ARK Invest and Glassnode published a joint study on Sept. 1 that found three entities could cross the measured block-production thresholds for both Bitcoin and Ethereum, while Solana required 19.
Summary
Bitcoin reaches its 51% hash-rate threshold through three mining pools, according to the joint report. Ethereum requires three staking entities to exceed 33%, although pooled delegation complicates direct control assumptions. Solana’s Nakamoto coefficient is 19, but nearly all measured infrastructure operates inside commercial data centers. Bitcoin’s infrastructure is comparatively dispersed, with 63% of measured nodes operating anonymously through Tor networks. Ethereum hosts roughly 49% of execution-layer nodes in clouds, including 20% through Amazon Web Services. The 32-page report, titled The Decentralization Spectrum: Design Tradeoffs in Digital Assets, compares the networks across ownership, exit fluidity, verification costs, critical resilience, reconstruction costs and infrastructure distribution.
The findings do not mean three companies control Bitcoin or Ethereum. The metric counts mining pools and staking platforms as entities, even when the underlying hardware, stake or node operators belong to separate participants who may withdraw or redirect their resources.
Bitcoin’s three-pool threshold does not equal ownership The report applied a 51% hash-rate threshold to Bitcoin. Foundry USA represented 27.27% of the measured hash rate, followed by AntPool at 17.06% and F2Pool at 16.96%. Together, the three pools exceeded 61%.
This produced a Nakamoto coefficient of three, defined as the minimum number of measured entities needed to cross a network’s critical production threshold. ViaBTC controlled another 9.50%, while SpiderPool represented 5.82%.
Mining pools coordinate block construction and distribute rewards, but they do not necessarily own the machines producing their hash rate. Independent miners connect to pools to receive steadier income and can redirect their computing power elsewhere.
That mobility limits how closely pool concentration can be equated with permanent control. The report estimated a Bitcoin miner could switch a 1% hash-rate position in approximately 29 seconds. A coordinated attack or censorship attempt could prompt participants to leave the responsible pools.
Pools still influence transaction inclusion and ordering because they usually provide the block templates miners use. Pool concentration therefore represents an operational risk, even if it overstates the concentration of underlying mining ownership.
The issue is not new. Earlier crypto.news reporting found that two mining pools produced a majority of sampled Bitcoin blocks in late 2022. Pool shares have changed since then, but production continues to be concentrated among several large coordinators.
Ethereum crosses a lower threshold through pooled stake ARK and Glassnode applied a 33% stake threshold to Ethereum because participants controlling one-third of staked ETH can disrupt finality. This differs from Bitcoin’s 51% majority threshold, so the two coefficients do not describe identical powers.
Lido represented 23.04% of staked ETH in the report’s July data. Binance controlled 8.88%, and Kraken held 6.91%. Those three entities collectively represented approximately 38.8%, taking Ethereum above the selected threshold.
Lido is not a single validator. It distributes stake among multiple node operators, although those operators participate through a common protocol and governance framework. The report therefore treats Lido as shared infrastructure that aggregates economic weight rather than one machine or company directly controlling every validator.
Ethereum’s exit mechanics also restrict validator mobility. The report estimated that exiting a 1% position would take around 14.6 days under current conditions and as long as 55.6 days under heavy congestion. That is much slower than redirecting Bitcoin hash rate.
Client diversity provides another layer of resilience. The study placed Geth’s execution-client share at 34.88%, followed by Nethermind at 26.96% and Reth at 18.98%. Lighthouse represented 54.16% of consensus clients.
Different clients independently implement Ethereum’s rules, reducing the portion of the network exposed to one software defect. The relationship between Ethereum nodes and their software clients means validator concentration alone cannot describe the network’s full failure risk.
Solana’s 19-validator result comes with infrastructure costs Solana recorded the highest Nakamoto coefficient for the selected block-production threshold. The report found that 19 validators were needed to control more than 33% of delegated stake.
Figment was the largest individual validator at 3.78%, followed by Helius at 3.69%, Jupiter at 2.91%, Binance Staking at 2.81% and Ledger by Figment at 2.16%. The remaining 84.65% was spread across other validators.
One passage in the report says Solana requires 20 entities, but its chart, comparison table and published Glassnode summary all report a coefficient of 19. The table also says the figure increased from 18 in March 2026.
Solana’s validator distribution performed well on this particular measure, but its physical infrastructure was more concentrated. Approximately 100% of the infrastructure measured by the researchers operated in commercial data centers. About 68% was in Europe, while 21% was in North America.
TeraSwitch hosted 30.23% of measured stake, and the top two hosting companies served around 35.7%. Common infrastructure can create correlated failures even when the validator set contains many separate operators.
That risk became visible in August when 102 of 699 Solana validators stopped voting during a TeraSwitch routing problem. Solana continued processing transactions, but the episode showed how one infrastructure failure can affect multiple otherwise independent validators.
The report used Solana geographic data from November 2024, while most Bitcoin and Ethereum infrastructure data came from July 2026. That timing difference limits direct comparisons and leaves room for Solana’s distribution to have changed.
Bitcoin leads infrastructure resilience and auditability Bitcoin had the least expensive verification requirements in the study. The researchers estimated hardware for a full node at $289, compared with $730 for Ethereum and $21,478 for a Solana RPC node or validator-class configuration.
Its measured full-chain storage requirement was 753 gigabytes. Ethereum required approximately two terabytes for a full archive setup, while reconstructing Solana’s history was estimated at 480 terabytes because historical data is commonly offloaded to external providers.
Bitcoin also had the most distributed hosting profile. Only 16% of measured infrastructure operated in data centers, while 63% of nodes used Tor. Another 15% was residential or self-hosted.
Ethereum placed approximately 49% of execution-layer nodes in cloud environments and 45% in self-hosted settings. AWS alone hosted around 20%, while the top two providers accounted for approximately 27%.
Solana’s higher hardware and bandwidth demands reflect its focus on throughput. The tradeoff is that fewer ordinary users can independently recreate or verify the full network history using consumer equipment.
No single score settles blockchain decentralization The report ultimately ranked Bitcoin as the most decentralized of the three networks overall, followed by Ethereum and Solana. Bitcoin led in ownership distribution, auditability and geographic resilience.
Ethereum generally occupied the middle across the six dimensions. Solana scored strongly for its critical resilience threshold and validator participation but ranked lower for ownership distribution, verification accessibility and infrastructure diversity.
The methodology remains sensitive to how entities are grouped. Exchanges can hold tokens for many customers, mining pools aggregate independent miners, and staking protocols coordinate multiple operators. Wallet-size bands can likewise combine custodial assets belonging to thousands of users.
The comparison is therefore more useful as a map of separate concentration risks than as a definitive ranking. A network may distribute block production broadly while relying heavily on several hosting companies, software clients or governance organizations.
Future editions could improve comparability by using synchronized data dates, separating pools from underlying resource owners and distinguishing censorship thresholds from thresholds capable of rewriting finalized history.
FAQs Do three entities control Bitcoin? No. Three measured mining pools exceeded 51% of hash rate, but independent miners supply much of that computing power and can change pools.
Can three Ethereum platforms rewrite the blockchain? The report’s three-entity figure concerns the 33% stake threshold associated with disrupting finality. It does not represent the stronger two-thirds threshold needed for other consensus actions.
Why does Solana score 19? The 19 figure is the minimum number of validators whose combined delegated stake exceeds the report’s 33% threshold.
Which blockchain did the report rank as most decentralized? Bitcoin ranked highest overall due to its accessible verification, dispersed ownership and comparatively resilient geographic infrastructure.
According to an announcement by Japanese listed firm Remixpoint (ticker: 3825), the company sold all its altcoins on September 1—including Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE)—for a total of 878.8 million yen, generating a profit of 117.8 million yen. Post-sale, Remixpoint’s only remaining cryptocurrency holding is Bitcoin (BTC), with approximately 1,506 BTC in reserves. Breakdown of the altcoin sales: 901.4467 ETH sold for 353.4 million yen, yielding a 60.2 million yen profit; 13,920.0726 SOL sold for 227.9 million yen, with a 49.3 million yen profit; roughly 1.1912 million XRP sold for 260.4 million yen, netting a 11.52 million yen profit; and approximately 2.8023 million DOGE sold for 37.08 million yen, incurring a 3.26 million yen loss. The company plans to recognize the ~118 million yen in sale proceeds in its second quarter results for the fiscal year ending March 2027. Remixpoint stated the portfolio adjustment is designed to further consolidate its crypto asset holdings, formalize its Bitcoin-centric investment and operational strategy, and boost capital efficiency. The sale proceeds will be considered for use in expanding assets in growth sectors such as grid-scale energy storage, strengthening its financial foundation, and other initiatives to enhance corporate and shareholder value. Additionally, the firm disclosed that between February 24, 2026, and August 31, it earned BTC lending income of 14.92055902 units, equivalent to approximately 164.2 million yen. As of August 31, its staking income from ETH and SOL combined totaled roughly 29.875 million yen.
Remixpoint has sold its entire altcoin portfolio for ¥878.8 million, leaving the Japanese listed company with roughly 1,506 Bitcoin as its only cryptocurrency holding.
Summary
Remixpoint sold all of its ETH, SOL, XRP and DOGE holdings on September 1 for ¥878.8 million. The transactions generated a combined realized profit of ¥117.8 million, which will be booked as business segment revenue in the second quarter. Remixpoint now holds only Bitcoin in its crypto portfolio, with its balance standing at approximately 1,506 BTC. The company plans to consider using the sale proceeds for grid scale battery assets, strengthening its finances and other corporate measures. According to a September 2 disclosure from Remixpoint, the company sold all of its Ethereum, Solana, XRP and Dogecoin on September 1 after reviewing market conditions, the risk and return profile of each asset and its financial strategy. The transactions generated a combined realized profit of ¥117.77 million.
The company said the portfolio change would concentrate its crypto holdings and establish Bitcoin as the main asset under its holding and operational strategy. Remixpoint plans to book roughly ¥117 million from the altcoin sales as business segment revenue in the second quarter of its fiscal year ending March 2027.
Ethereum accounted for the largest portion of the sale by value. Remixpoint disposed of 901.44672542 ETH for ¥353.43 million, compared with a book value of ¥293.22 million, producing a profit of ¥60.2 million.
Its 13,920.07255868 SOL position was sold for ¥227.89 million against a book value of ¥178.58 million. The Solana transaction generated another ¥49.3 million in realized gains.
Remixpoint received ¥260.43 million from the sale of 1.191 million XRP, resulting in an ¥11.52 million profit. Dogecoin was the only position sold at a loss, with 2.802 million DOGE generating ¥37.08 million compared with its ¥40.34 million book value. The DOGE sale resulted in a ¥3.26 million loss.
Combined, the four positions had a book value of ¥761.04 million before being sold for ¥878.81 million.
Ethereum and Solana had previously generated income for the company through staking. Between July 16, 2025 and August 31, 2026, Remixpoint received ¥10.93 million in staking rewards from ETH and ¥18.94 million from SOL, taking total rewards from the two assets to ¥29.87 million. The company received all of those rewards in yen.
Remixpoint had built a diversified crypto portfolio before concentrating its holdings in Bitcoin. In November 2024, crypto.news previously reported that its holdings included Bitcoin, Ethereum, Solana, Avalanche, Dogecoin and XRP. At the time, the company held 215.76 BTC, while Solana was its second-largest crypto position by value.
By December 2024, its Bitcoin balance had increased to 282.87 BTC after another ¥200 million purchase. The company then held ETH, SOL, AVAX, DOGE and XRP alongside Bitcoin, with an aggregate acquisition cost of ¥4 billion across the portfolio.
Bitcoin becomes Remixpoint’s sole crypto holding Following the September 1 sales, Remixpoint said its cryptocurrency holdings consisted solely of approximately 1,506 BTC.
The decision extends a Bitcoin strategy that the company had been expanding since 2024. Remixpoint approved another ¥1 billion Bitcoin purchase in May 2025 after committing ¥11 billion to cryptocurrency purchases and spending ¥10.5 billion of that amount. The additional allocation would have taken its approved crypto investment to ¥12 billion at the time.
Its Bitcoin strategy accelerated two months later when Remixpoint announced a financing plan designed to raise approximately $215 million. The company said at the time that it intended to increase its Bitcoin exposure, while its crypto portfolio still included ETH, XRP and SOL. Its Bitcoin balance then stood at roughly 1,051 BTC.
Remixpoint reinforced the strategy in July 2025 when CEO Yoshihiko Takahashi chose to receive his salary in Bitcoin. The arrangement made Remixpoint the first publicly listed Japanese company to pay its chief executive entirely in BTC, with the company converting an amount equal to Takahashi’s salary into Bitcoin before transferring it to him.
Bitcoin lending has since generated revenue from the company’s holdings. Remixpoint’s September 2 filing showed that lending operations produced 14.92055902 BTC, valued at ¥164.22 million, between February 24 and August 31. Monthly lending income reached 2.48356398 BTC, worth ¥31.15 million, in August alone.
Japanese companies continue building Bitcoin treasuries Remixpoint’s Bitcoin concentration comes as other Japanese listed companies have developed treasury strategies centered on the cryptocurrency.
Metaplanet held 43,000 BTC after adding 2,823 Bitcoin during the second quarter of 2026. The company reported an overall average acquisition price of ¥15.3 million per Bitcoin, while revenue from its Bitcoin Income Generation business fell roughly 41% quarter over quarter to ¥1.747 billion.
Metaplanet has moved beyond accumulation into financial products tied to its treasury. In July, the company completed its ¥2.1 billion acquisition of Siiibo Securities and launched Metaplanet Securities, a regulated business intended to develop Bitcoin-backed bonds and digital credit products.
Remixpoint, meanwhile, said the ¥878.81 million raised from its altcoin disposals would be considered for expanding assets in business areas it has identified for future growth, including grid-scale storage batteries. The company named strengthening its financial base and other measures intended to improve corporate and shareholder value among the potential uses of the proceeds.
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Robinhood’s Ethereum Layer-2 blockchain generated roughly $2.2 million in revenue in a single day, putting it on an annualized pace of around $800 million just two months after its public launch. For a chain that was supposed to be about tokenized stocks and serious DeFi, the revenue engine looks a lot more like a memecoin casino.
On August 30, 2026, applications on Robinhood Chain pulled in approximately $2.66 million in daily revenue, a figure that surpassed Ethereum’s own app revenue for the same day. Only Solana generated more. The chain also recorded 5.52 million transactions that day, a volume that would have been eye-popping for most established Layer-2 networks, let alone one that has been live for barely eight weeks.
The memecoin surprise Robinhood Chain launched its public mainnet on July 1, 2026, built on Arbitrum technology with a stated focus on tokenized equities and real-world assets. The pitch was straightforward: bring traditional finance rails onto a fast, cheap Ethereum Layer-2 and let retail investors trade stocks as tokens alongside DeFi protocols.
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The actual usage tells a different story. The three biggest revenue-generating applications on the chain are GMGN, Pons, and Uniswap, with memecoin-focused tools dominating the revenue leaderboard.
Revenue in context A key distinction worth understanding: the $2.66 million figure represents application-level revenue, meaning the fees and income generated by apps running on Robinhood Chain. The chain-level revenue, what actually flows to the network itself, is estimated at around $963K before costs and revenue-sharing obligations.
Under the Arbitrum Expansion Program, Robinhood Chain allocates 10% of net protocol revenue back to the Arbitrum ecosystem. That breaks down to 8% directed to the Arbitrum DAO treasury and 2% to developers. So for every dollar the chain earns at the protocol level, roughly a dime goes back to the technology stack that makes it possible.
During its first full month of operations in July 2026, Robinhood Chain captured approximately 38% of total Ethereum Layer-2 fees, pulling in around $3.6 million. That’s a newcomer grabbing more than a third of the entire L2 fee market within weeks of going live.
For Robinhood the company, the L2 represents a potentially transformative new business line. Robinhood reported $2.95 billion in total net revenue for 2025, so a blockchain division running at even a fraction of that annualized pace would move the needle.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
U.S. spot Ethereum ETFs recorded net positive inflows as September trading opened, giving ETH markets an early signal that institutional demand has not faded after a volatile end to August.
The inflows matter because Ethereum ETF products are still newer and more closely watched than their Bitcoin counterparts. Bitcoin ETFs have already become a major part of the market structure, while Ethereum funds are still building their identity with traditional investors.
A positive September opener does not settle that debate. But it does show that regulated ETH products remain active as the market enters a new trading month.
For more details, visit the official Farside platform.
TL;DR U.S. spot Ethereum ETFs opened September with net positive inflows. The data points to continued institutional activity around ETH. This should be read as a daily flow signal, not a complete verdict on long-term demand. Why Ethereum ETF Flows Matter ETF flows have become one of the clearest ways to track regulated crypto demand.
When spot funds attract money, traders often see that as a sign that institutional or advisory-channel investors are adding exposure. When funds lose assets, the market may read it as risk reduction or profit-taking.
Ethereum flows are especially important because the ETH investment case is less straightforward than Bitcoin’s.
Bitcoin is usually presented as a monetary asset. Ethereum is a network asset tied to smart contracts, decentralized finance, Layer 2 activity, stablecoins, and tokenization. That means traditional investors may need more time to understand what they are buying.
Positive inflows suggest that process is continuing.
September Gives The Market A New Reset Month openings can be useful sentiment markers.
Portfolio managers rebalance. Traders reset positioning. New macro data approaches. Fund flows can shift as investors decide whether to add risk, reduce exposure, or wait.
For Ethereum ETFs, a positive start to September helps offset concerns that late-August volatility would cool demand too sharply.
It does not guarantee a strong month ahead. But it means the first signal was not a retreat.
That matters for ETH sentiment.
Ethereum Still Needs A Clear Institutional Story Ethereum has several narratives competing for investor attention.
Some investors see ETH as exposure to DeFi. Others see it as tokenization infrastructure. Some view it as a settlement layer for stablecoins. Others look at staking economics, network fees, or Layer 2 growth.
The ETF wrapper makes access easier, but it does not automatically simplify the story.
That is why flows are so closely watched. They show whether investors are actually moving capital into ETH products rather than simply talking about Ethereum’s long-term role.
Not The Same As Bitcoin ETF Demand Ethereum ETF inflows should not be blended with Bitcoin ETF data.
The two markets are related, but they are not identical. Bitcoin and Ethereum attract different investor profiles, different narratives, and different risk assumptions. A positive ETH flow day does not automatically mean Bitcoin funds behaved the same way, and vice versa.
The cleaner view is to track each category separately.
Ethereum’s September opener gives ETH its own regulated-demand signal.
The Market Read Ethereum ETFs began the month with a constructive flow print.
That is useful for traders watching whether ETH can maintain institutional attention. The next question is whether inflows continue across multiple sessions or whether this becomes a one-day rebound.
Daily ETF flows can turn quickly.
But after a choppy August, a positive September start gives Ethereum bulls something tangible to point to: regulated products are still drawing money.
This article draws on U.S. spot Ethereum ETF flow data from Farside Investors.
This article was written by the News Desk and edited by Samuel Rae.
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) slid Tuesday after President Trump announced U.S. strikes on Iranian targets near the Strait of Hormuz and warned of a larger attack to come.
Trump posted on Truth Social that the U.S. is striking Iranian targets near the Strait of Hormuz in retaliation for Iran attempting to place sea mines in the waterway and firing eight missiles at a US military base in Jordan.
The Kobeissi Letter flagged on X that Brent crude spiked toward $96 per barrel on the news, up nearly 5% on the session.
With oil and yields rising simultaneously, the Dow, S&P 500 (NYSE:SPY), and Nasdaq all traded lower, putting global risk-off firmly back on the table and creating the worst possible setup for risk assets heading into the session.
What Analysts Are Saying About YieldsPeter Schiff posted on X that as long as deficit spending continues, the Fed will keep printing money and buying Treasuries, meaning small rate hikes will not reduce inflation but instead fuel it by widening budget deficits further.
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As Coindesk reported, notable Bitcoin analyst James Lavish commented on a key global bond yield gauge hitting its highest level since 2008, calling it “the death of fiat in a slow-motion train crash.”
Analyst Caleb Franzen added that literally everyone in the market now expects yields to move higher, a level of consensus that itself carries contrarian risk.
Rising yields matter for Bitcoin because higher returns on safe government bonds pull capital away from risk assets like crypto, making it harder for Bitcoin to hold recent gains without fresh spot demand stepping in.
Bitcoin and Ethereum Price Prediction: Key Levels to WatchBTC pulled back after tagging a high of $82,207, its highest print since May. Price now tests the 0.786 Fibonacci support at $76,984, the same zone that acted as resistance through June and July before the breakout.
Holding that level keeps the breakout structure intact while losing it risks a deeper move toward $72,900.
Meanwhile, ETH is consolidating inside an ascending triangle below flat resistance at $2,485.
RSI at 64.86 remains in bullish territory after cooling from above 80, with the 20-day EMA at $2,308 as the first real support below.
Key levels for BTC and ETH: BTC — support $76,984, resistance $82,207 ETH — support $2,308, resistance $2,485 Photo via Shutterstock
According to HTX market data, the overall cryptocurrency market has continued to decline, likely impacted by escalating tensions in the Middle East. Bitcoin has fallen below $77,000, while Ethereum has dropped below $2,400. In related news, the U.S. Air Force struck Iranian targets near the Strait of Hormuz today, followed by Iran launching missiles and drones at U.S. military positions.
Japan’s rate shock deepened on Tuesday. The 30-year government bond yield approached its all-time high of 4.205%, last tested in May. Meanwhile, the 10-year reached 3% for the first time since 1996.
The rate hike itself was never the surprise. Markets had nearly fully priced a September move. What nobody saw coming was Washington publicly demanding it, and a bond market that broke anyway.
JP30Y Performance Source: TradingViewWhy Japan’s Rate Shock Is Reaching Global MarketsUS Treasury Secretary Scott Bessent met Finance Minister Satsuki Katayama and Bank of Japan (BOJ) Governor Kazuo Ueda at the Group of 20 (G20) finance gathering in Asheville, North Carolina. He pressed for hikes and a clearer fiscal plan.
“I have information that the market doesn’t have, and it’s my belief that the Japanese government and the BOJ will do the things that will lead to a stronger yen,” Bessent said.
Japan’s whole curve gave way, with the two-year hitting a 31-year high, lifting yen carry trade costs that had been near zero for a generation.
Where is Bessent? Japan is in trouble.
Rates are surging while the yen is falling:
– Yen at a 40 year low
– JP10Y yield at a 30 year high
– Inflation near a 30 year high
If Bessent doesn’t want Japan dumping USTs, he better prepare for the next intervention.
We all don’t own… pic.twitter.com/LZzx3t4P0W
— Lukas Ekwueme (@ekwufinance) September 1, 2026
Japan’s own budget assumed a 3% long-term rate when it calculated debt-service costs, so Japan’s rising borrowing costs now test that arithmetic.
Other long-end markets moved with it. UK 10-year gilts reached 5.23%, a level last seen in 2008, US 10-year Treasuries traded at 4.78%, and Brent crude climbed above $92 a barrel.
Not everyone reads the selloff as a monetary story. Takahide Kiuchi, a former BOJ board member now at the Nomura Research Institute, framed the 3% print as a verdict on spending under Prime Minister Sanae Takaichi.
“The rise to 3 per cent is a message from the market that could, to some extent, force Takaichi to correct some of her expansionary fiscal policy,” the Financial Times reported, citing Kiuchi.
What a Stronger Yen Would Mean for BitcoinYears of near-free yen borrowing funded leveraged bets across equities, bonds, and crypto. Higher Japanese rates make that funding dearer.
The Bank for International Settlements put yen loans to non-banks outside Japan near $250 billion in March 2024, with cross-border yen claims on offshore centers around $500 billion. It cautioned that the true size resists measurement.
The current estimated size of the yen carry trade may be as high as $500 billion compared to $250 billion in August of 2024, when a 6% rally in the yen caused a global financial shock. The $500 bln may not take into account the amount of leverage added to that total today.
— ron insana (@rinsana) August 1, 2026
When it happened, Bitcoin (BTC) and Ethereum (ETH) shed up to 20% during the August 2024 unwind, as margin calls forced traders to liquidate positions across asset classes.
Bitcoin and Ethereum Price Performance. Source: TradingViewYet the currency has not rallied. The dollar sat near 159.75 yen on Monday, just inside the 160 mark that raises the odds of yen-buying intervention.
Japan’s fading yen defense has held no floor since the July 31 joint operation with Washington.
For officials, the line is 160, but for Bitcoin the trigger is speed rather than level, because the pace of the 2024 appreciation, the sharpest single-day currency move the BIS examined, is what broke the trade.
The BOJ decides on September 18, with markets pricing a quarter-point move to 1.25%. Ueda’s guidance on what follows may matter more to crypto than the hike itself.
In brief Robinhood Chain generated $1.595 billion in 24-hour DEX volume. DeFi TVL reached $738.11 million. Stablecoin market capitalization rose to $796.74 million. Daily trading volume on Robinhood Chain’s decentralized exchanges jumped 61% between Aug. 28 and Sept. 1, rising from $989 million to $1.595 billion, according to DeFiLlama.
The Ethereum Layer 2 also held $738.11 million in DeFi deposits and nearly $797 million in stablecoins as of Sept. 1. Separately, DeFiLlama recorded $353.96 million in daily perpetual futures volume and $2.524 billion in assets bridged to the network.
Myriad: Where does Solana price go next? Click to make your prediction.Each figure covers a different category. DEX volume measures spot trades made through blockchain applications instead of centralized exchanges. Total value locked, or TVL, tracks assets deposited in DeFi protocols. Bridged value includes assets moved onto Robinhood Chain whether or not they have been deposited into those applications.
After entering public testing in February 2026, Robinhood Chain launched its Arbitrum-powered mainnet on July 1. The network supports round-the-clock trading of tokenized stocks, which eligible users can lend or use as collateral.
Trading took off during the first week of July. The network processed more than 17 million transactions, drew nearly 350,000 addresses, and generated over $1 billion in cumulative DEX volume.
DeFiLlama measured about $433 million in 24-hour DEX volume later that month, placing the new network fifth among blockchains at the time. TVL was about $94 million, and stablecoin balances had passed $260 million.
Compared with those July readings, current TVL is nearly eight times higher and stablecoin capitalization has roughly tripled, though the figures may reflect different reporting times and methodologies used.
In an August interview with Decrypt’s FOMO Hour, Robinhood crypto chief Johann Kerbrat said the chain had processed more than 200 million transactions. He described its strategy as balancing “two wolves”: conventional financial products and the speculative tokens that attract crypto traders.
Meme coins powered much of the early activity, eclipsing the tokenized stocks at the center of Robinhood’s initial pitch.
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Robinhood Chain has gone from newcomer to one of the more talked-about DEX venues in DeFi, and the numbers are starting to back that up. Trading volume on the Ethereum layer 2 climbed 61% over a matter of days, with 24-hour DEX volume crossing $1.58 billion and weekly figures up nearly 90% according to DefiLlama data.
For a chain that only launched its mainnet on July 1, 2026, that is a remarkably short runway to relevance.
What is actually driving volume Tokenized equities have emerged as a genuine pull factor. Representations of stocks like Nvidia and Apple are being used as collateral in DeFi transactions. Over a 30-day window, tokenized stocks generated $4.3 billion in DEX volume on the chain, with daily real-world asset trading peaking at $85 million on August 25.
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The primary trading venue is Uniswap, which handles the bulk of swap activity on the chain. Morpho Blue leads on the lending side, holding roughly $481 million in total value locked, which represents the majority of the chain’s overall TVL figure of approximately $735 million. Stablecoin supply sits at around $797 million, with USDG accounting for a significant share of that figure and serving as the main fuel for Morpho’s lending markets.
The Arbitrum connection and what it means for Ethereum Robinhood Chain is built on the Arbitrum stack, which means it shares infrastructure DNA with one of Ethereum’s most established layer 2 networks. Part of that arrangement includes a 10% fee share with Arbitrum, giving the underlying network a direct financial stake in Robinhood Chain’s continued growth.
Analysts at Bernstein flagged the chain’s early momentum as a signal worth watching for Ethereum more broadly. The logic is straightforward: more DEX activity means more bridging, more gas consumption, and more demand for block space on Ethereum’s base layer.
Daily transaction counts have exceeded five million on peak days. Cumulative DEX trading volume has already crossed into the tens of billions since the July launch.
Real-world assets as a DeFi wedge Equities are different from tokenized Treasuries or credit products. Nvidia and Apple are household names with massive retail followings. Using tokenized versions of those stocks as DeFi collateral creates a bridge between the investing behaviors that Robinhood’s core user base already has and the on-chain functionality that DeFi protocols have spent years building.
A 10% fee share arrangement with Arbitrum means that as revenue scales, the economics benefit multiple layers of the stack simultaneously, which is a different model from chains that capture all fees internally.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum (ETH) holds above $2,400 on Tuesday after recording a 32.5% gain in August, its best-performing month since July 2025. This marks two consecutive positive months for the top altcoin as it continues its recovery from a nearly 70% drop spanning October to June.
US spot ETH exchange-traded funds (ETFs) played a key role in the recovery, attracting $1.85 billion in net inflows, its best month in over a year, per SoSoValue data. The products ended August on an 11-day inflow streak, with only four negative days throughout the month.
ETH ETF Flows. Source: SoSoValueAugust also saw major rotation across wallet cohorts. Investors with a balance of 10K-100K ETH, which fall within the whale bracket, accumulated 430K ETH during the month, with nearly all of that figure coming in the past two weeks as ETH began to rally.
Meanwhile, retail investors, wallets with a balance of 100-1K and 1K-10K ETH, offloaded 447K and 292K ETH, respectively, with distributions accelerating in the last two weeks.
ETH Balance by Holder Value. Source: CryptoQuantWith the rotation accelerating during the recent ETH rally, it suggests whales are accumulating supply from retail investors who are potentially booking profits or stepping to the sidelines after breaking even. The Realized Price, or average on-chain cost basis of the 100-1K and 1K-10K ETH cohorts at $2,350 and $2,260, shows these investors have largely been distributing, given the latter.
Meanwhile, inflows into staking contracts also increased, with Ethereum staking contracts adding 1.4M ETH during the month, their largest since February 2024. With more supply locked in staking contracts, available selling pressure reduces, improving the price growth outlook.
Ethereum technical outlook: ETH eyes 20-day EMA after break below $2,431 supportEthereum saw $71.6 million in liquidations over the past 24 hours, led by $59 million in long liquidations.
On the daily chart, ETH is extending its advance well above all major Exponential Moving Averages (EMAs), reinforcing a bullish near-term bias. Momentum remains constructive with the 14-day Relative Strength Index (RSI) hovering in the mid-60s and the Stochastic Oscillator (Stoch) holding in overbought territory, suggesting strong but increasingly stretched buying pressure as price hovers just over the nearby horizontal level around $2,431.
On the downside, ETH briefly broke the immediate support at the $2,431 horizontal line. The 20-day EMA follows that level at $2,310, which would be the first meaningful dynamic floor on a pullback. Below that, cluster support emerges from the 200-day EMA at $2,220 and the $2,172 horizontal level, ahead of deeper downside levels at the 50 and 100-day EMAs at $2,115 and $2,046, respectively.
ETH/USDT daily chartOn the topside, initial resistance emerges at $2,656, ahead of a higher barrier at $2,787, where a decisive break would open the door for a continuation of the prevailing uptrend.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Ethereum (ETH) is currently trading at approximately $2,463, delivering a 1.79% increase over the past 24 hours, according to Brave New Coin data. Market participants remain divided on ETH’s near-term direction as the cryptocurrency continues to face stiff resistance at the $2,550 mark.
Ethereum stalls below key resistanceRepeated attempts by buyers to lift Ethereum above the $2,550 threshold have so far been unsuccessful. After each failed breakout, the price has returned to levels around $2,465, keeping the asset below a resistance zone that defines the short-term outlook.
Market analyst Ted Pillows pointed to the potential for increased volatility in the coming days, suggesting that the sideways trend might end with either a short-term pullback or capitulation before a reversal can take hold. Major support is now seen between $2,250 and $2,300. If buyers manage to overcome $2,550, a broader resistance corridor lies ahead between $2,650 and $2,700.
Eth remains stuck below $2,550, with bulls preparing for the next major test. A decisive move above this zone could target the $2,700 area, while a failure would likely see support tested around $2,250-$2,300.
Long leverage adds volatility riskThe derivatives market for Ethereum is showing a significant tilt towards long positions. Open interest stands near 4.97 million, while the funding rate has climbed to approximately 0.0073. These metrics indicate that traders are taking on greater risk as price consolidates below resistance.
Ted Pillows noted that aggressive long entries could amplify volatility if the current price zone fails to attract new buyers. A sharp reversal from the $2,550 line may trigger liquidations among overleveraged market participants, potentially causing a swift short-term decline.
Larger upside and support zonesAnalyst DonAlt sees a major gap on Ethereum’s higher-timeframe chart, highlighting that the next significant resistance does not appear until roughly $4,000 to $4,100. To reach that zone, ETH must establish a clear move above $2,700, overcoming multiple resistance clusters along the way.
A sustained break above $2,550 would be required to start targeting $3,000 and eventually the broader $3,800-$4,100 region. Stronger resistance at $4,300-$4,400, near previous cycle highs, also remains in focus if bullish momentum builds. ETH continues to rely on support between $2,000 and $2,100 for the broader bullish outlook to remain valid.
Resistance LevelTarget if Broken$2,550$2,650–$2,700$2,700$3,000$3,800–$4,100$4,300–$4,400Institutional accumulation remains strongInstitutional buyers continue to build Ethereum exposure despite recent price indecision. BitMine, a digital asset investment firm, reportedly acquired an additional 53,501 ETH last week, taking its total holdings to nearly 5.9 million ETH. The size of such positions suggests large investors are accumulating during periods of market consolidation, which could provide more stability if ETH attempts a larger recovery.
Mini dictionary: BitMine is a cryptocurrency investment and mining company focused on acquiring and managing large-scale digital asset positions for institutional clients.
Key chart levels to watchEthereum’s technical outlook revolves around the $2,500-$2,550 resistance area, which has rejected multiple upside moves in recent sessions. A conclusive breakout would strengthen the short-term trend, possibly triggering a push towards $2,700 and $2,800 in the weeks ahead.
Should ETH lose momentum, the first level to monitor on the downside is $2,400. A breach of this zone could open the path towards $2,250–$2,300 support. A much deeper pullback would test the more strategic $2,000 level that defines the broader bullish structure.
Bulls must clear $2,550 decisively to unlock further gains, while losing $2,400 could expose the market to a deeper correction.
Upside targets and downside risksETH’s broader targets extend beyond the near-term hurdles. If the price successfully overcomes resistance around $2,550 and $2,700, market watchers will focus on $3,000 as the next notable milestone and $4,000–$4,400 at the high end of the current cycle projection.
Key downside risks remain if Ethereum fails at resistance. Another rejection increases the likelihood of a slide towards $2,400, and if that level does not hold, further support is found between $2,250 and $2,100.
For now, Ethereum continues to consolidate, with traders closely monitoring whether bulls can recapture lost ground or if further volatility is imminent in the near term.
Pi Network price hovered near $0.0917 on September 1, 2026, after a week of consolidation, with Pi eyeing $0.20 this month
Bitcoin traded below $78,000, whereas Ethereum and XRP hovered at about $2,420 and $1.35, respectively. This drawback held speculative tokens back as investors moved into September with wary anticipations. The future of PI is now pegged on two stimulators which are planned around September 15.
Protocol 27 Could Strengthen Mainnet Utility Protocol 27 is targeted for September 15, following Protocol 26’s completion during August. The last scheduled improvement is the implementation of flexible smart-contract authentication of accounts, applications and complex transaction approvals.
This may facilitate multisignature controls, conditional payments and safer decentralized applications throughout the open mainnet. Nonetheless, the successful deployment can be insufficient to generate long-lasting demand of PI.
🚨🔥 SEPTEMBER IS HERE, PIONEERS! AND IT COULD BE A BIG ONE FOR PI! 💜🚀
Happy new month, Pioneers! 🎉
The countdown has officially begun, and September is shaping up to be a month worth watching closely for Pi Network and the wider crypto space. 👀🔥
📅 September 15th could… pic.twitter.com/Vmn7Mb1O2v
— drealFx || π 🕊 (@okere_eberechi) September 1, 2026
The developers have to launch helpful services that will generate traffic, fees and recurrence. The utility case would be reinforced by the independent AI growth by Pi.
App Studio enables nontechnical users to build blockchain-enabled applications via generative AI, whereas Pi Desktop enables AI agents locally hosted. Pi Desktop extends beyond blockchain infrastructure with the addition of SoloHost, such as OpenClaw.
CLARITY Act Vote Adds a Regulatory Catalyst The cloture vote of September 15 by the Senate will determine whether the CLARITY Act can proceed to full debate. This is a procedural obstacle, not a final passage and the supporters require 60 votes.
The bill would establish token status, regulatory oversight, and company obligations of digital-asset firms. An effective vote would enhance industry confidence as it would minimise the uncertainty regarding the United States crypto rules.
An ongoing conflict of ethical issues, anti-money-laundering regulations, and stablecoin incentives. Since the two events have a single date, volatility may be elevated prior to the establishment of certain results.
Can Pi Network Price Rally To $0.20 In September 2026? Achieving $0.20 in September can still be possible, yet market indicators make it a challenging situation. Long-term Pi projection should close above $0.0940, and then turn $0.10 into reliable support.
A breakout will reveal $0.1089, and then the 200-day exponential moving average is falling around $0.1486. That average would be cleared with growing volume, and would build targets at $0.15, $0.18, and ultimately at $0.20.
That target would otherwise be very speculative without that confirmation. The daily RSI is approximately at 51.8, a bit above neutral, with positive momentum and no overbought pressure. The MACD line has risen to 0.00049, while its signal line moved above zero.
Source: PI/USDT 4-hour chart: TradingView Bullish confirmation would involve long-term closes above $0.10 and increased trading volume following both catalysts. Any rejection less than $0.0901 may take Pi Network price back to $0.0879, where the more substantial support will be at $0.0834.
Owners must stake, post and attest to a permitted country to earn Robinhood Stock Tokens. Anyone can buy the NFT, and the portfolio inside it, with no KYC.
Posted September 1, 2026 at 6:30 pm EST.
On Robinhood Chain, an NFT collection whose floor price has risen 77% in a month is testing the line between securities and collectibles, mixing regulated financial products with pixelated, suit-wearing avatars.
Called StonkBrokers, the colorful 4,444-piece collection enables its owners to accrue Stock Tokens as rewards on Robinhood’s Ethereum layer-2 network, providing them with a novel way to gain exposure to Wall Street names like Tesla, Amazon, and Nvidia.
Robinhood has made the tokens available to investors in more than 120 countries, though not in the U.S., U.K., Canada or Switzerland. The rules that would govern them in the U.S. remain unwritten: The SEC’s proposed exemption for tokenized securities was pulled from its agenda in August and has never been published. And the team seems to have taken into account past NFT projects’ brushes with U.S. securities law, such as Ashton Kutcher’s Stoner Cats 2.
In order to earn those Stock Tokens, those holding StonkBrokers must pass what the project’s terms call “geographic and network screening” and complete a “Program attestation” declaring that they live in a “permitted jurisdiction.” At the same time, the NFTs can be bought by anyone on a secondary market outside the same Know Your Customer (KYC) procedures that Robinhood customers must satisfy.
By offering NFTs that can accrue Stock Tokens as rewards, StonkBrokers is charting new ground at the intersection of collectibles and securities, according to Givner Law founder and principal attorney Ariel Givner.
“Nobody’s done it before,” she said. “It’s a gray area, and it’s bringing together a lot of new things that we don’t have precedent on.”
A Fast Run, a Retrace, and Another Run Clutch Markets, the Grand Cayman company behind StonkBrokers, said on X on Aug. 25 that the project had distributed more than $1.57 million in what it calls marketing rewards.
The collection’s floor passed Bored Ape Yacht Club’s in early August, gave back roughly 60% of that run, and has now passed it again, trading at 8.50 ETH, or about $20,500, against Bored Ape’s 7.65 ETH on Tuesday afternoon. That floor is not set by open bidding. The project’s own automated market maker prices every broker at a flat 666,666 $STONKBROKER plus a 10% fee, so the floor tracks the token, which fell 14% on Tuesday even as the floor reading climbed.
The collection stood out in a slow market for profile picture NFTs, or PFPs. The collection carried no mint price, though allocation required burning an earlier Clutch NFT before a July 16 deadline. Pseudonymous crypto analyst Diamond estimated the mint cost at around $37.
The SEC and CFTC interpreted in March that a “digital collectible” is not itself a security, while leaving intact that one can still be sold subject to an investment contract. StonkBrokers has squarely tied itself to financial products that operate within tight regulatory boundaries, Givner told Unchained.
Freely Tradeable — While Still Blocking U.S. Users StonkBrokers are capable of holding Stock Tokens thanks to ERC-6551, an Ethereum standard giving each NFT its own unique smart contract wallet, known as a token-bound account.
According to the project’s documentation, each StonkBrokers NFT comes equipped with a wallet that’s “seeded with tokenized stock at mint and, once activated, can receive stock-token reward drops through the StonkBrokers rewards program.”
Because the underlying Stock Tokens live inside the NFT’s sub-account rather than a user’s personal wallet, trading the NFTs on secondary markets effectively transfers that portfolio.
That gap appears significant, Ryón Nixon, founding partner of crypto-native law firm Horizons Law, told Unchained. Robinhood’s Stock Tokens are debt instruments issued by an offshore affiliate that can’t be directly purchased or redeemed by U.S. persons, but can be freely transferred like any other ERC-20 token, such as a stablecoin, he noted.
“In simple terms, StonkBrokers engineered the protocol in a way where they don’t let people in certain jurisdictions, like the U.S., interact with the touchpoints that might trigger compliance requirements like a customer identification program,” he said.
Nixon noted that the offshore separation provides a unique legal buffer: “Even if a Stock Token ends up in a U.S. person’s wallet, Robinhood’s offshore affiliate does not let U.S. persons directly purchase or redeem the Stock Tokens, so from their perspective, the transactions are intended to remain completely offshore.”
Robinhood’s own base prospectus complicates that picture somewhat. It reserves the issuer’s right to declare a transfer “null and void” and to “freeze, block, seize, transfer, redeem and/or recreate” a token, and says the contracts will be programmed to block addresses identified as sanctioned.
Lessons From Stoner Cats 2 Before the Securities and Exchange Commission struck a more collaborative stance under its current leadership, the regulator brought several enforcement actions against NFT issuers.
For example, the SEC famously argued that Stoner Cats 2, LLC, the firm behind an animated web series backed by actors Mila Kunis and Ashton Kutcher, offered unregistered securities because buyers had “a reasonable expectation of obtaining a profit based on SC2’s managerial and entrepreneurial efforts,” pointing to its marketing campaign and a 2.5% cut of secondary sales. The company paid a $1 million penalty. Commissioners Hester Peirce and Mark Uyeda dissented, writing that the analysis “lacks any meaningful limiting principle.”
The position was rooted in the SEC’s Howey test, under which a transaction is an “investment contract,” and therefore a security, if it involves an investment of money in a common enterprise with an expectation of profits derived from the efforts of others.
StonkBrokers explicitly strips away any notion of passive income, requiring holders to stake $STONKBROKER to activate a broker and then work for their payouts. Any wallet can trigger the “Clock In” that releases a round of rewards, but only activated brokers collect them. According to the project’s terms of service, participants receive rewards for “the creation and publication of qualifying social media posts promoting the StonkBrokers game, collection, art, or Clock In.”
The document strictly bans users from utilizing words like “royalty,” “dividend,” “yield,” or “passive income,” asserting instead that the compensation is “payment for services rendered” to those who are classified technically as independent contractors.
An Untested Defense Whether that structure works has not been tested. The March interpretation’s safe harbor for token distributions covers only those where recipients provide “no money, goods, services, or other consideration,” and it names social media promotion among the activities that count as services. In a 2018 case against Tomahawk Exploration, the SEC found that tokens paid out for promotional posts were an offer and sale of securities.
The project’s documentation says rewards are funded mechanically: 70% of the trading fees from its own automated market maker, plus fees from lending, its Safety Deposit Box and a slot-machine game. Its terms of service describe something looser, saying the project funds the pool “in its sole discretion.” The funding story buyers are relying on is not the one the project has committed to in writing.
The project has not slowed down while those questions sit open. On Aug. 29 it launched Stonk Exchange, a venue built on Uniswap v4 pools where liquidity providers collect premiums from leveraged traders, with covered-call vaults slated for September. Robinhood’s own crypto account retweeted the team on Aug. 28, amplifying a Robinhood Chain block explorer it had built, though it has said nothing publicly about the stock-token rewards program itself.
While StonkBrokers is taking a fresh approach to NFTs, Robinhood Chain’s mainnet only launched on July 1, following a public testnet in February.
Interest in tokenization has climbed sharply this year. dYdX Labs brought leveraged stock and crypto tokens to the same chain last week, and on Tuesday the SEC proposed its first overhaul of transfer-agent rules since the 1970s, asking for comment on how a blockchain should interact with the official record of who owns a security. Nixon noted that while the structure is unconventional, it showcases a broader appetite for experimentation.
“It’s a very interesting approach that opens the market up to new design spaces, which is refreshing to see in the current market conditions,” he said.
Unchained has reached out to Clutch Markets and Robinhood for comment.
Related Listen: How Tokenized Stocks Could Undercut Interactive Brokers’ 77% Profit Margin
Robinhood (@RobinhoodCrypto) Chain closed August with a milestone that few Layer 2 networks reach in their second month of operation. Daily decentralized exchange volume hit $1.33 billion on Aug. 30, according to DefiLlama data cited by BlockBeats, surpassing Ethereum, BNB Chain, and Base in the same 24-hour window. Among major networks, only Solana posted a higher figure, at roughly $1.86 billion.
TVL and Stablecoins Signal Deeper Capital Commitment The volume surge was accompanied by broader balance-sheet growth. Total value locked reached $728 million, nearly double its level from a month earlier. Stablecoin supply on the network climbed 47% month over month to approximately $796 million, reflecting an expansion in productive capital rather than purely speculative positioning. Seven-day DEX volume reached $6.16 billion, up 79% week over week, according to DefiLlama data reported by BlockBeats.
Fee generation also stood out. Network fees for the 24-hour period reached roughly $1.07 million, a figure that was approximately equal to the combined fees generated by Ethereum and Solana over the same period, per DefiLlama data.
Activity Shifts From Memecoins Toward Utility The composition of activity on Robinhood Chain is evolving. In July, the chain was dominated by memecoin trading, with CASHCAT leading the way after a rapid run-up following its Robinhood spot listing. By August, the tokens attracting the most attention had shifted toward utility and infrastructure. According to The Block, projects including Delta, UP, and NetNet each saw their valuations rise approximately tenfold during the month.
The most prominent example is PONS, the native token of one of the chain's leading launchpads. Its market cap grew from around $20 million to above $200 million during August alone, according to The Block. On Aug. 30, PONS led all tokens on the chain with $67.38 million in volume, 135,566 trades, and 12,670 unique traders, per Dune Analytics data.
Tokenized equities are also playing a growing role. Daily trading volume in tokenized real-world assets hit a record $85 million on Aug. 25, with representations of stocks such as NVDA and AAPL accounting for a significant share, according to Crypto Briefing. Uniswap has emerged as the dominant venue on the chain, handling the bulk of DEX volume since launch.
Robinhood Chain launched its public mainnet on July 1 as a permissionless Ethereum Layer 2 built on Arbitrum technology. The speed of its growth, from zero to competing with established networks on daily volume within two months, has drawn attention across the DeFi space. The key test ahead is whether that volume holds once speculative momentum cools.
Sources:
Bloomingbit: Robinhood Chain DEX Volume Hits $1.33 Billion, Surpassing Ethereum, BNB Chain and Base
The Block: Robinhood Chain activity surges in August as DEX volume nears $1 billion
Crypto Briefing: Robinhood Chain daily DEX volume hits new all-time high
Robinhood’s own blockchain just quietly outearned some of the biggest names in crypto. On August 31, 2026, Robinhood Chain generated $1.07 million in daily gas fees, topping Solana, Base, and Ethereum on that metric. For a network that’s barely two months old, that’s a remarkable flex against chains that have spent years building their ecosystems.
The fee surge was driven by an explosion in decentralized exchange activity. On August 30, the chain processed 5.52 million daily transactions, with DEX volumes reaching $1.49 billion. The network has only been live since July 1, 2026.
Memecoins are doing the heavy lifting The engine behind Robinhood Chain’s rapid ascent isn’t some groundbreaking DeFi protocol or institutional product. It’s memecoins. Platforms like Pons and GMGN have turned the chain into a launchpad for speculative tokens, with peak days seeing more than 22,600 new memecoin launches.
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That’s roughly one new token every four seconds on the busiest days. The sheer volume of activity those launches generate has been enough to push the chain’s cumulative DEX trading volumes past $47 billion within just two months of operation.
Robinhood also ran a 90-day gas subsidy program starting at launch, essentially paying users’ transaction costs to bootstrap activity. Uniswap integration has added liquidity to the ecosystem alongside the memecoin activity.
The economics look surprisingly good for Robinhood Robinhood retains approximately 89% of gross fees collected on the network. Around 10% goes to Arbitrum, whose Orbit technology underpins the chain. Less than 1% flows to Ethereum for data availability.
That means of the $1.07 million generated on August 31, roughly $950,000 went straight to Robinhood’s bottom line.
The chain’s broader DeFi metrics show additional traction beyond trading volume. Total value locked sits at around $735 million. Stablecoin supply on the network has climbed to nearly $797 million. Bridged assets exceed $2.4 billion.
Context and competition Robinhood Chain is built as an Ethereum Layer-2 using Arbitrum’s Orbit framework. The public testnet went live on February 10, 2026, giving the team roughly five months of testing before the mainnet launch on July 1.
While the daily fee number topped Solana, Base, and Ethereum on August 31, the 30-day view tells a more nuanced story. Over that longer timeframe, Robinhood Chain still trails established fee leaders like Canton and Tron.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The two-month-old Arbitrum network ranked second among all chains by decentralized exchange volume over 24 hours, ahead of Ethereum, BNB Chain and Base, with its memecoin launchpad earning almost three times what pump.fun did.
Robinhood Chain settled more decentralized exchange volume over the past 24 hours than Ethereum, BNB Chain and Base, ranking second among all networks behind Solana, as the launchpads running on it took close to 70% of the fees paid to launchpads across crypto.
The chain Robinhood built to trade tokenized equities is now the main venue for memecoin issuance. Pons, a launchpad that exists only on Robinhood Chain, has earned more in daily fees than Solana's pump.fun every day since Aug. 29, and its take is climbing while pump.fun's holds flat.
Robinhood Chain recorded $1.49 billion in DEX volume over 24 hours, up 6.2% from the prior day, 131.1% over seven days and 517.4% over 30 days, according to DefiLlama.
Solana led with $2.5 billion, followed by Robinhood Chain, Ethereum at $1.3 billion, BNB Chain at $1.12 billion, Base at $878.8 million and Hyperliquid at $446.9 million. The chain has processed $7.25 billion over seven days and $17.75 billion over 30 days.
Pons Passes Pump.funPons collected $4.89 million in fees on Aug. 31, the most recent full day, against $1.72 million for pump.fun. That gave Pons 63.9% of the $7.65 million paid to launchpads across crypto that day and pump.fun 22.5%, DefiLlama data shows. Launchpads deployed on Robinhood Chain took about 70% between them.
Pons had led pump.fun on daily fees once before, on six days in late July, then fell behind for a month. Its largest day is Aug. 30, at $5.34 million. The protocol has earned $21.04 million over seven days and $31.03 million over 30 days.
In the 30 days to Aug. 11, pump.fun held 42.2% of launchpad fees and Pons had earned $19.8 million since its July 13 launch, as The Defiant reported when pump.fun's share recovered above half following a July slump to 26.7%. Pons shipped its V2 contracts on Aug. 3.
V2 charges a launch fee plus a swap fee on both the bonding curve and the Uniswap V4 pool a token graduates into, with the rates set per launch and readable onchain rather than published. The protocol takes its cut first, a slice of the remainder buys back the launched token where the creator has enabled it, and the rest goes to the creator, according to the V2 documentation. Bought-back tokens vest over five years, split between creator and protocol. Buys in a token's first five seconds carry a tax starting at 99% that decays to zero, a check on snipers.
Every other launchpad on the chain is far smaller. On Aug. 31, Pons V1 took $508,139, NOXA Fun $142,924, o1 Exchange's launchpad $141,382, LetsCash $47,925 and Uniswap Labs' Pools.trade $38,553. Pools.trade, which out-launched Pons on its first day on Aug. 5, charges 0.25% per trade and nothing to launch a token.
PONS traded at $0.4352 on Tuesday, up 6% over 24 hours, 363.4% over seven days and 1,554.6% over 30 days, for a market capitalization of $309.9 million and a rank of 129, according to CoinGecko. The token set an all-time high of $0.4933 at 07:32 UTC on Sept. 1 and turned over $98.8 million in the past day.
ETH traded at $2,437.87, down 1.1% over 24 hours.
Uniswap V4's Largest HomeRobinhood Chain is where most Uniswap V4 trading now happens. The deployment there handled $720.3 million over 24 hours, 51% of the $1.42 billion Uniswap V4 processed across all chains and more than three times the volume of the Arbitrum One chain Robinhood Chain settles to. Uniswap V3 on Robinhood Chain added $486.5 million, and the two together account for 81% of the chain's DEX volume.
Pons V2's own pools traded $86.5 million over 24 hours and $309.7 million over seven days.
Robinhood's Cut Is GasNone of the application fees accrue to Robinhood. The company earns transaction gas fees, which DefiLlama tracks separately at $2.13 million over 24 hours. Chain revenue, net of Ethereum L1 execution and blob costs and the 10% fee share owed under the Arbitrum Expansion Program license, was $1.92 million. That share splits 8% to the Arbitrum DAO treasury and 2% to development funding.
Applications on the chain earned $14.3 million in fees and kept $3 million in revenue over 24 hours on DefiLlama's app series, which excludes stablecoin issuers, liquid staking and gas fees, the categories that produce most of Ethereum's onchain income. Robinhood Chain passed Ethereum on that measure on Aug. 29 and has stayed ahead since.
From Stock Tokens To MemesRobinhood launched the chain's mainnet on July 1 alongside 24/7 stock tokens, onchain lending and plans for agentic trading, pitching the network as infrastructure for tokenized securities. Memecoin trading arrived in week one, and CEO Vlad Tenev said the chain works for memes too after earlier skepticism.
The two use cases then merged. Launch platforms began pairing memecoins with tokenized equities, and by late July Robinhood Chain carried more tokenized stock volume than Solana's venues combined. The chain passed Base on daily active users three weeks after launch.
Total value locked on Robinhood Chain stands at $738.7 million, up 3.9% over 24 hours, against $48.85 billion on Ethereum, $5.79 billion on Solana and $5.53 billion on Base. Stablecoins on the chain total $796.7 million, up 7.8% over seven days.
Onchain figures via DefiLlama as of 16:15 UTC on Sept. 1. Prices via CoinGecko.
Arch Lending now accepts PAX Gold and Tether Gold as collateral, opening credit access to a class of investors that have largely sat outside digital-asset lending.
As gold’s recent run higher has renewed interest in the metal as a store of value, Arch Lending, the alternative-asset lending platform operated by ChainFi, Inc, today began accepting PAX Gold (PAXG) and Tether Gold (XAUT) as loan collateral at starting loan-to-value ratios of up to 75%.
Borrowing Against Gold Is Already Happening Demand for credit against tokenized gold is documented rather than theoretical. On January 29, 2026, Aave governance data showed $24.99 million in outstanding debt against a $25 million isolated debt ceiling for Tether Gold, effectively full utilization, with the ceiling raised repeatedly in the following weeks as borrowing continued to fill available capacity.
That activity took place on a decentralized, DeFi protocol, at variable rates, without fiat funding or a regulated custodian. Arch Lending is the first institutional-grade lender to offer the same underlying trade through a regulated, custodial structure: fixed 12-month terms, funding in dollars or USDC, and eligible collateral custodied by Anchorage Digital, a federally chartered bank.
PAXG, issued by Paxos Trust Company, represents one fine troy ounce of gold from an LBMA-accredited London Good Delivery bar held in Brink’s vaults. XAUT, issued by TG Commodities Limited, represents one fine troy ounce from a London Good Delivery bar held in Swiss custody. Together they account for the overwhelming majority of a category that generated $90.7 billion in spot trading volume in the first quarter of 2026, according to CoinGecko, surpassing the $84.64 billion recorded across the whole of 2025.
A New Class of Borrower Arch Lending is targeting a profile that has largely sat outside crypto lending: gold investors, wealth advisors, commodities traders, family offices, and corporate treasuries with existing precious-metals allocations.
“We’re seeing real demand from advisors and family offices with a gold sleeve who have never borrowed against it, because the process was slow and usually ended in a sale,” said Himanshu Sahay, Co-Founder and CTO of Arch Lending. “Tokenization fixed the plumbing. Credit is the part that makes it worth doing.”
Terms Loans start at $250,000, generally with 12-month terms. Rates for monthly-payment loans begin at 9.25% APR between $250,000 and $750,000, comprising 8.50% interest and a 0.75% origination fee, falling to 7.25% APR above $5 million. Rates and fees are subject to applicable state requirements.
$250,000 minimum loan size Up to 75% initial LTV 85% margin-call threshold 90% liquidation threshold Generally 12-month loan structures USD or USDC funding No credit score is used for loan approval. Eligibility requirements apply. No prepayment penalties 24-hour cure window Partial-only liquidation Eligible collateral custodied by Anchorage Digital N.A., which maintains $100 million of insurance coverage through Lloyd’s of London No rehypothecation PAXG and XAUT now sit alongside Bitcoin, Ethereum, Solana, and XRP within Arch Lending’s collateral set, extending Arch Lending’s core Bitcoin-backed platform into a multi-asset credit ecosystem built around premier stores of value.
About Arch Lending Arch Lending is a U.S.-based lending platform that lets holders of alternative assets borrow against their holdings without selling. Supporting Bitcoin, Ethereum, Solana, XRP, PAX Gold, and Tether Gold as collateral.
Russia’s new cryptocurrency law takes effect on September 1, 2026, bringing Bitcoin, Ethereum, and USDT into a regulated market under the Bank of Russia’s supervision. Retail investors can now access the three approved assets through licensed platforms.
But strict purchase limits remain, and crypto payments inside Russia are still banned.
Key Provisions of the Russia Crypto LawThe law, signed by President Vladimir Putin on August 4, 2026, creates a regulated framework for crypto exchanges, brokers, custodians and other market operators.
These businesses will operate under the supervision of the Bank of Russia, with existing market participants given until July 1, 2027, to meet the new licensing requirements.
The law also gives cryptocurrencies legal status as property, allowing owners to seek legal protection over their digital assets.
It also allows exporters and importers to use crypto for international trade payments, giving Russian businesses another way to settle deals amid banking restrictions and sanctions.
Only BTC, ETH and USDT Make the ListThe biggest change for retail investors is the limited choice of assets.
Non-qualified investors can legally buy Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) through licensed domestic intermediaries. XRP, Solana (SOL), Cardano (ADA) and other cryptocurrencies are not included in the current list.
Retail investors must first pass a knowledge test and may purchase up to 300,000 rubles, roughly $3,700, per licensed intermediary per year. Qualified investors face no purchase limit.
However, owning these assets does not mean Russians can spend them freely. Crypto payments for goods, services, rent and other domestic transactions remain banned, with the ruble continuing to serve as the country’s legal tender.
Could Russia’s new rules Boost Bitcoin’s Demand?Russia’s new crypto rules could increase demand for Bitcoin, especially as businesses and large investors gain more ways to use digital assets.
Sberbank expects regulated crypto exchanges to handle up to 4 trillion rubles (about $46.4 billion) in trading volume in their first year.
The bank also plans to accept Bitcoin, Ethereum and USDT as collateral for corporate loans, which could bring more institutional money into the market.
If adoption continues, crypto trading volume in Russia could reach $87 billion by 2029.
Digital Ruble Rollout Starts Alongside Crypto LawThe new crypto rules are part of Russia’s wider digital money push.
Major banks must offer digital ruble wallets, while retailers earning more than 120 million rubles a year must accept payments in the digital ruble.
Story Ends Here
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Key Highlights On August 31, Robinhood Chain recorded an all-time high of $989 million in DEX trading volume within 24 hours The network’s total value locked climbed to an unprecedented $708 million, reflecting a near 100% monthly gain Daily app revenue reached $2.66 million, surpassing both Ethereum and Hyperliquid GMGN, Pons, and Uniswap collectively accounted for 88% of the day’s revenue generation US users still cannot access Stock Tokens on the platform, despite this being a central component of the original vision On August 31, Robinhood Chain achieved an unprecedented milestone with $989 million in decentralized exchange trading volume recorded in just one day. This performance coincided with the network reaching $708 million in total value locked, representing a nearly 100% surge compared to the previous month.
According to DeFiLlama data, Robinhood Chain generated $2.66 million in app revenue over the past 24 hours, surpassing Hyperliquid L1’s $1.7 million and Ethereum’s $1.27 million, and… pic.twitter.com/TwkQ81bqvc
— Wu Blockchain (@WuBlockchain) August 31, 2026
The stablecoin presence on the network expanded as well, climbing to approximately $770 million—a 47% monthly increase.
Daily Revenue Surpasses Major Competitors Data from DeFiLlama reveals that the network pulled in $2.66 million in application revenue during a single 24-hour period. This performance positioned it above Hyperliquid’s $1.70 million and Ethereum‘s $1.28 million. Only Solana registered higher earnings at $5.07 million.
The revenue concentration came from three primary sources. GMGN, a Telegram-based trading bot, generated the largest share with $803,000. Pons, a chain-native token launchpad, brought in $632,000. Uniswap contributed $235,000 following its fee implementation on Robinhood Chain in late July.
These three applications collectively represented approximately 88% of the network’s total app revenue for that day.
When examined over a monthly timeframe, the competitive landscape changes. Hyperliquid has accumulated $53.41 million in 30-day app revenue, while Robinhood Chain generated $23.23 million during the same stretch. The August 31 performance represents a single-day peak rather than a sustained trend reversal.
The Real Source of Trading Activity Robinhood Chain went live on July 1, 2026, operating as an Ethereum Layer 2 solution constructed on the Arbitrum Orbit framework. The platform was marketed primarily around real-world asset tokenization, with emphasis on stock tokens.
However, that use case isn’t fueling the current metrics. GMGN and Pons are attracting memecoin traders and launchpad participants. Robinhood CEO Vlad Tenev referenced this reality in a July statement, noting that the chain “works great for memes too.”
July’s activity centered on memecoin speculation surrounding CASHCAT. August witnessed a transition toward utility and infrastructure tokens. PONS, among the chain’s primary launchpads, experienced explosive growth from a $20 million valuation to over $200 million within 30 days.
Trading pairs that combine memecoins with tokenized stocks now represent approximately 25% of all stock-related volume on the platform. The most prominent example is Artificial Inu matched with tokenized Nvidia, which expanded from a $1.5 million market cap on August 1 to a high of $135 million on August 30.
After deducting Ethereum Layer 1 expenses and Arbitrum program costs, the chain produced $495,000 in net gas revenue on August 31.
A significant constraint persists. Stock Tokens remain inaccessible to US-based users, effectively locking out Robinhood’s primary customer demographic from the platform’s signature offering.
Competition in blockchain-based equity trading is intensifying. Coinbase’s Deribit exchange introduced stock perpetuals in August, while Kraken launched combined US stock and xStock trading capabilities in Europe, demonstrating rapid market evolution.
Goldman Sachs maintains an optimistic outlook on Robinhood stock heading into the latter half of the year.
Kripto para piyasasında büyük yatırımcıların hareketleri yeniden gündeme geldi. Son zincir üstü veriler, kurumsal yatırımcıların Bitcoin ve Ethereum tarafında yüz milyonlarca dolarlık transfer gerçekleştirdiğini gösteriyor. Özellikle merkezi borsalara yapılan yüksek miktarlı ETH transferleri ile Metaplanet’in Coinbase Prime işlemleri dikkat çekiyor.
On-chain verilere göre kimliği açıklanmayan bir kurum, son iki gün içinde toplam 52.739 ETH’yi Binance ve OKX’in de bulunduğu altı merkezi kripto para borsasına taşıdı. Transfer edilen Ethereum’ların toplam değeri yaklaşık 129 milyon dolar seviyesinde bulunuyor.
Ethereum Balinaları Neden Borsalara Transfer Yapıyor? Söz konusu kurumun transferleri, Ethereum tarafındaki en dikkat çekici işlemler arasında yer alıyor. Adreslerde hâlâ 101.561 ETH bulunuyor ve bu varlıkların güncel değeri yaklaşık 249 milyon dolar olarak hesaplanıyor.
Zincir üstü geçmiş, bu Ethereum’ların önemli bir bölümünün 2021 ve 2022 yıllarında Coinbase’den ortalama 1.700 dolar maliyetle çekildiğini ortaya koyuyor. Kurum, varlıkları 2023 yılında staking amacıyla Ethereum ağına yatırdı ve geçen yıl ocak ayında staking pozisyonlarından çıkardı.
Son iki günde ise ETH’ler önce iki farklı cüzdanda bir araya getirildi. Ardından varlıkların farklı merkezi borsalara aktarılması, kripto para yatırımcılarının dikkatini çekti.
Borsalara yapılan büyük transferler tek başına satış anlamına gelmese de yatırımcıların piyasa analizi yaparken izlediği önemli zincir üstü göstergeler arasında bulunuyor.
Cumberland Ethereum’ları Borsadan Çekti Kurumsal kripto işlem şirketi Cumberland’ın işlemi ise aynı dönemde farklı bir tablo ortaya koydu. Şirket, Binance’den yaklaşık 37,66 milyon dolar değerinde 15.390 ETH çekerek söz konusu varlıkları borsa dışındaki cüzdanlarına taşıdı.
Bu işlem, Cumberland’ın Binance üzerindeki Ethereum varlıklarının bir bölümünü kendi saklama adreslerine aktardığını gösteriyor. Böylece aynı zaman diliminde bir kurum merkezi borsalara yüksek miktarda ETH gönderirken, Cumberland Ethereum’larını borsadan uzaklaştırdı.
Bu farklı yönlü hareketler, büyük yatırımcıların kripto para piyasasında aynı stratejiyi izlemediğini ortaya koyuyor. Dolayısıyla tek bir transfer üzerinden piyasanın yönü hakkında kesin sonuç çıkarmak yerine işlem hacmi, cüzdan hareketleri ve fiyat verilerini birlikte değerlendirmek gerekiyor.
Metaplanet 186 Milyon Dolarlık Bitcoin Taşıdı Bitcoin tarafında ise Japon yatırım şirketi Metaplanet’in işlemleri öne çıktı. Şirket, son transferinde yaklaşık 186 milyon dolar değerindeki 2.400 BTC’yi Coinbase Prime’a gönderdi.
Bu işlem, Metaplanet’in gerçekleştirdiği en büyük tek seferlik Bitcoin transferi olarak kayıtlara geçti. Şirketin Coinbase Prime’a son bir hafta içinde gönderdiği toplam Bitcoin miktarı ise yaklaşık 7.200 BTC’ye ulaştı.
Bu transferlerin toplam değeri yaklaşık 720 milyon dolar olarak hesaplanıyor. Söz konusu miktar, Metaplanet’in yaklaşık 43.000 BTC’den oluşan Bitcoin rezervinin yüzde 17’sine denk geliyor.
Metaplanet’in bu büyüklükteki hareketi, kurumsal yatırımcıların Bitcoin stratejilerinin yakından takip edilmesine neden oluyor. Özellikle yüksek miktarlı BTC transferleri, piyasadaki arz ve potansiyel satış baskısına ilişkin değerlendirmelerde önemli bir veri olarak öne çıkıyor.
Kripto Balina Transferleri: Bitcoin Ve Ethereum’u Etkiler Mi? Son işlemler Bitcoin ve Ethereum tarafında balina hareketliliğinin oldukça yüksek olduğunu gösteriyor. Ancak merkezi borsalara gönderilen varlıkların doğrudan satılacağını veya borsadan çıkarılan coinlerin kesin olarak uzun vadeli tutulacağını söylemek mümkün değil.
Bu nedenle yatırımcıların yalnızca transfer büyüklüğüne bakmak yerine işlemin yönünü, geçmiş cüzdan hareketlerini ve ilgili kurumun önceki davranışlarını birlikte incelemesi gerekiyor. Son veriler, kurumsal aktörlerin aynı anda hem borsalara hem de borsa dışı cüzdanlara milyarlarca dolara yaklaşan ölçekte hareketlilik getirdiğini ortaya koyuyor.
Kripto para balinalarının yeni işlemleri, Bitcoin ve Ethereum fiyatlaması açısından önümüzdeki dönemde de önemli bir takip göstergesi olabilir.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Ethereum spot ETFs traded in the US continued to attract investor interest. According to SoSoValue data, a total net capital inflow of $87.68 million was recorded in Ethereum spot ETFs on August 31st, extending the net inflow streak to 11 days.
The largest daily capital inflow was recorded in BlackRock’s Ethereum spot ETF, ETHA. According to the data, ETHA achieved a net inflow of $59.94 million on that trading day. With this figure, the total net capital inflow accumulated since the fund’s launch reached $12.797 billion.
Grayscale’s Ethereum Mini Trust ETF ranked second in net inflows. The product saw net inflows of $13.50 million, bringing its historical total net inflow to $1.924 billion.
The total size of the Ethereum spot ETF market has also reached remarkable levels. According to the data, the total net asset value of Ethereum spot ETFs in the US is recorded at $15.614 billion. The net asset ratio, which shows the ratio of these products to Ethereum’s total market capitalization, is at 5.23 percent.
Ethereum spot ETFs have recorded a total net capital inflow of $13.062 billion since their inception. The uninterrupted net inflow over the past 11 trading days demonstrates continued interest in Ethereum from institutional and traditional finance investors.
BlackRock’s ETHA product continues to stand out in terms of daily and cumulative capital inflows. Total inflows exceeding $12.7 billion highlight its position as one of the leading Ethereum investment tools experiencing strong institutional demand.
ETF inflows in the market are among the closely watched indicators regarding the direction of the Ethereum price. While a sustained series of net inflows is seen as potentially supporting demand in the spot markets, investors will be monitoring capital movements towards funds in the coming days.
*This is not investment advice.
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Injective: No Attack Occurred, Partial Validators Temporarily Jailed Due to Accelerated Upgrade
Injective officials announced that community contributors coordinated an accelerated network upgrade yesterday. As the time required for all validators and ecosystem infrastructure to complete the upgrade exceeded expectations, some validators were temporarily jailed, leading to a temporary dip in the network’s staked amount. Several exchanges also temporarily suspended INJ deposits and withdrawals. Injective stressed that its blockchain network and INJ token remained fully secure throughout the process: the underlying protocol and consensus mechanism were not compromised, user and staked funds suffered no losses or risks, and the network continued processing transactions without any downtime. The official noted that the accelerated upgrade was triggered by attacks on a small number of binary options market applications within the Injective ecosystem. The incident only impacted those applications, and did not exploit the Injective blockchain, protocol, native assets, or consensus mechanism. The attack vector has since been contained and repaired. Injective added that its team is deploying enhanced security mechanisms, real-time monitoring systems, and additional protective measures to identify abnormal activities earlier and reduce the risk of similar incidents recurring.
Hyperliquid’s block trading layer Silhouette has announced the mainnet launch of its RFQ (Request for Quote) trading system, with initial support for xStocks, Payward’s tokenized stock framework. According to the announcement, traders can submit quotes for supported xStocks, receive competitive bids from multiple market makers, and final executed trades settle directly on-chain, with support for 24/7 trading and large-sized orders. This model eliminates the need to build separate order books for each tokenized stock; once trading activity reaches a certain threshold, the assets can also be listed on Hyperliquid’s HyperCore market. Data shows that since its launch in June 2025, xStocks has recorded a cumulative trading volume exceeding $40 billion, with over 200,000 holders, of which nearly $20 billion in volume has been settled on-chain. The current global tokenized stock market size is around $2.53 billion, with xStocks boasting a market cap of ~$620 million, ranking third globally. In addition, Payward announced today that it will tokenize the 100 largest companies by market cap listed on the London Stock Exchange. The first batch of London-listed xStocks is expected to launch in the coming weeks, pending regulatory approval.
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US job openings saw a slight uptick in July, with overall labor demand remaining stable.
U.S. job openings rose slightly in July, signaling that overall labor demand has remained stable in recent months. Data released by the U.S. Bureau of Labor Statistics on Tuesday showed that July job openings climbed from June’s downwardly revised 7.18 million to 7.27 million, versus economists’ median estimate of 7.31 million. The report notes the U.S. labor market is still in the "low hiring, low layoffs" pattern that has prevailed for most of the past few years. Amid geopolitical uncertainty and persistent inflation, employers are cautious about expanding their headcount but reluctant to cut staff easily. The increase in job openings was driven mainly by manufacturing, state and local governments (excluding education), healthcare and social assistance sectors. Meanwhile, layoffs hit their lowest level since January this year, while the quits rate — a measure of the share of workers who voluntarily leave their jobs each month — edged down to 1.9%. Source: Jinshi
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Bessent: The Strait of Hormuz will achieve "alternative shipping routes" within two years, and the US will continue to step up sanctions on Iran.
U.S. Treasury Secretary Scott Bessent noted during a fireside chat at the G20 summit that the U.S. energy sector’s “3-3-3” plan targets crude oil equivalent. Since Trump took office, U.S. daily oil production has risen by 1.6 million to 2.2 million barrels, he added, emphasizing that risks must be mitigated. Bessent also said bypassing the Strait of Hormuz will be achievable within two years, at which point the strait will become “worthless waters” as oil will be transported via onshore pipelines instead of through the strait. When discussing the Iran issue, he pointed out that 85% to 90% of Iranian factories have reconstruction capacity, and Iran may hold the world’s third-largest energy resources. Additionally, the U.S. may announce bank sanctions this week and next, having secured strong support from the European Union, European Central Bank, the U.K., the U.A.E., and Bahrain. The U.S. has adopted a zero-tolerance stance toward Iran, aiming to strangle its economic development, and will also focus on Iran-related aircraft leasing firms. Bessent stated: “We are aware of Iran-related accounts in the British Virgin Islands. Funds stolen from the Iranian people can be returned to them, or Iranian funds can be used to assist terrorism victims.” (Jinshi)
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Bitcoin enters 'Rektember': September has historically been a weak month for the cryptocurrency, with interest rate hike risks likely to suppress its August gains.
Bitcoin kicked off September on a weak note, falling below $78,000. Since 2013, September has been Bitcoin’s worst-performing month on average, with an average decline of around 3% and only five monthly gains, earning it the market nickname "Rektember". However, Bitcoin has posted gains in each of the past three Septembers. It rallied roughly 25% in August, its strongest monthly performance since November 2024, and may face short-term consolidation or even correction pressure. The macroeconomic environment is also weighing on assets. After Federal Reserve Chair Waller delivered hawkish signals at the Jackson Hole Economic Symposium, global bond markets sold off, pushing the U.S. 10-year Treasury yield to as high as 4.784%. Markets currently assign a roughly 66% probability of a 25-basis-point rate hike by the Fed on September 16, and are pricing in potential additional hikes this year. Higher interest rates typically tighten financial conditions, boost the U.S. dollar, and weigh on risk assets like Bitcoin. Meanwhile, persistent tensions in the Middle East have lifted oil prices, with WTI crude trading near $88 per barrel, while gold fell more than 2% on Tuesday. Traditional markets also face seasonal headwinds: since 1975, September is the only month with a negative average performance for the S&P 500 index.
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Elon Musk: AI is expected to significantly boost productivity, which could lift the global economy by 20% to 30%.
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Tom Lee's (@fundstrat) Bitmine (@BitMNR) has added another 53,501 $ETH to its treasury, extending what has become one of the most consistent accumulation streaks in crypto.
65 Weeks Without a Break Bitmine now holds 5,901,112 ETH in total,
At current prices, the position is valued at approximately $14.8 billion.
A Productive Treasury, Not a Passive One
Sources
Crypto Times: BitMine Buys 53,501 ETH in 65th Straight Weekly Purchase
AMBCrypto: BitMine is now 133,900 ETH short of its 5% treasury goal
TipRanks: BitMine Highlights Massive Ethereum Treasury and Staking Revenues
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TLDR Combined leverage on Binance and Bybit fell 90.9%, dropping from $1.12 billion to $102 million between August 22 and August 30. ETH price has stayed near $2,500 despite the sharp drop in derivatives activity. U.S. spot Ethereum ETFs pulled in about $1.5 billion over 10 trading days since August 15. BlackRock’s ETHA fund accounted for roughly $1.02 billion, or 71.9%, of that ETF inflow. Whale wallet 0x2Ea2 moved 40,881 ETH, worth $100.67 million, onto major exchanges over two days. Ethereum’s price has stayed steady near $2,500 even as traders pulled back sharply from leveraged bets. This shift shows the rally now depends more on real buying than on borrowed money.
Between August 15 and August 22, traders piled into leveraged positions as ETH pushed toward $2,500. Combined open interest on Binance and Bybit grew by $1.12 billion in that single week.
Ethereum Price on CoinGecko That trend reversed fast. By August 30, combined leverage on both exchanges had fallen 90.9% to just $102 million.
Binance’s open interest dropped from $843 million to $94 million. Bybit fell even harder, from $277 million to $8 million.
Despite this pullback, ETH held its ground near $2,500. Price did not collapse alongside the leverage.
ETF Inflows Are Replacing Leverage Spot Ethereum ETFs have picked up much of the slack left by fading leverage. U.S.-based funds have seen inflows every session since August 15.
Over that 10-day stretch, these ETFs took in close to $1.5 billion combined. BlackRock’s ETHA fund led the pack by a wide margin.
ETHA alone brought in about $1.02 billion, making up 71.9% of all ETF inflows during this period. At ETH prices between $2,400 and $2,500, that works out to roughly 570,000 to 630,000 ETH bought.
ETF purchases work differently than leveraged trades. They create direct demand in the spot market without adding risk through futures contracts.
A Whale Is Testing That Demand A large ETH holder, wallet 0x2Ea2, has started moving coins onto exchanges. Over two days, it deposited 40,881 ETH, worth about $100.67 million, across Binance, OKX, Bybit, Kraken, and Gate.
One single transfer sent 8,629 ETH to Binance in a single day. Moving coins to an exchange does not confirm a sale, but it does make the coins ready to sell.
This matters because any sales from this wallet could offset some of the buying coming from ETF demand. The wallet still holds 10,506 ETH, worth around $25.52 million, as of the latest data.
If that remaining balance also moves to exchanges, ETF inflows will need to absorb more selling pressure to keep ETH near current levels. That balance, and what happens to it next, is the detail worth watching.
Cryptocurrency prices are broadly consolidating on Tuesday, after the uptrend stalled amid renewed geopolitical tensions in the Middle East last weekend. Bitcoin (BTC)n hovers above $78,000 support as bulls struggle to extend gains. Meanwhile, Ethereum (ETH) and Ripple (XRP) mirror Bitcoin’s neutral-to-bullish outlook, trading above key support levels at $2,400 and $1.35, respectively.
Institutional demand persists as BTC, ETH and XRP consolidateAppetite for risk assets has remained relatively elevated in recent weeks, aligning with strong market sentiment. Based on the Fear & Greed Index, sentiment holds at 69 on Tuesday, improving slightly from 62 the previous day.
This suggests investor greed against the backdrop of last month's fear. If sustained, higher demand for digital asset investment products could cushion headwinds and raise the odds of a renewed recovery.
Crypto Fear & Greed Index | Source: AlternativeBitcoin spot Exchange-Traded Funds (ETFs) saw roughly $217 million in inflows on Monday, following outflows of $202 million last Friday. Cumulative inflows currently stand at $55 billion, while net assets under management average $100 billion, according to SoSoValue.
Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs have printed an extended bullish streak, with inflows totaling $88 million on Monday. Cumulative inflows are now at $13 million, up from $11 million on August 17. This shows that demand remains steady as institutional investors increase exposure.
ETH/USDT daily chartXRP spot Exchange-Traded Funds (ETFs) notched a tenth straight day of inflows, adding nearly $6 million on Monday. Cumulative inflows have reached $1.66 billion, with average net assets under management holding steady at $1.45 billion.
XRP ETF flows | Source: SoSoValueTechnical Analysis: Bitcoin maintains sideways action Bitcoin trades at $78,324, extending its advance well above the main Exponential Moving Averages (EMAs) and keeping a clear bullish near-term bias, suggesting a well-supported uptrend despite the latest consolidation off recent highs.
The Relative Strength Index (RSI) near 70 hovers just below overbought territory, while the Moving Average Convergence Divergence (MACD) indicator remains positive, hinting that bullish momentum is still present but becoming more measured.
BTC/USDT daily chartOn the downside, the first meaningful support zone is the 50-day EMA around $70,046, followed by the 100-day EMA at $69,086, where buyers could defend the broader trend if a deeper pullback unfolds. Further below, the 200-day EMA at $72,351 would act as a more strategic medium-term floor in a larger corrective phase, keeping the overall structure constructive as long as BTC holds above these moving-average layers.
Altcoins technical analysis: Ethereum and XRP face a capped upsideEthereum maintains a bullish near-term bias as price holds well above the 50-day, 100-day and 200-day EMAs, clustered between roughly $2,045 and $2,170, which collectively underpin the advance. The Relative Strength Index (RSI) around 68 remains in bullish territory, close to the overbought threshold, while the MACD has flattened near the zero line, suggesting upside momentum is positive but losing some intensity.
ETH/USDT daily chartImmediate support is at the current pivot area around $2,458, with a deeper cushion from the EMA 200 at $2,168, the EMA 50 at $2,117, and the EMA 100 at $2,047, forming a broad structural demand zone on pullbacks. With no nearby technical resistance on the daily chart, any continuation of the uptrend would likely be driven by fresh buying pressure, although the elevated RSI warns the pair could first consolidate or correct toward the EMA cluster before attempting new highs.
XRP holds above the 200-day EMA at $1.35, keeping the broader structure supported despite the recent pullback from the highs. Shorter-term trend metrics remain constructive, with the 100-day EMA at $1.21 and the 50-day EMA at $1.21 well below spot, while the RSI at 61 suggests bullish but not overextended conditions. By contrast, the MACD has slipped marginally negative, hinting at waning upside momentum rather than a clear trend reversal at this stage.
XRP/USDT daily chartOn the downside, initial support is at $1.37, acting as a near-term pivot, ahead of stronger structural demand at the 200-day EMA around $1.35. A deeper correction would expose the next support band formed by the clustered 100-day and 50-day EMAs in the $1.21 zone. With no significant upside technical reference levels immediately overhead on the daily chart, price action around $1.37-$1.35 will be critical. Holding above the 200-day EMA would keep the bullish bias intact, while a daily close below it would signal a broader loss of trend support.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
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Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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Ethereum price is grinding steadily, but its quiet number masks a much louder signal underneath. BitMine Immersion Technologies, chairman Tom Lee’s crypto treasury vehicle, just made its largest single ETH purchase since June.
BitMine picked up 53,501 ETH worth $131 million, pushing its total stack to 5,901,112 ETH, or valued near $14.8 billion at a $2,511 reference price. That’s 4.9% of Ethereum’s entire circulating supply, putting the firm 98% of the way toward its self-described “Alchemy of 5%” target.
BitMine Adds 53,501 ETH as Holdings Reach 5.90M ETH
BitMine said it acquired 53,501 ETH over the past week, bringing total holdings to 5,901,112 ETH, or about 4.9% of Ethereum’s supply. The company has staked 5,067,309 ETH, roughly 86% of its holdings, with projected annualized… pic.twitter.com/LN80Wu7wLi
— Wu Blockchain (@WuBlockchain) August 31, 2026 The buy also extends an unbroken streak: BitMine has bought ETH every single week since June 30, 2025, now 65 weeks running. Lee says Ethereum has outpaced the S&P 500 by 5,430 basis points this quarter alone.
This accumulation doesn’t happen in a vacuum. ETH momentum has been building since early August, and the technical picture now hinges on whether that institutional bid is enough to force a breakout.
Discover: The Best Crypto to Diversify Your Portfolio
Can Ethereum Price Hit $3,000 This Week?ETH is consolidating around $2,450, inside a range bounded by a low of $2,444 and a high near $2,485 over the past day, tight action for a coin absorbing a nine-figure institutional purchase. Price is consolidating inside a rising wedge just below the critical $2,550 resistance, a level that has rejected two separate breakout attempts already.
Below, support clusters at the 20-day EMA ($2,293.75), Supertrend ($2,212.19), 200-day EMA ($2,161.32), and 100-day EMA ($2,036.88), with price currently holding above all four, a constructive if imperfect setup.
The best scenario is for it to have a clean break above $2,550, which opens a path toward $2,800. Or it could have a continued chop inside the wedge while BitMine’s weekly buying provides a soft floor.
However, the bear case happens if another rejection at $2,550 sends the price back toward the $2,161 200-day EMA. Worth watching before positioning either way.
Agree with Tom Lee’s take? Trade ETH on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop
LiquidChain Targets Early Mover Upside as Ethereum Tests Key LevelsBitMine’s conviction validates the ETH accumulation thesis, but at a $2,459 price point and a $296 billion-plus market cap, the doubling and tripling that early ETH holders saw years ago isn’t realistically on the table anymore. That math is pushing traders further down the risk curve, toward infrastructure plays still in price discovery.
LiquidChain ($LIQUID) is one of the names picking up that flow. LiquidChain is a Layer 3 infrastructure project fusing Bitcoin, Ethereum, and Solana liquidity into a single execution environment with a unified layer where developers deploy once and reach all three ecosystems rather than fragmenting liquidity across chains.
The presale is priced at $0.014951 with $960K raised so far. Core features include Single-Step Execution and Verifiable Settlement, aimed at solving the liquidity fragmentation problem that’s dogged cross-chain trading since day one. P
Research LiquidChain before the round progresses further.
Ethereum price remained trapped between $2,400 support and $2,500 resistance on Sept. 1, with weak trend strength and fading momentum raising the risk of another liquidity-driven pullback.
Summary
Ethereum price traded near $2,460 after falling roughly 1% over the past seven days. The 4-hour ADX dropped to 18.58, showing little strength behind the current price trend. Liquidity is concentrated near $2,410 below price and between $2,540 and $2,550 above it. US spot Ethereum ETFs attracted $87.68 million on Aug. 31 despite ETH’s muted performance. According to data from crypto.news, Ethereum (ETH) price was trading near $2,460 at press time, little changed over the previous 24 hours and down about 1% over the past week. The token had retreated from an Aug. 27 high near $2,564 after buyers failed to extend its late-August breakout.
Trading activity has also cooled. CoinGecko data showed that Ethereum’s 24-hour volume had fallen by about 21% to approximately $11.35 billion, indicating lower participation as the price consolidated.
ETH remains caught between support around $2,400 and resistance extending from $2,500 to $2,565. A break from that range could determine whether the August rally resumes or gives way to a deeper correction.
Ethereum price loses momentum below $2,500 The daily chart shows Ethereum consolidating near the upper end of the advance from its June low of $1,515 to the August high of $2,565.
Ethereum price daily chart — Sep. 1 | Source: crypto.news ETH remains above the 78.6% Fibonacci retracement level at $2,340, which now serves as the main higher-timeframe support. Holding above that level would preserve most of the structure created by the August breakout.
However, momentum has weakened considerably. The daily moving average convergence divergence indicator is close to producing a bearish crossover. The MACD line stands at 143.58, only slightly above the signal line at 143.46, while its histogram has narrowed to almost zero.
Bull-bear power remains positive at 151.75, suggesting buyers have not lost full control. Its bars have nevertheless declined since the initial breakout, showing that bullish pressure is fading as ETH struggles to clear $2,500.
A daily close above $2,565 would invalidate the short-term consolidation and open a path toward $2,600. Continued rejection beneath that area would leave $2,340 exposed, followed by the 61.8% Fibonacci level at $2,164.
4-hour indicators point to range-bound trading Ethereum’s 4-hour chart provides a more neutral outlook. ETH is trading almost directly on the Bollinger Bands’ middle line at $2,456.53, reflecting a balance between buyers and sellers.
Ethereum price 4-hour chart — Sep. 1 | Source: crypto.news The upper band sits at $2,497.62, making $2,500 the first resistance that bulls must reclaim. The lower band at $2,415.44 aligns with the broader $2,400 support area.
The bands have narrowed after expanding sharply during the Aug. 20 breakout. Such compression often precedes a larger move, although it does not indicate which direction the price will take.
The average directional index has fallen to 18.58 from above 60 following the rally. An ADX reading below 20 generally signals that the market lacks a strong directional trend, supporting the case for continued consolidation until ETH moves outside the Bollinger Bands.
Crypto trader Daan Crypto Trades said ETH was trading in a tight area between its weekly 200-day simple and exponential moving averages and a horizontal price level.
$ETH Still sitting in this really tight area between its Weekly 200MA/EMA & Horizontal level.
Pretty sure we'll see this move away from this area soon.
$2.4K & $2.5K levels to watch on the daily closes. The past ~11 days have been closing in between those. pic.twitter.com/Dnj59AEiH0
— Daan Crypto Trades (@DaanCrypto) September 1, 2026 The analyst identified $2,400 and $2,500 as the levels to monitor on daily closes, noting that Ethereum has spent roughly 11 days between them. Under that setup, a sustained close above $2,500 would favor buyers, while a loss of $2,400 would weaken the breakout structure.
Liquidation clusters surround Ethereum price CoinGlass’s one-week liquidation heatmap shows leveraged positions building on both sides of Ethereum’s current price.
Ethereum liquidation heatmap | Source: CoinGlass The largest nearby overhead concentration appears between approximately $2,540 and $2,550. A move into that area could force short positions to close, potentially accelerating an upside test of the $2,565 August high.
Additional liquidity rests around $2,495 to $2,505, reinforcing $2,500 as the first barrier.
On the downside, notable clusters appear around $2,420 to $2,410, followed by another concentration close to $2,390. A break below $2,400 could therefore trigger long liquidations and pull ETH toward the lower liquidity zone.
Liquidation maps identify areas where leveraged positions may be forced to close, but they do not guarantee that the price will reach those levels.
Trader Gerla compared Ethereum’s current position with a former support zone that became resistance during the previous market cycle. The analyst said a repeat of that structure could produce more range trading and a sweep toward $1,900–$2,000 before a larger advance.
The comparison represents a long-term scenario rather than a confirmed target. ETH must first lose $2,340 and $2,164 before the $2,000 area becomes a more immediate technical risk.
US Ethereum ETF inflows offer support Demand through regulated US investment products remains a counterweight to the weak price momentum.
US spot Ethereum ETFs recorded $87.68 million in combined net inflows on Aug. 31, according to SoSoValue data. The session reportedly extended its positive flow streak to 11 trading days.
Source: SoSoValue BlackRock’s iShares Ethereum Trust led the daily total with approximately $59.94 million, while the Grayscale Ethereum Mini Trust added about $13.50 million. The products collectively held approximately $15.61 billion in net assets, equal to 5.23% of Ethereum’s market capitalization.
Persistent ETF inflows suggest US investors are adding exposure despite Ethereum’s failure to move above $2,500. However, price confirmation remains absent while trading volume declines and momentum indicators flatten.
Ethereum’s next directional signal will likely come from a daily close outside the $2,400–$2,500 range. A close above the upper boundary would bring $2,550–$2,565 into focus, while a loss of $2,400 would expose $2,340 and increase the risk of a broader retracement.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The monthly close for Ethereum (ETH) has marked its first higher high since the downtrend started in August last year.
Ethereum’s latest monthly candle closed above a key resistance level around $2,470 on August 31, prompting analyst Matthew Hyland to declare on X that the downtrend that started in August 2025 is over.
He framed the close as the first confirmation that a new bull market has started, comparing the current chart structure to the setups that preceded ETH’s 2016 and 2020 rallies.
ETH’s Monthly Chart Flips Bullish Hyland’s chart runs from ETH’s 2025 peak, hit in August of that year, through a steady run of lower highs and lower lows that bottomed out near $1,500 to $1,600 in June and July of this year.
“ETH confirms a Monthly Higher_High and ends its downtrend that started in August of 2025,” Hyland posted. “The Bears have been slayed. WELCOME TO THE #CRYPTO BULL MARKET!!”
Other traders have been circling the same zone, including DonAlt, who wrote that ETH has “No real resistance till $4k,” pointing to support around $2,100 and warning that a break below $2,000 could send price toward $1,000.
Fellow market watcher Daan Crypto Trades pointed out that ETH has spent the last 11 days pinned between its weekly 200-period moving average and a horizontal support level.
Another analyst, Quantum Ascend, noted that ETH’s monthly candle closed near its 50-month simple moving average with the RSI still deeply oversold, a setup that last showed up in spring 2025, right before the token rallied 3.5x in five months, and he says he’s “expecting a new all-time high” based on the move.
At the time of writing, the second-largest crypto asset was trading above $2,400, up roughly 31% over the past month and 30% in two weeks, while remaining about 50% below its record price of over $4,900 from August last year.
You may also like: BitMine Buys Another 53,501 ETH as Ethereum Stash Blows Past 5.9M 1.4M ETH Gone From Exchanges Since June as BTC Moves in Reverse $5,000 Ethereum? Analyst Identifies the Levels That Could Decide ETH’s Next Move Network Activity Adds Another Piece ETH’s price recovery is happening alongside increased network activity. As CryptoPotato reported, Ethereum is approaching 1 million active addresses, despite substantial activity taking place across Layer 2 networks.
That gives the price move some additional context, although active addresses alone cannot establish whether ETH has entered a new long-term cycle. Tron, for example, has more than 4 million active addresses, largely linked to payments and stablecoin transfers.
For now, the cleanest test of Hyland’s thesis is whether ETH can hold the $2,470 breakout area. A sustained move above it would leave the $4,000 region as the next major target cited by traders, while a failure below $2,000 would considerably weaken the bullish structure.
More on Ethereum can be found in our market video below:
ARK Invest and Glassnode have released a joint white paper titled “The Decentralization Spectrum: Design Tradeoffs In Digital Assets,” offering what amounts to a report card for the three largest Layer-1 blockchains. The research evaluates Bitcoin, Ethereum, and Solana across four design features and six measurable dimensions, building a comparative framework that treats decentralization not as a binary quality but as a sliding scale shaped by deliberate architectural choices.
What the framework actually measures The report maps each network against four distinct design features and six quantifiable dimensions to assess decentralization, security, and resilience. Bitcoin, Ethereum, and Solana each make fundamentally different engineering decisions. Bitcoin prioritizes simplicity and security through its proof-of-work consensus. Ethereum balances programmability with decentralization through its proof-of-stake transition. Solana optimizes for speed and throughput, which inherently requires different compromises.
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The white paper’s core argument is that these aren’t accidental differences. They’re deliberate tradeoffs, and understanding them requires looking at verifiable network properties rather than market narratives or token prices. This aligns with the long-running blockchain trilemma discussion, which holds that networks can optimize for at most two of three properties: decentralization, scalability, and security.
A partnership years in the making ARK Invest and Glassnode have been working together since at least 2021, when Cathie Wood’s firm began deepening its reliance on on-chain analytics as part of its broader digital asset research strategy. Earlier joint efforts focused primarily on Bitcoin fundamentals, using Glassnode’s data infrastructure to evaluate network health independent of price action.
Glassnode’s role as a blockchain data and intelligence provider gives the partnership its empirical backbone, supplying metrics and tools designed for institutional-grade stakeholders. Expanding the scope from Bitcoin-only analysis to a three-chain comparative study signals a meaningful evolution, suggesting that ARK views Ethereum and Solana as warranting the same level of fundamental scrutiny it has historically reserved for Bitcoin.
Why institutions care about decentralization metrics Decentralization isn’t just a philosophical preference. It directly affects a network’s censorship resistance, its vulnerability to single points of failure, and its regulatory risk profile. The report’s emphasis on verifiable network properties over price-driven metrics represents a notable shift in how digital assets get evaluated in institutional contexts.
This also feeds into the growing regulatory conversation around what constitutes sufficient decentralization. Regulators in the US and elsewhere have signaled that a network’s degree of decentralization may influence how its associated tokens are classified. Research that quantifies these properties gives both issuers and investors a more defensible basis for those arguments.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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Elon Musk: AI is expected to significantly boost productivity, which could lift the global economy by 20% to 30%.
Elon Musk stated in his speech at the G20 summit that he expects artificial intelligence to significantly boost productivity, noting that AI could lift the global economy by 20% to 30%.
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Bonk Guy today issued a buy call for USELESS, with the token rallying over 50% in 24 hours and its market cap rising to $104 million.
According to GMGN data, Solana ecosystem meme coin USELESS has rallied over 50% in 24 hours, now trading at $0.1051 with a market cap of $104 million. On the news front, earlier today, the figure known as "Bonk Guy" reflected on his meme coin trading track record, disclosing he once traded BONK with 6x leverage for $16,000 and pocketed over $20 million in profits. Though he later gave back all those accumulated gains on October 10, this isn’t his only high-value trading win. He added that during the last cycle, he also grew funds ranging from low five to six figures to over $5 million to $10 million via trades of meme-related tokens including DOGEGOV, MAGA, and Roaring Kitty. Unipcs also noted that his current bullishness on USELESS is even stronger than when he traded BONK in 2023, pointing out that USELESS previously surged from a market cap of around $4 million to $450 million outside of a bull market, and could see even larger upside if it experiences a genuine bull market for the first time in the future.
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Open-source Agent framework Pi hits 100,000 stars, v2 coming soon.
Beating AI News Brief: Pi’s GitHub Repository Surpasses 100,000 Stars, Official Teases Upcoming Pi v2. Pi is an open-source Agent harness that also provides a terminal Coding Agent. Over the past month and a half, Pi has been rewriting its underlying Agent runtime framework. At the end of July, it first unveiled Harness v2, adding key features including task persistence, crash recovery, and multiple execution lanes. Shortly after this design was integrated into official APIs in early August, the team began work on Harness v3, which involved a full redesign of storage and runtime states. The v3 work was later consolidated into the current unified harness.md. The new Harness is designed to let Agents resume from their last safe state even if the process crashes mid-execution, and support parallel execution of multiple Agent tasks on the same session history. The current dev branch still has hundreds of commits not yet merged into main, with the new Harness under rapid development.
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Token 'Niulai' plunges over 21% in 24 hours, market cap falls to $87 million.
According to GMGN market data, the BSC-based meme coin "Niu Lai" has fallen more than 21% in 24 hours, with its market capitalization dropping to $87 million. BlockBeats reported yesterday that all screenings of the movie "Niu Lai" have been extended to 23:59 on October 4, 2026. As of press time, the film "Niu Lai" has accumulated a box office (including pre-sales) of over 60 million yuan, and AI forecasts its total box office will exceed 69 million yuan.
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US crypto-related concept stocks saw their intraday declines widen, with PURR plunging more than 7%.
According to market data from BIT (bit.com), US-listed cryptocurrency-related stocks saw their intraday declines widen, with MSTR down 6.12%, CRCL down 5.94%, COIN down 4.53%, BMNR down 5.73%, SBET down 5.16%, and PURR down 7.02%.
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Bitunix launches On-Chart Order Preview feature
Bitunix has officially launched the On-Chart Order Preview feature, allowing users to preview entry prices and estimated liquidation prices for long and short positions directly on the K-line chart before placing an order. Users can adjust prices in real time by dragging the preview line, with order details in the order panel updating simultaneously. This feature gives users a clearer view of their positions before executing trades, enabling intuitive understanding of entry points and liquidation risks, and effectively reducing operational errors. This update marks another key step in Bitunix’s ongoing optimization of its chart trading experience, further advancing the platform’s core concepts of Ultra Products and Ultra Experience.
TLDR Ethereum trades at $2,471.16, up 2.25% in the last 24 hours. ETH gained 32.8% over the month of August. Price sits above the $2,247.57 Bollinger Band mid-line, a bullish sign. Whale address 0xF626 moved 102,913 ETH ($248.6M), sending part of it to exchanges. Open interest topped $30 billion as trading volume crossed $90 billion in August. Ethereum is trading at $2,471.16 at press time, up 2.25% over the past 24 hours. The gain follows a strong month for the token.
Over the course of August, ETH rose by 32.8%. That climb has kept traders watching closely for what comes next.
The price is currently holding above the $2,247.57 middle line of its 20-day Bollinger Bands. Staying above this line is generally seen as a sign of underlying strength.
Ethereum Price on CoinGecko Even with some sideways movement in recent days, the August gain has kept the broader setup favorable for buyers. Chart watchers point to $2,084.23 as a key support level below.
Ethereum needs to hold above that support to keep its current setup intact. A drop under it could shift the picture.
On the upper end, the top line of the Bollinger Bands sits at $2,783.71. This level is acting as resistance for any further upward move.
The Relative Strength Index (RSI) for ETH is at 69.13. That is just under the traditional overbought threshold of 70.
A high RSI reading like this points to strong buying interest. It also means there is limited room left before the market becomes stretched, which could add volatility if ETH pushes toward $2,783 without fresh buying support.
Whale Moves 100,000 ETH On-chain tracker Lookonchain flagged a large wallet movement tied to address 0xF626. The account received 102,913 ETH, worth about $248.6 million, before sending 2,858 ETH, worth roughly $7 million, to exchanges.
Lookonchain wrote on X, “Whale 0xF626 is selling 102,913 $ETH ($248.6M),” noting the exchange deposit had happened about 20 minutes before the post went out.
After that transfer, the wallet still holds 100,055 ETH, worth close to $241.6 million. There is no confirmation yet that the whale plans to sell the rest of its holdings.
Large transfers like this one can add selling pressure if more ETH follows the same path to exchanges. For now, only a small portion of the total balance has moved.
Derivatives Activity Climbs Data from Coinglass shows open interest for Ethereum has passed $30 billion. Trading volume also crossed $90 billion during the August rally.
Those figures point to heavy activity in ETH derivatives markets alongside the price move. Traders are using this data to gauge whether the rally has more room to run.
A move above $2,783.71 would strengthen the current bullish structure for ETH. A break below $2,247.57 would weaken it instead, and traders are watching both levels closely as the month begins.
A two-month-old Layer 2 built by a stock brokerage is now processing more daily decentralized exchange volume than chains that have existed for years, and the market is only beginning to pay attention.
Summary
Robinhood Chain recorded roughly $945 million in daily decentralized exchange volume on Aug. 25, 2026, a new all-time high for the network and nearly double its previous record of $563 million set on July 8. The chain, which launched its public mainnet on July 1, has processed more than $47 billion in cumulative DEX volume in under two months, placing it fifth among all chains by 30-day volume at $15 billion. Uniswap serves as the dominant trading venue on the chain, and cumulative tokenized stock volume through Uniswap surpassed $1 billion by Aug. 21. Total value locked on Robinhood Chain surged from $4 million in June to roughly $1.4 billion by late August, a trajectory that no Ethereum Layer 2 has matched at this stage of its lifecycle. The 90-day gas subsidy that covers transaction fees through the end of September 2026 raises a central question: whether volume holds once users start paying for their own trades. How Robinhood built a top-five chain in 56 days Robinhood Chain is an Ethereum Layer 2 built on Arbitrum Orbit, the chains-as-a-service framework that runs on the Nitro stack. It settles directly to Ethereum and uses Ethereum blobs for data availability. Block times run at 100 milliseconds, faster than Arbitrum One at 250 milliseconds and Monad at 300 milliseconds. The gas token is ETH.
The mainnet went live on July 1 at Robinhood’s “The World is Flat” keynote at the Old Royal Naval College in London. Within eight days, Uniswap swap volume on the chain had reached $500 million. By July 11, the chain was processing 7.6 million daily transactions and had recorded $3.1 billion in DEX volume in its first week alone.
By the end of July, Robinhood Chain had topped Ethereum in 24-hour application revenue. It had briefly surpassed Base in daily active users, logging 324,000 wallets against Base’s 275,000 on July 21. And it had placed itself in the top five chains globally by 30-day DEX volume, sitting behind Solana, BNB Chain, Ethereum, and Base with roughly $15 billion in monthly throughput.
For context, Arbitrum One’s 30-day DEX volume during the same period was roughly one-quarter of that figure. Robinhood Chain, using the same underlying technology, was running four times the volume of the chain it forked from.
The volume breakdown: what is actually trading The Aug. 25 record was not driven by a single asset class. Three distinct categories of activity converged on the same day.
The first was memecoin speculation. Pons, a token launched through the chain’s launchpad ecosystem, accounted for roughly half of all DEX volume at its peak. CASHCAT, Robinhood Chain’s first breakout memecoin, had previously hit a $156 million market cap before Pons overtook it in late July. On Aug. 30, Pons alone contributed $445 million of the chain’s $874.8 million in volume that day, demonstrating the degree to which a single venue can dominate chain-level metrics.
The second was tokenized equities. Robinhood launched Stock Tokens as a flagship product at mainnet, offering ERC-20 representations of stocks like NVIDIA, Apple, GameStop, and SpaceX that trade around the clock in more than 120 countries. These tokens give holders economic exposure to the underlying stock rather than legal ownership of shares. By Aug. 21, cumulative tokenized stock volume through Uniswap had surpassed $1 billion. A tokenized Nasdaq-100 tracker called QQQB drove 288 percent of July’s tokenized equity volume, suggesting heavy concentration in index products.
The third was leveraged derivatives. Arcus launched pTokens on Aug. 25, wrapping leveraged perpetual accounts into transferable ERC-20 tokens including pBTC3x and pHOOD3x. The platform also began accepting tokenized stock collateral at a 50 percent loan-to-value ratio, creating a direct bridge between equity exposure and leveraged crypto trading that has no equivalent on any other chain.
The timing of the Aug. 25 spike also mattered. Bitcoin had rallied sharply since Aug. 17 on what Bloomberg called a record $2.7 billion wave of short liquidations, the largest since records began in 2021. A White House crypto meeting and a U.S. Treasury move to double long-dated bond buybacks added fuel. Bitcoin reached near $81,500 and Ether gained nearly 29 percent in a single week. That macro tailwind lifted activity across every chain, but Robinhood Chain captured a disproportionate share because its zero-fee environment made it the path of least resistance for traders looking to rotate quickly between assets.
The stablecoin layer underneath the trading activity tells its own story. Stablecoin market capitalization on Robinhood Chain reached $640 million by late August, with USDe from Ethena accounting for the bulk of inflows. Robinhood Earn, a decentralized lending product launched alongside the mainnet, offers an estimated 7 percent yield on USDG, the stablecoin developed in partnership with Paxos. The yield product serves as an anchor for capital that might otherwise leave the chain between trading sessions, giving the ecosystem a retention mechanism that pure trading chains typically lack.
The infrastructure advantage Robinhood brought to the table Most Layer 2 networks launch with a technical thesis and then spend months or years trying to attract users. Robinhood reversed the sequence. The company brought 27 million funded brokerage accounts, an existing mobile wallet, a compliance infrastructure built over a decade of regulatory engagement, and a brand that, whatever crypto natives think of it, is synonymous with retail trading for an entire generation of investors.
CEO Vlad Tenev framed the ambition in a recent interview: “Crypto is becoming the infrastructure that powers financial markets.” On Aug. 7, he described Robinhood Chain as the fastest-growing chain in history, noting that it reached 100 million cumulative transactions faster than any other network. Bitmine Chairman Tom Lee separately called the launch “one of the biggest crypto success stories” of 2026.
The revenue model also differs from most Layer 2 networks. Under the Arbitrum Expansion Program, 8 percent of chain revenue goes to a treasury controlled by governance token holders and 2 percent funds a developer guild. Robinhood keeps the rest. In July alone, the chain generated roughly $3.6 million in transaction fees, making it the top revenue-producing Layer 2 across the entire Ethereum ecosystem at 38 percent of the estimated $6.3 million in total L2 fees collected that month.
The company’s Q2 2026 earnings, reported on July 29, showed total revenue of $1.31 billion, beating Wall Street estimates. Net income rose 48 percent year over year to $573 million. Robinhood is not a startup hoping its chain will subsidize losses. It is a profitable company with a stock trading above $100 that can afford to invest in chain infrastructure without needing the chain itself to be immediately profitable.
The gas subsidy question The single most important variable in Robinhood Chain’s near-term trajectory is the 90-day gas fee subsidy that covers all transaction costs through the Robinhood Wallet. The promotional period, which began at mainnet launch on July 1, runs through approximately Sept. 29, 2026.
In mid-August, Robinhood reduced the subsidy threshold from $5 per transaction to $0.50, a 90 percent cut that suggests the company is already tapering the benefit rather than cutting it off all at once. The move signals a gradual transition rather than a cliff.
But the subsidy has clearly inflated activity metrics. When transactions cost nothing, the friction that normally separates casual browsing from actual trading disappears. The 16,000 new tokens created daily at peak memecoin activity in July were possible in part because launching a token was free. The 5.5 million daily transactions on Aug. 25 included activity that would not have occurred at even minimal gas costs.
The precedent from other chains is mixed. Base launched with heavily subsidized gas and retained strong activity after costs normalized, in part because Coinbase’s distribution kept funneling users to the network. Blast, by contrast, saw activity crater after its incentive programs wound down. The question for Robinhood Chain is whether the brokerage’s 27 million accounts provide a durable demand floor that subsidies merely accelerated, or whether the subsidy itself created demand that will not survive its removal.
There is a middle scenario that the binary framing obscures. Volume could fall significantly from the Aug. 25 peak and still leave Robinhood Chain as a top-ten chain by DEX activity. A 60 percent drop from $945 million would still produce roughly $380 million in daily volume, which would place it ahead of most Layer 2 networks even without subsidies. The relevant question is not whether volume declines after the subsidy ends, because it almost certainly will, but whether the floor is high enough to sustain the ecosystem’s economic model.
The corporate chain land grab Robinhood Chain did not launch into a vacuum. It entered a market where every major financial technology company appears to be building its own chain. Coinbase has Base. Stripe acquired Bridge and is building payment infrastructure on it. Circle launched a new standard for stablecoin interoperability. Robinhood followed with its own Arbitrum-based rollup.
The pattern is clear: consumer fintech companies have concluded that owning the execution layer is more valuable than renting space on someone else’s chain. The economics are straightforward. A chain operator captures sequencer revenue, controls the fee schedule, and can subsidize specific types of activity to drive adoption. A tenant on another chain pays whatever fees the market demands and has no control over the user experience at the infrastructure level.
The comparison to Base is instructive. Base launched in August 2023 and has had three years to build its ecosystem. Its total value locked stands at roughly $5.47 billion as of late August 2026, compared to Robinhood Chain’s roughly $1.4 billion. Base processes more daily transactions on average. But Robinhood Chain closed the gap on several metrics in weeks rather than years, briefly surpassing Base in daily active users and consistently ranking within striking distance on DEX volume.
The difference is maturity versus momentum. Base has accumulated three years of liquidity, developer tooling, and protocol deployments. Robinhood Chain has a brokerage with 27 million accounts and a product, tokenized equities, that no other chain offers at the same scale.
The DEX-to-CEX ratio and what it means Robinhood Chain’s volume spike arrived during a broader structural shift in crypto trading. In July 2026, decentralized exchanges handled spot volume equal to 24.14 percent of centralized exchange volume, the highest ratio since The Block began tracking the metric in 2019. The ratio has roughly tripled in under three years, rising from below 10 percent for most of 2024 to its current level.
The irony is that the shift is being driven in part by centralized companies. Robinhood, a centralized brokerage, is routing volume through a decentralized exchange layer. Coinbase, a centralized exchange, is doing the same through Base. The line between centralized and decentralized finance is blurring in ways that do not fit neatly into the narratives that either side prefers.
For Robinhood specifically, the chain creates a flywheel that its centralized app cannot replicate. Stock Tokens traded on Uniswap generate fees that flow back to the Robinhood Chain ecosystem. Users who start with tokenized equities discover memecoin trading, lending protocols, and leveraged products. The chain becomes a surface area for financial experimentation that a regulated brokerage app cannot legally offer through its primary interface.
This is the strategic logic that the market has largely missed. Robinhood Chain is not a marketing exercise. It is a mechanism for Robinhood to offer products and services that its regulated brokerage cannot provide directly, while still capturing economic value from the activity.
The concentration risk The bull case for Robinhood Chain is compelling, but the data also reveals structural vulnerabilities that the headline volume numbers obscure.
On Aug. 30, a single protocol, Pons, generated 51 percent of the chain’s $874.8 million in daily volume. When one venue does half of all throughput, the chain’s activity metrics become a proxy for that venue’s performance rather than a measure of ecosystem health. If Pons loses momentum, the chain’s volume numbers could drop by half overnight without any change to the underlying infrastructure.
The tokenized equity market, while growing, remains concentrated as well. QQQB, a single Nasdaq-100 tracker, drove the majority of July’s tokenized stock volume. A dozen stocks clear at least $500,000 in daily volume, but the breadth of adoption is still narrow relative to the potential market.
Total value locked tells a similar story. Robinhood Chain’s TVL has surged to $1.4 billion, but this remains roughly one-quarter of Base’s $5.47 billion. The chain’s TVL-to-volume ratio is unusually high, meaning it generates more trading activity per dollar locked than most chains. That can be read as capital efficiency or as evidence that volume is being amplified by zero-cost transactions and speculative turnover rather than deep, sticky liquidity.
Stock Tokens also remain unavailable to U.S. residents, which excludes the majority of Robinhood’s 27 million funded accounts from the chain’s flagship product. The addressable market for tokenized equities is currently limited to users outside the United States, a significant constraint on growth.
The reflexive fee structure on Pons adds another layer of fragility. Eighty percent of the protocol’s fees fund automated token buybacks and burns. By Aug. 29, 29 percent of the original one billion token supply had been retired. That mechanism creates a self-reinforcing loop in rising markets: higher volume generates more fees, which fund more burns, which reduce supply, which pushes prices higher, which attracts more volume. In falling markets, the same loop works in reverse. Volume drops, burns slow, the supply compression narrative weakens, and traders move to the next opportunity. Chains built on reflexive tokenomics tend to experience sharp drawdowns when sentiment shifts.
What Robinhood Chain means for Ethereum Robinhood Chain settles to Ethereum. Every transaction on the chain ultimately posts data to the Ethereum mainnet through blobs. This means that Robinhood Chain’s activity, all $47 billion of it, contributes to Ethereum’s security budget and reinforces the network’s role as a settlement layer.
For Ethereum, the emergence of corporate-backed Layer 2 networks is a double-edged development. On one side, chains like Robinhood and Base bring millions of users into the Ethereum ecosystem who would never interact with the mainnet directly. They generate blob fees, consume blockspace, and create economic gravity around ETH as a gas token.
On the other side, these chains capture most of the value at the execution layer. Robinhood keeps the bulk of sequencer revenue, sharing only 10 percent with the Arbitrum ecosystem. The users on Robinhood Chain may never know or care that Ethereum exists underneath. The settlement layer becomes invisible infrastructure, essential but unrewarded relative to the activity it supports.
This dynamic is already visible in the fee data. Robinhood Chain surpassed both Ethereum and Base in 24-hour application revenue on Aug. 31, recording $2.66 million. The chain built on Ethereum is generating more application-level revenue than Ethereum itself on certain days.
The tension between Layer 2 growth and Layer 1 value capture is not unique to Robinhood Chain, but the scale makes it unusually visible. Ethereum’s blob fee revenue from all Layer 2 networks remains a small fraction of what those networks generate in sequencer revenue. The argument that Layer 2 activity is inherently good for Ethereum depends on the assumption that demand for blob space will eventually drive meaningful fee revenue back to the mainnet. At current utilization levels, that assumption remains unproven. Robinhood Chain’s success makes the question more urgent without answering it.
The September test The gas subsidy expires at the end of September. Between now and then, several developments will clarify whether Robinhood Chain’s trajectory is sustainable.
Arcus is expanding its leveraged product suite, adding new pToken pairs and increasing collateral types. If leveraged trading generates durable volume independent of the gas subsidy, it would suggest that the chain has found a product-market fit that goes beyond free transactions.
The DTCC is scheduled to launch tokenized securities infrastructure in October, which could either validate or undermine Robinhood’s first-mover advantage in tokenized equities. If institutional players enter the market with competing infrastructure, the value proposition of Stock Tokens may shift.
And Robinhood itself will face a decision about whether to extend, modify, or eliminate the gas subsidy. The company’s financial position gives it the flexibility to continue subsidizing transactions if it believes the long-term economics justify the cost. With $573 million in quarterly net income, a few million dollars in gas subsidies is a rounding error on the income statement.
What to watch What is Robinhood Chain? Robinhood Chain is an Ethereum Layer 2 blockchain built on Arbitrum Orbit technology. It launched its public mainnet on July 1, 2026, and uses ETH as its native gas token. The chain settles directly to Ethereum and features 100-millisecond block times. Its flagship products include tokenized Stock Tokens, decentralized exchange trading through Uniswap, and lending through protocols like Morpho.
How much DEX volume does Robinhood Chain process? On Aug. 25, 2026, Robinhood Chain recorded roughly $945 million in daily decentralized exchange volume, a new all-time high. The chain has processed more than $47 billion in cumulative DEX volume since launching on July 1. Its 30-day volume of approximately $15 billion places it fifth among all blockchain networks, behind Solana, BNB Chain, Ethereum, and Base.
What are Stock Tokens on Robinhood Chain? Stock Tokens are ERC-20 tokens that track the price of publicly traded equities like NVIDIA, Apple, GameStop, and SpaceX. They give holders economic exposure to the underlying stock rather than legal ownership of shares. Stock Tokens trade around the clock in more than 120 countries through decentralized exchanges like Uniswap on Robinhood Chain. They are currently unavailable to U.S. residents.
Is there a Robinhood Chain token? No. Robinhood has not issued a native governance or utility token for Robinhood Chain. The network uses ETH for gas fees. While several community-created tokens like CASHCAT and PONS trade on the chain, none of these are officially affiliated with Robinhood.
How does Robinhood Chain compare to Base? Base, built by Coinbase, launched in August 2023 and has roughly $5.47 billion in total value locked compared to Robinhood Chain’s $1.4 billion. Base processes more daily transactions on average and has a more mature ecosystem of developer tools and protocols. However, Robinhood Chain closed the gap on several metrics within weeks, briefly surpassing Base in daily active users and ranking within striking distance on daily DEX volume.
What is the gas subsidy on Robinhood Chain? Robinhood covers transaction fees for users trading through the Robinhood Wallet on Robinhood Chain. This 90-day promotional period began at mainnet launch on July 1 and runs through approximately Sept. 29, 2026. In mid-August, Robinhood reduced the subsidy threshold from $5 to $0.50 per transaction, signaling a gradual taper rather than an abrupt cutoff.
Who can use Robinhood Chain? Robinhood Chain is a permissionless Ethereum Layer 2, meaning anyone with a compatible wallet can interact with it. However, the tokenized Stock Tokens product is available in more than 120 countries but is not available to U.S. residents. Other DeFi products on the chain, including decentralized exchange trading and lending, are accessible to users globally through wallets like Robinhood Wallet, MetaMask, and others.
How does Robinhood make money from the chain? Robinhood captures sequencer revenue from transactions processed on the chain. Under the Arbitrum Expansion Program, 8 percent of chain revenue goes to a treasury controlled by Arbitrum governance token holders and 2 percent funds a developer guild. Robinhood retains the remaining 90 percent. In July 2026, the chain generated roughly $3.6 million in transaction fees, making it the top revenue-producing Layer 2 in the Ethereum ecosystem.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions. Information is accurate as of Aug. 31, 2026.
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Pre-Market News Roundup for US Stocks: Morgan Stanley Upgrades Robinhood’s Rating; Apple Officially Announces New CEO; Meta Calls Off Manus Acquisition
Pre-market key news for US stocks on Tuesday: 1. Morgan Stanley upgrades Robinhood, noting the market has undervalued the monetization potential of Robinhood’s existing user base. 2. Hut 8’s Texas data center is reportedly included in Anthropic’s $35 billion AI computing power deal. 3. Meta Platforms (META.O)’ acquisition of Manus has been called off, with the founding team regaining full control, according to reports. 4. Apple (AAPL.O)’ official website updated that John Ternus has officially assumed the role of Apple CEO. 5. Anthropic and Lambda, a cloud service provider backed by NVIDIA, have struck a $35 billion cloud computing deal, with data center leasing rights held by NVIDIA. 6. OpenAI’s advertising business is growing rapidly, with annualized revenue exceeding $1 billion. 7. Per relevant legal documents: Apple (AAPL.O) alleges in its trade secret lawsuit against OpenAI that the defendant used Apple’s proprietary information to train AI agents. 8. U.S. Department of Commerce: Meta Platforms (META.O) CEO Mark Zuckerberg will attend the tech-focused G20 meeting via video conference.
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The US-Canada trade war has fallen into a deadlock, and the Bank of Canada may hold interest rates steady for the seventh consecutive time.
Against the backdrop of escalating US-Canada trade tensions and rising energy prices, markets widely expect the Bank of Canada (BoC) to hold its benchmark interest rate steady at 2.25% this Wednesday, marking the central bank’s seventh consecutive hold. The US has already imposed a 50% tariff on roughly $20 billion worth of Canadian goods, while Canada plans to levy retaliatory tariffs on certain US products starting September 8. Meanwhile, driven by rising oil prices, Canada’s overall inflation rate has climbed to 3%, hitting its highest level since 2023, leaving the BoC facing a stagflation dilemma: tariffs weighing on economic growth while energy costs fuel inflation. While Canada’s annualized second-quarter GDP growth rebounded to 3.3% and over 180,000 jobs were added between May and July, roughly two-thirds of surveyed economists have cut their corporate investment forecasts due to the trade war. Markets now widely anticipate that the BoC’s next rate hike may not come until the first half of 2027.
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Cooling expectations for gold's rally: Prediction markets put the probability of gold hitting $5,000 by year-end at just slightly above 50%
After rising nearly 10% in August, international spot gold has pulled back sharply, with market expectations for further gains cooling significantly. Polymarket data shows the probability of gold hitting $5,000 per ounce by year-end is just over 50%, the chance of reaching $4,500 is almost certain, while the likelihood of hitting $6,000 has dropped to around 13%; the probability of a short-term return to $4,700 is less than one-third. Affected by the Federal Reserve’s hawkish signals, U.S. Treasury yields, and rising oil prices, spot gold fell more than 2% at one point Tuesday to around $4,350 per ounce, a notable pullback from its previous high of roughly $4,697. After Fed Chair Waller delivered hawkish signals at the Jackson Hole Annual Meeting, market bets on a September rate hike rose to about 66%, and the yield on the 10-year U.S. Treasury note climbed to approximately 4.78%. Meanwhile, Brent crude oil broke above $91 per barrel, further intensifying inflationary pressures. Still, gold’s long-term bullish narrative has not faded: concerns over fiscal deficits, expanding government debt, and the U.S. dollar’s purchasing power continue to underpin gold prices. Citi forecasts gold will rise to $5,000 over the next 6 to 12 months, and has raised its short-term target to $4,800. The market will now turn its focus to U.S. employment and inflation data to gauge whether gold bulls can regain momentum.
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The GLM Coding Plan is marking its first anniversary by giving all subscribers a reset card.
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A mysterious crypto whale has once again increased its HYPE holdings, with a single purchase exceeding $11.88 million.
According to Lookonchain monitoring, the mysterious whale address 0x6436 purchased another 141,442 HYPE tokens today, valued at roughly $11.88 million. Earlier, on August 30, the same whale address bought 243,713 HYPE tokens for $20.24 million; between August 25 and 27, it acquired 387,952 HYPE tokens via Hyperliquid, OKX, Bybit, and Gate, totaling $31.5 million.
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Wall Street made a flurry of rating adjustments on Tuesday, with Nvidia, Microsoft, Apple, SpaceX and other firms being favored by institutions.
Multiple Wall Street institutions have recently released their latest stock ratings, issuing positive assessments for firms including Nvidia, Microsoft, Apple, SpaceX, Cisco, Airbnb, and Uber. Baird reaffirmed its "Outperform the Market" rating for Nvidia, noting the chipmaker remains a top large-cap pick thanks to its leading market share and sustained growth in its inference business. Bank of America reiterated a "Buy" rating for Microsoft, raising its target price from $500 to $600, citing accelerated Azure growth as further validation of its AI strategy. JPMorgan reaffirmed an "Overweight" rating for Apple, arguing that despite an expected decline in global smartphone shipments in 2026, the tech giant will benefit from rising market share in the premium device segment. Bernstein reaffirmed an "Outperform the Market" rating for SpaceX, stating that the new launch facility at its Louisiana Starbase site will provide critical infrastructure for future Starship launches and orbital data center construction. Separately, Deutsche Bank initiated coverage on Cisco with a "Buy" rating; Rosenblatt initiated coverage on Uber and Airbnb, assigning "Buy" ratings with target prices of $100 and $220 respectively; KeyBanc initiated coverage on eToro with an "Overweight" rating; Piper Sandler upgraded Tempus AI’s rating to "Overweight", lifting its target price from $56 to $76; Evercore ISI upgraded Duolingo’s rating to "Outperform the Market". Other rating actions include: UBS downgrading Interactive Brokers from "Buy" to "Neutral"; Bank of America upgrading Timken to "Buy"; Citigroup initiating positive catalyst coverage on Howmet Aerospace; and BMO upgrading Park Hotels & Resorts to "Outperform the Market".
Solana-based automated market maker Aquifer has lost roughly $2.5 million in an exploit involving wallets on Solana and Ethereum, with the protocol offering the attacker a 20% bounty for returning most of the funds.
Summary
Solana based AMM Aquifer lost roughly $2.5 million in an exploit involving attacker addresses on Solana and Ethereum. Aquifer offered the attacker a 20% whitehat bounty if at least 80% of the assets are returned by Sept. 3. The exact point of compromise remains unclear, with no technical post mortem yet establishing how access to the affected wallets was obtained. Available information has not established that Aquifer’s smart contracts were exploited, leaving compromised wallet access as the main focus of the incident so far. Blockchain security monitoring service Defimon reported the attack on Aug. 31, identifying separate Solana and Ethereum addresses controlled by the suspected exploiter. Aquifer later sent an on-chain whitehat offer seeking the return of at least 80% of the assets linked to the incident.
The offer gives the attacker until Sept. 3 at 14:00 UTC to transfer the assets, or their equivalent value, to recovery addresses provided by Aquifer. The person controlling the wallets may retain up to 20% of the funds as a whitehat bounty if the conditions are met.
Aquifer said it would not pursue civil claims arising from the exploit if the attacker complies with the terms, subject to applicable law. The agreement would not bind law enforcement agencies, regulators, sanctions authorities or other government bodies.
Aquifer exploit involves wallets on two chains Aquifer operates as a proprietary automated market maker on Solana, where its liquidity is used to facilitate token swaps. DefiLlama describes the protocol as a prop AMM and currently lists its total value locked at around $2.8 million.
The addresses identified after the exploit show activity spanning Solana and Ethereum. Defimon linked the Solana address 7fTe9pvrwXJRBHq9MaSyVPR4PgEuhqLiA93Dxf4gRk7J and Ethereum address 0x2Dfe9e969796e2797278b02761dd9Ad6aE922746 to the attacker.
Aquifer’s whitehat message was authorized through the protocol’s Solana upgrade authority and published on-chain. The project supplied separate recovery addresses for Solana and Ethereum, allowing assets associated with the attack to be returned on either network.
Public information has not yet established exactly how the wallets were compromised. No technical post-mortem has been released explaining whether private keys, administrator credentials or another part of Aquifer’s operational infrastructure was exposed.
Available information similarly does not establish that Aquifer’s smart contract code was exploited. The use of addresses across Ethereum and Solana provides a trail for investigators tracking the assets, but does not by itself identify how access to the affected funds was obtained.
The incident follows several Solana-related attacks this year where the point of compromise was outside the underlying blockchain.
Solana protocols have faced different attack methods In June, crypto.news previously reported that five legacy liquidity pools belonging to Raydium lost roughly $1.3 million after an attacker targeted retired AMM infrastructure.
On-chain investigator Specter said the Raydium attacker used a fake mint address to bypass validation checks in an older AMM program. The stolen assets included roughly 150,177 RAY, 5,603 SOL and 893,700 USDC.
Raydium said its active pools and current users were unaffected because the vulnerable infrastructure had already been phased out. The protocol committed to reimbursing the affected assets from its treasury.
A separate July incident involving Across Protocol produced losses of less than $4 million after an attacker fabricated Solana deposit events. The attacker created 1,627 fake deposits with a combined stated value of $41.7 million and requested payouts across 18 destination chains.
Risk Labs’ relayer processed 581 of the fraudulent requests before Solana operations were suspended, advancing approximately $4.5 million of its own capital. Around $500,000 belonging to the attacker remained trapped, bringing the net loss below $4 million.
Across later said the Solana attack stemmed from a flaw in Risk Labs’ off-chain event-reading software and not a vulnerability in its smart contracts or the Solana network. Legitimate user transfers were completed or refunded.
Operational security failures have produced losses elsewhere without attackers needing to exploit smart contract logic.
Wallet access has become a major attack route Stablecoin payments company Triple-A confirmed in July that unauthorized access to its treasury wallets resulted in the theft of company-owned digital assets. On-chain researchers initially tracked suspicious withdrawals across Ethereum, Solana, TRON and TON, with some reports identifying activity on Polygon and Arbitrum.
Triple-A later said client funds remained unaffected because customer assets were segregated from the compromised treasury infrastructure. Researchers had estimated the loss at roughly $11.8 million before the company confirmed the breach.
The company did not disclose whether the attacker obtained private keys, credentials or another form of access. Triple-A said cybersecurity specialists and Singapore police were working on the investigation and asset tracing.
Private key and wallet compromises have accounted for a substantial portion of crypto thefts in 2026. CertiK reported in July that digital asset losses reached $1.32 billion during the first half of the year, down 46.8% from the same period in 2025.
Despite the lower total, the security firm said wallet compromises became the largest attack method during the second quarter, replacing phishing as the main source of losses.
Another Solana project, Step Finance, ultimately shut down its operations after an attack earlier this year targeted devices used by members of its executive team. Attackers gained access to treasury and fee wallets and moved approximately 261,854 SOL, while later estimates placed total losses across affected assets near $40 million.
Investigators determined that Step Finance’s smart contracts were not the point of entry. Compromised endpoints allowed the attackers to access wallets used by the project, and the financial damage later contributed to the decision to wind down the platform.
A similar distinction will depend on Aquifer publishing more details about its own breach. The protocol has not released a post-mortem identifying the initial point of access, the specific credentials involved or whether one compromised account provided control over multiple wallets.
For now, Aquifer’s recovery process centers on its whitehat proposal. The attacker has been offered the right to retain up to 20% of the assets associated with the exploit if at least 80% is returned to the designated recovery addresses by Sept. 3 at 14:00 UTC.
Institutional appetite for crypto exchange-traded funds is widening well beyond Bitcoin, with capital flowing back into BTC funds and significant inflows continuing for both Ethereum and Solana ETF products.
Bitcoin ETF Inflows Rebound Amid Market CautionSpot Bitcoin ETFs in the United States attracted approximately $217 million in net inflows on August 31, reversing the prior session’s $202 million outflow, according to data compiled by Farside Investors and SoSoValue. BlackRock’s iShares Bitcoin Trust (IBIT) contributed $205.9 million of that day’s inflows, signaling ongoing interest from major institutions.
Last week, a streak of nine consecutive sessions brought nearly $3 billion into Bitcoin ETFs, marking one of the strongest periods of institutional demand for the asset so far in 2026. That buying run was briefly interrupted by Friday’s withdrawals, but Monday’s inflow pointed to continued resilience in BTC-focused products.
Despite these inflows, Bitcoin’s price traded between $78,000 and $79,000 Tuesday, remaining below the $80,000 mark after a brief breakout earlier in August. The combination of higher Treasury yields and market expectations for another Federal Reserve interest rate increase is adding pressure to risk assets, including digital currencies, as investors weigh broader macroeconomic risks.
Solana ETFs Reach $1 Billion MilestoneSolana is emerging as a clear indicator that institutional interest in regulated crypto funds is broadening. The Bitwise Solana Staking ETF (BSOL) reached $1 billion in assets under management on August 28—just ten months after its introduction—making it the first US-listed Solana ETF to cross this threshold.
This milestone comes as Solana’s native token, SOL, continues to trade well below its January 2025 all-time high. On Tuesday, SOL was near $102, roughly 65% under its peak, and saw a slight decrease over 24 hours. Despite this, institutional allocations have grown steadily, with BSOL accumulating over $1 billion from a total of $1.30 billion net flows into US Solana ETFs by August 28, based on Farside data. Other issuers such as Fidelity and Grayscale have seen smaller but notable inflows.
Mini dictionary: Bitwise Asset Management is a US-based investment firm specializing in cryptocurrency index and strategy funds. The Bitwise Solana Staking ETF gives institutional investors exposure to SOL and its staking rewards via a regulated vehicle, helping to broaden access to Solana’s blockchain ecosystem.
ETFAssets Under ManagementNet Flows (Cumulative)Token PriceBSOL (Solana)$1 billion$1.0+ billion$102US Solana ETFs (Total)–$1.3 billion$102Spot Bitcoin ETFs–$3 billion (9-day streak)$78,000-$79,000Institutional allocations to Solana ETFs are reaching new highs, with the Bitwise Solana Staking ETF surpassing $1 billion in under a year—even while SOL trades far below its previous peak.
Ethereum ETF Inflows Continue UnabatedEthereum has also experienced a strong wave of institutional support. Spot Ether ETFs in the US received nearly $88 million in net inflows on Monday, representing the eleventh consecutive day of positive flows, according to SoSoValue. The recent run has now attracted about $1.6 billion, marking the longest stretch of inflows since Ether ETFs posted a 20-day streak that ended in July 2025.
Coinpaper reported that strong inflows for Bitcoin and Ethereum ETFs often align during periods of market optimism for BTC, but Solana’s recent progress indicates a new phase where multiple alternative assets capture sustained attention from institutional investors.
The latest inflows for US spot Ether ETFs push the consecutive streak to 11 days with $1.6 billion raised, signaling persistent demand beyond Bitcoin.
While Bitcoin continues to dominate the institutional landscape, these developments highlight that investor interest in regulated crypto investment vehicles is no longer limited to BTC.
If the current trends persist, September could serve as a pivotal period to assess whether ETF-driven demand remains tied to Bitcoin price movements or signals a broader reshaping of capital flows across the digital asset market.
Bitcoin traded around $79,000 on Monday after Strategy announced its first Bitcoin purchase in months.
Notable Statistics:
Coinglass data shows 104,578 traders were liquidated in the past 24 hours for $378.71 million. SoSoValue data shows net outflows of $201.8 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $102.2 million. In the past 24 hours, top gainers include XRP, Hyperliquid and Pepe. Notable Developments:
Bitcoin Stalls Around $78,000: Here’s the Key Level to WatchTom Lee Says Markets Could ‘Rally Very Strongly’ in September, Touts Fed SurpriseBitmine Buys 53,501 ETH: What Does It Mean for BMNR?Bill Gates Won’t Pick Crypto to Diversify Away From the Dollar, Calls It ‘Pure Mania-Driven Asset’ — Here’s What the Billionaire Would Choose InsteadBitcoin, Ethereum Trade Sideways but Analysts Warn Against Switching to Meme CoinsBTC, ETH, SOL Pull Back After Explosive Rally but ‘Nothing’s Broken Yet,’ Top Trader SaysHyperliquid In Talks To Enter US Via Kraken’s Parent CompanyTrader Notes:
Crypto trader Kevin says Bitcoin and Ethereum are heading for strong monthly closes, with daily trend reversals and improving higher-timeframe momentum, strength and money flows suggesting the bear market bottom is already in.
While BTC remains below the 2-day 200 EMA/SMA and 50-week SMA, a break and hold above $85,000 would provide stronger confirmation.
The analyst remains bullish on BTC and ETH, viewing any year-end dips as potentially the last major accumulation opportunity before Bitcoin moves toward $100,000 and higher next year.
Trending
Trader Jelle sees Bitcoin at a decision point near key weekly resistance. A breakout could confirm the start of a new bull market, but until that happens, taking some profits after the past two weeks’ rally may be prudent.
Image: Shutterstock
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Speaking to CNBC, Tom Lee, Head of Research and Chief Investment Officer at Fundstrat, shared his latest expectations regarding the Fed’s September policies and global markets.
Noting that September has historically been a weak month for markets and highlighting uncertainties regarding interest rate scenarios, Lee argued that, contrary to general expectations, markets could spring an upside surprise.
The renowned analyst stated that the FED meeting on September 15th is a critical turning point, and that if the central bank does not make any changes to interest rates, the stock markets could trigger a very strong rally.
He suggested that a major correction might be postponed until October, or that stocks could experience a limited pullback after rising above the 8,000-point level in the S&P 500 index.
Lee argued that the periodic slowdown in the cryptocurrency market (“crypto winter”) was quite shallow and is nearing its end, reminding that crypto assets became the best-performing macro asset class in the third quarter of the year.
Lee, pointing to institutional investors turning to crypto stocks, argued that investor interest would quickly return as the 4-year crypto cycle comes to an end in the coming days.
The analyst pointed out that regulatory changes could be the biggest catalyst for the sector, stating the following:
“If the CLARITY Bill passes Congress this year, Bitcoin and Ethereum will have an extremely strong and massive fourth quarter.”
*This is not investment advice.
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Ethereum price today: $2,470BitMine acquired 53,501 ETH last week, its largest purchase since June, extending its buying streak.Chairman Thomas Lee predicts increased institutional crypto accumulation in Q3.ETH retests $2,431 support as consolidation continues after the recent rally.Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) extended its ETH buying run following another round of weekly acquisitions.
The firm purchased 53,501 ETH last week, its largest weekly purchase since June and marking 65 consecutive weeks of ETH acquisitions. The move has lifted BitMine's stack to 5.901 million ETH worth $14.63 billion at the time of writing.
ETH has been one of the best-performing assets in Q3, outperforming the S&P 500 by 5,430 basis points, according to BitMine Chairman Thomas Lee.
"We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in Q3 so far," wrote Lee in a Monday statement.
He cited multiple catalysts, including the upcoming Senate procedural vote for the crypto market CLARITY Act scheduled for mid-September, Korean investors rotating from AI stocks toward crypto and a potential bottoming of the four-year crypto market cycle.
"This sets the stage for what we expect to be sizable institutional participation in buying crypto in the final months of 2026, especially given the tailwinds of tokenization and Agentic-AI," noted Lee.
BitMine also maintained a 5.067 million ETH stake through its Made in America Validator Network (MAVAN), potentially generating annualized staking revenue of $335 million.
The company also reported holdings of 211 Bitcoin (BTC), a $180 million stake in Beast Industries, $81 million worth of Eightco Holdings shares (ORBS) and total cash and marketable securities of $541 million.
The increased cash balance and acquisitions follow rising trading volume in BMNR shares, which averaged $1.36 billion over five days, ranking #62 in the US behind Texas Instruments.
BMNR shares are trading at $25, up 6% at the time of writing.
Meanwhile, ETH exchange-traded funds (ETFs) recorded a second consecutive week of net inflows worth $824.42 million, its largest since October, per SoSoValue data.
Ethereum technical outlook: ETH consolidates above $2,400Ethereum has seen $103.3 million in liquidations over the past 24 hours, led by $71 million in long liquidations, according to Coinglass data.
On the daily chart, ETH is extending its bullish near-term bias as price holds above the 20-, 50-, 100- and 200-day Exponential Moving Averages (EMAs), which fan out below spot price and reinforce a constructive trend structure.
The top altcoin is pressing into fresh local highs with the 14-day Relative Strength Index (RSI) around 71 and the Stochastic Oscillator (Stoch) near 87, suggesting overbought but still strong upside momentum that keeps any corrective pullbacks framed as consolidation within the prevailing uptrend.
On the downside, initial support is seen at the recent horizontal level near $2,431, followed by the 20-day EMA and the $2,172 area, where underlying demand is backed by the 50-, 100- and 200-day EMAs clustered between roughly $2,160 and $2,090.
ETH/USDT daily chartDeeper declines would test $1,961, then $1,809. On the topside, immediate resistance emerges at $2,680, ahead of a higher barrier at $2,879, where a break would open the way for a continuation of the broader bullish leg.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
As Ethereum [ETH] advanced toward $2500, traders went all-in, adding massive amounts of leverage on both Binance and Bybit.
The combined Open Interest (OI) on these two exchanges grew by $1.12 billion over the seven days ending on the 22nd of August, after traders began to chase Ethereum’s breakout.
Recently, that momentum has dramatically fallen off. As of the 30th of August, the leverage collapsed 90.9% to just $102 million. Binance fell from $843 million to $94 million, while Bybit plunged from $277 million to $8 million.
Source: CryptoQuant However, ETH is still trading near $2500, even though derivatives are being added by much smaller margins. In other words, this means that the rally is now relying less on rapid expansion of derivatives in order to continue supporting the price.
Ultimately, if Ethereum holds $2500 while leverage decreases, then this would likely indicate a rally based on growing demand.
With leveraged trading cooling, Ethereum’s support is increasingly coming from spot ETFs.
The volume of ETH being bought by institutions through spot ETFs has grown with each session since the 15th of August. Since then, U.S.-based Ethereum ETFs have had approximately $1.5 billion in investment over 10 days.
Source: Farside Over this same period BlackRock’s ETHA accounted for 71.9%, or approximately $1.02 billion, of total investment in all U.S.-based Ethereum ETFs. At an ETH price level of $2,400-$2,500, these investments would represent approximately 570,000-630,000 ETH worth of net purchases.
More importantly, ETF inflows matter because they create direct demand for ETH in the spot market without adding leverage through futures. All in all, it is likely that continued ETF inflows will support ETH’s stabilization even if derivative positions continue to be reduced.
Whale selling tests ETH demand That institutional demand now faces a direct supply test, as whale 0x2Ea2 has moved substantial ETH onto major exchanges. Over two days, the wallet deposited 40,881 ETH worth $100.67 million, spreading transfers across Binance, OKX, Bybit, Kraken, and Gate.
Source: Arkham Several deposits reached thousands of ETH, including 8,629 ETH sent to Binance within one day. This does not necessarily mean that whale 0x2Ea2 sold this amount of ETH.
However, placing ETH directly on an exchange makes it immediately available to be traded. This is important since continued sales of ETH could potentially absorb some of the spot demand for ETH currently at around $2,500.
Meanwhile, the whale still possesses 10,506 ETH worth roughly $25.52 million, and thus there are additional potential supplies. If that balance follows, ETF demand must absorb heavier selling to maintain price stability.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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