Latest news with #Bitfinex
Yahoo
3 days ago
- Business
- Yahoo
How Bitcoin's price will react to 15% stock market squall
Bitcoin just posted its biggest-ever monthly close, but its momentum has become tangled in tariff jitters and recession whispers. Market analysts are bracing for up to a 15% stock market slide this quarter amid a swirl of weak job data and US President Donald Trump's tariff sabre rattling. These fears have already seen equities lose much of the ground made in July. Crypto markets have slipped too. For crypto traders, the question now is: can Bitcoin stay afloat amid a macro storm threatening to kneecap the stock market? 'Any pronounced weakness in US equities is likely to exert short-term pressure on Bitcoin, given its notable correlation with risk assets,' Joel Kruger, market strategist at LMAX Group, an institutional crypto exchange, told DL News. Bitcoin fell from its all-time high above $122,000 by about 7% following a massive $9 billion selloff and late-month macro jitters. Still, some market analysts say Bitcoin has shown some strength, despite the price slide. Bitcoin's resilience remains propped up by its store-of-value status, massive institutional demand via exchange-traded funds, and favourable regulatory shifts, Kruger said. These factors are likely to encourage more investors to continue buying Bitcoin and help stabilise its price, he said. In April, BitMEX co-founder Arthur Hayes said Bitcoin's price won't crash the next time Trump's tariff zigzag sends the markets cratering. Meanwhile, US investors are piling into Bitcoin amid expectations that the Federal Reserve will slash interest rates in September. Some analysts project Bitcoin could trade as high as $150,000 by the end of the year. 'Structural divergence' Bitcoin's possible strength in the face of market turmoil might not extend to the broader cryptocurrency market, as some analysts expect an uneven response to macro jolts. Bitfinex analysts told DL News that the market is displaying a 'structural divergence in performance between Bitcoin and the rest of the crypto asset class.' 'This divergence underscores Bitcoin's growing role as a macro-resilient, institutional-grade asset,' Bitfinex analysts said. That uneven response might also mean altseason, when altcoin prices soar sharply, might not happen this quarter. Bitfinex analysts previously told DL News that altcoins still lack the structural demand and capital rotation required to trigger massive price bumps. Instead, the market is in a 'highly-reactive phase' where sharp liquidations can happen due to leverage-heavy positioning among traders. Crypto market movers Bitcoin is down 0.8% over the past 24 hours and is trading at $114,014. Ethereum is down 1.7% in the same period to $3,624. What we're reading SEC: $66bn liquid staking market doesn't involve sale of securities — DL News Bitcoin Recovers From Choppy Weekend Trade — U What you missed this week — Milk Road CFTC is 'Full Speed Ahead' to Enable Spot Crypto Trading on Federally Registered Exchanges — Unchained Fluid passes Uniswap in daily volume on Ethereum — DL News Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@ Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Altcoin rallies will remain ‘short-lived' for now, says analysts
Altseason wen? That's the question crypto market stakeholders are asking in anticipation of a lush season where altcoin investors will harvest the rewards of their patience as attention and capital flow from Bitcoin into other cryptocurrencies like Solana and XRP. Online interest in altcoins is rising. Data from Google Trends shows search interest for altcoins overtook Bitcoin in July for the first time since November 2024. But even with retail enthusiasm stirring again, some analysts say the market isn't ready for altcoins to explode. 'The broader altcoin market still lacks the sustained capital rotation and structural demand necessary to break out of its historical range,' analysts at Bitfinex, a crypto exchange, told DL News. 'Until this changes, altcoin rallies are likely to remain short-lived and vulnerable to broader market pullbacks.' That change might not happen this quarter. Illia Otychenko, lead analyst at a crypto exchange, previously told DL News that up to $64 billion in value could flow from altcoins into Bitcoin this summer. Sharper price slumps The flows shifting towards smaller cryptocurrencies tend to happen after a period of Bitcoin dominance, such as the one seen this summer, where the top cryptocurrency's price has reached a record $122,000. Yet, Bitfinex analysts said sharper price slumps for so-called high-beta tokens like the major altcoins point to signs that investors are still cautious and that traders are waiting for the next major narrative spark. All of that adds to the high-stakes nature of altseason, especially for retail investors. With institutions piling into Bitcoin via exchange-traded funds and corporate treasuries, smaller market participants are looking for their vehicle for outsized gains. But for some analysts, even when altseason comes, it won't be the case of the rising tide lifting all boats. Peter Chung, head of research at Presto Labs, a crypto trading firm, said that several altcoins posting massive price rallies this time around is 'unlikely.' 'While a $50 million market-cap token rocketing to $5 billion valuation may still occur sporadically, such events will be exceptions rather than the norm,' Chung wrote in a report. Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Tether's USDT is getting its own zero-fee blockchain. That's bad news for Tron
Tether's USDT will soon get its own blockchain called Plasma, which plans to draw in users by offering zero fees on transfers of the stablecoin. That's a problem for Tron, the blockchain which currently hosts the majority of USDT in circulation, according to crypto bank Sygnum. 'Tron's revenue dominance comes almost entirely from its outsized share of USDT transfers,' the bank's analysts said in a third-quarter investment outlook report. 'This dominance may come under pressure as Tether launches its Plasma chain.' Two other analysts who spoke to DL News also said Tron's position in the stablecoin market is at risk from the coming Plasma launch. Tron DAO, the crypto collective that oversees the Tron blockchain, didn't respond to a request for comment. Bitfinex's Plasma move Backed by Tether sister company Bitfinex, Plasma is already making waves. The blockchain recently raised $373 million selling its native XPL token, and is set to go live with $1 billion worth of deposits. The development comes as stablecoin issuers like Tether increasingly look to capitalise on stablecoin usage as well as issuance. Tether reported a $4.9 billion profit in the second quarter, mostly generated by the US treasuries the firm uses to back the $164 billion worth of USDT in circulation. Yet it's blockchains like Tron that benefit when holders use USDT for transfers or in decentralised finance. Plasma is positioned to tap precisely into this aspect of the stablecoin business. And it's not just Tether looking to capture more of the value created by its stablecoin. In April, rival stablecoin issuer Circle announced its own in-house payments network for its stablecoin, USDC. Gap in the market Tron hosts $81 billion of USDT, and handles 60% of all stablecoin transfers. While the majority of volume comes from rich users who hold many millions of dollars worth of crypto, it is also popular with users in developing countries. This demographic uses stablecoins as an alternative to unstable local currencies for everyday payments. 'The popularity of Tron is 100% mixed up with the popularity of Tether,' Nader Dirany, co-founder of brokerage Buy Bitcoin Lebanon, previously told DL News. Much of Tron's success stems from its early lead in emerging markets and its integrations with Binance, the world's largest crypto exchange, Amir Hajian, a researcher at crypto market maker Keyrock, told DL News. 'The bigger danger is thinner liquidity, not lost revenue.' Plasma is following a similar playbook to try and replicate Tron's success, Hajian said. Bitfinex's support of the blockchain will give it the potential to scale USDT liquidity, much like Binance did for Tron. To add to Tron's woes, users have become more sensitive to the network's rising fees in recent months. They have more than doubled to over $7 for USDT transfers, creating a gap in the market for competitors. Different impacts Tron isn't the only blockchain Plasma could siphon USDT from. Ethereum, which hosts $67 billion worth of the stablecoin, is at risk too. The two blockchains face different risks, according to Paige Horinek, analytics lead at Serotonin. She told DL News that a scenario where Ethereum loses 30% of USDT use to Plasma could cost the blockchain $230,000 to $370,000 in lost fees every day. Tron, on the other hand, stands to lose $1.6 million to $2.1 million per day in missed TRX token burning. However, the impact might be felt more on Ethereum as the network is currently inflationary, meaning that it issues more new Ether tokens than are burned to pay for transactions. Conversely, Tron mints less than it burns, so its supply keeps shrinking, Horinek said. 'The bigger danger is thinner liquidity, not lost revenue.' Hajian, however, isn't convinced Plasma will steal much USDT use from Ethereum. For one thing, Ethereum's power users are less sensitive to high fees because most of them are professional money managers, institutional investors, or high-net-worth individuals. These users like Ethereum because of its long track record of uptime and security. It will take time for Plasma to build trust and credibility, Hajian said. 'In the near term, it's unlikely to threaten Ethereum's revenue or institutional edge.' Tim Craig is DL News' Edinburgh-based DeFi Correspondent. Reach out with tips at tim@ Sign in to access your portfolio
Malaysian Reserve
31-07-2025
- Business
- Malaysian Reserve
KuCoin Ventures Announces Strategic Investment in Stable
PROVIDENCIALES, Turks and Caicos Islands, July 31, 2025 /CNW/ — KuCoin Ventures, the investment arm of leading global cryptocurrency exchange KuCoin, has announced a strategic investment in Stable, the world's first high-throughput Layer1 blockchain powered by USDT, dedicated to serving as the infrastructure for stablecoin asset issuance and settlement while advancing the development of a global stablecoin clearing and settlement network. Stable draws support from the teams at Tether and Bitfinex, with Bitfinex's Chief Technology Officer, Paolo Ardoino, acting as a project advisor. This funding round featured joint participation from KuCoin Ventures and Paolo Ardoino, along with other investors including Bitfinex, Hack VC, Franklin Templeton etc. This diverse group—spanning crypto-native capital and established traditional finance players—underscores a strong market consensus on the need to evolve stablecoin infrastructure. Positioned specifically for stablecoin payment use cases, this Layer1 blockchain targets three key challenges in current on-chain stablecoin applications: fluctuating fee structures, slow confirmation times, and complex user interactions. In contrast to public blockchains like Ethereum or Tron, Stable adopts a 'built-for-stablecoins' approach in its architecture and user experience, aiming to transform how stablecoins are technically supported through its dedicated Stablechain network. At the heart of Stable's innovations are: USDT as Native Gas: Stable uses USDT as the native gas token. Users do not need to hold any platform tokens to initiate transactions, and peer-to-peer USDT transfers are gas-free, greatly simplifying the user experience; High-performance architecture: Built on the StableBFT consensus (based on Cosmos' CometBFT) and soon integrating a DAG architecture, Stable offers high throughput and near-instant confirmation times; Enterprise-grade security & scalability: Businesses can apply for dedicated block space, enabling predictable transaction speeds and fees, making it ideal for enterprise-level payment needs. This investment marks a continued expansion of KuCoin Ventures' strategy in supporting next-generation payment infrastructure and the stablecoin economy. Cass Tsai, the head of KuCoin Ventures, commented: 'We firmly believe in the long-term potential of stablecoins in global payment ecosystems. Stable, as a high-performance blockchain tailored for USDT, provides a clear path forward for scalable stablecoin circulation, settlement, and cross-border use cases. We look forward to working with the Stable team to advance the development of a global stablecoin clearing and settlement network, and to support the industry's next growth chapter.' Joshua Harding, Co-founder and CEO of Stable, said: 'Payments infrastructure around the world needs an overhaul, and traditional methods have failed to achieve fast, reliable, and secure digital payments despite massive demand from consumers across the globe. Stable was developed to take advantage of the potential behind stablecoins like USDT to offer instant and seamless payments, directly addressing problems with current payment rails. The support we have received from major investors in both crypto and traditional finance shows that they share our vision, one that we are incredibly excited to work alongside them to make a reality.' About KuCoin Ventures The leading investment arm of KuCoin Exchange, KuCoin Ventures, is committed to investing in the most disruptive crypto and blockchain projects shaping the Web3 era. About Stable Stable is the first Stablechain—a dedicated payments Layer 1 where stablecoins like USDT are used natively for gas and settlement.
Cision Canada
31-07-2025
- Business
- Cision Canada
KuCoin Ventures Announces Strategic Investment in Stable -- The First Stablechain Powered by USDT
PROVIDENCIALES, Turks and Caicos Islands, July 31, 2025 /CNW/ -- KuCoin Ventures, the investment arm of leading global cryptocurrency exchange KuCoin, has announced a strategic investment in Stable, the world's first high-throughput Layer1 blockchain powered by USDT, dedicated to serving as the infrastructure for stablecoin asset issuance and settlement while advancing the development of a global stablecoin clearing and settlement network. Stable draws support from the teams at Tether and Bitfinex, with Bitfinex's Chief Technology Officer, Paolo Ardoino, acting as a project advisor. This funding round featured joint participation from KuCoin Ventures and Paolo Ardoino, along with other investors including Bitfinex, Hack VC, Franklin Templeton etc. This diverse group—spanning crypto-native capital and established traditional finance players—underscores a strong market consensus on the need to evolve stablecoin infrastructure. Positioned specifically for stablecoin payment use cases, this Layer1 blockchain targets three key challenges in current on-chain stablecoin applications: fluctuating fee structures, slow confirmation times, and complex user interactions. In contrast to public blockchains like Ethereum or Tron, Stable adopts a "built-for-stablecoins" approach in its architecture and user experience, aiming to transform how stablecoins are technically supported through its dedicated Stablechain network. At the heart of Stable's innovations are: USDT as Native Gas: Stable uses USDT as the native gas token. Users do not need to hold any platform tokens to initiate transactions, and peer-to-peer USDT transfers are gas-free, greatly simplifying the user experience; High-performance architecture: Built on the StableBFT consensus (based on Cosmos' CometBFT) and soon integrating a DAG architecture, Stable offers high throughput and near-instant confirmation times; Enterprise-grade security & scalability: Businesses can apply for dedicated block space, enabling predictable transaction speeds and fees, making it ideal for enterprise-level payment needs. This investment marks a continued expansion of KuCoin Ventures' strategy in supporting next-generation payment infrastructure and the stablecoin economy. Cass Tsai, the head of KuCoin Ventures, commented: "We firmly believe in the long-term potential of stablecoins in global payment ecosystems. Stable, as a high-performance blockchain tailored for USDT, provides a clear path forward for scalable stablecoin circulation, settlement, and cross-border use cases. We look forward to working with the Stable team to advance the development of a global stablecoin clearing and settlement network, and to support the industry's next growth chapter." Joshua Harding, Co-founder and CEO of Stable, said: "Payments infrastructure around the world needs an overhaul, and traditional methods have failed to achieve fast, reliable, and secure digital payments despite massive demand from consumers across the globe. Stable was developed to take advantage of the potential behind stablecoins like USDT to offer instant and seamless payments, directly addressing problems with current payment rails. The support we have received from major investors in both crypto and traditional finance shows that they share our vision, one that we are incredibly excited to work alongside them to make a reality." About KuCoin Ventures The leading investment arm of KuCoin Exchange, KuCoin Ventures, is committed to investing in the most disruptive crypto and blockchain projects shaping the Web3 era.
