The post Ethereum Rejected at 50-Day SMA as Whales Turn Bearish appeared first on Coindoo.

Key Takeaways

The Rejection Level

ETH trades near $1,770 after being turned away at its 50-day SMA around $1,795 on the TradingView chart, the level sellers have defended since the recovery began. The bounce from the late-June low near $1,510 carried price through the descending trendline and up to the moving average, but the test failed, with the daily candle down 1.7% until the time of writing.

The levels ahead are clearly marked. First support is the 0.236 Fibonacci retracement at $1,737, and below it, the $1,700 zone. A failure there reopens the $1,561 area that formed the base of the recovery. To the upside, bulls need a daily close back above the 50-day SMA to shift momentum, with the next barrier at the 0.382 Fib near $1,878. The daily RSI at 54.97 sits just above neutral, enough to fuel the bounce but not to confirm a trend change.

What the Positioning Data Reveals

The derivatives picture explains the rejection. Across Binance, OKX, and Bybit, retail traders are positioned bullish, with long/short ratios ranging from 1.68 to 2.35 per Coinglass data. But the smart money and whale cohorts tell a different story: smart money sentiment reads extremely bearish on both Binance and Bybit, while whale positioning on OKX also flashes extremely bearish at a 0.64 ratio.

That split, retail long while sophisticated traders lean short, is a classic caution signal. It does not guarantee a drop, but it means the crowd driving the bounce is the same cohort that tends to be positioned wrong at local tops, and the larger players are fading them exactly at the 50-day SMA rejection.

The Offsetting Signal

Spot demand cuts the other way. Ethereum ETFs recorded $20.66 million in net inflows on July 6, extending the turn that began on July 1 after eight consecutive weeks of outflows. The tension is clear: institutional spot buyers are accumulating through ETFs while leveraged whales position for downside, leaving price caught between the two forces at a well-defined technical level.

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So for now the chart shows rejection, the derivatives data shows large traders leaning bearish, and the ETF flows show spot demand persisting. That disagreement is why the $1,737 support and the 50-day SMA overhead matter so much: a break of the Fib level could validate the whale positioning, while a reclaim of the moving average might side with the ETF buyers. Until one gives way, ETH remains a bounce inside an unbroken downtrend, with the burden of proof still on the bulls.

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Source: https://coindoo.com/ethereum-rejected-whales-turn-bearish/

The post Zcash Hits 80% Supply Milestone: What’s Next for ZEC? appeared first on Coindoo.

Key Takeaways

The Supply Milestone

Zcash’s circulating supply has reached 16.76 million ZEC against a hard cap of 21 million, meaning 80% of the maximum emission is now mined, per CoinMarketCap data. The remaining fifth will be released far more slowly than the first four: like Bitcoin, whose supply schedule Zcash deliberately mirrors, block rewards halve roughly every four years, stretching the final coins across decades.

The halving mechanics define that slowdown. Zcash’s most recent halving in November 2024 cut block rewards from 3.125 ZEC to 1.5625 ZEC, roughly halving new issuance and bringing annual inflation down to an estimated 2-4%. The next halving is projected for late 2028, when rewards drop again to 0.78125 ZEC per block. Each cycle mechanically reduces the daily sell pressure miners can place on the market, which is why supply milestones like this one matter beyond symbolism: the marginal new coin is becoming structurally scarcer at the same time shielded pools absorb existing float, with over 30% of circulating supply now held in encrypted pools at an all-time high.

Price Boxed Between Two Confluences

ZEC trades at $465 at the time of writing, up 2.87% on the day, and the daily chart explains why the current range is so well-defined in both directions.

Below price, the support is a genuine double layer. The rising 100-day SMA at $439 sits almost exactly on the 0.5 Fibonacci retracement at $438, measured from the June swing high at $689.67 down to the $183 base of the move. When a major moving average and a key retracement level occupy the same price to within half a dollar, the level tends to act as a magnet for buyers, and the chart confirms it: the late-June and early-July dips both reversed in that zone. A third layer sits further down, where the 200-day SMA at $379.40 aligns with the 0.618 retracement at $377, giving ZEC an unusually deep stack of defended levels.

Above price, the resistance mirrors the structure. The falling 50-day SMA at $487.22 sits just under the 0.382 retracement at $496.41, forming a $487–$496 band that capped the rebound attempts through late June. Until ZEC closes a daily candle above that zone, the trend structure remains a consolidation inside a larger correction from the $689 high. A break above it opens the path toward the 0.236 level at $570; a loss of the $439 confluence instead exposes the $377–$379 floor. The daily RSI at 53.70 is mildly positive, momentum enough to test the ceiling, not yet enough to assume it breaks.

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Zcash Hits 80% Supply Milestone: What’s Next for ZEC?

Why the Supply Count Is in Question

To understand why an 80%-mined milestone comes with an asterisk, you have to understand what broke in June. Zcash’s privacy works by moving coins into a shielded pool called Orchard, where transactions are hidden using zero-knowledge cryptography. In early June, developers disclosed a four-year-old flaw in that cryptography that, in theory, could have let someone create ZEC out of nothing inside the shielded pool without anyone being able to see it. Because shielded balances are private by design, the flaw struck at the one thing a fixed-supply asset cannot afford to lose: the ability to prove that 21 million is really the ceiling.

The bug was patched within days and no exploitation was ever confirmed, so no counterfeit coins are known to exist. But “known” is the problem, privacy that hides theft also hides proof that no theft occurred. That uncertainty is why BitMEX co-founder Arthur Hayes, whose fund had made ZEC its largest holding after Bitcoin, liquidated the entire position in early June, saying he could no longer be certain the supply was uncompromised, while noting he may buy back if that fear proves unfounded.

The upcoming Ironwood upgrade, targeted for July, is the direct fix. It retires the affected Orchard pool and moves funds into a new, corrected shielded pool, while blocking transfers back into the old one. The practical effect is that any potentially counterfeit coins would be stranded and unable to circulate, restoring a verifiable, bounded supply. In short: the milestone says 80% is mined, and Ironwood is what makes that number trustworthy again.

What It Means If You Hold ZEC

For a holder, the takeaways are practical rather than predictive: the near-term outlook depends less on tick-by-tick price action and more on the upcoming Ironwood activation despite ongoing ecosystem readiness discussions. A smooth rollout would go a long way toward resolving the supply-integrity concerns that drove high-profile investors like Arthur Hayes to exit. Until then, the market remains pinned between two critical levels: the $439 support zone (where the 100-day SMA aligns with the 0.5 Fib) and the $487–$496 resistance band.

Watching those two levels and the upgrade might be more useful than watching the price tick by tick. None of this is a recommendation to buy or sell, it is the framework for understanding which signals actually matter versus daily noise.

Ultimately, Zcash sits at a rare intersection of mechanical scarcity and narrative uncertainty. While the supply tightens with every block, the asset’s next leg hinges on whether Ironwood can effectively restore the institutional trust that was lost in June. Traders might want to watch those two confluences closely, they are the first place the market’s verdict could print.

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Source: https://coindoo.com/zcash-supply-milestone-next-zec/

The post Stablecoin Supply Tightens as Tether Burns $2.5B USDT appeared first on Coindoo.

Key Takeaways

The Signal Is Bigger Than One Burn

A large Tether burn can reflect redemptions, treasury management, or cross-chain rebalancing. On its own, it is not enough to call the move bearish. The important part is the timing: the burn came while aggregate stablecoin supply was falling and Binance’s Tron-based USDT liquidity was also shrinking.

That combination makes the latest adjustment more relevant for market structure. Ethereum supply was reduced, Binance’s Tron reserve moved below a key threshold, and the broader stablecoin market cap continued to lose value. Together, they show a tighter liquidity backdrop rather than a single isolated treasury transaction.

What the Stablecoin Data Shows

According to CryptoQuant data, the July 7 burn was the largest Ethereum-based USDT burn since February 10, when Tether Treasury burned $3.5 billion USDT. It also exceeded the $2 billion burn recorded on May 8.

Total stablecoin market capitalization fell from roughly $318.21 billion to $311.12 billion, a drop of about $7.09 billion, or 2.23%, over 36 days. The RSI on the stablecoin market cap chart is near 32, showing weak momentum, although the reading is already close to oversold territory.

Binance’s USDT reserve on the Tron network dropped to approximately $806 million, its lowest level since December 2025. That takes the balance below the $1 billion mark and points to less USDT liquidity available through one of the market’s most used transfer channels.

Why Binance’s Tron Reserve Matters

Tron has historically been one of the main rails for USDT transfers because it is fast, cheap, and widely used by exchanges. A lower Binance reserve on Tron does not automatically mean users are leaving the market, but it does suggest thinner liquidity for moving USDT in and out of one of the largest trading venues.

That matters because exchange-side stablecoin liquidity often acts as deployable capital. When stablecoin balances expand, traders have more cash-like liquidity available to rotate into Bitcoin, Ethereum, or altcoins. When those balances contract, the market has less immediate dry powder.

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Zcash Hits 80% Supply Milestone: What’s Next for ZEC?

The Market Read

The cleanest interpretation is liquidity compression, not direct selling pressure. The burn reduces Ethereum-based USDT supply, the Tron reserve decline points to thinner exchange transfer liquidity, and the drop in total stablecoin market cap confirms that the pressure is broader than one network.

That does not make the signal automatically bearish. Tether can mint and burn supply across chains for operational reasons, especially when liquidity shifts between Ethereum, Tron, and other networks. A single Ethereum burn does not prove that $2.5 billion has permanently exited crypto markets.

The more reliable signal is the combination. Falling aggregate stablecoin capitalization, Binance’s Tron reserve moving below $1 billion, and one of the largest Ethereum USDT burns in months all point to weaker liquidity conditions unless new minting or exchange inflows reverse the trend.

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Source: https://coindoo.com/stablecoins-tighten-tether-burns-usdt/

The post Ethereum: Bulls Face Critical Point on the Daily Chart appeared first on Coindoo.

Key Takeaways

Why the $1,787 Rejection Carries Weight

Ethereum’s recovery from the $1,505 June low stalled at the exact price zone where three independent technical inputs converge. The 50-day SMA sits at $1,787, the horizontal supply shelf sourced from prior June consolidation aligns within the same handle, and the 0.236 Fibonacci retracement of the $2,465 to $1,505 decline plots at approximately $1,787. Confluence of this density typically produces the market’s first meaningful reaction on a counter-trend rally, and the current daily candle is testing whether that reaction holds.

The structural read remains bearish until reclaimed. Price has traded beneath the 50 SMA throughout the June sell-off, and the 100 and 200 SMAs sit $274 and $495 above spot respectively, an alignment that historically defines distribution rather than accumulation regimes. RSI at 52.91 sits in neutral territory, offering no directional edge and confirming that momentum has not yet resolved the range.

Technical Deep-Dive

• Moving average structure: ETH’s daily chart on Bitstamp shows the 50 SMA ($1,787) sloping downward and acting as dynamic resistance. The 100 SMA ($2,024) and 200 SMA ($2,245) preserve the bearish stack, meaning any reclaim of $1,787 opens a technical path only to the next SMA overhead, not an immediate trend reversal.
• Fibonacci reference: Measured from the $2,465 swing high to the $1,505 swing low, the 0.236 retracement plots near $1,787, the 0.382 near $1,872, and the 0.5 midpoint near $1,985. The 0.236 is statistically the shallowest retracement level and its rejection often signals that sellers retain control of the broader swing.
• Range floor: The $1,505 low aligns with the horizontal support that capped the June range base. A daily close beneath the $1,700 handle could place that level back in play as the next mechanical downside reference.

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What Traders Could Be Watching

• Bearish confirmation path: A daily close below the $1,787 confluence confirms the rejection. A subsequent break under the 0.236 Fibonacci near $1,787 followed by a retest of that level as resistance offers a structurally cleaner short entry than fading the wick in real time.
• Bullish invalidation path: A daily close above $1,787 that reclaims the 50 SMA shifts the short-term structure. Historically, entering on a retest of a reclaimed level as support has produced better risk-reward than chasing the breakout candle itself, because failed breakouts remain the dominant outcome when price trades beneath a downward-sloping 200 SMA.

Risks That Traders Should Price In

The setup carries three specific execution risks. First, confluence zones can absorb multiple tests before resolving, and a single rejection candle is not statistically sufficient evidence of a directional outcome. Second, the 0.236 Fibonacci is the weakest of the standard retracement levels and price often slices through it toward the 0.382 near $1,872 without producing a durable rejection. Third, macro catalysts and spot ETF flow data can override technical setups on any given session, particularly when RSI sits mid-range and neither side holds momentum.

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The post HYPE Price Pulls Back on US-Iran Bad News appeared first on Coindoo.

Key Takeaways

Speaking to reporters at the NATO summit in Ankara, Trump said he thinks the June 17 Islamabad Memorandum of Understanding with Iran is “over”, per Al Jazeera. The wording matters: Trump did not announce a formal withdrawal from the framework, he stated his personal read that it no longer holds. That distinction leaves the diplomatic status ambiguous, but the market treated the comment as a directional signal.

How HYPE Is Positioned on the Chart

HYPE’s daily structure remains constructive despite the pullback. Price sits above the 50 SMA at $64.42, above the rising trendline drawn from the May $38 low, and above the 100 and 200 SMAs. While trading at $67.8 at the time of writing, the price holds between $66 and $72 zone that has been tested multiple times since begging of July without breaking.

Momentum offers no directional read. Daily RSI at 53.28 sits mid-range, which means the pullback has not yet produced conviction on either side. That neutrality is what makes the trendline test the decisive technical event, not the RSI itself.

The Bearish Scenario: What Needs to Break

The bearish path activates on a specific sequence rather than the current pullback alone. The first condition is a daily close below the rising trendline that has defined HYPE’s structure since the May low. That break alone is not sufficient. The second condition is a daily close below the 50 SMA at $64.42, which currently sits directly beneath the trendline and reinforces it.

The confirmation step is the retest. If sellers break both levels and price returns to test the trendline or 50 SMA from below, and that zone rejects as resistance rather than reclaims as support, the setup opens toward a deeper and more prolonged decline. Historical failed-support-turned-resistance sequences on daily charts have produced moves toward the next horizontal reference, which for HYPE sits near the $58 region and, beneath that, the $52 shelf.

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Ethereum Rejected at 50-Day SMA as Whales Turn Bearish

What Can Invalidate the Bear Case

The bearish setup rests on a specific chain of events that has not yet triggered, and each link in that chain has a plausible break point.

Start with the catalyst itself. Trump did not sign a withdrawal, issue an executive order, or brief allies at Ankara on a formal exit. He told reporters what he thinks. That phrasing gives both sides a diplomatic off-ramp, and previous Trump comments on the Iran file have swung between “waste of time” and “great settlement” within the same news cycle. If the tone shifts before the daily close on July 9, the market loses its reason to hold the risk premium.

The chart itself is arguing against the bear case. HYPE’s May-to-July rally lifted price from $38 to a $76.50, and the current $67.89 print still sits above every major moving average, above the rising trendline, and above the horizontal shelf that capped resistance for most of June and now acts as support. Regimes that took two months to build rarely fail on a single 1.78% pullback candle, and the $66–$67 zone has already absorbed multiple tests without cracking.

The final layer is historical behavior. Iran headlines have hit crypto many times in 2026, and in every case the initial risk-off move compressed within 72 hours unless a second escalation event followed. The Ankara comment is loud, but it is a verbal escalation, not a kinetic one. The bear case needs Tehran to answer with a visible retaliation, or Washington to raise the operational stakes again. Absent either, the risk premium could bleed out of the tape rather than build.

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The post Solana Jumps 15% as Network Activity Nears 2026 Highs appeared first on Coindoo.

SOL trades at $80.98 at the time of writing after a 15% weekly gain according to CoinMarketCap data, the strongest in the top ten. The bounce started from the June low near $62 and has now done something the March and May rallies could not: it climbed back above the 50-day moving average at $75.31 and is sitting right at the 100-day at $80.54, the line that rejected the last two recovery attempts.

The simple way to read the chart: below $75, the recovery failed. Above $80.54 with a daily close, SOL escapes the zone that has capped it since April, and the next meaningful level is the 200-day average near $93. The momentum gauge (RSI) sits at 62.5, its highest reading of the year, which signals genuine buying pressure but also means the easy part of the bounce is likely behind. SOL remains far below its January level near $150, so this is a recovery inside a down year, not a new high.

The Network Is Busier Than the Price Suggests

Here is the part that separates Solana’s bounce from a generic altcoin pop. Data from Artemis shows the network processed 137.5 million transactions on July 4 after reaching 158 million on 29th of June, close to the year’s highs near 160 million set in February, and sharply up from the 90–100 million range where activity sat through the spring. Usage began climbing in June, before the price did.

That sequence matters. When transactions rise while price falls or stagnates, it means people are using the chain for reasons other than speculation, trading, payments, applications, and when price later catches up, the move rests on real activity rather than pure sentiment. It is the healthiest pattern an on-chain chart can show, though not a guarantee: transaction counts include plenty of low-value activity, so the signal is directional, not precise.

Alpenglow: The Upgrade Behind the Story

The third dataset explains why developers are paying attention. Test results from Alpenglow, the largest upgrade in Solana’s history, show the network confirming transactions for a majority of validators in roughly 110 milliseconds, with even the slowest full-network confirmation near 270 milliseconds. A detailed breakdown by Solana infrastructure firm Helius puts those numbers in context: about 65% of the network’s stake finalizes within 50 milliseconds of the raw network delay, meaning most validators vote almost the instant data arrives, and total finality runs at roughly twice the physical speed limit of the internet itself. In plain terms, the protocol overhead is nearly gone; what remains is mostly the time light takes to cross oceans.

The comparison numbers make the leap concrete. Solana’s current true finality takes about 12.8 seconds, and as TheStreet notes, a typical Visa authorization takes one to three seconds. Alpenglow targets 100 milliseconds when at least 80% of validators respond in the first voting round, and 150 milliseconds on its fallback path, faster than the quickest competing blockchain’s self-reported 400 milliseconds, per Helius.

The upgrade also changes the economics of running the network. Validators currently pay roughly 1 SOL per day in on-chain voting fees, their single largest operating cost. Alpenglow moves voting off-chain, and Helius estimates that eliminating those fees would cut the minimum stake needed for a validator to be profitable from around 4,850 SOL (roughly $800,000) to about 450 SOL (roughly $75,000), a change that could meaningfully broaden who can afford to help secure the network.

Co-founder Anatoly Yakovenko told Consensus Miami the upgrade could reach the main network as soon as this quarter, calling it a pivotal step toward making the chain reliable enough for time-sensitive financial applications. The upgrade replaces two of Solana’s founding technologies with a leaner voting system, and validators approved it with over 98% support.

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Not everyone is uncritical. Experts interviewed by The Defiant have questioned whether such speeds are achievable globally without trade-offs, noting that physics itself limits how fast data crosses oceans and that the data-relay design carries real-world unpredictability. The test histogram partially answers this, the speeds hold for most of the network, but the slowest tail is real, and mainnet conditions are harsher than test clusters.

Solana enters July with three things pointing the same direction: the strongest weekly price gain among majors, network usage near yearly highs that started rising before price did, and a dated catalyst in Alpenglow’s targeted Q3 mainnet launch. That alignment is rare in the current market and explains the outperformance.

For now SOL still trades roughly 45% below its January level, the 100-day average directly overhead has ended two rallies already this year, and upgrade timelines in crypto slip more often than they hold. The next daily close above $80.54, or the failure to get one, could show whether this week was the start of something or the third rejection at the same wall.

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Source: https://coindoo.com/solana-jumps-15-as-network-activity-nears-2026-highs/

The post XRP Faces Its First Big Test With Exchange Supply Drying Up appeared first on Coindoo.

Key Takeaways

XRP trades at $1.136 on Bitstamp, easing 1.7% after a recovery leg that carried it from the late-June base near $1.008 to an intraday high of $1.18. The structure of the bounce is clean: a defended floor, five green sessions out of seven, and the daily RSI crossing above 50 for the first time since mid-June.

The problem is directly overhead. The 50-day moving average sits at $1.19, almost exactly where Friday’s rally topped, and it rejected the recovery on first contact. Above it, the 100-day at $1.29 aligns with the June 15 swing high near $1.29, stacking two barriers in the same zone, and the 200-day at $1.47 defines the broader downtrend that has held since summer 2025. Below, $1.10 is the first support, then the $1.008 base whose failure would reopen the $1.00 psychological floor that has held every test since November 2024.

What the On-Chain Data Says About Who Is Buying

This is where the exchange data turns the chart read into a story. A CryptoQuant analysis published by CryptoOnchain examined the July 2 session, the day the current rally leg accelerated, and found a highly unusual pattern on Binance: inflows of 7.38 million XRP nearly perfectly mirrored by outflows of 7.27 million, while open interest recovered from a local low of 405 million to 419 million as price pushed toward $1.13.

The analyst’s interpretation matters for what happens at the 50-day test. Symmetrical flows of that size rarely come from retail trading; they point to institutional-sized settlements or market-maker rebalancing. More importantly, estimated leverage stayed at 0.158, below its six-month average of 0.168, meaning the bounce was built on spot buying rather than borrowed money. Spot-driven moves lack the explosive fuel of a short squeeze, but they also lack the fragility: there is no crowded leverage to liquidate if the 50-day rejects price again.

The Supply Side: XRP Is Getting Scarcer on Exchanges

A second CryptoQuant report, shared by analyst Arab Chain, adds the supply half of the equation. The Binance XRP Scarcity Index has climbed to roughly 0.77, its highest reading since mid-2024, meaning the amount of XRP available to sell on the largest trading venue has contracted to a two-year low relative to demand. Notably, the index began rising weeks before price did, which the analyst reads as declining tradable supply, through withdrawals and off-exchange holding, rather than a mechanical echo of the rally.

The two datasets interlock: spot buyers absorbed coins on July 2 while the sell-side shelf was already thinning. That combination, real demand meeting shrinking supply, is the setup that historically precedes what CryptoOnchain calls localized, spot-driven recoveries. It also matches the institutional picture: XRP spot ETFs have recorded eight consecutive weeks of net inflows, per BeInCrypto, with the streak persisting even through the June selloff and the same weeks in which Bitcoin funds bled assets, a signal institutions treat XRP’s regulatory clarity as a story separate from the broader market.

The Missing Ingredient

Both CryptoQuant analyses flag the same weak point: the XRP Ledger itself is quiet. Daily transaction counts hover near 1.3 million, roughly 29% below the three-month baseline. Heavy liquidity routing on exchanges against a subdued underlying network means the recovery currently rests on positioning, not on expanding utility. In CryptoOnchain’s framing, network volume beginning to expand is what would validate the exchange-level momentum and establish a firmer structural floor.

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The institutional view mirrors that caution at a larger scale. Analysts at Standard Chartered cut their year-end XRP target from $8 to $2.80 after the February breakdown, while keeping their long-term constructive stance, noting near-term price action will track broad crypto conditions more than XRP-specific factors.

The layers stack into a clear framework. Supply on exchanges is the thinnest in two years, spot buyers rather than leverage drove the bounce, and institutions have accumulated through eight straight red-to-flat weeks. What the data cannot yet show is demand strong enough to clear the $1.19–$1.29 barrier zone, and a network busy enough to justify it. A daily close above the 50-day with ledger activity recovering toward its baseline could convert this from a positioning bounce into a trend candidate. A rejection here, with transactions still 29% below normal, keeps XRP in the same pattern that has capped it all year: real accumulation underneath, no confirmation above.

The post XRP Faces Its First Big Test With Exchange Supply Drying Up appeared first on Coindoo.

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Source: https://coindoo.com/xrp-faces-its-first-big-test-with-exchange-supply-drying-up/

The post Ethereum Price: Analyzing the Latest Signals appeared first on Coindoo.

Key Takeaways

Where Ethereum Actually Stands

ETH trades near $1,770, still roughly 60% below its August 2025 all-time high near $4,900 and 47% below its January 2026 peak. The daily 50-SMA at $2,040 is the first structural level overhead, and everything above it, the 100-SMA near $2,420 and the 200-SMA near $3,080, describes a market that has spent the year distributing rather than accumulating. It’s worth noting also that pullback might be coming. For now waiting for a clean breakout and successful retest for confirmation that the uptrend continues could be a smart move.

The Silver Comparison Is Worth Taking Seriously

The bigger frame is the one that matters. Ethereum has now spent nearly five years unable to reclaim its previous cycle high despite many of the biggest cryptos doing it, an unusually long consolidation for a top-two crypto asset.

Silver also spent decades trapped below its 1980 and 2011 peaks near $48. The metal recently broke that ceiling and, in a single-month move, more than doubled toward $121.

The pattern is straightforward: assets that spend years compressed below a former high often store the volatility they didn’t spend, and sometimes release it once the level breaks. It is not a prediction that ETH will follow silver’s trajectory. It is a reminder that multi-year ceilings, when they break, could break violently.

Three Signals Turning at Once

The reason this setup is worth flagging now, rather than a month ago, is that three independent datasets have started moving in the same direction after months of drift.

• First, ETF flows: Ethereum spot ETFs recorded eight consecutive weeks of net outflows through late June, per SoSoValue data, but reversed on July 1 and July 2 with $14.89 million and $29.08 million of inflows. Two green sessions do not undo two months of redemptions, but they are the first sign institutional selling has paused.
• Second, on-chain demand: Token Terminal revealed on X that ETH bridged from mainnet to Robinhood Chain surged roughly 10x in the final days of June, from near-zero to nearly $10 million in daily bridge deposits. Robinhood’s Ethereum-based Layer-2 is being used by the retail broker’s own customers, meaning the flow represents new users buying ETH to hold or transact on it, exactly the category that has been missing lately.

• Third, price structure: ETH has reclaimed the descending trendline that capped every rally since February and is now testing the daily 50-SMA at $2,040. A weekly close above that level could be the first trend break of the year.

Nothing here confirms a reversal. ETH remains in a downtrend, ETF flows have been red for two months, and the silver comparison rests on pattern, not causation. What has changed is that the setup now has real components: a five-year compression, a fresh demand vector (Robinhood Chain), and the first ETF green print since May. If the daily 50-SMA gives way and the bridge activity persists, the setup could stop being only theoretical. Until then, ETH sits exactly where the last rally attempts died.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. Always conduct your own research before making investment decisions.

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The post Trump Calls Himself “Pro-Crypto” as Buyers of His Token Lose Big appeared first on Coindoo.

Speaking after ringing the opening bell at the New York Stock Exchange and Nasdaq, Trump described himself as “pro-crypto” and argued the country must lead the industry rather than let rivals take it. His comments doubled down on a pro-crypto stance that has defined his second term, even as blockchain data shows his own branded tokens have left most of their buyers deep in the red.

TRUMP: “I’M VERY MUCH PRO-CRYPTO”

President Trump says crypto is a “massive industry” with a “tremendous audience.”

He said the industry survived an “onslaught” and claimed the U.S. is now leading China and the rest of the world in crypto. pic.twitter.com/f3RGBqZG5a

— Coin Bureau (@coinbureau) July 6, 2026

“If We Didn’t Do It, China Would Do It”

Trump’s central argument was competitive: that crypto is too big and too strategic for the US to ignore. “If we didn’t do it, China would do it. It’s a massive industry,” he said, casting American leadership in digital assets as a way to stay ahead of a geopolitical rival rather than a matter of ideology. He added that crypto has “a tremendous audience” and should be embraced as a strategic sector, tying his support to economic scale and reach rather than to the technology itself.

It’s a framing he has leaned on before, positioning crypto alongside other industries where he argues the US cannot afford to fall behind. Whatever one makes of the claim, it reflects a view of digital assets as a national-competitiveness issue, not a niche financial product.

A “Weaponization of Government”

Trump reserved his sharpest language for the previous administration’s approach. He claimed the Biden administration tried to dismantle the industry through aggressive enforcement, describing the effort in stark terms. “What they were doing to crypto was horrible. It’s amazing it survived that onslaught,” he said, calling it “a weaponization of government.”

He alleged that crypto entrepreneurs were targeted with investigations and legal action, and that regulators were “trying to destroy the industry.” According to Trump, the previous administration later reversed course after recognizing crypto’s growing political influence, dropping investigations and adopting a friendlier posture because, in his words, “crypto has a tremendous audience.” These are Trump’s characterizations of his predecessor’s record; the prior administration and its regulators defended their enforcement actions at the time as investor-protection measures rather than an attempt to destroy the sector.

Praise for the Current SEC

Trump contrasted that account with his own administration’s approach, singling out the current head of the Securities and Exchange Commission for praise. He called SEC Chairman Paul Atkins “the best man for the job,” while criticizing the previous SEC leadership for how it handled the industry, a clear reference to the more enforcement-heavy stance under former chair Gary Gensler.

He closed by insisting his support for crypto is driven by what he sees as its importance to the US economy and global competitiveness rather than personal interests, an assertion that sits against a backdrop of his family’s extensive and lucrative crypto ventures.

Bitcoin Could Be Added to Trump Accounts

Trump also hinted that Bitcoin could eventually become an investment option within the newly launched Trump Accounts, the tax-advantaged savings program created for children. Asked by reporters during an Oval Office event whether the accounts could hold Bitcoin, he replied that it was possible and suggested that “something could happen.”

The comment stopped well short of a policy announcement and no such option currently exists. Still, it reinforces Trump’s broader effort to position Bitcoin and the wider crypto industry as part of the country’s long-term economic future rather than a niche financial market.

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The Data Tells a Harder Story

That backdrop is where the speech meets a more complicated reality. While Trump frames his crypto advocacy as being about the national interest, blockchain data shows his own branded tokens have been costly for the people who bought them. According to analytics firm Nansen, in data shared with CoinDesk, holders of the TRUMP memecoin are down a combined $3.81 billion.

The losses fall on 988,905 of the roughly 1.48 million wallets that have bought the token since its January 2025 launch, about two-thirds of all buyers. The gains that do exist are heavily concentrated: 492,285 wallets are in profit to the tune of $4.04 billion, overwhelmingly early buyers who got in during the first hours of trading, when the token changed hands under $1 before spiking toward a near-$75 peak. Across all wallets, gains and losses net out to roughly $236 million, while the token now trades around 96-97% below that high. The related WLFI token, tied to the Trump-family-backed World Liberty Financial, tells a similar story, with the large majority of tracked secondary-market wallets underwater.

The chart underlines how one-directional the decline has been. TRUMP trades near $1.68 as of July 6, 2026, down roughly 80% from $8.63 exactly a year ago.

Price has sat below its 50-, 100-, and 200-day moving averages for the entire twelve-month window, with each rally rejected at progressively lower levels. It’s a pattern characteristic of memecoins that generate concentrated early revenue for the issuer while later holders absorb the drawdown, which is exactly why the ethics debate around presidential token issuance has centered on the mechanism, royalties extracted at issuance, rather than on the token’s price.

Advocacy and Interest, Side by Side

Trump’s speech makes a coherent national-competitiveness case for US crypto leadership, that the industry is massive, strategically important, and better led by America than ceded to China, and that argument stands on its own terms regardless of who makes it. At the same time, the president is not a neutral advocate: his family’s ventures have generated substantial income from the same sector he champions, and the retail buyers who followed his branding into his tokens have, on the whole, lost heavily while early insiders profited.

Both things are true at once. The policy argument for embracing crypto as a strategic industry is one many in the sector share, and the shift away from enforcement-first regulation has been broadly welcomed across the market. But the specific tokens carrying Trump’s name have been a poor deal for most who bought them, which is the necessary context for a speech in which the president insists his advocacy has nothing to do with personal interest.

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Key Takeaways

Where the Sector Stands

The total meme coin market capitalization sits at $25.96 billion, according to CoinMarketCap, a fraction of the roughly $137 billion peak reached in early 2025 during the memecoin mania that followed the U.S. election cycle. The drawdown of roughly 80% is deeper than Bitcoin’s decline from its own high, a reminder that the sector amplifies whatever the broader market does, in both directions.

The past week showed the amplification working upward. Among the ten largest meme tokens by market cap, MemeCore led with an 86% gain to a $1.96 billion market cap at the time of writing, followed by SPX6900 at 29% and BONK at 15.5%. Pepe added 11.8%, Pudgy Penguins 7.7%, and FLOKI 7.49%. The two largest names moved least: Dogecoin, still the sector anchor at $13.22 billion, gained 2.3%, while Shiba Inu rose 3.24% to $2.6 billion. That distribution, small caps sprinting while majors crawl, is the classic signature of speculative capital returning down the risk curve after a period of caution.

Why Meme Coins Persist

The durability argument rests on the fact that meme coins compete on a different axis than utility projects. They do not need superior technology or real-world use cases; they need attention, community, and liquidity. Strong online communities sustain engagement between cycles, low nominal prices attract retail investors seeking asymmetric bets, and the sector’s extreme volatility is itself a product that professional trading firms actively consume.

Meme coins also serve a rotational function within crypto. When risk appetite rises, capital typically flows from Bitcoin and Ethereum toward more speculative assets, and meme coins are among the first beneficiaries, as this week’s small-cap-led rally illustrates. They generate trading activity, onboard new users to networks such as Solana, and act as a real-time sentiment gauge for retail participation.

A newer development strengthens the persistence case: the crossover into traditional finance. BONK core contributor Nom noted at Consensus Miami that Nasdaq-listed Bonk Holdings holds roughly 2.7% of BONK’s circulating supply and is targeting $115 million in token holdings by year-end, one of a handful of meme projects with exchange listings, ETF filings, or public-company structures behind them. Tokens with those anchors have institutional distribution channels that pure hype cycles never had.

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Why the Skepticism Is Also Justified

The same Consensus panel produced the sector’s sharpest self-criticism. Nom warned that new meme coin trades increasingly resemble long-shot sports parlays, and that most teams lack the staying power to reach regulated channels, distinguishing durable tokens from those that “rinse retail.”

The structural problems are real. Thousands of new tokens launch regularly, diluting liquidity and attention across an ever-expanding field where the overwhelming majority go to zero. Prices remain tied to sentiment rather than fundamentals, which makes the sector the most volatile corner of an already volatile asset class: the same tokens posting double-digit weekly gains now routinely lose 70% or more when risk appetite fades, as MemeCore itself demonstrated with a 75% crash earlier this year before the current rebound. Regulation adds a further layer: SEC Commissioner Hester Peirce has stated that memecoins fall outside investor protection frameworks, meaning holders have effectively no recourse when projects fail or founders exit.

The honest answer to whether meme coins have a future is that they already survived the test that was supposed to kill them. An 80% sector drawdown eliminated most projects but not the category, and capital returned to the survivors within the first week of improved sentiment. That behavior looks less like a passing fad and more like a permanent, cyclical asset class driven by market psychology rather than utility, closer to lottery-style retail speculation than to venture-style technology investment.

What that means in practice: meme coins can deliver gains during risk-on windows, and the past week’s numbers show it, but they remain arguably the most volatile segment of the crypto market, dependent on sentiment that can reverse without warning. Their trajectory probably will continue to track broader crypto conditions, retail risk appetite, and community strength rather than the merits of any individual token. The sector’s future looks secure for now; the future of almost any specific coin in it is not.

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Source: https://coindoo.com/memecoins-future-after-drop-from-highs/