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XRP open interest sheds $2.4B: Is a price crash next?

Key takeaways:
XRP open interest remains elevated despite the recent drop, suggesting traders are still holding leveraged positions.
Low onchain activity on the XRP Ledger raises doubts about sustainable price gains above the $3 resistance level.
XRP (XRP) has fallen 15% since reaching $3.66 on
XRP-0.32%
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‘A joke in poor taste’: Tornado Cash T-shirt stirs controversy in court

Before Roman Storm’s defense attorneys rested their case on Tuesday, one matter that seemed to provoke some controversy in the courtroom was a T-shirt the Tornado Cash co-founder and developer wore at a crypto event in 2019.
During opening statements in the US
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Bitcoin price gained 50% the last time its volatility fell this low

Key takeaways:
The Bitcoin Implied Volatility Index has fallen to its lowest level since September 2023, hinting at a potential breakout.
The short-term holder realized cap drawdown is at -8%, which is historically a bullish accumulation zone.
Bitcoin’s (BTC) recent price action points to a
BTC-0.3%
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Down 99%, biotech firm 180 Life Sciences pivots to crypto with ETH bet

Nasdaq-listed 180 Life Sciences Corp plans to invest heavily in Ether and rebrand as ETHZilla Corporation, a strategic pivot away from its biotechnology origins amid mounting losses.
On Tuesday, the company announced a $425 million private placement aimed at building an Ether (ETH) treasury
ETH-0.77%
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Pyth Network brings Hong Kong stock prices onchain for global access

Decentralized oracle network Pyth Network has begun publishing real-time, onchain prices for 85 of the most valuable stocks listed in Hong Kong, giving builders and traders worldwide direct access to one of Asia’s most important equity markets.
The price feeds are sourced directly from
PYTH-1.42%
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The GENIUS Act passed and DePIN should be next

Opinion by: Aaron Basi, head of product at IoTeX
With the recent passage of the GENIUS Act, the United States has taken its first real step toward regulating crypto nationally. The bill focuses on stablecoins, establishing reserve rules, audits and authorized issuers. This is a milestone for the in
ACT-3.93%
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Bitcoin analysts say this must happen for BTC price to hit new highs

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SAY4.93%
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Corporations have acquired 1% of Ether supply: Standard Chartered

Corporations are buying Ether at a faster pace than Bitcoin, signaling a shift in institutional interest toward the world’s second-largest cryptocurrency as it prepared to celebrate its 10th anniversary, according to a new report from Standard Chartered shared with Cointelegraph.
Corporate cryptoc
ETH-0.77%
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Hong Kong finalizes stablecoin rules, launches public registry

The Hong Kong Monetary Authority (HKMA), the special administrative region’s central banking authority, has finalized its regulatory framework for stablecoin issuers, releasing two sets of guidelines that will take effect on Aug. 1
On Tuesday, the HKMA released finalized guidelines and
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Linea airdrop: 85% to users, builders as L2 seeks Ethereum alignment

The Consensys-developed Linea network says it will become one of the first Ethereum layer-2 networks to commit to burning Ether as part of its network design, as it shared new details of its upcoming token generation event and airdrop.
Linea announced new staking and burning mechanisms for its upc
AIRDROP-9.75%
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