Cathie Wood’s Ark Invest is rebalancing its crypto exposure, shedding shares in established platforms like Coinbase and Robinhood while betting big on emerging players such as Bitmine Immersion Technologies. $12M Coinbase Selloff Continues Ark’s Profit-Taking Trend On Thursday, Ark Invest sold 30,501 shares of Coinbase (COIN), amounting to roughly $12 million in proceeds based on market pricing. This move continues a recent trend where Cathie Wood’s firm has been trimming its position in the crypto exchange, capitalizing on its strong YTD performance. The selloff signals a broader shift in Ark’s portfolio from mainstream crypto infrastructure into more thematic, high-growth plays.…
Author: Blockto Team
NEAR Protocol’s token (NEAR) rebounded 9% intraday on July 24, showing strong signs of institutional accumulation amid high volatility and fresh market catalysts. A strategic partnership with Everclear, focused on cross-chain stablecoin infrastructure, helped boost investor confidence and set the stage for long-term growth. Institutional Buying Fuels Rebound After Sharp Morning Selloff NEAR saw a sharp decline from $2.82 to $2.59 in early morning trading, triggering a wave of high-volume trades — nearly 7.91 million tokens exchanged — establishing a new technical support level. But what followed was a textbook rebound, as the price surged to $2.81 by the session…
Elon Musk’s artificial intelligence firm, xAI, is making a bold move into the financial prediction space by partnering with Kalshi, a U.S.-regulated prediction market platform. This collaboration aims to harness the power of Grok, xAI’s advanced chatbot, to deliver real-time analytics for event-based trading. Grok to Enhance Event Forecasting on Kalshi Kalshi allows users to trade on outcomes of real-world events—such as Federal Reserve rate changes, election results, and economic indicators—through legally regulated contracts. With Grok’s integration, traders will gain access to AI-powered summaries and analyses, giving them a potential edge in forecasting and decision-making. Grok will analyze news, economic…
In a major legal development, Yuga Labs—the creator of the Bored Ape Yacht Club NFT collection—has had its $9 million court victory overturned, following a decision by the U.S. Court of Appeals for the Ninth Circuit. Court Orders New Trial in Bored Ape Trademark Case The case centers around Yuga Labs’ 2022 lawsuit against digital artist Ryder Ripps and Jeremy Cahen, creators of the RR/BAYC NFT collection. Yuga claimed the satirical NFTs were infringing on its intellectual property and misleading consumers. A district court initially ruled in Yuga’s favor, awarding over $8 million in damages. However, the appellate court has…
Cosmos (ATOM) bounced back sharply on Thursday, climbing 7% from a low of $4.47 to close near $4.77, signaling renewed bullish interest at a critical support level. The move followed intense early-session selling pressure, likely driven by broader geopolitical and crypto market tension. Sharp Dip Finds Strong Support at $4.47 After a volatile open, ATOM plunged to $4.47, its lowest level in weeks. However, that drop was met with heavy buy-side volume exceeding 2.28 million units, indicating that traders and market makers were keen to defend that support zone. The $4.47 level now acts as a critical technical support—buyers stepped…
Strategy (MSTR), the largest corporate holder of Bitcoin, has significantly expanded its STRC preferred stock raise to $2 billion, up from an initially planned $500 million, according to recent market disclosures. Michael Saylor’s Expansion Strategy Drives Demand The move comes as Executive Chairman Michael Saylor continues to leverage financial engineering to expand the company’s Bitcoin holdings. Originally announced on Monday, the offering was set to include 5 million shares priced at $100 each, targeting $500 million in total proceeds. However, investor demand and a broader push to secure capital led the firm to quadruple the raise to $2 billion by…
Solana-based meme coin BONK surged 6.5% over the past 24 hours, climbing from $0.0000335 to $0.0000357 as traders poured into high-beta assets following a major network upgrade proposal. BONK Sees 18% Intraday Swing, Led by Ecosystem Traction BONK’s latest move follows a volatile trading session that saw the token drop as low as $0.0000311, before reversing course and rebounding to end near $0.0000363. The 18% intraday swing, combined with institutional-grade trading volume exceeding 2.1 trillion tokens, underscores accelerating interest in this meme-driven asset. Support near $0.000032 was tested and held firmly, with accumulation evident during dips—signaling confidence from both retail…
Ethereum (ETH) surged over 4% to reach $3,755 on Thursday after treasury firm BitMine Immersion Technologies revealed massive ETH holdings just over two weeks after raising capital. The announcement underscores accelerating institutional demand and fresh momentum in Ether’s price trajectory. BitMine Buys 566,776 ETH in Just 16 Days In a significant disclosure, BitMine confirmed its ETH holdings now exceed $2 billion, totaling 566,776 ETH acquired at an average price of $3,643.75. This rapid accumulation follows a $250 million private placement completed just 16 days earlier. The company has made clear its goal: acquire and stake 5% of Ethereum’s total circulating…
SUI, the native token of the Sui blockchain, staged a sharp rebound early Thursday following a steep overnight sell-off. The move comes just as two spot ETF filings hint at growing institutional interest in the asset. SUI Bounces From $3.52 to $3.78 in Five Hours After dropping 8% overnight, SUI reversed course, surging from $3.52 to $3.78 within a five-hour window. The turnaround occurred after an intense bout of trading volume—35.4 million tokens changed hands at the low, more than 2x its 24-hour average, signaling aggressive dip-buying by traders or institutions. The swift bounce suggests strong market support at the…
Global asset manager Franklin Templeton is bringing its BENJI platform to VeChain, marking a major step in the evolution of tokenized finance for businesses. The initiative will enable enterprises on VeChain to access tokenized U.S. government money market funds for on-chain payments and cash management. What Is BENJI and Why It Matters The BENJI platform provides tokenized access to the Franklin Templeton OnChain U.S. Government Money Fund (FOBXX), which currently manages about $780 million in assets. Each BENJI token represents one share in the fund, pegged to $1, and is backed by government securities, cash, and collateralized repurchase agreements. This…