PANews reported on May 27th that, according to The Block, Manuel Aráoz, co-founder of crypto security firm OpenZeppelin, stated that he now believes "all DeFi" is insecure and has been advising friends and family to exit all DeFi positions, including low-risk positions in blue-chip protocols such as Aave, MakerDAO, and Compound. Aráoz pointed out that the asymmetry between attackers and defenders in security incidents is intensifying; programming agents possess superhuman abilities to discover vulnerabilities, requiring defenders to fix every single one, while attackers only need a single exploit to steal funds.
Nearly $630 million was stolen from DeFi protocols in April, the worst month since the $1.5 billion theft from Bybit in February 2025. Attacks on Drift and Kelp DAO resulted in losses of $285 million and $293 million respectively, both attributed to North Korean hackers. Since mid-April, total value locked in DeFi has decreased by approximately 14%, from about $172 billion to $148 billion.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
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Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
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The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
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US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Former OpenZeppelin CTO Manuel Aráoz advised friends and family to exit Aave, MakerDAO, and Compound, citing AI coding agents that are now “superhuman” at finding vulnerabilities, though OpenZeppelin pushed back.
Posted May 28, 2026 at 6:33 am EST.
Manuel Aráoz, former CTO and co-founder of blockchain security firm OpenZeppelin, said in an X post Tuesday that he now considers “all” of decentralized finance unsafe, citing the rise of AI coding agents as a structural threat that traditional audits cannot keep pace with.
“PSA: I now consider all of DeFi unsafe,” Aráoz wrote. “Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.” He added that he has advised friends and family to exit positions in major DeFi protocols including Aave, MakerDAO, and Compound, three of the most established lending and stablecoin platforms in the ecosystem.
This story is an excerpt from the Unchained Daily newsletter.
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Aráoz’s standing matters even though he no longer represents OpenZeppelin. He co-founded the firm in 2015 alongside current CEO Demian Brener, and the OpenZeppelin smart contract library underpins audits for Aave, Compound, MakerDAO, Uniswap, Coinbase, and the Ethereum Foundation. He served as CTO before departing in 2019.
“Aráoz’s views do not represent OpenZeppelin‘s current position,” OpenZeppelin pushed back on the post publicly via a OpenZeppelin has been building AI-augmented security tooling, including a system called Skills that gives AI coding agents authoritative knowledge of audited smart contract libraries.
The numbers behind Aráoz’s warning are bleak.
DefiLlama data shows more than $1.1 billion lost to DeFi hacks over the past 365 days. April 2026 alone saw nearly $630 million drained across at least 27 reported exploits, the worst month for DeFi security since the Bybit incident in early 2025. The $292 million Kelp DAO bridge exploit on April 18, attributed to North Korea’s Lazarus Group, led the month, followed by a $285 million loss at Drift Protocol tied to a six-month social engineering campaign. Step Finance shut down earlier this year after a $27 million exploit it could not recover from. Since January 2026, more than $137 million has been drained from at least 15 DeFi platforms.
The structural argument Aráoz makes has not been resolved by the industry. Audits cost money, take weeks, and cover code as it exists at the time of review, not the version that a determined attacker probes weeks later. Anthropic has restricted public access to its Claude Mythos model in part because of concerns about its ability to autonomously discover and weaponize software flaws.
OpenZeppelin itself published a framework in May called the “Four Layers of DeFi Risk,” explicitly arguing that audits alone are no longer sufficient. The disagreement between Aráoz and his former firm is less about whether the threat has changed than about whether the right response is to retreat from DeFi entirely or to invest harder in AI-augmented defense.
The FBI recently took out a massive internet scam network, arresting over 300 people, freeing over 2,000 people from human trafficking, and seizing over $8 billion in cryptocurrency.
The FBI said last week that it primarily focused on taking down what it calls “scam compounds” in Asia, Africa, and the Middle East. The scam compounds are typically guarded and filled with trafficked workers who are forced to conduct romance scams and fake investment schemes that target many Americans. Over 2,000 people were freed from the compounds.
The operation focused on Prince Holding Group, a company in Cambodia. Authorities also took out a criminal compound in Dubai, Myanmar, and Thailand. Altogether, the FBI seized over 127,000 bitcoin from the nine scam compounds, which is over $8 billion, making it the largest crypto seizure in human history.
The United States worked with Dubai police to arrest 275 people, six of whom will be transported to the United States to face federal charges.
FBI Director Kash Patel, said the major crackdown gives a clear message to scammers across the world.
“If you target Americans, we will find you, disrupt your network, and bring every available tool of the federal government down on you,” Patel told Fox News.
The FBI also took down the “Democratic Karen Benevolent Army,” an armed militia in Myanmar that has ties to Chinese mobsters and has been engaging in this criminal scam network..
The U.S. seized thousands of smartphones and other office equipment in Thailand, severely crippling the scam infrastructure there.
During the whole operation, the FBI worked with the Royal Thai police, the Burmese army, Dubai’s police, and some Chinese investigators. The FBI also utilized Elon Musk’s Starlink to take down over 7,000 terminals in Myanmar that criminals were using to facilitate communications.
The FBI’s 2025 “Internet Crime Report” states that Americans have been defrauded of $21 billion in cyber-related crimes, with AI and crypto-related scams being the costliest.
Apprehending these con artists and hackers is difficult as the internet allows them to be scattered across the world, seemingly untouchable by American authorities.
TLDR:Binance Pushes BackStakes and ContextGet 3 Free Stock Ebooks Binance faces $1.76B clawback claim over FTX’s 2021 share repurchase using customer funds. Zhao argues Delaware courts lack jurisdiction due to his UAE residence and offshore entities. Binance cites safe-harbor rules for securities transfers to counter FTX’s fraud claims. The case could define U.S. bankruptcy reach over global crypto transactions and offshore gains. Binance is locked in a fierce legal fight. FTX’s estate is demanding nearly $1.8 billion back. The claim centers on a 2021 share repurchase. Binance’s founder, Changpeng Zhao, has filed to drop the case. The stage is set for a jurisdictional showdown.
FTX Digital Markets Ltd. alleges that in July 2021, Binance and Zhao benefited from a $1.76 billion fraudulent transfer. That deal came via Alameda Research, using FTT, BNB, and BUSD tokens.
At the time, Alameda was insolvent and funded the deal with customer funds. It makes up the core of the clawback suit.
The trust argues both constructive and intentional fraud under U.S. Bankruptcy Code sections. They claim the transaction was part of Bankman‑Fried’s broader scheme to misappropriate deposits.
Binance Pushes Back Zhao filed a motion in Delaware bankruptcy court on August 4, 2025. He argues the court lacks jurisdiction over him. He lives in the UAE, not Delaware or the U.S. The trust’s claims, he says, are “so far removed” they fall outside legal reach.
Zhao calls himself a “nominal counterparty.” He insists the entity structure and offshore routing place the transfer outside U.S. law. He also contests that FTX’s lawsuit misapplies safe‑harbor protections tied to securities transfers.
FTX’s filing frames Alameda’s payment as knowingly improper. Caroline Ellison later testified they lacked resources and used customer deposits anyway. Bankman‑Fried dismissed those concerns and pushed ahead. The asset backing of the share repurchase was illusory from the start.
Binance counters that the structure was internationally executed. Its firms reside in Ireland, the Cayman Islands, and BVI. The trust cannot allege Zhao was ever legally “at home” in Delaware. Serving U.S. counsel on him, they argue, violates rules for foreign defendants.
Stakes and Context FTX was once a top exchange. Its collapse wiped out over $8 billion in customer deposits. The trust is now trying to claw back funds tied to senior executives and outside parties. This suit is a key part of that effort.
Zhao faces past legal issues too. He served four months in prison for U.S. anti‑money‑laundering violations. Bankman‑Fried is serving 25 years for fraud. Their dueling motions now focus on this civil liability fight over jurisdiction and fault.
This case will test whether U.S. bankruptcy courts can reclaim offshore crypto gains tied to alleged bankruptcy fraud. Binance insists the suit fails on technical and jurisdictional grounds. Meanwhile, FTX’s estate pushes forward, seeking major recovery for creditors. Investors and crypto watchers should watch closely.
New York's financial regulator fined Paxos $26.5 million for compliance failures linked to its past partnership with Binance.Paxos agreed to invest an additional $22 million to enhance its compliance program to meet NYDFS standards.The compliance issues also included inadequate monitoring for illicit activity and a deficient Know Your Customer (KYC) program.New York’s top financial regulator has fined Paxos, a New York City-based stablecoin issuer, $26.5 million for “systemic failures” in its compliance and anti-money laundering programs, including a past partnership with global crypto exchange Binance, according to a Thursday announcement.
In addition to the fine, Paxos agreed to spend another $22 million improving its compliance program to bring it up to snuff with the New York Department of Financial Services’ (NYDFS) standards.
“The Department of Financial Services has led the nation in regulating the virtual currency industry, protecting consumers and markets through examinations, supervision, and where necessary, enforcement,” NYDFS Superintendent Adrienne Harris said in a press statement. “Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors. The Department continues taking significant steps to ensure accountability, in turn protecting consumers and safeguarding the integrity of the financial system.”
The compliance failures identified by NYDFS were largely tied to Paxos’ one-time partnership with Binance, the world’s largest crypto exchange. The two companies teamed up in 2019 to issue Binance’s dollar-pegged stablecoin, BUSD. The relationship with Binance eventually landed Paxos in hot water: in 2023, NYDFS launched an investigation into Paxos’s issuance of BUSD, the U.S. Securities and Exchange Commission (SEC) sent Paxos a Wells notice informing the company of its intention to sue (a year later, the SEC decided to drop its enforcement action) and Paxos ultimately decided to stop issuing BUSD altogether at the order of NYDFS.
The fine announced Thursday is tied to NYDFS’ original investigation. According to NYDFS’ press release, the investigation revealed that Paxos didn’t have appropriate controls in place to effectively monitor for illicit activity occurring through Binance. And when illicit activity was identified, the regulator said, the company “failed to escalate red flags” to Paxos’ higher-ups and board members.
In addition to the Binance-related compliance issues, NYDFS said its investigation into Paxos turned up other deficiencies in its compliance program, including an “unsophisticated” Know Your Customer (KYC) program that allowed illicit actors to open multiple accounts and remain undetected, and a “deficient” transaction monitoring system that prevented Paxos from “detecting obvious patterns of money laundering.”
A representative for Paxos described the compliance failures identified by NYDFS as “historical issues that were identified over two and a half years ago and have since been fully remediated.” The issues, the representative added, “had no impact on customer accounts and there was no consumer harm.”
“This marks the resolution of this matter and we are pleased to put it behind us,” the representative said. “There are no new claims regarding Paxos’ relationship with Binance or the issuance of BUSD, and Paxos’ other white-labeled stablecoins operate on similar models with different partners and have not faced any regulatory issues.”
TLDR New York regulator fined Paxos $26.5 million for compliance failures related to its Binance partnership Paxos agreed to invest an additional $22 million to improve its compliance program Issues included inadequate monitoring for illicit activity and deficient KYC procedures NYDFS found approximately $1.6 billion in illicit flows between Binance and Paxos via BUSD Paxos states these were “historical issues” that have been “fully remediated” Paxos, a New York-based stablecoin issuer, has reached a $48.5 million settlement with the New York Department of Financial Services (NYDFS) over compliance failures related to its past partnership with cryptocurrency exchange Binance.
The settlement, announced on August 7, 2025, requires Paxos to pay a $26.5 million fine to New York state. The company has also committed to investing an additional $22 million to overhaul its compliance program.
The regulatory action stems from Paxos’ partnership with Binance, which began in 2019 when the two companies collaborated to issue Binance’s dollar-pegged stablecoin, BUSD. According to the NYDFS investigation, Paxos failed to implement proper controls to monitor illicit activity occurring through Binance.
NYDFS Superintendent Adrienne Harris emphasized the importance of risk management in a press statement.
“Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors,” Harris said.
The regulator identified several specific compliance failures in its investigation. When illicit activity was detected, Paxos reportedly “failed to escalate red flags” to higher-level executives and board members within the company.
Compliance Shortcomings Beyond the Binance-related issues, NYDFS discovered other deficiencies in Paxos’ compliance infrastructure. The company’s Know Your Customer (KYC) program was described as “unsophisticated,” allowing bad actors to open multiple accounts without detection.
NYDFS also criticized Paxos’ transaction monitoring system as “deficient,” stating it prevented the company from “detecting obvious patterns of money laundering.” The regulator found approximately $1.6 billion in illicit flows between Binance and Paxos through the BUSD stablecoin.
This settlement resolves an investigation that began over two years ago. In February 2023, NYDFS ordered Paxos to stop issuing BUSD altogether. Around the same time, the U.S. Securities and Exchange Commission (SEC) sent Paxos a Wells notice indicating its intention to sue the company.
The SEC later dropped its enforcement action against Paxos in 2024. The regulator had initially accused Paxos of distributing “unregistered securities” and violating consumer protection laws through its Binance partnership.
Regulatory Timeline The regulatory scrutiny of Paxos intensified in early 2023 when both the SEC and NYDFS took action against the company within days of each other. NYDFS stated that while it had authorized Paxos to issue BUSD on the Ethereum blockchain, it had not authorized “Binance-Peg BUSD” to be issued on any blockchain.
A representative for Paxos described the compliance failures identified by NYDFS as “historical issues that were identified over two and a half years ago and have since been fully remediated.” The spokesperson added that these issues “had no impact on customer accounts and there was no consumer harm.”
“This marks the resolution of this matter and we are pleased to put it behind us,” the Paxos representative stated. “There are no new claims regarding Paxos’ relationship with Binance or the issuance of BUSD, and Paxos’ other white-labeled stablecoins operate on similar models with different partners and have not faced any regulatory issues.”
The NYDFS action against Paxos comes amid increasing regulatory oversight of the cryptocurrency industry, with anti-money laundering regulations and KYC requirements becoming major focus areas for government agencies.
Regulators say Paxos failed to monitor Binance effectively, allowing $1.6B in criminal-linked transactions to pass through the platform.
Paxos has agreed to pay $48.5 million to the New York Department of Financial Services (NYDFS).
This is to resolve allegations related to inadequate due diligence on its former partner, Binance, and failures in its anti-money laundering program.
NYDFS Probe Finds Paxos Lacked Oversight According to an August 7 press release, the terms of the settlement require the stablecoin issuer to pay a $26.5 million fine and invest $22 million in its compliance program. Paxos previously issued the Binance USD (BUSD) stablecoin until 2023, when the NYDFS ordered it to stop over the exchange’s poor geofencing and sanctions controls. According to the regulator, the action was the “first orderly wind down of a stablecoin.”
“Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors,” said Superintendent Adrienne A. Harris.
Paxos, licensed in 2015 as a limited-purpose trust company, was authorized to operate in the virtual currency space. It later entered a partnership with Binance to issue, market, and distribute BUSD.
As part of its regulatory obligations, the firm was required to conduct regular due diligence on Binance. However, New York’s financial watchdog found that it did not have proper controls in place to monitor for serious illegal activity happening on or through the exchange. It also failed to escalate red flags to its senior management and board.
One key issue was Binance’s “lax geofencing,” which allowed users in the U.S. to access its unlicensed exchange. A review of historical transactions between 2017 and 2022, focusing on selected digital assets, revealed that approximately $1.6 billion that moved through it was linked to criminal activity. The investigation also found that the platform had processed payments involving entities that had already been sanctioned by the U.S. Office of Foreign Assets Control (OFAC).
Compliance Issues Beyond its shortcomings with Binance, the New York regulator also found that Paxos had been running a weak compliance program for years. The company’s Know Your Customer (KYC) procedures were described as “unsophisticated,” allowing users with shared addresses, overlapping documents, and suspicious behavior to open multiple accounts undetected.
You may also like: Binance Makes a New Push to Secure EU Approval Pushing Back at Reuters: Inside Binance’s Fight for Its European Future 160 Security Veterans Urge US Senate to Pass CLARITY Act Its poor transaction monitoring system also failed to catch clear signs of money laundering. Authorities noted that the firm had no clear rules for launching investigations after receiving law enforcement requests, which further delayed the detection of illicit activity on the platform.
Paxos has since moved to rebrand itself as a compliance-focused blockchain infrastructure provider. The company has stated that the issues identified were historical, have been fully resolved, and did not impact customer accounts. It continues to operate other regulated stablecoins, including Pax Dollar (USDP) and PayPal USD (PYUSD).
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On-chain data shows the US is one of the world’s largest Bitcoin holders, with its portfolio now exceeding $24 billion. However, recent events have shown that the possibility of the US government increasing its stash is very low. Particularly, the US government’s strategy for cryptocurrency took a new turn this week after Treasury Secretary Scott Bessent clarified that Washington will not be actively buying any additional Bitcoin.
Bessent Rules Out New Purchases But Leaves A Possibility While speaking in a Fox Business interview, US Treasury Secretary Scott Bessent explained that the government has no plans to buy additional Bitcoin beyond its current reserve. The Treasury chief said the reserve will continue to be funded primarily through assets seized in criminal cases rather than direct purchases. His estimates place the value of the reserve between $15 billion and $20 billion.
Bessent later softened his position on social media, noting that even though the US is not allocating budgetary resources to acquire more Bitcoin, it is committed to “budget-neutral pathways” for expanding reserves to make the country the Bitcoin superpower of the world. The statement suggests that auctions, seizures, and non-traditional acquisitions could still increase holdings in the future, even if the Treasury avoids direct market buys.
Bitcoin Holdings Push Toward $24 Billion Data from blockchain analytics platform Arkham Intelligence reveals a bigger picture than Bessent’s estimates of $15 billion to 20 billion. According to Arkham, wallets linked to the US government currently hold about 198,022 BTC, valued at approximately $23.42 billion. Many of these holdings originated from seizures related to criminal activity, including the well-known Silk Road case.
The portfolio, however, extends well beyond Bitcoin. Arkham’s data reveals holdings of about 59,951 ETH, worth $273 million, along with 347 million USDT and smaller allocations across other assets such as 750 WBTC, 40,293 BNB, 5,205 WETH, and 13.6 million BUSD. Taken together, the government’s digital asset holdings are valued at approximately $24.27 billion. This figure recently climbed as high as $25 billion during Bitcoin’s surge above $124,000 last week.
Source: Chart from Arkham Earlier this year, President Donald Trump signed into law the creation of a strategic crypto reserve, a move many interpreted as the start of government-led Bitcoin accumulation. Trump himself had many investors increase their expectations after stating that the United States would prioritize US-based cryptocurrencies like BTC as part of its financial strategy.
This context is what made Bessent’s recent statement so significant. Although the reserve exists in law, the Treasury has now made it clear that active market purchases of Bitcoin are not on the table for the time being. However, it is clear that the US government isn’t planning to sell its holdings anytime soon, which might flood the market with selling pressure.
BTC trading at $114,859 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com
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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.
TLDR: BNB price crossed $1000 after network upgrades slashed block time to 0.75 seconds and lowered gas fees by 90%. Stablecoin USD1 filled the gap left by BUSD, boosting liquidity and onchain trading activity on BNB Chain. SEC lawsuit dismissal reduced regulatory risk, unlocking demand for BNB from traders and institutions. Billions in BNB burns, new RWA deployments, and venture capital inflows tightened supply and drove price upward. BNB has smashed past $1000, leaving traders asking what pushed the move. The rally did not happen in isolation. Multiple factors across regulation, network upgrades, and liquidity lined up in rapid succession.
BNB Chain projects ramped up activity and demand soared. Legal clarity removed a key overhang, giving the token more room to run.
BNB Chain Upgrades and Higher Network Demand CZ, founder of Binance, pointed to several changes on BNB Chain that helped build momentum. The network cut block times twice, moving from three seconds to under one. Faster confirmations drew in users who valued speed over cost.
Gas fees dropped by 90%, making transactions cheaper for traders. Lower costs helped drive a spike in activity across DEXs and stablecoins. According to onchain data shared by Sakura_XBT on X, daily transaction volume surged past other chains during this period.
Why BNB reach $1000?
Good question. No one knows for sure. Correlation does not prove causation. But here is a incomplete list of possible reasons.
People tend to give me too much credit. I didn't do much. I am not technically involved like Vitalik. I am at best a mascot, but… https://t.co/rvhFA0yxYP
— CZ 🔶 BNB (@cz_binance) September 18, 2025
Binance Chain also saw the launch of USD1, its first native stablecoin since BUSD’s shutdown in 2023. This restored liquidity and created deeper markets for DeFi users. Multiple RWA and AI projects went live on BNB Chain, expanding use cases and drawing capital back to the ecosystem.
PancakeSwap, Lista, and other DeFi protocols reported higher volumes as liquidity deepened. The rise of meme coins also brought retail traders back, adding more transactions to the chain.
Legal Clarity and Fresh Capital Inflows Legal pressure on Binance eased after the SEC dropped its lawsuit earlier this year. CZ said this removed concerns about BNB’s status as a security. Traders treated the move as a green light, reducing perceived risk around holding Binance Coin.
BNB Chain burned $1.6 billion worth of BNB in the last quarter, adding deflationary pressure. The reduced supply combined with growing demand amplified the price effect.
Venture firms such as YZiLabs increased investments, incubating dozens of projects on the network. These launches created fresh token demand as builders and traders used the token for fees and liquidity.
Sakura_XBT also pointed out that multiple digital asset treasury buyers acquired BNB in large size. This steady flow of institutional purchases added to price support as the market broke through key levels.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
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Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
PANews reported on February 21 that on-chain analyst Specter published an article on the X platform stating that IoTeX may have suffered a private key breach, with its token safe assets being completely transferred out by attackers, resulting in a total loss of approximately $4.3 million.
On-chain data shows that the attackers transferred multiple contract assets, including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. The stolen assets were subsequently converted into ETH, with approximately 45 ETH transferred across the blockchain to the Bitcoin network. The incident is still under further investigation.
The attacker's addresses that have been disclosed so far are as follows:
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
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The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
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Standard Chartered has suggested that Aave, one of the leading decentralized finance (DeFi) lending protocols, could regain momentum as tokenized assets see wider adoption within DeFi. According to the bank’s analysis, this trend may attract more deposits to the platform and strengthen Aave’s position in the on-chain lending market.
Recovery prospects for AaveGeoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, noted in a research memo published Wednesday that a surge in active tokenized assets within DeFi could accelerate new inflows to Aave. The protocol is recognized as one of the largest DeFi platforms, enabling users to borrow and lend cryptocurrencies by posting crypto assets as collateral.
Despite recent disruptions, Standard Chartered maintains a positive outlook for Aave, the largest DeFi lending protocol, and emphasizes that the negative impacts witnessed recently may diminish with time.
The research points out that Aave’s recent performance has been weighed down by the general decline in digital asset prices and by a cyber theft linked to KelpDAO in April. Standard Chartered says the $292 million incident exerted additional pressure on Aave, triggering outflows and contributing to a drop in its share of the lending market.
However, the bank believes these negative factors are unlikely to be permanent. Kendrick expressed confidence that the remainder of the year could bring significant gains in digital asset prices and suggested Aave may have largely moved beyond the impact of the April event.
Tokenization theme expands to lendingAccording to Standard Chartered’s assessment, the tokenization trend is now extending beyond decentralized trading into lending markets. The bank sees Aave as one of the key platforms where users could eventually borrow against tokenized versions of real-world assets (RWAs). In this context, RWA refers to traditional assets such as bonds, funds, real estate, or receivables that are represented on blockchain as digital tokens.
Glossary: RWA stands for real-world assets tokenized on blockchain. This allows traditional financial assets to serve as collateral or a source of liquidity in DeFi applications.
Data from the research note highlights that, by October 2025, Aave’s deposit base could reach $75 billion—a level on par with the top 30 banks by deposits in the United States. Standard Chartered projects that as tokenized assets become more prevalent as collateral and liquidity within DeFi, Aave could recapture a portion of its previous scale.
Kendrick’s analysis states that with broader adoption of tokenized assets, Aave is expected to regain part of the scale it once achieved.
Broader outlook for DeFiIn a previously published research report, Standard Chartered estimated that the total value locked in DeFi could reach $2.7 trillion by 2030. This forecast is based on the assumption that both RWAs and other crypto-native assets will increasingly migrate onto on-chain protocols.
The bank also highlighted Uniswap on the transactional side of tokenized markets. The analysis noted that Uniswap’s size, recognition, and proven activity across different market cycles could make it a central venue for tokenized asset trading.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bullish predictions continue to emerge for AAVE, which made headlines in 2026 due to a hacking attack.
At this point, following Grayscale, British banking giant Standard Chartered also announced a strong bullish forecast for AAVE.
In its latest report, Standard Chartered predicted that the price of the crypto lending protocol Aave (AAVE) could reach $3,500 by 2030.
The bank states that it expects Aave to be a significant gainer, given the approximately 37-fold growth of the decentralized finance (DeFi) market and the rapid on-chain adoption of tokenized finance.
Geoff Kendrick, Standard Chartered’s global head of digital asset research, said, “Despite recent setbacks, we remain optimistic about the future of Aave, the largest lending protocol.”
The bank stated that Aave’s recent performance has been affected by the general decline in cryptocurrency prices and the hack targeting KelpDAO in April.
“We believe both of these negative factors will disappear. We foresee a significant increase in digital asset token prices by the end of the year, and we think Aave has put the impact of the April incident behind it.”
Besides Standard Chartered, Grayscale also issued a bullish forecast for AAVE. According to Grayscale, AAVE is undervalued and could rise to $175 within a year.
AAVE, which has risen 5.8% in the last 24 hours, is still trading at $76.4 at the time of writing.
*This is not investment advice.
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Standard Chartered initiated coverage of Aave (AAVE) on Tuesday, forecasting the decentralized lending protocol's native token could rise 50x to $3,500 by the end of 2030 from roughly $74 today.
The initiation, authored by Geoffrey Kendrick, the bank's global head of digital assets research, extends a series of bullish decentralized finance calls Standard Chartered has published this year.
The Block covered the bank's April note arguing DeFi was "bent, not broken" after the KelpDAO exploit, its May projection of $4 trillion in tokenized assets by end-2028, and its June initiation of Uniswap (UNI) with a $100 end-2030 target.
Aave is the third DeFi protocol to receive formal coverage under that framework, with a price target the bank frames as a bet on DeFi's structural recovery and a coming wave of real-world assets moving onchain.
The recovery case The April 18 exploit of KelpDAO — which saw roughly $292 million in rsETH drained from a LayerZero-powered bridge and deposited as collateral on Aave — looms over the initiation as context rather than obstacle, per Standard Chartered's read.
The Block reported the incident and its spread to Aave as the protocol froze rsETH-related markets and absorbed sharp deposit outflows.
At the time, the damage was substantial.
Deposits on Aave fell from $44 billion to $23 billion following the exploit, while active loans dropped from $18 billion to $9.5 billion, according to Kendrick’s note.
Aave's share of the broader lending market fell to 38% of deposits and 42% of active loans, down from 59% and 64%, respectively, in the 12 months before the theft.
Standard Chartered views those figures as a trough.
A slight uptick in both metrics from early June coincided with an announcement by Aave founder Stani Kulechov that the protocol was developing a new risk framework — still pending governance review— which the note cites as a sign of confidence.
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How the model works The thesis is built on a single structural observation: Aave's business model is linear.
Deposits drive loan volume, loan volume drives fee income, with 90% of Aave's fees derived from net interest margin in the last 12 months, and fee income drives market cap.
The protocol's loan-to-value ratio has held broadly steady at around 40% over the past two years, and roughly 15% of total fees accrue to the protocol as revenue, with the remaining 85% paid to liquidity providers.
The AAVE token buyback program, launched by the Aave DAO in April 2025 and paused the day after the KelpDAO exploit on April 19, is another lever that Kendrick flagged. The program had repurchased 205,000 AAVE tokens — approximately 1.3% of total supply — before it was halted. Standard Chartered supports the resumption of the buybacks.
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The DeFi growth engine The longer-term case rests on a projection that the value of assets deployed in DeFi will reach roughly $2.7 trillion by the end of 2030, a 37x increase from current levels.
Standard Chartered attributes that growth to expanding stablecoin supply, which is forecast to hit $2 trillion by the end of 2028 from roughly $310 billion today, rising tokenized non-stablecoin real-world assets and a rising share of tokenized assets actively deployed in DeFi, climbing to 30% from 3.5% today.
Notably, scaling Aave Horizon, the protocol's permissioned lending market for tokenized RWAs, launched in August 2025, is the critical longer-term driver in Kendrick’s view.
However, take-up has been slow. The platform held $163 million in active loans as of the end of May, against a total tokenized RWA market cap Standard Chartered puts at roughly $30 billion.
The note acknowledges that scaling Horizon to TradFi players will require navigating idiosyncratic compliance requirements across institutions, and that clearer U.S. regulatory frameworks, including potential passage of the Clarity Act, could accelerate the process.
V4 and GHO Aave V4, launched in March, is seen as a structural defense upgrade. Its hub-and-spoke architecture enables liquidity sharing across participating layer-2 protocols within the Ethereum Economic Zone, bypassing the need for bridges — the attack vector exploited in the KelpDAO incident.
As of the note's publication, 99.4% of Aave's deposits remain on V3, with only 0.4% migrated to V4. The EEZ is expected to go live on the mainnet this summer.
Aave's GHO stablecoin rounds out the medium-term upside case. Outstanding supply has grown to roughly $600 million since GHO's 2023 launch, a solid trajectory, the note allows, but still niche by stablecoin standards.
Unlike fee income from standard lending markets, all GHO-associated fees flow directly to the protocol, with no payout to external liquidity providers.
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The targets Kendrick's staged price targets place AAVE at $180 by end-2026, $600 by end-2027, $1,200 by end-2028, $2,200 by end-2029, and $3,500 by end-2030.
The note projects AAVE will outperform both ETH and BTC across that horizon, with Standard Chartered's reference forecasts putting ETH at $40,000 and BTC at $500,000 by end-2030.
Kulechov welcomed the note on X. Aave's smart contract model compresses traditional lending cost structures and "potentially the model could be applied to cater to the whole $400T finance industry," he wrote in a post.
Aave's deposits and active loans remain roughly half their pre-exploit peaks. The platform’s native token is down over 88% from its peak, The Block’s price page shows.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
TLDRAave Seen Regaining Ground as Market Pressures EaseTokenized Assets Drive Standard Chartered’s OutlookGet 3 Free Stock Ebooks Standard Chartered identified Aave as a potential beneficiary of growing tokenized asset activity in DeFi. The bank said tokenized assets could drive higher deposits and lending activity on Aave. Geoff Kendrick stated that recent pressures from lower crypto prices and the KelpDAO incident are fading. Aave’s deposit base reached about $75 billion in October 2025, according to the research note. Standard Chartered expects tokenized real-world assets to become a larger source of DeFi collateral. Standard Chartered has identified Aave as a potential beneficiary of growing tokenized asset activity within decentralized finance. The bank said rising adoption of tokenized assets could increase deposits on the lending protocol and support a recovery in its market position. The assessment appeared in a research note published Wednesday by Geoff Kendrick, the bank’s global head of digital assets research.
Aave Seen Regaining Ground as Market Pressures Ease Kendrick said Aave remains the largest decentralized lending protocol despite recent challenges. He stated that weaker digital asset prices and the April KelpDAO cybertheft affected the platform’s recent performance. He also said those factors reduced Aave’s lending market share as assets moved away from the protocol.
The research note linked part of the decline to the $292 million KelpDAO incident. According to Standard Chartered, the event contributed to lower activity on Aave during the period. However, Kendrick said the protocol has moved past the disruption and now faces improving conditions.
“We think both of those negatives are poised to fade,” Kendrick wrote. He added that the bank expects digital asset prices to rise into year-end.
As a result, Standard Chartered believes conditions could support renewed growth on the platform.
The bank also compared Aave’s deposit scale with traditional banking institutions. Kendrick said Aave’s deposit base reached about $75 billion in October 2025. He added that this figure would have placed the protocol near the 30th-largest U.S. bank by deposits.
Standard Chartered expects Aave to recover part of that scale over time. The bank pointed to increasing use of tokenized assets as collateral within decentralized finance. It also said those assets could become new liquidity sources for lending markets.
Tokenized Assets Drive Standard Chartered’s Outlook The research note extends Standard Chartered’s existing tokenization framework into decentralized lending. The bank said tokenized real-world assets could create new borrowing activity across onchain platforms. Under that view, Aave could serve as a venue for loans backed by tokenized assets.
Kendrick linked the forecast to broader growth in tokenized markets. He said tokenized assets could bring more deposits into decentralized finance protocols. In turn, those assets could increase activity on lending platforms that already hold large liquidity pools.
Standard Chartered previously projected that assets locked in decentralized finance could reach $2.7 trillion by 2030. The bank attributed that forecast to growth in tokenized real-world assets and crypto-native products. Those assets would move through blockchain-based financial protocols.
The report also referenced decentralized exchange activity tied to tokenized markets. Kendrick identified Uniswap as a potential trading venue for tokenized assets. He cited the platform’s scale, brand recognition, and operating history across several crypto market cycles.
Standard Chartered’s latest note places Aave at the center of its decentralized lending outlook. The bank said expanding tokenized asset usage could support higher protocol deposits. The report also maintained that tokenized assets may become an increasing source of collateral within DeFi markets.
Aave generated $907 million in revenue across its lending markets during 2025 and another $333 million so far in 2026 as Standard Chartered initiated research coverage of the decentralized finance protocol.
The bank’s digital assets research head Geoff Kendrick set a $3,500 price target for AAVE by the end of 2030.
The forecast implies an increase of roughly 50 times from the token’s current price near $76 and would see AAVE outperform Bitcoin and Ethereum over the period.
The $907 million figure reflects a broad measure of revenue and interest generated across Aave’s products and lending markets. It should not be confused with revenue directly retained by the Aave DAO.
Aave governance materials previously said the protocol earned more than $100 million in 2025, mostly through reserve factor fees, and entered 2026 at an annualized revenue rate of about $120 million.
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Aave has moved to capture a greater share of the revenue generated by products carrying its name.
The Aave Will Win framework directs all revenue from Aave branded products developed by Aave Labs to the DAO treasury. This includes revenue from the main interface, Aave App, Aave Card, Aave Pro and enterprise product Aave Kit.
Standard Chartered said Aave has largely recovered from the disruption caused by the April KelpDAO exploit.
Attackers used around $290 million in stolen assets as collateral on Aave to borrow other tokens, creating potential losses and prompting depositors to withdraw funds.
Kendrick said assets have started returning to the platform and that Aave remains positioned to maintain its lead in decentralized lending.
The bank expects the value of tokenized assets actively used in decentralized finance to increase 37 times by 2030.
Aave could benefit directly from that expansion because its revenue is closely tied to the amount of assets deposited and borrowed through its markets.
The protocol is also expanding through Horizon, an institutional lending market that allows qualified users to borrow stablecoins against tokenized real world assets.
Standard Chartered identified a possible restart of Aave’s token buyback program as another potential catalyst for the token.
At its peak in October 2025, Aave held roughly $75 billion in deposits. Kendrick said that level would have placed the protocol among the 30 largest banks in the United States by deposits.
AAVE was last trading near $76, up about 5% on the day.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Aave’s fourth-generation lending protocol just crossed a milestone that took its predecessor months longer to hit. Deposits on Aave v4’s Ethereum deployment have climbed to roughly $200 million, effectively doubling from around $100 million just one month earlier.
Active loans sit at approximately $60 million. For a protocol that only went live on March 30, 2026, that’s a trajectory worth paying attention to.
From $25M to $200M in under three months By early May 2026, deposits had already jumped from roughly $25 million to over $50 million. Then came another doubling to $100 million. And now, $200 million.
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The governance side has kept pace with the capital inflows. On May 4, 2026, the Aave DAO approved v4 activation with near-unanimous support.
Aave v4 introduced what the team calls a “hub-and-spoke” design. Instead of one monolithic lending pool where all assets mingle and share risk, v4 segments liquidity into distinct hubs, each with its own risk parameters. The initial launch included three Liquidity Hubs labeled Core, Prime, and Plus.
The utilization gap tells its own story Aave v4’s utilization rates currently hover between 30% and 48%. That’s notably lower than Aave v3, which has historically operated at higher utilization levels across its mature markets.
Aave Labs has taken a deliberately conservative approach to v4’s rollout, favoring security over speed. It’s also worth noting that v4 runs alongside v3 rather than replacing it. Users can choose which version to interact with, and many borrowers with existing v3 positions have little incentive to migrate until v4 offers materially better rates or capabilities.
Real-world assets enter the frame Aave v4 has signaled intentions to support tokenized real-world assets, though without rushing to scale aggressively in that direction. The modular hub structure makes this feasible, as a dedicated hub for RWAs could operate with parameters suited to the risk profile of those assets, separate from the more volatile crypto-native markets, without requiring a protocol-level overhaul.
What this means for investors The current 30% to 48% utilization range is the number to watch. If borrowing demand catches up to deposit growth over the coming months, it would drive fee revenue higher. If utilization stays flat while deposits keep climbing, the protocol is accumulating idle capital, which is not favorable for token holders looking for fundamental value accrual.
New smart contract architectures carry inherent technical risk regardless of audit coverage. The phased rollout and conservative parameters mitigate this, but they don’t eliminate it. V4 is still a young protocol operating in parallel with its battle-tested predecessor, and the borrowing side of the equation hasn’t yet caught up to the lending side.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Standard Chartered has identified the growing trend of tokenization in decentralized finance as a major opportunity for Aave. According to a newly published research note from the bank, broader adoption of tokenized assets could help boost deposits on the protocol and stimulate lending activity within its ecosystem.
Expectations for easing market pressuresGeoff Kendrick, global head of digital asset research at Standard Chartered, highlighted that despite recent pressures, Aave remains the largest protocol in decentralized lending. The research note pointed to both the recent weakness in cryptocurrency prices and the KelpDAO-related event in April as factors affecting the protocol’s recent performance.
The bank stated that the $292 million KelpDAO incident contributed to lower activity on Aave during the relevant period. These developments, according to Standard Chartered, also weighed on the protocol’s lending market share.
Mini glossary: Tokenization refers to the representation of traditional assets, such as stocks, bonds, fund shares, or real estate, as digital tokens on a blockchain. The term “real-world assets” is often used to describe these types of financial instruments that originate outside blockchain networks.
Geoff Kendrick explained that the impact of low asset prices and the negative consequences of the KelpDAO incident appear to be fading. He further indicated that the bank expects digital asset prices to rise towards the end of the year.
In line with this assessment, Standard Chartered expects operating conditions for Aave to improve once again. The research note emphasized that following recent disruptions, the platform is entering a more favorable environment.
Aave’s $75 billion deposit base stands outStandard Chartered also compared Aave’s deposit scale to that of traditional banks. Kendrick noted that as of October 2025, the protocol’s deposit base had reached approximately $75 billion. Judged solely on deposit volume, this would place Aave among the top 30 largest banks in the United States.
The bank believes this scale could be regained—and even surpassed—in the future. The report added that growing use of tokenized assets as collateral in decentralized finance could unlock new sources of liquidity.
Tokenized assets could drive new flows to AaveThe research builds on Standard Chartered’s earlier tokenization frameworks, now applied to decentralized lending. The bank sees tokenized real-world assets fueling new lending demand on on-chain platforms. In this context, Aave emerges as a leading protocol for loans backed by such assets.
Kendrick further stated that overall growth in the tokenized asset market may help decentralized finance protocols attract more deposits. Lending platforms with large liquidity pools, he noted, are especially well-positioned to benefit from this trend.
Standard Chartered previously forecast that total value locked in decentralized finance could reach $2.7 trillion by 2030, based on anticipated growth in tokenized real-world assets and crypto-native products.
The same report also discussed the implications for decentralized exchanges linked to tokenized asset markets. Kendrick cited Uniswap as a standout platform in this space, thanks to its scale, market recognition, and track record across various market cycles.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.
TL;DR Standard Chartered coverage has reportedly put Aave back in the institutional DeFi conversation. The key theme is whether real-world assets and stablecoin liquidity can drive a new phase of lending protocol growth. The article frames the call cautiously because the full analyst note is not fully public. Aave Gets A TradFi Research Spotlight Aave is receiving fresh attention after Standard Chartered reportedly initiated coverage around the DeFi lending protocol, adding another traditional finance voice to a sector that spent the past cycle trying to prove it can move beyond speculative yield. The call matters because bank research coverage does not automatically change on-chain fundamentals, but it can influence how wealth desks, institutional investors and corporate strategy teams talk about DeFi.
The broad argument is straightforward: if stablecoins and tokenized real-world assets continue to grow, lending markets need deep, liquid venues where collateral can be priced, borrowed against and managed. Aave already sits near the center of that market structure. It has survived multiple market cycles, built a large liquidity base and remained one of the better-known names in decentralized lending.
Why RWAs Change The Conversation The institutional DeFi thesis is no longer only about traders borrowing against volatile crypto collateral. Increasingly, the market is watching whether tokenized treasuries, fund shares, private credit and stablecoin settlement can feed into lending markets. That is where the Aave discussion becomes more interesting. If real-world assets become larger on-chain collateral pools, lending protocols could start to look less like niche crypto apps and more like programmable credit infrastructure.
That does not mean the transition is simple. RWAs bring legal, custody, pricing and liquidation questions that are very different from ETH or wrapped Bitcoin collateral. Lending protocols must also satisfy institutional risk teams that care about governance, oracle design, smart-contract risk, regulatory treatment and counterparty exposure.
Aave’s Advantage And Its Risk Aave’s advantage is familiarity. Many crypto-native institutions already understand how the protocol works, and its governance process gives the market a visible way to track changes. But that same openness also introduces complexity. If institutional capital begins using DeFi rails in size, governance votes and risk parameter changes become more important, not less.
The strongest version of the Aave bull case is that the protocol becomes a neutral liquidity layer for a wider on-chain finance stack. The weaker version is that institutional adoption remains more narrative than volume, with most regulated capital preferring permissioned venues and private settlement systems.
A Measured Signal For DeFi The main takeaway is not that a single bank research note guarantees a DeFi boom. It is that major financial institutions are still studying lending protocols as potential infrastructure rather than treating them only as speculative crypto products. That alone is a useful signal after a difficult period for DeFi valuations.
For traders, the Aave story now sits at the intersection of tokenized assets, stablecoin liquidity and the broader market’s appetite for risk. If those flows recover, lending protocols could become one of the first places where stronger activity shows up on-chain.
This coverage is based on information from Standard Chartered.
This article was written by the News Desk and edited by Samuel Rae.
Ether falls harder than Bitcoin in a market-wide risk-off move, while Aave bucks the selloff on V4 and Grayscale tailwinds; total DeFi value drops to about $69 billion
Bitcoin slid below $60,000 and Ether fell harder still on Wednesday, as a selloff in AI and semiconductor stocks and rising bets on a Federal Reserve rate hike pushed investors out of risk assets across the board.
Bitcoin dropped about 4% over the prior 24 hours, slipping under the $60,000 level for the first time in roughly two weeks, while Ether fell about 5%, according to data from CoinGecko. The broad crypto market followed equities lower: total value locked in DeFi protocols fell to about $69.3 billion from roughly $73.2 billion a day earlier, a one-day drop of about 5%, DefiLlama data show.
A Macro-Led SelloffThe immediate trigger sat in equity markets. The Nasdaq Composite closed the prior session down about 2.2%, dragged lower by a sharp drop in semiconductor and AI-linked shares, with a closely watched chip index falling roughly 8%.
Compounding the equity weakness, traders sharply raised the odds of a Federal Reserve rate hike this year after the central bank held its target range at 3.50% to 3.75% but dropped its easing bias. Higher rates lift the dollar and raise the opportunity cost of holding non-yielding assets, a headwind for Bitcoin and Ether alike. The U.S. Dollar Index climbed to its highest level in more than a year.
Institutional flows have reinforced the pressure. U.S. spot Bitcoin ETFs have logged their largest 30-day outflow on record, with redemptions running for five straight weeks, according to figures circulated by The Kobeissi Letter. ETF redemptions force authorized participants to sell spot Bitcoin into the market, adding mechanical selling pressure on top of the macro move.
Aave Bucks the TrendAgainst a sea of red, Aave was the standout gainer among large-cap tokens, with its AAVE governance token rising about 4% over 24 hours even as the rest of the market fell, CoinGecko data show. Aave, one of the largest decentralized lending protocols with roughly $12 billion in deposits, has drawn a cluster of bullish catalysts this month.
Standard Chartered initiated coverage of Aave on Tuesday with a price target of $3,500 by end-2030, up 50x from roughly $70 today. The same week, Aave published a security audit tied to its V4 upgrade and founder Stani Kulechov outlined a proposal to bring traditional securities-finance markets onchain.
The LaggardsThe sell-off hit higher-beta large caps the hardest. Cardano's ADA token slid about 6% over 24 hours, the worst performer among major tokens, while Dogecoin's DOGE fell about 6% and Chainlink's LINK dropped roughly 5%, all underperforming Bitcoin's 4% decline, per CoinGecko. Solana's SOL and XRP each fell about 4%, roughly in line with Bitcoin, while BNB slipped about 4%.
Tron's TRX held up best among majors, falling less than 1%, and Hyperliquid's HYPE fell about 3%. None of the laggards showed a token-specific catalyst on the day; the moves tracked the broad risk-off flush rather than any protocol-level development.
LiquidationsThe decline looks orderly rather than disorderly. Liquidations across the market totaled more than $700 million over 24 hours, with the large majority hitting long positions — a sign that leverage is being flushed rather than fresh capital fleeing in panic. That leverage reset can reduce the risk of a sudden cascade lower.
The next catalysts are macro, not onchain. Traders are watching upcoming U.S. inflation data, which could reset rate-hike expectations, and any stabilization in ETF flows that would signal institutional demand returning.
In brief Standard Chartered forecasts AAVE will rise ~50x from ~$70 earlier Wednesday to $3,500 by the end of 2030. The bank believes Aave has moved past an April liquidity crunch that halved deposits, and expects the token to track a projected 37x growth in DeFi assets by 2030. The bullish case depends on unproven steps, such as Aave Horizon through new partnerships with traditional finance firms. Analysts at Standard Chartered are betting big on Aave, one of the largest lending platforms in decentralized finance (DeFi), projecting that its native token could surge nearly 50 times from current levels by the end of the decade—a forecast that arrives just months after the protocol was rattled by a major ecosystem exploit.
In a research note released Wednesday, Geoff Kendrick, the bank's global head of digital assets research, initiated coverage of Aave's token (AAVE) with a price target of $3,500 by the end of 2030—up from roughly $70 when the report was released Wednesday morning.
The bank expects the token to climb in stages, reaching $180 by the end of this year before accelerating to $600, $1,200 and $2,200 over the following three years before hitting the aforementioned projection.
AAVE hit an all-time high price above $661 back in 2021, but hasn’t come close to that mark since, despite rallying to nearly $400 in late 2024 following President Donald Trump’s reelection.
The optimism follows a rough stretch for Aave, which automates lending and borrowing without human middlemen. An April theft of $291 million from a smaller DeFi platform, KelpDAO, spilled over into Aave, impacting liquidity while spooking many DeFi users into withdrawing their assets altogether.
Deposits on the platform have roughly halved since, falling from $44 billion to $23 billion, while active loans have similarly fallen from $18 million to $9.5 billion in the same span. Aave's share of the broader lending market has slipped to 38% of deposits, Standard Chartered said, down from an average of 59% in the year before the incident.
Standard Chartered argues that the damage has largely run its course, pointing to a new risk framework proposed by Aave founder Stani Kulechov and a recent uptick in deposits from a June low. The bank's bigger bet is on the broader trajectory of decentralized finance: It forecasts that the value of tokenized assets deployed in DeFi will grow 37-fold, to $2.7 trillion, by 2030, fueled by the expansion of stablecoins, tokenized real-world assets from TradFi giants, and rising crypto prices.
Because Aave collects fees primarily through the spread between what it pays depositors and charges borrowers, the bank argues its revenue—and by extension its token price—should track that growth closely.
Still, the forecast carries substantial uncertainty. Standard Chartered itself cautions that scaling Aave's institutional lending arm, known as Aave Horizon, is "achievable but not yet proven," and hinges on partnerships with traditional finance firms that have yet to materialize at scale.
Digital asset prices also remain notoriously volatile, with Bitcoin falling to a 21-month low on Wednesday and most other major assets dipping alongside. AAVE rose above $77 earlier in the day, following the report’s release, but then gave up most of the gains as the market sputtered—but it has since topped $79, up nearly 9% on the day as Bitcoin starts to recover.
Alongside its projection of AAVE hitting $3,500 by the end of 2030, Standard Chartered’s report stated price targets of $40,000 for Ethereum (up from $1,614 as of this writing) and $500,000 for Bitcoin (currently $60,831).
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In brief Standard Chartered forecasts AAVE will rise ~50x from ~$70 earlier Wednesday to $3,500 by the end of 2030. The bank believes Aave has moved past an April liquidity crunch that halved deposits, and expects the token to track a projected 37x growth in DeFi assets by 2030. The bullish case depends on unproven steps, such as Aave Horizon through new partnerships with traditional finance firms. Analysts at Standard Chartered are betting big on Aave, one of the largest lending platforms in decentralized finance (DeFi), projecting that its native token could surge nearly 50 times from current levels by the end of the decade—a forecast that arrives just months after the protocol was rattled by a major ecosystem exploit.
In a research note released Wednesday, Geoff Kendrick, the bank's global head of digital assets research, initiated coverage of Aave's token (AAVE) with a price target of $3,500 by the end of 2030—up from roughly $70 when the report was released Wednesday morning.
The bank expects the token to climb in stages, reaching $180 by the end of this year before accelerating to $600, $1,200 and $2,200 over the following three years before hitting the aforementioned projection.
AAVE hit an all-time high price above $661 back in 2021, but hasn’t come close to that mark since, despite rallying to nearly $400 in late 2024 following President Donald Trump’s reelection.
The optimism follows a rough stretch for Aave, which automates lending and borrowing without human middlemen. An April theft of $291 million from a smaller DeFi platform, KelpDAO, spilled over into Aave, impacting liquidity while spooking many DeFi users into withdrawing their assets altogether.
Deposits on the platform have roughly halved since, falling from $44 billion to $23 billion, while active loans have similarly fallen from $18 million to $9.5 billion in the same span. Aave's share of the broader lending market has slipped to 38% of deposits, Standard Chartered said, down from an average of 59% in the year before the incident.
Standard Chartered argues that the damage has largely run its course, pointing to a new risk framework proposed by Aave founder Stani Kulechov and a recent uptick in deposits from a June low. The bank's bigger bet is on the broader trajectory of decentralized finance: It forecasts that the value of tokenized assets deployed in DeFi will grow 37-fold, to $2.7 trillion, by 2030, fueled by the expansion of stablecoins, tokenized real-world assets from TradFi giants, and rising crypto prices.
Because Aave collects fees primarily through the spread between what it pays depositors and charges borrowers, the bank argues its revenue—and by extension its token price—should track that growth closely.
Still, the forecast carries substantial uncertainty. Standard Chartered itself cautions that scaling Aave's institutional lending arm, known as Aave Horizon, is "achievable but not yet proven," and hinges on partnerships with traditional finance firms that have yet to materialize at scale.
Digital asset prices also remain notoriously volatile, with Bitcoin falling to a 21-month low on Wednesday and most other major assets dipping alongside. AAVE rose above $77 earlier in the day, following the report’s release, but then gave up most of the gains as the market sputtered—but it has since topped $79, up nearly 9% on the day as Bitcoin starts to recover.
Alongside its projection of AAVE hitting $3,500 by the end of 2030, Standard Chartered’s report stated price targets of $40,000 for Ethereum (up from $1,614 as of this writing) and $500,000 for Bitcoin (currently $60,831).
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The broader cryptocurrency market remains under intense selling pressure, with Bitcoin (BTC) back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours. Although sellers remain dominant, DeFi tokens such as Aave (AAVE) and Jupiter (JUP) show resilience and emerge as top performers in the same time period.
Crushing pressure on the crypto marketThe total crypto market cap has fallen by 54% from its October 2025 peak, erasing roughly $2.2 trillion in value over that period, as previously reported by FXStreet. Amid the declining period, total liquidations of $984 million over the last 24 hours, driven by $799 million in long liquidations, indicate firm sell-side dominance among investors.
Adding to the selling pressure, Santiment data shows the whales holding 10 to 10,000 BTC have offloaded 45,074 BTC over the past 8 days. Typically, outflows from such large wallets weigh on crypto, leading to an extended decline.
Crypto liquidation data. Source: CoinGlass
Bitcoin whales holding data. Source: SantimentBitcoin defends a key psychological supportBitcoin hovers above $60,000 at press time on Thursday, holding just above the key horizontal floor. The King Crypto maintains a bearish near-term bias while remaining capped well below the 50-day Exponential Moving Average (EMA) at $68,229 and the 200-day EMA at $78,198.
That said, the Moving Average Convergence Divergence (MACD) risks crossing below its signal line, hinting at a renewal of bearish momentum. At the same time, the Relative Strength Index (RSI) near 33 still reflects weak demand after the recent slide.
On the downside, immediate support is located at the $60,000 area, where a clear break would expose deeper losses and signal a continuation of the broader correction.
BTC/USDT daily price chart.On the topside, initial resistance appears at the 50-day EMA around $68,229, followed by the former rising trendline break near $73,636 and then the 200-day EMA at $78,198; only a sustained recovery above this layered resistance zone would ease the current downside pressure.
DeFi tokens emerge as resilient cryptoAAVE hovers above its 50-day EMA at $79.45 at press time on Thursday, following its 10% rise the previous day. From a technical perspective, the DeFi token extends a positive rebound in a falling channel pattern, maintaining its near‑term constructive bias. That said, the overhead resistance trendline near the $100 mark, followed by the 200-day EMA at $118, caps the short-term recovery phase. This configuration suggests price is building a short-term base above dynamic support but remains embedded in a broader corrective phase.
Momentum supports the recovery tone, with the RSI near 61 and MACD holding above its signal line, both hinting that buyers retain the upper hand as long as the 50-day EMA holds.
On the topside, initial resistance aligns with the long-standing downward trendline near $100, and above that, the 200-day EMA at $118 acts as a more strategic barrier, limiting any medium-term bullish extension.
AAVE/USDT daily price chart.On the downside, the 50-day EMA at $79.45 is the first meaningful support; a daily close back below this level would undermine the nascent bullish structure and expose the pair to a deeper pullback, while holding above it would keep the recovery path open toward the $100 area.
Jupiter hovers above its 200-day EMA at $0.2198, with the 50-day EMA at $0.1910 underpinning support. The DeFi token maintains a neutral-to-slightly constructive bias as price tests the longer-term average. A rising RSI near 63, a positive MACD line above zero, and a constructive histogram suggest buyers retain the initiative while this squeeze between key EMAs persists.
On the topside, immediate resistance is at the 200-day EMA around $0.2198, with a subsequent hurdle near the downtrend resistance line projected from prior highs at around $0.2498, where a decisive break would signal a more convincing bullish reversal.
JUP/USDT daily price chart.On the downside, initial support is seen at the 50-day EMA at $0.1910, and a daily close back below this level would weaken the current recovery structure and expose the recent range lows.
(The technical analysis of this story was written with the help of an AI tool.)
Aave (AAVE) extends its rally, trading above $81 on Thursday after closing above its key resistance and surging more than 10% the previous day. The bullish move is supported by improving on-chain metrics, with USDT deposits flowing back into the protocol and strengthening its lending ecosystem. In addition, rising Open Interest (OI) and positive funding rates in the derivatives market suggest traders are increasingly positioning for further upside.
Strengthening the lending ecosystemStani Kulechov, Aave's founder, posted on X on Wednesday that USDT deposits are flowing back to the protocol, with the Ethereum V3 Core market approaching $3 billion in deposits, a sharp rise since mid-June. This increase in USDT liquidity signals a bullish outlook for the Aave ecosystem and its native token, AAVE, as it strengthens the lending ecosystem, increases the protocol's borrowing capacity, and offers yield opportunities.
USDT deposits Aave V3 chart.Derivatives metrics show bullish biasOn the derivatives side, metrics support a positive outlook. Aave’s futures OI rises to $283.33 million on Thursday from $193 million on June 11 and has been continuously rising since mid-June. Increasing OI indicates new or additional money entering the market and new buying, suggesting a bullish trend.
AAVE open interest chart. Source: CoinglassIn addition, the funding rate turns positive on Tuesday, reading 0.0014% on Thursday, indicating that longs are paying shorts and suggesting bullish sentiment.
Aave funding rate chart. Source: CoinglassAave Price Forecast: AAVE could extend gains if the 50-day EMA holdsAAVE trades at $81.70 on Thursday, extending a constructive near-term bias as price holds above the 50-day Exponential Moving Average (EMA) at $79.44 and has reclaimed the former downtrend resistance line, which now offers support near $72.23.
Momentum remains favorable, with the Relative Strength Index (RSI) hovering in bullish territory around 61 and the Moving Average Convergence Divergence (MACD) line holding above its signal and zero, which suggests buyers still retain control despite significant overhead levels.
On the topside, initial resistance is at the horizontal cap near $88.73, followed by the 100-day EMA near $91.36 and then the more important 200-day EMA near $117.78, where the broader bearish structure would be challenged.
On the downside, immediate support is seen at the 50-day EMA at $79.44, ahead of the reclaimed downtrend line around $72.23 and the prior horizontal floor near $60.96, a loss of which would seriously weaken the current bullish recovery phase.
(The technical analysis of this story was written with the help of an AI tool.)
Aave climbed more than 15% in 24 hours to trade around $82.77, bucking a broad crypto selloff that dragged Bitcoin (BTC) below $60,000 for the third time in June.
While most major tokens fell in lockstep with a broader crypto leverage selloff, AAVE pushed higher on improving protocol fundamentals and fresh institutional attention.
USDT Deposits Signal Returning CapitalOn-chain data is driving some of the renewed interest. USDT deposits are flowing back into the protocol, with Aave’s Ethereum V3 Core market approaching $3 billion in stablecoin deposits.
The returning liquidity strengthens Aave’s lending capacity and improves yield opportunities for depositors, two factors that tend to attract additional capital to the Aave DeFi protocol.
Standard Chartered’s 50x Call Now in FocusThe rally comes a day after Standard Chartered initiated coverage on AAVE with a $3,500 price target by the end of 2030. The bank’s global head of digital assets research, Geoff Kendrick, described Aave as an on-chain bank. He flagged a 37-times increase in assets active in Decentralized Finance (DeFi) as the core driver.
Aave has continued to rally after the news from Standard Chartered. Image Source: BeInCrypto The Standard Chartered Aave price forecast ties most of its upside to tokenized real-world assets flowing into the protocol via Aave Horizon.
Meanwhile, Bitcoin’s brief drop below $60,000 on June 24 reflected broader risk-off pressure from AI stock and sustained ETF outflows.
AAVE’s rally through that backdrop suggests capital is selectively rotating into DeFi. This is a trend the longer-term AAVE outlook will need to sustain to validate Standard Chartered’s ambitious target.
KyberSwap today announced today its collaboration with Torus to offer an intuitive one-click wallet creation and management process using social media logins.
User-Friendly Wallet Management Comes to Kyber KyberSwap, a fast and secure non-custodial crypto exchange powered by Kyber Network, has integrated with Torus to allow users to seamlessly create a wallet directly through KyberSwap’s web interface with their Gmail or social media account.
The move comes as the DeFi segment of cryptocurrency continues to expand.
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Kyber is the 13th most significant protocol in the open finance market, with almost $4 million in total value locked at press time, according to DeFi Pulse.
Backed by Binance Labs, Coinbase Ventures, and Multicoin Capital, Torus is a simple and non-custodial gateway to the decentralized ecosystem of Web 3.0. It provides one-click social media login options such as Google, Facebook, Twitch, Discord, Reddit, and various fiat to crypto on-ramp services (including Wyre, MoonPay, and Ramp Network) in a single interface.
Using Torus does not require any browser extensions, installations or downloads.
KyberSwap Wanted to Remove Complexities Previously, KyberSwap’s services were only accessible to users who already owned an Ethereum wallet.
Integrating with Torus gives new users a better understanding of how Ethereum works. Sunny Jain, Head of Product at Kyber Network, said:
“We wanted a seamless wallet creation solution that most people will be instantly familiar with and one that abstracts all of the complexities and blockchain jargon typically associated with DApps. With these considerations, Torus was a natural choice for us.”
The tie-up could help bring new users into DeFi through a more intuitive interface on Kyber as it gears up for its Katalyst protocol upgrade. A Torus spokesperson said they were, “looking forward to mainstream and new users of DeFi to experience it for themselves.”
KyberSwap is accessible via its website and Android mobile app.
Disclosure: This article was edited by Paul de Havilland. For more information on how we create and review content, see our Editorial Policy.
Vitalik Buterin is one of the most influential people in crypto. He has amassed substantial wealth thanks to his role in creating Ethereum. We calculated his net worth.
Buterin wasn’t rich prior to creating Ethereum. His first major windfall was in 2014. That year he dropped out, at 20 years old, after receiving $100,000 through a Thiel Fellowship. From there his wealth only grew.
The crowdsale for Ethereum began in July of 2014 and raised Bitcoin worth, at the time, $18.3 million. From there, he was able to secure a six-figure salary from the Ethereum Foundation, the non-profit born out of the raise.
However, his main source of wealth is the hundreds of thousands of Ethereum tokens he was able to hold on to from the cryptocurrency’s pre-mine. This gave the foundation and its founders a little under 12 million ETH, which now represents about 11% of the circulating supply.
Though Buterin hasn’t publicly revealed his financial position, his wallet addresses and public statements are enough to get a decent estimate.
Vitalik Buterin’s Cryptocurrency Holdings Looking at his primary wallet addresses, Buterin owns about 352,000 ETH at a current value of $46 million. Between his three main wallets, he also holds ERC-20 tokens worth over $900,000.
These ERC-20s include Augur (REP), Maker (MKR), Kyber Network (KNC), and OmiseGO (OMG).
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However, he also said in February of last year that he held Bitcoin, Bitcoin Cash, Zcash, and Dogecoin worth over “10% the value of my ETH.”
Crypto Briefing calculated his Ethereum holdings on the day of his statement. Though he did not specify the precise investment in each of these coins, we gave each coin an equal allocation of 15% of the value of his ETH, adjusted by historic prices, for simplicity.
Adjusting his Ethereum holdings back to February 2019 levels, his holdings would amount to roughly 2,000 BTC, 58,000 BCH, 140,000 ZEC, and 3.6 million DOGE.
Assuming he held everything, these coins would make up 37% of his portfolio at current prices, or about $35 million.
Since then, the prices for these coins have fluctuated substantially, in line with the massive amounts of volatility in the market. At its peak in early 2018, Vitalik Buterin’s cryptocurrency portfolio was worth well over half a billion dollars.
Today, Vitalik Buterin’s cryptocurrency portfolio amounts to roughly $82 million, composed mostly of Ethereum, Bitcoin, Bitcoin Cash, Doge, and Zcash.
What is Vitalik Buterin’s Salary? Outside of his cryptocurrency holdings, Vitalik Buterin has also disclosed that he earns a six-figure salary from the Ethereum Foundation. The last time he commented about his salary he revealed he was making roughly $144,000 per year.
Though this may seem high to some, Buterin claims he was offered an even higher salary and didn’t take it. “Others in the foundation (ie. the ones who actually decided these salary numbers) offered me $185k at one point; I declined,” he said. For the executive of a multi-billion dollar enterprise this salary seems relatively modest.
Vitalik Buterin’s current salary is estimated at somewhere between $140,000 and $250,000.
Cash and Equity Holdings There’s more to the picture. Buterin also has a substantial portion of his wealth in cash. In March of 2019, in a now-deleted tweet, Buterin said that his “fiat holdings are well under $30m,” attributed to $8 million in charitable contributions he disclosed.
Looking at the rest of his finances, Crypto Briefing estimated his fiat holdings at $12 million, bringing his net worth up to $94 million.
But that isn’t all, Buterin also owns “significant corporate shareholdings” in two companies: Clearmatics and Starkware. Clearmatics is a London-based company designing protocols for DeFi while StarkWare is building privacy software using zero-knowledge proofs.
Buterin did not disclose the exact amount invested nor his equity holdings in each of the startups. To date, Clearmatics has raised $13 million and StarkWare has raised $36 million, according to Crunchbase.
Between his cryptocurrency holdings, cash, and equity, it’s possible to calculate the Ethereum co-founder’s wealth. Vitalik Buterin’s net worth is $100 million.
Disclosure: This article was edited by Mitchell Moos. For more information on how we create and review content, see our Editorial Policy.
Top five browser, Opera, has today announced a partnership with Unstoppable Domains, a blockchain-based domain startup. The integration will offer 80 million users access to the decentralized internet via the latest web 3.0 browser.
Opera Becomes the Latest Web 3.0 Browser The latest integration with the Opera browser will allow users to access blockchain-based domains. By typing “.crypto” as one would type “.com,” Opera users will now be able to access decentralized websites.
Decentralized websites are those not hosted on centralized servers like Amazon Web Services. Using services like Amazon’s, news outlets, and businesses hand off control to a third-party. The third-party then has the power to cut off access and effectively end a website.
Unstoppable Domains are, instead, supported by decentralized tools like blockchain technologies. Brad Kam, a co-founder of Unstoppable Domains, said,
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“We believe that tools like Ethereum and IPFS will create a better internet than what exists with DNS and ICANN. It’s just beginning, but this system could replace the old internet entirely.”
The latest partnership with the Opera browser may help accelerate the company’s ambitions. In integrating Unstoppable Domains with a top-five browser, over 80 million users will be exposed to decentralized websites. Kam said, “Our partnership with Opera means that users can now view a .crypto website just as easily as a .com website.”
These websites also behave as cryptocurrency wallets and allow users to make crypto payments.
As a web 3.0 browser, users can now use Opera to connect with MyEtherWallet, Coinomi, Kyber’s Dex, and even Anthony “Pomp” Pompliano’s podcast by adding a “.crypto” in place of a “.com.”
🆕️Thanks to @unstoppableweb , the KyberWidget is now hosted on IPFS, meaning it can be used by anyone, anywhere in the world! Surf the decentralized web by installing the chrome extension https://t.co/Y7PilmeEKS and easily swap between 70+ ERC20 tokens 🔄 at kyber.crypto! #DeFi https://t.co/7lT8yDtpaf
— Kyber Network (@KyberNetwork) March 26, 2020
Unstoppable Domains has been lining up various other partnerships in 2020.
On Mar. 4, the company released a Google Chrome extension to bridge users to Web 3.0. The Tim Draper-backed startup has also made it easier for users to build and host a web domain on either the Ethereum or Zillqa blockchains.
For its part, Opera has long been a crypto proponent. The browser announced an Apple Pay integration earlier this month that lets users buy cryptocurrencies like Bitcoin and Ether directly through the browser.
Disclosure: This article was edited by Liam Kelly. For more information on how we create and review content, see our Editorial Policy.
The combined trading volumes from Ethereum-based decentralized exchanges (DEXes) rose 53% to an all-time high of $668 million in March 2020. This is according to analytics from Dune.
Interest in DEXes on the rise At the time of writing, the total trading volumes from DEXs stood at slightly over $9 million, pushing weekly volumes to $70.7 million.
Combined, this is down 54% if measured as a trailing 7-days growth.
The three most active DEXes are OX, Kyber Network, and Uniswap, drawing over $6 million in USD terms.
This finding is consistent with a parallel finding from DappRadar that confirmed that Ox, Uniswap, and Kyber Network were the most active.
To be specific, OX had over $3.1 million worth of digital assets traded in the last 24 hours. This represents a market share of 33 percent, almost twice that of Kyber Network which stood at 17.7 percent.
DEX Market Share Ox, Uniswap, and Kyber Network are dominant However, the most interesting observation was the consistency of DEX trading. Over the last year, its growth has been linear and positive sloping.
For example, over the last nine months, volumes have almost doubled from $289 million of July 2019 to $668 million by the end of March.
“DEX volumes landed at an all-time high of $668 million for March! Up 53% from last ATH in February. Interestingly, it’s the first time DEX volumes are soaring on a falling ETH price.”
During this time, ETH prices fluctuated widely. After peaking in June 2019, bears took charge and forced a sell-off towards $130.
However, prices recovered in Dec 2019, rallying to around $290 before falling back to lows of $110 in March.
The growth, therefore, is amid a steep decline in ETH prices, a positive development.
Coincidentally, the drop was at the backdrop of drying liquidity in centralized exchanges.
DEX challenges and benefits Although dominant and scalable unlike DEXes, most of which are based in Ethereum and its scalability dependent on the network’s throughput, traders seem to have refrained from placing orders as asset prices took a beating from Mar 12-13.
Nonetheless, DEXes are secure than centralized versions as Binance or Coinbase. Traders have full control of their assets.
The prices of many altcoins dropped significantly post the market crash on 12 March. However, many are still optimistic that the coins will put up a good show through the course of 2020. Cardano’s Charles Hoskinson, for instance, is of the opinion that Cardano will outperform Bitcoin, Ethereum, XRP and every other blockchain in the industry by the end of 2020.
Cardano
There might be a lot of positive sentiment around Cardano, but one look at the coin’s price chart might suggest otherwise.
Cardano has been trending downwards since 13 February. The coin saw another major drop on 7 March [65% drop], a movement that continued following the market crash on 12 March. However, the coin rose up within 3 days by 64% and it has since, been maintaining the support at $0.02.
There is a symmetrical triangle pattern being formed in the above chart, a development that indicated that the price might break out in either an upward or downward direction. However, the Awesome Oscillator indicator resting above the zero line with green bars confirmed an upward breakout.
The 46th ranked coin on CoinMarketCap had a good start at the beginning of 2020. As seen in the chart above, there was an upward trend seen; however, following 12 March, the price has been on a downward run as it fell by 39% over a period of seven days. Furthermore, the Bollinger Bands appeared to be contracting, a sign that there might be lower volatility levels over the coming days.
Kyber Network’s[KNC] price has been on the rise since the end of December 2019. The network also experienced significant growth in transaction volume, and this might be the pre-effect of the major protocol upgrade scheduled for Q2 of 2020. Looking at the above price v/s volatility chart, it can be seen that the price has been rising upwards since Jan 1, although it experienced a slight glitch post the crash. The volatility levels are also low. Investors seem to be believing in the long-term potential of KNC.
Press time price:$0.434452
Market Cap: $78,163,694
24-hour Trading Volume: $28,299,657
