Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Bitcoin Cash up 7% as bulls defy BTC dump, eye gains on rising volume

  • Bitcoin Cash has seen a notable surge in the past 24 hours, gaining 8% to $554.
  • The altcoin sees gains as Bitcoin price dumps amid massive sell-off pressure.
  • With trading volume up 44% and rising open interest also surging, BCH could defy the benchmark asset’s dip further and eye highs last seen in December 2024.

The Bitcoin Cash (BCH) price currently stands at approximately $551.

While it’s off its intraday highs of $554, it remains above the $550 mark, up as one of the top gainers in the past 24 hours.

According to CoinMarketCap, this comes as Bitcoin’s latest correction has many altcoins also showing weakness.

Bitcoin Cash defies BTC dump with 7% gain

BTC dropped to below $115k after Galaxy Digital, a prominent crypto investment firm, offloaded 30,000 BTC in under 24 hours.

Liquidations spiked amid the Bitcoin dump, but Bitcoin Cash looked to buck the trend.

Its intraday gains of over 8% see it rank among the top performers in the 100 largest cryptocurrencies by market cap.

Bitcoin Cash price chart by CoinMarketCap

Notably, gains keep BCH in an uptrend over the longer time frames. The altcoin’s price is on an upward trajectory since touching lows of $268 in April 2025.

Also, the price gain amid a 44% increase in trading volume to over $870 million suggests potential buying pressure.

Crypto analyst CW points to increased whale interest, particularly in China.

Is BCH poised for a rally to $1,000?

BCH price last traded at $1,000 in May 2021, at the time when bears pushed it lower from above $1,427.

In the past year, an attempt by buyers to reclaim the level fizzled out at around $624 in December 2024.

While the cryptocurrency has struggled for upside momentum, analysts are increasingly optimistic about Bitcoin Cash’s potential to rally toward $1,000.

Other than the overall long-term bullish sentiment around crypto, the short-term picture highlights robust market metrics and technical outlook.

BCH price chart by TradingView

For instance, open interest in BCH derivatives has jumped 24% to $533 million, with volume 28% up to over $1.3 billion.

A surge in speculative activity signals bullish confidence in the token’s price.

The technical picture further bolsters this bullish outlook.

The Relative Strength Index (RSI) currently reads 63.

Meanwhile, the Moving Average Convergence Divergence (MACD), is also flashing a bullish crossover to hint at potential short-term upward pressure.

If bulls manage a breakout to the supply wall at $540-$565, they could retest the $620-$650 area.

Above this, resistance above $700 could allow bulls to target $1,000. Conversely, support lies around $480 and then $380.

The post Bitcoin Cash up 7% as bulls defy BTC dump, eye gains on rising volume appeared first on CoinJournal.

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XCN price forecast: will bulls rally ahead of Onyx V2 launch?

  • Onyxcoin (XCN) price is around $0.015, down 19% over the past week.
  • XCN is under pressure as the broader market battles fresh selling as traders book profits.
  • Onyx V2’s anticipated launch and the regulatory clarity provided by the CLARITY Act could be a bullish catalyst.

Onyxcoin (XCN), the native token of the web3 protocols ecosystem Onyx, is experiencing the downside pressure that currently engulfs the broader crypto market. Celestia is among the altcoins to see 24-hour losses.

As of writing, XCN is trading at $0.01538, with a 24-hour trading volume of over $38 million.

While the market cap has dipped to $527 million, the slight uptick in daily volume indicates a notable level of market interest.

Onyx eyes traction with V2 ahead of CLARITY law

The Onyx ecosystem is gearing up for a significant upgrade with the impending launch of Onyx V2, aimed at enhancing compliance and functionality.

According to a recent announcement by OnyxDAO on X, the launch of Onyx V2 is designed to meet the highest compliance standards under the United States’ crypto markets regulation CLARITY Act.

The CLARITY Act, formally known as H.R. 3633, aims to provide a clear regulatory framework for digital assets by distinguishing between digital commodities, securities-like assets, and stablecoins.

As Onyx notes in its post on X, the V2 rollout will position XCN “as a Digital Commodity Token within a Mature Blockchain System.”

Potentially, this means broadening the project’s appeal to institutional investors amid broader regulatory compliance.

Onyx has cautioned the community that there will be no token swaps, with users asked to beware of scams and fake airdrops.

Onyxcoin price outlook

The anticipation surrounding Onyx V2 could spark considerable interest in XCN, hence catalyzing an upward flip.

Among market outlook indicators traders are watching to gauge potential price movements is open interest.

While XCN derivatives have seen a slight decrease in OI, the weighted funding rate remains positive. Derivatives volume, which reflects trading activity in futures and options, has also fallen 14% to around $25 million.

From a technical point of view, indicators on the daily chart further support a short term bearish strength.

The Relative Strength Index (RSI) for XCN is currently at 43, not yet oversold. However, it is downsloping to suggest sellers could gain momentum.

Onyxcoin XCN Price
XCN price chart by TradingView

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line crossing below the signal line. XCN price is also near the support line of a falling wedge, and a drop could extend losses.

Interestingly, Onyxcoin is down 19% over the past week and has pared most of the gains seen when price jumped to highs of $0.02 in mid-July.

XCN is nonetheless more than 914% up in the past year. While this suggests a bullish trend amidst broader market volatility, price is near a critical support level.

The post XCN price forecast: will bulls rally ahead of Onyx V2 launch? appeared first on CoinJournal.

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Ethena surges 20% after Arthur Hayes scoops up 2M ENA tokens

  • Arthur Hayes has invested $1.06 million in ENA.
  • The BitMEX co-founder now holds 7.76M ENA coins, worth approximately $3.73M.
  • The altcoin has gained nearly 20% in the past 24 hours.

Digital tokens traded in the red on Friday as bears dominated amid intensifying profit-booking.

Meanwhile, Ethena was among the few tokens decoupling from the downside wave.

Amid the prevailing selling pressure in the cryptocurrency market, ENA has rallied from yesterday’s intraday low of $0.4268 to $0.5088 on Friday.

That means an around 19% surge, which has attracted attention amidst prevailing downtrends.

Ethena’s rebound has coincided with a massive purchase from BitMEX co-founder Arthur Hayes.

According to Lookonchain, the American entrepreneur has scooped 2.16 million ENA tokens today, worth approximately $1.03 million.

The transactions come as the digital token plunged 25% from the Monday high of $0.5812 to yesterday’s $0.4307.

Meanwhile, the considerable buy demonstrates Hayes’s conviction in Ethena’s future potential.

Furthermore, he did not use one platform to complete the purchases.

The investor sourced his ENA from Binance, Flowdesk, and Galaxy Digital.

That depicts how he strategically uses various liquidity providers to secure his cryptocurrency investments.

Recently, Hayes made headlines for using Flowdesk to acquire AAVE and Lido tokens in an over-the-counter purchase.

Hayes’s confidence in Ethena

The timing and size of the purchase signal trust in the project’s long-term value.

Hayes capitalized on discounted prices to add to his holdings despite prevailing market volatility.

The latest accumulation sent his balance to 7.76 million ENA tokens, worth approximately $3.73 million.

Ethena allows users to access DeFi yields and a synthetic dollar, USDe.

It has gained increased traction lately, with its circulating supply topping $6 billion.

While not all market participants follow fundamentals, Hayes’s involvement is adequate to influence sentiments.

The latest purchase could magnify trust in the project and attract more investors to the Ethena ecosystem.

Retail and some institutional players use such indicators to increase their balances or re-enter the market.

That seems to be paying out as ENA witnessed increased attention, bullish sentiments, and spiked volumes hours after Hayes’s purchase.

Ethena’s Open Interest gas increased by 16% to $835.17 million, while volume soared 15% to $2.83 billion (Coinglass data). Moreover, the 1.0276 24H long/short ratio shows that most traders are bullish as they bet on price recoveries.

ENA price outlook

The native token traded in green amidst the optimistic developments.

ENA hovers at $0.4933 after correcting from intraday highs.

The rally came even as bears dominated the cryptocurrency space, with Bitcoin down 2% in the past day to press time’s $115,150.

Meanwhile, the $117,000 – $119,700 zone remains crucial for BTC’s directional trajectory.

A decisive candlestick closing outside this range will pave the way for the next significant move.

Ethena’s current outlook reflects how major players can influence sentiments and prices in the digital tokens industry.

Bullish enthusiasts will watch ENA’s performance in the upcoming sessions to see how timely Hayes’ purchase is.

The post Ethena surges 20% after Arthur Hayes scoops up 2M ENA tokens appeared first on CoinJournal.

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Celestia price outlook: Here’s why TIA risks further losses

  • Celestia (TIA) trades at $1.81, down 13% in the past week.
  • The altcoin is paring gains seen following a bounce from lows of $1.32.
  • Celestia Foundation has announced it bought all remaining TIA from Polychain Capital.

Celestia’s price of $1.81 today  is down double digits in the past week. While it has bounced 38% since hitting its all-time lows of $1.32 in June, it is 70% down in the past year and -91% from its all-time high above $20.9 reached in February 2024.

As the cryptocurrency market navigates its latest pullback, is TIA at risk of fresh losses? Or could Celestia Foundation’s latest move catalyze a fresh recovery?

Celestia Foundation buys back TIA from Polychain Capital

As TIA price fell over the past year, most analysts pointed the finger towards the aggressive dumping by Polychain Capital.

Celestia moved from being one of the most attractive coins at its mainnet launch, to lagging the market. Underperformance in the past year has pushed it further off its peak.

An analyst on X called it one of the “most predatory VC tokens out there.”

The Celestia Foundation has moved to flip the picture, announcing it acquired Polychain Capital’s remaining TIA holdings. It is a move that concludes a long-standing partnership with the VC that acquired coins under or at $1.

Now after dumping tokens, Polychain has agreed to sell its 43,451,616.09 TIA tokens back to the Celestia Foundation for $62.5 million. Polychain is set to undelegate its staked assets to facilitate the deal.

Why is TIA largely bearish?

Despite the Celestia Foundation’s move, TIA’s price trajectory remains largely bearish.

Token unlocks, which will gradually release the redistributed tokens into circulation, remains. This controlled release has the design of a strategy eyeing no sudden supply surge. New investors receiving the coins must therefore not adopt a sell-off strategy similar to Polychain Capital’s earlier actions.

Otherwise, with a potentially aggressive divestment feature and rewards loophole, bears may yet take further hold.

Recently, commenting on TIA price, crypto analyst zeroknowledge posted on X:

“The structural selling pressure is not a side effect, it’s literally the primary feature of the tokenomics design.”

Explaining further, the analyst added:

“The most damning example is Polychain Capital, which invested approximately $20 million across Series A and B rounds. Through the staking rewards loophole (see screenshot below), Polychain already sold over $82 million worth of TIA (achieving a 4x return on investment) before a single one of their primary tokens has unlocked.”

Is this changing? Market participants have pointed to Celestia restructuring its tokenomics and governance model.

As Chaos Labs notes in the above post, Celestia will not just reallocate the Polychain stash, but has a proposal to cut inflation rate. But will this stem the selling?

Celestia price technical outlook

The token traded around $1.81 at the time of writing, with open interest down to $197 million.

Technical indicators -the RSI and MACD on the daily chart give sellers the upper hand. Notably, the RSI is downsloping below 50 while the MACD is signaling a bearish crossover.

The post Celestia price outlook: Here’s why TIA risks further losses appeared first on CoinJournal.

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PUMP holders sell at a loss as Pump.fun founder confirms airdrop won’t happen soon

  • Two wallets dumped 1.25B PUMP coins within 2 hours, incurring $1.19M loss.
  • The move came after Pump.fun founder confirmed delays in the much-awaited airdrop.
  • The alt exhibits bearishness amidst community restlessness, down 4% in the past day.

Pump.fun’s meme token has failed to keep pace due to massive dumps from key investors.

PUMP has plummeted from its private sale price of $0.004 to $0.002202 amid overwhelming selling pressure since the July 12 public sale event.

The meme token’s sell-off continued today.

Lookonchain data shows two whale wallets, linked to early investors, dumped 1.25 billion PUMP coins within two hours.

The combined sale was worth approximately $3.81 billion and led to losses of over $1.19 million.

The participants offloaded at $0.00305 per token.

The continued sell-offs have stirred concerns among PUMP holders.

While enormous token sales from early investors are usual in the digital assets space, the timing and scale of Pump.fun’s sale, combined with disappointing updates about the much-awaited airdrop, magnified the bearish momentum.

Pump.fun founder confirms no immediate airdrop

While analysts speculated that delayed airdrop prompted the considerable token dumps, Pump.fun’s founder has cemented this fact.

The meme generator’s founder, Alon Cohen, addressed the airdrop concerns during an interview with Michael ThreadGuy Jerome on Wednesday.

Alon confirmed that the project will hold an airdrop.

However, he emphasized that the giveaway event will have to wait, as the current priority remains ecosystem development and long-term growth.

Alon clarified that Pump.fun targets a well-executed and meaningful giveaway that rewards the community instead of rushing to meet hype-fueled deadlines.

He said:

We want to make sure that it is a meaningful airdrop and it is executed well. We’re actually focusing on bringing back a lot of that attention and hype to our ecosystem. That being said, the airdrop is not going to be taking place in the immediate future.

Alon added that they will communicate any details and timelines when it’s appropriate.

While the explanation may have made sense to some, others view it as a delay that signals internal uncertainty or fading momentum.

Private investors exit Pump.fun

Despite official confirmation, on-chain experts have identified addresses dumping PUMP as those that purchased during the early public sale period.

The most alarming thing is the participants are opting to exit at a loss.

That could only indicate two things: a lack of trust in PUMP’s short-term performance or strategic exits before a liquidity crunch.

PUMP price action

Pump.fun’s native token has lost nearly 4% in the past 24 hours to trade at $0.02202.

Technical indicators demonstrate downward pressure.

PUMP trades below the vital 50- and 100-Exponential Moving Averages on the 1D chart, confirming dominant sellers.

the 1D RSI at 55 suggests room for more PUMP dips before oversold situations emerge.

Also, 3HMACD displays a weakening momentum, failing to decisively surpass the signal line since the July 18 bearish crossover.

With technicals and fundamentals screaming bearish, Pump.fun’s native token remains poised for extended declines before securing a reliable footing.

The post PUMP holders sell at a loss as Pump.fun founder confirms airdrop won’t happen soon appeared first on CoinJournal.