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The Highly Anticipated LINEA Launches Today: Here Are the Project Details and Listing Timetable
Linea, a Layer-2 network aiming to strengthen the Ethereum ecosystem, will launch its long-awaited token generation event (TGE) on September 10th. With this event, billions of LINEA tokens will be distributed, officially marking the start of one of the most anticipated developments in the altcoin market.What is LINEA?Linea is a Layer-2 network that aims to address Ethereum's scalability challenges while maintaining its security and decentralization. Developed by Consensys, the network offers full integration with the Ethereum Virtual Machine (EVM) through zkEVM compatibility. This allows developers to run their existing smart contracts and tools on Linea with virtually no modifications. Project supporters describe Linea as "the closest Layer-2 to Ethereum." Because transaction fees are paid in ETH on the network, the LINEA token does not serve as a gas fee. Instead, the token is used to incentivize and support ecosystem growth. Additionally, a portion of the ETH generated from transaction fees is planned to be used to balance the supply of LINEA through a buyback and burn mechanism.The airdrop and token distribution have become a hot topicOnly a small portion of the total supply of 72 billion LINEA tokens will enter circulation. As part of the airdrop, 9.3 billion LINEA will be distributed to early adopters and addresses that contribute to the ecosystem.The distribution is divided into three main categories:10% Early adopters: Users who accumulate enough points in the Linea Voyage and Surge campaigns will receive their rewards. Approximately 750,000 wallets are eligible for this distribution.75% Ecosystem participants: The collective body called the Linea Consortium will distribute this substantial share to developers, liquidity providers, and those involved in ecosystem construction.15% Consensys treasury: This share, allocated to Consensys, the network developer, will be locked for five years.Airdrop beneficiaries will have 90 days, starting September 10th, to claim their tokens. Tokens not claimed by the end of the period will be transferred to the ecosystem fund. Important note: The snapshot process has been completed on Binance, but distribution has not yet been made. LINEA tokens will be credited to accounts at least one hour before the spot listing begins.LINEA Listed on ExchangesLINEA will only be available for deposits/withdrawals on its own network. Many major exchanges, including Binance, OKX, Bybit, MEXC, and Upbit, are preparing listings for the token as of September 10th. This will allow users to quickly process the LINEA they received from the airdrop.Binance: LINEA deposits will open on September 9th at 14:00 UTC (17:00 Turkey time). Spot listings will begin on September 10th at 16:00 UTC (19:00 Turkey time).OKX, Bybit, and MEXC: Listings will open on the same day as USDT pairs.Upbit: Will be trading with KRW, BTC and USDT pairs.
PayPal Partnership Offer Received for Hyperliquid's USDH Stablecoin
Crypto infrastructure company Paxos has submitted an updated proposal for Hyperliquid's planned USDH stablecoin launch. The new plan isn't limited to technical details; a partnership with PayPal has also attracted attention.PayPal partnership proposal for USDH has been submittedPaxos's plan, dubbed the "V2 proposal," aims to expand USDH globally. A critical step in this process will be integration with PayPal. If accepted, USDH will be listed on PayPal's payment channels and Venmo. This will allow users to buy and sell the stablecoin directly through PayPal and use it for their daily payments.PayPal also plans to list Hyperliquid's native token, HYPE, on their platform. To support this integration, PayPal has also committed to allocating $20 million in incentives to the ecosystem.Paxos' proposal isn't limited to integrations alone. The company proposes to reinvest all USDH revenues into Hyperliquid's Assistance Fund (AF), which will grow until the stablecoin's total locked value (TVL) reaches $1 billion.In addition, it is stated that Paxos' revenue share will be limited to 5% even if TVL exceeds $5 billion. Paxos emphasized the proposal's long-term partnership model, stating, "Thanks to this framework, Paxos will only win when Hyperliquid wins."GENIUS Act ReminderPaxos also emphasized legal compliance in its proposal. The company emphasized that it is the only company compliant with the GENIUS Act, adopted in the US, and the only company legally authorized to issue tokens in Europe. It also announced that PayPal's existing stablecoin, PYUSD, will be added as a reserve asset to ensure stability.The updated plan highlights Hyperliquid's targeting not only individual investors but also institutional players. Paxos aims to integrate "builder code" into Hyperliquid by working with fintech companies and brokerage firms.The company also plans to strengthen its DeFi integration on HyperEVM, develop a USDH-based "Earn" product, and integrate it into consumer applications. Paxos added that it will leverage its existing infrastructure, where it works with giants such as Stripe, Mastercard, Robinhood, Nubank, Mercado Libre, and Interactive Brokers, to implement this plan.Competition is heating up: Numerous bids for USDHWhile Paxos's bid is strong, the race to become Hyperliquid's USDH issuer is fierce. Frax Finance submitted a similar bid with BlackRock-backed frxUSD. A consortium of Agora, Rain, and LayerZero also attracted attention with its emphasis on 100% net revenue sharing and neutrality. Ethena Labs and Sky have also submitted their own bids.Hyperliquid's search for an issuer, which began on September 6, has a deadline of September 10. Validator voting to select the winner will begin on September 14th, and the Hyperliquid Foundation will remain neutral during this process.At the time of writing, Hyperliquid's own coin, HYPE, is trading at an all-time high of $55.20.
Grayscale Files New Application with SEC for Three Altcoins
Grayscale, one of the world's largest crypto fund management companies, continues its spot crypto ETF push without slowing down. This time, the company has filed with the U.S. Securities and Exchange Commission (SEC) for Bitcoin Cash (BCH), Hedera (HBAR), and Litecoin (LTC).New ETF filings on the SEC's deskGrayscale's filings include S-1, S-3, and related regulatory forms. The company aims to convert its existing closed-end funds (trusts) into exchange-traded funds (ETFs). This conversion process is identical to the process Grayscale used to convert its Bitcoin and Ethereum funds into ETFs in 2024.The filings indicate that the new ETFs are planned to be listed on the NYSE Arca or Nasdaq. For example, the S-3 filing for Litecoin included the following statements:“This prospectus has been prepared assuming the SEC has approved Form 19b-4 or similar listing standards.”In other words, the company has prepared the documents assuming a positive outcome to the process. Altcoin ETF race heats upGrayscale's move once again demonstrates that it does not intend to limit itself to Bitcoin and Ethereum. ETF applications for numerous altcoins, from Dogecoin to XRP, are currently on the agenda. Indeed, on the same day, the SEC announced that it had postponed its decision on Grayscale's spot Hedera ETF and Bitwise's Dogecoin ETF application.This development indicates that altcoin ETF competition in the crypto market will intensify. Considering the SEC's busy schedule, the crypto community is in for a busy time in the coming months. Current Status of FundsAccording to data included in the filings, Grayscale's Bitcoin Cash trust had a net asset value of $202 million as of June 30th. The value per share is $4.31. While closed-end funds typically trade at a premium or discount to their net asset value, ETFs can keep the price close to their net asset value by buying and selling assets based on investor demand.Therefore, the ETF structure stands out as a more transparent and attractive investment vehicle for both institutional and individual investors.To date, the SEC has only approved Bitcoin and Ethereum spot ETFs. Grayscale's lawsuit against the institution, which it won, played a significant role in these approvals. After the court case, the SEC was forced to approve the Bitcoin and Ethereum ETFs.Spot Bitcoin ETFs, which began trading in 2024, quickly reached a trading volume exceeding $1.2 trillion. This demonstrates the strong market appetite for crypto ETFs. Grayscale's new applications for Bitcoin Cash, Hedera, and Litecoin indicate that altcoin ETFs are on the horizon. While the SEC's stance remains to be seen, market anticipation is growing. If these products are approved, it could usher in a new era in the crypto market, with institutional capital flocking to altcoins.
TAO Commentary and Price Analysis - September 10, 2025
TAO/USDT Technical Analysis Falling Wedge Structure with Wide Trend According to the TAO chart on a daily time frame, there seems to be a clear falling wedge formation which is taking shape properly though the trend lines are spread across a wider range. We presume that TAO could go up toward the upper border of the formation, bouncing from the wedge’s lower border.The range between the levels $292–$303 stands as a strong resistance. This area also overlaps with the lower band of the wedge; therefore, it is highly probable that TAO will reverse from here. On the other hand, daily price closings below $263 will possibly signal a bearish breakdown of the formation.According to a bullish scenario, TAO will see the first resistance at the level $333. Above this resistance, we have other key decision areas at $366–$379. If the price manages to reach this key decision zone, we can consider that the price has touched the upper trend line above. If we see a breakout above the level at $400, this move could speed up the bullish momentum.According to this scenario, the other target levels to follow are $421 → $461 → $500 → $580.Key levels to follow:Support levels: $303 → $292 → $263 (breakdown risk)Resistance levels: $333 → $366–$379 → $400 → $421 → $461 → $500 → $580These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
LDO Comment and Price Analysis - September 10, 2025
LDO/USDT Technical AnalysisWhen we analyze the LDO chart on a daily time frame, we can see a descending channel pattern is still active. LDO has recently attempted to test the upper band of the channel yet it failed to break out, thus leading to a pullback confirming that the channel structure is working properly. Falling Channel Structure LDO is currently trading around the level $1.21 and we should be following the support and resistance levels closely as long as the channel pattern works properly. We have the first support zone between the levels $1.13–$1.07 which can be considered a critical defense line as it intersects with the horizontal support and the middle band of the channel. Below this area stand other support levels $0.91 and $0.79.According to a bullish scenario, the price is likely to test the upper band of the channel – $1.31. The price needs to break above $1.53 and $1.61 for the confirmation of actual breakout. In the event that this breakout occurs, then the price can surge to the level at $1.90. The ultimate target of this breakout will be the level at $4.0.In brief, LDO is still under pressure from its descending channel and support levels should be followed closely in the short term. Daily price closings above the level $1.53 would signal a trend shift and will pave the way for stronger bullish momentum upward.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during trades.
ARB Comment and Price Analysis - September 10, 2025
ARB Technical OutlookAnalyzing ARB on a weekly time frame, we see that there is a quite wide falling wedge formation. The beginning of this wedge formation is too far to be seen even on a daily time frame, which suggests that the formation is a long-term pattern.ARB is currently trading around the level $0.4950. The price of the coin has tried to climb above $0.4515 but it failed to hold there, leading to a pullback to the horizontal support levels. This zone is critical in terms of direction decision.The area between the levels $0.4515 and $0.5046 works as a short-term resistance. A daily breakout above the level $0.5046, in particular, would confirm the breakout of the falling wedge formation. In such case, the technical target of the formation, $2.4250, can be mentioned in the middle to long term.According to a bearish scenario, we should be following the levels at $0.3558, $0.3453 and the lower band of the formation $0.2849. The Falling Wedge in the Weekly Chart Summary:Formation: Long-term falling wedgeUpward breakout target: $2.4250Short-term resistance levels: $0.4515 → $0.5046 → $0.5475Support levels: $0.3558 → $0.3453 → $0.2849These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
ALT Comment and Price Analysis - September 9, 2025
ALT/USDT Technical Analysis Narrowing Triangle Structure Analyzing the ALT daily chart, we see that there is a narrowing triangle pattern standing. The price of the coin has approached the support zone between the levels $0.0311–$0.0299, which is considered very critical in the short term. The upper band of the triangle formation intersects with the resistance level $0.0345 and the horizontal resistance at $0.0383–$0.0398, which is the upper trendline of the formation.If we see a closing below the level $0.0299, then the formation becomes invalid and the price may pull back to the level $0.0266. However, the price is likely to attempt to go upward if the current pattern is maintained. The levels $0.0447 and then $0.0539 will become technical targets if the price manages to hold above the zone $0.0383–$0.0398 in particular.Below are the levels to follow:Support levels: $0.0311 → $0.0299 → $0.0266Resistance levels: $0.0345 → $0.0383–$0.0398 → $0.0447 → $0.0539Triangle formation keeps contracting, which signals that a breakout is on the way.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
TIA Comment and Price Analysis - September 9, 2025
TIA/USDT Technical AnalysisAnalyzing TIA on a daily time frame, we see that downtrend pressure still persists. The price has recently bounced a little with the help of the support from the level at $1.60, yet it still remains within the downtrend. TIA is currently trading around the level $1.61.We have the critical resistance zone between the levels $1.81–$1.88 in the short term. Unfortunately, each attempt to break above this resistance zone has faced selling pressure so far. $2.11, in particular, will be the key level to determine the direction of the trend in the middle term. In the event that the price manages to hold above this key level, the possible targets could go as far as $2.36 → $2.45 → $2.78 → $3.40.According to a bearish scenario, the price could test the first support level $1.60. Below it, other possible support levels to follow are $1.43 and $1.31, which is the most critical level, as losing it could break the medium-term structure.To summarize, we can say that a break and hold above $2.11 would signal a stronger uptrend, while losing $1.31 could increase downside risk. Falling Trend Structure Levels to followResistance levels: $1.81–$1.88 → $2.11 → $2.36 → $2.45 → $2.78 → $3.40Support levels: $1.60 → $1.43 → $1.31These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
Hyperliquid at the Top: Corporate Interest, VanEck Commentary, and User Growth Drive Price
The most notable recent surge in the crypto market has been that of Hyperliquid (HYPE). The project's native token, HYPE, reached an all-time high of $55. This increase is reflected not only in the price chart but also in the interest of institutional investors, the number of users, and the development of the ecosystem.VanEck made a critical commentOne of the most important factors in Hyperliquid's rise was the support of global asset management giant VanEck for the project. VanEck's founder, Jan VanEck, stated that the firm has held the HYPE token for months and is optimistic about the project."We were impressed by Hyperliquid's technology infrastructure, decentralized governance model, and ecosystem development strategy. We continue to offer free research to the community and believe Hyperliquid presents a strong opportunity for the future," VanEck said, drawing the attention of institutional investors to this area. Lion Group Takes Strategic Step for HYPEAnother important news regarding HYPE came from Nasdaq-listed Lion Group Holding Ltd. The company announced a strategic shift in its crypto asset treasury, gradually converting its Solana (SOL) and Sui (SUI) holdings to HYPE.Lion Group CEO Wilson Wang emphasized that the decision aligns with its long-term growth goals, saying:“Hyperliquid is one of the most attractive opportunities in the decentralized finance world. It stands out with its efficient transaction infrastructure and on-chain order book model. Therefore, we chose to prioritize HYPE over SOL and SUI in our portfolio.”Record-breaking user activityThe rise in HYPE's price is supported not only by institutional investments but also by user growth within the ecosystem. According to Token Terminal data, the number of weekly active users on HyperEVM and HyperCore reached 181,500. HyperEVM provides an Ethereum-compatible virtual machine environment, whileHyperCore provides high scalability by supporting the network's consensus and execution layer.This increase translates to more transactions on the network, higher volume, and a stronger community. According to Santiment data, HYPE's dominance on social media has increased to 2.06%. Projects that are more talked about in the crypto market are generally assets that also attract increased investor interest. Furthermore, weighted market sentiment for HYPE has reached its highest level since July.What is HYPE Coin?HYPE, Hyperliquid's native token, is used as both a governance and economic incentive tool within the project's ecosystem. Hyperliquid stands out as a decentralized perpetual futures exchange and offers high-speed, low-cost transactions with its Layer-1 infrastructure.The primary functions of the HYPE token:Governance: Token holders can have a say in important decisions by participating in network voting.Revenue sharing: The majority of the platform's transaction fees are used for HYPE buybacks, creating a mechanism that supports the token's value.Ecosystem incentives: Users can earn rewards through HYPE for activities such as providing liquidity and long-term loyalty.Hyperliquid's distinguishing feature is its fast and transparent transaction structure, built on a centralized on-chain order book (CLOB) model.
Ripple Partners with Spanish Banking Giant BBVA
US-based blockchain company Ripple has entered into a strategic partnership with Banco Bilbao Vizcaya Argentaria (BBVA), a leading Spanish bank, to offer crypto custody (custody) services.BBVA Makes a Secure Transition to CryptoBBVA recently launched a retail trading and custody service for Bitcoin (BTC) and Ethereum (ETH). With this new partnership, the bank will utilize Ripple's institutional custody infrastructure as the backbone of these services. BBVA Head of Digital Assets Francisco Maroto stated that Ripple's custody services provide the bank with an end-to-end secure infrastructure. "We can offer our clients a direct, secure, and regulatory-compliant custody service," Maroto said. Cassie Craddock, Ripple's Europe Regional Manager, emphasized that banks can now take faster action thanks to the European Union's Crypto Asset Markets Regulation (MiCA). Craddock said, “BBVA is one of the region's most innovative banks. Thanks to MiCA, banks can now confidently deliver the digital asset services their customers demand.”First Switzerland and Turkey, now SpainThis Ripple-BBVA partnership isn't new. BBVA Switzerland migrated its crypto custody infrastructure to Ripple's technology at the end of 2023. Garanti BBVA adopted Ripple's custody service in Turkey in 2024. The Spanish initiative stands out as the largest-scale implementation of this partnership in Europe.IBM is also contributing to the project, which is being carried out through Garanti BBVA Crypto, by providing the security infrastructure. This platform, which has reached more than 14,000 users in Turkey, enables the buying, selling, and custody of popular assets such as Bitcoin, Ethereum, Solana (SOL), Arbitrum (ARB), XRP, and USDC. The new partnership is expected to expand this model to a wider audience in Spain. Europe Race Accelerates with MiCAThe MiCA regulation in Europe has accelerated banks' entry into the crypto space. Assessments from the CoinShares research team predicted that MiCA would mobilize the largest European banks in 2024. Today, we see this prediction come true. BBVA's move coincides with Deutsche Bank's plans to launch a Bitcoin custody service in 2025.Deutsche Börse's Clearstream unit is preparing to launch crypto custody solutions for institutional clients, while Boerse Stuttgart Digital Custody became the first institution in Germany to receive a full license under MiCA. Standard Chartered also launched crypto services in Europe with a digital asset license from Luxembourg.Having overcome years of legal battles with the SEC in the US, Ripple is now focusing more strongly on the European market. The acquisition of Swiss custodian Metaco allowed Ripple to provide institutional-grade infrastructure suitable for banks. The BBVA agreement was one of the most concrete steps that strengthened Ripple's strategy.This new service offered by BBVA to its customers appears to be a sign that European banks will take a more active role in the crypto sector.
Gemini to Receive $50 Million in IPO Support from Nasdaq
Cryptocurrency exchange Gemini has signed up Nasdaq, the leading US stock exchange operator, as a strategic investor ahead of its initial public offering (IPO). According to Reuters, Nasdaq will purchase $50 million worth of shares during Gemini's IPO.Nasdaq Makes $50 Million ContributionGemini, founded by brothers Cameron and Tyler Winklevoss, has accelerated its long-awaited IPO preparations. Under the company's plan filed with Nasdaq, 16.6 million Class A shares will be offered at a price between $17 and $19. This offering, with additional options, is expected to raise over $300 million.According to sources, Nasdaq will acquire $50 million worth of shares through a private placement simultaneously with the IPO. Thanks to this agreement, Nasdaq customers will gain access to Gemini's custody and staking services, while Gemini's institutional customers will be able to use Nasdaq's Calypso platform, developed for managing trade collateral.Market conditions will be decisiveWhile neither party has officially commented on the matter, it was stated that the agreement is subject to change depending on market conditions. The recent volatility in crypto markets, in particular, could affect investor appetite during the IPO process.Nevertheless, Nasdaq's move signals that the boundaries between crypto and traditional finance are rapidly blurring. Indeed, Nasdaq recently filed a petition with the SEC for regulatory changes regarding tokenized securities. This initiative aims to pave the way for blockchain-based versions of traditional stocks to be traded legally.Strong financials, high targetsGemini's financial data disclosed in its IPO filing fell short of expectations. The company reported a net loss of $282.5 million in the first half of 2025. This figure is nearly seven times the $41.4 million loss in the same period last year. Adjusted EBITDA figures also fell from a $32 million profit to a $113.5 million loss. For the full year 2024, a $158.5 million loss was recorded on $142.2 million in revenue.Despite this outlook, Gemini believes the IPO will attract strong investor interest. The support of a major institution like Nasdaq further bolsters this confidence. With Gemini's listing on Nasdaq under the ticker symbol "GEMI," it is expected to become the third publicly traded crypto exchange in the US, following Coinbase and Bullish.Crypto companies are racing to go publicGemini's move is part of a wave of IPOs in the crypto ecosystem. Companies like Circle and Bullish have previously experienced strong openings on US exchanges. Circle's IPO as a USDC issuer generated significant interest, with Bullish shares surging over 150% on their first day of trading on the New York Stock Exchange. Gemini's success could further fuel the appetite for crypto companies to go public. Players like Grayscale, Kraken, Figure, and BitGo also have similar plans.
Double Shock in Crypto: SwissBorg Hacked, Ledger Issues Urgent Security Advisory
Developments that marked the new week in the crypto sector were related to security risks. Ledger's Chief Technology Officer (CTO) Charles Guillemet warned investors about a large-scale supply chain attack on software packages that have reached billions of downloads, while Switzerland-based platform SwissBorg announced that it had lost approximately $41 million in Solana (SOL) due to an attack targeting its staking partner.Critical warning from Ledger CTOLedger CTO Guillemet stated on Monday that a supply chain attack shaking the JavaScript ecosystem is ongoing. "A respected developer's NPM account has been compromised. The affected packages have been downloaded more than a billion times, and the entire ecosystem could be at risk," he said. Guillem emphasized that investors who don't use hardware wallets should be especially cautious: "If you don't have a hardware wallet, avoid on-chain transactions for now. Hardware wallet users can stay safe by carefully reviewing each transaction before signing."The scale of the attack sparked speculation in the crypto community that it "could be the largest supply chain attack ever seen." Hackers allegedly injected malicious code into downloaded packages, changing transaction addresses in the background, and then redirecting funds to their own wallets without users' awareness.SwissBorg Loses $41 Million in SOLAnother development that came on the same day as Ledger's warning involved a loss that directly impacted users. Swiss-based platform SwissBorg confirmed that approximately 192,600 SOL ($41.3 million) was lost as a result of its partner API being compromised.The company explained that the attack did not affect its own application but only targeted its "SOL Earn Program." A SwissBorg spokesperson said, "This is a difficult day for us. However, we will use our SOL treasury to compensate the majority of our users." It was also stated that the company is collaborating with white-hat hackers and security partners to recover the stolen funds. Ultimately, while the Supply Chain attack impacted software developers and, indirectly, millions of users, the SwissBorg incident highlighted the risk of partnering with centralized platforms.Experts recommend that users use hardware wallets, carefully check addresses in transaction signatures, and choose trusted partners for staking transactions on centralized platforms.
CoinShares Report: ETH Weakens; Investors Focus on SOL, XRP, SUI, LINK, CRO
Global digital asset investment products experienced a total net outflow of $352 million last week. A report published by CoinShares reveals that investor appetite remained limited despite weak US employment data and interest rate cut expectations. Trading volumes also fell 27% compared to the previous week. Nevertheless, $35.2 billion in inflows were still expected for 2025, surpassing last year's total inflows by 4.2% on an annualized basis.Regional Outlook: Outflow from the US, Strong Inflow from GermanyThe regional distribution revealed the different trends of investors. US-based funds saw outflows of $440 million, while Germany recorded a strong inflow of $85 million. Hong Kong stood out with an inflow of $8.1 million. Other countries, such as Canada (+$4.1 million), Brazil (+$3.5 million), and Australia (+$2.1 million), also saw positive movements, albeit limited. However, outflows were seen in Sweden (-$13.5 million) and Switzerland (-$2.7 million). Asset-based Flows: Bitcoin Positive, Ethereum NegativeAccording to weekly data:Bitcoin funds were the main source of investor interest with $524 million in inflows. Total inflows into Bitcoin products since the beginning of the year have reached $21.3 billion.Ethereum funds, however, were at the center of the outflows. Last week alone, $912 million in outflows were recorded. Outflows occurred every day for the last seven trading days. Nevertheless, a total of $11.1 billion in inflows since the beginning of the year has remained stable.Solana funds closed positive for the 21st consecutive week with $16.1 million in inflows. Total inflows since the beginning of the year reached $1.26 billion.XRP funds recorded $14.7 million in new inflows, reaching a total of $1.41 billion.Relatively small funds such as Sui, Chainlink, and Cronos also recorded modest positive flows, while the outflows for Cardano and Litecoin remained stable. Company-based Flows: ProShares and iShares LeadThe difference between fund providers was also notable.ProShares and iShares stood out with inflows of $126 million and $122 million, respectively.Grayscale (-$131 million), Bitwise (-$126 million), and ARK 21Shares (-$82 million) experienced significant outflows.CoinShares XBT Provider products also saw outflows of $15 million.Consequently, weekly outflows indicate a decrease in investors' short-term risk appetite. The sharp outflows in Ethereum, in particular, suggest that institutional investors are reassessing their expectations for this asset class. Conversely, Bitcoin's steady inflows confirm that the market continues to turn to BTC as a safe haven. The consecutive weeks of inflows from altcoin funds like Solana and XRP indicate that the market remains focused on diversification. In summary, although there has been a “cooling” in fund movements on a global scale, it is possible to say that institutional interest in crypto investment products remained high throughout the year.
Forward Industries Makes $1.65 Billion Major Move into Solana
A notable new development has occurred in the cryptocurrency market. Forward Industries announced that it has raised a total of $1.65 billion in private investment in a PIPE (private investment in public equity) round led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This investment, secured with both cash and stablecoin commitments, marked one of the largest financing initiatives focused on the Solana ecosystem.Solana-centric treasury strategyThe company stated in a statement that this massive funding will be used for a digital asset treasury strategy built around the Solana blockchain. C/M Capital Partners, an existing shareholder, also participated as an investor in this round. Galaxy Digital will integrate its own enterprise infrastructure into the project, including trading, lending, and staking services. Jump Crypto will support the project with technical initiatives such as Firedancer, a new validator client aimed at scaling Solana's performance. Thus, Forward Industries aims to generate differentiated returns from its staking, lending, and trading activities. Management and Strategic CollaborationThis strategic partnership isn't limited to financing. Kyle Samani, co-founder and managing partner of Multicoin Capital, will become chairman of Forward Industries' board of directors upon completion of the transaction. Samani has been among the most prominent investors supporting Solana's development since 2018 and emphasizes that Solana remains undervalued by the market.Galaxy's President and Chief Investment Officer, Chris Ferraro, and Jump Crypto's CIO, Saurabh Sharma, will also join the board as observer members. Their experience with Solana-based projects is expected to further strengthen Forward Industries' governance structure.Advisors and Next StepsCantor Fitzgerald & Co. served as financial advisor during the investment process, while Galaxy Investment Banking served as co-placement agent and advisor. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor for Galaxy, and DLA Piper LLP served as legal advisor for Cantor Fitzgerald. The company announced that it will share further updates on its treasury strategy, centered around Solana, in the coming period. Forward Industries CEO Michael Pruitt emphasized his belief in Solana's long-term potential, saying this move represents a decisive move to enhance the company's shareholder value.
Sui-Based Altcoin Hit for $2.4 Million
The world of decentralized finance (DeFi) has once again been shaken by news of a cyberattack. Nemo Protocol, a yield platform built on the Sui blockchain, announced that it had lost approximately $2.4 million worth of stablecoins due to a security vulnerability over the weekend. In the incident, first reported by security firm PeckShield, the attacker reportedly transferred stolen USDC tokens from Arbitrum to the Ethereum network. This moved the assets into an ecosystem where they could be more easily moved and difficult to monitor.All smart contracts have been haltedThe Nemo team confirmed the attack in a statement on Telegram on Monday, announcing the incident to the community:“Dear Nemo community, last night there was a security incident affecting the Market pool. We are investigating the issue and have temporarily halted all smart contract activity. We will share new information as we receive it.”It is also noteworthy that the platform has entered a previously scheduled maintenance period. Nemo had previously announced that the application would be under maintenance on Monday and Tuesday. Therefore, the attack's emergence coincided almost simultaneously with the maintenance period.Are the assets safe?Nemo Protocol emphasized that the attack only affected a specific pool and that the assets held in the vaults were safe. However, a clear explanation has not yet been released regarding the root cause of the incident. This uncertainty has shaken investor confidence and once again highlighted the ongoing security vulnerabilities in DeFi protocols.Following the attack, the total locked assets (TVL) on the platform experienced a significant decline. According to DeFiLlama data, Nemo Protocol's TVL fell from $6 million to $1.53 million. This decline indicates that investors were rapidly withdrawing their funds from the platform.What is Nemo Protocol?Nemo Protocol is a yield optimization and yield trading platform built on the Sui blockchain. It offers users the ability to tokenize their investments. The platform divides assets into Principal Tokens (PT) and Yield Tokens (YT), allowing users to buy and sell these tokens, hedge future returns, or take speculative positions.While yield tokenization, in particular, is becoming increasingly popular in the DeFi world, Nemo Protocol was one of the prominent projects in the Sui ecosystem. However, the recent incident may cause investors to re-evaluate their trust in such new projects.Billions of dollars worth of assets have been lost in recent years due to smart contract vulnerabilities and protocol flaws. The transparency and freedom offered by decentralized finance also create attractive opportunities for malicious actors.
