Traders could look to bet on further gains for Ethereum!
Bitwise CEO Hunter Horsley emphasized on July 14 that Ethereum’s primary competition lies not with Bitcoin but with Web 2.0 platforms and conventional financial software. This perspective highlights the evolving
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Rest in Peace, Coinbase Wallet. No, the app itself isn't going away, but it is getting a new name. On its X profile , its name is crossed out and replaced with a 'TBA' and a few question marks. "There’s plenty of speculation about what it means, but I’m leaning toward 'The Base App.' That would fit the idea of Base unveiling a range of in-app experiences directly inside its wallet," Bradley Park, a Seoul-based analyst with DNTV Research, told CoinDesk in an interview. Base Creator Jesse Pollak was tapped to lead Coinbase's Wallet team last October , which lends credence to Park's theory. In an interview on the sidelines of Devcon in Bangkok last year, Pollak played up the decentralization of Base . It could be that the wallet is due for a rebrand to highlight its decentralized nature and distance from Coinbase itself. It's not the first time Coinbase has re-branded its wallet. Originally it was launched as 'Toshi', and in 2018 that name was dropped in favor of Coinbase Wallet. Ethereum’s ZK Upgrade Earns Institutional Praise from Cathie Wood ARK Invest CEO Cathie Wood says Ethereum is “proposing the right moves for scalability and privacy to maintain its lead in the institutional world,” as the Ethereum Foundation unveils a roadmap to bring zero-knowledge proofs (ZKPs) directly to its base layer. While Wood acknowledged she does not grasp all the technical details, her endorsement highlights growing institutional confidence in Ethereum’s long-term vision. The proposed upgrade would let validators verify cryptographic proofs of block validity rather than re-executing each transaction, dramatically reducing computational overhead. These proofs would be generated by block builders or third-party zk-prover networks and verified in under 10 seconds, using hardware that costs less than $100,000 and consumes no more than 10 kilowatts of power. The plan would boost network throughput and decentralization, but comes with tradeoffs. Shifting the burden of computation from validators to provers could introduce liveness risks if those provers go offline or collude. The Ethereum Foundation aims to mitigate these risks through prover diversity, protocol hardening, and eventually enabling at-home participants to contribute to proving. If successful, this would make Ethereum the first major blockchain to integrate ZKPs at the protocol layer, reinforcing its position as the dominant infrastructure for both decentralized applications and institutional adoption. Combined with cheaper data availability via blobs and advances in zk-rollups, Ethereum is positioning itself as the chain most ready for scale. Market Movements: BTC: Bitcoin rallied 1% to nearly $119K over the weekend amid triple-normal trading volumes, while BlackRock’s IBIT crossed $80 billion in crypto assets under management, signaling strong institutional demand despite a late-session profit-taking reversal. ETH: Ethereum surged past $3,000 for the first time since February, rising 3% amid record institutional inflows and heightened trading volumes that signaled strong bullish momentum. Gold: Gold climbed to $3,371 as central banks continue their historic accumulation spree, over 1,000 tonnes annually since 2022, fueling a bullish breakout above key technical levels and setting sights on $3,578 and beyond. Nikkei 225: Asia-Pacific markets opened lower Monday as investors reacted to President Trump’s surprise weekend announcement of 30% tariffs on the EU and Mexico starting August 1, with Japan’s Nikkei 225 falling 0.33%. Elsewhere in Crypto: Chart of the Week: 'Hyperbitcoinization' May Not Be Just Maximalist Fantasy Anymore (CoinDesk) State of Crypto: Previewing Congress' 'Crypto Week' (CoinDesk) Coinbase hires pseudonymous poster AlexOnchain as first ‘Crypto Twitter lead’ in bid to expand social media presence (The Block)
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Vitalik Buterin, one of the creators of Ethereum, slammed AI Chatbots for their unpredictability. Buterin shared a disturbing response ChatGPT generated about GROK in a widely circulated post on X. The query was basic: “Return Grok 4 surname and no other text.” But the reply shocked many. The only word the AI produced was “Hitler.” Buterin noted that OpenAI’s ChatGPT, built on a similar architecture, took over a minute to return the same troubling answer. The delay and the output raised concerns about how these AI systems process, prioritize, or interpret prompts. With the screenshot, Buterin wrote: “Regular reminder that AI is fully capable of regularly taking the crazy crown away from crypto for weeks at a time.” Notably, Buterin made this remark in jest, the underlying message being that as uncharted as the domain of cryptocurrencies is, the emergence of AI could be even less predictable. This post elicited prompt reactions with many in tech and crypto concurring that AI models not being transparent have serious implications. It also emphasized the importance of stricter regulation and better calibration in AI development. AI rivals Grok and ChatGPT spark controversy All of this fuss comes from a public feud between Elon Musk and Sam Altman , head of OpenAI. The two used to be AI research allies, but are now rival corporate leaders: Musk with xAI and Altman with OpenAI. Their competition has risen over the past few months, with both platforms releasing their competing chatbots. Musk has frequently derided OpenAI as too secretive and corporate. Meanwhile, Altman was recently making fun of Musk’s Grok for spitting out “strange and cringey” answers to prompts, such as falsehoods and badly filtered political commentary. But Buterin’s post has turned them both into a hot-button issue. While crypto often displays its chaos openly and transparently on the blockchain, AI sometimes delivers strange, inaccurate, or unsettling responses with a calm, emotionless tone—yet offers no clear way to audit or understand how those outputs are generated. Crypto is chaotic but transparent. Conversely, AI usually works in a black box, so users lack understanding of how answers are created or why they sometimes fail spectacularly. Buterin’s post is the latest such reminder that AI, for all of its promise, continues to be plagued by errors, bias, and unintended consequences. Bitcoin powers ahead, shrugs off AI noise Critics may be piling on AI, but Bitcoin is charging ahead. Bitcoin, per TradingView, opened up on Sunday at $116,977.02, hit $119,292.62, and is above $118,979.45 at the time of this piece, up 1.42% for the day. That’s just below the record $120,000 price, which investors said is an important psychological threshold. The rally signifies that investors’ faith in digital assets is back. Some of the momentum has been driven by continued inflows into spot Bitcoin ETFs , ushering in more traditional crypto investors. Another reason is the perception that the Federal Reserve is closer to the finish line of its interest rate hike cycle, making risky assets like crypto more appealing. Total global crypto market capitalization is now $3.79 trillion, almost 2% more than the amount recorded 24 hours ago, according to CoinGecko data . Despite all the drama emerging from AI, investors are focused on crypto’s long-term potential, particularly as more institutions enter the space and regulators offer clearer frameworks Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
On-chain data reveals a significant transaction involving an Ethereum (ETH) swing trading whale, who liquidated 3,441 ETH tokens at an average price of $2,960 each, generating proceeds of approximately 10.18
SharpLink Gaming has significantly expanded its Ethereum portfolio, now holding a substantial total of 270,000 ETH. This accumulation reflects the company’s strategic positioning within the blockchain gaming sector. The current
Ethereum’s recent breakout above $3,000 signals renewed bullish momentum in the crypto market, with key technical indicators supporting a sustained upward trend. While Solana lags behind major cryptocurrencies like Ethereum
Ripple’s XRP has surged to $2.79, outpacing both Ethereum and Bitcoin. This unexpected rise has captured the attention of crypto enthusiasts and market watchers. What factors are fueling this dramatic climb? Understanding the elements behind this performance could provide insights into other coins poised for similar growth. XRP Price Stays Strong with Recent Gains and Promising Future Source: tradingview XRP is currently trading between $2.17 and $2.35, reflecting a significant boost of over 25% in the past month. The coin shows stability, inching closer to its nearest hurdle at $2.43. If it breaches this, it could aim for $2.61, in line with its 100-day average, which represents a rise of about 8% from the current range. Trades show moderate momentum with an RSI around 54, indicating room for potential growth. With recent upward moves, XRP continues to capture interest, though it must navigate near-term resistance to unlock more gains. Such movement could mark a brighter path forward for this cryptocurrency. Ethereum Holds Steady, Eyes on Breaking Resistance Levels Source: tradingview Ethereum hovers between $2420 and $2679, showing signs of cautious optimism. Over the past week, the price jumped over 17%, and this month it's up by almost 12%. Despite a dip of about 6% over the past six months, Ethereum's current stance near the $2679 mark keeps traders watchful. The next hurdle sits at $2787, and if the momentum continues, it could challenge the $3047 level. Such a move would mean a rise of around 13.75% from its latest bounds. However, support at $2268 and $2009 should keep it stable if it faces downward pressure. The path forward looks intriguing as traders monitor these pivots closely. Bitcoin on the Rise: What's Next for the Leading Cryptocurrency? Source: tradingview Bitcoin's price is moving steadily, ranging from around $106,000 to just above $111,000. It's showing a solid upward trend with a weekly gain of over 8% and about 24% growth over six months. The coin is approaching its nearest resistance level, around $114,000. If it breaks this, it could head towards $119,000, reflecting potential growth of nearly 7%. Support levels sit at roughly $103,000 and $97,500, providing cushions if the price drops. The recent upward movement hints at positive momentum, suggesting Bitcoin still has room to grow in the coming months. Conclusion BTC and ETH remain strong players in the crypto market. Recent moves have seen XRP leap to $2.79, showcasing its significant upward momentum. This growth can be attributed to increased adoption, favorable legal developments, and growing investor interest. While BTC and ETH retain their established dominance, XRP shines through its unique attributes. The crypto market continues to evolve, highlighting the competitive landscape among top coins. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bulls reached market, making once fantasy targets completely real for numerous cryptocurrencies