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David Beckham–backed Prenetics abandons Bitcoin strategy to focus on core health business

  • Prenetics halts new Bitcoin purchases after recent crypto market volatility.
  • The company is prioritising the growth of its IM8 supplements brand.
  • Prenetics currently holds 510 BTC and over $70 million in cash reserves.

Prenetics Global, a consumer health and supplements company backed by football icon David Beckham, has reversed its short-lived plan to build a Bitcoin treasury, opting instead to focus its capital on expanding its flagship nutrition brand, IM8.

In a statement issued on Tuesday, the Nasdaq-listed firm confirmed that it will no longer pursue additional Bitcoin purchases, signalling a shift away from digital assets amid volatile market conditions.

The company’s management stated that the redirection of resources is aimed at accelerating growth in IM8, which the company describes as one of the fastest-scaling supplement brands in the global wellness sector.

Notably, the decision comes less than three months after the company raised $48 million in fresh equity financing that was raised for cryptocurrency accumulation as a strategic objective.

Strategic pivot after crypto market volatility

When Prenetics announced its equity raise in October, Bitcoin was trading near historic highs, hovering above $110,000.

Since then, prices have dropped significantly, reflecting broader instability across digital asset markets driven by tightening financial conditions, regulatory uncertainty, and reduced institutional risk appetite.

As of this week, Bitcoin has fallen to the high-$80,000 range, underscoring the challenges companies face when managing crypto-heavy balance sheets.

Although the fundraising round was intended to support both Bitcoin accumulation and consumer brand expansion, Prenetics’ leadership now views its health and wellness business as a clearer path to long-term value creation.

The Chief Executive Officer and co-founder, Danny Yeung, said the board unanimously agreed that focusing on IM8 represents a rare growth opportunity that outweighs the potential benefits of further crypto exposure.

However, the company plans to hold on to its crypto assets despite halting new purchases.

Prenetics disclosed that it still holds approximately 510 Bitcoin alongside more than $70 million in cash and cash equivalents, providing flexibility while it reassesses capital allocation priorities.

Part of a broader corporate reassessment of crypto treasuries

Prenetics’ move mirrors a growing trend among publicly listed companies that experimented with cryptocurrency treasury strategies during bullish market cycles.

As crypto prices pull back, several firms are scaling back or abandoning aggressive accumulation plans in favour of more predictable uses of capital.

Earlier this month, Ethereum-focused treasury firm ETHZilla, backed by prominent technology investors like Peter Thiel, announced a pivot away from holding ether toward real-world asset tokenisation initiatives.

Other companies across sectors have similarly turned to share buybacks, debt reduction, or reinvestment in core operations as safer ways to support shareholder value during uncertain market conditions.

Investors in Prenetics’ October funding round included major crypto industry names such as Kraken, Exodus, and GPTX, alongside traditional investment firms.

While their participation highlighted confidence in the company’s innovation strategy, Prenetics’ latest announcement reflects a more cautious and pragmatic stance toward digital assets.

The post David Beckham–backed Prenetics abandons Bitcoin strategy to focus on core health business appeared first on CoinJournal.

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2026 XRP outlook: breakout ahead or deeper pullback?

  • XRP trades near $1.86 as ETF inflows clash with weak price momentum.
  • Technical setups hint at a rebound, but $1.77 support remains critical.
  • The 2026 outlook hinges on adoption, usage growth, and valuation debates.

XRP enters 2026 caught between ambitious long-term projections and growing short-term scepticism.

With price performance lagging despite strong institutional signals, the debate around where XRP heads next has intensified, especially after the altcoin slipped below $2.

XRP trades sideways as conviction remains split

XRP is currently trading near $1.86, giving it a market capitalisation of roughly $113 billion and placing it among the largest digital assets globally.

But the size of that valuation contrasts sharply with recent performance.

Over the past three months, XRP has fallen nearly 37%, while remaining about 49% below its recent high reached in mid-2025.

The price has settled into a tight range between $1.83 and $1.91, reflecting a market that appears hesitant rather than convinced.

But despite this price stagnation, institutional interest has not faded.

XRP-linked exchange-traded funds (ETFs) have recorded seven consecutive weeks of net inflows, with total assets approaching $1.24 billion.

Total XRP Spot ETF Net Inflow
Source: Coinglass

These steady inflows suggest that larger investors are accumulating exposure during periods of weakness rather than exiting positions

Such accumulation can quietly absorb selling pressure, helping to stabilise XRP during prolonged consolidations.

Bullish chart patterns collide with valuation concerns

From a technical standpoint, several analysts see early signs of a possible reversal.

Chart patterns such as a triple bottom near the $1.76 level and a developing inverse head-and-shoulders formation point to a market attempting to build a base.

Momentum indicators like the MACD have also begun to turn higher, reinforcing the idea that downside pressure may be weakening.

XRP price chart
Source: TradingView

Still, these bullish signals remain conditional. A failure to hold the $1.77–$1.80 support zone could expose XRP to a much deeper pullback.

Some analysts warn that a decisive break below this area could open the door to a decline toward $0.80, a level that would represent a dramatic reset in market structure.

This risk persists as long as price action remains capped below key moving averages.

Beyond charts, criticism has emerged around XRP’s underlying network activity.

Galaxy Digital CEO Mike Novogratz recently questioned whether XRP’s valuation is justified, given reports of roughly 16,000 daily active addresses.

In his view, such figures pale in comparison to other major networks with significantly higher on-chain engagement.

This argument highlights a broader concern that XRP’s valuation may be driven more by narrative and institutional positioning than by visible usage growth.

But supporters counter that XRP’s role in cross-border payments and its expanding ecosystem are not fully captured by simple address counts.

They also point to regulatory clarity following Ripple’s legal progress as a structural advantage that could support long-term adoption.

What the XRP price forecast says about 2026

The most optimistic outlook comes from Standard Chartered, with the head of digital assets research, Geoffrey Kendrick, predicting that XRP could reach $8 in 2026.

That XRP price forecast implies more than 300% upside from current levels and assumes a powerful combination of sustained ETF inflows, tighter supply dynamics, and broader institutional adoption.

Under such a scenario, XRP’s market capitalisation would exceed $450 billion, placing it among the most valuable financial assets in the digital economy.

However, even proponents acknowledge that this is a best-case scenario rather than a baseline expectation.

Achieving such levels would require not only favourable market conditions but also continued confidence in XRP’s long-term utility.

Without stronger evidence of expanding network usage, critics argue that the path to those valuations becomes far more difficult.

The post 2026 XRP outlook: breakout ahead or deeper pullback? appeared first on CoinJournal.

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TRX price eyes gains amid $18M boost from Justin Sun

  • The price of TRON (TRX) traded above $0.28 amid an $18 million backing from Justin Sun.
  • As top coins looked to bounce, TRX was showing resilience.
  • The altcoin’s move is largely helped by Sun’s investment and broader market sentiment.

Tron Inc. announced that it has secured an $18 million strategic equity investment from Justin Sun, the founder of the TRON blockchain.

Sun’s investment was made through Black Anthem Limited, with shares purchased at $1.3775 per share.

Tron Inc., which also operates in custom merchandise for major entertainment venues through a subsidiary, has been aggressively building a blockchain-integrated treasury strategy.

In this case, the company may be eyeing proceeds from this investment for a fresh expansion.

What does the Sun investment mean for Tron Inc?

Purchases will position the digital asset treasury firm as one of the largest corporate holders of the cryptocurrency and the leading publicly traded entity aligned with the TRON network.

Rich Miller, chief executive officer of Tron Inc., described the investment as a “powerful endorsement” of the company’s strategy and long-term vision.

He emphasised that the capital will strengthen the balance sheet, enhance digital asset holdings, and support growth in areas such as global blockchain-based payments and Web3 infrastructure.

Sun’s continued backing of the TRON ecosystem is consistent with his broader push to support development across the blockchain network.

The latest investment builds on earlier initiatives by Tron Inc., including prior treasury expansions that have already positioned it as a notable participant in corporate adoption of TRX.

Market participants may interpret the move as a signal of confidence in the network’s growth trajectory, particularly as TRON seeks to strengthen its role in decentralized applications and stablecoin transfer activity.

TRON price: bulls hold $0.28

Despite volatility in the broader cryptocurrency market, TRX has maintained strong support around the $0.28 mark.

That’s where bulls hovered as of December 30, 2025, with a slight uptick to above $0.286.

Buyers saw a 24-hour trading volume of over $560 million. This stability reflects TRON’s robust network activity.

Key aspects include record user growth as Tron’s pivotal role in facilitating a substantial portion of global USDT transfers continues.

The blockchain’s high throughput and low-cost transactions continue to attract developers and users, contributing to TRX’s resilience.

Market observers suggest that the latest investment news could provide upward momentum, as it highlights institutional-level alignment with the ecosystem.

Tron price chart by CoinMarketCap

Short-term price action remains influenced by overall crypto sentiment.

However, the fundamental backing from Justin Sun may encourage accumulation among holders anticipating further ecosystem developments.

The post TRX price eyes gains amid $18M boost from Justin Sun appeared first on CoinJournal.

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Ethereum price prediction for January 2026: key levels and institutional moves to watch

  • BitMine’s ETH accumulation and staking tighten supply, boosting price potential.
  • The immediate resistance at $3,000 and the key support near $2,700 guide the short-term forecast.
  • Upgrades like Fusaka and strong fundamentals may drive ETH toward $5,000.

Ethereum has continued to show resilience in the face of broader market fluctuations, as traders and investors position themselves ahead of critical macroeconomic updates.

Over the past 24 hours, the Ethereum price rose 1.66% to $2,975, outperforming the broader crypto market’s modest 0.65% gain.

Most notably, ETH’s recent rebound from $2,920 has highlighted both short-term technical strength and growing interest from institutional players, signalling that January 2026 could set the stage for important developments in the market.

Institutional accumulation shapes the market

Institutional activity remains a central factor for Ethereum price movements, with BitMine emerging as a key driver.

BitMine recently added more than 44,000 ETH to its treasury, bringing its total holdings to roughly 4.11 million ETH, or about 3.41% of the circulating supply.

This large-scale accumulation reduces liquid supply in the market, creating upward pressure on the Ethereum price and reinforcing the long-term bullish thesis for the token.

BitMine has also begun staking a portion of its holdings, approximately 408,000 ETH, as it prepares to launch its Made in America Validator Network (MAVAN) in early 2026.

By locking up ETH in staking, BitMine is not only generating yield but also further tightening supply, which could influence price dynamics if demand remains steady.

This institutional approach mirrors strategies seen in other crypto assets, where consistent accumulation and staking serve as mechanisms to anchor the asset and attract long-term investors.

Ethereum price forecast: technical and macro considerations

From a technical standpoint, the Ethereum price has been testing the $3,000 resistance level, with the MACD recently flipping bullish and the RSI at 44.23, indicating recovering momentum but room for further consolidation.

Analysts note that a breakout above $3,052 could trigger algorithmic buying, while a failure to hold above $2,850 may lead to a retracement toward stronger support levels near $2,700.

Short-term volatility is further influenced by the anticipation of Federal Reserve policy updates, with traders adjusting positions ahead of potential macroeconomic shifts.

The technical setup is further complemented by macro catalysts, including the Fed’s policy minutes, which could affect USD strength and, consequently, the appeal of risk assets like ETH.

Meanwhile, ETF flows into spot Ethereum have been inconsistent, reflecting broader uncertainty in institutional appetite.

A positive response to upcoming network upgrades, including the Fusaka upgrade, may drive renewed capital inflows and provide additional support for the Ethereum price in 2026.

Long-term growth potential

Beyond immediate technical and macro drivers, Ethereum’s long-term growth prospects remain strong.

Other analysts have highlighted the potential for Ethereum to reach $5,000 by 2026, citing the network’s robust ecosystem, proof-of-stake infrastructure, and ongoing upgrades that expand utility and attract institutional participation.

The Fusaka upgrade, which will increase data storage capacity on Ethereum blocks, is expected to open new use cases, including tokenisation of real-world assets, further enhancing the network’s fundamentals.

Historically, Ethereum has demonstrated rapid growth in active wallets, transaction volume, and total value locked, positioning ETH as a leading platform in decentralised finance (DeFi).

These metrics, combined with strategic accumulation and staking by major holders, provide a strong backdrop for future price appreciation.

While short-term technical challenges persist, the overall trajectory suggests that the Ethereum price could benefit from both improved fundamentals and ongoing institutional confidence as 2026 progresses.

The post Ethereum price prediction for January 2026: key levels and institutional moves to watch appeared first on CoinJournal.