The commission evaluated more than 10 blockchains, including Ethereum, Avalanche, Sui, Stellar and Polygon. The Wyoming Stable Token Commission has shortlisted Aptos and Sei for its stablecoin pilot program, giving Aptos the highest score among the more than 10 blockchains considered for its forthcoming WYST project. Aptos disclosed Friday that it received the highest marks based on the commission’s network testing, scoring 32 points. Solana received an identical score of 32 points, though it was not selected for the pilot phase. Sei, meanwhile, scored 30 points, ahead of Avalanche (27), Ethereum (26), Base (25) and Algorand (21), among others. Read more
Bitcoin’s sell-off is accelerating, and most altcoins are following BTC’s path. Will traders buy the dips? Key points: Bitcoin remains stuck in a range, with traders’ expectations divided about the direction of the next significant move. Several major altcoins are showing weakness, suggesting that a wider trend reversal could be at play. Read more
Coinbase joins other exchanges such as OKX and Bybit that have secured MiCA licenses in a bid to take advantage of regulatory clarity in Europe. Coinbase has secured a Markets in Crypto-Assets (MiCA) license from the Luxembourg Commission de Surveillance du Secteur Financier, which enables the exchange to offer crypto products across European Union countries. The move signals mounting competition in the European crypto market, where other exchanges have also been pursuing registrations. OKX and Crypto.com secured MiCA licenses in January, followed by Bybit in May. Gemini is also on track to obtain a license in the region, according to a Reuters report. Coinbase has named Luxembourg as its new European headquarters, citing the country’s reputation as a progressive financial center in Western Europe. Bordered by Belgium, France and Germany, the country has been gradually advancing crypto regulations since 2019. Read more
Over 28% of Ether’s supply is now locked, signaling tightening liquidity conditions, as more Nasdaq-listed companies establish corporate crypto reserves. Despite another week of downside for the cryptocurrency market, the staked Ether supply reached a new all-time high, meaning over 28% of the token’s supply is now locked in exchange for passive income. A growing staked Ether (ETH) supply indicates that more investors are preparing to hold their tokens, instead of selling at current prices. Meanwhile, publicly-traded companies continue establishing corporate cryptocurrency reserves, signaling increased institutional adoption of digital assets beyond Bitcoin (BTC). Read more
Bitcoin may hold above $100,000 throughout summer, but seasonal trading data suggests minimal upside in Q3. Key takeaways: Analysts say Bitcoin is trading more like a risk asset than a safe haven like gold, undermining its “digital gold” narrative. A potential Fed rate cut in July may boost Bitcoin, but historical data shows Q3 tends to be flat, with only a 1% median return from June to September. Read more