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Crypto

Ethereum tests $1,950 for first time in seven weeks; what could drive a rebound to $2,100?

Ethereum tested the $1,950 level for the first time in seven weeks, extending a short-term rebound. The move triggered $62 million in liquidations of leveraged short positions, Cointelegraph reported. Ethereum rose 29 percent from its June 26 low of $1,500 as risk appetite improved across crypto markets. Still, on-chain demand, network revenue and volumes remain weak, while funding rates have not held neutral levels consistently.

Crypto

StablecoinX makes Nasdaq debut, bets on Ethena ecosystem

Stablecoin infrastructure firm StablecoinX will begin trading on Nasdaq on June 26 local time after completing a merger with TLGY Acquisition. The company focuses on supporting the Ethena ecosystem through decentralised validator nodes and software infrastructure, calling itself the first listed stablecoin infrastructure firm focused on Ethena. Ethena’s USDe holds about 1.4 percent of the stablecoin market. StablecoinX holds about 3 billion ENA tokens valued at about $275 million.

Crypto

WLD, HYPE, JTO rally but altcoin season signal still far off

Some altcoins such as Worldcoin (WLD), Hyperliquid (HYPE) and Jito (JTO) have posted sharp gains, but analysts say it is still difficult to call it an “altcoin season.” Altcoins’ market share excluding bitcoin, ether and stablecoins edged down over the past month, while stablecoin dominance rose. Spot data show 15 straight months of net selling. Recent rallies were driven by token-specific catalysts rather than broad inflows into altcoins.