The United States Department of Justice has filed an enforcement action as it moves to seize more than $225 million in cryptocurrency tied to massive pig butchering scams. On June 18, the U.S. Attorney’s Office said it had filed a…

DOJ seeks forfeiture of $225m tied to crypto ‘pig butchering’ scams

Crypto asset managers have grown their onchain allocations to $4 billion so 
far this year, as DeFi becomes the “‘invisible’ back-end” to fintechs, Artemis 
and Vaults report.

‘Crypto-native’ asset managers quadruple onchain holdings since January

Ethereum price started a fresh decline below the $2,620 zone. ETH is now 
consolidating losses and remains at risk of more losses below $2,500. Ethereum 
started a fresh decline below the $2,600 level. The price is trading below 
$2,540 and the 100-hourly Simple Moving Average. There is a rising channel 
forming with support at $2,480 on the hourly chart of ETH/USD (data feed via 
Kraken). The pair could start a fresh increase if it clears the $2,565 
resistance zone in the near term. Ethereum Price Faces Resistance Ethereum 
price started a fresh decline below the $2,620 pivot level, like Bitcoin. ETH 
price declined below the $2,600 and $2,550 levels. The bears even pushed the 
price below the $2,500 level. The pair tested the $2,450 zone and started a 
consolidation phase. There was a minor move above the $2,500 level. The price 
climbed above the 23.6% Fib retracement level of the downward wave from the 
$2,680 swing high to the $2,455 low. Ethereum price is now trading below 
$2,550 and the 100-hourly Simple Moving Average. Besides, there is a rising 
channel forming with support at $2,480 on the hourly chart of ETH/USD. On the 
upside, the price could face resistance near the $2,540 level. The next key 
resistance is near the $2,565 level. It is close to the 50% Fib retracement 
level of the downward wave from the $2,680 swing high to the $2,455 low. The 
first major resistance is near the $2,625 level. A clear move above the $2,625 
resistance might send the price toward the $2,680 resistance. An upside break 
above the $2,680 resistance might call for more gains in the coming sessions. 
In the stated case, Ether could rise toward the $2,800 resistance zone or even 
$2,880 in the near term. Another Decline In ETH? If Ethereum fails to clear 
the $2,540 resistance, it could start a fresh decline. Initial support on the 
downside is near the $2,480 level. The first major support sits near the 
$2,450 zone. A clear move below the $2,450 support might push the price toward 
the $2,320 support. Any more losses might send the price toward the $2,240 
support level in the near term. The next key support sits at $2,150. Technical 
Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the 
bearish zone. Hourly RSI &#8211; The RSI for ETH/USD is now below the 50 zone. Major 
Support Level – $2,450 Major Resistance Level – $2,540

Ethereum Price Faces Downward Pressure — More Pain Before a Bounce?

A few altcoins have diverged from the market with sharp rallies. Here&#8217;s 
whether they can sustain the momentum, according to social media data. Social 
Media Has Started Paying Attention To These Altcoins In a new insight post, 
the analytics firm Santiment has talked about some altcoins that have recently 
diverged from the rest of the market with notable price surges. Related 
Reading: Bitcoin NVT Enters Reversal Zone: BTC Dangerously Overvalued? Here 
are the coins in question and how their monthly returns have looked: As is 
visible above, these altcoins have managed to deliver sizeable profits during 
a period where the major assets have printed losses. Bitcoin (BTC), for 
instance, is down around 2% on this timeframe. Among the listed alts, two are 
particularly prominent in terms of market cap size: Hyperliquid (HYPE) and 
WhiteBIT Token (WBT). The former has seen a rise of 51.6% and the latter 
59.2%. Now, can these coins sustain their runs? One hint can come from social 
media data. Santiment has shared two indicators related to social media: 
Social Dominance and Positive/Negative Sentiment. The first metric, the Social 
Dominance, tells us about what part of social media discussions related to the 
top 100 assets a particular cryptocurrency is responsible for. The indicator 
determines this by comparing the asset&#8217;s Social Volume, a count of the 
posts/messages/threads on social media containing unique mentions of the coin, 
with the combined Social Volume of the top 100 cryptocurrencies. The other 
metric of interest, the Positive/Negative Sentiment, basically measures the 
ratio between the positive and negative sentiments present among the social 
media users. To determine this, the indicator runs the Social Volume of an 
asset through a machine-learning model to distinguish between bullish and 
bearish comments. It then takes the ratio of the two to find the net situation 
on these platforms. First, here is a chart that shows the trend in both of 
these metrics for Hyperliquid: As displayed in the above graph, the Social 
Dominance of HYPE peaked at 1.5% in May, but has gone down since then, despite 
the price continuing its surge. Nonetheless, the indicator has remained at 
1.25%, which is still a notable level. Alongside this high attention, the 
Positive/Negative Sentiment has stayed at around 3.75, which suggests social 
media users have been making almost 4 times as many bullish comments related 
to the altcoin as bearish ones. Historically, altcoins have tended to move 
against the crowd&#8217;s expectations, so an excessive sentiment in either 
direction has often proven to be a reversal signal. This means that an overly 
bullish mood can actually lead to a top for an asset. Considering this, HYPE 
may not be in the best position for continuing its surge, at least from the 
perspective of sentiment. Related Reading: XRP Bullish Signal: Shark &amp; Whale 
Wallets Set New All-Time High While Hyperliquid has seen a bit of a cooldown 
in Social Dominance, WhiteBIT Token has just seen a huge surge. That said, 
WBT&#8217;s Positive/Negative Sentiment hasn&#8217;t budged alongside this Social 
Dominance explosion, although it remains at a notable level of 3.07. Based on 
the trend, the analytics firm thinks, &#8220;we likely will see its price make a 
second run after its local top that just occurred on June 15th unless FOMO 
begins to make an appearance.&#8221; HYPE Price Hyperliquid has seen a sharp decline 
since its peak on Monday as its price has come down to $39, a potential sign 
that the social media hype may already be biting back. Featured image from 
Shutterstock.com, Santiment.net, chart from TradingView.com

These Altcoins Are Bucking The Trend—But Can They Keep It Up?

XRP surges into the spotlight as Canada’s stock exchange TSX welcomes three 
groundbreaking ETFs in one day, unleashing massive institutional demand and 
reshaping the regulated digital asset investment landscape. Canada Lights up 
TSX With 3 XRP ETFs in One Day—Wall Street Left Frozen More companies are 
increasingly launching XRP exchange-traded funds (ETFs), reflecting surging 
institutional […]

3 XRP ETFs Debut in Canada in a Single Day—Regulated Crypto Access Accelerates

Crypto entrepreneur Anthony Pompliano says Coinbase’s stock surge indicates 
that “Wall Street wants Bitcoin and crypto assets.”