XRP price could drop by over 20% in the coming weeks due to multiple onchain indicators hinting at a local top formation. Key takeaways: XRP’s rally to $3 has pushed 94% of supply into profit, a level that historically marked macro tops. XRP is in the “belief–denial” zone, onchain metrics show, echoing peaks in 2017 and 2021. Read more
Japan’s FSA is set to approve JPYC as the country’s first yen-pegged stablecoin, a move that could reshape demand for Japanese government bonds. Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of yen-denominated stablecoins as early as this fall, marking the first time the country will allow a domestic fiat-pegged digital currency. Tokyo-based fintech firm JPYC will register as a money transfer business within the month and will lead the rollout, Japanese news outlet The Nihon Keizai Shimbun reported on Sunday. JPYC is designed to maintain a fixed value of 1 JPY = 1 yen, backed by highly liquid assets such as bank deposits and Japanese government bonds. After purchase applications from individuals or corporations, the tokens are issued via bank transfer to digital wallets. Read more
While crypto chases AI token hype, smart money invests in compute infrastructure. Like the gold rush, those who own the rails — not the miners — get rich. Opinion by: Kony, co-founder and CEO of GAIB During the gold rush, it wasn’t the fortune-seekers getting rich. While it was assumed that you could take your picks and shovels and become wealthy overnight, it was grueling work with no guaranteed returns. Those who benefited were the infrastructure providers. The landowners, the pick and shovel sellers and the transportation suppliers saw a real return on investment, while the rest searched day and night for gold they never found. This still rings true today. Those who invest in “boom” infrastructure gain more than those chasing the hype. In Q1 of this year, AI tokens dominated crypto narratives, holding 37.5% of global investor interest in Q1. Degens started jumping in, hoping that the next one would 10x and launch them into early retirement. Read more
Centrifuge joins BlackRock’s BUIDL and Ondo Finance in the $1 billion RWA club as demand grows for tokenized products. Blockchain infrastructure platform Centrifuge has crossed $1 billion in total value locked (TVL), joining the ranks of BlackRock’s BUIDL fund and Ondo Finance as the only real-world asset (RWA) platforms to surpass the milestone. Centrifuge CEO Bhaji Illuminati attributed the milestone to institutions moving from pilots to “real deployments,” alongside strong onchain allocator demand. “Markets need more than T-bills,” Illuminati told Cointelegraph, pointing to JAAA, an onchain version of Janus Henderson’s AAA-rated collateralized loan obligation (CLO) investment fund, as a natural next step for institutions seeking higher yields than risk-free rates. Read more