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Sharps Technology (NASDAQ: STSS) shares surged in premarket trading on Monday after the company announced plans to establish what it called the “largest Solana (SOL)-based digital asset treasury strategy.” Notably, STSS jumped 54.45% to $11.36 in premarket, up from Friday’s close of $7.36. Despite the sharp move, the stock remains down 98% year to date, though it has gained 45% over the past week. Why STSS stock is rallying  The rally followed news of a private placement of more than $400 million, structured as a private investment in public equity (PIPE). The deal involves the sale of common stock and warrants at $6.50 per unit, with attached warrants exercisable for three years at $9.75, roughly 50% above the unit price. Closing is expected around August 28, pending customary conditions. Proceeds from the offering will primarily be used to acquire Solana tokens. Sharps Technology, a medical device and pharmaceutical packaging firm, has also entered into a...

Cardano (ADA) is one of the most promising cryptocurrencies on the market today. The asset has rallied 69% in the past year, and in the past week alone is up nearly 10%. Analysts are riding on expectations that the ADA coin will continue this climb and eventually reach $1, although the timeline remains a mixed projection. Cardano’s recent climb is fueled by a wave of liquidations, with $2.98 million in short positions being wiped out, from a total 24-h liquidation of $3.40 million. Additionally, the entire crypto market is riding the Bitcoin wave, as the king coin has reached a new ATH of $113,000 on Thursday. Furthermore, ADA has seen strong backing from institutional investors. With Donald Trump including ADA in its crypto reserve, chances are that the token may continue to pick up pace. If this buying momentum persists, Cardano may soon test its immediate resistance level near $0.70. Several crypto analysts are even speculating that it could retest the $1 mark by the end of Ju...

An analyst with a history of timely crypto calls believes that Bitcoin (BTC) will break out and trade in uncharted territory soon. Pseudonymous analyst Pentoshi tells his 869,100 followers on the social media platform X that he thinks Bitcoin will surge to an all-time high (ATH) price in the next few days. “Feel it in my flippers that we see BTC at ATH this week The market, especially ETH and BTC both have a lot of tailwinds so far (barring anything unexpected)… If we break out, I think we see $118,000-$120,000 pretty quick.” Source: Pentoshi/X At time of writing, Bitcoin is trading for $108,047, an over 1% drop in the past day. Pentoshi is also keeping a close eye on the memecoin Floki (FLOKI), which he thinks is positioned to follow in the footsteps of fellow meme token Bonk (BONK). BONK is up about 100% from its June 25th low of $0.0000123. According to Pentoshi, FLOKI’s chart appears to be a carbon copy of BONK’s price actio...

Investors in MetaPlanet (3350.T), the MicroStrategy-like Japanese bitcoin (BTC) acquisition company, are concerned about short-sellers attacking their portfolios. A screenshot of the Bloomberg terminal with a list of bankers went viral on social media yesterday following the company’s 35% retracement from its $13.38 high. Within just four business days this month, shares of MetaPlanet crashed from ¥1,930 ($13.38) to ¥1,251 ($8.70). Near that unnerving low, an observer screenshotted a list of share movements from various banks and blamed its bankers for short-selling those shares. With an overly simplistic and dramatic claim designed to go viral on social media, the trader believes “banks are shorting” MetaPlanet and its “strategic BTC play.” MetaPlanet up 330% even after the short attack Even if the claim were true, MetaPlanet is prevailing against these bankers’ alleged attacks with definitive success. Year-to-date, MetaPlanet is up 330%. Over longer time frames, ...

The cryptocurrency market slightly recovered over the weekend, with Bitcoin (BTC) briefly reclaiming the $64,000 level. Other crypto assets followed BTC’s lead, with Ripple’s XRP rallying 5% in the weekly charts and 6% in the 14-day charts. The asset continues to glow red in the other time frames, falling 1.7% in the last 24 hours and 0.5% over the previous month. Also Read: Bitcoin Climbs 5% as Powell’s Remarks Ignite Crypto Market Market Resurgence and Its Causes Source: CoinGecko The latest market rally is likely due to Federal Reserve chair Jerome Powell’s announcement of interest rate cuts beginning in September 2024. Traders and investors had long anticipated a rate cut this year. Impact of Interest Rate Cuts Also Read: Shiba Inu Forecasted to Hit $0.005: Here’s When The drop in interest rates could boost investor confidence to invest in riskier assets, such as cryptocurrencies. Ripple’s XRP token seems to have benefitted from the Fed’s announcement. ...