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Equity Perp Volume Surges 17x as Chip Stocks Draw Crypto Traders

20h35 ▪
6
min read ▪ by
Luc Jose A.

Summarize this article with:

XRP has just lost a level it had defended since late 2024. Briefly falling below $1, Ripple’s token now shows more than a 5% drop over one month, unlike Bitcoin, Ethereum, and Solana. Yet behind this weakness lies a paradox: long-term investors are massively accumulating, while derivatives markets intensify selling pressure and flows to ETFs have sharply dried up. Two opposing forces now clash around XRP, and their duel could determine the token’s next move.

In Brief

XRP suffers a drop of more than 5% over one month and slips below $1, against the modest gains of Bitcoin, Ethereum, and Solana.
The cohort of wallets holding at least 1 million XRP has grown by 32 in three months, taking advantage of the drop to accumulate.
XRP deposit addresses on Binance have dropped by 96%, confirming investors’ intention to keep their tokens out of selling circuits.
Net flows on XRP spot ETFs have fallen to zero over the last four sessions, totaling only one million dollars in the first twelve days of August.

The silent accumulation of major investors and the drying up of deposits
Despite a continuously falling double-digit market capitalization over recent weeks, on-chain indicators attest to massive accumulation by the biggest holders in the market. According to analysts at Santiment, 32 new wallets have been added to the number of addresses holding at least one million XRP during the last three months. Thus, these gradual acquisitions methodically absorb the coordinated bearish pressure from retail investors.

Santiment’s team of experts views such dynamics as a long-term conviction strategy. They state: “when the number of wallets holding at least one million XRP increases while market capitalization decreases, it means the strong hands absorb the panic. Patience takes precedence over mere speculative enthusiasm related to price, and the prospects of future volatility become all the more attractive for buyers.” Additionally, there is a quantitative increase in daily interactions due to user behavior on the network. Active addresses rose from 26,400 in July to 35,700 in August. August 11th saw a peak in activity, unmatched since June 5th.

The current state of centralized exchanges shows tokens locked outside immediate selling circuits. Data published by CryptoOnchain reveals a considerable drop of 96% compared to monthly and quarterly norms. Meanwhile, inflow and outflow volumes have respectively fallen by 79% and 85% relative to their 90-day moving averages. Moreover, for CryptoOnchain’s analyst, this trend reflects strict retention of XRP coins: “The network records strong activity, but tokens are not transferred to exchanges to be sold.” In this context, the majority of long-term XRP holders, far from succumbing to general panic, deliberately chose to isolate their positions off-exchange despite the price correction.

Such resilience by the network’s historical holders is reflected through various accumulation metrics :

Growth in the number of whales : wallets holding at least one million XRP have increased by 32 over the last three months, amidst falling prices ;
Collapse of deposit activity on Binance : a 96% drop in XRP deposit addresses compared to usual averages, alongside a decline in inflows (-79%) and outflows (-85%) ;
Steady increase in network usage : daily active addresses rose to an average of 35,700 in August (up from 26,400 in July), peaking on August 11.

Stagnant adoption under selling pressure from derivatives
Despite the strength of activity from historical wallets, this does not demonstrate an ecosystem growth nor buying momentum on futures markets. In this perspective, Santiment nuances the overall picture. The analytics platform indicates that new address creation is stubbornly stagnant at 2,260 per day currently, compared to 2,270 in July. Analysts state: “presenting the situation as growing user activity is only half true. The existing user base is simply conducting more transactions, but the overall number of wallets is not increasing.”

Without new dynamism in the network, short-term speculation would continue to influence prices. Regarding the derivatives market on the Binance exchange, selling pressure is firmly established. The taker buy/sell ratio plunged to 0.86, its lowest value since May. Analyst Arab Chain highlights the significance of this figure: “a value below 1 indicates that the volume of sell orders executed by traders exceeds buy orders, thus reflecting clear selling pressure from market participants operating directly on the market.”

A Cumulative Volume Delta (CVD) confirms this clear dominance of sellers. The indicator remains in the red around –4.15 million, despite maintaining a 0.84 correlation with price. Arab Chain draws this conclusion: “despite strong CVD-price correlation, the CVD value remains anchored in negative territory. This shows market flows strongly favor selling, proving buying activity is insufficient to shift net flow balance into positive territory.” Therefore, short-term sellers continue setting the pace against buyers unable to reverse the trend in order books.

The scarcity of flows on XRP ETFs
Institutional investors are also slowing down. Data from SoSoValue shows that XRP ETFs have recorded a zero net balance over the last four sessions. Such a steep decline was spectacular in the week ending August 7.

Indeed, these products, after accumulating $14.86 million the previous week, attracted only $1.01 million, a colossal drop of 93%. Thus, over the last twelve days of this August, cumulative inflows barely exceed this mere million dollars, indicating temporary disinterest from professional investors.

Ultimately, the confrontation between whales’ firmness and retail investors’ disinterest in ETFs as well as derivatives places XRP in a precarious balance. The absence of new users contributes to limiting the market’s capacity to absorb aggressive selling by short-term traders. A resumption of inflows into ETFs could trigger sustainable bullish dynamics.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Google has released Gemini 3.7 Flash, its new coding and autonomous agent model, now available globally as a low-cost, general-purpose AI offering. At the same time, OpenAI introduced a limited preview of GPT-5.6 Sol Ultrafast, a new tier for its top performing model, powered by Cerebras hardware and designed for significantly faster output.

Gemini 3.7 Flash now broadly availableGemini 3.7 Flash is a major update in Google’s suite of artificial intelligence models, with a focus on software engineering, web development, and advanced knowledge work. The model supports input sizes up to a million tokens—equivalent to roughly 750,000 words—and handles various formats including text, images, video, audio, and PDFs. It also features tool-calling abilities for controlling computers and managing complex workflows, aligning with Google’s push towards real-time, autonomous agents.

According to Google, Gemini 3.7 Flash can complete coding tasks in about 2 minutes and 13 seconds, less than half the time required by its previous Flash release. The company stated that the new model offers both improved quality and speed, aiming to provide a “workhorse” tool for developers and enterprise users needing rapid, high-volume AI output.

Pricing for Gemini 3.7 Flash is set at $0.75 per million input tokens and $3.75 per million output tokens through the end of this year—half the original cost for Gemini 3.6 Flash. These rates will double to $1.50 and $7.50, respectively, after December 31. Google’s benchmarks indicate that the new model leads competitors such as Claude Sonnet 5 and GPT-5.6 Terra across 11 of 18 test categories, including a top Elo score of 1,588 in Code Arena web development and 30.4% on the AutomationBench metric for enterprise workflow automation.

Mini dictionary: Claude Sonnet 5 is the latest mid-tier large language model from Anthropic, designed to balance cost, speed, and accuracy for enterprise AI applications.

Gemini 3.7 Flash is designed as a highly capable and efficient model, offering substantial gains across software engineering, web development, and complex knowledge work, while also maintaining affordability for developers worldwide.

ModelInput Token LimitTop Web Dev EloAutomationBench (%)Introductory Price (per million input/output tokens)AvailabilityGemini 3.7 Flash1,000,0001,58830.4$0.75 / $3.75General access (160+ countries)Claude Sonnet 5Not specifiedBelow Gemini 3.7Below Gemini 3.7Not specifiedGeneral accessGPT-5.6 TerraNot specifiedBelow Gemini 3.7Below Gemini 3.7Not specifiedGeneral accessGPT-5.6 Sol UltrafastNot specifiedNot specifiedNot specifiedInvite-onlyLimited previewOpenAI’s speed leap with GPT-5.6 Sol UltrafastOpenAI, the company known for its GPT line of advanced language models, has unveiled GPT-5.6 Sol Ultrafast in a restricted preview. This new tier leverages specialized wafer-scale chips from Cerebras, a US-based AI hardware manufacturer, to achieve a throughput of up to 750 tokens—roughly 560 words—per second. The performance jump is intended to enable applications such as real-time voice agents and advanced autonomous business tools.

Mini dictionary: Cerebras is a company specializing in large wafer-scale processors, specifically designed for AI workloads, which can deliver higher throughput and faster processing compared to traditional GPU-based systems.

GPT-5.6 Sol Ultrafast is not a new model, but a speed-optimized offering based on the current GPT-5.6 Sol, a foundation model that was recently reinforced by AI red teaming against security holes such as prompt-injection attacks. The Ultrafast tier initially targets select customers via invite, with broader access planned as capacity increases.

Early feedback highlighted that Cerebras-powered performance enables new interactive experiences, for example, allowing a voice agent to process information and respond in near real time during ongoing phone calls.

Industry trends and model accessBoth Google and OpenAI signaled a shift from headline-grabbing intelligence benchmarks to a focus on real-time agent capabilities. Google’s aggressive pricing and wide global access sets Gemini 3.7 Flash apart; the model is now live in more than 160 countries. In contrast, OpenAI’s GPT-5.6 Sol Ultrafast remains exclusive to selected users, pending a wider deployment.

The rollout of Gemini 3.7 Flash appears timed to address user demands for faster and more autonomous agents, especially as Google’s premium Gemini 3.5 Pro model has yet to see release. Meanwhile, OpenAI relies on third-party hardware for speed improvements rather than its own in-house chips, signaling a pragmatic approach to keeping up with market competition.

Industry observers note that as both companies race to deliver instant-response AI agents, access and affordability could become as important as raw model capability.

Gemini 3.7 Flash and GPT-5.6 Sol Ultrafast underline this new competitive dynamic, with Google making its latest AI engine widely accessible, while OpenAI tests the fastest version of its technology with a limited group of business users.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Solana Overtakes Bitcoin and Ether in GSR’s Latest Crypto Portfolio Shake-Up

In brief
6th Man Ventures Co-Founder Mike Dudas said Solana is positioned to attract mainstream users because it supports trading, payments, and settlement on a single network.
He argued that corporate-backed networks such as Coinbase’s Base and Robinhood’s blockchain face pressure to steer users toward fee-generating products.
His comments come as Solana validators consider proposals to slow token issuance and burn more SOL.
Solana could bring hundreds of millions of people into crypto without most of them realizing they are using a blockchain, investor Mike Dudas said on a recent episode of Decrypt's Fomo Hour podcast.

Dudas, co-founder of crypto venture firm 6th Man Ventures and an early backer of Pump.fun and various other Solana projects, said the network's advantage is the range of activity it supports.

“The reason I think Solana is in a great position is because it is sort of the everything chain of trading and money movement and settlement,” he told Decrypt. “So it’s performant, it’s flexible, and it’s multi-use case.”

Dudas said consumer apps have made crypto easier to use by hiding many of its technical elements. Users can now fund accounts through services such as Apple Pay without handling wallets or interacting directly with a blockchain.

Today we sat down with @mdudas to chat about @solana and its ecosystem!

3:30 - Solana's place this cycle
7:10 - Thoughts on the latest Solana Governance vote
8:40 - Are Memecoins back?
14:40 - El Toad Pepe backstory
18:07 - How to make a memecoin a "good coin" ?
21:05 - The… pic.twitter.com/zR7LewjEll

— Decrypt (@DecryptMedia) August 12, 2026

“I think that’s how most people are going to experience ‘on-chain’ moving forward,” he said.

Dudas argued that Solana’s less visible infrastructure—including round-the-clock availability, deep liquidity, low fees, and near-instant settlement—makes those consumer products possible.

“The unsexy stuff enables the stuff that people use,” he said.

Corporate-backed blockchains face different pressures, Dudas said, pointing to Coinbase’s Base and Robinhood Chain. He argued that both companies have an incentive to direct users toward products that generate revenue.

Dudas also said he supported efforts to reduce Solana’s token issuance—a topic that’s making the rounds of late as calls to reduce inflation in both the Solana and Ethereum ecosystems intensify.

“The notion that you need massive amounts of inflation for security has been overdone,” he said, calling the latest proposal “reasonable.”

Solana validators are considering two measures bundled under SGP-0003. The proposals would accelerate reductions in new SOL issuance and increase the amount of SOL burned through network fees. If it goes through, it could result in the kind of supply-size squeeze investors would likely benefit from, assuming demand stays steady or increases.

Dudas said Solana’s meme coin ecosystem also proved more resilient than much of the crypto market during the downturn, arguing that the network’s willingness to support uses ranging from speculative tokens to stock trading has become one of its strengths.

“The beauty of Solana is that the chain supports all of these different use cases,” he said. “As much crap as the Solana Foundation gets, and as much crap as I sometimes give it, they unequivocally and vocally support all of these broad use cases—and you can see it.”

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

, /PRNewswire/ -- Bitwise Asset Management, a global crypto asset manager, today announced a partnership with Superstate, a financial technology firm that partners with issuers and asset managers to bring securities onchain, to develop the capability for shares of certain Bitwise funds to be held in tokenized form.

Under the framework the firms are developing, tokenization would change only the form in which share ownership is recorded. Investors would continue to purchase the same shares of the applicable fund, with the same rights, through the same channels as today. Shareholders could then elect to hold those shares either in traditional book-entry form through The Depository Trust Company or in tokenized form recorded on a blockchain and maintained through Superstate's transfer agency infrastructure. Shares held in tokenized form would carry rights identical to shares held in book-entry form and would not be freely transferable outside that recordkeeping system.

Bitwise expects the Bitwise Solana Staking ETF (NYSE: BSOL) to be its first fund for which the tokenized share option may become available. Availability of the tokenized share option remains subject to applicable legal and regulatory requirements. There can be no assurance as to whether or when a tokenized share option will become available for BSOL or any other Bitwise fund.

About Bitwise

Bitwise Asset Management is a global crypto asset manager with $9 billion in client assets and a suite of over 70 investment products spanning ETFs, separately managed accounts, private funds, DeFi strategies, and staking. The firm has a nine-year track record and today serves more than 5,500 private wealth teams, RIAs, family offices and institutional investors as well as 21 banks and broker-dealers. The Bitwise team of technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.

About Superstate

Superstate partners with issuers to bring securities onchain, enabling access to new investor capital and modern financial markets. Through Opening Bell, Superstate partners with companies issuing tokenized equity. Through FundOS, it serves asset managers launching tokenized funds. Both platforms support compliant issuance, record keeping, direct investor registration, and onchain market integration via their SEC-registered transfer agency infrastructure. Superstate's flagship funds USTB (now the Invesco Short Duration US Government Securities Fund) and USCC (now the Bitwise Crypto Carry Fund) validated this infrastructure at institutional scale before transitioning to leading asset managers on FundOS. Learn more at superstate.com.

Risks and Important Information

This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bsoletf.com/welcome.

The Bitwise Solana Staking ETF (BSOL) is not suitable for all investors. An investment in BSOL is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BSOL is not an investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and therefore is not subject to the same protections as ETFs and mutual funds registered under the 1940 Act. An investment in BSOL is not the same as a direct investment in Solana (SOL).

Shares of ETPs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The NAV may not always correspond to the market price of SOL and, as a result, Creation Units may be created or redeemed at a value that is different from the market price of the Shares. Authorized Participants' buying and selling activity associated with the creation and redemption of Creation Units may adversely affect an investment in the Shares.

The amount of SOL represented by a Share will continue to be reduced during the life of the Fund due to the transfer of the Fund's SOL to pay for the Sponsor's management fee, and to pay for litigation expenses or other extraordinary expenses. This dynamic will occur irrespective of whether the trading price of the Shares rises or falls in response to changes in the price of SOL.

There is no guarantee or assurance that the Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products.

Investors may choose to use the Fund as a means of investing indirectly in SOL. Because the value of the Shares is correlated with the value of the SOL held by the Fund, it is important to understand the investment attributes of, and the market for, SOL.

SOL Risk. There are significant risks and hazards inherent in the SOL market that may cause the price of SOL to fluctuate widely. The Fund's SOL may be subject to loss, damage, theft or restriction on access. Investors considering a purchase of Shares should carefully consider how much of their total assets should be exposed to the SOL market, and should fully understand, be willing to assume, and have the financial resources necessary to withstand the risks involved in the Fund's investment strategy.

Liquidity Risk. The market for SOL is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.

Regulatory Risk. Future and current regulations by a U.S. or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Fund.

Blockchain Technology Risk. Certain of the Fund's investments may be subject to the risks associated with investing in blockchain technology. The risks associated with blockchain technology may not fully emerge until the technology is widely used. Blockchain systems could be vulnerable to fraud, particularly if a significant minority of participants colluded to defraud the rest. Because blockchain technology systems may operate across many national boundaries and regulatory jurisdictions, it is possible that blockchain technology may be subject to widespread and inconsistent regulation.

Staking Risk. The Trust intends to implement a staking program under which a significant portion of the Trust's SOL will be staked. While staking Solana offers the potential to earn rewards in the form of additional Solana tokens, it also exposes the Trust to several risks, such as loss of rewards, slashing penalties, and operational uncertainties. Staking activities could impair the ability to satisfy redemption orders on a timely basis.

Nondiversification Risk. The Fund is nondiversified and will hold a single issue. As a result, a decline in the market value of a particular issue held by the Fund may affect the Fund's value more than if it invested in a larger number of issuers.

Recency Risk. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision. If the Fund is not profitable, the Fund may terminate and liquidate at a time that is disadvantageous to Shareholders.

Bitwise Investment Advisers, LLC serves as the sponsor of the Fund. Foreside Fund Services, LLC serves as the Marketing Agent for BSOL, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise, or any of its affiliates.

Media Contact
Stephanie Dressler
[email protected] 

SOURCE Bitwise Asset Management

Citi CEO: Hopes CLARITY Act will ultimately pass, but remains concerned about stablecoin incentive mechanisms

Citi Group CEO Jane Fraser has stated that while she remains concerned about how the CLARITY Act addresses stablecoin reward mechanisms, she overall hopes the bill will pass, arguing it would benefit the financial system. Fraser added that Citi is still pushing for improvements to the legislation. She pointed out that if stablecoin platforms offer rewards on user deposits, this could lead to outflows of traditional bank deposits, in turn weakening banks’ ability to provide loans and credit services to parts of the U.S. The bill currently prohibits platforms from offering rewards solely for users holding stablecoins, but allows rewards tied to trading and payment activities. This issue remains at the heart of the ongoing dispute between the banking and crypto industries as the legislation advances.

18 minutes ago

UBS significantly increased its holdings in BlackRock's Bitcoin ETF in the first half of the year, bringing its stake to approximately $90 million.

UBS’s latest 13F filing shows that as of June 30, the Swiss bank held roughly 2.5 million shares of BlackRock’s spot Bitcoin ETF IBIT, with a holding value of nearly $90 million. Compared to the roughly 549,000 shares it held at the end of 2025, the holding volume surged by about 355%, while the holding value jumped around 230% from approximately $27 million. It’s important to note that 13F filings do not clarify whether these IBIT shares are held via UBS’s own capital or client assets, so this cannot be simply interpreted as UBS directly investing $90 million in Bitcoin.

18 minutes ago

Hong Kong stocks opened lower, with the Hang Seng Index down 0.7% and the Hang Seng Tech Index down 0.6% at the open.

According to Bitget market data, Hong Kong stocks opened lower, with the Hang Seng Index down 0.7% and the Hang Seng Tech Index down 0.6% at opening. Semiconductor Manufacturing International Corporation (SMIC, 00981.HK) rose 4.74% after releasing its quarterly results, with the company forecasting Q3 revenue to grow 2% to 4% quarter-on-quarter and a gross profit margin guidance of 26% to 28%.

18 minutes ago

AVAX One reported that its Q2 revenue rose more than 5 times year-on-year, and it holds 14.09 million AVAX tokens.

AVAX One announced its Q2 2026 financial and operational results, with revenue reaching $2.8 million for the period, more than five times the $452,000 recorded in the same period of 2025. Of this total, AVAX staking rewards accounted for approximately $2.1 million, while Bitcoin mining revenue was around $700,000. Due to fluctuations in digital asset market values, the company posted a net loss of $35.1 million in Q2, including $29.75 million in unrealized losses on digital assets and $2.61 million in impairment of liquid staking tokens. Excluding these non-cash items, the adjusted net loss stood at $2.2 million. As of August 13, AVAX One held a total of 14.091 million AVAX and equivalents, of which roughly 800,000 had been deployed to Treehouse, with approximately 95% of its assets staked and an annualized yield of around 5.4%. In Q2, the company repurchased about 144,800 shares; cumulative repurchases since November 2025 have reached approximately 417,500 shares. Separately, AVAX One plans to divert roughly 100 kW of idle Bitcoin mining capacity at its Redwater facility to AI inference operations. The company maintained its full-year 2026 guidance: assuming current spot prices, it projects revenue of $11 million to $12 million and EBITDA of $2 million to $3 million. AVAX One is a U.S. Nasdaq-listed digital infrastructure company (NASDAQ: AVX), with core businesses including building Avalanche (AVAX) digital asset reserves, generating on-chain returns via staking, operating Bitcoin mining facilities, and developing modular data centers and AI computing services.

18 minutes ago

Bank of America warns: The current market is showing late-stage characteristics of the dot-com bubble, with AI returns being the key point.

AI-driven rallies continue to lift U.S. stocks, but a Bank of America research report warns the current market is showing traits similar to the late stages of the 1999 dot-com bubble. The most prominent red flags include extreme concentration in the S&P 500, active stock-picking activity hitting a record low, and persistent capital flows chasing a small handful of AI winners. Recent plans by NVIDIA, in partnership with Wall Street giants, to raise $500 billion for AI infrastructure have further stoked these concerns. Optimists argue this will provide longer-term funding channels for AI clients, supporting demand for chips, data centers, and computing power; while skeptics worry such arrangements carry a "supplier financing" element, potentially shifting AI capital expenditure from industrial investment to more complex financial structures. Bank of America’s analysis holds that when chipmakers, cloud providers, and large tech firms become the core drivers of index gains, the market’s apparent prosperity may mask underlying vulnerabilities. If large amounts of capital flow passively into the AI stocks with the highest market capitalization weights, and active stock-picking fades, the rally will become more dependent on the performance delivery of a small number of companies. Once AI revenue returns lag behind capital expenditure expansion, index volatility could be amplified.

18 minutes ago

Intel CEO Liwu Chen will invest $12 million to subscribe for new shares of the company.

Intel CEO Chen Liwu will subscribe for Intel common stock totaling $12 million at a public offering price of $95 per share. The relevant details were disclosed in a supplementary prospectus filed by Intel on the same day. The subscription is part of Intel’s latest $20 billion public offering, not a secondary market share purchase. Intel originally planned to issue $15 billion in common stock, later expanding the offering size to $20 billion for a total of 210,526,315 shares, and granted underwriters an option to buy up to an additional 31,578,947 shares within 30 days.

18 minutes ago

Solana’s validator network came within a hair’s breadth of a full transaction freeze on August 12, 2026. A routing glitch at infrastructure provider Teraswitch knocked nearly 29% of all staked SOL offline, pushing the Solana validator network to 86% of the critical 33.34% threshold where block finality would stop entirely.

What Triggered the Solana Network Outage The incident lasted roughly 33 minutes. Despite the close call, Solana’s chain never stopped producing blocks, and user funds remained secure.

As institutional interest in SOL has grown. Solana ETF Inflows Hit Three-Month High, this stress test puts the Network’s architecture directly under the spotlight.

The fault originated at Teraswitch’s Miami (MIA1) facility. A malformed route spread through the provider’s internal relay in Amsterdam.

It cutt off 12 data centers across London, Frankfurt, Singapore, Tokyo, and Dublin. North American validators were entirely unaffected.

At peak impact, AS20326, a single autonomous system that hosts 27.34% of all staked SOL, saw 94% of its stake go dark simultaneously.

That concentration already exceeds the Solana Foundation Delegation Program’s (SFDP) recommended 25% cap per autonomous system.

Staking platform Marinade Finance pulled the numbers shortly after recovery. It found that roughly 20 million SOL of active stake stood between the Solana validator network and a full halt.

Affected validators collectively missed 333 SOL (~$25,600) in staking rewards, which validator bond programs are set to cover.

Teraswitch engineers identified the bug in approximately 10 minutes and removed the Miami site from its backbone. Full traffic restoration was logged at 04:16:15 UTC, about 33 minutes after the disruption began.

Notably, out of 74 tracked validators, only three automatically switched to backup locations. Major operators, including Helius, remained offline for the full outage window.

The Solana Foundation VP of Technology Jacob Creech confirmed rapid recovery on X, noting that SFDP-managed validators were unaffected throughout.

Last night an infrastructure provider used by some Solana validators had a failure. You probably didn't notice, because the network didn't: blocks kept producing and transactions kept landing.

The facts:

– The Solana network remained operational
– 597 of 699 staked validators…

— Jacob Creech (@jacobvcreech) August 12, 2026

What It Means for SOL Holders and the Broader Network Solana’s last major full halt was on February 6, 2024, and lasted approximately five hours. Wednesday’s near-miss is a different story.

The chain kept finalizing transactions throughout, and Solana’s official status page continues to show 100% uptime over the last 90 days.
But the event exposes two structural risks investors should track: validator concentration by autonomous system provider and the failure of automated failover tools.

Both remain live vulnerabilities ahead of Solana’s Alpenglow consensus upgrade, which targets sub-second finality and is due by October.

This comes at a time when Wall Street is increasingly building on proof-of-stake infrastructure. Wells Fargo’s tokenized deposits signal growing blockchain adoption, making network resilience a due-diligence priority, not just a technical footnote.

For SOL Price Outlook this weekend, near-term support holds given ETF inflows and the non-event nature of the incident for end users.

The absence of panic selling suggests markets interpreted the recovery as proof of decentralization, not a warning sign.

Raj Gokal, Solana’s co-founder, acknowledged the incident on X. The broader Solana ecosystem echoed a cautious-but-positive read.

The Solana validator network passed a real-world stress test, but its heavy stake concentration in a single autonomous system remains an open risk that the Foundation’s delegation policies have not yet resolved.

Amid recent developments on Solana, including the August 12 validator near-halt, the SOL price has stayed steady at $76.25 on Thursday. The token is up 0.29% over 24 hours and 3.23% on the week, with roughly $1.29 billion in volume and a market cap near $44.49 billion.

Coingecko Solana Price Mine crypto without hardware using these trusted mining sites.

Anthropic Eyes $2 Trillion IPO Valuation, Jim Cramer Says the Revenue Backs It Up

What Do Forward Industries’ Q3 Numbers Actually Show?According to a Forward Industries press release, the headline loss was driven almost entirely by accounting rules, not actual selling. 

The company recorded $49.8 million in unrealized digital asset losses and $15.2 million in impairments, both non-cash charges required under US GAAP that do not reflect real cash outflows.

However, revenue grew more than 4x year-over-year to $10.8 million, driven by staking income and treasury-related returns. 

Operating expenses came in at $7.4 million, including $3.1 million in stock-based compensation.

What Did Forward’s SOL Treasury Strategy Actually Deliver?Chairman Kyle Samani said in the release that Forward added 508,618 SOL during the quarter through purchases and staking, bringing total holdings to 7,552,698 SOL as of June 30. 

Since quarter end, the company added another 254,325 SOL at an average cost below the Q3 average, pushing total holdings to 7,807,022 SOL as of August 3, representing roughly 1.3% of Solana’s circulating supply.

Moreover, SOL per share on a fully diluted basis rose from 0.0669 to 0.0730, a 9% sequential gain equivalent to roughly 36% annualized. 

The company also generated approximately 106,000 SOL in staking rewards during the quarter, bringing cumulative staking rewards to 300,000 SOL since the treasury strategy launched in September 2025.

Forward repurchased 2,561,376 shares during the quarter when management determined buybacks were accretive to SOL per share.

What Does the OnRe Investment Add?Forward committed up to $25 million to OnRe, a Solana-based tokenized reinsurance platform, in May 2026. 

Since then, the platform’s ONyc token market cap climbed 73% to $247 million while the broader Solana tokenized real-world asset market grew from $2.5 billion to over $3.3 billion.

Where Does FWDI Stand Technically?FWDI trades at $4.30 in premarket, holding above its 20-day and 50-day SMAs but sitting below its 100-day SMA at $4.41 and well below its 200-day SMA at $7.06. RSI at 54.53 sits neutral with room to move either way.

Key levels for FWDI:
$5 — resistance where rebounds have stalled
$4 — round-number support floor to watch
Image: Shutterstock

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@SolCex_Exchange has added Pi Network ($PI), Canton Network's $CC, and Ethereum Classic ($ETC) to its platform, with the listings going live as of August 12, expanding the exchange's tradeable asset base well beyond its native Solana ecosystem.

Pi Network's Expanding Exchange FootprintPi Network's Open Mainnet launched on February 20, 2025, with trading beginning at 08:00 UTC across participating exchanges, including Bitget, KuCoin, Gate.io, and MEXC. Despite that broad initial rollout, $PI currently trades around $0.090, with upcoming token unlocks of roughly 775 million PI adding to concerns over selling pressure. The SolCex listing gives @PiCoreTeam's token another venue as it works to recover ground lost during a July slump.

Canton Network and Ethereum Classic Round Out the ListingsThe addition of $CC from @CantonNetwork and $ETC broadens SolCex's reach further. Ethereum Classic, the original Ethereum chain maintained after the 2016 DAO fork, represents the proof-of-work legacy side of the market. Canton Network is a privacy-enabled blockchain designed primarily for institutional use cases. Listing both alongside $PI signals that @SolCex_Exchange is actively pushing to compete with larger centralized platforms.

SolCex describes itself as the first centralized cryptocurrency exchange built on @Solana, using the network's high throughput and low fees to offer fast execution and cross-chain compatibility across Solana, Ethereum, and other blockchains. Whether broader listings translate into meaningful trading volume remains to be seen, but the move adds three distinct asset classes to a platform still establishing its position in a crowded market.

Sources
CryptoPotato: Pi Network News and PI Token Price Update, August 13
GlobeNewswire: SolCex Positioned as Primary Centralized Exchange for Solana
CryptoRank: Pi Network Listing Status

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Pi Network News: New Solana Exchange Listing, But Still No Binance or Coinbase

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The tokenized gold market sits at roughly $6 billion. Tokenized silver? About $350 million. Dominion Market is betting that gap is less a reflection of demand and more a reflection of missing infrastructure.

The project has launched SILV, a Solana-based token where each unit represents ownership of one troy ounce of physical silver held in allocated vault custody. Trading is already live on several Solana DeFi platforms, with SILV recently pricing around $64.63 per token.

How SILV works Each SILV token is minted at the current spot price of silver plus a 1.5% fee. That token corresponds to a specific allocation of silver stored in an LBMA-standard vault in Fort Worth, Texas.

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The silver backing SILV isn’t pooled into a generic reserve. Bars are allocated and segregated, meaning each holder’s silver is identifiable and separated rather than lumped into a communal pile. Independent audits conducted by Bureau Veritas, a multinational testing and certification company, provide bar-level weightlists and on-chain reserve attestation.

From pilot to live trading Dominion Market was founded by Mark Tormey in May 2025. The company ran a small whitelist launch that was 4x oversubscribed.

The pilot launch landed on May 26, 2026, with adequate silver already acquired to back initial tokens. Live trading followed in August 2026, and SILV is now integrated with multiple DeFi platforms on Solana, including Sunrise, Orca, and Raydium.

Physical redemption is expected to begin three to six months after launch. Once that’s live, holders will be able to swap their SILV tokens for actual silver bars.

Why silver, why now Silver occupies an unusual position in commodity markets. It’s simultaneously a precious metal that investors hoard during uncertain times and an industrial input that factories consume in massive quantities. Solar panels, electronics, and electric vehicles all require silver, and industrial demand has been climbing steadily.

The tokenized silver market’s relatively small size compared to tokenized gold suggests the category is still early. Tokenized gold products like Paxos Gold (PAXG) and Tether Gold (XAUT) have established themselves as credible alternatives to physical gold ETFs.

The 1.5% minting fee is worth noting as a cost consideration. Traditional silver ETFs typically charge annual expense ratios in the 0.3% to 0.5% range, so SILV’s upfront fee needs to be weighed against the DeFi utility and potential yield opportunities that a traditional ETF can’t offer.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The Solana network has recorded the largest year-to-date growth in tokenized credit funds, adding $468.2 million in market capitalization to bring the total to $664.3 million. Token Terminal data reveals that Solana’s growth exceeds the combined gains of every other tracked blockchain, with Monad and zkSync Era following at $110 million and $70.2 million, respectively. 

The surge comes as traditional financial institutions continue exploring blockchain-based investment products, pushing more regulated funds and real-world assets onto public networks.

Solana’s RWA Ecosystem Reaches $3.90B ATH
At the same time, Solana’s broader RWA ecosystem has reached an all-time high of $3.90 billion in total value, according to RWA.xyz data. The network now has 339,421 RWA holders, approaching the 340,000 mark.

The ecosystem currently hosts 2,676 different real-world assets.

Several major financial institutions have contributed to this expansion by bringing tokenized funds and investment products to Solana.

WisdomTree Expands Tokenized Funds to Solana
In January, $171 billion asset manager WisdomTree expanded its tokenized fund suite to Solana, enabling institutional and retail access.

Through WisdomTree Connect™ and WisdomTree Prime®, users can mint, trade, and hold tokenized funds onchain as part of its multi-chain strategy.

Gold Funds and Liquidity Products Move Onchain
In April, OCBC Bank, Lion Global Investors, and DigiFT launched Southeast Asia’s first tokenized physical gold fund, $GOLDX, on Solana backed by a $525.9 million gold fund.

Not long after, State Street and Galaxy Asset Management launched the SWEEP fund on Solana, allowing stablecoin holders to earn yield on idle capital with 24/7 liquidity.

Europe’s Largest Asset Managers Join Solana’s Tokenization Push
Amundi, Europe’s largest asset manager with €2.4 trillion AUM, partnered with Spiko to bring its SAFO fund to Solana under a UCITS structure.

Fellow European firm, Allfunds, administering over €1.8T in assets, expanded its tokenized funds to Solana in June via Project Harmonia, increasing institutional product availability onchain.

Sovereign Wealth Funds and TradFi Giants Join the Action
Last month, Mubadala Capital, managing $385 billion, brought its MCAS fund onchain across Solana, SUI, and Base, with over $75 million in commitments.

The move marks its first entry into onchain markets, following similar steps by BlackRock, Franklin Templeton, and Fidelity.

SEC Decision Strengthens Outlook for Tokenized Funds
Yesterday, August 12, the U.S. Securities and Exchange Commission’s Division of Investment Management issued a no-action letter to Franklin Templeton, allowing traditional registered funds to invest in the firm’s blockchain-based OnChain U.S. Government Money Fund.

The decision allows Franklin’s registered funds, including mutual funds and ETFs, to hold shares of the fund without meeting certain physical custody requirements under older regulations.

Franklin Templeton launched the fund, commonly known as BENJI, on Stellar in 2021 before expanding it to several blockchains, including Solana. The fund invests primarily in U.S. government securities and aims to maintain a stable $1 share price.

The latest regulatory development highlights growing acceptance of blockchain-based fund infrastructure as financial institutions continue experimenting with tokenized assets across multiple networks.

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Crypto Cards Are About to Explode

Analysis: The proportion of short-term Bitcoin holders continues to decline, suggesting the market may be approaching the end of the bear market.

CryptoQuant analyst Darkfost published a note stating that the number of short-term holders (STH) in the Bitcoin market is declining, a positive signal. Currently, the share of BTC supply held by STH has dropped significantly: 1.2% is held for less than 1 day, 2% for 1 day to 1 week, 5.6% for 1 week to 1 month, 6.7% for 1 to 3 months, and 8.1% for 3 to 6 months. Darkfost pointed out that this trend has occurred at the end of every previous bear market. On one hand, this means the proportion of long-term holders (LTH) is increasing. Compared to STH, who are active and more sensitive to market fluctuations, BTC held by LTH is less likely to be transferred. On the other hand, the decline in STH proportion also indicates that market demand has not yet returned. Every BTC purchase creates a new STH UTXO; when market demand is strong, the STH-held supply share rises rapidly, often peaking near market tops. Darkfost believes the market is approaching a "negative extreme" state, where market attention and demand remain at low levels while the number of STH continues to decrease, which is typically a positive signal.

3 minutes ago

CryptoQuant Founder: Bitcoin futures leverage remains elevated, with ETFs and DAT serving as the primary structural buying forces.

CryptoQuant founder Ki Young Ju stated in a post that Bitcoin OG traders have just experienced the most profitable cycle in history. Unlike previous cycles, crypto exchange traders were not the main exit liquidity this time—ETFs and digital asset reserve firms (DAT) served as the primary buyers. This structural buying pushed Binance traders’ unrealized profits to nearly three times the level seen at the 2021 cycle peak. He noted that Bitcoin’s current price range is similar to that two years ago, and the market is in a deleveraging phase. A large amount of unrealized profits accumulated in this cycle flowed into futures leverage; as traders took profits, BTC’s price is now stable near Binance traders’ average cost basis. Ki Young Ju also pointed out that on-chain market leverage (BTC/USDT futures open interest divided by USDT reserves) once exceeded 0.5, and is now around 0.3—still higher than the level before the ETF launch. If ETF inflows continue, futures leverage is expected to rise again. He further recalled that in 2023, OG whales bought heavily when BTC was near $16,000. The buyer/seller ratio shows that a large number of market long positions were built right around the cycle bottom.

3 minutes ago

Binance to launch 6 perpetual contracts for traditional financial assets, with up to 20x leverage.

Binance is set to launch six USDT-denominated perpetual contracts for traditional financial assets on August 14, with underlying assets covering Hong Kong-listed stocks, South Korean-listed equities, and South Korea’s KODEX 200 ETF. The included assets are: CICT (3308.HK), Samsung Electro-Mechanics (009150.KS), Hanmi Semiconductor (042700.KS), LG Electronics (066570.KS), NAVER (035420.KS), and KODEX 200 ETF (069500.KS). The CICT USDT perpetual contract will go live at 10:00 AM Beijing Time on August 14, with the remaining five contracts launching at 5-minute intervals afterward. All contracts support up to 20x leverage, have funding rates settled every 8 hours, feature upper and lower limits of ±2%, and are compatible with multi-asset mode.

3 minutes ago

Duan Yongping: Willing to hold positions in Moutai and enter a 100 million RMB bet with any domestic fund, following Buffett’s decade-long bet.

Chinese entrepreneur Duan Yongping announced on social media that he is willing to hold Moutai shares and any domestic fund, entering into a 10-year, 100 million RMB bet modeled after Warren Buffett’s iconic bet. Duan stated: "The premise is that we agree in advance that the charity the winner donates to is recognized by the other party. I will donate to BBK Experimental School. There are too many details to sort out. Unless a highly credible institution steps in to facilitate this. If both sides consent, we can donate the money upfront, and the loser will pay the other party after 10 years."

3 minutes ago

Huobi HTX has launched its 13th anniversary event titled "Resilience Sees the Future", with a million-dollar prize pool activated simultaneously.

According to an official announcement, to mark Huobi HTX’s 13th anniversary, the platform will launch the "13th Anniversary Carnival Month – Resilience for the Future" event from 13:13 on August 13 to 13:13 on September 13 (UTC+8), inviting global users to join growth challenges. During the event, users can light up the Future Gem by completing designated tasks and unlock tiered anniversary benefits. Grand prizes include a 2,000 USDT Future Exploration Fund, a flight and accommodation package for Singapore’s TOKEN2049, and high-end limited-edition 13th anniversary gifts, among others. Additionally, Huobi HTX has launched a concurrent referral event with a million-dollar prize pool, covering trading scenarios including spot, derivatives, and margin. Users who complete designated tasks are eligible to participate in the reward split.

3 minutes ago

Lenovo's CEO announced that in collaboration with NVIDIA, the company plans to launch AI PCs equipped with RTX chips later this year.

Lenovo's CEO stated that the company will partner with NVIDIA (NVDA.O) to launch AI PCs equipped with RTX chips later this year. (Jinshi)

3 minutes ago

GSR shifted its Core3 model toward Solana on Aug. 12, raising SOL to 43.6% of the portfolio and making it the model’s largest allocation.

Summary

GSR raised Solana to 43.6%, making SOL the largest allocation in its Core3 model portfolio. Bitcoin fell to 16.9% of Core3, while Ether’s allocation declined to 39.5% this week overall. Solana gained 2.98% over seven days, outperforming Bitcoin and Ether in GSR’s latest weekly comparison. Ether remained the strongest 30 day performer, rising 7.88% despite its reduced model portfolio weight. Core3 gained 5.30% monthly but still trailed the equal weight basket over longer measured periods. Ether fell to 39.5%, while Bitcoin dropped to 16.9%, the smallest weight among the three assets.The firm said the change reflected a move in its relative alpha signals toward Solana as SOL showed stronger near term price momentum. GSR’s written commentary lists the Solana weight at 43.7%, while the accompanying allocation table shows 43.6%. This article uses the table figure.

GSR Model Makes Solana Top Allocation to 43.6%, Cuts Bitcoin to 16.9%

GSR’s Core3 model portfolio raised its Solana allocation to 43.6%, making SOL its largest position, while cutting Ether to 39.5% and Bitcoin to just 16.9%, as the model’s relative alpha signals shifted further… pic.twitter.com/C0aRl77W4h

— Wu Blockchain (@WuBlockchain) August 13, 2026 Solana allocation jumps 7.1 points in one week The latest allocation marks a sharp reversal from the prior week. On Aug. 5, GSR assigned 36.5% to Solana, 44.1% to Ether and 19.3% to Bitcoin. Solana therefore gained 7.1 percentage points in the model within seven days, while Ether lost 4.6 points and Bitcoin lost 2.4 points.

As crypto.news previously reported, the prior weekly allocation tilted toward Bitcoin as trading activity weakened and volatility eased. The Aug. 12 update reversed part of that move. GSR said its latest positioning reflected proprietary relative signals rather than a simple ranking of recent returns.

The distinction matters because Core3 is not presented as a live investment recommendation. GSR says the weekly publication is a model framework intended for professional investors and does not constitute advice or a recommendation to allocate to the three assets.

Solana leads weekly returns while Ether leads the month Solana delivered the strongest seven day return in GSR’s latest table, gaining 2.98%. Bitcoin declined 1.02% over the same period, while Ether slipped 0.20%. Over 30 days, however, Ether remained ahead with a 7.88% gain, compared with 3.19% for Bitcoin and 2.44% for Solana.

The Core3 model itself returned 0.85% over one week and 5.30% over one month, ahead of the equal weight basket at 0.59% and 4.68%, respectively. Longer periods remain weaker. Core3 was down 35.58% year to date and 70.28% over one year, compared with losses of 32.22% and 63.44% for the equal weight basket.

Volatility also remained relatively subdued. GSR put 30 day volatility at 26.82% for Bitcoin, 39.75% for Ether and 35.26% for Solana. The firm said Solana trading volume had softened over both seven and 30 day periods, meaning its larger model weight did not coincide with stronger volume across those windows.

U.S. Solana access expands as GSR favors SOL The model shift comes as U.S. investors gain more exchange traded routes to Solana exposure. Morgan Stanley Investment Management announced on July 28 that it had launched the Morgan Stanley Solana Trust, MSOL, on NYSE Arca alongside an Ether product. The release said MSOL carries a 0.14% expense ratio and seeks to track SOL while staking a portion of its holdings.

Morgan Stanley expanded its crypto ETP lineup after launching a Bitcoin product earlier in 2026. An SEC prospectus says the Solana trust may stake up to 100% of its SOL under normal market circumstances, subject to liquidity needs and legal or regulatory considerations. The filing also details risks tied to staking, custody and concentration in one digital asset.

Competition among U.S. products has also increased. A 21Shares filing dated July 27 said the issuer would waive TSOL’s 0.21% sponsor fee for one year beginning July 28. The company said the product can capture staking rewards, while warning that rewards can fluctuate and staking creates operational and liquidity risks.

Those product developments do not prove that U.S. investors share GSR’s preference for Solana. They do show that regulated U.S. exchange traded access to SOL has broadened and become more competitive while the Core3 model has shifted exposure away from Bitcoin and Ether.

What traders will watch next GSR publishes the Core3 model weekly, making the next allocation an immediate test of whether the Solana overweight persists or reverses. Recent updates show how quickly the weights can move. Bitcoin rose from 9.2% on July 15 to 19.3% on Aug. 5 before falling back to 16.9% in the Aug. 12 model.

Volume, relative momentum and volatility will therefore remain useful measures to watch alongside the next model update. GSR has already cautioned that its opinions and estimates can change without notice as market conditions change.

The firm also warns against treating Core3 results as returns available from a live strategy. Its published figures are hypothetical, gross of transaction and management fees and exclude staking rewards. GSR further states that it may trade the assets for its own account and may hold positions that differ from the views expressed in its commentary.

Solana remained operational through an infrastructure failure that temporarily disrupted part of its validator network on Aug. 12, according to Solana Foundation technology executive Jacob Creech. 

Summary

597 of 699 staked Solana validators kept voting while the network continued producing blocks normally. 102 validators temporarily stopped voting, while affected operators recovered within forty minutes after the disruption. 28.83% of staked SOL went delinquent, approaching the 33.34% threshold where transaction finality stops entirely. Teraswitch said a malformed route disrupted twelve European and Asian sites before engineers restored connectivity. Solana’s status page recorded no mainnet incident and shows 100% cluster uptime across ninety days. Of 699 staked Solana validators, 597 continued voting while blocks and transactions continued to be processed. Affected validators recovered within 40 minutes.

Creech said validators in the Solana Foundation Delegation Program were unaffected. Solana’s official status page recorded no mainnet incident on Aug. 12 or Aug. 13 and showed 100% Mainnet Beta cluster uptime over the previous 90 days.

Solana validators kept finality despite a sharp drop While the mainnet stayed online, separate analysis showed the incident came closer to disrupting finality than the raw validator count suggests. Marinade Finance found 28.83% of all staked SOL became delinquent for about 33 minutes. Solana requires more than two thirds of stake to participate for transactions to reach finality, putting the relevant offline threshold at 33.34%.

Marinade identified roughly 90 validators affected by the routing failure, while Creech’s 597 of 699 figure means 102 validators were not voting at one point. The difference reflects separate measurements rather than evidence that all 102 validators shared the same infrastructure failure.

Creech described the incident as a “proof point for Solana’s resiliency.” The network did withstand the disruption, but Marinade’s data also showed the delinquent stake reached about 86% of the level at which finality would have stopped.

Last night an infrastructure provider used by some Solana validators had a failure. You probably didn't notice, because the network didn't: blocks kept producing and transactions kept landing.

The facts:

– The Solana network remained operational
– 597 of 699 staked validators…

— Jacob Creech (@jacobvcreech) August 12, 2026 Teraswitch routing fault spread from Miami to Asia Teraswitch’s status report traced the infrastructure problem to a malformed default route originating from its MIA1 facility in Miami. A route reflector in Amsterdam propagated the altered route into European and Asia Pacific markets, where local routers preferred it over valid routes. Twelve sites in London, Amsterdam, Dublin, Frankfurt, Singapore and Tokyo lost reachability. North American sites were not affected.

Engineers identified the malformed route within 10 minutes and removed Miami from the private backbone. Service returned at 04:16:15 UTC. Teraswitch later deployed a global change across its compute sites so a similarly malformed route should not block traffic forwarding. The provider said the underlying defect remains under investigation and a full root cause report will follow.

The event also exposed infrastructure concentration among validators. Marinade calculated that one autonomous system held about 118.9 million SOL, or more than one quarter of all staked SOL, and roughly 94% of that stake went offline together.

Solana avoids a repeat of its 2024 network halt The outcome contrasts with the network’s February 2024 restart after block production stopped. Validators required a coordinated restart during that incident, and Solana remained offline for nearly five hours. The Aug. 12 infrastructure failure did not require a mainnet restart.

Solana has since pursued additional resilience through independent validator software. In related coverage, Firedancer began producing Solana mainnet blocks in 2026, adding another validator client path alongside the dominant Agave ecosystem.

The latest disruption tested a different type of decentralization: physical hosting and network connectivity rather than validator software. Solana continued processing transactions, but the concentration of stake behind common infrastructure allowed one provider failure to remove a large share of voting stake at once.

What happens next Teraswitch’s immediate configuration fix is already deployed, but its investigation is not finished. The provider is still examining why the Miami default route was advertised with incorrect attributes and has engaged its hardware vendor. A full report is expected once that work is completed.

Validator operators are also likely to face closer scrutiny over infrastructure redundancy. Marinade said it plans to review concentration limits by autonomous system and data center and provide more transparency around automatic failover arrangements. For Solana, the next test is whether those infrastructure changes reduce the share of stake exposed to any single routing failure.

Key Takeaways Approximately 29% of Solana’s staked tokens went offline Wednesday following a routing malfunction at Teraswitch data centers Solana approached within approximately 20 million SOL of hitting the critical 33.34% offline threshold that triggers network paralysis The infrastructure failure began in Teraswitch’s Miami hub before cascading to facilities throughout Europe and Asia A single network operator held over 25% of staked SOL, exceeding Solana’s recommended safety parameters According to Solana Foundation officials, transaction processing and block production continued uninterrupted throughout the crisis The Solana blockchain narrowly escaped a catastrophic network shutdown Wednesday when infrastructure problems at Teraswitch data centers forced nearly 29% of validators offline. The close call has intensified scrutiny around the network’s reliance on centralized infrastructure providers.

Solana Stays Online as Outage Disrupts 102 of 699 Validators

Solana Foundation technology executive Jacob Creech said an infrastructure provider used by some validators suffered an outage overnight, but the Solana network continued producing blocks and processing transactions… pic.twitter.com/lNqpmGYIdX

— Wu Blockchain (@WuBlockchain) August 13, 2026

The cascade of failures originated from Teraswitch’s Miami data center. Technical teams discovered that an incorrect default route advertisement propagated through a route reflector located in Amsterdam, eventually disrupting network connectivity across European and Asian facilities. A dozen data center locations experienced complete network path failures, spanning cities including London, Amsterdam, Dublin, Frankfurt, Singapore, and Tokyo. Facilities in North America remained operational.

Staking service provider Marinade documented approximately 90 validators becoming delinquent throughout the disruption. These validators collectively controlled 28.83% of all staked SOL tokens. The blockchain hovered dangerously close—within roughly 20 million SOL—of breaching the critical 33.34% threshold that would trigger complete network paralysis.

In blockchain systems, finality represents the stage where transactions become permanently irreversible. When more than one-third of staked tokens simultaneously disconnect, the network loses its ability to finalize transactions, effectively halting the entire system for all participants.

Teraswitch engineers diagnosed the root cause in approximately 10 minutes. Full connectivity restoration occurred by 4:16 a.m. UTC. The 90 impacted validators forfeited a collective 333 SOL in staking rewards, though Marinade confirmed these losses would be compensated through validator bond mechanisms.

Infrastructure Centralization Emerges as Primary Vulnerability Beyond the immediate technical failure, Marinade highlighted stake centralization as the fundamental issue. Analysis revealed that a single network operator, tracked through ASN AS20326, controlled 27.34% of total staked Solana at the incident’s peak. This concentration exceeded Solana’s self-imposed 25% distribution guideline. Approximately 94% of SOL associated with this operator disappeared offline during the outage.

An additional 14.1 million SOL tokens went dark across validators hosted through Latitude.sh, Limestone, Butterfly Research, and Allnodes. Marinade acknowledged uncertainty regarding whether these secondary outages stemmed from the identical routing malfunction.

The platform candidly acknowledged its own infrastructure concentration challenges, revealing that four autonomous system numbers control two-thirds of its delegated stake. “Nobody should be comfortable with that, us included,” Marinade’s team acknowledged in their post-incident analysis.

Solana Foundation Defends Network Architecture Solana Foundation Vice President of Technology Jacob Creech characterized the incident as validation of the network’s fundamental architecture. He emphasized that 597 out of 699 staked validators maintained voting operations throughout the crisis. Disabled validators successfully restored functionality within 40 minutes.

“Because Solana validators are distributed across independent infrastructure providers, the failure of a single provider did not interrupt the network,” Creech stated on X.

Solana currently secures $4.3 billion in total value locked across DeFi protocols, though the network has weathered numerous outages throughout its operational history. A February 2024 network halt required approximately five hours for full recovery. At publication time, Solana was trading around $75.79.

Key Highlights GSR’s Core3 portfolio model increased Solana’s weighting to 43.6%, establishing it as the dominant position. Bitcoin’s allocation dropped to 16.9%, representing its lowest share among the three major assets tracked. Ethereum’s weighting decreased to 39.5% following its top position the previous week. Solana delivered a 2.98% gain over the seven-day period, surpassing both Bitcoin and Ethereum. Recent weeks have seen Morgan Stanley and 21Shares introduce U.S.-based Solana exchange-traded products. On August 12, GSR implemented a significant rebalancing of its Core3 model portfolio, elevating Solana’s position to 43.6% — establishing it as the portfolio’s largest holding — while simultaneously reducing Bitcoin’s share to a mere 16.9%.

GSR Model Makes Solana Top Allocation to 43.6%, Cuts Bitcoin to 16.9%

GSR’s Core3 model portfolio raised its Solana allocation to 43.6%, making SOL its largest position, while cutting Ether to 39.5% and Bitcoin to just 16.9%, as the model’s relative alpha signals shifted further… pic.twitter.com/C0aRl77W4h

— Wu Blockchain (@WuBlockchain) August 13, 2026

This adjustment marks a notable shift from the previous week’s positioning. As of August 5, the portfolio allocated 36.5% to Solana, 44.1% to Ether, and 19.3% to Bitcoin. In just one week, Solana’s weighting jumped 7.1 percentage points, while Ether declined by 4.6 points and Bitcoin fell by 2.4 points.

According to GSR, the rebalancing decision stemmed from the firm’s proprietary relative alpha signals, which indicated stronger short-term momentum prospects for Solana. The company emphasized that Core3 functions as a model framework designed for institutional investors and does not constitute direct investment advice.

During the seven-day measurement period, Solana delivered the strongest performance with a 2.98% return. In contrast, Bitcoin declined 1.02%, while Ether experienced a modest 0.20% decrease.

Solana (SOL) Price When examining the 30-day timeframe, Ether emerged as the top performer with a 7.88% gain. Bitcoin delivered a 3.19% return while Solana recorded a 2.44% increase over the same interval.

How Core3 Has Performed The Core3 model generated a 0.85% return over the weekly period and 5.30% monthly. These results exceeded the equal-weighted benchmark portfolio, which delivered 0.59% and 4.68% returns across the same timeframes.

Looking at extended horizons, Core3 continues to show negative performance. The model is down 35.58% for the year to date and has declined 70.28% over a twelve-month span. Meanwhile, the equally weighted basket shows losses of 32.22% and 63.44% across those identical periods.

Current 30-day volatility measurements stand at 26.82% for Bitcoin, 39.75% for Ether, and 35.26% for Solana. GSR observed that Solana’s trading volume has declined across both seven and 30-day measurement windows, indicating that the increased allocation wasn’t accompanied by heightened trading activity.

New Solana Investment Vehicles in U.S. Markets This portfolio adjustment coincides with expanding regulated Solana access for American investors. On July 28, Morgan Stanley introduced the Morgan Stanley Solana Trust (MSOL) on NYSE Arca, featuring a 0.14% expense ratio. The trust is permitted to stake up to 100% of its SOL holdings under standard operating conditions.

Additionally, 21Shares submitted a filing on July 27 announcing it would eliminate the 0.21% sponsor fee on its TSOL product for a one-year period beginning July 28.

Crypto analyst Michaël van de Poppe (@CryptoMichNL) provided technical analysis on SOL’s price action, stating his preference to see Solana maintain its pattern of higher lows. He identified the $73.50–$74 range as a critical support zone that needs to hold. Should that support level remain intact, he maintains price targets approaching $120.

Quite clearly you'd want to see $SOL continue to be printing higher lows.

In that regard, I think it's important to hold the $73.5-74 area for support.

If that happens, the targets to $120 remain intact. pic.twitter.com/yKALiRlAHF

— Michaël van de Poppe (@CryptoMichNL) August 11, 2026

GSR releases Core3 updates on a weekly basis. Bitcoin’s model allocation has fluctuated from 9.2% on July 15 to 19.3% on August 5, before declining to 16.9% in the most recent August 12 update.

Digital asset trading firm GSR has significantly increased Solana‘s weighting to 43.6% in its Core3 model portfolio, making the asset the largest position among its three key holdings. In the same move, GSR reduced Bitcoin‘s share to 16.9%, which is the lowest level recorded for the cryptocurrency within Core3 since its inception.

Solana overtakes Ether and Bitcoin in portfolio allocationThe shift follows a notable rebalancing on August 12. In the preceding week, Core3 allocated 36.5% to Solana, 44.1% to Ethereum, and 19.3% to Bitcoin. Solana’s share rose sharply in just seven days, overtaking both of its counterparts. Meanwhile, Ether’s allocation slipped to 39.5%, falling from the top position, and Bitcoin saw a reduction of 2.4 percentage points.

GSR attributed these changes to proprietary relative alpha signals, which point to strong short-term momentum favoring Solana. The Core3 model, designed as an institutional framework, does not provide direct investment advice, the company emphasized.

GSR’s positioning reflects its view that Solana currently demonstrates a relative performance edge, based on alpha signals and recent market momentum.

During the latest seven-day period, Solana recorded a 2.98% gain, outperforming competitors. In contrast, Bitcoin fell 1.02% and Ether slipped 0.20% over the same span.

On a 30-day basis, Ether was the leading asset, returning 7.88%. Bitcoin gained 3.19%, and Solana was up 2.44% through the same interval.

AssetCurrent Weight1-Week Return30-Day ReturnSolana43.6%+2.98%+2.44%Ethereum39.5%-0.20%+7.88%Bitcoin16.9%-1.02%+3.19%Recent performance and volatilityThe Core3 model produced a 0.85% gain over the last week and a 5.30% return for the month, surpassing its equal-weighted benchmark, which posted 0.59% and 4.68% in the respective periods.

Despite these short-term gains, Core3’s annual and twelve-month performances are negative. Year to date, the model is down 35.58%, while over the past twelve months, it has declined 70.28%. The equal-weighted portfolio also remains in negative territory, though losses there are slightly lower.

PortfolioYTD Return12-Month ReturnCore3-35.58%-70.28%Equal-Weighted-32.22%-63.44%Volatility measurements for the past 30 days showed Bitcoin at 26.82%, Ether at 39.75%, and Solana at 35.26%. GSR observed that Solana’s trading volume declined during both the seven- and 30-day periods, indicating that the increased portfolio weight was not matched by higher trading activity.

New Solana investments in US marketsThis portfolio change comes as regulated Solana products expand their presence in the US market. Morgan Stanley, one of the world’s leading investment banks, introduced the Morgan Stanley Solana Trust (MSOL) on NYSE Arca on July 28. The trust features a 0.14% expense ratio and allows up to 100% of its SOL holdings to be staked, providing investors with both price exposure and potential staking rewards.

On July 27, 21Shares announced that it would eliminate its 0.21% sponsor fee for its TSOL product for one year, starting from July 28.

Crypto market analyst Michaël van de Poppe noted his preference to see Solana maintain its trend of higher lows and cited the $73.50–$74 support zone as a critical area. If this level holds, van de Poppe expects $120 to remain a plausible near-term target for SOL.

Michaël van de Poppe highlighted that holding the $73.50–$74 support area is essential for maintaining the current upward trend in Solana, with upside targets near $120 if the pattern continues.

GSR, founded in 2013, is a global crypto market maker that provides liquidity, investment, and risk management solutions to the digital asset industry. The company issues weekly updates on its Core3 portfolio, tracking Bitcoin, Ethereum, and Solana allocations. Since July, Bitcoin’s weighting in the Core3 model has ranged from 9.2% to 19.3% before moving to a current low of 16.9%.

Mini dictionary: GSR, established in 2013, is a digital asset trading company offering liquidity services, market making, and portfolio modeling to institutions operating in the cryptocurrency space.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Solana’s blockchain faced a critical moment early Wednesday, coming within 14% of a potential network shutdown after 28.83% of its staked SOL tokens failed to participate in consensus. The event, triggered by service issues at data provider Teraswitch and reported by Marinade Finance, nearly ended Solana’s uninterrupted 30-month uptime record.

Network risks and consequencesSolana’s protocol is designed to halt block finalization if delinquency among staked tokens crosses the 33.34% threshold. Delinquency occurs when validators, responsible for helping reach consensus, suddenly become unreachable or inactive.

During this latest incident, the delinquency rate surged to 28.83%, just shy of the danger zone that could have forced a complete stop of the blockchain. Marinade Finance stated that the disruption affected 90 network validators, resulting in a total reward loss of 333 SOL. At a market price of $76.9 per SOL, the reward loss represented approximately $25,600.

If the unresponsive portion of staked SOL had reached 33.34%, the network would have entered an offline state, threatening stability and transactions. However, stabilization occurred before reaching that critical mark.

According to Teraswitch, “Customers at LON1, AMS1, AMS2, AMS3, DUB1, DUB2, FRA2, SGP1, SGP2, TYO1, TYO2 and TYO3 experienced loss of reachability to Internet destinations, as well as to internal Teraswitch backbone destinations between affected sites. Other North American sites were not affected.”

Solana’s official status page continues to report 100% uptime over the last 90 days. The last total network halt occurred on February 6, 2024, lasting about five hours.

Incident resolutionTeraswitch reported that their engineers quickly identified a malformed route causing connectivity issues for European and Asian sites while North American sites remained unaffected. The team removed the MIA1 (Miami) site from their backbone to prevent further disruptions and began restoring services within ten minutes. Local alternative routes helped reconverge affected areas, with full restoration logged at 04:16:15 UTC.

Marinade characterized the event as having minimal market impact, noting that only three validators—Solana Strategies’ laine, Cogent Crypto, and Lion3d—remained fully operational. Solana’s second-largest validator, Helius, experienced downtime for the event’s entire 33-minute span. Marinade also confirmed that validator operators would absorb the 333 SOL in lost rewards, and stakers were shielded from direct exposure.

Recent network upgrades and ongoing reliabilityJust days before this incident, Solana celebrated a 30-month streak without a network-wide outage. The blockchain’s resilience has recently improved, following major software updates addressing previous vulnerabilities—most notably, a February 2024 issue traced to a bug in the LoadedPrograms JIT cache. This bug forced validators into a loop, stalling consensus until a patch by Anza allowed operations to resume.

The network’s increasing stability is attributed to recent advancements including a QUIC-based transport layer with stake-weighted spam throttling, a new priority fee market generating 88% of daily revenue, and the Firedancer validator client—brought live by Jump Crypto—which provides an additional layer of software diversity. Operating multiple clients reduces the risk of a single code flaw disabling the entire blockchain.

The network’s reliability now relies on a combination of protocol improvements and client diversity, making a complete halt far less likely even in the face of significant validator outages.

In a landscape where sudden Fed policy decisions or new altcoin listings can dramatically move the market within seconds, fast access to consolidated market tools is becoming essential. Traders and validators are increasingly adopting privacy-first solutions like CryptoAppsy to bring live charts, price alerts, token-specific news, and macroeconomic data onto a single dashboard, reducing the costs and risks of switching between separate platforms. By eliminating signup requirements, these tools allow users to monitor disruptions like the latest Solana incident and respond to fast-changing network and price conditions in real time.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Updated 3 hrs agoPublished 6 hrs ago

2 min read

(Public Domain Pictures/Pixabay)Summary

Kalshi’s order book is adding Solana-based DoubleZero’s low-latency market data feed to meet institutional demand. The DoubleZero Foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, distributing it simultaneously to all connected traders.The model has underpinned traditional financial exchanges, including NYSE, Nasdaq and the CME, for decades, the foundation said.The growing presence of financial institutions in cryptocurrency brings with it increasing demand for Wall-Street style systems in digital asset markets, such as servers that offer split-second advantages when executing trades.

Kalshi is looking to meet that demand by adding Solana-based DoubleZero’s low-latency market data feed to its prediction market order book.

The DoubleZero Foundation said this will provide trading firms with a machine-readable view of a prediction market for pricing, hedging and signal generation on Solana, one of the major layer-1 blockchains.

The foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, publishing the data and distributing it simultaneously to all connected traders.

In traditional finance (TradFi), institutions use specialized networks to access data at high speed, whereas in crypto, traders still largely rely on the internet. DoubleZero attempts to address that through a bespoke onchain system.

“This is the same distribution model that has underpinned traditional financial exchanges, from NYSE to Nasdaq to the CME, for decades,” the foundation said in an emailed announcement on Wednesday.

Prediction markets like Kalshi provide a probability assessment of macroeconomic releases like interest-rate cuts and inflation statistics, geopolitical events and asset price movements. Such statistics have the ability to cause significant price movement within milliseconds of their release, hence the demand for a Kalshi feed built into onchain data infrastructure.

Kalshi, one of the world’s two largest prediction markets (the other is Polymarket), will provide its most actively traded contracts at rollout, including crypto perpetual futures, derivatives contracts allowing traders to speculate on an asset’s price without an expiration date.

DoubleZero aims to give traders “the complete picture of Kalshi,” according to Wednesday’s announcement, “all on one low-latency connection.”

CORRECTION (Aug. 12, 2026, 19:40 UTC): Clarifies relationship with this new partnership.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Flash.Trade's founder said Foundation backing for a rival contributed to his decision to wind the perps exchange down. Foundation president Lily Liu says the market decides who wins.

Flash.Trade founder Anas Khader gave three reasons for shutting down his Solana perps exchange on Aug. 7, and the second one named the Solana Foundation. Four days later the Foundation's president was publicly rejecting the word "kingmaking."

The underlying discussion is how an organization with a treasury and a large audience should behave in a category where several teams are competing. It can concentrate support behind the product it judges best for the chain, or spread support across all of them and let volume settle the question.

Solana's perps market cleared $1.34 billion in 24-hour volume on Wednesday with $445.11 million in open interest, per DefiLlama, against Hyperliquid's $4.45 billion and $11.21 billion. Phoenix, the venue Khader later named, ranks fourth on Solana by 24-hour volume at $40.23 million, behind GMTrade's $918.05 million, Pacifica's $262.88 million and Jupiter's $109.65 million. Flash.Trade did $4.79 million.

Crowned Dearly"The thing that hurt me personally was the sincere disregard by the folks at the foundation," Khader wrote on Aug. 7. "It was really painful, you never expect such coldness, supporting only one team so dearly bcz it help Solana succeed in their view."

He said he had learned of a plan to back that team "to the teeth" in the run-up to Breakpoint, the Foundation's flagship conference, because "Solana needs one winner, and they really do." Khader added a caveat in parentheses, declining to blame the Foundation for the choice and calling his own reaction emotional: "watching one team being crowned dearly, which is wrong of me." The shutdown post named no team.

He named Phoenix two days later. "Phoenix was doing lower volumes than us and had to literally pay money to even match us and that money is something that comes from foundation's grants directly or indirectly," Khader wrote on Aug. 9. He gave no evidence for the grant claim. The Foundation has not disclosed recipients or amounts under its perps program.

Flash never raised outside capital and distributed roughly $520,000 in USDC revenue share to FAF holders over its life, The Defiant reported. Proceeds from any acquisition go pro rata to token holders, with team tokens excluded. Khader also cited team misalignment and exhaustion from running a bootstrapped exchange.

DeFi researcher Ignas was blunter than Khader about the Foundation's role, replying to the announcement: "Solana failing to support you was obvious. Shilling shitty Pheonix which is inferior product was low." [sic]

One Clear WinnerSolana DeFi commentator Fabiano framed the episode as a deliberate architecture bet. Phoenix runs its order book, matching engine and market makers onchain, which generates Solana activity; Flash priced off oracles and pooled liquidity, "making Solana primarily the settlement layer," he wrote on Aug. 8.

"From a marketing perspective, pooling resources on one potential Hyperliquid competitor may also make more sense than supporting several smaller protocols," Fabiano wrote. "It's brutal for builders, but Solana probably needs one clear winner in perps."

The Foundation's own program language points the same way. Its June 1 call for fully onchain perps offers distribution, technical assistance and capital, and prioritizes teams with no offchain sequencers or matching engines, genuine onchain price discovery, and protocol-level revenue routing to Solana. Phoenix, built by Ellipsis Labs, meets every criterion. Flash did not.

Open MeritocracySolana Foundation President Lily Liu answered on Aug. 10. Everything the foundation does rolls up to attracting talent and capital to Solana, she wrote, and concentration works against both.

"'King making' is short sighted and self limiting: it caps how much of either can form," Liu wrote. She also rejected the opposite pole. Credible neutrality "sounds like high-minded fairness. In practice it's great for code but comes up short applied to humans, whose express role is to exercise judgment, at risk of fallibility. Aspiring to eliminate the need for taste, judgment, and leadership doesn't remove human judgment. It pushes it into the shadows."

Her stated principle: "open meritocracy: actively facilitate competition, let the market decide. No one is bigger than the market — for capital, for talent, or for users."

Liu named the public perps program and Frontier Traders, the institutional program launched June 11 for firms clearing $500 million in trailing 30-day onchain volume, as evidence of breadth. She conceded the optics problem: "I don't think our socials presence has fully represented the actual diversity of support or range of perspectives on perps. (This will change.)"

"Entrepreneurship is a brutal battle. Most attempts fail, for all kinds of reasons. The presence or absence of RTs aren't high on that list,” she wrote. “Our job is to try to attract the best talent and capital to Solana to compete. The Foundation doesn't decide who succeeds or fails — the market does."

Toly Jumps InSolana Labs co-founder Anatoly Yakovenko made the same point on Aug. 9 with a sarcastic quote-tweet. Referencing a report that mobile trading app fomo had flipped Hyperliquid in 24-hour revenue, he asked: “How could they do this without Solana Foundation?”

fomo posted $2.64 million in revenue for the week ending Aug. 8, an all-time high on Solana, with 24-hour revenue peaking near $399,000. Hyperliquid has posted single days above $6.8 million. fomo raised $75 million in June at a $550 million valuation and had passed 625,000 users.

Everything Else Is DistractionMax Resnick, lead economist at Solana core developer Anza, moved the argument to first principles on Aug. 11. "The only goal of the Solana foundation should be maximizing the long term value of the Solana token," he wrote. "Everything else is a distraction. Everything that they do should be justified with respect to this ultimate goal."

That mandate supports both sides of the kingmaking argument. A foundation optimizing for token value has a defensible reason to route capital and attention toward the architecture that captures the most fees onchain, which is close to the case Fabiano made for Phoenix. Resnick's reply to a critic conceded the discretion: Google carries a fiduciary duty to maximize enterprise value, "they still invest in things like Waymo."

6th Man Ventures managing partner Mike Dudas pushed back on the input. "I still think it's unclear whether SOL will be valued more on fees or feels long term," he wrote.

The foundation has been through this before without resolving it. In March, Solana Foundation chief product officer Vibhu Norby answered a similar round of criticism with grant figures: $10,000 Superteam awards, $50,000 for Y Combinator-track founders, roughly $40,000 average for public-goods work, and more than 300 ecosystem companies promoted on Foundation social accounts since Jan. 1.

SOL traded at $75.74 on Wednesday, up 1.4% on the day and inside a seven-day range of $72.30 to $77.63, per CoinGecko. It sits 74% below its January 2025 record of $293.31.