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Metaplanet shares surged 5.5% after the company announced plans for a $500 million share buyback funded through a new credit facility. The Japan-based firm said in a statement today that its board had approved a new capital allocation policy that includes repurchasing shares, pausing equity raises when its market value falls below its Bitcoin net asset value, and optimizing its use of preferred stock. CEO Simon Gerovich said the goal is to “maximize BTC Yield and long-term corporate value.”  While a maximum of $500 million can be allocated to buy back up to about 13% of Metaplanet shares, the company said the credit facility would also provide flexibility for ” Bitcoin acquisitions, and other financing uses.” Metaplanet’s surge today extended its gain over the past week to more than 12%, according to Yahoo Finance, but it remains more than 9% down over the past month. Metaplanet share price (Source: Yahoo Finance ) Metaplanet Plans New Cap...

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The Jupiter price plunged over 8% in the last 24 hours to trade at $0.7769 as of 10:45 p.m. EST as investors dump their holdings in the crypto on the market. This recent drop in the JUP price has pushed the altcoin’s weekly performance into the red zone as well. Jupiter Price Forms A Bearish Channel 4-hour chart for JUP/USD (Source: GeckoTerminal ) The Jupiter price printed a series of lower lows and lower highs over the last couple of days, resulting in the formation of a descending channel on the 4-hour chart, according to GeckoTerminal . Should the altcoin continue to trade within this negative channel for the next 24 hours, JUP might drop below the $0.7913 support and fall to as low as $0.6885. On the other hand, the Jupiter price breaking out above the upper boundary of the descending channel in the next 8 hours could invalidate the bearish thesis. In this more bullish scenario, the crypto might try to flip the $0.8770 resistance into support. A 4-hour candle close abo...