Kategorie: Altcoin News

• FTX Token recently slipped amid news of $5 billion distributions
• But what does FTX distributions mean for potential FTT price movement?
• Broader market sentiment may also dictate price direction for the FTX token.

The FTX Token (FTT), the native cryptocurrency of the now-defunct crypto exchange FTX, is up 2.8% in the last 24 hours to trade above $1.24.

While not huge, the gains continue FTT token’s uptick from lows of $1.12 hit earlier in the week.

This comes as the FTX holder community eyes fresh momentum amid the impending $5 billion second phase of bankruptcy distributions.

But what does this initiative that starts on May 30, 2025 mean for FTX Token?

FTX Token recent price action

Over the past month, FTT has seen a notable 32% surge, driven by speculation around the FTX bankruptcy estate’s upcoming distributions.

However, the token has faced downward pressure in the past week, dropping to around $1.12 before rising to $1.24 in the last 24 hours.

The downturn threatened to stall the altcoin’s bullish momentum, with the pullback coming amid broader market struggles.

After initially spiking on the bankruptcy estate’s plan to distribute over $5 billion to creditors starting May 30, 2025, the token dropped again.

Now that the payouts, which will range from 54% to 120% of original claims, are about to commence, activity around FTT is rising.

Per CoinMarketCap data, daily volume has jumped 21% in the past 24 hours to reach $26.7 million.

FTX distributions and potential price movement

The FTX bankruptcy estate’s plan to distribute over $5 billion to creditors marks a significant milestone in the exchange’s recovery process.

As CoinJournal highlighted earlier, the anticipation of the announced payouts fueled a 14% surge in FTT’s price.

Some investors see the repayments as positive news that could further bolster market confidence in FTT.

It’s still possible FTX’s collapse in November 2022 continues to constrain FTT, which has plummeted to below $1 since the crypto exchange imploded.

But the token, which peaked at $85 in September 2021, has shown resilience in recent months.

🚨TOMORROW :

FTX will begin distributing $5B in stablecoins to creditors starting May 30th.

Creditors are getting their funds paid in stables, so expect potential huge inflows of capital to pour into the crypto markets throughout the weekend📈

Also keep an eye on $FTT (FTX… pic.twitter.com/HVW9k63ca3

— Bitcoinsensus (@Bitcoinsensus) May 29, 2025

While FTT has largely traded below $2, occasional spikes have driven it higher. Notable news around bankruptcy updates have provided most of this upward movement.

Also, a February 2025 post from incarcerated former CEO Sam Bankman-Fried triggered a brief 30% rally, pushing FTT to $2.34 before it retreated.

This downturn was brutal though,with FTX token hitting lows of $0.78 in early April 2025.

Bears might yet target further pain, but ongoing speculation around creditor repayments, and broader market sentiment could be huge catalysts for the altcoin.

The post FTT posts slight gains as FTX prepares $5B in distributions appeared first on CoinJournal.

• Merlin Chain (MERL) price rose sharply as Binance announced the launch of MERL perpetual futures.
• The MERL token, native to the Bitcoin layer-2 solution, reached highs of $0.13 and could target $0.20.
• Altcoins have often spiked in price after such announcements by Binance.

Merlin Chain (MERL), a Bitcoin Layer-2 solution, has witnessed a significant price surge following a major announcement from Binance.

On May 28, 2025, Binance revealed the launch of USD-margined MERL Perpetual Contracts, a move that has sparked renewed interest in the token.

The news saw the price of Merlin Chain rise amid an increase in volume, with traction likely to push MERL beyond the $0.14 mark.

Binance Futures adds MERL perpetual contracts with 50x leverage

Binance Futures, the derivatives arm of the world’s leading cryptocurrency exchange, announced the addition of MERL perpetual contracts on May 28, 2025.

Binance EN: Binance Futures Will Launch USDⓈ-Margined MERLUSDT Perpetual Contract

Time: 2025-05-29 08:30 (UTC): MERLUSDT (up to 50x leverage)https://t.co/S7r8ePNplD

— Merlin Chain (@MerlinLayer2) May 28, 2025

According to the official announcement, the USD-M MERL Perpetual Contract will go live on May 29, 2025, at 08:30 UTC, allowing traders to access up to 50x leverage.

This high-leverage offering is designed to attract both seasoned traders and those looking to capitalize on MERL’s momentum.

The announcement follows Binance’s earlier listing of MERL on its Binance Alpha, which occurred on May 20, 2025.

It’s a move that introduced MERL to a broader audience, and the addition of perpetual contracts now amplifies its appeal in the derivatives space.

Binance Futures has a history of boosting token visibility and liquidity through such listings, as seen with previous launches of other perpetual contracts.

For MERL, this move underscores Binance’s confidence in the project’s potential to drive trading activity.

Merlin Chain (MERL) price surges

The market response to the Binance Futures listing has been swift and positive.

According to data from CoinMarketCap, Merlin Chain price rose to $0.1346, doing an upward flip of over 10% in the past 24 hours.

This surge has been accompanied by a decent spike in trading volume, with MERL recording a 17% surge in daily volume to over $803 million.

The token’s market cap has reached $95.5 million.

Merlin Chain’s price gains highlight the growing interest in its ecosystem, which focuses on enhancing Bitcoin’s layer-2 capabilities.

The project supports popular Bitcoin protocol tokens like BRC20 and BRC420, and its integration of ZK-Rollups and decentralized oracle networks has made it a standout in the decentralized finance space.

While price remains well off the all-time high of $1.55 hit in April 2024, the Binance Futures listing could be a key catalyst.

In this case, the token’s value could jump to $0.2 and target December 2024 highs of $0.48 in coming weeks.

The post Merlin Chain price gains as Binance adds MERL perpetual contracts appeared first on CoinJournal.

• Hyperliquid price is at $37 after hitting an all-time high above $39.
• The HYPE token is up amid massive buying pressure.
• Key on-chain metrics suggests the decentralized perpetual trading platform could explode to target $100.

Hyperliquid (HYPE) price reached its all-time high above $39 on May 26, breezing to the peak amid massive buying pressure.

HYPE has outpaced Solana and Cardano in recent performance.

Per market data, the decentralized perpetual trading platform recorded daily trading volume exceeding $426 million as HYPE reached a new all-time high.

This marked a significant increase from the $292 million logged the previous day when the token was trading around $34.

The layer 1 blockchain also managed other milestones across its ecosystem, with the price surge helping the total value locked jump to a new high.

Open interest also rose as HYPE’s uptrend continued to attract attention, while other on-chain metrics such as stablecoin market cap pumped to a record high.

Hyperliquid and key network growth

As noted above, on-chain metrics for Hyperliquid are pointing to potential upward continuation amid broader market moves.

Per Coinglass data, the open interest in the HYPE token has jumped to $1.41 billion.

OI hovered around $900 million last week. This represents an all-time high for OI in the token that traded to lows of $3.20 in late November 2024 and is up an impressive $1,061% since then.

The rebound as the altcoin reached its ATH was even bigger.

This positions HYPE for a potential breakout, as fear of missing out on one of the cycle’s top-performing altcoins draws in new buyers.

Whales have recently shown confidence in the long-term price of HYPE, and DeFiLlama shows the Hyperliquid 1 TVL has topped $1.75 billion.

The platform has seen daily revenue hit $1.87 million, while DEX and perps 24-hour counts stand at $509 million and $6.9 billion, respectively.

Meanwhile, the stablecoin market cap across the platform has grown to over $3.62 billion.

Hyperliquid is absolutely killing it:

– TVL is up 110% in the past month
– it’s the 4th largest L1 by mindshare
– it just hit a new ATH in open interest

Imagine the smell if the team also confirms a 2nd $HYPE airdrop. pic.twitter.com/CTRvleiKbC

— The DeFi Investor 🔎 (@TheDeFinvestor) May 27, 2025

HYPE price prediction

While Hyperliquid’s token has traded to lows of $36.14, as the area around $38 looks to offer bears an advantage, analysts are bullish about HYPE.

The surge to a new ATH has moved HYPE off the lows seen amid negative sentiment earlier in the year.

If bulls break above $40, could another leg up bring the much-desired $100 mark into view?

A rally for HYPE amid price discovery could see bulls target the psychological mark, in this case, catalysts including altcoins breakout and fundamental interest in the DEX and perps platform.

On the downside, key support levels could be around $32 and $26.

The post Hyperliquid price prediction: is $100 next after HYPE hit new ATH? appeared first on CoinJournal.

• XRP price has jumped to $2.36.
• The gains have buyers retesting key levels amid volume and open interest spikes
• Can bulls target a new all-time high above in the coming days?

Ripple’s XRP cryptocurrency is trading higher as the market registers notable gains in the past 24 hours.

The XRP price rose to above $2.36 on Monday, with the uptick coming alongside gains for Bitcoin, Ethereum, and Solana.

BTC hovered near $110k, up 2% in 24 hours.

Likewise, Ripple’s token edged higher, with CoinMarketCap data showing that the fourth-ranked cryptocurrency was up 2.4% in the past 24 hours.

While modest, the price jump has still seen XRP extend gains above the crucial $2 mark.

This latest flip is accompanied by a spike in both daily volume and open interest, suggesting confidence in the token’s outlook.

Why is the XRP price up today?

As highlighted above, XRP price is up amid gains for Bitcoin and the broader crypto market.

While the upward flip for the Ripple token is thus in line with this upturn, action in the past 24 hours and recent days has a lot to do with XRP-related news.

Combining these with broader market dynamics has bulls eyeing a potential breakout to its all-time high above $3.84.

Notably, XRP rose to above $3.02 in January 2025 amid legal victories and the euphoria around President Donald Trump’s election.

XRP price outlook

While XRP boasts about 2.5% gains in the last 24 hours, some altcoins such as Jupiter, Virtuals Protocol, Uniswap, and Artificial Superintelligence Alliance are registering double-digit moves in 24 hours.

The XRP token may not see such performances yet, but with momentum there, it’s likely the surge in trading volume and open interest will catalyse further strengthening.

According to Coinglass, open interest in XRP is up 2.7% to above $4.7 billion.

Daily volume reached over $2 billion, while Coinglass data showed derivatives volume was +17% to $3 billion as bulls take advantage of the upside.

On Monday, veteran trader Peter Brandt ignited debate on which is a better buy today between XRP and SOL.

Let’s say I will buy $100,000 of either $XRP or $SOL this week — no other option but ONLY one of the two please
Which one? State your case
40 words max or I’ll ignore
Remember, XRP or SOL – only choices pic.twitter.com/cNikoRICfd

— Peter Brandt (@PeterLBrandt) May 25, 2025

A move towards $3 for XRP may see buyers target $3 and then $3.8.

On the flipside, primary support will be at $2.

Although XRP hovers below these milestones, additional catalysts such as Ripple and XRP Ledger news have helped bulls.

Institutional adoption for Ripple, which is one of the biggest players in the market, has gained momentum with the launch of XRP Futures and exchange-traded funds – albeit an XRP ETF for the US market is yet to get approval from the Securities and Exchange Commission.

Recently, Ripple CEO Brad Garlinghouse highlighted the company’s growth potential in the  “Crypto In One Minute” podcast.

That and the RippleX news involving traction across tokenization in Dubai has traders bullish.

The post XRP price retests key level as volume jumps to $2b appeared first on CoinJournal.