CME Group halts futures trading as cooling system breaks down

  • The platform suspends trading across futures and FTX instruments.
  • That followed a cooling issue at a CyrusOne data center.
  • The disruption comes days after CME celebrated a record day for its crypto complex.

The Chicago Mercantile Exchange executed an unexpected trading pause on Friday after a CyrusOne data center overheated, sending major services and platforms offline. Today’s official X post confirmed:

Due to a cooling issue at CyrusOne data centers, our markets are currently halted.

A routine market session turned into chaos as futures linked to currencies, stock indices, Treasuries, and commodities stopped updating, suspending live price feeds, leaving traders without reliable prices as brokers lacked the data to quote markets.

Notably, the initial alert surfaced on CME’s platform at 02:40 GMT, notifying users of the outages in multiple platforms.

Meanwhile, leading contracts, including Nikkei, S&P 500, and Nasdaq 100, failed to update for several hours as of early Asian sessions.

Also, the currency side experienced issues as CME’s EBS platform stalled, with key pairs such as USD/JPY and EUR/USD offline.

The incident has grabbed the crypto community’s attention as it comes days after the Chicago Mercantile Exchange announced that its Cryptocurrency options and futures suite hit new ATHs in daily volume.

Brokers stranded as price feeds stop

The event left brokers navigating the markets without vital features as live pricing went offline.

Some suspended trading activities, while others switched to internal models or backup sources.

CME’s head of Middle East and Asia, Christopher Forbes, said that he has never seen such an incident in two decades, calling it “a pain in the arse.”

For now, the platform is working to maintain stable pricing using alternative feeds, which can lead to mispricing amid volatile conditions. Forbes stated:

We are now taking a lot of unnecessary risks here to continue pricing. My guess is the market is not going to like this. I think it will be a bit volatile on the open.

Meanwhile, the outage arrived as the market experienced slow activity due to the Thanksgiving holiday.

The timing adds to uncertainty

CME’s outage comes at an awkward time for the trading platform.

Four days ago, on November 24, the team celebrated a crucial breakthrough as its crypto derivatives complex recorded an all-time high in 24-hour volume, signaling renewed momentum for digital currencies.

Commenting on the milestone, CME Group’s Global Head of Crypto Products, Giovanni Vicioso, said:

Amid ongoing market uncertainty, demand for deeply liquid, regulated crypto risk management tools is accelerating. Clients across the globe continue to turn to our benchmark Cryptocurrency futures and options to hedge their risk and pursue opportunities in this complex environment, with both large institutions and retail traders driving record activity across our product suite.

Today, November 28, the narrative is vastly different.

Rather than celebrating increased activity, the exchange operator is fighting to answer questions about the resilience of its infrastructure.

For now, a leading derivatives engine remains offline, idling not due to financial challenges, but an overheated data center that usually runs quietly in the background.

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Trust Wallet integrates Apple Pay to streamline cryptocurrency purchases

  • Individuals can now buy crypto on Trust Wallet using Apple Pay.
  • The feature is currently available in more than 45 countries.
  • Such updates reduce entry barriers into the crypto and blockchain world.

Trust Wallet, one of the reputable digital asset wallets, has made another step toward promoting cryptocurrency adoption.

It has confirmed adding Apple Pay today, November 27, on X, allowing individuals in more than 45 countries to purchase their favourite virtual tokens within seconds.

Notably, the new feature promises an enhanced experience for new and existing users. The announcement read:

Trust Wallet has integrated Apple Pay. Buy your first crypto in seconds. Available in 45+ countries.

Indeed, purchasing digital tokens has been challenging for newbies, with lengthy verification procedures, numerous account setups, and limited payment methods often discouraging them.

Trust Wallet wants to address this challenge. With the integration of Apple Pay, it aims to make digital assets more accessible than ever, as individuals can now buy their “first crypto in seconds.”

How to get started

Depositing funds in a Trust Wallet account using Apple Pay is straightforward.

Users only need to open the app, visit the ‘Fund’ tab, and choose Apple Pay as the desired payment option.

Everything takes a few taps, mirroring the smooth experience when using Apply Pay for day-to-day purchases.

Most importantly, Trust Wallet benefits from Apple Pay’s credibility and security features, which include Touch ID, encrypted payments, and Face ID.

That promises streamlined crypto purchases that don’t compromise user safety.

Trust Wallet expands footprint globally

The team confirmed that users in more than 45 countries can access the Apple Pay transaction option.

Trust Wallet is lowering barriers to joining crypto, which will likely make it an entry point for millions who have struggled to access the digital assets market.

Individuals in jurisdictions with limited options to participate in the cryptocurrency industry now have a swift and secure option.

TWT price outlook

Trust Wallet’s native token remained somewhat muted in the past 24 hours.

The alt is trading at $1.08 after a slight 0.09% uptick on the daily price chart.

TWT has consolidated over the past week after losing nearly 15% in the last 30 days, influenced by broader selling pressure.

Meanwhile, TWT has underperformed the broader market today.

CoinMarketCap data shows the value of all cryptocurrencies increased by more than 3% the last 24 hours to $3.12 trillion.

Bitcoin is trading at $91,480, pumping the altcoin space as risk-on sentiments surfaced.

For now, Bitcoin should reclaim the key zone between $93,000 and $94,000 to shift its near-term trajectory to bullish.

That can support steady upswings towards the $100,000 psychological market.

However, a sudden selling wave will see it retracing to the ‘new’ liquidity region at $85,000 – $86,000.

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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.

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RAIN price skyrockets 110% as Enlivex announces $212M Rain token treasury

  • The biopharma company plans to launch the first-ever crypto treasury around the Rain project.
  • Enlivex sees long-term potential in Rain’s open-prediction market.
  • Native RAI rallied after the news, up 110% within minutes.

The cryptocurrency market remained relatively stable on Monday, with Bitcoin holding above $86,000.

While most assets saw minor price actions, RAIN has decoupled with a sharp uptrend.

The altcoin has gained roughly 110% minutes after news that biopharmaceutical firm Enlivex Therapeutics plans to build a $212 million Rain-based crypto treasury.

Reports suggest that the Nasdaq-listed company will complete the fundraise through PIPE (a private investment in public equity).

Notably, Enlivex will become the first institution to create a DAT (digital asset treasury) linked to a prediction-market crypto project.

The proposed raise involves Enlivex selling 212 million shares at $1 per share, with settlement in USDT and US dollars.

Meanwhile, the deal is expected to close by November 25, depending on final authorisations.

For a firm that focuses on immunotherapy research, dedicating millions to crypto reflects a bold move into the blockchain infrastructure.

Furthermore, the move adds credibility to RAIN as a legitimate token with serious value in the financial world.

The update flipped sentiments around the RAIN coin, catalysing a sharp rise minutes after the news surfaced.

Why the bold bet on Rain?

Talking with The Block, Enlivex board chairman Shai Novik highlighted Rain’s infrastructure as the scalable backbone that their firm has been pursuing.

He equalled Rain’s dominance in prediction markets to Uniswap in decentralised trading. Novik said:

For us, that open-architecture model represents the scalable growth engine we were looking for. We view Rain as the foundational infrastructure layer for the industry, similar to how Uniswap underpins decentralized trading.

That means Enlivex is more than just purchasing RAIN.

The biopharma is investing in a decentralized prediction-market model poised to transform on-chain information marketplaces.

A unique approach to reduce volatility

Indeed, cryptocurrency and volatility go hand in hand, and that has repelled many institutional players from interacting with digital tokens.

In that context, the Rain Foundation will back Enlivex’s DAT launch with a grant that adjusts the firm’s entry price, with 0.95 as the initial mNAV (modified net asset value).

That reduced early-stage volatility as the biopharma will have a stabilised baseline to start its DAT strategy.

RAIN price outlook

Rain’s native token led the gainers today.

The coin is trading at $0.007526 after a 110% uptick on its daily price chart.

The 66% surge in 24-hour trading volume indicates renewed appetite in RAIN.

While the alt eyes further uptrend, it can hardly decouple for long due to the prevailing broader selling pressure.

Therefore, RAIN remains prone to erasing part of its gains in the near term.

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Meme coin news: DOGE ETF update, LIBRA rallies 80%, Shibarium transactions skyrocket

  • Dogecoin exchange-traded fund expected on November 24.
  • LIBRA decouples as the team buys the Solana dip.
  • Shibarium transactions soar 78%, reflecting renewed user activity.

Virtual currencies displayed bearishness today as Bitcoin eyes further dips below $90,000, with altcoins hinting at further declines.

This article highlights tokens stealing the show in the meme token landscape, specifically Dogecoin, LIBRA, and Shiba Inu.

Grayscale’s DOGE ETF nears launch

The original meme cryptocurrency remains on the crypto community’s radar as debates around Grayscale’s anticipated Dogecoin exchange-traded fund surge.

Bloomberg’s ETF analyst Eric Balchunas expects the product to launch on November 24, citing the SEC guidance. He said:

I believe Grayscale will be out with the first Doge ETF in a week, 11/24. We’ll see, won’t be 100% till exchange notice, but based on SEC guidance, it looks good.

An approval would mark a breakthrough for Dogecoin and the entire meme market.

While these assets often drive the broader cryptocurrency industry, they have faced increasing criticism as they are hype-driven without intrinsic value.

A Dogecoin ETF will magnify the digital token’s visibility and credibility.

Moreover, regulated use cases will catalyze stable growth for DOGE.

The community expects Grayscale’s Dogecoin exchange-traded fund to launch soon.

Altcoin ETFs have gained traction since Solana, Litecoin, and Hedera started the wave on October 28, with approvals now almost a guarantee.

DOGE is trading at $0.1585 after losing 1.20% and 10% in the past 24 hours and week, respectively.

LIBRA skyrockets 100%

While bears rattled the overall cryptocurrency market, LIBRA decoupled with an explosive 103% surge.

It is one of the few tokens with gains today.

The meme’s sharp jump emerged after revelations that the LIBRA team purchased Solana.

According to blockchain investigator Lookonchain, they spent 61.59 million USDC to purchase 456,393 SOL.

The accumulation signaled confidence in Solana’s performance after the alt dropped nearly 15% the previous week.

Therefore, LIBRA’s rally isn’t organic, and the 60% decline in 24-hour trading volume could testify to that.

The themed token will likely erase its gains in the coming sessions, unless trading activity resurges amid improved broader sentiments.

Shibarium transactions jump 78%

Shiba Inu’s L2 scaling solution Shibarium saw an uptick in transactions recently, signaling renewed user activity.

According to Shibariumscan data, the platform’s daily transactions increased from 2.43K on November 16 to 4.33K within 24 hours – a roughly 78% increase.

This comes after Shibarium experienced reduced activity in early last month, with 24-hour transactions plunging to 1,500 on November 5 – a whopping 88% dip from October 24 peaks.

While the layer 2 records notable recoveries, Shiba Inu’s price continued to underperform.

SHIB lost 10% of its value in the last seven days, now trading at $0.000008856.

The alt remained relatively stable in the past 24 hours, shedding 0.95%.

Its trading volume increased by 17% in that timeframe, indicating trader interest.

Meanwhile, broader sentiments continue to influence the performance of meme cryptos.

Selling pressure dominated the crypto landscape as “Extreme Fear” gripped the market.

Nevertheless, Fundstrat’s Tom Lee expects the market to bottom as soon as this week.

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