Scan to download
BTC $60,573.50 -0.65%
ETH $1,552.30 -2.90%
BNB $574.04 +0.22%
XRP $1.08 -2.34%
SOL $61.59 -3.82%
TRX $0.3224 +0.18%
DOGE $0.0806 -1.18%
ADA $0.1567 -3.15%
BCH $213.75 -2.38%
LINK $7.31 -1.16%
HYPE $56.20 -5.12%
AAVE $59.88 -2.09%
SUI $0.7045 +0.06%
XLM $0.2039 +4.13%
ZEC $347.66 -1.43%
BTC $60,573.50 -0.65%
ETH $1,552.30 -2.90%
BNB $574.04 +0.22%
XRP $1.08 -2.34%
SOL $61.59 -3.82%
TRX $0.3224 +0.18%
DOGE $0.0806 -1.18%
ADA $0.1567 -3.15%
BCH $213.75 -2.38%
LINK $7.31 -1.16%
HYPE $56.20 -5.12%
AAVE $59.88 -2.09%
SUI $0.7045 +0.06%
XLM $0.2039 +4.13%
ZEC $347.66 -1.43%

form

Grayscale: Bitcoin may enter a recovery period in the coming months, but forming a sustainable bottom still requires new buying support

Grayscale's research director Zach Pandl stated that after Strategy disclosed the sale of 32 BTC on June 1, it triggered a new round of volatility in the BTC market. He pointed out that the scale of the sale itself is not important, as Strategy still holds approximately 840,000 BTC on its balance sheet, valued at about $5.5 billion. However, as one of the largest digital asset treasury managers in the world, its strategic shift puts pressure on market sentiment.Pandl believes that more importantly, the recent volatility affects the price of Strategy's variable rate preferred stock tool STRC. STRC is designed to maintain a price of about $100 per share, with a current dividend yield of 11.5%. If the stock price falls below $100, it means investors are demanding a higher return. Strategy can increase dividends, but this will increase future cash flow obligations and may lead to more BTC sales, further suppressing BTC prices. Strategy's leveraged business model is under pressure, increasing volatility across the entire BTC market.At the current levels of STRC and MSTR stock prices, Grayscale believes that Strategy's ability to continue accumulating more BTC is limited. However, Grayscale believes that in the long term, reducing the BTC on the leveraged digital asset treasury balance sheet and allowing more BTC to be distributed across diversified corporate balance sheets will benefit the health of the Bitcoin ecosystem. But before a sustainable bottom for BTC prices is formed, other buyers need to enter the market. Grayscale expects BTC prices to recover in the coming months, but in the short term, BTC's performance may lag behind other segments of the crypto market that directly benefit from regulatory clarity.

Enterprise-level AI payment platform Ramp completes $750 million financing at a valuation of $44 billion, led by ICONIQ and others

According to PR Newswire, the enterprise-level AI payment and financial management platform Ramp announced the completion of a new round of financing totaling $750 million, with a post-money valuation of $44 billion.This round of financing was led by ICONIQ, GIC, and the Ontario Teachers' Pension Plan, with participation from institutions such as Goldman Sachs Alternatives, D.E. Shaw, Morgan Stanley Investment Management, Generation Investment Management, and Insight Partners.Ramp stated that the company is expanding its business into the AI cost management field, launching the AI Token spending management tool to help businesses monitor and control expenses related to large models and AI services. In recent months, Ramp has completed acquisitions of the UK and European payment platform Billhop and the business travel platform Juno, and has also deepened its long-term collaboration with Visa to promote AI agents to autonomously execute corporate payments within a real-time risk control framework.Ramp revealed that its internal AI tools have achieved a 99.5% employee adoption rate, with the internally developed platform Inspect currently generating over two-thirds of the company's code. The company plans to use this round of financing to further expand its product layout and accelerate its expansion into the UK and European markets.
app_icon
ChainCatcher Building the Web3 world with innovations.