Kategorie: Crypto Markets

• Solana price rises past $167 towards $170 after Pump.fun raises $500M in a record ICO.
• $75K in PUMP tokens have been burned due to a wallet cleanup mistake.
• Kraken has pledged a PUMP airdrop to users affected by sale glitches.

Solana (SOL) has surged past the $167 following a wave of momentum generated by the explosive success of Pump.fun. This new memecoin launchpad raised over $500 million in a record-breaking token sale.

The rally comes at a time when the broader crypto market is rising, buoyed by Bitcoin’s surge to a new ATH.

Analysts and traders are closely watching Solana’s price movement, as the network’s memecoin ecosystem appears to fuel both retail enthusiasm and whale interest at scale.

Pump.fun’s wild $500M ICO stuns crypto market

Pump.fun, a user-friendly token issuance platform built on the Solana blockchain, has made headlines by conducting one of the largest initial coin offerings in crypto history.

The platform raised an astonishing $500 million, with $448.5 million flowing in directly through its website in just 12 minutes, showcasing unparalleled demand and virality.

This overwhelming investor response highlights the strong appetite for Solana-based memecoin projects, especially those that simplify the token creation process for everyday users.

Around $51.5 million of the total ICO came through centralised exchanges, further reinforcing broad-based interest from both institutional and retail participants.

Although memecoin launches often spark scepticism, the scale of this ICO marks a major moment for Solana’s positioning in the DeFi and speculative token space.

PUMP token ownership concentration raises eyebrows

Despite the impressive raise, concerns are emerging over the concentration of token ownership within the PUMP ecosystem.

Data shows that the top 340 wallets acquired more than $300 million worth of PUMP tokens, representing about 60% of the entire ICO.

This level of centralisation has raised questions among traders about the future stability and decentralisation of the token, especially if large holders choose to exit positions suddenly.

Still, others argue that such early-stage accumulation by whales is typical in crypto fundraising and does not automatically indicate market manipulation.

$75K PUMP token burn sparks cleanup tool debate

While the hype around PUMP has been largely positive, one Solana user made headlines after accidentally burning $75,000 worth of tokens during a wallet cleanup.

Using an automated tool to clear what they believed were junk airdropped tokens, the user unknowingly included valuable PUMP tokens in the process, causing an irreversible loss.

⌠ Accidentally burned $75K worth of $PUMP ⌡

Some CT bros have been farming engagement and running scams with my wallet address, so here’s the real deal straight from me:

Wallet: 4X43DmYRtzLcyv2YRhC8vaTeqB5BTL6jX7LDtzfz47aC

I was just minding my business using @AxiomExchange… pic.twitter.com/HIt2lHyHS4

— CryptoCharming 🐟 (@CryptoCharming1) July 14, 2025

The incident quickly spread across the Solana community, sparking debate over the safety and design of automated wallet management tools.

Experts have warned that such tools, though convenient, can be dangerous if used without verifying token values, especially during early distribution phases when token metadata may not be clearly labelled.

Some observers noted that the accidental burn could have a bullish effect by slightly reducing the token’s supply, potentially increasing scarcity.

Kraken responds to user complaints with an airdrop pledge

In response to the controversy surrounding the PUMP token sale, Kraken co-founder Arjun Sethi stepped forward with a pledge to compensate affected users.

Sethi confirmed that Kraken reviewed its internal logs and identified users who experienced issues during the launch due to system glitches.

He promised an airdrop of PUMP tokens once the token becomes tradable, aiming to rebuild trust and improve transparency among the platform’s user base.

The move has been seen as a positive gesture, signalling Kraken’s commitment to user protection in a chaotic and fast-moving market segment.

Solana price surge towards $170

Following these developments, Solana’s native token, SOL, has risen to $167.92, at press time, pushing near the psychological resistance level of $170.

The highly anticipated breakout above $170 comes amid rising 24-hour trading volume, which has hit over $12.6 billion, and a market cap that now approaches $90 billion.

Notably, SOL’s price has climbed nearly 15% over the past month, as momentum from memecoin speculation converges with growing institutional interest in Solana-based protocols.

As traders look ahead, critical questions remain around sustainability, decentralisation, and platform innovation within the Solana ecosystem.

For now, the combination of speculative interest, high-profile support, and developer activity is propelling Solana (SOL) into the spotlight, with many wondering just how high it can go.

The post Solana $170 breakout after memecoin launchpad Pump.fun record token sale appeared first on CoinJournal.

• According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion.
• Bitcoin reached a new all-time high of $123,091.61 on Monday, as per CoinMarketCap data.
• Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

Bitcoin surged past the $120,000 mark for the first time earlier on Monday, driven by sustained institutional demand, strong exchange-traded fund (ETF) inflows, and renewed optimism surrounding upcoming US crypto legislation.

The world’s largest cryptocurrency was last seen at $122,559, up 3.23% at the time of writing.

Earlier, it reached a new all-time high of $123,091.61, as per CoinMarketCap data.

Over the past five days, Bitcoin has gained approximately 12%, extending its rally to a 103% increase compared to the same time last year.

According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion, making it the fifth-largest asset globally, ahead of Amazon, Silver, and Google.

Only Gold, NVIDIA, Microsoft, and Apple command higher market values.

ETF flows signal institutional conviction

Spot Bitcoin ETFs in the United States have pulled in $16.2 billion in cumulative inflows since April, according to data from SoSoValue.

The rise in ETF demand comes amid a broader shift among asset managers and hedge funds seeking exposure to Bitcoin as part of a diversified macro allocation.

Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

On Thursday, US spot BTC ETFs registered $1.18 billion inflows, which were followed by a $1.02 billion inflow on Friday.

Crypto Week in Washington fuels optimism

This week marks the beginning of the  “Crypto Week” in Washington, D.C., where lawmakers are expected to debate and possibly advance two key pieces of legislation: the CLARITY Act and the GENIUS Act.

The CLARITY Act aims to establish a formal regulatory framework for cryptocurrencies, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—a longstanding demand of the crypto sector.

The GENIUS Act, meanwhile, proposes a legal foundation for US dollar-pegged stablecoins, potentially paving the way for a clearer regulatory pathway for firms issuing or working with such digital assets.

Public companies continue BTC Accumulation

Market confidence is also reflected in corporate treasury activity.

According to available public disclosures, more than 125 publicly listed firms now collectively hold 847,000 BTC, which accounts for approximately 4.03% of Bitcoin’s capped 21 million supply.

Among these firms are high-profile names such as Strategy, Tesla, and several Bitcoin mining companies that retain coins on their balance sheets.

Analysts suggest these holdings add a layer of long-term price support, as most corporate buyers are unlikely to sell into short-term rallies.

Is above $130,000 next for BTC?

In a note last week, 10X Research said the latest breakout was driven by a clear shift in market structure toward a bullish trend.

While the firm had earlier anticipated a broader summer consolidation, its outlook turned more optimistic in recent weeks due to limited upside positioning, creating conditions for a sharp move higher.

The firm noted that a fresh trading signal was triggered when Bitcoin posted a new short-term high, indicating the rally may continue.

Historically, similar signals have delivered a median gain of 20%, with six out of ten instances resulting in positive returns.

If the pattern holds, 10X Research said Bitcoin could climb to $133,000 by September.

The post Bitcoin hits another all-time high at $123,000, beats Amazon to become the 5th largest asset by market cap appeared first on CoinJournal.

• Ondo Finance (ONDO) price has surged 10%, eying a breakout above $0.93
• LayerZero has joined Ondo’s Global Markets Alliance.
• Rising volume and TVL signal strong bullish momentum.

Ondo Finance (ONDO) is gaining strong upward momentum as bullish sentiment sweeps through the market, pushing the token up by more than 10% in the past 24 hours.

The price surge comes amid rising interest in real-world asset (RWA) tokenisation and growing investor confidence in Ondo’s broader strategic initiatives.

The ONDO token is currently trading at $0.929, recovering from a low of $0.8401 within the last 24 hours, and now hovering near the critical $0.93 breakout zone.

With bullish pressure building and higher lows consistently forming on the chart, traders are closely watching for a decisive move above resistance that could clear the path toward the psychologically significant $1 level.

ONDO has reclaimed key levels as bulls tighten grip

After briefly dipping below the $0.85 level earlier this week, Ondo Finance (ONDO) has bounced back with conviction, reclaiming and holding above the $0.90 mark.

This rebound is seen as a clear signal of strength, especially as the price consolidates near the upper end of its recent trading range.

The current rally has seen ONDO surge from a weekly low of $0.7668 to test $0.9279, marking a robust 19.4% gain over the past seven days.

Although the token remains about 56% below its all-time high of $2.14, reached in December 2024, the present momentum is driving renewed optimism among traders eyeing short-term breakout targets.

Market analysts suggest that if ONDO clears the $0.93 resistance with strong volume, the next likely targets are between $0.9350 and $0.9500.

While the price faces minor hurdles along the way, the formation of higher lows coupled with rising volume indicates that bulls remain firmly in control.

Strong fundamentals fuel investor optimism

While price action continues to attract traders, ONDO’s fundamentals are playing an equally vital role in reinforcing confidence.

The token currently holds a market cap of approximately $2.93 billion, with a fully diluted valuation of over $9.28 billion, highlighting its growing significance in the broader DeFi ecosystem.

Recent updates from Ondo Finance also point to strategic moves designed to strengthen its global position.

Notably, the project announced that LayerZero, a leading interoperability protocol supporting more than 130 blockchains, has joined its Global Markets Alliance.

This partnership enhances Ondo’s goal of bringing traditional financial markets on-chain and enabling cross-chain asset issuance at scale.

According to the team, seamless connectivity across blockchains is no longer optional—it’s essential in modern global finance.

Rising Ondo Finance TVL signals show growing interest

Apart from price action and partnerships, other metrics further reflect ONDO’s rising profile. The platform now boasts over $1.39 billion in total value locked (TVL), which reinforces the depth of capital flowing into its ecosystem.

Additionally, with a 24-hour trading volume of nearly $292 million, ONDO is seeing increased liquidity and engagement from both retail and institutional participants.

This level of market activity often serves as a precursor to strong price breakouts, particularly when combined with bullish chart setups and fundamental strength.

Bulls are targeting the $1 milestone as the next major test

As Ondo Finance (ONDO) hovers near the $0.93 resistance zone, the stage is set for a potential breakout that could carry the token to new local highs.

A clean move above this level, backed by volume and sustained buying, could put the $1 psychological target well within reach.

However, traders will be closely watching whether the $0.8900 support level can hold if momentum stalls.

Should the token maintain its current structure, a continued push higher appears likely in the coming sessions.

With strong fundamentals, growing alliances, and increasing market interest, ONDO remains one of the standout tokens to watch in the RWA and DeFi space this week.

The post Ondo Finance (ONDO) price up 10% as bulls target $1 appeared first on CoinJournal.

• At the time of writing, the total amount returned to GMX stood at approximately $20 million.
• GMX acknowledged the technical sophistication of the exploit and issued a $5 million bounty for the return of funds.
• The attacker reportedly manipulated the price of GLP tokens, draining a variety of crypto assets from the platform.

The attacker who exploited a vulnerability in the GMX v1 decentralised exchange and stole approximately $40 million in crypto has begun returning the stolen assets after accepting a bounty offered by the GMX team.

According to blockchain security firm PeckShield, the hacker sent an on-chain message acknowledging the bounty and indicating willingness to cooperate.

“Ok, funds will be returned later,” the exploiter wrote in a blockchain transaction, referencing the terms outlined by GMX for a partial return of the stolen funds.

The hacker starts transferring funds back

Less than an hour after the message was broadcast, the attacker began transferring funds back to the address specified by GMX.

PeckShield reported that about $9 million in Ether (ETH) was sent to the team.

The Ethereum address used in the transaction has been labelled GMX Exploiter 2 on blockchain tracking platforms.

PeckShield also flagged two separate transfers of FRAX stablecoins, with the attacker returning $5.5 million in one transaction and an additional $5 million later.

At the time of writing, the total amount returned to GMX stood at approximately $20 million, representing half of the stolen assets.

The original exploit, which occurred on Wednesday, targeted a liquidity pool on GMX v1, a perpetual trading protocol deployed on the Arbitrum Layer 2 network.

The attacker reportedly manipulated the price of GLP tokens, draining a variety of crypto assets from the platform by exploiting a design flaw in the protocol.

GMX offered $5 million white hat bounty

In response to the breach, GMX acknowledged the technical sophistication of the exploit and issued a $5 million bounty for the return of funds.

In a post on X (formerly Twitter), the GMX team addressed the hacker directly, offering the bounty under a “white hat” classification, which would allow the attacker to spend the funds legally if the bulk of the assets were returned.

“You’ve successfully executed the exploit; your abilities in doing so are evident to anyone looking into the exploit transactions,” GMX wrote. “The white hat bug bounty of $5 million continues to be available.”

The team emphasized that the bounty was intended to eliminate legal and practical risks associated with using stolen crypto.

GMX also offered to provide proof of the source of funds if needed, enabling the exploiter to pass compliance checks or audits.

In addition to the public bounty, the GMX team issued an on-chain ultimatum, stating that legal action would be pursued within 48 hours if the funds were not returned.

The post Hacker starts returning $40M in stolen funds from GMX exploit appeared first on CoinJournal.