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Fed Signals End to Ambiguous Crypto Rules, Clearing Road for Innovation

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Fed Signals End to Ambiguous Crypto Rules, Clearing Road for InnovationThe Federal Reserve is accelerating efforts to eliminate regulatory gray zones, pledging precise digital asset guidance to unlock innovation in crypto and next-gen financial technologies. Fed Targets Ambiguity in Digital Asset Rules as Part of Broader Overhaul Federal Reserve Vice Chair for Supervision Michelle W. Bowman emphasized on June 6 at Georgetown University’s Psaros Center […]

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Hashed Research CEO Appointed Chief Policy Officer at Presidential Office

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Korea’s new President, Lee Jae-myung, has appointed the CEO of Hashed Research, Kim Yong-beom, to be the Chief Policy Officer of Korea’s Presidential Office.

Before leading Hashed Research, crypto fund Hashed’s think tank, Kim was the Vice Minister of Economy and Finance during the Moon Jae-in administration.

In a previous interview with CoinDesk, Simon Kim, the CEO of Hashed, stated that the Lee administration will be crypto-friendly and that local regulators are closely monitoring crypto policy developments in the U.S with an aim to emulate them.

One of the first policy initiatives Kim Yong-beom might be working on is a Won-based stablecoin, which was identified by newly elected President Lee as a priority to “prevent national wealth from leaking overseas.”



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XRP price forecast as Ripple USD (RLUSD) volume drops

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XRP price forecast as Ripple USD (RLUSD) volume drops

  • XRP has rebounded to $2.18, overcoming an hourly death cross signal.
  • The RLUSD volume has dropped over 60% amid halted minting.
  • XRP is likely to trade between $2.15 and $2.25 in the short term.

The price of XRP has shown notable resilience even as broader market sentiment remains cautious.

As of press time, XRP trades at $2.18, reflecting a slight 0.2% increase over the past 24 hours.

The cryptocurrency rebounded sharply after falling to $2.06 on Thursday, recovering most of the intraday losses and closing the trading session with signs of renewed bullish pressure.

Ripple USD (RLUSD) sees a steep volume decline

While XRP has been showing signs of strength, Ripple’s stablecoin, Ripple USD (RLUSD), has suffered a sharp drop in market activity.

The trading volume for RLUSD has declined by more than 60%, plunging to around $42 million according to CoinMarketCap data.

According to market observers, the decline has been attributed to a pause in minting, as Ripple has not issued any new RLUSD tokens in over 41 days. This prolonged halt suggests either a strategic move to limit supply or waning demand for the asset.

The drop in volume has led to speculation about its potential impact on the XRP Ledger ecosystem.

Some analysts argue that lower RLUSD activity could reduce liquidity across decentralised exchanges and decentralised applications built on the XRPL.

Although RLUSD was introduced as a competitor to dominant stablecoins like USDT and USDC, the recent decline hints that user adoption may be stalling.

However, XRP has remained relatively insulated from this downturn, largely due to its broader utility in cross-border payments and remittances.

Despite the interconnectedness of the two assets within Ripple’s ecosystem, XRP’s price dynamics appear to be decoupling from those of RLUSD.

This separation reinforces the view that XRP’s valuation is being driven more by investor sentiment and trading activity than by RLUSD’s performance.

XRP price prediction

Over the last seven days, XRP has hovered within a tight range of $2.09 to $2.28, suggesting a consolidation phase.

Notably, it has registered a 313.9% gain year-on-year, a strong signal of underlying investor confidence.

Despite a “death cross” formation (the SMA 50 went below the SMA 200) on the hourly chart—a technical pattern typically interpreted as bearish—XRP defied expectations and staged a reversal.

XRP bulls, undeterred, successfully defended key support levels and ignited a recovery that coincided with an over 70% surge in trading volume, which reached $3.5 billion within 24 hours.

Death cross on the hourly XRP price chart

The strong volume support underscores that buyer interest remains active, even amid mixed technical signals.

Looking ahead, XRP’s price outlook presents a balanced mix of caution and optimism.

On the hourly chart, the asset is attempting to break past short-term resistance at $2.19, which aligns with the 200-hour simple moving average.

A successful breakout above this level could pave the way for another test of the $2.28 zone, which marked a recent high.

Failure to close above $2.19, however, may trigger a pullback toward $2.15, a range where XRP has shown stability over the past few sessions.

On the daily chart, XRP recently bounced off the $2.0777 support level, suggesting that bullish sentiment is not entirely exhausted.

Although momentum has slowed, the asset remains within a consolidation channel between $2.15 and $2.25.

Unless sellers gain control, this range-bound behaviour is expected to continue in the short term.

A strong weekly close above $2.25 could revive hopes for a push toward the $2.40 level, which would represent a fresh local high.

XRP price target

In the short term, as long as key support levels hold and volume remains elevated, XRP may continue to trade with a slight bullish bias in the coming days.

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Circle Scores Big on IPO Fever

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It was a week of fortunes made, and fortunes lost, at CoinDesk.

On the one hand, we had Circle, long a leading crypto company, hurtling to IPO and making bank. Its shares were priced at $110 at press time (up from $31 Wednesday), leading many to expect a summer and fall of crypto-themed IPOs.

On the other, we saw HyperLiquid trader James Wynn go from having a $100 million BTC position one day to a massive loss the next. (Kids, beware the big, bad leverage monster).

Most of the market portents looked good, though. Crypto money-raising season was in full swing.

Groups doubled-down on the Bitcoin Treasury Strategy, not least Metaplanet, Japan’s answer to Michael Saylor’s Strategy. Pump.Fun, Solana’s memecoin juggernaut, said it was lining up $1 billion at a $4 billion valuation. One of its children, Fartcoin, surged on rumors of a Coinbase listing.

Crypto technology continued to get integrated into mainstream products. Prediction markets from Polymarket are coming to X and xAI. Uber, Apple, Airbnb and others said they were hoping to combine stablecoins into their payment offerings. Revolut said it would soon offer derivatives. And so on.

Still, Trump and Musk dominated coverage as normal (probably to an unhealthy degree). On Thursday, Trump’s media company Truth Social said it would launch its own Bitcoin ETF. (By Friday, it was set to issue more shares as well.)

The Trump-Musk feud, which also broke this week, highlighted the U.S.’s precarious debt situation (a key driver for bitcoin’s existence). But so far bitcoin, and dogecoin, prices are down on the news. Really anything is possible in the weeks ahead.



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Solana (SOL) Introduces Alpenglow for Faster Blockchain Consensus

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Tony Kim
Jun 06, 2025 16:44

Solana’s Alpenglow aims to revolutionize blockchain consensus with 100x faster finality, replacing Proof of History with Votor and Rotor systems.



Solana (SOL) Introduces Alpenglow for Faster Blockchain Consensus

Solana has unveiled its latest consensus upgrade, Alpenglow, which promises to enhance blockchain finality by a factor of 100. Developed by Anza’s research team, led by ETH Zurich’s Professor Roger Wattenhofer, Alpenglow replaces Solana’s existing Proof of History and Tower BFT systems with new components named Votor and Rotor. According to Sei, this transition aims to achieve deterministic finality in just 100-150 milliseconds under optimal conditions, compared to the current 12.8 seconds.

Technical Innovations in Alpenglow

The core of Alpenglow’s design is its dual-path consensus system, Votor, which allows blocks to reach finality through either a fast path or a slow path, depending on stake approval percentages. This system is complemented by Rotor, which implements a single-hop relay system to reduce network latency and optimize resource utilization.

Alpenglow introduces a novel Byzantine fault tolerance model, termed “20+20”, which can handle up to 20% adversarial stake and an additional 20% of offline validators. This model exceeds traditional systems, which typically manage up to 33% adversarial nodes, providing a more robust consensus mechanism.

Simplification and Performance Improvements

The upgrade reduces the complexity associated with Solana’s former protocols. By eliminating the Proof of History, Alpenglow simplifies consensus mechanics, offering fixed block timing and reducing cryptographic overhead. This change not only speeds up the process but also enhances network stability and security.

Additionally, Alpenglow’s BLS signature aggregation allows for lightweight vote messages and aggregated certificates, significantly lowering validator costs and operational complexity. This reduction in complexity is expected to foster increased decentralization by reducing the financial barriers for validators.

Challenges and Future Considerations

Despite its advancements, Alpenglow faces challenges such as dependency on a single client, Agave, and potential centralization pressures due to geographical performance variations. Moreover, some economic mechanisms, such as reward distribution and penalty enforcement, remain unspecified, potentially leading to ecosystem contention.

Concerns also arise around restructuring the Maximal Extractable Value (MEV) landscape, as the new system may disadvantage independent arbitrageurs while benefiting validators with advanced infrastructure. RPC providers might face scalability challenges due to the new consensus model’s requirements for real-time data freshness.

Solana’s Alpenglow upgrade represents a significant leap towards achieving sub-second finality and reducing validator expenses. However, to ensure a successful transition, Solana must address remaining challenges, including validator economics and scalability concerns, through ongoing research and community collaboration. The success of Alpenglow will depend on balancing speed, security, and decentralization, alongside rigorous development and ecosystem coordination.

Image source: Shutterstock


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Bitcoin nears $105K as Donald Trump demands ‘full point’ Fed rate cut

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Key points:

Bitcoin (BTC) passed $104,000 at the June 6 Wall Street open as strong US labor market data contrasted with fresh calls for interest-rate cuts.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin edges higher as Trump moves to Fed

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD up 2.5% on the day.

Having recovered from snap losses over the ongoing spat between US President Donald Trump and SpaceX CEO Elon Musk, markets digested fresh inflation cues as Trump turned his attention to the Federal Reserve.

Source: Truth Social

“‘Too Late’ at the Fed is a disaster!” he wrote in part of the day’s posts on Truth Social.

Trump is no stranger to criticism of both Fed policy and Chair Jerome Powell, and has frequently demanded interest-rate cuts in 2025 — something that would benefit risk assets and crypto.

“Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great,” he continued, referring to Powell.

“Go for a full point, Rocket Fuel!”

Fed target rate probabilities (screenshot). Source: CME Group

As Cointelegraph previously reported, markets see little chance of cuts coming before the Fed’s September meeting, per data from CME Group’s FedWatch Tool, with Trump’s full point’s worth fully priced out.

The day’s nonfarm payrolls data meanwhile appeared to support the Fed’s current approach, showing a resilient labor market and thus decreasing the need to lower rates.

An official release from the US Bureau of Labor Statistics (BLS) confirmed that “total nonfarm payroll employment increased by 139,000 in May, and the unemployment rate was unchanged at 4.2 percent.”

Analysis warns of Bitcoin “liquidity trap”

Turning to BTC price action, popular trader TheKingfisher returned to order book liquidity for clues as to market direction.

Related: Bitcoin Hash Ribbons metric just delivered its 3rd ‘buy’ signal of 2025

Earlier, Cointelegraph noted various downside price predictions for the short term, with commentators agreeing that BTC/USD could fall below $100,000.

“This $BTC liquidation map (optical_opti timeframe) reveals a massive cluster of long liquidations between ~99k and 102k,” part of an X post read on the day. 

“That’s a huge magnetic zone below current price. In contrast, short liquidations above ~104.5k are minimal.”

Bitcoin exchange order book liquidity data. Source: TheKingfisher/X

TheKingfisher added that the resulting “strong imbalance” of bid versus ask liquidity increased the risk of a liquidity cascade downward.

“Normies see support; we see a liquidation trap,” the post summarized.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.