Kategorie: Crypto Business

Daily headlines and news about crypto business.

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Toncoin outlook as Coinbase Ventures joins TON’s mission to supercharge crypto adoption

  • Coinbase Ventures is officially a Toncoin holder, representing a key endorsement of TON’s mission.
  • The Open Network aims to bring crypto to billions of users through Telegram.
  • Toncoin price flashed bullish sentiments following the revelations.

Most altcoins displayed weakness late on Monday as Bitcoin’s rising dominance dents the altseason narrative.

While BTC sets the market tone, the Ton Foundation announced a significant win for its global vision of making cryptocurrencies accessible to the masses.

The Foundation took it to X to announce that Coinbase Ventures is among the holders of its native token, Toncoin.

While it didn’t disclose the size of their allocation, the move reflects confidence in TON’s digital assets adoption ambitions.

Commenting on the development, the TON team perceives the gestures as:

Another strong sign of belief in our mission: bringing crypto to the masses through Telegram’s billions of users through real utility, real adoption, and real ownership.

The announcement has sparked debates within the Toncoin community, boosting sentiments among holders.

For The Open Network, the investment represents a partnership that could unlock mainstream recognition and global adoption.

The native coin reflected the prevailing optimism with minor price jumps despite a bearish bias in the broad market.

Bringing cryptocurrencies to the masses

TON has a simple and ambitious objectives, which have drawn industry leaders like Verb Technology.

It looks to make crypto part of our day-to-day activities.

The team aims to leverage Telegram’s nearly 1 billion users to create a venue where transferring digital assets is as easy as sending messages.

The Open Network removes daunting technical barriers and complex onboarding processes, focusing on real-world utility integrated within an application that people use daily.

Meanwhile, Coinbase’s support matters for the project.

Coinbase Ventures is among the dominant names in the cryptocurrency sector, known for backing projects that grow into industry leaders.

Coinbase Ventures’ involvement boosts brand exposure, attracting exchange integration and elevating assets’ appeal to retail and institutional investors.

Thus, TON could benefit from increased market reach, strategic connection with Western investors, and attention in the international cryptocurrency conversation.

Toncoin’s team said:

As one of the most recognized investors in the Web3 space, Coinbase Ventures, joining the growing list of Toncoin holders is a major vote of confidence in the future of The Open Network.

Notably, Coinbase Ventures joins other early supporters – Benchmark, Ribbit Capital, and Sequoia Capital.

These companies have gained prominence for spotting lucrative projects long before they attain mainstream recognition.

Toncoin price outlook

The alt trades at $3.37 after gaining 1.7% in the past 24 hours.

Toncoin displays resilience as bearish tendencies dominate the crypto sector.

While continued broad market declines could erase Toncoin’s latest gains, Coinbase Ventures’ support indicates trust in the token’s long-term potential.

Most importantly, developments like these reveal which projects to track amid bull runs.

Toncoin’s current price places it beneath the crucial 0.618 FIB resistance.

The area has historically catalyzed significant trend reversals.

Surpassing this hurdle could trigger gains towards $5.0 – $5.5 and towards all-time highs above $8.

However, failure to hold above the support barrier at $3.0 might herald price dips to the $2.20 foothold.

The post Toncoin outlook as Coinbase Ventures joins TON’s mission to supercharge crypto adoption appeared first on CoinJournal.

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Solana DEX volume dips 20% after co-founder slams meme coins

  • Solana’s DEX volume has lost nearly $700 million since Monday.
  • The downside follows comments from its co-founder criticizing meme tokens and NFTs.
  • The remarks sparked debates, especially since meme cryptos have fueled Solana’s growth.

The latest comments from Solana’s co-founder, Anatoly Yakovenko, left speculative trading enthusiasts shaken.

Meanwhile, the blockchain reflects the impact on the decentralized exchange (DEX) front.

Yakovenko dismissed NFTs and meme coins as assets without intrinsic value in a July 27 X post.

He compared them to a mobile game loot box, which serves speculative individuals.

Meanwhile, the comments dented sentiments as Solana’s DEX volume has seen a 220% decline from Monday’s $3.071 billion to $2.374 billion today.

While sudden dips are not uncommon in the cryptocurrency industry, some participants are connecting the dots.

Meme cryptos have fueled Solana’s growth

It is the irony that grabbed the community’s attention. While meme tokens lack traditional utility, they have been vital in Solana’s latest boom.

Nearly all themed cryptocurrencies that have dominated trends in the past few years launched on the SOL blockchain.

PNUT, WIF, FARTCOIN, and the current PENGU, you can name them.

Furthermore, Solana boasts the largest meme launchpads (Pump.fun and Raydium).

At times when top chains like Ethereum and Cardano were quiet, Solana flourished due to viral meme assets and NFTs.

Moreover, leading Solana DEXs like Jupiter thrived during meme coin seasons.

With these trends, Solana attained a strong community, culture, profits, and growth momentum.

Thus, many equate Yakovenko’s comments to biting the hand that fed their ecosystem.

Solana-based exchanges have experienced substantial slowdowns days following the controversial comments.

Whether the 20% slide is a usual cool-off or a reaction to Yakovenko’s remarks, Solana’s ecosystem took a hit.

The tone might have discouraged some participants, who are likely considering alternative meme launchpads.

For digital assets enthusiasts, meme tokens and NFTs represent culture, accessibility, and creativity in the crypto industry.

Moreover, they lower entry barriers into Web3.

Meme tokens lack value, but drive excitement

Yakovenko’s comments weren’t unfounded. Most meme tokens lack utility beyond attention.

They face criticism since they lack legitimate backing, use cases, and the fact that most creators launch them as speculative plays.

Projects can record staggering surges overnight and crash within minutes.

You probably remember the controversial LIBRA case.

Libra surged to $224 million market capitalization project before crashing within hours, leaving its investors with massive losses.

Its current market cap is $3.94 million.

Hype, not fundamentals, dictates the life cycles of most meme coins.

However, they also work. While themed cryptocurrencies lack substance, they attract attention and excitement in the digital currency markets.

Also, they onboard retailers who want to join the market without navigating complex protocols.

This phenomenon has benefited Solana, putting it in the spotlight during periods when top blockchains felt dormant.

Though Yakovenko’s remarks appear true, they exposed the fragility between market behavior and logic in crypto.

Besides decentralization, the fun side of the blockchain industry remains vital for the sector’s liveliness.

The post Solana DEX volume dips 20% after co-founder slams meme coins appeared first on CoinJournal.

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FARTCOIN price dips 20% as top whale takes profit

  • A large-scale holder has just offloaded 3 million FARTCOIN.
  • The meme token’s price has dropped 20% on the 24-hour chart.
  • Meme cryptos have plunged after the latest criticisms from Solana’s co-founder.

Digital tokens recorded mixed performances in the past 24 hours, with most coins plunging.

The meme token space witnessed multiple activities.

While Gemini announced DOGE and SHIB as collaterals, a dramatic move shocked the Fartcoin community.

According to Lookonchain, address 24BLFj has dumped a massive 3 million FARTCOIN tokens, pocketing $3.65 million.

The investor sold at $1.22 as Fartcoin plunged from the intraday high of $1.4017.

The meme cryptocurrency fell to $1.1253, a 19.71% decline from the daily peak.

While Solana co-founder’s latest criticism of meme assets contributes to FARTCOIN’s weakness, the whale sell-off adds to the selling pressure.

Anatoly Yakovenko said NFTs and meme cryptocurrencies lack intrinsic value.

Meanwhile, this whale has invested in Fartcoin since late February, accumulating 8.89 million coins at discounted prices.

Notably, the whale spent $0.26 on average to purchase the assets between 26 February and 21 March.

The strategic investment, worth only $2.31 million, has grown to a massive profit of $8.07 million, a 349% ROI.

While the large-scale offload has impacted the markets, it also shows that the investor played a long game with FARTCOIN.

Most importantly, the sale could indicate dwindling confidence in FARTCOIN’s short-term performance.

Is the meme token set for further declines?

Fartcoin has plummeted continuously from $1.6843 on 23 July.

Nevertheless, the whale has not dumped all his stash.

They still hold FARTCOIN worth approximately $2.15 million (1.89 million coins).

Thus, the offload signals a potential strategy change, not a complete exit. The investor could be bracing for more returns in a rebound.

Most importantly, the sale reflects a calculated move.

While panic sellers dump all their assets at once, the smart whale takes partial profits while waiting for any future rally.

FARTCOIN price outlook

The meme coin trades at $1.18 with a bearish structure.

The 50% increase in daily trading volume signals intensified trader activity in FARTCOIN.

That signals players seeking opportunities in the prevailing volatility or exiting their positions.

The prevailing broad market sentiments support continued struggle for Fartcoin.

Meme coin market overview

The meme cryptocurrency space endured a bloodbath on Tuesday, with Dogecoin, Shiba Inu, and PEPE losing up to 10% on their daily charts.

The seven-day timeframe also confirms bearish dominance.

Only PENGU (+8.5%) and SPX (+18%) exhibit 7D days among the top meme coins by value.

CoinGecko data shows the meme coins’ market cap plunged 4.6% the previous day to $79.55 billion.

The substantial daily trading volume dip indicates dwindling interest in themed digital coins.

The latest critique by Solana co-founder Anatoly Yakovenko magnified bearish sentiments in the meme crypto space.

While meme activity has fueled Solana’s growth, Yakovenko blasted the asset class.

He boldly said that “memecoins and NFTs are digital slop and have no intrinsic value.”

Nevertheless, meme cryptocurrencies have proven crucial for the digital assets economy, often used as a proxy for broad market sentiments.

The post FARTCOIN price dips 20% as top whale takes profit 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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Altcoins today: Solana and Monero at key price levels amid market cooldown

  • SOL reclaims $200 for the first time since February today.
  • XMR targets further gains after rebounding from a vital support barrier at $313.
  • Crypto market cools after recent rallies, but bullish structures remain intact.

Digital coins displayed mixed performances on Tuesday amid bull exhaustion and profit-taking after the latest remarkable rallies.

Ethereum has corrected from yesterday’s peak of $3,854 to $3,640 at press time, while Bitcoin remained range-bound at $118,000.

However, Solana and Monero stole the spotlight among large-cap tokens with notable price movements on their charts.

SOL hit multi-month highs today after soaring past the vital $200, whereas XMR exhibits a bullish outlook after bouncing back from a reliable support zone at $313.

Solana leads today’s rally

SOL emerged as the best-performing token among the top ten cryptocurrencies by value.

The alt has rallied from last week’s low of $158 to an intraday high of $204 today, exploring regions not touched since early February 2025.

With network maturity and demand fueling SOL’s comeback, the digital asset seems set for extended rallies in the near term.

Its total value locked has increased to February levels above $11 billion, while institutions add momentum through Solana strategic reserves and ETF applications.

SOL eyes more uptrends following the latest breakout, with technical indicators setting $300 as the key target.

That would translate to about a 50% surge from its current market price.

Nevertheless, the $190 – $200 range remains vital for SOL’s short-term trajectory.

Intensified profit-booking in this region could delay the projected short-term rally.

Enthusiasts should watch for potential dips to $189 before a decisive closing above $200.

However, prevailing sentiments suggest fewer obstacles in Solana’s upward path.

Monero holds a key support zone

The top privacy token seems prepared for the next leg up despite its weakening momentum.

XMR’s current price of $325 places it well above the crucial support of $313.

This foothold is reinforced by multiple technical indicators, including POC (point of control) and 0.618 FIB retracement.

That makes $313 a vital reversal region. Monero’s bullish structure remains intact if buyers hold this zone.

That could clear the path to the target at $344.

Overcoming this resistance could trigger significant surges if broad market conditions remain favourable.

Crypto market overview

The cryptocurrency space has taken a breather after the latest surges.

The largest assets, Bitcoin and Ethereum, have seen slight dips in the past 24 hours.

However, the market demonstrates stability, indicating a consolidation phase and not a correction one.

Michael van de Poppe highlighted that Bitcoin has collected liquidity with its recent price actions.

However, it remains in a constricted range, awaiting “the actual volatility” that could catalyse sharp gains.

The analyst also warned about possible violent corrections for altcoins as Ethereum isn’t grabbing much liquidity with its ongoing retracement.

Meanwhile, corrections in cryptocurrencies aren’t uncommon, especially after substantial rallies.

Most assets exhibit bullish patterns, hinting at continued rallies.

Institutional interest in Ethereum remains steady as markets brace for altcoin season.

Thus, market players may brace for substantial breakouts after the prevailing cooldown.

Analysts advise traders and investors to explore dip-buying opportunities if the short-term declines intensify.

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