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Northern Ontario Business calls the Ring of Fire “the garden of agony” for mining companies ever since the discovery of nickel and chromite in the James Bay region in 2007-08: Over the decades, the vast and open-ended mineral potential of the remote Ring of Fire has received its share of passionate lip service from Ottawa and Queen’s Park. But these two orders of government have also contributed to the lack of Far North development through apathy and inaction, arduous assessment processes, and diverging policies over how — or even if — resource extraction should take place in the James Bay lowlands. The sclerotic pace of development though could be quickening, thanks to a change of federal government, new initiatives from the Doug Ford-led provincial government, and progress on roadbuilding that is being headed up by local First Nations. A promise of new mining infrastructure has brought a fresh wave of optimism from resource companies advancing deposits in the region, who see a new “area play” developing. Curiously though, this area play, i.e, mineral exploration that takes on a regional perspective, involves mostly major and mid-tier mining firms rather than junior resource companies that normally create areas plays where one company makes a discovery then begins staking ground, followed by others with similar ambitions. What is the Ring of Fire? The Ring of Fire is one of the most promising opportunities for critical minerals development in the Canadian province of Ontario. Wikipedia says “The Ring of Fire is a vast, mineral-rich region located in the remote James Bay Lowlands of Northern Ontario Canada. Spanning approximately 5,000 square kilometres (1,900 sq mi), the area is rich in chromite, nickel, copper, platinum group elements, gold, zinc and other valuable minerals. Discovered in the early 21st century, the Ring of Fire is considered one of the most significant mineral deposits in Canada, with the potential to greatly impact the nation’s economy and global mining industry.” “The region is centred on McFaulds Lake near the Attawapiskat River in Kenora District, approximately 400 kilometres (250 miles) northeast of Thunder Bay, about 70 kilometers (43 miles) east of Webequie, and due north of Marten Falls and Ogoki Post, which is near/on the Albany River in the James Bay Lowlands of Ontario, Canada.” The Sudbury Star notes the Ring of Fire spans an area of Ontario bigger than Quetico Provincial Park — itself nearly as big as Algonquin Park. According to the Canadian Mining Journal, the number of mining claims in the Ring of Fire has increased by over 28% since September 2022. The 33,074 claims, as of September 2023, now cover approximately 626,000 hectares, nearly 10 times the size of Toronto. Privately held Juno Corp currently holds the most claims at 17,000 covering about 333,000 hectares. More on Juno and other companies operating in the ROF below. Minerals found in the Ring of Fire to date include: chromite copper zinc gold diamonds nickel platinum group elements Source: Ontario government Source: Canadian Geographic Ontario’s Critical Minerals Strategy is a five-year roadmap that will secure the province’s position as a reliable global supplier of responsibly sourced critical minerals. According to the provincial government, Ontario is a globally significant producer of critical minerals including nickel and cobalt and is home to several advanced lithium and graphite development projects. Other critical minerals that have either been produced in the province, or that occur in deposits currently being developed, include barite, chromite, fluorspar, magnesium, molybdenum, niobium, phosphate and tungsten. These minerals are key components of stainless steel and other important building materials that contribute to economic growth. The global supply chain issues that have taken root over the last couple of years and recent geopolitical conflicts demonstrate that, now more than ever, steps must be taken to ensure that we have the minerals and advanced materials required to continue transitioning to a more connected, cleaner and technology-driven economy. Currently, a great deal of global mine production and important mineral processing and refining capacity for critical minerals, such as those minerals and materials required to produce electric vehicle batteries, is concentrated in only a handful of jurisdictions outside of North America. Where and how critical minerals are mined, processed and refined is important to manufacturers and consumers. Ontario’s exceptional mineral potential, supportive business climate and strong environmental and social governance fundamentals make the province a premier global destination for investment into critical minerals development. The Ontario government goes on to say the Ring of Fire is “a transformative opportunity for unlocking multi-generational development of critical minerals,” and that “Ontario continues to make progress on the ‘Corridor to Prosperity’ leading to the Ring of Fire region by collaborating with First Nations partners on legacy infrastructure development in Northern Ontario.” Source: Ontario government The Ring was discovered in 2007 by late Sudbury prospector Richard Nemis. As mining lore has it, Nemis came upon the first trove of chromite in the region and, being a fan of Johnny Cash, named the area after Cash’s hit song. The Sudbury Star points out that it was actually his financier friend Robert Cudney, however, who suggested the name while dining with Nemis and former mining exec John Harvey at a Toronto restaurant, according to the book ‘Ring of Fire: High-Stakes Mining in a Lowlands Wilderness’. The name also alludes, however, to the shape and nature of the geological formation that contains the minerals — a crescent of ancient, volcanic rock. Cash’s song “Ring of Fire,” was written by his 2nd wife June Carter in 1963. Carter wrote the song trying to express what it felt like falling in love with the man in black. Mineral endowment The Star quotes Stan Sudol, a Toronto-based analyst and frequent contributor to the newspaper, who called the Ring of Fire “the most important mining discovery in Canadian history,” which could “even exceed the legendary Sudbury Basin” in output someday. The Ontario mines ministry says the area is rich in chromite, cobalt, nickel, copper and platinum group elements. The underlying greenstone belt is similar to the world-famous Abitibi Greenstone Belt that runs from Timmins and Kirkland Lake in Ontario to Quebec’s Rouyn-Noranda and Val d’Or. The Ring of Fire’s metal resources have a wide variety of applications, everything from EV batteries to military equipment, wind turbines and semiconductors. Chromite, found in larger quantities in the ROF than anywhere else in North America, is turned into ferrochrome, a key alloy in the manufacture of stainless steel. (Sudbury Star) As for how much wealth is trapped in the rock, Ontario Premier Ford’s estimated economic potential of “upwards of a trillion” is likely hyperbole. The more scientific figure is in the tens of billions. The Star notes a decade ago, late geoscientist James Franklin estimated future output at $30-50 billion, while in February 2025, Ricochet Media said Ford’s trillion-dollar figure “is astronomically out of step with actual estimates that go as high as $77 billion, when adjusted for inflation.” New roads Extracting the Ring of Fire’s metals however is far from easy. Nothing can happen without a way to transport material in and out. That statement is easier to appreciate when one considers that this vast, isolated area still has no rail or road access — the nearest road apart from ice roads built during the winter is 300 km away. The area which consists largely of muskeg is also home to multiple First Nations, that by law must be consulted before any mining or mining infrastructure can take place on their territories. According to the Canadian Mining Journal: Although chromite, copper, and nickel were discovered in 2007, the area’s remoteness, lack of infrastructure, opposition from some neighbouring First Nations, and bureaucratic red tape have been ongoing issues. The remote location can only be accessed by planes and winter roads (ice roads) only accessible for about two months of the year… Three permanent roads are planned, connecting two of the communities and proposed mines. The Marten Falls community access road would create a 200-km north-south permanent route from Marten Falls First Nation to the provincial highway. The Webequie supply road is a proposed 107-km road which would provide year-round access from the community’s airport to the Ring of Fire. The proposed 117 km to 164 km northern road link would connect the mines to the two local roads. According to the Marten Falls First Nation website, “Better access would allow reduced transportation costs for goods and services; meaning more affordable food, fuel, and other vital supplies and services; enhanced access to emergency, health and social services; increased opportunity for training and jobs for First Nation people and businesses during planning and construction; and increased opportunity for local sustainable economic development.”… Road construction is estimated to take from five to 10 years and will be carried out by the Marten Falls and Webequie First Nations. The roads are estimated to cost approximately two billion dollars. Northern Ontario Business reported this week that the Webequie released an environmental report on the Webequie supply road — seen as a key step toward opening the region to mining development: The draft assessment and impact statement outlines possible effects of the proposed two-lane all-season road and other planned and existing projects, including the Eagle’s Nest and Big Daddy mines, as well as the Marten Falls community access road. Global News said on June 3 that “blob:https://aheadoftheherd.com/ebdc6501-e7e4-4bcd-82c1-3dce56fc0d38A road to the mineral-rich Ring of Fire in northern Ontario is at the centre of the Ford government’s economic strategy, relying on mining contracts to create jobs and prosperity in the face of tariffs from the United States.” Source: Ontario Government “Development of a regional infrastructure corridor providing all-season road access, led by First Nation communities, is key to unlocking the Eagle’s Nest deposit,” Wyloo states on its website. Plugged In Last year 16 First Nations received power from the grid in Ontario and all the First Nations in the Ring of Fire are expected to have power by the end of this year. That’s very positive in that these communities are going to be getting off diesel power, and of course these same communities want to see roads in, because they’re going to benefit from lower costs, better access to housing, energy, schools, health care, and at the same time there’s obviously an interest in developing the mines because of the economic benefits. Cutting red tape The Ring of Fire has been under the spotlight recently as both Ontario and the federal government look to counter US trade moves and build domestic mining and energy capacity. The Ford government, particularly, has grown frustrated with the long timelines for opening mines and completing major projects. This is the justification it offers for tabling Bill 5, the ‘Protect Ontario by Unleashing Our Economy Act’. Passed by Queen’s Park on June 4, Bill 5 aims to speed up mining projects and other developments in areas deemed to have economic importance. The legislation allows for creation of Special Economic Zones, where Cabinet would be allowed to exempt projects from certain environmental and labor laws. Ford has said the Ring of Fire will be among the first places that get this designation — cutting the time period for project approvals in half. His government has committed $1 billion to build out the Ring of Fire. Prime Minister Mark Carney has pledged to work closely with the Ontario government to rapidly develop the area, in part through a ‘One Window’ approach that will enable companies “to navigate regulations faster and with fewer redundancies.”(Sudbury Star) In March, Carney staked out his position in calling for an “action-oriented economy” vowing to end the duplicative environmental impact assessment processes for projects deemed nationally significant. “One project, one review; it’s time to build,” Carney said. (Northern Ontario Business). Canadian Mining Journal mentions several Ontario government initiatives for developing mineral resources in the province. They include the Junior Exploration Program that helps juniors finance early-exploration projects; the Critical Minerals Innovation Fund that supports Ontario companies in developing new mining technologies; and Bill 71, the Building More Mines Act: Bill 71 introduced amendments to the Mining Act that include changes to closure plans, recovery of minerals frameworks, and decision making. The minister can issue an order to defer one or more elements of a closure plan to prevent the delay of mining projects. Minor site alterations do not require filing a Notice of Material Change… According to the minister of mines, “The economic benefits are already starting to accrue. Within the communities, the province has announced a billion-dollar commitment to develop the broadband and facilities, as well as the transmission corridors. There have already been hundreds of millions of dollars put into the Indigenous communities in the area.” Projects and companies The two biggest players in the Ring of Fire are Australia-based Wyloo Metals (privately owned), whose parent company is iron ore giant Fortsescue Metals; and unlisted Juno Corp, based in Toronto. As mentioned, Juno is the largest claim holder in the region with claims covering 4,600 square kilometers. According to its website, “Juno has an extensive and diversified list of targets for elements including Ni-Cu-PGE, VMS polymetallic Cu-Zn-Au, Au, Ti-V, and Cr.” Other companies: KWG Resources owns the Black Horse chromite project and maintains an interest in other deposits. KWG owns 90% of some chromite resources but the main chromite is owned by Wyloo. The remaining 10% is owned by Bold Ventures. PTX Metals (TSXV: PTX) is a junior with a copper-nickel-cobalt-PGE asset. PTX is surrounded by Barrick on the West end of its 250 sq km W2 Project. Under the Spotlight – Greg Ferron, CEO PTX Metals Canterra Minerals (TSXV: CTM) has a 100%-owned Ring of Fire property and has entered into a deal with Teck Resources for Teck’s potential acquisition of the property, subject to a 1.5% NSR royalty. Ecora Resources PLC (TSX: ECOR), a royalty and streaming company, has a 1% life-of-mine NSR royalty over a number of claims on the Black Thor, Black Label and Big Daddy chromite deposits owned by Wyloo Metals. MacDonald Mines Exploration, acquired by Canuc Mines in May, is developing the SPJ project which spans 19,710 hectares and is situated approximately 40 kilometers northeast of the prolific Sudbury Mining Camp. Bold Ventures’ (TSXV: BOL) Koper Lake project consists of four claims comprising approximately 1,024 hectares hosting chromite and massive sulfide occurrences that have yet to be delineated. In 2012 Bold Ventures signed an option agreement with Fancamp Exploration to earn in for up to 60% of the Koper Lake project. Bold’s Ring of Fire project was originally comprised of claims held by Bold Ventures and Rencore Resources. Pursuant to a merger transaction concluded in 2012, Rencore became a subsidiary of Bold Ventures. The Rencore claims were drill-tested in 2012. Copper Lake Resources’ (TSXV: CPL) exploration portfolio includes the Marshall Lake VMS copper, zinc and silver property west of Lake Nipigon, and the Ring of Fire Norton Lake nickel, copper, cobalt, palladium and platinum property. Both are in northwestern Ontario and serviced from Thunder Bay. Ongold Resources’ (TSXV: ONAU) Ring of Fire property is October Gold, which covers more than 10 km of the prospective Rideout Deformation Zone, with gold endowment estimated at >15m ounces. Eagle’s Nest Wyloo acquired Noront Resources in 2022 and now owns the Eagle’s Nest nickel-copper mine. It is touted as the largest high-grade nickel discovery in Canada since Voisey’s Bay. Wyloo says it hopes to begin construction of its mine in 2027, with production commencing by 2030. (Sudbury Star) Northern Ontario Business reports Eagle’s Nest contains more than 15.7 million tonnes of high-grade nickel with significant amounts of copper and platinum group metals. Wyloo has already invested $630 million on the Noront deal plus $25-30 million spent annually on the project, the publication states. Last May, Wyloo chose Sudbury as the battery mineral host city for a downstream battery mineral processing plant to be fed by Eagle’s Nest. Mine construction would start in 2027, coinciding with the start of road construction. Wyloo expects to release an updated feasibility study on Eagle’s Nest in a few months, Northern Ontario Business reported in April. According to its 2012 feasibility study, the mine will last about 11 years and cost approximately $609 million to build, states the Canadian Mining Journal. Reserves are estimated at 11.1 million tonnes grading 1.68% nickel, 0.87% copper, 0.87 g/t platinum, 3.09 g/t palladium, and 0.18 g/t gold. The company received a $500,000 grant from the Critical Minerals Innovation Fund to test storing tailings as underground backfill in mine workings. Conclusion The above-mentioned companies and their shareholders stand to benefit greatly from the road and power infrastructure the Ontario government is promising for the Ring of Fire. Wyloo has already spent $650 million on Eagle’s Nest which is a feasibility-stage mine. Agnico Eagle has made a substantial investment in the Ring through Juno Corp. Teck Resources and Barrick have both come into the camp. The First Nations have started to build roads from their communities to the supply roads. As this continues, you’ll see a wave of capital coming in for exploration, and then you’ll see these majors want to make significant investments because they realize the potential of this camp is billions of dollars worth of mineralization. The Ontario government wants to build a concentrator in the Ring of Fire and then have the refineries in Sudbury finish the product. As far as investors go, the Ring of Fire is currently an area play driven by major and mid-tier mining companies. It’s hard to invest directly into the ROF because the exposure is mostly to large, diversified mining firms. As you can see from the above list of juniors, quantity is scarce and that limits the number of quality junior vehicles into the play for investors. Musselwhite, Red Lake, Timmins and Sudbury have something in common, the camps never existed until the infrastructure came in. I believe if the federal and provincial government’s do what they promised, the whole area is going to become a very hot area for the majors to be a part of. That makes, for me, a junior with a quality land position in the Ring of Fire a must own. Especially a junior with a shallow resource on a massive, under explored mineralized footprint. Richard does not own shares of PTX Metals (TSXV:PTX). PTX is a paid advertiser on his site aheadoftheherd.com This article is issued on behalf of PTX. Legal Notice / Disclaimer Ahead of the Herd newsletter, aheadoftheherd.com, hereafter known as AOTH. Please read the entire Disclaimer carefully before you use this website or read the newsletter. If you do not agree to all the AOTH/Richard Mills Disclaimer, do not access/read this website/newsletter/article, or any of its pages. By reading/using this AOTH/Richard Mills website/newsletter/article, and whether you actually read this Disclaimer, you are deemed to have accepted it.

The Shiba Inu development crew has rolled out a new tech layer that could shift how people use SHIB. According to reports, the beta version of Shib Alpha Layer went live on June 12, 2025. It’s made in partnership with ElderLabs, and it got built without any VC backing. Now users can test it before the full launch. Shib Alpha Layer Beta Launch Based on reports, the Shib Alpha Layer brings all the separate rollups in the ecosystem under one hood. You won’t need to jump from bridge to bridge. You transact as if you’re on a single chain, even though dozens of rollups run beneath the surface. The project reached beta in record time, and the team says they did it all with their own funds. User Friendly Experience Users can pay fees in SHIB, BONE, or any token they hold. That cuts out the problem of having to swap tokens just to cover gas. You’ll also get near‑instant finality, so transactions show up almost right away. Those features may seem small, but they could pull in people who find current rollup setups clunky and slow. Shiba Inu: Security And Privacy Features Shib Alpha Layer uses ZAMA’s Fully Homomorphic Encryption. That lets smart contracts run on encrypted data, so the logic stays private. It’s rare to see FHE live in a crypto network, but the beta is already up and running. Security audits have been promised before the public release, which should ease some worries about bugs or hacks. Integration With Shibarium Shibarium is set as the settlement layer under this new system. According to lead developer Kaal Dhairya, every rollup becomes an L3 network, picking up the security that Shibarium offers. Future updates will open up rollup deployment to everyone and boost multi‑chain links. Instant bridging is on the roadmap, too, so moving assets between chains could happen in a click. The team’s main coder, Kaal Dhairya, pointed out that early critics called SHIB a joke coin. They’d ask “Wen Shibarium?” and spread fear, uncertainty and doubt. He said those jibes didn’t slow them down. Instead, they focused on building. Shytoshi Kusama, another lead developer, popped back on X after a few weeks off to highlight this work. He’s been drafting a whitepaper on how AI could team up with the Shiba Inu network. He also flagged Shiba’s new Web3 gaming push on Astra Nova’s TokenPlay.ai. Calling an end to SHIB’s “meme era” is a bold claim. But if the new layer works smoothly, it could mark a shift in how people think about Shiba Inu. Either way, June 12, 2025, will go down as the day this project vied for more than just the dog coin tag. Featured image from Unsplash, chart from TradingView

After a volatile but bullish start to June, Solana (SOL) is now facing strong selling pressure amid rising global uncertainty. The sudden escalation in the Middle East—triggered by Israel’s recent strike on Iran—has sparked market-wide volatility, prompting a flight to safety and a pullback across risk assets. Solana, which had been showing momentum alongside Bitcoin and Ethereum, has dropped over 15% since June 11, erasing much of its early-month gains. As macro risks continue to rise, the altcoin market remains vulnerable to further downside. SOL is now approaching a critical technical level, and a breakdown could signal deeper losses if global tensions persist. Top analyst Cheds shared a technical analysis revealing that Solana is now re-testing a key daily demand zone, a level that previously supported bullish continuation. If this area fails to hold, Solana could revisit lower support levels seen earlier this year. For now, traders are watching closely to see if buyers step in to defend the zone or if further conflict will fuel more risk-off behavior. The next few days will be critical in determining whether SOL can bounce or if the broader market downturn intensifies. Solana Re-Tests Key Support As Market Tensions Mount Solana is standing below key levels, retracing after a brief rally attempt earlier this week. The asset had spent several days consolidating beneath the $170 level, failing to break above resistance as selling pressure intensified amid rising global tensions. Now, with the broader market on edge following the Israel–Iran conflict escalation, SOL finds itself back at a critical support zone. Bulls remain cautiously optimistic, encouraged by the broader market’s resilience and the potential for Bitcoin and Ethereum to regain strength. However, caution dominates sentiment as Solana, like most altcoins, still trades significantly below its all-time high near $260. The current environment of geopolitical risk and macroeconomic uncertainty has suppressed momentum in the altcoin space, making support levels all the more important. Cheds highlighted in a recent update that Solana is now re-testing a key daily demand zone around the $145 level. This zone has previously acted as a launchpad for bullish moves, and holding above it could provide the structure needed for a new leg higher. However, failure to maintain this level might open the door for further downside, with the next major support below $130. For now, all eyes are on how Solana reacts around $145. A solid bounce with increased volume could attract short-term buyers looking to ride a potential recovery. But with global markets rattled by uncertainty, the coming sessions will be crucial in determining whether this demand zone becomes a springboard—or a trapdoor. SOL Price Analysis: Re-Test of Support as Volatility Spikes Solana is currently trading at $145.24 after an aggressive drop from the $165–$170 range. The 4-hour chart shows a clear breakdown below all key moving averages (50, 100, and 200), which had previously served as dynamic support. The red 200 SMA at $165.33 now acts as overhead resistance, capping short-term recovery attempts. The recent sell-off—triggered by broader geopolitical tensions in the Middle East—pushed SOL straight into a key demand zone around $143–$145, where buyers have historically stepped in. The long lower wick from today’s candle reflects strong intraday buying at these levels, suggesting that some participants see this as a value zone. However, volume remains elevated, and the structure appears fragile. Any failure to hold $145 could open the door to a deeper retracement toward the $130 region. On the flip side, reclaiming the 100 SMA at $157.46 would be an early sign of renewed bullish momentum. Momentum indicators likely remain oversold, and if the broader market stabilizes, this level could mark a temporary bottom. Still, with volatility high and macro uncertainty looming, traders may want to stay cautious until a clear direction emerges. For now, $145 is the line in the sand. Featured image from Dall-E, chart from TradingView

Ethereum’s price action this week has been very notable, with the leading altcoin breaking above $2,800 again for the first time in four months. Ethereum managed to break above the $2,800 mark for the first time since February, briefly touching $2,870 before pulling back slightly. Two separate analyses by crypto strategist Crypto Patel on the social media platform X suggests Ethereum is now on the right track. The first, based on an 8-hour chart, highlights a rally toward $4,000. The second, using a long-term two-week timeframe, outlines a bullish setup that could send Ethereum soaring to $10,000 and beyond. Ethereum’s Breakout From Sideways Consolidation Zone In a recent analysis shared on X, a crypto analyst known as Crypto Patel highlighted Ethereum’s attempt to break out of its established range. Using the 8-hour candlestick chart, he pointed out how the Ethereum had spent many weeks since early May trading between clear support at $2,366 and resistance around $2,734. The breakout seen on the chart occurred just above this resistance zone, when Ethereum briefly pushed past $2,800 before facing some rejection. If this breakout holds above $2,800, Ethereum could initiate a steep upward rally toward the $3,500 to $4,000 region in the coming weeks. Crypto Patel noted the importance of watching whether Ethereum sustains above the $2,750 breakout line, as a successful confirmation could trigger an influx of bullish momentum. Ethereum’s To $10,000 In The Long-Term In a follow-up post analyzing a much larger timeframe, Crypto Patel shared a two-week candlestick chart that mapped Ethereum’s longer-term structure since 2018. The chart revealed a well-defined bullish setup, including a bounce from a key bullish order block around $1,400 in April. This bounce acted as a support level, with the resulting candlestick being a bullish one that broke through another order block between $1,700 and $2,500. Patel pointed out that Ethereum is now showing signs of a long-term bullish continuation pattern. With support levels already locked in for the next bear market, the analyst projected a target above $10,000, citing a 438% upside potential from current price levels. The chart also marks $2,500 as a structural pivot point, with Ethereum’s ongoing upward trajectory expected to strengthen if this support level continues to hold. Therefore, the path to $10,000 will depend on Ethereum’s ability to turn its recent resistance break into sustained momentum. The $2,800 region must now serve as a support base rather than a resistance ceiling. However, this has failed to really materialize in the past 24 hours, as Ethereum is currently down by a massive 9.6%. The ensuing price action has seen the leading altcoin now back trading within this consolidation range. Failure to hold above $2,500 could cascade to more losses over the weekend until it closes on $2,366 again and probably initiate another bounce from here.

When Alberta-based Buffalo Rock Mining acquired KORITE, North America’s largest producer of ammolite, it flew right under the mining industry’s radar, even as the company’s creations were featured in the New York Times. The acquisition, say Indigenous owners Tracy and Beth Day Chief of the Kainai Nation, reflects a revitalized vision for the company, in committment to ethical and sustainable mining. The value of the transaction was not disclosed, and privately-held Buffalo Rock Mining does not disclose mineral resource information. Ammonite extraction is one of the rarest and most delicate mining processes in the world, and KORITE established itself as the leading global producer, controlling 95% of the world’s known ammonite reserves, and selling mainly into European and Asian markets. Ammolites are rare, rainbow coloured gemstones derived from the fossils of ammonites — extinct marine mollusks from the dinosaur-era. Ammonite fossils are mined solely in south-central Alberta to produce the organic gemstone ammolite. The Blackfoot peoples recognize ammonite—which they call “Iniskim” meaning ‘Buffalo Healing Stone’—as a sacred stone that brought prosperity. The only known reserves in the world are in the Bearpaw formation, which spans the Canadian provinces of Alberta and Saskatchewan and the US state of Montana. Ammolite fossil. Image from KORITE KORITE has been in business for 45 years and Buffalo Rock has been mining for over 20 years and the combined company employs about 30 people, including miners. The company owns the mineral rights from its flagship namesake mine. Buffalo Rock was mining and selling rough stones to the market, while KORITE was cutting and polishing stones, sold both as preserved fossils and as art and jewelry. KORITE’ ammonite fossils retail online for up to C$120,000 — and one fossil sold on Christie’s auction for C$250 000, according to president Amarjeet Grewal. “We own 95% of the market share of the ammolite deposits in Alberta, and its only found in Alberta – you can’t find this anywhere else in the world,” Grewal told MINING.com in an interview. “It’s mine to market – not only the mining but cutting the gemstones [and] making jewelry. We have always been mine to market whereas Buffalo Rock Mining did only the mining part, so two different companies to the point that we were almost in competition,” Grewal said. “We didn’t sell rough.. we cut the gemstones and finished jewelry whereas Buffalo Rock Mining weren’t interested in finishing any gemstones – they weren’t supplying in volume to the market.” Now that the company is vertically integrated, Grewal said the protocols to follow both at provincial and federal levels are rigorous, and the environmental standards are high. “We work with Heritage Canada because this is cultural property, so every piece of fossil that leaves the country needs a permit,” she said. Buffalo Rock Mining has, on the reserve, another 30-40 years of mineral rights, Grewal said, adding that how many acres the company mines per year will depend on the supply and demand. While KORITE is well known in Asian markets, Grewal said the aim after the acquisition is to gain visibility in the Canadian market. “In southeast Asia from a feng shui perspective ammolite is a holistic stone and it brings good luck and good energy so it’s very well received, so that’s our primary market,” she said. Grewal also noted the irony of the company selling its Canadian fossils and jewelry in foreign markets while the brand is virtually unknown locally. “You’re selling overseas and in your own backyard your neighbors don’t know you exist,” she noted. Stay tuned as MINING.com tours the KORITE ammolite mine in Alberta with Buffalo Rock Mining on a site visit in July

Week in review: Sentiment jumps around between positive CPI & PPI reports and major geopolitical turmoil The week began quietly across most asset classes, except for cryptocurrencies—Bitcoin surged to the $110,000 level before pulling back. Forex markets remained subdued as participants awaited key US inflation data, with the Consumer Price Index (CPI) and Producer Price Index (PPI) released on Wednesday and Thursday, respectively. One recurring theme was the underwhelming progress in US-China talks, which yielded few concrete outcomes beyond commitments to continue discussions. We got two consecutive Inflation reports that were welcomed news for markets with the Core PPI coming in at 3.0% vs 3.1% exp. and Core CPI coming in at 0.1% m/m vs 0.3% expected. [Linked: Full data breakdowns] Turning to less-publicized data, the third consecutive Weekly Jobless Claims report came in above expectations, a developing trend that warrants further attention. This softer labor data contributed to some safe-haven demand, evidenced by a strong 30-year US Bond auction—a rare sight throughout the past year. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

“Men lie, women lie, but charts and numbers do not lie,” EGRAG CRYPTO stated in a recent post on X, as he highlighted the importance of the Fib 0.5 level in XRP Dominance. According to him, this level has historically served as a major resistance zone. It acted as a key barrier in October 2019 and November 2020, both instances marking the onset of bear markets. In the current cycle, the Fib 0.5 level has once again proven significant, as it has rejected price advances in January and March 2025. The Knocking On The Door Analogy For XRP To drive his point home, EGRAG CRYPTO introduced what he called the “Knocking on the Door” analogy, a simple yet powerful metaphor to explain how resistance levels work in technical analysis. He stated that resistance is like a door; each time it is tested or “knocked on,” the likelihood of it eventually opening increases. EGRAG pointed out that XRP Dominance has now tested this macro resistance level four separate times. These repeated tests are not just coincidences; they indicate building pressure at that level. Traders and analysts often interpret such repeated encounters as signs that the asset is preparing for a significant move, as momentum continues to build with each attempt to break through resistance. Looking ahead, EGRAG suggested that the fifth “knock” on this resistance level might be the one that finally breaks it. If this happens, XRP Dominance could form a bullish Bull Flag pattern, a technical formation that often precedes upward moves. According to EGRAG, this breakout could propel XRP Dominance to around 27%, marking a major shift in its market strength and possibly setting the stage for a broader bullish trend. Market Cap Projection & Future Potential The analyst unveiled a compelling projection that has stirred excitement within the XRP community: if XRP reaches a price of $27 with a 27% market dominance, this could push the total market capitalization to $5.5 trillion. This bold forecast reflects not only the possible future strength of XRP but also envisions a significant expansion of the broader crypto market. He further explained that with a $5.5 trillion total market cap, XRP claiming 27% of that share would result in a market capitalization of approximately $1.485 trillion. Such a figure would further solidify its status as a key player in the blockchain space. He maintained that XRP could still reach $27 while maintaining 27% market dominance, especially if the overall market experiences a strong bullish cycle. In his view, $1.485 trillion is not just a dream but a viable target that highlights XRP’s massive growth potential.

A sudden wave of selling hit crypto markets in the early hours of Friday, as reports of an Israeli airstrike on Iran set off fresh jitters. Bitcoin sank 5%, slipping under the $104,000 mark. Altcoins fared worse, with losses ranging from 6% to 9%. Based on reports from Coinglass, more than $1 billion was wiped out in liquidations, over $1 billion of which were long positions. Rising Tensions Shake Global Markets According to market watchers, the strike prompted a swift move into safe assets. S&P 500 futures tumbled 1.9%, while oil and gold jumped sharply. WTI crude climbed more than 12%, reaching about $77 per barrel. Gold surged past $3,400 an ounce as investors sought shelter. Crypto Traders Feel The Heat Arthur Hayes, the ex-CEO of BitMEX, warned of rough waters ahead. “Hold on to your butts out there, degens,” he wrote after the crash. He also pointed to US President Donald Trump’s planned tariffs as an added layer of risk. Ethereum slid 8% down to $2,505, right at a key support level. Other coins fell up to 10% in just a few hours. Safe Havens Caught In The Crossfire Based on reports, gold and oil didn’t hold back. Oil prices have climbed about 30% since May lows, analysts say. Anyone betting on lower inflation or early rate cuts may have to rethink things. Gold’s climb suggests that many feel uneasy about what comes next. Even so, some expect this spike to calm once tensions ease. What Comes Next For Crypto Short-term views remain mixed. Some traders see this as a knee-jerk reaction and expect a rebound once headlines fade. Others warn that the US CPI release later this week could add another twist. Inflation data could either fuel more selling or pave the way for relief if numbers come in cooler than expected. Volatility is back with a vengeance. Over the past weeks, markets were already on edge amid chatter of higher interest rates and global conflicts. Now, with the Middle East front in focus again, big swings may stay in place. Analysts even suggest Bitcoin could dip to $95,000 if selling continues to gather steam. A $1 billion wave of liquidations isn’t small. At the same time, the speed of the move may leave some traders hoping for a quick bounce. Watching safe-haven assets, US economic data, and any new developments in the Iran-Israel tensions will be key in the hours and days ahead. Featured image from Stratfor, chart from TradingView

Dow Jones recovers 400 points from daily low.Middle East tensions impacting market sentiment.Defense stocks rise, airlines stocks fall.Markets could face gaps over the weekend.Read More: Oil Surges 10%, Gold Above $3400/oz as Israel Strikes Iran The Dow Jones Index has recovered around 400 points from its daily low as markets shrug of initial fears of a wider Middle East conflict. There are a lot of conflicting reports circulating online about the attack on Iran overnight as Israel appears to have easy access to Iranian airspace. These developments as well as bullish comments from US President Trump about Israels rights to defend itself and that the US would provide aid in the case of an Iranian response appear to have led to a slight improvement in sentiment. Markets appear to be of the belief that a significant Iranian response may not be forthcoming given the scope of the Israeli offensive which has led to the death of many Commanders of the IRGC as well damage to ballistic missile launchers and the Iranian air defense system. close Source: TradingView (click to enlarge) Source: TradingView (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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Bitcoin’s recent price action has shown signs of fading momentum three weeks after reaching a new all-time high of $111,814. The leading cryptocurrency climbed back above $110,000 on Monday off the back of cooling U.S. inflation data and a temporarily weaker dollar. However, the rally was short-lived. Profit-taking, compounded by geopolitical tensions between Israel and Iran, has contributed to a risk-off environment that pushed Bitcoin down below $105,000 in the past 24 hours. This sharp reversal highlights a significant technical level that could decide whether Bitcoin sustains its uptrend or enters a crash towards $94,000. Final Fibonacci Resistance Holding The Line According to a new analysis shared by pseudonymous crypto analyst XForceGlobal on the social media platform X, Bitcoin’s current corrective structure could deepen if it fails to overcome the 88.6% Fibonacci resistance level. The analyst highlighted that the bullish impulse that carried Bitcoin now appears to be losing steam. The price zone around $110,500, which is marked by the 88.6% Fibonacci resistance, has not been convincingly breached, casting doubt on the strength of the current wave structure. Bitcoin tested this level twice earlier this week, and, as noted by the analyst, if this resistance level fails to break soon, there is a slight possibility of a deeper pullback. If this pullback does occur, this would lead to the formation of a corrective wave C, and with distinct symmetry in an ABC corrective pattern. In this case of the corrective Wave C playing out, the next central area of interest lies around the $94,000 level, an area that aligns with the completion of a larger impulse Wave 2. Wave 2 Dip To $96,000 Before Bullish Wave 3 Begins The rundown of a corrective Wave 2 and a bearish impulse Wave 2 is based on the outlook of Bitcoin failing to clear the 88.6% Fibonacci resistance at $110,000. Applying the Elliott wave count on the current price action shows that the recent push to $111,814 all-time high was a larger bullish impulse Wave 1. However, the ensuing correction since then has also played out in the form of a sub-wave 123 structure, and an ABC corrective pattern. Altogether, these are expected to make up a larger corrective impulse Wave 2. Nevertheless, XForceGlobal noted that Bitcoin is still in a highly bullish structure on the macro level. If the price action plays out this way, the next move after the impulse Wave 2 to $94,000 would be a reversal upwards with bullish impulse Wave 3. In this case, the analyst projected an expansion move that would send Bitcoin to another all-time high. Notably, the price target in this case would be a surge above $118,500. At the time of writing, Bitcoin is trading at $105,000, down by 2.5% in the past 24 hours.

Condor Resources (TSXV: CN) says its Cobreorco project in central Peru has passed an “important” permitting milestone following the approval of its environmental impact statement, moving the project closer to the drilling stage. The permitting process is being carried out by Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK), which entered the project in late 2023 through an option and joint venture agreement with Condor. Under that agreement, Teck can earn a 55% interest in Cobreorco over three years following the permit issuance by spending $4 million on exploration and paying another $500,000 in cash. The Canadian miner would also take over technical, social and environmental programs at Cobreorco. Upon exercising this option, the companies will then form a joint venture, after Teck can increase its stake in the project further to 75% by spending an additional $6 million in exploration and making another cash payment of $600,000. “We are very pleased to have reached this important milestone with Teck,” Condor’s CEO Chris Buncic commented. “Projects of this scale and quality are exceedingly rare, and we are only at the beginning of what we believe will be an exciting journey with our partner.” The EIS approval from the Peruvian Ministry of Energy and Mines represents the first key step to obtain surface drilling permits for the project. Dialogue with two local communities remains ongoing to complete the process. Shares of Condor Resources gained 10% to C$0.11 by midday Friday, taking its market capitalization to C$16.5 million ($12.1 million). Porphyry-skarn system The Cobreorco property, located in the province of Andahuaylas, is host to several porphyry and skarn-related copper and gold deposits that are exposed in outcrops and small-scale artisanal workings within a 2-sq.-km area. Condor entered the project in 2018 by winning a sealed bid auction to the first 1.7 sq. km of the property. Over the subsequent years, it accumulated more land through staking, bringing the project area to a total of 50 sq. km. Meanwhile, the company has conducted several sampling programs on the property. An analysis showed that a third of the channels tested contained more than 1,000 ppm copper, and nearly half contained at least 100 ppb gold. A drone-supported magnetic survey was done in 2020, and the initial review of the data suggests the presence of two potential intrusive systems that correlate with exposed surface copper-gold porphyry and skarn outcrops. The results of the magnetic survey sampling and analysis demonstrate a substantial target of 2.5 km in lateral extent and potentially very shallow, similar in geometry to the Tintaya mine owned by Glencore about 300 km to the southeast, Condor said. Condor’s geologists also compared the mineralization to that at Las Bambas, the large copper porphyry with skarn overprinting 50 km to the east.

Ethereum faced intense selling pressure earlier today as geopolitical tensions flared following Israel’s attack on Iran, shaking global markets and triggering risk-off behavior across crypto. The sudden spike in volatility pushed Ethereum away from its recent highs, as it retraced after failing to break above the critical $3,000 resistance level. This marks a pivotal moment for ETH, which had shown strong momentum in recent sessions before being hit by the broader market downturn. Despite the sharp correction, top analyst Quinten Francois remains optimistic. He pointed to the ETH/BTC pair, which continues to look strong relative to other assets. According to Francois, this pair is currently testing the support line of an ascending triangle—a pattern that often precedes a breakout to the upside if support holds. With Bitcoin holding near its range highs, Ethereum’s performance against BTC could serve as a leading indicator for the broader altcoin market. Now, Ethereum stands at a crossroads. A bounce from current levels could renew bullish momentum and re-establish the $2,800–$3,000 range as the launchpad for higher prices. But failure to hold support may trigger another wave of downside pressure. All eyes are on ETH/BTC as markets brace for what comes next. Ethereum Holds Key Level Against BTC Ethereum has been leading the crypto market with impressive strength since April, posting a remarkable surge of over 100% from its lows near $1,400. This steep recovery highlights Ethereum’s growing momentum, positioning it as a potential frontrunner in triggering the next altseason. The asset’s consistent performance above key support levels and its resilience during market dips have renewed bullish sentiment, with traders increasingly focusing on ETH as the key asset to watch. Many analysts believe Ethereum could be the spark that reignites capital rotation into altcoins. Its breakout from a month-long range, combined with increasing DeFi activity and improving on-chain metrics, has added to the bullish case. However, caution remains. Ongoing geopolitical tensions—particularly the recent escalation between Israel and Iran—are injecting volatility into global markets, including crypto. These developments have disrupted otherwise promising technical setups across the board, leading to uncertainty and risk-off sentiment. Quinten Francois commented on the current climate, noting that “some charts don’t look good, others are holding on by a thread.” However, he singled out the ETH/BTC pair as a relative strength signal, stating that it “still looks good.” This pair is currently testing the support line of an ascending triangle—a structure that, if defended, could pave the way for a continuation of ETH’s dominance over Bitcoin. In this environment, Ethereum’s performance—especially relative to BTC—could determine the broader market’s next phase. If ETH/BTC holds and breaks higher, the door opens for a full altseason run. But a failure to hold could reinforce caution and signal a pause across the crypto market. For now, Ethereum remains the most important chart to watch. ETH Faces Sharp Rejection After Tagging Range Highs Ethereum is facing a crucial technical test after a strong rejection near the $2,830 resistance level. The chart shows ETH failing to hold above the highlighted supply zone between $2,700 and $2,830, where sellers stepped in aggressively. This resulted in a sharp breakdown that sliced through the 50, 100, and 200 simple moving averages (SMAs) on the 4-hour timeframe, now positioning ETH around $2,512. What’s more concerning is the spike in volume during the breakdown. This confirms the strength behind the move, signaling panic among bulls and potential distribution by short-term holders. ETH is now holding just above a previous support zone from early June, but the current setup suggests uncertainty and risk of further downside. Unless Ethereum can reclaim the $2,600–$2,620 area soon, the next likely target could be the $2,400 level, where the next strong demand cluster sits. However, if bulls defend current prices and manage a quick recovery back above the SMAs, this recent move could be interpreted as a liquidity sweep before continuation. Featured image from Dall-E, chart from TradingView

Market movements during risk-off events can be particularly challenging for traders, underscoring the critical need for thorough preparation, both in terms of chart levels and mental fortitude, to effectively navigate this volatility. US stock indices are currently paring their overnight declines, though prices have yet to reclaim their previous day's highs. This rebound follows the release of better-than-expected University of Michigan consumer sentiment data, which came in at 63 against an expectation of 53.5 (up from last month's 52.2 reading). Notably, year-ahead inflation expectations were revised down significantly, from 6.6% last month to 5.1%. In the commodities complex, Oil and Natural Gas are consolidating at higher levels, though off their overnight peaks. WTI crude, after surging by as much as 10.85% in the overnight session, has since seen a correction. Broader energy commodities are currently trading with gains of approximately 5% on the session. Gold although off its overnight highs, hasn't corrected as much as other assets. The precious metal, which in the past few weeks is the best instrument to measure market sentiment, is trading around 3,420 as we speak. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Gold extended its rally on Friday as investors fled to the precious metal following Israel’s attack on Iran, re-igniting fears of a broader conflict in the Middle East. Spot gold gained as much as 1.8% to $3,446.86 per ounce, the highest since its record-setting rally in mid-April. By 10:45 a.m. ET, it had pared some gains, up 1.5% at just under $3,436 an ounce. Meanwhile, US gold futures added 1.6% to trade at $3,456.10 an ounce in New York. According to Daniel Pavilonis, senior market strategist at RJO Futures, the Israeli strike on Thursday evening caused “a little bit of geopolitical scare” in the market. “Prices will stay elevated in the anticipation of what is to come, the retaliation by Iran,” he predicted. “The risk of Iranian retaliation, including threats to US bases, adds to the uncertainty and supports haven flows,” Charu Chanana, a strategist at Saxo Capital Markets, told Bloomberg. With the gains, gold is now nearly $60 shy of its all-time high of $3,500.05 an ounce. The yellow metal has rallied more than 30% this year, as investors turned to the safe-haven metal as a hedge against economic uncertainty and geopolitical risks. Friday’s move higher extended a two-day gain for bullion, as weak US inflation and jobs data fueled bets that the Federal Reserve will lower interest rates later this year. “With markets already on edge and risk sentiment deteriorating, gold is likely to stay bid as a hedge — not just against conflict risk, but also a possible spillover into inflation and volatility,” Saxo’s Chanana said. “Gold is probably the best thing that we added to our portfolios in the middle of last year,” Mark Andersen, co-head of global asset allocation at UBS Switzerland AG. “It’s both helping us when we see rising tensions in the Middle East like today, but also weighing against debt fears, inflation fears, etc.” Goldman Sachs recently reiterated its forecast that structurally strong central bank buying will elevate gold prices to $3,700 by the end of 2025 and $4,000 by mid-2026. Bank of America also sees a path toward $4,000 over the next 12 months. (With files from Bloomberg and Reuters)

According to CNBC’s Power Lunch, Galaxy Digital CEO Mike Novogratz thinks Bitcoin could climb all the way to $1 million per coin if big institutions keep piling in. The cryptocurrency hit a weekly peak of $110,290 on Tuesday. It slipped 4.5% to $104,300 by Thursday, but it’s still climbed 1.75% over the past seven days. Novogratz says this isn’t just hype. He points to firms moving cash from dollars and gold into crypto. Institutional Moves Up Demand BlackRock’s iShares Bitcoin Trust (IBIT) went live in January 2024 after SEC approval. Based on reports, that fund now gives big investors a straightforward path to own Bitcoin without buying coins directly. BlackRock manages about $11.6 trillion in assets. When a player that size steps in, others notice. Novogratz says wealth managers and pension funds have started treating Bitcoin like a macro asset, on par with gold and the S&P 500. Growing Corporate Interest Treasury companies are adding Bitcoin to their balance sheets. Sovereign wealth funds have begun to follow suit. Retail investors keep buying, too, thanks to easier trading apps and ETFs like IBIT. A handful of public companies have raised millions to buy Bitcoin outright. According to filings, Metaplanet, the Blockchain Group, GameStop, and US President Donald Trump’s Media arm all announced major purchases this year. Their moves chip away at the 21 million-coin supply, making each remaining Bitcoin scarcer. Bitcoin Versus Gold Bitcoin’s 21 million supply cap is hard-wired into its code. Gold, by comparison, has a market worth north of $12 trillion and sees about 1–2% new supply each year through mining. Novogratz argues that younger investors will choose a capped digital asset over a metal bar. That switch isn’t guaranteed, but once people see Bitcoin as a store of value, its appeal could grow. At today’s $2 trillion market cap, Bitcoin has room to expand many times over if it ever rivals gold. Challenges Ahead Regulators remain a wildcard. The SEC green-lit IBIT, but future rules on taxes or derivatives could slow things down. Bitcoin’s price swings make it riskier than bonds or gold. Institutions often chase stable returns, and Bitcoin pays no dividends or interest. Finally, moving another $10 trillion into crypto would need a massive shift in asset allocations. That kind of inflow isn’t impossible, but it won’t happen overnight. Based on reports, Novogratz sees Bitcoin’s march toward gold’s market cap as a “ball rolling down a hill.” He predicts that, over time, Bitcoin will match gold and then outpace it. Featured image from Imagen, chart from TradingView

The evolving role of the US Dollar as a Safe-Haven While the US Dollar has not consistently acted as a primary safe-haven currency since the beginning of 2025, it remains crucial to observe where major players turn to secure their funds during periods of acute market distress. As a brief reminder, safe-haven assets are those that attract significant demand during economic downturns, banking crises, or major geopolitical turmoil. Capital typically flows into these assets, reducing exposure to market risks. This category includes assets like Gold and sovereign bonds, such as US Treasuries. The increased demand for these bonds, particularly during flight-to-safety events, drives their prices up and yields down, which can also trigger the unwinding of carry 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The 2025 State of Crypto Summit, hosted by Coinbase, is a landmark event. Held in New York City, it brought together over 400 leaders from finance, tech, and regulation. The summit’s focus was on shaping the future of cryptocurrency, with key announcements and discussions on industry trends. Several significant announcements emerged from the summit, from Coinbase’s newly introduced One Card to regulatory clarity for future trading, aligning with Coinbase’s strategy to expand and integrate the Base ecosystem with traditional financial systems. Regulatory Clarity and Future Trading: A critical discussion point was regulatory clarity, with 90% of Fortune 500 executives agreeing it’s essential for innovation. GENIUS Act, or the stablecoin bill, was also mentioned as a potential step forward. It is reported that Coinbase plans to launch CFTC-compliant perpetual futures trading in the US. This will expand its derivatives offerings while ensuring regulatory compliance, a move announced during the summit. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Major announcements from the 2025 State of Crypto Summit. What to expect next? The post The Future of Money by Coinbase: 2025 State of Crypto Summit Reveals Game-Changing Moves appeared first on 99Bitcoins.

The XRP price could be preparing for its biggest rally yet, as a crypto analyst now points to a potential breakout that could send this altcoin soaring. After weeks of stabilization and momentum building, XRP is now testing key resistance levels, with the daily timeframe hinting at a possible surge above $2.33. XRP Price Gears Up For Major Breakout Dark Defender, an X (formerly Twitter) crypto analyst, has revealed in a recent analysis that XRP appears to be setting the stage for a significant price shift, with its daily chart signaling a possible upward breakout. After weeks of consolidation below a descending trendline, the altcoin is now approaching a critical level that could become the trigger point for rapid momentum growth, if confirmed. Currently, the daily timeframe shows XRP testing a long-term downtrend line that has consistently rejected upward movements since early 2025. This resistance level, marked clearly on the analyst’s chart, hovers just above $2.3. Dark Defender has indicated that a daily candle close above $2.33 could effectively invalidate the downtrend and signal a breakout that may lead to further upside. Notably, the analyst’s 1-day XRP price chart shows an explosive move toward a new high of $3.39—a level not seen since the 2018 bull cycle. With XRP currently trading at $2.1, a successful rally to this bullish target would represent an impressive 61.43% surge in value. Such a move would not only break XRP out of its current consolidation phase but also confirm the emergence of a sustained uptrend. Moreover, if momentum persists, it could set the stage for even higher price levels. RSI And EMA Signals Defend XRP’s Bullish Thesis Supporting Dark Defender’s technical analysis and bullish scenario for the XRP price is a rising Relative Strength Index (RSI), which has broken above a descending trendline and continues to trend upward. This shift suggests that XRP is building momentum as buyers finally regain control. Additionally, the analysis shows that price action remains above key Exponential Moving Averages (EMA), which are beginning to curl upward, signaling that the market trends could be turning in favor of the bulls. Although the Ichimoku Cloud technical indicator is not visible on the chart, Dark Defender notes that it is expected to flip bullish soon, further reinforcing XRP’s bullish thesis. Combined with the support held above the 200-day EMA, highlighted by the blue line on the chart, XRP appears to be entering a favorable technical zone. If price action aligns with the analyst’s projected setup and manages to hold candle closes above $2.33, it could mark the beginning of a stronger uptrend. Dark Defender also notes that “XRP’s slingshot pressure” is intensifying rapidly, further boosting the potential strength of the upcoming bullish wave.

Should we sell before the weekend? Bitcoin stumbled to $103,900 before rebounding to $105,000 as news broke of Israeli airstrikes hitting Iranian nuclear and missile facilities, including those in Tehran. The escalation marks one of the most direct confrontations in years. Prime Minister Netanyahu declared that the strikes won’t stop “until Iran’s nuclear ambitions are completely dismantled.” Israel just nuked my alts. How do I report a war crime? More importantly, is a retaliatory strike going to destroy your net worth over the next two days? BitcoinPriceMarket CapBTC$2.09T24h7d30d1yAll time Sell Before the Weekend? Bitcoin Reacts to Heightened Geopolitical Uncertainty Markets don’t wait for missiles to land. As Israel strikes Iranian nuclear and missile sites, Bitcoin tumbled to $103,162 before clawing back slightly, still 2% in the red over the past 24 hours. The message was clear: global investors are bracing for escalation, dumping risk as war drums beat louder. Prime Minister Netanyahu doubled down, calling the campaign “vital to Israel’s survival.” “This operation is vital to Israel’s survival. We are systematically targeting Iran’s nuclear and missile infrastructure to eliminate the threat.” Israeli airstrikes on Tehran, deemed unlikely on Polymarket just days ago, wiped out bullish positions across prediction markets. Now the real gamble is whether we’ll fall further. Iran’s prior assault didn’t result in Israeli casualties, but this time, it’s different. Tehran was hit directly, marking a dangerous new phase in the conflict. In crypto terms it might be time to keep the dry powder dry. The risk-on appetite is gone, and any talk of an altseason looks postponed for now. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Should we sell before the weekend? Bitcoin stumbled to $103,900 before rebounding to $105,000 In crypto terms it might be time to keep the dry powder dry. The post Sell Before The Weekend? Bitcoin Slides to $103,900 Amid Escalating Tensions Between Israel and Iran appeared first on 99Bitcoins.

The Hash Ribbon “buy” trigger – a signal embedded in Bitcoin’s network hashrate dynamics – has flashed again, and technical analyst Astronomer Zero believes it could pave the way to at least $170,000 per coin. A chart the analyst posted on X on 12 June overlays every prior weekly‐time-frame Hash Ribbon entry since 2020 on the BTC/USDT perpetual contract at Binance, illustrating why the signal is treated with almost talismanic respect by some quantitative traders. Bitcoin Surge To $170,000 Imminent? The graphic shows five earlier occurrences of the capitulation-to-recovery crossover embedded in the Hash Ribbon algorithm. Each is marked on the price pane by a cobalt-blue “Buy” dot directly beneath the weekly candles and linked to the ensuing rally by a violet measuring arrow. After the signal in late-2020, Bitcoin accelerated by 235% from the $18,000 consolidation floor to challenge the then-all-time-high zone just above $60,000 before any major pull-back unfolded. Mid-2021’s ribbon event proved more modest – roughly 59% from a $30,000 base into resistance near $48,000 – yet it still respected the rule that the market rewards the crossover with significant upside. The next two signals, printed in late-2022 and early-2023, were far stronger: a 260% surge from the capitulation trough below $18,000, followed by a 175% leg in mid-2023 that carried price cleanly to the long-standing supply shelf in the $60,000 area. In mid-2024, the hash ribbon signal led to a 100% rally above $100,000. Most recently, the ribbon crossed again three weeks ago, with Bitcoin quoted at roughly $105,000 on the weekly close. The analyst annotates current price at $106,873 and draws a fresh horizontal barrier at the $160,000–$165,000 band – the level that would align with the mean magnitude of earlier post-signal advances. Were the market merely to match the smallest historical percentage move (≈ 60%) from the present crossover, spot would extend to the $170,000 region indicated in crimson on the chart. Hash Ribbon logic is mechanical. When the 30-day moving average of network hashrate climbs back above the 60-day average after a period of miner capitulation, on-chain observers read it as an all-clear that forced selling pressure has exhausted. In the past, that transition has coincided with aggressive spot accumulation visible on-chain and in derivatives positioning. Sceptics will note that correlation is not causation and that a six-figure quote for Bitcoin already bakes in ETF inflows, a looming halving supply shock and a global liquidity cycle that could yet tighten. Still, Astronomer Zero’s chart underscores an objective fact: in the last half-decade the Hash Ribbon “buy” has never mis-fired. Whether history’s rhythm repeats or merely rhymes, traders are watching the $170,000 level marked on the chart as the next test of that record. At press time, BTC was down 3.1% over the past 24 hours, trading at $104,898.

At Dutch Blockchain Week 2025, Thierry Baudet, the face of the Forum for Democracy (FvD), charted an ambitious roadmap for a blockchain-driven future. His vision cuts out conventional banking systems, offering instead a financial ecosystem untethered from state control. From directly handling salaries in crypto to streamlining everyday purchases, Baudet painted blockchain as more than innovation—it’s a revolution in how people engage with their money. BitcoinPriceMarket CapBTC$2.09T24h7d30d1yAll time Championing Freedom at Dutch Blockchain Week Baudet’s presence at Dutch Blockchain Week, held from May 19 to 25 in Amsterdam, sent a strong message that crypto is more than a speculator’s game. “I want to support the community—from programmers to startups,” Baudet declared. “Blockchain can free people from central banks and government control.” Yet, the question remains whether the vision aligns with Europe’s strict regulatory landscape. Baudet called on both politicians and startups to advance the crypto space. “Stop seeing crypto as gambling or crime,” he urged, describing it as an opportunity to propel the Netherlands forward. His advice to startups was equally clear. “We need companies like Monflow connecting crypto to everyday life,” he emphasized. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways At Dutch Blockchain Week 2025, Thierry Baudet, the face of the Forum for Democracy (FvD), charted an ambitious roadmap for a blockchain-driven future. Yet, the question remains whether the Netherlands can become a crypto capitol with Europe’s strict regulatory landscape. The post Thierry Baudet’s Crypto Vision Sparks Debate at Dutch Blockchain Week appeared first on 99Bitcoins.

One of the longest-running lawsuits in the crypto landscape could potentially come to a close as both parties seek to settle their disputes. Ripple and the US Securities and Exchange Commission (SEC) have jointly proposed to settle their $125 million civil penalty. According to the court filings shared by Fox Business journalist Elanor Terett on 12 June 2025, both parties have sought to settle Judge Analisa Torres’s final judgment before the 16 June deadline. The court filings suggest that both parties have asked a Manhattan court to release the $125 million held in escrow and to also dissolve the previously issued injunction. As per the proposal, the SEC would be paid $50 million while the rest ($75 million) would be returned to Ripple. This is the second settlement attempt by the parties after Judge Analisa Torres rejected their first motion to settle on 15 May. During the hearing, she stated, “If jurisdiction was restored to this Court, the Court would deny the parties’ motion as procedurally improper.” Explore: Best New Cryptocurrencies to Invest in 2025 Key Takeaways Ripple and the SEC have jointly proposed to settle their $125 million civil penalty According to the settlement proposal, the SEC will receive $50 million and Ripple $75 million This is their second settlement attempt after Judge Analisa Torres rejected their first motion to settle on 15 May The post Ripple and the SEC File a Joint Motion to Settle the $125M Lawsuit appeared first on 99Bitcoins.

US Treasury Secretary Scott Bessent told lawmakers that dollar-pegged stablecoins could swell to more than $2 trillion in the next few years. He spoke at a Senate hearing this week. His outlook came as Congress moved to set new rules on how these tokens must be backed. Growth Forecast Details According to Bloomberg, Bessent said a leading industry group expects the stablecoin market cap to top $2 trillion. He called that view “very reasonable.” It would mean backing up to $2 trillion in tokens with US Treasury Bills. Based on reports, Citigroup analysts think issuers might buy an extra $1 trillion in those bills by 2030. Backing Rules Move Forward Lawmakers voted to advance a key amendment to the GENIUS Act, which would force stablecoin issuers to hold reserves in top-tier assets. The amendment won cloture yesterday. That clears the way for a final vote, likely early next week. Supporters say the change will boost confidence by ensuring every dollar-linked token has real backing. Market Size Today Right now, the total stablecoin market sits at about $255 billion. Dollar-pegged coins make up roughly $233 billion of that. That equals 90% of the whole market. The top nine dollar-pegged coins include USDT, USDC, USDe, DAI, USD1, FDUSD, PYUSD, TUSD, and USDD. They account for nearly all stablecoin activity. Challenges Ahead Regulators have work to do. If the GENIUS Act stalls or changes, issuers might head to friendlier markets. There’s also a risk that a handful of big players could dominate. That could create new “too big to fail” worries if a major issuer faces trouble. Plus, tech glitches and smart-contract bugs could still trigger runs on tokens. If stablecoin use really takes off in cross-border payments and decentralized finance, the US dollar could win new fans overseas. Every $1 trillion in token issuance backed by Treasury Bills might add to demand for US debt. But the path isn’t guaranteed. Lawmakers must iron out rules that balance safety with innovation. Issuers need strong risk plans. And users must see clear benefits beyond speculation. For now, the market is small compared with the broader financial system. But the shift toward programmable money keeps pace. Featured image from Sygnum Bank, chart from TradingView

After hitting $110,450 on Monday, the Bitcoin price is writing its third consecutive red day as the benchmark cryptocurrency fell 5.3% from an intra-day top of $108,450 to a trough of $102,664 before clawing back to about $104,456 by press time. The sell-off coincided, almost minute-for-minute, with confirmation that Israel had conducted large-scale air-strikes on Iranian nuclear installations, sending ripples through every major asset class. Why Is Bitcoin Going Down Today? Israel’s pre-dawn operation — its first overt attack on Iranian territory since the October-2024 raids — instantly repriced global risk. Oil futures jumped more than 10%, spot gold printed a fresh record high above $3,400 an ounce, and US equity futures slid roughly 1.5%. Bitcoin’s draw-down resembled its initial reaction to Iran’s failed missile barrage on Israel in April. “Oil up. Gold up. Bitcoin down,” Anthony Pompliano wrote on X, noting that the pattern echoes April’s missile incident, after which “Bitcoin ended up outperforming the other two over the first 48 hours.” Bitcoin educator Peter Duan argued in a separate post that “a dip in Bitcoin happens every time there is serious geopolitical [turmoil] … In the long run, this will only push more people to Bitcoin,” pointing to the 24/7 nature of crypto trading versus the still-closed equity cash markets. Macro strategist Joe Consorti drilled down on the mechanics: “Bitcoin, S&P and NDX are all being panic-sold. Crude oil, natural gas, gold and US Treasuries are all spiking higher. The flight to safety trade is here.” A fresh surge in crude is precisely what US policymakers did not need. West Texas Intermediate vaulted past $77 a barrel—its first visit to that level in four months—after Israel struck Iranian nuclear facilities, erasing much of the hard-won disinflation dividend and dragging energy back to centre stage. The contract is now more than $21 above its April trough, threatening to unwind the benign price trends that had been taking hold. This comes after US inflation data once again surprised to the upside this week. May’s Consumer Price Index rose just 0.1% on the month and 2.4% year-over-year, while core CPI matched that modest 0.1% gain and held at 2.8% on an annual basis. Producer prices told a similar tale on Thursday, with the headline PPI up only 0.1% month-over-month and 2.6% on the year, both below consensus expectations. Lower fuel costs had been a cornerstone of President Trump’s strategy for reining in inflation; the renewed march higher in oil now threatens that narrative. If energy continues to climb, markets will anticipate a rebound in headline inflation and the Federal Reserve may feel compelled to postpone the rate-cut cycle traders had pencilled in for September. Bitcoin, which is acutely sensitive to fluctuations in global liquidity, often underperforms when the policy outlook tilts toward tighter financial conditions—explaining its abrupt slide alongside the spike in crude. The newsflow triggered one of the heaviest forced-liquidation washes of 2025. CoinGlass data show that roughly $1.14 billion in crypto futures positions were wiped out over the past 24 hours, $1.04 billion of which were longs, as 236,788 traders were forced out of the market. The single-largest hit was a $201 million BTC-USDT long on Binance, the biggest one-ticket liquidation since January. For Bitcoin alone, long-side liquidations totalled $443 million. For the entire crypto market, this is the worst wipe-out since the post-tariff rout of February 3, when $1.25 billion was liquidated across the complex.

Canada’s Dundee Precious Metals (TSX: DPM) is acquiring UK-based Adriatic Metals (LON: ADT1) in a cash-and-stock deal worth $1.25 billion, marking the latest in a wave of foreign takeovers targeting British companies. The deal gives Dundee control of Adriatic’s flagship Vareš silver-zinc mine in central Bosnia, along with the Raška zinc-silver project in Serbia. Already active in the Balkans, Dundee sees the new assets as a strategic fit that will expand its production pipeline and diversify cash flow. “The Vareš is a logical fit with our portfolio, and adds near-term production growth and mine life, a highly prospective land package, and cash flow diversification,” chief executive officer David Rae said. Adriatic shareholders will receive 268 pence per share, made up of 93 pence in cash and 0.1590 new Dundee shares. The offer represents a 50.5% premium to Adriatic’s closing price of 177.8 pence on May 19, the last trading day before it confirmed takeover talks with Dundee. After completion of the transaction, Dundee shareholders will hold about 75.3% of the combined mining company, with Adriatic shareholders owning 24.7%. Dundee has secured voting support from Adriatic directors and major shareholders representing 37.2% of Adriatic’s shares. Adriatic CEO Laura Tyler said Vareš remained on track to become a low-cost producer, supported by a high-grade deposit, long mine life and strong exploration upside. Tyler and chief financial officer Michael Horner will exit after the deal closes, and all Adriatic directors will step down. Tyler and CFO Michael Horner will step down following the completion of the deal, with all Adriatic directors set to leave the board. The merged company will keep its global headquarters in Toronto, while Adriatic’s UK office will shut down. Adriatic shares surged on the news, trading 4% higher in London mid-afternoon at 250.5 pence each, lifting the company’s market value to nearly £862 million ($1.2 billion). The deal caps a week of intense dealmaking in London, reflecting growing foreign interest in UK-listed assets.