MetaMask Adds Off-Ramp Feature, Coinbase Enters the Institutional Lending Market

Market Update Markets are falling today in response to higher-than-expected non-manufacturing PMI data (54.5 actual vs. 52.5 expected). The S&P 500 and Nasdaq 100 have both dropped over 1% while the DXY (+0.19%) continues its rise, briefly surpassing $105, the highest level since March. $BTC and $ETH are following equity markets, both falling approximately 1.10% at the time of writing. Synthetix Network ($SNX), a defi liquidity layer, is one of the top weekly performers, rising 17.8% as excitement over Synthetix V3 has begun to circulate. According to DefiLlama, Synthetix has seen an approximate $100 million increase in TVL since the beginning of September, likely contributing to the token’s appreciation.Crypto wallet provider MetaMask is rolling out a new feature within their portfolio management product called “Sell”. Sell will enable users to quickly convert digital assets to fiat and cash out to their bank account or PayPal balance. The Sell feature is currently available to U.S., U.K., and some European customers but will eventually be added for more regions. Additionally, the only conversion currently supported is Ether on the Ethereum network to USD, EUR, or GBP. MetaMask is working with various crypto off-ramps, such as MoonPay and Transak, to offer its custome