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Justin Sun defends Trump token, says memecoin has legitimacy and value Justin Sun accepted an interview after attending a dinner hosted by Trump for TRUMP holders, saying that memecoin is a legitimate part of the crypto market and emphasizing that it "has value." He refuted the accusation that TRUMP tokens are considered "bribes," calling such views "short-sighted and misleading." Justin Sun pointed out that memecoins such as DOGE and SHIB have successfully helped users enter the circle, and Tron will continue to support the development of various segments of the crypto ecosystem. He believes that Trump's support for crypto is "one of his wisest decisions," representing the United States' positive shift in crypto innovation, and has also attracted companies that originally planned to move overseas to reconsider development in the United States. (CoinDesk)

🚨 🇺🇸 America's biggest banks are exploring a joint stablecoin initiative. Could this reshape how we move money? 🧐

Enjin Blockchain has added testnet support for stablecoins USDC and USDT, enabling their use within its NFT and gaming ecosystem via Hyperbridge. Stablecoins are heading to Enjin Blockchain, with USD Coin ( USDC ) and Tether ( USDT ) now live on Hyperbridge’s testnet in a move the team says will unlock cross-chain utility. The upgrade uses Enjin’s MultiToken Pallet, which supports the creation and transfer of many types of tokens, including stablecoins, the team said in a Thursday blog announcement. The pallet is part of Enjin’s Substrate-based blockchain architecture and underpins features such as the on-chain marketplace, NFT minting, and SDK/API access. The testnet setup lets users lock their USDC or USDT on Ethereum or BNB Chain, then Hyperbridge steps in to confirm the action and helps mint a matching stablecoin version — called a multitoken — on Enjin Blockchain. The team said that locking the original token in a Hyperbridge vault happens in a “decentralized, user directed manner,” adding that the process doesn’t involve Enjin’s apps or platforms and is fully managed by Hyperbridge smart contracts and relayers. The team said that once minted, the multitokens work just like any other token within the Enjin ecosystem, and noted that many games and platforms on Enjin Matrixchain already support NFTs and similar features. They added that the system is designed to maintain a 1:1 link between the original stablecoin and its multitoken version on Enjin. According to the team, both the locking and minting steps are publicly verifiable and can be audited. To get the original token back, users can burn their multitokens on Enjin, which triggers a reverse process to unlock the original asset. The new testnet support builds on Enjin’s broader push to grow adoption of its own blockchain, which launched in September 2023 as a custom network built on Polkadot’s Substrate framework. In December 2023, the team completed a major migration, moving 200 million NFTs to its mainnet to encourage usage of its network. The campaign allowed users to claim their assets on the Enjin Blockchain using an updated Enjin Wallet.

Bitcoin (BTC) charged to a new all-time high (ATH), breaking above $111,500 during Asian trading hours earlier today. This impressive climb marked a sudden and sharp rebound for the leading cryptocurrency after it initially dipped along with other risk assets. Bitcoin first hit around $109,600 when U.S. equity markets opened but then saw a brief downturn following news of a weak $16 billion 20-year U.S. Treasury auction. Despite that momentary pullback, Bitcoin mounted a swift V-shaped price recovery. Analysts are describing this current upward move as a “structurally stronger rally,” driven by growing institutional investor interest and positive shifts in the regulatory shifts. Market analysts are linking Bitcoin’s recent robust rebound to a couple of key developments: easing tensions in international trade policy and another wave of major inflows into spot Bitcoin exchange-traded funds (ETFs). Notably, Treasury Secretary Scott Bessent confirmed a 90-day pause in new import tariffs following successful negotiations with China, a move that has clearly reduced some macroeconomic pressure on the markets. The announcement followed a period of increased tariffs imposed by President Donald Trump, including a 10% base tax on all U.S. imports and additional surcharges targeting China. Investors have responded positively to these calmer trade winds. Spot Bitcoin ETFs attracted a hefty $329 million in net inflows over just the past 24 hours, according to fresh data from SoSoValue . Franklin Lacroix, director at SwissBorg, attributed the movement to “strong institutional inflows.” At the same time, Enclave Markets CEO Phil Wirtjes pointed to recent progress on stablecoin regulation in the U.S. Senate, contributing to buyer confidence. Related: Bitcoin Breaks Out of Range, Analysts Target $315K Peak The Bitcoin options market is also reflecting a renewed sense of optimism. After BTC dipped from its earlier high, activity shifted from put-side profit-taking towards more decidedly bullish positioning. In a notable sign of this sentiment, traders snapped up 1,000 contracts of the September $130,000 call option for Bitcoin, signaling a cost-effective strategy to bet on continued upside for the cryptocurrency. While front-end implied volatility remains elevated, hovering just below the 50v mark, analysts note it remains well-supported, especially given the current conditions of thin liquidity and relatively low open interest in some parts of the market. Furthermore, institutional demand continues to be a major engine behind Bitcoin’s current momentum. Underscoring this trend, a firm referred to as “Strategy” recently announced a $2.1 billion offering in 10% perpetual preferred stock, with the explicit intention of using the proceeds for additional Bitcoin purchases. This move highlights the significant scale of capital now entering the Bitcoin market from larger players. Related: Bitcoin Soars Past $103K as US and China Announce Tariff Cuts to 30% and 10% At the same time, the U.S. regulatory environment for cryptocurrencies appears to be growing increasingly favorable, particularly with ongoing discussions in Congress regarding comprehensive cryptocurrency oversight. Interestingly, Bitcoin’s current upward trajectory diverges from gold’s recent behavior. While Bitcoin has decisively entered price discovery mode by hitting its new ATH, gold recently stalled out at a lower high, trading near $3,300 per ounce. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

AI16Z/USDT Breakout Watch – High R:R Play! Spotted a bullish accumulation breakout pattern on the 2H chart for $AI16Z. Entry: Confirmed breakout above 0.3476 Targets: TP1: 0.3893 (+12.14%) TP2: 0.4553 (+30.84%) TP3: 0.5503 (+58.67%) Price consolidating above previous resistance – now turned into support. Volume increasing, structure looks primed for a clean breakout move. Risk well defined. Bullish confirmation in play. Patient execution ahead. Let the trend pay you.