Citadel Securities, one of the world’s largest market makers, is planning to jump into the crypto space. The firm plans to become a major liquidity provider for the industry, cooperating with leading exchanges.

However, rank-and-file traders have an intense dislike of Citadel due to its manipulation in the GameStop short squeeze. As this situation develops, it may turn into a major rift between different industry factions.

Will Citadel Transform Crypto?

Citadel Securities, an American market maker with over $62 billion in AUM (asset under management), has kept an eye on the crypto market for a few years. It consistently observed potential ETF gains since 2022, and became a major institutional investor in them after approval.

Now, according to a new Bloomberg report, the firm wants to become a liquidity provider for the crypto space.

Citadel is trying to take an overt role in crypto for a few reasons, not least of which is the favorable regulatory environment. Since Trump became President, a wave of pro-crypto energy has swept through the federal government, and the firm is planning to capitalize on it.

According to anonymous sources, Citadel wishes to begin by getting approval from major exchanges.

However, not everyone is happy about this. During the 2021 GameStop stock squeeze, Citadel CEO Ken Griffin played a major role in getting Robinhood to restrict user trading.

Robinhood, a major stock trading app, acquiesced to Griffin’s request because Citadel processes much of its revenue. An SEC probe against Robinhood was dropped today, contributing to the skepticism.

“Ken Griffin and Citadel Securities are set to become the liquidity provider for cryptocurrencies. Citadel is so openly corrupt rigging the stock market that even the mainstream media says the SEC is afraid of them. What could go wrong!” claimed the Wall Street Apes

After the biggest crypto exchanges approve Citadel, the firm wishes to set up market-making teams outside the US. Citadel began laying the groundwork for expansion in Southeast Asia in 2023 and tried to build up regional stock markets in the US last year.

In other words, Citadel could have a truly revolutionary impact on the crypto market if its dreams of becoming a liquidity provider come to pass. However, this revolution may be unfavorable to the community.

If rank-and-file traders detest Citadel, will that impact exchanges’ decisions? Could enough capital simply overwhelm community attitudes? These are all vital questions.

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Story (IP), Sonic (S), and Hyperliquid (HYPE) are the top three altcoins to watch for the last week of February. Story has surged by 140% in the past seven days, driven by its focus on programmable intellectual property, positioning it as a leading artificial intelligence coin.

Sonic, formerly known as Fantom, is up nearly 40% this week, showing strong bullish momentum after rebranding. Meanwhile, Hyperliquid remains highly profitable but faces bearish pressure due to market skepticism about its new HyperEVM, making all three altcoins crucial to watch as February ends.

Story (IP)

Story is one of the most trending new altcoins in the market. It is known for being a layer-1 chain that focuses on programmable intellectual property (IP).

The platform is built on the idea that IP is the world’s largest asset class and essential for the existence of artificial intelligence. After its launch, it has quickly become one of the biggest artificial intelligence altcoins in the market.

Story’s market cap is currently at $1 billion, and its price has surged by 140% in the last seven days, reflecting strong bullish momentum. If this trend continues, IP could test resistances at $5.32 and $5.88 soon, with the potential to rise above $6 or even $7.

However, the IP is currently in a correction phase, and if the downward movement persists, it could test the support at $3.65. A break below this level could push the price as low as $2.12, highlighting the importance of maintaining bullish momentum to sustain its recent gains.

Sonic (S)

Sonic, formerly known as Fantom, has been trending in the last few weeks, showing strong bullish momentum. Its price is up almost 40% in the last seven days and 55% in the last 30 days, pushing its market cap to $2.4 billion. S reached $0.97 on February 21, one of its highest levels ever.

If this positive momentum continues, Sonic could rise to test levels close to $1 again, potentially breaking above $1 for the first time ever and setting new all-time highs.

However, if the trend reverses, Sonic could test the support at $0.78, and if that level fails to hold, it could drop as low as $0.50.

Hyperliquid (HYPE)

Hyperliquid remains one of the most profitable businesses in crypto, generating $9.15 million in fees over the last seven days.

However, its token, HYPE, is not reflecting this success, having dropped more than 10% in the last 24 hours and 18% in the past seven days. The market appears skeptical about HyperEVM, which Hyperliquid announced last week, contributing to the recent downtrend.

If this bearish momentum continues, HYPE could test two crucial supports at $20.1 and $18.8. A break below these levels could push the price down to $12.1, marking its lowest point since mid-December 2024.

Conversely, if sentiment reverses, Hyperliquid could test the resistance at $24.3, and a break above that could lead to $27.4.

If HyperEVM gains traction and attention returns to the chain, HYPE could rise to $31.4, potentially breaking above $30 for the first time in two months.