Author: NBTC
Ethereum has reclaimed a major historical support level near $2,516, but a worrying divergence is emerging. While the price appears stable, key momentum indicators and declining trading activity suggest the asset may struggle to maintain upward pressure in the short term. At press time, ETH traded at approximately $2,530, recovering from a recent intraday high. This price action puts the market at a critical crossroads, with analysts watching to see if support can hold in the face of weakening underlying strength. Ethereum Is Holding a Historically Critical Support Level According to a chart shared by market analyst Rekt Capital, Ethereum…
Kyrgyzstan plans to use USDKG, a gold-backed stablecoin, as legal tender to support financial modernization. The country saw crypto mining tax revenue jump 30% in Q1 2025, reflecting stronger sector growth. Kyrgyzstan has just announced plans to adopt the gold-backed stablecoin USDKG as legal tender. The government is not just testing it out, it is really aiming to make this project a part of people’s daily lives. Imagine, one day people will be able to buy hot tea in Osh or pay for public transportation in Bishkek using a digital token whose value is tied to the US dollar—but backed…
Sen. Elizabeth Warren (D-MA) and leading consumer advocacy groups denounced a report Friday that Amazon and Walmart are considering issuing their own stablecoins, framing such developments as an unacceptable outcome of pending stablecoin legislation in the Senate. “Let’s not forget the GENIUS Act has a major loophole allowing Big Tech companies and major retailers to issue their own private currencies structured as stablecoins,” Warren said Friday in a statement shared with Decrypt. “If Congress doesn’t fix it, billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg could launch stablecoins that track your purchases, exploit your data, and squeeze out competitors.”…
Paypal CEO Alex Chriss announced today that PayPal plans to bring PYUSD, PayPal’s Stablecoin, into the Stellar network to provide fast and affordable cross-border payments and reach a large group of developers. According to the company press briefing, they are awaiting approval from the NYDFS. Paypal plans to upgrade its Stablecoin for real-world payments, commerce, and micro-financing by leveraging the Stellar network speed, low transactional costs, and ease of integration. Stellar has been designed for speed, low-cost payments, and real-world utility. Chris believes the blockchain technology firm will unlock an additional option to the already existing expansion in Ethereum and…
Kraken launches a Crypto-as-a-Service platform through Alpaca, reaching 200+ enterprise clients. The plug-and-play model offers trading, custody, and compliance without extra licensing. Brett McLain says the move positions Kraken as key infrastructure for traditional finance. While the spotlight in crypto often falls on token launches and price moves, some of the most important shifts happen behind the scenes. Kraken’s latest move is one of them and it could have a lasting impact on how crypto gets integrated into mainstream finance. The exchange has launched a Crypto-as-a-Service (CaaS) platform in partnership with equities broker Alpaca. It’s not flashy, but it’s powerful:…
Charles Hoskinson, the founder of Cardano, recently reiterated his prediction for Bitcoin price and provided a bold timeline for realization. In an interview hosted by Bitcoin Magazine, Hoskinson highlighted key technological advancements and institutional involvement in driving Bitcoin’s growth. He particularly cited the recent focus on integrating Bitcoin within decentralized finance (DeFi). His remarks come as other prominent figures, such as Cathie Wood of Ark Invest, have also expressed their optimistic outlook for Bitcoin’s future. Bitcoin’s DeFi Future Hoskinson emphasized Bitcoin’s growing significance in the DeFi space, largely due to its upgrade via Taproot, which enables greater programmability. He explained…
According to on-chain analytics platform Santiment, Ethereum large holders continue to accumulate even as retail confidence wanes following the recent market dip. Crypto prices plunged Friday, with major altcoins taking significant hits and liquidations surpassing $1 billion. At one point, Ethereum fell by more than 8%, reaching a low of $2,439. At the time of writing, ETH was barely higher, just up 0.15% in the last 24 hours to $2,532, having marked three straight days of drop since its June 11 high of $2,880. 🐳 There are currently 6,392 wallets holding between 1K and 100K Ethereum. Over the past month…
Stablecoins are playing an increasingly important role in both crypto markets and traditional finance, according to a Friday report by Wall Street giant Citigroup. As stablecoin usage grows, so does their demand for short-term U.S. Treasuries, although substitution from money market funds may limit the net effect, the report said. Legislation under consideration in Congress could further entrench this trend by requiring reserves to be held in short-dated government debt, the bank noted. Citi said the U.S. dollar’s dominance in stablecoin issuance reflects its status as the global reserve currency, rather than driving it. Dollar-backed stablecoins like USDT remain dominant,…
Ripple and SEC end lawsuit with $125 million escrow deal, marking final court chapter. XRP no longer classified as a security in secondary markets after judge’s 2023 ruling. In the meantime, XRP price rises to $2.16, with eyes on $2.35 and $2.60 resistance levels. After nearly five years of courtroom drama, the Ripple vs. SEC case is finally reaching its last chapter. In a joint move, Ripple and the U.S. Securities and Exchange Commission have asked a New York court to release $125 million in escrow funds, marking the end of a long fight. Meanwhile, XRP is no longer seen…
Conduit, a stablecoin-focused cross-border payments provider, said on Thursday it has teamed up with Brazil’s Braza Group for real-time foreign exchange (FX) swaps between the Brazilian real and major foreign currencies using stablecoins. The service allows users to convert Brazilian real to U.S. dollars or euros and settle transactions in minutes with stablecoins —a sharp departure from the traditional FX infrastructure, where settlement can take up to three days, according to the press release. Braza, which owns Brazil’s largest FX bank and processed $67 billion in transactions last year, launched its own real-pegged stablecoin BBRL on XRP Ledger earlier this…