A Hong Kong-based subsidiary of a major Chinese commercial bank, China Merchants Bank (CMB), tokenized its $3.8 billion money market fund (MMF) on BNB Chain.
CMB International Asset Management (CMBI) has partnered with BNB Chain to bring its CMB International USD Money Market Fund onto its layer-1 (L1) blockchain, BNB Chain announced on Wednesday.
The partnership builds on CBMI’s real-world asset tokenization (RWA) cooperation with Singapore-based tokenization platform DigiFT, which tokenized the fund on the Solana blockchain in August.
The CMBI’s fund launch on BNB Chain came weeks after online reports suggested that China’s securities regulator had been pressuring local brokerages to pause their RWA projects in Hong Kong.
Quick fund overview
Launched in early 2024, the CMB International USD Money Market Fund is a sub-fund of the CMB International Open-ended Fund Company, which is a public umbrella open-ended fund company established in Hong Kong.
The fund primarily invests in US dollar-denominated deposits as well as state-backed money market instruments in countries or regions, including the US, Singapore, the European Union, mainland China, Hong Kong, Macau and Taiwan.
The CMB International USD Money Market Fund’s AUM from April 2025. Source: HKEX
According to data from the Hong Kong Stock Exchange (HKEX), the fund has been steadily growing since its inception, with AUM adding 24% from $2.9 billion in April to $3.6 billion by August.
CMBMINT and CMBIMINT tokens deployed on BNB Chain
CMBI Asset Management’s collaboration with BNB Chain marks a milestone in bringing RWAs to one of the most active blockchain ecosystems, BNB Chain said in the announcement.
“By expanding onchain distribution, CMB International and BNB Chain are providing Accredited Investors with direct, blockchain-based access to a top-performing fund with over $3.8 billion AUM,” it added.
The collaboration brings two tokens, CMBMINT and CMBIMINT, onto the BNB blockchain, allowing investors to gain exposure to the fund using fiat currencies or stablecoins and redeem holdings via DigiFT.
The launch also involves the RWA infrastructure provider OnChain, which enables investors to use the tokens across multiple decentralized finance (DeFi) applications, such as lending and yields.
As mainland China regulators have reportedly asked Hong Kong brokerages to halt RWA offerings, it appears to be unclear whether the tokenized CMBI fund aligns with the local regulatory ecosystem.
Approached by Cointelegraph to comment on the reported pressure from mainland China regulators, the Hong Kong Monetary Authority declined to comment.
Cointelegraph approached BNB Chain for comment regarding the issue, but had not received a response by publication.
DCA is a trading strategy that uses automated, small, regular buys to stay invested without trying to time every move.
There’s a clear precedent for scalability: El Salvador has been publicly DCA’ing 1 BTC per day since Nov. 17, 2022.
However, lump-sum investing often wins in uptrends — historically outperforming DCA about two-thirds of the time.
It works best for investors who earn regularly in fiat and prefer a steady, rule-based approach over impulsive trading.
What is DCA?
Dollar-cost averaging (DCA) is the practice of buying a fixed amount of an asset at regular intervals, such as every week or month, without considering price movements.
Imagine investing $10 in Bitcoin (BTC) every week. When the price drops, your $10 buys more units; when it rises, you buy fewer. Over time, these purchases average out into a single cost basis.
DCA won’t protect you from drawdowns if the asset keeps trending lower. In a steadily rising market, a lump-sum investment often performs better. Use DCA as a tool for discipline and automation to help you stay consistent.
Why crypto investors use DCA
Crypto trades 24/7, with sharp moves as likely on a Sunday night as on a Tuesday morning. In such a continuous market, trying to “pick your moment” is mostly guesswork, which is why many investors prefer a rule that removes the need for perfect timing.
DCA provides exactly that: You set the asset, amount and frequency, then let the schedule handle the rest. The result is steady exposure without the pressure to react to every market swing.
There’s a psychological benefit, too. A simple, pre-set routine helps curb fear of missing out (FOMO) on green days and panic on red ones. Instead of reacting to headlines, you stick to the plan.
It’s also easy to set up. Most major exchanges and wallets now offer recurring buy or “Auto-Invest” options: Just choose your coin, select a weekly or monthly schedule and let the orders run automatically.
For anyone building a position from regular income, such as salary, freelance payments or side hustles, DCA fits neatly into everyday finances. It also keeps decision-making calm and repeatable.
Did you know? Fundstrat analysis suggests that missing just the 10 best Bitcoin days in a year can wipe out most or all of that year’s gains. Timing perfectly isn’t just hard; it’s costly.
Case study: El Salvador’s Bitcoin DCA
A real-world example: El Salvador made Bitcoin legal tender in 2021 and chose steady accumulation instead of headline-grabbing bets. On Nov. 17, 2022, President Nayib Bukele set a simple rule: buy one Bitcoin every day — a transparent routine anyone can verify.
There have been symbolic top-ups. On “Bitcoin Day” in September 2025, Bukele announced a 21-BTC purchase, taking disclosed reserves to about 6,313 BTC.
Also, not every coin came from the market; geothermal mining reportedly added around 474 BTC over three years (small in energy terms, but still additive).
How has it worked out? During the late-2024-to-mid-2025 rally, media estimates pointed to unrealized gains of $300 million by December 2024, rising to portfolio values north of $700 million months later, implying hundreds of millions in profit at peak. Figures move with price, but the pattern was clear in that upswing: Disciplined buying built a meaningful position.
Indeed, a simple, repeatable rule can act both as a policy signal and as an operational habit for long-term accumulation.
Did you know? Strategy (formerly MicroStrategy) has become the largest corporate Bitcoin holder, reporting 640,000 BTC by late September/early October 2025 — an institutional-scale, rules-driven accumulation story.
Common mistakes and risks in DCA
Even with a high-profile example, DCA isn’t without drawbacks. The main one is opportunity cost. In a rising market, a lump sum often wins because more of your capital benefits from the gains earlier. Studies in equities show lump-sum investing outperforms cost averaging roughly two-thirds of the time, and the same logic can extend to crypto.
Next, fees and friction. Many small orders can increase overall costs. Platforms often add spreads on top of explicit trading fees, and onchain transfers include network fees. If your fee structure penalizes tiny orders, making fewer, larger purchases may be more efficient.
There’s also execution and venue risk. Standing orders depend on deposits clearing and automations running smoothly, but outages or delays can disrupt the schedule. Using a centralized platform also exposes you to operational, legal and security risks, so decide carefully how you’ll hold your assets.
Behavior matters, too. Averaging into an asset that keeps falling still loses money, and DCA often trails lump-sum investing during strong bull markets.
Finally, admin and tax: Frequent buys create multiple lots to track. For example, in the UK, His Majesty’s Revenue and Customs (HMRC) pooling rules require careful record-keeping. Check your local tax guidance before enabling “Auto-Invest.”
Did you know? Network fees aren’t constant. Around major events (like the 2024 halving and token-minting frenzies), onchain fees spiked even as prices stabilized, so recurring onchain transfers can cost more at busy times.
DCA or lump sum? A side-by-side look
When (and when not) to use DCA
DCA suits people who want steady exposure without trying to time every move. If you’re new, short on time or simply prefer a calm routine, a fixed automatic buy helps you stay invested through the noise.
It also works well for anyone earning in fiat who can set aside a small, regular amount instead of committing a lump sum. The real advantage is behavioral: You replace impulse with habit and stop second-guessing every decision.
Still, it’s not for everyone. If you’re sitting on a sizable cash pile and comfortable with risk, history shows that putting it to work all at once often performs better in rising markets. And if your style involves short-term trading around catalysts, a slow, calendar-based plan won’t fit your goals.
A few guardrails help: Pick an amount you can sustain even during drawdowns; automate but check fees and spreads — if small orders cost more, buy less often in larger amounts; decide in advance how you’ll take profit, rebalance or stop (time-based, target allocation or goal-linked); and make a clear custody plan, whether through an exchange, broker or self-custody, with basic security in place.
DCA is a discipline tool that rewards simplicity and consistency over speed. Whether it’s right for you depends on your cash flow, risk tolerance and how much you value a steady, rule-based process.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
DCA is a trading strategy that uses automated, small, regular buys to stay invested without trying to time every move.
There’s a clear precedent for scalability: El Salvador has been publicly DCA’ing 1 BTC per day since Nov. 17, 2022.
However, lump-sum investing often wins in uptrends — historically outperforming DCA about two-thirds of the time.
It works best for investors who earn regularly in fiat and prefer a steady, rule-based approach over impulsive trading.
What is DCA?
Dollar-cost averaging (DCA) is the practice of buying a fixed amount of an asset at regular intervals, such as every week or month, without considering price movements.
Imagine investing $10 in Bitcoin (BTC) every week. When the price drops, your $10 buys more units; when it rises, you buy fewer. Over time, these purchases average out into a single cost basis.
DCA won’t protect you from drawdowns if the asset keeps trending lower. In a steadily rising market, a lump-sum investment often performs better. Use DCA as a tool for discipline and automation to help you stay consistent.
Why crypto investors use DCA
Crypto trades 24/7, with sharp moves as likely on a Sunday night as on a Tuesday morning. In such a continuous market, trying to “pick your moment” is mostly guesswork, which is why many investors prefer a rule that removes the need for perfect timing.
DCA provides exactly that: You set the asset, amount and frequency, then let the schedule handle the rest. The result is steady exposure without the pressure to react to every market swing.
There’s a psychological benefit, too. A simple, pre-set routine helps curb fear of missing out (FOMO) on green days and panic on red ones. Instead of reacting to headlines, you stick to the plan.
It’s also easy to set up. Most major exchanges and wallets now offer recurring buy or “Auto-Invest” options: Just choose your coin, select a weekly or monthly schedule and let the orders run automatically.
For anyone building a position from regular income, such as salary, freelance payments or side hustles, DCA fits neatly into everyday finances. It also keeps decision-making calm and repeatable.
Did you know? Fundstrat analysis suggests that missing just the 10 best Bitcoin days in a year can wipe out most or all of that year’s gains. Timing perfectly isn’t just hard; it’s costly.
Case study: El Salvador’s Bitcoin DCA
A real-world example: El Salvador made Bitcoin legal tender in 2021 and chose steady accumulation instead of headline-grabbing bets. On Nov. 17, 2022, President Nayib Bukele set a simple rule: buy one Bitcoin every day — a transparent routine anyone can verify.
There have been symbolic top-ups. On “Bitcoin Day” in September 2025, Bukele announced a 21-BTC purchase, taking disclosed reserves to about 6,313 BTC.
Also, not every coin came from the market; geothermal mining reportedly added around 474 BTC over three years (small in energy terms, but still additive).
How has it worked out? During the late-2024-to-mid-2025 rally, media estimates pointed to unrealized gains of $300 million by December 2024, rising to portfolio values north of $700 million months later, implying hundreds of millions in profit at peak. Figures move with price, but the pattern was clear in that upswing: Disciplined buying built a meaningful position.
Indeed, a simple, repeatable rule can act both as a policy signal and as an operational habit for long-term accumulation.
Did you know? Strategy (formerly MicroStrategy) has become the largest corporate Bitcoin holder, reporting 640,000 BTC by late September/early October 2025 — an institutional-scale, rules-driven accumulation story.
Common mistakes and risks in DCA
Even with a high-profile example, DCA isn’t without drawbacks. The main one is opportunity cost. In a rising market, a lump sum often wins because more of your capital benefits from the gains earlier. Studies in equities show lump-sum investing outperforms cost averaging roughly two-thirds of the time, and the same logic can extend to crypto.
Next, fees and friction. Many small orders can increase overall costs. Platforms often add spreads on top of explicit trading fees, and onchain transfers include network fees. If your fee structure penalizes tiny orders, making fewer, larger purchases may be more efficient.
There’s also execution and venue risk. Standing orders depend on deposits clearing and automations running smoothly, but outages or delays can disrupt the schedule. Using a centralized platform also exposes you to operational, legal and security risks, so decide carefully how you’ll hold your assets.
Behavior matters, too. Averaging into an asset that keeps falling still loses money, and DCA often trails lump-sum investing during strong bull markets.
Finally, admin and tax: Frequent buys create multiple lots to track. For example, in the UK, His Majesty’s Revenue and Customs (HMRC) pooling rules require careful record-keeping. Check your local tax guidance before enabling “Auto-Invest.”
Did you know? Network fees aren’t constant. Around major events (like the 2024 halving and token-minting frenzies), onchain fees spiked even as prices stabilized, so recurring onchain transfers can cost more at busy times.
DCA or lump sum? A side-by-side look
When (and when not) to use DCA
DCA suits people who want steady exposure without trying to time every move. If you’re new, short on time or simply prefer a calm routine, a fixed automatic buy helps you stay invested through the noise.
It also works well for anyone earning in fiat who can set aside a small, regular amount instead of committing a lump sum. The real advantage is behavioral: You replace impulse with habit and stop second-guessing every decision.
Still, it’s not for everyone. If you’re sitting on a sizable cash pile and comfortable with risk, history shows that putting it to work all at once often performs better in rising markets. And if your style involves short-term trading around catalysts, a slow, calendar-based plan won’t fit your goals.
A few guardrails help: Pick an amount you can sustain even during drawdowns; automate but check fees and spreads — if small orders cost more, buy less often in larger amounts; decide in advance how you’ll take profit, rebalance or stop (time-based, target allocation or goal-linked); and make a clear custody plan, whether through an exchange, broker or self-custody, with basic security in place.
DCA is a discipline tool that rewards simplicity and consistency over speed. Whether it’s right for you depends on your cash flow, risk tolerance and how much you value a steady, rule-based process.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
CZ’s mention turned meme token “4” into a trade; one early buyer saw $3,000 grow to $2 million.
The trigger was the hack of BNB Chain’s X account, which spawned “4.”
The surge came from flow hitting thin liquidity, not fundamentals.
Some wallets had already bought moments before CZ’s post.
On Oct. 1, 2025, BNB Chain’s official X account was hijacked and used to push phishing links. Within hours, the drama spun into a joke token on BNB Chain called “4,” a playful nod to reports that the attacker made off with only about $4,000.
Then, Changpeng “CZ” Zhao, Binance’s co-founder and former CEO, referenced the incident.
That single mention turned a niche gag into a live market signal as attention flooded into a brand-new pool with barely any liquidity.
In the rush that followed, one early buyer put about $3,000 worth of BNB (BNB) into “4” and watched it mark up to around $2 million on screen within hours.
Did you know? When CZ tweets “4,” he’s referencing point #4 from his 2023 “Do’s & Don’ts” list: Ignore FUD, fake news, attacks, etc. It became a community shorthand long before the 4 memecoin appeared.
How a meme turned into a move
1. BNB Chain account hijacked (Oct. 1, 2025)
BNB Chain’s official X account was compromised and used to post phishing links to roughly 4 million followers. The team later regained control and issued warnings. Out of the chaos came a running joke that the attacker made off with only “$4k.”
2. A joke gets a ticker
Within hours, a new token called 4 launched on BNB Chain — a wink at the “$4k” meme. Early buyers began circling a brand-new liquidity pool that was barely funded.
3. CZ amplifies it
Changpeng “CZ” Zhao referenced the incident to his 10.3 million followers, noting the hacker’s small profit and how the community “bought the memecoin higher.” What began as a joke quickly turned into a live trade signal. Human traders and bots now had a ticker to chase.
4. The first wave of orders hits
Scanners flagged the contract, copy traders queued buys, and retail flowed through aggregators into the same shallow pool. With wafer-thin depth, each filled order lifted the next quote. Slippage widened, momentum compounded, and the chart turned near-vertical.
5. The headline wallet is already in
An address labeled “0x872” bought in early with about $3,000 worth of BNB. As attention flooded the pool and liquidity thinned, that small stake swelled to roughly $2 million within hours.
Inside the winning wallet
The wallet that grabbed headlines (“0x872”) didn’t look like a mastermind. It put around $3,000 worth of BNB into a freshly minted token and, as attention hit, watched its mark-to-market soar.
What turned a modest position into a paper fortune was getting in early on a thin pool. When liquidity is shallow, every new buyer pushes up the next quote you’d sell into — whether you actually sell or not.
Then came the moment every speculator both wants and dreads: life-changing numbers on screen with almost no depth underneath.
Onchain traces show only light profit-taking. The address kept over 98% of its portfolio in 4, still around $1.88 million after the first spike, maximizing upside if momentum held, but leaving the position exposed if a single decent market sell hit the pool.
The screenshots told the same story: roughly $1.8 million in unrealized profit over the week.
“Unrealized” is the operative word. Until an order fills, profit and loss (PnL) is just a suggestion. In venues where one sale can move the price several percentage points, even trimming requires intent and a plan. Many traders learn this by round-tripping a win back to par; this wallet, for a time, chose to ride.
Flow around the wallet fed the loop. “Smart money” addresses tracked by Lookonchain began buying 4, pushing it into the most accumulated BNB Chain tokens over the next 24 hours.
That feedback loop magnified reflexivity. As more screens lit up and copy trades fired, the early holder’s unrealized value kept climbing — until a larger seller finally tested the pool’s depth.
0x872’s outcome hinged on two choices: stepping in absurdly early and resisting the immediate urge to cash out.
Did you know? 0x872 wasn’t alone. Another wallet had reportedly bought minutes before CZ’s post and was up seven figures within hours — a reminder that fast alerts and feed monitoring can create a real edge in meme-driven bursts.
When hype outruns depth
So, what’s in store for the headline wallet? Maximum upside if momentum holds and maximum downside if a single decent sell order hits a shallow pool.
But we shouldn’t lose sight of the catalyst: a compromised official account. Spikes like this attract phishers and look-alike contracts. The takeaway is procedural. Verify the contract and the pool size, script an exit in advance and treat screenshots as suggestions until a fill clears.
Posts create flow, not value, and the exit door is narrower than it looks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The BNB/USD pair has hit multiple all-time highs since late July, pushing the relative strength index (RSI) on the weekly chart into overbought territory, raising the risk of a short-term pullback.
The RSI reached 81 last week before dropping to its current level of 71. These elevated levels are historically associated with significant price pullbacks, as seen in 2021 (a 70% drop) and July 2024 (a 44% pullback).
A correction toward the psychological level at $1,000 looks increasingly likely in the coming days, if the recent overbought declines are any indication.
BNB’s decline could extend toward the $730-$860 zone, where the 20-week simple moving average (SMA) and the 50-week SMA currently sit. These trendlines have provided reliable support during recent pullbacks.
BNB’s RSI is “currently in the overbought range across multiple periods,” analyst Saint wrote in an X post, adding:
“This indicates potential for price correction, which could lead to a consolidation or a pullback.”
BNB price may drop to $1,000
A double-top formation on BNB’s four-hour chart projects a return to the pattern’s neckline at $1,000, as shown below. Such a move would bring the total losses to 17% from the current levels.
The odds of a potential short-term pullback in BNB price are magnified by a growing bearish divergence between its price and the RSI.
The chart above shows that while the BNB/USD pair formed higher highs between Oct. 7 and Monday, the RSI printed lower highs.
A divergence between rising prices and a falling RSI usually indicates weakness in the prevailing uptrend, prompting traders to sell more at local highs as profit-taking intensifies and buyer exhaustion sets in.
Is the BNB price in a technical correction?
Despite today’s pullback, analysts are convinced that BNB bulls are still in control, based on the price action in higher time frames.
Data from Cointelegraph Markets Pro and TradingView indicates that the price remains bullish in the monthly time frame, with a bull flag that has been in effect since October 2023, suggesting that BNB could rise as high as $2,100.
Such a move would represent 73% gains from the current price.
As Cointelegraph reported, a daily candlestick close above $1,350 would signal that the bulls remain in control, with the BNB/USDT pair may then rally to $1,600 and beyond.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Friday’s record $19 billion crypto market liquidation event has left traders divided, with some accusing market makers of a coordinated sell-off while analysts pointed to a more natural deleveraging cycle.
Friday’s flash crash saw open interest for perpetual futures on decentralized exchanges (DEXs) fall from $26 billion to below $14 billion, according to DefiLlama.
Crypto lending protocol fees surged past $20 million on Friday, the highest daily total on record, while weekly DEX volumes climbed to more than $177 billion. The total borrowed across lending platforms also dropped below $60 billion for the first time since August.
Despite multiple traders pointing to a coordinated correction caused by platform glitches and large market participants, blockchain data suggested that most of the record liquidation was organic.
During Friday’s crash, open interest saw a $14 billion decline, but at least 93% of this decline was a “controlled deleveraging, not a cascade,” according to Axel Adler Jr, analyst at blockchain data platform CryptoQuant.
Out of the $14 billion, only $1 billion worth of long Bitcoin (BTC) positions were liquidated, which marked a “very mature moment for Bitcoin,” Adler said in a Tuesday X post.
Still, not everyone is convinced the event was purely mechanical. Several market watchers have accused major market makers of contributing to the collapse by pulling liquidity from exchanges at critical moments.
Looking at order book data, market makers allegedly created a “liquidity vacuum” that exacerbated the correction, according to blockchain sleuth YQ.
Market makers started withdrawing liquidity at 9:00 pm UTC on Friday, an hour after US President Donald Trump’s tariff threat.
By 9:20 pm UTC, most of the tokens bottomed, while market depth on tracked tokens fell to just $27,000, a 98% collapse, said YQ in a Monday X post.
“When the token price crashed, both MMs pulled everything from the books. 1.5 hours later, Blue turned their bots back on and returned to providing similar amounts of liquidity as before. Meanwhile, Turquoise is in the books but barely at all,” Coinwatch said in a Sunday X post.
Looking at another unidentified Binance-listed token worth over $5 billion, two out of three market makers “deserted their responsibility for 5 hours.”
Coinwatch also claimed to be in discussion with the two market makers to “accelerate their return into the order books.”
Metaplanet, a Japanese Bitcoin treasury company, saw its enterprise value fall below the value of its Bitcoin holdings and entered uncharted territory as one of the world’s biggest public holders of the asset.
Metaplanet’s market to Bitcoin NAV (mNAV) — a ratio between the company’s value and its Bitcoin (BTC) holdings — dropped below 1 on Tuesday, reaching 0.99 for the first time on record, according to official data.
The metric has dropped by more than seven points since mid-June, as the Metaplanet stock (3350) lost 75% of its value, falling from a peak of 1,895 Japanese yen ($13) per share to $3.20 on Tuesday, according to TradingView.
Metaplanet’s mNAV dropped below 1 after the company halted Bitcoin buying for the past two weeks, with its most recent BTC acquisition announced on Sept. 30.
Why is mNAV important?
Unlike traditional net asset value (NAV), mNAV is a ratio of enterprise value to Bitcoin NAV, designed to help investors gauge how the market values the company relative to its underlying BTC holdings, according to a mNAV page on BitcoinTreasuries.NET.
In mNAV, enterprise value is defined as the market capitalization of all Class A and Class B shares, total debt and the notional value of perpetual preferred shares, minus the company’s cash balance.
Market to Bitcoin NAV (mNAV) information. Source: BitcoinTreasuries.NET
When mNAV falls below 1, the company trades at a discount to the value of its Bitcoin holdings, potentially reflecting market concerns about debt, its operating model or other risks.
“It’s not a substitute for audited financials, but a high-level indicator of how much of the company’s valuation is driven by its BTC treasury vs. other factors,” BitcoinTreasuries.NET’s mNAV page reads.
Metaplanet holds $3.5 billion in Bitcoin
Metaplanet’s mNAV fell to 0.99 as the company held 30,823 BTC ($3.5 billion) on its balance sheet, following its most recent acquisition of 5,268 BTC on Sept. 30.
The mNAV drop came about a year after the Japanese hotel company made its first Bitcoin purchase on July 22, 2024, which triggered an immediate surge in its shares.
Metaplanet’s mNAV fell below 1 on Tuesday for the first time on record. Source: Metaplanet
That initial Bitcoin acquisition pushed Metaplanet’s mNAV to an all-time high of 22.59 by July 24, a level that has not been seen since.
Does Metaplanet’s mNAV drop signal a failure?
Market observers have expressed mixed reactions to Metaplanet’s enterprise value falling below the value of its Bitcoin holdings.
“Metaplanet trading below its Bitcoin NAV doesn’t signal failure: it reveals a market that still misunderstands Bitcoin treasury models,” Melanion Capital’s CEO Jad Comair told Cointelegraph.
“It’s the same kind of misunderstanding that led investors to short Tesla in its early years: they saw a car company instead of an energy revolution,” Comair said, adding:
“The same will happen here. Once markets grasp the reflexive power of Bitcoin treasuries, these discounts will flip into persistent premiums.”
Smartkarma’s equity analyst Mark Chadwick said that Metaplanet’s mNAV dynamics highlight an ongoing cooling of the Bitcoin treasury trend.
“I still see this crypto treasury stock decline as a popping of a bubble,” Chadwick said, adding that long-term Bitcoin bulls may see Metaplanet’s discount as an opportunity to buy.
Cointelegraph contacted Metaplanet for comment regarding its mNAV decline and potential implications, but had not received a response by publication.
Metaplanet is not the only Bitcoin treasury company experiencing a recent stock decline. Michael Saylor’s Strategy, the world’s largest public Bitcoin holder with 640,250 BTC on its books, has seen the value of its Common A stock drop about 30% since July.
Emerging markets are gaining fiscal dominance, with EM bonds benefiting from this trend. Learn about the factors driving this exceptionalism.
Emerging markets are solidifying their position as fiscal powerhouses, increasingly outperforming their developed counterparts. This trend is particularly evident in the bond sector, where Emerging Market (EM) bonds are reaping the benefits of this shift, according to VanEck.
Emerging Markets’ Fiscal Dominance
As emerging markets continue to display fiscal robustness, the appeal of their bonds has grown. The fiscal discipline and economic reforms undertaken by several emerging economies have enhanced investor confidence, leading to increased demand for EM bonds. This trend is supported by the resilience of these markets amidst global economic challenges.
Risks and Considerations
Investing in EM securities, however, carries higher risks compared to U.S. domestic investments. These may include exchange rate fluctuations, political instability, and less public information availability. Moreover, the securities markets in emerging economies can be more volatile and less liquid.
Benchmark Indices
The performance of EM bonds is often measured against benchmark indices such as the J.P. Morgan Government Bond Index-Emerging Markets (GBI-EM) and the J.P. Morgan Emerging Markets Bond Index (EMBI). These indices track local currency bonds and external debt instruments, respectively, providing a comprehensive view of the EM bond market’s health.
Investment Risks
Investors considering the VanEck Emerging Markets Bond ETF should be aware of various risks, including those related to active management, credit, currency strategies, and market volatility. The fund’s exposure to emerging market issuers also subjects it to additional risks such as political and economic instability and regulatory differences.
For more detailed information on the risks and potential benefits of investing in emerging markets, consider reviewing the available resources and disclosures provided by [VanEck](https://www.vaneck.com/us/en/blogs/emerging-markets-bonds/its-a-new-era-of-emerging-market-exceptionalism/).
Bitcoin and several altcoins have bounced off their Friday lows, but higher levels are likely to attract solid resistance from the bears.
BTC price and select altcoins could see rangebound action for a few days.
The US stock markets, Bitcoin (BTC) and altcoins are trying to claw their way back up from the deep drops seen on Friday following US President Donald Trump’s announcement of a 100% tariff on China.
The fall was brutal, resulting in a 24-hour liquidation of about $20 billion, according to CoinGlass data. Several highly leveraged traders, lacking proper risk control, would have faced massive losses.
That has flushed out some of the froth from the system, paving the way for stronger long-term investors to enter on dips. The rebound has begun, but a runaway rally may not start in a hurry.
Economist Timothy Peterson told Cointelegraph on Sunday that BTC was likely to enter a “cooling off period” for three to four weeks before resuming its uptrend, albeit “at a slower pace than before.”
Could BTC and altcoins build upon the recovery, or will higher levels attract sellers? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) turned down sharply and broke below the 20-day exponential moving average (6,652) on Friday, indicating profit-booking by traders.
The bulls purchased the dip to the 50-day simple moving average (SMA) (6,538) and have pushed the price to the 20-day exponential moving average (EMA). If the price turns down sharply from the 20-day EMA, the bears will again try to sink the index below the 50-day SMA. If they succeed, the correction could deepen to 6,350 and then to 6,200.
Instead, if the price closes above the 20-day EMA, it signals that the correction may be over. The index may then retest the all-time high of 6,764.
US Dollar Index price prediction
The US Dollar Index (DXY) closed above the moving averages on Tuesday, signaling that the bears are losing their grip.
The bulls pushed the price above the downtrend line on Thursday, but have failed to build upon the breakout. Sellers will likely attempt to push the price below the 20-day EMA (98.26), a critical short-term level to watch.
A strong bounce off the 20-day EMA increases the possibility of a break above 100.50. The index could then climb to the 102 level.
Conversely, a close below the moving averages suggests that the markets have rejected the break above the downtrend line. The index may then tumble to the 97 level and later to the solid support at 96.21.
Bitcoin price prediction
Sellers failed to complete a double-top pattern in BTC as they were unable to achieve a close below the $107,000 support level.
The Bitcoin price dipped to $102,000 on Friday, but quickly made a sharp recovery, indicating buying at lower levels. The BTC/USDT pair is expected to face selling at the 61.8% Fibonacci retracement level of $116,955.
However, if buyers overcome the resistance, the pair could rally to $121,020 and then to the all-time high of $126,199.
Conversely, if the price turns down sharply from the current level, it is likely to find support at $109,500 and then at $107,000. Buyers are expected to fiercely defend the $107,000 level because a break below it increases the risk of a collapse below $100,000.
Ether price prediction
Sellers pulled Ether (ETH) below the descending channel pattern on Friday and Saturday but were unable to sustain the lower levels.
Ether price climbed back into the channel on Sunday, indicating solid demand at lower levels. If the price turns down sharply from the moving averages, the bears will again strive to pull the ETH/USDT pair below the channel. If they succeed, it suggests that the pair may have topped out in the near term.
Contrary to this assumption, if the price breaks above the moving averages, it signals that the pair may remain inside the channel for a while longer. A break and close above the resistance line improves the prospects of the resumption of the uptrend.
BNB price prediction
BNB (BNB) has experienced significant volatility in the past few days. The bears pulled the price below the 20-day EMA ($1,145) on Friday, but the bulls reclaimed the level on Saturday.
That suggests positive sentiment, where the dips are considered a buying opportunity. The BNB price galloped to a new all-time high of $1,375 on Monday, but the bulls are struggling to sustain the higher levels. That indicates selling on rallies.
The bears will try to strengthen their position by pulling the price back below the 20-day EMA. If they manage to do that, it suggests a short-term top.
On the contrary, if the price rises and closes above $1,350, it signals that the bulls remain in control. The BNB/USDT pair may then rally to $1,609.
XRP price prediction
XRP (XRP) completed a bearish descending triangle setup on Friday and plunged well below the pattern target of $1.72.
A minor positive is that the XRP price made a solid recovery from the $1.25 low, signaling aggressive buying at lower levels. The relief rally is expected to reach the 20-day EMA ($2.77), where the bears are expected to step in. If the price turns down from the 20-day EMA, the XRP/USDT pair could slump to $2.20 and subsequently to $2.
The bulls will have to drive the price above the downtrend line to signal a comeback. Until then, the rallies are likely to be sold into.
Solana price prediction
Solana (SOL) fell below the ascending channel pattern on Friday, indicating that the bears are attempting to take charge.
The buyers did not give up and bought the dip to $168. That started a sharp recovery on Sunday, pushing the SOL/USDT pair to the breakdown level from the channel.
If the price turns down and breaks below $168, it signals that the sentiment has turned negative. That increases the likelihood of a drop to $155.
The bulls will be back in the game after they push the Solana price above the moving averages. The pair could then rally toward the overhead resistance of $260.
Dogecoin price prediction
Sellers pulled Dogecoin (DOGE) below the $0.14 support level on Friday but were unable to achieve a close below it.
Dogecoin price recovered sharply and re-entered the large $0.14 to $0.29 range. The bulls will try to push the price to the 20-day EMA ($0.23), which could attract sellers. If the price falls below the 20-day EMA, the DOGE/USDT pair could decline to $0.18 and then to $0.16.
The next trending move could begin after the price closes above $0.29 or below $0.14. Until then, the pair is likely to oscillate inside the range.
Cardano price prediction
Cardano (ADA) broke below the descending channel pattern on Friday and plunged to the panic low of $0.27.
Lower levels attracted strong buying by the bulls, who have pushed the price to the breakdown level from the channel. Sellers are expected to pose a strong challenge in the zone between the support line and the 20-day EMA ($0.78).
If the Cardano price turns down sharply from the resistance zone, it suggests that the bears remain in control. The ADA/USDT pair could then drop to $0.60 and eventually to $0.50.
This negative view will be invalidated in the near term if the price continues higher and breaks above the resistance line.
Hyperliquid price prediction
Hyperliquid (HYPE) completed a head-and-shoulders pattern on Friday and plunged to its target objective of $21.
Solid buying at lower levels has pushed the price back to the neckline of the H&S pattern, where the bears are expected to mount a strong defense. If the price turns down from the neckline, the sellers will try to sink the HYPE/USDT pair below the $35.50 support. If they can pull it off, the Hyperliquid price could descend to $30.50.
Buyers are likely to have other plans. They will try to push the price above the moving averages, suggesting that the corrective phase may be nearing completion.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin rose from $1 in 2011 to $1,000 in 2013, cementing itself as a global asset.
Cameron and Tyler Winklevoss bought Bitcoin early and founded Gemini in 2014 with a strong, compliance-first approach.
The Winklevoss twins call Bitcoin “gold 2.0,” highlighting its fixed supply, portability and resistance to inflation as key advantages over traditional gold.
The Winklevoss twins predict Bitcoin could hit $1 million, driven by ETF inflows, gold parity and nation-state adoption.
Bitcoin has been a financial mystery since its inception. While critics often dismissed it as a passing trend, its supporters saw it as a digital breakthrough. Once Bitcoin (BTC) took off in 2009, after Satoshi Nakamoto mined the genesis block on Jan. 3, there was no looking back.
February 2011: Bitcoin reaches parity with the US dollar at 1 BTC = $1.
June 2011: The price surges to $31 before crashing to $2, marking Bitcoin’s first major bubble.
November 2013: BTC crosses $1,000 for the first time, driven by global adoption.
End of 2013: Bitcoin firmly establishes itself as a global financial phenomenon.
Cameron and Tyler Winklevoss, co-founders of the Gemini crypto exchange and widely known as the Winklevoss twins in the crypto world, have long been vocal supporters of Bitcoin. They remain highly optimistic about its long-term potential.
This article explores how the Winklevoss twins have shaped the crypto landscape, why Bitcoin is called “gold 2.0,” their $1-million price prediction, what critics say about it and the potential impact of Gemini’s Bitcoin listing.
The Winklevoss twins and Gemini’s rise
Cameron and Tyler Winklevoss became early advocates for Bitcoin after their well-known Facebook legal dispute. They invested significantly in Bitcoin when the cryptocurrency was still largely unknown.
In 2014, with Bitcoin valued at around $380, the Winklevoss Twins launched Gemini, a New York-based cryptocurrency exchange designed to operate under US regulatory oversight. The company’s stock began trading at $37.01 per share, exceeding its initial public offering (IPO) price of $28.
At that price, the company successfully raised $425 million by selling approximately 15.2 million shares. The initial marketing for the IPO had set a price range of $24-$26 per share. By 2025, Gemini had come a long way and attained a significant milestone with its debut on the Nasdaq.
Beyond its trading platform, Gemini has steadily expanded its offerings to include a regulated spot exchange, institutional-grade custody solutions, its own stablecoin — the Gemini Dollar (GUSD) — and a crypto rewards credit card.
Bitcoin’s current state and historical context
The present state of Bitcoin reflects its exponential growth alongside a volatile nature. As of October 2025, Bitcoin was trading at around $124,000, a remarkable surge from about $430 in 2015, representing an increase of around 28,700%.
This significant rise emphasizes Bitcoin’s position as one of the most transformative assets over the past decade.
Bitcoin’s historical volatility, ranging from a few hundred dollars to six-figure valuations, highlights the dual nature of substantial gains and steep declines that define cryptocurrency markets.
Market sentiment remains strong, fueled by institutional demand, inflows into exchange-traded funds (ETF) and growing mainstream recognition.
While volatility continues to define Bitcoin, its steady upward trajectory reinforces its reputation as both a speculative powerhouse and a long-term store of value.
Why Bitcoin is “gold 2.0”
The concept of Bitcoin as “gold 2.0” has become a key part of its narrative, strongly advocated by the Winklevoss twins. They argue that Bitcoin’s fixed supply of 21 million coins, combined with its portability and divisibility, makes it a superior alternative to gold, not for everyday transactions, but as a reliable store of value.
Cameron Winklevoss explained that Bitcoin isn’t meant for everyday purchases like coffee; instead, it’s designed to preserve wealth against inflation, currency devaluation and financial risk.
This view positions Bitcoin as a safeguard in a financial landscape defined by rising uncertainty. Institutional adoption has strengthened this role, with custody solutions, exchange-traded funds (ETFs) and corporate balance sheet integrations giving investors regulated and secure access.
Rising ETF inflows show that more investors see Bitcoin as a reliable long-term store of value. As adoption grows, its image as “gold 2.0” will likely strengthen, bringing together modern technology and the age-old goal of protecting wealth.
The $1-million prediction: Rationale and feasibility
The Winklevoss twins have long argued that Bitcoin could eventually reach $1 million in value. Tyler Winklevoss explains this through his “10x argument,” noting that if Bitcoin captures a share of gold’s market, its price could multiply tenfold. He believes Bitcoin is still in its early phase, with considerable room for growth as it continues to challenge gold’s role as a store of value.
According to Virtue Market Research, the global gold market was valued at $291.68 billion in 2024 and is projected to grow to around $400 billion by 2030. Meanwhile, the World Gold Council reports that total gold demand in 2024 reached a record $382 billion across all demand categories.
As of Oct. 10, 2025, Bitcoin’s market capitalization stood at around $2.3 trillion. If adoption continues to grow, it could further close the gap with gold’s valuation. Several factors support this trend, including increasing regulatory clarity, strong institutional participation through ETFs and the rise of sovereign Bitcoin reserves. These reserves are led by early adopters such as El Salvador and the newly established US Strategic Bitcoin Reserve.
These elements could drive Bitcoin toward widespread acceptance and closer to the $1-million milestone. Although critics highlight its volatility and systemic risks, the long-term perspective relies on Bitcoin’s limited supply and its growing significance in global finance.
Did you know? When Satoshi Nakamoto mined Bitcoin’s first block in 2009, he embedded a message that read: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” It served both as a timestamp and a subtle critique of traditional finance, marking Bitcoin’s role as an alternative monetary system.
Counterarguments and risks
While the Winklevoss twins’ support for Bitcoin still inspires many crypto enthusiasts, skeptics raise valid concerns. Analysts point to increasing regulatory hurdles as a key challenge, noting that governments worldwide are tightening oversight of stablecoins, exchanges and custody services — a trend that may limit wider adoption.
Market volatility poses another challenge, with significant price fluctuations weakening Bitcoin’s standing as a reliable store of value. Even optimistic industry figures hold more cautious expectations.
Fundstrat’s Tom Lee predicts Bitcoin could reach around $200,000 in 2025, while BitMEX co-founder Arthur Hayes envisions a price near $250,000 within the same period. These projections, though positive, remain well below the Winklevoss outlook.
Concerns also arise from Gemini’s financial difficulties, with the exchange reporting losses of $159 million in 2024 and an additional $283 million in the first half of 2025, raising questions about its operational viability.
Did you know? Laszlo Hanyecz’s famous 2010 purchase of two pizzas for 10,000 BTC is now a cultural legend. At Bitcoin’s 2025 price of around $124,000, those pizzas would be worth over $1.2 billion, making them the most expensive pizzas in history.
Gemini’s public listing: Implications for Bitcoin’s future
Gemini’s public listing under the ticker GEMI marks a major milestone for both the exchange and the broader Bitcoin ecosystem. By becoming a publicly traded company, Gemini has improved its transparency, credibility and visibility within a regulated market. This move also helps address long-standing concerns about trust in the cryptocurrency industry.
This development is backed by Nasdaq’s $50-million investment and the integration of Gemini’s custody services, reflecting growing institutional interest in its operations. These collaborations suggest broader acceptance of digital assets within mainstream finance.
If Gemini performs well as a public company, it could contribute to higher trading activity, deeper institutional participation and improved market liquidity across the broader cryptocurrency ecosystem.
With Bitcoin as one of Gemini’s main traded assets, its performance could indirectly benefit from the exchange’s growth and rising market activity. Overall, GEMI’s listing highlights the ongoing maturity of the cryptocurrency industry and may help push Bitcoin closer to mainstream adoption.
Did you know? Tyler Winklevoss’s “10x argument” suggests that if Bitcoin matches gold’s $10 trillion market, it could reach $500,000 and potentially $1 million if adopted in sovereign reserves and global finance.
Broader context: Crypto’s ongoing evolution
The broader cryptocurrency landscape surrounding Gemini’s public listing reflects a sector rapidly gaining mainstream acceptance. Regulatory developments under the Trump administration, including clearer oversight frameworks and the approval of multiple Bitcoin ETFs, have strengthened the industry’s credibility and encouraged greater institutional participation.
Gemini’s public debut follows the path set by Coinbase’s 2021 listing and Bullish’s entry into public markets, both of which created important precedents for linking traditional finance with digital assets. Together, these listings show that cryptocurrency exchanges are evolving beyond niche platforms into increasingly regulated, global financial institutions.
Optimistic forecasts from prominent industry figures continue to strengthen Bitcoin’s long-term outlook.
Brian Armstrong, CEO of Coinbase, believes Bitcoin could reach $1 million or more by 2030, citing increasing adoption, macroeconomic shifts and institutional demand.
Jack Dorsey, former CEO of X and co-founder of Block (formerly Square), shares a similar view, predicting that Bitcoin could surpass $1 million by 2030, with room for further gains.
Cathie Wood, CEO of ARK Invest, remains even more bullish, forecasting that Bitcoin could climb to around $3.8 million by 2030, driven by institutional and corporate adoption.
Within this context, Gemini’s public listing is not an isolated occurrence but part of the broader, accelerating evolution of the cryptocurrency industry.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
