21Shares’ Hyperliquid ETF debuted in the US to a “very solid day” of trading, despite volumes being below comparatively buzzy crypto ETF debuts.
Open Standard's new Open USD stablecoin seeks to challenge USDC and USDT by allowing partner businesses to mint/redeem for free and share reserve earnings. This model, backed by over 140 businesses including Visa and Mastercard, aims to incentivize holding and lending, potentially shifting liquidity from established stablecoins despite regulatory 'gray zone' concerns.
Bitcoin hovers around $60,300, facing a divided market. Retail investors are pulling funds, with $4.4 billion exiting US spot Bitcoin ETFs in June, while institutions remain on hold despite discounted valuations. Leverage unwinds orderly, but a price break below $58,800 could trigger further selling.
Ripple has received preliminary approval as a Crypto-Asset Service Provider from Luxembourg’s CSSF via a conditional Green Light Letter. Combined with its February EMI license, the approvals position the company inside the MiCA framework for passporting across the EEA ahead of the July 1 full authorization deadline.
Eight-year-old Ether wallets have become active, moving significant amounts of ETH for the first time since 2017. This adds to market supply as ETH trades near $1,500, while other large investors continue to accumulate, creating mixed market signals.
An Ethereum whale, known for shorting ETH during the October 2025 crash, has opened a $19.72 million 20x ETH short near the $1,500 support zone after an eight-month absence. The position could yield $2.39 million if ETH drops to $1,375, but a potential double bottom pattern near $1,500 poses a risk.
Bitcoin struggled to reclaim $60,000 on Friday, marking its first daily close below this level since September 2024, as global market volatility, particularly in Asian tech stocks, and rising US inflation concerns weighed on risk assets.
