Matador Technologies is following in MicroStrategy’s footsteps, sharing a board member with Japanese firm Metaplanet—another Bitcoin buyer.
After months of turmoil and a settlement with Riot Platforms, Bitfarms’ stock performance remains disappointing. Is a rebound for $BITF overdue, or is the company slowly losing its position in the market? Let’s dive in! Bitfarms Faces a Crossroads The following guest post comes from Bitcoinminingstock.io, the one-stop hub for all things bitcoin mining stocks,
XRP, the native cryptocurrency of global payment company Ripple, has showcased strong resilience to the current market correction.…
According to blockchain tracker Whale Alert, XRP whales have seen a significant transfer of 60 million XRP, valued at $132,202,106, between two unidentified wallets. This large transaction has drawn attention as market analysts predict a possible rally in XRP’s price, with some suggesting a new all-time high could be on the horizon. Massive XRP Whale Transfer Sparks Speculation The 60 million XRP transfer, first reported by blockchain monitoring platforms, involved a substantial movement of XRP tokens, raising questions about potential strategies by large holders. XRP whale movements are often linked to preparation for major market events or price shifts especially with the XRP ETF increasing launch potential. EGRAG Crypto, a notable market commentator, expressed optimism about XRP’s trajectory, predicting a surge to $27. He pointed out that XRP is hovering above its Break of Structure (BOS) level while aligning with the 21 Exponential Moving Average (EMA), which could pave the way for a bullish breakout. Additionally, data from CryptoQuant revealed that XRP is the most traded alternative cryptocurrency on Binance’s futures market this December, with $116.6 million in trading volume. Analysts suggest this heightened activity may indicate increasing interest in the asset ahead of the potential Santa Claus rally. Historical Patterns Indicate Potential Breakout Market chartists have drawn comparisons between XRP’s current price movements and its behavior during the 2017 bull run amid the XRP whales moves. A trader, known as Crypto Vilian, highlighted XRP’s price pattern, which mirrors its 2017 trajectory of a steep decline, recovery, consolidation, and eventual explosive breakout. Crypto Vilian noted that XRP price recently broke out of a prolonged bearish trend, entering a consolidation phase that historically preceded significant upward movements. He also suggested that XRP’s market cap could exceed $1 trillion in this cycle, translating to a price of over $17 per token. However, he emphasized that this outcome would depend on broader market trends, particularly Bitcoin’s performance. XRP Price Faces Short-Term Bearish Patterns Despite long-term bullish expectations, XRP’s daily chart reveals a descending triangle pattern, indicating potential short-term bearish pressure. According to TradingView, the support level lies near $2.19, while the downward trendline of lower highs may lead to a drop to $1.69 if breached. On the other hand, analysts see room for recovery if XRP bounces from its current support level. A break above the $2.50 resistance could invalidate bearish predictions and set the stage for XRP to retest its recent high of $2.90. Meanwhile, on-chain data from Messari shows that XRP addresses holding over one million tokens have been reducing their balances, signaling profit-taking by large holders during the asset’s consolidation phase. This activity has added to market pressure in recent weeks prompting worries XRP price may not be heading for a rally soon unless bouyed by the Ripple SEC case end and Gary Gensler stepping down in January. The post XRP Whales Move $132M Ahead Of Santa Claus Rally, ATH Looming? appeared first on CoinGape .
Chainlink integrates memecoins into its services, enhancing accessibility. The adoption of CCT standards enables memecoins to reach wider networks. Continue Reading: Chainlink Expands Access to Various Memecoins Across Multiple Networks The post Chainlink Expands Access to Various Memecoins Across Multiple Networks appeared first on COINTURK NEWS .
Victoria, Seychelles, December 23rd, 2024, Chainwire Bitget , the leading cryptocurrency exchange and Web3 company, has announced the listing of TON Station (SOON) in the Innovation and TON Ecosystem Zone. TON Station is a premium game distribution platform created by industry leaders SIDUS HEROES and SuperVerse. The platform offers exclusive access to unique games and content within the Web3 domain, collaborating globally with top Web3 gaming studios. Partnerships with prominent figures such as Crypto Banter, Alex Becker, and EllioTrades further highlight TON Station’s influence and integration in the gaming ecosystem. The listing of TON Station (SOON) reflects Bitget’s focus on supporting innovative, community-driven projects. As a global leader in cryptocurrency trading, Bitget provides an extensive selection of tokens across both spot and derivatives markets, hosting over 800 assets from ecosystems including Ethereum, Solana, Base, and TON. Adding TON Station (SOON) to its platform strengthens Bitget’s role in introducing diverse projects to its global user base. Deposits for TON Station (SOON) are already open. Trading will commence on December 22, 2024, at 11:00 (UTC), with withdrawals becoming available on December 23, 2024, at 11:00 (UTC). The SOON/USDT trading pair will be offered in Bitget’s spot market. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA , in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use . Contact Public Relations Media Bitget media@bitget.com
Digital assets manager CoinShares says institutional investors poured hundreds of millions into crypto investment vehicles last week in spite of market-wide sell pressure. In its latest Digital Asset Fund Flows report , CoinShares says that last week, institutional crypto investment products saw net inflows of $308 million. “Digital asset investment products saw a continuation of inflows last week totaling US$308m, although this masks the largest single day of outflows on the 19th December totaling US$576m, with total outflows in the final 2 days of last week at US$1bn.” Source: CoinShares According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release resulted in a $17.7 billion loss in assets under management (AuM) by crypto exchange-traded products (ETPs). “While these outflows may sound alarming, they comprise just 0.37% of total AuM, ranking as the 13th largest single-day outflow on record. The largest single-day outflow took place in mid-2022, when the FOMC interest rate hike prompted US$540m outflows (2.3% of AuM.)” Bitcoin ( BTC ), per usual, led the way with $375 million in inflows. While Ethereum ( ETH ) and XRP products enjoyed $51.3 million and $8.8 million in inflows each, multi-asset investment products, those investing in a basket of cryptos instead of just one, saw a significant uptick in outflows. “The most dramatic flows were from multi-asset investment products, which saw US$121m of outflows last week.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Institutional Crypto Products Continue Inflow Hot Streak Despite Market Sell-Off: CoinShares appeared first on The Daily Hodl .
The Santa Claus Rally faces uncertainty as Bitcoin dips to $94,955. Strong trading volumes and mixed on-chain signals suggest a pivotal week ahead.
Japan-based early-stage investment firm Metaplanet continues its Bitcoin (BTC) buying spree. The company announced today that it has purchased 619.7 BTC for $61 million – including fees and other expenses – making it the firm’s largest Bitcoin acquisition to date. Metaplanet Increases BTC Holdings To 1,762 The recent crypto market downturn from its all-time highs (ATH) does not appear to bother Metaplanet, as the Tokyo-listed firm made its largest BTC purchase to date, buying 619.7 BTC worth $ 61 million at an average price of around $96,000. Related Reading: Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale To recall, Metaplanet started buying BTC earlier this year in May with a purchase of 97.9 BTC. Since then, the company has purchased BTC every month, barring September, and crossed the 1,000 BTC milestone in November. The latest acquisition has pushed Metaplanet’s total Bitcoin holdings to 1,762, bought at an average price of $75,600 per BTC. Notably, this $61 million purchase is nearly double the value of Metaplanet’s previous largest acquisition, which occurred in November and was worth close to $30 million. The company’s consistent BTC accumulation has earned it the nickname “Asia’s MicroStrategy,” in reference to the US-based business intelligence firm known for its aggressive Bitcoin buying strategy. It is worth highlighting that today’s BTC purchase comes a week after Metaplanet raised $60.6 million through two tranches of bond issuance for the purpose of “accelerating BTC purchases.” Metaplanet’s latest purchase also makes its BTC reserves the 12th-largest among publicly listed firms globally. According to Metaplanet’s official announcement, its BTC Yield – a proprietary metric used to measure the performance of its Bitcoin acquisition strategy – stood at 310% from October 1 to December 23. The firm emphasized that this strategy is designed to be “accretive to shareholders.” Despite today’s significant BTC purchase, Metaplanet’s stock price saw little movement, closing at $22.5, down 0.98% for the day. However, on a year-to-date basis, the company’s stock has surged by an astounding 1,982%, reflecting the long-term benefits of its Bitcoin-centric strategy. Bitcoin Supply Crunch To Hasten Adoption? With Bitcoin’s total maximum supply capped at 21 million, the digital asset has solidified its reputation as an inflation-resistant store of value. A recent report highlights that BTC supply on crypto exchanges has hit multi-year lows, indicating that holders are increasingly withdrawing BTC from exchanges, reducing circulating supply and potentially driving prices higher. Related Reading: Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy Bitcoin’s scarcity has triggered an unofficial race among corporations – and possibly even governments. For instance, Bitcoin mining firm Hut 8 recently purchased 990 BTC for $100 million, increasing its total holdings to over 10,000 BTC. Similarly, MARA, another Bitcoin mining company, acquired 703 BTC earlier this month, bringing its total holdings to 34,794 BTC. Speculations surrounding a potential US strategic Bitcoin reserve are further strengthening BTC’s supply crunch narrative, which may fast-track its adoption. At press time, BTC trades at $94,003, down 1.5% in the past 24 hours. Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
Victoria, Seychelles, December 23rd, 2024, Chainwire Bitget , the leading cryptocurrency exchange and Web3 company, has announced the listing of TON Station (SOON) in the Innovation and TON Ecosystem Zone. TON Station is a premium game distribution platform created by industry leaders SIDUS HEROES and SuperVerse. The platform offers exclusive access to unique games and content within the Web3 domain, collaborating globally with top Web3 gaming studios. Partnerships with prominent figures such as Crypto Banter, Alex Becker, and EllioTrades further highlight TON Station’s influence and integration in the gaming ecosystem. The listing of TON Station (SOON) reflects Bitget’s focus on supporting innovative, community-driven projects. As a global leader in cryptocurrency trading, Bitget provides an extensive selection of tokens across both spot and derivatives markets, hosting over 800 assets from ecosystems including Ethereum, Solana, Base, and TON. Adding TON Station (SOON) to its platform strengthens Bitget’s role in introducing diverse projects to its global user base. Deposits for TON Station (SOON) are already open. Trading will commence on December 22, 2024, at 11:00 (UTC), with withdrawals becoming available on December 23, 2024, at 11:00 (UTC). The SOON/USDT trading pair will be offered in Bitget’s spot market. About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA , in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use . Contact Public Relations Media Bitget media@bitget.com