Kategorie: Crypto News

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Toncoin price spikes 13% amid major Telegram-related news

  • Toncoin price rose 13% in the past 24 hours to lead top gainers on Wednesday.
  • Gains followed major news announcements by TON Foundation and another related to Telegram.
  • TON price traded at $3.48 at the time of writing, while volume was at $745 million.

Toncoin (TON) price caught the crypto market’s attention on Wednesday as it rose sharply amid broader market struggles for Bitcoin and top altcoins.

With 13% in price gains in the past 24 hours, Toncoin ranked among the top gainers on the day, outpacing the likes of Quant, Uniswap, and Injective among the top 100 by market cap.

TON, native to The Open Network blockchain, rallied as traders raced to buy amid a series of major Telegram news.

Toncoin price soars, volume up 400%

As the price of Toncoin soared by more than 13%, trading volume rose through the roof.

As per data from CoinMarketCap, Toncoin recorded a 410% spike in volume, hitting $745 million.

TON’s price reached highs of $3.69 before slightly retreating to $3.48 at the time of writing.

Gains see TON token up by more than 10% in the past week.

Before the latest gains, Toncoin price largely traded flat over the week, with no momentum after bulls gave up ground.

Is this uptick thus going to push the altcoin to above $5? The price last hovered above these levels in early 2025.

Telegram news buoys TON price

As noted above, the main catalyst for Toncoin’s notable price surge is a series of positive news.

The vibe mostly relates to two major announcements linked to Telegram and the TON Foundation.

First, the TON Foundation revealed the appointment of Nikola Plecas as its new Vice President of Payments.

Plecas, a former Visa executive with deep expertise in crypto product innovation, is tasked with scaling TON’s payment infrastructure to cater to Telegram’s massive user base of over 1 billion.

His focus will be on enhancing interoperability, security, and scalability—key pillars for mainstream adoption of Web3 payments.

Plecas’s experience at Visa, where he shaped the company’s global crypto strategy, positions him as a pivotal figure in TON’s ambition to revolutionize payments within the Telegram ecosystem.

Why else is Toncoin’s price up today?

Also fueling optimism around TON is news that Telegram plans to raise $1.5 billion through a bond sale.

Notably, market reaction largely jumped as traders noted that Telegram’s initiative is backed by Wall Street heavyweights like Citadel and BlackRock.

That’s not all. TON is also expanding its ecosystem, integrating Ethena’s USDe and tsUSDe stablecoins for in-app savings.

Collaboration with Tether via LayerZero for a multi-chain network has also been a key development.

The post Toncoin price spikes 13% amid major Telegram-related news appeared first on CoinJournal.

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Solana price drops to $172 even as RWA integration accelerates DeFi evolution

  • RWA functionality could enable tokenised treasuries and synthetic ETFs.
  • Oracle model uses on-demand data for improved cost efficiency.
  • Key price support at $168, resistance at $178.50; outlook cautious.

Solana is facing renewed pressure in the market as its native token, SOL, has dropped to $172.67 at the time of writing, down 1.26% in the last 24 hours and 3.58% over the past week.

Solana price
Source: CoinMarketCap

Despite posting a strong monthly gain of 16.05%, the recent pullback comes as traders reassess short-term positioning across risk assets, especially in the altcoin segment.

Still, behind the price action, important ecosystem changes are underway that could shape Solana’s long-term relevance, particularly the growing momentum around real-world asset (RWA) integration in decentralised finance (DeFi).

RedStone, a modular oracle provider, has formally launched its support for Solana, enabling developers to feed off-chain data such as financial, commodity, and macroeconomic indices directly into smart contracts.

As traditional and digital finance converge, this kind of infrastructure is increasingly seen as a prerequisite for sophisticated DeFi products that seek to mirror or interact with real-world markets.

RedStone brings real-world market data to Solana smart contracts

RedStone’s launch on Solana introduces a new layer of functionality to the network’s DeFi protocols.

The oracle platform delivers price feeds and broader financial data through a unique “on-demand” model, which allows decentralised apps to pull data only when required, keeping costs low and performance high.

This is particularly suited to Solana’s high-speed, low-fee environment.

The oracle integration could enable the creation of tokenised treasuries, synthetic ETFs, and structured products that rely on real-world inputs—use cases previously limited by on-chain data constraints.

With RWA products projected to grow significantly as institutional investors look for blockchain-native representations of familiar assets, Solana’s inclusion in this ecosystem could increase its appeal among developers and financial players alike.

DeFi ecosystem may benefit from RWA demand

The real-world asset trend is picking up across several Layer 1 chains, with Ethereum and Avalanche previously leading the charge.

However, Solana’s growing developer base and infrastructure upgrades make it well-positioned to compete in this arena.

Its ecosystem already includes lending platforms, decentralised exchanges, and yield aggregators that can now incorporate external data streams for enhanced offerings.

This opens the door for dynamic interest rates based on treasury yields, derivatives tied to commodity prices, and more complex instruments that mimic TradFi structures, giving institutional players a familiar risk framework within a decentralised context.

The integration also aligns with Solana’s broader mission to offer scalability without compromising on functionality.

Price outlook cautious as SOL clings to support

Despite the promising technical upgrades, market participants are watching SOL’s near-term price action closely.

After rallying earlier this month, the token has encountered resistance near the $178.50 level and is now hovering just above a key support band at $168.00–$170.00.

The 9-period simple moving average (SMA) currently aligns with $172.50, which has become a short-term pivot.

A sustained move below this level could invalidate the bullish bias and expose the asset to further declines toward $160.00.

On the upside, a break above $178.50 could prompt a retest of $185.00 to $190.00, though momentum indicators suggest buyers may need stronger catalysts.

Traders are increasingly cautious as macroeconomic uncertainty and a modest decline in daily trading volume—$3.66 billion at present—point to thinning conviction in the short term.

However, long-term participants continue to watch Solana’s ecosystem development, particularly how it evolves around RWA functionality.

The post Solana price drops to $172 even as RWA integration accelerates DeFi evolution appeared first on CoinJournal.

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Bybit opens European headquarters in Vienna after securing MiCA license in Austria

  • Bybit opens European HQ in Vienna after securing Austria’s MiCA license.
  • The MiCA license allows Bybit to serve all 29 European Economic Area countries.
  • Bybit plans 100+ hires and collaboration with local universities in Vienna.

Bybit is establishing its European headquarters in Vienna, Austria, following the successful acquisition of a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework.

The regulatory milestone, announced on May 29, signals the exchange’s firm commitment to compliance and positions it to offer services legally and seamlessly across the 29 member states of the European Economic Area.

Bybit can now offer services to all European residents

The approval was granted by Austria’s Financial Market Authority (FMA), authorising Bybit EU, registered under commercial number 636180i, to operate as a regulated crypto asset service provider (CASP) within the bloc.

The MiCA framework, which became enforceable in early 2025, is reshaping the European crypto landscape by requiring all firms offering digital asset services in the region to operate under unified licensing conditions.

Bybit’s ability to secure this license not only showcases its readiness to adapt to evolving legal standards but also sets a precedent for other exchanges aiming to legitimise their presence within Europe.

The Dubai-based exchange can now serve the nearly 500 million residents across Europe under a harmonised legal framework designed to enhance market transparency, strengthen consumer protection, and combat illicit activities.

Ben Zhou, the co-founder and CEO of Bybit, emphasised that regulatory compliance remains a top priority and stated that the firm is actively collaborating with regulators worldwide to ensure its users benefit from robust legal protections.

Bybit commits to creating over 100 jobs in Vienna

As part of its entry into the European market, Bybit has committed to creating more than 100 new jobs in Vienna, supporting its goal of offering localised services that align with EU rules and meet regional customer needs.

Mazurka Zeng, the CEO of Bybit Europe, expressed enthusiasm about the move, describing Vienna as the new home of Bybit’s European operations and highlighting the firm’s contribution to Austria’s progressive financial ecosystem.

In addition to scaling its workforce, Bybit plans to strengthen ties with academic institutions throughout the region through its Blockchain for Good Alliance (BGA), an initiative designed to promote blockchain innovation and education.

Currently ranked as the second-largest crypto exchange by trading volume, Bybit continues to build its global footprint with a renewed focus on regulatory legitimacy and user-centric services.

Despite facing a major setback earlier in the year with a $1.5 billion security breach, Bybit has demonstrated resilience by regaining market confidence and recovering liquidity within just 30 days.

Notably, law enforcement authorities in Germany helped in seizing approximately €34 million from the crypto platform eXch, which was allegedly used to launder part of the funds stolen during the February 2025 attack on Bybit.

The post Bybit opens European headquarters in Vienna after securing MiCA license in Austria appeared first on CoinJournal.

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ENS price surges: could Ethereum Name Service hit $100k milestone?

  • Ethereum Name Service (ENS) surges 8% to hit a two-week high amid altcoin buzz.
  • Analysts see ENS as one of top Ethereum beta plays.
  • If bulls rally, a breakout to $50 could allow a potential retest of $100 amid ETH spike.

Ethereum Name Service (ENS) price has jumped more than 35% this past month and was up 8% in 24 hours on Thursday as some altcoins stole the shine off Bitcoin.

By reaching the current price levels, ENS is seeing its market cap hover near $903 million, while the 24-hour trading volume is up 157% to over $192 million.

Per Coinglass, Ethereum Name Service derivatives data analysis shows volume has spiked more than 120% to over $306 million. Meanwhile, Open Interest in the token is up 30%, with open positions worth of $114 million signalling market interest.

What is Ethereum Name Service?

The Ethereum Name Service (ENS) is an open-source, decentralized naming protocol built on the Ethereum blockchain.

It transforms user-friendly Ethereum addresses, such as jane.eth, into the complex, machine-readable codes recognized by wallets like Metamask. Additionally, ENS supports reverse mapping, allowing metadata and machine-readable addresses to be linked with these human-friendly Ethereum names.

ENS aims to simplify interaction with the Ethereum ecosystem, making it more intuitive and accessible for users, much like the Internet’s Domain Name System (DNS) enhances web usability.

Similar to DNS, ENS employs a hierarchical structure of dot-separated domains, where domain owners have full authority over their respective subdomains.

Analysts are pointing to ENS as one of the top Ethereum (ETH)-beta plays today. With ETH expected to rally in coming months, tokens like EigenLayer (EIGEN), Arbitrum (ARB), Lido DAO (LDO) and Ethereum Name Service (ENS) could be poised for gains too.

Can ENS price reclaim $100$

With interest in ENS rising amid adoption that includes further traction in the Ethereum and Solana name domain ecosystems, price has looked to return to last year’s lofty highs.

ENS hitting those highs of $48 reached in December 2024 is likely after buyers pushed the altcoin token to two-week highs of $25, a potential technical breakout signals the price could target resistance around $30.

Traction of Ethereum Name Service as a decentralized DNS platform, plus its growing NFT momentum offer additional tailwinds.

On the technical charts, ENS is currently testing resistance near its 200-day moving average and breakout would signal further gains.

RSI and an ascending triangle pattern on the daily chart suggest if buyers reclaim $30, the next uptick could drive prices to 2024 highs. The $100 mark represents a psychological level that ENS bulls will target if risk on sentiment prevails in coming months.

However, if the market flips negative, a downtrend can bring the $20 mark into view. Robust support lies in the $12-$16 range.

The post ENS price surges: could Ethereum Name Service hit $100k milestone? appeared first on CoinJournal.

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FTT posts slight gains as FTX prepares $5B in distributions

  • FTX Token recently slipped amid news of $5 billion distributions
  • But what does FTX distributions mean for potential FTT price movement?
  • Broader market sentiment may also dictate price direction for the FTX token.

The FTX Token (FTT), the native cryptocurrency of the now-defunct crypto exchange FTX, is up 2.8% in the last 24 hours to trade above $1.24.

While not huge, the gains continue FTT token’s uptick from lows of $1.12 hit earlier in the week.

This comes as the FTX holder community eyes fresh momentum amid the impending $5 billion second phase of bankruptcy distributions.

But what does this initiative that starts on May 30, 2025 mean for FTX Token?

FTX Token recent price action

Over the past month, FTT has seen a notable 32% surge, driven by speculation around the FTX bankruptcy estate’s upcoming distributions.

However, the token has faced downward pressure in the past week, dropping to around $1.12 before rising to $1.24 in the last 24 hours.

The downturn threatened to stall the altcoin’s bullish momentum, with the pullback coming amid broader market struggles.

After initially spiking on the bankruptcy estate’s plan to distribute over $5 billion to creditors starting May 30, 2025, the token dropped again.

Now that the payouts, which will range from 54% to 120% of original claims, are about to commence, activity around FTT is rising.

Per CoinMarketCap data, daily volume has jumped 21% in the past 24 hours to reach $26.7 million.

FTX distributions and potential price movement

The FTX bankruptcy estate’s plan to distribute over $5 billion to creditors marks a significant milestone in the exchange’s recovery process.

As CoinJournal highlighted earlier, the anticipation of the announced payouts fueled a 14% surge in FTT’s price.

Some investors see the repayments as positive news that could further bolster market confidence in FTT.

It’s still possible FTX’s collapse in November 2022 continues to constrain FTT, which has plummeted to below $1 since the crypto exchange imploded.

But the token, which peaked at $85 in September 2021, has shown resilience in recent months.

While FTT has largely traded below $2, occasional spikes have driven it higher. Notable news around bankruptcy updates have provided most of this upward movement.

Also, a February 2025 post from incarcerated former CEO Sam Bankman-Fried triggered a brief 30% rally, pushing FTT to $2.34 before it retreated.

This downturn was brutal though,with FTX token hitting lows of $0.78 in early April 2025.

Bears might yet target further pain, but ongoing speculation around creditor repayments, and broader market sentiment could be huge catalysts for the altcoin.

The post FTT posts slight gains as FTX prepares $5B in distributions appeared first on CoinJournal.