Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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POL eyes 95% surge as Polygon’s stablecoin supply hits 3-year highs

  • The project’s stablecoin supply has crossed $2.76 billion.
  • The metric has hovered beneath this level since 2021.
  • A falling wedge pattern suggests POL rallies to $0.50.

Digital tokens remained elevated on Monday as most assets exhibited bullish structures after the latest rallies.

Polygon, which has displayed stability since its Heimdall v2 upgrade on 10 July, is in the spotlight again.

The Polygon PoS saw its stablecoin supply recovering past $2.76 billion over the weekend, touching levels not seen since the 2021 bull run (according to CEO Sandeep Nailwal).

The prevailing bull run and the latest crypto bills’ approval in the United States fuel this stablecoin growth.

Stablecoins gain traction after Donald Trump signed the GENIUS Act into law.

These assets are vital for the markets’ stability as they peg real-world assets like fiat.

Increased stablecoins entering the Polygon network indicate growing trust in the project, with users betting on potential upticks in ecosystem growth, NFT trading, and DeFi activity.

Such developments have renewed interest in native POL, the new coin replacing MATIC.

The alt has formed a bullish reversal pattern after extended dips since March.

Overcoming the $0.42 – $0.45 resistance could propel POL toward the obstacle at $0.50.

That would translate to a 95.38% increase from the digital currency’s market price of $0.2559.

Network activity confirms trend shifts

Stronger fundamentals support Polygon’s bullish trajectory.

It has topped charts in the last few months, consistently ranked as:

  • The top three in bridged inflows
  • The top two in NFT trading volume
  • The top three in daily transactions
  • 150b+ in stablecoin volumes
  • The top two in daily active users on several days.

These stats reflect Polygon’s competitiveness in the hot Ethereum-scaling and L2 landscape.

The impressive growth suggests that Polygon remains a perfect choice for traders, institutions, and developers.

With many sectors, including NFTs, DeFi, gaming projects, and real-world assets (RWA) heating up amid the materialising bull run, Polygon might see further stablecoin surges.

POL price outlook: Is $1 next?

The alt trades at $0.2559 after gaining over 5% in the past 24 hours (CoinMarketCap).

It has rallied from June lows of $0.1666, and the 60% surge in daily trading volume suggests further gains for POL.

Technical indicators back the bullish case. A textbook falling wedge is emerging on the weekly charts.

This classic formation often welcomes massive breakouts once confirmed.

Falling wedge patterns trap sidelined cautious buyers and short-sellers before robust gains.

With the prevailing broad market optimism, Polygon bulls will target the key resistance at $0.50, a 95% upswing from POL’s market price of $0.2559.

The soaring stablecoin supply hints at stable gains for the digital currency.

Overcoming $0.50 could catalyse surges to $0.90 before exploding toward the psychological mark at $1.

Cryptocurrencies appear ripe for extended gains as bulls dominate amid shifting trends and increased institutional appetite.

The post POL eyes 95% surge as Polygon’s stablecoin supply hits 3-year highs appeared first on CoinJournal.

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CFX price explodes 100% amid news from a major Conflux conference

  • Conflux price jumps more than 100% to lead top 100 coins by market cap as Ethereum eyes $4,000.
  • An altcoin rally has buoyed top coins like XRP, Solana and BNB.
  • News from a network conference in Shanghai, mainly that Conflux 3.0 is coming, has buoyed CFX bulls.

Conflux (CFX) is trending as the top gainer in the 100 largest coins by market cap in the past 24 hours, with its price up an impressive 116%.

CFX traded to highs of $0.24, a multi-month peak that has bulls eyeing a major breakout.

This rally for the 81st-ranked altcoin comes amid a broader bullish flip for top cryptocurrencies, with Ethereum leading the charge as Bitcoin takes a breather.

Part of CFX’s uptick is down to a major news announcement around Conflux 3.0, an upgrade expected to go live this August.

Conflux 3.0 announcement triggers triple-digit uptick for CFX

As noted, CFX ticked up by more than 100% as the Conflux price reacted to a major news announcement.

This announcement came at the Conflux Technology & Ecosystem Conference 2025 in Shanghai, held between July 18 and 20.

Among the key highlights of the summit was an announcement by Dr. Guang Yang, the chief technology officer of Conflux.

Yang noted that the upgrade that rolls in the Conflux 3.0 Architecture will activate in August.

Positive market reaction saw the altcoin post gains as mega cap cryptocurrencies edged up alongside Ethereum’s pump and XRP’s push for a new all-time high.

Solana was also looking to break towards $200.

The historic passage and signing into law of the GENIUS Act have contributed to this rally in cryptocurrencies.

It’s likely the same reason Conflux, a layer-1 blockchain designed to transform stablecoin and payment infrastructure for consumer payments, has skyrocketed in the past two days.

For Conflux, this overall bullish picture for altcoins has combined with network-specific news to catalyse the bulls’ march to highs last seen in mid-December 2024.

Daily volume rose by more than 1050% to over $1.74 billion, while the CFX market cap climbed to over $1.13 billion.

Conflux price outlook

The price of Conflux has indeed jumped by 116% in the past 7 days, extending gains to 204% in the past month.

Bulls have given up some of the gains seen when Conflux price jumped to intraday highs of $0.24.

Conflux price chart by CoinMarketCap

The bullish uptick has put CFX above the key supply zone around $0.18.

It means a break above $0.30 could bring the $0.55 peak reached in March 2024 into play.

A run to $1 or higher in the short term is likely if altcoin season is on.

However, profit-taking may result in a revisit of key previous support levels, including $0.14 and $0.10.

At the current price of $0.22, CFX is more than 900% up on its value of $0.021 that bears reached in January 2023.

The Conflux token hit its all-time high above $1.70 in March 2021.

The post CFX price explodes 100% amid news from a major Conflux conference appeared first on CoinJournal.

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FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims

  • Backpack has unveiled a fee-free platform for FTX victims to sell their claims.
  • The platform generated excitement as it pledged zero profits from the process.
  • FTT coin gained more than 7% amid the developments.

FTT joined today’s broad-based altcoin rallies with a significant surge.

While the altcoin narrative boosted the alt’s sentiments, the latest announcement from Backpack exchange added to the bullish momentum.

Backpack has launched a non-profit platform to help victims of the collapsed FTX exchange liquidate their bankruptcy claims.

The announcement triggered excitement, especially for creditors who have been in limbo for over two years, wondering whether they would ever recover their lost funds.

The Backpack team said:

We deeply understand the pain of being former FTX users. To assist other users who still hold FTX claims, we are launching a non-profit, completely neutral claims sale channel starting today, helping FTX global claim holders connect with third-party buyers willing to purchase FTX claims.

Notably, Backpack was among the platforms that suffered massive financial losses following FTX’s late 2022 debacle.

It lost assets worth approximately $14.5 million as Sam Bankman-Fried’s empire crumbled.

Most importantly, Backpack is not after recognition or financial gains.

It has emphasized that this is a community-centric, zero-profit program introduced to link claimants with legitimate buyers in a secure environment.

The initiative enhanced sentiments among FTT holders, reflected by the surged prices.

A transparent and straightforward process

Backpack’s new offering adopts user-friendliness.

Individuals only need to visit the exchange’s platform and complete basic ID checks.

This is to adhere to regulatory policies.

After eligibility verification, qualified users will receive offers from legitimate buyers and enjoy a secure and frictionless process to liquidate their assets.

Remember, Backpack will not take commissions or charge fees throughout this process.

FTT rallies in response

While it remains a controversial token, as it lacked utility following FTX’s debacle, FTT remains a proxy for sentiments around the exchange’s bankruptcy efforts.

It has always reacted to developments associated with the creditor reimbursement process.

The digital coin gained from a daily low of $0.8779 to $0.9408 intraday peak.

That’s a 7% increase, and the recovering 24-hour trading volumes signal a potential trend shift to the buyer side.

Technical indicators on the daily timeframe support the upside trajectory.

The Moving Average Convergence Divergence displays bullish momentum with green histograms while above the signal line.

The Relative Strength Index at 63 signals more room for upswings before FTT reaches the overbought area.

Meanwhile, FTT’s future depends on the claimants’ decision. Relentless dumps would mean massive selling pressure for the native token.

Backpack has urged users to avoid selling with a disclaimer:

Selling claims is a voluntary action and involves opportunity costs. If you choose to continue holding your claims, you may receive higher compensation in the future. Please make a careful decision based on your own judgment.

On the other hand, bulls dominate the cryptocurrency sector as bullish sentiments prevail. Bitcoin hovers at $120,140.

A daily candlestick closing above $121,000 could trigger continued gains to free all-time highs at $132,000.

The post FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims appeared first on CoinJournal.

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SOL gains momentum as Circle’s USDC mints on Solana surpass $3B in July

  • The stablecoin issuer has minted $500M USDC on Solana today.
  • It has minted $1B stablecoins in the previous week, bringing its July total past $3 billion.
  • SOL trades at a key level, targeting the $200 mark.

Solana is in the spotlight as altcoins rally with Bitcoin above the $120,000 zone after the US Congress passed the groundbreaking crypto bills.

Amidst the rallies, stablecoin issuer Circle has minted $500 million USDC on the Solana blockchain today.

The new injection has pushed the firm’s weekly mint to $1 billion USDCs, indicating intensified stablecoin activities on the SOL network.

Furthermore, Circle has minted USDC worth over $3 billion on the Solana blockchain since the start of July.

That’s among the most aggressive stablecoin expansions the crypto platform has witnessed in 2025.

These developments underscore institutional trust in Solana’s infrastructure and future potential.

Meanwhile, the optimism is already reflected in SOL’s price action.

The native token hovers at a key level of $180, targeting swift rallies toward the sought-after $200.

Why increased stablecoin activities matter

Circles move to mine USDC worth billions of dollars on Solana is beyond a mere blockchain activity.

The move signals confidence in the network’s cost-friendly model and scalability.

While Ethereum still grapples with high gas fees and congestion, Solana offers ultra-low fees and near-instant transaction completion.

That makes it perfect for handling massive volumes of stablecoin transfers.

The USDC minting spree signals growing institutional trust in Solana’s capabilities.

To investors, traders, and developers, the development signals a growing ecosystem ripe to support stablecoin-centric growth.

It is no surprise that native SOL displays bullishness amidst USDC surges.

Liquidity plays a crucial role in blockchain’s overall health, and stablecoins ensure smooth undertakings, from interacting with DEXs to lending protocols.

More USDCs joining the network will enrich Solana’s throughput and demand, which in turn leads to price growth.

Also, the move reflects Circle’s expansion goals.

The company requires a blockchain that can handle massive real-world volumes as it braces for its IPO (initial public offering).

Will Solana’s battle-tested, cheap, and fast capabilities make it a perfect partner?

Solana price outlook

SOL trades at $180 after gaining more than 6% in the past 24 hours.

The current price places it at a key level.

A closing above $180 will likely catalyze smooth gains toward the psychological mark at $200.

Technical indicators support Solana’s upside stance.

The 1D Moving Average Convergence sways above the signal line, suggesting buyer control.

Also, the Chaikin Money Flow has remained elevated since July 14.

That confirms increased cash entering the SOL ecosystem as investors expect imminent rallies.

Bulls target the $188 zone, beyond which Solana can rally frictionlessly to $200.

Solana enthusiasts @splsamurai posted a chart highlighting SOL’s potential gains.

Continued broad market surges will support Solana’s stability above $180 to validate the bullish trajectory.

Altcoins display bullish strength as Bitcoin’s dominance dwindled after BTC’s rally to all-time highs last week.

Solana remains poised among the top alts to watch in the prevailing bull runs.

The post SOL gains momentum as Circle’s USDC mints on Solana surpass $3B in July appeared first on CoinJournal.

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Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal

  • An address possibly linked to a BitMEX co-founder has received DeFi tokens worth $2.05 million.
  • The transaction involved 3,033 AAVE and 1.1253 million LIDO.
  • Flowdesk sent the assets, suggesting a potential over-the-counter purchase.

The altcoin narrative is gaining steam as Ethereum starts to outperform the markets.

ETH, SOL, and XRP surged up to 10% in the past 24 hours while the largest cryptocurrency by value remained calm above $118,600.

Amidst the shifting trends, crypto sleuths observed an interesting transaction linked to a wallet believed to be that of BitMEX co-founder Arthur Hayes.

The address received 3,033.14 AAVE and 1.1253 million LIDO, worth $2.05 million, from Flowdesk, a trading company.

This is more than an average transaction.

The timing, size, and parties involved have triggered debates within the cryptocurrency community.

Is Arthur Hayes accumulating DeFi blue chip tokens in anticipation of an imminent bull run?

Flowdesk’s role suggests an OTC deal

The source of the transferred assets added to the curiosity.

Flowdesk is known for handling massive transactions for wealthy individuals or institutions.

The fact that the wallets received the tokens directly from Flowdesk indicates an over-the-counter (OTC) deal.

This option allows the buyer to evade slippage and maintain privacy than using public exchanges.

Participants often opt for OTC deals to purchase or offload enormous amounts of digital assets without impacting market prices.

Moreover, individuals use over-the-counter to buy cryptocurrencies when preparing to hold them for the long term.

Why the two altcoins

The purchase wasn’t a random pick. AAVE and LIDO are among the most reputable DeFi tokens.

AAVE is among the earliest and most trusted lending protocols.

It is currently the second-largest business on the Ethereum blockchain, according to total value locked, surpassing Circle the previous week.

Aave’s multi-chain plans and upcoming V4 upgrade continue to grab the community’s attention.

On the other side, Lido is a dominant player in the Ethereum staking ecosystem.

It allows individuals to stake Ether while providing liquidity via stETH.

The LIS (Lido Impact Staking) launched early this year to transform sustainable funding for social impact projects.

AAVE price outlook

The alt trades at $325 after gaining more than 10% in the past week.

While it reflects weakness after a 1.15% dip in the past day, possibly due to profit-taking, AAVE’s bullish structure remains intact.

Renowned crypto analyst Javon Marks predicts massive moves to $628, translating to an over 90% surge from the current price.

He believes AAVE could extend to $1,200 with broad market bull runs.

LDO set for 50% surge

Lido DAO’s native coin exhibited a bullish outlook after gaining more than 4.6% in the past day.

Its soaring daily trading volume signals magnified interest in the altcoin.

LDO trades at $0.9435 after a 20% surge in the past seven days.

It tests an immediate resistance level between $0.95 and $1.00, according to analyst CW.

The digital coin secured a reliable footing at $0.66 – $0.72, hinting at stable performances.

With the next sell wall at $1.4, LDO holders can brace for nearly 50% gains in the near term.

The prevailing crypto market sentiments support LDO and AAVE’s bullish trajectories.

The post Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal appeared first on CoinJournal.