Strategy Shares Stabilize as Analysts Predict Doubling to $521

Strategy shares stabilize as analysts predict the stock could double in value , while Solmate agrees to acquire RockawayX to build a $2B institutional crypto group. Meanwhile, Deutsche Borse and BNY Mellon back new digital asset initiatives, and Connecticut regulators issue cease-and-desist orders to prediction market operators like Robinhood. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio, Also, subscribe to ourfor the Crypto Fly By weekly recap.STRATEGY STOCK STABILIZES AS ANALYSTS PREDICT DOUBLE:Shares of Strategy (MSTR) have stabilized as the price of bitcoinrecovered to $93,000, boosting the value of the company's holdings to over $60.45B., Wall Street analysts believe the stock could double in the next 12 months, with Mizuho predicting a jump to $521.that the stock recently printed a rare "Abandoned Baby" bullish reversal pattern on its daily chart, suggesting the recent downtrend may be running out of steam.SOLMATE TO ACQUIRE ROCKAWAYX IN $2B DEAL:Solana-focused (SOL-USD) digital asset treasuryfirm Solmatehas signed a term sheet. The combination will create an institutional crypto group with more than $2B in assets. The merged entity will fold RockawayX's infrastructure and asset management units into Solmate. The news sent shares of SLMT higher in pre-market action following the news.DEUTSCHE BORSE TAPS KRAKEN AS BNY MELLON AND NASDAQ BACK TOKENIZATION FIRM:Traditional finance continues to bridge the gap with the digital asset world. Deutsche Borsehas, focusing on tokenized stocks and derivatives. Meanwhile, Digital Asset Holdingsincluding Bank of New York Mellonand Nasdaqto support the Canton Network, a blockchain designed for institutional tokenization.CITADEL URGES SEC TO SCRUTINIZE DEFI AS CONNECTICUT TARGETS PREDICTION MARKETS:Tensions regarding regulation remain high., arguing they should face oversight comparable to traditional exchanges. Meanwhile,Coinbase (COIN) CEO Brian Armstrong stated major banks are running pilots with his exchange. On the state level,to Robinhood, Kalshi, and Crypto.com regarding prediction markets.IREN REBOUNDS ON $3.6B RAISE AS AMERICAN BITCOIN CRASHES AND XRP ETFS NEAR $1B:In the mining sector,that shares of IRENrebounded after the company announced a $3.6B capital raise to fund AI expansion. Conversely,reports that American Bitcoinshares cratered 40% as a lockup period expired. In the ETF market,that the new Grayscale chainlinkETF drew $41M in inflows on its debut.PRICE ACTION:As of the time of writing, bitcoinis trading around $93,173.64, while etheris trading near $3,221.31,.