SUI Leads Layer 1 Gains as TVL Crosses $1 Billion: News of September 25, 2024

SUI leads L1 gains as TVL crosses $1bn

As the Grayscale Sui Trust opened up to accredited investors, SUI’s daily trading volume surged past $800 million. On-chain activity has also shown strength, with TVL reaching $1.15 billion — a 377% increase year-to-date and a 47% rise month-to-date. The DeFi protocols driving this growth include: Navi Protocol (TVL: $439M, MTD growth: 54.67%) Scallop (TVL: $233M, MTD growth: 30.69%) SuiLend (TVL: $198M, MTD growth: 89.27%

Altcoin market cap close to breaking downtrend

The Total Altcoin market cap is breaking above the trendline and reclaiming the 0.25 resistance. 

If we can print a higher high now, things will get wild.

Solana Memecoin $POPCAT (@POPCATSOLANA) Reaches Billion-Dollar Milestone

The popular Solana-based memecoin $POPCAT has officially become a billion-dollar sensation. 🚀 With its rapid growth, this feline-themed token is now making waves in the crypto world, showing that even memes can pack serious value. 

$8.1bn BTC options to expire this week

Here are the four most likely scenarios based on current price trends for Bitcoin options expiring on Sept. 27:

$57K-$58K: Puts (sell) gain by $250M.

$58K-$60K: Calls and puts are balanced.

$60K-$62K: Calls (buy) benefit by $550M.

$62K-$64K: Calls profit by $1B.

Bears need to push Bitcoin below $60K to avoid a $550M advantage for calls. However, with supportive macro conditions, the odds favor the bulls.

SOL took most of ETH outflows over last 3 months

In the past three months, this blockchain has outpaced all others combined, boasting a total net inflow of $988 million. Its growing dominance highlights increasing investor confidence and momentum within the ecosystem.

That’s all for today. In the various market conditions, you can trade on Bitsgap.