16 Jun 2025, 20:47

Centralized Exchanges Embrace DeFi: Bybit, Coinbase, and Binance Double Down on “CEX-on-Chain” Revolution

A major shift that could reshape the landscape of crypto trading is taking place. Large centralized exchanges— CEXes —that inhabit the crypto bro universe are lurching toward something resembling responsible behavior. They’re looking to on-chain ecosystems for clues about how to build a trading environment that resembles their current user experience but without the unfathomable risk to users that accompanies their current business model. Bybit is leading this charge; the company is launching an apparent DEX, Byreal, built on Solana, with a go-live date set for later this month. Coinbase and Binance have already entered DeFi territory, and the “CEX-on-chain” era has officially begun. These new platforms are trying to bridge the gap between the convenience of centralized exchanges and the innovation of decentralized finance while maintaining trust, accessibility, and performance. Bybit’s Byreal: CEX Speed, DeFi Infrastructure Bybit’s forthcoming DEX, Byreal, represents its first product fully operating on-chain and highlights its dedication to the developing DeFi ecosystem. Byreal is constructed on Solana’s rapid, low-cost infrastructure, and uses a combination of a Request for Quote (RFQ) model and a Concentrated Liquidity Market Maker (CLMM) to offer the sort of tight spreads and fast execution our users have come to expect from a centralized exchange. Byreal is more than a DEX. It is designed to proffer institutional-grade features within the decentralized framework. The key elements are: Combining RFQ and CLMM hybrid routing allows us to ensure price efficiency and minimize slippage, especially during high-volume trades. We are designing fair-launch vaults with built-in yield layers, targeting them to attract sticky liquidity from day one. These vaults will create incentives for long-term capital engagement. Our aim, in this case, is to avoid mercenary farming. Bybit is now among the players in the on-chain space with its new product, Byreal. This is part of a larger trend among centralized exchanges, which are looking to reinvent themselves in the current climate, to meet traders on decentralized platforms. Coinbase and Binance: Building Trusted, On-Chain Access Bybit is not running this race alone. Coinbase and Binance have both started programs that confuse the distinction between centralized and decentralized finance—each in its own not-so-typical fashion. The on-chain solution from Coinbase works thanks to Base, the Layer-2 network over Ethereum that the exchange built. With its app now effectively enabling DEX trading, Coinbase is offering a way to wrap DeFi liquidity in KYC-compliant layers. To list the key advantages: Continuous direction to every DeFi token inside the application Compliant and translucent, like the best institutional apps A mixed interface that merges the familiar trust of TradFi with the desired agility of DeFi Meanwhile, Binance is making a big bet on early-stage discovery with its Binance Alpha platform. Alpha serves as a curated sandbox where users can interact with experimental tokens from Ethereum, BSC, Solana, Sui, and more—all without leaving the Binance app. Some of these tokens may graduate to a full Binance listing, giving users early access and Binance a built-in product vetting funnel. This methodical way of handling DeFi tokens lets Binance combine user-friendly guidance with a decentralized decision-making structure, fostering innovation without sacrificing safety. Why “CEX-on-Chain” is the Next Crypto Battleground What is propelling this strategic shift from centralized players to on-chain operations? Several crucial factors: Capital is flowing on-chain: Protocols like @HyperliquidX are experiencing huge growth in user volumes and TVL (Total Value Locked), showing that DeFi is now too big to be ignored. Token price discovery happens on-chain: Whether we’re talking about memecoins, AI tokens, or something else, the real action happens on DEXes, where the earliest price momentum is found. Builders want decentralized rails: Any protocol or application that wants to achieve sustainable growth must be on-display and liquid on-chain. Users want trust + access: CEXes solve for both by providing a trust-preserving environment within which to use DeFi; the fact that they’re busy doing this makes CEXes part of the decentralized future. CEXes are finally taking note and going permissionless: @coinbase , @binance , and @Bybit_Official just kicked off a “CEX-on-chain” market grab: • Coinbase: DEX trading + Verified pools • Binance: Binance Alpha (curated + sandboxed tokens) • Bybit: Byreal RFQ+CLMM – – – – – 1.… pic.twitter.com/ECeQHjfZQj — Ash (@ahboyash) June 15, 2025 This wave of hybrid solutions symbolizes a new theory: Internet Capital Markets—open, global, and permissionless financial marketplaces where capital flows directly to creators, builders, and ideas. Instead of fighting against DeFi’s momentum, big exchanges are transforming themselves into portals for the next stage of blockchain adoption. Their recent on-chain moves leave one wondering if we are headed for a future in which centralized reputation and decentralized infrastructure coexist—ushering in a more inclusive and interconnected crypto economy. When Byreal finally launches, everyone will be watching to see how its hybrid models stack up and whether “CEX-on-chain” will become the new industry standard. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

16 Jun 2025, 20:35

Whale Exodus and Sudden Crash Spark Rug Pull Fears Around $ZKJ Token

In a stunning overnight drop, the value of Polyhedra Network’s native token, $ZKJ , crashed more than 80%, sending shockwaves through the DeFi space and leaving behind over $99 million in liquid liquidations. What just last week was being pointed to as one of the most profitable farming tokens—and especially one that was yielding Binance Alpha Points when paired with $KOGE—has now sparked a heated (and some would say unpleasant) debate among investors and analysts about whether this was a real market crash or just a well-orchestrated rug pull. A Sudden Fall From Grace Only a few days ago, $ZKJ was being lauded in the DeFi world for its exceptional performance and interesting yield opportunities. It was being praised for how it had integrated into Binance’s Alpha Points system, and users were going wild adding $ZKJ and $KOGE to their liquidity pools to earn the maximum possible rewards. And then, in just a few hours, all of that changed. The token crashed below $0.40, descending from a prior height close to $2.00, with numerous owners taken by surprise at the quickness and size of the drop. Those following the crash allege it was not an accidental event. Instead, they cite as the cause of the event large holders of the token—whale accounts—who apparently decided to dump their holdings just before the token started crashing. Onchain Data Reveals $ZKJ Whale Dumping Activity According to on-chain analytics from Key Insight Display (KID), several wallets holding significant amounts of $ZKJ began to shift their assets in the hours leading up to the crash. One wallet, flagged by DexCheck, added about $58,000 of $ZKJ to a liquidity pool at around $1.90, only to turn around and sell the same amount barely an hour later. Soon after, the same address exited from the liquidity pool, taking with it 132,000 $ZKJ tokens, and sold them for just over $100,000, averaging about $1.50 per token. KID isn’t the only outfit on the case. KID has worked up a pretty good story—based on what’s called on-chain analysis, a way of reading what’s happened where and to whom on the blockchain. A different, more well-known wallet is said to have invested $2.7 million to acquire 1.3 million ZKJ tokens at an average price of $2. That wallet, however, fully exited this position by selling off the remaining assets at prices as low as $0.70, which would mean a realized loss so large it could only be taken as a sign of near-total insolvency, unless the original purchase was somehow such a confidence-inspiring move that the buyer of it felt it necessary to make use of this 2.7 million dollar portion of his apparent assets. Many now believe that the crash was not simply brought on by overall market sentiment but was rather the result of coordinated selling by important insiders, or by some early investors, who had begun to unload their shares in a big way. These movements have led people to think of the crash as something more sinister. CEX Movements and Market Fallout More than $2 million worth of $ZKJ tokens have, in the past 24 hours, apparently been sent to centralized exchanges. The most popular destinations were Binance and OKX, which might have been picking up the slack for the primarily DeFi $ZKJ. We now have a fresh semi-transparent indication that folks are readying a substantial sell-off. Multiple whale accounts offloaded $ZKJ before the crash Polyhedra ($ZKJ) slumped to new lows following a series of trading activities. Onchain data suggests whale influence on the downtrend. As spotted by the Key Insight Display (KID), Multiple whale accounts and top holders… pic.twitter.com/ZWB1IPnKft — DexCheck AI (@DexCheck_io) June 16, 2025 The aftermath has been brutal for liquidity providers (LPs), especially those participating in the $ZKJ–$KOGE pool. Many saw their positions wiped out almost instantly, with total liquidation losses estimated to exceed $99 million. The event has not only shaken confidence in $ZKJ but has also cast a long shadow over similar yield farming mechanisms that rely heavily on speculative incentives rather than fundamental token utility. The community is now demanding transparency as the mounting questions about whether or not the insiders at Polyhedra orchestrated the collapse are being asked. Certain users are even going so far as to call for centralized exchanges to freeze assets tied to whale wallets that are under suspicion and to launch internal investigations. Conclusion: A Familiar Pattern or Misfortune? Even though the Polyhedra team has not yet issued an official statement, the on-chain data is showing signs that the crypto community has come to know all too well: a “slow rug pull.” This is when insiders methodically extract value from a project, unwinding their positions gradually and without drawing any attention—at least, any attention that would raise red flags and prompt people to get out of the way. It’s unclear whether the $ZKJ crash was a deliberate rug pull or just an unfortunate result of bad timing in the market. But one thing is certain: DeFi investors now have another cautionary tale to tell. It’s especially relevant for apps that rely on yield and for any investors looking to them. The world of cryptocurrency watches intently as probes go deeper and more information comes to light, praying that the today’s investigations yield some solid, teachable moments that can be used to prevent tomorrow’s losses. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

16 Jun 2025, 20:34

Solana gets new hybrid DEX from Bybit

The Byreal DEX will use both centralized and decentralized liquidity sources to route trades

16 Jun 2025, 20:34

Trump’s Truth Social Continues Crypto Push With Dual Bitcoin And Ethereum ETF Filing

US President Donald Trump’s social media platform, Truth Social, has filed with the US Securities and Exchange Commission to launch a joint Bitcoin and Ethereum exchange-traded fund (ETF), a hybrid investment vehicle offering exposure to the top two cryptocurrencies. The ETF’s Setup In a Form S-1 submitted Monday, the proposed “Truth Social Bitcoin and Ethereum ETF, B.T.” would have a holdings ratio of 75% BTC and 25% ETH, with Singapore-based exchange Crypto.com serving as the custodian, execution agent, and liquidity provider. Trump Media and Technology Group signaled its intent to issue a crypto exchange-traded fund earlier this month as it filed paperwork for a fund focused solely on Bitcoin, called the Truth Social Bitcoin ETF. The new ETF seeks to offer traditional investors exposure to both Bitcoin and Ether by giving them shares backed by the crypto assets, eliminating the intricacies related to buying and storing the tokens themselves. The ETF shares are proposed to be listed on the New York Stock Exchange Arca (NYSE Arca), per the Monday filing. The product fees are yet to be disclosed. The inclusion of Ethereum aligns with the Trump family’s crypto activity; World Liberty Financial holds over 95% of its assets on the Ethereum blockchain, according to data tracked by Arkham Intelligence. If approved, the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would join a crowded and competitive market already dominated by nearly a dozen established asset managers, including BlackRock, whose iShares Bitcoin Trust holds a whopping $70 billion in assets on behalf of its clients — accounting for roughly 3.37% of Bitcoin’s total supply. Trump Deepens Crypto Fray The latest filing furthers the Trump Media and Technology Group’s deepening involvement with crypto. In late May, it raised $2.32 billion to build its own BTC treasury, though the firm has not yet announced any Bitcoin acquisitions. Moreover, Trump’s family has become linked to a slew of crypto projects as the President’s administration eases restrictions on the hot sector. As you may recall, President Trump debuted an official meme coin on the Solana blockchain back in January, just days before his swearing-in. Before that was the launch of the Ethereum decentralized finance platform World Liberty Financial, which has since unveiled its own governance token and stablecoin .

16 Jun 2025, 20:21

BNB price eyes $700 amid volume surge

Binance Coin (BNB) is trading above $650 as some altcoins gain momentum, with Bitcoin above $108,600 and up nearly 3% in the past 24 hours. As top altcoins mirror the uptick, BNB price is up 1.7% and approaching the critical $700 resistance level. On the catalyst table is robust network activity and heightened decentralized finance (DeFi), which has BNB seeing a notable spike in daily volume. The BNB Chain is also recording significant numbers in decentralized exchange volumes as institutional adoption grows. BNB price: Bulls gain as $700 Over the past 24 hours, BNB’s price has risen by 1.7%, trading at $658 at the time of writing. The token’s price is in the red in a weekly frame, while it has gained 2.8% over the past month. However, BNB is looking to climb to $700, buoyed by increased network activity and positive market sentiment. The BNB Chain has seen a remarkable spike in DEX volume , processing over $4.29 billion in 24 hours and $35 billion this past week. In May, the volume hit over $100 billion. The jump in DEX volume highlights robust DeFi activity, with PancakeSwap leading the charge with $2.19 billion over the past 24 hours and more than $5 billion in the past seven days. Per CoinMarketCap, spot trading volume is up 18% to over $1.58 billion. Bulls may ride this surge in volume and open interest to go higher. In May, buyers managed to test bears above $690. The last time BNB traded above $700 was in January 2025. Meanwhile, its all-time high of $793 in December 2024. BNB price outlook: What next? Gains for BNB in recent weeks have come as the BNB Chain Foundation scooped up 17 BSC ecosystem assets. This follows the platform’s $100 million Incentive Program, which is in its second month. The BNB Chain Foundation’s 17 assets cut across ecosystem sectors such as artificial intelligence, decentralized finance, GameFi, and meme coins. Purchased tokens include PancakeSwap, Lista DAO, Video XBT, and Moolah. From technical indicators, charts suggest BNB is poised for further gains, though caution is warranted. The token is trading above its 50-day moving average, a bullish signal, but faces resistance at $670. BNB price chart by TradingView On the daily chart, the Relative Strength Index (RSI) remains in the neutral area near 51. This indicates buyers may have room for upward movement. However, the moving average convergence divergence suggests weakness remains following a recent bearish crossover. A flip positive will help buyers, but profit taking and overall market turbulence could derail this outlook. If BNB price breaks above $700, it could open up a retest of the ATH and potentially a run to $1,000. The post BNB price eyes $700 amid volume surge appeared first on Invezz

16 Jun 2025, 20:06

Bitcoin price primed for recovery, unless geopolitical tensions get worse: Bitfinex

Bitcoin’s trading after the conflict between Israel and Iran resembles a capitulation, and recovery may be coming soon, says Bitfinex’s report. Bitcoin (BTC) experienced a sharp downturn following the recent conflict between Israel and Iran, triggering a wave of risk-off sentiment among investors. However, according to a Bitfinex Alpha report published on June 16, the market may be positioned for a recovery, provided global tensions do not escalate further. While Bitcoin started the previous week on a strong note, rising 4.7% and testing its all-time high at $109,590, the unexpected Israeli strikes on Iran on June 13 unexpected Israeli strikes on Iran and the subsequent retaliations made traders much more risk-averse. Investors panicked, but Bitcoin remained resilient: Bitfinex Alpha A spike in oil prices, driven by concerns that a broader conflict could disrupt oil production, further added to macroeconomic uncertainty. Following the attacks, Bitcoin fell 7.3%, coinciding with a sharp drop in net taker volume to negative $197 million — a level suggesting widespread panic in the market. Bitcoin net taker volume | Source: Bitfinex According to Bitfinex analysts, such sharp declines in net taker volume often indicate capitulation, a pattern seen in previous market bottoms. The crypto fear and greed index also slid quickly into “fear” territory, reinforcing the narrative of a likely local bottom. You might also like: Bitcoin crashes as Israel launches attack on Iran, but charts saw it coming first “This selling, however, combined with a spike in liquidations, resembles past capitulation—style setups that often mark local bottoms. If Bitcoin can hold the $102,000–$103,000 zone, it may suggest that selling pressure is being absorbed and that the market could be primed for recovery—assuming geopolitical risks don’t intensify further,” Bitfinex Alpha report. Despite the panic, the overall market correction has been relatively mild. Bitcoin saw a 9% peak-to-trough decline — much smaller than previous major drawdowns. Bitfinex notes that this trading range has been observed in nearly half of the sessions during the current cycle, suggesting that recent volatility remains within typical bounds. If the $102,000 support zone holds and macro conditions stabilize, the current setup could pave the way for a renewed bullish trend. Read more: Oil, inflation, and Bitcoin are now locked in the same trade