Home Blog Page 535

DTCC Lists Canary XRP ETF Ahead of SEC Greenlight: Is Approval Underway?

Abdulkarim Abdulwahab
-
0
DTCC Lists Canary XRP ETF Ahead of SEC Greenlight: Is Approval Underway?

The Depository Trust & Clearing Corporation (DTCC) has listed the Canary XRP ETF (XRPC) ahead of the SEC’s approval for the product. 

It was listed alongside Fidelity’s Solana ETF and Canary’s Hedera ETF. The listing is part of the standard pre-launch process for exchange-traded funds (ETFs). Specifically, it enables backend readiness in case of regulatory approval.

However, DTCC and industry experts have emphasized that this step does not indicate an imminent SEC approval, nor does it guarantee that the ETF will launch. The listing merely means the ETF is undergoing logistical setup to be eligible for processing through DTCC’s infrastructure.

Canary XRP ETF and Other XRP ETF Products on DTCC
Canary XRP ETF and Other XRP ETF Products on DTCC

Caution Against Overinterpretation

Responding to the news, Nate Geraci, President of The ETF Store, reiterated that the listing is procedural, not regulatory.

“DTCC ‘listing’ doesn’t mean anything from a regulatory standpoint. It’s all on the SEC,” Geraci posted.

He explained that adding ETFs to the eligibility file is standard ETF plumbing — part of what happens in preparation if the SEC gives a green light. Yet, it is not in itself a signal that approval is imminent.

Notably, beyond the Canary XRP ETF, several other XRP ETFs have also been listed on DTCC’s platform, including futures products from asset managers VOLATILITY and PROSHARES, which are already live.

Spot XRP ETF Decision Still Awaits SEC Ruling

While the DTCC listing generated buzz across the XRP community, the focus remains on the U.S. SEC, which must approve any spot XRP ETF before it can legally trade.

The SEC recently extended the review period for Franklin Templeton’s XRP ETF, with a final decision deadline of November 14, 2025. Other major proposals, including those from Grayscale, Bitwise, 21Shares, and CoinShares, face similar final deadlines in October.

Despite delays, market sentiment remains bullish. Prediction market Polymarket shows a 92% probability that spot XRP ETFs will secure approval this year.

Institutional Demand for XRP Accelerates

Meanwhile, even without spot ETF approval, XRP is already witnessing record institutional engagement. For instance, futures-based XRP ETFs have attracted over $800 million in assets.

CME Group recently reported that its XRP futures reached an all-time record of $1 billion in open interest within just three months.

Analysts believe a spot XRP ETF could amplify this momentum, bringing direct inflows into the asset and acting as a price catalyst. For example, Tokentus CEO Oliver Michel suggested that the introduction of spot ETFs could support further price increases in October.

XRP Price Outlook: Awaiting the Spark

At press time, XRP is trading around $3.05, up 2% over the past few days and 8.2% in the last week. The market awaits a major spark from ETF momentum news.

Meanwhile, analyst Dark Defender believes XRP has broken its initial weekly resistance and is now ready to challenge higher price levels at $4.40 and $5.85 in the near term.

Factoring in ETF momentum, some analysts such as Zach Recor and CryptoInsightUK see XRP making an attempt at the $10 price level and beyond later this year.

CleanCore Boosts Dogecoin Treasury Beyond 500M DOGE, Eyes 1B Target

Zabi
-
0
CleanCore Boosts Dogecoin Treasury Beyond 500M DOGE, Eyes 1B Target

U.S.-listed CleanCore Solutions (ZONE) has expanded its Dogecoin reserves, surpassing 500 million DOGE just days after entering the market.

The move signals a bold push to position the memecoin as a serious corporate reserve asset.

CleanCore announced its entry into Dogecoin earlier this week with an initial purchase of 285.42 million DOGE. Within three days, the company nearly doubled that figure, taking its total holdings past 500 million tokens.

The company has set an ambitious target to accumulate up to 1 billion DOGE within 30 days. This move would make CleanCore one of the largest corporate holders of Dogecoin.

Strategy and Vision

Marco Margiotta, the CIO of CleanCore and CEO of House of Doge, emphasized that the rapid accumulation reflects both speed and conviction. He noted that the company’s broader vision is to cement Dogecoin’s role as a reserve asset while enabling its utility across payments, tokenization projects, staking-like products, and global money transfers.

The Dogecoin treasury is not being built in isolation. It has been established in partnership with the House of Doge, a new corporate arm of the Dogecoin Foundation.

According to the press release, CleanCore ultimately intends to secure about 5% of the total circulating supply of Dogecoin. To ensure security and compliance, Bitstamp manages custody of the tokens on behalf of Robinhood.

Market Reaction and Stock Performance

The growing Dogecoin treasury has also made an immediate impression on equity markets. Investors responded favorably to CleanCore’s bold strategy, viewing it as a sign of confidence in the digital asset.

ZONE shares closed at $3.98 on Thursday, then surged 12.31% in after-hours trading. With its market capitalization rising to $63.6 million, CleanCore has become a focal point for traders watching the intersection of corporate finance and cryptocurrency.

Dogecoin ETF on the Horizon

This rising investor interest aligns with broader market developments. The first spot Dogecoin exchange-traded fund is set to debut on Wall Street, adding institutional legitimacy to the asset.

The REX-Osprey DOGE ETF (ticker: DOJE) was originally expected to launch this week but is now projected to begin trading next week, according to Bloomberg analyst James Seyffart.

In a social media post, James Seyffart stated that, unlike futures-based funds, the ETF will primarily hold spot Dogecoin, offering investors direct exposure to the cryptocurrency. However, he noted that the fund also has flexibility built into its documents, allowing a mix of other spot ETFs or derivatives if required.

Dogecoin Price Momentum

Alongside these corporate and institutional moves, Dogecoin itself is experiencing renewed market momentum. Data from CoinGecko shows that the token has gained 5.5% over the past 24 hours, reaching a price of $0.2634.

The combination of CleanCore’s large-scale purchases and the imminent ETF launch has added fuel to market optimism. For Dogecoin supporters, these developments are seen as milestones in the coin’s journey from internet meme to a recognized digital asset with expanding real-world utility.

XRP Rich List Update Reveals Requirement for Top 10% Has Again Dropped

Sam Wisdom Raphael
-
0
XRP Rich List Update Reveals Requirement for Top 10% Has Again Dropped

Data from the XRP rich list reveals that the amount an investor needs to enter the top 10% has again dropped despite XRP price stagnation.

For context, XRP embarked on an impressive recovery campaign after the massive collapse it recorded earlier this month, which pushed it to a low of $2.7. However, amid this recovery effort, XRP’s price only rebounded to the position it was in late August during the previous rich list update.

Specifically, at the time, XRP traded for $3, and today, it still trades around that price mark. Nonetheless, despite this stagnant price action, the requirement to enter the XRP rich list has dropped considerably. 

XRP Rich List Data Shows Declining Capital Requirements

At press time, data from the community-driven XRP rich list platform shows that an investor looking to enter the top 10% would need to hold 2,377 XRP tokens. Interestingly, this is a drop from the 2,396 XRP requirement highlighted two weeks ago during the previous XRP rich list report by The Crypto Basic.

XRP Rich List
XRP Rich List

With XRP trading at roughly the same price as the previous report, the worth of the tokens required to enter the top 10% has dropped from $7,188 to $7,131. While the $57 difference might not seem significant enough to most, the gradual decline is an interesting trend worth watching. For context, this requirement was 2,433 XRP ($7,299) earlier in August.

In addition to the drop in entry requirements, the number of addresses in the top 10% of the XRP rich list has increased, showing a contrasting trend. Specifically, at the time of the previous report, there were 690,984 addresses in the top 10%. This figure has increased by nearly 6,000 to 696,777 at press time.

Other Tiers of Addresses See Similar Trend

Moreover, the requirement to enter the top 5% has also dropped slightly to 8,301 XRP worth $24,903, lower than the previous figure of 8,370 tokens valued at $25,110. However, the number of addresses in this tier has increased to 348,388, an addition of 2,896 wallets over the past two weeks.

Meanwhile, the top 1% entry requirement saw a more modest drop of 14 XRP tokens, decreasing from 50,025 XRP worth $150,075 on Aug. 27 to the current figure of 50,011 tokens ($150,033). Further, there are now 69,678 addresses in the top 1%, a slight increase from the 69,098 on Aug. 27.

For context, this contrasting trend of decreasing capital requirements alongside a rising number of addresses in each tier is due to the entrance of new investors, who have accumulated more XRP tokens at lower price levels. Today, total XRP wallets have increased to 6.967 million, eyeing the 7 million mark.

Bitcoin Going to $200,000 is Obvious: Top Pundit

Elendu Benedict
-
0
Bitcoin Going to $200,000 is Obvious: Top Pundit

The pundit behind the Altcoin Daily show has insisted that Bitcoin would reach $200,000 per coin, suggesting that this bullish target is “obvious.”

Bitcoin has returned above $115,000, and sentiment is gradually shifting back to a positive outlook. The leading cryptocurrency struggled after its new all-time high of $124,457 around mid-August, with the consolidation spilling into early September.

However, with macroeconomic headwinds finally receding and whales now accumulating as opposed to their earlier distribution stance, momentum is beginning to build for Bitcoin again. Analysts are now betting on significantly higher prices, suggesting that Bitcoin is ready to launch to new heights.

Pundit Says Bitcoin Obviously Going to $200,000 

One such bullish projection came from the crypto pundit behind the well-known account Altcoin Daily. The account predicted in a Thursday tweet that Bitcoin will reach $200,000, insisting that it is glaring that the pioneering cryptocurrency would attain the price mark.

Altcoin Daily on X
Altcoin Daily on X

Bitcoin currently trades at $115,567, with a market cap of $2.3 trillion. A rally to the new high of $200,000 represents a 73% increase from here, taking its valuation to $3.98 trillion. Interestingly, this would make Bitcoin the third-largest asset globally by market capitalization, surpassing Microsoft and Apple at their current standing.

Meanwhile, Altcoin Daily did not provide further context as to why the asset would reach $200,000, nor when it would do so. Nonetheless, the target is commonplace among industry leaders and prominent market analysts.

Bitcoin to $200,000 Predictions

As mentioned earlier, several other predictions all point to Bitcoin reaching the price target by the end of this year. For perspective, Bitwise CIO Matt Hougan predicted that Bitcoin would get $200,000 in 2025.

Banking giant Standard Chartered and brokerage firm Bernstein are among the major institutions that also predict that Bitcoin will hit $200,000 this year. Further, Tom Lee projected that the timeline for Bitcoin to reach $200,000 is Christmas Day 2025, aligning with an outlook from market commentator Ash Crypto.

Major Catalysts for Bitcoin to $200,000

Meanwhile, these projections share a few catalysts in common, one of which is the expected quantitative easing in the United States. The pressure is mounting on the Federal Reserve to cut interest rates, and market analysts expect this to happen in next week’s FOMC meeting.

This event has historically coincided with a Bitcoin rally, as evidenced by the previous rate cut in September 2024. Lower rates encourage investors to borrow money, unlocking new liquidity for the global market, including the crypto sector.

Moreover, the fourth quarter of the year has historically been a period of bullishness for Bitcoin. Some analysts suggest this would be better, particularly as institutional interest is now in the mix. As a result, many predict that Bitcoin will deliver its Q4 bullish returns, with ETFs and treasury firms further fueling the rally.

Shiba Inu Team Explains How BONE and Shibarium Could Benefit From a SHIB ETF

Lele Jima
-
0
Shiba Inu Team Explains How BONE and Shibarium Could Benefit From a SHIB ETF

The Shiba Inu ecosystem team outlines how a potential SHIB ETF could extend its impact beyond the token itself to boost Shibarium and its gas token, BONE. 

This outline came via the official X handle of its Layer 2 blockchain, Shibarium. Notably, the team pointed out that the race for spot crypto ETFs is heating up. With Bitcoin and Ethereum ETFs already live, speculation is turning to which crypto asset will be next in line. 

Interestingly, the ecosystem team framed Shiba Inu as a major contender for a spot ETF, citing its popularity and its transition from a meme coin to a utility token. 

In addition, the post emphasized that Shiba Inu boasts a multi-billion-dollar market cap, listings on major global exchanges, and a strong retail community. It claims that these features mirror some of the conditions that propelled the launch of Bitcoin and Ethereum ETFs. 

How SHIB ETF Will Benefit Shibarium and BONE 

The team acknowledged that no asset manager or regulator has indicated plans for a Shiba Inu ETF, but speculation around the idea is growing. The prospect has sparked debate on how such a move could benefit SHIB and also its broader ecosystem, particularly Shibarium and BONE.

First, the post emphasized that a potential Shiba Inu ETF will focus solely on SHIB, lowering the barrier for traditional investors who prefer regulated products to gain exposure to the token. The team expects this to give SHIB greater visibility and legitimacy in mainstream finance. 

Although a potential SHIB ETF would focus on the token, the team speculates that the product would still draw institutional attention to the broader ecosystem, particularly Shibarium. 

Launched in August 2023, Shibarium serves as Shiba Inu’s native Layer 2 blockchain, designed for fast and low-cost transactions. Users get to pay every Shibarium transaction fee in BONE, the network’s official gas fee token. 

As SHIB gains legitimacy and widespread demand through a potential ETF, the team suggests that this adoption could spill into Shibarium and BONE. Interestingly, some community members frame BONE as the silent winner of the ripple effects that a SHIB ETF would bring. 

Shiba Inu to Emerge as First ETF L2? 

Meanwhile, while several asset managers have filed to launch a Dogecoin ETF in the U.S., none have indicated interest in SHIB. Despite this, the team believes Shiba Inu could still become “the first ETF L2.”

It argued that Shiba Inu has a solid infrastructure that rivals like Dogecoin lack. According to the team, while Shiba Inu has a functioning scaling layer solution through Shibarium, Dogecoin runs on a fragmented network. 

Analyst Predicts Shiba Inu Surge to $0.000081 as Google Trends Signals Renewed Interest in SHIB

Lele Jima
-
0
Analyst Predicts Shiba Inu Surge to $0.000081 as Google Trends Signals Renewed Interest in SHIB

Shiba Inu may be on the verge of a major rally as both technical analysis and market sentiment indicators converge to suggest upside potential. 

Recent analysis from market watcher Javon Marks suggests that Shiba Inu has confirmed a regular bullish divergence on the MACD histogram. This setup typically signals a strong reversal to the bullish territory.

Shiba Inu Eyes Surge to $0.00003 – $0.000081

According to the chart, Shiba Inu has broken out of a previous bearish structure while simultaneously forming a bullish divergence on the MACD. This suggests that momentum may be shifting back in favor of the bulls.

Marks noted that the divergence signals a major bullish reversal, with the potential to propel SHIB by 163% toward the $0.00003 level.

In a follow-up post, he reiterated the outlook, saying SHIB could rally to a short-term target of $0.000032. For context, Shiba Inu previously traded around the $0.00003 level in December, exactly nine months ago.

Interestingly, he also hinted that Shiba Inu’s rally might not stop at the $0.00003 level. Instead, he forecasted that the token could extend its breakout to as high as $0.000081. This represents a potential 570% surge from SHIB’s price at the time of analysis.

Shiba Inu has not seen the $0.000081 level since the 2021 bull cycle, when it recorded an all-time high of $0.00008845. Since then, it has struggled to revisit the $0.00008 mark and has largely traded within the $0.00001 and $0.00003 price range.

Nonetheless, Marks has consistently predicted Shiba Inu’s climb to $0.000081. However, he did not specify a timeline indicating when the prediction would materialize.

Google Trends Confirms Renewed Retail Interest in SHIB

Beyond the charts, Google Trends data shows Shiba Inu search interest has jumped to the perfect 100 score over the past week, signaling renewed retail momentum. It is worth noting that this positive momentum often precedes major rallies.

Shiba Inu Google Trends
Shiba Inu Google Trends

The development coincides with growing expectations of a bull run for altcoins. Data from CoinMarketCap indicates that the highly anticipated altcoin season is approaching. The CMC Altcoin Season Index, which was around 29% last month, had spiked to 68% in the hours leading up to press time.

This indicates that 68% of the top 100 non-stablecoin altcoins, including SHIB, have outperformed Bitcoin over the past three months. A reading of 75% or higher officially marks the start of altcoin season.

For context, Shiba Inu has recorded a modest 12.16% gain in the past 90 days. Currently, it is trading at $0.00001313, representing a 7.65% increase over the past week.

Market Veteran Targets XRP Rally to $4.50, Says XRP Consolidation Period Is Over

Elendu Benedict
-
0
Market Veteran Targets XRP Rally to $4.50, Says XRP Consolidation Period Is Over

Experienced market analyst CasiTrades says XRP is heating up after a bullish breakout, with the new target a rally to an all-time high of $4.50.

Notably, she shared in a Wednesday analysis that the XRP consolidation has ended, and momentum is now building up for its next leg up. The analysis comes as XRP reclaims the $3 support after several failed attempts since the start of September.

Bullish Momentum Building for XRP

Notably, CasiTrades shared several indicators that XRP could make a decisive move in the coming days. She identified returning bullish momentum in the crypto market, which prospects of a quantitative easing in the US economy could be spurring.

The relative strength index (RSI) is also building a steady bullish slope, with the indicator currently standing at 54.27. Furthermore, moving averages serve as support, ensuring that prices do not follow below key levels.

Moreover, XRP has held its breakout from a multi-month consolidation within a symmetrical triangle in the daily timeframe. XRP entered the structure after hitting $3.66 in July and made lower highs and lower lows within the tightening pattern.

XRP Price Analysis/CasiTrades

Following its breakout on September 8, XRP recently reclaimed the $3 mark, setting the stage for higher prices. Failure to do so takes XRP to lower Fibonacci supports at $2.78 and $2.58. Nonetheless, CasiTrades noted that there are clear signs indicating that XRP is quietly building strength.

XRP Breakout Targets and Crucial Levels to Watch

With the breakout, the experienced trader emphasized that once XRP claims $3, the following areas to watch are the 1.618 and 2.618 Fibonacci extensions at $3.08 and $3.27, respectively. Notably, XRP has reclaimed the $3 support at the time of writing, paving the way for the retest of these key levels.

Remarkably, both the $3.08 and $3.27 levels exerted substantial downward pressure on XRP in early and late August, and XRP must trade above these levels to confirm bullish momentum.

Meanwhile, the analyst highlighted that the Fibonacci targets from the larger consolidation remain unchanged. Her accompanying chart indicates that XRP is in the third wave of a five-wave pattern, with the target being a rally to $4.50. Remarkably, the 50% rally from its current price of $3 would mark a new all-time high for XRP.

Interestingly, analyst Dr. Cat shares a similar price target for XRP but insists that the price mark is the worst-case scenario for the token this cycle. Moreover, other projections share a significantly higher price target for XRP, with Armando Pantoja claiming that XRP at $1,000 is inevitable.

Two Possible Paths XRP Could Take to New ATH

Sam Wisdom Raphael
-
0
Two Possible Paths XRP Could Take to New ATH

A skilled financial expert has shared two possible immediate paths XRP could take toward reaching a new all-time high.

Notably, XRP has bounced back after the drop to $2.70 on Sept. 1. It now trades at $3.03, about 12% higher than its early-month low amid a broader market rebound and improving macroeconomic conditions. Still, its hold above $3 looks fragile, with the next direction uncertain.

XRP Price Action Within Triangle Formation

In this position, veteran trader Matthew Dixon has presented a chart that shows two possible short-term paths that could drive XRP to new all-time highs. His analysis focuses on a contracting Elliott Wave triangle that has been unfolding since July, with price action now testing the triangle’s upper resistance.

The pattern began in mid-July when XRP reached the $3.66 peak before dropping to wave (A) at $2.72 in early August. It then rallied into mid-August to form wave (B) at $3.38 but stalled against the descending upper trendline. 

XRP 1h Chart Matthew Dixon
XRP 1h Chart | Matthew Dixon

From here, a decline followed in late August, marking wave (C) at the recent low of $2.7 earlier this month. XRP has since climbed again from this low, touching the trendline once more at wave (D). It now trades close to that resistance near $3.05, putting it at a decision point.

Two Possible Paths for XRP to New ATH

Notably, Dixon highlights two scenarios. In the first, XRP could break above the upper trendline immediately, skipping the need for a drop to wave (E) and surging straight toward his chart target of about $3.90. From the current price, that move would represent almost 30% upside. 

Meanwhile, in the second scenario, XRP may reject the trendline and drop to complete wave (E) around the critical support level of $2.655. This pullback would set up a much larger breakout, with a potential 47% rally from the $2.65 area to the $3.90 target. 

According to data from the chart, the possibility of either direction playing out is equally high. However, whichever one materializes, Dixon expects XRP to eventually break out of the triangle to a new all-time high of $3.90.

Importantly, XRP’s relative strength index sits at 57, a neutral zone that gives XRP room to either dip or run higher. The $3.05 to $3.15 now serves as the immediate resistance to clear, while $2.655 acts as the must-hold support. 

Supporting Views

Interestingly, other analysts also hold this view. For instance, market watcher EGRAG Crypto recently described the current XRP structure as a symmetrical triangle with an equal chance of breaking in either direction. 

He believes a close above the $3.077 to $3.13 range on the three-day chart, along with reclaiming the 21-period simple moving average, would lock in the bullish case. He also pointed to $3.30 as the level that would open the door to new all-time highs. 

XRP 3D Chart EGRAG Crypto
XRP 3D Chart | EGRAG Crypto

However, on the downside, he warned that a close below $2.77 would tilt control toward the bears, and a breakdown under $2.55 would mark a serious technical failure.

In a separate analysis, EGRAG also narrowed in on the four-hour chart, where he sees an ascending triangle holding as long as XRP stays above $2.973. His measured target for that formation is $3.12, with backup support at $2.957, $2.912, and a critical floor at $2.85.

Meanwhile, analyst Casi Trades confirmed that XRP had broken out of its consolidation. She sees $3.00 as a pivot level that now acts as support, with near-term resistance at $3.08 and $3.27. According to her, a move above $3.25 could lead to a rally toward $4.50, with $3.66 serving as a likely retest point along the way.

XRP 1D Chart Casi Trades
XRP 1D Chart | Casi Trades

Top Analyst Shares Realistic XRP Targets for the Next Major Leg

Elendu Benedict
-
0
Top Analyst Shares Realistic XRP Targets for the Next Major Leg

CryptoInsightUK, a well-followed analyst and XRP bull, recently shared his short- to mid-term outlook for XRP, including price targets he describes as realistic.

This came during a recent podcast appearance, where he outlined both technical and fundamental factors driving his optimistic targets.

XRP Set to Lead the Market Again

According to CryptoInsightUK, XRP may once again be leading the charge in the market. The analyst noted that XRP has already demonstrated strength in this cycle. It rallied from around $0.50 to $3.40 earlier this year before entering a prolonged consolidation period lasting over 270 days.

Following a recent surge to $3.60 and a retracement to $2.70, he believes XRP is gearing up for its “next leg up.”

“The market generally looks ready,” he said, referencing the bullish momentum in Ethereum, Bitcoin, and traditional equities. “If XRP has led so far, it will hopefully continue to lead,” he said.

For context, despite the broader bearish market, XRP’s yearly performance shows gains of 464%, compared to Bitcoin’s 101% and Ethereum’s 91%. In other words, XRP has shown more than four times better performance.

Fundamentals Strengthening XRP’s Bullish Case

Beyond price charts, CryptoInsightUK highlighted several key catalysts that could fuel XRP’s next breakout:

  1. XRP DeFi Launch
    He pointed to the potential introduction of XRP DeFi solutions, possibly launching as soon as mid-month through platforms like Flare Networks.
  2. ETF Speculation
    The market is closely watching for an XRP ETF decision in October. According to the analyst, increasing amendments to S-1 filings, similar to those that preceded ETH and BTC ETFs, signal growing institutional readiness.
  3. CME Futures Activity
    XRP has seen significant volume in CME futures, exceeding $1 billion. This suggests strong underlying demand from institutional and enterprise-level participants.

Realistic Price Targets

CryptoInsightUK believes the next breakout could take XRP above $4.20, with a realistic mid-term target between $8 and $11. For context, XRP price must expand by 266% from the current level to reach $11.

“People think that sounds ridiculous,” he acknowledged, “but I think the whole crypto space is going to move significantly.”

He emphasized that these projections are based not only on XRP’s past performance but also on broader macro trends, such as a potential influx of trillions in stablecoins, pro-growth political narratives in the U.S., and a widespread breakout in equities and commodities.

Market Structure Still Bullish

Addressing fears of a market top, CryptoInsightUK noted none of the 100 bull market top indicators had been triggered at the time of his analysis.

Essentially, on-chain risk metrics remain low, suggesting the crypto market, including XRP, could be preparing for a renewed bullish phase.

Meanwhile, XRP continues to face skepticism in some corners of the crypto community. Still, CryptoInsightUK sees institutional interest, DeFi developments, and a risk-on environment as supporting factors for confidence in XRP and its price outlook.

BNB Targets $1,000 Next, Spurred by Negative Correlation with Bitcoin and Sidelined Liquidity

Elendu Benedict
-
0
BNB Targets $1,000 Next, Spurred by Negative Correlation with Bitcoin and Sidelined Liquidity

Analysis suggests that the Binance-affiliated token BNB now targets new all-time highs facilitated by sidelined liquidity and negative correlation with Bitcoin.

Despite a broader market uncertainty, BNB has continued to thrive. The fifth-largest cryptocurrency by market cap surged to a new all-time high of $906 on Wednesday, as the buzz around its ecosystem persists.

While it has receded slightly to trade at $899 at the time of writing, an analysis suggests the bullish trend could continue. Specifically, CryptoQuant verified commentator Timo Oinonen has predicted that new all-time highs are in order for BNB, highlighting potential catalysts.

BNB Decouples from Bitcoin

Bitcoin reclaimed $114,000 on Wednesday for the first time in September, as major inflation data came in cooler than expected. Before that, it had been gloomy for the pioneering cryptocurrency, which fell from its all-time high of $124,457 in August to $107,000 earlier this month.

However, BNB has performed better. Over the past 30 days, the altcoin has increased by 10.7%, compared to Bitcoin’s 4.24% decline. The divergence indicates that BNB is now negatively correlated with Bitcoin, with the disparity coefficient reaching -0.27 at the time of Oinonen’s analysis.

Meanwhile, the analysis suggests that this would be for the greater good of BNB, especially as we approach the historically bullish period of the crypto market. The fourth quarter of the year has historically seen Bitcoin hit new highs, and Oinonen projects that BNB will follow its trajectory but with amplified gains.

As a result, he predicts that BNB would reach $1,000 in the short term and potentially rally to $1,500 by the end of Q4 2025. This outlook aligns with a recent price prediction from Ash Crypto, who said BNB could hit between $1,500 and $2,000 by the end of the year.

Growing Stablecoin Reserve to Provide Liquidity for BNB Rally

Moreover, Binance’s Ethereum-based stablecoin reserves have grown with the price of BNB, providing sidelined liquidity. It appreciated from a low of $32 billion in August to $38 billion, representing a 19% uptick in the past few weeks.

Binance Stablecoin Reserve Growth/CryptoQuant

The CryptoQuant analyst noted that the unused capital would act as an enabler for further rallies in the final quarter of 2025, which will extend to the first quarter of 2026.

Additionally, he also tapped the auto-burn mechanism on the BNB Chain to help reduce the total supply of the token, creating scarcity. Notably, Binance introduced the mechanism in December 2021 to keep BNB deflationary, automatically incinerating a portion of its supply based on price and the number of blocks produced on the BNB chain each quarter.

1...534535536...2,634Page 535 of 2,634