ALGO price is testing a pivotal support zone after breaking out of a bullish double bottom pattern as momentum resets for a potential 40% surge. Algorand (ALGO) price is currently in a breakout retest phase, trading just above the neckline…

Algorand poised for 40% surge based on a bullish pattern and robust Q2 report

Strategy (previously MicroStrategy) announced its first profit in six 
quarters, buoyed by a notable surge in cryptocurrency values during the latest 
quarter that saw the market’s largest cryptocurrencies,, including Bitcoin 
(BTC), recover from previous price corrections. This development comes as the 
crypto firm, the largest corporate holder of Bitcoin, capitalizes on a 
favorable market environment that saw Bitcoin reached a new all-time high past 
$123,000 for the first time, following the signing of the GENIUS Act into law 
by US President Donald Trump earlier this month. Strategy Reports $14 Billion 
Gain As of June 30, Strategy held an impressive 597,325 BTC, purchased at an 
average price of $70,982 per coin. With Bitcoin currently trading in a 
consolidation between $114,000 and $120,000, the company recorded a staggering 
$14 billion unrealized fair value gain on its digital assets. Related Reading: 
Trump-Appointed Group Calls For Easier Crypto Regulations From Federal 
Authorities This marked a stark contrast to the previous year, when the 
company co-founded by Bitcoin bull Michael Saylor, faced a loss of $102.6 
million, or 57 cents per share. For the three months ending June 30, Strategy 
posted a net profit of $9.97 billion, or $32.60 per share as the company has 
increasingly ramped up its acquisition efforts through new initiatives this 
year. ‘Hyper-Growth Phase&#8217; For Bitcoin Historically, the company faced 
restrictions on recognizing gains from Bitcoin unless it sold the assets; it 
could only account for losses if the cryptocurrency’s value fell below its 
purchase price. However, this recent profit signals a shift in its financial 
strategy, reflecting broader corporate acceptance of cryptocurrencies. 
Strategy began its Bitcoin accumulation in 2020, initially using cash and 
later financing its purchases through low-cost convertible bonds and stock 
sales. The firm is now ranked first among the top 100 public Bitcoin treasury 
companies. Following it are the mining firm MARA Holdings, XXI, the Bitcoin 
Standard Treasury Company, and Riot Platforms. Related Reading: Chainlink 
Acknowledged By The White House As Key Player In Crypto Infrastructure The 
company’s stock, MSTR, has surged nearly 39% this year, outpacing Bitcoin&#8217;s 
own 25% increase. This momentum has inspired other public companies to adopt 
similar strategies, emulating the buy-and-hold treasury approach championed by 
Strategy&#8217;s co-founder Michael Saylor. On a recent post-earnings call by the 
company, Saylor remarked that the digital asset industry is entering a “hyper- 
growth, hyper-adoption phase” for Bitcoin as a treasury reserve asset. 
Moreover, several companies are now diversifying their crypto holdings, 
exploring other tokens like Ethereum (ETH) and utilizing mergers with blank- 
check companies to integrate crypto assets into their equity structures. 
Strategy&#8217;s stock, which saw a nearly fivefold increase last year, even earned 
it a place in the Nasdaq 100 index in December. When writing, the market’s 
leading crypto trades at $115,780, meaning a 6% gap between current prices and 
its record high. Featured image from DALL-E, chart from TradingView.com

Record Bitcoin Prices Propel Strategy To First Profit In Six Quarters

Robinhood (HOOD), the trading platform that gained notoriety during the meme- 
stock frenzy, has demonstrated a significant evolution in its business model, 
according to a recent report by Reuters. The company’s latest earnings reveal 
a surge in trading volumes across equities, options, and cryptocurrencies, 
indicating its ability to engage retail investors even amidst market 
uncertainties like high interest rates and tariff concerns. Robinhood Shows 
Strong Growth In Options And Equities In its second-quarter (Q2) report, the 
crypto platform announced transaction-based revenue of $539 million, marking a 
remarkable 65% increase compared to the previous year. The growth was driven 
by a 46% rise in options trading and a similar 65% increase in equities. 
Notably, revenue from cryptocurrency nearly doubled, bolstered by the firm’s 
recent $200 million acquisition of Bitstamp. Related Reading: Trump-Appointed 
Group Calls For Easier Crypto Regulations From Federal Authorities CEO Vlad 
Tenev noted a transformative shift in the company’s stability since its public 
debut in 2021. He emphasized that the current roadmap is packed with new 
product offerings, including tokenization and perpetual futures, suggesting a 
robust strategy to enhance user engagement. He said: In 2021, when we went 
public, it felt to me like we were much more fragile than today. But now the 
road map, if you look at things that we expect to deliver in the short-term, 
medium-term and long-term, is pretty packed. Meme-Stock Mania Resurgence 
Analysts at Piper Sandler highlighted that the diverse range of products 
available on the platform has fostered strong retail engagement, with equity 
and options trading reaching record levels in July. This resurgence in trading 
activity comes in the wake of a recent wave of meme-stock mania, reminiscent 
of the trading frenzy that characterized the 2021 bull cycle for the broader 
industry. Stocks of heavily shorted companies like Krispy Kreme and Kohl&#8217;s saw 
significant surges from retail investors, echoing the earlier excitement 
surrounding GameStop. Despite fluctuations in trading volumes, CFO Jason 
Warnick expressed confidence in the platform&#8217;s steady customer engagement and 
high retention rates, suggesting that Robinhood is well-positioned to maintain 
its growth trajectory. Related Reading: Chainlink Acknowledged By The White 
House As Key Player In Crypto Infrastructure The crypto market continues to 
play a pivotal role in Robinhood&#8217;s future earnings, with analysts projecting 
that crypto exchange Bitstamp acquisition will solidify the company&#8217;s roadmap 
in this sector. JPMorgan analysts believe that crypto has historically 
contributed about 10% to 20% of the trading platform’s revenue, and this 
figure is expected to rise throughout the year. Robinhood&#8217;s stock, HOOD) 
recently reached record highs beyond $113, pushing the company&#8217;s market 
capitalization close to $94 billion. Following the impressive earnings report, 
several brokerages have raised their price targets for the stock, with Wall 
Street maintaining an average &#8220;buy&#8221; rating. As of this writing, HOOD is valued 
at $103, recording a 3% drop on Thursday&#8217;s trading session. Featured image 
from DALL-E, chart from TradingView.com

Robinhood Shift To Diverse Offerings Fuels Growth In Q2 Earnings

Bitcoin staking platform Solv Protocol has announced BTC+, a new structured 
yield vault designed to generate BTC-denominated returns. According to an 
August 1 X post, the vault helps generate interest from idle Bitcoin by 
deploying capital across DeFi, CeFi, and…

Solv Protocol launches BTC+ vault to unlock yield from idle Bitcoin

After rising to a new 7-year high off the back of strong buys, the XRP price 
has moved back downward in search of new support levels. This move has been 
spurred by the general bearish sentiment that has plagued the market as the 
Bitcoin price struggled to reclaim its all-time high levels, putting altcoins 
at risk once again. On its own, the XRP price is facing unique barriers, 
especially when it comes to buying, which could trigger another wave of 
decline. Directions The XRP Price Could Go Crypto analyst Thecafetrader has 
highlighted the possible directions that the XRP price could go in following 
its decline. These include both bullish and bearish directions, both being 
decided by buyers and how much weight they put behind their positions during 
this time. Related Reading: XRP Price To Climb 44% To $4.804 As Long As This 
Level Holds The first point that the analyst makes is the fact that the XRP 
price rally was driven by massive buyers. These buys had triggered a breakout 
above the 2024 highs, but met resistance from sellers once again. Thus, it 
suggests that bulls have been trapped at higher prices inside their positions. 
However, this is not the most concerning development. One thing that the 
analyst points out is the major decline in trading volume despite XRP hitting 
new highs this year. For example, back in 2024, when the XRP price had first 
crossed the $3 mark, the daily trading volume had peaked above $78 billion. 
But with the new highs above $3.6, the highest daily trading volume recorded 
was just above $41 billion. Given this, it suggests that there is a major 
decline in buying interest, especially as conviction has been impacted by the 
price decline. Interestingly, though, the buyers are not the only ones who 
seem to be abstaining from the XRP altcoin at this point. According to the 
analyst, there are no “real” sellers that are moving into the market. 
Therefore, there is still bullish momentum for a possible recovery back to 
$4.64. Related Reading: XRP, Dogecoin, And Shiba Inu Get Major Boost From 
Gemini Exchange Announcement Moving to the more bearish side, the analyst 
explains that the XRP price does need the strong buyers to step in to continue 
an uptrend. If these buyers fail to hold up, then the XRP price does risk 
crashing back downward from the initial $2.95 point of interest. The targets 
for such a decline are placed by the crypto analyst at $3.13 initially. 
However, the more the price struggles, the lower the targets go. Next is the 
$2.95 territory, then $2.15-$2.3, which the analyst calls a “good price” for 
entry. Then last but not least is the $1.60-$1.93 range, marked as a “steal.” 
Featured image from Dall.E, chart from TradingView.com

XRP Blows Cold: Price Crash To $2.15 Still Possible If Buyers Falter

A broad sell-off hit the crypto market on the first day of August, with total 
market capitalization falling 6.6% to $3.8 trillion amid macroeconomic 
tensions. Bitcoin (BTC) fell 2.4% to $115,354, while Ethereum (ETH) declined 
4.1% to $3,702. Solana (SOL),…