanges operating in various jurisdictions is particularly evident in the US. Changpeng Zhao publicly clarified on social media that while Binance.us suspended XRP trading to comply with US regulations in January 2021, Binance.com continued to support XRP worldwide.

This strategy helped reduce the token’s vulnerability to local legal challenges, ensuring that XRP holders outside the US had access to one of the largest liquidity pools.

Exacerbated by the SEC’s enforcement action, several prominent US exchanges chose to delist or suspend trading of the token due to the significant uncertainty surrounding XRP’s classification,

ETH: Ethereum Bears Brunt of North Korea Crypto Heists

Posted on by Olumide Adesina

Hackers stole $2.1 billion worth of cryptocurrency in the first half of this year, setting a record. A report released Friday by blockchain intelligence firm TRM Labs states that 70% of the thefts were due to North Korean-sponsored actors.

The report, “H1 2025 Crypto Hacks and Exploits: A New Record Amid Evolving Threats,” claims North Korean groups were responsible for $1.0 billion of the stolen funds, making the total 10% higher than the previous high set in 2022. TRM reported that North Korea has confirmed its status as the most active nation-state threat actor in the crypto space.

The reported losses in H1 2025, over $2 billion, mark the highest six-month total ever recorded, largely driven by the February hack of the exchange Bybit, which involved Ethereum and related assets—the biggest hack in industry history.

The breach was traced back to a compromised developer laptop, specifically a malicious Docker project that interacted with a high-level Safe developer’s workstation. Authorities and TRM Labs attribute the attack to North Korean hackers. The report states, “Inflating the average hack size and highlighting nation-states’ strategic use of cybercrime, the February 2025 Bybit breach… changed the narrative for the year.” The report stated.