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Stacks’ sBTC token sees increasing adoption

Stacks, the leading Bitcoin ( BTC ) Layer-2 ( L2 ) network for BTC-oriented decentralized finance ( DeFi ), has announced that its sBTC token has been adopted by a number of institutional clients, as detailed to Finbold on Thursday, February 27. sBTC’s next major milestone will be the launch of its withdrawal functionality, which is scheduled for March 2025. sBTC adoption As a decentralized, Bitcoin-backed, programmable asset, sBTC is designed to bring additional flexibility to the BTC ecosystem. Early sBTC adopters included UTXO, SNZ, Jump Crypto, Sypher Capital, and Asymmetric Research, all part of the initial deposit cap. The rapid demand for sBTC soon led to a second cap raise, tripling the deposit capacity. Fully subscribed within just 24 hours, the second cap signaled a surge in interest among all kinds of investors, most notably Zest Protocol, which has so far accumulated nearly 40% of the total sBTC in circulation. The growing demand for tokenized Bitcoin assets The demand for tokenized Bitcoin assets continues to grow as more and more Bitcoin holders realize that L2 networks like Stacks can offer both innovative solutions and core security of Bitcoin. According to the Bitcoin Builders Association, tokenized Bitcoin has reached 1.67% of the current BTC supply, statistics not matched since October 2022. What sets sBTC apart from other tokenized assets is its versatility, that is, its ability to enable flexible smart contracts and transactions without compromising the security and immutability characteristic of “digital gold.” The rise of Bitcoin Layer 2 solutions L2 BTC has been one of the most significant trends in the cryptocurrency space over the past year. Data published by DeFiLlama suggest that the total value locked (TVL) in Bitcoin L2 networks has increased by over 460% (from ~$500 million in 2024 to ~$2.8 billion in February 2025). This surge reflects the increasing demand for L2 solutions that enable greater BTC functionality. Given how close sBTC is to Bitcoin, and given its adoption by some of the most influential players in the industry, including ecosystems like Solana ( SOL ) and Aptos ( APT ), sBTC could become a key to ensuring the demand for Bitcoin assets remains steady. The post Stacks’ sBTC token sees increasing adoption appeared first on Finbold . CoinOtag

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Pumpfun Continues to Make Big Moves in the Crypto Market, Depositing Over $485 Million in $SOL to Kraken

Strategically managing its cryptocurrency assets, the entity known as Pumpfun (@pumpdotfun) has made another substantial deposit of 87,787 $SOL , valued at around $12.58 million, to the Kraken exchange just nine hours ago. This latest deposit pumps even more Solana ($SOL) into the already bulging coffers of Pumpfun, which, over the first two months of 2025 alone, has deposited an eye-watering $260 million worth of Solana tokens onto the Kraken exchange. Why this matters: Pumpfun, a major player in the crypto market, just sent an unmistakable reminder of the kind of presence it has in the not-so-recently releasable market of Solana. Pumpfun’s Large-Scale Strategy: A Focus on $SOL Deposits and Market Movements Pumpfun’s involvement in the cryptocurrency world has been anything but idle. In 2025 alone, it has pushed 1.323 million $SOL ($260 million) into Kraken, for an average price of $196.35 per $SOL. That price, though, is above both Solana’s current price as well as where it’s been trading most of the past few months. And while Solana has been one of the better-performing assets within the crypto space of late, it’s still a pretty volatile asset overall. So to the extent that what is being oh-so-clearly plotted by Pumpfun can be called a “strategy,” it seems to be a “strategy” of bullishness on Solana. The deposits are part of a broader pattern of market engagement, as Pumpfun has now accumulated a stunning total of 2,433,286 $SOL on the Kraken platform. Depositing these quantities of tokens into the Kraken platform is part of engaging with the market and shows a staggering commitment to the Solana ecosystem. By consistently accumulating Solana tokens at strategic price points, Pumpfun has positioned itself as a key market player likely influencing Kraken’s liquidity and trading conditions. Pumpfun’s Strategic Sales and Impressive Profits A large part of Pumpfun’s attention has been dedicated to amassing a significant position in $SOL, an entity with substantial holdings. Nevertheless, Pumpfun has also shown an ability to take profits when necessary. Indeed, Pumpfun has sold, to date, 264,373 $SOL for 41.64 million $USDC at an average price of $158 per $SOL. This sale strategy further reinforces Pumpfun’s tactical market approach, as it has managed to lock in profits while navigating market fluctuations. Selling part of its $SOL stake for $158 per token was probably a move based on current market conditions that took advantage of a short-term trading opportunity. That trade generated liquidity in the form of stablecoins, like $USDC (which is backed 1:1 by U.S. dollars and is used as a proxy in the crypto world for cash). The trade also reduced the potential exposure to downside risks—$SOL has dropped to around $35 in recent weeks—and it gave Pumpfun Capital more flexibility in future trades and investments by structuring its balance sheet in a way that’s better suited to a presumably more volatile second half of 2022. These tokens have proved to be profitable for Pumpfun, but the entity does have a long-term value creation strategy that seemingly calibrates it toward the next bull market. That said, with deposits coming in and sales being made, the Solana Foundation has amassed a total of 2,994,243 $SOL, worth some $426 million. This places both the Solana Foundation and Pumpfun in strong positions to keep influencing the market, with moves that range from making it look like the next bull market is coming to using their accumulation of Solana to fund-round health secures. Pumpfun( @pumpdotfun ) deposited 87,787 $SOL ($12.58M) to #Kraken again 9 hours ago. So far, #Pumpfun has deposited 2,433,286 $SOL ($485.7M) to #Kraken at $200 and sold 264,373 $SOL for 41.64M $USDC at $158. #Pumpfun has earned a total of 2,994,243 $SOL ($426M).… pic.twitter.com/DC6XBEhu2n — Lookonchain (@lookonchain) February 26, 2025 The Bigger Picture: Pumpfun’s Role in the Solana Ecosystem The Solana ecosystem does not overlook Pumpfun’s investments and strategic decisions. Pumpfun is one of the lead holders and active players in the $SOL market. And as with any good player in a market, Pumpfun’s activity serves to better provide liquidity and price discovery for $SOL. Those are good things for any asset, and especially for one that is gated by a $60 million capital reserve in the asset’s more recent price history. In addition, as the Solana blockchain keeps developing and drawing the attention of investors, developers, and users, Pumpfun’s commitment to the network can help boost its long-term viability and legitimacy. The company’s hoarding of over 2.4 million $SOL tokens shows a level of confidence in the future of Solana, even given the kind of volatility that crypto in general seems to be working through these days. Pumpfun’s ability to navigate the Solana market with success reflects a deeper comprehension of market trends, price movements, and the accumulation of assets. They have strategically deposited $SOL into Kraken; sold tokens at optimal price points; and amassed a variety of assets—some of which are likely to be held for long-term growth. Increasingly, Pumpfun is proving itself as a force to be reckoned with in the world of decentralized finance. Looking Ahead: What’s Next for Pumpfun and $SOL? While Pumpfun remains to be seen how its strategy will unfold in the coming months, it is continuing to deposit significant amounts of $SOL into Kraken and is closely watching market conditions. The total amount of $SOL held by the entity is now nearly $485.7 million, and whatever it does next could have a serious impact on $SOL—and not just $SOL. On to $SOL, then. With its large holding in Solana and its active participation in the crypto market, Pumpfun is likely to remain a prominent figure in the cryptocurrency space. The outcome of its Solana-related activities may well be influential, both within the Solana ecosystem and in the broader cryptocurrency market. It’s a good case study for how large investors are dealing with the much-discussed, uncharted territory of cryptocurrencies. To sum up, Pumpfun’s strategic way of operating in the Solana ecosystem—together with its market maneuvers—clearly demonstrates that it understands the crazy world of cryptocurrencies very well, indeed. Pumpfun has invested an impressive amount of money in Solana—some say it could be as much as in the tens of millions—at various cleverly chosen points over time; it has also realized some equally impressive sales. Thus, our old friend the crypto market looks like it will continue to be influenced by Pumpfun in fairly obvious ways. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: peshkov / 123RF // Image Effects by Colorcinch CoinOtag