Kategorie: Crypto Markets

• Strategy bought 245 Bitcoin for $26 million between June 16–22, one of its smallest weekly purchases since ramping up buying.
• The company has now gone four weeks funding Bitcoin purchases without selling common stock, using preferred shares instead.
• Strategy’s stock has soared over 3,000% since 2020, significantly outperforming Bitcoin’s 1,000% rise in the same period.

Strategy, the digital-asset treasury firm formerly known as MicroStrategy Inc., purchased $26 million worth of Bitcoin over the past seven days.

This marks the second-smallest weekly acquisition by the company since it ramped up cryptocurrency buying more than six months ago under the leadership of Executive Chairman Michael Saylor.

Latest acquisition

Between June 16 and June 22, Strategy acquired 245 Bitcoins at an average price of $105,856 each, according to a filing with the U.S. Securities and Exchange Commission on Monday.

While the firm has occasionally skipped weekly purchases, this week’s buy was the lowest since it acquired 130 Bitcoins during the week ending March 17.

Strategy, based in Tysons Corner, Virginia, now holds Bitcoin valued at approximately $60 billion.

Strategy’s executive Chairman, Michael Saylor, in a tweet, confirmed the purchase.

According to Saylor, the company now holds 592,345 bitcoins, acquired for $41.87 billion at $70,681 per bitcoin. 

The company has 19.2% year to date in BTC holdings, Saylor added.

Consistent buying, no equity Sales

For the fourth consecutive week, Strategy funded its Bitcoin purchases without selling any common stock.

Critics of the company’s approach, including short-seller Jim Chanos, have expressed concern over the high premium at which Strategy’s shares trade relative to the value of its Bitcoin holdings.

The company used net proceeds from the sale of its Strike preferred stock (STRK) and Strife preferred stock (STRF) to finance the latest Bitcoin acquisition. Saylor, a co-founder of Strategy, continues to lead the company’s aggressive cryptocurrency investment strategy.

Since the company first began acquiring Bitcoin in mid-2020, its shares have surged over 3,000%, far outpacing Bitcoin’s own rise of about 1,000% during the same timeframe.

Strategy had added aggressive positions in BTC in the previous weeks.

On June 16, the company bought 10,100 BTC at an average price of $104,080.

The company added positions when the market dipped due to the Israel-Iran conflict.

Since initiating its Bitcoin purchasing program in mid-2020, Strategy’s shares have soared over 3,000%.

By comparison, Bitcoin has gained around 1,000% in the same period. On Monday, Strategy’s stock fell 2.48% to $360.52.

From software to digital assets

MicroStrategy, historically known as an enterprise software company, shifted its corporate focus toward Bitcoin under Saylor’s leadership in 2020.

The firm now functions more like a Bitcoin treasury vehicle, drawing attention from both crypto advocates and traditional financial analysts.

While the strategy has delivered substantial returns, it remains controversial due to the volatility of cryptocurrency markets and the company’s aggressive capital deployment into digital assets.

The post Strategy makes modest Bitcoin purchase amid ongoing accumulation appeared first on CoinJournal.

• The Gains Network (GNS) token price has dropped 19.3% today after a 31% weekly rally.
• Rising Bitcoin dominance has fueled an altcoins’ weakness and retail sell-offs.
• The ongoing GNS burn vote is key to GNS’s next move, with the current support being at $1.39.

Gains Network (GNS), a popular decentralised derivatives trading protocol on Arbitrum, has seen its token price plunge 19.3% in the last 24 hours, raising concerns over whether the recent bullish recovery is now fading out.

While GNS had surged by 31% over the past week, today’s sharp pullback has triggered nervous speculation among traders who had begun positioning for a breakout toward higher levels.

Notably, the sell-off follows what appears to be a combination of technical exhaustion, profit-taking, and broader market weakness among altcoins.

Profit-taking has met overheated charts

One of the immediate triggers for the current dip was likely a round of aggressive profit-taking after the strong 7-day rally that had propelled GNS to a local high of $2.50.

Prior to the drop, the 14-day Relative Strength Index (RSI) had surged to 82, firmly placing GNS in overbought territory and historically signaling a short-term correction.

As selling pressure increased, the token dropped below its 200-day Exponential Moving Average (EMA) at $1.57, a level that had been acting as key support just days earlier.

Although the MACD histogram remained slightly positive at +0.063, momentum indicators revealed that bullish strength was fading rapidly, leaving the door open for further downside.

Adding to the concern, trading volume fell 14% to $45.2 million over the past 24 hours, indicating weakening buying interest and reduced conviction in the latest rally.

Bitcoin dominance has stolen the spotlight

Market-wide dynamics have also played a major role in amplifying the GNS decline, as Bitcoin’s dominance rose to 64.83%, its highest level in months.

In periods of rising Bitcoin dominance, altcoins often suffer as capital rotates into the more stable and liquid BTC market, leaving smaller tokens exposed to increased selling.

The Altcoin Season Index, currently reading 14, suggests that we are firmly in a “Bitcoin Season,” a historically bearish phase for mid-cap tokens like GNS.

In addition, GNS shares a strong 30-day correlation of 0.76 with Bitcoin, meaning that major shifts in BTC’s price and sentiment often echo across the GNS chart.

The broader crypto market has entered a risk-off mood, as shown by the Fear & Greed Index dropping to 37, reinforcing pressure on altcoins already stretched by recent gains.

Gains Network (GNS) governance vote looms large

Despite today’s pullback, GNS remains one of the more fundamentally robust DeFi tokens, thanks to a pending governance proposal that could reshape its tokenomics.

The community is currently voting on whether to extend the protocol’s buyback-and-burn model indefinitely, after a successful trial in late 2024 that sparked a 60% price rally.

Under the proposed framework, 90% of staking rewards and protocol revenue—$603,000 in May alone—would be permanently redirected toward burning GNS tokens.

This move, if approved, would lock in a deflationary model that could significantly enhance long-term value by reducing supply over time.

However, the token’s distribution remains heavily skewed, with whale wallets controlling 76.6% of the supply, a factor that increases short-term volatility and makes GNS more sensitive to sentiment shifts.

Competition and sustainability in focus

While GNS remains the second-largest derivatives protocol on Arbitrum, just behind GMX, rising competition poses a credible threat to its market share.

Ostium Labs, a newer rival, generated $530,000 in protocol revenue in May, signaling that challengers are beginning to eat into GNS’s dominance in the niche.

Nonetheless, Gains Network continues to operate at a gross margin of 98%, reflecting high operational efficiency and a sustainable business model.

Whether GNS can maintain its edge may depend on its ability to diversify revenue streams and expand beyond Arbitrum to other ecosystems like zkSync, Base, or Polygon.

Protocol-level innovation, rather than just token momentum, will likely decide how resilient GNS remains in the face of competitive pressure.

A test of resilience or a trend reversal?

For now, GNS is testing key technical support at $1.39, which represents the 78.6% Fibonacci retracement level of its most recent price swing.

Holding this level could stabilise price action and prevent deeper losses, especially if market conditions improve and Bitcoin dominance begins to taper off.

Traders and investors will be watching closely for the outcome of the burn proposal vote, which could re-ignite bullish sentiment if passed.

While today’s drop is significant, it may not necessarily signal the end of GNS’s recovery, but rather a healthy correction in an otherwise strong, narrative-driven trend.

With protocol fundamentals still intact and community engagement rising, Gains Network’s next move will depend as much on sentiment and governance as it will on market cycles.

The post Gains Network (GNS) down 19% today: Is it the end of its recovery? appeared first on CoinJournal.

• Story (IP) token price surged 15% to above $3, driven by Bitcoin’s recovery and whale accumulation.
• Two major whales acquired 16 million IP tokens worth $47.52 million, indicating strong investor interest.
• Analysts predict IP could retest the $4-$5 supply wall.

Story (IP) is trading above $3 after surging 15% in 24 hours amid notable market turmoil.

This IP price surge comes in the wake of Bitcoin’s recovery from its recent lows of $98,500, which happened amid rising geopolitical tensions.

But with BTC back above $101k, market sentiment sees Story protocol token IP up.

Commenting on the current market outlook, crypto analyst IncomeSharks said:

Want to know why so many are bearish? It’s in the charts. We saw institutions, hedgefunds, and retail all start selling or shorting the local bottom. Then we had a violent V shape recovery which has squeezed or sidelined most. The FUD has started with moodys, tariffs, war, etc.

Whales buy Story (IP) dip

Recent data from blockchain analytics firm Lookonchain highlights a substantial accumulation of Story (IP) tokens by two major whale addresses.

Whale 0x9921 has amassed 6 million IP tokens, valued at approximately $17.82 million, while whale 0x9057 has acquired 10 million tokens, totaling $29.7 million.

Together, these transactions represent a collective purchase of 16 million IP tokens, worth $47.52 million, executed in recent days.

The blockchain records reveal multiple successful coin transfers to these addresses, with values ranging from 2.5 million to 3 million IP per transaction, accompanied by negligible fees.

This is not the first instance of significant whale interest in IP. Earlier this year, exchanges reported an outflow of $4.67 million worth of IP tokens.

As then, this suggested prior accumulation by large investors.

Those purchases preceded a 40% price surge, mirroring the today’s bounce despite broader market’s fading bullish momentum.

The recent whale activity, coupled with a 12.8% daily price increase, underscores a pattern of strategic buying during dips, potentially positioning IP for further gains.

Story price forecast

Market analysts attribute trader optimism to IP’s ranking as a top 100 cryptocurrency by market cap, with a value of $896 million.

The project’s focus on intellectual property asset management is fueling interest.

Based on current whale activity and a bullish market outlook, IP price could target resistance in the $4.00-$5.00 region.

However, if prices flip negative, the altcoin could revisit support levels at $2.75 and $2.50.

Analysts at Sentiment point to what traders may pay attention to in the short term.

IP price hovered around $3.09 at the time of writing. Daily trading volume was up more than 100% to over $46 million. Meanwhile, open interest stood at over $71 million.

The post Story (IP) price jumps as whales buy 16 million tokens appeared first on CoinJournal.

• FLOKI is trading near a key support at $0.00007000 amid an extended bearish trend.
• The Valhalla mainnet launch, scheduled for June 30, may trigger bullish momentum.
• A break above $0.00007500 could signal a strong price reversal.

Floki Inu (FLOKI), the popular dog-themed cryptocurrency with growing utility, is once again in the spotlight as traders evaluate whether it has reached its lowest point.

After months of price erosion, a mixture of technical signals, community momentum, and upcoming developments has reignited speculation about a potential reversal.

As meme coins like SPX reach new highs, many eyes are turning back to FLOKI to see whether it could be next in line for a bullish breakout.

Price pressure tests investor patience

The current price of FLOKI stands at $0.00007344, positioning it at the lower edge of its recent trading range.

Although this price level appears weak on the surface, many traders see it as a key psychological zone where buying activity may intensify.

Over the past few weeks, FLOKI has experienced a steady slide, losing over 23% in the last 30 days and nearly 60% over the past year.

Despite the decline, analysts note that the token’s behaviour has shown signs of potential accumulation, especially as it struggles to hold above the $0.00007000 support level.

Technical signals show short-term weakness

Technical analysis confirms that FLOKI is currently in a short-term bearish phase.

The 7-day moving average is now at $0.00007606, slightly above the 25-day average of $0.00008455, while the longer-term 100-day moving average sits at $0.00007661.

With the current price of $0.00007603 below all three simple moving averages, especially the short-term ones, the market is signalling increased selling pressure and limited bullish strength in the immediate term.

However, the narrow spread between the 7-day and 100-day averages indicates a tightly contested battle between bulls and bears, suggesting that a breakout could be imminent if volume increases.

Community hype and utility developments offer hope

Beyond charts and candles, the broader FLOKI ecosystem is giving traders a reason to stay hopeful.

The much-anticipated Valhalla mainnet launch, scheduled for June 30, is being touted as a major milestone for the project.

The launch of the Valhalla mainnet is expected to bring real gameplay and user interaction to the FLOKI metaverse, possibly attracting new users and liquidity into the ecosystem.

In addition to gaming utility, FLOKI’s affiliated platform, TokenFi, is gaining attention as Singapore-based Davis Commodities launches tokenised real-world goods such as rice, sugar, and edible oils on TokenFi.

This move positions FLOKI as more than just a meme coin, adding real-world credibility to its portfolio.

Can FLOKI reclaim momentum?

The market cap of FLOKI currently hovers around $735 million, with some speculators now questioning whether a run toward $1 billion — or even $2 billion — could be on the horizon.

Such a move would require a combination of market momentum, renewed buying interest, and positive sentiment across the broader crypto space.

Bullish divergences spotted on various trading charts suggest that FLOKI could be nearing a pivot point, especially if it manages to break through the near-term resistance at $0.00007500.

If the broader market remains favourable and the June 30 Valhalla launch delivers on expectations, FLOKI could rebound sharply from its current levels.

For now, traders are wise to keep an eye on support at $0.00007000 and resistance at $0.00007500, as these zones could determine FLOKI’s next big move.

The post Floki Inu price forecast: has FLOKI hit bottom? appeared first on CoinJournal.