In the past 24 hours, XRP has decreased by 3%, leading to losses in the cryptocurrency market, while Bitcoin (BTC) also started this special week with a 1.5% drop. The Japanese company Metaplanet announced the purchase of 619.70 BTC worth $61 million, raising its total BTC holdings to 1,762 after increasing its ownership by 54%.
The CoinDesk 20 index fell by 1.39%, and major cryptocurrencies like Ethereum (ETH), Cardano (ADA), Solana (SOL), and Dogecoin (DOGE) also experienced declines of up to 2%. In contrast, Chainlink (LINK) and Tron (TRX) recorded growth.
Market analysts express caution ahead of the holiday, pointing to declining sentiment and the potential for deeper declines due to holiday liquidity and stock market trends. The chief analyst at FxPro warns that selling from institutions could exacerbate the market pullback, with Bitcoin potentially dropping to $70,000.
MoonPay, a company specializing in cryptocurrency payments, is reportedly considering acquiring the e-commerce platform Helio Pay for around $150 million, which would be their largest deal to date. Helio Pay supports over 6,000 merchants and content creators in accepting cryptocurrencies like Bitcoin and Ether, and is prominently integrated with Solana Pay on Shopify. The acquisition will help MoonPay enhance its services and expand its user base, currently around 20 million users across 160 countries. MoonPay allows users to buy and sell digital assets through various payment methods and has recently launched new features, such as a fiat-to-crypto solution called MoonPay Balance. The company was founded in 2018 by Victor Faramond and Ivan Soto-Wright.
These developments indicate that the cryptocurrency market is going through a period of instability due to macroeconomic developments and changes in the strategic priorities of large companies. Caution and sharp calculations remain essential for investors during this sensitive time.
