Daily News 19

Category: Coins

Digital assets, cryptocurrencies, blockchain, and currency news.

  • CoinMarketCap’s Altcoin Season Index Continues to Rise: Here’s the Latest Data

    CoinMarketCap’s Altcoin Season Index Continues to Rise: Here’s the Latest Data

    CoinMarketCap’s Altcoin Season Index climbed 2 points to 28, up from yesterday’s reading. Although the increase signals a modest improvement in altcoin performance relative to Bitcoin, the market remains well below the threshold for an altcoin season.

    Altcoin Season Index remains firmly in Bitcoin season territory

    The CoinMarketCap Altcoin Season Index measures the 90-day performance of the top 100 cryptocurrencies by market capitalization against Bitcoin. Stablecoins and wrapped tokens are excluded from the calculation. The index is widely used to gauge whether capital is shifting from Bitcoin into altcoins.

    An altcoin season is considered to have started when at least 75% of the top 100 cryptocurrencies outperform Bitcoin over a 90-day period. If that threshold is not reached, market conditions are classified as a Bitcoin season.

    Readings closer to 100 indicate market conditions that are more favorable to altcoins, while lower readings show that Bitcoin is outperforming the broader altcoin market. At 28, the current index indicates that altcoins have not established broad-based dominance.

    Bitcoin dominance continues to influence altcoin performance

    Bitcoin’s price movements and market dominance remain key factors in determining the overall direction of the cryptocurrency market. Changes in investor risk appetite, liquidity conditions, and Bitcoin’s upward or downward movements can have a direct impact on altcoin performance.

    While the index’s 2-point daily increase is positive for altcoins’ relative performance, it does not by itself confirm a trend reversal. For an altcoin season to develop, the index must rise further in the coming period, with a substantial share of the top 100 cryptocurrencies outperforming Bitcoin.

    Market participants are closely watching Bitcoin dominance, the performance of major altcoins, and further movements in the Altcoin Season Index to determine whether capital flows into altcoins are strengthening.

    This is not investment advice.

    Source: cryptonews.net

  • London Stock Exchange Partners With Payward to Bring the UK’s Largest Stocks On-Chain

    London Stock Exchange Partners With Payward to Bring the UK’s Largest Stocks On-Chain

    The London Stock Exchange (LSE) and Payward, the parent company of cryptocurrency exchange Kraken, have agreed to expand tokenized stock trading through Payward’s xStocks framework.

    The partnership builds on a platform that has scaled rapidly. In just over a year, xStocks have recorded more than $40 billion in total trading volume, with nearly $20 billion settled onchain. Payward said the products now have more than 200,000 holders.

    Read more: NYSE owner ICE taps tZERO for tokenized securities push, takes stake in firm

    Tokenized U.K. shares planned for global distribution

    The agreement could give U.K.-listed shares access to investors in more than 110 countries through blockchain infrastructure. However, xStocks are not currently available to investors based in the U.K.

    Subject to regulatory approval, the LSE said it will begin listing xStocks and support their trading on LSE 24, its recently announced 24-hour trading venue. The platform is expected to eventually cover tokenized equities from the United States, European Union, United Kingdom and Hong Kong, along with additional asset classes as the framework expands.

    The companies also plan to explore equity tokens issued natively by the LSE. This would allow LSE members to issue and service shares directly onchain while preserving full fungibility and the same rights attached to traditional stock.

    “For years, the assumption was that crypto and traditional finance were on a collision course, and one of them would have to lose. That was never the real story,” said Arjun Sethi, Payward’s co-CEO, in a statement.

  • Investor Interest in Ethereum ETFs Continues as Net Inflows Reach 11-Day Streak

    Investor Interest in Ethereum ETFs Continues as Net Inflows Reach 11-Day Streak

    Ethereum spot ETFs in the United States recorded $87.68 million in total net inflows on August 31, extending their positive inflow streak to 11 consecutive trading days, according to SoSoValue data.

    BlackRock’s ETHA leads Ethereum ETF inflows

    BlackRock’s Ethereum spot ETF, ETHA, recorded the largest daily inflow at $59.94 million. Since its launch, the fund has accumulated $12.797 billion in total net inflows.

    Grayscale’s Ethereum Mini Trust ETF ranked second, attracting $13.50 million in net inflows. Its cumulative net inflows reached $1.924 billion.

    Ethereum spot ETF assets reach $15.614 billion

    The total net asset value of Ethereum spot ETFs in the US has reached $15.614 billion. These funds account for 5.23 percent of Ethereum’s total market capitalization, based on the reported net asset ratio.

    Since their inception, Ethereum spot ETFs have recorded $13.062 billion in total net capital inflows. The uninterrupted inflow streak over the past 11 trading days points to continued interest in Ethereum among institutional investors and participants in traditional finance.

    BlackRock’s ETHA remains the leading Ethereum ETF by both daily and cumulative inflows. Its total inflows of more than $12.7 billion underscore the fund’s position among the Ethereum investment products attracting strong institutional demand.

    ETF flows remain a key Ethereum market indicator

    Investors are closely watching Ethereum ETF flows for signals about the cryptocurrency’s price direction. A sustained period of net inflows may support demand in spot markets, while future capital movements into and out of Ethereum funds are likely to remain a key focus in the coming days.

    This is not investment advice.

  • CME Overtakes Binance as Largest XRP Futures Venue

    CME Overtakes Binance as Largest XRP Futures Venue

    CME has overtaken Binance to become the largest platform for XRP futures open interest, marking a notable shift in the cryptocurrency derivatives market.

    The change comes as institutional interest in XRP continues to grow, with sustained inflows into spot XRP exchange-traded funds (ETFs) providing further evidence of rising demand from professional investors.

    Source: cryptonews.net

  • North Korean Hackers Move Tens of Millions on Hyperliquid as Trump Pushes to Bring Crypto Platform Onshore

    North Korean Hackers Move Tens of Millions on Hyperliquid as Trump Pushes to Bring Crypto Platform Onshore

    Kraken said compliance is central to its operations and that it uses blockchain analytics partnerships to monitor onchain activity and block assets linked to sanctioned wallets before they reach the exchange. A representative for Kraken told CoinDesk that “compliance is foundational to how we operate. Kraken maintains a best-in-class compliance program, including partnerships with leading blockchain analytics providers that continuously monitor onchain activity. These controls are designed to identify and block any assets associated with sanctioned wallets before they enter our platform.”

    LBank said it has consistently relied on industry-standard compliance tools for ongoing monitoring. However, the exchange acknowledged that the crypto industry is “inherently cross-platform, cross-chain, and cross-jurisdictional.”

    “As a result,” the spokesperson added, “relevant risks are often not generated by, or capable of being independently identified and addressed by, any single platform, but instead represent an ongoing challenge faced by the industry as a whole.”

    KuCoin said it could not verify or comment on the sanctioned-wallet activity without reviewing the underlying data. CoinDesk declined to provide that data before publication.

    “We would also note that public onchain data reflects the movement of assets but does not necessarily provide a complete picture of compliance actions taken by a centralized platform after assets reach the platform. Measures such as account restrictions, regulatory reporting, or other risk-control actions may occur at the account or platform level and may not be visible from public blockchain data alone,” the representative said, adding that the exchange “maintains sanctions compliance policies and procedures designed to meet applicable legal and regulatory requirements.”

    Lazarus Group’s Hyperliquid activity

    The Lazarus Group’s use of Hyperliquid could expose the platform to scrutiny from authorities if it violates U.S. sanctions laws. The activity comes as the Trump administration considers how Hyperliquid could be integrated into the regulated U.S. financial system.

  • OpenAI’s ‘Trust Us’ TIME Cover Revives an Old Warning for AI Bulls

    OpenAI’s ‘Trust Us’ TIME Cover Revives an Old Warning for AI Bulls

    “Trust us bro’ doesn’t work anymore. Time for someone checking what the AI is actually doing to humanity,” one X user wrote about the September 7 cover.

    Several other users expressed similar concerns. Adam Ghaida, founding engineer of AI-powered personal assistant Orchid, said that “Trust Us is probably the most ominous title they could’ve picked.”

    The criticism reflects a broader concern about whether enthusiasm for artificial intelligence has reached a peak. Non-business magazine and newspaper covers have historically served as contrarian indicators, often signaling tops in industry trends or market valuations, according to the late Paul Macrae Montgomery, a renowned stock and bond market forecaster who created the Magazine Cover Indicator.

    What the Magazine Cover Indicator signals

    Montgomery observed decades ago that when a general-interest magazine places an investment theme on its cover, much of the excitement surrounding that theme may already be priced in. In financial and societal terms, the idea may have become overbought.

    For the signal to be valid, Montgomery identified three conditions: the cover must appear in a mainstream magazine rather than a trade or business publication; it must focus on a widely understood idea; and the theme must have already experienced a significant price run-up.

    Time’s cover featuring the OpenAI founders meets all three conditions. Artificial intelligence is not only widely discussed around the world but has also attracted billions of dollars in investor capital, venture funding and capital expenditure.

  • Kalshi Issues First Lifetime Ban to Former Congressman George Santos

    Kalshi Issues First Lifetime Ban to Former Congressman George Santos

    George Santos did not attend the event, ultimately betting money on that outcome. In addition to banning him, Kalshi fined Santos more than $70,000 in an enforcement action late last week. Federal authorities have reportedly also been investigating the matter. Santos did not immediately respond to CoinDesk’s request for comment.

    Santos was expelled from Congress in 2023 as criminal investigations pursued the disgraced former lawmaker. He was serving a prison sentence for fraud when President Donald Trump commuted it last year.

    Kalshi said the Santos case was one of five new enforcement actions at the company. Under its regulatory obligations, the prediction-market platform is responsible for serving as a first line of defense against market manipulation. The other individuals received temporary trading bans after cooperating with Kalshi’s investigations.

    “Mr. Santos faces additional financial penalties and will be banned permanently from trading on Kalshi given his lack of cooperation,” a spokesperson said in a statement.

    The U.S. Commodity Futures Trading Commission, which regulates the industry, also fined a former White House aide for illicit trading late Friday. Gabriel Perez was ordered to pay more than $170,000 and received a three-year trading ban. The penalties were reduced after what regulators described as his “exemplary cooperation.”

  • CME’s Share of XRP Futures Surges as Token Rallies 40% in One Week

    CME’s Share of XRP Futures Surges as Token Rallies 40% in One Week

    A growing share of $XRP futures trading is shifting to CME as traders reduce leveraged positions across cryptocurrency exchanges.

    CME XRP open interest rises 36%

    Total $XRP open interest—the amount tied up in outstanding futures contracts—fell from about 2.77 billion tokens on Aug. 17 to approximately 2.34 billion on Aug. 31, according to CoinGlass data. Over the same period, the price of $XRP moved higher, rising from roughly $0.99 to $1.38.

    CME, the regulated U.S. futures exchange widely used by professional trading firms and investment managers, moved against the broader trend. $XRP open interest on CME increased from about 284 million tokens to 387 million, representing a rise of roughly 36%.

    CME captures a larger share of XRP futures exposure

    Across the rest of the market, futures positions declined by about 533 million $XRP, or 21%, during the two-week period. CME now represents roughly 17% of total outstanding $XRP futures exposure, up from about 10% in mid-August.

    CME’s expanding share is significant because many institutional investors prefer—or are required—to trade through regulated venues instead of offshore cryptocurrency exchanges. The increase therefore provides a rough indication that more professional capital may be entering the $XRP futures market.

  • Trump Jr.’s Firm Leads $1 Billion Polymarket Fundraising Round at $21 Billion Valuation: Report

    Trump Jr.’s Firm Leads $1 Billion Polymarket Fundraising Round at $21 Billion Valuation: Report

    Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round for prediction market Polymarket, valuing the company at $21 billion, a firm spokesperson said Monday.

    1789 Capital is contributing about $300 million to the round, spokesperson Alexa Henning said. The firm has already invested roughly $200 million in Polymarket.

    The latest funding values Polymarket 40% higher than its previous valuation of about $15 billion just months ago, highlighting the rapid growth of prediction markets.

    Polymarket and Kalshi expand prediction market business

    Polymarket and rival platform Kalshi allow users to wager on outcomes ranging from statements a president may make in a speech to which contestants on a reality television show might get married. Both companies have expanded sharply over the past year.

    The Trump family’s involvement in the sector has grown alongside the industry. Trump Jr. became an adviser to Kalshi in 2025 and received shares valued at more than $300,000. He also advises Polymarket separately.

    President Donald Trump has taken an increasingly favorable position toward prediction markets during the same period. Michael Selig, Trump’s appointee to lead the Commodity Futures Trading Commission, which regulates prediction markets, has praised the companies and sued states seeking to regulate them.

    In May, Trump wrote on Truth Social that prediction markets would thrive under his leadership.

  • Bitcoin Holds Above $78,000 as HYPE Leads While Major Cryptocurrencies Slip on Hawkish Fed Bets

    Bitcoin Holds Above $78,000 as HYPE Leads While Major Cryptocurrencies Slip on Hawkish Fed Bets

    Oil is increasingly driving the rates market, with the U.S. 10-year Treasury yield rising to 4.78%. Traders now see roughly 64% odds of an interest-rate hike at the Federal Reserve’s September 16 meeting, up from about 36% before Chair Kevin Warsh’s Jackson Hole address. Gold fell to approximately $4,435 an ounce after gaining 10% in August.

    Bitcoin has held near $78,000 following a 23% rally, a sign that may be more significant than the rally itself. “Holding around $78,000 after a 23% surge is more telling than the surge itself,” said Yusuf Fakhro, partner at ARP Digital, in an email. He added that perpetual open interest is at its lowest level since May, while U.S. spot bitcoin ETFs recorded their strongest week of demand since October 2025. Together, those trends suggest the August advance was driven by spot demand rather than crowded leveraged positions that could trigger further selling.

    Bitcoin ETF flows have since weakened. Trading firm Wintermute recorded $924 million in bitcoin ETF inflows during nine consecutive positive sessions before a $202 million outflow ended the run on Friday. Bitcoin has been rejected at the $82,000 level each time since.

    “Market’s on edge but lacks directional conviction in the short term,” said Jasper De Maere, OTC trader at Wintermute, in an email.

    U.S. jobs data could set bitcoin’s next move

    Friday’s August payrolls report will be the final major labor-market indicator released before the September Federal Open Market Committee meeting. With interest-rate hike expectations already close to two-thirds, a stronger-than-expected jobs report could push Treasury yields higher and send bitcoin back toward the overnight low of $77,200.