Daily News 19

Tag: coinbase

  • Liquidity Providers Move $6.8M in ONDO: More Sell Pressure Ahead?

    Liquidity Providers Move $6.8M in ONDO: More Sell Pressure Ahead?

    Institutions Move $6.8M in ONDO Tokens to Exchanges as Altcoin Holds Key Range

    Centralized exchanges and market makers are actively sourcing liquidity for Ondo Finance’s $ONDO token on behalf of institutional clients, transferring over $6.83 million worth of tokens across major trading venues in recent days. The activity has raised questions about whether institutions are preparing to sell or if fresh demand is emerging for the altcoin.

    Major Token Transfers Tracked Across Exchanges

    According to on-chain analyst Nazoku, three significant transfers have taken place:

    • FalconX sent $3.89 million of $ONDO to Binance.
    • Ondo Finance moved $1.46 million of $ONDO to Coinbase as part of a planned 4 million token transfer.
    • Coinbase transferred $1.48 million of $ONDO to Bybit.

    Historically, similar exchange inflows have preceded periods of price weakness, often signaling that large holders are positioning for sales. However, the market reaction so far has been muted.

    ONDO Price Action Remains Range-Bound

    Despite the notable token movements, $ONDO has continued trading in a tight corridor between $0.34 and $0.35. At press time, the token was changing hands near $0.34, down just 0.97% on the day. Trading volume declined sharply by 39% to $56 million, suggesting the transferred tokens have not yet been sold into the open market.

    While the price holds, the underlying market structure remains fragile and tilted to the downside.

    Technical Indicators Signal Continued Downside Pressure

    Data from TradingView shows the Awesome Oscillator has printed negative values for four consecutive sessions, indicating that short-term momentum is weaker than the longer-term trend. Additionally, $ONDO continues to trade below both its short-term and long-term moving averages, reinforcing the bearish bias.

    Derivatives Lead the Sell-Side Pressure

    Analysis of futures flows via CoinGlass reveals that the current weakness stems primarily from the derivatives market. Over the past week, $ONDO futures recorded $444 million in outflows versus $410 million in inflows, producing a net outflow of $34 million — a 102% drop in netflow that points to aggressive position unwinding.

    Spot Market Shows Resilient Demand

    Contrasting the futures exodus, spot market data from Coinank shows persistent buying interest. The market delta — a measure of aggressive buying versus selling — remained positive over the past week, sitting at approximately 2.1 million at press time, down slightly from 2.5 million the prior day.

    Crossroads: Sideways Action Likely Unless Sell Pressure Intensifies

    The divergence between heavy derivatives selling and steady spot accumulation has locked $ONDO in a sideways range. If current dynamics persist, the token is likely to continue hovering between $0.34 and $0.35. However, should the recently transferred tokens hit the market, increased sell pressure could break the range and push price toward the $0.32 level.

    Key Takeaways

    • CEXs and market makers moved $6.8 million in $ONDO to exchanges, likely for institutional liquidity needs.
    • $ONDO remains range-bound between $0.34–$0.35 with bearish technical structure intact.
    • Futures netflows turned deeply negative (-$34M), while spot delta stays positive.
    • A break below $0.34 could trigger a move toward $0.32 if institutional tokens are sold.
  • Ethereum Volatility Surges After Wintermute’s $160M Deposit; ETH Rebound Hinges on Key Condition

    Ethereum Volatility Surges After Wintermute’s $160M Deposit; ETH Rebound Hinges on Key Condition

    Ethereum Price Volatility Intensifies as Wintermute Moves $160M ETH to Exchanges

    Ethereum ($ETH) experienced sharp volatility after briefly reclaiming the $2,500 level and climbing toward $2,600 before pulling back toward $2,400. At press time, the asset traded near $2,524, reflecting a 2.26% daily gain and a 2% weekly increase. The pullback coincided with significant large-holder activity, though exchange supply metrics present a more nuanced picture of market dynamics.

    Wintermute Deposits 61,847 ETH to Binance and Coinbase

    Lookonchain reported that Wintermute deposited 61,847 $ETH worth approximately $160.3 million into Binance and Coinbase. The transfer initially raised selling concerns among market observers. However, an exchange deposit does not confirm a sale. Market makers regularly move inventory between venues for liquidity provision and operational purposes.

    Source: Arkham

    If intended for liquidity provision, the transfer may not represent directional selling. Nevertheless, market sales from that inventory could increase short-term supply and create downside volatility. The transfer matters, but its purpose determines whether it translates into genuine selling pressure.

    Ethereum Exchange Supply Ratio Hits 2016 Lows

    Despite Wintermute’s deposit, Ethereum’s broader Exchange Supply continued falling. AMBCrypto previously reported that Ethereum reserves on Binance had reached a three-month low. While Binance represents a single venue, the Exchange Supply Ratio (ESR) showed that the decline extended across exchanges.

    Source: CryptoQuant

    ESR declined for ten consecutive days and reached 0.125 at press time. The metric had not visited this level since 2016. Its decline indicates that exchanges hold a smaller share of Ethereum’s circulating supply. This suggests the market absorbed individual deposits without creating a broad buildup of immediately sellable $ETH.

    Historically, lower Exchange Supply can reduce selling pressure. The harder question remains why $ETH remained weak as its liquid supply contracted.

    Whale Distribution Outpaces Accumulation

    Source: SwissIntelligence

    SwissIntelligence data showed that 196 whales were distributing $ETH, compared with 125 accumulating. This imbalance suggests that large-holder selling continues to weigh on $ETH as whales secure modest gains.

    Technical Indicators Signal Seller Advantage

    Source: TradingView

    The True Strength Index has declined since forming a bearish crossover several days earlier. At the same time, the Balance of Power remained negative. Together, both indicators show that sellers retain a short-term advantage despite declining exchange balances.

    Key Price Levels and Scenarios

    $ETH is caught between fewer immediately sellable coins and more whales willing to sell. If whale distribution continues, $ETH could revisit $2,300 if Wintermute’s transfer becomes market sales. By contrast, shrinking Exchange Supply could help $ETH reclaim $2,600 and target $2,800 if demand returns. The next move may reveal whether buyers can absorb whale sales without losing the emerging supply squeeze.

    Final Summary

    • Wintermute deposited 61,847 $ETH worth $160.3 million into Binance and Coinbase.
    • Ethereum’s Exchange Supply Ratio reached 2016 levels, yet whale distribution continued weakening price momentum.
  • Coinbase CEO: “$400,000 Is a Reasonable Target for Bitcoin”

    Coinbase CEO: “$400,000 Is a Reasonable Target for Bitcoin”

    Coinbase CEO Brian Armstrong Projects $400,000 Bitcoin by 2030

    Coinbase CEO Brian Armstrong has reiterated his long‑term bullish outlook for Bitcoin, stating that a price of $400,000 by 2030 is a “reasonable target.” In a recent interview, Armstrong outlined the key drivers behind his prediction, citing market cycles, evolving U.S. regulation, and growing institutional capital inflows.

    Bitcoin’s Four‑Year Market Cycle Nearing a Turning Point

    Armstrong emphasized that Bitcoin continues to follow an approximate four‑year cycle characterized by a strong rally, a period of euphoria, and a subsequent correction. He noted that the current downturn may be approaching its end.

    “Typically, there’s a rise, then a period of euphoria, and then a decline. Most declines last about a year, and we’ve already passed the one‑year threshold in the current decline.”

    Pointing to Bitcoin’s rebound from support around $60,000, Armstrong expressed confidence that the cycle bottom is behind us.

    “Personally, I believe that the bottom of this latest cycle in Bitcoin is behind us. We’ve already seen it start rising from around $60,000.”

    Regulatory Clarity and the CLARITY Act

    Regulatory developments in the United States play a significant role in Armstrong’s $400,000 forecast. He highlighted the CLARITY Act, a bill designed to establish a clearer legal framework for cryptocurrencies. While passage of the act would be a major milestone, Armstrong argued that Bitcoin’s upward trajectory does not depend solely on its success; subsequent regulatory rules could also shape the market’s direction.

    Armstrong described the legislation as a “regulatory checkbox” that would remove substantial uncertainty for banks and asset managers, potentially unlocking a wave of institutional investment.

    “This would be a huge milestone. It could pave the way for institutional capital and bring products like tokenized shares to the US. That would be very positive for the industry.”

    Macro Tailwinds: Bond Market Pressure and Alternative Assets

    Beyond crypto‑specific factors, Armstrong pointed to stress in global bond markets as a catalyst for demand for alternative stores of value such as Bitcoin. If these macroeconomic pressures combine with regulatory progress and the natural market cycle, he believes Bitcoin could enter another strong bull phase in the coming years, ultimately reaching the $400,000 level by 2030.

    *This is not investment advice.

  • Coinbase, Moov Bring Stablecoin Payments to 1,000+ Community Banks

    Coinbase, Moov Bring Stablecoin Payments to 1,000+ Community Banks

    Coinbase and payments platform Moov have formed a partnership designed to bring stablecoin payments and custody capabilities to the technology stacks used by more than 1,000 U.S. community banks and credit unions. Announced by Coinbase, the agreement will see Moov integrate Coinbase’s stablecoin infrastructure into its existing payments platform, giving financial institutions a turnkey way to offer stablecoin services without having to independently build wallets, blockchain connections, or other crypto infrastructure.

    The planned services span consumer payments, merchant acceptance, settlement, payouts, and real-time funding. Neither company disclosed a launch date or identified which banks and credit unions will be the first to roll out the services.

    How the Partnership Splits the Work

    Coinbase will supply the digital-asset infrastructure underpinning the collaboration. Moov intends to leverage Coinbase Developer Platform’s Custodial Wallet accounts to hold funds and its Payments API to coordinate stablecoin transfers, extending the always-on settlement advantage that is driving stablecoin rails to replace traditional wire transfers. Moov will connect these capabilities to the payment systems already used by its financial-institution customers. Its platform currently links more than 1,000 community banks and credit unions to services including card acquiring, card issuing, and real-time payment rails.

    The integration does not mean every institution connected to Moov will immediately offer stablecoin products. Each bank or credit union will still need to decide whether to participate and determine how the services fit within its compliance and risk-management requirements.

    Coinbase Announces the Partnership on X

    Banks benefit from crypto.We’re partnering with @Moov to provide small and community banks the infrastructure for stablecoins.That means acceptance, settlement, and real-time funding for more than 1000 of them, through the tech stacks they already use.This is what regulated… pic.twitter.com/sS8NNIVZBF
    — Coinbase 🛡️ (@coinbase) September 10, 2026

    Why Community Banks Are Exploring Stablecoins Now

    Stablecoins can move outside conventional banking hours, potentially allowing merchants to receive funds on weekends and holidays. They may also provide an additional settlement option for businesses already receiving payment requests in digital dollars. Wade Arnold, Moov’s co-founder and CEO, noted that business customers are increasingly being asked to accept stablecoins but often must leave their primary financial institution to do so. The partnership is designed to let community institutions provide that connection themselves. Jill Castilla, CEO of Citizens Bank of Edmond, linked the technology to demand from small businesses seeking faster payments and lower interchange costs.

    However, stablecoin transfers still create custody, compliance, fraud, liquidity, and operational risks. Faster blockchain settlement does not guarantee that customers will receive immediate access to bank deposits, since conversion and compliance reviews may add separate processing steps.

    A Partnership Arriving Amid an Active Policy Debate

    The announcement arrives as banks and crypto companies continue to debate the treatment of stablecoins under U.S. legislation. Lawmakers are considering the Clarity Act and rules affecting stablecoin rewards, payment activity, and the division of oversight between financial regulators—a dynamic explored in recent comparisons of the Clarity Act versus the GENIUS Act. Community-banking groups have warned that stablecoins offering yield-like incentives could draw deposits away from smaller institutions. Coinbase and Moov are taking a different approach by positioning community banks as distribution partners for stablecoin services rather than competitors to them.

    The Details That Will Determine How This Rolls Out

    The first participating institutions, supported stablecoins, blockchain networks, pricing, and rollout schedule have not been disclosed. More information will also be needed on how customer funds will be held, converted, reported, and protected within each institution’s service.

    What This Means for You

    The partnership could let customers and businesses access stablecoin payments through familiar local institutions instead of relying entirely on standalone crypto platforms. Its practical impact will depend on how many Moov-connected banks adopt the services and what custody, conversion, and withdrawal terms they offer.

    This is not financial advice. Stablecoins and digital-asset custody involve regulatory, operational, counterparty, liquidity, and technology risks. Availability will depend on participating institutions and applicable requirements.

  • Coinbase Targets 1,000 Banks With Moov Stablecoin Deal

    Coinbase Targets 1,000 Banks With Moov Stablecoin Deal

    Coinbase and Moov Partner to Bring Stablecoin Payments to Over 1,000 U.S. Community Banks

    Coinbase has announced a strategic partnership with payments infrastructure provider Moov to connect more than 1,000 U.S. community banks and credit unions with stablecoin payments, custody, merchant settlement, and real-time funding capabilities. The announcement, made on September 10, 2026, positions the collaboration as a way for smaller financial institutions to offer digital asset services without building their own blockchain systems.

    Shared Infrastructure Model for Community Institutions

    Moov, which provides card acquiring, card issuing, and real-time payment connections to institutional customers, will integrate Coinbase’s stablecoin infrastructure into the payment systems already offered to its financial institution clients. The companies did not disclose a commercial launch date or identify the first participating banks.

    Under the arrangement, Coinbase will supply digital asset custody and payment tools, while Moov will connect those capabilities with the systems used by its community bank and credit union customers. Moov plans to use Coinbase Developer Platform Custodial Wallet accounts to hold funds, and Coinbase’s Payments API will coordinate stablecoin transfers. This design allows Moov to embed blockchain functions inside its existing payment product.

    The companies identified consumer payments, merchant acceptance, merchant settlement, and payouts as initial applications. Business and merchant transactions will use Coinbase custodial accounts with disclosed ownership, according to the release.

    Executive Perspectives on the Partnership

    Coinbase highlighted the partnership in a social media post:

    Banks benefit from crypto.We’re partnering with @Moov to provide small and community banks the infrastructure for stablecoins.That means acceptance, settlement, and real-time funding for more than 1000 of them, through the tech stacks they already use.This is what regulated… pic.twitter.com/sS8NNIVZBF

    Ryan VanGrack, Coinbase vice chair and head of corporate affairs, stated that community financial institutions have watched customers use digital assets for years. Through Moov, Coinbase plans to place its infrastructure “right into their existing systems,” he said.

    Moov CEO Wade Arnold noted that business customers already receive requests to accept stablecoins and often leave their primary financial institution to obtain the service. He described acceptance and disbursement as the immediate products, with continuous funding presented as a possible later use.

    Banks Retain Customer Relationships and Control

    Moov will serve as the connection between Coinbase and participating institutions. Banks and credit unions can continue managing their customer accounts and local relationships while using third-party infrastructure for blockchain custody and payments. The partnership does not turn participating banks into stablecoin issuers.

    Coinbase described the arrangement as a way for institutions to offer payment and custody services, with no announcement made about a community bank creating its own dollar-backed token. Citizens Bank of Edmond Chairman and CEO Jill Castilla was quoted in the announcement noting that small businesses are seeking lower interchange costs and faster access to payments, though Coinbase and Moov did not confirm that the Oklahoma bank will become an initial customer.

    Regulatory Context and Compliance Considerations

    Under the Federal Reserve’s definition, its community bank program covers domestic state member banks, bank holding companies, and savings and loan holding companies with less than $10 billion in total assets. Other agencies supervise community institutions operating under different charters. Federal Reserve examinations usually take place every 12 months, with some eligible banks examined every 18 months depending on size, condition, and other factors.

    Coinbase and Moov did not describe how participating institutions will divide compliance duties involving customer identification, transaction monitoring, sanctions screening, or suspicious-activity reporting. Each bank will remain subject to its applicable federal and state obligations.

    Stablecoin Details and Operational Parameters Remain Undisclosed

    Neither company named the stablecoins or blockchain networks that the integration will support. Coinbase’s developer platform offers access to USDC and custom stablecoin products, but the announcement did not confirm which assets Moov’s customers will receive.

    Details covering transaction fees, conversion charges, redemption, insurance treatment, and user eligibility remain undisclosed. The partners did not say whether financial institutions would hold stablecoins directly or provide customers with balances backed by assets held in Coinbase custody. The announcement refers to “fully disclosed custodial accounts” for business and merchant payments without publishing the account terms.

    Diverging Models in Bank Stablecoin Adoption

    Large banks are pursuing stablecoin projects through structures that differ from Coinbase and Moov’s service-provider model. U.S. Bank disclosed a live cross-border test on September 9 involving USBDC, its proprietary dollar-backed token. As previously reported, U.S. Bank transferred USBDC between North American and European entities on the Stellar public blockchain, testing minting, redemption, freezing, and clawback functions while maintaining links with the bank’s finance, risk, and compliance systems.

    U.S. Bank did not make USBDC available to customers or external institutions. The bank released a Stellar issuer address but withheld the payment amount, transaction hash, reserve structure, and public rollout timetable.

    Coinbase and Moov are proposing shared infrastructure that can serve many institutions, centering on payment acceptance and custody through Coinbase instead of asking every participating bank to create a separate token and issuance platform. Banking technology providers are forming other institutional networks around tokenized deposits and digital assets. In related coverage, Cosmos formed a 17-member banking infrastructure network with participants including BitGo, Galaxy, and OpenZeppelin.

    The Coinbase partnership does not state whether Moov’s banks will work with tokenized deposits, which represent bank liabilities on blockchain infrastructure. Its announced scope covers stablecoins, custodial accounts, and payment movement.

    Federal Stablecoin Framework Sets Participation Requirements

    The GENIUS Act created a federal framework for payment stablecoins in July 2025. The law restricts issuance to permitted entities and requires one-to-one backing with qualifying liquid assets. Bank subsidiaries may issue payment stablecoins under the supervision of their federal banking regulator. State-qualified issuers can operate through certified state regimes, while nonbank firms may seek federal approval from the Office of the Comptroller of the Currency.

    Payment service providers remain subject to anti-money-laundering and sanctions requirements regardless of whether they issue tokens. Stablecoins are not automatically covered by federal deposit insurance, even when their reserves include deposits held at an insured bank.

    For the Coinbase-Moov arrangement, the applicable responsibilities will depend on the asset used, the custody structure, and the services offered by each institution. The companies have not published contracts explaining how losses, frozen transactions, redemption requests, or operational failures would be handled. Coinbase describes its digital asset infrastructure as regulated, but the announcement does not name the Coinbase legal entity that will hold each category of customer or merchant funds.

    No Public Rollout Date or Pilot Participants Announced

    Implementation will require Moov to integrate Coinbase’s wallet and payment interfaces before individual banks can offer the services. Each participating institution may need internal approval, compliance testing, and vendor-risk reviews based on its regulator and operating model.

    No bank has announced a customer launch through the partnership. Coinbase and Moov have not disclosed pilot participants, supported payment corridors, minimum transaction amounts, or settlement currencies. Future functions described by the companies remain plans. Coinbase said acceptance, settlement, and real-time funding are starting areas, while later work could connect digital assets with other products offered by community institutions.

    Moov said continuous funding could let institutions move value during weekends and holidays. The company has not released performance results showing settlement times, transaction capacity, or costs for the planned service. Coinbase and Moov have not provided a deadline for completing the technical integration or opening stablecoin services to the first community bank customers.

  • Crypto Wins Regardless of Clarity Act Vote, Coinbase’s Armstrong Says

    Crypto Wins Regardless of Clarity Act Vote, Coinbase’s Armstrong Says

    Coinbase CEO Highlights Bipartisan Progress on Crypto Legislation, Flags Ethics Negotiations

    Coinbase CEO Brian Armstrong said significant bipartisan progress has been made on comprehensive cryptocurrency legislation, though key ethics provisions for elected officials remain under negotiation.

    Broad Coalition Backs Measure

    Armstrong described the legislative process as collaborative, noting extensive input from stakeholders across the political spectrum and industry.

    “There’s been a lot of good bipartisan compromise, hundreds of pages of input from both sides,” he said, adding that law enforcement groups, banks and crypto companies are behind it.

    He confirmed that the “must-have issues” Coinbase had previously raised “have now been resolved.”

    Ethics Provisions for Officials Still Unresolved

    One outstanding issue involves ethics rules for elected officials who hold digital assets. When asked whether the legislation adequately addresses potential conflicts of interest, Armstrong indicated negotiations are ongoing.

    “the details are still being worked out and negotiated.”

    He outlined the current positions:

    the White House has “already put out an offer on the table that has a very strong ethics provision,” while Democrats “have requested something a little bit beyond that, which would include divestiture.”

    Despite the gap, Armstrong expressed optimism that a resolution is near.

    “appear to be very close to a solution.”

    Armstrong Pushes Back on Regulatory Arbitrage Claims

    Responding to criticism from JPMorgan Chase CEO Jamie Dimon — who has accused Coinbase of leveraging the bill’s stablecoin provisions for regulatory arbitrage against traditional banks — Armstrong did not name Dimon directly but characterized the opposition as self-interested.

    critics with large payments businesses face a “competitive issue” and are “talking their own book.”

    Armstrong countered that major financial institutions support the legislation, citing Goldman Sachs, BNY Mellon and Fidelity as backers.

    Agentic Finance Identified as Next Growth Frontier

    Looking beyond current legislative fights, Armstrong pointed to agentic finance as an emerging area with significant potential.

    “still early, but that’s the big TAM that’s on the horizon.”

  • 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.

  • Hunter Biden Defends Laptop Ahead of Wednesday Launch, Calls Trump a ‘grift’

    Hunter Biden Defends Laptop Ahead of Wednesday Launch, Calls Trump a ‘grift’

    A new cryptocurrency token called LAPTOP has sparked immediate controversy following its announcement, drawing sharp criticism from traders and prompting several high-profile industry figures to distance themselves from the project.

    Creator Warns Buyers Not to Expect Value Creation

    The individual behind the token issued a blunt warning to potential buyers via X, stating explicitly that no effort would be made to increase the asset’s value.

    “You should not expect me or anyone else to make this token more valuable for you. LAPTOP isn’t just about owning something, it’s about saying something.”

    The post arrived amid a hostile reaction from crypto traders over Monday and Tuesday.

    Exchanges and Influencers Pull Back

    Kraken, one of the largest cryptocurrency exchanges, deleted a promotional post about LAPTOP after traders criticized the exchange for amplifying the project.

    Andrew Callaghan, the video journalist behind Channel 5, also distanced himself from the token after learning his audience had been included in a planned token distribution without his consent.

    Base Blockchain Denies Partnership

    Executives at Base, the Coinbase-built layer-2 blockchain where LAPTOP is set to launch, stressed that the network had no formal partnership with the token.

    Base founder Jesse Pollak confirmed the project had approached his team, but said Base made a “conscious decision” not to assist with the token’s design or promotion.

    Token Draws on Infamous Laptop History

    The LAPTOKEN project references the laptop that became a focal point of political controversy. Data said to have come from the device included emails about overseas business dealings as well as deeply personal photos, messages, and videos involving drug use and private life. The laptop spawned years of political attacks and thousands of online memes.

    The token’s creator is now attempting to convert that notoriety into a cryptocurrency asset.

    “They turned laptop into a weapon. I turned it into a token.”

  • Unit xyz Moves to Acquire $15 Million in HYPE on Coinbase, Increasing Holdings to 1 Million Tokens

    Unit xyz Moves to Acquire $15 Million in HYPE on Coinbase, Increasing Holdings to 1 Million Tokens

    Unit xyz, a tokenization protocol within the Hyperliquid ecosystem, is reportedly preparing to purchase $15 million worth of $HYPE tokens through Coinbase. The transaction, highlighted by the Hyperliquid News X account, would increase Unit xyz’s total $HYPE holdings to 1 million tokens if completed.

    Why Unit xyz Is Increasing Its $HYPE Holdings

    The reported purchase comes as Hyperliquid expands its presence in the digital asset market and its native $HYPE token gains attention from institutional and retail investors. Acquiring tokens through a major exchange such as Coinbase may reflect a strategy of building exposure through a transparent, regulated venue.

    Tokenization protocols such as Unit xyz can use token holdings to support asset representation, liquidity provision, and governance participation. The planned acquisition also reflects a broader trend of blockchain protocols building reserves to support operations and demonstrate long-term commitment to their networks.

    Potential Market Impact and Community Response

    The report has prompted discussion across crypto communities, with some observers describing the purchase as a potentially bullish signal for $HYPE liquidity and adoption. Others note that large orders on centralized exchanges can affect market sentiment, although the ultimate impact will depend on execution, trading volume, and available market depth.

    Hyperliquid’s ecosystem is known for its growth in perpetuals trading and decentralized finance (DeFi). Greater exposure to $HYPE could give Unit xyz additional capacity to support tokenized assets connected to the ecosystem and potentially attract more users to its platform.

    What the Reported Purchase Means for Investors

    The development highlights the growing relationship between DeFi protocols and exchange-based liquidity. It also underscores the importance of tracking both on-chain activity and exchange data when assessing institutional or protocol-level buying.

    However, the purchase remains unconfirmed until an official report verifies its completion. Market conditions can change quickly, and the potential effect on $HYPE will depend on factors including the size and timing of the order, liquidity, trading activity, and overall market sentiment.

    Frequently Asked Questions

    What is Unit xyz?

    Unit xyz is a tokenization protocol within the Hyperliquid ecosystem that focuses on representing real-world or digital assets on-chain. It uses $HYPE tokens for operational and governance purposes.

    Why is Unit xyz reportedly buying $HYPE on Coinbase?

    The purchase is likely intended to increase Unit xyz’s $HYPE reserves, which could support its tokenization services, liquidity requirements, or strategic position within the Hyperliquid network. Using a major exchange such as Coinbase may provide a transparent and accessible route for executing the transaction.

    How could the purchase affect the price of $HYPE?

    A large purchase could increase short-term demand, but the broader price impact will depend on market conditions, trading volume, liquidity, and investor sentiment. A completed transaction may be viewed as a positive signal, although investors should exercise caution and conduct their own research.

    Related Reading

    • Decentralized Perp Exchange Volume Climbs 9.1% to $423B, Hyperliquid Dominates with 58% Share
    • Dogecoin Price Pulls Back After Rally to Three-Month High: What’s Next for DOGE?
    • Hyperliquid’s Largest Long Whale Opens $79M Bitcoin Position Amid Market Turmoil
    • Goldman Sachs Emerges as Top Institutional Holder of Spot Solana ETFs, 13F Filings Show
    • North Korea’s Lazarus Group Moves $19.42M in Bitcoin, On-Chain Data Shows

    Source: cryptonews.net

  • Coinbase, Binance Whales Set XRP Profit Targets at $15, $32 as Bull Rally Resumes

    Coinbase, Binance Whales Set XRP Profit Targets at $15, $32 as Bull Rally Resumes

    XRP Faces Major Whale Sell Walls at $15 and $32 as Price Attempts Recovery

    XRP is encountering significant long-term selling pressure as whales on Binance and Coinbase maintain large sell walls at the $15 and $32 price levels. The order-book liquidity appears as the token attempts to resume its rally following a recent pullback.

    Binance and Coinbase Whales Stack Sell Orders

    According to CryptoQuant author CW, Binance whales previously established a sell wall extending to $15, and that liquidity remains in place. Meanwhile, Coinbase whales have created new sell walls reaching as high as $32 this month. CW emphasized the current dynamic in the order books.

    “Currently, it is Coinbase whales that are blocking the rise,” CW said, adding that the group has been forming multiple sell walls.

    These sell walls represent clustered limit-sell liquidity rather than firm price targets or guarantees that XRP will reach those levels. Analyst ChartNerd cautioned that order-book liquidity is transient because traders can cancel or move their orders at any time. While large sell walls can act as supply ceilings, they do not necessarily signal an impending rally.

    XRP Price Action: Pullback and Rebound

    The whale activity coincides with XRP’s attempt to recover from a correction after last week’s rally. The token climbed to $1.70 before declining 19.18% over the following days to reach $1.3632. At press time, XRP has rebounded to approximately $1.45, marking its intraday high. The recovery aligns with broader crypto market strength as Bitcoin reclaimed the $80,000 level, reviving bullish sentiment.

    Key Technical Levels: Support and Resistance

    ChartNerd identified $1.36 as key four-hour support. Immediate resistance sits between $1.51 and $1.55. A successful breakout above that zone opens the path toward $1.80 and $1.94. Conversely, rejection would likely send XRP back toward the $1.36 support area.

    $1.54: The Critical Battleground

    The analyst highlighted a confluence between XRP’s lower-timeframe resistance and the weekly 50 EMA (Exponential Moving Average) around $1.54. He stated that a close above this moving average remains the “main objective” for a continuation higher, as failure to reclaim it could signal renewed weakness.

    In a subsequent update, ChartNerd summarized the setup on X (formerly Twitter):

    Long story short..
    You’ve heard it enough times..
    Until $1.54 is reclaimed..$XRP’s upside move is under pressure
    — 🇬🇧 ChartNerd 📊 (@ChartNerdTA) August 27, 2026

    This makes the $1.51–$1.55 region a near-term battleground. A move above it could strengthen the bullish case and put the $1.70 high back within reach.

    Whale Accumulation Offsets Sell-Wall Pressure

    Adding a bullish counter-narrative, CryptoQuant author Darkfost reported that whales withdrew more than 231 million XRP from Binance in a single day, worth over $335 million at the time. The outflows represented a sharp increase from the 90-day average of $40 million and marked the highest level of whale withdrawals from Binance in six months.

    Such movements reduce the immediately tradable supply on exchanges, which typically supports a price rally. With whales accumulating XRP off-exchange while major holders maintain large sell walls at higher prices, the market awaits a decisive move.

    Whether XRP can overcome the $1.54 resistance and resume its advance remains the central question for traders in the coming sessions.