Coinbase launches ETH-backed loans as onchain lending tops $1.25B

Ether treasury companies are currently facing significant unrealized losses as Ether's price has fallen below $3,000, erasing a year's worth of gains. The decline in mNAV valuations raises concerns that ETH could drop further, potentially below $2,500, complicating the financial landscape for these companies.

MegaETH has announced the launch of a $250 million USDC pre-deposit bridge, allowing users to earn USDM and rewards based on their deposit size ahead of the mainnet launch.

World App has launched a pilot program for virtual bank accounts that will facilitate USDC payroll deposits. This feature provides users with unique virtual account numbers, enabling them to receive direct deposits, including payroll payments, directly into the World App.

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, approximately six weeks after its debut in the United States. This new offering will allow Brazilian users to trade over 10,000 tokens directly within the Coinbase app, enhancing their trading experience.

Coinbase is launching its decentralized exchange (DEX) trading platform in Brazil, allowing users to trade over 10,000 tokens directly within the Coinbase app. This rollout comes approximately six weeks after the platform's debut in the United States.

Bitcoin and Ether have experienced significant outflows, while Solana ETFs have seen an inflow of $30 million. This trend indicates a shift in investor sentiment, with many moving away from Bitcoin and Ether amidst declining prices. The overall market sentiment remains negative as investors reassess their positions in the cryptocurrency space.

Coinbase has launched its decentralized exchange (DEX) trading platform in Brazil, coinciding with new regulations from the country's central bank that require crypto firms to obtain licenses and report international transactions. This initiative aligns with Coinbase's vision of becoming an 'everything app' for cryptocurrency users.

CryptoQuant CEO Ki Young Ju has identified a realized price level of $56,000 for Bitcoin amid its current correction. He clarified that this figure should not be interpreted as a definitive bottom, emphasizing that market conditions and sentiment could lead to price fluctuations. Ju's analysis categorizes the market into futures, spot, and on-chain segments, noting a shift from futures whales to retail dominance in trading activity.