Ethereum (ETH) has shown notable price resilience in recent weeks, outperforming the broader cryptocurrency market by 17% over the last 30 days. While ETH has struggled to break above the $2,700 resistance since May 13, it continues to hold the majority of its weekly gains — even as Bitcoin (BTC) and altcoins face increased selling pressure. Futures Market Shows Strong Confidence in ETH ETH’s futures markets remain robust, with the 2-month annualized premium hovering around 6%, well within the neutral market range of 5–10%. This comes despite $159 million in liquidations of bullish leveraged positions between May 29 and May…
Author: Blockto Team
No Additional Disclosure Required, Judge Rules A federal judge has refused to order the Department of Justice (DOJ) to conduct a further review of its records in the case of Roman Storm, co-developer of Tornado Cash. The decision came after a brief 30-minute hearing held on Friday morning. Storm is scheduled to face trial in July on charges related to the operation of Tornado Cash, a cryptocurrency mixer. No Brady Violation Found Over FinCEN Conversations During the hearing, Judge Katherine Polk Failla determined there was no violation of the Brady doctrine, a legal standard requiring prosecutors to share evidence that…
The FTX Recovery Trust is set to distribute over $5 billion in cash and stablecoins to creditors starting this Friday. Funds will be processed through BitGo and Kraken, and are expected to reach users within three business days. This marks the second major repayment round since the collapse of the FTX exchange. February Payouts Had Limited Impact The first repayment round, launched in February, returned approximately $7 billion to claimants with balances under $50,000. However, at the time, macro pressures and bearish sentiment kept crypto markets largely unaffected by the injection of capital. Analysts noted that while the distribution was…
The cryptocurrency market faced a significant downturn on Friday as renewed tensions between the U.S. and China reignited fears among investors. Bitcoin fell 2.1%, slipping below $104,000, triggering widespread losses across both digital assets and traditional markets. The decline followed accusations from former U.S. President Donald Trump that China violated a recently agreed tariff truce. Bitcoin and CoinDesk 20 Index Decline Bitcoin (BTC) was last seen trading at $103,879.74, having briefly touched a session low of $103,900. This marks a 2.1% drop in the last 24 hours. The broader CoinDesk 20 Index—which tracks top cryptocurrencies excluding stablecoins and memecoins—fell 4.2%,…
Trump Media and Technology Group (DJT) has announced the completion of a major $2.44 billion capital raise, with plans to use the proceeds to build a substantial Bitcoin (BTC) treasury. The move positions the company to become one of the largest publicly-traded U.S. holders of bitcoin, following a growing trend among institutions to hold crypto assets on their balance sheets. The fundraising included $1.44 billion in common stock sales and $1 billion in 0% convertible notes maturing in 2028. A total of nearly 56 million shares were sold at $25.72 per share, with approximately 50 institutional investors participating in the…
The price of Avalanche (AVAX) experienced a sharp decline of 6.78% over 24 hours, dropping from $23.04 to $21.48. This downturn aligns with broader weakness across cryptocurrency markets, driven by global economic uncertainty, trade disputes, and geopolitical tensions. The wider crypto market, including leading assets like Bitcoin, is feeling the impact, with Bitcoin recently falling below $106,000, adding pressure across altcoins. Strong Resistance Forms at $22.35; Support Seen Near $21.40 Technical analysis indicates a strong resistance zone at $22.35, where AVAX encountered exceptionally high sell volume of 2.24 million. Multiple attempts to recover have been consistently rejected at the $21.88…
Despite a series of high-profile network upgrades, Ethereum has not seen meaningful increases in network activity, according to a recent report by JPMorgan. The bank highlighted that neither daily transactions nor active wallet addresses have significantly risen in the aftermath of the Dencun upgrade in March 2024 or the more recent Pectra activation in May. “Neither the number of daily transactions nor the number of active addresses saw a material increase post recent upgrades,” . Upgrades Improve Functionality, Not Adoption The Pectra upgrade, launched on May 7, aimed to improve staking mechanics, enhance wallet usability, and streamline efficiency. While these…
OS2 Enables Cross-Chain Trading and Solana Fungible Token Support OpenSea, a leading digital marketplace, has officially launched its upgraded platform OS2, moving beyond its initial beta stage. This major development marks a strategic shift from a pure NFT marketplace to a broader onchain trading hub. The OS2 platform supports trading across 14 blockchains, allowing users to interact with both non-fungible and fungible tokens. One of the most notable features is full support for fungible tokens on Solana, a significant step in expanding OpenSea’s utility across different ecosystems. “OS2 lets a collector mint an NFT on Solana, swap a gaming token…
TON, the native token of The Open Network, saw heightened volatility over the past 24 hours, plunging 6.2% from its daily high amid broader market unease tied to geopolitical tensions. The token swung between $3.22 and $3.47, reflecting a 7.7% intraday range that underscores the crypto market’s sensitivity to global events. Persistent selling pressure followed an early rally, pushing TON toward a key support level between $3.22 and $3.24. Technical Levels Show Key Support and Resistance Zones During the trading day, TON tested resistance between $3.44 and $3.47, facing strong rejections on high volume, particularly during the 14th and 15th…
Blockchain Analysts Warn of Growing Risk, Fund Flows Continue Unchecked Grinex, the suspected successor to the sanctioned Russian crypto exchange Garantex, has reportedly moved over $1.66 billion through cryptocurrency exchanges, despite repeated warnings from blockchain analysis firms. The exposure to Grinex-linked wallets continues to increase, raising alarm bells across the compliance and digital asset security sectors. Grinex emerged following the March shutdown of Garantex by U.S., German, and Finnish authorities. Since then, the Swiss analytics firm Global Ledger has monitored a sharp rise in transactional activity tied to Grinex. Explosive Growth in Exposure Raises Compliance Concerns Initially, Global Ledger estimated…