11 May 2025, 15:40

Pump.fun deposits $22.8 million in SOL to Kraken amid renewed protocol activity

Solana-based memecoin deployer Pump.fun has transferred 132,000 SOL worth around $22.88 million to Kraken. The move continues the protocol’s practice of selling off SOL, which is collected as transaction fees. According to EmberCN, Pump.fun has sent SOL to Kraken every week or two after accumulating transaction fees. The popular memecoin launchpad had already deposited 105,233 SOL tokens worth around $16 million to Kraken on May 3. Pump.fun recent SOL sales (Source: EmberCN) EmberCN said: “Pump.fun will transfer these SOLs to Kraken after accumulating one to two weeks of transaction fee income.” With the recent sale, Pump.fun has sold over $38 million worth of SOL this month alone. While this reflects its selling behavior, the fact that it deposited a higher amount of SOL in its latest transfer than more recent ones suggests that it might be seeing a resurgence in activity, driving up its transaction fees. Data from Dune Analytics support this, with the protocol seeing an increase in its daily volumes this month. In the last 24 hours alone, over 26,000 tokens have launched on the protocol. Pump.fun sells over $700 million SOL in more than a year While the recent selloffs by Pump.fun are not surprising, the timing brings back the debate over the impact of the memecoin launchpad on the Solana ecosystem. On the one hand, the platform allowed Solana to become the leading network for memecoins, thereby boosting the chain activity. However, concerns about how Pump.fun is only extracting value from the Solana ecosystem have grown with every SOL sale by the protocol, with many believing it has caused more harm than good. Despite the differing opinions, the one clear thing is that Pump.fun SOL sales represent a major selling pressure for the token. Interestingly, the platform has sold 3.868 million SOL tokens worth over $701.76 million in more than a year, with an average price of $183.3. Its latest sales even coincide with the SOL price resurgence, leading to speculation that it might be taking profits. The token has seen a 45% rise in value in the last 30 days, making it one of the best performers in that period. Meanwhile, SOL is now trading around $171, with its value steady over the last 24 hours despite the recent sell-offs by Pump.fun. Although the token is still down 11% year-to-date, many see the recent gains as a sign of optimism and resurgence. Memecoins are up 82% in average price in the last four months SOL’s positive performance reflects the gains of the memecoin sector in recent weeks. According to CoinMarketCap, the sector has seen an increase of 58.78% in its market cap over the last 30 days, while the average price has also increased by 82.43%. Almost all the major cap memecoins, starting from the leading token DOGE, have recorded at least double-digit gains in the past month. Outliers such as WIF, PENGU, BRETT, and PNUT have even seen over 100% increase in value. While the broader market performance has also influenced memecoin gains, the sector’s substantially higher growth during the period suggests that investors might be interested in memecoin again. Still, not everyone is sold on memecoins. A recent report by Solidus Labs claims that 98.6% of tokens launched on Pump.fun are pump and dump schemes or rug pull while. It added that only 97,000 of the seven million memecoins launched through the platform had maintained at least $1,000 liquidity. The report represents a criticism of a sector many believe exemplifies everything wrong with the crypto industry, where bad actors continue to embezzle billions and retail investors leave with losses. However, Pump.fun has pushed back on the criticisms, stating that the long-term worthlessness of memecoins is a feature, not a bug. The protocol spokesperson, Troy Gravitt, stated that a functioning marketplace for those who want to trade is more important. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

11 May 2025, 15:35

Here Are XRP Price Predictions if Its Market Cap Hits $700B, $1.5T, and $3T

XRP boasts a market cap of around $140 billion, making it the fourth-largest crypto asset, behind only Bitcoin, Ethereum, and Tether's USDT. At this valuation, XRP has a unit price of $2.40, following a 9% surge over the past week. Although XRP has hovered around the $2 mark for over three months, analysts have projected much higher valuations for the asset in this cycle and the coming years.Given the widespread optimism surrounding XRP’s future performance, The Crypto Basic analyzes the potential prices of XRP at ambitious market caps of $750 billion, $1.5 trillion, and $3 trillion.XRP Price at $750B CapXRP currently has a circulating supply of 58.55 billion tokens. Based on this supply:At a $750 billion market cap, XRP’s price would be approximately $12.81 per token. This would mark a new history for XRP, moving into double-digit territory. This valuation requires a 433.73% increase from its current price of $2.40.Remarkably, a $750 billion valuation would place XRP ahead of JPMorgan Chase , currently valued at $703 billion. Instead, XRP would be in direct competition with Walmart, which has a valuation of $773 billion.XRP Price at $1.5 Trillion — Ahead of Meta (Facebook)Even loftier price targets await XRP if it continues its rally and crosses the trillion-dollar threshold. Specifically, a $1.5 trillion market cap would result in a unit price of $25.62 , based on the current circulating supply. Many crypto analysts like Davinci Jeremie argue that $25 is a reasonable target for XRP in this cycle. Some suggest this level could be achieved during a potential XRP supercycle. XRP would need to rise 967.5% from its current value to reach this price. Interestingly, a $1.5 trillion valuation would put XRP ahead of Meta Platforms (Facebook), which is currently valued at approximately $1.489 trillion.At that level, XRP would be challenging Saudi Aramco, which has a valuation of $1.601 trillion. Moreover, reaching a $1.5 trillion market cap would position XRP among the top ten most valuable assets globally.XRP Price at $3 Trillion — Ahead of Apple and GoogleShould XRP’s bull run extend even further and its market cap double to $3 trillion, its unit price would be $51.24. This scenario would require an extraordinary growth of 2,035% from today's value.A $3 trillion valuation would place XRP ahead of tech giants like Apple, NVIDIA, Amazon, and Google. It could even potentially surpass Bitcoin, currently at a $2.06 trillion market cap, especially if BTC doesn’t grow at a comparable rate. Global market valutions Global market valuations Bitcoin would only remain ahead of XRP if it traded above $152,000 when XRP is priced at $52. Otherwise, XRP could potentially become the most valuable cryptocurrency.If XRP reaches any of these widely speculated valuations in this cycle, it would break multiple records on the global financial stage. However, many market commentators believe that a $52 target for XRP is overly optimistic and likely inflated.

11 May 2025, 15:23

Bitcoin Hovers Near $105K As Traders Debate Next Move

Bitcoin held onto strong gains as it closed the week of May 11, keeping the crypto market in suspense with prices lingering around the $104,500 mark. After a surge driven by weekend volatility, traders are eyeing whether the world’s top cryptocurrency is on the brink of a new breakout. Volatility Fuels Multimonth Highs Data showed Bitcoin reaching a high near $105,000 over the weekend. This jump occurred during low liquidity trading hours and coincided with renewed speculation about a positive shift in US-China trade relations. According to analyst Rekt Capital, the current price level is crucial. “Can Bitcoin do it? Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?” he asked on X. He suggested that Bitcoin may be entering the second phase of its “Price Discovery Uptrend,” a period historically characterized by steep gains. Bull Market May Still Have Room to Run Rekt Capital’s analysis pegged the current bull market as 85.5% complete but noted that some of the most volatile gains may still be ahead. Market monitoring site CoinGlass showed a concentration of sell orders just under $106,000, while buy orders stacked below $102,000 indicated strong interest around the current trading band. This dense liquidity zone suggests both bulls and bears are gearing up for the next significant price move. Skeptics Warn of a Fakeout Despite the optimism, some traders remain cautious. A popular trader known as HTL-NL suggested the current upswing could be a “fake out,” aimed at trapping latecomers betting on more gains. “Will $BTC close/open the week remaining within the range, will it do a ‘fake out (UTAD)’ or was this really a reaccumulation range as many want to believe,” he said. He admitted that while a genuine reaccumulation phase is possible, his primary expectation is that the rally may not sustain itself. Correction Risks Still Linger Il Capo of Crypto, a well-known bearish voice in the space, echoed similar warnings. “This is the time to scale out, not in,” he posted on May 10, cautioning that the rebound since early 2024 could eventually be wiped out if Bitcoin fails to break through resistance convincingly. With strong resistance being tested, the coming days could determine whether Bitcoin will soar to new highs or retreat once again.

11 May 2025, 15:20

Solana’s MOODENG and GOAT May Signal Renewed Interest in Meme Coins Following Binance Alpha Inclusion

Two Solana-based meme coins, MOODENG and GOAT, have experienced significant price increases following their listing in Binance’s Alpha program. The surge in these tokens has rekindled interest in Solana’s meme

11 May 2025, 15:17

Solana and Cardano Show Signs of Accumulation – Is a Major Price Shift Just Around the Corner?

Exciting developments are unfolding in the crypto world as two major players, Solana and Cardano , exhibit patterns of accumulation. Enthusiasts and investors alike are increasingly attentive, sparking curiosity about impending price movements. With market dynamics shifting, a notable rise in these digital assets could be on the horizon. Dive deeper to uncover which coins might be primed for growth. Solana Price Dynamics: Recent Surge Amid Long-Term Correction SOL recorded a 55.64% increase over the last month while showing a 21.16% decline over the past six months. A 19.53% gain in the past week adds to a volatile picture with a mix of short-term bullish activity and longer-term downward pressure. Price action over these periods points to a notable rally in recent times contrasting with an extended period of loss recovery, reflecting a dynamic yet unsettled market history. Current trading sees prices fluctuating between $109.64 and $171.28. Resistance stands strong at $194.93 while support appears at $71.65. Bulls show recent strength, but no clear trend emerges. Consider buying near support and selling as prices approach resistance. Cardano Rally: Recent Momentum and Key Trading Levels Last month showed a strong upward movement with a 32.68% gain, adding to a six-month increase of around 31.60%. The coin displayed noticeable weekly strength of over 15%, indicating fresh buyer interest and growing momentum. Price activity over these periods shows that Cardano has maintained relative gains, attracting attention from traders looking for a steady upward channel. Cardano current prices are trading between $0.55 and $0.78, with immediate resistance at $0.88 and support at $0.41. Bulls appear to be in control as the asset approaches these levels, although a clear trend has not firmly established itself. Traders may consider waiting for a break above $0.88 or a dip toward $0.41 to refine their entry points. Conclusion SOL and ADA are showing signs of increased interest from buyers. This accumulation often hints at a possible rise in value. Market movements support a potential price surge. Investors are watching closely, anticipating a significant shift. Overall sentiment appears positive, as the buildup continues. This trend suggests a keen eye should be kept on future developments. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

11 May 2025, 15:11

Could Bitcoin Bullish Momentum Overcome Short-Term Holder Pressure to Avoid a Bull Trap?

As Bitcoin markets fluctuate, the question on everyone’s mind is whether the bulls can sustain their momentum amidst rising uncertainties. Bitcoin’s current setup carries both promise and peril. Is BTC