Schlagwort: crypto business

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Ondo Finance price crashes 60% as altcoin market loses $650B

  • Altcoin market cap falls from $1.6T to $950B in four months.
  • Ondo partners with BlackRock, PayPal, Google Cloud.
  • Token holds $0.82 but risks drop to $0.70 level.

The cryptocurrency market has entered a pronounced bearish phase, with Coinbase’s April 15 market review confirming a 41% drop in the altcoin market capitalisation.

From a high of $1.6 trillion in December 2024, altcoins now stand at $950 billion, wiping out $650 billion in value.

This downturn has triggered steep declines across the board, particularly for projects that had previously gained institutional traction.

Ondo Finance’s native token, $ONDO, has been one of the hardest hit, falling over 60% from its peak.

The slump comes despite the platform’s expanding real-world asset (RWA) strategy and rising visibility in both corporate and political circles.

While broader macroeconomic pressures and declining risk appetite are weighing heavily on crypto valuations, the case of Ondo highlights the disconnect between market performance and underlying adoption trends.

As institutional partners and high-profile endorsements continue to back the protocol, questions remain about whether this divergence is temporary—or a reflection of deeper liquidity concerns in the tokenised asset space.

Ondo builds RWA network

Ondo Finance, launched in 2021, has become a key player in the RWA sector. The platform aims to bring institutional-grade financial instruments like US Treasuries, bonds, and money market funds to the blockchain.

In February, the project launched its own Layer-1 blockchain focused on RWA tokenisation. It announced collaborations with Google Cloud, BlackRock, PayPal, Franklin Templeton, WisdomTree, and McKinsey.

Despite this momentum, $ONDO is currently trading at $0.8219—down over 60% from its December high. Its broader market structure remains bearish, with price action consistently below the 20, 50, and 200 simple moving averages (SMAs).

Trump-linked backing

Along with corporate partnerships, Ondo has recently attracted political attention. Donald Trump Jr. appeared at the Ondo Finance Summit, and World Liberty Financial—affiliated with the Trump family—invested $460,000 in $ONDO one week before the event.

While this support gained media attention, it hasn’t reversed the market trend.

Ondo also joined Mastercard’s Multi-Token Network (MTN), introducing the Ondo Short-Term US Treasuries Fund (OUSG) as the network’s first tokenised asset.

This move marks a step towards integrating RWAs into mainstream finance, potentially challenging traditional offerings from major asset managers.

$ONDO tests key support

Technically, $ONDO is clinging to support between $0.81 and $0.82, with the 100-period SMA at $0.8161. The token has faced repeated rejections between $0.88 and $0.90—an area of previous institutional interest—pointing to continued resistance at the top.

A breakdown below this support band could send the token toward $0.75–$0.77, or possibly to $0.70, which served as a rebound point in early Q1. These zones remain critical in assessing near-term downside risk.

Nonetheless, the Ondo Global Markets GM platform has helped the protocol cross $1 billion in total value locked (TVL) as of March. Daily trading volume has topped $300 million, with annualised revenue at $6 million, according to DeFiLlama.

Partnerships with high-growth networks like Aptos—which itself has crossed $1 billion in stablecoin TVL—further anchor Ondo within the decentralised finance space.

The short-term picture remains bearish, but with deep integrations across both financial and political sectors, Ondo continues to position itself for long-term relevance in the institutional crypto ecosystem.

The post Ondo Finance price crashes 60% as altcoin market loses $650B appeared first on CoinJournal.

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Bhutan’s hydro-powered crypto gamble: can green mining fuel economic growth?

Nestled in the Himalayas between India and China, the Kingdom of Bhutan is charting an unconventional economic course, harnessing its abundant hydropower resources to mine “green” cryptocurrencies.

The nation’s sovereign wealth fund sees this strategy not just as a potentially lucrative investment, but as a vital tool to diversify the economy, generate employment, and combat a worrying exodus of its young, educated populace.

Harnessing hydropower for digital assets

Ujjwal Deep Dahal, the chief executive of Bhutan’s sovereign wealth fund, Druk Holding and Investments Ltd (DHI), outlined the nation’s unique approach.

Green cryptocurrencies, unlike their more energy-intensive counterparts often reliant on fossil fuels, are mined using renewable energy sources.

For Bhutan, this means leveraging its status as a country running entirely on clean hydropower.

“We are a nation that runs 100% on hydropower, and every digital coin we mine in Bhutan using hydropower offsets that coin which gets mined using fossil fuels,” Dahal explained to Reuters on Tuesday.

So a coin mined in Bhutan will contribute to the green economy.

DHI, which also controls the country’s primary power generation utility, began incorporating cryptocurrencies into its investment portfolio back in 2019.

Dahal described the move as both a “tactical investment” and a potential “gamechanger” for the nation, long renowned for prioritizing its unique Gross National Happiness (GNH) index over traditional GDP metrics.

This index considers factors like sustainability and well-being alongside economic output.

The crypto mining operations involve using energy-intensive supercomputers, powered entirely by Bhutanese hydropower, to generate digital assets for the blockchain.

Beyond revenue: tackling brain drain and tapping ESG

The strategy has already yielded tangible results.

According to senior officials in the capital, Thimphu, Bhutan has earned millions of dollars from its crypto investments in recent years, even using some profits to cover government salaries for a two-year period.

Beyond direct financial gains, the initiative aims to address pressing domestic challenges.

Bhutan, with a population of around 800,000, is grappling with significant “brain drain.”

Government estimates suggest over 10% of its young people emigrated between 2022 and 2023, contributing to a youth unemployment rate of 16.5% in 2024.

DHI sees the burgeoning digital asset sector as a potential solution. “Bitcoin has not just given more value to hydropower energy, it has also increased access to liquidity in foreign currency,” Dahal stated, adding that training Bhutan’s youth in “blockchain and AI techniques would fuel jobs.”

Furthermore, officials are exploring an intriguing avenue: positioning Bhutan’s verifiably “green” coins as attractive assets for large corporations seeking to meet their environmental, social, and governance (ESG) targets.

This could create a premium market for Bhutanese-mined cryptocurrencies.

Powering the ambition: the hydropower hurdle

However, the success and scalability of Bhutan’s green crypto ambitions hinge critically on significantly expanding its hydropower infrastructure.

Analysts note that realizing the vision of becoming a global hub for green digital currency requires moving beyond the current generating capacity of approximately 3.5 gigawatts towards harnessing a potential estimated at 33 gigawatts.

Dahal acknowledged this necessity, outlining concrete expansion plans.

“We have plans to generate 15 gigawatts in the next 10 to 15 years,” he added, signaling a long-term commitment to building the energy foundation required for this innovative economic diversification strategy.

The kingdom is thus embarking on a journey where sustainable energy and cutting-edge digital finance intertwine, aiming to secure both economic prosperity and the well-being of its future generations.

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Bitcoin price prediction: analyst predicts BTC will hit $137k by Q3

  • Bitcoin (BTC) has rebounded above $85,000, with a predicted rise to $137,000 by Q3 2025.
  • US Treasury’s $500B liquidity boost and ETF inflows drive the bullish Bitcoin price prediction.
  • However, risks like US debt ceiling talks and failure of the coin to break $85,000 resistance could push the BTC price lower.

Bitcoin’s price trajectory over the past few days has captured the crypto community’s attention as it stabilizes above $85,000 after a recent dip below $80,000 following US President Donald Trump’s Liberation Day tariffs.

Analyst Titan of Crypto has forecasted that Bitcoin (BTC) could soar to $137,000 by the third quarter of 2025, igniting excitement among cryptocurrency enthusiasts.

This ambitious prediction hinges on a blend of technical indicators and macroeconomic trends currently shaping the market.

Why Bitcoin (BTC) price could hit $137,000

One of the factors behind Titan’s Bitcoin price prediction is the massive US Treasury liquidity injections.

The US Treasury has injected $500 billion into the markets since February 2025, reducing its Treasury General Account from $842 billion to $342 billion, significantly boosting liquidity in the markets.

This move elevated the net Federal Reserve liquidity to $6.3 trillion, with forecasts suggesting it could climb to $6.6 trillion by August if debt ceiling negotiations persist.

According to historical trends, BTC has exhibited an 83% correlation with global liquidity over the past year, often outperforming traditional assets like stocks and gold.

For example, past liquidity surges in 2022 and 2023 preceded notable Bitcoin rallies, hinting that the current environment could pave the way for another upward surge.

On the technical front, Titan of Crypto points to a bullish pennant pattern on Bitcoin’s daily chart, suggesting a potential 60% rally to $137,000 if it breaks the 200-day EMA near $90,000.

Bitcoin has struggled to overcome this resistance around $85,000 since late February, but a decisive close above it could shift momentum firmly in favour of the bulls.

Adding to the optimism, Bernstein analysts had predicted that over $70 billion in Bitcoin ETF inflows in 2025 could push prices as high as $200,000, reflecting growing institutional adoption.

The April 2024 halving, which slashed mining rewards to 3.125 BTC, further supports this narrative, as previous halvings have triggered bull runs exceeding 600% gains.

Beyond technicals, macroeconomic factors like recent tariff exemptions have lowered US Treasury yields, easing pressure on risk assets and creating a fertile ground for Bitcoin’s growth.

Market sentiment also leans bullish, with buy-side liquidity on exchanges like Binance outpacing sell-side by a factor of 10, while large investors shift BTC to cold storage, signaling long-term confidence.

The risks to Bitcoin’s climb

However, risks loom on the horizon, as an early US debt ceiling resolution could cap liquidity at $6.3 trillion, potentially stunting Bitcoin’s ascent.

Renewed trade war fears or geopolitical tensions could also drive investors toward gold, leaving Bitcoin vulnerable to a shift in safe-haven preferences.

Technically, failure to breach the 200-day EMA could trap Bitcoin below $85,000, risking a drop to supports at $78,000 or $74,500.

Despite these challenges, the broader 2025 outlook remains bright, with price targets ranging from $137,000 to $250,000, fueled by ETF inflows, corporate uptake, and post-halving dynamics.

Companies like Semler Scientific, planning to raise $500 million to buy more BTC, exemplify the rising corporate embrace of Bitcoin as a treasury asset.

Meanwhile, potential US-China trade talks could further enhance risk-on sentiment, benefiting speculative assets like Bitcoin if tensions ease.

In the mining sector, increased selling by miners due to lower profitability, evidenced by 15,000 BTC outflows on April 7 when prices hit $74,000 according to the weekly CryptoQuant’s report, presents a short-term hurdle.

Bitcoin miner CleanSpark on Tuesday announced it has secured a $200 million Bitcoin-backed credit facility from Coinbase Prime, shifting away from its previous 100% Bitcoin HODL strategy.

The company will now begin selling part of its monthly BTC production to support growth and fund operations.

However, the robust demand from institutional and retail investors appears poised to absorb this supply, maintaining upward pressure on prices.

Ultimately, Titan of Crypto’s $137,000 Bitcoin price prediction by Q3 2025 rests on a compelling mix of liquidity trends, technical potential, and institutional momentum, offering a plausible glimpse into Bitcoin’s near-term future.

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Mantle price prediction: is MNT signaling a bottom?

  • Mantle price sits near $0.7,  barely in the green in the past 24 hours.
  • But while the price movements point to a lack of momentum, it could explode.
  • The broader market performance and Bitcoin’s next moves will be key for altcoins such as MNT.

Mantle (MNT) is trading around $0.70, showing little change on the day and holding a gain of just over 6% for the week.

While these price movements indicate a lack of momentum, they mirror broader market performance.

It also points to a massive consolidation as Mantle signals a potential bottom.

Amid recent updates from the Mantle team, including the launch of Mantle Banking and the Mantle Index Four (MI4), the recipe might be there for MNT to explode in the coming weeks and months.

A move upward for Bitcoin could trigger further gains, as analysts at Glassnode observe.

“Bitcoin’s Accumulation Trend Score is currently at 0.34 – the highest it’s been year-to-date. This suggests that, on aggregate, wallets are beginning to re-enter accumulation mode, with larger cohorts stepping in modestly despite recent price weakness,” the platform posted on X.

Mantle’s ecosystem growth fuels optimism

Mantle is a project that eyes traction within the on-chain finance market, bringing its features to the ecosystem with Mantle Network, mETH Protocol and FunctionBTC.

A big part of its quest is scheduled to go live in Q2 2025, which introduces two major initiatives: Mantle Banking and the Mantle Index Four (MI4).

Mantle Banking aims to bridge traditional finance (TradFi) and decentralized finance (DeFi).

A unified platform where users can manage fiat and crypto finances seamlessly is its core target.

This “crypto neobank” will allow users to receive fiat salaries, tokenize them into stablecoins, and spend globally using virtual cards at competitive fees.

Meanwhile, MI4, backed by a $400 million anchor investment from the Mantle Treasury, is positioned as the “S&P 500 of crypto.”

It seeks to offer diversified exposure to top crypto assets in a tokenized fund format.

These developments signal Mantle’s ambition to mainstream crypto adoption, potentially driving demand for MNT as the ecosystem grows.

Further boosting confidence, Mantle’s ecosystem fund deployed $10 million to support web3 startups, fostering innovation and growth within its network.

The strategic moves underscore Mantle’s traction and potential, key to user growth and impact on MNT’s long-term value.

MNT price prediction: signs of a bottom?

From a technical perspective, MNT appears to be forming a bottom on the macro chart, suggesting a potential reversal from its downtrend.

The Relative Strength Index (RSI) has returned to a level where MNT previously bottomed, a key indicator of a possible trend shift.

MNT chart by TradingView

Historically, the movements of RSI and MNT have been highly correlated, lending credibility to this signal.

With the RSI suggesting a flip from the oversold territory, Mantle’s price could be ready for a run.

This breakout is likely if bullish momentum builds as the MACD indicator suggests.

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Block settles $40 million crypto investigation linked to Cash App

  • This follows an earlier $80 million penalty paid to other US state regulators in 2024.
  • Cash App now has over 57 million active users and supports various crypto services.
  • Block reported $6.03 billion in 2024 revenue, with earnings per share up 51%.

Block Inc., the parent company of Cash App, has agreed to a $40 million settlement with the New York Department of Financial Services (NYDFS) following findings of compliance shortcomings tied to its crypto services.

The settlement follows a state investigation that uncovered weaknesses in anti-money laundering (AML) controls, including failures to detect suspicious activity and monitor high-risk Bitcoin transactions.

Block, co-founded by Jack Dorsey, resolved the matter without admitting wrongdoing, stating the issues stemmed from legacy systems within Cash App’s historical compliance programme.

AML lapses flagged

Block’s compliance failures included insufficient customer due diligence, weak transaction monitoring, and inadequate screening of high-risk crypto activity.

The NYDFS concluded that the company’s systems were not robust enough to detect suspicious patterns tied to Bitcoin usage.

Block had been under investigation since 2023, and the company disclosed the probe and related negotiations in regulatory filings with the US Securities and Exchange Commission.

The $40 million settlement comes just months after Block paid $80 million in penalties to multiple state regulators earlier this year, also tied to AML compliance.

The back-to-back fines have renewed scrutiny on fintech platforms offering crypto services as regulators increase oversight of digital assets.

Crypto business grows

Despite facing multiple compliance challenges, Block continues to grow its crypto and banking offerings through Cash App.

The platform, which has enabled Bitcoin purchases since 2018, integrated tax-reporting software TaxBit in 2023 to support users managing their crypto liabilities.

As of early 2024, Cash App had more than 57 million monthly active users and generated $1.38 billion in gross profit in the fourth quarter alone.

Block’s financial health remains strong, reporting $6.03 billion in revenue for 2024, up 4.5% year-on-year, and per-share earnings of $0.71—an increase of 51%. The company’s gross payment volume grew 10% to $61.95 billion.

However, investors remain wary. Block’s share price has fallen 32% since the beginning of the year and more than 80% since its 2021 high.

Banking push stalls

As Block faces pressure from regulators, it is also confronting challenges in turning Cash App into a full-service banking platform.

The company has launched marketing efforts in major US cities and introduced services such as high-yield savings accounts, debit cards, short-term loans via Cash App Borrow, and buy now, pay later products through Afterpay.

The direct deposit feature reached 2.5 million users by December, an important milestone for broader financial services uptake.

Still, building trust remains a hurdle. In early 2024, the Consumer Financial Protection Bureau ordered Cash App to refund up to $120 million to users over deficiencies in fraud investigations.

Analysts are questioning whether Cash App can compete with fintech players like Robinhood, which have begun offering higher-interest accounts and more comprehensive banking products.

Block’s efforts to reposition Cash App as a digital bank come at a time when regulatory scrutiny of fintechs is intensifying, particularly around cryptocurrency compliance and fraud prevention.

While the company has avoided admitting guilt in its settlements, the multiple investigations have raised questions about its readiness to scale its financial services model within a tightly regulated environment.

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