Schlagwort: crypto business

• Major altcoins like Ether and Solana are strongly outperforming Bitcoin.
• BNB, the token of BNB Chain, surged 6% to a new all-time high of 875.
• Bitcoin’s market dominance is on the verge of hitting a new six-month low.

In a stunning display of defiance, a powerful cohort of major altcoins staged a dramatic comeback on Wednesday, completely eclipsing Bitcoin and brushing off a wave of risk-aversion that sent traditional stock markets lower.

The move signals a potential changing of the guard, as leadership in the digital asset space appears to be shifting, at least for now, from the king to its court.

The rebellion was led by BNB, the native token of the BNB Chain, which blasted through to a fresh all-time high, surging 6% to hit 875.

The ferocity of the rebound was just as palpable in the Ethereum market, where Ether (ETH) rocketed 7% from its overnight lows to 4,350, completely erasing all of Tuesday’s losses in a single, powerful move.

Some market observers speculated the rally was fueled by ETH treasury firms strategically buying the dip.

The strength was broad-based. Solana’s SOL gained a formidable 6.1%, also outpacing its recent decline, while tokens for ChainLink and AAVE put on even more impressive shows, soaring 10% and 7%, respectively.

A king on shaky ground

While the altcoin market was exploding with activity, Bitcoin was a sea of calm. The leading cryptocurrency advanced a modest 1.4% from its lows, trading just above 114,000.

This tepid performance was more in line with the broader capital markets, where major stock indices like the S&P 500 and the tech-heavy Nasdaq closed in the red.

This stark divergence is forcing a market-wide reassessment. The relative strength of altcoins during a period of fear is a notable and potentially significant signal.

Bitcoin’s dominance—a key metric measuring its share of the total crypto market capitalization—is now teetering on the brink of a new six-month low.

Historically, a sustained fall in Bitcoin’s dominance is the classic harbinger of an “altcoin season,” a period where smaller, riskier tokens take the lead.

But before investors get carried away by dreams of repeating the wild, speculative rallies of past cycles, a crucial note of caution has been sounded.

Analysts at ByteTree, led by Shehriyar Ali and Charlie Morris, warn that the rules of the game have fundamentally changed.

“An alt season may be brewing, but it will not look like the wild rallies of the past,” their report stated. 

Instead, it will be defined by selective, fundamentals-driven growth, rewarding quality projects and penalising those without substance.

The message is clear: the era of blind speculation may be over. The current uprising is not lifting all boats equally.

Instead, it appears to be a more discerning, mature rebellion, one that is selectively rewarding projects perceived to have genuine value and long-term potential.

The post The altcoin uprising: Ether, Solana, and BNB defy market fear as Bitcoin stalls appeared first on CoinJournal.

• SoFi will enable instant cross-border transfers using Bitcoin and UMA.
• Transfers will convert USD to Bitcoin via Lightning, then to local currency.
• The service will first launch in Mexico with lower fees than traditional remittances.

SoFi Bank is preparing to shake up the global remittance industry by introducing a blockchain-powered international money transfer service.

The US digital bank has partnered with Lightspark, a Bitcoin infrastructure company founded by former PayPal president David Marcus, to bring faster and cheaper cross-border payments directly into its app.

SoFi steps into blockchain payments

The new service will allow SoFi customers to send money abroad without relying on traditional remittance providers or third-party platforms.

Instead, transfers will be powered by the Bitcoin Lightning Network and Lightspark’s Universal Money Address, or UMA.

SoFi + Lightspark = instant global payments. 🌍⚡

Send money abroad in seconds, right from the @sofi app, powered by UMA.

Coming soon for 🇺🇸→ 🇲🇽 with more countries to follow.

The future of global payments is here: https://t.co/MxAA5o9k2Z pic.twitter.com/GFVq4KhoxF

— Lightspark (@lightspark) August 19, 2025

This technology is designed to move dollars across borders instantly, at any time of the day, while ensuring that fees and exchange rates are displayed clearly before each transaction.

SoFi says the service will debut later this year, beginning with Mexico, a key remittance corridor from the United States.

Once rolled out, users will be able to initiate transfers directly through the SoFi app, where US dollars will be converted into Bitcoin, routed across the Lightning Network, and then converted back into the recipient’s local currency before being deposited in their bank account.

Notably, this is not SoFi’s first step into the digital asset space.

The bank began offering crypto trading in 2019, but later scaled back the service following regulatory concerns during the collapse of FTX.

However, with a federal banking license secured and new rules under the GENIUS Act offering greater clarity, SoFi is reentering the sector more aggressively.

During its most recent earnings call, the company outlined ambitions beyond remittances.

These include plans for stablecoin issuance, crypto-backed loans, and staking infrastructure for other institutions.

By positioning itself as a bridge between traditional banking and Web3, SoFi hopes to secure a long-term advantage over pure-play crypto platforms.

Faster and cheaper transfers

The promise of speed and lower costs is central to SoFi’s plan.

Traditional remittances often take days to clear and can cost families as much as 6% of the amount being sent.

By embedding blockchain rails into its platform, SoFi expects to deliver a service that is available around the clock and significantly below the national average cost of remittances in the United States.

Anthony Noto, SoFi’s chief executive, emphasised that many of the bank’s members rely on sending money to loved ones overseas.

He said that building blockchain transfers directly into the SoFi app will give users “faster, smarter, and more inclusive access” to their funds.

The bank is also opening a waitlist to meet early demand and gauge interest from members who frequently send money abroad.

Lightspark provides the backbone

Lightspark, which launched in 2022, has been positioning its UMA as a universal standard for moving money globally in a way that feels as simple as sending an email.

According to Marcus, Bitcoin is the only open payments network that can power such transactions securely and at scale.

Marcus added that UMA on SoFi will allow members to move dollars instantly with full transparency and control, while avoiding the delays of traditional systems.

The collaboration makes SoFi the first US bank to integrate Bitcoin’s Lightning Network and UMA at this scale.

It also comes at a time when other major institutions, including Bank of America and JPMorgan, are testing blockchain for their own transfer systems.

The post SoFi Bank to start using Bitcoin for cross-border payments appeared first on CoinJournal.