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Axie Infinity is toxic for crypto gaming

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Axie Infinity, like most cryptocurrency games, has provided players with an awful experience.

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XRP price set for 48% jump as spot ETF reality draws closer

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Key takeaways:

XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential.

SEC’s review of WisdomTree’s XRP ETF may spark investor interest as approval odds jump to 84% on Polymarket. 

XRP price is forming a falling wedge pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout. Could this technical setup, coupled with the SEC’s review of a spot XRP ETF application by WisdomTree, signal the start of a rally to $3.40 and higher?

XRP falling wedge pattern targets $3.40

From a technical perspective, XRP (XRP) price could gain significant momentum if it breaks out of this falling wedge pattern.

In technical analysis, a falling wedge is a bullish reversal chart pattern that comprises two converging trend lines that connect lower highs and lower lows. This convergence indicates a weakening downward momentum. 

XRP price is currently retesting the resistance provided by the upper trendline of the wedge at $2.42. A break above this level will likely trigger a quick rise in price, with the bulls seeing the technical target of the wedge at $3.40, a 48% increase from current prices.

XRP/USD daily chart. Source: Cointelegraph/TradingView

The relative strength index (RSI) has climbed to 47 from 31 on April 8, indicating that bullish momentum is building up.

However, to sustain the ongoing recovery, XRP’s price has to first hold the support at $2.20 and then overcome the resistance between $2.60 and $2.80.

Several analysts are optimistic about a rebound higher, with pseudonymous trader Cryptowzrd saying that a validation of a falling wedge could see XRP break out toward $2.90.

“$XRP closed indecisively and is still maintaining a falling wedge formation,” the trader wrote in a May 28 post on X, adding: 

“A breakout of this wedge will push markets toward the $2.80 resistance. Above that resistance, we will eventually get to a new all-time high.”XRP/USD daily chart. Source: Cryptowzrd

As Cointelegraph reported, XRP price must first break the key $2.48 resistance level to clear the path toward higher highs.

Spot XRP ETFs coming?

The US Securities and Exchange Commission (SEC) has officially started reviewing the spot exchange-traded fund (ETF) application by the WisdomTree XRP Trust, which may provide investors with exposure to XRP. 

🔥 NEW: The SEC is officially reviewing WisdomTree’s proposed spot $XRP ETF, and is now accepting public comments. pic.twitter.com/3B4UwJ6n4s

— Cointelegraph (@Cointelegraph) May 28, 2025

The notice published by the SEC on May 27 initiates a 21-day public comment period and a 240-day review timeline, reflecting a structured evaluation of investor protection and market manipulation risks. 

The product would track the price of XRP through the CME CF Ripple-Dollar Reference Rate, giving investors indirect exposure without needing to hold the asset directly.

The betting odds for an XRP ETF approval by Dec. 31 now stand at 84% on Polymarket. Over the past month, the probability of approval has swung by 21% in favor of the YES side, from around 63% on April 22.

XRP ETF approval odds on Polymarket. Source: Polymarket

Bloomberg senior ETF analysts predicted an 85% chance of spot XRP ETF approval after the change in leadership at the SEC.

Approval of these funds could unlock institutional capital, amplifying demand for XRP and potentially driving prices toward $3-$8. Some analysts predict XRP price to go as high as $50 if major players like BlackRock step in.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Amina Bank hits $40M revenue in 2024 as crypto AUM doubles

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Swiss crypto bank Amina Bank, formerly Seba Bank, reported record financial results for 2024, with revenue climbing 69% year-over-year to $40.4 million.

The bank also saw its assets under management (AUM) rise by 136% to $4.2 billion, driven by institutional demand and strategic expansion, according to a May 28 news release.

The Zurich-based bank credited the growth to its multi-jurisdictional footprint, 24/7 trading capabilities and a lending book that has maintained zero defaults over five years.

“I’m incredibly proud of our team’s tenacity and focus, which led to quarterly profitability in Q4 2024, a pivotal milestone that confirms the value of our approach,” CEO Franz Bergmueller said.

Related: Bitcoin Suisse eyes UAE expansion with regulatory nod in Abu Dhabi

Amina adds $801 million in assets in 2024

During the year, Amina added $801 million in net new assets. Revenue from derivatives increased by 40%, reflecting increased interest from clients seeking crypto-based risk-management tools.

The bank also said it invested in building a proprietary digital platform last year, aiming to serve business-to-consumer (B2C), business-to-business (B2B) and business-to-business-to-consumer (B2B2C) clients.

The system, expected to launch later this year, will feature API-based infrastructure to handle increasing demand across markets.

Mike Foy, chief financial officer at Amina Bank, said the bank’s liquidity coverage ratio increased to 228% in 2024, up from 219% in 2023.

“In addition, our CET1 capital ratio, which compares a bank’s capital against its risk-weighted assets, is more than double the regulatory requirement at 34%, despite an increase in risk-weighted assets as a result of our expansion,” Foy added.

Related: Crypto projects prepare to battle for privacy in Switzerland

Amina’s international revenue grows

Amina also noted that its international revenue continues to increase, with income from its Abu Dhabi operations rising 150% year-over-year and Hong Kong posting 570% growth. The bank expects to onboard 30 B2B2C partners by the end of 2025, up from almost 20.

Founded in 2019, Amina holds licenses from the Swiss Financial Market Supervisory Authority (FINMA), Abu Dhabi’s Financial Services Regulatory Authority (FSRA) and Hong Kong’s Securities and Futures Commission (SFC).

Amina rebranded from SEBA Bank on Dec. 1, 2023, to highlight its shift toward integrating traditional finance with digital and crypto services.

In November 2023, Switzerland’s St. Galler Kantonalbank, one of the largest banks in the country, partnered with then-branded Seba to offer its clients digital asset custody and brokerage services.

Magazine: Can Off the Grid survive Steam’s crypto ban? Rage over Maplestory cheaters: Web3 Gamer

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TON Foundation hires former Visa executive to lead payments strategy

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The Open Network Foundation (TON Foundation) appointed former Visa executive Nikola Plecas as its new vice president of payments.

Plecas will be responsible for shaping and executing TON’s payment infrastructure strategy, the company said in a May 28 blog post.

He is tasked with expanding the network’s capabilities, managing financial partnerships and ensuring compliance across jurisdictions as the foundation scales services for over 1 billion Telegram users.

“Joining TON Foundation represents an incredible opportunity to shape the future of payments on a truly global scale,” Plecas said.

Related: How to use tsUSDe on TON for yield-generating dollar savings

Plecas to lead TON’s new payment strategy

Plecas will lead the push to build a payments architecture that is both globally interoperable and robust enough to handle increasing demand from developers, enterprises and end-users, per the announcement.

Plecas brings a track record from his time at Visa, where he played a central role in crypto-related initiatives, including product development and global commercialization.

He helped streamline on-ramp performance across multiple markets and developed Visa’s digital currency engagement model for European clients. He also contributed to numerous fintech and crypto issuance projects and frequently spoke on Visa’s behalf at major industry events.

Source: TON

TON Foundation CEO Max Crown noted that payments are a core pillar of TON’s roadmap. “With deep industry expertise and a clear vision for scaling payment infrastructure, Nikola brings the experience and leadership we need to accelerate TON’s global growth.”

Cointelegraph reached out to TON for comment but had not received a response by publication.

Related: TON’s Broxus launches blockchain app scalability platform TON Factory

Ethena offers USDe to Telegram users

On May 1, decentralized stablecoin platform Ethena partnered with TON to make its stablecoins available to Telegram’s user base of over 1 billion people.

The partnership will see the deployment of Ethena’s USDe (USDE) and Ethena Staked USDe (sUSDe) within the TON blockchain. The sUSDe variant will be integrated under the name tsUSDe, enabling Telegram users to access US dollar-denominated savings directly within Telegram.

Notably, the TON Foundation has also been closely collaborating with Tether, connecting TON to Tether’s USDt ecosystem with LayerZero in February 2024.

As part of its ambitious scaling plans, TON expects to connect its ecosystem to at least 100 chains, including Ether (ETH), Tron (TRX) and Solana (SOL).

Magazine: Can Off the Grid survive Steam’s crypto ban? Rage over Maplestory cheaters: Web3 Gamer

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