Mois : juillet 2025

Global crypto tax reporting still has major cracks — and tokenized stocks may be the catalyst that forces the system to catch up.

In recent weeks, platforms like Robinhood and Gemini have started offering tokenized stocks to users in the European Union. These blockchain-based derivatives mimic the price of real equities like Apple and Tesla and allow users to trade 24/7, free from the limitations of traditional market hours.

That might sound like a leap forward for accessibility and innovation. But if these products continue to gain traction, and firms like Galaxy Digital believe they will siphon liquidity from traditional exchanges, regulators will face growing pressure to close the reporting gap between crypto platforms and traditional brokers.

Despite the progress the crypto industry has made over the years, crypto tax reporting is still far behind compared to traditional asset exchanges in many parts of the world.

There is still an obvious gap. Take Australia. The Australian Stock Exchange (ASX) provides the tax office with structured data, including sale prices, dates, and proceeds, which is automatically pre-filled into users’ returns.

For crypto, the ATO’s approach is more like a gentle tap on the shoulder to its taxpayers. It presents a notification reminding users to check for taxable events, rather than a detailed pre-filled report. While the ATO knows you are active in crypto because crypto exchanges report you have an account, it does not have the same comprehensive oversight as it does with stock trading.

That approach may have been justifiable in crypto’s early days, when most activity was tied to speculative tokens or NFTs. But now, with platforms likely wanting to expand their offerings of tokenized stocks globally — which are not yet available in Australia but I dare say it is being considered — the lack of tax transparency becomes much harder to justify.

Governments can’t afford to let potential tax revenue slip through the cracks simply because they’re happening onchain. I believe as tokenized stocks start to gain more and more attention over the coming months, regulators will be scrambling to ensure they are prepared.

In the U.S., the IRS is already attempting to catch up. Its new crypto reporting rules, including the long-awaited Form 1099-DA, are set to take effect in 2026. These will require crypto brokers to report user transactions similar to traditional financial institutions.

Meanwhile, Robinhood is reportedly preparing to launch tokenized stocks for U.S. customers.

It raises a timely question…will that rollout coincide with the new IRS requirements?

On a global scale, the OECD’s Crypto-Asset Reporting Framework (CARF), also due in 2026, will enforce transaction data sharing across jurisdictions, similar to how banks comply with the Common Reporting Standard.

If tokenized stocks are going to mimic real equities then the tax data reporting around them needs to match accordingly.

The days of crypto existing in a regulatory gray zone are numbered. Whether platforms are ready or not, the era of full tax transparency is coming and tokenized stocks may be the turning point that forces it into reality.

I believe that moment will arrive within the next five years.

Ethereum introduced smart contracts to the world and spurred a Cambrian Explosion of innovation, including DeFi, NFTs, DAOs, and a universe of dApps. On July 30, the network will hit its 10 year anniversary.

The past decade of the ecosystem focused on proving Ethereum’s functionality and capabilities as well as enhancing efficiency through upgrades like The Merge, which marked the transition from Proof-of-Work to Proof-of-Stake. The next era requires a pivot to match the more mature ecosystem that it now supports — one that includes not just Web3 natives but financial institutions, governments, corporations, and people who don’t know what « yield farming » is but who may want to get a loan for their house with crypto collateral.

Amid increasing government and institutional involvement, the hope that crypto will contribute to creating a « free and open society, » an ideal originally expressed in A Cypherpunk’s Manifesto, is sometimes lost. For Ethereum to make good on that original promise, privacy must be a core tenet of its future.

Privacy is identity

Some degree of privacy is essential for financial safety and freedom. You wouldn’t want to reveal your net worth to the cashier every time you buy a latte or a slice of pizza, but this is essentially how crypto has been operating for the past decade — with the radical transparency of immutable ledgers recording every transaction publicly.

Not only does this level of transparency put individuals at risk for phishing and other attacks, but it also hinders the involvement of institutions that do not want to give their competitors an edge by revealing their activity. Though it is possible to retain pseudonymity through never interacting with a centralized platform, this is not practical for interactions that touch the real world.

People and businesses need to be able to interact with governments and banks through ID-linked accounts, and the key to enabling these types of interactions — without putting personal information in jeopardy to theft and misuse — is programmable privacy.

The solution is ZKP-powered technology

The solution is already here: Zero Knowledge Proof (ZKP)-powered smart contracts give users control over what information to share and with whom. With the programmable privacy enabled by ZKPs integrated into Ethereum at a foundational level, a world of applications are not just feasible but practical.

Products and services must comply with the regulatory requirements of each jurisdiction in which they operate. This includes collecting customer information in accordance with KYC guidelines, Countering-the-Financing-of-Terrorism (CFT) and AML laws. Typical KYC processes involve sharing some form of ID, such as a passport or driver’s license, along with personally identifying information (PII) like name, date of birth and address.

If captured by bad actors, this type of information can be used to target people in phishing scams and other types of attacks (see recent Coinbase data breach). Rather than requiring people to reveal their PII and make themselves and their data vulnerable to attack and theft, ZKP-powered solutions allow people to prove they are not operating out of sanctioned countries and to prove eligibility to participate, all without giving the platform their data and contributing to potential honey pots.

The possibilities enabled by ZKPs go well beyond compliance too. Airdrops currently suffer from Sybil attacks where AI bots beat out real human participants to give certain participants an outsized advantage. The same issue applies to decentralized governance. Decision making in a DAO cannot be truly fair and free unless it can be proven that the right number of votes are going to the right number of people — not bots. ZKPs offer a solution with « proof of humanity » via data provenance tools like zkPassport, zkEmail, and zkTLS.

Digital payments must provide the same privacy as cash. Payments in dollars, euros, and other sovereign currencies via stablecoins are another important factor in enabling mass adoption of DeFi applications, but this will never take off en masse without privacy guarantees. The same applies to decentralized mortgages, loans, and essentially any type of legal contract, which all require IDs to execute.

There are many other applications made possible with privacy as a core tenant of the Ethereum ecosystem. These include proving the authenticity of product or restaurant reviews, enabling secure digital voting, decentralized escrow services, carbon offsetting tracking, proving builder status on GitHub anonymously, and employment skill verification — all done in a secure, privacy-preserving way that doesn’t involve the sharing of sensitive PII to centralized providers.

Creating a culture that demands privacy

Though the technology exists to implement ZKP solutions today, challenges will need to be overcome before privacy is comprehensively reflected as a core value throughout the Ethereum ecosystem. Technical challenges with implementing ZKP-powered tech include the greater expense of ZKP transactions. Building ZKP-focused applications is also more complicated, posing a learning curve for builders. These are all solvable issues.

Other challenges are cultural: creating universal buy-in from the spectrum of participants in the value of privacy and coordinating the implementation of solutions across the tech stack, from protocol to wallet. There is also the misguided perception hurdle of privacy’s associations with illicit activity.

Changing technology is ultimately easier than changing minds, but the core ethos of crypto is, after all, a philosophical one — a technology that underpins a belief in freedom and the privacy of individuals and entities. If in another 10 years, we look back on another decade of Ethereum and can celebrate its role in enabling greater financial freedom, an emphasis on privacy will be key.

Vous aimez l’univers du gaming, le football et les NFT ? Vous allez adorer Sorare ! Avec Sorare 26, préparez-vous à la saison la plus ambitieuse jamais proposée : des récompenses record, une structure de compétitions enrichie, et un gameplay amélioré. Les équipes ont eu à cœur de satisfaire les utilisateurs, et tout a été pensé pour dynamiser l’engagement des joueurs. Et en plus, Sorare dévoile l’arrivée de la Ligue 1 dans les compétitions In-Season. Alors, êtes-vous prêts à devenir le meilleur manager ? On vous fait tout de suite découvrir les détails de la nouvelle saison 2025-2026.

Le Journal du Coin vous propose cet article promotionnel en collaboration avec Sorare.

La ligue 1 débarque sur Sorare 26

Pour ceux qui ne connaissent pas Sorare, il s’agit d’un jeu dans lequel les participants collectent des cartes de joueurs professionnels (football, baseball, et basketball), mettent en place des équipes et participent à des compétitions basées sur les performances réelles des joueurs. En étant un bon manager et en choisissant bien ses cartes, on peut gagner des points, et des récompenses intéressantes (cash*, Essence, expérience dans la vie réelle, etc.).

Ce qui distingue Sorare des autres jeux similaires, c’est que l’on est réellement propriétaire de ses cartes. En effet, Sorare utilise la technologie NFT pour garantir l’authenticité, la rareté et la traçabilité de chaque carte. Cet aspect ajoute donc une dimension financière et stratégique au jeu. Il est possible d’acheter, d’échanger, de vendre, de collectionner les cartes, mais aussi de les transférer vers d’autres plateformes. Par ailleurs, les cartes ont des niveaux de rareté différents, et forcément, cela joue sur la valeur de celles-ci.

La grande nouveauté pour la prochaine saison est l’arrivée de la Ligue 1 McDonald’s dans les compétitions In-Season. En tant qu’entreprise française avec une communauté francophone très active, Sorare concrétise un partenariat majeur. Les amateurs du jeu en ligne se réjouiront d’une autre bonne nouvelle : la Jupiler Pro League (première division de la Belgique) et l’Eredivisie (première division des Pays-Bas) auront droit à leur compétition dédiée. Et les équipes ont préparé d’autres excellentes surprises pour les managers !

La Ligue 1 McDonald’s arrive sur Sorare !

Nouvelle saison sur Sorare : un gameplay amélioré et des gains boostés

Sorare a décidé de fortement simplifier le gameplay pour les nouveaux arrivants. Cette décision a pour but de faciliter la prise en main et d’accélérer l’immersion dans le jeu. Rentrons à présent dans les détails de Sorare 26.

7 ligues pour un maximum de récompenses

Les compétitions In-Season se renforcent avec l’arrivée de la Ligue 1 McDonald’s. Sorare propose désormais 7 ligues (Ligue 1, Liga, Premier League, etc.), ainsi que des formats Challenger et Contender, qui regroupent plusieurs championnats. Résultat : un manager peut maintenant aligner jusqu’à 36 équipes par game week. En clair, plus de compétitions, et plus de chances de gagner. L’expérience Sorare ne s’arrête pas là, car d’autres formats comme l’Arena, ou la Championship (compétition mensuelle) seront disponibles. Et les joueurs pourront même participer à des missions quotidiennes pour amasser toujours plus de récompenses.

Si vous voulez débuter la saison de la meilleure des manières, commencez à prendre de l’avance sur les autres joueurs et profitez du lancement des nouvelles cartes In-Season en early access. Les cartes early access sont des cartes jouables comme les autres (achat, vente, compétitions, récompenses), mais avec un design temporaire, en attendant les photos officielles des joueurs. Elles seront automatiquement mises à jour avec leur visuel définitif début septembre. L’idée : permettre aux managers de jouer dès le début de la saison, sans attendre.

Le coup d’envoi a été donné sur la Jupiler Pro League

La Jupiler Pro League a déjà ouvert le bal le 17 juillet : c’est le moment idéal pour saisir les meilleures opportunités ! En plus, les nouveaux joueurs peuvent profiter d’une offre de bienvenue, avec 50 % de réduction sur le premier achat (jusqu’à 100 euros).

Le Leaderboard, le tableau de bord des champions

Le Leaderboard est le meilleur endroit pour gagner des récompenses. De fait, il est possible de gagner du cash* et des récompenses en Essence (utile pour le crafting), proportionnellement à ses résultats. L’objectif était de satisfaire les managers, et c’est chose faite. Les récompenses ont été nettement augmentées, et les joueurs ont la possibilité de gagner encore plus via les Hot Streaks. Pour faire simple, ce format récompense la régularité des managers. Si le manager atteint des objectifs prédéfinis, il obtient des récompenses en cash*. Or, les Hot Streaks sont maintenant disponibles dans les 9 compétitions In-Season. Et la cerise sur le gâteau : les gains sont doublés jusqu’à fin septembre pour les cartes Limited et Rare.

Augmentez vos récompenses avec les Hot Streaks !

Les joueurs ont tout intérêt à se pencher sur les Hot Streaks, car tout repose sur leurs performances personnelles, et non sur celles des autres. Un format idéal pour ceux qui veulent se challenger.

Un gameplay retravaillé en profondeur

Avec tous les changements proposés, les équipes de Sorare ont dû adapter les systèmes liés à l’Essence et au crafting de cartes. Le fonctionnement a été clairement simplifié pour dynamiser le gameplay, en offrant plus de liberté, et en renforçant le plaisir de collectionner. Voici quelques nouveautés concernant le crafting :

1 000 Essence pour crafter une carte

possibilité de renvoyer la carte si elle ne convient pas (contre une partie de l’Essence dépensée)

possibilité d’échanger de l’Essence contre des indices (ligue, nationalité)

plus de chances de recevoir une carte correspondant à l’origine de l’Essence utilisée

Autre nouveauté : le verrouillage de cartes va permettre d’augmenter ses récompenses. Plus on verrouille des cartes de qualité, et plus on obtient de points de verrouillages. Mais attention, là encore, il faudra être stratégique, car la durée de verrouillage est de deux semaines. Il faudra peut-être éviter de bloquer une carte Kylian Mbappé par exemple, car elle pourrait faire la différence dans les game week ! En revanche, les cartes Légendes – les joueurs mythiques ne jouant plus au football – pourraient être utilisées de cette manière.

Sorare 26 s’annonce exceptionnel pour les managers avec l’arrivée de la Ligue 1 McDonald’s. Les équipes ont souhaité mettre en place des récompenses record pour les joueurs, et le gameplay a été modifié pour offrir davantage de stratégie et de fun. Un moment idéal pour se lancer, bâtir son équipe et tenter de décrocher de belles récompenses. À vous de jouer !

*Les récompenses peuvent être distribuées en cash, ETH ou autres actifs numériques de valeur équivalente. Les récompenses peuvent varier et sont soumises à la législation applicable.

L’article Sorare 26 : le football fantasy muscle son jeu avec l’arrivée de la Ligue 1 ! est apparu en premier sur Journal du Coin.

By Omkar Godbole (All times ET unless indicated otherwise)

The past 24 hours have witnessed a rare dynamic: a major token moving on technology news rather than trading flows and general narratives of institutional adoption.

Solana’s native sol (SOL) experienced a notable spike in price volatility, rising as high as $200 for the first time since March after Jito Labs, an infrastructure company, announced Block Assembly Marketplace (BAM), designed to counter maximal extractable value strategies, such as front-running and sandwiching. SOL is now tussling with BNB for the No. 5 ranking among the world’s largest cryptocurrencies by market value.

Bitcoin (BTC), meanwhile, is still trading directionless below $120,000, while ether (ETH) pulled back after printing an indecisive Doji candle on Monday. That left the CoinDesk 20 Index of the biggest tokens 2% lower over the past 24 hours. The CoinDesk 80 Index, which encompasses the next 80 largest cryptocurrencies, fell 3.5%, most likely reflecting profit-taking in altcoins after their run-up in the past few days. The pullback comes on the heels of consecutive weekly gains that look to have set the stage for a notable bull run. (Check out the TA section).

« Solana continues to lead altcoin performance, briefly surpassing $200, boosted by the Block Assembly Marketplace announcement, which introduced enhanced transaction speed and improved network efficiency, » Valentin Fournier, lead research analyst at BRN, said in an email. « The broader market, however, failed to hold its momentum, reflecting increased uncertainty as ETF demand slows. »

While charts may point to further declines in the near future, the underlying market remains poised for growth, he said.

« Short-term technicals may pressure prices further, but we remain constructive on the cycle overall, » he noted, pointing to institutional and corporate demand as long-term bullish catalysts.

Speaking of institutional adoption, JPMorgan is reportedly considering offering loans backed by customer-held crypto assets, such as BTC and ETH, possibly starting as early as next year. Mexico-listed real estate firm Grupo Murano is planning to adopt BTC as a core strategic asset, with an initial investment of $1 billion and a five-year goal to build a $10 billion reserve.

In traditional markets, investors pulled money out of leveraged Strategy (MSTR) ETFs while bargain-hunting the 2x short ETF, a sign of reassessment of directional bets. The greenback was bid against major currencies, including the euro and the risk-sensitive Australian dollar. The Bank of Japan reportedly said it will provide U.S. dollar-denominated loans to domestic institutions against pooled collateral, a move aimed at addressing dollar funding stress. Stay alert!

What to Watch

CryptoJuly 23, 1 p.m.: Hedera (HBAR) mainnet upgrades to version 0.63. The process is expected to take about 40 minutes, during which network users may experience temporary disruptions.July 23-24: The Root Network (ROOT) mainnet will undergo a technical upgrade (v11.79.0) affecting NFT ownership data storage, requiring some 24 hours of downtime for NFT-related operations like minting, bridging, transferring and marketplace activity to support improved performance and scalability for large-scale collections.MacroJuly 22, 8:30 a.m.: Fed Chair Jerome H. Powell delivers opening remarks at the Integrated Review of the Capital Framework for Large Banks Conference in Washington D.C. Livestream link.July 22, 1:00 p.m.: Fed Vice Chair for Supervision Michelle W. Bowman speaks on innovation at the same conference. Livestream link.July 24, 8:15 a.m.: The European Central Bank will announce its interest rate decision, with President Christine Lagarde’s press conference following 30 minutes later. Livestream link.Main Refinancing Operations (MRO) rate Est. 1.9% vs. Prev. 2.15%July 24, 9:45 a.m.: S&P Global releases (Flash) July U.S. data on manufacturing and services activity.Composite PMI Prev. 52.9Manufacturing PMI Est. 52.5 vs. Prev. 52.9Services PMI Est. 53 vs. Prev. 52.9Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trading partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods.Earnings (Estimates based on FactSet data)July 23: Tesla (TSLA), post-market, $0.42July 29: PayPal Holdings (PYPL), pre-market, $1.29July 30: Robinhood Markets (HOOD), post-market, $0.30July 31: Coinbase Global (COIN), post-market, $1.35July 31: Reddit (RDDT), post-market, $0.19Aug. 5: Galaxy Digital (GLXY), pre-market

Token Events

Governance votes & callsAavegotchi DAO is voting on a $245,000 funding proposal to expand Gotchi Battler into a revenue-generating game with PvE modes, NFTs and battle passes, aiming to reverse declining player numbers, boost GHST utility and create sustainable rewards. Voting ends July 22.Ethereum Name Service DAO is voting on a proposal from Tally to enter a one-year renewable agreement to enhance ENS governance. Voting ends July 22.Rocket Pool DAO is voting to finalize Saturn 1’s implementation. Approval by a 75% supermajority will ratify key protocol changes, including new transaction designs and a potential revenue share to the pDAO treasury. Voting ends July 24.Lido DAO is voting on a new system that lets validator exits be triggered automatically through the execution layer, not just by node operators. It includes tools for different authorization pathways, emergency controls, and built‑in limits to prevent misuse. The update is expected to make staking more decentralized, secure, and responsive. Voting ends July 28.GnosisDAO is voting on a proposal to provide $30 million per year, paid quarterly, to Gnosis Ltd., now a non-profit, to sustain its ~150‑person team building critical Gnosis Chain infrastructure, products (like Gnosis Pay and Circles), business development, and operations. Voting ends July 28.Aavegotchi DAO is voting on funding three new features for the official decentralized application: a Wearable Lendings UI, Gotchis Batch Lending and a BRS Optimizer. Voting ends July 29.NEAR Protocol is voting on potentially reducing NEAR’s inflation from 5% to 2.5%. Two-thirds of validators must approval the proposal for it to pass, and if so it could be implemented by late Q3. Voting ends Aug. 1.July 29, 10 a.m.: Ether.fi to host a bi-quarterly analyst call.UnlocksJuly 25: Venom (VENOM) to unlock 2.84% of its circulating supply worth $12.48 million.July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $23.45 million.Aug. 1: Sui (SUI) to unlock 1.27% of its circulating supply worth $169.38 million.Aug. 2: Ethena (ENA) to unlock 0.64% of its circulating supply worth $19.75 million.Aug. 9: Immutable (IMX) to unlock 1.3% of its circulating supply worth $15.11 million.Aug. 12: Aptos (APT) to unlock 1.73% of its circulating supply worth $59.26 million.Token LaunchesJuly 22: Binance to open new trading pairs for Ethereum Classic (ETC), The Graph (GRT) and Oasis (ROSE).July 22: KuCoin to list Delphinus Lab (ZKWASM), NoNoCoin (NOC), and Snakes (SNAKES).July 23: Binance Alpha to feature Alliance Games (COA).

Conferences

The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited.

Day 2 of 2: Malaysia Blockchain Week 2025 (Kuala Lumpur)July 24: Decasonic’s Web3 Investor Day 2025 (Chicago)July 25: Blockchain Summit Global (Montevideo, Uruguay)July 28-29: TWS Conference 2025 (Singapore)Aug. 6-7: Blockchain.Rio 2025 (Rio de Janeiro, Brazil)Aug. 6-10: Rare EVO (Las Vegas)Aug. 7-8: bitcoin++ (Riga, Latvia)Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia)Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam)

Token Talk

By Shaurya Malwa

PENGU, the Solana-based memecoin linked to Pudgy Penguins, jumped 27% in 24 hours, outperforming every token in the top 100 by market cap and pushing its valuation past $2.4 billion.The move comes alongside a broader resurgence in NFT markets triggered by a single $10 million sweep of 45 CryptoPunks late Sunday by an unknown buyer, which sent Punk floor prices up 17% and went viral across X.As trader sentiment shifted, Pudgy Penguins’ floor price climbed 13% to 16.57 ETH ($63,150) — its highest in months — feeding directly into demand for its memecoin.Pudgy Penguins is an Ethereum-native NFT collection. It launched PENGU on Solana in December to reach new retail audiences. The strategy has paid off: The token is 310% over 30 days and sits at No. 59 by market cap.The NFT ripple also enveloped Bored Ape Yacht Club, which rose 23% to a 13.5 ETH floor, Prediction markets on Myriad give it a 64% chance of holding above 12.75 ETH by the end of the week.Collections like Moonbirds, Azuki, Cool Cats, Goblintown and CryptoDickbutts also posted double-digit floor price gains, marking the largest 24-hour moves for NFTs since early 2024.

Derivatives Positioning

Open interest in offshore perpetual BTC futures dropped over 0.5% today, a sign traders aren’t chasing the recovery from overnight lows under $116,000. For ETH, OI fell alongside price weakness, signaling profit taking. Perpetual funding rates for major tokens continue to reset to moderately bullish levels near 10% from the 20% and higher seen last week. Bull positioning in PUMP and FART is beginning to look a bit overstretched with annualized funding rates topping 40%.On Deribit, BTC risk reversals out to the August-end expiry have given up the call bias. ETH calls continue to be pricier across all tenors. Block flows over OTC network Paradigm featured call spreads including the December $140K/$200K BTC spread and the August $3.8K/$4.4K ETH spread.

Market Movements

BTC is up 1.26% from 4 p.m. ET Monday at $118,441.44 (24hrs: unchanged)ETH is down 2.55% at $3,661.35 (24hrs: -3.67%)CoinDesk 20 is down 0.76% at 4,094.63 (24hrs: -1.49%)Ether CESR Composite Staking Rate is up 9 bps at 3.04%BTC funding rate is at 0.0157% (17.2233% annualized) on OKXDXY is unchanged at 97.85Gold futures are down 0.27% at $3,397.30Silver futures are down 0.65% at $39.08Nikkei 225 closed down 0.11% at 39,774.92Hang Seng closed up 0.54% at 25,130.03FTSE is unchanged at 9,017.56Euro Stoxx 50 is down 0.64% at 5,308.76DJIA closed on Monday unchanged at 44,323.07S&P 500 closed up 0.14% at 6,305.60Nasdaq Composite closed up 0.38% at 20,974.17S&P/TSX Composite closed unchanged at 27,317.00S&P 40 Latin America closed up 0.4% at 2,588.28 U.S. 10-Year Treasury rate is up 1.8 bps at 4.388%E-mini S&P 500 futures are down 0.13% at 6,336.50E-mini Nasdaq-100 futures are down 0.29% at 23,274.00E-mini Dow Jones Industrial Average Index are unchanged at 44,545.00

Bitcoin Stats

BTC Dominance: 61.2% (1.04%)Ether-bitcoin ratio: 0.03089 (-3.63%)Hashrate (seven-day moving average): 911 EH/sHashprice (spot): $59.39Total fees 4.26 BTC / $503,658CME Futures Open Interest: 154,600 BTCBTC priced in gold: 35.0 oz.BTC vs gold market cap: 9.9%

Technical Analysis

The CoinDesk 80 Index has carved out a double bottom pattern, hinting at altcoin outperformance ahead. The double bottom is a bullish reversal pattern identified by two troughs separated by a recovery. A move through the trendline connecting the recovery is said to confirm the bullish trend change.

Crypto Equities

Strategy (MSTR): closed on Monday at $426.28 (+0.72%), +0.65% at $429.06 in pre-marketCoinbase Global (COIN): closed at $413.63 (-1.47%), +0.42% at $415.36Circle (CRCL): closed at $216.1 (-3.43%), -3.67% at $208.16Galaxy Digital (GLXY): closed at $27.45 (+1.18%), +1.89% at $27.97MARA Holdings (MARA): closed at $18.83 (-3.49%), +0.64% at $18.95Riot Platforms (RIOT): closed at $14.02 (+1.15%), +1.43% at $14.22Core Scientific (CORZ): closed at $13.27 (-0.6%), +0.45% at $13.33CleanSpark (CLSK): closed at $12.39 (-3.05%), +1.13% at $12.53 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $26.48 (-1.01%)Semler Scientific (SMLR): closed at $39.67 (-3.81%), -1.94% at $38.90Exodus Movement (EXOD): closed at $33.61 (-11.78%), unchanged in pre-marketSharpLink Gaming (SBET): closed at $25.25 (-12.89%), -1.92% at $24.76

ETF Flows

Spot BTC ETFs

Daily net flows: -$131.4 millionCumulative net flows: $54.59 billionTotal BTC holdings ~1.3 million

Spot ETH ETFs

Daily net flows: $296.5 millionCumulative net flows: $7.8 billionTotal ETH holdings ~5.05 million

Source: Farside Investors

Overnight Flows

Chart of the Day

The chart shows daily trading volume on the Solana-based decentralized exchange Raydium. The activity remains depressed despite BTC clocking record highs and altcoins catching a bid. That contrasts starkly with previous bull runs, which generated windfall gains for the DEX in terms of trading volumes.

While You Were Sleeping

Trump Media’s $2B Bitcoin Buy Challenges Halving Cycle Wisdom of BTC Peaking in 2025 (CoinDesk): The pro-crypto U.S. presidency may help bitcoin defy its usual boom-bust cycle, while Trump Media’s $2 billion investment could signal a strategic bet on monetary easing and dollar weakness.Cathie Wood’s ARK Loads Up on Ether Treasury Bet Bitmine Immersion (CoinDesk): Across its ETFs, ARK invested $116 million in ETH treasury firm Bitmine Immersion Technologies (BMNR) with a 4.4 million-share purchase while cutting its Coinbase stake by $90.6 million.Bank of England Considers Shelving Plans for a Digital Pound (Bloomberg): BoE chief Andrew Bailey remains unconvinced a retail CBDC is needed, with a final decision on the project deferred until the current design phase concludes.JPMorgan Explores Lending Against Clients’ Cryptocurrency (Financial Times): The bank may begin lending against bitcoin and ether in 2026, people familiar with the plans said, following earlier steps to accept crypto ETF holdings as collateral.Solana Breaks $200 as Jito’s BAM Draws Bullish Bets (CoinDesk): A new system for private, programmable transaction sequencing has boosted confidence in Solana’s infrastructure, drawing investor interest amid rising developer activity and optimism around long-term network utility.How China Curbed Its Oil Addiction — and Blunted a U.S. Pressure Point (The Wall Street Journal): Fearing U.S. disruption of foreign oil supplies, China poured billions into electric-vehicle production and extreme-depth drilling to replace imports with homegrown energy and reduce economic vulnerability.

In the Ether

Les altcoins poussent vers le nord à mesure qu’ethereum se rapproche des 4 000 dollars. XRP et Solana sont deux candidats favorables à de très belles performances dans un futur plus ou moins proche, cela dépendant toutefois de la dynamique globale du marché. Découvrons ensemble les niveaux à surveiller pour ces deux actifs.

Ethereum : la cryptomonnaie à suivre absolument sur les prochains mois

Pour le moment, la tendance sur ethereum est très clairement haussière avec l’unité de temps 3D. Aux portes des 4 000 dollars, le top départ du Bull Run des altcoins pourrait être bientôt donné. Évoluant dans la partie supérieure du volume profile, indiquant les volumes depuis le mois de mars sur les différents niveaux, le plus dur est fait.

Ainsi, si les acheteurs parviennent à se manifester suffisamment rapidement, les prochaines semaines pourraient s’avérer très intéressantes. Avec une extension aussi rapide, attention toutefois à une légère correction à court terme. Un retour autour des 3 300 dollars permettrait à ethereum de temporiser avant de reprendre son chemin haussier.

Il joue un rôle essentiel pour la globalité du marché. Un ETH en bonne posture, proche de son ATH ou en découvert de prix, signifie que le marché des altcoins évoluera au vert. Les regards se tournent vers XRP et Solana. Ces deux actifs ont le plus de chance d’obtenir un ETF spot à ce jour pour 2025 (95% selon Bloomberg).

XRP à 20 dollars : est-ce possible à long terme d’y arriver ?

Actuellement, XRP évolue autour des 3,5 dollars. Malgré un début de journée dans le rouge pour le marché, il résiste plutôt bien à la pression vendeuse. Une dynamique alimentée en partie par l’espoir d’un ETF XRP spot d’ici les prochaines semaines, pour faire suite au 1er ETF XRP ayant été approuvé sur le NYSE la semaine dernière.

Arriver à 20 dollars, au regard de l’offre en circulation (proche des 60 milliards d’unités), cela signifierait une capitalisation (non diluée) supérieure à 1 180 milliards de dollars, soit un peu moins de la moitié de ce que représente bitcoin à ce jour.

Bien que l’avenir puisse s’avérer intéressant avec la sortie du processus juridique face à la SEC et la demande de la National Bank Charter auprès de l’OCC, un XRP à 20 dollars reste tout de même trop élevé à ce jour. Toutefois, réévaluer les objectifs à 10 dollars est un scénario optimiste mais possible en cas d’adoption globale du XRP Ledger et du stablecoin RLUSD.

Solana à 500 dollars : des perspectives alimentées par l’essor des memecoins

Pour Solana, la situation est différente et les objectifs peuvent être plus conséquents. Un SOL à 500 dollars signifie une hausse de 2,5 fois de la capitalisation actuelle du cours.

Avec une blockchain bien établie, un positionnement comme hub des memecoins, des launchpads leaders comme LetsBonk ou PumpFun et son intégration progressive comme actif de réserve, beaucoup s’attendent à une jambe haussière en décalage avec ethereum.

Les donnes on-chain sont très positives, le réseau s’apprête à former un nouvel ATH après celui du début d’année 2025 (11,5 milliards de dollars). Si la liquidité continue d’affluer, et que le premier ETF SOL spot voit le jour, les 300 dollars pourraient très bientôt appartenir au passé. Cependant, cela ne relève que d’une analyse subjectives des potentiels catalyseurs, et qu’il faudra surveiller activement l’évolution des supports et résistances sur XRP et SOL.

Sur le même sujet :

BNB explose à la hausse : Nouveau ATH en cours

« Je pense ne jamais m’en remettre », Il se fait hack toutes ses cryptomonnaies avant le Bull Run ethereum

Ethereum fête 10 ans : découvrez le NFT officiel lancé pour l’occasion

The post XRP à 20 dollars et Solana (SOL) à 500 dollars ? Les niveaux techniques à surveiller pour ces altcoins appeared first on Cryptonews France.

Beaucoup rêvent de devenir millionnaire en investissant dans les cryptomonnaies. Des performances similaires aux cycles de 2017 et 2021 sont espérées, mais n’ont pas encore pris place. Pour cette année, avec la fragmentation de la liquidité et des narratives, naviguer dans la crypto est plus complexe que jamais. Dans cet article, découvrez des signaux à surveiller absolument durant les prochains mois.

Ethereum : indispensable dans le Bull Run pour les altcoins

La seconde cryptomonnaie du marché joue un rôle très concret dans la dynamique des altcoins. Historiquement, lors d’une jambe haussière sur ethereum, les altcoins évoluent dans son sillage et inscrivent de très belles performances.

Aux portes des 4 000 dollars, cette zone est la dernière résistance majeure avant un retour en direction de l’ATH. Si ethereum maintien une telle tendance durant les prochaines semaines, les altcoins pourraient tirer leur épingle du jeu et attirer la liquidité. Les données on-chain démontre une hausse de la liquidité en DeFi et une explosion de la TVL de différents protocoles.

Bitcoin dominance : essentiel pour surveiller le déplacement des liquidités

La dominance de bitcoin est en chute libre sur l’unité de temps 3D. Probablement l’une des plus fortes baisses sur ces deux dernières années. Aux limites de la MA100, une clôture définitive sous cette moyenne mobile serait une première depuis début 2023, après un faux-espoir en fin d’année dernière.

Ce graphique est essentiel puisqu’il détermine la tendance qui est en place au sein du marché. Une BTC.D qui plonge vers le sud témoigne d’un déplacement des liquidités vers ethereum et les altcoins. Pour l’instant, ETH mène la danse. Si BTC continue son range et qu’ethereum passe les 4 000 dollars, nous pourrions assister à une très belle envolée des altcoins durant les prochains mois.

TOTAL3 : un graphique à surveiller attentivement pour les altcoins

Quoi de mieux pour suivre la tendance des altcoins que le graphique de la capitalisation du secteur ? En excluant bitcoin et ethereum, nous obtenons $TOTAL3. Évoluant avec un temps de latence, les 930 milliards de dollars ont été dépassés. Cela marque une tendance qui est clairement haussière après la période de latéralisation sous résistance durant plusieurs mois.

En route vers l’ATH autour des 1 130 milliards de dollars, les altcoins se portent à merveille et pourtant, cela ne fait que quelques jours qu’ethereum opère une forte jambe haussière. La BTC.D est autour des 60 %. En s’imaginant un retour sur les creux de 2021, cela présage de bonnes perspectives. Un franchissement des sommets pourrait donner le top départ d’un Bull Run majeur pour les altcoins.

Les altcoins pourraient accélérer la hausse avec les ETF

La régulation dispose d’une grande influence sur le secteur crypto. À ce jour, deux points sont attentivement surveillés par les investisseurs :

L’approbation du staking dans les ETF ETH spot (demandé réalisée récemment par BlackRock).

Le déploiement des premiers ETF spot d’altcoins. Les plus attendus sont XRP et SOL, dont les chances d’approbation s’élèvent à 95 % d’ici la fin d’année 2025 d’après les analystes de Bloomberg.

Ainsi, au regard de la réussite des ETF BTC et ETH, le combo du staking intégré et les premiers véhicules d’investissements sur des altcoins pourrait confirmer définitivement un altcoin summer avec de belles performances en août.

Le rang des applications crypto sur l’App store en plein Bull Run

Le dernier critère que nous vous invitons à surveiller, c’est l’activité des applications crypto sur l’App Store et le Play Store. Effectivement, à mesure qu’elles augmentent dans le classement, cela signifie une arrivée progressive des particuliers.

Bien que cela puisse être en décalé, cela donne une très bonne idée de l’avancée du cycle. En fin d’octobre 2021, Coinbase était l’application la plus téléchargée aux États-Unis. Quelques jours plus tard, le sommet du Bull Run fut marqué. Actuellement, Coinbase se rapproche du TOP 100. L’arrivée des particuliers n’est encore qu’à ses débuts ?

Devenir millionnaire n’est pas aussi simple que cela puisse paraître. Bien que vous ayez entre vos mains de bons indicateurs, cela ne suffit pas, demandant très généralement de nombreuses années d’investissement, en partant du principe de ne pas se brûler les ailes.

Sur le même sujet :

Ethereum fête 10 ans : découvrez le NFT officiel lancé pour l’occasion

ChatGPT prédit le prochain XRP qui pourrait faire x100 pour le Bull Run altcoins

Le Salvador aurait menti sur ses réserves de Bitcoin

The post Devenir millionnaire facilement grâce aux altcoins ? 5 signaux pour le Bull Run crypto 2025 appeared first on Cryptonews France.

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.

Data from CoinShares continues to highlight the gap in investor enthusiasm between the U.S. and Hong Kong when it comes to bitcoin (BTC) ETFs and other listed digital asset products.

Digital asset products in the U.S. generated $4.36 billion in inflows last week, accounting for nearly the entire global total of $4.39 billion, according to CoinShares. In Hong Kong, inflows into crypto ETFs totaled just $14.1 million (USD).

The disparity comes despite strong demand for exchange-traded products in Hong Kong overall. From July 14 to 18, Hong Kong-listed ETFs saw approximately $880 (USD) million in net inflows, according to data from Hong Kong Exchanges and Clearing. Most of this capital was invested in equity-focused funds that track local stocks and sector themes, with crypto accounting for only 1.6 percent of total ETF inflows.

Even within the U.S., where equity ETFs saw net outflows of $11.75 billion and bond funds brought in $5.55 billion, crypto funds defied the trend by drawing in capital at record pace.

The contrast highlights the increasing importance of crypto as a distinct asset class in American portfolios, whereas in Hong Kong, investors continue to view it as a niche asset class.

However, a path may be forming that could shift the dynamic.

At Consensus Hong Kong in February, Yifan He, CEO of Red Date Technology, suggested a potential regulatory route for mainland Chinese investors to gain exposure to crypto, without breaking mainland China’s crypto ban.

Speaking on stage, He pointed to the Qualified Domestic Institutional Investor (QDII) program, which already allows select mainland investors to purchase U.S.-listed ETFs using RMB. A similar structure, he argued, could be adapted to Hong Kong’s spot bitcoin and ether ETFs.

Under this model, mainland investors would not directly hold crypto, but would gain exposure through licensed intermediaries, mirroring how they currently trade Hong Kong or overseas equities.

« If they have a system for you to buy and sell in RMB, but never move money outside China, then it’s just another regulated investment product, » He said.

While capital controls remain the core barrier, the proposal reflects a changing tone in Beijing.

« I see some signal from financial regulators, » He said at the time. « They’re beginning to talk about bitcoin, saying we need to pay more attention and do more research on digital assets. »

This would not amount to China unbanning crypto, but rather integrating it within an approved sandbox. Such a move could dramatically increase participation in Hong Kong’s crypto ETFs, which have struggled to gain traction despite strong infrastructure and regulatory clarity.

For now, though, U.S. dominance in crypto fund flows remains unchallenged. However, if Beijing were to permit crypto exposure through Hong Kong’s ETFs, the flow dynamics in the region could look significantly different in the years ahead.

Market Movements:

BTC: Bitcoin (BTC) is currently trading above $117,000, remaining locked in a tight range.

ETH: Ethereum (ETH) surged near $3,800 on Monday, up 13% year-to-date, as analysts pointed to signs of a potential turnaround after months of underperformance.

Gold: Gold rose 1.2% to $3,391.90 on Tuesday, supported by a weaker dollar and growing expectations of lower interest rates.

Nikkei 225: Japanese stocks rose as markets reopened Tuesday, with the Nikkei 225 up 1.12% to 40,254.18, as investors reacted to the ruling party’s loss of its upper house majority in weekend elections.

S&P 500: US stocks closed mixed Monday, but the Nasdaq and S&P 500 still hit fresh record highs.

Elsewhere in Crypto:

Robinhood CEO Acknowledges OpenAI Crypto Stock ‘Controversy’, But Is Doubling Down (Decrypt)Pudgy Penguins CEO predicts NFT mania, crypto gaming comeback (Blockworks)BitGo Files to Go Public as Crypto Market Surges Past $4 Trillion (CoinDesk)

At the end of this month (July), the Ethereum public blockchain turns 10 years old. An inordinate amount of time in the world of crypto has been spent on discussing whether or not Ethereum will succeed and become the foundation for the next iteration of global commerce and finance. All this speculation is wasted effort. Ethereum has already won. The losers just don’t know it yet.

You may be tempted to discount my opinion because I’m a notorious ETH « maxi » and have been for a little over a decade now. Hear me out anyway.

Side note: Yes. Really. Over a decade. Vitalik Buterin got me started on Ethereum and in my prior incarnation as an IBM executive, I showed off IBM’s first foray into blockchain technology at CES in January 2015. That’s a story for another day, but I’ve been in this since the beginning.

Blockchains are, first and foremost, technology platforms. We talk about them like they are financial systems, but they behave, and they grow, like technology platforms. And if we look at the history of technology platforms, we can see some clear patterns emerging that Ethereum tends to follow.

First, it’s a winner-take-nearly-all business. IBM has 100% of the mainframe software business. Windows has 90% of desktops. Android covers about 90% of all smartphones. TCP/IP is about 99.9% of all network traffic.

This pattern repeats itself because computing platforms have two factors going in favor of a winner-take-all business model. First, zero marginal cost from adding users. Each additional user costs nearly nothing, so networks can add new users for free.

Second, network effects mean that more users make networks more valuable and, as a result, it’s extremely hard (but not impossible) for laggards to catch up with the leaders.

In the early days of platform development, it’s often easy for winners to come and go. Network effects aren’t big enough matter, and better products can sweep aside prior leaders. We saw this early in the world of PC and mobile devices as early leaders (Apple II, Commodore 64, and later with Nokia and Blackberry smartphones) were swept aside by impressive new platforms.

In all those cases, however, the platform « type » was itself very new (less than a decade old) and broad adoption was also relatively low (under 10% of the public). With Ethereum’s official 10th birthday at hand, we have passed by both of those metrics. By many accounts more than 20% of the U.S. population owns crypto and blockchain platforms are more than a decade old now.

There are, from a technological standpoint, better blockchains than Ethereum out there. One of the foundation lessons of global standards is this: the best technology never wins. From video cassettes to DVDs to mobile computing, platforms gain traction when they get « good enough » for a certain set of use cases like payments of NFTs. Many of the most successful platforms never really solve all their key issues and they often get shoe-horned into use cases for which they were never really intended.

Case in point: the internet itself was never designed for voice and video and has never really fixed issues with quality-of-service management. But it’s good enough and we all have it, so that’s how we make calls these days.

Yeah, but?

So, if Ethereum really won, you might be asking, why are there still so many other thriving blockchain ecosystems? I think there are two answers.

First, big network and technology leadership wins don’t happen instantly. They take years to manifest fully and in the fog of battle, it can be hard to see who is pulling ahead.

With Ethereum’s transition to proof-of-stake and the creation of the L2 ecosystem, it’s clear the network has seen off its biggest challengers and is steadily building on an already dominant position. Number two players will come and go, but turning back Ethereum’s dominance now looks nearly impossible.

Ethereum had a near-100% share of the smart contract ecosystem for a long time. As other chains came online, Ethereum’s share of key measures like the DeFi ecosystem fell significantly, bottoming out at around 50% in 2023. Since then, it has stabilized and started to rise again, fueled by the success of the L2 ecosystem. No other single ecosystem has even a 10% share of the total market.

This isn’t an unusual pattern. Microsoft Windows became the largest desktop computing platform in 1984 after a fierce fight in a crowded market. At that time, it still faced intense competition from Commodore, Atari, Apple and others. NeXT, Commodore, Atari, and the Apple II continued to be sold well into the 1990s. BlackBerry sales actually kept rising for the first two years the iPhone was available. Only the Mac survived the long-term PC competition.

In the mainframe business, the exit path was even longer. IBM came to dominate the mainframe business after the release of the System/360 in 1964. Unisys, IBM’s last global competitor created by the merger of Burroughs and Sperry (of Univac fame), manufactured their last proprietary hardware mainframe in 2015.

Secondly, the structure of the blockchain ecosystem itself will further extend the « shelf-life » of those networks that failed to gain traction. Most of these are run by foundations, not corporations. As such, there are no shareholders who can demand a return on their capital. Consequently, there’s no real exit pressure on chains that haven’t succeeded. Expect them to keep on releasing minor updates and mountains of Ethereum-related-concerns on X for the foreseeable future.

If there is one final lesson we should take from the world of technology standards, it is this: once locked in place, it is astonishingly difficult and exceedingly rare for the leaders to lose their top spot. Windows has been the winner on the desktop since 1984. IBM has won the data center since 1964. I’m willing to bet that Ethereum will still be the world’s preeminent blockchain ecosystem in 50 years.

Disclaimer: These are the personal views of the author and do not represent the views of EY.

PENGU, le NFT de Pudgy Penguins sur Solana, explose après un sweep record de CryptoPunks. Tous les détails dans cet article.

L’article NFT : Le PENGU cartonne après une vague d’achats jamais vue est apparu en premier sur Cointribune.

The non-fungible token (NFT) market is showing signs of life again, seeing a spike in sales and prices for top collections after lying fallow for years.

In the past 24 hours, buyers have scooped up hundreds of NFTs from high-profile projects, sending floor prices soaring and reigniting talk of a broader market comeback.

CryptoPunks’ floor price jumped 17% to 47.75 ETH, or about $183,000 . Over 140 punks were purchased in a single day, a volume that hadn’t been seen this year.

Pudgy Penguins, which recently received a boost after Coinbase changed its avatar on X to a Penguin, saw a 12% bump to 16 ETH, according to NFTPriceFloor data.

Another top gainer, Infinex Patrons, rose 26% to 1.4 ETH. Bored Ape Yacht Club, and Chrome Squiggles were two other collections seeing major gains, adding 20% and 34% respectively.

These collections weren’t the only ones seeing gains. The wider NFT market, according to CoinGecko data, rose 29% rise over 24 hours to $6.82 billion. Sales volume reached $50.4 million, well above January’s peak of $6 billion. NFT sales volumes had been plateauing around $400 million a month this year, CryptoSlam data shows.

The sector saw a major boom back in 2021, but has since endured a years-long bear market. Earlier this year, a once leading NFT marketplace, X2Y2, shut down after trading volumes dropped by more than 90% from their peak.

Other NFT marketplaces pivoted to token trading. Magic Eden acquired trading app Slingshot in April, and OpenSea bought Rally as part of its pivot.