Category: crypto

Sui price is currently at $3.13, down 3.5% in 24 hours, approaching key support levels. Despite a recent drop of 18% in the past week, new partnerships with t’order, CUDIS Wellness, and Google AI suggest long-term strength. Trading volume is up, but caution is observed with open interest falling and futures volume rising.

Suspicious withdrawals from Hypervault have raised concerns of a rug pull, with $3.6 million in crypto assets quickly moved out of the platform. The funds were transferred to Tornado Cash, fueling fears of an exit scam. This incident highlights the risks of rug pulls in decentralized finance, with previous cases causing significant investor losses.

R2 Protocol launched its Ethereum mainnet on Sept. 26 with two flagship vaults backed by major institutions. Users criticized the rewards program that required depositing USDC to unlock 100 R2 tokens. The protocol defended the requirement, stating it was necessary for growing Total Value Locked and securing better institutional offers.

Bitfinex analysts are warning about a $18 billion worth of Bitcoin options expiring this week, which will likely suppress volatility. Market makers may sell spot BTC due to the expiry. Historical data shows that large expiries suppress volatility before leading to a clear directional move in the following days.

Stocks rose as Dow jumped over 350 points in reaction to U.S. inflation data showing a 0.29% increase in the personal consumption expenditures price index for August. Wall Street was higher after three days of losses, with gains across major U.S. stock market indices as investors expect rate cuts and a positive economic outlook.

The U.K. banking sector is launching a live pilot of tokenized sterling deposits with major banks, aiming to modernize the country’s financial system using distributed ledger technology. The pilot will focus on marketplace payments, remortgaging, and digital asset settlement, with a goal of reducing fraud and increasing transaction speed.

Plasma’s stablecoin blockchain token quickly reached a $2.5 billion market cap after forming a partnership with Tether. The network focuses on fast and low-cost stablecoin transactions, attracting attention from traders. Plasma’s links to Tether and backing from Bitfinex have contributed to its rapid growth and valuation.

Inflation is rising, causing concern among traders about the Fed’s response in the face of economic uncertainty. The PCE price index increased by 2.7% in August, leading to profit-taking by institutions. This has contributed to a decline in the crypto market, with Bitcoin falling below $110,000. The Fed’s potential shift away from rate cuts due…

Vanguard is reportedly planning to allow brokerage clients access to third-party crypto ETFs, reversing its previous ban. This shift comes in response to client demand and changing regulations under new CEO Salim Ramji. Vanguard has no plans to launch its own crypto products.

R2 Protocol launched its mainnet on Ethereum, offering a decentralized yield platform for real-world assets. However, their account on X was suspended just after the launch. This comes amidst X’s investigation into a bribery network involving crypto scams. The suspension raises questions about the future of R2 Protocol.