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Market Veteran Peter Brandt Says XRP Is Ready to Blast Off

Sam Wisdom Raphael
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Market Veteran Peter Brandt Says XRP Is Ready to Blast Off

XRP is back in the spotlight as veteran trader Peter Brandt suggests the altcoin could be warming up for a major breakout. 

In his latest analysis, Brandt pointed out that XRP has been moving sideways on both the monthly chart. Notably, this is a sign that often comes before a strong move in either direction. He believes this period of price consolidation could soon give way to a sharp push higher, especially as the market trends upward.

XRP Monthly Chart Confirms Brandt’s View 

Interestingly, the monthly chart confirms Brandt’s view. For years, XRP traded within a large symmetrical triangle, where each rally made lower highs and each dip formed higher lows. 

This pattern, which stretched from early 2018 until late 2024, kept the price tightly squeezed until XRP finally broke above the upper boundary of the triangle in November 2024. The breakout came with a surge in buying volume, which added strength and credibility to the move.

Since then, XRP has been trading in a narrow range between roughly $2 and $3. This sideways movement, which analysts call a high base, tends to appear after a big breakout and shows that buyers are still in control. 

XRP 1M Chart Peter Brandt
XRP 1M Chart | Peter Brandt

Importantly, it indicates that the market is catching its breath before the next leg up. Right now, XRP holds steady above its 8-month simple moving average, which continues to slope upwards and helps confirm the uptrend.

Meanwhile, the technical indicators also paint a strong bullish picture. For one, the Average Directional Index (ADX) currently sits above 51, showing that XRP’s trend remains powerful. Meanwhile, the Average True Range (ATR), which measures volatility, has dropped slightly. This is a typical behavior when markets pause before a bigger move.

Analysts Expecting Massive XRP Upsurge

Other crypto analysts share a similar outlook. For instance, well-known XRP chartist Dark Defender pushed back against the idea that XRP had formed a bearish head-and-shoulders pattern. 

XRP 1W Chart Dark Defender
XRP 1W Chart | Dark Defender

He pointed out that XRP already reached the key Fibonacci extension level of $2.77 and believes the asset has entered a clear fifth wave breakout, based on Elliott Wave Theory. 

Another market watcher, CryptoInsightsUK, highlighted that XRP recently broke out of a price range between $2.00 and $2.30. He explained that XRP now faces a key test near $2.60. 

A clean break above this level, in his view, could clear the way for a move toward $3.00 and possibly new all-time highs. Interestingly, XRP has already pushed past this resistance zone, showing that buyers remain firmly in control.

Currently, XRP has climbed 24% in the past week and stands 26% higher so far in July, currently trading for $2.8 as it eyes the $3 mark. These gains come as the broader crypto market shows massive strength across, which adds fuel to XRP’s recent rally. Recently, an analyst suggested that nothing exciting is happening until XRP breaches $3.84.

SharpLink Gaming Acquires 10,000 ETH from Ethereum Foundation, Grows Its Holding to 215,634 ETH

Lele Jima
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0
SharpLink Gaming Acquires 10,000 ETH from Ethereum Foundation, Grows Its Holding to 215,634 ETH

Nasdaq-listed company SharpLink Gaming (SBET) announces the purchase of 10,000 ETH from the Ethereum Foundation. 

According to a press release, the 10,000 ETH cost roughly $25.72 million, equivalent to $2,572.37 per coin. SharpLink revealed that it finalized the acquisition on July 10, 2025. Notably, the purchase aligns with SharpLink’s commitment to adopt Ethereum as a primary treasury reserve asset.

Ethereum Foundation Confirmed Purchase

The Ethereum Foundation also published an X thread, confirming that it sold 10,000 ETH to SharpLink via an over-the-counter (OTC) transaction earlier this week. Per the announcement, the foundation transferred the funds directly from one of its multisig wallets, 0xc06…10B6d.

Although SharpLink stated that the transaction closed yesterday, on-chain data shows that the foundation transferred the 10,000 ETH tokens to SharpLink’s blockchain wallet today at 12:31 p.m. (UTC).

Ethereum Foundation sells 10K ETH to SharpLink Gaming
Ethereum Foundation sells 10K ETH to SharpLink Gaming

Ethereum Founder Reacts

Meanwhile, the Ethereum Foundation disclosed that it will use the funds raised from the transaction to finance its core operations and activities. In particular, the funds will be allocated to the foundation’s ongoing work, including ecosystem growth, protocol research and development, as well as community grants.

Joseph Lubin, co-founder of the Ethereum Foundation and Chairman of SharpLink, disclosed that the 10,000 ETH acquisition goes beyond a short-term trade. It is a commitment to the organization’s long-term vision.

Moreover, he indicated that SharpLink will stake and re-stake the 10,000 ETH, locking up the tokens and reducing the circulating supply. In his view, this move could set a precedent for how mission-driven organizations can support Ethereum’s shared goals of economic empowerment and decentralization.

SharpLink Ethereum Holdings Soars to 215,634

Meanwhile, the latest acquisition further increases SharpLink’s holdings of the second-largest cryptocurrency by market cap. According to the firm, it is currently the largest publicly-traded company to adopt ETH as a primary reserve asset.

Earlier this week, SharpLink announced that it purchased 7,689 ETH between June 28 and July 4 for $19.2 million. As of July 8, the company claimed it held around 205,634 ETH. Following its latest acquisition, it has increased its holdings to 215,634 ETH tokens.

It is worth mentioning that SharpLink has been staking and re-staking the ETH it holds. Earlier this week, the company reported earning over 320 ETH in staking rewards, which were subsequently re-staked.

The latest announcement comes just hours after Ethereum crossed the $3,000 threshold. At the time of publication, Ethereum was trading at $3,005, up 7.85% in the past day and 18.54% over the past week.

Bank of America Research Shows Bitcoin Is Now the Best-Performing Currency This Year

Elendu Benedict
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Bank of America Research Shows Bitcoin Is Now the Best-Performing Currency This Year

Recent research from the Bank of America shows that Bitcoin is now the best-performing currency this year, marking a new classification milestone.

The Bank of America (BofA) published the latest “Cross-Asset Winners & Losers” standings today, reflecting the current standings of major assets and their returns in US dollar terms. The research highlighted two interesting details, both of which are notable feats for Bitcoin, the largest cryptocurrency by market cap.

Bitcoin Outperforms Major Traditional Assets

Bitcoin surged to a new all-time high today, following in the lead of the S&P 500 and the global M2 money supply. Specifically, it surged to a peak of $118,839, marking the third consecutive day that BTC has reached unprecedented prices.

Meanwhile, the bullish momentum extends its year-to-date price performance, currently standing at 26.08%. The Bank of America took figures for its research as of July 9, when BTC was up 18.2% YTD. Yet, the cryptocurrency still outranks other currencies.

It bests the Swedish Krona, which was up 16.4% at the time of the report, and the Swiss Franc’s 14.2% YTD performance. Notably, BTC, the krona, and the franc make up the top three best-performing currencies since the start of the year.

YTD Cross-Asset Rankings | Bank of America

Interestingly, this start suggests that the US dollar has depreciated more against Bitcoin than against any other currency globally, making it a better hedge against inflation and devaluation. Rich Dad Poor Dad author Robert Kiyosaki echoes this belief, reiterating on several occasions that it is better to save in Bitcoin than in “fake fiat.”

BofA Classifies Bitcoin as a Currency

As established earlier, BofA classified Bitcoin under the currency section rather than as an asset. Head of research at VanEck, Matthew Sigel, further highlighted this classification in a tweet today.

Notably, this is a step in the right direction for Bitcoin, as many, including BofA, saw it as a bubble. Investment firm Tephra Digital noted that BTC only appeared in the asset bubble charts of BofA’s chief investment strategist, Michael Hartnett.

However, Hartnett classified Bitcoin among the most essential technological disruptions in the last 1,000 years in June. Now, BofA has added Bitcoin to the currency section in its cross-asset report.

Meanwhile, if Bitcoin is placed in the asset section, it would rank as the fourth-best. Gold leads the category with 25.7%, while the Europe Equities and UK Equities stand next with 25.4% and 19.8%, respectively.

Notably, the evolving view of Bitcoin among major financial players highlights its emerging institutional use case. The pioneering cryptocurrency has transcended its nascent reputation of “scams” and “bubbles” to become a mainstream asset.

Currently, Bitcoin ranks among the top six assets globally. Furthermore, many countries and corporate firms now see Bitcoin as a worthy reserve asset. Aside from the United States, Pakistan and Kazakhstan are considering a Bitcoin reserve creation, while firms like Strategy, GameStop, and Metaplanet have adopted BTC as their primary corporate treasury assets.

Nasdaq-Listed K33 Buys 50 More Bitcoin, Aiming for 1,000 BTC Treasury

Zabi
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0
Nasdaq-Listed K33 Buys 50 More Bitcoin, Aiming for 1,000 BTC Treasury

Digital asset firm K33 has added 50 Bitcoin tokens worth approximately $6 million to its balance sheet, accelerating its Bitcoin Treasury strategy.

K33, a prominent brokerage and research company in the digital asset sector, has acquired an additional 50 BTC. The investment amounts to approximately SEK 57.1 million (USD 5.98 million) as the company advances its Bitcoin Treasury initiative. The company confirmed the news in a recent tweet.

Staying True to a Bitcoin Strategy

With this purchase, K33 now holds 85 BTC, acquired at an average cost of around SEK 1,089,220 (USD 114,189.14) per coin. The acquisition follows two successful funding rounds that collectively raised SEK 185 million (USD 19.39 million), earmarked for building a Bitcoin reserve.

This strategic move aligns with the company’s broader goal of accumulating up to 1,000 BTC in the near term. The firm plans to continue acquiring Bitcoin, with further purchases expected next week using proceeds from recent capital raises.

BTC Price Action

The announcement comes at a time when Bitcoin has crossed the $118,000 threshold for the first time. Bitcoin achieved this historic price milestone after several attempts to break through the $111,000 mark, which ultimately succeeded on Thursday evening.

Earlier today, Bitcoin reached a high of $118,755. In parallel, the asset has gained more than 25% year-to-date (YTD), outpacing both the S&P 500 and tech leader Nvidia.

K33’s Bitcoin strategy highlights its firm belief in the asset’s long-term prospects. It also reflects the company’s aim to leverage digital asset reserves for operational advantages in its brokerage business.

K33 is listed on the Nasdaq First North Growth Market and provides execution services, research insights, and advisory support to institutional and private investors throughout the EMEA region. Mangold Fondkommission serves as its Certified Adviser.

Shiba Inu Large Holders Accumulate 1,180,000,000,000 SHIB in One Day as Price Reclaims $0.000013

Lele Jima
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0
Shiba Inu Large Holders Accumulate 1,180,000,000,000 SHIB in One Day as Price Reclaims $0.000013

Shiba Inu experienced a massive surge in the inflow of large holders, a move that coincided with its price spike above $0.000013. 

Fresh data from IntoTheBlock confirmed that blockchain addresses holding at least 0.1% of Shiba Inu’s supply collectively gulped 1.81 trillion SHIB tokens from the market yesterday, July 10.  

This represents a 422% increase compared to the 346 billion SHIB tokens acquired by large holders the previous day. It also marks a rise of 1,247% from the 134.37 billion SHIB inflow recorded a month ago. 

Meanwhile, it remains unclear whether the latest 1.81 trillion SHIB inflows stem from individual transactions or are part of an exchange’s in-house shuffling. 

Shiba Inu large holders inflow
Shiba Inu large holders’ inflow

Previous Spike in Large Holders Inflow 

The last time Shiba Inu experienced a spike in large holders’ inflows was on June 23. At the time, these large Shiba Inu addresses received roughly 3.06 trillion SHIB tokens in a single day. 

Prior to this development, large addresses collectively held 15.05 trillion SHIB tokens as of June 23. Despite how significant this figure may appear, it pales in comparison to the 33.59 trillion inflow recorded on January 7, 2025.

As previously reported, leading crypto exchange Crypto.com played a major role in January’s inflow spike. Notably, the exchange transferred over 32 trillion SHIB tokens to an unlabeled address across 20 transactions. 

Despite January’s substantial inflows, Shiba Inu’s price remained relatively stable around the $0.000021 mark.

Large Holders Outflow Soars 

Meanwhile, data from IntoTheBlock also shows that Shiba Inu experienced a spike in large holder outflows on July 10. According to the data, roughly 1.28 trillion SHIB tokens exited large addresses that day.

Nonetheless, Shiba Inu’s net inflows still surpassed the outflows on July 10, indicating net accumulation rather than profit-taking. 

Shiba Inu large holders outflow
Shiba Inu large holder outflows

Shiba Inu Reclaims $0.000013 

These developments come as Shiba Inu surged above the $0.000013 mark for the first time since June 11, when it reached a daily high of $0.0000136. Shortly after breaking into this range yesterday, SHIB achieved a one-month high of $0.00001365.

At the time of writing, SHIB was trading at $0.00001344. This reflects a 15.55% gain over the past seven days and a 5.98% increase in the last 24 hours.

While the recent surge in net inflows among large Shiba Inu holders may have supported the price rise, it also coincides with a broader relief rally across the cryptocurrency market.

For context, Bitcoin reached a new all-time high of $118,443 earlier today. The leading cryptocurrency is currently up 6.47% over the past 24 hours. Similarly, major assets like Ethereum and XRP have posted significant gains of 8.61% and 5.84%, respectively, during the same period.

Analyst Says Nothing Exciting Until XRP Breaks $3.84

Abdulkarim Abdulwahab
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Analyst Says Nothing Exciting Until XRP Breaks $3.84

XRP is gaining fresh bullish traction amid renewed optimism in the crypto market.

However, one prominent voice in the XRP community is urging caution about getting too excited, at least, not yet.

XRP Climbs, But Eyes Still on $3.84

At press time, XRP is trading at $2.64, having gained over 8.5% today and 18% over the past week, fueled by Bitcoin’s explosive surge to over $118,400. XRP’s current level marks a two-month high, with the coin last trading above $2.60 back in May.

With this ongoing move, XRP is looking to challenge the $3 resistance as the effects of the Bitcoin-led pump continue. This turnaround is generating excitement in the community, with pundits sharing new outlooks for the coin.

However, while XRP’s price has strengthened, Digital Assets Daily, a well-known XRP advocate, argues that the real excitement won’t begin until XRP breaks its all-time high (ATH) of $3.84. Notably, XRP set this peak value back in January 2018.

Is XRP Still Really Below a 7-Year Peak?

The cautious viewpoint highlights that XRP has yet to achieve a new price milestone after over seven years. Meanwhile, analyst Jack Riley disputes this perspective, stating that no actual trade occurred above the $3.31 mark for XRP in 2018.

This view aims to challenge the widespread narrative that XRP hasn’t broken a peak in almost eight years. For context, XRP reached $3.40 in January 2025, which some have labeled a new all-time high. However, several data aggregator platforms report otherwise.

Riley maintains his position, citing Ripple’s CTO, who reportedly stated that the highest actual trade for XRP in 2018 was around $2.80, not even reaching the $3 level. Other commenters supporting this stance claim the $3.84 figure was due to a glitch on Korean exchanges.

Community dispute over XRP ATH Price
Community dispute over XRP ATH Price

Nonetheless, the push toward the $3.84 level has become a psychological barrier. Surpassing it would not only mark a technical breakthrough but also be a symbolic victory for long-time XRP holders, as the coin would shed its label as an underperformer.

What Comes After $3.84?

If XRP does push past the $3.84 mark, it could trigger new buying and price discovery. Analysts have widely speculated about what could happen beyond this point.

Analyst Alex Cobb has projected a $22.54 target by the end of 2025. Bitcoin analyst Davinci Jeremie agrees, suggesting it could even reach $24. Meanwhile, Dustin Layton is confident that XRP will hit $50 by year-end, while Javon Marks envisions a staggering $100 target.

While these price forecasts vary, the overall theme is that XRP analysts expect the coin to surpass $10 this year. Still, the $3.84 level remains the key threshold to beat. Until then, many in the XRP community are holding their breath, watching closely for that decisive breakout above the historic high.

Here’s Why This XRP Pump Is Nothing Serious

Sam Wisdom Raphael
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Here’s Why This XRP Pump Is Nothing Serious

Discussions around the market-wide run triggered by Bitcoin have led to suggestions that XRP boasts a more natural pump without external factors.

Notably, Bitcoin recently soared past a new all-time high, climbing above $118,000 during an ongoing market rally. However, as the price climbs, discussions around what’s fueling the surge have emerged, especially after Tether minted another $1 billion worth of USDT. 

XRP Rally More Organic?

For context, the fresh capital injection came just as Bitcoin picked up steam. On-chain tracker Whale Alert first flagged the mint, triggering reactions within crypto circles. Interestingly, this mint came seven days after a previous 1 billion USDT capital injection on July 3.

Shortly after the latest mint, Tether CEO Paolo Ardoino provided clarifications. He said it served to replenish inventory on the Tron network. According to him, the tokens haven’t entered circulation yet and will only come into use when needed for new issuance or chain swaps.

Despite the explanation, the timing has triggered suspicions. Critics have pointed out how similar events in the past often lined up with sudden Bitcoin price jumps. Some also claim Tether initiates these mints from “thin air” and pushes the capital to Bitcoin.

Now, commentators within the XRP community took this cue to draw a line between the two assets. They argue that while Bitcoin’s gains might come from fresh liquidity brought in through USDT, XRP’s rally looks more natural and driven by actual market demand.

Notably, over the past few days, market watchers have called attention to a massive increase in trading activity on Upbit, South Korea’s largest exchange, leading to a surge in volume and netflows. Some questioned why these metrics did not translate to a surge in XRP price at the time. Today, the growing demand appears to be contributing to XRP’s price uptrend, but only after the BTC price rises and altcoins follow.

In the last seven days, Bitcoin has gained 8%. Meanwhile, XRP jumped by a stronger 13.62% within the same time frame. Since the start of the month, XRP has climbed 15.37%, while Bitcoin rose 10%. Although XRP hasn’t hit new record highs, its recent growth appears consistent and, to some, less driven by external factors.

Connection Between USDT Mints and Bitcoin Rallies

The connection between USDT mints and Bitcoin rallies isn’t new. On May 21, 2025, Tether minted $2 billion in USDT. The next day, Bitcoin’s price hit a then-record high of $111,000. Notably, market watchers called attention to the correlation.

Also, analysts at Blockchain Research Lab found that Bitcoin often rises between 0.4% and 0.8% within 30 minutes of a large USDT mint. These jumps occur more frequently when on-chain alert services highlight transactions and spark FOMO across social media. 

Meanwhile, a 2018 study by two American university professors also highlighted this link. Their research found that Tether often issued new USDT after market drops, and those coins regularly flowed into Bitcoin. 

However, market analysts believe these Tether mints merely inject liquidity. They argue that once USDT hits exchanges, traders can use it to buy Bitcoin and other cryptocurrencies, which increases buying pressure and supports rising prices, as in the case of XRP. 

The mere announcement of a mint often boosts confidence and encourages early buying, and as a result of the BTC rise, XRP is up 8% in 24 hours. Meanwhile, other top crypto assets have joined the market run. For instance, Ethereum has rallied 8.24% over the past day, while Solana and Dogecoin have increased by 4.5% and 10.5%, respectively.

BNB appears to have lagged with a mild 2.84% increase within the same timeframe. However, Cardano takes the lead, up 15% during this period.

Nonetheless, others disagree. Some critics question whether Tether fully backs every USDT with real-world reserves. They believe that if Tether prints stablecoins without proper support, it could inflate Bitcoin’s price unfairly and lead to instability.

Bitcoin Expert Confirms XRP Forces Its Way into the BTC Conversations as Demand for XRP Is Real

Abdulkarim Abdulwahab
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Bitcoin Expert Confirms XRP Forces Its Way into the BTC Conversations as Demand for XRP Is Real

Tim Kotzman, host of The Bitcoin Treasuries Podcast, recently shared an unexpected observation that the media won’t stop asking about XRP.

This came during a recent interview with Ben Werkman, CIO at Swan Bitcoin. Despite his Bitcoin-first stance, Kotzman noted that conversations with journalists and financial media consistently veer toward the XRP token.

“On the media side, it has to be controversial. They’re always interrupting, they’re always asking about XRP,” Kotzman said.

This recurring media interest suggests that XRP is a digital asset commanding growing attention across financial sectors.

Mainstream Media Shifting Focus Toward XRP

While Bitcoin often dominates headlines, XRP continues to make its way into the spotlight. Media outlets, even when hosting staunch Bitcoin supporters, are increasingly seeing mentions of XRP cropping up. Its role in global finance raises questions, prompts opinions, and sparks discussions about its long-term potential.

For instance, media personality and DDTG Global founder Dave Portnoy shared at CoinDesk’s 2025 Consensus conference his bullish stance on XRP. He compared its potential to Bitcoin’s early days and remarked that he sees XRP potentially becoming the next Bitcoin. Hence, he maintains exposure to XRP alongside his Bitcoin portfolio and others.

Separately, Bitcoin advocate Ian Carroll, host of The Carroll Show, shared at the Bitcoin 2025 conference that he’s learning about XRP. He admitted he hasn’t done deep research on XRP’s use cases or technology, but he’s gradually gaining knowledge about XRP.

On FOX Business News months ago, portfolio manager Adam Johnson discussed how using cryptocurrency as a bridge currency could cut capital requirements for cross-border transfers in half, highlighting XRP’s potential role. 

Johnson noted the financial industry hasn’t fully embraced this yet but expects adoption soon. The XRP community, including expert Linda Jones, reacted enthusiastically, celebrating the recognition.

Essentially, these remarks confirm that media interactions frequently turn to XRP, despite their Bitcoin-centered focus. This trend reflects a broader curiosity from traditional finance players and journalists, many of whom are now taking XRP more seriously.

Beyond Media Buzz

Meanwhile, beyond media buzz, XRP is seeing real interest from Wall Street. Trillion-dollar asset manager Franklin Templeton plans to offer shares of XRP spot ETFs by the end of this year, pending approval from the SEC. 

Multi-billion-dollar asset managers like Grayscale and Bitwise are pursuing similar initiatives. At the same time, multiple ETFs for XRP futures are live, with more set to launch this month.

Teucrium CEO Sal Gilbertie explained in a Bloomberg interview that the company launched a 2X Leveraged XRP ETF due to a strong belief in XRP’s real-world utility and solid development team. 

Teucrium has filed for an inverse product, signaling continued confidence in XRP’s growth potential. According to the CEO, the company does not launch funds unless it truly believes in the asset and just needs to expand.

Aside from the ETF front, XRP is also seeing surging demand from firms seeking to hold the coin on their balance sheets. At least eight firms have announced plans for such acquisitions, disclosing purchases up to $1 billion to fund XRP treasuries. These moves confirm increased interest and demand for XRP.

Bloomberg Terminal Switches Bitcoin Price Scale to Show BTC in Millions, Is Something Brewing?

Elendu Benedict
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Bloomberg Terminal Switches Bitcoin Price Scale to Show BTC in Millions, Is Something Brewing?

Discussions around Bitcoin reaching million-dollar valuations are becoming more predominant, and even the Bloomberg Terminal is redressing its price scale to align with this.

For context, Bloomberg Terminal is an institution-grade system that provides real-time financial data and analytical tools for professional market users. Interestingly, the industry-standard financial tool appears to be super bullish on Bitcoin’s price, as seen in its recent price scaling.

Jacquelyn Melinek, the founder of Token Relations, highlighted that the Bloomberg Terminal now scales Bitcoin’s price in millions. To some, this may mean nothing, but to so many others like her, its meaning goes beyond just a scaling switch.

Bitcoin to Millions?

Notably, Bitcoin broke a new all-time high of $118,404 today, hitting new highs for the third consecutive day now. On other platforms like TradingView, it trades at $118,090 at the time of writing. But on the Bloomberg Terminal, Bitcoin’s spot price (XBT) is trading at $0.118M.

Bitcoin Price Bloomberg Terminal
Bitcoin Price | Bloomberg Terminal

This does not go without notice, as it brings the vibes of a million-dollar valuation for Bitcoin to life. Furthermore, it not only highlights a tone switch from skepticism to belief but also brings to the notice of institutions using the platform that Bitcoin could attain the price level in the future.

Notably, this scale switch has excited the cryptocurrency community. “Bloomberg knows precisely what’s coming sooner,” a user stated. Others also shared that it is a sign, and the million-dollar valuation is inevitable.

This bullish perspective also aligns with the perspective of industry leaders, who have reacted to Bitcoin’s persistent price upsurge. For context, Binance’s Changpeng Zhao called the current price a dip, suggesting that prices have further unprecedented prices to conquer.

He noted that mathematical numbers have no limit, and governments would continue to print fiat. On the other hand, Bitcoin has a limited cap, a premise for more upside.

Timeline for Bitcoin to Reach $1M

Bitcoin to $1 million is a common price expectation among most market users. Analysts and enthusiasts have drummed this target so much that it no longer rings a bell. Nonetheless, the 746% price mark from the current standing will be a notable milestone for the pioneering cryptocurrency, once perceived as a bubble.

Top market participants have predicted the timeline for Bitcoin to reach $1 million. For instance, Zhao projected that BTC will attain the price mark this cycle. He noted that an extended bull cycle would ensure Bitcoin hits between $500,000 and $1 million.

Brandon Green also shares a similar sentiment, suggesting the bull cycle would extend to 2026 or 2027. During this market phase, he predicted that Bitcoin would reach $1 million, specifically in late 2026 or early 2027.

Meanwhile, Rich Dad Poor Dad author Robert Kiyosaki predicted that Bitcoin would hit $1 million by 2030. In view of this price explosion, he had incessantly advocated exposure to Bitcoin.

PUMP Token Price Climbs 30% as Pre-Market Volume Rockets Ahead of ICO

Zabi
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0
PUMP Token Price Climbs 30% as Pre-Market Volume Rockets Ahead of ICO

Pump.fun’s native token, PUMP, has recorded $346 million in pre-market trading volume, with prices 30% above its presale level. 

Solana-based memecoin launchpad Pump.fun is generating massive buzz ahead of its Initial Coin Offering (ICO). Specifically, pre-market perpetual trading of its PUMP token is seeing explosive growth across major crypto exchanges.

According to the latest data from Coinglass, the PUMP token has racked up over $346 million in volume. It also has $115 million in open interest. This signals intense investor anticipation ahead of its official launch on Saturday, July 12.

PUMP token price data | CoinGlass
PUMP token price data | CoinGlass

Even before a single token is publicly sold, the token is already trading at a 30% premium. The ICO price is set at $0.004. However, the current pre-market rate has risen to $0.0052, and long sentiment dominates the order books. This dramatic surge suggests widespread confidence in the token’s short-term momentum and long-term potential.

What Are Pre-Market Perpetual Contracts?

Pre-market perpetual contracts are derivative instruments. They enable traders to predict and bet on a token’s price ahead of its official launch. These contracts mirror the anticipated spot price, allowing early market sentiment to be expressed in real time. 

Unlike spot trading, perpetuals are not about owning tokens. Instead, they focus on speculating on price movements, with settlement handled through margin and funding rates.

In the case of the PUMP token, its popularity indicates solid demand and early enthusiasm. These contracts also serve as a price discovery tool, helping set expectations ahead of the token’s listing.

ICO Structure and Token Sale Details

Pump.fun will make 150 billion PUMP tokens available to the public at a set price of $0.004 each. The public sale will follow a first-come, first-served model. It will run until Tuesday, July 15, at 14:00 UTC, or until all tokens are sold.

The ICO is structured in two tiers:

  • Private Sale (18%) – 180 billion tokens already allocated to institutional investors.
  • Public Sale (15%) – 150 billion tokens now being offered to eligible retail participants.

Combined, these make up 33% of the total supply. The ICO is targeting over $1 billion in total, including a $600 million raise from the public sale alone.

The remaining 67% of supply is distributed among the team (20%), community and ecosystem (24%), and existing investors (13%).

Tokenomics and Valuation

The PUMP token has a total supply of 1 trillion tokens, giving it a fully diluted valuation of $4 billion at the ICO price. Only 49 tokens currently hold such a valuation, according to CoinGecko, placing Pump.fun among the most valuable projects even before its token launch.

All tokens sold during the ICO will be fully unlocked at the end of the sale, with a brief 48–72 hour non-transferable period to ensure orderly market rollout.

Participation and Restrictions

To join the ICO, participants must complete KYC (Know Your Customer) verification either via the pump.fun platform or through partner exchanges such as Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate.

Investors need to preload funds onto their chosen platforms to participate, as token allocation is based on the order of purchase.

However, U.S. and UK residents are ineligible to participate. The UK Financial Conduct Authority banned Pump.fun in December 2024. In the United States, the company is facing legal action, including a lawsuit filed in January 2025 in the Southern District of New York.

Beyond Meme Coins: Future Expansion Plans

Since its launch in January 2024, Pump.fun has facilitated the creation of over 6 million meme tokens, generating $250 million in revenue by November 2024. Its low-cost model, under $2 per token launch and a 1% fee, contributed to rapid adoption.

The company has stated that funds raised from the ICO will be allocated to building a decentralized social media platform to challenge major players like Facebook, TikTok, and Twitch.

This marks a significant shift from its current focus on memecoin infrastructure toward broader ambitions. The envisioned platform would allow users to earn cryptocurrency rewards for their activity, offering an alternative to ad-driven, centralized social networks.

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