Crypto Market Recap: Coinbase Launches Stablecoin Payments, Arizona Moves Closer To Bitcoin Reserve Bill

Here's a quick recap of the crypto landscape for Wednesday (June 20) as of 9:00 a.m. UTC.Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news. ​Bitcoin and Ethereum price update Bitcoin (BTC) is priced at US$104,797, an increase of 1.1 percent in the last 24 hours. The day's range for the cryptocurrency brought a low of US$104,004 and a high of US$106,450. Chart via TradingViewBitcoin price performance, June 20, 2025.News of easing geopolitical tensions in the Middle East supported the upswing, and boosted investor risk appetite which lifted global markets. Additionally, the Federal Reserve’s recent decision to maintain interest rates, coupled with expectations of only one rate cut this year benefited market sentiment.Ethereum (ETH) is currently priced at US$2,525.49, a 0.8 percent increase over the past 24 hours. Its lowest valuation on Wednesday was US$2,488.63, and it reached a high of US$2,564.48. Altcoin price update Solana (SOL) was priced at US$147.36, up 1.4 percent over 24 hours. SOL experienced a low of US$143.22 and reached a high of US$148.59. XRP was trading at US$2.17, a 0.3 percent increase in 24 hours. Its lowest valuation on Wednesday was US$2.14, and it reached an intraday peak of US$2.18.Sui (SUI) was trading at US$2.84, showing an increase of 0.4 percent over the past 24 hours. Its lowest valuation was US$2.78 as the markets opened, and it reached an intraday high of US$2.87. Cardano (ADA) is priced at US$0.6025, up 0.5 percent in 24 hours. Its lowest valuation on Friday was US$0.5889, and its highest valuation was US$0.6055. ​Today's crypto news to know Coinbase launches Stablecoin payments platform for E-commerce Coinbase has unveiled a new product called Coinbase Payments, designed to help online retailers accept stablecoins like USDC with minimal friction. The platform targets marketplaces such as Shopify (TSX:SHOP,NYSE:SHOP).and eBay (NASDAQ:EBAY), giving small-to-medium businesses a cost-effective alternative to credit card fees. Shopify is the first to integrate the system, allowing merchants to accept USDC payments through Coinbase’s Layer 2 Base network. The platform supports crypto wallets like Coinbase Wallet, MetaMask, and Phantom and includes features for transaction authorization, refunds, and recurring payments. With faster settlement times and reduced costs, Coinbase is positioning stablecoins as a mainstream payments rail. The system is built to mirror the traditional card infrastructure so that merchants can plug it in without deep crypto knowledge.Arizona advances bill to create state Bitcoin reserveArizona is one step closer to becoming the second US state with an official bitcoin reserve, after its Senate narrowly passed House Bill 2324. The bill allows the state to hold abandoned digital assets as unclaimed property and establishes a Bitcoin and digital assets reserve fund for those holdings. This comes on the heels of House Bill 2749, signed into law in April, which amended Arizona's forfeiture laws to recognize digital assets. HB2324 will now return to the House for final approval before heading to the governor’s desk. Earlier efforts to invest seized funds directly into BTC were vetoed by Gov. Katie Hobbs, citing concerns over crypto’s volatility. If passed, Arizona would join New Hampshire in formalizing a state-level bitcoin reserve, with similar legislation pending in Texas.Circle stock surges as Senate approves Stablecoin BillCircle (NYSE:CRCL) shares continued to rally on Friday (June 20), jumping another 11 percent after a 34 percent surge the day before, as momentum builds behind a Senate-approved bill to regulate stablecoins. The GENIUS Act, a bipartisan effort, could bring long-awaited legal clarity to stablecoin issuers like Circle, which manages the US$32 billion USDC token. Although the bill still needs approval from the House and President Trump’s signature, investors are already optimistic. Circle stock now trades at US$221, up from an IPO price of just US$31—signaling massive investor confidence amid a changing regulatory climate. Don't forget to follow us @INN_Technology for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.