Kategorie: Altcoin News

• The $54 support level is critical for the Hyperliquid price.
• HYPE futures open interest has fallen to $5.86B, triggering a leveraged unwind.
• Crypto Fear and Greed Index hit 15 as Bitcoin ETF outflows drove risk-off selling.

The Hyperliquid price has dropped 11% in 24 hours to $55.35, making it one of the hardest-hit assets in an already rough day for crypto.

While the broader crypto market is down, with Bitcoin falling 3.1% toward the $62,000 zone, HYPE’s losses were nearly four times larger; a pattern that tends to show up when a high-beta asset catches a deleveraging wave at the worst possible time.

The 7-day picture is even sharper. HYPE is down 23.7% over the past week and has now given back more than a quarter of its value from its all-time high of $75.48, set just eight days ago on June 2.

Why is the Hyperliquid price declining?

The clearest explanation for the size of the drop lies in the derivatives market.

Hyperliquid futures open interest has dropped to $5.86 billion, a signal that leveraged long positions were being closed rather than new short bets being placed.

At the same time, spot volume climbed 12.5%, meaning actual selling and not just funding rate shifts were hitting the market.

Traders who had built up leveraged positions during HYPE’s run to its all-time high were exiting, and the exits compounded each other.

Interestingly, the price drop was not driven by any negative news specific to the Hyperliquid protocol itself.

Daily buybacks continued as normal, and there were no reports of exploits or technical failures.

It was a speculative unwind, not a fundamental breakdown.

But that unwind happened against a difficult macro backdrop.

The broader market continues to struggle

The Crypto Fear and Greed Index fell to 15, deep in extreme fear territory, down from 47 just a month ago, and total crypto market capitalisation dropped 2.24% in 24 hours to approximately $2.13 trillion.

Traders were pulling back ahead of the Federal Reserve’s June 16–17 meeting, with CME FedWatch data showing a 98.2% probability that rates would stay unchanged.

Geopolitical tension added to the pressure after President Donald Trump indicated the US would respond to Iran allegedly shooting down an American Apache helicopter near the Strait of Hormuz.

Adding to the backdrop, the Hyperliquid Policy Centre (HPC) filed a joint comment letter with venture firm Paradigm on June 9, pushing back on a proposed rule from FinCEN and the Office of Foreign Assets Control that would implement anti-money laundering and sanctions requirements for stablecoin issuers under the GENIUS Act.

The GENIUS Act was signed into law in July 2025, establishing a federal framework for payment stablecoins, with implementation expected by January 2027.

The April-proposed rule would require stablecoin issuers to maintain AML programs, file Suspicious Activity Reports, and have the technical capability to block, freeze, or reject transactions violating US law, across both primary and secondary markets.

HPC and Paradigm’s objection centres on the secondary market scope.

In permissionless blockchain environments, issuers can see wallet addresses and transaction amounts, but they cannot identify who is actually transacting.

As the filing put it: “Issuers are subject to strict liability for transactions they cannot meaningfully police.”

The groups propose keeping heavier compliance obligations on the primary market, where issuers have direct customer relationships, and want a narrower approach in secondary markets, with the Travel Rule applying to pseudonymous wallet transfers only when operators have a direct relationship with the parties involved.

They also suggested that smart contract-level compliance measures, including address blocklists and transfer restrictions, should be recognized as sufficient, and that money laundering provisions should not extend to protocol developers and on-chain infrastructure participants.

HPC and Paradigm warned that if issuers are held responsible for every secondary-market interaction on permissionless networks, the likely outcome is that regulated stablecoins retreat from DeFi entirely, leaving a gap that unregulated offshore alternatives would fill.

What to watch next for HYPE

The immediate technical focus is the $54 level.

AltcoinSherpa notes that a break below the $54 support level would remove a key area that has been holding HYPE’s price action in place.

If HYPE holds above $54, the token could settle into a consolidation range between $54 and $65.

According to AltcoinSherpa, a break below $54 opens the door to the $44–$54 gap, which would represent a significant further drawdown from current levels.

On the derivatives side, a stabilization or recovery in open interest, currently at $2.48 billion, would be a sign that the selling pressure is exhausting itself.

Notably, if open interest keeps falling while price drops, it suggests more unwinding is still ahead.

One potential volatility catalyst worth monitoring is the SpaceX IPO listing, which could draw trading activity to Hyperliquid’s markets and introduce a new source of volume.

But whether that translates into price support for HYPE specifically is less certain, but it could shift the attention and activity on the platform.

Bitcoin reclaiming $63,000 would also improve the broader altcoin environment.

However, until that happens, altcoins like Hyperliquid (HYPE) remain exposed to further downside if macro sentiment stays cautious heading into the Fed meeting next week.

The post Hyperliquid price slides 11%: What’s behind the sell-off and what comes next appeared first on CoinJournal.

• Zcash’s Orchard pool bug, undetected since 2022, sent ZEC crashing 52% to $303.
• The proposed Ironwood upgrade lets anyone verify ZEC’s 21 million coin supply cap.
• Analyst Yashu Gola warns of a rising wedge pattern, with $314 as the key support.

Zcash (ZEC) suffered one of its worst weeks in recent memory last week.

The privacy-focused cryptocurrency plunged from around $635 to a low of roughly $303 in a matter of days after Shielded Labs, a nonprofit developer on the Zcash network, disclosed a critical bug in its Orchard shielded pool, the part of the system responsible for hiding transaction details.

The bug, which had gone undetected since 2022, could have allowed an attacker to mint an unlimited amount of fake ZEC without detection.

However, by Monday, June 8, ZEC had clawed back a significant portion of those losses, trading around $442 at press time, a roughly 45% rebound from the June 5 low.

The rebound followed two key developments: an emergency patch to address the vulnerability and the introduction of a new upgrade proposal called Ironwood.

Nevertheless, the token is still down approximately 19.7% over seven days and 26.2% over the past 30 days, leaving plenty of ground to recover.

What the Ironwood upgrade actually does

The emergency patch was a coordinated effort.

Shielded Labs, the Zcash Foundation, and the Zcash Open Development Lab pushed through network upgrades within days of the disclosure, working alongside mining pools ViaBTC and Foundry to get it done quickly.

But fixing the bug was only step one.

On June 6, those same groups formally proposed the Ironwood upgrade as a longer-term solution to restore confidence in Zcash’s coin supply.

Ironwood would create a brand-new privacy pool built on the repaired code and effectively shut down the old Orchard pool, blocking any new coins from being created there.

Once active, anyone running Zcash software would be able to aggregate balances across the old and new pools and independently verify that no more than the maximum supply of 21 million ZEC is in circulation.

The upgrade could also serve as a forensic tool of sorts.

As users migrate their coins out of the old pool, any counterfeit ZEC that might have been minted would either show up when it tries to move or get stranded and effectively destroyed.

Shielded Labs has said it believes the vulnerability was never exploited, though that has not been confirmed definitively.

Developers have not committed to a timeline yet, noting that building, testing, and coordinating the upgrade across the network will take time.

Here’s why the rebound may not hold

While the price recovery looks sharp on paper, technical analysis shows a warning sign.

ZEC appears to be forming a rising wedge pattern on the four-hour chart. The pattern is characterized by higher highs and higher lows within a narrowing range and often signals that buying momentum is fading rather than strengthening.

Notably, after rebounding, ZEC has struggled to establish sustained momentum above the $420-$430 area, suggesting buyers are finding it difficult to push decisively higher.

If the price breaks below the wedge’s lower trendline, the measured downside target lands near $314.

That $314 level is not arbitrary. On the weekly chart, it aligns with the lower trendline of a broader ascending triangle and sits near the 0.236 Fibonacci retracement drawn from the approximately $700 swing high to the $200 swing low.

If ZEC holds above $314 during a pullback, bulls can argue that the broader structure remains intact.

But a decisive break below that level opens the door to a deeper slide toward the $250–$200 support zone.

For bulls to keep the recovery on track, ZEC needs to defend wedge support and clear $450 convincingly.

The 7-day range tells the full story of just how volatile this period has been: $303.80 on the low end and $635.49 on the high end, a spread of more than $330 within a single week.

The fundamental damage from the bug disclosure should not be underestimated either.

Zcash’s core value proposition rests on privacy, cryptographic integrity, and a fixed, trustworthy supply of 21 million coins.

A vulnerability that could have silently inflated that supply struck at the heart of what makes the asset appealing to its investor base.

Even with the patch in place and Ironwood on the table, rebuilding that confidence will take more than a 45% price bounce.

The coming weeks will likely depend on two factors: whether Ironwood progresses from proposal to implementation, and whether ZEC can maintain its key technical support levels during that process.

The post Zcash developers propose ‘Ironwood’ upgrade, ZEC price rebounds, but there is a risk appeared first on CoinJournal.

• Avalanche’s network has reached a new record high in distributed RWA value.
• Data shows over $1.16 billion on-chain, boosted by BlackRock.
• AVAX price looks to hold $9.00 support amid this ecosystem growth.

Avalanche price hovered $9.25 on Wednesday as bulls attempted to solidify the uptick from intraday lows of $9.10.

The declines had put AVAX price down about 4% in the past 24 hours amid wider market weakness, with most altcoins shedding gains after Bitcoin briefly slipped below $75,000.

While the pullback in BTC could continue to pressure altcoins, could AVAX bounce to above $10.00 as the project hits a new high in terms of distributed real-world assets?

Avalanche RWA ecosystem sees sharp growth

Latest data indicates that Avalanche’s RWA ecosystem has recorded fresh momentum this month, reaching a new milestone for distributed RWAs on-chain.

Distributed RWAs represent assets that use the network as a distribution layer to enable investors to subscribe, hold, and manage tokenized securities or instruments through wallets or custodians.

Rwa.xyz values Avalanche shared shows the metric has surpassed $1.16 billion, with the network posting roughly 58% growth in distributed RWA value over the past two weeks.

Much of the uptick to increased activity from large institutional issuers and managers, notably BlackRock’s additional allocations to its USD Institutional Digital Liquidity (BUIDL) Fund.

Such flows into Avalanche-based products have pushed capital onto the chain, attracted liquidity providers, and boosted ancillary services such as custody, compliance tooling, and secondary-market trading.

As a whole, these services make Avalanche an appealing distribution layer for tokenization projects.

Industry observers say the growth reflects a broader trend by which the global value of tokenized assets has expanded significantly over the last year as institutions race to capture efficiencies from programmable settlement and fractional ownership.

AVAX price outlook

The AVAX token has struggled to recapture the momentum that pushed it to highs of $33 in late 2025.

From a technical perspective, AVAX’s daily chart shows the token under short-term pressure.

The Relative Strength Index (RSI) has edged lower toward neutral territory, signaling that momentum has weakened following the recent retracement.

 

Key support levels to monitor include $9.00 and $8.30, which align with recent intraday lows.

A deeper support band lies near $7.40, a level that would be tested if broader risk-off selling intensifies.

On the upside, resistance could emerge around $10.40, where sellers previously capped rallies.

The $12 area offers a more significant barrier tied to moving-average confluence and prior supply.

What’s the near-term outlook?

In the near term, AVAX’s direction is likely to remain correlated with BTC price action and institutional flows into Avalanche’s RWA products.

Renewed buyer interest, particularly if institutional subscriptions continue, could propel a recovery toward resistance.

Conversely, a sustained crypto-wide pullback would increase downside risk and test the supports outlined above.

The post Avalanche hits RWA milestone as AVAX price holds key level appeared first on CoinJournal.