crtypto & forex news

Users who fail to migrate their accounts before quantum computers become a practical threat would not automatically lose their assets under Circle’s new plan — the company is proposing recovery frameworks tied to cryptographic proofs, seed phrase verification, exchange records, and even court orders if necessary. A Long Road, Not A Quick Fix Circle, which issues the USDC stablecoin across more than 30 blockchain networks, published a post-quantum security whitepaper on Friday outlining how it intends to prepare USDC and its upcoming Arc blockchain for an era when today’s cryptographic standards may no longer hold. The plan runs in three phases: a readiness stage to identify vulnerable systems, a transition period where old and new cryptography operate side by side, and a final migration that could see classical signature schemes retired entirely. The underlying risk is technical but significant. Most blockchains rely on elliptic curve cryptography, and a powerful enough...

The price performance of Ethereum was disappointing for most of May , as the bears seemed to be in full control. It doesn’t seem like much will change for the “King of Altcoins” in the new month, which appears to be a mere continuation of the established downward trend. According to a popular analyst on the social media platform X, the Ethereum price could be on its way down to around $1,850. Is ETH Price Stuck In A Descending Channel? Crypto analyst Burak Kesmeci took to the X platform to share his projection for the Ethereum price over the coming days. The market pundit posited that the second-largest cryptocurrency could decline toward the $1,822-$1,850 range if it fails to break the $2,033 resistance in the next few days. This bearish outlook is premised on the fact that sellers have been in a dominant position in the short term and for much of the past month. This dominance is evident in the formation of a descending channel on the four-hour timeframe of the E...

US Bitcoin Spot ETFs reported net outflows of $1.42 billion in the final week of May, extending the persistent negative trend observed throughout most of the month. The bearish performance by these investment funds aligns with Bitcoin’s price struggles, when the premier cryptocurrency failed to breach the key resistance of $82,000 around May before slipping into another correction. Bitcoin ETFs See Persistent Red Across Second Half Of May In analyzing the individual fund performances over the week, it is observed, in typical fashion, that selling pressure was concentrated among the largest issuers. According to data from SoSoValue , BlackRock’s IBIT led the outflows by a wide margin, with withdrawals exceeding deposits by $966.42 million. Behind the market leader, Fidelity’s FBTC and Grayscale’s GBTC also registered significant capital flight, posting net outflows of $169.15 million and $175.09 million, respectively. Bitwise’s BITB also recorded moderate net outfl...

Four working weeks. That’s all the time left in June for the US Senate to move on the CLARITY Act before lawmakers head into recess — and the crypto industry is watching the clock. A Crowded Legislative Calendar Senate Majority Leader John Thune confirmed that the chamber’s reconciliation package would not be completed this month, forcing senators to return in June with a packed agenda. The CLARITY Act, a market structure bill that cleared the Senate Banking Committee with a 15-9 bipartisan vote, now has to compete for floor time against reconciliation talks, FISA matters, and a housing package already passed by the House. Galaxy Digital CEO Mike Novogratz put the situation plainly. “June is ‘Clarity’ month,” he wrote on X. “It’s literally now or never.” Treasury Secretary Scott Bessent has also pushed both the Senate and House to move on the bill. His call to action was followed by a jump in approval odds on prediction marke...

Leveraged traders betting on a price recovery got hit hardest when the Sui blockchain went down for the third time in under 48 hours. Data from CoinGlass shows that long positions accounted for $1.72 million of the $1.88 million in SUI liquidations recorded during the latest disruption. The Ripple Effect On Price SUI fell to $0.9035 on Binance following the third stall, extending a slide that has now reached roughly 8% since the trouble began on May 28. The $1.00 support level — one that held for much of 2024 — was broken during the selloff, with the token down around 16% over the past week. The third outage hit during an epoch transition on May 29 at approximately 4:30 PM EDT. Validators were up and generating system transactions, but user transactions stopped flowing entirely. Sui mainnet stopped accepting user transactions due to an issue during the epoch change beginning at ~1:30PT. Validators are up and creating system transactions, but user transactions are not currentl...

After beginning the week with a steep drop from around $78,000, the Bitcoin price appears to have found stability near $73,500 . However, a recent on-chain evaluation suggests that if a condition is not met, this newfound stability might just be the typical calm that precedes a storm. Bitcoin’s Key Support Sits Around $72,400 Crypto analyst Darkfost recently took to the social media platform X in a May 29 post to highlight a critical development in Bitcoin’s on-chain dynamics and its impact on the underlying. The relevant indicator here is the “Realized Price excluding >7Y Supply” metric. For context, the metric tracks the average acquisition cost of all Bitcoin that has moved in the last seven years, excluding long-term dormant coins, to reflect the cost basis of only active market participants. When Bitcoin trades above this level, it often means that Bitcoin’s most active holders are doing so while enjoying profits. In this case, there is a reduced probabil...

Prediction markets put the odds of the Digital Asset Market Clarity Act becoming law this year at 59%, down from a high of 68% following a Senate committee vote earlier this month. That slide reflects growing uncertainty around a bill the crypto industry had hoped would clear Congress before year’s end. A Slim Margin In The Senate The Senate Banking Committee advanced the CLARITY Act in May, but the vote was far from a show of broad support. Only two Democratic lawmakers joined Republicans in backing the bill, raising questions about whether it can clear the full Senate floor without changes. Committee Chairman Tim Scott called the vote bipartisan. Critics say two votes barely qualifies. The bill still needs to pass both chambers of Congress and be signed by US President Donald Trump before it takes effect. That path is now looking longer than the crypto industry had anticipated. JPMorgan CEO Jamie Dimon appeared on Fox Business this week and made clear that the banking ...