Animoca Brands co-founder and executive chairman Yat Siu expects continued growth through 2025 due to a more crypto-friendly regime in the US.
Animoca Brands reported $314 million in bookings for 2024, marking a 12% year-over-year increase.
Bookings is a term commonly used in the gaming sector to represent the sum of revenue and deferred revenue. It includes all payments received and potential sales based on contracts not yet fulfilled.
According to Animoca Brands, its Digital Asset Advisory (DAA) business accounted for $165 million in bookings in 2024, a 116% increase over the previous year. The company’s subsidiaries and incubated projects generated $110 million in bookings, while its investment activities contributed $39 million.
As leading coin Bitcoin weathers one of its most bearish weeks since the start of the year, on-chain data suggests that miners have contributed significantly to the growing sell-side pressure.
On-chain data reveals that miners on the Bitcoin network have ramped up their coin-selling activity, a trend that could exacerbate the downward pressure on the coin’s price.
Bitcoin Bears Take Control as Miner Reserve Dips
According to CryptoQuant’s data, the BTC miner reserve has steadily decreased this week. As of this writing, it stands at 1.80 million BTC, down 1% from the previous week.
The BTC’s miner reserve tracks the number of coins held in miners’ wallets. It represents the coin reserves miners have yet to sell.
When the metric climbs, miners are holding onto more of their mined coins, often signaling confidence in future price increases. Conversely, when the reserve declines like this, miners are moving coins out of their wallets, usually to sell, confirming growing bearish sentiment against BTC.
The coin’s negative miner netflow further confirms this trend. As of April 10, this was -590.40. BTC’s miner netflow tracks the difference between the amount of coins sent to exchanges versus what is withdrawn.
When its value is negative like this, more coins are being moved from miner wallets to exchanges, typically a precursor to selling.
With added downward pressure from this segment of BTC holders, the coin’s price could see deeper corrections in the short term if buying interest fails to counterbalance the ongoing liquidation.
Bitcoin’s Bearish Trend Could See Price Fall to $74,000
On the daily chart, BTC remains significantly below its Super Trend indicator, which forms dynamic resistance above its price at $90,911.
This indicator tracks the direction and strength of an asset’s price trend. It is displayed as a line on the price chart, changing color to signify the trend: green for an uptrend and red for a downtrend.
When an asset’s price trades below its Super Trend indicator, selling pressure dominates the market. This bearish trend could further prompt BTC holders to sell, worsening its price dip. If this happens, the coin’s price could fall below the key support at $80,776 to trade at $74,389.
XRP futures trading on CME Group has surged to a combined $25.6 million in notional volume within its first two days of launch. It marks a strong debut for the altcoin’s entry into regulated derivatives markets. Meanwhile, XRP continues to trade below $2.50, dropping 7% in the past week.
According to official CME data and corroborating reports, 120 standard and 206 micro contracts were traded on May 19, totaling approximately 6.5 million XRP.
On May 20, the exchange logged 59 standard and 485 micro contracts, adding another 4.1 million XRP to the tally.
So, using XRP’s current market price of $2.39, the total trading volume across both days equals approximately $25.6 million.
XRP Futures Notional Volume on CME. Source: CME Group
This volume positions XRP’s debut ahead of other altcoin launches on CME. Solana (SOL) futures, which debuted in March 2025, recorded $12.3 million in first-day notional volume.
Futures Mirror XRP Spot Price, Hint at Stable Outlook
CME’s XRP futures are cash-settled and based on the CME CF XRP-Dollar Reference Rate. This is updated daily at 11 am Eastern Time.
This structure means the futures are pegged closely to the spot market. With XRP currently trading at $2.39, the futures contracts are not reflecting a premium or discount. This suggests traders expect price stability in the short term.
So far, there is no indication of strong bullish or bearish sentiment among futures participants. This could reflect broader market indecision or simply the fact that participants are using the contracts for hedging rather than speculation.
Earlier reports from VanEck’s Matthew Sigel suggested that Circle’s planned IPO had a $4 to $6 billion equity valuation. So, it looks like Ripple attempted to match that valuation.
The planned IPO and current circumstances suggest that Circle may be open to acquisition offers in the future. After all, analysts have previously raised concerns about Circle’s financials.
Circle’s revenues grew 16% but EBITDA and Net Income fell sharply.
Why? Four main reasons –>
Increased Partner Costs: A significant rise in distribution and transaction costs driven by higher fees paid to partners like Coinbase, due to increased reserve income and strategic… https://t.co/CHEv1PFdOk
— matthew sigel, recovering CFA (@matthew_sigel) April 1, 2025
Ripple’s executives, for their part, recently asserted that they have no plans to go public. However, the company has shown increasing interest in acquisitions.
Under Trump’s pro-crypto shift, Ripple is seeing a major opportunity to achieve dominance in the US market. As the SEC lawsuit nears an end, the firm is seemingly eyeing an aggressive expansion strategy.
It would be a powerful business opportunity if the firm could take over Circle’s stablecoin expertise and market share. For now, it is unclear if any further negotiations will take place, or if any other firms will make larger offers.
