Tokyo-listed Metaplanet has purchased another 9.5 billion yen ($60.6 million) worth of Bitcoin, pushing its holdings to 1,761.98 BTC.

Metaplanet, a publicly traded Japanese company, has acquired 619.7 Bitcoin as part of its crypto treasury strategy, paying an average of 15,330,073 yen per (BTC), with a total investment of 9.5 billion yen.

The creators of the crypto analytics firm Glassnode are warning that altcoins could lose all bullish momentum following last week’s market correction.

Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,400 followers that “altcoin season,” which they say began in late November, could come to an abrupt end after alts witnessed deep pullbacks over the last seven days.

According to the Glassnode co-founders, traders and investors will likely have a risk-off approach on altcoins unless Bitcoin recovers a key psychological price point.

“Is This the End of Altcoin Season?

Bitcoin dominance is surging after dipping below $100,000, while altcoins are losing critical supports. Dominance has risen and resumed its upward trend, signaling a stronger BTC environment.

If BTC stabilizes above $100,00, we might see a pump in altcoins now in accumulation zones. Until then, Bitcoin appears poised to lead, leaving altcoins lagging behind.”

The Bitcoin Dominance (BTC.D) chart tracks how much of the total crypto market cap belongs to BTC. In the current state of the market, a surging BTC.D suggests that altcoins are losing value faster than Bitcoin.

At time of writing, BTC.D is hovering at 59%.

Looking at Bitcoin itself, the Glassnode executives say long-term Bitcoin holders are massively unloading their holdings as other investor cohorts pick up the slack.

“The Board Keeps Shifting. 

As BTC continues flowing out of exchanges during this dip, long-term holders are exiting forcefully, while short-term holders step in without hesitation.

Whales quietly accumulate, miners remain neutral, and selling pressure has merely reshuffled the board.

New hands are absorbing the sales.”

At time of writing, Bitcoin is worth $97,246.

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Cardano’s Hydra boosts ADA past $1, positioning it as a scalable dApp hub and a potential challenger to Ethereum’s dominance.

Cardano‘s Hydra is the latest scaling solution in Cardano’s ecosystem, and it has seen ADA’s price surge past $1. While ADA’s current rate represents a 65% dip from its peak, ADA holders are 90% bullish.

Compared to Ethereum’s price, ADA is much cheaper, and the developments taking place in its ecosystem could potentially threaten Ethereum’s dominance. Cardano’s Hydra, for instance, can improve Cardano’s scalability, making it a go-to ecosystem for dApp development.

Given Ethereum’s struggles to scale its network, including its move from a PoW to a PoS protocol, Cardano’s Hydra can soon help developers build speedy dApps with high rates of mass adoption.

Cardano’s Hydra on track to elevate ADA to new heights

ADA’s current price at $0.91 is on a bullish trend that has seen ADA surge over 50% in the last 60 days. After ADA’s price languished around the $0.35 zone for months, whale activity is now rising in Cardano’s ecosystem, which has seen market watchers anticipate an additional uptick to $2 in the short term.

According to reports, an influx of over 680 transactions exceeding $1 million was registered on Cardano’s ADA as confidence in ADA’s bull run grew. Cardano’s founder has also confirmed that ADA is primed for higher highs in 2025, especially with the launch of Cardano’s Hydra.

Cardano’s Hydra is set to give developers a unique scaling tool that makes transactions on Cardano cheaper, faster, and more secure. With Ethereum as Cardano’s biggest competition, Cardano Hydra might trigger a migration of developers to Cardano in the near future.

Ethereum’s price drops to below $3,400 amid scalability concerns

Ethereum‘s price has remained sluggish in responding to the bull market even though its recent uptick past $4,000. After surging to a striking distance of $5,000 in 2021, Ethereum’s price plummeted to lows of $1,000 but has recovered amid critical resistance at the $4,000 mark.

Now, Ethereum’s price has been rejected above the $4,000 mark three times, and market watchers are less optimistic that the leading DeFi ecosystem could surge further to $5,000 – $6,00 during this bull run. Some of the obstacles that have hindered a rally on Ethereum’s price include Ethereum’s bloated network, which has registered skyrocketing network fees at peak congestion.

With the advent of scalability solutions such as Cardano’s ADA, Ethereum’s price could experience further sluggish growth. What’s more, mass adoption by institutions will require a lot more liquidity to move Ethereum’s price.

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Ethereum’s potential is fast declining this cycle and investors are looking at alternatives. However, competition from the likes of Cardano’s Hydra is concerning for ETH Holders. However, many ETH holders are switching to a new project leading a new ‘PayFi’ movement. For crypto enthusiasts who want to make swift crypto-to-fiat money payments across the globe, Remittix (RTX)  is the latest solution that promises to empower businesses and crypto holders worldwide.

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