Internet Computer (ICP) faced sharp selling pressure this week, falling nearly 6% in 24 hours as broader altcoin weakness swept across the crypto market. Despite a promising new partnership, ICP dropped below key psychological and technical levels. ICP Price Slips to $5.81 Before Minor Rebound On Tuesday, ICP declined from a high of $6.22 to a session low of $5.81, settling near $5.91 by the end of the day. The 4.85% drop marks one of the largest single-day losses for ICP in July, highlighting persistent pressure on mid-cap tokens. The decline came amid high-volume liquidations, with more than 1.3 million…
Author: Blockto Team
Binance Coin (BNB) experienced a minor setback this week, losing 1.5% in value amid market turbulence. Despite holding critical support, BNB was overtaken by Solana (SOL) in market capitalization — a significant shift in the race for crypto dominance. BNB Faces Resistance at $770 Earlier this week, BNB attempted a breakout near $780, but heavy selling pressure caused a swift rejection at the $770 resistance level. According to CoinDesk Research, a $34.87 trading range formed quickly, with nearly 12,000 BNB tokens traded in a single hour — suggesting institutional liquidations and panic-driven retail activity. BNB is now trading around $765,…
JPMorgan Chase, the world’s largest bank by assets, is reportedly exploring the issuance of bitcoin-backed loans, marking a major milestone in the convergence of traditional finance and digital assets. This development could revolutionize the crypto lending landscape, long dominated by native crypto institutions. What Are Crypto-Backed Loans? Crypto-backed loans allow users to leverage their digital assets like Bitcoin (BTC) or Ethereum (ETH) as collateral in exchange for fiat currency. These loans are often overcollateralized to protect lenders from volatility risk. JPMorgan’s potential entry into this market signals growing institutional confidence in the long-term value of cryptocurrencies as stable collateral. A…
The U.S. Securities and Exchange Commission (SEC) approved a proposal to convert the Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF) — but immediately placed the decision on hold. This move marks another twist in the evolving landscape of U.S. crypto ETF regulation. Bitwise BITW ETF Approval Followed by Sudden Delay Bitwise’s BITW fund, launched in 2017, manages over $1.68 billion in assets. It holds 90% of its weight in Bitcoin and Ethereum, while the rest is diversified across major altcoins including Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Uniswap, and Polkadot. The SEC’s temporary approval,…
The memecoin sector has seen remarkable activity in July, with $PUMP token emerging as a notable name on the Solana blockchain. Initially launched with strong momentum, the token has since undergone intense volatility due to a combination of market correction and early-investor selloffs. What Is $PUMP Token and Why It Gained Attention $PUMP is the native token of a newly popular Solana-based meme launchpad, designed to support fair-launch crypto projects. At launch, it attracted speculative traders due to its low entry price and viral marketing. The token surged from an initial price of $0.004 to an early high of $0.012,…
The UK government has raised concerns over crypto firms failing to report breaches of financial sanctions, highlighting gaps in compliance and increasing cyber threats from state-linked hackers. A newly released threat assessment by the Office of Financial Sanctions Implementation (OFSI) reveals that underreporting has likely persisted since 2022. Crypto and Sanction Breaches: Growing Regulatory Scrutiny in the UK According to the OFSI, many UK-based crypto asset firms are unintentionally failing to meet reporting obligations. These obligations have been in place since August 2022, following widespread sanctions on Russia after its invasion of Ukraine. The OFSI report outlines that a significant…
Altcoin Rally Ends as NEAR Breaks Support Amid Market Volatility NEAR Protocol faced heavy losses on July 22 as the broader market shifted focus back to Bitcoin’s recovery, ending the short-lived altcoin surge. The token declined 6% over 24 hours, falling from $3.07 to $2.88, as key support levels failed under intensified selling pressure. The 24-hour trading range was $0.21 — nearly 7% in volatility — reflecting heightened uncertainty among investors. Final-Hour Breakdown Highlights Bearish Momentum In the final hour of trading, NEAR slid further from $2.95 to $2.89, cementing a clear shift in sentiment. Two sharp volume spikes at…
Solana-Based BONK Token Holds Firm Amid 8% Price Swing BONK, the popular Solana-based memecoin, faced heightened volatility between July 21 and July 22, registering a price range between $0.0000328 and $0.0000358 — an 8% intraday swing. Despite closing the 24-hour period down by 4%, BONK showed notable strength by defending the critical support level at $0.000033, backed by surging trading volume. Over 100 billion BONK tokens were traded during the support test, signaling strong buyer presence at lower price levels. Institutional Activity Boosts Sentiment Investor attention intensified following a significant move by Galaxy Digital, which transferred $11.4 million worth of…
U.S. Department of Justice Ends Nonprofit Probe Into Crypto Executive The U.S. Department of Justice (DOJ) has officially ended its investigation into Kraken co-founder Jesse Powell, clearing him of allegations related to a nonprofit arts organization. The decision brings relief after a year-long probe that had raised questions about the crypto veteran’s personal and professional standing. The DOJ had been investigating Powell over claims he hacked and cyber-stalked a nonprofit arts group, but no charges were filed. Powell’s Home Searched in 2023, Devices Seized The investigation dates back to 2023, when federal authorities searched Powell’s Los Angeles residence and confiscated…
SOL Leads Layer-1 Rally Amid Renewed Investor Optimism Solana (SOL) posted a 3.6% daily gain, outperforming most major cryptocurrencies and helping lift broader crypto indices. Trading above $177, the asset has continued its steady uptrend this week, fueled by improved sentiment and rising on-chain activity. Solana’s Surge Fueled by DeFi, NFT Activity and Staking Demand A combination of higher staking participation, rising DeFi total value locked (TVL), and robust NFT sales volume has supported Solana’s recent gains. According to blockchain data aggregators, Solana’s TVL rose over 5% week-on-week, signaling growing developer and user confidence in the network. Staking yields on…