Category: Crypto market

Forex Signals Brief June 19: SNB Cuts Rates to Help Economy, BoE and FED Don’t, Again

Posted on by Skerdian Meta

As geopolitical tensions and economic uncertainty swirl, central banks in the US, UK, and Switzerland take a cautious approach, leaving traders and investors scanning for clarity on policy direction and market momentum. Continue reading “Forex Signals Brief June 19: SNB Cuts Rates to Help Economy, BoE and FED Don’t, Again” →

Ripple: XRP Losing Steam amid ongoing Iran/Israel Fight

Posted on by Olumide Adesina

XRP’s drop in price and volume indicated a bearish trend on the token and likely a loss of interest from market players, given recent events between Israel and Iran.

 

The altcoin marginally declined on Thursday, down from $2.25, representing a 3.53 percent weekly loss. The volume of daily trades fell 37.36 percent to $3 billion.

XRP’s total market capitalization is currently worth $128 billion.

The altcoin market broadly declined on Thursday as geopolitical tensions escalated after a media report stated the U.S. was preparing for a military attack on Iran. Ahead of developments in the Israel-Iran conflict, investors were cautious, as evidenced by the weak buying pressure on XRP.

Market participants also carefully evaluated the Federal Reserve’s interest rate decision and Jerome Powell’s remarks regarding tariff-induced inflation.

Sentiment soured on Thursday after a Bloomberg report stated that senior U.S. officials were preparing for a potential strike against Iran, possibly over the weekend, signaling a direct escalation in the conflict.

U.S. President Donald Trump said on Wednesday he has “ideas” but would decide “one second before it’s due,” amplifying market uncertainty

This comes after Iran’s Supreme Leader, Ayatollah Ali Khamenei, rejected President Trump’s demands for unconditional surrender and stated that neither peace nor war could be imposed on the Islamic Republic. Meanwhile, the Federal Reserve’s decision on Wednesday to hold interest rates steady and Chair Jerome Powell’s warning that trade-related tariff inflation could pick up this summer further weighed on risk appetite.

Nobitex: Iran’s Crypto Exchange Suffers Breach, loses $90 million

Posted on by Olumide Adesina

Gonjeshke Darande, also known as “Predatory Sparrow,” a hacker collective, targeted Nobitex, one of Iran’s largest cryptocurrency exchanges, on Wednesday, damaging assets worth $90 million, and warned it will release the platform’s source code.

The group claimed to have attacked Iran’s state-owned Bank Sepah on Tuesday amid rising tensions between Israel and Iran.

This marks their second operation in two days. According to a social media post by the hackers early Wednesday, the most recent attack targeted Nobitex, a prominent Iranian cryptocurrency exchange. Nobitex is reportedly helping the Iranian government evade sanctions and funding illegal international activities.

Nobitex’s website was unavailable. In an X post, the company acknowledged its app and website were offline while investigating “unauthorized access” to its systems.
Gonjeshke Darande has a history of launching advanced cyberattacks against Iranian targets. The Israeli government has never formally acknowledged any connection to Gonjeshke Darande, despite speculation that the hacking group has ties to Israel.

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.
A direct US strike on Iran might signal a significant escalation in the Israel-Iran conflict, given Tehran’s warnings of severe repercussions. Today’s event marked the seventh day of strikes between Israel and Iran, with little indication that the Middle Eastern conflict is de-escalating.

 

Stablecoin: President Donald Trump Calls for GENIUS Act Passage

Posted on by Olumide Adesina

President Donald Trump commended the Senate for approving a bill to regulate stablecoin and encouraged the House of Representatives to pass the legislation. The GENIUS Act, which establishes a regulatory framework for stablecoins, aims to position the US as a leader in digital assets.

The bill was sent to the Republican-controlled House of Representatives for consideration following the Senate’s favorable vote on Tuesday. The House will send the bill to President Trump for his signature after being approved.

“Hopefully, the House will pass a ‘clean’ genius act and move LIGHTNING FAST. Trump wrote on Truth, “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.”
The passage of the Genius Act through Congress demonstrates that Trump is fulfilling his promises to implement more cryptocurrency-friendly regulations.

The bill outlines a regulatory framework for stablecoin operators, detailing monthly disclosures regarding their reserves and establishing specific reserve requirements. Stablecoins are digital assets whose value is fixed and pegged to a traditional currency, most commonly the US dollar.

The two largest stablecoins currently on the market are USDC from Circle and USDT from Tether. Advocates of stablecoins argue that they can also facilitate traditional payments, making them an essential tool for cryptocurrency transactions.

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