U.today

After losing support above the 50 and 100 EMA levels, XRP took a serious hit, falling more than two points and now trading at about $2.12. At first glance, this pullback might appear to be a bearish signal, but the bigger picture indicates that XRP may be preparing for a much more robust rebound. Today the asset has landed squarely on its 200-day moving average, which has historically served as dynamic support for a number of significant tokens.

Statistically speaking, a bounce from this point is not only possible but also typical, particularly when selling momentum is accompanied by higher volume and RSI indicators move into oversold territory. There is still plenty of opportunity for a reversal as XRP's RSI is currently just above 45.

In terms of structure, XRP has been forming a long-term descending triangle for the past few months, and it appears to be coming to an end. Even though this decline is steep, it seems to be a retest of the 200 EMA, as well as the larger pattern's lower support trendline. A breakout move toward the $2.45-$2.60 range could result from a successful hold at this level, which would complete the last leg of consolidation.

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It is important for investors to keep in mind that this could be a bear trap, a fakeout move intended to shake out weaker hands before the price reverses. The short-term recovery of the $2.20 zone by XRP could indicate a resurgence of buying interest and the beginning of an upward trend. Currently, the key levels to keep an eye on are resistance at $2.26 and $2.45 and support at $2.09.

Breaching either will provide a clear indication of direction, but if the macro sentiment does not worsen further, the current setup favors a bounce. To sum up, the recent decline in XRP may cause anxiety, but it may also act as a catalyst. When psychological and technical support levels come together, XRP is in a critical recovery zone. The bullish reversal thesis should be confirmed by volume confirmation and daily closes above $2.

Major cryptocurrency exchange Coinbase has announced three new crypto asset listings, adding to its ever-expanding pool of tradable tokens and providing traders with more ways to diversify. Along with this, it has announced the addition of a new crypto asset to its roadmap, which indicates its potential asset listing.

In recent tweets, Coinbase announced that three crypto assets — PancakeSwap (CAKE), Subsquid (SQD) and Fartcoin (FARTCOIN) — are now available on the Coinbase platform and in the Coinbase iOS and Android apps, allowing users to buy, sell, convert, send, receive or store these assets.

Assets added to the roadmap today: Sonic (S)https://t.co/rRB9d3hSr2

— Coinbase Assets 🛡️ (@CoinbaseAssets) June 12, 2025

Fartcoin (FARTCOIN) is based on the Solana network (SPL token), while Subsquid (SQD) is on the Arbitrum network. PancakeSwap (CAKE) is an ERC-20 token on the Ethereum network.

Support was also added for Fartcoin perpetual futures on Coinbase International Exchange and Coinbase Advanced.

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Meanwhile, new assets have been added to the roadmap, including Sonic (S). Coinbase just expanded its send and receive support for Worldcoin (WLD) to include World Chain, Ethereum and the Optimism network. Also, Ethena (ENA) is now available on Coinbase and in the Coinbase iOS and Android apps.

2025 shaping up to be major crypto year

According to new Coinbase data, organic stablecoin transfer volume has reached all-time highs, with the two largest monthly volume transfers in history occurring in the last year. December 2024 achieved a monthly volume record of $719 billion, followed closely by April 2025 at $717.1 billion.

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According to a survey of Fortune 500 executives and small and medium-sized businesses (SMBs), 81% of crypto-aware SMBs are interested in using stablecoins in their business, and the number of Fortune 500 companies that say they plan to use or are interested in stablecoins has increased more than threefold since 2024. With over 161 million stablecoin holders worldwide, with a 54% increase in global stablecoin supply year on year, 2025 might be shaping up to be the breakout year for stablecoins.

A significant XRP transaction has recently caught the attention of the market, with $59,925,621 worth of XRP transferred to Coinbase in just minutes within a single transaction.

According to blockchain data tracker Whale Alert, "26,671,734 XRP worth $59,925,621 was transferred from unknown wallet to Coinbase."

Deposits to exchanges might imply an intent to sell, while withdrawals might signify buying; the move might also be a mere reshuffling of funds; however, the exact reason remains unknown.

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At press time, XRP price was recording losses, extending its drop into the fourth day since June 9. The drop caused a loss of the daily SMA 50 at $2.28, reaching a low of $2.08 in the early Friday session.

XRP price in red

XRP price is trading in red, down 5.24% in the last 24 hours to $2.13, as the broader crypto market faced intense selling pressure in the early Friday session.

Crypto markets reported significant losses, with over $1.16 billion in liquidations wiping out leveraged positions across major exchanges, marking one of the bloodiest days in recent months.

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CoinGlass data suggests 248,624 traders were liquidated in 24 hours. Long traders took the brunt of the losses, accounting for over $1 billion, indicating overly optimistic positioning after a week of bullish sentiment.

Optimism remains

XRP is currently gaining attention for its growing footprint in corporate treasuries. Webus International ($300 million), VivoPower ($121 million) and Wellgistics ($50 million) have together set aside more than $470 million in XRP for their treasury strategy.

The SEC and Ripple have jointly filed a motion to dissolve the injunction in their case and release the $125 million civil penalty. $50 million would go to the SEC, with the remaining $75 million refunded to Ripple based on the proposal. The action aims to resolve remaining appeals in the Second Circuit and prevent extending the matter into another year of judicial battling.

SHIB’s lead Shytoshi Kusama, his right-hand developer Kaal Dhairya and marketing lead Lucie have announced the rollout of the Shiba Alpha Layer, announcing that SHIB has left its meme coin status far behind. Lucie referred to it as “Infrastructure for the Next Web3 Wave” in her tweet.

The Shiba Alpha Layer has been officially released in beta so far.

L3 solution goes live in beta

According to a post on Binance.Square shared by Lucie, Shiba Alpha Layer is a modular rollup abstraction stack created by the SHIB team in collaboration with ElderLabs and anchored to Shibarium. It offers optional FHE privacy, one seamless UX for all RollApps, an option to pay gas fees not only in BONE but also in SHIB and other coins, as well as stablecoins (USDT, USDC, etc).

Native interoperability and instant bridging will be added soon to this new layer. “No VC funding. No empty promises. Just code,” the post claims.

Shiba Alpha is to turn Shibarium into a L3 settlement layer, and with it “every RollApp gains shared security and real SHIB token utility.”

Shiba Inu Launches Shib Alpha Layer — Infrastructure for the Next Web3 Wave https://t.co/esPGPf4cuU

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 13, 2025

The lead developer, Shytoshi Kusama, who has broken a two-week silence on social media, has also drawn the community’s attention to the post about Shiba Alpha Layer published by the SHIB top developer, Kaal Dhairya. The latter stated that after this rollout, Shiba Inu is no longer just a meme coin, as the “meme era ends here.”

READ THIS: https://t.co/zZcjV0VhHv

— Shytoshi Kusama™ (@ShytoshiKusama) June 13, 2025

As for Kusama, he has again promised to publish “an AI-focused whitepaper” soon and share his take on AI and SHIB’s strategy related to it.

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SHIB burns skyrocket 82,366.5%

A tweet published by the Shibburn tracker a few hours ago reveals that one of the key Shiba Inu metrics – the burn rate – has displayed a staggering five-digit increase over the past 24 hours.

HOURLY SHIB UPDATE$SHIB Price: $0.00001157 (1hr -1.22% ▼ | 24hr -10.50% ▼ )Market Cap: $6,804,613,577 (-10.60% ▼)Total Supply: 589,250,987,092,002TOKENS BURNTPast 24Hrs: 117,028,210 (82366.5% ▲)Past 7 Days: 154,682,401 (34.94% ▲)

— Shibburn (@shibburn) June 13, 2025

The X post reported that over the past day, daily SHIB burns have soared by a whopping 82,366.5% thanks to 117,028,210 SHIB meme coins transferred to unspendable blockchain wallets.

The two largest burn transactions carried 97,568,806 SHIB and 14,047,018 SHIB.

Charles Hoskinson, the founder of Cardano, has shared insight into what the Cardano community should expect regarding the ecosystem's decentralized Sovereign Wealth Fund (SWF). He gave the update in an 18-minute-long podcast on X, to members of the ecosystem.

Update on strategic Bitcoin diversification and ADA buybacks

According to Hoskinson, the team is considering several approaches to improving and growing the Cardano SWF. He maintained that the goal is to use the fund's resources to benefit the ecosystem.

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Hoskinson explained that the decentralized Cardano SWF is similar in principle to how countries like Norway invest national wealth into assets for future benefits. He proposed investing a small portion of the Cardano treasury in different assets.

Cardano Decentralized Sovereign Wealth Fund https://t.co/8RIELNl872

— Charles Hoskinson (@IOHK_Charles) June 13, 2025

"Could we take about $100 million worth of ADA in the treasury, convert it to a blend of a collection of stablecoins … and also convert some of it to Bitcoin to prime the Bitcoin/DeFi?" he asked.

The idea is to diversify risk, generate yield over time and use that income to buy back ADA. This way, the SWF supports the Cardano ecosystem and grows ADA's value over time.

By investing in Bitcoin, Cardano could earn profit over time without risking too much of its core treasury.

Additionally, using the profit to buy back ADA could drive demand for the coin and support its market price. Overall, Charles Hoskinson is proposing a self-sustaining financial model for the community.

Cardano community reacts to Sovereign Wealth Fund

Hoskinson acknowledged that this proposal would require patience and time to grow. He maintained that reinvesting the yield annually over five to ten years could yield massive results for Cardano.

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He insisted that diversification is critical to preserving assets' buying power. This could boost support for the more widespreadadoption of ADA in the financial space.

The update has sparked mixed reactions from community members, with one, Chad Luce, suggesting alternatives. Luce opined that a Private Equity Fund or Green Energy Fund could attract investors and perform better than the proposed SWF.

Bitcoin has officially completed a well-known technical setup that could shape its next major move - and it is catching the attention of seasoned traders, especially after market legendJohn Bollinger highlighted it in his latest chart update.

The pattern in play is a combination of a "W" bottom followed by what is known as "Three Pushes to a High." It is a pretty standard technical analysis structure, and it often appears near the end of strong trends.The Bitcoin price formed a rounded bottom between March and April, then climbed in three distinct waves, reaching just above $110,000 before losing momentum.

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Bollinger first pointed out the W setup back in April, and on June 12 he shared a chart with notes on it. This chart showed that the third push has now failed, which is a small but important change that could be a turning point.

First posted about the W in $BTCUSD on April 10th. Here's that annotated chart I promised. Three Pushes now confirmed.https://t.co/xzKEwV06RT

— John Bollinger (@bbands) June 12, 2025

While the pattern does not guarantee a reversal, it usually means the previous trend is losing steam and a new phase – either a sideways consolidation or correction – is likely.

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Price action is currently sitting justbelow the middle Bollinger Band, which is a key area to keep an eye on. If Bitcoin can hold this level, it might just drift sideways and regroup. If it dips below that, it could lead to a bigger pullback toward the lower band around $94,000.

But if there is a big bounce with more volume, it might show that the trend is not cooling off after all.

This is less about calling a top and more about acknowledging that the rally's structure has shifted. The market's next move is going to set the tone for the rest of the quarter, and right now, everyone's watching to see if buyers still have the energy to push prices up.

According to a Friday report by the Wall Street Journal, Amazon and Walmart are considering issuing their own dollar-backed cryptocurrencies.

This would allow the American merchant powerhouses to potentially save billions in fees and speed up settlements by bypassing traditional payment systems.

For now, such plans are only in the exploratory stages, but they show that crypto finally has a mainstream use case.

As reported by U.Today, Apple, Airbnb and several other tech giants are also exploring corporate stablecoins.

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Traditional financial institutions such as Bank of America and Fidelity are also preparing to join the trend.

These moves come amid the impressive growth of the stablecoin sector and a rapidly improving regulatory environment.

As reported by U.Today, the GENIUS Act, which is meant to regulate the stablecoin sector, advanced in the U.S. Senate earlier this week. The final vote has been scheduled for June 17.

Standard Chartered recently estimated that the stablecoin market could swell to a whopping $2 trillion in just three years.

Michael Saylor, who cofounded Bitcoin treasury company Strategy and leads it as executive chairman, has suddenly taken to X platform to publish a daily Bitcoin tweet - much earlier than he usually does.

Saylor releases "Bitcoin-hope" tweet

Saylor seems to have rushed to issue a BTC-supportive tweet, just as Bitcoin began to recover and added 1% today so far. It displayed a brutal 4.2% crash on Friday after the recent gloomy geopolitical developments in the Middle East.

“Bitcoin is hope,” Saylor tweeted, adding this as a caption to an AI-generated image of himself standing in the desert surrounded by cactuses, with one of them blooming right in front of Saylor.

Bitcoin is Hope pic.twitter.com/iE5w70c69O

— Michael Saylor (@saylor) June 13, 2025

This may be a metaphor that underpins the belief of many Bitcoin maximalists, including Max Keiser, that all military conflicts on Earth are a result of the current fiat money system. They reckon that as soon as Bitcoin replaces the U.S. dollar and other fiat currencies, those conflicts will stop for good.

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Currently, Bitcoin is changing hands at $104,720 per coin after losing the $108,300 level on Thursday.

"If you have everything - you don't need Bitcoin," Saylor says

In a tweet on Thursday, Saylor underscored Bitcoin’s ability to provide financial freedom and access to the financial system for those underprivileged who are deprived of it. He opined that only those who “have everything...do not need Bitcoin.” Thus, he has once again stressed his belief in the power of Bitcoin to transform the world in the near future.

His Bitcoin treasury company, Strategy, continues to accumulate BTC persistently. Over the past few months, Saylor has been announcing a new Bitcoin purchase every Monday. This week, the announcement revealed an acquisition of $100 million worth of BTC. This brings the company’s current holdings to roughly 582,000 Bitcoin, worth more than $61 billion. Earlier this week, Strategy also launched its STRD Bitcoin-backed shares on the Nasdaq exchange after upsizing the STRD investor offering from $250 million to approximately $1 billion.

Though the recent price correction of Bitcoin has caused some concern, it is a relatively controlled shakeout in comparison to earlier liquidation cascades. Although the price has fallen from the $110,000 range to about $103,000, as of press time, liquidations on significant exchanges such as Binance have remained remarkably contained, with no long position worth more than $200 million being wiped out.

This suggests a more planned correction as opposed to a sell-off triggered by panic. Technically speaking, Bitcoin is now trading close to its 100-day moving average after breaking below its 50-day EMA. Bulls and bears will engage in short-term combat on these two levels.

The 200-day EMA or $98,000 is the next significant support if Bitcoin is unable to hold above $103,000. If sell pressure subsides, there may be a bounce. A glaring liquidity gap between $105,000 and $103,000 can be seen by examining the CoinGlass footprint chart and heatmap. Sellers quickly took advantage of this area as strong downward movement replaced thin order books.

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Interestingly, the red-highlighted box shows a spike in short-term volume and a drop in open interest, indicating that leveraged long positions were flushed out, albeit not disastrously. The lesson in general? This was not a historic long squeeze. Instead, after weeks of erratic price movement, we were probably witnessing a market recalibration.

The lack of significant liquidation events indicates that investors are less willing to take on risk and that leverage is not yet at dangerously high levels. Unless a fundamental catalyst appears, Bitcoin might keep consolidating between $98,000 and $105,000 in the future. For the time being, the market seems to be absorbing the decline without completely caving in, but any prolonged move below $100,000 could signal a more serious test of sentiment.

One encouraging indication is the absence of severe liquidations. Despite the pressure on Bitcoin, the market is still operating within typical volatility bounds, providing traders with a window of stability before the next significant move.

The enigmatic Shiba Inu lead developer, known to the community under the alias Shytoshi Kusama, has returned to social media after an absence of almost two weeks. In his X post, Kusama has teased the upcoming SHIB whitepaper focused on AI.

This happened just as SHIB’s top developer, Kaal Dhairya, announced the rollout of the L3 network on Shibarium.

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Shytoshi Kusama returns with teaser

Kusama mentioned “big news” from TokenPlayAI, Shibarium’s partner and “part of a much larger AI strategy,” which the Shiba Inu team has been busy developing for many months now.

The last time Kusama was in touch with the SHIB community on the X platform was May 30, which is almost two weeks ago. Back then, he published several tweets about AI, calling it a major game-changer, which the majority of people do not even realize.

He also changed his bio line on his X profile, saying that he was writing “a final white paper exploring Ai, Shib, Shy.” He stressed that the SHIB team is likely to play an important role in “this upcoming new age.”

In the tweet published on Thursday, Shytoshi Kusama also mentioned this whitepaper, promising: “I'll speak more about my view on AI and our partners in an upcoming AI focused whitepaper.”

In case you missed this big news with @TokenplayAI (powered by @Astra__Nova). This is part of a much larger AI strategy we have been developing for months. I'll speak more about my view on AI and our partners in an upcoming AI focused whitepaper. Stay tuned. https://t.co/soqnS5QT0B

— Shytoshi Kusama™ (@ShytoshiKusama) June 12, 2025

Several times before, this year, Kusama disappeared from the public eye on social media. This time, however, the community did not seem worried, anxious or concerned about his absence, as if confident that he is just being quiet for a while, as he is busy working on expanding the SHIB ecosystem.

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Shib Alpha Layer launches in beta

On Thursday, SHIB developer and Shytoshi’s right hand-man, Kaal Dhairya, published a tweet to announce that the layer-3 solution Shib Alpha Layer has finally been rolled out in a beta version.

It was built with ElderLabs and settled on Shibarium, he revealed. The new product offers single-chain UX, fast and “sky-high” transactions per second, an option to pay gas fees not only in BONE but in other tokens and stablecoins, plug-and-play ShibOS services, etc. Instant bridging and native interoperability are coming soon on it as well.

Today we flip the script.For years we’ve been called “just a meme,” spammed with Wen Shibarium?, and drowned in FUD from bots, burnt deadweight ex-team but instead of arguing, we shipped.Introducing Shib Alpha Layer (beta) — our rollup abstraction stack built with ElderLabs…

— Kaal (@kaaldhairya) June 12, 2025

The ultimate goal of the SHIB team is to build “a world computer where high-performance Web3 dApps thrive without compromise.”

Dhairya stressed that the “meme era” for SHIB and Shibarium ends at this point.

The shares of SharpLink Gaming (SBET), the first Ethereum treasury company, have plunged by more than 70% in overnight trading.

This came after the company filed an S-3 registration statement with the SEC to let it sell securities in the future.

The above-mentioned statement covers nearly 59 million shares of common stock that may be sold to existing investors. The shares come from prefunded warrants, strategic advisor warrants, placement agent warrants and other shares from a private placement.

In a social media post, Consensys CEO Joseph Lubin clarified that the recent regulatory filing is actually being misrepresented since it does not signal immediate share dilution.

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This does not mean that the company is about to sell a lot of shares. It is meant to allow existing investors to resell their shares if they are willing to.

Lubin has stressed that this is a regulator filing following private investment in public equity (PIPE). Hence, it should not be treated as an indication of actual sales that are about to take place.

Furthermore, neither Lubin nor the company has sold any shares, according to the most recent statement.

However, the market has not been swayed by Lubin, with SBET shares still being down by nearly 70% at press time.

The market still does not seem to be on board with the possible issuance of 58.7 million shares (which will take place if all warrants end up being exercised).

As reported by U.Today, ShaprLink raised $425 million via PIPE to make Ether the official treasury asset. Lubin joined as the company's chairman.

Prominent lawyer Bill Morgan has opined that the latest joint motion filed by Ripple and the U.S. Securities and Exchange Commission (SEC) is "very important."

"If the motion is not allowed and the settlement agreement is not varied or a new settlement agreement entered, then there is no settlement and the appeal and cross-appeal would continue," Morgan wrote in a lengthy social media post.

On Thursday, Ripple and the SEC asked Judge Analisa Torres of the United States District Court for the Southern District of New York.

Asreported by U.Today, Judge Torres previously rejected an earlier joint motion filed that was seeking an indicative ruling in a blow to Ripple.

The rejection motion was asking the judge to indicate whether she would greenlight the settlement agreement if the case were to be remanded by the Second Court of Appeals.

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It is worth noting that the SEC agreed to dramatically reduce Ripple's fine to just $50 million (from the original $125 million) and ask the court to dissolve the injunction that prevents Ripple from selling XRP to U.S.-based institutional buyers.

The motion was rejected by Judge Torres for being "procedurally improper" while also noting that the parties failed to justify the necessity for modifying the final judgment.

In the most recent joint motion, the parties cite "exceptional circumstances" such as the agency's crypto policy shift.

If it ends up being rejected by the court as well, Morgan believes that it could potentially result in a new settlement agreement.

The asset may either stabilize or continue to decline as Shiba Inu approaches a crucial turning point. For the past two days, SHIB has been unable to overcome a significant resistance level, and it is currently trading at $0.00001277. This level corresponds with the 26-day Exponential Moving Average, which seems to be functioning as a strong rejection zone at this time. Price action has not closed above the $0.00001336-$0.00001390 range, where the 26 EMA, 50 EMA and 100 EMA are closely stacked despite several attempts to move higher.

Two consecutive days of price rejection by the 26 EMA, in particular, is a strong technical indication that market participants are hesitant to commit to the upside. The market's general hesitancy is reflected in this impasse. This week's drop in volume indicates that neither bulls nor bears are very interested or convinced.

This lack of momentum around a key resistance, however, frequently comes before a breakdown, particularly when market sentiment or fundamentals are not getting better. Since mid-May, the horizontal support level around $0.00001200 has held, and this is the area of greatest immediate concern. There is a good chance that SHIB will retest that support if the 26 EMA rejection holds and selling volume rises.

Furthermore, the structure indicates that it might not hold this time. Investors need to exercise caution. The 26 EMA is essentially acting as a ceiling that, in the present circumstances, is becoming unbreakable. A deeper correction is more likely in the absence of new inflows or a potent macro catalyst.

Ethereum is close

Ethereum is poised for a big breakout, and it could cross the $3,000 mark with just one powerful growth wave. ETH is now trading at about $2,750 after breaking out of the narrow consolidation channel it had been following for the majority of May and clearing a significant resistance zone.

Technically, things look good. Every major moving average, including the 50, 100 and 200-day EMAs, which act as layered support below the current price, is comfortably above Ethereum's current level. With ETH recently confidently reclaiming the $2,600 level and soaring above $2,750, this foundation strengthens the bullish narrative.

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A slight increase in volume on recent green candles suggests that buyers are entering the market with new vigor. Because it is above 60, the Relative Strength Index (RSI) indicates bullish momentum without going into overbought territory. Instead of peaking, these indicate that the market is warming up. At this point sentiment-driven resistance is the only thing keeping Ethereum from reaching the psychological $3,000 level.

A persistent push fueled by general market optimism or a catalyst like ETF news or network updates could easily send ETH into new local highs as there are not any significant technical barriers above the current levels. The next move for traders should be a slow grind up toward $2,900-$3,000 if the current support around $2,600-$2,650 holds. A rejection from this point would probably retest support at the 200-day EMA, which is at about $2,473. However, given Ethereum's strengthening structure, that scenario now appears less likely.

XRP stands still

One significant conclusion from XRP's recent price behavior is that it is stabilizing, and the $2 price level is now beginning to form solid support for the asset. Above its 200-day EMA, which is currently at $2.09 and has historically been a dependable floor during bullish transitions, XRP is demonstrating strong resilience at the current price of $2.24. Long-term investors often use the 200 EMA to distinguish between the trend continuation and breakdown; it is not just technical jargon.

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Additionally, XRP has so far shown it complete respect. In early June bears tested this level several times but were unable to force a deeper decline. Rather there was a significant uptick in buying interest as XRP recovered and regained ground above its 50-day and 100-day EMAs ($2.25-$2.26).

The RSI is in neutral territory, indicating that the asset is coiling rather than overbought or oversold, while volume has stayed steady. The idea that $2 is now structural support rather than merely psychological support is supported by this consolidation that occurred just above the 200 EMA.

This changes the risk-reward profile in favor of XRP, but what does this mean for investors? A break is unlikely as long as XRP stays above the $2.09-$2.10 range, and there is a much greater chance of a bounce toward higher resistance like the $2.60 level.

John Deaton, a renowned Ripple advocate and CryptoLaw founder, has taken to X (formerly Twitter) to express his thoughts on the launch of the world’s second-largest stablecoin by market capitalization, USDC, on the XRP Ledger (XRPL).

Circle vs. Ripple: Stablecoin battle in play

While the move has created a buzz across the broad crypto space, it offers businesses and developers the opportunity to mint and redeem USDC tokens on the XRP Ledger seamlessly.

The debut of USDC on XRPL, which has sparked excitement across the XRP ecosystem, has been applauded by John Deaton as he confirms the positive implications the development poses to XRPL and the broader XRP ecosystem.

Matt is correct, this is extremely positive for the XRPL and XRP ecosystem. https://t.co/O47JJKchZJ

— John E Deaton (@JohnEDeaton1) June 12, 2025

John Deaton has made these remarks in response to an analysis made by an X user who considers the move as a challenge from Circle to compete head-to-head with Ripple for stablecoin dominance on the XRPL.

While the challenge seems to put each firm’s efficiency and infrastructure to the test, there is also a positive side to it as it propels XRPL for further adoption, thereby fueling the growth of the broader XRP ecosystem.

Meanwhile, there are speculations that Circle has made the move to leverage Ripple’s groundbreaking foothold in global payments infrastructure and the growing institutional use of XRPL. There are debates that the launch is an attempt by Circle to remain relevant on a high-performance blockchain, positioning it for further growth.

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Following previous reports, it appears that the battle between Ripple and Circle has been long coming, as it was previously rumored that Ripple was attempting to buy Circle for $5 billion. This was no longer the case, as it was reported that the offer was eventually rejected by the USDC issuer for being too low.

Nonetheless, the X user further emphasized that the debut of USDC on XRPL poses more DeFi exposure for the network, noting that it could significantly boost the total value of assets locked (TVL) on the XRPL. Usually, a positive movement in the TVL of a network often positions the native token for future price ascents.

With this development, XRPL has become a major contender in the stablecoin ecosystem, rivaling USDT issuer Tether.

BlackRock has bought more than $160 million in Ethereum (ETH) today. This is the largest daily ETH ETF inflow in the past four months, indicating new momentum in institutional demand, as well as the general investor sentiment towards Ethereum.

This data is provided by Arkham Intelligence, a blockchain analytics site that monitors whale-sized crypto transfers. This amount marks the biggest ETH inflow into the Ethereum ETF of BlackRock since February 5, 2025, when the company purchased $274 million in ETH.

The action of such a large institutional player is important. When a company the size of BlackRock, managing trillions in assets, makes a purchase of this magnitude, it is usually an indication that they have tremendous faith in Ethereum.

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Institutional inflows most likely increase liquidity, reduce volatility, and increase credibility in the crypto space.

The $160M ETH purchase by BlackRock may act as a sign to more risk-averse investors to explore this industry. Institutional adoption has always been considered an important milestone on the way to crypto maturity, decreasing any perceived entry barrier.

Rising interest in Ethereum ETFs

The move is also an indication of rising optimism towards Ethereum ETFs. Bitcoin has been stealing the ETF headlines this year, but Ethereum is now entering the limelight.

If this trend continues, Ethereum could soon attract even more institutional capital, something that long-term investors should consider when building or adjusting portfolios. For short-term traders, BlackRock’s buy-in could mean heightened volatility and trading opportunities as the market reacts.

It may be a good moment to watch key ETH price levels or volume spikes, especially if more institutional purchases follow. In the bigger picture, these movements suggest that the narrative around Ethereum is changing.

As Layer 2 scaling solutions improve and ETH solidifies its position in DeFi and beyond, institutions appear more willing to treat it as a serious long-term asset, not just a speculative play.

This BlackRock move could be a part of its grand plan to become the largest crypto asset manager in the world within the next five years.

The company revealed that it plans to focus its long-term strategy on Bitcoin, Ethereum, and tokenized funds. In addition, on Wednesday, the asset manager’s BTC ETF broke into the top 20 ETFs globally, according to a recent ranking by Bloomberg analysts.

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken a new, important step, according to a post by Fox Business journalist Eleanor Terrett.

The two parties have requested that the Manhattan District Court approve an injunction and free a $125 million civil penalty that has been in escrow. The step is an indication that the long-standing conflict might be coming to an end.

The proposed $125M resolution

In the proposal, it is also planned that $50 million would be paid to the SEC, and the rest, $75 million, would be returned to Ripple. This is one motion brought before Judge Analisa Torres of the Southern District of New York in a move to have the case settled and prevent the appeals that are pending and any further litigation.

The document, labeled as Case 1:20-cv-10832-AT-SN, was filed through the electronic filing system of the court.

Before the resolution of this Ripple case, the XRP token, which is associated with Ripple, experienced a massive decline in price. The value of XRP will likely increase with a settlement. The investors that have been hesitant to join the market may now be more comfortable, with a brighter future ahead of them.

The possibility of cash flow back to Ripple also implies that the company would be able to reinvest in their business, which will further enhance innovations and developments in the blockchain sector. This would also bring new opportunities to the investors, as a renewed Ripple would further grow its payment solutions internationally, resulting in higher demand for XRP.

Ripple-SEC joint filing suggests regulatory change

Although the court has not granted this motion, the fact that the two sides filed a joint request is already an indication of good cooperation between Ripple and the SEC. Should it succeed, it may become a precedent on how cryptocurrency-based companies can deal with regulatory issues and provide a blueprint to other companies in the field.

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This development, reported by Eleanor Terrett on X, highlights the changing nature of the relationship between regulators and the crypto industry.

In an updated development, Terrett explained that exceptional circumstances, including a settlement, a shift in the SEC's crypto policy, and a wish to avoid more legal battles, might lead to changes in Judge Torres's earlier ruling. This comes after the judge rejected a similar request in May.

As the crypto market continues to see the price of top assets slump harder on June 12, massive crypto transfers involving large amounts of tokens have sparked more concerns. 

Specifically, large SOL transfers have been spotted during the later hours of the day, according to recent data from on-chain monitoring firm, Whale Alert.

960,000 SOL births new whale

According to the data provider, the large SOL transfer saw a total of 2,023,142 SOL transferred in just about two hours. The transfer, which was worth over $320 million, was conducted among unknown wallets, sparking curiosity among investors.

The data shows that the large SOL transfers happened in two separate transactions, with the first transfer carrying the largest amount of SOL (1,063,142 worth over $169 million).

The second transaction, on the other hand, involved the transfer of 690,000 SOL worth over $154 million to a new wallet, which was created just an hour before the transaction was executed.

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While each of the transfers was sent from unknown wallets to an unidentified destination, commentators have expressed curiosity about the reason behind the mysterious large transactions.

Nonetheless, the anonymous nature of this massive SOL transfer has caused crypto holders to wonder if it could be a sign of continued volatility, as the crypto market has continued to see the prices of cryptocurrencies plunge deeper while returning to previous lows.

Following the negative price action witnessed across the crypto market today, commentators are more confident about the mystery transactions being conducted by bearish whales. Notably, the token has seen its funding rate plunge deeper, suggesting that bulls might be exiting the market.

SOL falls 6%

While the mysterious SOL transfers appear unusual, they have come at a time when the broad crypto market is experiencing a massive bloodbath, with the prices of top cryptocurrencies projecting significant 24-hour losses.

The bearish trend did not leave SOL out of the list, as the leading altcoin has declined massively by 6.31% over the last day, according to data from CoinMarketCap.

Following this massive price plunge, SOL is trading at $152.76 as of press time. Usually, significant price drops like this, accompanied with untraceable large transfers often indicates increasing attempts among high profile investors or institutions to sell off their tokens.

In her recentop-ed published by Fortune, Jenny Johnson, chief executive officer at financial giant Franklin Templeton, argues that the financial industry can no longer afford crypto and blockchain, arguing that they represent the future of finance.

Johnson has warned that legacy firms that are reluctant to embrace this disruptive technology could end up getting "wiped out" like American video rental shop Blockbuster.

This inevitable disruption is expected to take place within the next five years, according to the Franklin Templeton boss.

She believes that legacy financial systems are too slow and geographically siloed to remain relevant.

Johnson is convinced that crypto and blockchain can offer significant advantages to investors since they are way more efficient. They offer 24/7 trading, seamless asset tracking, flexible tokenization, and so on.

The 61-year-old executive has noted that such blockchain networks as Solana and Sui can rival Visa in terms of transaction throughput. At the same time, decentralized exchanges of the likes of Uniswap are capable of handling trillions of dollars worth of trading volume.

Franklin Templeton's crypto journey

Franklin Templeton is, of course, not new to crypto. It started exploring the nascent asset class in 2018.

In September 2021, the firm filed to raise $20 million via its first blockchain venture fund.

The company also offers several cryptocurrency ETFs. In late 2024, the company obtained approval to launch the first ETF that combines Bitcoin and Ether in partnership with Hashdex.

As reported by U.Today, Franklin Templeton is also the largest player to file for spot-based Solana ad XRP ETFs.

Here are the top three news stories presented to you by U.Today.

Ripple CEO changes his tune on Dogecoin

Ripple CEO Brad Garlinghousehas shared his current opinion on Dogecoin during his recent appearanceat the Apex 2025 event. Garlinghouse admitted that he used to "speak not so kindly" toward Dogecoin, thinking that it would not reflect well on the industry. Nowadays, however, the Ripple CEO admits that the dog-themed cryptocurrency is not going anywhere. "It's part of the ecosystem. It plays a role," he said. At the same time, Garlinghouse believes that meme coins can have a negative impact on the companies and developers focused on creating real products. He also emphasized that he has never personally invested in meme coins.

Shiba Inu (SHIB) loses 92%: What happened?

Shiba Inu has recently faceda sharp decline in both price and on-chain activity, with large holder inflows dropping over 92% in a week. At press time, SHIB is trading at $0.00001276, down 5.25% over the past 24 hours; it failed to break past key resistance levels marked by major EMAs, which points to a persistent downtrend. According to IntoTheBlock data, the 30-day drop stands at over 56%, indicating that whales are not accumulating. Outflows have also fallen sharply, suggesting that major players are on the sidelines or have already exited. This reduced whale participation raises concerns about liquidity and the potential for a price rebound in the short term. Unless whale interest returns or bulls break key EMAs, the token may keep drifting lower.

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Strategy’s Bitcoin STRD launches on Nasdaq

Yesterday, June 11, Michael Saylor, cofounder and executive chairman of Strategy,took to X platform to announce that Strategy’s STRD began to trade on the Nasdaq. "It’s the third in our series of Bitcoin-backed preferred stocks—designed for fixed income, secured by BTC," wrote Saylor in his announcement. Over the past four years, Strategy has grown into a $100 billion company through aggressive Bitcoin purchases. So far in 2025, MSTR's price has increased by 26%, outperforming major tech companies, such as Tesla, Microsoft, Meta and Amazon, and Bitcoin itself. A week ago, Saylor revealed the company increased its STRD offering from $250 million to nearly $1 billion to fund more Bitcoin acquisitions. At the moment, Strategy holds approximately 582,000 BTC worth around $41 billion, inching closer to the 600,000 BTC milestone.

Litecoin (LTC) has suffered a decline in the past 24 hours as the price continues to nose-dive amid bearish sentiment. The development comes as the coin’s Bollinger Band signals the bearish sentiment could linger for some time.

Litecoin technical indicators turn bearish

Notably, the 20-day moving average on Litecoin’s Bollinger Bands reveals that the price is pointing downward after breaching the support formed by the middle band. This indicates that the overall sentiment in the Litecoin ecosystem remains bearish.

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If this trend continues and nothing forces it to change course, the coin could continue on this downward path, which might trigger another LTC downturn soon.

According to CoinMarketCap data, Litecoin is changing hands at $89.26, representing a 3.59% decline in the last 24 hours. Investors have also pulled back amid the declining price, as trading volume has dropped by 3.51% to $425.29 million within the same time frame.

Litecoin peaked at $94.01 before market volatility plunged it to a low of $88.24. However, the coin’s $88 support level held as it rebounded to the current price.

Meanwhile, per the insight from the Bollinger Bands indicator, LTC could plunge to $83.19 if the trend lingers, except for Litecoin bulls forcing a resistance.

Can Litecoin's history spark rebound?

Litecoin is flashing bearish signals, marking a shift from the 12% price gain it experienced one day in May. Notably, LTC had soared in value to over $90 despite delays by the U.S. Securities and Exchange Commission (SEC) in approving applications for its exchange-traded fund (ETF).

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The development highlights the volatility in the digital asset market space and how fluctuations could impact its price trajectory.

Despite the bearish sentiment, Litecoin market participants anticipate a rebound based on historical trends. Litecoin had an average growth rate of 8.86% in June, and a repeat of history could see the coin hit $97.17.