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Circle Internet Group stock has now surpassed its own stablecoin, USDC, in market cap. Just 12 trading days after its initial public offering, Circle’s stock value has surged over 8X, with shares rising from an IPO price of $31 to over $254. This sharp rise has pushed Circle’s market capitalization to approximately $62 billion, edging
The post Circle Stock Flips USDC Stablecoin In Market Cap appeared first on CoinGape.
While investors are bracing themselves for a Pi Network Price pump, one expert has predicted a start date for the rally. Cryptocurrency analyst Dr Altcoin says Pi Coin price will spike during the upcoming Consensus Summit, with Pi Network founder billed to deliver a keynote address.
According to an X post, cryptocurrency analyst Dr Altcoin is forecasting the start of a Pi Coin rally in mid-May. Dr Altcoin notes that investors can expect the start date of the Pi Network price during the Consensus Summit scheduled for May.
Dr Altcoin’s predictions differ from previous projections that tip the start of a Pi Coin rally toward late August. Investors previously hinged their hope for a price rally after the end of the Pi unlocking event, set to release 212 million Pi Coins.
However, Dr Altcoin is predicting the rally to begin much earlier in May, triggered by the momentum around the Consensus event. Dr Altcoin has previously revealed why Consensus 2025 will be pivotal for the Pi Network, given the sheer volume and calibre of attendees.
“I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14-16, 2025) rather than at the end of August when Pi unlocking significantly reduces,” said Dr Altcoin.
Dr Altcoin’s prediction for the launch of the Pi Network price rally in May faces a raft of challenges. Right out of the bat, the Pi Core Team (PCT) is racing against the clock to approve KYB applications before the start of Consensus 2025.
Furthermore, Dr Altcoin says the launch of decentralized applications (DApps) on the network before Consensus 2025 will support a price rally. While the PCT achieves the milestones before Consensus 2025, other external factors are angling to adversely affect Pi Network prices.
Dr Altcoin has raised alarm over shady activity on Banxa that may trigger artificial volatility for Pi Coin Price. Keen on playing its part to stabilize prices, the PCT has begun purchasing Pi Coins on centralized exchanges, mopping up over 48 million coins.
Currently, Pi Network trades at the $0.6 mark, holding the price level for over a week as investors scan the charts for signals of a seismic rally.
Furthermore, Dr Altcoin is hinging his resolve for a rally on seven Pi Network pros, including accessibility and sustainability perks. The cryptocurrency expert name-checks its security features, low gas fees, and regulatory compliance.
The post Expert Predicts Start Date For Pi Network Price Pump, Here’s When appeared first on CoinGape.
XRP has been on a consistent downtrend in recent days, with its price falling sharply and approaching the $2 mark. This has resulted in extended losses for the cryptocurrency, with a notable rise in selling pressure.
Despite the bearish momentum, key investors are trying to offset the negative impact.
Whale activity has been a major factor contributing to the recent decline in XRP’s price. Addresses holding between 100 million and 1 billion XRP have sold over 1.12 billion XRP, worth $2.34 billion, in the past seven days. This has brought their total holdings down to 8.98 billion XRP.
The selling activity from these whale addresses reflects a cautious outlook for XRP. While whale selling often indicates uncertainty in the market, it’s important to note that their behavior can also have significant short-term price movements. The recent heavy selling could signal that market participants are unsure about the short-term price action, and further bearish trends could follow if this continues.
On the broader market level, XRP’s macro momentum shows signs of divergence from the whale selling. The Liveliness metric, which tracks the behavior of long-term holders (LTHs), is currently declining.
A falling Liveliness typically signals that LTHs are accumulating more of the asset at lower prices rather than selling. This drop to a three-month low suggests that long-term holders are sticking to their conviction and accumulating XRP, even as whale selling intensifies.
The steady accumulation of LTHs might help cushion the bearish effects created by the whales. This behavior can counteract the selling pressure, potentially offering stability to XRP’s price and supporting a recovery if market conditions improve.
XRP’s price has fallen by 14.5% this week, bringing it to $2.09, which is dangerously close to losing the critical $2.02 support level. The ongoing bearish momentum has created mixed signals in the market, which are likely to keep the price stuck in a narrow range for the time being.
If XRP can bounce back from the $2.02 support, it could recover some of the recent losses. However, the altcoin may remain consolidated below the $2.27 resistance level unless more positive news or market conditions arise to push it higher.
If XRP breaks through the $2.27 barrier or falls below $2.02, it could invalidate the current consolidation outlook. A successful breach of $2.27 could pave the way for a price recovery, with $2.56 being the next significant target.
The post XRP Whales Sell $2.3 Billion Supply; Price Nearly Fell Below $2 appeared first on BeInCrypto.
The post Circle’s $1.1B IPO Shines as Ripple CEO Dismisses Acquisition Claims appeared first on Coinpedia Fintech News
Circle just went public today, kicking off with strong demand. It surprised the market by pricing its IPO at $31 per share, well above the expected $27 to $28 range. It sold about 34 million shares, valuing the company at $1.1 billion. Bloomberg reports that the IPO raised a total of $6.9 billion.
The stablecoin issuer was set to go live today on the NYSE under the ticker “CRCL.” Circle has also given its underwriters a 30-day option to buy an extra 5.1 million shares. This IPO is the second big crypto listing under the Trump administration, after eToro’s debut last month.
This move gives Circle more access to funding and stronger regulatory oversight that will help improve investor confidence amidst recent volatility in crypto markets.
This comes shortly after the rumors of a potential acquisition by Ripple were put to rest. Ripple CEO Brad Garlinghouse shared during a Las Vegas Bitcoin conference that Ripple had never pursued an acquisition of Circle, while some reports had suggested that Circle had denied a $5 billion offer from Ripple. Coinbase was also on the list to acquire Circle.
Nevertheless, Circle’s IPO shows rising institutional interest in stablecoins and the broader crypto market. U.S. lawmakers are also pushing for clearer rules for stablecoins, which marks a major shift in how these digital assets will be viewed in the country. Lately, Wall Street giants have also shown interest in exploring their own stablecoin plans.
Circle is one of the first big crypto companies. The USDC, issued by Circle, is the second most popular stablecoin, holding 27% of the market, while Tether’s USDT leads at 67%. Circle’s IPO is also one of the biggest since Coinbase’s 2021 Debut. This is a big step for crypto moving into traditional finance.
Circle’s USDC coin is likely to be favored by institutions due to the company’s strict regulatory focus. It was the first to get a New York State BitLicense in 2015, which gives it an advantage as banks and fintech firms look to enter the stablecoin space.
The post Circle’s $1.1B IPO Shines as Ripple CEO Dismisses Acquisition Claims appeared first on Coinpedia Fintech News
Circle just went public today, kicking off with strong demand. It surprised the market by pricing its IPO at $31 per share, well above the expected $27 to $28 range. It sold about 34 million shares, valuing the company at $1.1 billion. Bloomberg reports that the IPO raised a total of $6.9 billion. Second Big …