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Surges

Oliver Knight
Crypto Trends

Cosmos' ATOM Surges 10% in High-Volume Breakout Rally

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Uncertainty in the Middle East between Iran and Israel continues to shape cryptocurrency performance as ATOM demonstrates remarkable strength with a decisive breakout.

The cryptocurrency surged from $3.787 to $4.042, establishing new support above the psychological $4.00 level with strong buyer conviction.

Technical Analysis

  • ATOM-USD demonstrated a 6.73% gain over 24 hours, with a total price range of $0.359 (9.52%).
  • The decisive breakout occurred at 22:00 on June 23rd, with price surging through the $4.00 resistance level.
  • Trading volume during the breakout reached 2,027,234 units, nearly double the 24-hour SMA of 1,023,000.
  • A new high-volume resistance level was established at $4.09. • Post-breakout, ATOM maintained support above $4.00 with decreasing volatility, suggesting consolidation.
  • In the most recent hour, ATOM experienced a bullish breakout at 12:03, surging from $4.035 to $4.042.
  • This mini-rally continued to $4.046 at 12:04, representing a 1.0% gain within just two minutes.
  • The exceptionally high volume during this move (108,229 units at 12:03, followed by 91,550 units at 12:04) indicates strong buyer conviction.



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Shaurya Malwa
Crypto Trends

Dogecoin Surges 7% as Bulls Break Key Resistance

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Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.



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NFT Gaming

Ethereum (ETH) Surges 9% After Trump Announces Israel-Iran Ceasefire to End ‘The 12 DAY War’

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Ether (ETH)

is trading at $2,420, up 8.61% over the past 24 hours, after surging sharply in the hours following former U.S. President Donald Trump’s unexpected announcement of a ceasefire agreement between Israel and Iran, according to CoinDesk Research’s technical analysis model.

The move appears to have reversed recent war-driven market anxiety, fueling renewed bullish sentiment across crypto markets.

At 10:02 p.m. UTC on June 23, Trump posted on Truth Social that a full ceasefire agreement had been reached by both Israel and Iran. According to his statement, each country would pause hostilities in coordinated stages: Iran would initiate a 12-hour ceasefire, followed by Israel, leading to a 24-hour complete cessation of the conflict. Trump described this as a successful conclusion to what he labeled a 12-day war — one he claimed could have escalated into a much longer and more devastating regional conflict. He praised both sides for choosing restraint and credited the agreement with averting further turmoil in the Middle East.

The announcement injected a wave of optimism into the crypto market, especially for high-beta assets like ether. Prior to the rally, ETH had already been showing signs of strength, supported by steady whale accumulation. On-chain data shows over $265 million in ETH was acquired by large holders during the recent downturn, including a single wallet that purchased 47,070 ETH —r oughly $113 million — over a three-day period.

Ethereum’s network fundamentals remain robust, with an average of 1 million new ETH wallet addresses created weekly since mid-May, representing a 50% year-over-year increase. With volatility receding and risk appetite returning, traders are now watching whether ETH can break through the next psychological threshold of $2,500.

Technical Analysis Highlights

  • ETH rallied 7.7% from $2,230 to $2,401 over the 24-hour analysis window.
  • High-volume support formed between $2,220 and $2,230, with initial buying at $2,191.36.
  • Price broke out above $2,400 during the 22:02–22:11 window as volume spiked to 28,149 ETH.
  • Resistance at $2,275 flipped into support as buying momentum accelerated.
  • ETH touched an intrahour high of $2,434.95 before entering a consolidation phase.
  • Price action formed a potential bull flag as ETH traded between $2,390 and $2,402.
  • Volume surged to 2.5x the 24-hour average in the final three hours of the session.
  • Higher lows confirmed bullish structure throughout the uptrend.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Polygon price slowly forms a bullish pattern as stablecoin growth surges
NFT Gaming

Polygon price slowly forms a bullish pattern as stablecoin growth surges

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Polygon price continued its downward trend on Monday, June 23, dropping to its lowest level since April 9.

Polygon (POL) plunged to a low of $0.1732, mirroring the broader sell-off in altcoins. The token is now down more than 77% from its December 2023 high.

The sell-off in Polygon comes amid a broader crypto market downturn and the network’s declining market share to rising competitors like Base and Arbitrum. For instance, decentralized exchanges on Polygon processed $3.82 billion in transactions over the last 30 days.

By comparison, Coinbase’s Base chain handled over $29 billion during the same period, while Arbitrum recorded $18.9 billion. Newer layer-1 blockchains such as Hyperliquid and Sui have also overtaken Polygon in terms of DEX volume.

On a more positive note, Polygon has shown strong growth in the booming stablecoin sector. Its stablecoin supply has jumped 10% over the last 30 days to more than $2.3 billion.

Supporting this, the number of stablecoin transactions on Polygon jumped 44% to 81.1 million during the same period. The adjusted transaction volume surged 35% to $52 billion, positioning Polygon as one of the leading chains in stablecoin activity.

Most of this activity has come via Binance, followed by Polymarket, the popular prediction market platform.

Polygon price technical analysis

POL price chart | Source: crypto.news

The daily chart shows that POL bottomed at $0.1500 in April and rebounded to a high of $0.2754 on May 11. Since then, the price has retreated and broken below the 50-day moving average.

Polygon is now approaching a critical support level at $0.1500, suggesting it may be forming a double-bottom pattern, a common bullish reversal signal.

If the price holds above this level and begins to bounce, the next upside target would be the neckline around $0.2757. However, a decisive drop below $0.1500 would invalidate the bullish setup and potentially trigger further downside.



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Useless Coin price surges as smart money investors buy
NFT Gaming

Useless Coin price surges as smart money investors buy

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Useless Coin has emerged as a surprising outlier in a bearish crypto landscape, surging over 1,700% in June even as broader Solana meme coins and blue-chip tokens like Bitcoin retreat.

Powered by aggressive accumulation from smart money and whales, and supported by thinning exchange balances, the meme coin has hit a $100 million market cap and caught the attention of traders hunting for upside. While momentum indicators now flash caution, Useless Coin’s rise underscores the unpredictable nature of meme-driven markets—and the powerful role of investor sentiment.

Useless Coin (USELESS) token jumped to a high of $0.1092 this week, up by over 1,750% from its lowest level in June. 

Useless token price jumped even as the crypto market crashed, with Bitcoin (BTC) falling from a record high of $111,900 in May to $103,000. Most Solana (SOL) meme coins have dropped this month, with their market capitalization falling from over $15 billion earlier this month to $9 billion. 

Nansen data shows that smart money investors have been buying the coin. Data shows that its smart money investors bought Useless tokens worth over $94,000 in the last 24 hours.

These investors now hold over 14 million tokens, a 97% increase from the same period last month. Similarly, whales have increased their exposure by over 36% in the last 30 days to over 338 million. 

Useless whale accumulation | Source: Nansen

Smart money and whale accumulation is a good catalyst for an asset because it is a sign that they expect the price to keep going upwards. Further data shows that the exchange balances have crashed by over 16% in this period to 51.8 million. 

Useless Coin price technical analysis

Useless chart | Source: TradingView

The four-hour chart shows that the Useless token price has surged from a low of $0.005460 to a record high of $0.1095. It has formed an ascending channel and remained above the 50-period moving average. 

The risk, however, is that there are signs that the momentum is ending. For example, the Average Directional Index has plunged from a record high of 70 to 20. The ADX is a popular indicator that measures the strength of a trend. 

The MACD and the Relative Strength Index have also formed a bearish divergence pattern, pointing to a potential retreat. Therefore, the coin may drop to the support at $0.50 as traders start to book profits.  



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IOST price surges amid $21m raise to accelerate RWA growth
NFT Gaming

SEI price surges as Wyoming selects Sei Network for WYST stablecoin

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Sei price has spiked more than 13% in the past 24 hours amid news that the Wyoming Stable Token Commission has selected Sei “as a candidate blockchain” for the state’s upcoming stablecoin.

On June 19, as top coins led by Bitcoin (BTC) looked to rebound from the recent downturn, Sei (SEI) outpaced the top 100 cryptocurrencies by market cap. The SEI price jumped over 13% to hit an intraday high of $0.19, its highest level since June 12.

Why is SEI price up?

Sei Network’s native token appears to have surged following a key announcement from the blockchain project’s team.

Sei posted via X that the Wyoming Stable Token Commission had selected Sei as one of two candidate blockchains for the state’s fiat-backed stablecoin, WYST. 

Wyoming’s WYST is a fiat-backed stablecoin set to be deployed via LayerZero in July.

LayerZero Labs will be the issuance partner, with WYST issued via the interoperability protocol’s Omnichain Fungible Token standard.

The Wyoming state began testing the U.S. dollar-backed stablecoin in March, with testing across several blockchains. Apart from Sei, the other candidate blockchains, as indicated on the Commission’s WYST page are Aptos, Arbitrum, Avalanche, Base, Ethereum, Polygon, Optimism, Stellar, Solana, and Sui.

Sei Network is a layer-1 blockchain backed by Circle, Delphi Digital, Multicoin Capital, and Coinbase, among others.

Bullish sentiment around SEI surged following the Wyoming news, with daily trading volume up more than 91% to $175 million. Sei’s market capitalization climbed past $1 billion. The token reached its all-time high of $1.14 in March 2024.

Per data from DeFiLlama, the total value locked currently stands at $1.03 billion, while its stablecoin market cap sits at $213 million.



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Oliver Knight
Crypto Trends

NEAR Protocol Surges 5% as Buyers Dominate Amid Middle East Tensions

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CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.



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Circle stock surges 34% to $200 after GENIUS Act passes
GameFi Guides

Circle stock surges 34% to $200 after GENIUS Act passes

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Circle’s stock surged 34% on June 18 to close at $199.59 after the GENIUS Act cleared the Senate.

According to Yahoo Finance data, the stock briefly touched an all-time high of $200.90 before closing at $199.59. The move marked a nearly 6.5-fold increase from the company’s initial public offering price of $31 set two weeks earlier on June 5.

The sharp rally came just after the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, a bill that would establish a comprehensive federal framework for regulating dollar-backed stablecoins such as Circle’s USD Coin (USDC). 

The legislation, which cleared the Senate with a 68–30 vote on June 17, now heads to the House of Representatives. House Financial Services Committee staff confirmed that scheduling discussions are expected to begin next week, although a floor vote date has not yet been announced. Supporters of the bill hope to have it on President Donald Trump’s desk before the August congressional recess.

Alongside Circle’s gains, Coinbase’s stock increased by 14%, and Robinhood’s stock rose by 4.5% to reach a new all-time high of $78.35. The market reaction reflected growing confidence that clear federal oversight of stablecoins could accelerate mainstream adoption and de-risk the regulatory landscape for U.S.-based issuers.

The GENIUS Act creates federal licensing requirements for stablecoin issuers, mandates complete backing of tokens with dollar reserves, such as cash or Treasuries, and gives the Federal Reserve and the Office of the Comptroller of the Currency oversight powers.

The legislation also seeks to improve technical interoperability among blockchain platforms and standardize consumer protection guidelines. While some states, like New York, already regulate stablecoins through local regimes like BitLicense, the GENIUS Act aims to bring all of those efforts together under a single national standard.

The Act enhances Circle’s standing as a top U.S. issuer with institutional-grade practices, as it already complies with strict reserve transparency and compliance standards. USDC, Circle’s primary product, is currently widely used in decentralized finance, remittances, and tokenized payment systems.



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Oliver Knight
Crypto Trends

ATOM Surges 6% as Crypto Markets Bounce Back

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CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.



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Oliver Knight
NFT Gaming

NEAR Protocol Surges 4% After 12.8% Correction, User Growth Shines

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Conflict between Israel and Iran spurred a crypto market sell-off on Friday, with NEAR Protocol experiencing significant price volatility despite impressive adoption metrics.

The protocol has emerged as a leading Layer-1 solution, surpassing established competitors like Ethereum, Binance Chain, and Tron in monthly active users, highlighting a growing shift in user preferences toward platforms offering lower transaction costs and improved usability.

Market analysts note that NEAR’s recent price correction occurred despite its strong fundamentals, with the token currently trading below key technical indicators.

The protocol’s focus on user-friendly infrastructure, including features like account abstraction and chain signatures, has positioned it as an attractive option for both developers and users in the blockchain space, particularly as it expands into AI applications and web3 consumer apps.

While short-term price action remains uncertain with support at $2.20 and resistance at $2.30, NEAR’s remarkable user growth suggests potential for recovery if broader market conditions improve and institutional interest continues to develop around its expanding ecosystem.

Technical Analysis

  • NEAR-USD underwent a significant correction, plummeting from $2.50 to a low of $2.18, representing a 12.8% decline over the 24-hour period.
  • The most intense selling occurred during the midnight hours (00:00-02:00), with exceptionally high volume (5.4-6.9 million) establishing a strong resistance zone around $2.37.
  • A modest recovery attempt emerged from the $2.18 support level, with price stabilizing in the $2.21-$2.25 range, though the bounce lacked conviction as evidenced by diminishing volume during recovery phases.
  • The formation of lower highs and higher lows since the initial drop suggests consolidation, with immediate support at $2.20 and resistance at $2.30 likely determining the next directional move.
  • In the last hour, NEAR-USD demonstrated significant volatility with a strong recovery from the earlier correction, climbing from $2.217 to a peak of $2.239 before consolidating.
  • The most notable price action occurred between 13:31-13:40, where NEAR surged nearly 4% on exceptionally high volume (86,916-147,856 units), establishing a new resistance zone around $2.235.
  • A brief pullback to $2.214 at 13:54 found immediate support, with buyers stepping in to push prices back above $2.22.
  • The hourly close at $2.223 represents a 0.5% gain from the opening price, with volume patterns suggesting accumulation following the earlier sell-off, potentially indicating a short-term trend reversal if prices can maintain above the $2.22 support level.



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