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The premium on Tether (USDT) in India has surpassed 8.5% amid a deepening supply shortage, The Economic Times reported. This premium, which typically hovers between 3% and 4%, surged after India's Enforcement Directorate (ED) cracked down on overseas remittance companies using the stablecoin. On Saturday, the local price of USDT in India reached 102.88 rupees, significantly above the official dollar-rupee exchange rate of 94.65. USDT has been a popular remittance method for Indians living abroad, offering a faster and cheaper alternative to traditional banking. However, the ED has intensified its crackdown, arguing that cross-border transfers via cryptocurrency violate the Foreign Exchange Management Act (FEMA), which has caused a sharp decline in USDT inflows into the country.

Josh Swihart, co-founder of Zcash and founder of ZODL, announced that the development team will jointly establish the project's future direction over the next few weeks. The core objective is to break through all centralization barriers, with a focus on reducing reliance on centralized intermediaries and strengthening privacy and self-sovereignty. In line with this, ZODL Mobile has released version 3.7.0, which supports multi-server transaction broadcasting, enhanced Android security, and integrated trading via the Maya DEX. Development of a macOS prototype has also begun. On the core research and development front, Zallet 0.1.0-alpha.4 has been released, and work is underway on the NU6.3 upgrade and the Ironwood migration.

While trading volume on Hyperliquid related to traditional financial markets drops to about one-sixth of weekday levels over the weekend, Sunday's volume is more than 60% higher than Saturday's, according to an analysis by Hyperinsight. The average daily trading volume this past weekend was approximately $590 million. Specifically, Saturday saw $338 million in volume, while Sunday recorded $654 million. The share of HIP-3 trading in Hyperliquid's total volume also decreased to 36.4%. Hyperinsight suggested this trend is likely due to traders opening early positions on 24-hour on-chain markets like Hyperliquid for anticipatory trading ahead of the Monday market open.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $82.74 million liquidated (81.62% longs) - ETH: $45.98 million liquidated (73.67% longs) - SOL: $10.32 million liquidated (55.39% longs)

South Korea's Ministry of Science and ICT is teaming up with the Korea Internet & Security Agency (KISA) and local governments to support domestic blockchain companies' expansion into the European market, Dailian reported. A delegation including 23 blockchain firms, alongside officials from the ministry, KISA, and the cities of Busan and Daegu, will attend 'GITEX AI EUROPE 2026' in Berlin, Germany, from June 30 to July 1. The government aims to help these companies establish local cooperation networks and achieve tangible results.

South Korea's Consumer Dispute Resolution Commission has ordered crypto exchange Bithumb to pay 100,000 won to each applicant of a disputed promotional event, Dong-A Ilbo reported. The case involves a promotion that began on Nov. 10 last year, offering first-time API traders a full fee rebate and a 100,000 won support payment. Bithumb later added a clause excluding one-time trades made solely to claim the reward, subsequently denying payment to some participants. The commission ruled that this change was the introduction of a new condition, not a clarification of existing terms. If the order is applied to all of the approximately 30,000 applicants, Bithumb could face a total payout of 3 billion won (about $2.2 million).

Bitcoin could see an additional 30% drop if it breaks below the key technical support level of $60,000, CNBC reported, citing multiple analysts. Matt Maley, chief analyst at U.S. asset management firm Miller Tabak, said a further drop from $60,000 could amplify negative sentiment. He noted that while Wall Street institutions continue to invest in crypto, retail investors who previously drove price rallies have shifted their focus to AI and tech stocks. John Roque, an analyst at 22V Research, noted that if BTC breaks below $60,000 again, it could fall as low as $40,000. However, Roque suggested that the passage of the CLARITY Act by the U.S. Congress could resolve long-term uncertainty and encourage renewed institutional participation.

Galaxy Digital's research arm announced it has lowered its forecast for the CLARITY Act's passage this year from 60% to 50%. The firm cited delays in the process of merging the bill between the Senate Banking Committee and the House Agriculture Committee, noting that a draft has not yet been released. According to Galaxy Digital, the timeline is tight to complete procedures in both the Senate and House before the late July recess, and the bill requires 60 votes to pass the Senate. If the Senate Majority Leader does not schedule a vote by early July, discussions will likely be pushed to September amid the midterm elections, making passage more difficult. The firm also pointed to ongoing challenges, including competition with other legislation and unresolved ethics provisions within the bill. However, Galaxy Digital added that the probability of passage could increase if the bill's consolidation and a floor vote are scheduled in July.

Real-world asset (RWA) tokenization platform Tribe Tokenisation FZE has obtained the 50th virtual asset service provider (VASP) license from regulators in Dubai, Cointelegraph reported. Newly licensed crypto firms must undergo a trial period before offering services or onboarding customers.

According to CoinNess market monitoring, BTC has risen above $60,000. BTC is trading at $60,017.15 on the Binance USDT market.

A historic blockade of the Strait of Hormuz has triggered a crisis in energy and raw material supplies, posing a new threat to the global economic outlook, according to a report released by the Bank for International Settlements (BIS) on June 28. The BIS noted that while geopolitical tensions have somewhat eased and oil prices have fallen sharply, the impact of this shock could persist. The report assessed that the global economy showed relatively strong resilience early this year, buoyed by optimism about advancements in artificial intelligence (AI) and better-than-expected global trade performance. However, the BIS pointed out that while AI could boost future productivity, the related optimism may not last long, and the current trend of large-scale capital investment may be difficult to sustain if supply bottlenecks continue to constrain production.

Revenue from Robinhood's prediction market business could surpass that of its cryptocurrency division as early as the second quarter of this year. According to Artemis Data, the volume of prediction market contracts on the platform for the second quarter reached approximately 12.3 billion as of June 25. This is estimated to have generated around $123 million in revenue, based on an average fee of $0.01 per contract. The figure is close to the $134 million in revenue generated by Robinhood's crypto division in the second quarter of last year.

Jack Yi, founder of LD Capital, stated via X that BTC is currently in its final downward phase. He noted that BTC is undergoing its third downward wave since October of last year and that, according to Elliott Wave and cycle theories, this is likely the last major decline of the bear market. Yi added that the key variables for determining the bottom are trends in the U.S. stock market and MicroStrategy (Nasdaq: MSTR). He suggested that if BTC falls 60% from its all-time high of $126,000, it could reach $51,000, while a 66% drop could bring it to $43,000. Yi predicted that July and August will mark the final downward phase of this cycle, presenting the most valuable dip-buying opportunity for the next three years.

U.S. credit card company American Express is hiring a head of stablecoin and blockchain strategy in New York. According to a LinkedIn job posting, the position will be responsible for developing a company-wide strategy for programmable money, stablecoin payments, and blockchain financial infrastructure. The role will also oversee collaborations with stablecoin issuers, blockchain networks, tokenization platforms, wallets, and fintech companies.

On-chain stock liquidity infrastructure provider StableStock has officially launched its leveraged spot trading feature. The company announced that users can now use stablecoins to trade real-world assets, such as global stocks, with leverage. StableStock explained that the service supports over 700 global assets, including SK Hynix, Samsung Electronics, and major U.S. stocks, offering leverage of up to approximately 10x. The platform also supports inverse ETFs, enabling both long and short investment strategies.

The value of 604 million ANSEM tokens held by crypto influencer Ansem has surpassed $71 million amid a price surge, Lookonchain reported. According to the on-chain analytics firm, the ANSEM token deployer initially spent approximately $6,300 to launch the token and subsequently purchased 792.45 million ANSEM. The deployer then transferred 650 million of these tokens to Ansem. The remaining 142.45 million ANSEM were sold for $11,800, resulting in a profit of about $5,500.

Kiwoom Securities is pursuing an acquisition of a stake in Bithumb, South Korea's second-largest cryptocurrency exchange, Chosun Biz reported. Citing sources in the investment banking and crypto industries, the report stated that Kiwoom and Bithumb are negotiating a third-party allotment of new shares. Under the potential deal, Bithumb would issue new shares for Kiwoom to acquire. The exact stake percentage and investment size are reportedly still under discussion. In response, a Bithumb official said the exchange is discussing potential partnerships with various financial and corporate entities but stated that nothing has been specifically reviewed or decided.

Despite a downturn in the virtual asset market and a plunge in Bitcoin's price this year, reports of unfair trading have increased, Gangwon Ilbo reported. According to data submitted by South Korea's Financial Supervisory Service (FSS) to Democratic Party lawmaker Kim Hyun-jung on June 29, the FSS's Virtual Asset Unfair Trading Report Center received 54 reports from January to May this year. By type, price manipulation was the most common, with 50 cases. There were also two reports each for the use of undisclosed information and other unfair trading practices. The FSS established the report center in January 2024. It received 55 reports in 2024 and 30 last year. With the number of reports in the first five months of this year already nearing the total for all of 2024, this year is on track to set a record for the most reports filed since the center opened.

Canopy Network, an AI-native blockchain development framework, has announced the completion of an $8.5 million seed funding round, according to a report by Odaily. The round saw participation from Arrington Capital, Fenbushi Capital, Borderless Capital, and SNZ Capital.

The spot cumulative volume delta (CVD) chart provides an order book analysis for the BTC/USDT spot pair. The top section displays a volume heatmap, while the bottom shows the CVD. - The volume heatmap tracks the volume of trades at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly. These brighter areas may act as potential support or resistance zones. - The CVD indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line indicates orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

CoinMarketCap's Altcoin Season Index is currently at 48. The index is calculated by comparing the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins, against that of Bitcoin over the past 90 days. The platform considers it an altcoin season if 75% of these top coins outperform Bitcoin during this period. A score closer to 100 indicates a stronger trend toward an altcoin season.

The following are the key global macroeconomic events scheduled for the fifth week of June: - 5:30 p.m. UTC, June 29: European Central Bank President Lagarde speaks - 2:00 p.m. UTC, June 30: U.S. May JOLTS report - 1:00 p.m. UTC, July 1: U.S. Fed Chairman Kevin Warsh speaks - 1:45 p.m. UTC, July 1: U.S. June Manufacturing PMI - 2:00 p.m. UTC, July 1: U.S. June ISM Manufacturing PMI - 12:30 p.m. UTC, July 2: U.S. June Non-Farm Payrolls, Unemployment Rate, and Initial Jobless Claims - 8:30 p.m. UTC, July 2: U.S. Fed balance sheet - July 3: U.S. stock market closed for Independence Day

An address presumed to belong to BitMEX co-founder Arthur Hayes purchased 6.16 million Synapse (SYN) tokens worth $2.2 million about an hour ago via the crypto over-the-counter (OTC) platform Flowdesk, according to an analysis by Onchain Lens. According to CoinMarketCap, SYN is currently trading at $0.383, up 27.78%.

CoinMarketCap's Crypto Fear & Greed Index is currently at 16, indicating continued extreme fear in the market. The index measures market sentiment on a scale from 0 (extreme fear) to 100 (extreme optimism). It is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data such as the put/call ratio, the Stablecoin Supply Ratio (SSR), and CoinMarketCap's proprietary search data.

Loopring (LRC), an Ethereum Layer 2 ZK-rollup protocol, announced via its official X account the immediate shutdown of all its decentralized exchange (DEX) services. In its explanation, the Loopring team stated that the project had failed to attract a significant user base. It cited the protocol's lack of a virtual machine (VM) and the absence of practical use cases like composability and payments as factors that hindered ecosystem growth. The team assured users that their assets are safe and that it will cover all transaction costs for withdrawals. However, to ensure efficiency, only whitelisted accounts with a final balance of $10 or more will be able to process withdrawals. LRC was delisted from South Korean exchanges, including Upbit and Bithumb, in February. According to CoinMarketCap, LRC is currently trading at $0.01228, down 2.41%.