XRP experienced a sharp sell-off in high-volume trading, signaling potential exhaustion after a recent rally. The digital asset posted a 4.2% intraday decline, reinforcing $3.04 as a near-term resistance level and establishing local support at $2.93. XRP Drops From $3.06 to $2.93 in High-Volume Reversal Price action accelerated around 14:00, when XRP dropped from $3.04 to $2.97, driven by a volume surge of 169.41 million — more than three times the 24-hour average of 52.73 million. This marked the steepest hourly decline, with the largest concentration of sell orders in the session. During the final hour of trading, an additional…
Author: Blockto Team
In a milestone for crypto regulation and institutional trading, Laser Digital, the crypto subsidiary of Japanese banking giant Nomura, has secured the first regulatory approval from Dubai’s Virtual Asset Regulatory Authority (VARA) to offer over-the-counter (OTC) crypto derivatives. First-of-Its-Kind License in Dubai’s Crypto-Friendly Regime Laser Digital is the first company licensed under VARA’s pilot framework to provide direct, client-facing crypto options. The firm plans to focus on medium-dated options on major cryptocurrencies, with trades governed by ISDA agreements, ensuring institutional-grade risk management. Why Dubai Is Becoming a Crypto Derivatives Hub Dubai has emerged as a key destination for crypto innovation,…
BitBridge Capital Strategies has revealed plans to go public under the ticker BTTL by the end of Q3 2025, following its completed merger with Green Mountain Merger Inc. The company also announced its bold move into BTC-backed lending with a new product: the Bitcoin Respect Loan. No Legacy Business, Only Bitcoin Unlike other public crypto treasury companies like MicroStrategy, BitBridge is launching with a clean slate. The firm stated it has no legacy operations and is solely focused on expanding the Bitcoin economy, building a robust BTC reserve, and leveraging bitcoin as sound money to drive long-term value. “Our mission…
A controversial take by former SEC chief of staff Amanda Fischer has stirred backlash after she likened liquid staking to the financial maneuvers that triggered the 2008 collapse of Lehman Brothers. SEC: Liquid Staking Isn’t a Security In a Tuesday staff statement, the SEC clarified that certain liquid staking activities do not qualify as securities, meaning they fall outside the agency’s enforcement scope. This move was hailed by many as a win for DeFi and institutional adoption. However, Fischer wasn’t impressed. She took to X (formerly Twitter), warning that the SEC had just “blessed the same type of rehypothecation that…
Bitwise CIO Matt Hougan believes markets have yet to fully price in the SEC’s radical shift toward crypto, suggesting the industry may be on the brink of a major bull cycle. A Surprising Speech from the SEC On July 31, SEC Chair Paul Atkins delivered a groundbreaking speech at the America First Policy Institute, detailing how blockchain could be integrated into financial markets. The speech was hailed by Hougan as “the most bullish document I’ve read on crypto.” Rather than pushing back on innovation, Atkins emphasized regulatory clarity, pro-growth policies, and a vision that aligns with crypto-native ideas. Market Hasn’t…
Public companies are rapidly accumulating Solana (SOL) to capitalize on lucrative staking rewards, sparking a competitive push among firms seeking yield-generating blockchain assets. Firms Acquire Millions in SOL for Long-Term Staking Three companies increased their Solana holdings this week, highlighting a growing interest in staking rewards over passive asset holding. Top Solana Holders Control $591M in Tokens According to CoinGecko, the top four public companies holding Solana now control more than 3.5 million SOL, valued at over $591.1 million. This represents nearly 0.65% of the total SOL in circulation, reflecting growing corporate influence in the Solana ecosystem. Staking Yields Drive…
Former Binance CEO Changpeng Zhao is pushing back against a $1.8 billion lawsuit filed by bankrupt crypto exchange FTX, asking a Delaware bankruptcy court to dismiss the claims entirely. The case revolves around a 2021 share repurchase deal that FTX alleges was funded with misappropriated customer funds. Zhao Denies Role in Alleged Fraudulent Transfer FTX, now under the management of a bankruptcy legal team, claims it transferred $1.8 billion in crypto to Binance as part of a buyback agreement. It alleges this transaction was conducted with customer assets FTX was not authorized to use. However, Zhao has countered that he…
Dogecoin (DOGE) is under pressure following a sharp 5% decline, as trading volumes surged significantly, triggering a breakdown below key support zones. The move reflects a broader trend of risk aversion in the crypto markets, combined with increased institutional selling. Volume Surge Drives Breakdown Below $0.205 DOGE traded within a 6% intraday range between $0.198 and $0.211, but it was the 14:00 session that marked a major turning point. Trading volume spiked to 877.9 million, nearly four times the daily average, as price action broke below $0.205 following a rejection at that level. This volume-driven sell-off established $0.205 as short-term…
Crypto derivatives trading surged to new highs in July, led by Binance, which recorded its highest futures trading volume in six months. This growth highlights renewed market activity and heightened volatility driven by recent price swings in Bitcoin and altcoins. Binance Futures Volume Tops $2.55 Trillion According to market data, Binance’s futures trading volume hit $2.55 trillion in July, the largest since January. The rise coincided with a volatile month where crypto market capitalization briefly reached $4 trillion before pulling back. The spike in trading activity suggests that market participants are becoming increasingly active, possibly due to recent price breakouts…
China’s national security agency has raised alarms over the collection of biometric data through crypto incentives, cautioning that such practices could pose serious threats to national security and personal privacy. Biometric Data Collection Raises Red Flags In a recent public statement, China’s Ministry of State Security (MSS) voiced concern over foreign firms offering cryptocurrency in exchange for iris scans. The advisory did not mention any specific company by name, but the description aligns closely with the practices of Worldcoin, a crypto project known for scanning users’ irises to create digital identities. The MSS detailed a case where a company collected…
