Just one day after raising $750 million for its Bitcoin treasury, ProCap Financial, led by Anthony Pompliano, has bought 3,724 Bitcoin.
ProCap Financial, owned by Anthony Pompliano, has increased its balance sheet by 3,724 Bitcoin in an effort to catch up to the pioneers in the sector. Pompliano promised to grow ProCap’s stake in Bitcoin, which was acquired after a $750 billion capital round.
ProCap Financial adds 3,724 Bitcoin to its holdings
A news release claims that ProCap has acquired its first Bitcoin haul, increasing its holdings by an astounding 3,724. The transaction cost the company $386.6 million and was done at a time-weighted average price (TWAP) of $103,785 per Bitcoin, according to the statement.
The acquisition adds ProCap Financial to the expanding list of Bitcoin treasury companies and is a component of the company’s “bitcoin purchase program.” Among publicly traded firms with Bitcoin on its balance sheet, ProCap Financial will come in at number 15 with 3,724 BTC.
ProCap raised $750 million from investors to pursue a Bitcoin treasury strategy after launching through a $1 billion merger with Columbus Circle Capital Corp, which is listed on the Nasdaq. The $750 million raised by ProCap was referred to by Pompliano as the “largest initial fundraise” by a publicly traded bitcoin treasury firm.
The story is still evolving.
SharpLink expands Ethereum treasury with $30.7 million ETH purchase?
By investing in staking solutions and raising $27.7 million, SharpLink Gaming increases its Ethereum holdings to 188,478 ETH in order to broaden its crypto strategy.
The biggest publicly traded Ethereum holder, SharpLink Gaming (Nasdaq: SBET), has declared a planned increase in its Ethereum holdings. An extra 12,207 ETH, worth about $30.7 million, were purchased by the corporation at an average price of $2,513 per ETH.
SharpLink Ethereum treasury expansion
A press statement states that SharpLink Gaming purchased 12,207 ETH between June 16 and June 20 for a total of $30,674,829, with an average price of $2,513 per ETH. The acquisition is a component of the business’s continuous plan to increase its Ethereum treasury.
With most of its ETH holdings placed in staking and liquid staking platforms, SharpLink has been treating ETH as its main treasury reserve asset.
The business’s ongoing dedication to growing its ETH reserves is consistent with its overarching growth plan. All of SharpLink’s Ethereum holdings are now being used in staking solutions as of June 20. Since the company started its ETH-focused treasury strategy on June 2, these investments have already produced returns, including 120 ETH.
Strategic fundraising through at-the-market facility
SharpLink also issued over $27.7 million in net revenues from the sale of 2,547,180 shares of its common stock through its At-The-Market (ATM) facility. The corporation will spend the majority of these proceeds to buy further Ethereum assets.
This financing approach is a flexible funding mechanism that allows SharpLink to improve its digital asset strategy while taking advantage of market conditions that are beneficial for marketing.
“This purchase of ETH serves as a tangible reflection of our vision of long-term value creation of the stockholders of SharpLink,” stated Joseph Lubin, Chairman of the Board of SharpLink, in a statement. “We are bullish on the future of Ethereum.” Lubin, another Ethereum co-founder, also emphasized how digital assets could influence how technology and finance develop in the future.
Ethereum co-founder suggests tokenization of SharpLink stock
In addition to its robust Ethereum treasury, SharpLink Gaming is creating new cryptocurrency-related projects. Joseph Lubin, a co-founder of Ethereum, has made conjectures regarding the possibility of tokenizing SharpLink’s stock.
This suggestion was made in response to a community member’s suggestion that blockchain technology be used to reduce the firm stock ticker’s waste.
The Ethereum price’s current market performance is a sign of a possible rally despite all of this hoopla. The price of Ethereum was up 7% at $2,409 at the time of writing. This breakthrough is thought to be a component of a bullish fractal pattern that might push Ethereum beyond the 2,800 level.
Shiba Inu price ends 7-week downtrend after whales buy 1.6 trillion SHIB – 40% hike ahead?
The price of Shiba Inus has recovered from a seven-week decline. Is a 40% increase to the 200-day SMA likely as whales purchase 1.6 trillion SHIB tokens?
As the majority of cryptocurrency values rebounded as a result of reduced global tensions, Shiba Inu (SHIB) achieved an outstanding recovery from a seven-week decline. Today, June 24, the price of Shiba Inu is $0.0000117, up 8% in a single day, with $221 million in daily trading volumes. Whales have also purchased 1.6 trillion SHIB at the same time as these profits. Can the price of SHIB rise by 40% to the important resistance level as positive indicators line up?
Shiba Inu price ends 7-week downtrend
Over the past seven weeks, the price of Shiba Inus has been sharply declining as sellers have controlled the market. But now that it has broken out of this downward trend, the leading meme coin has seen its biggest positive shift since early May. The breakout indicates that short-term bullish interest is returning to support a recovery and that the bearish momentum is now waning.
Even though this breakthrough is important for SHIB, the price must break above the 50-day SMA level of $0.0000134 in order for the strength of the bulls to be confirmed. The trend favoring buyers and traders looking to profit from brief bullish rallies will be confirmed by a significant rise above here.
However, the price of Shiba Inu must first overcome resistance at the 200-day SMA level of $0.000016 in order to begin a long-term bullish trend. It will have risen by about 40% from the present price if it reaches this moving average.
Following the breakout from the falling parallel channel, the RSI indicator shows weak buying pressure if it stays in bearish territory. SHIB is still in danger of colliding with the downward parallel channel to continue its decline until this indicator rises over 50.
Key levels to watch
The PoC line, which is located at $0.0000151, is another important level to keep an eye on in the Shiba Inu price in addition to the SMA levels. This line typically denotes an apivotal position, where there is significant demand from both the purchase and sell sides. The market structure will change from bearish to bullish if the price of SHIB rises above this PoC.
Another important Fibonacci milestone for Shiba Inu’s surge is 61.8%. If this meme token can surpass this resistance, it will also signal a change in trend. This Fib level lies at $0.000014.
Traders should keep an eye on the $0.0000090 critical demand level on the downward side. Because it initiated a robust rally for the price of SHIB in early 2024, this zone acts as support. This meme token can start a downward trend if it is unable to maintain this support.
Whales scoop 1 trillion SHIB
Given that large holder netflows rose from 64 billion to 1.66 trillion in a single day, according to IntoTheBlock data, whales may be preparing for a bullish surge to the higher. This indicates that during the day, whale wallets added 1.5 trillion SHIB tokens to their holdings.
A positive thesis for a Shiba Inu price prediction is further supported by the continuous whale buildup. The reason for the recent purchase is that whales, in contrast to retail traders, use sophisticated trading strategies and may be expecting a significant upward surge.
In conclusion, the price of Shiba Inus has recorded one of its longest daily candles, ending a seven-week downward trend. Bulls may aim for a 40% rise to $0.000016 to validate a complete bullish reversal if current upward trend persists. Whales bought one trillion tokens yesterday, suggesting that they are accumulating the dip.
