Altcoin
HK Asia Holdings Buys One Bitcoin and Its Stocks Surge by Over 90%. Will BTC Bull Explode?
HK Asia Holdings announced the purchase of one Bitcoin on February 13, calling this investment “symbolic in scale.” Following the public announcement, the company’s stocks surged by 93% between February 13 and 17.
This increase catapulted the stock to 5.50 HKD (Hong Kong Dollars) which is the equivalent of $0.71. While the price has fluctuated since, it still maintains around 4.50 HKD at the time of writing this article.
HK Asia Holding has joined a growing trend of public and governmental Bitcoin investors that have put their trust in the crypto market. This is potentially bullish for projects like BTC Bull which aims to capitalize on Bitcoin’s bull run.
Countries and Firms Adopt Bitcoin at a Large Scale
El Salvador was the first country to adopt Bitcoin as a legal tender on 21st of June, 2024, followed by the Central African Republic in 2022 (CAR eventually overturned the decision in 2023).
Numerous countries have also included BTC among their treasury assets.
As of January, 2025, governments around the globe hold up to 2.5% of Bitcoin’s total supply (471,000 BTC). The exact number of countries with Bitcoin investments is difficult to approximate, but some notable examples include:
- The US: 200K BTC worth $21.28B, making the US the largest and most influential government in the crypto space.
- China: 194K BTC worth $19.92B, acquired from mining and seizing the assets of PlusToken following the dismantle of its Ponzi Scheme.
- UK: 61K BTC worth $6.26B coming through seizures from fraud and money laundering operations.
- Ukraine: 46k BTC worth $4.85B from public donations during its ongoing war.
- Finland: 1.9K BTK worth $207M with many of the assets coming from narcotics operations.
A growing number of public institutions and firms have also added Bitcoin to their portfolio over the years.
The American KULR Technology Group, INC. launched a Bitcoin treasury in December, 2024, with a purchase of 217.18 BTC ($21M). The company doubled down on January 6, 2025, increasing its BTC reserves to $42M.
Rumble is another high-profile player that announced its first Bitcoin purchase just before Trump’s official inauguration on January 20.
However, not all Bitcoin investments have led to stock increases for investors. Lead Benefit, a subsidiary of Hong-Kong-based Ming Shing Holdings, has announced a 500 BTC purchase ($47M) in January, 2025. Despite this, the company’s stocks have declined by almost 40% since.
Strategy (former MicroStrategy) also saw immense success in this sphere, after it formed a reserve of 478K BTC, purchased at an average price of $65K, which took the company’s market cap to $85B. Other companies have tried to replicate this success, but lacked the proficiency required to work with BTC-based derivatives.
US States Push Bills to Diversify State Treasury with Bitcoin and Gold
The 2025 Inflation Protection Act would allow the addition of crypto and precious metals to the state treasury. Utah has also taken important steps in this direction through its bill HB230, with Dennis Porter announcing that the bill has moved onto the Utah Senate.
Arizona’s Strategic Bitcoin Reserve Act also went into the Senate for approval, mirrored by Kentucky, whose bill aims to move 10% of state funds into cryptos.
Numerous other US states consider diversifying their digital asset pool, including Ohio, New Hampshire, Pennsylvania, Texas, and Massachusetts.
This growing trend shows that public and governmental institutions now understand Bitcoin’s value and try to capitalize on it. Some upcoming crypto projects have adopted a similar strategy.
BTC Bull Token Supports Bitcoin’s Road to a $5.2T Market Valuation
BTC Bull Token ($BTCBULL) is an early crypto project whose foundation rests on Bitcoin’s bull trend. The platform offers new investment opportunities by rewarding holders with Bitcoin airdrops, making this one of the best altcoins available. This means that the more successful BTC becomes, the likelier it is that BTC Bull will follow suit.
Holders will receive BTC airdrops when Bitcoin’s price reaches its $150K and $200K milestones, followed by a massive $BTCBULL airdrop at the $250K mark. This is only an option for hodlers using Best Wallet.
$BTCBULL currently has one of the best presales after accumulating over $2.1M over the course of several days.
BTC Bull Token Enjoys Massive Community Approval
HK Asia Holding’s BTC investment is just the latest entry in a long line of companies adopting and diversifying their crypto portfolios. Japan’s Metaplanet also currently holds 2K BTC, valued at $194M, which caused the company’s stock to climb over 3.900% during 2024.
The new crypto project is currently seeing considerable community approval, which is evident from how well the presale is going. The total staking pool has amassed over 540M tokens with an APY of 194%.
Part of the project’s appeal also comes from its long-term token burn system. For every 25K that Bitcoin adds to its price, BTC Bull burns a percentage of its total supply. This creates upwards price pressure, linking $BTCBULL’s price evaluation to that of Bitcoin.
This does not constitute financial advice. Always DYOR (Do Your Own Research) before investing to minimize risks, and remember to never invest more than you can afford to lose.
The Chainlink price is poised for liftoff, with a bullish rebound on the horizon. As LINK has soared past its key support level, analysts and traders remain bullish about the altcoin’s potential rally new heights.
Analysts like Ali Martinez and CRYPTOWZRD have identified critical levels for LINK, invoking the community’s attention. Let’s unveil Chainlink’s potential movements through the analyses of popular analysts.
Is Chainlink Price Ready for a Rebound?
In a detailed analysis, analyst Ali Martinez spotted key support and resistance levels for Chainlink. According to Ali’s analysis, Chainlink’s support level is established at $12.28, while $14.58 acts as a significant resistance hurdle.
With the Chainlink price breaking past its support line, which now acts as a foundation, the stage is set for a potential bullish reversal, signaling an upward trend. And, if LINK breaks past the $14.58 point, which has been a significant resistance point, further upside momentum comes into view, with potential new highs on the horizon.
Chainlink’s Next Target: Is $26 Within Reach?
According to market expert CRYPTOWZRD, Chainlink daily technical outlook is uncertain, with an indecisive close. However, the analyst highlighted that LINK is currently testing the significant $12.50 level. Given LINK’s oversold condition, its price movement is likely to follow Bitcoin’s trend.
Interestingly, as pointed out by CRYPTOWZRD, LINKBTC’s daily falling wedge formation suggests potential for an impulsive upside breakout. LINK itself is forming a daily falling wedge above its lower high trend line, indicating a possible rally towards the $16 resistance target and beyond.
Significantly, the chart presented by the expert indicates that LINK could hit $26 if it passes the resistance point. However, as per CoinGape’s Chainlink Price Prediction, LINK will reach a maximum of $15.24 in 2025.
Meanwhile, LINK’s intraday chart showed a lack of clear direction, with price movements confined to a narrow range. A breakout above $13.20 could present a trade opportunity, while a decline below $11.80 would signal a test of the main support level.
LINK Market Sentiment Analysis
In an “In/Out of the Money Around Price” analysis, Ali Martinez shared insights into the market sentiment for LINK. The analyst detailed the number of traders holding Chainlink at different price points.
At press time, Chainlink is trading at $12.81, up1.46%. Despite a 0.86% surge over the past week, LINK experienced a massive decline of 30.99% over the last month.
Notably, more addresses are holding LINK at a loss than at a profit. According to the chart, 53.06% of the holdings are “out of the money,” which means that they represent 78.24 million LINK bought at a price above the current $12.68.
At the same time, 44.63% of analyzed holdings, representing 65.81 million LINK, are ‘in the money,’ having been bought by traders at a price below $12.68. This data highlights potential support and resistance levels, with significant holdings at $12.47 and $14.19.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Lorenzo Protocol (BANK) price has defied the broader market’s recent uncertain trend by rallying 150% this Saturday. The institutional-grade asset management platform has stolen the spotlight primarily as a top CEX, Binance, unveiled a new listing for its native token. As a result, traders and investors are extensively eyeing this crypto, speculating whether the pump could sustain amid enhanced market exposure.
Lorenzo Protocol Price Bullish As Binance Futures Adds BANKUSDT Contract
At the time of reporting, BANK price traded at $0.05237, up by a staggering 150% in just a day. The cryptocurrency’s price surged from a bottom of $0.01839 intraday, in sync with Binance’s announcement.
According to an official press release by the crypto exchange on April 18, the platform’s futures trading division is adding the BANK USD-Margined perpetual contract to its stockpile of offerings. The platform’s colossal user base remains poised to enjoy up to 50x leverage while trading the asset. The timeline for this launch was set at 18:30 UTC, the same day.
Further, the top crypto exchange set the capped funding rate at +2.00%/-2.00%. Also, the same perpetual contract will be available for ‘Futures Copy’ trading, offering users enhanced opportunities to make returns.
For context, usual market sentiments about the coin’s future price action have turned highly bullish with the new offering. Traders and investors are expecting a substantial influx of funds into the token as the new listing paves the way for more investor interaction with the asset.
Now, crypto market watchers are thoroughly monitoring the token for further gains, highly optimistic amid an ongoing rally of 150% following the listing announcement. Lorenzo Protocol is an institutional-grade asset management platform that issues yield-bearing tokens backed by diverse underlying strategies.
Besides, it’s worth mentioning that Binance revealed another crypto listing this week, CoinGape reported. The CEX has revealed plans to open trading for Balance (EPT) shortly, garnering further attention among traders and investors.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana (SOL) price has been under pressure recently, leading to concerns about a potential downtrend against Bitcoin (BTC). On the SOL/BTC price chart are signs that the cryptocurrency could be forming a “death cross,” a pattern that suggests a further decline in price.
This follows a period of weak performance for Solana relative to Bitcoin, sparking discussions on whether the altcoin can recover or continue to underperform.
Will Solana Form a Death Cross Against Bitcoin?
Over the past few months, Solana price has experienced a sharp decline when compared to Bitcoin. As of mid-April 2025, Solana is priced at 0.00158 BTC, down by 23% from earlier in the month. This comes after a significant 54% drop since January, showing a steady loss in value relative to Bitcoin.
The recent drop in Solana’s price has raised concerns among traders and analysts. Moving averages, which track price trends over time, have been narrowing, which is often a precursor to a potential death cross formation.
Specifically, the 23-day moving average is approaching the 200-day moving average in the weekly chart, a key level for technical analysts. If it crosses below the 200-day average, it would officially signal a death cross. This could indicate a further decline in Solana’s price against Bitcoin.
Solana’s Recent Performance and Market Trend
Nonetheless, Solana has had some strength, which can be attributed to the recent launch of Solana ETFs in Canada.
At the same time, institutional investors’ attention contributed to the altcoin’s success in surpassing the performance of numerous other cryptocurrencies, including Bitcoin. Solana delivered a 10.5% return within a week, while Bitcoin delivered a 1.8% return in the same time frame.
Nonetheless, the recent excitement about Solana appears to have subsided with the lessened market movements. Analysts like Ali Charts are now analysing whether the recent strength was just a blip in the charts or the first sign of an actual trend reversal to $65.
SOL/BTC Technical Patterns and Support Levels
Based on the current technical perspective, Solana’s price trend against Bitcoin has established the “Falling wedge” chart. This pattern is normally noticed during the consolidation phase, and the break above the upper trend line is usually interpreted as a signal for a bullish move.
The declining moving averages indicate that Solana may continue to decline against Bitcoin and possibly test lower supports despite the SOL/ETH ratio recording its highest weekly close
At present, the price is almost at the apex of the wedge pattern, meaning that it can break soon. If the price surmounts the resistance level at around 0.0018BTC, it will possibly lead to a bullish run and might even regain the value of 0.001895BTC for Sol. However, if the price cannot hold its support at 0.0014 BTC, then it may decrease even lower.
Solana’s performance against Bitcoin will be very significant over the next few weeks. The potential death cross and the support and resistance levels on the chart pinpoint that Solana might experience a difficult time moving forward. If the trend persists, the altcoin could potentially drop as low as 0.001 BTC—a price point that, when measured in dollar terms, is below $100.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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