In a recent development, Binance has expanded its support for Phala Network (PHA), Steem (STEEM), and Usual (USUAL). Although this development provides a bullish outlook for these coins, they have experienced significant price drops due to the current bearish sentiment in the broader crypto market. Notably, these declines come amid Bitcoin dipping below the $92K mark. Phala Network (PHA) has seen a 13% drop in the last 24 hours, while Steem and Usual also experienced significant declines. While Binance’s move may bring enhanced liquidity and user engagement, the broader market conditions could still impact these coins’ potential to rally.
Binance Unveils New Trading Pairs for PHA, STEEM, USUAL, and PLN On January 9, Binance’s announcement revealed new trading pairs for Phala Network, Steem, Usual, and Polish Zloty. The new pairs, PHA/USDC, STEEM/USDC, USUAL/USDC, and PLN/USDC, will be available for trading starting January 10 at 08:00 (UTC). This move further expands its trading options, catering to a wider range of users.
The announcement also confirmed the introduction of trading bot services for these pairs. Notably, PLN represents the Polish Zloty, a fiat currency, not a digital asset. These trading bots will enhance user experience by enabling advanced trading strategies across Binance Spot.
However, users in certain restricted regions, including the United States, Canada, and North Korea, will not be able to trade these pairs due to regulatory constraints. The leading crypto exchange, Binance, continues to prioritize compliance with international regulations to maintain a secure trading environment globally.
Phala Network Expands Its Reach with Ethereum Layer 2 Solution Phala Network (PHA), a prominent player in Polkadot’s ecosystem, has launched a Layer 2 network on Ethereum. Developed in collaboration with Succinct Labs and Conduit, this rollup leverages OP Succinct technology, combining optimistic and zero-knowledge proofs. This transition allows PHA to connect with Ethereum’s robust user base while offering cryptographic computing solutions.
The project introduces Trusted Execution Environment (TEE) technology for secure, private smart contracts. With this, Phala Network aims to expand its AI capabilities, enhancing privacy and reliability for decentralized applications. Notably, the recent listings of Phala’s perpetual contract on Binance triggered a 300% price surge, showcasing growing interest in the project’s innovative solutions.
What’s Next For PHA, STEEM, And USUAL Coins Phala Network’s (PHA) price saw a 13% drop in the last 24 hours, trading at $0.2970. The token recorded a 24-hour low of $0.296 and a high of $0.365. With a market cap of $237 million and a trading volume of $152 million, PHA remains up 82% over the last month and 170% in the last quarter.
PHA Price STEEM price traded at $0.3028, with a 24-hour range of $0.28–$0.36. The coin was up 26% this month and 70% over the last quarter. It has a $146 million market cap and $613 million in trading volume.
However, USUAL price declined by 11%, trading at $0.65. It had a 24-hour low of $0.64 and a high of $0.75. The coin’s market cap stands at $341 million, with a $166 million trading volume, though it is down 36% in the past week.
Binance previously delisted trading pairs for Axelar (AXL), Coin98 (C98), and Enjin (ENJ) led to price declines for these tokens, as delisting reduces liquidity and market access. However, Binance’s listing of new pairs for tokens like PHA, STEEM, and USUAL could have the opposite effect. Listings on major exchanges generally improve token visibility, liquidity, and investor confidence, potentially resulting in price rallies. In other words, these tokens are expected to witness recovery ahead, given the exchange’s strong dominance in the market.
OriginsUsual began with a small group of contributors and a clear idea: the value created by a stablecoin should belong to the people who use it.
In much of DeFi, a stablecoin issuer functions like a bank. Control over flows, revenues, and decisions sits at the center. Economic upside is captured upstream, while users remain downstream. A system cannot meaningfully claim decentralization if this imbalance remains intact.
Before the tokenBefore launch, the work was primarily infrastructural. A small group focused on building the foundations of the protocol, without a clear view of how or when the system might generate revenue. A financial system is not shipped like a consumer product. It must be secured, tested, audited, and operated with full responsibility from the first day.
During this phase, the project began to attract early supporters, including investors, angels, and ecosystem participants. Their involvement was practical. They provided the capital, expertise, and execution capacity needed to move from an initial design to a deployed protocol.
Funding the protocolTo finance development ahead of launch, investors received USUAL STAR, a token distinct from USUAL, while remaining linked to it.
Its role was narrow. It allowed early funding to be linked to the protocol’s issuance mechanics without inflating USUAL itself, whose supply was primarily intended for the community. This preserved flexibility in how ownership and governance would ultimately consolidate once the system was live
The reasoning was straightforward. If token supply is tied to protocol performance, then the team and early supporters should remain directly exposed to how the system performs over time. Alignment was designed to follow real value creation, rather than promises made before the protocol existed.
The TGEThe TGE marked a clear transition. By that point, the protocol was live, audited, and functioning. Governance could exist in practice, not just in theory.
From then on, Usual was no longer defined by the people who built it early or by those who funded its development. It became a shared asset, held and governed by USUAL token holders through the DAO.
Before the token existed, the role of the Labs was simple: build the promised infrastructure and deliver a working protocol. Once the DAO formed, authority began to move. Not abruptly, but concretely, and in a way that could be observed.
In the same spirit, neither the founding team nor early investors retained majority control at launch. The majority of the supply was distributed to the community. This created real market effects, including farming-related sell pressure, but the operational objective was achieved. The protocol was bootstrapped, and ownership was broadly distributed.
After launchThe period following the TGE surfaced several realities. Farming introduced second-order effects. Transparency and execution speed did not always align cleanly. Crypto markets continued to favor simple narratives over revenue-based reasoning.
One principle remained unchanged. If a token carries economic rights, holders deserve clarity on how value flows to it. In line with that principle, Usual activated revenue sharing one month after the TGE, distributing protocol revenues.
As usage grew, the separation between governance and execution also became clearer. The DAO existed to govern and own the system. The Labs existed to build it.
2026: what follows, and the principles that shape itAs Usual moves into its next phase, the focus shifts from bootstrapping to consolidation. The work underway is not about adding surface complexity, but about making the system cleaner, more coherent, and easier to reason about as it scales.
Over the past months, changes have been built quietly across infrastructure, ownership, and governance. To advance this goal of decentralization, Usual will continue to clarify the distribution of responsibilities, strengthen decentralization, and establish USUAL as the single vector for value and governance.
Several proposals will be submitted in this regard to establish and ratify the following principles in the coming weeks.
The Labs exists to build on behalf of the DAO. Its mandate is defined by a validated roadmap, funded by the DAO, and bounded by clear expectations. What the DAO pays to build belongs to the DAO. Infrastructure and code developed with collective resources are assets of the system itself. In practice, part of what has already been built will be transferred into DAO ownership in early 2026.
Compensation follows the same discipline. The Labs is paid for work delivered, explicitly and proportionately. It does not sit upstream of protocol revenues by default. Any ongoing compensation reflects services rendered, not permanent claims on the system.
Governance also enters a more mature phase. Early structures were designed to protect the system while distribution was still forming. As issuance progresses and ownership consolidates, governance becomes simpler. Authority increasingly rests with USUAL alone. In that context, USUAL STAR moves toward its intended conclusion, with its associated rights sunsetting at maturity.
What follows is not a redesign, but a tightening. Fewer moving parts. Clearer ownership. More direct alignment between usage, governance, and value.
What USUAL representsUSUAL is not a wrapper layered on top of the protocol. It is the vehicle through which economic and governance rights are exercised across the Usual ecosystem.
As Usual enters a more mature phase, the objective remains unchanged: to build a financial system that, in practice, belongs to the people who use it and sustain it.
This includes the transfer of assets and intellectual property developed under the Labs into the DAO, clearer separation between what the DAO owns and what the Labs executes, and a structure where value created by the protocol is more directly legible to those who hold and govern it.
Quantum computing and DATs are overhyped risks for 2026, says Grayscale, while predicting new highs for Bitcoin.
Grayscale said it expects 2026 to accelerate long-term structural shifts in digital asset investing, driven by macroeconomic pressures and clearer regulation.
But it has outlined two high-profile topics it does not expect to meaningfully influence crypto market performance in 2026 – quantum computing risks and the rise of digital asset treasuries (DATs).
Quantum Risks and DATs Won’t Move Markets While concerns around quantum computing frequently resurface, Grayscale, in its latest report titled “2026 Digital Asset Outlook,” argued that the threat remains distant from a market-impact perspective.
Although sufficiently powerful quantum machines could theoretically compromise existing cryptography, expert estimates suggest such capabilities are unlikely before 2030. As a result, research into post-quantum cryptography and network preparedness may accelerate next year, but Grayscale does not expect these efforts to materially affect crypto valuations in the near term.
The firm takes a similarly measured view on DATs, despite their growing media attention. Corporate balance sheet strategies that hold crypto assets expanded rapidly in 2025, yet demand has since cooled, and many DATs are now trading close to net asset value. Importantly, most are lightly levered and unlikely to trigger forced selling during downturns.
The asset manager expects DATs to function more like closed-end funds, which will make them a lasting but largely neutral factor for crypto markets in 2026.
New ATH in 2026? On the price side, Grayscale has reiterated its bullish outlook on Bitcoin, predicting that it is likely to reach a new all-time high in the first half of the year, even as the market grapples with short-term weakness. According to the asset manager, the broader crypto asset class remains in a bull market, and 2026 is expected to mark the end of the traditional four-year cycle, which could bring rising valuations across all sectors.
You may also like: Bitcoin Price Crashes Below $60K as Strategy’s MSTR Plunges 10% Bitcoin’s Network Is Booming Even as Prices Remain Below Record Highs Bitcoin (BTC) Dips Below $62K, Ethereum (ETH) Plunges 6% Daily: Market Watch Grayscale’s optimism rests on two core pillars. First is the growing macro demand for alternative stores of value, as high and rising public debt increases long-term risks to fiat currencies. In this environment, scarce digital commodities like Bitcoin and Ethereum are increasingly viewed as portfolio hedges against potential currency debasement.
Second, improving regulatory clarity is unlocking institutional capital. Some of the important milestones, including Grayscale’s legal victory against the SEC, the launch of spot Bitcoin and Ether ETPs, and the passage of stablecoin legislation, have reduced uncertainty for investors.
Looking ahead, the firm expects further bipartisan crypto market structure laws, which could firmly embed blockchain-based finance into US capital markets and support higher Bitcoin prices.
What Is Driving Bitwise’s Call for a Break From Bitcoin’s Historical Pattern? Bitwise Chief Investment Officer Matt Hougan says bitcoin could set new all-time highs in 2026 despite the asset’s long-running four-year cycle suggesting the opposite. In a note to clients, Hougan pointed to weakening halving effects, expectations for lower interest rates and expanding institutional participation as reasons the cycle may not repeat.
Bitcoin is down more than 30% from its October peak near $126,000, and most altcoins have slid further. Under past patterns, a down year would be expected after three strong years. Hougan argues that the old model has lost relevance. He did not specify a price target but said structural factors are changing how bitcoin trades.
One shift, he wrote, is the reduced influence of halvings. Earlier cycles were heavily shaped by supply cuts, but their impact has faded as the market grew. Hougan also highlighted the contrast between 2026’s expected rate cuts and the tightening cycles of 2018 and 2022. He added that blowups driven by leverage have eased after mass liquidations in October and tighter oversight.
Investor Takeaway Bitwise argues that bitcoin’s usual playbook no longer applies. If halvings matter less and institutional demand grows, 2026 could diverge sharply from past cycles.
Why Does Bitwise Expect Lower Volatility and Falling Correlations? Hougan said bitcoin’s volatility has been declining and is likely to remain lower in 2026. He noted that bitcoin was less volatile than Nvidia stock through much of 2025, pushing back against the view that bitcoin remains unsuitable for traditional portfolios. He tied the trend to the rise of ETFs and broader investor participation, which he said has steadied flows.
Hougan also expects bitcoin’s correlation with equities to fall. While many investors still assume bitcoin moves in lockstep with stocks, he said rolling correlation readings rarely reach levels that carry statistical weight. As he sees it, regulatory progress and institutional inflows will provide crypto-specific drivers even if equity markets cool due to valuation concerns or slowing growth.
Together, he wrote, these trends could create “strong returns, less volatility, and lower correlations,” which he described as an appealing mix for portfolio construction. Bitwise expects these conditions to attract tens of billions of dollars in new institutional allocations.
Which Institutions Could Drive the Next Wave of Flows? Hougan said platforms including Morgan Stanley, Wells Fargo and Merrill Lynch are expected to begin allocating in 2026. The broader shift follows a friendlier U.S. regulatory stance under the Trump administration, which has encouraged both Wall Street firms and fintech platforms to add digital-asset access.
Bitwise has long argued that institutional adoption depends on rule clarity, custody improvements and simple investment vehicles. With ETFs widely available and pricing benchmarks more mature, Hougan expects large firms to add bitcoin positions through standard portfolio frameworks rather than experimental allocations.
Investor Takeaway If major advisory platforms begin allocating, flows may come from traditional portfolios, not crypto-native buyers — a dynamic Bitwise says could reshape demand in 2026.
How Did Bitwise’s 2025 Predictions Hold Up? Bitwise’s 2025 outlook proved mixed. The firm correctly anticipated rising regulatory momentum and broader institutional engagement. Coinbase did join the S&P 500, Strategy entered the Nasdaq-100 and the U.S. Department of Labor softened its 2022 stance on crypto in retirement plans. Stablecoin legislation also passed, matching Bitwise’s expectations for policy movement.
Price forecasts were far less accurate. While bitcoin, Ethereum and Solana all set new highs in 2025, none approached the firm’s targets of $200,000, $7,000 and $750. Bitwise also expected U.S. spot bitcoin ETF inflows to exceed 2024’s totals, which now looks unlikely.
Still, Bitwise’s broader thesis on structural improvement — deeper liquidity, better regulation and expanding institutional access — played out. Hougan’s 2026 outlook builds on that same groundwork while arguing that the next cycle may break from the past entirely.
About the Author: Abdelaziz Fathi
Abdelaziz Fathi covers the intersection of forex/CFD brokerage, regulation, liquidity, fintech, and digital assets. With a B.A. in Finance and hands-on industry exposure, Aziz blends analytical rigor with clear storytelling to make complex market structure understandable for traders, brokers, and fintech professionals.
Stablecoins are on track to become the backbone of tomorrow’s financial system, but the real battleground will not be “who issues the most dollars.” It will be who distributes them best, who integrates them everywhere, and above all who builds the services that make them useful. In a market that is unlikely to remain concentrated, stablecoins will compete less on the peg and more on the credit and yield rails attached to them.
USD0 was designed with that in mind. It is not just a settlement asset. It is meant to be a credit and capital vehicle for the Usual ecosystem. And like money in the real economy, USD0 only becomes infrastructure when it circulates. That circulation depends on access to credit. Without a native borrowing lane, stable assets remain passive. Users can hold them, but they cannot efficiently reuse them.
This is what Usual Zero Rate unlocks.
As part of Usual Labs’ rollout of Fira, UZR is now live as Usual’s first native credit primitive. Credit that previously required external partners is now internalized via Fira, protocol-owned, DAO-governed, and aligned with Usual’s long-term architecture. Users can borrow USD0 at a zero rate, enabling capital-efficient strategies without reflexive emissions incentives.
In practice, UZR also reframes bUSD0 as a zero-coupon bond, a simple maturity-based instrument that replaces earlier, more complex mechanics that created governance-token selling pressure. The result is a cleaner system with a tighter loop, where borrowing demand, liquidity, and fee capture remain inside Usual, supporting TVL concentration and value accrual to the ecosystem.
TL;DRUZR is Usual’s first native credit primitive: you can borrow USD0 at zero rate.
Credit that previously relied on external venues is now internalized via Fira: protocol-owned, DAO-governed, and aligned with Usual’s long-term architecture.
bUSD0 is repositioned as a zero-coupon bond (discount to par): simpler, more readable mechanics that reduce reflexive incentive dynamics.
Rollout is progressive: liquidity is added in tranches from Wednesday, January 14, 2026 through Sunday evening, January 18, then scales from Monday, January 19 based on migration demand.
Euler to Fira migration is available immediately but is one-way only. Fira’s Borrow and Repay UI goes live on Thursday, January 22, 2026.
In DeFi, the rate often becomes a product in itself. Users stop borrowing to deploy capital and start borrowing to play rates, optimize loops, and farm subsidies. The outcome is predictable: opaque execution, incentives captured by farmers, and structural sell pressure on the governance token.
A zero rate is a deliberate choice to break that dynamic. It removes rate speculation from the core product, cleans up the carry trade logic, and ends a governance-token distribution that was primarily captured by farming strategies. Instead, borrowing goes back to what it should be: simple access to credit to put capital to work, with full visibility.
Users can now borrow and lever with a clear understanding of the strategy’s cost and the net return expected at maturity. The only market variable to monitor is the bUSD0 discount on the secondary market if you choose to exit before maturity. Simpler. Clearer.
With UZR:
Borrowing costs are predictable
Protocol fees are capped and transparent
Economic value accrues to the Usual DAO
There is no emissions-driven incentive loop. There is no rate volatility embedded in the core credit path. The system favors clarity over optimization theater.
This design aligns borrowing with use. It simplifies governance and risk evaluation. Credit exists because it is needed, not because it is subsidized.
Internalizing the credit laneA base layer for future creditBefore UZR, borrowing demand was satisfied via external platforms. While effective, that structure pushed fees and control outside the protocol.
UZR internalizes this function. Credit activity now happens within Usual’s economic perimeter via Fira. This has three implications.
First, protocol revenue remains internal.
Second, parameter control belongs to governance.
Third, future credit extensions can be built without relying on third-party incentives.
This is not a rejection of composability. It is a prerequisite.
UZR is a starting point, not an endpoint.
By establishing a native, zero-rate credit primitive, Usual lays the foundation for more expressive credit markets: fixed-rate instruments, maturity-based borrowing, and structured credit products. All of this becomes possible without re-architecting the base system.
Because the credit lane is protocol-owned, extensions can be added progressively and governed coherently.
A key shift: bUSD0 as a zero-coupon bondUZR simplifies the system by reframing bUSD0 as a maturity instrument: a zero-coupon bond that moves from discount to par.
Concretely, this delivers:
A cleaner structure
A tighter link between borrowing demand, liquidity, and value capture
Less reliance on mechanisms that historically created indirect market pressure via misaligned incentives
Credit becomes a tighter loop: usage stays inside, and beneficial effects accumulate inside.
UZR Launch: what you need to knowProgressive liquidity deployment in tranchesUZR is rolling out progressively. Liquidity will be added in tranches, not all at once.
The goal is to ensure a stable rollout and reduce risk during the first days of operation.
Wednesday, January 14, 2026: UZR opens with an initial liquidity tranche
Through Sunday evening, January 18: additional tranches are added regularly and announced through our usual communication channels
Starting Monday, January 19: liquidity scales based on migration demand
Each new tranche will be communicated publicly. Some tranches may fill quickly, and additional tranches will be added as needed.
Euler to Fira migrationMigration is available immediately, but it is one-way only.
Migration path: Euler to Fira only
Fira’s Borrow and Repay frontend features go live on Thursday, January 22, 2026
Between now and January 22: users can migrate, but cannot yet borrow or repay via the Fira UI. Direct contract interaction is required during this window
USUAL rewards and the transition windowIf liquidity is temporarily limited, users will not be penalized.
USUAL rewards on USL remain active until Monday, January 19, 2026
The final distribution follows the usual schedule
On Euler, the interest rate remains unchanged at 1.5%
In practice, even if migration is gradual, users continue earning rewards on USL until the final distribution.
Who is UZR for?UZR is built for anyone who wants to use USD0 as working capital, not just as a passive holding.
Deploy capital without embedding rate speculation into the core credit path
Run maturity-based strategies with a simple, transparent cost model
Access credit that is native to the Usual ecosystem, with coherent governance
As always in DeFi, outcomes depend on your position, collateral, and market conditions, especially if you exit before maturity via secondary markets.
Transparency and risksUZR simplifies the credit lane, but it does not remove risks inherent to DeFi:
Smart contract risk
Liquidation risk depending on your collateral and position design
Liquidity and price risk on secondary markets (bUSD0 discount)
Operational risk during a progressive rollout period
Usual’s goal is to build finance-grade rails that are readable, governable, and extensible, with a controlled ramp-up.
ConclusionUsual Zero Rate marks a structural milestone: shifting USD0 from a settlement asset to a capital asset, supported by a native, zero-rate credit primitive.
Zero rate. Maturity-based clarity. Coherent governance. Value captured inside the ecosystem.
This is a foundation, and the base layer on which Usual can build increasingly expressive credit markets without losing what matters most: clarity and alignment.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
4 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
4 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
4 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
4 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
4 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
The USUALx unlock window is live. This step completes a provision included in UIP-11, giving holders a defined opportunity to reassess their positions following changes to the USUALx reward and inflation model, which directly affect protocol revenues.
UIP-11 reduced inflation by half and reduced daily selling pressure on USUAL by 85% related to farming activities. As part of that proposal, an unlock window was explicitly included so users could make an informed choice under the updated framework. That window is now open.
Why the Unlock Was Included in UIP-11UIP-11 introduced structural changes to how protocol revenue is generated and distributed. Because those changes affect the economics of USUALx, it was important that existing lockers retained the ability to reassess positions they entered under prior assumptions.
The unlock window is the execution of that commitment. It allows users to either remain locked under the updated framework or submit a request to unlock their positions before the transition fully completes.
Unlock Window TimelineThe unlock window runs from January 27 at 00:00 GMT to February 3 at 00:00 GMT.
During this period, users may submit requests to unlock their USUALx positions. Submissions must be made before the window closes. After February 3 at 00:00 GMT, no new unlock requests will be accepted.
Submitting an unlock request does not immediately unlock the position. All requests are collected during the window and executed once the window has concluded.
How the Unlock Process WorksUnlocking requires an explicit, manual action. Users can select one position or many positions, including cases where USUALx was locked incrementally over time. While each position must be selected individually, all selected positions are bundled into a single unlock request when submitted. This avoids the need for multiple transactions, even for users with many individual locks.
Submitting an unlock request is irreversible.
Once the window closes, all submitted requests are processed together. Positions with a submitted request will be unlocked on February 3. Positions without a request remain locked and continue until their original maturity.
Rewards and Yield During the TransitionUSD0 rewards continue to accrue normally throughout the unlock window. Rewards accrue in full through February 1 (end of day). Submitting an unlock request at any point during the window does not affect rewards during this period. From February 2 onward, USD0 rewards stop accruing for positions that will be unlocked, ahead of the unlock execution on February 3.
Any USD0 rewards accumulated up to that point remain fully claimable through the dApp.
Following the unlock window, USD0 rewards allocated to USUALx will follow the UIP-11 framework. This corresponds to 33% of realized DAO revenue for each distribution period.
While the basis for distribution is therefore defined, the resulting APR cannot be determined in advance. It depends on the total amount of USUALx that remains locked after the unlock window concludes, which cannot be known ahead of time.
Unlocking, Wallets, and Re-lockingUnlocking USUALx gives users full control over their tokens. Unlocked USUALx can be transferred to another wallet, including a newly created or more secure one, and then re-locked if desired.
If a user chooses to re-lock, the standard locking rules apply. If they choose to unstake instead, the existing unstaking fee remains unchanged at 10%. The unlock window itself does not introduce new penalties or special conditions.
dApp Visibility and User ExperienceDuring the unlock window, the dApp will surface multiple clear indicators highlighting that the window is open and when it closes. Individual lock expiry dates remain visible in the Locked tab, consistent with the current interface. No changes to position expiry presentation are planned for the current dApp version.
After the Window ClosesWhen the unlock window closes on February 3 at 00:00 GMT, the process is complete.
Positions with a submitted unlock request will be unlocked. All other positions continue unchanged until maturity. From that point forward, the USUALx reward model operates fully under UIP-11.
This marks the final execution step related to USUALx in the proposal.
Looking AheadThe unlock window reflects a broader principle embedded in UIP-11: transitions should be explicit, time-bounded, and user-directed.
As the protocol evolves, requests such as simplifying long-term lock management and compounding behavior are noted. Some of these would require deeper contract changes and are not part of the current release, but they remain part of ongoing discussions around future iterations.
For now, the unlock window is live, and users can choose how they want to proceed under the updated framework.
Usual's introduction of a direct EUR ↔ EUR0 rail leverages SEPA Instant and virtual IBAN technology to streamline fiat transactions, enhancing euro transfers for users across Europe.
Decentralized stablecoin protocol Usual has rolled out direct EUR0-to-EUR conversions, marking a significant milestone in simplifying fiat on- and off-ramps for European users. The service utilizes SEPA and SEPA Instant transfers, providing seamless euro transactions across the continent.
The EUR0 token represents a digital euro balance backed by European sovereign bonds, integrated into Usual's platform to facilitate efficient euro transfers. This integration aims to enhance the ease of transactions by eliminating the need for exchange accounts, intermediate tokens, or third-party trading platforms, according to a blog post.
SEPA Instant, a key component of this service, allows real-time euro transactions across 36 countries, including the UK and Switzerland. This rapid settlement feature is complemented by virtual IBANs, which provide unique digital account numbers linked to a primary bank account, facilitating international payments without requiring multiple accounts.
Usual’s platform offers an efficient on-ramp for users, who can deposit euros to a virtual IBAN, automatically updating their EUR0 balance. Off-ramping is equally streamlined, allowing users to convert EUR0 back to euros and receive them via SEPA transfer. Identity verification is conducted within the Usual app.
Usual has around $114 million in total value locked (TVL), according to DeFiLlama.
This article was generated with the assistance of AI workflows.
XRP appears to be defying established market behaviors, as its price spikes alongside exchange inflows.
XRP is showing a pattern that goes against how most crypto assets behave, especially when looking at exchange flows. Notably, instead of rising when tokens leave exchanges, the XRP price seems to increase when more tokens move into exchanges.
Key Points XRP’s price seems to increase during exchange inflows and decrease when tokens flow out of exchanges. Data shows the XRP price rose from $0.551 to $0.688 between January and March 2024, while exchange reserves increased from 2.65 billion to over 3 billion tokens. In the ongoing downturn starting in October 2025, XRP has fallen from $2.8 to about $1.4, while reserves have dropped from 3 billion to 2.79 billion XRP. Rising inflows alongside rising prices suggest the market is seeing strong activity, where demand absorbs supply despite more tokens entering exchanges. When demand weakens after high inflows, earlier deposits begin to add selling pressure, leading to price slowdowns or reversals. XRP Price Following Exchange Flows XRP community analyst Xaif called attention to this data while citing a report from CryptoQuant. Notably, in most cases, when investors move assets off exchanges, it suggests they plan to hold for a longer time. This reduces selling pressure and often supports price growth.
However, XRP does not seem to follow this pattern. Instead, its price often rises as more tokens flow into exchanges and falls when those tokens leave. This unusual behavior suggests that the usual supply and demand signals may not accurately track XRP’s price action.
The market pundit also pointed out that before XRP sees a massive price explosion, both inflows and outflows often surge in tandem with each other. “On paper, people are NET SELLING into the pump. So who’s buying?” He asked, suggesting that something else is behind these moves.
According to Xaif, many traders misunderstand XRP by applying the same approach they use for assets like Bitcoin (BTC). According to him, XRP does not behave the same way, and traders who rely on standard on-chain indicators could get the wrong read on the market.
Historical Data Supports the Pattern Historical data helps confirm this trend. Figures from Binance show that between Jan. 18, 2024, and March 10, 2024, XRP reserves on the exchange increased from 2.65 billion tokens to over 3 billion tokens. During the same period, the price rose from $0.551 to $0.688, moving in the same direction as the rising reserves.
XRP Binance Exchange Flows | CryptoQuant A similar pattern appeared during the rally between November 2024 and January 2025. Specifically, XRP’s price jumped from $0.5 to $3.4, while Binance’s reserves increased from 3 billion tokens to 3.2 billion tokens. While the rise in reserves was smaller compared to the price jump, both still moved upward together.
The trend has continued amid the decline that started in October 2025. Notably, XRP’s price has dropped from $2.8 to about $1.4, while Binance reserves have also fallen from 3 billion XRP to 2.79 billion XRP.
What Could Be Driving This Behavior This pattern suggests that XRP’s investors start locking profits whenever XRP spikes. Specifically, during price rallies, traders and large holders often move tokens onto exchanges to take profits as the prices rise. However, these inflows do not immediately push prices down because strong demand absorbs the supply.
As a result, both buying and selling can stay high at the same time. Essentially, prices continue to rise while more tokens enter exchanges because buyers are still active enough to match the selling. In this phase, the inflows show strong market activity, not immediate weakness.
However, once the initial demand begins to slow, the situation changes. The tokens that traders moved into exchanges earlier start to have a stronger effect. The selling pressure builds, and prices begin to stall or fall. This is when earlier inflows start to weigh on the market.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Visits to emergency rooms for tick bites are higher than normal in many parts of the country right now, according to CDC's Tick Bite Tracker. In all regions except the South Central United States, weekly rates of ER visits for tick bites are the highest for this time of year since 2017.
In advance of Lyme Disease Awareness Month in May, CDC is urging the public to take steps to protect themselves and their families from tick bites, and the serious diseases they can cause, including Lyme disease, Rocky Mountain spotted fever, and alpha-gal syndrome.
Preventing tick bites is considered the best form of protection throughout tick season. If individuals do find an attached tick, they should remove it as soon as possible, and not wait to get to the ER. Removing attached ticks within 24 hours can help prevent Lyme disease.
Quote attributable to: Alison Hinckley, PhD, epidemiologist and Lyme disease expert with CDC's Division of Vector-Borne Diseases
"Tick season is here and these tiny biters can make you seriously sick. The good news is you have options to help prevent tick bites when you spend time outdoors: You can wear EPA-registered insect repellent and permethrin-treated clothing, do tick checks, and remove attached ticks as quickly as possible. These simple steps can go a long way in protecting you and your family from diseases spread by ticks. And if you develop a rash or fever in the days to weeks after a bite, or after being in an area with ticks, seek medical care promptly."
Additional data and resources:
Every year, an estimated 31 million people in the United States are bitten by a tick. Lyme disease is the most common tickborne disease in the United States, with an estimated 476,000 patients treated for Lyme each year. CDC has tips and resources for coping with the tick season:
Preventing Lyme Disease | CDC Preventing tick bites CDC Insect Repellent Guide (using and choosing repellent) CDC Tick Bite Guide (what to do after a tick bite, and what symptoms to look out for) How to safely remove ticks (tips on tick removal and photos) About Ticks and Tickborne Disease Where Ticks Live Video: When a Tick Bite Causes a Red Meat Allergy (a person's experience with alpha-gal syndrome) Preventing Ticks on Pets | Ticks | CDC CDC Tick Bite Tracker
At first glance it is a new app. The heart of it is your account: one place that holds your dollars and euros, your savings, and your investments, designed to gain new powers over time. That part is real, and it matters. But the redesign is the smallest piece of what changed. V2 is the base that everything else gets built on. From here, Usual stacks a full set of financial services on top of its stablecoin, and a stablecoin issuer starts becoming something much larger: a FinTech that belongs to the people who use it.
This was always the plan. Usual never set out to be only a stablecoin. From day one, the goal has been a DeFi bank owned by its users. The stablecoin came first because it is the hardest part to get right: real money, backed one-to-one by Treasury Bills, that anyone can hold and verify. Every service that follows inherits that same foundation. You get the money right first, then build the bank around it.
And ownership here is not a figure of speech. The protocol returns 100% of its revenue to USUAL holders, and the DAO owns all of its assets. There is no separate company sitting above the system and keeping the upside. The people who use the bank are the people who own it: they vote on where it goes, they share in what it earns, and their money stays theirs the entire time. You do not have to take this on faith. The app shows it in real time: the assets backing the system, the treasury that belongs to token holders, and the valuation behind it.
V2 is the floor. Here is what we build on top of it:
Currencies: Usual issues dollars and euros side by side through USD0 and EUR0: on-chain currencies backed by short-term government bonds and redeemable at any time.
No CEX required. You can now top up in a few clicks from your bank account, use your funds on-chain, and send euros, and soon dollars, back to any bank account whenever you need, with no fees.
But this is only the beginning. Usual’s ambition is to go beyond the euro and the dollar by enabling on-ramps and off-ramps for other tokenized local currencies (CNY, JPY, GBP, CAD, CHF). The goal is simple: give anyone access to the currency of their choice, so they can save, transact, and invest on-chain without being exposed to unnecessary volatility.
Forex: Liquidity between crypto stablecoins remains a major bottleneck for anyone looking to move across currencies on-chain.
With clearFX, Usual lets you switch from dollars to euros, and back, in one tap, smoothly and at the tightest spread possible. The rate is anchored in the real value of the underlying bonds, rather than the depth of a trading pool.
Access the currency you need from the same balance, with no separate exchange step.
Savings & Spendings : Making your money productive before investing it elsewhere is one of the missing pieces of traditional finance. Access to the risk-free rate remains too complex, when it should simply be the baseline.
With Usual, you can move idle cash into savings products that earn from the protocol’s real revenue, with no lockup and nothing to manage. Earn beyond the risk-free rate while keeping your money available at all times.
Whenever you need it, access your funds instantly and spend them directly through your future Usual Card.
Discover all opportunities: Investing with Usual can be directional or non-directional. You choose whether you want stable yield, exposure to Usual’s upside, or access to broader on-chain markets.
Start with your dollars. Lock them into bUSD0 or allocate your balance into curated strategies built on the same real-world assets. You decide how much capital to grow and how much to keep liquid.
For directional exposure, buy and lock USUAL when it trades below the transparent value of the protocol’s treasury. You get exposure to a token backed by real revenue, with a claim on part of the treasury and a clear view of the assets behind it.
Soon, Usual will also bring tokenized stocks into the ecosystem, letting you access traditional market exposure directly from the same account, alongside your currencies, savings, and on-chain strategies.
Credit: With Usual Credit, you can borrow against the Usual assets you already hold at a fixed rate agreed upfront.
Instead of selling your assets to free up cash, you keep your exposure, your upside, and your long-term position intact. Use your capital when you need liquidity, while your assets remain in the ecosystem. Borrow with clarity: no variable-rate uncertainty, no forced trade-off between staying invested and accessing cash.
AI and agents: Usual will let you manage your money through an AI assistant that operates within the limits you define. You can keep full control, with the assistant asking for confirmation before every move, or allow it to act autonomously within a budget, a risk profile, and a set of strategies you approve in advance. Through a Model Context Protocol connection, the AI agents you trust will be able to hold, move, save, swap, and invest your money directly inside Usual. Your capital keeps earning while agents execute tasks for you — instead of sitting idle between actions.
From topping up your balance to switching currencies, allocating into savings, rebalancing strategies, or preparing payments, Usual turns AI agents into financial operators with clear permissions, real assets, and productive capital.
Usual Staking Simplification: With DAO approval, the current staking mechanism will be simplified to make participation easier and more accessible for everyone. The goal is to reduce friction around staking, remove unnecessary complexity, and give users a clearer path to manage their positions. This simplification will also make it easier to exit when needed, improving flexibility while preserving the long-term alignment between USUAL holders, stakers, and the protocol.
Explore: Usual V2 introduces a new transparency dashboard built to show the real value behind the protocol.
Track the protocol’s treasury, real-time revenues, and the assets backing the ecosystem in one place. For the first time, users can clearly monitor the value supporting the governance token, beyond market price alone.
The dashboard gives anyone a direct view into Usual’s fundamentals: what the protocol owns, what it earns, and how that value evolves over time.
Additional metrics will be added soon, making Explore the reference layer to understand Usual’s financial health, treasury depth, and long-term value creation.
Help Center: Usual V2 will integrate a dedicated Help Center directly inside the dApp, giving anyone a simple way to ask questions, find answers, and get support without leaving the product.
For users, it means faster access to clear, organized information. For the Labs team, it creates a more structured support flow, making it easier to track requests, answer recurring questions, and improve the quality of assistance over time.
As a result, support will progressively move toward this centralized Help Center. Other communication channels will be streamlined and may be set to read-only soon, so the community can rely on a single, clearer place for product support and protocol information.
One account, One App every service, owned by the people who use it. V2 is the foundation. Everything else gets built on top of it.
