Kategorie: Altcoin News

• Hyperliquid (HYPE) price fell below $40 amid profit-taking and crypto sell-off.
• Despite positive news with Eyenovia announcing plans to add HYPE to treasury strategy, the price dipped 5%.
• Bears may target deeper price dips if bulls give up territory.

Hyperliquid (HYPE) dropped more than 5% on June 18, 2025, falling below the $40 mark even as Eyenovia, Inc.—a Nasdaq-listed ophthalmic technology firm—announced a $50 million investment in the token as part of its crypto treasury strategy.

The move marks a significant milestone for both firms.

Eyenovia’s announcement aligns with a broader trend of publicly traded companies increasing exposure to digital assets, adding crypto to their balance sheets amid growing institutional interest.

Despite the bullish headline, HYPE extended losses following a recent all-time high, with the decline largely attributed to profit-taking.

The price action leaves the Hyperliquid token vulnerable to further downside if selling pressure persists.

Big news as Eyenovia plans HYPE treasury strategy

On June 17, 2025, Eyenovia announced its plans for a private placement as it looks to establish a cryptocurrency treasury reserve.

Specifically, the company wants its balance sheet to include Hyperliquid’s native token, HYPE.

This strategic pivot, which includes rebranding to Hyperion DeFi, aims to position Eyenovia as a leading validator on the Hyperliquid blockchain..

Notably, Eyenovia’s $50 million investment targets the acquisition of 1 million HYPE tokens.

Once executed, the company will become one of the top global validators on Hyperliquid’s layer-1 blockchain.

The $50 million financing, secured through a private placement in public equity (PIPE) with institutional investors, involves issuing convertible preferred stock at $3.25 per share, potentially raising up to $150 million if warrants are fully exercised.

Eyenovia has appointed Hyunsu Jung as Chief Investment Officer to lead this initiative, with plans to stake HYPE tokens via Anchorage Digital’s platform.

Eyenovia’s chief executive officer, Michael Rowe, emphasized the strategy’s focus on long-term capital appreciation and shareholder value, citing Hyperliquid’s rapid growth and $8.4 million daily revenue.

This move aligns with a growing trend among publicly traded companies diversifying into cryptocurrency treasuries.

Strategy, formerly MicroStrategy, is the biggest player with its over $60 billion Bitcoin (BTC) haul.

Other companies have announced strategies for Ethereum, XRP, and Solana.

Eyenovia stands out as the first US public company to adopt HYPE, potentially setting a precedent for decentralized finance (DeFi) tokens.

“We are pleased to join the growing number of companies who have adopted similar strategies for the diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents,” stated Michael Rowe, chief executive officer of Eyenovia.

“Following a thorough review of all available alternatives, the Board and I have concluded that this transaction is in the best interests of our shareholders.”

What is the outlook for the HYPE price?

HYPE’s price has struggled to maintain momentum above $40, dropping to $39.89 after failing to sustain a recent peak of $45.50.

On the daily chart, technical indicators paint a bearish picture, with the Relative Strength Index (RSI) sitting at 45.6, indicating neutral momentum with a slight bearish tilt, while the Moving Average Convergence Divergence (MACD) shows weakening bullish momentum.

Open Interest (OI) on Hyperliquid futures has also declined, signaling reduced trader confidence, according to Coinglass data.

Despite the current price dip, analysts forecast that such institutional endorsements could drive HYPE’s value higher.

Moreover, Hyperliquid remains a strong project with massive perpetuals volume and revenue.

The post Hyperliquid price outlook amid Eyenovia’s $50M HYPE treasury strategy appeared first on CoinJournal.

• Bitcoin Cash price hovered above $470 on June 18, 2025, despite broader profit taking.
• BCH could break to December 2024 highs around $640.
• However, a lack of decisive moves above $500 could allow for further declines if bearish momentum accelerates.

Bitcoin Cash (BCH) is trading just below $470, marginally in the red for the day, while most major altcoins have seen sharper declines over the past 24 hours.

The token, which is a fork of Bitcoin (BTC), is down 0.3% at the time of writing, faring better than most of the top 10 cryptocurrencies by market cap, which are down between 1.5% and 3%.

The total market capitalization of all cryptocurrencies has declined 1.5% to $3.26 trillion, reflecting a broader pullback in risk assets across global markets.

Bitcoin Cash price dips amid crypto market weakness

Despite the profit-taking that has intensified as uncertainty looms with the geopolitical conflict in the Middle East, Bitcoin Cash shows notable resilience.

Macroeconomic pressures have also not helped investor sentiment, providing a potential downturn outlook for BCH and most altcoins.

The Bitcoin Cash price stood among the top gainers last week, rising to hit highs near $480.

It outpaced peers and Bitcoin’s more modest gains as it extended above $400.

However, the past 24 hours have seen BCH retreat from its multi-week highs, largely due to broader profit-taking across the market.

Similar trends have seen Bitcoin price pullback from highs above $108k to under $105k, driven by geopolitical tensions.

The recent military escalations between Israel and Iran have dampened investor confidence, contributing to market volatility.

While there are positive developments, such as the US Senate’s passage of the GENIUS Act, broader uncertainty persists.

Investors are thus largely cautious, a reflection seen in Bitcoin’s performance.

Indecision runs high, and BCH’s delicate poise above $400 may be retested again.

On the other hand, a flip could be huge for bulls.

BCH price prediction

Despite recent losses, Bitcoin Cash exhibits resilience, with bulls defending the $400 support level within an ascending triangle pattern.

Often, such a pattern precedes bullish breakouts.

Also steady is the Open Interest (OI) in BCH futures. Per Coinglass, OI has risen 2.8% to $487 million to signal continued trader confidence.

Buyers may use the dip to position for a potential move.

Technical indicators bolster this optimism, with the Relative Strength Index (RSI) at 65 to suggest sustained bullish momentum.

Bitcoin Cash’s daily chart also has the Moving Average Convergence Divergence (MACD) showing a bullish crossover, suggesting buyers retain the upper hand.

Should BCH break above the key $500 resistance, the next target lies at the December 2024 highs of $640, potentially signaling a broader rally.

On the downside, strong support exists at $400, with $375 acting as a critical floor.

A breach below these levels could accelerate bearish pressure, particularly if Bitcoin falls below the psychological $100k level.

The post Bitcoin Cash price forecast: BCH steady despite profit taking appeared first on CoinJournal.

• The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity.
• Binance has blamed whale exits and a liquidation cascade for the token crash.
• The upcoming June 19 token unlock may trigger further price drops.

The cryptocurrency market has once again been rocked by a dramatic price collapse, this time involving Polyhedra Network’s native token, ZKJ.

The ZKJ token has suffered an unprecedented decline of over 91% in less than 24 hours, sending shockwaves across exchanges and drawing scrutiny from regulators, investors, and analysts alike.

ZKJ, which had been trading steadily around $2.00 for over a month, crashed to a record low of $0.2676 on June 15, 2025, wiping out nearly $500 million in market capitalisation.

This price crash has raised serious concerns over liquidity risks, tokenomics structure, and the influence of large holders in decentralised finance.

What caused the sudden Polyhedra Network (ZKJ) price collapse?

The ZKJ price collapse began early on June 15 when Polyhedra Network posted on X (formerly Twitter) that a wave of “abnormal on-chain transactions” had struck the ZKJ/KOGE trading pair.

Dear Polyhedra community — we want to emphasize that the fundamentals of Polyhedra remain strong, both in our technology and in the incredible support from our community. We’re continuing to build and push forward as planned.
Today’s price drop was caused by a series of abnormal…

— Polyhedra (@PolyhedraZK) June 15, 2025

Within hours, the token’s price plummeted by more than 83%, as market participants scrambled to understand what had triggered the meltdown.

Binance later weighed in, attributing the collapse to a liquidity crisis stemming from large-scale withdrawals involving KOGE, a token closely paired with ZKJ.

According to the exchange, these withdrawals created a “liquidation cascade” as major wallets began offloading their holdings.

Binance is aware that ZKJ and KOGE have experienced significant price volatilities and our initial findings indicate the developments were a result of large holders removing on-chain liquidity, and liquidation cascade in the market.

In order to maintain market fairness and… pic.twitter.com/O89hpRVaQz

— Binance (@binance) June 15, 2025

As KOGE’s USDT pool was drained, traders moved their assets into the ZKJ/USDT pool, which quickly became overloaded.

This sudden shift overwhelmed the system, accelerating the sell-off and deepening the decline in ZKJ’s value.

Massive withdrawals and whale activity

Blockchain data has revealed several wallets that had been actively farming Alpha Points before the crash.

One wallet alone withdrew more than $3.7 million in KOGE and $530,000 in ZKJ.

Two other wallets combined pulled out nearly $5 million, further intensifying the downward spiral.

These actions suggest the involvement of large holders, commonly known as whales, whose exits likely triggered cascading liquidations across leveraged positions.

As prices tumbled, margin calls were activated, leading to forced liquidations that compounded the selling pressure.

Although some community members have speculated about foul play, no leading blockchain analytics platform has verified such claims.

Polyhedra, for its part, insists it is conducting a thorough review and maintains that its core technology remains unaffected.

Binance has altered its Alpha Points rules for ZKJ and KOGE

In response to the unfolding situation, Binance announced a major change to its Alpha Points rewards program.

Starting June 17, trades between Alpha tokens, including ZKJ and KOGE, will no longer count toward Alpha Points calculations.

This policy shift is aimed at reducing systemic risk and discouraging concentrated trading behaviors that can lead to abrupt market failures.

Binance’s decision is being viewed as a proactive step to restore market integrity and reduce manipulation.

Upcoming token unlock adds to the bearish pressure

Further adding to investor anxiety is the imminent unlock of 15.5 million ZKJ tokens scheduled for June 19.

Valued at approximately $10 million, this unlock could flood the market with fresh supply at a time when confidence is already severely shaken.

Given that this represents more than 5% of the current circulating supply, market analysts warn that another sharp drop could occur if holders rush to sell upon unlocking.

The timing could not be worse for a token already reeling from its steep fall.

The post Polyhedra’s ZKJ token collapses following ‘abnormal on-chain activity’ appeared first on CoinJournal.