Schlagwort: crypto markets

• A high-stakes vote is underway to choose Hyperliquid’s native stablecoin.
• The Stripe-aligned Native Markets has taken an early but slim lead.
• The winner will control a 5.5 billion dollar prize and a key DeFi rail.

The opening shots have been fired in a high-stakes and hotly contested battle for the financial soul of one of crypto’s fastest-growing exchanges.

The race to mint Hyperliquid’s native stablecoin, USDH, is underway, and in the early innings, the formidable, Stripe-aligned Native Markets team has seized a tenuous lead.

But with the majority of voting power still on the sidelines, the ultimate prize remains very much up for grabs.

As of Thursday morning in Hong Kong, Native Markets has secured 30.8 percent of the delegated stake, a lead built on the back of heavyweight validators like infinitefield.xyz and Alphaticks.

Its closest rivals, the New York-regulated Paxos Labs and the innovative Ethena, are trailing at 7.6 percent and 4.5 percent, respectively. Other contenders, despite splashy proposals, have yet to gain significant traction.

The undecided whales and the path to victory

But this is not a race that will be won in the early stages. The bigger and more decisive picture is that more than half of the total stake—a commanding 57 percent—remains unassigned.

This silent majority includes some of the most powerful and influential validators on the Hyperliquid network, including the single largest, Nansen x HypurrCollective, which alone controls over 18 percent of the vote, and the institutional giant, Galaxy Digital.

The final outcome will be decided by where these titans ultimately land.

Their votes will determine whether Native Markets’ early momentum is a decisive opening salvo or merely a fleeting lead in a long and unpredictable war. The deadline for this crucial decision is September 14.

A prize beyond measure

The stakes of this contest cannot be overstated. This is far more than a simple token launch; it is a battle to wire a new stablecoin directly into the financial backbone of a DeFi powerhouse.

Hyperliquid currently holds a staggering 5.5 billion dollars in USDC deposits, a sum that represents roughly 7.5 percent of that stablecoin’s entire circulating supply.

Replacing that with USDH would be a monumental shift, redirecting hundreds of millions of dollars in annual Treasury yield to the winning protocol.

The contenders have come to the table with lavish promises to woo the validators. Paxos has pledged 95 percent of its earnings to buy back Hyperliquid’s native HYPE token.

Frax has promised 100 percent of its yield directly to users. Agora has offered 100 percent of its net yield alongside institutional-grade custodianship.

With Hyperliquid already commanding nearly 80 percent of the decentralized perpetuals trading market, the winner of this contest will not just be minting a stablecoin; they will be forging a new, foundational rail for the future of decentralized finance.

Market updates

• BTC: Bitcoin is trading at 114,053 dollars, up 2.6 percent in the past 24 hours. The move reflects a short-term rebound fueled by positive risk sentiment, even as a longer-term consolidation continues.

• ETH: Ethereum is trading at 4,373.99 dollars, up 2 percent, as investors shrug off a recent mass-slashing event that penalized over 30 validators, a sign of the network’s underlying resilience.

• Gold: Gold is holding near 3,635 dollars an ounce after hitting a peak of 3,674 dollars on Tuesday. Investors are awaiting U.S. inflation data, while the investment bank ANZ has raised its year-end gold target to 3,800 dollars, seeing a potential peak near 4,000 dollars by next June.

The post Native Markets takes an early lead in the vote for Hyperliquid’s USDH stablecoin appeared first on CoinJournal.

• Mantle price jumps to near all-time high as volume spikes 50%
• This comes amid integration of HyperEVM via LayerZero, enhancing MNT’s utility across blockchains.
• MNT is only 4% away from its ATH reached in April 2024.

Mantle (MNT), the native token of the Mantle Network, has skyrocketed by 17% in just 24 hours to hit $1.50 as bulls target a new all-time high. MNT also popped to a new all-time high in terms of market cap, gaining amid major Bybit announcement.

This has caught the attention of crypto investors as Mantle volume surges 50% to signal  growing interest in Mantle’s ecosystem.MNT’s price gain is largely fueled by recent technological advancements and strategic partnerships.

What catalysed the MNT price surge?

Mantle’s latest price spike came alongside gains for other cryptocurrencies as Bitcoin surged to above $114k. However, MNT’s spike can be attributed to a series of developments within the Mantle ecosystem.

A key driver is the integration of MNT with HyperEVM via LayerZero’s Omnichain Fungible Token standard, enabling seamless cross-chain mobility. 

This move expanded MNT’s utility, allowing it to operate across multiple blockchain networks, enhancing its appeal to developers and users. Also, Mantle’s focus on low-cost, high-speed transactions has attracted decentralized finance (DeFi) projects, boosting on-chain activity.

The broader cryptocurrency market has shown bullish signals, but Mantle’s performance stands out with its 17% surge pushing the MNT market cap to an all-time high of $4.8 billion. 

Mantle’s trading volume also increased as investors looked to capitalize on Bybit’s listing of 21 new MNT trading pairs.

Bybit also announced a reward program for Mantle holders. The market’s positive response to Mantle’s technological advancements and partnerships signals strong investor interest. As well as price action, Mantle’s total value locked has surpassed $1.8 billion, signaling traction across DeFi.

🚀 $MNT is leveling up on Bybit! @Mantle_Official

We’re listing 21 new MNT trading pairs on Spot — unlocking more ways to trade, hedge & discover opportunities with Mantle’s growing universe.

Stay tuned as more pairs roll out.

Learn More: https://t.co/WCWIDaG0Cl pic.twitter.com/vROWHz9zw2

— Bybit (@Bybit_Official) September 9, 2025

What’s next for Mantle price?

Mantle’s trajectory depends on its ability to sustain ecosystem growth and navigate market dynamics. This includes its partnership with LayerZero and potential new integrations which could further enhance MNT’s interoperability, attracting more DeFi and NFT projects.

Upcoming developments may also indirectly boost Mantle’s visibility in the layer-2 space,despite analysts warning that macroeconomic factors, such as regulatory shifts or broader market corrections, could impact MNT’s price.

With its robust infrastructure and growing adoption, Mantle price could hit a new ATH and target $2.00 or higher.

As the ecosystem evolves, MNT’s price movements will likely reflect its ability to deliver on technological promises and maintain investor confidence. Currently, the technical setup supports MNT price surge.

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• Binance.US slashes fees to 0% maker, 0.01% taker on 20+ crypto pairs, including ETH and ADA.
• Exchange volume share fell to 0.20% after the SEC lawsuit, down from around 10% last year.
• Fee cuts aim to win back traders in a US market now led by Coinbase and Kraken.

Binance.US, the American affiliate of global crypto exchange Binance, has cut fees on more than 20 trading pairs as it struggles to revive activity on its platform.

The exchange announced it will now offer 0% maker fees and 0.01% taker fees across the pairs, including Ethereum, Solana, BNB, and Cardano.

The updated fee schedule does not require any subscription or minimum trading volumes.

Maker fees apply to orders that provide liquidity by resting on the order book, while taker fees apply to orders that immediately match against existing orders.

As part of the change, Binance.US also expanded its “Tier 0” pricing model to include more than 20 additional pairs.

All Tier 0 pairs, including BTC/USD — which replaces BTC/USDC — now carry a 0.01% taker fee while maintaining 0% maker fees.

The Tier 0 structure was first introduced in 2022 with bitcoin trading pairs, a move that temporarily boosted trading volumes at the time.

Binance.US is aiming for a similar effect with its latest effort to reset pricing in a market where it has lost significant share.

Market share plunge since SEC case

Trading activity on Binance.US has declined sharply since mid-2023, when the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao.

In June 2023, the exchange suspended US dollar deposits and withdrawals, leaving it to operate solely as a crypto-to-crypto venue.

The absence of fiat rails contributed to a steep decline in volumes.

According to The Block’s Data Dashboard, Binance.US’s share of US dollar–supporting exchange volume has fallen to just 0.20% as of August, compared with roughly 10% prior to the SEC’s action.

Although the SEC dropped its case against Binance and related entities in May, trading activity has remained subdued.

Earlier this year, Binance.US restored dollar deposits and withdrawals for the first time in nearly two years.

However, the move has yet to translate into meaningful increases in trading volume.

Chris Blodgett, chief operating officer of Binance.US, declined to provide reasons for the continued low activity but reaffirmed the company’s broader strategy.

“We look forward to continuing our mission of building the best and safest digital asset trading experience in the US with high liquidity and tight spreads for even better price discovery and the best possible value,” he said.

Fee cuts aim to regain competitive edge

The latest pricing changes represent another attempt by Binance.US to regain relevance in a US crypto market now dominated by Coinbase and Kraken.

By lowering fees to near-zero levels, the exchange is seeking to re-establish itself as the country’s lowest-cost trading venue.

Whether that strategy alone will succeed remains uncertain.

The broader US regulatory environment has become more accommodating to crypto, with several high-profile cases against major crypto firms — including Coinbase, Uniswap, and OpenSea — recently dismissed.

Binance and Zhao, meanwhile, agreed to pay more than $4 billion last year to resolve a Justice Department probe into Bank Secrecy Act violations.

For Binance.US, the new fee cuts highlight an effort to stabilize operations and rebuild trust with users after a challenging period.

While low-cost trading may attract some participants back to the platform, sustaining growth will depend on broader market dynamics and the company’s ability to navigate the shifting US regulatory landscape.

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• Bitcoin’s volatility has compressed to multi-month lows near 111,000 dollars.
• The market is bracing for US CPI data and the Federal Reserve’s rate decision.
• Prediction markets show an 82% chance of a Fed rate cut on September 17.

An unnatural, almost unsettling calm has descended upon the cryptocurrency market.

Bitcoin is pinned, trading in one of its tightest ranges in months near 111,000 dollars, its volatility compressed to multi-month lows.

But this is not the quiet of stability; it is the tense, electric stillness that precedes a storm. Traders know the lull is temporary, a collective holding of breath before two powerful, market-moving events arrive to unleash the next decisive move.

The entire financial world is now focused on a two-part drama: the release of September’s US inflation data, followed by the Federal Reserve’s high-stakes interest rate decision a week later.

The outcome of these events will not just influence stocks and bonds; it will likely break the crypto market’s fragile trance.

The coiled spring: a verdict awaits

The market has already placed its bet. On the prediction market Polymarket, traders are assigning a commanding 82 percent chance of a quarter-point rate cut from the Fed on September 17.

But beyond that single, seemingly certain event, the path forward fractures into deep uncertainty. October expectations are a coin toss, with nearly even odds for another cut or a pause.

This divergence is the very definition of a coiled spring, a setup that explains why the current absence of volatility is so deceptive.

This is a market waiting for a signal, and the signal is coming.

“Markets often look calm just before they move. Bitcoin is trading in one of its tightest ranges in months, and volatility across crypto has compressed to multi-month lows,” said Gracie Lin, CEO of OKX Singapore. 

“With US inflation data like Core CPI out on Sept. 11 and the Fed’s much-anticipated rate decision just ahead, this quiet period is setting the stage for the next decisive move… history shows the market will find its next direction soon enough.”

The real trade: will a flood of capital be unleashed?

While the Fed’s decision will grab the headlines, the real, multi-trillion dollar question is what happens next.

According to the market maker Enflux, the pivotal trade is not about the cut itself, but about whether it finally pushes the mountain of cash currently sitting on the sidelines into riskier assets like crypto.

“The real debate now is not if cuts come, but whether liquidity deployment shifts into BTC, ETH, and even riskier assets,” the firm told CoinDesk.

This is the central tension gripping the market. The specter of a dovish Fed is already sending traditional safe havens like gold soaring to record highs.

Yet, Bitcoin remains stuck. If the Fed delivers, will that be the catalyst that finally unlocks a wave of new capital and fuels the return of the volatility that traders crave?

The quiet is about to end, and the market is about to get its answer.

The post Why the crypto market is bracing for a violent move appeared first on CoinJournal.

• Cboe to launch continuous BTC and ETH futures on Nov. 10, pending regulatory approval.
• Continuous futures last up to 10 years, removing frequent contract rollovers for traders.
• Cboe expects new products to attract both institutions and retail crypto derivatives traders.

Cboe Global Markets announced plans to launch new “Continuous futures” for bitcoin (BTC) and ether (ETH), with trading expected to begin on November 10, pending regulatory approval.

The products are designed to resemble perpetual futures contracts that are widely traded on offshore exchanges, but with adjustments to align with US regulatory requirements.

What sets continuous futures apart

Unlike traditional futures, which require frequent rolling as contracts near expiration, Cboe’s Continuous futures are structured as single contracts that can last up to 10 years.

This design is intended to simplify position management for traders by removing the need to roll over contracts at regular intervals.

According to Cboe, the contracts will be cash-settled and linked to real-time spot market prices.

They will incorporate daily cash adjustments, supported by a transparent and replicable funding rate methodology.

This approach is aimed at creating a stable and reliable trading instrument for both institutional and retail participants.

Bringing perpetual-style futures to US markets

Catherine Clay, Global Head of Derivatives at Cboe, highlighted the growing popularity of perpetual-style futures in offshore markets.

She noted that Cboe’s introduction of a similar product within a regulated US framework would provide traders with greater confidence.

“Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our US-regulated futures exchange and enabling US traders to access these products with confidence in a trusted, transparent, and intermediated environment,” Clay said in a statement.

The contracts will be cleared through Cboe Clear US, a derivatives clearing organization regulated by the Commodity Futures Trading Commission (CFTC).

This ensures that the products fall under the oversight of US financial authorities, addressing one of the main concerns around offshore perpetual futures.

Cboe’s broader push into digital assets

Cboe, originally known as the Chicago Board Options Exchange, was the first US exchange to offer bitcoin futures in 2017.

However, the company suspended new contracts about two years later as the crypto market downturn reduced demand.

With the recent resurgence in digital assets and renewed bullish momentum in the market, Cboe has re-energized its efforts to expand crypto-related offerings.

The exchange has been particularly active in pursuing listings of exchange-traded funds (ETFs) tied to digital assets.

The addition of Continuous futures for bitcoin and ether reflects its strategy of broadening crypto derivatives available to US traders.

Clay added that Cboe expects the new products to attract a wide range of participants.

“We expect Continuous futures to appeal to not only institutional market participants and existing CFE customers, but also to a growing segment of retail traders seeking access to crypto derivatives,” she said.

By providing long-dated, perpetual-style contracts within a US-regulated environment, Cboe is positioning itself to capture both institutional and retail demand in the rapidly evolving crypto derivatives market.

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