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BitcoinWorld Unlocking the Future: Pivotal Progress on Crypto ETF Approval for Bitcoin and Ethereum Are you ready for a potential game-changer in the world of digital assets? The cryptocurrency market is buzzing with anticipation following recent developments that suggest significant strides toward the Crypto ETF Approval for both Bitcoin and Ethereum. This isnât just another rumor; itâs a tangible step forward that could reshape how investors access and interact with these leading cryptocurrencies. Letâs dive into what these recent filings from the Chicago Board Options Exchange (CBOE) truly signify and why they are creating such a stir. Whatâs the Buzz About In-Kind Crypto ETF Approval ? The latest news comes directly from the forefront of financial analysis. According to Bloomberg analyst James Seyffart, five funds listed on the CBOE have submitted amendments to their filings with the U.S. Securities and Exchange Commission (SEC). These amendments are crucial because they pertain to âin-kindâ creation and redemption mechanisms for Bitcoin and Ethereum Exchange-Traded Funds (ETFs). Understanding In-Kind vs. Cash Creation/Redemption To fully grasp the importance of these filings, itâs essential to understand the difference between âin-kindâ and âcashâ creation/redemption for ETFs: Cash Creation/Redemption: In a cash model, authorized participants (APs) give cash to the ETF issuer, who then buys the underlying assets (like Bitcoin or Ethereum) on the open market. Conversely, when redeeming, the issuer sells the assets and gives cash back to the APs. This method can introduce complexities, including potential tax inefficiencies and market impact from large purchases or sales. In-Kind Creation/Redemption: This is the preferred method for many traditional ETFs. Here, APs directly exchange the underlying assets (Bitcoin or Ethereum) for ETF shares. When redeeming, APs return ETF shares to the issuer and receive the actual cryptocurrencies. This method is generally more efficient, potentially offering tax advantages and reducing the operational burden on the ETF issuer. It also minimizes direct market impact, as the APs are handling the asset transfers directly. Seyffart views these updated filings as a strong indicator of ongoing coordination and fine-tuning between the ETF applicants and the SEC. This collaborative effort suggests that both parties are working towards a viable framework, paving the way for eventual Crypto ETF Approval . Why is This Progress on Crypto ETF Approval So Significant? The potential approval of in-kind Bitcoin and Ethereum ETFs represents a monumental step for the cryptocurrency market. Itâs not merely a technicality; it has profound implications for institutional adoption, market maturity, and investor accessibility. Opening the Floodgates for Institutional Investment For years, traditional financial institutions have eyed the crypto market with a mix of fascination and caution. ETFs, particularly those with an in-kind mechanism, provide a familiar and regulated vehicle for these institutions to gain exposure to digital assets without directly managing the complexities of cryptocurrency custody and trading. This could unlock significant capital inflows from pension funds, endowments, and asset managers, further legitimizing Bitcoin and Ethereum as investable assets. Enhanced Market Legitimacy and Maturity SEC approval, especially for in-kind ETFs, signals a higher level of regulatory comfort and market maturity. It suggests that the underlying crypto markets are deemed sufficiently robust and resistant to manipulation, addressing long-standing concerns from regulators. This stamp of approval can bolster investor confidence, attracting a broader spectrum of participants who might have previously hesitated due to perceived risks or regulatory uncertainty. Simplified Access for Retail Investors While direct cryptocurrency ownership has become more accessible, ETFs offer a streamlined pathway for everyday investors. They can buy and sell shares through traditional brokerage accounts, eliminating the need to navigate crypto exchanges, digital wallets, or complex private key management. This ease of access is crucial for mainstream adoption and could bring millions of new investors into the crypto ecosystem, fostering greater liquidity and stability. Navigating the Road Ahead: Challenges and Opportunities for Crypto ETF Approval While the recent filings are undeniably positive, the journey to full Crypto ETF Approval is not without its hurdles. The SEC maintains a cautious stance, prioritizing investor protection and market integrity. Persistent Regulatory Scrutiny The SECâs primary mandate is to protect investors. This means rigorous examination of proposals, particularly for novel asset classes like cryptocurrencies. Concerns about market manipulation, custody solutions, and accurate pricing remain at the forefront. While progress is evident, the SEC will likely continue its thorough due diligence, which could lead to further adjustments or delays. Operational Complexities and Custody Solutions Implementing an in-kind creation and redemption model for volatile and digitally native assets like Bitcoin and Ethereum presents unique operational challenges. Securely storing vast amounts of cryptocurrency, managing transfers, and ensuring robust cybersecurity measures are paramount. ETF issuers must demonstrate highly sophisticated and reliable custody solutions that meet stringent regulatory standards. Unlocking New Investment Strategies Despite the challenges, the opportunities presented by these potential ETFs are immense. Beyond direct exposure, the approval could pave the way for more sophisticated investment products, such as options on crypto ETFs, providing new avenues for hedging and speculative strategies. This diversification of financial instruments could further deepen the crypto market and integrate it more fully into the global financial landscape. As the dialogue between ETF applicants and the SEC continues, market participants should remain attentive to official announcements and regulatory updates. The path to full Crypto ETF Approval is a testament to the growing maturity of the digital asset space and its increasing integration into traditional finance. This progress is not just about a new investment product; itâs about validating a new asset class and opening doors to a future where digital assets play an even more central role in global portfolios. Conclusion: A New Dawn for Digital Assets? The CBOE filings for in-kind Bitcoin and Ethereum ETFs represent a significant milestone in the ongoing quest for broader cryptocurrency adoption and regulatory clarity. James Seyffartâs insights underscore the collaborative efforts between applicants and the SEC, suggesting that the industry is moving closer to a pivotal moment. While challenges remain, the potential benefitsâincluding increased institutional investment, enhanced market legitimacy, and simplified investor accessâare transformative. This journey towards Crypto ETF Approval is a clear indicator that digital assets are steadily solidifying their position within the mainstream financial ecosystem, promising an exciting future for investors and the market as a whole. Frequently Asked Questions (FAQs) Q1: What exactly does âin-kindâ creation and redemption mean for a crypto ETF? A: âIn-kindâ creation means that authorized participants (APs) deliver actual cryptocurrencies (like Bitcoin or Ethereum) to the ETF issuer in exchange for new ETF shares. âIn-kindâ redemption means APs return ETF shares to the issuer and receive the actual cryptocurrencies. This differs from âcashâ models where only cash is exchanged, potentially offering benefits like tax efficiency and reduced market impact. Q2: Why is the SECâs approval of an in-kind Bitcoin or Ethereum ETF considered a major development? A: SEC approval, especially for in-kind ETFs, signifies increased regulatory comfort with the underlying crypto markets and their integrity. It provides a regulated and familiar investment vehicle for traditional institutions and retail investors, potentially unlocking significant capital inflows and enhancing the legitimacy and maturity of the crypto asset class. Q3: How do these CBOE filings affect the timeline for actual ETF approval? A: While these amended filings indicate positive progress and ongoing dialogue between applicants and the SEC, they donât guarantee immediate approval. They suggest that the parties are fine-tuning the proposals to meet regulatory requirements. The exact timeline remains uncertain, as the SEC conducts thorough reviews, but these are strong signals of advancement. Q4: What are the main benefits for investors if an in-kind crypto ETF is approved? A: Investors could benefit from easier access to Bitcoin and Ethereum through traditional brokerage accounts, without the complexities of direct crypto ownership. In-kind ETFs may offer greater tax efficiency and potentially lower operational costs, making them an attractive option for both institutional and retail investors seeking exposure to digital assets. Q5: Are there still challenges to the approval of these in-kind crypto ETFs? A: Yes, challenges remain. The SEC continues to scrutinize proposals for market manipulation risks, robust custody solutions, and overall investor protection. While progress is being made, applicants must demonstrate their ability to meet stringent regulatory standards, which can involve further adjustments and detailed operational plans. If you found this article insightful, consider sharing it with your network! Help us spread the word about the exciting progress in Crypto ETF Approval for Bitcoin and Ethereum by sharing this piece on your favorite social media platforms. To learn more about the latest Bitcoin and Ethereum trends, explore our article on key developments shaping Bitcoin and Ethereum institutional adoption . This post Unlocking the Future: Pivotal Progress on Crypto ETF Approval for Bitcoin and Ethereum first appeared on BitcoinWorld and is written by Editorial Team
$PUMP nosedived 34% in 24 hours, now trading at $0.0037, and faces brutal sell-offs as early backers dump billions, sparking fears of a deeper plunge. Pump.funâs flagship token once soared after a record $500M ICO, but whale exits and fading momentum now threaten its meme empire. From Meme Launchpad to Ecosystem Powerhouse Following its record-breaking $PUMP token launch in Julyâone of the largest ICOs of the year âPump.fun has solidified its position as a major player in the meme token space. The initial offering sold $500 million worth of $PUMP tokens , indicating strong investor interest. However, this rapid success was just the beginning. Shortly after the ICO, major centralized exchanges like Kraken and Bybit listed $PUMP, driving trading volumes to an astonishing $5.08 billion within the first 24 hours. Yet, the launch was not without controversy. Critics accused whales of hoarding the token, leading to extreme price volatility. In response, Pump.fun moved swiftly to stabilize the market, spending $18 million to buy back 3.04 billion tokens in an effort to curb speculation and restore confidence. According to On-chain data, Pumpfun has allegedly transferred 101,900 SOL, worth approximately $16 million, to a buyback address. Lookonchain shows that, Pumpfun has sold a total of approximately 4.1M SOL ($741M) at an average price of approximately $180 since May 19, 2024.⌠â Wu Blockchain (@WuBlockchain) July 16, 2025 As a Solana-based meme token launchpad, Pump.fun has evolved far beyond its initial purpose. Known for its one-click token minting, the platform has attracted millions of users looking to capitalize on the meme coin frenzy. Since its 2024 debut, it has generated over $700 million in revenue, creating viral tokens such as Dogwifhat ($WIF), Fartcoin ($FARTCOIN), and MOONPIG. To date, more than 11 million tokens have been created on the platform. Expanding its reach, Pump.fun recently launched PumpSwap, a decentralized exchange (DEX) dedicated to âgraduatedâ meme tokensâthose with enough liquidity to sustain deeper markets. Introducing PumpSwap, Pumpâs new native DEX beginning NOW all coins that complete their bonding curve will migrate directly to PumpSwap PumpSwap enables â instant migrations â 0 migration fees (down from 6 SOL) â more liquidity â creator revenue sharing (coming soon) & more pic.twitter.com/T9BkmmaVVS â pump.fun (@pumpdotfun) March 20, 2025 This move not only enhances price discovery but also solidifies Pump.funâs role in the ongoing meme trading market. Additionally, the project made its first acquisition. The platform purchased Kolscan , a wallet-tracking tool that monitors the on-chain activity of top traders. $PUMP: Utility, Governance, and Selling Pressure The $PUMP token serves as the native utility and governance asset for the platform, powering rewards, protocol fees, and user incentives. Despite its strong utility, the token has faced heavy selling pressure. Recent blockchain data from Lookonchain reveals that early backers have been offloading billions of $PUMP onto exchanges, sparking fears of a further price decline. The $PUMP price has dropped below its private/public sale price of $0.004. "PUMP Top Fund 1" spent 100M $USDC to buy 25B $PUMP at $0.004 in the private sale. So far, he has deposited 17B $PUMP ($89.5M) to exchanges via #FalconX and still hold 8B $PUMP ($29.58M). "PUMP Top Fund⌠pic.twitter.com/xibWUaCOxz â Lookonchain (@lookonchain) July 22, 2025 One wallet, âPUMP Top Fund 1,â acquired 25 billion $PUMP ($100 million) during the presale. Last week, it deposited 17 billion tokens (~$90 million) onto exchanges. According to BitMEX, nearly 60% of presale participants have already sold or transferred their holdingsâa trend that could indicate weakening confidence. $PUMP Slides Deeper as Buying Interest Fades The decline in PUMP/USDT has been steady rather than sudden, with the price grinding down over several sessions. After failing to hold the $0.0046â$0.0048 zone earlier in the week, the market has printed a clear pattern of lower highs, and the price is now hovering near $0.00370. Each recovery attempt has been shortâlived, emphasizing the weight of the broader downtrend. $PUMP/USDT price chart, July 22 (Source: TradingView) Momentum indicators have been warning of this weakness. The RSI has fallen to around 32, brushing against oversold territory and reflecting a lack of sustained buying pressure. The MACD has also rolled over decisively, with its lines sitting well below zero and the histogram stacked with red bars. These signs show that bearish momentum has been in control for several sessions, and rallies that emerge have been corrective rather than trendâchanging. The orderâflow footprint also speaks volumes. Recent hourly prints are dominated by heavy negative deltas, like a â266.75M delta on 6.3B turnover and another â345.92M on 6.11B. These figures reveal aggressive selling into bids and buyers unable to absorb the flow. $PUMP/USDT Volume chart, July 22 (Source: TradingView) Even strong green bursts, such as a +516.42M delta on 7.35B, were quickly followed by more selling, suggesting those moments were fleeting rather than the start of a shift. For now, the market remains under pressure. Until PUMP can reclaim and hold above $0.00390 with fresh volume, the path of least resistance stays to the downside. Support in the $0.00360 region may offer the next test to see if sellers finally lose their grip. The post Whales Abandon $PUMP; 17B Tokens Hit Exchanges, Threatening Fresh Lows appeared first on Cryptonews .
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Roman Trading was initially surprised by Bitcoinâs all-time high despite predictions. Ethereum shows potential for further rise after a brief consolidation phase. Continue Reading: Ethereum Bulls Rally as Prices Eye New Heights Despite Uncertainty The post Ethereum Bulls Rally as Prices Eye New Heights Despite Uncertainty appeared first on COINTURK NEWS .
BitcoinWorld Cryptocurrency Sanctions: Urgent Warning for UK Crypto Firms on Under-Reporting Violations The digital asset world is dynamic, innovative, and rapidly evolving. Yet, with great innovation comes significant responsibility, especially concerning financial regulations. Recently, the UKâs Office of Financial Sanctions Implementation (OFSI) issued a stark warning that has sent ripples through the cryptocurrency sector: many firms are under-reporting financial sanctions violations. This isnât just a minor oversight; itâs a critical challenge that could have profound implications for the integrity and security of the UKâs crypto ecosystem. While OFSI acknowledges that most instances of under-reporting are unintentional, the message is clear: vigilance and robust compliance frameworks for cryptocurrency sanctions are more crucial than ever. Why are Cryptocurrency Sanctions a Growing Concern? Financial sanctions are powerful tools used by governments to combat terrorism, proliferation, and serious crime, as well as to pressure states or individuals to change their behavior. They restrict financial flows and economic activities with designated entities. In the traditional financial system, banks and institutions have decades of experience navigating these complex rules. However, the unique characteristics of cryptocurrencies present novel challenges: Pseudonymity and Global Reach: While not truly anonymous, the pseudonymous nature of crypto transactions, coupled with their borderless flow, makes it challenging to identify the ultimate beneficial owners and trace illicit funds across jurisdictions. Speed and Volume: Thousands of transactions occur every second, making real-time screening for sanctioned entities incredibly difficult without advanced technological solutions. Decentralization: The decentralized nature of some crypto protocols means there isnât always a central authority responsible for enforcing compliance, shifting the burden to service providers. Evolving Landscape: The regulatory environment for digital assets is still maturing, leading to potential gaps in understanding and implementation of existing sanctions regimes. These factors contribute to a landscape where firms, despite their best intentions, might inadvertently become conduits for illicit finance, making effective management of cryptocurrency sanctions a paramount concern. Unpacking OFSIâs Alarming Findings on Cryptocurrency Sanctions Compliance OFSIâs recent threat assessment report serves as a wake-up call. The report highlights that while the volume of crypto-related sanctions breaches reported to them remains low, this is likely due to significant under-reporting rather than a lack of actual violations. This suggests a dangerous blind spot within the industry. Key takeaways from OFSIâs assessment include: Unintentional Non-Compliance: A significant portion of under-reporting is attributed to firmsâ lack of awareness, insufficient understanding of sanctions requirements, or inadequate compliance systems. This isnât about malicious intent but rather a systemic vulnerability. Lack of Robust Systems: Many crypto firms, particularly newer or smaller ones, may not have invested sufficiently in the sophisticated tools and expertise required to effectively screen transactions and counterparties against sanctions lists. Data Gaps: The difficulty in obtaining comprehensive Know Your Customer (KYC) and transaction data in certain crypto contexts can impede effective sanctions screening. Consequences of Negligence: Failing to report or address sanctions breaches, even unintentional ones, can lead to severe penalties. These can range from significant financial fines to reputational damage, and in serious cases, criminal prosecution for individuals and firms involved. The message is clear: ignorance is not a valid defense when it comes to adhering to cryptocurrency sanctions . The report underscores the urgent need for crypto firms to re-evaluate and strengthen their compliance frameworks to meet the rigorous standards expected by financial regulators. The Looming Threat: North Korean Hackers and Cryptocurrency Sanctions Evasion Adding another layer of urgency to OFSIâs warning is the specific threat posed by state-sponsored cybercriminals, particularly those linked to North Korea. The report explicitly highlights that UK crypto firms are at a high risk of being targeted by these sophisticated actors. Why North Korea? Funding Illicit Programs: North Korea heavily relies on cyberattacks, including crypto heists and ransomware, to fund its weapons programs and circumvent international sanctions. Cryptoâs global, fast-moving nature makes it an attractive target for these illicit financing activities. Sophisticated Tactics: North Korean hacking groups, such as Lazarus Group, are notorious for their advanced persistent threats (APTs), employing highly sophisticated phishing campaigns, malware, and social engineering techniques to infiltrate crypto exchanges, DeFi protocols, and individual wallets. Exploiting Vulnerabilities: They actively seek out weaknesses in security protocols, human vulnerabilities, and gaps in compliance systems to launder stolen funds and evade cryptocurrency sanctions . This direct threat means that compliance isnât just about avoiding regulatory penalties; itâs about protecting assets, safeguarding customer funds, and preventing the inadvertent financing of hostile state actors. Itâs a matter of national and international security. Navigating the Complex Landscape of Cryptocurrency Sanctions: Best Practices for Firms Given the escalating risks, what steps can UK crypto firms take to bolster their defenses and ensure robust compliance with cryptocurrency sanctions ? Itâs about building a multi-layered approach that integrates technology, policy, and human expertise. Here are actionable insights: Enhance KYC/AML Procedures: Implement rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) checks from onboarding. This includes collecting comprehensive identity information, verifying sources of funds, and conducting ongoing monitoring of customer activity. For high-risk clients or large transactions, Enhanced Due Diligence (EDD) is essential. Implement Robust Transaction Monitoring: Utilize automated systems that can screen all incoming and outgoing transactions against global sanctions lists in real-time. These systems should be capable of flagging suspicious patterns, unusual volumes, or direct/indirect links to sanctioned entities. Regular Sanctions List Screening: Ensure your systems are continuously updated with the latest OFSI, UN, EU, and other relevant international sanctions lists. This includes individuals, entities, and wallet addresses. Staff Training and Awareness: Human error is a significant vulnerability. Conduct regular, comprehensive training for all employees, particularly those involved in compliance, customer service, and security. They must understand the risks, the firmâs policies, and how to identify and report suspicious activity related to cryptocurrency sanctions . Incident Response Plan: Develop and regularly test a clear incident response plan for sanctions breaches or cyberattacks. This plan should outline reporting procedures to OFSI and other relevant authorities, containment strategies, and recovery protocols. Utilize Blockchain Analytics Tools: Leverage specialized blockchain analytics software to trace the flow of funds, identify suspicious wallets, and de-anonymize transactions where possible. These tools are invaluable for investigations and risk assessments. Independent Audits: Conduct periodic independent audits of your compliance program to identify weaknesses and ensure adherence to regulatory requirements. Building a Robust Defense Against Cryptocurrency Sanctions Risks Moving beyond basic compliance, firms must cultivate a culture of proactive risk management. This involves not just reacting to warnings but anticipating future threats and adapting swiftly. Consider the following: Technology Adoption: Invest in cutting-edge AI and machine learning tools that can detect subtle anomalies and complex patterns indicative of sanctions evasion. These technologies can process vast amounts of data more efficiently than manual methods. Collaborative Intelligence: Engage with industry bodies, cybersecurity firms, and even other regulated entities to share threat intelligence and best practices. Understanding evolving tactics used by illicit actors is vital. Clear Reporting Mechanisms: Establish unambiguous internal channels for employees to report potential sanctions violations or suspicious activities without fear of reprisal. Timely reporting to OFSI is a legal obligation. Regulatory Engagement: Maintain open lines of communication with OFSI and other relevant regulators. Staying informed about new guidance and participating in industry consultations can help firms align their strategies with regulatory expectations concerning cryptocurrency sanctions . By integrating these elements, UK crypto firms can transform their compliance functions from a mere checklist into a strategic asset that protects the business and contributes to the broader financial integrity. The Path Forward for Cryptocurrency Sanctions Compliance The OFSI warning is not an indictment of the entire crypto industry but a critical call to action. It highlights areas where improvement is desperately needed to safeguard the sectorâs future. For UK crypto firms, the imperative is clear: embrace robust compliance not just as a regulatory burden, but as a fundamental pillar of trust and security. By proactively addressing the challenges of under-reporting and fortifying defenses against sophisticated threats like North Korean hackers, the industry can mature, gain greater legitimacy, and truly realize its potential while upholding international financial integrity. The future of digital assets in the UK hinges on the industryâs collective commitment to stringent cryptocurrency sanctions compliance. Itâs a shared responsibility to ensure that this innovative space remains a force for good, free from the shadow of illicit finance. Frequently Asked Questions (FAQs) What is OFSI and what is its role? OFSI, the Office of Financial Sanctions Implementation, is a department within HM Treasury responsible for ensuring financial sanctions are effectively implemented and enforced in the UK. Its role includes providing guidance, issuing licenses, and monitoring compliance. Why are crypto firms struggling with cryptocurrency sanctions compliance? Crypto firms face unique challenges due to the pseudonymous, global, and fast-paced nature of digital asset transactions. Many also lack the mature compliance infrastructure seen in traditional finance, leading to difficulties in screening, monitoring, and identifying ultimate beneficial owners. What are the risks of non-compliance with cryptocurrency sanctions? Non-compliance can lead to severe consequences, including substantial financial penalties, reputational damage, loss of licenses, and even criminal charges for individuals and firms involved. It also exposes firms to the risk of facilitating illicit activities like terrorism financing or proliferation. How can UK crypto firms improve their cryptocurrency sanctions compliance? Firms should enhance KYC/AML procedures, implement robust transaction monitoring and sanctions screening tools, conduct regular staff training, develop strong incident response plans, and leverage blockchain analytics. Proactive engagement with regulators and independent audits are also crucial. Are North Korean hackers specifically targeting UK crypto firms? Yes, OFSIâs report explicitly warns that UK crypto firms are at high risk of being targeted by North Korean hackers. These state-sponsored groups actively seek to exploit vulnerabilities in crypto platforms to fund their illicit weapons programs and evade international sanctions. Is unintentional under-reporting of cryptocurrency sanctions violations still a serious issue? Absolutely. While not malicious, unintentional under-reporting still represents a significant vulnerability in the financial system. OFSI emphasizes that firms are expected to have robust systems in place to detect and report all violations, regardless of intent, and failure to do so can still incur penalties. If you found this article informative, please share it with your network to help raise awareness about critical cryptocurrency sanctions compliance and security challenges in the digital asset space. Your vigilance helps strengthen the entire ecosystem! To learn more about the latest crypto market trends, explore our article on key developments shaping digital assetsâ regulatory landscape. This post Cryptocurrency Sanctions: Urgent Warning for UK Crypto Firms on Under-Reporting Violations first appeared on BitcoinWorld and is written by Editorial Team
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The move adds BitGo to the number of growing companies lining up to take their companies public, with Bitcoin recently setting new all-time highs.
SUI is one of the most actively traded tokens on derivative markets, ranking sixth based on open interest. Based on accumulated short positions, the token may make a move above $4. SUI open interest remains near an all-time high, making the asset the sixth most actively traded after blue chip coins and tokens. SUI open interest is close to $1B, sitting just behind Hyperliquid (HYPE). Glassnode puts the open interest at $1.2B, with a wider selection of included markets. The recent expansion of derivative trading may boost SUI performance in the case of an extended altcoin market. As of July, SUI has outperformed BTC on a three-month basis, adding over 31% to its price. SUI traded near its three-month high, at around $3.91. SUI trades close to a three-month high, expecting a potential hike above $4 and a breakout to new highs. | Source: Coingecko SUI is one of the few L1 tokens aiming to rival Solana. The recent SUI expansion follows the overall interest in L1 tokens, a narrative with the biggest strength for the past months. SUI short positions signal a move above $4 The peak open interest of SUI comes with a predominance of long positions, at over 77% of open interest. On Hyperliquid, however, whales are mostly balanced, with 10 whales going long and 11 shorting SUI. Due to the predominance of long positions, SUI is currently bound in a range, as traders attack and liquidate the longs. In the past 24 hours, SUI saw $2.2M in long liquidations. However, the token has also accrued over $16M liquidity around the $4.10 level. In the past week, SUI already touched this price range, liquidating a part of the short position, but traders rebuilt their liquidity, hoping for a downward price move. However, SUI remains driven by optimism and may attempt to attack the short positions once again. SUI short positions are accumulating once again above $4, after traders swept the previous liquidity. | Source: Coinank For now, the token has not seen a short squeeze, but a breakout can attack that level. SUI achieved its all-time peak at $5.24 in January, and bulls expected a new record above $6. SUI grows on lending expansion SUI already carries $2.19B in total value locked, near an all-time high. The value expanded rapidly in July, charting a series of records, riding the general trend of DeFi recovery. SUI is one of the slower-growing networks due to its inability to be EVM-compatible and its attempt to build an independent ecosystem similar to Solana. All DeFi protocols expanded their value locked by close to 50%. The recently hacked Cetus DEX restarted on June 8 and expanded its liquidity by 55% in the past month. Suilend remains the main driver of activity on the chain, as demand for lending spreads to new chains. Suilend held over $738M, expanding its liquidity by 48.79% in the past 30 days. The protocol also grew its value to a new all-time peak. SUI currently carries over $977M in stablecoin liquidity, still lagging behind larger L1 chains. Despite this, stablecoin usage on SUI has been extremely active. Despite the small supply, SUI caught up with Solana in terms of daily stablecoin transfers . Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites