Author: NBTC

Bitcoin has been struggling to recover after falling from $64,669 last month and is now trading near $58,669. As the market remains highly volatile, analysts warn that Bitcoin’s next liquidity move could trap both bulls and bears. While one group sees a short squeeze pushing $BTC toward $62,000, others believe the market may first revisit the $50,000 liquidity zone before the next major rally begins. $62K Holds the Biggest Short Liquidation Target Looking at the Bitcoin Exchange Liquidation Map, market analyst Seth believes Bitcoin Price has already cleared one important liquidation zone. When Bitcoin recently fell to around $57,800, nearly…

This does not mean the company cannot issue new shares. However, doing so at current valuation levels would likely invite further criticism, as Strategy’s last few bitcoin purchases have all been dilutive to common stockholders, which has drawn backlash from the community. The concern is that Strategy is increasingly being valued like a closed-end fund rather than an operating company. Similar vehicles, including the Grayscale Bitcoin Trust (in the years prior to its conversion to an ETF), have historically traded at substantial premiums to their underlying bitcoin holdings during periods of strong demand, only to later trade at persistent discounts…

According to blockchain data, major $RLUSD burns took place on the $XRP Ledger (XRPL) on Tuesday. The market cap of the token has now shrunk to just $1.4 billion, CoinGecko data shows. Roughly 146 million tokens have been destroyed within hours, the data shows. The burns were significant enough for Ethereum to overtake the XRPL as the primary network for $RLUSD issuance. At its peak, the stablecoin’s total market capitalization reached nearly $1.9 billion. Fresh competition The decline has notably coincided with the arrival of Open USD (OUSD), which is a new major USD stablecoin. As reported by U.Today, Ripple…

Phantom has shifted the infrastructure supporting prediction markets in its crypto wallet, replacing its previous Kalshi based system with World for positions opened from June 1. The change moves new markets to a noncustodial protocol that routes orders to liquidity providers on Solana. Payouts are redeemed automatically when an event ends, removing the separate settlement trade required under Phantom’s earlier setup. Positions opened before June 1 remain tied to Kalshi through DFlow. Users holding those contracts must exchange expired outcome tokens for the stablecoin used to open the position, with the final quote potentially affected by market conditions and settlement…

Tether has expanded the use of its $23 billion gold reserves by bringing its tokenized product Tether Gold (XAUT) to crypto lender Ledn. Ledn said it is adding support for XAUT, alongside bitcoin BTC$60,603.09 and Tether’s stablecoin $USDT, with borrowing against XAUT expected later this year. Tether is attempting to monetize what has become one of the world’s largely privately held gold reserves. The stablecoin company says it holds around $23 billion worth of physical bullion backing XAUT, with each token representing one troy ounce of gold stored in vaults in Switzerland. Gold-backed lending is traditionally the realm of central…

Lighter, one of the largest decentralized perpetuals exchanges by trading volume, said it will start permanently burning the $LIT tokens it buys back with exchange revenue and will fund staking rewards from its ecosystem token reserve. Lighter has bought back about 15.5 million $LIT — roughly 6.3% of circulating supply — using exchange revenue since its token generation event, the company said in an X post Tuesday. Those tokens will now be withdrawn from the exchange and sent to a burn address on Ethereum mainnet, with the first burn set for the weeks after the end of the second quarter.…

South Korea’s financial watchdog has referred two suspected crypto market manipulation cases to prosecutors as it expands enforcement against unfair trading. South Korea FSC refers two crypto cases The Financial Services Commission said it approved the referral of suspects in two virtual asset market manipulation cases at its 12th regular meeting on July 1. The cases involve alleged trading tactics that regulators say distorted prices and drew retail investors into risky trades. The first case centers on a large crypto holder, often called a whale, who allegedly used large funds over about two months to control the price of a…

Read the recent headlines about trading platform Robinhood’s c-suite departure and layoffs, or BitGo’s 15% workforce reduction, and you’ll see that things are looking grim in the world of crypto investing. One outlet reports that Robinhood’s recent decision to reduce its headcount is occurring amid a “crypto revenue crunch.” Another called the current crypto season a “slump.” For investors, understanding the correlation between tech layoffs and crypto market performance is valuable. In this case, the lesson to be learned is that Robinhood’s layoffs aren’t influencing the market, but revealing where we are in the market cycle. Based on declining trading…

In brief Forward Industries added more than 500,000 $SOL during its fiscal Q3. The firm now holds around 7.55 million $SOL, worth around $573 million as Solana trades above $76 on Wednesday. Shares in the firm have jumped double digits percentage points shortly after market open on Wednesday. Shares in leading Solana treasury firm Forward Industries have jumped nearly 17% to trade at $4.94 after the firm announced it acquired more than $38 million worth of Solana during its fiscal third quarter. The firm bolstered its treasury with more than 500,000 $SOL at an average price around $79 and now…

A Shanghai court sentenced five people to prison over an illegal foreign exchange network that used crypto to move more than $29.4 million abroad. A Shanghai court sentenced five Chinese individuals to prison terms ranging from two and a half years to six years in a crypto-linked foreign exchange case. According to a post by the Shanghai Jing’an District People’s Procuratorate, authorities arrested nine people in the case. The five defendants also received fines ranging from 300,000 yuan, or about $44,150, to 1.5 million yuan, or about $220,780. Prosecutors said the group helped domestic clients transfer more than 200 million…