XRP experienced a significant downturn, dropping nearly 5% amid one of its heaviest trading days in 2025, as institutional investors sold off during the debut of the REX-Osprey ETF. This sell-off erased approximately $11 billion in market value, leaving XRP struggling to maintain its critical support level at $2.77. During the tumultuous trading session, XRP's price fell from $2.87 to $2.77, marking a 4.9% decline within a 24-hour period. The trading volume surged to 656.1 million, six times the daily average, indicating substantial institutional dumping as the market reacted to the ETF's launch.
BitMine Immersion Technologies, led by Tom Lee, announced a $365 million stock sale to bolster its Ethereum treasury, which now exceeds 2% of the total ETH supply. The company aims to accumulate 5% of Ethereum's total supply, reflecting a growing institutional interest in the asset. Following the announcement, BitMine's stock fell by 10%, indicating market skepticism regarding the stock sale despite the substantial capital raise. The firm’s treasury now includes 2.42 million ETH valued at approximately $11.4 billion, positioning it as the largest public holder of Ethereum.
Significant whale activity was noted as a major investor withdrew $122 million in HYPE tokens, coinciding with Arthur Hayes' exit from the asset. This withdrawal raised concerns about potential sell pressure as the market braces for a substantial supply unlock of 237.8 million HYPE tokens starting in November. Additionally, the broader crypto market faced a liquidation cascade, with approximately $1.7 billion in leveraged positions wiped out. This included a notable $1.5 billion in liquidations across major cryptocurrencies, indicating a shift in market sentiment as traders reposition amid increasing volatility.
The recent ETF selloff and institutional activities signal a potential shift in market dynamics, particularly as Bitcoin and Ethereum face downward pressure. With Bitcoin's price hovering around $112,000 and Ethereum experiencing significant inflows, traders are closely monitoring support levels and potential rebounds. As institutional interest continues to shape the market, the upcoming supply unlocks and whale movements could lead to further volatility. Investors are advised to remain cautious as the market adjusts to these developments, with a focus on key price levels that could dictate future trends.
MicroStrategy (MSTR) announced it purchased another 850 Bitcoin (BTC) for $99.7 million, increasing its total holdings to 639,825 coins. This acquisition was made at an average price of $117,344 per bitcoin, raising the company's overall average purchase price to $73,971. The purchase was funded through the issuance of perpetual preferred stock and common stock, with about 80% of the funding coming from common stock sales. Shares of MSTR were down 2.5% in premarket trading as Bitcoin's price slid to about $112,000.
CleanSpark has secured a new $100 million credit line from Coinbase Prime, backed by its Bitcoin holdings. This financing aims to strengthen liquidity and support the company's growth without equity dilution. The funds will be used for energy expansion and mining growth.
Following its best quarter to date, CleanSpark's stock gained 5% after announcing the $100 million financing from Coinbase. This move is part of the company's strategy to scale up its Bitcoin mining operations.
IREN (IREN) shares jumped 11% in pre-market trading to $43 after the company announced it has doubled its AI Cloud capacity to 23,000 GPUs. This expansion raises its annualized run-rate revenue target to more than $500 million by Q1 of 2026. The company invested about $674 million in various NVIDIA and AMD hardware to support this growth.
Binance co-founder Zhao aims to open a $10 billion portfolio to outside investors, signaling a significant move in the investment landscape.
Strive has agreed to acquire Semler Scientific in an all-stock deal, which will increase its combined Bitcoin treasury to over 10,900 BTC.
The cryptocurrency market experienced a sharp downturn recently, with total liquidations reaching approximately $1.68 billion, affecting over 390,000 traders. Notably, Dogecoin led the losses among the top cryptocurrencies, plummeting by 10%, while Ethereum and Solana also faced significant declines of 6% and 7%, respectively. Bitcoin, in contrast, managed to hold relatively firm, only dropping by 2.3% during this period, indicating a divergence in performance between Bitcoin and altcoins amidst volatile macroeconomic conditions.
Despite the recent sell-off, analysts remain optimistic about a potential rebound in the coming weeks. XRP, for instance, has shown resilience with a year-to-date increase of 370%, although it recently fell to $2.82, marking a 5.5% decline on the day. Predictions suggest that XRP could reach as high as $20 by late 2025, indicating a potential upside of nearly 7x from its current price, driven by Ripple's expanding partnerships and the favorable regulatory environment following its legal victories.
In a notable corporate development, CleanSpark, a Bitcoin mining company, secured a $100 million credit facility from Coinbase Prime. This strategic financing allows CleanSpark to expand its operations without liquidating its Bitcoin holdings, reflecting a broader trend among miners to leverage their assets for growth. This move is part of CleanSpark's "Infrastructure First" strategy, aiming to enhance shareholder value while diversifying into high-performance computing capabilities.
Uniswap has recorded over 915 million transactions in 2025, with trading volume surpassing $1 trillion, solidifying its status as the leader in the decentralized finance (DeFi) space. The third quarter of this year is projected to be the highest trading volume period ever, with approximately $270 billion in transactions anticipated. Despite these impressive metrics, the UNI token's value remains stagnant, raising questions about the disconnect between network performance and token holder value.
Forward Industries plans to tokenize its $1.65 billion stock on the Solana blockchain via Superstate’s Opening Bell platform, aiming to become one of the first public companies to issue tokenized equity directly on-chain. This initiative will facilitate 24/7 trading and near-instant settlement, enhancing global liquidity for the company's equity. Additionally, Forward Industries is collaborating with major Solana-based protocols to make tokenized shares usable as collateral within their lending systems, marking a significant step towards integrating traditional equity with decentralized finance infrastructure.
Plasma has introduced Plasma One, the first neobank designed entirely around stablecoins, aiming to streamline the user experience for stablecoin holders. The platform will offer card payments with rewards, zero-fee USDT transfers, and fast onboarding, built on Plasma’s blockchain. The neobank is particularly focused on emerging markets, where access to stable currencies is critical, and is set to launch following the mainnet beta of its stablecoin-optimized layer-1 blockchain on September 25.
Bitcoin's price has recently dipped below significant technical indicators, testing lows of $111,800 before recovering above $112,000. This decline has raised concerns about the sustainability of the current bull market, as Bitcoin is now losing ground against critical moving averages, including the 100-day and 200-day EMAs positioned at $114,635 and $114,180, respectively. The current market sentiment is bearish, as indicated by a taker buy/sell ratio of -0.86, suggesting that selling pressure is dominating the market.
Societe Generale-FORGE has selected Bullish Europe as the first platform to list its USD CoinVertible (USDCV) stablecoin, which was introduced in June 2023 on Ethereum and Solana. The USDCV stablecoin is regulated under the European Markets in Crypto-Assets regulation (MiCA), providing a clearer regulatory framework compared to the U.S., where the full implications of the recently passed GENIUS Act are still pending. CEO Jean-Marc Stenger noted that U.S. residents will not have access to the stablecoin until a clearer regulatory environment is established, which could take several months.
Cheongju, South Korea, has seized cryptocurrency from over 200 residents since 2021 due to unpaid local taxes, totaling around 1.5 billion won ($1.1 million). This action follows a ruling from the Financial Services Commission (FSC) that allows government bodies to engage in crypto transactions. The city has established a trading account on a domestic exchange, enabling it to directly sell seized cryptocurrencies and transfer the proceeds to its treasury.
The UK's Financial Conduct Authority (FCA) has reduced the approval time for crypto service provider applications by 69% since 2023. Despite this efficiency, total applications have decreased by 43.5% over the past two years, indicating a cautious approach from firms awaiting further clarity on UK crypto regulations. The number of successful applications has also declined, although fewer firms are withdrawing their applications compared to previous years.
Tether has refuted claims regarding its withdrawal from a $500 million cryptocurrency project in Uruguay, stating that the local mining operator is still collaborating with the government to address existing issues. This clarification comes amid ongoing discussions about Tether's global operations and partnerships.
Keyron Moore has been sentenced to 13 years in prison for his role in a 2022 kidnapping case where a ransom of $1 million in Bitcoin was demanded. This case highlights ongoing concerns regarding the use of cryptocurrencies in criminal activities, prompting discussions about regulatory measures to combat such incidents.
Plasma has introduced a new "neobank" designed specifically for stablecoin users, facilitating payments, savings, and transfers in emerging markets. This initiative reflects the growing integration of traditional banking services with cryptocurrency solutions.
Thai authorities have busted a $15 million criminal enterprise that victimized over 870 South Koreans, in what one expert calls a case study of “multi-layered laundering.” The Seoul Metropolitan Police Economic Crime Investigation Division announced Monday the arrest of 25 members of "Lungo Company," a fraud ring that deployed multiple scam tactics, including romance schemes, crypto fraud, and fake lottery compensation offers. Thai police separately detained the ringleader and eight core members, who remain in custody pending extradition to South Korea, according to a local media report.
A crypto-focused livestreamer raising money to help fund treatment for his stage 4 cancer was drained of more than $31,000 in crypto after he downloaded a malicious game on popular PC platform Steam. Fortunately, the crypto community has rallied behind the content creator, pumping his token, sending him replacement funds, and tracking down the hackers.
UXLINK identified a security breach involving its multi-signature wallet, resulting in crypto being illicitly transferred to CEXs and DEXs.
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