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Crypto
Crypto deleveraging continues; Galaxy Research says not a 2022-style collapse
Crypto market deleveraging is continuing for a third straight quarter, but it differs from the sharp collapses seen in the 2022 bear market, an analysis said. Galaxy Research said leverage is shrinking across the market at a relatively orderly pace, with recent quarterly declines of 10 percent, 5 percent and 17 percent. Total outstanding loans fell 16.78 percent to $56.16 billion, while DeFi and CeFi balances also declined.
Crypto
Crypto unicorns see market value plunge after listing, some down as much as 99%
Major crypto projects valued at more than $1 billion in private investment rounds have seen their market capitalisation plunge after listing, with some down more than 99 percent, an analysis showed. Data cited by BeInCrypto showed 10 projects now have market caps of $7 million to $294 million, down 88 percent to more than 99 percent from their last venture valuations. Scroll recorded the biggest fall, while Starknet saw the largest loss by value.
Crypto
Mantle expands into Solana ecosystem
Ethereum layer-2 Mantle\'s native token MNT is expanding into the Solana ecosystem. Mantle says the move is part of an effort to position MNT as an asset with real utility across multiple ecosystems rather than being tied to a single network. Mantle highlighted its Mantle Super Portal, which supports an MNT bridge between Ethereum and Solana and connects Ethereum, Solana and centralized finance into a single capital flow. Mantle also linked with Solana-based DeFi platform Byreal, while Bybit added MNT deposits and withdrawals on Solana and spot trading.