Crypto market update: New altcoin treasuries as price drivers

INFBusiness
10.09.2025
News

The crypto market continues its upward trend after the shock of the largest NPM attack in history. Bitcoin climbs to over $113,000, up more than 1.5 percent over the past 24 hours.
Solana even recorded a gain of over 5 percent, thanks to the launch of the $1.65 billion Solana Treasury company by Multicoin Capital, Galaxy Digital, and Jump Crypto.
Martin Leinweber, Director of Digital Asset Research & Strategy at MarketVector Indexes, told BTC-ECHO that an institutional “Saylor of Solana” could become the decisive catalyst. With venture capitalist Kyle Samani at the helm of the publicly traded company Forward Industries, this has now occurred.
Julius Nagel, General Partner at w3.fund, is also bullish on X: “One point many skeptics of the SOL treasury firms overlook is how much Kyle Samani wants SOL to win against ETH. Have you ever heard the man talk about Solana vs. Ethereum? I wouldn't discount a big ego with a big goal. Kyle vs. Tom Lee will be exciting to watch in Q4.”
Hyperliquid is up around 10 percent during the same period, reaching a new all-time high of just under $55. The rally is being driven in particular by a bidding war among stablecoin issuers such as Paxos and Sky.
Nasdaq-listed crypto treasury firm Lion Group has also announced that it plans to convert its Sui and Solana holdings into HYPE.
Ethena is also up over 13 percent. Its treasury company, StablecoinX, announced on September 5 that it had raised an additional $530 million for ENA purchases through a PIPE financing round.
However, the biggest winner among the larger coins over the past 24 hours is World, with a price increase of around 50 percent. This is due to the launch of a WLD treasury company.
Nasdaq-listed Eightco Holdings announced it has raised $250 million for this purpose. Interestingly, Ethereum treasury giant BitMine also announced a strategic $20 million investment in Eightco.
Current inflation data from the US as well as the ECB's latest key interest rate decision are likely to significantly influence the price development of Bitcoin and Co. this week.

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