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Gem Diamonds (LON: GEMD) is buckling under the weight of a worsening diamond market, reporting on Thursday an attributable loss of $11.7 million for the six months ended June 30. The Africa-focused miner took a $10.7 million goodwill impairment as rough diamond prices continue to fall, supply outpaces demand, and lab-grown stones gain ground. The results mark a sharp reversal from the $2.1 million profit posted in the same period of 2024. At its flagship Letšeng mine in Lesotho, Gem Diamonds assessed the recoverable amount of the operation and recorded the impairment to bring the carrying value in line with the market reality. “The industry continues to face significant challenges. Sustained pricing pressure, softer demand in key markets, ongoing macroeconomic and geopolitical uncertainty and tariff uncertainties in respect of India combine to create difficult trading conditions,” chief executive Clifford Elphick said. During the six months to June 30, the company recovered 47,125 carats of diamonds,down from 55,873 carats a year earlier. Average prices slipped to $1,008 per carat from $1,366, dragging revenue down to $45.4 million from $78 million in 2024. Further cost cuts Despite hitting production targets, Gem Diamonds conceded it has not been insulated from tumbling prices and adverse currency swings. In response, the miner said it would accelerate cost cuts, including scaling back Letšeng operations, temporary salary reductions for board and senior management, and laying off about 240 employees — roughly one-fifth of the mine’s workforce. Shares sank more than 35% in mid-afternoon trading on the London Stock Exchange, last changing hands at 4.3 pence. That values the company at just £6.13 million ($8.2 million). Industry under pressure Gem Diamonds’ measures mirror industry-wide distress. In May, Lucapa (ASX: LOM) entered administration after years of weak prices, later securing a lifeline from a Dubai-based investor group. Lucara (TSX: LUC), with operations in Botswana and Canada, also warned in May there was “significant doubt” about its ability to remain a going concern. In July, Burgundy Diamond Mines (ASX: BDM) halted open pit operations at its Ekati mine in Canada’s Northwest Territories, triggering mass layoffs. All three operating diamond mines in the region — Ekati, Diavik and Gahcho Kué — are facing eventual closure, with Diavik set to wind down next year and Gahcho Kué by 2030. Ekati’s long-term future remains uncertain. De Beers, the world’s leading diamond producer by value, has been in limbo since Anglo American (LON: AAL) announced plans last year to sell or spin off the unit. Anglo has twice cut De Beers’ valuation, most recently to $4.1 billion in February, but no buyers have emerged. Botswana, a key partner in De Beers, is reportedly seeking to take control.

ADP Private Employment data This morning's data releases – MarketPulse Economic Calendar In the long awaiting for tomorrow's Non-Farm Payrolls release, Participants can't get enough of more labor data, particularly as ADP employment recently turned out to be a more accurate preview of the US Employment trends (as large revisions to NFP later confirmed. The report came at 54K vs 65K expectations a relatively small miss, but miss nonetheless – and this report reiterates the ongoing downtrend in private employment. ADP Employment in the past 3 years, September 4, 2025 – Source: TradingEconomics Read More: Hesitant equities and (maybe) better relations between US and Canada — North American mid-week Market updateMarkets Already Looking to NFPJobless Claims and Unit Labor Costs The Jobless claims rose to 237K from 230K, with the continuing claims still hanging around November 2021 levels. Continuing Claims since 2023 – A steep rise – Source: TradingEconomics The FED will still be appreciating the Unit Labor Cost data which came at 1% instead of 1.6%, which will help with inflationary pressures. In case you didn’t know, Unit Labor Costs measure how much businesses pay workers to produce one unit of output. Rising costs signal wage pressures and potential inflation, while falling costs suggest easing price pressures. Market reactions are very slow as Markets seem to not exaggerate tomorrow's NFP release which may still differentiate largely from this morning's reports. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Historical data provides a bullish outlook for the XRP price this month, with the altcoin likely to record significant gains based on past performance. Specifically, the average monthly returns show that XRP could even record double-digit gains. Average Monthly Returns Point To Notable Gains For The XRP Price Cryptorank data shows that the XRP price has historically recorded an average monthly return of 13.8% in September. This suggests that the altcoin could again record positive returns this time around, especially as it looks to reclaim the psychological $3 level. Meanwhile, it is worth mentioning that the altcoin has closed the last three Septembers in the green. In September 2022, the XRP price recorded a gain of 46.2%, its largest over the past 4 years. It also saw an increase of almost 8% in September 2023. The altcoin has so far recorded a gain of nearly 3% this month and looks on course to replicate its historical positive performance in September. Notably, there are bullish fundamentals that could spark a run for the XRP price. This includes the projected 25 basis points (bps) rate cut that the Fed is expected to make at the September 17 FOMC meeting. There is currently a 99.7% chance that the Fed will make this cut, according to CME FedWatch data. A Fed rate cut is bullish for altcoins, including XRP, as it could lead to increased risk-on sentiment among investors and cause more liquidity to flow into these assets. Meanwhile, the XRP ETFs are expected to receive the SEC’s nod in October, and given the market’s forward-looking nature, the XRP price could rally in anticipation of this occurrence next month. The ETFs are expected to attract new capital into the altcoin’s ecosystem. XRP Eyes Rally To $3.40 In an X post, crypto analyst Egrag Crypto predicted that the XRP price could rally to around $3.40. He noted that with the altcoin currently trading at around $2.877, all eyes are on how it will perform around this level. If XRP closes above $3.077, the analyst stated that it could increase the chance of breaching the $3.40 mark. Interestingly, the analyst suggested that the XRP price could rally by over 200% and reach $6.12 if it successfully breaches the $3.40 mark. His accompanying chart showed that XRP could claim this $6 range this month. Meanwhile, in another X post, Egrag Crypto said that the range of $3.077 to $3.13 is a key area, as a strong close above it with high volume could pave the way for the next move. At the time of writing, the XRP price is trading at around $2.85, up in the last 24 hours, according to data from CoinMarketCap.

Kodal Minerals (LON: KOD) has secured an export permit for spodumene concentrate from its Bougouni lithium mine in southern Mali, clearing a key hurdle for the project’s first shipments. The permit authorizes exports of up to 125,000 tonnes of concentrate, pending completion of final administrative steps. It was confirmed in a letter issued by the Ministry of Mines and signed by Mines Minister Professor Amadou Keita. “The granting of the export licence is a critical step for the development of the Bougouni project, as well as Mali’s burgeoning spodumene industry,” Kodal chief executive Bernard Aylward said. “The permit further underpins the continued support of the Mali Ministry of Mines and the government and their interest in the further development and expansion of Bougouni.” The document also confirms pricing will be based on the Shanghai Metal Market reference price for spodumene, though authorities retain the right to verify and adjust prices. Kodal has already agreed to sell all Bougouni output to China’s Hainan Mining, with pricing linked to the SMM benchmark. Logistics The company has also signed a transport deal with a leading Malian logistics operator to move concentrate from the mine to port facilities in Côte d’Ivoire. Kodal said it will pay all applicable taxes, duties and levies. Located 170 kilometres south of Bamako, Bougouni aims to produce 11,000 tonnes of spodumene concentrate per month. The mine is run by Les Mines de Lithium de Bougouni SA, a Mali-registered company in which Kodal holds a 49% stake. Bougouni is Mali’s second lithium operation, following Ganfeng Lithium’s Goulamina mine, which began producing in December 2024.

On September 3, Ondo Finance announced the launch of Ondo Global Markets. Could Ondo’s tokenized Wall Street model reshape global equity markets, and what does it mean for the future of stocks? Let’s dive in. The platform is designed to let non-U.S. investors access tokenized versions of over 100 U.S. stocks and ETFs anytime. The company also plans to expand this list to more than 1,000 by the end of the year. Marketed as the start of “Wall Street 2.0,” Ondo presents the rollout as a step forward in global finance, much like how stablecoins made money markets more accessible. With this system, users can buy, sell, transfer, mint, and redeem tokenized securities around the clock. Minting and redemptions, however, still need to align with market hours, and all activities remain bound by jurisdictional and legal rules. To protect investors, Ondo has established strong safeguards, including daily third-party checks of reserves, a bankruptcy-remote framework, and a security agent that holds first-priority security rights over the assets. A key part of the model is liquidity. Tokenized stocks from Ondo reflect the liquidity of the securities they represent, which means trades can happen with low slippage, without the need to build fresh market depth on-chain. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025 ONDO Price Analysis: Can the Token Hold Bullish Momentum After Wall Street 2.0? According to TradingView data, the ONDO price is trading at $0.93 and has declined slightly by -1% during the session. Despite this, ONDO is still holding gains after a sharp rally following the announcement. (Source – ONDO USDT, TradingView) The chart shows a strong reversal after a period of selling pressure that had pushed the token below $0.87 at the start of September. The buyers acted aggressively after the Global Markets news, and the token reached intraday highs of $0.9718. The tall green candles assure us of the high demand among the buyers, particularly during the past two days. This rebound volume soared up to 389.9K, significantly more than the late-August average. This is where a tidal wave of investors came in, with Ondo getting coverage around its Wall Street 2.0 narrative. It also indicates that traders could be pricing ONDO with the prospect of long-run on-chain equities in mind. Crypto Winkle wrote on X that this update could turn Ondo Finance into a leading force in the RWA market. Developers are also part of the plan, which includes Ondo providing APIs for integration into apps, exchanges, robo-advisors, and derivatives platforms. This allows easy access to tokenized U.S. stocks within different services. Ondo’s setup involves using a US-registered broker-dealer to purchase and hold real securities, such as AAPL shares. In return, the investor receives an on-chain token like AAPLon, which mirrors the full economic rights of the asset. These tokenized assets work as total return trackers. That means dividends are reinvested automatically into more tokens, minus any withholding taxes. As a result, the value of each token reflects the complete return of the underlying security. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 The post Inside ONDO Crypto Plan To Take Wall Street On-Chain: Are Stocks Finished? appeared first on 99Bitcoins.

Baseline: +74k NFP; unemployment rising to 4.3% from 4.2%.July: +73k with -258k net downward revisions; mounting political pressure on the BLS.Labour demand is cooling: Atlanta Fed Job-Switchers wage growth 4.3% y/y; NFIB shows vacancies easier to fill.Implications: tilts toward a 17 Sep Fed cut; risks from upside surprises and data-quality uncertainty. The August employment report is likely to confirm a cooling in labour demand and reinforce a dovish signal for the Federal Reserve. We expect nonfarm payrolls to rise by about 74k, with the unemployment rate increasing from 4.2% to 4.3%. US unemployment rate, source: Bloomberg. Lessons from July: data, revisions, and political pressure Last month unsettled markets not only because payroll growth in July was weak at 73k, but also because May and June were revised down by a combined 258k. In response, President Donald Trump accused the Bureau of Labor Statistics of manipulation and dismissed its head the same day. He has nominated the chief economist of a conservative think tank as successor, but the appointment still requires Senate confirmation. This raises concerns about politicisation of the statistical process and the credibility of subsequent releases. US employment change, Bloomberg data. Supply or demand: what is slowing hiring Tighter immigration policy may have constrained labour supply at the margin, but it could be a secondary factor. Evidence points more clearly to softer demand for workers. Household surveys indicate that finding a job has become more difficult. According to the Atlanta Fed, job switchers no longer enjoy higher wage gains than job stayers. The NFIB survey shows small firms are finding it easier to fill vacancies. These signals align with a deceleration in hiring. On the chart of the Atlanta Fed Wage Growth Tracker – Job Switchers (i.e., the median wage growth of people who changed jobs over the past year), wage dynamics are steadily slowing to 4.3% year on year in July 2025. This points to a fading job-switching premium and weakening demand for workers, which typically eases wage pressure in services and supports disinflation. The current level is close to conditions seen before the post-pandemic boom, thus arguing for a more accommodative Fed policy. Chart of the Atlanta Fed Wage Growth Tracker – Job Switchers, source: Bloomberg August forecast: 74k jobs and a higher unemployment rate Given the scale of recent revisions, the initial print should be read with caution. Market baseline is a 74k increase in payrolls, close to July’s 73k. Economists surveyed by Bloomberg expect the US unemployment rate to rise from 4.2% to 4.3%., reflecting weaker demand for labour. Implications for Fed policy Such an outcome would strengthen the case for a rate cut at the 17 September meeting. Moderating payrolls and a higher jobless rate would support a gradual shift toward easier policy, especially after the sizeable downward revisions weakened the recent labour market narrative. At the same time, uncertainty around the integrity of the statistical process argues for care in interpreting first releases. Market implications Softer labour data would typically pull down front-end yields and reinforce a gentler rate path, which often weighs on the US dollar against risk-sensitive currencies and supports assets that benefit from a lower rate. However, questions about data quality could keep near-term volatility elevated across rates, FX, and equities. Risks and watchpoints Upside surprises in payrolls, particularly if accompanied by firm wage growth, could temper dovish pricing. Another round of negative revisions would deepen the perception of cooling. The interaction between job growth, unemployment, and pay dynamics will determine both the strength and the speed of any policy easing. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin is entering a fragile stage after days of selling pressure and uncertainty pushed the price into consolidation around the $110,000 level. Bulls are working to defend this key area, but momentum has clearly faded. The market now finds itself in a holding pattern, with investors cautious about whether Bitcoin will stabilize or break lower in the sessions ahead. Despite the weakness, there are no clear signals yet of a deeper correction. Historically, retracements within ongoing bull markets often serve as resets rather than trend reversals, but the pressure on Bitcoin has nonetheless sparked debate about its short-term direction. Holding above current levels is becoming increasingly important, as failure to do so could shift sentiment further in favor of the bears. Top analyst Axel Adler described the current environment as a neutral-bearish base, meaning flows and price action lack the conviction needed for a decisive bullish push. Until stronger demand emerges, Bitcoin’s recovery is likely to be limited to technical bounces rather than sustained rallies. Bitcoin Stuck In Neutral-Bearish Base According to top analyst Axel Adler, Bitcoin’s current structure remains fragile as both price and derivative flows sit below 50, signaling weakness across critical indicators. Adler emphasizes that while short-term rebounds are possible, the market lacks the conviction required for a sustained uptrend. With taker flows still negative and weak, any recovery from present levels is likely to be a mean-reversion bounce toward $113K, aligning with the Fair Value and mid-30-day range, rather than the beginning of a new bullish phase. This environment suggests that risk appetite remains absent, leaving the market vulnerable to further tests of lower boundaries. Adler notes that unless flows shift meaningfully, price rallies will likely remain capped and quickly fade as selling pressure reemerges. The nearest bullish setup would require stabilization of flows that could push BTC toward the $113K–$115K region, a technical recovery zone that would ease immediate bearish sentiment but still fall short of confirming a regime shift. For a true change in market structure, Adler points to two key thresholds: Flow >55 and Price Index >50. Only when both conditions are met will Bitcoin have the foundation for a stronger, trend-confirming rally. Until then, the market faces an elevated risk of repeated retests of support zones, with traders closely monitoring whether BTC can hold above $110K or slip further into correction territory. BTC Holding the Line Above $110K Bitcoin continues to consolidate around the $110K–$111K zone, showing resilience after weeks of sharp selling pressure. The chart highlights how BTC has bounced from recent lows near $108K but still struggles to reclaim higher momentum. The 50-day moving average now acts as resistance, capping the upside attempts and reflecting waning bullish strength. Despite the pullback from the $123K all-time high, the structure remains intact above the 200-day moving average near $101K, which has consistently served as a long-term support. The current price action shows a market caught in balance: bulls are defending demand, but bears maintain pressure as rallies face rejection around the $112K level. The flat trajectory of the 100-day moving average reinforces the consolidation phase, suggesting that a decisive breakout is needed to confirm direction. If Bitcoin closes above $113K in the short term, it could set up a retest of $118K, the mid-range level that has acted as both support and resistance. Failure to hold the $110K level could expose BTC to repeated tests of $108K and, ultimately, the psychological $105K zone. For now, Bitcoin’s fate hinges on whether buyers can stabilize flows and absorb ongoing selling pressure. Featured image from Dall-E, chart from TradingView

Overview: The US dollar is firm against the G10 currencies today but is mostly trading inside yesterday's ranges. After yesterday's disappointing JOLTS report attention turns to the ADP estimate today, ahead of tomorrow's BLS report. The lack of follow-through selling after yesterday's losses may be encouraging some short-term momentum traders to move to the sidelines. The greenback is also mostly higher against emerging market currencies, though a few Asia Pacific currencies bucking the move, including a small gain for the Chinese yuan. The pullback in yields seen yesterday is continuing today. Steady demand at Japan's 30-year bond auction helped JGBs rally. European benchmark yields are off 3-5 bp with spreads over Germany narrowing slightly, including France. The 10-year US Treasury yield has slipped below 4.20%. Equities, following the gains in the S&P and Nasdaq yesterday, are mostly higher. The notable exception in China and Hong Kong, following reports that suggested Beijing officials are considering measure to cool the recent rally. Europe's Stoxx 600 is building on yesterday's 0.65% recovery after Tuesday's 1.5% slide. US index futures are trading with a firmer bias, as well. After surging to a record $3578.5 yesterday, profit-taking sent gold down a little through $3512 today before buyers re-emerged. October WTI is extending its pullback after briefly trading above $66 on Tuesday. It fell to almost $63.70 yesterday and nearly $63.00 today. USD: The disappointing July JOLTS report pushed what was an offered Dollar Index lower. It had peaked earlier slightly above Tuesday's high, slightly shy of 98.65 and returned to almost 98.00. It is consolidating today in a narrow range mostly between 98.10 and 98.35. Still, when everything is said and done, with one brief exception of Monday's low, the Dollar Index remains within the range set on August 22, when Fed chief Powell spoke at Jackson Hole (~97.55-98.85). There is a slew of US economic reports today. Given that the deterioration of the labor market is behind the elevated chances of a Fed rate cut later this month, the ADP private sector job estimate may be the most important. The median forecast in Bloomberg's survey stands at 68k, down from 104k in July. Given the US tariff offensive, the July trade balance will also draw attention. The advanced goods deficit widened by 22% to $103.6 bln. Imports jumped 7.1% and exports slipped by 0.1%. The overall trade deficit was $582.7 bln in H1 25, up from $421.2 bln in H1 24, though distorted by front-running the tariffs. The ISM services report is more important than the final services and composite PMI. The ISM services were slightly above 50 in July, while the services PMI was at 55.7 (before slipping to 55.4 in August, according to the preliminary estimate. Lastly, the accelerated confirmation hearings of Miran to the Federal Reserve will be held today before the Senate Banking Committee. Despite his earlier work, which includes sketching out how the executive could control the central bank, Miran's prepared remarks pledge to defend the independence of the Federal Reserve. What could go wrong? EURO: The euro held above $1.1600 yesterday and recovered to poke a little above $1.1680 in North America. With the exception of last Wednesday's low (~$1.1575), the euro has also been confined to the range set on August 22 (~$1.1585-$1.1745). It is in about a third of a cent range below $1.1670 so far today. The broad sideways movement has wreaked havoc with the daily momentum indicators. We note that the US two-year premium over Germany is a new low for the year, slightly below 165 bp. Last year's low was around 135 bp. It was above 200 bp as recently as late July. The eurozone reported a 0.5% decline in July retail sales, which was a bit larger than the 0.3% drag expected by the median forecast in Bloomberg's survey. Yet, it should not be surprising. Germany (-1.5%), France (-0.6%), and Spain (-0.4%) already had reported their figures. Italy reports its figures tomorrow. CNY: The dollar held below CNH7.15 on Tuesday and Wednesday. It traded inside Tuesday's range yesterday in a consolidative session and is trading within yesterday's range today. If the PBOC signaled through the setting of the dollar's reference rate that did not want the yuan to rise much more, then it may be challenged if the greenback continues to weaken. The PBOC set the dollar's reference rate higher for the third consecutive session yesterday, matching the longest run in five months. Given the dollar's heavier tone, especially in North America yesterday, the PBOC had little choice but to lower the dollar's reference rate today (CNY7.1052 vs CNY7.1108 yesterday). Two developments are noteworthy today. First, while the Federal Reserve protects it independence, China's Vice Finance Minister, and the Deputy Governor of the PBOC met today and committed to closer cooperation to support the economy. Many suspect that loose monetary policy can help support more public spending to strengthen growth. Second, Chinese financial regulators are considering measures to temper the stock market rally, which could include the removal of some short selling restrictions. The mere fact that it is being discussed weighted on Chinese equities today, sending the CSI 300 down 2.1%, the biggest loss in five months. JPY: The weak JOLTS report pushed US rates lower and dragged the dollar off its highs against the yen. The 30-year Treasury yield got as close to 5.0% without trading there before falling back below 4.90% to approach last week's settlement slightly below 4.88%. The 10-year yield Treasury yield dropped ten basis points to fray the 4.20% yield, the lower end of what has been the range since early May. The dollar has reached nearly JPY149.15 in late Asia/early Europe hours but never traded above JPY148.80 in North America before falling below JPY148. It made a marginal new low today near JPY147.80 but recovered to about JPY148.40 in early European turnover. Japan reports July labor cash earnings tomorrow. They are hovering around 3% year-over-year. Yet, when adjusted for inflation, they have mostly been falling, with a few exceptions, like the end and middle of last year. Yet consumer spending has been positive though weak, averaging a little more than 0.6% over the past three quarters at an annualized rate through Q2 25. July household spending will be reported at the same time. It is expected to have accelerated to 2.3% year-over-year from 1.3% in June. If so, it would be the third consecutive advance, the longest in three years. GBP: Neither vulnerability of the Deputy Prime Minister Rayner over unpaid taxes on a property purchase, the announcement of what seems to be an unusual late Autumn Budget Statement (November 26), or the looming fiscal challenge was sufficient to hold sterling back yesterday. Indeed, sterling rivalled the Australian dollar for the top performance yesterday among the G10 currencies. Follow-through selling from Tuesday initially took it to a new low since August 6 slightly below $1.3335. From there is recovered to almost $1.3460 new session highs, which held today. Initial resistance is seen in the $1.3470-85 area. The $1.3400-20 area offers support. The market did not respond much to the UK's new car registrations (a proxy for auto sales). They were off 2% after falling 5% year-over-year in July. The August construction PMI ticked up to 45.3 (from 44.3) but has not been above the 50 boom/bust level this year. CAD: In the better offered greenback, the Canadian dollar under-performed. It was the weakest of the G10 currencies, losing a miniscule 0.1%. Still, the greenback barely traded below Tuesday's settlement yesterday, while it held below Tuesday's high (~CAD1.3815) in lackluster activity. The US dollar is a little firmer today and threatens to extend its advancing streak for the fourth consecutive session. It is at the week's high in Europe and is probing the lower band of resistance seen in the CAD1.3825-50 area. Given the importance of the trade drag on Q2 GDP, today's July merchandise trade figures will be closely watched. Canada recorded a C$19 bln goods deficit in Q2, swelling from a little less than C$400 mln deficit in Q1. The median forecast in Bloomberg's survey is for a C$5.3 bln shortfall in July. In July 2024, the deficit was a little more than C$320 mln. AUD: The Australian dollar traded well below $0.6500 on Tuesday but held above it yesterday and rallied to almost $0.6555. Around half of the recovery occurred in the European morning and the other half when North Americans entered the fray. It is trading with a heavier bias today but still inside yesterday's range, which was inside Tuesday's range (~$0.6485-$0.6560). Australia reported its July trade balance earlier today. It defied expectations of narrowing and instead swelled to A$7.3 bln after surging to almost A$5.4 bln in June (from A$1.6 bln in May). Exports rose by 5.1% on the month, while imports fell 1.3%. Today's July figures showed household spending increased 0.5% in July, for a 5.1% year-over-year pace, the strongest in almost two years. Although Australian interest rates eased today, central bank governor Bullock noted after the stronger GDP figures earlier this week that the data was stronger than officials expected, and noted that if it continues, "there may not be many interest rate declines yet to come." MXN: Despite the greenback's struggle yesterday, the peso was unable to capitalize. The US dollar traded well within Tuesday's session in mostly featureless activity. Yesterday's low was recorded in response to the JOLTS report, a little below MXN18.66. The greenback's recovery ran out of steam in front of MXN18.73 but rose to almost MXN18.7650 today. Tuesday's range, roughly MXN18.6225-MXN18.8635 still dominates. Mexico reports June fixed investment and private consumption, July leading economic indicators, and August auto sales. While they may be useful data points for economists, they probably do not capture the imagination or attention of market participants. US jobs data and the broad direction of the dollar are more salient drivers of the exchange rate. Disclaimer

Bitcoin is clinging to $110,000 amid the boring crypto market, while Ethereum Layer-2 like Arbitrum is making news today. The total crypto market cap sits at $3.9 trillion, but the 24-hour volume is recorded at a huge $124 billion. People are now waiting for September, as August is historically bad for crypto. ARB ▼-0.86% updates is stealing the news headline today as an ex-Ripple engineer thinks that its dual-speed transactions can reshape crypto Layer-2 market dynamics. Layer-2 comes with cheaper fees and lightning fast transaction speed which pull more liquidity into it. ETH ▲0.85% also has its supply dropped as ETF inflows hit $3.87 billion just last month alone. BTC ▼-0.56% hashrate has smashed a record 1.279 zettahashes per second despite a 13% dip from August highs. Open interest stands high at $61.7 billion. Although short-term holders are selling off, institutional buys via ETFs maintain the floor. BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Crypto Market News Updates for Today: WLFI Dropping, Ena Pumping, ARB Altering Ethereum Layer-2 Arbitrum recently launched its $40 million DeFi incentive program, which impacts its liquidity and apps. Its total value locked has now exceeded $3.2 billion, edged out rivals like Polygon and Mantle. ARB Layer-2 share grows with integrations like Ronin for Web3 gaming. Fees drop to $0.0001 per swap on some chains. Ex-Ripple insights highlight how this alters Ethereum’s ecosystem, favoring efficiency over mainnet costs. (source – Defillama) On the other side, Trump,s Media coin, WLFI ▼-22.83%, alhough dumping 45% from its top, is still outperforming ENA ▼-2.44% in market cap at $5 billion versus $4.66 billion. Community proposals have pushed for WLFI buybacks, especially with rumours of insider dumping. ENA, even if its lower in market cap than WLFI, edges up 2% to above 70 cents, driven by $50 million weekly revenue from USDe stablecoin. Its delta-neutral hedging is drawing whales, which send it running 10% this week. (source – CoinGecko) Beside the above coins, today also saw news from Metaplanet who stacks another 1,009 Bitcoin from the market, and now holding 20,000 worth over $2 billion in crypto. August has seen hacks that drained $163 million across platforms, and Solana’s Alpenglow upgrade aims 150-millisecond finality, heating up Layer-1 competition. Bitcoin price has decoupled from stocks, up 0.2% while S&P dips -1.48%, and hashrate surge is showing miner confidence. WLFI is sparking debates, but with $1 billion in 24-hour volume post-listing, a perfect signal that crypto is still on. Now, can WLFI blast above its all-time high after hitting an all-time low a few hours ago? Follow us here for today crypto market news updates. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates 3 hours ago September Trap on Avax and XLM: Avalanche and Stellar Underpeforming, What Crypto to Buy Instead By Akiyama Felix As September 2025 begins, the crypto market is showing early signs of a rebound after a super volatile August. BTC ▼-0.56% is holding strong around $110,000 right now, with hash rates reaching all-time highs. ETH ▲0.85% is also gaining momentum, as last month saw it edging closer to $5,000. But despite this momentum, crypto altcoins like XLM and AVAX continue to underperform. AvalanchePriceMarket CapAVAX$10.38B24h7d30d1yAll time This month has historically been tricky for the crypto market. Known as the “September trap,” it often brings 4% average losses for Bitcoin and steeper 30–50% drops for altcoins every year. Liquidity tends to dry up after the summer, and while institutional capital is starting to return, it’s moving slowly. However, interestingly, memecoins are bucking the trend. FARTCOIN, for example, has gained over 3,100% year-over-year, driven almost entirely by community hype. StellarPriceMarket CapXLM$11.46B24h7d30d1yAll time Read the full story here. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 5 hours ago Will There Be Ethereum Supply Shock in September: Corporations Drain ETH Exchange Reserves By Akiyama Felix Ethereum is entering September under extreme supply pressure, with institutional buying and ETF demand slashing exchange reserves to historic lows. If demand stays steady, ETH could see a violent upside move this month. Corporate treasuries, staking platforms, and ETFs are locking up billions in ETH, creating artificial scarcity. With reserves near multi-year lows, even modest buying could trigger a full-blown supply crunch. EthereumPriceMarket CapETH$530.26B24h7d30d1yAll time Read the full story here. DISCOVER: Best Meme Coin ICOs to Invest in 2025 The post [LIVE] Latest Crypto Market News Today, September 4 – Arbitrum to Alter Ethereum Layer-2, Bitcoin Price Hovers at $110,000, and WLFI Still Above ENA appeared first on 99Bitcoins.

BTC USD and the wider markets are bracing for a busy Thursday of economic releases. August ADP Nonfarm Employment, Initial Jobless Claims, the ISM Services PMI, and the S&P Global Services PMI are all due. These reports will shape expectations for whether the Federal Reserve moves forward with a September rate cut. The anticipation follows weaker labor market signals and a stunted crypto market and BTC ▼-0.37%. The JOLTS report showed job openings fell to 7.18M in July, missing forecasts of 7.38M and marking the lowest reading since 2021. “The jobs number showed that we are seeing more of a slowdown in the labour market in the US,” said Shaun Osborne, chief currency strategist at Scotiabank. “For the first time since 2021, there are more unemployed people in the US than available jobs and that is a big change in the outlook.” DISCOVER: 20+ Next Crypto to Explode in 2025 Will BTC USD Hit New ATHs or Crash Below $100k? Bond Yields React to Labor Market Slowdown BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time So if you’re following at home, here’s what’s coming out from the US today: August ADP Nonfarm Employment Change (Jobs indicator) Initial Jobless Claims (Weekly snapshot of layoffs) ISM Non-Manufacturing (Services) PMI (Released Wednesday… it wasn’t good) JOLTS (Job Openings and Labor Turnover Survey), and it was already flagged as sluggish This weak US economic data helped reverse a global bond sell-off and left crypto stagnant. The yield on 30-year Treasuries slipped 6 basis points to 4.90%, while UK gilts fell from 5.75% to 5.60% after hitting post-1998 highs. Andy Brenner, head of international fixed income at NatAlliance, said rising layoffs and weaker job openings “got my attention, and the market’s attention.” (Source: Reuters) This rebound comes as global debt issuance ramps back up, with the UK issuing a record $14B in 10-year gilts. Analysts warn that the fresh supply and sticky inflation could reintroduce volatility. On the DeFi side, stablecoin market cap rose 42% year-on-year, showing investors still want to hedge against rate-driven volatility. Solana and Ethereum TVL each gained +20% over the past quarter, while smaller chains lagged. This underscores how liquidity prefers blue-chip cryptos and scales in uncertain conditions. DISCOVER: Top 20 Crypto to Buy in 2025 Trump’s Tariffs Add Another Variable for the Fed Another US data point to pay attention to is the payrolls report, which will test how the economy absorbs Trump’s global tariffs. Analysts say tariffs have already contributed to a slowdown in manufacturing. Additionally, President Trump is moving to oust Fed Governor Lisa Cook further placing US economic control in his hands. Roger Hallam of Vanguard summed up the tension: “It’s almost a perfect storm of concerns over current fiscal policies becoming inflationary, potentially more global issuance, and not enough demand.” EXPLORE: Trump Crypto Moves Made $5Bn in 2025: How To Get Rich in Crypto Trump-Style? Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways US jobs data, bond yields, and Trump’s tariffs are shaping expectations for a September Fed rate cut. Here’s what CoinGlass and DeFiLlama data reveal about markets. This weak US economic data helped reverse a global sell-off in bonds and left crypto stagnant. The post US Jobs Data and BTC USD and Bond Market Rally Put Fed Rate Cuts in Focus appeared first on 99Bitcoins.

Is Trump getting rid of the income tax? President Donald Trump says tariffs could eliminate income taxes for most Americans. Economists disagree, but Trump is adamant that his tariff policy could wipe out income taxes for most households. “When tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated,” Trump said Wednesday. Trump says his policy would focus on Americans and investors making less than $200,000. Census Bureau data shows only 14.4% of U.S. households earned above $200,000 in 2023. If Trump’s proposal were true, most Americans would no longer pay federal income taxes. Is Trump Getting Rid of the Income Tax? Why Economists Say Tariffs Can’t Replace Income Taxes While getting rid of the income tax sounds nice, the numbers don’t align. According to Tax Foundation economists Erica York and Huaqun Li: “The individual income tax raises more than 27 times as much revenue as tariffs currently do,” said Li. “Even eliminating income taxes for a subset of taxpayers would require significantly higher replacement revenues than tariffs could generate.” (Source: Tax Foundation) As for crypto investors, many of us can avoid income tax by moving to areas with low taxes, but there are still capital gains to worry about. You’re going to pay the tax man one way or the other. Meanwhile, Trump’s scheduled tariffs in 2025 are estimated to raise $167Bn in revenue, covering less than 25% of the cost of eliminating income taxes for households earning below $200,000. Recent data from the IRS also shows the federal income tax brought in $2.2Tn in 2023, while all tariffs combined generated under $100Bn. The gap underscores why experts doubt tariffs can fully replace the system. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025 Project 2025 and the Push Toward a Consumption Tax Trump’s income tax elimination comes from the Republican-backed Project 2025 proposal. One of the plan’s sponsors, and recently ousted IRS Chief Billy Long, previously sponsored legislation to abolish the IRS and implement a national sales tax. The White House also plans to cut IRS staff by 18%, reducing compliance oversight and enforcement. (Source:Tax Law Center) While Trump’s plan faces skepticism, investors have legal strategies to reduce taxes. Scott Galloway of NYU, and other top crypto investors, suggest borrowing against stock portfolios instead of selling: “You own $100 in Amazon stock… instead of selling, borrow against it and let the stock continue to grow.” This strategy avoids triggering capital gains, while investments continue compounding. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 What Trump’s Tax Plan Could Mean for Markets Talk of tariffs replacing income taxes would radically shift how Washington funds itself. Federal revenue could shrink or deficits balloon, and in that scenario, crypto is likely to draw fresh attention as a hedge against policy chaos. EXPLORE: Gemini IPO Targets $317M as Trump Media Bets $1B on Crypto.com Treasury Strategy Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Is Trump getting rid of the income tax? Trump says tariffs could eliminate income taxes for most Americans. Economists disagree. Talk of tariffs replacing income taxes would mark a drastic shift in how Washington funds itself. The post Is Trump Getting Rid of the Income Tax? New Tariff Plan Could Replace Taxes — But Does the Math Work? appeared first on 99Bitcoins.

Matthew Mežinskis, the analyst behind Porkopolis Economics and co-host of the “crypto_voices” podcast, told Marty Bent on TFTC that Bitcoin’s late-cycle upside remains larger than most models imply, arguing that price action continues to track a long-standing “power trend” that has governed every prior boom. Anchoring his view in percentile “bands” around that trend, he contends the market can still deliver a two-to-three-times move into year-end, placing a $250,000 to $375,000 range in play. Bitcoin 4-Year Cycle Still In Play? Mežinskis frames the thesis in stark, testable terms. “Bitcoin has traditionally during the booms very easily gotten above the 80th percentile each time,” he said, noting that the strongest phases in earlier cycles climbed “very easily” above the 90th as well. He defines the 80th percentile as roughly 1.3× the trend and the 90th as 2×. On his model, the end-2025 trend value sits near $125,000, which fixes the 80th-percentile validation line at about $170,000 and the 90th at $250,000. “If we don’t get above 170k by year end or into like the first couple months of next year then I would…rethink the idea of the four-year cycles,” he said, before stressing that “it hasn’t been invalidated yet.” The centerpiece of his outlook is a simple rule-of-thumb extrapolation from those bands. “The 90th is 2x…so 2x is $250k,” he explained. He then extends the historical envelope to the mid-90s percentiles to size a more aggressive—but still precedent-based—target. “In 2021…it was a 96th percentile…the 2.8x—round it here—3x,” he said. “Totally base case, totally possible…would be 2 to 3x the trend…$250k to $375k Bitcoin.” Even as he embraces that range, he tempered expectations for a blow-off beyond it. “I would be very surprised if Bitcoin went above $350 or $375k by the end of the year, but I think it’s possible.” His framework is deliberately non-technical in the chartist sense. “We’re just looking at the power trend and where the price typically is over or under trend every four years,” he said. The model—represented by a “black line” he’s tracked since 2016—has, in his telling, proved more durable than the once-fashionable stock-to-flow approach: “It’s like the best trend line in all of finance…certainly better than the old stock-to-flow ratio.” The percentile overlays are frequency-based markers: the 90th denotes a level above which only 10 percent of observations sit, the 99th above only 1 percent. Historically, he observed, the most explosive cycles—2013 and 2017—briefly reached the 99th percentile, roughly 4.6× trend, a zone 2021 never touched. That “softer top” dynamic is consistent, he argues, with maturation: “As Bitcoin gets more adopted, these peaks do come down.” Pushing beyond the base case, Mežinskis addressed the outlier narratives circulating on social media. He acknowledged hearing projections in the “$444,000 in November” neighborhood and mapped them to his high-percentile bands: “400,000 is the 97th…[between] the 97th and 98th percentile, it’s pretty rare.” Those levels, at about 3½× trend, are—by definition—levels the market spends very little time above. None of this, he emphasized, is a timer. The framework “doesn’t tell you the time…we’re just assuming the four-year cycle.” If the cycle extends or compresses, the model won’t predict that path; it only sketches the altitude the market has historically achieved once a boom is underway. “If the market gets heated…if grandma’s getting excited this Thanksgiving…and giving her grandchildren money to buy Bitcoin, then perhaps it could happen again,” he quipped, before reiterating: “Absolutely possible that we have lower highs and even possible that we get out of the four-year cycle, but I’m still not seeing it based on the price action.” Mežinskis also flagged the hazards that often follow euphoria, warning that narrative shifts at elevated plateaus can coincide with leverage-driven fragility. Should Bitcoin treasury companies lever short-dated convertible debt to chase higher prices, a downturn could expose maturity and liquidity mismatches. “You could see absolutely a cascading [of] liquidations of these Bitcoin treasury companies,” he said, adding that reflexive waves can “go as high as the White House” in terms of policy attention if the cycle crescendos at scale. He was careful not to present that as a base case—“I’m not saying that it will”—so much as a reminder that what climbs on leverage can unwind through the same channel. The test he sets for the market over the next few months is crisp. A move above the 80th-percentile line—about $170,000 given his end-2025 trend—would keep the four-year template intact; a run into the 90th-percentile band would align with prior booms and mechanically prints a ~$250,000 spot price; an excursion toward the mid-90s percentiles would extend the tape to roughly $375,000, a level he calls the “max” he would expect this cycle—even if, as history shows, brief overshoots cannot be ruled out. For now, the structure that’s guided Bitcoin since 2016 “hasn’t been invalidated yet,” and until it is, Mežinskis’ message is unambiguously bullish: the bands are there, the tape has visited them before, and the upper ones still sit far above spot. At press time, BTC traded at $110,397.

Asia Market Wrap - Nikkei Gains 1.5% Most Read: GBP/USD Forecast: Cable Recovers but the Outlook Remains Murky. WIll NFP Data Serve as a Catalyst? Stock markets in Asia struggled to move higher on Thursday because a big selloff of Chinese stocks got worse, making investors nervous. This overshadowed the optimism from the previous day, when weak U.S. job data had made people hopeful that the American central bank might lower interest rates. In some good news, Japan successfully sold its 30-year government bonds, which was a big relief for investors. They had been worried that no one would want to buy Japanese debt because of a recent global trend of selling bonds, political problems in Japan, and concerns about the country's finances. Japan's Nikkei bounced back on Thursday after falling to its lowest point in almost a month on Wednesday. The recovery was led by Japanese technology companies, whose stock prices rose after similar tech companies in the U.S. performed well overnight.By the end of the day, the Nikkei index was up 1.5%. The biggest winner was the tech-investing company SoftBank Group, with its stock jumping 6.5%. Other top performers included the cable-maker Fujikura and the chip-equipment maker Advantest. The broader market index called the Topix also finished the day 1% higher. Swiss Headline Inflation Steady, MoM Inflation Drops Into Negative Territory In August, prices in Switzerland were 0.2% higher than they were at the same time last year, an inflation rate that was the same as July's and matched what experts predicted. The main reason for the increase was a big jump in the cost of clothing and shoes, along with small price rises for housing, energy, education, and restaurant meals. However, this was balanced out because prices continued to fall for things like food, transportation, household items, and health services. A key measure called "core inflation," which ignores the changing prices of food and energy, actually slowed down slightly. Interestingly, when just comparing August to the month before, prices overall actually dropped by a tiny 0.1%, which was an unexpected decrease. For more on the performance of the Swiss Franc, read USD/CHF Technical: Potential Swiss franc bullish range breakout as NFP looms European Open - European Stocks Unchanged European stock markets were mostly unchanged as investors felt cautious due to ongoing worries in the bond market. The travel and tourism sector was the hardest hit, with its value dropping significantly. This was mainly because the British airline Jet2 warned that its profits for the year would be lower than it had previously hoped. As a result, Jet2's stock price dropped by a quarter of its value, and other travel companies like TUI and Easyjet also saw their shares fall 4% each. In other news, luxury carmaker Porsche's stock also slipped nearly 1% after the company was moved from Germany's main stock index to a secondary one, following recent losses caused by U.S. import taxes and weaker sales in China. On the FX front, the euro held onto the gains it made overnight trading at 1.1652, while the U.S. dollar was stable when measured against other major world currencies. The DXY was last trading at 98.27. In contrast, the British pound continued to struggle after a tough week, dropping slightly and staying near the four-week low it hit on Wednesday. The Japanese yen saw very little movement and was trading at 148.16 per dollar. Elsewhere, the Australian dollar lost a small amount of value, and the New Zealand dollar was trading at about $0.5869. Currency Power Balance Source: OANDA Labs Oil prices continued to fall, adding to the big drop they experienced the day before. This decline is happening as investors look ahead to a meeting this weekend of the major oil-producing countries, known as OPEC+. At the meeting on Sunday, the group is expected to discuss increasing their oil production again for the month of October. Sources say the producers want to pump more oil to win back their share of the global market. Currently, the price for Brent crude, the global standard, is around $67.17 a barrel, while the main U.S. oil price is about $63.53 a barrel. Gold prices fell slightly as investors decided to sell and lock in their profits. This comes just one day after gold hit a new all-time record high price of $3,578.50 on Wednesday. That record was driven by a growing belief that the U.S. central bank, the Federal Reserve, will soon cut interest rates. Now, investors are waiting for an important U.S. jobs report, which will be released on Friday, for more clues about the economy. The current price for gold for immediate delivery is around $3,538.56 per ounce, while the price for gold to be delivered in December is about $3,596.20. For more on the factors influencing the gold rally, read Gold (XAU/USD) Extends Weekly Gain to 3.5%. More Gains In Store for Gold? NFP Up Next Economic Data Releases and Final Thoughts Looking at the economic calendar, the European session will see attention shift to debt auctions in France and the United Kingdom, which have been at the center of Europe's bond selloff. In the US session, markets will be focused on US ADP employment change data as well as S&P PMI data. Also keep an eye out on news regarding the US-Japan trade deals as news filtered through a short-while ago that Japan and the US are in the final stages of talks to implement lower tariffs on Japanese auto imports. The reports also stated Japan and the US are to issue a joint statement on July trade accord, also MOU on rules for Japan's investment package For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - DAX Index From a technical standpoint, the DAX Index has dropped below the 100-day MA but appears to have found support at the August 4 swing low at 23471. Yesterday saw a mixed day for the DAX as the index fluctuated between gains and losses, finishing the day down marginally by 0.04%. Immediate resistance is now provided by the 100-day MA with a break above leading to a potential retest of the 24000 handle. There remains potential for further downside and a test of the lower band of the channel pattern which is in play. There is also support at the 23212 level which could come into a play in such a scenario. DAX Daily Chart, September 4. 2025 Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

The crypto market opened Thursday with a cautiously positive tone as spot Bitcoin ETFs recorded $301 million in net inflows on September 3, signaling continued institutional interest despite recent volatility. Only Ark Invest and 21Shares’ ARKB posted outflows, while spot Ethereum ETFs faced a $38.24 million net outflow, marking their third straight day of redemptions. Traders are now watching whether this momentum will influence the next crypto to explode or we will witness a further correction from here. BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time BTC ▼-0.37% dominance remains at 57.75%, near its late-June highs, as altcoins trade mixed. Niche sectors like DePIN and prediction markets recorded isolated gains, while major Layer 1s such as ETH ▲1.20% lagged, sliding -4.3% weekly versus Bitcoin’s -1.9%. Key U.S. economic data, including ADP employment (expected: 75,000) and initial jobless claims (expected: 230,000), will be released today at 8:30 a.m. ET. A weaker-than-expected employment figure paired with higher claims could boost market sentiment by raising expectations of a softer Federal Reserve stance. EXPLORE: 20+ Next Crypto to Explode in 2025 Next Crypto to Explode? Altcoin Sectors Gain Focus Amid Bitcoin ETF Flows and September Rate Cut Hopes While Bitcoin continues to attract institutional flows, traders are eyeing sectors that could deliver the next crypto to explode. Total crypto derivatives open interest fell 2.3% to $963.8 million, with ETH/BTC funding rates turning slightly negative, indicating cautious positioning ahead of today’s data release. U.S. labor-market signals continued to soften. Job openings fell in July, quits and hiring stayed low, and layoffs remain subdued — a profile consistent with a cooling but not collapsing market. The Fed’s Beige Book described “little or no change in economic activity,” similar conditions for employment, and “moderate or modest” price growth. Taken together, these data bolster expectations for a September rate cut. Emerging narratives in infrastructure and AI-driven altcoins are drawing attention as potential breakout candidates, especially if U.S. macro data triggers a short-term risk-on move. A sustained rise in Bitcoin dominance above 58% could slow altcoin rotations, but a softer jobs report may reignite flows into high-beta names. Stay tuned to our real-time updates below. 2 hours ago Ukraine Moves Toward Crypto Taxation With New Bill By Fatima Ukraine’s parliament, the Verkhovna Rada, has passed the first reading of a bill to legalize and tax crypto, according to lawmaker Yaroslav Zhelezniak. The draft, supported by 246 lawmakers, proposes an 18% income tax and a 5% military tax on crypto profits, with a preferential 5% rate on fiat conversions during its first year. If enacted, the legislation would align with recommendations from Ukraine’s financial regulator and could reshape one of the world’s most active crypto markets. The country currently ranks eighth globally in Chainalysis’s 2025 Global Crypto Adoption Index, with strong participation in both retail and institutional activity. Further revisions are expected before the second reading, including decisions on the regulator’s role. The bill reflects Ukraine’s broader push to formalize its digital asset sector as governments worldwide, including Denmark, Brazil, and the United States, advance their own crypto tax frameworks. The post [LIVE] Crypto News Today, September 4 – BTC ETFs Positive Flow as Markets Await U.S. Economic Data: Next Crypto To Explode? appeared first on 99Bitcoins.

Over the last few weeks, both Bitcoin and Ethereum have seen an interesting wave of price action with high volatility. Naturally, this volatility has spurred a wave of trading as crypto traders see this as a time of opportunity due to the fluctuations. The result of this has been a rapid rise in the open interest of both Bitcoin and Ethereum during this time. While this, on its own, is significant, looking at the previous performances, it could suggest where the Bitcoin and Ethereum prices are headed next. Bitcoin And Ethereum Open Interest Remain Very High Toward the end of the month of August, the Ethereum price began rising rapidly, fueled by large buys from Ethereum treasury companies such as Bitmine and SharpLink. This push would eventually see the Ethereum price reach a brand new all-time high, beating out its $4,800 peak from 2021 after climbing above $4,950. In the same vein, the open interest had risen rapidly, and this metric, too, rose to new all-time highs. By August 23, amid the frenzy, the Ethereum open interest climbed above $70 billion for the first time in history, marking a major milestone. Since then, the Ethereum open interest has retraced. But it is still sitting above $55 billion at the time of this writing, suggesting that interest in the altcoin is still high. While the Bitcoin open interest did not hit new peaks in the month of August like Ethereum, it also remained at very high levels. Data from Coinglass shows that the Bitcoin open interest is still averaging at a high $80 billion, still close to the $86 billion all-time high that was recorded back in July. What The Open Interest At ATHs Could Mean Looking at previous performances when the Bitcoin and Ethereum open interest have been at all-time high levels, there is usually a period of consolidation that follows, especially as price retraces. This was seen after the first all-time highs of the year back in February, which was followed by a few months of consolidation. Then again, the peaks in June were followed by short consolidations, which ended in July. And then, another consolidation before the open interest started to rebound in August. This shows that the period of consolidation is not always long, but at the end of it is always another rise in open interest that coincides with a rise in price. From here, if the Bitcoin and Ethereum open interest were to hit new peaks, it would probably mean that their prices are ready to hit new highs as well. Following the trend of the last few months, the open interest could start to pick up again toward the end of September, propelled forward by price recoveries.

Is the EU secretly setting the stage to push USD stablecoins like USDT and USDC out of Europe? Christine Lagarde’s latest remarks hint at a game-changing crypto move. Could tougher rules mean delistings for non-compliant stablecoins? Traders are left guessing as MiCA enforcement heats up and the ECB steps in to “close loopholes” before they spiral out of control. With the U.S. passing the GENIUS Act and boosting its own stablecoins, is Europe defending its markets or falling behind in the global crypto stablecoin race? BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time DISCOVER: Best Meme Coin ICOs to Invest in 2025 How MiCA Rules Could Redefine USD Stablecoins in the EU The message that the EU sends is more of “build,” not “ban”. Instead of shutting down USD stablecoins like USDT or USDC, regulators want a clear and strict framework in the EU that makes them safer and more reliable for users. Lagarde’s call for “equivalence” seeks to integrate foreign stablecoins into the European market under MiCA rules. With EU-based reserves and higher transparency, stablecoins could gain legitimacy while protecting investors from liquidity crises and sudden redemptions. As other nations like China and the U.S advance their own stablecoin and CBDC strategies, these steps could fuel global competition. For crypto builders and traders, this emerging landscape opens the door to new opportunities in DeFi, tokenized assets, and cross-border payments. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The EU is not banning USD stablecoin but is introducing clearer rules to regulate them. Creation of digital euro aims to strengthen Europe’s position in the global stablecoin race. The post Is The EU Priming to Ban USD Stablecoins? appeared first on 99Bitcoins.

The USD/CHF’s sideways range environment since its 1 August 2025 swing high of 0.8170 has been getting compressed as we approach the key risk event for the FX market this week, the US non-farm payrolls and unemployment rate for August out this Friday, 5 September. SNB rate cut cycle likely over as Swiss leading economic data improves in August Fig. 1: Switzerland Manufacturing PMI as of Aug 2025 (Source: Trading Economics) Fig. 2: Switzerland Services PMI as of Aug 2025 (Source: Trading Economics) The Swiss National Bank (SNB) was the first major central bank to initiate an easing cycle in March 2024, delivering six consecutive cuts totalling 175 basis points. This brought the policy rate down from a 10-year high of 1.75% to 0% by June 2025, marking the first return to zero borrowing costs since the negative-rate era that ended in late 2022. The next SNB monetary policy meeting will be held on 29 September, and there is a likelihood that the SNB may pause its interest rate cut cycle as two leading economic data points have started to show subtle signs of demand improvement in Switzerland. The Swiss manufacturing PMI rose slightly to 49.0 in August from 48.8 in July, while manufacturing activities remain in contraction mode (below 50), but its negative growth momentum has continued to subside from the May 2025 print of 42.1. In addition, service activities in Switzerland showed minor improvements as the services PMI increased to 43.9 in August from a five-year low of 41.80 printed in July. Let’s now examine the medium-term outlook (1-3 weeks) on the USD/CHF from a technical analysis perspective. Fig. 3: USD/CHF medium-term trend as of 4 Sep 2025 (Source: TradingView) Preferred trend bias (1-3 weeks) Potential bearish breakdown from the ongoing five-week range below 0.8100 key medium-term pivotal resistance, with downside trigger level at 0.7990 to expose the next supports at 0.7920/0.7870 and 0.7795 (see Fig. 3). Key elements The recent bounces seen in the USD/CHF since 1 August 2025 have failed to surpass the upper boundary of the medium-term descending channel from the 3 February 2025 high, which suggests the lack of bullish momentum.The 4-hour Bollinger Bandwidth indicator has continued to hover at a relatively low level of 1, which highlights a volatility compression condition, a prelude to a volatility expansion that may trigger a potential imminent outburst in the price actions of USD/CHF.The yield spread (premium) between the 2-year US Treasury note and the 2-year Swiss government bond has continued to shrink to 3.70% since its bearish breakdown on 1 August 2025, where it was at 4.07% on 31 July 2025.Recently, on 22 August 2025, the 2-year yield spread of the US Treasury note and the Swiss government bond flashed out a similar bearish breakdown and traded below its 50-day moving average.These observations suggest that 2-year US Treasury notes are getting less attractive over similar tenures of Swiss government bonds in terms of yields, which in turn can put downside pressure on the USD/CHF.Alternative trend bias (1 to 3 weeks) A clearance above 0.8100 key resistance invalidates the bearish tone on the USD/CHF for a squeeze up towards the next medium-term resistances at 0.8170 and 0.8250. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Following the controversial accusations, the results of the third-party forensic review of the Cardano (ADA) voucher redemption program have been made public. Cardano’s founder, Charles Hoskinson, says he’s now “waiting for the apologies to come rolling in.” Cardano Accusations Have ‘No Basis’ On Wednesday, the Cardano community celebrated after the third-party forensic review of the ADA voucher redemption program was published. The investigative report, conducted by law firm McDermott Will & Schulte and the audit firm BDO, determined that the allegations against Input Output Global (IOG) don’t have any foundation. “After review of tens of thousands of documents, a forensic on-chain and traditional forensic analysis, and eighteen formal interviews of current employees, former employees, Voucher Holders, service providers, community members, and other third parties, the Investigation determined that each of the allegations related to the Topics of Investigation do not have any basis,” the report reads. Public accusations included five main allegations, including that insiders stole or misused ADA that should have been allocated to voucher holders and that there were improper sale tactics related to the voucher program. The claims also accused Cardano blockchain upgrades of being designed to make voucher redemption difficult, and deleted voucher holders’ “private keys” or assets. Lastly, the allegation that Cardano insiders had no legal right to send unredeemed ADA to CDH and decide how to spend it. The controversy emerged in May, when Non-Fungible Token (NFT) artist Masato Alexander alleged that Charles Hoskinson had “unilaterally used his genesis keys to REWRITE the Cardano ledger” during the Allegra hard fork in 2021 to take control of 318-350 million ADA, about 0.2 percent of the Initial Coin Offering (ICO) allocation that remained unclaimed years after launch. Hoskinson denied Alexander’s claims, arguing that 99.8% of the vouchers sold were redeemed by their original buyers, while the remaining 0.2% were “returned to the TGE and donated to Intersect through the same process that funded the Cardano Foundation.” The Review Findings Based on the Investigation, McDermott Will & Schulte and BDO found that the sources of the public allegations against IOG and Charles Hoskinson didn’t originate from unredeemed voucher holders, and they “did not identify evidence indicating that Input Output or Sawyers turned away any potential Voucher Holder who possessed a valid Voucher.” Additionally, they concluded that reasonable guardrails were implemented to prevent deceptive marketing and sales tactics, noting that the program was not designed to exploit the elderly. The audit also revealed that 97.3% of all the vouchers, or 98.8% of the ADA allocated, were redeemed on-chain during the Byron era, and “substantial efforts were undertaken to cause Voucher Holders to redeem on-chain” at the time. As of August 15, 2025, 99.2% of Vouchers consisting of 99.7% of all ada sold pursuant to the Voucher Program have been redeemed through the on-chain redemptions and Post-Sweep Redemption Project. Meanwhile, the review highlighted that the voucher certificates contained redemption codes instead of “private keys,” refuting the accusation that these keys were later deleted. It also concluded that Cardano insiders did not misappropriate the staking rewards from the unredeemed ADA. Time To Move On, Says Hoskinson Hoskinson went on X Space to share the audit result, reading the announcement of IOG’s Chief Legal Officer & Chief Policy Officer, Joel Telpner, and the executive summary of the 128-page document. Cardano’s founder said that it’s been a “deeply frustrating” process, noting that “It’s one thing to attack my intelligence, my physical appearance, my business acumen, my integrity. It’s another thing to accuse me of a crime.” “This is over. And for the people who stirred this pot: do the right thing, and just apologize. Have some common fucking decency as a human being. Apologize. Let’s just all move on, say you were wrong. Have enough integrity to do that,” he asked. Hoskinson shared his hope that most people will realize that the accusations were taken “too far,” concluding that “Hopefully, we can now just put this nightmare behind us.”

Solana started a fresh increase from the $194 zone. SOL price is now recovering higher and faces a heavy resistance near $212. SOL price started a recovery wave after it tested the $194 zone against the US Dollar. The price is now trading above $200 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $207 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $212 resistance zone. Solana Price Faces Resistance Solana price started a decent increase from the $194-$195 zone, like Bitcoin and Ethereum. SOL was able to climb above the $200 and $202 resistance levels. There was a clear move above the 50% Fib retracement level of the downward move from the $218 swing high to the $194 low. However, the bears seem to be active near the $212 resistance zone. The price reacted to the downside below $210. There was a break below a connecting bullish trend line with support at $207 on the hourly chart of the SOL/USD pair. Solana is now trading above $204 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $2102 level. The next major resistance is near the $212 level or the 76.4% Fib retracement level of the downward move from the $218 swing high to the $194 low. The main resistance could be $218. A successful close above the $218 resistance zone could set the pace for another steady increase. The next key resistance is $232. Any more gains might send the price toward the $245 level. Another Decline In SOL? If SOL fails to rise above the $212 resistance, it could continue to move down. Initial support on the downside is near the $204 zone. The first major support is near the $200 level. A break below the $200 level might send the price toward the $195 support zone. If there is a close below the $195 support, the price could decline toward the $184 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $200 and $195. Major Resistance Levels – $212 and $218.

On-chain data shows the size of the average Bitcoin whale has dropped to the lowest level since 2018, a sign that may be bearish for BTC’s price. Average Bitcoin Whale Is Holding Just 488 BTC Now In a new post on X, on-chain analytics firm Glassnode has discussed about the latest trend in the average supply held by Bitcoin whales. Glassnode defines “whales” as entities holding between 100 and 10,000 BTC. At the current exchange rate, the range’s lower bound converts to $11.2 million and upper one to $1.1 billion. Thus, the only investors who would qualify for the cohort would be the big-money traders. These holders can carry some degree of influence in the market, so their behavior can be worth keeping an eye on. The behavior of the cohort as usually gauged from their total holdings, however, can provide a skewed picture about the sentiment among them, as the investors toward the larger end of the range have more of a weightage in it. One way to pinpoint the behavior of the average whale is by looking at the size of the holdings of the average member of the group. Below is the chart shared by Glassnode that shows the trend in this metric for Bitcoin over the last few years. As is visible in the graph, the average Bitcoin supply per whale peaked back in early 2022, but switched to a decline as the bear market took over the sector. This suggests the whales reduced their exposure to the cryptocurrency during this period. With 2023 starting a recovery run for BTC, the average whale started loading up again, albeit at a slower pace than in the previous cycle. This accumulation continued until mid-2024, at which point it once more witnessed a reversal. Interestingly, instead of backing the rallies that have occurred between then and now, the whales have only accelerated their selling alongside them. The late 2024 run, especially, saw these humongous investors shed their holdings at a rapid pace. Today, the amount of Bitcoin supply held by the average whale sits at just 488 tokens, which is the lowest that it has been since December 2018, almost seven years ago. In another X post, the analytics firm has also talked about how Ethereum whales have been doing recently. In particular, Glassnode has shared the trend in the holdings of the “mega whales,” holders carrying more than 10,000 ETH ($44.6 million). As displayed in the above chart, the Ethereum mega whales participated in buying during the recent price surge, but their accumulation has now stopped with the 30-day change in their balance dropping to zero. BTC Price At the time of writing, Bitcoin is trading around $111,900, up more than 1% over the past day.

The Federal Reserve has announced a new event happening on October 21 that will take a deep look at how payments are changing. Called the Payments Innovation Conference, the event will bring together policymakers, finance executives, and developers working on new ways to move money. It gives the Fed a chance to directly engage with the tools that are starting to shape modern finance. Stablecoins Take a Central Role A major focus will be on stablecoins and how they might fit into the broader financial system. These are digital tokens tied to currencies like the dollar, and they’re starting to catch on for fast and cheap payments. The Fed wants to understand how it can improve payment flows, especially in places where traditional systems create delays. Speakers will highlight the practical uses of stablecoins through real-world scenarios. DeFi and Traditional Finance Start to Overlap The agenda will also include discussions about decentralized finance and how it might work alongside the traditional banking system. This means regulators are examining tools like smart contracts and decentralized exchanges to determine how they can operate within legal and compliance frameworks. The goal is to explore what a more open but still stable financial system could look like. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Turning Assets Into Tokens Another topic on the table is tokenization, which involves turning physical assets into digital tokens that can be tracked and traded more easily. This could apply to anything from real estate to bonds or even everyday items. The idea is to create more efficient ways to transfer value and allow for things like fractional ownership, which could open up access to markets for a wider group of people. Artificial Intelligence Joins the Conversation Artificial intelligence will also be featured in the discussions. The focus here will be on how AI can help detect fraud, process transactions faster, and bring down costs in the financial system. Some of the speakers will share examples of how machine learning is already helping make payments more secure and more efficient behind the scenes. BitcoinPriceMarket CapBTC$2.23T24h7d30d1yAll time Governor Waller Outlines the Vision Federal Reserve Governor Christopher Waller will play a lead role at the event. He has emphasized the need to keep improving how payments work and has said the Fed wants to hear from people who are already building new tools. He sees this moment as a chance to think seriously about how innovation can make payments faster, safer, and easier for everyone. DISCOVER: 20+ Next Crypto to Explode in 2025 A Careful Approach to Rapid Change This conference also shows that the Fed is beginning to take digital assets more seriously. Earlier this year, regulators made it easier for banks to enter digital currencies, and now the Fed is listening and learning before setting new policy. The tone of this event leans more toward open dialogue than strict rule-making. What the Fed Hopes to Learn When the event wraps up, the Fed is expected to leave with new ideas and a better sense of what’s possible. These insights could help shape how regulators approach stablecoins, decentralized finance, and tokenized assets in the future. What’s clear is that these technologies are no longer on the edges of the system, but instead are becoming part of the conversation at the highest level. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The Fed’s Payments Innovation Conference will take place on October 21 and focus on how digital tools are changing the way money moves. Stablecoins will be a major topic, with real-world examples showing how they can improve speed and reduce friction in payment systems. The conference will explore how decentralized finance and traditional banking could work together under proper legal and compliance structures. Tokenization and AI will also be part of the agenda, with a focus on how they can boost efficiency, lower costs, and expand market access. Governor Christopher Waller will lead discussions, aiming to better understand innovation before the Fed sets new payment-related policies. The post Fed Plans October Conference to Rethink the Future of Payments appeared first on 99Bitcoins.

XRP price is attempting to recover above the $2.80 zone. The price is now facing hurdles near $2.88 and might start another decline below $2.80. XRP price is attempting to recover above the $2.80 resistance. The price is now trading above $2.80 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support at $2.850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $2.8120 zone. XRP Price Faces Resistance XRP price managed to stay above the $2.720 level and started a recovery wave, like Bitcoin and Ethereum. The price climbed above the $2.75 and $2.80 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $3.040 swing high to the $2.70 low. However, the price seems to be struggling to stay above the $2.880 resistance zone. Recently, there was a break below a short-term rising channel with support at $2.850 on the hourly chart of the XRP/USD pair. The price is now trading above $2.80 and the 100-hourly Simple Moving Average. If the bulls protect the $2.8120 support, the price could attempt another increase. On the upside, the price might face resistance near the $2.880 level. The first major resistance is near the $2.9160 level or the 61.8% Fib retracement level of the downward move from the $3.040 swing high to the $2.70 low. A clear move above the $2.9160 resistance might send the price toward the $2.960 resistance. Any more gains might send the price toward the $3.00 resistance. The next major hurdle for the bulls might be near $3.050. Another Drop? If XRP fails to clear the $2.880 resistance zone, it could continue to move down. Initial support on the downside is near the $2.8120 level. The next major support is near the $2.80 level. If there is a downside break and a close below the $2.80 level, the price might continue to decline toward $2.740. The next major support sits near the $2.70 zone, below which the price could gain bearish momentum. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.8120 and $2.80. Major Resistance Levels – $2.880 and $2.9160.

American Bitcoin, a mining and treasury firm led by the Trump brothers, made its public debut with a bang. After its merger with Gryphon Digital Mining, the stock almost doubled within the first hour. That sudden spike triggered a series of trading halts before the price finally cooled off, ending the day around sixteen percent higher than where it started. The Company Aims to Raise $2.1 Billion Right after that busy debut, American Bitcoin moved to raise $2.1 billion through new share offerings. The plan is to use that money to grow its mining business, buy more Bitcoin, and fuel general expansion. It is a bold move for a company that just hit the public markets, and one that clearly signals it is not playing small. Trump Brothers Hold the Reins Ownership of the company remains concentrated, and the Trump brothers still hold a firm grip, with support from mining company Hut 8. This level of control keeps the decision-making tight and the strategy focused, especially as the company grows under a national spotlight. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in September2025 Bitcoin Mining Meets Treasury Management The main idea behind American Bitcoin is simple. Mine Bitcoin, build a reserve, and buy more when the time feels right. The company positions itself as both a producer and holder of Bitcoin, aiming to generate cash while steadily building long-term value on the balance sheet. Political Attention Adds a Layer of Interest Given the Trump name, the company’s rise brings more than the usual business coverage; there is also political interest. Some are watching for signs of innovation, while others are raising questions about potential conflicts. Either way, the attention is baked in, and the company is moving ahead regardless. BitcoinPriceMarket CapBTC$2.23T24h7d30d1yAll time New Path to Public Markets American Bitcoin did not follow the traditional IPO route. Instead, it went public through a merger with Gryphon, jumping straight into a Nasdaq listing. That gave it instant market access, along with a strong burst of visibility. The response from investors was quick and loud, showing that there is still plenty of excitement in the crypto space. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 The Pressure Is on Now With the fundraising in motion, American Bitcoin needs to prove it can execute. The spotlight is on, the cash is coming in, and expectations are high. Markets will want to see clear results, and the team behind the company will need to deliver if it wants to keep the momentum going. A Big Moment for Crypto and Public Markets This debut sets the stage for a new wave of crypto-related companies trying to bridge the gap between digital assets and traditional finance. Whether this becomes a lasting model or just another moment in a volatile market depends entirely on what the company does next. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways American Bitcoin surged on its Nasdaq debut, nearly doubling before settling 16% higher by the end of the day. The company plans to raise $2.1 billion through share sales to expand mining operations and grow its Bitcoin reserves. Led by the Trump brothers, American Bitcoin keeps decision-making tightly controlled with backing from Hut 8. It combines Bitcoin mining with treasury strategies, positioning itself as both a BTC producer and long-term holder. Political and investor attention are now locked on the company as it tries to prove itself in the public markets. The post Trump-Backed American Bitcoin Goes Public in Big Nasdaq Launch appeared first on 99Bitcoins.

Ondo Finance, a Layer 1 (L1) blockchain protocol, has recently announced the launch of Ondo Global Markets, designed to enable non-US investors to access over 100 tokenized US stocks and exchange-traded funds (ETFs) on the Ethereum (ETH) blockchain. Following this announcement, the price of Ondo’s native token, ONDO, surged over 6% close to the $1 mark after opening the week at $0.86, aligned with the broader crypto market’s correction. Founder Calls Ondo Global Markets A ‘Breakthrough’ According to the protocol’s press release, Ondo Global Markets aims to provide one of the largest gateways for global exposure to US markets, particularly for eligible investors in the Asia-Pacific, African, and Latin American regions. The newly launched platform is now live on the Ethereum blockchain, with plans to expand to other networks, including BNB Chain, Solana (SOL), and Ondo Chain. The new platform allows both retail and institutional investors outside the US to mint and redeem tokenized US stocks and exchange-traded funds 24/5, utilizing traditional exchange liquidity where applicable. These tokenized assets are reportedly fully backed by the underlying securities held with US-registered broker-dealers.. Investors will benefit from total economic returns equivalent to those of the underlying stocks, including price fluctuations, dividends, and corporate actions, as each token mirrors the performance of its asset. Nathan Allman, the Founder and CEO of Ondo Finance, expressed enthusiasm about the launch, stating, “Ondo Global Markets is a breakthrough in financial access.” He emphasized that the platform allows global investors to tap into the largest selection of transferable tokenized US stocks and exchange-traded funds on-chain, drawing a parallel to how stablecoins have introduced the US dollar into the digital realm. Bridging Traditional Assets And Blockchain Technology A spokesperson for Ondo Finance highlighted the similarities between tokenized stocks and USD-pegged stablecoins, noting that the former provides the same total-return exposure as their underlying assets: Tokenizing the US dollar created an entirely new level of global reach and usability for dollars. Similarly, tokenized Treasuries have exploded in adoption, growing over 7,000% since 2023, because they meet real needs: 24/7 access to US dollar-denominated assets, and the ability to hold a stablecoin with yield. Ondo was one of the first movers here and continues to lead this space, with over $1.4B in TVL across 10 chains. To facilitate this service, Ondo tokenized stocks will be supported by a wide array of leading crypto wallets, exchanges, and infrastructure providers, including Bitget Wallet, Trust Wallet, OKX Wallet, and Chainlink, among others. The spokesperson who spoke with The Defiant believes this extensive support network allows investors to easily access and manage their tokenized equities across various on-chain applications. When writing, ONDO trades at $0.96, being one of the few tokens recording gains in all time frames. However, despite the cryptocurrency’s 60% growth year-to-date, it still trades 54% below its $2 record price. Featured image from DALL-E, chart from TradingView.com

Ethereum price started a fresh recovery wave above the $4,350 zone. ETH is now facing hurdles near $4,500 and might struggle to continue higher. Ethereum is still struggling to recover above the $4,500 zone. The price is trading above $4,400 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $4,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $4,500 level in the near term. Ethereum Price Recovers Further Ethereum price started a recovery wave after it formed a base above the $4,200 zone, like Bitcoin. ETH price was able to climb above the $4,265 and $4,320 resistance levels. The bulls were able to clear the 50% Fib retracement level of the key drop from the $4,660 swing high to the $4,209 low. Besides, there was a break above a key bearish trend line with resistance at $4,385 on the hourly chart of ETH/USD. Ethereum price is now trading above $4,420 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,500 level or the 61.8% Fib retracement level of the key drop from the $4,660 swing high to the $4,209 low. The next key resistance is near the $4,520 level. The first major resistance is near the $4,555 level. A clear move above the $4,555 resistance might send the price toward the $4,620 resistance. An upside break above the $4,620 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,660 resistance zone or even $4,720 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,500 resistance, it could start a fresh decline. Initial support on the downside is near the $4,400 level. The first major support sits near the $4,360 zone. A clear move below the $4,360 support might push the price toward the $4,315 support. Any more losses might send the price toward the $4,260 support level in the near term. The next key support sits at $4,220. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $4,360 Major Resistance Level – $4,500