Market
Will Filecoin’s Waffle Upgrade Trigger a Rebound for FIL Price?

Like other altcoins, Filecoin (FIL) faces intense volatility following the wider market collapse. The latest data from several price tracking platforms shows that FIL’s price has decreased by a staggering 16.38% in the last 24 hours.
This decline leaves investors at the mercy of uncertainty despite a promising development slated for Tuesday, August 6. Here is what could be in line for the cryptocurrency.
Traders Overlook Filecoin’s Upgrade, Choose to Follow the Money
At press time, FIL trades at $3.03 — the lowest value the token has reached in more than ten months. Despite the notable downswing, Santiment shows that the Funding Rate has turned negative.
Funding Rate gives insights into traders’ expectations. When the ratio is positive, it means the perpetual price is trading at a premium to the spot price, also indicating that traders are betting on a price increase.
However, negative funding signifies that traders anticipate a further price decrease while noting an increase in short contracts. Therefore, Filecoin’s Funding Rate reveals that market participants do not plan to countertrade the current price movement despite doing that since the month began.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Meanwhile, the actions of these traders have not affected the perception the broader market has about FIL. According to Santiment, the Weighted Sentiment has risen into the positive region.
Weighted Sentiment measures social volume regarding an asset expressed in a positive or negative manner.
Anytime the reading is in a positive region, the average comment about a cryptocurrency tilts toward optimism. Conversely, a negative reading implies that otherwise.

This optimism could be linked to Filecoin’s Waffle upgrade, which is slated for August 6. Codenamed NV23, the upgrade aims to enhance compatibility with the Ethereum ecosystem and reduce the time taken for transaction confirmation.
FIL Price Prediction: More Bears, No Bulls
In July, FIL consistently registered daily green candlesticks that took the price from $3.47 to $4.80. With all of those gains erased, traders will be wondering if the altcoin could be set for a rebound.
As shown in the chart below, bulls are clearly out of the picture, as indicated by the Bull Bear Power (BBP), as it is fondly called. The BBP establishes the relationship between bulls’ and bears’ strength.
Bulls (buyers) are stronger when the BB rises in the positive region. However, at press time, the BBP is in the negative region, suggesting that bears are dominating. If this continues, FIL’s price risk drops below $3 and could decline to $2.87.
Read more: Filecoin (FIL) price prediction 2024/2025/2030

However, if buying pressure begins to gain momentum, the value of FIL may increase. If this happens, the price may rise toward $3.56.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
PI Token Price Faces Bearish Pressure, Risking a Drop to $0.40

PI has been on a steady downtrend since February 26, shedding 72% of its value as bearish sentiment continues to weigh on the token.
Bearish pressure continues to mount on the PI token, suggesting that it may be poised to enter a new phase of decline.
PI Network Risks Fresh Decline
An assessment of the PI/USD one-day chart reveals that token holders remain steadfast in their distribution. At press time, PI’s Balance of Power (BoP) is negative, reflecting the selling pressure in the market.

The BoP indicator measures the strength of buying versus selling pressure by comparing the close price to the trading range within a given period. When BOP is negative like this, it indicates that sellers are dominating the market, suggesting downward pressure on the asset’s price.
Further, the setup of PI’s Chaikin Money Flow (CMF) supports this bearish outlook. At press time, this is below the central line at -0.12.

The CMF indicator measures an asset’s buying and selling pressure. A negative CMF reading suggests that the asset is experiencing more selling pressure than buying pressure. This means PI traders are distributing rather than accumulating. This signals bearish sentiment and confirms the downward momentum in the token’s price.
Sellers Tighten Grip on PI, But Recovery to $1.01 Still on the Table
At press time, PI trades at $0.63, below the dynamic support formed above it at $0.93 by its Super Trend indicator.
The Super Trend indicator helps traders identify the market’s direction by placing a line above or below the price chart based on the asset’s volatility.
When an asset’s price trades below the Super Trend line like this, it signals a bearish trend and hints at potential decline. If PI’s decline strengthens, it could revisit its all-time low of $0.40.

However, if demand returns to the PI market, its price could break above the resistance at $0.86 and surge to $1.01.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Circle, BitGo, and Others Eye Bank Charters in US

With support from Trump’s White House and easing regulations, firms like Circle and BitGo are pursuing becoming full-fledged financial institutions.
Reports indicate a new wave of crypto companies knocking on the once-closed doors of the American banking system. This time, someone is listening.
Crypto Firms Seek Bank Charters as Wall Street’s Doors Reopen
After years of being sidelined, crypto companies are coming back, this time through the front door of the US banking system.
Citing sources familiar with the matter, the Wall Street Journal revealed that several major players, including Circle and BitGo, are preparing to apply for bank charters or financial licenses.
Traditional banks are also responding to the shift. US Bancorp is re-launching its crypto custody program via NYDIG, while Bank of America (BofA) said it would issue its stablecoin once the legal framework is in place.
Even global giants are watching closely. A consortium including Deutsche Bank and Standard Chartered is evaluating how to expand crypto operations into the US.
While details remain scarce, the interest signals that crypto is no longer just a niche but a competitive frontier.
These firms reportedly aim to operate with the same legitimacy and access as traditional lenders. This includes holding deposits, issuing loans, and launching stablecoins under regulatory supervision.
The timing is not random. A sharp pivot in federal policy, driven by President Trump’s pledge to make the US a Bitcoin superpower, has reopened regulatory pathways once shut after the FTX collapse.
In parallel, Congress is advancing stablecoin legislation requiring issuers to secure federal or state licenses.
The push for bank status comes amid a broader effort to legitimize crypto within US finance. Earlier this year, regulators rolled back key restrictions. Among them, the SEC’s controversial SAB 121, which had blocked banks from holding crypto on behalf of clients.
Meanwhile, Federal Reserve (Fed) Chair Jerome Powell affirmed that banks could serve crypto customers provided proper risk management strategies exist.
In another regulatory green light, the Office of the Comptroller of the Currency (OCC) clarified that banks can offer stablecoin and custody services. However, this is provided they comply with established banking rules.
These signals have emboldened crypto firms previously kept at arm’s length. Anchorage Digital, the only US crypto-native firm with a federal bank charter, says the regulatory lift is massive but worth it.
“It hasn’t been easy… the whole gamut of regulatory and compliance obligations that banks have can be intertwined with the crypto industry,” Anchorage CEO Nathan McCauley reportedly admitted.
McCauley cited tens of millions in compliance costs. Nevertheless, Anchorage has since collaborated with BlackRock, Cantor Fitzgerald, and Copper for high-profile custody and lending programs.
BitGo, which will reportedly custody reserves for Trump-linked stablecoin USD1, is nearing a bank charter application.
Circle, the issuer of USDC, is also pursuing licenses while fending off competition, just like Tether. This is a traditional finance (TradFi) venture into stablecoins.
The firm delayed its IPO this month, citing market turmoil and financial uncertainty. However, insiders say regulatory clarity remains a top priority.
Firms like Coinbase and Paxos are exploring similar routes, considering industrial banks or trust charters to expand their financial offerings legally.
At the policy level, venture firm a16z has called on the SEC to modernize crypto custody rules for investment firms, reflecting the industry’s hunger for clarity and parity.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
BNB Springs Back From $531 With Unshaken Bullish Conviction

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.
My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.
I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.
When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.
Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.
My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.
Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.
One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.
I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.
I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.
I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.
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