Schlagwort: crypto markets

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BONK price: bulls defend key level as Solana meme coins heat up

  • Bonk (BONK) price hovers above a key level after bulls gained 7%.
  • Pudgy Penguins (PENGU) had briefly overtaken Bonk as the top Solana-based meme token by market cap.
  • Analysts say BONK could explode higher amid overall memecoin resurgence.

Bonk (BONK) and Pudgy Penguins (PENGU) are in a battle for top spot among Solana-based meme tokens.

At the time of writing, Bonk was surging 7% in the past 24 hours to just reclaim the throne with a market cap of over $2.71 billion.

Pudgy Penguins, which had exploded double digits amid spot exchange-traded funds news and Binance seed tag removal, tailed a close second with $2.69 billion in market cap.

The rally for PENGU, which briefly saw it overtake Bonk as top Solana meme, came as other ecosystem tokens like dogwifhat and Popcat recorded upside flips.

BONK, PENGU price surge helped by Binance lifting tag seed

While memecoins have recently exploded amid a broader altcoin rally, BONK and Pudgy Penguins have benefited from an announcement by Binance. 

On July 21, 2025, the leading crypto exchange posted an update that indicated Binance will remove the Tag Seed for BONK, EIGEN, ETHFI, PENGU and PEPE.

“Tokens with the Seed Tag represent new, innovative projects that may exhibit higher volatility and risks compared to other listed tokens,’ Binance explained. 

By removing the tokens from the list of those tagged as high risk, Binance helped to bolster not just trader confidence, but also enhanced liquidity support. The move also catalyzes increased visibility for the tokens, likely why PENGU, BONK and the other projects exploded.

Pudgy Penguins’ community reacted to ETF filing news in style and crypto analyst Ali Martinez had this to say:

“Pudgy Penguin $PENGU: Top-tier memecoin with mainstream crossover. ETF filing puts it in rare company.”

The meme coin briefly surpassed BONK in market capitalization, and could yet establish itself there unless BONK fights back.

BONK price: bulls look to defend key level

BONK’s price is up just 6% in the past 24 hours and 9% in the past week. However, with bulls looking to defend a critical support level around $0.00003485, the fight to fend off Pudgy Penguins’ push is on.

Currently, BONK is consolidating between support at $0.00003 and the supply zone at $0.00004.

Analysts are optimistic that BONK holding above the current demand zone could allow them to target November 2024 highs. This is the area of Bonk’s all-time high above $0.000059. BONK’s resilience and community support, with open interest up 2.69% to over $55 million.

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XRP price staggers as Ripple moves 200 million tokens

  • XRP briefly surpassed McDonald’s in market cap following its recent price surge.
  • XRP price has dropped 5% after hitting a new high of $3.65.
  • Ripple has moved 200M XRP from a 2020 wallet in a third massive transfer.

Notably, after an impressive 500% surge since July 2024, XRP briefly outshone corporate giants like McDonald’s and American Express in market capitalisation.

However, recent movements by Ripple have introduced uncertainty, causing the XRP price to drop nearly 5% from its record high of $3.65 and settle around $3.45 at press time.

Ripple moves massive XRP from old wallet

In a move that has caught the attention of both investors and blockchain analysts, Ripple recently transferred 200 million XRP (worth approximately $700 million at the time) from an old wallet created in 2020 to a newly activated address.

Blockchain tracking platform Whale Alert was the first to flag the massive transaction, sparking a wave of speculation across the crypto community.

This was not an isolated case. According to XRP Liquidity (Larsen/Britto/Escrow/ODL/RLUSD), this is the second large transaction of similar size in just three days.

Notably, each of these transfers involved 200 million XRP, all executed from Ripple-controlled wallets and routed to fresh, unidentified addresses.

The emptied wallet had been dormant for years, further intensifying curiosity about Ripple’s motive behind the sudden movements.

XRP price dips after new all-time high

The timing of these transactions coincided with XRP’s retracement from its newly reached high of $3.65.

The token had recently touched this mark twice in the past week, once on Friday and again on Monday.

However, following the latest wallet movement, XRP’s price slipped to a low of $3.44, creating questions about the stability of its ongoing rally.

XRP price pullback

The price dip could be a short-term response to perceived selling pressure, even though there is no direct evidence that Ripple has sold the tokens.

Many believe the XRP transfers by Ripple could be strategic, possibly for liquidity management, staking preparation, or institutional onboarding.

However, for traders, large transfers often signal potential market volatility.

What’s next for XRP?

Despite the short-term price correction, XRP’s long-term outlook remains optimistic.

The fundamentals supporting its growth — regulatory clarity, institutional adoption, and market legitimacy — are still intact.

Ripple’s massive wallet transfers may create momentary doubt, but they also suggest internal restructuring and strategic allocation rather than market exit.

For traders and investors, the key question now is whether XRP can stabilise above the $3.40 range and push toward reclaiming its $3.65 high.

The current market conditions, shaped by both internal blockchain activity and broader macro developments, will play a pivotal role in determining the next leg of XRP’s journey.

As the crypto market continues to evolve, XRP remains one of the most closely watched digital assets.

Its ability to hold momentum amid large-scale movements and shifting sentiment will likely define its performance in the months ahead.

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POL price rises as Polygon USDC transfers surge amid its returns to the US

  • Polygon (POL) price jumps as Polymarket returns to the US.
  • USDC micro-transfers on Polygon are up 141%.
  • Polygon is expanding its stablecoin and real-world asset ecosystem.

Polygon’s native token, POL, is showing fresh signs of life as the network sees a major resurgence in activity. The token has risen 7% over the past week and by 14% over the past two weeks.

This resurgence reflects a larger shift within the Polygon (POL) ecosystem as it positions itself at the forefront of real-world blockchain use cases.

With a strategic focus on stablecoin payments and institutional engagement, Polygon’s resurgence could mark the beginning of a new growth cycle.

Polymarket has secured a US return through QCEX acquisition

Polygon-linked prediction market Polymarket has reentered the US market by acquiring QCEX, a licensed derivatives exchange, in a $112 million deal.

This acquisition follows the closure of regulatory investigations by the Commodity Futures Trading Commission (CFTC) and the US Department of Justice, clearing the way for Polymarket to resume operations on American soil.

Following news of Polygon-backed Polymarket’s legal return to the United States on July 21, the price of POL surged by 10%, reaching a high of $0.2630.

Notably, Polymarket’s US comeback is a critical development. It not only restores access to the world’s largest financial market but also signals broader regulatory acceptance of decentralised prediction platforms.

With regulatory hurdles now behind it, Polymarket is set to become a major player in the burgeoning space of on-chain prediction markets.

Founder and CEO Shayne Coplan emphasised that the platform’s return aims to bring compliant crypto predictions back to American users, a move expected to increase demand for Polygon’s infrastructure and token, especially as transaction volumes climb.

USDC transfers on Polygon skyrocket

While Polymarket’s regulatory breakthrough has drawn headlines, the surge in stablecoin activity on Polygon is equally noteworthy.

According to recent data, small USDC transfers on Polygon (transactions under $1,000 have soared by 141% since the beginning of the year.

According to data compiled by Peter Liem, an analyst at Polygon Labs, the network now handles more of these micro-payments than Solana, reflecting its growing role in the global stablecoin economy.

According to a recent report by Polygon, the total stablecoin supply on Polygon has crossed $2.8B.

Rising transaction fees on rival networks like Tron have driven users to seek alternatives, and Polygon has emerged as a top choice.

While Tron still dominates in overall stablecoin volume, according to a recent report, its fees have more than doubled, making it less viable for everyday payments.

In contrast, USDC transfers on Polygon cost only a fraction of a cent, offering a compelling advantage for users in developing economies.

In countries like Argentina and Brazil, where inflation has devalued local currencies, the low-cost, high-speed nature of Polygon has made it the preferred blockchain for stablecoin use.

These countries now account for a large share of the $562 million in USDC micro-transfers processed on Polygon in June alone.

Polygon is positioning itself for real-world utility

Beyond payments and predictions, Polygon is continuing to enhance its technical foundation.

The network’s Heimdall v2 upgrade, recently rolled out, aims to improve stability and reduce blockchain reorganisations.

Meanwhile, new infrastructure such as the Katana chain is designed to increase bandwidth for high-volume applications like decentralised finance and digital payments.

Polygon Labs is also building an ecosystem tailored for real-world assets (RWAs), including tokenised government bonds and stablecoins.

A dedicated 14-person team has been deployed to scale these efforts, reflecting the network’s commitment to driving adoption beyond speculation.

These moves align with the broader industry trend of integrating blockchain into traditional financial systems.

Financial institutions such as JPMorgan, Citigroup, and Bank of America are reportedly preparing to include stablecoins in their products.

With USDC gaining ground globally and Polygon proving itself in micro-payments, the chain is poised to capture institutional interest alongside retail growth.

Polygon (POL) price set to rise on investor optimism

In response to these developments, the Polygon (POL) token has attracted bullish sentiment from traders.

Its price has steadily climbed over the past week, mirroring rising trading volume and renewed market attention.

Although POL remains far below its all-time high of $1.29 set in March 2024, current activity suggests that investor confidence is returning.

Eyes are now on whether Polygon (POL) can sustain this momentum, with a target at the $0.50 to $0.80 range in the coming months if adoption trends continue and the broader crypto market remains stable.

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Analysis: Tapiero ups crypto forecast to $50T; Compass Point downgrades Circle on valuation

  • Investor Dan Tapiero merges his firms into a new brand, “50T,” reflecting a $50 trillion crypto market forecast.
  • Tapiero says the crypto ecosystem is already at $5T, “far exceeding” his initial 10-year, $10T thesis from 2020.
  • Circle (CRCL) stock fell up to 8% after Compass Point downgraded it to “Sell,” citing valuation and competition.

Prominent digital asset investor Dan Tapiero is making a bold statement about the future of the crypto economy, merging his private equity firms 10T Holdings and 1RoundTable Partners under a new, ambitious brand: 50T.

This rebranding reflects his forecast that the digital asset ecosystem will explode in value to reach an astonishing $50 trillion within the next decade.

The announcement comes alongside the launch of a new $500 million fund and as one of the firm’s successful portfolio companies, Circle, faces new scrutiny from Wall Street after its recent meteoric stock market debut.

A natural evolution: from a $10 trillion to a $50 trillion thesis

The creation of the 50T brand is more than just a name change; it represents a significant upward revision of Tapiero’s long-term market outlook.

“50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years,” Tapiero explained in a Tuesday press release.

He noted that the market has far outpaced his initial projections. “Today, we estimate that we’re already at $5 trillion, far exceeding our initial timeline, which is why we’re adjusting our outlook upward,” he said.

Tapiero pointed to recent successes in the industry, such as the blockbuster IPO of stablecoin issuer Circle and the acquisition of crypto derivatives exchange Deribit by Coinbase, as clear evidence of the sector’s growing maturity.

“Recent successes like the Circle IPO and Deribit acquisition demonstrate the maturity of this sector and validate our investment thesis that all value will eventually move on-chain,” he stated.

Funds under what is now 50T were early investors in Circle, Deribit, and the digital trading platform eToro, which also recently went public.

The press release added that other portfolio companies are also gearing up to go public.

Coinciding with the rebrand, 50T is also launching a new $500 million growth equity fund, aptly named the 50T Fund.

It is a closed-end fund with a ten-year investment horizon, specifically designed to back later-stage companies that are building out the core infrastructure for blockchain and Web3.

The fund is planning its first close in the fourth quarter of 2025.

A reality check for circle: analyst downgrade hits surging stock

While 50T celebrated Circle’s IPO as a sign of market maturity, the stablecoin issuer’s stock (CRCL) faced a dose of Wall Street reality.

Shares of Circle, the public issuer of the USDC stablecoin, shrank by as much as 8% on July 22 after investment firm Compass Point downgraded the stock from “Hold” to “Sell.”

The downgrade was driven by valuation concerns and the prospect of increased competition in the digital asset market. At the time of the report, CRCL was trading at $199.24, down 7.80% for the day.

Compass Point also slashed its price target on Circle to $130, down from a previous target of $205, suggesting a significant pullback could be in the cards after the company’s spectacular post-IPO run. Since its launch on June 5, Circle’s stock has surged over 500%.

This incredible growth has been fueled by an energized market environment, partly spawned by the introduction of the GENIUS Act.

This legislation, signed into law by President Donald Trump, created a much more transparent regulatory framework for fiat-backed digital assets, legitimizing stablecoins and giving investors ample reason to be optimistic.

However, Compass Point analyst Ed Engel cautioned that this rally may be unwarranted. “Crypto investors often ‘sell the news’ following major legislative wins,” said Engel, as reported by TheStreet.

He added that CRCL has experienced such a dramatic run-up that a significant backtrack is possible. He also commented on the “inevitable margin pressure” that Circle will face from increased revenue-sharing payments to its distribution partners, as well as the incoming competition from traditional banks and fintech companies that are now establishing their own stablecoins.

Circle’s revenue is primarily derived from the interest earned on its short-term Treasury holdings that back the USDC stablecoin.

Analysts are also mindful that potential changes in the returns on these Treasuries, resulting from shifts in the Federal Reserve’s monetary policy, could impact the company’s bottom line.

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Pump.fun’s PUMP token drops below presale price, whales dump $160M to exchanges

  • Pump.fun token has dropped 43% from ATH and risks deeper fall to $0.0024.
  • Airdrop delays are likely the key causes of the price drop.
  • Whales have moved their holding to centralised exchanges, causing sell-off fears.

Pump.fun’s PUMP token has plunged below its highly publicised presale price, sparking concerns of a broader sell-off and sending ripples across the memecoin market.

The steep drop comes just days after the project raised hundreds of millions in minutes, only to face heavy sell pressure and waning community confidence.

The token initially surged after its debut but has since lost momentum.

The early excitement has given way to anxiety, as large investors begin offloading their holdings en masse.

Whales offload $160 million worth of PUMP tokens

Two major wallets identified as early private sale participants have collectively moved over $160 million in PUMP tokens to centralised exchanges.

This large-scale movement, flagged by blockchain analytics firm Lookonchain, has intensified fears of an extended price correction.

The first wallet, labelled “PUMP Top Fund 1,” purchased 25 billion tokens for $100 million in USDC during the private sale.

Over the past week, it has sent 17 billion tokens worth nearly $90 million to exchanges, although it still holds a position worth roughly $29.5 million.

The second whale, tagged as “PUMP Top Fund 2,” acquired 12.5 billion tokens for $50 million and has now completely exited, transferring the full amount — then valued at over $71 million — to exchange wallets.

Pump.fun token has slipped below ICO price

After an initial post-ICO rally that saw the token rise by 72%, PUMP is now trading well below its launch price.

At the time of writing, the token was hovering near $0.003789, marking a 9.2% drop from its ICO price of $0.004 and a staggering 81.45% fall from its all-time high of $0.006888.

Technical indicators suggest the asset may fall even further, with $0.003639 acting as the next key support level, which aligns with previous accumulation zones.

Failure to hold above this support could trigger an even deeper selloff.

Pump token price

Notably, the token’s recent inability to reclaim the $0.004 resistance zone has confirmed a bearish setup.

The steep drop has been accompanied by declining buyback volumes from Pump.fun, with on-chain data showing just $125,000 in buybacks on Sunday, down from nearly $19 million on launch day.

Broader memecoin market has cooled off

While PUMP’s troubles are significant on their own, they also reflect a broader shift in sentiment across the memecoin sector.

On July 21, the total memecoin market cap peaked at $87 billion, up from $55 billion just weeks prior.

However, that was followed by a sharp pullback to $81 billion today.

Despite a partial recovery to around $82 billion, the volatility may signal capital rotation or a potential cooling of the recent memecoin frenzy.

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