Welcome to the 19th issue of mb.insider. Every week, we break down key updates on the crypto market and the mb.io ecosystem. No noise. Just what matters. As an Insider, you get this news first!
Company updates
New tokens on mb.io
Three new tokens are now live on the mb.io app: Ripple USD (RLUSD), Lighter (LIT), and Morpho (MORPHO).
-
RLUSD brings Ripple's dollar-backed stablecoin to the platform
-
LIT is the token behind Lighter, one of the fastest-growing decentralized trading platforms
-
MORPHO powers one of DeFi's largest onchain lending protocols
Stablecoin settlement, decentralized trading infrastructure, and onchain lending, all in one drop.
Market updates
Geopolitical tensions rise. BTC's $63,200 floor breaks same day.
Renewed tensions in the Middle East escalated overnight, with reports of attacks on oil tankers in the Strait of Hormuz and retaliatory strikes across the region, straining the ceasefire that has held since last month.
A waiver that had allowed Iranian oil onto international markets was also pulled, and Brent crude jumped more than 2% on the news. BTC gave up its $63,200 liquidation cluster and slid toward $62,600, with $60,000 now the next real test. None of this came from crypto. It came from geopolitics, and crypto absorbed it anyway.
Leverage got tested today. It’s the ETF bid that held.
Unliquidated longs across BTC, ETH, XRP, and SOL were exactly the setup flagged earlier this week, and today’s slide is what happens when that positioning meets a real shock. XRP and SOL took it hardest, down more than 4% each, well outpacing BTC’s move.
The surprising part: US spot Bitcoin ETFs booked a third straight day of net inflows on Tuesday, a small one, but a green day is a green day during a geopolitical selloff. June’s FOMC minutes land later today, and CPI is still on deck for July 14. Leverage flinched. Institutions didn’t.
The market at a glance
-
BTC: ~$62,700
-
ETH: ~$1,700
-
XRP: ~$1.09
-
SOL: ~$77
Fear & Greed is sliding again as geopolitical tensions broke a fragile ceasefire and BTC’s $63,200 floor the same day, with FOMC minutes today and CPI looming July 14. Leverage cracked first. Bitcoin ETFs still logged a green day anyway.
That’s all for this week. See you next week!
