Shopify's 15min chart sees MACD Death Cross, KDJ Death Cross signal.

Shopify's 15-minute chart has triggered a MACD Death Cross and KDJ Death Cross, indicating a potential continuation of the downward trend in stock price. This suggests a shift in momentum towards a decline and may lead to further decreases in stock price.

June 17, 2025

In a significant development for the crypto market, Phantom Wallet has announced an integration with Shopify stores on the Base network, enabling USDC payments. This integration, powered by Stripe, is expected to roll out to millions of retailers soon. The announcement, made on June 12, 2025, marks a substantial step towards mainstream crypto adoption and could significantly impact the utility of USDC and the Base network.

The integration allows users to connect their Phantom wallets to make USDC payments at select Shopify stores. This move is expected to boost the adoption of stablecoins like USDC, which are pegged to the U.S. dollar. The announcement has already sparked increased interest in USDC and related tokens. Within hours of the announcement, USDC’s trading volume spiked by 12.5% on major exchanges like Binance and Coinbase [1].

The Base network, which is supported by this integration, also saw a price increase of 3.8% within two hours of the news, reaching $0.25 at 12:00 PM UTC [1]. This development is part of a broader trend where traditional stock markets are showing increased interest in blockchain solutions. The S&P 500 fintech index rose 1.2% on the same day, reflecting this interest [1].

From a trading perspective, the increased utility of USDC as a payment method could drive sustained demand for the stablecoin, particularly in trading pairs like USDC/BTC and USDC/ETH. These pairs saw volume increases of 8.3% and 9.1%, respectively, on Binance as of 1:00 PM UTC on June 12, 2025 [1].

The integration also hints at growing institutional interest in crypto payment infrastructure, which could spill over into crypto-related stocks. Coinbase (COIN) saw a 2.5% price increase to $245.30 by 4:00 PM UTC on the NASDAQ, reflecting this interest [1]. Traders should monitor correlations between COIN stock movements and major crypto assets like Bitcoin (BTC) for potential arbitrage opportunities.

Technical indicators also suggest that the market remains bullish. USDC’s price stability held firm at $1.00 across exchanges like Kraken and Coinbase as of 6:00 PM UTC on June 12, 2025, with no significant deviations despite the volume surge. However, the Relative Strength Index (RSI) for Base network tokens hovered at 62 on the 4-hour chart, indicating potential overbought conditions but still room for upward movement before hitting resistance at $0.28 [1].

Institutional money flow appears to be shifting towards crypto infrastructure plays, with ETF inflows for Bitcoin-related funds increasing by $45 million on June 12 [1]. This integration not only boosts sentiment for stablecoins and layer-2 solutions like Base but also highlights the growing synergy between traditional stock markets and crypto ecosystems.

References:
[1] https://blockchain.news/flashnews/phantom-wallet-enables-usdc-payments-on-base-via-shopify-and-stripe-crypto-shopping-expansion