Crypto News

EDX Markets plans to offer institutional spot trading of Verified Bitcoin (vBTC), a programmable asset issued on VerifiedX’s layer-two network. EDX will also become a network validator, participating in transaction verification and governance. VerifiedX says each vBTC is backed one-to-one by Bitcoin (BTC) and can be redeemed for native BTC; the underlying Bitcoin is held in self-custodial addresses. The partnership could support BTC–vBTC trading and arbitrage, liquidity provision, treasury transfers, lending, payments and applications on VerifiedX. A related token, vBTC.b, is designed to bring vBTC into supported EVM environments while preserving a redemption route to Bitcoin. The deal adds access to EDX’s institutional client base, and VerifiedX says it has custody arrangements with BitGo. VerifiedX also raised $15 million in September 2026. EDX is backed by Citadel Securities, Virtu Financial and Fidelity Digital Assets. The announcement did not give a launch date or expected trading volumes, so the direct near-term effect on BTC demand remains uncertain.

Anthropic plans to spend $518 billion on cloud and computing capacity over the next decade through non-cancelable commitments involving Google, Amazon and Microsoft. An earlier report said more than $100 billion was committed to Amazon Web Services, including access to its Trainium and Graviton chips. The spending is intended to support Claude’s development and strengthen Anthropic’s position in the AI sector. The latest report also says Anthropic raised $65 billion in a Series H round at a $965 billion valuation, after reporting a significant financial loss in 2025. The plan has no direct cryptocurrency link. For crypto traders, its relevance is indirect: it may shape sentiment around technology investment and demand for computing infrastructure, but does not on its own signal a change in crypto prices.

Pi Network (PI) has weakened since trading near $0.087 on Oct. 6, falling to about $0.0785 by Oct. 8 and losing the $0.080 level. The token is down roughly 10% over the week and is now testing the $0.075–$0.080 support zone, which analyst Crypto With Gopal considers important to a potential double-bottom pattern. A break below this range would undermine the setup and could bring the weekly Bollinger lower band near $0.0603 into focus. Technical signals remain bearish: PI is below its major moving averages and the weekly Bollinger midpoint at $0.10151, while the daily MACD is below zero and Supertrend resistance sits near $0.09267. The proposed double-bottom neckline is at $0.105–$0.110. Analyst targets of $0.14 and $0.21–$0.22 remain conditional on a confirmed breakout above that range; losing the $0.075–$0.080 support would weaken the bullish case. Pi Network’s Protocol 28 testnet upgrade is complete. Node operators must upgrade by Oct. 13 ahead of a planned mainnet upgrade on Oct. 16. The update is intended to improve delayed transaction-data handling and make smart-contract and application-data updates safer. While the upgrade may serve as a project catalyst, PI’s near-term price outlook depends primarily on whether it can hold support and recover resistance.

Bitcoin, Ethereum and XRP have each flashed a four-hour TD Sequential buy signal after sharp declines. The signals may indicate short-term selling exhaustion, but they do not confirm a market bottom. Traders are waiting for buying pressure and key price levels to confirm a rebound. Bitcoin fell 5.55% from its October 5 high of $86,976. Glassnode identified support at $81,700–$83,300, with major Binance bids near $81,000. A later analysis said BTC could dip to $80,500–$82,000 and needs to reclaim $82,500; a recovery could bring $87,000 into focus. Weak spot and US spot ETF volumes have clouded confidence in the rally, although Santiment reported net exchange outflows of 24,073 BTC on October 5, a seven-month high. Ethereum dropped 7.36% from $2,738 and was trading around $2,529–$2,537. Analysts cited $2,550 as major support, while elevated open interest and negative funding on some exchanges raise the risk of sharp moves in either direction. If buyers gain strength, Ali Charts is watching $2,620 and $2,650. XRP fell from about $1.53 to around $1.39–$1.41 and is testing four-hour trendline support. Traders are watching $1.40 and $1.37, with $1.32–$1.27 possible if support breaks; a sustained recovery would require reclaiming $1.55–$1.60. An oversold MACD may reflect extended selling, but does not guarantee a reversal. The three buy signals remain unconfirmed, leaving the assets vulnerable if support fails. Federal Reserve minutes showed most officials considered another rate increase appropriate by year-end, while the upcoming US inflation report could affect risk appetite.

The Cardano Foundation has spun out Veridian as an independent Swiss digital identity company after three years of development. Veridian has tokenized most of its 1 million shares on Cardano, making them the first assets to use the CIP-0113 programmable-token standard. The shares are ledger-based securities under Switzerland’s DLT Act and are not being offered to the public; Veridian plans to seek strategic investors in 2027. CIP-0113 lets issuers define transfer rules and, where required, freeze or seize tokens. The standard is live on Cardano mainnet and needs no hard fork, but it does not automatically impose controls on ADA or ordinary native tokens. Veridian’s shares offer a live use case for regulated tokenized securities. Veridian develops digital credentials that let individuals, businesses and AI agents prove identity or authority without relying on a central database. Its mobile wallet is available on iOS and Android, and its tools support Cardano-based AI agent network Masumi. Veridian says it has mapped the 142 requirements in Utah’s state-endorsed digital identity guide. The spinout adds commercial activity around Cardano digital identity and tokenized assets, but does not announce a direct change to ADA’s economics or a near-term investment commitment.

Status has released version 2.39 for its desktop and mobile app, adding more reliable community messaging with delivery confirmations through the Scalable Data Sync protocol. Status 2.39 also brings a unified Swap & Bridge interface for moving and exchanging tokens across supported networks, with quotes routed through Relay, and support for Robinhood Chain, including token and NFT transfers, swaps and dApp access. Other changes include mobile Incognito browsing and file downloads, redesigned Keycard flows, French, Czech and Ukrainian translations, and Logos Storage support for retrieving community message archives. The update also improves mobile performance and peer-to-peer connection visibility. Users on version 2.36.1 or earlier need to upgrade to communicate properly with users on the new release. The announcements provide no launch metrics or new token details; the update’s market relevance is chiefly its expanded app functionality and chain support.

ICANN received 1,615 applications in its latest round of generic top-level domains (gTLDs), with AI-related names attracting strong interest. The .agent domain drew 13 applicants, including OpenAI, Meta, a Google-affiliated registry and iPollo. OpenAI applied for 15 domains, including .gpt and .chatgpt, while Anthropic applied for .claude. Applicants also sought crypto-related domains such as .btc and .bnb. The ICANN applications point to competition for digital identity, but application numbers alone do not demonstrate adoption of the associated companies or cryptocurrencies. The news has no clear direct effect on BTC or BNB prices or their fundamentals.

Marvell Technology raised its fiscal 2028 revenue outlook to about $20 billion, up from roughly $18 billion in August, and set a fiscal 2031 target of $70 billion to $90 billion at its October 6, 2026 Investor Day. Management expects data centers to contribute 90% of fiscal 2028 revenue; the top 2031 target would be about 11 times fiscal 2026 revenue. Marvell says all five major US hyperscalers use its products to connect data centers and estimates its potential market at about $400 billion by 2030. Acquisitions and planned deals, including Celestial AI, XConn and Polariton, are broadening its offerings in optical connectivity, memory-sharing switches and related technology. Management expects strong growth in optics connecting processors within AI systems from fiscal 2028, while plasmonics products remain several years away. Marvell shares rose 6% after the event. The outlook underscores expectations for continued AI infrastructure investment and may support sentiment across semiconductor and data-center stocks, but the targets are long-term projections dependent on sustained demand and spending. There is no direct cryptocurrency catalyst in the announcement.

Quantus launched its proof-of-work mainnet on 9 September 2026, promoting post-quantum security, privacy and zero-knowledge proofs. The blockchain uses NIST-selected ML-DSA (Dilithium) signatures and combines STARK proofs with Plonky2 to aggregate transactions and reduce the on-chain burden of larger post-quantum signatures. Its “Wormhole” addresses are designed to obscure the direct link between sending and receiving addresses. Since launch, Quantus has reported more than 8,400 active accounts and 260,000 transactions, and integrated with NEAR Intents to enable cross-chain swaps into QTC. The project raised about $2.42 million across two rounds; Balaji led the second, with AngelList co-founder Babak Nivi and Helius founder Mert among the participants. Investor links to Zcash and renewed interest in quantum risks and privacy coins have drawn comparisons, though the projects use different privacy mechanisms. QTC tokenomics remain a key concern for traders. The project says 27% of QTC was minted at genesis: 23% allocated to investors, founders and the team, and 4% to the company. Much of this allocation is locked for a year and then released over 36 months, potentially adding future selling pressure. The post-quantum and privacy narrative may support short-term interest, but adoption, liquidity, technical performance and token unlocks remain important risks.

Rein Security has raised $25 million in a Series A round co-led by Glilot Capital and Sienna Venture Capital, with Corner Ventures, Atlacle and RNP Capital Advisors also participating. The funding brings the New York- and Tel Aviv-based AI security company’s total raised to $35 million. Rein Security monitors the code used by enterprise AI agents and the resources they access, allowing businesses to govern activity and block harmful actions in real time. Since launching its product in January 2026, the company says revenue has grown eightfold and its customer base fivefold, with its platform protecting thousands of agents across finance, healthcare and retail. It plans to use the new capital for product development, AI security research and global hiring. The deal reflects investor interest in enterprise AI security, but has no stated direct impact on cryptocurrency prices or markets.

Ripple Custody version 1.43 adds support for Canton Coin (CC) and CIP-56 tokens on the Canton Network, allowing institutions to hold and transfer these assets through the platform. The October 5 update brings Canton assets under Ripple Custody’s existing policy controls and audit trail, with options for transfer pre-approvals and two-step transfers. Institutions can connect through a validator they operate or obtain from a node operator. Signing keys are managed through clients’ hardware security modules (HSMs) or key management systems (KMS), and the new functionality is currently available through API access only. The expansion takes Ripple Custody beyond XRPL-based assets, but does not establish that Canton uses XRP, XRPL or RLUSD, or that Canton and XRPL are interoperable. For traders, it signals growing institutional demand for multi-network custody and tokenization infrastructure, rather than a direct change to the supported tokens’ fundamentals.

Abstract, the Ethereum Layer 2 network backed by Pudgy Penguins parent company Igloo, plans to shut down on 15 December after nearly two years. Igloo reportedly spent 18 months funding the project and incurred losses of tens of millions of dollars. The closure follows Blast’s shutdown announcement and adds to pressure on Layer 2 networks to prove they can operate sustainably. Abstract reported more than 400,000 users, 144 applications and over 325 million transactions; an earlier account also cited more than 4 million wallets and 3.25 million transactions. These headline figures do not establish how many users were active or generated enough fees to cover costs. DeFiLlama data cited in the later report put Abstract’s total value locked at about $5.6 million and its stablecoin supply at around $4.7 million, indicating limited DeFi activity and liquidity. High operating costs, limited institutional participation and an unclear product-market fit were also cited as challenges. Igloo chose not to issue an Abstract token or hold an ICO, with CEO Luca Netz arguing that a token should have genuine demand. The decision drew mixed reactions: some praised the team for avoiding a token launch, while users who had spent money and time on the network said they had expected rewards. For traders, Abstract’s shutdown underscores that user and transaction counts alone do not guarantee sustainable fee revenue. It may intensify scrutiny of Layer 2 business models, while networks with stronger distribution or established DeFi liquidity may be better positioned.

Ethereum co-founder Vitalik Buterin says AI-accelerated mathematical research could eventually weaken cryptographic systems such as ECDSA, but there is no public evidence that AI has broken Bitcoin or Ethereum wallet signatures. The concern is that AI could help researchers find mathematical methods that make attacks cheaper—not that it can simply guess private keys. Buterin says users should not rush to move funds, as hurried wallet migrations can create operational risks. The warning followed Ethereum researcher Justin Drake’s call for large holders to prepare for “bunker mode” by moving funds to addresses that have not revealed their public keys. Coinbase cryptography head Yehuda Lindell said there is no evidence elliptic-curve cryptography is close to being broken. Buterin called for reducing long-term exposure to vulnerable cryptography, while Ethereum explores hash-based signature schemes such as leanXMSS and SPHINCS-type approaches. He also noted that post-quantum systems, including lattice-based cryptography, may need reassessment if AI speeds up mathematical breakthroughs. For traders, AI-related Ethereum wallet security is a long-term research concern, not a confirmed or immediate threat to ETH or BTC prices.

Dogecoin traded near $0.0933 on October 4, holding around key moving-average support but below resistance. By October 8, it had fallen to about $0.0878, below $0.09. The shift puts short-term support at $0.0871–$0.0887; a break lower could expose $0.0845 and then $0.0800–$0.0820. A recovery would face resistance at $0.0920–$0.0932, $0.0950 and $0.0974–$0.0980, with $0.10–$0.1020 the broader breakout zone. Earlier, DOGE needed to clear $0.0937 and $0.0986 to strengthen the case for a $0.10 retest. Short-term indicators are mixed: hourly RSI and moving-average signals are bearish, while the volume-trend score is bullish at 74/100. The daily outlook is neutral. On October 4, DOGE’s RSI was also neutral to moderately positive, but there was no confirmed breakout. A move to $0.10 before October 14 remains possible, not confirmed by current signals. Bitwise plans to stop trading its BWOW Dogecoin ETF on NYSE Arca on October 14 and distribute cash to remaining shareholders around October 22. The fund reportedly had about $688,000 in net assets, limiting the likely direct selling pressure on DOGE, although the closure could weigh on sentiment. DogeOS launched an EVM-compatible public testnet on September 30 for applications such as trading, lending and games, with DOGE intended for fees. It may support longer-term utility, but its near-term price impact is uncertain.

Pi Network has weakened further since trading near $0.0865 on Monday: by Thursday, PI was around $0.0823, down about 1% on the day after seven consecutive daily declines and a 7% drop the previous day. The latest update shows futures open interest down about 14% to $8.94 million, reversing an earlier increase to $10.15 million. Falling open interest may reflect lower prices, closed positions or liquidations, but does not reveal traders’ directional positions. Social dominance also edged down to 0.13%, offering little evidence that attention is bringing in buyers. Technical signals remain bearish. PI trades below its key moving averages, with the 50-day EMA near $0.0902; RSI has weakened from about 43 to 38, and MACD remains negative. Initial resistance is at $0.0827. A sustained recovery above it could bring the 50-day EMA into focus. Support is near $0.0801, with a break potentially exposing $0.0704. The latest decline in open interest may reduce leveraged exposure, but PI’s rebound remains tentative unless it holds support and reclaims resistance.

Bitcoin fell from above $86,000 to below $84,000 after failing repeatedly to break through $87,000, briefly touching $83,600. It later sank to $82,200, its lowest level in 17 days, before recovering to around $83,000. The decline reversed a short-lived rally following weaker-than-expected US jobs data. Bitcoin’s market capitalisation stood at about $1.66 trillion, with dominance near 59%. Selling spread across major altcoins. Ethereum fell from below $2,600 to $2,560, while XRP slipped from $1.46 to $1.41. Solana traded near $115; DOT, UNI and MNT also recorded sharp losses in the earlier market move. In the later update, ZEC fell 6% to $1,240, while BTW gained more than 11% and JUP, RAY, CRV and ALGO posted double-digit gains. The total crypto market value first fell by more than $60 billion to $2.85 trillion, then dropped from $2.92 trillion to $2.81 trillion over roughly 36 hours. Bitcoin’s repeated failed breakouts and the wider sell-off indicate short-term pressure, although gains in some tokens show that performance remained mixed.

Federal Reserve Governor Christopher Waller said further Fed rate hikes may be needed if economic data meet expectations, but the central bank does not have to raise rates at consecutive meetings. He said any increases should come within a reasonable timeframe, while the pace remains flexible and data-dependent. Waller cited US inflation staying above the Fed’s target for about five and a half years. AI infrastructure spending and ongoing energy shocks could keep inflation elevated and risk lifting inflation expectations. September’s labour market remained resilient despite fewer new jobs, and signs point to a stronger US economy in the second half of 2026. Waller said the Fed can signal its policy options without giving firm forward guidance. The prospect of further Fed rate hikes could tighten financial conditions and weigh on crypto prices by reducing risk appetite. Traders are likely to remain sensitive to inflation, employment data and Fed comments, although the timing and pace of any moves are uncertain.

Bitcoin rose 42% in the third quarter of 2026, recovering from July lows despite higher oil prices, renewed inflation concerns, a Federal Reserve rate increase and rising Treasury yields. Its price tracked the Nasdaq more closely than gold, underscoring Bitcoin’s sensitivity to interest rates and risk appetite. US spot Bitcoin ETF flows turned positive in September, supporting demand, while declining stablecoin supply and lagging altcoins suggested the rebound was concentrated rather than a broad crypto-market recovery. Crypto trading activity also picked up from July. Binance’s USDT-margined perpetual volume reached $1.61 trillion in September, while Hyperliquid’s crypto perpetual volume climbed to $188.4 billion. Stock-linked real-world asset (RWA) perpetual contracts were a major source of industry trading growth. Activity on new company-backed chains remained mixed. Robinhood Chain’s total value locked reached $1.12 billion by the end of September, but meme tokens and launchpad activity remained prominent; tokenized stocks represented about 6% of TVL in one estimate. Circle’s Arc network, launched with traditional finance and payments firms among its validators, saw activity focused mainly on USDC transfers and lending, while meme tokens featured among its most-traded assets. Across the market, tokens linked to protocol revenue and buybacks outperformed many altcoins. The latest figures reinforce a recovery led by Bitcoin and ETF demand, but its exposure to equity sentiment, rates and oil prices remains a risk for traders.

79thVault suffered a suspected private-key compromise on BNB Chain on 7 October, with losses estimated at about $12.5 million. In seven transactions over roughly an hour, the project’s operator wallet moved 2.01 million 79AU from the PancakeSwap 79AU/USDT pool. The tokens were then sold back into the pool, cutting its USDT reserves from about $15.2 million to $3.9 million. The attacker moved 16,249 BNB, worth around $12.5 million, to another address. Security monitor Defimon said the 79AU contract included an operator-only function that could remove tokens from the liquidity pool. The activity suggests the attacker may have controlled the operator’s private key, though insider involvement was also raised as a possibility. The project reportedly revoked OPERATOR_ROLE and offered a 10% bounty for the return of remaining funds through a message signed with the same operator key. The suspected 79AU exploit puts the token’s liquidity and the project’s wallet and contract controls under scrutiny; the immediate market impact appears concentrated on 79AU and its pool.

NEAR rose about 138% in 30 days and reached the top 20 cryptocurrencies by market capitalisation, overtaking Stellar (XLM). It traded near $5.51 on Thursday, up about 7% in 24 hours, with a market value of roughly $7.2 billion and daily volume around $1.2 billion. NEAR Intents, a cross-chain trading protocol, has reported cumulative transaction volume above $31 billion; an earlier report put the figure above $33 billion across 35 chains. Bitwise launched a US-listed NEAR investment product on Sept. 29, adding a potential source of investor interest. However, NEAR faces technical resistance around $5.50–$6, with support near $4–$4.60. Its daily RSI was about 68, while elevated futures open interest pointed to strong derivatives activity but not a clear price direction. A recent $3.8 million exploit affected NEAR Intents’ deposit and withdrawal infrastructure. The project said the vulnerability was fixed, and General Manager Alex Shevchenko said the stolen funds had been returned on Oct. 2. The incident did not compromise the NEAR blockchain or token, but remains a risk for traders.

Analyses of meme coins from the Solana-led boom point to brief rallies and prolonged declines. A sample of 150 tokens with centralised-exchange price data reached all-time highs a median of 17.2 days after first trading; one quarter peaked within 1.6 days. After a peak, the median time to a 95% drawdown was 370 days, while half completed the journey from launch to that decline within 456 days. More than half of the tokens were at least 95% below their highs. Of 151 tokens assessed against their first-day prices, only five were still above that level, and most were worth about 10% of their initial value after 300 days. Around 81% fell at least 90% from their peak, and only 3% of that group later regained its high. Active addresses for leading Solana meme coins also dropped to less than 7% of peak levels. The reports differ in their attribution of the analysis, naming Talos and CoinMetrics respectively. The samples rely on tokens with centralised-exchange data, so they may overstate the typical lifespan of meme coins; results also depend on the drawdown threshold used. For traders, the findings underline the risk of sharp meme coin rallies reversing into extended losses. The data may also signal fading activity in Solana’s meme coin ecosystem, but do not by themselves establish a direct price outlook for SOL.

A suspected HYPE whale has transferred 131,421 HYPE to Kraken since 28 September, worth about $11.77 million at the reported average deposit price of $89.56. Based on an estimated cost basis of $3.87 per token, selling at that price would yield an estimated $11.26 million profit, or a 2,214% return. The transfers may signal selling pressure, but no completed sale has been confirmed. The first suspected transfer came before Hyperliquid Labs announced on 30 September that it had sold 3.75 million HYPE, worth about $329 million, over the counter to a single institutional buyer that was not expected to sell on public markets. Two further suspected transfers reportedly followed, including one shortly before the report. Traders may watch Kraken flows for signs of HYPE selling, while treating the wallet’s intentions as unconfirmed.

WalletConnect Core 2.26.0 adds optional SDK identification to `eventClient.init()`. SDKs built on WalletConnect Core, including WalletKit, can supply their name and version, which are recorded as `sdk_name` and `sdk_version` in the INIT event alongside the existing core user-agent data. The release also updates `@walletconnect/utils` and `@walletconnect/types` to version 2.26.0. This WalletConnect Core update improves SDK-level analytics and attribution, but introduces no token, protocol change or market-facing product launch.

Kyrgyzstan has ordered the liquidation of EVA, issuer of the gold-backed USDKG stablecoin, and state-owned crypto exchange Coin Nomad Exchange. The move ends operations for USDKG, which launched in November 2025, was pegged to the US dollar and ran on the Tron blockchain. More than 50 million tokens had been registered for issuance; CoinGecko later listed about 50 million in circulation at close to $1, with 24-hour trading volume of roughly $22,955. The project says USDKG holders can request redemption in fiat currency or USDT by contacting it through its official email. It has not provided a deadline or detailed redemption terms, leaving uncertainty over how many holders will seek to redeem. The shutdown follows UK sanctions imposed on EVA in May under Britain’s Russia sanctions regime. The UK cited suspected business of economic significance to the Russian government, but did not allege that USDKG itself was used to evade sanctions. Coin Nomad had separately begun voluntary liquidation in September, with its creditor-claim period expected to end around 14 October 2026. The developments put USDKG redemptions and the token’s continued market support in focus.

DeepSeek is reportedly seeking at least $12 billion in funding, potentially rising to $15 billion, with Tencent and CATL among its backers. After releasing its V4 Flash model, the company is planning an IPO in early 2027. The model is said to narrow the cost and performance gap with US rivals OpenAI and Anthropic, though DeepSeek’s ability to win enterprise customers remains a key question. Moonshot AI, developer of the Kimi chatbot, has completed a private funding round at a reported $50 billion valuation. It is targeting a Hong Kong IPO in the first quarter of 2027 that could raise up to $5 billion. Its annual recurring revenue is projected to reach $2 billion by December 2026. The fundraising race also includes OpenAI, which is seeking at least $30 billion at a reported $1.4 trillion pre-money valuation, and Anthropic, which is reportedly considering a November IPO at a valuation of about $2 trillion. These plans underline strong investor demand and intensifying China-US competition in AI, but funding, revenue and listing targets remain uncertain. For crypto traders, the news may influence broader risk appetite for technology and speculative assets, but it does not identify a direct catalyst for any specific cryptocurrency.

Solana stablecoin adoption reached a record 14.02 million holding addresses on 7 October 2026, up by more than 4 million since the start of the year and from fewer than 4 million at the end of 2024. Stablecoin supply on Solana exceeds $15 billion, though it has retreated from September’s record of $17.3 billion. Solana ranks third in stablecoin supply, behind Ethereum and Tron, while cumulative stablecoin-linked card transactions have topped $1 billion. The Solana Foundation launched an open-source, audited delivery-versus-payment (DvP) framework on 6 October. It is designed to settle tokenized assets and cash atomically in one transaction, reducing settlement risk. J.P. Morgan advised on institutional requirements, with tokenized stocks and funds among the framework’s intended uses. The growth in Solana stablecoin holders and payment activity suggests expanding network use, but addresses do not represent unique individuals. Traders may watch whether stablecoin supply recovers and whether institutions adopt DvP; these developments could support Solana’s longer-term utility, though their direct effect on SOL’s price remains uncertain.

Bitcoin-backed loans are increasingly funding real-world expenses rather than crypto trades, according to lenders. SALT Lending says borrowers use them for tuition, business working capital, home purchases and debt consolidation. The company reports originating more than $2 billion in Bitcoin-backed loans since 2016, with fixed one-, three- or five-year terms and APRs of 7.49% to 10.50%, depending on loan-to-value. SALT says it does not require credit checks or income verification and usually funds approved loans within 24 to 48 business hours. Its figures and claims, including that all pledged collateral has been returned, are company-reported and not independently verified. SALT operates in 47 US states and Washington, D.C., and says it is seeking licensing expansion in California and Nevada. The trend spans other lenders and products. Ledn says it has funded more than $11 billion in loans since launching in 2018 and serves institutional, wealthy and retail borrowers. Lenders are also working to make crypto-backed credit more predictable: Coinbase added fixed-rate USDC borrowing against Bitcoin through Morpho, complementing variable-rate loans. Morpho had more than $1.4 billion in outstanding loans backed by about $3 billion in collateral. Ledn has also pointed to lending against other hard assets, such as gold, as a possible next step. Bitcoin-backed loans let holders access cash without selling BTC, but carry interest costs and liquidation risk if Bitcoin prices fall. Broader use as collateral may support Bitcoin’s utility, though it does not by itself establish a near-term price direction.

Lookonchain first reported that trader Machi held a 39,000 ETH long position worth about $99.8 million, with liquidation at $2,501.38 per ETH. A later report put a crypto whale’s ETH long position at 98,089 ETH, worth about $252.3 million, and cited liquidation levels of $2,446.48 and $2,424.47. The later figures indicate a larger reported position and lower liquidation thresholds, but the reports do not confirm whether they concern the same account. ETH liquidation risk may draw traders’ attention to downside levels: forced closures could add selling pressure, though neither report gives the current ETH price or confirms a liquidation has occurred.

Bitcoin weakened from around $84,123 to $83,366, falling below the $85,000 recovery threshold as rising Treasury yields, oil prices and a stronger US dollar pressured crypto markets. The 10-year Treasury yield climbed to about 5.36%, while oil remained above $100 a barrel amid reports that Iran had closed the Strait of Hormuz. Crypto liquidations rose 235% to $547 million in 24 hours, mostly affecting leveraged long positions. Bitcoin is now only about 1.3% above the estimated $82,300 average cost basis of US spot Bitcoin ETF buyers. A daily close below that level could bring the next on-chain support near $73,500 into focus. ETF flows have shifted: after $148.7 million in outflows ended a nine-session inflow streak, spot Bitcoin ETFs recorded $119 million in inflows on Tuesday, even as Bitcoin fell. Traders are watching whether buyers hold near breakeven or sell. A large sell wall around $85,000–$85,500 remains a near-term hurdle; Friday’s US payrolls report and further changes in yields and energy prices could add volatility. Ethereum fell to $2,568, with spot Ether ETFs logging a sixth consecutive day of outflows and about $408 million in cumulative withdrawals. This follows earlier reported daily outflows of $59.6 million. Bitmine, which holds 6.02 million ETH, says it plans to stop buying when its holdings reach 5% of supply. Cardano fell despite launching a mainnet token standard for regulated assets, which has not yet been adopted by an issuer; earlier reports also noted whale selling and Petrobras-related blockchain pilots. Solana, BNB and XRP also declined. For traders, persistent macro pressure and ETF selling pose downside risks, while sustained Bitcoin ETF inflows and a recovery above $85,000 could ease near-term selling.