High-risk cryptocurrency trader James Wynn is making a U-turn with his Bitcoin gamble. After closing his $1.2B BTC long position, the Hyperliquid trader has opened a new $111 million Bitcoin short with a liquidation price at $149,100. James Wynn Bets Against A Bitcoin Rally With $111 Million Short James Wynn has rocked the ecosystem with a $111.8 million short position on 1,038 BTC hours after closing his previous long position. According to an X post by Whale Insider, the Hyperliquid high-risk trader faces liquidation at $149,1000 with a 40X leverage. The perpetual futures trade follows the closing of a $1.2 billion Bitcoin long position over the weekend. James Wynn faced liquidation at $105K, with experts like CrediBULL Crypto betting against the high-risk trader. Barely 24 hours ago, James Wynn predicted Bitcoin price to climb as high as $121,000, setting a new all-time high this week. However, the new short position… Read More at Coingape.com
On August 4, 2025, WEEX, a leading cryptocurrency exchange successfully completed its second-quarter burn of WEEX Token (WXT), in line with its token burn schedule. The total amount burned was 60,509,555 WXT, representing approximately 0.61% of the token’s total supply, valued around 2 million USD at the time of burning, reflecting the continued commitment of WEEX to its long-term growth and tokenomics structure.
The Burn Continues: WEEX’s Strategic Token Burn Schedule
WEEX conducted its first-ever token burn on January 31, 2025, burning a significant 4,000,000,000 WXT (40% of the total supply). Moving forward, the company plans to conduct quarterly burns, typically completed at the start of each quarter. WEEX will allocate 20% of its quarterly profits from trading fees, including futures and spot trading, listing charges, and other sources, to buy back and burn WXT tokens, reinforcing its commitment to creating a deflationary mechanism for the token.
Unlocking Value: The Benefits of Holding and Burning WXT
As the platform’s native token, WXT enhances user engagement and loyalty, driving WEEX’s growth and competitiveness by offering exclusive benefits, reducing trading fees, and incentivizing long-term holding. WXT holders will be eligible for periodic airdrops of new tokens, boosting their exposure to new profiting opportunities. The amount of WXT held will also influence a user’s VIP status, offering more exclusive privileges and lower trading fees. Additionally, trading agents who hold WXT tokens will receive higher profit-sharing rates, incentivizing active participation in the platform.
The WXT token burn mechanism serves as a key element of WEEX’s growth strategy, reducing the token supply to support long-term value appreciation. Since its launch at $0.01 in August 2023, the price of WXT has skyrocketed by 340%, reaching $0.034 at the time of writing, reflecting increasing market confidence. In alignment with platform revenues, a positive cycle is formed that not only rewards loyal users but also fosters sustainable growth for both the platform and the token’s value.
A Vision for the Future: WEEX’s Path to Global Market Leadership
WEEX has achieved significant milestones so far in 2025, including expanding its global team to over 500 members, establishing an international studio in Dubai, and securing a BSP license. Leveraging these strategic moves and its market leading futures liquidity, WEEX aims to reach over 10 million global users and exceed $10 billion in daily trading volume, positioning the platform for continued growth and success. The WXT burn program plays a vital role in this vision, creating a healthy ecosystem that benefits both the platform and its beloved users.
About WEEX
Founded in 2018, WEEX has quickly emerged as a global leader in cryptocurrency trading. With an extensive selection of trading pairs, cutting-edge features like WE-Launch, and partnerships with global icons like Michael Owen, WEEX continues to redefine the trading experience for millions worldwide.
A promising Layer 2 protocol called Solaxy ($SOLX) has captured attention by raising an impressive $26.8 million during its ongoing token sale.
In the same way that L2s such as Base have improved Ethereum’s throughput, Solaxy now promises to do the same for Solana, speeding up transactions and stopping network congestion.
Solaxy’s stunning presale, which is still ongoing, shows strong investor confidence in the project’s vision to help Solana maintain its position in the cryptocurrency world.
Technical Innovation Behind Solaxy Excitement
Blockchain networks face an ongoing challenge of balancing security, decentralization, and transaction throughput.
Despite Solana’s impressive processing capabilities compared to many competitors, periods of intense network activity (such as when $TRUMP launched) still create bottlenecks, resulting in delayed confirmations and occasional transaction failures.
Solaxy approaches this challenge through an architecture that processes transactions outside the main chain before bundling them together.
These streamlined validation mechanisms maintain security while improving speed, and reduce transaction costs across Solana.
This means Solaxy can help unlock Solana’s full potential, potentially creating billions in new economic value across the ecosystem.
Market Position And Investment Opportunity
With Solana currently valued around $65 billion, and Solaxy in its pre-launch phase, astute investors may recognize the potential value disconnect. Early participants can secure tokens at $0.001666, though this entry price increases in the next 24 hours as the offering advances.
Beyond potential price appreciation, the project offers a staking program currently yielding 152% annually, providing immediate benefits to participants. This rate will naturally decrease as more tokens enter the staking pool.
Cryptocurrency platform 99Bitcoins, with its 700,000+ YouTube subscriber base, recently featured Solaxy in its coverage. Analyst Umar Khan expressed particularly bullish sentiment, describing it as a “Solana gem” with the potential to multiply investment 100 times following its market debut.
This coverage from a respected industry voice provides the project with credibility and visibility, demonstrating its ability to resonate with serious cryptocurrency analysts.
Solaxy Arrives as Excitement Grows Around Solana
After months of turbulent price action, cryptocurrency markets appear to be stabilizing. Solana specifically has posted a modest 1.4% gain over the past week, holding firmly at the psychologically important $125 level.
This price zone carries special significance as it marked the exact support level before Solana’s previous surge to its all-time high of $294.33 in January. Technical analyst Crypto Patel has identified this as “strong support” that could potentially launch Solana toward $500 as market conditions improve.
This stabilization is already benefiting Solana ecosystem projects, with Render and Bonk up 8% this week while Helium has grown 22%.
Given Solaxy’s targeted approach addressing a core infrastructure need and its relatively smaller market capitalization, the project appears uniquely positioned to outperform even these impressive gains during the next market cycle.
For those interested in the token offering, Solaxy provides multiple ways to get involved. Participants can use Solana-compatible wallets, Ethereum-compatible wallets, or direct credit card purchases.
The process begins at the official Solaxy website, where you select your investment amount and preferred payment method. After the presale concludes, tokens are available for claiming.
Regarding security concerns, the project has completed a comprehensive audit through Coinsult, which found no vulnerabilities or issues in the codebase, providing additional confidence for potential participants.
As Solana’s ecosystem continues expanding, Solaxy represents an infrastructure improvement that could dramatically enhance the network’s capabilities.
The post Solaxy is Solana’s Rising Star as L2 Protocol Raises $26M: Best Crypto Presale? appeared first on Coinpedia Fintech News
A promising Layer 2 protocol called Solaxy ($SOLX) has captured attention by raising an impressive $26.8 million during its ongoing token sale. In the same way that L2s such as Base have improved Ethereum’s throughput, Solaxy now promises to do the same for Solana, speeding up transactions and stopping network congestion. Solaxy’s stunning presale, which …
China is set to approve the development of the first Yuan stablecoin for internal and external use. According to a report by the Financial Times, China has continued to use Hong Kong as its testbed for cryptocurrency and blockchain products.
After years of curtailing the development of Yuan-backed stablecoins, the Chinese Communist Party (CCP) is keen to explore their feasibility. Furthermore, Tether once attempted the development of an offshore Chinese Yuan (CNH) dubbed CNHT stablecoin in 2018, but it failed to take off.
China’s Stablecoin Bid to Rival U.S. Dollar Dominance
The stablecoin market cap has grown exponentially over the years to reach a record valuation of about $275 billion at the time of this writing. The USD stablecoins, led by Tether’s USDT, have a net valuation of around $271 billion.
The measures made by the United States government to keep the USD a global reserve currency have paid off significantly. As Coinpedia reported, the enactment of the GENIUS Act has enabled more corporations to explore the development of USD stablecoins.
In June this year, Pan Gongsheng, China’s central bank governor, announced that any Stablecoin development in the country must adhere to the country’s specific conditions. Furthermore, China has already implemented its Central Bank Digital Currency (CBDC), which has been under heavy government control.
To begin with, the Chinese government will allow the development of stablecoins through Hong Kong, which has been the country’s crypto testbed since banning operations in mainland China.
Market Impact
The gradual re-opening of the Chinese market to the crypto market and the blockchain technology will have a significant impact in the near future. Notably, China has over the years allowed its citizens to hold crypto assets but not trade, a legal nuance that is expected to change ahead.
Global web3 companies will proliferate into Hong Kong to obtain an operating license. The ultimate impact will be an expedited mainstream adoption of digital assets and blockchain technology.
The post China To Permit Launch of the First Yuan Stablecoin to Rival U.S. Dominance appeared first on Coinpedia Fintech News
China is set to approve the development of the first Yuan stablecoin for internal and external use. According to a report by the Financial Times, China has continued to use Hong Kong as its testbed for cryptocurrency and blockchain products. After years of curtailing the development of Yuan-backed stablecoins, the Chinese Communist Party (CCP) is …
