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Here Are Three Key Catalysts That May Influence XRP Price This June

Mark Brennan
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Here Are Three Key Catalysts That May Influence XRP Price This June

The Motley Fool has identified June 2025 catalysts that may impact the XRP price.

XRP has shown a clear short-term downtrend in the past week. It declined from above $2.60 on May 15 to approximately $2.30 by May 21. Although there were brief intraday recoveries, the trend points to sustained selling pressure or uncertainty in the broader market. 

However, analysts suggest that June 2025 may introduce new dynamics for XRP, per a post by Uphold’s Dr Martin Hiesboeck.

Spot ETF Decision and Market Sentiment

Notably, one of the events is the potential approval of a spot XRP Exchange-Traded Fund (ETF). According to a financial analysis by The Motley Fool, the SEC could reach a decision on Franklin Templeton’s ETF application on June 17, 2025. 

While a May approval did not occur, the agency has officially pushed the date to June. The report notes that the approval of Bitcoin spot ETFs in January 2024 significantly boosted BTC prices but emphasizes that such results are not guaranteed for XRP. 

For example, spot Ethereum ETFs launched in July 2024 showed a limited immediate price effect. Notably, at least seven XRP ETF filings remain active, indicating sustained institutional interest. Market sentiment suggests that one of these filings could be approved before year-end.

Macro Factors and Developer Conference

In addition to the ETF decision, macroeconomic developments may also influence XRP’s trajectory. Motley Fool pointed to the upcoming Federal Open Market Committee (FOMC) meeting on June 17-18, 2025. The meeting could lead to interest rate cuts if economic indicators weaken, particularly amid escalating trade war concerns. 

Historically, such monetary easing tends to benefit digital assets, especially altcoins like XRP, due to higher capital inflows into risk assets. 

XRPL APEX Event

This development would follow closely behind the XRPL APEX event from June 10 to 12 in Singapore. 

The annual developer summit will feature Ripple executives and focus on AI integration, cross-chain interoperability, DeFi, and real-world asset tokenization. Past conferences have included updates that impacted market activity.

The Motley Fool reports that while the three identified catalysts remain speculative and do not ensure a significant increase in XRP’s price, their alignment in June 2025 creates a notable scenario for the asset. 

It highlights XRP’s history of rapid price movement, referencing its surge from $0.50 on Election Day 2024 to $3.39 within a little over two months. It also notes that broader macroeconomic conditions will likely influence outcomes, but the timing of these catalysts points to a potentially favorable setup for XRP as the month approaches.

Trading Metrics and Institutional Activity

Meanwhile, Kraken’s latest report, prepared by CF Benchmark, outlines XRP’s growing maturity and increased institutional traction. The report details a rise in demand following the SEC’s withdrawal of its enforcement action against Ripple. 

XRP’s average daily spot volume has reached $152 million, with major exchanges such as Kraken, LMAX, and Bitstamp contributing $74.8 million cumulatively. Interestingly, this trading activity now rivals Ethereum and Bitcoin, with XRP’s 24-hour turnover on CME CF reference exchanges standing at $226.8 million. 

That represents 24% of Ethereum’s and 11% of Bitcoin’s trading volume. Simultaneously, regulated derivative and CFD products from CME Group, BitMEX, and Japan’s BitFlyer have added to XRP’s accessibility.

$500M+ XRP Buy Fails to Move Price: Here’s What Happened

Sam Wisdom Raphael
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$500M+ XRP Buy Fails to Move Price: Here’s What Happened

A single XRP transaction worth over half a billion dollars failed to move the market, raising concerns among community pundits.

Notably, these concerns emerged as XRP has failed to mirror the recent market momentum that has pushed Bitcoin (BTC) to a price discovery phase. Specifically, BTC has now changed hands above $111,000 for the first time in history. The asset recently breached its previous all-time high at $109,000. 

Despite Bitcoin’s recent milestone, XRP trades at the lower end of the $2 price region, trading for $2.4 with a meager 0.6% drop this week. Amid this price stagnation, market participants expect intense buying pressure to contribute to an uptick.

Pundits Point to Market Manipulation Following $ 500 M+ XRP Move

However, some pundits believe this has not been the case following a recent whale transaction that they suggest should have at least nudged the price northward. For context, a whale withdrew 236.98 million XRP worth $567 million from Kraken in a single transaction yesterday.

Spotlighting the transaction, “Stellar Expert,” an XRP and XLM community pundit, called attention to the transaction but pointed out that despite the magnitude of the move, XRP’s price did not even bulge.

He noted that while the buying pressure from the transaction ought to at least contribute to a price increase, XRP’s charts saw no pump and wicks, with zero excitement within the market. 

Stellar Expert asked whether this was a market or a simulation, a question he believes even the most loyal XRP proponents would ask at this point. According to him, if a market fails to react positively to the inflow of over half a billion dollars, then something is wrong.

Notably, Digital G, another pseudonymous community pundit and former City of London fund manager, also made similar comments. 

According to him, when a large transaction like this fails to influence even a slight price push, market participants would suspect the market has some issues. When asked if he believes this could translate to market manipulation, Digital G answered affirmatively.

Here’s What’s Happening

However, a look at the transaction indicates that the pundits might be misinterpreting its nature. Notably, data from the XRP Ledger shows that the transaction is in fact a payment that likely involved a withdrawal from Kraken, and not necessarily a buy. 

Notably, these transactions differ from actual purchases, as they may simply involve the transfer of existing XRP holdings from an exchange to a non-custodial wallet. While such movements are generally bullish, indicating a potential intention to hold the assets long-term, they do not necessarily have any impact on exchange order books.

The only instance where these withdrawals have a direct impact on order books, essentially affecting price, is when the whale recently purchased the XRP tokens before withdrawing them out. Interestingly, Ripple CTO David Schwartz confirmed this in a post, but suggested that it is likely the whale recently bought the tokens. 

Meanwhile, disclosures from order book expert Dom show XRP is indeed facing some troubles on that front. Specifically, Dom confirmed that market participants had sold a net volume of 240 million XRP in the past seven days, with most of the selling pressure coming from Coinbase and Upbit.

Zoomex Teams Up With MoneyGram Haas F1 Team To officially Launch The Zoomex World Trading Championship (ZWTC 2025)

Esra Zuhal
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Zoomex Teams Up With MoneyGram Haas F1 Team To officially Launch The Zoomex World Trading Championship (ZWTC 2025)

Zoomex is thrilled to announce its official partnership with the MoneyGram Haas F1 Team as their official cryptocurrency trading platform partner. This collaboration is driven by both parties’ shared commitment to “precise execution, rapid response, and system stability.” Zoomex and MoneyGram Haas F1 Team will work together to enhance brand synergy, engage users, and promote technological innovation, strengthening the connection between digital currency trading and the high-speed world of racing.

To celebrate this exciting collaboration, Zoomex officially kicked off the 2025 Zoomex World Trading Championship (ZWTC) on May 15. Drawing inspiration from the high-speed precision of motorsports, the championship merges the excitement of competitive trading with the dynamics of real market conditions. Participants will be able to test the platform’s capabilities—its robust stability, ultra-fast execution, and strong fault tolerance—under scenarios simulating extreme stress and velocity.

Zoomex: Built for Performance, Designed for Users

Zoomex remains steadfast in its mission to provide a fast, stable, and reliable trading environment. Its advanced matching engine delivers millisecond-level responsiveness, even in high-concurrency environments. The underlying system architecture is engineered with fault-tolerant mechanisms and operational resilience, ensuring a consistently smooth trading experience in complex market conditions.

Motorsport’s commitment to precision and collaborative execution aligns perfectly with Zoomex’s product philosophy. Through its partnership with the MoneyGram Haas F1 Team, Zoomex is able to showcase the platform’s “high-load stability” in action, enhancing users’ understanding of its performance and transparency.

Simple and Accessible: Designed for All Users

Zoomex embraces a “simple and easy-to-use” design philosophy. The platform’s minimalist interface and clear module layout ensure that both beginners and experienced traders can complete key tasks—such as deposits, order placements, and setting stop-losses—without complex learning curves.

ZWTC 2025: A Global Trading Championship

The Zoomex World Trading Championship (ZWTC) 2025 is a competitive, global trading event themed around Formula 1. The championship will combine competitive strategy, community collaboration, and user development, offering dynamic trading experiences. The event will feature both squad-based competitions and solo challenges, giving users the chance to experience the excitement of competitive trading while strengthening the platform’s interactivity and community through rewarding experiences.

CEO Statement: A Strategic Leap for Zoomex

Zoomex CEO Jerry Hsu stated, “Formula 1 embodies the pinnacle of technical excellence, speed, and precision. This partnership represents a pivotal milestone for Zoomex as we continue to expand globally. We are excited to leverage this collaboration to showcase our product’s core features—‘simplicity × ease of use × speed’—to a global audience, enhancing users’ understanding of our platform’s performance, trading experience, and technological expertise.”

ZWTC 2025 Now Open for Registration

The registration page for ZWTC 2025 is now live. Users can sign up on the Zoomex website or event page, create teams during the captain recruitment phase, or register for individual participation in the later stages.

For Registration Proceed Here

About Zoomex

Founded in 2021, Zoomex is a global cryptocurrency trading platform that follows the core values of “simplicity × ease of use × speed.” The platform is dedicated to providing users with high-performance, low-barrier trading experiences. Zoomex optimizes both its matching engine and user interaction processes, supporting millisecond-level command responses, and significantly enhancing usability through a minimalist interface. With flexible identity verification mechanisms and a free trading system, Zoomex is building a faster, safer, and more accessible trading environment for users worldwide.

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

$2B USDT Minted on the Tron Network as Daily Transactions Surge 95%

Elendu Benedict
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$2B USDT Minted on the Tron Network as Daily Transactions Surge 95%

The Justin Sun-owned Tron network has recorded an increase in on-chain activities as users and liquidity demand see a massive uptick.

After being under the radar for a prolonged period, the Tron network seems to be finding its footing again. Recent activities have suggested renewed traction towards the ecosystem, which is evident in user influx and liquidity provision.

Tron Network’s Daily Transaction Up 95%

CryptoQuant’s Maartunn recently highlighted an impressive uptick in daily transactional activities on the Tron network. The Tuesday commentary shows that the 30-day daily transaction moving average has increased from early 2024 to mid-May 2025.

Specifically, the numbers grew from 4.3 million to 8.4 million in the aforementioned timeframe, culminating in a 95% uptick. Notably, there were average transaction spikes on some days, like October 20, 2024’s jump to 10.46 million and May 15, 2025’s upsurge to 9.47 million.

Tron 30D Average Daily Transaction

However, the 30-day moving average sieved the spikes and presented a clear picture of the network’s actual activities.

Meanwhile, Maartunn stressed that the glaring traction, possibly steered by factors like growing user interaction and increased stablecoin transfers, indicates stable and increasing user influx to the Tron network.

Tether Mints $2B on the Tron Network

Market intelligence platform Arkham reported minting activity between the Tether Treasury and the Tron network.

The prominent stablecoin issuer created and moved 2 billion USDT from its “Black Hole Address” to the Tether multisignature wallet over two distinct transactions before deploying the tokens on Tron.

Tether $2B Minting on Tron

As usual, Tether’s CEO, Paolo Ardoino, confirmed the transaction, noting it is authorized but not issued, specifically for inventory replenishment on the Tron network. However, Tether’s transparency page shows that the minted USDT is already in circulation, as just $126 million is left in that category, signaling rapid demand for stablecoins on the chain.

Meanwhile, today’s transaction takes the total authorized minting on the Tron network to $75.7 billion, surpassing Ethereum’s $74.5 billion to become the leading chain in USDT supply. Furthermore, Tron’s $75.6 billion net circulation also trumps Ethereum’s $71.2 billion.

Tether’s market cap has now reached $152 billion, making it the third most valuable cryptocurrency, behind Bitcoin and Ethereum.

Possible Market Implications

Meanwhile, TRON has barely reacted to the escalating bullish momentum around its ecosystem. The 10th largest cryptocurrency by market cap is up a moderate 12% in the past month and down slightly in the last seven days, despite the broader market’s positive trend.

However, on a larger scale, Tether’s liquidity injection into the crypto market precedes higher prices. On-chain analytical firm Lookonchain highlighted what this trend means for Bitcoin in a tweet today, providing context for a possible rally to a new all-time high.

For perspective, Lookonchain identified a correlation between Tether’s minting and a Bitcoin rally. The tweet noted that Bitcoin reclaimed $100,000 after three months, owing to the leading stablecoin issuer’s $6 billion USDT minting between April 23 and May 7.

It observed a similar occurrence on May 15, when Bitcoin broke through $105,000 after Tether minted $2 billion USDT. With the latest minting, the analytical firm suggested that the pioneering cryptocurrency could surpass $109,300 if the upsurge pattern repeats.

Bitcoin’s Upsurge Correlation with Tether Minting

In the meantime, BTC trades at $107,293, well above yesterday’s historical closing of $106,909.

As Bitcoin Matures, Each Milestone Demands Exponentially More Capital: Glassnode

Albert Brown
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As Bitcoin Matures, Each Milestone Demands Exponentially More Capital: Glassnode

As Bitcoin matures, its growth rate slows, with each new valuation milestone requiring exponentially more capital, according to analytics firm Glassnode.

Bitcoin extended its bullish streak into the third week of May, rising from around $101,000 on May 15 to over $109,000 by May 21. At press time, Bitcoin had established a new all-time high of $109,500, following an intraday gain of 3.6%. The rally builds on last week’s momentum, during which Bitcoin closed at $106,487, its highest weekly close on record.

Slower Capital Inflows with Network Maturity

Amid Bitcoin’s continued ascent, analytics firm Glassnode presented data signaling a long-term slowdown in capital inflow relative to earlier growth phases. According to its chart titled “Logarithmic Milestones (Realized Cap),” Bitcoin’s realized capitalization, defined by valuing each coin at the price it last moved on-chain, has increased at a decelerating pace as the asset matures.

Image

From early 2011 to February 2013, realized cap jumped from $1 million to $1 billion, reflecting the rapid accumulation of value during Bitcoin’s early adoption phase.

However, the following years exhibited slower growth. The realized cap reached $10 billion in November 2013 and did not hit $100 billion until May 2017. 

Notably, Glassnode’s data shows it has taken nearly six years since then to approach the $1 trillion threshold in 2025. This trend, as highlighted by the flattening curve on the chart, suggests that each subsequent growth milestone requires increasingly more capital inflow.

The implications of this data suggest Bitcoin’s expansion is no longer driven by speculative surges but by broader, more gradual adoption. Glassnode attributes this change to the asset’s maturity, stating that each leap in value as Bitcoin evolves becomes more capital-intensive.

Bitcoin is Still Setting New Records 

In spite of the broader slowdown in long-term capital growth, Bitcoin has continued to post new milestones in recent days. The digital asset notched its highest daily closing price in its 15-year trading history on May 20, with market data from Barchart confirming a close at $106,909. This figure surpassed the previous record of $106,487, which had been set just two days earlier.

This record-breaking daily close followed another significant achievement, Bitcoin’s highest-ever weekly close. 

As the market maintained its bullish tone, breaking an all-time high, many industry commentators like Arthur Hayes are expecting BTC to reach a $1 million value someday.

We’re Not There Yet: Lark Davis Says Shiba Inu Like Explosions Will Return This Cycle

Sam Wisdom Raphael
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We’re Not There Yet: Lark Davis Says Shiba Inu Like Explosions Will Return This Cycle

A prominent market veteran believes we’re not there yet in this cycle, calling attention to an early Shiba Inu run that saw it rise exponentially.

Lark Davis (TheCryptoLark), a renowned Bitcoin investor and market commentator, said this to his over 1.3 million followers on X today. The analyst sought to highlight that the market is still in the early bull run phase, and things could “go crazy” from here.

Notably, while Bitcoin (BTC), the crypto market leader, is already retesting all-time highs, the altcoin market is still looking to recover the losses of the past few months, with the TOTAL2 index down 9.66% year-to-date to trade at $1.21 trillion despite the 17.11% gain this month.

Lark Cites SHIB to Illustrate How Wild the Crypto Market Can Get

Most major altcoins, including Ethereum (ETH), XRP, and even Shiba Inu (SHIB), are still miles away from their 2021 peaks. This has triggered caution among investors. To address this, Davis began his commentary by insisting that the market is not there yet despite Bitcoin’s gains.

He stressed that the crypto market, which often presents opportunities for massive gains, tends to go crazy during bull seasons. However, Lark suggested that this “crazy” period has not yet materialized in the current bull market cycle. According to him, “things get so stupid” when such crazy times come, leading to unreasonable gains.

To present an instance, he quoted a disclosure from crypto trader Trade IV, who recently indicated that Shiba Inu exploded from an $8 million market cap to $2.5 billion in just 50 days. This translates to a 312x increase, showing how massive crypto gains can go once those crazy times come. 

Notably, this 312x rise likely occurred in 2021 during the previous bull run, but Trade IV provided no further context. The Crypto Basic sought to verify the claim but found that the reality was even more impressive. 

Did Shiba Inu Ever Deliver Such Gains?

Specifically, data from CoinMarketCap indicates that Shiba Inu had a price of $0.00000008 as of April 11, 2021. This was about eight months after SHIB launched, boasting a modest volume of $6.9 million at the time. At the price of $0.00000008, SHIB had a market cap of $80 million, considering its supply of 1 quadrillion tokens then.

Shiba Inu Price in April 2021 CoinMarketCap
Shiba Inu Price in April 2021 | CoinMarketCap

However, a month later, on May 11, 2021, Shiba Inu’s price jumped to $0.00003469. With this price, Shiba Inu’s market cap hit a high of $34.69 billion. This marked a massive 433x increase from the valuation the meme coin had a month before.

Shiba Inu Price in May 2021 CoinMarketCap
Shiba Inu Price in May 2021 | CoinMarketCap

Lark confirmed that besides Shiba Inu, other assets have delivered similar returns, confirming that this remains a pattern within the crypto market. According to him, “there is money to be made” in the crypto market, and there will be a particular time for that. 

He noted that such a time might come up this year. In his words, investors have to survive the ongoing market lull and just hold on till those crazy times come up. Currently, Shiba Inu changes hands at $0.00001479, still down from the May 11 peak.

Guatemala’s Largest Bank Onboards SukuPay for Stablecoin Remittances into $21B Market

Abdulkarim Abdulwahab
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Guatemala’s Largest Bank Onboards SukuPay for Stablecoin Remittances into $21B Market

Guatemala’s largest bank, Banco Industrial, has fully integrated SukuPay into its mobile app Zigi to enable real-time and cheap remittances from the U.S. 

According to the official press statement, this marks the first time a crypto payment protocol has been embedded at this level within a major Latin American retail bank’s consumer application.

$0.99 Remittances in Under 20 Seconds With Just a Phone Number

The SukuPay-powered experience allows Guatemalan users to receive U.S. remittances instantly using only their phone numbers. It requires no IBANs, crypto wallets, or additional apps. Transfers cost $0.99 and settle in under 20 seconds, 24/7, whether initiated through Apple Pay, debit cards, or cash at retailers like CVS or Walmart.

While stablecoin rails drive the speed and affordability behind the scenes, users interact only with their existing Zigi app, maintaining the familiar banking interface they trust.

Tackling a $21B Problem in Guatemala

For context, Guatemala receives over $21 billion annually in remittances, making it Latin America’s second-largest recipient after Mexico. Yet, traditional remittance systems are still slow, costly, and overly complex for the average user.

SukuPay addresses this by abstracting away the crypto complexity, embedding a blockchain solution within a user-centric experience. The move is a step toward modernizing financial infrastructure in emerging markets, especially for populations underserved by legacy banking.

By partnering with SukuPay, Banco Industrial has sidestepped the need to build a proprietary cross-border payments system. Instead, it gains a scalable, compliant infrastructure with minimal disruption to its core operations. This convenience comes with offering cutting-edge services to its millions of customers.

“This is not just a feature; It is an infrastructure upgrade,” said SukuPay CEO Yonathan Lapchik. “We are powering real-world payments that work for both the banked and the unbanked.”

Michel Caputi, Head of Strategic Alliances at Banco Industrial, added that by integrating SukuPay into Zigi, Banco Industrial is improving remittances and establishing a new standard in Latin America.

The Bigger Picture

The SukuPay–Banco Industrial partnership highlights the increasing adoption of stablecoins for cross-border transactions. The stablecoin market has surpassed $250 billion, with projections suggesting it could exceed $2 trillion by the end of the decade.

It also reflects a broader trend where crypto infrastructure is increasingly fading into the background. Rather than requiring users to understand blockchain technology, these solutions focus on delivering real-world outcomes, offering faster, cheaper, and more accessible payments.

Rich Dad Poor Dad Author Predicts Bitcoin Price If Gold Hits $25K, Says the End is Here!

Lele Jima
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Rich Dad Poor Dad Author Predicts Bitcoin Price If Gold Hits $25K, Says the End is Here!

Robert Kiyosaki, the author of the financial literacy book Rich Dad Poor Dad, sets an ambitious price target for Bitcoin, assuming gold soars to $25,000 per ounce. 

In a message dubbed ‘The End Is Here,’ Kiyosaki issued a warning about the United States’ monetary policy, alleging that it has slid into hyperinflation. According to the tweet, he urged his followers to imagine a scenario where they organize a party without a guest. 

Hyperinflation is Here 

Kiyosaki claims that something similar occurred yesterday when the Federal Reserve (Fed) held an auction for U.S. bonds, but investors shunned the exercise. With investors shunning the new U.S. debt, the financial guru alleged that the Fed secretly bought $50 billion worth of bonds. 

Following this development, Kiyosaki declared that the party was over, noting that the U.S. economy is currently in hyperinflation. He speculated that the Fed’s bond-buying trend would wreak havoc on the U.S. dollar, financially wiping out millions of people, including the elderly and young. 

Good News for Store of Value Assets (Bitcoin, Gold, and Silver) 

Interestingly, he predicted massive price spikes for assets with store-of-value utility, including Bitcoin and precious metals like gold and silver. 

During this alleged hyperinflation, Kiyosaki predicted that gold’s price would soar to $25,000 per ounce, representing a surge of 671.6% from the current value of $3,240. In addition, he sets a conservative target of $70 for silver, marking a slight increase of 109.7% from $33.38, where it currently trades. 

The author of Rich Dad Poor Dad suggested that if gold clinches the $25,000 target, then the price of Bitcoin could climb to $500,000 – $1 million. At press time, Bitcoin was trading at $107,283, up 2.67% in the past 24 hours and 4.1% in the past week. 

Therefore, to hit the $500,000 – $1 million targets, Bitcoin must rise by 366%—832% from its current value. If this happens, Bitcoin would have a market cap of $9.93 trillion to $19.86 trillion. 

However, the financial expert did not set a specific timeline for gold, silver, and Bitcoin to clinch the predicted targets. 

Meanwhile, Kiyosaki’s bold price call for Bitcoin is not new. Last year, he issued a similar prediction for Bitcoin, forecasting that BTC would climb to $500,000 before the end of 2025. Further, he predicted that the premier cryptocurrency would continue its price surge to a loftier target of $1 million by 2030. 

SUI Forms Rising Channel, Eyes New All-Time High at $6

Albert Brown
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SUI Forms Rising Channel, Eyes New All-Time High at $6

SUI is trading within a rising channel, targeting $6. A bullish breakout, RSI divergence, and $2 billion TVL fuel momentum amid growing ecosystem demand.

With Bitcoin hitting a 24-hour high above $108,000, altcoins are preparing to bounce back. One altcoin showing strong underlying potential is SUI, currently trading at $3.86. Amid ongoing network expansion, SUI has formed a rising channel, aiming for the $6 level and a new all-time high.

SUI Price Analysis

On the daily chart, SUI’s price action reveals a bullish breakout from a falling wedge pattern. This breakout initiated the ongoing uptrend, accounting for a 100% surge from $1.91 to $3.86 between April 7 and May 21.

SUI Price Chart
SUI Price Chart

Currently, SUI is forming higher lows within a rising channel. This structure emerged after the price bounced off the 23.60% trend-based Fibonacci level at $3.30.

The bullish recovery has led to a golden crossover, with the 50-day EMA crossing above the 200-day EMA. In addition, there’s a positive crossover between the 50- and 100-day EMAs, reinforcing bullish momentum.

Adding to the case for an extended rally, the daily RSI line shows a hidden bullish divergence, forming a lower low while the price continues to rise within the channel.

Thus, technical indicators support the potential for further upside in SUI. The 38.20% Fibonacci level, serving as immediate resistance at $4.6335, represents a 20% upside if the trend holds.

With broader market recovery, the SUI bull run could optimistically reach the 50% Fibonacci level at $6.08, setting a new all-time high.

On the downside, if SUI fails to maintain support at the lower boundary of the rising channel, a retest of the 50-day EMA near $3.31 is likely.

SUI Network Expansion Drives TVL Above $2 Billion

Bolstering the bullish outlook, the SUI network continues to grow. According to SuiScan, total value locked (TVL) has surpassed $2 billion, with total transactions exceeding $10 billion.

SUIScan
SUIScan

Currently, the total number of accounts on the network is approaching 200 million. Additionally, DEX volume is on the rise. Notably, ecosystem liquidity has significantly improved, with the stablecoin market cap reaching $1.15 billion, recording a 22% increase over the past week.

This network expansion is expected to drive demand for SUI’s native token.

Binance Coin BNB Breaks Bull Flag, Targets $750 Amid Maxwell Hardfork Buzz

Albert Brown
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Binance Coin BNB Breaks Bull Flag, Targets $750 Amid Maxwell Hardfork Buzz

Binance Coin (BNB) surges 1.57% to over $650, breaking a bull flag. EMA crossovers and the Maxwell hard fork fuel a potential rally to $750.

With the crypto market bullish on Wednesday, Binance Coin has crossed $650. The recovery marks a bull flag breakout, hinting at a potential rally to $750, supported by positive EMA crossovers.

Binance Coin Price Analysis

On the daily chart, the Binance Coin price has broken out of the falling channel pattern that has been in place since December 2024. The recent price surge of nearly 15% in early May led to a breakout from the falling channel pattern, with a new peak near $680.

Binance Coin Price Chart
Binance Coin Price Chart

However, due to bullish exhaustion, BNB recently retested the $637 support level, which was highlighted by the late March peak. With the intraday surge, BNB Coin has marked a bullish breakout from the short-term pullback, suggesting an extended recovery.

Based on the bull flag formed by the recent breakout rally, BNB Coin shows a 16% breakout potential to reach the $750 milestone. Supporting this bullish outlook, the 50-day EMA has recently surpassed the 200-day EMA, marking a golden crossover.

Additionally, it has surpassed the 100-day EMA, signaling a second positive crossover within just a week. As the bullish influence grows, the daily RSI line rebounds before touching the halfway point, signaling a resurgence in bullish momentum.

Therefore, the technical patterns and indicators suggest a potential rally to the $750 level. However, a short-term hurdle may be encountered near the psychological level of $700.

On the contrary, a potential pullback could retest the $637 support level if the broader market becomes volatile.

Maxwell Hardfork Ignites Bullish Buzz

The surge in optimism driving the bullish trend in BNB is fueled by the announcement of the upcoming Maxwell hard fork. In a recent tweet, Binance Chain highlighted that the Maxwell hard fork will bring three major upgrades to Binance Smart Chain.

The BEP-524 upgrade will reduce the current block time to under 1 second, to 0.75 seconds. Furthermore, BEP-563 aims to enhance the validator network messaging, while BEP-564 will drive smarter fetching logic.

 

Rising Short Liquidations Amid OI Nearing $800M Shows Bullish Intent

Notably, the BNB futures market is also witnessing a surge in optimism, highlighted by a 2.56% increase in BNB Open Interest, reaching nearly $800 million. The surge in Open Interest occurs despite $423k in short liquidations over the past 12 hours, reflecting the growing bullish narrative in Binance Coin Futures.

Additionally, the OI-weighted funding rate of 0.0033% reflects strong bullish intent compared to previous levels. Thus, the BNB derivatives data indicate an overall bullish anticipation for an extended rally.

BNB Coin Derivatives
BNB Coin Derivatives
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