News

PANews, February 4th – According to CoinDesk, Canaccord analyst Joseph Vafi has significantly lowered his target price for bitcoin treasury company Strategy from $474 to $185, a 61% decrease, but still maintains a "buy" rating. The analyst pointed out that bitcoin is currently experiencing an "identity crisis," with its trading pattern resembling risk assets rather than safe-haven assets, and it has failed to follow the recent rally in gold. The report believes that Strategy's financial position is solid, holding over $44 billions worth of bitcoin and about $8 billions in convertible debt, which is sufficient to withstand market volatility. The new target price is based on the assumption of a 20% rebound in bitcoin price and a recovery in the company's valuation multiple.

Foresight News reported, citing data from Token Terminal via CoinDesk, that active loans on Ethereum have exceeded $28 billion, a tenfold increase since 2023.

Odaily reported that digital asset market infrastructure provider Prometheum has disclosed the completion of an additional $23 million in financing. The investors include a group of high-net-worth individuals and institutions, though specific names have not been revealed. The new funds will be used to introduce digital asset products—including cryptocurrencies, tokenized assets, and on-chain securities—into mainstream financial markets. (Businesswire)