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Metaplanet adds 775 Bitcoin to treasury amid market pullback

  • Simon Gerovich said the company acquired the bitcoins at an average cost of $120,006 each.
  • Metaplanet began implementing its Bitcoin accumulation strategy in April 2024.
  • With the latest purchase, Metaplanet’s total bitcoin holdings have risen to 18,888 BTC, valued at about $1.94 billion.

Metaplanet, a Japanese Bitcoin treasury company, has purchased an additional 775 BTC for roughly $93 million as part of its ongoing accumulation strategy.

The firm disclosed the latest acquisition on Monday through a post by its president, Simon Gerovich, on X.

Gerovich said the company acquired the bitcoins at an average cost of $120,006 each.

With the latest purchase, Metaplanet’s total bitcoin holdings have risen to 18,888 BTC, valued at about $1.94 billion.

The firm’s average purchase price now stands at $102,653 per bitcoin.

Metaplanet began implementing its Bitcoin accumulation strategy in April 2024.

The firm is currently the seventh-largest holder of Bitcoin globally, according to Bitcointreasuries data.

In his post announcing the milestone, Gerovich noted the company’s growing treasury position and reaffirmed its commitment to the strategy.

Metaplanet’s Q2 results

The company also released its second-quarter financial results last week.

Total revenue reached 1.2 billion yen ($8.4 million), representing a 41% increase from the previous quarter.

Net income swung to a profit of 11.1 billion yen ($75.1 million), compared to a net loss of 5 billion yen ($34.2 million) in the first quarter.

Metaplanet said it continues to project full-year revenue of 3.4 billion yen and operating profit of 2.5 billion yen.

The company attributed this outlook to recurring income from cash-secured put premiums and its operational performance.

Metaplanet stock under pressure

Despite the upbeat earnings and treasury expansion, Metaplanet’s stock price fell 8.6% on Friday to close at 866 yen.

On Monday, shares recovered slightly, rising 0.6% around midday in Japan, while markets were still open.

Addressing the recent weakness, Gerovich acknowledged the disappointment among investors but stressed confidence in the company’s long-term approach.

He said the firm’s bitcoin income generation business has expanded for three consecutive quarters, adding that recurring income provides resilience and flexibility to support future financing and treasury operations.

Bitcoin price today

The latest acquisition comes as bitcoin’s price faces volatility.

The world’s largest cryptocurrency touched a new all-time high of $124,474 last Thursday before retreating 4% the same day.

Over the weekend, it traded around the $117,300 level and was slightly lower at the start of the week, nearing key support at $116,000.

If Bitcoin closes below that level, analysts note that the decline could extend toward its 50-day Exponential Moving Average of $115,031.

A further break below could test the next support zone near $111,980.

The post Metaplanet adds 775 Bitcoin to treasury amid market pullback appeared first on CoinJournal.

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PUMP price dips 15% as Pump.fun offloads 2.5B tokens

  • The Launchpad has transferred PUMP worth around $9.19M to OKX.
  • The transaction sparked concerns about market confidence and bearish pressure.
  • PUMP price plunged on the daily timeframe.

Digital currencies traded in the red on Monday as Bitcoin and Ethereum dropped 2% and 3.20% after an early morning sell-off.

Meanwhile, PUMP grabbed attention as its significant decline coincided with a massive token transfer by meme crypto generator Pump.fun.

According to Lookonchain, the platform sent 2.5 billion tokens, worth approximately $9.19 million, to the OKX exchange, hours before the brutal slump.

The sizable transaction attracted analysts and traders, with many debating whether the move indicates an imminent sell-off.

Massive token deposits to an exchange often signal bearish pressure as the move increases the chances of dumping the assets into the market.

PUMP’s price has dipped from an intraday high of $0.003736 to $0.003172, a swift 15% decline.

The alt has erased its weekly gains as participants possibly exit to avoid further losses, as testified by the surge in daily trading volumes.

Why does the transfer matter?

PUMP’s price decline is more than a usual plunge in the volatile crypto market.

Pump.fun’s transaction accounts for one of the largest single PUMP transfers to an exchange.

Such a size generally sparks questions about the motive.

Is the platform preparing a substantial liquidation, a treasury plan, or a distribution?

Massive deposits to trading platforms trigger uncertainty among traders and holders.

Such sentiments precede panic selling.

The sharp price dip indicates the sensitivity of meme’s valuation to abrupt supply shocks.

Rather than boosting community trust after confirming no airdrop soon, the team is offloading the native token.

Nevertheless, the transfer could indicate a strategic move by Pump.fun, and not an immediate dump.

For instance, the 2.5 billion tokens could bolster liquidity within OKX for enhanced trading access and adoption.

PUMP sentiments take a hit

Meme coins thrive on community trust and hype. PUMP has performed well in the past few sessions as whales joined.

However, their confidence faces a test.

PUMP’s sudden 15% drop has catalyzed heated conversations on social forums.

Some find it ironic that Pump.fun completed buybacks only to offload within weeks, while others equate the meme Launchpad to the fallen FTX exchange.

On-chain data confirm the fading optimism.

For example, Coinglass data shows the alt’s Open Interest has declined by 6.41% to $443.79 million.

That means more traders are exiting positions than executing new ones.

PUMP price outlook

The coin trades at $0.003204 after brief recoveries from the daily low.

The 102% uptick in 24-hour trading volume suggests robust trader activity, possibly from individuals eager to prevent more losses.

Short-term technical indicators highlight the emerging bearish momentum.

The 3H MACD is plunging below the signal line, while the RSI depicts weakening strength after dipping from 56 to 38 over the past two days.

PUMP trades below the 50- and 100-Exponential Moving Averages on the 3H timeframe.

That shows bears control the alt’s current structure.

Moreover, the CMF has dipped into the negative region, confirming money flowing out of PUMP’s ecosystem.

The post PUMP price dips 15% as Pump.fun offloads 2.5B tokens appeared first on CoinJournal.

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Crypto leverage surges 27% to $53.1 billion, hitting highest level since early 2022

  • Crypto leverage surges 27% to $53.1 billion, its highest since early 2022.
  • A recent Bitcoin dip triggered a massive $1 billion liquidation of long bets.
  • Stress points are emerging in DeFi lending and key dollar markets.

A ghost from bull markets past is haunting the cryptocurrency landscape: massive, unrestrained leverage.

A speculative fever is once again gripping traders, pushing borrowing to levels not seen since the last cycle’s peak.

But as a brutal billion-dollar liquidation event last Thursday proved, this double-edged sword can carve out devastating losses just as quickly as it creates gains.

The scale of this renewed appetite for risk is staggering. According to Galaxy Research’s Q2 State of Crypto Leverage report, the market for crypto-collateralized loans swelled by an incredible 27% last quarter, reaching a total of $53.1 billion.

Powered by record demand in DeFi and a return to risk-on sentiment, this represents the highest level of leverage in the system since the precarious heights of early 2022. This mountain of debt created the perfect backdrop for the violent shakeout that was to come.

The inevitable spark: a billion-dollar wipeout

When Bitcoin retreated from its high of $124,000 to as low as 118,000 last week, the over leveraged system snapped.

The price drop triggered a cascade of liquidations across crypto derivatives, wiping out more than 1 billion in long positions—the largest such event since early August.

While many analysts were quick to frame the purge as healthy profit-taking, it served as a stark and painful reminder of just how fragile the market becomes when speculative bets build this rapidly.

Cracks in the foundation

According to Galaxy’s analysts, this fragility is not just theoretical; the stress points are already visible and spreading. In July, a wave of withdrawals on the lending platform Aave caused ETH borrowing rates to spike above Ethereum’s staking yields.

This seemingly small shift broke the economics of the wildly popular “looping” trade, where investors use staked ETH as collateral to borrow more ETH to stake again.

The sudden unwinding of these positions triggered a frantic rush for the exits, overwhelming the network and sending the Ethereum Beacon Chain’s exit queue to a record-breaking 13 days.

The trouble doesn’t end there. Galaxy has also flagged a growing and worrying disconnect in the dollar markets. Since July, the borrowing costs for USDC in the over-the-counter (OTC) market have been climbing, even as rates on DeFi platforms remain flat.

This has widened the spread between the two to its highest point since late 2024, suggesting off-chain demand for dollars is critically outpacing on-chain liquidity. It is a dangerous mismatch that could dramatically amplify volatility if market conditions tighten.

Beneath the deceptive calm of a market waiting for Fed Chair Jerome Powell’s next move, a different story is unfolding.

While institutional demand and ETF inflows paint a bullish picture, the system’s plumbing is showing more and more points of stress.

Last Thursday’s billion-dollar flush was not an anomaly; it was a warning that the return of leverage is a fire that can warm the market or burn it to the ground.

The post Crypto leverage surges 27% to $53.1 billion, hitting highest level since early 2022 appeared first on CoinJournal.

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HYPE rallies 10% as Hyperliquid smashes records with $29B volume and $7.7M fees

  • The DEX’s 24-hour trading volume tops $29B, the highest ever.
  • The $7.7 million in daily fees indicates significant user engagement and improved liquidity.
  • HYPE’s price has soared over 10% in the past day amid optimism.

Cryptocurrencies sought stability on Friday after yesterday’s hotter-than-anticipated PPI triggered a flash crash that dented most bullish setups.

Meanwhile, HYPE is leading the bounce back after soaring more than 10% in the previous 24 hours, fueled by Hyperliquid’s record-breaking trading statistics.

The decentralized exchange processed a whopping $29 billion in trading volumes and collected $7.7 million in fees within a day, hitting all-time highs in both milestones.

These figures confirm heightened activity levels and a lively user base.

For HYPE investors, such sentiments validate the DEX’s momentum and its market appeal.

The altcoin reacted to the milestone with a notable rebound.

Hyperliquid’s record-breaking figures

Trading volume is among the strongest indicators as it highlights the protocol’s health.

Hyperliquid’s $29 billion breakthrough confirms a lively market.

Intensified volumes generally highlight more traders and heightened liquidity, which increases the opportunities for fast execution and competitive pricing.

The $7.7 million in daily fees reinforces this tale.

While high charges can dent trader profitability, they also represent magnified transaction throughput and user participation.

Moreover, they fuel the native token’s economy, and most platforms tie fees into buybacks, rewards, and other user incentive mechanisms.

What’s driving the surge

The timing of Hyperliquid’s boom isn’t an accident.

The DEX has rolled out multiple upgrades to enhance performance, asset listings, and accommodate diverse traders lately.

The trading volumes and fee spikes coincide with a vital institutional development.

Two days ago, Anchorage Digital Bank added custody for Hyperliquid’s HYPE to ensure institutional-level security in HyperEVM.

The custody service allows HYPE holders to (securely) store their assets on HyperEVM.

Also, the current broad market sentiments added to Hyperliquid’s momentum.

The digital assets space remains hot as enthusiasts brace for a possible altseason.

Individuals looking to capitalize on the anticipated rallies drive the DEX’s activity.

HYPE price outlook

The native coin soared 10.78% from an intraday low of $44.62 to $49.62.

HYPE trades at $48.26 after a 15% weekly gain.

Hyperliquid’s trading volume and fee milestone triggered the latest gains.

However, faded trading volumes signal short-lived rallies for HYPE.

Bulls should flip the broader market trajectory to the upside to support the token’s momentum.

Meanwhile, a close above $49.75 might support continued uptrends past the nearest resistance at $52 to $55 all-time highs.

On the other hand, losing the support barrier at $45 could catalyze dips to the demand zone at $42.

Buyers can use this zone as a Launchpad for significant rebounds.

Nonetheless, broad market performance remains crucial in determining HYPE’s trajectory in the near term.

The post HYPE rallies 10% as Hyperliquid smashes records with $29B volume and $7.7M fees appeared first on CoinJournal.

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Norway’s $1.6 trillion wealth fund boosts indirect Bitcoin exposure by 192% in Q2 2025

  • NBIM now holds the equivalent of 7,161 BTC through listed equities.
  • Institutional interest in Bitcoin grows through ETFs and corporate holdings.
  • The move may signal early stages of sovereign-backed Bitcoin adoption.

Norway’s sovereign wealth fund, the largest in the world, has taken a significant step into the cryptocurrency market, increasing its Bitcoin (BTC) exposure by 192% during the second quarter of 2025.

Norges Bank Investment Management (NBIM), which manages the country’s $1.6 trillion oil-funded portfolio, expanded its holdings from the equivalent of 2,446 BTC from the June quarter in 2024 to 7,161 BTC.

The move underscores a broader shift among institutional investors who are using publicly listed equities and ETFs to gain exposure to the cryptocurrency market without holding digital assets directly.

Bitcoin exposure rises through equities and ETFs

NBIM’s largest Bitcoin exposure comes via its stake in MicroStrategy (MSTR), the biggest corporate holder of the cryptocurrency. The fund also initiated a smaller position equivalent to 200 BTC in Japan-based Metaplanet.

These holdings are reflected in the fund’s Q2 2025 13F filings, which track institutional investments in US-listed companies.

The data, compiled by analysts, highlights NBIM’s increased allocation to Bitcoin-linked equities during a period of growing global interest in the asset class.

Sovereign wealth funds are typically known for their conservative, long-term investment strategies, making this level of exposure notable.

Institutional participation strengthens

The move by NBIM comes amid rising institutional adoption of Bitcoin, driven in part by strong inflows into Bitcoin ETFs and increased corporate interest.

These products have made it easier for large investors to gain exposure without managing the complexities of digital asset custody.

Industry analysts note that sovereign wealth funds and large pension managers are beginning to explore Bitcoin as part of diversified long-term portfolios.

While NBIM has not publicly commented on its decision, the timing aligns with Bitcoin’s steady price gains over the past quarter, supported by favourable macroeconomic conditions and increased demand.

Strategic hedge potential

For NBIM, the Bitcoin allocation remains a small portion of its total assets, but it may serve as a hedge against currency debasement and geopolitical risks.

Such positioning reflects a growing recognition among large investors that Bitcoin could play a role in risk-adjusted portfolio diversification.

The increase also follows a global trend where state-backed investment vehicles cautiously test exposure to emerging asset classes, particularly those viewed as potential stores of value.

If this allocation pattern continues, the participation of sovereign funds could have a meaningful impact on Bitcoin’s market liquidity and institutional legitimacy.

Broader implications for sovereign-backed Bitcoin adoption

The developments at NBIM may signal the early stages of more widespread sovereign-backed Bitcoin adoption.

Although the current exposure is small relative to the size of the fund, the scale of sovereign wealth fund capital means even incremental moves can influence market dynamics.

As other funds monitor NBIM’s strategy, institutional activity in Bitcoin-linked assets could increase further.

For the cryptocurrency market, these flows represent a structural change in the investor base, moving beyond retail speculation to long-term, strategic capital from the world’s largest pools of wealth.

The post Norway’s $1.6 trillion wealth fund boosts indirect Bitcoin exposure by 192% in Q2 2025 appeared first on CoinJournal.