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Crypto

Crypto exchange closures may signal market bottom, Tom Lee says

A series of cryptocurrency exchange shutdowns could be a sign the market is near a bottom, Fundstrat co-founder Tom Lee said. His comments followed BitMart’s decision to end its trading platform and BitMEX’s plan to halt operations this year. Lee maintained a long-term optimistic view on ethereum, comparing its evolution potential to growth inflection points seen at Amazon, Nvidia and JPMorgan, and reiterated a $250,000 long-term target.

Crypto

Russian state bank Sberbank steps up crypto trading infrastructure, aims for Dec. 1

Russia\'s largest bank Sberbank plans to build cryptocurrency trading infrastructure by Dec. 1, including a digital depository for recording ownership and processing most transactions off the main blockchain. It also plans to operate active wallets for deposits, withdrawals and transfers. The move comes as Russia advances a comprehensive legal framework for crypto markets, setting supervision by the central bank, eligibility thresholds and regulated participant categories. The EU and Britain have tightened sanctions, including on exchange HTX.

Crypto

XRP spot buying rises as Binance perpetual futures turn more bearish

Buying in XRP’s spot market has climbed to its strongest level since June, while bearish positioning has grown in Binance’s perpetual futures market. Centralised exchange spot cumulative volume delta reached about $388.6 million on July 23, the highest since June 1. In contrast, Binance perpetual futures CVD fell to about -$547.4 million. Binance XRP open interest rose about 9 percent from July 8 to July 23, suggesting new leveraged flows.