Track market-moving stories before they get noisy

Bitcoin on its way back to $10,500 as the market records mixed signals

Crypto News From Asia: Sept. 9–15

Posted: February 5, 2020

Bitcoin finally pushed past its $9k resistance this past week and the world’s largest cryptocurrency was trading at $9,277, at press time. However, there is growing evidence that Bitcoin is reacting to geopolitical events, according to the Coin Metrics’ latest report. The report added,

“Adjusted transfer value increased by at least 20% for all five cryptoassets in our sample, outpacing the increases in market cap. Bitcoin Cash’s (BCH) adjusted transfer value is relatively even with Ethereum’s (ETH) — over the past week, BCH had a daily average of $217M adjusted transfer value while ETH had $234M.”

Further, Bitcoin‘s transfer value dwarfed Ethereum and Bitcoin Cash’s with a daily average of $11.9 billion.

The market ended the week on a strong note, however, the growth of the CMBI Bitcoin Index was the weakest of all other indexes. According to the aforementioned report, the Bitcoin index reported returns of 9%. However, small-cap assets are leading to the growth of the entire market.

The report also noted that Bletchley 40 assets noted a 16% surge, while MonaCoin, ZCoin, and BitShares posted returns of over 50%. Additionally, Siacoin, Zilliqa, and Nano registered returns of 20% to its users too.

The week was, in fact, an extension of an eventful month the crypto-market has had. Crypto-assets have been largely positive and the Bletchley 20 [mid-cap assets] were reported to be the best performers. The mid-cap assets returned 70% in a month, while large-cap and small-cap assets were tied with ~35% returns over the month.

Source: Coin Metrics

XRP’s active addresses noted a whopping rise of 178.2% over the week, followed by Litecoin’s minuscule 15.4%. XRP transfers also saw a 32.6% surge, with Bitcoin cash [BCH] noting a 13.8% increase.

The market cycles of this year have gone through multiple twists and turns. High levels of sentiment shifts have been witnessed since the first quarter. The crypto market reached new highs earlier this year, but in October, a bearish mood made a comeback. However, now that Bitcoin has once again passed the $90K mark, confidence has returned. Long-term holders are, therefore, making strategic moves.

Investing in FUNToken is part of that strategy since it has faced the brunt of the market’s volatility. After experiencing one of its strongest rallies this year, it moved down in value. However, since the bullish mood has returned to a degree, the FUNToken price is surging once again. It has risen by over 15% in the last 24 hours, and now is the time to ask if it can recapture the rally it experienced in early 2025.

FUNToken Price Action of March 2025 In March 2025, FUNToken experienced a price decline for the first 10 days before bulls came in force to push the token’s price toward a sideways trend. As a result, FUNToken started trading within the $0.0015 to $0.0026 range.

🚀 Everything $FUN, one tap away!

💰 Live price → /price
📊 Your balance → /balance
🎯 Referral rewards → /referstats

All inside the $FUN Bot 👉🏻 https://t.co/XyQr6UDSvf#FUNToken pic.twitter.com/jRpjMQia15

— FUNToken (@FUNtoken_io) November 27, 2025

Later, this trend proved to be an accumulation zone because, on March 28th, the P2E crypto painted multiple long green candles. Although profit-takers did emerge, bulls were stronger, which led the FUN price to rise by close to 400% and reach the $0.10 level.

FUNToken’s Current Price Action: A Similar Setup is Building FUNToken’s earlier price action led to a triple-digit increase in its value, and since then, the crypto community has eagerly waited for an encore. Given today’s price action, it is safe to say that a similar pattern has started to develop.

However, FUNToken has not been completely insulated from market shortfalls. Macroeconomic conditions caused its previous sideways trading range between $0.008 and $0.009 to break down, which was followed by an 82% price drop. However, clever tokenomics and social media events have put FUNToken back into the limelight, causing a narrow trading range between $0.0021 and $0.0023 to appear. Since November 23, the crypto has bounced from that level, creating a pattern similar to the previous one.

At the time of writing, FUNToken is trading around the $0.0025 level and has a market capitalization of more than $27 million.

Difference Between the Two Charts FUNToken’s earlier surge was due to the sudden traction it gained following the broader crypto market’s rise in momentum.

This time, however, this leading meme coin with P2E elements is being discussed because of its recent event as well as its social perks. The social media attention surrounding the token is pushing long-term holders to accumulate the asset at familiar price levels.

In addition to the event, FUNToken has also launched its own bot on Telegram. This bot allows users to check the live price of their chosen asset, view their balance, and receive referral rewards. With this new layer of social utility added through the bot, the community expects the FUN price to retain its momentum.

🚀 Everything $FUN, one tap away!

💰 Live price → /price
📊 Your balance → /balance
🎯 Referral rewards → /referstats

All inside the $FUN Bot 👉🏻 https://t.co/XyQr6UDSvf#FUNToken pic.twitter.com/jRpjMQia15

— FUNToken (@FUNtoken_io) November 27, 2025

Can the FUN Price Do an Encore? While there is no expectation for the market to behave exactly as it did before, the repeatable patterns forming around FUNToken are largely due to FUN gaining more traction on social media and being covered by major publications. Its unique use cases involving staking and the Telegram bot have also sustained ongoing conversations around the asset. If macro economic conditions become more positive, the FUN price could repeat the pattern and surge by triple digits once again.

Final Thoughts It is clear from the price charts that FUNToken is on the verge of delivering an encore and following its previous surge. The last time this pattern appeared, early holders were able to secure triple-digit gains in the months that followed. Today, however, while the overall mood is similar, the significance is much higher. FUNToken is no longer a token flying under the radar; it has a strong social media presence. Added to that, the social events and the recent trading bot are helping it gain even more traction.

A high level of growth could emerge. However, how large it will be and how long the rally will last will depend on the community’s receptiveness to FUNToken’s offerings. And from the looks of it, the future of this meme coin appears brighter.

Bitcoin (BTC) is looking more like a safe-haven asset amid the financial wreckage caused by President Donald Trump’s tariff rollouts, according to the digital asset investment management firm NYDIG.

Greg Cipolaro, the global head of research at NYDIG, notes in a new analysis that Bitcoin demonstrated some decoupling with equities, US Treasuries and the dollar last week.

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“Geopolitical tensions, including tariffs, remain topical (despite Trump walking back many of them), but political pressure from Trump on Fed Chair Powell, and even speculation about his potential dismissal that added to market unease. In many ways, this is exactly the kind of environment where Bitcoin should shine. 

The decoupling from traditional risk assets is still very early and fragile, but for those watching crypto markets 24/7 (guilty), the shift is palpable. That said, we haven’t yet seen confirmation in the data. Our preferred correlation measure — a 90-day rolling window — currently shows rising correlations between bitcoin and US equities.”

Cipolaro argues that wavering faith in US policy choices has diminished the status of the US dollar and US Treasuries as safe-haven assets.

“What is interesting to us is that since ‘Liberation Day’ on April 2nd, a new picture of haven assets is starting to emerge, one which includes bitcoin. Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is.”

Bitcoin is trading at $95,205 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours.

Generated Image: Midjourney

The American State of Missouri is set to implement a crypto tax rule that will positively impact Bitcoin (BTC), Ethereum (ETH), XRP, and other top-risk assets. This unique move will also impact stocks as the State seeks to become one of the most friendly places for crypto firms to do business. Notably, it comes when many states consider holding Bitcoin as a strategic reserve asset.

Crypto Tax: Missouri Sets New Pace for Bitcoin As reported by Fortune, it is worth noting that the State’s lawmakers have passed the Bill to enshrine this exemption. It has now been sent to Governor Mike Kehoe for final approval. This Bitcoin tax Bill secured only Republican support despite 10 Democrats voting “Present” at plenary this past Wednesday.

If signed into law, an estimated $430 million will be cut from State revenue as the law takes effect this year. The primary concern for Democrats is the shortfall in State funding, which will affect the budget. On the positive side, investors will benefit from the crypto tax allowance as they can hold their assets for much longer.

Many States in America are exploring ways to gain the upper hand in adopting digital currencies. Earlier this week, New Hampshire adopted BTC as a reserve asset after Governor Ayotte signed Bill HB 302 into law.

Under this provision, 5% of the State’s treasury funds can be invested in Bitcoin. Notably, any asset with a market capitalization above $500 billion may also benefit.

Crypto Gaining Traction In the US The digital currency ecosystem is gaining significant traction, fueling the favorable consideration of Bitcoin and crypto tax laws. While states are championing new Bills to drive Bitcoin and crypto adoption, the focus is on regulation in DC.

Despite announcing a strategic crypto reserve, much has not been said in this regard. What is visible to the industry is the pivot by national regulatory agencies toward the nascent asset class. Although the Internal Revenue Service (IRS) has not given new guidance on Bitcoin and crypto tax, the OCC and Federal Reserve have withdrawn guidance restricting banks from engaging in digital currency activities. 

This makes the Missouri Bitcoin tax move a strategic one. While the exemption might benefit investors in the short term, it may also attract new crypto companies to the state. This will ultimately position the State to benefit in other key areas in the long term.

With this pioneering move, other States may follow Missouri in the quest to become a Bitcoin tax haven.

Gold and its cryptocurrency derivatives surged Thursday night as investors sought refuge in the safe haven following Israel's strikes on Iran.

What happened: Spot gold was up 1.20% to $3,427.51 per ounce as of this writing, its highest level in more than a month. Gold futures on the Commodity Exchange were up 1.63% to $3,457.70.

The latest spike extended the yellow metal's year-to-date gains past 30%.

The gains flowed down to physical gold-backed cryptocurrencies, causing similar increases in Tether Gold and PAX Gold.

The two coins also extended their year-to-date gains past 30%, becoming one of the most valuable cryptocurrency investments in 2025.

These returns contrasted with the drop in heavyweights like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were down 3.38% and 8.91%, respectively, as of this writing.

Renowned gold bug Peter Schiff contrasted gold's rise with Bitcoin's decline, calling into question the apex cryptocurrency’s widely touted safe-haven narrative.

"How can anyone consider Bitcoin to be a digital version of gold?," he asked.

Read Next: 

Trump Family-Backed Bitcoin Mining Firm Mines $23 Million Worth Of BTC, Signals More Accumulation In The Future Image via Shutterstock

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Ledn CSO Explains How Bitcoin-Backed Loans Can Help the Middle Class Escape Inflation

According to Arkham Intelligence, the US government still holds more than 198,000 Bitcoin. That’s around $23.4 billion sitting in digital wallets across several agencies.

A recent public spreadsheet showed just 28,988.356 BTC under the Marshals Service. But looking at FBI, IRS, DEA and Justice Department seizures makes the total jump far higher.

Government Stash Spread Across Agencies Based on reports from the Marshals Service, 28,988.356 BTC—worth roughly $3.45 billion—has been under its control since July 15, 2025.

Other agencies don’t share that data publicly. They manage coins from crime probes and prize auctions. Arkham gathered on‑chain data and linked addresses tied to each agency. When added, the total hits at least 198,012 BTC.

DID THE US GOVERNMENT JUST SELL 170,000 BTC ($20 BILLION)?

No. This Freedom of Information Request response from the US Marshals Service (USMS) cites them as holding 28,988 BTC ($3.4B), but other departments of the US Government also seize and hold Bitcoin, including the FBI,… https://t.co/8kpjwyKcT9 pic.twitter.com/uB7EejUCVz

— Arkham (@arkham) July 23, 2025

In everyday terms, that means the US is a massive bitcoin “whale” that still owns about 198,000 BTC. It’s not just sitting at the Marshals Service.

The rest is spread out in hidden pockets. Those coins haven’t moved in the last four months. Traders who saw only the Marshals number panicked.

Senator Cynthia Lummis even warned it would be a “total strategic blunder” if the reserves really fell below 30,000 BTC.

Arkham: The US Government currently holds at least 198,000 BTC ($23.5B) across multiple addresses held by different government arms. None of this has moved for 4 months. pic.twitter.com/nhWWeWqhmh

— Wu Blockchain (@WuBlockchain) July 24, 2025

Big Cases Make Up Most Holdings A huge chunk—114,599 BTC—came from the 2016 Bitfinex hack case against Ilya Lichtenstein and Heather Morgan. That haul alone counts for more than $13.65 billion.

Silk Road‑related seizures add about 94,643 BTC. That breaks down into 51,680 BTC from James Zhong’s theft and 69,370 BTC linked to another hacker, sometimes called “Individual X.”

BTCUSD now trading at $118,106. Chart: TradingView Other cases help pad the total. Arkham spotted $81.25 million in BTC taken from Alameda Research’s Binance accounts after FTX collapsed.

Another $79.50 million came from HashFlare scammers Sergei Potapenko and Ivan Turogin. Even small hits like 58.7 BTC from Ryan Farace’s case show up in the chain records.

Sales Haven’t Touched Core Supply The US sold 9,861 BTC worth about $215 million in March 2023 from the Zhong case. In August 2024, another 10,000 BTC went for $594 million.

Then in December 2024, 10,000 BTC sold for roughly $968 million. Despite that activity, the main piles from Bitfinex and Silk Road haven’t moved. Those coins still sit where seizing agencies left them.

Without a single public ledger, each new FOIA release sparks fresh rumors. Some traders jumped at the Marshals figure and drove prices up or down on the news.

But knowing the real 198,000 BTC figure could calm that. A master dashboard, updated in near real time, would help cut the drama when auctions roll around.

Featured image from Getty Images, chart from TradingView

Investors woke up yesterday to some serious on-chain fireworks.

Whales snapped up a staggering $161K Bitcoin Hyper ($HYPER) and $105K TOKEN6900 ($T6900) in one day.

That’s a 265K thunderclap landing in presales just as Ethereum popped above $4.5K for the first time since 2021.

It’s the sort of moment that makes wallets sweat, and watch out for runaway trains.

If you’ve been itching for some meme-coin mania or to ride the next wave of the best altcoins to 10x after Ethereum’a $4.5k rally, this might be your ticket.

Let’s zoom out, sniff the market, and spotlight three presales that just might light up your portfolio.

The Market Context Ethereum’s push beyond $4,5K has shifted the market’s tone.

Source: CoinMarketCap Traders are scanning for new crypto projects that could deliver 10x returns. The excitement is feeding into crypto presales, where lower entry prices are tempting buyers before tokens reach exchanges.

Whale purchases of $161K Bitcoin Hyper ($HYPER) and $105K TOKEN6900 ($T6900) in one day are adding fuel to the optimism, suggesting that large investors see strong upside potential.

This mix of price action, fresh capital, and growing retail interest is stirring a sense of FOMO across the market.

As more money flows into early-stage projects, the next wave of high performers could be forming right now – setting the stage for a busy and potentially lucrative season for altcoin hunters.

1. Bitcoin Hyper ($HYPER) – Bitcoin Layer-2 with Meme Energy Bitcoin Hyper ($HYPER) is the presale token behind the fastest Bitcoin Layer 2, running on the hyperefficient Solana Virtual Machine (SVM).

This setup delivers sub-second transactions, near-zero gas fees, and full compatibility with the Solana ecosystem. With this upgrade, Bitcoin gains the scalability needed for high-speed payments, meme coins, dApps, and DeFi.

The platform serves as an execution layer where assets can move across Bitcoin, Ethereum, Solana, and other chains without delays.

Developers, traders, and community builders can launch projects and transact with Bitcoin at speeds that now make everyday $BTC use practical.

$HYPER powers every part of the network – from transactions and staking to governance and launch access.

Early participants can earn staking rewards of up to 119% APY and gain priority for airdrops and token launches.

You can buy $HYPER for $0.01267 in the presale, which has already raised over $9M, showing strong early interest.

Yesterday’s whale purchase of $161K worth of tokens adds weight to the growing momentum, especially alongside Ethereum’s climb past $4,5K.

Market attention is shifting to projects that combine real utility with cultural relevance, and Bitcoin Hyper is right at that intersection.

2. TOKEN6900 ($T6900) – Meme Coin That’s Taking no Prisoners TOKEN6900 ($T6900) has quickly become one of the loudest meme coins on the market, raising nearly $1.9M in its presale, with each token priced around $0.00695.

A significant 80% of the total supply is available before launch, capped at $5M, creating a fair entry point for the community.

Branded as the ‘standard for brain-rot finance,’ TOKEN6900 rejects the pretenses of traditional finance.

There’s no roadmap, no promises, and no fake utility – just pure meme-fueled liquidity.

Inspired by early 2000s internet culture, the project is themed as a parody of the S&P 500 and SPX6900, but with one extra token in supply.

Its appeal lies in its honesty. It doesn’t track markets, GDP, or oil reserves – it thrives on collective delusion as a feature, not a flaw. Investors aren’t here for fundamentals; they’re here for the cultural moment.

Yesterday’s whale buy of $105K shows that even large holders are willing to back a project built on community momentum. $T6900 is feeding the current wave of speculative energy head-on.

3. Arctic Pablo ($APC) – A Mythical Meme Coin with Real Mechanics Arctic Pablo ($APC) combines meme coin culture with an ongoing adventure narrative.

The project’s presale price is currently $0.0008, with over $3.37M raised so far. It has reached its 36th presale stage, known as Horizon Haven, and is aiming for a listing price of $0.008.

Each stage represents a new chapter in Pablo’s journey, and the tokenomics include a weekly burn of unsold tokens to increase scarcity. The total supply is capped at 221.2B tokens.

Early backers can access staking rewards of 66% APY during the first two months after launch, adding a yield component to the presale.

This approach blends community engagement with a structured rollout.

Recent whale activity in Bitcoin Hyper and TOKEN6900 shows there’s an appetite for early-stage projects with strong narratives and active presale performance.

Arctic Pablo is benefiting from the same market sentiment. With Ethereum trading above $4,5K and investor interest in meme coins growing, the project’s mix of storytelling, staking, and scarcity is attracting attention ahead of its exchange debut.

Riding the Whale Wave Whale buys in Bitcoin Hyper and TOKEN6900 show where big money is moving as Ethereum’s rally pushes sentiment higher.

Arctic Pablo is also drawing attention, fueled by its narrative-driven presale and strong community momentum.

Together, these projects cover the spectrum from high-speed Layer-2 tech to pure meme energy and story-backed scarcity. In a market charged with FOMO, options like these are set to go off.

This is not financial advice. Always do your own research (DYOR) before investing in crypto.

Cover image via www.flickr.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Prominent Silicon Valley investor Tim Draper has addressed his failed $250,000 Bitcoin price predictions during his Monday interview on CNBC. 

"So, I've been predicting $250,000 for Bitcoin for a long time. It turns out I haven't been right yet," Draper said, bursting out in laughter. 

Nevertheless, Draper claims that the fact that Bitcoin is already halfway there is "very exciting."  

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He insists that Bitcoin is a "hedge" against bad governance, arguing that now is actually "a really good time" for the bellwether token.

Uber-bullish price target Draper, who made his massive fortune with early bets on such names as Skype and Hotmail, was also among the first prominent investors to embrace Bitcoin. In 2014, he bought tens of thousands of Bitcoins that were auctioned off by the US Marshals Service after being confiscated from darkweb marketplace Silk Road. 

In 2014, Draper predicted that Bitcoin would hit $10,000 within three years with extreme accuracy. 

However, his next bullish target was a huge miss. Draper first stated that Bitcoin would be able to reach $250,000 within four years back in April 2018. He would then repeatedly reiterate that prediction throughout the years.   

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By the end of 2022, Bitcoin was trading at just $16,000 amid the FTX-induced market crash. Draper was forced to reset the clock on his ambitious price target several times. 

Most recently, he predicted that Bitcoin would finally be able to reach $250,000 this year, which seems to be rather unlikely considering that the crypto king is currently changing hands at $111,000. 

Bitcoin and Microsoft As reported by U.Today, Bitcoin recently started losing ground to altcoins, including Ethereum (ETH). 

Draper claims that competition is good for Bitcoin, adding that its market dominance is actually higher compared to previous cycles. 

He has reiterated that Bitcoin is comparable to tech behemoth Microsoft in the sense that various novel applications are being ported to the leading network. 

Draper has stated that there is a "gravitational" pull toward the largest cryptocurrency. 

PANews reported on June 4th that Echo Protocol, the Bitcoin infrastructure protocol, announced the full restoration of all its services on Aptos, including lending, strategy, liquidity staking, vault, and other related protocols. The team stated that they have completed a security audit of all contracts deployed on Aptos, focusing on the contracts themselves and administrator permission configurations, and found no potential contract-level risks.

GameFi tokens were the best performers on Sunday as Bitcoin recaptured the important resistance point at $60,000 for the first time since Aug. 14.

Bitcoin (BTC) recovery triggered gains in the crypto industry, with the total market capitalization of all coins rising by 0.8% to $2.2 trillion.

A closer look at the top gainers showed that gaming tokens were the best-performing coins on Aug. 18. Mines of Dalarnia (DAR) token formed a god candle as it jumped to a high of $0.218 — 115% above its lowest level this month. Its surge brought its market cap to over $120 million. 

Its rally happened in a high-volume environment. Data by CoinMarketCap shows that the 24-hour volume rose by over 3,740% to over $398 million. Most of its volume was from Bitrue followed by Binance. Mines of Dalarnia was also one of the most trending tokens in StockTwits. 

Meanwhile, Alien Worlds (TLM), another gaming token rose by 70% to $0.014, giving it a valuation of over $62 million. It has risen by over 120% from this month’s low. 

Gala (GALA) token also rose for the second consecutive day and reached its highest level since Aug. 4. Ronin (RON) rose by over 5% to $1.63.

According to CoinGecko, the total 24-hour volume of all GameFi tokens rose to over $2 billion while the market capitalization jumped to $13 billion. 

Gala, Mines of Dalarnia, Alien Worlds, and Ronin tokens | Chart by TradingView GameFi challenges remain Despite the weekend surge, most gaming tokens have dropped sharply from their all-time high as demand for the sector wanes.

Axie Infinity, once touting a market cap of over $9 billion, has dropped to a valuation of just $715 million. Other tokens like Decentraland, Sandbox, and Gala have shed billions in valuation in the past few years. 

A key concern among users is the volatility of the reward tokens. For example, Smooth Love Potion (SLP), which is used to reward Axie Infinity players, has dropped from $0.3335 in 2021 to $0.029, a 99% drop. 

Tap-to-earn Telegram mini applications — Hamster Kombat, Notcoin, and TapSwap — are accumulating millions of users, further disrupting the industry.

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Solana price is up 36% from its crypto market crash lows — Is $180 SOL the next stop?

Crypto hedge fund Pantera Capital, which has over $5 billion in assets under management, has reportedly seen its Liquid Token Fund appreciate by 66% during Q1 2024.

According to a new report by Bloomberg, Pantera Capital’s $300 million crypto fund ended the first quarter with massive gains due to the rise of digital assets such as smart contract platform Solana (SOL), decentralized derivatives exchange Aevo (AEVO), decentralized finance (DeFi) protocol Ribbon Finance (RBN) and open source blockchain Stacks (STX).

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Pantera’s success partially stemmed from having reduced exposure to Bitcoin (BTC) and Ethereum (ETH) and allocating to smaller market cap altcoins.

In a shareholder letter seen by Bloomberg, it was noted that Pantera cut back on assets linked to Ethereum due to the odds of an Ethereum-based exchange-traded fund (ETF) getting approved by the U.S. Securities and Exchange Commission (SEC) being lowered.

In an interview, Cosmo Jiang, Pantera Capital’s portfolio manager, tells Bloomberg that the fund has been steadily reducing its exposure to Bitcoin since the start of the year.

“We’d been pretty heavy in Bitcoin until the start of the year, and really like each month we’ve decreased that Bitcoin position meaningfully.”

Last month, Pantera engaged in funding efforts to raise $250 million as a means of purchasing Solana from bankrupt crypto exchange FTX.

SOL, AEVO, RBN, and STX are trading for $177.29, $2.96, $1.61, and $3.19 at time of writing, respectively.

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#Breakout2024 – The Year of Radix

THORChain’s RUNE price experienced a 13% rally, catapulting it to the forefront of the market’s gainers. This surge was not merely the result of market whims but rather a strategic play intertwined with Bitcoin’s bullish momentum and a pivotal partnership with Kujira.

Key to the rise is THORChain’s fresh collaboration with Kujira, which improves liquidity and community interaction.

The Kujira collaboration is noteworthy for its community-driven approach to fundraising. Unlike traditional methods, this project empowers the broader community to participate actively, ensuring a more inclusive financial model.

This approach aims to address existing financial challenges and promote stability within both ecosystems, fostering a more resilient DeFi environment.

Partnerships and Integrations Bolster THORChain Price In addition to the Kujira partnership, THORChain has been busy expanding its network through alliances with SwapKit and Noble. These partnerships are crucial for integrating stablecoins into THORChain’s AppLayer, enhancing the platform’s usability and liquidity.

Noble’s role in providing native USDC issuance is particularly key, streamlining the deposit process with single-click functionality and further integrating stablecoins into the THORChain ecosystem.

The partnerships between THORChain, SwapKit, and Noble illustrate a growing DeFi trend where platforms collaborate to boost liquidity, improve user experience, and strengthen financial stability. By tackling current issues and adding new features, these alliances could significantly benefit the RUNE ecosystem’s long-term success.

These strategic moves are indicative of a larger trend within the DeFi space, where collaboration is key to improving liquidity, user engagement, and financial stability. By integrating stablecoin support, THORChain is positioning itself as a more versatile and user-friendly platform in the competitive DeFi landscape.

Bitcoin’s Impact on the Broader Market The current price explosion by THORChain also corresponds with an evident rise in the value of Bitcoin. Bitcoin exceeded the $61,000 barrier on August 13, which set off a strong knock-on effect throughout the crypto market

A surge in trading volumes, reaching approximately $29.2 billion, accompanied Bitcoin’s rise of over 3%. The increase in Bitcoin’s market cap, which grew by 3.14% to $930 billion, has undoubtedly played a role in the bullish sentiment surrounding THORChain and the general market.

The broader crypto market also saw an uplift, with the global market cap increasing by 0.39% to $2.09 trillion.

This narrative of surges, alliances, and data-driven innovations points towards a future where decentralized finance takes center stage, showcasing the power of strategic collaborations and visionary movements in the ever-evolving world of cryptocurrencies.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

Varuni Trivedi

Varuni has been in the web3 space for half a decade, witnessing the changing dynamics of DLT, Blockchain and Web3. With 8 years of journalistic expertise, she has a keen interest in emerging technology and their impact on society. She has published news and on-chain analysis articles on Nasdaq as well as some of the top web3, crypto news firms. Currently, she heads The Coin Republic as the Editor-In-Chief.

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American Bitcoin, backed by Eric Trump and Donald Trump Jr., will begin trading on the Nasdaq next week in the family’s latest move to expand its crypto empire.

The listing, secured through a merger with Gryphon Digital Mining, a publicly-listed BTC miner, fast-tracks the venture’s access to Wall Street capital without the need for an initial public offering (IPO).

As part of the transaction, Gryphon will implement a 5-for-1 reverse stock split to meet Nasdaq’s listing requirements. Gryphon Digital Mining shareholders approved the stock-for-stock merger on Wednesday, the company said in an Aug. 29 announcement. 

“The Reverse Stock Split is expected to become effective as of 5:00 p.m. Eastern Time on Sept. 2, 2025,” it said. 

Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: https://t.co/vtsk5yIzLJ $GRYP @AmericanBTC pic.twitter.com/Xg6JyUJ0tU

— Gryphon Digital Mining (@GryphonMining) May 12, 2025

The stock split means that every 5 shares held prior to the merger will become one share. 

That will see the number of Gryphon Digital Mining shares get slashed from around 82.6 million to 16.6 million, before shares from the merger are added. 

The company said that the overall value of the shares won’t change, just the stock price for each share. This is being done to meet the Nasdaq’s minimum share price requirement for listing. 

After the merger closes, the stock will begin trading as Class A Common Stock under the ticker “ABTC.” 

The shareholder vote and subsequent merger follows an initial agreement in May under which American Bitcoin would go public by merging with Gryphon Digital Mining. 

Gryphon Digital Mining Shares Slump 10.5% Earlier this week, Gryphon Digital Mining’s shares surged after news of the merger broke. But yesterday they plunged 10.47%. 

There was, however, some buying activity during the after-hour session, which saw the firm’s stock price climb over 1%, data from Google Finance shows. 

Gryphon Digital Mining share price (Source: Google Finance)

Despite the recent pullback, the company’s stock is still up more than 17% over the past week and 54% on the monthly time frame. 

American Bitcoin Set To Join Bitcoin Treasury Race American Bitcoin debuted in March after Eric Trump and Donald Trump Jr rebranded American Data Center under the new name. The venture was launched in collaboration with Hut 8, a crypto mining and infrastructure company who holds 80% of the firm’s shares. 

When it was launched, American Bitcoin was positioned as a “pure-play” Bitcoin mining company with the aim to add a large amount of BTC to its balance sheet.

American Bitcoin has officially disclosed holdings of 215 BTC. With the upcoming access to public markets, American Bitcoin will be able to raise more capital and increase its BTC holdings..

That’s as the Bitcoin treasury race heats up, with 310 companies collectively holding 3.68 million BTC on their balance sheets, data from Bitcoin Treasuries shows. 

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PANews reported on April 23 that, according to SoSoValue data, most sectors in the crypto market rose, with the NFT sector performing particularly well, rising for the third consecutive day and gaining another 2.63% in the last 24 hours. Among them, Pudgy Penguins (PENGU) rose 8.88%, Blur (BLUR) rose 8.32%, and Audiera (BEAT) and Zora (ZORA) rose 3.17% and 3.64% respectively. Meanwhile, Bitcoin (BTC) rose 2.76%, breaking through $78,000; Ethereum (ETH) rose 2.09%, approaching $2,400.

In other sectors, the Layer 2 sector rose 1.14% in the last 24 hours, with Starknet (STRK) up 18.56%; the Meme sector rose 1.12%, with SPX6900 (SPX) up 14.87%; the DeFi sector rose 0.85%, with Genius (GENIUS) up 16.71%; the CeFi sector rose 0.83%, with Bitget Token (BGB) up 3.08%; the Layer 1 sector rose 0.58%, with Canton Network (CC) up 2.65%; the PayFi sector fell 0.24%, but Ultima (ULTIMA) rose 5.94%.

Capital Rotates from Bitcoin Into These Three Altcoins

The CEO of Fetch.AI (FET) has offered a reward to uncover Ocean Protocol’s move after the project was accused of liquidating millions of tokens, affecting the FET’s price and its holders.

Fetch.AI Vs Ocean Protocol Feud On Tuesday, Humayun Sheikh, CEO of Fetch.AI, offered a bounty $250,000 to anyone who could “uncover the OceanDAO signatories and their connections to Ocean Foundation.” The post followed last week’s allegations that Ocean Protocol had dumped hundreds of millions of FET tokens into crypto exchanges earlier this year.

FEt.AI’s CEO offers a reward to uncover alleged $120 million dump. Source: Humayun Sheikh on X For context, crypto AI projects Fetch.AI, Ocean Protocol (OCEAN), and SingularityNET (AGIX) merged into the Artificial Superintelligence (ASI) Alliance in mid-2024, combining their tokens under a shared FET framework.

Over a year later, Ocean Protocol Foundation announced its departure from the alliance, sharing on October 9 that it had resigned as a member of the ASI Alliance, “effective immediately.”

Last week, Fetch.AI’s CEO affirmed that the Ocean Protocol Foundation had swapped 661.2 million OCEAN tokens minted in 2023 for 286.4 million FET this July, suggesting that the protocol had been moving and liquidating them for the past three months.

Sheikh noted that “Ocean as stand alone project did this it would be classed as a rug pull,” later vowing to personally fund three or more class action lawsuits in different jurisdictions. “If you are or were a holder of $fet and have lost money during this Ocean action be ready with your evidence. (…) I will be setting up a channel for all to submit your claims,” he wrote.

Ocean Protocol called the accusations “unfounded claims and harmful rumors,” affirming that their team was “preparing responses to the various unfounded claims and allegations while respecting the ambits of the law.” At the time of writing, the protocol’s official X account has not published a response.

Did Ocean Dump $120M Worth Of FET? Data analytics platform Bubblemaps shared a timeline of the Ocean Protocol moves, highlighting that despite the merger, the protocol kept a large amount of OCEAN tokens in its wallets for alleged “community incentives” and “data farming.”

According to Bubblemaps’ analysis, Ocean Protocol’s team wallet (0x4D9B) converted 661 million OCEAN into 286 million FET, worth $191 million on July 1, and later sent 90 million FET to an OTC provider, GSR Markets.

On August 31, the team wallet split the remaining 196 million FET across 30 new addresses. By October 14, most of these addresses had sent the funds to Binance or the OTC provider.

Ocean Protocol’s on-chain moves. Source: Bubblemaps on X Bubblemaps estimated that around 160 million tokens were sent to Binance, while 109 million FET were transferred to GSR Markets. In total, approximately 270 million tokens, valued at around $120 million, were reportedly transferred and potentially liquidated.

“We can’t confirm whether the $FET tokens were sold by Ocean Protocol, although such transfers are typically associated with liquidation,” the platform noted, adding that on-chain activity only shows a multisig wallet linked to the protocol swapped millions of OCEAN tokens for FET, and sent them to Binance and GSR.

FET’s Price Sees Sharp Decline Analyst Cryptor pointed out that the feud has triggered uncertainty surrounding the projects. He noted that the FET’s Top PnL Leaderboard doesn’t look good, as “almost everyone over the past 30 days has fully exited their positions.” Additionally, Smart Money Flows have been declining for nearly a year, alongside the price, which has retraced over 92.6% from its $3.45 all-time high (ATH).

The analyst asserted that “you want segments like Top PnL traders, Smart Money, and funds to stay onboard because they set the tone for market behavior. (…) The data shows hesitation and capital leaving, which is to me a clear sign that confidence hasn’t returned. Price might hold temporarily, but without their participation, volatility rises quickly.”

As of this writing, FET trades at $0.25, an 8.3% decline in the daily timeframe.

FET’s price in the one-week chart. Source: FETUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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