Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Stablecoin issuer Paxos acquires Fordefi to strengthen institutional DeFi access

  • Paxos purchases an institutional wallet provider in a $100M deal.
  • The move leverages Fordefi’s MPC wallet for a regulated custody framework.
  • DeFi is increasingly becoming part of the mainstream monetary infrastructure.

Paxos, a reputable blockchain infrastructure company behind multiple stablecoins, confirmed the acquisition on Forderfi late on Tuesday.

While the firms didn’t reveal the transaction’s value, sources close to the matter suggest that the deal exceeds $100 million, reflecting one of the most aggressive and strategic expansions in recent years.

The team emphasized:

This strengthens our ability to support institutions with more flexible and sophisticated digital asset infrastructure.

For context, Fordefi is a thriving enterprise wallet and custody provider.

This acquisition comes as institutions are moving to on-chain operations at an unprecedented pace.

Companies exploring blockchain technology like tokenized assets, complex DeFi strategies, and stablecoin settlements are seeking secure, modular custody.

Paxos aims to satisfy this demand by merging its compliant custodial infrastructure with Fordefi’s policy-centered MPC (multi-party computation) wallet tech.

Commenting on the strategic purchase, Paxos co-founder and CEO Charles Cascarilla said:

Together, Paxos and Fordefi provide customers with a world-class custody solution built upon advanced wallet technology and regulated, qualified custody. We’re excited to welcome Fordefi to our team as we enter this new phase of growth.

Paxos enriches its enterprise playbook

Businesses venturing into the blockchain and crypto sectors have leveraged Paxos for compliant infrastructure and custody.

The firm maintains a high-end regulatory model, with supervision from Singapore’s MAS, the NYDFS in the US, Abu Dhabi’s FSRA, and FIN-FSA in Europe.

Moreover, its tokenization and stablecoin systems power fiscal settlements for leading companies, including MasterCard, Nubank, PayPal, and Interactive Brokers.

Now, Paxos is integrating Fordefi to offer its customers a unified platform that supports everything from asset tokenization and issuance to streamlined access to DeFi protocols.

CEO Cascarillar added:

Fordefi has built an impressive stack and customer base founded on easy-to-use APIs and seamless web3 connectivity. Market participants require a regulated platform partner that meets their range of complex custody needs.

The fast-growing Fordefi

Fordefi has grown into a reputable institutional wallet provider in the DeFi industry since its 2021 launch.

The platform boasts two crucial features.

First and foremost, Fordefi’s MPC-based address model reduced single-point failure risks.

On the other hand, the policy engines enable enterprises to handle compliance rules, risk management, and permissions across decentralized and centralized setups.

Fordefi currently secures over $120 billion in monthly transactions, supporting nearly 300 enterprises, including hedge funds, crypto-native companies, and trading desks.

Josh Schwartz, CEO of Fordefi, believes Paxos will heighten its reach while aligning with its primary missions. He said:

Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions. Joining Paxos allows us to bring our technology to an even broader audience while maintaining our focus on security, usability, and innovation. Together, we will offer enterprises the unified custody and stablecoin infrastructure they need to deploy real-world digital asset use cases at scale.

For now, Fordefi will operate independently as Paxos pursues a phased integration.

The post Stablecoin issuer Paxos acquires Fordefi to strengthen institutional DeFi access appeared first on CoinJournal.

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Altcoins today: Monad rallies 60%; PONKE and QUICK plunge on Binance delisting

  • Monad maintains a bullish momentum after a strong mainnet launch and ecosystem integrations.
  • Binance Futures will delist PONKE, SWELL, and QUICK on November 28.
  • The three altcoins brace for intensified volatility in the coming few sessions.

The digital currency market is performing relatively well on Tuesday, with the value of all cryptocurrencies testing the $3 trillion mark after 2% surge in the past 24 hours.

Meanwhile, analysts are now forecasting substantial rebounds after today’s US PPI indicated cooling inflation and chances of the Fed lowering interest rates during the December meeting.

This article evaluates three tokens that remained in the limelight over the past 24 hours.

New Monad steals the show

The Layer 1 Monad has been in the spotlight amid its highly anticipated mainnet and token release, which happened yesterday, on November 24.

Meanwhile, native token MON has surprised analysts and traders.

Experts had forecasted bearish performance for the new token, citing previous trends and broader market weakness.

Indeed, most projects suffer immense selling pressure after official launches as the community locks profits after giveaways/airdrops.

However, the story is different for MON. The alt saw a brief decline after launch, hitting an intraday low of $0.02252.

However, continued excitement as leading projects like PancakeSwap and Solana revived optimism on the project, catalysing notable bounce-backs overnight.

The asset is now exchanging hands at $0.03931 after an over 60% gain on the 24-hour timeframe.

MON’s daily trading volume has skyrocketed by more than 4,700% to $1.11 billion.

That signals robust interest in the $424 million market-cap project.

Though the L1 sector could appear saturated, Monad’s EVM-compatibility perks and transaction settlement of up to 10,000 TPS (transactions per second).

Indeed, this developer familiarity and massive throughput positioned MON as a technically promising new player in the Layer 1 landscape.

Binance to delist PONKE, QUICK, and SWELL contracts

While the Monad community buzzed with optimism, Binance Futures rattled the altcoin space with a crucial announcement.

The team took it to X to confirm removing perpetual contracts of PONKE, QUICK, and SWELL on Friday, November 28, adding:

“The contracts will be delisted after the settlement is complete.

As anticipated, the mentioned tokens turned bearish after the announcement.

The trio plunged by over 5% in the past day.

While they are displaying resilience, possibly due to prevailing improved broader sentiments, the next few sessions, until November 28, look poised for overwhelming volatility.

The team warned about intensified fluctuations, thinned liquidity, and increased liquidation risks during the final hour before the last settlement. They said:

Users are strongly advised to actively monitor and manage open positions during the final hour, as the period may be subject to heightened volatility and reduced liquidity.

Meanwhile, Binance has urged users with active positions to close them before the listing time, Friday at 09:00 UTC, or face automatic settlement.

Moreover, individuals will no longer open new positions on the three contracts starting November 28 at 08:30 UTC.

The post Altcoins today: Monad rallies 60%; PONKE and QUICK plunge on Binance delisting appeared first on CoinJournal.

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FUSE token regains momentum after SEC issues no-action letter to the Solana DePIN project

  • SEC clears FUSE token as a non-security, providing regulatory clarity.
  • FUSE token rewards network participation and green energy actions, not profits.
  • Market shows renewed momentum, boosting FUSE token price outlook.

The US Securities and Exchange Commission (SEC) issued a no-action letter to Fuse, a Solana-based decentralised physical infrastructure network (DePIN) project, providing the token with rare regulatory clarity.

This development has sparked optimism on the FUSE token’s potential, highlighting its utility-driven design and positioning it as a notable example of how blockchain projects can navigate US securities regulations.

SEC clears Fuse

Fuse Crypto submitted a formal request to the SEC’s Division of Corporation Finance on November 19, seeking confirmation that it could continue offering its FUSE token without triggering enforcement action.

In its response, the SEC confirmed it would not recommend enforcement, based on the specific facts and circumstances described by Fuse.

This no-action letter, while conditional, marks a significant milestone for the project, as such regulatory guidance is rare in the crypto space.

Notably, the SEC decision signals a shift under Paul Atkins’ leadership toward a more practical and balanced approach to token oversight, contrasting with the more stringent policies of previous administrations.

Unlike speculative tokens, the FUSE token is designed for participation and network utility.

It functions as a reward for users maintaining Fuse’s distributed infrastructure rather than as an investment vehicle.

Holders earn tokens through active engagement, such as contributing to the network’s Solana-based operations, installing solar panels, or using electric vehicle chargers.

By linking token rewards to tangible, energy-focused activities, Fuse has structured FUSE as a consumptive asset that aligns with regulatory expectations, reducing the risk of it being classified as a security under US law.

Utility-driven token model

The SEC highlighted that FUSE token holders do not expect profits from Fuse’s managerial efforts, and the token does not grant ownership, dividends, or voting rights.

This utility-driven framework allows participants to redeem tokens for benefits such as energy bill discounts, priority access to home electrification upgrades, or carbon-offset programs.

By emphasising real-world use cases and sustainable energy participation, Fuse has created a model where blockchain technology directly incentivises environmentally conscious behaviour.

The token’s scalability ensures it can grow alongside the project’s broader green energy initiatives, reinforcing its role as a functional, consumptive asset rather than a speculative instrument.

The approval has resonated across the DePIN sector, a space valued at over $24 billion, as it provides a blueprint for other infrastructure-driven blockchain projects.

Fuse’s approach demonstrates how decentralised networks can effectively integrate tokenised rewards with practical utility, offering both financial and environmental value to participants.

Market impact and FUSE token price outlook

Following the announcement, the FUSE token has shown signs of regaining momentum in trading markets.

Current figures indicate that the token trades around $0.0077, with a market capitalisation of approximately $2.4 million and total value locked exceeding $68 million.

Over the past year, the token experienced a significant decline from its all-time high of $2.13 in January 2022, but the SEC’s no-action letter has injected renewed confidence among investors.

Looking ahead, Fuse’s strengthened regulatory position, combined with its utility-oriented model, could positively influence the FUSE token price outlook over the medium term.

The post FUSE token regains momentum after SEC issues no-action letter to the Solana DePIN project appeared first on CoinJournal.

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Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive

  • Bitcoin spot ETFs recorded $151M outflows on November 24.
  • Ethereum’s products saw inflows of $96.67 million.
  • Solana ETFs continue their winning streak with yesterday’s $57 million.

The cryptocurrency sector remains weak as bearish sentiments prevail.

Indeed, recent price drops, muted trading activities, and worries about short-term recoveries have seen many investors adopt a defensive bias.

Exchange-traded funds flow data reflects this uncertainty, with Bitcoin recording massive withdrawals as altcoin products hold steady. Let us find out more.

Bitcoin ETFs continue to struggle – Fidelity’s stands out

BTC spot ETFs had a rough session on Monday, with net outflows totaling $151 million, according to SoSoValue.

That signals deteriorated interest in these financial products, which have played a key role in institutional crypto adoption.

Meanwhile, Fidelity’s FBTC stood out as it posted positive ETF flows of $15.49 million on Monday amidst the broader retreat.

On the other hand, BlackRock has struggled lately, with iShares’ outflows surpassing $2.2 billion so far in November.

Meanwhile, the mixed ETF outflows come as the Bitcoin price experiences notable downward pressure.

The bellwether crypto is trading at $88,190, down from late last month’s high above $115,500.

Ethereum posts inflows

While investors remain more conservative about Bitcoin, Ethereum thrived.

Data shows Ether ETFs attracted $96.67 million in inflows yesterday, with BlackRock’s ETHA dominating at $92.61 million.

Ethereum seems to thrive as Bitcoin struggles, as narratives like the latest attacks on Strategy by JPMorgan magnified uncertainty in BTC-based financial products.

Institutions are seemingly migrating to Ethereum, possibly indicating renewed trust in its unique role in powering scaling solutions, decentralized apps (dApps), and support for new infrastructure.

ETH is changing hands at $2,925 after gaining 3% the past 24 hours. It lost more than 2% the past week.

Solana ETFs maintain upside momentum

Solana held its ground, attracting net inflows of $57.99 million on November 24.

The altcoin has seen positive ETF flows since its debut, highlighting steady institutional demand.

For instance, Bitwise’s Solana spot exchange-traded fund surpassed $500 million AUM last week.

Solana experienced amplified institutional interest due to its robust network that prioritizes scalability, speed, and security.

The team spent the past years rewriting Solana’s reputation, darkened by previous network outages.

Now, the blockchain exhibits a thriving developer community, booming app usage, and Solana-based tokens.

With these factors, Solana has carved a unique lane in the blockchain industry.

SOL is trading at $138 after soaring 5% in the last 24 hours.

The altcoin lost nearly 30% of its value over the past month.

Meanwhile, Solana inflow confirms investors looking beyond price performance while prioritizing long-term potential.

Meanwhile, the latest ETF flow statistics highlight a split market.

Investors are now exploring crypto offerings beyond Bitcoin.

Institutional investors are no longer treating all cryptocurrencies the same.

They’re now evaluating every project based on solid catalysts, narratives, and momentum.

The post Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive appeared first on CoinJournal.

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Aerodrome Finance locks 609K AERO tokens in strategic buyback

  • The project confirmed acquiring and locking 609,000 tokens today.
  • Its total buyback for November surpasses 3 million AERO.
  • The altcoin’s performance mirrors broader market downsides.

While uncertainty engulfed the overall crypto landscape, Aerodrome Finance has showcased its dedication to supporting and strengthening its native AERO.

The project has taken it to X to announce a significant buyback of 609,000 AERO tokens.

Meanwhile, this repurchase is part of Aerodrome’s programmatic strategy to react to fluctuating market conditions without compromising the altcoin’s tokenomics.

Aerodrome has completed buybacks of more than 3 million AERO this month, reflecting the team’s commitment to boosting investor confidence and token stability. The official X post read:

The Aerodrome Public Goods Fund has acquired and locked 609K AERO as part of its programmatic market-aware buyback, bringing total buybacks this month to 3M+.

Notably, the project’s Public Goods Fund oversees AERO’s buybacks and has been monitoring the alt’s performance while strategically accumulating and locking native assets to reduce supply and potentially boost demand.

Such an approach remains crucial to stabilize price actions and ensure investor confidence as digital assets see increased fluctuations.

Inside Aerodrome’s buybacks, so far

The latest purchase brings total buybacks for November to over 3 million AERO coins, reflecting a significant step toward strengthening the asset’s market status.

Moreover, the Public Goods Fund has accumulated and locked over 150 million tokens since its debut, leveraging initiatives like Relay programs, Flight School, and the PGF itself.

These programs aim to reduce supply pressure on AERO while rewarding loyal holders.

The predictable supply reduction guarantees a resilient ecosystem even during heightened volatility.

Market players often interpret such buybacks as an indicator of the team’s confidence in the project.

Aerodrome hits fresh volume milestone

The project followed the buyback announcement with another post reflecting impressive user activity.

Notably, Aerodrome has topped $200 billion in trading volume this year – an approximately three-times increase year-to-date.

Such a volume demonstrates Aerodrome’s rapid growth and increasing influence in the blockchain sector.

With strategic buybacks and ecosystem initiatives, Aerodrome is establishing itself as a serious player within the DeFi space.

Understanding Aerodrome Finance

Aerodrome Finance is a decentralized exchange and automated market maker (AMM) that serves as the primary liquidity on Coinbase’s Base project.

It facilitates streamlined token swaps by ensuring adequate liquidity.

AERO price outlook

Native AERO saw a brief rebound following the latest updates.

The cryptocurrency is trading at $0.7070, with a slight 1.47% uptick on the daily chart.

The surging trading volume reflects revived interest in the AMM.

Nevertheless, AERO has underperformed in recent sessions as sellers dominated the crypto landscape.

It lost nearly 25% of its value in the last 30 days.

The post Aerodrome Finance locks 609K AERO tokens in strategic buyback appeared first on CoinJournal.