Live Feed

Crypto exchange Kraken is partnering with Maple Finance (MPL) to build an on-chain financing system for collateralized loans, The Block reported. The system will fund Kraken's over-the-counter (OTC) lending program, which allows institutional and high-net-worth clients to borrow USDC by collateralizing cryptocurrencies like BTC and ETH. Under the arrangement, Maple will provide senior capital through a bankruptcy-remote special purpose vehicle (SPV). Kraken will manage loan origination, sales, and servicing, and will also provide junior capital, absorbing initial losses before Maple. This structure reduces Kraken's own capital burden while giving Maple investors access to a senior, overcollateralized lending product backed by BTC and ETH. Collateral balances and loan performance are expected to be verifiable on-chain in real-time.

Upbit announced it will temporarily suspend deposits and withdrawals for Tezos (XTZ) starting at 11:00 a.m. UTC on June 29 due to a network upgrade.

The spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section shows the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks the volume of trades at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. These brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by size. As buy orders increase, the corresponding colored line rises. The yellow line represents orders between $100 and $1,000, and the brown line indicates large orders between $1 million and $10 million.

Stablecoin issuer Circle has partnered with Nomura Securities to offer a real-time foreign exchange settlement service for Japanese companies, with plans to launch as early as 2027. The collaboration aims to boost cross-border investment and trade by enabling the immediate processing of large-scale overseas transactions.

Lee Chan-jin, head of South Korea's Financial Supervisory Service (FSS), will hold a regular meeting with CEOs of virtual asset exchanges and other Virtual Asset Service Providers (VASPs) on July 2 to discuss internal controls and self-regulation. According to Edaily, the conference will be attended by representatives from major won-market exchanges, coin-market exchanges, and custody firms. The agenda is also expected to cover the potential opening of the virtual asset market to corporate investors.

Cryptocurrency exchange CoinEx, which has Chinese roots, has refuted a Wall Street Journal (WSJ) report alleging it was a key channel for Iran-related fund transfers, stating it has "no commercial relationship with the Iranian government or sanctioned entities." CoinEx said that it has been on the Iranian government's blacklist since 2021, with its official domain blocked within the country, and has never had an office or operating entity in Iran. The exchange also claimed that, based on currently available information, transactions involving Alireza Derakhshan and Zedcex/Zanjani, mentioned in the report, occurred before the U.S. Treasury imposed sanctions, and that it has never provided services to sanctioned parties. Regarding a transaction related to the Bybit hack, CoinEx explained that it assisted by blocking the account and freezing assets immediately after becoming aware of the incident and will conduct an internal review of the transaction mentioned in the report.

The supply of pUSD, the native stablecoin for the prediction platform Polymarket, has surpassed $500 million. This milestone is attributed to an influx of liquidity driven by a recent increase in user numbers and trading volume in the prediction market. The pUSD stablecoin is the key asset used for betting and trade settlements on the platform.

Indonesia's Financial Services Authority (OJK) has issued new guidelines requiring crypto influencers to obtain a special certification, Bloomberg reported. The rules, which apply to all financial influencers, also mandate the disclosure of paid advertisements and require licenses for asset recommendations. Financial firms will be held responsible for the information shared by influencers with whom they have marketing contracts. Companies that violate the regulations face penalties including written warnings, license revocation, and fines of up to 15 billion rupiah (around $920,000). The OJK explained that the measures are intended to increase financial literacy and protect consumers from misconduct.

With the grace period for the European Union's Markets in Crypto-Assets (MiCA) regulation set to end on July 1, only 231 of over 1,200 crypto firms have so far secured the required licenses, Cointelegraph reported via X.

Noted Bitcoin skeptic Nouriel Roubini, a professor at New York University, stated on the BeInCrypto podcast that stablecoins are the only real-world use case to emerge from nearly 20 years of blockchain development since Bitcoin's inception. The economist, known as "Dr. Doom," pointed out that of the 20,000 ICOs that have taken place, 80% were scams from the start, and many projects are insubstantial, speculative investments based on belief. He further claimed that of the non-fraudulent projects, 70% have lost all their value, while even the surviving projects, including the top 10, have fallen 50% to 60% from their all-time highs. While Roubini acknowledged that stablecoins function as a means of payment and can be useful in countries with high inflation, he emphasized that as digitized fiat currencies, they carry the same risk of value dilution and do not provide yield or a hedge against currency risk.

According to CoinGlass data, an estimated $826.40 million in long positions will be liquidated across major centralized exchanges (CEX) if BTC falls below $60,163. Conversely, a break above $61,955 would trigger the liquidation of $94.49 million in short positions.

Japanese Bitcoin accumulation firm Remixpoint has stated that it may sell a portion of its BTC holdings to maximize corporate value. In a post on X, the company noted that while BTC temporarily fell below $60,000, its fundamental value—driven by limited supply, network robustness, institutional adoption, infrastructure expansion, and a growing number of market participants—remains unchanged. Remixpoint added that buying demand has been observed around the $59,000 to $60,000 level, suggesting the market is absorbing short-term sell-offs while seeking its next direction. "However, holding BTC is not the goal in itself," the company stated. It explained that it might sell some of its BTC based on a comprehensive assessment of price levels, market conditions, capital efficiency, investment opportunities, and funding needs, using the proceeds for other growth businesses and strategic capital allocation. According to Bitcoin Treasuries, Remixpoint currently holds 1,491 BTC.

As Bitcoin has fallen to around $61,700 ahead of its options expiry at 8:00 a.m. UTC on June 26, expectations that the price could be pulled toward the max pain level have faded, CoinDesk reported. The max pain price for this expiry is $72,000, significantly above the current price, with $10 billion in options contracts set to expire on Deribit. Max pain refers to the price at which option buyers incur the most losses while sellers reap the maximum profit, leading to a market hypothesis that sellers attempt to guide the spot price toward this level. CoinDesk noted that with the current BTC price so far from the max pain level, arguments that this hypothesis is meaningless are gaining traction. The outlet added that regardless of the theory, the event could still increase market volatility as monthly options are rolled over.

Japanese financial giant SBI Holdings is set to acquire local cryptocurrency exchange bitbank for 46.7 billion yen (around $294 million), Nikkei reported. The acquisition will proceed in stages, with SBI purchasing shares from individual shareholders, including the founder, this August. By the end of October, bitbank is scheduled to acquire the stakes currently held by its corporate shareholders, Mixi and Ceres. The move follows an announcement from SBI in May that it was considering making bitbank a subsidiary.

The South Korean government's procurement spending on virtual asset-related projects this year has already surpassed the total for all of last year, Etoday reported. An analysis of public tenders revealed that the allocated budget has reached 10.06 billion won ($7.2 million), exceeding the 9.6 billion won ($6.9 million) budgeted for the entirety of the previous year. The report noted a shift in demand, which was previously centered on crime-tracking tools for police and prosecutors. Spending has now expanded to include tax infrastructure, such as an integrated analysis system for South Korea's National Tax Service, seized asset management, and reporting and verification systems.

Cryptocurrency analyst Axel Adler Jr. has assessed that MicroStrategy (Nasdaq: MSTR) has shifted from an aggressive BTC accumulation strategy to a defensive buying approach, but its risks are limited. He explained that while MSTR is down 78% from its peak, BTC has fallen 51%. Adler noted that although this is less than MSTR's 89% drop during the 2022 bear market, the current trend is similar. Recently, MicroStrategy has reduced the size of its BTC purchases, increased its dollar reserves, and became a net seller of BTC for the first time since 2022. Adler believes that given the company's dollar holdings, its structural risk is limited. However, he added that the biggest risk at present is BTC's failure to recover to MicroStrategy's average purchase price of $75,000 for an extended period. This could cause the MSTR premium to collapse and make further fundraising difficult. A key variable going forward, he said, will be whether the company transitions to directly selling BTC to cover preferred stock dividends and bond interest payments.

Grayscale has highlighted the potential passage of the U.S. CLARITY Act as a key variable that could lead to a re-evaluation of currently undervalued cryptocurrency protocols. According to Zach Pandl, Grayscale's Head of Research, many revenue-generating blockchains are trading at attractive prices relative to their fundamentals. He noted that these protocols appear even more undervalued when considering profit and cash flow, due to their low operating costs. Pandl added that most of the top revenue-generating protocols are centered on financial services, including essential support services like oracles and staking infrastructure. He suggested that the CLARITY Act could enhance regulatory clarity for crypto and stimulate on-chain transactions. Grayscale also reported that based on protocol revenue over the last 12 months, Hyperliquid (HYPE) recorded the highest at $871 million, followed by Pump.fun (PUMP) with $459 million.

Patrick Shyu, a software engineer formerly on Google's YouTube app architecture team, has sold all of his cryptocurrency holdings, citing concerns over potential selling pressure and a lack of liquidity. According to U.Today, Shyu said on his YouTube channel that he recently sold all his Bitcoin after suffering a huge financial loss. He claimed BTC fell from $120,000 in October of last year to the low $60,000s this summer, adding that his use of excessive leverage led to a "brutal" outcome. Shyu warned that the liquidity pool available for retail investors to sell their holdings is much shallower now than in 2021, stating that investors are "walking on thin ice" and that most will need to find an exit. He pointed to the 35,000 BTC held by Mt. Gox creditors and the 850,000 BTC held by MicroStrategy (MSTR) as potential catalysts for a major downturn. Shyu claimed these entities have been slowly selling, hoping retail investors would provide exit liquidity, and questioned if the market has enough liquidity for everyone to get out. He also noted that while over 95% of BTC has been mined, a fee-based economy to support miners has not yet formed, which could weaken network security. However, Shyu added that he remains optimistic about the crypto market long-term, noting that Bitcoin often begins a new cycle whenever people declare it "dead" and that his statement could be a bottom signal.

An anonymous new address starting with 0xA708 has withdrawn 17,675 ETH, worth $28.58 million, from Binance, Onchain Lens reported. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

A drop below $58,000 for BTC could trigger the liquidation of $1.6 billion in long positions, according to on-chain analyst Reflection. The analyst stated that in his entire trading career, he has never seen such a concentration of long position liquidity in a single range. He explained that if the price falls below the $58,000 mark, more than $1.6 billion in long positions will be liquidated, potentially wiping out all the traders who had called a market bottom. However, Reflection added that the best time to buy is not when the market appears safe, but precisely in moments that seem most painful. He argued that once all the liquidity is exhausted, there is no significant selling pressure left, and that all past market bottoms have been formed in this manner.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 48.13% long, 51.87% short - Binance: 48.13% long, 51.87% short - OKX: 48.88% long, 51.12% short - Bybit: 49.61% long, 50.39% short

While Bitcoin continues its bearish trend, signs of a market bottom are emerging, Glassnode analyzed in its weekly report. The report noted that although BTC is trading below its True Market Mean Price of $77,000—the average cost basis for actively traded coins—the entry of new investors has lowered the short-term holder cost basis to $71,400. However, the average daily realized loss has also increased to $205 million. Currently, BTC faces resistance in the $66,800 to $70,700 range, though some buying pressure is being observed on Coinbase. Glassnode explained that the recent decline was led by the spot market, with the derivatives market following suit and triggering long position liquidations. Furthermore, a concentration of long gamma exposure in the options market between $60,000 and $64,000 is suppressing spot price volatility. This is one of the factors forming a support zone at the $60,000 level, the report added.

The Memecore (M) token plummeted over 80% today, falling from around $3 to $0.5 without any apparent negative news, CoinDesk reported. The outlet noted that no clear cause for the crash has been identified, such as a hack or a market-moving announcement. The report also highlighted that on-chain analyst ZachXBT had previously raised the possibility of insider manipulation during the token's rally in April. Today, the M token's price dropped from $2.92 to $0.51 on spot markets and fell as low as $0.4 on the Binance perpetual futures market. While the decline erased approximately $3 billion in market capitalization, the token's fully diluted valuation (FDV) remains around $7 billion. M is currently trading at $0.7046, down 75.23%, according to CoinMarketCap.

South Korea's KOSPI index recovered the 9,000 level during intraday trading for the first time in two trading days since June 23. SK Hynix, in particular, is trading at 2.96 million won ($2,130), up 14.73% from the previous trading day. The KOSPI is currently at 9,006.05, an increase of 6.32% from the previous session.

China's Supreme People's Procuratorate has sentenced a defendant, identified as Li Mobo, to death for laundering over 48 million yuan ($7.03 million) in cryptocurrency, Xinhua News Agency reported. The sentence followed an investigation into a large-scale cross-border drug smuggling and money laundering operation. The report noted that Chinese prosecutors are intensifying money laundering investigations to recover proceeds from drug crimes, having indicted more than 1,200 individuals on related charges between January 2025 and May 2026.