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Velvet crashes 37% as shorts seize control and whale activity surges
Edgen Crypto·Jul 24 2026, 17:47Share to
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[1] Velvet crashes 37% as shorts take control – But THIS signal hints at (https://ambcrypto.com/velvet-crashes-37-as-sh ...)[2] Velvet token plunges 37% amid leveraged capital outflows and bearish market shifts - Pluang (https://pluang.com/en/news-feed/velvet-turun- ...)
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Jul 24 2026, 19:46
Billions Network jumps 25% after Robinhood listing as distribution risk grows
Billions Network's BILL token rose 25% to near $0.035 on July 24 after Robinhood listed the altcoin, though on-chain data showed distribution risk that could cap further gains. "Robinhood listings typically drive a short-term volume spike, but the real test is whether the token can hold above key technical levels once the initial retail buying subsides," Jason Wu, an on-chain analyst, said. Daily trading volume surged 163% to about $217 million, exceeding BILL's market cap by 2.67x, according to CoinGecko. Mindshare spiked 425.8% with 1,170 mentions on social platforms, CoinMarketCap data showed. The token broke out of a symmetrical triangle pattern above the $0.020 zone, with bulls testing resistance at $0.035. Net volume showed 9.42 million BILL tokens bought, while the Chaikin Money Flow reading of 0.14 indicated capital inflows. The breakout from the bottoming pattern suggests a potential trend reversal if buying pressure sustains. The listing on Robinhood gives BILL access to one of the largest retail brokerage platforms in the U.S., with 27.7 million funded customers. The exchange has been expanding its crypto offerings, adding tokens including Billions Network as part of a broader push into digital assets. Robinhood's crypto division has been adding new listings to compete with centralized exchanges like Coinbase and Kraken for retail trading volume. The BILL listing follows a pattern of Robinhood adding smaller-cap altcoins to attract a wider user base. The rally faces headwinds from potential distribution by early holders. On-chain data from Arkham Intelligence showed 20 million BILL tokens worth $630,000 moved from a Gnosis Safe multisig wallet, while millions of tokens were transferred from Coinbase and Bitvavo cold storage to market maker GSR Market over the past two days, pointing to a possible OTC deal or distribution event. Such moves often precede sell pressure as institutional holders or early backers look to monetize positions following a listing-driven price spike. The movement of tokens from cold storage to active wallets is a common precursor to market sales. A close above $0.035 would confirm the trend shift, but failure to breach that level could trigger a retest of the symmetrical triangle pattern near $0.020. The market sentiment remains neutral as traders wait for confirmation, with the distribution overhang adding downside risk to what has otherwise been a bullish listing event. The next few trading sessions will determine whether the Robinhood listing provides sustained momentum or becomes a sell-the-news event. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 19:43
Hoskinson warns Bitcoin governance failure risks 30% quantum discount
**Charles Hoskinson says Cardano's governance model makes it better equipped than Bitcoin to survive quantum computing's arrival.** Bitcoin trades at a 30% quantum discount, Capriole estimates, as Cardano's Hoskinson warns governance failures could cost the network its top ranking. "Bitcoin's governance structure makes it ill-equipped to respond to existential technical threats like quantum computing," Charles Hoskinson, co-founder of Cardano, said July 24. He argued that Cardano's on-chain governance and upgrade mechanisms position it better to implement post-quantum solutions. Charles Edwards, founder of Capriole Investments, estimates Bitcoin is roughly 40% below its fair value based on energy value, with quantum risk accounting for approximately a 30% discount. "That means it's more than priced in," Edwards said. He predicts double-digit upside for Bitcoin, calling the quantum issue "somewhat counterintuitively an upside catalyst potential" given the lack of a current solution. Bitcoin was trading at $65,270 at the time of publication, roughly 49% below its October all-time highs of $126,100. The quantum threat has drawn institutional attention. BlackRock and Coinbase jointly launched a $15 million fund to harden Bitcoin against quantum attacks, while researchers estimate "Q Day" — when quantum computers can reverse-engineer private keys from public keys — could arrive within four to five years. Ethereum is due to complete its post-quantum overhaul by 2029, which will shine a spotlight on Bitcoin's own preparations. ## Quantum Risk Priced In, But Uncertainty Remains Nic Carter, a notable figure in the cryptocurrency space, has claimed the US government could use quantum technology to compromise Bitcoin's security, potentially recovering coins from previous owners. While current assessments suggest the necessary technology does not yet exist, the claims have added to market uncertainty. On Polymarket, the odds of Bitcoin reaching $200,000 by December 31, 2026, stand at just 2% YES, reflecting skepticism among market participants. Edwards clarified that Bitcoin's current price reflects quantum risk based on available information, rather than unknown future developments that could accelerate the threat. "It's priced in today, but it's not to say that it can't get worse or better," he said. "It's just I think it's skewed more probabilistically to the upside from here." Ethan Heilman, author of BIP-360, has estimated that developing and implementing a quantum-resistant solution for Bitcoin could take years. The Bitcoin Improvement Proposals to date are "not really" a genuine solution, Edwards said, adding that the risk would fall significantly if a roadmap to a solution emerged. The governance debate adds a new dimension to Bitcoin's risk profile as the network approaches its next halving cycle. If developers fail to produce a credible post-quantum roadmap before Ethereum completes its overhaul in 2029, the narrative advantage could shift to competing networks with more agile governance models, potentially reshaping the crypto hierarchy. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 17:45
Dogecoin drops 5% to $0.0685 after Musk says he got carried away
Dogecoin fell 5.3% to $0.0685 after Elon Musk told The Economist he got "carried away" with politics and his role leading the government's DOGE department. "I think I got a little too involved in politics, got carried away, frankly," Musk, chief executive officer of Tesla Inc. and SpaceX, said in the interview published Thursday. The memecoin's decline pushed its weekly loss to 5%, with 24-hour trading volume reaching $690 million, according to CoinGecko. Musk donated more than $250 million to back President Donald Trump's 2024 campaign and later led the Department of Government Efficiency, a cost-cutting initiative that shut down July 4 after cutting jobs and funding across federal agencies. The admission raises questions about Musk's future engagement with the crypto sector, given his history of influencing Dogecoin prices through social media posts and public appearances. DOGE now faces a key support test at $0.0650, a level not breached since early June. Musk's four-month stint at DOGE ended in late May 2025, after which he and Trump had a falling out over the One Big Beautiful Bill Act. The relationship later mended, with Musk attending a White House dinner in November and joining Trump on a trip to China with other tech leaders in May. The billionaire's political involvement spilled over onto his companies, with Tesla's stock sinking during his time in the administration. Musk had also explored launching a third political party, though the effort never materialized. For Dogecoin, the risk is that Musk's retreat from politics could also mean reduced engagement with the memecoin he has long championed. The token remains the largest memecoin by market capitalization but has struggled to reclaim levels above $0.10 since late 2024. This article is for informational purposes only and does not constitute investment advice.