Day: August 14, 2025

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While most cryptocurrencies followed Bitcoin’s downward trend this week, Cardano ETF rumors have given ADA a rare boost. The coin surged 3.59% to $0.909, making it one of the top performers in the top 100 by market cap. The rally coincided with the discovery of a “Grayscale Cardano Trust ETF” registration on Delaware’s state website.

Although Grayscale has not confirmed the filing, the potential for an ADA-focused ETF has fueled strong buying momentum. An ETF could open the door for institutional investors, improve liquidity, and provide Cardano with broader exposure in traditional financial markets.

Why the Market Is Struggling

July’s Producer Price Index (PPI) rose 0.9% month-over-month and 3.3% year-over-year—well above expectations. The inflation surprise has dampened hopes for near-term Federal Reserve rate cuts, leading to a broad selloff in risk assets. The global crypto market cap dropped 3.01% to $3.99 trillion, with Bitcoin down 3.9% and Ethereum down 3.3%. XRP (XRP-USD) took a heavier hit, falling 6% to $3.07.

Cardano’s Bullish Technical Setup

The Cardano ETF rumors come on top of strong technical indicators for ADA:

• Relative Strength Index (RSI): At 69, ADA is nearing overbought territory but still shows healthy momentum.

• Average Directional Index (ADX): At 27, this signals a confirmed trend.

• Golden Cross Formation: The 50-day EMA is above the 200-day EMA, a historically bullish sign.

Immediate support is at $0.86, while resistance lies at the psychological $1.00 level. A breakout could push ADA toward $1.20, based on Fibonacci extensions.

XRP Struggles Despite Strong Trend Signals

XRP’s selloff to $3.07 appears more tied to inflation fears than fundamental weakness. Technical indicators suggest a correction rather than a reversal:

• RSI: At 50, XRP is in neutral territory, offering a potential “accumulation zone” for traders.

• ADX: At 30, the trend remains intact despite volatility.

• EMA Spread: The bullish 50-200 EMA alignment continues to hold, acting as a cushion during pullbacks.

Immediate support stands at $2.95, with resistance at $3.24 and a stronger barrier at $3.39.

Institutional Momentum in Crypto Markets

Beyond the Cardano ETF rumors, the institutional side of crypto continues to heat up. Ark Invest, led by Cathie Wood, bought over 2.5 million shares of crypto exchange Bullish (NYSE:BLSH) during its IPO, valued at $177 million. Bullish operates both a crypto exchange and owns CoinDesk, with shares tripling from the $37 offering price on debut.

Ark also holds:

• Over $1.5 billion in Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD) shares

• $17 million in eToro (ETOR) shares

• More than $2 billion in its Bitcoin ETF (ARKB)

Bullish’s successful IPO mirrors the strong debut of USDC stablecoin issuer Circle (NYSE:CRCL) earlier this year. Other exchanges like Gemini and OKX are exploring IPOs, signaling that the bridge between crypto and traditional markets is strengthening.

Outlook

If the Cardano ETF rumors prove true, ADA could see a sustained rally fueled by institutional demand. For XRP, market sentiment hinges on inflation data and Federal Reserve policy shifts. With institutional investments in crypto assets rising, both tokens could benefit from increased liquidity and mainstream adoption in the months ahead.

Looking ahead, market sentiment toward these companies will likely depend on broader economic conditions, sector-specific developments, and their ability to execute strategic initiatives effectively. Investors should continue monitoring quarterly earnings reports, product launches, and industry trends for signals of sustained growth potential. In particular, companies with strong balance sheets and diversified revenue streams may be better positioned to weather market volatility and capitalize on emerging opportunities. While no investment is without risk, keeping a disciplined approach and staying informed can help investors navigate uncertainty, seize favorable market conditions, and potentially enhance their long-term portfolio performance.

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Citigroup Inc. (NYSE:C), one of the largest U.S. banks with approximately $2.5 trillion in assets under management, is reportedly preparing to enter the digital asset space with crypto custody services. This move would position the bank alongside major industry players like Coinbase Global Inc. (NASDAQ:COIN) in safeguarding digital assets for institutional clients. The initiative is bolstered by regulatory clarity under the Donald Trump administration, which has encouraged traditional financial institutions to explore blockchain-based offerings.

Stablecoin and ETF Custody in Focus

According to a Reuters report, Biswarup Chatterjee, Citigroup’s global head of partnerships and innovation for the services division, confirmed that the bank is evaluating the potential to provide custody services for stablecoins backed by high-quality reserves. This would ensure secure storage of the assets that underpin these digital tokens, a critical factor for institutional adoption.

Citigroup is also exploring custody services for cryptocurrency exchange-traded funds (ETFs), including those tracking Bitcoin and Ethereum. The strategy mirrors the role Coinbase currently plays as custodian for roughly 80% of U.S.-listed crypto ETFs. Notably, BlackRock Inc.’s (NYSE:BLK) iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF, manages over $90 billion in assets, requiring an equivalent amount of digital currency to be held in secure custody.

If Citigroup enters this market, it could become a key custodian for a growing number of digital asset investment products, adding a significant layer of credibility for institutional investors still cautious about crypto.

Stablecoins for Faster Payments

Citigroup crypto custody ambitions are tied closely to the bank’s broader interest in stablecoins. The bank is assessing how stablecoins can accelerate payment processing compared to traditional banking rails, which often take multiple days to settle transactions.

In earlier reports, Citigroup was said to be considering launching its own stablecoin—similar to JPMorgan Chase & Co.’s (NYSE:JPM) JPM Coin and initiatives from Bank of America Corp. (NYSE:BAC). The bank already offers tokenized U.S. dollar payments, enabling instant transfers between accounts worldwide via blockchain.

Chatterjee explained that upcoming services could allow clients to send stablecoins between accounts or instantly convert them into fiat currency for real-time payments. This could significantly improve cross-border transaction efficiency and reduce reliance on outdated settlement systems.

Compliance and Security Considerations

Citigroup has emphasized that compliance and operational security will be top priorities in any crypto custody offering. Before accepting assets, the bank intends to verify their legitimacy and ensure they have not been involved in illicit activity. Cybersecurity measures will also be strengthened to protect against theft and unauthorized access, a critical step in building trust with institutional clients.

This focus mirrors recent moves by other banking giants. Ripple Labs’ partnership with BNY Mellon (NYSE:BK) will see the latter custody the dollar reserves for Ripple’s RLUSD stablecoin, highlighting how custody services are becoming an integral part of stablecoin ecosystems.

TradFi’s Expanding Role in Digital Assets

Citigroup’s exploration of crypto custody services underscores a broader shift in traditional finance (TradFi). Major institutions like JPMorgan and PNC Financial Services Group Inc. (NYSE:PNC) have already partnered with Coinbase to offer crypto services, while JPMorgan is also planning crypto-backed loans.

For Citigroup, entering the crypto custody space is both a competitive and strategic move. By providing secure storage for stablecoins and crypto ETFs, the bank could establish itself as a trusted intermediary for digital assets—bridging the gap between blockchain innovation and mainstream finance.

Bottom Line

Citigroup crypto custody plans signal a major step toward mainstream adoption of blockchain-based financial products. By combining its global banking infrastructure with cutting-edge digital asset services, Citigroup aims to compete with established crypto custodians while offering faster, blockchain-enabled payment solutions. However, success will depend on navigating regulatory requirements, ensuring robust security, and convincing cautious institutions to embrace digital asset integration.

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PROVIDENCIALES, Turks and Caicos Islands, Aug. 14, 2025 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is pleased to announce that its crypto payment solution, KuCoin Pay, has entered into a strategic partnership with BitTopup, a rapidly growing marketplace for mobile recharges, gift cards, and game credits. This collaboration empowers KuCoin users to seamlessly spend their digital assets across a wide range of digital goods, enhancing real-world crypto utility.

KuCoin Pay is redefining the crypto payment experience for both merchants and users by offering fast and seamless payments. With integration across both online and offline channels, KuCoin Pay has rapidly expanded its global reach since the launch —building partnerships with a variety of platforms that support practical, everyday use cases for crypto. The addition of BitTopup further strengthens this network, enabling users to instantly purchase mobile top-ups, gaming credits, and digital gift cards using their favorite cryptocurrencies.

“At KuCoin Pay, our mission is to empower users to unlock the real-world value of crypto,” said Kumiko Ho, Head of Payment Business. “This partnership with BitTopup is another meaningful step toward that vision—making everyday payments faster, easier, and more accessible through digital assets.”

CEO of BitTopup  Amit Kuma commented:

At BitTopup, our mission is to bring digital assets into everyday life. Partnering with KuCoin Pay moves us closer to that vision—delivering faster processing, a smoother experience, and broader accessibility for everyday payments.

These collaboration reflects KuCoin Pay’s ongoing commitment to bridging the gap between crypto and daily life—offering users a smarter way to transact and merchants a forward-looking way to grow.

To celebrate the partnership, BitTopup is offering a 2% discount on all purchases made via KuCoin Pay, valid until November 12, 2025. For more details, please visit KuCoin’s official website.

About KuCoin Pay

KuCoin Pay is a next-generation merchant payment solution developed by KuCoin. It enables businesses to accept and process crypto payments with ease. By offering instant transactions, support for a wide range of cryptocurrencies, and seamless integration into retail ecosystems, KuCoin Pay is transforming how value flows in the digital economy.

About BitTopup

BitTopup is a trusted digital recharge platform serving over five million global customers. It enables instant top-ups for games, live-streaming services, and gift cards, with partnerships across leading brands like Google, Poppo Live, and Midasbuy.

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SOURCE KuCoin

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