Connect with us

CryptoCurrency

‘Where Are My Coins?’ – Coinbase Users Fume Over Solana Withdrawal Issues

Published

on

'Where Are My Coins?' - Coinbase Users Fume Over Solana Withdrawal Issues

Crypto social media has been flooded by enraged Coinbase users who cannot withdraw their Solana (SOL) tokens, sparking rumors of insolvency.

“What’s the drama with Coinbase and Solana?” crypto YouTuber ‘Wendy O’ asked her 412,000 followers on X on Jan. 21.

Meanwhile, crypto investor ‘Curb’ asked Coinbase CEO Brian Armstrong, “After dealing with insolvency last cycle (FTX), we demand answers into why it is taking 9+ hours to send/receive SOL when [it] takes less than 1 second on chain.”

“Is Coinbase insolvent? Where are your proof of Solana reserves?” they asked.

Solana Stuck on Coinbase

“Coinbase is reportedly out of Solana, making users unable to withdraw money,” said ‘Financelot’ to their 205,000 followers on X.

Advertisement

Crypto venture capitalist Will Clemente commented, “What’s more likely is that they haven’t prioritized infrastructure build-out for Solana, maybe in part because they’re not incentivized to do so with a competing on-chain platform (Base).”

Others shared screenshots of waiting times of hours for pending transactions, with one user asking, “Where are my coins?” before claiming to be down nearly $1,000, “patiently waiting for my Solana,” adding, “Literally never using your platform again. Moving to Gemini.”

On Jan. 21, Coinbase announced support for the recently launched Official Trump (TRUMP) meme coin on the Solana network as a SPL token.

It is not the first time Coinbase has failed under heavy demand, and the exchange is known for going offline or having ‘technical issues’ when markets are at peak volatility. The Solana network has also had more than its fair share of outages over the past few years.

SOL Price Slumps

The rush to remove Solana and cash out has been exacerbated by the token tanking by around 13% over the past few hours. SOL prices hit an intraday high of $272 on Monday but dumped to $234 during the Tuesday morning Asian trading session.

Additionally, the asset is also down almost 20% from its all-time high of $293 on Jan. 19.

Solana-based and other meme coins are also getting mauled today. TRUMP has tanked more than 20%, while MELANIA has slumped around 50% over the past 24 hours.

Advertisement

Other memes, such as Fartcoin, Dogwifhat, Mog Coin, and Freysa AI, are also deep in the red.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

CryptoCurrency

PEPE and Fartcoin target gains, PropiChain could rise from $0.01 to $3

Published

on

PEPE and Fartcoin target gains, PropiChain could rise from $0.01 to $3

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

While PEPE and Solana’s Fartcoin target gains, PropiChain is set to steal the spotlight with its potential rise from $0.01 to $3.

Advertisement

The crypto market is dynamic as ever, with meme coins like PEPE and Solana’s Fartcoin capturing the spotlight with their price surges. Often rooted in humor and online culture, these projects have gained traction among retail investors seeking quick profits.

While PEPE aims to use its established meme status, Fartcoin capitalizes on Solana’s high-performance blockchain to drive interest. Both PEPE and Fartcoin have set ambitious targets, drawing attention to their potential. However, their speculative nature raises questions about long-term sustainability. 

Amid the hype surrounding these meme coins, PropiChain (PCHAIN) is emerging as a serious contender for the top gainer position in the crypto space in Q2 2025. Market experts say PCHAIN is poised to rally from $0.01 to $3.

Focused on transforming the real estate industry, estimated to be worth $600 trillion, through blockchain technology, PropiChain offers a utility-driven narrative.

Advertisement

PEPE  and Solana’s Fartcoin

PEPE has become a standout player in the memecoin ecosystem. While the memecoin has evolved into a symbol of community-driven crypto success, the volatile nature of meme-based assets still poses a big concern for investors.

The Solana ecosystem has birthed many projects, but few are as notable as Fartcoin. Combining humor with innovation, Solana’s Fartcoin has captured attention with its playful branding and unique tokenomics. Fartcoin’s rise is attributed to its viral marketing campaigns and a strong push from influencers. 

PropiChain

While PEPE and Fartcoin thrive on humor and virality, PCHAIN is carving a niche in the rapidly growing tokenized real estate market. Launched to democratize property ownership, PCHAIN enables users to invest in fractional shares of real estate assets through blockchain technology.

The emphasis on tangible utility and real-world application sets PCHAIN apart from meme-based assets. The platform is thus poised to capture a percentage of the $600 trillion real estate market.

Advertisement

By deploying blockchain’s transparency and efficiency, PCHAIN aims to lower barriers to entry for real estate investment while providing liquidity to a traditionally illiquid market.

Why PropiChain could rise from $0.01 to $3

PCHAIN is positioned for a massive rally that could see early presale investors enjoy over 29,000% ROI.

  • Growing demand for tokenized assets

The tokenization of real-world assets is gaining significant traction, with the market projected to hit $16 trillion. PropiChain is well-positioned to capitalize on this shift, offering an easy-to-use platform for both retail and institutional investors.

PropiChain’s collaborations with established players in the real estate industry add credibility to its model. These partnerships are expected to drive adoption and increase the value of its native token, PCHAIN.

As the broader crypto market looks for projects with real-world utility, PCHAIN’s value proposition stands out.  

Advertisement

PropiChain’s unique features

PropiChain aims to reshape the real estate industry by using advanced technology to redefine property transactions. The platform will set new standards for buying, selling, and investing in real estate globally with four transformative features:

  • Immersive virtual property exploration

The platform will transform how investors and buyers scout properties using cutting-edge Metaverse technology. It will facilitate remote property exploration through immersive 3D virtual tours, overcoming geographical limitations and making real estate investment accessible to a wider audience.

By enabling real-time property assessments without physical visits, investors can save time and money.

  • Smart contracts for automated and secure transactions

The platform will utilize blockchain-based smart contracts to automate critical real estate processes. These self-executing digital agreements can  handle tasks such as ownership transfers, lease management & agreement, and rental payments, significantly reducing the need for intermediaries like brokers and agents.

  • AI-driven investment insights

The platform will incorporate artificial intelligence to optimize real estate investment strategies. Its AI-powered virtual assistants and chatbots will provide round-the-clock support, helping investors navigate the real estate market seamlessly.

Additionally, its predictive AI system will analyze market trends, predict property value changes, and deliver data-driven recommendations. These insights empower investors to make informed decisions, boosting profitability while minimizing risks.

Advertisement
  • Real estate tokenization for broader investment opportunities

PCHAIN will enable the tokenization of real-world assets (RWA), turning physical properties into digital tokens. This approach will allow for fractional ownership of high-value real estate, increasing market liquidity and democratizing access to property investments.

The PropiChain presale

PropiChain’s focus on real-world utility combined and its potential rally from $0.011 to $3 positions it for the top-gamer position in 2025.

The project raised over $1.3 million in the first presale round and has already crossed the $970,000 mark in the ongoing second presale round. This underscores the high confidence of investors in the project’s potential. After this presale round, the token price will rise by over 109% for the third and final presale round.

The token is listed on CoinMarketCap, a statement of the project’s readiness to do bigger things in the crypto space. Additionally, BlockAudit, a top blockchain security company, audited the project’s smart contract and certified that it has no vulnerability.

For more information on PropiChain, visit their website or online community.

Advertisement

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Advertisement

Source link

Continue Reading

CryptoCurrency

Vivek Ramaswamy Resigns as D.O.G.E Co-Lead to Run for Ohio Governor: Report

Published

on

Vivek Ramaswamy's X Account Allegedly Hacked, Leads to USUAL Price Surge

Biotech entrepreneur and prominent crypto supporter Vivek Ramaswamy has reportedly stepped down from his role as co-lead of the Department of Government Efficiency (DOGE).

His decision is said to stem from a desire to run for governor of Ohio next year, with the current occupant of the seat, Mike DeWine, ineligible for reelection in 2026 since he is serving his second four-year term in office.

A Political Pivot for Ramaswamy

It is not the first time Ramaswamy has shown interest in high-profile political roles, having sought the Republican nomination for president in 2024. He had also shown interest in succeeding Vice President JD Vance as the senator for Ohio before Governor DeWine selected his deputy, Jon Husted, to fill the vacancy.

His departure from D.O.G.E, first reported by The Associated Press, is in line with the department’s new structural guidelines, which require members to step back from active roles if pursuing elected office.

Advertisement

The Cincinnati native has been a vocal advocate for crypto, criticizing the regulatory approach to the assets in the U.S. and even accusing the Biden administration and Wall Street of trying to “suppress” the industry.

He praised Grayscale’s victory against the Securities and Exchange Commission (SEC) when it wanted to convert its Bitcoin Trust into a spot exchange-traded fund (ETF), saying the win made it possible to keep BTC and blockchain innovations in the U.S. instead of pushing them overseas.

Towards the end of last year, his company, Strive Asset Management, filed for a BTC bond ETF with the SEC that would provide institutional investors and everyday Americans easy access to financial instruments based on the number one cryptocurrency.

Musk Left as Sole Leader

President Donald Trump appointed the 38-year-old to lead DOGE alongside Tesla and SpaceX CEO Elon Musk soon after winning the elections in late 2024.

Advertisement

Launched under his “Save America” agenda, Trump formally established the task force via an executive order on the day of his inauguration. It aims to modernize the federal government’s operations by slashing inefficiencies, reducing regulatory red tape, and streamlining government spending.

Alongside its bold goals, the initiative drew attention due to its playful acronym, which is similar to the ticker of the largest meme coin by market capitalization, Dogecoin. Incidentally, Musk, who is now its sole leader, is a long-term supporter of Dogecoin, even earning the nickname “Dogefather” for his endorsement of the token.

The billionaire businessman recently proposed a public “leaderboard” that would highlight the most egregious examples of government inefficiency, an idea he described as “tragic” and “entertaining.”

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
Advertisement

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source link

Advertisement
Continue Reading

CryptoCurrency

Bitstamp to Roll Out Regulated Derivatives Trading in Europe: Sources

Published

on

The Bitstamp executive team (Bitstamp)

Bitstamp, the longest running cryptocurrency exchange, plans to roll out regulated crypto derivatives trading in Europe, according to two people with knowledge of the matter.

With its long-standing focus on compliance, Bitstamp is one of a select group of crypto trading platforms to hold a Markets in Financial Instruments (MiFID) license, a pan-European regulatory framework for trading securities and derivatives, which was amended in 2022 to encompass crypto assets.

“With its MiFID license in Europe, Bitstamp plans to launch a fully regulated perpetual swap offering,” one of the people said.

Advertisement

The arrival of regulatory clarity in Europe, when it comes to crypto and tokens, has prompted the planned introduction of crypto derivatives trading from firms holding MiFID II licenses, such as Point72 Ventures-backed D2X, and Backpack Exchange, which is in the process of acquiring the remains of FTX EU and its licenses.

The vast majority of crypto derivatives volume is offshore and the aim of these new entrants is to shift market dominance away from the likes of Panama-based centralized exchange Deribit.

In June of last year, it was announced that fintech giant Robinhood would be acquiring Bitstamp, whose future looks bright, not only in Europe but also in the U.S. where it holds multiple state licenses, including a coveted New York State BitLicense.

Bitstamp declined to comment because the plans are not yet public.

Advertisement

Source link

Continue Reading

CryptoCurrency

BlockDAG x HackerEarth Plan Global Hackathons for 7.6M Developers — Fantom (FTM) Price & Cardano News

Published

on

BlockDAG x HackerEarth Plan Global Hackathons for 7.6M Developers — Fantom (FTM) Price & Cardano News

As we step into 2025, the blockchain scene is buzzing with innovation, led by major players like Cardano, Fantom, and BlockDAG. Recent Cardano news highlights its collaboration with FC Barcelona under the “Barça Vision” initiative, showcasing how blockchain technology is enhancing fan engagement through ADA rewards and NFT offerings. On the other hand, Fantom price remains under scrutiny as the platform works to regain stability following significant sell-offs by major holders, raising concerns about its future price trajectory.

Amid these developments, BlockDAG (BDAG) is coming out ahead, with a bold vision that includes fostering over 200 Web3 projects and launching global hackathons in partnership with HackerEarth. By tapping into HackerEarth’s network of 7.6 million developers, BlockDAG is dedicating itself to laying down the infrastructure for large-scale decentralized innovation. Having already raised over $182.5 million in its presale, with BDAG coins priced attractively at $0.0248, it’s carving out a promising niche for buyers looking for significant returns.

Cardano News: FC Barcelona Partnership Aims to Reshape Fan Experience

In recent Cardano news, the cryptocurrency has stepped into the sports arena through a significant partnership with FC Barcelona, unveiled under the club’s “Barça Vision” project on January 10, 2025. This collaboration seeks to revolutionize fan interaction by integrating blockchain tech to offer new job prospects, blockchain education, and a rewards system packed with ADA tokens and NFTs.

This announcement gave Cardano’s ADA token a nice 4% bump to $0.95, despite a tough market week that saw it slide down 11%. Cardano continues to hold strong as the world’s 9th largest cryptocurrency by market cap, which currently stands at $33.5 billion, signaling a robust and expanding ecosystem.

Advertisement

This venture highlights the transformative potential of blockchain in professional sports, showcasing ADA’s critical role. The growing use cases and adoption rates offer exciting opportunities for those investing in innovative digital assets.

Fantom (FTM) Price Faces Challenges Amid Whale Activity

The Fantom price has seen a modest 3% recovery in the last 24 hours, but it’s still down by 20% over the past week, struggling to reverse a bearish trend. The Average Directional Index (ADX), a tool for measuring trend strength, points to a weakening downtrend at 31.4, suggesting the market could be moving towards stabilization.

Compounding the issue, there’s been a notable decline in activity from large holders, increasing selling pressure. The count of wallets holding between 1 million and 10 million FTM dropped from 84 to 69 in just one week, impacting the coin’s liquidity.

Currently, Fantom’s price is wavering around $0.618 at a crucial support point. Falling below this could push prices down to test $0.50, while any recovery effort could send it climbing towards the $0.879 resistance level. Fantom continues to be a coin worth watching as it aims to regain stability and momentum.

Advertisement

BlockDAG’s Bold Strategy: 200+ Web3 Projects & Worldwide Hackathons

Looking ahead, BlockDAG is prepping for a groundbreaking year with extensive plans, including a significant alliance with HackerEarth. This partnership will facilitate four global hackathons aimed at engaging between 10,000 to 15,000 developers from HackerEarth’s comprehensive network of 7.6 million tech experts.

These hackathons are crafted to spur innovation and foster a vibrant global community of developers. BlockDAG’s overarching ambition is to stimulate the development of more than 200 Web3 projects within its ecosystem, giving developers the tools to innovate, test, and deploy cutting-edge decentralized applications (dApps), while showcasing what the BlockDAG Network can do. 

With a detailed roadmap and a visionary outlook for the future, BlockDAG is positioning itself as an increasingly appealing buying option. Market analysts estimate that BDAG, currently priced at $0.0248, could potentially soar to $1 by 2025. Its sophisticated technology, burgeoning ecosystem, and practical utility are catching the eyes of buyers eager for top-tier opportunities in today’s crypto market.

And the momentum is only building. BlockDAG’s presale has already netted over $182.5 million and is quickly advancing toward its $600 million target. As more developers join the ecosystem and drive its expansion, BlockDAG is affirming its role as a pivotal player in the Web3 domain. The outlook is bright for both developers and users venturing into the decentralized opportunities that BlockDAG offers.

Advertisement

Best Altcoins For 2025

As Cardano and Fantom each navigate their unique challenges and opportunities, BlockDAG emerges as the standout blockchain platform for growth and innovation. Its ambitious initiatives, including organizing hackathons and expanding its Web3 project ecosystem, demonstrate its dedication to scalability and practical utility. 

Market experts forecast that BDAG could hit $1 by 2025, buoyed by its solid presale results and a strategy centered around developer engagement. For buyers poised to ride the next big wave in the crypto landscape, BlockDAG presents the most compelling case, blending immediate potential with a long-term strategy that solidifies its standing as a frontrunner in the Web3 revolution.

Secure Your BDAG Today:

Presale: https://purchase.blockdag.network

Advertisement

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Advertisement

Source link

Continue Reading

CryptoCurrency

Ethereum Foundation infighting and drop in DApp volumes put cloud over ETH price

Published

on

ETH’s price momentum slows amid leadership disputes at the Ethereum Foundation and Solana’s expanding DApp market share.

Source link

Continue Reading

CryptoCurrency

This altcoin is predicted to mimic XRP and Solana success

Published

on

This altcoin is predicted to mimic XRP and Solana success

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

With its impressive performance and value proposition, market watchers suggest Rollblock could mimic the success XRP and Solana.

Advertisement

Rollblock (RBLK) has become one of the hottest presales and could be shaping up to follow the Ripple (XRP) and Solana (SOL) playbook with a phenomenal run in 2025. Here’s why experts are bullish on this up-and-coming GambleFi protocol that recently recorded a 600% surge in new signups amid 50x price predictions for the coming months.

Rollblock brings on-chain transparency to iGaming sector

Rollblock has defied the ups and downs of the market to consistently hit new highs over the past few months. Tens of thousands of investors have stepped up to allocate to this promising presale.

Rollblock is an entirely new way of operating a casino business, as it brings full transparency to this famously opaque industry. The online gambling industry is currently valued at above $500 billion, and Rollblock aims to take a sizable chunk with its blockchain-backed betting platform. It allows gamers to quickly verify on-chain that their transactions stand as intended and that nothing has been manipulated.

More than 7,000 games are available for Rollblock players, including poker and Monopoly as well as many slot machines and a sports betting feature. In December alone, over $1.75 million in bets were placed on the platform, making it a record-breaking month for Rollblock.

Advertisement

Winnings are paid using the RBLK token, which has a cap of a billion tokens and a deflationary supply. 

Each week, the casino buys up potentially millions of RBLK tokens using the casino’s profits. Sixty percent are burned, while the remaining 40% are used to fund staking rewards. This is intended to reduce selling pressure as supply squeeze takes effect.

XRP ProShares funds look more likely

XRP gained 1% over the past 24 hours to hit $3.18 as ProShares revealed its plan for Ripple-based ETFs under the more crypto-friendly Trump administration.

Advertisement

The asset management firm has submitted multiple applications for XRP-based ETF funds, which include leveraged and futures trading options. These are a leveraged play on famously volatile XRP price action, and if approved, a stunning wall of capital is expected to enter the Ripple ecosystem. Analysts suggest XRP could even hit $10 this quarter if these funds are approved.

Solana sees pump with meme launches

Solana experienced a significant surge last week, gaining over 40% to reach a new all-time high of $294.33. The Solana price has since fallen back down to $253. 

The Solana surge came after both Donald and Melania Trump released their own coins on the Solana chain, seeing record volume and transaction throughput in the process.

Now that Solana has been chosen by the President of the United States to launch a coin, analysts suggest that SOL could potentially reach $1,000 this cycle as its dominance could only increase from here.

Advertisement

RBLK to follow XRP and SOL

Rollblock looks ready to follow in the footsteps of Ripple and Solana to scale to a multi-billion-dollar market cap.

The upshot is that RBLK’s supply will dwindle away on exchanges as Rollblock sees demand. A price rise from the current level of $0.046 could be inevitable as a supply squeeze hits in the coming weeks.

For more information on Rollblock, visit their website or socials.

Advertisement

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Source link

Advertisement
Continue Reading

CryptoCurrency

Trump Names Uyeda and Pham as Interim SEC and CFTC Leaders

Published

on

NFT Gaming Project CyberKongz Receives Wells Notice from SEC

Donald Trump has appointed Mark Uyeda as the acting chair of the U.S. Securities and Exchange Commission (SEC), replacing outgoing Chair Gary Gensler.

The development follows Trump’s inauguration as the 47th U.S. President, during which he took office as the country’s first “crypto President.”

Uyeda and Pham’s Appointments

According to a January 20 White House notice, Uyeda will serve in an interim capacity until the U.S. Senate approves a permanent successor. The government official, whose name was suggested last year as a potential replacement for Gensler, has previously worked as securities counsel for former lawmaker Pat Toomey on the Senate Banking Committee.

He also served as counsel to former SEC Commissioners Michael Piwowar and Paul Atkins. However, pro-crypto Atkins was officially announced last December as Trump’s nominee for permanent chair of the agency.

Advertisement

The interim chair has been critical of the financial watchdog’s stance on crypto under Gensler. In a speech delivered with Commissioner Hester Peirce in March last year, Uyeda described the environment for crypto asset markets, particularly in secondary trading, as “untenable.” He has also previously spoken against enforcement actions targeting non-fraudulent crypto firms.

Trump’s administration is also making leadership adjustments at the Commodity Futures Trading Commission (CFTC). On January 20, Fox Business reporter Eleanor Terret confirmed that CFTC Commissioner Caroline Pham had been chosen as acting chair.

The Republican commissioner was selected by a five-member panel to lead the agency after the resignation of outgoing Chair Rostin Behnam on the day of the President’s inauguration. The new appointee will also oversee the CFTC’s operations until the Senate confirms a permanent head.

Pham has consistently pushed for clearer regulations in the digital asset sector, frequently intervening in enforcement actions against blockchain platforms like Uniswap. She has also argued that crypto utility tokens should not be classified as securities, highlighting her pro-industry stance.

Advertisement

More Leadership Changes

The Federal Deposit Insurance Corporation (FDIC) is also seeing a change. Travis Hill was named temporary chair following the resignation of Marty Gruenberg on January 19.

The FDIC has been linked to “Operation Choke Point 2.0,” with Senator Cynthia Lummis accusing the agency of destroying digital asset records in relation to the alleged initiative to cut off the crypto sector from banking services.

In a recent speech, House Financial Services Committee Vice Chair French Hill called for a more open-minded approach to technology and urged clearer regulatory guidance on bank-crypto relationships.

Meanwhile, despite reports suggesting Trump might sign an executive order related to digital assets, no official announcement had been made at the time of writing. Furthermore, the new President did not mention crypto or blockchain technology in his first official statements since taking office.

Advertisement
SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source link

Advertisement
Continue Reading

CryptoCurrency

Big Players Bet Big On XRP, Solana With Excitement Around Donald Trump’s Presidency, Here Are The Figures

Published

on

Big Players Bet Big On XRP, Solana With Excitement Around Donald Trump's Presidency, Here Are The Figures

Este artículo también está disponible en español.

The return of Donald Trump to the presidency has caused a wave of enthusiasm in the digital asset market, with institutional investors making bold bets on cryptocurrencies like XRP and Solana. This trend is noted by the CoinShares’ Digital Asset Fund Flows Weekly Report, which reveals a historic influx of funds into the crypto market with total assets under management (AuM) now at a new all-time high.

Trump Euphoria Sparks Record-Breaking Inflows

It has been only a few weeks into 2025, but investment funds tied to cryptocurrencies are already pulling in crazy numbers that are a tease of what’s to come throughout the year. According to data from CoinShares, crypto asset investment funds witnessed inflows of $2.2 billion last week, the largest inflow so far this year. Notably, this marks an increase of about 4,480% from the $48 million in net inflows that the funds received in the previous week.

Related Reading

The vast increase in fund inflows was caused by a euphoria surrounding Donald Trump’s incoming administration, which many are expecting to be favorable towards the crypto industry. This euphoria drove the total AuM in crypto funds to $171 billion at the end of last week, which is also its highest value ever. 

Advertisement

Unsurprisingly, Bitcoin was the standout performer. In terms of flow, Bitcoin saw $1.9 billion in net inflows, bringing its YTD total to $2.7 billion in three weeks. Bitcoin also saw outflows of about $0.5 million from short positions, further relaying the bullish sentiment. 

The outflow from short-Bitcoin funds is very surprising, given they tend to receive inflows during price rallies, as shown by flows in previous weeks. Trading volumes on exchange-traded products (ETPs) also soared to $21 billion, accounting for 34% of Bitcoin’s trading volume on trusted exchanges.

Big Players Bet Big On XRP And Solana

XRP and Solana are two surprising standout performers amidst the general inflows. These are not surprising, as there were news headlines flying around during the week that the Trump administration is likely going to prioritize cryptocurrencies created in the US like XRP and Solana.

Related Reading

Advertisement

XRP continues to garner significant attention, recording $31 million in inflows last week alone. Since mid-November 2024, XRP has accumulated an impressive $484 million in total inflows. This run of inflows shows that XRP is having a growing appeal among institutional investors, which is relayed through its price action over the past few months. XRP now finds itself trading close to its all-time high of $3.40, having recently reached an intraday high of $3.34 in the past 24 hours. 

Solana’s funds also witnessed $2.5 million in inflows last week. This number is projected to increase substantially by the next report, given the success of the Official Trump meme coin, which was launched on the Solana network.

Regionally, the United States dominated inflows with $2 billion, followed by Switzerland at $89 million and Canada at $13 million. Also, Ethereum saw inflows of $246 million last week to reverse earlier outflows. However, Ethereum is still the poorest performer among major assets in terms of fund flows this year with $28 million in outflow.

XRP
XRP trading at $3.1 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Medium, chart from Tradingview.com

Advertisement

Source link

Continue Reading

CryptoCurrency

EU Regulator ESMA Urges Nations to Ensure Compliance with Stablecoin Rules Soon

Published

on

EU flag and other flags (Yuedongzi CHAI/ Unsplash)

The European Securities and Markets Authority has urged national authorities in the European Union (EU) to ensure that exchanges are no longer making non-compliant stablecoins available for trading within the next two months.

The regulator has requested that the 27 member states in the EU ensure crypto asset service providers (CASPs) are compliant when it comes to its stablecoin rules “no later than the end of Q1 2025,” ESMA said in a statement on Friday.

“In practice, this means that CASPs operating a trading platform for crypto-assets are expected to stop making all crypto-assets that would qualify as ARTs and EMTs but for which the issuer is not authorised in the EU (“non-MiCA compliant ARTs and EMTs” ) available for trading,” ESMA said. ARTs are asset referenced tokens and EMTs are electronic money tokens.

Advertisement

The move would affect stablecoins which are not compliant with EU laws like Tether’s USDT if it were offered to EU clients. Large issuers have already taken steps to try and comply with MiCA. Tether announced in November it was discontinuing its euro stablecoin, EURT. The company has not managed to obtain an e-money license to operate in the EU. Circle obtained an e-money license in July.

Exchanges like Gemini and Coinbase, who are registered in the EU, would have to delist un-authorized stablecoins, according to ESMA’s statement. Coinbase previously announced it would delist any such tokens by last December.

“Given our commitment to compliance, we restricted the provision of services to Retail, Exchange, and Prime Vault customers of Coinbase Europe Limited, Coinbase Germany GmbH, and Coinbase Custody International Limited in connection with stablecoins that do not meet the MiCA requirements beginning on December 13, 2024,“ a spokesperson from Coinbase told CoinDesk on Tuesday.

The exchange “will assess re-enabling services for stablecoins that achieve MiCA compliance on a later date,” the spokesperson said.

Advertisement

CoinDesk reached out to Gemini for a comment.

Read more: EU’s Restrictive Stablecoin Rules Take Effect Soon and Issuers Are Running Out of Time

Source link

Advertisement
Continue Reading

CryptoCurrency

Bitcoin holds above $106K as traders bite nails over the absence of Trump crypto executive order

Published

on

Bitcoin price bounces back above $106,000 as the US Dollar Index cools and markets react positively to Trump’s pro-America agenda.

Source link

Continue Reading

Trending

Copyright © 2025 WordupNews