Filecoin Spikes 9% as Downtrend Breaks

Stellar's token has surged by 2.3%, breaking through the critical resistance level of $0.2460, driven by increased institutional flows and a notable rise in trading volume. This movement indicates a significant accumulation trend above the seven-day average, suggesting a potential shift in market dynamics.

U.S. Bank, the fifth-largest commercial bank in the U.S., is testing the issuance of custom stablecoins on the Stellar Network, marking a significant exploration of how traditional banking can integrate with public blockchain technology. This initiative reflects a growing interest in digital currencies among established financial institutions.

The price of TON has pulled back after an initial rally driven by the expansion of the Telegram ecosystem, with trading activity declining sharply as traders focus on key support levels near $1.50. This shift indicates a waning interest from buyers following a brief surge in demand.

Internet Computer (ICP) has successfully surpassed the critical resistance level of $4.20, accompanied by increased trading volume, indicating a potential upward momentum in its market performance. However, late-session consolidation has narrowed the gains achieved during this breakout.

BONK has successfully broken through a significant overhead resistance level, with trading volume surging 85% above its average, indicating strong market interest and momentum. This breakthrough has been followed by a late pullback that has established a new support band for the cryptocurrency.

Bitcoin is currently underperforming compared to equities, despite bullish catalysts in the market. The gap has widened due to gains in AI-driven stocks and significant leverage in the cryptocurrency sector, leading to a negative sentiment surrounding Bitcoin's performance.

Anchorage Digital is seeking to comply with U.S. regulations under the GENIUS Act by offering yield-like rewards on Ethena's tokens, despite existing laws that prohibit interest payments on stablecoins. This initiative aims to create a compliant framework for token holders to benefit from their investments.

Paxos has acquired the crypto wallet startup Fordefi to enhance its custody services, aiming to meet the increasing institutional demand for on-chain asset issuance and stablecoin payments. This acquisition integrates Fordefi's MPC wallet technology, which is expected to bolster Paxos' regulated capabilities in custody and institutional operations.