Michael Saylor’s Strategy, previously known as MicroStrategy, has made another Bitcoin purchase despite the panic in the crypto market and the current BTC price action. This latest purchase also comes as the MSTR stock continues its decline, down over 5% today in premarket trading. Strategy Buys 130 Bitcoin for $11.7 Million In a press release,
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Safety Shot announced on August 11 the creation of a corporate BONK treasury, receiving $25 million in tokens through a strategic alliance with BONK founding contributors.
The Nasdaq-listed company issued $35 million in convertible preferred shares as consideration for the allocation.
The arrangement positions Safety Shot among a growing cohort of public companies adopting altcoin treasury strategies beyond traditional Bitcoin holdings.
Recent corporate altcoin moves include Bit Origin arranging $500 million for Dogecoin (DOGE) accumulation and SharpLink Gaming disclosing nearly 600,000 ETH holdings.
Safety Shot CEO Jarrett Boon stated:
“This strategic partnership represents the first stage of a much broader corporate evolution for our company. By aligning with one of the most exciting ecosystems in digital assets, we are taking a bold first step.”
The partnership includes plans for expanded collaboration across the Solana ecosystem as Safety Shot develops its digital asset infrastructure.
Technical infrastructure drives selection
Safety Shot cited BONK’s Solana blockchain foundation as a key factor in the treasury decision.
The company noted BONK’s high-speed, low-cost transaction capabilities provide advantages over Ethereum-based competitors like Shiba Inu and Pepe, which they claimed face network congestion and elevated fees.
BONK held a market capitalization exceeding $2 billion as of press time, making it the fifth-largest memecoin.
The allocation follows Safety Shot’s debt settlement and balance sheet optimization, which left the company with over $15 million in cash reserves. The BONK tokens will serve as core treasury assets within Safety Shot’s broader digital asset strategy.
Broader altcoin treasury adoption
Corporate cryptocurrency treasury adoption has accelerated throughout 2025, with companies diversifying beyond Bitcoin (BTC) into specialized blockchain ecosystems.
XRP corporate treasury commitments are also increased through companies like Trident Digital, Webus International, and VivoPower International, demonstrating institutional appetite for BTC alternatives.
Windtree Therapeutics secured agreements for up to $200 million to establish BNB reserves, while Sonnet BioTherapeutics earmarked $583 million in HYPE tokens for balance-sheet deployment.
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Before the crypto crash this week, Cardano had shown outstanding upward momentum. The coin at one time even rallied by nearly 50% in less than a week. But as weakness sips through the market, all these incredible gains have now reversed. Despite this, ADA has managed to establish a strong trading range. Here are some highlights:
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ADA has traded between $0.47 and $0.55 over the last few days
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This range will likely hold as the broader crypto market slightly recovers
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Cardano however faces very limited upside to overcome the $0.55 barrier.
Data Source: TradingView
Where will ADA go from here?
The trading range established by ADA over the past few days represents short-term support and resistance. It is likely that the coin will trade within this range for days before it finds direction.
However, we do not see a lot of downsides. In fact, if ADA was to lose the $0.47 support, it could still find a lot of resilience at $0.435. This is actually a longer-term support zone for the coin. Also, if there is a period of price consolidation above $0.55, we may see a short-term rally for ADA.
But it doesn’t seem like the coin has so much room to run. In fact, the best-case scenario for bulls would be to try and reclaim the highs of $0.77. Here, ADA will face major sell-off pressure and will likely retreat even before it attempts to test $1.
When will ADA return above $1?
It seems like yesterday when we were all looking at ADA above $1. The coin was projected to hit at least $5 by the end of the year. However, this is now highly unlikely since ADA would need to grow more than 10x to hit that estimate.
But a return above $1 is not out of the cards. Sentiment will however need to improve drastically over the month ahead for this to happen.
Chainlink (LINK) appears to be establishing an upward trend line that could see it surge towards $33. The coin has in fact been one of the better performers despite the market-wide crypto correction that we have seen over the past week or so. LINK is building this upward momentum, but can it hold? Well, here are some highlights first:
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LINK has managed to retrace its 200-day exponential moving average over the last few days
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The token also shows a bullish crossover of its 20- and 50-day EMAs
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The coin has shown outstanding resilience even with massive downward pressure from the broader crypto market.
Data Source: Tradingview.com
Chainlink (LINK) – Price prediction and analysis
LINK had shown some signs of recovery after the December Santa rally. The coin was testing its $23.16 resistance at the time. However, even despite massive downward pressure from the broader crypto market, LINK showed exemplary resilience, surging past $23.16.
At the time of writing, the coin was trading at $26.28 and is firmly testing overhead resistance of around $28.7. When you consider the downtrend we have seen in crypto over the last week, it is clear that LINK has actually done quite well.
If the coin is able to break past $28.7, we expect it to surge past $33 in the near term. But with sentiment in broader crypto still bearish at the moment, it may take longer for LINK to break that threshold.
Should you buy Chainlink (LINK)
LINK has always been one of the best crypto assets to buy and hold for the long term. The coin right now is heavily discounted. As such, it’s a good time to get in.
The underlying fundamentals are positive, and the price analysis suggests a short-term rally that could help mask out some of the losses we saw in the last 7 days.
Cardax Establishes Itself as the DEX for Cardano, Intends To Transform DeFi- Cardax is one of the fastest-growing DeFi platforms on the blockchain.
- Its users can trade ADA, exchange one ADA for another within the same transaction.
- Cardax secured $9M in public funding to grow the platform on Cardano.
Cardano Blockchain’s decentralized exchange (DEX) Cardax presents itself as a safe and reliable option for investors. By using Cardax, users can trade any Cardano Native Token for any ADA, exchange one Cardano Native Token for another within a single transaction, and implement liquidity-aware automatic pricing using the Automated Market Maker (AMM) protocol.
Anyone can join Cardax as a liquidity provider and begin earning CDX tokens. Not to mention, Cardax developed an innovative general-purpose algorithm that solves the problem of concurrency on the Cardano blockchain called ‘Streaming Merge.’
This implies that users will be able to communicate with Cardax’s protocol without interruption or interference thanks to this general-purpose algorithm. Streaming merge extends beyond Cardax DEX and will be used in the future by other Cardax-hosted services.
A key collaboration between Cardax and Duncan Coutts’ Well-Typed team, a premier Haskell consultancy, is led by Duncan Coutts who has extensive Cardano experience as a senior technical architect at IOHK.
The team has extensive experience with Haskell tools, libraries, and development techniques, and their consultants will work alongside the Cardax core development team to evaluate code and advise on tools, best practices, and development processes that the Cardax team should adopt during development.
Cardax also works with Mlabs, Haskell, Rust, Blockchain & AI consultancy. MLabs Haskell developers have been chosen as one of the software businesses working on the private testnet with the IOHK Plutus delivery team. These developers have also pledged to train other Haskell developers and create open-source DeFi tools in order to make Cardano DeFi development accessible to non-Haskell programmers.
Tweag, best known for its work on the architecture and design of Cardano’s Plutus platform, is part of Cardax strategic partners. Cardax is also supported by IOHK in several ways. Cardax receives regular technical and strategic feedback from IOHK, one of the world’s preeminent blockchain infrastructure research and engineering organizations created by Charles Hoskinson.
In brief, the Cardax team has a lot of technical knowledge in-house and is surrounded by a lot of blockchain, Plutus, Haskell, and Cardan specialists, so it will be more than capable of creating an extremely secure and easy-to-use decentralized exchange for the Cardano ecosystem.
For the past year, Cardax has achieved Partnering with the best developers and consultants out there when it comes to Haskell and Cardano. As well as listing several projects and their coins such as Blockademia. In addition, it secured $9M in public funding to grow the platform on Cardano and with its great community on Discord and Twitter (NYSE:), Cardax is geared to deliver on its plans.
In the next 12 months, Cardax plans to Launch its DEX, research the possibility of its own stablecoin on the DEX, and commence the development of the DEX 2.0 for an even better user experience.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
- Cardano price is consolidating inside a symmetrical triangle, hinting at a 17% breakout.
- The upside for ADA seems to be limited at $2.76 or the 70.5% Fibonacci retracement level.
- The commercial arm of Cardano establishes EMURGO Africa to help 100 startups, among other things.
Cardano price is currently consolidating with no directional bias in sight. Moreover, the upside for ADA is infested with stacked resistance barriers, making a bullish scenario an uphill battle.
Emurgo establishes in Africa
EMURGO, a commercial arm of the Cardano blockchain, announced the establishment of EMURGO Africa recently. As a wholly-owned subsidiary of the Cardano ecosystem, EMURGO will invest in “early startup and growth companies focused on building socially impactful solutions powered by Cardano. The investment process will be done by EMURGO Africa and EMURGO Ventures.
The grand vision of this arm is to establish Cardano as the standard tech infrastructure platform in Africa to bring financial empowerment.
The announcement further added,
To mark EMURGO Africa’s official launch and first portfolio investment, it has forged a strategic partnership with Adanian Labs – a successful pan-African venture studio and incubator currently provides services all over Africa with focuses on building impact driven tech start-ups across key sectors.
Cardano price at decisive moment
Cardano price set up three lower highs since September 18 and two higher lows in the same time frame. Connecting these swing points using trend lines results in the formation of a symmetrical triangle.
This technical pattern has no directional bias, but a target is obtained by adding the distance between the first swing high and swing low to the breakout point.
Assuming a Cardano price breaches the upper trend line around $2.27, the setup forecasts a 17% upswing to $2.65, coinciding with the 62% Fibonacci retracement level. However, this run-up will not be easy as it would require ADA to slice through the $2.39 and $2.51 resistance barriers.
If Cardano price manages to breach through this and retest $2.27, there is a chance that an increased bullish momentum could trigger a retest of $2.76.
ADA/USDT 12-hour chart
On the other hand, if the ADA price fails to slice through the upper trend line, it is likely to venture lower and retest the inclined trend line of the symmetrical triangle. A breakdown below this barrier of around $2.09 will forecast a 17% downswing to $1.73.
Similar to the stacked resistance barriers in the case of a bullish breakout, Cardano price has $1.99, $1.91 and $1.81 stable support floors. Therefore, investors can expect the selling pressure to reduce after retesting either of these before tagging the intended target at $1.73.
SINGAPORE, Oct. 5, 2021 /PRNewswire/ — EMURGO – the official commercial arm and a founding entity of the Cardano blockchain – previously announced the launch of a new wholly-owned Cardano ecosystem investment vehicle to invest into early startup and growth stage companies focused on building socially impactful solutions powered by Cardano, through two separate entities with distinct visions, EMURGO Africa and EMURGO Ventures.
EMURGO Africa announced today its vision and plans to position Cardano as the standard tech infrastructure platform for Africa’s emerging industrial innovation and support 100 local startups within three years, which will bring financial empowerment to the continent.
Venture capital investments in African startups is expected to total between $2.25 billion to $2.8 billion in 2021, indicating a large potential for high-growth startups in the local market.
The African startup market already has notable African companies such as Jumia, a NYSE-listed e-commerce platform, and several other unicorns such as Flutterwave.
In terms of Africa’s blockchain market, it is projected to possess a 30% market share of the global blockchain market and grow from a $1.1 billion market in 2020 to a $134.9 billion market by 2028.
The overall mission of EMURGO Africa is three-fold.
- First, establish a sustainable growth model for African startups that balances commercial viability and social impact.
- Second, build financial infrastructure on Cardano to promote innovation and bridge African traditional finance with blockchain-based decentralized finance (DeFi).
- Third, connect various African and Asian industries to mutually share business resources.
To achieve this mission, EMURGO Africa will launch with a $100 million allocation for a dedicated investment and incubation program.
EMURGO Africa will first target pre-seed blockchain startups with a market capitalization of $20M or less, and then early-stage startups, with a focus on startup communities in Kenya, Nigeria, South Africa, and Egypt, before expanding across Africa.
EMURGO Africa’s investments will focus on blockchain sectors such as DeFi and NFTs, and emerging technologies such as AI, fintech, edutech, agritech, and healthtech.
To mark EMURGO Africa’s official launch and first portfolio investment, it has forged a strategic partnership with Adanian Labs – a successful pan-African venture studio and incubator for more than 15 African startups through its innovative African-specific incubation program and a significant contributor to African industrial innovation by planning smart cities using blockchain in partnership with the Ugandan city of Entebbe.
EMURGO Africa has also announced a strategic partnership with Everest Ventures Group (EVG) – a leading Asian blockchain venture studio backed by a consortium of prominent families and companies including the Rothschild family (Europe), Hanwha Group (Korea), Sun Hung Kai (Hong Kong), etc. – to jointly launch Adaverse, a Cardano-focused acceleration program in Africa.
Via its parent company EMURGO, EMURGO Africa provides four unique value propositions for its portfolio companies and strategic partners:
- Blockchain education content and resources
- EMURGO’s education unit has partnered with more than 20 universities globally and successfully produced 2,500 blockchain-proficient students thus far.
- Tailored blockchain solutions development
- Provide startups with the support and technical expertise necessary to build solutions on Cardano. EMURGO Trace – an enterprise traceability solution – is in live production with more than five coffee companies across the globe
- Growth support
- Leverage EMURGO’s incubation expertise and experience with dLab, a blockchain acceleration program with SOSV, to provide startups with the resources necessary for funding, global marketing, and product building.
- Accessibility to Cardano and industry partners
- Provide direct access to the Cardano ecosystem via Yoroi Wallet, an official light wallet of Cardano with 700K downloads; Astarter, EMURGO’s Cardano DeFi ecosystem project; and a global network of industry partners.
Those interested in applying for funding can submit an application at https://emurgoafrica.vc/
About EMURGO
EMURGO is the official commercial arm of Cardano and provides socially impactful solutions to solve some of the most intricate problems of organizations. As a founding entity of the Cardano protocol, EMURGO is able to leverage its abilities for large-scale blockchain development and rapid solutions deployment to benefit its global clients. To connect and learn more, visit https://emurgo.io.
For further information from EMURGO
Renato Zamagna
Chief Marketing Officer
[email protected]
+65 6978 5823
SOURCE EMURGO
