Summary Despite a volatile journey, DeFi Technologies Inc. remains a speculative buy due to its growing assets under management (AUM). Moreover, the Company has significantly improved its financial performance, turning large losses into net income over the past three years. Year-end results will be reported in April 2025; I anticipate that those results, which will reflect the Trump crypto rally, should serve as a catalyst to propel the stock higher. Introduction When I last covered Defi Technologies Inc. ( OTCQB:DEFTF ) (the " Company ") for Seeking Alpha on December 7, 2021, the crypto market, including the Company, was in a bubbly bull market. The Company's stock price was $2.87 then compared to $3.08 today (1/16/25). While on the surface it might look like the stock price has been largely range bound over the period, the reality is that the ride from then to now has been an epic roller coaster as shown in the chart below. Seeking Alpha Indeed, the Company would go on to lose more than 95% of its value at its nadir during the course of the crypto bear market of 2022-2023. It is more than three years later, and for the reasons described herein, I still believe the Company remains a BUY and I include the Company in the speculative bucket of my Model Asset Allocation . A Growing Business Business Segments Per it most recent Management Discussion & Analysis (" MD&A "), the Company generates revenue via a half dozen business segments: 1. Valour Asset Management (" Valour "). Valour is the Company's key business segment, offering Exchange Traded Products (“ ETPs ”) that "synthetically track the value of a single DeFi protocol or a basket of protocols." See MD&A linked above. Valour's products are mainly offered in Europe. As of September 30, 2024, such products offer exposure to the following, among other protocols: Bitcoin ( BTC-USD ); Ethereum ( ETH-USD ); Solana ( SOL-USD ); Polkadot ( DOT-USD ); Cardano ( ADA-USD ); Uniswap ( UNI-USD ); Cosmos ( ATOM-USD ); Avalanche ( AVAX-USD ); Chainlink ( LINK-USD ) and Enjin Coin ( ENJ-USD ). See MD&A above for further details (Note 12, page 23). 2. The Company's DeFi Alpha segment operates an arbitrage trading desk (the " Trading Desk "). The Trading Desk seeks to "identify low-risk arbitrage opportunities within the crypto ecosystem." Per the Company's website : With a primary focus on both centralized and decentralized markets, the trading desk ensures minimal exposure to market and protocol risks, effectively mitigating revenue volatility. Since its inception, DeFi Alpha has delivered significant results, generating over C$133.1 million (US$97.5 million) in cash and digital asset equivalents in 2024." 3. The Stillman Digital segment is, according to the MD&A, "a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement and technology." The Company acquired Stillman Digital in October 2024, issuing Company shares to finance the acquisition. The Company's year-end financials should provide investors with initial insights into this segment's performance. 4. The Company's DeFi Ventures segment invests in decentralized finance businesses, seeking to maintain a diversified portfolio of companies. The portfolio companies of Defi Ventures are described here . 5. Per the MD&A, the Company's DeFi Infrastructure segment offers "governance services and products within the DeFi ecosystem." For more information regarding services and the Company's partners, see this link . 6. Finally, the Reflexivity LLC business segment is a provider of boutique crypto industry research. Co-founded by Anthony Pompliano and Will Clemente, the Company acquired Reflexivity LLC in the first quarter of 2024. *** Notably, in my prior articles concerning the Company, including my original article linked here , I noted that the Company retained an interest in crypto miner, Hive Digital Technologies Inc. ( HIVE ). Today, however, that investment no longer appears to be on the books of the Company. Certain Recent Developments After the close of the third quarter of 2024, the Company has made some positive announcements that demonstrate positive momentum for Valour. Per the MD&A, those developments include: In October 2024, Valour listed the Valour Sui ( SUI-USD ) ETP on the Spotlight Stock Market in Stockholm, Sweden (the " Spotlight Stock Market "). SUI, a protocol that I own, is a Layer 1 blockchain with a high quality management team (previously part of the Diem project of Facebook/Meta Platforms, Inc. ( META )). Also in October 2024, Valour listed the first-ever Valour Bittensor ( TAO-USD ) ETP on the Spotlight Stock Market, providing investors with access to Bittensor's "decentralized machine learning protocol." [The Author is unfamiliar with this protocol.] A month later, in November 2024, the Company announced that Valour and affiliates had introduced a new physically backed, high-yield Bitcoin ETP for German investors in collaboration with Core Foundation . Net Income The Company has grown revenues and net income materially over the last three years. (Canadian Dollars) September 30, 2021 September 30, 2024 Total Revenues 9,967,376 152,436,040 Total Expenses 25,376,938 55,199,666 Net Income (21,454,530) 95,145,316 Indeed, the Company has turned large losses into profits. Keep in mind too that the bull market in crypto accelerated in the fourth quarter of 2024 in anticipation of (and following) the Trump victory. The Company is estimated to report 2024 year-end earnings on April 2, 2024. I am anticipating that the Company will have a solid quarter as its assets under management (" AUM ") more than doubled year over year (and exceeded $1 billion (Canadian)). This could be a big catalyst for the stock price, particularly if the Company can continue to show overall growth in AUM and net inflows into its ETPs. Balance Sheet (Canadian Dollars) September 20, 2021 September 20, 2024 Current Assets 264,598,501 832,070,950 Current Liabilities 246,809,926 789,761,126 Current Ratio ** 1.07 1.05 Total Assets 372,062,311 928,959,248 Total Liabilities 246,831,974 789,761,126 Shareholder Equity 125,230,337 139,198,122 Shares Outstanding (Diluted) 189,037,949 339,793,738 ** Not included in the linked balance sheets included above. Added by Author. The balance sheet has grown over the last three years, but liquidity has not necessarily improved as the Current Ratio has actually declined. Shareholder Equity has slightly improved, but there has been significant shareholder dilution along the way. With profits and AUM growing, however, it is important for the Company to begin to improve its liquidity profile. I will be looking at year-end results closely in this regard. A risk I see is that management is possibly doing too much and making investments in too many verticals. Other risks are noted or referenced below. Risks Key risks are enumerated in the MD&A linked above. Notably, however, the decline in the Canadian dollar is having an adverse effect on the Company. The chart below shows the performance of the Canadian dollar via the Invesco CurrencyShares® Canadian Dollar Trust ETF ( FXC ) and the US Dollar Index ( DXY ) over the last three years. Seeking Alpha Moreover, a large number of the Company's ETPs are listed on European exchanges, and the recent trend for the Euro has been downward as well. The chart below shows the performance of the Euro via the Invesco CurrencyShares® Euro Currency Trust ETF ( FXE ) and the US Dollar Index ( DXY ) over the last three years. Seeking Alpha Needless to say, ownership of the Company includes material foreign currency risk associated with the Canadian dollar , the Euro and certain other European currencies. Further, due to the Company's size (under $1 billion market cap) and it being domiciled in Canada, it is not included in any large stock indexes (at least as far as I can tell) and, as such, the Company is not the beneficiary of material passive flows. This could prove to be a competitive disadvantage. Lastly, with significant exposure to alt-coins, the Company is very volatile. Since it began trading on public markets (in or about March 2020), it makes Bitcoin look very dull by comparison as shown in the chart below. Seeking Alpha In short, this kind of volatility is not for everyone. Conclusion With its fast growing asset management business, the Company is a speculative BUY . Moreover, it continues to hold promise as a call option on the crypto/DeFi space. Consequently, it holds a place in the speculative bucket of my Model Asset Allocation .
The post These Altcoins are Set to Skyrocket on Donald Trump’s Inauguration Day appeared first on Coinpedia Fintech News The market has faced many legal and government challenges and it now hopes for better policies with the new administration. Supporters are likely to have a say in U.S. technology rules after President-elect Donald Trump, who takes office Monday, appointed several to key positions. As a result, the crypto market is already surging exponentially, with several altcoins set to skyrocket on 20 Jan. Interestingly, Official Trump meme coin, Solana and XRP, might create new ATHs on Monday. A ‘Trump Pump’ Might Surpass Buyers’ Expectations With less than a day until President-elect Donald Trump’s inauguration on January 20th, traders are excited to see how his administration, which is rumored to be supportive of crypto, will influence the industry’s future. Also read: XRP Lawsuit News: Ripple’s Fight with SEC Faces New Twist as Trump Promotes Meme Coin On Friday, Bitcoin reached its highest price of 2025, with investors looking forward to Donald Trump’s second presidential inauguration on January 20th. Trump is said to be planning to sign over 100 executive orders right away, some of which might address Bitcoin and the broader crypto market. As a result, several altcoins, along with a new meme coin launched by Donald Trump, have begun to see significant increases in value. However, there is also worry about potential pump-and-dump schemes in the market, although the likelihood of this happening is quite low. Official Trump Price Analysis Donald Trump announced a new cryptocurrency called the Trump memecoin just days before his inauguration. Despite concerns of potential scams, the excitement drove the memecoin’s value on the Solana blockchain to soar to a market capitalization (FDV) of over $38 billion. The hype is expected to grow as the meme coin endorsed by the incoming president boosts trader confidence. Currently, the Official Trump meme coin is trading at $38.8, having surged over 190% in the last 24 hours. It is anticipated that the Trump coin will maintain its buying demand on January 20th. With the price chart showing a rising wedge pattern, the coin’s value is predicted to skyrocket above $40. The target price for January 20th is set between $70 and $80. Solana (SOL) Price Analysis Solana price continues to surge above immediate resistance lines, reaching its November highs. As of writing, SOL price trades at $270, increasing over 8.9% from yesterday’s rate. The 20-day average price has begun to rise, and the Relative Strength Index (RSI) has moved into overbought territory, hinting at a minor retest of immediate support level. There’s a slight resistance at $303, but it’s expected that this price can be surpassed. If so, the SOL/USDT pair might increase to $350 tomorrow. XRP Price Analysis XRP continues to surge due to the fact that the new SEC might bring fresh crypto policies, impacting Ripple’s legal lawsuit positively. XRP price has been surging exponentially and is preparing for further surges tomorrow by consolidating at $3.2. For a robust surge, XRP needs to hold above the EMA20 trend line. As the RSI level continues to hover around 60 level, XRP price might skyrocket toward $3.8-$4.
Solana’s volume in the decentralized exchange industry jumped to a record high on Sunday, Jan. 19. According to DeFi Llama , Solana’s ( SOL ) DEX protocols handled $19.47 billion in volume, up from $19.37 billion the previous day. The previous daily record was $7.5 billion in November last year. This surge happened because of the recent launch of the Official Trump ( TRUMP ) meme coin that launched on Friday, Jan. 17. So far, the token has gained a market capitalization of over $7.5 billion, while its 24-hour trading volume jumped to $11 billion. You might also like: Official Trump meme coin surges 330%, critics raise concerns Most of this volume is happening in Solana DEX networks, led by Meteora, Raydium, Orca, and Lifinity. Other centralized exchanges like OKX, Binance, Bitget, and MEXC have also listed the token and are starting to gain some market share. Solana’s DEX volume was significantly higher than other leading layer-1 and layer-2 chains. Ethereum’s ( ETH ) protocols handled $3.63 billion in the last 24 hours, while BNB Chain, Base, and Arbitrum handled $3 billion, $2 billion, and $1 billion, respectively. Solana’s weekly volume has also jumped to a record high of over $56 billion, much higher than Ethereum, BNB, Base, and Arbitrum combined. You might also like: https://crypto.news/80-of-trump-coin-for-insiders-100-grift-coffeezilla/ Other Solana meme coins also contributed to this volume growth. Bonk ( BONK ) jumped by 10%, with its 24-hour volume reaching over $1 billion. Fartcoin price jumped by almost 30%, with its volume reaching $557 million. This performance led to higher fees for the Solana blockchain. Data by TokenTerminal shows that the fees jumped to $4.7 million, the highest level since Jan. 8. Solana hits all-time high Solana price chart | Source: crypto.news These fundamentals and the rising SOL ETF approval hopes have pushed the token to a record high. It jumped to a high of $275 on Jan. 19, crossing last year’s high of $265 and invalidating the double-top pattern that formed. A double-top is a risky sign that often leads to a bearish breakout, initially to the neckline. In this case, the neckline was at $170, its lowest point this month. Solana’s price has remained above all moving averages, while the Money Flow Index has tilted upwards and is nearing its overbought level. Therefore, the coin will likely keep rising as bulls target the key resistance at $281, the extreme overshoot of the Murrey Math Lines. Read more: Top 3 reasons why Solana price rally has more room to go
According to recent data from Dune Analytics, the crypto token TRUMP on the Moonshot platform has witnessed a remarkable trading volume of $2,927,213.4 in just 24 hours, positioning it as
The post XRP Lawsuit News: Ripple’s Fight with SEC Faces New Twist as Trump Promotes Meme Coin appeared first on Coinpedia Fintech News As President-elect Donald Trump prepares to take office on Monday as the 47th president of the United States, he has made a surprising move by launching his own cryptocurrency, the $TRUMP coin. Despite his previous hesitations about cryptocurrency, Trump had expressed his belief that America would become “the crypto capital of the planet” once he returned to Washington. The timing of the launch has raised some eyebrows. Critics have accused Trump of capitalizing on his imminent presidency to profit from the popularity of cryptocurrencies, particularly meme coins. However, some experts are focusing on how this move could have an impact on ongoing legal battles in the crypto space, particularly the high-profile lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Ripple Lawsuit: Could Trump’s $TRUMP Coin Affect the Case? Attorney Bill Morgan recently discussed thE implications of Trump’s actions on the Ripple lawsuit. Morgan pointed out that the appeal of Judge Torres’ finding against Ripple’s fair notice defense is now looking more promising. For context, the SEC has been pursuing legal action against Ripple, claiming that the company’s sale of XRP violated securities laws. However, Ripple argues that it had no clear notice that its sales of XRP were subject to SEC registration requirements. Morgan drew attention to Trump’s stance on the issue of cryptocurrencies and investment contracts. While Trump has issued and promoted the $TRUMP meme coin, he does not believe that such tokens should be classified as investment contracts that require SEC registration. This is a key issue in the Ripple lawsuit, where the SEC argues that XRP should be treated as a security, while Ripple maintains that it is a digital asset. The @Ripple appeal of Judge Torres finding against Ripple’s defense that there must be a contract or post sale obligations is looking good. After all the President of the USA thinks a token with no post sale obligations to buyers can be issued and promoted without being… https://t.co/OByrCesd8j — bill morgan (@Belisarius2020) January 18, 2025 Given that Trump has issued a speculative meme coin without adhering to the traditional regulatory frameworks that the SEC enforces on other tokens, Morgan questioned how the SEC v. Ripple case could continue under these circumstances. He said that Ripple’s sales of XRP, like the promotion of $TRUMP, did not involve any post-sale obligations, which is a point of contention in the Ripple case.
With bitcoin maintaining a sustained trajectory well beyond the $100,000 threshold for over 48 hours, a fascinating revival of dormant bitcoin addresses has been observed, rekindling activity after years of profound dormancy. From Dust to Millions: Dormant Bitcoin Wallets Roar Back to Life Legacy wallets, many untouched for nearly a decade, are reawakening as BTC
Bitcoin price remains high while altcoins see declines. Trump’s presidency may influence cryptocurrency regulations significantly. Continue Reading: Get Ready for a Crypto Surge as Trump Takes Office The post Get Ready for a Crypto Surge as Trump Takes Office appeared first on COINTURK NEWS .
The ‘official’ memecoin of the second Donald Trump administration will be listed on major cryptocurrency exchanges including Coinbase and Binance, according to announcements from the companies. Coinbase posted on Sunday that it plans to list the TRUMP token. The announcement came via its Coinbase Assets X account, which provides information on new assets, however the exchange did not provide a concrete timeline for listing. Binance said it plans to open trading for the TRUMP token on the the morning of Jan. 19. The token is already trading on many other centralized exchanges, such as Bitget, KuCoin and Kraken according to CoinGecko. On-chain data shows that the token has a market cap of just over $7.6 billion, and trading volume of approximately $15 billion. While many of the largest crypto exchanges have eagerly embraced Trump’s official memecoin, the first Trump-themed token, one of the original Political Finance (PoliFi) tokens, had trouble getting listed on exchanges. As CoinDesk reported earlier this year, ByBit and OKX rejected the team’s application to list the token given concerns about the project being too political. Kraken did not respond to their application to list, and would not discuss the matter on the record. The first Trump token, the Ethereum-based MAGA, is down 84% from its June high of $17.80, according to CoinGecko , but continues to be actively traded. MAGA dumped hard after the launch of the officialTrump token, falling from $3.50 to $1.44 over the weekend with its market cap declining from $158 million to $64 million. The token has slowly recovered after the initial fall likely due to general interest in Trump-themed tokens on the eve of the inauguration. The tokenomics of TRUMP have been criticized by many online, who have pointed out that 80% of the token supply is controlled by wallets owned by CIC Digital. CIC Digital LLC is the Trump Organization affiliated firm that launched Trump Non Fungible Tokens (NFTs) in 2023. Data from OpenSea shows that there’s a second wave of interest in these NFTs with over 2,800 sales in the last 24 hours worth over 765 ETH ($2.5 million).
In a recent statement on January 19th, Elizabeth Warren, a prominent figure within the U.S. Senate Banking Committee, raised significant concerns regarding Howard Lutnick, the Commerce Secretary nominee put forth
The post 2024 Belonged To Fantom And Sui, But Elluminex Rises As The Next Pioneer In DeFi For 2025! appeared first on Coinpedia Fintech News In 2024 Fantom (FTM) and Sui (SUI) took the spotlight, raking in massive returns that saw them scale the crypto ranking with ease. However, Elluminex (ELX) is set to outperform them both with its unique premise that could revolutionize the entire DeFi space and unlock the latent potential of the TON blockchain. Let’s dive deeper and discover why this project could be one of the hottest plays in 2025. How Elluminex Is Pioneering DeFi On TON TON is the fastest-growing blockchain in the Layer 1 space, tapping directly into Telegram’s massive 950-million user base. Although TON already asserted itself in the crypto gaming niche with viral Telegram-based titles like Notcoin and Hamster Kombat, it still lacks a unified DeFi solution, meaning significant revenue is being left on the table. Ethereum’s numbers and usability skyrocketed when Uniswap was released, the same happened with Binance Smart Chain and Pancake Swap. Soon, TON will have its very own DeFi protocol — Elluminex . However, Elluminex is not just another run-of-the-mill decentralized exchange, it brings forward a 360-degree ecosystem that addresses all inefficiencies commonly found in old-guard protocols. Through its revolutionary cross-chain bridge, Elluminex will integrate all major blockchains and allow them to interface with one another. This in turn will translate into a deep, unified liquidity pool, as liquidity is sourced from the various chains, allowing users to trade and invest with minimal slippage and greatly reduced waiting times. At the core of the Elluminex ecosystem is the $ELX utility token, which will power key features like governance and staking. Holders of the token can opt to stake their $ELX and earn up to 18% APY. This model not only ensures long-term holding but combined with the automated burn mechanism, deflationary pressure will drive the price of $ELX much higher, allowing crypto players to to benefit from both staking rewards and appreciation gains. The launch of the $ELX presale is yet to be unveiled, and once it is live, early buyers will have the opportunity to build a future-proof $ELX position at a discounted price. Keep an eye on Elluminex’s socials and official website to stay up to date with the latest developments. Fantom Is In The Red, Will It Go Lower? After bottoming out during the summer slump Fantom (FTM) skyrocketed with a triple-digit surge, peaking at $1.43 just a few days ago. However, as the market-wide correction began, Fantom faced significant declines that saw it breach below $1.20. At the time of writing, Fantom trades at $1.15 following a 13.5% intraday decline. The 90% rise in trading volume underscores significant trader activity happening at these levels, and over the last 24 hours, about $950 million worth of FTM has changed hands across platforms. Over the last year, Fantom has been finalizing its rebrand to Sonic and since yesterday, the new Layer 1 is now live. FTM holders will be able to swap their tokens for the native S token on a 1:1 ratio. Staking and governance features will also be live soon. This revamped Fantom ecosystem boasts 10,000 TPS, near-instant finality, and an upcoming $260M airdrop, positioning Sonic as the successor to Fantom’s legacy. Solana-Killer Sui Continues To Make Strides In 2024 Sui (SUI) topped headlines and positioned itself among the leading Layer 1 platforms. This has also been reflected by its stellar performance, as Sui has been in up-only mode for months, breaking to a new all-time high several times in a row. The latest Sui peak was at $4.93 but as traders booked profits, a pullback followed, and today, Sui sells for $4.73 with a slight 1.5% increase on the daily timeframe. In terms of raw numbers, Sui’s 120,000 transactions per second could pose a threat to Solana’s dominion as the fastest blockchain in the space. Just recently, Sui partnered with SatLayer to integrate Bitcoin’s security and liquidity into its ecosystem, enabling Bitcoin restaking and DeFi (BTCfi) capabilities. This collaboration is set to unleash Bitcoin’s immense liquidity for Sui’s apps and infrastructure, empowering developers with enhanced scalability and users with secure DeFi options. For more information about Elluminex (ELX) visit the links below: Website: https://elluminex.com/ Twitter/X: https://x.com/elluminex Telegram: https://t.me/Elluminex