The New York Stock Exchange (NYSE) has announced plans to launch a fully independent, blockchain-based trading venue dedicated to tokenized securities. This new digital market will operate 24/7, in parallel with the traditional exchange, and will feature instant settlement using stablecoin rails. Fintech analyst Simon Taylor explained the significance, stating, "Think about what this means: NYSE will run two exchanges. The old one: 9:30-4:00 EST, T+1 settlement, bank wires. The new one: 24/7, instant settlement, stablecoin rails. They're not choosing between traditional and digital."
The announcement was praised by former Binance CEO Changpeng 'CZ' Zhao, who labeled the move as "bullish for crypto and crypto exchanges." This development comes as the broader cryptocurrency market shows signs of weakness. Bitcoin's rejection near the $98,000 level triggered a pullback toward $90,000, impacting major altcoins.
XRP has seen significant technical deterioration, flashing a death cross on its chart just days after a golden cross, leading to a nearly 4% price drop to around $1.90. Analysts note it is now confined to a tight range between $1.97 and $2.06, with key support at $1.80.
Shiba Inu (SHIB) experienced a sharp 7% decline that briefly broke short-term support. However, the market response was notably positive, with aggressive dip-buying creating a long lower wick on the daily candle, indicating buyers are still active despite bearish sentiment.
Meanwhile, Cardano (ADA) continues to struggle, slipping toward the critical $0.33 support level after a rejection at $0.40. The broader risk-off mood has investors rotating into safe-haven assets like gold, putting pressure on riskier crypto assets.
