Articles for category: Crypto

October 16, 2025

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XRP Faces Crucial Test Near $2.40 as Institutional Selling Triggers Market Volatility

XRP experienced a significant sell-off this week, driven primarily by large-scale institutional liquidation across derivatives markets, which erased roughly $10 billion in market value. Between October 14 and 15, the price of XRP dropped sharply from $2.49 to $2.41, marking one of this month’s most pronounced single-day declines for the digital asset. The recent price drop follows a period of sustained selling pressure by major holders, often referred to as whales. Since October 10, approximately 2.23 billion XRP tokens, valued at around $5.5 billion, were transferred onto exchanges. This surge in supply contributed to heavy downside pressure. The futures market

October 16, 2025

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Ethereum Poised for Huge Scalability Leap with Pico Prism and Consumer GPUs

Ethereum’s scaling ambitions received a significant boost with the unveiling of Pico Prism, a cutting-edge zero-knowledge Ethereum Virtual Machine (zkEVM) designed for real-time block proving using standard consumer graphics hardware. The Ethereum scaling company Brevis revealed on Wednesday that their novel zkEVM technology achieves near-instantaneous cryptographic proofs of Ethereum blocks by harnessing affordable, off-the-shelf GPUs, specifically 64 Nvidia RTX 5090 cards — widely recognized as high-end gaming processors. In tests conducted in September, Pico Prism demonstrated an impressive 99.6% real-time proving rate within under 12 seconds. Real-time proving (RTP) refers to the generation of a cryptographic proof verifying the block’s

October 15, 2025

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Alibaba’s Ant Digital Sparks Interest with Ethereum Layer 2 Blockchain Launch

Jovay Network, a previously low-profile Ethereum Layer 2 (L2) solution backed by Ant Digital—an Alibaba subsidiary—has recently garnered widespread attention after highlighting its Ethereum integration in a recent social media announcement. Although the announcement caught many investors by surprise, Jovay Network was initially introduced as an Ethereum L2 platform during the RWA Real Up conference held in Dubai last April. The project positions itself as a financial-grade blockchain infrastructure, designed explicitly to support global real-world asset tokenization through a “modular Layer 2 architecture that bridges Web2 and Web3 environments.” Jovay’s architecture aims to enhance scalability and interoperability, enabling easier integration

October 15, 2025

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Analysts Highlight Bitcoin’s Resilience Amid October Lull, Eyeing Potential Rally Toward Gold’s Valuation

Bitcoin (BTC) is exhibiting a slower-than-usual pace in October, remaining steady near the $111,000 level despite a subdued price movement that contrasts with recent surges in gold and silver markets. Currently, bitcoin is trading around $111,500, down approximately 1.2% over the past 24 hours, while several other cryptocurrencies, including ether (ETH), XRP, Solana (SOL), and Dogecoin (DOGE), have experienced sharper declines ranging from 2% to 3%. Despite the lull, a number of analysts interpret bitcoin’s stable performance and resilience amid broader market fluctuations as a sign of underlying strength rather than weakness. During the Digital Asset Summit in London, Quinn

October 15, 2025

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Crypto Trader James Wynn Faces Another $4.8 Million Liquidation on Hyperliquid

James Wynn, a well-known figure in high-leverage crypto trading, suffered another significant liquidation worth approximately $4.8 million this week, according to blockchain analytics firm Lookonchain. On Tuesday, Wynn initiated leveraged positions totaling $4.8 million by using just $197,000 in stablecoin collateral. His aggressive move included a 40x long bet on 34 Bitcoin (BTC) valued at $3.85 million, a 10x long position on 122 million KingPepe (kPEPE) meme tokens worth $917,000, and a 10x leveraged stake on 712 Hyperliquid (HYPE) tokens amounting to $28,000. However, by the following day, nearly all those positions were liquidated. Lookonchain highlighted Wynn’s pattern of rapidly

October 15, 2025

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Backpack Launches SEC-Registered Tokenized Shares amid Liquidation Controversy – “The Defiant”

Backpack, a cryptocurrency exchange and wallet platform founded by former FTX and Alameda Research personnel, has launched a new offering allowing users to trade tokenized shares of SEC-registered U.S. stocks. This rollout follows a recent surge in controversy after some users reported deposit irregularities during a volatile market period. In collaboration with fintech company Superstate, led by Robert Leshner, Backpack integrated the Opening Bell platform to enable eligible non-U.S. users to buy, sell, and margin trade on-chain versions of actual company shares. Unlike many existing tokenized stock products that rely on synthetic representations, Superstate’s tokens correspond to genuine equity, granting

October 15, 2025

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Reliance Jio Collaborates with Aptos to Launch Blockchain Rewards for Over 500 Million Users

Indian telecommunications leader Reliance Jio has announced a strategic partnership with Aptos Foundation and Aptos Labs to introduce blockchain-based rewards for its extensive customer base exceeding 500 million users. This initiative aims to integrate advanced blockchain technology into the company’s telecom offerings. The collaboration was revealed by Pawas Chandra, General Manager and Business Head at Reliance Jio, during the recent “Aptos Experience” event. Jio plans to deploy Aptos’ layer-1 blockchain infrastructure, recognized for its speed and cost efficiency, to enable the distribution of digital rewards at a scale suitable for its massive user network. Aptos’ blockchain platform is designed to

October 15, 2025

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Tether’s Omnichain Stablecoins USDT0 and XAUT0 Now Live on Solana via Legacy Mesh

Tether’s omnichain stablecoins, USDT0 and XAUT0, are officially available on the Solana blockchain through Legacy Mesh, an interoperability platform built atop LayerZero. This integration connects native stablecoin liquidity from multiple blockchains, enhancing Solana’s position as a versatile settlement layer for decentralized finance (DeFi) and tokenized real-world assets (RWAs). With the deployment of USDT0 and XAUT0, Solana now supports both Tether’s digital dollar stablecoin and its tokenized gold variant in an omnichain format. Unlike the traditional USDT stablecoin issued directly by Tether, USDT0 operates within a third-party network aimed at unifying native USDT liquidity across various blockchains. Legacy Mesh’s approach enables

October 15, 2025

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Nansen and Sanctum Unveil nxSOL, Boosting Liquid Staking on Solana

Blockchain analytics leader Nansen has teamed up with the Solana-based protocol Sanctum to launch nxSOL, a new liquid staking token (LST) designed to enhance staking liquidity within the Solana ecosystem. This strategic partnership introduces a fresh option for users to earn SOL staking rewards while maintaining immediate access to their funds in Solana’s decentralized finance (DeFi) landscape. Solana, recognized as the second-largest blockchain by total value locked (TVL), currently holds over $13 billion across its network. With approximately 68% of SOL’s circulating supply staked — roughly 372 million tokens valued at $74.5 billion — the demand for more flexible staking

October 15, 2025

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Ripple Teams Up with Absa Bank to Launch Institutional Crypto Custody Services in Africa

Ripple, a leading blockchain technology provider, is advancing its institutional digital asset custody services into the African market through a strategic alliance with Absa Bank, one of South Africa’s foremost financial institutions. This partnership marks Absa as Ripple’s inaugural major custody client on the continent, underscoring a growing institutional appetite for secure management of tokenized assets in emerging markets. Utilizing Ripple’s advanced digital asset custody infrastructure, Absa will be able to offer its clientele secure, regulated storage and management solutions for cryptocurrencies and other tokenized holdings. The integration comes at an opportune moment as regulatory frameworks for digital assets in