Crypto Today: Metaplanet Raises $10M to Buy BTC, ETH Drops Below $1,600, Tron Surges Amid Market Anxiety

In a turbulent day for the crypto markets, Metaplanet, the Tokyo-based tech firm increasingly likened to “Japan’s MicroStrategy”, confirmed it has raised $10 million in a private investment round to be allocated entirely to Bitcoin. The move has sparked fresh debate over BTC’s long-term role as a corporate treasury asset.

CEO Kenta Ikeda stated that Bitcoin’s role as a hedge against inflation and fiat devaluation was a key driver behind the allocation. “We believe Bitcoin offers a hedge more robust than gold in the digital age. This move is a strategic decision to preserve long-term value for our shareholders,” he said in a press release.

Meanwhile, Ethereum (ETH) saw a sharp drop, sliding below the $1,600 threshold for the first time in weeks. Traders attribute the slide to both macro uncertainty and waning DeFi activity on the Ethereum network, which has led to lower transaction volumes and weaker demand for ETH.

Adding to the mixed picture, Tron (TRX) bucked the trend and surged over 6%, driven largely by increased activity in Asia-based exchanges and stablecoin inflows into Tron’s network. TRX’s DeFi ecosystem, particularly on JustLend and SunSwap, saw a noticeable uptick in user growth.

Market analysts suggest these kinds of divergent moves highlight the growing fragmentation in crypto investor behaviour, with some seeking safety in Layer 1 blue chips and others jumping into high-liquidity altcoins.

As the broader crypto market searches for direction, sentiment remains cautious but not yet capitulatory. “Until we get clearer Fed commentary or a catalyst in the ETF space, expect this choppy action to continue,” said Priya Shankar, senior analyst at Apollo Crypto.