Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
Bitcoin slips below $65,000 as Trump's new global tariffs rattle markets
Edgen Crypto·Jul 24 2026, 02:47Share to
Share to
Copy link
[1] Bitcoin Falls Below $65K as Trump's New Global Tariffs Rattle Crypto Markets (https://www.tokenpost.com/news/investing/2230 ...)[2] US tariff deadline puts India at a crossroads despite trade deal optimism (https://newseisamay.com/india/national-trend/ ...)[3] Why Bitcoin’s Latest Bounce Back to $65,000 Might Not Last (https://beincrypto.com/bitcoin-on-chain-analy ...)[4] MSTR Stock Falls Amid Bitcoin’s Drop Below $65K – Strategy Joins BlackRock, Coinbase In $15 Million Bitcoin Security Push (https://finance.yahoo.com/markets/crypto/arti ...)[5] Bitcoin defies recent tech stocks sell-off: Are bulls eyeing $70K rally? (https://cointelegraph.com/markets/bitcoin-def ...)
Related News
Jul 24 2026, 03:39
Sky Protocol revenue tops $107M as sUSDS supply surges 149%
Sky Protocol generated $107.35M in Q2 gross revenue, up 10.5% year-over-year, as sUSDS supply surged 149% to $5.52B. "Sky Protocol delivered its second straight quarter above $100M in gross revenue, driven by strong collateral growth and sUSDS adoption," the Sky Frontier Foundation said in its Q2 2026 quarterly report published July 23. Protocol collateral reached $12.32B, up 45.5% from $8.47B a year earlier, against $12.22B in obligations. Net protocol revenue expanded 25.1% to $40.09M, with the net revenue margin widening to 37.3% from 33%. The protocol posted its fifth consecutive quarterly surplus at $33.29M and remitted $29.87M to Sky Reserves, bringing the reserve to $82.40M against a $150M solvency target. The results validate Sky Protocol's risk controls after the protocol operated without interruption during April's $292M Kelp DAO rsETH bridge exploit. Annualized gross revenue run-rate now stands at $429.4M based on Q2 monthly settlement cycles, with the protocol targeting continued reserve accumulation through its calibrated 3.6% Sky Savings Rate. Sky Protocol, the decentralized lending platform formerly known as MakerDAO, operates on Ethereum. Its yield-bearing token sUSDS maintained its position as the largest rate-bearing stablecoin by supply, with cumulative Sky Savings Rate distributions to holders crossing $250M on June 29. Total USDS supply stood at $10.04B at quarter end after peaking above $11.8B in early April, following the mid-quarter rate reduction from 3.75% to 3.6%. Prime Agent Vaults totaled $6.84B, approximately 55% of total protocol collateral, with $2.58B allocated across six institutional counterparties including Janus Henderson ($1.24B), BlackRock BUIDL ($713M), Anchorage ($260M), PayPal ($237M), Securitize ($102M), and Galaxy ($27M). All allocations are visible in real time on the Sky Protocol Financial Dashboard, which launched May 6. Distribution expanded during the quarter. Binance completed its upgrade from DAI to USDS with automatic one-to-one conversion of user balances, and sUSDS became accessible through Binance Wallet. SKY token became available on Revolut across the European Economic Area on April 30. Spark launched the Stablecoin FX Layer on Uniswap v4 on June 25, seeding $150M in initial liquidity and processing over $70M in volume in its first three days. Total SKY staked grew to 17.08B at quarter end, or 73.3% of circulating supply, up from 69.8% at the close of Q1. The protocol deployed $3.41M in USDS to open-market SKY buybacks during Q2, acquiring 51M SKY at an average price of $0.067, bringing cumulative program deployments past $121M since inception in February 2025. On April 24, Sky Frontier Foundation introduced Laniakea, an infrastructure framework designed to standardize how institutional capital deploys through Sky Protocol across smart contracts, risk and governance, data infrastructure, and legal and compliance. The framework aims to onboard institutional partners in weeks rather than months, targeting the more than $300B in stablecoin capital not currently earning any yield. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 03:37
Sui launches gas-free stablecoin transfers, targeting 1 billion users
Sui Network introduced gas-free stablecoin transfers on July 23, eliminating one of the biggest friction points in Web3 payments. "The gas fee has been the single largest barrier to mainstream stablecoin adoption," the Sui Foundation said in a statement. "By removing it, we make sending value as easy as sending a message." The feature lets users transfer stablecoins without holding SUI tokens for gas, with apps covering transaction costs instead. Transfers can be initiated via email, link or QR code — no wallet address required. The system uses Sui's programmable transaction blocks to batch 1,024 actions into a single transaction, reducing overhead for complex payment flows. The move targets the $180 billion stablecoin market, where high gas fees on Ethereum and other L1s have limited everyday payment use cases. Sui, which processes transactions in 390 milliseconds with parallel execution, aims to capture a share of stablecoin volume currently dominated by Ethereum and Tron. USDT on Tron alone accounts for more than $50 billion in supply, according to DefiLlama. The gas-free model extends beyond simple transfers. Sui's zkLogin lets users authenticate with Google credentials, eliminating seed phrase management. The network's Walrus Protocol enables on-chain data storage, while the Seal encryption system gives users granular control over data access. Together, these features create a stack where users never need to interact with a blockchain directly. Sui's total value locked stood at $1.2 billion as of July 23, according to DefiLlama, with the network processing roughly 5 million daily transactions. The gas-free stablecoin feature could accelerate TVL growth by attracting users who previously avoided DeFi because of transaction costs. The announcement follows the launch of Hashi, a protocol that lets Bitcoin holders earn yield on Sui without wrapping their BTC. Together, the two features give Sui a dual path to attract both Bitcoin liquidity and stablecoin payment flows. For stablecoin issuers and DeFi protocols, Sui's gas-free model could shift where liquidity concentrates. If users no longer need to factor gas costs into transaction decisions, the network with the lowest friction may capture an outsized share of payment volume. SUI traded at $1.84 as of 14:30 UTC, up 4.2% in the past 24 hours, according to CoinGecko. This article is for informational purposes only and does not constitute investment advice.
Jul 24 2026, 02:54
AVAX falls 4.9% to $6.57 as short sellers pile into falling market
AVAX fell 4.9% to $6.57 as open interest climbed and funding rates turned negative, signaling aggressive short positioning on Avalanche's native token. "Short sellers are gaining conviction as AVAX breaks below the $6.50 support zone that held for two weeks," Coinglass data showed, with open interest rising to 2.79 million contracts as of 14:00 UTC. The spot cumulative volume delta declined noticeably over the same period, confirming steady selling pressure on centralized exchanges. The funding rate slipped to negative 0.0011%, meaning short positions are paying longs a small premium to maintain their bets. AVAX traded between $6.469 and $6.662 in the past 24 hours, with the $6.50 level now acting as resistance after flipping from support. Bitcoin's drop below $65,000 added macro pressure, dragging Avalanche and other altcoins lower alongside the broader market. The dense cluster of short liquidations between $6.70 and $6.85 creates short squeeze risk if buyers step in, but the path of least resistance remains lower. A daily close below $5.89 — the base of the consolidation range that has held since May — would open the door toward $6 and below, invalidating the recovery structure. Avalanche, a Layer-1 blockchain built on the Snowman consensus protocol with a three-chain architecture, has seen its token underperform as network activity metrics fail to translate into price support. The Avalanche C-Chain, which handles EVM-compatible smart contracts, processed a 20x surge in daily transactions in recent weeks, yet the price stalled near $7 before reversing lower. The $7.08 swing high tested in early July was not broken, and the subsequent rejection has dragged prices into a two-week range between $6.38 and $6.78. That range has now broken to the downside, with the $6.40 support zone breached in the current session. Santiment's latest ranking placed Avalanche third among blockchain projects in real-world asset development activity, behind Hedera and Chainlink, based on GitHub commits. The RWA narrative has been a key growth thesis for Avalanche, which has positioned itself as institutional-grade infrastructure for tokenization. However, development activity has not translated into near-term price support. Traders maintaining a bearish bias should watch for a potential short squeeze. The two-week AVAX liquidation heatmap shows a dense cluster of short liquidations in the $6.70 to $6.85 zone, which could act as a magnetic price target if buying pressure emerges. Any sudden reversal could force short sellers to cover, accelerating a rally toward that zone before the broader downtrend resumes. This article is for informational purposes only and does not constitute investment advice.