U.S. Bancorp Begins Stablecoin Testing on Stellar

The Minneapolis-based banking giant recently established a new division dedicated to digital assets and blockchain-based money transfers. The stablecoin tests launched within this framework indicate that the bank aims to take a more active role in blockchain-powered payment and transfer systems in the future.

Mike Villano, head of digital asset products at U.S. Bank, noted that Stellar’s “asset freeze” feature—designed specifically for institutional structures—played a decisive role in their evaluation. This feature allows institutions to freeze on-chain assets when necessary, providing major advantages in terms of regulation, security, and risk management.

The Stablecoin Race Among Major Banks Is Accelerating

U.S. Bancorp’s move comes at a time when traditional financial giants are increasingly entering the stablecoin space. Stablecoins—digital assets backed 1:1 by cash reserves and short-term U.S. Treasuries—have gained significant attention for enabling fast and low-cost global transfers.

Recent developments highlight rising institutional demand:

• Citigroup choosing Coinbase as a stablecoin partner
• JPMorgan expanding usage of its blockchain-based JPM Coin
• Accelerated regulatory discussions for U.S. stablecoin frameworks

U.S. Bancorp also announced last month that it is working in two major areas: crypto asset custody services and stablecoin-based payment solutions. However, CEO Gunjan Kedia stated that demand on the payments side is still limited, whereas the bank sees much greater potential in custody and asset management services.

Why Is the Stellar Network Attractive for Institutions?

The Stellar blockchain stands out for its architecture designed specifically for financial transactions and tokenization. Key advantages it offers institutions include:

• Asset freeze and account control mechanisms
• Low transaction fees
• High speed
• Compliance-focused tools

Because of these features, Stellar is actively used by major financial institutions such as Circle (issuer of USDC) and Franklin Templeton. According to the Stellar Development Foundation, the network processed $32 billion in payments last year and reached 9.8 million unique wallets as of September—showing increasing institutional adoption.

Overall Assessment

U.S. Bancorp’s decision to begin stablecoin testing on the Stellar network is considered a critical milestone for both the bank’s digital asset vision and the institutional future of blockchain-based finance. The bank’s preference for Stellar’s security and control mechanisms demonstrates that major financial institutions now see blockchain not merely as a theoretical option but as a solution actively being tested. This move could intensify competition within the stablecoin market and accelerate the integration of traditional banks into the digital asset ecosystem.

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Key Intraday Levels for Bitcoin

The BTC/USD pair has dropped 0.86% in the past 24 hours and is currently trading at $104,176. Bitcoin (BTC) broke through the $101,545 resistance level, moving into a higher price range. If the upward momentum continues, the next resistance level stands at $105,766. Support levels are at $102,599 and $101,545.

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Ethereum (ETH): The ETH/USDT pair has gained 1.55% in the last 24 hours, currently trading at $3,240. Resistance levels for Ethereum (ETH) are at $3,290 and later at $3,440. Support levels are $3,217 and $3,091.

Injective (INJ): The INJ/USDT pair has risen by 6.02%, now trading at $20.10. The first resistance level for Injective (INJ) is $21.39, followed by $22.94. Support levels are $20.09, with a deeper correction possibly bringing it to $18.49.

Ethena (ENA): The ENA/USDT pair has increased by 5.45%, currently at $0.7682. Resistance levels for Ethena (ENA) are $0.8117 and $0.9664. Key support areas are $0.7566 and, if further decline occurs, $0.6744.

Stellar (XLM): The XLM/USDT pair has gained 4.72% and is now at $0.4196. Stellar (XLM) faces resistance at $0.4595 and $0.4774, while support levels stand at $0.4137 and $0.3896.

Trending Coins

Over the last 24 hours, the most trending coins in the market include Alpha (ALPHA), Ice Open Network (ICE), and Mochi (MOCHI). The top gainers are JasmyCoin (JASMY), VeThor (VTHO), and SWFTCOIN (SWFTC), while the biggest losers are AI Rig Complex (ARC), MEOW (MEOW), and Onyxcoin (XCN).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, a notable $27.32 million liquidation level appears at $105,821. On the downside, a $30.51 million liquidation level is observed at $103,765.

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Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 3.72% in the last 24 hours, currently trading at $96,265. As previously analyzed, Bitcoin (BTC) rebounded from the $92,503 support and has experienced a significant upward movement. If this momentum continues, the next resistance level is $97,362. Key support levels are at $94,703 and $93,138.

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Ethereum (ETH): The ETH/USDT pair has gained 3.59% over the past 24 hours and is currently trading at $3,437. ETH’s resistance levels are first at $3,440, followed by $3,535. On the downside, support levels are at $3,290 and $3,217.

Stellar (XLM): The XLM/USDT pair has surged 25.45% in the last 24 hours, now trading at $0.43. XLM’s resistance levels are at $0.46, with the next at $0.477. Support zones are at $0.413, and in case of a deeper drop, $0.39.

Fantom (FTM): The FTM/USDT pair has increased 24.84% in the last 24 hours, trading at $0.849. FTM’s resistance levels are first at $0.863, followed by $0.923. Support levels are at $0.816, with deeper support at $0.776.

Render (RENDER): The RENDER/USDT pair gained 15.28% in the past 24 hours and is currently at $7.69. RENDER’s resistance levels are at $7.70, with the next at $8.00. Support levels include $7.51 and, if the drop deepens, $7.22.

Trending Coins

Over the last 24 hours, the most trending coins in the crypto market include ai16z (AI16Z), PHNIX (PHNIX), and Virtuals Protocol (VIRTUAL). The top gainers are Tokenize Xchange (TKX), Fartcoin (FARTCOIN), and Zerebro (ZEREBRO). On the other hand, the biggest losers include PHALA (PHA), Tokenize Xchange (TKX), and Moca Network (MOCA).

Bitcoin Liquidation Map

The 12-hour liquidation map for Bitcoin shows a significant upper liquidation at $96,953 with $22.52M. On the lower side, the largest liquidation stands at $94,160 with $48.32M.

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The rapid rise of Stellar (XLM) appears to be continuing. The nearest resistance level is currently around the $0.6550 region. If XLM manages to break through this resistance, a new all-time high (ATH) potential could emerge. However, if it fails to surpass this level and faces a rejection, correction movements could be observed.

Possible correction levels are as follows:

• The first support level is around $0.45. If this level is broken, a deeper correction could occur.
• The $0.35 level can be monitored as a stronger support point.

For the uptrend to continue, it is crucial for XLM to break through the $0.6550 level with significant volume and maintain above this region. Additionally, the general market sentiment and Bitcoin’s movements will have an impact on XLM. In addition to technical levels, fundamental factors (such as new partnerships, use cases, or macroeconomic developments) should also be monitored.

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The post XLM Coin Price Analysis: Stellar on the Rise! appeared first on Coin Engineer.

After facing resistance at $70,000 and retracing to $65,500, Bitcoin’s subsequent rise to $66,500 provided a much-needed boost to several altcoins. However, the standout performers in this recent rally may surprise you. XRP, TON, and KAS have been particularly impressive.

Ripple (XRP)
Despite ongoing SEC scrutiny, XRP surged by 8% in a short period. The major coin’s upward momentum continued even as Bitcoin’s price fluctuated, delighting investors. If the SEC discussions persist, we could see increased volatility in XRP.

Book of meme (BOME)
The strong memecoin trend has fueled demand for BOME. This memecoin, which gained 6% in the past 24 hours, secured the second spot on the list. If the memecoin craze continues, BOME could reach new heights.

Stellar (XLM)
Following XRP’s gains, XLM also saw a 3.70% increase in the past 24 hours. While XLM’s performance was relatively weaker compared to XRP, it outperformed the broader market. This popular altcoin claimed the third spot on the list.

Toncoin (TON)
Telegram’s popular play-to-earn games have continued to drive TON’s price. In particular, the growing popularity of Hamster Kombat has invigorated the TON ecosystem. TON rose 2.50% in the last 24 hours, securing the fourth spot.

Kaspa (KAS)
KAS, a significant player in the Turkish crypto ecosystem, gained 2.20% in the past 24 hours. This popular altcoin is poised to shine in the upcoming bull market as it continues its ascent towards its all-time high.

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The post 5 Altcoins Surging: Unexpected Leader Tops the List! appeared first on Coin Engineer.

According to Rwa.xyz data, the total value of tokenized bonds has increased from 719 million dollars at the beginning of the year to 1.45 billion dollars.

Tokenized bonds offer a variety of benefits for money market issuers and investors, such as liquidity management and blockchain-based management of real-world assets.

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These have gained popularity following the entry of BlackRock and Franklin Templeton into the market.

As of June 3, the largest share of the market is held by BlackRock USD Institutional Digital Liquidity Fund, with 462 million dollars. This fund, backed by US Treasuries, repo agreements, and cash, is represented by the BUIDL token on the Ethereum blockchain.

It is followed by Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) with 346 million dollars.

Ethereum plays the largest role in the tokenized bond market. The total value of Ethereum-based products is 1 billion dollars, while Stellar follows with 350.7 million dollars and Solana with 46.7 million dollars.

The post BlackRock-Led Token Market Value Surges 700 Million Dollars in Six Months appeared first on Coin Engineer.

Ondo Finance (ONDO), Pyth Network (PYTH), and Zetachain (ZETA) will be available for margin trading on both Coinbase International Exchange and Coinbase Advanced starting May 23, 2024, at 9:30 AM PT.

Expanding Margin Trading Services

Coinbase International Exchange, a margin trading platform for customers outside the U.S., had recently received approval from Bermuda to operate in September 2023. The exchange has been expanding its margin trading offerings, previously listing Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Stellar (XLM), Polygon (MATIC), Bitcoin Cash (BCH), Celestia (TIA), Injective (INJ), Sei (SEI), Aptos (APT), Filecoin (FIL), Sui (SUI), Polkadot (DOT), Internet Computer (ICP), and Near Protocol (NEAR) for margin trading.

Price Performance of Listed Altcoins

According to CoinGecko data, at the time of writing,

ONDO has gained 2.7% in the past 24 hours and is trading at $0.8933.

PYTH has decreased by 3.6% in the past 24 hours and is trading at $0.427.

Zeta is trading at $1.63.

The post Coinbase International Lists 3 New Altcoins for Margin Trading appeared first on Coin Engineer.

The Update was Postponed for About a Month! (Stellar)

In the announcements made in the last week of January, Stellar Development Foundation stated that it was necessary to postpone the “Protocol 20” update due to the bugs found. The update, a major upgrade to add Ethereum-style smart contracts, was postponed for about a month and executed yesterday, stating that “Protocol 20” is now available.

A New Era in Blockchain Technology!

Stellar Development Foundation announced the implementation of smart contracts in the Stellar network, which it claims will help launch a “new era” for blockchain technology.

In its announcement on February 20, 2024, it shared that the “Protocol 20” upgrade is completed, new smart contract features are activated and the smart contract platform named Soraban will be gradually made available.

Stellar smart contracts aim to provide a user-friendly developer experience using Rust and WASM languages.

Stellar’s Protocol 20 is officially live, bringing smart contracts to Stellar Mainnet!

We’ve laid the groundwork, hitting major milestones along the way; but this is just the beginning:

Phase 0⃣ for rock-solid stability
Phase 1⃣ for rigorous testing
Phase 2⃣ for… pic.twitter.com/Zq0FDYU6fd

— Stellar (@StellarOrg) February 20, 2024

The post Stellar Announces Implementation of Smart Contracts in the Network! appeared first on Coin Engineer.

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XLM is an open-source payment system that minimizes transaction costs and speeds up transactions. Stellar’s primary goal is to facilitate cross-border asset transfer between banks.

Stellar Core v20.1.0 Could Be Delayed!

The Stellar blockchain, which is expected to undergo a major upgrade to add Ethereum-style smart contracts, announced that there could be a delay due to a bug that has caused the developers behind the project to reconsider the scheduled January 30 date.

The Stellar Development Foundation, which supports the Stellar ecosystem, announced on Saturday that a bug was found in the Stellar Core v20.1.0 software on January 25. The bug is thought to theoretically affect applications and services in new Soroban smart contract transactions when the upgrade is rolled out.

Officials have determined that the bug poses low risk, but following feedback from the developer community, the foundation plans to disable its own validators to prevent the network from voting to approve the upgrade on January 30.

The post Stellar Foundation Recommends Delaying Upgrade appeared first on Coin Engineer.

Cardano (ADA)
Chainlink (LINK)
Dogecoin (DOGE)
Stellar (XLM)

The mentioned altcoins will start trading from 13:00 on November 30 (local Turkish time). Coinbase, had not been interested in the futures market for a long time. The company previously only served in the spot market. Coinbase International, launched for futures contracts, was created as a product mainly for outside the United States.

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In the field of cryptocurrency futures, users mostly resort to offshore exchanges such as Binance and Bybit. These exchanges offer more altcoin and trading pair options. Coinbase International is still in the stage of listing certain altcoins. Coinbase’s new altcoin listing seems to be part of the company’s efforts to increase its market share in the international market.

The Importance of the New Step for Coinbase Exchange

Coinbase’s new step is seen as a significant development in the cryptocurrency futures market. It is one of the largest cryptocurrency exchanges in the world, and the new altcoin listing will increase the company’s impact on this market. The reasons why the new altcoin listing by Coinbase is important are as follows:

Coinbase is one of the largest cryptocurrency exchanges in the world. Therefore, coinbase’s new altcoin listing will help these altcoins reach a wider user base. Coinbase used to only serve in the spot market. The company’s entry into the futures market will contribute to the growth of this market.

The listing of new altcoins by Coinbase will also increase competition in the cryptocurrency futures market. In addition to Coinbase, exchanges such as Binance, Bybit, and Huobi play a significant role in this market. These exchanges could extend their lists in response to Coinbase’s new altcoin listing.

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