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Stablecoins:- India’s digital payments leadership is reshaping global finance. Yet, one layer remains stuck in inefficiency: cross-border transactions. Remittances and trade payments still rely on slow, expensive legacy rails. But that could soon change—with stablecoins poised to be the next breakthrough. Stablecoins, digital tokens backed 1:1 by fiat currency and issued on public blockchains, are
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Cardano (ADA) bulls appear to be losing their grip amid the broader crypto market’s consolidation over the past week.
Technical indicators suggest that the bullish presence in ADA’s spot markets is fading, a shift that could lead to a potential revisit to its year-to-date low of $0.50.
ADA’s Elder-Ray Index, which measures the strength of its bulls relative to bears, has shown a consistent decline over the past few days, signaling weakening buying momentum. Readings from the ADA/USD daily chart have revealed a steady decrease in the sizes of the histogram bars that make up this indicator, highlighting the dip in bullish strength.
A gradual reduction in the size of the Elder-Ray Index bars typically suggests a diminishing gap between bullish and bearish forces. As bullish pressure weakens and bears begin to gain control, the histogram bars shrink. This often serves as an early warning sign of a trend reversal or increased likelihood of downward price movement.
This trend implies that ADA’s buyers are steadily losing control, and a deeper correction may be underway.
Furthermore, ADA’s Chaikin Money Flow (CMF) is negative and has remained below the zero line since Monday. At press time, this momentum indicator, which measures money flow into and out of an asset, is at -0.09.
A negative CMF reading like this indicates the asset is experiencing more selling pressure than buying pressure. This hints at the likelihood of a further decline in ADA’s value in the short term.
ADA currently trades at $0.69, resting above support formed at $0.66. If bullish pressure weakens further, ADA could break below this support level and fall toward its year-to-date low of $0.51.
On the other hand, a resurgence in new demand for the altcoin will prevent this from happening. If Cardano bulls increase their buying activity, the support floor at $0.66 will strengthen, propelling ADA’s price to $0.76.
The post Cardano Bull Power Fades as ADA Eyes Return to Year-To-Date Lows appeared first on BeInCrypto.
Ripple’s RLUSD stablecoin has been steadily gaining momentum, emerging as one of the fastest-growing assets in the crypto space.
Data from DeFillama reveals that RLUSD’s circulating supply surged by 47% this month, reaching an impressive $455 million in June. This means its supply increased by over $150 million this month.
According to the data, approximately $390 million of RLUSD’s supply is on the Ethereum network, while $65 million resides on Ripple’s XRP Ledger.
Notably, the stablecoin’s supply on Ethereum has grown by nearly four times since January, according to blockchain analytics platform Token Terminal.
@Ripple‘s RLUSD stablecoin is growing on @ethereum, with supply up ~4x since January. pic.twitter.com/nQ88TYVtnc
— Token Terminal
(@tokenterminal) June 28, 2025
Market analysts noted that several key factors have contributed to RLUSD’s impressive market growth.
One of the primary drivers is the passage of the US GENIUS Act, which provides clear regulatory guidelines for dollar-backed stablecoins.
This legal framework is expected to encourage further growth in the sector by enabling stablecoin issuance under well-defined regulations.
Moreover, Ripple’s improved legal standing with the US Securities and Exchange Commission (SEC) is further boosting RLUSD’s appeal in the industry.
After a five-year legal battle, Ripple CEO Brad Garlinghouse announced that the company would drop its cross-appeal. This move signals a possible end to the protracted legal dispute.
Considering this, market observer expects the development to strengthen confidence in RLUSD as a reliable stablecoin for industry players.
Ripple launched RLUSD in December 2024 as a US dollar-pegged stablecoin designed to meet regulatory standards and offer global accessibility. The digital asset is minted under a New York trust company license and is backed by short-term Treasurys and cash.
In addition to the US legislative advancements, RLUSD has also received approval from the Dubai Financial Services Authority (DFSA), which regulates the Dubai International Financial Centre (DIFC).
This approval allows companies within the DIFC to use RLUSD for various virtual asset services, including payments and treasury management.
The DIFC is home to nearly 7,000 registered businesses and serves as a key financial hub for the Middle East, Africa, and South Asia. This positioning sets the stage for broader adoption of RLUSD across these regions.
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The Shiba Inu community is once again mirroring optimism amid a massive 3,800% burn rate recorded on Thursday. On-chain metrics have revealed that 284 million SHIB got destroyed in the last 24 hours, suggesting a bullish outlook for long-term price prospects. SHIB price is currently trading around the $0.000013 price level, with the crypto holding support at $0.000012.
According to the official tracker Shibburn’s data on May 1, the Shiba Inu burn rate sky shot by a whopping 38299% in just 24 hours. As per the data, this massive surge came against the backdrop of 283.74 million tokens ditched from the supply intraday.
Primarily, the wallet address 0x6081258689a75d2…887239fe was reported to be responsible for the lion’s share in the burn upswing as it solely burnt 263.70 million SHIB over the past day. In the upshot, broader market sentiments about such massive burns remain bullish, given the law of supply and demand.
It’s notable that the SHIB burn mechanism permanently reduces the supply by sending tokens to a null address, making their retrieval impossible. In turn, the meme coin’s supply takes a severe hit, and long-term price prospects also reflect optimism.
However, despite the massive burn rate surge, SHIB coin’s price has prevented any major gains and continued its consolidation today2. At the time of reporting, the meme coin rested at $0.00001331, maintaining a trading session around the previous day’s levels.
Notably, the short-term impact of such massive burns is usually negligible, although historical data shows that it is bullish for long-term prospects. A total of 410.73 trillion tokens have been burnt to date, thanks to the Shiba Inu burn mechanism. Besides, 584.41 tokens are still left in circulation, per the tracker’s data.
A SHIB price prediction by CoinGape in the interim revealed that the meme coin eyes a price rally shortly ahead. This bullish projection rides the back of strong technicals and bullish on-chain metrics. Notably, the dog-themed crypto is currently in an accumulation zone and the next key level to watch is $0.00001364. Overall, broader market sentiments orbiting the meme coin remain bullish amid rising Shiba Inu burn rates and other bullish dynamics.
The post Shiba Inu Community Burns 284M Tokens In 24 Hours, What’s Happening? appeared first on CoinGape.