Dispatch #252: How crypto becomes modern finance

In this patch of your weekly Dispatch:

• Bitcoin’s big candle
• Ether’s big week
• Nexo’s big green

Market cast

BTC: Bullish signs all over the charts

Momentum may appear muted at first glance, but a broader view reveals key signals building beneath the surface. On the weekly chart, Bitcoin’s trend remains firmly bullish, supported by key momentum indicators. The Average Directional Index (ADX) is approaching the 25 level, signaling a strengthening trend. The Moving Average Convergence Divergence (MACD) remains positioned above the zero line, reinforcing positive momentum. The Relative Strength Index (RSI) is pushing toward overbought territory, while the Stochastic Oscillator is holding above the 80 mark without showing signs of exhaustion or reversal. 

On the daily chart, the picture is more neutral, with price consolidating near the top of its multi-week range. The RSI is flat, the MACD is slightly positive, and the Stochastic Oscillator is beginning to show potential selling pressure. The ADX remains subdued, confirming a lack of directional strength in the short term. Bitcoin is currently testing resistance around $110,000. A decisive close above this level could pave the way for a move toward $112,000, with an extended target near $120,000. On the downside, support is seen at $105,000, followed by the key psychological level at $100,000.

The big idea

The three pillars of modern finance

We’ve spent a lot of time unpacking Bitcoin’s rise — from its role as digital gold to its growing presence on corporate balance sheets. But while Bitcoin often takes the spotlight, it’s far from the only big idea reshaping the financial world.

This week, we zoom out to look at the broader transformation sweeping through digital assets — a shift that goes beyond price charts and market cycles. Three foundational trends are converging to redefine how wealth is stored, moved, and built across the global economy. Together, they show why crypto is no longer just an asset class — it’s infrastructure. Much like the Nexo platform.

Tokenization is turning traditional assets — from U.S. Treasuries to private credit — into programmable financial instruments. And it’s no longer just theory: in the first half of 2025, the tokenized real-world asset (RWA) market surged over 260% to $23 billion, with capital flowing in from both crypto-native and institutional players.

The story isn’t just in the numbers — it’s also about where innovation is happening. This month, Dubai’s DFSA approved the QCD Money Market Fund (QCDT), the first tokenized money-market fund officially launched in the DIFC. Backed by Qatar National Bank and built by DMZ Finance, the fund brings Treasuries on-chain for use cases ranging from stablecoin backing to exchange reserves and Web3 payments.

Regulated. Yield-bearing. Transparent. The next-generation financial stack is being built — and increasingly, it’s anchored in hubs like Dubai and Doha. According to a report by Ripple and BCG, the global RWA tokenization market could reach $18.9 trillion by 2033. The race is on.

Meanwhile, stablecoins have quietly become crypto’s killer app — powering over $1.42 trillion in monthly volume on Ethereum. With a total market cap north of $250 billion, they’re no longer just liquidity tools. They’re the invisible rails behind global trading, lending, and increasingly, real-world payments.

Now, Big Tech is paying attention. Uber’s CEO recently called stablecoins a “practical benefit” beyond speculation. Apple, Airbnb, and others are exploring their use to reduce fees and simplify cross-border payments. As regulation catches up, dollar-pegged assets are on track to jump from DeFi into the broader financial bloodstream.

Then there’s Bitcoin. Its evolution from speculative asset to strategic reserve continues. Over 800,000 BTC now sit on public company balance sheets, a trend accelerated by 2025’s fair-value accounting rule.

At the same time, spot Bitcoin ETFs in the U.S. have seen their strongest inflows in months — even as some short-term trades unwind. And states like California and Texas are exploring Bitcoin’s role in public finance frameworks.

This isn’t just about price — it’s about positioning. Bitcoin is becoming a systemically relevant financial tool: a macro hedge, a treasury allocation, a liquidity play.

Crypto is becoming the foundation of the next global financial architecture — where assets are tokenized, money flows frictionlessly, and value storage becomes a strategy. From Qatari Treasuries on-chain to stablecoins in ride-sharing apps, the structure is forming in real-time.

Bitcoin may have opened the door, but these three trends are constructing the framework for the future of finance. And if you're looking for a platform already aligned with that future — you know where to find it.

Nexo spotlight

We hit the green

Golf is a sport built on discipline, patience, and long-term focus — qualities that resonate deeply with how we think about wealth at Nexo. So when the opportunity came to partner with the DP World Tour, it felt like a natural next step.

We’re now the Official Digital Wealth Partner of the DP World Tour through 2027, marking a meaningful step in the company’s  global journey.

Our highlight is the Nexo Championship, formerly the Scottish Championship, taking place this August at Trump International Golf Links in Scotland. We’ll also be present at six major tournaments across Europe and the Middle East, including the Genesis Scottish Open and the season-ending DP World Tour Championship in Dubai.

This isn’t just about visibility. It’s about being part of a world where preparation and perspective matter — values we share with the game and our community.

Ethereum

Quiet momentum meets growing conviction

Ethereum is steadily gaining institutional favor. Last week marked its 11th straight week of inflows, adding $226 million and bringing the yearly total above $3 billion. On a relative basis, Ethereum is outpacing Bitcoin, with inflows averaging 1.6% of total assets under management — roughly twice the pace.

Beyond the numbers, the narrative is shifting. Ethereum’s growing role in powering tokenized real-world assets is strengthening its long-term appeal. As stablecoins, securities, and payment infrastructure increasingly move on-chain, Ethereum is positioning itself as the core layer of programmable finance.

The broader investment community is taking note. With market structure evolving and new products on the horizon, Ethereum’s institutional phase may just be getting started.

Macroeconomic roundup

A light week full of potential

FOMC Meeting Minutes (July 9): The release of the June FOMC minutes will provide insight into the Fed’s latest thinking on inflation and labor market dynamics. Any signs of a dovish tilt could boost risk assets, including Bitcoin. A reaffirmation of a hawkish stance may lift the dollar and weigh on crypto.

Initial Jobless Claims (July 10): Weekly jobless claims are due, with the prior figure at 233,000. A higher number may reinforce the labor-softening narrative and lift rate-cut bets—bullish for crypto. A lower figure could support the Fed’s current stance, strengthening the dollar.

Fed Governor Waller Speech (July 10): Remarks from Governor Waller will be closely watched. Dovish signals could support risk sentiment, while hawkish comments may pressure digital assets.

The week’s most interesting data story

BTC breaks out, but it’s not just price

Bitcoin just logged its first weekly close above $109,000, cracking resistance after three failed attempts and triggering renewed options activity. Traders are now eyeing September $130,000 calls, betting on a Q3 breakout.

But the real signal lies beneath the surface: over $1 billion in institutional BTC was scooped up after last week’s dip, while exchange deposits hit a seven-year low. Add in $85 million in liquidation clusters near $107,000, and you’ve got a market primed for volatility — and strength. Price is moving, but behavior is what matters. And right now, big players are holding tight.

The numbers

The week’s most interesting numbers

• $7.4 billion – Tokenized treasuries and money market funds soar 80% in 2025.
• $258.6 million – Ethereum ETF inflows build as institutions rotate back in.
• $2 billion – Two ancient Bitcoin wallets reawakened after 14 years.
• $200,000 – Forecasted Bitcoin price target for the next 12 months.
• $109,216 – Bitcoin closes above $109.000 for the first time ever.

Hot topic

What the community is discussing

Is this the future of finance visualized?

A bull if there ever was one.

We’ve hit the golf course (hot).

Dispatch is a weekly publication by Nexo, designed to help you navigate and take action in the evolving world of digital assets. To share your Dispatch suggestions and comments, email us at [email protected].