The French crypto industry is once again in the spotlight. Reuters reveals that France is once again at the heart of European crypto debate, indicating that it could move to block licensed companies in other EU jurisdictions from operating within the country.

The regulatory warning issued on Monday by Marie-Anne Barbat-Layani, Chairman of the Autorité des Marchés Financiers (AMF), highlights the deep fractures already manifested in the European Union’s groundbreaking market in the European Union’s Crypto Asset Regulation (MICA).

MICA, officially enacted by service providers in December 2024, was billed as the world’s first comprehensive digital asset rulebook.

This framework allows crypto companies to obtain permits in one member country and “passport” their licenses in all 27 countries.

The map is clear 246 days after MICA came into effect.

He leads with Areland 123’s Mica white paper.
Germany: 59
RieChtenstein: 36
Malta: 26
Netherlands: 21
France: 7
Spain: 3

246 days after Mica went live, our map shows where the code launches are taking place… pic.twitter.com/1d7y8wf30p

– Storm Partners (@storm_partners) September 2, 2025

However, since the scheme was rolled out, Ireland, for example, has so far received 17.5 times the number of crypto-passports as France.

For businesses, the passport mechanism is an award and an efficient gateway to the block’s single market. However, regulators like the AMF have made fault lines public for the past nine months.

24 hours7d1Y

Barbat-Layani warned that companies are already “shopping” for their weakest jurisdictions, and have secured light touch licenses before expanding to larger markets such as France. “The possibility of denying an EU passport is not ruled out,” she told Reuters, comparing the option to “atomic weapons” that can be deployed if the director gap continues.

This comment is because France, Italy and Austria jointly seek the European Securities and Markets Agency (ESMA) to envisage direct surveillance of major crypto companies.

In a joint paper, three regulators argued that the implementation of the early MICA revealed a “major difference” in the way national supervisors interpret and enforce rules. They argue that the direct ESMA oversight they argue is essential to protect investors and ensure a level playing field.

That push follows stinging criticism of Malta’s licensing regime. In July, in a peer review of the ESMA, the Malta Financial Services Agency found that it “partially met expectations” when approving the crypto provider, highlighting a decline in risk assessments and slow follow-up of supervision.

Additionally, the report has encouraged concerns that smaller jurisdictions could become regulatory gateways for businesses seeking rapid EU access.

Discover: Best New Cryptocurrencies to Invest in 2025

Are there other reasons why crypto companies are escheating France?

The regulatory debate of the high stakes unfolds against the tense background in France’s own crypto ecosystem. Over the past few months, a series of violent intrigues targeting crypto entrepreneurs and their families has rattled the industry. French police have attempted to acquiring at least half a dozen of them to demand ransom for digital assets, including cases in which victims were cut off to put pressure on millions of payments.

Security experts warn that some of the new EU reporting requirements could make it easier for criminals to identify wealthy targets.

This double pressure, fragmentation of regulations at the EU level and rising domestic security concerns have put Paris in a difficult position as the summer season approaches.

AMF has spent years on blockchain startups that brand France as a jurisdiction of clarity and reliability, especially after granting a license to Binance’s French organization in 2022.

The interests are high for investors and businesses. If France unilaterally refuses to recognize licenses from other EU states, the single market promises supporting MICA could break before they become fully established.

However, it is important to understand that risk is not just reputation but structural. The divergence of EU oversight will undermine confidence at the moment Europe is considering whether Trump can provide a reliable alternative to America.

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Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

August 26, 2025

XRP futures on CME Group has now crossed the $1b open interest milestone, becoming the fastest crypto contract to do so, just three months after launch.

The achievement shows growing institutional appetite for regulated exposure to digital assets.

CME said its wider crypto futures suite has now surpassed $30b in notional open interest for the first time. Both Solana and XRP futures crossed $1b, but XRP hit the mark at record speed, outpacing its peers and drawing fresh attention from funds and corporate desks.

The move is being viewed as a sign of market maturity and deepening liquidity in digital asset derivatives. Analysts say it reflects a new wave of institutional capital, as traditional finance increasingly embraces crypto markets through regulated venues.

High Volume Drop Tests Key Levels Before Quick Rebound

XRP itself has remained volatile. The token traded within a 5% range between $2.98 and $2.84 in the 24 hours ending Aug. 26. The steepest move came on Aug. 25, when the price fell from $2.96 to $2.84 on volume three times higher than its daily average.

Institutional buying quickly stepped in, lifting the token back to $2.92. Market participants described the $2.84 level as critical support, with volumes suggesting renewed corporate and fund activity. In the final hour of the session, XRP rose 0.7% from $2.90 to $2.92 on more than 5.7m traded tokens.

On the derivatives side, XRP futures recorded their heaviest daily activity since July 15 on Aug. 25. A total of 7,533 contracts changed hands, equivalent to more than $1b in volume. Since launch in May, CME’s XRP futures have seen over 251,000 contracts traded, representing $9.02b in cumulative notional volume.

Technical Indicators Point To Possible XRP Retest Of Lower Levels

The regulated nature of CME’s contracts, which settle to the CME CF XRP-Dollar Reference Rate and are supervised by the CFTC, has been a key factor in attracting demand. Analysts argue the milestone shows confidence in XRP’s long-term role in institutional portfolios.

Ryan Lee, chief analyst at Bitget, said XRP is sitting at a technical crossroads. Bollinger Bands are tightening, RSI remains neutral, and low buying volume suggests a possible retest of $2.60 to $2.00.

“A break above the $3.10 level with conviction and volume, and a run toward $3.40 could follow,” he added. “But derivative markets are skewed short, and upside stays guarded until momentum firms.”

XRP Futures Strength Sparks Renewed Talk Of Spot ETF Approval

The development also feeds into broader speculation about spot XRP ETFs. Several asset managers, including Grayscale, Bitwise and 21Shares, have filed applications with the US Securities and Exchange Commission. Market participants believe strong futures liquidity could support those cases.

The surge in XRP futures comes against a backdrop of firm crypto markets. Federal Reserve Chair Jerome Powell signaled rate cuts at Jackson Hole, fueling risk appetite across equities and digital assets. While Bitcoin has dominated headlines, XRP’s rapid derivatives growth signals its expanding role among institutions.

Elsewhere in the market, other altcoins have also seen bursts of activity. Shiba Inu briefly spiked toward $0.0000135 following a short-term technical signal, while Cardano’s development efforts continue to draw interest. Yet analysts caution that sustained momentum across smaller tokens will still depend on Bitcoin’s trajectory and broader macro conditions.

Senate Banking Committee Chairman Tim Scott reportedly predicts that 12 to 18 Democrats will support comprehensive crypto market structure legislation.

According to Aug. 19 reports, Scott is conducting individual meetings with Democratic members, including those outside the Banking Committee, to build bipartisan backing for the anticipated September bill introduction.

The South Carolina Republican’s outreach efforts follow the House passage of the Digital Asset Market Clarity Act on July 17, which received support from 78 Democrats in a 294-134 vote.

The House legislation establishes jurisdictional boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission while creating registration pathways for qualifying digital asset platforms.

Scott released a discussion draft of the Responsible Financial Innovation Act of 2025 on July 22 alongside Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno.

The Senate proposal builds upon the House CLARITY Act by introducing ancillary asset definitions, modernized disclosure requirements, and banking provisions that allow financial holding companies to offer digital asset services.

Regulatory framework development

The CLARITY Act directs SEC and CFTC coordination through joint registration processes for platforms listing tokens that meet functional decentralization tests and public float requirements.

Qualifying networks fall outside the securities law scope once they achieve sufficient decentralization metrics.

The legislation establishes token disclosure requirements scaling with market capitalization tiers while requiring issuers conducting US sales to submit initial information statements.

Banking supervisors receive instruction to recognize qualified custodians managing both stablecoins and digital assets under unified segregation and audit standards.

The framework creates coordinated custody requirements for platforms operating spot and derivatives trading under shared regulatory oversight between the two primary federal agencies.

The Senate discussion draft expands these provisions through ancillary asset classifications covering digital tokens that avoid securities designation.

Regulation DA would exempt certain ancillary asset sales from registration requirements for annual proceeds under $75 million, capped over four-year periods.

The proposal refined investment contract definitions under federal law while establishing pre- and post-launch transparency requirements for digital asset issuers.

Senator Lummis emphasized the urgency of regulatory clarity to prevent American innovation migration overseas, stating the legislation will establish clear distinctions between digital asset securities and commodities while modernizing regulatory frameworks.

Senator Hagerty noted that outdated laws and regulatory uncertainty have hindered innovation and left consumers without adequate protections.

Lastly, the Banking Committee issued a Request for Information covering more than 35 topics to support rulemaking processes, with public comments informing final legislation development.

Mentioned in this article

Ethereum Positive/Negative Sentiment Still At Muted Levels

In a new post on X, analytics firm Santiment has talked about the sentiment around Ethereum that’s present among social media users. The indicator shared by Santiment is the “Positive/Negative Sentiment,” which tells us how the positive and negative comments related to ETH compare against each other on the major social media platforms.

The metric separates between the two types of comments by putting users’ posts/threads/messages through a machine-learning model. Once they have been divided, it counts up the number of each and takes the ratio between them.

Below is the chart shared by the analytics firm that shows the trend in the Ethereum Positive/Negative Sentiment over the last few months:

As displayed in the graph, the Ethereum Positive/Negative Sentiment interestingly witnessed a plunge as the asset’s breakout earlier in the month took place. This would suggest that social media users weren’t convinced by the rally. The continuation in the run since then has meant that the sentiment has improved a bit, but it still remains much lower than the high from last month. Thus, it seems retail is in disbelief, despite the fact that the cryptocurrency is nearing its all-time high (ATH).

If the past is anything to go by, this fact could actually be a positive signal for ETH. “Prices historically movein  the opposite direction of retail traders’ expectations,” says Santiment. The analytics firm has highlighted in the chart some instances of this trend in action. It would appear that FOMO spikes led to price drops for the asset, while excessive FUD resulted in price rises.

“With key stakeholders accumulating loose coins that small ETH traders are willing to part with right now, prices are showing very little sentiment resistance from breaking through and making history in the near future,” explains Santiment.

In some other news, the Ethereum Futures Open Interest has shot up alongside the price surge, as analytics firm Glassnode has pointed out in an X post.

The Futures Open Interest measures, as its name suggests, the total amount of futures-related positions that are currently open on all centralized derivatives exchanges. From the chart, it’s visible that the metric has climbed beyond the $35.5 billion mark, which is a new record.

ETH Price

Following a rally of over 7% in the last 24 hours, Ethereum has reached the $4,730 mark, now sitting within touching distance of the ATH.

A widely followed crypto analyst says that Ethereum (ETH) looks set to reach a new all-time high within the next few months.

In a new strategy session, Benjamin Cowen tells his 917,000 YouTube subscribers that the second-largest digital asset by market cap has met his previous criteria of forming a higher macro low, therefore setting it up for an eventual push to new highs.

“For a long time, my bias was that it made sense to fade Ethereum because it was going to bleed against Bitcoin, and it needed to go home. It needed to form a macro higher low. Now, that’s happened. So, what is my bias now, right? Well, my bias now is that it will make new all-time highs and I’m going to say no later than December.”

Cowen sees Ethereum hitting its market cycle top before January 2026, with a maximum price tag of $7,500.

“I think the top for Ethereum for this market cycle will occur no later than January, and it could very well occur before that. It depends on what happens. So let’s suppose that Ethereum does go to a new all-time high this cycle and let’s suppose it happens within the next 5 to 6 months…

We did this whole video on the butterfly effect, where essentially if you go through the butterfly effect, it calls for a price of Ethereum, potentially of $5,300 to as high as $7,500. So, I say that again. $5,300 to $7,500 is a range that would be justified if you believe in that butterfly harmonic pattern that we’ve been following for a while.”

The butterfly effect refers to a harmonic pattern Cohen believes Ethereum is following, one that leads to a cycle top and an ensuing bear market.

Ethereum is trading for $3,499 at time of writing, a 3% increase during the last 24 hours.

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Generated Image: Midjourney

Leading digital asset investment firm CoinShares says that institutional inflows into crypto products have set new monthly highs in July.

According to its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that digital assets just pushed over $11 billion over the last month, a new record before the month is even finished.

“Digital asset investment products saw US$1.9bn in inflows last week, marking the 15th consecutive week of positive sentiment. This pushed month-to-date inflows to a record US$11.2bn, significantly surpassing the US$7.6bn seen in December 2024 following the US election.”

Regionally speaking, the United States led globally with $2 billion in inflows, followed by Germany at $70 million. Hong Kong, Canada and Brazil suffered $160 million, $84.3 million and $23.2 million in outflows, respectively.

Institutional Ethereum (ETH) investment products continued their hot streak as current year-to-date inflows for the leading smart contract platform have already blown past 2024 totals.

“Ethereum stood out, unusually leading with US$1.59bn in inflows last week, its second-strongest week on record. Year-to-date inflows into Ethereum have now reached $7.79 bn, surpassing the total for all of last year.”

Bitcoin (BTC), unusually, suffered outflows of $175 million. According to CoinShares, this could mark the beginning of “altseason.”

“While inconclusive, there are some signs: Solana and XRP attracted substantial inflows of US$311m and US$189m respectively, with SUI also seeing US$8m.

However, beyond these names, inflows tapered off quickly. Several altcoins saw outflows, including Litecoin (US$1.2m) and Bitcoin Cash (US$0.66m).”

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Generated Image: Midjourney

Solana’s (SOL) recent climb back above $200 is a sign that the altcoin pivoted from a “meme-driven ecosystem” to a “high-beta, blue-chip alternative” that is attracting institutional attention.

According to MEXC Research chief analyst Shawn Young, the over 34% increase in July to the $202.52 price, as of press time, marks a shift in how the market values the Solana network.

In a note, Young highlighted that SOL outperformed both Bitcoin and Ethereum during the same stretch. Two key forces drive this move: anticipation of a Solana-focused exchange-traded fund (ETF) and tangible progress on core infrastructure.

The implication is that the alignment of institutional appetite, corporate treasury allocation, and network upgrades could let Solana lead the next rotation of capital into altcoins. 

Technical enhancements

Young pointed to the Block Assembly Marketplace (BAM) announced by Jito Labs as the kind of technical advance that can change the narrative. 

Programmable control over blockspace, lower MEV, and faster, cleaner sequencing would address persistent complaints about Solana’s reliability. 

For institutional validators and sophisticated builders, those upgrades signal a network that is maturing, not just riding momentum.

ETF speculation is the other pillar. Young cited more than $73 million in pre-ETF commitments and nearly 3 million SOL moving into corporate wallets last month as evidence of a longer-term positioning shift. 

Solana’s market capitalization has surpassed $100 billion, positioning it among the largest crypto. 

The analyst argued that it reflects an evolution from speculation to foundation, as Solana can benefit from the proliferation of tokenized real-world assets and the increasing demand for high-throughput on-chain infrastructure.

Next price levels

If those currents continue to flow in the same direction, Young said SOL is positioned to remain a core allocation in diversified crypto portfolios into the third quarter.

Technically, he frames the market in straightforward terms. Clearing and holding above $185 removed a key overhead barrier and opened a path toward $210, and potentially $230, provided there is no shock event and broader conditions remain benign. 

However, failing to break through $210 decisively would make a retest of the $185 zone a plausible scenario.

Young’s bottom line is that fundamentals and structure, not just sentiment, are now driving Solana’s case. 

If the promised ETF channel opens and BAM delivers the block-level control developers want, the token’s July surge could prove to be the start of a broader reallocating cycle rather than just another spike on the chart.

Mentioned in this article

The crypto market was a story of two distinct halves, one of which saw the Bitcoin price soar to multiple all-time highs. After reaching its all-time high of around $122,800, the premier cryptocurrency has succumbed to a sobering wave of bearish pressure in the past few days.

This recent wave of downward pressure was precipitated by the movement of a Satoshi-era whale on Thursday, July 17. However, the Bitcoin price never seemed likely to cross the $123,000 level, and a prominent on-chain expert on X has explained why.

Is The Move To $143,000 Still Possible?

In a recent post on the social media platform X, Alphractal CEO & founder Joao Wedson explained why the price of BTC failed to break the $123,000 level during its rally to a new all-time high in the past week. According to the crypto expert, this seeming loss of momentum could spell danger for the market leader in the short term.

Related Reading

The rationale behind this prediction is that the $123,000 region (or more precisely, $123,370) is the second Alpha Price level for the Bitcoin price. For context, the Alpha Price is a powerful on-chain indicator that uses several key metrics to estimate where the BTC price is likely to find support or resistance.

In essence, the Alpha Price is a level that the price of Bitcoin needs to breach and stay above to enter the next significant phase of the bull cycle. “It begins by calculating the market’s age in days and uses that to derive the average market cap—essentially the historical valuation baseline,” Wedson added about the indicator.

As shown in the chart above, the Alpha Price indicator has multiple threshold levels, which behave like pressure regions. These thresholds reflect zones where investor sentiment is likely to shift; lower levels act as supports because investors often buy to defend their positions, while upper levels signal increased selling pressure due to profit taking.

Wedson noted that the Bitcoin price failing to breach the second Alpha Price level doesn’t imply that the market top is in. However, the $123,370 region is a clear resistance zone, and the BTC price might need to face some pullback before climbing to new highs.

Wedson also mentioned that the Alpha Price level will update on Saturday, July 19, as it’s dynamically adjusted based on real-time on-chain transaction flows. Nevertheless, if the Bitcoin price does break this level, a move to above $143,000 could still be on the cards.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $117,610, reflecting an over 2% decline in the past 24 hours.

Related Reading

Featured image from iStock, chart from TradingView

However, as BTC approaches the $120K zone, profit-taking and distribution pressure may rise, increasing the likelihood of a short-term corrective pullback.

Technical Analysis

By ShayanMarkets

The Daily Chart

After a prolonged consolidation phase, Bitcoin has decisively broken above its previous all-time high of $111K. This breakout was backed by a notable surge in buying activity, triggering a short-squeeze that accelerated the bullish momentum. As a result, Bitcoin rapidly climbed toward the psychologically significant $120K resistance level.

While this move signals strong market confidence, the $120K region is a probable zone for profit-taking and distribution, which could temporarily slow down the rally. A short-term corrective phase is therefore expected, likely pulling the price back toward the $111K region to retest the breakout level. Based on the Fibonacci retracement tool, key resistance levels ahead are located at $120K and $131K.

The 4-Hour Chart

On the lower timeframe, Bitcoin printed a powerful bullish candle, decisively breaking above both the descending wedge pattern and the previous ATH at $111K. Following a minor pullback to retest the breakout zone, the price resumed its upward surge, reaching the $120K mark.

Such impulsive rallies are often followed by short-term corrections, as traders begin to realize profits. A healthy retracement would likely target the 0.5 ($113K) to 0.618 ($111K) Fibonacci levels, a key zone where the market may stabilize and build momentum for the next leg up.

On-chain Analysis

By ShayanMarkets

As Bitcoin trades at all-time highs near $120K, an intriguing insight emerges from the Short-Term Holder SOPR metric. This indicator, which measures realized profits from investors who’ve held BTC for less than 155 days, remains notably muted, especially when compared to November 2024, when Bitcoin first reached $111K.

Despite the recent surge, short-term holders aren’t cashing out aggressively, indicating that profit-taking is still relatively limited. Historically, the end of a bullish cycle is often accompanied by elevated SOPR values due to massive profit realization. But for now, the data suggests the market isn’t overheated, and the current rally could still have room to grow if new demand enters.

The post Bitcoin Price Analysis: Is a Correction Coming or Will BTC Break $120K Next? appeared first on CryptoPotato.