Bitcoin Exceeds $118,000, Ethereum Exceeds $3,000
Bitcoin surpassed the $118,000 level, pulling the entire crypto market higher. Ethereum also surpassed $3,000, bringing the total crypto market capitalization to approximately $3.6 trillion. The main reason for this rise is the increased interest from institutional investors. BlackRock’s $125 million purchase of Bitcoin and then Ethereum supported this, while El Salvador’s increase in its reserves was also noteworthy. These developments contributed to the perception of crypto as a reliable asset, rather than a speculative investment.
Trump Imposes 35% Customs Duty on Canada, 15-20% Tariffs on Other Countries on the Way
US President Donald Trump announced that a 35% customs duty will be imposed on imports from Canada starting August 1. Trump also announced plans to impose across-the-board tariffs of 15% to 20% on other trading partners. It was stated that some items, such as energy and fertilizer, would retain their exemptions under the USMCA agreement. However, Trump said there could be flexibility in the tariffs if Canada cooperates in stopping the flow of fentanyl.
Canadian Prime Minister Mark Carney, in a statement on X, stated that they would defend Canadian workers and businesses in negotiations with the US. Canada is the US’s second-largest trading partner. Meanwhile, Trump’s new tariffs on Japan, South Korea, and the EU are also on the agenda. Financial uncertainty is increasing as markets closely follow news about potential tariffs, particularly on the EU.
Robinhood Launches Ethereum and Solana Staking Service in the US
Robinhood has begun offering its US users the ability to stake Ethereum (ETH) and Solana (SOL). Users can now contribute to network security by locking their digital assets on the platform and earn rewards. Staking rewards will be distributed according to the protocol rates of the respective networks, but certain deductions will apply. Specifically, for Ethereum, Robinhood will achieve a return ranging from 50% to 100% of the protocol rate by meeting the 32 ETH validator threshold through batching.
This service is not yet available in California, Maryland, New Jersey, New York, and Wisconsin. As of October 1, 2025, Robinhood will begin collecting a 25% service fee on staking rewards, which will be supplemented by fees from third-party partners. The company had long avoided offering staking services in the US due to regulatory uncertainty. However, recent legal clarifications have paved the way for Robinhood to offer services in this area as well.
Former Blockchain Executive Appointed New OCC Chair
The US Senate has confirmed Jonathan Gould, former Bitfury legal chief and former OCC general counsel, as head of the Office of the Comptroller of the Currency (OCC). The appointment, approved by a 50-45 vote, was forwarded to President Donald Trump for final approval. Gould was nominated by Trump in February. The OCC is one of the key financial regulatory agencies that oversees national banks and federal savings institutions in the US.
While Gould’s past experience in the crypto industry is noteworthy, even Senator Cynthia Lummis, known for her crypto-friendly views, hesitated in the initial vote. Lummis stated that further discussion was needed regarding the stablecoin legislation and the impact of federal laws on state banking regulations, but she ultimately approved it. The OCC had previously adopted a more crypto-friendly stance this year, issuing statements allowing banks to trade crypto assets. Additionally, the GENIUS Act, a bill addressing stablecoin regulations, will be debated in Congress next week. The bill aims to require stablecoins to be fully reserve-backed and to impose annual audit requirements on large issuers.
Ripple-SEC Litigation Nears Conclusion: Cleanup Letter to Judge Torres
As the litigation between Ripple and the U.S. Securities and Exchange Commission (SEC) nears its conclusion, a new letter sent to Judge Analisa Torres signaled the start of the administrative cleanup process in the case. Attorney Andrew Kunsak of Sidley Austin LLP requested the court to remove his client from the case. Kunsak stated that his client’s testimony in the case has been completed and that he has no objections regarding confidentiality.
Kunsak stated that the investment banker who joined the case as an expert witness in August 2023 has completed his duties. He also stated that he will soon be leaving the law firm and will no longer be represented by any attorney in the matter. The litigants had previously filed a motion to reduce the criminal penalty to $50 million and lift the preliminary injunction, but Judge Torres denied the motion. With the SEC dropping its appeal, Ripple CEO Brad Garlinghouse announced the termination of its counter-appeal. The price of XRP has risen nearly 6% in the last 24 hours, reaching $2.56.
Bhutan Transfers $23 Million in BTC to Crypto Platform
The Royal Government of Bhutan has transferred approximately 212.31 BTC ($23.61 million) worth of assets to a crypto platform after Bitcoin surpassed $112,000 to reach a new all-time high. The move follows a similar transfer of 136.99 BTC ($14.75 million) last week. According to onchain analytics firm Arkham, Bhutan typically makes these transfers during price rallies, indicating a possible sell strategy.
Bitcoin reserves, managed by the state-owned investment arm Druk Holding & Investments, currently stand at approximately 11,711 BTC, worth $1.3 billion. This amount accounts for 40% of the country’s gross domestic product. Unlike most countries, Bhutan obtains these assets not from criminal proceeds but from environmentally friendly mining operations using hydropower, making it the sixth-largest state-owned BTC investor globally.
Ant Group Integrates Circle’s USDC into Blockchain Platform
The international arm of Ant Group, backed by Alibaba founder Jack Ma, is preparing to integrate Circle’s US dollar-pegged stablecoin, USDC, onto its proprietary blockchain platform. However, the integration process is contingent on US regulators approving USDC under new federal rules. The move is part of Ant Group’s vision to build an infrastructure that supports various types of digital assets, including digital dollars, tokenized bank deposits, and central bank digital currencies (CBDCs).
Ant’s blockchain already supports tokenized assets held by financial institutions and processed over $300 billion in transactions last year. If the integration goes through, Ant International could become the largest foreign user of a US-based stablecoin. The company has also applied for stablecoin licenses in Singapore, Hong Kong, and Luxembourg. Ant Group is reportedly collaborating with the People’s Bank of China on a digital yuan.
REX Shares Files for 2x Leveraged TRON ETF
As diversification in the crypto ETF space accelerates, investment firm REX Shares has filed for a 2x leveraged exchange-traded fund (ETF) for TRON (TRX). Dubbed the T-Rex 2X Long TRON Daily Target ETF, the new product aims to provide leveraged exposure to 200% of TRON’s daily price movement.
According to the filing filed with the SEC, the fund will not invest directly in TRON, but instead will provide indirect exposure through swap agreements, call options, and other TRON-focused ETF investments. The management fee is set at 1.5%. This product is only suitable for investors with a developed risk tolerance due to its high volatility and risk. The SEC is reportedly formally reviewing the REX Shares application, with a decision expected towards the end of 2025. These developments indicate growing interest from traditional financial institutions in alternative blockchains like TRON.
Emirates to Launch Cryptocurrency Payments in 2026
Dubai-based Emirates Airline has partnered with a crypto payment platform to accept payments with digital currencies. The integration is planned for 2026. Emirates first announced its crypto payment plans in 2022. With this move, the company aims to reach a young, tech-savvy customer base who prefer using digital currencies.
It has not yet been clarified which services will offer crypto payment options or which cryptocurrencies will be accepted. However, the platform’s business payment systems allow for transactions with more than 20 crypto assets. Emirates also plans to launch marketing campaigns to promote this new payment system. Last year, the Dubai government took steps to encourage digital payments as part of its “cashless society” strategy.
BIT Mining Transitioning to Solana Ecosystem, Plans $300 Million SOL Acquisition
BIT Mining, a crypto mining company listed on the New York Stock Exchange, is abandoning traditional mining and shifting its focus to the Solana network. As part of this strategic transition, the company will adopt a HODL strategy by converting all its existing crypto assets to SOL and aims to raise funds for a $200 million to $300 million SOL acquisition. It also plans to support the Solana network by running validator nodes and earn staking rewards.
The company’s move, similar to MicroStrategy’s Bitcoin strategy, allows a public company to offer investors indirect investment opportunities through Solana. Following the announcement, BIT Mining’s shares surged over 300%. Following the same trend, other publicly traded mining companies like Bit Digital and BitMine have also moved away from Bitcoin mining and toward ETH and other Layer-1 assets. This reflects the growing interest in alternative blockchain platforms alongside the shifting balance of power in the mining industry.
Australia Begins Testing CBDC and Stablecoins
The Reserve Bank of Australia (RBA) is moving into the second phase of “Project Acacia,” a program launched to assess the potential of digital currencies in financial markets. This new pilot program will test stablecoins, bank deposit tokens, and a wholesale central bank digital currency (CBDC). In the six-month trials, institutions including major banks such as CBA, ANZ, and Westpac will explore 24 different use cases. These include asset classes such as government bonds, carbon credits, and trade receivables.
CBA, together with JPMorgan, will test how digital currency and collateral systems can be more efficient and lower-risk in the repo market. ANZ will work on tokenized trade receivables and fixed-income securities. The Australian Securities and Investments Commission (ASIC) has granted exemptions from some regulations to pave the way for these trials. In addition, the Australian government is continuing the process of developing a new regulatory framework to regulate cryptocurrency exchanges under financial services laws.
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BITCOIN (BTC)
Bitcoin (BTC) is trading at $118,090 as of this morning, gaining 1.78%. Rapid increases overnight have set a new all-time high. If the pullbacks continue, $116,895 can now act as the first support level. If this level is broken, $115,546 could be tested. In the event of a potential rally, $118,409 will now act as resistance. If broken, new highest levels can be expected.
ETHEREUM(ETH)
ETH is priced at $3,116 with a 2.24% gain as of the morning hours. If the rise continues for ETH, which broke the important resistance levels with voluminous candles, it will reach $3,031 If the dollar stays above this level while it is the first resistance level, an increase up to the $ 3,165-3,222 band can be expected. These levels are important resistance levels. In case of possible downside movements, the 2,882-2,832 region seems to be an important support area.
RIPPLE(XRP)
XRP is priced at $2.59 with a 1.85% gain as of the morning hours. The price has surpassed the resistance level at 2.4519 with significant volume and is approaching the strong supply area at 2.6544. This area should be monitored carefully, as it has historically been a level of intensified selling pressure.
Initial support levels for pullbacks are 2.4519 and subsequently 2.3944. In the upward break, persistence above 2.6544 may bring new peak attempts.
AVALANCHE(AVAX)
AVAX is traded at $21.13 with a 2.13% gain as of the morning hours. The price broke the short-term downtrend, surpassing the resistance area at 19.86 with significant volume. This breakout suggests buyers are gaining strength.
For AVAX, currently trading around 21.52, the next strong resistance area is the $22.59 band. This area has seen strong selling in the past, so it should be closely monitored. In the event of a pullback, the 19.86-19.50 range can be monitored as support. Maintaining this level is critical for the continuation of the rise.
SOLANA(SOL)
SOL is traded at $165 levels with a 0.68% gain as of the morning hours. The price is continuing its strong upward momentum in recent days and has achieved a notable technical breakout by breaking above the 157.75 resistance level. Continued closing above this level reinforces the bulls’ dominance in the market.
The $165–$168.22 range currently being tested stands out as a key resistance area. If this range breaks upwards, the price is likely to accelerate to the main resistance area at $173.66. On the other hand, the $157.75 level can now be monitored as an initial support level in the event of a pullback.
