19 May 2025, 18:02

Sei Labs releases whitepaper for Sei Giga targeting multiproposer EVM L1

Sei Labs, the main contributor to the layer 1 blockchain Sei, has announced the release of the Sei Giga whitepaper that outlines the design of the industry’s first multi-proposer Ethereum Virtual Machine layer 1 blockchain. Sei Giga is Sei ( SEI ) blockchain network’s new path towards becoming the first multi-proposer Ethereum Virtual Machine L1. According to an announcement shared with crypto.news, the upgrade proposes a design of parallel blocks, powered by the Autobahn consensus protocol. It means Sei Giga brings a solution to network bottlenecks related to data availability, execution, and storage, among others. The whitepaper release is the latest major development for Sei as the layer 1 blockchain continues its traction as one of the fastest-growing ecosystems in the market. Read more: Sei proposes EVM-only architecture, phasing out Cosmos transactions and smart contracts Sei has secured over $30 million from some of the leading venture capital firms in the crypto space, including Jump Crypto, Multicoin Capital, and Coinbase Ventures. “Sei Giga is not just another EVM chain — it’s a reimagining of what’s possible for blockchain performance,” said Jay Jog, co-founder of Sei Labs. “By moving towards multi proposer consensus and rebuilding the execution environment from the ground up, we’re unlocking the scale and speed required for real-world, high-throughput applications — all while maintaining trust guarantees and ease of use of Ethereum.” Analytics firm Nansen recently pointed out that Sei outpaced other chains as a gaming explosion helped active addresses rise. In the past 24 hours, the active address count has jumped 44%, with over 457k addresses. Daily transactions have also increased by 43% to over 1.03 million. Over the past week, @SeiNetwork had the highest change % in active addresses. With that being the case, top sectors by users on the network: 🎮 Gaming is dominating: – @nika_labs : 323K users – @EUFTonSEI : 111K users – @dragon_slither : 28.8K users pic.twitter.com/5bVjqHg7FW — Nansen 🧭 (@nansen_ai) May 19, 2025 Sei Giga features include 5 gigagas throughput, 200k transactions per second, and sub-400 millisecond finality. Sei Giga introduces more than 50x throughput, 70x faster block production, and an execution efficiency of 40x. EVM compatibility means support for Ethereum smart contracts, enabling seamless integration with ETH apps. Decentralized exchanges and trading apps can leverage the upgrade to bolster their user experience. You might also like: Solana’s Sonic SVM chain introduces new burn mechanism to boost liquidity

19 May 2025, 17:51

Bybit users can now trade 78 global stocks directly with USDT as part of its Gold & FX expansion

Bybit has launched direct trading of top global stocks with USDT as part of its Gold & FX (MT5) expansion. The new feature covers 78 key stocks from the technology, automotive, energy, and e-commerce industries. Bybit said , “Users can now tap into traditional markets like stocks, gold, oil, indices, and forex, without fiat onboarding or leaving the crypto ecosystem.” The crypto exchange added that the launch allows it to “unify crypto, stocks, and traditional assets under one roof” and enables “seamless trading” across asset classes from a single account. Major stocks include Apple ($AAPL), Tesla ($TSLA), Meta ($META), Nvidia ($NVDA), Amazon ($AMZN), and Microsoft. Bybit users will be discounted Stock trading on Bybit will be facilitated through Contracts for Difference (CFDs) instead of Spot trading or the purchase of physical shares. This will allow users to gain exposure to price movements without owning the underlying asset. A fee of 0.04 USDT per share applies. It has a minimum charge of 5 USDT per order. From June 2 to June 15, all Bybit users will get a 50% discount on fees for trading stocks through Gold & Forex. Investors still remember the massive crypto heist worth around $1.5 billion that happened in February . CEO Ben Zhou said at the time that the crypto was stolen from a so-called “cold wallet,” or a digital wallet for ether tokens that are typically stored offline and said to be more secure. Bybit is also experiencing some challenges in China. The Bybit team said that it heard from users that they could not take money from the Bybit platform because of a problem with KYC verification when using an Apple ID. Bybit has more than 70 million users in 160 countries and regions. The exchange, which lets you buy and sell coins like Bitcoin and Ether, recently said that its 24-hour trading volume hit $40.11 billion. The Stablecoin market reaches a new high With $150 billion in circulation, Tether now has 61% of the stablecoin market. Coin USDC comes next with $60.4 billion in assets, and Ethena USDe comes in third with almost $5 billion. With authorized amounts of $2.3 billion and $1.8 billion, networks like Solana and Avalanche are still behind as the stablecoin market grows. The USD1, which was just released by President Trump’s World Liberty Financial, has gained more than $2.1 billion in value. For the most part, these funds are linked to MGX’s $2 billion investment in Binance. Other well-known stablecoins are Ripple USD and PayPal’s PYUSD. They have accumulated assets of $900 million and $313 million, respectively. This week, stablecoins have kept up their fast growth, and their market value reached a new high of $243.8 billion. Meanwhile, Tether has created $1 billion worth of USDT on the Tron blockchain. This means that it now has more authorized supply than Ethereum. This is the start of a new phase in the fight between the two networks to be the most popular stablecoin. The openness data from Tether shows that Tron’s authorized USDT now exceeds $74.7 billion, passing Ethereum’s $74.5 billion. When it comes to the amount of money that is actually in circulation, Tron has $73.6 billion, while Ethereum has $71.8 billion. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage

19 May 2025, 17:49

Circle talks with Coinbase, Ripple on potential sale, while still pursuing IPO - report

More on Circle Internet Group, Inc., Coinbase An Update On Coinbase's Q1 2025 Earnings (Rating Upgrade) Coinbase: Now Could Be A Great Time To Buy And Hold Coinbase Global, Inc. (COIN) Presents at Annual JPMorgan Global Technology, Media and Communications Conference (Transcript) Stablecoin giant Circle secures regulatory approval to expand Middle East operations

19 May 2025, 17:45

Solana Leads in DEX Volume for 5th Week; Q1 App Revenue Hits $1.2 Billion

Solana tops DEX volume for 5 weeks, hitting $26.2B and leading all blockchains. Q1 2025 app revenue on Solana hits $1.2B, led by Pump.fun and Phantom. Stablecoin value on Solana surges 145% to $12.5B, signaling strong ecosystem growth. Solana recorded the highest decentralized exchange (DEX) volume across all blockchains for the fifth straight week. Its total trading volume reached $26.2 billion over the last seven days. This data, highlighted by sources like cryptoamanclub on X, puts Solana ahead of both Binance Smart Chain (BSC) and Ethereum in this key area. BSC posted $25.5 billion in weekly DEX volume. Ethereum registered $15.7 billion for the same period. BREAKING: #Solana dominates DEX activity, topping all chains in weekly volume for 5 weeks straight. https://t.co/wsJeKL5QGk pic.twitter.com/ZsrpzhoTCS — Crypto Aman (@cryptoamanclub) May 19, 2025 Solana Tops DEX Volume Rankings for Fifth Consecutive Week These volume numbers show Solana as the most transacted blockchain recently. Binance Smart Chain followed in second place. Ethereum came in third, even with its long history as the first major smart contract platform. Layer-2 solutions Base … The post Solana Leads in DEX Volume for 5th Week; Q1 App Revenue Hits $1.2 Billion appeared first on Coin Edition .

19 May 2025, 17:15

Pi Network price crashes amid insider sales, rug pull claims

Pi Network price continued its downward trend on Monday following last week’s ecosystem news event. Pi Coin ( PI ) token plunged to a low of $0.7165, down by 57% from its highest level this month. It is also hovering near its lowest level since May 9. It has erased over $4.21 billion in value in the last few days as the market cap fell from $9.35 billion to the current $5.14 billion. Pi Network price has crashed as concerns about the coin rose. First, there are concerns that insiders have been selling tokens in their wallets. In an X post, Dr. Altcoin, a popular pundit on X, estimated that the team had dumped about 700 million coins in the past few months. Need evidence !? Five months ago, 5.4 billion Pi coins were transferred from the Pi Foundation 1 wallet to the Pi Foundation 3 wallet. Over the past four months, nearly 700 million Pi were transferred from the Pi Foundation 3 wallet to the Pi Foundation 2 wallet in batches… pic.twitter.com/VsjuoKT2cb — Dr Altcoin (@Dr_Picoin) May 19, 2025 Another data point on the PiScan site shows that the Pi Foundation withdrew 15.02 million Pi Coins in the last 24 hours. The wallet now has 25.28 million coins valued at over $18.1 million. You might also like: XRP futures debut on CME as Garlinghouse hails key ‘milestone’ Pi Network price also crashed as the Core Team was accused of running a rug pull scam earlier this month. Some analysts noted that the team sent an X post hinting at a major announcement during the Consensus event. That post triggered a short squeeze, which pushed the token up by over 200%. Some analysts noted that Pi Foundation used the rally to sell more coins. A key concern among investors and exchanges is that Pi Network is a highly centralized crypto project that is not audited. The Pi Foundation holds over 90 billion tokens, exposing the community to risk if something like a hack or a token dump happened. Worse, the Core Team has not revealed any details about the foundation’s membership. The centralization issue likely explains why tier-1 exchanges like Coinbase and Binance have not listed it three months after its launch. Further, there are concerns that Pi Network has become a ghost chain or a blockchain with no developers. While the Pi Network Venture s launch is a step in the right direction, analysts note that it could take over a year before funded projects launch in the mainnet. Pi Network price analysis Pi price chart | Source: crypto.news The eight-hour chart shows that the price of Pi Coin has been in a strong downtrend in the past few days. It has moved from a high of $1.6708 on May 12 to $0.7260. Pi has moved below the key support at $0.7902, the highest swing on April 5 and 12. It has dropped below the 50-day moving average and is forming a bearish pennant pattern, a popular continuation sign. Therefore, the coin will likely keep falling as sellers target the support at $0.5745, the lowest swing on April 29. You might also like: Cardano price has crashed, but a rare pattern, whale buying, points to a rebound

19 May 2025, 17:06

Cardano Teeters at $0.72 – Will Whales Ignite a 50% Rally or Crash?

Cardano’s 25% rally vanished in barely 10 days, and on Monday, the token was teetering at $0.72—one misstep could send it tumbling toward levels not seen since before last year’s rebound. If buyers can’t defend this support, Cardano ($ADA) risks falling further. The native token of the proof-of-stake blockchain has struggled to breach the $1.20 level for nearly three years, having last reached an all-time high of $3.10 in the summer of 2021. $ADA Struggling at $1: Why Cardano Hasn’t Reclaimed Its Former Glory Since its launch in September 2017 by Ethereum co-founder Charles Hoskinson, Cardano has maintained a strong position among the top 10 cryptocurrencies. It currently boasts a market capitalization exceeding $25 billion. However, $ADA’s inability to reclaim the $1.00 threshold, an area of psychological and technical importance for bulls, has raised concerns among traders about a potential slide into bearish territory. Despite this, popular crypto analyst Ali Martinez remains optimistic. He suggests that $ADA holding above the $0.72 level could trigger a rebound toward $0.92 in the near term. If the current structure on #Cardano $ADA is an ascending channel, holding above $0.72 could pave the way for an upswing toward $0.92. pic.twitter.com/vgNNfuudPd — Ali (@ali_charts) May 18, 2025 Another analysis by Bull Spot Bear points to $ADA’s lagging performance relative to the M2 Global Liquidity Index (global money supply), implying that the token could surge by more than 50% to around $1.80 if it aligns with macro liquidity trends. On-Chain Indicators Flash Green as Whales Accumulate Millions in $ADA On-chain data from Santiment further supports this bullish narrative. Recent whale activity shows that over 80 million $ADA were accumulated in a short span, following a previous 400 million ADA acquisition just two weeks prior. This accumulation by large holders suggests growing institutional or whale-level confidence. Trading volume has also seen an uptick. Despite $ADA’s 3.79% price drop in the past 24 hours, trading volume surged by over 54%, with more than $1.14 billion worth of $ADA changing hands, an encouraging sign of continued market engagement. Cardano Price Chart/ Source: CoinMarketCa p Futures market sentiment appears similarly bullish. Derivatives data from Coinglass shows positive funding rates for $ADA/$USDT, $ADA/$USDC, and $ADA/$USD trading pairs across major platforms such as Bybit, OKX, and Binance. A positive funding rate indicates that long traders are paying shorts, suggesting expectations of price increases. What’s Next for $ADA? Key Resistance and Support Levels to Watch $ADA is currently trading within a clearly defined ascending channel on the daily timeframe. After a strong rally that saw $ADA approach the $0.90 region, the token has entered a corrective phase, now pulling back to the lower boundary of the channel around $0.72. Cardano Price Analysis/ Source: TradingView This level coincides with dynamic trendline support, suggesting a potential rebound zone. The 16.22% upside projection from current levels targets the $0.85–$0.87 area, which sits just beneath a major resistance band spanning from $0.88 to $0.90. A successful breakout above that range would open the door to retest the higher resistance zone between $1.095 and $1.1499, which was last visited in March and remains a psychologically major level for bulls. The price structure also shows prior consolidation in the $0.58 to $0.66 range (highlighted in blue), which now acts as a solid demand zone should the channel support fail. If bulls can defend the lower channel and reclaim short-term momentum, $ADA could begin a fresh leg up, targeting $0.85 first and potentially $1.10. However, a confirmed breakdown below $0.70 would invalidate this bullish setup and may drag the price back into the previous consolidation zone. The post Cardano Teeters at $0.72 – Will Whales Ignite a 50% Rally or Crash? appeared first on Cryptonews .