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BlackRock Ethereum ETF (ETHA) hits a massive milestone with 3 million ETH holdings after the latest purchase of 59,309 ETH on July 29. The Ethereum fund has been on a massive acquisition spree in July, with assets under management (AUM) now over $11.1 billion. Amid these massive inflows, the ETHA share price is showing strength
The post BlackRock Ethereum ETF (ETHA) Hits 3M ETH Holdings As Bitcoin Dominance Slips appeared first on CoinGape.
Pump.fun (PUMP) recently completed a successful ICO, and its valuation reached $4 billion. However, this valuation has sparked significant skepticism regarding its legitimacy.
According to the analysis, the PUMP token lacks economic benefits. It primarily relies on brand hype, leading many to view it as the team’s cash grab rather than a platform-building effort.
In a recent report, BitMart Research points out that Pump.fun, despite once being an industry leader, is facing serious doubts about its $4 billion valuation, especially as market share declines and competition intensifies.
The report highlights that the PUMP token lacks governance rights, revenue sharing, or practical utility, relying solely on brand momentum to sustain value. This weakness has investors questioning its sustainability.
According to BitMart, 33% of the total supply was allocated for fundraising for $0.004 per token, with all tokens unlocked at launch. This has created selling pressure worth up to $1.32 billion.
Moreover, Pump.fun’s launch of the PUMP token occurred amid weak market sentiment and declining on-chain liquidity.
X account, TheCryptoProfes, said that Pump.fun reserved $800 million in tokens for the team, equivalent to 20% of the total supply. This significant team allocation could lead to substantial selling pressure, threatening liquidity and investor confidence.
“They are paying themselves $800m… this is the BIGGEST team allocation I have ever seen on a presale, at the highest ever launch valuation. (Data on ICO Drops)” TheCryptoProfes commented.
Meanwhile, new competitors, particularly LetsBonk, threaten Pump.fun’s market share. LetsBonk surpassed Pump.fun with 16,797 meme coins launched in July 2025. While still in a leading position, PUMP’s high-risk token model has raised doubts about its long-term sustainability.
In terms of tokenomics structure, the platform’s token has no built-in economic rights. Pump.fun’s team has clarified that the token’s sole function is to promote the platform.
According to BitMart, this lack of value means PUMP is essentially a “narrative-only asset.” This discourages holders from maintaining a long-term commitment, weakening their connection to the platform.
Despite this, Pump.fun’s strong brand remains a key advantage. Many main exchanges, including Coinbase and Binance, have announced their support for PUMP. However, without improvements to its tokenomics, Pump.fun risks repeating the failures of past projects.
The post Pump.fun’s $4 Billion Valuation Faces Scrutiny Over Token Utility Gaps appeared first on BeInCrypto.
The crypto market remains directionless, with mixed signals causing many altcoins to move sideways or decline. However, as June begins, bullish optimism grows around Bitcoin potentially reaching a new all-time high.
BeInCrypto has analyzed three altcoins for investors to watch—those likely to capitalize on Bitcoin’s momentum or forge their own path.
QNT has experienced a moderately bullish week, maintaining its position above the $101 support while currently trading at $104. This steady performance signals growing investor confidence, although no significant price increase has been noted yet.
The emergence of a Golden Cross, with the 50-day EMA crossing above the 200-day EMA, suggests QNT could push toward $111. Successfully flipping this resistance into support would confirm a positive trend for the altcoin and attract further buying interest.
Despite bullish signs, the risk of profit-taking remains. If investors begin selling, QNT could drop below the $101 support, potentially falling to $89. Such a move would invalidate the current bullish outlook and signal caution among traders.
SPX6900 stands out as one of the few meme coins avoiding sharp declines recently, trading steadily at $0.97 near the key $1.00 level. This stability suggests investor confidence as the coin holds its ground despite broader market fluctuations.
The RSI’s move into the bullish zone, after retreating from overbought levels, signals renewed buying momentum. This shift could help SPX6900 secure $1.00 as a strong support, potentially propelling it upward toward $1.23 and continuing its upward trend.
However, if investors decide to sell, SPX6900 may struggle to maintain its bullish momentum. A sell-off could push the price down to $0.81 or lower, which would invalidate the current positive outlook and indicate increased selling pressure.
XMR dropped 22% last week after a strong May performance but gained 7% in the last 24 hours, trading at $347 near the $348 resistance. This recent rise hints at renewed buying interest despite previous losses.
XMR’s strong 0.81 correlation with Bitcoin allows it to mirror BTC’s rallies. If Bitcoin reaches a new all-time high, the altcoin could flip $348 into support and push towards $418, benefiting from the crypto king’s momentum.
However, bearish conditions or selling pressure on BTC or XMR could lead to a decline below the $325 support. A drop to $300 would invalidate the current bullish outlook, signaling potential further downside risk.
The post 3 Altcoins to Watch in the First Week of June 2025 appeared first on BeInCrypto.
The post Circle Files for National Trust Bank License in the U.S. appeared first on Coinpedia Fintech News
Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national trust bank license in the United States with the Office of the Comptroller of the Currency (OCC). The behemoth stablecoin issuer intends to establish the First National Digital Currency Bank, which would manage its reserves in USDC.
“Circle has long sought to seek the highest standards of trust, transparency, governance, and compliance,” Jeremy Allaire, CEO at Circle, noted. “Becoming a publicly traded company is a significant part of that, becoming a national trust company is again a continuation of that.”
If approved by the OCC, Circle will join Anchorage Digital, which was issued the national trust bank charter. As a result, more institutional investors’ capital will flow to the crypto market.
To the wider crypto market, liquidity headwinds will be an issue of the past. Moreover, the current U.S. national government, led by President Donald Trump, has laid significant emphasis on clear crypto legislation.
Most importantly, the license will allow Circle to provide custody services for digital assets on behalf of the institutional investors. The palpable success of Circle in the stablecoin market has helped the firm attract more institutional investors, especially in the past year. The recent approval of the Genius Act in the U.S. Senate has increased the overall demand for stablecoins by institutional investors.
Furthermore, President Trump has urged Congress to hasten and pass the GENIUS Act and to facilitate the mainstream development and adoption of stablecoins.
The post Circle Files for National Trust Bank License in the U.S. appeared first on Coinpedia Fintech News
Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national trust bank license in the United States with the Office of the Comptroller of the Currency (OCC). The behemoth stablecoin issuer intends to establish the First National Digital Currency Bank, which would manage its reserves in USDC. “Circle has long …