[Analyst says wait for a pullback rather than chase XRP’s rebound]
Vandell Aljarrah, co-founder of crypto investment analysis and consulting platform Black Swan Capitalist, said investors may be better off waiting for a further pullback rather than chasing XRP’s recent rebound, according to The Crypto Basic. Aljarrah said investors who have not accumulated as much XRP as they wanted should avoid getting swept up in the rally and instead look for a better entry point if the token corrects again. The outlet added that any further pullback would not necessarily mean a return to the August low of $0.978. XRP was trading at $1.59, up 23.96% over the past week, according to CoinMarketCap.
https://coinness.com/en/news/1169644
Vandell Aljarrah, co-founder of crypto investment analysis and consulting platform Black Swan Capitalist, said investors may be better off waiting for a further pullback rather than chasing XRP’s recent rebound, according to The Crypto Basic. Aljarrah said investors who have not accumulated as much XRP as they wanted should avoid getting swept up in the rally and instead look for a better entry point if the token corrects again. The outlet added that any further pullback would not necessarily mean a return to the August low of $0.978. XRP was trading at $1.59, up 23.96% over the past week, according to CoinMarketCap.
https://coinness.com/en/news/1169644
CoinNess
Analyst says wait for a pullback rather than chase XRP’s rebound - CoinNess
Vandell Aljarrah, co-founder of crypto investment analysis and consulting platform Black Swan Capitalist, said investors may be better off waiting for a further...
[BTC spot CVD chart at 10:00 a.m. UTC on Sept. 23]
The spot CVD chart is an order book analysis chart for the BTC/USDT spot trading pair. The top panel shows the volume heatmap, while the bottom panel shows cumulative volume delta, or CVD.
- The volume heatmap in the top panel tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance levels.
- The cumulative volume delta indicator in the bottom panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.
https://coinness.com/en/news/1169645
The spot CVD chart is an order book analysis chart for the BTC/USDT spot trading pair. The top panel shows the volume heatmap, while the bottom panel shows cumulative volume delta, or CVD.
- The volume heatmap in the top panel tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance levels.
- The cumulative volume delta indicator in the bottom panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.
https://coinness.com/en/news/1169645
CoinNess
BTC spot CVD chart at 10:00 a.m. UTC on Sept. 23 - CoinNess
The spot CVD chart is an order book analysis chart for the BTC/USDT spot trading pair. The top panel shows the volume heatmap, while the bottom panel shows cumu...
[Zest Protocol unveils mainnet prototype for BTC-backed stablecoin loans]
Bitcoin lending protocol Zest Protocol has unveiled a mainnet prototype for BTC-collateralized lending. Users can borrow stablecoins on EVM chains such as Ethereum while keeping BTC deposited in Bitcoin mainnet vaults, without wrapping the asset or bridging it to another chain.
https://coinness.com/en/news/1169646
Bitcoin lending protocol Zest Protocol has unveiled a mainnet prototype for BTC-collateralized lending. Users can borrow stablecoins on EVM chains such as Ethereum while keeping BTC deposited in Bitcoin mainnet vaults, without wrapping the asset or bridging it to another chain.
https://coinness.com/en/news/1169646
CoinNess
Zest Protocol unveils mainnet prototype for BTC-backed stablecoin loans - CoinNess
Bitcoin lending protocol Zest Protocol has unveiled a mainnet prototype for BTC-collateralized lending. Users can borrow stablecoins on EVM chains such as Ether...
[Bitcoin nears first 3-month monthly winning streak since 2012]
Bitcoin was up 10.9% in September, following gains of 4.8% in July and 25.2% in August, putting it on track for three straight monthly advances, CoinDesk reported.
If Bitcoin closes September higher, it will mark the first three-month winning streak since 2012. After posting consecutive gains from July through September in 2012, BTC saw a 9.7% pullback in October, but then rose more than 2,000% over the following 165 days.
https://coinness.com/en/news/1169647
Bitcoin was up 10.9% in September, following gains of 4.8% in July and 25.2% in August, putting it on track for three straight monthly advances, CoinDesk reported.
If Bitcoin closes September higher, it will mark the first three-month winning streak since 2012. After posting consecutive gains from July through September in 2012, BTC saw a 9.7% pullback in October, but then rose more than 2,000% over the following 165 days.
https://coinness.com/en/news/1169647
CoinNess
Bitcoin nears first 3-month monthly winning streak since 2012 - CoinNess
Bitcoin was up 10.9% in September, following gains of 4.8% in July and 25.2% in August, putting it on track for three straight monthly advances, CoinDesk report...
[Kalshi seeks rules ahead of launch for stock-based perpetual futures]
Prediction market platform Kalshi is preparing to launch Perpetual SFPs, or perpetual futures tied to individual stocks, and has moved to establish listing and trading rules for the products.
According to the Federal Register, Kalshi submitted a proposed rule change to the U.S. SEC on Sept. 18 covering listing and trading standards for the products, and also applied to the U.S. CFTC for approval the same day. The CFTC has not yet approved the proposal. Eligible stocks must have a market capitalization of at least $100 billion, an average daily trading value of at least $450 million over the past six months, and more than 20 million shares available to the market. After listing, maintenance requirements including a $50 billion market capitalization and an average daily trading value of $200 million in the previous quarter would apply. Trading would take place on the Kalshi platform, while clearing would be handled by Klear, a CFTC-registered entity.
https://coinness.com/en/news/1169648
Prediction market platform Kalshi is preparing to launch Perpetual SFPs, or perpetual futures tied to individual stocks, and has moved to establish listing and trading rules for the products.
According to the Federal Register, Kalshi submitted a proposed rule change to the U.S. SEC on Sept. 18 covering listing and trading standards for the products, and also applied to the U.S. CFTC for approval the same day. The CFTC has not yet approved the proposal. Eligible stocks must have a market capitalization of at least $100 billion, an average daily trading value of at least $450 million over the past six months, and more than 20 million shares available to the market. After listing, maintenance requirements including a $50 billion market capitalization and an average daily trading value of $200 million in the previous quarter would apply. Trading would take place on the Kalshi platform, while clearing would be handled by Klear, a CFTC-registered entity.
https://coinness.com/en/news/1169648
CoinNess
Kalshi seeks rules ahead of launch for stock-based perpetual futures - CoinNess
Prediction market platform Kalshi is preparing to launch Perpetual SFPs, or perpetual futures tied to individual stocks, and has moved to establish listing and ...
[BCH fallen 4.20% in the past 5 minutes]
BCH has fallen by 4.20% in the past five minutes on the COINNESS market. Currently, BCH is trading at $348.28.
https://coinness.com/en/news/1169649
BCH has fallen by 4.20% in the past five minutes on the COINNESS market. Currently, BCH is trading at $348.28.
https://coinness.com/en/news/1169649
CoinNess
BCH fallen 4.20% in the past 5 minutes - CoinNess
BCH has fallen by 4.20% in the past five minutes on the COINNESS market. Currently, BCH is trading at $348.28.
[UNI fallen 3.85% in the past 5 minutes]
UNI has fallen by 3.85% in the past five minutes on the COINNESS market. Currently, UNI is trading at $9.6.
https://coinness.com/en/news/1169650
UNI has fallen by 3.85% in the past five minutes on the COINNESS market. Currently, UNI is trading at $9.6.
https://coinness.com/en/news/1169650
CoinNess
UNI fallen 3.85% in the past 5 minutes - CoinNess
UNI has fallen by 3.85% in the past five minutes on the COINNESS market. Currently, UNI is trading at $9.6.
[BTC may see profit-taking near $90K, but pullback would fit uptrend]
Bitcoin may face heavier profit-taking as it approaches $90,000, but any such move would likely be a natural correction within an uptrend rather than a trend reversal, CryptoQuant said, according to Cointelegraph. The analytics firm said the average cost basis for BTC moved within the past one to three months was $64,300, and the upper price zone where profit-taking could increase was around $90,300. That area overlaps with an on-chain supply cluster at $88,000-$90,000, which it identified as the next major resistance zone. Even if selling pressure rises there, CryptoQuant said it would not necessarily mean the uptrend has broken. From the current price of $86,000, the firm added, there appears to be little clear resistance before that zone, while technical indicators, valuation metrics and on-chain data continue to point to a bull market.
https://coinness.com/en/news/1169651
Bitcoin may face heavier profit-taking as it approaches $90,000, but any such move would likely be a natural correction within an uptrend rather than a trend reversal, CryptoQuant said, according to Cointelegraph. The analytics firm said the average cost basis for BTC moved within the past one to three months was $64,300, and the upper price zone where profit-taking could increase was around $90,300. That area overlaps with an on-chain supply cluster at $88,000-$90,000, which it identified as the next major resistance zone. Even if selling pressure rises there, CryptoQuant said it would not necessarily mean the uptrend has broken. From the current price of $86,000, the firm added, there appears to be little clear resistance before that zone, while technical indicators, valuation metrics and on-chain data continue to point to a bull market.
https://coinness.com/en/news/1169651
CoinNess
BTC may see profit-taking near $90K, but pullback would fit uptrend - CoinNess
Bitcoin may face heavier profit-taking as it approaches $90,000, but any such move would likely be a natural correction within an uptrend rather than a trend re...
[BitMEX formally shuts exchange after 11 years, keeps withdrawals open]
Crypto derivatives exchange BitMEX has formally ended exchange operations after 11 years, CoinDesk reported. Trading, deposits and new position openings were halted from 4:00 a.m. UTC on Sept. 22, while users can continue withdrawing existing balances.
Founded in 2014 by Arthur Hayes and others, BitMEX is considered one of the exchanges that pioneered crypto perpetual futures trading. In July, BitMEX announced plans to wind down services following a strategic review by parent company HDR Global Trading.
https://coinness.com/en/news/1169652
Crypto derivatives exchange BitMEX has formally ended exchange operations after 11 years, CoinDesk reported. Trading, deposits and new position openings were halted from 4:00 a.m. UTC on Sept. 22, while users can continue withdrawing existing balances.
Founded in 2014 by Arthur Hayes and others, BitMEX is considered one of the exchanges that pioneered crypto perpetual futures trading. In July, BitMEX announced plans to wind down services following a strategic review by parent company HDR Global Trading.
https://coinness.com/en/news/1169652
CoinNess
BitMEX formally shuts exchange after 11 years, keeps withdrawals open - CoinNess
Crypto derivatives exchange BitMEX has formally ended exchange operations after 11 years, CoinDesk reported. Trading, deposits and new position openings were ha...
[FATF says Turkish crypto firms understand AML rules but lag in implementation]
The Financial Action Task Force said Türkiye’s virtual asset service providers generally have a solid understanding of money laundering risks and related compliance obligations, while authorities are stepping up supervision based on risk levels. It added, however, that implementation remains lacking in areas including procedures to identify and manage politically exposed persons and the filing of suspicious transaction reports. FATF also said Türkiye’s regulatory framework for virtual asset service providers was still in the early stages of implementation at the time of its on-site review.
https://coinness.com/en/news/1169653
The Financial Action Task Force said Türkiye’s virtual asset service providers generally have a solid understanding of money laundering risks and related compliance obligations, while authorities are stepping up supervision based on risk levels. It added, however, that implementation remains lacking in areas including procedures to identify and manage politically exposed persons and the filing of suspicious transaction reports. FATF also said Türkiye’s regulatory framework for virtual asset service providers was still in the early stages of implementation at the time of its on-site review.
https://coinness.com/en/news/1169653
CoinNess
FATF says Turkish crypto firms understand AML rules but lag in implementation - CoinNess
The Financial Action Task Force said Türkiye’s virtual asset service providers generally have a solid understanding of money laundering risks and related com...
[Strive CEO says ASST has outperformed BTC by over 100 percentage points this year]
Matt Cole, CEO of Bitcoin treasury company Strive (ASST), said ASST stock has outperformed Bitcoin by more than 100 percentage points this year while BTC has been თითქმის flat, according to BitcoinTreasuries. Cole said the company’s model is creating a virtuous cycle in which it can keep buying Bitcoin while delivering BTC-linked returns to shareholders.
https://coinness.com/en/news/1169654
Matt Cole, CEO of Bitcoin treasury company Strive (ASST), said ASST stock has outperformed Bitcoin by more than 100 percentage points this year while BTC has been თითქმის flat, according to BitcoinTreasuries. Cole said the company’s model is creating a virtuous cycle in which it can keep buying Bitcoin while delivering BTC-linked returns to shareholders.
https://coinness.com/en/news/1169654
CoinNess
Strive CEO says ASST has outperformed BTC by over 100 percentage points this year - CoinNess
Matt Cole, CEO of Bitcoin treasury company Strive (ASST), said ASST stock has outperformed Bitcoin by more than 100 percentage points this year while BTC has be...
[Zest Protocol unveils mainnet demo for BTC-backed lending]
Bitcoin-backed lending protocol Zest Protocol announced the release of a mainnet demo for its Bitcoin-collateralized vault. Users can deposit native BTC into a Bitcoin Layer 1 vault and borrow USDC on Ethereum against that collateral. The BTC remains on the Bitcoin network without wrapping or bridging, and the vault is structured for users to manage directly. With the launch, Zest Protocol said it is positioning the project as "Bitcoin's Capital Layer."
https://coinness.com/en/news/1169655
Bitcoin-backed lending protocol Zest Protocol announced the release of a mainnet demo for its Bitcoin-collateralized vault. Users can deposit native BTC into a Bitcoin Layer 1 vault and borrow USDC on Ethereum against that collateral. The BTC remains on the Bitcoin network without wrapping or bridging, and the vault is structured for users to manage directly. With the launch, Zest Protocol said it is positioning the project as "Bitcoin's Capital Layer."
https://coinness.com/en/news/1169655
CoinNess
Zest Protocol unveils mainnet demo for BTC-backed lending - CoinNess
Bitcoin-backed lending protocol Zest Protocol announced the release of a mainnet demo for its Bitcoin-collateralized vault. Users can deposit native BTC into a ...
[Solana RWA value tops $4.6B to hit record high]
The value of real-world assets on the Solana (SOL) ecosystem has surpassed $4.6 billion, reaching a record high, Solana said, citing data from RWA.xyz.
https://coinness.com/en/news/1169656
The value of real-world assets on the Solana (SOL) ecosystem has surpassed $4.6 billion, reaching a record high, Solana said, citing data from RWA.xyz.
https://coinness.com/en/news/1169656
CoinNess
Solana RWA value tops $4.6B to hit record high - CoinNess
The value of real-world assets on the Solana (SOL) ecosystem has surpassed $4.6 billion, reaching a record high, Solana said, citing data from RWA.xyz.
[Hashgraph Group lists AI identity solution on IBM Cloud, signs global partnership]
Hedera-based enterprise software developer The Hashgraph Group (THG) has listed its AI agent identity verification solution IDTrust on the IBM Cloud Catalog and entered into a global partnership with IBM, Investing.com reported.
IDTrust assigns verifiable digital identities to AI agents, devices and people, allowing users to confirm whether an agent is in fact acting under delegated authority. Through the partnership, THG will be able to integrate IBM’s cloud and AI technologies into its products. IDTrust is currently being used by a European telecom provider to verify caller identity.
https://coinness.com/en/news/1169657
Hedera-based enterprise software developer The Hashgraph Group (THG) has listed its AI agent identity verification solution IDTrust on the IBM Cloud Catalog and entered into a global partnership with IBM, Investing.com reported.
IDTrust assigns verifiable digital identities to AI agents, devices and people, allowing users to confirm whether an agent is in fact acting under delegated authority. Through the partnership, THG will be able to integrate IBM’s cloud and AI technologies into its products. IDTrust is currently being used by a European telecom provider to verify caller identity.
https://coinness.com/en/news/1169657
CoinNess
Hashgraph Group lists AI identity solution on IBM Cloud, signs global partnership - CoinNess
Hedera-based enterprise software developer The Hashgraph Group (THG) has listed its AI agent identity verification solution IDTrust on the IBM Cloud Catalog and...
[Overseas whales led BTC’s recent rebounds, signaling a bullish cycle shift]
CryptoQuant contributor Crypto Dan said Bitcoin’s two recent strong rebounds were led by overseas whales rather than retail investor funds. Crypto Dan said this suggests market sentiment is shifting from a bearish cycle to a bullish one, adding the latest rebound may be more likely than previous ones to develop into a trend reversal.
https://coinness.com/en/news/1169658
CryptoQuant contributor Crypto Dan said Bitcoin’s two recent strong rebounds were led by overseas whales rather than retail investor funds. Crypto Dan said this suggests market sentiment is shifting from a bearish cycle to a bullish one, adding the latest rebound may be more likely than previous ones to develop into a trend reversal.
https://coinness.com/en/news/1169658
CoinNess
Overseas whales led BTC’s recent rebounds, signaling a bullish cycle shift - CoinNess
CryptoQuant contributor Crypto Dan said Bitcoin’s two recent strong rebounds were led by overseas whales rather than retail investor funds. Crypto Dan said th...
[Malware found in some iOS versions of crypto trading platform FOMO app]
Blockchain security firm SlowMist found cryptocurrency-stealing malware in some iOS versions of crypto trading platform FOMO’s app listed on Apple’s App Store, Protos reported. The affected versions were distributed from Sept. 9 to Sept. 17, and the malware may have exposed seed phrases and private keys, according to the analysis.
SlowMist warned simply deleting or updating the app may not be sufficient, adding users who used the app during that period should consider the possibility that sensitive information, including private keys, was compromised.
https://coinness.com/en/news/1169659
Blockchain security firm SlowMist found cryptocurrency-stealing malware in some iOS versions of crypto trading platform FOMO’s app listed on Apple’s App Store, Protos reported. The affected versions were distributed from Sept. 9 to Sept. 17, and the malware may have exposed seed phrases and private keys, according to the analysis.
SlowMist warned simply deleting or updating the app may not be sufficient, adding users who used the app during that period should consider the possibility that sensitive information, including private keys, was compromised.
https://coinness.com/en/news/1169659
CoinNess
Malware found in some iOS versions of crypto trading platform FOMO app - CoinNess
Blockchain security firm SlowMist found cryptocurrency-stealing malware in some iOS versions of crypto trading platform FOMO’s app listed on Apple’s App Sto...
[Crypto market cap tops $3T for first time since January as BTC clears ETF cost basis]
The global cryptocurrency market capitalization has climbed back above $3 trillion for the first time since January, Bloomberg reported, citing CoinGecko data. Bitcoin has also moved above the average purchase price of U.S. spot ETFs, pushing the group as a whole into unrealized profit.
Chris Weston, head of research at brokerage Pepperstone, estimated the average purchase price of BTC held by U.S. spot Bitcoin ETFs at about $82,000. Paul Howard, senior director at trading firm Wincent, said ETF inflows are supporting the $80,000-$85,000 range, making the current rally look increasingly sustainable, and added that a $100,000 year-end target is now coming into view.
https://coinness.com/en/news/1169660
The global cryptocurrency market capitalization has climbed back above $3 trillion for the first time since January, Bloomberg reported, citing CoinGecko data. Bitcoin has also moved above the average purchase price of U.S. spot ETFs, pushing the group as a whole into unrealized profit.
Chris Weston, head of research at brokerage Pepperstone, estimated the average purchase price of BTC held by U.S. spot Bitcoin ETFs at about $82,000. Paul Howard, senior director at trading firm Wincent, said ETF inflows are supporting the $80,000-$85,000 range, making the current rally look increasingly sustainable, and added that a $100,000 year-end target is now coming into view.
https://coinness.com/en/news/1169660
CoinNess
Crypto market cap tops $3T for first time since January as BTC clears ETF cost basis - CoinNess
The global cryptocurrency market capitalization has climbed back above $3 trillion for the first time since January, Bloomberg reported, citing CoinGecko data. ...
[PlanB outlines BTC bull-case scenario above $232K by 2028]
Bitcoin analyst PlanB said on X that a late-stage bull-case scenario for the current halving cycle points to BTC reaching $100,000 in October, a record high above $126,000 before Christmas, and more than $232,000 in 2027-2028.
PlanB stressed this was a scenario rather than a prediction. As bearish scenarios, PlanB cited a war between Europe and Russia, a nuclear war between Iran and Israel, and a breakthrough in quantum computing technology, adding that BTC could fall below $50,000, $40,000, and $30,000, respectively.
https://coinness.com/en/news/1169661
Bitcoin analyst PlanB said on X that a late-stage bull-case scenario for the current halving cycle points to BTC reaching $100,000 in October, a record high above $126,000 before Christmas, and more than $232,000 in 2027-2028.
PlanB stressed this was a scenario rather than a prediction. As bearish scenarios, PlanB cited a war between Europe and Russia, a nuclear war between Iran and Israel, and a breakthrough in quantum computing technology, adding that BTC could fall below $50,000, $40,000, and $30,000, respectively.
https://coinness.com/en/news/1169661
CoinNess
PlanB outlines BTC bull-case scenario above $232K by 2028 - CoinNess
Bitcoin analyst PlanB said on X that a late-stage bull-case scenario for the current halving cycle points to BTC reaching $100,000 in October, a record high abo...
[Aave founder clarifies V4 misconceptions, says markets isolate risk and share liquidity]
Aave founder Stani Kulechov addressed several misconceptions about Aave V4 in a post on X. Responding to claims that V4 does not isolate risk by market, Kulechov said hubs and spokes are separated by risk level by default, while each spoke lending market can share liquidity through the hub within predefined limits.
He also pushed back on criticism that the hub-and-spoke structure fragments liquidity, saying the design instead lets multiple markets share liquidity to improve capital efficiency. On claims that V4 is no different from curated vaults, Kulechov said new spokes can use liquidity from the hub without having to bootstrap separate liquidity from scratch. He added that V4 currently has $1.2 billion in deposits and has been deployed on Ethereum, Avalanche and Arc.
https://coinness.com/en/news/1169662
Aave founder Stani Kulechov addressed several misconceptions about Aave V4 in a post on X. Responding to claims that V4 does not isolate risk by market, Kulechov said hubs and spokes are separated by risk level by default, while each spoke lending market can share liquidity through the hub within predefined limits.
He also pushed back on criticism that the hub-and-spoke structure fragments liquidity, saying the design instead lets multiple markets share liquidity to improve capital efficiency. On claims that V4 is no different from curated vaults, Kulechov said new spokes can use liquidity from the hub without having to bootstrap separate liquidity from scratch. He added that V4 currently has $1.2 billion in deposits and has been deployed on Ethereum, Avalanche and Arc.
https://coinness.com/en/news/1169662
CoinNess
Aave founder clarifies V4 misconceptions, says markets isolate risk and share liquidity - CoinNess
Aave founder Stani Kulechov addressed several misconceptions about Aave V4 in a post on X. Responding to claims that V4 does not isolate risk by market, Kulecho...
[Primus launches Kaito creator campaign with 0.3% of PRIM supply in rewards]
Decentralized data verification and compute network Primus announced the launch of a Kaito creator campaign focused on privacy and verification infrastructure for institutional on-chain finance.
The campaign will allocate rewards equal to 0.3% of PRIM’s total token supply, with separate reward pools for participants in English, Chinese and Korean. Primus also runs the "Primus Points" program, which lets users earn XP by taking part in new verification activities each week.
https://coinness.com/en/news/1169663
See more: https://x.com/primus_labs/status/2102370522692722842?s=46&t=o5c4iTwzWER8tNdFEmAr1Q
Decentralized data verification and compute network Primus announced the launch of a Kaito creator campaign focused on privacy and verification infrastructure for institutional on-chain finance.
The campaign will allocate rewards equal to 0.3% of PRIM’s total token supply, with separate reward pools for participants in English, Chinese and Korean. Primus also runs the "Primus Points" program, which lets users earn XP by taking part in new verification activities each week.
https://coinness.com/en/news/1169663
See more: https://x.com/primus_labs/status/2102370522692722842?s=46&t=o5c4iTwzWER8tNdFEmAr1Q
CoinNess
Primus launches Kaito creator campaign with 0.3% of PRIM supply in rewards - CoinNess
Decentralized data verification and compute network Primus announced the launch of a Kaito creator campaign focused on privacy and verification infrastructure f...
[Galaxy Digital buys $100M in sUSDS for institutional lending collateral]
Galaxy Digital (GLXY) bought $100 million worth of sUSDS, the yield-bearing stablecoin from DeFi platform Sky (SKY), formerly MakerDAO, The Block reported. Galaxy added the asset to its treasury and also adopted it as collateral for its institutional lending and trading businesses.
The purchase was funded with the company’s own capital. Galaxy also separately accumulated SKY tokens, although it did not disclose the amount. With the addition, institutional clients can post sUSDS as collateral with Galaxy to obtain loans while continuing to receive Sky Savings Rate interest on the full amount of collateral during the loan term. Galaxy and Sky are also discussing ways to expand an existing $500 million funding limit for institutional lending.
https://coinness.com/en/news/1169664
Galaxy Digital (GLXY) bought $100 million worth of sUSDS, the yield-bearing stablecoin from DeFi platform Sky (SKY), formerly MakerDAO, The Block reported. Galaxy added the asset to its treasury and also adopted it as collateral for its institutional lending and trading businesses.
The purchase was funded with the company’s own capital. Galaxy also separately accumulated SKY tokens, although it did not disclose the amount. With the addition, institutional clients can post sUSDS as collateral with Galaxy to obtain loans while continuing to receive Sky Savings Rate interest on the full amount of collateral during the loan term. Galaxy and Sky are also discussing ways to expand an existing $500 million funding limit for institutional lending.
https://coinness.com/en/news/1169664
CoinNess
Galaxy Digital buys $100M in sUSDS for institutional lending collateral - CoinNess
Galaxy Digital (GLXY) bought $100 million worth of sUSDS, the yield-bearing stablecoin from DeFi platform Sky (SKY), formerly MakerDAO, The Block reported. Gala...