Home Blog Page 635

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

Zabi
-
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.

Expert Says Cardano Ultra Bullish Push Confirmed, Highlights Next “Easy” Bullish Target

Elendu Benedict
-
0
Expert Says Cardano Ultra Bullish Push Confirmed, Highlights Next “Easy” Bullish Target

It could be all bullish for Cardano from here on, as an analyst has identified a favorable reaction to a crucial support line.

MasterAnada shared this bullish scenario in a recent TradingView analysis amid a positive turn for Cardano. The blue-chip asset has joined a broader market growth trend, exceptionally outperforming its peers.

For context, ADA is up 13% in the past 24 hours, the largest among the top 10 cryptocurrencies by market cap. Its seven-day price performance also ranks the best, appreciating 19.57% in the timeframe.

Bullish Development for Cardano

Some of the catalysts of this bullish momentum are its recent golden cross. For context, The Crypto Basic reported that Cardano recorded its first-ever weekly crossover between the 50-day and 200-day moving averages, indicating a bullish trend is now underway.

Also, in a previous report, MasterAnanda identified another catalyst: Cardano is now moving above the MA200. His earlier analysis highlighted that ADA can only flip bullish if it breaks above the trend indicator. Interestingly, ADA is now doing this in grand style.

Now, his latest analysis highlights that the long-awaited breakout is here. Its massive weekly candlestick has seen it break above MA200, currently at $0.644. This sets ADA up for prolonged bullish trends.

Cardano Price Analysis MasterAnanda
Cardano Price Analysis/MasterAnanda

Meanwhile, Cardano has continued to hold up nicely above a crucial support level even before this uptrend, with the five-month-old demand zone providing the much-needed momentum for this recent run. The analyst noted that it is all aligning bullishly for Cardano from here on, with Bitcoin’s steady surge to unprecedented prices also providing the required firepower for this bullish wave.

Cardano Sets Sight Above $1

The result of this building momentum will be an easy ultra-bullish wave to prices above $1. Specifically, the analyst predicts a major higher high trend similar to those seen between November and early December 2024.

He projects a surge to $1.83, a price level last seen in November 2021. From the current market price of $0.690, this represents a 165% price uptrend.

Interestingly, MasterAnanda insisted that the target is conservative and is just the start of Cardano’s uptick. He recommended going all in now on ADA and other altcoin positions, noting that they will experience strong long-term growth from here on.

Bullish Targets for ADA

As MasterAnada highlighted, the run to $1.83 is just the beginning, and some analysts share a similar perspective. For instance, Bitcoinsensus identified an ascending broadening wedge that could push Cardano to $2.40.

Meanwhile, market veteran Dan Gambardello believes Cardano would break above its current all-time high of $3.16 to $10. He called the price target realistic, aligning with another projection from Ssebi. Notably, the latter highlighted Bitcoin DeFi developments, spot ETF prospects, and US crypto stockpile inclusion as possible catalysts for this 1,349% price surge.

Last Chance to Swap BTC to XRP Before It’s Too Late: Pundit

Sam Wisdom Raphael
-
0
Last Chance to Swap BTC to XRP Before It’s Too Late: Pundit

Amid the recent Bitcoin all-time highs, a market pundit has insisted that this might be the last opportunity for BTC holders to divest to XRP.

This bold suggestion came from Edoardo Farina, a well-known XRP community figure and founder of Alpha Lions Academy. Notably, Farina has consistently urged Bitcoin investors to divest their BTC investments and enter the XRP market. 

“Divest from Bitcoin to XRP Before It’s Too Late”

However, this suggestion is rather audacious, especially as it comes at a time when Bitcoin has been outperforming XRP. For context, Bitcoin is up 26.15% this year, while XRP, which is just catching up, has gained 24% within the same timeframe.

Also, the commentary comes as Bitcoin has entered a price discovery phase, consistently claiming new all-time highs over the past two days. Notably, despite XRP performing better than Bitcoin within these two days, it still trades below both its all-time high of $3.8 and its yearly peak of $3.4.

While some investors could see this as a discouraging metric, market commentators like Farina believe it is favorable. In his most recent disclosure, Farina presented this period as a last chance to enter the XRP market, possibly because he feels XRP is on the verge of taking off to higher levels.

Notably, Farina also charged investors to accumulate XRP when it traded for $0.5 just last year. Specifically, in October 2024, as it struggled at $0.5 to $0.6, the market pundit suggested that every man with ambition should aim to hold at least 10,000 XRP, then worth around $5,000. A month later, XRP broke out, outperforming Bitcoin.

XRP Could Outperform Bitcoin

Now, Farina believes a similar run where XRP outpaces BTC could emerge. As a result, he has urged urgency. Also, while Bitcoin has continued to rise, its market dominance appears to be declining, suggesting that investors are gradually taking profits on their Bitcoin investments and rotating to altcoins.

Bitcoin Dominance Dropping
Bitcoin Dominance Dropping

Importantly, this is the premise on which the altcoin season emerges. Amid this trend, Farina is suggesting that Bitcoin holders focus on XRP, which has already displayed its potential to register massive price surges during periods of uptrend. Also, XRP tends to show more resilience during downtrends than most of the market.

Notably, the latest comments are part of a campaign that Farina appears to have launched against Bitcoin in recent times. Responding to one of Saylor’s usual X posts around Bitcoin yesterday, Farina claimed the Bitcoin ship was sinking like the Titanic, but Saylor has continued to double down.

Besides Farina, other market pundits have also insisted that investors could see better returns from XRP than Bitcoin. For instance, recently, Johnny, a crypto analyst and founder of Merlin, suggested that for Bitcoin to yield 2x gains, it would need to add another $2 trillion to its market cap. Meanwhile, XRP would only need to add around $130 billion to present 2x gains to investors.

Japan Real Estate Giant GATES Launches $75M Tokenization Pilot in Tokyo

Zabi
-
0
Japan Real Estate Giant GATES Launches $75M Tokenization Pilot in Tokyo

GATES Inc. is tokenizing $75 million worth of income-generating real estate in central Tokyo using the Oasys blockchain, aiming to streamline access for foreign investors.

GATES, a Japanese real estate investment company, disclosed its intention to convert $75 million worth of income-generating properties in central Tokyo into digital tokens on the Oasys blockchain. This strategic initiative aims to ease the entry of international buyers into Japan’s $20.5 trillion real estate market.

In a statement Thursday, the company said it intends to scale rapidly. Its long-term goal is to tokenize over $200 billion worth of real estate, representing about 1% of the national market. The initiative represents one of the largest property tokenization efforts by a Japanese company to date.

Global Trend: Real-World Asset Tokenization on the Rise

The development comes as tokenization, the process of turning real-world assets into digital tokens on a blockchain, has gained global traction in recent years. From real estate to equities, institutions are exploring the potential of blockchain to streamline transactions and enhance transparency. 

For context, Dubai estimates that its tokenized real estate market will grow to $16 billion by 2033. On a global scale, projections from BCG and Ripple suggest the tokenized asset market could reach $18 trillion by that time.

Founded in 2012, GATES Inc. offers end-to-end property investment services. In 2024, the company reported revenue of $145 million. It has also submitted paperwork for a potential IPO on Nasdaq.

GATES aims to simplify property acquisition for international buyers by leveraging blockchain. These buyers often struggle with Japan’s legal complexities, high fees, and language barriers.

Through tokenized ownership, investors can trade property-backed tokens on decentralized platforms without relying on local brokers or institutions. To comply with regulations, the tokens will be issued through an overseas special purpose vehicle (SPV).

Partnership with Oasys Blockchain

The tokenization initiative is being carried out in collaboration with Oasys, a layer-1 blockchain initially designed for gaming applications. 

Recently, Oasys has redirected its focus from gaming to tokenizing real-world assets, especially Japanese content and intellectual property. This shift is part of a broader strategy to integrate blockchain technology into traditional sectors, including finance and real estate.

Following the initial Tokyo rollout, GATES aims to expand its tokenized property model to the U.S., Southeast Asia, and Europe. In later phases, the company may also explore tokenizing intellectual property from Japanese media franchises, turning pop culture assets into digital investment opportunities.

Analyst Says Shiba Inu Set for 1,529% Price Explosion, as SHIB Season Still Early

Elendu Benedict
-
0
Analyst Says Shiba Inu Set for 1,529% Price Explosion, as SHIB Season Still Early

The bullish wave on Shiba Inu is still in its early stages, as an analyst has predicted a rally, canceling one more zero to prices never seen before.

While Bitcoin is hitting new all-time highs, analyst MasterAnanda has emphasized that Shiba Inu may be a better play, as its bullish momentum is still very early. From here, he predicts an over 1,000% uptick to unprecedented prices.

Shiba Inu’s Massive Wave Still Early

The market watcher shared that Shiba Inu may have been having an uneventful bull cycle before now, but things are about to change quickly from here on. He highlighted that SHIB has been in a clear bearish trend since March 2024, making lower highs and lower lows.

Shiba Inu broke to a high of $0.00004567 in March 2024 but faced massive price rejection from there to close at $0.00003074. The meme coin has been trending within a descending triangle, trading more around the base of the structure amid prevalent bearishness.

Shiba Inu Analysis MasterAnanda
Shiba Inu Analysis/MasterAnanda

Meanwhile, Shiba Inu may be on the cusp of a trend reversal. The analyst highlighted that SHIB has printed a “full green” weekly candle, and prices might go parabolic from here. Notably, Shiba Inu is up 15% on the weekly timeframe and could print its most bullish candlestick since the week of May 4’s 25% growth.

Nonetheless, Shiba Inu remains below the 200-day moving average (MA200), a clear sign its bullish momentum is still early. The indicator typically represents the current bias of an asset, with a trend above suggesting a bullish trend and below a converse signal.

As a result, MasterAnanda stated that Shiba Inu needs to clear this indicator for a long-term bullish bias. At the current market standing, the MA200 trends at $0.00001634, 19% away from the current market price.

Euphoria, Higher Prices, and a New All-Time High for Shiba Inu

From here, the analyst predicts an explosive price development for Shiba Inu, one that will create euphoria among its holders. He highlighted the minimum price target for Shiba Inu in 2025 and its highest possible price target this cycle.

First, he suggests a breakout from the current triangle to $0.00003203, aligning with the 0.50 Fibonacci retracement. The next move will be to the 1.618 Fibonacci level at $0.00006767, followed by the 2.618 extension at $0.0001032. According to the analyst, $0.0001032 is the minimum new all-time high for Shiba Inu this year.

Meanwhile, he predicts further upsides to two more Fibonacci levels: 3.618 and 4.618. This represents new all-time highs of $0.0001743 and $0.000220491, which are 1,183% and 1,529% away from the current market price of $0.00001353.

Interestingly, the ambitious $0.00022 price target is not a new projection for Shiba Inu. Expert Alan Santana shared a close price outlook in an earlier commentary, citing a similar descending triangle breakout.

Early Shiba Inu Investor Regrets Selling 2.1% SHIB Supply That Could Have Earned Him $882 Million

Lele Jima
-
0
Early Shiba Inu Investor Regrets Selling 2.1% SHIB Supply That Could Have Earned Him $882 Million

A crypto investor recounts how he missed a golden opportunity with Shiba Inu by selling his holdings too soon. 

Earlier this week, crypto users took to X to share their biggest regret in the crypto space. Some narrated how they missed a chance to buy a particular asset when it was at a lower price. Others recounted how they sold their crypto holdings too early before the major pump.

User Sells 2.1% SHIB Supply Early

Crypto investor Rick Primes shared how he sold a substantial volume of Shiba Inu too soon. The early SHIB investor claimed he initially held 2.1% of Shiba Inu’s supply at one point.

Since Shiba Inu originally launched with a total supply of 1 quadrillion tokens, this 2.1% would have equated to 21 trillion SHIB. Based on the current supply of 589 trillion tokens, this would now represent around 11 trillion SHIB. However, the investor did not disclose the exact figure he held.

Meanwhile, Primes sold this large stake before Shiba Inu’s massive rally in 2021. After his initial sale, he returned and acquired more SHIB tokens.

At that time, Primes said he accumulated 0.8% of the total SHIB supply. However, he eventually sold those tokens again, for roughly $20 to $30 million.

Soon after, he watched the price of Shiba Inu skyrocket, eliminating any realistic chance of buying back in.

Reflecting on the 2.1% stake he sold too early, Primes claimed the holding would have been worth around $882 million at the “omega top,” Shiba Inu’s all-time peak.

Notably, Shiba Inu reached a peak price of $0.00008845 on October 28, 2021. Many investors reported life-changing gains from SHIB, including some who claimed to have become billionaires.

Shiba Inu Early Days

Shiba Inu, which was once dismissed as just another meme coin, stunned the broader crypto market with its jaw-dropping rally in the 2020/2021 cycle. Having launched at an initial price of  $0.000000000056, Shiba Inu succeeded in eliminating six leading zeros and spiked to an all-time high of $0.00008845 within 14 months.

Before this rally, Shiba Inu tested investors’ patience. By late 2020, it often seemed as though the development team had vanished. During this period, most investors liquidated their holdings, while a few remained patient.

Things started turning around in early 2021 when several major crypto exchanges, including Binance, listed SHIB on their platforms. In May 2021, Shiba Inu’s pseudonymous founder, Ryoshi, drew attention to the project by gifting half of SHIB’s total supply (500 trillion tokens) to Ethereum co-founder Vitalik Buterin.

Shortly after receiving the tokens, Buterin burned over 410 trillion SHIB by sending them to a dead wallet and donated the remainder to charity. This move cleared the path for Shiba Inu’s subsequent surge to its peak.

Although Primes missed out on a potential ten-figure fortune, he still managed to earn up to $30 million from his second SHIB sale. Many others didn’t get the opportunity to earn substantially from SHIB after selling early.

Yet, a handful of other early SHIB investors also raked in millions of dollars from Shiba Inu. A case in point was two brothers from New York who saw their small investment of $7,900 balloon into $9 million.

Here’s Why XRP to Quickly Rally to $11, $20, or $30 Soon

Sam Wisdom Raphael
-
0
Here’s Why XRP to Quickly Rally to $11, $20, or $30 Soon

A market analyst believes XRP is now on the verge of rallying to any of his two-digit targets after the retest of a crucial EMA.

The recent commentary comes on the back of XRP’s latest recovery push on the back of a broader market-wide upward campaign. Notably, while Bitcoin (BTC) has continued to set new all-time highs, XRP has equally rallied, recently reclaiming $2.5 with a 14.42% increase in the past week.

Amid this bullish phase, EGRAG is now predicting a continuation of the uptrend, citing historical data as his inspiration. Importantly, his latest analysis revolves around the 21-period EMA on the 2-week chart. EGRAG has identified a pattern surrounding this crucial moving average, which will determine XRP’s next direction.

Data from his chart shows that whenever XRP breaks above this 21 EMA and comes back to retest it as support after hitting a roadblock during the initial rally, it often rallies again once the retest successfully concludes. 

Historical XRP Price Action Around the 21 EMA

Interestingly, this pattern has played out twice in XRP’s history. In the first instance, XRP soared above the 21 EMA in March 2017 after nearly two years of trading below it. Following the breakout, XRP initially rallied 7,085% to a high of $0.3988 in May 2017 but faced resistance and pulled back. 

After the pullback, XRP consolidated for several months. During this period of range-bound price action, it dropped to retest the 21 EMA as support. Importantly, this retest was successful, as XRP displayed enough resilience not to collapse below the 21 EMA support. After the retest, the second rally erupted, leading to a 1,400% rise by January 2018.

This pattern played out again during the 2020/2021 cycle. Specifically, in November 2020, XRP rallied 177% to break above the 21 EMA. However, it faced resistance at the $0.79 high and subsequently collapsed. The pullback led to a retest of the 21 EMA, but XRP held above the support. Following the retest, XRP again surged 455% to $1.9 in April 2021.

XRP Price Action Around the 21EMA EGRAG Crypto
XRP Price Action Around the 21EMA | EGRAG Crypto

XRP Eyes $11, $20, or $30 if History Repeats

Notably, both patterns played out during bull runs. Now, in the current bull run, a similar price action is taking shape. First, XRP broke above the 21 EMA when it rallied 580% from November 2024 to January 2015, hitting a high of $3.4. However, this peak introduced massive resistance, leading to a pullback in February 2025.

Since then, XRP has continued to consolidate, having recently retested the 21 EMA as support and held above it. Now, EGRAG is predicting a recovery similar to what happened in 2017/2018 and 2020/2021. 

Accordingly, EGRAG has presented three targets, leveraging the rallies of the previous instances. He says if XRP follows the 2020/2021 pattern and rallies 455%, its price could reach $11. However, if it mirrors the 2017/2018 run of 1,400%, the price target soars to $30. Meanwhile, the average of these targets is $20, representing a 924% increase.

EGRAG also presented some advice to investors. According to him, there is a “Dumb and Smart” indicator they can use to avoid losses. Leveraging this indicator, EGRAG suggested that investors start selling when they’re feeling smart, and buy when they’re feeling dumb.

Scaramucci Says Buying Bitcoin Now Is Like Getting Manhattan Island for Pennies in 1626

Lele Jima
-
0
Scaramucci Says Buying Bitcoin Now Is Like Getting Manhattan Island for Pennies in 1626

SkyBridge Capital Founder Anthony Scaramucci frames Bitcoin as a once-in-a-lifetime real estate deal, akin to Peter Minuit’s legendary purchase of Manhattan Island.

Speaking in a recent interview, Scaramucci suggested that investors in BTC will encounter risks just like early pioneers of any new asset. In his view, these challenges, which come in the form of volatility and uncertainty, are part of the adventure of pioneering a new asset like Bitcoin.

He asserted that investors will reap the rewards that come with being an early adopter so long as they remain resilient amid volatility.

Similarities Between Buying Bitcoin Now and Purchasing Manhattan in 1626

Scaramucci believes that investing in Bitcoin now is similar to when Peter Minuit acquired Manhattan Island around 1626. For context, the Lenape Native Americans sold the Island of Manhattan to Minuit, who represented the Dutch West India Company.

Notably, Minuit acquired Manhattan Island with goods worth 60 Dutch guilders, equivalent to about $24 at the time. Today, acquiring land in Manhattan costs several million dollars, highlighting just how dramatically the value has increased.

In parallel, Scaramucci stressed that buying Bitcoin around $111,000 is very cheap, comparable to when the Dutch acquired Manhattan in 1626.

Bitcoin Is Still Early

Scaramucci argues that the Bitcoin market is still in its infancy, likening it to Manhattan in 1690, undeveloped and without skyscrapers.

According to him, Bitcoin has not yet experienced the explosive growth that Manhattan did by 1990, suggesting the market still holds immense potential.

He noted that, even in 1690, some observers believed owning land in Manhattan was too expensive given the development at the time. Similarly, investors today may view Bitcoin as overvalued without recognizing its future upside.

Scaramucci emphasized that investors must understand the current opportunity of buying Bitcoin around the $100,000 mark—or risk missing out on a potential price surge and later calling it overpriced.

Amid his strong belief in Bitcoin’s prospects, he forecast a potential price of $200,000 this year. Yet, Scaramucci revealed that Solana is his top altcoin holding.

Meanwhile, Bitcoin set a new all-time high earlier today after its price surged to $111,999. It has since retraced slightly and is currently trading at $111,168.

BIT Mining Expands into Solana with $300M SOL Treasury

Abdulkarim Abdulwahab
-
0
BIT Mining Expands into Solana with $300M SOL Treasury

Leading crypto mining company BIT Mining Limited has announced a major strategic expansion into the Solana ecosystem.

In particular, BIT Mining plans to build a SOL treasury valued at up to $300 million. To fund the initiative, the company will raise between $200 million and $300 million in phases, depending on market conditions.

Proceeds from the fundraising will go into accumulating SOL. Meanwhile, the firm will also convert its existing crypto holdings into Solana tokens as part of a long-term holding strategy.

The company says this move seeks to unlock long-term growth by leveraging Solana’s high-performance blockchain and vibrant developer community.

Validator Nodes and On-Chain Staking Rewards

Beyond treasury accumulation, BIT Mining plans to play an active role in supporting the Solana network by operating validator nodes. This will contribute to network decentralization and security. In the process, the company will earn stable on-chain staking rewards, turning infrastructure participation into a revenue source.

Long-Term Vision for Shareholder Value

BIT Mining’s leadership sees this move as part of a broader realignment to create sustainable shareholder value.

In his remarks, Xianfeng Yang, the CEO of BIT Mining, expressed enthusiasm about the company’s latest initiative, describing it as a bold step into one of the most dynamic and promising areas within the blockchain sector. He noted that the decision demonstrates the company’s dedication to remaining flexible and responsive in a rapidly changing industry.

Yang also noted that he is confident of BIT Mining’s strong execution capabilities and long-term strategy. He stated that these strengths position the company to drive sustainable growth and create enduring value for its shareholders.

Notably, BIT Mining is a vertically integrated crypto-mining company involved in mining, data center operations, and hardware manufacturing. The firm owns advanced chip designs for BTC, LTC/DOGE, and ETC mining and is now expanding its role to deepen its presence across the blockchain value chain.

Broader Trend

BIT Mining’s Solana strategy aligns with a broader trend of prominent firms adopting various crypto assets as part of their strategic treasury allocation.

For instance, today, DeFi Development Corp announced the purchase of 153,225 SOL tokens for $23.72 million. This acquisition is part of the Solana strategy that the company began earlier this year. 

With this latest purchase, the company’s total holdings now amount to 846,630 SOL, worth around $133.1 million. In particular, the company is now the largest public holder of Solana by both volume and market cap.

Other crypto assets like XRP and Ethereum are also seeing increased adoption by institutions as treasury assets, joining the trend that MicroStrategy helped popularize with Bitcoin.

Cardano Founder Welcomes as OpenZeppelin Unveils Compact Contracts for Midnight

Sam Wisdom Raphael
-
0
Cardano Founder Welcomes as OpenZeppelin Unveils Compact Contracts for Midnight

Cardano founder reacts as OpenZeppelin, a top name in blockchain security and smart contracts, rolls out its first set of Compact Contracts for Midnight.

In a post on X, the OpenZeppelin team announced that these contracts are now open for public testing. They introduced building blocks for private smart contracts on Midnight, including tools for creating fungible tokens and NFTs. OpenZeppelin is also linked to the official GitHub repository for developers to explore the code.

The GitHub repo, called “compact-contracts,” breaks down the early-stage project. Specifically, OpenZeppelin is building a smart contract library using Compact, a programming language created for Midnight. 

Details of the Midnight Compact Contracts from OpenZeppelin 

These contracts aim to bring secure, privacy-first tools to a blockchain platform built for confidentiality. The goal is to help developers easily create private decentralized apps that fit Midnight’s privacy standards.

Notably, OpenZeppelin clarified that the code is experimental. They opened it for testing but warned developers not to use it in real-world projects yet. Moreover, the team urged anyone who finds issues to report them directly to them.

Importantly, the repo includes smart contract modules like “FungibleToken.” It also features helper tools like Initializable and Pausable, which let developers set up contracts or temporarily stop them when needed. Developers can also test the system using mock contracts provided in the repo.

To work with the code, developers need to install Node.js, yarn, turbo, and the Compact compiler. Notably, the project is still in its early days. So far, three contributors have worked on it, and most of the code is written in TypeScript. Additionally, OpenZeppelin hasn’t yet released an official package, but the team has opened the repository to gather feedback and encourage community involvement.

Responding to OpenZeppelin’s X post, Cardano founder Charles Hoskinson welcomed the team to the Midnight ecosystem. His message showed support for the collaboration and indicated how important this step is for the privacy sidechain’s growth.

Midnight Gradually Pushing Toward Mainnet Launch

Midnight itself has seen multiple recent developments. For instance, on June 11, 2025, the team took a snapshot for the Glacier Drop airdrop. Notably, anyone holding at least $100 in crypto across supported blockchains, including Cardano, Bitcoin, Ethereum, and others, became eligible to claim NIGHT tokens. 

The airdrop kicked off in July and will run for 60 days. Half of the tokens go to Cardano users, while the rest are split between holders of other major coins. Any unclaimed tokens will move to a system called the “Scavenger Mine,” which lets users earn them through computational mining.

Meanwhile, the Midnight ecosystem continues to expand. On July 8, the ecosystem added Bodega Market, a new privacy-preserving prediction market that rivals Polymarket. The Midnight mainnet will go live later this year, around 90 days after the airdrop began.

The network’s native token, NIGHT, powers everything. Holding it earns users DUST, a private resource that covers transaction fees without exposing account activity. DUST burns after use and doesn’t change hands, which helps stabilize fees and protect user privacy.

1...634635636...2,638Page 635 of 2,638