Kategorie: Crypto Business

Daily headlines and news about crypto business.

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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.

The post Meme coin news: DOGE ETF update, LIBRA rallies 80%, Shibarium transactions skyrocket appeared first on CoinJournal.

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Smart trader shifts to Hyperliquid’s HYPE after pocketing $2.5M profit on STRK

  • A savvy trader locks in over $2.5M on a Starknet long position opened three days ago.
  • He has rotated to HYPE with a 10x long worth roughly $2.98M.
  • Hyperliquid’s token could be poised for an upward move.

Smart money participants are celebrating profits despite the current broader bearish sentiments, which underpins Bitcoin around $95,000.

One trader is grabbing attention with his high-stakes leveraged bets.

According to on-chain tracker Lookonchain, the player has secured over $2.5 million in returns after a well-timed long on Starknet (STRK), executed three days ago.

Most interestingly, he has redirected attention to a new position, going long on Hyperliquid’s HYPE with a substantially higher leverage of 10x.

These back-to-back moves are coming as uncertainty engulfs the financial landscape, with most traders opting for wait-and-watch and caution.

Meanwhile, the latest trade has fueled optimism among HYPE holders, as it indicates confidence in the altcoin’s potential rally in the near term.

An STRK long that hit its target

Blockchain data shows the wallet opened a 5x long on 29.5M Starknet tokens, a position worth roughly $6.7 million, three days ago.

The player entered just as STRK began creating a short-term base.

The digital token has remained on the watchers’ radar lately due to ecosystem upgrades, a thriving staking marketplace, and uncertainty linked to overall market downsides.

While many hesitated as fear crippled the cryptocurrency sector, the smart trader joined before the short-lived rally started, riding a clean uptrend.

His profit surpassed $2.5 million as Starknet extends its recovery, now up 30% the past seven days.

STRK is trading at $0.2104 after losing 8% the past 24 hours amid broader weakness and profit-taking after the latest surge.

HYPE set to rebound after POPCAT scandal?

Hours after the STRK returns emerged in trackers, the trader entered a new position – a long on 77,598 HYPE, worth approximately $3 million, with a significantly higher 10x leverage.

The timing drew attention.

Hyperliquid has been among the most-watched DEXs the past week, following POPCAT’s manipulation, which saw the platform temporarily halt withdrawals.

HYPE endured substantial bearishness following the event, losing more than 10% of its value in the past week.

With the wallet’s transaction becoming some sort of sentiment indicator, enthusiasts trust HYPE is poised for a rebound as the exchange’s manipulation debates settle.

Committing almost $2.98 million to a 10x long underscores the conviction of short-term uptrends amidst broader market struggles.

HYPE remained relatively stable the past 24 hours, losing only 1.40% to trade at $38.41.

Technical indicators display neutral conditions as HYPE eyes the next move.

The Moving Average Convergence Divergence remained relatively flat with the signal line on the 1-hour chart.

Also, the Relative Strength Index at 48 suggests indecisiveness.

For now, market players are watching to see whether the smart whale turns into a reliable signal.

If his history rhymes, HYPE could be poised for a near-term rebound.

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Sui Foundation partners with Crypto.com to enhance institutional-grade SUI custody

  • The collaboration aims to boost liquidity and institutional custody for SUI assets.
  • It offers compliant cold storage, regulatory-ready solutions, and transparent audits.
  • SUI gained nearly 5% the past week.

Crypto.com exchange revealed a strategic collaboration with the Sui Foundation, which handles the thriving Sui blockchain.

According to the official announcement, the move aims to expand liquidity, institutional-level custody, and compliance for the platform’s native coin, SUI.

With this alliance, wealthy individuals and enterprises using Crypto.com can store and manage their SUI holdings in a secure and regulated custody environment.

That comprises transparent audit trails, cold storage security, and streamlined regulatory procedures, bolstering customer confidence in asset safety and compliance.

Crypto.com’s president and COO Eric Anziani commented on the partnership, saying:

We’re excited to provide secure custody and liquidity solutions for the SUI token to the Sui Ecosystem. Our rigorously compliant infrastructure gives institutional and high-net-worth clients the confidence they need to engage securely and confidently.

Most importantly, individuals will have access to Crypto.com’s robust liquidity pool, offering cost-efficient and faster conversions. That’s a crucial element for clients operating in institutional trading setups or managing massive portfolios.

Sui thrives in institutional adoption

The Crypto.com collaboration comes as the Sui blockchain experiences amplified appetite from institutional investors.

The network offers predictable, user-friendly fees and an innovative infrastructure designed for enterprises and developers.

The project has seen an increase in institutional products in recent months, including ETF filings, ETNs, and Trusts.

These continue to push SUI into regulated markets, positioning the altcoin as a vital player in blockchain evolution.

Yesterday, Nasdaq-listed SUI Group partnered with Bluefin to propel institutional adoption of digital products tied to the Sui network.

Meanwhile, the Crypto.com alliance signals a crucial step for the Sui Foundation in creating a compliant environment for institutional participation.

The move improves the blockchain’s ability to onboard wealthy investors and businesses looking to interact with SUI in a compliant way.

Commenting on Crypto.com’s deal, Sui Foundation’s Managing Director Christian Thompson said:

We’re pleased a top-tier platform like Crypto.com now supports SUI custody, providing a crucial on-ramp for institutions and high-net-worth clients. Sui’s momentum with institutions is compounding, and it’s incredible to see crypto’s leading infrastructure providers rally around the ecosystem.

Notably, the strategic alliance fills the gap between Sui’s innovative offerings and the financial setups that require enterprise-level oversight.

Regulated global ecosystems like Crypto.com can help the Sui Foundation cement its credibility and visibility in TradFi.

SUI price outlook

The native token is hovering at $2.10 after gaining nearly 5% the past seven days.

However, SUI has dropped around 3% of its value today, as the broader market corrects after yesterday’s rally.

Meanwhile, prevailing institutional interest positions SUI for remarkable long-term growth.

As the cryptocurrency industry matures, collaborations that combine compliance and innovation will likely shape the future of blockchain technology.

The post Sui Foundation partners with Crypto.com to enhance institutional-grade SUI custody appeared first on CoinJournal.

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Morpho Network (MORPHO) suffers service interruption as users face rendering issues

  • Morpho faced a brief outage on Nov. 6, hitting indexers, backend systems, and the app UI.
  • Core lending/borrowing stayed online, but users struggled to load dashboards and live data.
  • Backend and indexers are restored, though frontend rendering remains impaired.

As bears thrive amid broader market indecisiveness, decentralized lending protocol Morpho suffered a momentary service disruption today, November 6.

According to the project’s status page, the event impacted backed systems, indexer performance, and application rendering, blocking user access to key features.

While the outage didn’t suspend crucial borrowing and lending activity, Morpho users are facing challenges when viewing real-time data and loading dashboards.

The team acted quickly to solve indexer and backend issues, but front-end rendering, which supports the user interface, remains down.

Rendering still impaired after backend restoration

Morpho developers stabilized address indexer delays and the backend system within hours after the incident.

These two components are crucial in managing transaction data and feeding it into application layers.

Nonetheless, the frontend rendering, responsible for showcasing protocol metrics and user data, continues to face outages.

Users are either encountering blank pages or outdated info when navigating their lending positions.

Most importantly, the incident didn’t impact funding or pending lending operations.

It is an infrastructural issue not linked to security or smart contracts.

About Morpho – an advanced DeFi platform

Morpho Network establishes itself as a reliable, open, and efficient protocol that enables users to borrow assets or earn yield smoothly.

Lenders can leverage the platform’s user-friendly, non-custodial vaults that optimize yield for depositors (automatically).

On the other side, borrowers can access liquidity through Morpho Markets, where they can borrow assets without third parties.

Furthermore, Morpho’s permissionless and flexible model permits businesses and developers to curate special vaults, build dApps using the protocol’s core architecture, and create advanced markets.

The openness has increased Morpho’s appeal in the DeFi lending landscape.

Recently, Morpho Vaults version 2 launched on Ethereum “to power the future of asset curation.”

Meanwhile, Morpho’s growing developer ecosystem and interconnected design mean technical glitches on the frontend can ripple across liquidity providers, integrated applications, and users.

Morpho connects with leading liquidity platforms like Compound, Aave, and the recently hacked Balancer, matching borrowers and lenders directly to improve yield.

Morpho Network operates in a high-stakes atmosphere where uptime and reliability are vital.

Even temporary frontend issues can frustrate borrowers and liquidity providers who rely on consistent visibility.

Nevertheless, the swift move to restore the backend demonstrates the team’s dedication to user-friendliness and accountability.

MORPHO price outlook

The native coin stayed relatively calm in the past 24 hours. It gained a mere o.7% to trade at $1.65.

Meanwhile, the 45% slump in daily trading volume indicates reduced interest from traders in MORPHO, likely due to broader market uncertainty.

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Starknet (STRK) integrates Dfns to unlock institutional-grade wallet automation

  • Enterprise and developers can now create and monitor wallets with automation.
  • The move adds institutional-level features like webhook alerts and MPC signing.
  • The collaboration improves wallet security, auditability, and programmability for businesses.

Ethereum-based Layer 2 Starknet has officially integrated with a renowned institutional wallet infrastructure provider, Dfns.

The move marks a crucial breakthrough in bringing automated, auditable, and secure wallet operations to the thriving STRK blockchain.

This integration allows enterprises and developers to build and manage Starknet wallets via Dfns.

That will mean real-time visibility, webhook automation, complete DeFi & NFT compatibility, and policy-based governance.

The wallet service provider said:

Dfns brings enterprise-grade wallet management to Starknet, enabling automated, auditable, and programmable wallet operations.

Precisely, Dfns is offering the STRK community control over their assets with the same transparency, scalability, and management that institutions demand.

Starknet moves toward wallet automation

Dfns’s Tier-1 integration introduces a massive system that handles the entire transaction lifecycle, from execution to confirmation.

Meanwhile, developers can access these innovative tools via an intuitive dashboard or API.

That promises streamlined wallet creation and management without complex infrastructure setups.

Some newly added capabilities include:

  • Monitoring the entire transaction lifecycle through a dashboard or API.
  • Accessing the complete on-chain details for compliance and audits.
  • Securing transaction signing leveraging HSM or MPC technology.
  • Programmed token detection for real-time balance updates.
  • Webhood automation to ensure instant alerts and settlements.
  • Full-time support for account abstraction to improve user experience.

Building on a previous partnership

Today’s integration is part of the history of a technical alliance between Starknet and Dfns.

Mid-last year, the wallet service provider participated in Starknet’s STARK curve implementation, allowing MPC wallets to run natively with Starknet’s cryptography.

The 2024 announcement read:

This toolkit will help developers currently building apps and services on Starkware and Starknet to enhance key management using multi-party computation and threshold signatures.

That advancement laid the groundwork for the recent integration, finalizing Dfn’s complete support for the Starknet ecosystem.

With the full infrastructure now live, developers and businesses can deploy decentralized applications (dApps) that merge compliance, decentralized scalability, and automation.

Fueling enterprise blockchain adoption

The Starknet-Dfns alliance comes as institutions navigate the blockchain sector, drawn by compliant, auditable, and automated tools.

With Dfns’ infrastructure, organizations can access such perks when leveraging Starknet’s high-speed, low-cost ecosystem.

The alliance merges Ethereum’s scalable L2 system with enterprise-grade wallet management.

That reflects a maturing blockchain industry, blurring the line between DeFi and TradFi.

STRK price outlook

Starkent’s digital token demonstrated stability amidst the latest Dfns updates.

It trades at $0.1061 after a less than 1% dip on its daily chart.

However, the 35% plunge in 24-hour trading volumes signals weakness, reflecting the broader market uncertainty.

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