Schlagwort: crypto business

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TRX price forecast as Tron lists TRUMP and Tron Inc. goes public on Nasdaq

  • TRON Inc. has been publicly listed on Nasdaq, boosting TRX market visibility.
  • TRON has integrated the TRUMP memecoin with cross-chain LayerZero support.
  • TRX holds bullish momentum with $0.33 as the key short-term target.

The TRON ecosystem is experiencing a defining moment in its evolution as a blockchain platform.

Following the launch of the politically themed TRUMP token and the landmark public listing of Tron Inc. on the Nasdaq, investor attention has sharply turned toward TRX, the native token of the TRON network.

Notably, these events, alongside strong Q2 growth metrics, are reshaping short-term and long-term expectations for TRX’s price trajectory.

Tron Inc. goes public, drawing Wall Street’s attention

TRON founder Justin Sun rang the opening bell at the Nasdaq MarketSite in Times Square this July, marking the public debut of Tron Inc. (Nasdaq: TRON), a newly formed entity resulting from a reverse merger with SRM Entertainment.

Formerly a toy supplier to entertainment giants like Disney and Universal, SRM now maintains its original business while adding a crypto-focused strategy under the Tron Inc. banner.

Tron Inc. currently holds more than 365 million TRX tokens, making it the largest public holder of TRX. At press time, the holding was valued at approximately $115 million.

This level of exposure has significantly raised the profile of TRX in traditional financial markets despite shares of Tron Inc. closing at $8.74, down over 10%, hinting at market volatility amid the transition.

TRUMP token expands TRON’s political footprint

Adding further momentum to TRON’s ecosystem, the blockchain recently integrated the $TRUMP token, leveraging LayerZero’s Omnichain Fungible Token (OFT) standard and Stargate Finance’s cross-chain infrastructure.

This move allows $TRUMP to flow seamlessly across blockchains without needing bridges or wrapped tokens, offering a scalable, low-fee environment ideal for mass adoption.

TRON’s DAO views this integration not just as a listing but as a cultural step forward, signalling support for politically resonant digital assets.

Alongside the rising profile of MAGACOIN Finance, the addition of $TRUMP underscores TRON’s willingness to embrace community-driven tokens with real-world themes.

This trend could continue, further expanding TRON’s reach in the altcoin and DeFi space.

Strong Q2 numbers back the bullish case for TRON

TRON’s recent performance reinforces its bullish foundation. According to data from Messari, the network’s market cap surged by 17% to $26.5 billion in Q2, while revenue climbed over 20% to reach $915.9 million.

Stablecoins remain at the heart of this growth, especially USDT, which accounts for over 99% of TRON’s stablecoin volume.

TRON now facilitates over $21.3 billion in daily stablecoin transfers, a jump of 11.6% from the previous quarter.

Activity across the chain has also grown, with daily transactions rising 12.6% to 8.6 million and active addresses reaching 2.5 million.

The recent Stake 2.0 upgrade helped push the staking ratio to 47.1%, reinforcing long-term investor confidence.

Although DeFi metrics were mixed, with TVL dipping slightly to $4.6 billion, decentralised exchange volumes rose by 25%, led by SUN V3, indicating that traders remain active even as overall DeFi values fluctuate.

TRX price eyes higher targets amid the steady uptrend

Technically, TRX has maintained an upward trend since late June, bouncing off key support levels and forming consistent higher lows.

After reaching a recent high near $0.335, the token underwent a healthy correction but quickly found strong support around $0.3067.

This level, near the 100-period moving average and an established trendline, continues to hold firm.

The current price hovers around $0.3149, and short-term momentum suggests another upward push may be in play.

If TRX can maintain this bullish structure, analysts anticipate a return to the $0.33–$0.335 zone, which has acted as both a resistance and previous high.

Actually, some data analysts like CW believe the next target for $TRX is $0.38, which is the 1.618 Fibonacci.

Traders should closely watch the $0.3067–$0.31 range for any sign of weakness.

A breakdown could signal a deeper correction toward $0.29 as outlined by CoinLore.

However, as long as the price stays above trend support, the bulls remain in control, and this scenario is more likely given the increased exposure from Tron Inc.’s Nasdaq listing and TRON’s expanding utility.

The post TRX price forecast as Tron lists TRUMP and Tron Inc. goes public on Nasdaq appeared first on CoinJournal.

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Bitcoin drops to $115k as Galaxy Digital dumps 30,000 BTC

  • Bitcoin price fell 3% to below $115k, with intraday lows of $114,750.
  • Galaxy Digital has deposited over 30,000 BTC.
  • Lookonchain shared on-chain details indicating Galaxy sold over 10k on Binance, OKX and Bybit.

Bitcoin (BTC) fell sharply on Friday, touching lows near the $115,000 mark, as analysts pointed to a sell-off by a long-dormant Bitcoin whale.

Bitcoin, which recently hit an intraday high of $123,000, gave up gains to trade as low as $114,759 — down 3% over 24 hours.

The move marked its lowest level in two weeks, last seen on July 10, when BTC surged from $110,000.

Why did the Bitcoin price fall sharply today?

Bitcoin, which had recently consolidated in the $117,000–$118,000 range as altcoins outperformed, broke below key support levels to hit a multi-week low amid heavy selling pressure.

The decline follows on-chain activity suggesting that a long-dormant wallet, active for the first time in 14 years, moved 80,000 BTC to exchanges through Galaxy Digital.

Data indicates the holdings may have been offloaded in the past 24 hours.

“Note that Galaxy Digital has deposited over 10,000 $BTC ($1.18B) to exchanges in the past 8 hours! The 10,000+ $BTC comes from the Bitcoin OG holding 80,009 $BTC($9.68B),” Lookonchain posted on X.

Lookonchain then shared an update showing over 30k BTC sent to exchanges, including Binance, OKX and Bybit. Currently, Galaxy has transferred over 30k BTC to exchanges.

Also notably, Galaxy withdrew $1.15 billion USDT from exchanges after the BTC deposits.

Over $518 million liquidated

Per details on Coinglass, the BTC sell-off has erased over $518 million in leveraged positions within the last 24 hours.

Most of these are longs at over $380 million, with more than $135 million of it in bullish bets on BTC wiped out.

The whale’s activity is thus likely to have an impact, largely panic selling that could further push prices lower.

Liquidations mounting will see more longs taken out, with some like AguilaTrades already seeing millions in potential profits disappear.

What’s next for the Bitcoin price?

According to crypto analyst Captain Faibik, while bulls may yet retain the upper hand, a breakdown is likely.

The analyst points to a falling wedge pattern and says a daily close below $113k could confirm this negative outlook.

However, if BTC holds steady and moves toward $118k, a decline in selling pressure may allow buyers to retest key supply zone areas.

As the market reacts to the Bitcoin price drop, investors may want to position themselves amid buy-the-dip opportunities.

In this case, Bitcoin’s next move is very much a key factor.

The post Bitcoin drops to $115k as Galaxy Digital dumps 30,000 BTC appeared first on CoinJournal.

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Ethena surges 20% after Arthur Hayes scoops up 2M ENA tokens

  • Arthur Hayes has invested $1.06 million in ENA.
  • The BitMEX co-founder now holds 7.76M ENA coins, worth approximately $3.73M.
  • The altcoin has gained nearly 20% in the past 24 hours.

Digital tokens traded in the red on Friday as bears dominated amid intensifying profit-booking.

Meanwhile, Ethena was among the few tokens decoupling from the downside wave.

Amid the prevailing selling pressure in the cryptocurrency market, ENA has rallied from yesterday’s intraday low of $0.4268 to $0.5088 on Friday.

That means an around 19% surge, which has attracted attention amidst prevailing downtrends.

Ethena’s rebound has coincided with a massive purchase from BitMEX co-founder Arthur Hayes.

According to Lookonchain, the American entrepreneur has scooped 2.16 million ENA tokens today, worth approximately $1.03 million.

The transactions come as the digital token plunged 25% from the Monday high of $0.5812 to yesterday’s $0.4307.

Meanwhile, the considerable buy demonstrates Hayes’s conviction in Ethena’s future potential.

Furthermore, he did not use one platform to complete the purchases.

The investor sourced his ENA from Binance, Flowdesk, and Galaxy Digital.

That depicts how he strategically uses various liquidity providers to secure his cryptocurrency investments.

Recently, Hayes made headlines for using Flowdesk to acquire AAVE and Lido tokens in an over-the-counter purchase.

Hayes’s confidence in Ethena

The timing and size of the purchase signal trust in the project’s long-term value.

Hayes capitalized on discounted prices to add to his holdings despite prevailing market volatility.

The latest accumulation sent his balance to 7.76 million ENA tokens, worth approximately $3.73 million.

Ethena allows users to access DeFi yields and a synthetic dollar, USDe.

It has gained increased traction lately, with its circulating supply topping $6 billion.

While not all market participants follow fundamentals, Hayes’s involvement is adequate to influence sentiments.

The latest purchase could magnify trust in the project and attract more investors to the Ethena ecosystem.

Retail and some institutional players use such indicators to increase their balances or re-enter the market.

That seems to be paying out as ENA witnessed increased attention, bullish sentiments, and spiked volumes hours after Hayes’s purchase.

Ethena’s Open Interest gas increased by 16% to $835.17 million, while volume soared 15% to $2.83 billion (Coinglass data). Moreover, the 1.0276 24H long/short ratio shows that most traders are bullish as they bet on price recoveries.

ENA price outlook

The native token traded in green amidst the optimistic developments.

ENA hovers at $0.4933 after correcting from intraday highs.

The rally came even as bears dominated the cryptocurrency space, with Bitcoin down 2% in the past day to press time’s $115,150.

Meanwhile, the $117,000 – $119,700 zone remains crucial for BTC’s directional trajectory.

A decisive candlestick closing outside this range will pave the way for the next significant move.

Ethena’s current outlook reflects how major players can influence sentiments and prices in the digital tokens industry.

Bullish enthusiasts will watch ENA’s performance in the upcoming sessions to see how timely Hayes’ purchase is.

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Ether climbs above $3,600, but technical indicators show signs of weakness

Key takeaways

  • ETH is up nearly 2% in the last 24 hours and now trades above $3,600.
  • Technical indicators are showing signs of weakness, suggesting a bearish trend for the coin.

ETH stays above $3,600 as BTC dips

The cryptocurrency market has been volatile over the last couple of hours, with Bitcoin dropping below the $116k level. Bitcoin lost nearly 2% of its value and now risks dropping below $115k if the selloff continues.

However, Ether, the second-largest cryptocurrency by market cap, is currently in the green after adding more than 1% to its value in the last 24 hours. This allowed it to top the $3,600 mark.

However, the technical indicators are suggesting signs of weakness, and ETH could experience a selloff. The higher timeframe chart remains bullish, indicating that the buyers are still in control. 

ETH could retest $3k if the bearish trend persists

The ETH/USD 4-hour chart remains bullish as Ether outperforms Bitcoin and some other leading cryptocurrencies. The price is also efficient, suggesting that ETH could be getting ready for another upward movement. 

However, the technical indicators on the lower timeframe are switching bearish, suggesting a selloff on the horizon. ETH failed to find support around the daily level of $3.730 and declined below $3,600.

ETH/USD 4H Chart

However, it has recovered its position above $3,600. If Ether closes below the $3,500 daily candle, it could experience a correction to retest the $3,000 psychological level. 

The Relative Strength Index of 49 shows that the bulls are losing control of the market, indicating a fading bullish momentum.

Furthermore, ETH’s MACD indicator is converging closer together, and the green histogram bars are also falling, both suggesting a growing bearish appetite.

On the flipside, if ETH’s daily candle closes above $3,500, the bulls could push the price higher in the near term. ETH could retest the $3,730 resistance level in the coming hours or days before aiming for the $4k psychological level.

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Michael Saylor’s Strategy upsizes ‘stretch’ preferred stock sale to $2.8 billion

  • Michael Saylor’s Strategy launched and upsized a new preferred stock offering from $500M to $2.8 billion.
  • The ‘Stretch’ security promises a hefty 9% annual payout with no end date and a flexible, adjustable dividend.
  • The deal is the latest in Saylor’s years-long effort to transform Strategy into a financial vehicle to acquire Bitcoin.

Michael Saylor’s relentless quest to transform his company, Strategy, into a Bitcoin-acquiring financial juggernaut has reached a new level of ambition.

The firm has launched and then promptly upsized a novel preferred stock offering, raising a staggering $2.8 billion in a deal that further showcases Saylor’s prowess in the capital markets and the insatiable investor appetite for exposure to the booming crypto market.

As crypto prices continue their upward march, Saylor’s Bitcoin holding company, Strategy, has once again demonstrated its unique ability to tap into market enthusiasm.

The company priced a new kind of security on Thursday, which it has dubbed “Stretch.” This offering promises buyers a hefty 9% annual payout with no specified end date, an unusual feature in the often-arcane world of preferred stock.

Initially planned as a $500 million deal, the offering was upsized to $2.8 billion due to overwhelming demand, according to a person familiar with the transaction who asked to remain anonymous.

This move is the latest, and perhaps most audacious, demonstration of Saylor’s Wall Street wizardry in his years-long effort to pivot a middling software firm, formerly known as MicroStrategy, into a corporate entity singularly obsessed with one goal: raising as much money as possible to acquire as many Bitcoin as possible.

At last count, the company’s hoard stood at some 600,000 coins, worth approximately $70 billion.

“This is not the first financial engineering initiative by Strategy,” noted Campbell Harvey, a professor at Duke University. “In any situation where your company is worth far more than fundamental value, you raise money.”

Since Strategy’s first groundbreaking Bitcoin purchase in 2020, Saylor has employed a diverse range of financial instruments, including selling equity, issuing various types of debt, and layering multiple stacks of preferred shares.

In doing so, he has not only amassed a colossal Bitcoin treasury but has also inspired a fleet of imitators, spurring a new industry of public companies dedicated to the so-called “treasury strategy” of buying and holding cryptocurrencies.

The ‘Stretch’ security: a new twist on an old theme

Many of the previous financial instruments that have fueled Strategy’s rise have proven to be more popular than expected, but even against that backdrop, the demand for “Stretch” was notable.

The company’s common shares rose 0.5% on Wednesday and are up an impressive 43% for the year.

The new “Stretch” shares occupy a specific place in Strategy’s complex and unusual capital structure.

They sit above the company’s common stock and its other preferred shares—which carry creative names like “Strike” and “Stride”—but remain subordinate to its convertible bonds and another preferred stock known as “Strife.”

A key feature that distinguishes “Stretch” from earlier offerings is its flexible dividend. Unlike a fixed payout, this security allows Strategy to tweak the dividend rate.

Each month, the firm will set a new payout rate with the aim of keeping the share price near the $100 mark, raising or lowering the dividend as needed to maintain this target. It’s a unique combination of a dynamic pricing model and a trust exercise, and a clear reminder that in the world of financial engineering, Strategy often creates its own rules.

Diminishing returns? A discount to win over investors

While this flexibility may appeal to Saylor’s large and dedicated fan base of retail investors, it also introduces a new layer of uncertainty into an already complex capital structure.

There are some signs that Saylor’s tactics may be facing somewhat diminishing returns, as the value of the company, relative to the Bitcoin it owns, has reportedly gone down.

In a move to win over investors for its latest offering, Strategy offered the “Stretch” shares at a discount. The shares, which are set to carry an initial dividend of 9%, were sold for $90 each.

This was at the bottom of the marketed range and represents a discount to their face value of $100, according to the person familiar with the deal.

Despite the discount, the outsized demand for the deal provides the latest and most powerful sign of both Saylor’s avid following and the continued speculative fervor that is running through the financial markets.

According to a previous Bloomberg report, major financial institutions including Morgan Stanley, Barclays Plc, Moelis & Co., and TD Securities worked on this landmark deal.

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