Author: Kryptonews
Bitcoin slipped below the $88,000 level on Sunday as crypto markets weakened in thin weekend trading, extending a pullback that has weighed on the crypto market over the past week.BTC traded around $87,800 in U.S. afternoon hours, down roughly 2% over 24 hours, according to CoinDesk data. Ether fell toward $2,880, while solana, XRP and cardano each posted losses of between 3% and 5% on the day. Most major tokens have remained sharply down over the past seven days, reflecting the fragile sentiment across the market.Bitcoin price action (CoinDesk) The move caused $224 million in liquidations on bullish bets in…
XRP sank nearly 4% as bitcoin dropped under the $88,000 mark on Sunday, ahead of a busy week with the Federal Reserve’s two-day FOMC meeting starting on Wednesday and major technology players announcing earnings.News backgroundThe consolidation came as spot XRP ETFs recorded their first meaningful weekly outflows since launch, totaling roughly $40.6 million, signaling near-term institutional profit-taking rather than fresh risk-on positioning.There were no negative developments around Ripple or the XRP Ledger during the period. Ripple’s regulatory standing and payments use case remain intact, leaving price action driven primarily by market structure, positioning, and reduced participation rather than fundamentals.Price action…
Solana Mobile, a subsidiary of Solana Labs, the organization behind the Solana blockchain, has launched a token airdrop for holders of its Web3 smartphone, Solana Seeker.The Seeker (SKR) token, the utility and governance asset of the Solana Mobile ecosystem, went live on Wednesday, the company said in a post on X.Users of the Solana Seeker smartphone have 90 days to claim airdropped SKR tokens, which can be staked to earn rewards.The airdrop is available to at least 100,000 users and 188 developers, with almost 2 billion SKR tokens distributed to the community through the launch, worth about $26.6 million at…
Strive (ASST), a bitcoin treasury and asset management company, is using perpetual preferred equity to retire convertible debt and restructure its balance sheet, a method that could offer a template for Strategy (MSTR) in the future.On Thursday, the company priced a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock SATA, at $90 per share. The transaction was upsized beyond the initially announced $150 million to allow for the issuance of up to 2.25 million SATA shares in aggregate, combining public issuance with privately negotiated debt exchanges.Strive said it intends to use the net proceeds to pay down…
The hashrate of FoundryUSA, a digital asset advisory firm with the world’s largest Bitcoin (BTC) mining pool, has curtailed its hashrate by about 60% since Friday in response to the severe winter storm impacting large swaths of the United States.“Bitcoin hashrate on FoundryUSA alone is down by nearly 200 exahashes per second (EH/s), or 60%, since Friday amid continued curtailment. Temporary block production has slowed down to 12 minutes,” according to TheMinerMag. FoundryUSA still commands about 198 (EH/s) of hashing power, accounting for about 23% of the global mining pool hashrate, data from Hashrate Index shows. A breakdown of hashing power…
The Minneapolis Institute of Art, the city’s leading art museum, announced on Sunday that it would remain closed on Sunday “for the safety of staff and visitors,” according to a statement posted to Instagram. The institution was one of many in the city to close on Friday as part of the Day of Truth and Freedom, a statewide protest organized in response to US Immigration and Customs Enforcement operations in Minnesota communities in recent weeks. On Saturday, during an ICE operation, a Border Patrol agent shot and killed Alex Jeffrey Pretti, a 37-year-old ICU nurse, in Minneapolis. After the shooting,…
World Liberty Financial, the crypto project associated with the family of US President Donald Trump, has entered a partnership with satellite startup Spacecoin to explore how decentralized finance could operate over space-based internet infrastructure. Key Takeaways: World Liberty Financial is partnering with Spacecoin to explore DeFi over satellite internet. The USD1 stablecoin is positioned for payments in remote and underserved regions. The move supports the project’s broader effort to expand USD1’s global use. In a blog post published Thursday, Spacecoin said the collaboration includes a token swap between the two projects, though financial terms were not disclosed.The companies said the…
The biggest threat to the Bitcoin network is “ambitious opportunists” who want to push through protocol changes, according to Michael Saylor, the co-founder of Bitcoin (BTC) treasury company Strategy.Saylor’s comments sparked a debate online. Bitcoin maximalist Justin Bechler said the comments were directed toward software developers pushing for non-monetary use cases on Bitcoin, such as non-fungible tokens (NFTs) and onchain images in blocks. Source: Michael Saylor“The greatest risk to Bitcoin is quantum,” investor Fred Krueger said, while others like Mert Mumtaz, the CEO of remote procedure call (RPC) node provider Helius, disagreed with Saylor. Mumtaz said:“Absolute cancer of a mindset.…
Solana’s latest phase looks a lot less flashy than its memecoin-fueled highs, and that may be the goal.Armani Ferrante, CEO of crypto exchange Backpack, told CoinDesk in an interview the Solana ecosystem has spent the past year doubling down on a more sober focus: financial infrastructure. After years of experimentation as the wider crypto industry focused on NFTs, games and social tokens, attention is now shifting back toward decentralized finance, trading and payments.“People are really starting to think about blockchains as a new kind of financial infrastructure,” Ferrante, who will be speaking at CoinDesk’s Consensus Hong Kong conference next month,…
Bitcoin ETFs recorded $1.33 billion in net outflows during the week ending January 23 and had the second-largest weekly redemption on record. Summary Bitcoin ETFs saw $1.33B in outflows, the second-largest weekly redemption on record. Ethereum ETFs followed with $611M in withdrawals, led by BlackRock’s ETHA. Solana ETFs stayed positive with inflows, while XRP saw its first weekly outflow. The exodus reversed the previous week’s $1.42 billion inflow, as institutional investors reduced crypto exposure amid market volatility. Ethereum spot ETFs followed with $611.17 million in weekly outflows, led by BlackRock’s ETHA which posted $432 million in redemptions. XRP spot ETFs…
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