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Ether rises 3% on tokenization and Robinhood Chain momentum but faces $1,800 resistance amid weak onchain metrics.

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Ether rises 3% on tokenization and Robinhood Chain momentum but faces $1,800 resistance amid weak onchain metrics.

Ether (ETH) price gained 3% between Thursday and Friday, outperforming the broader crypto market. The move ties to growing tokenization, Robinhood Chain’s success, and ongoing corporate treasury purchases. However, ETH failed to break above $1,800 amid weak onchain and derivatives metrics. Is Ether price bound to retest $1,700?

Key takeaways:

  • Ethereum leads RWA tokenization while Robinhood Chain drives fresh ETH inflows and ecosystem growth.
  • Mixed signals persist as BitMine accumulates heavily, yet stagnant onchain metrics signal caution.

Robinhood Chain and tokenization growth boost ETH price

The successful launch of the layer-2 network Robinhood Chain has boosted Ether investors’ sentiment. The newly launched blockchain uses ETH as its native gas token and has netted $106 million in bridge deposits. The TradFi trading platform Robinhood offers tokenized stocks to customers in 120 countries, further strengthening the EVM-compatible ecosystem.

Distributed tokenized assets value per chain, USD. Source: rwa.xyz

Ethereum dominates the RWA (real-world assets) market with a 47% market share, according to Rwa.xyz data. Excluding stablecoins, notable highlights include SKY’s Tether Gold (XAUT), Ondo US Dollar Yield (USDY), and Franklin Templeton’s government bonds (iBENJI). Leaders among tokenized stocks include Strategy’s PP variable (STRCx) from xStocks and Circle Group (CRCLon) from Ondo.

Source: X/LeonWaidmann

Leon Waidmann, head of Research at Lisk, noted that for the first time in history, the Total Value Locked (TVL) on Ethereum at $260 billion surpassed the market cap of Ether, currently at $210 billion. According to Waidmann, this distortion signals that “ETH is underpriced,” as the current relative valuation is lower than in the 2022 bear market.

Weak onchain and derivatives metrics limit Ether’s upside

Regardless of the growing adoption of Ethereum’s layer-2 solutions and the institutional inflows, onchain metrics point to overall stagnation. The 2026 bear market has hurt blockchain demand, while competing blockchains gained ground in specific sectors, including synthetic perpetual futures and automated yield vaults.

Ethereum weekly DApps revenue, USD (left) vs. active addresses (right). Source: DefiLlama

Decentralized applications (DApps) on Ethereum generated $11 million in weekly revenue, down from $20 million in the first quarter of 2026. Notable mentions include Sky at $3.1 million, Titan Builder with $2.4 million, and Chalink’s $1.1 million. Similarly, active addresses dropped to 3.2 million from 5.4 million in the first quarter, according to DefiLlama.

ETH perpetual futures annualized funding rate. Source: Laevitas

Meanwhile, ETH’s perpetual futures annualized funding rate dropped to 3% on Saturday, below the 6% neutral threshold signaling weak demand for bullish positions. Current data contrasts with the peak 12% levels from Friday, suggesting that bulls lack confidence. However, institutional inflows likely explain the latest price gains.

Source: X/Arkham

Arkham Intelligence flagged an ETH 20,500 withdrawal on Thursday worth $36 million from Galaxy Digital to a new wallet, a pattern that matches previous Tom Lee’s BitMine Immersion (BMNR US) purchases. BitMine added ETH 198,370 in the past 30 days alone, while the treasury company now holds $10.3 billion in reserves.

Ultimately, mixed signals from strong fundamentals and weak onchain metrics do not justify a retest of the $1,700 level, especially when considering BitMine’s impressive accumulation pace.

Traders See No Bitcoin Bull-Market Comeback Despite 10% July Gains

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Traders See No Bitcoin Bull-Market Comeback Despite 10% July Gains

Bitcoin (BTC) is seeing its best month of July since 2022, but analysis warns that the result could be firmly bearish.

Key points:

  • Bitcoin is nearing double-digit gains for July, but market reactions draw comparisons to 2022.
  • Bear-market patterns call for downside to resume next month before a Q4 bottom.
  • $70,000 remains a target for the current bounce.

Analyst sees BTC price “picking up” for rest of July before reversal

Data from CoinGlass shows that at 9.5%, BTC/USD is setting a four-year record for July gains.

Bitcoin’s last bear-market year, in 2022, saw price end July nearly 17% higher after significant 38% losses the month prior. What happened in August, however, showed that calls for bullish continuation at the time were premature. BTC/USD fell by around 14%, followed by a further 3% drop in September. 

This time, market participants are thus predictably cautious over short-term price strength.

“$BTC Has been pretty much in line with its average July performance so far. But of course it is still early,” trader Daan Crypto Trades commented on the CoinGlass numbers in an X post on Saturday.

Daan Crypto Trades noted that even taking bull markets into account, Q3 is Bitcoin’s weakest quarter, with average gains of just 6%.

“This has to do a lot with slow markets, low liquidity and volumes during the Summer time,” he added.

BTC/USD monthly returns (screenshot). Source: CoinGlass

Also concerned about seasonality is trader and analyst Rekt Capital, who notes that BTC price performance in 2026 is matching its previous bear markets closely.

“If history repeats, things are likely going to pick up for Bitcoin and its Summer relief rally in the second half of July,” he told X followers this week.

BTC/USD one-month chart. Source: Rekt Capital/X

As Cointelegraph reported, Rekt Capital sees August canceling out this month’s gains in preparation for a classic bear-market bottom later in the year.

$70,000 on the radar for July BTC price bounce

Other market participants are meanwhile preparing targets for the rest of July, with $70,000 becoming popular.

Related: Bitcoin returns to $64.3K with new 3-week BTC price highs imminent

“Interesting few days ahead,” Peter Anthony, creator of the House of Crypto YouTube channel, forecast while analyzing the daily chart.

Another trader eyed the area between $67,000 and $73,000 for a short entry, also predicting a “bullish July, then Bearish August until Q4.”

“Q4 is when the real volatility takes place for BTC (both directions),” Daan Crypto Trades concluded. 

“Will this year be the same?”

Earlier, Cointelegraph flagged multiple onchain indicators now flashing bear-market bottom signals for the first time in four years.

Overall demand, meanwhile, has shown only partial signs of recovery.

Russia’s Largest Private Bank Alfa-Bank To Test Bitcoin And Crypto Trading

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Russia’s Largest Private Bank Alfa-Bank To Test Bitcoin And Crypto Trading

Alfa-Bank, Russia’s largest private lender, is preparing to launch its own digital depository and a full slate of crypto services once national regulation takes effect, joining a widening race among Russian banks to capture a market that does not yet legally exist.

Dmitry Vitman, chief operating officer of Alfa-Bank’s corporate and investment business, told RBC Investments that the bank intends to offer “all possible services related to digital currencies” once the relevant legislation comes into force. 

“First and foremost, we plan to create our own digital depository and offer its services to other companies,” he said.

Under the framework expected to govern the market, a digital depository would record and store cryptocurrency and digital financial assets, monitor client transactions, and block transfers to addresses not sanctioned by authorities.

Firms that already hold a depository license would not need a separate license from the Central Bank to operate one.

Vitman said the market will develop gradually. Retail brokerage will come first, leaning on Russian and international infrastructure, with a possible launch in late 2026 or early 2027 if digital currency legislation enters into force in September 2026. 

Even so, he cautioned that meaningful liquidity and volume in Russia’s crypto market are unlikely to materialize before late 2027, a timeline that reflects both the untested regulatory machinery and the caution of institutions wary of moving before the rules are final.

The bank also wants to build Russian investment instruments on open blockchains capable of attracting foreign investors. 

“It’s important for Russia to develop its own instruments, otherwise we’ll have nothing to offer,” Vitman said. “We need to attract investors to our infrastructure, so we need to create products that can compete globally.”

A crowded field in Russia

Alfa-Bank is far from alone. T-Technologies Group, which controls T-Bank, has announced plans to launch a digital depository built on the Atomize digital financial asset platform and to sell crypto through its broker, T-Investments. 

VTB Bank likewise plans to create its own domestic digital depository for storing, recording, and circulating digital assets, including Bitcoin.

State-owned giant Sberbank is moving the fastest. The bank will launch a digital depository for storing and accounting crypto by December 1. Sberbank also plans to enable authorized crypto transactions inside its Sber app and SberInvestments, integrating custody directly into services that reach tens of millions of Russians.

When bitcoin and crypto trading could begin

The draft law “On Digital Currency and Digital Rights” has passed its first reading in the State Duma, advancing a sweeping regime that defines crypto circulation rules and introduces new professional participants, including crypto exchanges and digital depositories.

Originally slated to take effect July 1, 2026, the law’s timeline has slipped, with the new expected in-force date set for September 1. 

Vladimir Chistyukhin, first deputy chairman of the Central Bank, said the regulator expects all rules needed to launch legal crypto operations to be adopted and published by November, clearing the way for the first transactions. 

The Moscow Exchange expects to conduct its first crypto trades by the end of 2026.

US CBDC Ban to Go into Effect without Trump Signoff on Housing Bill

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US CBDC Ban to Go into Effect without Trump Signoff on Housing Bill

A bipartisan housing bill containing a ban on a central bank digital currency (CBDC) in the United States is set to become law as the deadline approaches for President Donald Trump to sign it.

Just after midnight on Friday, the 21st Century ROAD to Housing Act will have been in Trump’s hands for 10 days, excluding Sundays, the maximum amount of time a bill can be on the president’s desk without a veto or a signature. Under the US Constitution, the legislation will automatically become law without action from Trump, who canceled the signing ceremony for the bill on Jun 24.

In a Friday social media post, Trump confirmed that he would not sign the housing bill, calling Republicans in Congress who voted on the legislation “dumb” and urging the Senate to instead prioritize a controversial voting bill, the SAVE America Act. The legislation, which would require people to provide proof of US citizenship in person to register, has received widespread criticism for claims that it would disenfranchise citizens already eligible to vote.

Source: Donald Trump

The housing bill, passed by the House of Representatives and Senate in June with support from Democrats and Republicans, included language barring the Federal Reserve from issuing or creating a CBDC “or any digital asset that is substantially similar” until Dec. 31, 2030. Many analysts saw the digital dollar ban as a political giveaway to gain Republican support. Trump did not address the CBDC ban in his Friday post.

Related: Trump backs CFTC authority over prediction markets

“[H]e’s refusing to sign the biggest housing bill in 30 years,” said Senator Elizabeth Warren, who co-sponsored the bill, on Trump’s actions. “The good news: it’s going to become law anyway.”

Could Trump’s inaction also affect crypto market structure?

Although the US president said in May that he intended to “future-proof” digital asset regulations, his refusal to sign legislation unrelated to the SAVE America Act has raised questions about whether the Digital Asset Market Clarity (CLARITY) Act under consideration in the Senate could face a similar situation as the housing bill.

The CLARITY Act, considered by many to be one of the most significant pieces of legislation affecting digital asset regulation, has already passed the House and two crucial Senate committees. Republican leaders in Congress expect that the bill will be heading to the full chamber for a floor vote in July once lawmakers return from state work periods on Monday.

Trump’s ties to the crypto industry have already complicated discussions between Democrats and Republicans over the market structure bill. The president disclosed earning more than $1.4 billion in income from his crypto ventures in 2025, including memecoins and the family’s World Liberty Financial platform.

Magazine: Crypto’s CLARITY Act faces partisan fight over ethics on Senate floor

Bitcoin A ‘Screaming Buy,’ Analyst Says, Keeps $100K Target

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Bitcoin A ‘Screaming Buy,’ Analyst Says, Keeps $100K Target

Standard Chartered maintained its end-2026 Bitcoin price forecast of $100,000 in a note to investors on Friday, arguing that the recent weakness reflects a failure by Strategy to explain a strategic shift rather than any deterioration in the company’s balance sheet.

Geoffrey Kendrick, the bank’s global head of digital assets research, wrote that Strategy — the largest corporate holder of Bitcoin, with 843,775 coins, more than 4% of the 21 million that will ever exist — “appears to be pivoting from its ‘never sell Bitcoin’ mantra to a more complex approach.” 

Clear communication of that pivot, he wrote, will determine how fast the pressure on BTC lifts.

Between 2020 and mid-2025, Strategy’s mNAV — enterprise value divided by the value of its Bitcoin — traded above 1.0. That premium lets the company issue shares, buy Bitcoin, and grow its value by more than the value of the new stock. Convincing the market it would never sell was the load-bearing part of the model.

With mNAV near 1.0, that arithmetic no longer works. Kendrick said Strategy is pivoting toward holding Bitcoin as backing for STRC, its perpetual preferred stock, which functions as a credit product.