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

Sep 6, 2023
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

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Reports you may have missed

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -1.98% falling to $60k and ETH -5.05% approaching the low $2,300s. Aptos (APT -0.62% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -11.91% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -1.98% climbing back above $61,000 and SOL -7.59% moving above $145, while ETH -5.05% is lagging, trading around $2,400. Among today's outperformers is SUI -8.93% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...

Sign in to read the report!

We have detected you are an active member!

Ray: D69BFB2B-CB29-4822-8210-61AE4C574528