PEPE Faces Selling Pressure on Binance as Breakout Attempt Falters
PEPE, the third-largest meme token by market capitalization, has struggled to maintain its recent breakout above the 100-day moving average, facing persistent selling pressure on Binance. Early on July 8, 2025, the token briefly touched $0.00001009 before retreating 1% to $0.00000992. Volume analysis indicates four high-volume sell-offs, forming a descending resistance trendline, with a notable movement of 500 billion Pepe (worth approximately $3.85 million) contributing to the downward pressure. Despite accumulation efforts, distribution patterns have dominated market activity, signaling challenges for PEPE's near-term price recovery. Traders on Binance are closely monitoring whether the meme token can regain momentum or if further declines are imminent.
PEPE Struggles to Sustain Breakout Amid Persistent Selling Pressure
PEPE, the third-largest meme token by market value, has faltered after a brief breakout above its 100-day moving average. Early Monday saw the cryptocurrency touch $0.00001009 before retreating 1% to $0.00000992, as distribution patterns outweighed accumulation efforts.
Volume analysis reveals four distinct high-volume sell-offs, forming a descending resistance trendline. The movement of 500 billion PEPE ($3.85 million) to Binance underscores ongoing volatility, with whale activity suggesting potential liquidations.
Technical indicators paint a mixed picture—RSI sits at 44.29 while sentiment remains neutral. Despite short-term turbulence, analysts maintain bullish long-term projections for the token.
EU Grants MiCA Licenses to 53 Crypto Firms, Excluding Tether and Binance
The European Union's Markets in Crypto-Assets (MiCA) framework has approved 53 entities within its first six months, enabling them to operate across 30 European Economic Area countries without additional jurisdictional approvals. Circle, Crypto.com, and Societe Generale are among the 14 authorized stablecoin issuers, collectively backing 20 fiat-pegged tokens.
Notably absent are Tether, issuer of USDT, and Binance, which have yet to comply with MiCA requirements. The regulatory milestone underscores the EU's push for digital asset compliance, with euro-denominated stablecoins dominating the licensed offerings.
UAE Regulators Reject TON Foundation's Staking-for-Visa Proposal
The TON Foundation's ambitious plan to link Toncoin staking with UAE golden visas collapsed under regulatory scrutiny. UAE authorities issued a rare joint statement denying any approval for the program, forcing the foundation into damage control mode.
Initial claims suggested staking $100,000 in TON could fast-track residency applications—a proposition that gained viral traction before being debunked. The episode highlights the crypto industry's recurring challenge of premature announcements before securing regulatory buy-in.
While the foundation characterized the incident as exploratory, the swift regulatory response underscores growing global scrutiny of crypto-linked immigration schemes. The case may prompt more cautious approaches from blockchain projects seeking government partnerships.
Bitcoin’s User Drop Signals Warning at $100K: What’s Next for BTC
Bitcoin’s price clung stubbornly above the $100,000 threshold on July 7, 2025, yet beneath the surface, cautionary signals emerged. The digital asset’s resilience masked a brewing storm of on-chain and market metrics pointing to potential volatility ahead.
Binance Funding Rates, typically a barometer of trader sentiment, turned negative despite Bitcoin’s lofty valuation. This anomaly suggests short sellers are mounting aggressive bets against the cryptocurrency, a stark contrast to the bullish dominance seen during previous rallies. Crowded short positions could trigger a violent short squeeze—propelling prices higher temporarily—or exacerbate a downturn if momentum wanes.
On-chain activity paints a bleaker portrait. Daily transactions plummeted to roughly 50,300, while network growth—a measure of new address creation—stagnated. Such declines often precede price corrections, raising questions about Bitcoin’s ability to sustain its record-breaking rally.
Nigerian Scammer Impersonating Trump Ally Defrauds Donor of $250K in Crypto
A Nigerian fraudster posing as Steve Witkoff, a prominent TRUMP ally and co-chair of the Trump-Vance Inaugural Committee, siphoned $250,000 in USDT.ETH from a political donor. The scammer used a spoofed email resembling Witkoff’s official address to deceive the victim.
Authorities recovered 40,300 USDT.ETH—half traced to a Binance account under Lagos-based Ehiremen Aigbokhan, a known 'yahoo boy.' The U.S. Attorney’s Office is returning the frozen funds, but over $210,000 remains missing.
U.S. Attorney Jeanine Ferris Pirro warned donors to verify recipients thoroughly, noting the challenges of tracing blockchain transactions. The case underscores the risks of crypto scams exploiting high-profile identities.
Binance Coin (BNB) Holds Strong Above $600 Support, Signaling Bullish Breakout Potential
Binance Coin (BNB) demonstrates resilience, holding firmly above the critical $600 support level despite recent market turbulence. The asset's price action reveals a classic bullish pattern—higher lows and a tightening range—suggesting an imminent breakout.
Analysts project upside targets of $700–$900, reflecting renewed investor confidence. Currently trading at $661.98, BNB has seen a 0.82% gain over 24 hours, with $1.15 billion in volume and a $97.62 billion market cap. These metrics underscore sustained demand for one of crypto's leading altcoins.
Technical indicators point to a consolidation phase, often a precursor to significant price movements. The $600 level now serves as a psychological and technical floor, with bulls eyeing a potential trend reversal.
