Day: April 10, 2025

Synthetix USD stablecoin loses dollar peg, drops to 5-year low of $0.83

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The Synthetix protocol’s native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg. The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February. Prices continued to fluctuate through February before stabilizing in March. On April 10, sUSD fell to a five-year low of $0.83, according to data from CoinGecko. SUSD is a crypto-collateralized stablecoin. Users lock up SNX tokens to mint sUSD,…

Bybit recovers market share to 7% after $1.4B hack

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Bybit’s market share has rebounded to pre-hack levels following a $1.4 billion exploit in February, as the crypto exchange implements tighter security and improves liquidity options for retail traders. The crypto industry was rocked by its largest hack in history on Feb. 21 when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets. Despite the scale of the exploit, Bybit has steadily regained market share, according to an April 9 report by crypto analytics firm Block Scholes. “Since this initial decline, Bybit…

XRP Price Forms Rounded Bottom Within Descending Channel, Target Set Above $3

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Despite breaking above $3 earlier this year, the XRP price has since gone on to disappoint investors with multiple crashes that have rocked the altcoin. This has seen the cryptocurrency lose almost 50% of its acquired value between late 2024 and early 2025. Nevertheless, this has failed to erode bullish sentiment, with predictions for higher prices dominating the community. Time To Go Long On The XRP Price? A crypto analyst on X (formerly Twitter) has renewed bullish hope after identifying an important formation on the XRP price chart. The analysis…

Solana (SOL) Jumps But Smacks Into $120 Resistance Wall—Can It Break Through?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

Crypto stocks see big gains alongside US stock market rebound

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Crypto stocks have surged as part of a broader recovery in the US stock market on April 9 following President Donald Trump’s 90-day pause on sweeping global tariffs. The Wednesday, April 9 trading day closed with Michael Saylor’s Strategy up 24.76% to $296.86, while crypto exchange Coinbase (COIN) closed up 17% to $177.09, according to Google Finance data. Crypto mining companies also saw gains, with MARA Holdings (MARA) up 17%, Cipher Platforms (CIFR) up 16.59%, and Riot Platforms (RIOT) rising 12.77%. Michael Saylor’s Strategy, formerly known as MicroStrategy, surged 24.76%…

OpenSea urges SEC to exclude NFT marketplaces from regulator’s remit

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Non-fungible token marketplace OpenSea has urged the US Securities and Exchange Commission to exclude NFT marketplaces from regulation under federal securities laws. The SEC needs to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws,” OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an April 9 letter to Commissioner Hester Peirce, who leads the agency’s Crypto Task Force. Faure and Brookover argued that NFT marketplaces don’t meet the legal definition of an exchange under US securities laws as…

81.6% of XRP supply is in profit, but traders in Korea are turning bearish — Here is why

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XRP has struggled to find sustained bullish momentum since reaching its cycle peak at $3.40 on Jan. 16, 2025. XRP (XRP) dropped as much as 46% over the past three months, but despite its recent drawdown, Glassnode data indicates that 81.6% of XRP’s current circulating supply remains in profit. While the profit supply percentage is down from its year-to-date high of 92%, the data set highlighted the retention value for holders despite the recent corrections. Percentage Supply in Profit for XRP, BTC, SOL ETH, TRX. Source: X.com Currently, only Tron…

Bitwise doubles down on $200K Bitcoin price prediction amid trade tension

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Institutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions. “In December, Bitwise predicted that Bitcoin would end the year at $200,000. I still think that’s in play,” Bitwise chief investment officer Matt Hougan said in an April 9 blog post.  He suggested that the fallout from US President Donald Trump’s global tariff push could be beneficial for Bitcoin (BTC) and crypto because his administration “wants a weaker dollar, even if it means ending its role as the…

Kraken lists WINkLink (WIN) with $90,000 Reef Program airdrop

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Share this article Singapore, April 8, 2025 — Kraken, one of the world’s leading cryptocurrency exchanges, has announced the listing of WINkLink (WIN) for spot trading, with new WIN/USD and WIN/EUR trading pairs. WINkLink is the first comprehensive oracle of the TRON ecosystem. The listing comes alongside the launch of the Reef Program, an airdrop campaign of $90,000 in WIN tokens. WINkLink, launched in 2019, is the first decentralized oracle platform in the TRON ecosystem, providing secure and efficient off-chain data services for smart contracts. WINkLink connects data between TRON’s…

3 reasons why Ethereum price keeps falling

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Ether’s (ETH) most recent sell-off saw it lose the crucial $1,500 support level, and a number of technical indicators suggest that ETH may witness a deeper correction before embarking on a sustained recovery. Data shows Ether’s price dropped below its realized price — an onchain metric that recalculates the market value of a cryptocurrency based on the price at which each coin last moved on the blockchain. According to CryptoQuant contributor, theKriptolik, ETH price trading below this metric, which is historically a bearish sign. When the realized price is above…