Mega Matrix raises $16m, bets big on stablecoins to anchor corporate treasuries

PANews reported on July 26 that according to Onchain Lens, the 3.07 billion PUMPs that PumpFun spent 120,450 SOLs to buy 8-10 days ago are currently worth only $8.2 million,

Ethereum price has established the $3,500 threshold as a critical launchpad level, while smart money rotation from Bitcoin creates unprecedented institutional demand. ETFs have purchased 1,368,980 ETH this month, compared to only 72,513 ETH minted, effectively buying 18 months’ worth of supply in just three weeks. This supply shock coincides with extreme bearish positioning in CME futures reaching -13,236 contracts, creating substantial fuel for short-covering rallies. Currently trading at $3,708, Ethereum has broken above key resistance levels around $2,600-$2,700 and is approaching the critical $4,000 zone that separates consolidation from explosive breakout territory. Source: TradingView Technical analysis reveals that ETH has been within a massive broadening wedge formation since 2023, with the current positioning testing the upper boundary of this formation. Combined with extreme short positioning and record ETF inflows, the confluence suggests Ethereum may be entering the acceleration phase toward new all-time highs above $4,878. Broadening Wedge Breakout Targets $4,800 Ethereum’s weekly chart reveals a massive broadening wedge formation with expanding oscillations that typically precede explosive breakouts. Currently testing the upper boundary around $3,742, ETH approaches the critical $4,000 resistance, which represents the key breakout level of the pattern. $ETH is just one God candle away from the biggest breakout. Once that happens, ETH will pump straight above the previous ATH. It seems like another mic-drop moment is coming for @EricTrump . pic.twitter.com/Unti8pPVXi — Cas Abbé (@cas_abbe) July 26, 2025 The ascending trendline provides crucial support, while horizontal resistance must be overcome for the major breakout scenario. The mathematical structure suggests that compressed energy exists within the formation, which could produce explosive movements once the upper boundary breaks decisively. Projection targets of $4,800 indicate a measured move potential, calculated from the wedge width, representing approximately 30% upside from current levels. The current positioning suggests ETH is completing the final consolidation phase before resolution toward much higher targets that could exceed previous all-time highs above $4,878. Ethereum Price Prediction: Extreme Short Positioning Fuels Covering Rally CME Ethereum futures data reveals unprecedented bearish positioning reaching -13,236 contracts, representing the most extreme short interest in the dataset’s history. Source: Wise Advice on X This capitulation-level positioning typically precedes significant upward moves as forced covering accelerates price gains. Even modest upward moves could trigger cascading short covering that accelerates gains beyond normal technical resistance. Recent momentum shows “a record-setting 9 daily candles” followed by minimal corrections, describing patterns characteristic of strong trending moves. Source: IncomeSharks on X This progression from support levels through resistance breakouts illustrates methodical institutional accumulation, with foundations being built at each level. The $4,000 target for “end of month” appears achievable given current momentum and short covering, providing additional upward pressure beyond normal buying demand as extreme positioning unwinds. $ETH – #Ethereum will inevitably break its all-time high. pic.twitter.com/hT1vmtWBI1 — Crypto Caesar (@CryptoCaesarTA) July 25, 2025 Snorter: Last Days to Join $2 Presale Success Ethereum’s approach to breaking out above $4,000 and potentially accelerating to $4,800 targets creates ideal conditions for advanced trading strategies. Snorter’s $SNORT token presale has raised over $2 million, with limited allocation remaining before the window closes permanently ahead of Q3 2025 mainnet launch. Source: Snorter Bot Early investors are securing final positions in the Telegram-native trading bot positioned for explosive market conditions. The $SNORT token unlocks multiple revenue streams through the expanding ecosystem. Staking rewards reach up to 207% APY for early participants, while reduced trading fees at 0.85% provide ongoing advantages during high-volume trading periods. Token holders gain governance rights and early access to new launches, creating additional value beyond basic trading functionality. Market projections estimate that $SNORT could reach $0.65 by late 2025, driven by the adoption of utility during periods of increased trading volumes. The presale’s limited remaining allocation and the approaching Q3 launch create a final opportunity for investors seeking the next big utility-backed token.