Governor Rhee Warns of Forex Challenges Despite Policy Support South Korea’s central bank is not opposing the development of a won-pegged stablecoin, but concerns about foreign exchange volatility remain a key challenge. Speaking at a recent press event, Bank of Korea Governor Rhee Chang-yong noted that while he isn’t against issuing a domestic stablecoin, such an asset might increase reliance on dollar-based tokens rather than reducing their influence. “Issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin,” Rhee said, according to a Reuters report. Forex Reserves Falling:…
Author: Blockto Team
NEAR Surges While Broader Market Stalls NEAR Protocol posted a 4.5% gain, climbing from $2.124 to $2.173 over the past 24 hours, defying broader market hesitation driven by escalating geopolitical tensions in the Middle East. As traditional risk assets face downward pressure, NEAR stands out with sustained buyer interest and strengthening technical support. The ongoing conflict between Iran and Israel has intensified volatility across global financial markets, including crypto. Yet, NEAR has demonstrated notable resilience, supported by strong trading activity and renewed investor confidence. Strong Support Around $2.11–$2.12 Zone Technical indicators show firm support forming around the $2.110–$2.120 range, where…
Investigators Warn of Growing Scam Culture Amid Regulatory Inaction The crypto industry is entering a dangerous “crime supercycle,” say top blockchain sleuths ZachXBT and Taylor Monahan, as politicians embrace memecoins and U.S. regulators drop key crypto-related court cases. ZachXBT posted Thursday on X, highlighting that while crypto has always had its share of fraud, the rate of abuse has sharply increased since political figures began promoting memecoins and high-profile legal actions were dismissed. “Numerous court cases were dropped, politicians launched memecoins, and influencers scam with zero consequences,” he said. Politicians and Influencers Fuel the Fire The warning follows a surge…
XRP Enters Tight Range Amid Legal and Market Uncertainty XRP is trading near $2.15, consolidating within a symmetrical triangle pattern as traders eye a possible breakout. The token’s 24-hour range between $2.135 and $2.186 reflects a 2.38% volatility, with signs of compression that often precede significant price moves. Despite continued macroeconomic headwinds and Ripple’s unresolved legal battle with the U.S. SEC, XRP is showing strong technical structure, anchored by support at the 38.2% Fibonacci retracement level, drawn from January’s high of $3.39. Symmetrical Triangle Suggests Imminent Market Move Current price action is forming a classic symmetrical triangle, with support around…
House Bill 2324 Returns for Second Vote After Initial Rejection The Arizona Senate has revived House Bill 2324, a proposal aimed at creating a “Bitcoin and Digital Assets Reserve Fund.” This comes after the bill was previously rejected during its third reading in the Arizona House on May 7. On June 20, the Senate voted 16-14 in favor of reconsidering the measure, sending it back to the House for another vote. The revival was made possible by a procedural motion from Senator Jane Shamp, the only Republican who had originally voted against the bill. Under state rules, only a legislator…
Institutional Backing Grows, But Price Action Remains Bearish Solana’s native token, SOL, slipped below the key $144 support level, closing at $143.38 on June 18 — a 1.21% decline from the previous session. This drop occurred even as Canadian blockchain firm Sol Strategies made headlines by filing with the SEC to list on Nasdaq under the ticker STKE, reinforcing its long-term bullish stance on the Solana ecosystem. Sol Strategies Holds Over $61 Million in SOL In its filing, Sol Strategies revealed it holds more than 420,000 SOL tokens, currently valued at over $61 million. The firm has made SOL a…
New Threat Targets Blockchain Workers Using Fake Interviews and Python-Based Malware North Korean-linked cybercriminals have launched a targeted phishing campaign aimed at crypto professionals, using fake job interviews and malicious software to steal wallet credentials and password manager data. According to a recent report by Cisco Talos, the malware — dubbed PylangGhost — is a Python-based remote access trojan (RAT) linked to the threat group Famous Chollima, also known as Wagemole. This hacking collective has a documented history of targeting crypto industry insiders, often under the guise of job recruitment. Fake Job Sites Mimic Major Crypto Firms Attackers use fraudulent…
Low Volatility Triggers Diverging Analyst Outlooks Bitcoin (BTC) is trading steadily above $104,000, showing minimal price movement despite rising geopolitical tensions in the Middle East. While this calm may seem like strength, a growing number of analysts are voicing concern about the implications of declining demand and reduced market participation. Over the past week, BTC dropped just 2%, holding its ground amid external pressures. Yet, behind this quiet façade, on-chain data and trading flows are revealing deeper concerns. CryptoQuant Flags Bearish Risk: BTC to $92K or Lower In a report dated June 19, CryptoQuant issued a strong warning: if current…
Cosmos Token Recovers Despite Geopolitical Pressure The Cosmos (ATOM) token has demonstrated notable resilience, rebounding from recent lows to establish a new support zone between $3.994 and $4.000. This comes as broader crypto markets grapple with uncertainty fueled by geopolitical tensions in the Middle East. Despite the volatility, ATOM maintained a steady recovery pattern, indicating renewed buying interest around key psychological levels. The rebound from a session low of $3.939 to stabilize near $4.001 signals cautious optimism among traders. Technical Overview: Support and Resistance Formations Over a 24-hour period, ATOM-USD fluctuated within a range of $0.121, equating to a 3.05%…
Polymarket Signals Strong Confidence in GENIUS Act Passing According to prediction platform Polymarket, there’s currently an 89% chance that the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) will become law by 2026. This forecast follows the bill’s strong showing in the US Senate, where it passed in a 68-30 vote earlier this week. The market was launched approximately 18 hours after the Senate vote, reflecting growing optimism among crypto stakeholders and political analysts that the US is moving closer to clear regulatory frameworks for stablecoins. Next Stop: House of Representatives The bill now moves to the House…