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SUI Commentary and Price Analysis - October 22, 2025
SUI Technical AnalysisSupported by nearly $6 billion in institutional funds and a strong increase in on-chain activity, SUI has been getting more attention recently. Additionally, a company’s $600 million treasury strategy and the network’s TVL approaching $2 billion have boosted investor interest. Now, let’s look at the technical side. Narrowing Triangle Structure Analyzing the chart, we see that SUI is forming a symmetrical triangle pattern. The price has been moving between a descending resistance and an ascending support line, creating a tightening structure which most of the time leads to a strong breakout. SUI is currently trading around $2.43, very close to the lower boundary of the triangle. The $2.44–$2.53 area is acting as short-term support. If the price manages to hold above this zone, a recovery toward the middle of the triangle can be expected.The first major resistance is around $2.93, which is also where the upper trendline passes. A daily close above this level would signal a bullish breakout, opening the way to $3.38 → $3.56 → $4.16, with a technical target near $4.50+ if momentum continues.According to a bearish scenario, $2.24 and $2.06 are strong supports to follow below. If the price closes below $2.06, the pattern would break down, increasing the risk of a deeper drop toward $1.59.Summary:SUI is still moving inside a symmetrical triangle pattern.Current price: $2.43, near a critical support zone.A break above $2.93 could trigger a strong move to $3.38 – $4.16 – $4.50+.As long as $2.24–$2.06 support holds, the outlook remains positive.The pattern is nearing completion — a strong trend breakout is expected soon.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.
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22 Oct 2025
ADA Comment and Price Analysis - October 22, 2025
ADA/USDT Technical AnalysisThanks to rising on-chain activity and strong whale buying, Cardano (ADA) has recently gained renewed attention. Expectations around a possible spot ADA ETF in the U.S., along with accumulation by large wallets, have further increased investor interest. With these developments, the technical outlook for ADA has become even more significant. Descending Triangle Analyzing the chart, we see that ADA is forming a descending triangle pattern. The coin has been trying to hold above the $0.55–$0.59 support zone, but downward pressure remains visible. The pattern shows that ADA is approaching a decision point, where a breakout is likely to occur soon.ADA is currently trading around $0.6382. The first resistance is at $0.6516. If the price can hold above this level, it may move toward the upper trendline of the triangle and test the $0.77–$0.82 region. This area is critical as it aligns with the main descending trendline.In a bearish scenario, the $0.5919–$0.5510 zone is the key support area, which has held multiple times in the past. However, if this zone breaks, selling pressure could intensify, pushing the price down toward $0.43.Summary:ADA is still moving within a descending triangle pattern.Current price: $0.6382A move above $0.6516 could target $0.7706 → $0.8180The $0.5919–$0.5510 zone remains the main supportA daily close below $0.55 could trigger a deeper pullback toward $0.43A strong breakout in either direction may result in sharp and fast price action.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.
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22 Oct 2025
What is First Digital USD (FDUSD)?
First Digital USD (FDUSD for short) is a 1:1 US dollar-backed stablecoin developed to offer stable value in the cryptocurrency world. Launched in mid-2023 by a subsidiary of Hong Kong-based First Digital Limited, FDUSD is fully backed by cash or cash equivalent reserves. Backed by the Binance exchange, FDUSD quickly reached a market capitalization of billions of dollars and stands out with features such as multi-blockchain support, independent audits, and regulatory compliance. With Binance discontinuing its own stablecoin, BUSD, FDUSD has filled a significant gap on the platform, becoming one of the largest stablecoins. So, what is First Digital USD (FDUSD), how did it come about, and why is it so talked about? In this guide, we will take a close look at all the details, including FDUSD's definition, origin story, history, importance, the team behind it, and answers to frequently asked questions. Definition and Origin of FDUSDFirst Digital USD (FDUSD) is a cryptocurrency pegged 1:1 to the US dollar, issued by First Digital Limited, a Hong Kong-based financial technology company. FDUSD is issued by FD121 Limited, a subsidiary of First Digital Limited, which operates in the stablecoin space. The storage and protection of reserves are handled through First Digital Trust, a licensed custodian and trust company under Hong Kong law. To maintain this 1:1 peg, cash and high-liquid cash equivalents equal to the amount of tokens in circulation are held in reserve. These reserves are regularly reviewed by independent auditors and publicly disclosed through "proof of reserve" reports. This allows users to transparently see that each FDUSD token is backed by a real-world equivalent dollar asset.The primary motivation behind FDUSD's creation was the need for a reliable digital proxy pegged to the US dollar in the crypto markets. In the first half of 2023, the issuance of the Binance-branded BUSD stablecoin halted under pressure from US regulators, creating a significant gap in the market. Binance, seeking an alternative stablecoin for its trading pairs on the platform, adopted First Digital USD as a solution. Hong Kong-based First Digital already had an infrastructure specializing in digital asset custody and financial services; founded in 2019, the company was listed among Asia Pacific's emerging fintech players by KPMG and HSBC in 2022. FDUSD, announced on this foundation of trust, launched on both Ethereum and Binance Smart Chain (BNB Chain) in June 2023. The goal was to establish a robust bridge between traditional finance and the crypto ecosystem with a regulatory-compliant, fully reserve-backed stablecoin. Initial promotions emphasized that FDUSD is a programmable digital asset designed for direct integration with financial applications such as smart contracts, escrow, and insurance. In this respect, FDUSD is more than just a store of value; It has also positioned itself as a functional infrastructure for Web3-based financial applications.FDUSD History: Key MilestonesAlthough FDUSD is only a few years old, it has made remarkable progress in the crypto market in a short time. Since its launch, strong strategic steps, Binance partnerships, and changes in the stablecoin market have shaped FDUSD's current position. Here are the key milestones in FDUSD's story:2023: Launch and Binance partnershipFDUSD officially launched on June 1, 2023. Initially issued on the Ethereum and BNB Chain networks, the token initially had limited circulation and awareness. However, on July 26, 2023, Binance, one of the world's largest crypto exchanges, listed FDUSD, and the project immediately gained significant momentum. Binance launched zero-fee campaigns on trading pairs such as FDUSD/BNB, FDUSD/USDT, and FDUSD/BUSD, encouraging the use of the stablecoin. This move was quite similar to the strategy Binance had previously employed with TrueUSD (TUSD). The results were immediate: FDUSD supply, which was only in the millions at launch, grew to over hundreds of millions by the end of the summer. Thanks to Binance's aggressive promotional policy, FDUSD quickly became one of the leading stablecoins traded on the exchange.Fall 2023: The Transition from BUSD to FDUSDAt the beginning of 2023, Paxos halted the issuance of Binance USD (BUSD) due to regulatory pressure, creating a significant gap in the stablecoin market. As BUSD's market value declined rapidly throughout the year, Binance turned to FDUSD to fill this gap.In September 2023, Binance offered its users a 1:1 conversion of their BUSD holdings to FDUSD. By October, the exchange began removing most BUSD pairs and adding FDUSD pairs instead. In December 2023, Binance announced that it will automatically convert all remaining BUSD balances to FDUSD.The expansion process created a massive surge in FDUSD supply. Hundreds of millions of dollars of liquidity trapped in BUSD were transferred to FDUSD, and the stablecoin's total market capitalization surpassed the billion-dollar mark. By the end of the year, FDUSD had become the world's fourth-largest stablecoin, behind USDT (Tether), USDC, and DAI. This success was largely due to the fact that FDUSD was traded almost entirely on Binance at the time, and the exchange's immense liquidity.2024: Multi-network support and new partnerships2024 marked the beginning of FDUSD's expansion into ecosystems beyond Binance. This year represents a critical milestone in the stablecoin's transformation into a multi-chain financial instrument. The first major development occurred in April 2024. Sui Network, a next-generation Layer-1 blockchain, announced that FDUSD would be the first stablecoin to be issued on its network. This marked the beginning of trading on Sui, following Ethereum and BNB Chain. This step paved the way for FDUSD to be available not only on centralized exchanges but also across various blockchain ecosystems.At the same time, preparations for FDUSD integration accelerated on other popular networks such as Solana, Arbitrum, and Tron. This multi-network support aimed to increase the stablecoin's accessibility on DeFi platforms and digital wallets. Now, users could use FDUSD not only on Binance but also on various chains and across different protocols.Furthermore, the First Digital team also embarked on expanding FDUSD's use cases beyond exchanges. The company sought partnerships with various fintech firms to expand FDUSD into areas such as international money transfers (remittances) and salary payments. The goal was to make FDUSD a digital dollar that could be used not only by investors but also by businesses and individuals in daily transactions.Towards the end of 2024, Hong Kong's stablecoin licensing regulations came to the fore. The new bill mandated that stablecoin issuing companies obtain licenses. First Digital was prepared for this process and, working closely with regulators, took steps to fully comply with the upcoming regulatory framework for FDUSD. Company executives stated that they viewed Hong Kong's open approach to crypto and stablecoins as an opportunity and aimed to position FDUSD at the center of the region's financial innovation movement.April 2025: The "Depeg" IncidentApril 2025 presented the most challenging period for FDUSD. On April 2, Justin Sun, founder of Tron and the man behind the stablecoin TrueUSD (TUSD), posted on social media that cast doubt on First Digital's reserve adequacy and solvency. Sun implied that First Digital was in financial distress and that FDUSD might not be able to maintain its 1:1 peg. These claims sparked panic in the market. The FDUSD price briefly broke away from its normal $1 level, experiencing a "depeg," dropping to around $0.87 on some exchanges. The First Digital team quickly issued a statement the same day. The company categorically denied Justin Sun's allegations and stated that the dispute was not directly related to FDUSD. The statement emphasized that the situation was, in fact, a distortion of a legal dispute between Sun and the TUSD.The company stated that all FDUSD reserves are fully backed by U.S. Treasury bills, and that the ISIN numbers for these assets are clearly listed in audit reports. It also reminded them that FDUSD reserves are regularly audited by independent auditors.First Digital described Sun's statements as a "baseless smear campaign" and announced that they would take legal action to protect their reputation. Thanks to this prompt communication and transparent approach, the panic quickly subsided. The FDUSD price recovered within a few days, approaching the $1 level again (the price returned to around $1 after the incident). 2025 and Beyond: Regulatory Compliance and New PlansThe Hong Kong Stablecoin Regulation Act came into effect in the second half of 2025. The new law mandates that all stablecoin issuers obtain official licenses. First Digital announced that it has begun working to become one of the first licensed stablecoin issuers in Asia. CEO Vincent Chok stated that they welcomed the strict but clear regulations introduced by Hong Kong. According to Chok, these regulations will establish a more secure foundation for both FDUSD and the stablecoin industry in general.The licensing process is expected to be completed in early 2026. This step will further enhance FDUSD's credibility among both institutional and individual users. Not content with this, the First Digital team is working to make FDUSD available for listing on exchanges other than Binance. By the end of 2025, the total supply of FDUSD reach $2 billion. By approaching its target, it has secured a permanent place in the league of major stablecoins.Future plans include developing new stablecoin projects pegged to various fiat currencies. It is reported that work is underway on HKD or EUR-based stablecoins, particularly for the Asian market. Furthermore, ensuring the integration of FDUSD with global payment systems is one of the company's primary goals.Why is FDUSD Important?Although there are already many USD-pegged stablecoins in the cryptocurrency market, FDUSD quickly rose to prominence due to its unique features and the timing of its launch. Here are the key factors that make FDUSD significant:Reliable reserve structureOne of the most striking aspects of FDUSD is its commitment to regulatory compliance and the transparent management of its reserves. The issuer, First Digital Trust, operates as an authorized trust company in Hong Kong and is subject to the Hong Kong Trust Law. This means that FDUSD reserves are held in accounts completely segregated from the company's other assets. Reserves are held only in cash or highly liquid instruments that can be quickly converted into cash (e.g., bank deposits, treasury bills). Furthermore, monthly reserve reports prepared by independent audit firms are shared with the public, regularly verifying that the amount of collateral in circulation is equivalent to the amount of FDUSD.This transparency policy has given FDUSD a significant trust advantage, especially compared to stablecoins like Tether (USDT), which have been criticized for their reserve structure. Furthermore, the fact that FDUSD's minting and redemption transactions are completely free is an attractive feature for users. Anyone can purchase FDUSD directly from the issuer at a 1:1 ratio and exchange it for US dollars in the same manner.Binance SupportFDUSD's rise is largely due to its strong partnership with Binance. After listing FDUSD in July 2023, Binance not only opened trading pairs but also launched commission-free trading campaigns to incentivize users. These steps rapidly increased interest in the stablecoin. The reason for these aggressive steps was that Paxos no longer offered Binance's own stablecoin, BUSD. The exchange announced its commission-free trading campaign to attract users to FDUSD as follows: With the withdrawal of BUSD, Binance placed FDUSD at the center of its ecosystem. It prioritized those holding FDUSD balances in newly launched Launchpad projects and made FDUSD the default option for many trading pairs.At the beginning of 2024, the market capitalization of FDUSD approached the $2 billion mark. Analysis shows that as of April 2025, approximately 94% of the FDUSD supply was held on Binance. This concentration translates to high liquidity depth and low slippage in the market.The support of a trusted and global player like Binance enabled the rapid adoption of FDUSD by both individual investors and institutional users. However, this demonstrates the stablecoin's relative dependence on Binance.Multi-blockchain supportA stablecoin's success also depends on its ability to be used in different ecosystems. FDUSD made a bold debut in this area. From its inception, it was issued on both Ethereum (ERC-20) and BNB Chain (BEP-20), allowing users to transfer FDUSD across multiple chains.It quickly expanded to networks like Arbitrum, Solana, and Sui Network, becoming a multi-chain stablecoin. This made FDUSD more accessible not only on centralized exchanges but also on DeFi protocols and digital wallets.For example, while FDUSD can be used to lend or borrow on Ethereum, transfers can be made with high speed and low transaction fees on the Solana network. Direct issuance on the Sui blockchain supports the growth of the ecosystem by meeting the stablecoin needs of new Layer-1 projects.FDUSD's technical infrastructure is designed to leverage the advantages of each network. BNB Chain's low transaction fees make it practical for everyday payments, while Ethereum's extensive DeFi ecosystem opens up FDUSD to various protocols. This flexibility makes FDUSD a digital dollar that can be used on a wide scale, without being tied to a single platform.It can also be accessed on the following crypto trading platforms: A Bridge for the Financial EcosystemStablecoins are tools that bridge the gap between traditional finance and the digital asset world. FDUSD successfully fulfills this role. Its stable value provides crypto investors with a safe haven against market fluctuations. Users can preserve their value by converting their Bitcoin or altcoin investments into FDUSD during increased market volatility.FDUSD also offers significant advantages in international remittances. Sending money across borders through banks can take days. But FDUSD allows for low-cost transfers in just a few minutes. This feature is highly attractive for companies doing business in different countries or individuals sending money abroad.Stablecoins are also gaining prominence in payment systems and e-commerce. By accepting payments with FDUSD, businesses can earn fast and guaranteed dollar-based income without exchange rate risk.FDUSD is also actively used in DeFi protocols. Users can earn interest by lending FDUSD on lending platforms or earn a share of transaction fees by adding it to liquidity pools. In short, FDUSD offers a fast, low-cost, and programmable digital dollar experience to a wide range of people, from individual investors to global corporations.Asian Market PositionFDUSD's Hong Kong headquarters and focus on the Asian market distinguish it from other stablecoins. Since 2023, Hong Kong has adopted a forward-thinking approach to crypto assets and stablecoins, becoming a focal point of crypto innovation among financial centers in the region. Leveraging this environment, FDUSD has positioned itself as one of Asia's leading stablecoin solutions. As Circle executives stated, digital dollar stablecoins are expected to play a significant role in trading in the Asia-Pacific region.Hong Kong's financial homeland and proximity to China provide a strategic advantage in fostering FDUSD adoption. Furthermore, the entry of FDUSD has added competition and diversity to the stablecoin ecosystem. In a market long dominated by players like USDT and USDC, FDUSD has helped users diversify their risks and find an alternative that suits their needs.Binance's support for FDUSD following BUSD has ensured that the market is no longer dependent on a single stablecoin. Furthermore, FDUSD's success has encouraged other financial institutions to develop their own stablecoins, accelerating innovation in the sector.As a result, FDUSD, a stablecoin originating in Asia and making its impact felt globally, contributes to both the regional economy and fosters a more balanced and competitive stablecoin market. FDUSD Founders and TeamFDUSD is backed by a team experienced in traditional finance and digital asset management. Two prominent figures in the project are Vincent Chok and Gunnar Jaerv.As CEO of First Digital Trust, Vincent Chok sets the strategic direction for FDUSD. With years of experience in financial technology and digital asset custody, Chok aims to make FDUSD a reliable and fully compliant product.Gunnar Jaerv, as the company's COO (Chief Operating Officer), oversees the stablecoin's daily operations and ensures the seamless integration of blockchain technology into the FDUSD ecosystem. The two executives shape FDUSD's vision by combining the challenges of finance and crypto.The First Digital Limited team has made significant strides in digital finance even before FDUSD. Initially operating under the name Legacy Trust, the company later rebranded as First Digital Trust. Since 2019, it has been providing custody, custody, and payment services for digital assets. In May 2022, First Digital Trust secured $20 million in Series A funding from investors such as Nogle and Kenetic Capital to expand its operations in Asia. This investment laid the groundwork for its plans to launch a stablecoin.In early 2023, a new technology unit called First Digital Labs was established within the company. This team focused on FDUSD's technical aspects, such as smart contract design, multi-network integration, and security audits, while First Digital Trust's legal and finance teams handled regulatory processes, reserve management, and audit reports.Although FDUSD lacked a single "crypto star" figure (such as Vitalik Buterin or Brian Armstrong), the project thrived with strong institutional backing. Binance founder Changpeng Zhao (CZ) announced the launch of FDUSD on social media in the summer of 2023, emphasizing the advantages of the stablecoin. While the First Digital team states that it has no direct management ties with Binance, the liquidity and promotional support provided by Binance as part of the strategic partnership has significantly accelerated the project. Additionally, fintech investors and venture capital funds in Hong Kong have also served as FDUSD advisors.The team places great importance on community communication. Following the crisis with Justin Sun in April 2025, First Digital executives held an AMA (Ask Me Anything) event on Twitter (X) to directly answer user questions. Furthermore, reserve reports, project updates, and educational content continue to be shared regularly on FDUSD's official website and social media accounts. The development team has developed an open-source platform for FDUSD to integrate with various DeFi applications.It also offers libraries and integration guides.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about FDUSD:What is First Digital USD (FDUSD) and what does it do?: FDUSD is a fully reserve-backed stablecoin whose value is pegged one-to-one to the US dollar. Issued by Hong Kong-based First Digital Limited, it allows users to trade with the dollar in the crypto market. FDUSD provides protection against market fluctuations and enables fast and cost-effective international payments. In short, FDUSD is a reliable medium of exchange and store of value, offering the stability provided by the dollar in the digital world.Who issues FDUSD and who is behind it?: FDUSD is a subsidiary of Hong Kong-registered First Digital Limited. The institution responsible for the custody and management of reserves is First Digital Trust. The project is led by CEO Vincent Chok and COO Gunnar Jaerv. While Binance played a significant role in the popularization of FDUSD as a strategic partner, FDUSD is managed entirely independently by First Digital.When and how did FDUSD emerge?: FDUSD was launched in June 2023. It made its first major splash with a listing on Binance in July 2023. After Binance discontinued its own stablecoin, BUSD, it began supporting FDUSD as the primary stablecoin on its platform. When BUSD balances were converted to FDUSD towards the end of the year, the stablecoin's market value increased rapidly. In 2024, it expanded its usage by appearing on various blockchains.Which networks is FDUSD available on?: FDUSD operates on multiple blockchains. Initially, it was issued on Ethereum (ERC-20) and BNB Chain (BEP-20). It later became supported on networks such as Arbitrum (Layer-2), Sui Network, and Solana. Thanks to this multi-network structure, users can easily transfer FDUSD between different wallets and DeFi platforms via inter-network bridges.How to buy or use FDUSD: FDUSD can be most easily purchased on major cryptocurrency exchanges. Binance, in particular, offers FDUSD trading pairs; for example, you can exchange USDT or BTC for FDUSD. It is also listed on other international exchanges. If you want to withdraw FDUSD to your own crypto wallet, you can use the address corresponding to one of the supported networks (ETH, BNB, Solana, etc.). FDUSD can be used like a digital dollar for shopping, money transfers, or DeFi transactions.Does FDUSD's value always remain stable?: FDUSD's goal is to maintain its value at $1. First Digital maintains this stability by holding a dollar's worth of reserves for every FDUSD. Normally, the FDUSD price trades around $1 on exchanges. However, in rare cases, short-term fluctuations can occur during periods of low liquidity or market panic. For example, in April 2025, the price temporarily dropped to $0.90 due to rumors, but quickly returned to $1. In such cases, the issuing company quickly maintains price stability through reserve assurance.Is FDUSD reliable? Does it actually have reserves?: FDUSD maintains very high industry standards in terms of reliability. Reserves are managed by a regulated trust company in Hong Kong and are held in accounts completely separate from the company's other assets. Independent auditors publish monthly reserve reports, verifying the amount of USD equivalent to the FDUSD in circulation. During the speculation period in April 2025, First Digital announced that all of its reserves were held in US Treasury bonds and cash. While risk assessment is always necessary in stablecoin investments, FDUSD has a positive record of transparent reserve management to date. What distinguishes FDUSD from other stablecoins?: There are several key differences that distinguish FDUSD from other stablecoins like Tether (USDT), USD Coin (USDC), or TrueUSD (TUSD). First, as a Hong Kong-based initiative, it focuses on the Asian market and operates in a different regulatory environment than Western-based stablecoins. Second, FDUSD's reserves consist entirely of cash and liquid assets; these assets are audited monthly by independent auditors. Furthermore, its rapid adoption with Binance support has given FDUSD a significant advantage. Technically, FDUSD resides on multiple blockchains, and this multi-chain structure makes it highly flexible. In short, FDUSD is a stablecoin distinguished by its Hong Kong-Binance collaboration, high transparency, and multi-chain access.Can I invest in FDUSD, or should I just hold it in dollars?: FDUSD is designed as a means of preserving and transferring value, not an investment instrument. Because its price is fixed, it does not gain value on its own, always maintaining a target of 1 FDUSD ≈ 1 USD. However, there are ways to generate indirect income using FDUSD. For example, you can earn interest by lending FDUSD on DeFi platforms.Or you can add it to liquidity pools and earn a share of trading fees. Some exchanges also offer special campaigns and launchpad privileges to users who hold FDUSD balances. However, FDUSD should be used for value preservation rather than short-term gain. It's also important to remember that crypto assets inherently carry a certain level of market risk.Follow the JR Kripto Guide series to stay up-to-date on the latest developments in the FDUSD and stablecoin world.
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22 Oct 2025
Established US Company Enters Crypto Payments Era in Its 110th Year
Bealls, a well-established US retail chain, has begun accepting crypto payments. Founded in Florida in 1915, the company can now accept payments in more than 99 cryptocurrencies thanks to its partnership with digital payment platform Flexa. This move coincides with Bealls' 110th anniversary and represents a new step in the integration of crypto into daily life in the retail sector.Bealls to Accept Crypto Payments with FlexaThanks to the integration with Flexa, Bealls has integrated the Flexa Payments system into its stores. This system allows payments with popular cryptocurrencies such as Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu, as well as various stablecoins. Furthermore, users can conduct transactions through over 300 digital wallets. The company announced that this system will be available in all Bealls, Bealls Florida, and Home Centric stores. Bealls CEO Matt Beall emphasized in a statement that crypto payments are not just innovation but also preparation for the future: “Our partnership with Flexa is about more than just taking payments; it's about preparing for the future of commerce. Our company has kept pace with changing customer expectations for 110 years, and this takes us a step forward.”Flexa co-founder Trevor Filter described Bealls' move as “a milestone in retail history.” Filter said, “Bealls’ 110-year legacy is extraordinary. It’s no surprise that such a long-established brand would embrace the most significant payment technology evolution the world has ever seen.”Interest in crypto payments is growing. According to a study by Carat Global Platform, 16% of Americans have made at least one purchase with crypto. More than half of respondents said they would like to use crypto for online payments, while one-third said they also prefer to pay with crypto in brick-and-mortar stores. However, 25% of users stated that the limited number of businesses accepting crypto is limiting its adoption. Meanwhile, according to early 2025 data, 65 million American adults, or approximately 28% of the country's population, own cryptocurrencies. This rate suggests that crypto assets are no longer viewed solely as investment vehicles but also as a spendable currency. Bealls joins major brands like Shopify, AMC, and Whole Foods that have embraced crypto payments. This move strengthens the company's efforts to make crypto an "everyday spending tool" in the US retail sector. More chain stores are expected to adopt similar systems in the future. Bealls has launched this application in 660 of its stores, marking one of the most comprehensive in-store crypto payment integrations in the US.
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22 Oct 2025
Historic Step from Hong Kong: First Solana ETF Approved
The Hong Kong Securities and Futures Commission (SFC) has approved Asia's first spot ETF for Solana (SOL). This step marks the country's third crypto spot ETF, following the Bitcoin and Ethereum ETFs.Good news for Solana from Hong KongThe fund, managed by China Asset Management (Hong Kong), will begin trading on October 27. According to the Hong Kong Economic Times, the ETF will be listed on the OSL Exchange, with custody and clearing handled by OSL Digital Securities. Each trading unit will contain 100 shares, and the minimum investment will be approximately $100 (approximately HK$780).The new product is the first Solana fund to be approved, following the Bitcoin and Ethereum spot ETFs. ChinaAMC thus becomes the first manager to simultaneously launch a SOL-based fund in Asia and the US. The fund's management fee is set at 0.99 percent, while custody and administrative expenses are capped at 1 percent of total net asset value. The total annual expense ratio will be 1.99 percent. The ETF is not expected to distribute dividends to investors.Solana ranks sixth in the crypto market with a market capitalization of approximately $100.8 billion. SOL, trailing Bitcoin, Ethereum, Tether, Binance Coin, and Ripple, is ahead of USDC. According to the China AMC, SOL is used as the native token of a decentralized, open-source network; its value is not backed by any institution but is determined entirely by the balance of supply and demand.With this move, Hong Kong's city government provides greater access to the crypto asset market for individual investors. Investors can invest in the Solana ETF with small inflows. This is in line with Hong Kong's vision of a "regulated yet accessible" crypto market.Solana ETFs are also gaining momentum globally. The Solana Spot ETF, offered by 21Shares in the US, was approved by the Securities and Exchange Commission (SEC) earlier this month. The product offers direct access to Solana's spot price and supports staking features, potentially spurring institutional demand.Major fund managers such as VanEck, Bitwise, Grayscale, Franklin Templeton, Fidelity, and CoinShares have also received approval for similar Solana ETF applications. This strengthens Solana's position in the institutional investment ecosystem.While Solana has performed less favorably than Bitcoin and Ethereum since the beginning of the year, growing ETF interest and a succession of regulatory approvals have re-entered investor attention. Price momentum is expected to revive in the last quarter of 2025, driven by Solana's ETF approvals. At the time of writing, the SOL price is down slightly by 0.7 percent, around $184.
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22 Oct 2025
Shocking Decision from Kadena: Shutdowns, KDA Collapsed
Kadena has announced the end of its blockchain journey, which began with high hopes in 2019. The team behind the project announced that it was "immediately" ceasing operations due to increasingly challenging market conditions. Following this decision, the price of the KDA token plummeted, losing more than 50% of its value to $0.09. This decline represents a near-total collapse for KDA, which had peaked above $27 in 2021. Kadena Shocks the MarketIn a statement on its official X account, the Kadena team stated, "We are grateful to everyone who has been with us on this journey. However, due to current market conditions, it has been impossible for us to continue the adoption of this unique decentralized ecosystem." The company announced the cessation of all business activities and active maintenance, emphasizing that the Kadena blockchain's decentralized nature will allow the network to continue operating autonomously.According to the team, the Kadena network will continue to be operated by independent miners, and smart contracts will be managed by their community. The developers announced that they would release a "new binary version" to ensure the network's uninterrupted operation and invite all node operators to upgrade. There are approximately 566 million additional KDA allocated to miners on the Kadena blockchain; this reward distribution will continue until 2139.The New York-based project draws its roots from the traditional finance world. Kadena's founders, Stuart Popejoy and William Martino, were experienced players who had previously worked on the development of Kinexys, one of JPMorgan's blockchain initiatives. Popejoy and Martino set out to bridge the corporate finance and cryptocurrency worlds. While Kadena uses a proof-of-work mechanism like Bitcoin, it positioned itself as a "business blockchain" and aimed to offer an alternative ecosystem to Ethereum with its smart contract infrastructure.In 2022, Kadena launched a $100 million grant program to attract developers. However, even this initiative failed to sustain interest. Over time, transaction volumes declined, community interest waned, and the network fell into the shadow of competing chains. Today, KDA's 24-hour trading volume is just over $50 million, while giants like Bitcoin and Ethereum have daily volumes in the tens of billions of dollars.Kadena, which once boasted of being "bigger than Bitcoin and more reliable than Ethereum," has finally faced the harsh realities of the market. While the project will technically survive thanks to its fully decentralized structure, it no longer has a company behind it.
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22 Oct 2025
XRP Comment and Price Analysis - October 21, 2025
XRP Technical AnalysisThere is a critical threshold for XRP: a new venture backed by Ripple Labs is planning an IPO on Nasdaq with over a billion dollars in funding, and the main objective of this company is to acquire XRP tokens. This development has brought XRP back into the spotlight, especially on the institutional front. Rising Trend Analyzing the chart, we see that XRP still maintains its long-term upward trend structure. After a sharp decline, the price tested the trendline support and has started to recover. The current price is $2.37, which marks a key decision point.The zone between $2.35 and $2.44 is significant, as it combines both trendline and horizontal support. As long as the price stays above this area, the outlook remains positive.In a bullish scenario, the first resistance level is $2.64. If the price breaks above this level, the next targets are $2.85 and $2.93. With continued momentum, the price could move toward $3.13 and $3.42 in the medium term.In a bearish scenario, a daily close below $2.35 could accelerate the correction toward $2.18, with the potential to retest the $1.90 zone — a major long-term support area.Summary:XRP is still holding its primary upward trend.Key support zone: $2.35–$2.44.Resistance levels: $2.64 → $2.85 → $2.93 → $3.13 → $3.42.Staying above $2.35 keeps the trend bullish.A break below $2.35 could lead to a drop toward $2.18 or even $1.90.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.
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21 Oct 2025
TRX Comment and Price Analysis - October 21, 2025
TRX/USDT Technical AnalysisThe total value locked (TVL) in the TRON network has increased by 34% recently, surpassing the $6 billion mark. The rise in on-chain transaction volume, along with TRON's status as the leading blockchain for USDT transfers, has renewed both institutional and retail interest in TRX. Narrowing Triangle Structure Analyzing the chart, we see that TRX continues to trade within a symmetrical triangle pattern, indicating ongoing price compression in the medium term. After the recent sharp drop, the price bounced off the lower boundary of the triangle and recovered to around $0.32 — a sign that buyers remain active at support.In the short term, the $0.3228–$0.3277 zone stands as a key resistance area. Unless TRX breaks clearly above this zone, price action may remain within the triangle. However, the chart structure still favors a potential upside breakout, particularly if supported by strong volume.On the downside, the $0.3095–$0.3040 area acts as short-term support, while the $0.2967–$0.2923 zone serves as a major support level. This zone aligns with the triangle’s lower trendline, where buyers could be expected to step in again if tested.Summary:TRX remains inside a tightening symmetrical triangle pattern.A breakout above $0.3228–$0.3277 could lead to targets at $0.3433 and $0.3700.As long as the $0.3040–$0.2967 support zone holds, the outlook remains positive.A daily close below $0.2923 would invalidate the pattern and likely trigger stronger selling pressure.With the triangle nearing its apex, a strong directional breakout is likely soon — a daily close above $0.3277 would confirm a bullish move.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.
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21 Oct 2025
What is Ethereum Name Service (ENS)?
When it comes to identity, security, and user experience in the Web3 world, one of the most important projects that comes to mind is undoubtedly the Ethereum Name Service (ENS). By converting crypto wallet addresses into human-friendly domain names, ENS not only simplifies transactions with names like "vitalik.eth" but also allows you to create your personal digital identity. ENS simplifies sending cryptocurrencies, reduces the margin of error, and aims to be a cornerstone of the decentralized internet. So, what exactly is ENS, how does it work, how to obtain it, and why has it become so important? In this guide, we will cover every detail of the Ethereum Name Service, from its history and current developments to its technical infrastructure and use cases.Definition and Origins of ENSEthereum Name Service (ENS) is a decentralized system that provides a domain name service for Ethereum by converting crypto addresses into human-readable names. Just as the Domain Name System (DNS) maps IP addresses to website names on the traditional internet, ENS maps long and complex Ethereum wallet addresses to short and memorable names like "vitalik.eth." This allows users to transfer assets using easy-to-remember ENS names instead of complex 42-digit addresses, significantly reducing the risk of typos and resulting losses. This convenience, especially considering the irreversible nature of blockchain transactions, both increases security and significantly improves the experience. The origins of ENS stem from user experience issues experienced in Ethereum's early years. In 2016, Ethereum developer Nick Johnson recognized this need and proposed the idea. Development began under the auspices of the Ethereum Foundation. Johnson and his team, inspired by name resolution systems previously tested on projects like Namecoin, aimed to develop a more efficient solution specific to Ethereum. Rather than building a blockchain from scratch, ENS was built on Ethereum itself; the system was designed to work entirely with smart contracts. Prominent figures such as Alex Van de Sande from the Ethereum Foundation also contributed to the process.ENS officially launched on the Ethereum mainnet on May 4, 2017. Initially, only domain names with the extension ".eth" were supported, and the system operated by auctioning names longer than seven letters. At the time, the method used was a Vickrey-style auction; users would place private bids for the .eth name they desired. When bids were opened, the highest bidder would receive the name, but only the second-highest bid would be paid. As long as the winner held the name, this fee was locked in the smart contract.During this process, some domain names exchanged hands for significant amounts. For example, "exchange.eth" was sold for approximately 6,660 ETH, or around $600,000 at the time. These and similar sales resonated strongly within the crypto community and rapidly increased interest in the idea of a "digital domain name."Immediately after launch, the ENS project continued to grow rapidly, supported by a $1 million grant from the Ethereum Foundation. In 2018, Nick Johnson used this funding to establish a Singapore-based non-profit company: True Names Ltd. (now ENS Labs). This allowed the project to become independent of the Ethereum Foundation.The project's primary goal was to reach as many users as possible while maintaining its decentralized structure. The goal was also to be compatible with traditional DNS systems. Therefore, the team didn't limit itself to the .eth extension; Integration efforts have begun to allow the use of different extensions like .xyz and .luxe with the ENS infrastructure. Over time, some existing DNS domain names have also become resolvable through ENS.ENS History: Major MilestonesThe ENS project has reached its current status over the past few years through a series of technological developments and community initiatives. Let's take a look at the significant milestones ENS has achieved since its launch.2017: Inception and initial registrations - ENS went live on the Ethereum mainnet in May 2017. Initially, only names with .eth extensions of seven or more characters were supported, and these names were distributed through a Vickrey-style auction system. Immediately after launch, hundreds of thousands of Ethereum addresses began matching ENS names. The launch was originally planned for March 2017, but was briefly postponed due to a technical vulnerability. After the necessary fixes were made, the system was seamlessly activated in May. During this period, the Ethereum Foundation provided both technical and financial support to the project, contributing to ENS's growth on a solid foundation.2018: The Project's Institutionalization - 2018 was a turning point for ENS. The Ethereum Foundation provided Nick Johnson with a $1 million grant to support the project's development. Johnson used this funding to establish True Names Ltd., a Singapore-based non-profit. Thus, ENS began forging its own path, independent of the Ethereum Foundation. Later that year, with the integration of DNS-based domain name extensions such as .luxe and .kred into the ENS system, traditional domain name owners could also use their names on ENS.2019: Permanent Registry System and New Features - In May 2019, ENS made a significant change, switching to a perpetual registry. Instead of auctions, a renewable model was adopted with an annual fee. With this system, names with the .eth extension began to be represented as NFTs under the ERC-721 standard. Users could now hold their names as NFTs directly in their wallets. That same year, short ENS names of 3 to 6 letters were first released and distributed in a two-month auction on OpenSea. With a new feature introduced in October, multiple blockchain addresses (e.g., BTC, LTC) and text-based information (e.g., email address, Twitter username) can be added to a single ENS name. This has transformed ENS into a decentralized identity platform equipped with multi-chain support and personal information, not just for Ethereum addresses.2020: Ecosystem integrations - In 2020, ENS took significant steps toward its decentralized web vision. In January, IPFS and Swarm content hash records became active on ENS. This allowed users to not only link their ENS names to their wallet addresses but also use them to host decentralized websites. With this development, ENS began rapidly progressing toward becoming a cornerstone of the Web3 world. That same year, there was a noticeable increase in browser and wallet integrations. Browsers like Brave and Opera can now directly open sites with .eth extensions. ENS support on the wallet side also became widespread. Chainlink also provided financial support to ENS, renewing confidence in the project. As a result of these developments, the number of registered names on ENS has steadily increased.2021: The DAO and ENS token launch - 2021 was one of the most critical turning points for ENS. In November, the ENS community decided to transition the project to a fully decentralized structure. With this decision, the ENS DAO was established, and the ENS token was launched to ensure governance. ENS tokens were distributed retroactively on November 8, 2021. This means that anyone who previously registered and used a .eth domain name was entitled to a certain amount of ENS tokens based on their usage time and participation. Of the total 100 million ENS supply, 25% was allocated to domain name owners, 25% to project contributors (developers, community members, etc.). The remaining 50% was transferred to the ENS DAO treasury. The airdrop process generated considerable interest. During the first week, users who requested the distribution received an average of $5,000-$6,000 worth of ENS tokens. Some users even earned tens of thousands of dollars from their airdrops. ENS's token price fluctuated between $40 and $85 in the early days, propelling the project to billion-dollar valuations. An innovative process was implemented during the token distribution process, such as requiring users to approve the governance agreement. Thanks to all these details, the ENS airdrop became known as "one of the most successful airdrops" in the crypto world. As of November 2021, ENS became a fully community-controlled protocol. ENS's initial distribution. Source: ENS DAO 2022: Explosive Growth - While the crypto market experienced some ups and downs in 2022, the outlook for ENS was much brighter. Demand for ENS domain names increased significantly, particularly during the summer months. More than 430,000 new .eth names were registered in September alone, the highest number ever seen in a single month. By the end of the year, the total number of ENS registrations had surpassed 2.8 million. This means that 80% of all registrations since 2017 occurred in 2022 alone. In short, it was a record year for ENS. During this period, short and rare names like "000.eth" sold for high prices. For example, 000.eth sold for 300 ETH, equivalent to millions of dollars at the time. Such sales further fueled interest in three-digit ENS names and created a new user base trading domains for investment purposes. 2022 was also a very productive year for the ENS DAO. In September alone, $4.3 million was generated from registration renewal fees.2023: Technological improvements and scaling - 2023 was a year of significant technological updates for ENS. The most notable innovation was the ability to turn subdomains into independent NFTs with the Name Wrapper feature. For example, a company can define subdomains like product.marka.eth under marka.eth and distribute them. Another major development was ENS's integration with Layer-2 networks. Thanks to the CCIP-Read solution announced in July, ENS subdomains became available on platforms like Coinbase's Base network. The success of this integration was demonstrated by the registration of over 750,000 *.base.eth in the first month of its launch. By the end of the year, ENS had reached a total of 3.5 million registered names and over 800,000 users, further increasing its reach.2024: In 2024, ENS entered a new era, both technically and institutionally. The Cayman Islands-based ENS Foundation was established to ensure the sustainability of the project. While the Foundation handled the legal affairs, ENS Labs continued to focus on technical development.2025: Throughout the year, progress toward technological integrations, Web3 identity solutions, and L2 (Layer-2) support accelerated. As of October, the ENS coin price was around $15. Why is ENS Important?It's no coincidence that ENS has gained popularity so quickly and become a cornerstone of the Web3 ecosystem. So, what makes ENS different and important? Below, we'll discuss the key advantages and features of ENS under various headings.Human-Friendly Addresses and Ease of TransactionsEntering long and complex addresses when sending cryptocurrency can often be a source of stress. Even a small typo can lead to the loss of all funds. This is where the Ethereum Name Service (ENS) comes in. ENS converts complex hexadecimal addresses into a format that's easily readable.For example, instead of a complex address like 0xb8c2...a267d5, simply typing foundation.eth makes addresses more memorable and eliminates the risk of misspellings. Now, when someone wants to send you ETH, they don't have to copy and paste your wallet address; they simply type your ENS name, for example, "ahmet.eth." The system automatically redirects them to the correct address represented by that name. This is particularly convenient for mobile users, as copy-paste errors or character confusion are a thing of the past.Web3 ID and a Single Digital IdentityENS isn't just a system that simplifies addresses. It's also a decentralized digital identity infrastructure. An ENS name can be central to your entire digital identity.For example, consider the name alice.eth. This name isn't just a wallet address; it can also include the owner's email address, username X, website link, or other social media profiles. All of this information is added to the text records on the ENS. Thus, alice.eth essentially becomes the "username" in the Web3 world.Many sites today support the "Sign-In with Ethereum" feature. This allows users to log in with their ENS names instead of entering a password or email address. This paves the way for ENS names to become a universal user identity in the Web3 universe in the future. ENS also stands out with its support for subdomains. For example, if a company has the name company.eth, it can create sub-identities for its employees, such as ali.sirket.eth. This way, everyone can have their own on-chain identity.Decentralization and censorship resistanceAnother aspect that makes ENS so special is that it is built on a completely decentralized infrastructure. While authorities like ICANN or private registrars manage domain names in traditional DNS systems, ENS names are held directly through smart contracts on the Ethereum blockchain. This means that you completely control a .eth domain name you own. No institution or company can take it from you, close it, or modify it.This feature is especially important in environments with high censorship risks. Thanks to ENS, when a website hosted on IPFS is associated with the .eth extension, that site becomes much more resistant to traditional internet blocking. Users can access these sites by directly typing example.eth in browsers like Brave. Content can also be viewed in other browsers through gateways like example.eth.limo.Broad ecosystem supportAnother reason ENS has become so powerful is its compatibility with nearly the entire crypto ecosystem. Today, many wallets, exchanges, and dApps have integrated ENS support into their systems. For example, in wallets like Metamask, Coinbase Wallet, or Trust Wallet, it's possible to make direct transfers by typing the ENS name instead of the address. Block explorers like Etherscan automatically display ENS names, and OpenSea includes ENS domains among NFT collections.ENS supports not only Ethereum addresses but also various blockchain addresses. For example, Bitcoin, Dogecoin, or Litecoin addresses can be added to ahmet.eth. This allows a user to send BTC to Ahmet's Bitcoin address simply by typing ahmet.eth from a compatible wallet.Thanks to its extensive integration network, users can be identified and transacted on different platforms with a single name. Community ManagementOne of the main reasons ENS has become so important is its entirely community-driven structure. With the launch of the ENS token in November 2021, the project launched the ENS DAO (decentralized autonomous organization). Since then, decisions that determine the protocol's fate—such as registration fees, updates, and treasury usage—are now made by the community. The ENS token is at the heart of this system. Each token grants its holder voting rights; the more tokens you own, the more say you have. For example, before the DAO makes any changes to registration fees, it puts them to a vote, with a majority decision determining the final decision. Thanks to this democratic structure, ENS is governed entirely by the collective will of its users, without being controlled by any single company or investor. ENS DAO mechanics. Source: ENS DAO ENS's economic model was designed with the same approach. When a user obtains a new ENS name or renews an existing registration, the fee is transferred directly to smart contracts on the Ethereum network. These revenues are automatically transferred to the ENS DAO treasury. This means that as the number of registrations increases, the DAO's treasury grows. When the project was first established, 50% of the total supply (50 million ENS) was transferred to the treasury. This fund, combined with user payments, has created a strong and sustainable financial structure.ENS DAO uses these funds not only for the development of ENS but also to support open-source projects that contribute to the Ethereum ecosystem. This system has created a self-funded, community-driven economy.ENS Founder and Project TeamEthereum Name Service (ENS) was created by experienced developers in the Ethereum ecosystem and has grown with strong community support. The project's founder is Nick Johnson (nick.eth), who previously worked as a software engineer at Google. Johnson developed the idea for ENS and assumed technical leadership for the project during his time at the Ethereum Foundation. Another key member of the team is interface developer Alex Van de Sande (avsa.eth). These two led the core team that prepared for the 2017 launch.In 2018, Johnson founded a non-profit organization called True Names Ltd. (now ENS Labs Ltd.) with a grant from the Ethereum Foundation. This Singapore-based team continues to develop and update ENS's core software. The team featured prominent figures such as smart contract engineer Jeff Lau and longtime community communications manager Brantly Millegan.ENS has grown remarkably without any venture capital investment. Initial funding came solely from the Ethereum Foundation and a 2020 Chainlink grant. No exclusive shares were allocated to founders or investors in the token distribution; all tokens were distributed directly to users and contributors. Thanks to this transparent structure, ENS is considered a "fully public" project.Many individuals, including Ethereum founder Vitalik Buterin, have long supported ENS. Even centralized companies like Coinbase have voting rights within the ENS DAO. On the DAO side, various working groups, such as those dedicated to ecosystem, technology, and public goods, meet regularly, with community revenues going towards both the development of the ENS and open-source projects within the Ethereum ecosystem.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about the Ethereum Name Service (ENS):What is the Ethereum Name Service (ENS) and what does it do?: ENS is a system running on Ethereum that converts long crypto addresses into readable names. For example, you can use "username.eth" instead of 0x..., making transactions easier and more secure. The ENS token serves as a governance tool and grants its holders voting rights within the DAO.What networks does ENS work on?: ENS primarily runs on the Ethereum mainnet, but some Layer-2 networks like Base also offer ENS support. Classic DNS domains like .xyz and .luxe can also be connected to ENS. So, while ENS is Ethereum-centric, it offers multi-chain functionality.Who founded ENS?: ENS was developed in 2017 by Nick Johnson and Alex Van de Sande within the Ethereum Foundation. After 2018, Johnson founded True Names Ltd. (ENS Labs) became independent. Today, governance is carried out by the community-based ENS DAO.When was the ENS coin/token launched, and what was its price like?: The ENS token was launched in November 2021 and traded in the $40–$85 range in the early days. Although it later fell below $10 depending on market conditions, it stabilized in the $15–$20 range after 2023. Its all-time high was $85 in November 2021.What does the ENS token do?: The ENS token provides voting rights in the DAO's governance. Token holders can vote or delegate on matters such as registration fees and updates. ENS tokens are tradable, but name registration and renewal fees are still paid in ETH.Has an airdrop been made, or will there be another one?: Yes, a large airdrop was made to .eth holders in November 2021, distributing 50% of the total supply. This was a one-time reward process. The ENS team has clearly stated that they have no new airdrop plans.Is ENS reliable, and is it worth investing in?: ENS has a secure smart contract infrastructure that has been operating since 2017. It is considered reliable because it is one of Ethereum's most widely used protocols. However, since the ENS token price is volatile, investment decisions should be made based on personal risk tolerance.What other features does ENS have?: ENS comes with many features, including reverse registration, subdomains, and content hashing. Users can add websites, avatars, or social accounts to their names. With the Name Wrapper update coming in 2023, transferring subdomains as NFTs is also possible.Your internet identity is now just a .eth away. Explore the JR Crypto Guide to stay up-to-date on developments in the ENS and Web3 domain world.
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21 Oct 2025
US-China Tensions Escalate: Bitcoin and Altcoins Fall
Bitcoin retreated to just above $107,000, partly due to tensions between the US and China. This market decline suggests that investors are increasingly risk-averse in the face of uncertain macroeconomic developments and rising tensions between the US and China. Investors are particularly excited ahead of US President Donald Trump's meeting with Chinese President Xi Jinping later this month. Data suggests that crypto investors have begun to reduce their positions.According to market data, Bitcoin price has fallen 2.44 percent in the last 24 hours, falling to $107,830. The largest cryptocurrency by market capitalization has seen a 3.7 percent weekly loss. After a brief recovery at the beginning of the week, BTC has tested the $111,200 level, and is experiencing renewed selling pressure. Some analysts predict this volatility will continue in the short term. For example, according to BTSE COO Jeff Mei, "macro concerns are currently driving the market's daily movements." According to Mei, volatility will continue as trade tensions between the US and China continue. Mei emphasized that the main reason for the decline was investors reducing their positions ahead of the Trump-Xi meeting. The meeting is expected to take place in South Korea at the end of the month. “The possibility of an agreement at the end of the month could temporarily calm the markets, but it is unlikely that the tension will completely disappear,” he added. He also stated, “The biggest risk for crypto markets today is the unpredictability of macro developments. Even a single tweet can move prices up or down. The most logical thing investors can do is diversify their portfolios and hedge against uncertainty.”What's the latest on the crypto market?These macro pressures affected not only Bitcoin but also leading altcoins. Ethereum fell 4.77 percent to $3,855, while BNB traded at a 5.36 percent loss. Solana also fell 4.6 percent. Outflows from spot crypto ETFs also continued. According to market data, there were net outflows of $40.5 million from spot Bitcoin ETFs and $145.7 million from spot Ethereum ETFs. Last week, BTC ETFs had their worst weekly outflow of recent times, with a net outflow of $1.23 billion.The weak performance of both individual and institutional investors indicates a deterioration in market sentiment. The Fear and Greed Index is currently at 29, in "fear" territory. Meanwhile, investors are focusing on the US Consumer Price Index (CPI) data, which will be released this week. This data is critical for understanding the inflation trend. The market believes that if the data is weak, the probability of a 25 basis point interest rate cut by the US Federal Reserve (Fed) this month increases. According to CME Group's FedWatch tool, this probability is priced in at 98.9%.Will trade tensions spill over into geopolitical areas? There's talk that the tensions in US-China relations may not be limited to trade but could spill over into geopolitical areas like the South China Sea and Taiwan. The Trump administration has issued stern warnings against China's imposition of sanctions on companies investing in US-based strategic industries. China's recent restrictions on the US branches of South Korea's Hanwha Ocean have ignited a new economic conflict between the two countries centered on maritime and defense industries.
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21 Oct 2025
LDO Comment and Price Analysis - October 20, 2025
LDO/USDT Technical OutlookLido DAO, which manages the majority of the staked assets on Ethereum, stands out again with the increasing interest in liquid staking. In particular, while the demand for corporate staking solutions is increasing, the LDO price has started to reflect this interest on the charts. Falling Channel Structure Analyzing the chart, we see that LDO continues to follow a clearly defined descending channel structure that has been in place for quite some time. Each time the price attempts to rise, it faces selling pressure near the upper boundary of the channel. Conversely, when it approaches the lower boundary, buyers tend to step in. This pattern shows that the downtrend is still active, but the price is now trading near a strong support zone at the bottom of the channel.LDO is currently trading around $0.88, holding just above the critical support area at $0.82. This level acts as both channel support and a key horizontal level, making it a significant threshold for price stability. A bounce from this region could push the price toward $0.98–$1.04 in the short term. The midline of the channel sits around $1.23, while the upper boundary is located between $1.45 and $1.54. A breakout above this upper range would signal a potential trend reversal, opening the door for an extended move toward $1.85 and $2.49.If the $0.82 support fails to hold, selling pressure is likely to increase. In that case, the next support levels lie at $0.70 and then $0.64–$0.60 — an area that aligns with the lower edge of the descending channel and could act as a final defense zone for buyers.Summary:LDO remains within a well-defined descending channel.Current price: $0.88Key support: $0.82 → holding this zone is critical for potential recovery.Resistance targets: $0.98–$1.04 (short-term), $1.45–$1.54 (upper channel), $1.85–$2.49 (if breakout confirmed).Break below $0.82 could deepen the correction toward $0.70–$0.60.Overall, the structure still favors consolidation near the channel bottom — watch for a reaction from current support.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.
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20 Oct 2025
BIO Comment and Price Analysis - October 20, 2025
BIO/USDT Technical AnalysisToday brings exciting news for BIO — the token has been listed on Upbit, one of South Korea’s largest and most popular crypto exchanges. This listing has once again brought attention to BIO’s potential in the biotechnology and blockchain sectors, sparking renewed investor interest.Now, let’s move on to the technical side and take a closer look at what’s happening on the chart. Dish - Handle Formation On the BIO chart, we can clearly see a large cup formation followed by a developing handle pattern. Currently, the price is trading around $0.1200, holding above the lower boundary of the handle at $0.1148 — which keeps the pattern valid.The handle is forming within the $0.11–$0.18 range. As long as the price stays above this zone, the structure supports the potential for an upward breakout. The key resistance level to watch is $0.1874. If the price closes above this point, it would confirm a bullish breakout, and we could expect momentum to accelerate.According to a bullish scenario, the first target would be $0.2690, followed by a resistance zone between $0.3059 and $0.37. A break above this area could open the way toward the technical target at $0.4554. In the longer term, the formation offers potential for a move up to around $0.6184.According to a bearish scenario, $0.1148 remains the most critical support. Losing this level could trigger a drop toward $0.0771, invalidating the handle formation.Key Levels to WatchSupport levels: $0.1148 → $0.0771Resistance levels: $0.1874 → $0.2690 → $0.3059 → $0.4554 → $0.6184This analysis does not provide investment advice. It focuses on potential short- and medium-term support and resistance zones that may offer trading opportunities under certain market conditions. All trading decisions and risk management remain the trader’s responsibility — and using a stop-loss is strongly recommended.
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20 Oct 2025
What is Aster (ASTER)?
Aster (ASTER) is a next-generation cryptocurrency exchange platform that combines spot and perpetual trading under one roof and stands out for its decentralized structure. After launching in September 2025, it quickly attracted attention with its multi-blockchain support, up to 1001x leverage, and privacy-focused MEV-protected infrastructure. The project also received support from YZi Labs, the investment arm of Binance co-founder CZ, adding further credibility to the platform. In the first week after its launch, both trading volume and token price saw a significant surge. So, what is Aster, how did it come about, and why is it so popular? In this guide, we will delve into all of these questions in detail: what is Aster, what does Aster Coin do, and how does it work.Aster's Definition and OriginAster is a hybrid DEX that strives to combine the trading quality of centralized exchanges (CEXs) with the freedom of the DeFi world. Users can trade while holding their assets in their own wallets, and both spot and perpetual trading can be conducted on the same platform. Because it can draw liquidity from different networks like Ethereum, BNB Chain, Solana, and Arbitrum, no additional steps are required for cross-chain transfers. One of the platform's most prominent features is its capital efficiency. Yielding assets, such as asBNB or USDF, can be used as collateral. This allows for passive income even when a position is open. This means you can not only trade but also continue to collect staking income.Aster's foundations were laid in 2024 with the merger of two projects, Astherus and APX Finance. APX was already an experimental project focusing on perpetual transactions; after the merger, a new vision was launched under the name Aster DEX. The ASTER token was launched in September 2025. APX tokens were converted into ASTER tokens at a one-to-one ratio, and this transition generated considerable interest in the crypto world. Support from CZ and former Binance staff was rumored, adding significant confidence to the project. The development team designed Aster as an advanced yet user-friendly DEX that enables professional-level trading. It's no coincidence that it stands out with its multi-chain structure, detailed order types like stop-loss, and privacy features; the team targeted these gaps from the outset.Aster's starting point was to combine the speed and depth of centralized exchanges with the free architecture of DeFi. The primary goal was to provide users with access to professional tools and high liquidity while maintaining control over their assets. Furthermore, the fragmented nature of cross-chain liquidity was also seen as a significant problem. Aster aimed to address this by combining assets from different networks within a single interface. When bringing traditional financial instruments like futures to DeFi, particular emphasis was placed on capital efficiency and transaction privacy.Aster's History: Key MilestonesDespite being a relatively new project, Aster has made significant strides in a short time. Its foundation was laid by the merger of two separate protocols; The rapid growth that followed, the explosion of funds during launch week, and the widespread airdrop distributed to the community instantly propelled the project into the crypto spotlight. Now, let's take a closer look at the stages Aster went through and what happened when.2024: The Project's Birth - Aster's first step was taken with the merger of Astherus and APX Finance. APX was previously a project focused on perpetual transactions; with the merger, this experience continued under the Aster umbrella with a broader vision. Throughout 2024, the team focused on building the multi-chain architecture and yield-generating collateral system.September 2025: Token Launch and Rapid Rise - The ASTER token was launched in September 2025. APX holders exchanged their tokens for ASTER at a one-for-one rate. Immediately after the launch, the Aster DEX saw a significant influx of users. The ASTER price surged by over 2,000% in seven days, reaching a market capitalization of approximately $3.8 billion. This brought ASTER into the top 50 cryptocurrencies. That same week, Aster had days where it surpassed Hyperliquid in daily revenue. However, in terms of total trading volume, Hyperliquid still had a slight lead, reaching $5.39 billion for the week compared to $3.32 billion for Aster. October 2025: Exchange listing and airdrop - ASTER was listed on Binance in October and began trading with the "Seed Tag" tag. This tag is generally given to innovative and early-stage projects. A significant airdrop took place around the same time. 8.8% of the total supply, or 704 million ASTER, was distributed to users who participated in various campaigns. Airdrop winners included those who accumulated Spectra points, Aster Gems through community tasks, and early Aster Pro users. The deadline to claim tokens was October 17th. Tokens not claimed after this date were returned to the community reward pool. Since this pool comprises a large portion of the total supply, at 53.5%, a new airdrop is expected in the future. ASTER airdrop portal After 2025: Aster Chain and Future Plans - After the launch, the Aster team announced its new goal: to launch its own Layer-1 blockchain. Aster Chain will work with privacy technologies like zero-knowledge proofs. The goal is to keep transaction details private while ensuring on-chain verification. Testing began by the end of 2025. With Aster Chain's launch, the multi-network architecture will be migrated to a single, high-performance, privacy-focused chain. The team is also working on new features such as an "intent-based" transaction system, which will intelligently route transactions based on user intent and automatically switch between different liquidity pools.Why Is Aster Important?Aster's rapid rise to prominence is no coincidence. The project has distinguished itself in both technology and user experience. While there are already many players in the decentralized exchange space, Aster stands out from the crowd thanks to its privacy-focused architecture, capital efficiency, and multi-chain support. Let's take a look at each of these elements that make Aster different.Multi-chain liquidity and accessAster was designed from the outset with multi-chain support at its core. It currently works with leading networks such as BNB Chain, Ethereum, Arbitrum, and Solana. This allows users to easily buy and sell their assets across different chains through a single interface. Concentrating liquidity typically dispersed across DEXs in one place significantly simplifies both time and transaction costs. With Aster, you can switch between chains with a single click, eliminating the hassle of token bridges, making the platform both practical and accessible.High leverage and advanced derivativesOne of the most striking aspects of the Aster DEX is its flexibility in leveraged trading. The platform offers leverage of up to 1001x on some currency pairs, exceeding industry standards. For comparison, Binance offers a maximum leverage of 20x, while Hyperliquid is limited to 40x. Such high leverage certainly creates an attractive platform for experienced and risk-averse investors; however, beginners should approach the market cautiously. Because Aster focuses on perpetual futures, users can open long or short positions without waiting for expiration. It also operates with the order book system familiar to professional traders, supporting advanced tools such as stop-loss, take-profit, and trailing orders. This allows for more precise strategy management and easier risk control. Leveraged trading example on Aster DEX. Capital Efficiency and Innovative Collateral SystemAster takes capital efficiency to another level with its "earning collateral" approach. While assets deposited as collateral remain passive on most platforms, on Aster, these assets continue to earn returns even while trading. For example, when liquid staked BNB (asBNB) is used as collateral, BNB staking rewards continue to accrue throughout the transaction. Similarly, USDF, the yielding stablecoin within Aster's own ecosystem, can be used as collateral. This system both prevents capital from being wasted and reduces users' opportunity costs. This product line, called "Aster Earn," combines the liquid staking and interest-bearing token models of DeFi with derivatives trading to offer users a more efficient experience.MEV resistance and privacy-focused transactionsOne of the common problems in the DeFi world is front-running, where miners pre-empt transactions at the users' expense. Aster uses advanced solutions such as zero-knowledge proofs (ZK proofs) and hidden orders to address this issue.Thanks to hidden orders, large investors can take positions without publicly disclosing the size of their trades. This makes market manipulation and "whale tracking" more difficult. CZ also stated in a statement in 2025 that fully transparent exchanges are not always ideal for large transactions, and that Aster's privacy approach offers a more balanced solution in this regard.User-friendly interface and dual-mode supportAster offers two different trading modes for users of all levels. Simple Mode offers a simple interface with one-click trading. Users who prefer not to bother with technical details can easily trade through the Aster Liquidity Pool (ALP). Pro Mode caters to more experienced traders. It creates the feel of a centralized exchange with its order book view, depth chart, advanced charts, and various order types. This dual-mode structure makes Aster one of the few DEXs that appeals to both beginners and professionals. While its competitor, Hyperliquid, caters exclusively to professional users, many simple DEXs lack advanced tools.Community-Focused Governance and SupportAster's token structure and governance model are centered around community participation. The ASTER token is used not only to pay transaction fees but also to influence decisions about the platform's future. The total supply is limited to 8 billion units, 53.5% of which is allocated to airdrops and community rewards. This incentivizes early adopters and strengthens their commitment to the project. Token holders can participate in voting on protocol updates, fee rates, or treasury usage. While Aster enjoys strong support from YZi Labs and Binance, it prioritizes maintaining community-focused governance. Aster's Founders and TeamAster is backed by a team experienced in decentralized finance and strong strategic backers. The core team consists of developers who worked on the Astherus and APX Finance projects before their merger in 2024. This team combined their expertise in derivatives and DeFi infrastructures under the Aster umbrella to build both the technical structure and innovative features. While the project may not have a prominent face, CEO Leonard has spoken about the Aster Chain vision and future plans in interviews.One of the details that makes Aster stand out is the strong investment support it has received. The project is funded by YZi Labs, an investment firm originating from Binance Labs. Binance founder CZ's interest in the project and his support on social media have built trust in the community. Furthermore, several venture capital funds and angel investors in the industry also contributed to Aster in the early stages. These backers not only provided financial resources but also facilitated the project's growth in terms of liquidity and collaboration. Just one of many posts CZ has shared about ASTER. On the community side, Aster quickly gained a large user base. Tens of thousands of people follow the project on its official social media accounts; airdrop and bounty campaigns in September and October 2025, in particular, accelerated this growth. Many users continue to trade on the platform for new bounty and airdrop opportunities. Community members also have a say in the future of the platform through governance votes.The team places great importance on direct communication with users. Regular AMA (Ask Me Anything) events, guideposts, and educational content help the community better understand both the project and the DeFi world. On the developer side, open documentation and incentive programs are offered to independent developers who want to integrate the Aster protocol. This will eventually create a broader ecosystem and third-party application network around Aster. Frequently Asked Questions (FAQ)Below, you can find some frequently asked questions and answers about Aster:What is Aster (ASTER) and what does it do?: Aster is a multi-chain decentralized exchange that supports both spot and perpetual transactions. Users can buy and sell assets across different networks from a single location, open leveraged positions, and maintain full control within their own wallets. In short, Aster combines the convenience of CEX with the freedom of DeFi. The ASTER token is used for transaction fee reductions, staking, and governance voting.What networks does Aster operate on?: Aster currently operates on the BNB Chain, but it also combines liquidity from Ethereum, Arbitrum, and Solana networks. This means users can trade from a single interface without switching between different networks. With the Aster Chain, which will be launched in the future, transactions will be faster and more private.Who founded Aster?: The project was born in 2024 with the merger of the Astherus and APX Finance teams. While no official founder is identified, Leonard is known as the CEO. Aster is also backed by YZi Labs, a subsidiary of Binance Labs, so CZ also has indirect support.When was the ASTER coin released, and what was its price like?: The ASTER token was launched in September 2025. Its price increased by over 2,000% during its launch week, reaching a market capitalization of $3-4 billion. It quickly became a top-50 cryptocurrency, but its price is quite volatile because it's still a new project.What does the ASTER token do?: ASTER is at the core of the Aster ecosystem. It offers discounts on transaction fees, allows for revenue generation through staking, and voting rights in community polls. It is also planned to be used as the native token of Aster Chain in the future.Has an airdrop been made, and will there be more?: Yes. During the launch period, Aster distributed 8.8% of the total supply to early adopters. Unclaimed tokens after this campaign were transferred to the community reward pool. Due to the large pool, the possibility of a new airdrop is high, and the community is optimistic about it.Is Aster reliable and worth investing in?: Aster is a technically innovative project with strong supporters. However, because it's still new, the risk factor is high. Leveraged transactions may pose a risk of regulatory or technical issues. It's best to follow project developments and start with small amounts before investing.What other products does Aster offer?: With the Aster Earn system, users can earn passive income from staking or interest-bearing products. New products like tokenized stock futures are also being added. Commodity and index derivatives are expected to be available on Aster soon.Follow the JR Kripto Guide series to stay up-to-date on the latest developments in the Aster and blockchain world.
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20 Oct 2025
ARB Comment and Price Analysis - October 17, 2025
ARB/USDT Technical AnalysisAnalyzing the ARB chart on a weekly timeframe, we observe that the descending channel structure remains intact. The price recently moved up to test the upper border of the channel but failed to hold, resulting in renewed downward pressure. As long as no breakout occurs, the price is likely to continue trading within the boundaries of the channel. Falling Wedge Formation ARB is currently trading around $0.4091. It recently surged to $0.4515 but was unable to sustain the move and reversed downward. This level now stands as the most critical short-term resistance. If the price can close above $0.4515, ARB may target the next resistance levels at $0.5046 and $0.5475. A confirmed breakout would require a strong move above the range of $0.66–$0.71. Once this range is surpassed, we can begin to talk about the mid-to-long-term technical target of the channel formation: $2.42.In a bearish scenario, $0.3558 is the first key support to watch. A breakdown below this level could lead to a retest of $0.33, and possibly the lower border of the channel around $0.28.Summary:ARB continues to trade within a descending channel.A daily close above $0.4515 is critical for short-term trend reversal.Resistance levels: $0.5046 → $0.5475 → $0.66–$0.71Support levels: $0.3558 → $0.33 → $0.28Mid-to-long-term technical target: $2.42 (if the channel breaks 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, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
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17 Oct 2025
What is UNUS SED LEO (LEO)?
UNUS SED LEO (LEO) is the utility token at the heart of the iFinex ecosystem, the company behind the cryptocurrency exchange Bitfinex. Launched in 2019, LEO aims to both increase platform loyalty and create a value cycle within the ecosystem by offering Bitfinex users various advantages. The name derives from the Latin phrase "unus sed leo," meaning "one, but lion (alone, but powerful). In this guide, we will examine the LEO token's functions, how it emerged, its history, technical structure, use cases, and future prospects step by step.Definition and Origins of UNUS SED LEOUNUS SED LEO (LEO for short) is a utility token developed by iFinex for use on the Bitfinex exchange and related products. LEO token holders benefit from various privileges on the Bitfinex platform, including transaction fee discounts, easy withdrawal/deposit options, and advantages in lending (borrowing/lending) transactions. The primary purpose of this token is to increase user loyalty to iFinex products and create a value capture mechanism by linking platform revenues to the token's value.The LEO token was introduced in May 2019 and quickly launched through a private sale. Bitfinex managed to raise $1 billion in just 10 days through this private sale in May 2019. The token sale was held at a fixed price of 1 LEO = 1 USDT, and all tokens were sold to private investors. LEO quickly became a core asset of the Bitfinex ecosystem. The LEO token was developed by iFinex Inc., Bitfinex's parent company. The global fintech team at iFinex implemented LEO with an infrastructure focused on security and scalability. Paolo Ardoino, CTO of Bitfinex and Tether, led the project's technical leadership. Ardoino and his team aimed to improve the user experience by integrating the LEO token into iFinex's existing systems.The LEO token's creation stemmed from Bitfinex's goal of addressing a financial gap in its ecosystem and creating long-term value. In 2018, governments froze approximately $850 million in funds entrusted to Bitfinex's payment processor, Crypto Capital, leaving the company in a difficult position. To address this shortfall and rebuild user trust, iFinex launched a LEO token sale in 2019, raising approximately $1 billion. The funds raised were used to meet Bitfinex's financial obligations and maintain its operations. Furthermore, LEO was designed not only as a crisis resolution tool but also as a long-term value storage tool within the iFinex ecosystem. iFinex aimed to support the token's value and increase user loyalty by sharing a portion of its platform revenues with the community through LEO.The LEO token is one of the few projects that technically stands out with its dual-chain structure. Since its inception, LEO tokens have been issued on two different blockchains: approximately 66% on the Ethereum network using the ERC-20 standard (660 million tokens) and 34% on the EOS network using the EOSIO protocol (340 million tokens), totaling 1 billion tokens. LEO tokens from both networks are fungible on the Bitfinex platform, giving users the flexibility to simultaneously access Ethereum's extensive DeFi ecosystem and benefit from EOS's low transaction fees. The dual-chain structure provides LEO with cross-platform compatibility and ease of liquidity.While the LEO token has various uses primarily within the Bitfinex exchange, it was designed as a utility asset that extends throughout the iFinex ecosystem. The primary uses for LEO are as follows:Trading fee reductions on Bitfinex: LEO token holders pay lower transaction fees for crypto-to-crypto trades on the Bitfinex exchange. A 15% discount on taker fees, particularly across all cryptocurrency trading pairs, is a key advantage of holding LEO. Additional fee reductions are also available for users holding large amounts of LEO (such as an additional 10% discount for balances above certain thresholds). These discounts provide a significant cost advantage for traders who engage in intensive trading.Lower costs for Lending and Borrowing: In Bitfinex's P2P lending market, the LEO token offers benefits for both lenders and borrowers. Lenders receive a 0.05% discount on commissions for every 10,000 LEO they hold, depending on the amount of LEO they hold, and this discount can reach up to 5% in total. This allows users holding LEO to earn higher net returns on their lending transactions. Borrowers have the opportunity to use LEO tokens as collateral. On the Bitfinex Borrow platform, users can borrow USDT or other assets using LEO as collateral, thus using LEO in their portfolios as a financing tool.Payments with Bitfinex Pay: Bitfinex Pay is a payment gateway that allows online businesses to accept payments with cryptocurrency. In this system, the LEO token can be used as a fast and low-cost payment tool. When an e-commerce site integrates Bitfinex Pay, customers pay low transaction fees by making payments with LEO tokens. Payments made with LEO can also be converted to a fixed asset like USDT, thanks to Bitfinex's instant conversion feature. New token sales and launchpad privileges: iFinex announced LEO in 2019, simultaneously introducing its own IEO platform, Tokinex. On this platform, similar to Bitfinex Launchpad, LEO is positioned as a native utility token. LEO token holders can gain privileges such as early access to new project token sales (IEOs) organized by iFinex or Bitfinex, or guaranteed allotments. For example, users who hold a certain amount of LEO at a launchpad event can pre-emptively guarantee the right to purchase a certain percentage of the newly released token. This adds additional utility to LEO, giving token holders priority access to investment opportunities.VIP status and special programs: Bitfinex offers various VIP programs to customers who trade high volumes on its exchange or hold substantial assets. The LEO token is one factor influencing these VIP levels. Users who hold a significant amount of LEO can earn VIP user status on Bitfinex. VIP users; They receive privileges such as higher withdrawal limits, dedicated customer representative support, reduced transaction fees, and invitations to special events. For example, a user holding more than 50 million LEO tokens can be exempt from monthly fiat withdrawal fees up to $2 million, and the additional fee for withdrawals above this limit will be reduced to 2% instead of 3%.The History of UNUS SED LEO: Key MilestonesThe story of UNUS SED LEO began with a strategic move taken by Bitfinex in 2019 to overcome the challenging financial period it experienced. Born as the iFinex ecosystem's recovery plan, the LEO token quickly became central to Bitfinex's long-term growth model. Let's take a look at LEO's journey from its launch in 2019 to its all-time high in 2025:2019: LEO Launch: iFinex, the parent company of Bitfinex and Tether, launched the UNUS SED LEO token in May 2019. A private token sale raised 1 billion USDT, and the tokens were completely sold within 10 days. That same year, Bitfinex introduced its token burn mechanism in its whitepaper. iFinex announced that it would purchase and burn LEO from the market with a portion of its platform revenues.2020: EOS integration: The EOS-based version of the LEO token became widely used during this period. Bitfinex integrated LEO support on the EOS network, in addition to Ethereum, allowing users to make faster and cheaper LEO transfers. With the full implementation of the dual-chain infrastructure, LEO holders were able to transfer their tokens between the Ethereum and EOS networks through Bitfinex.2021: Ecosystem expansion: This year, Bitfinex diversified its platform by launching new products and services such as Bitfinex Pay and Bitfinex Borrow. The LEO token's usability has also expanded with these innovations. For example, with the launch of Bitfinex Pay in March 2021, online stores began accepting LEO as a payment instrument. Similarly, on the Bitfinex Borrow lending platform, LEO has been integrated into P2P borrowing/lending transactions, becoming part of users' collateral portfolios and offering discounted rates. iFinex announced plans to offer similar benefits to LEO token holders across all new products and platforms it launches in the future. This strategy began to be implemented in 2021.2022: Wider adoption and integration: 2022 marked the beginning of the LEO token's rise to prominence outside the iFinex ecosystem. Integrations with Bitfinex's sister company, Tether, deepened, and LEO became widely adopted as a payment instrument across various platforms. Online businesses that integrated Bitfinex Pay accepted payments in LEO, offering their users an alternative cryptocurrency payment option. iFinex also began considering LEO as a potential utility asset in its new subsidiary ventures, such as Bitfinex Securities.2023-2024: Regular burns and supply reductions: During this period, iFinex continued its promised transparent burn program for the LEO token. Monthly burn reports continued to be published on Bitfinex's real-time LEO Transparency Dashboard, and on-chain burns, occurring every three hours, continued to be shared with the community. By the end of 2024, a significant portion of the total LEO supply had been burned out of circulation; tens of millions of the approximately 1 billion tokens released were permanently destroyed. For example, approximately 51 million LEO tokens had been burned by mid-2021.2025: New High (ATH) and Market Performance: In line with the general recovery trend of the crypto market, the LEO price gradually rose throughout 2024, reaching an all-time high in March 2025. On March 3, 2025, the LEO price broke its own record, reaching approximately $10.01. This level surpassed the previous peak of $8.14 in February 2022 and pushed LEO's market capitalization to over $9 billion. By 2025, LEO had taken the top spot among the largest centralized exchange tokens. Why is UNUS SED LEO Important?So, why is UNUS SED LEO such an important cryptocurrency? The coin's mechanism and ecosystem contain many elements that add value to crypto. We can examine them under the following headings:Deflationary Economic ModelThe most striking feature of the LEO token is its deflationary supply structure. Bitfinex and its affiliates purchase LEO tokens from the market with at least 27% of their consolidated monthly revenue and burn them. This regular buyback and burn mechanism aims to support the token's value by reducing the total supply over time. Since the scarcity of available tokens increases as the supply decreases, the theoretical aim is to exert positive pressure on LEO's market price. The latest LEO burns Advantages in the Bitfinex ecosystemLEO offers tangible benefits for users actively trading on the Bitfinex platform. For example, users who hold LEO can receive up to a 15% discount on trading fees paid on the exchange. Furthermore, LEO holders receive up to a 5% commission discount in Bitfinex's peer-to-peer lending market (P2P lending). Those using LEO collateral on the Bitfinex Borrow service can benefit from lower interest rates. In integrated payments with Bitfinex Pay, LEO also stands out as a tool that minimizes transaction fees and enables fast transfers.LEO TransparencyiFinex has created a "LEO Transparency Dashboard" to ensure full transparency of its LEO token burn program. All LEO amounts burned through this platform and the corresponding transaction IDs are shared in real time. This allows community members to verify on the blockchain that the company's promised buybacks and burns are being carried out regularly. LEO's burn panel. Source: Leo.bitfinex.com Dual-chain structure and broad ecosystemLEO's ability to operate on both the Ethereum and EOS networks offers technical flexibility and cost advantages to its users. LEO tokens on Ethereum enjoy broad exchange and wallet support, while LEO tokens on EOS offer advantages such as low transaction fees and fast confirmation times. This dual-chain structure allows users to choose the most suitable network for LEO transfers based on market conditions. For example, during periods of congestion on the Ethereum network and higher fees, it is possible to transfer LEO over the EOS network at a much lower cost.Furthermore, the LEO token creates a value link between the iFinex group's various products and services, enabling ecosystem integration. The Bitfinex exchange, the Tether (USDT) stablecoin, Ethfinex/DeversiFi, and other iFinex initiatives are indirectly linked to LEO. For example, LEO could potentially play a role in new projects launched by iFinex, or some revenue from Tether transactions could be channeled towards LEO burning. In this sense, LEO is seen as a token that internally fuels the value cycle within the iFinex ecosystem. Because users gain advantages across all platforms of the iFinex family by holding LEO, they become more connected to the ecosystem.LEO Token EconomyWhen considering the value of LEO, it is necessary to consider its token economy. The cryptocurrency's characteristics can be summarized as follows:Total Supply: A total of 1 billion LEO tokens were initially created. Approximately 66% of this supply was issued on Ethereum, and 34% on the EOS network. After the initial distribution, no new LEO tokens were minted.Circulating Supply: Due to regular burns, the circulating supply of LEO is constantly decreasing. The circulating supply, which was 1 billion in 2019, decreased to approximately 923 million LEO by October 2025. The remaining supply was burned by iFinex and completely removed from circulation.Standard: It utilizes the ERC-20 (Ethereum) and EOSIO (EOS) token standards. This means LEO exists as an ERC-20 token on the Ethereum blockchain and as an EOS token on the EOS blockchain. On the Bitfinex platform, users can instantly convert LEO tokens between the two networks.Burning Mechanism: At the heart of LEO tokenomics is the buyback and burn mechanism. As stated in its whitepaper, iFinex pledged to purchase and burn LEO tokens from the market with at least 27% of its consolidated gross revenues each month. This process will continue until there are no tokens left in the market. Furthermore, Bitfinex pledged to accelerate the LEO burn once it recovers from exceptional financial losses in the past. For example, if any portion of the frozen Crypto Capital funds or the assets stolen in the Bitfinex hack are recovered, iFinex announced that it will use 80% of this amount to buy and burn LEO from the market. All burn transactions are executed via smart contracts and are verifiable on the blockchain.UNUS SED LEO Developers and CommunityAs previously mentioned, the LEO token is a centralized cryptocurrency developed by iFinex Inc. iFinex is a global fintech company that operates the Bitfinex exchange and Tether. The company's development team consists of experienced professionals in finance and software. Paolo Ardoino, Bitfinex's technical leader, played a key role in the LEO project's development. As CTO (Chief Technology Officer) of Bitfinex and Tether, Paolo Ardoino led the team that planned and implemented the LEO token's infrastructure. The team's primary goal was to seamlessly integrate LEO into the Bitfinex platform and ensure the token's reliability.The LEO token community largely consists of Bitfinex users and crypto investors who hold the token for the long term. Traders actively trading on the Bitfinex exchange hold the token in their portfolios to take advantage of the discounts and advantages offered by LEO. DeFi investors and long-term supporters of the iFinex ecosystem are also part of the LEO community. Because LEO was initially designed as a centralized token, project management is entirely under iFinex's control. However, thanks to iFinex's transparent burn policy and regular disclosures, we can say that there is a trust-based relationship between the community and the company. For example, iFinex continues to clearly disclose the amount of its revenue allocated to LEO purchases and burns each month.Furthermore, to support the LEO token economy, iFinex keeps the ecosystem vibrant by consistently allocating a portion of its revenue to token buybacks. This model aligns the interests of the company and token holders. As Bitfinex revenue increases, more LEO is burned, increasing the potential for LEO held by existing token holders to appreciate.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about UNUS SED LEO:What is UNUS SED LEO and when was it released?: UNUS SED LEO is a utility cryptocurrency token launched in 2019 by iFinex, the parent company of the Bitfinex exchange. It was issued to offer various on-platform benefits to Bitfinex users and was initially launched in May 2019, raising $1 billion in a private sale.Who developed LEO?: The LEO token was developed by iFinex Inc. The team behind the project is a global fintech team that also manages the Bitfinex exchange. Paolo Ardoino (CTO of Bitfinex and Tether) led the technical development of LEO, and the engineering team under his leadership successfully integrated the token into the Bitfinex ecosystem. Which blockchains does LEO exist on?: The LEO token has a dual-chain structure and exists on two separate blockchains: Ethereum and EOS. While it operates as an ERC-20 token on the Ethereum network, equivalent LEO tokens exist on the EOSIO protocol. Users can easily convert their LEO between these two networks through Bitfinex. (Note: Bitfinex transitioned its EOS-based LEO tokens to its own sidechain called "Vaulta" in 2025, replacing EOS with this private network; however, the underlying functionality remains similar.)What is the LEO token used for?: LEO is primarily designed to benefit the Bitfinex ecosystem. Users who hold LEO receive discounts on transaction fees on Bitfinex, which is particularly important for high-volume traders. LEO also offers commission discounts on lending/borrowing transactions and the ability to be used as collateral. LEO can also be used as a payment instrument when making purchases through Bitfinex Pay, Bitfinex's crypto payment service. In summary, the LEO token, as an on-platform loyalty and utility token, provides users with financial advantages and easier access to additional services.How does LEO's burn mechanism work?: LEO's burn mechanism is based on iFinex's revenue sharing model. At the end of each month, the company repurchases LEO tokens from the market with 27% of the previous month's revenue and burns these tokens, removing them from circulation. This process is planned to continue until all LEO tokens are destroyed. For example, a determined share of Bitfinex's transaction fees, funding revenues, and other operating profits is automatically allocated to LEO purchases. Purchased LEO tokens are irrevocably burned from wallets at regular intervals during the relevant month (the burn process is publicly visible on the blockchain). This mechanism continuously reduces the LEO supply, aiming to support the token's value in the long term. Is LEO suitable for investment?: Since LEO is primarily a utility token, it is designed to benefit Bitfinex users rather than serve as a direct investment vehicle. Of course, LEO's value may increase over time (for example, it reached $10 in 2025, generating significant returns), but this increase is largely dependent on the success of the Bitfinex platform and iFinex's commitment to burning it. Compared to other exchange tokens like Binance's BNB, LEO has a more limited use case and relatively low daily trading volume. Therefore, LEO is more suited to users who believe in the Bitfinex ecosystem and want to establish a long-term relationship. As with any investment decision, investing in LEO requires evaluating one's own risk tolerance and expectations.To closely monitor the future of exchange tokens like LEO and the latest market developments, visit the JR Kripto Guide section.
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17 Oct 2025