This week's major cryptocurrency news summary, including Ripple's withdrawal of its appeal against the SEC and the stock price crash of Solana's financial company.

## Summary of Materials for Cryptoassets (Virtual Coins)

Rate of change compared to the previous week (22nd to 28th)

• Bitcoin (BTC): $107,196 +3.6%
• Ethereum (ETH): $2,423 +0.2%
• XRP (XRP): $2.14 +0.8%
• Solana (SOL): $142.87 +1.8%

We have compiled information over the past week focusing on the top market cap cryptoassets (virtual coins).

Market Cap Rank 1: Bitcoin (BTC)

Despite the geopolitical risks of the Iran-Israel conflict, the price stability of Bitcoin seems to have significantly improved compared to the past. According to Andre Dragosh, Head of Research at Bitwise Europe, Bitcoin's 60-day realized volatility has decreased to 27-28%.

On the 23rd, Adam Back, the founder of Blockstream, a company developing blockchain infrastructure, claimed the end of the altcoin era and called on investors to move their funds to Bitcoin or Bitcoin financial stocks. He posted on X, "For speculators, the financial stock season is the new alt season."

Furthermore, the institutional investor analysis platform "Bitcoin Vector" announced on the 24th that the structural transformation of Bitcoin is moving in a bullish direction. It noted that "the bottoming process is not a straight line, but the tide is beginning to change."

In addition, the hash rate of Bitcoin mining has sharply declined since the 15th of this month. The exact reason behind this decline is not clear, but there are increasing views on social media that the attacks by Israel on Iran may be influencing it.

Bitcoin (BTC) News and Price

Comparing Bitcoin Exchanges | Which one allows for comfortable and cost-effective trading?

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Market Cap Rank 2: Ethereum (ETH)

SharpLink Gaming (SBET), listed on Nasdaq, announced on the 24th that it had purchased an additional 12,207 Ethereum for approximately $30.67 million between June 16 and 20. The average purchase price was $2,513 per coin, bringing the company's total ETH holdings to 188,478.

On the 25th, Bit Digital, a listed cryptoasset company, announced a complete withdrawal from the Bitcoin mining business and a strategic shift to become a staking and treasury company specializing in Ethereum. They have started a public offering of shares and stated that the entire amount raised will be allocated to the purchase of Ethereum.

Furthermore, the number of unique users of Ethereum-based stablecoins has exceeded 750,000 this week, setting a new record. Unique users refer to the number of users counted without duplication.

Ethereum (ETH) News - Price

Thorough explanation of investment merits and risks

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Market Cap Rank 4: XRP

According to data released by the US CME Group on the 23rd, XRP futures achieved a trading volume of $545 million within one month of trading commencement. On the first day of trading, $19.3 million in transactions were recorded from 15 companies and 4 individual investor platforms, confirming broad market participation.

On the 26th, RippleX announced a partnership with Wormhole, a major cross-chain interoperability protocol. This integration will bring multi-chain interoperability to the XRP Ledger (XRPL) mainnet and the upcoming XRPL EVM sidechain.

Furthermore, Ripple's CEO Brad Garlinghouse announced on the 28th that they would withdraw their appeal against the U.S. Securities and Exchange Commission (SEC). In a post on X, he stated, "We are withdrawing the appeal, and the SEC also plans to withdraw theirs," indicating their intention to put an end to the nearly five-year legal battle.

XRP News and Price

Thorough explanation of investment merits and risks

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Market Cap Rank 6: Solana (SOL)

On the 23rd, U.S. payment giant Fiserv (NYSE: FI) announced the launch of its digital asset platform, including its own stablecoin "FIUSD," within the year. The company processes 90 billion transactions annually through a network of about 10,000 financial institution clients and 6 million merchants.

Additionally, shares of the Nasdaq-listed e-commerce company Upexi (UPXI) plummeted about 60% at the start of the U.S. market on Tuesday. This is believed to be due to investors registering a resale of 43.8 million shares, resulting in a supply shock comparable to the new share issuance in April.

Furthermore, on the 25th, major asset management company Invesco and cryptocurrency specialist firm Galaxy Digital submitted a registration application for a Solana ETF to the US SEC. Several companies, including VanEck, Bitwise, and 21Shares, are competing for the Solana spot ETF.

Solana (SOL) News and Price

Recommended Exchanges | Future Potential, Buying Methods, and Comprehensive Risk Overview

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Market Cap Rank 9: Dogecoin (DOGE)

According to Tokenomist (formerly known as Token Unlocks), a total of $89.43 million worth of cliff-type token unlocks will occur during the week from the 23rd to the 30th in US time. Additionally, unlocks of major tokens such as Dogecoin (DOGE) are also planned.

Token unlocking is an event where tokens that have been locked up by a Web3 project for a certain period are released into the market. This can lead to selling pressure, as investors may associate the increased supply of tokens with value dilution, raising their sense of caution.