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Sui expands DeFi utility with USDsui, a native dollar-pegged stablecoin designed to boost on-chain liquidity and app integration.
Cardano whales accumulate $204 million worth of ADA, signaling long-term confidence despite a choppy market and 1% daily decline.
Institutional momentum grows as Winklevoss Capital funds a $58 million Zcash treasury.
The crypto market is witnessing key developments this week. From Sui’s launch of USDsui, a native US dollar-pegged stablecoin, to Cardano’s whale accumulation, Zcash’s new institutional backing, and Taiwan’s proposal to build a Bitcoin reserve, the digital asset landscape continues to evolve rapidly.
Sui has unveiled USDsui, a native stablecoin pegged to the US dollar, aimed at fueling on-chain liquidity and DeFi functionality.
Issued through Bridge’s Open Issuance platform, USDsui will integrate seamlessly with wallets and protocols, including MetaMask, Phantom, and Hyperliquid, creating a foundation for decentralized payments and lending.
By issuing the stablecoin natively, Sui aims to retain value within its ecosystem and enhance transparency by maintaining direct control of reserves.
The SUI token traded near $1.99, down 2%, with analysts identifying $2.50 as a critical breakout level toward $3-$5, provided support at $1.90 holds firm.
Cardano (ADA) dropped 1% to $0.57, but on-chain data from Santiment reports that whales and sharks purchased 348M ADA worth about $204 million in the last week.
Open interest in futures has increased to $680 million showing traders still expect a potential price bounce despite weakness in the spot price.
Analyst Ali Martinez expects a retest of the $0.50 support zone before price goes towards a move up to $0.70 and assumes that support level holds.
This accumulation trend shows confidence in the longer-term outlook of Cardano fundamentals, while sentiment remains cautious in the short term.
Winklevoss Capital has invested $58.88 million into Cypherpunk Technologies, formerly Leap Therapeutics, to build a Zcash (ZEC) treasury.
The firm has already purchased 203,775 ZEC, about 1.25% of the total supply, and plans to accumulate up to 5%.
Cypherpunk’s CEO, Douglas E. Onsi, said the goal is to create “long-term shareholder value” through active participation in the Zcash ecosystem. At present, ZEC trades near $507, up 15% daily after rebounding from a 40% correction.
Gemini co-founder Tyler Winklevoss called Zcash “encrypted Bitcoin,” asserting it preserves self-sovereignty in an increasingly surveilled digital age.
Taiwan has announced plans to explore a national Bitcoin (BTC) reserve using seized cryptocurrency holdings.
Legislator Dr. Ju-chun Ko and Samson Mow’s JAN3 group presented the proposal to the Central Bank of Taiwan, suggesting a six-month feasibility study and pilot program.
The reserve would complement Taiwan’s $600 billion in foreign-currency holdings and 432 tonnes of gold, positioning BTC as a hedge against fiat volatility.
Globally, government entities now control about 644,000 BTC, largely from enforcement seizures, while nations such as El Salvador and Bhutan are accumulating deliberately.
According to Sosovalue data, US spot Bitcoin ETFs recorded $277.98 million outflow on November 12, marking one of the largest daily net withdrawals in weeks.
No ETF reported inflows during the session, reflecting short-term profit-taking amid macro uncertainty.
The Fidelity FBTC fund saw the largest outflow of $132.86 million, while ARK Invest’s ARKB recorded $85.18 million.
Cumulative ETF assets now total $135.81 billion, representing 6.67% of Bitcoin’s market cap, with historical net inflows still exceeding $60.21 billion.
Also Read: What is Bitcoin and Why Was it Created?
Bitwise advanced its plans for the first-ever Chainlink ETF (CLNK) after the fund appeared on the DTCC listings under “active” and “pre-launch” status.
Although SEC approval is still pending due to the US government shutdown, DTCC listings typically precede final authorization.
If approved, CLNK would provide investors with regulated exposure to Chainlink’s oracle network, marking a key milestone for utility-driven crypto assets.
Despite the announcement, LINK fell 5% to $15.52 after failing to hold above $17.40 resistance. Technical indicators remain neutral, with the next support near $13.90.
Also Read: Can Ethereum Break $4,000 as Holders Return to Profit?
1. What is USDsui, and why did Sui launch it?
USDsui is Sui’s native US dollar-pegged stablecoin, launched to support ecosystem liquidity and reduce reliance on external stablecoins.
2. Why are Cardano whales buying ADA?
Large holders added $204 million in ADA, showing faith in Cardano’s fundamentals and expecting a rebound toward $0.70 if $0.50 support holds.
3. What role do the Winklevoss twins play in Zcash’s growth?
Winklevoss Capital invested $58 million in Cypherpunk Technologies to build a ZEC treasury, betting on Zcash’s privacy-driven potential.
4. What’s behind Taiwan’s Bitcoin reserve plan?
Taiwan aims to convert seized BTC into an official national reserve to diversify holdings and hedge against fiat volatility.
5. Why did Bitcoin ETFs see $278M in outflows?
Profit-taking and macroeconomic caution led to net withdrawals across all 12 US spot ETFs, despite $135 billion in total managed assets.
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