Ethereum Reclaims $1,620 as Trading Volume Jumps 97%
Ethereum climbed back above $1,620 on Sunday, rising 3.74% over the past 24 hours as trading activity picked up sharply.
ETH was trading near $1,628, while daily volume jumped 97% to more than $11 billion. Its market capitalization stood around $196 billion, though the token remained down about 6% over the past week.
The rebound comes despite continued pressure from spot Ethereum ETF outflows, with funds seeing seven straight weeks of withdrawals. SoSoValue data showed $12.85 million in net outflows on June 26, taking weekly withdrawals to about $273 million.
Still, large buyers continue to build ETH exposure. SharpLink Gaming reportedly bought nearly 40,000 ETH last week, while BitMine also added to its Ether holdings.
ETH now faces resistance near the $1,640 to $1,650 zone. A clean break above that range could trigger short covering and open the path toward $1,700 to $1,750.
White House to Meet Police Groups Over Crypto Bill Concerns
The White House has reportedly invited law enforcement groups for a Monday meeting over objections to the Senate’s crypto market structure bill, as debate intensifies around illicit finance protections.
The concern centers on Section 604 of the Digital Asset Market Clarity Act, which seeks to protect DeFi software developers from being treated as money transmitters when they do not control the tools they build.
Law enforcement groups, including the National Sheriffs Association, have warned that the language could create broad exemptions for mixers, tumblers and some DeFi activity.
The talks come as Senate leaders push to bring the Clarity Act to the floor in July. The bill still needs 60 votes, meaning Democrats will be crucial as lawmakers debate DeFi liability, ethics rules for officials with crypto ties and CFTC staffing.
JPMorgan Backs Crypto Rules, Warns Against Regulatory Gaps
JPMorgan said it supports efforts to create a U.S. regulatory framework for digital assets, but warned that crypto products should not bypass safeguards used in traditional finance.
In a Monday blog post, Umar Farooq, global co-head of JPMorgan Payments, and Peter Muriungi, CEO of Digital Assets and Blockchain Solutions, said pending market structure legislation could help the industry mature if it closes regulatory gaps.
The bank said assets that function like securities should remain under securities laws, even if issued on a blockchain. It also argued that decentralized platforms acting like exchanges or brokers should follow market integrity, disclosure and customer protection rules.
JPMorgan also flagged stablecoin risks, warning that products resembling bank deposits should not operate outside capital, liquidity and consumer protection rules. The comments come as lawmakers work to advance the Digital Asset Market Clarity Act before the August recess.
SYN Extends Rally as Volume Crosses $109M
Synapse’s SYN token extended its rally on Sunday, trading at $0.4252 after rising 13.6% over the past 24 hours.
The token moved between a 24-hour low of $0.3418 and a high of $0.4498, while trading volume stood at $109.84 million. SYN’s market cap reached $93.29 million, with its fully diluted valuation at $106.47 million.
The rally followed fresh attention around Synapse after reports that Arthur Hayes backed its Hyperliquid-linked derivatives platform. SYN has also gained 79.4% over the past seven days, while its 30-day jump stood above 867%.
Synapse currently has a total value locked of $11.15 million, with 219.06 million SYN in circulating supply out of a 250 million max supply.
Ethena Brings USDe to BlackRock’s Aladdin Network
Ethena said it is integrating USDe into BlackRock’s Aladdin platform, giving institutional users access to its synthetic dollar through one of traditional finance’s biggest portfolio and risk-management networks.
The collaboration will also use BlackRock’s tokenized Treasury fund BUIDL as a core asset for Ethena’s new institutional whitelabel product. Ethena said the setup will support structured yield offerings and liquidity for tokenized Treasury products.
The update adds to Ethena’s push into institutional real-world assets, following its $250 million commitment to Securitize’s tokenized AAA CLO fund on Solana.
ENA rose after the announcement, trading near $0.08014 after gaining more than 5.5% over the past 24 hours, with an intraday high near $0.08378.
Bybit to Limit Some Services for EEA Residents
Bybit said access to certain services on Bybit Global will be progressively limited for residents of the European Economic Area as part of its regulatory alignment efforts.
The exchange said affected users will receive clear communication before any measures are implemented, including timelines for managing existing and new positions.
Bybit added that users will retain access to assets custodied in their accounts while they remediate positions and balances.
BNY Adds Circle’s USDC to Digital Asset Custody Platform
BNY has added Circle’s USDC to its Digital Asset Custody platform, giving institutional clients a single setup to hold, transfer, mint and redeem the stablecoin.
The move expands BNY’s role beyond safeguarding USDC reserves and brings stablecoin activity closer to traditional banking infrastructure.
For Circle, the partnership strengthens USDC’s position in institutional finance at a time when banks and asset managers are increasingly treating stablecoins as payment and settlement rails, rather than standalone crypto assets.
SpaceX to Join Nasdaq 100 Index on July 7
SpaceX is set to join the Nasdaq 100 index on July 7, adding another major stock-market catalyst to the broader risk-asset calendar.
The inclusion could trigger fresh demand from index-tracking funds and ETFs that follow the Nasdaq 100. The move also comes shortly after SpaceX’s public market debut, making it one of the fastest major IPOs to enter the index.
For crypto traders, the update matters because SpaceX has become a key high-growth market signal. Any strong move in the stock could influence sentiment across risk assets, including crypto-linked equities and Bitcoin-adjacent market trades.
Strategy May Sell Bitcoin to Fund Dividends and Buybacks
Michael Saylor’s Strategy has unveiled a new capital framework that allows it to sell part of its Bitcoin holdings to fund dividends, debt costs, cash reserves and stock buybacks.
In a Monday SEC filing, Strategy said it may monetize up to $1.25 billion in Bitcoin while raising the STRC preferred stock dividend rate to 12% from 11.5%.
The company said its cash reserve now stands at $2.55 billion, enough to cover about 17 months of preferred dividends and interest payments. Saylor said the reserve, combined with the Bitcoin monetization capacity, gives Strategy up to $3.8 billion in coverage.
Strategy did not buy any Bitcoin last week. Its holdings remain unchanged at 847,363 BTC, purchased for $64.1 billion at an average price of $75,651 per Bitcoin.
Bitcoin Slips Below $60K as Trading Volume Jumps 72%
Bitcoin slipped below the $60,000 level after repeated attempts to reclaim the mark, keeping traders focused on whether the latest move is a brief pullback or another failed breakout.
According to CoinMarketCap BTC traded at $59,444.15, down 0.92% over the past 24 hours. Its market capitalization stood near $1.19 trillion, while 24-hour trading volume jumped 72.1% to $25.57 billion.
The rise in volume shows that activity picked up as Bitcoin moved back under the psychological $60K level. That makes the next few hours important for market direction, especially with major altcoins still taking cues from BTC’s momentum.
For now, $60,000 has turned into the immediate resistance zone. A clean move back above it could support a broader market rebound, while continued weakness may keep Ethereum, XRP, BNB and Solana under pressure.
