Home Blog Page 456

Experts Share Big XRP Price Targets for End of Q4 2025

Abdulkarim Abdulwahab
-
0
Experts Share Big XRP Price Targets for End of Q4 2025

While fear remains in the market, influential market commentators continue to reveal their year-end forecasts for major assets, including Bitcoin and XRP.

Among the latest to join the discussion are crypto influencers CryptoJulzss and Leshka.eth, both of whom expect a strong end to the year.

Bitcoin Price Outlook

Specifically, CryptoJulzss predicts that Bitcoin will reach $180,000 by the end of Q4 2025. This marks a potential new all-time high and would bring Bitcoin’s total market capitalization close to $3.5 trillion.

Meanwhile, Leshka.eth presents a slightly higher range, projecting BTC between $225,000 and $240,000. If realized, such a rally would push Bitcoin’s valuation beyond $4.5 trillion. It would further establish it as one of the world’s top 3 largest assets by market cap.

These projections are in line with the broader bullish consensus for 2025. Earlier market forecasters, including Ash Crypto and Mario Nawfal, also tied strong Bitcoin gains to renewed institutional demand, ETF inflows, and macroeconomic easing.

Speaking at the Money 20/20 conference this week, Strategy founder Michael Saylor predicted Bitcoin could reach $150,000 by the end of 2025. He cited positive U.S. regulatory developments, such as the SEC embracing tokenized securities and Treasury Secretary Scott Bessent endorsing stablecoins, as reasons for his bullish outlook.

XRP Poised for Major Upside

For XRP, CryptoJulzss and Leshka.eth foresee dramatic growth compared to its current price of around $2.50. CryptoJulzss predicts XRP could surge to $25 by the end of 2025. This represents a tenfold increase and positions the token for its highest valuation in history—over $1.5 trillion in market capitalization.

Meanwhile, Leshka.eth maintains a more conservative but still highly bullish view. Specifically, she projected XRP between $8.5 and $9. This estimate aligns with prior forecasts by Ash Crypto ($5–$8) and Mario Nawfal ($10 if BTC hits $225K).

These targets reflect growing optimism that Ripple’s ongoing institutional partnerships, the expansion of its payment network, and the approval of XRP ETFs could dramatically increase market demand for the token in late 2025.

Broader Market Outlook

Beyond XRP and Bitcoin, both analysts also shared expectations for other major assets. Notably, CryptoJulzss foresees Ethereum rising to $9,000 and Solana reaching $350. 

Meanwhile, Leshka.eth sets higher targets, expecting ETH between $11,000 and $13,000, SOL at $800–$900, and BNB between $2,800 and $3,300.

Leshka also projects Dogecoin climbing into the $1–$2.5 range and Chainlink breaking into triple digits, between $250 and $400.

While price targets vary, the overall sentiment among analysts and influencers is that the crypto market would see its most explosive phase in the final quarter of 2025. 

Although October has not met the historical expectations many anticipated, attention is now turning to November and December, which are also historically bullish months for crypto.

Wolf of All Streets Asks What Utility Does XRP Have After Western Union Snub

Abdulkarim Abdulwahab
-
0
Wolf of All Streets Asks What Utility Does XRP Have After Western Union Snub

Bitcoin commentator Scott Melker, widely known as The Wolf of All Streets, has stirred a new controversy around the relevance of XRP.

In a post on X, Melker questioned what real-world utility XRP holds in today’s evolving payments landscape, especially after major financial players opted for other blockchain networks.

“What is the current pitch for XRP? The token, not Ripple the company,” Melker asked.

His question comes as Western Union announced plans to launch its USDPT stablecoin on Solana.

XRP Ignored in $100B Cross-Border Volume

Indeed, Western Union’s move to Solana was one of the week’s biggest headlines. The company’s new stablecoin will go live in 2026.

The firm said its Digital Asset Network will bridge fiat and digital currencies, giving users global access to send, spend, and cash out stablecoins directly.

What drew attention, however, was the absence of Ripple or XRP in the plan. For years, Western Union ran XRP-based payment tests, but none progressed to full-scale adoption.

Instead, the 175-year-old company chose Solana to handle what could be over $100 billion per year in cross-border volume. This has reignited skepticism about XRP’s long-term role in the payments industry, once its strongest selling point.

Community Reactions

Melker’s post sparked a lively debate among XRP fans, with many sharing different views on XRP’s purpose.

X user Cripto ISO 22 argued that Melker’s question actually highlights what makes XRP unique. According to him, XRP isn’t meant to compete with stablecoins but to act as a bridge, moving liquidity between them and across financial networks.

He explained that stablecoins hold value within specific systems, while XRP enables “mobility for instant settlement.”

He also cited Ripple’s recent projects like GTreasury, RLUSD, and Evernorth as examples of XRP serving as a neutral link between digital and fiat money. “Stablecoins move within silos,” he wrote. “XRP moves value across them.”

Meanwhile, Melker was unconvinced, responding that this explanation “makes no sense” to him. He questioned why a volatile token is needed when a stablecoin could handle conversions without the risk of price swings.

Another user, OGCryptoAndNFTs, broadened the discussion to Bitcoin, questioning its real-world utility. He argued that few projects are built on it and that it isn’t widely used for tokenization or payments. “Besides a bunch of marketers telling everyone to buy,” he wrote, “what’s the actual use case?”

Melker replied that this was “kind of the point,” meaning Bitcoin doesn’t need to serve as a payment network to have value.

Another commenter described XRP as “the liquidity Swiss Army knife,” a phrase Melker dismissed by saying any asset can serve as liquidity.

XRP Ledger validator

Vet, an XRP Ledger validator, also joined the conversation. He said network preference often comes down to philosophy and design, noting that the XRP Ledger’s consensus algorithm, Layer-1 features, and security-focused structure make it well-suited for efficient money movement.

The Changing Face of Blockchain Payments

Melker’s comments highlight the ongoing shift in blockchain payments. Today, stablecoins, not volatile native tokens, are mostly driving cross-border innovation. Numerous financial institutions, particularly in the U.S., have disclosed plans to launch their own stablecoins for efficient payment transactions.

Among the major names are JPMorgan, Bank of America, and Citigroup, joining existing players like PayPal. The trend rose after the U.S. passed regulations for stablecoins in July. Even governments in countries like Kyrgyzstan are making moves on stablecoins.

SWIFT, once seen as Ripple’s rival, is testing blockchain settlements on Linea, an Ethereum Layer-2 network, bypassing XRP entirely.

Meanwhile, legal expert Bill Morgan highlighted that major institutions like Western Union or SWIFT choosing rival chains over XRP is a matter of adoption and commercial choice, not functional utility. To him, that does not diminish XRP’s relevance.

Analyst Says XRP Gearing to Melt Faces, Here’s Why

Sam Wisdom Raphael
-
0
Analyst Says XRP Gearing to Melt Faces, Here’s Why

A prominent analyst has identified similarities between the current price action and the 2017 run, suggesting that XRP is gearing to melt faces.

Notably, despite the latest resistance to the recent market recovery push, XRP has shown resilience, maintaining a 6.85% gain over the past week. For context, Bitcoin (BTC) only boasts a 1.21% increase within the same period, while Ethereum (ETH) has gained 1.16%.

“XRP Gearing to Melt Faces”

With XRP firmly holding above the $2.5 level, as it trades for $2.58 at press time, market analyst Ether Nasyonal has suggested that the altcoin could be moving toward an explosive run similar to what it observed from 2013 to 2018.

According to Ether Nasyonal, “XRP is quietly gearing up to melt faces.” He suggested that most investors are not aware of the token’s current bullish positioning, insisting that they are not ready for the imminent explosive run. This aligns with recent bullish commentaries from Cameron Scrubs, founder of Tradeship University.

However, Ether Nasyonal based his own comment on technical data. Specifically, the market analyst called attention to a previous analysis in which he identified a recurring pattern on the weekly XRP chart. Notably, the pattern led to XRP’s 2017/2018 run, and Ether Nasyonal believes it could result in another rally this time.

XRP’s Historical Price Trend

For context, after reaching the $0.0614 ATH resistance in December 2013, XRP collapsed considerably in the following months. Interestingly, when it recovered, the initial attempt to reclaim the December 2013 ATH failed, with XRP facing a lower resistance point at $0.0280 by December 2014. Ether Nasyonal’s chart identified this as a new demand zone.

Following the $0.0280 resistance at this demand zone, XRP collapsed again and continued to underperform for over two years. However, by March 2017, the token recovered and eventually overcame the demand zone at the December 2014 resistance of $0.0280. From here, it soared again to the higher December 2013 ATH resistance of $0.0614.

XRP Historical Trend Ether Nasyonal
XRP Historical Trend | Ether Nasyonal

After this, XRP pulled back to again retest the demand zone at $0.0280 before rebounding to finally surpass the $0.0614 peak. This allowed the token to reach a new all-time high of around $3.3 by January 2018.

A Repeat of the Pattern

Nonetheless, as was the case in December 2013, XRP corrected after the $3.3 ATH resistance. During the 2021 bull run, it again targeted the $3.3 peak, but failed to claim it. Instead, it faced a lower resistance at $1.9 in April 2021 before correcting for years. This formed a new demand zone.

When XRP recovered in November 2024, it overcame this demand zone at $1.9, soaring to hit the 2018 ATH resistance at $3.3 by January 2025. XRP has been flirting with this resistance throughout this year, occasionally dipping back to the demand zone at $1.9. This same pattern occurred in early 2017 before the explosive surge.

Now that XRP has again retested the demand zone, Ether Nasyonal believes it could trigger a run similar to the 2017 rally. However, the analyst failed to present any price targets for this imminent upsurge. Despite this, analysts such as EGRAG Crypto have suggested that XRP has the potential to reach $27.

‘XRP Won’t Teleport to $500,’ Analyst Shares Realistic Price Target

Abdulkarim Abdulwahab
-
0
‘XRP Won’t Teleport to $500,’ Analyst Shares Realistic Price Target

Crypto commentator Crypto Bitlord has once again stirred the XRP community with another aggressive price outlook.

This time, he envisions a world where XRP instantly “teleports” to $500 per coin, reshaping global finance.

XRP Teleporting to $500

In his post, Bitlord imagined a scenario where the U.S. administration uses “the premine to pay off the $35 trillion U.S. national debt.”

His statement suggests a speculative scenario in which the U.S. government leverages XRP tokens held in escrow to neutralize its debt, where the price of one XRP reaches $500 per token.

Meanwhile, Bitlord envisions this scenario playing out with “early holders becoming upper-class elite humanoids,” referring to the immense wealth that could result from XRP’s hypothetical $500 price.

Indeed, a $500 XRP would mean a fortune for holders. Specifically, even retail investors with just 1,000 XRP would find themselves sitting on a $500,000 fortune.

Bitlord also sees this development as significant enough to help the U.S. government offset its debt.

For context, Ripple holds around 35 billion XRP in escrow, which would amount to $17.5 trillion at $500 per XRP. While this may not eliminate the U.S. debt, which currently sits at $38 trillion, the speculative figure is enormous enough to make a dent in the national deficit.

Interestingly, Bitlord is not the first to make this proposition. Last week, a prominent U.S. TV commentator made a similar argument, suggesting the U.S. government could leverage XRP to overcome its debt. 

In their case, they proposed that the government deploy $1 trillion into the XRP market to push prices higher dramatically, then sell to realize profits, bring the price down, and buy back in to send it soaring again—repeating the cycle until enough profit is made to pay off the debt.

While Bitlord’s statement was clearly hyperbolic, it sparked discussion across the XRP community about how high XRP could realistically go in the next bull cycle.

No, “$13–$27 Is Realistic”

Responding to Bitlord’s post, technical analyst ChartNerd stated XRP will not teleport to $500. In his view, a realistic outlook for XRP this cycle could see it “teleport” to between $13 and $27.

This range also aligns with several community estimates, including prior discussions sparked by Bitlord’s earlier $21 target prediction. However, some market participants do not consider ChartNerd’s $13–$27 price range realistic.

“Understand market caps before posting this,” said X user PythiaCrypto. Others have called Bitlord’s earlier $21 target “a meme price” or “a myth,” saying it is too ambitious for the current market cycle.

$27 Price Is Even Conservative

Interestingly, X user @man_like_manley believes ChartNerd’s $13–$27 outlook is even conservative.

He suggested that the estimate probably overlooks the billions of dollars that could flow in from ETFs this year, as well as the XRP locked up in treasury funds and liquidity pools over the coming months.

ChartNerd maintained his outlook. He argued that massive inflows from ETFs and treasury buybacks would make the $27 price target far more realistic than the $500 fantasy Bitlord proposed.

Analyst Insists Cardano Setting Up for 10% to 100% Gains

Elendu Benedict
-
0
Analyst Insists Cardano Setting Up for 10% to 100% Gains

A recent analytical exposition has highlighted the possibility that Cardano could see an upsurge of 10% to 100% from its current price level.

Notably, a TradingView analysis of the ADA/USDT 3-day chart by Arman Shaban presented this possibility, asserting that Cardano will reverse the current bearish trend and enter a strong bullish move to higher levels.

Meanwhile, Cardano continues to consolidate, aligning with broader market trends. The crypto asset has hovered between $0.62 and $0.68 for nearly two weeks, quietly building momentum for its next move.

Cardano Holds Crucial Support

However, for Shaban, the next move for Cardano is upward. He shared this sentiment even as Cardano continues to hold a major demand zone despite lackluster price development.

He identified that Cardano’s structure remains intact as it consolidates above the support at $0.63-$0.60 and shows early signs of price accumulation. After a sharp fall to the local demand zone around $0.35 on October 10, ADA bounced nicely and has since held above $0.60, confirming the strength of the current support.

The analyst highlighted that as long as the $0.63-$0.60 support holds, the bullish bias remains intact. This trend places Cardano in a good place for its next price upsurge to the next major resistance level when momentum returns to the crypto market.

ADA Targets for Bullish Move

Meanwhile, the commentary mentioned price targets for Cardano when its next bullish phase resumes. It shows that a sustained breakout above $0.70 would pave the way for higher prices. Notably, Cardano trades at $0.64 at the time of writing, and a move to $0.70 would represent a 9.3% increase.

After $0.70, the market analyst predicted a 17% growth to $0.75, a 32.8% rise to $0.85, and a 56% upsurge to $1 as the following targets for ADA.

Notably, this builds on his earlier analysis, in which he noted that his expected return for the upcoming Cardano rally is a 10% short-term gain, a 40% increase in the midterm, and over 100% growth in the long term. 

At the current market price of $0.64, a 10% growth takes ADA to $0.705, while a 40% and 100% increase takes the token to $0.90 and $1.28, respectively. The 100% target aligns with the bearish order block (OB) marked in his accompanying chart.

Cardano Analysis | Arman Shaban
Cardano Analysis | Arman Shaban

Remarkably, this price level aligns closely with analyses from BullStar and CobraVanguard that target an ADA run to $1.30.

Here’s How High Cardano Must Rise to Overtake XRP

Lele Jima
-
0
Here’s How High Cardano Must Rise to Overtake XRP

Cardano would need to set a new all-time high (ATH) to have any chance of surpassing XRP again, just as it did in 2021.

Cardano (ADA), which ranked as the third-largest cryptocurrency by market cap in 2021, has now slipped to the 10th position. During its 2021 rally, Cardano’s price surged to $3.10, briefly surpassing other established assets like XRP.

However, ADA has since declined significantly, with XRP now the third-largest non-stablecoin cryptocurrency globally. Like most cryptocurrencies, ADA has faced an extended bearish trend in recent times.

ADA Faces Bearish Pressure

While ADA has experienced occasional price surges during favorable market periods, persistent macroeconomic challenges, particularly the ongoing U.S.-China trade tensions, have continued to exert downward pressure on its value.

Additionally, crypto whales have continuously sold the token. According to an X post from Ali Martinez yesterday, whales sold 100 million ADA this week.

At the current price of $0.6426, Cardano is down 23.7% year-to-date (YTD), 8.72% over the past six months, 13% in the past 3 months, and 18.9% over the past 30 days. It ranks as the 10th biggest cryptocurrency, with a market cap of $23.04 billion.

Cardano’s market cap is significantly lower than XRP’s, which has a valuation of over $100 billion. With a unit price of around $2.58, XRP is valued at $154.9 billion and ranks as the third-largest non-stablecoin asset. Unlike Cardano, XRP has spiked 24.1% year-to-date and 16.6% over the past six months.

Price Needed for Cardano to Overtake XRP

For Cardano to surpass XRP in the global crypto rankings, its price would need to rise substantially so that its market capitalization exceeds XRP’s $154.9 billion valuation.

Given Cardano’s circulating supply of roughly 35.86 billion ADA, it would require a market cap of at least $155 billion to overtake XRP. This translates to a target price of approximately $4.32 per ADA, representing a 572.26% increase from its current market value. It would also mark a new all-time high for Cardano, surpassing its 2021 record of $3.10.

While this estimate assumes a $4.32 price could help ADA overtake XRP, it is worth noting that any additional price surge from XRP would further widen the gap Cardano must close to surpass it. Moreover, back in July, XRP’s market capitalization reached a historic level above $210 billion.

Popular Calls for $4 ADA

Meanwhile, the $4 price target has surfaced repeatedly in various Cardano forecasts. In December 2024, prominent crypto analyst Ali Martinez highlighted the $4–$6 range as his target zone for taking profits on ADA.

Similarly, in July, analyst Crypto Smith identified a cup-and-handle pattern on Cardano’s chart, suggesting the token could be poised for a bullish breakout toward $4.

Moreover, Cardano community figure Mintern predicted that ADA could reach $4 this year, despite Changelly’s more conservative forecast, which projects the target will be reached by 2029.

Whales Bet Big on Bitcoin, Ethereum After Hawkish Fed Remarks

Zabi
-
0
Whales Bet Big on Bitcoin, Ethereum After Hawkish Fed Remarks

Whales are doubling down on Bitcoin and Ethereum, taking major long positions despite the Federal Reserve’s hawkish tone on interest rates.

Today, Bitcoin and Ethereum prices fell after the U.S. Federal Reserve signaled a cautious outlook on future rate cuts.

During his post-meeting press conference, Chair Jerome Powell said that a rate cut in December “is far from a foregone conclusion.”

Indeed, his statement surprised investors who had anticipated a 90% chance of a rate reduction at the Fed’s final policy meeting of the year.

Bitcoin and Ethereum Fall After Hawkish Fed Comments

Following Powell’s hawkish remarks, the global cryptocurrency market turned red almost immediately. Bitcoin (BTC) dipped under $108,000 before settling near $111,035 at press time. The drop wiped out much of the coin’s early-week gains.

At the same time, Ethereum (ETH) also weakened, trading around $3,945, a 2% decline over the same period.

Bitcoin and crypto market dip
Bitcoin and crypto market dip

Whales Double Down Despite the Pullback

Even as the broader market dipped, several large investors, or “whales”, continued to take aggressive long positions, reflecting confidence in a near-term recovery.

According to blockchain analytics firm Lookonchain, multiple high-value trades were executed on the Hyperliquid exchange.

For instance, one trader, operating under the wallet address 0x9553, opened a 40x long position on 179.59 BTC worth about $19.94 million. The position was initiated at an entry price of $110,590 per Bitcoin. Currently, it is showing a profit of $79,826, with a liquidation price of $106,070.

Moreover, another wallet, identified as 0x6988, allocated 1.95 million USDC to establish a 25x long position on 4,743 ETH, amounting to an estimated $18.71 million in value. Entry data shows a price of $3,928 per ETH, with a current gain of $76,670. The position would liquidate if ETH’s price dips $3,591.

Similarly, a third address, 0xd260, initiated a 40x long position on 62 BTC, totaling $6.88 million. The trader entered the position at $110,819 and is currently showing a profit of approximately $12,551. The liquidation price is $94,944.

Lookonchain added that this trader has completed 43 trades on Hyperliquid. Through these transactions, they achieved an 83.72% win rate and generated over $2.6 million in total profit.

From $100 to $100K Bitcoin, Cardano Founder Slams Peter Schiff: “He’s Been Wrong Every Step of the Way”

Elendu Benedict
-
0
From $100 to $100K Bitcoin, Cardano Founder Slams Peter Schiff: “He’s Been Wrong Every Step of the Way”

Long-standing Bitcoin antagonist Peter Schiff’s recent Bitcoin criticism has drawn a reaction from Cardano founder Charles Hoskinson.

Hoskinson was not having it again with Schiff, launching a counterattack on the gold bug. The crypto founder insisted that Schiff has always been in the wrong and “utterly irrelevant,” and this won’t change now. He further highlighted Schiff’s record of wrong Bitcoin predictions and how he would fail again.

Schiff Drops New Bitcoin Rant

For perspective, Schiff shared on X that the Nasdaq 100 index recently surged to a new all-time high. The stock, which tracks the top 100 non-financial stocks listed on Nasdaq, rallied to 26,182 for the first time in its history today, following positive quarterly earnings reports from giants like Apple, Google, and NVIDIA.

Meanwhile, Schiff pointed out that Bitcoin has consolidated and is more than 10% below its all-time high of $126,220, reached three weeks ago. He further highlighted that Bitcoin treasury firm Strategy is in a bear market, correcting over 48% from its November 2024 ATH.

He concluded that the sideways trend in Bitcoin, while gold and tech stocks pump, suggested it was a bubble about to pop. Schiff further raised doubts about Bitcoin getting to $1 million, insisting that if this were true, MSTR would be growing to reflect this momentum.

The gold advocate’s comments add to the countless instances in which he has found a way to attack Bitcoin and its price trajectory.

Hoskinson Fires Back

However, the vocal Cardano founder did not hold back in his response to Schiff’s rant. After branding him irrelevant, he recounted that Schiff was wrong when he predicted that Bitcoin would never reach $1,000, $10,000, and $100,000.

Hoskinson suggested that his losing streak will continue when Bitcoin reaches $1 million per coin, a price many industry leaders have speculated will occur soon.

Remarkably, Schiff also recently got a response from Binance’s CZ on a separate Bitcoin criticism. He claimed that Bitcoin would work as long as investors keep believing in the asset and that it would crash when that “supply of fools” runs out. 

In response, CZ stated that this is the same as gold and any form of money. He identifies that the precious metal’s price is not a function of its utility but a “pure belief system.”

Meanwhile, the broader cryptocurrency community also criticized Schiff’s comments. A standout comment claimed that comparing Bitcoin to gold and tech stocks is like judging a rocket by how fast a car moves.

Flare CEO Says Western Union Deal with Solana Holds No Bearing on XRP

Lele Jima
-
0
Flare CEO Says Western Union Deal with Solana Holds No Bearing on XRP

Flare CEO Hugo Philion emphasizes that the Western Union deal with Solana does not impact Ripple (XRP) or the XRP Ledger (XRPL) ecosystem in any strategic sense. 

Philion issued the statement in reaction to Western Union’s decision to launch its U.S. Dollar Payment Token (USDPT) stablecoin on Solana. The financial behemoth plans to launch USDPT on Solana in the first half of 2026.

Leading digital asset bank Anchorage Digital will handle the issuance of the dollar-pegged stablecoin. This move seeks to support Western Union’s 100 million-user network and enable faster, more cost-efficient global payments.

Western Union’s USDPT initiative aligns with the growing adoption of stablecoins among U.S.-based financial institutions, fueled by clearer regulation under the enacted GENIUS Act.

XRP Army Frustrated by Western Union’s Solana Choice

Notably, several XRP enthusiasts have expressed frustration with the development, particularly because Western Union had been experimenting with Ripple’s payment technology since 2015.

Back then, the company explored Ripple’s blockchain solution to enable faster, cheaper cross-border settlements. Despite running several pilots with XRP in 2018, the financial giant still chose Solana as the network for its upcoming stablecoin.

This led to frustration among the XRP Army, particularly as critics used it to mock XRP’s relevance in payments.

Flare CEO: Western Union-Solana Deal Has No Bearing on Ripple or XRPL

However, Flare CEO Philion stressed that Western Union’s choice of Solana for its stablecoin project does not pose a threat to Ripple or the broader XRPL ecosystem.

According to Philion, Ripple has set its sights on the highly lucrative sectors of trading and asset management, unlike Western Union, which entirely focuses on consumer payments.

This strategic focus is reflected in Ripple’s recent acquisitions of treasury management system provider GTreasury and prime broker Hidden Road (now Ripple Prime).

Flare Complements Ripple and XRPL Win

Furthermore, Philion noted that Flare complements the achievements of Ripple and XRPL by expanding XRP’s capabilities. Notably, Flare enhances XRP’s utility through DeFi integration and cross-chain interoperability, ultimately making XRP more versatile and programmable for future financial use cases.

The firm recently introduced FAssets, a system that allows XRP holders to access yield-generating opportunities on the Flare network. Since its launch in September, the initiative has gained significant traction. Users have bridged over 45.5 million XRP (worth approximately $117.72 million) to mint FXRP, the wrapped version of XRP.

Through these wrapped tokens, participants can engage in DeFi activities such as lending, staking, and liquidity provision across Flare-based platforms, including Kinetic, MoreMarkets, BlazeSwap, and SparkDEX.

Elon Musk’s SpaceX Shifts 281 Bitcoin to a New Wallet

Zabi
-
0
Elon Musk’s SpaceX Shifts 281 Bitcoin to a New Wallet

SpaceX, the space exploration firm led by Elon Musk, transferred another 281 Bitcoin, worth roughly $31.33 million, to a new wallet on Thursday.

Blockchain investigator Lookonchain reported that the funds went to a new address, different from SpaceX’s previous destinations.

Data from Arkham shows that 1,207 BTC were moved from a wallet associated with SpaceX. Out of this, 281 BTC went to the new address labeled “bc1qmg,” while $19.33 million worth of Bitcoin was sent to Coinbase Prime. The remaining 927 BTC returned to SpaceX’s original wallet.

Analysts suggest these movements are related to custody rather than to sales or disposals.

Three Major Transfers in Ten Days

This marks the third large-scale Bitcoin transaction by SpaceX within the past ten days. Earlier transfers included $133.7 million and $268 million in Bitcoin. In total, the company has now moved approximately $450 million worth of BTC this month.

Although SpaceX has not issued any official statement, the rapid sequence of transfers has fueled considerable market speculation.

Crypto Market Reacts to Transfers and Fed Remarks

The latest transfers occurred as the Bitcoin price fell below $110,000 following remarks by Jerome Powell on future U.S. interest rate cuts. Powell’s hawkish tone fueled caution in financial markets, which, combined with SpaceX’s Bitcoin activity, appeared to put additional pressure on prices.

Within an hour of the news, Bitcoin declined by more than 4%, hitting a low of $108,000 before recovering slightly. Despite the dip, trading volume remained largely unchanged, suggesting traders are adopting a wait-and-see approach amid uncertainty.

Musk’s Shift Toward a Pro-Bitcoin Stance

The transfers also drew attention because they followed Elon Musk’s recent comments about Bitcoin. On October 14, Musk praised Bitcoin’s “true energy basis,” marking his first positive remark about the cryptocurrency in several years. 

This change contrasts with Musk’s earlier criticism of Bitcoin’s energy consumption. His new tone has fueled speculation that SpaceX might be revisiting its Bitcoin strategy.

Historical Context: SpaceX’s BTC Holdings Adjustment

In 2022, SpaceX reportedly reduced its Bitcoin holdings by approximately 70% following the Terra-Luna crash and the subsequent FTX collapse, which shook global cryptocurrency markets.

However, the company’s latest transactions suggest a potential reevaluation of its Bitcoin strategy as prices fluctuate and Musk’s sentiment toward the cryptocurrency improves.

1...455456457...2,633Page 456 of 2,633