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SBI Ripple Asia signs MOU with Tobu Top Tours to develop tokenized payments
NFT Gaming

SBI Ripple Asia signs MOU with Tobu Top Tours to develop tokenized payments

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SBI Ripple Asia is partnering with Tobu Top Tours to build closed-loop payment ecosystems. The venture will mint unique tokens for destinations and brands, tethering spending power to digital fan engagement and localized travel experiences.

Summary

  • SBI Ripple Asia and Tobu Top Tours signed an MOU to launch tokenized payment platform
  • Proprietary tokens on the XRP Ledger seek to support travel, retail, and fan economies
  • Service launch targeted for the first half of 2026

According to an announcement on Sept. 30, the two Japanese firms have inked a memorandum of understanding to build a new payment platform. Under the agreement, SBI Ripple Asia will issue proprietary tokens on the XRP Ledger, each tailored for partner companies and organizations.

Tobu Top Tours, a major travel and tourism operator, will leverage its industry clout to onboard partners, build out a network of affiliated stores, and develop marketing initiatives using NFTs functionally linked to these new tokens. The companies are targeting a service launch in the first half of 2026.

Tourism, fan economies, and other use cases

The memorandum outlines various use cases that move beyond theoretical applications. In tourism, the platform would issue tokens geographically locked to specific destinations, functioning as a digital currency for an entire town or shopping district.

SBI Ripple Asia said this would streamline the cashless experience for travelers and keep tourist spending circulating within the local economy. Notably, transactions could be paired with NFTs functioning as digital souvenirs or discount vouchers, creating a link between one-time visits and repeat engagement.

The model also proposes a new approach to disaster relief and regional aid. According to the companies, donations could be issued as tokens that are only spendable within the affected area, ensuring financial support goes directly to local businesses like restaurants and shops. This prevents aid from leaking out to national chains or online retailers, offering a transparent and targeted method to fuel grassroots economic recovery.

Additionally, the platform is engineered for the fan economy. Sports teams, artists, and cultural institutions could launch their own branded tokens. These would be used for merchandise and concessions, while NFTs act as programmable membership cards. The system could unlock special experiences or rewards based on a fan’s spending, creating a dynamic new revenue stream and deepening loyalty.



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Crypto Trends

Bitcoin Accumulation Trend Shows Signs Of Weakening, What Does This Mean?

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

While Bitcoin’s price has declined sharply from its recent all-time high of $124,000, the development has caused a wave of concerns and uncertainty within the community. Several metrics are starting to reflect this waning sentiment among investors toward the largest cryptocurrency asset.

A Cooling Accumulation Bitcoin Trend Score

When a crypto asset’s price experiences a persistent downward trend, history reveals that the negative movement mostly hampers investors’ sentiment. The same can be said for Bitcoin, with the current state of its market and the action of investors toward BTC’s recent price pullback.

Following an examination of the Bitcoin Accumulation Trend Score, Glassnode, a leading financial and on-chain analytics platform, revealed that the metric is showing signs of weakness. This cooling period in the crucial metric indicates that large and long-term BTC investors are reducing their aggressive purchasing habits.

According to the on-chain platform, the BTC accumulation trend score has softened with conviction from large cohorts despite elevated costs. Even though the indicator still demonstrates healthy levels of holding, the recent softening points to a break in the surge of accumulation that may have been boosting the market uptrend and confidence.

BTC accumulation slowing down | Source: Chart from Glassnode on X

Such a change currently may signal a transitory stage in which institutions and whales reevaluate their positions in light of altered sentiment toward cryptocurrencies and changing macroeconomic periods.

Glassnode highlighted that a more cautious bid is frequently indicated by lighter accumulation. At the end, this cautious trend leaves the BTC market susceptible to a supply overhang until demand picks up speed once again.

Market Eyes Shift As BTC Exchange Inflows Drop

Investors’ conviction in Bitcoin has not yet fully faded, as evidenced by a drop in BTC total Inflows to all crypto exchanges. In a quick-take post on the CryptoQuant platform, Nino, a market expert, claims that the declining BTC exchange inflows hint at a possible shift in market dynamics and sentiment.

Nino determined the continuous decline using the 7-day Moving Average (MA) time frame. Given the present market state, the expert noted that this trend could be explained in multiple ways. When there is a high influx, it often points to potential selling pressure, and derivative markets face a more complex situation than spot exchanges. 

Furthermore, a surge in inflows may not necessarily imply a clear market direction but rather the potential for future high volatility due to the fact that the funds can be used to open both long and short positions. As a result, the declining inflow might suggest a rising confidence among holders to retain their assets off exchanges. Considering the trend, a short-term supply reduction becomes highly likely.

At the time of writing, BTC was trading at $109,492, showing a nearly 2% drop within the last 24 hours. Despite the fading momentum, its trading volume in the past day has increased by over 36%, indicating a gradual resurgence in bullish bets.

BTC trading at $109,029 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Gaming Gear

Trump Signs Order to Transfer TikTok to US Ownership

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President Donald Trump signed an executive order on Thursday spelling out a deal that could transfer the majority ownership of Chinese-founded app TikTok to Americans. The app has an estimated 170 million US users.

“This is going to be American-operated all the way,” Trump said.

A representative for the White House directed CNET to the president’s press conference. A representative for TikTok’s Chinese owner, ByteDance, didn’t immediately respond to a request for comment.

An executive order titled Saving TikTok While Protecting National Security was posted on the White House website Thursday afternoon.

Read more: New TikTok Algorithm or Brand-New App in the US?

The president said he agreed with Chinese President Xi Jinping that TikTok would be separated from ByteDance to continue operating in the US. US companies will own about 80% of the US version of the app. Six Americans will sit on TikTok’s seven-member board of directors, The Guardian reported.

Trump said during the signing that US tech company Oracle and its co-founder Larry Ellison will play a major role in the new TikTok. Oracle reportedly would handle data storage and cloud services and act as TikTok’s security provider. 

A representative for Oracle didn’t immediately respond to a request for comment.

Trump also said Dell Technologies founder Michael Dell and media mogul Rupert Murdoch would be involved.

TikTok was launched internationally in 2017 and has been controversial ever since due to its Chinese ownership. The app went dark in the US for part of the day on Jan. 18, but returned the next day. Repeated threatened bans have been

Many details still unclear

As we reported earlier this week, not all the details of the TikTok deal have been revealed. 

It’s not yet known if TikTok users will have to migrate to a new app or if an app update will make the changeover more seamless for users.

A major part of the debate over TikTok’s ownership is what will happen to the site’s powerful algorithm, which utilizes user data to recommend other TikTok videos. 

NBC News reports that the president was asked if the US algorithm would push Trump-positive content, called MAGA for his campaign slogan Make America Great Again.

“I always like MAGA-related,” he said. “If I could make it 100% MAGA, I would, but it’s not going to work out that way. Unfortunately, no, everyone’s going to be treated fairly. Every group, every philosophy, every policy will be treated very fairly.”

According to the New York Times, Chinese law says that the algorithm must remain under Chinese control, but US law requires TikTok to be cut off from cooperating with China on the algorithm.



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Product Reviews

Trump signs executive order saying his TikTok deal is legal

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President Donald Trump has signed an executive order finalizing some of the terms of a deal to bring TikTok’s US business under American control. The new TikTok entity will be owned by a group of US-based investors, while ByteDance will maintain a smaller stake in the new company and keep the app’s algorithm.

TikTok has faced more than a year of uncertainty about its future in the United States since former President Joe Biden signed a law last year requiring ByteDance to sell TikTok or face a ban. In January, the Supreme Court upheld the law and TikTok briefly went dark just as Trump took office. Trump promptly signed an executive order extending the ban deadline for the app. (He signed off on a fourth extension last week.) Today’s order declares that the plan to split off a US entity from the ByteDance-owned company will meet the requirements of the ban order.

The executive order comes after a flurry of interest in TikTok from US companies and investors. Microsoft, Amazon, Perplexity AI, Reddit cofounder Alexis Ohanian and YouTuber MrBeast were all reportedly among those vying for the business.

Under the new arrangement, US investors will have a large stake in the US entity. CNBC reported that Oracle, Silver Lake and MGX would be part of a core group of investors that own 45 percent of the business. Trump confirmed Oracle’s involvement, and also mentioned Michael Dell and Rupert Murdoch as investors as part of the deal. ByteDance, TikTok’s current owner, will have a 19.9 percent stake and the rest will go to a group of investors that includes ByteDance’s previous investors. Vice President JD Vance said the new company would be valued at around $14 billion.

Oracle, which has previously partnered with the company on data security, will continue in its role overseeing the app’s algorithm and security. The fate of the TikTok algorithm has been a major question. Some lawmakers have questioned the decision to license the algorithm from ByteDance. Earlier this week, both the Republican chair and Democratic ranking member of the House Select Committee on the Chinese Communist Party expressed concerns about any arrangement that doesn’t put the algorithm squarely in American hands.

Answering questions after Trump signed the order, Vance said to reporters that the deal ensures that US investors will have “control over how the algorithm pushes content toward users.” In reponse to a question about whether the algorithm would prefer MAGA content, Trump lamented that although he would love for the platform to be 100 percent MAGA, it would in fact treat “everyone fairly.” Trump described China as “fully on board” with the deal.



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NFT Gaming

UAE Signs Crypto Tax Reporting Agreement, Opens Industry Consultation

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In brief

  • The UAE Ministry of Finance signed the Multilateral Competent Authority Agreement under CARF on Sunday, following its November 2024 announcement.
  • Implementation begins in 2027, with the first international tax information exchanges expected in 2028.
  • An eight-week public consultation launched on September 15 invites all crypto stakeholders to weigh in on potential impacts and compliance requirements.

The United Arab Emirates has committed to automatic crypto tax reporting with global authorities, launching an industry consultation to hammer out implementation details before the 2027 rollout.

The nation signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework, developed by the Organization for Economic Cooperation and Development in 2023, which establishes mechanisms for automatic exchange of tax-related information on crypto-asset activities between countries. 

Crypto firms will need to comply with the new reporting rules by 2027, with the UAE beginning to share data with international tax authorities the following year.



“The framework establishes a mechanism for the automatic exchange of tax-related information on crypto-asset activities, ensuring that the UAE provides certainty and clarity to the crypto-asset sector while upholding the principles of global tax transparency,” the Ministry said on Sunday.

The move comes as the Emirates continues building its reputation as a global hub for digital assets, following its 2024 decision to exempt crypto transactions from value-added tax and Dubai’s establishment of clear regulatory guidelines for Web3 firms.

To ensure the framework meets market needs, the Ministry has launched an eight-week public consultation running through November 8. 

The Ministry is soliciting feedback from crypto firms and service providers to share their views and recommendations on potential impacts and areas requiring further clarification.

The consultation “aims to develop clear and effective regulatory rules informed by the insights of experts and stakeholders, and aligned with market needs,” the statement read.

Industry experts see the development as largely positive, with Nitesh Mishra, co-founder and CTO at hedging platform ChaiDEX, telling Decrypt the agreement “brings greater legal clarity and certainty to crypto activities in the UAE, making the environment safer for compliant investors.”

“It aligns the UAE with global tax transparency standards, boosting trust with regulators and international partners,” he added.

Allowing “public input on the rules” means “the final regulations are likely to reflect market and investor needs,” Mishra said, and will help “attract institutional investors as the rules help establish a fair, well-regulated marketplace.”

Benjamin Young, business setup expert at Aston VIP, told Decrypt that the UAE signing the agreement “reinforces the country’s commitment to global regulatory alignment and transparency in digital assets, while also helping strengthen investor confidence.”

“It will require local and international firms operating in the UAE to ensure compliance with new reporting obligations,” he added, which may “increase operational demands but should contribute to a healthier long-term ecosystem.”

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The chart shows combined market value of top two stablecoins, USDT and USDC. (TradingView/CoinDesk)
NFT Gaming

BTC Treads Cautiously as Altcoins IMX, NEAR and HASH Show Signs of Froth

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The crypto market continues to trade cautiously as it seeks fresh catalysts following the Fed rate cut. BTC has settled into a tight range, with $118,000 serving as resistance for the bulls to overcome.

Open interest in bitcoin futures has jumped to 149K BTC, ending a two-month downtrend. It indicates renewed capital inflows into futures, possibly on the bearish side, as the three-month annualized premium remains depressed below 10%.

Smaller tokens continue to gain ground, raising hopes for a full-blown altcoin season. In the past 24 hours, IMX, NEAR and HASH have gained over 10%, the only three coins out of the top 100 to enter double figures.

Timothy Misir, head of research, BRN, called traders to keep position sizes prudent.

“Institutional flows and large accumulation address activity support the bullish case; record options open interest and dense supply near $118,000 create tangible pinch points. Trade the market as it is: keep position sizes prudent, manage leverage tightly, and use $115,200 as the primary tape guardrail while watching $118,000 for a clear breakout signal,” Misir said in an email.

Derivatives Positioning

by Omkar Godbole

  • AVAX is the only top 20 cryptocurrency to boast an increase in perpetual futures open interest over the past 24 hours. The rest of the coins have seen flat to negative OI, a sign of capital outflows.
  • According to data source Glassnode, 5,000 BTC in long positions is vulnerable to liquidation if the price drops below $117,000. There is also a build up of short positions at higher price levels, representing a sell-on-rise mentality.
  • Most majors, excluding LINK, DOT and TRX, have seen net selling in futures, as evidenced by their negative 24-hour cumulative volume deltas. This indicates the possibility of a sharp drop in altcoins later today alongside a growing risk aversion on Wall Street.
  • On the CME, bitcoin futures OI has bounded to 149K BTC, ending a two-month downtrend. Perhaps, fresh shorts are coming in, as the annualized three-month premium remains below 10% and looks to be trending south. Ether’s futures OI has risen back above 2 million ETH.
  • On Deribit, traders continue to chase put options tied to BTC in a sign of lingering downside concerns. Flows over OTC network Paradigm featured calendar spreads and put writing.

Token Talk

By Oliver Knight

  • Aster, the native token of its namesake decentralized exchange, rose 33% in the past 24 hours to contribute a 650% gain since it was issued earlier this week.
  • The token was touted on X by Binance founder Changpeng Zhao, who claims the token is a direct competitor to HyperLiquid’s HYPE.
  • Nearly 330,000 wallets used Aster ahead of a series of exchange listings for the token, with daily trading volume hitting $420 million.
  • The platform’s introduction hasn’t been without controversy, one of the Aster team members had to say “funds are safe” on Discord in response to concerns about whether funds could be withdrawn.
  • It is also claimed that Aster is just a rebrand of Apollox, a decentralized perpetuals exchange that has been around for years.
  • Nonetheless, the platform has proven attractive in the past 24 hours and is considered by some traders as a viable alternative to HyperLiquid, whose token has a market cap of $18.7 billion compared with Aster’s $1 billion.



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IMX price up 28% as signs of bullish reversal emerge, how high can it go?
NFT Gaming

IMX price up 28% as signs of bullish reversal emerge, how high can it go?

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IMX price rallied for the fourth straight day as investors continued to move their holdings off exchanges as a bullish reversal pattern formed on the weekly chart.

Summary

  • IMX price hit an 8-month high of $0.86 today.
  • The token’s supply on exchanges has dropped over the past month. 
  • Technicals are flashing early signs of a bullish reversal in the making.

According to data from crypto.news, ImmutableX (IMX) price rose 28% to an 8-month high of $0.95 before it settled at $0.86 at the time of writing. At this price, the token is up nearly 100% above its monthly lows and 160% from its year-to-date low.

The daily trading volume for IMX has doubled over the previous day, a sign of robust demand from traders.

IMX’s gains come amid an ongoing trend of investors moving their holdings off exchanges. Notably, the token supply on exchanges has decreased from 267 million at the beginning of September to around 253 million at press time, according to data from Nansen. 

Source: Nansen

As more investors withdraw their holdings from exchanges, the circulating supply of the token drops. This could reduce selling pressure on the token while also signalling a strong commitment from existing holders, factors that could support its gains ahead.

Investor attention has also turned toward IMX after the Immutable team announced a partnership with Netmarble, a leading South Korean mobile game developer and publisher, last week. 

The partnership has enabled developers building on Immutable to integrate with hit mobile titles like Solo Leveling: ARISE, Seven Knights, and Marvel Future Fight, allowing them to earn rewards, access new audiences, and leverage Netmarble’s global reach. 

Market experts expect the development will strengthen Immutable’s presence in the mainstream gaming sector and further enhance the utility and demand for the IMX token.

On the weekly chart, IMX price has confirmed a breakout from a double-bottom that has been forming since the beginning of this year. Following the token’s recent rally, IMX has broken out of the pattern, a development that could bring more gains for the token in the short term.

IMX price has broken out of a double-bottom and a larger-scale falling wedge on the weekly chart — Sep. 19 | Source: crypto.news

Zooming out the chart, it also appears that IMX confirmed a breakout from a multi-year falling wedge pattern, which had been formed as the token price action made lower highs and lower lows, connecting which forms two converging trendlines. In technical analysis, a breakout from this pattern typically leads to a reversal trend from bearish to bullish.

The setup on IMX is increasingly shaping up like the early stages of a bullish reversal, with the double-bottom breakout suggesting that sellers have lost their grip and the multi-year falling wedge giving way, the token is showing signs of shifting from a prolonged downtrend into an uptrend.

The key now is whether IMX can hold these breakout levels as support; if it does, that would strengthen the case that this move is not just a short rally but the foundation for a sustained reversal.

Based on this setup, the next likely target for IMX is $1.31, a projected level calculated by adding the depth of the double bottoms formed and adding it to the level at which the token broke out of the pattern. The target set by the falling wedge pattern stands much higher, at $2.70, which is up nearly 229% from the current price level.

A drop below $0.82, the neckline level of the double bottom, would, however, invalidate this price prediction.

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



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Metaverse Shows Signs of Life with NFT Sales Up 27 Percent
NFT Gaming

Metaverse Shows Signs of Life with NFT Sales Up 27 Percent

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Metaverse-related non-fungible token sales rose 27% in August from the month prior, suggesting people could be “slowly sneaking back into virtual worlds,” according to an analyst from DappRadar. 

There was $6.5 million in metaverse trading volume across August, down slightly from July but coming from 13,927 sales, representing a 27% increase from last month, according to the report published on Thursday. 

“It’s the 2nd month of steady activity, hinting that users may be slowly returning to virtual worlds like Sandbox, Mocaverse, Otherside and Decentraland,” it wrote on X. 

The metaverse saw peak hype in 2021 and 2022, driven by speculation and excitement about what the technology could achieve, slowing down in 2023 and beyond after its initial burst of popularity.  

Source: DappRadar

People “sneaking back” into the metaverse

In July, DappRadar recorded sales of $6.7 million and trading volume of 10,900 in metaverses, a significant jump from just $3.7 million in sales and 12,800 in volume in June.

DappRadar analyst Sara Gherghelas said August figures show the “metaverse isn’t dead yet,” and people appear to be “sneaking back into virtual worlds.” 

However, January has still been the best month for sales this year, with $7.7 million, while April and May have been the best for trading after clocking more than 19,000 in volume each.

Platforms focusing on long-term infrastructure

At the moment, Gherghelas said the top platforms are focused on building for the long term, with a focus on infrastructure.

The Sandbox, a metaverse-focused subsidiary of Hong Kong-based Web3 firm Animoca Brands, had its largest Land auction in July. The Mocaverse, a Web3 ecosystem and NFT project, is preparing to launch Moca Chain, with a testnet expected this quarter. 

At the same time, Otherside, a metaverse platform developed by Yuga Labs, released AI-powered world-building tools in August. 

Decentraland, a browser-based 3D virtual world, announced a major engine upgrade, and HYTOPIA, a Web3 gaming platform and metaverse, replaced its $TOPIA token with the new $HYBUX token. The team also expanded its creator fund.

Related: Animoca’s Sandbox overhauls as co-founders confirm new strategic roles

“While volumes continue to remain modest, leading platforms are shifting their focus toward long-term infrastructure, identity, and creator tools,” Gherghelas added.

Metaverse projects still in the works 

Companies are still working on launching metaverses as well, with artificial intelligence startup, Infinite Reality, acquiring the music-pirating app turned music streaming service Napster in March with plans to add a music-focused metaverse. 

Meanwhile, the Donald Trump-owned company DTTM Operations filed for trademarks back in February, connected with a metaverse and NFT marketplace built around the US President’s brand.

Magazine: Astrology could make you a better crypto trader: It has been foretold



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Chatbots can be manipulated through flattery and peer pressure
Gaming Gear

OpenAI reportedly signs $300 billion cloud deal with Oracle

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OpenAI and Oracle signed a deal “to purchase $300 billion in computing power over roughly five years,” one of the largest cloud computing deals ever, reports the Wall Street Journal.

In July, the two companies revealed their partnership to build data centers worth 4.5 gigawatts of power as part of the broader Stargate project they announced with Softbank and President Trump, without explaining how much OpenAI planned to pay for the datacenters. OpenAI’s contract will begin in 2027, according to the report.

While reporting quarterly earnings on Tuesday, Oracle CEO Safra Catz announced that three unnamed companies had signed “four multi-billion-dollar contracts” in Q1, part of a trend that she said is increasing Oracle’s cloud infrastructure revenue by 77 percent this year. Overall, the company said that in Q1 it added more than $317 billion in future contract revenue, a massive dollar amount that sent share prices soaring and Chairman Larry Ellison to the top spot of the world’s richest person list.



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Synthetix (SNX) price risks 10% drop as technicals flag bearish signs
NFT Gaming

Synthetix (SNX) price risks 10% drop as technicals flag bearish signs

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SNX price looks set for a deeper correction as technicals remain bearish for the asset, while its algorithmic stablecoin sUSD fails to maintain its peg to the U.S. dollar.

Summary

  • SNX price is down 10% over the past 7 days.
  • Synthetix’s sUSD stablecoin lost its peg to the U.S. dollar.
  • Price action has been confined within a descending parallel channel.

According to data from crypto.news, Synthetix (SNX) was trading at $0.66, down 9.5% over the last 7 days and 70% under its year-to-date high.

The main reason why SNX has been in a downtrend is the ongoing crisis in its sUSD stablecoin.

The stablecoin has failed to maintain its peg to the U.S. dollar ever since it introduced changes to how sUSD is issued and backed under an improvement proposal in April 2025.

The stablecoin’s price fell as low as $0.73 shortly following the move. While it managed to recover to $0.97 over the next two months, the stablecoin’s price faced another major drop to $0.841 in July. At press time, sUSD was trading at $0.987, still short of its intended $1 peg.

sUSD’s failure to maintain its peg reflects a critical protocol weakness, which could continue to weigh on investor sentiment and dampen confidence in the broader Synthetix ecosystem.

Data from CoinGlass shows that open interest for SNX has dropped by 1% to $19.6 million, while the long/short ratio has fallen below 1. It reveals that a growing number of traders are positioned bearishly on SNX in the short term.

SNX had been trading within a descending parallel channel for the past week on the 4-hour chart. A descending parallel channel is formed when an asset’s price forms lower highs and lower lows. This is considered a solid sign of bearish continuation.

SNX price has formed a descending parallel channel on the 4-hour chart — Sep. 5 | Source: crypto.news

When adding the Moving Average Convergence Divergence indicator to the mix, it had also turned downward. As such, it is safe to say the momentum for now would most likely be bearish.

On top of this, the RSI was at 45, which places it within neutral-to-weak territory, which is another confirmation that the price may continue heading downwards from current levels.

Considering the above, SNX is likely to target the $0.60 support level, which marks a 10% drop from the current price level.

If this support fails to hold, it could open the door to further losses, with a potential retest of its August low of $0.54 possible. 

Conversely, a breakout above the upper boundary of the descending channel would invalidate the bearish setup and could signal the beginning of a short-term trend reversal.



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