Latest news with #SOL
Yahoo
2 hours ago
- Business
- Yahoo
BTC Faces Golden Fibonacci Hurdle at $122K, XRP Holds Support at $3
Bitcoin: Golden Ratio Eyed As bitcoin (BTC) continues to trade flat in the $116,000-$120,000 range, the monthly chart shows $122,056 as key resistance that needs to be breached to confirm continuation of the bull run. That level represents the 1.618% Fibonacci extension, originating from the December 2018 lows, the December 2022 lows, and the 2021 1.618% extension is highly important because it's derived from the "Golden Ratio," a revered mathematical constant in finance. The level is widely found in nature and art, which is why many believe it also influences human psychology and market movements. After a market breaks above its previous record high in a strong uptrend, as BTC did in November by moving above $70,000, the 1.618% extension is seen as a powerful target area where bulls tend to take profits and bears initiate new positions. It is, therefore, no coincidence that momentum appears to have stalled right around $122,056. A firm move above this level would be an indication that buying pressure remains strong enough to absorb profit-taking and bearish resurgence at key levels, shifting the focus to the 2.618% extension at $187,929. Conversely, continued uptrend exhaustion around the 1.618% level could embolden bears, potentially leading to a top in the bull market. Resistance: $120,000, $122,056, $123,181 Support: $116,000, $114,700, $111,965. XRP: Focus on 38.2% Fib retracement Since last Thursday, the pullback in the payments-focused cryptocurrency XRP (XRP) has stalled, with bears repeatedly failing to establish a foothold below $2.995, the 38.2% Fibonacci retracement of the June-July rally. The price action, when viewed on the hourly chart, suggests a double bottom formation at $2.995, with the neckline resistance at $3.33 (the July 28 high). A move above $3.33 would confirm the breakout and open the door to a retest of the recent high of $3.65. That said, as of the time of writing, the negative daily chart MACD and downward-sloping hourly chart averages suggest otherwise. Traders, therefore, need to keep an eye out for a move below $2.995, which will likely yield a deeper decline. Resistance: $3,33, $3.65, $4.00 Support: $2.995, $2.65, $2.58 Ether: MACD flips bearish Ether is trading indecisively in a wedge-like pattern marked by converging trendlines. However, prospects of a notable pullback are improving, as the daily chart MACD histogram, a trend-following indicator, has flipped negative. The 50-, 100-, and 200-hour SMAs are now flat-lined, indicating a loss of upward momentum. A move below the July 25 low of $3,510 would imply a short-term trend reversal, shifting the focus to $3,000. On the higher side, a FOMO rally may unfold once the $4,000-$4,100 range – the strong resistance zone from 2024 - is crossed. Resistance: $3,941 (the July 28 high), $4,000, $4100. Support: $3,510, $3,000, $2,879. Solana: Rising channel at risk SOL's price is at risk of diving out of the bullish trendline drawn from higher lows established since June 22. Such a move would confirm a bearish shift in trend, potentially leading to a test of the 50-, 100-, and 200-day SMAs, which are coiled at around $160-$162. The lower high of $195 established on July 28 is the level to beat for the bulls. Resistance: $195, $206, 218. Support: $160-$162, $156 (the 61.8% Fib retracement of June-July rally), $126.
Yahoo
9 hours ago
- Business
- Yahoo
CBOE bids to fast-track $8bn XRP ETF investment boom
Exchanges in the US are looking to build an express lane for crypto exchange-traded funds, bypassing the Securities and Exchange Commission's case-by-case review process. A new proposal from Cboe would allow certain crypto-backed funds to be listed automatically if they meet standardised requirements. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation The proposal, filed on Wednesday, seeks to let funds qualify for listing if their underlying crypto assets have been trading as regulated futures for at least six months. Solana will meet that threshold in mid-September, setting the stage for fund approvals by early October if the proposal is finalised in time. XRP would likely follow shortly after. The filing also makes provisions for staking-enabled ETFs by requiring a liquidity risk management plan when more than 15% of a fund's assets are not readily redeemable. This is a likely nod to assets like Solana and Cardano, where staking plays a big role in returns. 'This is the beginning of the crypto ETP fall,' wrote lawyer Greg Xethalis, who flagged the filing on X. He noted that the SEC could approve pending Solana and XRP ETF applications under the new framework, or move independently ahead of the October 10 deadline. Bloomberg Intelligence analyst Eric Balchunas said the rule would open the door to crypto ETFs tied to a familiar list of tokens. 'It's about a dozen of the usual suspects,' he wrote on X, adding that final approvals are 'likely September to October for all.' While this filing only pertains to the Cboe, Xethalis said that major players like the Nasdaq and NYSE will soon follow with their own filings. Solana and XRP testing investor appetite Both Solana and XRP are already seeing early ETF traction. In April, Teucrium launched a leveraged XRP ETF that has since ballooned to nearly $400 million in net assets, dwarfing the firm's traditional agriculture-based products. The fund's 50% surge in July shows just how eager institutions are to gain XRP exposure. JPMorgan estimates that spot XRP ETFs could trigger up to $8 billion in inflows in their first year of trading. Solana is also making inroads. The Rex-Osprey Solana staking ETF, which began trading in early July, allows investors to earn yield while gaining SOL exposure. Analysts at Presto Research called it a 'litmus test' for altcoin ETF demand, saying $150 million in first-month inflows would mark a solid start. Crypto market movers Bitcoin has gained 0.2% in value over the past 24 hours and is trading at $118,660. Ethereum is up 1.2% in the same period to $3,865. What we're reading Roman Storm prosecutors attack privacy 'distraction' in closing arguments — DL News 3 big pieces of news in 24hrs — Milk Road Senator Lummis Introduces Bill to Let Crypto Count Toward Home Loans — Unchained Crypto lender Abra pauses withdrawals as dozens of customers fear their funds are gone — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio
Yahoo
9 hours ago
- Business
- Yahoo
XRP futures outperform Solana on Kraken
XRP futures outperform Solana on Kraken originally appeared on TheStreet. For the first time, XRP perpetual futures on the U.S.-based crypto exchange Kraken have surpassed trading volume for Solana's (SOL) perpetual futures—reflecting a serious spike in investor interest in the payment-focused token XRP. According to data from CoinDesk, XRP perpetuals were $3.48 billion in volume on Kraken this month compared to Solana's $3.23 billion. The volume increase came on the heels of a 40% rise in XRP's spot price to $3.66, while SOL's price increased 17% to $181. Kraken's head of derivatives, Alexia Theodorou, said that the volume increase corresponds with a renewed confidence in XRP, positivity about a more pro-crypto administration led by President Donald Trump, and the conclusion of the SEC lawsuit. The XRP token has benefited the most from the recent pro-crypto sentiment change in the U.S., said Theodorou to CoinDesk, referencing XRP's rise from $0.50 leading into the 2024 election to its most recent all-time is leading the market in volume and market cap, with XRP having a market cap of $184 billion versus Solana's $97 billion. Although XRP leads in market capitalization, SOL surpasses it in total open interest. Coinglass reports that SOL futures' total open interest is $10.69 billion, versus $8.53 billion of XRP futures open interest. Using Kraken alone for this data, SOL has $55 million of open contracts compared to XRP's $34 million. This disparity suggests that, despite more traders actively buying and holding XRP, SOL still exhibits more trading activity, which appears to be speculative. In addition, Bitcoin and Ethereum still have a far greater open interest than any generalized altcoin. With Bitcoin and Ethereum still leading in open interest globally, XRP's recent surge hints at shifting trader sentiment in the altcoin space. XRP futures outperform Solana on Kraken first appeared on TheStreet on Jul 30, 2025 This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared. Sign in to access your portfolio
Business Insider
10 hours ago
- Business
- Business Insider
A new era of mobile mining begins: XRP mining passive income app now available
XRP Mining, a leading innovator in blockchain financial solutions, is proud to announce the official launch of its next-generation mobile cloud mining app. The new platform aims to simplify and democratize cryptocurrency mining, enabling users worldwide to earn daily passive income directly from their smartphones—no mining hardware, technical skills, or upfront investment required. Amidst a world swept by the wave of digital transformation, one cryptocurrency innovation stands out: XRP Mining—a groundbreaking mobile-first cloud mining platform that allows anyone to turn their smartphone into a portable cryptocurrency miner. With no hardware required, a sleek user interface, and deep blockchain integration, this platform is revolutionizing how people use cryptocurrency. Mining no longer requires bulky machines or complex code. Now, the world's most convenient cryptocurrency mining tool is right in your pocket. A Game Changer in Mobile Crypto Mining The XRP Mining platform is entirely cloud-based and powered by clean, renewable energy, ensuring sustainable mining operations. The system automatically mines the most profitable cryptocurrencies in real time, allowing users to profit without any active involvement. Key features include: 100% automated cloud mining —Users simply activate the mining contract; the system takes care of the rest. Multiple Cryptocurrency Earnings —Payouts are available in BTC, ETH, XRP, DOGE, SOL, LTC, BCH, USDT, USDC, and more. Eco-Friendly Infrastructure —All mining operations are powered by renewable energy to reduce environmental impact. Bank-Grade Security —Integration with McAfee® and Cloudflare® ensures protection against cyberthreats and attacks. Global Coverage —Services cover over 150 countries with 24/7 multilingual support. How it works: Start earning in three easy steps. Sign Up: Visit to create an account. New users receive a $15 signup bonus and start receiving $0.60 daily without a deposit. Choose a Plan: Choose from a variety of USD-based mining contracts. Funds are automatically converted to cryptocurrency based on real-time exchange rates. Start Mining: Start mining immediately upon activation. Profits are deposited daily and can be withdrawn once your balance reaches $100, or reinvested to boost future returns. Stable USD-pegged contracts with cryptocurrency flexibility Although denominated in USD for stability, users can deposit funds using top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Tether (USDT – ERC20 and TRC20), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), and Solana (SOL). All deposits are instantly converted to USD, protecting investments from cryptocurrency price fluctuations. Withdrawals are converted to the user's chosen cryptocurrency, minimizing the risk of market volatility. Designed for Everyone XRP Mining's mobile-first platform is tailored for a wide audience—from cryptocurrency newbies to experienced investors: Beginners seeking a low-risk, simple way to enter the crypto market. Professionals seeking a simple source of passive income. Students and young adults looking to grow their savings. Parents and stay-at-home moms exploring new ways to supplement their household income. Retirees seeking low-maintenance costs and high potential returns. About XRP Mining XRP Mining is a global platform dedicated to providing convenient, eco-friendly, and fully automated cloud mining solutions. XRP Mining aims to remove the common financial and technical barriers to cryptocurrency mining, enabling users worldwide to easily and sustainably participate in the digital economy. Your smartphone is your new mining rig—join the revolution The world of mining is no longer a noisy garage with a tangle of wires. Now, with just a smartphone, you can access powerful blockchain infrastructure and earn daily returns. Whether you're a cryptocurrency newbie, part-timer, or long-term investor, XRP mining offers a smarter way to grow your digital assets—at your own pace and on your terms.
Al Etihad
11 hours ago
- Business
- Al Etihad
Phoenix Group mined 689 Bitcoins in H1 2025
31 July 2025 14:44 A. SREENIVASA REDDY (ABU DHABI)Phoenix Group, the UAE-based global cryptocurrency mining and infrastructure firm listed on Abu Dhabi Securities Exchange (ADX), mined a total of 689 Bitcoins during the first half of 2025. Of these, 336 Bitcoins were mined in the second quarter alone, with 214 attributed to self-mining company posted Q2 revenue of $29 million, while self-mining revenue surged to $41.7 million in the first half—up 219% compared to the same period in 2023, when it stood at $13 million. Phoenix continues to mine profitably, reporting a gross margin of 31% on self-mining and achieving a 14% reduction in energy costs, according to its financial statement released also announced the formal launch of its digital asset treasury strategy. The company's corporate reserves, valued at over $150 million, consist mainly of 514 Bitcoins and more than 630,000 Solana coins.'Phoenix has always been more than just a mining company. We're a conviction-led digital infrastructure group,' said Munaf Ali, CEO and Co-Founder of Phoenix Group. 'Holding Bitcoin and other strategic digital assets isn't just about exposure. It's about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.'When asked to elaborate, a company spokesperson told Aletihad: 'Our digital asset treasury is a strategic corporate initiative where Phoenix Group holds a portfolio of cryptocurrencies as part of our long-term balance sheet management.'Clarifying the purpose of the holdings, the spokesperson added: 'We mine and hold our own assets in the treasury, it's not a custody or banking service for third parties. The holdings—514 BTC and over 630,000 SOL—are Phoenix Group's corporate reserves, accumulated through our self-mining operations and strategic acquisitions. We do not hold or manage assets on behalf of others, nor do we offer withdrawal services. It is not a client-facing product.'On the valuation, the spokesperson noted: 'The $150 million+ figure is not a fixed target but the formalised starting point, with potential for further development as part of our growth strategy.'Explaining operational metrics, the company clarified: 'Self-mining refers to using our own hardware and infrastructure to mine Bitcoin directly for Phoenix Group's account, retaining all rewards. Non-self-mining includes our hosting services, where we provide data centre space, power, and maintenance for third-party miners' equipment.'The company also reported a non-cash loss of $29 million, attributed primarily to revaluation of digital assets and a one-time depreciation adjustment under revised accounting is now shifting focus toward expanding its Artificial Intelligence (AI) and High-Performance Computing (HPC) verticals. A feasibility study is underway to convert part of its US infrastructure into a multi-use compute facility. Simultaneously, the company is evaluating multiple international locations to accelerate its AI and HPC growth. 'We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there,' said Ali.
