Category: Crypto market

Bitcoin Miners Revenue Lowest Since April

Posted on by Olumide Adesina

Bitcoin miners’ revenues fell to their lowest points in two months, but despite the drop in profitability, there are no signs of forced selling. A weekly report by CryptoQuant showed that daily mining revenue dropped to $34 million on June 22, the lowest since April and one of the lowest levels in the past year.

 

The hashrate has decreased by 3 to 5% since June 16, marking the largest decline in network computing power since July 2024. Although modest, this indicates increasing pressure on miners, who are already facing tighter margins due to the halving.

However, the expected surge in miner surrender has not materialized. With no spikes in exchange transfers, miner wallet outflows have remained low, declining from 23,000 BTC per day in February to about 6,000 BTC.

Even wallets associated with miners from the Satoshi era, often viewed as a long-term indicator, have hardly changed in 2025; only 150 BTC have been sold so far, compared to nearly 10,000 BTC offloaded in 2024.

Miners from the early days of Bitcoin, typically from 2009 to 2011 when Satoshi Nakamoto was still active online, are known as “Satoshi-era miners.” Miners’ reserves are high, since March, addresses holding between 100 and 1,000 BTC, operated by mid-sized mining firms, added 4,000 BTC, reaching their highest levels since November 2024. The conclusion is that miners are either waiting for a rebound or acting selectively.

XRP: Ripple stops Legal battle, drops cross-appeal against SEC

Posted on by Olumide Adesina

Brad Garlinghouse, Ripple’s chief, announced that the company is withdrawing its cross-appeal against the US Securities and Exchange Commission (SEC) and expects the regulator to follow suit.

 

Garlinghouse stated, “Ripple is dropping our cross-appeal, and the SEC is expected to drop their appeal, as they’ve previously stated.” “We’re finally ending this chapter and focusing on what matters most: creating the internet of value.”

He added, “Lock in.” The announcement comes after the US District Court denied a joint motion filed by the SEC and Ripple, which sought an indicative ruling to reverse an order that categorized primary sales of XRP to institutional investors as securities transactions under Article 5 of the Securities Act and to reduce a $125 million civil penalty.

The Court concluded that “Ripple’s willingness to push the boundaries of the [Summary Judgment] Order evinces a likelihood that it will eventually, if it hasn’t already, cross the line,” which is why it partially granted the SEC’s request for an injunction and a civil penalty, according to Judge Analisa Torres.

The SEC’s main claim was that Ripple had violated federal securities laws by selling XRP as an unregistered security, raising $1.33 billion. Garlinghouse argued in August 2024 that Torres’ $125 million fine against Ripple Labs was “a victory” for the company, noting that it was a 94% reduction from the SEC’s initial $2 billion damage claim.

Ripple: XRP gets BlackRock’s Attention

Posted on by Olumide Adesina

BlackRock, the world’s largest asset manager, has taken notice of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC). BlackRock cited the Ripple case as a warning example of how regulatory enforcement can seriously impair the value of a digital asset in a recent SEC filing about its spot Bitcoin ETF.

The $11 trillion asset manager discussed the SEC’s case against Ripple and its executives, noting that after the complaint was filed in December 2020, XRP’s market capitalization sharply declined from over $100 billion to less than $10 billion. The company’s decision to emphasize this case underscores its role as a regulatory benchmark for the entire digital asset industry.

The fact that XRP is mentioned in BlackRock’s official filings indicates that the lawsuit’s stakes go well beyond Ripple. Judge Analisa Torres recently rejected the first joint motion to settle the case for procedural reasons.

Legal analysts expect a final resolution by the third quarter and anticipate a revised filing soon. BlackRock’s mention of the case in its Bitcoin ETF application shows that institutional finance is closely watching the outcome and preparing to act.

XRP is currently trading at roughly $2.18, staying just above the $2 psychological level despite ongoing legal uncertainty. On the daily chart, analysts see steady accumulation and signs of bullish divergence, with upside potential increasing as the lawsuit approaches a conclusion.

XRP could experience a sharp rally if Ripple wins, potentially reaching its all-time high of $3.08 and opening the door for more record highs.

BlackRock’s explicit reference to the Ripple case confirms that many in the cryptocurrency community have long suspected that the outcome of this lawsuit is about more than Ripple; it’s about the future of digital assets within regulated finance. e

U.S Judge Reject Ripple-SEC deal, XRP Faces Pain

Posted on by Olumide Adesina

The US Securities and Exchange Commission (SEC) and Ripple recently submitted an unusual joint motion to support a reduction of Ripple’s fine from $125 million to $50 million, to settle a civil lawsuit regarding the sale of unregistered securities. However, the motion was rejected by Judge Analisa Torres of the US District Court for the Southern District of New York.

The XRP token was down by over 4% and struggled to hold $2.1 support line in the early hours of Friday amid significant selling pressure.

 The SEC and Ripple asked Judge Torres to lift a permanent injunction against Ripple and reduce the financial penalty. They invoked Rule 60(b), which allows a court to relieve a party from a final judgment, arguing that their request was based on a settlement agreement.

Judge Torres reprimanded both parties for suggesting that their March settlement should exempt Ripple from adhering to her permanent injunction against breaking the law.

Stuart Alderoty, Ripple’s Chief Legal Officer, mentioned on X that the company has not yet decided on its next legal steps. The SEC did not provide an immediate response.

Judge Torres accepted that the SEC can change its approach to enforcement cases and noted that the agency has been easing its oversight of cryptocurrencies. However, she stated that both parties “had not come close” to proving that the settlement was justified due to extraordinary circumstances that would outweigh public interest and the administration of justice.

She wrote, “A court’s final judgment that a party violated an Act of Congress in a way that required a permanent injunction and a civil penalty to prevent that party from breaking the law again cannot be agreed to by the parties.” Consequently, she indicated that if jurisdiction were returned to her court, she would reject both the request to lift the injunction and to reduce the civil penalty.

According to Judge Torres, the SEC and Ripple still have the option to withdraw their appeals or to challenge her injunction. As of Thursday, XRP is noted to be the fourth-largest cryptocurrency by market value, following Bitcoin, Ethereum, and Tether, according to market service CoinMarketCap.

Forex Signals Brief June 26: Fed Holds Steady, Dollar Dives, Eyes Now on Durable Goods

Posted on by Skerdian Meta

Yesterday the Dollar Weakened as Powell Testified for the second day; Today Markets Shift Focus to Durable Goods and Commodities. Continue reading “Forex Signals Brief June 26: Fed Holds Steady, Dollar Dives, Eyes Now on Durable Goods” →

Ripple: XRPL Upgrade Boost RLUSD, XRP Efficiency

Posted on by Olumide Adesina

The XRP Ledger’s (XRPL) network released an updated version of its software, a big step to battle players like Solana and Ethereum. Batch transaction support improves efficiency and makes complex multi-step operations possible by combining and processing several requests as a single unit.

Another major update is escrow support for RLUSD and other cryptocurrency assets on XRPL. Escrows can now interact with multipurpose and trustline-based tokens, which can benefit applications by enabling automated and secure payouts, such as vesting schedules and deposit controls.

Version 2.5.0  introduces permission delegation and permissioned decentralized exchange (DEX) controls. The former helps projects comply with regulatory requirements by granting developers authority over who can participate in exchanges.

Additional features and improvements have been added to enhance the developer experience, performance, and reliability. The relay logic has been improved, allowing the network to manage more transactions simultaneously.

XRPL Commons has been included as a reliable bootstrap cluster, improving network connectivity. The upgrade also enhances how the system manages transactions from accounts with multiple signers, resolving conflicts with signing methods.

Other modifications include improved memory utilization, reduced redundant network traffic, faster build times, clearer documentation, and updated developer tools. Build instructions for Ubuntu 22.04 and later systems have been refined. Daily XRPL addresses increased sevenfold, from about 40,000 to nearly 295,000 before the update. Meanwhile, whale wallets broke previous records, reaching 2,708—the highest amount in the network’s 12-year history.

COIN: Coinbase posts 52-week high, Bernstein Maintains Outperform Rating

Posted on by Olumide Adesina

Coinbase’s (COIN) stock surged to 52-week highs on Wednesday, with Bernstein analysts describing the cryptocurrency platform as the “one-stop Amazon” of crypto services. Shares rose by more than 3 percent, nearing their record close of $357.39, which was reached on November 9, 2021.

Coinbase Q1 earnings highlight the day

 Gautam Chhugani and his team at Bernstein reported on Wednesday, calling “Coinbase is the most misunderstood company in our Crypto coverage universe,” raising their price target from $310 to $510, maintaining an Outperform rating.

 Coinbase controls a significant portion of the underlying assets of U.S. spot bitcoin ETFs, operates the largest stablecoin business among exchanges, and manages U.S. cryptocurrency trading.

“Coinbase has rapidly expanded its divisions, including institutional custody, Base blockchain services, and Prime lending,” the analysts noted.  Coinbase has positioned itself as the “Amazon of crypto financial services by offering different crypto financial services.

Chhugani pointed out that the bearish projections surrounding Coinbase have not materialized. He stated, “Coinbase’s market share has remained strong despite increasing competition,” adding that the arrival of traditional brokerage competitors could take months.

Coinbase’s leadership has also highlighted its extensive reach. Co-founder and CEO Brian Armstrong mentioned on X, “Underappreciated: @coinbase is powering crypto integrations for approximately 200 banks, brokerages, fintechs, and payment companies.”

Sean Farrell, Fundstrat’s head of digital asset strategy, suggested that investors who missed the recent spike in the stock price may still have an opportunity to enter the market. “Despite the significant rally we’ve seen, I still believe there’s additional upside for Coinbase,” he remarked.

Coinbase rally and other crypto-related stocks have been supported by growing institutional adoption of bitcoin (BTC-USD) and the momentum surrounding stablecoin regulation. Circle (CRCL) is the company that issues USD.

Fannie Mae, Freddie Mac accept Crypto as Mortgage Asset

Posted on by Olumide Adesina

William Pulte, the US Director of the Federal Housing Administration, instructed Fannie Mae and Freddie Mac to accept cryptocurrency as a mortgage asset.

 

Pulte stated, “Today, I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage, following extensive research and in line with President Trump’s vision to make the United States the crypto capital of the world.”

This directive could change how government-sponsored enterprises evaluate assets for mortgage qualification. This move aligns with the administration’s stated goals regarding cryptocurrency adoption in the US.

The agency indicated that digital assets could be considered without switching to US dollars, potentially improving access to sustainable homeownership by making borrower reserve assessments more accurate.

This marks a major change from long-standing policies that required the liquidation of cryptocurrency assets before they could be counted.

The directive mandates both organizations to develop proposals for using cryptocurrencies as reserve assets within risk models, provided the assets are verifiable and held on centralized exchanges governed by US law. The FHFA emphasized that before implementation, each assessment must consider volatility, apply risk-based discounts, and secure board approval for each company

XRP: Elon Musk Buying Ripple ?

Posted on by Olumide Adesina

Elon Musk is reportedly considering an investment in Ripple’s XRP, generating excitement within the cryptocurrency community.

However,  no official sources or reputable organizations have verified these claims. Musk’s potential investment is a topic of discussion, but without official confirmation, the increasing speculative activity in the cryptocurrency market warrants caution.

There are rumors that Elon Musk may be investing $104 billion in Ripple’s XRP. Allegedly, Musk sees XRP as a potential foundation for his idea of “The Everything App,” noting its effectiveness and regulatory advantages. However, neither Musk, Ripple, nor any related organizations have released official statements to confirm these claims.

The lack of official filings or credible media coverage further reduces the credibility of this report. Investors should exercise caution, as cryptocurrencies can be unpredictable.

Historically, the world’s richest man fueled market excitement and volatility, particularly through  Dogecoin (DOGE). Meanwhile, Ripple’s ongoing regulatory efforts keep XRP a major player in blockchain payments and international transactions.

If the alleged investment were to happen, it could enhance Musk’s ambitions of integrating cryptocurrency payments into larger platforms. However, the cryptocurrency community must distinguish between Musk’s verified actions and speculative rumors. Official disclosures and reliable sources are the best indicators of genuine market developments.

SharpLink: Ethereum Holdings Reach 188,478 ETH

Posted on by Olumide Adesina

SharpLink has announced a strategic increase in Ethereum (ETH) holdings, totaling 188,478 ETH. This includes the acquisition of an additional 12,207 ETH (including fees and expenses) at an average price of $2,513 per ETH between June 16, 2025, and June 20, 2025.

The Nasdaq-listed company sold 2,547,180 shares of its common stock through its At-The-Market facility (ATM), generating approximately $28 million in net proceeds. The majority of the funds raised from these ATM sales will be used to expand SharpLink’s ETH treasury holdings.

SharpLink has generated 120 ETH rewards since launching its ETH-focused treasury strategy on June 2, 2025, with all of its ETH holdings deployed in staking solutions as of June 20, 2025.

Joseph Lubin, Chairman of the Board of SharpLink, Co-Founder of Ethereum, and Co-Founder and CEO of Consensys, stated, “Our progressive approach to generating long-term value for our shareholders is demonstrated by the growth of SharpLink’s ETH holdings.”

He highlighted that as ETH and other digital assets continue to shape technology and finance, SharpLink is positioning itself at the intersection of blockchain development and cutting-edge iGaming.

Lubin emphasized the company’s belief in Ethereum’s potential and its commitment to exploring innovative technologies that can create new value for the company and its investors.