Despite the drop accumulation continues, with China Renaissance aiming to raise $600 million for a publicly traded crypto treasury focused solely on BNB.
With rising liquidity, regulatory clarity and institutional use, stablecoins are moving beyond crypto trading to challenge traditional payment networks, DWS said.
The dominance of Tether and Circle, once seen as unshakable, is now facing its most formidable test yet, crypto product and strategy professional James Murrell argues.
"While shares have done well over the expectation that IREN will entirely focus on its GPU cloud, we continue to believe there is more room to run," said analyst Brett Knoblauch.
Bitcoin steadies around $111,000 after a bruising sell-off, as derivatives and options data show mixed signals between cautious futures traders and bullish options buyers.
Enflux says the $600 million plan reflects a new wave of Asian capital favoring infrastructure tokens that power transaction flow over store-of-value assets.
Bitfarms, Cipher Mining and Bitdeer posted double-digit gains on Monday as miners keep benefitting from artificial intelligence's surging demand for computing power.