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Stablecoin Market Cap Hits $220 Billion

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3 weeks ago

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After weeks of sideways trading and sharp corrections across Bitcoin and the altcoin market, a notable trend is quietly unfolding beneath the surface of the crypto market. Price action has shown capital exiting major tokens, but the reassuring takeaway from flow trends is that much of this capital hasn’t fully left the ecosystem. Instead, it’s being parked in stablecoins, which is a development that may be more bullish than it seems on the surface.

Stablecoin Market Cap Growing, Surpasses $220 Billion

Crypto traders are obviously adopting a very cautious stance towards investing in cryptocurrencies due to the current uncertainty in the market. This cautious stance, although it has led to a slowdown in buying pressure, flow trends highlight a shift in strategy, not a total loss of bullish sentiment.

The lingering bullish sentiment is noted in the stablecoin market cap, which has continued growing higher despite the downturn. According to data from IntoTheBlock, the total stablecoin market recently crossed a milestone of $220 billion and is showing no signs of stopping. As noted by the on-chain analytics platform, this growing pool of liquidity could soon become the fuel for the next phase of upside movement if and when confidence returns.

Image From X: IntoTheBlock

One beneficiary of the growing stablecoin niche is Ripple’s recently launched stablecoin, RLUSD. This new stablecoin has been growing with pace since its launch in December 2024. Its connection with the payments technology company adds a new player to the stablecoin race, joining heavyweights like USDT and USDC in attracting inflows.

Total crypto market cap currently at $2.7 trillion. Chart: TradingView

At the time of writing, RLUSD has a circulating supply of $160 million and a growing number of Ethereum mainnet addresses holding it.

Image From X: IntoTheBlock

Stablecoin Market Cap Expansion: What It Means For Crypto’s Next Move

The significance of the growing stablecoin market cap trend extends far beyond risk-averse behavior from crypto traders. As noted by IntoTheBlock on social media platform X, “While these tokens are widely used to sidestep volatility, it’s hard to ignore how all that liquidity could become the spark for the next market upswing once sentiment flips bullish.” 

In many ways, this expansion is a buildup of liquidity that can be quickly deployed into cryptocurrencies. It means that investors are not abandoning crypto altogether. They are simply watching and waiting. Stablecoins are frequently used as an entry point back into risk-on assets, which means this capital is in a prime position to re-enter the market at a moment’s notice. 

All investors need right now is a bullish event, and these funds can be easily converted to Bitcoin and other cryptocurrencies on crypto exchanges. On the other hand, a demerit of the stablecoin market’s growth is that it will continue to delay inflows into Bitcoin and other cryptocurrencies.

Interestingly, data from CoinGecko puts the market cap of stablecoins currently at $236.7 billion. This figure takes into account not just fiat-backed stablecoins but also crypto-backed, commodity-backed, and algorithmic stablecoins.

Featured image from KuCoin, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Ripple Whale Moves $273M As Analyst Predicts XRP Price Crash To $1.90

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19 minutes ago

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April 16, 2025

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In the latest development within the Ripple community, a whale moved $273 million worth of XRP, contributing to increased activity. If XRP continues to face rejection at the $2.17 mark, its price could drop to $1.90 due to the whale activity and unfavorable technical indicators.

Whale Transfers 131 Million XRP In A Single Transaction

A Ripple whale has created a buzz in the ecosystem following a hefty transfer of XRP between wallets, leaving investors scanning the horizon. According to data from Whale Alerts, the Ripple whale moved 131,000,000 XRP between two wallets in a single transaction.

The market value of the moved XRP stands at a staggering $273 million, stoking speculation for an incoming dump. Per the announcement, the wallets involved in the transfers are unknown as investors scan the horizons for clues about the heightened whale activity.

“131,000,000 XRP (273,945,648 USD) transferred from unknown wallet to unknown wallet,” read the Whale Alert post on X.

There is increased chatter that the wallets may belong to an exchange but details remain under wraps. In this scenario, the transfers are a primer for a massive sale that will adversely affect the XRP price. Typically, whale activity piques the interest of retail traders, stoking panic that leads to sell-offs even without the whale selling their XRP holdings.

Conversely, the whale activity may be an over-the-counter (OTC) transaction without any immediate impact on XRP price. However, investors have their eyes peeled on a chain reaction from other Ripple whales following the latest XRP transfers. A cascading effect is forming after a Ripple whale transferred $63 million in a single transaction barely 12 hours ago.

XRP Price Faces Stern Test At Resistance Level

Amid the rising whale activity in the ecosystem, XRP price faces an uphill climb in the push for higher figures. XRP price has previously attempted to breach the $2.17 mark but a streak of rejections have soured traders sentiments.

Cryptocurrency analyst CasiTrades notes that while $2.17 continues to operate as a ceiling, the XRP price will fall to a new support level. XRP is trading at $2.06 amid speculation that the XRP price has bottomed despite the rejection at the $2.17 level.

According to CasiTrades, XRP price is headed toward $1.90 but a steeper decline to $1.55 remains a grim possibility. CasiTrades predicts that prices will not remain stagnant at the new support levels, noting that the level will be “quickly bought up.”

“But if this rejection continues to play out, support at $1.90 and $1.555 remains firmly in play.

Over the last week, XRP price has gained 15% but whale activity has seen it lose 4% over 24 hours. The XRP ETF buzz and a potential SWIFT integration with Ripple could send XRP price beyond $3.

✓ Share:

Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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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Could Tomorrow’s Canada Solana ETF Launch Push SOL Price to $200?

Published

13 hours ago

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April 15, 2025

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The Solana community and crypto market are watching closely as the world’s first spot Solana ETFs prepare to launch in Canada tomorrow, April 16, 2025. With this key launch, the speculation has also grown about whether this milestone could push SOL’s price toward the $200 mark.

The Ontario Securities Commission (OSC) has approved multiple ETF issuers, including Purpose, Evolve, CI, and 3iQ, to list their products. This could potentially open Solana to a new class of institutional investors.

Comparing Past ETF Launches To Solana ETF

Bloomberg ETF analyst Eric Balchunas offers a measured perspective on expectations for the Solana ETFs. He noted that “Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers, including Purpose, Evolve, CI, and 3iQ. ETFs will include staking via TD.”

However, Balchunas cautions against expecting too dramatic a market reaction based on previous altcoin ETF launches. He points out that “the 2 Solana ETFs in US (which track futures so not a perfect ginnea pig) haven’t done much. Very little in aum. The 2x XRP already has more aum than both the Solana ETFs and it came out after.”

This is supported by Volatility Shares Solana ETF (SOLZ) statistics, which launched in March as the first financial derivative-based ETF tracking Solana. SOLZ has accumulated only approximately $5 million in net assets as of April 14. This reflects relatively weak investor interest in Solana ETF products to date.

The reception by Canadian investors may vary from U.S. futures-based products. However, experience has shown that investors must have realistic expectations towards short-term pricing effects.

Analyst SOL Price Forecasts Provide Divergent Outlook

Market analysts are offering varying estimates of SOL price prospects following the listing of the ETF. Some are predicting gains, while others are more cautious in their estimates, according to current market trends.

CoinGape has also published a detailed Solana prediction for April 2025. Analyst MANDO CT expressed optimism about the development, tweeting: “Bullish for the SOL community! ‘The world’s first spot Solana ETF is expected to launch on April 16th!’.

This positive sentiment was shared as SOL touched its “HIGHEST $SOL/ ETH WEEKLY CLOSE IN HISTORY” on April 14.

Analyst Momin suggests conditional upside. He noted: “Solana usually front-runs the market. If we see $SOL close above $120 on weekly, expecting it to visit $180 in [the] coming weeks!” However, Momin also cautions that “macro is uncertain due to random decisions.”

One of the more bullish perspectives comes from analyst BitBull, who draws parallels to Ethereum’s 2021 performance: “SOL 2025 = $ETH 2021. Just like Ethereum’s run in 2021, Solana is setting up for a massive move in 2025.” BitBull identifies an “Accumulation Zone: $120–$130” with a target of $300+, based on pattern congruity in chart behavior between SOL and ETH’s historical performance.

With all these points kept in mind, it is extremely unlikely that the Canada Solana ETF launch can propel the SOL price towards $200 in the short term. Assuming that the overall market is bullish and with continued fund inflows through the ETFs, Solana can witness a price surge in the short term.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

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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Whispers Of Insider Selling As Mantra DAO Relocates Nearly $27 Million In OM To Binance

Published

15 hours ago

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April 15, 2025

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The cryptocurrency project Mantra is coming under increasing suspicion after its OM token shed 90% of its value within a single day. The value dropped from $6.27 to only $0.72, erasing more than $5 billion in market value. What transpired next only served to worsen the situation.

Based on blockchain data, Mantra DAO—the project’s behind-the-scenes organization—sent $26.95 million of OM tokens to a Binance wallet on Monday, April 14. This is just after the price’s massive dump, which triggered red flags among observers.

Detractors cite a disturbing fact: the Mantra team owns around 90% of all OM tokens. The high concentration of ownership and timing of the exchange transfers have fueled accusations of potential insider selling.

Mantra CEO Denies Token Dumping Accusations

Mantra chief executive JP Mullin has rebutted such allegations. He said the team and investors didn’t dump their holdings during the crash.

Instead, Mullin attributed the price decline to “forced liquidations” instigated by cryptocurrency exchanges. Such liquidations occur when exchanges sell traders’ holdings automatically after they are unable to cover margin calls.

But his account is not to everyone’s liking. Various independent analysts have monitored suspicious token transfers that point to a different narrative.

OM price has sustained a steep drop in the last week. Source: CoinMarketCap

On-Chain Detective Work Reveals Suspicious Transfers

Crypto analyst Max Brown found that Mantra transferred nearly 4 million OM tokens to cryptocurrency exchange OKX shortly before prices began to decline.

The problem for investigators is that once tokens are moved to centralized exchanges like Binance or OKX, they become much more challenging to trace. This is essentially a blind spot where the tokens can be disposed of while leaving behind no clear trail on public blockchains.

While analysts cannot prove it for a fact that insiders sold off tokens, the gradient of movements into exchanges just ahead of the price tumble certainly gives room for serious doubt.

Exchanges Provide Varying Account Of The Crash

Major cryptocurrency exchanges launched investigations as to what triggered the spectacular fall of the OM token.

Binance, the largest crypto exchange in terms of trading volume, corroborates Mullin’s account. In early findings, they indicate cross-exchange liquidations most likely caused the crash, which would support the CEO’s explanation.

MANTRA is now trading at $0.61. Chart: TradingView

OKX paints a different picture. The exchange cited “major changes” in OM’s tokenomics as a possible cause. They also noted that multiple blockchain addresses had sent large quantities of tokens to exchanges during the time of the crash.

The contradicting accounts by various players in the market have left investors uncertain about what actually transpired. With $5 billion of market value lost and no certainty, confidence in the project has been severely undermined.

Featured image from Blueberry Markets, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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