Circle ostensibly turned down the offer since it was too low based on its market value and prospects.
Ripple is keen to expand its recently launched RLUSD to compete with Tether USDT among others.
Ripple Labs proposed to takeover Circle Internet Group Inc. for $4 billion to $5 billion. According to people familiar with the matter, Circle, the second largest stablecoin issuer, turned down the offer and termed it as too low.
Meanwhile, Ripple has not yet made another move but remains interested in acquiring Circle. Moreover, Circle’s USDC has penetrated global web3 markets to hit a market cap of about $61.6 billion and a 24 hour average trading volume of about $6.9 billion.
“We do not comment on market rumors. As we are currently in a quiet period with the U.S. SEC, we cannot comment further on our corporate financial plans. Our long-term goals remain the same,” Circle’s spokesperson told Bloomberg.
Top Reasons Why Ripple Eyes Circle
Circle’s market complexities
Earlier in April, Circle filed for an initial public offering (IPO) with the U.S. SEC, with the aim of listing on NYSE under ticker CRCL. While Circle’s revenue grew by 16 percent to $1.7 billion YoY, the company’s net income and EBITDA fell sharply.
The company has attributed the decline in net income to increased partner costs, service discontinuation, in addition to operational expenses. For instance, the company has reported an increase in distribution and transaction costs from higher fees on its partners led by Coinbase Global.
Future growth prospects for RLUSD
Ripple Labs recently launched RLUSD to help streamline its cross-border payments system, which includes backing up XRP adoption. However, the company has faced intense competition from existing stablecoins led by Tether USDT.
Additionally, RLUSD has experienced significant competition from similar products, such as USD1(USD1)by Donald Trump-backed World Liberty Financial that has already surpassed $2 billion in market cap.
Canary Capital has filed an amended version of its Solana ETF with the US Securities and Exchange Commission (SEC) to improve the fund’s offerings. As part of the amendment, the asset manager has updated the ETF’s name to reflect its new partnership with Marinade Finance for SOL staking. Canary Capital Files Amended Solana ETF Prospectus A recent SEC filing shows that the asset manager has filed an amended version of the registration statement for its SOL ETF. As part of the changes, Canary Capital has changed the fund’s name to ‘Canary Marinade Solana ETF.’ As Bloomberg analyst James Seyffart noted, the amendment reflects the partnership with Marinade Finance for SOL staking in the ETF wrapper. The Solana DeFi protocol had also teased about the partnership yesterday, while hinting at a big announcement today. The Gensler-led administration had pushed back against staking being included in any ETFs, which is why… Read More at Coingape.com
Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle East. It happened because Trump’s announcement of a ceasefire between Israel and Iran reawakened investors’ morale.
Even institutional interest in Bitcoin remains strong, with BTC ETFs recording $350.43 million in net inflows on Monday. In addition, exchange reserves this week fell from $2.491 million to $2.485 million, pointing to declining selling pressure in the short term, per cryptoquant.
Moreover, bullish interest seems to be high as the “taker buy to sell ratio” on the Bybit exchange has displayed significant spikes, and several expert bullish posts are flooded on social platforms where targets are aimed as high as $130K to $135K in Q3 2025. Keep reading to know more.
Bybit Exchange Reveals Investors Eyeing Opportunities in Bitcoin Dip
A recent analysis from Cryptoquant reveals that when market interest wanes in BTC, all data appears stagnant, making things easier to evaluate. In this scenario, a sudden footprint of smart money is easily tracked.
The activity starts revealing sudden spikes in the data of Bitcoin’s taker buy-to-sell ratio chart on the Bybit exchange, which were nearly stagnant before.
This highlights a significant pattern when overall market attention is drawn to a negative factor, and involvement becomes low due to rising fear. The whale accumulation has been seen to accelerate.
In many cases, smart money-loading bags have preceded with the upward trends.
The same pattern is repeating now, and spikes in the data amid the recent war uncertainty are evident. It highlights that the odds of a price rise are much higher.
Analyst Suggest Short Squeeze Incoming In Bitcoin Price
Recently, Daan Crypto highlighted that from May to June, the Bitcoin price was in a severe range between the month’s swing low support at $100K and near ATH around $109K.
The recent breach of swing low support during the heightened conflict, followed by a recovery from range lows, has built a big liquidity grab, which has hit many traders’ “stop-loss” orders. Now, experts believe the de-escalation could pump more gains ahead in the short term.
Aligning with the bullish sentiment, another expert has revealed that the Binance BTC/USDT liquidation heatmap on coin glass suggests that the current price is exchanging hands in the middle of two major liquidity leverage clusters.
Still, the topside liquidity cluster is piling up strongly per the 24-hour chart. He suggests that a short-term short-squeeze is coming, and the bull run is not over yet.
Moreover, in the long term, another expert, Ted Pillows, highlights that the recent war-led dip has changed nothing for BTC’s long-term trajectory. Instead, this dip has ensured that room for more upside is clear; he believes that $130K to $135K BTC price in Q3 is possible.
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Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle East. It happened because Trump’s announcement of a ceasefire between Israel and Iran reawakened investors’ morale. Even institutional interest in Bitcoin remains strong, with BTC ETFs recording $350.43 million in net inflows on Monday. In addition, exchange reserves this week …
The Pi Network community is eagerly awaiting Pi Day, which will mark the sixth anniversary of the project. However, even as anticipation builds within the community over the impact that this day will have on Pi coin price, several concerns remain that could impact token holders. This article explores the four things that Pi Network token holders need to worry about on this pivotal date.
Things Pi Network Token Holders Should Worry About on Pi Day
Pi Day is an event that is celebrated on March 14 every year and will coincide with the project’s sixth anniversary. During this event, Pi Network token holders are awaiting a flurry of announcements that could spike the level of market interest in the altcoin.
Pi Coin has made waves since its launch, with its market cap surging to more than $11 billion. Top exchanges like OKX and Bitget have listed Pi Coin. There has also been notable Pi Coin adoption from a top US real estate company.
Pi Day is set to unlock another stage for the project. This day is also the deadline for mainnet migration. There is also anticipation that a major exchange might list Pi Network token on this day.
Nevertheless, despite the buzz surrounding this day, Pi Coin holders should remain concerned about the following:
KYC and Mainnet Deadline Migration
The Pi Network migration deadline is on Pi Day 2025. This migration will transfer Pi token holders and users from the testnet to the official blockchain that launched last month. Users can only migrate their tokens if they complete Know Your Customer (KYC) verification.
Pi Network has set the deadline for migration on March 14, 2025. It has also stated that there will be no extensions to this deadline. Those who fail to complete KYC and the migration will end up losing most of their Pi tokens.
Pi Network Migration Deadline
The possibility of losing Pi Coins if one misses the migration deadline should concern token holders. Moreover, given the gains that the Pi Network token could see during this event, losing these coins could lead to major losses.
Concerns About Decentralization
Pi Network token holders should also be concerned about the level of decentralization on the project. Pi Coin has a maximum supply of 100 billion tokens. Meanwhile, data from PiScan shows that 62 billion tokens are held by six wallets belonging to the core team.
Pi Coin Core Team Wallets
Besides the supply distribution, the Pi Network has 2 active validators globally and only 17 active nodes. This is a significantly small number compared to decentralized networks like Bitcoin and Ethereum, which have thousands of active nodes and validators that guarantee decentralization.
Pi Network Nodes
Such concerns could weigh on the Pi Network price after Pi Day. It may also hinder broader adoption, and impact investor confidence.
Delayed Listing on Top Exchanges
The Pi Network community is optimistic about Binance listing Pi Coin. Some anticipate that the listing could happen on Pi Day after the mainnet migration and users meet KYC requirements.
Nevertheless, Binance has yet to confirm the listing. Coinbase has also not revealed plans to list this token despite Pi Coin gaining swift adoption in the US. If Pi Network token is not listed on another major exchange on Pi Day, it could slow the momentum and reduce investor confidence.
Pi Network Price Shows Slow Momentum
Pi Network price today is $1.68 with a marginal drop of 1.7% in 24 hours. The RSI is at 55, which is close to neutral levels, indicating that buying activity has slowed. The CMF indicator has also tipped south, which is a sign of Pi Coin price weakness as buying pressure fades.
The lack of significant buying pressure around the Pi Network token despite the hype around Pi Day is concerning. If this momentum continues, the price could slip to the 23.6% Fibonacci level of $1.36. Conversely, if buying pressure surges and reverses the trend, Pi Coin could touch the 123.6% Fib level of $1.93.
PI/USDT: 2-hour Chart
Bottom Line
The Pi Network token is poised for price volatility on Pi Day. While a flurry of announcements could spark gains, Pi Coin holders should still take note of factors like the mainnet migration. Concerns about decentralization and failure of being listed on other top exchanges may affect the price performance.
