Home Blog Page 34

BitMine Stock Adds $1.2 Billion as Ethereum Rally Lifts Holdings to $14.9 Billion

Albert Brown
-
0
BitMine Stock Adds $1.2 Billion as Ethereum Rally Lifts Holdings to $14.9 Billion

BitMine Immersion Technologies shares surged Monday after the company disclosed that its cryptocurrency, cash and investment holdings had climbed to $14.9 billion.

BMNR traded at $24.83 as of 11:34 a.m. ET, up 8.76% from Friday’s $22.83 close. The stock opened at $23.60, while approximately 34.9 million shares had changed hands.

Using the 603.23 million shares, BitMine’s estimated market capitalization reached $14.98 billion.

The $2 increase in BMNR’s share price added approximately $1.21 billion to the company’s market value during Monday’s session.

Why Is BitMine Stock Rising Today?

The identifiable catalyst was BitMine’s latest treasury update, released at 8:30 a.m. ET.

BitMine said its combined cryptocurrency holdings, cash, marketable securities and investments totaled $14.9 billion as of August 23. That represents a $3.5 billion, or 30.7%, increase from the $11.4 billion reported one week earlier.

The company’s holdings included:

  • 5,847,611 ETH valued at $2,440 each
  • 210 Bitcoin
  • $308 million in cash and marketable securities
  • A $180 million investment in Beast Industries
  • An $89 million investment in Eightco Holdings

BitMine acquired an additional 32,447 ETH during the week. Its Ethereum position now represents approximately 4.8% of ETH’s reported circulating supply of 120.7 million tokens, according to the company’s August 24 announcement.

Ethereum Rally Drives Most of the Increase

Most of the weekly increase in BitMine’s reported holdings came from Ethereum’s higher market price rather than newly purchased tokens.

BitMine valued its 5,815,164 ETH at $1,893 each in its August 17 update. The latest announcement used a price of $2,440.

Applying the $547 increase to the previous Ethereum balance produces a gross valuation gain of approximately $3.18 billion.

The additional 32,447 ETH was worth roughly $79 million at BitMine’s latest reference price. Cash and marketable securities also increased from $78 million to $308 million, while the reported value of the Eightco investment rose from $73 million to $89 million.

Ethereum gained approximately 30% during the week, its strongest weekly performance since May 2025, according to BitMine.

Holdings Nearly Match BitMine Market Capitalization

At BMNR’s intraday price of $24.83, BitMine estimated $14.98 billion market capitalization was only about $80 million above the company’s reported $14.9 billion in holdings.

The two figures were separated by less than 1% at the captured share price.

However, the $14.9 billion figure represents gross holdings rather than net asset value. It does not deduct liabilities or preferred stock claims and includes investments whose values can fluctuate.

BitMine reported that 5,067,309 ETH were staked. Those tokens were worth approximately $12.4 billion using the company’s $2,440 reference price.

The number of staked tokens was unchanged from the previous week, but their reported value increased from approximately $9.6 billion because of Ethereum’s price appreciation.

BMNR Heads Toward a Fourth Consecutive Gain

Monday’s advance placed BMNR on course for its fourth consecutive positive session.

The stock gained 10.72% on August 19, 6.57% on August 20 and 5.84% on August 21. From its August 18 closing price of $18.28 to Monday’s intraday quote of $24.83, BMNR had advanced 35.83%.

Based on the current share count, that increase added approximately $3.95 billion to BitMine’s estimated market capitalization.

The fourth consecutive gain will only be confirmed if BMNR finishes Monday above Friday’s $22.83 closing price.

BitMine Tokenized Stock Also Rises

BMNRB, the tokenized BitMine stock available through Binance, traded near $22.93 on a separate market feed, gaining approximately 0.9% over 24 hours.

The token recorded approximately $3.9 million in daily trading volume and had a circulating market capitalization of about $4.3 million, according to CoinMarketCap.

BMNRB’s market capitalization represents only the circulating value of the tokenized product. It should not be confused with BitMine’s corporate market value.

The BMNR and BMNRB prices were captured from separate feeds and at different times. Different trading windows, liquidity levels and spreads can cause their quoted prices and percentage changes to diverge temporarily.

The Verdict

BitMine Monday rally followed a verified increase in its reported holdings to $14.9 billion, the acquisition of another 32,447 ETH and Ethereum’s 30% weekly advance.

The most important driver was the revaluation of BitMine’s existing Ethereum position. Approximately $3.18 billion of the company’s $3.5 billion weekly increase can be attributed to the higher price applied to the ETH it already held.

BitMine gross holdings nearly matched its common-stock market capitalization at Monday’s captured price. However, investors should not treat that comparison as net asset value because the holdings figure does not deduct liabilities or preferred stock claims.

XRP ETFs Pull in Nearly $40M, Marking Best Week Since May

Sam Wisdom Raphael
-
0
XRP ETFs Pull in Nearly $40M, Marking Best Week Since May

XRP ETFs recorded nearly $40 million in inflows last week, marking their strongest weekly performance in three months. 

Notably, the impressive showing came as XRP recovered and recently moved back above the $1.40 level during a broader market recovery that allowed most assets to reclaim some of their losses last week.

XRP ETFs Post Strong Weekly Inflows

For the week ending Aug. 21, XRP ETFs recorded exactly $39.78 million in inflows, according to data from Sosovalue, a leading market analytics platform. 

However, the week started slowly, with the products recording zero flows on Aug. 17. Inflows then reached $5.81 million on Aug. 18, before falling to $2.35 million the next day. At the time, XRP had yet to fully benefit from the broader market rally that started at the start of the week.

Interestingly, XRP’s price action improved on Aug. 19, when the token gained 10.40%. The rally continued on Aug. 20, with XRP rising another 14.68% and closing above $1.26. 

Expectedly, the improving price action resulted in an increase in investor interest, as XRP ETFs recorded $13.24 million in inflows on Aug. 20. At the time, this marked their largest single-day inflow since June 29.

XRP ETFs See Record Weekly Volume

The momentum continued on Aug. 21, when XRP ETFs attracted $18.38 million in inflows. This was the largest daily inflow of the week and made a major contribution to the final $39.78 million weekly total.

The last time XRP ETFs recorded weekly inflows of this size came during the week ending May 15, when the products attracted $60.5 million. Although last week’s figure fell short of the May total, it still marked the ETFs’ strongest weekly performance since then.

XRP ETFs Weekly Flows
XRP ETFs Weekly Flows | Source: Sosovalue

XRP ETFs also recorded much higher trading activity last week than they did in May. Their total weekly trading volume reached $271 million, while investors added $39.78 million to the products. By comparison, the week ending May 15 recorded only $137.21 million in total trading volume, even as inflows reached $60.5 million.

Last week’s $271 million trading volume also set a new weekly record for XRP ETFs since their launch in November 2025. The figure surpassed the previous record of $218.97 million, set by the products during the week ending Jan. 9, 2026.

Six-Week Inflow Streak

The latest results also extended XRP ETFs’ weekly inflow streak to six consecutive weeks, despite XRP’s continued price struggles. Since mid-July, the products have recorded positive weekly flows, although most of the weekly totals remained relatively small.

For instance, XRP ETFs saw $1.01 million in inflows during the week ending Aug. 7 and $2.25 million during the week ending Aug. 14. Daily flows have also remained positive throughout August, with only one trading day producing an outflow.

This exception came on Aug. 5, when XRP ETFs recorded $3.58 million in outflows. Apart from that session, August has so far produced either positive or neutral daily flows, confirming steady ETF demand despite the price struggles.

The steady inflows have pushed cumulative net inflows into XRP ETFs to $1.55 billion, setting a new all-time high. Meanwhile, total net assets have also climbed to $1.33 billion.

AXT Erases $2.1 Billion in Five Day Slide, Equal to 16.6 Times Its Annual Sales

Albert Brown
-
0
AXT Erases $2.1 Billion in Five Day Slide, Equal to 16.6 Times Its Annual Sales

AXT Inc. shares extended their decline Monday, cutting approximately $459 million from the semiconductor materials company’s market capitalization during the first hour of trading.

AXTI traded at $63.59 as of 10:15 a.m. Eastern Time, down 10.11% from Friday’s $70.74 close. The stock opened at $66.63 and traded between $61.86 and $67.20, while volume reached 3.14 million shares.

Using AXT’s 64.2 million outstanding shares, the company’s implied market capitalization stood at approximately $4.08 billion, according to StockAnalysis.

At the session low of $61.86, AXTI was down 12.55%, briefly reducing AXT’s market capitalization to approximately $3.97 billion.

AXT Has Lost $2.08 Billion Since August 17

Monday’s decline placed AXT on course for its fifth consecutive losing session.

AXTI closed at $95.97 on August 17 before falling:

  • 14.23% on August 18
  • 10.79% on August 19
  • 0.42% on August 20
  • 3.25% on August 21

The stock finished Friday at $70.74, according to historical trading data.

From the August 17 close to Monday’s $63.59 price, AXTI had fallen $32.38 per share, or 33.74%. Based on 64.2 million shares, that decline erased approximately $2.08 billion from AXT’s market capitalization.

Monday would officially become the fifth consecutive losing session only if AXTI closes below Friday’s $70.74 price.

Valuation Loss Equals 16.6 Times AXT’s Annual Revenue

AXT generated approximately $125.51 million in revenue over the preceding 12 months.

The $2.08 billion reduction in market capitalization since August 17 therefore equals approximately 16.6 times the company’s trailing annual revenue.

Monday’s $459 million intraday valuation decline alone was approximately 9.6 times the $47.6 million in revenue AXT reported for its second quarter.

Even after the selloff, AXT’s approximately $4.08 billion valuation remained equal to roughly 32.5 times its trailing revenue.

These comparisons measure changes in stock market valuation. They do not represent operating losses or cash leaving AXT’s business.

No New AXT Announcement Accompanied the Drop

AXT had not published a new earnings release, financial forecast or material operating announcement on Monday at the time of writing.

The company’s latest listed press release was issued on August 17 and announced participation in three investor conferences. It did not contain new revenue, earnings or operating guidance.

The scheduled events were:

  • Needham’s Virtual Semiconductor and SemiCap Conference on August 20
  • B. Riley Securities’ Consumer and TMT Conference on September 10
  • Morgan Stanley’s ASIA Best Corporate Day on September 21 and 22

Nasdaq carried the conference announcement. No new publicly disclosed company development could therefore be identified as a separate catalyst for Monday’s decline.

Optical and AI Hardware Stocks Fall Together

AXT’s decline occurred alongside losses across several optical networking, memory and AI hardware companies.

Lumentum, which has a long term indium phosphide supply agreement with AXT, was down 7.8% at $799.14 as of 10:07 a.m. Eastern Time.

Coherent fell 7.58% to $267.57 at 10:10 a.m., while Micron declined approximately 6.8% later in the morning.

Applied Optoelectronics fell approximately 15%, although its decline followed a separate company specific disclosure. The company entered an agreement allowing it to sell as much as $600 million in common stock through an at the market offering program, according to its regulatory filing.

Nasdaq futures had fallen approximately 0.5% before the opening bell as investors reduced exposure to technology stocks ahead of Nvidia’s Wednesday earnings report.

The simultaneous declines establish that AXT was trading within a broader hardware selloff. They do not establish an undisclosed company specific cause for AXTI’s decline.

AXT’s Latest Financial Results Remain Unchanged

AXT’s latest reported quarter produced revenue of $47.6 million, up from $18 million one year earlier.

GAAP gross margin increased to 44.9%, while the company recorded GAAP net income of $11.1 million, or $0.17 per diluted share. The figures remain unchanged from AXT’s July 30 earnings release.

On July 29, AXT also announced an indium phosphide wafer supply and capacity reservation agreement with Lumentum running through December 2031.

The agreement includes an initial $43.5 million deposit due within 30 business days and a second planned $43.5 million deposit whose timing and terms will be determined during 2028.

Both deposits will be applied as credits against future product shipments, according to AXT’s official announcement.

None of those previously disclosed financial or contractual terms changed Monday.

AXT Tokenized Stock Remains Below Its August Peak

AXTIon, Ondo Finance’s tokenized version of AXT stock, was quoted at approximately $68.34.

CoinMarketCap reported:

  • Approximately $104,800 in 24 hour trading volume
  • A token market capitalization of roughly $208,550
  • A circulating supply of approximately 3,052 AXTIon
  • An all time high of $97.34 reached on August 17

At $68.34, the token was approximately 29.8% below its record high, according to CoinMarketCap.

AXTIon is designed to provide economic exposure linked to AXT shares. However, it is not the same security as Nasdaq listed AXTI.

The token and underlying stock prices were taken from different market feeds and timestamps. Liquidity, update timing and trading windows can temporarily produce different quoted prices.

The verified conclusion is that Monday’s decline extended AXT’s market value contraction without a new earnings release, guidance reduction or material operating announcement. The five session losing streak will be confirmed only if AXTI finishes Monday below $70.74.

Needham’s $123 Robinhood Target Would Add Nearly $15 Billion in Market Value

Albert Brown
-
0
Needham’s $123 Robinhood Target Would Add Nearly $15 Billion in Market Value

Needham has raised its Robinhood Markets price target to $123 from $120 while maintaining a Buy rating on the brokerage platform, according to an MT Newswires alert released Monday.

The $3 adjustment represents a 2.5% increase from Needham’s previous target. However, the new figure restores the $123 objective that the firm held before Robinhood’s second quarter earnings report rather than establishing a new record target.

Robinhood shares traded near $106.40 at 9:59 a.m. Eastern Time, down 1.6% from Friday’s $108.13 close. From that price, Needham’s target implies an increase of $16.60 per share, or approximately 15.6%.

$123 Target Values Robinhood at $110.6 Billion

Robinhood has approximately 899.08 million combined Class A and Class B shares outstanding.

At $106.40, the company had an implied market capitalization of roughly $95.66 billion. A share price of $123 would value the same outstanding equity at approximately $110.59 billion.

That means Needham’s target represents about $14.92 billion in potential additional market capitalization from Monday morning’s valuation.

Robinhood opened at $106.86 and traded between $104.41 and $108.60 during the early session. The shares remained below Friday’s close following the analyst update, according to market data available at the time.

The lack of an immediate rally indicates that the $3 target increase had not produced a sustained positive price reaction during early trading.

Needham Reverses Its Post Earnings Reduction

Needham previously raised Robinhood’s target from $97 to $123 on July 21 while maintaining a Buy rating.

The firm cited strength across equities, options and event contract activity, alongside improved operating metrics.

Needham then lowered the target from $123 to $120 on July 30 following Robinhood’s second quarter report. The Buy rating remained unchanged.

Needham said Robinhood narrowly missed the firm’s revenue forecast while exceeding its earnings estimate, primarily because expenses were below expectations.

That should not be confused with Robinhood’s performance against the broader Wall Street consensus. Robinhood reported $1.31 billion in second quarter revenue and generally exceeded analysts’ published revenue and earnings estimates.

The company recorded all time highs in equity, options and event contract activity. Robinhood users traded 13.6 billion event contracts during the quarter, representing an increase of more than tenfold from the previous year, according to the company’s official financial results.

Needham’s July note also said equity and options activity remained near second quarter levels during July, while cryptocurrency activity was comparatively muted.

Monday’s adjustment returns the target to $123 and reverses the entire reduction made following earnings. The initial MT Newswires alert did not include a detailed explanation or updated financial estimates.

Needham Target Sits Above the Wall Street Average

The average 12 month price target among 28 analysts covering Robinhood stood at approximately $119.93, according to S&P Global data compiled by StockAnalysis.

Needham’s new target is $3.07, or approximately 2.6%, above that consensus.

However, the $123 objective remains below several other published targets. Bernstein maintains a $160 target and an Outperform rating. Other recent targets include $127 from Jefferies, $118 from Goldman Sachs and $105 from Barclays.

Robinhood generated approximately $4.93 billion in trailing 12 month revenue, representing growth of 38.3%. Net income totaled about $2.07 billion, while trailing earnings reached $2.26 per share.

At Monday morning’s price, Robinhood traded at approximately 47 times trailing earnings and around 45 times estimated forward earnings.

Robinhood Tokenized Stock Trades Near $108

Robinhood Tokenized bStock also remained active following the analyst update.

HOODB traded near $107.52, with approximately $2.58 million in 24 hour volume, according to CoinMarketCap. Its reported trading range was between $107.14 and $109.71.

CoinMarketCap reported:

  • A tokenized market capitalization of approximately $1.33 million
  • A circulating supply of roughly 12,390 HOODB
  • Approximately 4,010 recorded token holders
  • A 24 hour gain of 0.29%

The latest indexed quote for the HOODB/USDT pair on Binance was approximately $108.60. That quote and CoinMarketCap’s price reflected different update times.

Needham’s $123 target applies to Robinhood’s Nasdaq listed shares. HOODB is designed to provide economic exposure to the underlying equity, but its price can temporarily differ because of liquidity, trading hours and spreads.

The analyst target therefore supports a potential valuation scenario for both HOOD and its tokenized counterpart. It does not represent a guaranteed future price for either asset.

SanDisk Loses $24 Billion as Samsung Selloff Erases 80% of Investor Day Rally

Albert Brown
-
0
SanDisk Loses $24 Billion as Samsung Selloff Erases 80% of Investor Day Rally

SanDisk shares fell more than 10% Monday as disappointment over Samsung Electronics’ shareholder return plan spread across the global memory and storage sector.

SNDK traded near $1,433 at 9:58 a.m. Eastern Time, down $163.08, or 10.22%, from Friday’s $1,596.08 close. The stock opened at $1,494.09 and fell to an intraday low of $1,432.01, according to real time market data.

Using SanDisk’s 146.42 million outstanding shares, the decline removed approximately $23.88 billion from the company’s market capitalization. Its implied equity value fell to about $209.82 billion.

Samsung’s 9% Drop Spreads Across Memory Stocks

The sector wide selloff followed an approximately 9% decline in Samsung Electronics shares in South Korea.

Samsung announced plans to return between 90 trillion won and 110 trillion won, approximately $65 billion to $80 billion, to shareholders during 2026. The program includes approximately 30 trillion won in third quarter cash dividends.

Samsung also approved a 15 trillion won share buyback intended for employee compensation. However, it did not announce a broader share cancellation commitment comparable with the program recently introduced by SK hynix.

The remaining shareholder returns will be determined in January 2027 and may include dividends, share repurchases and cancellations, according to Samsung’s official announcement.

Investors had expected greater clarity on how much of Samsung’s cash would be used for buybacks and cancellations. The uncertainty helped produce Samsung’s worst trading session in three weeks.

SK hynix previously approved a separate program to repurchase and cancel 40 trillion won, or approximately $28.6 billion, of its shares. The company plans to acquire roughly 24.07 million shares, representing about 3.3% of its issued stock, between August 20 and November 19.

Early US trading showed losses across several memory and storage companies, including SanDisk, Micron Technology, SK hynix’s American depositary shares, Seagate Technology and Western Digital.

SanDisk recorded the largest percentage decline among those companies during the early trading period reviewed.

No New SanDisk Earnings Report or Guidance Cut

SanDisk had not released new earnings, reduced its financial guidance or announced a material operating setback before Monday’s decline.

The company’s latest major strategy update came during its August 13 Investor Day.

SanDisk projected mid to high teen annual revenue growth between fiscal 2028 and fiscal 2030. It also outlined long term non GAAP gross margins of approximately 80% and operating margins of roughly 75%.

The company said its multiyear customer agreements represented approximately 50% of expected fiscal 2027 bit production and around two thirds of fiscal 2028 production, according to its Investor Day announcement.

The absence of a new SanDisk disclosure indicates that Monday’s decline was tied primarily to the broader memory sector selloff rather than a newly announced company specific setback.

SanDisk Erases 80% of Its Investor Day Rally

SanDisk closed at $1,344.29 on August 12, immediately before its Investor Day announcement.

The shares subsequently climbed to $1,786.85 by August 17, gaining $442.56 per share. Based on the current share count, that advance added approximately $64.8 billion to SanDisk’s market capitalization.

Monday’s decline to $1,433 left the stock $353.85 below its August 17 closing level.

That retreat removed approximately $51.8 billion in market value and erased almost 80% of the price increase recorded between August 12 and August 17.

Despite the reversal, SanDisk remained approximately 6.6% above its pre Investor Day closing price. The stock was also about 39.1% below its 52 week high of $2,354.39.

SanDisk Tokenized Stock Falls on Binance

SanDisk Tokenized bStock also moved lower.

At Binance’s stated update time of 10:46 UTC, SNDKB traded at approximately $1,517.45, representing a 4.48% decline over the preceding 24 hours.

Binance reported:

  • A tokenized market capitalization of approximately $32.3 million
  • Trading volume of around $22.4 million over 24 hours
  • A circulating supply of approximately 21,300 SNDKB

The Binance figures were recorded before the later $1,433 quote for the underlying Nasdaq stock. SNDKB’s rolling 24 hour return also uses a different measurement period from SNDK’s regular market session.

The difference therefore does not indicate that tokenized traders were necessarily more optimistic about SanDisk. It primarily reflects different timestamps, trading windows and market liquidity.

What the Decline Means for SNDK and SNDKB

The available evidence supports a sectorwide memory selloff rather than a new deterioration in SanDisk’s operating outlook.

Samsung’s record shareholder return plan disappointed investors because it did not provide the level of buyback and cancellation clarity offered by SK hynix. That reaction spread from Asian memory shares to US listed storage companies.

SanDisk experienced the largest early decline among the major companies compared, partly reversing the valuation increase that followed its Investor Day.

The immediate pressure on SNDK and SNDKB is therefore connected to a broader reassessment of memory sector valuations. SanDisk’s next company specific test will be whether it can deliver the revenue growth, margins and customer commitments outlined during its Investor Day.

XRP at $3.40 Won’t Shock Me, Says Canary Capital CEO, Shares Bold Timeline

Abdulkarim Abdulwahab
-
0
XRP at $3.40 Won’t Shock Me, Says Canary Capital CEO, Shares Bold Timeline

Canary Capital CEO Steven McClurg says he wouldn’t be surprised if XRP rises above $3.40 within the next few months as institutional lending and yield products grow on XRP Ledger (XRPL).

In a recent interview with Paul Barron, McClurg said XRP’s recent rise is being driven by increased activity on the XRPL, including institutional lending, credit and yield opportunities.

At press time, XRP was around $1.50, up 49% in a week. It had risen from about $0.9882 to as high as $1.70. That’s a gain of more than 70% from its weekly low.

XRP Ledger Will Be the Winner for Financial Rails

McClurg also made a broader prediction about the role XRP will play in institutional finance. 

“I’ve said for a few years now that the winner for financial rails for a protocol is going to be XRP,” he said.

His argument centers on the different requirements of institutional and retail markets. While retail users may favor decentralized networks, McClurg believes financial institutions prefer infrastructure with greater centralization and compliance capabilities.

“Institutions need centralization,” he said, arguing that XRP Ledger’s characteristics make it attractive for institutional financial applications.

McClurg also pointed to the introduction of yield on the XRP Ledger as a catalyst for capital inflows. In his view, the ability to generate returns from assets within the ecosystem makes XRPL more attractive to institutions and holders.

Institutional Lending to Change the Market

Meanwhile, the Canary Capital executive highlighted recent developments bringing institutional-grade credit and lending to XRPL. Specifically, the discussion mentioned Cicada Credit, which brings lending expertise and borrowers to the ecosystem, and Clearpool, which provides infrastructure for institutional lending.

McClurg called the opportunity “massive” and said the lending market could grow far beyond the $1–2 billion range discussed in the interview. He also said the strong demand for these new products is a positive sign, even though the market is still young. 

For XRP holders, more lending activity means more uses for XRP and more money flowing through the XRP Ledger.

Crypto Still in a Bear Market

Despite his bullish XRP price target, McClurg said he does not believe the crypto market has entered a confirmed bull market yet. “I still think that we’re in a bear market in crypto,” he said.

McClurg pointed to September’s historically weak seasonal performance and the upcoming U.S. midterm elections as sources of volatility. He suggested that a clearer crypto bull market may not emerge until after the midterms or even into January 2027.

That outlook means he views XRP’s recent move as short-lived. Still, McClurg acknowledged that XRP has established new pricing levels and said another 40% move in 2026 or early 2027 is possible.

In other words, a move above $3 may appear ambitious. But the Canary Capital CEO believes XRP’s price above $3.40 within the next year would not shock him.

South Korea Emerges as a Key XRP Market

McClurg also discussed XRP’s strong trading activity in South Korea, where the coin has become one of the market’s prominent crypto assets.

For context, recent data showed XRP trading volume on Upbit had surged 273% since March. McClurg attributed South Korea’s outsized crypto trading activity partly to the Korean won’s importance as a crypto trading pair.

He went further, saying he expects XRP to become a clear winner among blockchain protocols in South Korea.

While Ethereum remains dominant in markets such as Canada and the United States, McClurg argued that XRP has established a stronger position in South Korea.

XRP Records Explosive $15.4B Daily Volume in Biggest Trading Surge of 2026

Sam Wisdom Raphael
-
0
XRP Records Explosive $15.4B Daily Volume in Biggest Trading Surge of 2026

Amid the latest market recovery, XRP recently crossed $15 billion in daily trading volume, marking the largest record of this year, 2026.

The crypto market recently began recovering after months of sustained selling pressure. Notably, the global crypto market cap added $474 billion last week, giving major cryptocurrencies room to recover from their recent losses.

XRP was one of the biggest winners among the top 100 crypto assets. The token gained 53% last week, marking its best weekly performance since November 2024. Along with the strong price increase, XRP also saw a spike in trading activity, with fresh data showing its highest daily trading volume in nearly a year.

XRP Records $15.4B in Daily Volume

Data from CoinMarketCap shows that XRP recorded $15.4 billion in 24-hour trading volume on Saturday, Aug. 22. 

XRP Daily Trade Volume
XRP Daily Trade Volume | Source: CoinMarketCap

This marked the first time XRP’s daily volume crossed $12 billion this year and the highest volume since the Oct. 10, 2025, crash. It also represented a 1,300% increase from XRP’s $1.1 billion average daily trading volume in August.

The Aug. 22 figure also beat XRP’s previous yearly volume record of $11.836 billion by 30%. For context, XRP set this earlier record during the recovery in early February. 

Specifically, on Feb. 5, XRP and the broader crypto market suffered a sharp sell-off, with XRP falling 19.71% to $1.21. During the decline, XRP recorded $11.34 billion in daily trading volume, which was its yearly high at the time.

The market quickly recovered from the Feb. 5 sell-off. On Feb. 6, XRP jumped 21.07% to $1.46, while trading activity increased further. Traders exchanged $11.836 billion worth of XRP that day, setting a new yearly record for daily volume.

That $11.836 billion record stood for several months before XRP reached the much higher $15.4 billion figure on Aug. 22.

Record XRP Volume Brings Limited Price Gains

Despite the huge trading volume on Aug. 22, XRP bulls could not turn the activity into a major daily gain. XRP rose just 0.53% that day, even though the token experienced wide price swings during the session.

XRP Large Price Swings on Aug 22
XRP Large Price Swings on Aug 22

Notably, XRP climbed to as high as $1.69, a level it had last reached in late January. However, sellers stepped in around that area and pushed the price back toward $1.40. XRP eventually closed Aug. 22 at $1.46.

The next day produced an interesting contrast. On Aug. 23, XRP gained 3.96% to $1.51, even though its daily trading volume fell to $6.5 billion.

XRP Gives Back Some Recent Gains

However, XRP has started the new week on a weaker note, giving back some of the gains from last week’s rally. So far today, the token has fallen 2.58%, putting it on track for its first intraday loss since the rally began.

XRP Facing a Pullback
XRP Facing a Pullback

The decline has also pushed XRP below the $1.50 level. The token currently trades around $1.4805. However, the latest pullback has done little to erase XRP’s strong August performance. The cryptocurrency remains up 39.97% this month.

XRP has also made a major improvement in its yearly performance. The token now sits about 19% lower year-to-date, compared with a 42% loss at the start of August.

Hoskinson Defies Cardano Critics: “Don’t Bet Against Me, We’re Gonna Win This Fight”

Lele Jima
-
0
Hoskinson Defies Cardano Critics: “Don’t Bet Against Me, We’re Gonna Win This Fight”

Cardano founder Charles Hoskinson has once again echoed his confidence in the blockchain’s long-term prospects.

During a recent interview on The Breakdown with David Gokhshtein, Hoskinson delivered a blunt message to those questioning Cardano’s ability to recover and compete in the crypto industry, saying:

“Don’t bet against me, we’re gonna win this fight.”

The statement highlights Hoskinson’s continued determination to see Cardano succeed despite the challenges facing the network and its native crypto, ADA.

Hoskinson Pushes Back Against Cardano Critics

Cardano has faced mounting criticism over ADA’s weak market performance, governance disputes, ecosystem challenges, and struggles affecting some projects.

Moreover, the criticism has intensified following ADA’s sharp decline from previous market highs. As a result, some observers have questioned whether Cardano can maintain its position among the leading crypto projects.

Hoskinson, however, has rejected that narrative. Instead, he continues to encourage the Cardano community to focus on the network’s long-term potential. He has also previously expressed his ambition for Cardano to eventually become the world’s largest crypto by market cap.

ADA Rally Offers Fresh Optimism

Interestingly, ADA’s market performance improved after Hoskinson’s remarks.

The token climbed from $0.21 to $0.2577, representing a gain of roughly 22% over the weekend. However, ADA later surrendered part of those gains and fell toward $0.2207.

Nonetheless, the rally has given Cardano supporters renewed optimism following an extended period of disappointing price performance.

Cardano Focuses on Network Improvements

Hoskinson’s confidence extends beyond ADA’s price action. Meanwhile, Cardano developers and ecosystem participants continue to pursue upgrades designed to improve the network’s performance and expand its utility.

One major focus is Ouroboros Leios, which aims to increase Cardano’s transaction-processing capacity significantly. Similarly, Hydra remains a key scaling initiative designed to support faster and more efficient transactions through Layer-2 technology.

These developments are particularly important as Cardano competes with ecosystems such as Ethereum and Solana, where scalability, applications, speed, and user adoption remain major competitive advantages.

Cardano’s DeFi Ambitions 

Cardano is also expanding its ecosystem through initiatives targeting decentralized finance and real-world financial applications.

In particular, efforts involving Bitcoin DeFi, AlphaGrowth Cardano PRIME, and RealFi aim to attract more users and capital to the network. If these initiatives generate greater adoption and increase total value locked (TVL), they could strengthen Cardano’s fundamentals.

Ultimately, Hoskinson’s latest comments show that he remains focused on Cardano’s long-term growth despite the criticism surrounding the ecosystem. Whether the network can translate its ongoing development efforts into stronger adoption and market performance, however, remains a key question for the Cardano community. 

SpaceX Reclaims $135 IPO Price as Tokenized Volume Tops $90 Million

Albert Brown
-
0
SpaceX Reclaims $135 IPO Price as Tokenized Volume Tops $90 Million

SpaceX stock recovered from an early Friday decline and moved back above its $135 initial public offering price as trading volume in the tokenized SpaceX market surpassed $90 million.

SPCX fell as low as $131.22 shortly after the market opened before recovering to approximately $136.29 at 12:32 p.m. Eastern Time. That represented a rebound of about 3.9% from the session low and a gain of 1.7% from Thursday’s $134 closing price.

The stock reached an intraday high of $137.35, briefly rising 4.7% from its morning low.

Based on approximately 13.18 billion outstanding shares, SpaceX had an implied market capitalization of roughly $1.8 trillion at $136.29. Friday’s gain from the previous close had restored approximately $30.2 billion in market value at that point, according to current market data.

These estimates will continue changing until the market closes.

Tokenized SpaceX Volume Reaches $90.82 Million

Strong activity was also visible in the tokenized stock market.

CoinMarketCap reported an average tokenized SpaceX price of approximately $136.12, closely matching the underlying Nasdaq listed shares. The tokenized market capitalization shown by the platform stood near $203.94 million.

More notably, the tracked tokenized SpaceX market generated approximately $90.82 million in 24 hour trading volume. Its rolling 24 hour return reached 6.74%.

The $90.82 million figure is CoinMarketCap’s reported volume for the tokenized SpaceX market it tracks. It should not be described as Binance volume alone. However, the available page also does not establish that the figure combines several independently issued SpaceX products.

On Binance, SpaceX bStock traded under the SPCXB/USDT pair at approximately $136.51. That placed it close to both the underlying stock and CoinMarketCap’s tokenized price.

Temporary differences can occur because SPCX and SPCXB operate under different trading hours, liquidity conditions and price measurement periods.

Recovery Follows 319 Million Share Unlock

The rebound came one day after approximately 319 million additional SpaceX shares became eligible for trading under the company’s staggered post IPO lockup schedule.

The latest release followed the unlocking of roughly 911.5 million shares on August 6.

A lockup expiration allows employees and early investors to sell previously restricted shares. It does not mean all eligible shares were immediately sold.

SpaceX fell 4.05% Thursday to $134 and briefly remained below its IPO price Friday morning. Its subsequent move above $135 shows that buying demand strengthened during the session despite concerns about the expanded tradable supply.

However, the recovery does not prove that investors purchased all the newly eligible shares because the number actually sold has not been disclosed.

SPCX had declined for three consecutive sessions before Friday, falling from $146.23 on August 17 to $134 on August 20. That 8.4% decline removed an estimated $161 billion from SpaceX’s market capitalization.

Friday’s rebound restored only part of that loss.

New US Space Policy Provides a Favorable Backdrop

SpaceX’s recovery also followed the August 20 release of an updated US National Space Transportation Policy.

The policy directs federal agencies to support more than 1,000 launches and reentries from US territory annually by 2030. It also calls for faster regulatory reviews, additional launch and reentry infrastructure and improved access to wireless spectrum for commercial space operations.

The US Office of Space Commerce described the framework as an effort to expand American commercial space activity through more reliable and affordable transportation.

The policy does not award SpaceX a new contract. However, its emphasis on increasing launch capacity is relevant to SpaceX because the company is the largest commercial launch provider in the United States.

The timing provides a supportive industry backdrop, although it cannot be identified as the sole cause of Friday’s stock recovery.

What Comes Next for SPCX and SPCXB

Friday’s rebound is moderately positive because SpaceX regained its IPO price after briefly falling below it and trading volume remained elevated in the tokenized market.

Nevertheless, SPCX remains below its August 17 closing price of $146.23 and substantially below its post IPO record of $225.64.

The clearest takeaway is that SpaceX traded back above $135 despite another lockup expiration, while CoinMarketCap reported more than $90 million in tokenized SpaceX volume.

Investors should watch whether SPCX can close above its IPO price and whether selling from newly eligible shareholders increases during the coming sessions.

XRP Whales Scoop Up 300 Million XRP, Driving Its Valuation by $24B

Abdulkarim Abdulwahab
-
0
XRP Whales Scoop Up 300 Million XRP, Driving Its Valuation by $24B

XRP whales are making a major return to the market, with more than 300 million XRP accumulated as the coin stages one of its strongest price rallies of the year.

Analyst Ali Martinez highlighted the whale activity in a post on X, saying whales are going crazy. Citing data from Santiment, he revealed whales had scooped up more than 300 million XRP in just four days.

The accumulation comes as the coin has delivered a massive breakout this week. The token is up roughly 20% over the past 24 hours and has climbed about 39% over the past seven days. It briefly reached $1.40 today after trading at $0.989 earlier in the week.

Ali Martinez Sees XRP Reaching $1.6

Notably, Martinez turned bullish on XRP earlier this month, arguing that on-chain data suggested the token was preparing for a potential bull run.

On August 9, the analyst pointed out that nearly 3 billion XRP had been transacted around XRP’s then-current price level. He argued that a monthly close above that zone could open the door toward $1.35, followed potentially by $1.64.

After XRP’s latest surge, one user asked Martinez how high the token could rise before retracing. In response, he suggested $1.35 as a possible level. “I believe $1.25 to $1.35 based on on-chain data,” he said.

His projected range now comes as XRP has already pushed through the $1.20 level and reclaimed prices not seen since mid-May.

Among Biggest Gainers

The latest whale accumulation coincides with the overall crypto market recovery that has lifted the total market capitalization by roughly $440 billion since August 17.

XRP has been among the biggest beneficiaries. Its market capitalization has surged by nearly $24 billion in just three days to approximately $86.82 billion.

The rally has also put XRP among the top weekly gainers, with the token up around 39% over seven days and more than 20% over the past day.

XRP’s move above $1.40 marks a significant technical recovery, as it had not traded at that level for roughly three months.

With whales now accumulating hundreds of millions of XRP and the price reclaiming key technical levels, traders are eyeing the psychological levels at $1.5, $1.8, and $2 as next potential targets, especially as ETFs are now seeing massive inflows.

1...333435...2,897Page 34 of 2,897