Category: Altcoins

SharpLink Gaming Doubles Down on Ethereum, Amasses 470K + ETH

Posted on by Olumide Adesina

SharpLink Gaming became the second-largest corporate holder of Ethereum after purchasing $109 million worth of Ethereum during the recent market correction, increasing its treasury to over 470,000 ETH.

 

The company added approximately 31,941 ETH through a purchase executed via Galaxy Digital’s OTC desk, a preferred method for discreet, high-volume trades, using two sizable USDC transfers.

SharpLink’s holdings now exceed 470,000 ETH. The transactions included a $53 million USDC transfer and a subsequent $56 million transfer, both facilitated through Galaxy Digital’s OTC platform. Blockchain analytics firm Arkham Intelligence confirmed these transactions, highlighting SharpLink’s strategic move to profit from the recent market correction.

The wallet address linked to these transfers has accumulated over $800 million worth of Ethereum, demonstrating ongoing accumulation efforts. Corporate Ethereum treasuries have exceeded $10 billion and continue to grow.

BitMine holds the top position with 625,000 ETH, followed by SharpLink Gaming. Other notable holders include the Ethereum Foundation, PulseChain, and The Ether Machine. This trend reflects increasing institutional trust in Ethereum’s long-term value and utility.

Bitcoin Dips to Three-Week Low Following Historic July Surge

Posted on by Olumide Adesina

Bitcoin traded near its three-week lows as traders continued to retreat from the record highs reached in July amid the US’s euphoria over digital asset adoption. , the cryptocurrency hit its lowest level in three weeks with a price level at $114K

The first US regulatory guidelines for cryptocurrency were signed into law by Donald Trump just days before Bitcoin reached a record high of $123,200 on July 14. After surpassing $4 trillion in total market capitalization for the first time in July, the broader cryptocurrency market retreated, and Ether dropped as much as 5 percent to $3.5K.

Record-breaking ETF inflows fueled that rally. According to data compiled by Bloomberg, Bitcoin ETFs experienced $6 billion in net inflows last month, marking the third-best month ever, while US Ether ETFs recorded $5.4 billion, their highest on record.

Recently, ETF inflows have slowed, and demand has cooled, as shown by key institutional metrics. Data from researchers Coinglass shows that over $800 million in long positions were liquidated on Saturday, with Ether leading the cuts at $251 million and Bitcoin at $200 million.

CryptoQuant reports that, after nearly two months of rising readings, Bitcoin’s Coinbase premium—a gauge of US investor interest—turned negative this week. Additionally, from July highs, open interest in Bitcoin and Ether futures on CME has decreased by 13% and 21%, respectively.

Coinbase dropped as much as 17% on Friday following the release of lower-than-expected second-quarter revenue by the biggest US cryptocurrency exchange, which coincided with a decline in digital asset market volatility.

SEC Faces Tight Deadline in Ripple XRP Lawsuit

Posted on by Olumide Adesina

The Securities and Exchange Commission’s (SEC) lawsuit against Ripple continues to attract much attention from the cryptocurrency community, which hopes that the lengthy XRP case will be resolved. The SEC has not taken similar action, despite Ripple’s decision to withdraw its appeal.

District Judge Analisa Torres rejected the agency’s proposed settlement with Ripple, resulting in further delays and ongoing uncertainty regarding the case’s resolution.

Legal expert Bill Morgan discussed the situation and stated, “The SEC has not yet withdrawn its appeal in the Ripple case.”

The SEC has no deadline to revoke the appeal, he clarified. Although it could simply ask for more time, the SEC has until August 15, 2025, to report to the appeals court if it chooses to take action.

We should hear something about that in the next two weeks. The core issue in the SEC v. Ripple case, filed in December 2020, was whether Ripple’s sales of XRP qualified as unregistered securities.

According to a significant 2023 decision by Judge Torres, programmatic exchange sales of XRP were not securities, but institutional sales were.

Judge Torres rejected the settlement that the SEC and Ripple had agreed upon to reduce the fine and lift the injunction. Despite the ongoing legal drama, XRP’s recent surge in popularity can be attributed to several factors. Institutional interest has increased due to the court ruling, which provided partial regulatory clarity, making XRP a more attractive asset for businesses. Its role as a fast and affordable bridge currency for international payments continues to draw the attention of financial institutions and treasuries. Furthermore, the growing possibility of an XRP spot ETF encourages some companies to include XRP in their treasury assets, paving the way for broader mainstream adoption.

XRP Price Prediction: Ripple Volatility as Dormant Wallets Reactivate, Rebound to $5?

Posted on by Skerdian Meta

XRP is currently navigating a phase of profit-taking and whale-driven volatility while maintaining critical technical support following an impressive burst to new highs in July.
Continue reading “XRP Price Prediction: Ripple Volatility as Dormant Wallets Reactivate, Rebound to $5?” →

MicroStrategy’s Record Earnings Overshadowed by 12% MSTR Stock Slide

Posted on by Skerdian Meta

MicroStrategy stunned Wall Street with a record-breaking Q2 earnings report, but its stock still tumbled as Bitcoin volatility and profit-taking weighed on investor sentiment. Continue reading “MicroStrategy’s Record Earnings Overshadowed by 12% MSTR Stock Slide” →

Visa Boosts Crypto Push with Stellar, Avalanche

Posted on by Olumide Adesina

Visa is expanding its support for additional cryptocurrencies and blockchains as it continues its journey into digital assets.

The world’s second-largest card payment company announced in a press release that it is expanding its support for two blockchains, two additional USD-backed stablecoins, and the EURC, which is backed by the euro. Paxos and the company have partnered, adding the Global Dollar (USDG) and PayPal USD (PYUSD) as two more stablecoins to the company’s portfolio.

The new additions include Stellar, Avalanche, which already support the Ethereum and Solana blockchains. Additionally, the addition of Circle’s stablecoin, EURC, broadens the range of stablecoins. “To help meet the needs of our partners worldwide, Visa is constructing a multi-coin and multi-chain foundation,” stated Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships. We think stablecoins are scalable when they are trusted.

Prominent US banks have openly expressed their thoughts about investigating or integrating stablecoins into their regular business operations, including JPMorgan, Citi, and Goldman Sachs. After years of practical trials and collaborations, the company’s network has now integrated four stablecoins and four blockchains. One noteworthy example is their partnership with Bridge, a division of Stripe, earlier this year, which allows Visa cards linked to stablecoins to be used at any Latin American merchant that takes them.

Bridge essentially imitates normal transactions by taking out the required funds and converting them to local fiat. Stablecoins are undoubtedly a mainstay among cryptocurrency-adopting institutions; their market capitalization has doubled since the beginning of the year and is currently over $265 billion.

Ninety percent of businesses have tested or used stablecoins in 2025, mainly to reduce cross-border, according to the Ivy Analytics platform.

 

Solana Slides to $165: Bargain or Bust ?

Posted on by Olumide Adesina

Solana dropped 8% to reach lows of $165 amid widespread selling pressure in the crypto market

 

The 50-day SMA ($161) now serves as the next support level. Bulls will try to push the SOL/USDT pair above $185 if the price rebounds from the 50-day SMA. Bears gain an advantage if the 50-day SMA is broken and closes below it. In that case, the price might fall to $126.

However, bulls might see the decline as a buying opportunity, especially as volatility prompts some investors to take profits. High buying pressure could see the altcoin rise to $209.

The Relative Strength Index (RSI) stands at 45 after SOL moved out of overbought territory, below the midpoint, and is declining, indicating a potential shift in momentum toward the oversold zone.

The Moving Average Convergence Divergence (MACD) on SOL’s daily chart also suggests bearish momentum following a downward trend. Some analysts expect SOL’s price to surge to $500 if spot Solana ETFs are approved.

The immediate response has been negative, although Project Crypto aims to legitimize blockchain markets and bring long-term clarity. Traders seem to be preparing for possible delays, enforcement challenges, or simply locking in profit gains.

Ethereum Crash below $3.5K Amid Market Blood Bath

Posted on by Olumide Adesina

Ethereum dropped below $3,500 on August 2, reflecting market fatigue and pessimism. Increased selling pressure and market exhaustion are the main reasons for this sell-off.

Significant net outflows from exchanges indicate heightened selling activity, and technical indicators, including the RSI and MACD, suggest that the market is oversold.

ETH’s bearish trend can be attributed to these factors. The recent price dip below $3,500 marks a major shift in the cryptocurrency market, driven by sentiment and technical signals.

The overall exhaustion in the market is evident in this decline, affecting ETH and related assets. According to market analysts, the lack of official statements from Ethereum leaders like Vitalik Buterin or Joseph Lubin suggests that the drop is based on general market conditions rather than news specific to any project.

Ether’s net outflows, which represent the amount of cryptocurrency leaving exchanges, indicate investors’ intentions to sell or hold their assets off-exchange. On August 1, 2025, these outflows totaled $113 million, suggesting a bearish outlook for the market.

Market analyst Michaël van de Poppe has pointed out that this trend puts downward pressure on the prices of Ethereum (ETH) and Bitcoin (BTC). Currently, technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show that Ethereum is oversold. This implies that, despite the bearish environment, a reversal or stabilization may occur soon, aligning with patterns observed in previous market cycles.

$125 million Ripple Fine Frozen Pending SEC’s Next Move

Posted on by Olumide Adesina

XRP’s final settlement with the SEC has been delayed because Ripple’s $125 million penalty is still in escrow and has not been transferred to the U.S. Treasury, pending the withdrawal of both Ripple’s and the SEC’s appeals. Since the SEC has not yet withdrawn its appeal in the XRP case, Ripple’s $125 million penalty remains in escrow.

 

The transfer to the U.S. Treasury is on hold until both parties withdraw their appeals, although Ripple paid the money in cash.

The case remains open, and the funds are kept safely in escrow.

The SEC is still appealing, but Ripple has withdrawn its cross-appeal. Marc Fagel, a former SEC attorney, explained that a joint dismissal is needed for the escrow to be released. Judge Torres’s decision is not final until the SEC completes an internal vote to approve dismissal, so the penalty stays in escrow until then.

Recent Washington initiatives, such as SEC Chair Paul Atkins’s “Project Crypto,” aim to modernize securities regulations. These regulatory changes suggest a more targeted approach, treating fewer tokens as securities. This evolving landscape could speed up the resolution of cases like the XRP lawsuit against Ripple. The penalty was paid in cash, not XRP tokens.

The penalty will not be transferred until the court’s decision is final and Ripple and the SEC jointly withdraw their appeals. Until then, the money remains in escrow.