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ETH ETF, Token Unlocks, and More

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This week, major news and developments have captured the attention of both crypto investors and enthusiasts alike.

From the growing optimism surrounding the Ethereum ETF launch to the significant token unlock by Arbitrum, the crypto scene is buzzing with activity.

Ethereum ETF Approval Imminent: Industry Buzz and Predictions

Analysts and industry leaders have expressed their enthusiasm for the imminent approval of spot Ethereum (ETH) exchange-traded funds (ETFs). Nate Geraci, president of ETF Store, recently shared his optimism on social media, stating that the approval of these ETFs is expected this week. He cites no “good reason for any further delay at this point.”

Matt Hougan, Bitwise’s Chief Investment Officer, echoes this sentiment. He highlighted the minimal amendments required in the latest filings and indicated a closer approach to the approval finish line.

Read more: Ethereum ETF Explained: What It Is and How It Works

Experts believe that the launch of a spot Ethereum ETF could positively impact ETH’s price action and the broader crypto industry. Sami Start, Co-founder and CEO of Transak, explained that the spot Ethereum ETF could further legitimize digital assets and spur the adoption of decentralized technologies and tokenized assets.

“It’s more instructive to look within the Ethereum ecosystem itself and consider the opportunities that exist there. […] ETH is the native currency of dozens of interconnected L2s and is the trading pair against all of the ERC-20 assets it supports. […] And, it’s likely to be here that we see the first institutional exploration of decentralized technology as bolder players move beyond the constraints of the centralized ETF model,” Start elaborated to BeInCrypto.

XDEFI Wallet Rebranding Generates Excitement

On July 12, non-custodial Web3 wallet XDEFI hinted on its X (Twitter) account that it would reveal more details about its rebranding plan this week. Earlier in June, Emile Dubié, CEO and co-founder of XDEFI, announced that the team had started redesigning the wallet, investing significantly in their design system. Dubié emphasized the importance of a well-defined design system for consistency and a cohesive user experience.

“We acquired 230,000+ users without an airdrop or a points system. Our UX/UI has been lagging behind as we were focused on adding chains. We’ve been working on a very different interface since early last year. It’s coming together nicely; the new version is what self-custody should look like. Everything was built based on years of feedback,” he explained.

Many crypto community members expressed their enthusiasm for the upcoming XDEFI iteration. This excitement is evident in XDEFI’s native token, which increased by 7.43% over the last 24 hours. At the time of writing, it is currently trading at $0.072617.

XDEFI Price Performance.
XDEFI Price Performance. Source: BeInCrypto

Cosmos v18 Upgrade to Introduce Permissioned CosmWasm

Layer-0 blockchain Cosmos announced on June 20 that its v18 upgrade will be released mid-July. This upgrade will introduce permissioned CosmWasm to the Cosmos Hub. It will also enhance ATOM’s functionality, utility, and cross-chain composability.

“This update will bring new capabilities to the Hub, enhancing ATOM’s functionality, utility, and cross-chain composability,” the team stated.

Permissioned CosmWasm requires each contract to be reviewed and approved by governance, ensuring added security and quality control. This approach minimizes the risks of potential exploits and discourages spam or wasteful contracts. By governance-gating each contract, Cosmos Hub aims to ensure that only well-vetted, purposeful contracts are implemented.

The goal is not to compete with AEZ chains like Neutron but to leverage CosmWasm for tasks that are difficult or impractical through other means. This addition will enhance the Hub’s ability to handle complex functionalities efficiently. Permissioned CosmWasm on the Cosmos Hub is a step towards a more secure, efficient, and capable ecosystem.

Sanctum’s Native Token CLOUD to Launch on Jupiter Launchpad

On July 10, Sanctum, a Solana-based liquid staking platform, announced its plan to launch its native token CLOUD on the decentralized exchange (DEX) Jupiter launchpad on July 18. On July 16 at 15:30 UTC, a special edition of the Planetary Call, called “Liftoff” with Jupiter, will provide additional information about the launch. After these, on July 19, Sanctum will host a CLOUD party.

CLOUD Token Launch Timeline.
CLOUD Token Launch Timeline. Source: X/sanctumso

The total supply of CLOUD is 1 billion tokens. According to Sanctum, 18% of the total supply will be allocated to the issuance. The team will distribute 10% of the supply through the initial airdrop, while 8% will be used to provide liquidity in the LFG launch pool.

The token will facilitate the management of capital and control, enabling holders to shape decisions related to the platform’s direction and resource management. In order to qualify for the Sanctum Verified Partner program, participants will need to stake CLOUD, with CLOUD holders casting votes to decide on the acceptance of partners.

Radiant Capital Announces v3 Launch and Expansion to Base

On June 27, Radiant Capital, a decentralized finance (DeFi) platform that builds the first omnichain money market atop LayerZero, announced that it is in the final stretch for the launch of its v3. The platform also revealed its plan expansion to Base, Coinbase’s layer-2.

According to the team, Radiant v3 and the expansion to Base will happen in July. However, they have not yet specified the exact date of these events.

Radiant also announced its integration with Stargate v2, allowing seamless lending and borrowing of assets cross-chain with low fees. Security remains a cornerstone for Radiant, with audits by OpenZeppelin and BlockSecTeam, monitoring by HypernativeLabs and Chainalysis, and comprehensive risk management measures in place.

Arbitrum and Other Major Token Unlocks This Week

This week will witness several token unlocks. On July 16, Arbitrum will unlock 92.6 million ARB tokens worth approximately $66 million at the current market price. These unlocked tokens will go to its team, advisors, and investors.

Read more: Arbitrum (ARB) Price Prediction 2024/2025/2035

Arbitrum token unlock
ARB Token Unlock. Source: token.unlocks

Other projects, including Axie Infinity (AXS) and ApeCoin (APE), will also unlock their tokens this week. This increase in token releases could affect the prices of these cryptocurrencies. Read this article for further detailed information on major crypto token unlocks this week.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Jumps 4% as Bullish Signals Emerge

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Cardano (ADA) is up 4% on Monday, trying to hit $0.65, showing signs of renewed bullish momentum. Technical indicators are beginning to align in favor of buyers, with the BBTrend turning positive for the first time in days and the DMI signaling strengthening upward pressure.

ADA is also nearing a potential golden cross formation on its EMA lines, which could further support a breakout if resistance levels are cleared. With momentum building and key levels in sight, Cardano is entering a critical zone that could define its short-term direction.

Cardano Shows Early Signs of Recovery as BBTrend Turns Positive

Cardano BBTrend has just flipped back into positive territory at 0.11, following four straight days in the negative zone. This shift, though subtle, may be the first sign of momentum stabilizing after recent weakness.

BBTrend, or Bollinger Band Trend, is a technical indicator that gauges the strength and direction of a trend based on how wide or narrow the Bollinger Bands are.

When the bands begin to expand and BBTrend moves into positive values, it often suggests growing volatility in favor of an emerging bullish trend. On the other hand, prolonged negative readings typically signal fading momentum and a lack of directional strength.

ADA BBTrend.
ADA BBTrend. Source: TradingView.

While a BBTrend of 0.11 is still low and not yet signaling a strong uptrend, the fact that it turned positive marks a potential inflection point.

It suggests that selling pressure may be fading and the price could be entering a recovery phase if buying activity increases. This early uptick in BBTrend often precedes a broader move.

Traders will likely be watching closely to see if this positive shift is sustained in the coming sessions, as continued gains in BBTrend could indicate the beginning of a more defined upward move for ADA.

Cardano Buyers Regain Control as Uptrend Shows Early Strength

Cardano Directional Movement Index (DMI) is showing a notable shift in momentum, with its Average Directional Index (ADX) climbing to 17.79, up from 13.77 yesterday.

The ADX measures the strength of a trend, regardless of its direction, on a scale from 0 to 100. Values below 20 suggest a weak or non-existent trend, while readings above 25 typically confirm that a trend is gaining strength.

ADA’s ADX is still below the 20 threshold but rising steadily—indicating that momentum is building and a stronger directional move could soon take shape.

ADA DMI.
ADA DMI. Source: TradingView.

Looking deeper, the +DI (positive directional indicator) has jumped to 26.38 from 16.30 just a day ago, signaling increased buying pressure. Although it has slightly pulled back from an earlier peak at 29.57, it remains firmly above the -DI (negative directional indicator), which has dropped significantly from 22.72 to 13.73.

This widening gap between the +DI and -DI suggests a clear shift in favor of bulls, with buyers regaining control after a brief period of selling pressure.

If the ADX continues to rise alongside a dominant +DI, it could confirm a strengthening uptrend for Cardano.

Cardano Nears Golden Cross as Bulls Eye Breakout—but Key Support Still in Play

Cardano price is approaching a potentially bullish technical development, as its EMA lines suggest a golden cross may form in the coming sessions.

A golden cross occurs when the short-term moving average crosses above the long-term moving average, often signaling the start of a stronger uptrend.

If this crossover is confirmed and ADA manages to break above the resistance at $0.668, the next upside targets sit at $0.709 and $0.77—levels not seen since late March.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView.

However, if ADA fails to maintain its upward trajectory and the momentum fades, downside risks remain in play.

A drop back toward the $0.594 support would be the first sign of weakness, and a breakdown below that level could expose the asset to deeper losses, with $0.511 as the next key support zone.

Price action around the $0.668 resistance will likely be the deciding factor.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin ETFs Dominate Market Despite 72 Altcoin Proposals

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As the SEC is signaling its willingness to approve new altcoin ETFs, 72 active proposals are awaiting a nod. Despite the growing interest from asset managers to launch more altcoin-based products in the institutional market, Bitcoin ETFs currently command 90% of crypto fund assets worldwide.

New listings can attract inflows and liquidity in these tokens, as demonstrated by Ethereum’s approval of ETF options. Still, given the current market interest, it’s highly unlikely that any crypto found will replicate Bitcoin’s runaway success in the ETF market

Bitcoin Dominates the ETF Market

Bitcoin ETFs dramatically changed the global digital assets market over the past month, and they are performing quite well at the moment. In the US, total net assets have reached $94.5 billion, despite continuous outflows in the past few months.

Their impressive early success opened a new market for crypto-related assets, and issuers have been flooding the SEC with new applications since.

This flood has been so intense that there are currently 72 active proposals for the SEC’s consideration:

“There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x MELANIA and everything in between. Gonna be a wild year,” claimed ETF analyst Eric Balchunas.

The US regulatory environment has become much friendlier toward crypto, and the SEC is signaling its willingness to approve new products. Many ETF issuers are attempting to seize the opportunity to create a product as successful as Bitcoin.

However, Bitcoin has a sizable head start, and it’s difficult to imagine any newcomer disrupting its 90% market share.

Bitcoin Represents 90% of Global Crypto ETF Investment
Bitcoin Represents 90% of Global Crypto ETF Investment. Source: Eric Balchunas

To put that into perspective, BlackRock’s Bitcoin ETF was declared “the greatest launch in ETF history.” Any new altcoin product would need a significant value-add to encroach upon Bitcoin’s position.

Recent products like Ethereum ETF options have attracted fresh liquidity. Yet, Bitcoin’s dominance in the institutional market remains unchanged.

Of these 72 proposals, only 23 refer to altcoins other than Solana, XRP, or Litecoin, and many more concern new derivatives on existing ETFs.

Some analysts claim that these products, taken together, couldn’t displace more than 5-10% of Bitcoin’s ETF market dominance. If an event significantly disrupted Bitcoin, it would also impact the rest of crypto.

Still, that doesn’t mean that the altcoins ETFs are a futile endeavor. These products have continually created new inflows and interest in their underlying assets, especially with issuers acquiring token stockpiles.

However, it’s important to be realistic. While XRP and Solana ETF approvals could drive new bullish cycles for the altcoin market, Bitcoin will likely dominate the ETF market by a large margin — given its widespread recognition as a ‘store of value’.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Coinbase Lists RSR, Atkins Association Fuels Bullishness

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Coinbase is listing Reserve Rights (RSR), a dual‑token stablecoin platform aimed at creating a collateral‑backed, self‑regulating stablecoin ecosystem. Following the announcement, Binance’s ‘smart money’ traders are increasing long positions on the altcoin.

Incoming SEC Chair Paul Atkins was an early advisor for RSR, but he doesn’t maintain any active connection to the project. Nonetheless, RSR speculators may be anticipating some benefits from this old association.

Coinbase Lists RSR To New Enthusiasm

RSR has been active since 2019, aiming to upend the stablecoin ecosystem. It’s an ERC‑20 utility and governance token that underpins the Reserve Protocol, a dual‑token system designed to back and stabilize the Reserve stablecoin (RSV) at a $1 USD peg. RSR, a non-stablecoin, provides governance and backstop insurance to its counterpart.

The asset’s valuation peaked in 2021 but has been quiet since then until regaining prominence in 2024. Today’s Coinbase listing announcement saw RSR jump nearly 10%.

reserve rights (RSR) daily price chart
Figure: Reserve Rights (RSR) Daily Price Chart. Source: CoinGecko

Coinbase first announced that it would list RSR a little under three weeks ago. Coinbase listings usually cause the underlying tokens to spike, and this has been no exception.

However, an intriguing side effect has also taken place. As the asset prepares its debut on Coinbase, top traders on Binance are showing a strong bullish positioning.

Binance Top Traders Go Long on RSR
Binance Top Traders Go Long on RSR. Source: Coinglass

On Binance, the top‑trader long/short ratio measures the share of total open positions held as longs by the top 20% of accounts by margin balance. A 65.48% long ratio means these “smart money” participants are overwhelmingly betting prices will rise.

Meanwhile, beyond Coinbase listing, RSR is getting attention due to its link with incoming SEC Chair Paul Atkins. Although Atkins disclosed his crypto investments and has no current link with RSR, he joined the Reserve Rights Foundation as an advisor in its early stages.

Since Atkins succeeded in his confirmation hearing, RSR posted an impressive 22% rally. Technically, he hasn’t been seated as Chair yet, but traders are evidently expecting bullish developments.

Atkins has promised to bring crypto-friendly reform, and this connection could disproportionately impact his former associates.

That isn’t to say that anyone has alleged that Atkins will engage in corruption to unfairly boost RSR. However, since becoming President, members of Trump’s family have been involved in several controversial crypto deals. This precedent may be encouraging traders to believe in the importance of political connections.

For now, market narratives are very important in this industry. As Atkins officially begins his career as the SEC’s new Chair, RSR may continue to receive indirect benefits.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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