The last 24 hours have been challenging for top altcoins as prices moved mostly lower. Bitcoin dipped 0.5% to around $109,468, while Ethereum held near $4,468 with only minor change. XRP slipped 1.2% to $2.80, BNB fell 0.6% to $864, and Solana eased 0.8% to $202. However, one altcoin has exploded.
Block (BLOCK) is trading at $0.65, up nearly 294% over the past week. The token has seen a strong surge after hitting an all-time low of $0.11 on August 11, gaining more than 500% since. Despite this rally, it remains 62% below its all-time high of $1.80, reached in June 2025.
Recent catalysts include Ark Invest purchasing $19 million worth of Block shares on August 12, just after the token dipped to a 3-week low. This follows Block’s inclusion in the S&P 500 in July, which triggered $1.1 billion in index-fund inflows. Exchange listings, such as its debut on LBank Innovation Zone in June, have also expanded access for global traders.
Part of the latest momentum also comes from strong ecosystem updates. This weekend, Block’s tokenization project Internet Capital Markets (ICM.gg) officially surpassed $100,000 under management.
The team is now preparing major launches, including the BLOCK Layer 1 blockchain, full Ethereum compatibility for seamless dApp migration, and BLOCKSWAP, its native DEX for on-chain asset trading. Listings on CoinMarketCap, CoinGecko, and upcoming Tier-2 exchanges are also expected to expand visibility.
With a market cap of $352 million and only 7.4% of its supply in circulation, Block still carries both upside and risk. Short-term moves could push the price toward $0.70–$1, while long-term adoption in real-world asset tokenization and DeFi tools could revive its June highs.
BLOCK surged 294% in a week due to Ark Invest’s $19M share purchase, S&P 500 inclusion driving inflows, and key ecosystem updates like ICM.gg surpassing $100K managed.
Key drivers include S&P 500 inclusion ($1.1B inflows), Ark Invest’s purchase, exchange listings (e.g., LBank), and ecosystem milestones like tokenization growth.
Short-term targets are $0.70–$1. Long-term success depends on adoption in real-world asset tokenization and DeFi tools, potentially revisiting June’s $1.80 high.
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