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Pudgy Penguins mobile game axed after losing millions of dollars

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Pudgy Penguins mobile game axed after losing millions of dollars

Pudgy Penguins CEO Lucas Netz claims his mobile game app Pudgy Party lost the NFT firm millions of dollars before it was shuttered last weekend.

The company announced the closure last Friday. It didn’t explain why Pudgy Party was shuttered, only that its web-based game, Pudgy World, is set to exceed Pudgy Party’s metrics. 

“[Pudgy Party] being wholly ours, has everything we need to make it the flagship gaming product of the Pudgy Penguins universe,” the company said.

However, in a follow-up meeting with Pudgy Penguin NFT holders, Netz revealed the key numbers leading to Pudgy Party’s closure. 

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Read more: Web3 collapse accelerates as eight games fail this year

According to X user and Pudgy Penguin holder @ChefJames_, Netz claimed that the game had lost the firm millions of dollars and that if it were to continue, it would cost it another $2.5 million. 

Netz added that the game experienced a few short months of popularity before its player count sharply dropped to somewhere between 200 and 300 active users.

Pudgy Party promised users more money than a minimum wage job

Pudgy Party was a third-person platformer that drew inspiration from reality show obstacle courses such as Total Wipeout, and was similar to the game Fall Guys, which itself saw player count highs of 172,026 on Steam. 

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Developed by Mythical Games and launched in August 2025, the game’s monetization system involved selling skins of the game’s penguin character, which buyers could trade.  

Some of these listed skins were on offer for up to $100,000 despite possessing an actual value (floor price) of just 50 cents. During the game’s initial launch, some users were paying above $1,000 for skins, while others supposedly spent up to $5,000. 

At one point, Netz claimed that the skin system would allow users to make more money than a minimum wage job if they just played the game full time. 

Read more: Pudgy Penguins removes ‘racist’ post after Manchester City complaint

As for what will happen to the skins, @ChefJames_ noted that during the Pudgy Penguin meeting, Netz claimed that there will be a portal put in place for rewards and that skins purchased for Pudgy Party will be transferable to Pudgy World.

More Pudgy Penguin closures to come?

Things could get worse for Pudgy Penguins with the possibility of more closures and cutbacks to come. Indeed, Netz warned that across the coming two weeks, “All Band-Aids will be ripped.”

Some users speculated that Abstact, the blockchain co-founded by Netz, will be on the chopping block next, but not everyone agreed. 

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During the meeting, Netz also claimed that Pudgy Party didn’t match the brand’s DNA, which is pushing for a social game, aka Pudgy World.  

Pudgy World was launched in March 2026 and is another attempt from the firm to create a web3 game. According to Netz, Pudgy World dwarfed Pudgy Party’s player count, with daily player counts up to 20,000. 

This game appears inspired by the once popular web game Club Penguin and attempts to recreate the same social experience, albeit with a 3D third-person perspective.

Like Pudgy Party, it also features an ecosystem based around buying and selling cosmetics. 

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Read more: Pudgy Penguins bets $500K on Vegas Sphere — PENGU still down 85%

Web3 games have been struggling lately, with a growing number shutting down due to low player counts and insufficient revenues.

Among these is Uncharted, the developer behind crypto-based game Fishing Frenzy, which announced that the two were shutting down today.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Top Bitcoin (BTC) Price Predictions After the US-Iran Peace Rally

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The United States of America and Iran shook hands on a peace deal, which is about to be officially signed on June 19. The financial and crypto markets reacted positively to the news, with Bitcoin (BTC) spiking to a multi-week high of just over $66,000.

The big question now is whether the leading digital asset can sustain its upward momentum or is gearing up for another pullback.

The Bears Remain in Charge?

BTC’s rebound has drawn significant attention, with multiple analysts speculating on the asset’s next potential move. X user Jelle described the pump as a “big victory” for the bulls, predicting that holding above the $63,000-$64,000 range is “looking rather good for relief.”

Ali Martinez noted that the price has finally broken through the $64,360 resistance level and expects a possible ascent to $67,630 “if momentum holds.”

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Nonetheless, many others believe the peace news has triggered only a temporary revival, arguing that the cycle’s floor has yet to be formed. X user symbiote sees the creation of a final bottom at around $50,000, labeling that zone as a buying opportunity.

Niels believes the asset’s valuation could rise to $70,000-$72,000 in the short term, but the 4-year cycle suggests the real pain for the bulls could occur by Q3 this year. “Once BTC makes another lower high, it’ll reverse towards $55K for the cycle bottom,” they added.

Some key factors, including the recent whale behavior, reinforce the bearish outlook. As CryptoPotato reported, large investors have reduced their total holdings by over 70,000 BTC in the past month, signaling weakening confidence in the asset and perhaps preparing for a renewed correction. Moreover, their actions could influence sentiment and lead some smaller players to exit the ecosystem.

Waiting for These Events

Another popular analyst who touched upon BTC’s latest price movement and gave an interesting prediction for the near future is Ted. The X user outlined the general optimism in the space following the US-Iran peace deal and forecast that staying above $65,000 could lead to a move toward $70,000. As of the moment, though, he doesn’t see “enough real strength to confirm that scenario.”

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Ted claimed that BTC’s price will depend heavily on major economic events this week, including the Federal Reserve’s interest rate decision and the possibility of further rate hikes by the Bank of Japan.

The FOMC meeting on June 17 will be the debut of Chair Kevin Warsh, and the expectations are that the benchmark will remain unchanged in the 3.5%-3.75% range. However, investors will closely monitor his speech for any hawkish or dovish signals that might hint at how the central bank plans to guide policy in the months ahead, potentially leading to heightened volatility across the entire crypto market.

The post Top Bitcoin (BTC) Price Predictions After the US-Iran Peace Rally appeared first on CryptoPotato.

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Pudgy Penguins Ends Pudgy Party Mobile Game, Shifts Focus

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Crypto Breaking News

NFT brand Pudgy Penguins is winding down its mobile game Pudgy Party and pausing any further development, according to an announcement from the project’s team on X. The studio says it will redirect its gaming efforts toward Pudgy World, a browser-based experience it frames as the “flagship” game within the Pudgy Penguins ecosystem.

The shift comes after Pudgy Party launched in August 2025. The team said the game exceeded 500,000 downloads on Google Play, with total downloads topping 1 million across platforms. By consolidating its roadmap behind Pudgy World, Pudgy Penguins is signaling that it wants a single gaming product designed for broader reach and longer-term scalability.

Key takeaways

  • Pudgy Party is being sunset: the team says it will wind down operations and halt further development.
  • Pudgy Penguins is consolidating gaming around Pudgy World, described as the ecosystem’s flagship browser experience.
  • Pudgy Party hit 500,000+ downloads on Google Play and more than 1 million total downloads, despite the pivot.
  • The move reflects ongoing difficulty in Web3 gaming: another project, Fishing Frenzy, is also shutting down.

Pudgy Penguins exits one mobile game to focus on a “flagship”

In its X post, the Pudgy Party team described the decision as difficult, but argued that Pudgy World holds “greater potential for scalability” and is more likely to bring new users into the Pudgy Penguins brand.

That reasoning matters for investors and players because it points to a core challenge in crypto-gaming: building a product that can sustain a player base while integrating with Web3 monetization and brand ecosystems. A mobile launch can generate early traction—as Pudgy Party did—but the team’s decision suggests that user acquisition and retention may not have translated into a durable long-term plan.

Pudgy Penguins has positioned itself beyond NFTs, pursuing initiatives across toys, gaming, licensing, and broader entertainment. The gaming consolidation therefore appears less like an abandonment of the category and more like a strategic attempt to concentrate development resources behind one experience that can serve as a stable on-ramp for the brand.

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What Pudgy Party’s download numbers imply—and what they don’t

Pudgy Party’s stated reach—500,000+ downloads on Google Play and over 1 million total—signals that there was consumer interest. But a pivot after those milestones suggests that download counts alone may not be sufficient to justify ongoing development.

For readers watching Web3 gaming, the important distinction is between “top-of-funnel” adoption and “business model” sustainability. Mobile downloads can be driven by marketing, brand recognition, or viral momentum. Turning that into long-term engagement and a viable revenue structure is typically harder—especially for projects that must balance Web2-style game economics with token incentives, on-chain components, or crypto-native distribution.

Pudgy Penguins’ rationale explicitly mentions scalability and onboarding, which hints that the team believes the browser-based format or ecosystem design of Pudgy World may better support ongoing growth.

Web3 gaming’s recurring problem: product-market-business fit

Pudgy Party’s wind-down arrives during a broader wave of uncertainty in Web3 gaming. Earlier, Fishing Frenzy and its developer, Uncharted, announced they would cease operations after concluding they couldn’t establish a sustainable crypto-gaming thesis.

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In an X post shared on Monday, Fishing Frenzy said it was “unable to prove our thesis on crypto gaming” and “could not find product-market-business fit.” The team said it spent the previous year testing multiple approaches and targeting different audiences without finding a path that gave them confidence to continue.

This parallel is significant: it suggests that even projects that experiment actively and iterate for extended periods may struggle to find a stable formula that combines gameplay appeal, user retention, and a monetization model that can withstand market and platform realities.

How Fishing Frenzy is shutting down—and what it’s doing with USDC and tokens

Fishing Frenzy said it will shut down its servers on June 25 at 2:00 a.m. UTC. The project also made notable changes to its token and sales mechanics: it stopped selling USDC packages and adjusted the FISH token so it is spend-only and untradable.

The team said remaining USDC in the FISH/USDC liquidity pool would be redistributed to community members and stakers. By outlining a specific redistribution plan rather than a vague “we’ll figure it out,” the project is trying to manage expectations as it exits.

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These details matter because they show the practical constraints that Web3 gaming projects face when they can’t scale their business: token utility can be constrained, markets can lose liquidity, and teams may ultimately need to wind down infrastructure while addressing on-chain balances and user expectations.

NFT market backdrop: capitalization rises, but the sector is still far from prior highs

Alongside the gaming-specific developments, NFT market conditions have been fluctuating. CoinGecko data cited in the original reporting shows total NFT market capitalization climbed to nearly $1.5 billion on Monday, up from more than $1.3 billion on Friday. Still, that level remains dramatically below the sector’s 2022 peak of over $17 billion.

For builders and brand-led NFT ecosystems like Pudgy Penguins, this environment can increase pressure to demonstrate real utility. When the broader market is well below prior highs, it often becomes harder to finance development through speculative demand alone—making it more likely that teams will prune or restructure product lines to focus on what can be scaled efficiently.

At the same time, modest rebounds in market capitalization can give projects breathing room, but the trajectory of Web3 gaming may depend less on NFT prices day-to-day and more on whether games can stand alone as compelling user experiences while delivering coherent incentives.

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Going forward, the key question is whether Pudgy World can deliver the scalability and new-user onboarding that Pudgy Penguins is targeting, especially in a market where other crypto games have struggled to prove long-term business fit. Readers should watch for updates on Pudgy World’s rollout and for any further clarification from Pudgy Penguins on how gaming will tie back into the broader brand beyond NFTs.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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NyesteCasino.com Reports: iGaming Industry Navigates Dual Pressures of Regulation and Growth

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[PRESS RELEASE – Norwich, United Kingdom, June 15th, 2026]

NyesteCasino.com, a leading iGaming analysis resource, released its latest industry overview, highlighting a week defined by intensifying regulatory scrutiny alongside continued global market expansion.

From U.S. Senate hearings and a widening circuit split to the localisation of crypto casinos and a surge in World Cup betting activity, iGaming operators have been balancing risk management with aggressive growth strategies.

Over the past week, the global iGaming sector has faced two powerful and often conflicting forces. Regulators across the United States, Europe, Southeast Asia, and South America have tightened rules around prediction markets, sweepstakes casinos, and credit card usage for deposits. At the same time, online gambling platforms, content providers, and policy advisors have accelerated product innovation and executed timely, region-specific sports marketing campaigns.

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According to NyesteCasino.com’s team, these developments signal a broader structural transition across the industry—one in which compliance agility is rapidly becoming as critical to success as product quality. Despite increasing regulatory headwinds, the pace of innovation and market demand continues to point toward sustained sector growth.

Prediction Markets: Courtrooms, Congress, and Cross-Border Bans

The week started with a long-awaited US Senate Commerce Subcommittee gathering. The hearing named “No Sure Bets” took place on May 20 under Chair Marsha Blackburn, and Blackburn indicated more sessions were to come. The debate between American Gaming Association CEO Bill Miller and former Congressman Patrick McHenry quickly turned into a clash over the future of prediction markets. While Miller named the sports event contracts as backdoor betting operations bypassing the state licences, tax regulations, and integrity safeguards, McHenry talked on behalf of the Coalition for Prediction Markets and opposed him, stating that the current CFTC supervision is working perfectly.

On 22 May, a panel from the Ninth Circuit rejected the stay requests filed by both Kalshi and Polymarket, refusing to halt state enforcement proceedings in Nevada and Washington, which complicated the legal situation even more. The court ruled that a federal preemption defence under the Commodity Exchange Act cannot, on its own, establish federal jurisdiction. The ongoing disagreement in the appeals court of New Jersey, which had previously upheld a Kalshi injunction, has gained strength with this decision. Moreover, the process leading to a Supreme Court review of state jurisdiction over event contracts has accelerated even more.

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Indonesia’s Ministry of Communication and Digital Affairs categorised Polymarket as an online gambling site, disregarding its crypto-based structure, and has requested a national ban on the market platform on May 25. The reason for this request was a viral contract regarding whether President Prabowo Subianto would resign before the end of his term in October 2029. The contract generated a trading volume of approximately $46,000. The number of jurisdictions where Polymarket is inaccessible is growing, exceeding 33 around the world now, including India, Brazil, and Singapore, among other new blockers.

State-Level Regulations: An Anti-Sweepstakes Bill from Tennessee

There have also been state-level restrictions in Tennessee on online gambling law. During the same week, Governor Bill Lee signed two vital bills. Senate Bill 2136 made Tennessee the ninth US state banning sweepstake casinos and dual-currency systems completely, which grants the attorney general the power to enforce it. And according to the SB 1992, the second bill signed by the governor, anyone who deliberately influences the outcome of an event whilst holding a prediction market contract will be charged with a Class E felony. It is expected that these bills will guide other state legislatures who are planning similar regulations at the moment.

Europe and Brazil: Tax Proposals, Ad Restrictions, and Credit Bans

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The European Parliament held a plenary debate on May 20 on a proposed EU-level gambling levy. Budget Commissioner Piotr Serafin confirmed the Commission is actively assessing the option alongside digital services and crypto-asset levies as part of the next Multiannual Financial Framework. Proponent MEP Victor Negrescu estimated the levy could raise between €2 and €4 billion annually for education, youth, and addiction prevention programmes. Opponents from EPP and ECR blocs raised concerns over subsidiarity, competitiveness, and national tax sovereignty, with any operational package targeted for January 2028.

Belgium’s Kansspelcommissie and the Netherlands Gambling Authority separately issued formal World Cup advertising warnings to licensed operators ahead of the June 11 to July 19 FIFA tournament. France’s ANJ flagged a year-on-year rise of more than 25% in operator marketing budgets as the tournament approaches. Meanwhile, Brazil formalised rules on May 25 to close off Pix Crédito as a deposit method on regulated betting platforms, a move prompted in part by a Folha de São Paulo audit revealing that major banks including Bradesco and Banco do Brasil, were still processing credit transfers into betting accounts as recently as mid-May.

Editorial Perspective

“What this week makes clear is that the iGaming sector is entering a phase where regulatory IQ is as strategically important as product development,” said the editorial team at NyesteCasino.com. “The prediction markets debate alone spans courtrooms, congressional hearings, and international bans and it is far from resolved. Operators who can track and adapt to this multi-jurisdictional complexity while still executing on World Cup campaigns and localisation strategies will be best positioned for the second half of 2026.”

About NyesteCasino.com

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NyesteCasino.com is a leading independent iGaming review and analysis platform. The editorial team tracks regulatory developments, operator news, and product releases across global markets to help players and industry professionals navigate the evolving online casino landscape. Users can learn more at nyestecasino.com.

The post NyesteCasino.com Reports: iGaming Industry Navigates Dual Pressures of Regulation and Growth appeared first on CryptoPotato.

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Tom Lee’s Bitmine (BMNR) buys 76,881 ETH as preferred equity sale fuels expansion

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Bitmine buys 26K ether (ETH) after Tom Lee said to slow down accumulation

BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury company, continued its purchase streak after raising fresh capital through a preferred stock sale.

The firm acquired 76,881 ether (ETH) over the past week, worth roughly $136 million based on ETH’s current price, lifting Bitmine’s treasury to 5.62 million ETH.

The company also held 204 bitcoin, $502 million in cash and marketable securities and stakes in Beast Industries and Eightco Holdings, bringing total crypto, cash and investment holdings to $10.4 billion.

The latest purchase was smaller than the previous week’s 126,971 ETH acquisition, its largest weekly haul of 2026. Still, it suggests the company remains committed to accumulating ETH despite Lee’s comments last month about slowing purchases as the firm neared its goal of owning 5% of Ethereum’s supply.

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“We are maintaining a somewhat elevated pace of buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals,” Bitmine Chairman Thomas Lee said.

Bitmine’s preferred equity debut

The purchase comes on the heels of raising $274 million by issuing preferred equity that offers 9.5% annualized dividend. The move resembles financing tools pioneered by bitcoin treasury firm Strategy (MSTR), which have increasingly turned to preferred equity and other yield-bearing securities to fund crypto purchases.

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Sarvam AI Hits Record Series B Valuation as Sovereign AI Gains Urgency

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AI Job Displacement Concerns Pushes US Senators to Demand Action

Indian AI startup Sarvam AI has reached a reported valuation of $1.5 billion after raising $234 million in the first close of its Series B round, making it the highest reported Series B valuation in India’s startup history.

The round, led by HCLTech, is expected to reach about $300 million in total. The valuation puts Sarvam at the centre of India’s push to build domestic AI infrastructure at a time when governments are growing more cautious about dependence on foreign models.

Sarvam builds large language models, speech tools, translation systems, and AI agents designed for Indian languages and local use cases. Its focus is on voice-first AI, public services, enterprise tools, and regional-language access.

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The Sovereign AI Narrative

That strategy fits the broader idea of sovereign AI. In simple terms, sovereign AI means a country wants more control over the models, data, computing systems, and AI services that power its economy and government.

The concept has gained new relevance after the recent Anthropic Fable 5 and Mythos 5 controversy in the US. 

Anthropic said it had to disable the models for all customers after US restrictions barred access for foreign nationals, including some foreign-national employees.

The case showed how quickly access to advanced AI systems can change when national security, export controls, or policy pressure enter the picture. For countries such as India, that risk strengthens the case for building domestic alternatives.

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However, sovereign AI does not mean full independence. India still depends on global chips, cloud providers, and open-source research. Sarvam’s bet is more practical: build AI systems that work for India’s languages, rules, institutions, and scale.

That is why the funding round matters beyond valuation. It signals that investors and policymakers now see AI infrastructure as a strategic asset, rather than just another software market.

The post Sarvam AI Hits Record Series B Valuation as Sovereign AI Gains Urgency appeared first on BeInCrypto.

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Hyperliquid loses Anthropic, OpenAI markets as creator shuts down project

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Polymarket trader exploits UFC blunder, turns $676 into $67,000 in under a minute

A key player on the fast-growing derivatives exchange Hyperliquid’s private-company trading is shutting down, pointing to consolidation in one of the industry’s hottest new markets.

Ventuals, the project behind perpetual futures tied to OpenAI and Anthropic valuations, said Monday it is winding down and that its team will join another project building within the Hyperliquid ecosystem.

The move has halted trading in the OPENAI and ANTHROPIC markets, with all positions settled automatically. Other markets will be shutting down in the coming days. The team said it generated more than $650 million in trading volume and attracted over 500,000 HYPE in community support during its run.

The shutdown comes as crypto-native trading venues increasingly push beyond digital assets into markets traditionally associated with Wall Street. Traders can now use perpetual futures to speculate on commodities, equities and private-company valuations through blockchain-based markets.

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Hyperliquid has become one of the leading venues for that trend. The exchange processed roughly $234 billion in perpetual futures volume over the past month, according to DefiLlama data.

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Standard Chartered Forecasts 37x Surge For This Altcoin in $2.7 Trillion DeFi Bet

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Uniswap Price Performance

Standard Chartered has initiated coverage on Uniswap (UNI) with a $100 price forecast by the end of 2030, a roughly 40-fold jump from current levels. The bank ties the call to a projected 37-fold rise in tokenized assets entering decentralized finance (DeFi).

The forecast frames Uniswap as one of the clearest token bets on a broader shift, the convergence of traditional finance and blockchain rails as real-world assets, stablecoins, and crypto-native tokens migrate on-chain.

The $2.7 Trillion DeFi Bet

Geoffrey Kendrick, head of digital assets research at Standard Chartered, laid out the thesis in a Monday note.

He expects tokenized assets on-chain to reach $4 trillion by the end of 2028, up from $340 billion today. The bank sees the share of those assets active in DeFi climbing to 30% by 2030, from about 3.5% now.

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By its math, that shift implies $2.7 trillion locked in DeFi, a 37-fold increase from today.

Standard Chartered argues the same growth would leave Uniswap liquidity pools with 37 times more on-chain assets to trade.

“I estimate that the amount of tokenized assets active in DeFi will 37x by the end of 2030” Kendrick wrote in the note.

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Why the Bank Picked Uniswap

Standard Chartered cited Uniswap’s role as an all-purpose infrastructure layer, its brand recognition, and its dominance in highly correlated pair trading.

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As real-world assets move on-chain, pools can match naturally correlated tokens in ways that the bank says traditional firms cannot build on their own.

That argument is already being tested. Tokenized versions of stocks, including SpaceX, Apple, and Tesla, went live on Uniswap last week, part of more than $9.1 billion swapped in real-world asset pools across over 2.6 million transactions.

The institutional pull is visible higher up, too.

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In February, BlackRock’s tokenized BUIDL fund became tradable through UniswapX, and the asset manager took a strategic stake in the Uniswap ecosystem.

The protocol’s recent UNI token burn proposal and its Unichain layer-2 network aim to tie protocol fees more directly to token value.

“If Uniswap can commercialize enough and create significant enough TradFi partnerships to scale, its market cap-to-transaction fees multiple is likely to increase, narrowing the gap with Coinbase,” the Standard Chartered executive added.

Price Still Lags the Forecast

For now, the token trades well below the bank’s roadmap. UNI’s market price sat near $2.71 on Monday, up about 8% on the day but down roughly 62% over the past year, with a market value near $1.68 billion.

Uniswap Price Performance
Uniswap Price Performance. Source: BeInCrypto

That price trails the bank’s 2026 target of $6.50. Standard Chartered’s ladder then climbs to $20 in 2027, $40 in 2028, $65 in 2029, and $100 in 2030, a path it expects to outpace both Bitcoin (BTC) and Ethereum (ETH).

The UNI token price following protocol growth remains the open question.

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Regulators only dropped a Uniswap probe last year, and longer-term UNI price forecasts still hinge on how quickly tokenized assets actually reach DeFi.

The post Standard Chartered Forecasts 37x Surge For This Altcoin in $2.7 Trillion DeFi Bet appeared first on BeInCrypto.

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Bitmine Adds $135M in ETH, Closing In on 5% of Ethereum Supply

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The Tom Lee-chaired former bitcoin miner turned Ethereum treasury company continues to increase its ETH holdings by purchasing over $135 million worth of the asset.

Its total holdings have skyrocketed to 5,620,754 ETH, currently valued at around $10 billion, given the asset’s price today. This means that the company, whose average entry price is around $3,450, still sits on a massive unrealized loss of well over $9 billion.

ETH Holdings Keep Rising

The press release shared from the company earlier today indicated that its total stash has grown to $10.4 billion, albeit crypto prices were slightly lower at the time. Aside from the massive ETH fortune, Bitmine owns 204 BTC, $502 million in cash and marketable securities, as well as equity stakes in Beast Industries and Eightco Holdings valued at a combined $268 million.

Tom Lee described the $135 million purchase as an “elevated pace” of buying the asset despite its most recent market pullback that sent it to $1,500 at the start of the month. The company is now 93% of the way toward owning 5% of Ethereum’s total supply.

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Nevertheless, Bitmine continues to be a major ETH supporter, noting that it doesn’t believe the current market downturn rightfully reflects its position in the market.

“The Series A Preferred Stock offering is good balance sheet diversification for Bitmine. The Company’s current projected annualized staking rewards of approximately $219 million provide recurring cash flow to support the dividends related to the Series A Preferred shares,” stated Lee.

Bitmine’s Staking Venture

He added that Bitmine has become a major participant in Ethereum staking, as 4.72 million ETH tokens, or more than 83% of its total holdings, have been staked through its validator operations.

Using current staking yields, the company projects annualized staking revenue of approximately $226 million. The firm estimated that if it deploys all of its ETH through staking, its annual rewards could rise to about $270 million.

Bitmine remains the second-largest cryptocurrency holder with its $10 billion worth of ETH and 204 BTC. It trails only Strategy, which, despite a minor sale completed by the end of May, has continued its substantial accumulation with another $100 million BTC purchase announced earlier today. It now owns approximately $56 billion worth of bitcoin.

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Sam Altman ChatGPT Predicts Explosive XRP Price by End of 2030

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Sam Altman ChatGPT Predicts Explosive XRP Price by End of 2030

There is a line in this prediction that cuts through the noise better than any price target. The biggest mistake investors make is assuming XRP must either go to $100 plus or fail completely. Sam Altman’s ChatGPT is essentially asking the XRP community to grow up, to stop swinging between cult and obituary, and to start thinking about this asset the way you would any infrastructure play with a long runway ahead.

The base case for end of 2030 is $10 to $18 from $1.24 today, roughly an 8x to 14x over 4 years, which sounds modest until you frame it correctly.

Source: ChatGPT AI XRP Price Prediction

That is the scenario where Ripple just keeps doing what it is already doing, expanding institutional payment rails, attracting steady capital into XRP-related financial products, and riding the regulatory clarity that has been slowly materializing.

No moonshot assumptions required, just execution and adoption continuing at the current pace.

The bull case at $25 to $40 is where the story gets genuinely interesting. That range implies XRP has crossed the threshold from promising network to critical global infrastructure, embedded into cross-border settlement, tokenization flows, and liquidity management at a scale that commands a serious premium.

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It also assumes the broader crypto market is several times larger than today, which is not a stretch for a 4-year horizon if institutional adoption keeps compounding.

The bear case at $2 to $5 is the scenario in which stablecoins, CBDCs, or competing payment networks eat XRP’s lunch despite its brand strength, capturing the market it is targeting before it can fully claim it.

Xrp (XRP)
24h7d30d1yAll time

XRP Price Prediction: The Weekly Chart Has A Story To Tell Too

Pull up the weekly, and the first thing that hits you is the sheer scale of what happened in late 2024. XRP launched from under $0.70 and ran to $3.84 in a matter of weeks, one of the most violent altcoin moves in recent memory.

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What followed was an equally persistent grind back down, and the weekly chart now shows price at $1.24, sitting just above the pre-breakout consolidation zone that held for most of 2023 and early 2024.

That context matters for the 2030 thesis. XRP has already proven it can reprice dramatically when conditions align.

The question ChatGPT is really asking is whether the next reprice is driven by the same speculative frenzy or by something more durable underneath.

The $1.00 to $1.30 region is now the critical zone, a range that served as resistance for years before the 2024 breakout and now sits as long-term support.

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Lose it on a weekly close, and the setup gets complicated. Hold it, and you have a base that serious infrastructure tends to build from.

The RSI on the weekly is at 36.02 with the signal line just below at 35.11, nearly flat against each other, with the gap barely over 1 point.

That tight convergence after a long drift lower tells you momentum has stopped declining but has not yet found a reason to accelerate upward. It is the RSI equivalent of a held breath, compressed and waiting for a catalyst.

Given that ChatGPT’s whole argument rests on measurable adoption and institutional flows rather than hype, that compressed momentum makes sense. The chart is not pricing in $10 yet. It is simply stopping the bleeding and asking what comes next.

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Here is What ChatGPT AI Predicts For LiquidChain Near Future, Could be Very Bullish

Large-cap traders are not positioning. They are standing in line.

Bitcoin, Ethereum, and XRP have been pressing against the same ceilings for weeks. The catalyst is always one print away. The institutional inflows are always next quarter. Every breakout depends on a decision made by someone else.

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Hyperliquid (HYPE) Soars 12% in a Day: More Gains Ahead or a Bull Trap?

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Nearly all of the top 100 cryptocurrencies have recorded substantial gains over the last 24 hours, boosted by news of the peace deal between the United States and Iran.

Hyperliquid (HYPE) stands out among the top performers, with its price spiking by 12%. Some analysts believe it may jump even more in the following days, while others cautioned that the bears may soon regain control.

Going Higher?

In early June (when the broader crypto market was bleeding heavily), HYPE exploded to an all-time high of around $75. However, the historic peak was short-lived, and the price headed south to around $53 in the following days, influenced by bearish factors such as Arthur Hayes’s decision to dump all his positions in the asset.

Currently, though, the asset trades at around $68, representing a 28% increase from the local bottom. Moreover, its market capitalization has surged past $15 billion, and thus HYPE re-entered crypto’s elite top 10 club after surpassing the OG meme coin Dogecoin (DOGE).

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According to some analysts, the recent pump to almost $70 simply marks the early stages of a much larger upward move. X user Cozy the Caller thinks that HYPE “just goes straight to $100 from here.”

KNIGHT and Owl Prints were also optimistic. The former projected a rise above $110 in the coming months, while the latter argued that reclaiming $64.60 (which, for the moment, seems to be the case) “opens up a clean run toward previous cycle peaks.”

The Bearish Outlook

Last week, many market observers spotted the formation of a head-and-shoulders pattern on HYPE’s chart, which has historically been a precursor to a pullback.

Several hours ago, Ali Martinez opined that the recent price action has seemingly shaped the right shoulder of that structure, labeling $65 as the key resistance level. He also warned that losing $54 could trigger a major correction down to $40.

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HYPE’s current Relative Strength Index (RSI) raises the possibility of a sudden price drop. The technical analysis tool runs from 0 to 100, and ratios above 70 signal that the asset is overbought and due for a potential pullback. As of this writing, it stands at 93, showing that the valuation has surged in an unhealthy manner.

HYPE RSI
HYPE RSI, Source: RSI Hunter

The next bearish element worth mentioning is HYPE’s exchange netflow. Over the past three days, investors have moved some of their holdings from self-custody to centralized platforms, with inflows outpacing inflows. This increases immediate selling pressure.

HYPE Exchange Netflow
HYPE Exchange Netflow, Source: CoinGlass

The post Hyperliquid (HYPE) Soars 12% in a Day: More Gains Ahead or a Bull Trap? appeared first on CryptoPotato.

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