Why BlockDAG's Presale Overshadows AVAX, SHIB's Crypto Comeback

The cryptocurrency market is witnessing a surge in activity as BlockDAG's $430 million presale fuels speculation about its $600 million fundraising goal, while Kraken and Coinbase leaks overshadow recovery trends in Avalanche (AVAX) and Shiba Inu (SHIB). The latter two tokens are regaining traction amid broader market optimism, but BlockDAG's potential exchange listings and technical advancements have captured significant investor attention, according to The Crypto Updates article.

BlockDAG, a hybrid Layer-1 blockchain, has sold over 27 billion tokens at $0.0015 in its final presale batch, with 312,000+ holders and 3.5 million X1 app miners contributing to its growing infrastructure, according to a CryptoNewsLand report. The project's Genesis Day, scheduled for November 26, will unlock presale rewards and pave the way for exchange listings. Recent viral claims by influencers Crypto Rover and MartiniGuyYT suggesting imminent listings on Kraken and Coinbase have intensified demand, with investors racing to secure allocations before the projected $0.05 listing price.

Kraken, meanwhile, is preparing for its own milestone. The exchange secured $500 million in a September funding round led by Apollo Global Management, Oppenheimer, and HSG (formerly Sequoia Capital China), valuing it at $15 billion, according to a TradingView report. This follows a record-breaking third quarter, with revenue surging to $648 million—a 114% year-over-year increase, according to a Yahoo Finance report. Kraken's co-CEO Arjun Sethi and venture firm Tribe Capital also participated in the round, according to a Reuters report, signaling confidence in its expansion plans, including the acquisition of NinjaTrader and the Small Exchange to build a U.S.-based derivatives platform. The exchange aims to file for an IPO by year-end, targeting a Q1 2026 public debut.

Avalanche (AVAX) and Shiba Inu (SHIB) are showing cautious optimism. AVAX has rebounded to $38.20 after testing key support levels, with analysts anticipating a potential breakout above $40. Its expanding DeFi ecosystem and Subnet growth have attracted institutional developers, though attention remains split as BlockDAG's listing rumors dominate social media. SHIB, trading near $0.000028, has seen a 5% weekly gain but faces bearish technical indicators, including a descending triangle pattern that could push its price to $0.000006 if support fails, according to a Coinpaper analysis. Whale accumulation and Shibarium's Layer-2 network offer long-term optimism, but short-term volatility persists.

The market's focus, however, remains on BlockDAG's potential exchange listings. A confirmed presence on Kraken and Coinbase would provide immediate liquidity and institutional credibility, a rare feat for a project still in its presale phase. BlockDAG's EVM compatibility, 2,000–15,000 TPS throughput, and audits by CertiK and Halborn further solidify its appeal. As Genesis Day approaches, the race to secure presale allocations intensifies, with investors positioning for a potential leap into mainstream adoption.