ETH falls below $1,600, up 1.37% in 24 hours

2026-06-28 by admin

TechFlow news, June 28 – According to HTX market data, ETH has fallen below $1,600, now reporting at $1,599.44, with a 24-hour increase of 1.37%.

DeepFlow TechFlow news, June 29th, as reported by The Block, the Bank for International Settlements (BIS) stated in its 2026 Economic Report that current stablecoins fail to meet monetary standards across four key dimensions: uniformity, resilience, interoperability, and integrity. Their operational model more closely resembles ETFs rather than payment instruments. The report estimates that even if stablecoin market capitalization expands to $1 to $3 trillion, the net effect on economic output would remain slightly negative, while intensifying pressure on bank funding and weakening credit capacity.BIS also warns that emerging economies face a risk of "stablecoin dollarization," which could erode their monetary sovereignty. The report recommends anchoring to central bank money and building an alternative framework—a "unified ledger" encompassing tokenized central bank reserves and commercial bank money—using Project Agora, a cross-border payment prototype, as proof of feasibility.

PANews, June 29th. According to Jinshi citing AXIOS, a senior US official stated that the US and Iran have agreed to stop attacking each other. The two sides plan to meet in Doha, the capital of Qatar, on Tuesday to resolve the dispute over the Strait of Hormuz. Previously, just 11 days after the signing of the ceasefire memorandum, both sides launched attacks again, and Trump threatened to restart the war and "finish the job", making the situation precarious. A senior US official said: "We have decided to stop all military operations." Here, he used military terminology for attacks and other offensive actions. According to a person familiar with the talks, the meeting originally scheduled for Tuesday in Switzerland aimed to address Iran's nuclear program, but after the escalation of the situation, the venue changed and the focus shifted back to the Strait of Hormuz. According to a US official and a source, Nick Stewart, who leads the US technical team, is expected to attend the talks.

PANews, June 29, according to The Block, the Bank for International Settlements (BIS) stated in its Annual Economic Report that stablecoins still lack key monetary attributes such as 'singularity, resilience, interoperability, and integrity'. Their prices may deviate from the peg in secondary markets, and the redemption process also involves friction, making them 'more like ETF shares than a means of payment.' The report estimates that even if the stablecoin market cap reaches between $1 trillion and $3 trillion, its net impact on economic output would be 'minimal', and it could potentially suppress credit by pushing up bank financing costs. The BIS warned that emerging markets face the risk of 'stablecoin dollarization,' as widespread holdings of dollar-denominated stablecoins by residents may weaken local monetary sovereignty. The report noted that currently about 99% of fiat-backed stablecoins are pegged to the US dollar, dominated by USDT and USDC, with a total market cap of approximately $320 billion. The BIS once again proposed the 'unified ledger' vision, aiming to integrate tokenized central bank money and commercial bank deposits within a regulated framework, citing the 'Project Agorá' involving eight central banks and over 40 institutions as evidence of the model's feasibility.