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  • SYRUP, MOVE, DEXE among top gainers as cryptocurrencies eye fresh gains

    SYRUP, MOVE, DEXE among top gainers as cryptocurrencies eye fresh gains

    Bitcoin And Cryptocurrencies

    • Cryptocurrencies are up as Maple Finance (SYRUP) price spikes 19% amid institutional DeFi adoption.
    • The Movement (MOVE) token gained 17% as price hits $0.19 on rising volume.
    • DeXe’s DEXE token jumped 10% in 24 hours to hit highs above $9 after a sharp rebound off $5.30.

    Maple Finance (SYRUP), Movement (MOVE), and DeXe (DEXE) have posted remarkable price moves in the past 24 hours, all up by double-digits as cryptocurrencies bid for further gains.

    The upside action for these altcoins come as Bitcoin holds above $106k, and stock futures suggest investors are pricing in a thawing in the Israel-Iran hostilities.

    At the time of writing, SYRUP traded around $0.62, up nearly 19% in 24 hours. Meanwhile, MOVE hovered near $0.18 and DEXE changed hands at highs of $9.10, up 17% and over 10% respectively.

    Analysts at QCP Group summed up the market sentiment in a post on X:

    “Israel resumed strikes shortly after a fragile ceasefire, but markets barely reacted. Traders seem to have priced in peace or stopped waiting. Risk appetite surged as the Nasdaq 100 hit record highs and the S&P 500 neared its 2020 peak. Oil also returned to pre-conflict levels.”

    Maple Finance (SYRUP) price

    Maple Finance’s SYRUP token has soared 19% in the last 24 hours, trading to highs of $0.62 with a market capitalization of $684 million. A 24-hour trading volume of $188 million, up 24% in this period,  reflects strong market confidence.

    The price rally aligns with broader crypto gains,with top altcoins also rallying.

    However, Maple’s transition to a leading on-chain asset manager, and blending traditional finance expertise with decentralized finance (DeFi) innovation, is seeing industry take notice.

    Maple’s lending and structured products are appealing to institutional investors, which is likely to buoy the $SYRUP token further.

    Currently, Coinglass data shows open interest in SYRUP is up 56% to nearly $69 million, while derivatives volume has jumped to over $308 million.

    Movement (MOVE) surges to $0.19

    Movement’s MOVE token has climbed 17% over the past day, reaching $0.19.

    A look at the charts also shows that MOVE is up more than 42% in the past week, with gains coming amid fresh interest in the token. Move Foundation’s buyback initiative is part of the upside catalysts, with 10 million and 8 million repurchased on June 20 and June 22 respectively.

    DeXe (DEXE) price jumps to $9

    DeXe’s DEXE token rose sharply after tapping support near $5.30 on Wednesday.

    With gains of over 10% in 24 hours, the token’s price jumped to a high of $9.10, rising amid a 560% spike in daily volume. Per CoinMarketCap, the daily volume for DEXE stood at $104 million at the time of writing.

    Gains for DeXe come as its governance model, which allows DEXE holders to influence protocol decisions, strengthens community trust.



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  • UTXO, SNZ, and Jump Crypto among major institutions adopting sBTC

    UTXO, SNZ, and Jump Crypto among major institutions adopting sBTC

    UTXO, SNZ, and Jump Crypto among major institutions adopting sBTC

    • Stacks’ sBTC gains traction with UTXO, SNZ, Jump Crypto as early adopters.
    • With this adoption, the demand for sBTC has tripled capacity in under 24 hours.
    • The sBTC unlocks Bitcoin DeFi, with withdrawals set to start in March 2025.

    A new wave of institutional adoption is sweeping through the Bitcoin ecosystem as Stacks, a prominent Bitcoin Layer 2 solution, celebrates the rapid uptake of its decentralized, Bitcoin-backed asset, sBTC.

    Leading the charge among early sBTC adopters are industry heavyweights UTXO Management, SNZ, and Jump Crypto, signalling strong confidence in sBTC’s potential to unlock decentralized finance (DeFi) utility for Bitcoin holders worldwide.

    UTXO Management, a key player with its venture arm backing top Bitcoin companies and its liquid fund 210k Capital deploying resources across public and private markets, has embraced sBTC as part of its Bitcoin strategy.

    Jump Crypto, a division of the renowned Jump Trading Group, brings its expertise as a quantitative trading firm and infrastructure builder to the table. Saurabh Sharma of Jump Trading notes, “sBTC fosters a more dynamic and interconnected financial landscape.”

    SNZ, a crypto-native investment firm with a footprint in Hong Kong, Singapore, and the US, continues its legacy of supporting Bitcoin innovation. It was an early backer of Stacks and other public blockchains in Asia.

    Other notable participants include CMS Holdings, an active investor in Bitcoin scaling ventures; RootstockLabs, a pioneer behind the Rootstock sidechain; Sypher Capital, with its focus on generating native Bitcoin yield; and Asymmetric Research, a security partner to major protocols like Solana and Wormhole.

    Together, these institutions underscore sBTC’s broad appeal across the crypto ecosystem, from trading and investment to technical development and security.

    The rising enthusiasm for sBTC

    Launched on the Stacks mainnet in December 2024, sBTC has quickly positioned itself as a game-changer in the tokenized Bitcoin landscape, enabling programmable smart contracts and transactions secured by Bitcoin’s robust infrastructure.

    The enthusiasm for sBTC was evident from the start, with its initial capacity cap filled by a roster of influential depositors, prompting a second cap raise that tripled availability on February 25th.

    Remarkably, this expanded capacity was fully subscribed in under 24 hours, reflecting surging demand from institutions, wealth managers, builders, and retail investors alike.

    Among the standout sBTC use cases driving this momentum is Zest, a fast-growing application that has already captured nearly 40% of the sBTC within the protocol, showcasing the asset’s immediate usability and appeal.

    For Bitcoin enthusiasts, sBTC represents a bridge between the cryptocurrency’s unparalleled security and the dynamic possibilities of DeFi.

    Unlike traditional staking or locking of Bitcoin on its base layer, sBTC activates capital by enabling a wide range of financial applications, from yield generation to lending and decentralized exchanges.

    Alex Miller, CEO of Hiro, a developer tooling company within the Stacks ecosystem, emphasized the sBTC’s transformative potential stating that the growing adoption of sBTC provides essential liquidity for developers building and scaling applications.

    Notably, the rise of sBTC comes amid a broader surge in Bitcoin Layers, which have seen their total value locked (TVL) soar by over 460% in the past year, climbing from approximately $500 million in 2024 to $2.8 billion by February 2025, according to CoinGecko data.

    This growth reflects a growing recognition among Bitcoin (BTC) holders that Layer 2 solutions like Stacks can enhance functionality without compromising the core principles of security and decentralization.

    With tokenized Bitcoin assets now accounting for 1.67% of BTC’s circulating supply, the highest level since October 2022, sBTC is poised to play a central role in this evolving narrative.

    Looking ahead, Stacks is preparing to roll out withdrawal functionality for sBTC in March 2025, a milestone that will further solidify its utility. As the leading Bitcoin Layer 2 by developer traction and market cap, Stacks is driving a movement to transform Bitcoin’s $1 trillion in passive capital into a fully programmable, productive asset.

    With support from top staking providers, custodians, and ecosystems like Solana and Aptos, sBTC is not just connecting Bitcoin to DeFi—it’s paving the way for a future where all roads in crypto lead back to Bitcoin.

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