Kraken and xStocks partner Backed are moving to enable multichain access for their tokenized equities offering. The crypto exchange announced that users will soon be able to trade and invest in these stocks on the Binance Chain. Kraken To Launch Tokenized Equities On Binance Chain In a press release, the crypto exchange announced that, in
Despite lingering market uncertainty fueled by Donald Trump’s escalating trade war, the cryptocurrency market showed signs of recovery this week.
On-chain data reveals that crypto whales took advantage of the volatility to accumulate select altcoins, signaling growing confidence in specific digital assets.
Dogecoin (DOGE)
Leading meme coin Dogecoin (DOGE) has received significant attention from crypto whales this week. This is reflected by the spike in the number of coins purchased over the past seven days by DOGE whale addresses that hold between 100 million and 1 billion coins.
According to data from Santiment, these DOGE holders have accumulated 1.41 billion coins worth over $220 million during the review period. As of press time, their total holdings have surged to 25.68 billion DOGE, marking the highest level since December last year.
When an asset’s large holders increase their accumulation like this, it suggests increased confidence or anticipation of future price gains. If this continues, DOGE could break above the resistance at $0.17 in the near term and climb toward $0.23.
Worldcoin (WLD)
WLD is another altcoin that has caught whales’ attention this week. The Sam Altman-linked token currently trades at $0.74, shedding 1% of its value over the past week.
During that period, whales holding between 100,000 and 1,000,000 WLD have accumulated 2.63 million tokens valued above $1.94 million.
If whale accumulation persists, it could make WLD buck the broader market downtrend to record gains.
Ondo (ONDO)
Thereal-world asset-based (RWA) token ONDO is also on this week’s crypto whales’ list. According to Santiment, in the past seven days, whales holding between 1 million and 10 million ONDO have purchased 19.41 million, valued at approximately $17 million.
This cohort of ONDO investors currently holds 702.37 million coins.
Should this prompt a market-wide ONDO accumulation phase, it could signal the resurgence of interest in RWA-based assets and drive further price momentum in the coming weeks.
XRP price has shot up nearly 5% in the past 12 hours in response to the US-China trade deal. Apart from Ripple the altcoins and the broader crypto markets are taking off. Bitcoin (BTC) price has surpassed the $97,000 threshold with Ethereum and others up 2%.
Currently, XRP price stands at $2.16, hinting at a potential breakout rally if the bullish sentiments sustain. As the token goes up, let’s explore the bullish factors supporting its upside potential.
XRP Price Surge
XRP Price Nears Channel Breakout as U.S.-China Trade Deal Develops
With a near 2% rise, XRP is at $2.16. However, the bullish trend faces critical resistance from the overhead trend line and the 50 and 100 EMA lines. Furthermore, the MACD and signal lines have recently given a negative crossover.
With multiple technical setbacks, the short-term surge in bullish momentum must surpass the overhead obstacles to sustain a bullish ride. However, the overnight surge has concluded the four-day downfall streak in the XRP price trend. This increases the possibility of a price jump in XRP.
As per the trend-based Fibonacci level, the potential breakout of the 100-EMA line at $2.21 will likely propel the XRP price to the 23.60% level at $2.45. On the flip side, the 200 EMA line at $1.9978 is a strong support for the XRP price.
The sudden reversal and increased bullish sentiments in Ripple’s XRP come before the anticipation of a U.S.-China trade deal meeting in Switzerland.
A Way Ahead in the U.S.-China Trade Deal
In a recent interview, Scott Bessent, the 79th U.S. Treasury Secretary, revealed a key upcoming discussion between the U.S. and China in Switzerland over the coming weekend. Scott Bessent revealed his plan to visit Switzerland to discuss trade deals with the Swiss. Chinese delegates, presently on a visit to Europe, are willing to discuss a potential way ahead in trade deals. Bessent said,
“The world has been coming to the U.S., and China has been the missing piece. We will meet on Saturday and Sunday to discuss our shared interests.”
Bessent adds that the current tariffs and trade barriers are unsustainable, but we don’t want to decouple. The treasury secretary further added that tariffs and other barriers are coming down as the world starts to renegotiate. “We are bringing strategic industries back home, from steel to semiconductors to medicine, and Americans will get a better deal.”
With the news, the NASDAQ 100 and S&P 500 registered a near 1% jump despite a weaker opening. This reflects the sudden optimism spike in the US markets.
China’s MOFCOM Confirms The Meeting in Switzerland
In a news release, China’s Ministry of Commerce, MOFCOM, has confirmed the news that Vice Premier He Lifeng will visit Switzerland. The vice premier will be a Chinese representative for the China-U.S. Economic and Trade Affairs. During his visit to Switzerland, he will meet the U.S. Treasury Secretary Scott Bessent.
The news release also states, “China has carefully evaluated these messages, taking into full account global expectations, China’s own interests, and the appeals of American businesses and consumers. China has decided to engage with the U.S. side.”
The development in the US-China trade deal discussion has pumped up the US and crypto markets alike. Bitcoin is up by nearly 3%. Similarly, altcoins like Ethereum witnessed more than 1.50%, and it has fueled Ripple’s XRP token surge of 1.85%.
Conclusion
The XRP price surges as the global trade war witnesses the two rivals coming back to talking terms. This could result in a key pivot point for global markets and risk assets like crypto.
Hyperliquid recently surpassed the trade volume of perpetuals exchange dYdX, reaching $1.5 trillion. Despite being a much newer platform, Hyperliquid’s token buybacks and lack of cash incentives have provided long-term stability.
To be fair, Hyperliquid has also been involved in much larger controversies, famously delisting JELLYJELLY in response to a short squeeze earlier this year. Nonetheless, the platform has been rebuilding its reputation and generating high volume.
dYdX is a decentralized perpetuals exchange that has been active for five years, whereas Hyperliquid’s platform only launched in 2023.
Nonetheless, the younger protocol has overtaken it. After launching its native token in 2021, dYdX began employing it to reimburse users’ trading fees, boosting its volumes. It then built community hype around an informal “trading contest” with competitors.
Hyperliquid, on the other hand, did not rely on dYdX’s incentive strategy. After its own TGE last year, it managed to accumulate huge volumes through functionality, word-of-mouth, and product quality.
2024 was a peak year for crypto perpetuals trading, and the HYPE TGE took advantage of the moment. This has apparently proved to be a more durable approach.
Additionally, Hyperliquid directs the vast majority of its trading fees to token buybacks, which dYdX only instituted months later, and to a lesser degree.
This helped the firm repurchase 17% of the total circulating HYPE tokens, providing several key advantages. Over the last month, HYPE’s market cap has been steadily rising towards $10 billion:
Despite its strong rise, Hyperliquid has also seen several major controversies. For example, it denied claims of a Lazarus Group security breach despite clear on-chain evidence last year.
dYdX hasn’t suffered a public debacle like that in many months, but Hyperliquid did act quickly to rebuild its reputation. So far, this seems to have worked.
Earlier today, Hyperliquid also reached a new all-time high in open interest, surpassing $8 billion. If it can maintain this momentum, the exchange can build a commanding lead over DeFi’s perpetuals market.