ATOM Faces 5% Volatility Swing Despite Late Bounce Cosmos (ATOM) experienced significant price volatility between June 30 and July 1, falling below the psychological $4.00 level as broader market uncertainty and profit-taking weighed on the altcoin. ATOM dropped as low as $3.98 before staging a modest recovery to $4.024, marking a 5.1% trading range within 24 hours. Resistance and Support Levels: $4.02 and $3.98 in Focus During the observed trading window from June 30, 15:00 to July 1, 14:00, ATOM formed a clear resistance zone between $4.16 and $4.18, where volume peaked at over 804K during the 19:00 hour. Sellers…
Author: Blockto Team
ECB Commits to Blockchain-Based Payment Innovations The European Central Bank (ECB) has officially approved the launch of two major initiatives focused on settling transactions using Distributed Ledger Technology (DLT). The decision marks a significant step forward in the digital evolution of financial market infrastructure across the eurozone. The ECB aims to settle DLT transactions using central bank money, ensuring trust, safety, and efficiency in future payment systems. Two-Pronged Approach: “Pontes” and “Appia” Projects The ECB’s roadmap includes both short- and long-term projects: Both projects reflect the ECB’s commitment to innovation without compromising the safety or efficiency of financial systems. DLT…
NY Attorney General Warns Against Rushed Stablecoin Legislation New York Attorney General Letitia James has issued a stark warning to Congress regarding the GENIUS Act, formally known as the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025. In an eight-page letter, James stated that the bill “does not contain the necessary guardrails to protect the American public.” She urged lawmakers to slow the legislative process and draft a balanced framework that fosters innovation while safeguarding financial systems. Digital Identity and Bank-Like Oversight Proposed for Stablecoin Issuers Among the most significant proposals in James’ letter is the requirement for…
NEAR Token Declines Amid Market Uncertainty and Governance Concerns NEAR Protocol (NEAR) fell 2% over the past 24 hours, declining from $2.14 to $2.09, as volatility increases across the altcoin market. The price action reveals bearish momentum, though short-term recovery signals are emerging. NEAR’s trading range spanned from a high of $2.19 to a low of $2.08, creating a 5% volatility band. Key Support Zone at $2.08-$2.10 Under Pressure Technical indicators show a significant support level forming between $2.08 and $2.10, with multiple rebounds occurring in this zone. During a 7-hour session, NEAR consistently bounced from $2.08 despite ongoing selling…
Crypto Market Reacts to Profit-Taking and Tech Sector Weakness After reaching its highest-ever monthly close above $107,000, Bitcoin price dropped to $105,800 on Tuesday as profit-taking kicked in. The pullback comes amid a broader decline in risk assets, particularly U.S. tech stocks, which dragged down overall market sentiment. Bitcoin fell about 1% over the past 24 hours, currently trading near $106,175. Tech Stock Decline Impacts Crypto Markets The Nasdaq composite index declined by 0.6% after sharp losses in major tech stocks like Tesla (TSLA) and Nvidia (NVDA). Tesla fell over 5.4% in afternoon trading due to political tensions and spending…
Democrat James Walkinshaw has won the party primary for Virginia’s 11th Congressional District, bolstered by over $1 million in support from a crypto-affiliated political action committee, signaling growing influence of the digital asset sector in U.S. politics. Crypto Money Helps Secure Primary Victory The Protect Progress PAC, affiliated with the Fairshake super PAC, spent more than $1 million in June on media campaigns backing Walkinshaw’s bid. Fairshake is primarily funded by crypto industry leaders including Coinbase and Ripple Labs, and is a vocal supporter of candidates seen as pro-crypto and pro-innovation. The Democratic firehouse primary was held to fill the…
XRP has been a top contender in crypto price forecasts, with analysts eyeing a $3+ breakout in 2025. However, one technical pattern forming on XRP’s chart could derail these bullish expectations — unless strong fundamental catalysts intervene. XRP Forms a Descending Triangle: A Historically Bearish Setup XRP is currently forming a descending triangle, a chart pattern that is typically bearish in nature. This structure features lower highs and a flat support zone, often indicating that sellers are gaining control. XRP is trading around $2.18, with the key support zone sitting between $1.80 and $2.00. If this level fails to hold,…
The U.S. Senate has narrowly passed President Donald Trump’s ambitious federal budget bill — but without the inclusion of a proposed crypto tax provision, dashing short-term hopes for regulatory clarity and relief within the digital asset sector. No Crypto Amendment in the Senate’s Budget Vote Despite last-minute lobbying efforts by the crypto industry, Senator Cynthia Lummis’s proposed crypto tax reform was not among the amendments voted on during the late-night Senate session. Her amendment had aimed to: The budget bill — dubbed the “One Big Beautiful Bill” — passed on a 50-50 Senate vote, with Vice President J.D. Vance casting…
South Korea is taking a bold step toward digital currency adoption. Upbit, one of the country’s largest crypto exchanges, is reportedly collaborating with Naver Pay, a major online payments platform, to develop a Korean won (KRW) stablecoin, according to local media reports. KRW Stablecoin to Boost Payments and Reduce “Kimchi Premium” The planned stablecoin — pegged 1:1 to the South Korean won — is set to transform digital payments and crypto trading in Korea. One key motivation is to reduce the “kimchi premium,” a pricing gap that frequently arises between South Korean exchanges and global platforms due to capital control…
Bitcoin Cash (BCH) has staged a sharp rally, jumping more than 5% in the past 24 hours and outperforming both Bitcoin (BTC) and the broader crypto market. This recent surge comes amid a notable technical breakout, drawing trader attention despite weak on-chain fundamentals. BCH Price Rallies Amid Market Weakness Bitcoin Cash’s price soared from $491.25 to $528 in the early hours of July 1, marking its highest level since mid-December 2024. At press time, BCH was trading around $518.27, still up over 5% on the day. The rally is supported by a tripling in trading volume, with over 120,000 BCH…