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SEC Chair Paul Atkins Marks Swift Departure From Gary Gensler-Rulemaking
Newly confirmed United States Securities and Exchange Commission (SEC) Chair Paul Atkins laid out what his tenure at the federal regulator will look like on Friday while giving opening remarks at the agency’s third-ever crypto roundtable. Atkins Gives First Crypto Roundtable Remarks As SEC Chair In his April 25 remarks, Atkins reaffirmed his vision to drive forward balanced rulemaking regarding the digital asset industry while taking a swipe at former SEC head Gary Gensler’s regulation-by-enforcement approach to the sector at the agency’s D.C. headquarters. “Market participants engaging with this technology deserve clear regulatory rules of the road,” Atkins said. “Innovation has been stifled for the last several years due to market and regulatory uncertainty that unfortunately the SEC has fostered.” Chairman Paul Atkins' remarks at the Crypto Task Force Roundtable today: https://t.co/qdz19Hdgyl pic.twitter.com/eJgwXNkJko — U.S. Securities and Exchange Commission (@SECGov) April 25, 2025 “I look forward to engaging with market participants and working with colleagues in President Trump’s Administration and Congress to establish a rational, fit-for-purpose regulatory framework for crypto assets,” he added. Paul Atkins Praises SEC Commissioner Hester Peirce Atkins’ comments came just days after he was sworn in to lead the SEC in a White House ceremony, where he vowed to apply a “rational, coherent, and principled” approach to the cryptocurrencies at large. Atkins is widely seen as a pro-crypto choice to spearhead the U.S. regulatory environment , with reports indicating that the one-time SEC commissioner owns up to $6 million in digital assets himself. Friday, however, marked the first roundtable by the SEC’s Crypto Task Force to feature Atkins as a panelist and the public alike discussed custody rules and regulations. Launched in January, the agency’s Crypto Task Force seeks to generate a “comprehensive and clear regulatory framework for crypto” by collaborating with the public “to set the SEC on a sensible regulatory path.” During his remarks on Friday, Atkins shouted out SEC Commissioner and Crypto Task Force leader Hester Peirce for her “tireless advocacy” for common-sense crypto policy in the U.S. “Commissioner Peirce is the right person to lead the effort to come up with a rational regulatory framework for crypto asset markets,” he said. The post SEC Chair Paul Atkins Marks Swift Departure From Gary Gensler-Rulemaking appeared first on Cryptonews .

2025-04-26 01:25
XRP Price Prediction: How High Will This ‘Elliott Wave’ Impulse Push XRP?
XRP (XRP) has gone up by 6.2% in the past week as market sentiment has improved significantly in a relatively short period and has managed to propel the price of the token to $2.3 for the first time in roughly a month. The Fear and Greed Index recovered from a record low of 15 it booked a couple of weeks ago to 52 as of this morning, meaning that market participants are now less concerned about the state of the market. This supports a bullish outlook for crypto assets including XRP and it has translated into multiple bullish breakouts above key moving averages. Just a few days ago, Ripple announced that investors and traders will now be able to borrow Ripple USD (RLUSD) – the project’s new stablecoin – through the well-known AAVE protocol. This is another important step from the blockchain company to fuel the adoption of its stablecoin to achieve its mission of becoming the leading decentralized payments platform. Data from CoinMarketCap indicates that RLUSD’s market cap has expanded from around $60 million in early March to nearly $300 million at the time of writing, resulting in a 400% increase in just two months. Higher demand for RLUSD means higher transaction volumes within the Ripple network and higher demand for XRP – the blockchain utility token. Meanwhile, the price action for XRP recently showed that its latest Elliott Wave has now been completed. XRP Could Keep Rallying to $2.5 in This Scenario The hourly chart shows that the price has entered a stage of consolidation as it waits for further liquidity to trigger the next move. A couple of scenarios emerge by using the latest Elliott Wave levels as a reference to identify key resistance and support areas to watch. The bullish scenario would see the price breaking above the 5 wave, which sits at $2.2350 and triggering the beginning of a new Elliott wave that could propel XRP to $2.5 in the near term. A brief pullback toward the $2.23 level would be expected following this bullish breakout. As long as that support holds, this bullish scenario would be intact. After the first breakout, the price could retrace to the $2.3 resistance (now support) and then make its move to the $2.4 – $2.5 level as the first plausible target. Meanwhile, a bearish scenario would see XRP dropping below the $2.12 support and dropping to around $2.03 – $2.06 in the near term. The market structure is bullish at the moment as the price action is on an uptrend. Hence, the bullish scenario has the higher odds of both. Momentum indicators have cooled in recent hours as the market enters a consolidation phase, with the upcoming U.S. session likely to inject the liquidity needed for a breakout — in either direction. While traders await the next major move, top crypto presales like SUBBD are gaining steam, attracting fresh capital as overall sentiment shows signs of recovery. SUBBD Raises More than $250K to Launch a Decentralized Content Distribution Platform SUBBD (SUBBD) is positioning itself as a disruptive alternative to platforms like OnlyFans — offering creators more control, better earnings, and full ownership of their content through blockchain-based distribution. The SUBBD token offers fans a way to access VIP content, early access to extra features, and discounts on subscriptions, among other perks. For creators, it allows them to vote on key governance decisions about the platform and access tools that help them monetize their AI-generated content. The platform has already been embraced by thousands of influencers with a combined fan base of 250 million followers. As SUBBD’s adoption accelerates, the demand for its utility token will too. At its discounted price of $0.05525, analysts coincide that its upside potential is huge as demand should skyrocket as the protocol becomes more and more popular among creators and fans. To buy SUBBD, simply head to the SUBBD website and connect your wallet (e.g. Best Wallet ). You can either swap USDT or ETH for this token or use a bank card to make your investment. The post XRP Price Prediction: How High Will This ‘Elliott Wave’ Impulse Push XRP? appeared first on Cryptonews .

2025-04-26 00:27
Nasdaq Presses SEC for Four-Tier Crypto Rulebook, Demands Regulatory Clarity
The American stock exchange, Nasdaq, has urged the U.S. Securities and Exchange Commission (SEC) to develop a clear and consistent classification framework for crypto assets, emphasizing the need for regulatory clarity as digital assets continue to develop. In a 23-page letter addressed to the SEC’s Cryptocurrency Task Force, Nasdaq called for a structured taxonomy to help define which agency should regulate specific types of crypto assets. Nasdaq Pushes for Four-Tier Crypto Classification in Letter to SEC The exchange operator proposed categorizing digital assets into four distinct categories: financial securities, digital asset investment contracts, digital asset commodities, and other digital assets that fall outside existing definitions. Nasdaq sent a detailed letter to the SEC outlining a plan to split digital assets into four clear groups: securities, digital asset investment contracts, commodities, and everything else. I think having a clear guide now could really help shape smarter rules down the line. — Ian Balina (@DiaryofaMadeMan) April 25, 2025 Nasdaq asserted that this framework would help delineate regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC), depending on the nature of the asset. “While a stock by any other word would still be a stock, the existing market ecosystem can readily absorb digital assets by establishing the proper taxonomy and calibrating certain rules to reflect what is truly new and novel about digital assets,” the letter stated. According to Nasdaq, digital assets that qualify as financial securities, such as tokens tied to stocks, bonds, or ETFs, should be treated the same as their underlying assets and regulated by the SEC. Investment contracts that meet the criteria under a clarified version of the Howey test would also fall under the SEC’s jurisdiction. However, commodities would be regulated by the CFTC, while digital assets that don’t fit these classifications would be exempt from securities or commodities rules. The letter, signed by John Zecca , Nasdaq’s Chief Regulatory Officer, emphasized the importance of respecting the existing financial system while adapting it to accommodate digital assets. “Digital assets that constitute financial securities must trade as they do today,” Zecca wrote. Nasdaq also suggested that regulators create a new crossover designation for trading platforms that handle multiple types of digital assets under a single roof. The company noted that its global infrastructure already supports digital asset platforms across six continents, including trading, surveillance, and clearing services. Additionally, Nasdaq advised that regulators consider enhanced oversight or constraints for vertically integrated crypto firms that manage all aspects of investor activity, from issuance to trading and custody. The letter was submitted in response to SEC Commissioner Hester Peirce’s call for industry input on future crypto regulation. SEC Indicates Shift Toward Clearer Crypto Rules Under New Leadership As Nasdaq calls for well-defined crypto asset classifications, momentum is building in Washington for a broader regulatory reset. SEC Commissioner Mark Uyeda recently outlined a shift from the agency’s prior enforcement-first approach , intending to take a more open and collaborative regulatory tone under the Trump administration. In a CNBC interview during the World Bank and IMF Spring Meetings, Uyeda revealed that the SEC has launched a new crypto task force focused on crafting clear, cost-effective rules for digital assets, an effort he says seeks to reverse the chilling effect past enforcement actions have had on innovation. SEC Commissioner Mark Uyeda joins us from the World Bank in D.C. to discuss the @SECGov 's shifting stance on regulation, crypto and much more as the new Chair is sworn in. https://t.co/KFTsdeI6ZE — Money Movers (@moneymoverscnbc) April 23, 2025 Uyeda acknowledged that years of aggressive legal actions pushed many crypto firms offshore. The agency is now engaging with the White House and Treasury through joint task forces on crypto and AI, and hosting public roundtables to gather industry feedback. The first session addressed the core question of how to apply the Howey Test to digital assets, a decades-old standard still fueling legal uncertainty. Meanwhile, newly sworn-in SEC Chairman Paul Atkins affirmed his intent to make digital asset regulation a top priority, pledging a “principled” approach to ensure the U.S. remains a global hub for crypto innovation. The post Nasdaq Presses SEC for Four-Tier Crypto Rulebook, Demands Regulatory Clarity appeared first on Cryptonews .

2025-04-25 23:59
Michael Saylor Hails Fed U-Turn: US Banks Cleared to Back Bitcoin on $95K Rally
Strategy founder Michael Saylor says that banks are free to support Bitcoin following the U.S. Federal Reserve’s cancellation of its previous crypto guidelines, according to a Thursday night X post from the crypto proponent. Saylor Shares His Take “Banks are now free to begin supporting Bitcoin,” Saylor said in an X post regarding the Federal Reserve’s announcement. Banks are now free to begin supporting Bitcoin. https://t.co/mw7KjqJbQr — Michael Saylor (@saylor) April 24, 2025 The Fed’s previous guidance toward digital assets largely advised banks under its oversight to notify the organization before they engaged in activities involving cryptocurrencies at large due to heightened volatility and risk. “The emerging crypto-asset sector presents potential opportunities to banking organizations, their customers, and the overall financial system; however, crypto-asset-related activities may pose risks related to safety and soundness, consumer protection, and financial stability,” a 2022 letter from the federal bank reads . However, the nation’s federal banking system has changed its tune on the emerging fintech sector. “The Board will work with the agencies to consider whether additional guidance to support innovation, including crypto-asset activities, is appropriate,” it said in an April 24 statement . The U.S. Embraces A Changing Crypto Regulatory Environment Saylor’s support of the Fed’s reversal of its crypto guidelines comes as Bitcoin continues to rally, climbing over $95,500 on Friday afternoon. Current U.S. President Donald Trump widely campaigned for crypto-friendly regulations, with Bitcoin experiencing a post-election rally that saw the cryptocurrency soar over $109,000. Just this week, Trump’s pick to lead the United States Securities and Exchange Commission (SEC), Paul Atkins, was sworn in as head of the federal regulator . Michael Saylor, who led Strategy’s initial Bitcoin back in 2020, praised the choice in a recent X post. “SEC Chairman Paul Atkins will be good for Bitcoin,” Saylor said. The end of the Fed’s crypto guidelines and Bitcoin’s coinciding boom may prime traditional finance investors to explore the digital asset industry as a whole. The post Michael Saylor Hails Fed U-Turn: US Banks Cleared to Back Bitcoin on $95K Rally appeared first on Cryptonews .

2025-04-25 23:52
Meme Coin Market Tops $60B as BONK Rockets 36% amid Cat Token Surge
The meme coin market is experiencing a new wave of bullish energy, pushing the total sector market cap to about $60.3 billion, a 4.2% increase in the past 24 hours, according to CoinGecko . Just days ago, the market already witnessed a jaw-dropping 25% surge to $56 billion, driven by intensified trading activity and a surge in speculative interest. Today, that momentum shows no signs of slowing, with trading volumes surging past $10.7 billion in a 24-hour period. Source: CoinGecko Central to this frenzy is BONK , the Solana-based meme coin that’s gaining traction. BONK’s price surged over 35.5% this past week, bringing its market cap to $1.25 billion and earning it the 78th spot on the global crypto rankings. In the past 24 hours alone, BONK has recorded $232 million in trading volume, driven by a breakout from a broadening wedge pattern on the daily chart, which is a technical signal often interpreted as a bullish continuation pattern. Source: Cryptonews As a technical analyst pointed out on X, BONK breaking the upper border of the wedge, coupled with its push toward the 100-day moving average, signals continued upward momentum. #BONK Token is breaking out of the upper border of the broadening wedge pattern on daily timeframe This breakout signals strong bullish momentum after period of volatility and could drive price higher If we break above the ma 100, expect price to move towards targets at… pic.twitter.com/z1wURtnzFO — Rose Premium Signals (@VipRoseTr) April 25, 2025 If price action maintains this trajectory, targets at $0.00001950, $0.0000250, and even $0.0000370 are being floated by bullish traders. But BONK’s rally isn’t just technical. Its expanding ecosystem and growing holder base now exceeds 919,000 wallets. $bonk holders growth pic.twitter.com/DXTi1EeCRt — jim (@jimmyhumania_) April 25, 2025 The Power of Community and Ecosystem Expansion Much of BONK’s success lies in its cohesive and energetic community, along with a growing ecosystem of tools and dApps that loop value back into the token. Projects like BONKbot and BonkEarn are utilizing fee revenue to purchase and burn BONK, thereby tightening the supply and increasing long-term value. Additionally, BONKSol and BONKRewards reward long-term holders who choose to stake their tokens or contribute their time and expertise. Strategic brand partnerships have elevated BONK’s mainstream visibility through collaborative efforts with organizations such as BVB, Baseball United, Karate Combat, and Crypto Fight Week. Over the past couple years since @bonk_inu was created, there's been numerous projects focused on the $BONK holders. There's one pretty simple message between them all. Drive focus to products, drive Revenue to buy and burn $BONK READ as a community campaign focuses on a few… https://t.co/de6Ff77iUe — Nom (@TheOnlyNom) April 24, 2025 Initiatives like BONKRadio and BONKForPaws have also added a philanthropic and social layer to their brand. Supporting this community growth are decentralized entities, such as the Bonk DAO and builders from Phase Labs, who contribute through the Align protocol and BonkAdvisory. These decentralized actors, in partnership with organizations like Colosseum, are sowing the seeds for the next generation of BONK-powered products. The Dog has spotted a New Community Driven Mission It's called: R.E.A.D.: https://t.co/Guum8bEjPe Learn more pic.twitter.com/7NUTmX9sWh — BONK!!! (@bonk_inu) April 24, 2025 Platforms like LiveBonk, Dragontaillucky, Moonwalkfitness, and Bonkmirror are also channeling new user activity and revenue back into BONK’s ecosystem. Meme Market Mania: Solana and Cat Coins in the Spotlight While BONK is leading the headlines, it’s part of a broader resurgence across the memecoin market. Solana meme coins are collectively up 8.1%, making them one of the fastest-growing segments within the niche. Dog-themed tokens still dominate the market with a $40.1 billion market cap, followed by Elon Musk-inspired coins at $27.5 billion. Frog-themed, Cat-themed, and AI-powered meme tokens are also seeing steady gains. Source: CoinGecko Interestingly, cat-themed coins are outperforming the sector, with a 10.1% daily increase, hinting at a shifting investor appetite. Pudgy Penguins , one of today’s top trending tokens, is up nearly 38%, while Official Trump is seeing renewed traction amid political headlines and the upcoming dinner with President Donald Trump . Uni and Mindscraft stole the show in the gainers’ column, up 228.1% and 224.8% respectively. And yet, seasoned voices in the space caution that such parabolic runs often come with a price. A recent video analysis warned that while meme coins like BONK perform exceptionally well in bull runs, they’re equally vulnerable in downturns. Rapid gains can evaporate in a matter of days, calling for proper profit-taking. As the analyst pointed out, meme tokens derive their value primarily from hype, branding, and community. The moment sentiment shifts, the price tends to follow. Still, BONK remains entrenched in the top 100 coins globally, holding its ground despite fierce competition from newer tokens, such as the Trump-themed coin. While the latter has recently taken the SPL crown due to political hype, BONK’s early mover advantage, deeply integrated ecosystem, and loyal user base continue to provide a strong moat. The post Meme Coin Market Tops $60B as BONK Rockets 36% amid Cat Token Surge appeared first on Cryptonews .

2025-04-25 23:12
$TRUMP Debunks $300K Myth—A Modest Holding Is Enough to Dine With Trump
In a statement posted on April 24, the $TRUMP token team clarified that holders do not need to spend $300,000 to qualify for its “Dinner with President Trump” contest. The response and excitement over the competition to have "Dinner with President Trump" is amazing! We want to clarify a few things people seem to be confused by on X and in the Media. -You need $300K+ to participate (You Don't) -That we're unlocking into this competition (We're… — TrumpMeme (@GetTrumpMemes) April 24, 2025 The clarification addresses confusion over a leaderboard entry that some community members misinterpreted as a spending threshold. Trump Meme Team Responds to Community Confusion The team said that entry includes exchange and locked holdings not participating in the contest. Eligibility is determined solely by registered users on the official leaderboard, which ranks time-weighted $TRUMP balances over the course of the competition. “People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating,” the team said. The project emphasized that all participants must register to be counted. As of the announcement, the 220th-ranked participant held just over $400 worth of tokens. The leaderboard is available at trumpdinner.gettrumpmemes.com. Tokens from the cliff unlock and daily distributions will remain locked for an additional 90 days, the team said, extending past the competition period. The team noted future updates would include additional contest features. “The field is wide open and it’s anyone’s opportunity to have Dinner with President Trump,” the post said. ETFs Pair Digital Assets with Political Branding Trump Media and Technology Group is moving deeper into financial services with plans to launch a digital asset ETF suite. According to a press release, the company has partnered with Crypto.com and Yorkville America Digital to roll out a set of exchange-traded funds under the Truth.Fi brand. The funds will combine exposure to cryptocurrencies with equities tied to U.S.-focused sectors like energy. Trump Media said it plans to allocate up to $250 million in company capital toward the initiative. That includes a parallel offering of separately managed accounts, anchored by a theme of digital investment aligned with domestic economic priorities. The use of crypto tokens for campaign-style engagement hints at a broader shift in how digital assets are being deployed—not as payments, but as tools for identity and access. As projects blur the line between finance, fandom, and politics, the role of tokens is evolving. Frequently Asked Questions (FAQs): How does the time-weighted holding mechanism work for the $TRUMP token contest? The contest calculates eligibility based on the average amount of $TRUMP tokens held over a specified period, incentivizing long-term holding rather than short-term accumulation. How might Trump Media’s entry into ETFs affect the broader financial sector? By launching ETFs that combine digital assets with U.S.-centric investments, Trump Media could influence the adoption of politically branded financial products, potentially attracting a specific investor demographic. Are there precedents for political figures engaging in crypto ventures? While some politicians have expressed support for or against cryptos, the direct involvement in launching tokens or financial products tied to political branding is relatively novel and may set new precedents. The post $TRUMP Debunks $300K Myth—A Modest Holding Is Enough to Dine With Trump appeared first on Cryptonews .

2025-04-25 22:46
Arbitrum Jumps 18% on 1.6M Wallet Boom—Breakout Next?
According to CoinMarketCap’s sentiment tracking tool, Arbitrum ($ARB) is currently ranked as the sixth most bullish crypto asset, with more than 90% of users indicating expectations of a continued price uptrend. This optimism appears well-founded. Arbitrum has exploded by over 18% in the past seven days, accompanied by a surge in new user activity. Network User Base Explodes with 1.6M New Wallets Data from Dune Analytics shows that over 1.6 million new wallets were created on the Arbitrum network between March 3 and April 24. The total number of active addresses has now reached 4.6 million. Active wallet addresses surge on Arbitrum L2 network/ source: Dune Analytics Last month alone, the network processed 1.3 billion transactions and created over 4.5 million smart contracts. These milestones likely contributed to Robinhood’s listing of $ARB earlier this year, greatly enhancing access and liquidity for retail investors who may have been reluctant to use decentralized exchanges. Arbitrum ($ARB) is now available to trade on Robinhood. pic.twitter.com/wBIwmtqwXe — Robinhood (@RobinhoodApp) March 5, 2025 In addition, Arbitrum Orbit chains are increasingly being used as a liquidity bridge for USD Coin ($USDC) to access protocols such as Hyperliquid, where users trade perpetual contracts via decentralized vaults. Security Setback: $140K Exploit Reveals $ARB Signature Vulnerability Despite its recent momentum, Arbitrum has also faced its share of challenges. On March 10, blockchain security firm CertiK disclosed a serious exploit on the network. An attacker reportedly exploited a vulnerability in signature verification, resulting in the theft of roughly $140,000 from various smart contracts. More recently, on April 25, Arbitrum’s efforts to join Nvidia’s Ignition AI Accelerator program were reportedly rejected. Arbitrum stated that it was originally planned to be the Ethereum partner in Nvidia's Ignition AI Accelerator program, but was halted by Nvidia at the last moment. Nvidia recently explicitly excluded cryptocurrency-related projects from its Inception program.… https://t.co/NiQztfoJyw — Wu Blockchain (@WuBlockchain) April 25, 2025 Sources suggest the chipmaker’s decision was based on risk mitigation, with some observers linking it to Arbitrum’s ongoing battle to rebuild credibility. Despite robust on-chain metrics, the $ARB token is still down more than 80% from its January 2024 peak. Arbitrum’s ambitions in Web3 gaming are also facing headwinds. On March 24, discussions emerged within the Arbitrum DAO about possibly revoking funds from its Gaming Catalyst Program (GCP) due to concerns over a lack of progress and transparency. The GCP had allocated 225 million $ARB tokens (then valued at $468 million) to drive gaming innovation. However, following a recent token unlock and broader market decline, that allocation has plummeted to around $77 million. Technical Analysis: Ascending Channel Signals Bullish Continuation Toward $0.378 At press time, the $ARB/$USDT pair is priced near $0.3463. It is testing the upper boundary of the ascending channel for the third time, statistically increasing the probability of a breakout. $ARB testing resistance levels to trigger breakout/ Source: TradingView The 20-period simple moving average (SMA) is positioned above the 50 SMA, which is, in turn, above both the 100 and 200 SMAs, indicating a clear bullish trend. Volume has also increased, with recent candles reflecting rising buying interest. Should the breakout materialize, the next major resistance zone lies between $0.378 and $0.380, which is historically a supply-heavy area. A successful close above this level could indicate a continuation of the rally. $AREB Alerted again, the same levels are in play as yesterday as it still hasn't broke that 4.785 major resistance level. This can move very quickly if that level is broke with high volume. Needs to break: 4.785 6.3 7.9 https://t.co/0FV8lJbkXU pic.twitter.com/coLQQIm869 — Market Maestro (@Market_Maestros) April 25, 2025 However, if the price is rejected at resistance, a pullback toward the $0.317–$0.320 region, aligned with the 50 SMA, is likely. In a deeper correction, $ARB may find stronger support between $0.300 and $0.310, where the 100 and 200 SMAs converge with the channel’s lower trendline. The post Arbitrum Jumps 18% on 1.6M Wallet Boom—Breakout Next? appeared first on Cryptonews .

2025-04-25 22:08
OpenSea Grabs 42% of NFT Market After 0.5% Fee Cut as Rivals Lag
A recent report revealed that OpenSea has maintained the top position in non-fungible token (NFT) marketplace trading volume over the past 30 days. Transaction volumes spiked as traders flocked to OpenSea’s revamped platform, drawn by lower fees and cross-chain support. Can Wallet Growth Reignite NFT Mania? According to data from NFT Scan, the total trading volume in the past 30 days reached $155.1 million. OpenSea’s dominance is clear when compared to its competitors in terms of market share. Blur, one of the biggest rivals, commands 23.16% of the market, while established names like CryptoPunks and Magic Eden hold 10.97% and 7.67%, respectively. OpenSea NFT Market holds 41.91% distribution of trading activity | Source: NFT Scan Other platforms, such as OKX NFTs, CoralCube, and smaller players, share 4.98%, 5.21%, and 6.10% of the market, respectively. OpenSea’s lead goes beyond trading volume. It also attracts the most users. Last month, 615,300 wallets traded NFTs, and 69.62% (428,363 wallets) used OpenSea. In contrast, rivals like Magic Eden and Blur drew only 7.24% and 5.14% of users. The gap widens over time. Across three months, OpenSea secured 66.12% of all wallet engagements (1.424 million out of 2.2 million). Magic Eden, the closest competitor, held just 8.77% (188,954 wallets). These figures reflect OpenSea’s ability to maintain a strong user base despite competition from other NFT platforms. OpenSea’s OS2 Upgrade and 0.5% Fees Leave Rivals Struggling The revamped OS2 platform, launched in February, slashed marketplace fees from 2.5% to 0.5%, eliminating swap fees. OS2 open beta is now live: • A fully reimagined product built entirely from the ground up, for collectors and pros • NFTs tokens, brought together in one place • Brand new, beautiful ways to explore — beyond just the floor • 14 chains (welcome @flow_blockchain , ApeChain… pic.twitter.com/fTJT5eKsm2 — OpenSea (@opensea) February 13, 2025 It also featured integrated support for Solana token trading , cross-chain purchasing, and real-time analytics, further differentiating the platform from competitors like Blur and Magic Eden, which haven’t matched these upgrades. Features like a homepage redesign and faster browsing also improve the user experience. Another important development is the introduction of the SEA token. The asset is designed to reward loyal users. $SEA is coming. Here are a few things to know: • Historical OpenSea usage, not just recent activity, will be an important ingredient • Claim process will be simple and accessible. US users welcome • We’re focused on long-term sustainability and supporting a healthy, enduring… pic.twitter.com/K8DsLZBROs — OpenSea Foundation (@openseafdn) February 13, 2025 Regulatory clarity has also played a major role. In early February, OpenSea founder Devin Finzer announced that the U.S. Securities and Exchange Commission (SEC) had closed its investigation into the platform without charges. Beyond doubt, the news reduces legal uncertainty and reinforces user trust. As the NFT ecosystem matures, OpenSea’s technical advancements and strategic pivots remain central to its sustained dominance. Why NFT Sales Still Lag Behind 2022 Highs Despite growing wallet activity, NFT sales languish 62% below 2022’s peak. While trader participation continues to increase, structural challenges constrain meaningful recovery. The NFT market experienced modest growth in 2024. CryptoSlam data tracker revealed annual sales of $8.88 billion, a 1.1% increase over 2023’s $8.7 billion. This pales against 2022’s $23.7 billion peak, representing a contraction of 62.8%. By comparison, the 2024 sales figure marks a major drop of 43.9% from 2021 and 62.8% from 2022. Despite some signs of a resurgence in the NFT space, the overall momentum slowed considerably as 2024 progressed. February 2025 saw a sharp decline in trading activity . The total NFT trading volume dropped to $498 million, a 50% decrease from January. In addition, total sales dipped by 16%. NFT market lost 50% trading volume in February | Source: Dappradar However, not all signs were negative. In February, the U.S.-based art collective Kanbas Collection made a major purchase, acquiring a 1-of-1 digital artwork for $3 million . This sale hinted that the NFT market might be maturing into a more sustainable model compared to the speculative frenzy of previous years. Even so, NFT trading activity continued to show signs of decline. CryptoSlam data reveals that in the first quarter (Q1) of 2025, NFT sales volume fell to $1.5 billion. This represents a 61% drop from the same period in 2024, which recorded $4.1 billion. Despite these setbacks, there are signs that interest in NFTs remains alive. Over the past week, the number of NFT buyers rose by 52%, with over 359,000 new buyers entering the market. While gradual progress continues, a return to 2022’s exuberant valuations appears unlikely in the current market cycle. Frequently Asked Questions (FAQs) Is OpenSea Moving Beyond Collectible NFTs? OpenSea actively embraces emerging trends by supporting NFTs tied to real-world assets such as LeBron RWA. The platform also lists AI-generated art and NFTs from blockchain-based games, including in-game items, virtual land, and collectibles. What Blockchains were included in OpenSea’s Latest Upgrade? OpenSea has recently integrated support for 14 blockchains, including new additions like Flow, ApeChain, and Soneum. The post OpenSea Grabs 42% of NFT Market After 0.5% Fee Cut as Rivals Lag appeared first on Cryptonews .

2025-04-25 20:57
Is Circle Becoming a Bank? CSO Slams Rumors, Demands Stablecoin Law
Key Takeaways: Circle expects to comply with future U.S. regulations on stablecoins, which may involve obtaining a trust charter or another type of nonbank license. Regulatory uncertainty in the U.S. contrasts with more defined frameworks in other jurisdictions, adding pressure for lawmakers to act. Circle has denied reports that it plans to become a bank. The company’s Chief Strategy Officer, Dante Disparte, clarified in a statement posted on April 24 that it does not intend to seek status as an insured depository institution. @circle does not intend to become a bank or any other kind of an insured depository institution. We do intend to comply with a future U.S. regulatory framework for payment stablecoins, which may require registering for a federal or state trust charter or other nonbank license. We… — Dante Disparte (@ddisparte) April 25, 2025 According to Dante, the company said it will comply with expected legislation on payment stablecoins, which may require holding a federal or state trust charter or another form of nonbank license. Circle Clarifies Stance Amid Speculation on Bank Licensing “We do intend to comply with a future U.S. regulatory framework for payment stablecoins, which may require registering for a federal or state trust charter or other nonbank license,” said Dante. “We urge Congress to pass bipartisan payment stablecoin legislation now to champion American innovation, stability, and consumer safety,” he added. A report on April 21 placed Circle among several crypto firms said to be exploring bank charters, citing unnamed sources familiar with the matter. Alongside BitGo, companies such as Paxos and Coinbase were described as considering various forms of licensure—including trust charters and industrial bank models—to bring their stablecoin and custody businesses under formal regulatory oversight. The article linked these discussions to potential legislation moving through Congress that would require stablecoin issuers to hold either a federal or state charter. That framework, backed by members of both parties, is designed to bring oversight to the growing market for dollar-backed tokens used in digital payments and settlement. Stablecoin Rules in the U.S. Still Undefined Circle, which issues the USDC stablecoin , has been central to policy debates around digital dollar assets. As one of the two largest stablecoin issuers globally, the company is often referenced in regulatory contexts—even when it has not made formal moves in line with the speculation. The U.S. still lacks a unified legal framework for stablecoins, leaving oversight split across agencies. While Congress debates new rules, firms like Circle are navigating patchwork requirements that mirror banking without the benefits or obligations of becoming a bank. Other markets have moved faster. Europe’s MiCA and Japan’s stablecoin laws provide clearer paths for issuers. Without similar clarity in the U.S., regulatory ambiguity continues to shape how—and where—stablecoin companies operate. The post Is Circle Becoming a Bank? CSO Slams Rumors, Demands Stablecoin Law appeared first on Cryptonews .

2025-04-25 20:19

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