Category: CryptoX News

AVAX Bounces After Quick Slide

Avalanche found support after a substantial decline on the short-term, according to CryptoX Research’s technical analysis model. The token is down 5.6% in the last 24 hours, underperforming the CryptoX 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which lost 3.2% in the same period of time. Technical Analysis • AVAX-USD pair declined 6.46% before staging a recovery. • A high-volume support zone emerged around $20.76-$20.85, where strong buying interest reversed the downtrend. • Price action formed a descending…

Report: Jack Ma’s Ant Group Plots Global Stablecoin Power Grab

Jack Ma–backed Ant Group is said to be pursuing stablecoin licenses across multiple jurisdictions, including Singapore, according to a recent report by Bloomberg’s Lulu Yilun Chen. Ant Group’s Global Stablecoin Strategy Leaks As regulatory frameworks evolve at breakneck speed, traditional finance (TradFi) powerhouses are increasingly turning their attention to the expanding stablecoin arena. A recent […] Source CryptoX Portal

Tether Takes Minority Stake in Gold-Focused Investment Company Elemental Altus

Stablecoin issuer Tether’s investment arm has taken a minority stake in Elemental Altus (ELE), a publicly-listed precious metals investment company. Tether Investments is aiming to diversify the assets that back its stablecoin USDT, the world’s largest such token with a market capitalization of $155 billion, expanding into tangible assets and precious metals, according to an announcement on Tuesday. Tether acquired 78,421,780 common shares in Elemental from La Mancha Investments, a Luxembourg-based mining investment firm. Elemental’s Toronto-listed shares spiked nearly 23% to 1.77 Canadian dollars ($1.30) following the announcement. They closed…

Bitcoin Drops as Mideast Tensions Rise, but $200K Still In Play

By Francisco Rodrigues (All times ET unless indicated otherwise) A weaker dollar, subdued inflation and heightened tensions in the Middle East are reshaping the crypto market’s trajectory, giving bitcoin (BTC) room to run in the future, while pushing it down in the near term. While the largest cryptocurrency is lower today, analysts say a price of $200,000 is in play by year-end. One influence is the U.S. interest rate. Consumer prices rose less than forecast last month, increasing the chance of a Federal Reserve rate cut, which would bolster risk…

Over a third of Bitcoin’s circulating supply is in instituitional hands: report

Over a third of Bitcoin’s circulating supply is now held by centralized treasuries, including centralized exchanges, exchange-traded funds, and governments. According to the recent Gemini and Glassnode’s Report, over 30% of Bitcoin (BTC) circulating supply is now held by just 216 centralized entities across six categories: centralized exchanges, ETFs and funds, public companies, private companies, DeFi protocols, and governments. This consolidation of Bitcoin into institutional hands coincides with its rapid price appreciation—from under $1,000 in 2015 to over $100,000 today, suggesting that major institutions now view Bitcoin as a strategic,…

Mercurity Fintech Plans $800M Bitcoin Treasury, Eyes Russell 2000 Inclusion

Mercurity Fintech Holding (MFH) is raising $800 million to establish a bitcoin treasury, the company announced in a press release. The New York-based fintech group said the funds will support a multi-pronged strategy: acquiring bitcoin, storing it in blockchain-native custodial infrastructure, and integrating it into a system that includes tokenized treasury tools and staking services. That means Mercurity isn’t just betting on a BTC treasury, but it’s trying to move into a “yield-generating, blockchain-aligned reserve structure.” “Bitcoin will become an essential component of the future financial infrastructure,” CEO Shi Qiu…

Ethereum Prepares For Breakout After $2.8K, What’s Next?

Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. As Ethereum (ETH) attempts to reclaim its January 2025 price range, the cryptocurrency has been holding a recently recovered level, leading some analysts to suggest another 10% surge before new highs. Related Reading Ethereum Breakout Eyes $3,100 Ethereum has…

$200K BTC by Year-End is Now Firmly in Play, Analyst Says After Muted U.S. May Inflation Data

Wednesday’s softer-than-expected U.S. inflation has likely set the stage for accelerated gains in bitcoin , potentially to $200,000 by the end of the year, according to Matt Mena, crypto research strategist at 21Shares. “If BTC breaks out of the $105K-$110K range with conviction, we could see a sharp move to $120K and, more importantly, reach our year-end price target of $138.5K by the end of the summer,” Mena told CoinDesk in an email. “Today’s CPI print may serve as a bullish catalyst for Bitcoin – and it may be the unlock…

$100M XRP Deployed: Vivopower Launches Institutional Treasury With Flare

A Nasdaq-listed firm unleashes a $100 million XRP deployment via Flare, revolutionizing DeFi-based treasury management and igniting a new era of institutional crypto finance dominance. $100M XRP Goes Live With Flare as Vivopower Redefines Corporate Treasury Vivopower (Nasdaq: VVPR), a publicly traded company transitioning into an XRP-focused digital asset enterprise, announced on June 10 a […] Source CryptoX Portal

SEC Commissioner Rejects DeFi Overreach, Defends Core US Principles

Decentralized finance took center stage in Washington as the SEC’s latest policy roundtable spotlighted code-driven innovation, individual empowerment, and freedom from centralized financial control. DeFi Embodies US Values, SEC Commissioner Argues Amid Regulatory Debate U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce addressed the audience on June 9 during the final session of the […] Source BitcoincryptoexchangeExchanges CryptoX Portal