The cryptocurrency market is experiencing significant fluctuations, with various assets showing promising trends. Here's a rundown of the latest news:
Market Updates
- *$BTC Price*: Bitcoin's value dropped slightly to around $107,846, with a 1.63712% decrease. Analysts predict a potential rally to $111,000 following a soft CPI print that fuels rate cut talks.
- *Ethereum Price*: Ethereum holds above $2,700, with technical support at this level. Its price forecast indicates potential growth, but market volatility may impact its trajectory.
- *$XRP Price*: XRP's uptrend slowed below $2.33, mirroring a SuperTrend sell signal. However, it maintains confluence support at $2.26, and its usage is expanding with Guggenheim Treasury issuing Digital Commercial Paper on the XRP Ledger ¹ ².
Notable Developments
- *Hyperliquid*: Hyperliquid reached an all-time high of around $43, with a 34% increase in open interest in June. This surge indicates elevated interest in HYPE despite prices touching all-time highs.
- *US-China Trade Agreement*: The US-China trade agreement has had a muted impact on the crypto market, with Bitcoin and Ethereum showing slight decreases.
- *Guggenheim Treasury*: Guggenheim Treasury has issued Digital Commercial Paper on the XRP Ledger, modernizing commercial paper infrastructure with faster settlements and lower transaction costs.
Meme Coins and Altcoins
- *Dogecoin, Shiba Inu, and Pepe*: These meme coins have recovered sharply, overcoming a flash crash. Analysts predict they may extend their bullish trend.
- *Solana*: Solana's price surged 17%, with potential to break past $176. Whales are accumulating $SOL , indicating growing interest.
Regulatory News
- *GENIUS Act*: The GENIUS Act has won a crucial vote, heading to the Senate floor vote. This development may impact the crypto industry's regulatory landscape.
- *Nigerian Government Warning*: The Nigerian government has issued a fresh warning against the CBEX Crypto exchange, highlighting the need for caution in the crypto space ¹ ².
