News & Research

The Algorand (ALGO) Foundation has unveiled a roadmap to transition its blockchain to a quantum-resistant structure by the end of next year, CoinDesk reported. According to the plan, a series of upgrades will be implemented starting this year, including the introduction of post-quantum accounts, multi-sig wallets, and staking support. A subsequent phase will involve upgrading the network's fundamental core structure.

Canadian Bitcoin mining firm DMG Blockchain Solutions announced it mined a total of 22 BTC in May. As of the end of the month, the company held 393 BTC, a net increase of four BTC from the previous month.

U.S. initial jobless claims for the week ending June 13 totaled 226,000, slightly above the market forecast of 225,000.

Crypto analyst CryptoCapo, who has around 993,000 followers on X, said he expects the overall cryptocurrency market to be bullish this summer. He added that he sees high potential for a rise in altcoins and is continuously accumulating them. CryptoCapo noted that altcoins have led the market in recent months, particularly over the past few weeks, posting higher gains than Bitcoin. However, he believes they have now entered a short-term resistance zone. While he anticipates a strong summer for altcoins, he cautioned against expecting an immediate rally, emphasizing that patience is needed at this stage.

According to InfiniteMarketCap, which tracks the market capitalization of major global assets and companies, SK Hynix's stock rose approximately 6.51% today, bringing its market cap to $1.24 trillion and surpassing Micron's $1.18 trillion. This pushed SK Hynix to 16th in global market cap rankings, closely trailing Bitcoin (BTC), which has a market cap of $1.28 trillion. The current market cap gap between SK Hynix and Bitcoin is about 3.4%. Meanwhile, Samsung Electronics' stock increased by 4.62% today, overtaking Tesla's market cap to secure the 13th position globally.

Citigroup has delayed its forecast for the first Federal Reserve rate cut to October from its previous expectation of September, Reuters reported. The bank cited a strengthening hawkish stance from the Fed since Kevin Warsh took office as Fed Chair. Citi now anticipates subsequent rate cuts in December and January 2027. The report notes that the latest Fed dot plot indicated nine of the 19 committee members are leaning toward a potential rate hike this year.

Real-world asset (RWA) tokenization protocol Multipli announced on June 18 that it has secured an investment from Coinbase Ventures' Base Ecosystem Fund. The specific investment amount was not disclosed.

Crypto analyst Ali Martinez has suggested that Bitcoin could target $69,000 if it successfully defends the $64,000 support level. Sharing a 60-minute chart, Martinez noted that BTC is currently showing short-term strength by maintaining an ascending channel, with its lower support line situated around $64,000. He added that if this channel holds, the next targets could be the channel's midline at $66,800 and its upper resistance line at $68,800. According to CoinMarketCap, BTC is currently trading at $64,234.82, down 1.09%.

India's Financial Intelligence Unit (FIU-IND) is investigating large-scale transactions conducted through the over-the-counter (OTC) desks of cryptocurrency exchanges, local media outlet the Economic Times reported. According to the report, OTC trading is frequently used by unlisted corporations because the structure—where a platform buys coins with its own funds before finding a counterparty—makes it difficult to trace ultimate beneficial owners (UBOs). The risk is compounded as large clients often prefer to move purchased coins to private, external wallets, from which the assets can be transferred anywhere globally, complicating tracking efforts. Verifying the management and UBOs of these private entities is more complex than for individual customers. A government official noted that exchanges have been required to preserve OTC trading records since January. The FIU can request this data if Suspicious Transaction Reports (STRs) are deemed insufficient or if law enforcement agencies require additional information for an investigation.

The amount of Bitcoin held by addresses with at least one BTC has surpassed 16.8 million BTC, reaching an all-time high, according to on-chain analyst Darkfost. In a post on X, the analyst noted that this investor group has continued to accumulate BTC despite recent price declines, suggesting this could be a sign of Bitcoin's ongoing institutionalization. Darkfost added that on-chain data also shows holdings by retail investor groups are increasing again, indicating that both institutional and retail investors seem to view the current market as a suitable period for accumulation.