Lombard Babylon and Cubist Integrate LBTC with Sui to Unlock Bitcoin's DeFi Potential

Daily Top Performer — Grass Network (GRASS)

The S&P 500 rose 0.3% on optimism over Trump’s Treasury pick, but futures dipped Tuesday on his proposed 25% tariffs on Mexico and Canada. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 1.59%, with Bitcoin dropping by 2.09% and Ether rising by 2.67%, in the past 24 hours.

Today's top performer is GRASS, which surged 13.5% following the launch of Kamino's $GRASS-SOL Liquidity Vault for automated yields and Solana DeFi growth.

Grass Network (GRASS), founded in 2023, is a decentralized network on the Solana blockchain that converts unused internet bandwidth into a resource for collecting and structuring public web data for AI development. Kamino Finance has launched the $GRASS-SOL Liquidity Vault, allowing users to earn automated yields by depositing GRASS or SOL. The vault automatically compounds trading fees and rebalances positions to optimize earnings. However, users may face impermanent loss if SOL and GRASS prices diverge. Kamino provides an analytics interface to track performance and encourages users to review risk considerations. This initiative supports the adoption of new assets in Solana's DeFi ecosystem.

Check Out the Latest Prices, Charts, and Data of GRASSUSDT Perp and GRASS/USDT Spot Contracts!

Talk of the Town

Lombard, Babylon, and Cubist are partnering to bring Bitcoin to the Sui blockchain, introducing LBTC, Lombard’s liquid-staked Bitcoin, to Sui’s decentralized finance (DeFi) ecosystem. This collaboration allows Bitcoin holders to unlock liquidity and yield from their BTC while maintaining control of their assets. LBTC, already successful on Ethereum, will now enable Bitcoin to serve as collateral in DeFi applications on Sui. Cubist will provide secure infrastructure for minting LBTC, while the Sui Foundation supports the initiative. This move aims to unlock Bitcoin’s potential, offering a secure, liquid asset for DeFi innovation on Sui.

Check Out the Latest Prices, Charts, and Data of SUIUSDT Perp and SUI/USDT Spot Contracts!

Bitcoin Spot ETF Flows

Yesterday, BTC Spot ETFs recorded total outflows of $703.1 million, including $158.2 million from GBTC and $544.9 million from non-GBTC funds.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot Contracts!

Airdrop to Watch

Swan Chain announced the $SWAN token launch (TGE) for December 2024 and a new quest with separate rewards launching this week.