Crypto Treasury Stocks Face a Reckoning. Why Boom Could Turn to Bust. — Barrons.com

VIRTUAL’s rapid price jump to $1.06 in the last 24 hours has become a hot topic, gaining over 33% and crowning a 40% weekly growth. The story here goes beyond just numbers. Multiple key catalysts have created a perfect storm. First, the Virtuals protocol has recently attracted attention after its integration with major AI partners and events like the Ethereum AI Hackathon. Second, Robinhood and Grayscale interest signal improved liquidity.

On the technical end, something even more interesting is happening. We just witnessed a technical breakout above $0.88, this wasn’t a mere blip. Trading volume exploded 688% above its 24-hour average. The MACD histogram flipping positive and the RSI clocking in at 70.57 reveals surging bullish momentum, even though the market is edging toward overbought territory. With things getting this interesting, you cannot miss out on this price analysis.

Virtuals Protocol Price Analysis

Right now, VIRTUAL price stands tall at $1.06, brushing up against resistance after smashing through its previous ceiling at $0.88. Which is now a new support level. The price action has set sights on higher goals, with the $1.18 level as the near-term bull target. And $1.40 positioned as a stretch target if enthusiasm persists. If the price can sustain above $1.05 and avoid sharp reversals, bullish momentum could quickly reignite. 

According to software engineer Vincent Van Code, fresh practical reasons are emerging for renewed confidence in XRP among some developers and investors. He argues that the biggest barrier to big firms holding XRP directly isn’t price or interest — it’s operations and compliance.

Custody Costs Stall Direct Holdings

Van Code told followers that big companies can’t just “set up a Ledger or Xumm wallet and drop $100 million in there.” He said institutions need formal custody arrangements, regular audits and compliance systems before they will touch crypto on a large scale.

Reports place the upkeep of those services at about $300,000 a year for a single institutional setup, a figure that helps explain why many firms prefer not to hold tokens on their own balance sheets.

ETFs And Equity Routes Gain Traction

Based on reports, Van Code believes that exchange-traded funds and public companies that hold XRP will be the easiest route for institutions to gain exposure.

There are currently seven applications for XRP ETFs pending with the US Securities and Exchange Commission, though filings have been paused amid the US government shutdown.

For many large investors, buying shares in a regulated fund or a company with an XRP treasury avoids the need to run custody systems in-house.

Evernorth has become a focal point in that discussion. The venture, backed in part by Ripple, plans to build what it calls an institutional XRP treasury.

Evernorth aims to purchase $1 billion worth of XRP and will start with over 560 million XRP after it secures $1.1 billion in committed capital from participants that include Ripple and SBI Holdings.

Reports say the firm is pursuing a merger that is expected to close in Q1 2026, and the XRP purchases are planned to take place within 10 days of funding.

2025 is turning into a defining year for XRP, as institutional interest in the token reaches new heights. From major ETF inflows to fresh derivatives listings, XRP is finally gaining the kind of attention once reserved for Bitcoin and Ethereum.

Two major developments, the first U.S. spot XRP ETF crossing a major milestone and the launch of XRP options on CME, are clear signs of growing demand.

XRP ETF Crosses $100 Million Milestone

Just months after its launch, the XRPR ETF broke above $100 million in AUM as net inflows surged through October. For XRP, this is more than just a number, it marks a major step toward mainstream adoption.

The fund’s managing firm, REX-Osprey, reported that nearly 40% of the current AUM originated from institutional portfolios, including hedge funds, family offices, and registered investment advisors. This places $XRPR among the top-performing spot crypto ETFs for Q4 2025

CME Group: Derivatives Signal Deep Institutional Demand

Adding to the momentum, CME Group, one of the world’s largest derivatives exchanges, has flagged a spike in open interest and trading volume in its newly-launched XRP futures contracts.

This follows the strong performance of its futures market since it launched in May, which has already seen more than 567,000 contracts traded, representing over $26.9 billion in notional volume.

Following speculation regarding a potential return, Changpeng Zhao, known as CZ, the co-founder and former CEO of Binance, has sparked discussions about the implications of his recent presidential pardon for the exchange’s operations in the United States. 

Will CZ Reclaim His CEO Position At Binance? 

Industry observers suggest that this major development for CZ and Binance as a whole could pave the way for Zhao to resume leadership roles and consolidate Binance’s US operations.

According to Bloomberg, the company is exploring several options, including the possibility of integrating Binance.US into its global operations or having its global exchange enter the US market, as indicated by a source familiar with the matter. 

“This cycle is largely being driven by U.S. institutional investors and investment products, and that’s precisely where Binance can now shift its focus,” stated Markus Thielen, CEO of 10x Research. 

He added that the US affiliate will likely be reintegrated into Binance’s global ecosystem, providing US investors with direct access to the platform’s “deep liquidity and comprehensive derivatives offerings.”

Attention is now focused on whether Zhao will attempt to reclaim the CEO role he previously stepped away from. In recent weeks, he updated his profile on social media platform X from “ex-Binance” to simply “@Binance,” a subtle change that has fueled speculation about his intentions.

However, not everyone believes Zhao is eager to return as CEO. David Namdar, who manages a BNB treasury company backed by Zhao’s family office, commented, “I think he is operating with more of a weight off his shoulders not running the exchange. I’d be surprised if he stepped back into that role.”

Industry Leaders Predict Increased Involvement 

Patrick Horsman, chief investment officer of digital asset treasury (DAT) firm Applied DNA Sciences, which invests in Binance Coin (BNB), emphasized that Binance’s technology, liquidity, and relatively low fees could position it as a dominant player in the American crypto market.

However, Bloomberg highlights that the pardon may not only enhance Zhao’s personal prospects but also unlock new opportunities for Binance’s global expansion. 

Notably, the firm holds minority stakes in affiliates throughout Asia, including Thailand and Malaysia, where regulatory frameworks impose ownership suitability tests on major shareholders. 

“A criminal conviction can pose a barrier for any individual seeking a beneficial ownership stake in a regulated or listed company,” explained Chris Holland, a partner at HM, a consulting firm based in Singapore.

Cosmo Jiang, general partner at Pantera, anticipates that Zhao will become “more involved with Binance’s operations” now that he has received a pardon. “Whenever a founder returns to a company, it’s always an invigorating moment; you typically see more growth and better execution,” he noted.

Featured image from DALL-E, chart from TradingView.com 

Cardano (ADA) appears to be preparing for a major rally, as bullish technical signals and network milestones spark renewed optimism among traders.

After months of consolidation, ADA’s price action is forming what analysts describe as a “textbook breakout setup.” The token currently trades around $0.65, below key moving averages, but with indicators pointing toward an imminent reversal.

Cardano’s fundamentals continue to strengthen. The network recently surpassed 115 million transactions, signaling steady ecosystem growth despite broader market weakness. This achievement, combined with the rollout of Cardano domain names and anticipation for the Ouroboros Leios upgrade, builds more confidence.

Technical Indicators Flash Buy as Bulls Regain Control

Technically, ADA is nearing a decisive point. Chart analysts note a falling wedge pattern forming on the daily timeframe, a historically bullish setup that often precedes explosive moves. A break above the $0.79–$0.80 resistance could pave the way for a swift rally toward $1.10, and eventually, the projected $2.50 target.

Momentum oscillators are beginning to turn upward, while futures market open interest is climbing, an indication that institutional traders are re-entering positions.

Golden-cross signals between shorter and longer-term moving averages further validate the bullish bias, suggesting that accumulation is taking place at current levels.

Nexora (NEX) will begin trading on BitMart on October 27, 2025, with a NEX/USDT trading pair. BitMart is a well-known global exchange, so Nexora will now reach more users who did not have easy access before. New listings often bring extra attention and more trading, which can cause sharp price changes. If many new buyers join, the price could rise quickly. But sometimes, after the first excitement, prices can drop again if there is not much real demand. Traders often watch the listing day for fast moves. source