XRP is currently facing significant selling pressure, dropping to an intraday low of $2.96. This decline marks its lowest level since August 6, as bulls struggle to regain momentum in
A bullish continuation for AERO may be highly likely in the near term.
Ripple and the SEC have jointly dismissed appeals, with Ripple agreeing to pay $125 million, marking a significant milestone in the XRP lawsuit and reaffirming XRP’s status as not a
Dogecoin started a fresh decline below the $0.250 zone against the US Dollar. DOGE is now consolidating and might dip further below $0.2250. DOGE price started a fresh decline below the $0.2420 level. The price is trading below the $0.2320 level and the 100-hourly simple moving average. There was a break below a key rising channel with support at $0.2295 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh upward move if it stays above the $0.2165 zone. Dogecoin Price Dips Again Dogecoin price started a fresh increase above the $0.240 resistance zone, like Bitcoin and Ethereum . DOGE even spiked above $0.2420 before the bears appeared. A high was formed at $0.2430 and the price started a fresh decline. There was a move below the $0.240 and $0.2350 levels. The price dipped below the 50% Fib retracement level of the upward move from the $0.2163 swing low to the $0.2430 high. Besides, there was a break below a key rising channel with support at $0.2295 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading below the $0.2320 level and the 100-hourly simple moving average. The bulls are now protecting the 76.4% Fib retracement level of the upward move from the $0.2163 swing low to the $0.2430 high. If there is a recovery wave, immediate resistance on the upside is near the $0.2295 level. The first major resistance for the bulls could be near the $0.2320 level. The next major resistance is near the $0.2420 level. A close above the $0.2420 resistance might send the price toward the $0.250 resistance. Any more gains might send the price toward the $0.2650 level. The next major stop for the bulls might be $0.2780. More Losses In DOGE? If DOGE’s price fails to climb above the $0.2320 level, it could continue to move down. Initial support on the downside is near the $0.2220 level. The next major support is near the $0.2165 level. The main support sits at $0.2150. If there is a downside break below the $0.2150 support, the price could decline further. In the stated case, the price might decline toward the $0.2050 level or even $0.2020 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.2165 and $0.2150. Major Resistance Levels – $0.2320 and $0.2420.
Bulls are struggling to push the XRP token back above the make-it-or-break-it $3 level
Dogecoin (DOGE) nursed losses on Monday as the community behind Qubic, which recently attacked Monero, voted to target the Dogecoin network over Zcash and Kaspa by a big margin. At the time of writing, DOGE traded at over 22 cents, representing a 4% decline on a 24-hour basis, according to CoinDesk data. The cryptocurrency chalked out a bullish golden crossover last week, but the bullish pattern failed to inspire bullish momentum. Early Monday, the AI-focused blockchain project Qubic announced the community's intention to target Dogecoin on X , stating, "There are ongoing discussions about $DOGE and preparation will take time." It added that "questions around blockchain resilience are being raised and we may have tools to address them." Sergey Ivancheglo, the founder of the Qubic network, sought a community vote on which application-specific integrated circuit (ASIC)-enabled proof-of-work (PoW) blockchain should be targeted with a 51% attack. From a list that included Kaspa and Zcash, the community overwhelmingly voted for DOGE. “The Qubic community has chosen Dogecoin,” Ivancheglo, announced on X via his handle Come-from-Beyond. Qubic recently launched a successful 51% attack on Monero , gaining majority control over the computing power used to secure the privacy network. DOGE leads CVD decline DOGE's futures open-interest-adjusted cumulative volume delta (CVD) indicator has dropped nearly 1% in the past 24 hours, the largest among the top 25 cryptocurrencies by market value, according to data source Velo. CVD, or Cumulative Volume Delta, is a technical indicator that measures the net buying or selling pressure in a market over a specific period. It is a running total of the difference between buying and selling volume. A negative CVD indicates that selling pressure is more substantial than buying pressure. This means that a greater number of market participants are selling a particular asset than buying it. It is often seen as a bearish signal, suggesting that the price is likely to drop or continue its decline. Most cryptocurrencies, including BTC and ETH, have a similar bearish profile. Meanwhile, LINK is the only token, boasting a positive CVD. BTC Drops below $116K Bitcoin (BTC), the leading cryptocurrency by market value, fell nearly to $115,000 early Monday, extending the decline from Thursday's record high of over $124,000. The decline follows a hotter-than-expected U.S. producer price inflation on Friday, which weakened the case for a 50-basis-point Fed rate cut in September. That said, the central bank is still expected to reduce the borrowing cost by 25 basis points. "Given the persistent uncertainty surrounding key economic indicators, the Federal Reserve has thus far maintained a cautious stance on interest rate cuts. The recent U.S. Producer Price Index (PPI) for July doesn’t make that any easier," analysts at Coinbase Institutional said in a weekly report. "Nevertheless, we see this as an opportunity. We think the Fed's eventual focus on the broader economic picture, including the labor market, will ultimately lead to 25 bps rate cuts in September and October," analysts added. Some observers expect the Fed Chair Jerome Powell to lay the groundwork for the September move during this speech at the Jackson Hole Symposium later this week. Read more: Asia Morning Briefing: Crypto's Rising Leverage Trades Show Signs of Stress, Galaxy Digital Says
BitcoinWorld South Korea’s Astounding Crypto Stock Holdings Soar to $556.7 Million The world of finance is constantly evolving, and a groundbreaking development from South Korea is making headlines: the nation’s National Pension Service (NPS) has dramatically increased its crypto stock holdings . This move signifies a growing acceptance and strategic interest in the digital asset space by major institutional players. It’s a clear signal that traditional finance is taking cryptocurrency-related investments seriously, potentially paving the way for more mainstream adoption. What Are South Korea’s Pension Fund Crypto Stock Holdings? South Korea’s National Pension Service (NPS), one of the largest pension funds globally, significantly boosted its investments in companies linked to the cryptocurrency sector. Digital Asset reported a remarkable 182% increase in their crypto stock holdings this year, reaching approximately 770 billion won, which translates to a substantial $556.7 million. At the close of the second quarter, the fund held considerable positions in several key players within the crypto ecosystem. These included: Strategy: Their holdings in this firm saw the most significant surge, climbing by 226% in the first half of the year to $204.98 million. Coinbase: A prominent cryptocurrency exchange. Block (formerly Square): A financial technology company with a strong interest in Bitcoin. Robinhood: A popular trading platform that offers crypto trading. The total value of these specific holdings amounted to $552.89 million, highlighting a targeted investment strategy within the digital asset market. Why Is This Increase in Crypto Stock Holdings Significant? When a national pension fund, managing assets for millions of citizens, makes such a substantial move, it sends a powerful message. This isn’t speculative retail trading; it’s a calculated decision by a sophisticated institutional investor. The increase in their crypto stock holdings suggests a belief in the long-term potential and viability of the underlying technology and business models of these crypto-related companies. Such investments can lead to several positive outcomes: Legitimization: It further legitimizes the cryptocurrency industry in the eyes of traditional finance and regulators. Capital Inflow: It directs significant capital into companies that are building infrastructure and services for the digital economy. Diversification: Pension funds often seek diversification to manage risk and enhance returns. Crypto-related stocks can offer a new avenue for growth. This strategic allocation by the NPS could influence other large institutional investors to explore similar opportunities, thereby increasing overall market stability and liquidity. What Are the Implications of Growing Crypto Stock Holdings? The decision by South Korea’s NPS to expand its crypto stock holdings carries broad implications for both the crypto market and global institutional investment trends. It signals a shift from a niche interest to a more integrated part of diversified portfolios. However, it’s also important to acknowledge potential challenges. Benefits: Increased Trust: Greater institutional participation can build trust among individual investors. Market Maturity: It encourages greater scrutiny and potentially better governance within the crypto sector. Innovation: More capital means more resources for research and development in blockchain technology. Challenges: Volatility: Crypto-related stocks can still be subject to the inherent volatility of the underlying digital assets. Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is still evolving globally, posing potential risks. Public Scrutiny: Pension funds face intense public scrutiny regarding their investment choices, especially in newer asset classes. Despite these challenges, the significant increase in crypto stock holdings by South Korea’s NPS indicates a strong conviction in the long-term trajectory of the digital asset economy. This bold move by South Korea’s National Pension Service to significantly boost its crypto stock holdings is a landmark event. It underscores the growing confidence of major institutional investors in the future of the digital asset space. As more traditional financial entities explore and commit to crypto-related investments, we can anticipate a continued maturation and integration of this dynamic sector into the broader global economy. Frequently Asked Questions (FAQs) Q1: What is the National Pension Service (NPS) of South Korea? A1: The National Pension Service (NPS) is South Korea’s public pension fund, established to provide social security benefits to its citizens. It is one of the largest pension funds globally, managing vast assets for retirement and other social welfare purposes. Q2: Why are pension funds investing in crypto-related stocks? A2: Pension funds invest in crypto-related stocks for several strategic reasons, including portfolio diversification, seeking higher growth potential compared to traditional assets, and gaining exposure to the rapidly expanding digital economy and blockchain technology. Q3: Which specific companies did the NPS invest in? A3: As of the second quarter, the NPS held positions in Strategy, Coinbase, Block (formerly Square), and Robinhood. Strategy saw the largest increase in their holdings. Q4: Does this mean the NPS is directly buying cryptocurrencies like Bitcoin? A4: No, the article states the NPS boosted its “cryptocurrency-related stock holdings.” This means they are investing in the shares of companies that operate within or are closely tied to the cryptocurrency industry, rather than directly purchasing cryptocurrencies themselves. Q5: What are the potential risks for pension funds investing in crypto-related stocks? A5: Potential risks include the inherent volatility of the cryptocurrency market, evolving and uncertain regulatory landscapes, and the general market risks associated with equity investments. Pension funds must balance these risks with potential returns. Did you find this insight into South Korea’s growing crypto stock holdings fascinating? Share this article with your network on social media to spread awareness about institutional adoption in the digital asset space! To learn more about the latest crypto market trends, explore our article on key developments shaping institutional adoption . This post South Korea’s Astounding Crypto Stock Holdings Soar to $556.7 Million first appeared on BitcoinWorld and is written by Editorial Team
Nearly $4 billion vanished in July after a cluster of Chinese microcap stocks, all listed on Nasdaq, crashed more than 80% in just a few trading days. The names that tanked, Concorde International, Ostin Technology, Top KingWin, Skyline Builders, Everbright Digital, Park Ha Biological Technology, and Pheton Holdings, had all exploded in price shortly before the collapse. The trigger was an aggressive promotion on WhatsApp and social media, followed by coordinated dumping. According to the Financial Times, the seven companies together lost a total of $3.7 billion in market value. Every one of them had been promoted online in group chats that looked like legit investment forums. None of the companies were proven to have taken part in the manipulation, but analysts pointed to clear signs of pump-and-dump activity, the kind of scam that lures in retail traders, then leaves them holding worthless stocks while the organizers walk away with profits. Victims dumped after fake brokers hijack chats The FBI said complaints involving “ramp and dump stock fraud” tripled year-over-year. Investigators say scammers are now posing as legit firms or analysts to build trust on platforms like Facebook and WhatsApp, before dropping links to groups that pitch cheap Chinese stocks as can’t-miss bets. This has been tied to the surge in Chinese IPOs on US exchanges, especially in the microcap market, which has been flooded since last year by small firms from China and Hong Kong. Among those hit was Tia Castagno, a coach based in London, who lost all her savings after she joined a WhatsApp group following a Facebook ad. The group’s admins claimed they were a US investment firm. Tia was told to buy Ostin Technology, which then crashed. “There’s a feeling of emptiness in my stomach, and shame,” she said. “I keep questioning my judgment and remembering how I felt when the rug was pulled from under my feet.” Ryan Sweetnam, a lawyer at Cel Solicitors in the UK, said he’s representing “more than a hundred clients” who fell into similar traps involving Chinese penny stocks. One of those clients, a European investor, told the Financial Times they lost over $100,000 on Pheton Holdings. That investor joined a WhatsApp group that used a fake endorsement from a well-known US TV personality. “They asked if I was AI-bot early on… a good ruse. It looked like a kosher operation,” they said. “I almost fell off my chair [when the stock was dumped].” Noushin Mirshokraei, who owns a food and drinks business in Italy, said she lost $70,000 after being convinced on WhatsApp to buy Ostin ahead of a supposed partnership with a big US firm. “All the information that was given to us on WhatsApp groups was from fake participants,” she said. “The only real people in there were the ones being manipulated.” Warnings ignored as price crashes continue Matthew Michel, head of InvestorLink, has been raising the alarm for months. He said his team has flagged suspicious activity around microcap stocks every week for the past seven months. On June 9, Michel warned about Ostin, two weeks before the stock lost 94% in a single day. He also spotted red flags on Pheton three weeks before it tanked 95% in one session. One Wall Street trading firm, which uses InvestorLink’s tools and asked not to be named, has also reported concerns to Nasdaq and the SEC, saying some of these stocks were showing signs of manipulation. Michel’s breakdown of Ostin’s moves showed 12 Reddit accounts promoting the stock in the same two-hour window. He said three of the users were geolocated to Russia and Iran, which matches what his team has seen in other stock scams. Meta, which owns Facebook and WhatsApp, said it doesn’t want scam content on its platforms and claimed it’s working on better tools to catch it, including on-platform warnings, tech upgrades, and partnerships with banks and governments. On June 17, Regencell Bioscience, a Chinese herbal medicine firm, saw its shares jump 60,000% for the year, hitting a market cap of $38 billion, higher than Walgreens or Jefferies. That’s despite the company that reported a $4.4 million loss in 2024 when its stock dropped 83%. The pattern follows the same playbook: hype, spike, crash. Get $50 free to trade crypto when you sign up to Bybit now
Bitcoin (BTC), which reached a new ATH of over $124,000 a few days ago, has been falling ever since. Having reached a new ATH on August 14, BTC continues to experience declines as the above-expectation US PPI data continues to negatively impact investor confidence. Analysts say the influx of economic data from the US has dampened hopes for a Fed rate cut, strengthened the dollar and increased aversion to risky assets. At this point, Bitcoin has fallen by over 2% in the last 24 hours, dropping to $115,600. Bitcoin's decline also affected altcoins, with Ethereum (ETH), which had come close to breaking its previous ATH, falling 3% to $4,340, and XRP dropping 4% to $3. Other altcoins also experienced significant declines, with analysts weighing in on the decline and sharing their expectations. What Do Investors Await for Bitcoin? Speaking to The Block, Kronos Research CIO Vincent Liu stated that the decline was due to US data and declining investor confidence. “Bitcoin's recent decline is due to higher-than-expected US inflation and investor behavior that prefers to act cautiously in this environment. Higher inflation is dampening hopes of a Fed rate cut next month, strengthening the dollar and fueling risk aversion. Liu said that US Treasury Secretary Scott's statement that the government would not purchase new Bitcoin for its strategic reserves further eroded investor confidence and fueled the decline. Liu stated that investors are withdrawing from the cryptocurrency market amidst the negative macroeconomic environment, adding that investors are waiting for a new catalyst and improvement on the FED and macroeconomic front before coming back to crypto. What are the Critical Levels in Bitcoin? Is the Situation So Bad? However, BTC Markets Crypto Analyst Rachael Lucas said that the situation is not all bad for Bitcoin and crypto, and that spot ETF data suggests that the market decline is related to capital rotation rather than a collapse. “While daily spot Bitcoin ETF flows have declined modestly overall, institutional participation remains at a moderate level. This shows that investors are turning to lower-cost products rather than exiting the market completely.” Lucas stated that the key support levels for Bitcoin are the $115,000 and $112,500 regions, and that a break below these levels could pose a risk of a drop to $110,000. Finally, Lucas noted that the market's focus is on the Fed's Jackson Hole Symposium this week, adding that a moderate tone from the Fed could revitalize risk appetite and initiate an uptrend. *This is not investment advice. Continue Reading: Bitcoin's Decline Deepens! So What's Needed for the Decline to Stop and the Rise to Resume? What Are the Critical Levels for BTC? Top Analysts Answer!
Last week, Donald Trump reminded traders that he can still move markets with a tweet, a tariff, or a firing. Crypto whipsawed on his words and actions. This editorial is from last week’s edition of the Week in Review newsletter. Subscribe to the weekly newsletter to get the editorial the second it’s finished. Trump as