The launch of mXRP, a yield-bearing version of XRP, sparked massive demand on its very first day. Strobe Finance, the XRPL-based DeFi platform behind the launch, confirmed that the initial cap was sold out in less than an hour, forcing the team to raise the supply cap to 882,000 mXRP.
The main catalyst for Ethereum’s downward trend was the exit of investors from high-risk assets, which began after the strengthening of the U.S. dollar. Rising yields on U.S. government bonds and the risk of a government shutdown after October 1 further fueled the flight to safe-haven instruments, according to experts from a Japanese company.
Shares of Australian fitness equipment manufacturer Fitell dropped 21% after the company announced the purchase of over 46,000 Solana (SOL) worth nearly $10 million.
Bitcoin slipped slightly on Wednesday, extending a bearish trend triggered by a sharp wave of liquidations earlier this week, as traders weighed cautious remarks from Federal Reserve Chair Jerome Powell and awaited key U.S. inflation data.
According to experts, the leading cryptocurrency has stabilized after a massive liquidation of positions that occurred on September 22. On that day, the total amount of closed positions exceeded $1.7 billion.
The supply of stablecoins has reached an all-time high of $283.2 billion, and this is not the sector’s only record. According to Token Terminal data, the number of monthly stablecoin senders hit 25.2 million, also the highest level in history.
According to Folkman, users will be able to link their USD1 stablecoins and the World Liberty Financial app directly to Apple Pay. The debit card is expected to complement the upcoming application.
On Monday, crypto traders faced liquidations of over $1.5 billion in long positions, triggering a sharp sell-off in Ether and several other coins.
As of 09:03 (06:03 GMT) on Monday, Cardano traded at $0.7936, according to the Investing.com index, falling 11.79% that day. This was the most significant drop in the cryptocurrency's value since April 6.
The market cap of the new mUSD stablecoin from the MetaMask wallet quickly surged to $65 million within a week of its launch, up from $15 million at the start.
The cryptocurrency Solana has regained momentum, breaking key resistance levels and attracting attention from institutional buyers. On Tuesday, September 16, SOL traded at $234.85, adjusting after reaching an eight-month high of $249.12 two days earlier.
According to Tom Lee, these two cryptocurrencies will offer excellent investment opportunities to the market, particularly due to their sensitivity to monetary liquidity.
The analytical department of Citibank published a report predicting that the price of the second-largest cryptocurrency could fall to $4,300 by December 31.
The issuance and management of the native stablecoin are carried out through the Bridge platform, acquired by Consensys in February, as well as the decentralized platform M0. The stablecoin’s liquidity is backed by U.S. Treasury bond reserves, the project team assured.
Forward Industries Inc. (FORD) has acquired 6.8 million Solana (SOL) tokens at an average price of $232 per token, for a total of approximately $1.58 billion, according to the company’s statement.
According to experts, this means that short-term Bitcoin holders have once again started selling assets at a loss. Until early September, the SOPR value had remained above the “1” mark — the break-even level — for more than four months, signaling retail speculators’ confidence in the cryptocurrency’s positive trend.
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