Monad’s API Hub hosts 66 active services from independent providers, all accessible through pay-per-request micropayments. Prices range from $0.01 to $7.50 per endpoint call, with analytics heavyweight Nansen contributing 83 different endpoints alone.
At the core of the system sits the x402 v2 protocol, an open standard for internet-native payments that turns every API call into a tiny financial transaction. When a developer or an autonomous AI agent makes a request, the x402 facilitator on Monad handles verification and on-chain settlement automatically. The protocol operates on Monad’s mainnet (chain ID eip155:143) and its testnet.
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Payments settle exclusively in USDC, Circle’s dollar-pegged stablecoin. Monad’s mainnet launched on November 24, 2025, with native USDC support and developer tools from Circle baked in from day one. The blockchain targets sub-second finality and up to 10,000 transactions per second.
Autonomous AI agents need programmatic access to information but traditional API marketplaces require account creation, email verification, credit card entry, and key management. Pay-per-request with USDC strips all of that friction away. At $0.01 per call on the low end, an agent could make 100 requests for a dollar, pulling on-chain analytics from Nansen or other providers without any pre-existing relationship.
The Monad Foundation joined the x402 Foundation on June 29, 2026, placing it alongside Coinbase, Circle, and Cloudflare as contributors to the open payment standard. The x402 Foundation’s goal is standardization: if multiple blockchains and service providers adopt the same protocol for pay-per-request transactions, developers write integration code once and it works everywhere.
The competitive landscape for blockchain data APIs includes established players like Dune Analytics, The Graph, and various RPC providers, most of which still rely on traditional subscription models. Sixty-six services is a decent starting catalog, and Nansen’s 83 endpoints provide genuine analytical depth. The pricing transparency, with costs visible per endpoint rather than buried in enterprise tier structures, is a distinguishing feature for developers managing usage costs.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The US stock market's optical communication sector rose sharply, with LITE surging more than 11%.
According to BIT (Bit.com) market data, the US optical communication sector has surged sharply, with performances as follows: Applied Optoelectronics (AAOI) up 9.61%; Lumentum (LITE) up 11.27%; Nokia (NOK) up 6.1%; Corning (GLW) up 8.47%; Roundhill Optical Module ETF (LYTE) up 9.08%; Coherent (COHR) up 11.25%; and Marvell Technology (MRVL) up 3.01%.
4 minutes ago
Bonk Guy: PONS buyback is severely undervalued by the market, will continue adding positions during pullbacks.
Renowned trader Bonk Guy posted that PONS has seen sustained revenue growth recently, with daily income staying above $1.3 million to $2 million for most of the past week, and not dropping below $1.1 million for seven consecutive days. Meanwhile, PONS’ buyback wallet has accumulated nearly $3 million so far; these funds will be used to repurchase PONS via Time-Weighted Average Price (TWAP), and the wallet’s fee replenishment rate is currently outpacing its fund consumption rate. 100% of PONS’ generated fees are allocated to repurchases and token burns. PONS’ actual market cap is likely significantly lower than its Fully Diluted Valuation (FDV). At the time of posting, its price stood at around $0.736, translating to an FDV of roughly $736 million. However, since PONS’ launch, approximately 30% of its token supply has been repurchased and burned via fees, bringing its actual market cap closer to $515 million. Additionally, PONS hit an all-time high of ~80% market share on Robinhood Chain yesterday, holding between 75% and 80% for most of the past week. The platform also set a new all-time high for daily token issuance, peaking at 28,560 tokens in a single day, with around 27,600 new tokens launched over the past 24 hours. PONS is benefiting from the growth of the Robinhood Chain ecosystem and has established itself as the chain’s leading Launchpad. Bonk Guy noted that PONS currently boasts daily revenue of $1 million to over $2 million, nearly $3 million in buyback funds, ~30% of its supply burned, no VC unlock pressure, and strong early community support. Comparing PONS to PUMP, he argued its current actual market cap remains attractive. Traditional finance quant trading networks are also starting to take notice of PONS, calling it a potential “most tradable asset of this cycle”. He expects sustained buying during market pullbacks and is bullish on its market cap eventually reaching the multi-billion-dollar level.
4 minutes ago
Iran claims to have seized "the world's most advanced intelligent unmanned submarine", with US authorities yet to confirm.
According to Iran's Tasnim News Agency, the Navy of Iran's Islamic Revolutionary Guard Corps (IRGC) claimed it captured a U.S. unmanned underwater vehicle (UUV) at the entrance to the Strait of Hormuz early local time today and brought it back to Iran. The IRGC Navy stated that the vessel is "one of the most advanced intelligent unmanned submarines in the world", was delivered to the U.S. Navy in 2025, and seized at "a complex facility". The IRGC will release photos of the UUV within hours. The claim has not yet been confirmed by U.S. officials.
4 minutes ago
Crypto figure Shen Yu recounts his past ZEC experience: On the first night of Zcash’s mainnet launch, his mining farm was struck by lightning, and he has not held ZEC personally since.
Cobo co-founder and CEO Shen Yu posted on social media, stating: "I really have a lingering negative impression of ZEC. Back in 2016, when Zcash’s mainnet launched, BitMEX set a hard price cap of 10 BTC. Shortly after mining kicked off on launch night, the transformer at a GPU mining farm was struck by lightning. Since then, ZEC has never appeared in my personal wallet."
4 minutes ago
Polymarket launches its in-app social feature Squads.
Prediction market platform Polymarket today announced the launch of Squads, a new social feature for its US version of the Polymarket app. Squads provides an exclusive communication space for friends, where users can discuss markets, share their prediction selections, and trade directly with friends on Polymarket. The feature brings market discussions that originally took place in group chats onto the Polymarket platform, centralizing conversations and actual trading in one place to make it easier for friends to jointly participate in and experience prediction markets.
4 minutes ago
Venice (VVV) market capitalization breaks through $2.7 billion, hitting an all-time high.
According to GMGN market data, Venice (VVV) has hit an all-time high market capitalization of over $2.7 billion, with a 24.69% 1-hour price increase, and is currently trading at $23.89. Per a July 1 report, Venice AI completed a $65 million Series A funding round led by Dragonfly Capital.
Circle has agreed to acquire Tazapay, a Singapore-headquartered B2B cross-border payments company, as the USDC issuer seeks to expand its global payments infrastructure and increase stablecoin adoption.
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The transaction, which is expected to close in 2027 pending regulatory approvals including from Singapore’s Monetary Authority, will bring Tazapay’s banking relationships, local payout infrastructure and institutional customer base into Circle. Tazapay supports payments across more than 100 markets, works with over 60 banking and fintech partners and has more than $25 billion in annualized payment volume, with stablecoins accounting for about 60% of transactions.
Circle said the acquisition will strengthen its ability to move money globally around the clock and help make USDC a default payment rail for cross-border commerce. Tazapay customers will continue to receive their existing services, APIs, pricing and support without disruption.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
[Update 13:30 UTC, Sept. 8: Adds the $400 million purchase price and stock payment terms disclosed in Circle’s SEC filing.]
Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027.
Circle will pay in Class A common stock, with the purchase price subject to adjustments for Tazapay’s debt, transaction expenses and cash, according to a filing with the US Securities and Exchange Commission.
The transaction will also require customary closing conditions and approval from the Monetary Authority of Singapore, Circle said in a Tuesday announcement.
Tazapay has more than $25 billion in annualized payment volume and serves more than 60 banking and fintech partners with local payout rails covering more than 100 markets. The company said in August 2025 that annualized payment volume was more than $10 billion.
Circle previously invested in Tazapay through Circle Ventures, including in the startup’s August 2025 Series B round. Tazapay has raised $57.9 million across five funding rounds, according to Tracxn data.
Stablecoins account for about 60% of Tazapay’s transaction volume, according to Circle. The company said the acquisition will expand its ability to route payments to and from Asia-Pacific and emerging markets.
“This acquisition will increase Circle’s capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce,” said Irfan Ganchi, senior vice president of payments at Circle.
Tazapay has been a design partner for the Circle Payments Network since 2025. Circle said Tazapay customers should see no disruption to their services, APIs, pricing or support.
Circle’s (CRCL) NYSE-traded shares were down more than 2% in Tuesday’s premarket activity, at last look, according to Yahoo Finance.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
[Update 13:30 UTC, Sept. 8: Adds the $400 million purchase price and stock payment terms disclosed in Circle’s SEC filing.]
Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027.
Circle will pay in Class A common stock, with the purchase price subject to adjustments for Tazapay’s debt, transaction expenses and cash, according to a filing with the US Securities and Exchange Commission.
The transaction will also require customary closing conditions and approval from the Monetary Authority of Singapore, Circle said in a Tuesday announcement.
Tazapay has more than $25 billion in annualized payment volume and serves more than 60 banking and fintech partners with local payout rails covering more than 100 markets. The company said in August 2025 that annualized payment volume was more than $10 billion.
Circle previously invested in Tazapay through Circle Ventures, including in the startup’s August 2025 Series B round. Tazapay has raised $57.9 million across five funding rounds, according to Tracxn data.
Stablecoins account for about 60% of Tazapay’s transaction volume, according to Circle. The company said the acquisition will expand its ability to route payments to and from Asia-Pacific and emerging markets.
“This acquisition will increase Circle’s capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce,” said Irfan Ganchi, senior vice president of payments at Circle.
Tazapay has been a design partner for the Circle Payments Network since 2025. Circle said Tazapay customers should see no disruption to their services, APIs, pricing or support.
Circle’s (CRCL) NYSE-traded shares were down more than 2% in Tuesday’s premarket activity, at last look, according to Yahoo Finance.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.
Stablecoin satışları, normal kripto piyasa dalgalanmalarında sınırlı kalabilir. Ancak Çin Renmin Üniversitesi tarafından yürütülen yeni bir araştırmaya göre belirli bir şok seviyesinin aşılması, satış baskısını hızla büyüterek çok daha sert bir düşüşe yol açabilir. Araştırmacılar, negatif haberlerin stablecoin fiyatları üzerindeki etkisini incelemek için büyük dil modeli ajanlarından yararlandı.
Çalışmanın sonuçları, satışların başlangıçta kontrol edilebilir seviyede kalabildiğini, ancak kritik bir eşiğin ardından hız kazanabildiğini gösteriyor. Bu durum, özellikle likiditenin zayıfladığı dönemlerde yatırımcılar açısından önemli bir risk oluşturuyor.
Kripto Çöküşünün Sebebi Ne Olabilir? Stablecoin fiyatında küçük sapmalar meydana geldiğinde arbitraj yapan yatırımcılar devreye girebilir. Fiyatı 1 doların altına inen bir stablecoin’i satın alan yatırımcılar, oluşan fiyat farkından yararlanırken tokenın yeniden 1 dolara yaklaşmasına da katkı sağlayabilir.
Ancak büyük çaplı bir şok bu mekanizmayı bozabilir. Piyasadaki kullanılabilir likidite azaldığında satış emirleri yoğunlaşır ve yatırımcıların pozisyonlarını kapatma isteği artar. Böylece arbitraj işlemleri, fiyatı dengelemekte eskisi kadar etkili olmayabilir.
Kripto Korku Ve Likidite Riski Nasıl Birbirini Besliyor? Araştırma, korku, düşük likidite ve yoğun bireysel yatırımcı satışlarının birbirini güçlendirebildiğine işaret ediyor. Emirlerin ağırlıklı olarak tek bir tarafta birikmesi, arbitraj yatırımcılarının piyasaya girme konusunda daha temkinli davranmasına neden olabiliyor.
Daha dikkat çekici sonuçlardan biri ise şokun kaynağının, en sert senaryolarda ikinci planda kalması. Deneylerde olayın nedeninden ziyade yaşanan şokun büyüklüğü, stablecoin üzerindeki baskının seviyesini belirleyen daha önemli unsur olarak öne çıktı.
Mart 2023’teki USDC krizi bu riske gerçek dünyadan güçlü bir örnek sundu. Rezervlere ilişkin endişelerin ortaya çıkmasının ardından yatırımcılar USDC satmaya başladı. Hafta sonunun etkisiyle itfa işlemlerine erişimin sınırlanması da baskıyı artırdı ve USDC 1 doların altına geriledi. Daha sonra stablecoin yeniden dolar sabitini korumayı başardı.
Stablecoin Rezervleri Tek Başına Yeterli Mi? Bir stablecoin’in arkasında yeterli varlık bulunması, fiyat istikrarını her koşulda garanti etmeyebilir. Özellikle yatırımcıların aynı anda çıkışa yöneldiği dönemlerde rezervlerin açık biçimde raporlanması ve güvenilir itfa mekanizmalarının bulunması kritik önem taşıyor.
Bu konu, stablecoin kullanımının ödeme alanına doğru genişlemesiyle birlikte kripto para piyasası açısından daha önemli hale geliyor. Bain’in tahminlerine göre bankaların ödeme gelirlerindeki payı bugün yüzde 80 seviyesindeyken, 2030’da yüzde 69’a gerileyebilir.
Stablecoin cüzdanları, geleneksel banka hesaplarına kıyasla daha hızlı sınır ötesi transfer imkanı sunabiliyor. Bu özellik, stablecoin’leri yalnızca bir dijital varlık aracı olmaktan çıkararak bankacılık sektörünün ödeme hizmetleriyle rekabet eden bir alternatif haline getiriyor.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a scheduled delisting of three low-activity spot trading pairs: OPEN/FDUSD, SAGA/FDUSD, and VELODROME/USDC. The removal will take effect on September 11, 2026, at 03:00 UTC, as part of Binance’s ongoing efforts to refine its spot market offerings and optimize liquidity across the platform.
Routine trading pair removalThe exchange periodically reviews the trading activity and liquidity of all available pairs to ensure a high-quality trading environment. Binance stated that pairs attracting minimal trader interest are removed to prevent order book congestion and to direct more liquidity toward active markets.
Such assessments are part of Binance’s standard market hygiene, aiming to ensure that resources are focused on pairs that consistently demonstrate demand and depth. The trend of regularly retiring underperforming trading pairs has become customary for the platform.
Despite the removal of these specific pairs, Binance clarified that the underlying coins—Open Platform (OPEN), Saga (SAGA), and Velodrome Finance (VELODROME)—will remain tradable in other pairs on the exchange.
Binance emphasized that the delisting affects only select trading pairs and that users can continue to access these digital assets through alternative pairs such as USDT or BTC.
Impact on traders and liquidityTraders are not expected to experience disruptions in owning or moving their assets, as the action does not represent a full project delisting. Alternative trading pairs will continue to allow buying and selling of these coins, with more active pairs typically offering tighter spreads and greater liquidity.
Binance recommended that users monitor their automated trading tools, especially Spot Trading Bots and Grid Trading Bots, as active bots linked to these pairs will automatically be terminated once trading ceases. Traders using grid bots should check open orders before the deadline to avoid unexpected executions or potential slippage.
“There is no need to panic or start selling. This concerns only the removal of specific pairs with the FDUSD and USDC stablecoins, not the complete delisting of the projects themselves. The coins will remain available on the platform.”
Market data reveals limited activityRecent trading data highlights why these pairs were selected for delisting. Trading volumes for FDUSD pairs with mid-cap altcoins such as OPEN, SAGA, and VELODROME now account for just 0.06% to 0.14% of FDUSD’s overall volume. Daily turnover for these pairs rarely exceeds $100,000 to $300,000, as reported by CoinMarketCap, indicating minimal user activity.
PairDaily Volume% of FDUSD VolumeOPEN/FDUSD$100,000–$300,0000.06%–0.14%SAGA/FDUSD$100,000–$300,0000.06%–0.14%VELODROME/USDC$100,000–$300,0000.06%–0.14%The declining liquidity in these spot markets has led Binance to streamline its offerings and focus the platform’s resources on markets that maintain active trader participation and stronger order books.
In addition, Binance began directing liquidity towards the United Stables (U) ecosystem. This move aims to further consolidate trading activity and allow more efficient price discovery on the BNB Chain.
Mini dictionary: United Stables (U) ecosystem, a stablecoin-focused platform operating on the BNB Chain that groups multiple stablecoin pairs for improved liquidity and unified trading infrastructure.
CCTP now supports upfront fee payment for Fast Transfers. Instead of deducting protocol fees from transferred USDC on the destination chain, developers can now quote and collect fees upfront in either the source chain’s native gas token or USDC. As a result, developers can simplify fee handling for crosschain transfers and users receive the intended USDC amount.
Predictable transfers and streamlined fee handlingBy handling fee collection before transfer execution, this update to CCTP Fast Transfers addresses three core challenges for crosschain applications:
Predictable Transfer Amounts: End users receive the expected amount of USDC sent, eliminating destination-side fee deductions and unexpected net outputs in payment or wallet workflows.One Bundled Quote via Quote API: The Quote API abstracts fee calculations across supported chains, bundling Fast Transfer and Forwarding fees into a single quote. Integrators no longer need to build custom infrastructure to calculate multiple protocol fees independently.Flexible Fee Collection: Fees can be collected in the source chain's native token without eroding or touching the underlying USDC balance being transferred.How to get startedUpfront fee payment is available now for USDC transfers across all EVM chains supported by CCTP. While transfers originating from Solana are not currently supported, transfers to Solana are supported.
To implement upfront fee payment, integrators can query the Quote API to retrieve fee quotes.
Explore the CCTP documentation to start building predictable crosschain transfer flows today.
CCTP is a crosschain messaging infrastructure service provided by Circle Technology Services, LLC ("CTS"). CCTP is non-custodial; CTS does not hold, control, manage, or transfer user assets or act as a transfer agent, registrar, broker-dealer, investment adviser, or clearing agency. CCTP is not a financial, payment, or advisory service and has not been reviewed or approved by NYDFS or any other regulatory authority. Transfers are irreversible; CTS cannot recover assets sent to an incorrect address. CTS does not vet, endorse, or back third-party assets; such assets are subject solely to the applicable third-party terms and risks. Issuers are solely responsible for their services and compliance with applicable laws. Any fee estimates are non-binding previews; actual fees may differ. Assets are subject to a number of risks, including, but not limited to, price volatility and smart-contract, relay, and bridge vulnerabilities. Availability is subject to change. Developer terms apply.
USDC markets backed by WBTC and cbBTC are live, while roughly $5 billion held in Morpho Vaults remains unable to enter Midnight pending DAO action.
Morpho launched its Midnight fixed-term, fixed-rate lending protocol on Ethereum on Sept. 8, expanding the product beyond Base and giving Ethereum users access to USDC loans backed by WBTC or cbBTC.
The deployment adds predictable borrowing terms for Ethereum users, but its largest potential source of capital remains blocked. Morpho Vaults, which hold about $5 billion in deposits, can still allocate only to Morpho Blue markets until the DAO enables Midnight allocations.
Morpho’s Ethereum-filtered Markets page displayed $7.41 million in total deposits and $2.63 million in outstanding loans around publication. The retained page output did not expose the individual market rows, so those displayed totals could not be broken down between the WBTC and cbBTC markets.
The practical difference from Morpho Blue is rate certainty. Blue uses open-ended loans whose rates change according to a formula, while Midnight trades credit units at market-set prices for fixed maturities. A borrower can therefore establish the financing cost in advance, and a lender can lock a return rather than remain exposed to a rate that changes every block.
Midnight lenders buy credit units below their one-to-one redemption value at maturity. Morpho’s documentation says two lenders in the same market can receive different rates because each rate is determined by the price at which the lender trades.
Morpho co-founder Merlin Egalite said the Ethereum rollout would begin with “USDC | cbBTC and USDC | WBTC markets” and expand progressively. Both collateral types are tokenized representations of bitcoin on Ethereum.
Vault Capital Remains BlockedThe launch does not yet open Midnight to Morpho Vaults, the protocol’s curated deposit products. Morpho co-founder and CEO Paul Frambot said enabling vault allocations would take one DAO transaction, but would also open the newer protocol to significant capital.
Frambot said Morpho wants curators and users to become familiar with Midnight and give the ecosystem time to develop supporting tools before enabling that route. Morpho expects vault activation in the fourth quarter.
Until the DAO acts, Midnight’s Ethereum markets must attract capital through direct offers rather than Morpho’s existing vault deposit base.
TLDR KuCoin launched KCUSD on September 7, a new yield product for stablecoin holders Users can subscribe with USDT, USDC, or USDG with no subscription fee The base APR is dynamic and can reach up to 4% A promotional APR of up to 6% is available for qualifying new deposits during launch KuCoin plans to let KCUSD be used as trading collateral in the future, though this feature is not active yet KuCoin launched a new product called KCUSD on September 7. The product lets eligible users earn daily returns on their stablecoin holdings.
KCUSD is not a typical stablecoin meant for payments or transfers. Instead, it works as a yield-bearing product inside KuCoin’s platform.
The product is open to retail, high-net-worth, and institutional users who meet eligibility requirements set by the exchange.
How KCUSD Works Users can subscribe to KCUSD with USDT, USDC, or USDG. The minimum subscription is just one unit of any supported stablecoin.
There is no subscription fee to join the product. Users can redeem their funds in the same asset they originally used to subscribe.
Returns are credited daily and added automatically to a user’s balance. This means holders do not need to manually reinvest their earnings.
The base annual percentage rate is dynamic and can reach up to 4%. KuCoin has not said how often this rate may change.
During the launch period, users who deposit qualifying new funds can earn a promotional APR of up to 6%. KuCoin has not said how long this higher rate will last.
KuCoin said the yield comes from real-world assets. These include tokenized U.S. Treasury securities.
What Comes Next For KCUSD KuCoin has said KCUSD could eventually be used as collateral for margin and trading purposes. This feature is not active yet.
If this feature launches, users may be able to earn yield while still using their funds for trading. For now, KCUSD only works as a hold-to-earn product.
KuCoin has not given a timeline for when the collateral feature will launch. The company also has not shared full details about how the supporting assets are managed.
Information about custody arrangements and independent verification of the underlying assets has not been made public. These details could affect how users judge the safety of the product.
The advertised APR is not fixed. Actual returns could shift depending on market conditions and how the supporting assets perform.
Yield-bearing crypto products carry risks. These can include platform risk, liquidity risk, redemption risk, and regulatory risk.
KuCoin has encouraged users to review the product terms before signing up. This includes reading about eligibility rules and redemption conditions.
As of September 8, KCUSD remains available to eligible users through KuCoin’s platform. The company has not announced further updates beyond its initial launch details.
F2Pool co-founder Chun Wang criticized Zcash on Sept. 8 as ZEC traded near $1,130 following a rally that carried the privacy coin into the cryptocurrency market’s top ten.
Summary
Zcash traded near $1,130 after gaining more than 2,300% during the previous twelve months overall. F2Pool co-founder Chun Wang criticized Zcash’s funding structure, governance history and optional privacy model publicly. Zcash allocated 20% of early block rewards through its original four-year Founders’ Reward system initially. Ironwood replaced Orchard after developers disclosed a four-year vulnerability carrying theoretical hidden counterfeiting risks onchain. Developers found no evidence of exploitation but cannot cryptographically prove counterfeit ZEC never existed privately. Wang, who posts under the name Chun at @satofishi, called the move a “narrative bid.” He argued that Zcash’s funding history, optional privacy model, governance disputes and recently disclosed Orchard vulnerability did not justify its valuation.
His comments are opinions rather than evidence of wrongdoing. Several underlying events are documented, but some of Wang’s conclusions omit later changes to Zcash’s funding and privacy systems.
ZEC was trading around $1,130 when this report was prepared, down nearly 7% over 24 hours. CoinMarketCap placed its capitalization near $19 billion and ranked it tenth, while CoinGecko placed it ninth. Rankings can differ because platforms use different supply and asset-classification methods.
The token remained more than 2,300% higher than one year earlier, according to market data cited in coverage of Zcash’s move above $1,000. Its rally accelerated after Grayscale converted its Zcash Trust into a U.S.-listed spot exchange-traded fund in August.
Six years ago, a Zcash team member wrote me and kept confusing EST and EDT. Communication went nowhere, I banned their entire company.
Six years later, this is still one of the best decisions I have made.
Still remember the BlockFi incident where they were supposed to send… https://t.co/hY6H6W37pj
— Chun (@satofishi) September 8, 2026 Zcash funding criticism needs historical context Wang said Zcash did not have a fair launch because 20% of its early block rewards went to founders, employees, advisers and investors.
The underlying percentage is correct. During Zcash’s first four years, miners received 80% of each block subsidy, while the Founders’ Reward received 20%. Because that arrangement covered only the first issuance period, it represented 2.1 million ZEC, or 10% of the planned 21 million maximum supply.
The recipients included founders, investors, employees and organizations supporting development. The 2.1 million ZEC did not go exclusively to Electric Coin Company, a distinction noted in historical community discussions.
The Founders’ Reward ended with the Canopy upgrade in November 2020. Zcash then introduced a development fund that also received 20% of block rewards between the first and second halvings.
Under that arrangement, 7% went to Electric Coin Company, 5% to the Zcash Foundation and 8% to Major Grants, later renamed Zcash Community Grants. Miners continued receiving 80%.
That development fund added a maximum of approximately 1.05 million ZEC, equal to 5% of the eventual supply. Combined with the original Founders’ Reward, the two mechanisms directed up to 15% of the maximum supply toward founders, investors and different development recipients across eight years.
Wang’s description becomes less precise when applied to the present system. Since November 2024, Zcash has continued allocating 20% of block rewards for ecosystem funding, but the recipients changed.
The official Zcash network page states that 8% goes to Zcash Community Grants and 12% entered a protocol-tracked lockbox. Direct payments to Electric Coin Company and the Zcash Foundation ended under that structure.
The lockbox had no immediate withdrawal mechanism when introduced. Its purpose was to hold funds until the community agreed on a decentralized distribution process. Therefore, describing the current allocation as a direct continuing payment to “a company and its backers” would be inaccurate.
Whether any protocol-funded development mechanism is appropriate remains a policy judgment. Bitcoin generally directs its subsidy to miners, while Zcash chose to reserve part of issuance for software development and ecosystem grants.
Zcash governance dispute did not stop the network Wang also cited the January departure of the Electric Coin Company team following a dispute with Bootstrap, the U.S. nonprofit that governed ECC.
The departure occurred on Jan. 7. Then-CEO Josh Swihart said the entire team had been “constructively discharged” after employment conditions changed. He accused a majority of Bootstrap’s board of acting against the company’s mission.
Bootstrap disputed that framing. Its board said the disagreement concerned nonprofit law, fiduciary responsibilities and plans involving the Zashi wallet and outside investment.
The board argued that assets held by a public-benefit nonprofit could not be transferred in a way that created improper private benefits. No court has ruled on either side’s description of the dispute.
The former ECC employees did not abandon Zcash development. They announced a new company, Zcash Open Development Lab, and continued working on the protocol and privacy-related products.
Zcash founder Zooko Wilcox defended the integrity of the Bootstrap directors and said the conflict did not affect the protocol. The blockchain continued operating because miners, nodes and multiple development groups did not depend on ECC’s corporate existence.
The episode still exposed a governance divide among organizations responsible for core software, funding, trademarks and wallets. Wang’s statement that the disagreement proved Zcash was “broken at the top” is his interpretation, not an established technical finding.
ZEC fell sharply when the split became public in January. That verified price reaction showed that traders considered the developer dispute material, even though the blockchain itself did not halt.
Ironwood contained the Orchard supply risk Wang’s strongest factual criticism concerns a vulnerability in Orchard, Zcash’s main shielded pool between May 2022 and July 2026.
Security researcher Taylor Hornby discovered the flaw in May. The error involved an under-constrained element within Orchard’s cryptographic circuit. In theory, an attacker could have supplied invalid inputs and created counterfeit ZEC that ordinary verification would accept.
Developers deployed an emergency fix on June 1. They reported finding no evidence that anyone had exploited the vulnerability.
However, the privacy properties of Orchard prevent developers from cryptographically proving that no counterfeit ZEC was created before the patch. The flaw existed from Orchard’s May 2022 activation until the emergency response, according to the technical disclosure.
That limitation supports part of Wang’s criticism. Transparent ledgers allow observers to calculate visible supply directly. A shielded pool conceals transaction values, so its supply integrity depends on the soundness of its cryptographic rules.
The inability to prove non-exploitation is not evidence that counterfeiting occurred. It means the available evidence cannot eliminate that possibility with cryptographic certainty.
Zcash activated Ironwood at block 3,428,143 on July 28. The upgrade opened a separately tracked shielded pool and prevented Orchard from accepting new deposits or internal transfers. Orchard users could still withdraw funds.
Ironwood introduced an accounting checkpoint that prevents more ZEC from leaving Orchard than entered it. Any counterfeit balance remaining in the old pool therefore cannot pass freely into the new pool beyond the recorded amount.
As crypto.news reported, Ironwood replaced Orchard with a formally verified shielded design. The verification provides stronger assurance that Ironwood cannot create hidden counterfeit ZEC under its stated design assumptions.
The upgrade did not retroactively prove that Orchard was never exploited. It contained the unresolved supply risk and created a new accounting boundary for future transactions.
Optional privacy is seeing greater use Wang argued that optional privacy had left most ZEC in transparent addresses for much of the network’s history. Zcash does allow both transparent and shielded transfers, unlike Monero, where privacy protections apply by default.
Exchange support, wallet limitations and the higher computing requirements of early shielded transactions slowed adoption. Transparent addresses remained easier for many services to support.
Recent data presents a more mixed picture. Shielded ZEC increased from about 8% of supply in early 2024 to approximately 30% by May 2026. Shielded transactions accounted for 59.3% of network activity at that point, according to data cited in reporting on growing shielded adoption.
Those figures do not prove that Zcash has developed a broad commercial economy. They do show that the claim that privacy remains almost unused is outdated when applied to current network activity.
Wang compared Zcash unfavorably with Solana and Hyperliquid, arguing that both networks process more visible economic activity. That comparison relies on different use cases. Solana supports general-purpose applications, while Hyperliquid focuses on trading. Zcash primarily offers payments with optional transaction privacy.
Market capitalization also does not measure protocol revenue, payment volume or user numbers directly. ZEC’s top-ten position records the market value assigned to circulating tokens, not a verified ranking of network utility.
BlockFi error was real but unrelated to Zcash Wang separately referred to BlockFi’s 2021 promotional payment error. BlockFi confirmed that some customers received rewards denominated in Bitcoin instead of U.S. dollars.
Some users withdrew the unexpected payments before BlockFi reversed them. The company said fewer than 100 customers withdrew incorrect awards and initially placed its remaining exposure near $10 million.
Reports showed individual account credits involving hundreds of BTC. However, BlockFi did not publicly verify Wang’s specific example of a customer receiving 701.4 BTC instead of $701.40.
The payment mistake had no operational connection to Zcash, its developers or zk-SNARK cryptography. Wang used it as an analogy for poor attention to detail, alongside his earlier disagreement with a Zcash team member over Eastern Standard Time and Eastern Daylight Time.
His six-year-old decision to block the company was personal. Confusion over time-zone terminology does not establish that Zcash’s cryptographic work was defective.
What happens next for Zcash Ironwood remains the main technical response to the Orchard vulnerability. Users must move funds out of Orchard for them to enter the new shielded pool, while developers can monitor the accounting checkpoint during that migration.
The ecosystem must also determine how development funding is governed and distributed. Debate over the 20% allocation is likely to continue because it affects miners, grant recipients and ZEC holders differently.
For traders, the immediate question is whether ZEC can retain its top-ten capitalization after a steep rally. The token fell from an intraday high above $1,216 to around $1,130, showing elevated volatility.
A rally driven partly by ETF access and short liquidations does not prove Chun Wang’s criticism correct or incorrect. It shows that market price, protocol security and network use remain separate measures requiring independent evidence.
FAQs Who is Chun Wang? Chun Wang is a co-founder of F2Pool, one of the cryptocurrency industry’s longest-running Bitcoin mining pools. He posts on X under @satofishi.
Did Zcash give founders 20% of its total supply? No. The Founders’ Reward received 20% of block issuance during the first four years. That equaled 2.1 million ZEC, or 10% of the maximum supply.
Was the Orchard vulnerability exploited? Developers reported finding no evidence of exploitation. Orchard’s privacy design means they cannot prove with cryptographic certainty that hidden counterfeiting never occurred.
Did Ironwood destroy coins held in Orchard? No. Orchard stopped accepting new deposits and internal transfers, but withdrawals remain possible through an accounting checkpoint designed to contain any excess supply.
Did BlockFi send Bitcoin instead of dollar rewards? Yes. BlockFi confirmed the general payment error in 2021. The specific 701.4 BTC example cited by Wang was not publicly
Zcash (ZEC) and Hyperliquid (HYPE) are currently delivering some of the biggest returns in the cryptocurrency market. Hyperliquid (HYPE) has hit multiple all-time highs over the last few months. Zcash (ZEC), on the other hand, reclaimed the $1000 price level for the first time in nearly 10 years. Let’s discuss if the two cryptocurrencies are the stars of this year’s market cycle.
Zcash (ZEC) And Hyperliquid (HYPE) To Dominate the 2026 Cryptocurrency Market Cycle?Source: RedditZcash (ZEC) began its upward momentum after Grayscale launched its spot ZEC ETF (Exchange Traded Fund). ETFs have become a key price determiner in the cryptocurrency sector. A similar pattern was seen with Bitcoin (BTC) and Ethereum (ETH). Both assets climbed to new all-time highs in 2025 after increased ETF inflows.
Zcash (ZEC) is also a privacy-focussed cryptocurrency. People have become increasingly distrustful of their governments due to increased surveillance. Many have moved to cryptocurrencies, especially those with privacy options, to stay under the radar. The trend is expected to continue growing.
Hyperliquid (HYPE) saw increased price action after a rise in user activity on the Hyperliquid exchange. Traders flocked to the platform earlier this year to trade oil futures. Unlike other exchanges, the Hyperliquid exchange was open 24/7, which made it very attractive for traders. Hyperliquid’s (HYPE) latest rally began after President Trump’s cryptocurrency event at the White House. During the event, Trump stated that CFTC (Commodity Futures Trading Commission) Chair Michael S. Selig was working on Hyperliquid launching in the US. The anticipation of a US launch may have led to increased interest in the HYPE cryptocurrency, which is the exchange’s native token.
Also Read: Zcash Up 134%, Hits $1000 For The First Time In Nearly 10 Years
Both Zcash (ZEC) and Hyperliquid (HYPE) are likely rallying due to different reasons. Both assets could potentially see continued price rises over the coming months if investor confidence remains high.
Key Highlights Bitcoin retreated to approximately $78,400 during Tuesday’s session, declining more than 1% while maintaining positive weekly performance Robust U.S. employment figures showing 162,000 August job additions elevated Federal Reserve rate increase probability to approximately 60% Zcash experienced the steepest decline among major cryptocurrencies, falling close to 5%, whereas Dogecoin and BNB demonstrated resilience Brent crude advanced to roughly $97.50 per barrel, marking a six-week peak amid escalating U.S.-Iran geopolitical tensions and Strait of Hormuz shipping concerns Spot Bitcoin exchange-traded funds in the United States attracted approximately $1 billion during the previous week, maintaining a three-week positive inflow trend Bitcoin descended to approximately $78,400 during Tuesday trading, registering a decline exceeding 1% for the session. The leading digital currency by market capitalization has now struggled for two consecutive weeks to secure a closing price above the $80,000 threshold.
Bitcoin (BTC) Price The cryptocurrency momentarily surpassed $82,000 during the previous week before retreating following Friday’s employment statistics release. Nevertheless, Bitcoin maintains approximately 25% gains from August levels and preserves modest weekly advancement.
The broader cryptocurrency market experienced similar downward pressure on Tuesday. Zcash suffered the most significant losses, declining nearly 5% to trade around $1,125. Despite this setback, it retains an impressive 33% weekly increase, positioning it as the strongest performer among large-cap digital assets.
Solana decreased more than 2% to settle just above $103, completely erasing its accumulated weekly gains. Hyperliquid’s HYPE token fell over 3% to approximately $84, similarly eliminating its weekly progress.
Ether experienced a roughly 1% decline, trading just beneath $2,482. XRP softened to around $1.38 while Tron remained relatively stable at approximately 33 cents.
Dogecoin and BNB demonstrated the strongest resistance to selling pressure, each declining by merely a fraction of a percentage point. Both cryptocurrencies maintained robust seven-day gains approaching 9% and exceeding 7% respectively.
Employment Data Elevates Fed Tightening Expectations Tuesday’s cryptocurrency market weakness stemmed primarily from August’s employment report. American employers added 162,000 positions, significantly exceeding economist projections by nearly threefold. The unemployment rate remained unchanged at 4.1%.
These employment figures elevated the market-implied likelihood of a 25-basis-point Federal Reserve rate increase at the September 16 policy meeting to approximately 60%, based on CME FedWatch data.
Elevated interest rates typically create headwinds for Bitcoin and comparable risk assets. They enhance the attractiveness of yield-generating investments and create tighter overall financial conditions. The 10-year Treasury yield remained near 4.8%.
Market participants are currently focused on Thursday’s producer price index release and Friday’s consumer price index data. An unexpectedly high inflation reading could drive Fed rate increase probability toward two-thirds, potentially testing Bitcoin’s $77,000 support zone.
Energy Prices Compound Inflation Concerns Brent crude advanced to approximately $97.50 per barrel, representing a six-week high. Escalating U.S.-Iran geopolitical tensions are fueling the rally, with mounting concerns regarding potential shipping disruptions through the strategically vital Strait of Homuz.
Elevated oil prices sustain inflation anxieties ahead of Friday’s CPI release, creating additional resistance for cryptocurrency markets.
On a constructive note, U.S. spot Bitcoin exchange-traded funds attracted approximately $1 billion in capital during the previous week, continuing a three-week sequence of positive inflows. This institutional buying activity has provided price support throughout the recent correction.
One market strategist observed that long-term Bitcoin holders transitioned to net accumulation during late August for the first time throughout this market advance, representing a behavioral shift that numerous traders are monitoring with interest.
Zcash hit roughly $1,130 on September 8, 2026, capping a run that saw ZEC gain more than 2,300% over the prior year. Wang Chun, co-founder of mining pool F2Pool, publicly characterized the move as a “narrative short squeeze,” a price surge powered by exchange listings, speculative momentum, and forced short covering rather than any meaningful change in how Zcash actually gets used.
What pushed ZEC to these levels The clearest catalyst was Grayscale converting its Zcash Trust into a U.S.-listed spot ETF in August 2026. The 24-hour trading volume on September 8 sat at approximately $3.18 billion, which is not a number typically associated with organic user growth in a privacy coin network.
Chun’s concern is that Zcash’s market cap, at these levels, becomes comparable to networks like Solana and Hyperliquid. The optional nature of Zcash’s shielded transactions means the majority of ZEC has historically circulated through transparent addresses, the same kind anyone can inspect on a standard block explorer.
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A history of structural problems Chun also pointed to the Founder Rewards mechanism baked into Zcash’s original design. For the network’s first four years, 20% of every block reward was directed to founders, investors, and the Electric Coin Company. That equated to roughly 2.1 million ZEC, or about 10% of the total supply cap, flowing to insiders before the broader market saw a single new coin from those blocks.
The Electric Coin Company saw its team exit in January 2026 amid disputes involving the Zcash Foundation and a separate entity called Bootstrap.
The Orchard shielded pool vulnerability, disclosed in May 2026, theoretically could have allowed an attacker to mint ZEC without detection, bypassing the cryptographic guarantees that make shielded transactions meaningful. Developers said they found no evidence the bug was exploited, but they could not produce a definitive cryptographic proof that no exploitation occurred. The Ironwood upgrade in July 2026 sealed the affected pool and migrated assets out of the vulnerable state.
What the valuation gap actually means Solana processes millions of transactions daily across a dense ecosystem of decentralized finance applications, consumer products, and institutional infrastructure. Hyperliquid built a derivatives exchange that generates real fee revenue from real trading activity. Zcash’s comparable metrics in terms of active shielded addresses, daily transaction counts, and developer commits have not seen growth to match its price trajectory.
The specific combination of factors Chun identifies—optional privacy with low adoption, a founder rewards overhang embedded in community memory, a governance rupture months before the rally, and a theoretical inflation vulnerability in the privacy pool—adds up to a risk profile that the price does not obviously reflect.
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Although Zcash has continued to soar above $1,200, two technical indicators point to a growing likelihood of a significant correction. ZEC is still structurally bullish, but after its most recent increase, the extreme divergence from its moving averages and waning momentum merit consideration.
Zcash is back above key levelsAfter hitting about $1,250, ZEC is currently trading at about $1,124. Only a few sessions ago, the asset was trading close to $800; at its highest point, the most recent leg alone produced gains of about 50%. RSI is the first to issue a warning. The price of ZEC has reached a significantly higher peak, rising from the August peak of about $880 to more than $1,200.
ZEC/USDT Chart by TradingViewHowever, RSI has not been able to generate a correspondingly higher high. Despite the significantly higher ZEC price, the indicator peaked at a higher level during the August rally and is currently around 74. As a result, there is a bearish RSI divergence as the price keeps hitting new highs while the underlying momentum wanes.
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After near-vertical advances, these divergences become more significant, but they do not always put an end to rallies. ZEC's drastic departure from its moving averages is the second signal. Even after the most recent decline, ZEC is still about 33 percent above its closest significant dynamic support, as the 20-day moving average is currently close to $847. While the longer averages stay close to $614 and $512, the 50-day average is about $650.
Substantial gap around ZECThis indicates that there is a sizable technical gap below the current price as a result of the rally. ZEC does not have to immediately return to those averages, but if profit-taking picks up speed, the lack of nearby established support raises the possibility of a decline. The first crucial area to keep an eye on is roughly $1,040–$1,080, which corresponds to the most recent breakout region.
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Holding it might enable ZEC to stabilize before making another attempt at $1,200–$1,250. In a breakdown, the $950 region would be significant, followed by the $800–$850 previous consolidation zone. The latter is also in close proximity to the quickly rising 20-day moving average.
As a result, Zcash is still in a strong uptrend, but the nature of the rally has evolved. Demand must now be more aggressive in order to sustain momentum as a bearish RSI divergence appears and the price is remarkably extended above its trend averages.
Zcash’s (ZEC) triple-digit rally has put pressure on short sellers, who now watch their positions sink deeper into the red.
ZEC has gained 120% in the past month alone and trades near $1,124. It crossed $1,000 last week for the first time in nearly a decade.
Zcash (ZEC) Price Performance. Source: BeInCrypto MarketsFollow us on X to get the latest news as it happens
ZEC Shorts Sink Further as Zcash Leads the Only Winning Sector The rally has proved costly for traders positioned against ZEC. Hyperliquid data shows trader Garrett Jin, wallet 0x92ea…50e9, short 39,760 ZEC worth $44.86 million from an average entry of $576.30.
“Garrett Jin just closed his entire 1,332 BTC ($105.4M) long for a $2.7M profit and is now fully focused on shorting ZEC,” Lookonchain posted.
Garrett Jin’s ZEC Short Position. Source: HypurrscanThat trade is down $21.94 million and liquidates at $2,540.47. A second wallet, 0xdd53…2b13, is short 27,557 ZEC from $644 and is sitting on a paper loss of $13.33 million.
A third, 0x362a…1d9f, is down $4.12 million on 15,785 ZEC. Together, the three sit on roughly $39 million in unrealized losses.
This trader is down over $5M on his $ZEC short.
Previously, he made +$9M in 6 weeks by winning 26 trades in a row.
He remains fully convinced and is not closing his trade.
What does he know? pic.twitter.com/u4eed3sj19
— CryptoGoos (@cryptogoos) September 7, 2026
None of them has folded yet. Funding has softened the blow, with Jin collecting $554,850 since opening the trade, because positive funding rates mean long positions pay short ones.
These bears are not just fighting one token, however. They are short, the only sector still above its level when Bitcoin (BTC) peaked in October.
Privacy Is the Only Sector Still Above the October HighBitcoin sits 36% below its October 2025 peak, and the median top-200 asset trades 58% lower. Privacy coins are the exception, up 213% over that stretch, Glassnode found.
The sector was worth $7.1 billion a year ago. It is worth $33.6 billion today. ZEC drove most of that expansion.
Glassnode puts it at 62% of the sector by market cap and up 2,496% in 12 months. Strip ZEC out, however, and the remaining privacy basket is still up 85%.
Institutional money has followed. Grayscale listed the first US spot Zcash exchange-traded fund (ETF) on NYSE Arca on August 25, and the fund has since gathered $463 million.
Still, the concentration cuts both ways. ZEC futures open interest sits at $2.56 billion, per CoinGlass, so the same leverage punishing the bears could turn on the longs if the privacy bid fades.
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Zcash (ZEC) has surged back above key technical levels, posting strong gains in recent trading sessions. The privacy-focused cryptocurrency recently climbed to a high near $1,250 but is now trading around $1,124. The latest rally propelled ZEC nearly 50% higher from its recent price near $800, highlighting renewed investor interest after weeks of subdued movement.
Technical signals suggest caution despite uptrendAlthough Zcash remains structurally bullish in the medium term, technical indicators have started to suggest a potential loss of momentum. The relative strength index (RSI), a common momentum gauge, is showing signs of bearish divergence compared to price action. The current RSI stands at approximately 74, lower than its peak during ZEC’s previous rally in August, even as the price has recently moved far above those former highs.
Bearish RSI divergence occurs when the price of an asset hits higher highs while the RSI fails to reach new peaks, often interpreted as a warning that underlying momentum may be diminishing. Historically, this pattern can precede corrections, especially after rapid price advances, but it does not always signal the end of a rally.
During this leg, ZEC soared from about $800 to $1,250 in only a few sessions, while the RSI failed to keep pace—a classic bearish divergence suggesting caution as price action extends higher.
A second technical red flag involves Zcash’s distance from its primary moving averages. The 20-day moving average is now close to $847, about 33% below the current trading level. The 50-day moving average is near $650, while longer-term trendlines remain at approximately $614 and $512. This divergence highlights a substantial gap beneath the current price.
Key support and resistance levels to watchWith ZEC significantly above its major moving averages, the lack of nearby technical support may amplify risk if profit-taking increases. Analysts identify the $1,040 to $1,080 zone as the first significant support area, corresponding to the recent breakout region. If ZEC manages to consolidate in this range, it could attempt another move toward the $1,200 to $1,250 resistance band.
If a breakdown occurs, the $950 range is expected to hold initial support, followed by the $800 to $850 zone where ZEC previously consolidated. Notably, the rapidly rising 20-day moving average now aligns closely with this lower support region, adding further significance to the level.
Moving AverageCurrent Level20-day$84750-day$650Long-term (est.)$614 / $512Outlook: Uptrend remains, but risks growWhile Zcash continues its strong uptrend, the nature of the rally appears to be shifting. The extension far above its trend averages and the appearance of a bearish RSI divergence highlight the need for continued demand to sustain price levels. If momentum weakens further, the absence of nearby support levels increases the possibility of a technical correction.
Zcash is a decentralized cryptocurrency focused on privacy and anonymity, using advanced cryptographic techniques to shield transaction details from public view. Its unique approach to privacy distinguishes it from many other crypto projects, which typically maintain transparent blockchains.
Mini dictionary: Relative Strength Index (RSI): A technical indicator used to measure the magnitude of recent price changes, identifying overbought or oversold conditions in an asset. Readings above 70 often signal potential overbought conditions, while readings below 30 may indicate oversold levels.
Zcash (ZEC) has recorded one of its strongest rallies in years, soaring over 40% this week to surpass $1,200 for the first time since 2017. The surge propelled ZEC ahead of Bitcoin and much of the broader cryptocurrency sector, drawing heightened attention from traders and investors seeking high-momentum assets.
Grayscale ETF boosts Zcash inflowsA significant catalyst for the ZEC rally arrived in late August when Grayscale, a leading digital asset management firm, launched the Zcash Trust ETF (ZCSH) on NYSE Arca. This product enables investors to gain exposure to ZEC via conventional brokerage accounts, eliminating the need to directly purchase and store the token.
After the fund’s debut, Grayscale attracted at least $34.4 million in net inflows, quickly creating robust spot demand for ZEC. Market participants noted that Zcash stands out as a leader among privacy coins benefiting from new ETF investment structures.
Grayscale, known for managing large-cap cryptocurrency trusts, continues to hold significant ZEC inside its investment vehicle. Public companies and miners have also been accumulating ZEC alongside the ETF-driven inflows.
Mini dictionary: Grayscale is a digital asset management firm that offers cryptocurrency investment vehicles, including exchange-traded funds (ETFs) and trusts, allowing investors to gain exposure to digital assets without directly owning or managing the underlying coins.
The fast inflow of $34.4 million into Grayscale’s Zcash ETF gave Wall Street an accessible entry point, amplifying demand for ZEC and fundamentally changing its trading dynamics.
Short squeeze accelerates ZEC gainsZcash’s breakout has driven a series of notable liquidations in the derivatives market, creating extreme volatility. The climb above $1,000 triggered the closure of approximately $34.5 million in short positions in one day, as leveraged traders betting against ZEC scrambled to buy back the asset to cover their losses. When ZEC surged closer to $1,200, liquidations intensified, wiping out another $45 million of positions in a single session.
This forced buying, a classic short squeeze, can amplify rapid price moves as higher prices force more shorts to cover. Market analysts observed a feedback loop: as ZEC rallied, further liquidations created continued upward momentum.
EventImpactShort LiquidationsZEC surpasses $1,000Initial surge, heavy liquidation$34.5 millionZEC nears $1,200Volatility intensifies$45 million As ZEC prices rise, leveraged short sellers are forced out of their positions, resulting in waves of buying that propel the price even higher—a dynamic witnessed during the recent surge above $1,000 and $1,200.
Network trends and outlookParallel to the ETF-driven action, more ZEC has been moving into shielded pools, which are privacy-enhanced wallet balances within the Zcash network. Latest figures show shielded holdings climbing toward 4.85 million ZEC, the highest level since June and a sign of rising confidence in Zcash’s privacy features.
This trend contributed to reducing the immediately available ZEC supply on public exchanges, increasing the upward pressure on price during the recent rally.
However, market observers cautioned that such dramatic upswings can rapidly reverse if ETF inflows slow or market momentum stalls. Leveraged traders, whose buybacks powered the latest gains, could quickly exit positions, increasing volatility on the downside as well.
The sudden burst of spot and ETF-driven demand, combined with significant short squeezes, demonstrates how quickly supply-demand imbalances can lead to sharp moves in ZEC’s price.
Zcash (ZEC) has made a stunning jump into crypto’s top 10, reaching a $19.48 billion market cap after its price surged above $1,250. ZEC is up more than 2,200% in a year and 125% in 30 days.
But F2Pool co-founder Chun Wang says the rally is being narrative-driven by a story rather than real fundamental growth.
Zcash: Big Market Cap Does Not Mean a Coin Earned Its PlaceIn a recent tweet, Wang called the Zcash rally a “narrative bid,” questioning whether Zcash’s roughly $19 billion market cap reflects its actual use and fundamentals.
“Zcash’s latest rally is a narrative bid. A big market cap does not mean a coin earned its place.”
Meanwhile, the rally has been driven by several factors, including Grayscale’s U.S. spot Zcash ETF, tighter supply, and short covering. But Wang argued that these factors may explain the price rise but do not prove stronger network use or fundamentals.
He further said that sitting close to networks such as Solana and Hyperliquid by market cap does not mean Zcash offers similar real-world use.
Wang Questions Zcash’s Early Token DistributionWang’s main criticism is not simply that Zcash’s price is too high. His argument is that ZEC’s market ranking has risen much faster than the actual strength and use of the network.
One of his biggest concerns is how Zcash was funded during its early years. Wang pointed to the 20% Founders’ Reward that was taken from every block reward during the first four years.
That allocation amounted to about 2.1 million ZEC, equal to 10% of the 21 million maximum supply, and went to founders, employees, advisors, and early investors. After that system ended, a similar share later returned through a development fund.
Zcash’s latest rally is a narrative bid. A big market cap does not mean a coin earned its place. Sitting near Solana and Hyperliquid on a ranking list does not mean Zcash does what those two do.
The launch was not fair. For the first four years, 20 percent of every block reward… https://t.co/g1PNEKWCNr
— Chun (@satofishi) September 8, 2026 Wang argues that this history makes it difficult to compare Zcash with Bitcoin’s mining reward model.
Governance and Security Add to the DebateWang also raised concerns about Zcash’s governance and privacy model. The project has faced disputes involving the Electric Coin Company and Zcash Foundation, while the entire ECC team left in January 2026.
He also pointed to a vulnerability in the Orchard shielded pool that was disclosed in May 2026 after reportedly existing for around four years.
Developers found no evidence that counterfeit ZEC had been created, while the later Ironwood upgrade closed the old pool.
For Wang, these issues matter because Zcash’s valuation has now reached levels comparable to major networks.
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Zcash (ZEC), a privacy-focused cryptocurrency, recorded a 2,496% price surge, marking one of the most significant rallies in the digital asset sector this year. This dramatic rise propelled the market capitalization of the broader privacy coin segment to $33.6 billion, reversing what had been a prolonged period of stagnation.
Broader market gains see few annual winnersAnalytical firm Glassnode indicated that 91.5% of the top 200 crypto assets posted monthly gains, the most extensive surge its records have shown for a single month. Despite this broad rally, annual performance data paints a much less optimistic picture for most tokens.
Within the top 200 cryptocurrencies by market capitalization, only 25 assets are in positive territory for the year. The median asset remains down by approximately 55%, underscoring that Zcash’s remarkable ascent is the exception rather than the norm among major blockchain projects.
Despite this month’s strong recovery across most digital assets, Zcash’s performance stands out as a rare positive outlier compared to its peers, as the majority of top cryptocurrencies have not managed to recover their yearly losses.
Regulatory clarity boosts Zcash sentimentSentiment for Zcash improved notably in January 2026 after the US Securities and Exchange Commission (SEC) concluded a multi-year investigation into the Zcash Foundation. The regulator opted not to take enforcement action, effectively reducing a significant barrier for institutional participants interested in engaging with Zcash.
The Zcash Foundation is a non-profit organization dedicated to supporting the development of privacy infrastructure in the blockchain sector, particularly for the Zcash protocol.
Mini dictionary: Zcash Foundation, a non-profit entity developing and promoting privacy features for Zcash and similar technologies in blockchain.
Asset2026 Price GainAnnual Position*Sector Market CapZcash (ZEC)2,496%Positive$33.6 billion (Privacy Coins)Median of Top 200-55%NegativeN/AMarket outlook remains cautiousWhile the monthly rebound offers optimism for some investors, analysts note that sustained recovery across the broader market remains uncertain. Many assets are still well below their previous yearly highs, and ongoing regulatory developments continue to affect sentiment and institutional adoption.
While Bitcoin is trading sideways in a certain range in the cryptocurrency market, some altcoins are attracting attention with their gains. One of these altcoins is the privacy-focused Zcash.
According to analysts, ZEC’s recent sharp rise is due not to a single development, but rather to a combination of factors including the ETF effect, a resurgence in interest in privacy-focused cryptocurrencies, and the squeeze on short positions created by leveraged trading.
However, F2Pool co-founder Chun Wang questioned ZEC’s rise. According to Wang’s assessment, a significant portion of the rally stems from temporary factors such as market narrative, speculative demand, and short squeeze, rather than fundamental usage growth.
“The Rise of ZEC is Entirely Narrative-Driven!” F2Pool co-founder Chun Wang, in statements made via X, claimed that Zcash’s recent rise is largely narrative-driven.
According to Wang, a crypto asset reaching a high market capitalization doesn’t necessarily mean it deserves its current market ranking.
Wang noted that Zcash’s ranking alongside projects like Solana and Hyperliquid in market capitalization doesn’t necessarily mean it has a similar level of real-world usage to those networks.
According to him, ZEC cannot compete with a top 10 network by market capitalization due to reasons such as unfair token distribution, governance issues in the Zcash ecosystem, high compensation claims against the team and developers, prolonged operational conflicts, and a security vulnerability in the Orchard privacy pool that allegedly existed for about four years.
However, Wang added that Solana and Hyperliquid each have their own points of criticism and have achieved real use cases, while ZEC has only seen price increases linked to exchange listings and short squeeze, and this should not be equated with real-world use.
*This is not investment advice.
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Zcash price traded near $1,150 on Sep. 8 after a sharp six-day rally carried ZEC from about $814 to a multi-year high of $1,249, with derivatives liquidations and a major technical breakout supporting the move.
Summary
Zcash price gained more than 53% between its Sep. 3 level and the Sep. 6 peak. ZEC remains above the 4-hour Supertrend support at $1,076 despite profit-taking. The daily MACD remains bullish, while key moving averages sit far below the current price. Liquidation clusters near $1,180 and $1,200 could shape the next short-term move. Zcash price consolidates after reaching $1,249 According to data from crypto.news, Zcash (ZEC) price was trading at $1,150.62 at the time of the daily chart snapshot, up 0.92% during the session. ZEC opened at $1,140.26 and moved between an intraday low of $1,113.66 and a high of $1,174.03.
The token remains about 8% below the $1,249.28 peak recorded on Sep. 6. However, the pullback has not erased much of the rally that began near $813.95 on Sep. 3. Based on those levels, ZEC gained more than 53% at its peak and was still up about 41% by Sep. 8.
Price action on the 4-hour chart shows ZEC consolidating between approximately $1,110 and $1,170 after the initial correction from the high. Buyers have repeatedly entered near the lower end of that range, although attempts to move beyond $1,170 have faced selling pressure.
The rally followed a derivatives-driven short squeeze that liquidated more than $46 million in bearish positions within 24 hours, according to the supplied market data. Forced position closures added buying pressure as ZEC crossed $1,000 and accelerated toward $1,250.
Daily trading volume also rose above $1.2 billion during the advance, reflecting stronger market participation than Zcash had recorded before the breakout.
ZEC technical indicators remain bullish The daily chart shows ZEC trading well above all four major moving averages. The 20-day simple moving average stands at $883.74, followed by the 50-day SMA at $650.98 and the 100-day SMA at $560.52.
Zcash price daily chart — Sep. 8 | Source: crypto.news The 200-day SMA is much lower at $458.79. ZEC is therefore trading roughly 151% above its long-term average, confirming the scale of the advance but also showing how far the price has moved from its broader trend line.
Momentum remains positive on the daily Moving Average Convergence Divergence indicator. The MACD line is at 140.71, above the signal line at 112.36, while the histogram remains positive at 28.35.
The positive configuration indicates that buyers still control the broader trend. However, the declining histogram bars following the price peak suggest that bullish momentum is beginning to cool. A continued decline in the histogram would raise the risk of a longer consolidation even if the broader uptrend remains intact.
On the 4-hour chart, the Supertrend indicator provides immediate support at $1,076.51. ZEC has remained above that level throughout the latest pullback, while the Bull Bear Power reading of 19.98 remains positive.
Zcash price 4-hour chart — Sep. 8 | Source: crypto.news A close below the Supertrend would weaken the short-term structure and could expose the psychological $1,000 level. The former breakout zone near $875–$888 would become the deeper support area if selling accelerates.
Liquidation map points to resistance near $1,180 CoinGlass’s 24-hour ZEC liquidation heatmap shows the largest nearby concentration of leveraged positions around $1,178–$1,180. Another group of liquidation levels appears between $1,195 and $1,205.
Zcash liquidation heatmap | Source: CoinGlass Price often moves toward areas containing concentrated leveraged positions because forced liquidations can add volume once those levels are reached. A break above $1,180 could therefore trigger another push toward $1,200 and the recent high near $1,249.
Additional liquidity sits above $1,230, but ZEC would first need to overcome the selling pressure that emerged during its initial retreat from the peak.
On the downside, the heatmap shows concentrations near $1,110 and across the $1,080–$1,100 region. Losing $1,140 could pull the price toward those levels, with the 4-hour Supertrend at $1,076 providing the next technical test.
Traders should also watch leverage on both sides of the market. The earlier short squeeze helped drive the rally, but a heavily leveraged long market could produce the opposite effect if ZEC breaks below nearby support.
Crypto analyst Team LAMBO Charts described ZEC’s longer-term formation as a bullish pennant and said the token had already surpassed the pattern’s initial $1,000 target.
The analyst identified $1,500 as the next upside objective while arguing that bulls remain in control as long as the breakout holds. From the Sep. 8 price near $1,150, reaching that target would require an advance of approximately 30%.
Before testing $1,500, ZEC must reclaim $1,200 and close above the Sep. 6 peak at $1,249. A sustained breakout beyond that high would leave limited recent price history to act as resistance, although profit-taking could increase as the token approaches the analyst’s target.
The bearish scenario begins with a 4-hour close below $1,076. Such a move would weaken the post-breakout structure and place $1,000 back in focus. A deeper correction toward the rising 20-day SMA near $884 would erase a larger portion of the rally but would still leave ZEC above its medium- and long-term moving averages.
For US traders, Federal Reserve expectations remain a possible source of volatility across speculative assets. Zcash has recently outperformed the broader crypto market, but shifts in rate expectations could still affect leverage and demand as traders assess the next US monetary-policy decision.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Zcash surged 128% over the past month, propelling ZEC ahead of Dogecoin to become the tenth largest cryptocurrency by market capitalization. The privacy-focused token briefly touched a multi-year high of $1,254, narrowing its gap with Hyperliquid.
Momentum grows amid rising social and trading activityOrdinarily, such rapid gains would suggest an upcoming period of consolidation or a notable correction. However, Zcash continues to see high trading volumes around $1.6 billion, accounting for approximately 8% of its circulating market cap. Strong derivatives positioning and expanding social interest have added to this momentum, indicating persistent market engagement despite the recent price rally.
Zcash’s social engagement rose sharply on August 21, when the seven-day moving average of social volume crossed above its 30-day counterpart. These bullish crossovers in the past have preceded significant appreciations in ZEC price, a pattern that has seemingly repeated during the current rally. Increased attention from traders and investors typically attracts more liquidity, helping to build momentum within an uptrend.
The token’s momentum has established Zcash as a market leader among recent trades. Continued interest from investors could provide additional support if buying pressure remains strong.
Improving sentiment across the broader crypto market has further fueled ZEC’s rise. The Crypto Fear and Greed Index climbed from a low of 36 to 73, placing overall sentiment well into “Greed” territory. Zcash appears to have benefited strongly from this risk appetite, drawing traders to its momentum-driven gains.
Zcash’s core value proposition, which centers on privacy and shielded transfers, remains fundamental to its recovery. The network rebounded following the identification of a code exploit, and the adoption of the Ironwood shielded vault has preserved its privacy features by allowing users to obscure transaction data.
Derivatives and technical breakout support bullish caseElevated derivatives activity continues to signal robust interest in ZEC. Data from CoinGlass shows open interest in Zcash futures reached a record $2.8 billion on September 6 before settling at $2.45 billion. An increase in open interest alongside price gains generally reflects traders committing fresh capital and anticipating continued volatility.
Zcash’s breakout above $680 confirmed an ascending triangle pattern, typically seen as a bullish formation. Technical projections from this structure set a long-term target near $2,500, though this would require substantial further gains from current levels.
The previous resistance at $680 is now likely to serve as structural support in the event of a pullback. Holding above this level would keep the bullish implications of the triangle intact. Market participants are closely monitoring whether sustained volume, demand for shielded transfers, and derivatives growth can drive prices towards the technical target.
While Zcash capitalizes on momentum and technical setups, broader market developments are also accelerating change. Wall Street’s move to Web3 is dismantling traditional brokerage models as investors increasingly use platforms such as 1stepSwap to directly hold shares of major US companies, as well as gold and silver, in their crypto wallets. By tokenizing real-world assets and automatically sourcing optimal prices within seconds, these platforms eliminate intermediaries and streamline asset management.
Near-term risks with overbought indicatorsDespite favorable long-term signals, some caution is warranted. The Relative Strength Index climbed to 76 for the second time in under 15 days, signaling overbought conditions. While assets may continue to rally during powerful trends, an RSI above 70 often increases the likelihood of profit-taking and short-term volatility.
A mild bearish divergence has also emerged, with Zcash’s price reaching new highs while its momentum lags. This divergence suggests the rally’s underlying strength may be waning as ZEC trades near its recent peaks.
Zcash’s price pattern now indicates $860 as a potential downside target if early buyers exit to lock in profits. A decline to this area would represent a substantial correction yet would not necessarily undermine the prevailing bullish structure.
Such a pullback could provide an opportunity for the market to reset, allowing new buyers to enter and setting a firmer foundation for a further advance. The $860 region may also attract those who missed the initial move but expect another rally towards the $2,500 target.
Traders are advised to monitor the level of leveraged exposure in derivatives markets. If leverage remains high as prices fall, the risk of amplified losses due to long liquidations could increase volatility.
Zcash’s outlook appears positive as long as it remains above major breakout levels. However, with RSI readings nearing 87 and bearish divergence patterns developing, a short-term cooling phase may be necessary before another sustained advance is possible.
Bonk Guy: PONS buyback is severely undervalued by the market, will continue adding positions during pullbacks.
Renowned trader Bonk Guy posted that PONS has seen sustained revenue growth recently, with daily income staying above $1.3 million to $2 million for most of the past week, and not dropping below $1.1 million for seven consecutive days. Meanwhile, PONS’ buyback wallet has accumulated nearly $3 million so far; these funds will be used to repurchase PONS via Time-Weighted Average Price (TWAP), and the wallet’s fee replenishment rate is currently outpacing its fund consumption rate. 100% of PONS’ generated fees are allocated to repurchases and token burns. PONS’ actual market cap is likely significantly lower than its Fully Diluted Valuation (FDV). At the time of posting, its price stood at around $0.736, translating to an FDV of roughly $736 million. However, since PONS’ launch, approximately 30% of its token supply has been repurchased and burned via fees, bringing its actual market cap closer to $515 million. Additionally, PONS hit an all-time high of ~80% market share on Robinhood Chain yesterday, holding between 75% and 80% for most of the past week. The platform also set a new all-time high for daily token issuance, peaking at 28,560 tokens in a single day, with around 27,600 new tokens launched over the past 24 hours. PONS is benefiting from the growth of the Robinhood Chain ecosystem and has established itself as the chain’s leading Launchpad. Bonk Guy noted that PONS currently boasts daily revenue of $1 million to over $2 million, nearly $3 million in buyback funds, ~30% of its supply burned, no VC unlock pressure, and strong early community support. Comparing PONS to PUMP, he argued its current actual market cap remains attractive. Traditional finance quant trading networks are also starting to take notice of PONS, calling it a potential “most tradable asset of this cycle”. He expects sustained buying during market pullbacks and is bullish on its market cap eventually reaching the multi-billion-dollar level.
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The man behind Binance, Changpeng Zhao, has made a daring prediction: Bitcoin's market cap will eventually exceed gold's.
Starting at $697,000 and going all the way up to $1.54 million per BTC, that flip has a price goal.
The current discrepancy? Maybe ten times.
In his speech at Bitcoin Asia 2026 in Hong Kong, CZ presented this as an inevitable structural change rather than a speculative enterprise.
According to him, Bitcoin will definitely overtake gold in terms of importance.
Major countries have set up elaborate gold-based systems for valuation, reserves, and trade, so moving to Bitcoin won't happen overnight.
While CZ is talking about the big picture, the market is just thinking about the near term, so there's an analytical nuance there to keep in mind.
At its current price of about $79,500 per token, Bitcoin has a market capitalization of almost $1.6 trillion.
A staggering $31 trillion – nearly 20 times higher – is the overall worth of gold's above-ground stock, which includes jewelry and industrial applications.
The gold investment choices like as bars, coins, ETFs, reserves held by central banks, and over-the-counter holdings are relatively limited, with an estimated value of $14–16 trillion.
This aligns with CZ's "tenfold" analysis.
The math is brutal and simple:
Target Gold Value BTC Price Needed Investable Gold Only ~$14-16 TN ~$697,000 Total Above-Ground Gold ~$31 TN ~$1.54 million This month, the remarkable $1.86 million was reached by Mexican millionaire Ricardo Salinas Pliego, who asserts that Bitcoin constitutes a substantial part of his investable assets.
— Don Ricardo Salinas Pliego (@RicardoBSalinas) September 3, 2026 The divide between CZ's $697,000 floor and $1.54 million ceiling is what separates Bitcoin's potential to replace gold as a means of exchange from its ability to function as a cultural store of value.
An opportunity is symbolized by one. The other option is a change in social norms.
The Sovereign Bottleneck
For positive outlook holders, this is the point where CZ's timeframe argument starts to fall apart.
According to a poll of central banks conducted by the World Gold Council in 2026, an overwhelming 93% of these institutions keep gold reserves.
In the next year, over half of them plan to increase their savings. An all-time high of 289 tons was reported in Q2 2026 for net purchases of gold by central banks, a 62% rise from the previous year.
US gold reserves currently stand at 8,133.5 metric tons, or almost $1.2 trillion at today's prices.
The government's Strategic Bitcoin Reserve presently holds about 198,000 BTC, valued at over $15.6 billion - a difference of nearly 80 times.
Where does Bitcoin fit in?
The Treasury did not acquire it; rather, it was seized by law enforcement.
Although it does not have the power to buy anything, the administration has issued an executive order banning sales.
There have been setbacks in the Senate about the proposed law that would allow the purchase of one million Bitcoins over five years.
CZ says that governments have painstakingly constructed valuation frameworks, custody arrangements, and reserve accounting around bullion over decades, but the real problem isn't with the item itself.
The $1 Million Signal
Even though some predict it will take 25 years, CZ is still confident that Bitcoin will reach $1 million.
He expressed his belief that Bitcoin will benefit from reaching the $1,000,000 threshold.
A million dollars is a huge sum of money.
Given the current supply, this points to a market capitalization of about $20 trillion, which is higher than the amount of gold accessible for investment but lower than the total amount of gold above ground.
As a result, the gold ETF and central bank reserve markets have been dominated by Bitcoin, while the industrial gold and jewelry markets have been mostly untouched.
The Real Risk: Not a Rival, But Time
The likelihood of another digital asset outperforming Bitcoin was considered "unlikely" by CZ.
Given its pioneering role among sovereigns and its fixed supply cap of 21 million, Bitcoin is the most logical choice for reserve status.
Nevertheless, there are substantial underlying risks.
Although annual increases to gold reserves are only 1-2%, the price of gold has risen sharply, driving up all parity targets.
Bitcoin, on the other hand, is trading below $80,000 after falling almost 37% from its October 2025 peak of near $126,000.
The validity of CZ's claim that state-backed wallets will choose Bitcoin over gold depends on the continued support of institutions that function more efficiently with legal agreements in place of social media updates.
The Mexican billionaire's position, the idea of a US Strategic Bitcoin Reserve, and the reality that 93% of central banks own gold all show how three separate elements can function together inside the same framework.
However, their movements are not coordinated.
Licensed to Shill: Taiwan’s Banks & AI Hardware Makers Could Fuel Asia’s Largest Stablecoin Corridor | Justin Wang, Capital Layer
Wang says manufacturers selling AI devices into Latin America are paying up to 11% in local transfer fees, the gap Capital Layer is betting stablecoins can close.
Leveraged crypto trading allows Australian investors to multiply their exposure to market movements without committing full capital upfront. However, the mechanisms behind leverage differ significantly depending on the platform you choose.
At a glance: Nexo Booster and Kraken Margin represent two distinct structural approaches: Nexo uses a credit-backed asset magnification system capped at 3x leverage, while Kraken provides up to 10x leverage through order-book margin extensions on Kraken Pro.
How Nexo Booster worksThe Nexo Booster is built on top of Nexo's collateralised credit line infrastructure. Rather than placing traditional margin orders on an order book, the Booster operates as an automated credit transaction.
When you start a Booster transaction, Nexo uses your existing crypto balance as collateral, issues an instant crypto credit line, and converts both your initial collateral and the borrowed funds into your chosen target asset in a single step.
Spot magnification: You own the resulting boosted crypto assets directly in your Booster Credit Line wallet, which continue to benefit from price appreciation.Long-only structure: The Booster is designed exclusively for buying and holding assets with leverage (going long). It cannot be used to short the market.Capped leverage: Leverage options range from 1.5x to 3.0x, keeping position risk contained compared to high-leverage derivatives.How Kraken Margin worksKraken Margin operates as a classic exchange-based margin extension built directly into the Kraken Pro trading interface.
Instead of borrowing a structured loan balance, you post collateral (fiat currency or supported crypto) to open leveraged position sizes against Kraken's order-book liquidity pool.
Bidirectional trading: Kraken allows traders to open both long positions (profiting from price increases) and short positions (profiting from price declines).Order book control: Traders can execute precise order types—including limit, stop-loss, and take-profit orders—directly against active market liquidity.Higher leverage cap: Australian users who meet regulatory requirements can access up to 10x leverage on major asset pairs like Bitcoin and Ethereum.Comparing costs and fee structuresUnderstanding how fees accrue is critical when managing leveraged positions over different holding periods.
Nexo Booster feesNexo charges a flat, upfront transaction fee based on the Loan-to-Value (LTV) ratio of the boosted transaction:
LTV under 50%: 1% upfront feeLTV 50%–60%: 2% upfront feeLTV 60% or higher: 3% upfront feeThe borrowed portion of the position accrues daily interest based on your Nexo Wealth Tier and overall credit line terms. Because fees are charged upfront, holding a Booster position for weeks or months does not incur recurring trade-extension charges beyond the standard loan interest.
Kraken Margin feesKraken uses an ongoing fee structure suited for shorter-term trades:
Opening fee: A spot trading fee (typically 0.16%–0.26% depending on volume) plus a margin opening fee (around 0.01%–0.05%).Rollover fee: A charge of roughly 0.01%–0.05% applied every 4 hours for as long as the position remains open.While Kraken's entry fees are low, the 4-hour rollover fee recurs six times per day, causing costs to steadily accumulate and making longer-term position holds progressively more expensive over time.
Important note: The Kraken figures above are based on publicly published information as of September 2026 and may change — see the disclaimer at the end of this article.
Frequently asked questions1. What is the maximum leverage available for Australian users?
Nexo Booster offers up to 3.0x leverage. Kraken Margin offers up to 10.0x leverage on select cryptocurrency pairs for eligible Australian clients.
2. Can I short crypto using Nexo Booster?
No. Nexo Booster is a long-only feature designed to magnify buying power on spot crypto holdings. If you want to open short positions, Kraken Margin supports short orders.
3. How do rollover fees affect long-term leveraged positions?
Rollover fees (such as Kraken's 4-hour charges) add up continuously while a trade is open. Over longer holding periods (weeks or months), recurring rollover fees can significantly erode profits. For longer holding horizons, upfront fee models combined with standard daily interest rates may offer more predictable costs.
4. Does Nexo support local AUD payment rails like Osko?
Yes. Nexo Australia's dedicated AUD account supports Osko, Australia's fast payment rail on the New Payments Platform (NPP), alongside standard bank transfers.
Fees, leverage limits and eligibility criteria shown are current as of September 2026 and may change; reaching a stated minimum or maximum may depend on eligibility criteria not met by all clients.
Kraken's fees, entity names, licensing details and eligibility criteria (including the Wholesale Investor thresholds) are Kraken's own published terms, provided for comparison only, and should be verified directly with Kraken before being relied on.
Any information or advice provided is general only and does not take into account your objectives, financial situation or needs. Consider whether a product is appropriate for you. Credit Line and Nexo Growth are available only to eligible clients and are subject to applicable terms, conditions and jurisdictional restrictions. Rates, fees, supported assets and other product features may vary over time and between products .Borrowing against digital assets involves substantial risk, and you may lose some or all of your digital assets if the value of your collateral falls or market conditions change. The price, value and liquidity of digital assets are highly volatile and subject to market risk. You could lose some or all of the value of your digital assets. Before making any decision whether to use a product, you should read the applicable Terms of Service and, where relevant, the Credit Guide, Product Disclosure Statement, Financial Services Guide and Target Market Determination available on the Nexo Australia website.
Nexo Australia Pty Ltd (ACN 667 513 073) is registered with AUSTRAC as a Virtual Asset Service Provider (Reg. No. DCE100843695-001). AUSTRAC registration is for AML/CTF purposes only and is not an endorsement.
Credit products which are regulated by the National Credit Code, are provided by Nexo Individual Loans Pty Ltd (ACN 695 724 737), serviced by Avgi Pty Ltd (ACN 682 656 202) under Australian Credit Licence 567308 and managed by Nexo Australia Pty Ltd (ACN 667 513 073) under Credit Representative Number 580430. Credit products which are not regulated by the National Credit Code are provided by Nexo Loans Pty Ltd (ACN 695 724 442) and managed by Nexo Australia Pty Ltd. Credit criteria, T&Cs, and fees and charges apply to all credit products.
Nexo Australia has also lodged an application with the Australian Securities and Investments Commission (ASIC) for an Australian Financial Services Licence (AFSL), which is currently pending determination. The regulatory framework for digital assets and crypto lending is evolving and may change. Regulatory changes may affect the Crypto Line, Nexo Growth and other products. You should obtain independent legal, financial and tax advice before entering into any transaction.
Selling your Bitcoin to cover a bill means giving up any upside if the price keeps climbing the moment after you sell. Crypto holders overseas have been working around that trade-off for years, and it's now available in Australia too — through Nexo’s Credit Line and Block Earner's Crypto-Backed Loans, both of which let you borrow against BTC, ETH, and other digital assets without selling them.
Both are regulated consumer credit products, but the way each is priced and structured is different enough that the choice isn't just about the headline rate. Here's how the two actually compare.
What being licensed actually means for youBoth Nexo's Credit Line and Block Earner's Crypto-Backed Loans are regulated under Australia's National Credit Code, and both providers are members of the Australian Financial Complaints Authority (AFCA) — so if a dispute can't be resolved directly, there's an independent, free complaints service either way.
In practice, that licensing means every loan on either platform has to pass a responsible-lending assessment before funds are released, which is a legal requirement.
The upside for borrowers is that this assessment is built around your collateral and financial position rather than the kind of deep credit-history review a bank runs for a secured personal loan, which is part of why approved applicants on either platform can typically get funded within hours rather than the days or weeks a traditional bank loan can take.
One credit line, or two separate loan productsNexo frames its Australian offering as a single Credit Line with two ways of using it — Smart and Standard — that differ in how collateral is managed.
Neither has a fixed end date: you open it once and can draw down, repay, and redraw indefinitely, with your credit limit adjusting automatically as your collateral value changes.
Block Earner instead runs two separate loan products. Its Line of Credit is a 12-month facility with no scheduled repayments, renewable by rollover, which requires signing a new loan agreement, and potentially a new rate.
Its Fixed Term loan runs for 3–5 years with mandatory monthly repayments and a rate locked for the term, more closely resembling a conventional personal loan.
Rates, fees, and loan sizeHere's how the rates, fees and loan sizes stack up across both platforms:
Nexo Smart Credit Line: 7.9%–16.9% p.a., as low as 0.9% under 20% LTV. No origination fee. Loan size US$50–US$2,000,000. Your actual rate depends on your Wealth Club tier and LTV band.Nexo Standard Credit Line: 9.9%–21.9% p.a., as low as 2.9% under 20% LTV. No origination fee. Loan size US$1,000–US$2,000,000. Your actual rate depends on your Wealth Club tier and LTV band.Block Earner Line of Credit: 9.50% flat, fixed for 12 months. 2% origination fee on the loan amount, also charged on redraws. Loan size $50–$5,000,000 AUD. Your actual rate depends on an individual credit assessment.Block Earner Fixed Term: 11.50% flat, fixed for 3–5 years. 2% origination fee on the loan amount. Loan size $3,000–$5,000,000 AUD. Your actual rate depends on an individual credit assessment.Nexo's rate moves with your Wealth Club tier and whether your LTV sits under 20% — so 0.9% is the best-case floor, and it's one that gets easier to reach the longer you stay with Nexo. However, repaying early within 45 days triggers additional interest for the remaining period (21.9% p.a. for Standard or 16.9% p.a. for Smart Credit Lines), a detail noted directly on the Credit Line Repayment screen.
Block Earner quotes a flat indicative rate per product, then adds a 2% origination fee on top — a cost that Nexo's Credit Line doesn't carry at all, whether you're opening it or drawing more later.
Important note: Block Earner's rates, fees and loan terms above are based on publicly published information as of September 2026 and may change. Confirm current terms directly with Block Earner for the latest up-to-date information.
Collateral: how much you can borrow, and against whatNexo's Smart Credit Line accepts BTC and ETH at up to 50% LTV, plus around a dozen other assets (XRP, SOL, BNB, ADA, LINK, DOGE, SUI, ENA, PEPE, TRX among them) at up to 30% LTV. Its Standard Credit Line caps LTV at 40% for BTC/ETH and 20% for other eligible assets.
Block Earner accepts a narrower set: BTC and WBTC at up to 50% LTV, ETH at up to 40% (50% on its Fixed Term product), and XRP at up to 25% — and only on the Line of Credit, since XRP isn't eligible collateral for Block Earner's Fixed Term loans at all.
If your collateral is anything other than BTC or ETH, Nexo's asset list gives you a lot more to work with. If you're specifically collateralising BTC or ETH, the LTV ceilings are close either way.
What happens if your collateral drops in valueOn Nexo's Standard Credit Line, an LTV above 60% triggers a formal default notice, with at least 30 days to add collateral or repay before anything is sold.
On its Smart Credit Line, you pre-authorise Nexo to sell only as much collateral as needed to bring your loan back to health once LTV passes 90%. It’s a lot more headroom before that threshold is ever reached in the first place.
Block Earner runs graduated health bands that differ by asset. For BTC/WBTC, LTV under 55% is "healthy," 60–64.9% triggers a repayment notice, and 65%+ triggers a 30-day default notice; ETH and XRP use different, lower thresholds again. If no action is taken within that 30-day window, Block Earner sells enough collateral to bring BTC/WBTC loans back down to 55% LTV.
RepaymentsNexo's Credit Line has no mandatory monthly repayment on either variant — repay whenever suits you, in crypto, stablecoins, or by bank transfer, and your available credit refreshes automatically once you do.
Block Earner's Line of Credit works the same way within its 12-month term, but its Fixed Term product requires monthly repayments for the life of the loan, with no early repayment fee if you want to close it sooner.
Which shape fits how you'd actually use itIf you want one facility that stays open indefinitely, scales up automatically as your collateral grows, and lets you hold a wider mix of assets as security, Nexo's Credit Line is built around exactly that.
If you specifically want a fixed multi-year term with predictable monthly installments — closer to how a conventional secured personal loan works — Block Earner's Fixed Term product is shaped for that instead.
Frequently asked questions1. Does my Nexo Credit Line ever expire or need to be renewed?
No — it stays open for as long as you want it. There's no term to reach and no rollover paperwork to sign. Block Earner's Line of Credit, by comparison, runs on a 12-month term and needs a new loan agreement to continue past that.
2. Will opening a Nexo Credit Line cost me anything upfront?
No origination fee applies to opening a Nexo Credit Line, and you only ever pay interest on the amount you've actually drawn. Block Earner charges a 2% origination fee to open a loan, and again each time you redraw additional funds.
3. What happens to my credit limit if my crypto goes up in value?
It increases automatically — Nexo recalculates your available credit as your collateral value rises, so you can simply request more funds without a new application. Redrawing on a Block Earner loan, by contrast, involves a fresh 2% origination fee on the redrawn amount.
4. Is there a minimum amount I need to borrow?
Nexo's minimum is $50 on the Smart Credit Line and $1,000 on Standard. Block Earner's Line of Credit also starts at $50, but its Fixed Term loan has a $3,000 minimum.
5. Can I mix different cryptocurrencies as collateral on either loan?
Yes on Nexo you can combine multiple eligible assets as collateral on one Credit Line and swap between them without closing it. Block Earner's Line of Credit also accepts multiple assets (BTC/WBTC, ETH, XRP), but its Fixed Term loan only accepts BTC and ETH.
Digital asset prices are highly volatile. Borrowing against digital assets involves substantial risk, and you may lose some or all of your collateral if its value falls or market conditions change. Approved applicants only — credit criteria, terms, fees and charges apply on both platforms.
Nexo's Credit Line is provided by Nexo Individual Loans Pty Ltd (personal clients) or Nexo Loans Pty Ltd (corporate clients), serviced under Australian Credit Licence 567308, and managed by Nexo Australia Pty Ltd as an authorised Credit Representative (CRN 580430). Nexo Australia is registered with AUSTRAC as a Virtual Asset Service Provider (Reg. No. DCE100843695-001); this registration is for AML/CTF purposes only and is not an endorsement.
This article is general information only and doesn't take into account your objectives, financial situation or needs. Rates, fees and product terms shown are as published by each provider as of September 2026 and are subject to change — confirm current figures directly with each provider before making a decision. Read the applicable Target Market Determination, Credit Guide and Terms and Conditions on each provider's website before borrowing.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
8 September 2026 | 10:33 Cronos says $9.19 million remains unrecovered after validators rolled back the Tectonic exploit and reversed most of the borrowed assets still recorded on the network.
Key Takeaways Inflated TONIC collateral enabled $120.4M borrowing. The rollback reversed about $111.2 million. $9.19 million left Cronos unrecovered. 10,961 blocks were removed from history. Services are still reconciling affected transactions. Cronos says the attacker borrowed $120.4 million According to Cronos’ post-mortem, an attacker manipulated collateral on the Tectonic lending protocol and borrowed $120.4 million across nine markets before validators halted the network on August 30.
Cronos had initially halted block production after the Tectonic exploit, when the scale of the incident was still based on early on-chain estimates. The post-mortem now separates the value borrowed, the value reversed on Cronos and the amount that left the network before the halt.
What happened to the borrowed assets
Figure What it represents $120.4M Total borrowed from nine Tectonic markets before the halt. $111.2M Value that had not left Cronos and was reversed by the rollback. $9.19M Value that left Cronos before the halt and remains unrecovered. 10,961 blocks Cronos history spanning 1 hour and 54 minutes that was discarded during the rollback. The response window explains why some funds escaped Cronos’ timeline shows how quickly the attack progressed. The attacker first deployed contracts and manipulated the price of TONIC. About 10 minutes later, the inflated collateral was used to borrow $120.4 million across nine markets.
The network team identified the malicious activity roughly 36 minutes after the attack began. Block production was halted later at block 90,907,150, but $9.19 million had already left Cronos by then. The amount remaining on the network could still be reversed; assets transferred beyond it could not.
Cronos resumed block production about 11 hours after the attack began, using the last pre-exploit block as the restored state.
https://t.co/h7gGiB0cw2
— Cronos Network (@CronosNetwork) September 8, 2026
How inflated TONIC collateral enabled the borrowing Tectonic lets users deposit collateral and borrow against its value. Cronos said the attacker drove up the price of TONIC, Tectonic’s thinly traded token, then used the inflated value as collateral.
A lending protocol calculates borrowing capacity from the reported value of a user’s collateral. If that price rises sharply, the position may appear able to support a much larger loan even when the underlying market cannot sustain the valuation.
By making TONIC appear more valuable to the protocol, the attacker increased the borrowing capacity of the position and withdrew liquid assets from nine lending markets. The $120.4 million figure refers to those borrowed assets, not to the market value of TONIC itself.
Mango Markets showed a similar collateral risk The structure has a precedent in the 2022 Mango Markets manipulation. According to the US Commodity Futures Trading Commission, the price of the thinly traded MNGO token rose more than thirteenfold during a 30-minute period. The artificially inflated value of the attacker’s positions was then used as collateral to withdraw more than $110 million in digital assets.
The two incidents were not identical. Mango involved manipulated MNGO spot and perpetual markets, while the Cronos account describes inflated TONIC collateral used within Tectonic’s lending markets. The shared risk is that a sharp move in a low-liquidity token can create borrowing power far beyond the amount that could be realized by selling that token in the open market.
The rollback reversed assets still on Cronos Validators rolled the chain back to block 90,896,188, the last block before the attack. The move reversed about $111.2 million that had not left Cronos and returned affected balances to their pre-exploit state.
A validator decision on Cronos cannot rewrite transactions that have already settled on another network. Cronos said the $9.19 million that left before the halt remains beyond the rollback’s reach, leaving recovery dependent on measures outside the chain restoration.
The response also reversed unrelated transactions The rollback removed 10,961 blocks from Cronos history, covering 1 hour and 54 minutes. Every transaction recorded during that period was reversed, including transactions unrelated to Tectonic.
Cronos said validators made the decision after weighing the finality users expect from a blockchain against the risk of leaving the borrowed assets under the attacker’s control. Restarting without restoring the earlier chain state would have left the position intact.
The important questions concern the price sources used for TONIC, the collateral and borrowing limits applied to low-liquidity assets, and the conditions under which borrowing can be paused.
Lending protocols can limit this type of exposure through several controls:
Conservative collateral factors that cap how much can be borrowed against volatile assets Asset-specific borrowing caps for low-liquidity tokens like TONIC Isolated markets that contain the damage to a single pool Circuit breakers that react to abnormal price movements No single control removes oracle-manipulation risk, but these measures can restrict how much value can be borrowed before a manipulated price is detected.
Confirmation of which safeguards were active, which ones failed and what will change would provide a clearer assessment of whether the same route could be used again. The rollback restored the chain state, but it did not by itself correct the conditions that allowed the borrowing.
What remains unresolved Block production has resumed, and Cronos says its explorer, public RPC endpoints, indexers and subgraphs are operating. The network is working with exchanges, bridges and other affected services to reconcile their records.
Cronos says users do not need to take action while that process continues. Cronos did not identify the attacker in its post-mortem or explain how the unrecovered $9.19 million may be recovered. The rollback resolved the assets still on Cronos; the remaining amount depends on tracing and recovering funds beyond the network’s control.
This article is for informational purposes only and does not constitute financial advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Cronos reversed nearly two hours of blockchain history following the Aug. 30 Tectonic exploit, restoring balances tied to about $111.2 million of the incident’s $120.4 million exposure.
Another $9.19 million had left the network before validators stopped block production and was therefore outside the scope of the rollback.
The Crypto.com-associated Layer 1 blockchain detailed its response in an incident review published Monday. According to Cronos, the exploit affected nine Tectonic lending markets and resulted in approximately $120.4 million being borrowed.
Cronos Returns Chain to Pre-Exploit Checkpoint Instead of continuing from where the network had been paused, validators resumed Cronos from block 90,896,188. Cronos described that height as the finalized checkpoint immediately preceding the exploit.
Restoring that earlier version of the ledger reversed changes associated with roughly $111.2 million in affected assets. However, the rollback was limited to activity recorded within the portion of the chain that was replaced.
By the time validators suspended the chain at block 90,907,150, assets worth $9.19 million had already been moved beyond Cronos. The outstanding amount represents 7.6% of the total value affected by the exploit.
Cronos said validators faced a choice between preserving the chain state recorded when block production stopped and recovering assets still exposed to the exploit. Continuing from the later state, according to the incident review, would have preserved the unauthorized borrowing rather than reversing it.
The recovery had consequences beyond the exploit itself. To restore the network to its pre-attack state, validators moved the chain back by 10,961 blocks, effectively reversing nearly two hours of blockchain history. That action also nullified activity processed within the reverted window, including transactions entirely unrelated to the Tectonic incident.
TONIC Price Manipulation Preceded $120.4M in Borrowing Cronos said the exploit began after new contracts were deployed and TONIC’s market price surged sharply. TONIC is Tectonic’s governance token, and its relatively thin liquidity allowed the price movement to substantially increase the apparent value of the collateral being used in the protocol.
Around 10 minutes after the manipulation began, the inflated collateral value was used to obtain approximately $120.4 million in loans across the affected markets.
Roughly 36 minutes into the incident, the unusual on-chain behavior came to Cronos’ attention. Validators subsequently paused the network, stopping new block production while the teams involved coordinated their response.
Block production remained offline for approximately 11 hours before Cronos resumed operation from the earlier finalized checkpoint.
Exchanges and Infrastructure Providers Reconcile Restored Chain Bringing the blockchain back online did not immediately resolve the disruption for platforms connected to Cronos. The network said it continues to coordinate with exchanges, cross-chain bridges, and other affected service providers as they reconcile their systems with the restored ledger.
For users, Cronos said no action is currently necessary. Its blockchain explorer is accessible again, while public RPC infrastructure, indexing services, and subgraphs are functioning.
Cronos’ incident review did not attribute the exploit to a named individual or group. It also left unresolved the ultimate recovery prospects for the $9.19 million that moved beyond the portion of blockchain history validators could reverse.
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.
The world's first Zcash spot ETF fund, ZCSH, has now opened options trading.
Grayscale officially announced in a statement that ZCSH, the world’s first Zcash spot ETF fund launched by the firm, has now opened options trading.
8 minutes ago
Binance Alpha 2.0 (CEX) now supports Robinhood Chain.
According to official announcements, Binance Alpha 2.0, a centralized exchange (CEX), now supports Robinhood Chain, enabling users to trade, deposit, and withdraw assets. Both limit and market orders are currently supported for USDT trading pairs. Additionally, the following tokens have been added to Binance Alpha 2.0: Cash Cat (CASHCAT), up (UP), Artificial Inu (AI), and Pons (PONS).
8 minutes ago
Tokenized stock BNC4 remains over 47% premium to its underlying stock BNC.
According to GMGN data, BSC-based tokenized stock BNC4 rose 13.66% in the past hour, currently trading at $7.36. Per BIT (bit.com) market data, US-listed stock BNC is priced at $5.15. The premium of the tokenized stock over its underlying equity has widened further. Note: 4Stock originated from the "stock meme" narrative launched by Four.meme. It first rolls out 4Stock underlying assets tied to equities, then allows the community to issue meme coins using these assets as liquidity pools. BNC4 is the first 4Stock tokenized stock, pegged 1:1 to BNC, the stock of the BNB treasury company. The meme coin "4Stock" corresponds to the BNC4 pool. BlockBeats reminds users that most meme coins have no practical use cases, are highly volatile, and investors should exercise caution.
8 minutes ago
Bitcoin briefly fell below $78,000.
According to HTX market data, Bitcoin briefly dipped below $78,000, now trading at $78,026, with a 1.69% drop over the past 24 hours.
8 minutes ago
US stocks opened, with the three major indices showing mixed performance.
According to market data from BIT (bit.com), U.S. stocks opened with the Dow Jones Industrial Average down 0.7%, the S&P 500 index slipping 0.1%, and the Nasdaq rising 0.08%. Qualcomm (QCOM.O) gained 5% after it struck a multi-generational product cooperation deal with Amazon (AMZN.O). Intel (INTC.O) climbed 6% amid reports that its CPUs will see another 10% price hike. ASML (ASML.O) added 3.8%, while TSMC (TSM.N) rose 2.4% as the two companies launched a high-numerical-aperture EUV photomask partnership.
8 minutes ago
Robinhood Chain’s mainnet has been live for 70 days, with total on-chain revenue reaching $42.58 million.
According to Yuqing Monitoring, Robinhood Chain has been live on its mainnet for 70 days, with total chain revenue reaching $42.58 million (17,171 ETH), averaging $608,000 per day. Robinhood takes 90% of the revenue, equivalent to 15,454 ETH (approximately $38.32 million). As the technical provider, Arbitrum collects a 10% cut, amounting to 1,716 ETH (roughly $4.26 million).
LlamaRisk proposed reserve-cap and interest-rate changes for Aave V3 on Sept. 7, responding to utilization, liquidity and borrower data across six deployments. Its Risk Stewards update recommends raising USDC, GHO, wstETH and USD₮0 limits while reducing underused syrupUSDC, USDe and syrupUSDT supply caps.
The plan also lifts the USDe base variable borrow rate by one percentage point on Aave V3 Core, Plasma, Monad, Mantle and Avalanche. LlamaRisk said it intends to implement the package through the Risk Steward process. That language makes this a dated risk-parameter action plan, not evidence that every proposed value was already active when the post appeared.
USDC and GHO caps would expand where demand is high On Aave V3 Core, the recommended USDC supply cap rises from 2.5 billion to 3 billion, while the borrow cap moves from 2.25 billion to 2.7 billion. LlamaRisk reported supply-cap utilization of 92.4% and borrow-cap utilization of 95.7% before the change, with debt growing faster than supply over the seven days through Sept. 7.
For Monad, the proposal increases GHO’s supply cap from 40 million to 60 million and its borrow cap from 36 million to 54 million. It also raises Prime’s wstETH supply cap from 62,000 to 80,000. On X Layer, where the report said USD₮0’s borrow cap was fully used, the recommended limit rises from 48 million to 90 million. BlockchainReporter previously covered Aave’s launch on X Layer, the deployment affected by that proposed expansion.
Three supply caps would shrink after balances fell The same review cuts limits where deposited balances have moved away from earlier capacity. Monad’s syrupUSDC supply cap would fall from 240 million to 150 million, and its USDe cap from 220 million to 150 million. Plasma’s syrupUSDT supply cap would be halved from 300 million to 150 million.
LlamaRisk said these reductions still leave headroom above current supply. It estimated post-change utilization at 67.8% for syrupUSDC, 60.6% for USDe and 75.2% for syrupUSDT. The distinction matters because a lower cap limits future deposits; it does not imply that existing positions are being removed.
USDe borrowing moves toward a higher base rate Across the five USDe markets, the recommended base variable rate rises from 4% to 5%, while Slope1 falls by one percentage point. Because the optimal-utilization settings remain unchanged, LlamaRisk said the liquidity share available at those thresholds would not change. Estimated borrow-rate increases at then-current utilization ranged from 17 basis points on Avalanche to 83 basis points on Mantle.
The review also tracked the effects of earlier USDe rate increases. It said Core borrowers reduced USDe debt by 38.8 million after the base reached 4%, with 7.7 million replaced by USDC or USDT borrowing from the same accounts. Plasma borrowers reduced USDe debt by 24.7 million, while only 0.4 million was re-borrowed in other stablecoins. Those observations explain the pricing change, but they remain a point-in-time assessment rather than a forecast of future borrower behavior.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
A Native Stablecoin for PolkadotThe @Polkadot Community Foundation has put forward a formal proposal for $dotUSD, a native decentralized stablecoin designed to operate directly within the Polkadot ecosystem. The move signals a growing push across major blockchain networks to reduce dependence on externally issued stablecoins such as USDT and USDC, which have historically dominated on-chain liquidity.
Under the proposed design, borrowers would mint $dotUSD against $DOT collateral while self-selecting their own interest rates, a mechanism borrowed from the architecture of Liquity Protocol v2. That model is built around user-set rates rather than governance-imposed or algorithmically controlled ones. As Liquity's own documentation describes it, borrowers become makers of their own interest rates, allowing a true rate market to emerge on-chain without centralized intervention.
Market-Discovered Rates and an Organic Yield CurveThe core innovation behind $dotUSD is its interest rate model. Rather than relying on a centralized oracle or protocol governance to set borrowing costs, the system would allow rates to be discovered organically through borrower behaviour. Liquity V2 enables borrowers to pick their own interest rates, with the expectation that the collective result mirrors true market conditions across DeFi over time.
Applied to Polkadot, this approach aims to establish a native on-chain yield curve for $DOT, moving away from rate-setting mechanisms that depend on external data sources. Borrowers who set lower rates face a higher risk of redemption, while those who set higher rates pay more but hold more stable positions. This self-correcting dynamic is intended to keep $dotUSD pegged without relying on centralised controls.
The proposal is at an early stage and no formal governance vote has been confirmed at the time of writing. But the introduction of a structured, Liquity v2-derived architecture suggests the @Polkadot Community Foundation is taking a considered approach to one of the more technically complex challenges in DeFi: building a sustainable, decentralized stablecoin backed entirely by a native network asset.
Sources:
Liquity: V2 as a De Facto Reference Rate for DeFi
The Block: Liquity V2 and User-Set Interest Rates
Hedera’s native token, HBAR, rebounded from a session low of $0.08008 and reached an intraday high of $0.08314, creating a 3.8% price range during the period. Buyers staged a late rally above the $0.082 mark before profit-taking caused a sell-off, after which HBAR recovered to $0.08273. This pattern suggests active demand close to $0.080, although short-term holders continue to take profits on upward moves.
HBAR price action hits resistance zoneCurrent market data shows HBAR’s market capitalization at $3.63 billion, with daily trading volume at $84.78 million. The circulating supply stands at approximately 43.83 billion HBAR, keeping the relative volume close to 2.3% of the total market cap. This level of activity supports ongoing trading, though it does not yet signal a definitive breakout scenario.
If HBAR can surpass the current session peak of $0.08314, it would mark a new local high and build on the recovery trend. Conversely, any sustained movement below the $0.08008 support could challenge the recent bullish momentum and expose the price to further declines.
Market analysts suggest that maintaining support near $0.080 remains critical for the strength of the current advance, while sellers continue to target the upper resistance between $0.083 and $0.084.
Trading range defines short-term outlookOn the four-hour chart, market analyst Kamran Asghar identified a defined trading zone between $0.080 as support and $0.082 as resistance. Recent activity has seen strong defense of support at the lower end, triggering another push toward resistance. Asghar’s projected trajectory shows the potential for a breakout above the $0.084 mark, although such a move would require a confirmed close above the red resistance line on the chart.
If HBAR breaks out above resistance and holds that level, a gain of approximately 1.5% from the current $0.08273 to $0.084 would be realized, potentially extending to 2.1% if the move reaches $0.0845. On the other hand, failure to break resistance could lock the token within its established range.
A sustained upside move would need increased trading volumes, as weak momentum could otherwise lead to a return to the established band.
As these levels are closely tracked, investors across both traditional and crypto markets are witnessing a broader transformation. While traditional markets rely on complex brokers, Wall Street is shifting toward Web3, with investors now able to hold tokenized shares of major US companies, gold, and silver directly in crypto wallets using platforms such as 1stepSwap. These platforms remove middlemen by automatically securing the best market prices for real-world assets within seconds, signaling a significant change in how both digital and physical assets are managed.
Comparison to late 2024 price structureTechnical analyst Crypflow’s weekly perspective compares current HBAR price action to its performance at the end of 2024. Both periods share a similar near-channel formation, with prices rebounding from the lower boundary. The previous pattern resulted in a breakout above the descending resistance, followed by a successful test of support and strengthening relative strength index (RSI).
HBAR remains under a long-term descending trendline, which continues to cap attempts at a stronger upward reversal. A weekly close above this level could offer stronger confirmation of a trend shift. Without such a close, the price remains confined to the channel and may face further tests from sellers aiming for lower support zones.
Key price levels watched for next moveImmediate support on the daily chart stands at $0.08008, with a secondary support zone at $0.0795. Current resistance is at $0.08314, above which the $0.084 to $0.0845 range becomes the next critical area. Despite the recent rebound, HBAR trades 85.47% below its all-time high of $0.57, highlighting the distance from its record levels.
Short-term momentum holds above $0.080, but confirmation of a more durable trend would require closes above $0.08314 and the ceiling seen in the four-hour band. Failure to maintain these advances could result in retreat to $0.081 or a renewed test of lower support at $0.0795. On a broader time frame, further progress will depend on stronger channel dynamics and a clearer upward signal in the RSI.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Anchored said its tokenized stocks went live through Uniswap on Arbitrum on Sept. 7, opening a new onchain route to public-market exposure. The company’s launch announcement identified Anchored as the issuer infrastructure, Arbitrum as the deployment network and Uniswap as the trading venue.
The announcement confirms availability but does not say that the tokens are shares themselves or that access is universal. Anchored’s product disclosures set narrower terms around backing, eligibility and legal rights, making the launch an infrastructure expansion rather than a replacement for conventional brokerage ownership.
According to Anchored’s official stock-product page, its tokenized stocks and exchange-traded funds are backed one-for-one by underlying assets held in regulated custody. The page says reserves are independently verified through a public proof-of-reserves process.
Anchored’s legal terms add an important distinction: the tokens are not the underlying shares or securities. Instead, the rights attached to each token are defined in the applicable governing documents. Offers are made through a gated application operated by Anchored Capital Ltd after onboarding and verification, not through the informational website itself.
Uniswap provides the onchain trading route By placing the products on Uniswap through Arbitrum, Anchored is connecting its issuance structure to decentralized liquidity and blockchain settlement. The company says its broader infrastructure is intended to connect assets, compliance, distribution and settlement, while integrating traditional financial platforms with decentralized protocols.
The launch fits a wider push by crypto platforms to package equity exposure for blockchain users, though structures differ materially between providers. BlockchainReporter has examined how crypto platforms approach U.S. stock exposure, including the distinction between products backed by securities and derivatives that only track their prices.
Eligibility and token-holder rights remain central Anchored says its products are intended for professional, accredited, sophisticated or otherwise qualified investors where applicable. They may not be available in every jurisdiction and are not directed at U.S. persons or people in mainland China. Prospective users therefore cannot infer eligibility simply because a pool is visible through an onchain interface.
The company also lists market, liquidity, counterparty and technology risks, including possible loss of capital. For readers assessing the Sept. 7 rollout, the key facts are that Uniswap access is live on Arbitrum and that Anchored claims one-for-one share backing; the exact holder rights, transfer conditions and availability still depend on governing documents and jurisdiction-specific checks.
AUTHOR
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.
Internet Computer [ICP] rose 14% at press time, as the cryptocurrency market remains in a recovery phase and demand continues to build.
Several reasons supported the price growth, especially when considering the on-chain activities in the market. However, off-chain, there’s a different scenario quietly playing out, hinting that a market decline could be around the corner.
On-chain linked growth One of the clearest signals that has influenced the price significantly has been the flow of capital into the stablecoin market.
DeFiLlama reported that during the past day, stablecoin liquidity surged significantly, with a gain of roughly 10% in the last seven days, bringing it towards $3.98 million as of writing.
Source: DeFiLlama The surge in stablecoins indicates that more capital is flowing into the chain, which ultimately increases utility for its native token, ICP.
At the same time, blockchain fees have grown, reaching a high of $9,210. While that remains broadly minimal in comparison to other chains, this remains one of the highest levels it has traded at in months.
Off-chain, traders are selling On-chain growth matters as much, but what traders and investors are doing could have more effect on price, and right now, sellers are gradually stepping in.
The presence is confirmed through the Open Interest-Weighted Funding Rate, which measures capital in the perpetual market in relation to long or short positions.
Source: CoinGlass In situations where longs are dominant, the Open Interest-Weighted Funding Rate remains positive, and when they aren’t, there’s a flip and the metric turns negative.
At the time of writing, the Open Interest-Weighted Funding Rate has flipped negative on the chart, with a reading of -0.0086% at the time of this writing.
This comes at a time when there has been a surge in capital inflow into the perpetual market, with CoinGlass reporting Open Interest surging 12% to roughly $103.46 million.
A surge in capital inflow at a time when short positions remain dominant could mean short traders are fueling their positions in the market, which could weigh on price notably.
Sellers’ volume remains a factor There’s been growth in sellers’ volume in the market, with the Taker Buy/Sell Ratio, otherwise known as the Long/Short Ratio, plummeting to roughly 0.87 on the chart as of writing.
When the ratio is below 1, it suggests that there’s been growing selling pressure in the market. When there’s a further decline, as is the case here, it implies that investors may consider the asset overvalued and are placing bids for a decline.
Source: CoinGlass For now, unless the Funding Rate turns positive and volume returns to support buyers, there’s a high chance that this could weigh on ICP’s performance, potentially forcing the asset lower.
Final Summary ICP has gained 14% as stablecoin liquidity and blockchain fees show signs of improving on-chain activity.
A negative Funding Rate and a 0.87 Taker Buy/Sell Ratio point to rising selling pressure.
Insurance Fund Mechanics Verified On-Chain@dominic_w, founder of the @dfinity Foundation, has confirmed the successful execution of Multi/Dex finance's insurance fund mechanics on the Internet Computer Protocol ($ICP). The confirmation came during the platform's ongoing "Play Mode" testing phase, which
During testing, rising platform prices triggered liquidations of short positions. The 5% penalties generated by those liquidations flowed directly into the protocol's insurance fund, a mechanism that The process was executed automatically and verifiably on-chain, with no manual intervention required.
Multi/Dex takes a similar approach, routing liquidation penalties directly into its fund within a fully decentralized architecture. This allows liquidity providers to capture real-time returns from market volatility without relying on a centralised counterparty.
What Multi/Dex Is and What Comes Next
Despite the simulated environment, the successful execution of the insurance fund mechanic is a meaningful technical milestone. It demonstrates that the core risk management layer of the protocol is functioning as designed before any real capital is at stake.
The confirmed performance of the insurance fund ahead of that vote strengthens the case for the platform's readiness for mainnet launch.
Sources:
Yahoo Finance: ICP Traders Pile $243 Million Into Multi/DEX
Multi/DEX Official Site
Arxiv: Mapping Microscopic and Systemic Risks in TradFi and DeFi (Insurance Fund Context)
According to official announcements, South Korean digital asset custodian BDACS has selected LayerZero’s OFT (Omnichain Fungible Token) standard as the cross-chain interoperability solution for its South Korean won stablecoin KRW1. KRW1 is South Korea’s first won-backed stablecoin, currently deployed on Ethereum, Avalanche, and Circle’s Arc network. With the OFT integration, KRW1 will achieve further native multi-chain expansion. LayerZero noted that the OFT standard currently covers over 170 blockchains, handles approximately 87% of cross-chain transfer volume, and has a cumulative transfer value of $280 billion. Adopting this standard, KRW1 will be burned or deducted on the source chain and minted on the destination chain during cross-chain transfers, maintaining a unified supply to prevent fragmented KRW1 liquidity across different chains. LayerZero’s cross-chain transfer application Stargate will execute these transfers. BDACS said the move will provide a technical foundation for KRW1 to expand beyond South Korea. In July 2026, South Korea released the "Won Internationalization Roadmap," which proposes amending the Foreign Exchange Transactions Act to establish a legal framework for won-denominated stablecoins, plus advancing measures like offshore won accounts and a 24-hour offshore won settlement network. BDACS added that KRW1 is currently fully backed by a 1:1 reserve of won held at Woori Bank and undergoes independent reserve attestation.
Avalanche Deployment Gains TractionAave's V4 deployment on Avalanche ($AVAX) has reached $20 million in deposits, according to Token Terminal, roughly doubling in size over the past month. The platform currently carries about $5 million in active loans, a sign that borrowing activity is beginning to build alongside the deposit growth.
The Avalanche deployment went live on July 15, 2026, marking the first time Aave had deployed its newest protocol version outside Ethereum, where earlier versions built most of its liquidity. Avalanche was chosen as the first expansion beyond Ethereum in part because of an established track record and a fast-growing ecosystem for tokenized real-world assets such as Treasuries and corporate bonds. The rollout was also backed by ecosystem incentives: Avalanche committed up to $15 million tied to key performance indicators including total value locked, borrowing activity, and protocol revenue growth.
A Broader V4 Expansion StoryThe Avalanche figures are one piece of a wider growth picture for Aave V4. Across all chains, V4 deposits surpassed $600 million in late August 2026, setting a new all-time high, according to data reported by ChainCatcher. That figure covers aggregate deposits across Ethereum's mainnet and several Layer 2 networks.
The V4 architecture underpinning these deployments differs meaningfully from its predecessor. Aave V4 replaces V3's market-per-pool structure with a hub-and-spoke design that consolidates liquidity while allowing individual markets to maintain separate borrowing rules and risk parameters. Despite the strong growth in V4, the newer version remains a fraction of its predecessor's scale, and Aave's decision to run V3 and V4 in parallel lets users migrate at their own pace rather than under deadline pressure.
Sources:
CoinPaprika: Aave Brings V4 to Avalanche in Bet on Tokenized-Asset Lending
Crypto Briefing: Aave V4 Deposits on Ethereum and Avalanche Reach $300M
ChainCatcher: Aave V4 Deposits Exceed $600 Million
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