Latest news with #Avalanche
Economic Times
2 days ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : Mill City Ventures Invests $450M in Sui
29 Jul, 2025 | 01:55:05 AM IST Mill City Ventures is allocating $450 million to acquire Sui (SUI) tokens, aiming to bridge traditional finance with blockchain technology, backed by notable firms like Galaxy and Pantera. In a significant move for the cryptocurrency landscape, Mill City Ventures has announced a $450 million investment strategy focused on acquiring Sui (SUI) tokens, positioning itself at the intersection of traditional finance and blockchain innovation. This initiative is supported by prominent investors such as Galaxy Digital and Pantera Capital. Meanwhile, Grove Finance is set to launch on Avalanche, deploying up to $250 million in real-world assets to enhance tokenization efforts on the platform. This partnership aims to facilitate the adoption of decentralized stablecoin USDS and attract institutional capital. Additionally, Brickken has integrated with Credefi to create a permissionless lending system utilizing real-world assets as collateral, further expanding the DeFi landscape. In the broader market, Solana's SOL token has seen a 28% increase, generating optimism among traders, although major players remain cautious. Lastly, Tron Inc. has filed a $1 billion shelf registration with the SEC, indicating its commitment to accumulating TRX tokens as part of its evolving corporate strategy. Together, these developments highlight a growing trend of institutional interest and innovative financial solutions within the cryptocurrency sector. Show more
Economic Times
3 days ago
- Business
- Economic Times
Bitcoin hovers near $120,000; Ethereum jumps over 3% amid strong ETF inflows
Cryptocurrency markets surged, with Bitcoin nearing $120,000 and Ethereum leading altcoin gains, fueled by substantial ETF inflows. Ethereum's impressive performance has sparked talks of an "Ethereum season," potentially triggering broader altcoin rallies. Bitcoin is consolidating below resistance, while analysts eye macroeconomic factors and technical patterns for further upward momentum. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS BNB 73,887 ( 7.2 %) Buy Ethereum 3,36,591 ( 3.13 %) Buy XRP 283.32 ( 2.6 %) Buy Bitcoin 1,02,87,327 ( 0.66 %) Buy Tether 86.52 ( -0.02 %) Buy The cryptocurrency market traded higher on Monday, with Bitcoin inching closer to the $120,000 mark and Ethereum leading gains among of 12:15 pm IST, Bitcoin was up 1% at $119,493, while Ethereum surged 3.5% to $3,914, according to data from CoinMarketCap. The overall crypto market capitalisation rose 1.74% to $3.97 continued to outperform Bitcoin, adding to its recent strong performance. 'ETH jumped another 3.5% today, touching $3,900 and adding to its 59% surge over the past month,' said Shivam Thakral, CEO of BuyUcoin. 'Big money is pouring into Ethereum, with ETF inflows topping $2.2 billion last week—actually outpacing Bitcoin's numbers.'The bullish trend in Ethereum, backed by growing institutional interest, is prompting some market watchers to call this period an "Ethereum season" – a trend that has historically triggered rallies in other altcoins as altcoins also traded higher on Monday. BNB gained 6.7%, Avalanche 5%, Solana 3.3%, Dogecoin 2.6%, XRP 2.4%, Cardano 2%, and Chainlink 2.7%.Despite its recent rally, Bitcoin remains just shy of breaking above the $120,000 resistance level. 'Bitcoin continues to hover just shy of the $120,000 mark, catching its breath after bouncing back from its latest pullback,' Thakral said. Key support levels are currently at $116,411 and $115,000, while the next major resistance stands around $138, to Piyush Walke, Derivatives Research Analyst at Delta Exchange, 'Bitcoin has traded between $118,000 and $120,000 over the past two days. Momentum indicators like MACD and ADX are still positive, but overbought signals from Stochastic and Williams %R hint at potential short-term consolidation.'Sathvik Vishwanath, Co-Founder and CEO of Unocoin, noted that institutional inflows via ETFs remain a strong bullish driver. 'Bitcoin is consolidating just below $120K, forming a bullish cup-and-handle pattern,' he said. 'But strong overhead supply limits a breakout. If BTC manages to hold this range and volume picks up, a surge toward $130K is likely.'The recent price movement has also been supported by macroeconomic developments. Harish Vatnani, Head of Trade at ZebPay, said Bitcoin's rally above $119,000 coincided with easing geopolitical tensions after the U.S. and China agreed to delay mutual trade tariffs.'Bitcoin is now eyeing a daily close above its 10-day moving average, after rebounding from the $114,500 zone,' Vatnani added. He also pointed out that BTC recently made a new all-time high of $123,218 before pulling back to its current range between $120,500 and $115,500, where it's forming a potential bullish flag pattern. A breakout above $125,000 could lead to another leg up.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Yahoo
5 days ago
- Business
- Yahoo
Sonic deposits drop 15% after ‘worst' airdrop leaves users frustrated and angry
Completing the first phase of its airdrop, Sonic, a layer 1 blockchain, distributed more than 80 million Sonic tokens to its users on July 18. Not everyone is happy. In the aftermath of the drop, users flooded the project with complaints they were deemed ineligible despite earning points and participating in the prescribed tasks. This apparently spurred investors to dump more than $85 million in deposits since the airdrop, according to calculation by DL News. 'The Sonic airdrop has to be the worst I've ever seen. Thousands deposited into pools, dApps, etc. for months just for this crap,' said Poyo, a pseudonymous Avalanche ambassador on X. Point systems Airdrop farming, the practice of reaping free tokens, became popular after protocols started adopting points systems. Protocols distribute points to users for completing various tasks and using the platform to garner windfalls from future airdrops. Deposits surged as blockchains such as Manta and Blast adopted the model. After these point programmes end, users tend to exit fast. That's especially the case when users are disappointed with the results. With community sentiment around Sonic's season one airdrop being overwhelmingly negative, the project may experience a similar exodus from the blockchain. Even though more airdrop seasons are planned in the future, the disappointment of season one's airdrop may dissuade users from interacting with the Sonic blockchain. 'Got $0 of Sonic for months of using their protocols and a decent amount of points too. Guess where this chain is heading?' commented a user under Sonic's airdrop announcement on X. 'Ask Scroll, Stark, ZkSync, Taiko, Blast, etc if you have any questions.' Fantom origins Sonic, originally called Fantom, launched its blockchain in 2019. Fantom became a hub for innovative DeFi protocols, reaching over $7.5 billion in deposits in 2022. As crypto fell in a bear market, deposits dropped more than 85% within three months of hitting its peak. Fantom failed to gain much traction in 2024 as deposits hovered at $100 million. To revitalise the ecosystem, the team changed the project's name to Sonic Labs and announced the upcoming launch of the Sonic blockchain along with a future airdrop of 190.5 million tokens in multiple 'seasons.' Throughout 2024 and 2025, the team released more details on the criteria for earning the airdrop. Sonic deployed multiple campaigns and utilised various point systems to attract users, helping bring its deposits to over $1.1 billion in May 2025. The first campaign was called the Sonic Arcade, in which users could interact with the Sonic testnet for free and play mini games to accumulate airdrop points. Later in 2024, Sonic partnered with Galxe to launch an NFT programme where users collect 'Sonic Shards' by completing various tasks on the Fantom network. The team said that users who collected all six shards could eventually mint a new NFT that contained points. Sonic mainnet launched in December, and the team released more details about the points system and the future airdrop. Users can earn both points and gems that will eventually convert into Sonic tokens. Points are earned by holding whitelisted assets or depositing them into DeFi protocols. A fixed amount of gems are distributed to various applications based on performance metrics, which are independently responsible for distributing them to their users. These gems can eventually be redeemed for Sonic tokens. NFT role In total, 190.5 million Sonic tokens will be distributed in multiple seasons. The recently executed season one distributed about 80 million tokens to users. But only 25% is claimable immediately and the remainder will vest over 270 days as an NFT. Users can choose to claim the tokens from the NFT earlier than the vesting time, but a percentage of that will be burned depending on how long the user held the NFT. Sonic was already trending lower in deposits after hitting its peak in May, dropping 49% to about $580 million on July 18. After the airdrop announcement, deposits dropped another $85 million. Users said they received nothing from participating in the arcade or from collecting the shard NFTs. The airdrop document also states that activity on Fantom would be counted towards the Sonic airdrop, but many users said that this wasn't the case. Zero allocation Agent Chud, a pseudonymous crypto influencer who participated heavily in Fantom, stated on X that he received zero allocation despite him holding whitelisted assets, shard NFTs, and interacting extensively with multiple protocols on both Fantom and Sonic. Multiple users claimed to have earned 'millions of points' but received no tokens as a result. The Sonic team did not formally address any of these concerns or give transparency into the distribution of tokens, leaving many in the community upset and confused about why they didn't receive an airdrop. Instead, the team carried on as usual and announced season two of the airdrop campaign. Since the conclusion of season one, the Sonic token has dropped 17%. Zachary Rampone is a DeFi correspondent at DL News. Have a tip? Contact him at zrampone@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Public Shell Firms Ramping Up Altcoin Buys Draws Skepticism: FT
A number of public companies may be about to build hoards of altcoins in an attempt to pump their share prices. Such companies are attempting to replicate the model mastered by Michael Saylor's Strategy (MSTR) which has now accumulated 2.9% of all the bitcoin (BTC) that will ever exist. Since it embarked on its BTC treasury strategy in 2020, MSTR share price has increased by over 3,000%. The bitcoin treasury strategy has been copied by a string of different companies and in recent months there has been several doing something similar with ether. However, the possibility of this model being used with other altcoins (a general term for any cryptocurrency that isn't bitcoin) has been met with skepticism by some commentators, the Financial Times reported on Friday. Blockchain platform Avalanche is exploring the possibility of selling a batch of its AVAX token to a publicly-listed shell company, which it would then use to earn yield and attract an investor base, according to the report, citing people familiar with the matter. Canadian investment group RSV Capital is looking to raise $200 million of equity using a shell company that will be deployed to buy TON, the FT's reported. This method does appear to have brought some short-term gains where it has been tried. Charlie Lee, co-founder of litecoin, invested $100 million into MEI Pharma (MEIP) for the company to buy LTC on July 18. MEIP shares jumped 17% following the announcement before falling back and are around 4.9% higher in the last week, as of writing. However, such a business plan will not yield any long-term benefits, according to Eric Benoist, tech and data research specialist at Natixis CIB, who described it as "hugely speculative." "That's not going to save them for a very long time," he said. "At the end of the day they'll be worth whatever [crypto] they have on the balance sheet and that's it." Geoff Kendrick, Standard Chartered's global head of digital assets, described a move into smaller altcoin treasuries as a "a flash in the pan." He added that if the prices of the token collapsed, the companies would "have pain in either equity holder or bondholders."
Business Insider
7 days ago
- Business
- Business Insider
Youmio Selects Avalanche to Launch the First Layer 1 Chain for AI Agents
Youmio is a Layer 1 blockchain built to be the world's leading agent chain, supporting intelligent software agents as core network participants. The chain introduces foundational infrastructure for autonomous agents to operate across apps, games and digital environments. "Agents are the interface layer of AI, but without public infrastructure they'll be owned, tracked and unverifiable,' said Michael O'Connor, co-founder and CEO of Youmio. 'As we outsource decisions to them, we need agents we can trust. Youmio provides open infrastructure where agents act transparently, with identity, memory and provenance onchain, and privacy controls in the hands of users." Unlike general purpose L1s, Youmio is structured around agent behavior: each agent has a wallet, modular skills and an evolving metadata state. Outputs can be optionally minted as cryptographic proofs. Avalanche's infrastructure offers the speed, low latency and consensus finality needed for real time agent coordination. With over 6 million funded wallets and 3 million monthly active users, it provides a strong foundation for deploying agent-native systems at scale. 'Youmio is thinking clearly about what agents actually need at the protocol level, enabling massive tokenization of AI agents on Avalanche,' said Luigi DeMeo of Ava Labs. 'Instead of fitting agents into an old model, they're creating the purpose-built foundation from the start.' The first application on the chain is Youmio's launchpad for creating intelligent, 3D AI characters known as Mios. Each Mio is multi-agentic by design, able to evolve over time, develop personality through interaction and move fluidly across games, apps and digital environments. The launchpad also introduces a new agent-token model: a single token can now represent an ecosystem of linked agents with rewards tied to usage, behavior or creator-defined rules. To accelerate the ecosystem, O'Connor has joined the investment committee of InfraBUIDL(AI), a $15 million initiative from the Avalanche Foundation supporting AI projects. 'We're investing in builders who are ready to push the limits of what agents can do and help shape the leading agent chain in the process,' said O'Connor. Youmio will work closely with the Avalanche Foundation to fund and empower external creators, offering capital, infrastructure and distribution across a growing network of agent-driven applications. About Youmio Youmio is a blockchain ecosystem for creating, distributing and verifying AI agents. As the first purpose-built agent chain, it offers creative tools, modular infrastructure and integrated distribution to power verifiable agents. By enabling agent provenance and authorship to be anchored onchain, Youmio supports transparent systems that address core risks around trust, security and privacy in AI. Through Youmio's launchpad, anyone can create 3D AI characters that are personal, expressive and alive. These multi-agentic characters reason, act and evolve through interaction. They move fluidly across the web, apps, games and social platforms, carrying memory and context wherever they go. About Avalanche Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. The network's architecture allows for the creation of sovereign, efficient and fully interoperable public and private layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching an L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future. Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps). With its combination of speed, flexibility, and scalability, Avalanche is the platform of choice for innovators pushing the boundaries of blockchain technology. The Avalanche Foundation is a non-profit entity that fosters the advancement and growth of the Avalanche platform for the world. The Foundation offers development programs for developers, entrepreneurs, and users to help the advancement of the Avalanche ecosystem.
