Bitcoin has recovered above $62,000 following the initial shock from IBM's worst single-day performance in 25 years, with the cryptocurrency showing resilience as market conditions stabilize. The recovery comes after IBM's stock plummeted 13.15% on Monday, its worst single-day performance since October 2000, which had initially triggered $370 million in crypto liquidations according to CoinGlass data. Over $369.83 million in leveraged bets were wiped out over the past 24 hours, with one-third of that amount coming from long positions, amounting to over $275 million. The initial decline had pushed Bitcoin's price down 2.3% over the last 24 hours to around $62,900, with retail sentiment on Stocktwits edging lower into 'bearish' territory. However, Bitcoin's recovery above $62,000 signals a shift from fear to cautious optimism as the broader crypto market cycle moves from fear to more stable conditions.
RLUSD has emerged as XRP's dominant trading partner, processing around $900 million in trading volume over the past six months while more than $2.5 billion has flowed through RLUSD trading pairs since launch. According to Evernorth data, RLUSD in circulation on XRP has grown from around $20 million at the end of 2024 to nearly $800 million by late June 2026, representing a 40x increase, with the fastest growth occurring during May and June. RLUSD payment activity has surged dramatically, with the value of direct payments on the XRP Ledger jumping from about $68 million in December 2024 to more than $5 billion by May 2026, representing roughly 75 times growth since launch. RLUSD payment activity has surged from about $68 million in December 2024 to more than $5 billion by May 2026, with more than 51% of all RLUSD in circulation now existing on the XRP Ledger, up sharply from just 17% in April 2026. This growth suggests RLUSD is expanding the XRP Ledger's overall economy rather than reducing XRP's importance, as every payment, trade, and liquidity transaction continues to consume XRP for network fees.
According to reports from CoinDesk, Ethereum and XRP were among the worst hit, dropping more than 2% each in the last 24 hours, with Ethereum's price falling 2.3% to $1,818 after analysts had warned that it was due for a deeper correction if the price remained below $2,000. Solana's price tumbled 1.5% in the last 24 hours to around $76.38, while XRP's price was down just 1% to $1.32. The overall cryptocurrency market had fallen 2.1% in the last 24 hours to $2.25 trillion, with other major cryptocurrencies also posting declines. Ethereum saw retail sentiment trending in 'extremely bearish' territory over the past day, while retail sentiment around Solana and XRP trended in the 'bearish' zone. The latest data shows Bitcoin jumped around 6% on the week to retake $63,000, marking a full reversal from the losses that closed out June when it briefly fell to an intraday low near $57,735 on July 1, its weakest level in 21 months.
BNB Chain has launched its BNBAgent SDK on mainnet, positioning the platform to compete with Ethereum and Solana for AI-focused decentralized applications. The SDK allows developers to build on-chain tools that can process payments, verify identities, and automate transactions without leaving the blockchain. Binance has reported that its internal AI systems helped prevent over $10 billion in potential fraud losses during the first part of 2026, demonstrating the practical applications of blockchain-based AI solutions. Additionally, Grayscale and VanEck have updated their SEC registration documents for proposed spot BNB ETFs, adding institutional weight to the BNB price prediction conversation. BNB currently trades near $590, well below its all-time high of roughly $1,370 reached in October 2025, having dropped more than 55% from that peak. Changelly data places BNB between $600 and $650 for the second half of 2026, with a potential move toward $700 if spot ETF filings gain traction.
As reported by CoinDesk, the gains held even as the backdrop turned cautious, with a rebound in semiconductor and technology shares losing steam, reviving doubts about the durability of this year's AI-driven rally. South Korea's Kospi fell 1.4% as Samsung Electronics and SK Hynix declined, while an MSCI gauge of Asian chipmakers slipped. The shift is particularly notable as for most of the past quarter, money has rotated out of crypto and into chip and AI stocks, and cracks in that trade tended to pull the token market down with the rest of risk assets. However, the latest data shows a weak June jobs print drove the Dow to a record 52,900 and cooled rate-hike bets, creating a softer-rate environment that benefited both traditional risk assets and digital assets. A cooling labor market handing the Fed cover to stay patient and creating a more favorable environment for risk assets including crypto.
