Paxos Acquires Crypto Wallet Startup Fordefi to Expand Custody Services

Paxos has acquired Fordefi to enhance its infrastructure for stablecoin and tokenization, integrating Fordefi's MPC wallet technology to expand its regulated capabilities in custody and institutional on-chain operations.

Stellar's token has surged by 2.3%, breaking through the critical resistance level of $0.2460, driven by increased institutional flows and a notable rise in trading volume. This movement indicates a significant accumulation trend above the seven-day average, suggesting a potential shift in market dynamics.

Filecoin's price surged by 9% as it broke a downtrend, indicating a potential shift in market dynamics. This strong price movement occurred on below-average trading volume, suggesting a cautious but optimistic sentiment among investors.

U.S. Bank, the fifth-largest commercial bank in the U.S., is testing the issuance of custom stablecoins on the Stellar Network, marking a significant exploration of how traditional banking can integrate with public blockchain technology. This initiative reflects a growing interest in digital currencies among established financial institutions.

The price of TON has pulled back after an initial rally driven by the expansion of the Telegram ecosystem, with trading activity declining sharply as traders focus on key support levels near $1.50. This shift indicates a waning interest from buyers following a brief surge in demand.

Internet Computer (ICP) has successfully surpassed the critical resistance level of $4.20, accompanied by increased trading volume, indicating a potential upward momentum in its market performance. However, late-session consolidation has narrowed the gains achieved during this breakout.

BONK has successfully broken through a significant overhead resistance level, with trading volume surging 85% above its average, indicating strong market interest and momentum. This breakthrough has been followed by a late pullback that has established a new support band for the cryptocurrency.

Bitcoin is currently underperforming compared to equities, despite bullish catalysts in the market. The gap has widened due to gains in AI-driven stocks and significant leverage in the cryptocurrency sector, leading to a negative sentiment surrounding Bitcoin's performance.