Kategorie: Crypto News

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Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’

Bitcoin is holding steady above the $118,800 mark as the market digests its recent powerful rally to a new all-time high of over $122,000.

While on-chain data now indicates that the first wave of heavy profit-taking has begun, particularly among short-term holders sitting on significant gains, some analysts believe that historical patterns still suggest room for another push higher, though they are also warning that “overheating” signals are beginning to flash.

In a recent report, on-chain analytics firm Glassnode highlighted that “short-term holders are now sitting on significant unrealized profits,” a condition that is pushing key indicators “towards overheated territory.”

The Short-Term Holder Relative Unrealized Profit metric recently hit 15.4%, breaching a key statistical threshold (+1 standard deviation) before cooling slightly. Historically, this level “often marks the beginning of top formation,” according to Glassnode.

The firm also pointed to the Realized Profit to Loss Ratio, which recently spiked to a staggering 39.8, “well above the +2 standard deviation threshold,” signaling a period of intense profit-taking from successful traders.

Although this ratio has since declined to a more moderate 7.3, the elevated reading remains consistent with behavior typically seen in the late stages of a bull market.

“So far, both the Percent of Spent Volume in Profit and the Realized Profit to Loss Ratio have signaled the first wave of excessive profit-taking,” the report concluded.

While this doesn’t necessarily mark a definitive market top, Glassnode cautions that “such top formations tend to unfold across multiple waves,” with the next major resistance level for Bitcoin projected to be around the $130,000 mark.

The great rotation: traders move into altcoins

As Bitcoin’s near-term upside appears increasingly constrained by this profit-taking pressure, some traders are beginning to rotate their capital into major altcoins.

Ethereum (ETH) surged an impressive 7.5% in the past 24 hours, outpacing Bitcoin and breaking out of a recent consolidation phase.

Analysts have pointed to the recent advancement of the GENIUS Act, a stablecoin regulation bill, as a potential catalyst for ETH’s strong performance.

Solana (SOL) also saw a significant jump, up 5%, buoyed by fresh on-chain data showing that Galaxy Digital had accumulated $55 million worth of SOL within a tight two-hour window, withdrawing the tokens from multiple centralized exchanges.

This rotation into major altcoins like ETH and SOL suggests that while Bitcoin’s broader market structure remains intact, traders are seeking opportunities for higher returns in other parts of the crypto ecosystem.

Coinbase’s big rebrand: from ‘Wallet’ to ‘Base App’

In a significant development for the broader crypto ecosystem, Coinbase has officially rebranded its popular Wallet product as the ‘Base App’.

This move confirms speculation that had been swirling since the company scrubbed its X profile earlier this week.

The rebranding positions the app as a central gateway into the burgeoning Base ecosystem, which is now being pitched as a full-stack, on-chain platform designed for mainstream adoption.

The rebrand was officially announced during Coinbase’s “A New Day One” event, which also unveiled a broader vision for the Base ecosystem, now built around three key pillars: the existing Layer-2 network, Base Chain; a new developer toolkit suite dubbed Base Build; and the newly launched Base App.

Unlike its predecessor, the Coinbase Wallet, the new Base App is designed to be much more than just a place to store crypto.

It will integrate chat functionalities, payments, trading, and a mini-app marketplace that supports a wide range of social and financial experiences.

This is not Coinbase’s first attempt at a wallet makeover (long-time crypto users will remember its original wallet, “Toshi”), but it is arguably its most ambitious.

With the Base ecosystem increasingly distancing itself from the parent Coinbase brand, the new app appears designed to emphasize Base’s distinct identity as a more decentralized, open ecosystem—one that is anchored in the core values of crypto but packaged in a user-friendly way for the everyday consumer.

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US House revives Crypto Week agenda, advances three crypto bills

  • Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act.
  • The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback.
  • Many House Democrats continue to push against all three bills.

The US House of Representatives voted narrowly on Wednesday to resume its push on a slate of high-profile cryptocurrency bills, reviving what Republican lawmakers have dubbed “Crypto Week” after the initial attempt to advance the legislation collapsed earlier in the week.

Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act — or GENIUS Act — which establishes a regulatory framework for US dollar-pegged stablecoins and has already cleared the Senate.

If passed in the House later this week, the bill would head to President Donald Trump’s desk for his signature.

In a separate vote, the House also agreed to move forward with the Digital Asset Market Clarity Act, commonly referred to as the Clarity Act, which would delineate regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for overseeing digital assets.

A bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals will also move to a final vote.

Tuesday’s vote collapsed amid GOP defections

The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback, when the House voted 196 to 223 against even considering the three bills.

That vote saw a bloc of Republicans defect over concerns about the CBDC provisions in the GENIUS Act.

According to reporting from The Hill, GOP Reps. Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna were among those who voted no.

Greene cited lingering concerns that the GENIUS Act might provide a legal foundation for the Fed to roll out a digital dollar — a claim that has been denied by the bill’s authors.

Following the failed vote, President Trump intervened directly, telling reporters late Tuesday that “key lawmakers” had agreed to support the bill.

His comments were widely interpreted as helping to unify GOP ranks ahead of Wednesday’s procedural votes.

Democrats oppose measures, call them dangerous

No Democrats supported moving forward with any of the bills, setting the stage for a partisan showdown as the legislation moves toward final passage votes.

In a press conference earlier on Wednesday, House Financial Services Committee ranking member Maxine Waters warned that both the GENIUS and Clarity Acts would dangerously deregulate the crypto sector.

“These bills are a gift-wrapped invitation for Trump to continue his full-scale crypto con,” Waters said, calling the legislation “two of the most dangerous pieces of legislation” proposed during the current session.

Democrats have also voiced concerns that the bills would undermine consumer protections and erode the Fed’s authority, especially as Republicans seek to ban the issuance of a Fed-backed digital dollar.

The post US House revives Crypto Week agenda, advances three crypto bills appeared first on CoinJournal.

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ADA price jumps as Cardano founder Charles Hoskinson responds to scam allegations

  • Cardano (ADA) has jumped 39% in July amid bullish technical patterns.
  • Cardano founder Charles Hoskinson has denied scam claims.
  • A break above $0.80 could push ADA toward $1 and beyond.

Cardano (ADA) has surged in value following a mix of bullish technical patterns and a heated public exchange involving its outspoken founder, Charles Hoskinson.

The price of ADA currently sits at around $0.75, climbing over 39% in July alone and catching the attention of traders and analysts alike.

Despite the distraction caused by the scam allegations levelled against Input Output (IOG), Cardano’s strong price action and favourable chart structures suggest that its bullish trend remains intact.

Hoskinson hits back at online scam claims

A person named Robin Engraf emailed Hoskinson, accusing Gabriel Martin, allegedly from Input Output (IOG), of embezzling funds during a supposed “trade withdrawal.”

Engraf claimed to have months of chat logs and bank records, urging US authorities to act.

In response, Hoskinson, the founder of Cardano and IOG, has responded to the email publicly, dismissing the accusation as not only baseless but also a reflection of broader gullibility in crypto communities.

In a stern statement, Hoskinson has criticised the trend of blaming public figures for falling victim to scams, calling out what he described as “carelessness and stupidity.”

He emphasised that such incidents are not new and have been occurring for nearly a decade, largely due to impersonators and false promises of extraordinary returns.

Hoskinson didn’t hold back as he argued that people often refuse to take responsibility after being deceived by schemes that promise easy profits.

He noted that victims of scams frequently turn their frustrations toward legitimate figures and companies, despite having no evidence of wrongdoing on their part.

While Hoskinson’s remarks sparked debate online, they also served as a reminder of the ongoing risks tied to impersonation fraud in the cryptocurrency space.

His message, though controversial, aligned with years of warnings about avoiding offers that seem too good to be true.

Current Cardano price action signals a bullish momentum

Even as this public spat unfolded, ADA’s market performance has continued to impress.

The cryptocurrency recently broke out of a long-standing downtrend around $0.63 and has since climbed steadily, forming a series of higher lows and testing resistance at $0.78.

According to market analysts, ADA is currently forming a symmetrical triangle pattern on the 4-hour chart, often a bullish continuation signal.

If the price pushes decisively above $0.80, it could open the path toward $0.84 and potentially even the psychological $1.00 mark.

Technical indicators also appear to support this view, with the Relative Strength Index (RSI) climbing above 70 and the Moving Average Convergence Divergence (MACD) maintaining a bullish crossover on both daily and weekly timeframes.

On-chain volume has also increased during price rallies, further supporting the case for sustained upward momentum.

Trader sentiment has tilted strongly bullish

Alongside strong technicals, trader positioning continues to lean bullish.

According to TapTools, over 70% of open positions on Hyperliquid and Binance are long on ADA, suggesting that the broader market expects further gains in the near term.

This confidence has been building as ADA remains above key support levels, particularly the $0.73 mark.

ADA’s price range over the last 24 hours has fluctuated between $0.7151 and $0.7536, with current levels testing the $0.78 resistance zone.

If bulls manage to flip this zone into support, analysts expect a smooth move toward higher targets in the coming weeks.

Despite the lingering distraction caused by the scam allegations, traders appear more focused on ADA’s improving fundamentals and technical posture.

Hoskinson’s blunt response may have sparked debate, but it has not shaken the conviction among ADA supporters.

The long-term ADA price outlook is optimistic

With its market cap standing at over $27 billion and a circulating supply exceeding 36 billion tokens, ADA continues to rank among the top 15 cryptocurrencies.

Analysts like StonkChris see potential for ADA to revisit the $2 level later this year, especially if broader market sentiment continues to shift risk-on.

The recent launch of Reeve, an open-source middleware platform by the Cardano Foundation, adds another layer of optimism.

The initiative aims to bridge blockchain with traditional ERP systems, reinforcing ADA’s use case in enterprise environments.

In the short term, all eyes are on ADA’s ability to hold key support levels and break through resistance with conviction.

As technicals align with market sentiment, ADA may be setting up for one of its most important moves of the year.

While controversy continues to swirl around its founder, Cardano’s price action remains strong, reminding the market that, in crypto, fundamentals often speak louder than headlines.

The post ADA price jumps as Cardano founder Charles Hoskinson responds to scam allegations appeared first on CoinJournal.

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Chainlink price forecast amid US asset tokenization push with Blockchain Association partnership

  • Chainlink (LINK) eyes a breakout with $17.5 as a key resistance level.
  • Chainlink partners to promote tokenisation across US states.
  • Technicals and sentiment support a bullish price outlook.

Chainlink (LINK) is once again making headlines, this time for a pivotal partnership with the Blockchain Association aimed at promoting asset tokenisation across the United States.

As the crypto market eyes broader institutional adoption, this development is expected to strengthen Chainlink’s utility and market position, while also giving a potential boost to its token price.

The strategic alliance introduces the “Tokenized in America” initiative, a nationwide effort to expand the use of blockchain technology in representing real-world assets (RWAs) on-chain.

The partnership boosts Chainlink’s visibility

The partnership between Chainlink (LINK) and the Blockchain Association goes beyond policy advocacy and dives into real-world blockchain applications at the state level.

It aims to educate policymakers while tracking tokenisation progress across the country.

Chainlink’s decentralised oracle networks are at the heart of this initiative, providing trusted data feeds that are critical for bridging on-chain and off-chain information.

This capability is essential when governments or institutions seek to tokenise assets such as real estate, stablecoins, or treasury instruments.

As part of the initiative, Chainlink’s Proof of Reserve (PoR) system is expected to enhance transparency by offering cryptographic validation of collateral backing digital assets.

This added trust mechanism could attract state agencies and financial institutions that require secure and verifiable asset representation.

Chainlink price analysis

On the technical front, Chainlink’s price action has aligned with the optimism surrounding its recent policy-driven visibility.

Currently trading above $16, Chainlink (LINK) has gained significant ground in recent days, climbing more than 18% in just a week.

Notably, $16 has acted as a tough resistance level, proving to be a critical zone for traders, with several analysts pointing to a sustained break above it as the gateway to further gains.

Holding above this level could push LINK toward the next target zone, which ranges between $17.50 and $18.20.

Momentum indicators support the bullish outlook, with the Aroon Up indicator registering at 85% and the Accumulation/Distribution line reflecting steady buying pressure.

These metrics suggest that buyers are firmly in control, and any minor retracements are likely to be met with accumulation rather than panic selling.

Chainlink (LINK) price outlook

According to market analysis, Chainlink (LINK) must remain above $16.42 to sustain its current momentum.

A close above this level increases the probability of retesting the first major resistance at $17.95, which could then unlock a path to $19.11 and potentially $20.82 if bullish momentum persists.

Conversely, failure to maintain support above $16.42 could see the price slide toward $15.35, a key lower support that many traders are watching closely.

Analysts like Matthew Dixon also warn of a potential retest in the $14.50–$15 range before a fresh rally can be confirmed.

Nevertheless, sentiment remains largely positive, as reflected in Chainlink’s Fear and Greed Index, which continues to signal bullish market behaviour.

A breakout above $17.5, often described as the trigger level, may accelerate the move toward $22, according to some technical forecasts.

The long-term vision aligns with the tokenisation trend

Chainlink’s ongoing involvement in the tokenisation of RWAs places it at the centre of a massive transformation in the financial system.

As institutions like Franklin Templeton, Superstate, and Securitize move assets on-chain, the need for secure, interoperable infrastructure becomes urgent.

With its Cross-Chain Interoperability Protocol (CCIP), Chainlink is poised to connect blockchain platforms across states and institutions, enabling secure asset transfers and data communication between disparate systems.

The “Tokenized in America” initiative acts as both a policy tool and a technological showcase, potentially setting the stage for Chainlink (LINK) to become a national standard in public-sector blockchain use cases.

The post Chainlink price forecast amid US asset tokenization push with Blockchain Association partnership appeared first on CoinJournal.

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BONK rallies 20% to outperform other major coins, eyes $0.000040

Key takeaways

  • BONK is the best performer among the top 100 cryptocurrencies by market cap, up 20% in the last 24 hours.
  • The memecoin has added 60% to its value in seven days and now eyes the $0.000040 resistance.

BONK outperforms other major cryptocurrencies

BONK, Bonk’s native token, is the best performer among the top 100 cryptocurrencies by market cap. The memecoin has added 20% to its value in the past 24 hours and now trades at $0.00003426 per coin.

The rally comes amid renewed optimism in crypto markets, with altcoins leading the charge. Memecoins are currently outperforming other narratives, with DOGE, WIF, SHIB, FLOKI, and PEPE all in the green. 

Furthermore, this rally is fueled by BONK’s inclusion on Grayscale’s institutional surveillance list. The milestone legitimizes the memecoin in the eyes of broader market participants.

BONK eyes $0.000040 resistance amid growing demand

The BONK/USD 4-hour chart is currently bullish thanks to the memecoin’s excellent performance. The technical indicators are extremely bullish, suggesting that buyers are in firm control.

BONK/USD 4H Chart

The pair is set to challenge the $0.000035000 level, a psychological barrier that could open room for further upside if the broader rally continues. If the rally continues, BONK could test the major resistance level at $0.00004047, setting a new yearly high in the process. However, it would need the help of the broader market to hit the $0.00004870 resistance level in the short term. BONK would likely drop to the $0.00003069 level to gain efficiency before it resumes its rally.

The RSI of 80 shows that BONK is currently in the overbought region and could face a slight retracement soon. The MACD lines are also in the bullish zone, indicating that buyers are currently in control of the market.

On the downside, if bears regain control, BONK could retest the TLQ level at $0.00002705 in the short term. An extended bearish run would allow BONK to drop to the last major Break of Structure (BoS) at $0.00002476.

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