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Shiba Inu (SHIB) Spikes 200% in Volume, But What Does It Bring to Price?

by admin September 24, 2025

According to data from CryptoQuant, Shiba Inu (SHIB) is having one of its most erratic weeks in recent memory, with exchange inflows rising by almost 200%. According to the most recent metrics, mean inflows to exchanges more than doubled from levels earlier in the week on Sept. 24, reaching nearly 2.94 billion SHIB. Concerns regarding the short-term price stability of SHIB are raised by the fact that an increase in tokens being transferred to centralized platforms frequently indicates an increase in selling pressure.

Symmetrical SHIB triangle broken

On the daily chart, SHIB broke out of a symmetrical triangle structure and is currently trading at about $0.00001221, consolidating just below its key moving averages. The technical picture is still shaky, even though the price is currently holding fairly steady. The 50-day and 200-day EMAs are still acting as ceilings on the rise, and SHIB has not been able to break above resistance levels around $0.00001300–$0.00001350. A surge in inflows makes the outlook more complicated.

SHIB/USDT Chart by TradingView

This kind of on-chain activity frequently comes before significant sell-offs, especially when it occurs in tandem with technical malfunctions. If exchange inflows keep increasing, SHIB may test deeper support close to $0.00001150; if it fails, losses could accelerate to $0.00001000. But not every indication is negative. The token may not yet be oversold, as indicated by SHIB’s daily RSI staying in neutral territory.

SHIB volumes spike

Additionally, volume increases that do not immediately result in price breakdowns can occasionally be interpreted as a sign that buyers are absorbing selling pressure, which could lay the groundwork for a recovery. Notwithstanding the inflows, a recovery toward $0.00001350 is still possible if SHIB can maintain above the $0.00001200 level.

Exchange inflows are flashing red, but price resilience is offering a glimmer of hope as SHIB finds itself at a crossroads. According to the inflow data, sellers may soon take control and push SHIB closer to annual lows if bulls are unable to retake short-term resistances.

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September 24, 2025 0 comments

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BTC Stalls as Whales Lead Wave of Selling

by admin September 24, 2025

BTC$112,856.46 remains stagnant in the $110,000 to $120,000 range, while gold and U.S. equities hover near all-time highs.

According to Glassnode’s Accumulation Trend Score by cohort, selling pressure is evident across all wallet groups. This metric measures the relative strength of accumulation based on the size of entities and the volume of coins acquired over the past 15 days. A value closer to 1 signals accumulation, while a value closer to 0 signals distribution. Exchanges and miners are excluded from this calculation.

Currently, every cohort, from wallets holding less than 1 BTC to whales holding over 10,000 BTC, is in distribution. The largest whales, with holdings above 10,000 BTC, are showing some of the most aggressive levels of selling over the past year.

Trend Accumulation Score by Cohort (Glassnode)

Looking at long-term holder supply, the percent of circulating supply unmoved for at least 1 year has dropped sharply from 70% to 60%. The peak was in November 2023, when bitcoin traded near $40,000. At the same time, 2+ year holders also began to sell, with their share declining from 57% to 52%.

The three year plus cohort now sits just above 43% and has been steadily falling since November 2024. These wallets largely represent buyers from the previous cycle top in November 2021 at around $69,000, many of whom accumulated more during the 2022 bear market when prices hit lows of $15,500. With bitcoin’s recovery, these investors are realizing gains.

By contrast, five year plus holders remain steady, reflecting that the longest-term investors are not participating in the sell-off.

This trend shows that investors sitting on unrealized profits from this cycle are continuing to realize profits, adding to the ongoing selling pressure.

Read more: BlackRock’s Bitcoin ETF: Bearish Sentiment in IBIT Stays Strong for Two Straight Months

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September 24, 2025 0 comments

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Kazakhstan Launches Solana-Powered Stablecoin In Partnership With Mastercard

by admin September 24, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The National Bank of Kazakhstan today announced the launch of its tenge-backed stablecoin called Evo (KZTE). The stablecoin is launched in partnership with Mastercard and the leading smart contract platform, Solana (SOL).

Kazakhstan Unveils Solana-Powered Evo Stablecoin

In an announcement made earlier today, the Central Asian country of Kazakhstan unveiled a pilot project for its tenge-baked stablecoin, dubbed Evo. For the uninitiated, the tenge is the national currency of Kazakhstan.

According to the announcement, Evo’s issuance will be managed by other participants of the country’s digital assets regulatory sandbox. Notably, the two entities that will be overseeing the Evo stablecoin are likely to be crypto exchange Intebix and Eurasian Bank.

The developers have dubbed Evo the “national stablecoin” and aim to leverage the technology to bridge the gap between blockchain innovation and traditional finance. The stablecoin will be used for a variety of purposes, including expanding crypto-fiat gateways, swapping digital assets, and aiding crypto card-based transactions.

Low-latency and high-throughput smart contract platform, Solana, will be used to power the Evo stablecoin. Solana’s rapidly growing infrastructure will be critical in ensuring a smooth payment experience and large-scale stablecoin adoption in Kazakhstan.

Besides powering the stablecoin, Solana has also signed a Memorandum of Understanding (MoU) with Kazakhstan’s Ministry of Digital Development to create a special blockchain economic zone in the country.

Source: onchain.org

In the same vein, Mastercard will leverage its expertise in payments to integrate KTZE with stablecoin issuers around the world. Such integrations could open the doors for cross-border payments and international utility.

It is worth noting that the National Bank of Kazakhstan will not issue the stablecoin directly. Rather, the regulator will provide a legal framework for the issuers to issue the stablecoin. The framework will also be used to test Evo and to develop the virtual currency market.

The Head of the National Bank of Kazakhstan, Timur Suleimenov, pointed toward the importance of the pilot project, saying that cryptocurrencies and blockchain technology could play a significant role in increasing financial accessibility.

Stablecoin Growth Is Taking Over

While leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) continue to witness rising adoption, an unlikely class of digital assets like stablecoins is experiencing just as much adoption, if not more.

For example, South Korean banks are reportedly in talks with leading stablecoin issuers such as Circle and Tether to develop a market for Korean won-backed stablecoins. Similarly, Standard Chartered is expected to apply for a Hong Kong stablecoin license.

Earlier this year, Citigroup predicted that the stablecoin market is likely to grow by another $1.6 trillion by 2030. At press time, BTC trades at $112,637, up 0.1% in the past 24 hours.

Bitcoin trades at $112,637 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from onchain.org and TradingView.com

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September 24, 2025 0 comments

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Kraken Donates $1M to Pro-Trump PAC to Support Crypto Privacy Rights

by admin September 24, 2025

In brief

Kraken co-CEO Arjun Sethi announced $1 million donation to the Digital Freedom Fund PAC and increased the commitment to America First Digital to $1 million.
Arjun Sethi said crypto embodies “the right to self-determination” and warned of “attempts to criminalize infrastructure.”
Winklevoss twins previously donated over $21 million in Bitcoin to launch the explicitly pro-Republican Digital Freedom Fund PAC.

Crypto exchange Kraken said Tuesday it will donate $2 million to a pro-Trump crypto group as the platform mobilizes in “a fight for the core rights of individuals in a digital age.”

Kraken co-CEO Arjun Sethi announced a $1 million donation to the Freedom Fund PAC and said the company would also raise its 2025 commitment to the pro-Trump group America First Digital to $1 million.

“The fight for crypto in the United States is far from over,” Sethi tweeted Tuesday.

He warned crypto’s foundational principles face threats from “regulatory uncertainty,” “enforcement by headline,” “attempts to criminalize infrastructure,” and “bans on privacy tools,” calling these “constitutional questions about how financial freedom fits into a free society.”

Sethi tied Bitcoin’s origins to “a peaceful revolution” and noted how that crypto’s ideals are “the right to self-determination” and “extensions of the Bill of Rights, rendered in code.”

America First Digital is led by Jason Thielman, former executive director of the National Republican Senatorial Committee, and senior advisor Kristin Walker, a former chief of staff to Senator Cynthia Lummis, who reintroduced the BITCOIN Act in March to authorize $80 billion in Bitcoin purchases for a strategic reserve.

“By explicitly tying campaign financing to the ideals of ‘financial freedom,’ crypto leaders are no longer content with defensive lobbying,” Raj Kapoor, founder and CEO of the India Blockchain Alliance, told Decrypt. “They are moving into ideological territory, aligning digital assets with constitutional values.”

Federal authorities have recently targeted the founders of Bitcoin mixer Samourai Wallet and Ethereum privacy protocol Tornado Cash, with developers facing criminal charges for allegedly facilitating money laundering.

With the donation, Sethi said Kraken backs the right to “self-custody” assets, building decentralized systems “without permission,” opting out of “surveillance-based finance,” and accessing “open, composable infrastructure.”

The announcement drew immediate support from crypto industry figures, including Gemini co-founder Tyler Winklevoss, who welcomed Kraken’s participation.

It was the Winklevoss twins who contributed over $21 million in Bitcoin last month to launch the Digital Freedom Fund.

Unlike other crypto PACs that maintain nonpartisan facades, Cameron and Tyler Winklevoss explicitly stated their PAC will work to support Republicans, defeat Democrats, and advance Trump’s crypto agenda in the 2026 midterms.

Meanwhile, Fairshake, crypto’s largest super PAC, raised nearly $300 million in 2024 from Coinbase, Ripple, and Andreessen Horowitz, spending across both parties to keep digital assets from becoming a partisan wedge issue.

“Such political donations are common in the U.S., and these funds are expected to increase industry influence, as crypto leaders push for more pro-friendly policies from the current administration,” Sudhakar Lakshmanaraja, founder of blockchain education platform Digital South Trust, told Decrypt.

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September 24, 2025 0 comments

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UXLINK passes smart contract audit ahead of token migration

by admin September 24, 2025

UXLINK has finalized a new smart contract audit as it prepares for a token migration following a recent exploit that allowed the hacker to mint tokens.

Summary

UXLINK audit confirms new fixed-supply token contract.
Hack on Sept. 22 drained $11.3M and minted billions in UXLINK tokens.
Attacker later fell victim to phishing attack, losing 542M UXLINK tokens.

UXLINK has passed a security audit for its redesigned token contract and is preparing for a migration following a multi-sig breach that drained millions and led to mass unauthorized minting.

The UXLINK (UXLINK) team posted the update on X on Sept. 24, stating that the new Ethereum (ETH) contract had passed its audit and would be deployed on the mainnet as part of an emergency token-swap plan.

The team said it has removed the mint–burn function, will keep the UXLINK ticker for continuity, and is submitting migration details to centralized exchanges. It also plans to respond to an inquiry by Korea’s Digital Asset eXchange Association today.

Security Notice – Update 5

We would like to share the latest progress on the UXLINK token migration:

1. The new UXLINK smart contract has successfully passed its security audit.
2. The contract will be deployed on the Ethereum mainnet. The contract dropped the mint-burn…

— UXLINK (@UXLINKofficial) September 24, 2025

What the audit fixes and how the migration will work

The audited contract sets a fixed supply and drops on-chain minting to prevent repeat exploits. UXLINK said cross-chain interoperability will rely on partner services rather than a native mint function.

The migration plan is meant to realign supply with the project’s whitepaper and to restore confidence after the compromise. Centralized exchanges have been briefed and most have pledged support or temporary suspensions while the swap is coordinated.

More on UXLINK exploit

On Sept. 22 attackers used a “delegateCall” vulnerability to seize admin rights over UXLINK’s multi-signature wallet. That allowed transfers of roughly $11.3 million in assets, including stablecoins, ETH, and WBTC, and enabled the attacker to mint between 1 and 2 billion UXLINK tokens on Arbitrum.

About 490 million of those tokens were dumped on decentralized exchanges, bridged to Ethereum, and swapped for roughly 6,732 ETH, according to chain analysis. The minting and sell-off pushed UXLINK down more than 70%, from about $0.30 to roughly $0.09.

Security firms and exchanges moved quickly. PeckShield joined the probe, and major CEXs including Upbit froze suspect deposits, limiting further laundering. Law enforcement has been notified and recovery procedures are active.

UXLINK attacker falls victim to phishing scam

In an unexpected twist, the attacker was later phished. ScamSniffer and on-chain investigators flagged a subsequent approval-based drain that moved roughly 542 million UXLINK to phishing wallets tied to the Inferno Drainer network. One large transfer totaled 433,583,532 UXLINK.

That siphon reduced the exploiter’s usable holdings, though the attacker still realized substantial proceeds.

UXLINK says frozen addresses are under recovery procedures and that community losses will be handled with transparency and compensation. The audited contract and migration are the next steps in that effort. The team urged users to follow only official channels for migration instructions.

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September 24, 2025 0 comments

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FG Nexus Hits 50,000 ETH Treasury Milestone, Shares Rise

by admin September 24, 2025

FG Nexus has accumulated 50,000 Ethereum (ETH) for its corporate treasury, now valued at $210.1 million, following a strategic pivot announced in August. The firm disclosed the holdings on Tuesday, triggering a 4.5% surge in pre-market trading of its stock (FGNX). The average purchase price across all transactions stands at approximately $3,860, according to the company.

While this acquisition has placed FG Nexus in a strong position in the corporate Ethereum treasury race, it still trails Bitmine Immersion Technologies (BMNR), which holds over 2.4 million ETH—roughly 2% of the circulating supply. FG Nexus, meanwhile, is targeting a more aggressive 10% stake. Over the past week alone, it added 285 ETH to its reserves, citing Ethereum’s $4,200 market price at the time of purchase.

FGNX lags performance but intensifies ETH race

Despite Tuesday’s gains, FGNX shares remain down 68% year-to-date and 71% over the past 12 months. However, retail sentiment appears to be shifting.

BMNR, led by Tom Lee, also saw pre-market gains of 2% and continues to draw interest with its Ethereum accumulation strategy. While Bitmine currently leads the supply race, FG Nexus’ latest move signals that the contest for ETH dominance among publicly traded firms may be far from over.

Also read: FG Nexus Becomes Major ETH Holder with 47,331 ETH

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September 24, 2025 0 comments

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‘Rocktober’: Top Trader Spots Major Bullish Pattern Ahead of Pivotal Month

by admin September 24, 2025

Prominent trader Josh Olszewicz claims that Bitcoin, the flagship cryptocurrency, has formed what appears to be an inverse head and shoulders pattern (iHS).

Bitcoin is currently changing hands at $112,009, declining by 3.4% over the past week.

Much-coveted bullish pattern

The bullish reversal pattern typically appears following a prolonged downtrend, which is not the case in this particular case since Bitcoin has seen months of sideways action.

The pattern is typically comprised of left and right shoulders, as well as the head.

The chart shared by Olszewicz shows Bitcoin’s price action over a period from May to November, specifically focusing on the cryptocurrency’s price action from November until May.

Eyeing $130,000?

The chartist has projected a potential target of roughly $134,000 if the aforementioned breakout does occur. The main resistance levels are $127,000 and $119,000.

Tiny odds of record highs

According to Polymarket bettors, Bitcoin has only a 2% chance of surging to the $125,000 level.

Tether And Circle Print $1.5B In Hours: Fresh Liquidity Incoming

by admin September 24, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The stablecoin market is once again making headlines as two of the largest issuers, Tether (USDT) and Circle (USDC), significantly expanded supply in just hours. According to data shared by Lookonchain, Tether minted another 1 billion USDT, while Circle printed 500 million USDC only seven hours earlier. These issuances highlight how stablecoins continue to play a central role in fueling market liquidity, often acting as precursors to major shifts in crypto price action.

Stablecoins are widely used as dry powder, giving traders and institutions instant exposure to digital assets without relying on traditional banking rails. Large-scale minting events like this are typically interpreted as a sign that capital is flowing into the ecosystem, positioning the market for heightened volatility and potentially a new wave of demand. Historically, such moves have coincided with phases of increased activity across Bitcoin, Ethereum, and major altcoins.

As crypto investors brace for the next leg of market action, the timing of this combined $1.5 billion injection into USDT and USDC supply has sparked speculation. Many analysts believe the market is preparing to absorb this liquidity, setting the stage for what could be a decisive period in the weeks ahead.

Tether $1B Mint | Source: Lookonchain

Stablecoin Expansion And Market Implications

According to CryptoQuant, the combined circulating supply of Tether (USDT) and Circle’s USD Coin (USDC) now forms a significant portion of the global stablecoin market, which sits at around $147 billion. This dominance underscores the pivotal role both issuers play in shaping crypto liquidity. With Tether minting another $1 billion and Circle adding $500 million in supply, these issuances are not random — they reflect growing demand for stable trading capital and often precede decisive market moves.

Stablecoins act as a bridge between traditional finance and the crypto ecosystem, serving as the backbone for trading activity on centralized and decentralized exchanges. When supply expands rapidly, it typically signals an increase in available liquidity, providing investors with the ability to deploy capital into risk assets quickly. For Bitcoin, which recently faced heavy volatility and a sharp pullback below $115K, this influx could offer support for a continuation trend, particularly if bulls regain momentum.

For altcoins, the impact may be even more pronounced. Historically, stablecoin inflows have fueled periods of explosive growth in non-BTC assets, as traders rotate capital in search of higher returns. With USDT and USDC issuance climbing, analysts suggest that the coming days could define whether altcoins recover strongly or remain under pressure.

Stablecoin Market Cap Dominance Analysis

The chart shows that stablecoin dominance has risen sharply to 7.99%, signaling a renewed demand for safety amid recent volatility. After weeks of consolidation between 7.4% and 7.8%, the breakout above the short-term moving averages (50-day at 7.60% and 100-day at 7.63%) confirms stronger capital rotation into stable assets. This pattern often reflects heightened investor caution, with participants opting to sit in stablecoins while waiting for clearer market direction.

Crypto Stablecoin Dominance | Source: STABLE.C.D chart on TradingView

The move higher coincides with recent liquidations across Bitcoin and altcoins, where leveraged traders were wiped out. Historically, spikes in stablecoin dominance occur when traders de-risk, pulling capital from volatile assets. However, rising stablecoin reserves also indicate available liquidity that could quickly re-enter the market and fuel recovery once sentiment shifts.

If dominance continues to climb toward the 8.2–8.4% range, it may suggest further downside for risk assets in the short term. Conversely, stabilization below this level could mark a base for renewed inflows into Bitcoin and altcoins. The coming sessions will be key in determining whether this rise is a temporary flight to safety or the start of a deeper risk-off trend.

Featured image from Dall-E, chart from TradingView

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September 24, 2025 0 comments

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Stablecoin Titan Tether Seeks $500 Billion Valuation on $20 Billion Raise: Report

by admin September 24, 2025

In brief

Tether is seeking to raise up to $20 billion, according to a report.
The private raise could give the stablecoin issuer a valuation of $500 billion.
AI giant OpenAI and Elon Musk’s SpaceX have received similar valuations.

Stablecoin giant Tether Holdings is hoping to raise up to $20 billion in a private placement that could give the company a monetary value of up to $500 billion, Bloomberg reported on Tuesday, citing two unnamed sources.

The valuation would cast the issuer of USDT, the world’s largest stablecoin, into the ranks of artificial intelligence developer OpenAI and Elon Musk’s space transport company SpaceX, which received similar valuations.

El Salvador-based Tether is aiming to raise $15-$20 billion for an approximate 3% stake, Bloomberg reported, although an additional source said that the range was a goal and could be much lower. The sources said discussions were in the initial stages and that the deal could change.

The announcement is the latest evidence of the rising significance of stablecoins, a result of the friendlier political and regulatory environment in the U.S. under the Trump administration, including the Genius Act greenlighting the issuance and trading of stablecoins.

During a White House visit in July shortly before the passage of the legislation, Tether CEO Paolo Ardoino, told Decrypt of the firm’s plans to create USAT, a U.S.-specific stablecoin catering to different use cases than USDT, the company’s flagship stablecoin. In September, the company named Bo Hines, former executive director of the White House’s digital assets working group, to serve as USAT’s CEO.

Earlier in the summer, stablecoin rival Circle listed on the New York Stock Exchange. The stock’s debut outpaced those of tech behemoths Meta, Robinhood, and Airbnb, nearly quadrupling its initial offer price of $31. The company currently has a valuation above $30 billion, according to Yahoo Finance data.

Tether has a market cap of $172 billion, more than double Circle’s $74 billion value, according to crypto data provider CoinGecko.

On Tuesday at a conference in Seoul, Hines said during an interview that Tether has no plans to raise money, Bloomberg reported. The deal would involve new shares, not current investors selling their equity. Investment bank Cantor Fitzgerald is serving as the lead adviser.

In recent weeks, potential investors have received access to a data room as they consider their participation, the publication reported, which added that a deal is expected to close by year’s end.

According to its own attestation in July, Tether issued $20 billion in USDT through the first six months of the year and generated a net profit of $5.7 billion over this period, including $4.9 billion in its second quarter alone. The firm counts Bitcoin and gold among its holdings.

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September 24, 2025 0 comments

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Grayscale Ethereum ETFs move into SEC’s generic listing

by admin September 24, 2025

Grayscale’s flagship Ethereum investment vehicles now operate under a more streamlined regulatory regime. The move to generic standards reduces future filing requirements, signaling a new phase of maturity for crypto ETFs in U.S. markets.

Summary

SEC approved NYSE Arca’s request to shift Grayscale’s Ethereum ETFs from non-generic to generic listing standards.
The rule change streamlines oversight, reducing future filings and allowing the funds to continue trading without case-by-case approval.
Analysts see the move as a step toward broader adoption of spot crypto ETFs, with the SEC still soliciting public comments.

According to a notice issued by the U.S. Securities and Exchange Commission on Sept.23, the agency has approved NYSE Arca’s request to shift the Grayscale Ethereum Trust ETF and its Mini Trust counterpart from a “non-generic” to a “generic” listing standard.

The rule change, filed by the exchange on Sept. 19 and made effective immediately, transitions the products from their initial, bespoke regulatory framework to a broader classification used for established commodity-based trusts. This administrative shift means the funds can now continue trading without needing case-by-case SEC approval for their continued listing.

Why the rule change matters

Last week, NYSE Arca argued the rule change is consistent with the Exchange Act, citing Section 6(b)(5), which mandates that exchange rules are designed to prevent fraud and manipulation, promote fair trading, and protect investors.

The exchange said the generic standard “will remove impediments to and perfect the mechanism of a free and open market.” Essentially, NYSE Arca contends that by eliminating redundant, case-by-case oversight for already-approved products, the market operates more efficiently, which ultimately benefits investors through enhanced competition and smoother operations.

The SEC agreed with this assessment, waiving the standard 30-day operative delay to the rule change to take effect immediately. Specifically, the regulator noted that the step was consistent with investor protection and the public interest, as it did not introduce any novel issues.

Still, the agency retained a safety valve. The SEC notice specifies that for the next 60 days, the agency retains the authority to “temporarily suspend such rule change” if it finds such action necessary to protect investors, safeguard markets, or further the purposes of the Act.

ETF specialists see the development as part of a broader shift. Bloomberg Intelligence analyst James Seyffart noted last week that the new standards could pave the way for a wave of spot crypto exchange-traded products, particularly altcoin ETFs that have been waiting on regulatory clarity.

WOW. The SEC has approved Generic Listing Standards for “Commodity Based Trust Shares” aka includes crypto ETPs. This is the crypto ETP framework we’ve been waiting for. Get ready for a wave of spot crypto ETP launches in coming weeks and months. pic.twitter.com/xDKCuj41mc

— James Seyffart (@JSeyff) September 17, 2025

The SEC has also invited public comment on the rule change, underscoring that the process is not finished. Interested parties have an opportunity to submit data, views, and arguments concerning whether the change is consistent with the Exchange Act.

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September 24, 2025 0 comments