USDC stablecoin issuer Circle has finally applied for the Initial Public Offering (IPO) for listing “CRCL” stock on the New York Stock Exchange (NYSE). This development comes as the firm puts to rest the rumors of a potential acquisition by Coinbase or Ripple. Furthermore, the announcement comes just as the stablecoin bill aka GENIUS Act, is just one step away from becoming a law. Circle Files for IPO And Listing on NYSE Circle Internet, the issuer of the USDC stablecoin, announced plans to seek a valuation of up to $5.65 billion through its U.S. initial public offering (IPO). The company aims to sell approximately 9.6 million shares, while existing shareholders intend to offload an additional 14.4 million shares. The company’s stock will trade on the New York Stock Exchange (NYSE) under the ticker “CRCL” after securing all regulatory approvals. As per the official press release, each CRCL stock will be… Read More at Coingape.com
Several interesting developments happened this week in crypto, cutting across diverse ecosystems. Key highlights, however, centered on Bitcoin (BTC) and XRP ecosystems.
In case you missed it, here is a roundup of the top stories this week in crypto.
Bitcoin Tests $97,000
Starting the list of what happened this week in crypto, Bitcoin tested the $97,000 milestone for the first time since February 2025. However, as of this writing, the pioneer crypto pulled back shortly after and was trading for $96,731.
Another key highlight this week in crypto concerned speculation of a possible collaboration between the Sui blockchain and Pokémon. Amidst these talks, the SUI price soared over 60% within the week.
These rumors sparked after a privacy policy update for Pokémon HOME featured Parasol Technologies, LLC, as a new developer. Parasol Technologies is a Web3 gaming infrastructure company that Sui’s developer, Mysten Labs, acquired in March 2025.
Nevertheless, changes in one of the circulating documents quelled the speculation, clarifying what had been a key driver for the SUI price this week.
“The official Sui Foundation blog confirmed (and removed) Pokémon NFTs. They seem to be developing a cloud infrastructure that uses blockchain technology to address bugs, hacks, and duping while enabling transfers between compatible games—something that is already possible with Pokémon Home,” another user highlighted.
Nevertheless, the correction did not quell speculation that Parasol may be involved in developing new features for Pokémon.
The SUI price has fallen almost 3% in the last 24 hours. As of this writing, it was trading for $3.47.
ProShares XRP ETF Rumors
Adding to the list of speculation this week in crypto, rumors spread that the US SEC (Securities and Exchange Commission) had approved a ProShares XRP ETF (exchange-traded fund).
However, BeInCrypto shut down these claims, articulating that the approval was for ProShares’ Leveraged and Short XRP Futures ETFs. ETF analyst James Seyffart also provided further clarity, deeming the allegations false.
“UPDATE: A lot of people posting/reporting that ProShares will be launching XRP ETFs on April 30th. We have confirmed that this is not the case. We do not have a confirmed launch date yet but we believe they will launch — and likely launch in the short or possibly medium term,” Seyffart explained.
ProShares launched three futures-based ETFs: the Ultra XRP ETF, the Short XRP ETF, and the Ultra Short XRP ETF. This development followed the launch of Teucrium’s 2x Long Daily XRP ETF in early April.
ProShares’ XRP Futures ETF Sparked Optimism
Meanwhile, the approval of ProShares XRP futures ETF sparked optimism, inspiring sentiment that a spot XRP ETF would be next.
According to forecasts by industry expert Armando Pantoja, the move could lead to substantial capital inflow into the altcoin.
“A spot XRP ETF could be next, unlocking real demand and sending prices soaring. $100 billion+ could soon flood into XRP,” he wrote.
Pantoja recognized that the approval marked a significant turning point for the industry, expanding XRP’s investor base.
The approval cleared the runway for the XRP ETF, granting Ripple’s token a regulated and accessible avenue for major financial players to engage.
“Futures ETF = first domino. Spot ETF = the tipping point. XRP’s long-term setup just got way stronger,” Pantoja remarked.
Another analyst was more measured amid heightened optimism, noting that the futures ETF was not the game-changer many might expect.
“It’s not the silver bullet that will trigger mass adoption or massive price action. The real catalyst will come when a Spot XRP ETF gets approved. Real tokens. Real demand. Real market impact,” John Squire posted.
SEC Delays XRP ETF Decision
To add to the list of developments in the XRP ecosystem this week in crypto, the US SEC delayed its decision on a prospective XRP ETF until June 17.
Before this news broke, crypto market participants awaited the final decision of XRP, Dogecoin (DOGE), and Ethereum staking ETFs. However, these were all put off.
“These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the XRP spot ETF, [I am] eyeing mid-October, around the 18th, as a final decision deadline. It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Seyffart explained.
For now, over 70 active ETF proposals await the securities regulator’s verdict. XRP ETF’s June deadline is not final, but the commission could still enact further delays until mid-October.
Meanwhile, data from Polymarket shows that bettors see a 34% chance that the financial instrument will be approved by July 31.
Earlier today, Israel launched a ‘pre-emptive strike’ on Tehran and declared a state of emergency. This rapid escalation of the conflict drove the crypto market into a freefall.
Over the past 24 hours, total liquidations amounted to $1.15 billion. Additionally, the overall market is down by 6.6%.
Crypto Market Plunges Amid Israel-Iran Conflict
According to CNN, Israel’s strikes targeted Iran’s nuclear program and missile capabilities, affecting dozens of locations. The attack reportedly eliminated Iran’s top military leaders and senior nuclear scientists. It was confirmed that General Hossein Salami, the Commander-in-Chief of Iran’s Islamic Revolutionary Guard Corps (IRGC), was killed.
“Iran’s state television says Deputy Commander in Chief of all Armed Forces, General Gholam Ali Rashid, has been killed, along with nuclear scientist Fereydoon Abbasi,” The Kobeissi Letter posted.
To prepare for potential retaliation, Israel has declared a state of emergency, closing schools, banning gatherings, and mobilizing tens of thousands of soldiers.
Furthermore, Iran is preparing a ‘lethal‘ response against Israel following the attacks. It has already appointed General Vahidi, the former head of the Quds Force, as the new commander of the IRGC.
Admiral Habibollah Sayyari has succeeded the late General Bagheri as the acting Commander-in-Chief of the Armed Forces of the Islamic Republic of Iran.
Statement No. 1 of the General Staff of the Armed Forces
In the early hours of Friday, 23 Khordad (June 12), the Zionist regime carried out an aggressive and reckless attack on several areas of the country, including both civilian and military zones. This assault resulted in… pic.twitter.com/TyQtkxPMmU
The rising tension between the two nations has caused significant turbulence in the market. Dow Jones Industrial Average futures fell by 1.3%, S&P 500 futures dropped 1.4%, and Nasdaq 100 futures plunged by 1.6%.
Nine of the top ten coins saw losses over the past day. Bitcoin (BTC) nosedived from over $108,000 to $104,112. However, altcoins suffered the harshest blow.
Crypto Market Cap Post Israel’s Attack On Iran. Source: BeInCrypto
Solana (SOL) lost nearly 10% over the past day. Ethereum (ETH) trailed closely with a 9.3% downtick. Among the top 100 coins, Fartcoin (FARTCOIN) and Ethena (ENA) stood out for double-digit losses of 17.3% and 15.9%, respectively.
These declines forced 247,769 traders out of their positions over the past 24 hours. According to Coinglass data, $1.15 billion has been liquidated from the crypto market.
Bitcoin faced $427.75 million in long and $19.10 million in short liquidations. Ethereum followed with $244.74 million in long liquidations and $43.57 million in short liquidations, highlighting the scale of market turmoil.
Nonetheless, the conflict drove oil and gold up. Oil prices spiked by more than 10%. U.S. West Texas Intermediate rose to $74.99 per barrel, marking a 10.21% uptick.
The global benchmark Brent increased by 10.28% to $76.48 per barrel. Gold also gained 1.2% to reach $3,426.
Analysts Divided Over Israel-Iran Conflict’s Impact on Crypto
As Iran prepares for retaliatory actions, it’s clear that the impact will be felt across markets. Amid this volatility, the cryptocurrency market, particularly Bitcoin, has become a focal point of debate among analysts.
“Bitcoin’s failure to rise against gold—despite over 3.5 years of hype, including a dozen ETFs, Super Bowl ads, El Salvador, NFTs, tens of billions of leveraged buying by MSTR, other Bitcoin treasury companies, the election of a Bitcoin president, and the establishment of a Bitcoin Strategic Reserve—is strong evidence that the bubble has peaked,” Schiff said.
Another analyst echoed his view, claiming that Bitcoin is not a safe haven but more akin to a tech stock.
“It is important to understand that Bitcoin shows its true colors as Israel attacks Iran. It is not an alternative-currency, it is not a safe haven, it is a risk asset, just like another tech stock, that will decline when the market goes to a risk-off posture,” the post read.
However, crypto advocate Anthony Pompliano maintained an optimistic outlook. Drawing parallels to an earlier incident when Iran launched 300 missiles at Israel, Pompliano noted that Bitcoin rebounded to outperform both oil and gold.
“Bitcoin ended up outperforming the other two over the first 48 hours in that situation. Will be interesting to see what happens here,” Pompliano stated.
Moreover, a recent BlackRock report revealed that while Bitcoin may underperform in the short term during geopolitical shocks, it has historically rallied double digits within 60 days post-crisis, outpacing gold and equities.
Despite immediate market jitters, this suggests a longer-term bullish outlook for the cryptocurrency. Still, the divide reflects broader uncertainties about Bitcoin’s maturity as an asset, with gold’s millennia-long stability pitted against Bitcoin’s 16-year track record. As markets stabilize, analysts will closely monitor price movements, with some betting on Bitcoin’s recovery and others clinging to gold’s proven reliability.
Renowned crypto analysts took the stage on Thursday, projecting a highly bullish outlook for TRX price ahead. Analyst ‘Ali Martinez’ spotlighted a remarkable spike in TRON network activity as it scales new highs, whilst ‘Crypto Patel’ revealed that a $1 price target is potentially achievable this bull cycle. As a result, traders and investors optimistically eye the Justin Sun-backed token amid a broader market recovery.
Analyst Forecasts TRX Price To $1
At the time of reporting, TRX price witnessed a 2% uptick and exchanged hands at $0.2458. The coin bottomed and peaked at $0.2407 and $0.2465 intraday. Notably, the rising trajectory aligns with the broader crypto market’s recent recovery-like trend.
Simultaneously, analyst Crypto Patel took to X, revealing that TRON is showcasing a strong momentum and a $1 price target potentially looms. According to the price chart shared by the analyst, the coin’s price holds strong support at $0.140. A sustained hold above this level remains bullish.
Source: Crypto Patel, X
The best ‘buy zone’ lies at $0.160 – $0.180, given the opportunity presents itself, per the analyst. Notably, the current price levels are considerably above the mentioned support zone, whilst sustained demand could propel new highs.
Can The Analyst’s Prediction Come True?
Intriguingly, it’s noteworthy that the analyst predicted a 200-300% surge in TRX price during October last year. Back then, the coin’s price traded around the $0.16 level, per CoinMarketCap data.
Subsequently, the price hit a $0.426 level as of early December 2024. This past chronicle is worth considering, although the price soon fell amid broader market trends.
TRON Network Activity Surge Bolsters Bullish Prediction
On the other hand, TRON network activity rose substantially, reaching a 2-month-high as of March 4.
According to analyst Ali Martinez, 2.94 million active addresses were recorded on the network recently. This data suggested rising market interest in the Justin Sun-led crypto project, paving a bullish road ahead.
Source: Ali Charts, X
Crypto Market Recovery Bolsters Hope
Simultaneously, the broader crypto market’s recovery-like trend has solidified investors’ optimism on TRX price. Bitcoin and altcoin witnessed notable gains amid pro-crypto developments in the U.S.
Donald Trump’s strategic crypto reserve announcement appears to have substantially boosted the market sentiment. Moreover, the looming U.S. crypto summit set for Friday has also glimmered hope over the market’s future prospects. Crypto market participants continue to monitor TRON extensively amid broader developments, signaling that a bull run to $1 is possible.
