MAROKO133 Breaking crypto: Dutch Firm Amdax Raises $35M For Bitcoin Treasury, Plans to Acq

📌 MAROKO133 Eksklusif crypto: Dutch Firm Amdax Raises $35M For Bitcoin Treasury, P

Dutch crypto firm Amdax has secured 30 million euros ($35M) in its latest funding round to launch a dedicated Bitcoin treasury company, Amsterdam Bitcoin Treasury Strategy (AMBTS), with plans to accumulate 1% of the total BTC supply.

According to a Reuters report dated October 7, the AMBTS team is now prepared to begin acquiring Bitcoin for its treasury.

CEO and AMBTS co-founder Lucas Wensing described the completion of the funding round as a crucial milestone in the company’s Bitcoin accumulation mission.

Amdax Targets 210,000 BTC to Become Europe’s Bitcoin Treasury Giant

“We now advance with our bitcoin strategy, offering investors clear access to this distinct asset class,” Wensing stated.

Back in August, Cryptonews reported that Amdax had obtained €20 million ($23 million) in early funding for AMBTS and announced plans to close its private funding round at €30 million ($35 million) before seeking a public listing on Euronext Amsterdam.

This target has now been reached, with bitcoin purchases set to begin.

The company intends to use capital markets to increase Bitcoin per share while working toward its 210,000 BTC target, valued at roughly $26 billion at today’s prices.

CEO Lucas Wensing argues that Europe requires its own Bitcoin treasury leader to match the corporate adoption rates seen in the U.S. and Asia, where institutional holdings have grown substantially.

This follows the recent MiCAR license approval that Amdex obtained to meet the new European legislation for crypto markets.

Amdax now joins the expanding roster of major companies adding BTC to their corporate reserves.

Another Dutch firm pursuing a BTC treasury is Treasury B.V., which has backing from the Winklevoss twins.

Unlike AMBTS, Treasury has already started operations with a balance of 1,000 BTC.

AMBTS Bitcoin treasury ambitions follow Strategy (formerly MicroStrategy), the U.S.-based software company that has become nearly synonymous with corporate Bitcoin adoption.

Corporate Bitcoin Treasuries Surge Past 1M BTC Across 200 Firms

According to BitcoinTreasuries.net, MicroStrategy currently holds 640,031 BTC, making it the largest public holder by a wide margin.

In total, public companies now control approximately 1,040,961 BTC across 200 firms, a figure that has risen by nearly 4.89% in the past month alone.

Other corporate holders include Marathon Holdings with over 52,000 BTC, the United States’ Twenty One Company with 43,514 BTC, and Japan’s Metaplanet with nearly 31,000 BTC.

Combined, entities ranging from corporations to governments now hold about 3.74 million BTC globally, valued at $463.8 billion.

Meanwhile, US Senator Cynthia Lummis (R-WY) has suggested that the United States could also begin purchasing Bitcoin as funds to establish a US strategic Bitcoin reserve (SBR) may materialize at any time.

The crypto market showed signs of strength at the start of the week, with Bitcoin climbing to a new record high above $126,000 on Monday, extending gains as investors sought refuge from political and economic uncertainty.

The world’s largest digital asset reached as high as $126,080 after crossing the $125,000 mark for the first time on Sunday.

It has now stabilized at $124,209, still up 0.45% and on track for a second consecutive session of gains.

Ryan Lee, chief analyst at Bitget, said Bitcoin could maintain its upward trajectory in the near term.

He noted investors may witness a test of $130,000 if ETF momentum continues to accelerate.

Elliott Wave Fifth Wave Bull Indicator Points to $134K

Examining the Bitcoin chart reveals an Elliott Wave pattern with a potential fifth wave development.

The price recently pushed above a major resistance zone around $121,000 and is currently trading at approximately $124,188, displaying strong upward momentum.

The chart presents a clear consolidation phase throughout July and August, where the price maintained a rectangular range between roughly $113,000 and $121,000.

After dipping in mid-August to retest support around $105,000 (marked as wave iv), Bitcoin has mounted an impressive recovery rally through September and October, reclaiming previous resistance levels.

The primary technical observation is that price has now firmly broken above the $121,000 resistance level, which previously served as a barrier multiple tim…

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🔗 Sumber: cryptonews.com

📌 MAROKO133 Update crypto: Warning Signs Emerge as BNB Hits Record Highs While Use

BNB has surged to a new all-time high today, fueled by renewed bullish sentiment and fresh capital inflows into risk assets amid a weakening US dollar. 

However, beneath the surface, on-chain data tells a different story. User activity on the BNB Chain has been on a steady decline since late September, signaling that the user demand on the network is weakening even as prices soar. What does this mean?

BNB’s Bull Run Faces Risk 

BNB’s price has surged 25% over the past week, making it the best-performing asset among the top five cryptocurrencies by market capitalization. This double-digit rally pushed the token to a new all-time high of $1,263, where it reached earlier today.

However, there’s a catch. On-chain data reveals that while BNB’s price has climbed sharply, user activity on the BNB Chain has been trending downward. 

For example, Glassnode data shows that the BNB Chain’s daily new address count has declined by 57% since September 24, marking a sharp slowdown in network growth.

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

A drop in a network’s new address count signals weakening demand and lower user participation. New addresses typically rise alongside price in healthy market rallies as more users join in.

Therefore, the divergence noted in BNB’s case signals that the price surge is not driven by new demand for the coin or an uptick in network activity. This puts it at risk of a pullback in the near term.

BNB Bulls Are Losing Steam

Furthermore, readings from BNB’s Relative Strength Index (RSI) hint at potential buyers’ exhaustion, which could trigger a price correction in the near term. At press time, this momentum is at 75.79, signaling that the altcoin is overbought, and its upward momentum could soon fade.

The RSI indicator tracks an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Conversely, values under 30 indicate that the asset is oversold and may witness a rebound.

At 75.79, BNB’s RSI signals that it is becoming significantly overbought. With no real demand backing the rally, a pullback is inevitable in the near term.

BNB Faces $1,100 Test 

Without a rebound in network activity to validate BNB’s price action, its price could dip toward $1,100. If this critical support floor fails to hold, the coin’s price could fall further to $971.80.

However, if macro momentum strengthens or actual demand for BNB soars, its price could register a new price peak over the next few trading sessions. 

The post Warning Signs Emerge as BNB Hits Record Highs While User Activity Plunges appeared first on BeInCrypto.

🔗 Sumber: www.beincrypto.com