Kategorie: Crypto News

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Early PUMP investors dump 25.5 billion tokens, pocketing nearly $40 million in profit

  • Two wallets offloaded PUMP worth $141M the previous week.
  • The sales yielded around $39.65 million in profit.
  • The transactions (made to FalconX and CEXs) have raised concerns over Pump.fun’s token distribution.

As the GENIUS Act fuels the altcoin season narrative, a bold move involving the recently launched PUMP coin has raised eyebrows within the cryptocurrency community.

According to EmberCN’s July 21 X post, two wallets that participated in Pump.fun’s private placement have offloaded 25.5 billion PUMP tokens, worth approximately $141 million.

The transaction saw the investors netting combined $39.65 million profits within a week.

The speed and magnitude of these transfers have stirred widespread debates among crypto enthusiasts, with many questioning Pump.fun’s token distribution structure and the altcoin’s long-term price stability.

Key investors exit PUMP

The first wallet D6ar…Lazd secured 25 billion PUMP coins after joining the institutional round with $100 million USDC.

Notably, this private placement mirrored a public sale as it lacked a lock-up period with the same buying price.

That’s unusual for institutional investors.

While the market rallied over the last week, driven by regulatory changes in the United States, this wallet sent 13 billion tokens, worth approximately $71.46 million, to a trading and liquidity platform FalconX.

Meanwhile, the assets later moved into multiple central exchanges (CEXs).

The investor dumped at around $0.0055 average price, accumulating $19.5 million returns in less than a week.

The second wallet walked away with around $20.15 million with a similar approach.

It received 12.5 billion tokens after committing $50 million USDC to the private sale.

Meanwhile, the whale moved all the tokens to CEXs, locking in returns at $0.0056 average price per PUMP coin.

Maximum liquidity without lock-up

The most noticeable thing is that these private round participants didn’t have lock-up terms.

Generally, institutional crypto purchases include vesting periods to ensure stability and discourage sudden dumps.

In Pump.fun’s saga, large-scale investors were free to offload immediately, giving them an edge over retail players who joined later.

Further, the community criticized for creating an irregular playing ground with equal pricing between private and public offerings.

PUMP momentum threatened

The altcoin has remained on investor radar since its July 12 public sale, which sold off within twelve minutes.

While it demonstrates strength despite early backlash, the substantial dump from early participants darkens PUMP’s short-term outlook.

The substantial sell-offs will likely impact liquidity, investor confidence, and price actions in the upcoming sessions.

The derivatives markets data signal a weakening strength according to Coinglass.

PUMP’s trading volume has plunged 10% to $1.11 billion, whereas a 7% dip in Open Interest indicates fading trader optimism.

Moreover, the Pump.fun team hasn’t commented on the significant transactions or the project’s private placement structure.

The lack of transparency could dent PUMP’s sentiments further.

Enthusiasts will watch how the altcoin reacts to the latest on-chain developments.

Nonetheless, broad market sentiments remain vital in shaping the altcoin’s trajectory.

Bulls dominate the digital assets, and with Bitcoin’s declining dominance hinting at an impending altcoins season, massive rallies could absorb PUMP’s anticipated selling pressure.

The post Early PUMP investors dump 25.5 billion tokens, pocketing nearly $40 million in profit appeared first on CoinJournal.

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Ethereum price forecast as ETH dominance jumps to 11.5%

  • Ethereum price is near $3,800 amid fresh upside momentum.
  • Arthur Hayes targets $5k as QCP analysts point to ETH dominance jumping to 11.5%.
  • The broader altcoin market is largely bullish as Bitcoin consolidates after hitting a new all-time high.

Ethereum (ETH) has emerged as one of the altcoins to gain massive attention after surging from below $2,500 to $3,800 and now targeting the $4k level.

Amid price forecasts that see ETH bulls target further gains, Arthur Hayes, former BitMEX CEO, has wondered whether buyers can push to $5k this week.

Analysts at QCP are also bullish on Ethereum as the altcoin’s dominance jumps to above 11% as Bitcoin’s market share drops to 60%.

Ethereum price rises as bulls target more gains

As of writing, Ethereum price hovers around $3,773, slightly off intraday highs of $3,819 reached earlier in the day.

The price level puts Ethereum on track to break above $4,000 amid its latest strong uptrend. According to market data, ETH’s current price is up just 2% in the last 24 hours.

However, the top altcoin’s price is up 24% in the past week and more than 58% in the past month.

Lookonchain has shared data showing ETH whales have aggressively accumulated in the past week, with over $2.7 billion in Ethereum scooped.

Arthur Hayes noted:

ETH price prediction

The Ethereum price is in bullish momentum and has strengthened recovery for most coins, with the Ethereum price gaining amid a surge in its market dominance.

QCP analysts have identified this outlook for ETH and shared their optimistic predictions for the altcoin via X.

Notably, Ethereum is recording a surge in market share dominance as Bitcoin’s dominance slips from highs of 64% to 60%. Ethereum has climbed from 9.7% to 11.6%.

“Is altcoin season finally here? Altcoin season indexes have surged past 50 across major sources, the highest since December. $ETH perpetual open interest has spiked from under $18B to over $28B in a week, and this time it looks like institutions are leading the charge, not retail,” QCP posted.

Per their insights, the GENIUS Act and its signing into law on July 18, 2025, could be a “major catalyst.”

On the bill, the analysts noted:

“It introduces a clear regulatory framework for stablecoin issuance, spurring renewed interest in $ETH and other L1s that host stablecoins.”

In this case, many corporate treasuries are looking to tap into the opportunity with purchases of Ethereum, Solana, XRP, and Cardano. Profits from Bitcoin are going into Ethereum and other altcoins.

The rotation could accelerate Ethereum’s gains, particularly if the US Securities and Exchange Commission approves staked ETH exchange-traded funds.

According to QCP, the market has seen spot ETH ETF inflows outpace Bitcoin’s for two consecutive days. 

The combination of institutional inflows, regulatory clarity, and technical strength positions ETH for a significant breakout.

The post Ethereum price forecast as ETH dominance jumps to 11.5% appeared first on CoinJournal.

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JASMY pumps 15% to outperform the market, targets $0.034

Key takeaways

  • JASMY is one of the top performers in the market, up 16% in the last 24 hours. 
  • The coin could rally towards $0.034 soon amid bullish momentum.

JASMY outperforms the market

Memecoins have been performing excellently over the past few days, with DOGE, SHIB, FLOKI, PEPE, and PENGU all rallying to new monthly highs. JASMY is not left out as the memecoin is up 16% over the last 24 hours.

At press time, JASMY is trading at $0.02008 and could rally higher in the near to medium term. Data obtained from CoinMarketCap revealed that roughly 53% of JASMY’s total circulating supply moved into whale wallets since the start of the month. In addition to that, exchange reserves dropped to their lowest point since 2024. 

This combination of lower supply on exchanges and increased holdings by whales is creating a price squeeze. With fewer tokens available to buy, JASMY’s price is appreciating. 

JASMY eyes the $0.034 resistance level

The JASMY/USD 4-hour chart is bullish but inefficient. The inefficiency could see JASMY grab liquidity around $0.01854 before preparing for another leg up. The technical indicators are extremely bullish thanks to its ongoing rally.

The Relative Strength Index of 70 shows that JASMY is heading into the overbought region. The Moving Average Convergence Divergence (MACD) lines are also within the positive zone, indicating a strong bullish bias.

The memecoin has also formed a double bottom pattern, which is generally viewed as a bullish reversal signal. The double bottom pattern’s neckline lies within the $0.0226–$0.024 range, with analysts looking at these key levels as confirmation of a breakout.

JASMY/USD 4H Chart

JASMY could be looking to hit the first major resistance level at $0.022387, which is also its 4.618 Fibonacci level. An extended rally would allow JASMY to hit the $0.025 resistance level over the next few hours. The February high of $0.03440 remains a medium-term target for the JASMY token. 

On the flipside, JASMY could dip lower if the market encounters a correction. JASMY could retest the weekend’s low of $0.01640. However, an extended bearish performance would force the bulls to defend the TLQ and major support level at $0.01525.

The post JASMY pumps 15% to outperform the market, targets $0.034 appeared first on CoinJournal.

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Kaspa price climbs 10% on Layer 2 rollout, forms double-bottom pattern

  • KAS price is up 10% in 24 hours as Kaspa mirrors other altcoins’ gains.
  • The cryptocurrency is also surging after seeing a double-bottom bounce with support near $0.05.
  • Bulls could breach resistance around $0.12 and target the $0.18-$0.20 supply zone.

The Kaspa price has surged by 10% in the past 24 hours, reaching an intraday high of $0.105.

Notably, this has added to weekly gains of over 18% as Kaspa rides the bullish momentum, with top cryptocurrencies Ethereum, XRP, and Solana seeing notable gains.

BNB price has jumped to near its all-time high and could eye $1,000.

As these top altcoins eye key technical levels, Kaspa’s upward momentum is drawing significant attention. Both market dynamics and upcoming network developments suggest bulls may not be done yet.

Why is Kaspa price up today?

Kaspa’s price increase aligns with a robust altcoin market.

ETH, XRP, SOL, and BNB are all climbing toward critical resistance zones or all-time highs, adding to buying pressure for small-cap cryptocurrencies.

However, Kaspa’s rally is not solely tied to market-wide optimism.

A key driver is the growing anticipation surrounding the Kasplex mainnet, a significant step forward for the Kaspa Network, which is renowned for its high-speed, proof-of-work blockDAG architecture.

The Kasplex Layer 2 public testnet, dubbed Kasplex zkEVM, has officially launched, marking a pivotal milestone in Kaspa’s roadmap.

This fully Ethereum Virtual Machine (EVM)-compatible rollup leverages Kaspa’s Layer 1 (L1) for decentralized sequencing and data availability.

Kasplex zkEVM introduces several groundbreaking features. A full EVM equivalence allows developers to deploy Ethereum-native smart contracts with minimal adjustments.

With bridged KAS as the native testnet token, the protocol also allows for integration with standard EVM wallets like MetaMask.

Additionally, the testnet includes a live faucet, explorer, and expanding developer tooling, fostering an environment for building decentralized applications (dApps) and smart contracts on Kaspa.

This development positions Kaspa as a unique proof-of-work blockchain with Layer 2 smart contract functionality.

Its growth potential has sparked increased interest in the KAS token, contributing to its price surge.

KAS price: technical outlook

From a technical perspective, Kaspa’s price action is showing bullish signals. The KAS token has formed a double-bottom pattern, a classic reversal signal.

It indicates strong support in the $0.05-$0.06 range.

 

Kaspa price chart by TradingView 

This bounce has propelled the price toward a key resistance level near $0.12.

According to the price outlook on the weekly chart, a decisive breakout above this level could open the door for buyers to target the $0.18-$0.20.

The area might prove a crucial supply zone, with the level aligning with previous highs from July and December 2024.

The post Kaspa price climbs 10% on Layer 2 rollout, forms double-bottom pattern appeared first on CoinJournal.

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Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption

  • Ripple’s RLUSD could benefit from the new rules and expand its use in US financial systems.
  • Only 14 million XRP tokens have been burned to date versus 59.1 billion in circulation.
  • The pending CLARITY Act could further clarify XRP’s legal status in the US market.

Ripple’s strategic position in the evolving US stablecoin landscape received a boost last Friday after President Donald Trump signed the “Guiding and Enabling the Nationwide Innovation of US Stablecoins” (GENIUS) Act into law.

The legislation establishes a formal regulatory path for stablecoin issuers and paves the way for institutions to adopt digital dollars under federal oversight.

For Ripple, this offers new ground to promote its RLUSD stablecoin—but has limited bearing on its native XRP token.

GENIUS Act offers regulatory clarity for Ripple’s RLUSD

The GENIUS Act provides a legal framework for dollar-backed stablecoins, enabling issuers to operate under federal charters and meet specific reserve and audit standards.

The move benefits stablecoins such as USDC, PayPal USD, and RLUSD, all of which aim to be integrated into institutional finance and payment systems.

Ripple’s RLUSD, though not yet as widely adopted as rivals like Circle’s USDC or Tether’s USDT, could leverage the act’s legal clarity to position itself as a compliant, regulated stablecoin within the United States.

Unlike decentralised or offshore stablecoins, RLUSD could function as a native liquidity provider for on-shore financial transactions, potentially giving Ripple a role akin to a financial infrastructure provider in the regulated US market.

While RLUSD stands to gain traction from the GENIUS Act, this advancement is unlikely to bring meaningful price movement to XRP. The two are functionally separate, with XRP continuing to serve as a bridge token on the XRP Ledger.

XRP supply dynamics unaffected by RLUSD transactions

Although RLUSD will operate on the XRP Ledger and every transaction will burn a small amount of XRP to pay network fees, the volume is too low to materially affect the coin’s price or supply.

Since inception, only 14 million XRP tokens have been burned, while the circulating supply remains over 59.1 billion. This shows that even under heavy usage, token burns through stablecoin transactions will not significantly influence XRP’s deflation rate or valuation.

Ripple’s Chief Technology Officer, David Schwartz, has previously downplayed the impact of such burns, noting that they will not materially reduce supply in the foreseeable future.

This reinforces the view that RLUSD-related network activity will not shift XRP’s price dynamics in a meaningful way.

Ongoing SEC lawsuit adds uncertainty to XRP classification

The broader regulatory environment for XRP remains unresolved, as Ripple’s legal battle with the US Securities and Exchange Commission (SEC) continues.

A previous ruling determined that XRP is not a security when sold on public exchanges but may be classified as one in institutional placements. This duality in classification introduces lingering uncertainty about XRP’s long-term regulatory status.

The current ambiguity impacts Ripple’s ability to rely solely on XRP within the US. In this context, the GENIUS Act gives Ripple a compliant alternative in RLUSD, reducing regulatory exposure in XRP-heavy transactions.

This shift enables the company to broaden its reach in regulated financial environments while maintaining its core blockchain infrastructure.

CLARITY Act could redefine XRP’s regulatory standing

Looking ahead, further legislative developments could reshape Ripple’s token strategy. The pending CLARITY Act proposes a formal path for digital assets to transition from securities to commodities over time.

If passed, it could eliminate the regulatory ambiguity surrounding XRP’s classification and facilitate broader tokenisation strategies involving Ripple’s ecosystem.

In the meantime, RLUSD provides a way for Ripple to participate in the stablecoin market without depending on XRP in uncertain regulatory conditions.

This dual-token strategy offers flexibility, allowing Ripple to align with evolving US regulations while continuing to promote its ledger technology.

The post Trump signs GENIUS Act into law, positioning Ripple’s RLUSD for institutional adoption appeared first on CoinJournal.