Kategorie: Crypto Markets

• VIRTUAL breaks out of a 5-month pattern, eyes $5 target.
• On-chain metrics show strong user activity and accumulation.
• Gaming partnership boosts token utility beyond trading.

Virtuals Protocol (VIRTUAL), one of the standout performers in the artificial intelligence (AI) crypto space, has broken through a key technical level, setting its sights on a potential rally toward the $5 mark.

The token, which has surged over 10% in a single day, reclaimed the $2 psychological level after dipping briefly last week, a move that analysts see as the beginning of a larger breakout.

AI crypto market sentiment is rebounding

Importantly, VIRTUAL’s latest price action confirmed the end of a five-month consolidation phase, marked by a cup-like pattern that began forming after its January peak.

Following its April low of $0.41, Virtuals protocol’s token began carving a U-shaped recovery, which has now matured into a bullish breakout above the $2.22 resistance zone, often referred to as the neckline in technical charting.

Notably, the breakout comes at a time when market sentiment around AI tokens is rebounding, buoyed by anticipation surrounding NVIDIA’s earnings report, which is expected to reflect strong AI-driven revenue growth.

With NVIDIA projected to post a 65% year-on-year revenue increase, investors are eyeing broader gains in AI-aligned cryptocurrencies, including VIRTUAL, which has strong ties to AI ecosystems.

Virtuals Protocol price outlook

VIRTUAL’s fundamentals appear to be strengthening as on-chain activity surges alongside renewed investor interest.

According to recent analytics, the price-to-daily active addresses (DAA) divergence metric has spiked nearly 400% in just one week, highlighting a dramatic rise in user engagement and network activity.

This metric, often a leading indicator for price movements, suggests that the current rally is being driven by organic growth rather than short-term speculation.

Simultaneously, the Chaikin Money Flow (CMF) indicator, which tracks accumulation and distribution trends, remains above the zero line, signalling persistent buying pressure.

Moreover, the Bull Bear Power (BBP) histogram has flashed consistent green signals, reinforcing the narrative that buyers currently dominate market momentum.

While smart money investors have recently reduced their exposure, with holdings falling from 11.9 million to 7.1 million tokens, the technical strength appears to be countering these outflows.

In addition to strong chart patterns and on-chain signals, the Virtuals protocol is gaining traction through a newly announced partnership with a top-tier blockchain gaming studio.

This collaboration aims to embed VIRTUAL tokens into upcoming play-to-earn and metaverse titles, further expanding the token’s real-world utility beyond speculative trading.

Notably, such strategic moves could help sustain demand by introducing VIRTUAL to an entirely new segment of users in the gaming ecosystem.

As a result, analysts now view the $2.81 resistance level as the next key hurdle, which, if broken, could pave the way for a move toward the 0.382 Fibonacci retracement level at $3.0688.

Should bullish momentum persist, the token could revisit its all-time high of $5.13, which it last touched in January, thereby completing a full recovery and signaling a possible continuation of its long-term uptrend.

However, traders remain cautious about the $2.24 support zone, as failure to hold this level might invalidate the bullish outlook and trigger a drop toward $1.44.

The post Virtuals Protocol token targets $5 after breaking from a 5-month technical pattern appeared first on CoinJournal.

• Price range set between $24.00 and $26.00 per share.
• Offering led by J.P. Morgan, Citigroup, and Goldman Sachs.
• 9.6 million shares offered by Circle, 14.4 million by existing holders.

Circle Internet Group, the company behind the world’s second-largest stablecoin USDC, has filed to go public on the New York Stock Exchange. The move could generate up to $624 million in proceeds if the shares are priced at the upper end of the $24.00 to $26.00 range.

The proposed offering includes 24 million shares of Class A common stock under the ticker “CRCL”, with 9.6 million offered by Circle itself and the remainder from existing shareholders.

Circle’s public listing attempt comes at a time of rapid transformation in the stablecoin market, where institutional players are gaining prominence and regulation is beginning to catch up.

With stablecoins being seen as the bridge between traditional finance and decentralised ecosystems, the IPO is expected to shape investor sentiment in this emerging sector.

Major banks lead Circle IPO

Circle’s IPO will be led by financial heavyweights, including J.P. Morgan, Citigroup, and Goldman Sachs, alongside several co-managers.

The firm has also provided underwriters a 30-day option to purchase up to 3.6 million more shares in the event of high demand.

This marks a strong show of confidence from Wall Street at a time when digital asset companies have faced scrutiny from both lawmakers and markets.

Institutional interest in stablecoins has grown in recent quarters. Unlike volatile cryptocurrencies such as Bitcoin or Ether, stablecoins like USDC are pegged to fiat currencies and serve as reliable vehicles for payments, remittances, and DeFi applications.

Circle’s decision to tap public markets could signal broader mainstream adoption of stablecoin infrastructure, even as broader market uncertainty lingers.

Rumours of acquisition before filing

The announcement of Circle’s IPO follows recent speculation that the company could be acquired by larger crypto firms.

Reports surfaced earlier this year linking Ripple, the developer of XRP, and Coinbase, the Nasdaq-listed exchange, to potential acquisition discussions with Circle. However, Tuesday’s filing confirms that Circle is moving ahead independently.

Circle had previously filed an S-1 form with the US Securities and Exchange Commission in April 2024.

While early reports indicated a potential delay in its IPO plans due to market volatility triggered by former president Donald Trump’s renewed tariff stance, no formal announcement of postponement was ever made by the company.

The filing on May 21 represents a reassertion of Circle’s intent to join the public markets despite external economic factors.

Regulatory risk still looms

Although the IPO remains subject to final SEC approval and market conditions, its timing comes amid growing debate over how stablecoins should be regulated in the US.

With the Securities and Exchange Commission and Federal Reserve taking a keener interest in digital dollar instruments, Circle’s listing could offer investors a rare glimpse into the financial mechanics of a stablecoin operator.

The IPO also serves as a barometer for how traditional financial institutions perceive the role of tokenised assets. Circle’s USDC supply has fluctuated with market demand but remains a key instrument in crypto trading pairs and decentralised lending platforms.

A successful IPO may provide further validation for the token’s broader use in cross-border transactions and settlement mechanisms.

Circle’s move toward a public listing is one of the most significant to emerge from the stablecoin sector to date, with competitors such as Tether and Paxos still operating privately.

Whether or not Circle can meet its fundraising target, its market debut will likely shape how regulators and investors evaluate crypto-linked companies in public equity markets going forward.

The post Circle files for IPO to raise up to $624 million amid stablecoin growth appeared first on CoinJournal.

• YZi Labs has revealed it has invested in Avalon Labs, sparking a 30% surge.
• Avalon has minted $613M in BTC-backed USDa stablecoins.
• Avalon targets to offer institutional-grade Bitcoin DeFi services.

AVL token price is soaring after YZi Labs (formerly known as Binance Labs) revealed it has made a strategic investment in Avalon Labs, a rising star in the Bitcoin DeFi sector.

The investment announcement ignited a vertical rally in the AVL token, which surged by over 30% to reach a one-month high, pushing prices briefly past the $0.31 mark before stabilising near $0.27 at press time.

Notably, this marks YZi Labs’ first investment in nearly a month, reinforcing the exclusivity and high standards of its portfolio selection, which typically includes only a handful of projects each quarter.

Although the investment sum remains undisclosed, the market reaction reflects growing investor confidence in Avalon Labs’ ambitious roadmap and its pivotal role in Bitcoin-backed decentralised finance.

Avalon Labs’ institutional-grade DeFi protocol vision

Transitioning into its next phase, Avalon Labs aims to establish itself as the leading institutional-grade DeFi protocol by using Bitcoin as collateral for lending, stablecoin issuance, and other financial services.

In fact, the platform has already minted over $613 million in its USDa stablecoin, positioning it as the second-largest issuer of Bitcoin-backed stablecoins behind only Sky Protocol.

As part of its growing ecosystem, Avalon also offers BTC-collateralised loans, a yield-bearing savings account, and even a credit card, all designed to increase Bitcoin’s real-world financial utility.

Backed by 20,000 non-custodial BTC and servicing over 300,000 daily active users, Avalon is carving a space in the emerging Bitcoin DeFi landscape, which now holds a total value locked of $6.69 billion.

Although Avalon’s current TVL has dipped to $1.22 billion from earlier highs, the investment by Yzi Labs remains substantial, particularly considering the end of its airdrop program and the volatile state of the broader market.

Plan to enhance regulatory compliance

Avalon plans to use the new capital to enhance its regulatory standing across jurisdictions, which may open the door to traditional finance partnerships and large-scale institutional lending.

The renewed focus on compliance and institutional access aligns with YZi Labs’ investment thesis, which prioritises projects that combine strong fundamentals with global growth potential.

Moreover, the connection with YZi Labs could signal future inclusion in the Binance ecosystem, especially if AVL demonstrates sustainable growth and increased user adoption.

Despite being an Ethereum-based token, AVL’s rising prominence could earn it further exchange listings and increased liquidity, particularly as Bitcoin DeFi garners wider attention.

Avalon’s success story also includes being named the Season 8 winner of the Most Valuable Builder event, a key incubator program led by BNB Smart Chain, YZi Labs, and CoinMarketCap.

Given the increasing demand for BTC-backed products, Avalon appears well-positioned to benefit from the next wave of institutional and retail adoption in decentralised finance.

As momentum builds, AVL remains one of the most closely watched mid-cap tokens in the space, especially as investors await further token unlocks and platform updates.

Ultimately, the YZi Labs investment has not only boosted AVL’s price but also solidified Avalon’s role as a frontrunner in transforming Bitcoin into a capital-efficient asset class.

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