bitcoinlfg

Tag: Million

  • ADA price forecast: Cardano proposes a 70 million budget for key upgrades

    ADA price forecast: Cardano proposes a 70 million budget for key upgrades

    ADA price action

    • Core organizations have submitted a 70 million ADA tokens budget proposal.
    • The goal is to fund key ecosystem integrations ahead of 2026
    • ADA remains poised for remarkable breakouts despite short-term bearishness.

    Cardano’s major organization has proposed a new budget, calling for 70 million ADA tokens in Treasury funding to supercharge delayed ecosystem upgrades and integration.

    Announced yesterday, November 27, the proposal outlines a strategic plan to introduce innovative infrastructure needed for institutional access, cross-chain connectivity, and stablecoins.

    Named the Cardano Critical Integrations Budget, the plan received endorsement from key ecosystem organizations, including the Cardano Foundations, EMURGO, Input Output, the Midnight Foundation, and Intersect.

    That reflects a unified approach to equip the ADA network with what it needs to thrive in the coming times.

    The official blog highlighted:

    Cardano needs a set of core infrastructure layers to unlock stablecoins, attract deeper liquidity, support institutional participation, and expand the possibilities for DeFi, RWAs, and DePIN. These integrations cannot be delivered in isolation. They require a shared, ecosystem-wide commitment that brings the right partners to Cardano in a structured and accountable way.

    Trader attention remains on the ADA price amidst these developments. Are the coordinated efforts the catalyst that propels this altcoin to its predicted peaks?

    Why is this budget crucial?

    Cardano’s team is among the most active in the blockchain sector. Meanwhile, the project’s next growth phase now relies on mission or partially developed components.

    They include functionalities like enterprise-level custody and wallets, pricing oracles, advanced stablecoin infrastructure, and cross-chain bridges.

    The Cardano blockchain has struggled to unlock crucial utility without these elements.

    For instance, stablecoins are essential for DeFi liquidity and day-to-day on-chain transactions.

    Cross-chain support allows users to move tokens across the platform easily.

    Moreover, institutional-grade analytics and custody are crucial for risk management and compliant offerings.

    Indeed, Cardano’s long-term potential requires coordinated efforts to unleash.

    Therefore, core organizations have been negotiating with top-notch integration partners recently, and their conversations have reached a mature phase, inviting the community to participate in the next steps.

    ADA price outlook

    Cardano is trading at $0.4311 after gaining more than 6% the last seven days.

    The token remained relatively muted the past day, losing a mere 0.08% of its value.

    Meanwhile, the 20% slump in 24-hour trading volume signals prevailing selling pressure.

    Robust developer activity, especially with the 70 million ADA budget approved, and broad-based recoveries could trigger massive breakouts for ADA.

    However, buyers should overcome key resistance at $0.45 and $0.70 and reclaim the psychological level at $1 to shift Cardano’s short-term outlook to bullish.

    Surpassing $1.50 would confirm solid reversals and clear the path for higher targets.

    ADA can skyrocket to $2 and extend toward $2.20. That would mean a more than 400% rally from the current market price.

    On the other hand, continued selling pressure could trigger a roughly 40% decline to the support barrier at $0.25.

    A breakdown here would erase all bullish momentum and drag ADA prices to the historical foothold at around $0.18.

    Share this article
    Categories
    Tags



    Source link

  • Jito’s JTO token rises on a16z’s $50 million investment in Solana staking protocol

    Jito’s JTO token rises on a16z’s $50 million investment in Solana staking protocol

    a16z Invest In Jito

    • Jito’s native token, JTO, jumped 3% intraday on October 16, 2025, following a16z’s $50 million investment.
    • The $50 million investment by Andreessen Horowitz’s crypto arm, acquiring locked JTO tokens, signals strong institutional confidence in Jito’s liquid staking and MEV solutions.
    • The funding will fuel Jito’s Block Assembly Marketplace and node expansion.

    Andreessen Horowitz’s crypto arm has  announced a $50 million investment in Jito, acquiring a substantial allotment of the protocol’s native JTO tokens.

    Jito, an important infrastructure layer on the Solana blockchain, offers liquid staking and maximum extractable value (MEV) extraction.

    a16z investment of $50m in staking protocol

    Andreessen Horowitz’s (a16z) $50 million infusion into Jito marks the venture firm’s largest single commitment to a Solana staking protocol.

    It eventually emphasizes strategic token purchases over traditional equity. In exchange for the investment, a16z received non-circulating JTO tokens, locking them for an extended period.

    Brian Smith, executive director of the Jito Foundation. highlighted the deal’s novelty:

    If you’re accepting long-term alignment where you can’t sell for a while, then there’s traditionally some modest discount associated with that.

    This structure, particularly 16z’s prior $55 million LayerZero and $70 million EigenLayer investments, prioritizes ecosystem growth over quick flips.

    The capital to accelerate Jito’s roadmap, including BAM node expansion.

    Strategically, it aligns a16z with Solana’s high-throughput ethos, where Jito’s MEV tools mitigate front-running risks plaguing other chains.

    This infusion arrives amid a16z’s aggressive crypto pivot, following $4.5 billion in new funds raised earlier in 2025.

    As institutional inflows swell, the deal could herald a staking renaissance, democratizing yields while fortifying blockchain security.

    Jito price outlook

    Jito is currently trading at $1.16, up nearly 3% and has touched highs of $1.19 across major exchanges.

    The gains came amid news of a16z’s investment and reflected trader optimism around the token as institutional validation takes root. Solana’s price rising in the past few weeks also buoyed traders.

    Analysts are linking this rebound to the investment’s timing, coinciding with positive Solana network metrics. This includes a 15% uptick in daily active users and rising decentralized finance volume.

    In terms of the technical outlook for JTO, the daily chart price is near the oversold territory with the Relative Strength Index (RSI) at 35.

    The indecisive market nonetheless has Jito poised above $1 after bulls recovered from lows of $0.33 seen on October 10, 2025.

    Jito price chart by TradingVew

    Other than the technical perspective, regulatory shifts that could impact liquid staking tokens remain a risk.

    However, recent SEC exemptions and broader market downturns indicate a long-term bullish outlook.

    The surge to near $1.20 suggests bulls could eye the $1.50-$1.70 range, above which lie the key targets of $1.85 and $2.56.

    If market conditions align, buyers will target the all-time peak above $5.61 reached in December 2023.

    Share this article
    Categories
    Tags



    Source link

  • Ethena price forecast amid a 94 million ENA token unlock

    Ethena price forecast amid a 94 million ENA token unlock

    Ethena Price Amid Token Unlock

    • Ethena’s token ENA is up nearly double digits in 24 hours as bulls eye a breakout above $0.80.
    • The token expects a major unlock event of 94 million ENA.
    • Analysts say price could break out amid key fundamental strengths for Ethena.

    Ethena (ENA) price is up nearly 10% in the past 24 hours, despite the USDe stablecoin platform facing a huge token unlock.

    The price of Ethena at $0.69 signals a potential breakout if buyers drive sentiment post the over 94 million ENA token unlock event.

    Meanwhile, trading volume has surged 53% to over $574 million and market cap to $4.6 billion, putting Ethena among the top gainers on the day.

    Bitcoin Cash, Tornado Cash and Sky are among the outperformers in the past 24 hours.

    Ethena price ticks up ahead of token unlock

    As noted, Ethena is preparing for a significant token unlock, with 94.2 million ENA tokens set to be unlocked on Sept. 2.

    Per current price, the total value of the tokens coming into circulation stands at around $63.1 million, scheduled for 15:00 UTC+8.

    According to on-chain details shared by SoSoValue in a post on X, the huge ENA unlock will account for 0.63% of the total supply.

    Notably, the coins will be distributed between the ecosystem fund and foundation, with 53.55 million ENA going to the fund and 40.64 million ENA to the foundation.

    In the crypto market, token unlocks are critical events and often affect market liquidity and price stability.

    Ethena’s price will likely swing amid the token release, with trader sentiment key to short-term price movement.

    However, this unlock comes amid substantial milestones for the Ethena network, including the success of its synthetic dollar USDe.

    The past month has seen USDe cross the $12 billion market cap, and Ethena surpassed $500 million in cumulative gross interest revenue. Ethena also saw over $30 million USDe of rewards distributed.

    Strong fundamentals and broader market sentiment may thus help ENA price even as 94 million tokens come into circulation.

    Ethena price forecast

    The ENA token reached highs of $0.85 in August after a significant uptick from lows of $0.51 earlier in the month.

    However, profit taking tanked prices to around $0.62 before a bullish bounce faded around $0.75.

    Ethena price chart by TradingView

    Ethena price is back near the $0.70 mark after its latest uptick, with ENA’s current daily chart displaying a potential cup and handle pattern.

    The pattern often signals a bullish trend continuation, and a price breakout above $0.80 is likely to confirm this for Ethena.

    The daily RSI above 54 and upsloping add to this bullish outlook. Buyers could target $1.26 in the short term.

    Share this article
    Categories
    Tags



    Source link

  • Crypto hacks in August hit $163 million as exchange risks grow

    Crypto hacks in August hit $163 million as exchange risks grow

    Crypto hacks in August hit $163 million as exchange risks grow

    • The largest theft was $91.4 million from anonymous Bitcoin addresses.
    • Other victims included Odin.fun ($7 million), BetterBank.io ($5 million), and CrediX Finance ($4.5 million).
    • Weak audits, human error, and fast platform launches are driving security risks.

    The digital asset industry faced another blow in August as hackers stole $163 million across 16 separate incidents, according to blockchain security firm PeckShield.

    This was a jump from July’s $142 million, showing how attacks are becoming more frequent and technically advanced.

    The largest theft was $91.4 million from multiple anonymous Bitcoin addresses, underlining the vulnerability of individual investors as well as institutions.

    Beyond the immediate financial loss, these incidents raise questions about the security of centralised platforms and the long-term impact on investor trust in the wider crypto market, which continues to expand globally.

    $54 million BtcTurk hack highlights exchange weaknesses

    One of the biggest cases in August was the breach of BtcTurk, Turkey’s leading crypto exchange, which lost $54 million.

    This incident was particularly notable because the same platform had already been hit in June 2024 for another $54 million, bringing its total annual losses above $100 million.

    BtcTurk confirmed that unauthorised access had been detected, affected wallets were frozen, and investigations with local authorities were underway.

    The repeat nature of the attack highlights how centralised exchanges remain a high-value target, with security defences proving inadequate against persistent attackers.

    Other platforms lost $17 million in separate cases

    While BtcTurk dominated headlines, smaller but still damaging attacks hit other platforms. Odin.fun lost $7 million, BetterBank.io suffered $5 million in losses, and CrediX Finance was drained of $4.5 million.

    These examples show how cybercriminals are not only targeting major exchanges but also smaller platforms, often exploiting weak security audits or untested systems.

    The cumulative effect of these breaches demonstrates how no level of the crypto ecosystem is safe from exploitation, whether through technical loopholes or basic operational oversights.

    Human error and lack of audits fuel rising attacks

    PeckShield’s data shows that the crypto sector’s rapid growth is directly linked to the rising number of hacks. New platforms and protocols are often launched quickly without thorough security reviews, giving attackers multiple entry points.

    Alongside structural weaknesses, human error continues to play a major role. Users failing to enable two-factor authentication, relying on weak passwords, or falling victim to phishing scams leave both exchanges and personal wallets open to compromise.

    The combination of technical flaws and behavioural lapses is creating an environment where cybercrime thrives, forcing exchanges and investors to reconsider their defences.

    Regulatory authorities in multiple jurisdictions have noted these trends, pointing to the need for stricter compliance checks.

    Bitcoin dips as investor confidence weakens

    The impact of these hacks has extended into the wider market. Bitcoin (BTC) slipped 0.29% in the past 24 hours to trade at $108,361.50, with a market capitalisation of $2.15 trillion.

    Bitcoin price
    Source: CoinMarketCap

    Analysts warn that repeated breaches could slow mainstream adoption, as every incident erodes investor confidence and strengthens the case for stricter regulations to protect consumers and stabilise trading activity.

    Share this article
    Categories
    Tags

    Source link

  • Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion

    • Bitcoin ETFs saw a $751 million net outflow in August, a first-ever event.
    • Ethereum ETFs absorbed a massive $3.9 billion in net inflows in August.
    • BTC’s price has fallen below key short-term holder cost basis levels.

    A stunning and unprecedented reversal has rattled the very foundations of the cryptocurrency market.

    For the first time since their celebrated launch, the institutional tide that carried Bitcoin to a record high has turned, with spot ETFs bleeding hundreds of millions of dollars in August.

    At the same time, a powerful and quiet current of capital has been flowing into Ethereum, signaling a potential changing of the guard and the beginning of a major rotation story that could define the rest of the year.

    The scale of the divergence is stark. In August, just weeks after they powered the asset to a 124,000 dollar all-time high, Bitcoin spot funds shed a staggering 751 million dollars in net outflows.

    In that same period, Ethereum ETFs quietly absorbed an incredible 3.9 billion dollars, a profound role reversal that suggests institutional investors may be fundamentally rebalancing their crypto exposure.

    Bitcoin’s fragile foundation

    The pain for Bitcoin is not just in the ETF flow data; it’s etched into the blockchain itself. A recent report from the analytics firm Glassnode paints a picture of a market slipping from euphoria into deep fragility.

    The analysis shows Bitcoin’s price has fallen below the cost basis of both 1-month and 3-month holders, a critical development that leaves a huge cohort of recent investors underwater and dramatically increases the risk of a deeper, panic-driven sell-off.

    If the price continues to slide below the six-month cost basis near 107,000 dollars, Glassnode warns, it could accelerate losses toward the crucial 93,000 to 95,000 dollar support zone, a dense cluster of accumulation by long-term holders.

    Prediction markets are echoing this cautious sentiment.

    Traders on Polymarket now assign a 65 percent chance that Bitcoin revisits 100,000 dollars before it retakes 130,000 dollars, a clear sign that the July rally is now seen as overextended and unsustainable without a renewed wave of institutional demand.

    Ethereum: the quiet ballast

    While Bitcoin falters, Ethereum is emerging as a quiet and powerful source of stability. Its ETF inflows have been remarkably consistent, logging positive net subscriptions in 10 of the last 12 months.

    August’s 3.9 billion dollar haul has been the engine behind the token’s impressive 25 percent gain over the past 30 days, a stunning outperformance during a brutal market-wide correction.

    The conviction behind Ethereum’s rise is firm. Polymarket traders see over 90 percent odds of the asset holding above 3,800 dollars into early September, and longer-term bets give it a 71 percent chance of finishing 2025 above the coveted 5,000 dollar mark.

    As Bitcoin’s institutional tide flows out, Ethereum’s steadier bid is becoming the market’s new anchor. The great rotation may be in its early stages, but the signs are unmistakable.

    A new power dynamic is taking shape, and the battle for crypto’s throne is just beginning.

    Share this article
    Categories
    Tags

    Source link

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

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

    Early PUMP investors dump 25.5B tokens, pocketing nearly $40M 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.
    Share this article
    Categories
    Tags



    Source link

  • Crypto ATM scams in Australia cause over AUD 3.1 million in losses

    Crypto ATM scams in Australia cause over AUD 3.1 million in losses

    Crypto ATM scams in Australia cause over AUD 3.1 million in losses

    • Over 150 unique scam reports filed with ReportCyber during the period.
    • Average loss per victim exceeded AUD 20,000.
    • Crypto ATMs in Australia surged from 40 in 2022 to over 1,800 by 2025.

    Australia is facing a fresh wave of crypto-related scams, this time involving the rapid expansion of cryptocurrency ATMs across the country.

    New data from ReportCyber shows that Australians lost over AUD 3.1 million to scams involving crypto ATMs between January 2024 and January 2025.

    The Australian Federal Police (AFP) has now issued a warning, urging greater public awareness as these frauds increasingly target vulnerable demographics, particularly those aged over 50.

    With more than 1,600 crypto ATMs now operating in the country—up from just 23 in 2019—the risk of exploitation is growing in parallel with accessibility.

    Over 150 reports filed, average loss tops AUD 20,000

    Between January 1, 2024, and January 1, 2025, Australia’s national cybercrime reporting platform, ReportCyber, received 150 reports specifically related to crypto ATM scams. This equates to roughly one report every two and a half days.

    The total estimated losses stood at AUD 3,107,600, with an average loss of more than AUD 20,000 per incident, according to the AFP.

    Authorities suggest that these numbers may only represent a fraction of the real impact. Many victims do not report their cases due to embarrassment, unawareness, or difficulty navigating the reporting process.

    AUSTRAC, the national financial intelligence agency, revealed that around AUD 275 million flows through cryptocurrency ATMs annually in Australia.

    A significant portion of that volume is linked to fraudulent activity, although the exact figure remains unquantified.

    Lack of regulation, rising usage worsen risk

    Crypto ATMs, often situated in easily accessible places such as convenience stores or next to children’s vending machines, offer convenience at the cost of security.

    Bitcoin’s irreversible nature and the low identification requirements of many machines make them ideal tools for scammers.

    Unlike traditional bank transactions, once crypto is sent via an ATM, there is virtually no way to recover the funds.

    The problem is not isolated to Australia. In the US, the Michigan Attorney General’s Consumer Protection Division has raised similar alarms about Bitcoin ATM scams targeting older adults.

    In Canada, authorities have previously flagged these machines as potential conduits for money laundering. The UK prosecuted an individual last year for operating an illegal Bitcoin ATM.

    Despite global efforts to crack down on misuse, regulations governing these machines remain patchy.

    Without mandatory Know-Your-Customer (KYC) procedures, scammers can exploit the anonymity and speed of crypto transfers to move illicit funds quickly and invisibly.

    Scammers prey on urgency, fake officials, and emotional manipulation

    Crypto ATM scams often follow well-established social engineering techniques.

    The AFP highlights that scammers typically contact victims posing as government officials, bank staff, or tech support agents.

    Some victims are lured through romance scams, investment promises, or job offers, often involving intense emotional manipulation and pressure to act urgently.

    The victim is then instructed to withdraw cash and deposit it into a crypto ATM, often while on a live call with the scammer.

    Fraudsters sometimes claim the transaction is necessary to “secure accounts” or prevent legal action.

    These tactics exploit both digital illiteracy and psychological vulnerability, especially among seniors.

    To combat these scams, the AFP and AUSTRAC recommend heightened public awareness and better education about cryptocurrency basics.

    As Bitcoin’s value continues to rise and ATM numbers grow, experts warn that the issue could worsen without coordinated regulatory intervention.
    Share this article
    Categories
    Tags

    Source link

  • Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    • Ichimoku and RSI indicators show no bullish momentum.
    • The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.
    • DOGE lags behind Bitcoin and Ethereum amid broader altcoin pullback.

    Dogecoin is navigating a volatile phase as its price hovers just above key support levels.

    After hitting a local high near $0.2, DOGE has trended downward, raising fresh doubts about the memecoin’s strength in the current market.

    While leading cryptocurrencies like Bitcoin and Ethereum continue to consolidate, Dogecoin has struggled to maintain momentum.

    The asset risks erasing nearly all gains from the past 30 days unless it can break through critical technical barriers and absorb significant short liquidations, estimated to exceed $500 million.

    The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.

    $0.165 zone is critical

    The Dogecoin price has hovered near a key liquidation zone at $0.165, where leverage from traders has accumulated above $500 million. This threshold is seen as a pivotal point for a potential short squeeze.

    Source: CoinMarketCap

    To break higher, the price may need to dip below this level to trigger liquidations, potentially forcing out short positions.

    Such a move could clear the way for a stronger rebound and extend the upward trend.

    This could allow bulls to target a return to $0.18 and eventually retest $0.2.

    Technical signals remain weak

    Technically, Dogecoin’s outlook remains weak. After failing to stay above its ascending trend line, DOGE has experienced sustained downward pressure.

    The Ichimoku cloud’s conversion line is acting as stiff resistance, and there’s no indication yet of a bullish crossover.

    Meanwhile, the Stochastic RSI has reversed after testing average levels, underscoring the growing influence of bearish sentiment.

    DOGE is expected to test support at $0.162, a level below the $0.164 liquidation zone.

    However, failure to hold this support could deepen the drawdown and prompt traders to reassess the memecoin’s long-term viability.

    $0.2 in 2025?

    While Dogecoin reached as high as $0.2 earlier this year, the question now is whether it can sustain such levels or rise further in 2025.

    For this to happen, the token must establish consistent upward momentum, clear resistance levels, and attract renewed investor interest.

    This appears challenging given its current technical weakness and absence of strong bullish signals.

    Still, market volatility could favour sharp movements in either direction. If the expected short squeeze plays out after testing $0.162 support, DOGE may rally back towards $0.18 and $0.2.

    But unless broader market conditions improve and sentiment shifts decisively, reaching the $0.5 mark in 2025 appears increasingly unlikely based on current data.

    Share this article
    Categories
    Tags

    Source link

  • Crypto trading boom lifts Kraken Q1 revenue to $472 million

    Crypto trading boom lifts Kraken Q1 revenue to $472 million

    • EBITDA for the quarter reached $187.4 million, a 17% increase.
    • Trading volume rose 29% amid a 35% rally in Bitcoin prices.
    • Launch of institutional FIX API boosted futures volumes by 250%.

    Kraken, one of the longest-operating cryptocurrency exchanges in the United States, reported a 19% year-on-year increase in revenue for the first quarter of 2025, reaching $472 million.

    The jump in trading activity followed heightened price volatility across the crypto market, largely driven by the return of Donald Trump to the White House and his pro-crypto policies, which included discussions of a national Bitcoin reserve.

    Kraken’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $187.4 million, up 17% from Q1 2024.

    However, despite strong numbers, regulatory pressure, rising competition, and market uncertainty remain key hurdles for the company’s long-term strategy.

    Revenue climbs on market volatility and pro-Bitcoin sentiment

    According to company data, Kraken’s trading volume surged 29% during the January–March period, mirroring the 35% rise in Bitcoin prices — from $69,000 to $94,000 — during the same timeframe.

    The increased volume was partly driven by favourable sentiment following the Trump administration’s commitment to explore Bitcoin as a strategic reserve asset.

    This policy signal helped fuel broader interest in the cryptocurrency sector, with major exchanges, including Kraken, benefiting from the resulting speculative activity.

    The surge in crypto valuations and trading enthusiasm also coincided with rising adoption of advanced features on the Kraken platform.

    The company rolled out a futures-focused FIX API during the quarter, specifically targeting institutional users.

    The product launch led to a 250% increase in monthly futures trading volumes, underscoring the shift towards professional-grade infrastructure.

    NinjaTrader acquisition adds new traders, products to portfolio

    Kraken expanded its offering in March 2025 by acquiring NinjaTrader for $1.5 billion.

    The deal added nearly 2 million traders to its ecosystem and allowed Kraken to diversify beyond cryptocurrencies into broader financial markets.

    With the acquisition, Kraken now offers trading in futures contracts tied to commodities, forex, and equities — a strategic pivot aimed at reducing the platform’s reliance on crypto market cycles.

    The company said its institutional strategy will continue evolving throughout 2025, with further integrations and platform improvements in the pipeline.

    Its diversification into adjacent markets mirrors a trend seen across the industry, as exchanges seek to weather periods of low volatility and attract capital from outside the crypto-native audience.

    Challenges ahead despite strong Q1

    Despite the growth, Kraken still faces key operational and competitive challenges.

    The exchange operates in an increasingly saturated market, with Binance, Coinbase, and several Asia-based players aggressively pursuing global market share.

    Maintaining user growth will likely require continued product innovation and regional expansion.

    The company’s revenue model remains closely tied to trading volume, which makes it vulnerable to market consolidation or prolonged bearish cycles.

    While early 2025 benefited from speculative tailwinds, any cooling of the Bitcoin rally could impact the next quarter’s results.

    Kraken must navigate a fluid regulatory environment.

    While the Trump administration has signalled support for digital assets, regulatory oversight from the Securities and Exchange Commission and other agencies continues to evolve.

    Global compliance requirements may also pose hurdles as Kraken pushes into new geographies, including Asia.

    The company’s blog post dated 1 May 2025 hinted at plans for expanding Kraken Pay and on-chain staking services, offering a potential path to more stable, recurring revenue.

    However, execution risks remain, especially as competition intensifies and regulatory clarity remains inconsistent across jurisdictions.

    Share this article
    Categories
    Tags

    Source link

  • Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Coinbase will delist Wrapped Bitcoin (WBTC) on December 19, 2024

    • The shares will accumulate cumulative dividends at a fixed rate of 10% each year
    • Strategy said that dividend payments will begin paying out on June 30, 2025
    • To date, Strategy holds under 500k Bitcoin, valued at over $40 billion

    Strategy is planning to offer five million shares of the company’s Series A perpetual strife preferred stock, $STRF, as it works on acquiring more Bitcoin.

    In an announcement, Michael Saylor’s Strategy said it intends to use the proceeds for “general corporate purposes,” including the “acquisition of Bitcoin.” However, it noted that this was “subject to market, and other conditions.”

    According to the company, the shares will accumulate cumulative dividends at a fixed rate of 10% per year. Dividends will be paid out beginning on June 30, 2025 “out of funds legally available for their payment,” Strategy said.

    Raising funds for Bitcoin

    The news comes as Strategy announced earlier this month that it’s planning to issue and sell shares of up to $21 billion in its at-the-market (ATM) program.

    Through selling shares of its 8.00% Series A perpetual strike preferred stock, $STRK, Strategy said the additional capital will be used for general corporate operations, including the purchase of more Bitcoin.

    The latest news also follows a recent Bitcoin purchase Strategy made in an announcement yesterday. In a post on X, Saylor said it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per Bitcoin.

    To date, Strategy now holds 499,226 Bitcoin, valued at $40.92 billion, according to SaylorTracker.com.

    Peter Schiff, a long-time opponent of Bitcoin, commented on Saylor’s tweet, saying: “Is that all you bought?  Seems like you are running out of fire power.”

    Crypto prices decline

    News of Strategy’s recent Bitcoin purchase and its share offering comes as crypto prices across the market have seen a sharp decline.

    At the time of publishing, Bitcoin is trading around $81,000, a substantial drop from its all-time high of $109,000 reached in January ahead of US President Donald Trump’s inauguration.

    Market conditions and geopolitical issues continue to impact prices despite Trump signing an executive order in March to create a Strategic Bitcoin Reserve.

    Share this article
    Categories
    Tags



    Source link