For years, XRP has been held back by the SEC’s seemingly never-ending lawsuit against Ripple, and the relative lack of interoperability the XRP Ledger has had with other crypto ecosystems. Well, both of those shackles are now being cast off.
The agreement between the SEC and Ripple to finally bury the hatchet after years of litigation and untold millions in legal fees is big news. But, the really important developments are those happening with the XRPL, which could finally unlock the network’s massive potential and with it billions of dollars worth of liquidity. The realisation has come that XRP needs to be about more than cross-border payments - a successful cryptocurrency needs to support a lot more use cases than that.
So, in order to achieve this, EVM compatibility is needed - and the launch of the XRPL EVM sidechain is bringing just that. And that is precisely what we’re looking at in today’s video. We explain what this new sidechain is, look at what it’s going to make possible, and explore what it means for XRP and for crypto more broadly. Spoiler alert: it could be pretty darn bullish for all concerned.
You can watch that video here.
📈 Crypto Market Forecast 📈
The passing of the so-called Big Beautiful Bill last week has everyone asking what comes next. The answer is: quite a bit. Let’s start with the biggest news, and that’s the fact that now that this bill has passed, the US government will need to issue hundreds of billions of dollars of bonds to refill its bank account at the Fed, also known as the Treasury General Account (TGA).
In theory, this amount of bond issuance will result in a liquidity drain, as investors will basically move money out of other assets like stocks to buy these bonds around the margins. In practice, upcoming stablecoin regulations, as well as the SLR exemption, could introduce new buyers of bonds that offset this liquidity drain. More importantly, crypto lags liquidity by around 3 months.
If you’re active on X, chances are you’ve seen this chart of Bitcoin vs. global M2 money supply. As you can see, it suggests that BTC will continue rising as the liquidity injection from months prior finds its way into the crypto market. Logically, this means that any liquidity drain caused by the TGA refill will not start affecting the crypto market until sometime in early October.
At the same time, this means that liquidity conditions are likely to be supportive of the crypto market over the summer. However, this doesn’t guarantee that this liquidity will move into small cryptos. For that to happen, investors need to feel confident to allocate further out along the risk curve. This means removing obstacles to more speculation, such as uncertainty around Trump’s tariffs.
In case you missed the news, the tariffs are expected to be finalized this week, specifically by Wednesday, July 9th. Trump reportedly began sending out letters with final tariffs to countries on Friday, and chances are that we’ve gotten a few of these numbers by the time you read this. While the initial reveal could cause volatility, their finalization will finally eliminate the uncertainty.
This could create the perfect macro backdrop for the week after next, when the House will vote on and consider multiple crypto bills, including the GENIUS Act for stablecoins and the CLARITY Act for crypto market structure. Pro-crypto politicians are calling this bill bonanza ‘Crypto Week’, and it will begin on July 14th. The GENIUS Act will likely become law as a result.
Meanwhile, it’s possible that the SEC could introduce its highly anticipated temporary exemptive relief framework, which would essentially legalize most of crypto in the US for a limited time. At very least, the SEC is likely to approve more spot altcoin ETFs, such as the conversion of Grayscale’s large cap trust into an ETF (which was paused, but apparently not for long).
Although the crypto market could pump in response to these developments, they are also not sufficient to cause a sustained rally. As we’ve seen with the spot Ethereum ETFs, all these things do is make it much easier for liquidity to flow into crypto, but it doesn’t create any flows. What does create flows is eye-popping announcements like tokenized stocks on Solana.
This is precisely why the GENIUS Act and the SEC’s temporary exemptive relief order are so important. They will make it possible for crypto and TradFi companies to announce things like stablecoin payments, more tokenized RWAs, various kinds of DeFi yields, the launch of new tokens and use cases, etc. Our research suggests these announcements are ready to go.
When these announcements start hitting the wires, the result will be a surge in attention and investment in the crypto industry, particularly in altcoins where most of the experimentation and speculation will take place. Not sure who needs to hear it, but retail is present in the markets, and they’re speculating on assets like penny stocks at levels 2-3x higher than in 2020-2021.
Again, this suggests that the only missing ingredient for crypto is attention. The first step is to eliminate or reduce the stuff distracting investors, such as tariffs. The second step is to make it possible for the crypto industry to make big announcements with better regulations. The third step is to then make these announcements. It looks like all three steps could happen this month.
💰 Global Stablecoin Push 💰
We’re finally entering a new era in the history of crypto – one marked by an increase in market participation by institutions and nation states alike. Over the past year, we’ve seen more companies create crypto treasuries than ever before. It’s easy to think of this as being solely due to the positive treatment of digital assets in the US under the Trump administration. However, the fact is that this is the result of a coordinated global push, not just a regional one.
In the past few years, a number of different countries have implemented favourable legislation for digital asset companies. For instance, the EU implemented its Markets in Crypto-Assets (MiCA) regulation in 2024; countries in the Middle East (especially Dubai and Abu Dhabi) have partnered with digital asset companies and launched pilot programs to set up a regional crypto hub; and Asian countries like Singapore, Japan and South Korea have all passed legislation providing clarity for the treatment of digital assets.
By comparison, the US had been struggling to encourage digital asset innovation due to varied political and financial agendas. Under the new Trump administration however, most of these forces have been resolved - or rather bulldozed. With the US now finally catching up, the next leg of crypto adoption will likely be spurred by a silent battle for dominance among these players within the crypto industry.
Notably, one of the top items on the agenda for these players has been to pass stablecoin regulations to encourage native, fiat-denominated stablecoin issuance. So far, USD-denominated stablecoins account for an overwhelming chunk of market share in the stablecoin niche. This obviously reflects the US dollar’s global reserve status.
However, the current reliance on USD stablecoins poses challenges for non-USD economies, including capital outflows and increased exposure to US monetary policy. Native fiat-denominated stablecoins, such as those pegged to KRW, EUR, or SGD, are seen as critical for preserving monetary sovereignty and enabling efficient local transactions. This has become increasingly important ever since payment network giants Visa and Mastercard began exploring crypto-enabled payment products a couple of years ago.
In our opinion, the current crypto dominance war among nation states is best analysed when divided into two – the Western movement (most liquidity) and the Eastern movement (most users). For context, Eastern countries excel at grassroots adoption, with high retail and P2P activity in countries like India and Vietnam. On the other hand, Western countries lead in institutional liquidity, with large transfers in DeFi and ETFs.
In the Western movement, the US has been a predominant force with USD-denominated stablecoins far outpacing all other stablecoins in market capture. However, this has been slowly changing ever since MiCA went into force late last year. There are more euro-denominated stablecoins now and they’re growing fast. For instance, the market cap of EUR-denominated stablecoins has almost doubled in the last six months. In particular, Circle’s EUR-backed stablecoin ‘EURC’ has been leading this growth. In fact, a CoinDesk report notes that EURC saw a record monthly growth of 43% in April 2025, as trade tensions with the US increased. Another report published just last week notes that the euro-dollar exchange (EUR/USD) has surged 12.88% in the first half of this year.
While the combined market cap of EUR-denominated stablecoins currently remains less than 1% of their USD equivalents, the relative strength of the euro over the dollar may contribute to more investors preferring to hold euro stablecoins. After all, such a move recently yielded a 13% gain over the dollar in less than five months for crypto influencer Legendary. We suspect the Euro stablecoin market cap will continue to see accelerated growth for the next few months – especially as major players like Societe Generale expand their stablecoin distribution networks.
As for the Eastern stablecoin movement, there are far too many players with no clear leader. Much of Asia’s liquidity is fragmented across CEXes, DeFi, and P2P platforms, driven by demand and arbitrage (e.g. the Kimchi premium). For instance, Singapore was an early lead in laying down clear regulatory frameworks for digital assets, including stablecoins. This allowed stablecoin issuers like StraitsX to launch an SGD-denominated stablecoin (XSGD) as early as 2020. Given Singapore’s role as the business hub of Asia, much of the crypto capital flows in Singapore come from a mix of institutional and retail participation.
On the other hand, if we move further east where grassroots adoption is strongest in countries like South Korea and Indonesia, the adoption of native fiat stablecoins will likely be led by their integration and use in commercial or consumer applications. This includes their integration with ‘super apps’ like WeChat or Line, which offer a wide range of services that are central to daily life in these countries.
Notably, South Korea has been aggressively pushing to issue Korean won-denominated stablecoins. Just last month, the ruling Democratic Party, under President Lee Jae-myung, introduced the Digital Asset Basic Act, a landmark bill aimed at legalizing KRW-pegged stablecoins. Specifically, it allows South Korean companies to issue stablecoins as long as they have at least 500 million won ($367,876) in equity capital, while ensuring refunds are guaranteed through reserves.
In an attempt to front-run competition from private commercial entities, eight major banks in South Korea, including Kookmin Bank and Shinhan Bank, formed a joint venture to issue a KRW-pegged stablecoin by late 2025 or early 2026, supported by the Open Blockchain and Decentralized Identifier Association.
However, given the nature of the beast when it comes to crypto usage in the region, the chances of a fintech giant like KakaoPay being the clear winner in the KRW stablecoin race are just much higher. On that note, it’s very likely that a layer 1 blockchain like Kaia could end up becoming the default chain for a Kakao-backed KRW stablecoin to be issued. After all, Kaia is the result of a merger between Finschia, the blockchain from the popular Japanese messaging app Line, and Klaytn, a network backed by the Korean messaging platform Kakao.
While the stablecoin approach from East and West may be different, it’s becoming clear that the global stablecoin market is poised for unprecedented growth. One that will include a more diverse set of stablecoins and value drivers.
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🔮 Video Pipeline 🔮
* Tokenized Stocks: How real-world stocks are being brought on-chain?
* South Korea Update: Economic turmoil leads to the gov betting big on crypto!
* Pump.Fun: How the platform transformed meme culture on Solana?
* Crypto Trading For Beginners: The ultimate guide including TA & more!
* Bretton Woods: The rise and fall of the fiat monetary system!
* Financial Repression: How governments are using tricks to fund unsustainable debt!
* Why Is Crypto Crashing? The real reasons behind recent market crashes?
🏆 What's New at CoinBureau.com This Week? 🏆
* Solo Mining and Pool Mining: An In-Depth Comparison
* Shelby Explained: The Web3 Hot Storage Protocol Aiming to Replace Centralized Clouds
* Crypto Investing and Emotions: A Guide to Avoiding Common Psychological Traps
* Can You Earn Money by Running an Ethereum Node?
* Exploring Dollar-Cost Averaging: A Practical Strategy for Crypto Investors
📖 Quote of the Week 📖
The bets that have the best chance of success are contrarian in nature. Everyone is saying we won’t see any altcoin season - it’s become the consensus view. What does that tell you?
“The time of maximum pessimism is the best time to buy.” - Sir John Templeton
Team Coin Bureau
Disclosure: Authors may own cryptoassets named in this newsletter. These are unqualified opinions, and a Coin Bureau newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor.
The Coin Bureau Editorial Team are your dedicated guides through the dynamic world of cryptocurrency. With a passion for educating the masses on blockchain technology and a commitment to unbiased, shill-free content, we unravel the complexities of the industry through in-depth research. We aim to empower the crypto community with the knowledge needed to navigate the crypto landscape successfully and safely, equipping our community with the knowledge and understanding they need to navigate this new digital frontier.
