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PEPE approaches a major demand zone while traders await confirmed bullish reversal signals before considering fresh long positions.
Futures data shows easing leverage, with declining open interest and volume despite buyers maintaining a modest directional advantage.
Short liquidations continue exceeding long liquidations, reflecting cautious bullish momentum without excessive speculative positioning.
PEPE Outlook remains focused on a pivotal support region as technical structure and derivatives positioning suggest buyers retain an opportunity to regain short-term momentum.
Technical Structure Centers on a Key Demand Zone
Finora AI shared a one-hour PEPE chart outlining the current technical landscape. The analysis emphasized patience before considering fresh long exposure. Price continues consolidating after an earlier impulsive breakout.
Source: X
The rally followed an extended accumulation period at lower trading levels. Strong buying pressure carried PEPE through multiple resistance zones quickly. Momentum later slowed after reaching an upper resistance area.
The chart now reflects consolidation instead of outright trend weakness. Price continues respecting several established horizontal support and resistance levels. Those repeated reactions suggest liquidity continues building inside the range.
Finora AI identified 0.00000259–0.00000256 as the primary demand zone. Buyers require convincing reversal confirmation before entering new positions. Bullish engulfing candles or similar structures remain preferred entry signals.
Recovery Scenario Depends on Market Confirmation
The analysis also outlines a more conservative trading approach. Price may briefly sweep below 0.00000255 before recovering rapidly. Such a movement could remove weak positions while trapping fresh sellers.
A swift reclaim above the demand zone would strengthen the bullish setup. That recovery would suggest buyers successfully absorbed available selling pressure. Market structure would then favor renewed upside attempts.
The first upside objective stands near 0.00000265 following successful confirmation. Additional momentum could extend toward 0.00000276 afterward. There is also good continuity that could back partial gains around 0.00000281.There's also solid continuity that can back partial gains near 0.00000281.
Bearish conditions only begin when there is prolonged weakness below 0.00000255 Failure to recover support changes the technical outlook completely. Lower downside objectives then shift toward 0.00000248 and 0.00000244.
Derivatives Data Shows Restrained Bullish Positioning
CoinGlass derivatives data complements the technical structure with measured optimism. Futures volume declined 14% despite recent price appreciation. Open interest also slipped 0.91%, indicating softer leveraged participation.
Long-to-short ratios continue favoring buyers without reaching crowded positioning levels. Binance's accounts have a ratio of almost 1.05, and OKX's accounts have a ratio of 1.35. Those readings aren't an overstatement of optimism, they're more moderate.
Liquidation statistics offer a more levelled-up view over the past couple of sessions. Short liquidations have been more for several periods than long liquidations. Despite that, in total, the liquidation amounts were still comparatively low.
PEPE is as of writing, valued at $0.000002664 and has seen a 2.26% increase in its value within the last 24 hours, and a 8.48% increase in value within a week. The trading volume is at $102.56 million a day, despite a drop in futures volume. Together, technical levels and derivatives metrics continue favoring disciplined confirmation before stronger directional positioning.
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Michael Saylor said BIP 110 introduces unnecessary consensus changes that pose greater risks than Bitcoin spam.
Adam Back argued the proposal conflicts with Bitcoin's decentralized governance and censorship-resistant design.
Both maintained that transaction policy disputes should not justify changing Bitcoin's existing consensus rules.
Bitcoin debate intensified after Strategy founder Michael Saylor and Blockstream co-founder Adam Back publicly opposed BIP 110. Through separate statements, both argued the proposal conflicts with Bitcoin's existing principles, warning that changing consensus rules over spam concerns could create broader risks and divide the network rather than resolve the dispute.
Saylor Warns Against Consensus Rule Change
Michael Saylor argued that BIP 110 transforms a disagreement over spam into a consensus-level protocol change. According to Saylor, the proposal would invalidate transactions that currently meet Bitcoin's existing rules and pay transaction fees.
He said that precedent creates a greater concern than spam itself. Saylor added that Bitcoin faces many other issues deserving greater attention than altering consensus over transaction filtering.
His comments focused on protecting Bitcoin's current validation rules. He maintained that changing those rules over a policy dispute introduces unnecessary risk.
Adam Back Defends Bitcoin's Design
Meanwhile, Adam Back explained his opposition in a detailed post discussing Bitcoin's decentralized structure. According to Back, supporters of BIP 110 appear motivated by legitimate concerns but misunderstand how Bitcoin's technical governance operates.
Back said decentralization prevents users from imposing their preferred transaction policies on others. Instead, participants may change their own software but cannot require the broader network to adopt those changes.
He also argued that Bitcoin's decentralized technical review process protects the protocol from changes lacking broad technical consensus. According to Back, developers and reviewers examine proposals before any network-wide adoption occurs.
Back Says Fork Remains The Alternative
Back acknowledged that many BIP 110 supporters want to protect Bitcoin from spam. However, he argued that the proposal conflicts with Bitcoin's permissionless and censorship-resistant design.
According to Back, disagreements over transaction policies should not override the network's decentralized decision-making process. He encouraged supporters to study the technical reasons behind Bitcoin's existing approach before pursuing protocol changes.
Back added that anyone rejecting the existing consensus remains free to create a separate fork. However, he said Bitcoin itself would not adopt BIP 110 under those circumstances.
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The CFTC stayed CME's self-certified 24/7 crude oil futures contract before its planned launch.
Regulators are reviewing whether round-the-clock futures trading complies with the Commodity Exchange Act and Commission rules.
The proposal remains under formal review as the CFTC continues accepting public comments on 24/7 futures trading.
The Commodity Futures Trading Commission halted Chicago Mercantile Exchange's proposed 24/7 crude oil futures contract before its planned launch. According to the CFTC, the action followed CME's July 8 self-certification filing while the agency continues reviewing round-the-clock futures trading through an ongoing public comment process that began on June 22. The Commission said the stay prevents the contract from launching before its regulatory review concludes.
CFTC Cites Ongoing Regulatory Review
According to the CFTC, the Commission exercised its authority under Regulation 40.2(c) to stay the self-certified contract. As a result, CME cannot introduce the product while regulators assess whether it complies with the Commodity Exchange Act and related Commission rules.
The agency noted that it requested public comments on June 22 regarding 24/7 trading across several futures markets. That review includes crude oil futures and examines whether continuous trading aligns with statutory core principles.
CFTC Chairman Michael S. Selig said the Commission does not apply a single approach to every asset class. He added that each proposal requires an individual legal and regulatory assessment.
CME Filed Under Two Regulatory Paths
Meanwhile, the CFTC explained that exchanges can list contracts through self-certification under Regulation 40.2 or seek formal Commission approval under Regulation 40.3.
According to the agency, CME submitted filings under both procedures. However, the Commission stayed only the self-certification while continuing its review under the 40.3 approval process.
Selig said CME's decision to pursue self-certification during the Commission's ongoing examination required regulatory action. He also encouraged exchanges to work with Commission staff before listing new products that raise legal questions.
Commission Review Continues
According to the CFTC, the stay blocks the proposed contract from trading until regulators determine whether it satisfies federal requirements.
The Commission said it will continue conducting a detailed review under its Regulation 40.3 authority. Meanwhile, the public comment period on 24/7 futures trading remains open as the agency evaluates legal and operational considerations across different asset classes.
The CFTC maintained that its review will determine whether the proposed contract meets the Commodity Exchange Act and applicable Commission regulations before any listing proceeds.
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Weekly trading volume across South Korea's five largest crypto exchanges fell to about KRW 9.97 trillion, down 25.75% week over week.
The decline marked the fifth consecutive weekly drop, with trading activity falling about 43.5% since early June.
Upbit remained the largest exchange despite losing market share, while Bithumb and Coinone recorded modest gains.
Trading activity across South Korea's five largest won-based cryptocurrency exchanges fell below KRW 10 trillion during the week of July 3-10. According to Digital Asset, weekly volume declined for a fifth straight week to about KRW 9.97 trillion, marking the first drop below that level in about two years and nine months.
Five-Week Decline Deepens
According to Digital Asset, combined trading volume across Upbit, Bithumb, Coinone, Korbit, and Gopax reached approximately KRW 9.9676 trillion. That represented a 25.75% decline from the previous week's KRW 13.4 trillion.
The latest figures also extended a steady decline that began in early June. Weekly trading volume measured KRW 17.7 trillion during June 5-12 before falling each following week.
Trading then dropped to KRW 15.4 trillion, followed by KRW 14.6 trillion and KRW 13.4 trillion. Compared with early June, total weekly volume has now declined by about 43.5%.
According to Digital Asset, this marks the first time weekly trading volume has fallen below KRW 10 trillion since late September 2023.
Market Share Shifts Across Exchanges
While overall trading activity weakened, several exchanges gained market share during the latest reporting period. However, the rankings among the five exchanges remained unchanged. Upbit retained the largest share of the market at 63.02%.
However, its share declined by 3.95 percentage points from the previous week. Meanwhile, Bithumb increased its market share by 2.38 percentage points to 29.51%. Coinone also expanded its share by 1.46 percentage points, reaching 6.66%.
Smaller Platforms Hold Positions
Korbit accounted for 0.78% of the total market during the reporting period. Meanwhile, Gopax recorded a market share of 0.03%, according to Digital Asset.
Although market shares shifted among individual exchanges, none changed their overall positions in the rankings. Upbit remained first, followed by Bithumb, Coinone, Korbit, and Gopax.
According to the reported data, the broader trend continued to reflect declining trading activity across South Korea's leading won-denominated cryptocurrency exchanges during the latest five-week period.
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Coinbase's Faryar Shirzad said the CLARITY Act strengthens anti-money laundering, sanctions enforcement, and national security oversight.
Senator Elizabeth Warren renewed criticism, arguing the bill could weaken sanctions enforcement and requesting hearings on crypto holdings.
Senate committees continue merging separate proposals into a unified CLARITY Act draft before the August recess.
Debate over the CLARITY Act intensified as the Senate prepared a unified draft and Coinbase defended the proposal against national security criticism. Coinbase Chief Policy Officer Faryar Shirzad said unclear crypto rules create greater risks, while lawmakers continued negotiations before the expected release of revised legislation ahead of the August recess.
Shirzad Rejects Security Criticism
According to Shirzad, the CLARITY Act would place crypto platforms under the same national security standards as traditional financial institutions. He said the legislation requires compliance with federal anti-money laundering rules rather than reducing oversight.
Shirzad also said the bill expands the Treasury Department's authority to identify and stop sanctions evasion involving foreign adversaries. Additionally, he noted that the proposal provides more funding for the Financial Crimes Enforcement Network to combat state-backed cybercrime.
He added that the legislation would also allow crypto platforms to freeze suspicious transactions when law enforcement requests action. According to Shirzad, those measures strengthen oversight instead of weakening it.
Warren Raises New Concerns
However, Senator Elizabeth Warren renewed her criticism of the legislation. According to the provided information, she shared an opinion article from a former National Security Council official focused on Iran.
Warren argued the CLARITY Act, in its current form, could make sanctions evasion easier. Meanwhile, she and ranking Democrats from five congressional committees also requested hearings into President Donald Trump's crypto holdings.
At the same time, Senate Banking Committee and Senate Agriculture Committee staff continue working to combine separate proposals into a single legislative draft. The unified version could become available before lawmakers leave for the August recess.
Market Watches Bill's Progress
Meanwhile, Coinbase's leadership transition has also attracted attention during the legislative debate. Chief Legal Officer Paul Grewal recently announced his departure after six years with the company.
Grewal previously helped lead Coinbase's legal efforts involving the SEC while supporting the GENIUS Act and the CLARITY Act. Following his announcement, some market participants questioned whether the legislation had lost momentum.
According to the provided information, the CLARITY Act advanced through the Senate Banking Committee in May 2026. Separately, Polymarket showed the bill's chances of passing this year at 46%, while some commentators linked Grewal's departure to the legislation's uncertain timeline.
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Brad Garlinghouse said Ripple considered shutting down after the SEC lawsuit but continued operating to protect employees.
David Schwartz said early legal advice favored settling, believing Ripple could not survive the SEC's case.
Ripple later resolved the lawsuit and has since expanded its regulatory approvals and global operations.
Ripple Chief Executive Officer Brad Garlinghouse said the company considered shutting down after the U.S. Securities and Exchange Commission sued it in 2020. Speaking at the KU School of Business, Garlinghouse said Ripple weighed closing operations because of the government's legal resources but continued fighting the case to avoid widespread job losses.
Garlinghouse Describes Shutdown Option
Garlinghouse said shutting down appeared to be the easier path after the SEC filed its lawsuit. According to his remarks, Ripple could have distributed its XRP holdings to shareholders on a pro rata basis.
He said the company could then have informed the SEC that it no longer held XRP. However, Garlinghouse added that such a decision would have left hundreds of employees without jobs.
Instead, Ripple continued defending the lawsuit through the courts. The SEC filed the case in 2020, alleging Ripple sold XRP as an unregistered security.
Schwartz Recalls Early Legal Advice
Ripple Chief Technology Officer David Schwartz also addressed the company's response after the lawsuit. According to Schwartz, legal advisers initially believed Ripple could not survive the case.
https://twitter.com/JoelKatz/status/2076138642020646933?s=20
He said lawyers recommended reaching a settlement to protect the company and its executives. Schwartz also said he believes the SEC named Garlinghouse and Ripple co-founder Chris Larsen personally because that outcome was expected in similar cases.
The SEC later pursued claims against both executives alongside the company. However, Judge Analisa Torres later ruled that XRP itself is not a security.
Company Expanded After Legal Fight
The SEC and Ripple eventually settled the long-running lawsuit after the Trump administration took office. Meanwhile, Ripple has continued expanding its regulatory footprint.
According to the provided information, Ripple recently obtained a new European Union license, making the company compliant with the Markets in Crypto-Assets framework. The company has also secured licenses across multiple jurisdictions.
Community member BankXRP said Ripple's U.S. business has resumed while institutional partnerships continue expanding. He also noted that banks are building on the XRP Ledger, according to the information provided.
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Paul Grewal will leave Coinbase after six years and remain an adviser and board member of Coinbase National Trust Company.
Coinbase appointed Molly Abraham as general counsel and promoted Ryan VanGrack to vice chairman and head of corporate affairs.
Grewal's tenure included Coinbase's SEC lawsuit, public listing, and support for the GENIUS and CLARITY Acts.
Coinbase Chief Legal Officer Paul Grewal announced on July 9 that he will leave the company at the end of the month after six years. According to Grewal, he will transition into an advisory role while remaining on the Board of Coinbase National Trust Company, as Coinbase also reshapes its legal and policy leadership.
Leadership Changes Take Effect
Grewal said his tenure included Coinbase's public listing, the company's legal battle with the U.S. Securities and Exchange Commission, and its move from Delaware to Texas. He also cited his work supporting the GENIUS Act and the proposed CLARITY Act.
According to Reuters, Grewal plans to join a startup after leaving Coinbase. However, he will continue advising the company and remain involved with its trust charter work.
Coinbase also announced that Molly Abraham will become general counsel. Grewal said she worked alongside him for more than five years during the company's major legal cases.
New Roles Expand Policy Team
Meanwhile, Coinbase promoted Ryan VanGrack to the newly created position of vice chairman and head of corporate affairs. According to Grewal, VanGrack will work with governments and industry partners worldwide.
Reuters reported that VanGrack will represent Coinbase before policymakers and key stakeholders while supporting the company's broader corporate strategy. He said his new responsibilities include expanding products, entering additional jurisdictions, and strengthening government relationships.
At the same time, Faryar Shirzad will continue leading Coinbase's global policy team. Grewal said the group's work with governments and regulators remains critical to the company's operations.
Armstrong Reflects On Grewal's Tenure
Coinbase Chief Executive Officer Brian Armstrong thanked Grewal for leading the company through its regulatory disputes. Armstrong recalled the company's public challenge to the SEC before the agency later dismissed its lawsuit.
According to Reuters, the SEC sued Coinbase in 2023, alleging the exchange operated as an unregistered securities platform. The agency later dropped the case after President Donald Trump returned to office.
Armstrong also praised Grewal for building the legal team that now includes Abraham and VanGrack in senior leadership positions. Grewal said he remains grateful for his time at Coinbase and described the company as an ally for life.
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Metaplanet is studying how Bitcoin, stablecoins, and security tokens could support blockchain-based corporate credit products.
The initiative will assess Bitcoin as collateral, with JPYC handling settlements and security tokens managing investor rights.
The project remains in the research phase, with no issuance plans, launch date, or product terms finalized.
Metaplanet has launched a joint feasibility study with Metaplanet Securities, JPYC, and Progmat to examine Bitcoin-backed digital credit products in Japan. According to Metaplanet, the initiative will evaluate how Bitcoin, stablecoins, and security tokens could support digital corporate credit, while no issuance plans, launch date, or product terms have been finalized.
https://twitter.com/WuBlockchain/status/2075627066712875084?s=20
Study Focuses On Bitcoin And Tokenization
According to Metaplanet, the study will assess whether Bitcoin can serve as collateral or a credit enhancement tool. At the same time, JPYC stablecoins would handle payments and settlements, while security tokens would manage investor rights.
The companies also plan to examine blockchain-based corporate bonds and other digital credit instruments. Notably, the proposed framework includes continuous market access, on-chain settlement, and daily interest accrual for holders.
However, Metaplanet confirmed the project remains in the research stage. The company added that it has not approved any product issuance or finalized commercial terms.
Project Nova Drives The Initiative
The study forms part of Metaplanet's broader Project Nova strategy. According to the company, the initiative explores using Bitcoin as productive collateral on its balance sheet.
Project Nova also seeks to connect traditional capital markets with digital asset infrastructure in Japan. Additionally, the company said it aims to develop new yield products and improve capital market access for retail and institutional investors.
Earlier this year, Metaplanet announced plans to acquire Siiibo Securities before renaming it Metaplanet Securities. In March, the company also established Metaplanet Ventures to support Bitcoin-related businesses across Japan.
Company Expands Bitcoin Strategy
According to the information released, Metaplanet currently ranks as the world's third-largest corporate Bitcoin holder. The company holds 43,000 Bitcoin acquired for about $4.1 billion.
During the second quarter of 2026, Metaplanet purchased an additional 2,823 Bitcoin. The company said the average acquisition price reached about $78,850 per coin.
Meanwhile, the study follows growing interest in blockchain-based credit instruments. According to the released details, the companies will also review product design, proof-of-concept activities, and possible future issuance before making any further decisions.
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Hyundai Motor completed a live $20,000 USDT treasury transfer between its U.S. and Mexico subsidiaries in about seven minutes.
The pilot used the Avalanche blockchain and involved Hyundai Card, Tether, Avalanche, and payments firm Axiym.
Hyundai Card plans a second blockchain treasury transfer pilot in Europe using local currencies later this month.
Hyundai Motor has completed a live $20,000 USDT cross-border treasury transfer between its U.S. and Mexico subsidiaries using the Avalanche blockchain. Hyundai Card announced the proof of concept on July 9, saying the transaction settled in about seven minutes, compared with the three to four hours typically required through traditional banking channels.
Live Transfer Uses Stablecoins
Unlike a simulated blockchain test, the pilot involved actual corporate funds. According to Hyundai Card, Hyundai Motor America converted $20,000 into USDT before sending it to Hyundai Motor Mexico.
The receiving entity then converted the stablecoins back into U.S. dollars. Hyundai Card said the full transfer, including verification, averaged about seven minutes.
The proof of concept brought together Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and blockchain payments firm Axiym. Hyundai Card also led the review of accounting, tax, legal, and internal control requirements before the transaction.
Pilot Moves Beyond Technical Testing
According to Hyundai Card, the project focused on preparing stablecoins for actual treasury settlements between overseas subsidiaries. The company said it designed the remittance structure, operational process, and compliance framework before completing the live payment.
The company described the pilot as preparation for real implementation rather than a simple technology demonstration. Notably, the process addressed international remittance regulations alongside payment infrastructure requirements.
Hyundai Card also said the project established the foundation for future settlement and fund transfers across Hyundai Motor Group's international operations.
Europe Trial Planned This Month
Meanwhile, Hyundai Card confirmed a second proof of concept will begin later this month involving Hyundai Motor's European subsidiaries. Unlike the first test, the upcoming pilot will use local currencies instead of only U.S. dollars.
According to Hyundai Card, the second phase will examine blockchain-based transfers alongside foreign exchange costs and overall payment efficiency. Circle and Visa will participate as global partners during the European trial.
Hyundai Card said it will continue evaluating stablecoins for international remittances and payment infrastructure after completing both proof-of-concept projects. The company also plans to explore expanding the transfer mechanism to additional countries and local currencies.
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The White House said it asked Senate Democrats to recommend SEC and CFTC nominees but received no proposed candidates.
Officials highlighted several Democratic nominees selected by President Trump to counter claims of partisan appointments.
The dispute comes ahead of expected Senate consideration of the CLARITY Act and ongoing confirmation debates.
The White House has disputed Senate Democrats' claims that the Trump administration refused to nominate Democratic commissioners to the SEC and CFTC. In a July 9 letter sent to Senate leaders, White House officials said they requested Democratic recommendations for both agencies but had not received any names, as attention grows before expected Senate consideration of the Clarity Act.
White House Responds To Democratic Criticism
The letter, signed by Dan Scavino and James Braid, was addressed to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer. According to the White House, the correspondence aimed to correct what it described as inaccurate claims surrounding federal appointments.
The administration said it had already sought Democratic recommendations for vacancies at both the Securities and Exchange Commission and the Commodity Futures Trading Commission. However, the letter stated that no names had been submitted in response.
The response follows increasing calls from lawmakers in both parties to fill vacant minority commissioner seats. Those requests have intensified ahead of expected Senate action on the Clarity Act.
Administration Cites Democratic Nominations
The White House also rejected broader accusations that the administration refuses to nominate Democrats to independent positions. Instead, officials listed several Democratic nominees already selected by President Donald Trump.
According to the letter, Trump nominated David Prouty to the National Labor Relations Board. Additionally, he nominated Bartholomew Tanhauser and Samuel Negatu to the International Trade Commission.
The administration also highlighted Karen Jean Hedlund's nomination to the Surface Transportation Board. Officials presented those appointments as examples of bipartisan nominations despite ongoing criticism.
Senate Confirmation Process Addressed
The letter also focused on the Senate confirmation process during the 119th Congress. According to the White House, Senate Democrats have not approved any civilian nominee through unanimous consent.
The administration said Senate Republicans changed Senate rules in 2025 to speed confirmations after committee review. According to the letter, that process has resulted in the confirmation of 301 civilian, non-judicial nominees through bulk slates.
The White House also referenced the Supreme Court's ruling in Trump v. Slaughter while responding to criticism over bipartisan appointments. However, the administration maintained that it remains willing to continue working with the Senate on future nominations.
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Circle secured final OCC approval to launch First National Digital Currency Bank as Circle National Trust.
The new national trust bank will provide federally regulated digital asset custody under direct OCC supervision.
Circle said future plans include managing USDC reserves and expanding custody services for institutional clients.
Circle has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., which will operate as Circle National Trust. According to Circle, the approval places the new national trust bank under direct OCC oversight and expands USDC infrastructure through federally regulated digital asset custody, while reserve management remains a planned future capability.
OCC Charter Expands Federal Oversight
According to Circle, the OCC approved the national trust bank charter after the company submitted its application on June 30, 2025. The regulator later granted conditional approval in December 2025 before issuing the final authorization.
The new institution will operate under the name Circle National Trust. Notably, the OCC will directly supervise the bank as the primary regulator for national banks and national trust banks.
According to Circle, the charter strengthens USDC infrastructure by introducing federally regulated custody services. Additionally, the business plan includes future authority to manage the USDC Reserve under federal oversight.
Custody Services Come First
Upon opening, Circle National Trust will provide fiduciary digital asset custody services for Circle and its affiliates. However, the approved business plan also outlines possible future services for institutional clients.
According to the filing, the bank could later offer custody services to a limited number of banks and other financial institutions. The plan also mentions regulated derivatives organizations as potential customers, depending on market demand.
Jeremy Allaire, Circle's co-founder, chairman, and chief executive officer, said federal oversight establishes a framework focused on transparency, governance, and operational scale. He added that the approval gives financial institutions greater clarity when building on public blockchains.
Regulatory Milestones Continue
The latest approval adds to Circle's existing regulatory record across several jurisdictions. According to the company, it became the first business to receive a BitLicense from the New York Department of Financial Services in 2015.
Later, Circle became the first global stablecoin issuer to comply with the European Union's Markets in Crypto-Assets framework during 2024. The company also holds licenses in the United Kingdom, Singapore, and Bermuda, meets Canadian Value-Referenced Crypto Asset requirements, and secured a license from Abu Dhabi Global Market's Financial Services Regulatory Authority in 2025.
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Ethics provisions remain the main obstacle as senators negotiate final CLARITY Act language ahead of a possible July vote.
Law enforcement support for the BRCA remains mixed, with several organizations still withholding formal endorsement.
Senator Ron Wyden urged Senate leaders to retain BRCA protections for non-custodial blockchain software developers.
The Senate could take up the Clarity Act later this month, yet negotiations remain unfinished as lawmakers prepare to return from the July 4 recess. According to Crypto In America, discussions continue around ethics provisions and the Blockchain Regulatory Certainty Act (BRCA), while Senator Cynthia Lummis had expected updated compromise text during the recess before a possible floor vote.
Ethics Talks Remain The Biggest Hurdle
However, revised legislative text has not appeared despite Cynthia Lummis previously saying stakeholders would receive updated language during the recess. As a result, attention has shifted toward unresolved negotiations before senators return next week.
According to Crypto In America, several industry participants believe ethics language remains the central issue holding up the legislation. They argued that resolving ethics concerns could ease negotiations over other disputed sections.
Earlier discussions collapsed after Senate Republicans and White House officials withdrew support for a proposal involving state attorneys general. That proposal would have allowed states to sue the Department of Justice over enforcement failures involving conflicts of interest.
Lummis later suggested allowing state attorneys general to sue exchanges that list tokens issued by government officials. However, Democrats have not publicly indicated whether that alternative would gain support.
Law Enforcement Views Shape Senate Negotiations
Meanwhile, discussions have continued between Trump administration officials and law enforcement organizations over the BRCA. The provision remains one of the most closely watched sections of the bill.
According to Crypto In America, the National Organization of Black Law Enforcement Executives endorsed the legislation. Meanwhile, the Major County Sheriffs of America changed its position from opposing the bill to remaining neutral.
However, the National Sheriffs’ Association, National Association of Police Organizations, and the Fraternal Order of Police have not announced support. Their positions remain under close watch as negotiations continue.
Senators Catherine Cortez Masto and Mark Warner have indicated law enforcement concerns must receive adequate attention before they support the legislation.
Wyden Backs BRCA As Floor Vote Awaits
Meanwhile, Senator Ron Wyden urged Senate leaders to preserve the BRCA language approved by the Senate Banking Committee. Wyden and Lummis introduced the standalone measure in January.
Wyden said the provision would confirm that non-custodial software developers should not qualify as money transmitters solely for publishing software. He also said the Department of Justice and FinCEN would retain authority to pursue illegal activity.
However, Wyden's position on the broader Clarity Act remains uncertain after opposing both the GENIUS Act and the resolution overturning the IRS DeFi broker rule. Meanwhile, Senator Thom Tillis has also said ethics language must remain part of the legislation before he supports it.
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Ethereum rebounds from long-term channel support while buyers await confirmation above major descending resistance levels ahead.
Liquidation activity has normalized, reducing excessive leverage while preserving room for healthier directional price movement.
Intraday strength lifted Ethereum above $1,770 as buyers defended support and maintained improving short-term momentum.
Ethereum Outlook remains constructive as improving technical conditions and balanced derivatives positioning place market attention on a critical resistance area that could determine the next broader trend.
Descending Channel Keeps Ethereum at a Turning Point
Crypto markets focused on Ethereum after a chart shared on social media gained attention. The analysis described Ethereum approaching a decisive technical moment. Price recently rebounded from long-term descending channel support.
https://twitter.com/MarzellCrypto/status/2075444403003392479?s=20
The chart continues reflecting a broader bearish market structure. Lower highs and lower lows remain visible across the channel. Descending resistance still controls the higher-timeframe trend.
Recent price action differs from previous recovery attempts inside the structure. Buyers defended channel support during two consecutive tests successfully. Those reactions suggest demand has strengthened around major technical support.
The published analysis stated a breakout above descending resistance changes market structure. Such confirmation would invalidate the existing bearish channel. Traders continue monitoring that resistance before shifting broader expectations.
Liquidation Trends Suggest Healthier Market Conditions
Ethereum's derivatives market has changed considerably since January's liquidation event. Long liquidations previously approached one billion dollars during sharp weakness. That cascade removed excessive bullish leverage from futures markets.
Liquidation activity declined noticeably throughout February and March afterward. Both bullish and bearish positions remained relatively balanced. Price also stabilized without experiencing another extreme liquidation event.
Source: Coinglass
Moderate liquidation clusters returned during May and early June. Those moves primarily affected leveraged long positions during pullbacks. Even so, liquidation totals remained below January's exceptional readings.
Recent activity reflects a more balanced derivatives environment overall. Long and short liquidations alternate without overwhelming either market direction. That balance reduces immediate risks from excessive leveraged positioning.
Buyers Defend Momentum Above Key Intraday Levels
Intraday trading showed Ethereum recovering after spending hours inside a narrow range. Buyers regained momentum during the evening trading session. The breakout lifted the price above earlier resistance levels.
Ethereum as of writing, trades at $1,777.21, gaining 1.82% over the previous 24 hours. Market capitalization stands at $214.84 billion despite softer trading activity. Volume for the 24-hours totalled $8.55 billion, down 12.64% from the previous session.
The latest price rise was accompanied by a reduction in trading volume. That combination suggests measured buying rather than aggressive speculative participation. Stronger participation could reinforce the recent breakout further.
Holding above the recent breakout zone remains the immediate technical objective. Sustained strength would support continued recovery attempts toward channel resistance. Market attention now remains fixed on whether Ethereum can complete the anticipated trend reversal.
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Terra rebounds from early weakness as buyers defend key support, though lower trading volume limits confidence behind the latest recovery.
Historic Terra collapse remains a cautionary reference despite current stabilization, emphasizing structural risks over institutional backing.
Resistance near recent highs remains critical, while support continues attracting buyers after absorbing aggressive selling pressure successfully.
Terra remains under close market scrutiny as traders assess recovery efforts after an early selloff, while historical comparisons continue shaping expectations around risk management and near-term price direction.
Terra Recovery Builds After Early Selling Pressure
Crypto Patel revisited Terra's collapse through a detailed historical review and funding summary. The post contrasted massive institutional backing with one of crypto's fastest market failures. The comparison centered on capital preservation instead of speculative returns.
Source: X
The accompanying long-term chart illustrated Terra's dramatic collapse during May 2022. Price never recovered after the UST depegging triggered hyperinflation. Extended sideways trading reflected lasting damage to market confidence.
The funding graphic indicated that more than $200 million were raised by Terraform Labs from investors. Further ecosystem investment of $150 million, followed by several strategic investments, were made. Capital support failed to prevent the protocol's structural breakdown.
Crypto Patel also referenced venture firms backing the project before its collapse. Those investments demonstrated confidence before the ecosystem failed. Institutional participation ultimately offered no protection against flawed tokenomics.
Intraday Chart Signals Gradual Improvement
Terra as of the time of writing, traded around $0.04821 after recovering from earlier intraday weakness. The token posted a modest daily gain despite sharp opening volatility. Buyers gradually regained control following heavy initial selling.
Source: Coinmarketcap
The chart showed price falling quickly toward the $0.0468 support region. Buying interest emerged immediately after that decline. Sellers gradually lost momentum as demand strengthened.
Recovery developed through a sequence of higher lows across the session. Price steadily reclaimed lost ground without producing an impulsive breakout. That structure reflected measured accumulation instead of aggressive speculation.
Resistance now remains close to the recent intraday highs near $0.0483. Meanwhile, support continues holding around the earlier session low. Traders remain focused on whether buyers can extend the recovery.
Volume Trends and Historical Lessons Stay Relevant
Trading volume declined sharply compared with the earlier session. Lower participation suggested cautious market engagement despite improving price action. Stronger activity may be needed before momentum strengthens further.
The circulating supply stands near 709.98 million tokens from 1.18 billion total supply. Terra also carries a fully diluted valuation near $57.21 million. The project continues operating without a maximum supply limit.
The post connected Terra's collapse with broader market disruptions across the industry. The event affected major crypto firms during the following months. Those developments transformed an isolated failure into a wider market crisis.
The review also reinforced disciplined portfolio management during volatile market cycles. Large gains can disappear rapidly during structural failures. Traders continue monitoring Terra's technical recovery while remembering those historical lessons.
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ROAD TOWN, British Virgin Islands, July 11, 2026 /PRNewswire/ -- AFX, a high-performance sovereign L1 purpose-built for decentralized derivatives, today announced a landmark operational milestone: surpassing $1.1 billion in cumulative trading volume during its initial period of operation. This rapid ascent is supported by over 8.6 million total trades, positioning AFX as one of the fastest-growing decentralized derivatives platforms in the 2026 Web3 landscape.
The most distinctive feature of AFX's growth is its superior capital efficiency. While many decentralized protocols rely on massive Total Value Locked (TVL) to attract volume, AFX has achieved its $1.1 billion milestone with a lean TVL of approximately $23.4 million.This exceptionally high volume-to-TVL ratio underscores the platform's advanced liquidity architecture and its appeal to professional high-frequency traders who demand deep order books and sub-100ms execution without the friction of legacy DeFi systems.
"Reaching $1.1 billion in volume so quickly validates our vision of a high-velocity, community-centric financial infrastructure," said Ken C, Head of Growth at AFX. "AFX is not just another DEX; it is a demonstration of how institutional-grade liquidity can thrive in a fully decentralized, sovereign environment. By allocating 65% of the token supply to the community, we are ensuring that the value generated by this high-performance engine is returned to the builders and traders who power it."
Currently, AFX is in the midst of its Season 1 Rewards program, featuring a 475,000 weekly points pool to incentivize liquidity providers and guild participants. The platform's LP Vaults (ALP) continue to deliver robust performance, offering an approximately 11% APY derived directly from actual protocol fees. As AFX continues to scale its 39 listed markets, including crypto leaders and synthetic TradFi assets, the protocol remains committed to bridging the gap between centralized performance and decentralized sovereignty.
About AFX
AFX is a high-performance sovereign L1 purpose-built for decentralized derivatives. By synthesizing the rapid execution of a centralized exchange with the immutable sovereignty of blockchain, AFX delivers a professional-grade Perp DEX environment characterized by sub-100ms finality, institutional liquidity, and unmatched capital efficiency.
Product availability varies by jurisdiction.
Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.
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New York, USA, July 10th, 2026, Chainwire
TrueDAO announced today the completion of a $10 million strategic funding round. The round was led by Brevan Howard Digital, with participation from Zee Prime Capital and Jump Capital. The proceeds will primarily fund core AI protocol development, AI-driven risk control, security audits, global compliance efforts, and the expansion of ecosystem partnerships.
The journey to this milestone began a year ago when the TrueDAO team set out to build a decentralized financial infrastructure driven by smart contracts, on-chain reserves, dynamic adjustment mechanisms, and community governance. The initiative aimed to address challenges in the traditional crypto industry regarding yield sustainability, risk response, reserve transparency, and governance efficiency; since then, the team has successfully developed the core protocol architecture.
TrueDAO is not designed for a single blockchain application; instead, it aims to serve as a modular financial infrastructure, providing global ecosystem projects with liquidity management, reserve management, risk alerts, yield distribution, and governance support.
This funding round will focus on five key areas: refining smart contracts and protocol modules; building AI-driven risk monitoring and stress-testing systems; implementing independent security audits, real-time monitoring, and bug bounty programs; advancing legal and compliance assessments across various jurisdictions; and releasing developer documentation while expanding ecosystem partnerships.
SoLee, Head of Marketing at TrueDAO stated "Raising $10 million is a significant milestone, but it is not the finish line. While capital accelerates development, it cannot replace security, transparent governance, and genuine value creation. We remain committed to building an on-chain financial infrastructure that is auditable, verifiable, and governable."
Following the funding, TrueDAO will advance its testnet launch, security audits, developer tools, and ecosystem integration plans, while disclosing protocol operations and reserve data in phases. Specific launch dates, token arrangements, and incentive mechanisms will be subject to official announcements and applicable laws.
About TrueDAO
TrueDAO is an AI-driven decentralized autonomous financial infrastructure project. It is dedicated to building an open, transparent, and composable on-chain financial system through the integration of smart contracts, on-chain data, AI risk analysis, dynamic value adjustment, protocol reserves, and DAO governance.
TrueDAO Website: www.truedao.ai
ContactTrueDAO
info@truedao.ai
Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.
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BNB Chain recorded 10 million daily transactions and 15 million monthly stablecoin addresses, reflecting expanding network participation.
BNB broke through the critical support level, and RSI bounced back from below 50, signaling bulls to take over the short-term market.
Stablecoin growth and rising transaction activity continue reinforcing BNB Chain's expanding utility across payments and digital finance.
BNB continues attracting attention as expanding stablecoin activity coincides with improving technical conditions, while blockchain usage data and market structure indicate strengthening participation across the broader ecosystem.
BNB Chain Strengthens Stablecoin Leadership
Recent ecosystem data points to growing stablecoin adoption across the BNB Chain. The latest figures focus on transaction growth and expanding user participation. Network activity continues increasing beyond speculative trading.
A recent social media update outlined several adoption milestones. The post cited approximately 10 million average daily transactions. It also reported nearly 15 million monthly active stablecoin addresses.
https://twitter.com/FriedrichBtc/status/2075080533877420388?s=20
Supporting charts indicate four of 2026's fastest-growing stablecoins operate within BNB Chain. USYC recorded roughly $1.53 billion in net supply growth. USDY and USD1 also posted substantial expansion during the measured period.
Most of those stablecoins retain between 87% and 97% ecosystem concentration. This reflects deep liquidity across the network. It also demonstrates increasing demand for digital dollar infrastructure.
Network Activity Reinforces Ecosystem Expansion
The accompanying research shows BNB Chain controls roughly 24% of active stablecoin addresses. Address growth has advanced steadily since 2021. The trend reflects sustained participation instead of isolated activity spikes.
The same research notes more than 5.3 billion stablecoin transactions since 2025. Those transfers extend beyond decentralized trading activity. Payments, remittances and treasury movements increasingly contribute to network usage.
The charts also indicate expanding stablecoin diversity across the ecosystem. New products continue attracting additional liquidity. Growing asset availability encourages broader blockchain participation.
These metrics collectively point toward strengthening network effects. Additional users attract more liquidity providers and issuers. Greater activity then supports further transaction growth across the ecosystem.
BNB Technical Structure Shows Recovery Attempt
The 4-hour chart presents buyers attempting to stabilize recent weakness. BNB as of writing,trades around $573.96 after recovering from earlier selling pressure. The rebound follows support near the $560-$565 region.
Source: TradingView
Previous price action developed inside a rising channel before breaking lower. Sellers regained temporary control after resistance near $590-$600. That decline interrupted the earlier bullish structure.
Momentum indicators now show improving conditions despite remaining cautious. MACD remains slightly negative while bearish momentum continues fading. Meanwhile, RSI recovered above 50 after rebounding from weaker readings.
Resistance remains positioned between $580 and $585 following repeated rejections. A move beyond that area could reopen the path toward $590-$600. Otherwise, support around $567-$560 remains essential for maintaining the ongoing recovery structure.
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Ondo Global Markets recorded about $26 in weekend execution costs for a $100,000 tokenized CRCL trade.
Industry average execution costs reached roughly $1,168 for the same weekend tokenized CRCL transaction size.
Cost comparisons showed wider savings as trade sizes increased across continuous blockchain settlement infrastructure.
On-Chain Trading gained attention after fresh data compared weekend execution costs, showing notable differences between blockchain-based infrastructure and broader industry trading platforms for tokenized CRCL transactions.
Weekend Cost Comparison Reveals Large Gap
Whale Factor shared the execution comparison through a recent social media post. The figures focused on weekend tokenized CRCL transactions. The comparison covered both smaller and larger trade sizes.
Source: X
A $10,000 trade produced minimal costs through Ondo Global Markets. Execution measured approximately 0.94 basis points, or $0.94. Industry competitors averaged around 23 basis points, totaling roughly $23.
The difference widened considerably with larger transactions. A $100,000 trade cost approximately $26 through Ondo. Industry averages reached nearly $1,168 for identical transaction sizes.
Whale Factor described the difference as nearly forty-six times lower. The comparison emphasized trading infrastructure rather than asset performance. Market attention shifted toward execution quality during weekends.
Continuous Settlement Supports Lower Costs
The published chart compared basis-point costs across different platforms. Green bars represented Ondo Global Markets' lower execution expenses. Red bars illustrated considerably higher industry averages.
Continuous blockchain settlement remained central to the presented comparison. Traditional market schedules often limit trading during weekends. Blockchain infrastructure allows uninterrupted transaction processing throughout the week.
Execution costs included more than direct trading fees. Pricing efficiency and spreads also influenced total transaction expenses. Basis-point differences reflected the complete execution environment.
The comparison suggested larger trades benefited from improved efficiency. Ondo's costs increased only modestly with trade size. Industry expenses expanded substantially as transaction values increased.
Tokenized Markets Continue to Evolve
The analysis focused specifically on tokenized CRCL trading activity. Tokenized assets continue expanding across blockchain financial markets. Infrastructure quality remains an important consideration for market participants.
The post argued that outdated execution models increase trading expenses. The post referred to these additional costs as an inconvenience tax. Continuous trading aimed to reduce those additional charges.
The reported figures compared retail-sized and institutional-sized transactions. Both trade categories favored blockchain-based execution infrastructure. Larger orders displayed the widest cost differences during weekend trading.
The published comparison centered entirely on execution efficiency. Asset price performance was not included within the presented data. Instead, the figures measured trading costs across competing market infrastructure.
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Galaxy Research said a redeemed 2013 Casascius Bitcoin triggered two valid alerts after returning to the same address in one block.
The rare event occurred because two separate transactions with different IDs involved the same monitored wallet.
The redemption also moved two one-satoshi dust deposits before Bitcoin continued trading near key support levels.
A 2013 Casascius 1 BTC coin generated an unusual onchain event after its redemption triggered two separate alerts within the same Bitcoin block, according to Galaxy Research. The event occurred when the redeemed Bitcoin briefly returned to the same legacy address before moving again, creating two valid transactions that involved the monitored wallet and prompting Galaxy's tracking system to issue two alerts.
Two Transactions Trigger Separate Alerts
According to Galaxy Research, the redeemed Bitcoin did not leave the address permanently after the first transaction. Instead, the proceeds returned to the same legacy address before another transaction spent them again within the same block.
Because Galaxy's alert system identifies activity using both the transaction ID and wallet address, each transaction produced a separate alert. The research team said the notifications were not duplicates because each transaction carried a different transaction ID.
Galaxy also explained that its protection against repeat notifications only blocks alerts in subsequent blocks. It does not suppress multiple alerts generated inside a single block, making this an uncommon address reuse case.
Galaxy Head of Research Alex Thorn described the activity as unusual. However, he said the firm had no broader explanation beyond monitoring blockchain activity as it occurs.
Dust Transactions Add Another Detail
Galaxy Research noted the legacy address had received two separate one-satoshi dust transactions before the redemption. Those tiny deposits remained in the wallet until the coin moved.
The redemption transferred 1.00000002 BTC, including the dust. According to Galaxy, 0.99899300 BTC then returned to the same address before another transaction spent it again, creating the second alert.
Bitcoin Holds Near Key Support
Meanwhile, Bitcoin traded near $62,900 during the event. The chart showed the asset recovering modestly after falling toward the $59,000 area earlier.
However, the 50-day moving average remained below the declining 200-day moving average, indicating the broader trend stayed bearish. Immediate support stood near $60,000, followed by $57,800. Meanwhile, resistance appeared around $67,900, then $72,900, with stronger resistance near the 200-day moving average between $76,000 and $78,000.
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Ripple's five-year deal makes XRP the first cryptocurrency to appear on jerseys of a major NCAA Division I athletics program.
The XRP logo will appear on Kansas Jayhawks football, men's basketball, women's basketball, and other athletic uniforms.
The partnership also includes financial literacy programs, technology education, and career opportunities for University of Kansas students.
Ripple has signed a five-year partnership with the University of Kansas, placing the XRP logo on Jayhawks athletic uniforms. Kansas Athletics announced the agreement after the NCAA allowed corporate logos on Division I uniforms beginning in August 2026. According to the university and Ripple, the deal makes XRP the first cryptocurrency to appear on the jerseys of a major NCAA Division I athletics program while expanding an existing relationship between both organizations.
XRP Heads to Kansas Athletics Uniforms
Kansas Athletics said the XRP patch will appear on football, men's basketball, women's basketball, and other Jayhawks uniforms. The agreement was arranged through Learfield and Jayhawk Sports Properties, which manages the university's sponsorship portfolio.
Athletic Director Travis Goff said the partnership reflects a shared commitment to innovation. He added that the agreement connects Kansas Athletics with the broader technology sector through Ripple.
Ripple CEO Brad Garlinghouse also highlighted the announcement on X. Garlinghouse, a University of Kansas economics graduate born in Topeka, described the partnership as a rare moment where his professional career and alma mater came together.
Football coach Lance Leipold, men's basketball coach Bill Self, and women's basketball coach Brandon Schneider also welcomed the collaboration, citing the university's focus on innovation.
Partnership Extends Beyond Branding
Kansas Athletics said the agreement includes financial literacy and technology education programs for student-athletes and the wider university community. Ripple also plans to expand career opportunities by connecting Kansas graduates with technology industry employers.
The partnership builds on existing ties between both organizations. The University of Kansas already operates an official XRP Ledger validator through its engineering school, making it an active participant in the XRP ecosystem.
NCAA Rule Opens New Sponsorship Category
The NCAA approved corporate logos on Division I uniforms in January 2026, allowing schools to begin displaying them from August. Kansas became one of the first universities to announce a jersey sponsorship under the new policy.
According to the information released, Ripple's agreement marks the first cryptocurrency jersey partnership involving a major NCAA Division I athletics program. Following the announcement, XRP declined 1.55%, while futures open interest increased modestly, indicating higher trading activity despite the price movement.
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