💰 Russia's Cryptocurrency Market Soars as Institutional Investors Surge

🚀 Russia's cryptocurrency market is experiencing rapid growth as institutional investors invest trillions of rubles into digital assets and expand industrial mining operations. Vasily Girya, CEO of GIS Mining, announced at the St. Petersburg International Economic Forum that Russians' crypto holdings have exceeded 2 trillion rubles ($25.4 billion) by mid-2025.

According to our estimates, by the end of the first half of 2025, the value of Russians’ holdings in crypto assets surpassed 2 trillion rubles,

Girya stated. This milestone reflects a growing acceptance of digital currencies among Russians despite changing regulatory conditions. The significant increase indicates strong retail participation and a rising interest from major financial players.

📈 Investment and asset management firms are aggressively expanding their operations in response to a positive outlook on the profitability of crypto mining in Russia. Girya noted a notable increase in institutional interest, especially in bitcoin mining. He remarked,

Major investors continue to expand their digital currency portfolios by increasing orders placed with industrial mining operators.

🌍 While global regulators discuss the risks of cryptocurrencies, Russian institutional investors are leveraging the country's abundant energy resources for large-scale mining operations. This strategy not only optimizes resource use but also positions Russia as a significant player in the global crypto economy. The strong institutional momentum suggests that Russia's cryptocurrency market is set for further growth and could drive technological innovation and economic diversification in the coming years.

🎮 Valorant Masters 2025: A Milestone in Esports and Web3 Integration

🌟 The Valorant Masters 2025 held in Bangkok marked a significant moment in esports history, attracting over 4.3 million peak viewers and setting new viewership records for the Valorant series. This event highlighted the growing influence of Southeast Asia in both esports and crypto adoption, particularly in countries like South Korea, Vietnam, and Thailand.

🌍 The intersection of gaming and decentralized technology is reshaping the online competition landscape, enhancing fan experiences and sponsorship structures. As major tournaments like Valorant Masters expand, they are also establishing Web3 ecosystems that can benefit both players and viewers.

📢 The record viewership during T1’s victory underscored the importance of team identity in rallying national support. The success of Korean-language broadcasts emphasized the need for localized content in esports growth, especially in areas with high crypto usage.

📺 A significant trend observed during the Valorant Masters 2025 was YouTube surpassing Twitch as the preferred platform in Asia. This shift presents an opportunity for Web3 projects to incorporate blockchain incentives into livestreams. YouTube’s strong foothold in non-English-speaking regions makes it suitable for offering fan rewards through tokens, live tipping, and NFT tickets.

🌐 Riot Games’ expansion into Asian markets aligns with the rapid growth of Web3 infrastructure in emerging economies. Regions with high mobile adoption and interest in DeFi are ideal for integrating crypto-driven engagement models into esports.

🔮 Looking ahead, Valorant Masters 2025 demonstrates that esports is evolving into a comprehensive ecosystem. With the integration of blockchain technology in token sponsorships, crypto betting, and NFT interactions, the lines between gaming, blockchain, and digital identity are increasingly blurred. Major events like this are not only raising viewership standards but also paving the way for the next phase of Web3-powered entertainment.

💰 Coinbase Dominates Bitcoin Custody for Public Firms and ETFs

🏢 Coinbase, the leading crypto exchange, is solidifying its position in institutional crypto custody. CEO Brian Armstrong announced that eight of the top ten publicly traded companies holding bitcoin rely on Coinbase Prime for their bitcoin assets. Additionally, 81% of the $140 billion in crypto assets held by U.S. ETFs are also custodied by Coinbase. This highlights the company's growing influence in the financial infrastructure supporting digital assets.

📈 Armstrong shared these insights on social media following Coinbase's quarterly business review. He emphasized the company's focus on institutional growth and its expanding role in the ETF market. The statistics reveal Coinbase's commitment to providing digital asset custody and execution services for high-value clients.

🚀 On June 26, COIN reached an all-time high of $382.00, closing at $375.07. This surge reflects a broader crypto market rally and increasing institutional adoption, bolstered by favorable legislative developments such as the potential passage of the GENIUS Act for stablecoins.

🔒 Coinbase Custody is crucial for major clients like Blackrock and Strategy, which entrust the platform with their substantial bitcoin holdings. Blackrock utilizes Coinbase Prime to secure BTC in its Ishares Bitcoin Trust (IBIT) ETF, while Strategy also relies on Coinbase for the custody of its bitcoin reserves. This underscores Coinbase's significance in institutional-grade asset protection.

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📈 Bitcoin ETFs Surge Back with $408 Million Inflow

💪 Bitcoin exchange-traded funds (ETFs) made a strong comeback with a net inflow of $408 million on July 2, reversing the previous day's outflow. This rebound highlights increased investor confidence in the market. Fidelity’s FBTC led the inflows with $183.96 million, followed by Ark 21Shares’ ARKB with $83 million and Bitwise’s BITB adding $64.94 million. Other contributors included Grayscale’s GBTC ($34.56 million), Bitcoin Mini Trust ($16.53 million), and several others, bringing the total traded value to $5.22 billion and net assets to $136.68 billion.

📉 In contrast, ether ETFs experienced a slight dip with a minor outflow of $1.82 million. Despite positive inflows from Fidelity’s FETH ($25.80 million), Bitwise’s ETHW ($8.33 million), and others, a significant outflow from Blackrock’s ETHA ($46.89 million) pulled the segment into negative territory. The total value traded for ether ETFs remained stable at $832.10 million with net assets at $10.69 billion.

🔄 Overall, Bitcoin ETFs have clearly recovered from recent setbacks, while ether ETFs show resilience but may require closer management to sustain their growth.

🟢 XRP Market Analysis: July 5, 2025

📈 On July 5, XRP is trading at $2.22 with a market cap of $131 billion and a 24-hour trading volume of $1.33 billion. The asset has shown low volatility recently, trading within a narrow range of $2.20 to $2.24 for the day and $2.17 to $2.30 for the week.

🔄 The 1-hour chart indicates a consolidation phase for XRP, with prices fluctuating between $2.196 and $2.26. This horizontal movement suggests a potential breakout soon. Traders might consider scalping strategies by buying near $2.20 and selling near $2.26. A breakout above $2.26 would signal bullish momentum, while a drop below $2.196 could lead to a bearish trend.

⚠️ The 4-hour chart presents a more cautious view. XRP is showing signs of short-term weakness and forming a rounded top pattern between $2.147 and $2.327. Increased selling pressure and declining volume suggest buyer fatigue. For directional trades, a move above $2.26–$2.28 with confirmed volume would support a long entry. Conversely, a breakdown below $2.21 with rising sell volume could validate a short setup targeting the $2.15–$2.18 zone.

📊 Despite the short-term consolidation, the daily chart remains structurally bullish. After a downtrend in mid-June, XRP rebounded from a local low of $1.908 and stabilized above $2.20. Bullish engulfing candles near the $1.90–$2.00 support region indicate buying interest. Resistance is forming at $2.30–$2.34; a break above this level may lead to retests of $2.34 and higher, depending on volume confirmation.

⚖️ Oscillators across multiple time frames show neutrality, indicating market indecision. The Relative Strength Index (RSI) is at 52.45, and the Average Directional Index (ADX) reads 12.50, confirming a weak trend. While the Awesome Oscillator remains neutral, the Momentum indicator signals a buy, as does the Moving Average Convergence Divergence (MACD) level. However, the Stochastic Relative Strength Index indicates an overbought condition, suggesting possible short-term exhaustion.

📉 Moving averages present a mixed picture. Short-term averages signal bullish actions, while longer-term indicators show mixed signals. This divergence suggests that while short-to-mid-term momentum favors bulls, broader resistance levels should be monitored closely.

✅ Bull Verdict: XRP maintains a bullish structure on the daily chart, supported by positive momentum indicators. A breakout above the $2.30 resistance zone could propel the asset toward $2.34 and potentially higher.

❌ Bear Verdict: Despite macro strength, signs of fading volume and overbought oscillators raise caution. A decisive breakdown below $2.20 could signal a short-term reversal toward $2.15, exposing XRP to further downside risk.

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🌍 BBVA Launches Cryptocurrency Services for Retail Customers in Spain

💱 Banco Bilbao Vizcaya Argentaria (BBVA) has recently introduced a cryptocurrency trading and custody service for retail customers in Spain. This new feature, which is fully integrated into the BBVA mobile app, allows users of legal age to buy, sell, and hold bitcoin and ether directly from their mobile devices. A company representative emphasized the bank's commitment to providing a seamless digital experience for its customers.

🛡 The service is entirely client-initiated, meaning that no investment advice is offered by the bank. This approach aligns with emerging EU regulations, specifically the European Regulation on Markets in Crypto-Assets (MiCA), which governs the provision of crypto-asset services within the European Union and aims to protect investors. BBVA stated,

The initiative is aligned with the European Regulation on Markets in Crypto-Assets (MiCA),

highlighting the importance of maintaining investor protections while engaging with the crypto market.

🌐 This launch in Spain follows BBVA's previous expansions into digital assets in Switzerland in 2021 and Turkey in 2023, broadening access from private clients to a wider retail user base. The bank's decade-long investment in blockchain infrastructure has supported this growth. BBVA began offering crypto services to high-net-worth clients in Switzerland before adding ether and stablecoins like USDC. Its Turkish division has also implemented a comprehensive crypto offering.

📈 Francisco Maroto, BBVA’s head of digital assets, stated,

Following this launch in Spain, BBVA has added another country to its digital assets service… Our aim is to offer the best investment and transaction-based solutions to our customers.

This launch reflects BBVA’s ongoing focus on digital transformation while striving to manage risks through a regulated framework.

🌐 DePINs: A Game Changer for Telecom Coverage and Consumer Trust

📈 The decentralized physical infrastructure network (DePIN) market is projected to reach a staggering $3.5 trillion by 2028, up from its current estimated value of $30 billion to $50 billion. This growth is largely driven by the rise of decentralized physical artificial intelligence (DePAI), which represents a "fundamental shift" in how AI interacts with physical infrastructure. Unlike traditional models, DePAI utilizes community-owned networks where users contribute to machine learning, eliminating the bottleneck of centralized datasets.

🌍 World Mobile, a leading DePIN, has made significant progress in Africa and Asia and is now set for an accelerated rollout in the U.S. The company's recent data shows promising growth dynamics, surpassing the 40,000 airnodes threshold and experiencing a nearly 4,000% increase in total revenue to $7.2 million. Mickey Watkins, founder and CEO of World Mobile, emphasized the company's mission to address "blackspots" in telecommunications coverage, stating,

The so-called mature U.S. telco market still leaves over 11% of the country completely unconnected.

📉 Consumer trust in major U.S. carriers like Verizon, AT&T, and T-Mobile is declining. A recent report revealed that Verizon experienced its "worst result on record" with a net loss of 289,000 postpaid phone customers. Meanwhile, cable companies and Mobile Virtual Network Operators (MVNOs) like Spectrum and Comcast are gaining ground by attracting more new phone customers than the three major carriers combined. This shift indicates that consumers are not just switching between traditional carriers but are increasingly looking for alternatives outside the conventional model.

💰 Watkins highlighted the economic pressures driving this trend. He noted that "people want new ways to earn" and pointed to the success of the sharing economy with platforms like Uber and Airbnb. World Mobile's AirNode operation aligns with this mindset by allowing individuals to monetize their connectivity. Watkins stated,

If you can earn from your spare room or your car, why not your connectivity?

🔄 World Mobile is accelerating its rollout in the U.S. due to favorable conditions for DePIN. Watkins explained that "people want privacy, ownership, and new income streams" and that the company is making this possible. He also discussed the earthnode buyback program designed to benefit the community by using a portion of the network's revenue to repurchase World Mobile Tokens (WMTx) from the market. This program, which began in May 2023, ensures fairness and transparency through random intervals for subsequent buybacks.

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💰 Bit Digital Shifts Focus to Ethereum with $67.3 Million Share Offering

🔄 Bit Digital (Nasdaq: BTBT) is making a significant shift towards Ethereum by announcing a direct share offering of $67.3 million, with the proceeds earmarked for further ETH purchases. This move comes as part of the company's strategic pivot away from Bitcoin.

🤝 On Monday, Bit Digital entered into a placement agency agreement with B. Riley Securities to sell 22 million ordinary shares at $3.06 each to select institutional investors. The transaction is expected to close around July 15, pending customary closing conditions.

📈 This is Bit Digital's second capital raise focused on ETH in less than a month. In late June, the company raised $172 million through a public offering of 75 million shares at $2.00 per share, with similar intentions for Ethereum acquisitions.

🔄 Earlier this month, Bit Digital announced a complete transition to an Ethereum-based treasury strategy. This included converting 280 BTC from its balance sheet into ETH and using funds from a previous offering to increase its holdings. As a result, the company's ETH reserves have grown to 100,603 ETH.

🚫 Bit Digital has also revealed plans to wind down its Bitcoin mining operations and reposition itself around Ethereum staking and treasury management. Following the announcement of its full treasury pivot last week, shares of Bit Digital surged by 25%, although they dipped slightly by 1.2% on Monday after the latest capital raise announcement.

🚨 IMF Report: El Salvador's Chivo Wallet Breaches Bitcoin Non-Accumulation Agreement

📰 The International Monetary Fund (IMF) has issued a report highlighting El Salvador's non-compliance with the bitcoin non-accumulation quotas set in its $1.4 billion credit facility deal approved in February. The report points to the Chivo Wallet, the government's official bitcoin wallet, as the primary reason for this breach.

📉 According to the IMF,

Fluctuations in Chivo clients’ deposits denominated in bitcoin and Chivo’s liquidity management policy, which does not adjust to such fluctuations, led to minor breaches in conditionality.

This means that when Chivo Wallet users sell their bitcoin liquidity, the wallet does not sell the actual cryptocurrency, resulting in an increase in bitcoin ownership by the Salvadoran public sector.

🔍 The IMF monitors these disruptions by using signed statements for all hot and cold wallet addresses and their balances, along with a tool to detect daily changes in Chivo Wallet deposits. The report notes that

Corrective actions have been taken to establish a sufficient buffer to mitigate the risk of future breaches prior to the planned sale of Chivo.

📅 El Salvador's authorities have already announced a plan to unwind and/or sell Chivo Wallet this month, along with liquidating Fidebitcoin, a government-created fund for BTC-USD exchange operations. Interestingly, the IMF report does not mention the ongoing bitcoin accumulation program by the Salvadoran government, which has allowed the Bukele administration to continue purchasing bitcoin without impacting the deal.

💰 As of now, the National Bitcoin Office (ONBTC) of El Salvador reports that the nation holds over 6,239 BTC valued at over $740 million.

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🚀 Sequans Communications Expands Bitcoin Holdings

💰 Sequans Communications S.A., a Paris-based IoT semiconductor firm, has recently acquired an additional 1,264 BTC for approximately $150 million. This purchase, made at an average price of $118,659 per coin, brings the company's total bitcoin holdings to 2,317 BTC, valued at around $270 million based on acquisition cost.

📈 This move solidifies Sequans' position as a leading corporate adopter of bitcoin, alongside other notable firms like Strategy and Metaplanet. The company's average purchase price now stands at $116,493 per bitcoin.

💼 Sequans takes a unique approach to funding its BTC purchases, utilizing a combination of equity and debt financing, along with cash from operations and IP monetization. The company views bitcoin not only as a reserve asset but also as a long-term strategic hedge and store of value.

💰 XRP Ledger Revolutionizes Brazil's Private Credit Markets

🌐 Brazil is experiencing a significant transformation in its private credit markets with the introduction of a blockchain-backed infrastructure powered by the XRP Ledger. On July 23, VERT, a securitization and fund management firm, launched a platform designed to streamline private credit workflows. This innovative system records essential transactions and events on-chain, aiming to enhance the speed, security, and transparency of Brazil's capital markets through tokenized digital records.

💵 The platform's inaugural issuance was a BRL 700 million (approximately $130 million) Agribusiness Receivables Certificate (CRA), crucial for funding Brazil's agriculture sector. This transaction not only tokenized cash flows related to agricultural production but also set a precedent for near real-time transparency and traceability. Gabriel Braga, VERT’s Director of Digital Assets, emphasized the importance of detailed event recording for ensuring traceability and transparency.

🔗 Additionally, the solution incorporates the XRPL EVM Sidechain, which provides Ethereum-compatible smart contract functionality for automation and detailed reporting. Silvio Pegado, Ripple’s Managing Director for LATAM, highlighted the broader economic implications, stating that this milestone showcases how blockchain technology can modernize financial markets essential for national growth.

📈 With over $500 million in upcoming operations, VERT aims to expand the platform across various asset classes while adhering to Brazil’s regulatory framework. Proponents believe that tokenized structured credit could play a pivotal role in modernizing capital markets and attracting foreign institutional participation.

🏦 Bitgo Expands into Brazil's Crypto Market

🌍 Bitgo, a U.S.-based cryptocurrency custody provider, has announced the opening of a local office in Brazil to target banks entering the cryptocurrency sector. The company aims to acquire customers from the banking industry and will offer insurance options for clients using their own solutions.

🗣 Luis Ayala, Bitgo’s director for Latam, emphasized the importance of local presence due to unclear cryptocurrency regulations in Brazil. He stated,

We wanted to be a more local player, accepting payments in reais and having invoices directly in the country.

🤝 Rather than competing with banks, Bitgo seeks to integrate into their business models by providing complementary solutions. Ayala explained,

Our process also includes insurance for banks’ local custody operations. We don’t want to compete with these banks’ custody market, but we want to be partners to help them do this clearly and securely.

🌐 Bitgo already operates in Brazil with over 25 customers and has custody services in various locations including South Dakota, New York, Germany, Denmark, Switzerland, Dubai, and Singapore. The company will also offer crypto-centric solutions for exchanges and other crypto-first companies, such as staking.

⚖️ Bitgo's local offerings provide an alternative to similar services from Fireblocks, an Israeli company also operating in Brazil, which is currently preparing for a public listing.