Sanctum (CLOUD) Surges 28% as Bybit Launches bbSOL Powered by the Protocol

Top cryptocurrency performers on August 28, 2023, according to the CC Top Performers List, with CLOUD emerging as the daily top performer.

The S&P 500 (SPX) index experienced minimal movement on August 28, with a slight decrease of 0.004%. This lack of significant change comes despite broader activity in the stock market. Investors are now awaiting key data from the PCE price index, which is the Federal Reserve's preferred measure of inflation, to assess the likelihood of future interest rate cuts.

Over the past 24 hours, the broader cryptocurrency market has also seen varied performance. Bitcoin (BTC) has experienced a rise of 0.65%, while Ether (ETH) has seen a slight drop of 0.01%.

Today's Top Cryptocurrency Performers

The CC Top Performers List showcases the top-performing cryptocurrencies over the last 24 hours, highlighting those that have experienced substantial漲幅. These涨幅 are calculated based on the percentage change in the coin's price from the previous day.

Rank Coin 24涨幅

1 CLOUDUSDT Perp 28.04%

2 KAVAUSDT Perp 17.17%

3 KSMUSDT Perp 14.93%

4 GMTUSDT Perp 13.98%

5 LDOUSDT Perp 12.97%

6 UNIUSDT Perp 11.76%

7 MATICUSDT Perp 11.67%

8 SANDUSDT Perp 11.66%

9 IMXUSDT Perp 11.58%

10 KSMUSDT Spot 11.49%

CLOUD, the daily top performer, surged by 28% following the announcement of Bybit launching bbSOL, which is powered by Sanctum (CLOUD).

Launched in 2024, Sanctum is a pioneer in next-generation liquid staking infrastructure on the Solana blockchain. It introduces a multi-LST liquidity pool, offering virtually limitless liquidity for Solana-based liquid staking tokens (LSTs). Sanctum also features an instant unstake function and a native governance token, CLOUD, which facilitates seamless liquidity provision and token swaps across Solana's ecosystem.

This protocol aims to enhance the staking process on Solana by addressing challenges like slow unstaking times and network congestion. Recently, Bybit has announced that they are using Sanctum to create their own SOL LST known as bbSOL.

Kaia Mainnet Launch, Bitcoin Spot ETF Flows

Kaia, a Layer 1 blockchain resulting from the merger of Klaytn and Finschia, has launched its mainnet with support from LINE NEXT to accelerate Web3 adoption in Asia.

The Kaia mainnet went live on August 29, offering the world's fastest EVM blockchain with one-second finality and ultra-low gas fees. It aims to solve Web3 UX and distribution challenges by integrating with popular Asian messaging apps like LINE and Kakaotalk.

The Kaia Wave builder program will provide up to $1.2M in support for developers, aiming to create a thriving Web3 ecosystem across DeFi, gaming, and messenger apps.

The Bitcoin Spot ETF category experienced a total outflow of $58.3 million on August 28, with $22.7 million from GBTC and $35.6 million from non-GBTC sources.

Category Flow (millions)

GBTC (22.7)

Non-GBTC (35.6)

Total (58.3)

Yesterday, the BTC Spot ETF category experienced a total outflow of $58.3 million, with $22.7 million from GBTC and $35.6 million from non-GBTC sources.