Kalshi's prediction markets for sports resemble licensed sports wagering products, the lawsuit said.
The company signaled it would need the green light from California and Delaware policymakers as part of the restructuring plan.
As the altcoin market experiences a resurgence, XRP has struggled to gain momentum, consolidating between $2.70 and $3 for the past two weeks. Despite the excitement surrounding potential exchange-traded funds (ETFs) that could invest in the altcoin if approved, The Motley Fool has cautioned that the current market correction may persist longer than many anticipate. Warns Of Prolonged Downtrend In a recent analysis, the firm attributed some of XRP’s lackluster performance to a general malaise in the cryptocurrency market, where traders are waiting for Bitcoin (BTC), the market’s leading cryptocurrency, to lead a new price rally. However, two critical factors suggest that XRP may face a more prolonged downtrend than previously expected. The anticipated launch of new spot crypto ETFs has been a focal point of discussion since the beginning of the year. Related Reading: Ethereum (ETH) On The Brink Of A Major Supply Crisis: What It Means For Investors Several asset managers have submitted applications to the Securities and Exchange Commission (SEC) to create spot XRP ETFs, with Bloomberg estimating a 95% approval chance and online prediction markets estimating 94%. While approval seems likely, the real question revolves around the demand for these ETFs. XRP, currently the world’s third-largest cryptocurrency, undoubtedly has some level of institutional interest, yet the actual inflows tell a different story. Data indicates that only $1.25 billion flowed into XRP from institutional investors during the first eight months of 2025. JPMorgan Chase has projected that the upcoming ETFs could attract between $4 billion and $8 billion into XRP. However, the firm asserts that even the lower end of this estimate might not significantly influence XRP’s price action over the long-term, given its current market capitalization of $180 billion. Recovery For XRP May Not Occur Until 2026 While there is considerable optimism among analysts regarding XRP’s future, with some price predictions suggesting it could reach new record prices of up to $4, $5, or even $10, the firms noted that these projections do not account for the risks of short-term price declines. According to crypto betting platform, Polymarket, there is a 32% chance of XRP dropping to $2.50 this year, a 30% chance it could fall to $2.40, and a 27% chance of plummeting to $2. Related Reading: BNB Price Surges to Fresh ATH – Can Bulls Push Toward $1K? These statistics indicate that XRP could continue to drift lower over the next few months before any meaningful recovery takes place, potentially not occurring until 2026. Ultimately, The Motley Fool analysis suggests that any upward movement for XRP is likely to depend on Bitcoin’s performance. If Bitcoin fails to reclaim its previous peak by the end of the year, it will be challenging for XRP to initiate its own rally. As of this writing, the XRP price has recovered the $3.0675 mark, representing a 1.5% surge within the last 24 hours. This pales in comparison to Ethereum’s (ETH) 5% gains within the same time frame. Featured image from DALL-E, chart from TradingView.com
Stablecoin issuer Circle appears set to deepen its role in decentralized finance by preparing a native launch of USD Coin (USDC) on Hyperliquid’s Layer 1 chain, HyperEVM. On Sept. 12, blockchain researcher MLM Blockchain flagged test transactions involving USDC on HyperEVM’s mainnet, suggesting that a native deployment could roll out in the coming weeks. Adding […]
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Bitcoin miners’ current rate of accumulation mirrors a pattern that fueled a 48% rally in 2023, but macroeconomic risks could cap BTC’s gains.
Institutions take the wheel in 2025: HSBC and BNP join Canton, billion-dollar crypto treasuries emerge, Gemini eyes IPO and tokenized gold enters IRAs.
That would be a massive jump as the betting platform raised funds at just a $1 billion valuation just back in June.
Next week is expected see the first Fed rate cut in one year.
Prediction market platforms could be on the verge of raising more capital and seeing their valuations skyrocket.
Ethereum is navigating a turbulent phase, with price action holding around key levels while volatility and uncertainty dominate the broader market. Despite the lack of clear direction, institutional appetite for ETH continues to grow, underscoring confidence in its long-term value. One of the most notable dynamics shaping Ethereum’s outlook is the shrinking supply on exchanges, as more coins move into cold storage and long-term holdings. This trend signals reduced sell pressure and reinforces the narrative of accumulation beneath the surface. Related Reading: Bitcoin Holds 4% Above STH Cost Basis As Mature Bull Cycle Demands Discounts Fresh data from Arkham adds weight to this view. According to their latest report, three newly identified whale wallets collectively purchased over $200 million worth of ETH yesterday. Such large-scale inflows highlight that major investors remain active even in choppy conditions, positioning themselves ahead of what many see as the next decisive move for the market. While short-term traders grapple with swings, the underlying flows point to a growing disconnect between surface volatility and deeper structural demand. Institutions and whales continue to treat Ethereum as a core asset, betting that its utility and adoption will outlast momentary market uncertainty. As consolidation plays out, these strategic buys could prove pivotal in shaping Ethereum’s next breakout. Ethereum Accumulation Signals Institutional Strength Ethereum continues to attract significant institutional attention, even as short-term price action reflects broader market uncertainty. According to Arkham, three newly created whale addresses collectively purchased $205.48 million worth of ETH from FalconX, a move that underscores the growing role of large players in shaping Ethereum’s trajectory. Such substantial acquisitions highlight that institutional money is steadily flowing into ETH, viewing it as a core asset in the evolving digital economy. Recent price action, marked by volatility and sideways consolidation, is less about Ethereum’s fundamentals and more about the uncertainty clouding the macroeconomic environment. While traders focus on the noise of short-term swings, whales and institutions are making long-term bets on adoption and shrinking supply. Exchange balances for ETH continue to trend downward, reinforcing the idea that large investors are moving assets into cold storage with little intent to sell in the near future. Looking ahead, the market’s attention turns to next week’s US Federal Reserve meeting, where a widely expected rate cut could act as a major catalyst for risk assets. Analysts believe the decision will mark the beginning of a new phase for the market, potentially unlocking further liquidity inflows. If confirmed, Ethereum’s combination of strong fundamentals and accelerating institutional accumulation could set the stage for a renewed leg higher, solidifying its leadership in the altcoin sector. Related Reading: Dormant Bitcoin Waking Up: Over 600K BTC Moved Onchain In Weeks Price Action Details: Consolidation Ahead? Ethereum is trading at $4,515, marking a strong rebound and continuation of its broader bullish structure. The weekly chart highlights how ETH surged from lows near $1,600 earlier this year to test the $4,800 level, underscoring the intensity of the rally. This move also shows Ethereum outperforming most altcoins as institutional demand and shrinking exchange supply continue to support momentum. The 50-week SMA at $2,935 and the 100-week SMA at $2,876 are both turning upward, while the 200-week SMA at $2,444 remains a strong long-term support base. With price comfortably above all major moving averages, Ethereum is technically positioned in a solid uptrend. The breakout from the $3,200 resistance zone in July paved the way for the sharp leg higher, confirming strong accumulation beneath. Related Reading: Bitcoin Futures Pressure Score Hits 18%: Shorts Are Losing Momentum For bulls, the next key challenge is reclaiming and holding above $4,800. A decisive breakout beyond this resistance could set the stage for ETH to target $5,200–$5,500 in the coming weeks. On the downside, immediate support lies around $4,300, with deeper backing near $3,800 if volatility picks up. Featured image from Dall-E, chart from TradingView
Decentralized derivatives exchange Hyperliquid has consistently outperformed traditional finance giants in terms of volume and net income. DefiLlama data estimates Hyperliquid’s annualized net income at $1.24 billion as of Sept. 12, exceeding Nasdaq’s $1.12 billion net income for the entirety of 2024 by 11%. The comparison positions the DeFi platform ahead of one of the […]
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Tokenized private credit and other tokenized alternative funds continue to grow as the legacy financial system migrates onchain.
Bitcoin (BTC) and cryptocurrency exchange Gemini (GEMI), founded by twins Tyler and Cameron Winklevoss, experienced a major debut on the Nasdaq, soaring nearly 40% following the company’s initial public offering (IPO), which raised $425 million. Gemini Success On Nasdaq Debut Based in New York, Gemini priced its IPO late Thursday above the anticipated range of $24 to $26, reflecting strong investor interest. This valuation positioned the company at approximately $3.3 billion before trading commenced. Related Reading: Ethereum (ETH) On The Brink Of A Major Supply Crisis: What It Means For Investors Despite the successful debut, Gemini has faced financial challenges. According to its registration with the Securities and Exchange Commission (SEC), the company reported a net loss of $159 million in 2024 and a loss of $283 million in the first half of this year. The Winklevoss brothers, who are recognized as early Bitcoin investors and the first Bitcoin billionaires, have consistently advocated for Bitcoin as a superior store of value compared to gold. In a recent interview on CNBC’s Squawk Box, they expressed their belief that the price of the market’s leading cryptocurrency could reach $1 million within the next decade, saying it could easily increase tenfold from its current price. GEMI Stock Peaks At $40 The Winklevoss twins’ exchange debut on the Nasdaq follows those of Circle (CRCL), the issuer of the second-largest stablecoin by trading volume (USDC), and Bullish (BLSH), the Peter Thiel–backed exchange, which were among the first crypto firms to go public this year. Related Reading: XRP Price Gets Tighter: Here’s The Level Keeping It From Price Discovery According to Arkham data issued after the initial public offering debut today, the brothers’ long-dated commitment to Bitcoin and broader crypto market has led them to amass over $2 billion in crypto assets, mostly consisting of BTC. The newly traded GEMI stock opened at $37.01 on Friday, significantly exceeding the IPO pricing of $28, and at one point reached a high of $45.74 during trading. Since, the stock has retraced toward its current valuation of $34. Featured image from DALL-E, chart from TradingView.com
Tether has unveiled USAT, a new stablecoin product for the US market, according to a Sept. 12 statement. Alongside the announcement, the company confirmed that Bo Hines will become the CEO-designate for the USAT stablecoin. Hines described his appointment as an opportunity to reinforce America’s influence in global finance by launching a stablecoin rooted in […]
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Polymarket prepares US return with CFTC relief, new funding and a valuation that could soar to $10B as prediction markets gain momentum.
The successful IPO debut echoes similar success had by crypto firms Circle and Figure. Grayscale and Kraken also plan to go public.
Solid inflows into spot Bitcoin ETFs signal sustained demand from the bulls, increasing the likelihood of a break above the $117,500 resistance. Will altcoins follow?
EgoPlay closed beta launch for gamified smart glasses tasks lets users earn Vader Points by completing daily activities with wearable tech.
The post Vader launches EgoPlay closed beta for gamified smart glasses tasks appeared first on Crypto Briefing.
Since announcing its pivot to become a TON treasury company, its share price has fallen over 21% as enthusiasm for crypto treasury companies wanes.
Gemini’s $425 million Nasdaq debut marks the latest in a wave of blockbuster crypto IPOs, as investor demand surges for digital asset equities.
XRP is set to welcome its first-ever spot exchange-traded fund (ETF) in the United States. The product, managed by Rex Shares and Osprey Funds, is called the Rex-Osprey Spot XRP ETF. According to experts, trading will officially begin on September 18, 2025, after a short delay from the original September 12 launch date. The U.S. …
XRP is now back trading above $3 and is holding well above the price level. This is on the back of days of consolidating around $2.8. Although price action in the past 24 hours has seen XRP trading back above $3, it is yet to confirm a close to solidify the zone. Against this backdrop, technical analysis of the XRP 4-hour candlestick timeframe chart shows a critical level that could determine whether XRP finally breaks free into price discovery. Resistance Keeping XRP From Price Discovery Although the XRP price is currently inching slowly upwards, technical analysis shows it is yet to break above a technical resistance keeping it from price recovery. According to a technical analysis of the XRP 4-hour candlestick timeframe chart that was posted on the social media platform X by CoinsKid, XRP’s movement in August was capped by a resistance line at $3.3774. This resistance is represented with the white trendline in the price chart below. Related Reading: XRP Price Confirms Descending Trendline Breakout, Here Are The Targets The importance of this line goes beyond short-term price action. As it stands, this resistance barrier has effectively become the gatekeeper between XRP’s current price action and the possibility of a major breakout for price discovery into new all-time highs. According to the analyst, clearing this line would mark the point at which XRP could enter price discovery, a stage where there are no previous highs to serve as reference points. Until that happens, XRP is expected to continue oscillating within its established range, with $2.7346 acting as the lower white support line on the chart. Possible Shakeout Before The Break Although XRP has managed to hold above notable price points around $2.8 during its most recent corrections, there’s always the possibility of a strong downside move. CoinsKid also noted that a final shakeout could take place before any bullish breakout occurs. Related Reading: Is The US Planning To Use XRP To Clear Trillion-Dollar Debt? New Developments Shock Community This shakeout could see the sellers gain temporary momentum and cause the XRP price to break below $2.8 and crash to lower price levels. In this case, the analyst pointed to the orange support trendline at $2.3375 as a possible level that XRP might retest in such a shakeout. CoinsKid linked this possibility to September, earning the reputation of being rektember during bull cycles. However, this September might be different, considering the current dynamics of the crypto market. At the time of writing, XRP is trading at $3.06, up by 1.8% in the past 24 hours. The analyst noted that XRP’s macro structure will be bullish as long as it holds above the green line at $1.9061. This long-term support has so far underpinned the rally that began in late June. XRP is already up by about 10% from its September open, but it could possibly perform better in the later part of the month. The probability of a Fed rate cut in September is now above 97%, and this could play into a bullish run for XRP and many other large market-cap cryptocurrencies. Featured image from Adobe Stock, chart from Tradingview.com
MYX Finance’s native token was the week’s largest gainer, with an over 1,100% gain. Worldcoin followed with over 90% gains.
Farcaster launches trading and price alerts on Base and Solana, enabling real-time notifications and monitoring for crypto trading activity.
The post Farcaster launches token and trade alerts on Base and Solana appeared first on Crypto Briefing.
The Winklevoss-led crypto exchange had sold 15.2 million shares, raising $425 million.
Polymarket seeks a funding round to triple its valuation to $3B, driven by rising trading volumes and interest in prediction markets.
The post Polymarket funding round aims to triple valuation to $3B appeared first on Crypto Briefing.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
XRP is trading at $3.03 at the time of writing, holding steady after a week where it gained 8.12%. Its market cap stands at $181.16 billion, with daily trading volume reaching $5.29 billion, up nearly 10%. The question now is whether the token can keep support above the $3 mark in the days ahead. Fed …
SOL gained 6% to trade near $240 as the Galaxy Digital CEO explained why he is bullish on Solana and a top analyst projected a technical breakout pointing toward $1,314.
Increased stablecoin liquidity signals enhanced market efficiency and could drive further adoption and innovation in the crypto ecosystem.
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