South Korea is taking a major step toward stablecoin oversight and digital currency development. According to a July 29 report from Yonhap News, the Bank of Korea has announced the installation of a new virtual asset division within its Financial Settlement Bureau. The newly formed division will monitor the broader crypto market and lead internal discussions specifically focused on the development and regulation of Korean won-based stablecoins. As part of a broader organizational shift, the central bank will rename its Digital Currency Research Lab to the Digital Currency Lab starting July 31. This change is intended to reflect a transition from pure research toward more business-oriented development. Additionally, Team 1 and Team 2 of the former Digital Currency Technology Division will be restructured into two new units: the Digital Currency Technology Team and the Digital Currency Infrastructure Team. These teams will focus on privacy-preserving technologies, deposit-token platforms, and testing environments for stablecoin usability. This reorganization signals South Korea’s growing commitment to leading in digital currency innovation. As stablecoins and central bank digital currencies (CBDCs) gain global momentum, the Bank of Korea appears to be aligning its internal infrastructure for a more hands-on, policy-driven role in the future of money. Bank of Korea Signals Stronger Commitment to Stablecoin Development Despite Test Delays A Bank of Korea official recently clarified the purpose behind renaming its Digital Currency Research Lab to the Digital Currency Lab, stating, “We wanted to make it clear that this is not a department that only does research, as there is no other department that uses the word ‘research’ in its name other than the Economic Research Institute.” The change underscores the central bank’s intention to align the unit with broader operational and policy-driven responsibilities. However, the official also noted, “There will not be much change in the original work.” The Digital Currency Lab, which evolved from the Research Department earlier this year, remains at the forefront of South Korea’s central bank digital currency (CBDC) initiatives. One of its key projects is “Project Han River,” a long-term initiative designed to test the real-world usability of a digital won. The first phase of testing concluded successfully at the end of last month, but the second phase has been put on hold. The delay stems from concerns raised by participating banks over the lack of a long-term roadmap and the financial burden of continued participation. Despite the temporary suspension, Bank of Korea Governor Lee Chang-yong emphasized during a press conference on July 10 that Project Han River aims to “safely introduce a won-denominated stablecoin.” He added, “Whether it’s a won stablecoin or a deposit token, digital currency is needed in the future.” This reinforces a key trend in global finance: the accelerating adoption of stablecoins beyond the US. South Korea’s evolving framework highlights the increasing importance of national stablecoin initiatives, particularly as countries seek to modernize payment systems and maintain sovereignty over digital financial infrastructure. USDT and USDC Dominance Holds Near 6% The combined dominance of USDT and USDC currently sits at 5.96%, according to the weekly chart, reflecting a relatively neutral stance in stablecoin capital positioning. After peaking above 18% in early 2022—during a period of heavy risk-off sentiment—the metric has been on a gradual decline, indicating a shift of capital out of stablecoins and back into risk assets. The chart shows that USDT+USDC dominance has consistently struggled to hold above the 50-week (6.57%), 100-week (6.93%), and 200-week (8.38%) moving averages. Recent price action confirms resistance near these levels, with dominance now testing its mid-cycle support around the 6% threshold. This downtrend typically suggests growing risk appetite, as capital rotates out of stablecoins and into volatile assets like BTC, ETH, and altcoins. However, the fact that dominance has not broken below 5% reflects a cautious market that still maintains a strong base of sidelined capital. Featured image from Dall-E, chart from TradingView
The XRP price is gaining traction once again as bullish signals strengthen across the charts. Following a decisive move above a critical support level, the cryptocurrency is now positioned for a potential upward move. A new technical analysis suggests that XRP could climb over 44%, targeting $4.804 in the near term—but only if the support level remains intact. XRP Price To Pump 44% If Support Holds Despite experiencing a pullback these past few days, the XRP price continues to show strong bullish momentum as it aims for new highs. In a recent analysis on X social media, crypto market expert Javon Marks forecasted that XRP may be on the brink of a significant price breakout. Related Reading: XRP Price Forms Double Top, This Structure Says A Crash Is Coming According to his price chart, the cryptocurrency is trading significantly above $2.47, a level that has been confirmed as a key support zone. Marks’ chart shows that this support level was previously a resistance and now serves as a foundation for the next potential leg higher. The expert’s analysis indicates that as long as XRP continues to hold above the support level, the next upward target remains firmly set at $4.804. This level represents a 44% price increase from its current price of $3.12. Notably, the technical setup presented by the analyst includes a consistent trend of higher lows, reinforcing the potential for a larger breakout to unfold. Mark’s chart also outlines an extended target beyond $4.804. If XRP manages to reach and break above this initial level, the analyst projects a potential surge toward $7.138, reflecting an impressive 128.7% increase from current prices. Notably, a possible move above $4 would already mark a new all-time high for the third-largest cryptocurrency—but breaking past $7 would represent a historic rally, indicating a strong continuation of the current bullish sequence. XRP Teeters At $3 After Rejection From Resistance XRP is currently at a critical turning point as price action rejected sharply from the $3.66 resistance level, sliding nearly 11% to test the $3.00 support zone. Based on a technical analysis by crypto expert Gael Gallot, this rejection follows a breakout attempt from a long-form symmetrical triangle stretching back to February. Related Reading: XRP Price Showing Quiet Strength As Next Breakout Level Lies At $4.65 XRP’s daily chart shows its price forming a large ascending triangle pattern, though the recent rejection at the top of the trendline hints at an incoming upward move. Notably, Gallot predicts that a confirmed breakout and retest above $3.3 could ignite the next leg up, with XRP possibly revisiting the $3.66 zone and beyond. The analyst calls this phase a “Pullback or Setup,” highlighting a mix of signals, including a sharp 44% decline in active XRP wallets as whales accumulate over 280 million tokens even as Ripple co-founder Chris Larsen reportedly moved 50 million XRP. Short-term sentiment also appears mixed, with US traders staying cautious while Asian markets show signs of steady accumulation. Featured image from iStock, chart from Tradingview.com
On Wednesday afternoon, at block height 907849, a long-silent bitcoin stash finally stirred. The holder, who scooped up 500 BTC between June 10 and July 31, 2017, moved the coins for the first time in nearly eight years. From $1.3M to $58M: Dormant Bitcoin Awakens in Synchronized Transfers The date is July 30 on a
Cboe and NYSE Arca File Joint Proposal for Crypto ETFs The Chicago Board Options Exchange (Cboe) and NYSE Arca have taken steps to simplify the regulatory framework for crypto exchange-traded funds (ETFs). The two bourses separately submitted rule change proposals to the U.S. Securities and Exchange Commission (SEC) that, if ratified, would allow eligible crypto ETFs to list without separate SEC approvals. Exchanges now must file a 19b-4 form on each new crypto ETF, usually starting a months-long review process. The new proposal would exclude funds that meet specific criteria from this filing requirement . ETF analyst Nate Geraci noted the news on social media, describing the rule change as streamlining the process for approving crypto ETFs and “make the system more efficient and scalable.” Ensuring Crypto Aligns With Traditional Fund Structures The timing of the filings is noteworthy. The SEC just approved in-kind creation and redemptions for crypto ETFs yesterday — a step that aligns the operational dynamics of crypto funds with those of standard ETFs. The change will boost institutional interest and could lower investors’ costs by simplifying fund inflows and outflows. White House Advances Broader Crypto Policy On the same day that the exchange filings were made, a broad proposal was released by the White House through the President’s Working Group on Digital Assets. The 168-page report calls for the harmonization of crypto regulations with traditional finance and eliminating delays that hinder innovation. Some of the important proposals include federal regulations on custody of crypto assets, trading, and registration being made clearer and coordination between the SEC and the Commodity Futures Trading Commission (CFTC). Legislative Momentum Builds The regulatory momentum follows a series of crypto-targeted bills. In July, President Trump signed the GENIUS Act into law, opening the door to stablecoin regulation. The House recently passed both the CLARITY Act and the CBDC Anti-Surveillance State Act, with Senate consideration anticipated after the August recess. All of these advancements represent a coordinated effort to move crypto regulation forward, increase access by investors, and prepare the ground for broader adoption of digital assets in the U.S. financial system.
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ETH onchain data predicts a rally to $4,500, but a bearish RSI divergence warns of a correction in the short term.
Invesco Galaxy has filed a formal application with the U.S. Securities and Exchange Commission (SEC) on the Cboe BZX exchange to create an exchange-traded fund (ETF) based on Solana (SOL). According to Cboe’s filing dated July 28, 2025, the product offered as Invesco Galaxy Solana ETF was requested to be listed and traded under BZX Rule 14.11(e)(4). According to the filing, the ETF's legal structure is structured around a trust fund established in Delaware on June 12, 2025, that will operate as a grantor trust for federal tax purposes. The fund has no fixed expiration date. The ETF's sponsor will be Invesco Capital Management LLC. The filing states that the ETF will be registered with the SEC via Form S-1 under the Securities Act of 1933. It also states that the fund is neither a registered investment company under the Investment Company Act of 1940 nor a commodity pool under the Commodity Exchange Act. Therefore, the fund and its sponsoring company will not be regulated as a commodity pool operator or advisor. Cboe's filing noted that the SEC has granted approvals for spot Bitcoin and Ether ETFs in the past. In those approvals, the SEC found that the Chicago Mercantile Exchange (CME) futures markets were not “significant in size” but provided “other adequate means” to prevent fraud and manipulation. *This is not investment advice. Continue Reading: BREAKING: Major Company Finally Takes Action on Solana (SOL)
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Bitcoin investors now have $1.41 trillion in unrealized profit, according to Glassnode. The on-chain analytics platform disclosed this, noting that it is an all-time high in unrealized gains. According to Glassnode, this is the highest paper gains for Bitcoin investors, surpassing the $1.3 trillion in November 2024. Based on this milestone, analysts believe there could be distribution pressure for Bitcoin if prices continue to increase, leading to holders selling. Bitcoin unrealized gains reach a record high (Source: Glassnode) They wrote: “This massive paper gain concentration sets the stage for potential future distribution pressure if prices continue higher.” Interestingly, the Glassnode analysts appear to be doubling down on this point based on the new level of unrealized profits. They noted that Bitcoin’s unrealized profits as a percentage of its market cap have passed the +2σ band. This level is historically tied to market euphoria, similar to the previous all-time highs. Thus, it usually comes with increased selling pressure as holders are likely to sell off and take profits. As to whether there could be sell-offs to take profits, it does not help that long-term holders control the majority of the BTC supply. Glassnode data also noted that these long-term holders currently have 53% of BTC despite their recent distributions. Thus, any further price increase could reignite distributions, pushing BTC further down and causing additional volatility. However, that has been changing, with 223,602 BTC moving from long-term to short-term holders in the past 30 days. Is Bitcoin at its market top? However, not everyone believes that the $1.4 trillion in unrealized profit is significant enough to have any major impact on BTC’s performance in the short term. Crypto analyst Rezo noted that it is important to consider context, even though $1.41 trillion might sound massive. According to him, Bitcoin’s current market price versus realized price (MVRV) is 2.26, which is far below the historical cycle top of around 3.7 and above. Thus, he does not expect any distribution yet. He said: “We’re not even close to distribution territory yet. 2017 and 2021 both peaked above 12x for long-term holders.” Although several other experts agree with this opinion, some also question whether it is right to base any expectation on historical peaks. On-chain analyst Barış Kardeş noted that doing so could give some investors a false sense of security similar to what happened in the 2021 cycle. That's a valid perspective, and using relative metrics like MVRV is definitely more insightful than looking at absolute numbers alone. However, I'm cautious about anchoring expectations to historical peaks. This pattern feels eerily similar to the misplaced confidence in the… pic.twitter.com/FknOCAj6H1 — Barış Kardeş (@KardesBaris) July 30, 2025 Interestingly, any projected distribution might not have much impact on the BTC price. The flagship asset recently absorbed a sell-off of 80,000 BTC over the weekend without much impact on its price. Bitcoin adoption continues to grow Meanwhile, more signs of crypto adoption in the US are emerging even as Bitcoin and other tokens significantly decline in value. Several developments have happened in the past few days, including the US government publishing its first digital assets report . The report, which is based on President Donald Trump’s executive order, stated that the government will work on strategies to allow it to acquire more BTC for the strategic Bitcoin Reserve. Treasury Secretary Scott Bessent has also posted videos supporting crypto and recently released an op-ed in the Washington Post discussing the “Roadmap to make America a crypto superpower.” All these developments are happening in less than 24 hours after the Securities and Exchange Commission (SEC) approved in-kind creation and redemption for the spot Bitcoin and Ethereum ETFs. However, there have not been any significant price movements. Despite all these positive developments, Bitcoin’s performance over the last 24 hours remains in the red, likely due to interest cooling down. Data from CryptoQuant shows that the futures market for BTC, along with the rest of the market, has cooled after a short-term overheating phase. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage