Friday Forecasts: 07/11/25

Your weekly pulse on markets, narratives, protocols, and policy.

Market Pulse

Crypto liquidations hit $1.3B as Bitcoin price nosedives below $104K

Bitcoin bears extended the sell-side activity into the European Trading session on Tuesday as the drop to $104,000 resulted in a large liquidation of leveraged positions across the crypto market. Bitcoin wipes out liquidity in tumble to $104,000

BTC price fell as low as $104,130 on Tuesday, reversing Sunday’s spike to $111,000 as derivatives traders adopted a risk-off stance.

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Stream Finance halts withdrawals after $93M loss, xUSD depegs 75%

Stream Finance has halted deposits and withdrawals from its platform in response to the loss of $93 million of “Stream fund assets.”

The news caused the xUSD yield vault token to depeg over 75%. At the time of writing it’s trading at $0.30 rather than its target price of around $1.27.

It blames the loss on an “external fund manager overseeing Stream funds.”

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Narratives to Watch

U.S. Spot XRP ETF Is So Close as Franklin Templeton, Bitwise, & Canary Capital File Updates

The race to launch the first U.S. spot XRP exchange-traded fund (ETF) is moving quickly, with Franklin Templeton, Bitwise, and Canary Capital all submitting amended registration statements to the Securities and Exchange Commission (SEC) in recent days. The updates point to mid-November as a possible launch window. This timeline could prove important for XRP’s (XRP-USD) price and broader investor sentiment.

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Solana News: Western Union All-In, Inflows and RWAs Skyrocket

SOL bleeds, but Western Union gives the network a vote of confidence with its planned stablecoin launch. Solana registers second-biggest week of inflows, and rings the bell at the NYSE! Market Overview

“Uptober” never came. Are we now going to get “Moonvember” or “Nopevember”? So far, November has picked up where October left off, with Bitcoin dropping to $107,000, closing the week with a 6% loss.

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Protocol Watch

Ethereum Updates: TRON’s GreatVoyage: Strengthening USDT’s $122B Network to Compete with Ethereum

The TRON Mainnet will soon implement the GreatVoyage-v4.8.1 update, a move designed to enhance both system compatibility and network efficiency as competition heats up in the blockchain sector. This upgrade, revealed by the Tron

Foundation, comes after a notable increase in network usage in October 2025, when decentralized exchange (DEX) activity soared by 174% to $3.04 billion and the number of active addresses climbed to 87.7 million, according to Coinotag.

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Cardano’s Phalanx Update: A New Era for Crypto Payroll Security and Efficiency

As the world of cryptocurrency keeps changing, one thing stays the same: security is always a top concern. Cardano’s Phalanx update is a big step forward in Proof-of-Stake (PoS) security. It protects the network from grinding attacks and makes transactions run smoother. Let’s break down how this update raises the bar for security, making it easier for institutions to adopt and comply with regulations.

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Regulatory Radar

Coinbase exec criticizes banks’ pushback against crypto charter application

The Independent Community Bankers of America (ICBA) is opposing cryptocurrency exchange Coinbase’s application for a National Trust Company Charter in the US — a move that could threaten banks’ interests as the company moves closer to traditional finance.

In a Monday letter to the US Office of the Comptroller of the Currency (OCC) — the office responsible for approving banking applications — the ICBA said it “strongly opposes” Coinbase’s subsidiary applying for a trust charter.

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Canada’s budget promises laws to regulate stablecoins, following US lead

Canada is set to introduce legislation regulating fiat-backed stablecoins under its federal budget for 2025, following the footsteps of the US, which passed landmark stablecoin laws in July.

Stablecoin issuers will be required to hold sufficient reserves, establish redemption policies and implement various risk management frameworks, including measures to protect personal and financial data, according to the government’s 2025 budget released on Tuesday.

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Moonrig Perspective

Markets are maturing — and so are narratives.
Real opportunity now lies in utility-backed protocols, tokenomics with intent, and cross-chain infrastructure.

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