11 Aug 2025, 19:17

Sui Price Falls 4% as Heavy Selling Pressure and Long Liquidations Hit Market

Sui’s ( SUI ) price plunged 4% over the past 24 hours after experiencing substantial market volatility overnight, CoinDesk Analytics data shows. The token’s price fluctuated $0.28, or approximately 7%, between session highs of $3.98 and lows of $3.69. The digital asset initially demonstrated strength, advancing from $3.88 to $3.98 with institutional volume exceeding 18 million units, before encountering significant resistance at the $3.97 to $3.98 level where corporate selling pressure intensified. Trading volume then saw a dramatic reversal, characterized by exceptional trading volume of 35.3 million units, establishing a critical support threshold near $3.71 to $3.72 where institutional buyers attempted to defend valuations. The session concluded at $3.69, representing a 5% decline from opening levels, suggesting continued bearish sentiment among corporate investors despite established support mechanisms. SUI’s derivatives market also saw a wave of long positions unwind, with open interest falling 15% to $1.79 billion, according to CoinMarketCap. Funding rates — which influence the cost of holding leveraged long positions — dropped to 0.0083%, down sharply from their July peak of 0.075%. The decline in rates reduced the incentive for traders to maintain bullish leveraged bets, signaling a cooling in market sentiment. SUI is underperforming the broader crypto market as measured by the CoinDesk 20 Index , which is flat over the past 24 hours. Despite a rough past 24 hours, the token is still up about 5% over the past seven days and 9% over the past month as several positive developments caught investor’s eyes last week. Swiss digital asset bank Sygnum expanded its offerings to include custody, trading and lending products tied to the blockchain for its institutional clients on Friday. Earlier that week, another Swiss institution, Amina Bank, said it had started offering both trading and custodial services for SUI. SUI’s month-long rally may be prompting some investors to lock in gains, adding to selling pressure in the market. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy .

11 Aug 2025, 19:16

Bullish, backed by Peter Thiel, raised its IPO size to $990 million

Bullish, the crypto exchange backed by billionaire Peter Thiel, has boosted the size of its planned initial public offering and raised its pricing ambitions, according to a filing with the Securities and Exchange Commission on Monday. The company now aims to raise $990 million by selling 30 million shares priced between $32 and $33 each, giving it a targeted valuation of about $4.8 billion. This is a sharp step up from last week’s plan to sell 20.3 million shares at $28 to $31 apiece for a $4.2 billion valuation. Chief executive Tom Farley, who previously served as president of the New York Stock Exchange, is leading the push to bring Bullish to Wall Street. The company has given its underwriters (JPMorgan, Jefferies, and Citigroup) a 30-day option to sell another 4.5 million shares if demand is strong. Bullish stock will trade on the NYSE under the ticker BLSH once the deal closes. Interest from large investors is already on the table, with BlackRock and Cathie Wood’s ARK Investment Management indicating they could purchase up to $200 million worth of the offering. Bullish joins busy crypto IPO pipeline amid rising market activity Bullish, which also owns crypto news platform CoinDesk, is part of a fresh wave of crypto companies entering the public market. The recent run in valuations and trading activity has been helped by stronger investor sentiment and clearer regulatory backing from Washington. In June, stablecoin issuer Circle completed its IPO . In May, Mike Novogratz’s Galaxy Digital shifted its listing to the Nasdaq, and trading app eToro also began trading publicly. The list of pending entries is growing. Crypto custody firm BitGo has confidentially filed for a U.S. listing, and Gemini, run by Tyler and Cameron Winklevoss, is preparing for one as well. The momentum for these listings is building alongside a rally in cryptocurrencies. Bitcoin is now close to its all-time high after an overnight move higher, trading at $119,782, up 1%, while Ether is at $4,181, down 1.6% after hitting its highest level since December 2021 on Sunday. On Friday, Ether crossed $4,000 for the first time since that month. The rally has spilled into equities. U.S. stock futures rose earlier as investors waited for new inflation numbers, with the broader market sitting near record levels. Shares of Coinbase climbed more than 5%, Circle gained 3%, and Galaxy Digital added 8%. Strategy, a listed proxy for bitcoin, rose more than 4%. Mining companies Mara Holdings, Riot Platforms, and Iren each advanced more than 3%. Debt growth, Asian buying, and Ether-linked gains drive momentum Some traders had expected a slowdown in August, a month that’s typically weak for crypto, after the hot run in the second quarter. Instead, the market has stayed active, with much of the buying coming during Asia’s trading hours. Markus Thielen, CEO of 10x Research, linked the move to the rapid expansion of U.S. debt. He pointed to President Donald Trump’s early July signing of the Big Beautiful Bill, which included a $5 trillion debt ceiling increase, as the key moment that pushed bitcoin out of its trading range. “Bitcoin’s breakout isn’t random, it’s being fueled by the fastest U.S. debt expansion in history and that momentum isn’t slowing down,” Thielen said. He added that the $133,000 level is now the next major test for the market and that both strong and weak economic conditions could keep demand high for bitcoin and gold. Ether-related stocks have also rallied. Bitmine Immersion Technologies jumped 25% on Monday after gaining almost the same on Friday. SharpLink Gaming rose 11%. Data from SoSoValue shows Ether exchange-traded funds brought in $326.83 million in inflows last week, topping bitcoin ETF inflows of $246.75 million. The crypto market’s gains put it within striking distance of previous records. Bitcoin is about 3% below its July 14 all-time high, while Ether remains 14% below the peak it set in November 2021. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.

11 Aug 2025, 19:13

Chainlink Partners with ICE to Bridge Forex and Metals Data into Onchain Finance

Chainlink Taps ICE’s Market Data for Onchain Finance In a groundbreaking development , blockchain oracle Chainlink has teamed up with Intercontinental Exchange (ICE), a Fortune 500 company behind the New York Stock Exchange. This partnership aims to bring real-time forex and precious metals data into decentralized finance (DeFi), closing the gap between traditional financial markets and blockchain-based solutions. ICE’s Market Data Powers Chainlink’s Blockchain Infrastructure Announced on August 11, the collaboration integrates ICE’s Consolidated Feed, which aggregates data from over 300 global exchanges, into Chainlink’s Data Streams network. This integration will supply institutional-grade forex and metals pricing to decentralized applications (dApps) and blockchain-based services, marking a major leap for the DeFi ecosystem. Maurisa Baumann, Vice President of Global Data Delivery Platforms at ICE, highlighted the significance of the partnership, emphasizing how ICE’s data is trusted by financial institutions around the world. The data provided will enhance the reliability of decentralized markets, making them more attractive to institutional investors. A Milestone for Onchain Finance and Tokenized Asset Markets This partnership addresses one of DeFi’s most critical challenges: the need for accurate, institutional-grade pricing for real-world assets. The integration of ICE’s high-quality forex and precious metals data into Chainlink’s infrastructure could signal a turning point for tokenized assets. As the demand for tokenized real-world assets grows, projections suggest that this market could reach $30.1 trillion by 2034. However, tokenized assets currently trail traditional financial products, with a market size of just $25.75 billion. This disparity reflects the cautious stance of institutions, which require blockchain infrastructure that meets their rigorous standards. Fernando Vazquez, from Chainlink Labs, called the partnership a “watershed moment” that could spur the transition of mainstream assets onto the blockchain.

11 Aug 2025, 19:12

Ethereum’s Surge Stops Short, Altcoin Opportunities Arise

Ethereum's price hints at altcoin potential, nearing $4,300 after tariff extension. LDO Coin rallies on SEC's non-security declaration, supported by Martinez's optimism. Continue Reading: Ethereum’s Surge Stops Short, Altcoin Opportunities Arise The post Ethereum’s Surge Stops Short, Altcoin Opportunities Arise appeared first on COINTURK NEWS .

11 Aug 2025, 19:10

Bitcoin’s 4-Year Cycle on the Chopping Block: Has the Halving Era Finally Ended?

In crypto, theories have a way of spinning up like dust devils, and lately, one in particular has been making the rounds — that bitcoin’s notorious four-year cycle may have run its course. Supporters of the “cycle is dead” camp say the pattern is breaking apart, citing shifts like rising institutional participation, the advent of

11 Aug 2025, 19:09

Blue Origin’s Acceptance of Bitcoin and Ethereum: A Potential Shift in Space Tourism Payments

Blue Origin’s acceptance of Bitcoin, Ethereum, and USDT for space tourism is a groundbreaking move that enhances the accessibility of space travel for crypto enthusiasts. Customers can now secure their