VanEck Sees Bitcoin Reach $1M on ‘Mega Adoption’ Trend

Sigel‘s take joins several similar views on Bitcoin’s price trajectory in the coming years, including predictions from Bernstein, Bitwise chief investment officer Matt Hougan, Jan3 CEO Samson Mow and Twitter co-founder Jack Dorsey, among others.  Cathie Wood‘s ARK Invest’s 2030 Bitcoin price targets range from about $300,000 in a bear case to $710,000 in a base case and $1.5 million in a bull case, according to its Big Ideas 2025 model.  Some investors are more skeptical about Bitcoins adoption, though. Ray Dalio has said Bitcoin could act as a store of value but questioned its ability to scale into a global reserve asset amid regulatory and sovereign currency risks. Others, including gold advocate Peter Schiff, have argued Bitcoin lacks intrinsic value and is unlikely to displace traditional safe-haven assets like gold, casting doubt on seven-figure price forecasts.  Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraphs Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

05-08

Gold holds steady below $4,700 as traders eye US jobs report, potential US-Iran peace deal

Finance  Gold holds steady below $4,700 as traders eye US jobs report, potential US-Iran peace deal  Gold price (XAU/USD) holds steady near $4,685 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the key US employment data for April, which is due later in the day.  Economists expect a gain of 62,000 jobs for April, while the Unemployment Rate is projected to remain steady at 4.3%. This report might dictate the Federal Reserves (Fed) next move regarding interest rates. Any signs of improvement in the US labor market could lift the US Dollar (USD) and weigh on the USD-denominated commodity price in the near term.  On the other hand, optimism over a US-Iran peace deal has led to a sharp drop in oil prices and eased concerns over inflation. The US President Donald Trump administration has been waiting for Iran to respond to its proposal to reopen the Strait of Hormuz and end the war.  Iran‘s leaders haven’t indicated whether they‘ll accept the terms of the deal, though they’ve previously shown little sign of yielding on their nuclear program and accepting a moratorium on enriching uranium.

05-08

US military attacks Iranian sites but says it does not seek escalation

Finance  US military attacks Iranian sites but says it does not seek escalation  US Central Command said Thursday that US forces targeted Iranian military facilities responsible for launching attacks against warships transiting the Strait of Hormuz, CNN reported.  The military stated that US forces do “not seek escalation.” Meanwhile, US President Donald Trump said on Truth Social that US forces destroyed Iranian attackers and warned, “We‘ll knock them out a lot harder and a lot more violently” if Iran doesn’t sign a deal soon.  According to a Centcom statement, Irans attack on three US warships involved “multiple missiles, drones and small boats,” adding that “no US assets were struck.”  Market reaction  At the time of writing, the West Texas Intermediate (WTI) is down 0.65% on the day at $93.65.

05-08

Eric Trump’s Miner American Bitcoin Tops 7,300 BTC

Bitcoin  Eric Trumps Miner American Bitcoin Tops 7,300 BTCAmerican Bitcoin increased its Bitcoin holdings to more than 7,300 BTC valued at about $592 million.The company produced 817 Bitcoin in Q1 2026, marking its strongest quarterly output to date.American Bitcoin also purchased around 803 Bitcoin during the quarter to expand reserves.Total Bitcoin reserves grew by roughly 1,600 BTC in a single quarter.Satoshis per share rose to about 663, reflecting a 20% increase.  American Bitcoin Corp. expanded its Bitcoin reserves beyond 7,300 BTC after a record production quarter. The Nasdaq-listed miner valued its holdings at about $592 million. Co-founder Eric Trump confirmed the figures and said the company maintained its accumulation strategy.  American Bitcoin Expands Holdings and Production  American Bitcoin began building its Bitcoin position in mid-2025 and accelerated purchases in early 2026. The company now ranks as the 16th largest corporate Bitcoin holder. Eric Trump said, “Our Bitcoin accumulation strategy remained intact despite a challenging market environment.”  During Q1 2026, the company produced about 817 Bitcoin, its strongest quarterly output. It also acquired around 803 Bitcoin through targeted purchases. Total reserves grew by roughly 1,600 Bitcoin during the quarter.  The company reported that Bitcoin price declined about 22% quarter over quarter. Despite weaker prices, American Bitcoin continued

05-08

Algorand DeFi Tops $95M TVL as Analyst Outlines ALGO Price

Circle‘s USDC dominates that market. It accounts for 98% of stablecoin activity within Algorand’s DeFi ecosystem.  ALGO Valuation Scenarios Draw Market Focus  In an X post, analyst Finance Bull outlined ALGO valuation scenarios based on market capitalization and circulating supply. Using an estimated circulating supply of about 8.9 billion ALGO, he presented several price levels.  Under a $10 billion market cap, ALGO would stand near $1.12. At $50 billion, the price would be around $5.62, while an $80 billion valuation would place it near $8.99.  For a $1 trillion market cap, the implied price would be about $112 per ALGO. He clarified that these figures are not predictions but supply-based scenarios. An analyst said Algorands fundamentals remain key to assessing which market cap range ALGO could support.  Analyst Points to Regulation, Quantum Security, and Adoption  The analyst pointed to regulatory status, quantum security, tokenized assets, and wider platform access. According to his post, the SEC and CFTC classified ALGO as a digital commodity in April 2026.  According to the analyst, Google‘s Quantum AI team referenced Algorand 32 times in a whitepaper related to post-quantum cryptography. The mentions highlighted Algorand’s work in quantum-resistant blockchain security.  Algorand also completed a quantum-safe transaction on mainnet using NIST-approved Falcon signatures. The post

05-08

Coinbase Reports 8.6% Record Market Share and $200 Million Derivatives Revenue

remained a major focus in the quarter. Coinbase reported that average USDC held in its products reached about $19 billion, equal to more than one-quarter of circulating USDC. Base, the companys layer-2 network, accounted for 62% of global on-chain transaction , exceeding all other chains combined.  Coinbase also highlighted growth in payment tools. Its x402 protocol handled more than 100 million payments, and USDC was used in nearly all of them, at more than 99%. The firm added that Base was responsible for more than 90% of on-chain agentic stablecoin transaction volume, positioning the network as a leading venue for that emerging use case.  Alesia Haas, Chief Financial Officer, said:  “Were growing new revenue streams, with 12 product lines each generating over $100 million annualized, and prediction markets on their way to becoming the 13th.”  On the financial side, Coinbase posted $303.3 million in Adjusted EBITDA, while net loss came in at $394.1 million for Q1 2026. Management added that the company has now recorded positive Adjusted EBITDA for 13 consecutive quarters and native unit inflows for 12 straight quarters. Coinbase continues to frame its long-term strategy around widening access to crypto products, settlement infrastructure, and global digital payments.

05-08

Fund managers double down on Bitcoin as crypto sentiment rebounds — CoinShares

Fund managers are warming back up to digital assets, with Bitcoin continuing to dominate allocation preferences even as broader crypto sentiment improves, according to a new survey by CoinShares.  The April survey gathered responses from 26 institutional investors overseeing a combined $1.3 trillion in assets under management. Allocations to digital assets remain relatively modest, at around 1%, reflecting what CoinShares described as “typical entry sizing” in the current de-risking environment.  “Bitcoin remains the digital asset with the most compelling growth outlook,” CoinShares head of research James Butterfill wrote in the report. Sentiment toward Ether (ETH) and Solana (SOL) also improved modestly compared with previous quarters.  According to the survey, around 32% of respondents have already invested in Bitcoin ($BTC) and 25% have already allocated to Ether.  The findings suggest institutional investors are gradually increasing exposure to crypto amid improving market sentiment, growing adoption of exchange-traded funds (ETFs) and a more favorable regulatory backdrop.  At the same time, respondents identified internal restrictions and regulatory uncertainty as the main barriers preventing broader adoption. The survey also pointed to a shift away from “legacy altcoins” and toward newer decentralized finance protocols and emerging blockchain sectors.  Fund managers identified Bitcoin as having the strongest growth outlook among digital assets, followed

05-08

$396 mln ETH moves: Are Ethereum whales preparing for another sell-off?

While the broader market has experienced significant upside volatility, Ethereum has closed at lower lows for two consecutive days.  After it was rejected at $2.4k, the altcoin dropped to a low of $2.3k and is now testing that level of support. With the market showing some signs of weakness, Ethereum whales and institutions have increased selling activity.  Paradigm Capital deposits $27 million in $ETH  After Ethereum [$ETH] failed to hold $2.4k towards the end of April, institutional investors stepped back from the market.  The Coinbase Premium Index has remained negative for 10 consecutive days, suggesting U.S. institutional investors have turned bearish.  Source: CryptoQuant  Paradigm Capital is one such institution. According to Lookonchain, four wallets linked to Paradigm Capital deposited 11,615 $ETH, worth $27.29 million, into FalconX.  Such a move to deposit to exchanges suggest preparations to sell. Although not sold yet, the firm is likely to sell.  Coupled with that, individual whales have also turned to exchange deposits. According to Lookonchain, Garret Jin, also known as BitcoinOG1011 (short), just deposited 166,023 $ETH, worth $396 million, into Binance.  Given the deposit, it seems Garret Jin is also most likely preparing to sell. If these assets are sold, it will put significant pressure on the market, leading to potential price drops.  Ethereum

05-08

CLARITY Act Draft Circulates Ahead of Potential Senate Vote, Report

Tech  CLARITY Act Draft Circulates Ahead of Potential Senate Vote, Report  The Senate Banking Committee is reportedly moving closer to action on the CLARITY Act, with a markup notice possible on May 8. Journalist Eleanor Terrett reported that draft legislative text has circulated to select industry members before a potential vote on Thursday. The language remains under review, with additional edits expected from Democratic offices.  Industry sources who reviewed the draft described the overall response as positive, though unresolved bracketed sections remain a concern. Those areas involve provisions some participants had previously viewed as settled. The draft circulation comes as lawmakers, advocates, and industry executives push for a federal digital asset framework. Terrett said:  “The Senate Banking Committee is preparing to notice a markup for the CLARITY Act as soon as tomorrow and has circulated draft legislative text to select industry members ahead of a potential Thursday vote.”  Yield Deal Leaves Ethics Clause in Focus  After passing the House in July 2025, the Digital Asset Market Clarity Act has faced months of Senate Banking Committee deadlock. Pressure increased this week after Patrick Witt, executive director of the Presidents Council of Advisors for Digital Assets, said the White House wants passage by July 4. The target adds

05-08

Toncoin faces $103M token unlock - Will it derail TON’s price rally?

Tech  Toncoin faces $103M token unlock – Will it derail TONs price rally?  Toncoin [TON] has emerged as one of the strongest performers in the latest market rebound. At press time, the asset gained nearly 19% in the past 24 hours as investor sentiment improved alongside a series of network upgrades aimed at boosting blockchain efficiency.  The rally has coincided with rising on-chain activity, stronger liquidity flows, and renewed user participation across the Toncoin ecosystem. However, despite the improving fundamentals, the sustainability of the uptrend may still depend on how the market absorbs the projects upcoming monthly token unlock.  Network upgrades strengthen TON fundamentals  TON‘s latest momentum follows improvements to the network’s core infrastructure, particularly transaction finality. According to data shared by , the blockchain now ranks among the fastest Layer-1 networks in transaction finality, processing transactions in roughly 0.6 seconds.  The development forms part of the ecosystems broader “Make TON Great Again (MTONGA)” initiative, which focuses on improving network performance and user accessibility.  Source: X  Earlier upgrades also reduced transaction fees by nearly six times to around 0.00039 TON, or roughly $0.0005, while the network continues working toward gas-free transactions.  TON‘s ties with Telegram also remain central to its expansion strategy. The messaging platform is expected to deepen

05-08
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