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Strategy, previously MicroStrategy, made another Bitcoin purchase between July 23 and 30, extending the company’s weekly BTC purchase streak, which began in April, to a record 12 weeks. Meanwhile, the MSTR stock is up from its weekly close of $383 last week and is looking to reclaim the $400 level. Strategy Acquires 4,980 BTC for
The post Breaking: Strategy (MSTR) Makes 12th Consecutive Weekly Purchase With $531M Bitcoin Buy appeared first on CoinGape.
The American State of Missouri is set to implement a crypto tax rule that will positively impact Bitcoin (BTC), Ethereum (ETH), XRP, and other top-risk assets. This unique move will also impact stocks as the State seeks to become one of the most friendly places for crypto firms to do business. Notably, it comes when many states consider holding Bitcoin as a strategic reserve asset.
As reported by Fortune, it is worth noting that the State’s lawmakers have passed the Bill to enshrine this exemption. It has now been sent to Governor Mike Kehoe for final approval. This Bitcoin tax Bill secured only Republican support despite 10 Democrats voting “Present” at plenary this past Wednesday.
If signed into law, an estimated $430 million will be cut from State revenue as the law takes effect this year. The primary concern for Democrats is the shortfall in State funding, which will affect the budget. On the positive side, investors will benefit from the crypto tax allowance as they can hold their assets for much longer.
Many States in America are exploring ways to gain the upper hand in adopting digital currencies. Earlier this week, New Hampshire adopted BTC as a reserve asset after Governor Ayotte signed Bill HB 302 into law.
Under this provision, 5% of the State’s treasury funds can be invested in Bitcoin. Notably, any asset with a market capitalization above $500 billion may also benefit.
The digital currency ecosystem is gaining significant traction, fueling the favorable consideration of Bitcoin and crypto tax laws. While states are championing new Bills to drive Bitcoin and crypto adoption, the focus is on regulation in DC.
Despite announcing a strategic crypto reserve, much has not been said in this regard. What is visible to the industry is the pivot by national regulatory agencies toward the nascent asset class. Although the Internal Revenue Service (IRS) has not given new guidance on Bitcoin and crypto tax, the OCC and Federal Reserve have withdrawn guidance restricting banks from engaging in digital currency activities.
This makes the Missouri Bitcoin tax move a strategic one. While the exemption might benefit investors in the short term, it may also attract new crypto companies to the state. This will ultimately position the State to benefit in other key areas in the long term.
With this pioneering move, other States may follow Missouri in the quest to become a Bitcoin tax haven.
The post This US State Just Became A Crypto Tax Haven: Details appeared first on CoinGape.
The post Pi Coin Price Crashes 45% After Hype Fades: Is More Downside Coming? appeared first on Coinpedia Fintech News
Pi Coin plunged 45% after a brief rally fueled by Consensus 2025 announcements, with indicators and on-chain data signalling weakening momentum and a bearish outlook unless new catalysts emerge.
Key Highlights:
Pi Network (PI) is currently trading at $0.6984, down over 45% from its recent high of $1.57 with market cap now at $5.1B. From May 8 to May 13, Pi’s market cap jumped from $4.5B to $8.8B, almost doubling in just five days. But by May 16, it had fallen back to $5.1B, losing over $3.7B in value in just three days.
This sharp drop came after a short-lived price boost caused by major announcements — including the shutdown of Pi’s central node and the launch of a $100M Pi Network Ventures fund, both revealed during Consensus 2025 (May 13–14).
The fast rise and fall show that Pi’s price still reacts quickly to news rather than steady growth. While the rally briefly caught market attention, the rapid drop has heightened caution among traders.
The rally that started on May 8 lifted Pi above $1, peaking at $1.57 on May 13, driven by major news. But buying power faded just as fast.
Now, Pi trades under the 20, 50, 100, and 200-day EMAs — stacked between $0.79–$0.85 — which have flipped into resistance. The MACD has turned bearish, with the line almost crossing below the signal. The histogram, though not yet red, is narrowing, signalling fading buying pressure. The RSI, now at 42, points to neutral-to-bearish momentum.
The On-Balance Volume (OBV), which reflects buying vs. selling pressure, has dropped over 12% from its recent high, indicating a slowdown in net accumulation. Resistance sits at $0.79–$0.85.
Pi Coin is now testing key support levels at $0.68 and $0.59, which were important price zones before the rally on May 8. Instead of moving sideways in a range, the price has dropped from the peak and is now settling where buyers previously stepped in, waiting for a fresh trigger to move again.
A fall below $0.59 could open the way to $0.45. The Analysis of the PI network remains cautiously bearish unless Pi reclaims its EMAs with strong volume.
Volume surged to $2.2B on May 12, then dropped to $588M by May 16, down 73%, suggesting a fading hype cycle.
The CoinCarp chart, which displays wallet distribution by holder ranks, shows that the Top 100 wallet concentration dropped sharply from 98.76% on May 6 to 14.76% by May 13, before settling under 5% by May 16.
On May 13 specifically, the top 10 holders owned just 1.31%, and the top 50 held 2.7%. This dramatic shift likely reflects internal wallet reshuffling rather than actual retail distribution. The rapid redistribution during the rally aligns with bearish technical indicators, showing that major holders possibly took profits during the hype phase..
Pi Network’s 45% rally and the subsequent steep correction were driven by short-lived hype, notably from announcements made during Consensus 2025 (May 13–14).
This reflects how event-based sentiment still drives Pi’s price more than fundamental progress. The rapid market cap swing — a $3.7B decline in just three days — reveals how sensitive Pi remains to major headlines.
Going forward, potential catalysts such as a mainnet activation or ecosystem adoption could reignite interest. Until then, Pi Coin is likely to continue trading on speculative momentum, and traders should monitor support zones closely for further downside risk or relief bounce attempts.
The post Pi Coin Price Crashes 45% After Hype Fades: Is More Downside Coming? appeared first on Coinpedia Fintech News
Pi Coin plunged 45% after a brief rally fueled by Consensus 2025 announcements, with indicators and on-chain data signalling weakening momentum and a bearish outlook unless new catalysts emerge. Key Highlights: Pi Coin is down 45% from its recent high, currently trading at $0.6984. Market cap rose 95% in 5 days and then dropped $3.7B …
The post Ripple News: XRP Trading Volume Hits $16B But On-Chain Metrics Fall appeared first on Coinpedia Fintech News
XRP is witnessing a strong comeback in early 2025, with average daily spot trading volumes reaching $3.2 billion and spiking over $16 billion during peak periods in January and February. Despite this impressive momentum, concerns are rising over a sharp decline in on-chain activity — suggesting a growing disconnect between market hype and actual blockchain utility.
Over the past year, XRP has delivered a stunning 298.8% gain, including a 26.9% jump in the last 30 days alone. Notably, between January 10 and 17, XRP surged by 44.89%, hitting a local peak of $3.4 on January 16. As of today, XRP is up 2.5%, trading around $2.14.
The spike in trading volume reflects strong interest from both institutions and retail traders. Investment products tied to XRP have also attracted $214 million year-to-date — a clear sign of growing investor confidence.
A post from Ripple Pundit highlights that fiat and stablecoin trades involving XRP rose from 25% to 29%, indicating increased interest in regulated, fiat-linked trading pairs.
While market activity is strong, XRP’s on-chain metrics are deteriorating. XRP Ledger transactions have fallen 37.06%, while new wallet creation dropped over 40.28%. In addition, daily trading volume has declined by over 86% in the last six months, signaling possible short-term fatigue or profit-taking.
Investor optimism remains buoyed by positive regulatory developments. The U.S. SEC has dropped its appeal against Ripple, opening the door for a possible settlement. Meanwhile, speculation is building around a potential XRP Spot ETF approval in the near future — a move that could fuel another major rally in 2025.
The post Ripple News: XRP Trading Volume Hits $16B But On-Chain Metrics Fall appeared first on Coinpedia Fintech News
XRP is witnessing a strong comeback in early 2025, with average daily spot trading volumes reaching $3.2 billion and spiking over $16 billion during peak periods in January and February. Despite this impressive momentum, concerns are rising over a sharp decline in on-chain activity — suggesting a growing disconnect between market hype and actual blockchain …