Author: Olumide Adesina

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.

Google: Alphabet Hits $3 Trillion, Citi set $280 Price Target

Posted on by Olumide Adesina

Alphabet became the latest sign that sentiment toward the parent company of Google was improving, joining a select group of businesses valued at over $3 trillion. A market capitalization of just over $3 trillion was reached after shares increased by as much as 4.3 percent to $251.22.

Nvidia Corp. and Alphabet are among a shortlist of companies worth more than $3 trillion. Microsoft Corporation and Apple Inc. are the only other publicly traded stocks valued higher than that.

A long-awaited antitrust ruling spared the search giant from the most severe penalties that regulators had proposed, such as the sale of Alphabet’s Chrome browser. This decision followed Alphabet’s second-quarter earnings report, which showed that the demand for artificial intelligence products is boosting sales.

Citigroup Inc. analyst Ron Josey raised his price target for the stock from $225 to $280, citing “an accelerated product development cycle that is beginning to emerge with greater Gemini adoption across both its Ads and Cloud businesses.” “In what we believe to be a relatively healthy online advertising market, there is increased clarity regarding its legal and regulatory challenges,” added Joey.

“We think Google is performing better across its halo of products, experiencing greater demand, and delivering improved PR,” the statement reads, despite competition facing the company’s search business.

In a note to clients, he stated, “We believe Google is executing better across its halo of products, experiencing greater demand, and delivering improved profitability.”

Galaxy Digital Boosts Solana Holdings from Coinbase, Binance

Posted on by Olumide Adesina

Galaxy Digital appears to have bought $300 million worth of Solana through centralized cryptocurrency exchanges in the last day. In 13 transactions over the past day, Galaxy purchased 1.24 million SOL from Binance, Coinbase, and Bybit, according to data from Arkham Intelligence.

Galaxy has been steadily acquiring large amounts of Solana from exchanges. Over the past five days, the company has bought about 6.5 million SOL, or $1.57 billion at current market prices, according to a report released on Sunday by the on-chain analytics platform Lookonchain.

Arkham’s data shows that Galaxy transferred millions of SOL to different addresses during this period, mainly to custody wallets on Fireblocks.

The Nasdaq-listed Solana digital asset treasury company Forward Industries (FORD) saw a $1.65 billion private placement last week, led by Galaxy, Jump Crypto, and Multicoin Capital. The three firms collectively subscribed for over $300 million as the private placement closed on Thursday.

Galaxy and the other two companies announced they will provide Forward Industries with financial and strategic support, aiming to make the Solana treasury strategy the top publicly traded institutional player in the Solana ecosystem.

It’s unclear whether the link Lookonchain made between Forward Industries and Galaxy’s Solana acquisition can be independently verified.
Galaxy CEO Mike Novogratz said the cryptocurrency market is about to witness a “season of Solana,” citing strong market momentum and positive regulatory signals..

President Trump Forecasts Deep Rate Cut by Fed This Week

Posted on by Olumide Adesina

President Donald Trump suggested that a significant interest rate cut from the Federal Reserve is on the horizon.

This comes ahead of an important meeting where the central bank’s governors are expected to ease monetary policy for the first time in nine months. On his way back to Washington on Sunday, Trump told reporters, “I think you have a big cut.” He believes it is an ideal time for such a reduction.

Typically, interest rate cuts by the Fed are anticipated in September, particularly as the economy grapples with a weakening labor market, persistent inflation, and Trump’s unprecedented demand for lower borrowing costs. According to a Bloomberg survey of economists, the median estimate predicts a 25 basis-point cut.

Trump has consistently urged Fed Chair Jerome Powell to resign and has been applying pressure for months to lower interest rates.

Recent weak economic reports suggest that consumer spending and economic growth could be jeopardized if the labor market slows down further.

However, some officials are cautious about taking strong action, as inflation remains above the Fed’s target of 2 percent and could rise further if tariffs increase costs.

Currently, Trump is considering candidates to replace Powell, whose term expires in May 2026. Among his top choices are former Fed Governor Kevin Warsh, Fed Governor Christopher Waller, and White House Economic Advisor Kevin Hassett.

US-China Talks Heat Up: Trade, TikTok Take Center Stage

Posted on by Olumide Adesina

US and Chinese representatives discussed TikTok, trade, and the economy during a day of high-level talks in Madrid.  A Chinese delegation led by Vice Premier He Lifeng and a US delegation led by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met for nearly six hours on Sunday.

Bessent said “We’ll start again in the morning.”. The status of ByteDance Ltd. and matters about national security are on the agenda. This week is the deadline for TikTok to reach an agreement to continue operating in the US.

As early as October, when they are scheduled to attend a summit in South Korea, officials were also expected to set the stage for a possible meeting between Xi Jinping and Donald Trump.

During a press briefing, Trump stated that negotiations regarding TikTok are “going fine,” but emphasized that the platform’s future will ultimately depend on actions taken by China. He mentioned, “Depending on the situation, we might either let it die or— I’m not sure,” adding that it’s “up to China.” 

 

Furthermore, the Chinese Ministry of Commerce announced that a delegation will arrive in Spain from September 14 to 17.

This trip is part of a broader agenda for September. A U.S. official is scheduled to meet with counterparts in both Spain and Britain during his trip, planned for December 12 to 18. This week, Trump is also set to travel to the UK.

China has launched two investigations into the U.S. semiconductor industry, including an anti-dumping probe focused on specific American-made analog IC chips. These actions were taken ahead of the talks scheduled for Sunday and followed the United States’ decision to add 23 additional Chinese companies to its entity list.

This list imposes restrictions on companies that are considered to be acting against the national security or foreign policy interests of the United States.

Coinbase’s XRP Stash Shrinks 90% in Rapid Three-Month Selloff

Posted on by Olumide Adesina

Coinbase’s XRP holdings decreased from about 970 million to around 99 million, a 90% decline in a quarter.

 

This drop was driven by ongoing off-chain transfers from 52 cold wallets to six active wallets, raising concerns about institutional custody or private transfers, while the on-chain destinations remain unknown. Multiple large transfers took place during the summer, according to blockchain analytics (as reported by XRPWallets in plain text).

Coinbase’s ten largest cold wallets each held roughly 26.7 million XRP before being moved or consolidated. One recent transfer involved 16.5 million XRP, valued at approximately $51.4 million. On-chain records only verify the outflows but do not identify the final custodians.

Transfers to institutional custody providers, private vaults, or off-exchange custody are possible explanations.

The concentration and rapid depletion of visible exchange reserves may indicate changes in liquidity and custody needs. Despite the withdrawals, XRP’s market cap remains near $183 billion, suggesting its value has held steady amid reserve changes

. Large off-exchange transfers could temporarily affect order book depth by reducing on-exchange liquidity, though market impact remains speculative without verified sell-side activity. The data only shows transfers and declining on-exchange balances.

SEC detains XRP, DOGE ETF, But Approval Odds Remain High

Posted on by Olumide Adesina

Crypto ETFs linked to Dogecoin (DOGE) and Ripple’s XRP have been delayed, highlighting the challenges facing digital assets other than Bitcoin and Ethereum.

Even though both funds were expected to mark significant events in their respective communities, the U.S. Securities and Exchange Commission (SEC) demonstrates the gap between the more established spot Bitcoin and Ethereum ETFs currently trading in the nation and experimental products.

The SEC’s review of the Franklin XRP ETF was extended on September 10th, pushing the deadline for a final decision from September 15th to November 14, 2025. The regulator cited the need for more time to consider potential risks and comments. Fifteen applications for XRP ETFs remain pending, marking the second extension since the product was first filed in March.

Bettors on Polymarket have given the project a greater than 90% chance of approval by year’s end, indicating investors remain optimistic that Ripple will obtain its own ETF.

Whales have been hoarding the original meme coin in anticipation of the ETF, according to recent data from Santiment. Wallet holdings with one to ten million DOGE reached a four-year high.

The SEC’s strategy reveals a significant gap in the strategy used to introduce crypto ETFs to the market. Under the Securities Act of 1933, for instance, spot Ethereum and Bitcoin ETFs are set up as grantor trusts.

The ’33 Act framework is currently the industry standard for crypto products with physical backing, but it involves a lengthy review process that includes a formal comment period. In contrast, the Dogecoin product is structured under the Investment Company Act of 1940.

This allows it to utilize a special framework as a Registered Investment Company (RIC), which is different from the typical setup used by more well-known crypto ETFs, according to industry expert James Seyffart.

 

Bitcoin Miners’ Reduced Selling Fuels BTC Rise to $116K

Posted on by Olumide Adesina

Bitcoin (BTC) has risen above $116,000, reaching its highest level in more than two weeks. The behavior of cryptocurrency miners has changed in tandem with this upward trend.

A considerable source of potential selling pressure is being removed from the market as miners choose to hold onto their assets rather than sell them.

According to Marketwatch, Bitcoin currently accounts for 56 percent of the market when compared to other cryptocurrencies. Its stability around this two-week peak shows strong investor confidence. Additionally, Bitcoin has a market capitalization of $2.29 trillion, with a 24-hour trading volume of nearly $49 billion.

Historically, Bitcoin miners would sell their holdings, especially during price rallies, particularly before halving events that reduced their block rewards. However, this cycle is different. Since the beginning of September, miner transfers to exchanges have significantly decreased, as noted by CryptoQuant analyst Arab Chain, who analyzed data from Binance.

The change is indicative of a more general shift in behavior.

According to a previous report from CryptoQuant, miners have been accumulating more aggressively than in previous cycles, helped by the arrival of U last year and growing institutional adoption. The market is successfully consuming the available supply, and since a significant selling source has been reduced, there appears to be less of a barrier to future gains. “They might be holding assets rather than selling them because they are expecting a price increase,” Arab Chain wrote.

Furthermore, mining activity is increasing, according to JA Maartunn, another market observer. He claims that on August 28, the number of active ASIC miners reached a record 5.62 million, indicating intense competition and continuous investment in the industry. The decline in Bitcoin miner deposits into Binance, according to Arab Chain, is a “positive short-term signal” that may help launch a new accumulation phase.

XRP: Ripple Bulls Ride SWIFT Battle to New High

Posted on by Olumide Adesina

XRP bulls are setting their sights on a $3.5 price target amid the recent volatility in the cryptocurrency market.XRP has once again captured attention as technical indicators suggest a potential breakout.

The cryptocurrency is no longer forming a descending triangle, a well-known chart pattern that often precedes significant price movements. According to data from CoinGecko, XRP experienced a remarkable rise, reaching a price of $3.16 yesterday.

The descending triangle typically indicates a period of consolidation, where buyers defend support levels while sellers push prices lower. However, XRP’s support has remained strong despite market fluctuations, indicating robust demand.

If Ripple bulls can break above the upper boundary of the triangle, momentum may increase, attracting new buyers and potentially leading to a surge towards $3.60. Achieving this price would mark one of XRP’s strongest rallies in recent months and signal a notable recovery from its prolonged consolidation. At this level, XRP would also be very close to its current all-time high.

Morgan Stanley has made progress in analyzing Ripple’s potential to disrupt traditional cross-border payment systems, including SWIFT. Experts within the firm speculated that the successful launch of a spot XRP ETF could generate up to a trillion dollars in liquidity for the XRP ecosystem.

This estimate is based on the idea that XRP can reduce the operational costs of cross-border transactions by sixty percent, freeing up a significant amount of dormant bank capital and effectively positioning it as a competitor to SWIFT.

 

 

 

 

Winklevoss Twins’ Gemini Crypto Exchange Pumps High in Nasdaq Debut

Posted on by Olumide Adesina

Gemini’s shares jumped 14% on Friday as the exchange operator raised $425 million in an IPO. The stock’s IPO price of $28 was about 32% below its opening price of $37.01 on the Nasdaq. The share price peaked at $45.89 at one point. At $32, the stock closed up 14 points, or 3%.

The New York-based company set its initial public offering (IPO) price late Thursday above the anticipated range of $24 to $26, which was set this week, and an initial range of $17 to $19. Before trading started, the company was valued at about $3.03 billion. By the end of July, Gemini, founded by the Winklevoss brothers in 2014 and primarily functioning as a cryptocurrency exchange, had over $21 billion in assets on its platform.

Gemini reported a net loss of $159 million in 2024 and a loss of $283 million in the first half of this year, according to its filing with the Securities and Exchange Commission. The Winklevoss brothers, who are among the first bitcoin billionaires and investors, believe that bitcoin is a better store of value than gold.  They applied to start the first bitcoin exchange-traded fund in 2013, over a decade before the first bitcoin ETFs were finally approved.

The application was denied by the Securities and Exchange Commission due to concerns about fraud and market manipulation, paving the way for future discussions of bitcoin ETFs. Even in its early days, when Wall Street shunned bitcoin because of its extreme volatility and anti-establishment roots, the Winklevoss brothers were vocal about the need for wise regulation to establish guidelines for the financial revolution driven by cryptocurrency.

Bitcoin Battles $118K–$122K Resistance: Will BTC Break Through

Posted on by Olumide Adesina

Bitcoin (BTC) is facing a critical test of the $118K–$122K resistance zone, which could determine its next major trend.

Market analyst CasiTrades stated Bitcoin will face its most important test yet. Whether it reaches new all-time highs or enters a long-term correction likely depends on the resistance between $118,000 and $122,000.

Traders are focusing on this zone, weighing both bullish and bearish potential outcomes. CasiTrades suggests that a sharp decline within this range could signal that Bitcoin has already peaked, framing the current rally as the final phase of a larger macro correction that might change expectations for the cycle.

Conversely, a decisive break above $122,000 would disprove the correction theory, pushing Bitcoin to new all-time highs from its current level of $124,128 and sparking fresh bullish momentum with targets beyond the current range.

Buyers should adopt a long-term outlook: Arthur Hayes argues that Bitcoin’s price volatility favors patient holders over day traders seeking quick profits. He cites currency devaluation trends and the average returns over the past decade to support multi-year investment expectations. Holders should evaluate performance over years, not days.

Arthur Hayes emphasizes that Bitcoin’s price should not be subjected to daily speculation but considered with long-term patience.

He notes that long-term investors have historically seen disproportionate gains, while recent buyers expecting instant returns misunderstand market cycles.