Schlagwort: crypto business

• Solana dropped 4% in 24 hours as most cryptocurrencies shed recent gains.
• Bitcoin also dropped amid news that rogue agents had leaked personal data of Coinbase users.
• While the token is down 42% from its January highs, it has recently climbed from lows of $123.

Solana dropped 4% over the past 24 hours on Thursday, giving back part of its recent rally.

The token fell from a high of $178 to around $167 as broader cryptocurrency markets tracked Wall Street’s pullback.

The decline coincided with the Dow Jones Industrial Average trading lower and the S&P 500 looking set to snap a three-day winning streak.

Why is the Solana price down?

Solana extended its decline as Bitcoin also retreated, with the broader crypto market under pressure following reports of a security breach at Coinbase.

According to CEO Brian Armstrong, hackers exploited the exchange’s systems and are demanding $20 million in Bitcoin to avoid releasing the compromised data.

The incident involved cyber criminals who reportedly bribed and recruited rogue overseas support agents.

Coinbase says the insiders pulled personal data that it estimates could impact less than 1% of the exchange’s monthly tracked users.

While the theft is a threat, Coinbase maintained there was no exposure of passwords, private keys, or funds for other users.

While it plans to reimburse impacted customers, it’s not paying the ransom and is ready to engage law enforcement.

“We will pursue the harshest penalties possible and will not pay the $20 million ransom demand we received. Instead, we are establishing a $20 million reward fund for information leading to the arrest and conviction of the criminals responsible for this attack,” Coinbase wrote in an update.

Can SOL bounce to $300?

SOL reached highs of $294 in January 2025, riding the overall crypto momentum that followed President Donald Trump’s election.

While the token is down 42% since it recently climbed from lows of $123. Bulls managed highs of $182 on May 14, before today’s dip.

Whether buyers can reclaim this move remains to be seen. However, analysts at Glassnode note key metrics are in favour of bulls.

“After a few months of realized cap outflows, $SOL is showing signs of a trend reversal. Its 30-day capital inflows are now back in positive territory, growing at ~4–5%, on par with $XRP. This points to a renewed demand returning to the #Solana ecosystem,” Glassnode noted.

After a few months of realized cap outflows, $SOL is showing signs of a trend reversal. Its 30-day capital inflows are now back in positive territory – growing at ~4–5%, on par with $XRP. This points to a renewed demand returning to the #Solana ecosystem. pic.twitter.com/3FZcykWSzh

— glassnode (@glassnode) May 15, 2025

The downturn in Solana and other altcoins comes amid a stall in Bitcoin’s dominance, which peaked at 64.4% on May 8.

Data from Glassnode shows Ethereum’s dominance has edged up 3% to 9.75%, while altcoins collectively gained 2% to 22.35%.

Despite this rebound, altcoin dominance remains below recent highs, underscoring that the market is still largely in a “BTC-driven cycle,” as analysts describe it.

In this environment, Solana and other high-beta assets could continue to lag in the near term as capital remains concentrated in Bitcoin.

The post SOL price prediction: is $300 next as capital inflows flip positive appeared first on CoinJournal.

• Strategy holds over 568,840 BTC, worth more than $58B.
• Chanos warns that speculation has inflated Strategy’s share price.
• Other firms may follow Strategy’s Bitcoin-buying model.

Legendary short-seller Jim Chanos, known for exposing the Enron scandal in the early 2000s, has once again stirred the investment world—this time with a bold stance on the cryptocurrency market.

Speaking at the 2025 Sohn Investment Conference, Chanos revealed he is shorting Strategy while taking a long position on Bitcoin.

The move signals concern over growing speculation in crypto-linked stocks, particularly where company valuations have become disconnected from the underlying assets they hold.

Chanos targets valuation gap between Strategy and BTC

Chanos, founder of Kynikos Associates and one of Wall Street’s most respected sceptics, explained his strategy by comparing Strategy’s stock price with its Bitcoin reserves.

According to him, while Bitcoin remains undervalued based on its long-term fundamentals, Strategy’s stock has rallied far beyond the fair market value of its holdings.

Strategy currently owns more than 568,840 BTC, with an estimated market value of over $58 billion. This represents nearly 2.7% of Bitcoin’s entire supply.

The company, under CEO Michael Saylor, added 122,000 BTC in 2025 alone and has positioned itself as a leader among public firms embracing digital assets.

However, Chanos warned that this aggressive accumulation strategy has created a valuation mismatch.

Market speculation drives Strategy stock

Chanos argues that Strategy is not a pure Bitcoin proxy, despite its large crypto reserves.

Instead, it is a company that has leaned heavily into Bitcoin without generating comparable business growth from its core operations.

He cautioned that retail investors often misunderstand this distinction, bidding up the company’s stock as if it were a direct substitute for owning Bitcoin.

This, according to Chanos, creates a bubble-like situation where Strategy shares become speculative vehicles rather than reflections of operational performance.

He emphasised that while Bitcoin remains a promising asset in the long run, investing in a company whose share price is inflated by hype rather than fundamentals could lead to steep losses when market sentiment shifts.

Bitcoin accumulation trend could backfire

The concern extends beyond Strategy. Chanos warned that other companies might begin mimicking its strategy, accumulating large amounts of Bitcoin in a bid to capture investor attention.

Some firms may view Bitcoin hoarding as a shortcut to higher valuations, especially if they lack strong revenue streams elsewhere.

This could set a dangerous precedent. According to Chanos, once the novelty wears off or Bitcoin’s price stalls, these companies could face pressure from shareholders, reduced liquidity, or even write-downs if their BTC holdings lose value.

He urged investors to differentiate between holding the asset itself and investing in a stock that simply owns the asset, especially when the latter commands a premium.

Implications for crypto investors and public companies

The move by Chanos underscores the broader risk in the crypto-equity space.

While Bitcoin has become a core asset for many retail and institutional investors, its influence on public company valuations is still subject to volatility, sentiment, and hype cycles.

For investors, this is a cautionary tale: just because a company owns a valuable asset doesn’t mean its stock price accurately reflects that value.

Chanos’ strategy—long Bitcoin, short Strategy—may represent a shift toward more disciplined crypto investing, where underlying fundamentals matter more than momentum.

As Bitcoin adoption continues to grow, scrutiny of how public companies deploy the asset will likely intensify.

With figures like Chanos entering the debate, the market may soon draw sharper lines between speculative plays and genuine long-term bets on digital assets.

The post Jim Chanos shorting Strategy while backing Bitcoin raises red flags on crypto stocks appeared first on CoinJournal.

• Token had surged 575% from March lows before the latest dip.
• Open interest falls 11.17% to $606.46 million.
• Resistance at $1.46 remains the key breakout level.

Fartcoin (FARTCOIN), the meme-meets-AI token built on Solana, is facing renewed pressure after a steep multi-week rally that propelled it more than 575% from March lows.

The token, which had recently touched $1.44 — its highest level since mid-January — has now dropped 10.62% in the past 24 hours and is trading at $1.23.

The decline comes as traders react to slowing momentum and weakening on-chain metrics, including a notable dip in open interest.

While Fartcoin had initially caught attention with its meme branding and AI narrative, its recent price action highlights growing volatility in the meme coin space.

With technical indicators losing strength and speculative interest beginning to fade, the coming days may prove critical in determining whether the token can resume its upward trajectory or slide further back toward historical support zones.

From recovery to retracement

Fartcoin’s rally began in late March, gaining traction after bottoming out near $0.20.

The token surged to $1.44 earlier this month — its highest since January — before reversing to the current level of $1.23.

Despite the drop, Fartcoin remains significantly above its Q1 lows, with the recent decline largely attributed to profit-taking and reduced speculative activity.

Technical signals have also started to soften. The relative strength index (RSI), which peaked above 60 during last week’s move, has now eased to 55.05, reflecting waning bullish momentum.

While this still sits within neutral territory, it shows that the upward drive is losing steam.

The price structure continues to mirror earlier cycles, particularly the December–January phase that preceded Fartcoin’s last parabolic run to its all-time high of $2.74.

However, unlike that phase, the current move lacks consistent volume follow-through, which had been a defining factor of previous rallies.

Open interest sees double-digit drop

On-chain metrics are also flashing caution. According to CoinGlass data, Fartcoin’s open interest has dropped by 11.17% in the past 24 hours, falling to $606.46 million.

This marks a significant shift from the recent all-time high of $712 million and indicates a decline in leveraged trading activity.

Open interest represents the total value of outstanding futures contracts and is often viewed as a gauge of market conviction.

The sharp pullback suggests that some traders are unwinding their positions, possibly in response to the token’s inability to hold above the $1.40 level.

Still, the longer-term chart structure remains constructive as long as support at $1.20 holds.

A failure to maintain this level, however, could expose Fartcoin to further downside, with $1.00 and $0.88 acting as likely demand zones.

Traders eye support and resistance levels

For now, the key level to watch remains $1.46. A decisive breakout above this resistance would reignite bullish interest and potentially set up a retest of $1.76 and $2.00.

Until then, the recent drop in both price and open interest suggests a period of consolidation or potential retracement.

Fartcoin’s recent rally was driven by a mix of technical setups and speculative sentiment.

While the broader narrative remains intact, short-term indicators point to a cooling phase.

If market sentiment and liquidity return, a renewed push could follow — but for now, traders appear to be taking a step back.

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