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The US Securities and Exchange Commission (SEC) has opened a public comment period for the XRP and Solana ETFs proposed by Franklin Templeton. These ETFs, which are planned to be listed on the Cboe BZX exchange, are undergoing the agency’s official evaluation process, with a final decision expected by July 2025. The SEC had previously approved spot Bitcoin and Ethereum ETFs; XRP and Solana are currently among the first major altcoin ETF candidates in the approval process.The SEC’s decision could shape the altcoin ecosystemA significant development has occurred in the cryptocurrency world: Asset management giant Franklin Templeton’s XRP and Solana (SOL)-based ETF applications have been taken under review by the US Securities and Exchange Commission (SEC). The public comment period for these funds, which are planned to be traded on the Cboe BZX exchange, will continue until July 2025. It is stated that if approval is granted during this process, there could be a significant break in the altcoin market. This step taken by Franklin Templeton, one of the leading firms in the field of traditional finance, has already attracted attention in the cryptocurrency field. Previously, institutional investors were seen to have entered the market on a large scale with the approval of spot Bitcoin ETFs. Now, a similar effect may be experienced in altcoins such as XRP and Solana.The fact that Franklin Templeton's XRP and Solana ETF applications are currently under SEC review indicates that these products have not yet been approved and are subject to a detailed evaluation process by the US regulatory agency. During this process, the SEC analyzes the application's compliance with the law, whether it sufficiently protects the investor, and whether it is open to the risk of manipulation in the market. In addition, the applications have been opened to public comment.Franklin Templeton is not the first company to apply for an ETF for XRP and Solana. Many asset management companies such as Bitwise, ProShares, and 21Shares have also applied to the SEC to launch similar products.There has been a noticeable change in the SEC's approach to crypto assets with the Trump administration. Under the leadership of new chairman Paul Atkins, the agency has recently withdrawn some major sanctions files against crypto companies.XRP and Solana are seeing increased activity: Will it reflect on prices?The increase in on-chain activity on the XRP network ahead of the SEC’s decision suggests that investors are already pricing in a potential approval. Similarly, the recent fluctuations in Solana prices are also linked to this expectation. According to market data, Solana (SOL) is currently trading at $148.09 and has a market cap of $78.17 billion. While trading volume decreased by 19.04 percent in the last 24 hours, there were increases of 6.22 percent in the last 60 days and 10.18 percent in the last 90 days.
Iran's largest cryptocurrency exchange Nobitex has announced that it has been subject to a major cyber attack. According to the statements, the attack targeted the exchange's hot wallets and while it was initially claimed that there was a loss of $48.65 million, it was later reported that this amount reached $73 million. The allegations regarding the attack were revealed by blockchain detective ZachXBT.Statement from NobitexNobitex stated in a statement it made on X (former Twitter) on June 18 that its technical teams detected unauthorized access to the system. The company announced that it suspended all access immediately after the attack and launched a comprehensive internal security investigation. The statement emphasized that users' funds in cold wallets were safe and that all losses would be covered by Nobitex's insurance fund and its own resources.Exchange officials said, "Nobitex is fully responsible for this incident. Our users' losses will be fully covered." The company's website and mobile application were also temporarily closed during the investigation.Who is behind the attack?Investigating the details of the attack, ZachXBT stated that the suspicious transactions took place on the Tron network and that the wallet address used by the hacker contained a striking phrase such as “TKFuckiRGCTerroristsNoBiTEX…” The phrase “IRGC” (Iranian Revolutionary Guard Corps) in the address raised the possibility that the attack could be based on political motivation.According to ZachXBT, the attack was not limited to the Tron network. Suspicious exits from wallets belonging to Nobitex also occurred on Ethereum Virtual Machine (EVM) chains.Statement from the Israeli-linked hacker groupImmediately after the cyber attack, a hacker group identifying itself as “Gonjeshke Darande” (Turkish for “Sparrow of Prey”) claimed responsibility for the attack. In a statement made on the social media platform X, the group described Nobitex as one of the Iranian regime’s means of financing terrorism and evading global sanctions. The group said: “Nobitex is at the heart of the regime’s efforts to finance terrorism around the world and is used as a primary tool to evade sanctions. That’s why we launched cyberattacks against the platform.”Furthermore, the group’s statements claimed that Nobitex employees are considered military personnel under Iranian law and that the platform is part of the country’s defense and intelligence infrastructure. The hackers threatened to release Nobitex’s source code and internal data within the next 24 hours.Iran-Israel tensions spill over into cyberspaceThis incident showed that the recent escalation of tensions between Iran and Israel has spilled over into the cryptocurrency world. The political and ideological conflicts between the two countries have escalated into open conflict with mutual missile attacks in recent weeks. This tension has also led to volatility in cryptocurrency markets. According to market data, approximately $1 billion worth of positions were liquidated in the market since the clashes began, but the Fear and Greed Index still remains in the “greed” zone.
FIL Technical AnalysisLooking at the FIL chart, we can see that there is a double-bottom formation possibility or an inverse head-and-shoulders formation in case the price reacts from the upper band of the channel again. It is clear on the chart that the price of the coin has recovered from the level of $2.00–$2.20 many times before, as this price zone has acted as a strong support so far. In short, the price moving within the descending channel could be forming a new bottom in the lower band of the channel for the time being. Falling Channel Structure The chart displays quick ups and sharp pullbacks following previous major downs; however, the pattern forming in a similar bottom area could be signaling a reversal in the price. $3.17 could be an ideal target in case of upward movements, and if it is passed successfully, other mid-term targets like $5.00 and $8.15 are technically possible.As seen on the chart, as long as the upper band of the channel, $5.00–$5.50 range, is not broken, it is highly improbable for the pattern to gain confirmation. If this price zone gets broken upwards, then the formation will be confirmed and major targets could be spoken of later.To summarize, Fil coin is trading in a bottom area where buyers seem strong. If the formation continues, then we could see a major reversal in the price in the coming days.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss (SL) in relation to shared transactions.
Aptos (APT) Technical AnalysisAs clearly seen on the chart, the price of the coin has been trading in a descending channel for a very long time. This pattern, causing the price to react from the upper band of the channel with each upward movement, has started forming in January 2025 and still continues. Aptos is currently trading in a very critical area, close to the lower band of the channel, and intersects with the horizontal support. Falling Channel Structure The zone $4.30–$4.00 is where buyers are quite strong, and we see that the price has reacted from this support area many times before. Aptos price could go up to the $4.70–$4.90 range again with buying pressure coming from this support zone. However, the price range $5.48–$5.72 can be expected to act as an intermediate resistance in possible upward movements.The price needs to go above $6.40 for an upward breakout, as this price level appears to be the upper band of the descending channel. If this level is broken upwards, then we might see a quick rise up to the level of $7.25–$8.62; otherwise, the price could go up and down within a limited area in the descending channel. Aptos could offer a short-term buy opportunity if a bottom structure may form in the support area, even though the overall pattern does not look positive. Still, $3.70 could be on the table if the lower band of the channel gets broken downwards.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss (SL) in relation to shared transactions.
FET Technical AnalysisLooking at the daily chart of FET/USDT, it is clear that there is a descending channel formation, which has perfectly worked up to this day since the beginning of 2024. FET Downward Channel The price of the coin is now trading in the middle band of this channel, where the level of $0.65–$0.70 acts as a major support. The price has reacted from this support level earlier. If there come daily closures below this support level, $0.69, the price might first go down to $0.53 and then to the channel trend support level of $0.33.In terms of upward movements, we first need to witness closures above $0.70 if we want to speak of the level $0.87, above which $1 — trend resistance level — may be the first target. Technically speaking, the next trend test will bring a breakout, which is highly probable.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss (SL) in relation to shared transactions.
The long-running legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has been postponed once again. In a new notice of hearing filed with the U.S. Court of Appeals for the Second Circuit, the SEC requested that the appeals process be suspended for another 60 days. The request follows a joint filing by the parties in April, which also led to a 60-day stay in the case.Appeals suspended, parties seek settlementAs per the SEC’s latest request, the case has been officially suspended until August 15, 2025. This period gives the parties time to reach a settlement and ask the court to reconsider certain provisions. Two important issues stand out in particular:Removal of the permanent injunction against Ripple’s token sales to institutional investorsReduction of the fine to be applied from $125 million to $50 millionIf the parties reach an agreement and the court approves these proposed changes, the case will be significantly lightened from both a criminal and regulatory perspective. The court rejected the first attemptAs it will be recalled, in April, the SEC and Ripple jointly applied to the court and requested an “indicative decision” with the conditions set out above. However, this attempt was rejected by Judge Analisa Torres on May 15. Judge Torres ruled that the “extraordinary circumstances” required for the decision to be changed did not exist.Thereupon, the parties tried their luck again with a new application on June 12. Within the scope of this new application, the SEC and Ripple are asking the court to both reduce the penalty and lift the permanent injunction. However, this request is still under evaluation and the court is expected to make its final decision.What will be the roadmap for XRP?If the agreement is approved and the restrictions on Ripple are lifted, this could have a positive impact on XRP prices. Some lawyers and market analysts interpret this pause as a strategic step. It is stated that the parties prefer to compromise, especially in order to avoid a longer and more costly appeal process.Amid these developments, XRP's market value has reached $ 130.5 billion. According to market data, XRP has shown a slight increase in the last 24 hours and is trading at $ 2.21. Every decision to be made in this legal process between the SEC and Ripple could determine the direction of cryptocurrency regulations in the US. Therefore, all eyes are now on the new hearing notice to be shared on August 15, 2025. No progress is expected in the case until then. Although hopes were shaken by the rejection of the first application, all eyes are now on the decision to be made from the new application. For XRP investors, this uncertainty continues to be the main factor affecting both price movements and market psychology.
JPMorgan, one of the world's largest banks, has taken another notable step into the world of crypto assets. On June 15, 2025, the bank filed an application with the United States Patent and Trademark Office (USPTO) for a new trademark called “JPMD.” The application covers a wide range of services, including blockchain-based asset trading, payment services, and digital asset issuance. This has also sparked speculation that JPMorgan is preparing to launch a new stablecoin.JPMorgan has filed a new applicationJPMorgan's application for the “JPMD” trademark includes a number of financial services based on distributed ledger technology (DLT). These include the purchase and sale of crypto assets, custody services, electronic fund transfers, debt swaps, securities brokerage, and payment processing. Additionally, the application documents highlight solutions for fraud prevention, account verification, and data sharing for cross-border payment systems. Although the term “stablecoin” is not directly mentioned in the application, the comprehensive definitions and service areas create a strong impression that JPMorgan has concrete plans for stable cryptocurrencies. In particular, the statement that functions such as debt exchange and brokerage services will be carried out using blockchain infrastructure suggests that an infrastructure for the digitization and tokenization of real-world assets is being prepared.JPMorgan entered the blockchain world with KinexysJPMorgan took its first step into the blockchain world much earlier. The bank developed the Kinexys platform (formerly known as Onyx), based on a private version of Ethereum, and launched its own cryptocurrency, JPM Coin, on this platform. JPM Coin is used to speed up transfers between corporate customers as tokens pegged one-to-one to fiat currencies such as the US dollar, British pound, and euro.The Kinexys infrastructure, which reached an average daily transaction volume of $2 billion as of April, forms an important foundation for JPMorgan's stablecoin projects. Thanks to this infrastructure, the bank appears poised to develop new cryptocurrency solutions accessible to a broader audience.Dimon takes a cautious approach to blockchainJPMorgan CEO Jamie Dimon has long maintained a critical stance toward Bitcoin and other cryptocurrencies. He has even compared Bitcoin to “cigarettes” and frequently stated that he does not personally invest in it. However, Dimon does not deny the potential of blockchain technology. In a statement made in late 2024, he emphasized that JPMorgan is “one of the most intensive users of blockchain.”JPMorgan's move gains further significance amid the growing number of stablecoin projects from major tech and financial companies. Retail giants like Amazon and Walmart are considering launching their own cryptocurrencies, while major banks like Bank of America, Citigroup, and Wells Fargo are in talks about a joint stablecoin project.
Canada is making another first in the cryptocurrency market. Purpose Investments, one of the country's leading asset management companies, has received official approval from the Ontario Securities Commission (OSC) for Canada's first spot XRP exchange-traded fund (ETF). This new product, which will trade under the name “Purpose XRP ETF,” will be available to investors on the Toronto Stock Exchange (TSX) on Wednesday, June 18, 2025.The XRP ETF will be offered to investors in three different optionsThe new ETF will be available in different formats to suit investors' needs:XRPP – Canadian dollar-based and currency-hedged versionXRPP.B – A version denominated in Canadian dollars without currency riskXRPP.U – A version denominated in US dollarsThese funds will provide investors with direct exposure to XRP price movements without requiring them to deal with technical details such as private key management or digital wallet usage. Furthermore, these ETFs can be held in accounts such as Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs), which offer tax advantages in Canada. This feature provides a significant financial incentive for individual investors.Vlad Tasevski, Purpose Investments' innovation officer, stated that this approval is significant not only for the XRP ETF but also for highlighting Canada's pioneering role in global digital asset regulation. In his statement, Tasevski said, "The OSC's approval once again demonstrates Canada's global leadership in creating a regulated crypto asset ecosystem. We are proud to offer accessible products that bridge the gap between blockchain and traditional finance."Purpose had previously been a pioneer in Canada with its Bitcoin and Ethereum ETFs, successfully attracting institutional investors to the crypto asset ecosystem. With the XRP ETF, the company has further expanded its crypto-based product range. The XRP price responded slightly positively to this development. The US is lagging behindAn XRP-based spot ETF has been on the agenda in the US for a long time but has not yet been approved. In particular, the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC) poses a significant obstacle in this process. However, Canada stands out as one of the first countries to launch this product. As the second country after Brazil to approve an XRP ETF, Canada's move could also increase pressure on the U.S.Moreover, this development is occurring despite the election of a prime minister known for his anti-cryptocurrency rhetoric in March 2025. The resolution of the SEC's lawsuit against Ripple could pave the way for a potential XRP ETF approval in the US. On the other hand, BlackRock, the world's largest asset manager, has not yet applied for an XRP-based product, but analysts believe this step is imminent.
TRON (TRX), led by Justin Sun, one of the controversial figures in the cryptocurrency world, is preparing to go public in the US with a remarkable move. Instead of a traditional initial public offering (IPO), TRON has chosen to pursue a “reverse merger” with SRM Entertainment, a company listed on NASDAQ, thereby gaining backdoor access to US public markets.New company: Tron Inc. and a $210 million strategyAccording to a June 16 report by the Financial Times, the new company that will emerge from the merger will be named “Tron Inc.” This entity will launch with an initial investment of $210 million in TRON's native token, TRX. The investment will be provided by Justin Sun's crypto asset platform. Additionally, SRM Entertainment has secured a $100 million equity investment through a securities purchase agreement with a private investor.Tron Inc.'s long-term vision aims to establish a sustainable revenue model through the purchase and staking of TRX tokens. The company also plans to implement a dividend distribution policy. Following these developments, the TRX price rose by approximately 7% to $0.2841. Eric Trump's name is drawing attentionAnother striking aspect of this development is the emergence of Eric Trump, the son of US President Donald Trump, in a leadership role at Tron Inc. This move is seen as reinforcing Justin Sun's recent pro-Trump steps. As is well known, Sun previously launched a Trump-themed TRUMP memecoin and also launched a stablecoin called USD1 under the World Liberty Financial umbrella. This merger process is being managed by New York-based investment bank Dominari Securities. The bank's connections to the Trump family are also a notable detail.Has the SEC lawsuit been put to rest?TRON's public offering comes after Justin Sun faced a lawsuit filed by the US Securities and Exchange Commission (SEC) in 2023. The SEC had accused Sun of manipulating the price of the TRX token. However, in February 2024, the SEC's new administration decided to shelve such aggressive crypto lawsuits, and the charges against Sun were dropped. This development paved the way for Sun's return to the US market.The TRON network currently has over 310 million international user accounts and an average daily transaction volume exceeding $20 billion. According to Justin Sun, TRON aims to transform global payment systems by providing low-cost and fast transfer capabilities. In this context, the newly established Tron Inc. is expected to expand the TRON protocol to a broader user base in the U.S. market.
Truth Social, US President Donald Trump's media venture, has taken a bold step into the cryptocurrency market. The platform, which operates under the Trump Media & Technology Group umbrella, officially filed an application with the US Securities and Exchange Commission (SEC) on June 16, 2025, for a Bitcoin and Ethereum ETF (exchange-traded fund).Bitcoin and Ethereum ETF application from Truth SocialAccording to the application filed by Truth Social, investors will be offered direct exposure to both Bitcoin (BTC) and Ethereum (ETH) assets. The fund, which is planned to be traded on the NYSE Arca exchange under the ticker symbol B.T., will allocate 75% of its investment portfolio to Bitcoin and 25% to Ethereum. The fund is sponsored by Yorkville America Digital, a New Jersey-based crypto asset firm. Custody services will be provided by Crypto.com. Devin Nunes, CEO of Trump Media & Technology Group, which owns Truth Social, described the new ETF application as part of the company's digital finance vision. In his statement, Nunes said, “At Trump Media, we continue to aggressively develop our products and services. As part of this vision, our Bitcoin reserves are also growing.”This crypto initiative from the Trump camp has resonated not only in the investment world but also in political circles. As recalled, Trump openly supported Bitcoin mining in his 2024 election campaign and argued that the US should become a “crypto production hub.”The company's strategic approach to digital assets is not limited to the ETF application. Trump Media also announced that it has raised approximately $2.3 billion in capital. This funding was secured from approximately fifty investors through debt financing and stock subscription agreements. In another document submitted to the SEC, it was noted that the company had registered approximately 56 million shares of common stock and 29 million shares of convertible bonds for resale. Devin Nunes emphasized that these financial activities were conducted to support the company's growth strategy and expansion plans.Bitcoin price nears 107,000 dollarsTruth Social's ETF application was also welcomed positively in the cryptocurrency market. According to market data, Bitcoin rose to $106,777, up 1.6% following the news. The market value exceeded $2.12 trillion, while the 24-hour trading volume reached $42 billion. Bitcoin's market dominance is currently at 63.66%. A limited increase was also observed on the Ethereum side. Market players expect a significant upward momentum in both BTC and ETH prices if the ETF is approved by the SEC.An ETF application featuring Trump's name is expected to be particularly influential, especially given the current regulatory process for cryptocurrencies. All eyes are now on the SEC's decision.
Institutional interest in cryptocurrency markets continues to grow. According to CoinShares' weekly report, demand for crypto asset investment products has not weakened despite geopolitical tensions. This trend, supported by US-based entries in particular, has increased institutional interest not only in leading coins such as Bitcoin and Ethereum, but also in altcoins such as XRP, Sui, and Solana. According to the latest data, investments in cryptocurrencies have reached their highest levels of the year, with some altcoins showing signs of recovery.CoinShares report: Net inflows into cryptocurrenciesDespite geopolitical tensions dampening global risk appetite, cryptocurrency investment products maintained their steady upward trend, earning investors' confidence. According to CoinShares' report dated June 16, 2025, there was a net inflow of $1.9 billion into crypto assets last week. This marks the ninth consecutive week of inflows, with the total inflow since the beginning of the year reaching a record $13.2 billion.When looking at regional data, the United States was, as expected, the country with the highest investor interest. The United States maintained its lead with $1.92 billion in weekly inflows, followed by Switzerland ($20.7 million), Germany ($39.2 million), and Canada ($12.1 million). In contrast, outflows of 56.8 million dollars and 8.5 million dollars were observed in countries such as Hong Kong and Brazil, respectively.Bitcoin and Ethereum investments at the top, XRP and Sui also saw interestBased on asset-based evaluation, Bitcoin remained the main focus of investors with a weekly inflow of 1.325 billion dollars. This strong performance further boosted Bitcoin's total inflows since the beginning of the year to 11.4 billion dollars. Additionally, 3.7 million dollars in inflows were recorded for short Bitcoin products. There was also notable activity in the Ethereum sector. The weekly inflow of 583 million dollars marked the highest level seen since February. Ethereum's total inflows over the past few weeks reached $2 billion, bringing its share of assets under management (AuM) to 14%. In addition to these two major assets, XRP and Sui also regained investor interest with inflows of $11.8 million and $3.5 million, respectively. Solana experienced limited inflows of 1.3 million dollars, while other altcoins like Cardano and Chainlink saw low-volume activity. On the other hand, multi-asset products closed the week in negative territory with -14 million dollars, Chainlink with -0.3 million dollars, and Litecoin with -0.1 million dollars.iShares took the lead, while Fidelity and Grayscale remained in negative territoryOn the fund provider side, iShares stood out with 1.497 billion dollars in inflows from its US-based ETFs, while some major players like Fidelity (-88 million dollars) and Grayscale (-1.659 billion dollars) are still struggling with negative flows. Other providers like Bitwise, ARK 21Shares, and CoinShares XBT have also recorded negative inflows since the start of the year.
Institutional interest in crypto assets has been rapidly increasing among both technology and finance companies in recent times. MemeStrategy's 2,440 SOL token investment through Hong Kong is one of the latest examples of this.MemeStrategy completed its Solana purchaseMemeStrategy Inc., Asia's first publicly traded cryptocurrency company, has drawn attention in the crypto world with its investment in the Solana ecosystem. The company, which is listed on the Hong Kong Stock Exchange, purchased 2,440 SOL tokens worth approximately 2.9 million Hong Kong dollars (approximately 372,000 US dollars). The SOL purchase was made through OSL Group, a digital asset platform licensed by the Hong Kong Securities and Futures Commission (SFC).The company, formerly known as Howking Technology Holdings, was recently acquired and restructured by the co-founder of the famous humor platform 9GAG. During this process, the company changed its name to MemeStrategy and shifted its focus from traditional technology to crypto assets, decentralized applications (dApps), and Web3 innovation. In its official statement regarding the SOL purchase, the company emphasized that this investment is part of its long-term vision related to decentralized finance (DeFi) infrastructure and Web3 innovations. The statement noted that MemeStrategy aims to actively contribute to projects in this field.Markets also responded positively to this strategic move. Following the announcement of the SOL token purchase, MemeStrategy's stock price on the Hong Kong Stock Exchange rose by approximately 28%. Companies continue to add cryptocurrencies to their treasuriesMicroStrategy is known for its large BTC purchases since 2020. As of June 2025, it has added 582,000 Bitcoin to its treasury. Meanwhile, in May 2025, GameStop purchased $513 million worth of Bitcoin and added it to its portfolio. Recently, Trump's media company also announced plans to raise $2.5 billion to purchase BTC. Other notable companies include:Upexi, a Tampa-based consumer products company, is preparing to purchase SOL with a $100 million fundraising plan.ATW Partners, a New York-based company, purchased $500 million worth of SOL tokens.BC Bud Co., a Canada-based company, purchased 250,000 CAD worth of XRP to diversify its treasury.As we reported earlier this morning, Japan-based Metaplanet is another company making headlines with its Bitcoin purchases. By buying an additional 1,112 Bitcoin (BTC), it has increased its total Bitcoin holdings to 10,000. With this move, it has surpassed Coinbase Global to become one of the largest institutional investors holding Bitcoin. The company spent 117.2 million dollars on this purchase.
The crypto markets experienced sharp fluctuations over the weekend. Polyhedra Network's native token, ZKJ, shocked investors by losing 83% of its value in just a few hours following on-chain transactions on June 15. As the ZKJ price dropped from $1.92 to $0.30, the token's market value evaporated by approximately $500 million. At the center of this collapse was another token called KOGE, which was traded alongside ZKJ in connection with the Binance Alpha Points program. The Polyhedra team described the sharp price drop as “abnormal on-chain transactions,” noting that the event was triggered by liquidity withdrawal in the ZKJ/KOGE trading pair. In a statement, Binance explained that the simultaneous withdrawal of ZKJ and KOGE tokens by large wallets resulted in a “liquidation cascade” in the market.KOGE, which is closely related to ZKJ, was issued by the 48 Club DAO in the Binance ecosystem and offered various advantages under the Alpha Points reward program. As the trading volume between the two tokens increased due to these incentives, the sudden sell-off triggered a chain reaction in the system. The KOGE token also fell from $62 to $24 in a similar manner.Liquidity dried up, panic selling beganThe depletion of liquidity in the KOGE/USDT pool played a significant role in the collapse. When investors turned to the ZKJ/KOGE pool as an exit strategy, intense selling pressure formed in the ZKJ/USDT trading pair. According to CoinGecko data, the ZKJ token lost 60% of its value in just 90 minutes, dropping from $1.92 to $0.76. Although it showed a brief recovery, it plummeted again later that day.On-chain analysis indicates that some wallets withdrew significant amounts of tokens to accumulate Alpha Points. One wallet withdrew approximately 60,000 KOGE (approximately $3.7 million) and 273,000 ZKJ (approximately $530,000), while two separate addresses are reported to have sold a total of $5 million worth of tokens. Additionally, the unlocking of 15.5 million ZKJ on June 19 has the potential to further increase selling pressure in the market.Statements from Binance and PolyhedraFollowing the events, Binance announced changes to its Alpha Points calculation system. Starting June 17, transaction volumes between Alpha tokens will no longer be included in the points system. This step aims to prevent similar risks from arising in the markets. As of June 17, 2025, transactions between these two tokens will be considered invalid for points accumulation.The Polyhedra team announced that the situation is being thoroughly investigated and a comprehensive incident report will be published. It was also emphasized that the project's foundations remain solid and the technical infrastructure has not been compromised. However, there is significant distrust within the community. 48 Club DAO has not yet made an official statement.
LINK Technical AnalysisThere is a descending channel pattern forming since the end of April on the 4-hour LINK chart. The price is trading within the lower part of the channel. It is clear that the price has tested the upper and the lower parts of the channel three times so far. It is not safe to say that the price has reacted from the lower part yet. It is possible that the price might go up to the upper trend area — a fourth test — if the price can hold above the trend support level of $12.30–$12.60, which would technically mean a breakout test. LINK Aşağı Yönlü Kanal We can follow the levels $12.30, $11.40, and $10.25 respectively if the price moves downward; $13.50, $14.80, and $15.70 would be the resistance levels in case of an upward movement.A target can be set based on the breakout direction of the channel. The price of the coin is currently trading around $13, and it is positive for the price to hold above the level of $12.60.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop-loss (SL) in relation to shared transactions.
Litecoin (LTC) Technical AnalysisThe price of the coin has maintained its long-term ascending channel, which has existed since around 2018, and this channel has always had a determining role on the price of the coin during its ups and downs.The price is currently trading in an area very close to the mid-band of the channel and is struggling to stay above one of the strong support levels — $71.20. The price of LTC has many times reacted from the $63–$71 level, which is a very important detail on the chart. If the price gains momentum and goes up, $99.62 could be the first major resistance ahead. Should this resistance be broken to the upside, the next target could be set to the range of $139–$157, which is both horizontal and the channel’s upper band, and stands out as a very strong technical zone. Rising Channel Structure It might be derived that the area of $63–$69 should be followed as the last defense line should the price of LTC fall below channel support, and this long-term pattern might be at risk if this level gets broken downward.In short, LTC might be offering great potential for long-term holders/investors. A strong rally could start if we see weekly closures above the level of $100.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to market conditions. However, the responsibility for making transactions and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop-loss (SL) in relation to shared transactions.
