Track market-moving stories before they get noisy

Mirror Token (MIR) is the native token of the protocol that aims to secure the ecosystem.

What is Mirror Protocol (MIR)?Mirror Protocol (MIR) is a DeFi protocol supported by smart contracts that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price movements of real-world assets and provide investors worldwide with open access to prices without the burden of owning and trading actual assets. The production of mAssets is decentralized, carried out by network users by opening a position or depositing collateral.

Mirror ensures that there is always enough collateral to cover mAssets within the protocol. It also manages markets by listing mAssets with the USDT trading pair on Terraswap. Mirror Token (MIR) is produced by the protocol. MIR is used as a reward to power operations that secure the ecosystem. Additionally, Mirror provides liquid mAsset markets by rewarding users who stake LP tokens obtained by providing liquidity with MIR rewards. Mirror is a project developed and managed by its community. The Mirror protocol is protected by its users through MIR incentives. In this context, the project is developed with an open-minded approach to new ideas through a democratic and fair governance path.

Mirror Protocol is a cross-chain DeFi protocol. It can interact with other decentralized applications on multiple blockchains. Terra Blockchain, built on Mirror Protocol, uses the Shuttle bridge to provide cross-chain transfers between Terra, Ethereum, and Binance Smart Chain. The Terra Bridge application provides a web interface for transferring tokens between different blockchains.

Where to Buy MIR Coin?MIR Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. Mirror Protocol Coin is traded on the Binance platform in the MIR/BTC, MIR/BUSD, and MIR/USDT pairs. At the time of preparing this guide, MIR Coin is trading at $3.86.

To purchase MIR, you must first register on the Binance exchange. Upon completing the registration, you need to transfer cryptocurrency or fiat currency to your Binance account wallet. After completing the transfer, you can purchase MIR Coin from any of the three pairs mentioned above. To buy from the MIR/USDT trading pair, you should first go to the interface of this pair. In the limit tab, enter the amount you want to purchase in the specified area. After specifying the amount, complete the purchase by placing a Buy MIR order.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

TLDR:  Do Kwon misled investors about TerraUSD and LUNA, causing $40B in losses. Terraform’s Luna Foundation Guard was controlled secretly by Kwon, not independent. Mirror Protocol and Chai blockchain claims were falsified to attract investments. Kwon arrested in Montenegro in 2023 and extradited after using a fake passport. Federal prosecutors confirmed that Terraform Labs founder Do Hyeong Kwon has been sentenced to 15 years in prison for orchestrating a multibillion-dollar fraud that misled global investors. 

The ruling followed years of investigations into the collapse of TerraUSD and LUNA, which once formed one of the most widely discussed algorithmic stablecoin ecosystems. 

Court records stated that Kwon promoted technologies he claimed were reliable and automated, even as he privately directed interventions to stabilize failing systems.

U.S. District Judge Paul A. Engelmayer ordered the prison term after Kwon’s extradition in 2024 and his guilty plea in mid-2025. 

In announcing the outcome, U.S. Attorney Jay Clayton said, “Do Kwon devised elaborate schemes to mislead investors and inflate the value of Terraform’s cryptocurrencies for his own benefit.” Prosecutors also secured more than $19 million in forfeitures tied to the schemes, marking a major enforcement milestone involving digital asset markets.

Misrepresentations Behind Terraform’s Growth Authorities said Kwon promoted Terraform as a decentralized environment operating through automated financial mechanisms. However, filings showed that several systems did not function as presented. 

When UST dropped below its peg in May 2021, the ecosystem did not recover through the Terra Protocol alone. Prosecutors stated that Kwon privately arranged for a trading firm to purchase large amounts of UST to restore the value, contradicting public claims that the algorithm stabilized the market independently.

The Luna Foundation Guard was central to Terraform’s public image in early 2022. Kwon described the LFG as an independent body responsible for handling billions in reserves. 

Investigators later stated that he directed both Terraform and the LFG, making major decisions without board approval. The indictment noted that he treated LFG funds as interchangeable with Terraform assets, moving large sums through concealed channels.

Mirror Protocol also received attention from investigators. Kwon asserted that the platform operated without centralized control, yet filings revealed that Terraform managed governance functions and operated automated bots to influence synthetic asset prices. 

These findings circulated widely on crypto Twitter, where users shared excerpts from the indictment after prosecutors disclosed new details.

Authorities also reviewed Terraform’s partnership claims involving the Korean payments app Chai. Kwon repeatedly stated that Chai transactions were processed through the Terra blockchain. 

Prosecutors reported that traditional payment networks handled transactions and that Terraform copied activity onto the blockchain to create the impression of real-world use. This presentation played an important role in attracting retail and institutional interest.

Collapse, International Arrest, and Sentencing During its peak in 2022, the combined value of UST and LUNA exceeded $50 billion. Prosecutors said investment accelerated as Terraform promoted rapid adoption and strong ecosystem metrics. 

When UST again lost its peg in May 2022, the expanded size of the market prevented the type of coordinated recovery Kwon arranged in 2021, leaving investors with more than $40 billion in losses.

Kwon continued to speak publicly after the collapse. However, investigators later released a recorded conversation from August 2022 in which he said his strategy toward regulators was to “tell them to fuck off.” 

He also discussed seeking political protection abroad. These statements appeared frequently on social media as users reacted to the contrast between his private comments and public assurances.

The international pursuit gained momentum when Kwon was arrested in Montenegro in March 2023 for attempting to use a fraudulent passport. 

Cooperation among U.S., South Korean, and Montenegrin authorities eventually led to his extradition. Prosecutors credited the FBI’s Virtual Assets Unit and multiple international departments for coordinating the effort.

At sentencing, U.S. Attorney Jay Clayton stated, “Fraud is fraud whether it takes place on our streets, in our securities markets, or in our emerging and important digital asset ecosystem.” 

Officials said the ruling reaffirmed ongoing enforcement efforts involving digital assets and demonstrated that misconduct would face the same scrutiny applied to traditional financial structures.

PANews reported on September 6th that Bruno Skvorc, founder of NFT infrastructure RMRK, tweeted a complaint, stating that his address had been marked as high-risk by the WLFI team and his tokens had been locked. On-chain detective ZachXBT commented, "Most of the time, 'high-risk' disclosures are inaccurate, so teams can't rely solely on compliance tools, many of which are flawed. It's good to see that the World Liberty Financial team is taking a more proactive approach than other teams like Circle, as this will ultimately benefit the victims. However, they do need to be cautious, as a false positive and blacklisting could cause irreparable damage to their reputation. If your address is indeed a false positive, we hope the issue can be resolved quickly."

According to previous news , WLFI: There are 272 wallets on the blacklist, and the freeze is to prevent users from losing money.

The anti-quantum sector has risen 22.4% in the past 24 hours, with ZEC (Zenithal Electronics) within the sector rising 26.7%.

PANews reported on May 6th that, according to CoinGecko data, the Quantum-resistant sector surged 22.4% in the past 24 hours, leading all sectors. Within the sector, ZEC rose 26.7%, GEEQ rose 7.4%, and STRK rose 6.7%. The Zero-Knowledge sector rose 18% in the past 24 hours, and the Privacy Coin sector rose 12.6%, ranking second and third respectively.

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High-risk CI/CD vulnerability named "Cordyceps" exposed, open-source repositories of Microsoft, Google, and other major enterprises affected

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 Playbux is the largest web3 entertainment platform in the world. Also, it’s backed by Binance Labs and is part of VISA’s Accelerator 2023 program. Altcoin Buzz General Manager Anindya (Ani) Baidya anchored the PARSIQ AMA session with Emilijus Pranckus, BD Executive of PARSIQ.

Segment 1: Introduction Q – Tell us a bit about yourself and your journey with Playbux. My name is Sarun Vichayabhai and I am the CEO of Playbux. I’m a serial entrepreneur with 27+ years in tech startups. Started with fantasy football SaaS engine at 20, serving SEA portals. Ran Wrap-Inc for 20 years, a full-service OOH company. Founded myCashback, Asia’s top e-commerce startup (voted by Technode magazine).

I have been in tech for over 30 years. I am now 49 years old. Playbux is now 2 years old and we have been no.1 in the world on the BNB chain for a while. I started Playbux because I saw a massive opportunity in the WEB3 entertainment space, I think this is going to be one of the biggest narratives this year.

1 month after the FCO: @playbuxco review 🔥

Let's look back at the first project on @Raiser_co and how it's leading Web3 entertainment space after the $150K Public Sale.

🧵 pic.twitter.com/5OiefzGrQb

— Raiser (@raiser_co) March 26, 2024

Segment 2: Deep Dive Q – Playbux is “The largest web3 entertainment platform in the world”. Can you explain this to us in detail? We have massive on-chain numbers. We have had over 20m on-chain actions in the past couple of months. This is bigger than most L1 L2 protocols and has over 17m registered users. Probably more than any web3 projects out there now.

We are the only project with multiple x-to-earn options in this space. We have shopping, movies, music, gaming, DEFI, Trading, and many other activities. Each section is probably the biggest in the industry. For example, shop-to-earn we make $2-3m GMV monthly and have 30,000 shops globally. Also, for movies, we clock over 100m minutes of watch time every month.

Our game center has been played over 60m times. Each time costs 0.99 cents. Thats pretty good and that’s just the beginning.

Q – So if I consider a new user Journey. Where does he join, how does he interact with the platform and what options/ features does he have? Tell us about the value journey of a user. Sure. This is pretty simple.  All you have to do is:

Go to playbux. Sign in (With email of wallet). In playbux, there are so many options like movies, stamps to earn, lotto pools, walk to earn, and NFTs.

"🚨 Important Update for our Walk to Earn enthusiasts! 🚶‍♂️🚶‍♀️

We've set a daily PBUX redemption limit to ensure fairness for all: 50,000 tokens for normal users and 25,000 for Ultra NFT holders, from a total pool of 3,000,000 PBUX. 🌟 #PBUX #WalkToEarn pic.twitter.com/EmJk59ER1B

— Playbux.co (@playbuxco) April 11, 2024

Q – Playbux has a tremendous Bio, “ Backed by Binance Labs | VISA Accelerator 2023” – How has the journey been? I think we are the only project in the world backed by Binance and VISA. Two of the biggest players in each industry. Combined with Playbux this makes us the Nª 1 in entertainment. We are planning to do a web3 wallet with VISA to be launched soon. All you need is a visa card for on-ramp/off-ramp transactions. So no one needs to have a bank anymore and you need 0 knowledge of web3.

All you need to know is how to swipe your visa card. You can do all Web2/Web3 activities in the world with a visa card. Then, when you offramp the money goes to your visa card so u can use it to buy real-world products.

Q – Now you will be launching in Bybit Launchpad on 23rd April. Bybit launchpads are highly anticipated with previous launchpads doing 15-20x. This is a great achievement. Do you have any comments? Sure. This is a really good opportunity for Playbux. We are listing with many CEXs. For example, Bybit is one of them and they are now Nª2 in the world in spot volume. You can buy PBUX, our native token, with Bybit here.

We think that our traction is pretty good. 20m on-chain actions over 17m registered users. So, there is a report done by a 3rd party company. Let me share it:

Source: Dune We are bigger than most listed projects in web3. I think that on-chain stats can give everyone here a rough estimate of how much X multiple we should be trading at compared to listed projects. You can join the IEO now too.

Q – What are the utilities of the PBUX token? PBUX serves as the governing token of Playbux, offering versatile utility within the Playbux ecosystem, including its website and games. With the upcoming launch of the alpha version following the listing, PBUX’s significance will be further highlighted. Its utility spans across various applications and events, which can be categorized into four key aspects.

Earning Following its launch, PBUX will serve as the central token within the ecosystem. Users will earn PBUX as rewards for utilizing services such as Shop-to-Earn or Watch-to-Earn. Subsequently, they can leverage PBUX across various services, including playing games, purchasing in-game assets and NFTs, or compounding them. This circulation of PBUX within the ecosystem aligns with the concept of ”With real income, no inflation,” ensuring a sustainable economic model.

Many earlier platforms’ ”Play to Earn” business models simply minted tokens out of thin air, distributed them to users, and attempted to burn them through gameplay. This model is inherently fragile and susceptible to failure without new spending users, ultimately succumbing to inflation. For Playbux, our approach is unique. Before distributing our native cryptocurrency, we prioritize generating revenue.

For instance, in Shop to Earn, users obtain PBUX from cashback received from merchants, which we then distribute among users. Technically, we utilize this revenue to purchase tokens and distribute them to users, ensuring that token prices simply return to the original if sold instantly.

We also generate revenue through various channels such as advertising, affiliate marketing, package sales, and zero-sum games, among others. Some services we provide do not directly generate revenue, and in such cases, we reward users with BRK. BRK serves as in-game currency that cannot be exchanged, thereby mitigating inflation concerns.

Spending PBUX can be used to make purchases within the Playbux ecosystem, including game content, lotto tickets, or NFTs. During the period from the alpha to the open beta phases, the hierarchy of Playbux currency will comprise:

Pebble: The easiest currency to obtain, earned through playing games or participating in in-game events.

Brick or BRK: This is the premium currency, acquired through purchasing packages, granting access to exclusive game content. BRK is a one-way purchase and cannot be converted back into real money.

PBUX: The highest-tier currency, offering users the opportunity to purchase assets with the highest bonuses.

Certain packages or contents may only be purchasable using USD or credit card. However, users can also buy them using PBUX at a discounted rate. In summary, PBUX emerges as the most valuable currency within the ecosystem, providing users with enhanced purchasing power and benefits.

Gaming PBUX will serve as the currency for participation in exclusive game content based on the zero-sum concept. Participants will be required to use PBUX as payment before playing, with all spending PBUX being aggregated into a sizable reward pool. Upon conclusion of the game, after deducting a fee, all accumulated PBUX will be distributed among players according to their rank. This mechanic will also extend to PBUX lotto pools, where users use PBUX as lotto tickets, with the fortunate winners receiving a portion of the pool.

The inaugural PBUX game, ”Conquer to Earn,” is slated to launch alongside the alpha phase. This strategic war game pits countries against each other, with the top-performing country earning a larger share of PBUX from the pool. Stay tuned for further updates on ”Conquer to Earn” and other exciting developments within the PBUX ecosystem.

Fees After the alpha launch, users will have the option to play the game through both the client and website interfaces. When conducting transactions on the website, users will need to pay the usual gas fees through their wallet extensions. However, for transactions within the client, such as claiming NFTs or assets, PBUX must be deposited into the account to serve as gas fees for Web 2.0 transactions. This streamlined process ensures smooth and efficient transactions within the Playbux ecosystem.

Q – You also have a Pre-Alpha event. Can the community still participate? Sure. The pre-alpha is the current Playbux website. Anyone can join.

Q – Tell us about your Roadmap and the way ahead Alpha Launch: Q2-2024 The Alpha version of Playbux, an evolution from Pre-Alpha learnings, will feature a metaverse format with multiplayer options and a full-size island. It includes additional services and partner integrations. Participation requires at least one Playbux NFT, and it’s time-limited for feature testing and feedback collection before the open beta.

Open Beta: Q4-2024 Playbux’s final version, open to all, offers a multiplayer metaverse accessible via email or wallet. It integrates various Web 2.0 and Web 3.0 services with all partners onboard. Users can explore, interact, and utilize services within this virtual world.

Playbux Toolkit: Q1-2025 Playbux is launching an SDK program for its metaverse, enabling users to create games on mobile phones and earn from sales. Profit sharing is set at 80% for creators and 20% for Playbux. This generous split aims to attract quality creators and ensure continuous fresh content for users.

🗺️ We're thrilled to share #Playbux upcoming milestones and features set to enhance your Playbux experience throughout the year! 🥳

⭐️ More exciting features to be announced!#Roadmap #GameFi #Binance #Giveaways pic.twitter.com/kOt8IGzy7r

— Playbux.co (@playbuxco) March 20, 2024

Also, we will launch a new game in a couple of days. It’s called “Conquer to earn”. Users can join forces in the battle, competing to conquer territories. Represent your country in the competition to become the nation that dominates the most territory globally. Participants from the top 10 winning countries will each receive rewards, and the top 3 countries worldwide will be honored with a building on Playbux Island to declare their victory.

We are celebrating the Playbux listing with our next feature: Live to Earn. It’s more than just owning a space within Playbux; it’s about creating your haven, your retreat, a place you can call your own amidst the bustling activity of the Playbux island. Not only will you have the opportunity to decorate your room to your heart’s content, but you’ll also become an integral part of our investment community, sharing in the profits alongside us. These 300 rooms will pioneer the residency experience on Playbux Island, setting the stage for a new era of ownership and collaboration. It will be launched soon too.

On the other hand, we are excited to announce the debut of the Alpha stage, slated to commence in May 2024. This pivotal phase promises to be a journey of exploration and refinement, as we unveil groundbreaking features, delve into the dynamics of multiplayer engagement, and meticulously fine-tune server operations. With meticulous attention to detail, the Alpha phase will unfold across three distinct stages, each paving the way for the grand revelation of the Open Beta. Anticipate further announcements brimming with captivating insights and intriguing developments as we embark on this exhilarating adventure together.

The Alpha map multiplayer land will launch in May.

Segment 3: Community Q&A Q1: How will Playbux integrate with other platforms and ecosystems in the metaverse? Playbux does not plan to integrate with other platforms just yet. We believe that our offering right now is very diverse. Playbux is one of the biggest entertainment platforms in the world with multiple entertainment options available such as watch to earn, play to earn, trade to earn, shop to earn, stamp to earn, conquer to earn, and live to earn, and many other gaming options coming.

We are also launching our multiplayer version very soon which will enable user-generated content to be integrated into Playbux. This will allow us to expand endlessly without limits. Hence as of now, we have a massive roadmap ahead and we will keep adding new features from within our ecosystem first. Once our ecosystem becomes harder to expand will we consider integrating with other platforms and ecosystems.

Q2: One of the procedures to obtain a lotto ticket is by watching movies on Playbux for 15 minutes, so does it imply that users are rewarded with lotto tickets for every 15 minutes spent watching movies on your platform?  You need to buy a special VIP pass to earn a lotto ticket every 15 minutes. Otherwise, usually, it takes 30 minutes to earn 1 lotto ticket. Each month we have over 5m lottery tickets submitted to the reward pools. We have over $30k USDT in rewards for daily weekly and monthly prizes.

Q3: How could Playbux capitalize on the attention and hype surrounding the PBUX listing to foster long-term growth and sustainability? We have many many features planned for launching around our listing:

Conquer to earn: This is a super fun game where countries compete to win the most land area in the world. The winning country will earn a building in the metaverse where the community members from that country can earn free prizes. This feature will be launched before listing. Users will need to use PBUX to buy land to expand their empire in this game. Alpha version: The Alpha version is the multiplayer version of Playbux where over 200 players can interact with each other per server. I think this will be a fun experience for anyone who got our NFT to walk around and show off how cool or silly they look. It is also a place where anyone in the world can come and integrate their game in Playbux and earn money from profit sharing with us. Playbux Live to Earn:  This is a super cool idea where users can compete to build the coolest-looking house and decorate their apartments for the chance to win votes from their friends. The coolest pad will win prizes. We have a lot of other features coming up around the listing so we think that PBUX price will hold up extremely well. And for the longer term, we have plans to launch user-generated games where anyone can build anything in Playbux to earn extra money. This will allow us to expand endlessly.

Q4: Can you elaborate on Playbux’s Shop to Earn model and how it leverages the cashback business model to encourage users to explore web3 and the Metaverse? “Shop to Earn” is an affiliate model where we make money from commissions from 30k shops. So, users can shop anywhere in the world from playbux and earn FREE cashback. Getting FREE money I think is the best way to onboard users and educate everyone on how to use crypto.

Q5: My first question is that after verification of my wallet how do I claim my $PBUX tokens since Playbux will hold a Launchpad on Apr 18th on Bybit? Secondly, what’s the use of this BRK balance can’t seem to make use of it. You can see more of the Shop 2 earn feature here. You can also claim PBUX from the website.

Q6: Before we conclude. Will you want to share your socials so that our community can port over? Sure. Here are our social media platforms:

X. Discord. Telegram.

Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

In the past 24 hours, three altcoins—CLANKER, PARSIQ (PRQ), and STEPN (GMT)—have shown significant market activity. CLANKER has surged by 60%, reaching a $60 million market cap and attracting attention within the Base ecosystem.

PARSIQ has gained nearly 40%, with the potential to break through key resistance levels. Meanwhile, STEPN, a lifestyle app that rewards physical activity with crypto rewards, has risen 25%. Its market cap is now at $442 million, and critical price levels are in sight.

tokenbot (CLANKER)CLANKER has risen approximately 60% in the past 24 hours, reaching a market cap of $60 million, one of the biggest among altcoins in the last day.

The platform is designed to launch coins on Base blockchain with an AI-centered narrative. It attracts between 5,000 and 10,000 traders daily. On November 27, CLANKER reached a peak daily trading volume of $60 million, but this has since declined, with current volumes ranging from $3 million to $7 million, way below its Solana counterpart, Pumpfun.

If the current uptrend continues and CLANKER surpasses the $73.7 resistance level, the price could test $75 and $80. If momentum slows, the price may instead test the support level at $66, marking a potential shift in short-term price direction.

CLANKER Price Analysis. Source: TradingViewParsiq (PRQ)PARSIQ is a platform offering real-time blockchain monitoring, automation, and workflow integration. It enables users to track and analyze blockchain transactions, events, and smart contract executions across multiple blockchains. In the last 24 hours, the coin is up nearly 40%, being one of the best-performing altcoins of the day.

If the current uptrend continues, PARSIQ could test the resistance at $0.32. A breakout above this level may lead to further price increases, potentially reaching $0.40 or even $0.45. If the momentum persists in the short term, these levels could act as key milestones.

On the downside, if the uptrend loses strength, the price may pull back to test support at $0.22. This level would be critical in determining whether the token stabilizes or experiences further declines.

PRQ Price Analysis. Source: TradingViewSTEPN (GMT)STEPN is a Solana-based lifestyle app that blends elements of Social-Fi and Game-Fi. It promotes physical activity like walking and running by offering crypto rewards to its users. The token has seen a 25% increase in value over the last 24 hours.

GMT now holds a market cap of $442 million. If it surpasses the resistance level at $0.173, the price could climb further to test $0.21. This breakout would signal continued upward momentum for the token.

If the resistance at $0.173 holds and the trend reverses, GMT could retest support at $0.14. A failure to maintain this level might lead to a further decline, with $0.128 as the next potential support point.

GMT Price Analysis. Source: TradingView

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Richard Parris is a co-founder at Saito - a self-sufficient Layer 1 Blockchain designed for devs that provides the foundation for building open and scalable web applications.

The link will open a new window. Click the menu and down arrow to download the file.

Why you should listen Saito is a new type of layer-1 blockchain that powers peer-to-peer applications. Saito delivers a new economic model for blockchain. Saito Consensus aligns incentives for all participants, paying nodes for scale while remaining open.

Saito is designed to create a real economy running on this network, that supports an open ecosystem of peer to peer applications, where users are sovereign and own their data, and providers that serve them best are most profitable.

Saito Consensus eliminates the sybil attacks, majoritarian attacks,and several other attack vectors common in proof-of-work and proof-of-stake consensus mechanisms by correcting the collective action problems buried in their incentive structures.

When users send transactions into the network they add cryptographic routing signatures that specify the first-hop node(s) to which they are sending their transaction(s). Receiving nodes add similar routing signatures as they forward these transactions, creating an unforgeable record within transactions of the path they have taken into the network.

These routing paths can be examined to confirm the amount of “routing work” available in a transaction. Transactions without valid routing paths contain no routing work. The amount of routing work in any other transaction is its total fee halved with each hop beyond the first that the transaction has taken into the network.

The blockchain maintains a “difficulty” for block production that is measured in routing work. Nodes produce blocks when they have enough routing work in the transactions in their mempool to meet difficulty criteria. Blocks which do not contain the required amount of routing work are invalid according to consensus rules.

While most of crypto uses a Web 2 model with token integrations or a federated model reliant on volunteer work, Saito applications operate in true, peer-to-peer Web 3 and are self-funding.

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Japan’s minister of economy, trade and industry, Takeru Saito, said on August 28, 2024, that it aims to propel its Web3 ecosystem through startup-friendly tax reforms.

Startup-Centric Tax Reforms Key To Web3 Industry Growth To spur its Web3 industry, Japan may soon implement startup-centric tax reforms to make it easier for businesses in this sector to grow. Speaking at the WebX Conference, Saito emphasized the enormous potential of Japanese Web3 and blockchain enterprises. 

The minister underscored the importance of positive tax reforms to create an ecosystem that would attract businesses and developers worldwide to Japan. Japanese Prime Minister Fumio Kishida echoed Saito’s views.

In a video address during the WebX 2024 opening ceremony, Kishida declared that Web3 and blockchain businesses could play a pivotal role in resolving many of Japan’s societal issues. With sensible tax and legal reforms, Web3 startups would find it easier to raise funds and help generate new avenues of employment in the country.

Notably, in July 2023, the Japan Blockchain Association (JBA) petitioned the concerned Japanese authorities to slash taxes on crypto assets.

Kishida added that the government will work toward fostering an environment conducive to using Web3 tokens, blockchain-powered instant payments, and revitalizing the content industry. Future policies surrounding the Web3 industry will have user protection as one of their central tenets. 

Early signs of a shift in stance toward crypto startups were noticeable in September 2023, when the Japanese government announced measures allowing startups to receive investments in cryptocurrency.

Regulatory Headwinds Remain In Japan While the WebX Conference inspires confidence in Japan’s commitment to growing its Web3 industry, regulatory challenges surrounding digital currencies continue to be a cause of concern for the country’s crypto ecosystem.

For instance, in July 2024, leading crypto exchange gate.io shuttered its operations in Japan. The exchange stated that it aims to follow financial rules wherever it conducts business, indirectly hinting toward the rigorous cryptocurrency regulations due to money laundering and terrorism financing concerns.

Japan’s stringent cryptocurrency regulations are not without reason. In May 2024, DMM Bitcoin, a major Japan-based cryptocurrency exchange, was hacked, resulting in a loss of $305 million in Bitcoin (BTC).

Conversely, if recent developments are anything to go by, institutional appetite for Bitcoin seems to be on an upward trajectory in Japan. 

In June 2024, a joint survey conducted by Nomura Holdings and Laser Digital Holdings found that 54% of those surveyed—including 547 investment managers from family offices and public interest corporations—said they would be interested in entering the digital assets market within the next three years.

Bitcoin is down 4.8% in the last 24 hours | Source: BTCUSD on TradingView.com Featured image from Unsplash, Chart from TradingView

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

Saito, a next‑generation peer‑to‑peer blockchain platform, today announced the successful launch of its mainnet, ushering in a new era of truly decentralised Web3 infrastructure built for efficient, sustainable, and scalable decentralised applications.

Unlike traditional blockchains that reward miners or stakers for block production alone, Saito uniquely compensates nodes for routing, storage, and compute work, enabling developers to build and power fully on‑chain applications without reliance on centralised cloud services, external APIs, or off‑chain backends. 

Saito’s mainnet launch marks a pivotal milestone in blockchain infrastructure and real‑world Web3 adoption.

“Today represents a major moment for Web3,” said Richard Parris, Co‑Founder of Saito. “We started this project because we believed existing systems couldn’t deliver on decentralisation at scale. Now Saito is live, stable, and delivering what others can’t; a network that works for developers and users alike.”

New Infrastructure Designed for Scalable, Decentralised Applications Saito’s mainnet launch introduces several key innovations intended to address long‑standing challenges in decentralised application infrastructure:

Automatic Transaction Rebroadcasting (ATR): a novel mechanism that combats chain bloat and ensures long‑term data availability through incentive‑based rebroadcasting of transactions.
Block Staking: a low‑overhead, non‑inflationary mechanism that enhances network security even when transaction volumes are low.
Smart NFTs: dynamic, logic‑bearing assets that eliminate the need for complex virtual machines, enabling efficient on‑chain functionality. These features collectively create a true peer‑to‑peer computing layer, where developers can build with familiar web‑native tools, without proprietary stacks, special languages like Solidity, or hidden backend services.

Proven Network Stability and Real‑World Testing Saito’s network has processed more than 70 million blocks with consistent uptime and no known exploits, demonstrating robustness and reliability in real‑world conditions. All core components of Saito’s consensus mechanism have been publicly open and reviewed, with full documentation available at wiki.saito.io.

Mainnet status was declared after the network met key self‑defined benchmarks, including full decentralisation of participating nodes, successful ATR pruning cycles in production, and stability under real‑world load.

“With Saito in Mainnet, the world finally has a production blockchain without rich-get-richer economics and majoritarian attacks. I couldn’t be prouder of our community for helping us make Saito a reality, and would like to think that Satoshi would be proud too,” said David Lancashire, co-founder of Saito.

Developer‑Ready, Open For Innovation Saito’s architecture enables developers, startups, and enterprises to build the next generation of Web3 applications – from social and messaging apps to gaming and encrypted communication – entirely on‑chain and browser‑native. No centralised APIs, backend servers, or external services are required, keeping user data and experience sovereign.

“We designed Saito so developers can ship fast, with payments built in and data ownership preserved,” added Parris. “This is decentralisation in action; practical, powerful, and open.”

About Saito Saito is a decentralised blockchain protocol purpose‑built for peer‑to‑peer web applications and sustainable Web3 infrastructure. Built to eliminate dependencies on centralised services and unsustainable token models, Saito’s mainnet combines economic incentives with developer usability to support scalable, fully decentralised applications.

For more information about Saito’s architecture, live applications, and development tools, visit https://saito.io or explore technical documentation at wiki.saito.io.

Richard Parris [email protected] Oliver Mills [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

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When President Trump confirmed that planned U.S. strikes on Iran had been canceled, a wave of optimism flooded traditional financial markets. Stocks jumped, gold rallied, and crude oil slipped. According to the Santiment update, social media discussions around peace, ceasefires, and conflict resolution surged to their highest level this month. The shift in narrative was immediate—traders moved to price in a less disruptive geopolitical backdrop, potentially ending a macro overhang that has pressured risk assets throughout 2026.

Yet the crypto market barely stirred. Bitcoin and major altcoins moved little, even as the S&P 500 and gold posted sharp intraday gains. This divergence between crypto and equities during a sudden macro reprieve is unusual. It suggests that either crypto participants are skeptical of the sustainability of peace talks or that liquidity constraints and positioning prevented a quick reaction. Santiment itself hinted that a delayed reaction might occur after U.S. markets close, as retail traders and algorithmic systems catch up to the macro shift.

Santiment’s social volume and dominance metrics track how often keywords related to peace and conflict resolution appear across crypto-focused platforms like Telegram, Reddit, and X. The spike seen after Trump’s announcement was the strongest in weeks, indicating that traders and influencers were rapidly digesting the news. In past cycles, surges in geopolitical resolution chatter have preceded short-term rallies in crypto because they reduce the fear premium baked into assets. This time, however, equities and commodities absorbed the news first, leaving crypto priced for a different scenario.

The lack of immediate crypto price action also underscores how fragmented market reactions can be when news hits during the U.S. session. Institutional traders can re-price equities instantly, while crypto, with its global retail base, often filters news through a longer sentiment cycle. Santiment’s social dominance reading—measuring the share of discussion related to peace—shows that the topic captured unusually high attention, a signal that historically correlates with subsequent volatility. That setup hasn’t yet materialized for bitcoin or ether, but it keeps a short-term catch-up trade on the table.

Why Crypto is Sidelined So Far One reason for crypto’s subdued response could be that talks remain preliminary. Reports mention a ceasefire extension, the reopening of the Strait of Hormuz, and renewed diplomatic engagement, but no formal deal exists. Markets that ran hard on the announcement may be front-running a resolution that could stall. Crypto, which often exhibits higher sensitivity to sudden macro uncertainty, might be waiting for a ratified agreement before repricing risk. In the meantime, thin liquidity windows typical of the North American afternoon can slow down asset revaluation outside equities.

Crypto’s underperformance isn’t necessarily bearish. Often, when macro sentiment flips quickly, riskier assets like cryptocurrencies experience a lag before repricing. If the peace negotiations hold, energy costs could normalize, easing inflationary pressures that have haunted global central banks—a broadly positive setup for speculative assets. Still, uncertainty remains. A sudden reversal could unwind the equity rally, leaving crypto’s lack of participation as a warning sign rather than a buying opportunity. For now, traders will watch whether social volume stays elevated into the evening session. If crypto starts to play catch-up, it would reinforce that digital assets remain tethered to global macro, just with a delay. If not, it may signal deeper liquidity issues that keep crypto sidelined even when risk appetite improves elsewhere.

AUTHOR

Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.

Analyst: Micron's earnings boost overall market sentiment for the tech sector

Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”

5 minutes ago

2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing

According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.

5 minutes ago

BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.

BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.

5 minutes ago

Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.

Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.

5 minutes ago

Japan and South Korea's stock markets closed higher across the board, with Japan's stock market hitting a new closing high.

According to Bitget market data, the Nikkei 225 index closed up 3,191.37 points, or 4.61%, at 72,366.34 points on Thursday, June 25, hitting a new all-time closing high. South Korea’s KOSPI index rose 459.76 points (5.43%) to end at 8,930.78 points; SK Hynix surged 13% while Samsung Electronics gained more than 5%.

5 minutes ago

A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.

According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.

5 minutes ago

Leading cryptocurrencies rose alongside stocks on Monday as investors embraced a risk-on mood following the declaration of a peace deal with Iran.

Crypto Market Gains MomentumBitcoin extended gains, rising to an intraday high of $67,248 as trading volume jumped 40% over the last 24 hours. Ethereum topped $1.800 while XRP was up 4.5% from the previous day.

Over $480 million was liquidated from the market in the last 24 hours, predominantly in short bets, according to Coinglass data. Notably, more than $300 million in Bitcoin short positions were at risk of liquidation if the apex cryptocurrency rose to $70,000.

Meanwhile, Bitcoin's open interest rose 2.06% in the last 24 hours, suggesting an influx of new money into the futures market.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.27 trillion, following an increase of 1.59% over the last 24 hours.

Stocks Enter Record TerritoryThe stock market started the new trading week on a high. The S&P 500 climbed 1.65% to 7,554.29,  while the tech-heavy Nasdaq Composite surged 3.07% to close at 26,683.94. The Dow Jones Industrial Average gained 468.77 points, or 0.92%, for a record close of 51,671.03.  

The rally followed President Donald Trump's declaration that the peace deal with Iran is "complete" and that the Strait of Hormuz is open for normal traffic. The deal is due to be signed in Switzerland on June 19. 

Pullback: A Long-Term Buying Opportunity?Widely followed cryptocurrency analyst and trader Michaël van de Poppe said that Bitcoin has entered a zone where one'd want to be accumulating positions "over a longer period."

"It doesn’t mean we’ll be bottoming out here, but we’re at least close, and the ROI of buying here has historically been incredible," the analyst said. "That’s primarily why I’m not selling positions and instead want to stick with them as a whole."

On-chain analytics firm Santiment said the latest rally seems to be driven "as much by expectations as by current fundamentals."

"If inflation pressures ease and institutional investors finally begin feeling more comfortable themselves, the sharp gains following this announcement may end up looking less like a one-day relief rally and more like the opening chapter of a much larger bull cycle," the research firm added.

Photo Courtesy: Sodel Vladyslav on Shutterstock.com

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TLDR The Dow Jones Industrial Average surpassed the 52,000 milestone for the first time ever on Tuesday, fueled by positive sentiment surrounding a potential U.S.-Iran peace agreement. Under the terms of the proposed agreement, Iran would be permitted to resume oil exports immediately, causing crude oil prices to decline. The Federal Reserve is anticipated to maintain current interest rate levels, with newly appointed Chair Kevin Warsh scheduled to conduct his inaugural press briefing. Market participants are closely monitoring Warsh’s messaging for insights into potential future rate adjustments, especially as persistent inflation and robust employment figures have eliminated prospects for rate reductions. Bitcoin declined 1.3% during the 24-hour period to reach $64,469, demonstrating market hesitation before the Federal Reserve’s policy announcement. Equity markets in the United States advanced during premarket hours on Wednesday, extending gains from Tuesday’s historic performance by the Dow Jones Industrial Average as market sentiment improved on expectations that Washington and Tehran are nearing a formal resolution to their longstanding tensions.

The Dow Jones Industrial Average achieved an unprecedented milestone by breaking through the 52,000-point threshold on Tuesday. By Wednesday’s opening bell, Dow futures had climbed approximately 50 points, representing a 0.1% increase. Futures for the S&P 500 rose 0.3%, while Nasdaq 100 futures jumped 0.8%, propelled by strength in technology shares.

E-Mini S&P 500 Jun 26 (ES=F) The S&P 500 and Nasdaq — the other two primary market benchmarks — experienced modest declines on Tuesday as investors shifted capital away from technology stocks toward sectors that have underperformed recently.

According to reporting by The Wall Street Journal, the United States would grant Iran permission to commence oil and fuel sales without delay as a component of the peace agreement. Both nations are progressing toward an official signing ceremony scheduled for Friday.

Oil prices retreated following this development. Brent crude futures declined 0.7% to settle at $78.43 per barrel, while West Texas Intermediate dropped 1.1% to $75.25 per barrel.

Federal Reserve’s Initial Policy Decision Under New Chair Kevin Warsh The Federal Reserve is scheduled to reveal its most recent interest rate determination at 2 p.m. Eastern time. Financial markets are broadly anticipating that rates will remain unchanged.

However, market participants are particularly focused on Warsh’s debut press conference as Federal Reserve chair. The primary objective is to assess his communication approach and gain clarity on his perspective regarding potential future rate modifications.

“Investors will now have to get used to the new Fed Chair’s communication style, which is an adjustment period for markets,” said James Demmert, chief investment officer at Main Street Research.

Warsh has assumed leadership during a challenging period. Elevated inflation readings, partially linked to the Iranian conflict, coupled with strong employment figures, have eliminated the possibility of near-term rate cuts. Additionally, there remains uncertainty about whether rate increases might become necessary if inflationary pressures persist.

Demmert noted that any market turbulence resulting from Warsh’s remarks on Wednesday should be viewed as an attractive entry point, emphasizing that “market fundamentals remain in place.”

Bitcoin Retreats Ahead of Fed Announcement Bitcoin fell 1.3% during the previous 24-hour period to $64,469, mirroring the cautious sentiment across financial markets in advance of the Federal Reserve’s policy decision.

The 10-year U.S. Treasury note yield decreased by 1 basis point to 4.44%. The U.S. dollar remained essentially unchanged against a collection of major global currencies.

Market participants are also monitoring developments surrounding the Strait of Hormuz, where petroleum transport has experienced interruptions due to the ongoing conflict. The potential peace agreement has generated optimism that maritime shipping could normalize, which would alleviate some constraints on international energy markets.

The United States and Iran are targeting Friday for the formal signing of the 14-point memorandum of agreement, subsequent to the document’s details becoming public on Tuesday evening.

Here’s a quick recap of the week’s top stories.

Michael Saylor, speaking at BTC Prague, suggested that Bitcoin’s journey from $70,000 to $7 million could be inevitable, provided it moves from 0.1% of global capital to 10%. Saylor noted that Bitcoin currently represents a mere 10 basis points of all the capital in the world.

Read the full article here.

Bitwise’s BTC OptimismBitwise’s Park encouraged investors to consider the risk of not owning Bitcoin, rather than focusing on its upside speculation. In a recent interview, Park argued that Bitcoin remains a hedge against fiat currency debasement and its relevance could grow further with the rise of artificial intelligence.

Read the full article here.

Shiba Inu’s SEC ApprovalShiba Inu highlighted the SEC’s approval of a new exchange-traded fund that could hold SHIB, signaling growing institutional recognition for the memecoin. The T. Rowe Price Active Crypto ETF, approved last week, is set to list on the NYSE Arca exchange under the ticker TKNZ.

Read the full article here.

Dogecoin’s Potential RiseCryptocurrency analyst Ali Martinez suggested that Dogecoin could continue its upward trend if it maintains key support levels. Martinez highlighted DOGE’s trading in a rising channel on its 1-hour chart, with the lower boundary at $0.087 acting as a crucial support level.

Read the full article here.

Franklin Templeton’s Bitcoin ETFsGlobal asset manager Franklin Templeton has filed with the SEC to launch two ETFs that would automatically reinvest stock dividends into Bitcoin. This move marks another step in the rapidly evolving crypto ETF market, with industry observers expecting the pace of launches to accelerate further.

Read the full article here.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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US Flash PMIs Forecast to Confirm Steady Expansion in June

For months, XRP holders have watched price action struggle to gain meaningful traction. Yet beneath the surface, two developments are quietly reshaping the conversation around the asset. The latest XRP news centers on Ripple securing preliminary MiCA approval in Europe and a notable shift in Binance transaction behavior that has persisted for an entire week.

Neither event guarantees a price reversal. Still, both point toward growing institutional relevance and changing user behavior at a time when market participants have been searching for reasons to turn constructive.

Ripple Gets Europe’s Regulatory Green LightRipple announced that it has received preliminary MiCA approval to offer regulated crypto payment services across Europe. The approval effectively moves the company closer to legally providing crypto and stablecoin-based payment infrastructure to banks and businesses throughout the European Union.

MiCA is widely viewed as one of the most comprehensive crypto regulatory frameworks globally. According to details shared around the announcement, regulators issued Ripple a “green light letter,” indicating the company has met major requirements while final conditions remain before a full license is granted.

For Ripple, the implications extend beyond compliance. The approval opens the door for broader adoption of its payment technology, including RLUSD, among institutions seeking regulated cross-border settlement solutions.

Institutions Could Finally Join The NetworkThe significance of the development lies in accessibility. European banks and businesses may eventually gain a compliant pathway to use Ripple’s infrastructure for international payments. In an industry often slowed by regulatory uncertainty, obtaining preliminary approval under MiCA provides an important credibility boost.

More importantly, it strengthens the long-term utility narrative surrounding the broader XRP ecosystem. While traders often focus on daily price fluctuations, infrastructure milestones tend to have a longer shelf life than short-lived market hype.

Binance Data Shows A Curious ShiftAt the same time, on-chain activity is telling an interesting story. According to CryptoQuant data shared by Amr Taha, XRP withdrawal transactions on Binance have dominated deposit transactions for seven consecutive days since June 17. On June 23, withdrawals accounted for 53.8% of transaction activity, the highest level recorded since June 2024.

Meanwhile, deposit transactions fell to 46.1%, marking their lowest reading since 2024. The result is a 7.7 percentage-point gap favoring withdrawals.

It’s important to note that this metric tracks the share of transactions rather than the dollar value of XRP being moved. Even so, the persistence of withdrawal dominance stands out because it reflects a sustained behavioral shift rather than a one-day anomaly.

Why XRP Holders Are Paying AttentionMarkets rarely move on a single catalyst. However, a combination of expanding regulatory legitimacy and consistent withdrawal activity is enough to keep investors watching closely.

The XRP price may not be reflecting that optimism yet, but the latest XRP news suggests that adoption and network behavior are moving in a direction many long-term participants would prefer. Whether that ultimately translates into a stronger trend remains the question traders will be monitoring in the weeks ahead.

Story Ends Here

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Ink, a Kraken-incubated Ethereum Layer 2 built on the OP Stack, is upgrading to Optimism's OP Enterprise Fully Managed under a multi-year deal, the projects said Wednesday.

Under the deal, Optimism will operate Ink's production infrastructure while the Ink Foundation focuses on ecosystem growth and new financial products. In a statement shared exclusively with The Block, Optimism said the arrangement is one of the first instances of a major Layer 2 delegating infrastructure operations to a managed provider.

Launched in December 2024, Ink said it processed more than 1 million transactions in the first 24 hours after its mainnet went live, and applications built on the network now generate close to $40 million in annual revenue.

Ink signs on as OP Enterprise design partner Ink will also serve as a design partner for OP Enterprise, Optimism's infrastructure offering for institutions and exchanges building onchain financial products. The roadmap includes programmable block building, one-day withdrawals to Ethereum, and sequencer-level compliance tooling, alongside performance targets of 400 megagas per second in guaranteed throughput and block times as low as 100 milliseconds by the end of 2026.

"Programmable financial infrastructure is becoming the foundation of how institutions build onchain, but operating that infrastructure requires a different set of expertise," Optimism CEO Jing Wang said in the statement. "By working together, the Ink Foundation can focus on growing the ecosystem while Optimism focuses on operating and improving the network."

Ink Foundation Head of Strategy Zach Le said running a blockchain in production is a "unique operational challenge" and that the foundation chose Optimism to operate the network because it built the stack Ink runs on. "The next phase of onchain finance demands a chain operated by those with the technical depth to prioritize reliability and security in everything they do," Le said.

Ink's move follows the launch of Bitpanda's Vision Chain, the first network deployed on OP Enterprise Fully Managed earlier this year. Optimism said adding Ink expands the managed tier to exchange-linked blockchain networks in the U.S. and Europe.

The deal also lands as usage across major optimistic rollups has pulled back from 2025 highs, with active addresses down from nearly 3 million a year ago to under 600,000 in recent weeks, according to The Block's data dashboard.

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Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ink is upgrading to OP Enterprise Fully Managed, letting Optimism run its infrastructure while the Ink Foundation focuses on ecosystem growth.

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Ink, the Kraken-incubated Ethereum Layer 2 built on the OP Stack, is moving its production infrastructure to Optimism’s OP Enterprise Fully Managed under a multi-year agreement.

What’s the Scoop?The Deal: Optimism will operate Ink’s production infrastructure, shifting the technical burden to them. In return, Optimism now wears the mantle of running the chain for one of the largest exchanges, a clear proof of concept as it continues to expand its OP Enterprise to other exchanges and fintechs.Optimism’s Pivot: Optimism has spent 2026 refocusing around enterprise infrastructure, shedding its previous general-purpose nature, and betting that exchanges, fintechs, payment companies, and financial institutions increasingly want their own chains, but do not want to run blockchain infrastructure themselves.The Roadmap: Ink will also serve as a design partner for OP Enterprise as Optimism builds out features including programmable block building, one-day withdrawals to Ethereum, sequencer-level compliance tooling, higher throughput, and lower block times. In plain English, that means faster chains with more control over how transactions are ordered, screened, and settled.
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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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Scallop, a pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem, has announced a significant milestone in its journey. The platform has secured a strategic partnership with DWF Labs, a leading new generation Web3 investor and one of the world’s largest high-frequency cryptocurrency trading entities. This collaboration signifies a major step forward for Scallop, as it aims to enhance its efforts in expanding DeFi adoption.

Enhanced Liquidity and Market Visibility As part of the partnership, DWF Labs will act as Scallop’s principal liquidity provider across various centralized exchanges and support over-the-counter (OTC) trading activities. 

The primary objective of this collaboration is to bolster the liquidity of the Scallop token on a global scale. Leveraging DWF Labs’ extensive expertise and network of relationships with trading platforms and exchanges, Scallop is poised to elevate its market visibility and expand its ecosystem significantly.

This strategic alliance not only strengthens Scallop’s position in the DeFi space but also extends its reach into the institutional market. By promoting adoption among institutional investors, Scallop aims to establish itself as a key player in the broader cryptocurrency landscape. The investment from DWF Labs will accelerate the execution of Scallop’s roadmap, enabling the team to fulfill its commitments to the community and explore new ventures.

About DWF Labs and Scallop DWF Labs, known as the new generation Web3 investor and market maker, is among the largest high-frequency cryptocurrency trading entities globally. The entity engages in spot and derivatives markets across over 60 top exchanges, bringing extensive experience and market insights to its partnership with Scallop.

Scallop, on the other hand, stands as the first DeFi protocol to receive an official grant from the Sui Foundation. Positioned as a Next Generation peer-to-peer Money Market for the Sui ecosystem, Scallop aims to revolutionize DeFi by providing innovative financial solutions and fostering broader adoption.

With the support of DWF Labs and its commitment to expanding DeFi accessibility, Scallop is poised to make significant strides in its mission to reshape the future of decentralized finance. As the partnership unfolds, investors and enthusiasts can expect to see exciting developments that contribute to the growth and sustainability of the Scallop ecosystem.

AUTHOR

Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

The Sui Network (SUI) has achieved a remarkable milestone, temporarily surpassing a total value locked (TVL) of $1 billion, marking the highest level in its history. According to the DeFi data platform DefiLlama, this growth was recorded as of September 19. The Sui Network continues to attract the attention of investors with its noteworthy performance in the cryptocurrency market.

NAVI Protocol and Scallop Lend Shine in TVL GrowthAmong the lending protocols operating on the Sui Network, NAVI Protocol has reached a TVL of $310.86 million, reflecting a weekly increase of 15.46%. NAVI Protocol stands out as one of the largest lending platforms in the Sui ecosystem, enabling users to securely lend various cryptocurrencies.

Scallop Lend has also recorded a significant growth of 20.83% this week, bringing its TVL to $140.55 million. This increase reflects the growing popularity of the protocol among users and its effectiveness in the lending market. Scallop Lend aims to attract more users on the Sui Network by offering innovative solutions to support lending activities.

Suilend and Continued Growth within the EcosystemThe Suilend platform has also made significant strides, increasing its TVL to $134.39 million, which corresponds to a weekly growth rate of 15.14%. Suilend allows users to lend and borrow various cryptocurrencies, enhancing liquidity within the Sui Network. The platform attracts users with its flexible lending terms and broad asset support.

The rapid current growth in the Sui Network highlights the increase in the number of DeFi projects supporting the development of the cryptocurrency market and the expansion of its user base. The rising TVL values of lending protocols particularly reflect investors’ confidence in the DeFi ecosystem. With its dynamic structure, the Sui Network aims to attract more investors and continues to expand its ecosystem.

In addition to its TVL growth, SUI coin has seen a 14.02% increase in the last 24 hours, currently trading at $1.36.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

The SUI price has gone up by a massive 32.4% within the last 24 hours and 60% in a week with the market capitalization nearing $8.7 billion. This has put SUI at the 15th position among the most valuable cryptocurrencies in the world today. On the other hand, the lending protocol of the Sui ecosystem, Scallop (SCA), has also been on an upward trajectory. SCA has risen by 87% in the last week and has seen its total value locked (TVL) growth by 25.3%. This points towards a growing interest in the Sui network and the other assets associated with it.

SUI Price Rally 60% In a Week Hitting New Market Cap High of $8.7B According to recent data, SUI price has increased by 32.4% within the last 24 hours, and by over 60% over the span of 7 days. This tremendous growth has also placed SUI at its highest market capitalization ever of around $8.7 billion. This has not only anchored SUI firmly in the market but has raised the asset to 15th rank amongst digital assets by market capitalization.

The increase in SUI price is coupled with a surge in trading volume, indicating a rise in investor interest. Over the past 24 hours, SUI trading volume increased by over 250%, reflecting heightened market activity, and signaling a bullish outlook. Analysts attribute this price rise to strong on-chain metrics and a favorable market environment.

Adding to the bullish sentiments, the MACD analysis on the daily chart indicates a strong upward trend for SUI. The MACD line has crossed above the signal line, currently reading 0.0211 against -0.0027, reflecting positive momentum. The histogram also supports this bullish outlook, as it has been showing green bars with increasing height. This widening gap between the MACD and the signal line indicates strengthening buying pressure and a continuation of the upward trend. 

Source: TradingView Furthermore, the Bull Bear Power (BBP) analysis reinforces the bullish trend, showing a positive value of approximately 1.2590. This positive reading suggests that bulls are dominating the market, as buying strength surpasses selling pressure. 

Scallop (SCA) Gains 83% As Sui Ecosystem Grows Apart from SUI, the lending protocol within the Sui ecosystem with the ticker SCA has also shown great growth. In the last one week the token price of Scallop (SCA) has risen by 83% indicating growing demand for Sui-based financial solutions. It worth mentioning that Scallop being a lending protocol is an essential part to the Sui ecosystem as it provides services such as lending and borrowing, which add value to the Sui network.

Source: CoinMarketCap The massive adoption of Scallop (SCA) has signaled the ability of the Sui ecosystem not to be limited to the SUI token alone as users seek other financial services within the network.

Besides the price appreciation, there is a remarkable improvement in the total value locked (TVL) in Scallop (SCA), which has increased by 25.30% in the last week. This increase in TVL reflects the growing interaction of users with the Scallop protocol. TVL growth is one of the constituent parameters, which characterizes overall demand together with protocol’s liquidity.

What’s Next? Analysts Predict $10 Target for SUI Following the recent rally, market analysts are optimistic about the future trajectory of SUI price, projecting a potential target of $10 if current trends persist. This positive outlook is driven by robust on-chain metrics, including high trading volume and active user engagement. Additionally, post-election market dynamics and the popularity of meme coins within the ecosystem are further catalysts for price appreciation.

SUI November price prediction could continue to benefit from increased interest and favorable market conditions. If these factors align, SUI may see another significant rally, bringing it closer to the anticipated $10 target.

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Scallop, an advanced money market protocol on Sui blockchain, has announced the integration of Alchemy Pay’s On & Off-Ramp solution. This move simplifies the process for Scallop users to buy and sell cryptocurrencies, offering seamless access to digital assets. This can be done through diverse payment methods, including credit cards, mobile wallets, and bank transfers.

https://twitter.com/AlchemyPay/status/1859174069641400382?t=DcV6dLmqg1XA4R24EP57Vw&s=19

Scallop and Alchemy Pay Unite to Enhance Global Crypto Accessibility With support spanning 170+ countries, Scallop users can now leverage Alchemy Pay’s global payment infrastructure to easily acquire cryptocurrencies, including Scallop’s native token, $SCA. The token is now listed on Alchemy Pay’s platform, allowing users to directly purchase it for engaging with Scallop’s DeFi ecosystem.

Scallop, a trailblazer in the Sui ecosystem, has set itself apart as the first DeFi protocol to receive a grant from the Sui Foundation. The platform provides an all-in-one DeFi experience with services like lending and borrowing, flash loans, and bridging tools. By integrating Alchemy Pay’s payment gateway, Scallop further enhances user access and engagement across its ecosystem.

The company’s recent acquisition of four Money Transmitter Licenses in the U.S. underscores its commitment to regulatory compliance and secure operations. As an officially authorized payment service provider listed by Visa and Mastercard, Alchemy Pay continues to solidify its reputation as a trusted platform for bridging fiat and crypto economies.

A Synergistic Partnership The partnership between Scallop and Alchemy Pay demonstrates a shared vision of simplifying and expanding access to decentralized finance. By offering streamlined payment solutions and supporting $SCA token integration, the collaboration aims to attract a broader user base to Scallop’s protocol while fostering the growth of the Sui ecosystem.

With this integration, Scallop users gain an enhanced, user-friendly experience, paving the way for greater adoption of DeFi services globally.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Analyst SuperBro notes that a Bitcoin close above the key level would confirm his inverted ascending scallop pattern, potentially leading to higher prices.

Bitcoin’s price has experienced a clear upward trend over the past week, seeing a significant jump from below $104,000 to over $110,000. As of today, Bitcoin is trading at $109,318, showing a 3.5% increase in the last 24 hours and a slight 0.1% rise over the past 7 days. 

Following this surge, an analyst on X suggests Bitcoin might be poised for a broader surge, even reaching new highs based on an inverted ascending scallop.

Technical Patterns and Price Targets The chart analysis shared by crypto analyst SuperBro highlights the formation of an “Inverted Ascending Scallop” pattern on Bitcoin’s weekly price chart. This pattern unfolds in multiple phases, beginning with a rise from $49,500 in August 2024 to a peak of $109,000 on January 20, 2025.

From there, Bitcoin dipped to $74,400 in early April before making a comeback. This upward trend has brought the price back near the January peak, with the final phase projecting further increases.

SuperBro highlights that if Bitcoin records a weekly close above $109,358, it will confirm the inverted ascending scallop pattern, which he has continued to watch since February 2025. Interestingly, the analyst provides two potential price targets for Bitcoin. 

The conservative target, based on a linear estimation, is set at $148,000. This target is derived from calculating 64% of the price difference between points A and B. In contrast, the more aggressive logarithmic target suggests that Bitcoin could reach as high as $244,000.

When asked about the possibility of Bitcoin hitting $130,000 this week, the analyst stated that it is possible, as the market is likely on the cusp of a parabolic move.

Bitcoin’s Strong Buying Pressure Meanwhile, data on Bitcoin holder inflows reveals strong buying pressure in both the short and long term. The 7-day change in inflows has increased by 168.70%, indicating heightened short-term demand. 

Bitcoin Large Holders Inflow | IntoTheBlock More notably, the 30-day change has surged by 522.76%, suggesting that large holders have been accumulating Bitcoin over the past month. However, despite the strong inflow data, the 90-day change in inflows shows a massive decline of 95.04%. 

Bitcoin’s Potential for Long-Term Growth On the macro scale, Bitcoin’s potential for future growth has drawn attention from prominent analysts. Tom Lee, head of research at Fundstrat, remains confident that Bitcoin could reach an all-time high of $250,000 by the end of 2025.

He attributes this optimistic outlook to Bitcoin’s fixed supply—95% of its maximum supply has already been mined—combined with the growing imbalance between Bitcoin’s demand and available supply. Lee speculates that more institutional and retail investors will enter the market, pushing Bitcoin’s price higher as demand continues to outpace its available supply.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Bitkub Exchange, a well-known Thailand-based digital asset trading firm, has partnered with Scallop, a next-gen DeFi platform on the Sui blockchain. The partnership is aimed to expand DeFi awareness and expansion across Thai consumers. As mentioned in Bitkub’s official announcement on X, the development focuses on offering DeFi access to the users in Thailand to unlock new financial opportunities via blockchain-led innovation. Hence, the joint initiative signifies a strategic move to combine the worldwide potential of DeFi with the rising digital economy of Thailand.

🚀Bitkub Exchange partners with @Scallop_io💙💚
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Bitkub Exchange joins forces with Scallop, one of the leading DeFi projects on the Sui ecosystem to enhace understanding about DeFi and be an open door of opportunitties for Thai users to get secure DeFi service on SUI blockchain… pic.twitter.com/aUfosKs5Ht

— Bitkub.com (@BitkubOfficial) September 2, 2025 Bitkub Exchange and Scallop Partner to Enhance DeFi Awareness In partnership with Scallop, Bitkub Exchange is endeavoring to increase DeFi-related awareness among Thai users while also offering noteworthy opportunities. In this respect, the development denotes another crucial step forward in Bitkub’s efforts to advance financial literacy as well as the adoption of digital assets. Thus, by working with Scallop, it attempts to strengthen its clients with cutting-edge tools to delve into DeFi in a secure way through the Sui blockchain.

Apart from that, Scallop delivers advanced DeFi solutions and helps integrate cutting-edge financial products to streamline complicated blockchain services. Additionally, the collaboration is also a great contribution to Thailand’s strategy to expand the digital economy. As a result of this, the duo pay considerable attention to promoting an ecosystem that grows the user’s knowledge, trust, and investments in the DeFi sector.

Empowering Thai Developers with Scalable DeFi Infrastructure According to Bitkub Exchange, with this partnership, the Thai developers can expect new innovation opportunities. Hence, by utilizing the scalable infrastructure of Scallop and robust local presence of Bitkub, builders can establish consumer-first, influential, and

secure blockchain applications. Overall, this partnership will accelerate the position of Thailand in the worldwide DeFi world while providing developers with the resilient resources to shape the next era of next-gen financial solutions.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Walrus launches WAL's liquid staking token WAL LST

PANews reported on September 13th that Walrus, the protocol developed by Sui developer Mysten Labs, has officially launched WAL LST, a liquid staking token for WAL. The token is now available on WalrusLST and Haedal. Users can use WAL LST to redeem or lend tokens, provide liquidity, and enjoy flexible exits. Scallop is the first protocol to support WAL LST as collateral for lending. Users can earn rewards by staking WAL while using LST as collateral to borrow more assets.

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