Schlagwort: crypto business

• BNB Chain hits 60M active addresses, doubling year-to-date.
• BNB futures Open Interest climbs to a record $2.57 billion.
• Analysts eye $1,300 as the next BNB price target, with support near $1,191 if corrected.

BNB has surged to a fresh all-time high (ATH) of $1,220.63, extending a powerful rally that has captured investor attention and lifted the token to historic levels.

The latest milestone underscores growing confidence in Binance and the wider cryptocurrency market, as bullish momentum fuels expectations of further gains toward $1,300.

Bulls extend control

The rally follows weeks of sustained growth, with BNB climbing more than 17% last week and over 40% in the past month.

This momentum has been driven by expanding activity on the Binance Smart Chain, a sharp rise in decentralised finance (DeFi) use, and renewed institutional inflows into digital assets.

At the same time, Binance has continued its regular token burns and expanded into Web3 services, including staking, NFTs, and cross-chain infrastructure, thereby reinforcing BNB’s role as more than a speculative asset.

The token’s utility across payments and DeFi protocols has become a defining feature of its long-term strength.

Traders are increasingly positioning around this ecosystem-driven growth, helping BNB sustain its rally even as the broader market consolidates.

With the global crypto market approaching $4 trillion in value again, BNB’s performance stands out as a marker of resilience and investor trust.

BNB Chain network activity surges

Alongside the price surge, BNB’s on-chain metrics have reached record highs.

Monthly active addresses on BNB Chain have doubled year-to-date, topping 60 million in a sign of accelerating adoption.

Total Value Locked in BNB-based protocols has also climbed sharply, rising from $7.58 billion in late September to $8.69 billion in early October, the highest level since mid-2022.

These metrics highlight growing user participation and capital deployment within the Binance ecosystem.

Derivatives activity also confirms the bullish tone, with the Open Interest in BNB futures hitting a new peak of $2.57 billion, according to CoinGlass data, suggesting fresh inflows of capital into leveraged positions.

This build-up of positions adds further weight to expectations of continued upside, as traders bet on higher prices.

BNB’s technical outlook points higher

From a technical perspective, BNB has cleared several key levels.

After rebounding from support near the 61.8% Fibonacci retracement at $948.45, the token climbed over 24% in just six days, breaking past $1,192 before setting the latest record high.

Analysts now see the next immediate target at $1,229.80, followed by the 161.8% Fibonacci extension level around $1,301.91.

Indicators back this view, with the Relative Strength Index (RSI) at 73.58 and still pointing upward, while the MACD recently flashed a bullish crossover.

Despite the strong setup, analysts warn that corrections cannot be ruled out, especially with the RSI now in the overbought region.

If the BNB price pulls back, market analysis points to $1,191 as the first key support level to monitor. A failure to hold that zone could push the price lower toward $1,079.

Even so, market sentiment remains overwhelmingly positive, with demand for BNB supported by both technical strength and ecosystem growth.

The post BNB price soars to record $1,220, bulls target $1,300 amid market revival appeared first on CoinJournal.

• Solana CME futures OI hits record $2.16B as institutions accumulate ahead of SEC ETF ruling.
• Solana ETPs surpass $500M AUM, led by REXShares SSK and Bitwise BSOL staking products.
• SOL price outlook: pullback to $210 seen as healthy, while $250 breakout eyes $290 highs.

Solana (SOL) futures have entered a defining phase as institutional interest gathers momentum, with the Chicago Mercantile Exchange (CME) open interest reaching an all-time high of $2.16 billion.

This comes as SOL’s price rebounded 23% from $195 to $235, signaling renewed optimism in the lead-up to the US Securities and Exchange Commission’s (SEC) October 10 decision on a Solana ETF.

Institutions drive futures open interest

The surge in CME open interest coincided with Solana finding a local bottom, a timing that suggests institutions are positioning aggressively ahead of key regulatory developments.

The CME annualized basis currently sits at 16.37%, down from its July peak of 35%. This indicates a constructive yet not overheated futures market.

By contrast, retail-driven open interest on centralized exchanges has remained relatively flat, with funding rates hovering near neutral.

The cautious stance by retail traders reflects the lingering impact of the $307 million in liquidations on September 22, when $250 million in long positions were wiped out.

This divergence between institutional conviction and retail hesitation is contributing to a more balanced market dynamic.

Market analysts note that the current setup reduces the risk of over-leveraged volatility.

Institutions appear to be accumulating with conviction, while the lack of retail chase helps prevent speculative excess.

This creates a backdrop that is bullish but measured, less prone to sharp drawdowns.

Growing institutional adoption through ETPs

In addition to futures activity, institutional demand for Solana has been reinforced by inflows into regulated investment products.

This week, Solana exchange-traded products (ETPs) surpassed $500 million in assets under management (AUM).

Leading the flows is the Solana Staking ETF (SSK) from REXShares, which has now exceeded $400 million in AUM.

The Bitwise Solana Staking ETP (BSOL) also crossed the $100 million mark.

Both products have grown rapidly since their launch, underscoring the increasing appetite for regulated vehicles that provide Solana exposure.

The milestone highlights how Solana is gaining traction among institutional investors, not just through derivatives but also through asset management channels.

With speculation mounting around a potential US-listed Solana ETF, these developments signal rising confidence in the altcoin’s long-term adoption.

Price outlook: balanced but bullish

Solana’s near-term price trajectory depends on whether retail traders re-enter the market.

On the downside, analysts note that a retracement toward $218–$210 would remain consistent with a bullish structure.

Such a pullback would align with a fair value gap (FVG) on the four-hour chart and retest the 200-period exponential moving average (EMA).

The liquidation heatmap also identifies a liquidity cluster of over $200 million between $220 and $200, making this zone a potential short-term price magnet.

A correction into this range could help establish a higher low while flushing out late entrants.

On the upside, a move above $245–$250 would signal renewed strength and could propel SOL toward its all-time highs near $290.

Given the backdrop of institutional flows and ETF speculation, this scenario carries growing weight.

For now, Solana futures reflect a market transitioning from fear into cautious accumulation.

Institutions are anchoring the trend, and their growing presence in both futures and ETPs suggests that even if corrections occur, they are likely to be shallow rather than trend-breaking.

The post Solana futures surge as institutions drive open interest to record highs appeared first on CoinJournal.

• Whales have added $1.5B in XRP, signalling strong institutional demand.
• Seven XRP ETFs await the SEC’s ruling starting October 18, lifting approval hopes.
• XRP has held the $3 support as rate cuts and treasuries fuel a bullish outlook.

XRP has entered October with renewed momentum, breaking above the $3 mark and capturing the attention of traders, institutions, and regulators alike.

The cryptocurrency, which has often played second fiddle to Bitcoin (BTC) and Ethereum (ETH) in major rallies, is now being positioned by analysts and market watchers as a possible leader of the next bullish wave.

A mix of whale accumulation, mounting XRP ETF speculation, and a favourable macroeconomic backdrop has set the stage for what could be one of XRP’s most decisive periods in years.

Whales’ appetite for XRP on the rise

Large holders have made their presence felt in recent days, with wallets holding between 100 million and one billion XRP adding over half a billion tokens worth $1.54 billion.

That surge brought whale balances close to record highs and underscored conviction at current levels.

Even after minor profit-taking, whale positions remain elevated, reflecting confidence in XRP’s trajectory.

At the same time, short-term investors have also been building positions. The one-month to three-month holding group has grown steadily, while the share of supply moving within a single day spiked dramatically.

Together, this simultaneous whale and retail accumulation has created a rare moment of alignment, with both ends of the market betting on a breakout above $3.10 in the short term.

XRP ETFs approval odds surge ahead of October ruling

Much of the growing enthusiasm stems from the looming decisions on several spot XRP exchange-traded fund applications.

The US SEC is scheduled to issue its first ruling on October 18, with six more cases lined up through the following week.

Notably, regulatory changes, including the adoption of new Generic Listing Standards, have boosted approval odds and drawn comparisons to the process that paved the way for Bitcoin ETFs.

The Bitcoin ETFs have already attracted more than $150 billion in inflows, and if XRP ETFs receive similar approval, even on a smaller scale, the resulting accessibility for traditional investors could mark a turning point.

Prediction markets, including Polymarkets, are already pricing approval odds at above 99%, fueling speculative flows in anticipation of a green light.

Institutions are accumulating XRP

Alongside ETF bets, corporate treasuries are also beginning to add XRP.

VivoPower, a Nasdaq-listed company, announced plans to allocate $19 million into XRP, while Japan’s Gumi has added more than $13 million worth to its holdings.

These moves reinforce the idea that firms see XRP as more than just a speculative token, but also as a long-term asset with utility in cross-border payments.

Ripple itself has been pushing forward on the institutional front.

In Japan, SBI Holdings has expanded institutional XRP lending services after its partnership with Ripple, a move that deepens Asian liquidity.

Meanwhile, Ripple announced a $1.3 million donation in stablecoins to fund a new Center for Digital Assets at UC Berkeley, a hub that will focus on blockchain research and tokenisation of real-world assets.

These initiatives add weight to the narrative that XRP is positioning itself for broader financial adoption.

XRP price outlook

The XRP price has gained nearly 11% in the past week and more than 490% over the past year, reflecting its ability to capitalise on favourable cycles.

However, it has been locked in a descending triangular channel since early August, but recent moves suggest that pressure is building for a decisive break.

The token has already reclaimed both its 20-day and 50-day moving averages, with the Relative Strength Index (RSI) sitting in a neutral zone and momentum indicators like the MACD turning bullish.

The coming weeks could prove more decisive than the past year combined, especially with whale inflows, corporate treasuries stepping in, ETF deadlines approaching, and the macroeconomic backdrop turning supportive.

Eyes are currently at the short-term resistance at $3.10, which remains the key barrier for any further bullish momentum.

A sustained close above $3.10 could open the door to targets near $3.40 and potentially $3.66.

Some analysts even see the possibility of a run to $4.20 if strong volume and institutional flows accompany the move.

However, for the altcoin to sustain the current bullish breakout, it must remain above the support at $2.99, which has remained firm over recent sessions.

The post XRP price outlook: why whales, ETFs, and rate cuts could send XRP soaring appeared first on CoinJournal.