Schlagwort: crypto market news

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Early PUMP investors dump 25.5 billion tokens, pocketing nearly $40 million in profit

  • Two wallets offloaded PUMP worth $141M the previous week.
  • The sales yielded around $39.65 million in profit.
  • The transactions (made to FalconX and CEXs) have raised concerns over Pump.fun’s token distribution.

As the GENIUS Act fuels the altcoin season narrative, a bold move involving the recently launched PUMP coin has raised eyebrows within the cryptocurrency community.

According to EmberCN’s July 21 X post, two wallets that participated in Pump.fun’s private placement have offloaded 25.5 billion PUMP tokens, worth approximately $141 million.

The transaction saw the investors netting combined $39.65 million profits within a week.

The speed and magnitude of these transfers have stirred widespread debates among crypto enthusiasts, with many questioning Pump.fun’s token distribution structure and the altcoin’s long-term price stability.

Key investors exit PUMP

The first wallet D6ar…Lazd secured 25 billion PUMP coins after joining the institutional round with $100 million USDC.

Notably, this private placement mirrored a public sale as it lacked a lock-up period with the same buying price.

That’s unusual for institutional investors.

While the market rallied over the last week, driven by regulatory changes in the United States, this wallet sent 13 billion tokens, worth approximately $71.46 million, to a trading and liquidity platform FalconX.

Meanwhile, the assets later moved into multiple central exchanges (CEXs).

The investor dumped at around $0.0055 average price, accumulating $19.5 million returns in less than a week.

The second wallet walked away with around $20.15 million with a similar approach.

It received 12.5 billion tokens after committing $50 million USDC to the private sale.

Meanwhile, the whale moved all the tokens to CEXs, locking in returns at $0.0056 average price per PUMP coin.

Maximum liquidity without lock-up

The most noticeable thing is that these private round participants didn’t have lock-up terms.

Generally, institutional crypto purchases include vesting periods to ensure stability and discourage sudden dumps.

In Pump.fun’s saga, large-scale investors were free to offload immediately, giving them an edge over retail players who joined later.

Further, the community criticized for creating an irregular playing ground with equal pricing between private and public offerings.

PUMP momentum threatened

The altcoin has remained on investor radar since its July 12 public sale, which sold off within twelve minutes.

While it demonstrates strength despite early backlash, the substantial dump from early participants darkens PUMP’s short-term outlook.

The substantial sell-offs will likely impact liquidity, investor confidence, and price actions in the upcoming sessions.

The derivatives markets data signal a weakening strength according to Coinglass.

PUMP’s trading volume has plunged 10% to $1.11 billion, whereas a 7% dip in Open Interest indicates fading trader optimism.

Moreover, the Pump.fun team hasn’t commented on the significant transactions or the project’s private placement structure.

The lack of transparency could dent PUMP’s sentiments further.

Enthusiasts will watch how the altcoin reacts to the latest on-chain developments.

Nonetheless, broad market sentiments remain vital in shaping the altcoin’s trajectory.

Bulls dominate the digital assets, and with Bitcoin’s declining dominance hinting at an impending altcoins season, massive rallies could absorb PUMP’s anticipated selling pressure.

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XRP price soars 24% last week: what’s next for the Ripple token?

  • XRP rallies 24% on SEC approval of XRP-linked ETFs from ProShares and Grayscale.
  • Volume explodes with over 182 million tokens traded, signaling strong institutional and retail demand.
  • Breakout above $3.20 clears long-term resistance, unlocking upside targets up to $6.50.

XRP took the crypto market by surprise last week, jumping nearly 24% and hitting new all-time high levels. 

The token climbed to $3.27 and briefly spiked to $3.64 during intraday trading, marking a big breakout after months of stagnation.

The rally seems to have been sparked by a mix of factors: buzz around newly approved ETFs, fresh interest from big institutional players, and solid technical momentum.

All of it played out against the backdrop of an overall bullish mood in the crypto space, giving XRP the fuel it needed to take off.

What drove XRP price rally?

ETFs became one of the big reasons behind XRP’s breakout. After years of waiting, July saw the SEC finally approve several XRP-linked exchange-traded funds, ProShares and Grayscale among them.

That opened the door for serious money to get involved. Once those products started trading on US exchanges, the floodgates opened.

XRP volumes exploded, with more than 182 million tokens changing hands at one point. It wasn’t just hype; there was real buying from both institutions and retail investors jumping at the new access.

Adding to the momentum, Grayscale brought XRP back into its Digital Large Cap Fund, the first time since the regulatory fog started to clear.

It’s a signal that Wall Street is getting more comfortable with XRP’s legal standing.

At the same time, Ripple’s push to secure a US bank charter is giving investors more confidence that the company and its token are moving toward firmer regulatory footing.

Key technicals 

XRP didn’t just make headlines last week; it made a real move. After years of going sideways, it finally broke through stubborn resistance around $3.05 and $3.20, levels that traders had been watching forever.

That breakout also cleared the top of a massive symmetrical triangle that’s been in play since 2018.

With that technical lid off, some chart watchers are now floating price targets in the $4.70 to $6.50 range, though, as always, it’ll depend on whether the momentum sticks around.

Behind the scenes, big players seem to be piling in.

Wallets holding over a million XRP have hit record highs, a strong sign of large-scale accumulation.

Meanwhile, perpetual futures open interest has ballooned to an all-time high of $8.8 billion, roughly 2.9 billion XRP worth of leveraged bets, hinting at a surge in activity from both speculators and pro traders managing risk.

What’s next? 

Most analysts think XRP’s rally still has room to run, assuming ETF inflows keep coming and there aren’t any surprise moves from regulators.

In the short term, traders are watching the $3.40 to $3.60 range, with $4 looming as the next big hurdle, both technically and psychologically.

If momentum holds and Ripple keeps chalking up regulatory wins, some are eyeing a push toward $4.50, maybe even $6, in the next few months.

That said, it’s not all blue skies. If XRP slips back below $3.00, it could trigger a pullback toward the $2.80–$2.90 zone, especially if the broader crypto market cools off or headlines take a bearish turn.

Still, with a shot at a new all-time high and its market cap approaching the $200 billion mark, XRP looks set to remain one of the top stories heading into Q4.

 

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FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims

  • Backpack has unveiled a fee-free platform for FTX victims to sell their claims.
  • The platform generated excitement as it pledged zero profits from the process.
  • FTT coin gained more than 7% amid the developments.

FTT joined today’s broad-based altcoin rallies with a significant surge.

While the altcoin narrative boosted the alt’s sentiments, the latest announcement from Backpack exchange added to the bullish momentum.

Backpack has launched a non-profit platform to help victims of the collapsed FTX exchange liquidate their bankruptcy claims.

The announcement triggered excitement, especially for creditors who have been in limbo for over two years, wondering whether they would ever recover their lost funds.

The Backpack team said:

We deeply understand the pain of being former FTX users. To assist other users who still hold FTX claims, we are launching a non-profit, completely neutral claims sale channel starting today, helping FTX global claim holders connect with third-party buyers willing to purchase FTX claims.

Notably, Backpack was among the platforms that suffered massive financial losses following FTX’s late 2022 debacle.

It lost assets worth approximately $14.5 million as Sam Bankman-Fried’s empire crumbled.

Most importantly, Backpack is not after recognition or financial gains.

It has emphasized that this is a community-centric, zero-profit program introduced to link claimants with legitimate buyers in a secure environment.

The initiative enhanced sentiments among FTT holders, reflected by the surged prices.

A transparent and straightforward process

Backpack’s new offering adopts user-friendliness.

Individuals only need to visit the exchange’s platform and complete basic ID checks.

This is to adhere to regulatory policies.

After eligibility verification, qualified users will receive offers from legitimate buyers and enjoy a secure and frictionless process to liquidate their assets.

Remember, Backpack will not take commissions or charge fees throughout this process.

FTT rallies in response

While it remains a controversial token, as it lacked utility following FTX’s debacle, FTT remains a proxy for sentiments around the exchange’s bankruptcy efforts.

It has always reacted to developments associated with the creditor reimbursement process.

The digital coin gained from a daily low of $0.8779 to $0.9408 intraday peak.

That’s a 7% increase, and the recovering 24-hour trading volumes signal a potential trend shift to the buyer side.

Technical indicators on the daily timeframe support the upside trajectory.

The Moving Average Convergence Divergence displays bullish momentum with green histograms while above the signal line.

The Relative Strength Index at 63 signals more room for upswings before FTT reaches the overbought area.

Meanwhile, FTT’s future depends on the claimants’ decision. Relentless dumps would mean massive selling pressure for the native token.

Backpack has urged users to avoid selling with a disclaimer:

Selling claims is a voluntary action and involves opportunity costs. If you choose to continue holding your claims, you may receive higher compensation in the future. Please make a careful decision based on your own judgment.

On the other hand, bulls dominate the cryptocurrency sector as bullish sentiments prevail. Bitcoin hovers at $120,140.

A daily candlestick closing above $121,000 could trigger continued gains to free all-time highs at $132,000.

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SOL gains momentum as Circle’s USDC mints on Solana surpass $3B in July

  • The stablecoin issuer has minted $500M USDC on Solana today.
  • It has minted $1B stablecoins in the previous week, bringing its July total past $3 billion.
  • SOL trades at a key level, targeting the $200 mark.

Solana is in the spotlight as altcoins rally with Bitcoin above the $120,000 zone after the US Congress passed the groundbreaking crypto bills.

Amidst the rallies, stablecoin issuer Circle has minted $500 million USDC on the Solana blockchain today.

The new injection has pushed the firm’s weekly mint to $1 billion USDCs, indicating intensified stablecoin activities on the SOL network.

Furthermore, Circle has minted USDC worth over $3 billion on the Solana blockchain since the start of July.

That’s among the most aggressive stablecoin expansions the crypto platform has witnessed in 2025.

These developments underscore institutional trust in Solana’s infrastructure and future potential.

Meanwhile, the optimism is already reflected in SOL’s price action.

The native token hovers at a key level of $180, targeting swift rallies toward the sought-after $200.

Why increased stablecoin activities matter

Circles move to mine USDC worth billions of dollars on Solana is beyond a mere blockchain activity.

The move signals confidence in the network’s cost-friendly model and scalability.

While Ethereum still grapples with high gas fees and congestion, Solana offers ultra-low fees and near-instant transaction completion.

That makes it perfect for handling massive volumes of stablecoin transfers.

The USDC minting spree signals growing institutional trust in Solana’s capabilities.

To investors, traders, and developers, the development signals a growing ecosystem ripe to support stablecoin-centric growth.

It is no surprise that native SOL displays bullishness amidst USDC surges.

Liquidity plays a crucial role in blockchain’s overall health, and stablecoins ensure smooth undertakings, from interacting with DEXs to lending protocols.

More USDCs joining the network will enrich Solana’s throughput and demand, which in turn leads to price growth.

Also, the move reflects Circle’s expansion goals.

The company requires a blockchain that can handle massive real-world volumes as it braces for its IPO (initial public offering).

Will Solana’s battle-tested, cheap, and fast capabilities make it a perfect partner?

Solana price outlook

SOL trades at $180 after gaining more than 6% in the past 24 hours.

The current price places it at a key level.

A closing above $180 will likely catalyze smooth gains toward the psychological mark at $200.

Technical indicators support Solana’s upside stance.

The 1D Moving Average Convergence sways above the signal line, suggesting buyer control.

Also, the Chaikin Money Flow has remained elevated since July 14.

That confirms increased cash entering the SOL ecosystem as investors expect imminent rallies.

Bulls target the $188 zone, beyond which Solana can rally frictionlessly to $200.

Solana enthusiasts @splsamurai posted a chart highlighting SOL’s potential gains.

Continued broad market surges will support Solana’s stability above $180 to validate the bullish trajectory.

Altcoins display bullish strength as Bitcoin’s dominance dwindled after BTC’s rally to all-time highs last week.

Solana remains poised among the top alts to watch in the prevailing bull runs.

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BlackRock moves to add staking to Ethereum ETF amid surge in inflows

  • BlackRock seeks to enable staking in its ETHA fund, aiming to boost returns and efficiency for investors.
  • ETH ETFs see $726M in daily inflows, with BlackRock’s ETHA leading at nearly $500M, amid rising demand.
  • SEC openness to staking ETFs grows, following approval of the first Solana staking fund and increasing industry filings.

BlackRock has filed to incorporate staking into its iShares Ethereum Trust (ticker: ETHA), the largest Ethereum exchange-traded fund (ETF) by assets under management.

The move, disclosed in a filing with the US Securities and Exchange Commission (SEC) on Thursday, follows growing institutional interest in Ethereum staking products and comes amid record-breaking net inflows into ETH ETFs.

The filing was submitted by Nasdaq under SEC Rule 19b-4, which national securities exchanges follow to propose new fund structures.

BlackRock is the latest asset manager to pursue staking capabilities for its Ethereum fund, joining a competitive field that includes Grayscale, 21Shares, and others with similar proposals already in the pipeline.

BlackRock’s filing outlines that the trust may stake “all or a portion” of its ETH holdings through one or more trusted staking providers.

The proposal specifies that the ether held by the trust will not be pooled with other entities, nor will the trust assume risk on behalf of others from slashing or network forks.

Coinbase, currently acting as custodian and prime execution agent for ETHA, is expected to serve as the fund’s staking partner.

Record ETH inflows signal demand

The filing comes at a moment of surging interest in Ethereum investment products.

On Wednesday, ETH ETFs recorded their highest single-day net inflow since launch, totaling $726.74 million, with BlackRock’s ETHA accounting for $499 million of that sum.

So far in July, ETH ETFs have attracted over $2.27 billion in net inflows, marking the strongest monthly inflow to date, according to data from SoSoValue.

ETHA was approved in July 2024, as part of a group of spot Ethereum ETFs greenlit by the SEC shortly after it approved the first spot Bitcoin ETFs earlier in the year.

ETHA currently holds over $7.9 billion in assets, underscoring BlackRock’s leadership position in Ethereum-based exchange-traded products.

BlackRock’s Head of Digital Assets, Robert Mitchnick, has previously signaled that staking would be the “next phase” for crypto ETFs.

Thursday’s filing appears to make that vision concrete, at a time when regulatory momentum and investor interest are aligning.

Staking ETFs enter regulatory spotlight

BlackRock’s move comes shortly after the SEC approved the REX-Osprey Solana Staking ETF, the first US-based staking ETF, earlier this month.

That product was approved under the more stringent Securities Exchange Act of 1940.

In contrast, BlackRock’s ETHA staking proposal falls under the Securities Exchange Act of 1934, under which no staking ETF has yet been approved.

However, SEC officials have indicated growing openness to staking ETFs.

Bloomberg ETF analyst James Seyffart noted on X (formerly Twitter) that “staking is not done,” predicting that approval for Ethereum staking ETFs may arrive as early as Q4 2025.

While BlackRock’s latest filing may not receive a final decision until around April 2026, the broader outlook for staking products appears favorable.

As Ethereum’s price hovers near $3,399—still below its 2021 all-time high of $4,878—the prospect of yield-generating, regulated staking products could further fuel institutional adoption.

With competitors also eyeing staking ETFs for assets like Cronos, Tron, and Injective, BlackRock’s move signals an increasingly diverse crypto ETF landscape taking shape.

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