Daily News 19

Category: Coins

Digital assets, cryptocurrencies, blockchain, and currency news.

  • xLiquida Announces Plans for Tokenized UK Government Bonds

    xLiquida Announces Plans for Tokenized UK Government Bonds

    xLiquida Announces Tokenized UK Government Bonds Ahead of Mainnet Launch

    Blockchain platform xLiquida is generating significant attention with its announcement to launch tokenized UK government bonds, marking a pivotal milestone on the road to its mainnet debut. The development, highlighted by prominent CryptoTwitter commentator @arbitrum, underscores the platform’s ambition to bridge traditional finance with the blockchain ecosystem. By introducing these tokenized instruments, xLiquida aims to attract new users and investors while making crypto-based financial products more accessible.

    Platform Advances Programmable Economy Vision

    While the broader crypto market contends with mixed signals, xLiquida’s strategic pivot toward tokenizing UK government bonds stands out as a notable exception. The move demonstrates the platform’s commitment to innovative financial solutions and its goal of creating a more programmable economy. This initiative has the potential to draw significant interest from institutional investors seeking exposure to blockchain-based traditional assets. Market participants are monitoring the rollout closely, particularly against the backdrop of ongoing regulatory discussions surrounding digital assets.

    Key Developments at a Glance

    • xLiquida is preparing for its mainnet launch.
    • Tokenized UK government bonds are slated for imminent introduction.
    • The initiative aims to enhance the programmable economy.
    • The move could attract traditional finance participants to the crypto sector.
    • The announcement aligns with evolving regulatory framework discussions.

    Market Context and Token Metrics

    Currently, xLiquida reports no trading volume, suggesting the market is still digesting the news. The absence of significant price movement reflects the cautious sentiment prevalent across the wider cryptocurrency landscape. However, the announcement of tokenized government bonds could catalyze increased trading activity in the future, representing a potential inflection point for the platform.

    xLiquida’s core focus remains on bridging traditional finance with blockchain technology through innovative financial products. The introduction of tokenized government bonds aligns with broader financial sector trends where digital assets continue gaining traction. As regulatory bodies increase scrutiny of such developments, compliance will be crucial for the platform’s long-term success.

    What Traders and Investors Are Monitoring

    Market participants should track xLiquida’s mainnet launch timeline and the subsequent performance of the tokenized bond offerings. The potential for heightened institutional interest could trigger meaningful shifts in market dynamics. Additionally, monitoring regulatory developments will be essential, as evolving frameworks could significantly impact the broader acceptance and adoption of tokenized assets within traditional finance.

  • Ripple CLO Urges Senate to Hear Crypto Holders on CLARITY Act

    Ripple CLO Urges Senate to Hear Crypto Holders on CLARITY Act

    Ripple CLO Urges Senators to Hear From 67 Million Crypto Holders Before CLARITY Act Vote

    Ripple Chief Legal Officer Stuart Alderoty has called on undecided and opposing senators to meet with American cryptocurrency holders before a critical procedural vote on the CLARITY Act scheduled for September 15. In a public post, Alderoty said he contacted the offices of lawmakers who either oppose the bill or have not committed to a position, asking them to engage directly with constituents who own digital assets.

    Appeal Centers on Retail Holder Impact

    Alderoty argued that senators should listen to individual holders rather than limiting their discussions to lobbyists, industry executives, and trade groups. He based his appeal on research from the National Cryptocurrency Association, which estimates that about 67 million people in the United States own cryptocurrency. According to the association’s 2026 survey, around one in four American adults holds some form of digital asset.

    The Ripple executive said the size of the holder population gives individuals a direct stake in legislation that could change how tokens, trading platforms, and other crypto services operate in the United States. His request adds a retail-focused argument to a lobbying campaign that has largely centered on companies, banks, and Washington policy groups.

    Grassroots and Banking Campaigns Intensify

    Reuters reported on September 9 that Stand With Crypto supporters called or emailed members of Congress nearly 50,000 times during August. The advocacy group also arranged meetings and placed opinion articles in local newspapers as senators spent their recess working from their home states.

    Banking organizations have run their own campaign. According to Reuters, the Independent Community Bankers of America has asked local bankers to contact senators over provisions that the group believes could let digital tokens compete with bank deposits and reduce funds available for lending.

    CLARITY Act Faces 60-Vote Cloture Threshold

    The Senate’s September 15 action will not decide whether the CLARITY Act becomes law. Senators are expected to vote at about 2:15 p.m. ET on cloture for the motion to proceed, a step that would allow the chamber to begin formal debate on the legislation. Cloture requires support from 60 senators.

    Republicans hold 53 seats, meaning the bill needs votes from at least seven Democrats or independents, even if every Republican supports moving forward. Full Republican support is not assured, however. As crypto.news reported on September 8, some members of the party have raised concerns about presidential ethics rules, stablecoin rewards, and the treatment of decentralized finance. Republican defections would increase the number of opposition-party votes needed to cross the threshold.

    Senate Majority Leader John Thune filed cloture on the motion to proceed before the August recess, according to a recent bill breakdown. The filing placed the vote one day after senators are scheduled to return to Washington, leaving limited time for negotiations before the chamber acts.

    If cloture succeeds, senators could debate the bill, propose amendments, and later hold a separate vote on passage. Failure to secure 60 votes would prevent the chamber from taking up the measure under the scheduled process.

    Legislative Path and Market Structure Framework

    The legislation would create a federal market structure for digital assets and divide oversight duties between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Its rules would also help determine when a digital asset falls under securities law and when it should be treated as a commodity.

    After passing the House by 294 votes to 134 in July 2025, the measure advanced from the Senate Banking Committee in May 2026 by a 15–9 vote. Only two Democrats supported it at the committee stage, according to the earlier report, leaving Senate leaders with a more difficult calculation for the floor vote.

    Ethics Dispute Threatens Bipartisan Support

    Presidential ethics provisions remain one of the main obstacles in the Senate negotiations. Democrats have sought tighter restrictions on digital-asset activities involving the president, senior government officials, and their families. Their concerns have included crypto businesses connected to President Donald Trump and his relatives, including World Liberty Financial and the Official Trump meme coin. Democratic senators have argued that the pending language does not provide enough protection against conflicts of interest, illicit finance, and possible influence over federal policy.

    Republican lawmakers have offered competing views on whether enough compromise has already been made. Sen. Cynthia Lummis, one of the bill’s main supporters, has blamed Democratic demands for putting the legislation at risk while maintaining that the remaining differences can still be resolved.

    Sen. Mike Rounds gave a more cautious assessment, saying the bill’s prospects don’t look good right now. Sen. Thom Tillis also warned that the measure would fail if lawmakers and the White House showed no interest in closing the gap over ethics provisions.

    Stablecoin Rewards and DeFi Protections Debated

    Stablecoin rewards have created another dispute. Community banks contend that rewards offered on stablecoin balances could draw deposits away from insured banks, while crypto companies oppose restrictions that would prevent third parties from offering such payments.

    Lawmakers have also debated legal protections for decentralized finance software developers. Some senators want stronger safeguards for developers who do not control customer assets, while others have sought rules intended to address money laundering and other illicit financial activity.

    Implications for US Token Holders

    For American token holders, the bill’s division of authority between the SEC and CFTC could affect how trading platforms list assets and which federal rules apply to their transactions. The legislation would also set requirements for intermediaries operating in the U.S. digital-asset market.

    Supporters say a statutory framework would replace part of the uncertainty created when agencies apply existing securities and commodities laws to crypto products. Critics, including several Senate Democrats, have said any framework must include stronger consumer, financial-crime, and ethics protections.

    Ripple Leadership Pushes for Regulatory Certainty

    Ripple executives have repeatedly supported congressional action on crypto market structure. Earlier in September, CEO Brad Garlinghouse called for lawmakers to finish the country’s regulatory framework while saying that making the United States a global center for crypto remained within reach.

    Tight Timeline for Reconciliation

    Even if senators approve the motion to proceed and later pass the bill, the legislative process would not be complete. Any Senate text that differs from the House-approved version would need to be reconciled between the two chambers before it could go to the president.

    The House is scheduled to have only four legislative days in session after September 15 before another recess, giving lawmakers little time to review and approve any changes adopted by the Senate.

  • August 2026 Spot Trading Volume Reaches $510.4 Billion Across

    August 2026 Spot Trading Volume Reaches $510.4 Billion Across

    Global Spot Trading Volume Surges 19% to $510.4 Billion in August 2026

    Spot trading volume across 14 major cryptocurrency exchanges reached $510.4 billion in August 2026, representing a 19.0% month-over-month increase from July’s $429.0 billion, according to data shared by WuBlockchain. The surge signals strengthening participation from both institutional players and retail traders, with 13 of the 14 tracked exchanges reporting higher trading activity.

    Binance Commands Nearly Half of Total Market Share

    Binance dominated August trading with $243.1 billion in volume, capturing a substantial 47.6% market share. OKX and Coinbase followed with $46.9 billion and $40.9 billion respectively. Combined, the top three exchanges accounted for 64.8% of total spot volume, underscoring a continued trend of market concentration among leading platforms.

    Key August 2026 Trading Statistics

    • Total spot volume: $510.4 billion
    • Month-over-month growth: 19.0% (up from $429.0 billion in July)
    • Binance volume: $243.1 billion (47.6% market share)
    • OKX volume: $46.9 billion
    • Coinbase volume: $40.9 billion
    • Exchanges reporting growth: 13 of 14

    Market Implications and Trader Sentiment

    The 19% volume expansion reflects growing confidence among market participants despite mixed signals in the broader crypto landscape. Higher trading volumes typically correlate with increased liquidity, tighter spreads, and deeper order books—conditions that favor institutional engagement. Binance’s outsized share suggests the exchange continues to set the pace for market structure and price discovery.

    What to Watch Next

    Market observers should monitor whether August’s momentum sustains into September, as sustained volume growth often precedes meaningful price movements. The performance of dominant venues like Binance, OKX, and Coinbase will likely signal the trajectory of institutional adoption and overall market stability in the coming weeks.

    Disclaimer: This article is for informational purposes only and does not constitute financial advice.

  • PONS Crypto Commands 82% of Robinhood Launchpad Activity: What It Means

    PONS Crypto Commands 82% of Robinhood Launchpad Activity: What It Means

    $PONS token surged more than 16% in the past 24 hours, pushing daily trading volume above $155 million as the native asset of the leading Robinhood Chain launchpad defends a critical support level near $0.70. The rally comes amid a sharp acceleration in platform fundamentals, even as broader hype around the Robinhood Chain ecosystem cools.

    Fundamentals Go Vertical Amid Solana Chain Resurgence

    According to data from Dune Analytics, $PONS now commands 82.5% market share among Robinhood Chain launchpads — a new all-time high. The platform recorded 36,400 new token launches in a single day, generating $622 million in volume and pushing cumulative traded volume past the $10 billion milestone.

    Daily revenue remains firmly above $1.30 million, a notable achievement given that Solana’s Stonk launchpad recently surpassed $PONS in 24-hour revenue during a broader Solana chain resurgence. Revenue flows directly into the protocol’s buyback wallet, which now holds an all-time high of $3.40 million, with an additional $1.66 million sitting in unclaimed escrow.

    Capital in the buyback wallet is swapped for $PONS and burned, creating programmatic scarcity. Analysts note the wallet is being replenished faster than funds can be exhausted, suggesting sustained deflationary pressure on token supply.

    Technical Outlook: Bull Flag Resistance at $0.85

    On the $PONS/USDT chart (TradingView), the token is trading near the upper boundary of a bull flag continuation pattern after holding above $0.70 — a level that aligns with the mid-point of a prior descending trend channel. A decisive break above $0.85 would open the path toward a $1 billion fully diluted valuation, a target previously modeled by analysts.

    However, the Choppiness Index (CHOP) has risen to 53, signaling consolidation, while the MACD histogram shows only small green bars, indicating insufficient buyer momentum to force a breakout at this stage. Failure to clear resistance could prolong the correction and risk a breakdown below the $0.70 support.

    Key Takeaways

    • $PONS rallied 16%+ with volume exceeding $155M, defending the $0.70 level inside a bull flag structure.
    • Platform fundamentals hit record highs: 82.5% market share, 36.4K daily launches, $622M daily volume, $10B+ cumulative volume.
    • Buyback wallet at $3.4M ATH with $1.66M in escrow; burn mechanism accelerating faster than depletion.
    • Break above $0.85 needed to confirm bull flag and target $1B valuation; otherwise, consolidation or correction persists.
    • Token remains 22% below its $0.98 peak, leaving room for recovery if momentum builds.
  • Zora Co-Founder Dee Goens Replaces Jacob Horne as CEO

    Zora Co-Founder Dee Goens Replaces Jacob Horne as CEO

    Dee Goens has assumed the role of chief executive at Zora, succeeding co-founder Jacob Horne, who is departing after more than six years at the helm. Goens announced the leadership transition in a post on Wednesday.

    Leadership Change

    “After more than six incredible years as the company’s co-founder and CEO, Jacob is transitioning out of Zora and onto his next chapter,” Goens wrote. “I will be stepping into the CEO role as we continue building and stewarding Zora.”

    Staff Reductions and AI Integration

    Goens said Zora reduced headcount earlier this year and now operates with fewer than 10 people, a smaller team than at the start of the year. He did not disclose the previous headcount or the number of departures.

    “As a result, we’ve gotten more AI native with agents running throughout Slack, writing code, and resolving incidents,” he wrote.

    Shift to Custom Pairs

    The company has pivoted from the Creator Coins model it launched on Base last year to a focus on trading pairs across multiple networks. Zora opened Custom Pairs on August 20, allowing users to choose the asset a new token is paired against rather than defaulting to $ZORA or a Creator Coin. The feature is live on Base, Robinhood Chain, and Solana and carries a 1% trading fee, of which 0.70% goes to the token’s creator, according to Zora’s documentation.

    Goens said more than 4,000 pairs have been created since launch; Zora reported over 2,000 as of August 28. Over the summer, the protocol expanded to Robinhood Chain and Solana, added cross-chain trading across those two networks and BNB Chain, enabled trading through its agent in direct messages, and removed fees previously applied to DMs and comments. Zora also launched attention markets on Solana in February.

    Fee data from DefiLlama shows a steep decline on Zora’s Base deployment, the only one tracked. Fees totaled $14,768 in August, down 99.4% from $2.51 million in August 2025. Over the past 30 days, the deployment collected $14,971 in fees, of which $6,165 went to Zora, while its pools traded $551,284 in volume.

    Buyback Plans and Priorities

    Goens outlined five priorities for the remainder of the year, starting with “aligning our business with $ZORA token holders by implementing buybacks / rewards.” He provided no details on size, funding source, timetable, or mechanism. The remaining priorities are:

    • Rebuilding community trust by over-communicating progress
    • Onboarding new users with an emphasis on the mobile app
    • Restarting distribution of community incentives
    • Acting on feedback

    “There’s a ton of work for us to get through as we eye the end of the year,” he wrote.

    ZORA Token Performance

    $ZORA traded at $0.00814 at 19:52 UTC on Wednesday, down 8.5% over 24 hours, up 11.5% over seven days, and up 55% over 30 days, for a market capitalization of $36.3 million and a fully diluted valuation of $81.3 million, according to CoinGecko. The token remains 94.4% below its record high of $0.1456 reached on August 11, 2025.

    In the five minutes before Goens’ post at 18:02 UTC, the token was at $0.00831, implying a roughly 2% move since the announcement. Daily trading volume stood at $21.4 million. Ether traded at $2,466.98, down 0.4% over 24 hours.

    Horne’s Departure

    Horne describes himself on his personal site as “cofounder of Zora, previously at Coinbase.” He and Goens have worked together for more than six years. Horne led Zora through an NFT marketplace, an Ethereum Layer 2, and the June 2025 shift to Creator Coins, which made every Zora profile a tradable token. The Defiant reported in December that $ZORA slipped to $0.038 as the model’s highest-profile launch, the creator coin of journalist Nick Shirley, fell 79% from its record within 48 hours; the token has lost a further 79% since.

    “I’ll be sharing more on what I’m spending my time on next in the near future,” Horne wrote. “In the meantime I’m eternally grateful for the community, experiments, lessons and crazy journey over the past few years.”

    Goens said Horne is “not going too far” from crypto.

  • Ripple’s Stuart Alderoty Urges Senators to Hear From Crypto Holders Ahead of Clarity Act Vote

    Ripple’s Stuart Alderoty Urges Senators to Hear From Crypto Holders Ahead of Clarity Act Vote

    News aggregation platforms increasingly rely on citation metrics to determine the prominence and reliability of stories. The frequency with which a news item appears across multiple independent sources serves as a key indicator of its significance, allowing readers to examine events from diverse perspectives.

    Developers behind these applications are actively seeking user participation to enhance content detection. When readers encounter a published story and locate a related report from another outlet, submitting that secondary link helps improve the system’s ability to cluster coverage and surface comprehensive viewpoints.

    This collaborative approach aims to strengthen the news ecosystem by:

    • Identifying high-impact stories through cross-source verification
    • Reducing duplicate or redundant entries in feeds
    • Enabling multi-angle analysis of developing events
    • Improving algorithmic relevance for personalized news delivery

    Users who spot parallel coverage are encouraged to share those references directly through the platform’s submission tools, contributing to a more robust and transparent news aggregation experience.

  • Solana Foundation Assesses $116M Coldcard Wallet Breach Impact

    Solana Foundation Assesses $116M Coldcard Wallet Breach Impact

    Coldcard Wallet Breach Drains $116 Million, Exposing Seed Phrase Vulnerabilities

    A significant security breach targeting Coldcard hardware wallets has resulted in approximately $116 million in losses, drawing sharp attention to fundamental weaknesses in crypto wallet security practices. The Solana Foundation disclosed the incident, attributing the exploit to guessable seed phrases that allowed attackers to compromise user funds.

    Attack Vector: Predictable Seed Phrases

    According to the Foundation’s analysis, the breach did not stem from a flaw in the Coldcard device firmware itself, but rather from users generating or storing seed phrases with insufficient entropy. Attackers were able to brute-force or guess these weak recovery phrases, effectively bypassing the hardware security model entirely. The incident underscores a persistent risk in self-custody: the human element of seed phrase generation and management.

    Solana Foundation CISO Weighs In on Systemic Risks

    Michael Coates, Chief Information Security Officer at the Solana Foundation, addressed the breach and its broader implications during an appearance on the Bits to Bricks podcast. Coates emphasized that the Coldcard hack serves as a critical case study for the entire digital asset ecosystem, revealing gaps that extend beyond any single hardware provider.

    Calls for Audits and Rapid Defense Mechanisms

    The Foundation is advocating for more rigorous security audits across wallet infrastructure and the implementation of rapid incident response frameworks. The goal is to detect and mitigate similar attack vectors before they scale. Coates stressed that proactive defense, including real-time monitoring for anomalous derivation path activity, must become standard practice for wallet manufacturers and integration platforms alike.

    Impact on User Trust and Institutional Adoption

    Security analysts warn that high-profile losses of this magnitude erode retail confidence and complicate institutional onboarding. Custody due diligence processes are likely to tighten, with allocators demanding verifiable entropy sources, multi-factor seed generation, and independent penetration test reports before approving hardware wallets for treasury use.

    Market Context and Trader Guidance

    While broader crypto market signals remain mixed, the Coldcard incident has elevated security to a primary narrative driver. Trading desks and portfolio managers are advised to monitor emerging wallet security standards and regulatory guidance closely. Shifts in user behavior toward audited, multi-sig, or MPC-based solutions may accelerate, influencing capital flows across custody providers and decentralized finance protocols.

    This article is for informational purposes only and does not constitute financial advice.

  • Bitcoin Price Could Drop to $70K if $78K Neckline Breaks

    Bitcoin Price Could Drop to $70K if $78K Neckline Breaks

    Bitcoin Holds Near $78,500 as Technical Pressure and Macro Risks Mount

    Bitcoin (BTC) traded near $78,500 on September 9 after retreating from a September 3 peak of $82,283, a decline of roughly 4.6%. The pullback has extended a series of lower highs on the 4-hour chart, with buyers repeatedly defending the $78,000 area but failing to reclaim the psychological $80,000 level.

    4-Hour Technicals Show Fading Momentum

    On the 4-hour timeframe, Bitcoin sat at approximately $78,522, below the middle Bollinger Band at $79,079 and only slightly above the lower band at $78,015. Proximity to the lower band often signals increasing selling pressure, though the nearby support could also trigger a short-term bounce. A recovery above the middle band would be needed to weaken the immediate bearish setup.

    The upper Bollinger Band sits near $80,144, making the $80,000–$80,150 region the first major resistance zone. A daily close above that area would give bulls another chance to challenge recent highs around $81,500 and $82,300.

    The 4-hour Relative Strength Index (RSI) read 43.58, below both the neutral 50 mark and its signal average of 44.71, indicating bearish momentum without reaching oversold territory.

    Macro Headwinds: Oil, Yields, and Fed Policy

    Bitcoin’s decline coincided with a broader risk-off move driven by escalating Middle East tensions. Brent crude climbed to $99.22 per barrel on September 9, while West Texas Intermediate rose to $94.13, reviving fears that higher energy costs could keep inflation elevated.

    Rising inflation expectations affect Federal Reserve interest-rate projections. Higher rates and bond yields boost returns on lower-risk assets, creating competition for non-yielding assets like Bitcoin.

    U.S. Treasury yields added pressure. The benchmark 10-year yield surged above 4.85% after the Treasury announced a $6 billion buyback of older bonds (10- to 20-year maturities). The 30-year yield hit its highest level since 2007. Rising yields tighten financial conditions by increasing borrowing costs and reducing appetite for volatile assets.

    Traders are now focused on incoming inflation data and oil prices ahead of the Federal Reserve’s September 15–16 policy meeting for clues on whether the central bank will maintain a restrictive stance.

    Daily Structure Still Intact, but Head-and-Shoulders Looms

    Daily indicators remain less bearish. Bitcoin continues to trade above the daily Supertrend support at $72,786, meaning the broader recovery structure has not been invalidated despite the recent drop.

    The daily Aroon lines are closely matched at 57.14% and 50%, showing neither buyers nor sellers have established firm control on the higher timeframe.

    Crypto analyst Gerla identified a potential head-and-shoulders pattern, with the left shoulder near late-August highs, the head at the September 3 peak, and the right shoulder possibly forming during the latest rebound.

    “$78K–$79K is the line in the sand. Lose that and $70K could come pretty quick,” Gerla said in a Sept. 9 post on X.

    The pattern remains unconfirmed while Bitcoin holds its neckline. A decisive daily close below $78,000 would strengthen the bearish setup and expose the $76,000–$77,000 zone before the larger downside target near $70,000.

    Liquidation Heatmap Highlights Key Liquidity Zones

    CoinGlass’s three-day liquidation heatmap shows heavy leveraged-position clusters above current levels. The strongest nearby liquidity sits between roughly $79,700 and $80,200, with additional concentrations extending toward $82,000. These levels can act as magnets during high-leverage periods, though they do not guarantee price will reach them. A recovery through $79,100 could trigger short liquidations and fuel a test of the $80,000 cluster.

    Downside liquidity is concentrated near $78,000 and between approximately $77,500 and $77,800. A break below current support could accelerate volatility as leveraged longs are closed. Further liquidity appears around $76,000, aligning with the next technical support area beneath the proposed neckline.

    Key Levels to Watch

    • Immediate range: Lower Bollinger Band (~$78,015) to middle band (~$79,079). Holding $78,000 keeps a relief move toward $79,700–$80,150 in play.
    • Bullish trigger: Sustained break above $80,150 weakens the short-term bearish structure and puts $81,500 and $82,283 back in focus. Clearing the September peak would confirm a renewed uptrend.
    • Bearish confirmation: Daily close below $78,000 shifts focus to $77,500, then the wider $76,000–$77,000 support zone. The head-and-shoulders interpretation gains credibility below the neckline, though the daily Supertrend near $72,786 remains a critical barrier before the $70,000 scenario can develop.
  • Altcoin Surges Over 100% Following Token Burn Announcement

    Altcoin Surges Over 100% Following Token Burn Announcement

    IOST ($IOST) has emerged as one of the most notable altcoins in the cryptocurrency market after surging over 100% in value within the last 24 hours. The sharp price movement followed an announcement by the IOST Foundation confirming the permanent removal of 70 million IOST tokens from circulation.

    IOST Foundation Completes Token Burn

    The IOST Foundation announced that the burning of 70 million IOST tokens has been completed, permanently removing them from the total supply. The foundation stated that this process is part of its efforts to maintain a healthier supply structure while continuing to develop the IOST network and ecosystem.

    Large-Scale Binance Transfers Draw Attention

    Simultaneously with the price increase, large-scale IOST transfers on the Binance side also attracted attention. According to on-chain data, Binance transferred approximately $1.43 million worth of IOST from its cold wallet to its hot wallet and then began distributing the tokens to the exchange’s active liquidity addresses.

    According to the data, Binance has transferred over 285 million IOST between its active hot wallets so far. The transfers were mostly carried out in batches of 60 million to 75 million IOST, with an average price of approximately $0.00154. The value of the transferred 285 million IOST is estimated at approximately $440,000, while the main hot wallet still holds around 715 million IOST.

    This is not investment advice.

  • Institutional Whale Dumps Altcoin, Triggering 99 Percent Market Value Plunge

    Institutional Whale Dumps Altcoin, Triggering 99 Percent Market Value Plunge

    $LAPTOP, a memecoin associated with Hunter Biden, captured cryptocurrency market attention following a dramatic price collapse and significant on-chain sell-off immediately after its launch. Blockchain data reveals that market maker Wintermute has begun liquidating a portion of the $LAPTOKEN tokens allocated to it, while the token’s fully diluted valuation (FDV) has plummeted by more than 99% from its peak.

    Wintermute Begins Selling $LAPTOP Allocation

    According to on-chain analytics platform Lookonchain, Wintermute received a total of 2.5 million $LAPTOP tokens from the project team. The market maker has reportedly started selling these holdings on-chain, having already disposed of 466,255 $LAPTOP tokens at an average price of $4.47. The total value of these sales is estimated at approximately $2.08 million.

    Fully Diluted Valuation Collapses 99.43% in Two Hours

    The price decline reached extraordinary proportions within hours of the token’s debut. Data indicates that within the first two hours post-launch, $LAPTOP’s FDV crashed from a brief peak exceeding $300 billion to roughly $1.8 billion — a decrease of approximately 99.43%. Trading volume during this same window registered around $9.6 million.

    Airdrop Recipients Generate Substantial Returns

    On-chain analysis also uncovered that two newly created wallets receiving tokens from the $LAPTOP airdrop generated over $647,000 in combined revenue within a short timeframe. These addresses reportedly received a total of 4,276 LAPTOP tokens from Hunter Biden’s airdrop contract for Substack subscribers. One wallet earned approximately $404,000, while the other realized roughly $243,000.

    Further blockchain data revealed an ETH transfer between the two addresses. One wallet transferred USDC obtained from token sales to an address identified in open sources as belonging to Safe architect Florent, sparking speculation about a potential connection. However, this link remains unconfirmed.

    Market Commentary on the Collapse

    Serenity, commenting on the sharp decline in $LAPTOP’s value, stated that the token’s drop of over 99% after launch came as no surprise. Serenity argued that such token issuances do not create a positive overall outcome for individual investors and therefore does not support similar token launches.

    *This is not investment advice.