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XRP, DOGE Rise, Ether Burn Falls to Record Low as Traders Eye This Week’s U.S. Data

Published

2 месяца ago

24 марта, 2025

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Bitcoin (BTC) topped $87,000 early Monday with solana (SOL), xrp (XRP) and dogecoin (DOGE) adding more than 4% to start the week in the green as traders eyed the release of further U.S. economic data for cues on further positioning.

Bitcoin mostly hovered around $85,000 over the weekend, restrained by concern over inflation and the broader U.S. economy. SOL led gains among major cryptocurrencies with a 5% bump in the past 24 hours, while tron’s TRX led losses, dropping 4% to further pare gains after a memecoin-led price bump last week.

A risk-off mood persists, but is weakened amid reports suggesting that the U.S. tariffs due April 2 might be more measured than initially expected.

“Investors are remaining cautious on the upcoming price moment due to the uncertainty,” Nick Ruck, director at LVRG Research, said in a Telegram message. “This week’s U.S. economic reports on consumer confidence, personal spending, and PCE may show whether American consumers can cope with these economic changes or are preparing for less spending and more budgeting.”

Consumer confidence measures how optimistic Americans are about the economy — high confidence means more spending, low means more saving. Personal spending tracks how much people buy, which is a big driver of economic growth. PCE, or Personal Consumption Expenditures, is a key inflation gauge, showing price changes in goods and services.

These reports can affect crypto markets. Strong consumer confidence and spending suggest a healthy economy, which might boost crypto prices as people invest more in riskier assets. High PCE (rising inflation) could worry investors, pushing them toward crypto as a hedge against a weaker dollar. But if confidence drops and spending slows, it might signal a downturn, making investors cautious and dragging crypto prices down.

Some traders, however, say the U.S. economy is stronger than thought, making current price levels a good area to buy for those bullish in the medium to long term.

“U.S. ‘hard’ economic data remains robust and in contrast with the soft sentiment, suggesting an over-extrapolation of the current weakness versus underlying fundamentals,” Augustine Fan, head of insights at SignalPlus, told CoinDesk in an email. “Macro observers have generally been more precarious in their assessments than the actual reality, and we believe that the underlying economy remains stronger han feared.

“Crypto markets had a similar quiet week, with prices largely rangebound and rebounding off recent lows as a mirror move of the equity action. Technically speaking, prices remain on a negative downward trend but are stabilizing around key support levels, with ETH settling at the highs of the 2022 range and the next big support level at around the 1500 area,” Fan said.

Ether’s outlook comes as the blockchain saw one of its lowest 24-hour revenues in recent months, sending daily burns to a record low.

A burn permanently removes a token from circulation by sending it to an address not controlled by anyone. Ether burns started in August 2021, when Ethereum’s EIP-1559 upgrade occurred, stemming from the network burning all base fees charged to users per transaction.

Transactional activity has declined over the past few months amid a rising preference for cheaper networks such as Solana and Tron and a general taper-off of speculative trading activity since late January.

Just 50 ETH was burned on Sunday, data shows, a record low and a nearly 99% drop from the record 71,000 ETH on May 1, 2022. Daily burns have been gradually declining since early 2023, ranging between 500 ETH to more than 3,000 ETH.

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Solana (SOL) Surges 6% on Bullish Reversal and DeFi Activity Toward $180

Published

1 час ago

20 мая, 2025

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The cryptocurrency market continues to respond to broader economic factors as Solana demonstrates resilience amid global trade uncertainties. SOL’s price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance levels with institutional-grade volume suggesting accumulation despite a brief 1.35% correction in recent hours. Meanwhile, analysts point to the $166.82 level as a crucial short-term pivot, with potential for significant upward movement if SOL can maintain momentum above $177 resistance.

Technical Analysis Highlights

SOL climbed from a low of $159.69 to a high of $173.03, representing a significant range of $13.34 (8.35%).
Price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance at $166.87.
Above-average volume was observed around the $167-$170 zone, indicating strong buyer interest.
Notable support established at $160.34, where buyers stepped in with conviction during early hours.
Final four hours showed accelerated momentum with volume spikes exceeding the 24-hour average, suggesting institutional accumulation.
A brief downward correction occurred in the last 60 minutes, falling from $172.19 to $169.87 (1.35% decline).
The $170.00 psychological level briefly acted as support before failing.
Final 30 minutes showed decreasing volatility and volume, potentially indicating exhaustion of selling pressure.

External References

«Solana Price Holds $166 Support After Rejection From $183 – What Comes Next?«, NewsBTC, published May 19, 2025.
«Here’s What Can Trigger a Solana (SOL) Bull Run«, CryptoPotato, published May 19, 2025.
«Solana Price Prediction: Rising Network Adoption May Push SOL Price Beyond $200 By May«, CoinPedia, published May 19, 2025.

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Circle Has Explored Potential $5B Sale to Coinbase or Ripple Instead of IPO: Report

Published

1 час ago

20 мая, 2025

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Stablecoin issuer Circle, which filed for an initial public offering (IPO) last month, has explored the alternative of a sale to crypto exchange Coinbase (COIN) or payments company Ripple, according to a Monday report by Fortune.

The New York-based issuer of USDC, the second-largest stablecoin, took part in informal talks over a potential sale from which it was seeking at least $5 billion, Fortune reported, citing people who asked not to be identified.

This figure would be line with the company’s valuation by investment banks JPMorgan and Citi, which Circle had hired to help with the IPO.

Coinbase holds a minority share in Circle, and the two companies share revenue from USDC’s reserve interest income. Ripple recently debuted its own stablecoin, RLUSD. An offer by Ripple to buy Circle was rejected, Bloomberg reported last month.

Circle said in an emailed statement that it «is not for sale,» and remains committed to going public, Fortune said. The company aborted a previous attempt at going public via a special purpose acquisition company (SPAC) merger in 2021.

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RWA Platform TokenFi Is Tokenizing the Floki Minibot

Published

1 час ago

20 мая, 2025

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TokenFi, a sister project to Floki that focuses on real-world asset (RWA) tokenization, is set to tokenize the Floki Minibot M1 — an AI-powered robot built by Rice Robotics — marking what the team says is the first tokenization of a consumer AI robot.

The move coincides with the launch of TokenFi’s RWA tokenization module on May 23. A presale for the Minibot M1’s token will go live the same day, initially for users on a whitelist compiled by Rice AI and select Floki ecosystem participants.

The presale ties into broader plans to launch Rice AI’s RICE token and conduct an airdrop for Floki (FLOKI) and TokenFi (TOKEN) holders, according to the announcement. Further details are expected post-sale, the team told CoinDesk.

The Floki Minibot is a branded version of Rice Robotics’ compact delivery and companion robot, which operates autonomously and is built on the RICE AI system. Rice Robotics counts Nvidia, Softbank, Mitsui Fudosan and 7-Eleven Japan among its partners and clients.

«This is the first time in history that an AI robot will be tokenized,” TokenFi said in a statement to CoinDesk. “It’s a phenomenal moment for TokenFi, the RWA industry, and the AI robotics space.”

TokenFi aims to be a leading RWA infrastructure provider, allowing companies to tokenize real-world items — from assets to equity and now robotics — using blockchain rails.

Floki developers said earlier this year that they believe Rice Robotics is “well-positioned for growth” in the AI robotics sector, citing industry projections that peg the market at over $100 billion by 2030.

TOKEN has gained 19% in the past 24 hours, data from CoinGecko show, alongside a jump in major tokens. The CoinDesk 20 Index, a measure of the broader crypto market, has added 3%.