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IOTA rides rebased upgrade to record TVL as token breaks out

by admin August 18, 2025

IOTA’s Rebased upgrade is paying off. Just months after launch, the layer-1 network has hit an all-time high $36 million in total value locked, fueled by double-digit staking yields and rising transaction activity — momentum that has chart watchers betting on a bullish breakout toward $0.50.

Summary

IOTA price token was flat on Sunday, Aug. 17.
Its monthly network transactions jumped by over 30%.
The total value locked rose to a record high of $36 million.

IOTA transactions and TVL jumps

IOTA (IOTA) token was trading around $0.2125 at last check on Aug. 17, up by 50% from its lowest level this year.

IOTA, a layer-1 network, is performing relatively well, just a few months after launching the Rebased upgrade. Rebased was a major upgrade that introduced more decentralization by adding new validators.

It also enabled IOTA holders to stake their tokens and earn double-digit returns. Nansen data shows that it now has staking yield of 13%, higher than most coins.

Rebased also introduced MoveVM smart contracts, enabling developers to build their decentralized applications in areas like DeFi and gaming.

Data shows that the total value locked in IOTA’s platform has continued rising this month and currently stands at an all-time high. Swirl, the biggest liquid staking platform, jumped by 2.8% in the last 30 days to $17.14 million.

Pools Finance’s TVL rose to $11 million, while Virtue has gained $8.14 million. This brings its TVL to $36 million, up from $10 million in July this year. While this TVL is still smaller compared to its peers, it is moving in the right direction.

IOTA’s network is also growing in terms of transaction growth. It handled 779,900 transactions in the last 30 days, a 31% increase, indicating that users are interacting with it.

IOTA price technical analysis

IOTA price chart: Source: crypto.news

The daily timeframe chart shows that the IOTA token formed a double-bottom pattern at $0.1420, its lowest level in April and June this year. A double-bottom is a typical bullish reversal pattern characterized by two distinct lows and a neckline, which, in this case, is at $0.2742.

IOTA token has moved slightly above the 50-day and 100-day moving averages. The Relative Strength Index and the MACD indicators have moved sideways.

Therefore, the IOTA price will likely bounce back and possibly retest the key resistance point at $0.2742, its highest point in May, and the neckline of the double-bottom pattern.

A move above that level will indicate further gains, potentially reaching the psychological point at $0.50, which is up 135% from the current level. A drop below the double-bottom point will invalidate the bullish forecast.

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August 18, 2025 0 comments

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Why Digital Currency Group Is Suing Its Own Subsidiary Over $1.1 Billion Loan

by admin August 18, 2025

In brief

Digital Currency Group has sued its subsidiary Genesis, the now-shuttered crypto lender.
The crypto giant claims that a $1.1 billion loan it made to Genesis was more than enough to cover its losses following its 2022 collapse—and that the firm has actually profited.
The latest lawsuit comes after Genesis in May sued Digital Currency Group for $3.1 billion.

Digital Currency Group has sued its subsidiary Genesis, claiming that the collapsed crypto lender has actually profited in the long-term following its collapse and subsequent bailout.

In a lawsuit filed Thursday, DCG said that the $1.1 billion loan it gave to Genesis in 2022 was ultimately more than enough to cover its losses.

Crypto lender Genesis went bankrupt in 2023 as it had lent money to collapsed crypto firm Three Arrows Capital and other firms during the bear market and “crypto contagion” that spread across the industry in 2022.

DCG stepped in with capital to help repay Genesis customers. But in Thursday’s lawsuit, DCG argued that due to a rise in the value of recovered collateral from Three Arrows Capital, its obligations under the promissory note have been reduced to zero.

This, the lawsuit states, is because the assets from Three Arrows Capital were in Bitcoin and Grayscale Bitcoin Trust shares that have shot up in value since 2022.

“Genesis ultimately suffered no loss from TAC’s default; rather Genesis has profited by hundreds of millions of dollars (which Genesis is entitled to keep),” the lawsuit said.

It added: “Because of the significant appreciation in cryptocurrency values since the petition date, this has resulted in recoveries that exceed the dollar value of the creditors’ claims as of the petition date.”

Genesis was a crypto lender run by crypto behemoth DCG. It allowed users to earn cash on their crypto holdings by allowing them to be loaned out to others.

Genesis made billions of dollars in loans to beleaguered crypto firms like Three Arrows Capital and the FTX-linked Alameda Research, which were about to default on their debt due to market contagion stemming from the collapse of Terra.

When mega digital asset brand FTX collapsed, Genesis announced to clients that it would pause withdrawals from its lending arm due to the “unprecedented market turmoil.”

“DCG took extraordinary efforts to voluntarily support Genesis in 2022, including by issuing a promissory note to Genesis to help close a potential book equity gap resulting from the collapse of Three Arrows Capital,” a DCG spokesperson told Decrypt on Friday. “We have consistently met our contractual obligations under that note, but believe those have now been fully satisfied. We are simply asking the Court to confirm that the valid and binding obligation was fully satisfied.”

Thursday’s lawsuit comes after Genesis in May sued DCG, alleging that its parent company and CEO Barry Silbert made fraudulent transfers from the lender as it was collapsing in 2022. It’s seeking $3.1 billion in damages.

Editor’s note: This story was updated after publication to include a statement from DCG.

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August 18, 2025 0 comments

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BTC’s Rising Leverage Trades Show Signs of Stress, Galaxy Digital Says

by admin August 18, 2025

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Leverage in crypto markets is surging back to bull-market levels, even as last Thursday’s pullback reminded traders how quickly overextended bets can unwind.

Galaxy Research’s Q2 State of Crypto Leverage shows crypto-collateralized loans expanded 27% last quarter to $53.1 billion, the highest since early 2022, powered by record demand in DeFi lending and a renewed appetite for risk.

That backdrop set the stage for last week’s shakeout.

Bitcoin’s retreat from $124,000 to as low as $118,000 triggered more than $1 billion in liquidations across crypto derivatives, the largest long wipeout since early August. Analysts framed it as healthy profit-taking rather than the start of a reversal, but it underscored how fragile the market becomes when leverage builds this quickly.

Galaxy’s analysts argue that stress points are already visible.

In July, a wave of withdrawals on Aave pushed ETH borrowing rates above Ethereum’s staking yields, breaking the economics of the popular “looping” trade where staked ETH is used as collateral to borrow more ETH. The unwinding triggered a rush to exit staking positions, sending Ethereum’s Beacon Chain exit queue to a record 13 days.

Galaxy has also flagged that borrowing costs for USDC in the over-the-counter market have been climbing since July, even as on-chain lending rates remain flat.

The spread between the two has widened to its highest level since late 2024. That disconnect suggests demand for dollars off-chain is outpacing liquidity onchain, creating a mismatch that could amplify volatility if conditions tighten further.

With institutional demand and ETF inflows still supporting the bullish backdrop, strategists remain constructive on crypto.

But between ballooning loan volumes, concentration of lending power, DeFi liquidity crunches, and a widening gap between on-chain and off-chain dollar markets, the system is showing more points of stress, Galaxy writes.

Thursday’s $1B flush was a warning that the return of leverage is cutting both ways.

Market Movers

BTC: Volatility has plunged across markets ahead of Jerome Powell’s Jackson Hole speech, with traders betting on September rate cuts, but some warn complacency could mask risks as BTC trades at $118,061.51, up 0.44%.

ETH: A record $3.8B in Ether is queued for unstaking with a 15-day wait, adding potential profit-taking pressure even as ETF and treasury demand surges, with ETH trading at $4,524.10, up 2.13%.

Gold: Gold is trading at $3,332.95, down 0.11%, as hotter U.S. inflation data cut Fed rate-cut bets and left XAU/USD consolidating above key $3,310 support ahead of Powell’s Jackson Hole speech.

Elsewhere in Crypto

Stablecoin Boom Has Made Crypto Ramps ‘Sexier’ M&A Targets, Says VanEck VC (Decrypt)
Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains (CoinDesk)
Gemini Hires Goldmans, Citi, Morgan Stanley and Cantor as Lead Bookrunners For its IPO (CoinDesk)

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August 18, 2025 0 comments

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Dogecoin Director Issues RadioDoge Project Details: What’s Next for DOGE?

by admin August 18, 2025

Dogecoin Foundation director, Timothy Stebbing, has revealed his vision for RadioDoge, a Dogecoin grassroots project committed to improving financial inclusion for unbanked individuals.

The technology uses long-distance RF technologies like LoRa and VaraHF to enable dependable and durable data transfer in remote areas, eliminating the requirement for traditional internet access to reach the Dogecoin blockchain.

RadioDoge also utilizes the Starlink network. In a tweet on X, Stebbing revealed his musings about RadioDoge. He highlighted a vision of having a RadioDoge base station coverage of 500kms for ground based HF and lorawan, which would be about 150 base stations to cover Africa’s 30.3 million square kms.

Dogecoin news

On April 22, 2022, the first-ever DOGE transaction was successfully transmitted via radio using the Radio Doge protocol. The global Starlink satellite network helped to make this historic feat possible.

Ethereum Outflows Top $888M As Binance And Coinbase Balances Shrink

by admin August 18, 2025

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

Ethereum (ETH) trades above the $4,400 price mark following a rather eventful market week. Although CoinMarketCap data reports the altcoin notched up a net weekly gain of 4.21%, a sharp 7.14% pullback toward the end of the week has dampened sentiment, introducing a more cautious undertone. With ETH now consolidating in a sideways range, crypto analyst Amr Taha has outlined both short and long-term market outlooks, drawing on recent exchange flows and futures market activity.

Bearish Funding Rates Vs. Bullish On-Chain Flows: Ethereum At A Crossroads

In a recent QuickTake post on CryptoQuant, Taha provides valuable insight into the price trajectory of Ethereum as both futures market positioning and exchange balances are undergoing significant changes. In studying recent developments in the derivative markets, the crypto expert observes a 29% decline in Open Interest over the past two days, following a drop in ETH prices from above $4,700 to below $4,400, which suggests that traders are rapidly closing or liquidating positions amid market turbulence.

Adding to the bearish atmosphere, perpetual futures funding rates turned negative across major exchanges. Negative funding rates occur when short positions dominate, meaning traders are paying to maintain bearish bets. While this reflects prevailing pessimism, Amr Taha states that history shows that such extremes often coincide with oversold conditions and can precede a rebound if other bullish catalysts emerge.

Source: CryptoQuant

Amid this derivative market situation, spot market data paints a different picture. In recent days, Taha explains that 200,000 ETH, worth approximately $888 million, were withdrawn from major centralized exchanges. Coinbase saw an outflow of 128,000 ETH, while Binance recorded 72,000 ETH leaving its platform.

Generally, large-scale exchange withdrawals are often interpreted as a bullish signal. When investors remove funds from trading platforms, they typically move them into cold storage wallets for multiple reasons, such as long-term holding or staking, which signals confidence in future price appreciation. There are also instances where institutions move their assets off exchanges to perform over-the-counter (OTC) transactions.

This dual narrative, i.e., bearish derivatives activity and bullish spot outflows, highlights Ethereum’s complex short-term outlook. On one hand, negative funding rates and collapsing open interest indicate traders are cautious, expecting further downside in the near term. On the other hand, shrinking exchange balances reduce immediate selling pressure, creating conditions that could support a strong price floor.

Interestingly, Amr Taha also notes that similar waves of ETH withdrawals from exchanges have preceded notable rallies, as reduced exchange liquidity tightens supply, indicating potential for a long-term price rally.

ETH Price Overview

At press time, Ethereum trades at $4,446, reflecting a 0.19% gain in the past day. Notably, investors’ attention remains heavily on the 4,400 support level in the coming sessions. A decisive bounce could validate the view that Ethereum is oversold, while sustained weakness may see ETH retest lower zones before a potential recovery.

ETH trading at $4,443 on the daily chart | Source: ETHUSDT chart on Tradingview.com

Featured image from The Economic Times, chart from Tradingview

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August 18, 2025 0 comments

Are POL, XYZ, DOT setting up for their next price shift?

NFT Gaming

This rising memecoin has potential to100x sooner than a leading coin hits 6k

by admin August 17, 2025

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

While eyes are on Ethereum, a rising memecoin shows breakout signs that could deliver bigger gains much sooner.

Summary

XYZVerse unites sports fans in crypto, presale surges with 100x potential.
The sports-backed memecoin targets mass adoption through partnerships.
XYZVerse presale nears $0.10 goal, offering early buyers massive upside.

A fast-rising memecoin has been drawing attention while many focus on Ethereum’s price path. The digital asset quietly outpaces bigger names and could offer much larger gains.

Few have taken notice, but those watching closely see the early signs of a major run. This coin may break out long before Ethereum reaches its next big milestone.

From sports fans to crypto traders: Inside the rise of XYZVerse

XYZVerse, a new entrant in the memecoin market, is positioning itself at the intersection of sports fandom and digital assets. The project aims to unite communities of football, basketball, mixed martial arts, and gaming enthusiasts under its native token, XYZ.

The token launched at $0.0001 and has advanced to Stage 10 of its presale at $0.002. The final presale target is $0.10, giving early buyers access at up to a 99% discount. The presale’s rapid progression underscores growing retail interest in lower-cap, community-driven tokens.

Token structure and supply management

XYZVerse has allocated 15% of supply to liquidity and 10% to community rewards, including bonuses and airdrops. The project plans to burn 17.13% of tokens over time to reduce circulating supply, a move intended to support price stability and potential appreciation.

Partnership strategy and market reach

The team is pursuing collaborations with high-profile sports figures to broaden its audience beyond traditional crypto investors. The aim is to leverage sports celebrity endorsements to drive adoption and integrate non-crypto audiences into the token’s community.

Outlook

With momentum from its presale and a targeted marketing push via sports partnerships, XYZVerse is seeking to position itself as a crossover asset in both the entertainment and financial spheres. Execution on partnerships and liquidity deployment will be critical to sustaining post-launch performance.

Invest in $XYZ before it surges.

Ethereum

Source: TradingView

Ethereum has sprinted higher this spring. The coin is up 18.85% in the last 7 days, 48.11% over the past month, and 72.58% in 6 months. Today’s band sits between $3719 and $4557, a zone far above last winter lows. Bulls have shown steady control, yet the latest candle pauses just under the 10-day average.

Relative strength is neutral at 54.10 while stochastic heat flashes 90.15, hinting at a market that is warm but not boiling. The price now shadows the 100-day average at $4523, keeping the uptrend intact. First resistance stands at $4863; if buyers fade, the nearest cushion waits at $3187.

If ETH bursts through $4863, momentum could lift it toward $5701, adding about 20% above today and 28% above the current mid-range. Failure to clear that mark may invite a slide of near 30% back to $3187. Given the positive MACD of 0.3312 and the rising long-term trend, odds still lean toward a fresh push higher once the overheated oscillators cool.

Conclusion

ETH is good, but XYZVerse is the first sports memecoin, uniting fans across games, targeting a 100x surge with presale, community power, and GameFi roadmap that could outrun the cycle.

To learn more about XYZVerse, visit the website, Telegram, and Twitter.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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August 17, 2025 0 comments

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Billions in Ethereum Waiting to Be Unstaked Could Add Sell Pressure to ETH: Analyst

by admin August 17, 2025

In brief

A growing queue to unstake ETH could put sell pressure on Ethereum, according to a Bitwise analyst.
Ethereum’s validator exit queue hit 855,158 ETH worth roughly $3.7 billion on Friday.
Ethereum’s price dipped more than 3% on Friday, shortly after the token nearly hit a new all-time high.

Ethereum holders are increasingly lining up to unstake their tokens, a trend that could put significant sell pressure on the cryptocurrency, according to one crypto expert.

The Ethereum blockchain’s validator exit queue hit 855,158 ETH on Friday—the highest it’s ever been, according to validatorqueue.com. The tokens were worth a combined $3.7 billion as of late Friday, according to data provider CoinGecko.

Staking is a process by which digital asset holders lock up their tokens to secure a blockchain network and earn rewards. Stakers may choose to unlock and reclaim their crypto amid uncertain market conditions, transferring them to comparatively risk-off assets or cashing out.

The Ethereum networks limits the amount of ETH that can be unstaked at a given time. The limit is designed to maintain network stability by preventing mass validator exits, which could disrupt the blockchain’s consensus mechanism. Currently, the queue is expected to take 15 days to clear.

The mounting queue of soon-to-be-unstaked ETH could be driving the asset’s recent retracement, Bitwise Senior Investment Strategist Juan Leon told Decrypt. The second-largest crypto asset by market cap has shed hundreds of dollars in recent days after coming close to setting a new all-time high mark.

The unstaked Ethereum queue could negatively affect ETH’s price, particularly if staked ETH trades at a discount to ETH, he explained.

“Tokens like stETH can trade at a discount. That discount reduces their value as collateral, triggering risk cuts, hedges, or even liquidations that lead to spot ETH selling,” Leon said.

He added that some trades may unwind as the unstaking queue grows, particularly if the cost to borrow ETH spikes.

When that occurs, “leveraged ‘stETH loop’ trades via liquidity pools on DeFi protocols stop being profitable,” Leon said. “Traders unwind by exiting positions and selling ETH to repay loans, creating synchronized sell pressure.”

Growing efforts to unstake ETH came shortly after the token on Thursday came within striking distance of its record price of $4,878 hit in November 2021, per data from CoinGecko. Since then, the altcoin has retraced its gains, weighed down by growing geopolitical uncertainty and a hotter-than-expected producer-price-index report from the U.S.

Despite concerns about Ethereum’s validator exit queue, Leon cautioned that a rise in ETH waiting to be unstaked doesn’t necessarily signal that the token’s price will continue to edge down.

“Unstaking doesn’t usually cause a sudden crash, but under stress it can act like a steady tap of new supply,” he said, “pressuring prices lower if it overwhelms new demand for ETH.”

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August 17, 2025 0 comments

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Brevan Howard, Goldman Sachs and Harvard Lead Billions in Bitcoin ETF Buying Spree

by admin August 17, 2025

Wall Street ramped up its exposure to bitcoin in the second quarter, adding positions not only in spot bitcoin exchange-traded funds (ETFs) but also in U.S. stocks closely tied to the cryptocurrency’s price, according to new filings with the Securities and Exchange Commission (SEC).

Brevan Howard nearly doubled its position in BlackRock’s iShares Bitcoin Trust (IBIT) during the second quarter, according to a securities filing. The macro-focused hedge fund held 37.9 million shares at the end of June, up from about 21.5 million in March.

The stake was worth more than $2.6 billion based on IBIT’s closing price on June 28, making Brevan Howard one of the largest reported institutional holders of IBIT alongside Goldman Sachs, which boosted its position to $3.3 billion in IBIT and Fidelity’s Wise Origin Bitcoin Trust (FBTC). The banking giant also held $489 million worth of the iShares Ethereum Trust (ETHA), according to a filing.

Goldman’s ownership of the ETFs isn’t necessarily a direct wager by its trading desk on bitcoin’s price; rather, it more likely represents positions held by Goldman Sachs Asset Management on behalf of its clients.

Brevan Howard, best known for macro trading, however, has long been active in the crypto space and operates a dedicated digital asset division called BH Digital. The unit manages billions in assets and invests in blockchain infrastructure, decentralized finance and related technologies.

Harvard, Wells Fargo and more

Other major IBIT investors include Harvard University, which reported a $1.9 billion stake in the ETF, and Abu Dhabi’s Mubadala Investment Company, which continues to hold $681 million.

In terms of U.S. banks, Wells Fargo nearly quadrupled its holdings of IBIT to $160 million, up from $26 million in the previous quarter, while maintaining a $200,000 stake in the Grayscale Bitcoin Fund (GBTC).

Cantor Fitzgerald also boosted its holdings to over $250 million while also increasing stakes in crypto-related stocks, including Strategy (MSTR), Coinbase (COIN) and Robinhood (HOOD), among others.

Trading firm Jane Street revealed holding a $1.46 billion stake in IBIT, which represents the largest single position in its portfolio after Tesla (TSLA) at $1.41 billion. It increased its stake in MSTR while reducing its holdings of FBTC.

Spot bitcoin ETFs like IBIT, which launched in January, allow investors to gain exposure to bitcoin’s price without directly holding the cryptocurrency. That structure offers traditional institutions an avenue to participate in the crypto market through familiar brokerage accounts and custodial arrangements.

Norway buys more

For some overseas entities, gaining exposure to bitcoin is easier through U.S.-listed companies that hold large amounts of BTC on their balance sheets.

That’s the approach being taken by Norway’s sovereign wealth fund, along with several other European state-backed investors, which are opting for equity stakes in crypto-adjacent firms rather than holding the crypto directly.

Norges Bank Investment Management (NBIM), the investment arm of the Norwegian central bank and the entity that manages the country’s $2 trillion pension fund, now indirectly holds 7,161 BTC, according to a new note from K33 Research. That figure is up 192% from 2,446 BTC a year ago, and up 87% from the 3,821 BTC it held at the end of 2024.

(Source: NBIM, K33 Research via X)

The largest portion of its exposure — 3,005 BTC — comes through shares in Strategy. The rest is spread across companies like Marathon Digital, Coinbase, Block, and Metaplanet. K33 also counted GME (GameStop) and several smaller holdings as contributing to the total.

Still, the exposure remains tiny in context. Norway’s fund owns stakes in thousands of companies across global markets, and the value of its bitcoin-linked investments is a fraction of its total holdings. At a current market price of $117,502 per BTC, the fund’s 7,161 BTC is worth around $841 million — or less than 0.05% of the $2 trillion portfolio.

The sharp increase over the past year may signal growing institutional comfort with the asset class, but it doesn’t represent a major strategic shift—yet.

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August 17, 2025 0 comments

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Ripple Chosen by Gemini for Credit Line Ahead of IPO

by admin August 17, 2025

According to Gemini’s S-1 filing, one of the leading US exchanges has entered into a credit agreement with enterprise blockchain company Ripple Labs.

The agreement makes it possible for Gemini to draw funds from Ripple via a credit facility.

Gemini’s borrowings will bear interest of up to 8.5% per year.

$75 million borrowing cap

The aforementioned S-1 filing shows that Gemini is already using the credit line for liquidity purposes.

RLUSD as borrowing option

Within the initial $75 million cap, Gemini can only borrow directly in the US dollar.

However, if Gemini decides to take out additional loans, it might borrow these funds in the Ripple USD (RLUSD) token, the red-hot stablecoin that was launched by the company in December.

Hence, the deal could potentially be used for enhancing the token’s adoption.

Gemini’s IPO

As reported by U.Today, Gemini confidentially filed to go public in June, joining a slew of other companies.

The company’s S-1 filing, which was unveiled on Friday, shows that the company suffered heavy losses in the first half of 2025. The company’s cash reserves stood at roughly $162 millin as of mid-2025, with its liabilities surpassing $2 billion.

Meanwhile, Ripple recently clarified that it had no IPO plans in the near future despite being one of the biggest private companies.

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August 17, 2025 0 comments