Day

April 10, 2025

Synthetix USD stablecoin loses dollar peg, drops to 5-year low of $0.83

April 10, 20250
The Synthetix protocol’s native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg.The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February. Prices continued to fluctuate through...

81.6% of XRP supply is in profit, but traders in Korea are turning bearish — Here is why

April 10, 20250
XRP has struggled to find sustained bullish momentum since reaching its cycle peak at $3.40 on Jan. 16, 2025. XRP (XRP) dropped as much as 46% over the past three months, but despite its recent drawdown, Glassnode data indicates that 81.6% of XRP’s current circulating supply remains in profit. While the profit supply percentage is...

OpenSea urges SEC to exclude NFT marketplaces from regulator’s remit

April 10, 20250
Non-fungible token marketplace OpenSea has urged the US Securities and Exchange Commission to exclude NFT marketplaces from regulation under federal securities laws.The SEC needs to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws,” OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an...

Crypto stocks see big gains alongside US stock market rebound

April 10, 20250
Crypto stocks have surged as part of a broader recovery in the US stock market on April 9 following President Donald Trump’s 90-day pause on sweeping global tariffs.The Wednesday, April 9 trading day closed with Michael Saylor’s Strategy up 24.76% to $296.86, while crypto exchange Coinbase (COIN) closed up 17% to $177.09, according to Google...

3 reasons why Ethereum price keeps falling

April 10, 20250
Ether’s (ETH) most recent sell-off saw it lose the crucial $1,500 support level, and a number of technical indicators suggest that ETH may witness a deeper correction before embarking on a sustained recovery.Data shows Ether’s price dropped below its realized price — an onchain metric that recalculates the market value of a cryptocurrency based on...

Bitwise doubles down on $200K Bitcoin price prediction amid trade tension

April 10, 20250
Institutional crypto investment firm Bitwise has doubled down on its big Bitcoin price prediction for this year despite escalating global trade tensions.“In December, Bitwise predicted that Bitcoin would end the year at $200,000. I still think that’s in play,” Bitwise chief investment officer Matt Hougan said in an April 9 blog post. He suggested that the...

SafeMoon boss cites DOJ’s nixed crypto unit in latest bid to toss suit

April 10, 20250
Braden John Karony, the CEO of crypto firm SafeMoon, has cited the US Department of Justice’s directive to no longer pursue some crypto charges in an effort to get the case against him and his firm dismissed. In an April 9 letter to New York federal court judge Eric Komitee, Karony’s attorney, Nicholas Smith, said the...

Magic Eden acquires crypto trading app Slingshot to move beyond NFTs

April 10, 20250
Solana non-fungible token (NFT) marketplace Magic Eden has acquired crypto trading app Slingshot as part of a strategy to expand beyond NFTs as other marketplaces fold amid a prolonged market downturn.The move expands Magic Eden’s support to more than 8 million tokens across almost every major blockchain, the firm said in an April 9 X...

Bitcoin inflows to Binance see ‘strong acceleration’ ahead of March CPI print

April 10, 20250
Bitcoin inflows into crypto exchange Binance have surged over the past two weeks amid uncertainty over US President Donald Trump’s tariffs and the upcoming US Consumer Price Index (CPI) results, says an analyst.However, another analyst argued that while it could signal an impending sell-off, it might also indicate a bullish trend.Investors are “actively moving funds...

Ukraine floats 23% tax on some crypto income, exemptions for stablecoins

April 10, 20250
Ukraine’s financial regulator has proposed taxing certain crypto transactions as personal income at a rate of up to 23% but excluding crypto-to-crypto transactions and stablecoins.  Crypto transactions would be taxed at 18% with a 5% military levy on top as part of the proposed framework, released on April 8 by Ukraine’s National Securities and Stock Market...
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