Celestia [TIA] is increasingly exposed to bearish pressure as both market structure and sentiment deteriorate.
Although the asset has recorded only a modest 1.3% decline over the past 24 hours, underlying conditions point to a broader shift that could accelerate losses. Rising circulating supply and weakening demand continue to tilt the balance in favor of sellers.
Token unlock adds to supply overhang An upcoming token unlock is set to hit the market, with new TIA supply expected to enter circulation on the 29th of March.
According to DeFiLlama, the unlock represents just 0.032% of the current circulating supply, valued at roughly $85,000 at the time of writing. While relatively small, such events often influence short-term sentiment disproportionately.
Source: CoinGlass The allocation is expected to go toward research and development and core contributors within the ecosystem, indicating a utility-driven distribution.
However, market reactions to unlocks tend to reflect sentiment rather than fundamentals. With broader conditions already leaning bearish, the additional supply could reinforce downside pressure.
Spot market flips bearish Selling activity in the Spot market has intensified. On the 28th of March, Spot investors offloaded approximately $513,000 worth of TIA, marking a clear shift in positioning.
This move follows four consecutive days of gradual accumulation, making the reversal more significant. A transition from steady buying to aggressive selling typically reflects declining conviction and a more cautious market outlook.
The bearish tilt extends beyond the spot market. Derivatives data shows a similar pattern, reinforcing the broader weakness in TIA’s positioning.
Source: CoinGlass Breakdown shifts focus to lower levels From a technical standpoint, TIA has broken below a prolonged consolidation range that had held since the 5th of February, ending months of sideways movement. The breakdown signals a loss of structural support and reinforces bearish momentum.
The asset now trades below the $0.2967 support level. A sustained close beneath this threshold would confirm a continuation of the downtrend and increase the likelihood of a move toward the $0.233 region.
Source: TradingView With both fundamentals and technical indicators aligning to the downside, TIA remains vulnerable to further declines unless buyers reclaim key levels and restore momentum.
Final Summary Anticipated token unlocks have begun to weigh on Celestia’s sentiment, with Spot traders reversing course after days of steady accumulation. Key support levels will determine whether TIA stabilizes or extends its downside move.
Celestia’s TIA token surged 12.22% in 24 hours as volume jumped 77.62%, signaling a strong return of participation after weeks of muted activity.
The rally reflected renewed interest, which had started to rebuild following prolonged consolidation.
As trading activity increased, the price followed with a steady climb rather than a sudden spike, which suggested controlled demand.
However, this structure did not emerge randomly, as it aligned with broader recovery attempts across the range.
Increased participation supported continuation, though it also introduced short-term volatility as traders reacted quickly to price changes.
This dynamic placed TIA in a position where demand had clearly strengthened, while sustainability still depended on behavior near resistance.
TIA tests range highs after prolonged consolidation Following the rebound, Celestia [TIA] approached the $0.3882 resistance after holding support near $0.2828, maintaining a defined accumulation range.
Price had remained compressed within this structure for weeks, which reflected a balance between buyers and sellers.
As the rebound unfolded, candles pushed gradually toward the upper boundary, showing consistent demand rather than erratic movement.
However, previous rejection zones near resistance remained relevant, which meant buyers had not yet secured a breakout.
This range-bound behavior suggested that participants had accumulated positions within the lower band while preparing for expansion.
If price sustains pressure near the upper boundary, a breakout becomes more likely, while failure could reinforce continued consolidation.
The Relative Strength Index rose to 62.28, reflecting improving strength as price approached the upper range.
This reading moved above mid-levels, which indicated that buying pressure had increased compared to previous sessions.
As RSI trended upward, it showed that gains had followed a steady buildup in strength.
Source: TradingView TIA exchange inflows rise as selling risk grows Spot flows shifted toward inflows, with approximately $370K entering exchanges during the rally phase.
This change suggested that some participants had moved tokens to exchanges, likely preparing for potential selling activity.
Unlike accumulation phases, where outflows dominate, inflows introduced additional supply into the market.
As price climbed alongside these inflows, the structure reflected a mixed signal between demand and distribution.
However, this did not immediately invalidate the rally, as inflows can also support liquidity during upward moves.
If inflows continue increasing, they could cap further upside, especially near resistance where sellers typically re-enter.
Source: CoinGlass Open Interest expansion signals rising leverage Open Interest increased by 22.43%, reaching $54.96M, which reflected a sharp rise in leveraged participation during the price move.
This growth showed that traders had actively entered positions as the price advanced, reinforcing the strength of the current trend.
As Open Interest aligned with rising price, it suggested that new capital had entered the market rather than existing positions rotating.
However, increased leverage introduced higher risk, as crowded positioning can amplify volatility during reversals.
This structure often precedes sharp moves in either direction, depending on how the price reacts to key levels.
Source: CoinGlass Can TIA sustain its rally under pressure? TIA’s rally gained support from rising volume and expanding Open Interest, which reflected strong participation.
However, increasing inflows suggested that sell-side pressure had begun to build alongside the move.
If buyers maintain control above the current range, the price would likely attempt a breakout toward higher levels.
However, if inflows translate into selling near resistance, the rally could slow and return to consolidation.
Final Summary TIA rallied on strong volume, but exchange inflows suggest rising sell-side pressure near resistance levels. Open Interest expansion shows growing leverage, which could amplify volatility if the price faces rejection.
Celestia [TIA] rallied 14.84% to $0.3968 as trading volume surged over 418%, reflecting a sharp resurgence in market participation and renewed trader interest.
This expansion in activity followed a prolonged period of low engagement, where price had remained compressed within a tight range.
As volume accelerated, price responded decisively, signaling that buyers had stepped in with stronger conviction. The move suggested that demand had started absorbing prior sell pressure, allowing TIA to push higher.
However, such aggressive volume spikes often reflect both genuine accumulation and short-term speculation, which could influence how sustainable the rally becomes as participation continues evolving.
Are Binance traders leaning too heavily long on TIA? Binance top traders shifted decisively toward long positioning, with 70.35% of accounts holding longs against 29.65% shorts, pushing the long/short ratio to 2.37.
This positioning reflected a strong directional bias, as traders increasingly aligned with the upward move.
As a result, sentiment had turned clearly bullish, reinforcing the price expansion already underway.
However, such imbalance often introduces risk, since crowded long positioning can leave the market vulnerable to sudden downside reactions.
If price fails to sustain upward pressure, these positions could unwind quickly. Still, as long as buyers maintain control, this skew could continue supporting upward price development in the near term.
Source: CoinGlass TIA breakout structure strengthens Price broke out of its accumulation range between $0.2891 and $0.3688, reclaiming the $0.36 level as support and pushing toward the $0.45 resistance zone.
This move followed a rounded base formation, where price gradually transitioned from consolidation into expansion as buyers stepped in near range lows.
As a result, structure improved, allowing higher lows to form before acceleration began. In addition, the MACD line crossed above the signal line while histogram bars turned positive, reinforcing the strength behind the breakout.
This alignment suggested that underlying buying pressure had started supporting price continuation rather than short-term spikes.
However, the $0.45 level still stands as a key barrier where prior selling emerged.
If the price holds above $0.36, the structure could remain intact and allow further upside development toward higher resistance zones.
Source: TradingView Short liquidations fuel the rally’s extension Short liquidations dominated recent activity, with $58.12K in short positions wiped out compared to $15.43K in long liquidations.
This imbalance highlighted that bearish traders had been caught offside as price moved higher.
As these positions closed, forced buying added further upward pressure, accelerating the rally beyond organic demand. This dynamic often creates sharp price spikes, as liquidation-driven moves amplify existing trends.
However, once liquidation pressure subsides, price action can stabilize or retrace depending on underlying demand. If buyers continue stepping in after this phase, the rally could extend.
Source: CoinGlass TIA’s rally faces rising risk as long positioning crowds the trade. Sustained upside would require holding above $0.36 with continued demand.
Otherwise, failure near resistance could expose overleveraged longs, increasing the likelihood of a long squeeze and sharp downside reaction.
Final Summary TIA’s rally was driven by strong volume and breakout, but long crowding increases downside risk. Holding above $0.36 would support continuation; failure could trigger long squeeze pressure.
PANews reported on April 22 that Everstake announced it will exit the Celestia ecosystem by April 28 , ceasing its services as a $TIA validator. Everstake reminded current $TIA holders staking on its nodes to redeem their tokens or restake them to other validators before that date to avoid impacting their staking rewards or equity.
Author: PA一线
This content is for market information only and is not investment advice.
Celestia [TIA] climbed 10.28% in 24 hours while trading volume surged 55.86% to $88.62 million, signaling renewed speculative demand across the market.
The rally emerged after TIA spent months trading within a compressed consolidation structure near lower support zones.
Buyers regained control once price reclaimed the $0.45 region, which previously acted as a strong resistance barrier.
Market capitalization also increased 10.48% to $453.2 million, reflecting broader capital inflows into the asset.
However, the recovery did not rely solely on price appreciation. Rising trading activity showed that participation had expanded significantly during the breakout phase.
As volatility returned, traders increasingly positioned around TIA’s strengthening structure, raising expectations for additional upside continuation.
Spot flows shifted back positive Spot market behavior strengthened after Netflows turned positive with over $683.98K entering exchanges on the 13th of May. The inflow spike followed several weeks where outflows frequently dominated activity across the market.
Buyers appeared increasingly active once TIA reclaimed higher resistance zones above $0.45.
Exchange inflows often reflect rising positioning activity because traders move tokens toward platforms during periods of elevated volatility and speculation.
Nevertheless, broader flow behavior remained relatively balanced compared to previous aggressive distribution phases.
Several historical inflow spikes had previously triggered temporary rallies before fading rapidly.
This time, however, TIA maintained strength while inflows accelerated, suggesting traders had sustained bullish participation instead of immediate profit-taking.
If inflows continued supporting price action, TIA could preserve upward pressure toward higher supply zones.
Source: CoinGlass Breakout Structure Targeted $0.60 TIA broke above the critical $0.45 resistance after spending months consolidating between the $0.28 and $0.38 range. The breakout followed a rounded recovery structure that gradually strengthened throughout April and early May.
Buyers repeatedly defended the $0.3426 support zone before reclaiming higher resistance levels.
The current structure showed improving bullish control as candles continued closing above former breakout regions.
In addition, the chart projected a possible continuation toward the $0.60 resistance zone if buyers maintained support above $0.45.
Earlier rallies had failed near similar levels after sellers regained dominance quickly.
This time, however, price action sustained a stronger follow-through while higher lows continued forming beneath resistance.
If TIA preserved this breakout structure, buyers could continue targeting the next major supply area.
MACD indicators strengthened further as the bullish crossover expanded above the neutral zone. Green histogram bars also continued increasing, showing that buying pressure intensified during the latest recovery phase.
Source: TradingView Open Interest climbed alongside price Open Interest climbed 8.63% to $84.46 million as leveraged traders increasingly positioned around TIA’s breakout structure.
The rise in derivatives exposure aligned with strengthening spot demand and expanding technical structure across the daily timeframe.
Traders appeared increasingly confident after TIA reclaimed resistance zones that previously limited upside continuation.
Rising Open Interest alongside price expansion often reflects fresh positioning entering the market rather than traders closing exposure.
However, elevated derivatives activity also increased the probability of volatility if buyers lost control near resistance.
Previous Open Interest spikes had occasionally preceded liquidation-driven pullbacks after traders became overcrowded.
Current positioning nevertheless remained supported by rising volume and improving structure.
Source: CoinGlass In conclusion, TIA has shown a strengthening bullish structure after reclaiming key resistance alongside rising volume, positive Netflows, and expanding Open Interest.
Buyers maintained control above the $0.45 breakout region while MACD indicators continued supporting bullish continuation.
If current demand remained stable near reclaimed support, TIA could continue advancing toward the $0.60 resistance zone during the next recovery phase.
Final Summary TIA reclaimed key resistance as buyers increased exposure across spot and derivatives markets. Bullish MACD structure and rising Open Interest continued supporting TIA’s breakout continuation setup.
Celestia (TIA) edges above $0.4400 at press time on Friday, extending recovery for the third consecutive day so far this week. A surge in retail demand and social buzz backs the sudden rebound in price, which lacks a clear fundamental driver. The technical outlook for TIA is bullish, with momentum improving as price nears a key resistance zone between $0.4596 and $0.4722.
Retail frenzy drives Celestia rallyCelestia is gaining retail strength as it emerges as a top performer in the broader crypto market, with three straight days of recovery. CoinGlass data shows an increase in leverage-linked trading activity, driving the TIA Open Interest (OI) to $67.82 million, up over 10% in the last 24 hours. At the same time, the funding rate is 0.0042% as of Friday, suggesting traders are willing to hold long positions at a premium.
TIA derivatives data. Source: CoinGlassOn the other hand, Santiment data shows a sharp uptick in social dominance to 0.024% out of all crypto-related posts, indicating increased social buzz around Celestia.
Celestia social metrics. Source: Santiment.Technical outlook: Will Celestia rally cross $0.50?Celestia holds a constructive near‑term bias, with three straight days of recovery, beginning with a 6% rebound on Wednesday. The short-term rally has crossed above the 100-day EMA at $0.4015 and the 50% retracement level at $0.4104, measured from the January 13 high of $0.6257 to the February 6 low of $0.2693.
The immediate resistance for TIA lies at the $0.4596-$0.4722 supply zone, which capped an earlier breakout attempt this month. A clear push above this zone would position 78.6% Fibonacci retracement level at $0.5224 as the next resistance.
The Relative Strength Index (RSI) near 60 on the daily chart suggests persistent buying pressure, with further upside potential before reaching the overbought zone. Meanwhile, the Moving Average Convergence Divergence (MACD) rises toward its signal line, hinting at a potential bullish crossover. The contracting negative histogram bars reaffirm a declining downside momentum.
TIA/USDT daily price chart.On the downside, first support is located at the 50% retracement level at $0.4104, reinforced by the 100‑day EMA at $0.4015 and the 50‑day EMA at $0.3844.
(The technical analysis of this story was written with the help of an AI tool.)
(This story was corrected at 11:10 GMT to say in the first bullet and paragraph that it is Friday, and not Thursday.)
PANews reported on May 26th that, according to SoSoValue data, the cryptocurrency market saw mixed performance across sectors. The SocialFi sector rose 5.90% in the last 24 hours, with Toncoin (TON) surging 8.73% within the sector. The DePIN sector rose 2.99%, with Render (RENDER) up 9.24% and Grass (GRASS) up 13.67% within the sector.
In other sectors, the AI sector rose 0.06%, with Unibase (UB) rising 18.95%; the Layer 2 sector rose 0.06%, with Celestia (TIA) rising 11.44%.
In addition, the Layer 1 sector fell 0.28%, but NEAR Protocol (NEAR) rose 12.14%; the CeFi sector fell 0.35%, while Bitget Token (BGB) remained relatively strong, rising 0.71%; the Meme sector fell 1.23%, while MemeCore (M) bucked the trend, rising 3.63%; the PayFi sector fell 1.26%, while Ultima (ULTIMA) rose 1.59% intraday; the DeFi sector fell 2.22%, with Hyperliquid (HYPE) hitting a new high before pulling back 3.28%, falling below $60.
Celestia’s TIA rallied over 11% while trading volume exploded nearly 197% across the last 24 hours. The sharp increase reflected renewed speculative activity around the token.
At the time of writing, TIA reached $0.4636 after buyers reclaimed control near the mid-range support region.
Trading Volume climbed to nearly $96.2 million, suggesting fresh participation entered during the breakout attempt.
However, the rally did not emerge from isolated buying pressure alone.
Traders increasingly rotated back into higher-risk altcoins after weeks of sideways consolidation. TIA had already shown accumulation signs earlier this month, and the latest move strengthened that recovery structure further.
If buyers continue defending reclaimed levels, TIA could attempt another move toward higher resistance zones.
Why are TIA traders turning bullish? Open Interest climbed 13.70% to nearly $77.39 million as leveraged traders expanded exposure during TIA’s latest rally.
The increase suggested that speculative positioning had accelerated, rather than fading, despite recent volatility near the resistance level.
Rising Open Interest alongside price appreciation usually reflects fresh capital entering the derivatives market rather than positions closing under pressure.
Additionally, the structure revealed that traders continued to build directional exposure while volatility remained elevated across the broader cryptocurrency market.
Such behavior often reflects growing confidence in short-term continuation rather than defensive positioning.
However, rising leverage also increases liquidation risk whenever volatility expands aggressively.
Therefore, traders would likely monitor whether Open Interest continues climbing alongside price action or starts diverging during future rallies.
Source: CoinGlass Can TIA hold the reclaimed range? TIA reclaimed the critical $0.45 support zone after months of consolidation within a broad accumulation range.
The Daily Chart showed buyers regaining control after repeated defenses near the $0.3426 support level earlier this year.
At press time, TIA traded near the upper boundary of the established range while attempting to build momentum toward $0.60 resistance. However, TIA still traded beneath a major resistance region that previously triggered heavy selling pressure.
Buyers continued defending higher lows throughout May, strengthening the broader recovery trend.
On top of that, the breakout above mid-range resistance shifted short-term sentiment back toward bullish territory.
If TIA maintains stability above $0.45, buyers could attempt another move toward $0.60.
Failure to defend that zone, however, could weaken bullish momentum and trigger another consolidation phase. The MACD remained bullish as the Signal Line crossover strengthened above the zero line on the Daily Chart.
Histogram Bars also stayed positive, indicating buyers still controlled short-term momentum.
Unlike earlier rallies that faded quickly after rejection, the current structure showed steadier continuation with fewer sharp reversals.
Source: TradingView Binance traders remain heavily long on TIA Binance top traders continued leaning heavily bullish, with 66.07% of accounts remaining positioned long on TIA.
Short accounts only represented 33.93% of positioning, highlighting a clear directional bias favoring upside continuation despite recent volatility near resistance.
The Long/Short Ratio also hovered near 1.95, reinforcing the growing confidence among leveraged participants.
Such positioning often reflects expectations of sustained price expansion rather than temporary relief rallies.
However, crowded long positioning can also increase liquidation risks whenever price weakens unexpectedly near resistance zones.
Source: CoinGlass Final Summary Celestia [TIA] jumped over 11% as Trading Volume surged nearly 197%. Binance’s top traders were 66.07% long, which supports bullish sentiment but raises liquidation risk.
Celestia [TIA] was one of the handful of tokens in the crypto market that posted noticeable gains in the past 24 hours. The altcoin was up 5.2% with a 30% increase in trading volume, but its long-term trend was not bullish.
As we shall explore soon, the token has been in a higher timeframe downtrend since April 2024. Any rally, even sizeable ones, has only operated within this downtrend and served as a relief rally.
Steady token unlocks and a shift in narrative towards AI and RWAs, as well as a lack of sustainable adoption, were likely the biggest reasons why Celestia was undergoing a prolonged downturn.
Though the Open Interest boost of 11.3% in 24 hours indicated speculative inflows, the wider market pessimism is likely to send TIA lower once more.
The TIA downtrend and consolidation in 2026 Source: TIA/USDT on TradingView The Fibonacci retracement levels (orange) captured the swing structure on the 1-day timeframe. The altcoin set a swing low at $0.429 in December 2025, bounced to $0.625, then careened to $0.269 by early February 2026.
This bearish impulse move broke the previous swing low, marking $0.625 as the high that the buyers need to reclaim to establish a bullish structure.
This might not happen anytime soon. The OBV has been in decline since May, and TIA has twice faced rejection from the 61.8% retracement level at $0.489.
Since February, the altcoin has also formed a range between $0.284 and $0.463. This meant that the $0.45-$0.50 was a key overhead supply zone, alongside the $0.549 retracement level.
TIA traders would be looking to sell this bounce Source: TIA/USDT on TradingView Using a similar analysis on the 4-hour chart, the bearish swing structure was used to plot retracement levels. The recent bounce reached the $0.411 level before facing rejection, and was falling lower at press time.
Though the MFI climbed to 75, the trend favored the sellers. Traders can look to short Celestia, especially if Bitcoin continues its descent below the $65k level.
Even a move up to the golden pocket between $0.411 and $0.447 would still be part of a seller-controlled market. A breakout past $0.625 is needed to escape the long-term bears’ clutches.
Final Summary Celestia’s bounce and volume spike in the past 24 hours should not be taken as an encouragement to buy. The 4-hour chart showed a downtrend in progress, and TIA’s jump to $0.411 presented a selling opportunity.
Bitcoin (BTC) hovers above $64,000 at press time on Tuesday, holding steady after a roughly 4% drop last week. Data shows that institutional outflows are easing, suggesting broader market recovery potential, while DeXe (DEXE) and Celestia (TIA) have emerged as frontrunners over the last 24 hours.
Bitcoin sustains a minor recovery as ETF outflows coolBitcoin-focused Exchange Traded Funds (ETFs) recorded four consecutive weeks of over $1 billion in outflows in May and early June. However, institutional trimming has since eased, with $226 million in outflows last week and $315 million the previous week.
Six consecutive weeks of outflows are mirrored in Ethereum (ETH)-focused ETFs, with $10.05 million last week, followed by $14.91 million the previous week.
Crypto ETFs data. Source: CoinGlassBitcoin maintains a mixed near-term bias, with price remaining below both the 50-day and 200-day Exponential Moving Averages (EMAs) at roughly $68,889 and $78,623, respectively, but holding above a short-term support trendline.
Momentum is mixed on the daily chart, with the Moving Average Convergence Divergence (MACD) holding positive histograms as the average lines rise, while the Relative Strength Index (RSI) at around 41 remains below the neutral band, suggesting rallies could still meet selling pressure.
On the topside, initial resistance is seen at the 50-day EMA near $68,889, where any rebound is likely to be tested, followed by the reclaimed bearish rising trendline around $73,439, with the 200-day EMA near $78,623 acting as a more distant cap.
BTC/USDT daily price chart.On the downside, immediate support emerges from the more recent upward trend configuration around $63,341, while a deeper pullback would put focus on the psychological and structural floor at $60,000, where buyers previously defended the larger bullish structure.
DeXe and Celestia regain bullish strengthDeXe is up over 18% on Tuesday, extending its 32% rise from the previous day. DEXE holds well above the 50-day EMA around $16.13 and the 200-day EMA near $10.67, approaching the June 3 high at $24.49.
The RSI near 60 suggests positive but not overstretched momentum even as the MACD line rises toward its signal line for a potential bullish crossover, hinting at a moderating bullish impulse rather than outright exhaustion.
Looking up, the next notable resistance aligns with the Fibonacci anchor near $24.49, where a sustained break higher would reopen the path toward fresh cycle highs. The 127.2% and 161.8% Fibonacci extension levels are at $31.40 and $43.08, respectively, serving as overhead barriers.
DEXE/USDT daily price chart.Looking down, initial support is seen at the 78.6% Fibonacci retracement at $20.14, followed by the 50% retracement at $15.50.
Celestia is up over 3% at press time on Tuesday, extending its 5% rebound from the 50-day EMA at $0.3738 the previous day. Momentum has improved as the RSI lifts toward 56 and the MACD and signal line rise into the positive territory, hinting that buyers retain the short-term initiative while price remains above the 50-day EMA.
On the topside, initial resistance is aligned at the 50% retracement of the downswing from $0.6257 to $0.2693, at $0.4104, ahead of a stronger supply barrier between $0.4596 and $0.4722.
TIA/USDT daily price chart.On the downside, immediate support is seen around the 50-day EMA at $0.3738. A break there would expose the 23.6% retracement at $0.3285, while only a deeper slide toward the $0.2693 swing low would undermine the emerging constructive tone.
(The technical analysis of this story was written with the help of an AI tool.)
TLDRSolana Company Expands Validator Footprint Across APACJito Foundation Advances Institutional Staking With JitoSOLGet 3 Free Stock Ebooks Solana Company and Jito Foundation formed a partnership to expand institutional staking across Asia-Pacific. The companies will jointly deploy and operate Solana validator servers in key APAC markets. The validator rollout will use Solana Company’s Pacific Backbone network in four countries. The partnership will develop institutional staking products based on JitoSOL for Asian asset managers. Solana Company holds about $180 million worth of SOL as part of its treasury strategy. Solana Company and Jito Foundation have formed a partnership to expand institutional validator and staking infrastructure across the Asia-Pacific. The companies will deploy Solana validators and develop staking products for large financial firms. They aim to strengthen compliant participation and increase Solana adoption in key regional markets.
Solana Company Expands Validator Footprint Across APAC Solana Company confirmed it will jointly establish and operate Solana validator servers across Asia-Pacific with Jito Foundation. The rollout will anchor on Pacific Backbone, Solana Company’s institutional infrastructure network operating in Hong Kong, Singapore, Japan, and South Korea. The companies stated they will use this network to support secure and scalable validator services for institutional clients.
Through this partnership, both firms will focus on delivering institutional-grade infrastructure and improving staking yield performance. They will integrate Jito’s market layer technology with Solana Company’s regional network and client relationships. Marc Liew, head of APAC at Jito Foundation, said, “We’re creating a stronger foundation to enable scalable, compliant participation in the Solana ecosystem.”
Solana Company operates as a publicly listed digital asset treasury focused on SOL holdings. The company currently owns about $180 million worth of SOL, according to its statement. It plans to use its balance sheet and infrastructure to support validator expansion in the region.
Jito Foundation Advances Institutional Staking With JitoSOL Jito Foundation will support the initiative by deploying its liquid staking and MEV infrastructure across the new validator network. The organization operates a liquid staking platform and issues the JitoSOL token within the Solana ecosystem. Through this collaboration, the firms will design staking products based on JitoSOL for asset managers and wealth managers in Asia.
The companies said they will tailor these products to meet institutional requirements and compliance standards in regional markets. They will also seek to optimize staking rewards through Jito’s validator and MEV technology stack. The partnership aims to align validator operations with the needs of regulated financial institutions.
Jito Foundation has secured institutional backing to expand its operations. In 2024, Andreessen Horowitz invested $50 million in Jito through a strategic private token sale. The firms confirmed they will begin deploying validators across the Pacific Backbone network in the coming months.
Jito Foundation and Solana Company have announced a strategic partnership aimed at building institutional-grade Solana validator infrastructure and staking products across Asia-Pacific (APAC). The collaboration specifically targets asset managers and financial institutions in key markets, including Hong Kong, Singapore, Japan, and South Korea.
Focus on institutional staking solutionsThe two firms will work together to operate high-performance validators within the Solana network. Leveraging the Pacific Backbone infrastructure, the partnership will deploy Jito’s Block Assembly Marketplace (BAM) technology. This solution is designed to process transactions on Solana more efficiently and to optimize network operations.
As part of the agreement, Jito Foundation will also develop institution-specific staking and yield products built around its liquid staking token, JitoSOL. These offerings are tailored to the needs of asset managers, portfolio advisors, and regulated financial institutions.
Highlighting APAC’s position as a leading region for institutional crypto adoption, Marc Liew, Head of APAC at Jito Foundation, stated that this collaboration reflects their ambition to strengthen the local crypto ecosystem and deepen strategic ties within the region.
Background of Solana Company and Jito FoundationSolana Company, listed on NASDAQ under the ticker HSDT, operates as a digital asset treasury. The firm reportedly holds approximately $180 million worth of SOL tokens in reserve. Founded through a partnership with Pantera and Summer Capital, the company underwent a 1-for-50 reverse stock split in 2025. Its shares most recently traded at $2.19.
Jito Foundation sits at the core of Solana’s validator economy, acting as a platform for liquid staking and maximized extractable value (MEV). By offering the JitoSOL token, Jito Foundation enables users to stake their assets on-chain without sacrificing liquidity. Last year, venture firm Andreessen Horowitz (a16z) made a significant $50 million investment by purchasing Jito tokens.
Teddy Hung, Solana Company’s Head of Business Development and Advisory, explained that the partnership addresses real demand from institutional investors. Hung pointed out that combining Jito’s technology with the Pacific Backbone infrastructure will help APAC-based institutions operate securely and in compliance with local regulations on Solana.
Scope of collaboration and regional crypto outlookThe partnership will focus on three main areas. First, the companies plan to deploy joint BAM validators across four countries covered by Pacific Backbone. Second, they will build enterprise-grade staking solutions based on JitoSOL. Third, strategies will be formed for regional market entry, growth initiatives, research projects, education, and industry participation.
The firms have not disclosed financial terms or the timetable for launching the first validators as part of this initiative.
Institutional interest in crypto infrastructure across APAC has surged lately. Hong Kong has introduced regulations for crypto exchanges, while Singapore has continued to reinforce its role as a global digital asset hub. Both Japan and South Korea have established comprehensive legal frameworks for cryptocurrencies. In this diverse regulatory environment, where corporate staking demand is growing rapidly, the partnership aims to help both Jito Foundation and Solana Company expand their market shares.
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.
Partnership news continues to emerge in the cryptocurrency sector. The latest news comes from two altcoins listed on Binance.
Accordingly, news of a major partnership has come from Jito (JTO) and Solana (SOL).
JTO Foundation announced a strategic partnership with The Solana Company, a SOL-focused staking company, to expand Solana (SOL) staking infrastructure in the Asia-Pacific region (APAC).
The partnership aims to expand validator and staking infrastructure for institutions and accelerate the institutional adoption of Solana in the APAC region.
As part of the partnership, both parties plan to jointly establish and operate Solana validator servers in the Asia-Pacific region, as well as develop jitoSOL-based staking products for major financial institutions.
This collaboration will be centered around Solana Corporation’s “Pacific Backbone,” an enterprise infrastructure network connecting Hong Kong, Singapore, Japan, and Korea.
Marc Liew, Head of Asia-Pacific at the Jito Foundation, stated: “The Asia-Pacific region is one of the most important regions for institutional cryptocurrency adoption, and this partnership reflects our commitment to building the infrastructure and relationships we believe are necessary to support this growth. By combining Jito’s market-layer technology with Solana Company’s deep expertise and institutional network, we are creating a stronger foundation that will enable scalable and cohesive participation in the Solana ecosystem.”
The Solana Company is a publicly traded DAT company with approximately $180 million worth of SOL.
*This is not investment advice.
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Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
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Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Jito Foundation has teamed up with Nasdaq-listed Solana Company to expand institutional-grade Solana validator and staking infrastructure across the Asia-Pacific region.
The move comes as blockchain networks compete to attract regulated financial institutions and professional investors, analysts said.
Per the announcement, the partnership will see the to organizations jointly deploy and operate high-performance Solana validators across Hong Kong, Singapore, Japan, and South Korea through Solana Companyy’s Pacific Backbone platform.
The platform is an institutional infrastructure network focused on the region’s key financial hubs.
The validators will run Jito’s Block Assembly Marketplace, or BAM, connecting them to Jito’s block-building infrastructure to support optimized transaction processing across the Solana network.
The companies also plan to co-develop staking and yield solutions built around JitoSOL, Jito’s liquid staking token, for institutional investors, including asset managers, wealth managers, and regulated financial entities, according to the announcement.
The products will be delivered through Solana Company’s advisory service model, with a focus on operational and compliance requirements for large-scale capital allocators, the companies said.
The partnership comes as institutional interest in blockchain infrastructure, staking, and digital asset yield products continues to grow, particularly in Asia-Pacific markets where financial institutions are exploring regulated access to crypto assets and on-chain services.
Marc Liew, head of APAC at Jito Foundation, said the region is one of the most important markets for institutional crypto adoption.
“By combining Jito’s market layer technology with Solana Company’s deep regional expertise and institutional network, we’re creating a stronger foundation to enable scalable, compliant participation in the
Solana ecosystem,” Liew said.
Teddy Hung, head of business development and advisory at Solana Company, said institutional blockchain adoption is increasingly focused on how institutions can engage with networks such as Solana in a compliant and operationally robust manner.
“Institutional blockchain adoption is no longer a question of if, but of what and how,” he pointed out.
Solana Company, which trades on Nasdaq under the ticker HSDT, is a listed digital asset treasury company focused on acquiring Solana tokens and was created in partnership with Pantera and Summer Capital.
Jito Labs, the team behind one of Solana’s most critical infrastructure layers, is making a significant pivot. The company is launching JTX, a self-custodial trading platform built on Solana that aims to deliver the slick experience of a centralized exchange without asking users to hand over their keys.
From plumbing to storefront JTX is designed for what the team calls “pro retail” or “prosumer” users, the crowd that’s too sophisticated for basic swap interfaces but doesn’t necessarily want to wire funds to an offshore exchange.
At launch, the platform will support spot trading for verified Solana assets and real-world assets. The roadmap from there gets more ambitious: perpetual futures and prediction markets are both on the development timeline.
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The company isn’t exactly strapped for resources to make this work. Jito has over $100 million in cash on hand to fund its expansion into consumer-facing products.
The tokenomics play Perhaps the most interesting design decision is how JTX handles revenue. The platform will channel 80% of protocol revenue back to the Jito Protocol and JTO token holders. The remaining 20% goes toward product development.
For JTO holders, this transforms the token from a pure infrastructure play into something with direct exposure to consumer trading volume.
Why this matters for Solana’s competitive landscape Jito’s stated goal with JTX is to attract trading flow from other chains and centralized exchanges. Centralized exchanges still handle the overwhelming majority of crypto trading volume, and convincing traders to move on-chain requires clearing a high bar on execution quality, latency, and asset availability.
JTX enters a Solana trading ecosystem that’s already competitive. Jupiter dominates aggregation. Raydium and Orca handle the bulk of AMM liquidity. Drift Protocol and other platforms serve the perpetual futures crowd.
Jito’s MEV products already give it deep visibility into Solana’s transaction flow and block construction. Building a trading platform on top of that knowledge means JTX could potentially offer better execution than competitors who don’t have the same level of insight into the chain’s inner workings.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Jito’s Block Assembly Marketplace, better known as BAM, went from controlling roughly 14% of Solana’s total network stake to 28.1% in the span of a single quarter.
During Jito’s Q1 2026 earnings call held in late May, the protocol laid out numbers that paint a picture of accelerating adoption across nearly every metric that matters. The SOL staked to BAM validators more than doubled, jumping from 59.2 million to 119.3 million. The number of validators running BAM grew 56%, reaching 363 by the end of the quarter.
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The numbers behind the surge Protocol revenue for Q1 totaled $2.33 million, while gross tips processed hit $19.85 million. JitoSOL’s total value locked sat at approximately $1 billion in SOL terms.
The post-Q1 trajectory suggests this wasn’t a one-quarter blip. BAM’s stake share continued climbing to roughly 31-32% after the quarter closed. By late April, the network showed around 118 million SOL staked across 344 validators.
Buybacks paused, growth prioritized Jito is explicitly choosing not to return capital to token holders through buybacks. Instead, it’s channeling revenue into BAM incentive programs designed to pull more validators into the ecosystem.
The mechanism for this is JIP-31, a DAO proposal that establishes early adopter subsidies for validators running BAM.
Institutional expansion and the Solana Company partnership On May 6, 2026, Jito announced a strategic partnership with Solana Company focused on deploying BAM validators in the Asia-Pacific region. The deal also targets expanding access to JitoSOL products for institutional investors.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
PANews reported on May 28th that, according to its official blog, Coinbase staked approximately 40.48 million Solana coins in Q1 2026, representing about 9.52% of the total Solana staked on the network. It operates 23 validators across 6 countries using 100% self-built bare-metal nodes, achieving an APY of approximately 7.02%, slightly higher than the network average of 6.95%. Its block delay rate was 0.041%, lower than the network average of 0.198%. Its validator cluster employs a multi-client architecture including Harmonic, Jito, JitoBAM, Rakurai, and Firecanver, all adhering to the Solana Foundation's compliance requirements for schedulers. Coinbase also announced plans to test and integrate the Solana consensus layer rewrite upgrade "Alpenglow" and the network fiber backbone project "DoubleZero," aiming to achieve fast finality (100-150 milliseconds) and lower network latency in the future.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Jito [JTO] crashed 13.27% in the last 24 hours, while its market capitalization fell to $226.63 million as trading volume dropped 11.72% to $73.41 million.
The decline arrived alongside weakening participation across both Spot and derivatives markets, highlighting growing caution among traders.
Trading activity remained relatively elevated despite the decline, indicating that sellers continued driving order flow throughout the session. However, the reduction in volume suggested that buyers offered less support than during previous rallies.
As a result, JTO extended its retracement and moved further away from recent local highs, reflecting a market structure that remained under pressure across multiple key metrics.
Participation dries up across JTO derivatives Derivatives traders also reduced exposure aggressively during the correction.
Open Interest fell 20.18% to $33.44 million, showing that leveraged positions exited the market instead of expanding during volatility.
The decline reflected a broad reduction in speculative activity rather than fresh bullish positioning entering the market. Such behavior often emerged when traders chose to protect capital amid uncertain conditions.
While falling Open Interest did not automatically imply a bearish trend continuation, it usually indicated weaker conviction among leveraged participants.
However, the absence of rising leverage reduced the probability of an immediate squeeze-driven recovery. Until traders begin rebuilding exposure, JTO could continue facing difficulty attracting enough participation to support a sustained rebound.
Source: CoinGlass Can buyers defend the range structure? JTO remained trapped inside a broad consolidation range between $0.2318 and $0.5906 despite the recent correction.
The token traded near $0.479, placing it above the key mid-range support at $0.4019 while remaining below the upper resistance boundary at $0.5906.
Recent attempts to push toward the top of the range lost strength before reaching resistance, allowing sellers to regain short-term control.
However, the broader structure remained intact as buyers continued defending higher levels within the range. The DMI also supported that view. ADX stood at 41.59, showing that trend strength remained elevated, while +DI held at 24.89 above -DI at 12.59.
This configuration suggested buyers still retained a structural advantage despite the pullback.
If support around $0.4019 continues holding, JTO could revisit higher liquidity zones. Otherwise, sellers could drive prices toward lower demand levels inside the established range.
Source: TradingView Liquidity clusters reveal the next battleground for JTO Liquidation data highlighted several important areas that traders could monitor closely. Dense short liquidation clusters continued building between $0.50 and $0.55, creating a potential liquidity target above current price levels.
Markets often gravitated toward regions containing concentrated leverage because liquidations can amplify price movement.
As a result, a recovery toward that zone could trigger a cascade of short liquidations and accelerate upside volatility.
Beneath current levels, major liquidity remained concentrated around the $0.46 region. This area could attract price if selling pressure persists.
The heatmap therefore showed liquidity positioned on both sides of the market, although the larger concentration above the current price continued standing out as a key level that traders would likely monitor closely.
Source: CoinGlass In conclusion, JTO remained under pressure after its double-digit decline, while shrinking Open Interest reflected fading speculative participation.
However, the broader range structure remained intact, and the DMI continued favoring buyers despite the correction. If support around $0.4019 continues holding, JTO could attempt a move toward the liquidity cluster between $0.50 and $0.55.
Otherwise, sellers could push prices back toward lower demand zones within the established range.
Final Summary Open Interest decline shows that traders are reducing risk during JTO’s correction. JTO still holds key range support despite growing bearish pressure.
Jito [JTO] is up about 29% in the past 24 hours, extending its weekly rally to more than 33%. The daily trading volume has jumped by more than 161.6% to around $123 million, indicating real demand.
The growing momentum of the ‘Jito economy’ drives the demand, and here is how it is shaping JTO’s trajectory:
‘Jito economy’ pushing JTO’s price up? Many factors influenced the ‘Jito economy,’ including staking rewards, buybacks from fees, and increased trading activity. For example, different lending and staking protocols increased the average APY from 4% to 5.58%.
However, that of Bybit rose to 7.30%. This represented an 82.5% increase, framing the token as a key Solana [SOL] infrastructure play. This higher yield created a strong incentive to stake JTO, effectively locking up supply and reducing immediate sell pressure.
Source: CoinMarketCap Additionally, there was the introduction of JTX fees, which were going to JTO holders. Several revenue lines representing the ‘Jito economy,’ including JTX and JitoSOL, influenced JTO’s buybacks.
Despite JTO getting the fee share from JTX right, its core game was still staking, not the exchange trading of perps and the Spot market. JTX needs to achieve actual volume dominance to be compared with the impact of staking rewards.
This holder growth was evident as the number rose from 81.52K to 81.58K in a day of increased speculative trading. The token’s volume rose from $26.98 million to $97.14 million, reflecting real demand in JTO.
Source: DefiLlama In fact, the token was among the top volume-change leaders on major CEXs, that is, Binance, Bybit, and Coinbase. All together, this represented momentum in the ‘Jito economy’ narrative, thus pushing the altcoin’s price.
JTO’s buying spree resumes On the charts, JTO’s price has been respecting a rising trendline after breaking out from a two-month range. The head of an inverted head-and-shoulders pattern touched the rising trendline, and the price has broken above the neckline.
The MACD has had a crossover and the second green bar, which is double the first one. Additionally, the net volume spiked for the third time in the month, reaching 4.74 million JTO.
The day’s token volume indicated a resumption of a buying spree seen in May.
Source: JTO/USDT on TradingView Currently, the altcoin is testing the $0.70 level, which prevented the May rally from advancing higher. The ongoing pattern could mean continuation.
Otherwise, failure to breach this level would indicate a potential return to the neckline at $0.55 for a retest. It could even go lower, specifically to the support level indicated by the slanting trendline.
Final Summary JTO surged by more than 29% in the past 24 hours, driven by the ‘Jito economy’ narrative, which has strong momentum. JTO’s buying spree returns, but bulls struggle at the $0.70 zone—a break above would suggest uptrend continuation.
The BeInCrypto Institutional 100 Awards 2026 enters its final stage with the Access to Digital Assets pillar narrowed to 16 shortlisted firms across four categories.
This pillar focuses on companies that help institutions enter, evaluate, and manage digital asset exposure. The shortlist includes product issuers, asset managers, global banks, and market data platforms. The winners were announced at Proof of Talk in Paris on June 2, 2026.
The firms below are listed alphabetically within each category. They are not ranked.
Welcome to the BeInCrypto x @ProofOfTalk Institutional 100 Awards, live from the iconic Louvre Palace in Paris.
Tonight we recognize the institutions and leaders shaping the future of digital asset finance across 25 categories.
Thank you for being part of this historic first…
— BeInCrypto (@beincrypto) June 2, 2026 Best Digital Asset Product This category recognizes regulated investment products that give institutions exposure to digital assets. The shortlist covers spot ETFs, multi-asset crypto products, and tokenized funds.
Shortlisted FirmWhy It Made the ShortlistBitwiseBSOL became the largest US spot Solana ETF after its October 2025 NYSE launch. It captured over 80% of the category’s cumulative inflows. BITB also anchors Bitwise’s $15 billion-plus crypto product platform across the US, UK, and Europe.BlackRockIBIT scaled to roughly $67 billion in AUM by early May 2026, making it the institutional benchmark for spot Bitcoin ETF exposure. BUIDL also crossed $3 billion, leading the global tokenized money market fund category.Fidelity InvestmentsFBTC ranks second behind IBIT in the spot Bitcoin ETF cohort, with about $17 billion in AUM. Fidelity also custodies the product in-house through Fidelity Digital Assets, NA, its national trust bank.Franklin TempletonThe BENJI tokenized money market fund suite crossed $1.98 billion in AUM by April 2026. It is now deployed across more than eight public blockchains, giving it the broadest chain coverage among institutional tokenized funds. Fund Manager of the Year This category recognizes firms managing major dedicated investment vehicles in crypto. It covers venture capital, hedge funds, and tokenized strategies.
Shortlisted FirmWhy It Made the Shortlista16z Cryptoa16z closed Crypto Fund V at $2.2 billion in May 2026. The firm remains one of the largest crypto-dedicated venture managers, with portfolio companies including Uniswap, Anchorage Digital, Jito, and Kalshi.Bitwise Asset ManagementBitwise manages more than $15 billion in client assets across 30-plus crypto investment products in the US, UK, and Europe. Its BSOL launch in October 2025 helped reshape the spot Solana ETF market.Pantera CapitalPantera was the first US institutional asset manager dedicated to blockchain. Founded in 2003, it now operates across venture, hedge, and tokenized strategies with more than $5 billion in AUM.ParadigmParadigm raised a $1.5 billion fund in February 2026 to expand into AI and frontier technologies alongside its core crypto thesis. Its portfolio includes Coinbase, Uniswap, Optimism, and Flashbots. Leader in Digital Asset Adoption This category recognizes institutions putting digital assets, tokenized instruments, and blockchain settlement infrastructure into live client service at scale.
Shortlisted FirmWhy It Made the ShortlistBlackRockKinexys by J.P. Morgan brought JPM Coin (now JPMD) to public blockchains. The rollout included Base in 2025 and Canton Network in January 2026, expanding institutional access to bank-issued deposit tokens.FidelityFidelity combines spot crypto ETFs, including FBTC and FETH, with in-house custody through Fidelity Digital Assets, NA. This gives the firm one of the most vertically integrated institutional digital asset stacks in the US.HSBCHSBC Orion has enabled more than $3.5 billion in digitally native bonds globally. The bank also received an HKMA stablecoin issuer licence ahead of a planned HKD stablecoin launch in the second half of 2026.JPMorgan ChaseKinexys by J.P. Morgan brought JPM Coin, now JPMD, to public blockchains. The rollout included Base in 2025 and Canton Network in January 2026, expanding institutional access to bank-issued deposit tokens. Best Market Intelligence & Data Platform This category covers platforms that provide the on-chain, market, and index data institutions use to evaluate and monitor digital asset exposure.
Shortlisted FirmWhy It Made the ShortlistCoin MetricsTalos acquired Coin Metrics in July 2025 for more than $100 million, marking Talos’s largest deal to date. The acquisition integrated Coin Metrics’ on-chain, market, and index data with institutional trading and portfolio management infrastructure.Dune AnalyticsDune hosts more than 200,000 dashboards, 6.5 million queries, and 1.5 million datasets across 100-plus blockchains. In 2026, it launched AI Agents and the dbt Connector for institutional data workflows.GlassnodeGlassnode supports institutional on-chain analysis across more than 1,700 assets and 900 metrics. It also publishes quarterly Charting Crypto reports with Coinbase Institutional and launched a Glassnode MCP server in 2026.KaikoKaiko serves more than 200 enterprise clients globally and joined ISDA in April 2026. Its collaboration with S&P Dow Jones Indices also brought the iBoxx US Treasuries Index on-chain as a tokenized benchmark. About the BeInCrypto Institutional 100 The BeInCrypto Institutional 100 is an annual research program covering 25 categories across six pillars: Capital Markets & Infrastructure, Access to Digital Assets, Tokenization & On-Chain Finance, Enterprise Blockchain, Regulation & Governance, and Retail to Crypto Bridge.
The 2026 evaluation window ran from April 2025 through March 2026.
Shortlists were selected through BeInCrypto’s editorial research methodology and blind scoring by an external panel of institutional digital asset practitioners.
Each category follows one of three scoring tracks, depending on the data profile of the market. Public filings, regulatory registers, audited reports, on-chain data, ETF flow trackers, and nominee disclosure forms were used where available.
Final blended scores are not published. Inclusion on the shortlist reflects the combined outcome of research and judge review.
A whale-driven rally has pushed JTO, the native token of Jito, up 14% over the last 24 hours as confidence grew. Yet an ongoing change of hands is underway as retail takes over.
That handover, visible across multiple key data points, shows retail this time betting decisively against further upside, leaving the whales’ effort in vain. The effect points to a major downside move and a sharp price decline.
Retail wrests momentum from whales as netflow flips negative A clear whale-driven move powered JTO’s price and gains, with the asset rallying as the whale-retail delta surged into positive territory, hitting a high of 0.139 in the late hours of the 5th of June.
Retail has since taken over as the delta continues to drop, now reading around negative 0.014 and confirming retail’s rising presence in the market.
Source: CoinGlass The shift hands retail the momentum, and the outcome shows up in netflow. On the 5th of June, the asset logged net buys of 205,000, but by the next day its netflow had swung to roughly $860,000 in net sales.
This selling pressure could read as investors taking profit on their recent gains, closing positions to cash in on the rally.
JTO perpetual market turns against the rally The retail takeover isn’t confined to spot; it has intensified in the JTO perpetual market. At press time, the Funding Rate has turned negative at -0.0689, indicating that traders hold more short contracts open than long.
Speculative bets like these, paired with structural weakness in spot, eventually catch up with price and force a decline as JTO changes hands to sellers.
Source: CoinGlass Notably, CoinGlass puts press-time perpetual volume near $100.45 million, dominated by sellers. Moreover, continued selling volume would weigh heavily on JTO’s gains and force a price decline in the near term.
Capital floods in as bears position for a drop The pressing concern now is the shift in sentiment, with bears moving to capitalize on it.
Open Interest (OI), which measures the capital committed to an asset’s perpetual market, offers the clearest hint. At the time of writing, JTO’s OI has climbed 37% in the last 24 hours to $37.06 million.
Source: CoinGlass An influx of capital while the negative Funding Rate means positioning across the market has grown, most likely from sellers.
The risk of losing on a long bet now outweighs the risk of losing on a short bet by 3.4 to 1, making a bet on a JTO decline the more profitable play as retail signals clear bearish sentiment.
Final Summary JTO rose 14% in 24 hours on whale-driven buying, but retail traders have since taken over and are betting against further upside. Sentiment has flipped bearish, leaving JTO exposed to a possible price decline in the near term.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
16 June 2026 | 04:12 Jito has spent two years as invisible infrastructure — powering 90% of Solana's validator stake while its token traded well below its 2023 highs. That changes with JTX.
Key Takeaways:
JTO spiked 26% in seven days, driven by a Bitget staking event and anticipation around the JTX platform launching in July 2026 JTX will direct 80% of protocol revenue to open-market JTO buybacks — the first direct value mechanism for token holders Annual token emissions of $96M–$128M still outpace projected buybacks of $19M–$30M Jito (JTO), the governance token of one of Solana’s most deeply embedded infrastructure protocols, recorded a sharp price surge between June 15 and 16, 2026 — moving from around $0.55 to an intraday high of $0.79 before settling near $0.71 at publication time. The 24-hour trading volume exceeded $248 million, a multiple of its recent average. The seven-day gain of 18.7% placed JTO among the more notable moves for assets with a market capitalization above $300 million in that period. Three distinct factors are behind the move: a short-term liquidity event on Bitget, a structural change to the token’s economic design, and the announced launch of a consumer-facing product that would represent a significant directional shift for the project.
The Bitget Event: How Staking Lockups Move Prices The immediate trigger for the sharpest part of the spike was a PoolX event on Bitget, which offered a 35,000 JTO reward pool to users who staked BGSOL during a fixed window. The mechanism is straightforward: when a meaningful portion of circulating supply gets locked into a staking contract for a short period, the available float on the secondary market contracts. Any incoming buy pressure — even at relatively modest volumes — then meets thinner order books, which amplifies upward price movement. These events rarely produce durable price levels on their own, but they can accelerate moves that are already being driven by broader fundamental changes. In this case, the staking event coincided with a period of rising market discussion around Jito’s product roadmap, which likely contributed to the scale of the move.
What JTX Actually Is — and Why It Changes Jito’s Economic Position Until now, Jito has operated primarily as invisible infrastructure. Its MEV-optimized validator client processes roughly 90% of Solana’s active stake, and its liquid staking product JitoSOL holds approximately $2.4 billion in assets under management — a figure that has held relatively stable even as JTO’s price fell from historical highs of $6.01 in late 2023 to its current sub-dollar levels.
The protocol captures a significant share of Solana’s Real Economic Value through MEV tips — according to Blockworks’ Solana Financial Income Statement, Jito tips accounted for $10.5 million of the $43.2 million in total REV recorded in the most recent quarter, or roughly 25-30% of the network’s economic output. That share is lower than the 41.6%–66% range cited in the Helius H1 2025 Ecosystem Report, a decline the Solana Foundation attributes to microstructural improvements that reduced the network’s dependence on out-of-protocol tips. Either way, that revenue has historically flowed to stakers and validators rather than to JTO token holders in a direct, measurable way.
JTX introduces a direct revenue mechanism that did not exist before. The platform is being developed as a self-custodial, non-custodial onchain trading application targeting experienced retail traders who currently use centralized exchanges. It will launch with spot trading and add perpetual futures and prediction markets in subsequent phases. The economic design directly connects platform activity to JTO: 80% of all trading fees generated by JTX will fund open-market buybacks of the token. The remaining 20% goes to the DAO treasury, which under governance proposal JIP-24 already receives 100% of Block Engine fees.
The Jito Foundation has also formally relocated its operations back to the United States, citing clearer regulatory frameworks for digital assets, and announced institutional partnerships in the Asia-Pacific region aimed at establishing JitoSOL as a default collateral layer for institutional liquid staking.
JITO PROTOCOL — KEY METRICS (JUNE 2026) Metric Value Validator Client Market Share ~90% of active Solana stake JitoSOL Assets Under Management ~$2.4 Billion Share of Solana Real Economic Value (MEV Tips) 25% –30% Projected Annual Protocol Buyback (JTX revenue) $19M – $30M Annual Token Emissions $96M – $128M Block Engine Fee Distribution (JIP-24) 100% → DAO Treasury The Supply Overhang That the Buybacks Don’t Fully Address The projected $19M–$30M in annual buybacks from JTX revenue needs to be read alongside annual token emissions in the range of $96M–$128M. Jito issues tokens continuously to incentivize validators, stakers, and protocol participants — a standard design for infrastructure protocols, but one that creates persistent net inflation in the token supply. Even at the upper end of buyback projections, the net effect remains dilutive for existing holders. Additionally, vesting schedules for early investors and core contributors continue running through December 2026, generating regular multimillion-dollar unlock events that add secondary market supply.
JTX Against Hyperliquid: A Structural Comparison Jito Labs has positioned JTX as a competitor to Hyperliquid, the dominant decentralized perpetuals platform:
JTX vs. HYPERLIQUID — ARCHITECTURAL COMPARISON Feature Jito JTX Hyperliquid Architecture App-layer on Solana L1 Sovereign L1 Appchain Execution Engine Jito BAM / Block Engine (~200ms) Custom Tendermint consensus Order Book Onchain / hybrid Native decentralized onchain Asset Universe Solana ecosystem focus Broad, cross-chain Revenue Model 80% → JTO buybacks Stays within HYPE ecosystem Maturity Launching July 2026 Established, billions in daily volume Hyperliquid operates on a sovereign Layer-1 blockchain built specifically for high-frequency order book matching. Because it does not share block space with NFT minting, meme coin launches, or other Solana ecosystem activity, it can consistently process tens of thousands of trade messages per second with minimal latency variance. JTX runs on top of Solana’s shared L1, which gives it access to the full Solana liquidity ecosystem and native integration with JitoSOL, but also means execution quality is partially dependent on network conditions at any given moment.
Jito’s BAM (Block-Analytic-Matrix) client has expanded to 28% of native Solana stake and has brought block engine auction intervals down to approximately 200ms — competitive for most retail trading purposes, but a different category than a purpose-built trading chain.
“We’re targeting the pro retail, prosumer trading audience on Solana. We feel there’s a gap there. A lot of the tools people use today are made for an older era on Solana. The assets people are trading are different now than what they used to be.”
He added that the platform is explicitly going after users on centralized exchanges and traders migrating from other chains.
The economic model difference is also significant: Hyperliquid’s revenue primarily compensates validators and stakers securing its own chain, while JTX’s design explicitly directs the majority of fees toward token buybacks.
Technical Picture: RSI Neutral, Price Above 50-Day SMA The daily chart on Coinbase (June 16, 2026) shows JTO at $0.7168, having crossed above the 50-day simple moving average of $0.5044 during the surge. The RSI (14) reading of 66.20 is approaching but not yet in overbought territory. The 100-day and 200-day SMAs remain at $0.4032 and $0.3792 respectively, meaning the current price sits above all three moving averages — an unusual configuration for an asset that spent most of the past six months in a slow decline.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Solana infrastructure platform Jito [JITO] has pumped 40% this week, bringing 2026 recovery gains to over 270%.
As of writing, the token traded at $0.78, just 30% away from the psychological level of $1. If reclaimed, the altcoin will effectively reverse the entire drawdown seen since the October 10 crash.
Can JTO bulls reclaim $1? The altcoin bottomed near $0.2 in February, and the steady recovery to $0.8 meant a 4x run in the past four months. Still, analysts were bullish and expected more potential upside.
According to analyst Ansem, the upcoming Hyperliquid-like JTX Trade will boost the JTO token, calling current levels a buy zone. For him, JTO could front another 3x pump from the current levels.
I think $JTO is a good spot to buy & hold here, extremely beaten down after 10/10 and general underperformance of SOL alts combined with JTX Trade launch soon directing 80% of all fees to $JTO buys, while they already run a lot of Solana’s core infra.
A 3x run would imply a $1.68 target. Well, the Fibonacci retracement tool (orange) marked out levels similar to Ansem.
When measured from the H2 2025 peak and the 2026 low, the $1.68 coincided with the golden zone (50%-61.8% Fib level). Notably, this would be the second upside target. But first, bulls must reclaim $1 as support before eyeing the golden zone.
Source: JTO/USDT, TradingView When zoomed down to the daily chart, JTO bulls have been using the rising trendline support as a buying zone. If the support holds, any pullbacks could attract new demand at the level to eye $1 and above.
Source: JTO/USDT, TradingView A sustained drop below the support level would invalidate the bullish outlook. In such a scenario, JTO could slip to the 200-day Moving Average (MA).
JTO: The JTX Trade factor That said, Jito Labs has been focused on infrastructures like the Jito-Solana validator client and Jito block engine. However, apps on top of these infrastructures have been capturing more revenue and could explain its planned JTX Trade.
Think of JTX Trade as a unified trading platform like Hyperliquid, complete with perps and prediction market offerings.
With 80% of JTX Trade fees set for JTX buybacks, the token’s latest run was partly influenced by the platform’s upcoming July spot trading launch.
In fact, analyst Nick Ford predicted that,
Fee generation of $10 million feels safe based on the market penetration Jito can likely acquire. This results in $8 million+ in buying pressure. Estimating a 2-5% buyback of $JTO itself within 1-yr.
Whether the rally will continue after the July debut or if it turns out to be a ‘sell-the-news’ event remains to be seen.
Final Summary JTO pumped 40% this week, marking a 4x run from February’s low of $0.2. Analysts projected another 3x was a feasible pump ahead of the Hyperliquid-like JTX Trade debut in July.
Alchemy Pay, a top payment gateway for converting regular money into cryptocurrency, has teamed up with Fusionist. It is a leader in blockchain gaming. It will make it easier for people to buy and use Fusionist’s native token, $ACE. Alchemy Pay and Fusionist will benefit from this partnership by making $ACE tokens easier to buy worldwide. Alchemy Pay’s platform now accepts preferred payment methods and local fiat currencies. This makes the service more accessible and easier to use for cryptocurrency fans.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) March 19, 2024 Fusionist Leverages Alchemy Pay Partnership to Enhance $ACE Token Visibility This partnership boosts Alchemy Pay’s cryptocurrency payment ecosystem dominance. Alchemy Pay adds more tokens and simplifies fiat-to-crypto conversions to promote cryptocurrency use and make the growing digital asset market easy to use. Alchemy Pay Fiat On-Ramp adding $ACE tokens shows its commitment to adapting to users’ needs and helping the cryptocurrency community.
Fusionist benefits from Alchemy Pay’s integration with $ACE, making it more visible and usable. Fusionist wants to revolutionize gaming with decentralized finance. Through a blockchain-powered gaming platform. Fusionist uses the $ACE token as its main currency, encouraging users to participate in many gaming projects. For more people to buy and use $ACE tokens, Fusionist can integrate them onto the Alchemy Pay Fiat On-Ramp and use its large network and user base.
Fusionist’s Endurance website has a “Buy ACE” section that lets community members buy $ACE tokens directly through Alchemy Pay’s ramp support. This integration makes it easier for Fusionist’s community to get $ACE tokens without third parties, improving their experience. Fusionist wants to increase user engagement by making tokens easier to get. This boosts ecosystem growth and adoption.
Alchemy Pay and Fusionist Partner for Industry Transformation Fusionist and Alchemy Pay are doing more than adding tokens. They want to boost worldwide blockchain gaming growth and innovation. Fusionist’s innovative blend of gaming and decentralized finance fits Alchemy Pay’s mission to make cryptocurrency more accessible and inclusive. The two groups want to break down the barriers between gaming and finance and create decentralized gaming experiences.
Ultimately, Alchemy Pay and Fusionist’s partnership could boost the gaming industry adoption of cryptocurrency. The partnership wants to open and decentralize the gaming ecosystem by making games more accessible, and liquid, and encouraging new ideas. These partnerships are crucial to popularizing the digital asset market and expanding blockchain gaming as the market evolves.
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.
Fusionist (ACE) is a project that combines the advanced Web3 AAA game Fusionist with the decentralized game/social infrastructure layer Endurance. Endurance has been operating on its mainnet since January 2023, achieving significant growth with over 1.86 million token holder wallets and more than 100 million transactions. The ACE token is used for various purposes such as in-game spending, ecosystem participation, staking, and governance, and serves as gas for all transactions on the Endurance Blockchain. In this article, you can find answers to two frequently asked questions: What is Fusionist (ACE) and how to buy Fusionist (ACE) with TRY.
What is Fusionist (ACE)?Fusionist is a Web3 AAA game and decentralized game/social infrastructure layer that combines an advanced blockchain game with a robust social platform. The project includes Fusionist, a high-quality game built by experienced gaming professionals using Unity and HDRP technologies to offer players an immersive and engaging experience. In addition to Fusionist, the project also includes Endurance, a decentralized gaming and social blockchain that has been live on the mainnet since January 2023.
Fusionist offers a top-tier gaming experience designed by industry veterans to captivate and entertain users. The game leverages the latest technology to provide high-quality graphics and gameplay that appeal to both casual and hardcore gamers. The team behind Fusionist is dedicated to creating a diverse and rich gaming environment where players can fully immerse themselves in the virtual world.
The decentralized gaming and social platform Endurance enhances the Fusionist experience by providing a comprehensive infrastructure layer. This layer includes various gaming and social features such as Expedition, Auction House, ACEdomain, and Beta testing. Since its launch, Endurance has achieved significant growth by bringing together over 1.86 million token holder wallets and surpassing 100 million transactions. This robust infrastructure allows users to find their preferred ways of gaming, socializing, and earning within the ecosystem.
ACE token is the mainnet asset of the Endurance Blockchain and serves multiple purposes within the ecosystem. ACE can be used to purchase items, tournament tickets, and earn rewards within the game. The use of ACE is not limited to Fusionist, as it also encompasses new games developed by the Fusionist team and its partners. This broad application ensures that ACE remains a valuable asset for all participants in the ecosystem.
Beyond in-game usage, the ACE token is an integral part of the broader Endurance ecosystem. Users can purchase goods and services across the platform, including social products and domain names. This extensive utility increases user engagement and fosters a vibrant, interconnected community. ACE tokens also play a crucial role in staking and governance, allowing holders to stake their tokens to secure the network and participate in governance decisions, thereby influencing the platform’s future direction.
Finally, the ACE token is used as gas for all transactions on the Endurance Blockchain. This fundamental function ensures the smooth and efficient operation of the blockchain, facilitating millions of transactions and supporting the ecosystem’s growth. As Endurance continues to expand, the role of ACE as a transaction medium is expected to become increasingly vital, forming the foundation of the entire infrastructure.
How to Buy Fusionist (ACE) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Fusionist (ACE). On Binance TR, where you can quickly create an account, you can trade over 100 cryptocurrencies, including ACE. To buy Fusionist (ACE) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identification number.
After entering the requested information completely and accurately, an email/SMS verification will be conducted to confirm and verify the information. After completing this process, you will proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that need to be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website as well.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” In the next step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue with the verification process, first, select the document type that is suitable for you.
After selecting the document type, you can continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver’s license, make sure the images are clear and the information in the photo is easily readable.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps accurately and correctly, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account through all banks. You can deposit TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts and perform transactions without interruption. For other banks, you can deposit up to 50,000 TL 24/7 via FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy ACE Coin with TL on Binance TR?After the deposit process, you can proceed to the step of buying ACE coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. By typing “ACE” in the search section on the right side of this page, you can go to the ACE/TRY option and go to the page for buying ACE with TL.
Now the following ACE trading page will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy ACE in the first box and the number of ACE you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy ACE” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance TR with Binance’s core functions gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
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.
Fusionist (ACE) is the fusion of the Blockchain-based game Fusionist with the game/social infrastructure layer Endurance. The value proposition of Endurance and Fusionist is to combine the latest Blockchain technology with a high-quality gaming experience, as seen in Fusionist’s use of the Unity engine and HDRP technology. In this article, you’ll find answers to many questions such as what Fusionist is, what ACE coin is, and how to acquire ACE coin, which will soon be listed on the major cryptocurrency exchange Binance.
Fusionist is a combination of a Blockchain game (Fusionist) and a game/social infrastructure layer (Endurance). Fusionist is a Web3 AAA game built by a group with experience in the gaming industry. It uses Unity and HDRP technologies to provide all users with a first-class product and engaging gaming experience.
Endurance, on the other hand, is a decentralized game/social Blockchain that has been on the mainnet since January 2023. The infrastructure layer offers users various gaming and social options (Expedition, Auction House, ACEdomain, Beta testing, etc.), allowing all participants to easily find their own ways to play, socialize, and earn. The Endurance Blockchain provides a multi-layered architecture to ensure scalability and facilitate the reuse of existing modules. This architectural infrastructure consists of client interface execution engines, network protocols, and storage. Additionally, this architecture enables the easy and efficient modification of existing smart contracts.
Since the launch of Endurance in January 2023, it has reached wallet addresses holding over 1.86 million tokens, and the number of transactions on the network has exceeded 100 million, making a significant breakthrough.
ACE Coin OverviewACE is the native asset of the Endurance Blockchain and has many uses, including in-game spending/earning, ecosystem participation, staking and governance, and transaction fees. Let’s take a closer look at these uses:
In-Game Spending/Earning: It is used to purchase in-game items, tournament tickets, winner rewards, and more. The rewards for the game are not limited to the flagship Fusionist game but are also available in other games built by the Fusionist Team and its partners.Ecosystem Participation: It is used by users to purchase products and services throughout the Endurance ecosystem (social products, domain, etc.).Staking and Governance: ACE coin holders can stake their coins to secure the network and also vote on decisions regarding network governance.Transaction Fees: ACE coin is used as a transaction fee for all transactions performed on the Endurance Blockchain.As of December 16, 2023, the total supply of ACE is limited to 147 million units.
How to Acquire ACE Coin?ACE coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. ACE coin will be listed on Binance on December 18, 2023, and will be traded in the ACE/USDT, ACE/FDUSD, and ACE/TRY trading pairs.
To purchase ACE (if you don’t have one), you first need to register on the Binance exchange. After completing the registration process, you should transfer cryptocurrency or fiat money like Turkish lira to your account wallet on Binance. Once the transfer is complete, you can buy ACE coins in any of the three pairs mentioned above.
Binance‘s ACE/USDT trading pair to buy, you should first navigate to the interface of this trading pair. From the limit tab on the trading pair interface, enter the amount you want to purchase in the specified field. After entering the amount, the purchase is completed with the Buy ACE 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.
Binance, a leading crypto exchange, has informed the delisting of spot trading pairs for several tokens, sparking speculations. The tokens are Fusionist (ACE), AC Milan Fan Token (ACM), Book of Meme (BOME), Dymension (DYM), Metal DAO (MTL), Pixels (PIXEL), QuarkChain (QKC), Radworks (RAD), and Renzo (REZ). Among these, QuarkChain (QKC) saw the steepest decline, dropping 12%. This move reflects Binance’s commitment to ensuring market quality, sparking varied reactions across the market.
Binance Announces Delisting Of BOME, ACE, & Others Binance announced on December 24 that it would remove 11 trading pairs. The affected trading pairs include ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD, and TUSD/TRY.
The exchange said that the base and quote assets of these tokens will still be available for trading through other spot pairs. Additionally, the top crypto exchange said that it would terminate its Spot Trading Bots for these pairs on the same date.
Meanwhile, the delisting will take effect at 03:00 (UTC) on December 27. Users should cancel or update their Spot Trading Bots to avoid potential losses. The exchange reiterated that delisting specific trading pairs does not affect the availability of the underlying tokens on its platform.
Will The Crypto Prices Dip Ahead? The Binance delisting announcement has sparked varied market reactions across the 10 affected tokens. Fusionist (ACE) price saw a modest 4% increase, trading at $2.157, with a 24-hour low of $2.015 and a high of $2.218. Similarly, AC Milan Fan Token (ACM) price climbed 4% to $1.634, with lows and highs of $1.566 and $1.645, respectively.
Book of Meme (BOME) price gained approximately 5%, trading at $0.0065, supported by a $450M market cap. Dymension (DYM) price experienced a 6% rise, trading at $1.50, with its 24-hour low and high recorded at $1.40 and $1.542. Metal DAO (MTL) price mirrored the positive trend, climbing 6% to $1.20, driven by a $94M market cap.
Pixels (PIXEL) price saw a 4.6% uptick, reaching $0.16. However, not all tokens benefited, as QuarkChain (QKC) price suffered a steep 12% decline, trading at $0.0112. Minor gains were recorded for Radworks (RAD) at $1.256 and Renzo (REZ) at $0.036, each with a modest 2% increase.
Historically, Binance delistings have had severe impacts on token performance. For instance, Heroes of Mavia (MAVIA) price fell by 28%, OMG Network (OMG) price dropped by 15%, and BarnBridge (BOND) price plummeted by 80% within a month of being delisted. These cases demonstrate how delistings often lead to panic selling, reduced liquidity, and long-term price declines, causing significant concerns for investors in affected tokens.
Fusionist (ACE) is a combination of the blockchain-based game Fusionist and the game/social infrastructure layer Endurance. The value proposition of Fusionist and Endurance lies in bringing together Fusionist’s Unity engine and HDRP technology with cutting-edge blockchain technology to deliver a high-quality gaming experience. This article explores what Fusionist is, what ACE coin represents, and how to acquire ACE coin, which will be listed on Binance.
What is Fusionist?Fusionist is a Web3 AAA game developed by an experienced team in the gaming industry. It aims to provide a premium product and an engaging gaming experience to all users by leveraging Unity and HDRP technologies. Its integration with Endurance supports Fusionist’s game/social infrastructure, offering users various gaming and social options.
Endurance, operating on its mainnet since January 2023, is a decentralized game/social blockchain. Its infrastructure layer provides users with diverse gaming and social options and ensures scalability with its multi-layered architecture. Endurance houses the native asset ACE coin, which has various use cases within the ecosystem.
The primary use cases of ACE coin are as follows:
In-Game Spending/Earnings: Used in Fusionist and other games to purchase items, tournament tickets, and rewards.Participation in the Ecosystem: ACE coin can be used to buy products and services within the Endurance ecosystem (social products, domain services, etc.).Staking and Governance: ACE coin holders can stake their coins to secure the network and participate in governance decisions.Transaction Fees: ACE coin serves as the transaction fee for all operations on the Endurance blockchain.The total supply of ACE coin is 147 million as of December 16, 2023.
ACE coin will be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. ACE coin will be listed on Binance on December 18, 2023, and can be traded in the pairs ACE/USDT, ACE/FDUSD, and ACE/TRY.
To buy ACE coin, you must first register on Binance (if not already a member). After completing the registration process, fiat currency like USD or cryptocurrency must be transferred to your Binance wallet. Once the transfer is complete, ACE coin can be purchased in any of the three trading pairs mentioned above.
To buy from the ACE/USDT trading pair, first navigate to the interface of this trading pair. On the trading interface, enter the desired amount to purchase in the limit section. After entering the amount, complete the purchase by placing a Buy ACE 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.
Two South Korean men have been implicated in a case of price manipulation on the crypto exchange Bithumb. The two men allegedly gained nearly $5 million from manipulating the price of the Fusionist token, ACE.
According to a Jan. 3 report on local news media Digital Asset, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Joint Investigation Team arrested 33-year-old CEO of virtual asset operator M, Lee, alongside a former employee of M, Kang, for alleged market manipulation on Bithumb.
The pair were charged with price manipulation and violating the South Korean Virtual Asset User Protection Act.
Based on the police investigation conducted by Chief Park Geon-wook, the pair manipulated the price of blockchain-based gaming project Fusionist’s native token, ACE. In South Korea, Bithumb is the only crypto exchange known to list ACE for market trading.
This is the first case that the South Korean Financial Services Commission immediately categorized as a top priority, placing it on the “Fast Track” for processing since Oct. 25, 2024, for alleged violations of the Virtual Asset User Protection Act.
According to the press release, Lee and Kang allegedly sold around 1.22 million ACE tokens and made a profit amounting to 7.1 billion won ($4.8 million) by submitting fake buy and sell orders to inflate the ACE price.
On July 22, 2024, the prosecutor’s office noted that Fusionist token’s trading volume increased by nearly 15 times in a single day to about 2.45 million. This kind of suspicious trading activity tipped off authorities to the scheme happening behind the scenes.
Price chart for the Fusionist token’s performance in the past year of 2024 | Source: CoinGecko At the time of writing, ACE has dipped slightly by 0.3% in the past 24 hours, according to CoinGecko. In the past week, the token has gone up by 1.1%. However, over the past year, the Fusionist token has fallen by nearly 75%. ACE has a market cap of around $92 million and a fully diluted valuation of $319 million.
Globally, ACE’s trading volume stands at $7.8 million in the past 24 hours. Its trading volume went down by 15% from the previous day, signaling a decrease in market activity.
ACE was first listed on Bithumb in August 2024 at a starting price of around 3,722 won ($2.53).
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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April 3, 2025
In what has become one of the most significant cases in South Korea’s crypto market, the Seoul Southern District Prosecutors’ Office has exposed an elaborate price manipulation scheme involving the Fusionist (ACE) token, which is down 13% in the past 24 hours.
Source: CoinGeckoAccording to a local source, Lee and Kang, who allegedly orchestrated artificial price inflation on the Bithumb exchange, accumulated illicit profits amounting to 7.1 billion won ($4.8 million).
The case, categorized as a top priority under the newly enacted Virtual Asset User Protection Act, was placed on an expedited “Fast Track” for prosecution in October 2024.
The investigation revealed that the duo engaged in sophisticated methods to deceive investors and inflate trading volumes, effectively distorting market realities to their advantage.
On April 3rd, at the third trial hearing at the 14th Criminal Division of the Seoul Southern District Court, prosecutors detailed the methods employed by the accused, shedding light on two primary tactics called “’hit’ order strategy and fake buy orders.”
These manipulative trading practices not only misled investors but also artificially bolstered ACE’s market performance, triggering widespread trading activity based on fraudulent signals.
Price Manipulation Tactics: “Hit” Orders and Fake Buy OrdersOne of the key methods employed by Lee and Kang was the implementation of ‘hit’ orders.
This involved submitting limit buy orders at a price higher than the current market rate while simultaneously placing limit sell orders below market value.
This technique ensured that trades were executed unconditionally, effectively inflating the trading volume.
Prosecutors likened this to a form of “bicycle trading,” where an illusion of heightened market activity is created to lure in unsuspecting investors.
By avoiding direct self-trading, an act punishable under the Virtual Asset User Protection Act, the perpetrators circumvented legal consequences while achieving the same effect, which is manipulating market sentiment and artificially increasing trading activity.
The impact of this tactic was evident on July 22, 2024, when ACE’s trading volume on Bithumb skyrocketed nearly 15-fold in just one day, from an average of 160,000 to approximately 24.05 million.
Notably, at the time of writing, the Fusionist token is down 94.2% in the last year and 33.8% in the previous month.
Source: CoinGeckoAlarmingly, an estimated 88.69% of these transactions were identified as manipulated.
In addition to ‘hit’ orders, the accused employed a strategy involving fake buy orders.
This method involved placing multiple low-price purchase orders at predefined intervals 3%, 5%, 7%, 9%, and 11% below the most recent transaction price.
These orders were then systematically canceled within seconds before they could be executed, creating a misleading impression of strong buy-side interest.
By repeating this cycle over an extended period, the manipulators effectively induced a false sense of demand, enticing real investors into entering the market.
The prosecution’s findings revealed that between July 28, 2024, and August 5, 2024, these false buy orders escalated, with cancellation rates nearing 100%.
More strikingly, 80-90% of all purchase orders on Bithumb during this period were linked to these deceptive tactics.
The Broader Implications for the South Korean Crypto MarketThis case represents the first time the Virtual Asset User Protection Act has been enforced through the “Fast Track” prosecution process.
This case has also coincided with broader regulatory shifts in South Korea’s crypto sector.
The country’s Financial Services Commission (FSC) has recently indicated a potential policy change that could allow foreign investors to access domestic exchanges under stringent anti-money laundering (AML) requirements.
This proposed shift responds to global competitive pressures and a desire to curb market anomalies like this current case.
Looking forward, with the prosecution making a strong case against Lee and Kang, the outcome of this trial could set a precedent for future cryptocurrency fraud cases in the country.
Robinhood has launched crypto transfer services in Europe, enabling customers to move cryptocurrencies in and out of its app. This move highlights the American financial services company’s dedication to expanding its product offerings and strengthening its global presence in the crypto market.
Speculation arose that the retail investing platform is exploring the stablecoin market, but Robinhood has firmly denied this claim.
Robinhood Enables Crypto Transfers in EuropeCustomers in the European Union can now deposit and withdraw over 20 digital currencies, including BTC, ETH, SOL, and USDC, via Robinhood’s platform. They can also self-custody assets instead of storing their holdings with third parties.
With the launch of the service, European customers can receive 1% of the value of tokens deposited on the platform back in the form of the equivalent cryptocurrency they transfer into Robinhood, a limited-time marketing strategy.
This development comes barely a year after Robinhood Crypto forayed into the EU market. The venture allowed customers to buy and sell cryptocurrencies. However, they could not move them away from the platform to another third party or their own self-custodial wallet. The latest development changes that.
Read more: How to Buy and Sell Crypto on Robinhood: A Step-by-Step Guide
Robinhood’s move to bring crypto transfers to Europe acknowledges the region’s potential to become an attractive market for digital currencies. Its general manager and vice president, Johann Kerbrat, cited crypto-friendly regulations adopted in Europe’s 27-member bloc. In his opinion, things could be better once Markets in Crypto-Assets (MiCA) are in full effect.
This regulatory clarity has allowed companies like Circle to obtain an Electronic Money Institution (EMI) license, enabling them to offer dollar- and euro-pegged crypto tokens under the MiCA framework.
Amid this environment, there was speculation that Robinhood was exploring stablecoin launches alongside Revolut, but the retail investing platform has denied these claims. The firm put out the speculation, citing no “immediate plans” to launch its own stablecoin.”
“On our side, we don’t have any imminent plan. It’s always kind of funny in my position to see where people think we’re going to move next,” Kerbrat said in an interview with a news site.
Rumors notwithstanding, Tether’s USDT dominance in the stablecoin market could face significant competition as sector regulation improves in the EU. As BeInCrypto reported in July, Circle’s USDC stablecoin leads regulated stablecoins with a $23 billion volume, effectively challenging reserve-backed stablecoin First Digital USD’s (FDUSD) 14% market share.
USDC’s main market rival in the stablecoin market, Tether’s USDT, is not EMI-licensed. Its CEO, Paolo Ardoino, is still unconvinced by MiCA’s expectation of 60% backing in bank cash.
Also read: What Is Markets in Crypto-Assets (MiCA)? Everything You Need To Know
These developments highlight the potential of the MiCA framework to shift the balance in favor of compliant stablecoins.
The SUI ecosystem continues to capture investor attention this October, setting multiple notable new records.
While the recovery momentum of many altcoins has stalled, SUI has achieved a new all-time high (ATH) this month, reaching $2.16.
SUI Ecosystem Market Cap Exceeds $8 BillionAccording to CoinMarketCap, the SUI ecosystem’s market cap in October reached $8.54 billion. Of that, SUI’s individual market cap is around $5.38 billion, while First Digital USD (FDUSD) accounts for almost $3 billion. The daily trading volume across the ecosystem surpassed $6 billion, with most of it still dominated by SUI and FDUSD.
Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024
SUI Ecosystem Market Cap and Volume. Source: CoinMarketCap.Other projects within the SUI ecosystem, such as decentralized exchanges (DEXs), meme coins, and lending protocols, hold a smaller share. According to CoinGecko, the market capitalization of meme coins on SUI currently exceeds $296 million, marking a 170% increase from $108 million at the beginning of October.
Typically, investors who buy and hold SUI tend to reinvest in other protocols and meme coins within the ecosystem. This is similar to how the Solana ecosystem surged in popularity last year.
SUI Ranks Among Top 3 Altcoins by Netflow in the Past MonthMore data indicates promising signals for SUI’s continued appeal to investors in the final quarter of the year. Artemis data, which tracks capital flows into and out of various ecosystems, shows that SUI ranks third in altcoin netflow over the past month, behind only Ethereum and Solana.
Netflow by Chain. Source: Artemis.Looking at cross-ecosystem bridge transactions, SUI accounts for over 9% of the capital flow from Ethereum. These figures highlight the growing activity within the SUI network, reflecting the ongoing adoption and demand among users.
SUI Dominance Rises 270%, Reaches New High of 0.27%SUI dominance (SUI.D), which measures SUI’s share of the total market cap, has seen a significant rise. A higher dominance indicates that SUI is becoming a preferred choice among investors.
Read more: Everything You Need to Know About the Sui Blockchain
SUI Dominance. Source: TradingView.In just the past two months, SUI.D has surged 270%, hitting a new high of 0.27%. Although it has now retraced to 0.26%. This comes at a time when most other altcoins are seeing declines in market cap share while Bitcoin dominance remains high at over 56%.
“SUI is moving exactly like SOL before the massive pump,” Investor CryptoGoos predicted.
Through technical analysis, many investors are optimistic that SUI’s price could follow a similar pattern to that of SOL. However, a recent BeInCrypto analysis indicates that SUI may face significant corrections under the pressure of profit-taking from early investors.
This is because the price has increased by nearly 120% in the past 30 days. In such a scenario, investors are bound to book some profit.
Hong Kong-based stablecoin issuer First Digital Trust said Thursday it is expanding its FDUSD token to the Solana network.
First Digital USD (FDUSD), the fourth largest stablecoin by market capitalization issued by Hong Kong-based firm First Digital Trust, is coming to Solana as it seeks new ecosystems after rolling out products on Ethereum and BNB Chain (formerly Binance Smart Chain).
In an Oct. 30 announcement on X, the team behind the stablecoin said the selection was due to Solana’s transactional output, calling it an “ideal solution for real-time payments and settlements.”
The team added that FDUSD’s upcoming integration with Solana is a “part of our broader strategy to build a versatile, resilient stablecoin ecosystem.” However, the stablecoin issuer didn’t explain when exactly it plans to launch FDUSD on Solana.
“With support on Ethereum, BNB Chain, Sui, and soon Solana, FDUSD is more globally accessible and liquid than ever.”
First Digital Trust
FDUSD quickly expands across blockchain networks Unveiled in 2023, FDUSD is issued under Hong Kong’s digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price anchored to $1. In addition to Ethereum and BNB Chain, FDUSD is also available on Sui Network.
Shortly following its launch, Binance opened trading in Bitcoin (BTC) and Ethereum (ETH) with FDUSD, wooing traders with zero fees. As a result, the stablecoin quickly became the fourth-largest stablecoin behind Tether’s (USDT), Circle’s (USDC) and MakerDAO’s (DAI), amassing more than $2.5 billion market capitalization, as of press time
Key NotesThe FDUSD has grown to a multi-chain stablecoin available of Ethereum, BSC chain, Sui, and now Solana.The Solana network will heavily benefit from enhanced liquidity amid the mainstream adoption of its digital assets and Web3 protocols. First Digital USD (FDUSD), a fast-growing multi-chain stablecoin backed by the US dollar in a ratio of 1:1, has finally launched on Solana network, a top-tier layer one blockchain fueling the mainstream adoption of digital assets and Web3 platforms.
Already, top-tier DeFi protocols on the Solana network have integrated FDUSD to allow their users to seamlessly trade. Some of the top DeFi projects that had already listed FDUSD for trading at the time of this writing include Raydium protocol, Kamino Finance, Meteora, and Phantom Wallet.
According to the First Digital Labs team, the launching of FDUSD on the Solana network was mainly based on several facts. On the top list, the Solana network has grown to a vibrant Web3 ecosystem, with more than $9 billion in total value locked and around $6 billion in stablecoins market cap.
The FDUSD stablecoin will help enrich the Solana protocols with reliable digital US dollars, especially amid heightened crypto volatility. Moreover, the Solana network is home to a fast-growing memecoin ecosystem, catalyzed by the democratization of token creation by pump.fun launchpad.
According to the announcement, FDUSD on the Solana network will be listed on major cryptocurrency exchanges in the near term.
“Soon, FDUSD on Solana will be available for deposits and withdrawals on major centralized exchanges. Users can expect seamless transfers and speedier transactions with lower fees,” the announcement noted.
Market Impact of the FDUSD Launch on Solana Network The launch of FDUSD on the Solana network will significantly add to its rising demand in the Web3 industry. As of this writing, FDUSD had a 24-hour average traded volume of about $6.69 billion and a total market of about $1.8 billion.
The higher daily average trading volume than the market cap suggests a significant demand for the FDUSD Stablecoin in the Web3 space.
Meanwhile, the launch of FDUSD on the Solana network will play a crucial role in the mainstream adoption of SOL and its related DeFi projects. Moreover, SOL coins are used to pay for transaction fees across all its DeFi protocols led by DEXes.
Amid the ongoing mainstream adoption of digital assets and Web3 protocols on the Solana network, the SOL price rallied more than 8 percent in the past 24 hours to trade at about $203 at the time of this writing. The large-cap altcoin, with a fully diluted valuation of about $120 billion and a 24-hour average trading volume of around $4.4 billion, is on the verge of a major bull run after completing a two-month correction.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
First Digital USD (FDUSD), a multi-blockchain audited stablecoin pegged to the U.S. dollar, enhances its availability on Binance (BNB), the largest crypto exchange by trading volume and user count. Traders are invited to deposit and withdraw FDUSD paying no fees.
Solana's FDUSD listed by Binance with zero-fee promoBinance (BNB), a dominant centralized crypto exchange, shared details of its latest stablecoin listing so far. Solana-based version of First Digital USD (FDUSD), a Hong Kong-regulated USD-pegged stable cryptocurrency, is now available for all Binancians.
Binance (BNB) stressed that the process of SOL-based FDUSD is fully completed: Users can freely deposit and withdraw the stablecoin via the Solana (SOL) blockchain and utilize it in Binance's (BNB) products.
To introduce the novel stablecoin to the Binance (BNB) audience, the platform is running a zero-fee promo campaign for FDUSD. Until April 16, 2025, 11:59 p.m. UTC, all deposit and withdrawal operations are charged with zero platform fees.
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As Binance (BNB) targets regulatory compliance, it recalled that users in EEA are not eligible for the promotion and usage of stablecoins unauthorized under the new MiCA regulatory framework for digital assets.
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As covered by U.Today previously, Binance (BNB) already expanded its stablecoin offering this year. On Jan. 10, spot trading in PHA/USDC, PLN/USDC, STEEM/USDC and USUAL/USDC pairs kicked off.
Tether unveils USDT cross-chain alternative: DetailsDespite increasing regulatory hostility, the competition in the stablecoin segment has gained steam in recent months. Tether, the issuer of the largest-ever stablecoin USDT, announced this week its new development called USDT0, a cross-chain stablecoin issued on Kraken's L2 Ink.
Introducing USDT0.@Tether_to has completely reshaped global economies and in just over a decade has become the single largest stable asset in the world at almost $140B. It fulfilled crypto’s original promise of banking the unbanked and providing critical financial… pic.twitter.com/36oZJd6F3Q
— USDT0 (@USDT0_to) January 16, 2025 USDT0 is set to merge the benefits of LayerZero's Omnichain Fungible Token standard and OP Stack, Optimism's development framework. Simply put, USDT0 streamlines operations with crypto liquidity on multiple blockchains.
Also, Ripple, a U.S. fintech giant, launched its hotly-anticipated stablecoin Ripple USD (RLUSD) on XRP Ledger and Ethereum (ETH) Dec. 17, 2024.
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As of press time, RLUSD capitalization exceeds $74 million in equivalent.
Bank of America (BofA), the second largest bank in the United States, has hinted at plans to roll out its USD-backed stablecoin.
Brian Moynihan, the CEO of BofA, made the disclosure in an interview with David Rubenstein at the Economic Club of Washington D.C. During the interview, Moynihan emphasized that the stablecoin business is imminent and poised to go mainstream soon.
He referred to stablecoins as digital assets backed by fiat currencies, like the U.S. dollar. Notably, Moynihan suggested that these digital assets can function like a money market fund or bank account.
With Moynihan expecting stablecoins to go mainstream, he revealed that the second-largest U.S. bank may introduce a stablecoin, referred to as the BofA token, tied to U.S. dollar deposit accounts. However, he noted that the bank would only launch the digital asset if the U.S. government legalized stablecoins.
Ongoing Efforts to Regulate USD Stablecoins It bears mentioning that the United States government is pushing to pass stablecoin legislation. Last year, Rep. French Hill (R-AR) disclosed that the United States Congress will prioritize crypto legislation, including those relating to stablecoins, in 2025.
Due to its aggressive stance toward crypto, the previous administration sabotaged efforts to pass stablecoin regulation. However, crypto enthusiasts are optimistic that the U.S. will soon welcome favorable legislation for stablecoins.
This speculation is driven by Donald Trump’s executive order for the digital asset markets. The order mandates a presidential committee to establish crypto regulation at the federal level.
Specifically, the order pushes for the sovereignty of the U.S. dollars by promoting the growth and development of dollar-backed stablecoins globally.
BofA Faces Stiff Competition From Established Stablecoin Issuers Should the government establish the necessary regulation, BofA may launch its own dollar-backed stablecoin. However, the bank faces stern competition from established brands like Tether (USDT) and USD Coin (USDC).
Currently, stablecoins USDT and USDC have valuations of $142.02 billion and $56.25 billion, respectively. They account for 86.55% of the $229.06 billion global stablecoin market valuation.
Other dominant USD-backed stablecoins include Ethena USDe (USDe), Dai (DAI), First Digital USD (FDUSD), and PayPal USD (PYUSD). These stablecoins are worth $5.87 billion, $5.36 billion, $2.13 billion, and $703.38 million, respectively.
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.
Binance moves to restrict non-MiCA compliant stablecoins for EEA users, reveals delisting timeline and conversion options ahead of March deadline.
Cryptocurrency exchange Binance will remove non-MiCA compliant stablecoins like Tether (USDT), First Digital USD (FDUSD), and DAI (DAI) from spot trading in the European Economic Area starting March 31, urging users to switch to MiCA-compliant ones like Circle’s USD Coin (USDC), Eurite (EURI) or fiat like EUR.
In a March 3 press release, Binance said that for now, non-MiCA compliant stablecoins can still be traded in spot pairs until the deadline. However, after March 31, these pairs will be fully delisted.
“Custody of non-MiCA Compliant Stablecoins will continue and you will be able to withdraw or deposit non-MiCA Compliant Stablecoins at any time.”
Binance
The update will also impact margin trading. From March 27, non-compliant margin trading pairs will be removed, and Binance will automatically convert any remaining assets to USDC. Binance urged users to convert their margin assets before the deadline to avoid liquidation risks.
To help users switch to MiCA-compliant stablecoins, Binance will offer zero-fee trading on some pairs and rewards for trading USDC or EURI. The exchange also recommends updating Binance Earn and Loan holdings to compliant stablecoins.
The update is part of Binance’s efforts to comply with Europe’s MiCA framework, which aims to establish clear regulatory guidelines for cryptocurrency markets. In July 2024, analysts at blockchain research firm Kaiko suggested that Europe’s Markets in Crypto-Assets Regulation prompted a rush among issuers to comply, benefiting Circle at the expense of its rivals.
Tether chief executive Paolo Ardoino criticized MiCA, arguing that its requirement for stablecoin issuers to hold at least 60% of reserves in E.U. bank accounts poses financial risks, as deposits exceeding €100,000 are not insured.
A stablecoin called First Digital USD (FDUSD) lost its dollar peg on Wednesday after Tron founder Justin Sun claimed that its issuer, First Digital Trust, is effectively insolvent.
The Hong Kong-based firm is currently “unable to fulfill client fund redemptions," Sun warned in a post on X, formerly known as Twitter, urging “regulators and law enforcement to take swift action to address these issues and prevent further major losses.”
First Digital Trust denied the allegation, saying on X that its stablecoin worth $2.5 billion is backed one-to-one with U.S. Treasuries. The firm described Sun’s rhetoric as part of a “smear campaign,” adding that it will pursue legal action to protect its rights and reputation.
The recent allegations by Justin Sun against First Digital Trust are completely false.
This dispute is with TUSD and not with $FDUSD. First Digital is completely solvent.
Every dollar backing $FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The…
— First Digital (@FirstDigitalHQ) April 2, 2025
FDUSD—which is prominently used by top crypto exchange Binance after it dropped support for BUSD in 2023—plunged as low as $0.95 and was recently changing hands around $0.96, according to the crypto data provider CoinGecko. It had recovered to $0.97 before Sun doubled down.
Sun said on X that First Digital Trust’s insolvency is a “factual statement,” urging the company’s business partners to sever ties “as soon as possible to protect your assets.”
The crypto billionaire recently helped a firm called Techteryx avoid insolvency, CoinDesk reported on Wednesday, citing Hong Kong court documents.
The company, which acquired the stablecoin TrueUSD in 2020, reportedly needed a $456 million bailout from Sun after its reserves were allegedly misappropriated by First Digital Trust.
First Digital Trust (FDT) is, in fact, already insolvent. This is a factual statement, devoid of any emotion. If you have any ties with them, please sever them as soon as possible to protect your assets. As for what consequences its founder, Vincent Chok, will face for his…
— H.E. Justin Sun 🍌 (@justinsuntron) April 2, 2025
First Digital Trust manages TrueUSD’s reserves, and the company diverted cash to a Dubai-based entity instead of an investment vehicle registered in the Cayman Islands, the publication reported, citing court documents prepared by U.S. law firm Cahill Gordon & Reindel.
When Techteryx tried to redeem funds between mid-2022 and early 2023, the company received “little or no funds back” from the Cayman Islands-based fund, and it allegedly defaulted on payments and failed to fulfill redemption requests, according to the court documents.
First Digital Trust has not had the chance to defend itself in court, the firm noted on X.
Despite its small market cap, the disruption centered around FDUSD is “a big deal,“ Coinbase's Head of Product, Conor Grogan, said on X Wednesday. Historically, the stablecoin has been popular among traders on Binance, with the exchange holding 94% of FDUSD in circulation.
Edited by Andrew Hayward
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