FalconX rolls out 24/7 OTC crypto options trading with BTC, ETH, SOL and HYPE at launch

Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 196 BTC for approximately $22.1 million at an average price of $113,048 per bitcoin between Sept. 22 and Sept. 28, according to an 8-K filing with the Securities and Exchange Commission on Monday.

Strategy now holds a total of 640,031 BTC — worth around $72 billion — bought at an average price of $73,983 per bitcoin for a total cost of around $47.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. To put that in perspective, the haul represents more than 3% of Bitcoin's total 21 million supply and implies around $24.4 billion of paper gains.

The latest acquisitions were made using proceeds from at-the-market sales of its Class A common stock, MSTR, perpetual Strife preferred stock, STRF, and perpetual Stride preferred stock, STRD. 

Strategy's STRK, STRC, STRF, and STRD perpetual preferred stock's respective $21 billion, $4.2 billion, $2.1 billion, and $4.2 billion ATM programs are in addition to the firm's "42/42" plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027 — upsized from its initial $42 billion, "21/21" plan after the equity side was depleted.

STRD is non‑convertible with a 10% non‑cumulative dividend and the highest risk‑reward profile. STRK is convertible with an 8% non‑cumulative dividend, allowing equity upside. STRF is non‑convertible with a 10% cumulative dividend, making it the most conservative. STRC is a variable‑rate, cumulative preferred stock offering monthly dividends, with adjustable rates designed to keep it near par.

'Always be stacking'

Saylor gave his usual hint at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy's bitcoin acquisition tracker on Sunday, stating, "Always ₿e Stacking."

Strategy's bitcoin acquisitions. Image: Strategy.

Last week, Strategy reported it had bought 850 BTC for $99.7 million, taking its total holdings to 639,835 BTC. The pace of Strategy's bitcoin buys has generally been slowing in recent weeks as it switched primary focus from its common stock ATM program to its perpetual preferred stocks for funding further bitcoin acquisitions.

According to Bitcoin Treasuries data, there are now 180 public companies that have adopted some form of bitcoin acquisition model. MARA, Tether-backed Twenty One, Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company, Metaplanet, Bullish, Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase make up the remainder of the top 10, with 52,477 BTC, 43,514 BTC, 30,021 BTC, 25,555 BTC, 24,300 BTC, 19,309 BTC, 15,000 BTC, 12,703 BTC, and 11,776 BTC, respectively, with no additional declared acquisitions in the past week.

While the number of bitcoin treasury companies continues to increase, the value of many of the cohort's shares is down significantly from their summer peaks, with Strategy itself down 32%.

Although its mNAV has been contracting sharply over the past couple of months, Strategy's $87.6 billion market cap continues to trade at a premium to its bitcoin net asset value, with some investors concerned about the firm's premium valuation and its numerous bitcoin acquisition programs in general. However, analysts at Bernstein argue that with Strategy's relatively low debt levels and no payments due until 2028, the firm's leverage remains manageable. Strategy's mNAV currently sits at around 1.23.

Saylor also remains confident in Strategy's resilience. In an interview earlier this year, he said Strategy's capital structure is designed to withstand a 90% drop in bitcoin that persists for four to five years, thanks to its mix of equity, convertible debt, and preferred instruments — though he acknowledged that shareholders would still "suffer" in such a scenario.

MSTR closed up 2.8% on Friday at $309.06, according to The Block's Strategy price page, in a week that saw bitcoin fall 0.3%. MSTR is currently up 1.9% in pre-market trading on Monday, according to TradingView, and has gained just 3% year-to-date, compared to bitcoin's 20%.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

With a 0% change in its exchange reserve metric over the past day, Shiba Inu is displaying a rare sign of inactivity on the exchange front. This essentially means that there have been no significant SHIB inflows or outflows across exchanges, reversing a trend that usually increases price volatility.

Shiba Inu: No movement?

Stasis in reserves frequently indicates market indecision because neither buyers nor sellers are intervening forcefully enough to change the balance. At the moment, SHIB is trading close to $0.0000119, which is the lower edge of a conventional symmetrical triangle. Chart by TradingView">

For months, the price has been compressing inside this structure, which is indicated by rising support from the summer lows and falling resistance from the highs. SHIB is currently testing the lower trendline, indicating that the consolidation phase is nearing a turning point.

On-chain dynamic

It appears that traders are hesitant to make large commitments until SHIB confirms its next breakout direction, as evidenced by the fact that exchange reserves froze at 84.57 trillion tokens. Other on-chain data, however, does indicate some slight activity: transaction counts increased by +1.24%, and token transfers increased by +1.48%. However, the price momentum remains muted and does not reflect these marginal increases.

This hesitation is also reflected in the chart’s thinning volume. While not yet in oversold territory, the RSI, which is at 41, indicates a bearish bias. Regaining the cluster of moving averages above (50 EMA, 100 EMA and 200 EMA) would be required for any bullish reversal attempt, while a clear breakdown below support at 0.0000110 might pave the way for a move toward 0.0000090.

One way or another, SHIB is stagnant on the charts and the chain. Both buyers and sellers are marginalized, as evidenced by the 0% change in the exchange reserve. When this lull ends, traders should brace themselves for volatility, but for the time being, Shiba Inu is essentially stagnant.

Pacifica, a Solana-based perpetual DEX, has become the largest perpetual exchange on Solana by trading volume, surpassing Jupiter Exchange in the network's growing derivatives market.

The platform reported over $440 million in 24-hour trading volume, positioning it ahead of established players like Jupiter in the Solana perpetual DEX space. Pacifica has processed billions of dollars in total trading volume while still operating in closed beta.

The exchange has attracted over 10,000 active traders in under three months of operation, with platform data showing a 50% increase in total volume within a week. This rapid adoption highlights the growing interest in Solana's DeFi ecosystem for derivatives trading.

Recent updates to Pacifica include raised deposit and withdrawal limits to $50,000 per day and new trading pairs like $XPL perpetuals with 10x leverage during its closed beta phase. The platform's growth comes as Solana's perpetual DEX market experiences rapid expansion.

Story IP has made a comeback after a turbulent week, catching the attention of crypto traders everywhere. The token surged 11.8% overnight to $9.62, recovering losses from its steep 29% decline from the September 22 all-time high of $14.89. Its market cap now stands at $3.01 billion, with daily trading volume soaring by over 42% to $235.5 million. It is worth noting that both retail activity and ecosystem news are shaping this sudden turnaround.

Why is IP Price Up Today?

The main driver behind the rebound is retail trading. Many smaller investors jumped on the dip, pushing volumes higher. As per CryptoQuant, retail traders now dominate activity, with a slightly bullish tilt reflected in the Long/Short ratio of 1.03. 

On the development side, Story IP has been boosted by its Origin Summit partnership with Verse8. The deal introduces Moonbirds and Azuki IP into AI-powered gaming experiences. While the direct revenue impact is still modest, the news has sparked excitement across social platforms and revived interest in the token.

That weakness is clear when looking at numbers: protocol revenue is only $679 a day, far below what you’d expect for a project valued at $3 billion. This imbalance highlights just how speculative current trading is, meaning volatility is likely to stay high.

Story IP Price Analysis

Looking at things from a technical lens, the token has reclaimed its 30-day SMA at $9.62. This signals some potential for more gains if momentum continues. A bullish divergence in the RSI also suggests the token was oversold and is now bouncing back. However, still, bearish signs remain, as the MACD is in negative territory at -0.445, and the 7-day RSI sits at a muted 42.7.

Crypto analyst Bobby has revealed that the XRP price is about to close a 3-minute candle above a major region. He indicated that this was very bullish for the altcoin, providing insights into how high it could rally. 

XRP Price Set To Close Fourth 3M Candle Above

In an X post, Bobby revealed that the XRP price is about to close its fourth 3-minute candle above the highest 3-minute candlestick close of its prior bull cycle. He added that the altcoin is also on track to close a 3-minute candle body above the previous 3-minute candle wick high amid a highly fearful market and even without reaching a 1.618 extension. 

 Based on this, he urged market participants to “think bigger,” possibly alluding to the projections for the XRP price in this market cycle. His accompanying chart showed that XRP could rally to as high as $13, representing a gain of over 400% from its current price level. Meanwhile, Bobby highlighted the candle closes above the April 2021 high as another reason he is bullish on XRP. 

His analysis comes amid a market downtrend, which has seen the XRP price drop below crucial support levels. Bobby suggested that the current downtrend was nothing to worry about. He stated that a golden pocket retest for XRP, from its latest low to its swing high, would be between $2.50 and $2.55. However, he declared that a drop to this range wouldn’t change a “single thing” about where the altcoin is heading. 

Instead, the crypto analyst believes that this would help weed out paper hands, who don’t deserve to benefit from what is to come for the diamond hand holders. He added that strategy and patience are needed amid the wait for the XRP price to reach new highs. 

XRP Could Reach As High As $33

Crypto analyst Egrag Crypto has predicted that the XRP price could reach as high as $33 in this market cycle. He explained that, within the 2-week timeframe of the last leg in previous cycles, XRP always touched the 21 EMA before it blasted off. In 2017, the altcoin touched the EMA and then surged 1,250% while it rallied 560% in 2021. 

Egrag Crypto noted that if history repeats, the XRP price could rise to as high as $33 or $17, based on the gains from the previous cycle. Meanwhile, XRP could also record an average rally of 905%, which would put its price at $27. The analyst added that he doesn’t see how XRP won’t reach these targets. 

At the time of writing, the XRP price is trading at around $2.85, up over 2% in the last 24 hours, according to data from CoinMarketCap.

October could bring a wave of new crypto exchange-traded funds (ETFs) as the U.S. SEC prepares to make final decisions on 16 proposals. These ETFs cover a mix of major altcoins like Solana, XRP, and Litecoin, as well as popular memecoins such as Dogecoin. 

These approvals could signal a major shift in the SEC’s stance, showing a more open approach to crypto investments and would lead to wider adoption in the markets. 

‘Enormous’ Weeks Ahead for Crypto ETFs

Nate Geraci, president of ETF Store, calls the next few weeks enormous for spot crypto ETFs, with deadlines approaching for numerous filings, starting this week with Canary’s spot Litecoin ETF. 

After that, the SEC will consider decisions on ETFs tied to Solana, Dogecoin, XRP, Cardano, and Hedera. Geraci also notes that the SEC can choose to approve any or all of them at any time.

BlackRock, Fidelity ETFs Missing

Notably, analysts have also pointed out that none of the October deadlines involve Fidelity or BlackRock, the two biggest names in crypto ETFs. But still, these filings are worth keeping an eye on in the weeks ahead.

Previously, Bloomberg analysts have rated the chances of most spot crypto ETF approvals at 90% or higher, seeing the SEC’s engagement as a very positive signal. Adding to the momentum, the SEC recently approved the new standard for commodity-based trust shares, which could make it easier and faster to launch spot crypto ETFs.

James Seyffart called it a positive step toward a “wave of spot crypto ETP launches.”

Altcoin Rally Next?

The SEC currently has 92 crypto ETF filings waiting for approval. Analyst Virtual Bacon advises investors to expect a steady flow of ETF news in the coming months but not to chase individual coins as institutions are adopting them broadly, entering a new phase for the market.

Investor Ted Pillows also notes that spot ETFs for SOL, XRP, DOGE, and LTC face final deadlines next month, with a high chance of approval. He suggests two possible outcomes: either a quick spike followed by a drop, or a smaller dip first followed by a sustainable rally.

If these crypto ETFs get approved, it could make investing in cryptocurrencies much easier and safer for everyday investors. More institutional money could flow into the market and there will be wider adoption of these coins. While individual coin movements may fluctuate, the overall trend shows that the market is entering a new phase.

FAQs

Bloomberg analysts rate most spot crypto ETFs, like those for Solana and XRP, at 90% or higher for approval in 2025. Recent SEC rule changes signal a friendlier path for launches

Approvals may trigger quick spikes in coins like SOL and DOGE from institutional inflows, but watch for initial dips before sustainable rallies. Broader adoption could stabilize the market long-term

The SEC has 92 crypto ETF proposals pending, covering altcoins and memecoins. Expect steady approvals in coming months, easing access for everyday investors