South Korea will block domestic access to the websites of 27 unregistered overseas crypto exchanges, including KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BingX and BitMart, the Financial Intelligence Unit announced on Tuesday, according to eToday. The decision was made by the country's media and communications review commission at the FIU's request, following reviews on October 6 and 7.
Sites hosted on domestic servers will have their service terminated, while those on overseas servers will be blocked for users in Korea. The FIU said it will monitor operators that switch to new domains to get around the restrictions and will request further blocks where needed. It has also referred 44 unregistered virtual asset service providers to investigators.
The website blocks extend measures that began in app stores. In March 2025, at the FIU's request, Google Play restricted new installs and updates for 17 overseas exchange apps, including KuCoin, MEXC, Phemex and BitMart, and Apple later applied similar limits. Users who already had the apps or accessed the platforms through a browser were able to keep trading. Authorities can now order a block once unregistered operation is confirmed, without waiting for evidence of specific user harm or the outcome of an investigation, eToday reported.
Under Korea's Act on Reporting and Using Specified Financial Transaction Information, any virtual asset business that serves Korean users must obtain information security certification and register with the FIU. The rule applies to overseas operators that run Korean-language sites, market to Korean users or accept won payments. Operating without registration carries up to five years in prison or a fine of up to 50 million won. Only 28 operators are currently registered, and registered exchanges are barred from sending crypto to unregistered platforms.
The FIU is framing the action partly as a consumer cost issue. An industry survey in June found unregistered operators charged average fees of 1.5% to 10%, compared with 0.16% at the five largest won-based exchanges. Much of the offshore platforms' appeal to Korean users lies in products the domestic exchanges cannot offer, such as leveraged derivatives and early token listings.
Existing users who have trouble withdrawing funds will be given guidance through DAXA, the self-regulatory body of Korea's licensed exchanges. The FIU urged users of unregistered platforms to withdraw their assets immediately. Whether the blocks hold will depend on how quickly authorities can keep up with mirror domains and on how many users turn to VPNs, which the measures do not address.
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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South Korea Financial Intelligence Unit (FIU) disclosed that authorities had ordered a domestic access ban on 27 websites operated by unregistered overseas crypto exchange platforms, including KuCoin, MEXC, Phemex, BingX and BitMart. The move extends enforcement from app stores to websites, with the FIU warning that users could have difficulty accessing funds or making withdrawals.
The exchange ban targets unregistered crypto exchanges that regulators consider to be operating locally in South Korea. The FIU assesses that connection using factors including Korean-language websites, marketing aimed at Korean users and support for payments in won. The communications review body approved the requested measures following reviews held on October 6 and 7.
South Korea Orders Website Blocks on 27 Unregistered Overseas Crypto Exchanges, Including KuCoin, MEXC and BingX
South Korea's Financial Intelligence Unit (FIU) announced that the country's communications review authority has ordered domestic access restrictions on 27… pic.twitter.com/TWnze71oUY
— Wu Blockchain (@WuBlockchain) October 13, 2026 This is a new enforcement channel, not the start of the crackdown. The FIU had already asked Google and Apple to restrict new installations and updates of unregistered exchange apps; Google Play restricted 17 platforms, including KuCoin and MEXC, in March 2025.
The FIU says regulators will seek blocks after detecting unregistered activity, subject to the communications review body’s approval, without waiting for court rulings or confirmed user losses.
It also plans to pursue replacement websites if blocked platforms relaunch under new addresses. For exchanges, the test is whether their local-facing operations can continue when access routes are repeatedly closed.
The potential penalties add legal exposure to the operational restrictions: operating without registration can result in up to five years’ imprisonment or a fine of up to 50 million won.
This latest ban is part of a shift in South Korea crypto regulation, where website access, exchange, and app distribution are both enforcement levers. The country’s digital-asset policy has also developed on other fronts, including a review of Ripple’s Korea partnership with Meritz.
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South Korea Exchange Ban Aftermath and Withdrawal Risk The FIU urged customers holding assets on affected platforms to withdraw them immediately, while acknowledging that access blocks could make withdrawals harder. It plans to guide users through the Digital Asset eXchange Alliance (DAXA), the industry group involved in the response.
The warning makes the enforcement practical as well as legal: a blocked website can complicate access even when the underlying assets have not been seized.
Cost is another part of the regulator’s case. A June probe by DAXA and registered operators found that flagged exchanges charged average fees of 1.5% to 10%, compared with an average of 0.16% at South Korea’s five largest won-based exchanges. That puts the flagged rates as high as 62 times the domestic average.
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Tiger Research estimated that Korean investors paid foreign exchanges $3.5 billion in fees during 2025. Tiger Research and Chainalysis also estimated that approximately 700 trillion won moved from Korea to overseas exchanges between 2021 and 2026; the total includes a projection for 2026 and covers only traceable routes.
Those figures show the scale of offshore activity, but do not establish where affected users will move their assets next. Domestic financial-sector developments, including South Korea’s crypto-collateral debate, illustrate that enforcement is unfolding alongside other changes in the local market.
The FIU’s stated next steps are to seek further restrictions on replacement sites and to support affected users through DAXA if access or withdrawals become difficult. Whether traders return to registered domestic exchanges or move to on-chain venues remains an open question; the immediate test is whether the blocks disrupt withdrawals before users can transfer their holdings.
KuCoin Nigeria Limited has received conditional Approval-in-Principle (AIP) from Nigeria’s Securities and Exchange Commission (SEC Nigeria) for admission into the regulator’s Accelerated Regulatory Incubation Programme (ARIP), as the cryptocurrency exchange continues its efforts to meet regulatory requirements in key markets.
The approval represents a preliminary step in the regulatory process rather than a licence to operate. Under the conditions of the AIP, KuCoin Nigeria is not yet authorised to launch services, onboard customers or conduct business with the Nigerian public. The decision also does not constitute a final registration, endorsement or recommendation from SEC Nigeria.
As part of the application review, KuCoin Nigeria presented elements of its proposed trading platform and operational framework to the regulator. The demonstration included its planned products and services, fiat deposit and withdrawal arrangements, customer onboarding processes, technology infrastructure, and governance and risk management procedures.
The review forms part of KuCoin’s efforts to establish a regulatory framework for its proposed operations in Nigeria, a market the company identifies as significant for digital asset adoption and innovation.
KuCoin has also pursued regulatory authorisations and registrations in other jurisdictions. Its European entity, KuCoin EU, has obtained authorisation under the Markets in Crypto-Assets Regulation (MiCAR) to provide regulated crypto-asset services across the European Union. In Australia, the company operates through Axis One Markets Pty Ltd, which is registered with AUSTRAC as a digital currency exchange provider.
These regulatory arrangements apply exclusively to the respective entities and their permitted activities in each jurisdiction. Neither the European authorisation nor the Australian registration grants KuCoin Nigeria permission to provide services in Nigeria.
BC Wong, CEO of KuCoin, commented on the development:
“Receiving conditional Approval-in-Principle from SEC Nigeria marks another important milestone in KuCoin’s global compliance journey. As digital assets become an increasingly important part of the global financial system, trust must be built through continuously strengthening governance, maintaining high compliance standards and enhancing user protection. We value the opportunity to engage constructively with SEC Nigeria through ARIP and to continue building in line with Nigeria’s evolving regulatory framework. Our focus remains on strong governance, high compliance standards and meaningful user protection as we support the responsible and sustainable development of the digital asset ecosystem.”
The company said its regulatory strategy focuses on meeting local requirements while strengthening governance, transparency and user protection across its operations.
Following the conditional approval, KuCoin Nigeria remains subject to the applicable regulatory process before it can begin offering services to Nigerian customers. Meanwhile, KuCoin plans to continue working with regulators and industry participants across its markets, with an emphasis on operational resilience, compliance and risk management.
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KuCoin Nigeria has conditional SEC clearance, not a full licence. The regulator first identified KuCoin’s ARIP admission in July. Trading and customer onboarding remain restricted. Nigeria’s revised rules require ₦2 billion in capital for crypto exchanges. KuCoin Nigeria has confirmed conditional approval-in-principle from Nigeria’s Securities and Exchange Commission (SEC), advancing its regulatory application without obtaining permission to launch cryptocurrency trading services.
The company announced the development on October 13, describing its admission into the Accelerated Regulatory Incubation Programme (ARIP), which allows the regulator to evaluate digital asset businesses under controlled conditions.
However, the regulatory decision predates the announcement. The SEC publicly identified KuCoin Nigeria as an ARIP participant in July, making the latest disclosure more significant for its explanation of the company’s operating restrictions than for the approval itself.
The distinction matters for investors and prospective customers because regulatory admission does not necessarily mean an exchange can begin serving the public.
KuCoin’s Regulatory Status Dates Back to July On July 3, 2026, the Nigerian SEC published an official notice naming KuCoin Nigeria Limited and GIGX Technologies as two additional virtual asset service providers cleared for ARIP admission.
The regulator stated that both entities would receive approval-in-principle, allowing activities within the programme’s defined scope and subject to specific conditions.
Importantly, the SEC described that status as conditional rather than a final licence.
ARIP provides a supervised environment in which the regulator can assess emerging financial technologies, business models and investor protection arrangements before granting broader permissions.
For KuCoin, the October announcement provides additional detail about the restrictions attached to its proposed operations. It does not establish that the SEC issued a new, unrestricted authorisation this month.
Nigeria has also expanded ARIP beyond KuCoin. In August, the SEC cleared three additional providers, including BC Access (Nigeria) Limited and Yellow Card (YC) Financial Limited.
The expansion reflects a regulatory approach that brings digital asset firms into a supervised process while retaining control over which services they may ultimately offer.
What the SEC Still Needs to Review As part of its application, KuCoin Nigeria demonstrated elements of its proposed platform to the regulator.
According to the company, the demonstration covered customer onboarding, fiat deposits and withdrawals, technology infrastructure, governance and risk management.
These reviews are relevant because an exchange’s regulatory obligations extend beyond matching cryptocurrency buy and sell orders.
Customer identification systems must address financial crime risks, custody arrangements determine how client assets are protected, and fiat payment infrastructure introduces additional operational and compliance considerations.
KuCoin’s current conditions prevent its Nigerian entity from: Opening customer accounts or onboarding clients. Listing digital assets or enabling cryptocurrency trading. Offering peer-to-peer transactions. Processing fiat deposits and withdrawals. Holding customer assets or launching public-facing services. Proposed wallet structures, custody arrangements, fiat gateways and order-book-sharing mechanisms also require further examination and, where applicable, written clearance from the SEC.
The reference to order-book sharing is particularly relevant for an international exchange. Access to liquidity from an overseas trading platform could influence execution arrangements, but it would also raise questions about which legal entity executes transactions and which regulator oversees the relevant activity.
KuCoin has not disclosed a final approved operating structure for those services in Nigeria.
The SEC’s general ARIP framework permits activity within individually defined programme conditions. KuCoin’s specific disclosure, however, states that public operations cannot begin until applicable pre-commencement requirements and further written clearances have been satisfied.
Nigeria’s Higher Capital Requirements Raise the Stakes The regulatory process also takes place against a more demanding financial framework for digital asset businesses.
In a January 16, 2026 circular, Nigeria’s SEC increased the minimum capital requirement for digital asset exchanges from ₦500 million to ₦2 billion.
Digital asset custodians face the same revised ₦2 billion threshold, while digital asset intermediaries have a separate ₦500 million requirement.
Affected entities must comply by June 30, 2027, although the regulator may consider transitional arrangements on a case-by-case basis.
These requirements are relevant to KuCoin’s proposed expansion, but the precise obligations depend on the activities and regulatory classifications ultimately approved for its Nigerian entity.
The company has not established in its October announcement that it has completed every capital, operational or supervisory requirement necessary for full registration.
Higher capital thresholds also change the economics of market entry. Firms must demonstrate sufficient financial resources alongside the technology and compliance systems needed to operate.
For exchanges planning to combine trading, custody and local payment services, the regulatory classification of each activity can therefore affect both the cost and structure of their business.
Overseas Licences Do Not Cover Nigerian Operations KuCoin also highlighted its regulatory position in other jurisdictions.
According to the company, KuCoin EU holds authorisation under Europe’s Markets in Crypto-Assets Regulation (MiCA), while its Australian business operates through Axis One Markets Pty Ltd, which is registered with AUSTRAC as a digital currency exchange provider.
Those registrations and authorisations apply to their respective legal entities and permitted activities.
They cannot be transferred automatically to KuCoin Nigeria.
For Nigerian customers, KuCoin’s overseas authorisations do not determine which services its local subsidiary can legally offer. Products available through KuCoin’s international platform are not necessarily approved for its Nigerian subsidiary, even when the exchange shares a brand, technology infrastructure or liquidity arrangements across markets.
The company has acknowledged that proposed Nigerian products and services remain subject to local regulatory requirements.
Its international regulatory footprint may demonstrate experience operating under different supervisory regimes, but it does not replace the SEC’s assessment of the Nigerian entity.
What Comes Next for KuCoin Nigeria? The next meaningful development would be written SEC clearance for specified services or confirmation that KuCoin Nigeria has satisfied the conditions necessary to advance toward formal registration.
The regulator may still need to assess the company’s proposed custody arrangements, trading infrastructure, customer protection measures and payment integrations.
Any subsequent permission should be evaluated according to its scope. Authorisation for one activity would not automatically establish approval for every product available through KuCoin’s global platform.
ARIP admission also does not guarantee that formal registration will ultimately be granted.
For KuCoin, the commercial significance of the process will become clearer when the SEC specifies which services its Nigerian subsidiary can provide and under what conditions.
Until then, the October announcement represents progress through regulatory supervision rather than the opening of a fully operational Nigerian cryptocurrency exchange.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Zcash (ZEC) experienced a sharp 8.5% decline during a volatile Monday trading session, compounding losses that have left the privacy-focused cryptocurrency trading approximately 26% below its September high. After closing at $1,653.12 on September 26, ZEC slipped to around $1,167 on Monday and partially recovered to $1,215 by October 13, yet remains far from recent peak levels.
Leveraged liquidations deepen Zcash lossesThe latest downturn came amid widespread weakness in digital assets, triggered by Bitcoin‘s drop toward $81,000 and cautious positioning by traders ahead of new U.S. inflation data. Leveraged investors, particularly those using derivatives, were forced to close out positions as price drops accelerated liquidations totaling $19.9 million in a short period.
Zcash has seen substantial speculative activity, with derivatives trading volume topping $5.46 billion in just 24 hours. While such high volumes can amplify volatility, traders relying on borrowed funds are often vulnerable to steep reversals during sharp sell-offs.
Zcash derivatives trading surged to $5.46 billion in a single day, intensifying volatility as margin calls triggered rapid liquidations and drove price declines.
As traders reassess market risk, attention has shifted to key technical support zones. Binance’s historical pricing data shows ZEC temporarily traded near $1,124 on October 13, putting the $1,100-$1,125 range in focus for potential stabilization. A decisive move below this region would expose the critical $1,000 level, while a rebound toward $1,300 could signal a return to the early October trading range.
DateZEC PriceSupport/Resistance ZoneSeptember 26$1,653.12PeakOctober 13$1,124-$1,215SupportOctober (Early)$1,300Possible ResistanceCurrent$1,167Potential SupportDespite the latest correction, Zcash continues to trade well above levels seen at the start of 2026. However, the recent speed of its decline highlights the risks of speculative momentum in volatile cryptocurrency markets.
NU7 upgrade and future outlookThe current pullback serves as a backdrop to Zcash’s upcoming NU7 upgrade, a significant development for the network. The Zcash Foundation, an organization guiding the evolution of the Zcash protocol, has begun testnet preparations for NU7. This upgrade proposes reducing average block spacing from 75 seconds to 25 seconds, a move intended to improve transaction throughput.
Alongside block interval changes, NU7 would introduce new fee structures and mechanisms aimed at increasing network sustainability. A mainnet activation decision is expected by October 20, with plans for a November 5 deployment if approved.
Mini dictionary: Zcash Foundation, a nonprofit organization, supports the development and maintenance of the Zcash network and its privacy technologies. Zcash employs zero-knowledge proofs known as zk-SNARKs, offering users the option of shielded or transparent transactions.
Market participants are closely monitoring these technical changes, viewing them as potential catalysts that could influence Zcash’s price direction in the coming weeks.
Asian semiconductor stocks tumbled early this week, triggering roughly $800 million in leveraged crypto liquidations, with perpetual futures on SanDisk recording more forced closures than those on XRP.
The selloff, concentrated in South Korean names, illustrated how crypto venues have become venues for leveraged bets on traditional chip equities.
Data from multiple exchanges showed about $803 million in positions liquidated over 24 hours, with bullish longs accounting for roughly 86 percent of the total.
Bitcoin and ether led the losses, but stock-linked contracts ranked high as well. SanDisk perpetuals saw about $19 million liquidated, edging out XRP and nearly matching another token.
Contracts on SK Hynix, Micron, and the triple-leveraged semiconductor ETF SOXL also appeared among the liquidations.
The pressure aligned with sharp declines in Seoul: Samsung Electronics and SK Hynix each fell around 8 percent amid concerns over AI-related valuations and competition from Chinese memory makers, while the Kospi dropped more than 6 percent.
Bitcoin briefly traded under $81,000 during Asian hours before recovering above $83,000, at which point short positions began to account for the majority of newer liquidations.
The episode underscores the growing overlap between crypto derivatives and traditional tech equities.
Traders can now hold continuous, leveraged exposure to individual chip stocks on crypto platforms without expiry dates, concentrating risk when regional equity markets move sharply.
Separately, SWI Group raised €800 million (approximately $894 million) from institutional investors at a €6.1 billion valuation to convert former FTX-linked bitcoin miner Genesis Digital Assets into AI and high-performance computing infrastructure.
The Amsterdam-listed digital infrastructure firm, which took control of the miner this year, plans to rebrand the unit SWI Digital and repurpose its US and Swedish sites while divesting remaining Kazakh mining locations.
Combined with its European AiOnX platform, the group now controls roughly 3.6 gigawatts of grid-connected capacity, including more than 1.3 gigawatts from the Genesis portfolio across about 15 facilities.
Genesis Digital had received substantial investment from Alameda Research during the FTX era.
SWI’s founder and CEO has stated he has zero interest in continuing bitcoin mining and intends to market the power connections and sites to hyperscale cloud providers.
The move reflects a broader shift among former miners toward AI workloads, where electricity access and data-center capacity command higher returns than hashrate alone.
The capital will support power infrastructure upgrades and compute deployments across Europe and the United States.
In more concerning hardware wallet news, OneKey terminated its reseller relationship with CryptoBilis and offered free replacements for eligible devices after Ledger confirmed an unauthorized hardware implant in at least one affected unit sold through the Southeast Asian distributor.
Ledger stated that all confirmed cases in a wave of reported fund losses involved devices purchased via CryptoBilis, while its own systems and direct sales channels remained unaffected.
On-chain estimates of total losses have ranged above $86 million across multiple chains, though Ledger has not verified a precise figure.
OneKey reported no related losses among its users but ended CryptoBilis’s authorization, paused new reseller approvals, and began reviewing its entire existing network.
The company will replace any OneKey device bought from CryptoBilis between March 1 and October 12, 2026, whether activated or unopened, with applications accepted through the end of December.
Buyers are advised to move any held assets to a fresh recovery phrase if they have already set up a device from the channel.
The incident has raised questions about supply-chain controls for hardware wallets distributed through third-party resellers.
In adjacent AI developments, Palantir’s head of UK and European markets, Louis Mosley, warned that Europe risks repeating its earlier failure to capture value from the internet boom.
Speaking in an interview, he noted that the United States built major digital businesses and became the backbone of the online economy while Europe largely missed the opportunity.
He argued the two regions were roughly comparable two decades ago on measures such as GDP per capita and capital-market depth, after which US growth compounded and Europe advanced more slowly. ASML stands as a rare European technology champion from that era.
Mosley described European companies as largely taking a cautious, wait-and-see stance on enterprise AI, while US firms move more aggressively.
He positioned AI as even more consequential than prior technology waves and characterized Palantir as a public-market proxy for the pace of adoption, citing the company’s ability to deploy models from multiple providers on customer data.
The comments come amid ongoing debate in Europe over the company’s government and defense contracts, which Mosley has linked in part to political controversy that can overshadow discussions of productivity gains.
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.
Daily UNI burns for Uniswap on Robinhood Chain have fallen to about 4,000 tokens, while multi-chain burns sit at 12,000 to 14,000, pointing to weaker trading activity.
Daily $UNI burns for Uniswap (@Uniswap) have dropped sharply, with activity on Robinhood Chain falling to its lowest level since the burn mechanism went live there.
Across various blockchains, daily burns of the Uniswap token are now around 12,000 to 14,000, according to Defioasis. On Robinhood (@RobinhoodCrypto) Chain, the latest data shows only around 4,000 daily burns. Daily burns were above 150,000 UNI at the start of September before falling off.
From record burn to record lowThe slide follows a peak earlier in the autumn. Bitcoin(.)com reported that Robinhood Chain cleared $3 billion in daily decentralized exchange volume for the first time on Sept. 4, and Uniswap burned a record $1.15 million of UNI as a result. According to the same report, 184,000 UNI were burned that day, with about 150,000 tied to Robinhood Chain. It was the first time the daily burn crossed $1 million in dollar terms and the second-largest by token count since the mechanism went live.
Since then, burns on the network have faded. Bitcoinhaber reports that daily burns on Robinhood Chain stayed below 20,000 UNI through most of September, before reaching only a few thousand in recent days. The same report says combined daily burns across networks peaked at close to 190,000 UNI, with Ethereum, Base, Arbitrum and Robinhood Chain each contributing at different points in the year.
The decrease indicates that trading activity on Robinhood Chain is waning.
Why burns track trading volumeUNI burns are tied directly to protocol fees. Uniswap governance approved the UNIfication proposal on Christmas Day 2025, which activated the protocol fee switch. According to DL News, the fee switch sends revenue to a smart contract known as the token jar, and anyone who burns UNI through a contract called the fire pit can withdraw an equivalent amount of crypto from it. Bitcoin(.)com notes that the size of each day's burn has tracked how much volume runs through Uniswap's pools. Lower trading volume therefore means lower fee accrual and fewer burns.
For UNI holders, slower burns mean a slower reduction in supply. Daily burn totals remain a useful gauge of on-chain demand for Uniswap, and the current readings suggest activity on Robinhood Chain has cooled well below its early-September levels.
SourcesBitcoin(.)com: Robinhood Chain Tops $3B Daily DEX Volume, Pushes UNI Burn Past $1M
DL News: Uniswap DAO to activate fee switch, burn almost $600m UNI token
After two weeks of consistent losses, Uniswap’s [UNI] retail traders are starting to flock to the network. At the same time, outflows from the exchanges have tripled to 6.5K UNI over the last 24 hours.
All the above positive development comes at a crucial time, occurring while the token is testing an area of demand at around $6.80. The bullish pressure from the increasing retail traders is already starting to show on the daily chart.
The token’s price action is positively reacting to the demand. As a result, Uniswap’s prices are gaining some bullish momentum.
Could the positive technical paired with the developing on-chain initiate a reversal ahead of the CME plan to add Futures trading on Uniswap on October 19? Or will sellers have their say this time round?
Source: TradingView Is retail demand returning to UNI? The growing activity on Uniswap implies that the participants might be seeing the dips in UNI’s price as a buying chance. But it must also be remembered that it does not necessarily mean that the bulls have taken the charge.
The most important thing is if this interest will lead to the demand on the Spot level that will be strong enough to offset the selling pressure in the $6.80 zone of demand.
Source: CryptoQuant Can rising exchange outflows ease selling pressure? On the derivative data, UNI’s average outflows from exchange have tripled to 6,500 tokens over the past 24 hours. Uniswap’s skyrocketing exchange outflows suggests that holders are moving tokens away from trading platforms.
This potentially reduces the amount immediately available for sale. So,the reducing supply could amplify the current bullish momentum.
Source: CryptoQuant Will the CME listing support a reversal? CME Group will launch standard and Micro UNI Futures on the 19th of October, pending regulatory approval. The contracts would provide new tools for traders to hedge against the price changes of UNI.
The upcoming listing can contribute to positive sentiment due to UNI getting listed in regulated derivative markets. However, the news will not ensure any new Spot interest, as traders can modify their positions ahead of it.
At the moment, $6.80 is the crucial level to pay attention to. If the demand zone is defended, coupled with the outflows from the exchange and higher buy interest, the price can recover.
In case of the breakdown by sellers, the recent developments in on-chain activity might not be enough to avoid more losses.
Final Summary UNI is testing the $6.80 demand zone after two weeks of losses, while rising retail participation hints at renewed interest from traders. Exchange outflows have tripled to 6,500 UNI in 24 hours ahead of CME’s planned Futures launch.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
NEAR just set a new record in the futures market. Open interest in NEAR contracts hit $1.92 billion on October 12, according to Coinglass data. That is the highest level ever for the token. At that moment, NEAR was trading at $5.88.
The size of this jump is hard to miss. In July and August, open interest sat between $300 million and $450 million. It started to climb in mid-September and passed $1 billion within days. In approximately two months, traders have put roughly four times more money into NEAR futures.
Near's explosive rallyPrice followed the same path. NEAR rose from around $1.60 in August to nearly $6.00. The daily chart shows the coin trading far above its moving averages. The black line, which tracks the long-term trend, is near $2.55, and the price is about double that.
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NEAR/USDT Chart by TradingViewBut the record came with a warning. NEAR touched $6.00 and then fell hard. The current daily candle is red, with the price now near $5.07. Open interest also dropped from its peak and now sits closer to $1.5 billion. That means many traders closed positions or were forced out during the drop.
This is the danger of high open interest. When many traders use borrowed money, a sharp move in either direction can trigger a chain of forced selling. The fall from $5.88 to $5.07 looks like that kind of flush.
Mixed signalsThe RSI was above 75 in late September, which confirmed the rally was overheated. It has cooled to approximately 55, so the market is no longer stretched. Trading volume has also decreased in October, which suggests less excitement than during the September breakout.
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The key levels are clear. On the downside, the green moving average near $4.60 is the first support, and the low from last week near $4.30 is the next one. A break below those would open a path toward $3.90. On the upside, buyers need to push back above $5.50 to try another run at $6.00.
For now, NEAR has strong momentum and record interest from traders. But a record in open interest does not guarantee more gains. It shows that many people are betting on the coin, and that could push the price either way.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The US Federal Reserve's hawkish rhetoric triggered a large-scale capital outflow from the digital asset industry, but the artificial intelligence (AI) sector managed to turn the general panic into a local rally. According to a fresh report from market maker Wintermute, the main beneficiary of the shift in market sentiment was the Near Protocol (NEAR), which effectively took the AI-segment leadership crown amid falling key tokens.
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The published minutes of the Fed meeting confirmed that most officials expect another rate hike before the end of the year, pushing the yield on 10-year US government bonds to a multi-year high of 5.24%. Market reactions were polarized: the S&P 500 index hit a record high (+1.2% for the week), as growth in expected corporate earnings (+29% y/y) fully offset the high borrowing rate.
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Cross-asset performance ranking matrix showing digital assets underperforming traditional markets during Week 41, Source: WintermuteThe crypto market, lacking similar fundamental support, saw weekly outflows of $679 million from spot Bitcoin ETFs (the highest since June) and $542 million from Ethereum ETFs, while CoinGlass recorded forced liquidations of $1.19 billion ($1.06 billion of them longs). Bitcoin dropped 3.2% (to $83k), while Ethereum plunged 7.0% due to a reputational shock: an Ethereum Foundation researcher publicly urged users to migrate to new addresses immediately.
But the largest damage was done elsewhere.
The market's new favorite. How NEAR ignored the general stormThe main blow fell on the altcoin sector, where the median decline was 3.7% and the recent leader UNI collapsed by 15.8%. Of the 66 largest projects, only 11 closed in the green.
However, this crisis exposed an important trend: investors did not flee to fiat but changed narratives. Capital leaving classic DeFi platforms began actively flowing into tokens tied to artificial intelligence technologies.
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Near became the absolute leader of the movement. Historically positioned as an AI-oriented blockchain, the project effectively ignored the market storm and, after a symbolic dip, claimed leadership in the sector, continuing its aggressive growth.
Wintermute highlights two key drivers of this momentum: a technological news event (the network introduced support for post-quantum digital signatures to strengthen security) and market mechanics. Bears tried to short NEAR out of inertia along with the rest of the market, which triggered a powerful short squeeze: the forced buyback of short positions only accelerated the token's surge.
Why now is not the time to take risksUntil US government bond yields stabilize and net inflows return to Bitcoin ETFs, Wintermute considers buying altcoins on rebounds an unjustified risk. Attention is shifting to fresh US inflation (CPI) data and the financial reports of tech giants, which will determine whether the global AI trend continues to provide the industry with liquidity.
The founder of Avalanche believes that the crypto industry is too focused on a potential break of cryptography. According to him, artificial intelligence could first exploit the vulnerabilities already present in software and wallets.
In Brief
Emin Gün Sirer considers the debate on AI and crypto security largely exaggerated and points first to software bugs.
He believes that the code of Ripple and other networks might hide vulnerabilities that AI will detect more easily than humans.
No specific vulnerability has been reported in this debate, launched on October 7 by researcher Justin Drake.
The AI Threat Revives the Debate on Ethereum Security
The debate gained momentum on October 7, when Justin Drake, a researcher at the Ethereum Foundation, called on the industry to prepare a “bunker mode”. He specifically recommends transferring funds to never-before-used addresses, to keep public keys hidden behind a hash function.
His concern involves ECDSA, the signature mechanism used by many wallets. According to his scenario, the accelerated mathematical progress driven by AI could weaken this system within a few months, rather than over several years.
This hypothesis has sparked mixed reactions. Yehuda Lindell of Coinbase sharply criticized this perspective, while the technical director of Ledger highlighted the risks linked to a hasty migration. Vitalik Buterin acknowledged the existence of a serious risk without calling for urgent action.
Emin Gün Sirer Focuses First on Software Vulnerabilities
On October 9, the founder of Avalanche took a stand on X. “The debate on the threat AI poses to crypto is largely just talk,” he writes. In his view, AI will find flaws in existing systems long before breaking ECDSA. These vulnerabilities could allow attackers to steal billions of dollars from software libraries and wallets.
Sirer notably cites Ripple and other networks that hold significant value without undergoing thorough code review. According to him, believing that no flaw hard to detect by humans escapes developers is an illusion. AI could precisely facilitate discovering these vulnerabilities, sometimes unknown to publishers and exploited before their fixes.
Nevertheless, Sirer does not completely dismiss the cryptographic risk. He considers it appropriate to prepare backup solutions and indicates that Avalanche is exploring alternatives based on hashing. However, he believes securing existing code should come first.
Recent incidents reinforce his argument. The crypto sector lost 766 million dollars in September. Moreover, a security team demonstrated this summer that AI could detect 85 critical vulnerabilities.
Cryptography or Bugs: Two Risks to Anticipate
These two threats remain distinct. A break of ECDSA would potentially compromise the security of many cryptographic keys. In contrast, software vulnerabilities already expose users to attacks, without waiting for a mathematical breakthrough.
The issue also concerns Bitcoin: over six million bitcoins would rely on already visible public keys, representing more than 31% of the circulating supply. The migration recommended by Drake aims to reduce this exposure but does not resolve software vulnerabilities.
The debate therefore remains open. While awaiting potential breakthroughs capable of weakening cryptographic signatures, developers must also strengthen the systems that protect funds. To delve into these issues, find Cointribune articles dedicated to artificial intelligence.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Axiym’s stablecoin payment volume on Avalanche has grown 4.4 times over the past year, climbing to more than $2 billion.
What Axiym actually does
Axiym is a Dubai-based liquidity-as-a-service platform. Its customers are licensed money services businesses, or MSBs, the companies that move remittances and business payments across borders.
Those firms have long lived with something called pre-funding. Picture a remittance company that wants to pay out in a dozen countries. It typically has to park cash in local accounts in each one ahead of time, just in case customers send money there.
Axiym’s model removes that requirement. Running on Avalanche’s C-Chain and using stablecoins as settlement rails, the platform lets MSBs operate with far less working capital tied up. According to the research findings, that means 70-90% less capital lockup.
CEO Khibar Rassul has framed the value in those terms: Axiym unlocks capital that was previously trapped in pre-funding.
The growth curve so far
By April 2025, Axiym had processed $132 million in cumulative volume on Avalanche.
A year later the picture looked very different. The platform had crossed $1.2 billion in volume in under a year by April 2026.
By August 2026, processed volume exceeded $1.6 billion. A September 2026 case study then reported more than $1.43 billion processed during Axiym’s first year on the network.
The latest figure puts stablecoin payment volume above $2 billion, reflecting the 4.4x jump over the past year.
Monthly activity has also held up. Stablecoin payment volumes have stayed above $130 million every month since January 2026, with some months topping $170 million and peaks reported as high as $180 million.
The network behind it
Axiym integrates with established payment networks, and its partners process over $25 billion annually across more than 150 countries. Those partners handle somewhere between 60 and 96 currencies, depending on the figure cited.
Why stablecoins fit this problem
Stablecoins are tokens pegged to a currency like the US dollar, and they can settle on a blockchain within minutes at any hour. For an MSB, faster settlement means less money needs to sit in limbo. If settlement is quick and predictable, the need to pre-stock accounts around the world shrinks dramatically.
What this means
For the payments industry, Axiym is a test case for whether liquidity-as-a-service can meaningfully change how MSBs manage cash. Cutting capital lockup by 70-90% would let firms enter more corridors without raising more money.
There are open questions worth watching. The first is whether the growth rate holds as the base gets larger, since 4.4x is easier from a few hundred million than from several billion.
The second is regulatory. MSBs are heavily supervised, and any shift in how authorities treat stablecoin settlement across jurisdictions could speed up or slow down adoption of models like Axiym’s.
The third is concentration. Much of the pitch depends on stablecoins staying stable and liquid, so the reliability of those underlying tokens is effectively part of Axiym’s product.
For now, the trajectory is clear enough. A platform that measured its cumulative volume at $132 million in April 2025 is now reporting stablecoin payments above $2 billion, built on the unglamorous but valuable task of freeing up trapped cash.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Solana [SOL] price has been riding a giant wheel since the start of 2026. After trading near $146 in January, the altcoin has now dropped to $108.30 at press time. This happened after a 3.5% drop in the past 24 hours but a 13% drop in the year so far.
After briefly attempting to move above the neutral 50 level, the RSI has turned lower again, indicating that sellers remain in control. And adding fuel to the fire, the Bollinger Bands indicator was also seen narrowing after a bulging out a few days ago.
Source: Trading View
Decoding SkyAI’s Solana sell-off
Notably, SOL’s price dip coincided with SkyAI facing pressure after selling a significant portion of its Solana holdings at a loss.
According to Lookonchain data, the 4th largest SOL DAT reportedly held 2 million SOL worth $214 million initially. However, over the past two days, the firm sold off 1 million SOL worth approximately $107 million.
In fact, over the course of October so far, they have moved 1.57 million SOL out of their total holdings.
Source: Arkham
So, given the average purchase price of about $194 per SOL, SkyAI’s SOL position is currently sitting on unrealized losses exceeding $160 million.
What’s behind this sell-off?
The sell-off does not necessarily reflect a loss of confidence in Solana. But, rather, SkyAI plans to launch a tender offer to buy back up to 95% of each class of its outstanding shares and warrants at $3 per share in cash.
The offer represents a 65% premium to its 9th October closing share price and more than a 100% premium to its 60-day volume-weighted average price.
Expected to begin around the 15th of October and run for ten business days, the offer requires at least 50% of each class to be tendered and SOL to remain above $100 during the offer period.
SkyAI believes that the buyback will help optimize its capital structure while allowing investors to exit or retain their investments as it pursues its agentic AI financial platform strategy.
SOL DATs and ETFs ignite hope
Yet, despite this, the cumulative SOL DAT is not bleak, as it has seen a hike of 6.9% at the time of reporting, suggesting that hope remains.
However, with Solana ETF flows turning sharply negative in October, fear remains.
Source: SoSo Value
Nonetheless, with AMBCrypto’s recent report around Solana’s September rally, there is a possibility that SOL could set the stage for further gains in Q4.
Therefore, as of now traders must currently keep an eye on the key price level, which is $115. If SOL manages to surpass this level, buyers could regain control of the market
Final Summary
SOL price action suggests caution, as it saw a 3.5% drop in the past 24 hours.
This comes as SkyAI faces pressure after selling a significant portion of its Solana holdings at a loss.
Solana climbed above $107 on Tuesday, showing signs of stabilization after falling the previous day. The upward move came as buyers targeted the 50-day exponential moving average, a commonly watched technical level for the cryptocurrency.
Second spot Solana ETF launches in Hong KongOn Monday, Solana announced that the Pando Solana ETF would debut on the Hong Kong Stock Exchange the following day. This product becomes the city’s second spot Solana exchange-traded fund, broadening institutional access to SOL via familiar investment vehicles.
Pando Asset, an investment management company specializing in digital asset products, partnered with local market participants to bring the new ETF to market. The launch underscores Hong Kong’s push to remain competitive in digital asset adoption and regulatory clarity across Asia.
While the ETF’s listing is expected to enhance Solana’s institutional footprint, actual trading volumes and fund flows will be the key indicators of long-term investor appetite for the asset.
Solana’s latest announcement highlighted that institutional-grade products like spot ETFs offer new gateways for professional investors, but ongoing demand will depend on market sentiment and flows.
In addition, Solana spotlighted the onchain tokenization of USDGO Plus SP, a market-neutral digital asset fund now available for eligible professional investors in Hong Kong. This fund is built on USDGO, a regulated stablecoin with a circulating supply exceeding $1 billion and regulated in the United States.
OSL Group, a digital asset platform headquartered in Hong Kong, managed the tokenization and distribution of the fund, further broadening local financial products built on Solana’s blockchain.
Mini dictionary: OSL Group, a leading digital asset platform in Asia, offers trading, custody, and tokenization services, and provides institutional solutions for cryptocurrencies and tokenized securities.
Despite these launches, net outflows from spot Solana ETFs persisted for a sixth straight session, with CoinGlass reporting withdrawals totaling $700,000 on Monday. The recent outflow, however, was smaller than those recorded over the past week, hinting at a potential slowdown in selling pressure.
DayNet Outflow (USD)Monday$700,000Previous week (peak daily)Above $1 millionA sustained return to positive ETF inflows would signal improved sentiment among professional investors and support further price recovery. For the time being, lingering outflows remain a challenge for upward momentum.
SOL price outlook and technical levelsSolana’s price trend remains under pressure, with SOL registering a 4% loss in the past 24 hours. Tuesday’s rebound brought SOL to $106.54, just below its 50-day EMA, which sits at $107.49. This moving average acts as a key support and resistance level for short-term traders and analysts.
If Solana can hold and rally above $107.49, it could target the September 28 high at $124.89, with further resistance ahead at $149.36. However, the price remains vulnerable given the muted technical readings.
The Relative Strength Index currently stands at 40, below the neutral midpoint of 50, while the Moving Average Convergence Divergence (MACD) indicator stays in negative territory. These signals reflect weak bullish momentum despite the brief recovery.
If Solana loses support at the 50-day EMA, prices could move towards the 100-day EMA at $99.34 and the 200-day EMA at $97.18. Horizontal support is also found around $96.19. In the case of a deeper selloff, trendline support between $84.82 and $77.07 may become relevant, potentially stabilizing further declines.
Momentum for SOL remains soft as technical indicators have yet to flash a decisive bullish reversal, keeping the outlook cautious while below the 50-day EMA.
The global market capitalization of tokenized stocks and equities soared to a new record of $3.9 billion, according to data from Token Terminal. This marks a major expansion for blockchain-based real-world assets, which stood at just $719 million in January, showing more than a fivefold increase in value over the course of 2024. The sector’s growth reflects mounting interest among digital asset buyers seeking exposure to traditional corporate equities through blockchain platforms.
BNB Chain, Ethereum, and Solana dominate marketThree blockchain networks currently dominate about 70% of the growing sector for tokenized stocks. BNB Chain stands at the forefront with a market capitalization of $1.2 billion. Ethereum follows closely behind with $841.9 million, while Solana holds $741.7 million. These platforms have become foundational for the issuance and trading of digital tokens that mirror shares in established companies.
NetworkMarket CapitalizationBNB Chain$1.2 billionEthereum$841.9 millionSolana$741.7 millionThese networks act as the primary infrastructure for minting and exchanging digital representations of company stocks, making traditional equity markets accessible to crypto investors worldwide.
Investor concerns: privacy, legal ownership, and market risksAs the tokenized stock market grows, investor privacy remains a key concern. Although blockchain wallets may obscure direct identities, links to real-world data can sometimes reveal ownership through supporting records. The US Securities and Exchange Commission’s Investor Advisory Committee warned about vulnerabilities in keeping investors’ personal information private when holding tokenized shares.
A past incident highlighted how transaction tracking can play a significant role in asset recovery. In the 2016 Bitfinex hack, authorities traced Bitcoin movements on the blockchain and ultimately seized over 94,000 BTC. While the case focused on cryptocurrencies, it demonstrated the traceability of transactions involving blockchain-based assets.
Some analysts and industry commentators have joined the discussion. One X (Twitter) user, @Sirius, raised the issue that public blockchains may assist with fast transfers but are less suited for those who wish to keep their investments hidden.
SEC Commissioner Hester Peirce cautioned in July 2025 that buyers of certain tokenized equities might not own the underlying shares, potentially exposing them to third-party risk if platforms fail. X user @Web3lawyer explained that digital tokens often represent claims on shares held by a custodian, rather than direct legal ownership recorded with the official shareholder register. As a result, dividend rights and voting privileges follow regular corporate law, not just technical aspects of the blockchain.
Public blockchains allow for efficient movement of funds, but privacy-conscious investors may find that transparency conflicts with their desire to keep their holdings confidential. Even when names are not directly visible, transactional records can sometimes reveal investor identities.
Mini dictionary: Token Terminal, a data analytics platform tracking blockchain-based assets and decentralized finance projects, provides insights into market capitalization, user activity, and growth metrics for the digital asset sector.
Stablecoins, trading costs, and liquidity issuesStablecoins play a significant role in the advancement of tokenized stock markets, serving as a primary means for investors to enter and navigate digital markets. X user @Rain noted the rising use of stablecoins, which not only fund purchases of tokenized assets but also drive development in new crypto projects.
Tokenization could lower barriers to investment in high-priced equities by enabling fractional share ownership. This feature allows investors with limited capital to buy portions of shares in companies such as Apple or Amazon. Despite lowering entry costs, fractional ownership does not reduce investment risk, as the potential for value loss remains if share prices decline.
Investors must also account for fees when trading tokenized stocks. While some brokerage expenses may be reduced, platform charges, blockchain transaction fees, and price discrepancies between tokens and actual shares can still erode returns. Users making frequent or small trades could feel the impact of these additional costs.
Another consideration is liquidity. Purchasing a tokenized stock does not guarantee immediate resale opportunities. Investors may be forced to accept reduced prices or wait if trading activity slows.
Tokenizing stocks can lower the minimum investment needed for entry, but liquidity and trading costs may still limit the benefits from new digital platforms.
Gate expands tokenized stock derivativesIn a separate move, cryptocurrency exchange Gate has broadened its crypto derivatives offerings by introducing eight new tokenized stock perpetual futures contracts. Through its USDT-margined futures platform, Gate now provides traders with additional exposure to the performance of major US companies within the crypto ecosystem.
These new contracts give market participants expanded access and could heighten interest in tokenized equity derivatives as the market for digital versions of traditional assets matures.
George, the Bitcoin pundit behind CryptoUS, believes Cardano (ADA) could stage a comeback similar to Solana’s recovery after its price fell below $10 during a previous crypto downturn.
Speaking during a Q&A session, George argued that Cardano has repeatedly recovered from deep declines during crypto winters. He pointed to its resilient community and Charles Hoskinson’s continued involvement as key factors behind the blockchain’s staying power.
“ADA does that every single crypto winter. It always falls to some low, and then recovers back up,” George said.
He added that he believes Cardano will keep recovering as long as Hoskinson remains involved in the project.
George Compares Hoskinson’s Role to Elon Musk’s at Tesla
George argued that Hoskinson remains central to Cardano despite the project’s efforts to decentralize governance. He compared Hoskinson’s influence to that of Elon Musk at Tesla, suggesting his departure could severely undermine confidence in Cardano and trigger a steep decline in ADA’s price.
“If he said on a podcast tomorrow, ‘I’m leaving Cardano. I’m not going to support it. I’m not going to develop anything for it,’ watch Cardano’s price. It’ll tank like 90%,” George said.
The pundit acknowledged that Hoskinson has pushed for greater decentralization and that Cardano has made progress toward distributing control among different organizations and participants.
However, George maintained that Hoskinson’s leadership and influence over Input Output, the blockchain development company, remain important to the ecosystem.
Cardano Community and Midnight to Support Its Recovery
George also pointed to Cardano’s committed community as another reason he expects ADA price to recover from future market downturns. He described ADA holders as unusually loyal, arguing that many remain involved in the ecosystem even during difficult market conditions.
George also mentioned Midnight, Cardano’s privacy-focused blockchain ecosystem, noting that community members have turned their attention toward the project.
However, he questioned whether everyone moving toward Midnight fully understands the reasons behind the transition. This suggests that some participants may simply be following the latest development within the ecosystem.
Can ADA Repeat Solana’s Recovery?
Solana’s recovery from below $10 to new all-time highs illustrates an unexpectedly dramatic comeback. The recovery in question followed its price crash amid the FTX collapse. Specifically, SOL’s price fell to $8.14 in December 2022 before surging more than threefold the following month.
By December 2023, its price had increased approximately 15-fold, climbing above $125. Interestingly, these price movements occurred during a bear market. The rally continued until Solana reached an all-time high of approximately $294 in January 2025. From its initial low, that represented a massive gain of more than 3,500%.
Solana Price Recovery from under $10. Can Cardano (ADA) Price Do Same?
Interestingly, many expect ADA to deliver a comparable comeback, particularly if it can return to its previous all-time high of around $3 and resume its upward trajectory.
Ultimately, Cardano ability to replicate Solana’s performance will depend on whether it can translate its established community and ongoing ecosystem development into sustained adoption and market demand.
Renowned crypto investment firm Grayscale has continued to see renewed interest in its recently launched Solana investment product as the fund continues to draw in capital.
Per recent data showcased by Arkham Intelligence, the firm has bought up to $20.2 million worth of Solana through its Solana ETF, GSOL, over the past 20 days.
Grayscale's Solana ETF sees sustained demand The data shows that the Grayscale Solana ETF saw consistent demand from investors as it recorded a steady influx of fresh capital on most daily trading sessions over the last month.
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While the fund recorded only one day of outflows during the period, it appears that investor money has largely continued to flow into the Solana-based investment product.
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Furthermore, the rare cases of withdrawals recorded by the fund have seen Grayscale outperform other Solana investment funds that have recently recorded selling activity.
The sustained inflows have drawn attention from market analysts, as the fund has only launched recently, yet it is already igniting renewed institutional interest in the Solana ETF ecosystem.
Grayscale outshines VanEck's Solana ETFUnlike Grayscale, VanEck's VSOL ETF saw investors withdraw their funds amid the recent market volatility.
During its latest trading session, VanEck sold about $700,000 worth of SOL, suggesting that investors are less willing to gain exposure to Solana through the fund when compared to Grayscale.
Notably, Grayscale did not record any sales during the same period, as investors appear to be monitoring institutional demand for Solana and how investment funds are responding to changing market conditions.
Following these purchases, Grayscale is establishing its foothold as a strong player in the Solana ETF market.
Bitcoin (CRYPTO: BTC) continues to outperform altcoins like Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), XRP (CRYPTO: XRP), which have dropped between 2% and 5% over the past 24 hours.
Only 11 of 66 large-cap altcoins finished last week higher, while Bitcoin dominance climbed toward 59.5%.
On the other hand, U.S. spot Bitcoin ETFs recorded $679 million in weekly outflows, their largest since late June, while Ethereum ETFs shed $542 million.
Why BTC Dominance Rises As Altcoins StruggleProminent crypto analyst Benjamin Cowen warned that Bitcoin dominance (BTC.D) may continue climbing as monetary policy moves toward a more restrictive stance. It could eventually revisit its 2025 highs before a sustained decline.
Unlike the previous cycle, he does not expect BTC.D to rise indefinitely.
Cowen pointed to rising interest rates and strengthening U.S. dollar as major headwinds for altcoins, suggesting that capital could increasingly favor Bitcoin.
He believes eventual interest rate cuts and a weaker dollar could trigger renewed strength in altcoin-to-Bitcoin trading pairs, potentially pushing BTC.D towards the low-50% or even upper-40% range.
Cowen expects altcoins to continue losing ground against Bitcoin until monetary conditions become more accommodative, potentially a year or two away.
Will Support Hold Before The Next Rally?Heavily followed analyst Kevin warned that Bitcoin faces a deeper correction ahead of CPI data, with $77,000 to $83,000 as critical support.
Holding this range could trigger a rally toward $93,000 to $100,000, while a breakdown risks a decline to $67,000 to $76,000.
He favors a pullback to establish a bullish higher low before a more sustainable rally in late 2026 or 2027, with altcoins potentially facing steeper losses.
What’s Next?Wintermute’s Oct.13 report identified two major catalysts needed for a sustainable crypto recovery:
A breakout in 30-year Treasury yields above 5.64% or BTC’s repeated failure to hold $82,500 would strengthen the bearish outlook. Wednesday’s CPI report could reveal whether higher energy costs are fueling broader inflation, potentially strengthening expectations for further Fed rate hikes. The research firm remains constructive on Bitcoin’s longer-term outlook but cautioned against chasing altcoin rallies until liquidity conditions improve.
After ceding its dominance to BNB and Robinhood, Solana is once again leading all chains in weekly tokenized equity trading volume for the first time in 14 weeks.
With meme/stock trading winding down across all networks, Solana has re-emerged as crypto’s premier venue for tokenized equity trading. Issuers now find themselves in a fierce battle to capture the market, with xStocks and Backpack fighting tooth and nail to win Solana’s traders.
Meanwhile, commodities trading has declined almost entirely, with weekly trading volumes falling 72% from their peak.
Solana Leads All Chains For First Time Since July
Solana is reinforcing its position as the everything exchange, with tokenized equity trading activity flowing back to the network after brief periods of memetic mania on rival chains.
According to Blockworks data, Solana now accounts for 31% of weekly tokenized equity trading volume across all chains, leading rivals BNB and Robinhood, which captured 26% AND 25%, respectively. As BNB and Robinhood cool off, Base has emerged as an unexpected competitor, enjoying consistent week on week growth to command 18% weekly market share.
Within Solana DeFi specifically, tokenized $SPCX has emerged as the network’s most-traded equity. In yesterday’s session, Backpack-issued $SPCX witnessed $19.4M in trading volume, with the xStocks variant attracting $5.26M in flow.
But beyond the $SPCX outlier, onchain data suggests that xStocks still dominates Solana’s tokenized equity race.
Backpack, xStocks Go Head-to-Head for Dominance
Solana’s two leading tokenized equity issuers, Backpack Securities and xStocks, are in a fierce battle to win over DeFi users. Last week, both issuers captured 48% of total trading volume each, with notable competitors like Ondo and the newly launched Securitize struggling to gain traction.
Where xStocks and Backpack-issued assets boast deep onchain liquidity and strong brand awareness, Ondo and Securitize are somewhat limited by virtue of their design. For example, Ondo stocks trade via an RFQ system, making them inherently less composable onchain, while only whitelisted users can trade Securitize stocks.
Despite Backpack and xStocks sitting neck-and-neck in trading volume, xStocks has a much larger footprint in the wider DeFi landscape. Blockworks data suggests that over 77% of the supply of Solana tokenized equities has been issued by xStocks, with Backpack-issued equities representing just 5%.
Similarly, xStocks and Superstate are the only issuers represented in lending markets like Kamino and Jupiter Lend, giving these assets far greater utility beyond trading.
Commodities Trading Declines Amidst as Memes Cool
While reclaiming the crown in the tokenized equity race, Solana’s onchain commodities sector has struggled to maintain trader interest. Buoyed by memecoins paired with commodities like gold, weekly commodity volume on the network ripped to new all-time highs of $92.5M.
But with memecoin markets starting to cool and the custom token pairing narrative losing steam, weekly volumes have dropped 72%, falling to just $25M.
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13 October 2026 | 16:54 Solana traded near $106 at the time of writing after breaking below a rising channel that had guided its advance since August.
The move has shifted the chart’s focus from upside targets to the supports that could contain the pullback.
The rally lost its floor around $109 Since early August, SOL had moved inside a rising parallel channel, with each pullback holding above the prior low. The latest sell-off broke that pattern by pushing price beneath the channel’s lower boundary and through the $109.2-$109.7 range, where the former channel floor met the 50-day simple moving average and the 23.6% Fibonacci retracement.
SOL/USD daily chart showing the lost $109.2-$109.7 support cluster. Source: TradingView. That range had helped contain earlier September pullbacks. With SOL now below it, the same combination of chart references sits overhead. A recovery above $109.2-$109.7 would place price back inside the channel and above its 50-day average; while it remains below, rebounds may meet resistance there.
With $109 overhead, attention has moved to $100 The latest daily session reached an intraday low of $101.72, stopping just above the 38.2% Fibonacci retracement at $100.2. The round $100 mark falls in the same range, making it the first area where buyers have attempted to slow the decline.
The response should be judged around $100 rather than at one exact number. A short move below the range would not settle the chart by itself. Persistent daily trading beneath it, however, could leave SOL searching for support closer to the longer-term moving averages.
Lower supports become relevant only if $100 fails If SOL cannot stabilise around its current support, the next reference lies between $92.5 and $93.5. The 50% Fibonacci retracement sits near $92.5, while the rising 100-day SMA is near $93.5. Their overlap makes this the next important range beneath the market.
Further down, the 61.8% Fibonacci retracement near $85 overlaps with the 200-day SMA near $87. That area would become the chart’s deeper support reference only if SOL also trades through the 100-day average.
Momentum has weakened with the price structure Losing the 50-day SMA has damaged SOL’s short-term trend. The 100-day and 200-day averages are still rising below price, though, leaving support layers from the August advance intact at lower levels.
The same loss of momentum is visible in daily RSI, which has fallen to around 41—below its 50 midpoint and its signal line near 54.
SOL’s daily RSI has fallen below 50, reflecting weaker short-term momentum. RSI confirms the slowdown that followed SOL’s retreat from the recent high near $125. A recovery in the indicator would carry more weight if price also regains the former $109 support cluster.
The rebound has a clear repair point Solana’s chart has shifted from an orderly channel advance to a correction below its first major support cluster. Holding around $100 could keep the pullback contained, but the short-term structure would remain fragile until SOL returns above the former channel floor near $109.
If the current support cannot hold, the $92.5-$93.5 area would become the next technical test. The rising 100-day and 200-day averages leave room for a deeper correction without erasing the entire August advance, yet the immediate trend remains weaker while SOL trades below the lost channel.
This article is provided for informational purposes only and does not constitute financial or investment advice. Technical levels and indicators are interpretive tools, not guarantees of future price movement.
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.
Grayscale is experiencing robust inflows to its Solana ETF, GSOL, as investor demand continues to grow. Newly released data from Arkham Intelligence reveals that Grayscale acquired $20.2 million in Solana over the past 20 days, highlighting consistent daily buying activity.
Strong inflow momentum for Grayscale’s GSOLGSOL has recorded steady inflows throughout the last month, with only one day of outflows during this period. Most sessions demonstrated new capital entering the fund, reinforcing Grayscale’s appeal among investors seeking exposure to Solana through exchange-traded products.
Institutional players have shown particular interest in the product, with market analysts noting that Grayscale’s ETF, despite launching only recently, has quickly established itself as a key vehicle for Solana investment.
The data shows that the Grayscale Solana ETF saw consistent demand from investors as it recorded a steady influx of fresh capital on most daily trading sessions over the last month.
When compared to competing Solana exchange-traded funds, GSOL’s inflow record stands out. Even during short-lived market volatility, only minimal withdrawals were recorded, suggesting ongoing confidence among existing investors.
VanEck’s VSOL faces outflows amid volatilityIn contrast, VanEck’s VSOL ETF has reported investor withdrawals as participants reacted to recent fluctuations in the digital asset market. The latest available trading session saw VanEck selling approximately $700,000 worth of SOL, signaling a cooldown in investor appetite for this particular Solana product.
Market observers have noted that, during the same period, Grayscale did not report any sales—reflecting a notable divergence in fund flows between the two ETF providers. This difference has further elevated Grayscale’s position in the evolving Solana ETF landscape, supporting the impression that GSOL is attracting a greater share of institutional and retail attention.
Investor behavior and meme token activityThe current environment emphasizes the importance of tracking inflows, outflows, and investor behavior when analyzing ETF performance and broader market sentiment. In the highly volatile meme token market, sharp capital movements are common. An online trend can drive millions of dollars of activity within days. For example, Fomo App data highlighted a trade that turned a $99 investment in “Niu Lai” into roughly $370,000, illustrating the pace and intensity of shifts in this sector.
Monitoring the timing and token selection by market participants is becoming increasingly vital. Fomo App offers a platform that combines token discovery, real-time trading, and investor ranking features. By providing social feeds and trade notifications, Fomo App enables users to monitor meme token trends alongside overall investor activity.
With GSOL continuing to attract steady inflows and VanEck facing outflows, Grayscale is steadily strengthening its presence in the Solana exchange-traded fund market. The divergence in fund flows between competitors underlines the shifting preferences of institutional and retail participants in crypto investment products.
Plume Vaults is expanding access to OnRe’s ONyc, bringing the yield-bearing reinsurance asset to Monad through nONYC.
Built by OnRe, ONyc provides onchain exposure to reinsurance-backed yield through a regulated structure, with returns generated from underwriting premiums and collateral rather than crypto-native incentives. Until now, the asset has primarily been available only on Solana.
nONYC packages ONyc within Plume’s Vault infrastructure, creating a distribution-ready version that can be deployed across supported EVM networks. The initial deployments will bring nONYC to Monad and Ethereum, giving capital across the EVM ecosystem a new route into an asset that has largely been concentrated in Solana.
Making RWAs More DistributableTokenization is only one part of bringing real-world assets onchain. For an asset to reach more capital, it also needs to be available across the networks and applications where that capital already exists. This is Plume Vault's aim.
Its infrastructure packages institutional assets and strategies into standardized products that can be distributed across multiple ecosystems, allowing existing RWAs to reach new sources of demand without requiring a separate infrastructure stack for every network.
The approach is already being applied across private credit, Treasuries, fixed income and emerging-market credit. Plume Vaults now has more than $200M in TVL, while ONyc has grown into one of the largest actively deployed RWAs on Solana, with more than $225M deployed across Solana DeFi.
With nONYC, that existing asset can now move beyond its original ecosystem and into new markets.
Solana logo, official brand asset from solana.com/branding. Alpenglow is a Solana consensus upgrade.
Alpenglow, Solana’s most significant consensus upgrade, is scheduled to launch on the mainnet on October 21, aiming for a substantial reduction in transaction finality time to 150 milliseconds. This upgrade, announced via social media, seeks to replace the existing TowerBFT voting layer with direct validator votes and aggregate certificates. Although this announcement marks a major milestone for Solana, official documentation has yet to confirm the October 21 activation date. The anticipated upgrade is expected to enhance network performance significantly, potentially impacting Solana’s competitive position.
Market participants are closely monitoring the unfolding developments, as the Solana (SOL) token was near $107 on October 13, down approximately 4% on the day. The prospect of faster transaction finality and reduced on-chain voting overhead suggests that the network’s performance could improve substantially if the upgrade proceeds as planned. This has implications for Solana’s pricing in prediction markets, where the likelihood of reaching higher price thresholds in October is being actively assessed.
Key Takeaways
Activity suggests anticipation of Solana’s Alpenglow upgrade, which aims to significantly enhance network speed and efficiency.
Pricing in prediction markets appears consistent with expectations of increased investor confidence following a successful upgrade.
Current Solana pricing reflects a cautious approach, with potential for upward adjustments as the upgrade date approaches.
What to Watch
Observers are focused on Solana’s official confirmation of the Alpenglow upgrade activation date. A successful mainnet launch on October 21 could alter market dynamics significantly, possibly leading to price increases. Conversely, any delays or technical issues could dampen investor sentiment. Key actors in the Solana ecosystem, including co-founders Anatoly Yakovenko and Raj Gokal, may provide further insights as the launch date nears. Market participants will also be watching for regulatory developments and broader cryptocurrency market trends that could influence Solana’s pricing trajectory.
Solana price has rebounded toward $108 after falling close to $100, but its position below daily trend resistance leaves the recovery facing an early test near $111.
Summary
Solana price traded near $107.77 after recovering from an intraday low of $101.69.
Daily Bollinger Band resistance stood at $116.43, with lower-band support near $106.
CoinGlass showed the strongest nearby liquidation concentration around $111, above the latest price.
Weekly support stood at $93.75, while analysts outlined different paths for the correction.
TradingView’s Binance SOL/USDT daily chart showed Solana trading at $107.77 on Oct. 13, up 1.90% during the session. The token had moved between $101.69 and $109.07, recovering roughly 6% from its intraday low while remaining below its early-October trading area near $120.
Compared with the Oct. 7 reference price of $120.65, the latest chart reading put SOL approximately 10.7% lower. The rebound reduced the weekly loss, but the daily chart still showed a sharp retreat from the recent highs and a price below its 20-day average.
Solana’s $106 band faces a fresh support test
TradingView’s daily Bollinger Bands placed the lower boundary at $106.01, the middle line at $116.43 and the upper boundary at $126.84.
Solana price daily chart — Oct. 13 | Source: TradingView
SOL had recovered above the lower band by the chart’s latest reading, following an intraday move beneath it. The rebound left $106 as the nearest visible band level below the market, followed by the session low at $101.69 and the psychological $100 threshold.
The daily chart showed that Solana’s recent advance had carried the token from its August trading area in the $70s toward $120. The latest correction pulled price back beneath the middle Bollinger line, reversing part of that advance without returning SOL to its earlier base.
At $107.77, the token remained about 8% below the $116.43 middle band. A recovery toward that line would therefore require SOL to move through the session high at $109.07 and the overhead liquidation concentrations visible on CoinGlass.
The daily average directional index stood at 31.06, down from higher readings during the preceding advance. The indicator measures trend strength rather than direction; alongside the falling price and declining reading, the chart showed a weakening of the earlier upward trend.
The daily setup places the first recovery test near $109, with the 20-day average farther above. On the downside, a renewed move beneath $106 would bring the recent low near $102 back into focus.
The $111 liquidation cluster sits above the rebound
CoinGlass’s three-day liquidation heatmap showed SOL falling from roughly $110, briefly rising above $113 and then dropping toward $102 before recovering toward $108.
Solana liquidation heatmap | Source: CoinGlass
The brightest nearby concentration sat around $111–$111.5. Additional overhead bands appeared near $109 and across approximately $112–$114.50, placing several concentrations above the latest price.
Below the market, the heatmap showed bands around $106, $104, and $102. The lower concentrations lined up with areas crossed during the latest sell-off and rebound.
The price trace also showed that the first recovery from the low stalled below $109 before SOL retreated again. The latest bounce brought the token back toward $108, leaving the strongest overhead concentration unreached.
A move through $109 would put the $111 area next on the visible map. A retreat toward $106 would instead return SOL to the lower part of its recent trading range, with $104 and $102 beneath it.
CoinGlass’s heatmap maps estimated liquidation exposure rather than completed liquidations. Its bands identify potential pressure points for leveraged positions, while the price trace shows which areas SOL has already crossed.
Weekly support at $93.75 frames the deeper risk
TradingView’s weekly chart placed SOL at $107.76, down 3.22% from the week’s opening level of $111.35. The weekly range stretched from $101.69 to $113.40.
Solana price weekly chart — Oct. 13 | Source: TradingView
The Murrey Math indicator marked $125 as a major support and resistance pivot and $93.75 as the lower boundary of its displayed trading range. SOL remained between those levels after failing to sustain its recent advance toward $125.
At the latest reading, the $93.75 boundary sat approximately 13% below the market. A decline to that level would require SOL to lose both the recent $101.69 low and $100 along the way.
The weekly Awesome Oscillator remained positive at 25.22, with green bars. The longer-term momentum reading therefore remained above zero despite the latest weekly price decline.
Analyst Batman described SOL as returning to the lower boundary of an ascending channel. The analyst suggested another strong advance could follow if that structure held, citing a sharp expansion after an earlier channel.
$SOL is back at the lower rail of its ascending channel.
The previous channel led to a sharp vertical expansion. If this structure holds, we could be looking at another strong leg higher pic.twitter.com/prrHopcetK
— BATMAN ⚡ (@CryptosBatman) October 13, 2026
CryptoBullet outlined a more cautious near-term path, saying SOL had reached the upper boundary of a target zone and could move deeper into it over the coming weeks. The analyst’s chart illustrated a further dip before a possible later recovery.
The two views make support retention central to the setup: Batman’s bullish scenario depends on the channel holding, while CryptoBullet anticipates additional weakness first.
US ETF withdrawals accompany the technical pullback
SoSoValue data showed that US spot Solana ETFs recorded $24.8 million in net outflows during the week ending Oct. 9. The withdrawals ended 14 consecutive weeks of inflows and marked the products’ largest weekly outflow since launch.
The US Bureau of Labor Statistics has scheduled the September consumer price index report for Oct. 14 at 8:30 a.m. Eastern Time, placing the inflation release immediately after SOL’s latest support test.
For SOL’s technical recovery, the immediate levels remain closer: $109.07 at the session high, the liquidation concentration near $111, and the daily middle band at $116.43. Below the market, $106.01 and $101.69 separate the latest rebound from another test of $100.
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.
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.
21Shares Launches Synthetic Anthropic ETP on the Vienna Stock Exchange
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The days following the one-year anniversary of the “10/10” crypto crash have seen significantly volatile price action. Bitcoin climbed back above $83,000 on October 13 after briefly falling below $81,000 late Monday night. This decline followed a period when Bitcoin hit the $87,000 level several times in late September and early October. $BTC now trades around $83,100, although it remains down 3.2% over the past 7 days.
Altcoins have suffered steeper declines. $SOL fell 11% over the past week, while $HYPE dropped 13%, $DOGE lost 12%, $XRP declined 10%, and $ETH fell 8%.
$SOL briefly slipped below $102, reaching its lowest level in almost a month before recovering to around $107. Despite the rebound, $SOL remains down 3.2% over the past 24 hours and 11% over the week.
$812M in Liquidations Deepen the Sell-Off Crypto markets recorded $811.79 million in liquidations over the past 24 hours, according to CoinGlass. A total of 169,779 traders were liquidated.
Long positions accounted for $689.11 million, representing approximately 84.5% of total liquidations. Short positions contributed $126.12 million.
The largest individual liquidation order reached $9.65 million on Binance's BTCUSDT market. Binance accounted for 50.4% of the liquidation volume shown on the dashboard.
Crypto Sentiment Slides Toward Neutral Investor sentiment has weakened alongside prices. CoinMarketCap’s Crypto Fear & Greed Index fell to 55, placing the market in neutral territory. The index stood at 67 a week ago and reached 82 in August, its highest reading of the year.
The decline signals a cooling in risk appetite after the market's earlier period of extreme greed.
Solana ETFs Record First Weekly Outflows Since June U.S. spot Solana ETFs have experienced 6 consecutive days of net outflows. Last week, the funds recorded $24.8 million in net outflows, marking their first negative week since June.
The slowdown follows a strong period of demand. During the week ended September 25, the funds attracted more than $188 million in net inflows, their strongest weekly performance since launching in 2025.
Solana's ETF outflows form part of a wider retreat from U.S. spot crypto investment products. Last week, spot Bitcoin ETFs recorded $681.1 million in net outflows, their largest weekly outflow since June, while Ethereum ETFs lost $542 million, their biggest weekly outflow since January.
The selling continued into this week. Yesterday, October 12, U.S. spot Bitcoin ETFs recorded $65.4 million in net outflows. Meanwhile, spot Ethereum ETFs recorded $85.4 million in outflows on October 12, extending their losing streak to 10 consecutive sessions.
Against this backdrop, Solana ETFs' 6 consecutive days of outflows and last week's $24.81 million in net redemptions reflect a broader pullback in demand for crypto investment products rather than an isolated shift away from $SOL.
Solana Treasury Companies Take Different Paths SkyAI confirmed on October 12 that it had recently sold approximately 1 million $SOL, worth more than $106 million at current prices. The sale represents nearly half of its holdings, as the company plans to repurchase up to $201 million in shares and warrants. The confirmation followed $114.87 million in $SOL transfers to exchanges over the weekend.
DeFi Development Corp took the opposite approach, purchasing 22,070 $SOL worth approximately $2.43 million over the past week. The acquisition brought its holdings to 2,586,282 $SOL, valued at around $284.9 million, representing a 12% increase since August 12.
Strategy Adds Bitcoin as Saylor Signals More Purchases Michael Saylor's Strategy acquired about 250 BTC, worth $21 million, last week and repurchased $192 million in its STRC preferred shares.
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Saylor frontran the announcement by posting another Bitcoin acquisition tracker on X on Sunday with the caption, "There's always room for more orange."
As crypto markets enter a consolidation phase after the August and September rally, market participants will do well to monitor upcoming catalysts such as Wednesday’s U.S. inflation data and the midterm elections.
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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.
Universal has announced the expansion of its dollar-backed USDU stablecoin to Solana, extending its UAE-regulated issuance framework and 1:1 reserve backing to another blockchain for institutional settlement.
Summary
USDU’s Solana integration will support transfers, digital asset settlement, and institutional treasury management.
Universal says dollar reserves back USDU 1:1, with independent attestations published each month.
Aquanow will provide distribution and institutional access across supported markets.
USDU’s UAE registration permits digital asset payments but excludes general mainland domestic payments.
Universal said in its announcement that eligible participants will be able to hold and transfer USDU on Solana, using the network for dollar-denominated transactions around the clock. The issuer identified digital asset settlement and treasury management among the intended uses, alongside other on-chain financial activities.
Under the terms described by Universal, access remains focused on professional and institutional participants in the UAE and permitted international markets. The company said Aquanow, its global distributor, will connect eligible participants with the stablecoin through its institutional distribution infrastructure.
USDU’s Solana expansion targets institutional settlement
Through the integration, Universal said USDU will become available across additional wallets, platforms and financial applications that support Solana. The company described the network’s transaction speed, low costs, and continuous operation as reasons for extending the stablecoin to the blockchain.
Juha Viitala, Universal’s senior executive officer, tied the expansion to institutional access to digital dollars.
“Expanding USDU to Solana brings the reach of regulated, USD-denominated liquidity to one of the most active environments for on-chain payments and financial applications.”
In the same statement, Viitala said the combination of USDU’s UAE regulatory framework and Solana’s infrastructure would give eligible institutions flexibility in how they “access, move and deploy digital dollars on-chain.”
For distribution, Universal said Aquanow will handle connections with institutions and professional participants across supported markets. Aquanow describes its customers and partners as banks, neobanks, brokerages and payment companies, with regional teams operating across North America, the Middle East, Europe and Asia.
According to the announcement, Aquanow’s UAE business operates through Aquanow ME FZE, which is regulated by Dubai’s Virtual Assets Regulatory Authority. Its licensed activities include broker-dealer services, lending and borrowing, and management and investment services.
UAE authorization limits USDU to specified payment uses
Universal said USDU is the first dollar-backed stablecoin registered with the Central Bank of the UAE as a Foreign Payment Token. The company identifies that registration as the basis for its permitted use in digital asset-related payments within the country.
For UAE transactions, Universal’s disclosures state that USDU may be used to purchase digital assets and digital asset derivatives. The issuer expressly excludes general payment purposes in mainland UAE, including domestic payments.
Within Abu Dhabi Global Market, Universal Digital Intl Limited is separately regulated by the Financial Services Regulatory Authority to issue a Fiat-Referenced Token to Professional Clients only, according to the company’s regulatory disclosures.
On reserve backing, Universal said it holds one dollar in reserves for each USDU token. The issuer also said independent attestations are published monthly, allowing participants to review reports covering the reserves.
USDU already has a connection to dirham-denominated settlement. In a May 7 report, crypto.news covered a regulated stablecoin conversion framework linking USDU with the dirham-backed AE Coin, supported by Al Maryah Community Bank. The companies described the arrangement as infrastructure for institutional settlement, liquidity management, treasury operations, and cross-border transactions.
For that conversion service, the companies identified Aquanow and Changer.ae as the initial access providers. They also said future integrations could support trade finance and multi-currency settlement, presenting those services as potential extensions rather than completed launches.
Bitcoin.com previously added an Ethereum access route
Before the Solana announcement, Bitcoin.com outlined plans to add USDU wallet support on Aug. 19. The agreement covered its web and mobile self-custodial wallet, with USDU supported as an ERC-20 token on Ethereum.
According to Bitcoin.com, users would be able to hold, send, and receive the token while retaining control of their private keys. The company said availability would depend on local rules, with additional services relying on integrations from outside providers.
Beyond storage and transfers, Bitcoin.com said it planned to accept USDU for designated services and work toward payments between users and merchants across its products. Swaps and fiat purchase and sale functions were expected to follow when third-party providers supported the stablecoin.
The wallet announcement also included educational material explaining fiat-backed stablecoins, reserve attestations and regulated issuance. Bitcoin.com said users would receive that information through its Learn-to-Earn content and a dedicated stablecoin education series.
Solana payment products already serve business and remittance users
For U.S. business payments, Ramp described a separate Solana-based service in July that lets companies fund overseas stablecoin transfers from dollar bank accounts. Its Solana-powered stablecoin accounts, reported on July 22, support USDC and USDT rather than USDU.
Through Ramp Bill Pay, the company said customers could fund payments from a U.S. dollar bank account or Ramp Checking, with the money converted into USDC or USDT before delivery to a recipient’s wallet. Stablecoin balances sit alongside cash accounts and use existing approval policies and accounting integrations, according to Ramp.
The company said its service supported vendor payments in more than 140 countries and fiat payouts in over 40 local currencies. Ramp also reported that more than 1,000 businesses used stablecoins for vendor payments, with over 70% of their payment volume occurring outside traditional banking hours.
In consumer remittances, Western Union and Rain launched the Stablecard wallet on Aug. 4 across 37 markets, according to an Aug. 5 report. The product uses Western Union’s USDPT stablecoin, issued on Solana by Anchorage Digital Bank and redeemable 1:1 for U.S. dollars.
According to Western Union, customers can receive eligible remittances into Stablecard, transfer USDPT from compatible wallets or exchanges, and spend through Visa merchants or withdraw through ATMs. Rain built the application, embedded wallet, and card infrastructure, while the product’s disclosures state that ATM charges, foreign exchange costs, and other fees may apply.
Shiba Inu is one of the most-traded meme coins in crypto, listed on most large centralized exchanges and on decentralized exchanges such as ShibaSwap and Uniswap. The fastest way to buy SHIB is through a regulated exchange such as Binance, Coinbase, or Kraken: create an account, verify your identity, add a payment method, and buy SHIB against USD or USDT. Once your ID is approved, the purchase itself takes a few minutes.
SHIB traded at about $0.0000052 on October 13, 2026, with a market cap of roughly $3.1 billion and a circulating supply of about 589 trillion tokens, according to CoinGecko. At that price, $100 buys roughly 19 million SHIB before fees. Here’s where to buy it, what each route costs, and how to pay with a card.
ExchangeBest ForTrading FeeCard Payments and AccessBinanceLiquidity & low fees0.10% spot (0.075% with BNB)Credit and debit cards where available; not open to US residentsCoinbaseUS beginnersSpread plus a fee that varies by payment methodDebit cards and bank transfers; no credit cards for SHIBKrakenSecurity-conscious buyers1% Instant Buy; Kraken Pro 0.40% maker / 0.80% taker at entry tierDebit only in the US; 3D Secure cards elsewhereCrypto.comMobile usersFee shown in the trade preview; card fees vary by countryCredit, debit, Apple Pay and Google PayKuCoinAltcoin variety0.10% spotNot open to US residentsRobinhoodUS stock investorsNo fee by default (spread built into the price); optional fee tiers of 0.00% to 0.95%US, EU, and UK; bank transfer or debit card in the US
Fees as of October 13, 2026. Card fees exclude spreads and any charges from your card issuer.
1. Binance: Best for Liquidity and Low Fees
Binance runs one of the most active SHIB markets. Its SHIB/USDT pair alone traded more than $9 million in the 24 hours to October 13, 2026, according to CoinGecko, so slippage is minimal on typical retail orders. You can also trade SHIB against USDC, FDUSD, and fiat currencies such as EUR and TRY.
The standard spot trading fee is 0.10%, which drops to 0.075% if you pay fees with BNB. Card, Apple Pay, and Google Pay purchases are available in supported regions, and Binance shows the exact fee on the confirmation screen, since it varies by country, currency, and payment provider. Identity verification is required before you can buy SHIB.
Binance.com is not available to US residents. In most states, they can use the separate Binance.US platform, which offers SHIB and in August 2026 added Apple Pay, Google Pay, and debit and credit card funding. Our Binance review covers the exchange’s fees and security in more detail.
Step-by-step on Binance:
Go to binance.com and create an account
Complete identity verification (government ID required)
Deposit via bank transfer, card, or crypto, or buy SHIB directly through Buy Crypto
Navigate to Trade → Spot and search “SHIB”
Choose SHIB/USDT or SHIB/USDC, pick a market or limit order, and click Buy SHIB
Tokens appear in your Spot Wallet as soon as the order fills
2. Coinbase: Best for US Beginners
Coinbase is the most straightforward on-ramp for first-time buyers in the US. The app is clean, and the company is listed on Nasdaq under the ticker COIN and joined the S&P 500 in May 2025, which brings a level of public disclosure not every exchange can claim.
In the US, you can pay with a linked bank account, a debit card, a wire transfer, or PayPal. Coinbase’s SHIB pages for the US, UK, Canada, Germany, and Australia all state that credit cards cannot be used to buy SHIB. The minimum purchase is $1, and fees appear in the trade preview before you confirm: simple buys include a spread plus a transaction fee that depends on your payment method.
Bank transfers through ACH are free to deposit, but the funds may not be immediately available for withdrawal. SHIB trades against USD directly, so no stablecoin conversion is needed. Visit the SHIB page on Coinbase to check the live rate, or read our full Coinbase review.
3. Kraken: Best for Security-Conscious Buyers
Kraken, founded in 2011, is one of the longest-running crypto exchanges and says it was the first to publish proof-of-reserves reports. SHIB trades against the US dollar, and the exchange suits buyers who value a long track record over the lowest possible fee.
Kraken reworked its fees in July 2026. Buying through the Kraken app or Instant Buy costs a 1% trading fee plus a spread, and card, Apple Pay, and Google Pay payments add a processing fee shown before you confirm. Kraken Pro, the order-book platform, charges 0.40% for makers and 0.80% for takers on accounts with less than $2,500 in 30-day volume. Rates fall to 0.30% and 0.60% from $2,500 in 30-day volume, and to 0.22% and 0.38% once you trade $10,000 in 30 days or hold $20,000 on the platform.
In the US, Kraken accepts debit cards only and does not serve residents of New York or Maine; customers elsewhere can use credit and debit cards that support 3D Secure. Card purchases start at $10, weekly card limits range from $1,000 to $5,000, and withdrawals of card-funded purchases can be held for 72 hours.
4. Crypto.com: Best for Mobile Users
Crypto.com’s app is built for phone-first buyers. Its SHIB buying guide lists ACH bank transfers, which are often free, plus credit and debit cards, Apple Pay, and Google Pay. Crypto.com does not publish a fixed card rate: its help center says an admin fee may apply and is shown in the trade preview before you confirm, and its Apple Pay guide says the fee varies by country.
If you want to set your own price, the Crypto.com App supports limit orders, and, where available, the separate Crypto.com Exchange runs SHIB/USD and SHIB/USDT order books.
5. KuCoin: Most Altcoin Exposure
KuCoin lists more altcoin pairs than most exchanges and runs one of the busiest SHIB/USDT markets, with about $10.5 million in 24-hour volume on October 13, according to CoinGecko. Spot fees start at 0.10%, which makes it useful if you want to diversify beyond SHIB into smaller tokens from the same account.
KuCoin has required identity verification for new and active users since August 2023, so it is no longer a no-KYC option. It is also closed to US residents: in January 2025, its operator pleaded guilty in a US federal court to running an unlicensed money-transmitting business, agreed to pay about $297 million, and committed to stay out of the US market for at least two years.
6. Robinhood: Best for US Stock Investors
Robinhood lists SHIB for US customers alongside stocks and ETFs, which is convenient if you already invest there, and it also offers SHIB to crypto customers in the EU and the UK. By default, it charges no separate fee and earns a spread built into the price you see; for some coins, customers can turn on exchange routing, which uses volume-based fee tiers of 0.00% to 0.95%.
Robinhood now lets verified users send SHIB to an external wallet as an ERC-20 transfer, with the estimated network fee added to the amount sent. Enabling transfers can take up to five business days. More active traders can use Robinhood Legend, its desktop platform, where crypto orders always use the fee tiers.
Other options: OKX and Bybit also run active SHIB/USDT markets, with availability depending on your country. Card on-ramps such as MoonPay and Paybis sell SHIB straight to a wallet, usually at higher fees than exchanges charge.
How to Buy Shiba Inu (SHIB) Step by Step
The process is the same on almost every centralized exchange:
Pick a platform available where you live. US residents can choose Coinbase, Crypto.com, Robinhood, Kraken, or Binance.US, but Kraken does not serve New York or Maine, and Binance.US is unavailable in 16 states and territories, including New York and Texas. Binance.com and KuCoin are not open to US residents
Create an account and verify your identity. Expect to upload a government ID and, on some platforms, a selfie or proof of address
Add a payment method. Bank transfers are the cheapest; debit cards, credit cards, Apple Pay, and Google Pay are faster but cost more
Search for SHIB and enter an amount. Most apps let you spend a dollar amount, so you don’t need to count tokens. Use a limit order on the trading screen if you want to set your own price
Review the quote and confirm. Check the spread, the fee, and the final SHIB amount before you tap buy
Decide where to keep it. You can leave SHIB on the exchange or withdraw it to your own wallet over the Ethereum (ERC-20) network
How to Buy SHIB with Credit Card, Apple Pay, or Google Pay
Card payments are the quickest way to buy SHIB, but also the most expensive, and the rules differ between debit and credit cards.
Credit/Debit Card:
In the US, Coinbase and Kraken accept debit cards only, and Coinbase states that credit cards cannot be used to buy SHIB
Crypto.com accepts both credit and debit cards in the US, and Binance.US added debit and credit card funding in August 2026. Card on-ramps such as MoonPay also take credit cards, charging up to 4.5% with a minimum fee of up to $3.99
Outside the US, Binance takes Visa and Mastercard credit and debit cards where available, and Kraken accepts credit and debit cards that support 3D Secure, but Coinbase does not accept credit cards for SHIB in markets such as the UK, Canada, and Australia
Card fees come on top of the spread. Coinbase, Crypto.com, Kraken, and Binance show the exact card fee before you confirm, while MoonPay lists card fees of up to 4.5%
Many card issuers treat crypto purchases as cash advances, which means an upfront fee and interest from day one. JPMorgan Chase, Bank of America, and Citi stopped approving crypto purchases on their credit cards in 2018, and policies still vary by issuer, so check with your bank first
Apple Pay / Google Pay:
Coinbase, Crypto.com, Kraken, and Binance (where available) accept Apple Pay and Google Pay, and Binance.US added both in August 2026
These payments run on the card stored in your phone’s wallet, so card fees and cash-advance rules still apply: Crypto.com shows its card fee in the trade preview, and MoonPay charges up to 4.5%
PayPal:
PayPal does not let you buy and hold SHIB in its own crypto service, which supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, Chainlink, and PayPal USD
US Coinbase customers can buy SHIB with PayPal, and MoonPay accepts PayPal in the US at up to 4.5%
Bank transfers (ACH in the US, SEPA in Europe) remain the cheapest on-ramp. Crypto.com notes that ACH deposits are often free, and Coinbase does not charge for ACH deposits. If you’re buying more than a small amount, funding by bank transfer and then buying SHIB on the exchange usually costs less than paying by card.
Can you buy SHIB with a credit card without verification? Not on the major exchanges. Binance, Coinbase, Kraken, and Crypto.com all require identity checks before you can pay by card. Some on-ramps, such as Paybis, allow purchases of up to $1,000 without identity documents, but you still need an account, and larger amounts require full verification. Treat any site promising anonymous, unlimited card purchases with caution. The main account-free route is a decentralized exchange, and that requires crypto you already own.
How to Buy SHIB Without KYC: Using a DEX
If you already hold ETH or a stablecoin such as USDC in a self-custody wallet, you can buy SHIB without an account on any centralized exchange.
Option 1: ShibaSwap ShibaSwap is Shiba Inu’s native decentralized exchange, built on Ethereum. Connect MetaMask or Trust Wallet and swap ETH or USDC for SHIB directly on shibaswap.com. You pay Ethereum gas in ETH, so keep a little in the wallet; check today’s Ethereum price before you top up. Gas was low in October 2026, with a swap costing about $0.10 on October 12, according to Etherscan’s gas tracker, but fees can spike when the network is busy.
Option 2: Uniswap Uniswap also has SHIB pools. Same process: connect a Web3 wallet and swap ETH for SHIB. On large swaps, it is worth comparing the quote with a DEX aggregator, which routes across several pools and can return a slightly better rate.
For either option, verify the SHIB contract address before swapping. The official Ethereum contract, as listed on CoinGecko, is 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce. Fake tokens with similar names exist, and the official Shiba Inu website is the place to confirm ecosystem details.
Where to Store SHIB After Buying
Leaving SHIB on an exchange is convenient but carries custodial risk. For amounts worth taking seriously:
Hot Wallets (free, good for active traders):
MetaMask: the most widely used Ethereum wallet, supports SHIB natively
Trust Wallet: mobile-first, multi-chain support
Cold Wallets (hardware, best for long-term holding):
Ledger: the Nano X and Nano S Plus, plus the touchscreen Nano Gen5, Flex, and Stax, all hold SHIB through the Ethereum app. See our Ledger review
Trezor: the current Safe 3, Safe 5, and Safe 7 support ERC-20 tokens such as SHIB; the older Model T has been discontinued. See our Trezor review
When you withdraw SHIB to a personal wallet, use the Ethereum (ERC-20) network unless your wallet is set up for another chain. Some exchanges also offer SHIB on other networks, such as BNB Smart Chain. The receiving address can look identical, but tokens sent over a network your wallet doesn’t track can be hard or impossible to recover. Send a small test amount first, double-check the address, and never share your seed phrase.
Scammers target SHIB holders constantly. On October 12, 2026, long-time community member Mazrael warned that a viral “SHIB airdrop” promoted on X was a wallet drainer: the site asks you to connect a wallet and sign an approval that lets the attacker move your tokens. There is no such airdrop. Stick to the official site, shib.io, and treat any link that asks you to “claim” SHIB as a scam. The older shibatoken.com domain stopped redirecting to shib.io in April 2026, so don’t rely on it.
Is SHIB Still Worth Buying?
SHIB traded around $0.0000052 on October 13, 2026, about 94% below its all-time high of $0.00008616 from October 28, 2021, and roughly 51% lower than a year earlier, according to CoinGecko. The token’s trajectory depends largely on whether Shibarium, its Layer-2 network, can generate steady transaction volume rather than speculative spikes.
The past year tested that case. In September 2025, attackers compromised the keys of 10 of Shibarium’s 12 validators and drained funds from its bridge to Ethereum. In February 2026, the team launched “Shib Owes You” (SOU) NFTs, on-chain claims that record what each affected user is owed and are meant to shrink as payouts are made. Activity has stayed thin since: by late August 2026, K9 Finance had wound down and moved its KNINE token and liquidity from Shibarium to Base, and the network was processing about 1,500 transactions a day.
The burn mechanism gets attention, but with about 589 trillion tokens in circulation, even large burns barely move the supply. A one-day burn of 173 million tokens, reported on January 1, 2026, removed roughly 0.00003% of circulating SHIB. Our look at why SHIB’s burn rate is the wrong number to watch explains which metrics matter more.
Our SHIB price prediction for 2026 and beyond breaks down the technical levels and catalysts in detail. For those with a longer horizon, the SHIB forecast through 2030 outlines the bull and bear cases around Shibarium’s long-term growth.
SHIB is a speculative asset. Buy only what you’re prepared to hold through extended drawdowns, and check CoinGecko’s live SHIB data before making any decision.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry significant risk.
FAQ
Can I buy SHIB with a credit card?
Yes, but not everywhere. In the US, Crypto.com accepts credit cards, Binance.US added credit card funding in August 2026, and on-ramps such as MoonPay take them at up to 4.5%. Coinbase does not accept credit cards for SHIB, and Kraken takes only debit cards in the US. Many card issuers treat crypto purchases as cash advances, so check your bank’s fees and interest terms before paying.
Where can I buy Shiba Inu coin in the USA?
US residents can buy SHIB on Coinbase, Kraken, Crypto.com, Robinhood, and Binance.US, but availability depends on your state. Kraken does not serve New York or Maine, and Binance.US is unavailable in 16 states and territories, including New York and Texas. Binance.com and KuCoin do not accept US customers at all. Every platform on this list requires identity verification before your first purchase, so have a government ID ready.
How much SHIB can I buy for $100?
At about $0.0000052 per token on October 13, 2026, $100 buys roughly 19.2 million SHIB before fees. The amount you actually receive depends on how you pay: card purchases add processing fees on top of the spread, while bank-funded trades on an order book such as Kraken Pro or Binance cost less. The price changes constantly, so check the final SHIB amount in the quote before you confirm.
Can I buy SHIB with Apple Pay, Google Pay, or PayPal?
Yes. Coinbase, Crypto.com, Kraken, and Binance accept Apple Pay and Google Pay where available, and Binance.US added both in August 2026. These payments use the card in your phone’s wallet, so card fees still apply. PayPal’s own crypto service does not support SHIB, but US Coinbase customers can buy SHIB with PayPal, and MoonPay accepts PayPal in the US at up to 4.5%.
Is Shiba Inu available on Robinhood?
Yes. Robinhood lists SHIB in all US states and also offers it to crypto customers in the EU and the UK. By default, US trades carry no separate fee, with Robinhood earning a spread built into the price, and for some coins customers can switch to exchange routing with fee tiers of 0.00% to 0.95%. Verified users can withdraw SHIB to an external wallet as an ERC-20 transfer.
Can I buy SHIB without verification?
Not on the major exchanges. Binance, Coinbase, Kraken, Crypto.com, and KuCoin all require identity verification before you can buy. Some on-ramps, such as Paybis, allow purchases of up to $1,000 without identity documents, but you still need an account. The main account-free route is a decentralized exchange such as ShibaSwap or Uniswap, where you swap ETH or USDC from a self-custody wallet for SHIB.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Just $1 worth of SHIB was burned in the last 24 hours, according to the Shibburn page, highlighting the relatively small scale of the burn activity over the past day.
According to the Shibburn page, 192,678 SHIB was burned in the last 24 hours. This small amount follows the Shiba Inu burn page seeing a brief disruption, which interrupted visibility into the latest burn figures, making burn activity unavailable for users checking the tracker. This caused the total burn in the last 24 hours to briefly show $0.
Shortly afterward, the reported 24-hour burn total showed 192,335 SHIB burned, with burn activity now available. While the update suggests that burn activity is being reported again, the figure remains modest compared with larger burns that have occasionally attracted attention within the Shiba Inu ecosystem. Subsequently, the daily burn rate fell 14.22%.
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In the last seven days, a total of 176.35 million SHIB was burned, and a total of 709.44 million SHIB was burned in the last 30 days.
SHIB priceThe crypto market largely traded in the red as liquidations rose 143% in the last 24 hours to $759 million. Heavy trading, shrinking open interest (OI) and forced closures might imply leverage is being flushed out, not added.
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At the time of writing, SHIB was down 3.64% in the last 24 hours to $0.00000522 following yesterday's price crash. SHIB price further fell to a low of $0.00000502 before slightly recovering.
Investors look ahead to key economic data releases this week, including the latest inflation print.
September's annual inflation rate, due out Wednesday, is expected to come in at 3.7%, according to consensus forecasts, up from August's 3.4% print. Consumer prices, which exclude food and energy, are expected to rise to 2.5% from 2.4% in August on an annualized basis.
The inflation data will be followed on Thursday by September's monthly producer price index and retail sales data.
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
While major cryptocurrencies remain choppy, STX, the native token of the Bitcoin layer-2 project Stacks, is rallying. The cryptocurrency has surged nearly 10% in 24 hours, 14% over the past week and more than 50% in four weeks, outperforming bitcoin BTC$83,473.49, ether ETH$2,515.18, XRP (XRP) and other cryptocurrencies.
The outperformance likely reflects investor interest in Stacks’ non-custodial bitcoin staking architecture. This framework lets BTC holders stake and earn yield directly on the main Bitcoin blockchain while retaining strict control of their private keys. In contrast, traditional frameworks require users to wrap their assets into synthetic tokens (like wBTC) or move funds over cross-chain bridges to earn additional yield.
Stacks’ framework relies on a mechanism called "bonding," which requires participants to lock up assets to secure the network. The "Bonding Period 3,” due in November, requires participants holding native STX to lock a specific ratio of STX alongside their BTC — equivalent to roughly 5% of the total value of their BTC — to successfully secure protocol stacking capacity.
This creates a positive feedback loop for STX: As more BTC moves into the Stacks ecosystem, a larger portion of STX is systematically locked up and removed from the active market. By tying bitcoin liquidity directly to STX scarcity, the architecture skews demand-supply dynamics heavily in favor of long-term price appreciation.
Period 3 follows Periods 1 and 2, which served as preparatory phases to safely transition signers and bootstrap initial liquidity.
STX is not the only coin to have surged over 24 hours. BDX, REDNER, and PYTH are other major gainers, adding 6% each. It’s a sign of liquidity increasingly pivoting to coins other than the major cryptocurrencies.
Still, the broader context remains tightly bound to macroeconomic indicators. Analysts are getting ready for Wednesday’s U.S. Consumer Price Index (CPI) report, which could heavily influence expectations for upcoming Federal Reserve interest-rate decisions. Stay alert!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."
What’s trendingLedger says 'spy' chip inside CryptoBilis Ledger devices transmitted wallet keys over mobile network (CoinDesk): Covert hardware implanted in some Ledger crypto wallet devices read users’ 24-word recovery phrases and sent them to an attacker over a mobile phone network.Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower (AP): Global shares were mixed, but a selloff in chipmaker shares pulled Asian shares lower, with South Korea’s benchmark Kospi index falling more than 5%. U.S. futures edged higher, and oil prices fell.Bitcoin whale that sat through the March 2020 crash moves $378 million (CoinDesk): A bitcoin whale who received their coins days before the Covid crash of March 2020 and sat through it has moved $377.6 million worth of BTC.U.S. Treasury yields fall as energy prices pull back (CNB): Bond yields fell after energy prices dropped in early trading as investors looked ahead to key economic data releases this week.Today’s signalEther's daily chart. (TradingView)The chart shows ether’s daily price swings in candlestick format.
The second-largest crypto by market value has fallen back into its established yellow consolidation rectangle. It is currently clinging tightly to that range.
If prices break past the upper end of the consolidation, the market may revisit the recent high of $2,800. If the dual support of $2,400 — the lower end of the consolidation and the bullish channel — gives way, then it would mean an end to the rally from the July lows.
Stacks (STX) has climbed 6.74% in the past 24 hours to $0.4119, extending its weekly gains to 10.28% as interest grows around the network’s Bitcoin staking program and its upcoming November bonding period.
Summary
Stacks gained 6.74% over 24 hours and traded near $0.4119, according to supplied CoinGecko data. STX recorded $108.7 million in daily trading volume, with market capitalization reaching approximately $772 million. Stacks requires participants to lock STX worth 5% of their Bitcoin holdings for protocol bonding. Analyst Elite Crypto identified $0.476 resistance and suggested $0.70 as a potential breakout price target. The third Bitcoin staking bonding period is expected around November 10, according to CoinMarketCal’s calendar. CoinGecko market data showed STX recording approximately $108.7 million in daily trading volume, with a market capitalization of $772.4 million. The cryptocurrency traded between $0.3776 and $0.46 during the previous 24 hours, outperforming several major digital assets during the observed period. Its gains followed the launch of Stacks’ institutional Bitcoin staking program, which requires participants to lock STX alongside their Bitcoin holdings.
Stacks price rises as Bitcoin staking attracts attention According to CoinGecko data, STX had risen 10.28% over seven days, while another performance snapshot showed gains of 29% over 14 days and 51.5% over 30 days. The token remained approximately 89.3% below its all-time high of $3.86 despite the recent recovery.
Stacks’ rally comes as the blockchain develops financial services that allow Bitcoin holders to earn BTC rewards without transferring their assets through traditional cross-chain bridges. Its self-custodial staking system lets participants lock Bitcoin directly on the main Bitcoin blockchain while retaining control of their private keys.
Stacks Labs explained that participants must pair their BTC with STX worth approximately 5% of the Bitcoin position’s value. The required STX allocation determines the staking capacity a participant can access during a bonding period.
The program distributes Bitcoin rewards generated through Stacks’ Proof of Transfer mechanism. Miners contribute BTC when competing to produce blocks, and the network allocates those rewards to eligible participants.
Under the initial arrangement, approved participants lock their assets for approximately six months and receive BTC rewards weekly. Stacks has stated an annualized target yield of approximately 3%, although the actual amount depends on mining activity and network conditions.
The recent STX price rally linked to Bitcoin staking followed growing participation in the protocol’s first institutional bonding program. The initial Genesis Bond attracted approximately 230 BTC and 3.57 million STX from participants including 21Shares, HashKey Cloud, UTXO Management and Sypher Capital.
Stacks prepares third Bitcoin staking bonding period Following the initial program launch, attention has turned toward Bonding Period 3, expected to open around November 10. CoinMarketCal listed the event as the next stage of Stacks’ Bitcoin staking program, although the calendar date remains an estimate.
Under the protocol’s current design, participants must lock STX valued at 5% of their bonded BTC holdings. The mechanism creates demand for STX from users seeking to access Bitcoin staking capacity, with the required quantity determined by the value of the Bitcoin committed.
For example, a participant bonding $1 million worth of BTC would need approximately $50,000 in STX under the current ratio. The requirement applies to the initial PoX-5 phase, while the future PoX-6 system is designed to determine its ratio through market-based mechanisms.
Stacks Labs confirmed in its October 7 technical update that PoX-5 began operating after the July 30 hard fork. During this phase, the Stacks Endowment sets bonding capacity, target yield and the BTC-to-STX ratio.
Each bonding period lasts approximately six months, with new periods opening around once a month. Direct participation remains limited to approved participants during the initial phase, while pooled staking provides another route for users seeking exposure.
The subsequent PoX-6 phase is intended to remove the whitelist and introduce open auctions for staking capacity. Stacks Labs has not announced a confirmed activation date, saying the next phase depends on development progress and governance approval.
STX price approaches key resistance near $0.45 Following the recent rally, STX has approached an important resistance region between $0.45 and $0.476. Crypto analyst Elite Crypto suggested that the token had broken out of a descending wedge pattern after reclaiming earlier price levels around $0.203 and $0.288.
While $BTC is pulling back, $STX is moving in the opposite direction.
STX has broken out of a long descending wedge and reclaimed the $0.203 and $0.288 levels. Price is now pushing toward $0.476 resistance.
Normally, STX tends to take cues from BTC because it's part of the… https://t.co/ZGZJ3jEzoD pic.twitter.com/RSATIKd8th
— Elite Crypto (@TheEliteCrypto) October 13, 2026 The analyst identified $0.476 as the next resistance level and outlined $0.70 as a possible target if STX breaks above that threshold. His projection depends on confirmation of the breakout and does not establish that the cryptocurrency will reach the proposed price.
The supplied daily chart showed STX recovering from August lows near $0.12, forming higher highs and higher lows through September and October. Its latest recorded daily high was $0.4502, while support remained near $0.40, followed by 0.35–0.37.
The Moving Average Convergence Divergence indicator supported the recent bullish price structure, although momentum showed signs of slowing. The MACD line stood at 0.0307, slightly above its signal line at 0.0301, while the histogram remained positive at 0.0006.
The narrow distance between the two MACD lines indicated that upward momentum had weakened compared with earlier stages of the recovery. A bearish crossover would increase the possibility of short-term consolidation or a correction, according to the supplied technical analysis.
Stacks (STX) price chart, source: TradingView Meanwhile, the Relative Strength Index stood at 70.95, above its moving average of 68.15. The reading placed STX slightly above the conventional overbought threshold of 70, indicating strong buying momentum alongside increased potential for profit-taking.
A sustained move above $0.45 would strengthen the near-term bullish structure, while a drop below $0.40 could expose the cryptocurrency to lower support around $0.35.
Bitcoin staking program continues expanding through PoX-5 The Stacks Bitcoin staking system began its institutional rollout in September 2026, with the Genesis Bond opening to approved participants. Stacks Labs announced that the program included participation from UTXO Management, 21Shares, HashKey Cloud and Sypher Capital.
Through the protocol, Bitcoin remains locked on the main network using timelock transactions, while the corresponding STX position is committed on Stacks. Participants retain their Bitcoin keys, and the protocol does not use wrapped BTC for its self-custodial staking arrangement.
The system does not include protocol-level slashing of bonded BTC, according to Stacks Labs. However, participants remain exposed to changes in STX prices, the period during which their assets are locked and potential risks involving new smart contracts.
Stacks’ technical documentation states that early withdrawals can return bonded BTC while forfeiting remaining yield. The paired STX commitment remains locked for the original bonding period.
The protocol’s next development stage, PoX-6, will require another governance proposal and approval through the Stacks Improvement Proposal process. Stacks Labs said engineers would use data gathered during PoX-5 to determine the auction mechanisms, reward calculations and participation requirements for the future system.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Just recently, Binance has made an announcement that it will close Binance Pool mining service operations by November 10, 2026, at 07:00 UTC. As a result, affected miners will have to join other companies. The company tweeted:
As part of our ongoing review of products and services, Binance will discontinue Binance Pool and related services on 2026-11-10 at 07:00 UTC. This includes Pool Savings, Cloud Mining, Transaction Accelerator, and related features.
In accordance with the news, the termination will stop all mining connectivity and mining share submissions after the specified date. The other services like Pool Savings, Cloud Hashrate, Transaction Acceleration and mining pool API services provided by Binance will also be terminated.
Even though Binance Pool is going to close down, it does not mean that the mining of bitcoin will cease. This is mainly because Miners can contribute mining computing power in other competing pools.
Will Binance Pool’s Closure Affect BTC Prices? The immediate impact on Bitcoin (BTC) prices could remain limited if miners migrate successfully and maintain their operations. Since the announcement, BTC miners’ activity has not changed as such.
Bitcoin miner outflows have just slightly increased but there is no notable landslide move or behavioural change. The distribution is still conforming to normality. However, the analysis is based on the recent data, just hours after the announcement.
Source: CryptoQuant As per the announcements, miners can join mining pools to pool their computational power and get more reliable payouts. In this regard, the shutdown of Binance Pool will likely lead to a redistribution of the hashrate between competing pools rather than its total elimination.
Nevertheless, some delays during switching to another pool can cause idle time of the mining hardware and decrease profits of the corresponding miners. In case of increased pressure on miners financially, some may be forced to sell their Bitcoins, which will result in additional selling pressure.
Either way, the above-mentioned situation cannot be considered confirmed by the announced news. Time will tell.
As it stands, Binance’s announcement has not resulted to any significance change on either BTC or its native token, BNB. At the time of writing BTC has just booked a 0.05% drop while BNB has dropped by 1.48%.
Binance will close Binance Pool and several services related to crypto mining on November 10, 2026, at 07:00 UTC. Pool Savings, Cloud Mining, and Transaction Accelerator will also disappear. The exchange is already asking miners to redirect their machines to another pool. Binance does not give any specific financial or regulatory reason and simply talks about a regular review of its products and services.
In brief
Binance Pool will close on November 10 at 07:00 UTC.
Cloud Mining, Pool Savings, and Transaction Accelerator will also disappear.
Miners will need to reconfigure their machines before shutdown.
Binance closes its crypto mining pool after six years
The decision ends a service launched on April 27, 2020. Binance Pool started with Bitcoin mining and an FPPS model designed to distribute revenue more evenly among participants. Like other Bitcoin mining pools, it allows crypto miners to pool their computational power and smooth out their rewards.
Six years later, Binance shuts everything down. Starting November 10 at 07:00 UTC, Stratum addresses and the various connection points used by machines will be disabled. Any computational power sent after this time will no longer be accepted, processed, or credited.
The closure goes beyond the crypto pool alone. Pool Savings, Cloud Mining, Transaction Accelerator, hashrate alerts sent via Telegram, certain email notifications, and mining-related APIs are also affected.
Links to Binance Pool will disappear from the site the same day. However, the pages will remain accessible until November 24 at 07:00 UTC to allow users to consult their history, accounts, and payment status. Afterwards, they will become permanently inaccessible.
Miners must migrate before November 10
Binance asks users not to wait for the shutdown. Machines currently connected must be configured to another crypto pool before November 10. Positions still active in Pool Savings must also be withdrawn or refunded.
The last eligible rewards will be calculated from the shares submitted before the shutdown. Binance will then be able to process balances, refunds, and remaining settlements according to the rules of the products concerned and the applicable compliance checks.
The timing arrives during an already complicated period for mining the leading crypto. In June, mining difficulty had dropped by 10.09% after a significant contraction in the network’s computational power. Profitability remains sensitive to the price of bitcoin, the cost of electricity, and the performance of new generations of machines.
The exact size of Binance Pool also deserves clarification. It is said to be nearly 65 EH/s, or 7 to 8% of Bitcoin’s hashrate. Public data from mempool.space shows a much lower figure: for the week of September 28, Binance Pool represented about 15.09 EH/s, or 1.61% of the network. The methodologies are not identical. It is therefore better to avoid presenting the 7 to 8% as an indisputable measure.
Binance does not give a specific reason
The exchange remains very discreet about the reasons for this closure. Its official announcement only mentions a “continuous review” of its products and services. Binance does not cite any decline in profitability, regulatory constraint, or technical problem.
It is therefore impossible to officially attribute the decision to any of these factors. However, the sector is changing rapidly. Several historic mining companies are reducing some capacities or seeking more revenue in data centers and computing for artificial intelligence.
In six months, the realized hashrate of listed miners tracked by Blocks Bridge Consulting had declined by 21.2% excluding Bitdeer. Binance chooses a more radical path for its own service: complete closure. This does not mean the end of Bitcoin mining. The power currently directed to Binance Pool can simply migrate to Foundry, Antpool, ViaBTC, F2Pool, or other competitors. For Binance Pool users, the important date is now known: November 10, 07:00 UTC.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The late September surge for Quant [QNT] has been followed by an ongoing battle between decreasing purchasing power and aggressive seller activity.
The price rose from under $100, reaching a high of $373.66 before it was sharply rejected due to traders locking in profits.
After reaching $325, buyers were unable to recover their peak high, creating a new low high. This simply indicated diminishing demand. Since the 2nd of October, selling activity has slowly forced the price down into the $215-$220 area of support.
As of writing, the token had declined by 6% in the last 24 hours, trading at $219.34. This was an over 72% decline from the September high.
QNT’s current downward trend is becoming increasingly concerning. Each time the market rebounds, volume appears to decrease. Hence, if the price repeatedly touches its support areas, it will exhaust all potential buy order levels.
Source: TradingView
A four-hour close below $215 could trigger stop-loss selling toward $160–$180, threatening to erase much of the breakout’s remaining gains. However, a strong recovery above $225 after briefly dipping below support would suggest buyers are absorbing supply.
That could open a relief rally toward $250–$255. Until then, QNT remains vulnerable to a deeper correction.
QNT Open Interest falls as leverage unwinds
QNT’s rally was fueled by a surge in derivatives exposure. However, falling Open Interest (OI) now signals an ongoing market reset. From July through September 23, open interest remained near $11–$15 million as the price traded around the $60–$70 zone.
Source: CoinGlass
However, after the price broke out of this range and rose towards $373.66, the OI also moved up to $190 million.
Despite the downward trend, price and derivatives exposure remained high near $180-$190 million through mid-October, causing liquidation risk due to the trader’s position size.
Since the 2nd of October, OI has declined toward $120 million as QNT fell toward $225.81. This indicates that there are no massive additions to OI but rather liquidation of existing long positions.
Furthermore, the Funding Rates have shown a trend of repeated dips below zero and even reached a record low of -0.27% on the 4th of October prior to returning to neutral.
Source: CoinGlass
This combination suggests traders are closing positions rather than adding fresh exposure, weakening the case for an immediate recovery.
These movements indicate increased aggressive short selling activity within the futures contracts. However, funding rates cannot be used independently to determine market direction.
Looking forward, should QNT fail to hold above $215, additional closes may drive prices down to $196 or lower.
Conversely, rising prices alongside expanding open interest would provide stronger evidence of renewed conviction and a potential recovery.
Final Summary
Quant [QNT] faces further downside if selling pressure breaks $215 support.
QNT open interest drops from $190 million to $120 million as leverage unwinds.
Bitcoin OG @LLuciano_BTC shared his altcoin picks for the next six months, including Avalanche ($AVAX), Sui ($SUI), NEAR Protocol ($NEAR), Chainlink ($LINK), Stellar, Quant ($QNT) and Ondo.
Crypto commentator @LLuciano_BTC, a long-time Bitcoin holder with nearly 2 million followers, has published a list of the tokens he is watching over the next six months. The picks are grouped into five categories, running from layer-1 networks to decentralised finance (DeFi).
The assets highlighted from the list include Avalanche (@Avax, $AVAX), Sui (@SuiNetwork, $SUI), NEAR Protocol (@NEARProtocol, $NEAR), Chainlink (@Chainlink, $LINK), Stellar (@StellarOrg, $XLM), Quant (@quantnetwork, $QNT) and Ondo (@Ondo, $ONDO). The full list contains more names than those shown here.
What the selected tokens have in commonThe names cover a mix of base-layer blockchains and infrastructure projects. Avalanche, Sui and NEAR compete as smart contract platforms, while Chainlink, Quant and Ondo are tied more closely to the tokenisation of traditional financial assets.
That second theme has been gaining ground. Ondo is a platform for tokenising real-world assets such as US Treasuries and stocks, according to CoinMarketCap. In October 2025, Ondo Finance and Chainlink announced a strategic partnership that made Chainlink the official oracle provider for Ondo's tokenised stocks and ETFs, with its cross-chain protocol (CCIP) named the preferred solution for institutional cross-chain use.
Chainlink and Ondo have also worked with JPMorgan's blockchain unit. The Block reported that Kinexys, Chainlink and Ondo completed a test transaction that settled a tokenised US Treasuries fund across a public and a permissioned network.
Quant has also been linked to the sector. Coin-Turk reported that Quant, Ondo and Chainlink rallied sharply as real-world asset tokens advanced, with Quant's gains tied to UK banks using its infrastructure for tokenised deposit transactions.
A watchlist, not financial adviceLists like this reflect one person's view and do not predict how any token will perform. Crypto assets are volatile, and prices can move sharply in either direction over a six-month window. Readers should do their own research before acting on any watchlist.
Sources
PR Newswire: Ondo and Chainlink strategic partnershipThe Block: JPMorgan, Chainlink and Ondo Finance cross-chain settlement testCoinMarketCap: What is Ondo (ONDO)
Memecoins and Web3 have often been considered two separate worlds.
While Web3 projects are usually focused on building the utility blockchain ecosystem around a particular idea, memecoins like FLOKI rarely get this kind of attention. FLOKI’s sister project TokenFi, however, seems to be challenging this narrative with the release of Shield AI, an AI tool designed to scan smart contracts for potential bugs and security risks prior to launch.
In a X post, FLOKI’s developers described the project as part of “building the future of Web3.” The development of it is a sign that memecoin projects are beginning to look past their role as speculative assets and move into the realm of actual applications, like the use of AI for smart contract security.
Source: X
That said, how does AI integration exactly work in memecoin space? TokenFi unveiled that on X, describing how the adoption of Shield AI would bring the FLOKI ecosystem one step closer to its broader Web3 vision.
Smart contract bugs can be expensive to fix if not discovered before launch. TokenFi Shield helps developers with its AI-based vulnerability discovery tool that identifies potential issues so they can be fixed before launch. This increases the security of a project but should not be considered an alternative to a professional smart contract audit.
In short, the projects within the FLOKI ecosystem can utilize the power of AI for smart contract vulnerabilities to prevent such issues in the future, thus ensuring the safety of their users and potentially saving millions in losses. Naturally, the question becomes: Could this put FLOKI at the forefront of AI-driven Web3 innovation?
Can AI-integration strengthen FLOKI’s Web3 ambitions?
Floki [FLOKI] is rapidly transforming from a memecoin to a comprehensive crypto ecosystem.
For context, the main projects of the token are Valhalla, the blockchain-based NFT game, FlokiFi, the DeFi platform, and TokenFi, the tokenization utility. Apart from NFTs and DeFi, FLOKI also provides crypto trading services, staking, and Web3 technology to build an entire crypto experience around the token.
That makes Shield AI the latest addition to this line-up. But what does that mean for this ecosystem? As can be seen in the graph below, FLOKI’s smart contract transaction count fell from 80.4k in Q4 2024 to 26k in Q3 2026. This metric shows the number of transactions made with FLOKI’s smart contracts to perform on-chain operations. Thus, the drop in the transaction count indicates a decrease in the activity of these contracts.
Source: Token Terminal
Against this backdrop, Shield AI could be a key step for FLOKI.
With Shield AI, TokenFi seeks to improve smart contract safety by identifying possible vulnerabilities ahead of time. But whether it will gain much traction is another matter. If it does take off and developers adopt it to build within the FLOKI ecosystem, it will likely propel the token to greater adoption on-chain and expand its capabilities beyond just a memecoin.
Still, the move suggests that FLOKI is expanding its Web3 ecosystem. So, if it drives increased developer activity and on-chain engagement, it could help FLOKI gain a stronger foothold in the Web3 space.
Final Summary
Shield AI helps detect smart contract risks before launch.
More developer adoption could boost the memecoin’s on-chain activity.
An audit can reduce risk, but it can never guarantee that a DeFi protocol is safe. 1inch spoke to Vik from BailSec about what smart contract audits actually tell us, the risks that exist beyond the code and what stood out when BailSec audited 1inch Aqua.
Smart contract audits have become a standard part of DeFi security. But hacks still happen to audited protocols. And increasingly, the weak point may not be the smart contract at all.
So what does an audit really prove? And how should you assess the security of a new architecture such as 1inch Aqua?
1inch spoke to Vik from BailSec, one of the security firms that audited Aqua, about the limits of audits and the security implications of Aqua’s approach to liquidity.
When you assess the security of a DeFi protocol today, what are the biggest risks you look for beyond obvious smart contract bugs?Many risks come from beyond the code. We look at the ecosystem itself, composability, design patterns, economic attacks and governance.
Ecosystem-level risks involve things like flash loans, liquidity manipulation, unusual token variations and potential breaks caused by future EVM hard forks.
Composability is a core value proposition of DeFi. But it also means a system may be used in ways its authors did not intend when they wrote it. Assessing that risk requires long experience with protocol security and a broad understanding of how people actually use smart contracts.
Design patterns matter as well. Established standards such as ERCs and well-understood techniques can lead to more robust interactions. A well-designed protocol uses established patterns to solve standard problems so developers can focus on the parts that are genuinely new.
Then there are economic attacks. These include second-order vulnerabilities that go beyond smart contract security and require familiarity with how DeFi products actually get used.
Finally, there is governance risk. The question is: what happens if a trusted part of the system is not so trusted? A well-designed system takes a defense-in-depth approach and limits even privileged roles to the minimum permissions they need.
How should teams think about the limits of an audit? What can a strong audit establish and what can it never guarantee?Auditors are skilled experts, but they are limited by the scope of the engagement. We are limited both by time and by which portions of the system are under review.
An audit is also time-bound. If the client introduces additional complexity in the middle of the engagement, it may no longer be possible to achieve the coverage that the original time estimate was intended to provide.
And auditors can make mistakes. At BailSec, we rigorously test the auditors we work with and hire some of the best auditors in the space to dramatically reduce the risk that an auditing team misses a substantial bug. But that risk is never zero.
If an audit report contains many medium- and high-severity findings, that density can suggest there may be more bugs remaining after the review. In that case, we recommend engaging another audit team for a second round.
The development team might also change the code after the audit. We cannot ensure that those changes do not introduce new bugs or violate invariants that were verified during our audit.
Even without any of those issues, an audit can never guarantee that a codebase is bug-free or cannot be hacked. It provides a high degree of assurance that the system behaves as designed. It is not proof.
Even formal verification cannot ensure that a codebase is entirely free of unexpected behavior. Formal verification establishes that reviewed code matches a formal specification, but the specification itself may be incomplete. It could miss an attack vector. And the code eventually deployed may not be the code that was reviewed.
Smart contract audits used to be mostly about the contracts themselves. How much does security now depend on protecting the whole stack?Infrastructure and key compromise have become a major root cause of losses across the ecosystem by dollar value.
Unless otherwise specified, a smart contract audit typically does not include those components. Some may also contain intellectual property or trade secrets that a project does not want to disclose to a third-party smart contract auditing firm.
That makes it difficult for us to ensure that the combination of APIs, the frontend, infrastructure and other off-chain components maintains the invariants intended by the team.
Good smart contract design can go a long way toward mitigating these risks. Where possible, logic can be moved from off-chain components on-chain, while the mutability of on-chain components can be minimized.
Immutability is a desirable quality in a robustly designed smart contract system because it reduces exceptions and assumptions and can provide a higher degree of assurance.
What do SOC 2 and ISO 27001 cover that a smart contract audit cannot?These security controls and certifications help cover a missing component: the combination of smart contracts, off-chain components and the larger organization operating them.
The frameworks address the organization that builds and operates the system, including access controls, key management, change management, vendor risk and incident response.
Supply-chain attacks have also become a greater risk in recent years. These standards provide evidence that an organization has taken steps to reduce that risk. Controls over endpoints and personnel can also help reduce the risk of insider attacks.
There is an important distinction within SOC 2 between a Type I attestation, which looks at controls at a point in time, and Type II, which covers how controls operate over a period of time.
But SOC 2 and ISO 27001 are not magic bullets. Just as a smart contract audit cannot completely prevent a hack, these frameworks cannot eliminate risk. They reduce the risk caused by weaknesses in other components of the system.
BailSec audited 1inch Aqua earlier this year. What was unusual or particularly interesting about Aqua from a security perspective?First of all, Aqua was something very fresh and new to the DeFi world, which was refreshing for us to review. It was not another fork of something else.
Aqua has a special design in two respects. It allows a high degree of customizability and flexibility in the strategies through which market makers deploy their capital. And it increases capital efficiency by allowing makers to deploy the same capital into multiple strategies.
That customizability puts more responsibility on the software components used to design strategies. They need to follow robust compositional rules and avoid invalid strategy configurations that could result in a loss of funds.
Deploying the same capital across multiple strategies also means that, while capital efficiency increases, the exposure of a maker’s capital to an economic vulnerability in a strategy can increase as well.
Another unusual feature is the requirement for takers to explicitly specify the maker strategies they interact with. That is an inversion of the typical AMM design, where multiple makers put capital into a single pool and interaction with it does not depend on the number of underlying makers.
Aqua lets liquidity remain in the maker’s wallet until a taker fills a position. Does that create additional risks?Aqua’s design eliminates certain classes of attacks that can drain capital held in liquidity pools. Eliminating that line of attack improves the security posture of the design.
It also gives makers an effective mechanism for cutting off their exposure to undesirable strategies by docking or revoking allowances.
Some risk is not fully eliminated but instead moves from balances held in pools to ERC-20 allowances. Still, the overall posture is an improvement.
What about double-spending? If the same balance backs multiple strategies, can the same liquidity be used twice?The smart contracts themselves ensure that liquidity cannot be used twice.
But shared capital does mean that one strategy may run out of available liquidity because a neighboring strategy has consumed it.
It is also important to keep this shared-capital model in mind when calculating aggregate market depth, TVL or available liquidity. Otherwise, off-chain components that do not understand how the system works could count the same liquidity twice.
So the liquidity cannot be spent twice by the smart contracts, but it can potentially be counted twice by off-chain systems.
Aqua gives takers more flexibility. Can that flexibility also increase risk?Yes. The order in which liquidity is consumed by the taker can affect the price at which future swaps take place.
Off-chain components that assess liquidity therefore need enough domain knowledge to sequence interactions appropriately.
For makers, a single economically risky strategy could potentially produce losses affecting the capital deployed across strategies. For takers, the main risk is that a particular maker may run out of capital during a swap because of collateral sharing. Systems deciding how to use the available liquidity need to account for that.
All swaps should also be protected by appropriate slippage limits to reduce exposure to risks such as MEV and front-running.
Aqua has been audited. Does that mean it is safe?An audit cannot ensure total safety. The fact that Aqua has undergone multiple audits is a strong indication that its authors take security seriously. It also provides evidence that the security of the system has been improved from its initial implementation.
But protocol security is a continuum. It is not a single state. Completing audits with multiple expert teams moves a protocol further along that continuum, but issues can still slip through an auditor’s review. That is why it is important to engage multiple teams and put as many expert eyes as possible on the contracts.
Users should also consider the risks of interacting with DeFi products and avoid exposing themselves to losses they cannot tolerate.
For sufficiently technical users and partners, the published audit reports themselves provide details about the potential pitfalls of the system and exactly what the auditing teams considered as part of their reviews.
At BailSec, we always recommend reading the reports. For non-technical users, AI tools can now also make it much easier to summarize audit findings and understand what a report actually says about a protocol’s security.
Security is never a finished job. Audits, careful protocol design and ongoing review can reduce risk, but none can turn DeFi into a risk-free environment.
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Ripple partners with Stripe-owned Privy to introduce embedded wallet functionality for the XRP Ledger.
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