Home Blog Page 602

Here’s Why This Analyst Forecasts Dogecoin Potential Run to $1

Mark Brennan
-
0
Here’s Why This Analyst Forecasts Dogecoin Potential Run to $1

Dogecoin shows signs of a potential trend reversal after weeks of price correction. Analyst predicts daily gain up to 30%.

According to a TradingView chart shared by market analyst MMB Trader, the meme coin tests major support at the 0.5 and 0.61 Fibonacci retracement levels, specifically at $0.218 and $0.202.

MMB Trader expects 30 daily gain for Dogecoin
MMB Trader expects a 30% daily gain for Dogecoin

The analyst noted that these levels are strong enough to halt the ongoing correction and potentially trigger a renewed upward move. For context, Dogecoin is trading at $0.2247, a 0.9% increase in the past day, increasing the monthly uptick to 38%. At this price, Dogecoin is slightly above the retracement levels.

In technical trading, Fibonacci retracement zones often serve as areas where price consolidation ends and trend continuation begins, making them significant markers for possible price rebounds.

Channel Breakout Signals Bullish Momentum for Dogecoin 

The chart also indicates that Dogecoin has broken out of a descending channel, which had confined its price action since 2024. This breakout at $0.22, which occurred earlier this month, is considered a positive technical signal, often interpreted as the end of a downtrend.

MMB Trader marks this breakout point in the chart with a label reading: “Here, when the channel resistance breaks to the upside.” Expectations of a significant price pump accompany the breakout if market volume increases.

Dogecoin’s Price Targets and Potential Gains

The analysis projects that Dogecoin could surpass its high of $0.42 recorded in January. If momentum builds, price targets of $0.75 and $1 are within reach. The chart also identifies $0.405 as a key resistance level. A sustained move above this level could accelerate buying activity.

MMB Trader anticipates a return of large green candles on the daily chart, with potential gains ranging from 20% to 30% per session if current support holds and trading volume increases.

Another analyst, TraderLeo, also noted $0.206 and $0.213 as the accumulation points for Dogecoin. TraderLeo identified this range as a key support zone following a prolonged downtrend. Historical price action shows DOGE has previously rebounded from this area, and current volume levels suggest renewed buyer interest.

Trade Leo identifies accumulation zone for Dogecoin
Trade Leo identifies an accumulation zone for Dogecoin

Meanwhile, on the 4-hour chart, BitGuru highlighted that a bounce from around $0.21389 on a 4-hour chart could signal a possible bullish reversal if momentum continues. Furthermore, a breakout above this range could trigger a 28% rally toward $0.240 to $0.250. 

BitGuru identifies reversal point for Dogecoin
BitGuru identifies the reversal point for Dogecoin

Other analysts, including Kamran Asghar and Javon Marks, have also identified recurring bullish patterns, such as double bottoms and accumulation zones. Marks projected a potential long-term move of up to 226% toward the previous all-time high of $0.73905, and even higher targets at $1.42 and $2.11.

Adding to these bullish sentiments, crypto analyst Ali Martinez noted that Whale wallets have accumulated 310 million Dogecoin in the past day, increasing their total holdings from 72.65 billion to 73.34 billion. 

Here’s What Shiba Inu Price Would Be With a 500% or 1000% Surge

Lele Jima
-
0
Here’s What Shiba Inu Price Would Be With a 500% or 1000% Surge

The market position of Shiba Inu could dramatically change and put smiles on investors’ faces if SHIB explodes by 500% or 1,000% from its current level.

With Shiba Inu stuck around the $0.000013 level, many investors appear frustrated by the lack of momentum in the canine-themed token. 

Shiba Inu, which climbed to the 18th position in the global crypto ranking last week, has plunged to the 22nd place as of the time of publication. 

Despite rising to a multi-month high of $0.00001596 earlier this month, SHIB has slumped to the $0.000013 territory. Yesterday, it dropped even further to $0.00001245 but quickly rose above $0.000013 amid a relief rally across the broader crypto market. 

Currently, Shiba Inu is trading at $0.00001307, with more than 850,000 blockchain addresses experiencing losses on their SHIB investments. However, only 552,010 addresses are currently seeing gains on their investments at the current price. 

Price of SHIB If It Soars 500% or 1,000% 

Although many investors are disappointed with Shiba Inu’s recent performance, a 500% or 1,000% rally could reverse that sentiment. As a result, we examined how high SHIB’s price could go if it surges by 500% or 1,000% from its current level.

A 500% growth from the current level of $0.00001307 would propel the price of Shiba Inu to $0.00007842, positioning the token closer to its previous all-time high of $0.00008845. Similarly, if Shiba Inu’s price soars by 1,000% from the current level, the asset will surpass its ATH and clinch an ambitious target of $0.00014377. 

Shiba Inu price if it grows 500 or 1000
Shiba Inu price if it grows 500% or 1,000%

For context, the estimated $0.00007842 price equates to a market cap of $46.2 billion, while the $0.00014377 projection translates to a valuation of $84.67 billion. This calculation assumes that Shiba Inu’s supply remains the same at 589.24 trillion tokens. 

Predictions for SHIB Surge to $0.00007842 or $0.00014377 

It is worth noting that the $0.00007 and $0.00014 targets have featured in several Shiba Inu-related predictions. In March, analyst “the Hunters_Company” urged investors to purchase SHIB, noting that the token was gearing up for a rally toward $0.00007380. 

The previous month, an analyst suggested that Shiba Inu could attain a target of $0.00007078 if it breaks a major resistance at $0.00001856. Despite estimating that Shiba Inu could hit this target in April, the token has yet to experience any significant rally since then. 

Last month, Bitcoin proponent Mag issued a buy signal to Shiba Inu community members, urging them to acquire SHIB in preparation for an upsurge to $0.00014. Earlier this year, Shiba Inu’s head of marketing, Lucie, forecasted that the token would rally 1,000% to $0.00014806 within three days. 

Although SHIB rose nearly 10% shortly after Lucie’s bold forecast, the token failed to continue this uptrend toward the $0.00014 mark. In the meantime, Changelly and Telegaon have set fresh timelines for SHIB’s potential surge to the $0.000078 and $0.00014 territories. 

While Changelly estimates that the $0.00007842 target will materialize by February 2029, Telegaon sees it playing out by 2028. For the $0.0001437 target, experts at Changelly speculated that SHIB will clinch the milestone by September 2030. However, Telegaon believes SHIB will erase a zero from its price and trade at $0.00014377 by 2031. 

White House Official Reacts to Which Other Coins Could Be Added to the U.S. Stockpile

Elendu Benedict
-
0
White House Official Reacts to Which Other Coins Could Be Added to the U.S. Stockpile

Bo Hines, the White House Director of Digital Assets, has weighed in on the prospect of adding other coins to Bitcoin in the US national crypto reserve.

Recall that President Donald Trump signed an executive order to create a strategic Bitcoin reserve (SBR) in March. The order also included the establishment of a national crypto stockpile, including assets like XRP, Ethereum, Solana, and Cardano.

Meanwhile, Trump’s executive order tasked the crypto working group to pursue budget-neutral ways to buy Bitcoin for the national reserve. For the other assets in the stockpile, it disclosed that there are no plans to acquire more beyond those obtained from seizures and forfeiture.

Hines Discusses SBR and Adding Other Assets

In his latest remarks, Hines clarified that the government is still looking to grow its Bitcoin reserve. He noted that the US government is still a huge fan of Bitcoin, and there are still plans in place for the Bitcoin reserve.

Recall that Hines has repeatedly emphasized that the US intends to buy as much Bitcoin as it can possibly get for its reserve. He has also revealed some budget-neutral ways under consideration, including revenue from tariff hikes and reassessment of gold reserves.

When asked if the US would add more assets other than Bitcoin to the national reserve, he did not entirely rule it out. The White House official stressed that the US is currently focused on Bitcoin, which he called digital gold, but could broaden the scope if other assets meet specific standards.

For context, he highlighted that decentralization is a crucial factor. Many perceive Bitcoin as the most decentralized network in the digital asset space, and Hines noted that the US might in the future tilt towards assets that match the crypto leader in that quality.

“Sure, there could be other additional assets added to a reserve, but we are not there yet. I think that we probably will get there eventually, at some point,” Hines said.

Other Ecosystems Could Catch Up with Bitcoin

Notably, institutional adoption has started to spread beyond Bitcoin, as firms suddenly realize the upsides of other ecosystems. This aligns with Hine’s comments, as he noted that other ecosystems are “continuing to develop and thrive.”

Among the ecosystems currently gaining institutional adoption are XRP, Cardano and Ethereum. The role that XRP plays in the massively expanding Ripple payment business, tipped to rival giants like SWIFT, places it as a major candidate for inclusion in national reserves. Furthermore, its growing demand and American nativity are also significant factors.

On the other hand, there are strong narratives that Ethereum would benefit from the national stablecoin interest in the US. Trump recently signed the GENIUS Act, ushering in a clear regulatory framework for the fiat-pegged sector in the US.

Tom Lee believes this could draw institutions to the Ethereum network and boost its utility. He noted that Ethereum could become the next Bitcoin, and the White House might be watching. Moreover, Cardano has continued to make strides in becoming more decentralized.

Here’s What Could Happen to XRP Price If 200,000 Bitcoin are Converted to XRP in Single Trade

Sam Wisdom Raphael
-
0
Here’s What Could Happen to XRP Price If 200,000 Bitcoin are Converted to XRP in Single Trade

The XRP price could witness a dramatic surge overnight if a single trade converted 200,000 Bitcoin tokens for XRP.

Growing Comparisons Around XRP and Bitcoin

Lately, conversations comparing XRP and Bitcoin have grown louder within crypto circles. Earlier this month, analyst Amonyx predicted that XRP would create more millionaires than Bitcoin ever did. 

Also, on July 10, while XRP traded near $2.40 and Bitcoin hovered around $115,000, crypto founder Edoardo Farina advised BTC holders to divest into XRP, calling it their final chance to benefit from what he believes is an upcoming rally.

Amid these discussions, we decided to explore an idea: What if someone converted 200,000 BTC into XRP in a single trade? To assess the potential impact, we turned to two top AI chatbots, Grok from xAI and Gemini from Google. While Grok estimated a rise in XRP price to around $12, Gemini suggested it could reach a more modest $6 to $8.

To put things into perspective, XRP now trades at $3.14, with a market cap of $186.6 billion and a circulating supply of 59.23 billion tokens. Its 24-hour trading volume stands at $6.4 billion. 

Meanwhile, Bitcoin changes hands at $118,837 with a $2.364 trillion market cap and 19.89 million tokens in circulation. Its daily volume has surged to a massive $71.7 billion at press time.

Grok Evaluates XRP Price if a Trade Converted 200,000 Bitcoin to XRP

In its response, Grok first calculated the value of the trade in question. At current prices, 200,000 BTC amounts to about $23.77 billion. Notably, if a buyer used that to purchase XRP at $3.14, they would acquire around 7.57 billion XRP, which makes up roughly 12.78% of XRP’s circulating supply. 

In contrast, the BTC being sold represents just over 1% of Bitcoin’s supply. Grok noted that while Bitcoin could absorb such a trade with relatively less disruption, XRP would face a greater impact since the trade size outweighs its daily volume by more than threefold.

To estimate how prices might react, Grok presented several market impact models. In a basic linear model, Bitcoin would drop by about 16.57%, bringing the price down to $99,151. 

However, the AI chatbot pointed out that real markets don’t react that smoothly. It then switched to a logarithmic model, which better reflects large trades in deep markets, and projected a sharper 28.6% drop, with Bitcoin sliding to around $84,849.

For XRP, the initial linear model projected a price jump of over 550%, which would lift the token to $20.63. However, Grok adjusted this with a square-root impact model to account for diminishing price returns as the trade progresses. This approach placed XRP’s post-trade price closer to $12.22, a rise of about 289%.

XRP and Bitcoin Price Assessments Grok
XRP and Bitcoin Price Assessments | Grok

Grok also updated the market caps. Specifically, after the trade, Bitcoin’s lower price would push its market cap down to roughly $1.667 trillion. On the other hand, the flood of capital into XRP would boost its market cap to around $820.8 billion.

Gemini Assesses XRP Price if a Trade Converted 200,000 Bitcoin to XRP

Meanwhile, Gemini used a different method. It focused on slippage, which refers to the price change that occurs as a trade pushes through buy or sell orders. 

According to Gemini, the massive BTC sale would trigger about 30% slippage, meaning most BTC would sell at around $83,186. This drop could spark panic selling, force liquidations, and send Bitcoin as low as $70,000 before it settles.

Conversely, Gemini estimated that the XRP buy would double the average execution price to around $6.28. At that rate, the buyer would get about 3.78 billion XRP.

While simple calculations based on added value suggest XRP could reach $3.55, Gemini argued that real market behavior like FOMO and a thinning order book would likely drive the price higher, possibly to between $6 and $10.

XRP and Bitcoin Price Assessments Google Gemini
XRP and Bitcoin Price Assessments | Google Gemini

The Ether Machine Surpasses Ethereum Foundation in ETH Holdings with $56.9M Acquisition

Zabi
-
0
The Ether Machine Surpasses Ethereum Foundation in ETH Holdings with $56.9M Acquisition

The Ether Machine has overtaken the Ethereum Foundation in ETH holdings with a $56.9 million purchase, becoming the third-largest publicly listed holder of Ethereum.

According to a recent press statement, The Ether Machine disclosed that it acquired around 15,000 ETH at an average price of $3,810 per token. The $56.9 million acquisition raises its total ETH holdings and commitments to 334,757 ETH.

The Ether Machine Surpasses the Ethereum Foundation

Notably, this holding now puts it ahead of the Ethereum Foundation, which holds 234,600 ETH valued at approximately $905.9 million. Moreover, the Ether Machine now ranks as the third-largest publicly listed holder of ETH.

Bitmine Immersion Technologies leads the list with 625,000 ETH, currently valued at approximately $2.41 billion. SharpLink Gaming, now in second place, holds 449,276 ETH worth an estimated $1.73 billion, following today’s acquisition of an additional 11,259 ETH at $3,828 per token, for a total of $43.09 million in USDC.

Top Ethereum holders
Top Ethereum holders source: https://x.com/WuBlockchain/status/1950757285443371438

The timing of The Ether Machine’s purchase coincides with Ethereum’s 10th anniversary, which the company strategically selected to initiate its long-term treasury deployment.

It sees this move as the first step toward building a long-term ETH treasury. Specifically, the company views Ethereum not just as a digital asset but as a foundational layer for the future of the internet.

Chairman and Co-Founder Andrew Keys underscored that the company’s mission is to steadily grow and support its ETH holdings as a core institutional strategy.

$407 Million Still on the Table to Buy Ethereum

Notably, The Ether Machine funded this latest ETH acquisition using $97 million raised through a recent private placement. Meanwhile, it has over $407 million left to deploy as part of its long-term treasury strategy.

In the coming days, the company will begin making additional ETH purchases using a portion of the remaining capital. Each transaction will be announced individually as the company gradually deepens its holdings.

Backing the Builders: $100K to Protocol Guild

Alongside the treasury announcement, the company revealed that Andrew Keys personally donated $100,000 to the Protocol Guild. This initiative provides financial support to Ethereum’s core developers.

The Guild plays a vital role in sustaining Ethereum’s foundational development. It has already distributed millions of dollars to over 150 core researchers, engineers, and maintainers.

The Ether Machine described the donation as a tribute to the tireless efforts of Ethereum’s core development community. It also recognized their pivotal role in building and sustaining the network over the past decade.

Shiba Inu Price Prediction: RSI Signals Bullish Reversal as SHIB Targets 25% Rally

Mark Brennan
-
0
Shiba Inu Price Prediction: RSI Signals Bullish Reversal as SHIB Targets 25% Rally

In a recent Shiba Inu price prediction piece, an analyst has confirmed that SHIB is targeting a 25% rally after a recent downtrend.

According to a technical chart shared by Swallow Academy, SHIB’s current positioning near support may give buyers an opportunity to regain control. The analyst suggests that if the support holds and bullish pressure increases, Shiba Inu could climb between 10% and 25% toward higher resistance zones.

Shiba Inu Price Prediction Swallow Academy
Shiba Inu Price Prediction | Swallow Academy

The same chart identifies potential target levels at $0.00001350, $0.00001450, and $0.00001660. These targets represent areas of historical price congestion and align with previous swing highs, indicating where sellers might reenter the market.

As of this press time, SHIB trades at $0.00001305, with no change in the past day and a 4.7% decline in the last week. The recent volatility has further reduced its gain in the past month to 15%. 

Its current price is slightly above a key support area ranging between $0.00001280 and $0.00001310. The support zone has held firm despite broader market weakness, prompting traders to monitor price behavior for signs of a rebound closely.

SHIB Fibonacci Retracement Supports Rebound Scenario

Further confirmation comes from another chart analysis posted by Altcoin Pioneers, who highlighted a similar Shiba Inu price prediction. This setup uses Fibonacci retracement levels drawn from SHIB’s swing high at $0.00001598 to its recent low at $0.00001263.

TradingViews chart of Shiba Inu
TradingView’s chart of Shiba Inu

The Fibonacci-based targets include $0.00001335 (0.786 retracement), $0.00001391 (0.618), $0.00001430 (0.5), and $0.00001597 (0 level). These levels act as potential resistance if SHIB begins to retrace upward from its recent decline.

Altcoin Pioneers advised traders to place a stop-loss around $0.00001172, the 1.272 Fibonacci extension level. This lower threshold represents the point at which the bullish setup would likely be invalidated.

RSI Indicator Reveals Bullish Divergence

Both charts highlight the relative strength index (RSI) as a key technical indicator in the current setup. The RSI currently reads around 29.49, which is in oversold territory. According to Altcoin Pioneers, the indicator is showing bullish divergence, where the RSI begins to rise even as the price continues to fall.

This divergence is often interpreted as a sign that selling momentum is weakening, and a price reversal could be near. Despite the bullish signals, analysts from both Swallow Academy and Altcoin Pioneers advise caution.

Shiba Inu Price Prediction from Other Analysts

Meanwhile, Shiba Inu continues to attract bullish predictions despite recent pullbacks. Crypto analyst Javon Marks noted that SHIB is maintaining strong bullish momentum after breaking a multi-year downtrend. 

Marks is sticking to his $0.000081 target, suggesting a potential 500%+ rally from current levels, supported by a breakout above a key resistance line dating back to its previous all-time highs.

Analyst Mark.eth also highlights a bull flag formation on the weekly chart that could trigger a major breakout. He believes SHIB’s breakout will ignite a wider meme coin rally, given its $7.7B market cap representing over 10% of the sector. Supporting this view, Shib Spain forecasts a surge to $0.0001, over 660% from the current price.

Here’s Why Ethereum Failed to Break $4,000 Before and Why This Time Is Different

Elendu Benedict
-
0
Here’s Why Ethereum Failed to Break $4,000 Before and Why This Time Is Different

A top market analyst has identified why Ethereum has struggled to break the deadlock at $4,000 and why it could do so this time.

Ethereum showed sheer strength following Wednesday’s fallout from the FOMC meeting after the Federal Reserve failed to cut interest rates. With Bitcoin tumbling in a few minutes to $115,000, Ethereum receded slightly to $3,680 but recovered quickly to close the day positive.

Meanwhile, the momentum has continued today as Ether is up 1.60% already to reclaim $3,870. Ethereum is now a few dollars away from its July high of $3,941, with its bullish price action boosting the broader altcoin market.

Analyst Highlights Hurdle at $4,000 for Ethereum

Notably, Ethereum’s bullish momentum quenched at $3,941 a few days ago, a recurring occurrence that Into The Cryptoverse founder Benjamin Cowen highlighted in an analysis today. The market expert shared that Ethereum has struggled with the resistance at $4,000 a couple of times now.

For context, an accompanying chart shows that Ethereum has faced the supply zone three times since the start of 2024 and failed to break through at each attempt. The first was on March 12, 2024, when ETH reached a high of $4,091 but faced rejection at the resistance.

Ethereum Rejected Multiple Times at $4,000/Benjamin Cowen

Notably, Ethereum fell to as low as $2,816 on May 1, 2024, after the rejection but tried again. ETH rallied from the low to $3,972 on May 27, 2024, but still couldn’t make headway with the supply zone. Further, another round of price correction followed, with Ethereum falling to $2,131 on August 5, 2024.

The third attempt came with the December 16, 2024, high of $4,106. Notably, this was the farthest it has gone in three years, but again, it fell to the strong supply wall around the zone.

Why Ethereum Has Struggled with the Resistance

Interestingly, Cowen explained why Ethereum has struggled with the $4,000 resistance in his analysis. In simple terms, he noted it was because Ether “forgot to go home.”

This means that Ethereum failed to retest a crucial support level, which Cowen highlighted in the chart. While he did not provide further context, the trendline aligns with the 400-week moving average.

Nonetheless, Ethereum has gone home with its retracement to $1,385 on April 7 from the peak of the last retest in December 2024. After reaching the MA, Ethereum rebounded quickly and has surged 178% from the April low to its current market price of $3,868.

Now, the analyst expects Ethereum to break above the resistance at $4,000 this time to new highs. He further noted that ETH would rally to new all-time highs before any other notable correction. At the current market standing, Ether is nearly 21% away from its all-time high of $4,891 in November 2021.

Remarkably, Cowen joins a list of analysts bullish on Ethereum’s near and long-term price development. Notably, there have been mild and ambitious price predictions for Ethereum recently, with the most eye-catching being Bitmine’s staggering $60,000 projection.

Here is Cardano Price if ADA Soars 1000x as Predicted by Charles Hoskinson

Lele Jima
-
0
Here is Cardano Price if ADA Soars 1000x as Predicted by Charles Hoskinson

Following Charles Hoskinson’s forecasts that Cardano could outperform Bitcoin with a 1,000x rally, this article estimates what ADA price would be at that level. 

ADA, the native token of the Cardano ecosystem, suffered a notable price crash over the past day. The downturn was driven by the Federal Reserve’s decision to maintain interest rates, which sent Bitcoin and other crypto prices tumbling. However, after dipping to $0.74, ADA has rebounded to $0.78.

Cardano Founder Says ADA Will Outperform Bitcoin

At press time, ADA was changing hands at $0.7804, down slightly 0.51% over the past 24 hours and 1.32% over the past week. It is currently down 74.82% from its previous all-time high of $3.10, registered on September 2, 2021.

Despite this, investors are optimistic that ADA will surpass its ATH and aim for ambitious targets. This optimism gained momentum after Cardano founder Charles Hoskinson predicted that ADA could outperform Bitcoin and rally up to 1,000x from its current level.

He suggested that Bitcoin’s upside potential is now limited, emphasizing that the premier asset might rally 10x from its current level to a $1 million price target. This estimated price translates to a market cap of $20 trillion, assuming the premier asset maintains a supply of 20 million coins.

However, he believes ADA could outperform Bitcoin’s gains and soar within the range of 100-1,000x.

ADA Price If It Grows by 1,000x

Amid this optimism, The Crypto Basic explored how much one ADA coin could be worth if its price increased by 1,000x. For context, this represents a 99,900% surge from its current level.

Notably, with ADA trading at $0.7804, it boasts a market cap of $27.63 billion. A 100x rally would drive ADA to $78.04, while a more ambitious 1,000x surge would see it reach $780.40.

At $780, ADA’s market cap will soar to $27.63 trillion. Similarly, the $78 price is equivalent to a market cap of $2.76 trillion, assuming ADA’s supply remains at 35.41 billion coins.

Timeline for Cardano (ADA) Price to Reach $780

Changelly and Telegaon projected that Cardano might hit the $78 mark between 2036 and 2040. However, neither has provided a timeline for the coin to reach the $780 target.

Meanwhile, Changelly expects Cardano to reach a maximum price of approximately $739 by December 2050. Interestingly, this is just $41 below the $780 projection.

Overall, despite the formidable journey ahead, the Cardano founder believes ADA is capable of soaring 1,000x, given its added utility in DeFi—something Bitcoin natively lacks.

White House Crypto Roadmap Unveiled, But Bitcoin Reserve Plan Lacks Key Details

Zabi
-
0
White House Crypto Roadmap Unveiled, But Bitcoin Reserve Plan Lacks Key Details

The White House has released its regulatory roadmap for cryptocurrencies. However, the report offers limited detail on how the proposed Bitcoin reserve will be operationalized.

On Wednesday, the White House unveiled a comprehensive digital asset strategy in a 166-page report. The President’s Working Group on Digital Asset Markets prepared the document. It outlines an ambitious policy agenda, including tax reform, stronger regulatory oversight, and the creation of a national cryptocurrency reserve.

The move was built on an executive order by President Donald Trump earlier this year. It reflects the administration’s deepening commitment to shaping the future of digital currencies and blockchain innovation.

A New Regulatory Blueprint for Digital Assets

Senior administration officials view the report as a critical shift in how the U.S. governs digital assets. The report urges Congress to affirm the right of individuals to manage and secure their digital assets independently. It stresses that people should not be required to rely on third-party custodians to exercise control over their holdings.

The report also recommends expanding the authority of the Commodity Futures Trading Commission (CFTC). Under this proposal, the CFTC would regulate spot markets that deal with digital assets not classified as securities.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and SEC Chair Paul Atkins support these recommendations. Together, they see blockchain technology as a revolutionary force not only for finance but also for ownership and governance systems more broadly.

Limited Clarity on Bitcoin Reserve Implementation

Building on regulatory clarity, the report also proposes tangible national initiatives. Chief among them is the establishment of a digital asset stockpile and a strategic Bitcoin reserve, a concept first introduced by President Trump in March through an executive order.

The proposed reserve would include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).

As part of the same directive, Trump tasked Lutnick and Bessent with developing budget-neutral strategies for acquiring additional Bitcoin, ensuring that no incremental costs fall on U.S. taxpayers.

The report specifies that the Treasury Department would oversee both the reserve and the stockpile, which would be funded using digital assets seized through legal forfeiture.

It also highlights that the Bitcoin held in the reserve is intended to remain untouched under normal circumstances and would serve as a long-term federal asset to support national policy objectives, in line with existing legal frameworks.

However, the report stops short of detailing the operational roadmap for the reserve. Officials clarified that next steps for implementing the Bitcoin reserve fall under a separate executive order, and that the Treasury Department has already begun work on the initiative. Further information is expected to be released in the coming weeks.

Legislative Momentum: Stablecoins and Market Structure Bills

The timing of the report aligns with recent legislative progress. Earlier this month, President Trump signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), which mandates that stablecoins be fully backed by liquid assets such as U.S. dollars.

Meanwhile, Congress is advancing additional crypto legislation. The House has passed a market structure bill dubbed “Clarity,” with bipartisan support, while the Senate has released its own version. Lawmakers are expected to reconcile the two in the coming months, potentially setting a unified national framework.

Clarifying Crypto Taxation: IRS and Treasury in Focus

The report places strong emphasis on the need for updated tax guidance. It calls on the IRS and Treasury to clarify how digital assets are treated in various scenarios, such as unrealized gains, de minimis transactions, and token wrapping/unwrapping.

This effort aims to eliminate ambiguity and provide consistent federal standards, offering much-needed transparency to crypto investors and businesses alike.

Welcoming Decentralized Finance and Regulatory Flexibility

Moreover, the working group urges U.S. policymakers to thoughtfully integrate decentralized finance (DeFi) into national regulatory frameworks. They encourage lawmakers to evaluate how decentralized software protocols could align with, or be adapted to, current legal standards.

As part of this strategy, they also call on the SEC to develop safe harbors and custom exemptions that support early-stage crypto innovation. By easing regulatory pressure during initial development, these steps aim to foster growth while maintaining oversight.

Trader Opens Massive Short on XRP, Aiming to Make $3M Profit

Abdulkarim Abdulwahab
-
0
Trader Opens Massive Short on XRP, Aiming to Make $3M Profit

Amid the latest market dip, some participants are again writing off XRP, as they open massive short positions.

Lynk, a widely followed crypto trader on X, is among the latest to disclose a significant short position on XRP.

In a tweet earlier today, Lynk revealed that he has placed a $500,000 bet that XRP’s price will not rise from its current levels. This comes as XRP’s price once again threatened to drop below the $3 mark in the past 24 hours. The coin fell by 5%, from $3.16 to $3.01, before rebounding.

“It’s Over for XRP”

Notably, XRP’s price decline followed the Federal Reserve’s decision to hold interest rates steady despite improving economic data. The decision sent Bitcoin tumbling and dragged the broader altcoin market down.

Amid the dip, Lynk expressed skepticism about any near-term recovery. He disclosed that he had opened a $500,000 short position on XRP, targeting a $3 million profit from the trade.

According to Lynk, XRP’s bull run is over, suggesting prices are more likely to decline than surge. Importantly, this $500K short position would face liquidation if XRP rebounds to its recent swing high of $3.65.

XRP Army: “Fake as Usual”

Meanwhile, reactions to Lynk’s post were mixed. Many doubt whether he actually opened such a large short position. The skepticism stems from the fact that Lynk failed to post a screenshot of the trade, instead only sharing a chart showing XRP’s decline.

Some called it a “wrong move,” while others outright dismissed the post as lies. Dom Kwok, co-founder of EasyA, was among the skeptics. He stated that most anonymous accounts don’t actually take the positions they claim to.

Kwok added that if Lynk did open the short position, he is already losing money. At press time, XRP had recovered slightly to $3.13, putting the position—if entered at $3—at a loss.

Community skepticism about Lynk's XRP short
Community skepticism about Lynk’s XRP short

Other commenters, like SJLove, called the move a miscalculation, arguing that betting against a 25% price rebound on XRP isn’t wise. 

SJLove suggested that the trade could be liquidated quickly if XRP retests its swing high, and that going long would have been the smarter move. Meanwhile, some urged Lynk to take profits early instead of holding out for the $3 million target.

Trader Who Netted $800K After Shorting XRP with $1M

While many questioned the legitimacy of Lynk’s short position, other bearish traders like Crashius Clay have a track record of profitable XRP shorts.

Back in March, Clay predicted that XRP would suffer one of the steepest declines among top cryptocurrencies. Acting on that outlook, he opened massive short positions worth $1 million, regularly posting updates on the trade.

At the time, XRP underperformed, and Clay profited significantly from betting against the uptrend. In April, he disclosed making over $800,000 from his short position.

However, XRP’s performance has improved since then. While Clay remains bearish, maintaining that the coin is “going to zero,” he has not disclosed opening any new short positions recently.

1...601602603...2,636Page 602 of 2,636