News

Odaily reported that the native stablecoin of the Sui blockchain, Sui Dollar (USDsui), was launched today. This stablecoin is issued by Bridge, a stablecoin company acquired last year by payment giant Stripe, and the yields generated from its underlying assets will be returned to the Sui ecosystem. Adeniyi Abiodun, co-founder of Mysten Labs, stated that the yields from bonds and liquid assets supporting USDsui will be used to buy back and burn SUI tokens, or deployed to decentralized finance (DeFi) protocols and automated market makers to incentivize trading. This contrasts with the mainstream stablecoin issuers such as Tether and Circle, who retain all the profits.

Odaily reported that, according to Onchain Lens monitoring, a certain whale has closed their ETH short position. It is reported that this position was opened within the past 24 hours, and the closing resulted in a loss of over $1.529 millions. Currently, all funds in the wallet have been fully withdrawn.

BlockBeats News, March 4th, according to Coinglass data, Bitcoin staged a strong rebound, surging above $71,000. Currently, the funding rates on major CEXs and DEXs have turned positive, approaching neutrality as short sentiment has significantly eased. The specific funding rates for major coins are shown in the attached image. BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a funding exchange mechanism between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.