Cardano’s (ADA) price has come under pressure, declining 2.3% in the last 24 hours to $0.2248, despite a substantial rise in the network’s stablecoin market capitalization. Data from Cardanians (CRDN) shows that Cardano’s stablecoin market cap has expanded by 25.8% over the past 90 days, climbing to $68.3 million.
Stablecoin growth and top contributorsThis jump in stablecoin capitalization highlights growing activity in Cardano’s ecosystem, as dollar-pegged assets play a larger role in decentralized finance (DeFi) trading and application usage. According to Cardanians, USDC currently leads with $44.4 million, followed by USDM at $13.5 million and RealFi’s USDrf at $5.1 million.
Stablecoin market cap on Cardano $ADA has grown by 25.8% in the past 90 days. Currently it’s at $68.3M, led by USDC with $44.4M. RealFi’s USDrf launched just recently and has already reached $5.1M. Great to see the growth, hoping to see $100M+ soon!
The increase in stablecoin balances signals that users are increasingly utilizing Cardano for transactions, DeFi applications, and transfers, without frequently moving assets into traditional currencies.
Mini dictionary: Cardanians is a Cardano-focused analytics and advocacy community that tracks on-chain data, network metrics, and ecosystem trends. They share insights on ADA’s performance and growth, often through social media channels such as X.
ADA price under pressure, key technical levels in focusDespite the stablecoin uptrend, ADA’s price remains subdued. Technical charts from TradingView reveal that ADA fell back after touching $0.28 in early October, sliding below resistance at $0.2432. Traders now focus on the crucial support level near $0.2053, which could determine whether the token stabilizes or faces further downside.
A move above $0.2432 would see ADA return to its recent trading range, though bulls must sustain buying pressure to advance a recovery. Until then, ADA continues to trade below resistance, keeping sentiment uncertain.
StablecoinMarket Cap ($ million)USDC44.4USDM13.5USDrf5.1Total68.3If ADA maintains support above $0.2053, it could allow time for consolidation. A breakdown below this zone, however, would increase risk of further declines.
Technical indicators and market signalsCardano’s Relative Strength Index (RSI) is currently at 42.82, below its moving average of 53.70, suggesting weakening bullish momentum. The RSI remains above the oversold threshold of 30, meaning the market yet waits for a clear oversold signal.
The On-Balance Volume (OBV) indicator has dropped to approximately 45.25 billion, consistent with declining buying interest. Although both indicators suggest softer demand, traders look for signals such as the RSI rising above 50 or an uptick in OBV before confirming a turnaround.
Open interest and DeFi metricsCoinGlass data reveals that ADA futures open interest has decreased from around $650 million in early October to about $500 million now. Liquidations have been observed on both long and short positions during recent volatility, indicating that leveraged traders face pressure in both directions.
Decreasing open interest may reflect reduced speculative positions, but does not in itself confirm whether investors are favoring bullish or bearish bets. Monitoring stabilization in open interest, along with price momentum and support levels, could provide clearer insight for traders.
Separately, DeFiLlama shows Cardano’s total value locked (TVL) has reached $65.21 million, while decentralized exchange (DEX) volume stands at $1.45 million for the past day. These figures highlight ongoing activity in Cardano’s DeFi ecosystem as stablecoin balances grow.
While higher stablecoin capitalization indicates expansion, it does not guarantee an increase in DeFi participation or demand for ADA itself. Traders continue to watch for a link between rising on-chain volumes, ecosystem usage, and a shift in price momentum.
In the near term, ADA’s outlook hinges on whether positive network indicators join with technical recovery moves—such as recapturing the $0.2432 resistance and improving RSI and OBV readings. Conversely, losing the $0.2053 support could place the token at greater risk of further losses even amid ecosystem advances.
DTCC tento měsíc spustí tokenizační službu na Canton Network a Besu pro 25 akcií, ETF a amerických státních dluhopisů, přičemž tokeny budou kryté v poměru 1:1.
DTCC will launch its Tokenization Service on the Canton Network and Besu this month, with Stellar (XLM) and Circle's Arc expected to join in 2027, per its roadmap.
DTCC (@The_DTCC) will launch its Tokenization Service this month on the @CantonNetwork and Besu, DTCC's private network. The service starts with 25 stocks, ETFs and US Treasuries, tokenized 1:1 with securities held at DTC and transferable 24/7 between registered wallets. DTCC puts the pool of assets available to tokenize at about $30 trillion.
@StellarOrg and Circle's @arc are expected to join in 2027, per DTCC's roadmap, which the company says may still change.
From no-action letter to commercial launchThe rollout follows a December 2025 no-action letter from the US Securities and Exchange Commission. According to DTCC, the letter authorizes its subsidiary, the Depository Trust Company (DTC), to offer a tokenization service on pre-approved blockchains for three years. The digital version carries the same entitlements, investor protections and ownership rights as the traditional asset.
The authorization covers a defined set of liquid assets. These include the Russell 1000, which tracks the 1,000 largest publicly traded US companies by market capitalization, as well as ETFs tracking major indices and US Treasury bills, bonds and notes, DTCC said.
The service has already seen live activity. Crypto.news reported that more than 30 firms took part in production transactions on July 15 using tokenized representations of assets held at DTC. The conversions ran across DTCC's private Besu network and the public Canton Network. The transactions included securities lending, collateral pledges, equity transfers and US Treasury repurchase agreements.
Stellar and Arc on the 2027 roadmapDTCC and the Stellar Development Foundation announced in May that DTC-tokenized assets are expected to go live on the Stellar network in the first half of 2027, according to Ledger Insights. The outlet noted that Stellar becomes the second public blockchain connected to the service after Canton.
DTCC's roadmap also lists Circle's Arc for 2027, per the company. The timeline is not fixed and may change.
The multi-chain approach reflects DTCC's stated aim of widening access to tokenized assets while keeping the same safeguards participants have at DTC today. DTC currently custodies assets valued at over $114 trillion, DTCC said. The $30 trillion figure cited for assets available to tokenize is a subset of that total.
Sources
DTCC: Tokenization service authorized under SEC no-action letter
Ledger Insights: DTC tokenization service to add Stellar
Crypto.news: July 15 DTCC tokenized transactions
Sui integrovala služby Alibaba Cloud do systému Sui Agent Payments, v němž mohou AI agenti hradit cloudové služby a služby AI v USDC v rámci limitů nastavených uživateli.
Sui, a layer-1 blockchain network focused on scalability and performance, is launching an artificial intelligence-powered payments system in partnership with Alibaba Cloud, a leading Chinese cloud service provider. The integration allows AI agents to pay for digital services using USDC stablecoins, with all settlements recorded directly on the Sui blockchain.
Alibaba Cloud teams with Sui Agent PaymentsUnder this collaboration, Alibaba Cloud’s services are now available within Sui Agent Payments. This means that autonomous agents, such as automated software or bots, can pay for cloud or AI-related service calls in USDC without manual transaction approvals. The system enables users to set explicit spending limits, streamlining payments and facilitating continuous service access for digital agents.
By moving away from traditional subscription-based models, the integration allows spending to reflect actual usage. Users retain direct control by setting budget ceilings for their autonomous agents, thereby adding a layer of security and transparency to automated operations within the blockchain environment.
Agents can now pay per call in USDC, within user-defined limits, with every payment settled on Sui. This model replaces standard subscriptions and links blockchain with cloud computing for seamless, controlled payments.
The updated system combines fast blockchain settlements with Alibaba Cloud’s infrastructure services. Despite the advancement, Sui’s activity metrics such as adoption and transaction volume have not yet been detailed, and further data is needed to determine how the partnership will affect overall network usage.
Mini dictionary: Alibaba Cloud, the cloud computing subsidiary of Alibaba Group, offers scalable infrastructure and AI solutions, supporting global enterprises and now collaborating with blockchain projects for advanced digital services.
Potential impact on Sui’s network and SUI tokenThis new payment capability offers another blockchain application for Sui, which has positioned itself as a platform for modern automation tools. Developers and businesses seeking automated, pay-as-you-go digital transactions could benefit from using stablecoins such as USDC for regular micro-payments between software systems.
While increased USDC-powered payments may boost network traffic, direct demand for SUI tokens remains uncertain. The longer-term effect on the SUI ecosystem will depend on how quickly developers and enterprises begin adopting this integrated solution and whether it leads to higher network utility and activity.
Sui Insiders, a crypto analytics group, reported that SUI has established strong support between $0.85 and $0.90, with resistance expected near the downtrend line. They view a potential rally towards $1.30–$1.40, provided buyers hold the support and break key resistance areas. However, a loss of this support could limit near-term recovery prospects for SUI’s price.
ParameterSupportTargetSUI price range$0.85–$0.90$1.30–$1.40To validate an upward move, analysts emphasize that SUI must maintain support and push above descending resistance. Indicators such as volume and open interest in derivatives may help confirm the momentum, but sufficient data has not yet emerged.
Outlook hinges on adoption and real-world usageThe partnership with Alibaba Cloud is regarded by market observers as a potential catalyst for Sui’s ecosystem, but they caution that no direct correlation between the news and immediate price movement can be confirmed at this stage.
Real confirmation of the impact will depend on actual adoption and measurable USDC transactions, showing that Sui’s integration supports real-world cloud service purchases.
Moving forward, the industry will monitor both the adoption rate of Alibaba Cloud products processed through Sui Agent Payments, as well as the emergence of USDC transaction volumes on the network. These indicators are seen as necessary for evaluating the effectiveness and practicality of the new system.
The current technical outlook for SUI centers on the $0.85–$0.90 support and the status of the downtrend line. A breakout could affirm analyst targets around $1.30–$1.40, while a failure to hold will likely invalidate that scenario.
Sui’s blockchain developments and price performance will help clarify whether the new integration meaningfully expands its use and triggers a significant market response.
Hedera zpřístupnila vývojářům cross-ledger protokol CLPR bez nutnosti využívat mosty; TVL sítě za posledních 30 dní vzrostla o 12,3 % na 33,2 milionu USD.
Hedera (HBAR) reports higher TVL and TPS over 30 days, joins the UK Wholesale Digital Markets Champion Taskforce and opens its CLPR cross-ledger protocol to developers.
Hedera (@hedera) has recorded gains in network activity alongside a run of institutional and developer milestones. Total value locked (TVL) on the network reached $33.2 million, up 12.3% over 30 days, while transactions per second (TPS) rose 168.37% over the same period, based on recent Token Relations data.
Institutional steps for Hedera and $HBARHedera has become part of the UK's Wholesale Digital Markets Champion Taskforce. The taskforce is led by Christopher Woolard CBE and supported by HM Treasury, and focuses on interoperability and settlement finality in tokenized repos , according to Coinfomania. Other priorities include tokenized fixed income and collateral, with interoperability across public, private and existing financial infrastructure a key theme.
The move fed into a broader institutional narrative around the token. AMBCrypto noted that news of the taskforce seat came as Hedera was strengthening the institutional adoption narrative during a sharp rally in $HBAR in late September.
CLPR goes open sourceOn the technical side, Hedera has made its CLPR cross-ledger protocol open source through Linux Foundation Decentralized Trust (LFDT) Labs. According to Hedera, CLPR (pronounced "clipper") is the bridgeless Cross-Ledger Protocol in development by Hashgraph, contributed to LFDT as a new lab on 24 September.
The design aims to remove the need for bridges. CLPR uses state proofs to allow ledgers to verify each other's states directly, with no intermediaries in between. That matters because bridges and wrapped assets have been a weak point for the sector. Genfinity, citing industry trackers, reported that bridge incidents have cost roughly $329 million across eight attacks this year .
Alongside the contribution, Hashgraph opened a three-phase Cross-Ledger Early Adopter Program focused on cross-border payments and in-flight FX, cross-ledger settlement, and collateral mobility. The code now sits in LFDT's repositories, where developers can review it and contribute before it reaches top-level project status.
Application layer and developer toolingIn the application category, HashPack and SODAX are working to widen access to tokenized assets. Additional SDK functionality and updated atomic batch rules were also among the recent developer-side updates.
Taken together, the data points to rising on-chain activity, a clearer institutional footprint in the UK and an open-source push on interoperability. TVL of $33.2 million remains modest in absolute terms, so the next test will be whether these initiatives translate into sustained usage.
Sources:
Hedera: Hedera Contributes Hashgraph-Developed CLPR to LFDT LabsCoinfomania: Hedera Joins UK's Wholesale Digital Markets TaskforceGenfinity: Hedera Contributes Bridgeless CLPR Protocol to LFDT
Pharaoh Exchange za posledních 30 dní zpracovala objem obchodování ve výši 3,11 miliardy USD, což představuje 75 % celkového objemu obchodování na DEX síti Avalanche ve výši 4,16 miliardy USD.
Decentralized finance activity on Avalanche has become increasingly concentrated, with Pharaoh Exchange now processing $3.11 billion of the network’s $4.16 billion decentralized exchange (DEX) volume over the past 30 days, according to DeFiLlama data. This concentration means Pharaoh accounts for approximately 75 percent of Avalanche’s total DEX activity during the period.
Pharaoh Exchange leads with innovative liquidityPharaoh Exchange leverages V3 and DLMM liquidity pools, enabling liquidity providers to focus capital within set price ranges. This approach not only enhances the efficiency of deployed funds but also reduces slippage—allowing substantial trading volume with a relatively low total value locked (TVL) base.
With TVL fluctuating between $43 million and $53 million, Pharaoh has distinguished itself through efficiency rather than size. Its design, based on the Uniswap v3 standard, facilitates composable liquidity and is now being adopted across leading blockchains including Ethereum, Arbitrum, and Solana.
Pharaoh’s advanced pool structures are particularly effective with stablecoin and blue-chip trading pairs, where the quality and consistency of order execution is paramount. The reported 30-day fees reached $2.83 million, with revenue of $2.75 million, demonstrating strong cash flow relative to its trading volume.
Pharaoh Exchange, operating with a TVL range as low as $43 million, generated $3.11 billion in 30-day trading volume, highlighting a strategic focus on capital efficiency and targeted liquidity deployment within the Avalanche ecosystem.
Network trading volumes rose by 43.29 percent compared to the previous 30-day window, underlining accelerating momentum for Avalanche-based decentralized finance protocols.
All-time highs and ecosystem impactPharaoh recently recorded monthly all-time highs, processing $2.866 billion in 30-day trading volume and collecting $2.48 million in fees. Cumulative exchange volume has now surpassed $35 billion, with lifetime fees totaling more than $32 million. Weekly DEX activity across Avalanche reached $1.13 billion, the highest figure since March, while tokenized stock inflows for the week ending September 25, 2026 reached $131.2 million.
Stablecoin market capitalization on the AVAX C-Chain climbed to $933.9 million, and distributed asset value totaled $1.80 billion. Other Avalanche DEX platforms posted significant gains as well, with Trader Joe V2.2 fees jumping 208.29 percent daily and 173.91 percent on a weekly basis, suggesting robust ecosystem-wide growth.
Ongoing migration from V2 to V3 pools across DEXes is nearing completion, scheduled to conclude by October 31, 2026. This consolidation is expected to further enhance liquidity efficiency network-wide.
Risks and outlook as activity intensifiesPharaoh’s dominance introduces notable concentration risk, especially should operational challenges arise. While the adoption of Pharaoh’s pools supports composability and integration by developers, it could create vulnerabilities if most activity is routed through a single venue.
Institutional participants, as trading volumes climb, are likely to view this as validation of Avalanche’s DeFi environment but remain attentive to fee sustainability, incentive structures, and TVL stability.
For developers and institutional users, Pharaoh’s dominance is a double-edged sword, bringing efficiency and deep liquidity while heightening exposure to potential single-platform issues.
For regulators and industry stakeholders, this concentration mirrors dynamics in traditional finance where market share can aggregate around leading venues, though decentralized settlement remains a core feature.
Avalanche’s ability to support continued developer activity, maintain stablecoin liquidity, and facilitate cross-chain capital flows will be crucial for further growth. Analysts stress the need for monitoring Pharaoh’s fee-to-market cap ratio, changes in TVL, and Avalanche’s standing versus larger chains.
If weekly volumes stay above $1 billion, Avalanche could reclaim its position among top DEX ecosystems. The end of incentive programs and the emergence of new competitors will test Pharaoh’s ability to retain share and sustain performance.
Closely watching the continued evolution of technical indicators and investor strategies becomes increasingly important in fast-moving markets. In the meme token market segment, an internet-driven trend can rapidly generate significant value. Notably, Fomo App reported a trade in “Niu Lai” that transformed a $99 investment into nearly $370,000—a sharp illustration of this sector’s volatility. The ability to monitor investor timing and token selection is essential, and Fomo App consolidates discovery, trading, social feeds, investor rankings, and trade notifications into a single platform for following meme token and investor activity.
Changpeng Zhao popřel, že jeho příspěvek způsobil stažení reklamy Solany v Šanghaji. Podle něj reklama zmizela do 10 minut, zatímco jeho příspěvek byl zveřejněn až o 12 až 24 hodin později.
Changpeng Zhao wants one thing on the record: he did not get Solana’s Shanghai ad pulled.
The Binance founder said on X that the advertisement on the city’s Bund came down within 10 minutes of appearing. He says that happened before he had even seen it. His post praising Solana followed later.
A celebration, then a crackdown
On October 15, 2026, CZ publicly applauded Solana’s new Shanghai office and its skyline advertising in the city. He framed the move as a meaningful step forward for the blockchain industry as a whole. He also set it against what BNB Chain had accomplished, a notable gesture of goodwill toward a rival ecosystem.
On October 16, 2026, Solana’s Accelerate China event at the Shangri-La hotel in Shanghai was postponed after police showed up. Attendees reported being kept outside the venue for more than an hour.
Organizers attributed the delay to “last-minute logistical considerations.” They did not elaborate on what, if anything, had passed between them and the authorities.
Speculation filled the gap. The theory making the rounds was simple: CZ’s high-profile praise had drawn the attention of regulators. In that telling, his post triggered scrutiny that led to the ad on the Bund being taken down just 10 minutes after it went up.
CZ’s version of the timeline
CZ rejected that account directly. His argument rests on sequencing.
By his account, the ad was already gone within 10 minutes of being displayed. He says he did not see it until much later. According to the research timeline, his social media post came 12 to 24 hours after the ad was removed.
CZ also pointed to China’s strict real-time content monitoring. His point was that the ad’s rapid removal fits a system built to catch this kind of material quickly, with or without a nudge from a celebrity founder on X.
China’s long, complicated relationship with crypto
China has kept its ban on crypto trading in place since 2021. At the same time, the country continues to allow blockchain development.
This is also not Solana’s first rough experience in mainland China. The postponement marked the second time in a year that a Solana event in the country was disrupted. The earlier incident took place in Shenzhen in 2025.
What this means for Solana and foreign crypto projects
For Solana, the immediate cost is reputational and logistical. A postponed flagship event and a vanished billboard are not the launch most teams envision for a new office.
CZ’s role here is interesting on its own terms. He offered public support to a competing chain, then had to spend time explaining that the support did not backfire.
The near-term reality is a canceled ad and a delayed conference.
What to watch next is fairly straightforward. Will Solana reschedule Accelerate China, and under what terms? Will organizers say more about what the authorities raised?
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Pump.fun zavádí v mobilní aplikaci 0% poplatky za obchodování se Solanou a na webu i v aplikaci poplatek ve výši 0,45 %, jehož veškeré příjmy rozdělí prostřednictvím doporučovacích odměn.
Pump.fun has rolled out a new fee setup for its mobile app and website. It pairs 0% trading fees on Solana trades through the mobile app with a fresh 0.45% platform fee on trades placed through the app or web.
The twist is where that 0.45% ends up. The Solana-based token launchpad says it will send all of the revenue from the fee back out through referral rewards, so none of it is booked as platform profit.
How the new structure works
The revamped structure takes effect on October 17, 2026. The referral program behind it was announced a day earlier, on October 16, 2026.
The mechanics are fairly simple. Users who arrive through a referral get a 10% discount on fees. They are also eligible for matching bonuses on deposits, capped at $50.
The people doing the referring get a perk as well. Pump.fun is running a limited-time 4x boost on referrer bonuses, which rewards anyone who brings new traders onto the app.
The fees that are not changing
Not everything is being reworked. Pump.fun’s existing bonding-curve fees stay in place at a combined 1.25%.
That 1.25% splits two ways. Token creators receive 0.30%, and the protocol keeps 0.95%.
A bonding curve is a pricing formula that sets a token’s price automatically based on how much of it has been bought. Early buyers pay less, and the price climbs as demand grows. It is how Pump.fun lets anyone launch a token without lining up liquidity first.
Once tokens move beyond that initial phase, they trade on PumpSwap, the platform’s decentralized exchange. PumpSwap carries its own set of graduated fees, which are also unaffected by this change.
Alon Cohen’s near-zero-fee vision
The direction did not come out of nowhere. Co-founder Alon Cohen endorsed a near-zero-fee trading vision for the app around September 29-30, 2026, framing it as a way to boost visibility and distribution.
Cohen’s emphasis has been on retention. His strategy leans on social and referral mechanics to keep users engaged rather than simply attracting them once.
What this means for traders and the platform
For everyday traders, the near-term math looks favorable. Solana trades on the mobile app carry no fee, referred users get a 10% discount, and deposit bonuses of up to $50 sweeten the onboarding.
For active recruiters, the 4x referrer boost turns the app into something closer to an affiliate program.
For creators, nothing changes. Their 0.30% cut of bonding-curve fees stays intact, so the economics of launching a token on Pump.fun hold steady.
By committing all of the 0.45% platform fee to referral rewards, the company is giving up a potential income stream in exchange for growth. That leaves the protocol’s 0.95% share of bonding-curve fees and its PumpSwap fees doing the heavy lifting on the revenue side.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Solana’s blockchain network is set to enhance its transaction processing capabilities, according to a recent update from Grayscale. The network currently processes approximately 1,400 transactions per second and is anticipated to reduce transaction finality to 150 milliseconds following an upcoming upgrade. This development, known as Alpenglow, aims to improve Solana’s efficiency without altering its transaction execution or fee structure. The news has been circulating among market participants, suggesting a potential positive impact on Solana’s market perception and price trajectory.
Key Takeaways
Market activity suggests participants view Solana’s transaction speed improvement as potentially supportive of increased price expectations.
The upgrade, Alpenglow, aims to drastically reduce transaction finality time, which could attract more users and bolster network utility.
Current market pricing indicates a moderate probability of Solana achieving higher price targets in the near term.
What to Watch
Observers should monitor the successful activation of the Alpenglow upgrade and its impact on Solana’s performance metrics. Any delays or issues could affect market sentiment and pricing scenarios. Additionally, the broader cryptocurrency market conditions and regulatory developments will play a crucial role in shaping Solana’s price movements in the coming weeks. Markets will be particularly attentive to any announcements from key actors such as Solana Labs and potential regulatory changes from the U.S. Securities and Exchange Commission.
Pentiv plánuje převést záznamy o hypotečním portfoliu v hodnotě přes 10 mld. USD do sítě Injective; nejde o převod vlastnictví hypoték ani o novou likviditu pro obchodování.
Pentiv, the new brand of Pineapple Financial, plans to tokenize its $10 billion real estate portfolio on Injective and run agentic operations onchain with $INJ.
Pentiv (@pentivhq) plans to bring its entire $10 billion real estate portfolio onchain through Injective (@injective). The company also intends to move its agentic operations onchain using $INJ. Injective says the plan marks progress toward greater institutional adoption. No rollout timeline has been announced.
What Pentiv plans to tokenizePentiv is the new operating brand of Pineapple Financial, according to CoinGabbar, which cites an October 15 filing. The same report notes the corporate rename still needs shareholder approval.
The "real estate portfolio" refers to mortgages rather than physical buildings. Pineapple Financial, listed on the NYSE American under the ticker PAPL, has already migrated more than $1 billion worth of residential mortgage records onto Injective, according to Crypto Briefing. The company has disclosed plans to eventually move its entire historical portfolio, which includes more than 29,000 funded mortgages valued at upwards of $10 billion.
The records are not new securities. Reporting from GlobalCrypto notes that the blockchain records provide an onchain representation connected to the underlying loan files, and do not themselves transfer ownership of the mortgages. The $10 billion figure therefore describes the scale of the migration ambition, not newly deposited trading liquidity, as Coindoo points out.
Crypto Briefing also reports that Pineapple holds a treasury position of around $100 million in $INJ, the native token of the Injective network.
Injective's institutional pushThe announcement adds to a series of institution-focused moves by Injective. The network's institutional arm is now an SEC registered transfer agent, according to Injective's own blog. The registration lets it maintain ownership records and process changes to them within the federal framework for securities markets.
Markets have noticed. KuCoin News reported that $INJ reached $9.16 on October 16, 2026, after a 23% single-day gain, with the token up nearly 70% over the past month. That report links the rally to several factors, including ETF filings and the Pentiv news, so the price move cannot be attributed to the tokenization plan alone.
Details on timing, the scope of each phase and how agentic operations would run onchain have not been disclosed. Until they are, the plan remains an intention rather than a completed migration.
Sources:
CoinGabbar: Injective leads major blockchains, latest revenue dataCrypto Briefing: Injective tokenizes over $1B in real estate mortgagesInjective: SEC registered transfer agent announcement
Bitcoin tento týden klesl zhruba o 3 % na 80 970 USD; poptávka na spotovém trhu zůstává slabá a bitcoinové ETF do čtvrtka zaznamenaly čistý odliv 146 milionů USD.
Bitcoin turned lower in late morning trade, retesting the $80,000 threshold heading into the weekend. The flagship cryptocurrency is down 1.3% to $80,970 Friday afternoon, according to pricing data from LSEG. The cryptocurrency had rallied along with the stock markets in morning trade, but succumbed to continued weakness seen in tech and AI stocks, following the 2.4% slide seen on the Nasdaq.
Bond yields turned higher in the afternoon, this after the Treasury Department passed on an opportunity to send a strong signal that it is considering reducing the sizes of bond auctions. Higher yields have been a pressure point for cryptocurrencies and general commodities, with investors cautious about engaging with what they perceive as "riskier" assets.
Crypto assets were supported in morning trade by dimming expectations for a near-term Federal Reserve rate hike. Fed Chairman Kevin Warsh avoided a clearly hawkish or dovish tone during a moderated conversation at the International Monetary Fund meetings in Bangkok. But for bitcoin, lacking demand for tokens on the spot market is a fundamental problem that hasn't gone away.
"The demand picture has not improved," said Colin Basco, a senior quantitative analyst with Coinbase Institutional. Basco attributes the upward movement seen in bitcoin earlier in the week to trading by leveraged long positions, as opposed to spot demand among investors. Net flows in and out of bitcoin ETFs, considered a metric of interest in the cryptocurrency among fund managers, have slid back into being more negative than positive for the week.
Through Thursday, bitcoin ETFs recorded a net outflow of $146 million, according to data from Coinglass. At the same time, analysts say that bitcoin's relative strength versus AI stocks this week is reason for optimism. Bitcoin shed roughly 3% this week, while the iShares Semiconductor ETF slipped 9%. Write to Kirk Maltais at [email protected] (END) Dow Jones Newswires 10-16-26 1543ET Copyright (c) 2026 Dow Jones & Company, Inc.
Celestia spustila Eden, výkonný EVM řetězec určený k testování autonomních plateb a obchodování AI agentů. Jeho nativním tokenem pro poplatky za gas je TIA.
Modular blockchain project Celestia has announced the launch of Eden, a high-performance EVM chain built on Celestia. Celestia says Eden will act as an experimental sandbox for "Agentic Commerce", used to test the behavior and infrastructure needs of AI agents when conducting on-chain autonomous payments, transactions, and model calls. Celestia notes that as AI agents start engaging in more frequent on-chain transactions, market demand for block space, real-time settlement, and low-friction payments will continue to rise. Eden will help teams observe what transaction environment agents need, how they manage funds, and how their on-chain activities will impact network design. Eden’s first experimental project is Botfun, which is currently in closed beta. Per Celestia, participating agents can issue their own tokens and trade around narratives generated by other agents; each model inference call is paid on-chain via x402. Celestia states this experiment briefly pushed Eden to become one of the largest x402 networks by transaction volume. Technically, Eden is an EVM-compatible chain supporting atomic batch transactions, application-sponsored gas payments, and larger smart contract deployments, with its native gas token being TIA. These designs will reduce signature and fee friction when agents execute consecutive payments, swaps, and interactions.
TIA za sedm dní vzrostl o 49 %, zatímco objem dat zveřejněných v síti Celestia klesl o 26 %. Otevřené pozice na futures mezitím vyskočily o 331 % na 358 mil. USD.
TIA price cleared a resistance level that had rejected it twice this week, on heavy volume. Data posted to Celestia fell while the token rallied. Fibre and the Eden experiment are driving expectations ahead of actual revenue. Momentum is overbought and slightly weaker than at the September peak. Celestia’s TIA token climbed about 22.5% on Friday to trade near $0.70, lifting its seven-day gain to roughly 49% and putting it about 73% above its September 18 close of $0.407. The amount of data rollups post to Celestia, which is the service the network sells, fell by about 26% over nearly the same period. That gap matters for anyone holding TIA after this week’s breakout, because the market appears to be pricing capacity Celestia has shown in tests and products that are still experimental.
Price up 73%, data down 26% Celestia works as a data availability layer, meaning rollups and other chains publish their transaction data to it so anyone can verify or rebuild their state without relying on the operator. Daily data posted dropped from 2.77 billion bytes on September 18 to 2.05 billion bytes on October 15. Two daily readings are too few to confirm a trend, and tighter compression or batching by rollups can cut the byte count without any drop in user activity, yet the reading still points the opposite way from the chart.
Celestia scorecard
Earliest available reading vs. latest, September 18 to October 16
Metric Then → Now Change TIA price $0.407 → $0.7022 ▲ 73% Daily data posted 2.77B → 2.05B bytes ▼ 26% Daily fees $82 → $96 ▲ 17% Futures open interest $83M → $358M ▲ 331% Open interest measured from September 23.
$33,000 a year against a $646M token The fee numbers make the valuation hard to defend on current usage alone. The network collected
about $2,701 over the past 30 days, which works out to roughly $33,000 a year, while TIA carries a market capitalization of about $646 million, even though daily fees ticked up from $82 to $96 in the latest reading. Leverage has grown far faster than either number, with perpetual futures open interest, the total value of outstanding leveraged contracts, rising from about $83 million on September 23 to roughly $358 million on Friday, so much of the move rests on positions that can be closed in a hurry.
Fibre’s 3 Tb/s is still a lab result On October 1, Celestia said on its official blog that Fibre, its high-throughput data availability system, sustained an average of 3.07 terabits per second across 120 validators in a 143-second benchmark, roughly triple the 1 Tb/s result it published in January. Encoding a 2 GiB blob now takes 0.9 seconds compared with 6.8 seconds before. The test used 2 GiB blobs while the first mainnet release is planned with a 128 MiB cap, and the team acknowledged that some test configurations will not ship at launch.
Eden, an experimental EVM chain for AI-agent transactions that Celestia announced on Friday, gives traders a second story to trade. It runs on Celestia for data availability, uses the Evolve development stack and charges gas in TIA, and its first experiment, a closed beta called Botfun, let agents launch and trade tokens while paying for every model inference call through the x402 payment standard. Celestia says the test briefly made Eden one of the largest x402 networks by transaction count, although it gave no source for that ranking and the experiment has not produced measurable revenue so far.
What lifted TIA before this week The Sustainable Blob Economy proposal, which aims to tie network usage more directly to demand for TIA, sent the token up more than 19% to about $0.526 on September 23, with roughly $621,000 in short liquidations forcing bearish traders to buy back, although its final form has yet to clear Celestia governance. Derive’s V3 migration on October 8 added another 6%, even if it is unclear how much data the new setup will keep posting to Celestia. Even after all of this, TIA trades about 96% below its February 2024 peak near $20.91, according to CoinGecko data.
$0.6217 gives way after two rejections Friday’s intraday high at $0.7233 marks a new top for the rally that began at the August 18 low near $0.293, a gain of roughly 146%. The Fibonacci retracement is drawn between those two points, and with the daily candle still open, a higher print would shift every level, while the breakout needs a close above the 0.236 retracement at $0.6217 before it counts as confirmed.
TIA/USDT daily chart. Source: TradingView / Alexander Stefanov That level capped price on October 11 and 13, when long upper wicks showed sellers active around $0.63. In between, TIA held a tight range with lows near the 0.382 retracement at $0.5589 instead of slipping toward the 0.5 level at $0.5081, and Friday’s candle cleared that range in one session on about 39 million TIA of volume, one of the heaviest days of the uptrend.
The 50-day SMA crossed above the 200-day in late September and the gap has widened since, with the 50-day at $0.4398 against $0.3821. The 200-day sits almost exactly on the 0.786 retracement at $0.3851, which makes $0.38 to $0.39 the deepest support zone that still keeps the trend intact.
RSI lags September’s peak The 14-day RSI sits above 71, past the 70 mark that usually flags stretched conditions. Its late-September peak, set when TIA topped near $0.53, was higher at around 74, so price now trades about 31% above that September high on slightly weaker momentum. That is a small bearish divergence that one strong close could erase, and the last overbought reading led to about two weeks of sideways trade between $0.44 and $0.52 before the next leg up.
A daily close above $0.6217 would turn it into first support and leave the $0.75 and $0.80 round numbers, plus the 1.272 extension near $0.84, as the next references. A close back below $0.6217 would point to a retest of $0.5589, and losing $0.5081 would bring the 0.618 level at $0.4573 and the 50-day SMA near $0.44 into view.
TIA key levels
Next target $0.84 TIA now $0.7022 Breakout level $0.6217 Range floor $0.5589 Trend support $0.44 Red marks resistance, green marks support.
Fibre’s launch and $358M in leverage The Fibre mainnet launch is the first point where benchmark throughput can show up as blobs that paying rollups actually post. Weekly or monthly data averages on explorers such as Celenium, along with the count of active rollups, will say more about demand than the two readings behind this month’s decline. With open interest above $350 million, a failed close above $0.6217 could reverse the September 23 pattern, leaving leveraged longs to sell into a drop where short sellers were once forced to buy into a rise.
Ethereum’s own blob space and rival data availability networks compete for the same rollup teams, and the low fees that help Celestia win developers also mean each extra byte adds little revenue. Usage would have to grow by multiples before fee income looks meaningful against a $646 million valuation.
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.
SEI perpetual futures have been certified by a CFTC-regulated US exchange. The USD-settled contracts trade 24/7 with no expiry, while three SEI ETFs await SEC progress.
A CFTC-regulated exchange has certified $SEI perpetual futures, @SeiNetwork announced on October 16. The contracts settle in US dollars, trade around the clock and have no expiry date, placing SEI alongside BTC, ETH, SOL and XRP among assets with perpetual futures on CFTC-regulated venues.
What the filing shows The filing was submitted by North American Derivatives Exchange, which operates as OG.com Markets, and the exchange said it intended to list the contract by October 12. According to the exchange's certification document, the contract is settled in US dollars, has no expiration date and tracks the token's spot price through a reference index. The filing also specifies margin requirements and periodic funding adjustments meant to keep futures prices aligned with the underlying market.
Certification is different from a formal approval. Under CFTC rules, a designated contract market can list new products by self-certifying compliance with the Commodity Exchange Act, filing the product terms at least one business day before launch. Trading availability, liquidity and volumes for the SEI contract have not been confirmed, and the listing does not guarantee fresh demand for the token or sustained price gains.
The product adds a regulated route to SEI exposure without holding the token directly. It is designed to let traders take long or short positions without directly holding the token.
US perps market and SEI ETFsUS-regulated perpetuals are a recent development. On May 28, 2026, the CFTC approved the first perpetual futures contract cleared on a US-regulated exchange, a cash-settled Bitcoin perpetual listed by Kalshi. Perpetual futures have no expiration date and have become the dominant form of crypto derivatives trading globally, but were largely unavailable on regulated US exchanges.
On the ETF side, three SEI products from REX-Osprey, Canary Capital and 21Shares are still in the SEC process. REX Shares and Osprey Funds have set October 23 as the target effective date for their proposed fund, after filing a post-effective amendment on Sept. 24. The proposed REX-Osprey $SEI + Staking ETF would hold $SEI and stake part of its holdings through Sei Network's proof-of-stake system. 21Shares filed with the SEC to launch an ETF tracking the price of SEI, following Canary Capital's similar application in April 2025.
Together, a regulated derivatives product and pending exchange-traded funds would give US investors more compliant ways to gain exposure to SEI, though none of the ETFs has yet been confirmed as launched.
Sources
The Crypto Times: SEI joins BTC, ETH, SOL with US-regulated perpetual futuresTron Weekly: SEI perpetual futures gain CFTC certificationCryptonews: REX, Osprey set Oct. 23 target for staked SEI ETF
Bittensor vydal aktualizaci Null Consensus, která rozšiřuje kapacitu subnetů z 256 až na 2 500 účastníků a zavádí alternativní systém odměňování těžařů.
"TAO has probably the biggest compression in crypto right now," one popular X user stated.
The popular altcoin has surpassed $285 after posting a double-digit daily increase, sparking optimism that its rally could continue in the near term.
Some forecasts are highly bullish and even implausible (at least for now).
Just the Beginning? TAO has performed quite well today (October 16), largely because of the market’s overall resurgence, with Bitcoin (BTC) reclaiming $82,000 and Ethereum (ETH) rebounding to around $2,450.
On top of that, another catalyst tied directly to the asset’s ecosystem could be in play. Bittensor’s team revealed the release of Null Consensus, a major protocol update that expands subnet capacity from 256 to 2,500 participants.
“It introduces a new way to determine miner rewards, giving subnet owners an alternative to Yuma Consensus,” the announcement reads.
The update also introduces optional proof-of-work registration, letting miners join subnets without spending TAO upfront. Instead of paying a fee, they can now solve a computational challenge using their hardware.
“This opens the door for more miners, including autonomous AI agents, to join Bittensor using compute alone,” the team added.
The asset has drawn numerous bullish predictions lately, and the latest price increase prompted further commentary. X user Michael van de Poppe said he’s started to like TAO’s chart even more because he sees “a clear bullish structure.”
Lucky and Sjuul | AltCryptoGems also weighed in. The former recently envisioned a potential increase toward $350-$400 by the end of the year, while the latter claimed the price has been consolidating within a massive range since the summer of 2024 and that could ultimately give way to an “epic expansion,” assuming macro support levels continue to hold.
You may also like: ‘Buy Crypto’ Google Searches Hit Yearly Highs: Is Retail Coming Back? Altcoins Are Rallying, But Analyst Says Alt Season Has Yet to Begin Trump’s $5,000 Checks Could Send Billions Into Bitcoin and Crypto: But There’s a Catch For their part, Crypto Candy maintained that this is the last chance to buy the asset below $300, expecting a 10x explosion in the midterm.
The Crazy Bet X user Rob Greer recently made a much more bullish price prediction than the ones above. He projected that TAO’s market cap could skyrocket above $1 trillion by 2030, suggesting the asset’s valuation “is moving at the speed of BTC, but the innovation is moving at the speed of AI.”
For now, that scenario seems highly unlikely. The token’s market capitalization is currently below $3.3 billion, meaning it would need to gain over $30,000 to reach that level. On the other hand, the crypto market is known for defying expectations, so who knows what the future might bring.
Starknet now has a velvet rope. The Starknet Foundation introduced the Starknet VIP Program on October 16, 2026, and it targets holders of the network’s native STRK token and strkBTC, its Bitcoin wrapper asset.
According to the program’s page at vip.starknet.io, the program is now open to supported STRK and strkBTC holders.
What VIP status actually gets you The perks lean toward access rather than cash. Qualifying holders are set to receive priority support, direct interaction with the Foundation team, confirmed access to events, and additional benefits the Foundation has yet to disclose.
The program covers two assets with different jobs. STRK serves as Starknet’s governance and staking token, and it is also used to pay fees on the network. In practical terms, STRK is how you vote, how you stake, and how you pay for transactions.
strkBTC is the newer piece. It launched in May 2026 as a wrapped version of Bitcoin built for Starknet’s DeFi applications.
strkBTC was initially secured by a federation of institutions. It also includes optional shielding, which lets users keep certain transactions private.
The Bitcoin push behind the perks The VIP Program did not arrive in a vacuum. It follows a string of Bitcoin-focused moves as Starknet works to build out what the industry calls BTCFi, or decentralized finance built around Bitcoin.
In late 2025, Starknet distributed 100 million STRK as part of its push toward Bitcoin integration.
More recently, the network ran a program covering bridging fees for the first 100 BTC moved onto Starknet.
There is also a weekly strkBTC faucet worth approximately $833.
Starknet recently launched v0.14.4 on mainnet, and the VIP Program arrives in the middle of that ongoing upgrade cycle.
What this means for holders and the network On the market side, research findings note a 47% increase in STRK’s value shortly after the announcement, a move linked to interest in BTCFi and privacy upgrades.
There are open questions worth watching. The Foundation has not yet published eligibility thresholds or how long the program will run.
strkBTC’s security model also bears watching. Because it was initially secured by a federation of institutions, users are trusting that group to manage the underlying Bitcoin.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Tržní podíl Ondo Finance v segmentu tokenizovaných akcií klesl od začátku ledna do týdne končícího 5. října z 56 % na 26 %, zatímco Binance a Robinhood získávaly uživatele i kapitál.
Ondo Finance’s dominance of the tokenized equities market has narrowed, with its share sliding from 56% to 26% between early January and the week of Oct. 5 as new entrants such as Binance and Robinhood attracted users and capital, according to new research from DWF Labs.
An early mover in institutional real-world asset tokenization, Ondo still led the market with about $1 billion in value during the period, while the sector’s total market value climbed 483% to $3.8 billion.
Binance’s bStocks, which recently hit $1 billion in assets under management, grew to $905 million and captured 24% of the tokenized stock market, the report reveals. Robinhood’s tokenized equities increased from $20 million following their July launch to $170 million.
Meanwhile, Securitize reached $290 million, accounting for 8% of the market, while xStocks grew from $187 million to $954 million and maintained a 25% share.
The report notes that Ethereum’s early lead in tokenized equities has weakened as issuers have expanded into competing networks. Its share declined from 50% at the start of the year to 22% in October, while BNB Chain increased from 9% to 32%.
Binance’s entry also strengthened BNB Chain, where CRCLb, SPCXb and MSTRb rank among the 10 largest tokenized equities. Avalanche, which had no market share at the start of the year, reached 9% after Securitize launched tokenized shares on the network in July.
On-chain activity jump 42-fold in 2026
On-chain activity in tokenized equities has increased sharply in 2026, with weekly transfer volume rising 41.8-fold from $420 million in early January to $17.5 billion in early October, according to the report.
Turnover climbed from 0.64 times to 4.6 times market capitalization, while weekly decentralized exchange (DEX) trading velocity rose from 0.07 times to 0.67 times market capitalization.
Trading peaked at about $7.3 billion in the week of Aug. 31, with Robinhood Chain accounting for approximately $5.4 billion, the report details.
Activity has also spread across more networks. Solana’s share of trading fell from 99.8% in January to 31% in October, while Robinhood Chain, BNB Chain and Base captured 26%, 25% and 18%, respectively.
Tokenized equities are also seeing increased use in decentralized finance (DeFi). Active total value locked (TVL) rose about 20-fold, from $15.5 million on Jan. 1 to $313 million on Oct. 15, compared with 5.8-fold growth in market capitalization between early January and early October. Deployed capital increased from approximately 2% to 8% of market capitalization.
Spot DEX pools held $77.9 million, followed by lending and borrowing markets at $51.3 million, Saturn at $50.9 million, Figure Markets Exchange at $48.9 million and Pendle yield markets at $42.6 million. The top 10 protocols accounted for 89% of total deployed value.
Despite rising trading activity and DeFi adoption, tokenized equities are still small relative to traditional equity markets, which DWF Labs estimates at $75 trillion in the US and $150 trillion globally. The gap leaves enormous potential for further growth as on-chain trading and DeFi use develop.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
After losing $2 support and falling to a low of $1.8, LayerZero [ZRO] made a strong comeback amid a broader market trend reversal.
The altcoin successfully defended the $2 level and climbed to a local high of $2.25 at press time, after gaining 23% on the daily charts.
Is LayerZero’s demand returning?
The market largely recovered, driven by renewed interest in the derivatives. Previously, ZRO, like most altcoins, saw a collapse in derivatives, which intensified downside pressure.
Now, it seems the trend has reversed. As a result, the altcoin’s Open Interest (OI) surged 31% to $275 million, while the derivatives volume rose 63% to $336 million as of writing.
Source: Coinglass
The rising OI alongside volume implied increased market participation and steady capital flow into new positions. Meanwhile, the altcoin’s Long/Short Ratio rose above 1 across all tracked exchanges.
At these levels, the ratio implied that traders were overly bullish and largely opened new and expanded existing long positions.
Two major hurdles remain for ZRO
Despite the recent gains, LayerZero faces both short and long-term risks. For short-term concerns, the altcoin is experiencing heavy profit-taking.
After the trend reversed the past day, inflows into exchanges skyrocketed, with over $26 million entering exchanges. As a result, the Spot Netflow rose above $3.5 million.
Source: Coinglass
An elevated positive Netflow implied that deposits outpaced withdrawals over the said period, a clear sign of aggressive profit realization.
Typically, when profit takers dominate the market, it raises selling pressure, which usually precedes market weakness.
Additionally, community chatters have raised concerns about the upcoming unlocks. On the 20th of October, LayerZero will unlock 25.7 million ZRO, worth approximately $56.5 million at the current price.
Source: Coinglass
Proxonchain reported that previously, these unlocks have resulted in an over-double-digit slip. This raises concerns about the trend’s long-term sustainability, and given prior behavior, the market could drop.
What do momentum indicators suggest?
Structurally, even with the recent price hike, the momentum is yet to confirm an upside. At the time of writing, the MACD sat below its signal line, suggesting that downward pressure remains strong.
Likewise, the Relative Vigor Index (RVGI) confirmed this trend of weakness, remaining in the negative zone and continuing to decline.
Source: Tradingview
These two indicators suggest that bearish pressure is relatively strong and that bullish pressure is insufficient to prompt a trend reversal.
Therefore, if the profit taking persists, we could see LayerZero fail to extend the rally and fall below $2. The upcoming unlocks will make things worse and intensify the downside, with $1.8 as critical support.
For now, if the recent speculative demand holds, ZRO could clear the $2.4 resistance and target $2.5.
Final summary
LayerZero surged 24%, defended $2, and rose to a local high of $2.25 amid renewed demand.
ZRO’s rally attracted increased profit-taking, raising concerns about another pullback alongside upcoming unlocks.
Post-quantum signatures have a weight problem. They typically run 10 to 100 times larger than the classical signatures that blockchains rely on today.
On October 16, 2026, LayerZero Labs unveiled Aerie, a system built to put those signatures on a diet. The research was developed with a16z crypto research, Carnegie Mellon University, and Imperial College London.
What Aerie actually does
Aerie is a signature aggregation system that combines large batches of Falcon signatures, which NIST has standardized as FN-DSA, into a single compact proof. Under the hood, it relies on a lattice-based polynomial commitment scheme called Akita.
The headline benchmarks are notable. Aerie aggregated 32,768 Falcon-512 signatures in 0.65 seconds, and 16,384 Falcon-1024 signatures in 0.63 seconds.
Those runs happened on an Apple M4 Max MacBook Pro using only CPU cores. No GPU acceleration was involved.
Throughput lands at roughly 46,000 Falcon-512 signatures per second. Peak memory use during processing came in at 2.1 GiB.
On size, the aggregated proofs work out to approximately 42 bytes per signature. The team says that is 16 times smaller than its predecessors.
Verification also gets quicker. Checking an Aerie proof is 10 times faster than verifying each signature individually on a single core.
How it stacks up against earlier work
Aerie is not the first attempt at this problem. The research compares it directly against Orthus, an earlier signature aggregation system, on comparable hardware.
It delivers 1.5 times faster proving, 38 times faster verification, and proofs that are 1.7 times smaller.
The research also says Aerie compares favorably to Ethereum’s leanVM approach in terms of network throughput.
Why signature size became the bottleneck
Most blockchains secure accounts and consensus with elliptic curve cryptography. Schemes like Ed25519 and BLS are compact and fast, which is a big reason they became the default.
The catch is that sufficiently capable quantum computers pose a serious risk to elliptic curve and RSA-based systems. That threat has pushed the industry toward NIST-standardized post-quantum alternatives such as ML-DSA and FN-DSA.
BLS signatures also have a party trick that most post-quantum schemes lack: they aggregate efficiently, letting many validators’ approvals collapse into one.
Falcon sits in an interesting spot. Among the NIST candidates, its signatures are relatively small, but it lacked practical aggregation capabilities until now.
What this means for blockchains planning a quantum migration
LayerZero frames Aerie as a migration path to post-quantum security that does not require specialized hardware.
Running on a consumer laptop’s CPU at sub-second speeds suggests that low-latency post-quantum consensus may be achievable without raising the bar for participation. The researchers present the results as a demonstration of that potential rather than a finished, deployed product.
Roughly 42 bytes per signature after aggregation is a far more manageable figure than the raw sizes that have made post-quantum migration look painful.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Po představení létajícího prototypu Roadsteru Elonem Muskem vzrostl během hodiny objem obchodů s kontraktem Tesla na Hyperliquid z 2,8 milionu USD na 47 milionů USD.
Trading in Hyperliquid’s Tesla contract rose from $2.8 million to $47 million in a single hour overnight. It is already the contract’s second-busiest day since launch.The contract’s price rose about 5% to roughly $378. Binance’s Tesla contract was still the largest, with $279 million in 24-hour volume against Hyperliquid’s $159 million, according to RootData.The contract tracks Tesla’s stock price but is not a tokenized share. It trades around the clock and allows up to 20x leverage.Traders rushed into Tesla-linked crypto markets overnight after Elon Musk unveiled a flying version of the Roadster, with trading on Hyperliquid jumping while U.S. stock markets were closed.
The surge shows how crypto exchanges that never close are becoming the first place investors react to news about traditional companies.
Musk demonstrated the prototype, which uses SpaceX thruster technology, on Oct. 15, after Tesla TSLA$351.98 shares closed at $362.44. Hyperliquid’s TSLA perpetual contract rose about 4.9% to roughly $378, and hourly trading volume leapt about 1,580%, from $2.8 million to $47 million.
TLSA market on Hyperliquid (Hyperliquid)It is already the contract’s second-busiest day since listing a year ago, with the daily candle only nine hours old. Binance remained the largest venue, with $279 million in 24-hour volume versus Hyperliquid’s $159 million, according to RootData, but Hyperliquid held the most open interest, at $99 million. Tesla shares were up about 4.5% in premarket trading.
Hyperliquid’s contract, listed through Trade.xyz, is a perpetual future that tracks Tesla’s stock price rather than a tokenized share. It settles in USDC, allows up to 20x leverage and requires no brokerage account. The contract trades around the clock, so it was one of the few ways to bet on Tesla’s price while Nasdaq was closed. Tesla is due to report third-quarter earnings on Oct. 21.
Pump.fun built its name as the place where memecoins are born. Now it wants a piece of the leveraged trading business, too.
A post on X announced that Pump.fun is launching crypto perpetual futures trading powered by Hyperliquid. API data shared around October 9, 2026, shows the platform pulling funding rates and open interest for BTC and ETH perpetuals directly from Hyperliquid’s HyperCore mainnet.
What Pump.fun is actually plugging into
Perpetual futures are a type of derivative contract. They let traders bet on an asset’s price without owning it, and with no expiration date.
The funding rate is a periodic payment between long and short traders that keeps the contract price tethered to the real market price. Open interest measures how many contracts remain open at a given time.
Both figures are being sourced from HyperCore, Hyperliquid’s core trading layer. Rather than building its own derivatives engine from scratch, Pump.fun is borrowing Hyperliquid’s order book and liquidity.
The leverage on offer is substantial. According to the research findings, traders can access up to 40x margin on BTC and 25x on ETH.
A partnership that has been building for months
This is not Pump.fun’s first integration with Hyperliquid’s stack. On August 26, 2026, the platform added support for HyperEVM, Hyperliquid’s smart contract environment, enabling USDC-denominated spot trading with near-zero fees.
Hyperliquid’s perpetual market recorded $12.43 billion in daily trading volume in late August 2026. That is the liquidity pool Pump.fun users will effectively be tapping.
By early October 2026, Pump.fun had surpassed Hyperliquid in 30-day revenue.
Background: from memecoin factory to trading venue
Pump.fun launched in January 2024 as a memecoin launchpad, becoming a central hub in the memecoin sector.
Rival platform FOMO introduced Hyperliquid-based perpetuals trading in June 2026, broadening the range of assets its users could trade. Pump.fun is entering a lane a competitor already occupies.
What this means for traders and the platforms
Hyperliquid is becoming backend infrastructure for consumer-facing crypto apps. FOMO uses it. Pump.fun now uses it for both spot and perpetuals.
The risks deserve equal billing. Leverage of 40x on BTC and 25x on ETH can turn modest price swings into total losses. Liquidation on a leveraged position is a different and less forgiving experience than spot trading.
There is also concentration risk at the infrastructure level. If multiple consumer platforms rely on HyperCore for pricing and execution, any disruption on Hyperliquid could ripple across all of them at once.
Key metrics to track from here include open interest on Pump.fun’s perpetual markets, whether its 30-day revenue lead over Hyperliquid holds, and how FOMO responds to a larger rival entering its lane.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Charles Schwab dokončil spuštění služby Schwab Crypto pro maloobchodní klienty: oprávnění klienti nyní mohou přímo obchodovat Bitcoin a Ether za poplatek 0,75 % za každý obchod.
Charles Schwab’s crypto research team says the asset still has strong fundamentals for the future, and it expects regulatory progress to help the broader market.
What Schwab’s researchers are saying
Analyst Adam Lynch made the bullish case on October 15, 2026. He pointed to nearly $60 billion in ETF inflows since early 2024 as evidence that demand runs deeper than a passing trend.
“Bitcoin is strong. It’s powerful… still has strong fundamentals for the future,” Lynch said.
Jim Ferraioli, Schwab’s Head of Crypto Research, noted that Bitcoin’s volatility now sits at about 40, down from a previous range of 50 to 60. He also put Bitcoin’s market cap at approximately $1.6 trillion and said the tokenization of real-world assets has reached around $50 billion.
On regulation, the team cited progress in the US, including clarity on Bitcoin and Ether as digital commodities.
Schwab Crypto goes fully live
Schwab completed the full retail rollout of Schwab Crypto around October 16, 2026. Eligible clients can now trade Bitcoin and Ether directly inside their Schwab accounts. Each trade carries a fee of 0.75%. Schwab plans to add more tokens to the platform by the end of the year.
The service runs through Schwab’s Premier Bank, with Paxos providing sub-custody support and handling execution.
CEO Rick Wurster has described crypto trading as a new source of revenue for the firm. Schwab’s clients hold approximately 20% of the assets in spot crypto ETFs, within Schwab’s $13 trillion in managed assets.
What this means for investors and the industry
Schwab’s research suggests modest allocations to crypto within diversified portfolios.
The 0.75% fee will be one point of comparison for cost-conscious traders. Watch, too, whether Schwab follows through on its plan to add more tokens by year-end.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Vývojáři XRP Ledger nasadili nouzovou opravu chyby přetečení celého čísla, která mohla umožnit vytvoření XRP nad limit celkové nabídky. Zneužití ve veřejné síti nebylo zaznamenáno.
XRP Ledger developers implemented an emergency security fix after discovering a vulnerability that could have enabled attackers to generate spendable XRP beyond the predetermined supply limit. This decision bypassed the protocol’s standard two-week validator approval process, a move that has stirred debate within the XRP community about the balance between security and decentralization.
Security Patch Addresses 11-Year-Old VulnerabilityOn September 25, the development team released a critical update after identifying an integer overflow flaw in the XRPL payment engine. This vulnerability, which has existed since 2015, could have allowed specially crafted transactions to create surplus XRP tokens unrelated to the amount actually paid by a sender.
Investigators reported no evidence that the vulnerability had been exploited on the public network. However, developers emphasized that the potential risk to the XRP supply warranted immediate action.
Developers explained that the threat could not wait for the traditional validator voting period, noting that “publishing the patch and leaving the flaw exposed would have given attackers enough information to reproduce and exploit it.”
Instead of following the typical governance process, the fix was applied instantly on each server upon upgrading to xrpld 3.4.1. This approach differed from the usual amendment procedure, where at least 80% of trusted validators must support changes over two consecutive weeks.
Mini dictionary: Integer overflow, a software bug that occurs when a calculation produces a number larger than the maximum value a variable can store, causing unpredictable behavior or exploits in computer systems.
Deviation from Normal Governance Raises ConcernsUnder normal XRPL procedures, protocol changes affecting transaction processing go through extensive validator review to ensure the stability and consensus of the network. By skipping this step, the emergency patch introduced a brief period of uneven transaction validation between servers running different software versions.
During this interval, upgraded servers would have rejected malicious transactions, while any servers still running older software could have accepted them, potentially disrupting ledger validation. However, no incidents were detected during this window.
In contrast, a recent Batch security fix from the same development group adhered to the standard amendment process, activating on October 9 through a typical network-wide consensus.
Type of FixDeploymentActivation DateEmergency security patchInstant (server upgrade)September 25Batch fixValidator vote (amendment)October 9Debate Over Developer Authority and DecentralizationThe rapid deployment triggered discussion about the role of developers and validators in urgent network situations. Some have raised concerns about distributing patched software in advance of public disclosure, which could be perceived as granting developers excessive influence over the protocol.
Supporters argued that immediate coordination was necessary to prevent potential exploitation. The XRPL Foundation, a non-profit entity supporting network development and maintenance, rejected suggestions that validator operators were compelled to update, emphasizing the independence of each operator’s decision.
The XRPL Foundation asserted, “Validator operators were not forced to install the patch. Each made decisions independently, and no evidence emerged of forced compliance.”
Meanwhile, planned lending functionality updates for XRPL continue to follow the regular governance process, underscoring that routine improvements still depend on validator consensus.
Developers have insisted that bypassing the traditional amendment process should remain an exception, reserved only for severe security issues, and not evolve into standard practice for protocol changes.
The episode has reassured XRP holders that the immediate risk has been resolved, as the vulnerability was patched and no exploitation has been detected. However, it has also prompted a wider conversation about how the network can remain both secure and decentralized in the face of unforeseen threats.
Upbit 16. listopadu 2026 ukončí obchodování s kryptoměnami Zilliqa (ZIL) a Sophon (SOPH). U ZIL k tomu dochází, protože nebyly vyřešeny důvody, kvůli nimž byl zařazen na seznam aktiv s obchodním upozorněním.
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Upbit Korea, the largest crypto exchange in South Korea by trading volume and users, announced its latest delistings. The delistings will take place in November, allowing traders time to act accordingly before the deadline.
Upbit will suspend trading support for Zilliqa (ZIL), including ZIL/KRW and ZIL/BTC pairs. Trading support will be terminated on Monday, November 16, 2026, at 15:00 KST. This follows a recent security incident with the Zilliqa Ledger app in July of this year.
On July 22, 2026, Upbit added Zilliqa (ZIL) to the trading caution list. Afterward, Upbit conducted another detailed review of virtual assets and determined that the reasons for designating Zilliqa as a trading caution item have not been resolved. Upbit therefore decided to end trading support in accordance with its policy on the designation of virtual assets as caution items and the end of trading support.
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Sophon (SOPH) was also announced to be delisted, with trading support to be terminated on Monday, November 16, 2026, at 15:00 KST. The affected trading pairs are SOPH/KRW, SOPH/BTC, and SOPH/USDT.
In related news, Hive Dollar (HBD/BTC) and District0x (DNT/BTC) have been designated as trading caution items on Upbit, and accordingly, deposit services will be temporarily suspended. The tokens have been flagged with an investment warning, with deposit services temporarily halted and delisting possible pending further review.
The trading caution item designation period for MANTRA (MANTRA/KRW, MANTRA/BTC, MANTRA/USDT) has been extended until the second week of November 2026, from November 9 to November 13.
XRP/KRW is the most traded pair on UpbitMeanwhile, XRP continues to dominate trading volumes on Upbit, surpassing major cryptocurrencies Bitcoin and Ethereum.
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According to CoinMarketCap data, XRP's Korean won pair was the most traded market on Upbit over the past 24 hours, with about $87.12 million in volume, ahead of Bitcoin's $74.69 million and Ethereum's $56.33 million.
Korea has long been one of XRP's most active speculative markets, with the cryptocurrency's dominance in trading volumes coming as little of a surprise. However, XRP remains slightly muted, up just 2.76% in the last 24 hours to $1.33, following this week's choppy price action.
XRP is compressing between its 50-day and 200-day moving averages, with the market paying close attention, as is usually the case when it starts leading volume on Korean exchanges.
David Schwartz: XRP Ledgeru nechybí žádná zásadní technologie; hlavními překážkami širšího využití jsou likvidita, vstupy do ekosystému a výstupy z něj a napojení na finanční systémy.
David Schwartz, one of the original architects of the XRP Ledger, says the network’s long-term health depends on bringing in more independent players, so that it does not end up serving Ripple alone.
Speaking in an interview marking Evernorth’s Nasdaq debut, Ripple’s CTO Emeritus said new participants such as the XRP treasury company help guard against a risk that even well-meaning builders face. Schwartz is a strategic adviser to Evernorth and sits on its board.
What to know:
Schwartz says more voices are needed in XRP Ledger governance so the network is not seen as “a tool to serve Ripple’s interests only.”He sees no significant technical gaps holding back banks or asset managers.The real obstacles are liquidity, on- and off-ramps, and connecting the ledger to existing financial systems.A governance warning from the ledger’s co-creator
Schwartz said most of the XRP Ledger’s technical problems are solved. The harder question now is whose needs the ledger should serve.
“You can build a blockchain that does one thing, or you can build a blockchain that does something else,” he said. Figuring out which problems to aim it at is the challenge.
That is where a single dominant player can go wrong. “Even if you have the best intent, it’s very easy to convince yourself that what’s good for you is what’s good for everyone,” he said.
Schwartz said Evernorth’s plan to run validators and take part in the ledger’s development adds needed diversity. That matters, he said, for people’s ability to adopt the XRP Ledger “and be confident that it’s not going to become a tool to serve, like, Ripple’s interests only.”
“Going to the moon is a solved problem”
Schwartz used a space analogy to describe where the XRP Ledger stands. Humans reached the moon more than 50 years ago, he noted, so the technology is proven. But actually going there today would still be hard.
“Being fantastic technically is not sufficient to be useful in the real world,” he said.
He pointed to liquidity provision and on- and off-ramps as the areas that will do the most for the ledger, and also the ones that carry the most risk. Regulation was once a major barrier, but he said those “headwinds have turned into tailwinds.”
Lending is live, but DeFi is not yet connected
Native lending is already live on the XRP Ledger, Schwartz said. What is missing is integration with the wider DeFi ecosystem.
Most activity today centres on tokenizing real-world assets, which he called “a necessary piece of plumbing.” The next step is letting people move money in and out of those assets, borrow and manage their holdings. “People need to be able to borrow money. They need to have sensible investments,” he said.
He added that holding XRP on a corporate balance sheet is “very challenging” without a listed vehicle like Evernorth.
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MUFG, Mizuho a SMBC úspěšně otestovaly společný stablecoin navázaný na jen pro přeshraniční vypořádání transakcí pro Mitsubishi Corporation; komerční spuštění plánují před koncem fiskálního roku.
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Japan's largest megabanks (MUFG, Mizuho, and SMBC), together with Mitsubishi UFJ Trust and TISI Inc., have officially reported the successful completion of the first joint trials of a yen stablecoin.
As part of a closed pilot project supervised by the state Financial Services Agency (FSA), the partners tested cross-border settlements for the trading giant Mitsubishi Corporation. The stablecoins, issued with the status of "trust beneficiary rights," went through the full cycle from issuance to final redemption into fiat without failures.
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The commercial launch of the system is planned before the end of the current fiscal year.
What does XRP have to do with it? (Actually, quite a lot)Officially, Ripple is not mentioned in the consortium's documents. However, in the context of the Japanese market, this test is inevitably viewed through the prism of the XRP Ledger (XRPL) ecosystem, since all of the "big three" megabanks have a deep history of integration with Ripple's technologies. Any banking blockchain initiatives in the country largely rely on the foundation laid by this network over many years.
Implementation architecture of Japan's multi-bank joint yen stablecoin pilot. Source: Mitsubishi UFJ Trust / PR TIMESBack in 2017, MUFG, Mizuho, and SMBC joined a large-scale banking consortium under the auspices of SBI Ripple Asia, created to implement RippleNet technologies for instant domestic and cross-border settlements. This institutional link continues at the present stage.
Not long ago, as part of Japan's financial infrastructure innovation program, Mizuho Bank and SMBC's investment arm concluded direct agreements with Ripple Labs to deploy real-world asset (RWA) tokenization infrastructure and institutional DeFi solutions specifically on the XRP Ledger.
The launch of their own digital yen on the Progmat platform (created by MUFG on the Avalanche blockchain) looks like an attempt by the megabanks to build an isolated alternative to external liquidity bridges such as XRP, in order to fully control compliance and fees within the traditional banking vertical.
The resulting configuration points to a possible division of the market in the future. On the one hand, the closed infrastructure of the megabanks and the Progmat platform will likely try to take over the conservative sector of intra-corporate B2B transfers.
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On the other hand, the parallel launch of Ripple's regulated dollar stablecoin RLUSD by SBI Holdings and the well-developed liquidity of XRP may preserve dominance in cross-border retail and open fintech services.
The mutual integration of banking platforms with the Web3 industry, including their participation in XRP Tokyo summits, does not rule out a scenario in which the commercial launch of the digital yen will not displace XRPL, but may instead lead to the formation of a segmented landscape where corporate fiat and open digital assets coexist at the level of liquidity gateways.
XRP’s supply reduction mechanism has attracted renewed attention amid a surge in decentralized finance expansion and increased transactional activity on its blockchain. The network’s move to support more DeFi services, including lending, multi-currency liquidity solutions, and direct cross-border settlements through banking partnerships, could significantly expand XRP’s market presence.
Supply reduction draws analyst focusSome analysts have highlighted the XRP burning mechanism as an underappreciated element in the asset’s long-term outlook. With transaction volumes on the XRP Ledger reaching record levels, more tokens are being permanently removed from the circulating supply every day. Dr. Kamilah Stevenson, an industry researcher, noted that as supply diminishes daily, the network experiences what she described as a “dual force” driving potential price appreciation for XRP.
Technical analysts such as ChartNerd and Egrag Crypto have projected ambitious scenarios in which XRP could reach $10, referencing historical price patterns and trading indicators. Although Dr. Stevenson did not specify price targets, she indicated that the implications of the burn mechanism are significant for anyone tracking the altcoin’s development.
“Here’s what most people miss: every single transaction on the XRP ledger burns XRP. Not sent somewhere. Not stored. Gone. Permanently.”
Dr. Stevenson argued that increasing institutional adoption combined with the supply burn creates what she described as an ideal setting for long-term bullish momentum on XRP, contingent on strong user engagement across the network.
Burn statistics and network metricsAccording to recent data compiled by CryptoTuts, the aggregate amount of XRP burned rose from 14.38 million on September 15 to 14.41 million by October 15, translating to 24,745 XRP eliminated within a 30-day span. On average, this equates to about 825 XRP destroyed daily. Over a seven-day period, the burn tally reached 2,696 XRP.
DateTotal XRP Burned (Millions)Summary (XRP Burned)Sept. 1514.38–Oct. 1514.41+24,745While the daily figures represent a small portion of the nearly 100 billion XRP total supply, proponents claim that sustained high network use could eventually accelerate supply contraction.
If the current pace were to be maintained for an entire year, approximately 301,000 XRP would be removed from circulation—amounting to just 0.0003% of the total supply. Documentation for the XRP Ledger explains that burning happens through transaction fees designed to prevent spam and defend against denial-of-service attacks.
The minimum transaction fee, referred to as “drops,” equals 0.00001 XRP per transaction. With 100,000 transactions at this minimum, one XRP is destroyed. A billion minimum-fee transactions would burn 10,000 XRP. This drop-based fee system may pressure prices higher during periods of elevated network activity.
Ripple, the fintech company behind the XRP Ledger, releases a substantial volume of XRP tokens from escrow into circulation every month as part of its operating protocol. A regular monthly release of 1 billion tokens has the potential to add significant market supply if not matched by increased demand.
In theory, deflationary token models—when balanced by healthy demand—have the potential to raise the asset’s price. The scale of this effect depends on network utility, transaction levels, and broader market sentiment.
Mini dictionary: XRP burning mechanism: On the XRP Ledger, every transaction requires a small fee paid in XRP, known as a “drop.” This fee is not paid to any entity but is permanently destroyed, meaning the total supply of XRP decreases by the amount of transaction fees consumed, providing a deflationary pressure on supply.
Ripple’s monthly escrow releases and ongoing burn rates remain key variables as institutional interest and DeFi activity continue to shape the outlook for the cryptocurrency.
Zásoby XRP na 41 burzách od února 2025 klesly o 17,77 % na 15,7 miliardy tokenů. Institucionální akumulace omezuje likviditu, celková nabídka však zůstává na úrovni 100 miliard XRP.
XRP’s maximum supply is set at 100 billion tokens, making it one of the most abundantly minted major cryptocurrencies. However, a recent claim from game designer and crypto commentator Chad Steingraber suggesting almost all XRP could disappear from public markets has reignited debate within its community.
Steingraber’s Scarcity ArgumentSteingraber argued that XRP could experience a dramatic price surge if the available tradable supply shrinks to only 21 million tokens. He believes this reduction would result from XRP being pulled out of public markets, leaving a fraction available for trading and causing upward price pressure.
The reason XRP will be a high price is for one simple reason: it will be removed from public access, with only a small amount tradable, like 21 million XRP available.
This viewpoint quickly captured attention among XRP supporters, as it implies an extreme level of scarcity reminiscent of Bitcoin, which also has a 21 million maximum supply.
Exchange Supply Continues to DiminishPrevious data shared by Steingraber indicated that there were 15.7 billion XRP left across 41 exchanges. This number reportedly declined by 3.4 billion XRP, or about 17.77%, since February 2025. The shrinking availability supported his argument that a supply crunch might be emerging. However, community members noted a key distinction: reported exchange balances comprise both user holdings and assets controlled by the exchanges themselves. As a result, the actual liquid trading supply could be significantly smaller than the exchange total figures suggest.
MetricAmount (Feb 2025)Amount (Now)% ChangeXRP on exchanges19.1 billion15.7 billion-17.77%This ambiguity leaves doubts regarding the true scope of available XRP for active trading, with some believing the liquid float may be even lower than the numbers suggest.
Institutional Accumulation and ETF DemandGrowing institutional interest in XRP is also limiting available supply. Spot XRP exchange-traded funds (ETFs) have locked up billions of tokens in ETF custody, preventing those assets from participating in routine trading. The role of ETFs as long-term holdings means this supply is unlikely to return to active circulation soon.
Evernorth, a dedicated investment vehicle established for institutional XRP exposure, recently raised over $1 billion to acquire XRP through public equity channels. The company confirmed holding 473 million XRP—valued at nearly $672 million—alongside $300 million in cash. This kind of accumulation signals a move toward long-term storage of significant XRP amounts by corporate entities and funds.
Mini dictionary: Evernorth is a financial company that specializes in structured products allowing institutions to gain exposure to XRP through regulated public market channels, encouraging greater mainstream adoption of the asset.
Steingraber’s claim that only 21 million XRP will eventually remain tradable met with strong criticism. One respondent emphasized that the XRP Ledger (XRPL) is a permissionless blockchain with a 100 billion token maximum supply, meaning the asset cannot simply be removed from public reach. The commenter acknowledged that while institutional accumulation can restrict liquidity, total XRP supply remains unchanged.
Another community member suggested that major macroeconomic events, such as a potential cyberattack, could influence XRP’s price before any supply-related change. A separate commenter referenced existing institutional contracts, noting that large-scale accumulation has quietly progressed for some time. Others voiced the opinion that experienced XRP investors already anticipate such supply trends.
Institutional accumulation can lower available liquidity, but it doesn’t eliminate public access to XRP. The XRPL remains an open and permissionless platform with a total cap of 100 billion tokens.
Ripple a společnost Privy, kterou vlastní Stripe, integrují vestavěné peněženky do XRP Ledger, aby vývojáři mohli programově spravovat XRP a stablecoin RLUSD.
Stripe’s expanding role in both cryptocurrency infrastructure and artificial intelligence-driven shopping is drawing new connections between payments, digital assets, and automated agents.
Recent developments include a partnership involving Stripe-owned Privy and Ripple to support embedded wallets on the XRP Ledger, continued efforts to link AI shopping interfaces more tightly with payment flows, and comments from a senior Stripe executive on the potential disappearance of traditional checkout pages.
Ripple and Privy announced a collaboration to bring Privy’s wallet infrastructure to the XRP Ledger.
The integration allows developers to create and manage wallets on the network programmatically, sign transactions, and handle assets such as XRP and Ripple’s RLUSD stablecoin without building the underlying wallet systems themselves.
Embedded wallets operate inside applications, so users can hold and transfer funds without installing a separate crypto wallet or managing seed phrases during everyday use.
Users retain the option to export private keys and recovery phrases for portability.
Server-side wallets are also supported, enabling AI agents to hold funds and complete payments, including through the x402 protocol designed for software-to-software transactions.
Privy, which Stripe acquired and continues to operate as a separate product, described the move as facilitating stablecoin payments, fintech applications, and agentic commerce on the ledger.
Ripple executives noted the network’s existing scale—more than 8 million funded accounts and substantial cumulative value transferred—as a foundation for these use cases.
The companies indicated further enhancements, such as policy controls and gas sponsorship, are planned.
Separately, Stripe has been extending the links between AI-powered product discovery and payment completion.
One recent example is Constructor’s launch of Agentic Checkout, which embeds Stripe payments—including its Link digital wallet—directly into onsite AI shopping agents.
Shoppers or agents can ask questions, receive recommendations, refine selections, and complete purchases within the same conversational interface on a retailer’s site or app, without a separate checkout handoff.
Stripe has also expanded Link support for personal AI agents from partners such as Meta (via its Muse assistant), allowing agents to initiate purchases using stored credentials or single-use instruments while keeping user details protected and requiring approvals.
Broader infrastructure efforts include the Agentic Commerce Protocol (developed with OpenAI) and the Agentic Commerce Suite, which help merchants expose product catalogs and accept agent-initiated payments across AI platforms.
These steps aim to reduce friction between finding a product and paying for it as agents take on more of the shopping journey.
In an appearance on the A16z Show, Stripe president of technology and business Will Gaybrick suggested that conventional checkout pages may eventually vanish as AI commerce grows.
He argued that even a relatively modest version of agentic commerce could eliminate the need for users to navigate a dedicated checkout screen, potentially allowing purchases directly from a product display.
Gaybrick noted open questions about the precise form agent-to-merchant or machine-to-machine transactions will take, while pointing to existing quick-pay tools such as Stripe Link and Shopify’s Shop Pay as early steps that already streamline the process.
He described an internal shift at Stripe toward viewing the company as a multi-product platform rather than primarily a payments provider with added features.
Stripe leadership has separately expressed optimism that a growing share of online commerce will involve agents acting on behalf of users or other systems.
The announcements illustrate Stripe’s dual focus on crypto-enabled payments infrastructure through Privy and on reducing steps between AI-assisted discovery and settlement. How quickly agentic flows become mainstream will depend on user trust, merchant adoption, and the maturation of supporting protocols and wallets.
Standard Chartered spouští pro majetné klienty v SAE obchodování s bitcoinem a etherem přímo prostřednictvím bankovních účtů, včetně úschovy a vypořádání v rámci banky.
Standard Chartered is introducing a cryptocurrency trading solution that lets its wealthy UAE clients buy and sell Bitcoin and Ethereum directly through their existing bank accounts in a closed-loop system with institutional custody.
The bank says this marks a global first for the institution and the UAE’s first such offering by an international bank, regulated by the Virtual Assets Regulatory Authority (VARA).
Eligible affluent clients can execute trades within the bank’s ecosystem where Standard Chartered handles custody and settlement to reduce third-party risks through collaboration with its wealth and corporate businesses plus SC Ventures-backed Zodia Markets.
The service launches first for Professional Investor clients in the UAE with expansion planned to other markets later and builds on the bank’s existing crypto access through ETFs, structured products and OTC derivatives.
Samir Subberwal, Global Head of Wealth Solutions at the bank, highlights growing client interest in digital assets.
“With digital assets moving into mainstream wealth conversations, clients are increasingly looking not only for access, but also for the security, trust and confidence that comes from investing through a regulated and trusted institution.”
Rola Abu Manneh, CEO for UAE, Middle East and Pakistan at Standard Chartered, notes the strategic fit with the region.
“We are proud to be the first international bank in the UAE to launch a cryptocurrency trading offering. The UAE was a natural choice for this launch, given the country’s forward-looking approach to innovation, strong regulatory environment and growing leadership in digital assets. This also reflects the strategic importance of the UAE within our network as one of our four global wealth hubs.”
Deutsche Bank, Germany's top bank, is set to roll out a crypto custody service in the coming weeks, a major step to deepen the company's presence in the world of digital assets.
It plans to start by providing custody services for major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The company will later expand its digital asset offerings,
Gerald Podobnik, co-head of the corporate banking division at Deutsche Bank, announced the company's plans at the International Monetary Fund and World Bank meetings in Bangkok.
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The new custody service will first be rolled out in Germany. The bank plans to expand its presence in key financial centers across Asia by 2027.
The bank also has plans to offer services that will enable its clients to convert fiat to stablecoins and vice versa.
The custody service is mainly targeted at institutions and corporate entities and not individual crypto investors.
As per the bank's earlier announcement, the company will help manage crypto wallets and private keys on behalf of its clients so they do not have to set up their own custody.
The bank had mentioned some stablecoins like USDC and EURC as part of the assets it plans to offer custody for when the service is launched. The fiat-to-stablecoin conversion services will come later.
Deutsche Bank is doubling down on blockchainDeutsche Bank is also working to roll out tokenized deposits and help corporate clients issue securities such as digital bonds on the blockchain.
Tokenized deposits are simply traditional bank deposits on a blockchain. This could help financial institutions move and settle funds using blockchain technology.
On the other hand, issuing bonds on a blockchain can simplify the process of issuing and settling debt securities.
Podobnik also said the bank believes blockchain-based financial products will be a complement to the bank's existing infrastructure and not a substitute for traditional financial services.
This move is part of Deutsche Bank's corporate banking strategy. They aim to see an 8% compound annual revenue increase until 2028.
XRP dosáhlo 15. října na největší jihokorejské burze objemu spotového obchodování v páru s KRW přes 145,6 mil. USD, čímž překonalo Bitcoin (126,5 mil. USD) i Ethereum (92,1 mil. USD).
XRP is gaining the spotlight in South Korea as the leading altcoin continues to see increased participation among traders within the country against other major crypto assets.
Amid the heightening interest in XRP, recent onchain data shows that XRP has outperformed Bitcoin and Ethereum in spot trading volume on South Korea's largest cryptocurrency exchange.
XRP sees strong trading activity in South KoreaThe data shows that XRP's spot trading volume against the South Korean won (KRW) reached over $145.6 million on October 15, despite the broad market slowdown seen on that day.
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As such, XRP outperformed both Bitcoin and Ethereum as they recorded $126.5 million and $92.1 million respectively in spot trading volume on the same day.
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This shows that XRP attracted more spot trading activity than the two largest cryptocurrencies by market capitalization on the exchange, signaling strong demand for XRP among Korean traders.
Further data showed that the trend continued until October 16, as even though trading volumes across all three cryptocurrencies had cooled, XRP still maintained its lead.
Will South Korea drive recovery for XRP?While XRP was able to extend its dominance for a second consecutive day, it appears that interest in the Ripple-associated altcoin remains strong in the South Korean crypto market.
Market analysts believe that the strong demand for XRP on Korea's largest crypto exchange could impact its broader market value and drive a further rally in XRP's price, as Upbit's trading data have proved to be a useful indicator of local investor activity.
Vitalik Buterin, co-founder of Ethereum, has introduced an advanced framework for anonymous payments and privacy-preserving agent interactions in the Ethereum ecosystem. The initiative centers on an OpenAI-compatible agent daemon designed to process requests while erasing identifiable information through local prompt rewriting. Buterin reported that he is using the “qwen3.8-flash-next” language model for these tasks, which helps obscure stylistic and user signatures before relaying requests to external models.
Privacy measures and technical designEvery conversation managed by Buterin’s agent is assigned a dedicated Tor circuit to conceal network identity. Outbound requests are routed through Tor, and random cover traffic is introduced to disrupt timing patterns and further mask activity. This architecture aims to prevent possible correlation between user prompts, payment credentials, and network metadata.
Payments for agent interactions utilize zkAPI, a privacy-focused protocol created by the Open Anonymity Project with support from the Ethereum Foundation. With zkAPI, users top up private balances and employ zero-knowledge proofs to show sufficient funds for agent requests, effectively separating wallet identity from query data. The protocol has been live on Ethereum mainnet since October 1.
The agent harness itself is sandboxed using bwrap and is experimenting with MicroVM isolation for additional security. The entire platform is wrapped with torsocks to ensure all outgoing traffic passes through Tor, providing an extra layer of anonymity and privacy. Buterin has also implemented a “paranoid mode,” which adds further randomization to traffic and request handling.
Mini dictionary: zkAPI, or zero-knowledge API, is a protocol enabling private payments by allowing users to prove fund availability without revealing linkages between deposits and specific transactions. This system leverages advanced cryptographic proofs to protect user anonymity and transactional privacy.
Wrapped zkAPI, Tor, additional cover traffic, plus local LLM prompt rewriting are combined in an OpenAI-compatible daemon, allowing agent requests to remain unlinkable and private through a “paranoid mode” that assigns each conversation a separate Tor circuit and adds random cover activity.
Implications for agent-based financeWith autonomous AI agents increasingly engaging directly in economic activities—holding digital assets, accessing financial protocols, and interacting with data providers—Buterin stressed the importance of preventing leakage of sensitive information. He argued that linkages between wallet activity, prompt content, and network address can compromise user privacy.
The combination of zkAPI and advanced network obfuscation offers developers a way to build agents on Ethereum, and potentially other blockchains, that can cover their payment trails. This removes the risk of exposing wallet balances or revealing user behavior patterns via payment metadata.
Developers interested in leveraging inference markets or creating complex agent harnesses may find these tools critical for maintaining confidentiality and operational separation between agent actions and user identity.
Technical challenges and future developmentsButerin acknowledged that while Tor and cover traffic can defend against passive surveillance, they may not fully protect against adversaries with the ability to correlate timing data from both ends of a communication channel. He pointed out that Tor was not originally intended for this application and noted limitations in preventing active correlation attacks.
He suggested that mixnets, which delay and shuffle messages and add constant cover traffic, can counter more sophisticated threats, but often introduce additional latency and bandwidth costs. Buterin indicated that this kind of persistent privacy challenge might be better addressed by a dedicated mixnet infrastructure rather than low-latency anonymity networks.
Usability remains satisfactory despite some increase in latency, especially when initiating fresh dialogues. Buterin noted that lower gas fees for deposits and withdrawals with zkAPI are expected soon, potentially expanding its appeal on mainnet as more developers adopt agent harnesses and inference markets.
Developer adoption and real-world use will determine the effectiveness of this privacy-focused stack as Ethereum continues to evolve toward more autonomous, agent-driven activity.
a16z představilo Aerie, systém pro agregaci kvantově odolných podpisů; v testech zpracovalo 32 768 podpisů Falcon za 0,65 sekundy, tedy 29krát rychleji než leanVM v Ethereu.
Ethereum’s proposed approach to quantum resistant security could introduce unnecessary complexity and conflict with its long term privacy ambitions, according to Justin Thaler, a researcher at a16z crypto.
In a Friday research announcement, Thaler and a team of cryptographers introduced Aerie, a system designed to aggregate thousands of quantum resistant digital signatures into a single cryptographic proof.
The researchers argue that lattice based cryptography offers significant performance advantages over the hash based systems being developed as part of Ethereum’s long term roadmap.
The announcement comes as Ethereum works toward making its consensus, execution and data layers resistant to potential quantum computing attacks by December 2029.
Aerie challenges Ethereum’s quantum security approach Ethereum currently relies on BLS signatures, which allow thousands of validator approvals to be combined efficiently. However, the cryptographic system is not considered resistant to sufficiently powerful quantum computers.
Replacing these signatures presents a challenge because existing quantum resistant alternatives are substantially larger and more expensive to aggregate.
Ethereum researchers have been developing leanVM, a system that uses cryptographic proofs to compress signatures and reduce the burden on validators.
However, Thaler argues that the hash based approach requires multiple rounds of recursive proof aggregation, adding computational costs and complexity.
Aerie instead combines lattice based signatures with lattice based cryptographic proofs, allowing thousands of signatures to be aggregated directly.
In tests conducted on an Apple M4 Max laptop without GPU acceleration, Aerie aggregated 32,768 Falcon signatures in 0.65 seconds, equivalent to more than 50,000 signatures per second.
The resulting data averaged approximately 42 bytes per signature, while proof verification took 54 milliseconds on a single CPU core.
According to the researchers, Aerie processed consensus signatures 29 times faster than Ethereum’s leanVM in comparable benchmarks. The advantage increased to roughly 60 times for stateless transaction signatures.
The results are based on the researchers’ published benchmarks and do not establish how the system would perform across a live blockchain network.
Researchers question whether hash based systems can support private transactions Beyond performance, Thaler raised concerns about the compatibility of Ethereum’s proposed cryptographic architecture with its privacy objectives.
The Ethereum Foundation’s draft roadmap identifies both quantum resistant security and native private transactions as long term priorities.
However, Thaler argues that relying exclusively on hash based cryptography cannot provide all the functionality required for private payments.
Private transfers require encryption so recipients can securely receive information about transactions, including when the sender and recipient have never communicated before.
Public key encryption cannot be constructed from hash functions alone in a general black box setting, according to established cryptographic research.
As a result, Thaler argues that Ethereum may eventually need structured cryptographic systems, such as lattices, regardless of whether it adopts them for signatures and proofs.
He also challenged concerns that future AI advances could compromise lattice cryptography, arguing that speculative attacks should be weighed against the complexity of existing alternatives.
Nevertheless, lattice based systems carry their own security and implementation challenges. The Aerie researchers acknowledge that Falcon signing has historically required complex arithmetic and substantial memory, although recent improvements have reduced those requirements.
Ethereum has not committed to adopting Aerie, and its proposed quantum resistant architecture remains under development.
The Ethereum Foundation currently aims to achieve full quantum resistance across the network by December 2029, with research continuing into signature aggregation, cryptographic security and private transactions.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Two leading South Korean cryptocurrency exchanges, Upbit and Bithumb, have decided to end trading support for the Zilliqa (ZIL) token. Upbit announced that ZIL will be removed from its platform on November 16th, while Bithumb also stated that it will delist the token.
According to an announcement by Upbit, trading support for Zilliqa will end on November 16, 2026, at 09:00. The exchange stated that the decision was made due to the failure to resolve the issues that previously led to ZIL being placed on the delisting watchlist.
Upbit announced that, following an evaluation, it has determined that the existing issues related to ZIL have not been resolved. Therefore, it has been decided to terminate trading support for the token on the platform.
On the other hand, Bithumb, another South Korea-based cryptocurrency exchange, announced that it will delist Zilliqa. However, Bithumb’s announcement did not provide details on when ZIL transactions will be terminated.
Bithumb also announced that the MANTRA token’s delisting watchlist has been extended. This means the previously initiated review process for MANTRA will continue.
Cryptocurrency exchanges regularly review the digital assets they list based on certain criteria. If problems are not resolved after these reviews, trading support for the tokens in question may be terminated.
Extending the period on the watchlist does not directly mean delisting. This decision indicates that the asset in question continues to be under review.
Upbit and Bithumb’s decisions regarding ZIL reveal that the token will lose trading support on two major South Korean exchanges, while uncertainty continues regarding MANTRA’s future on Bithumb.
*This is not investment advice.
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Franklin Templeton has picked a favorite blockchain, and it isn’t the one where its tokenized fund began. The firm holds approximately $1.5 billion in tokenized fund shares on BNB Chain as of mid-October 2026.
That figure represents about 59.8% of Franklin Templeton’s total onchain assets. For a firm spread across ten different networks, that is a lot of eggs in one basket.
The numbers behind the shift
Franklin Templeton’s total onchain footprint sits at around $2.55 billion. Those assets are distributed across ten blockchains, but BNB Chain now carries the majority of the load.
The engine behind all of this is Benji, Franklin Templeton’s proprietary tokenization platform. Benji handles the issuance of tokenized fund shares and records ownership onchain. Instead of a back-office database tracking who owns what, a public ledger does the job.
Total assets on the Benji platform reached somewhere between $2.5 billion and $2.6 billion by October 2026. The BENJI token itself accounts for approximately $760 million of that.
The growth curve on BNB Chain was steep. Franklin Templeton’s holdings there surged by over 1,200% in a single month in early 2026.
How a money fund ended up on Binance’s chain
The flagship product here is the Franklin OnChain U.S. Government Money Fund, which trades under the ticker FOBXX. Its shares are represented by the BENJI token.
FOBXX launched on Stellar in April 2021 and became the first US-registered mutual fund to use a public blockchain for transactions and ownership records.
The BNB Chain chapter opened in September 2025, when Benji expanded to the network through a partnership with Binance. Roughly a year later, the newcomer has overtaken the original home.
In August 2026, the SEC issued a no-action letter that allows Franklin Templeton to use BENJI for cash management and collateral purposes.
Roger Bayston, head of digital assets at Franklin Templeton, has framed the effort around making funds easier for investors to access. He has also stressed that the firm wants to expand what tokenization can do while keeping security and compliance at the center.
What this means for tokenization and the chains competing for it
Franklin Templeton manages assets valued at as much as $1.83 trillion, so its choices carry weight well beyond its own balance sheet. BNB Chain now hosts nearly 60% of the firm’s onchain assets.
The SEC letter could be the bigger long-term story. Using BENJI for cash management and collateral turns a tokenized fund share from a curiosity into a working financial tool. If a token representing a government money fund can be posted as collateral, it starts competing with cash and stablecoins for that role, while potentially earning yield along the way.
The key metrics to track from here are straightforward. Watch whether BNB Chain’s share of Franklin Templeton’s onchain assets keeps climbing past 59.8%, and whether the Benji platform pushes beyond its current $2.5 billion to $2.6 billion range.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
AnomaPay spustil soukromé swapy na BNB Chain. Router Fynd od společnosti PropellerHeads spolu s Bebopem automaticky vybírá z dostupné likvidity nejlepší nabídku.
AnomaPay users can now swap privately on BNB Chain in addition to Ethereum, with new routes for better quotes thanks to Fynd by PropellerHeads
AnomaPay private swaps are now live on BNB Chain in addition to Ethereum. Starting today, AnomaPay users can trade one token for another on BNB Chain directly from their shielded balance, with your account information kept out of public view.
The upgrade is powered by Fynd, the DEX router built by PropellerHeads, which now runs alongside the existing Bebop integration. Together they give AnomaPay users the best quote possible, with a wider view of available liquidity, and the ability to swap privately on BNB Chain in addition to Ethereum.
Meet AnomaPay
AnomaPay is a private payments app built on the Anoma Distributed Operating System. It enables private transfers, swaps, yield, and tokenized stocks on public blockchains. Zero-knowledge cryptography keeps your balances, transfers, and swaps visible to you and nobody else. You sign up in seconds with an existing wallet or a passkey, send money with simple payment links instead of long addresses, and pay fees in the assets you’re already using.
Two routes to a better price
When AnomaPay Swaps launched, pricing came only from Bebop, whose request-for-quote system connects you with professional market makers competing to fill your order. Bebop remains a core part of every quote.
Fynd adds a second path. It’s a router that searches onchain trading venues for the best available route for your trade. It looks across decentralized exchanges and liquidity pools, simulates how your order would fill in each, and ranks the options by what you actually receive after gas. Fynd supports both BNB Chain and Ethereum in AnomaPay.
Now, every time you request a swap, AnomaPay gathers quotes from both sources and automatically picks whichever one gives you the better result. You don’t need to compare anything, toggle a setting, or know which venue filled your trade. You just get the stronger quote automatically.
For you, that means:
More liquidity to draw from. Market maker quotes and onchain pools combined give your order more places to find a fill.Better prices. Two independent sources competing on every trade tends to mean tighter quotes and better execution.More pairs and more chains. Onchain routing opens up markets that were harder to serve before, starting with BNB Chain.Zero extra effort. The best quote is selected for you, every time.Everything else about AnomaPay Swaps stays the same. The swap still happens in a single atomic transaction from your shielded balance, so it either completes with at least your quoted minimum or nothing moves at all. Your order still never sits exposed in a public mempool, which keeps the usual front-running tactics out of reach.
About PropellerHeads
PropellerHeads builds open infrastructure for onchain trading. Their Tycho stack streams real-time liquidity data from across DeFi and simulates trades against it with exact onchain logic. Fynd sits on top of Tycho as a fast, trustless DEX router that finds the best path across AMMs and other liquidity sources, weighing gas costs so the route it chooses is the one that leaves you with the most.
Why BNB Chain
BNB Chain is one of the busiest networks in crypto, home to a massive user base, low fees, and the most stablecoin transactions of any chain. It’s also where AnomaPay's public beta first went live, so bringing private swaps here closes an important loop for our earliest users.
The ecosystem has grown in new directions too, from deep stablecoin markets to tokenized stocks, which you can also hold and transfer privately on AnomaPay. Private swaps mean all of that activity can now happen without putting your trades on display.
Swap privately on BNB Chain today
Private swaps on BNB Chain are live in AnomaPay now. Open the app, choose BNB Chain, pick the tokens you want to trade, and confirm. AnomaPay handles the routing, the proving, and the privacy.
Head to anomapay.app and make your first private swap on BNB Chain.
Pacific Meta si vybrala Chainlink CCIP jako preferované řešení interoperability pro japonský finanční sektor; Chainlink ACE zařadí do svého tržiště Partner Solutions.
Pacific Meta, a Tokyo-based blockchain and AI consulting firm, has signed a strategic partnership with Chainlink Labs. The firm is adopting Chainlink’s Cross-Chain Interoperability Protocol, better known as CCIP, as its preferred interoperability solution for Japan’s financial sector.
The deal was announced on October 16, 2026. It targets three areas: institutional tokenized finance, onchain identity and compliance infrastructure.
The two companies are not strangers. They first teamed up in 2023, when the focus was Web3 services and gaming. Three years later, the conversation has moved from game items to financial infrastructure.
What the deal actually includes The centerpiece is CCIP. Different networks don’t natively talk to each other. Moving tokens or data between them requires some kind of connective layer, and CCIP is Chainlink’s protocol for that cross-chain messaging.
By naming CCIP its preferred option, Pacific Meta is effectively telling clients which connective layer it will steer them toward.
The second piece is compliance. Chainlink’s Automated Compliance Engine, or ACE, is being listed on Pacific Meta’s Partner Solutions marketplace.
The partnership also covers market and business development. That work spans asset tokenization, digital ID and compliance infrastructure, with an emphasis on fitting inside Japan’s local regulatory frameworks.
Pacific Meta’s role is part consultant, part matchmaker. The firm has established relationships with major Japanese companies in telecommunications, consumer electronics and digital advertising.
Who is Pacific Meta Pacific Meta was founded on August 10, 2022, and is headquartered in Minato-ku, Tokyo. Shota Iwasaki serves as CEO.
Since launching, the firm has supported over 300 projects across more than 41 countries.
The upgraded partnership marks a change in emphasis. The two firms have moved from consumer-facing Web3 experiments toward the infrastructure that institutions actually require.
What this means for tokenization in Japan Institutions need tokenized assets to move across networks reliably. They also need every transfer to satisfy local rules, and they need some way to verify who is on the other side of a trade. This deal touches all three problems: interoperability through CCIP, compliance through ACE and identity through the digital ID work.
For Chainlink, the partnership offers a local distribution channel in Japan. A consultancy with ties to large domestic firms can introduce its tools to clients that might never have encountered them otherwise.
For Pacific Meta, it means a recognizable infrastructure brand to anchor its institutional pitch.
Still, some caution is warranted. What has been announced is a preferred-solution designation, a marketplace listing and a business development agreement, not a slate of live deployments with named Japanese institutions.
Pacific Meta has highlighted its relationships with major companies in telecommunications, consumer electronics and digital advertising, so the next signal will be whether any of those firms announce tokenization or digital ID projects built on CCIP or ACE.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Circle plánuje expandovat na přibližně 40 rozvíjejících se a rozvojových trzích, ale nezveřejnila seznam zemí, harmonogram ani funkční místní platební koridory.
Circle’s plan to pursue approximately 40 emerging and developing markets has put a measurable question behind its global expansion: where can a business receive USDC and turn it into spendable local money today? The answer changes depending on whether a market means a wallet can hold USDC, a licensed company can issue or redeem it, or a payment provider can deliver a local currency payout. Circle has published evidence for some of those routes, but no country list or opening dates for the 40-market plan.
Summary
Circle’s chief executive described a push into approximately 40 emerging and developing markets on October 16. USDC circulation stood at $72.7 billion on Circle’s October 12 reserve page. Circle’s pending Tazapay purchase would add payout rails spanning more than 100 markets if it closes in 2027. Circle Payments Network reported 175 enrolled financial institutions and $14.7 billion in annualized volume at the end of June. European supervisors will assume part of USDC’s oversight on November 12 after its significant token designation. Circle has outlined an expansion into approximately 40 emerging and developing markets, putting a fresh number on its effort to distribute the dollar stablecoin USDC outside its established routes.
In a Reuters interview published October 16, chief executive Jeremy Allaire identified Southeast Asia, Latin America, Africa and the Middle East as regions where he sees demand. He did not provide the 40 countries, their licensing status, a sequence for entering them, or a timetable for individual payment corridors. The missing details are material to a payment business that must connect a digital dollar to banks, exchanges and domestic settlement systems.
Forty prospective markets are not forty live corridors The statement describes where Circle intends to expand. It is not a list of newly launched products. A person with a blockchain wallet can generally receive a token over a supported network; that does not give the person a direct account with the issuer, a lawful retail offer in every jurisdiction, or a way to redeem dollars at a local bank. Even a licensed payout provider may serve a limited set of customers and transaction types within the country where it operates.
Circle’s own USDC product page says the coin is available in more than 185 countries. The figure describes potential geographic reach of the token. It cannot be subtracted from, or added to, the 40-market target to calculate newly accessible payment markets. The issuer has not published a common definition linking those two numbers. Its first-party minting and redemption products, commercial network memberships and third-party availability each have different eligibility rules.
Its September agreement to buy Singapore-based Tazapay supplies another number that could easily be mistaken for the new plan. Circle said Tazapay had local payout rails in more than 100 markets and more than 60 banking and fintech partners. The acquisition is subject to conditions, including Singapore regulatory approval, and is expected to close in 2027. Tazapay’s existing coverage therefore cannot be presented as 100 new Circle-owned payment markets in October. The parties said Tazapay customers would see no interruption to their existing service during the transaction. A prior account of the $400 million stock deal sets out the announced price and the prospective payment footprint.
The same announcement puts Tazapay’s annualized payment volume above $25 billion and says approximately 60% of its transaction volume already includes stablecoins. Neither statistic measures dollars of new USDC demand caused by the acquisition. The first is a run-rate measure of Tazapay’s payment activity. The second is a share of its existing throughput, which may involve different stablecoins and business uses. Circle did not publish a before-and-after conversion forecast for each corridor.
The most concrete list of working routes is narrower. In an earlier corridor announcement, Circle identified payouts to India through Saber, Singapore and the United States through Tazapay, the Philippines through Coins.ph, the United Arab Emirates through LuLu, and the European Union through Saber. Circle named domestic rails, including India’s IMPS and RTGS, Singapore’s FAST and Europe’s SEPA. Those are named integrations; their existence does not establish identical access, transaction limits or settlement speed for every user within those places.
JUST IN: Visa moves USDC-powered cross-border payouts from pilot to production
Through Inyo Global, eligible businesses can now pre-fund Visa Direct payouts using $USDC, enabling near-real-time funding for international transfers. pic.twitter.com/hXUPMU1S9U
— crypto.news (@cryptodotnews) October 16, 2026 A payment has at least two separate legs Consider a company that holds dollars in one country and pays a supplier in another. A participating financial institution can obtain USDC, transfer it across a supported blockchain, and instruct a receiving provider to deliver local currency. The token may settle between institutions while the supplier sees only a bank deposit. A recipient who accepts USDC directly follows a different route and takes responsibility for holding or disposing of the token. The availability of one route says little about the other.
The payment also has two prices. USDC aims to retain a one-dollar value against dollars, but the amount of local currency received depends on foreign exchange pricing, fees and the provider executing the payout. A quoted transfer time might measure blockchain confirmation while excluding onboarding, compliance review or the domestic payment rail. Without a standard transaction example in each proposed market, the 40-market announcement cannot tell readers the final sum received or the full time to funds.
Regulated counterparties have practical jobs along this chain. An originator screens the sender, a liquidity provider supplies the token or local currency, and a receiving institution meets the destination country’s requirements. A payment can fail at any of those handoffs despite a successful onchain transfer. The claim that a coin is transferable around the clock establishes the availability of the digital leg; it does not make every bank account or domestic system operate on the same schedule.
Circle’s second-quarter report offers a measure of its existing commercial network. At the end of June, Circle Payments Network had 175 enrolled financial institutions, up 29% from the previous quarter, with $14.7 billion in annualized transaction volume based on the trailing 30 days, up 76%. Both are company-defined operating figures. An enrolled institution is not necessarily an active participant in every corridor, and annualizing a recent month is not the same as reporting a completed year’s volume.
One direct arithmetic check shows the scale distinction. Dividing the stated $14.7 billion annualized network figure by 12 produces an implied monthly rate of $1.225 billion, assuming the 30-day pace persisted. Circle reported $14.8 trillion of USDC onchain transfer volume for the entire second quarter. The measurements cover different activity and periods, so their quotient would not be an adoption rate. The smaller commercial network measure is the more relevant starting point for assessing cross-border payment deployment; the far larger chain number includes token movement outside that specific network.
Circle’s second-quarter disclosure provides all three network inputs, as well as $73.3 billion of USDC in circulation at June 30. The number of coins outstanding can rise through exchange balances, trading collateral and other uses without any corresponding increase in final local-currency payouts. A corridor-level breakdown would be needed to test the specific claim that emerging-market payment demand is driving an expansion.
The unreported unit is a completed local payout An original audit of this plan should count transactions at the destination, not simply supported countries or tokens sent. For each named market it would record the originating entity, licensed receiving partner, eligible customer class, currencies, minimum and maximum amounts, quoted and delivered exchange rates, hours of operation, and whether the beneficiary receives USDC or bank money. A second column would distinguish an announced arrangement from one with observed commercial payouts. Circle has disclosed pieces of that map across releases but not a single verified 40-market table.
The distinction matters even when the technology and counterparties are real. If a company pays an overseas contractor through a licensed institution that accepts USDC, the contractor may never open a crypto wallet. The resulting service can be useful without increasing the number of retail USDC users. Conversely, an individual can hold USDC through an exchange in a country with no Circle Payments Network payout partner. Counting both people under the same definition of availability would obscure what the service actually offers.
Circle’s acquisition plan provides a potential way to supply the missing local end. Tazapay brings bank and fintech relationships, existing customer integrations and payout arrangements, according to Circle’s September release. An agreement to acquire those capabilities is an agreement about future corporate control, not a confirmation that Circle has already integrated every account and corridor. Regulatory approvals and the eventual closing date are observable gates.
The company has a second distribution path through exchanges. Binance made a $100 million equity investment and agreed to a five-year commercial arrangement in September. Its stated goal is to promote and integrate USDC across its platform, especially in emerging markets. Exchange access can deepen liquidity for users buying or selling the coin, but the agreement does not identify a corresponding list of licensed local bank payouts. The reported $100 million investment therefore belongs beside the payment plan without being counted as a new payout corridor.
Exchange distribution and payment use carry different evidence The strongest case for Circle’s expansion is that the necessary pieces are already being assembled. Circle issues a widely traded dollar token, reports substantial reserve assets, operates a network with enrolled financial institutions, and has named bank and payment partners. Tazapay says a majority of its current transaction volume involves stablecoins. Binance has a large international user base and a five-year incentive to make USDC more visible. Each fact supports the feasibility of expansion, even before the company names all 40 places.
The opposing case is about classification and timing, not whether those businesses exist. A token available through an exchange is not a locally regulated payment product. A partner’s coverage can exceed the markets where USDC is the actual funding instrument. A planned acquisition can have a different closing date from a planned market entry. A disclosed annualized run rate can change in the following month. Investors and merchants looking for commercial traction need dated payment evidence for the specific routes under discussion.
Binance and Circle’s company announcement describes equity purchased through a private placement and restrictions on share transfers. It does not commit to a public country-by-country minimum in USDC transactions. The financial investment and commercial contract are related but separate instruments; neither confirms that a consumer in one of the 40 proposed markets can redeem directly with Circle.
There are constraints on the issuer side as well. Circle’s October 12 reserve disclosure showed $72.7 billion of USDC outstanding against $73.0 billion of reserves. It reported $8.6 billion issued and $10.1 billion redeemed over the preceding seven days, a net change of negative $1.5 billion. The date is essential because both circulation and redemption totals move. These figures establish the scale of the existing coin and reserve reporting, not the value transferred to the 40 prospective destinations.
The original arithmetic is straightforward: $10.1 billion redeemed minus $8.6 billion issued equals $1.5 billion more redemptions than issuance during the seven-day window. That movement can coexist with plans to enter new countries. It should not be read as a country-specific verdict because the reserve page does not assign issuance or redemption to individual markets, platforms or payment uses.
Licenses determine who can offer which service Different legal permissions attach to issuance, custody, transfer and local payouts. In the European Union, USDC received the European Banking Authority’s first significant e-money token designation. From November 12, the EBA will directly supervise specified matters including own funds, reserves, liquidity and recovery and redemption plans, while the French authority retains duties in areas such as governance and outsourcing. The European classification changes supervisory responsibilities for an existing token. It does not itself authorize Circle to open 40 new countries.
JUST IN: Circle’s $USDC becomes the EU’s first “significant” e-money token under MiCA
Starting Nov. 12, 2026, the European Banking Authority will directly supervise USDC’s reserves, liquidity and redemption plans, following its assessment under the EU’s crypto rules. pic.twitter.com/5tYj6K4Enn
— crypto.news (@cryptodotnews) October 15, 2026 The EBA says 45 e-money tokens had been notified under MiCA when it made the decision. USDC was the first it classified as significant. Circle’s European issuance sits with its French company, whereas the U.S. issuance sits with a different legal entity. A merchant or institution examining redemption rights needs to know which issuer and intermediaries are involved. A token ticker alone is an incomplete map of those obligations.
Circle has argued for changes to European stablecoin reserve rules, saying only three of the world’s 30 largest stablecoins met MiCA requirements at the beginning of October. Its position illustrates that a firm can be authorized in a major market and still dispute the design of the applicable rules. In prior comments on MiCA reserves, Circle called for more flexibility in the assets and deposits used to back tokens. The EBA designation does not decide that policy debate.
The U.S. national trust bank charter is another category. Circle received final approval for a trust bank in July, allowing federally supervised custody and related trust functions. The charter does not transform a USDC balance into an insured bank deposit. The trust bank approval matters to institutional infrastructure and reserve management, while local payment service permissions remain separate questions in each destination.
The revenue case depends on use, rates and counterparties USDC circulation generates reserve income for Circle when the backing assets earn interest, subject to arrangements with distribution partners and costs. The second-quarter company results showed $668 million of reserve income, up 5% from a year earlier, while average USDC circulation rose 25%; Circle attributed the slower income growth partly to a 66-basis-point decline in its reserve return rate. Those numbers show why a larger coin balance does not translate mechanically into the same percentage of revenue growth.
Other revenue was $34 million for the quarter, up 41%, and included subscription and service businesses. Payment infrastructure could grow that category, but the current filing does not assign a forecast of fees to the 40-market ambition. Distribution contracts may create costs as well as demand. Circle reported $412 million in distribution, transaction and other costs for the quarter. A commercial agreement that raises USDC use can benefit a partner and require Circle to share economic returns.
Reserve income is tied to outstanding balances over time. A cross-border payment that uses USDC for minutes can create substantial transfer volume while adding little average token balance. A recipient who keeps the digital dollars for months has a different balance-sheet effect. One needs cohort and holding-time data to translate payment growth into reserve income. The company has not published those figures for the planned markets.
The operational question differs from the token price question. USDC seeks to be worth one dollar; the variable here is who earns fees, which users can redeem, and whether the payout chain offers a practical improvement. Comparing a week of token issuance with an annualized payment run rate would mix stocks, flows and periods. Circle’s financial disclosures can establish the baseline; corridor-level results would establish whether the new strategy is working.
The quarter’s reported $701 million in total revenue and reserve income can be decomposed from the company’s figures into $668 million in reserve income and $34 million in other revenue, with the one-million-dollar difference due to rounded line items. The composition illustrates a business still heavily tied to income earned on reserve assets. It would be unsound to assign all the planned market expansion to the smaller services category, since payments can increase outstanding USDC balances and distribution costs at the same time. Circle has not published market-specific contribution margins for the proposed rollout.
Payment growth could instead produce very different outcomes across corridors. A business treasury moving USDC to another institutional account may retain a token balance for a longer period. A remittance company that acquires USDC and immediately sells it to fund a local bank transfer may leave a smaller end-of-day balance. An exchange listing can generate repeated trading of the same outstanding tokens. None of these outcomes can be reconstructed from gross onchain transfer totals alone. The accounting question for a feature is how much new average circulation and fee revenue survive after local liquidity providers and exchange partners receive their share.
Circle’s quarterly report supplies one other check on scale. It counted 175 institutions enrolled in its payment network, yet did not state that all 175 conducted transactions in the trailing 30 days used for the annualized volume figure. Dividing $14.7 billion by 175 would yield $84 million per enrolled institution per year only under an unsupported assumption that each member originated an equal share. The calculation is mathematically possible but commercially misleading, so the feature cannot use it as a measure of typical partner activity. An active-institution count and a distribution of volume by corridor would be more informative.
What the October announcement still leaves open Allaire’s description did not name the 40 countries or a deadline for reaching them. The September Tazapay release anticipates a 2027 closing, so any assumption that the acquisition supplies immediate October coverage would move a future event into the present. Existing network integrations and exchange availability do establish channels for USDC. They do not provide a public reconciliation of how many proposed markets have functioning local payouts today.
There is a strong argument for following the buildout even before every country is named. The existing network has identifiable partners and reported transaction volume; the token has substantial outstanding circulation; the company is spending equity and commercial resources to enlarge distribution. The proposition can be assessed against subsequent disclosures: named countries, eligible clients, local counterparties, transaction volumes and completed payouts. A press release that only expands a geographic total without those details would leave the original claim difficult to measure.
Currency conversion is one remaining uncertainty for the beneficiary. A successful onchain transfer can deliver USDC to a receiving institution in seconds while a bank payout waits for a domestic batch, a compliance decision or liquidity in the recipient currency. A provider might guarantee its quoted exchange rate for a period or pass through changes before execution; those terms have to be read in the actual service agreement. Circle’s description of its India, Singapore and Philippines corridors names the local rails, but it does not provide a universal consumer rate or service guarantee for every institution using the network.
Eligibility is equally specific. The originator might be a licensed payment service provider rather than an individual sender. A destination bank might accept only business beneficiaries or require identity data that a wallet address alone cannot provide. An exchange user who can buy USDC in a country may still be unable to send a payout through a particular network partner. Circle’s regional demand narrative can coexist with those restrictions. A definitive map would state the customer class and recipient type for each route before attaching a country flag to it.
Nor does a partner’s market count establish uniform dollar access. Tazapay’s network covers more than 100 payout markets, according to Circle, while its local bank integrations and permitted transaction structures vary by destination. If Circle later counts some of those markets toward its new 40, the distinction between acquired reach and newly built reach should appear in the company’s reporting. The September acquisition statement gives a closing target and footprint but no allocation of markets to the October plan. Counting the same country under an exchange listing, a pending purchase and a live payout corridor three times would inflate progress without adding a single recipient.
On September 8, Circle said its Tazapay transaction was expected to close in 2027 following customary conditions and approval from the Monetary Authority of Singapore. The company had not identified the prospective 40 markets in its October 16 interview.
What to watch Country list: A dated Circle disclosure naming the approximately 40 target markets and distinguishing planned from live service. Payout evidence: Named local partners, recipient currencies and completed commercial payments in each newly announced corridor. Acquisition closing: Singapore regulatory approval and completion of the Tazapay purchase, which Circle expects in 2027. Network reporting: Updated enrolled institution and transaction volume figures, with the measurement period and definition preserved. Redemption route: Published eligibility for direct minting and redemption, separately from exchange access and partner payouts. FAQ Which 40 countries is Circle entering? Circle’s October 16 interview described approximately 40 emerging and developing markets but did not publish their names. It identified Southeast Asia, Latin America, Africa and the Middle East as regions of interest. A region is not a list of launched payment corridors.
Does USDC availability mean Circle offers local payouts? No. Circle says USDC is available in more than 185 countries, a different measure from a named banking route that delivers domestic currency. A user may hold or trade the coin without being eligible for direct redemption or a local payout product.
Has Circle completed its Tazapay acquisition? Circle signed an agreement in September to buy Tazapay for $400 million in stock. The company said it expected closing in 2027, subject to conditions and Singapore regulatory approval. Tazapay’s existing operations should not be counted as a completed acquisition.
How many markets does Tazapay cover? Circle’s acquisition announcement said Tazapay had payout rails spanning more than 100 markets and more than 60 banking and fintech partners. Coverage says nothing by itself about each market’s eligible customers or current USDC-funded transaction volume.
How large is Circle Payments Network? At June 30, Circle reported 175 enrolled financial institutions and a $14.7 billion annualized transaction rate based on the trailing 30 days. Enrollment and annualization do not measure an entire year of settled payments in the proposed 40 markets.
How much USDC was outstanding when Circle announced the plan? Circle’s October 12 reserve page showed $72.7 billion in circulation and $73.0 billion in reserves. The balances change with new issuance and redemption. They cannot identify the markets in which the coin was used.
Does Circle’s U.S. bank charter insure USDC holders? No. Circle’s national trust charter permits specified trust and custody functions; it does not turn a USDC holding into an insured deposit. Redemption rights and intermediaries still need to be checked for the relevant issuer and service.
What would demonstrate that the expansion is working? Named operating corridors, local counterparties, eligible client groups and dated completed payout volume would show commercial activity. Those details would let readers separate 40 prospective entries from functioning services. This is educational analysis, not investment advice.
Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 16, 2026.
USDC v první polovině roku 2026 vypořádal on-chain transakce v hodnotě více než 36 bilionů USD a v červnu se na globálním objemu transakcí se stablecoiny podílel zhruba 77 %.
In the first half of 2026, USDC settled more than $36 trillion in onchain transaction volume. Circle minted and redeemed more than $315 billion of USDC, about $1.7 billion every day, including weekends and holidays. Circle also paid $819 million for its USDC distribution partners and transaction costs. By June, USDC carried roughly 77% of all global stablecoin transaction volume, up from 60% a year earlier.
Those are the numbers behind a digital dollar in production: trillions in settlement, billions converted to and from fiat every day, and most of the economics flowing to the partners who build on it.
Yet lately, new entrants have claimed they can build a more “useful” stablecoin. The pitch is familiar: issuers keep too much of the economics, redemptions are expensive, and a new model will fix both.
It is an intriguing pitch. It also misrepresents how USDC works today and drastically underestimates what it takes to make a stablecoin useful.
I lead Circle’s commercial business, where my team negotiates the partnerships that put USDC in the world’s leading wallets, exchanges, banks, fintechs, enterprises, and payment networks. Circle has years of experience executing stablecoin partnerships that help customers worldwide access, use, and earn from USDC through a global network of partners. From that vantage point, I want to put the facts and numbers on the table, so anyone deciding where to build can judge the substance for themselves rather than rely on framing or false headlines.
Three points deserve to be stated plainly up front:
Circle shares the majority of USDC’s economics with the partners that drive its adoption, and has for years.All Circle customers have always been able to redeem for free through standard rails, with settlement in up to two business days. Additionally, all customers who move flows over the Circle Payments Network or build on the Circle Platform can now redeem USDC for free, with near-real-time, 24/7/365 settlement capabilities.USDC is, by far, the most useful stablecoin in the market by the measures that matter to businesses, and the gap is widening because Circle has spent more than 8 years building and investing in the infrastructure behind it.
Let’s dive in.
How USDC's revenue is distributedIn the first half of 2026, Circle generated approximately $1.4 billion in revenue and paid approximately $819 million of it to USDC distribution partners and transaction costs. Approximately 59 cents of every dollar of revenue went to the global partners that make USDC available across wallets, exchanges, banks, fintechs, enterprises, and payment networks worldwide.
We reinvested the vast majority of what remained in the network. Circle spent about $473 million, roughly 34 cents of every dollar, on the licenses, banking relationships, settlement liquidity, compliance programs, new product investments, and blockchain integrations that make USDC the world’s most useful, compliant, and licensed stablecoin. Circle made 7 cents of net profit from every dollar of revenue earned.
That reinvestment is not overhead. It is what makes USDC useful, and it reflects more than 8 years of building. A digital dollar has to work everywhere: redeemable at any hour, held by regulated institutions, and moving natively across the chains and platforms where businesses operate. That means licenses across the world’s major jurisdictions, so a bank in Europe, a fintech in Latin America, and a payment network in the United States can use the same dollar under their own rules. It means native deployments on dozens of blockchains and the interoperability to move between them. And it means the liquidity and banking relationships to honor billions in mints and redemptions every day, in every major financial market center around the world. Without that foundation, a stablecoin is not a digital dollar; it is a token. This is what new issuers leave out when they promise to share the “substantial majority” of their economics: a stablecoin that distributes everything but funds nothing. The costs of redemption, compliance, and resilience don’t disappear just because the issuer declined to pay them. Every dollar Circle reinvests widens that gap.
So the real question is not whether reserve income should flow to the businesses building on a stablecoin. USDC’s financials settle that. The question is how much can be shared while continuing to fund the infrastructure that makes the stablecoin useful in the first place. The rest of this piece answers it: how partners participate, how redemption works, and what that infrastructure actually costs.
How partners participate in USDC economicsDistribution economics follow adoption: the partners that bring the most USDC to market earn the most. Coinbase, our largest and longest-standing partner, is the clearest example. In its second-quarter results, Coinbase reported that average USDC held in its products reached an all-time high of $20 billion, up 44% year over year.
But Coinbase is one partner in a much larger network. In September, Binance, the world’s largest exchange, signed a five-year commercial agreement and invested $100 million in Circle. More than 150 other partners have an economic interest in USDC’s growth, spanning the financial system and the businesses that run on it: exchanges, wallets, neobanks, fintechs, payment platforms, banks, and enterprises. That broad base of participation is why USDC carried roughly 77% of global stablecoin transaction volume in June, up from 60% a year earlier.
The model itself is simple. Partners participate in USDC’s economics in two ways.
Bring and grow balances, then earn on them. Distribution partners that hold and grow USDC balances on their platforms earn a share of the reserve income generated by those balances. The more USDC a partner drives, the greater the share.Build on the platform and redeem for free. Customers who move payment flows over the Circle Payments Network or build on the Circle Platform through Arc, Circle Mint, or Circle Wallets can redeem for free in near real time. The next section covers exactly how that works.
The facts on redemptionRedemption has drawn the most confusion, so I want to be exact. The world’s largest payment networks, including Visa and Mastercard, settle in USDC seven days a week, including when the banking system is closed. Payment companies around the world rely on Circle’s infrastructure to convert USDC to dollars because it works at scale every day of the year.
In the first quarter of 2026 alone, Circle redeemed $71.8 billion in USDC, roughly 90% of the total supply in circulation at the time. In the second quarter, combined minting and redemption volume reached $170 billion, up 105% year over year. No other stablecoin issuer processes fiat redemptions at a comparable scale.
Circle’s redemption terms rest on three principles:
Every Circle customer can redeem USDC for free. Redemptions through standard banking rails typically settle in up to two business days.Payment flows on Circle Payments Network (CPN) can now settle in near real time, for free. Businesses that use USDC as a payment rail on CPN, including card networks, processors, remittance providers, enterprise, and fintechs that settle real volume, can now redeem in near real time at no cost. Payments companies globally are invited to join CPN, where this capability is built in.Circle Platform customers can now qualify for free near-real-time redemption in several ways. This includes holding USDC balances on the Circle Platform and building with Circle through CPN, Arc, Circle Mint, Circle Wallets, and other eligible products. Qualified customers redeem for free in near real time.What makes that settlement speed possible is liquidity. To process redemptions in near real time rather than over days, at any hour and at any size, Circle holds a substantial pool of cash at its global network of bank partners, pre-positioned and ready to leave the moment a redemption is confirmed onchain. That cash has to stay liquid, so it earns less than it would in Treasuries. And it has to be available at every hour, including when the banking system is closed, which means maintaining the bank relationships and settlement rails that can move it on demand. We carry that cost so customers don’t have to wait. This liquidity is the most important and most expensive part of the redemption model, and we do not charge for it when a customer participates in the network.
Building a globally trusted digital dollarAnyone comparing stablecoin models should look past the headline economics and ask a harder set of questions: can the issuer honor redemptions at any hour, operate through stress, maintain compliance across jurisdictions, and keep investing over time? Regulators ask the same questions. A stablecoin is not a software product. It is monetary infrastructure, and it has to be financially sound.
Circle has lived this tradeoff firsthand. USDC launched in 2018 as a consortium project. In 2023, Circle took full governance and rebuilt the model around a simple principle: the issuer must have the capacity to invest in the network. That decision accelerated everything that followed, and more than 8 years of investment sit behind every dollar of USDC.
Those investments include more than 55 licenses and registrations, including an OCC national trust bank charter and compliance with MiCA; relationships with more than 25 partner banks, including systemically important institutions; reserves in a government money market fund managed by BlackRock and custodied at BNY, with monthly attestations; global compliance and sanctions programs across 185 countries; native deployments on over 35 blockchains; and the liquidity to honor roughly $1.7 billion in daily mints and redemptions.
That is what utility looks like at scale. USDC is used for settlement by major payment networks, held as a reserve asset by a growing number of banks, and used by developers as the default dollar for onchain applications. The industry depends on it: more than 70% of the companies on recent consortium launch rosters already build on USDC. They are all partners we value, and we expect to keep building with them.
In summaryUSDC’s model is built as a flywheel, so the entire ecosystem wins. The majority of its economics goes to the partners that drive adoption, every customer can redeem for free, and what Circle retains goes back into the infrastructure that makes USDC the most useful stablecoin in the world. Each turn reinforces the next. Partners grow USDC because they share in its economics. That growth funds more licenses, liquidity, and chains. A more useful digital dollar then draws in the developers, businesses, and users who become the next wave of adoption. That model has held through every market cycle since USDC launched more than 8 years ago, and we will keep investing to make it stronger for the next one.
Circle has built the industry’s broadest and most deeply integrated stablecoin ecosystem across distribution, payments, banking, trading, and blockchain infrastructure. If you are deciding where to build, we are ready to build with you.
USDC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
Circle Technology Services, LLC (CTS) is the operator of Circle Payments Network (CPN) and offers products and services to financial institutions that participate in CPN to facilitate their CPN access and integration. CPN connects participating financial institutions around the world, with CTS serving as the technology service provider to participating financial institutions. While CTS does not hold funds or manage accounts on behalf of customers, we enable the global ecosystem of participating financial institutions to connect directly with each other, communicate securely, and settle directly with each other. CTS is not a party to transactions between participating financial institutions facilitated by CPN who use CPN to execute transactions at their own risk. Use of CPN is subject to the CPN Rules and the CPN Participation Agreement between CTS and a participating financial institution.
Arc is an open L1 blockchain launched by Arc Network Services LLC ("Arc LLC") and operated by a permissioned validator set. Arc LLC provides software services only and does not offer regulated financial or advisory services. Arc has not been reviewed or approved by the New York State Department of Financial Services or any other regulatory authority.
The Arc network is provided "as is" and "as available." Use of Arc involves inherent risks associated with blockchain technology, including smart contract vulnerabilities, network disruptions, and the absence of recourse for transaction errors or losses. The ability to transact on Arc depends on the ability to obtain and use USDC to pay gas fees. Neither Arc LLC nor any permissioned validator is responsible for the content, accuracy, legality, or functionality of third-party applications, protocols, or services built on or integrated with Arc. You are solely responsible for features or services you provide to users, including obtaining any necessary licenses or approvals and otherwise complying with applicable laws.
All Arc features may be modified, delayed, or cancelled at any time without notice. Nothing herein constitutes a commitment, warranty, guarantee or legal, regulatory, tax, or investment advice.
Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. See Circle’s licenses here. Circle Mint is currently available only to institutions and is not available to individuals.
Circle Wallets are provided by Circle Technology Services, LLC (“CTS”). CTS is a software provider and does not provide regulated financial or advisory services. You are solely responsible for services you provide to users, including obtaining any necessary licenses or approvals and otherwise complying with applicable laws. For additional details, refer to the Circle Developer Terms of Service.
The term “partner” refers to companies with which Circle has commercial agreements to grow the adoption and use of USDC, and does not necessarily refer to a legal partnership, joint venture, or fiduciary relationship.
Circle v první polovině roku 2026 vykázala tržby ve výši přibližně 1,4 mld. USD; 819 mil. USD z této částky připadlo na platby partnerům USDC a transakční náklady.
Circle Internet Group (CRCL) reported approximately $1.4 billion in revenue in the first half of 2026, paying $819 million to USDC distribution partners and transaction costs while reinvesting about $473 million in infrastructure, compliance, and product development.
The company outlined those economics in a blog post Friday, pushing back against new stablecoin entrants that argue existing issuers retain too much revenue, charge too much for redemptions, and could be replaced by more efficient models.
"That reinvestment is not overhead," wrote Circle COO Kash Razzaghi. "It is what makes USDC useful, and it reflects more than 8 years of building. A digital dollar has to work everywhere: redeemable at any hour, held by regulated institutions, and moving natively across the chains and platforms where businesses operate."
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Circle said it retained roughly 7 cents in net profit for every dollar of revenue. USDC processed more than $36 trillion in onchain transaction volume and accounted for about 77% of global stablecoin transaction volume in June, up from 60% a year earlier.
Stablecoin monthly transfer value has averaged nearly $10 trillion this year, according to Standard Chartered Bank, which published a report earlier this week.
In an investor note last month, William Blair analysts said Circle could benefit from a broader crypto recovery, with regulatory rulemaking, growing tokenized-asset activity and diversification supporting the stock into 2027.
Circle will report its third-quarter financial results on Nov. 4.
Tesla-linked perpetual futures have retreated to around $357 on Hyperliquid, reversing an overnight climb toward $380 following Elon Musk’s demonstration of a thruster-equipped Roadster.
Summary
Hyperliquid’s Tesla contract reversed its climb toward $380 and traded down 0.95% over 24 hours.
Binance led daily Tesla-linked trading with $564.49 million in turnover, according to RootData.
Hyperliquid held approximately $80 million in open interest, ahead of Binance’s $64.96 million.
Tesla will release third-quarter financial results after market close on Oct. 21.
Hyperliquid showed its TSLA-USDC contract at a mark price of $356.66, down $3.42 over 24 hours, with approximately $247.8 million in daily trading volume and $80.05 million in open interest, the value of outstanding contracts.
Tesla futures give back their climb toward $380
On Hyperliquid’s 1-hour chart, the Tesla contract rose from around $360 to $380 on Oct. 16 before retreating to approximately $357. The reversal carried the price below the level where the overnight advance began.
The same chart showed the contract trading near $385 earlier in the week before declining toward $360 ahead of Thursday’s Roadster presentation. Friday’s rebound approached $380 but stopped below those earlier highs, according to the displayed price history.
Across the exchanges listed in RootData’s stock-contract comparison, Tesla-linked markets showed negative 24-hour returns. Binance’s TSLAUSDT contract traded at $357.26, down 0.85%, while the displayed declines ranged from 0.84% on OKX to 1.30% on Lighter.
Binance leads turnover as Hyperliquid holds more open positions
RootData listed $564.49 million in daily Tesla-linked trading on Binance, compared with $246.64 million on Hyperliquid. Bitget and OKX followed with $78.35 million and $68.46 million, respectively.
The same table showed $45.95 million in turnover on Bybit and $23.37 million on Lighter.
RootData placed Hyperliquid first with $80.12 million in open interest, ahead of Binance’s $64.96 million, Bitget’s $18.04 million and OKX’s $14.87 million.
RootData listed liquidity within 2% of the quoted price at $6.73 million on Hyperliquid and $4.52 million on Binance. Binance nevertheless showed the narrower quoted spread at 0.0028%, compared with Hyperliquid’s 0.0084%.
Hyperliquid identifies TSLA-USDC as a perpetual market independently deployed by xyz. Trade.xyz’s specification index states that the contract references one Tesla common share quoted in US dollars and permits leverage of up to 20 times.
According to the operator’s specifications, the market uses cross-margin treatment. Hyperliquid’s trading interface warns users about low liquidity, high volatility, and elevated liquidation risk in the independently deployed contract.
The instrument provides price exposure without transferring Tesla stock ownership. A separate Anthropic-linked perpetual contract examined by crypto.news on Oct. 15 similarly granted no shares, company earnings claims or right to redeem positions for equity.
Trade.xyz’s stock-linked markets previously encountered a pricing disruption in July, when the operator agreed to cover eligible liquidation losses involving its SK Hynix contract.
In a statement described in the July 29 coverage, Trade.xyz said multiple independent data providers relayed an executed external-market trade. The contract’s mark price fell 18.7%, from $1,127.90 to $917.25, triggering liquidations of leveraged long positions.
The operator characterized reimbursement as a one-time discretionary decision and said it would review how external venue prices entered its pricing system, according to the same account.
Musk’s Roadster demonstration carries a 2028 production target
At SpaceX’s McGregor test facility in Texas on Oct. 15, Musk presented the redesigned Roadster using technology developed by Tesla and SpaceX engineers, Reuters reported.
AP described cold-gas thrusters and a suction system that enabled short aerial movements and midair spins. Musk named 2028 as the production target, while Tesla had not immediately announced a price, according to the agency.
Tesla’s website labels the rocket feature “Not approved for public road use,” AP reported.
Reuters traced the second-generation Roadster to a prototype unveiled in 2017, when Tesla promised deliveries in 2020. The production target announced on Thursday falls eight years after that original delivery schedule.
During the presentation, Tesla vehicle engineering chief Lars Moravy claimed acceleration from zero to 60 mph in less than one second and a top speed above 230 mph, Reuters reported. The company claimed a driving range exceeding 300 miles.
Tesla earnings follow deliveries of 486,532 vehicles
Tesla’s Oct. 2 operating release reported third-quarter deliveries of 486,532 vehicles against production of 464,391. Model 3 and Model Y accounted for 478,237 deliveries, with 8,295 vehicles listed under other models.
Calculated from Tesla’s figures, deliveries exceeded production by 22,141 vehicles during the quarter. Model 3 and Model Y represented approximately 98.3% of total deliveries.
Tesla reported energy-storage deployments of 13.7 gigawatt-hours over the same period. Its release cautioned that deliveries and storage deployments were only two measures of financial performance, with results dependent on selling prices, costs, foreign-exchange movements and other factors.
The company scheduled its financial results for after market close on Wednesday, Oct. 21, followed by management’s question-and-answer webcast at 5:30 p.m. Eastern Time. Tesla said net income and cash-flow figures would accompany the earnings release.
During the previous quarter, Tesla kept its Bitcoin reserve unchanged at 11,509 BTC, according to July 22 coverage of its shareholder update. The company recorded a $112 million after-tax digital-asset loss without buying or selling Bitcoin during the reporting period.
THORChain v3.21 je v závěrečné fázi testování; přinese změny v THORNode potřebné pro integraci Monero ($XMR), zatímco další opravy Bifrost mohou přijít ve verzi v3.21.1.
THORSday Community Podcast #243 ft. CBarraford, KentonC137 & Patriotsounds | October 15, 2026 | Watch the full episode on YouTube
By Raynalytics
TL;DROne week into the SwapKit Rev-Share trial, Chad said about $430 of discounts lined up with almost $2,000 of protocol revenue, a 4.6x return, while stressing that the sample is small and may not scale.v3.21 was on release candidate 6 with final stagenet checks running. $XMR changes for THORNode ride in v3.21, and any remaining Bifrost patches could follow quickly in v3.21.1.Tether briefly froze THORChain's Tron $USDT vault address before reversing it, prompting a debate over whether protocol-owned liquidity should favor permissionless assets.The devs are weighing whether Huginn, which has already added about 1,300 unit tests and new testing frameworks, should count as one of the two approvals a code change needs.Dynamic fees will move from daily to volume-based measurement windows, THORNode code now runs about 3x faster, and 2-second blocks and a FROST rollout are back on the table.https://raynalytics.net/dashboards/rev-share1. SwapKit Rev-Share's First Week: Early Data Looks PromisingRev-Share has been live with SwapKit for about a week, and Chad screen-shared Ray's SwapKit Revenue Share dashboard to walk through the first results. THORChain kicks back 20% of the revenue it earns from SwapKit-routed swaps into a credit bucket. SwapKit then spends that bucket to discount future quotes and win trades it might otherwise lose. As the hosts clarified, SwapKit does not keep the money: the intent is to spend all of it on better quotes, and SwapKit earns from the extra volume it routes.
So far SwapKit has spent only about $430 of the just under $3,000 accrued. Over the same period, swaps carrying those discounts generated almost $2,000 for the protocol, a 4.6x ratio that had been 3.7x the day before. The discounted swaps totalled slightly over $1 million in volume across 302 swaps, and the dashboard's volume view showed roughly double the baseline over 8 days. Chad assumed that volume was trade SwapKit would not have won otherwise, but said he does not know that for sure. SwapKit is also scaling up slowly while it waits for v3.21 to fix a few THORName issues.
"For every $1 we give SwapKit and they spend that to discount quotes, we get back $4.60 effectively." (Chad)The number Chad is watching is 5x. The protocol already earns more than it gives back below that line; 5x is where SwapKit's bucket becomes self-funding. Because SwapKit receives 20% of the extra revenue, any return above 5x refills the bucket faster than SwapKit can spend it, a flywheel where the discounts fund themselves. If the ratio stalls near 4.6x, Chad agreed that raising the share to 25% would move that point down to 4x. If it climbed toward 10x, the share could instead fall to 10% or 15%. His caution was just as clear: the bucket has so far been applied selectively, and returns could shrink as spending scales into the thousands.
The bigger question is reach. SwapKit is integrated with wallets such as Trust Wallet and Ledger, where it competes with other providers, and THORChain currently wins only a single-digit percentage of SwapKit's trades. The agreement is exclusive in both directions for this feature, so THORChain cannot run the same program with another aggregator, and SwapKit cannot run it with Chainflip or NEAR Intents. Dividing volume by swap count, the hosts put the average discounted swap at about $3,400, the larger trade sizes where THORChain tends to quote well. This builds on the launch covered in last week's recap.
2. v3.21 Is Nearly Cut, With Monero Close BehindChad said every pull request for v3.21 had been merged and the release was on release candidate 6, with final stagenet tests underway. During the show, the hosts relayed a team update that the core stagenet tests had passed and the last chain checks were finishing. Chad expected the release to be cut that day or the next, followed by node voting to adopt it. The release had been held back a few days so it could carry as many Monero changes as possible.
Chad said the THORNode changes needed for $XMR are expected in v3.21, while some Bifrost-specific patches may land in v3.21.1. That split matters because a patch release can be cut at any time, while a full release takes far more testing and coordination. Much of the $XMR work has been handled by Zly Dev and the team. Getting Monero live on mainnet is one of Chad's primary short-term goals.
"You better believe we want the same damn thing you do." (Chad)Chad also hopes to remove the churn as a requirement for adding most new chains in v3.22 or v3.23. For chains using key types THORChain already supports, vaults only need to derive and publish new addresses from existing public keys; chains needing new cryptography, like Monero, would still require more. Progress is tracked on devops.thorchain.org.
https://raynalytics.net/dashboards/pol-income3. Tether Froze the Tron $USDT Vault, Then Reversed ItTether recently froze the address THORChain uses for its Tron $USDT pool. Chad suspects the freeze happened partly because THORChain's external addresses look like ordinary wallets rather than smart contracts. He first saw it when Devel posted in the THORChain mainnet channel, and it took three to four hours to reach the team. With help from Randy, he spoke with Tether's CEO, who was apologetic and had it fixed quickly.
The episode put the exposure in context. The pool held about $200,000, while the freeze covered about $1.45 million, which Chad assumed was largely $USDT arriving from the malicious party that triggered it rather than LP or protocol funds. In a worst case, only the stablecoin side, about $100,000, would be lost. The $RUNE side could be redeployed through the protocol-owned liquidity (POL) module into other pools. Kenton added that THORChain Swap already stops trading when a pool is paused, but this pool was not paused, so the team is adding monitoring of the Tether and Circle blacklists to block affected swaps automatically.
Denny used the incident to revisit a post he made in the dev Discord. POL currently goes to the pools with the best depth-to-revenue performance. He floated always sending some flow to the best-performing permissionless asset, or letting nodes redirect it. Kenton disagreed: $BTC to $USDT is the largest trading pair in the world, and stablecoin pools need to keep growing for THORChain to pull volume off centralized exchanges. Denny granted that his proposal trades economic efficiency for protection against an event that may never happen, and that $XMR would likely win POL flow for a long time anyway.
"I'm willing to sacrifice some efficiency to make sure THORChain is as robust as possible." (Denny)Chad argued a deliberate freeze would be self-defeating for any issuer: every DeFi protocol would have to reconsider the asset, LPs would pull out, and the issuer could face legal claims from LPs whose funds it froze. The POL routing question was left open. For background on POL, see the recap covering its launch.
4. Dynamic Fees Will Measure by Volume, Not by DayChad has been reviewing the dynamic fee model and said it is not as effective as he would like. The first version was deliberately kept as a plain minimum viable product, so real-world data could show what works before the design was refined. The problem that data revealed is sample size: on many affiliate pairs there is not enough volume to tell whether a fee change in bps actually caused more or less volume.
The fix Chad wants is to change the epoch, the window the model studies. Today it compares fees and volume day against day, and a day with only 10 trades says little. Instead, the epoch would close once a set amount of volume has passed through, with $100,000 or $1 million used only as illustrative figures. Quiet pairs would collect data over a longer period, while a busy pair like $BTC might need only an hour. The aim is more signal and less noise.
That change is one of several Chad wants in v3.22. In the meantime, the team may leave the current model running for roughly another two weeks to keep studying how it moves. Earlier results are covered in the dynamic fees recap.
5. Should Huginn Count as a Code Approval?The devs are debating whether Huginn should be able to approve pull requests. Merging a THORNode change currently requires two human approvals. Huginn reviews every pull request and every later commit and is, by Chad's count, the top commenter, but its approval does not count toward a merge. The proposal is to require Huginn plus one human. Chad said no one on the team is arguing to remove humans, devs hold valid views on both sides, and he wants the security team's input before anything is decided.
Chad's case is speed. He said AI has lifted coding efficiency by only about 1.3x to 1.4x, because the slowest part of the life cycle, the human steps, has not sped up. He added that humans and AI both make mistakes, so the real question is which is more likely to, and how severe the mistake would be.
"The thing that is super slow is always me. It is always the human." (Chad)Huginn's role is already growing. Beyond reviews, it runs continuous security audits, fixes issues it finds under human oversight, and has added about 1,300 unit tests (roughly 70,000 lines of code), along with new fuzz, mutation and accounting testing frameworks. Chad would let it run self-directed improvement loops only on tests and on performance work that can be verified by replaying thousands of mainnet blocks and checking that every block's app hash is identical. He would not trust it with open-ended feature work at this stage. The approach was first outlined in last week's recap.
6. A 3x Faster THORNode Brings 2-Second Blocks Back Into ViewChad said THORNode's code is now about three times faster after AI-driven optimization work, merged the day before and expected in v3.21. A large part of that came from pprof profiles supplied by Liquify, which Chad described as an X-ray of a live daemon showing where code spends its time and memory. He still needs a Bifrost profile from an active validator, and the hosts relayed that Devel aimed to provide one the next day. Any operator can help by enabling pprof through an environment variable, and Chad said the profiles contain no private keys. A faster Bifrost should lower the CPU and memory validators need.
The speedup will not shorten block times on its own, but Chad expects it to make them more stable after recent instability. It also gives him more confidence to revisit a year-old pull request that moved THORChain from 6-second to 2-second blocks. He pulled back then because many mimir settings run every set number of blocks and mainnet's reaction was hard to predict, but modern AI tools could help verify the change before it ships. Faster blocks could let arbitrageurs track prices more closely, and Chad expects Rujira, which is working toward perps, would welcome them. The hosts added that shorter blocks might eventually make room to raise the 120-node limit.
Chad also flagged an upcoming Cosmos SDK upgrade that will move THORChain to v4.0, and asked the community not to read the version jump as a major feature release. He would not leave the Cosmos SDK unless forced, and said THORChain could take over maintenance if the Cosmos Labs team ever stepped away.
7. FROST Will Roll Out One Vault at a TimeChad said work on a FROST implementation has started, and he expects it to be finished next week or the week after, followed by integration into Bifrost. The plan is to move away from GG20 toward newer cryptography with a smaller attack surface, building on the work covered in the v3.20 recap.
The rollout would start small: one smaller chain, on one of THORChain's six vaults. If that vault hits a signing bug, outbound transactions would be reassigned to a working GG20 vault, slowing mainnet a little without breaking anything. As confidence grows, more vaults would move over each churn, then more chains. Initially FROST would replace GG20, but Chad said GG20 could return as half of a 2-of-2 multisig, so breaking THORChain's cryptography would require breaking both schemes at once.
DKLS is still planned, just second. FROST comes first because $BTC can use it through Taproot, and $BTC makes up a larger share of TVL. Some chains, such as Bitcoin Cash, lack Taproot and cannot use FROST. Chad ranked FROST, then DKLS, then GG20 by how unlikely each is to have an implementation flaw. Separately, Soda Labs completed a full audit of THORChain's code, done largely by hand, and the team is patching what it found. Chad said none of the issues were serious.
8. A Proposed Public Test of Quotes Versus FillsThe hosts said they keep hearing from wallets that some swap services give attractive quotes but poor fills. Kenton floated publishing an objective report rather than calling anyone out, and Chad suggested how to run it: use marketing funds for real swaps, have Ray run them across providers, and publish the quotes, outputs and transaction hashes so anyone can verify them on-chain. Kenton offered to pay to distribute the results. He also gave Ray a shout-out, saying Ray has never said no to anything he asked.
The design discussion was specific: 30 to 50 swaps per size for a statistically meaningful sample, at sizes from about $500 to $50,000, across 10 to 12 providers including THORChain and Maya Protocol. Kenton plans to start the provider list from the routes Ledger Live displays. Concurrent swaps would use separate pools so they do not affect each other, and the group discussed open-sourcing the tooling so anyone can rerun the test. Chad also said aggregators could one day adjust quotes for providers that consistently overquote.
"We have the moral authority to do that." (Chad)Kenton's other priority is wallet coverage on THORChain Swap. After a week of bug fixes, the next targets are Trezor, Rabby and Brave Wallet, one of the more popular Zcash wallets. Trezor is the priority so it is ready before Monero goes live. New wallets will be left to settle before more are added, but Kenton believes broader wallet support could matter more than new features.
What to WatchWhether the SwapKit Rev-Share return reaches 5x, where the credit bucket refills itself, as SwapKit scales spending after v3.21 adoption, and whether the 20% share changes.The v3.21 cut and node vote, and whether $XMR follows quickly in v3.21.1.v3.22 changes to dynamic fees, plus churn-free chain additions in v3.22 or v3.23.Whether the Huginn approval change is adopted after security-team input.The Bifrost pprof profile, a revived 2-second block pull request, and the Cosmos SDK upgrade to v4.0.The first FROST vault on mainnet, and the Soda Labs audit patches.Kenton's quarterly report, expected next week, and whether the quote-versus-fill test goes ahead.Schedule changes: no podcast on Saturday, October 17, Zodl on Friday, October 23, and Moca on Saturday, October 31, when the Saturday show moves an hour later.More THORChain data, check out raynalytics.net
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Filecoin za posledních 24 hodin posílil o 14 %; otevřený zájem na derivátových trzích vzrostl o 17,5 % na 275 milionů USD, což doprovázela rostoucí aktivita velkých investorů.
Filecoin [FIL] climbed 14% in the past day as of writing, with bullish momentum pushing the asset higher on the chart. One of the clearest indicators comes from whales, a group of investors who hold significant capital in the market and can influence price.
Whale involvement in the market rose significantly in the past day, with the Whale Retail Ratio, which tracks whether whales or retail traders are active in the market, rising to around 0.329 on the chart.
Source: CoinGlass When the delta surges and remains strongly positive, as is currently the case, it implies that the asset is likely to continue in its present direction.
CoinGlass data shows that whale positioning on Binance and Bybit has helped the rally. The Long/Short Ratio, which tracks the balance between long and short positions, confirms that buying pressure in the market is significantly higher than selling pressure.
Perpetual metrics support further gains In the FIL perpetual futures market, the Funding Rate has risen from -0.0019% to 0.0102% at the time of writing. A positive Funding Rate implies that long positions dominate the market.
Source: CoinGlass With more long positions in the market, sentiment remains bullish, and the asset is trading in the direction of the bulls.
Capital in the perpetual futures market has continued to expand during this period as the Funding Rate strengthens the bullish outlook. CoinGlass data shows that Open Interest rose by around 17.5%, reaching $275 million at the time of this analysis.
On-chain activity picks up On-chain activity, measured by trading volume across decentralized exchanges (DEXs) for FIL, has also increased.
Filecoin’s on-chain volume surged from $71,167 on the 4th of October, its lowest level of the month, to around $757,092 at press time, according to DeFiLlama data.
A surge of this scale points to increased market activity and adds to the overall price performance, with the potential for further price movements in the near term.
Source: DeFiLlama Another Filecoin on-chain metric also points to momentum that could fuel the asset’s push in the near term, with Total Value Locked (TVL) reaching $3.2 million over the past day.
The asset remains bullish for now, adding to its overall performance and the possibility that the price will remain bullish in the long term.
Final Summary Filecoin climbed 14% in 24 hours as whale activity and buying pressure increased on Binance and Bybit. Open Interest rose 17.5% to $275 million, while the Funding Rate turned positive and DEX volume climbed to $757,000.
Hyundai Card během pilotního projektu převedla mezi americkou a mexickou dceřinou společností 20 000 USD v USDT prostřednictvím Avalanche přibližně za sedm minut, tedy o více než 96 % rychleji než bankovním převodem.
Moving $20,000 between two subsidiaries of the same company should be quick. With a traditional bank wire, it usually eats most of an afternoon.
Hyundai Card, the financial services arm of the Hyundai Motor Group, recently tried a different route. Using Axiym Finance’s infrastructure on the Avalanche blockchain, it cut the transfer time for an intercompany payment by more than 96%.
The pilot ran on July 9, 2026. It moved $20,000 in USDT, Tether’s dollar-pegged stablecoin, from Hyundai’s US subsidiary to its Mexican subsidiary. The whole process took roughly seven minutes.
A comparable bank wire typically needs three to four hours.
Seven minutes versus a few hours Axiym converted dollars into USDT, sent the stablecoin across Avalanche, and handled the move back out of crypto on the other end.
The settlement ran on Avalanche’s C-Chain, where Axiym set up the liquidity and settlement framework for the transfer. The pilot included four parties: Hyundai Card, Tether, Avalanche, and Axiym.
The research findings describe it as the first public use of a production-ready stablecoin treasury settlement by a major South Korean conglomerate on Avalanche.
A recent Avalanche update pointed to the result directly. It credited Axiym’s tools with saving Hyundai more than 96% of the usual transfer time.
Who is Axiym, and why the plumbing matters Axiym describes its business as liquidity-as-a-service. Companies that send money across borders often keep funds parked in accounts in each country so payments can settle. That money sits idle instead of working.
Axiym says its model cuts that capital lockup by 70–90%.
The Hyundai pilot also fits a wider growth pattern at Axiym. The platform reported cumulative stablecoin payment volume above $2 billion as of October 2026, a 4.4 times increase year over year.
Its third quarter of 2026 set a record, with $529 million in payment volume.
Background: stablecoins move into the treasury office Intercompany payments are a natural testing ground for stablecoins. Both sides belong to the same corporate family, so counterparty risk is minimal and the stakes of a hiccup stay contained.
Tether’s participation means the stablecoin issuer was involved directly, not merely acting as a background asset.
What this means for corporate treasuries and the stablecoin market The clearest takeaway is for multinational finance teams. If a seven-minute settlement is possible for a $20,000 internal transfer, the obvious next question is what happens at larger sizes and across more currency corridors.
The 70–90% reduction in capital lockup that Axiym claims could be the bigger draw for chief financial officers, because idle cash carries a cost even when nobody sees a fee line.
Moving treasury flows onto stablecoins introduces exposure to the issuer, to the blockchain’s reliability, and to regulators in every jurisdiction the money touches. The pilot does not resolve those questions. It shows that, for at least one cross-border corridor, the technology performed as advertised.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Společnost Circle za posledních 24 hodin údajně vydala na blockchainu Solana přibližně 750 milionů tokenů USDC, což by mohlo zvýšit dolarovou likviditu sítě.
Circle has reportedly minted approximately 750 million USDC on the Solana blockchain over the past day, according to social media reports. This development suggests increased dollar-pegged liquidity on the Solana network, although it is unclear if this represents net growth or merely supports cross-chain transfers or replaces redemptions. As of October 12, Circle had $72.7 billion of USDC in circulation across 38 blockchains. The significant minting on Solana highlights the network’s role in hosting substantial flows of USDC.
Key Takeaways
Significant USDC minting on Solana appears to suggest increased dollar liquidity on the network.
Markets may interpret this as supportive of Solana’s potential price increases, consistent with increased liquidity and demand.
Solana’s price prediction markets reflect a range of outcomes, with notable activity around short-term price changes.
What to Watch
Observers will be monitoring how this influx of USDC affects Solana’s price and whether it leads to increased decentralized finance (DeFi) activity on the platform. Market participants will likely focus on any indications of regulatory developments or technological upgrades that could influence Solana’s standing. Additionally, watch for Solana’s performance against other cryptocurrencies amid broader market trends that could affect the network’s growth and utility.
Solana klesla k 104 USD a testuje klíčovou podporu v pásmu 99–101 USD; americké ETF na Solanu zaznamenaly devět po sobě jdoucích obchodních seancí odlivů.
Solana price has retreated toward $104, putting $100 support back under pressure even as its weekly chart leaves room for the broader recovery to survive.
Summary
SOL’s daily chart showed $104.47 after an intraday decline to $103.91.
The weekly 50-period average near $98.99 sits just beneath the recent $100.62 low.
Daily Aroon and Awesome Oscillator readings favored continued downside pressure.
U.S. Solana ETFs recorded nine consecutive withdrawal sessions ahead of the scheduled Alpenglow upgrade.
Solana is back near the area where its September recovery began to gather strength. After advancing from its summer base toward $124, the token has surrendered much of that breakout, leaving buyers defending a narrower cushion above $100.
Solana’s daily chart shows SOL was trading at $104.47, down 0.92% for the session after reaching $107.44. Its inability to hold that intraday advance brings the previous day’s $100.62 low back into focus.
Yet the daily and weekly charts tell different parts of the story. Short-term momentum continues to weaken, while the weekly price remains above two moving averages that could help determine whether the pullback becomes a deeper reversal.
Solana’s weekly recovery rests on the $99 area
The weekly chart placed the 50-week simple moving average at $98.99, just below the psychological $100 threshold. The 20-week average sat farther down at $89.56.
Solana price weekly chart — Oct. 16 | Source: TradingView
This makes the area around $99–$101 a more consequential test than the round number alone. It brings the recent low and the 50-week average close together, giving buyers a defined region to defend after the retreat from $124.
SOL remained above both shorter weekly averages, but below its 200-week average at $112.43. The September rally had carried price above that longer-term reference before the latest decline pushed it back underneath.
A recovery through roughly $112–$113 would therefore repair part of the weekly damage. Until then, the move back below the 200-week average leaves the rebound facing resistance before it can challenge the recent peak.
Weekly momentum has also cooled. Stochastic RSI showed its faster line at 75.77, below the slower line at 88.60 after turning down from elevated readings. The summer recovery has lost momentum as price returns toward support.
A separate Oct. 16 assessment from the account publishing as Daan Crypto Trades described SOL as holding above major support, with the daily 200-period exponential moving average approaching beneath it. The account treated a loss of that area as an invalidation of its recovery setup.
$SOL Slow and steady. It has been pretty resilient relative to $BTC & $ETH the past few days.
Still sitting right above the major support level with the Daily 200EMA coming in below. So that's a clear invalidation below.
Solana Breakpoint is a month from now which usually sees… pic.twitter.com/Gizckx6ilx
— Daan Crypto Trades (@DaanCrypto) October 16, 2026
Daily selling pressure challenges the longer-term bullish case
The daily indicators give buyers little room for another failed bounce. Aroon Down stood at 92.86%, while Aroon Up was at zero. That wide separation favors the recent downward trend, with fresh lows occurring much more recently than fresh highs.
Solana price daily chart — Oct. 16 | Source: TradingView
The Awesome Oscillator was also negative at −6.49, and its latest bars were red. Together, those readings show that the retreat toward support is still accompanied by weakening momentum.
Crypto Xlarge offered a more optimistic monthly interpretation in an Oct. 16 post. The account described price compressing between rising support and horizontal resistance, alongside a possible RSI trendline breakout.
Its outlook depends on confirmation. SOL remains well below the upper boundary drawn on that monthly chart, while the immediate daily setup is testing whether buyers can preserve support.
U.S. fund flows add another obstacle. Farside Investors recorded $9.8 million in Solana ETF withdrawals on Oct. 15, extending the negative streak to nine trading sessions. Calculated from its table, those sessions produced approximately $37.8 million in combined outflows.
The selling also followed a broader withdrawal from crypto funds. crypto.news’ weekly ETF flow review recorded $1.29 billion in withdrawals across five tracked U.S. crypto ETF categories during Oct. 5–9.
Liquidation clusters frame the next recovery attempt
CoinGlass’s one-month liquidation heatmap showed nearby concentrations around $104–$105, with further bands around $108–$110. Larger overhead concentrations remained near $123–$125, close to the region where the recent advance stalled.
Solana liquidation heatmap | Source: CoinGlass
Below price, visible bands around $100–$101 and $96–$97 place leveraged positions near the same area now being tested on the weekly chart.
crypto.news’ previous Solana price analysis documented Thursday’s rebound from $100.62 toward $106.20. The latest daily reading near $104.47 shows that buyers have already surrendered part of that recovery.
Alpenglow provides the next scheduled network catalyst. The Solana Foundation expects activation on Oct. 21, targeting roughly 150-millisecond finality.
For price, the nearer test remains $99–$101. Holding that region would preserve a route back toward $108–$110 and the weekly resistance near $112.43. Losing it would expose the heatmap concentrations around $96–$97, with the 20-week average near $89.56 becoming the next broader reference.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
NEAR za posledních 24 hodin vzrostl o více než 12 % po partnerství mezi Sunrise a Near Intents, které otevírá likvidní trhy pro aktiva NEAR Intents na Solaně.
NEAR prices have risen in response to Sunrise and Near Intent’s partnership to establish liquid markets for NEAR Intents assets on Solana, as announced in their recent tweet. Over the last 24 hours alone, the token has gained more than 12%.
Moreover, the partnership could expose NEAR to a broader trading audience by making the token accessible within Solana’s [SOL] ecosystem.
With fresh market access and investment flows supporting the bullish bias, can NEAR extend its bullish run?
How is NEAR market activity reacting to the news? Notably, the development arrives as trading activity picks up in the Futures market and retail traders increase their participation across the spot markets.
Solana Compass reported approximately $11.4 million in 24-hour trading volume for NEAR on Solana on launch day, alongside about $819K in netflow.
Source: Solana Compass The coin’s derivative data shows that NEAR Intent revenue has skyrocketed to $163K, not been recorded over the past three months. This being just the beginning the token revenue could be key for the token’s anticipated bullish run continuation.
Source: DefiLlama Notably, NEAR ETFs reported $1.13 million in daily inflows, indicating that investors are still allocating capital to NEAR-linked products during the period. Moreover, persistent inflows could support demand, although a single session cannot establish a lasting trend.
Source: SoSoValue Will NEAR crypto’s bullish run prevail? On the daily chart, the impacts of the development are evident. NEAR’s price action is currently gaining momentum from a key demand zone. The token’s bullish gains are going hand in hand with its trading volume, with its prices now trading above all key EMAs.
All in all, with the partnership and ETF inflow surge, NEAR projected rally continuation could occur. However, traders and investors should be aware of the bearish caution from a potential profit-taking phase among the holders and bulls on floating profits.
Source: TradingView Final Summary NEAR’s Sunrise partnership opens a new route into Solana markets. Reported ETF inflows of $1.13 million and rising trading activity could support the rally if buying pressure persists.
798 peněženek drží 94,6 % obíhající nabídky SHIB. Investoři za posledních 24 hodin přesunuli 51 miliard SHIB z kryptoměnových burz do svých vlastních peněženek.
Shiba Inu (SHIB), a popular meme-based cryptocurrency, is aiming to regain bullish momentum after a recent correction. The project’s community hopes that an upward move would help eliminate another zero from the token’s price and increase the market capitalization to $7 billion.
Key resistance levels and technical outlookSHIB experienced a strong rally in the third quarter, gaining 39.3%. However, this upward trend has since reversed, with the price retreating to approximately $0.00000516. The coin’s market capitalization now sits at around $3.05 billion, and price action has stalled.
Analysts point to the 23-week moving average as a crucial resistance level. The token’s price has slipped below this benchmark, and the next notable support rests at the psychologically significant $0.00000500 mark. This level also serves as a key threshold for maintaining SHIB’s $3 billion market cap.
If buyers succeed in pushing SHIB above the 23-week moving average by the weekly close, it could signal renewed growth and set the stage for further gains. Conversely, failure to reclaim this level increases the risk of a decline toward the summer lows.
Whale influence and concentrated ownershipOwnership within the SHIB ecosystem remains highly concentrated. Current blockchain analytics reveal that 798 wallets control a striking 94.6% of the total circulating supply. This elite group includes 310 wallets each holding dollar millionaire status in SHIB.
These major holders play a decisive role in price dynamics. If large investors collectively support the price above critical levels, a shortage of available supply could trigger a broader market reaction.
On the retail side, around a million smaller investors continue to monitor whale activity, with many hoping bullish momentum will return if the price recovers key technical levels.
Mini dictionary: Whale, a market participant who holds a very large amount of a particular cryptocurrency, often able to influence prices due to the size of their transactions.
MetricCurrent ValueKey Level/Recent ChangeSHIB price$0.0000051623-week MA as resistanceMarket capitalization$3.05 billionTarget: $7 billionTokens withdrawn from exchanges (24h)51 billion SHIBN/AOwnership concentration94.6% held by 798 wallets310 wallets with $1 million+Large withdrawals and market sentimentDespite the price pullback, blockchain data shows that major players are withdrawing SHIB from exchanges and accumulating coins. Over the past 24 hours, investors have moved 51 billion SHIB into personal wallets, reflecting confidence among leading holders.
This ongoing accumulation suggests that, even amid volatility, significant holders remain optimistic about SHIB’s prospects. Market watchers note that until these whales decide to sell, the circulating supply is likely to stay tight, which could fuel future price surges if bullish triggers appear.
As soon as whales push the price above key resistance, retail investors may flood back in, driving SHIB’s market capitalization toward the $7 billion mark.
The cryptocurrency market is showing renewed momentum, and Shiba Inu is benefiting from this resurgence. Recent trading activity has pointed toward a shift in sentiment, with bullish investors appearing to regain control after a period of volatility.
Netflow data signals renewed interestCryptoQuant, an analytics platform specializing in on-chain data, has reported a significant decrease in Shiba Inu’s exchange netflow. As of October 16, the netflow had fallen by more than 5%, reaching -78,761,600,000 SHIB.
A negative netflow indicates that more SHIB tokens are leaving exchanges than entering. This suggests a higher number of tokens are being withdrawn, likely for long-term holding, which is generally interpreted as a sign of growing investor confidence and demand in the asset.
Shiba Inu’s netflow falling by 78 billion SHIB reflects increasing investor willingness to hold, signaling that selling pressure has finally eased after weeks of turbulence.
The timing of this shift is notable. After extended volatility and heavy selling, the negative netflow points to a cooling of sell pressure within the Shiba Inu ecosystem.
CryptoQuant’s data underscores that the withdrawal of SHIB from exchanges marks a turning point, as persistent outflows often precede upward price movements when confidence returns to the market.
Price rebounds after losing supportEarlier market turbulence had caused Shiba Inu to lose its support near the $0.000005 mark. With the market environment improving and buying activity increasing, the token has recovered and now trades above $0.0000051.
IndicatorPreviousCurrentSupport level$0.000005$0.0000051Exchange netflow (SHIB)Not reported-78,761,600,000 SHIBMarket analysts suggest that if this bullish momentum continues, Shiba Inu may be in a position to overcome what has been described as the “negative Uptober curse,” a phrase referring to previous tendencies for the token to underperform during October.
Despite the recent uptick, uncertainty remains regarding Shiba Inu’s longer-term trajectory. Analysts are watching closely to see whether the asset can sustain the current rally or face renewed volatility.
Shiba Inu, launched in 2020 as a decentralized meme token, has built a significant following and is widely traded among retail investors. Its price remains highly sensitive to market sentiment and token flows on exchanges.
The recent developments highlight how on-chain metrics like exchange netflows can provide early signals about broader market shifts, especially for high-profile tokens such as SHIB.
Navrhovaný Lido Lend přidává Fallback Exits, které věřitelům v případě nedostatku likvidity umožní převzít kolaterál dlužníků. Spuštění závisí na schválení Lido DAO.
Lido wants lenders to stop worrying about getting stuck at the exit. Its proposed lending platform, Lido Lend, now includes a feature called Fallback Exits, which would let lenders withdraw liquidity using borrower collateral when markets turn rough.
What Fallback Exits actually do Lido contributors announced Fallback Exits on October 16, 2026. That came nine days after they first unveiled Lido Lend on October 7, 2026.
The feature targets a specific problem. In a lending market, lenders deposit an asset, and borrowers take it out against collateral. Under normal conditions, a lender who wants out simply withdraws whatever loan asset is sitting idle in the pool. The trouble starts when borrowers have taken nearly all of it.
Fallback Exits offer a second door. When primary loan-asset liquidity is lacking during market stress, lenders can access borrower collateral instead of waiting for the pool to refill.
How Lido Lend is built Lido Lend is proposed as a decentralized lending market based on a modified fork of Morpho Blue.
The platform is meant to serve two groups. One is long-term passive lenders who want yield without hidden risks. The other is professional borrowers, particularly those running leveraged positions.
Lido Lend would operate through isolated markets. Each market stands on its own, so trouble in one pairing is designed to stay in that pairing instead of spreading across the whole platform.
The markets would center on blue-chip and price-correlated assets. Examples in the proposal include wETH/wstETH, stETH/ETH and USD/Treasury RWAs, meaning tokenized real-world assets tied to US Treasuries.
The proposal also includes deposit screening to filter out tainted funds, aimed at keeping illicit or compromised assets out of the markets in the first place.
Why Lido is leaning so hard on safety Lido built its reputation in liquid staking. Its stETH product has over $25 billion staked without any significant security breaches, according to the research findings.
DeFi lending has had a rough stretch. The KelpDAO bridge exploit in April 2026 was one of several incidents that raised concerns about liquidity crunches and collateral safety across the sector.
Not a done deal yet None of this is live. The launch of Lido Lend hinges on approval from the Lido DAO, the governance body that steers the protocol.
Technical specifications and protocol details are expected in the coming weeks. The DAO is set to weigh in on both whether to accept the protocol and what its launch parameters should be, including market settings.
The project’s timeline anticipates a full launch in Q4 2026. That target is contingent on successful governance votes, so the date could move if the DAO pushes back or asks for changes.
What this means for lenders and the DeFi market A lender using a Fallback Exit would walk away with collateral, not the asset they originally deposited. In a correlated market like wstETH/wETH, that gap may be small, but it is still a different position than the one the lender signed up for.
The emphasis on isolated, blue-chip markets may also appeal to institutional investors, per the research findings. Institutions tend to prefer contained risk and familiar assets, and Treasury-linked RWA markets fit neatly into that preference.
The next checkpoints are clear. Watch for the technical specifications, the DAO votes on acceptance and launch parameters, and whether the Q4 2026 timeline holds once governance has its say.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
