Latest news with #BTCFi
Yahoo
08-07-2025
- Business
- Yahoo
Threshold's Bitcoin Backed tBTC Debuts on Sui, Unlocking $500M in Liquidity
Threshold Network's tBTC, an ERC-20 token backed 1-to-1 by bitcoin (BTC), debuted on Sui on Monday as Threshold looks to expand BTCFi in the Sui ecosystem. The collaboration enables users to deposit their BTC on Sui and mint tBTC, potentially adding over $500 million worth of bitcoin liquidity to the Sui network. It means users can deploy their BTC in the Sui-based DeFi to generate additional yield while seamlessly using tBTC across the ecosystem. "tBTC is expected to bring a massive amount of Bitcoin liquidity to Sui, creating a bridge that truly matters—not just for institutions but for everyday people who love Bitcoin,' Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, the original contributors to Sui, said in the announcement shared exclusively with CoinDesk. 'This new integration opens another door to accessible, sovereign BTCfi participation,' Abiodun added. BTCFi represents a full spectrum of decentralized finance applications built to work with bitcoin, aiming to enhance the cryptocurrency's appeal beyond the store-of-value narrative. Nearly 600 BTC, worth over $65 million, have been bridged to the Sui ecosystem since February, and BTC-backed assets account for more than 10% of the total value locked (TVL) in the SUI ecosystem. At press time, cryptocurrencies worth $1.83 billion were locked in the Sui-based DeFi, according to data source DeFiLlama. "Bitcoin was designed to be used, not locked away,' Callan Sarre, co-founder at Threshold Labs, said. 'With tBTC coming on Sui, we're combining the security of threshold cryptography with a high-throughput network to create a new standard for Bitcoin utility.' Home to tBTC, Threshold Network is a decentralized protocol that combines cryptography and blockchain infrastructure to provide secure and trust-minimized access to bitcoin DeFi. As of writing, tBTC had a market cap of over $570 million, with a circulating supply of 5,265 coins, according to data source Coingecko.
Business Insider
24-06-2025
- Business
- Business Insider
NAVI Protocol Partners with OKX to Launch xBTC Lending and Borrowing on Sui
New York, United States, June 24th, 2025, Chainwire NAVI Protocol, a leading DeFi platform on the Sui network, has entered an exclusive two-month partnership with OKX, one of the leading centralized exchanges in the industry, in collaboration with the Sui Foundation, to introduce xBTC lending and borrowing. This strategic alliance enhances the utility of xBTC, bringing innovative financial opportunities to users and reinforcing Sui's position as a hub for Bitcoin-based DeFi (BTCFi). The collaboration enables xBTC liquidity providers on NAVI to access borrow incentives for Sui and USDC, alongside liquidity provision rewards. These incentives are designed to boost xBTC asset composability, allowing users to maximize the utility of their BTC holdings through sponsored borrowing opportunities. This initiative drives higher utilization of xBTC on the Sui network, fostering deeper liquidity and enhanced user engagement. As part of the campaign, OKX will distribute SUI rewards through its OKX Earn program, while NAVI will allocate $500,000 in NAVX rewards to participants throughout the initiative. In addition, OKX is providing another $200,000 in SUI incentives for users who supply xBTC via OKX Earn and borrow assets on NAVI. These rewards aim to incentivize user participation and strengthen the ecosystem's growth. Campaign Timeline: June 24, 2025: Incentivized borrowing pools for xBTC open on NAVI Protocol. June 27, 2025: Incentivized borrows for USDC liquidity providers kick in. July 7, 2025: Incentivized borrows for SUI liquidity providers kick in. 'This partnership marks a significant milestone in establishing BTCFi as a cornerstone of the Sui network,' said NAVI co-founder Elliscope Fang. 'By collaborating with OKX and the Sui Foundation, we're empowering users with seamless access to xBTC lending and borrowing, unlocking new possibilities for liquidity and financial innovation.' This joint effort underscores NAVI's commitment to enhancing DeFi accessibility and positions Sui as a leading network for BTCFi. Users can participate in the campaign through NAVI's platform and OKX Earn, tapping into deep liquidity pools and exclusive rewards. About OKX OKX is an innovative cryptocurrency exchange with advanced financial services. As the second-largest platform by daily trading volume, it serves over 50 million users in 100+ countries, offering trading in 350+ cryptocurrencies and 500+ trading pairs. OKX provides spot, margin, futures, and options trading, alongside Web3 services like a self-custody wallet, NFT marketplace, and DeFi integration. About NAVI Protocol NAVI is the inaugural liquidity protocol native to the Sui network. It seeks to establish the cornerstone for chains based on the Move system and aspires to be the premier liquidity protocol in the Sui DeFi ecosystem. It has earned the trust of millions of users as the main lending, borrowing, and liquid-staking protocol built on Sui. NAVI delivers a secure, one-stop liquidity solution through time-tested innovations such as Automatic Leveraged Vaults, Asset Isolation Mode, and Flash Loans. Also building Astros and VOLO, the aggregator, Perp Dex and LST on Sui. Contact
Yahoo
30-05-2025
- Business
- Yahoo
SUI Price Prediction - What could affect SUI's future price?
Sui price prediction remains mixed as bearish pressure from a major exploit recovery and upcoming token unlocks weighs on sentiment, while bullish momentum builds from ecosystem expansion and growing institutional adoption. - Cetus DEX exploit ($223M stolen) weighs on sentiment but community recovery efforts mitigate damage - June token unlocks ($206M) risk increasing selling pressure - Technical indicators show weakening momentum near key $3.40 support. - BTCFi growth and ETF filings signal long-term institutional interest Sui faces sector-wide headwinds with crypto's Fear & Greed Index at 61 (Greed) and altcoins underperforming Bitcoin. However, its BTCFi sector now holds $300M in BTC, positioning Sui as a Bitcoin DeFi hub. Competitors like Solana and Aptos also face June unlocks, creating sector-wide liquidity tests. The May 22 Cetus Protocol exploit temporarily crushed SUI's price (-8%) and ecosystem tokens, but 90% validator approval for frozen asset recovery demonstrates crisis-response capability that could rebuild trust. MACD: Bearish crossover with histogram at -0.0798 RSI: Neutral at 47.09 (14-day) but below equilibrium Key Levels: Immediate support at $3.40 (200-day SMA + Fibonacci 61.8%). Break below risks test of $3.14 swing low Volume: 19% spike during May 30 flash crash shows vulnerability to whale moves The descending channel from May highs suggests resistance at $3.72-$3.88 needs to break for bullish reversal. June 2 Token Unlock: 58.35M SUI ($206M) enters circulation - equivalent to 1.75% of market cap ETF Developments: 21Shares/Nasdaq ETF filing under SEC review until Jan 2026 Mysticeti v2 Upgrade: Faster transaction finality could boost DeFi activity post-recovery Institutional Partnerships: Microsoft Fabric integration via Space and Time expands developer access Sui's price trajectory hinges on whether ecosystem growth outpaces unlock-driven selling and exploit fallout. The $3.40 support level and Cetus' recovery timeline (targeting full relaunch by June 6) are critical watchpoints. Will Sui's BTCFi momentum attract enough capital to offset June's $2.7B sector-wide unlock pressure? Sui price prediction is mixed, as bullish optimism driven by tech upgrades and institutional adoption contrasts with bearish concerns over centralization debates following the recent hack. Volatile price action reflects the market's uncertainty about SUI's short- to mid-term trajectory. - Ecosystem growth (BTCfi dominance, DeFi TVL ATH, institutional ETF filings) fuels bullish narratives. - Cetus Protocol hack ($223M exploit) sparks debates on Sui's decentralization and validator control. - Price volatility persists (-8% post-hack, +239% YoY) amid conflicting technical and fundamental signals. Bullish drivers dominate long-term sentiment:- Institutional adoption: Nasdaq/21Shares ETF filings, Athens Stock Exchange pilots, and Fireblocks custody support.- Tech momentum: Mysticeti v2 (faster consensus), Move VM 2.0 (30–65% speed boost), and Walrus storage protocol (725 TB filled).- DeFi growth: TVL hit $2.06B (+70% MoM), led by Suilend ($675M) and Cetus ($235M). Bearish pressures stem from short-term risks:- Cetus hack fallout: $SUI dropped 8% on May 22 after $223M exploit, though 90% of frozen funds are set for recovery.- Centralization critiques: Validators' ability to freeze assets triggered debates, with critics calling Sui 'a database with extra steps'. BTCfi expansion:- 10% of Sui's TVL now tied to Bitcoin DeFi via protocols like Babylon and Lombard, positioning it as a BTCfi hub. Gaming/social traction:- RECRDapp (1M daily users) and SuiPlay0X1 device (70+ games) drive adoption, with Parasol's Pokémon HOME integration sparking speculation. Regulatory tailwinds:- SEC progress on altcoin ETFs (75% approval odds per Bloomberg) and the GENIUS Act's stablecoin rules could benefit Sui's institutional pipeline. Sui's narrative hinges on balancing rapid ecosystem growth against post-hack trust rebuilding. While technical upgrades and BTCfi adoption suggest long-term upside, June's $206M token unlock and lingering centralization concerns could pressure prices near-term. Watch this: Will Sui's validator-led asset freeze set a precedent for centralized crisis management in 'decentralized' ecosystems? To get the latest update on SUI, visit our SUI currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice.
Yahoo
28-05-2025
- Business
- Yahoo
Bitcoin Ordinals Can Now Be Bridged to Cardano Through BitVMX
Cardano has continued to advance its credentials as a venue for Bitcoin Defi (BTCFi), facilitating a transfer of Ordinals to its mainnet. The on-chain transaction between Bitcoin and Cardano was facilitated by BitVMX, an interoperability protocol built using the BitVM programming language. The transaction was unveiled by Input | Output (IO), the creator of the layer 1 Cardano, at the Bitcoin 2025 conference in Las Vegas on Tuesday. The bridge represents a "preview of what is to come," IO said in an emailed announcement. Its ultimate aim is a full integration between Bitcoin and Cardano, providing DeFi services for BTC users and unlocking huge amounts of liquidity from the value stored in bitcoin. To this end, IO has developed the "Cardinal" protocol, a portmanteau of Cardano and Ordinals, which harnesses BitVMX to assign Bitcoin-native assets to addresses on Cardano. The Ordinals protocol was introduced at the start of 2023, enabling the inscription of data onto individual satoshis (the smallest BTC denomination, equivalent to one 100 millionth of a bitcoin), this making them unique and traceable. In effect, this created a Bitcoin equivalent of non-fungible tokens (NFTs).
Business Upturn
26-05-2025
- Business
- Business Upturn
Best Crypto to Buy Now: StratoVM Surges 2,939% Amid Renewed Market Optimism
By GlobeNewswire Published on May 27, 2025, 00:37 IST ROAD TOWN, British Virgin Islands, May 26, 2025 (GLOBE NEWSWIRE) — With crypto markets on edge following legal setbacks for major tokens like XRP, and volatility surging across altcoins, crypto enthusiasts are once again turning to emerging assets with high innovation potential. One name now dominating the conversation? StratoVM ($SVM) . After a prolonged downturn that followed the end of last year's rally, StratoVM has surged by a staggering 2,939% over the past three months. Fueling this growth is the exponential rise of Bitcoin DeFi (BTCFi), which has injected new life into Layer-2 innovation for the Bitcoin network. With its compelling value proposition as a smart contract–enabled, AI-integrated DeFi platform for Bitcoin, StratoVM is quickly gaining traction among the crypto community. Some are even comparing it to Solana in its early days—quiet at launch, but now gaining serious momentum. What truly sets StratoVM apart—and could it be the top contender for those wondering what the best crypto to buy now is? Could it even rival Solana as the next big player in the space? StratoVM: Just Launched, Barely Noticed — But Now It's Turning Heads Initially overlooked by the broader market, StratoVM has recently become a magnet for attention among crypto whales, DeFi enthusiasts, and early adopters. Much like Solana in its early days—when it combined speed, narrative, and community momentum to carve out a dominant position—StratoVM employs a lean go-to-market strategy with strong disruptive potential. It stands out as one of the few platforms introducing advanced AI functionality and smart contracts directly into the Bitcoin ecosystem—bridging the gap between innovation and decentralization in the world's most secure blockchain. StratoVM Gears Up for Its Big Moment with Mainnet Launch Amid BTCFi Surge The platform's upcoming mainnet launch is poised to act as a breakthrough moment. If successful, this launch will shift Bitcoin from a passive store of value into a vibrant, programmable financial layer capable of supporting complex DeFi structures. Comparatively, where CoreDAO currently commands a fully diluted valuation of $822 million, StratoVM sits at $5 million—suggesting room for growth if adoption scales. Much like the appeal of BTC Bull amid Bitcoin's institutional run, StratoVM taps directly into the current narrative tailwinds: decentralized finance, cross-chain functionality, and real Bitcoin utility. StratoVM Gains Traction as BTCFi Booms According to DeFiLlama, BTCFi has ballooned from $307 million to $6.6 billion. StratoVM is strategically riding this wave. Recent milestones boosting the platform include: Uniswap Integration: Unlocks liquidity and credibility within DeFi circles Unlocks liquidity and credibility within DeFi circles Over 50 Strategic Partnerships: Supporting development, tooling, and go-to-market Supporting development, tooling, and go-to-market Community of 100,000+ Followers: Driving early-stage awareness Driving early-stage awareness Rumored CEX Listing: Potentially a powerful catalyst for more exposure This momentum resembles the early-stage energy seen in other breakout projects before they gained mainstream attention. Could StratoVM Be the Next Solana? The Solana comparison is increasingly justified. Solana's early growth was fueled by speed, efficiency, and developer energy. StratoVM checks similar boxes while targeting an untapped frontier—Bitcoin programmability. Its advantages: Lightning-fast Layer-2 infrastructure Integrating AI into Bitcoin's Financial Ecosystem Low market cap with high exposure to BTCFi tailwinds Solana showed how niche utility, combined with a compelling narrative, could spark a breakthrough moment in the market. StratoVM may follow a similar path—especially with Bitcoin's evolving narrative as a DeFi-compatible base layer. Final Thoughts As major players like XRP face legal gridlock and Ethereum's scaling journey continues, crypto enthusiasts are shifting focus to nimble, highly innovative projects. StratoVM has surged from silence to spotlight—and it's doing so while riding one of the strongest narratives in the market: Bitcoin DeFi. If you're looking for the best crypto to buy now—something early, innovative, and built on real product momentum— StratoVM ($SVM) deserves a place on your radar. Disclaimer: This article does not constitute financial advice. Cryptocurrency markets are volatile, and past performance does not guarantee future results. Readers are encouraged to conduct independent research and consider all risks before making any investment decisions. Forward-looking statements are speculative and subject to change. Contact Details:Jason M. [email protected] Disclaimer: This is a paid post and is provided by StratoVM. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. 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