Is There a Future for DAOs?

The cracks in DAO governance are beginning to show. In the span of a few weeks, two high-profile players—Solana-based exchange Jupiter and NFT conglomerate Yuga Labs—abandoned their DAO structures, issuing blunt statements about dysfunction and disillusionment.

Jupiter cited a “breakdown in trust,” while Yuga CEO Greg Solano called Apecoin DAO “sluggish, noisy and often unserious governance theater.”

While hundreds of DAOs still operate across crypto with thousands of participants, questions are being raised over whether DAOs, once the beating heart of crypto’s decentralization dream, can flourish in this cycle.

DAOs, decentralized autonomous organizations, are blockchain-native governance systems that allow token holders to vote on treasury allocation, protocol upgrades, and more. In the last decade of crypto experimentation, they were heralded as the future of community capitalism. Now, their limitations seem to be catching up with them.

“I absolutely understand the frustration with sluggish, broken governance, » said Kollan House, founder of MetaDAO. “This is the problem with token voting.”

From Political Idealism to Tokenized Theater

Originally celebrated as a way to “give a voice to the voiceless,” DAOs have often been criticized for being a legal and financial gray area. By issuing “governance tokens,” many projects found a way to circumvent securities laws, without delivering the accountability or utility those tokens promised.

Today, CoinMarketCap lists 273 DAO tokens with a combined market cap of over $21 billion. But those numbers are misleading. Nearly 50% of that value is concentrated in just three tokens—Uniswap (UNI), Aave (AAVE), and Bittensor (TAO). At the other end of the spectrum, 63 DAO tokens are worth less than $1 million, effectively dead-on-chain.

Take Mango Markets for example. It was once a bustling decentralized exchange that notched more than 1,000 governance proposals. It now has zero activity after the platform shut down in February, but $19 million worth of MNGO tokens still exist – completely useless.

A Broken Model?

DAOs were often criticized for “governance theater”—in other words, for appearing to be decentralized and governed by the crowd, but actually being controlled or dictated by a small number of people.

DAOs required large numbers of people to participate in order to be effective. But numbers were often lacking, leading to disillusionment. “To vote on anything, you need a quorum. But to reach quorum, you need incentives. And when you start incentivizing voting, you get mercenary participation. Everything works against itself from the start,” House said.

Joshua Tan is executive director of Metagov, a research group focused on self-governance.

“There are reasonable questions about the value DAOs are actually providing,” Tan, co-author of a recent report on DAO M&A, told CoinDesk. “Grant systems are often inefficient. Governance can be a mess. Still, this doesn’t mean DAOs are done. It just means they’re changing.”

In Tan’s view, the struggles of Jupiter and Yuga Labs are symptomatic of deeper systemic issues. But governance failures at particular projects shouldn’t be confused with a failure of the DAO concept itself.

Read more: Joshua Tan, Jillian Grennan and Bernard Schmid – The State of DAO M&A

“If you compare billion-dollar DAOs to billion-dollar public companies, sure, DAOs look inefficient,” he said. “But so do most corporate boards. Governance is a cost center—not a profit center. That doesn’t mean it’s dispensable.”

Not Dead—But Mutating

Far from writing off the concept, Tan and House both see a bright future for DAOs—albeit one that looks radically different. House points to futarchy, a governance model where decisions are made based on prediction markets, as a promising evolution. MetaDAO is actively building a fundraising platform rooted in that vision.

“We’re solving issues with liquidity, decision making and ownership,” House said. “The goal is to build the organizations of the future from the start.”

Tan is focused on infrastructure—developing standards for DAO mergers and acquisitions (M&A), governance tooling, and valuation metrics through Metagov and DAOstar.

“We need to build muscles that TradFi has had for decades,” Tan said. “That includes M&A workflows, legal frameworks, and robust metrics—not just relying on TVL.”

The regulatory gray zone is another ongoing headwind. While some jurisdictions like Wyoming, Utah, and the Cayman Islands have built legal wrappers for DAOs, others lag behind. And even where structures exist, they’re often expensive and impractical for small teams.

“We’re still seeing two to three DAO registrations per week in the Caymans,” Tan noted. “These are $50K setups. The fact that people are paying that much tells you DAOs still offer unique advantages.”

DAO Consolidation is Coming

Both experts agree: a shakeout is inevitable.

“We’ll probably end up with 50 to 100 vibrant DAOs,” Tan said. “Just like after the ICO boom, most will disappear. And that’s fine.”

What remains will be leaner, better governed, and—hopefully—less performative.

Tan sees a future where DAOs don’t disappear, but merge into broader organizational strategies, particularly in the merging of TradFi and DeFi. DAOs could become tools in the corporate stack—used when necessary, ignored when not.

“The underlying tech, smart contracts, is here to stay,” he said. “Not everyone wants the ‘movement’ version of DAOs. But the infrastructure layer is decentralized. It’s modular. Companies will choose what fits.”

What Happens Now?

A good governance system is invisible when it works—and painfully obvious when it doesn’t. That truism now haunts the DAO ecosystem.

“The dream of community-led protocols isn’t dead,” said House. “But we’re still discovering the right way to build it. And failure is part of that.”

“Governance can’t be optional. Without it, you get chaos. But that doesn’t mean the system we’ve built so far is the right one,” Tan said.

It remains to be seen whether more DAOs will follow Yuga and Jupiter in shutting down community governance, but one thing is clear. DAOs may be struggling, but they aren’t dead, for now.

Read more: What Is a DAO?

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U.S. House Ditching Its Stablecoin Bill to Back Trump’s Choice From Senate

If the U.S. House of Representatives manages to reach a floor vote on the Senate’s stablecoin bill next week, it could result in President Donald Trump fulfilling at least half of his mission to deliver new laws for the crypto sector this summer.

That’ll be a highlight among a bundle of actions during a period labeled « Crypto Week » by lawmakers hoping to record significant legislative wins for the sector. But the bigger-ticket item is the Digital Asset Market Clarity Act to establish first-ever federal regulations to oversee the wider U.S. crypto markets. That effort is also going to spend some more immediate time in the spotlight during a Senate hearing on Wednesday as that chamber continues its crypto momentum after notching a major recent win with passage of its stablecoin bill.

The Senate bill to regulate stablecoin issuers, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, will be tackled without an effort to meld its language with the House’s similar legislation, a person familiar with the House’s planning confirmed. A yes vote in the House would send it to Trump’s desk to be signed into law, where it would become the first major law to regulate the U.S. crypto space.

That development would effectively abandon the House’s own Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, as the House bends to the momentum demanded by Trump and its Senate counterparts. Politics is speeding beyond recent suggestions from Representative French Hill that the two chambers could iron out material differences between the bills to find a « common constructive landing place. »

Clarity

As GENIUS rises toward a potential status as a second major Trump legislative accomplishment in as many weeks — joining his budget push that is already energizing significant elements of the president’s agenda — the House will redirect its major focus on the Clarity Act that’s the bigger hit in the one-two crypto punch weighed by Congress. At his White House crypto summit earlier this year, Trump set an ambitious August deadline for two related pieces of crypto legislation: the stablecoin bill and rules for the structure of crypto markets. When the Senate recently passed its legislation to govern the issuers of stablecoins (such as Tether’s USDT and Circle’s USDC), the president called for the House to sign off on that bill right away rather than pushing its own language, and he seems to be getting his way.

Senator Bill Hagerty, the backer of the GENIUS Act, said in a statement, « I look forward to enacting the GENIUS act into law, and to working with my colleagues to move the CLARITY act through the Senate in short order. »

While the Senate Banking Committee Chairman Tim Scott had declared a September 30 deadline for market structure legislation to be cleared through the Senate, it was unclear whether the chamber would lean into its own legislation or borrow more heavily from the House’s Clarity Act. Scott said that Clarity would be a « strong template for us to move forward on. »

However, Scott’s committee can’t move forward alone and also needs the Senate Agriculture Committee to agree to the approach, and that panel is so far trailing. A spokesperson told CoinDesk that Chairman John Boozman is keen to install the Commodity Futures Trading Commission as a chief crypto regulator and that his committee will pursue a hearing sometime this month, though its calendar remains bare.

So far, House lawmakers have cleared the Clarity Act through the relevant committees, and a vote from the overall House would send it over to the Senate for consideration. If Trump follows his game plan with GENIUS, he may urge the Senate to just take up the House legislation without putting its own spin on the language and delaying the process. But in most legislative matters, the Senate’s more difficult road for passing bills tends to put it into the driver’s seat as efforts near the finish line.

Hill said he’d be « ready to work alongside the Senate as they work to advance standalone market structure legislation by the end of September. »

A digital assets advocacy group, Stand With Crypto, sent a letter to all the House lawmakers this week calling form them to get behind the Clarity Act, arguing that the bill « will not only enable and empower developers to innovate, but also protect consumers through choice, foster greater participation in the blockchain economy and strengthen national security. »

And industry insiders including Ripple CEO Brad Garlinghouse were set to make a case for legislation at Wednesday’s Senate hearing.

« Once market structure legislation for digital assets becomes law in the U.S., this will catalyze a new era of U.S. competitiveness and unlock efficiencies in financial transactions — dramatically helping consumers and businesses alike, » Garlinghouse contended in the testimony he submitted to the Senate Banking Committee.

Crypto Week is also set to tackle what’s been a shared grievance of the crypto industry and congressional Republicans: the idea that the U.S. could ever issue a central bank digital currency (CBDC). The Anti-CBDC Surveillance State Act would block such an instrument from ever being created by the Federal Reserve, with its advocates arguing that a U.S. token could let the government spy on citizens’ finances, though there has been no serious U.S. effort underway to launch such a coin to compete with other jurisdictions such as China and Europe.

What’s next

The GENIUS Act is widely expected to pass the House, and an earlier version of the CBDC bill already did last year. If the market structure legislation also passes the House, as a predecessor bill known as Financial Innovation and Technology for the 21st Century Act (FIT21) easily did in the last session, the Senate becomes the last hurdle for the crypto industry’s top priority.

Still, it’s not a done deal there. The Senate generally needs 60 votes to pass a bill of this kind. While GENIUS got a whopping 68-30 approval, many of the Democrats who joined Republicans to pass the stablecoin bill shared reservations about the coming market structure effort.

Some influential Democrats, such as Senator Elizabeth Warren, hold a lot of sway over their party, and they’ve argued for months that the market structure effort leaves regular people insufficiently protected and poses national-security concerns. However, the more prominent complaint from Democrats is that President Trump’s heavy involvement in the crypto industry poses a potential conflict.

Though his representatives have defended his family’s deep ties to businesses that include involvement with memecoins, stablecoins, non-fungible tokens (NFTs), digital wallets and crypto exchange-traded funds (ETFs), Trump’s Democratic critics say the president’s ties amount to high-level corruption, and the lawmakers are pushing legislative provisions to ban senior government officials from such connections to the sector.

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UK Crypto Users Could Face $408 Fine for Failure to Provide Certain Information

Cryptocurrency users in the U.K. will be required to provide certain information to service providers relating to their digital asset activity from Jan. 1 2026, or risk a fine.

Users must provide their full name, date of birth, address, country of residence and tax identification numbers.

Failure to do so could land them a penalty of up to 300 pounds ($408).

His Majesty’s Revenue and Customs (HMRC) said the information will help users’ crypto activity be linked to their tax record to work out how much tax is payable.

The requirement pertains to users’ dealings with all businesses classed as crypto service providers. These include exchanges, wallet apps, non-fungible token (NFT) marketplaces and services that help users manage their crypto portfolios.

Read More: Crypto for Advisors: It’s Tax Time

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Cryptos aux USA : Coinbase et le secteur demandent au Congrès de voter le CLARITY Act

Coinbase pousse à la clarté réglementaire. La branche de lobby politique de Coinbase, Stand With Crypto, s’est associé à une multitude d’entreprises cryptos pour exhorter les législateurs américains à adopter rapidement le CLARITY Act, un projet de loi crucial pour la régulation du secteur de Bitcoin (BTC) et des actifs numériques. Dans une lettre adressée aux membres de la Chambre des représentants, ces groupes soulignent l’urgence de clarifier le cadre réglementaire pour éviter que les États-Unis ne perdent leur leadership dans le secteur.

Les points clés de cet article :
Via une initiative menée par Stand With Crypto, Coinbase invite les législateurs à adopter rapidement le CLARITY Act pour réguler le secteur des cryptomonnaies aux États-Unis. La lettre de Stand With Crypto, signée par de grandes entreprises cryptos, alerte sur le risque de perte de leadership américain dans la cryptosphère mondiale.

Une coalition crypto autour de Coinbase appelle à l’adoption du CLARITY Act

Le CLARITY Act vise à définir les rôles respectifs de la Commodity Futures Trading Commission (CFTC) et de la Securities and Exchange Commission (SEC) dans la supervision des cryptomonnaies. Ce projet de loi donnerait à la CFTC la majeure partie de la juridiction sur les cryptos, tandis que la SEC se concentrerait sur les produits financiers liés aux actifs numériques numériques.

La lettre ouverte de Stand With Crypto de Coinbase, signée par des poids lourds du secteur US des cryptos comme OpenSea (la place de marché NFT), a été adressée ce 7 juillet 2025 aux membres de la Chambre des représentants des États-Unis.

Elle met en garde contre les signes déjà visibles d’un déclin du leadership américain au sein de la cryptosphère. La lettre souligne que « l’absence actuelle de règles standardisées entrave l’innovation et l’adoption institutionnelle, ce qui pousse les talents et les entreprises [cryptos] vers des juridictions étrangères plus favorables aux cryptomonnaies ».

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Le Congrès face à des décisions cruciales pour l’avenir de Bitcoin et des cryptos aux USA

La lettre de Stand With Crypto et de ses partenaires arrive à un moment critique, alors que les membres Républicains de la Chambre ont annoncé une « crypto week » pour examiner 3 projets de loi relatifs aux cryptomonnaies, donc le CLARITY Act.

Le président de la House of representatives, Mike Johnson, a déclaré que la chambre basse du Congrès US examinerait également l’Anti-CBDC Surveillance State Act, qui interdit les monnaies numériques de banque centrale (MNBC), et le GENIUS Act, qui régule les stablecoins avec clarté, justement. Ce dernier projet de loi a déjà été validé au Sénat, et n’attend plus que l’approbation de la Chambre avant d’être signé par le président Donald Trump.

Le CLARITY Act devra lui encore passer par le Sénat s’il passe bien sa validation par la Chambre des représentants. Alors que le Congrès se prépare à débattre de tous ces projets de loi, le secteur crypto étasunien retient son souffle. Car s’il est loin d’être parfait (à cause de sa complexité), le règlement MiCA en Union européenne est lui déjà en place. Ainsi, même si ce dernier est très contraignant, les acteurs cryptos souhaitant offrir leurs services en Europe savent à quoi s’attendre.

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OpenSea Acquires Rally as It Continues to Pivot to Token Trading

Non-fungible token (NFT) trading platform OpenSea has acquired Rally, the company behind Rally wallet, as it continues its pivot into token trading.

Terms of the acquisition remain undisclosed.

According to a press release shared with CoinDesk, OpenSea’s chief technology officer Nadav Hollander will be handing over the role to Chris Maddern, Rally’s CEO. Rally co-founder Christine Hall will also join OpenSea as the company’s chief of staff.

OpenSea will use the acquisition to strengthen its trading platform, which has been operating across 17 blockchains since it went live to the public in May.

“The Rally team shares our vision of a more accessible and delightful onchain trading experience for everyone,” said Devin Finzer, co-founder and CEO of OpenSea. “We’re excited to bring their passion and expertise to OpenSea as we build the best place to discover, trade, and create onchain, with mobile at the forefront.”

Rally operates primarily as a crypto wallet, recently foraying into a mobile app that combines self custody with social features and multiple currencies.

OpenSea plans to integrate Rally’s wallet technology and mobile-first design into the platform as it moves towards becoming a fully-fledged trading platform.

“Joining OpenSea is a natural next step for Rally’s mission,” said Chris Maddern, incoming CTO of OpenSea. “Together, we’ll accelerate the adoption of web3 by making it easier, safer, and more social to engage with digital assets, no matter where you are in your journey.”.

No further details were revealed about OpenSea’s native OS token, which was announced in February.

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BONK Reclaims Momentum with 11% Rally as Community and Volume Fuel Breakout

BONK continued its explosive run, climbing 11% over the 24 hours ending July 8 with trading volume surpassing $1 billion.

After plunging to $0.000021124, BONK staged a dramatic recovery and closed at $0.000022868. As of the latest reading, the token trades at $0.0000228, slightly off highs but firmly within bullish territory.

A consolidation zone formed between $0.000022848 and $0.000023033, with a breakout attempt at 10:25 GMT accompanied by a volume spike, underscoring building bullish pressure.

Momentum is also soaring on the social front. Posts on X (formerly Twitter) highlight BONK’s milestone flip of TRUMP, making it the fourth largest memecoin by market cap.

The community-powered bonk.fun platform, now commanding 54.7% market share, is credited for driving both user activity and on-chain buybacks.

Users have also pointed to BONK’s vibrant meme ecosystem, anticipating that upcoming art-based campaigns and NFT-style projects could become new growth engines.

Institutional and macro narratives are also aligned. Tuttle Capital’s rumored 2x leveraged BONK ETF has stirred speculation, while dovish Fed signals and global tariff extensions have broadened crypto risk appetite.

With breakout volume, confirmed support, and a hyper-engaged community driving attention across meme culture and DeFi, BONK looks well-positioned for continued upside in the near term.

Technical Analysis Highlights

BONK traded in an 11.49% range, from $0.000021124 to $0.000023862, during the July 8 session.$0.000021124 was confirmed as key support with 2.60 trillion volume during the reversal.Final-hour price held between $0.000022848–$0.000023033, forming a bullish consolidation band.A 41.5 billion unit spike at 10:25 GMT signaled renewed buying pressure and potential breakout.Volume averaged 11.2 billion units per minute in the final hour, indicating sustained demand.BONK flipped TRUMP to become the fourth largest memecoin by market cap, backed by social momentum.Bonk.fun platform dominance and anticipated meme-art initiatives support long-term growth narrative.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Lamborghini to Debut Temerario Sports Car in the Metaverse

Luxury car manufacturer Automobili Lamborghini said it will debut its latest sports car in the metaverse.

The Temerario and its GT3 counterpart will be available as limited edition digital collectibles in open-world metaverse Wilder World, according to an emailed announcement shared with CoinDesk on Monday.

The metaverse is a virtual reality world allowing humans to interact with each other, play games and transact, often involving digital version of real-life items.

There was a lot of hype around the metaverse during the digital asset bull market of 2021, with Mark Zuckerberg renaming Facebook « Meta » to reflect its focus in this area.

However, much of this interest faded over the subsequent two years, as user engagement stagnated and many companies shifting their attention to artificial intelligence (AI).

Lamborghini however is seemingly undeterred, teaming up with Web3 investment and development heavyweights Animoca Brands last year to create digital experiences for fans and customers.

The Italian car company is offering 590 Temerario streetcars and 10 of the GT3 counterparts for $300 apiece from July 11. The digital sportscars will be mintable on Wilder World, non-fungible token (NFT) marketplace OpenSea and Lamborghini’s own Web3 platform Fast ForWorld.

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Perspectives d’IO, d’IMX et d’Aptos avant le déblocage d’importants tokens cette semaine

Aptos, Immutable et io.net font partie des tokens qui devraient connaître des déblocages notables de tokens insider totalisant plus de 219 millions de dollars cette semaine.
Que signifient les déblocages de grande falaise pour les prix APT, IMX et IO ?
Plus de 219 millions de dollars de jetons seront débloqués au cours de la semaine prochaine, y compris des sorties clés pour Solana et Worldcoin, entre autres.

Aptos, Immutable et io.net font partie des principaux altcoins prêts pour des déblocages majeurs de jetons la semaine prochaine, avec plus de 219 millions de dollars de ces jetons et d’autres jetons qui devraient entrer en circulation entre le 7 et le 13 juillet 2025.

Alors qu’un sentiment haussier général entoure le marché des crypto-monnaies alors que le bitcoin oscille autour de 109 000 $, les déblocages à venir pourraient-ils introduire une pression de vente sur APT, IO et IMX ?

Principaux déblocages de tokens cette semaine : Aptos, IMX, IO

Aptos (APT) est une blockchain de couche 1 conçue pour l’évolutivité et le haut débit.

Immutable (IMX), une solution de couche 2 sur Ethereum, se concentre sur l’infrastructure NFT sans frais de gaz, améliorant ainsi l’accessibilité des utilisateurs.

De son côté, io.net (IO) est un réseau informatique d’IA décentralisé qui permet aux ingénieurs en apprentissage automatique d’accéder à des clusters évolutifs à des coûts réduits, ce qui le positionne comme un leader de l’innovation DePIN.

Selon les données de Tokenomist, anciennement Token Unlocks, la semaine du 7 au 13 juillet 2025 verra des déblocages d’initiés totalisant plus de 219 millions de dollars.

Parmi les sorties notables de jetons d’une valeur supérieure à 5 millions de dollars, citons Aptos avec 50,78 millions de dollars, soit 1,75 % de l’offre en circulation, et io.net avec 9,28 millions de dollars, soit 7,64 % de l’offre en circulation.

Ailleurs, Immutable devrait également voir un important déblocage de falaise, avec 10,43 millions de dollars d’IMX, soit 1,31 % de l’offre en circulation.

Wu Blockchain a partagé les détails ci-dessous.

According to Tokenomist, over the next 7 days, major one-time token unlocks (worth over $5M) will occur for APT, IMX, IO, MOVE, and AGI. Additionally, significant linear daily unlocks (over $1M per day) are expected for SOL, WLD, TIA, DOGE, TAO, AVAX, SUI, DOT, IP, MORPHO, SEI,… pic.twitter.com/34uRa8SBMV

— Wu Blockchain (@WuBlockchain) July 7, 2025

Les déblocages de tokens de grande falaise font référence à la libération simultanée d’une partie importante des tokens après une période d’acquisition, souvent allouée aux fondateurs, aux équipes ou aux premiers investisseurs.

Cet événement peut augmenter la pression de vente, ce qui peut faire baisser les prix si les détenteurs liquident leurs positions.

Cependant, cela pourrait également signaler la confiance si les initiés se maintiennent, ce qui pourrait stabiliser ou stimuler les prix, en fonction du sentiment du marché et des fondamentaux du projet.

Prévisions de prix APT, IMX, IO

Les jetons Aptos (APT), io.net (IO) et Immutable (IMX) pourraient subir une pression à court terme compte tenu de la nouvelle offre au milieu des sorties de jetons.

Le sentiment général du marché et les tendances plus larges des crypto-monnaies fourniront également probablement des vents contraires ou des vents arrière à court terme.

D’un point de vue technique, le prix d’Aptos pourrait faire face à un support clé à 3,7 $, avec une résistance à 4,9 $ et 5,2 $.

Une cassure au-dessus de 5 $ pourrait viser des niveaux plus élevés avec 8 $ et 10 $ ensuite.

D’autre part, IMX a une zone de recharge de la demande clé près de 0,32 $ en dessous de laquelle la vente s’intensifiera.

Cependant, si les haussiers prennent le contrôle, un objectif clé pourrait être la zone psychologique de 1 $.

io.net (IO) a un support majeur autour de 0,5 $, avec une résistance à 0,75 $ puis 1,43 $.

The post Perspectives d’IO, d’IMX et d’Aptos avant le déblocage d’importants tokens cette semaine appeared first on CoinJournal.

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Bitcoin Cash Rally Accelerates on Whale Activity and Bullish Technical Signals

Bitcoin Cash (BCH) traded at $482.54 on July 5, down 0.23% over the past 24 hours, following a broader retreat from its recent multi-month high, according to CoinDesk Research’s technical analysis model. As for the broader crypto sector as gauged by the CoinDesk20 Index (CD20), it is up 0.27% during the same period.

On July 1, BCH reached $526.5 — its highest price in eight months — as market enthusiasm, whale accumulation, and speculative inflows helped propel the token more than 75% higher over the past three months.

The surge, briefly taking BCH above $528, coincided with a substantial increase in daily trading volume, which tripled to over 120,000 tokens exchanged within a 24-hour span. Much of the buying interest was attributed to capital rotation into mid-cap cryptocurrencies, as investors sought gains beyond the majors during a period of broader crypto market strength.

On-chain fundamentals, however, remain lackluster. Daily active BCH addresses have dropped to a six-year low, suggesting that the rally is being driven more by speculation than by increased network utility. Despite this disconnect, technical indicators point to further upside potential. In late June, a golden cross formation appeared on BCH’s hourly chart—where the 50-day moving average crossed above the 200-day MA—a historically bullish signal.

Adding to the speculative momentum, open interest in BCH derivatives rose 27.4% this past week to $578 million. Analysts are watching the $478 to $508 range closely, viewing it as a key support zone that could stabilize the current pullback.

On July 4, analytics firm IntoTheBlock reported a 122.45% increase in large whale transactions involving over $100,000 in BCH, totaling 957,440 tokens worth approximately $482 million. This sharp rise in high-value transfers echoed earlier activity spikes seen in February, May, and late June—all of which preceded major price movements.

A separate development on July 5 raised further intrigue, when a 10,000-BCH transaction worth roughly $5 million was flagged just prior to the historic movement of 80,000 dormant BTC — valued at over $8.5 billion. Experts suggest the BCH transfer may have served as a key test of wallet access before executing the massive Bitcoin transaction, which was the largest of its kind in over a decade.

Meanwhile, the Bitcoin Cash Foundation published its July 1 update highlighting the release of Knuth v0.68.0, which unifies the node’s codebase and lays the groundwork for future UTXO efficiency upgrades. While no major adoption headlines emerged this week, smaller community projects continue to explore BCH-based micropayments and NFTs. Roger Ver, a longtime proponent of Bitcoin Cash, remains publicly active in promoting BCH as a scalable alternative to bitcoin, though his recent advocacy has not been accompanied by any new institutional product launches.

Technical Analysis Highlights

BCH traded within a $7.52 (1.57%) range between $481.83 and $489.35 from July 4 15:00 to July 5 14:00.Strong support was observed at $481.83 with elevated volume during the 04:00 hour on July 5.Resistance formed at $489.43, where repeated selling pressure capped gains.From 13:06 to 14:05 UTC on July 5, BCH gained $1.20 (0.25%), briefly breaking above $483.25 on rising volume.Support in the final minutes of the session formed between $483.35 and $483.45, with price peaking at $483.81 during the 14:03 candle.

isclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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FLOKI Advances Blockchain Gaming Ambitions With Valhalla Mainnet Launch and Esports Partnership

FLOKI FLOKI traded near $0.00007417 on July 5, up 1.32% over the past 24 hours, according to CoinDesk Research’s technical analysis model. As for the broader memecoin sector as gauged by the CoinDesk Memecoin Index(CDMEME), it is up 1.79% during the same period.

Although FLOKI is often categorized as a meme coin, its ecosystem has long featured gaming-related functionality, including NFT-based characters, play-to-earn mechanics, and token integration for in-game rewards. But the launch of the Valhalla mainnet marks its most ambitious gaming milestone to date.

On June 30, 2025, FLOKI officially launched Valhalla, a blockchain-based game inspired by Norse mythology. The game runs on opBNB, a Layer-2 network designed to enable fast and inexpensive transactions. Players take control of Veras — customizable NFT characters — in a browser-based, turn-based tactical MMORPG that blends combat, exploration, and questing with blockchain-backed rewards. The play-to-earn economy is built around FLOKI tokens, which players earn by completing in-game tasks and winning battles.

To support the game’s rollout, the FLOKI team has committed millions of dollars from its treasury to fund development, marketing campaigns, and in-game incentives. That long-term investment signals the project’s intention to build a sustainable blockchain gaming ecosystem rather than a short-term promotional play.

FLOKI has also partnered with Method, a well-known esports organization recognized for its World of Warcraft dominance. Method will serve as a strategic content partner, producing onboarding materials, game guides, and live coverage to help Valhalla appeal to both traditional gamers and crypto-native audiences. The partnership will include branded jerseys and appearances in gaming tournaments throughout 2025 and 2026, designed to grow Valhalla’s player base and community awareness.

These developments represent a pivotal moment in FLOKI’s evolution, as the project attempts to move beyond its meme origins and establish itself at the intersection of Web3 technology, entertainment, and digital asset ownership.

Technical Analysis Highlights

FLOKI rose 4.7% from $0.0000749 to $0.0000741 during the 24-hour window from July 4 15:00 to July 5 14:00.Peak price of $0.0000762 was recorded at 06:00 on July 5.A breakout at 06:00 was accompanied by the session’s highest volume spike of 44.98 billion tokens.Support formed near $0.0000737; resistance was established around $0.0000762.Last-hour trading (13:06 to 14:05) saw a V-shaped recovery from $0.0000740 to $0.0000741.A 3.08 billion token volume spike at 13:41 confirmed support around $0.0000742.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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