ChatGPT’s o3 Pro AI model has analyzed 38 live indicators, from TradingView technicals and Binance order book flows to on-chain usage metrics and social sentiment, and has distilled a focused SUI price forecast as the token hovers near $2.83 ahead of potential catalysts. RSI around 35.79 and a mild bearish MACD crossover indicate Sui is tucked between support near $2.70 – $2.85 and resistance around $3.15 – $3.20 , even as daily volume exceeds $657.32 million . Source: CoinMarketCap Since January’s $5.35 peak, the price has slid into a $2.81–$3.37 range by mid-June. However, active address growth, ecosystem developments, and social dynamics suggest that a sharper move may follow once volatility (ATR ~0.12 USDT) expands. The following analysis was conducted using one of ChatGPT’s AI models, the new o3 pro. The predictions were then reanalyzed and edited together for enhanced readability while maintaining analytical precision. Technical Pulse: SUI Price Coiled in a Tight Range On the daily SUI/USDT chart at Binance, the market is clearly compressing. After reaching $5.35 in early January 2025, Sui retreated, settling into a band roughly between $2.70 and $3.15. Source: TradingView Momentum readings show caution, as an RSI near 42.5 sits below neutral without indicating an extreme oversold condition, and MACD’s line at approximately –0.1581 crossing under its signal around –0.1190 yields a slight negative histogram (~–0.0036), reflecting modest downward pressure rather than a decisive breakdown. Volatility remains subdued, with ATR around 0.22 USDT implying daily swings of roughly 4% or less until an external trigger broadens the range. Exponential moving averages further illustrate the bias. The 20-day EMA at about $2.81 lies just above the current price (~$2.78), while the 50-day EMA near $2.95 and the 100-day EMA around $3.10 hover overhead as a descending cluster that resists upward moves. Price attempts to reclaim these averages have stalled, indicating sellers defend rallies within this compression. Bollinger Bands, calculated on a 20-day SMA near $2.85 with upper and lower bands around $3.15 and $2.55, respectively, are narrowing in a classic squeeze; trading below the middle band hints at downward bias but leaves room for a bounce if support levels hold. Classic pivot calculations from the prior session’s high, low, and close yield a pivot near $2.85, first support around $2.70, first resistance near $3.00, second support near $2.55, and second resistance close to $3.15. These pivot points align with horizontal zones observed in recent swings: support around $2.60–$2.70 and resistance near $3.20–$3.30. Historically, once ATR and volume pick up, such squeezes resolve sharply toward the next supply or demand zone. Until then, Sui will likely oscillate within $2.55–$3.15 , favoring investors who respect intraday pivots and maintain tight risk management. Support & Resistance Guide: Mapping the Crucial Zones SUI’s immediate support rests near $2.70–$2.75 , matching pivot S1 and recent swing lows seen in mid-June. If that buffer falters, the broader demand area stretches down to about $2.55, below which April’s trough near $2.11 becomes vulnerable only if sellers decisively breach the $2.55 level. On the upside, initial resistance around $2.85–$2.90 (pivot and 20-day EMA) must yield before the price can test the 50-day EMA near $2.95. Pushing beyond $3.15 (upper Bollinger Band and pivot R2) would open room toward swing highs around $3.30–$3.40 , last tested in early June before renewed downward pressure. Clearing the 100-day EMA near $3.10–$3.15 on solid volume would suggest a potential shift back toward $3.50–$4.00 , though climbing through residual supply from April–May recovery attempts (roughly $3.50–$4.13) may require a robust catalyst. The key trigger lies in daily closes, as holding above $2.85–$2.90 indicates a short-term bullish tilt, whereas falling below $2.70 risks probing $2.55–$2.50 . Given an ATR-based expected daily range near $0.24, a breakout or breakdown beyond these pivot zones could materialize within a single trading day once volatility awakens. Thus, investors should watch for ATR upticks alongside volume surges to confirm genuine directional moves rather than false breaks in a still-constricted market. Liquidity & Market Depth: Is There Fuel for a Conviction Move? With a market capitalization of approximately $9.5 billion and a fully diluted valuation of around $28 billion , SUI commands substantial liquidity across major exchanges. Binance’s SUI/USDT order books typically absorb multimillion-dollar orders without severe slippage, a prerequisite for volatility expansions when triggered. The recent 24-hour turnover of $1.14 billion , about 12.5% of the market cap, reflects sustained trading engagement despite sideways price action. According to on-chain and anecdotal indicators, the volume composition appears tilted toward spot accumulation rather than leveraged positions. This reduces the likelihood of forced liquidations and dampens explosive price swings until a clear catalyst emerges. Order book clusters near $2.70–$2.80 on bids provide a cushion against moderate selloffs, while resting offers around $2.90–$3.00 absorb minor rallies unless buying pressure intensifies. Observing the volume-weighted moving average (e.g., VWMA20) can reveal subtle accumulation. If VWMA rises while price lingers below EMAs, it hints at selective buying beneath an overall bearish-looking chart. Overall, deep liquidity and sustained volume supply the fuel for a breakout once volatility picks up. Yet, price may remain confined within the established range without a clear catalyst, ecosystem news, macro shifts, or broader crypto sentiment changes. The next decisive move will likely require an external spark to push through these liquidity zones. OnChain Insights: Gauging Real Usage vs. Speculation Despite SUI’s pullback from January highs, on-chain metrics indicate continued ecosystem engagement . Daily active addresses and transaction counts remain elevated, indicating usage-driven demand beyond mere speculation. Thousands of daily users interacting with dApps, NFTs, DeFi, or emerging meme projects suggest a baseline of utility that can sustain price floors when volatility spikes. Lockups of SUI tokens by projects or the foundation for staking or governance purposes could tighten the exchange float, exerting upward pressure when buying resumes. Conversely, reports of large token dumps by early investors have amplified selling pressure, contributing to April’s dip. Launches of large-scale dApps often drive transaction volume spikes, as users need SUI to pay fees and participate in tokenomics; such on-chain activity surges have historically preceded price rebounds. Stablecoin or bridge flows also matter, as data indicating that SUI surpasses other chains in stablecoin transfers hints at infrastructural adoption that underpins long-term demand, even if price lags initially. $SUI surpasses @Solana for the first time in weekly stablecoin transfers pic.twitter.com/vkPB1A59Hg — ToreroRomero (@Torero_Romero) June 18, 2025 Network upgrades and partnerships, such as the cross-chain bridges, major wallet integrations, or rumored listings like Robinhood, can prompt anticipatory positioning, reducing float ahead of confirmation. Monitoring these indicators reveals whether on-chain demand growth outpaces sell-side pressure from profit-taking or broader market weakness. $SUI SURPASSES 210 MILLION TOTAL ACCOUNTS pic.twitter.com/mdQAaRI0zq — ToreroRomero (@Torero_Romero) June 16, 2025 Sustained increases in active addresses or locked tokens during a volatility squeeze often presage bullish breakouts once sentiment shifts. Social Sentiment Indicators: Reading the Community Pulse LunarCrush data portrays an engaged but cautious SUI community. Galaxy Score near 60 sits above neutral 50 , reflecting modest bullish bias rather than euphoria. AltRank places SUI around 140 in a mid-tier engagement category. Yet engagement metrics show nearly 1.6 million interactions over 24 hours and rising mentions of about 22.32K . Sentiment hovers around 90% positive or neutral, though slight downward shifts hint at growing caution amid price decline. A high volume of mentions and an expanding creator base (around 3.2K contributors) mean diverse narratives circulate: some emphasize SUI’s layer1 promise and utility gains (“surpassing Solana in stablecoin transfers”). $SUI surpassing solana in stablecoins transfer is making it clear as the daylight That the next retail onboarding chain is @SuiNetwork Price action may not reflect it rn but when fundamentals start aligning, prices catch up sooner & at rapid pace! Don't fade…. pic.twitter.com/Y2OYwBLudU — Momin (@mominsaqib) June 18, 2025 In contrast, others warn of token dumps or question near-term catalysts. Social dominance, which accounts for nearly 1.7% of crypto chatter, can spike around major headlines, quickly amplifying volatility. Trending articles, comparisons with other L1s, forecast warnings, and listing speculation influence collective expectations. Positive headlines may spark short-term rallies, whereas contradicting reports fuel whipsaws. $SUI SURPASSES $490 BILLION TOTAL TOKEN VOLUME pic.twitter.com/K4OtxsCgTf — ToreroRomero (@Torero_Romero) June 17, 2025 Overall, mixed yet attentive sentiment suggests that a clear catalyst, such as a successful dApp launch, major listing, or macro relief, could rapidly shift conviction and trigger a pronounced move. Until then, social-driven volatility is likely contained within the existing trading band, as bullish and bearish narratives balance each other. Macro & Ecosystem Catalysts: Potential Sparks Several developments could break SUI out of its current compression: Confirmation of a high-profile listing or integration, such as on Robinhood or large wallet/payment platforms, would expand access and likely reignite buying pressure. Partnerships with prominent DeFi protocols or cross-chain bridges, enhancing utility, can reshape market perception. Launches of ecosystem milestones, high-profile dApps, NFT marketplaces, gaming projects, or DeFi protocols that drive substantial transaction volume and token lockups can tighten float and underpin price support. Network upgrades that improve throughput and interoperability (e.g., seamless bridges) or introduce novel features (e.g., zkrollup integration) boost developer interest and indicate maturation, encouraging longer-term investment. A broader crypto rally, driven by macro liquidity, ETF approvals, or risk-on shifts, often lifts altcoins alongside Bitcoin and Ethereum; Sui could attract spillover capital if technical conditions permit. Tokenomics events, including vesting or unlock schedules, may pressure price when large holders sell; however, coordinated lockups or buyback programs could produce bullish supply shocks. Clear communication around token release schedules is vital to manage expectations. Regulatory clarity favoring layer-1 blockchains and DeFi can indirectly benefit Sui by boosting sector confidence. Broader market shocks, geopolitical tensions, or macro risk-off episodes can trigger capital rotations; Sui’s on-chain usage resilience might lend relative shelter, though initial dips often precede recoveries if fundamentals hold. The interplay and timing of these catalysts against SUI’s technical squeeze will determine the breakout direction. Investors should monitor news flow, on-chain and social metrics, and volume/volatility shifts as potential catalysts emerge. Three-Month SUI Price Forecast Scenarios In the coming 90 days , SUI’s path will likely fall into one of three broad scenarios. Range-Bound Consolidation (Base Case) SUI may oscillate between roughly $2.55 and $3.15 without a clear catalyst or favorable macro shift. Technical indicators, such as the RSI lingering near 40–50 , MACD near neutral, and EMAs overhead, point to a balanced tug of war. On-chain usage remains steady but not surging, and social sentiment stays mixed, containing the price within the established band. Volatility (ATR ~0.12 USDT) and volume hold near current levels, punctuated by occasional spikes insufficient to breach pivot zones. In this environment, short-term investors can exploit intraday swings with tight risk controls, while longer-term participants await directional clarity before substantially altering positions. Bull Breakout Toward $4+ (Bull Case) A convergence of positive catalysts, such as a major listing announcement, a surge in dApp adoption metrics, or a broad crypto upswing, could drive volume and volatility above normal, pushing the price above $3.15 (upper Bollinger Band/pivot R2) and clearing the 100-day EMA near $3.10 . An RSI climbs above 50, and a bullish MACD crossover would confirm a momentum shift. On-chain metrics (active addresses, transaction volume, token lockups) would need to spike to validate demand, and social indicators (Galaxy Score above 60, surging engagement) would amplify interest. The initial upside could target $3.50–$4.00 , with the potential to retest at $5.00 if momentum persists in a constructive, broader market. However, risk management remains essential. Traders should take profits near resistance and rely on volume to sustain moves, using trailing stops or staged exits to guard against sudden reversals if sentiment overheats. Downside Breakdown Toward $2 or Lower (Bear Case) Negative catalysts, such as disappointing ecosystem developments, macro risk-off, or large insider selloffs, could trigger a high volume breach of $2.70 support . Confirmation would come from an RSI drop below ~35, a deepening negative MACD, and a spike in ATR indicating panic-like volatility. Onchain signals would show stalled or declining active address growth, token unlock events flooding exchanges, and weakening transaction metrics, pointing to fading demand. Social sentiment might plunge (Galaxy Score falling below ~30), with engagement skewing negative and accelerating selling pressure. In this scenario, the price could test April lows near $2.11 and psychological $2.00 ; breaking these could open paths toward $1.80 or lower if macro conditions remain hostile. Investors should employ stop losses below key supports and consider hedging, while long-term holders assess whether fundamental prospects justify adding at lower levels or if risks outweigh potential gains. SUI Price Forecast: Converging Signals at a Key Juncture Across technical charts, on-chain metrics, and social feeds, SUI exhibits pronounced compression. The price is wedged between $2.70 support and $3.15 resistance , with EMAs overhead indicating caution. Onchain engagement remains healthy, and social attention stays high, but undecided. The next directional move will depend on how catalysts intersect with this squeeze. Market participants should treat each swing as a data signal: does the price hold near $2.70 for rising on-chain usage? Does a listing or partnership coincide with higher Galaxy Scores and volume that propel the price above $3.15? Conversely, do token unlocks or negative macro news induce a drop below $2.55, and if so, can onchain stickiness or community buy-ins arrest deeper declines? Active, real-time monitoring, which includes recalculating indicators, analyzing order book depth, and tracking sentiment flows, can refine decisions amid uncertainty. Geopolitical or macro shifts, such as the ongoing Israel-Iran war , also factor in risk-off periods. Altcoins often suffer steeper drawdowns yet may rebound faster if on-chain fundamentals remain intact. What’s Next for SUI? SUI’s compression between $2.70 and $3.15 reflects a market at a crossroads: technical indicators hint at bearish bias yet show readiness for a breakout when catalysts align; on-chain metrics reveal sustained engagement despite price declines; social sentiment remains engaged but uncertain. Over the next 90 days, forces such as major listings, ecosystem milestones, macro tides, or tokenomics events will determine whether Sui reclaims higher ground toward $4–$5 or revisits deeper support near $2.00–$2.10 . Investors should watch daily closes above $3.15 for bullish conviction or below $2.70 for bearish confirmation, while monitoring ATR and volume spikes as early warnings of volatility expansion. Simultaneously, on-chain usage trends and social sentiment shifts, such as rising active addresses or a jump in Galaxy Score above 60 , offer context to validate moves or indicate caution. SUI’s trajectory will mirror the interplay between its fundamental advancement as a layer-1 platform and broader market dynamics. SUI’s journey from January highs through midyear consolidation shows both opportunity and risk, and investors should pay close attention to it. The post ChatGPT’s 38-Signal SUI Price Forecast Flags Major Breakout Ahead of Key Catalyst appeared first on Cryptonews .
Despite escalating geopolitical tensions in the Middle East, Bitcoin’s price remains surprisingly stable, challenging its reputation as a reliable hedge asset. Industry experts, including NoOnes CEO Ray Youssef, suggest that
BitcoinWorld Soaring Corporate Crypto Adoption Reveals Unexpected Market Strength Are concerns about the crypto market hitting a wall overblown? Recent trends in public companies crypto strategies suggest this might be the case. A notable surge in publicly traded firms adding digital assets to their balance sheets indicates a deeper, more structural commitment than seen in previous cycles, hinting that fears of an imminent, devastating bubble burst might be exaggerated. Why is Corporate Crypto Adoption Gaining Momentum? The shift towards corporate crypto adoption is becoming a significant factor in the digital asset landscape. According to a report cited by The Block, Presto Head of Research Peter Chung highlights that the growing number of public companies accumulating crypto for their strategic reserves is a key indicator against widespread market collapse fears. While the rapid growth of crypto fund managers and their leveraged positions *could* pose risks in a bear market, potentially sparking forced liquidations, Chung views these risks as more manageable compared to the catalysts behind past market downturns, such as the collapse of the Terra ecosystem or the implosion of Three Arrows Capital (3AC). This growing trend isn’t just about speculation; it’s about companies integrating digital assets into their long-term financial planning. They are building crypto strategic reserves , treating assets like Bitcoin not just as volatile trading instruments but as potential hedges against inflation or alternative store-of-value assets. Who is Leading the Charge in Crypto Hoarding? The report points to a substantial number of companies embracing a crypto hoarding strategy. Currently, around 228 public companies have publicly disclosed holding crypto assets. These aren’t just crypto-native firms anymore. Examples include diverse companies like: Metaplanet: A Japanese investment firm aggressively adopting Bitcoin as a reserve asset. GameStop: The well-known video game retailer, exploring various Web3 initiatives including NFTs and potentially holding crypto. Trump Media & Technology Group: The media company behind Truth Social, which has also shown interest in digital asset integration. These firms aren’t merely dipping their toes in; they are fundamentally changing their corporate structures and financial policies to facilitate the acquisition and holding of digital assets. This widespread adoption across different sectors signals a maturing view of cryptocurrencies beyond just a speculative play. Does Corporate Crypto Hoarding Reduce Market Risk? One crucial aspect highlighted by the Presto research is the *way* these companies are holding crypto. Unlike some leveraged players in previous cycles, these corporate entities are rarely using their acquired crypto assets as collateral for loans. This is a critical difference. In past market crashes, forced liquidations triggered by over-leveraged positions collateralized by volatile crypto assets created a domino effect, exacerbating the downturn. Because a significant portion of this new wave of corporate crypto strategic reserves is held without being pledged as collateral, the risk of a systemic liquidation cascade originating from these corporate balance sheets is considerably lower than what was observed during the market crash in 2021 or the crypto lender crisis of 2022. This doesn’t eliminate all risk, of course. The report acknowledges that firms could still be compelled to offload their crypto holdings in the event of an urgent need for cash during a liquidity crisis. However, this would likely be a response to external financial pressures on the company itself, rather than a direct consequence of leveraged crypto positions going underwater, which historically has posed a more systemic crypto market risk . What Does This Mean for the Future of the Crypto Market? The increasing trend of corporate crypto adoption and strategic crypto hoarding by public companies suggests a fundamental shift in how mainstream finance views digital assets. It indicates a growing conviction in the long-term value proposition of cryptocurrencies, moving beyond speculative trading into genuine balance sheet management. While the crypto market remains volatile and subject to various external factors, the presence of a growing base of corporate holders who are not heavily leveraged provides a potential stabilizing force. It suggests that even in a downturn, there might be fewer forced sellers driven purely by margin calls related to their crypto holdings. This doesn’t guarantee the absence of bear markets, but it does imply that the nature of potential future downturns might differ from past cycles, potentially being less driven by the specific type of leverage that caused widespread liquidations in 2021 and 2022. The strategic accumulation by companies building crypto strategic reserves is a quiet but powerful endorsement of the asset class. Conclusion: A Sign of Maturation? The significant increase in public companies crypto holdings, as highlighted by Presto research, offers a compelling counterpoint to pervasive fears of an imminent and devastating market bubble burst. The strategic, unleveraged nature of much of this crypto hoarding by firms like Metaplanet, GameStop, and Trump Media represents a structural change in the market. While risks remain, particularly the potential need for companies to sell for liquidity, the reduced threat of systemic liquidation cascades originating from corporate balance sheets is a positive development. This trend underscores a growing institutional confidence and integration of digital assets, suggesting a market that is perhaps maturing beyond the excesses of previous speculative booms and busts. To learn more about the latest corporate crypto adoption trends, explore our article on key developments shaping corporate crypto adoption institutional adoption. This post Soaring Corporate Crypto Adoption Reveals Unexpected Market Strength first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin has traded above $100,000 for over 40 consecutive days since May 7, a milestone for the top cryptocurrency, which also reached more than 6,000 days of continuous running time this month. BTC Unmoved by Global Events On June 19, Bitcoin logged more than 40 consecutive days trading above the $100,000 mark, a feat achieved
Telegram is rapidly emerging as a dominant Web3 gaming platform, leveraging its TON-integrated wallet to facilitate seamless crypto onboarding, payments, and digital ownership for nearly 1 billion users worldwide. Telegram
BitcoinWorld ALEX DeFi Vulnerability: Brief 23-Minute Glitch Had Limited Impact In the fast-paced world of decentralized finance (DeFi), security is paramount. Recently, the team behind ALEX DeFi , an open-source protocol operating on the Stacks blockchain , reported a brief but notable issue within their system. This incident, while quickly addressed, highlights the ongoing challenges in maintaining robust security in the DeFi space. What Happened with the ALEX Protocol? The vulnerability occurred during a recent upgrade to ALEX’s bug bounty contract. According to the foundation, the issue was present for approximately 23 minutes. During this short window, a flaw existed that could potentially allow a single account to submit duplicate compensation claims. The bug was confirmed after a user reported it to Bitcoin World. It specifically affected a page designed to handle reimbursements for individuals impacted by a previous exploit. This meant the vulnerability was tied to a specific process for compensating past victims, not the core trading or lending functions of the ALEX protocol itself. Understanding the DeFi Vulnerability A DeFi vulnerability like this, even a brief one, can raise concerns. However, the ALEX foundation emphasized that the impact was significantly limited. Why? Specific Condition: Exploiting the bug required a user to perform two very specific actions in sequence: first claim compensation through the old contract, and then attempt another claim via the new, recently upgraded contract. Limited Exploitation: Only one individual was identified attempting to exploit this vulnerability by using two different wallet addresses to make duplicate claims. No Impact on Main Operations: Crucially, the distribution of USDC intended for victims of the previous hacks was not affected by this bug. The compensation process for legitimate claims continued as planned. The Role of Crypto Bug Bounty Programs This incident underscores the importance of crypto bug bounty programs. While the vulnerability was brief, it was detected and reported, allowing the ALEX team to address it swiftly. Bug bounty programs incentivize ethical hackers and users to find and report potential flaws before they can be widely exploited, contributing to the overall security of the ecosystem. The foundation is now in contact with the individual who made the duplicate claims, requesting the return of the erroneously received funds. This demonstrates the protocol’s commitment to rectifying issues and maintaining fairness within its community. Navigating Security on the Stacks Blockchain Building secure protocols on any blockchain, including the Stacks blockchain , requires continuous vigilance. Stacks, which brings smart contracts and decentralized applications to Bitcoin, benefits from Bitcoin’s underlying security but still requires careful smart contract design and auditing for the applications built on top of it, like ALEX. While ALEX has faced significant security challenges in the past, including major exploits in May 2023 and June 2024, the swift identification and limited impact of this recent 23-minute vulnerability show that monitoring and rapid response mechanisms are in place, even during system upgrades. Conclusion: A Brief Scare, Quickly Managed The 23-minute vulnerability in the ALEX compensation system was a brief scare that highlights the inherent risks and the continuous need for vigilance in the DeFi space. The limited window, specific conditions for exploitation, and the fact that it only affected duplicate claims significantly mitigated the potential damage. The incident serves as a reminder that even minor glitches can occur during system upgrades, but effective monitoring and community reporting, facilitated by programs like a crypto bug bounty , are vital for maintaining trust and security in decentralized protocols like ALEX DeFi on the Stacks blockchain . To learn more about the latest DeFi vulnerability trends, explore our article on key developments shaping Stacks blockchain and the broader crypto security landscape. This post ALEX DeFi Vulnerability: Brief 23-Minute Glitch Had Limited Impact first appeared on BitcoinWorld and is written by Editorial Team
Upcoming U.S. stablecoin regulation, particularly the GENIUS Act, is poised to significantly boost institutional interest in the Ethereum ecosystem, according to Etherealize. Clear regulatory frameworks are expected to unlock widespread
XAO DAO has announced plans to launch the first decentralized autonomous organization (DAO) on the XRP Ledger. The Wyoming-based limited liability company (LLC) disclosed this on X, noting that it will bring a new era of decentralized innovation. According to the announcement , XAO DAO is a next-generation governance engine for the XRPL network that will allow users to participate in the network governance. The post highlighted why DAOs are important, noting that they promote transparent processes and empower users to participate actively. XAO DAO is a for-profit entity co-founded by Fabio Marzella and Santiago Velez. With the DAO, XRPL network users can become involved in its governance once they become a member and can vote on allocating network resources to support ecosystem projects and other proposals. Interestingly, the DAO stated there is no plan to launch a token as the core focus is on real utility, and XRP remains the token. It said: “Our focus is on real utility, governance, grants, and community. Not meme charts and mystery pumps. Show up. Get involved. Help build. That’s the real value to help shape the future of the XRPL.” Meanwhile, the post explained how voting would work, noting that voting value will be based on the amount of XRP held at the time of the snapshot, with all votes mattering equally. XAO DAO is yet to launch, but those interested in becoming members can already sign up for the waitlist. How will the XAO DAO function While the XAO DAO post focused on what the DAO brings to XRPL, popular XRP investor WrathofKahneman on X explained its purpose. He stated that XAO DAO is expected to provide a governance mechanism for distributing the 1 billion XRP that Ripple allocated to develop the XRPL ecosystem. So far, Ripple has been handling the allocation of the grants to projects on XRPL. However, a newly formed XRPL Foundation is now set to take over that responsibility, and the Foundation will use the XAO DAO governance system to determine who gets the grant. Interestingly, the XRPL Foundation’s bylaws give XAO DAO a board. The DAO, along with XRPL Commons, XRPL Labs, and Ripple Labs, are the founding members of the XRPL Foundation. Meanwhile, XAO DAO founder Santiago Velez has explained that the DAO governance application will use both XRPL and the XRPL Ethereum Virtual Machine (EVM) sidechain. While the XRPL will be used to record membership of the LLC, the sidechain will be used to mint and burn governance tokens for each proposal and vote. Decentralized governance could boost XRPL DeFi With XRPL now set to support decentralized governance, many people in the XRP community have welcomed the news as a big step towards full decentralization. For them, it is a sign of maturity and could finally boost innovation and DeFi activity on XRPL. While the network has been around for 13 years, it has struggled to generate significant activity compared to its peers. However, recent developments suggest that this could change. Since the XRPL APEX Conference, the network has seen several integrations and more upcoming products. Circle USDC recently expanded to the network, while Ondo Finance also launched tokenized US treasuries. Its EVM sidechain is also set to deploy soon. Meanwhile, XRP itself is also positioned to increase adoption by TradFi and DeFi. On June 18, asset manager 3iQ launched an XRP exchange-traded fund (ETF) on the Toronto Stock Exchange. Several DeFi protocols are also developing products around XRP, and Flare Network plans to introduce FXRP on its mainnet. Firelight protocol also wants to launch a liquid staking derivative of the token stXRP. All the interest and developments concerning XRPL and XRP have already boosted the network activity, with a 3-month average for active addresses now at 295,000. XRP has also held steady despite recent volatility and is up more than 1% today. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Mexican billionaire businessman Ricardo Salinas stated that Bitcoin has become a global reserve asset and will soon surpass the $16 trillion market value of gold. Salinas argued that Bitcoin will gain approximately 8 times its current value and reach the total value of gold. Salinas, who made remarkable statements in a speech, said, “Bitcoin is a new global reserve asset. It will surpass gold. This is the most important message to be taken from this speech.” Related News: Analysis Company Releases Critical Weekly Report on Bitcoin - Is BTC Healthy in the Current Situation? Stating that Bitcoin is currently trading at around $105,000, Salinas reminded that the total value of 20 million Bitcoins in circulation is around $2 trillion. In contrast, Salinas said that the total market value of gold is around $16 trillion, and that Bitcoin would need to increase in value eightfold to reach this level. “I have no doubt that this will happen very soon,” said Salinas, who did not give an exact date but argued that the trend was clear: “The value of gold against Bitcoin is constantly falling. This trend is clearly visible.” *This is not investment advice. Continue Reading: Mexican Billionaire Ricardo Salinas Shares His Bullish Price Prediction for Bitcoin
BitcoinWorld Ohio Crypto Tax: Major Step Forward as House Passes Bill Exempting Small Transactions Big news from the Buckeye State! If you’re in Ohio and dabble in cryptocurrencies, a significant change might be coming to how your crypto transactions are taxed. The Ohio House of Representatives has taken a notable step by passing a bill that could ease the tax burden on smaller digital asset exchanges. Understanding Ohio House Bill 116: What’s on the Table? The core of this development revolves around Ohio House Bill 116 (HB 116). This proposed legislation, introduced by State Representative Steve Demetriou, aims to create a more favorable environment for cryptocurrency users and potentially the mining industry within Ohio. Its passage through the House is a crucial milestone, signaling growing legislative attention to the world of digital assets at the state level. Before reaching the full House floor, HB 116 received unanimous bipartisan support from the House Technology and Innovation Committee. This level of cross-party agreement suggests a shared interest in addressing how crypto interacts with existing state frameworks, particularly concerning taxation and economic activity like mining. Now that the House has given its nod, the bill moves to the Ohio Senate for further consideration. If it successfully navigates the Senate and passes there, the final step would be gaining the signature of Republican Governor Mike DeWine to become law. The Key Provision: A Potential Crypto Tax Exemption for Small Transactions The most talked-about aspect of HB 116 is its provision for a crypto tax exemption on smaller transactions. Specifically, the bill proposes exempting crypto transactions below $200 from state capital gains tax. This is a significant detail for anyone using cryptocurrency for everyday purchases or minor exchanges. Here’s a breakdown of why this exemption matters: Easing the Burden: Currently, under existing tax laws (both federal and state), selling or exchanging cryptocurrency is often considered a taxable event. If you sell crypto for a profit, you owe capital gains tax. This applies even if you’re just using crypto to buy a cup of coffee or a small item. Promoting Micro-Transactions: The $200 threshold is designed to make using crypto for small, routine purchases much simpler from a tax perspective. Imagine buying something online for $50 with Bitcoin; under current rules, you’d technically need to track the cost basis and potential gain or loss for that small transaction. HB 116 aims to eliminate that complexity for amounts under the limit. Reducing Complexity: Tracking capital gains and losses on numerous small crypto transactions can be a significant headache for individuals. This exemption would dramatically reduce the record-keeping burden for users who aren’t engaging in large-scale trading but rather using crypto for utility. How Does This Impact Your Crypto Capital Gains Tax in Ohio? To understand the impact of HB 116, it’s helpful to quickly review what crypto capital gains tax entails. When you acquire cryptocurrency, that’s your cost basis. If you later sell, trade, or use that crypto to buy something for more than your cost basis, you realize a capital gain. This gain is subject to taxation. For example, if you bought $100 worth of Ethereum and later used a portion of it (worth $150 at the time) to buy goods, you would have a $50 capital gain that needs to be reported and taxed. Under HB 116, if that transaction value was below $200 (like the $150 example), the capital gain associated with it would potentially be exempt from Ohio’s state capital gains tax. This doesn’t eliminate the federal tax obligation (as state laws don’t override federal ones), but it removes a layer of state-level complexity and cost for small disposals. What About Crypto Transactions Beyond the Tax Exemption? It’s crucial to remember that the proposed exemption only applies to crypto transactions valued below $200. Any transaction exceeding this threshold would still be subject to Ohio’s standard capital gains tax rules, assuming the bill passes in its current form. This means that trading larger amounts of crypto, selling significant holdings, or using crypto for high-value purchases would still require careful tracking of cost basis and reporting of gains or losses. The bill also reportedly includes provisions related to crypto mining operations. While the specific details of these provisions weren’t extensively covered in the initial report, such inclusions often address regulatory clarity, energy consumption considerations, or potential tax incentives or frameworks for mining businesses operating within the state. This suggests a broader effort by Ohio lawmakers to consider various facets of the cryptocurrency ecosystem, not just individual user transactions. What’s Next for the Ohio Crypto Tax Bill? The journey for the Ohio crypto tax bill, HB 116, is not yet complete. Its passage through the House is a significant hurdle cleared, demonstrating legislative will, but it now faces review and potential amendments in the Ohio Senate. The Senate may hold committee hearings, propose changes, and then vote on the bill. If it passes the Senate, it must then be signed into law by Governor DeWine. Here’s the path ahead: Ohio Senate Review: The bill will be assigned to a Senate committee, likely one focused on technology, finance, or taxation. Potential Amendments: Senators may propose changes to the bill’s language, the $200 threshold, or the mining provisions. Senate Vote: If it passes committee, it will go to the full Senate for a vote. Governor’s Desk: If the Senate passes it without amendments, it goes straight to the Governor. If amended, it might need to go back to the House for agreement on the changes. Becoming Law: If the Governor signs it, it becomes law on a specified effective date. This process can take time, and there’s no guarantee the bill will pass the Senate or be signed by the Governor. However, the strong bipartisan support in the House suggests it has a reasonable chance of progressing. Actionable Insights for Ohio Residents If you are an Ohio resident who uses or holds cryptocurrency, here are some actionable steps: Stay Informed: Follow the progress of HB 116 through the Ohio Senate. News outlets covering state legislation and cryptocurrency news will be key sources. Understand Current Rules: Regardless of the bill’s outcome, understand the current state and federal tax rules regarding crypto capital gains. Keep meticulous records of your crypto purchases and sales. Prepare for Potential Change: If the bill passes, familiarize yourself with the specifics of the $200 exemption and how it applies to your transactions. Consider Advocacy (Optional): If you feel strongly about the bill, consider contacting your State Senator to express your views. Conclusion: A Positive Signal for Crypto Adoption in Ohio? The passage of Ohio House Bill 116 through the House is undoubtedly a positive signal for those hoping to see clearer and potentially less burdensome regulations for cryptocurrency users at the state level. The proposed crypto tax exemption for transactions under $200 is a practical step that could make using crypto for small, everyday purposes much more feasible and less taxing (literally and figuratively) for Ohio residents. While the bill still has hurdles to clear in the Senate and with the Governor, its initial success with bipartisan support highlights a growing recognition among lawmakers of cryptocurrency’s role in the modern economy and the need for updated regulations. This move positions Ohio as a state potentially open to fostering crypto adoption by addressing one of the key pain points for users: tax complexity on small crypto transactions. To learn more about the latest Ohio crypto tax developments and other legislative trends shaping cryptocurrency adoption, explore our articles on key developments shaping the crypto landscape. This post Ohio Crypto Tax: Major Step Forward as House Passes Bill Exempting Small Transactions first appeared on BitcoinWorld and is written by Editorial Team