**RPL Jumps 62% Ahead of Rocket Pool’s Saturn One Upgrade** As per HTX market data on February 17th, RPL’s 24-hour price surge now stands at 62%, with a market cap of $62 million and a current price of $2.80. The community is dubbing Rocket Pool’s largest-ever protocol upgrade—Saturn One—a "turning point." The upgrade will go live on the Ethereum mainnet at 00:00 UTC on February 18, 2026 (8:00 AM Beijing Time / 12:00 AM UK Time). Key upgrade highlights (benefiting RPL holders and protocol growth): - **RPL Fee Switch Activates**: A portion of the protocol’s ETH revenue will now flow to RPL stakers, enabling true value capture. RPL shifts from pure governance/staking to a "dividend" model. - **Node Entry Barrier Halved**: Minimum ETH for node operators drops to 4 ETH (from 8 ETH), expected to attract more nodes and boost TVL/rETH adoption. - **Megapools Launch**: Larger pools for node operators improve capital efficiency, cut gas costs, and enable adjustable commissions. - **rETH & Inflation Updates**: Liquid staking token rETH gets an enhanced user experience; RPL inflation will gradually decrease, supporting long-term value.
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BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
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Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
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Japan and South Korea's stock markets closed higher across the board, with Japan's stock market hitting a new closing high.
According to Bitget market data, the Nikkei 225 index closed up 3,191.37 points, or 4.61%, at 72,366.34 points on Thursday, June 25, hitting a new all-time closing high. South Korea’s KOSPI index rose 459.76 points (5.43%) to end at 8,930.78 points; SK Hynix surged 13% while Samsung Electronics gained more than 5%.
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A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
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JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.
JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.
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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
Rocket Pool (RPL) price extends its gains, trading above $2.80 at the time of writing on Tuesday after rallying over 58% in the previous day. The upcoming Saturn One network upgrade on Wednesday, which introduces key improvements to the RPL network, has fueled renewed buying interest. On the technical side, bullish momentum suggests the rally may not be over yet as investors assess the impact of the upgrade.
Saturn One upgrade boosts sentimentRocket Pool announced that its Saturn One upgrade is scheduled for Wednesday at midnight UTC. This upgrade marks the most significant upgrade in the protocol’s history, introducing key improvements in scalability, capital efficiency and token economics.
Rocket Pool’s X post highlighted that Saturn One brings a range of benefits, including an RPL fee switch, 4ETH validators, MEGAPOOLS, and rETH improvements.
According to the Medium post, this upgrade will enable the RPL fee switch. This transforms RPL from an inflation-reward token to an ETH accrual token. The more RPL staked in the protocol, the more ETH it captures.
For rETH holders, the upgrade increases Rocket Pool’s capital efficiency, enabling the protocol to absorb much higher rETH demand. More node operators can join with less capital, creating more capacity for liquid stakers. In addition, the upgrade introduces 4 ETH MEGAPOOL validators. Node operators provide 4 ETH per validator, and the protocol allocates the remaining 28 ETH on behalf of rETH liquid stakers to total 32 ETH. Compared with minipools, this reduces investors’ bond requirement by half. With the same amount of ETH, investors can now run twice as many validators. This means higher commission for node operators and increased rETH minting capacity.
The network upgrade announcement has boosted investor sentiment, with Rocket Pool’s native token RPL surging more than 58% on Monday and trading at $2.80 as of Tuesday.
Rocket Pool Price Forecast: Bulls aiming for the $3.45 markRocket Pool price rallied more than 58% on Monday, closing above the 100-day Exponential Moving Average (EMA) at $2.42 that day. As of writing on Tuesday, RPL is trading at $2.80.
If RPL continues its upward trend, it could extend the rally toward the 200-day EMA at $3.45.
The Relative Strength Index (RSI) on the daily chart reads 77, above the overbought conditions, indicating strong bullish momentum. Moreover, the Moving Average Convergence Divergence (MACD) showed a bullish crossover on Saturday, further supporting the positive outlook.
RPL/USDT daily chartHowever, if RPL faces a correction, it could extend the decline toward the 100-day EMA at $2.42.
Lido DAO [LDO] has been showing price strength since the proposed buyback program in March came to an end.
At press time, the LDO price has surged over 17% in the past 24 hours, with trading volume jumping 129% to reach $100 million. Notably, activity and tightening of supply are also increasing.
Decoding LDO’s price rally Aggressive buys, as indicated by the daily trading volume spike, drove the rally. Moreover, activity and fundamentals contributed to the sentiment around LDO, leading to increased speculative trading.
Notably, the DAO has grown significantly, with Lido Finance surpassing Rocket Pool to become Ethereum’s top permissionless staking solution. The number of active validators has now surpassed 100, slightly ahead of Rocket Pool’s count.
Source: X Additionally, through a vote, the DAO passed their second buyback program proposal for LDO tokens. The plan involves acquiring LDO worth 10,000 ETH in 1,000 ETH increments.
Moreover, the Transfer Amount rose from 11.77 million LDO to 48.59 million LDO. This was more than a 4x increase in 24 hours, while Transfer Count nearly tripled from 641 to 1841. Such growth indicated growing network activity on the staking solution.
Source: Etherscan Currently, LDO is the largest permissionless staking solution for ETH in terms of the number of active validators and the ETH market cap. Its staked ETH market cap was $22.44 billion, followed by Kelp DAO and Rocket Pool at $1.62 billion and $932 million, respectively.
While most of the metrics were bullish on LDO presently, the price action did not have a defined directional bias.
Can LDO sustain the breakout? The charts showed that LDO had printed a double bottom pattern, and price action had broken above the neckline at $0.3366. The altcoin has been trading between the neckline and the bottom at around $0.2725.
Staying above the neckline would suggest a potential market structure shift, putting the $0.68 to $0.70 zone as a target for bulls. The Cumulative Volume Delta (CVD) peaked at 4.04 million LDO as of writing, which was the maximum buying pressure of the day.
However, a true shift would happen if LDO flipped the $0.33-$0.36 zone into support.
Source: LDO/USDT on TradingView The correlation with Ethereum [ETH] has increased to 0.85, indicating that as ETH approaches $2,400, LDO’s price is closely following suit.
Final Summary Lido surged 17% in the past 24 hours due to an increase in volume and the number of active validators and a buyback program. LDO price eyes $0.70, but only if bulls can keep the price above the neckline at around $0.33.
NuCypher, a decentralized encryption, access control, and key management system (KMS), serves as an encryption service for public blockchains. It offers end-to-end encrypted data sharing on public blockchains and decentralized storage solutions.
NuCypher allows users to share private data among a group of participants in general consensus networks, using proxy re-encryption (PRE) technology. According to NuCypher, this decryption technology makes it significantly more secure and protected than traditional blockchain projects based on public key encryption.
NuCypher (NU) is the native token used within the larger NuCypher network. Tokens are used to incentivize network participants to perform key management services and access authorization/revocation operations. NU tokens are also used to stake for operating a NuCypher worker node. The NuCypher network is protected against malicious activities and automatically cuts off the rewards for suspicious users.
On the other hand, NU is also used in the network to join the NuCypher DAO. The NuCypher DAO is the protocol that controls network parameters and smart contract upgrades. Users with NU stakes can also participate in the verification of DAO proposals.
Unlike most blockchain projects designed for better transactions, IoT operations, voting mechanisms, etc., NuCypher is created for other blockchains. It acts as a privacy layer for blockchains.
NuCypher provides a privacy infrastructure for the decentralized web with proxy re-encryption (PRE), threshold signatures (TSS), distributed key generation (DKG), and other threshold cryptography techniques.
Using the NuCypher network, users can conditionally grant and revoke access to data to multiple users simultaneously. NuCypher’s encryption service offers almost unparalleled security for sensitive data transfer, combining it with the trustless and censorship-resistant nature of traditional public blockchains.
NuCypher was co-founded by Mikhail Egorov (founder of Curve) and MacLane Wilkison. The technical review for NuCypher was first published in June 2017, but the test network was not released until November 2018.
Egorov previously served as NuCypher’s CTO. He is a security researcher, physicist, and scientist from the Moscow Institute of Physics and Technology.
How to Buy NuCypher Coin?NU Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume. To buy NU Coin, one must first sign up for Binance and then send fiat currency. After sending a fiat currency like US dollars, one can buy NU Coin by trading it against Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), and BUSD.
Furthermore, on Binance, users can place a buy order not only at market value but also at a lower value. For this, using the Limit tab and entering the amount and price you wish to buy at will suffice.
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.
NuCypher Coin (NU) is the native cryptocurrency of NuCypher, a privacy-focused project for blockchains.
What is NuCypher (NU)?NuCypher (NU) is a decentralized encryption service for blockchains with a cryptographic access control and key management system. NuCypher offers end-to-end encrypted data sharing on blockchains and decentralized storage solutions. The platform utilizes proxy re-encryption technology, allowing users to share private data among a set of participants within a public consensus network.
NuCypher, with its decryption technology, stands out from traditional blockchain projects based on public-key encryption by being far more secure and protective. NU is the native cryptocurrency used on the NuCypher network. NUs are used to incentivize network participants to perform key management services and contribute to authorization processes on the network.
NUs are also used for staking to operate a NuCypher node. The NuCypher network protects against malicious software and automatically slashes rewards from suspicious users. NU is used on the network to participate in the NuCypher DAO.
The NuCypher DAO is the protocol that controls the parameters and smart contract upgrades on the network. Users who hold NU can participate in the verification of DAO proposals.
Unlike most blockchain projects designed to serve various mechanisms, from better transactions to IoT operations, NuCypher is developed for other blockchains. NuCypher is a privacy layer for blockchains. The project provides a privacy infrastructure for decentralized web using proxy re-encryption and FHE technologies.
Where to Buy NU Coin?NU Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. NuCypher is traded on the Binance platform in NU/BTC, NU/BNB, NU/BUSD, and NU/USDT pairs.
To purchase NU Coin, you first need to become a member of the Binance exchange. Once the membership is complete, you should transfer cryptocurrency or fiat currency to your Binance wallet. After the transfer is completed, you can buy NU Coin in any of the four pairs mentioned above. For purchasing from the NU/USDT trading pair, first, navigate to the interface of this pair. On the NU/USDT interface, enter the desired amount in the field provided in the limit tab. After specifying the amount, the purchase is completed with the Buy NU order.
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.
Threshold Network has proposed to acquire BitGo‘s Wrapped Bitcoin (WBTC) product, offering $36.4 million worth of their native T tokens.
The move aims to transition WBTC from centralized custody to Threshold's decentralized model, merging it with their tBTC Bitcoin (BTC) bridge.
The proposal was presented by NuCypher's co-founder and Threshold contributor MacLane Wilkison and involves minting additional T tokens, equivalent to 15% of its current fully diluted supply, as a grant to BitGo.
This would make BitGo the largest stakeholder in the Threshold Network while maintaining the bridge's decentralized nature.
Moreover, the proposed acquisition would combine WBTC's $9 billion market cap and widespread adoption with tBTC's permissionless bridging mechanism. Wilkinson argues this approach better achieves BitGo's goal of multi-jurisdictional and multi-institutional custody.
If accepted, the merger would be implemented in stages. Threshold would gain merchant privileges for WBTC and gradually transfer the existing WBTC supply to decentralized custody, with deposits spread across multiple wallets to ensure security.
Should BitGo decline, Wilkison claims that the DeFi ecosystem will “require a safe and orderly offboarding of WBTC.”
In this case, the additional minting of the T token could be used to subsidize the costs of offboarding WBTC from the ecosystem and migration to alternatives like tBTC and cbBTC.
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Addressing the controversyNotably, the proposal comes following BitGo's recent announcement that it would adopt a multi-jurisdictional custody model to accelerate its global expansion plan. This would be achieved by transferring WBTC's control to a joint venture with BiT Global.
This movement raised concerns in the crypto community due to TRON founder Justin Sun‘s involvement, especially after 12,000 BTC were removed from USDD's backing. USDD is the stablecoin tied to the Tron ecosystem.
Despite BitGo's CEO Mike Belshe assuring the market that Sun would not be able to move funds, major DeFi protocols, including MakerDAO and Aave, have already taken steps to limit their exposure to WBTC.
Threshold's proposal aims to address these concerns and ensure the continued stability of WBTC in the crypto ecosystem.
Alchemix is a platform that creates yield-backed synthetic tokens that users can acquire by locking collateral within the Alchemix system.
Alchemix claims to provide an advantage to its users with its easy usage scenario. Those wanting to use Alchemix can follow these steps to easily utilize the platform:
Deposit a collateral into the Alchemix ecosystem.Up to 50% of the deposit or collateral value can be utilized as credit.The deposit earns interest over time, automatically repaying the credit.In addition, the features of the Alchemix platform can be listed as follows:
Vaults: Alchemix provides a Vault that acts as a hub for depositing and lending assets. This feature is similar to other lending platforms like AAVE and MakerDAO. The Vaults accept DAI and ETH as types of collateral.Transmuter: This feature follows the primary stabilization mechanism for synthetic tokens. The Transmuter allows all participants to use alUSD at a 1:1 ratio for DAI tokens.Farming: Alchemix also offers yield farming, rewarding farmers with ALCX tokens, which provide governance voting rights within the ecosystem.On the other hand, every DAI/ETH deposited into the Alchemix smart contract is directed to the Yearn vault, where users start earning returns immediately. Alchemix uses the yields earned from lenders’ deposits to pay off users’ debts. The longer investors hold their deposits, the more returns they will earn, and thus, more credit will be repaid over time.
ALCX tokens are used as governance tokens. Users start earning Voting Points (VP) the moment they deposit ALCX into the Alchemix DAO. The longer they hold their staking and the more ALCX they deposit, the more VP they will earn. When a vote occurs, users can choose to use any amount of their voting points.
Additionally, in March 2021, Alchemix completed a financing round of $4.9 million led by CMS, Alameda Research, and Immutable Capital. Other investors include Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, and Orthogonal Capital.
How to Buy Alchemix Coin?ALCX Coin can be quickly and securely purchased via Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy ALCX Coin, you must first register with Binance and then send fiat currency such as Turkish Lira or dollars. After the fiat transfer, purchase Bitcoin (BTC), Tether (USDT), and BUSD to trade in the ALCX pair.
In addition, on Binance, users can place an order to buy at a price lower than the market price. For this, you need to use the Limit tab and enter the amount and price you want to buy.
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.
Alchemix Coin (ALCX) is the native cryptocurrency of the Alchemix platform, which is designed to create synthetic tokens.
What is Alchemix (ALCX)?Alchemix is a platform built to create yield-backed synthetic tokens. The requirements for creating synthetic tokens involve having an existing on-chain yield generation mechanism such as stablecoins or ERC20 tokens. This could include lending markets like Compound, AAVE, or vault-like products like yyDAI Vault or aLINK Vault. The Alchemix team is targeting stablecoins for the first synthetic token, which will be called alUSD. The plan is for alUSD to be mintable from several stablecoins, but initially, the protocol will only support DAI.
Alchemix is a system designed to create a new type of yield-backed synthetic asset. These tokens provide a powerful and novel service for DeFi users and protocols to utilize and build upon. The al-tokens have multiple pegging mechanisms. The transmutation pool, the vaults’ settlement with sub-tokens or their underlying equivalents, incentivizing pairs on AMMs, and broader adoption of al-tokens all contribute to the system. The Alchemix DAO treasury supports developers and adds value to the wider Ethereum $1,623 ecosystems.
Where to Buy ALCX Coin?ALCX Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. ALCX Coin is traded on Binance in the ALCX/BTC, ALCX/USDT, and ALCX/BUSD pairs.
To purchase ALCX, you must first sign up for an account on Binance. Once the registration is complete, you need to transfer either cryptocurrency or fiat currency to your Binance wallet. After the transfer is complete, you can buy ALCX Coin from one of the three pairs mentioned above. To buy from the ALCX/USDT pair, first go to the interface for this trading pair. In the limit section, enter the amount you wish to buy. After specifying the amount, complete the purchase by placing a buy order for ALCX.
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.
This is a summary of the Alchemix Q3 2025 Report, which can be found in full in the Alchemix GitBook. This report provides relevant data for Q3 2025, 1st July 2025 to 1st October 2025.
The third quarter of 2025 brought many developments into the crypto space and into the Alchemix world, including the following:
Alchemix experienced increases in the alETH price relative to the ETH price, as well as increases in treasury valuation, protocol revenue and solid growth of global deposits. Strong ETH price appreciation during the quarter resulted in buoyant treasury, deposit and Elixir valuations.
Alchemix has unveiled its v3 upgrade through a detailed public introduction on its official Medium blog, with enhanced efficiency and user-friendly features. This iteration builds on the protocol’s core mechanic of self-repaying loans, introducing up to 90% loan-to-value ratios while allowing collateral to continue earning yield, alongside innovative tools, such as the Mix-Yield Token, for simplified strategy management and fixed-duration redemptions to maintain peg stability for alUSD and alETH.
At the Rare Evo conference, Alchemix COO Ov3rKoalafied presented the protocol’s user-centric vision. He described how Alchemix removes complexity to make DeFi more accessible and ready for the mass market. He emphasized the protocol’s liquidation-free model, a key value proposition that continues to attract risk-averse users looking to unlock liquidity without the stress of market volatility.
Users staking alAssets on Stake DAO must migrate their positions on the official Stake DAO site to ensure rewards and compatibility with the latest gauges.
Alchemix is proud to be highlighted on the official Ethereum.org portal, cementing its status as a foundational DeFi protocol. This listing places the protocol alongside Ethereum’s most trusted applications, validating Alchemix as an approved destination for decentralized borrowing and yield management for new Ethereum users.
Cross-chain transfers of alAssets have been upgraded through a deeper LayerZero integration. LayerZero’s advanced messaging protocol results in smoother, more resilient and faster transfers across networks with reduced friction and higher throughput for users.
Marking a critical step toward launch readiness, Alchemix has announced the successful completion of its v3 security review conducted by Cantina, a leading blockchain auditing firm. This thorough audit, focused on the protocol’s core lending mechanics and new features, complements ongoing efforts such as the recent Immunefi audit competition, reinforcing user confidence in Alchemix’s commitment to robust security.
This document is not investment advice, nor should anything herein be construed as solicitation to buy or invest. This is solely for informational purposes only. The discussions in this document represent a good-faith effort to effectively summarize the information that is contained in the corresponding Quarterly Report, the disclaimer of which, including, but not limited to, discussion about forward-looking statements, also applies to this document. The numbers that are being provided below, as of 1 October 2025, as well as other information disclosed in this document, are unaudited. In an effort to effectively summarize the data, this document may contain conjectures or guesses that are the authors’ alone, and do not represent any official positions, feelings or statements of the Alchemix protocol itself.
IntroductionEstablished in February 2021, Alchemix is a DeFi lending protocol that offers Self-Repaying loans without the risk of forced liquidations. Alchemix’s value proposition is that it enables its users to access tokenized value against their deposits, while those deposits harness the power of DeFi to automatically pay down a borrower’s loan balance over time. Conceived as a new tool for people to take advantage of the time value of money, Alchemix is tested, audited and then deployed on-chain using smart contracts to provide security, transparency, immutability, and uncensorable access to all.
Q2 2025 LookbackBefore we dive into the latest updates, the previous quarter brought interesting developments into the Alchemix world, including the following:
The protocol earned approximately $780,000 in revenue for the quarter.Alchemix has received a 100,000 OP grant from Optimism to enhance yield on the Aave ETH and USDC vaults and alETH/alUSD incentives on Velodrome over six months.Sustaining the trust Alchemix has earned requires rigorous, ongoing security measures, one of which was submitting the v3 core contracts to a $50,000 USDC crowdsourced audit competition via Cantina, in addition to regular audits.Another measure was adopting the Security Alliance Whitehat Safe Harbor, which safeguards Alchemix contracts and assets by pre-authorizing ethical hacks with clear recovery and bounty protocols across chains.Continuing the security focus, Alchemix is now protected by Immunefi’s Magnus, which provides automated scanning, AI-driven threat detection, priority audits, and bug bounties.Alchemix launched Yieldmancing as an educational hub guiding users through self-repaying loans and yield strategies to promote informed DeFi navigation. This encourages DeFi literacy over speculation for the long-term benefit of users.The integration of Alchemix and HAI now lets users deposit alETH to borrow HAI stablecoins via overcollateralized vaults.The Alchemix Holyheld debit card is in beta with top-ups that enable collateral deposits to borrow and fund debit cards with self-repaying loans on Optimism.Q3 2025 TL;DR MetricsAt the end of Q3 2025, alUSD price (0.9918) had decreased slightly and alETH price (0.9799) increased compared to the previous quarter. The value of the Treasury had increased 33.4% to $16.56M, Global Deposits increased by 40.1% to $63.52M, and the value of the Elixir Contents had increased by 30.71% to $21.62M. Protocol Revenue saw an increase of 11.5% to $0.87M.
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Q3 2025 TL;DR MetricsThe Treasury figures exclude the value of ALCX, the governance token of Alchemix.Q3 2025 DataalAsset PricesThe main challenge for the protocol is to maintain a strong price for the alAssets.
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alUSD Price vs. USDCPress enter or click to view image in full size
alETH Price vs. ETHalAsset UtilityThe image below shows the tools and protocols used within the Alchemix ecosystem, many of which provide direct use-cases for alAssets.
Specific integrations and partners are discussed in the full report.
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The Alchemix EcosystemALCX Governance TokenThe governance token of the Alchemix protocol is ALCX. It allows users to influence protocol direction by voting on submitted proposals.
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ALCX Emission ScheduleAs shown on the chart, the initial high token issuance rate decreased in a linear fashion, dropping to the baseline 2200 tokens emitted per week at the 3-year mark, which was in March 2024.
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ALCX emissions are used to support the strategic goals of the protocol.
The protocol is still incentivizing single-sided staking, ALCX liquidity, and alAsset liquidity by using ALCX emissions. However, it has begun the transition to using emissions for the purpose of accumulating strategic assets.
The annualized inflation rate of ALCX is shown below and is very slowly decreasing in perpetuity:
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ALCX Supply GrowthAlchemix System ComponentsThree main components work in tandem to provide the functionality for the Alchemix system. These are the Alchemists, Transmuters and the Elixirs (AMOs).
User deposits are held by the Alchemist contracts. The Elixir and Transmuter contracts also hold a significant amount of funds which are responsible for providing a backstop for alAsset redemption. The Transmuters redeem alAssets for their underlying collateral pairs 1:1, but do this slowly, over a longer period of time.
The Elixirs, on the other hand, own a portion of the main alAsset liquidity pools and can take action to ensure that trades in their respective liquidity pools can be fulfilled at a reasonable level which is determined by governance. The Elixirs also provide a large portion of protocol revenue by farming the liquidity pool tokens.
Excess funds are being deployed in the Transmuters or in the Elixirs to provide price stability and to earn additional protocol revenue.
Elixir ContentsIn Q2 2025, the Elixirs contained $16.54M in USD equivalents. At the close of Q3 2025 USD equivalents had increased to $21.62M.
This quarter the Elixirs increased by $5.08M (+30.71%), primarily due to ETH price appreciation.
TreasuryA Treasury dashboard that highlights revenues and expenses, as well as assets and liabilities, can be found at https://alchemix-stats.com.
In Q2 2025 the treasury assets were valued at $12.41M and composed of stablecoin assets valued at $0.80M and $11.61M of other assets. By the end of Q3 2025 the treasury assets were valued at $16.56M and composed of stablecoin assets valued at $1.96M and $14.60M of other assets, which represents a 33.44% increase for the quarter. The above numbers reflect non-ALCX holdings.
Protocol RevenueThe following shows protocol revenue for Q3 2025. The revenue is denominated in the USD value of the tokens earned at the time that the tokens were claimed. Included is revenue earned by the protocol’s eight Elixir pools (alUSD-FRAXBP, alETH-frxETH, alUSD-sDOLA Elixir, Optimism Elixir, Arbitrum Elixir), the Mainnet Developer Multisig, the Optimism Multisig, the Arbitrum Multisig, the Base Multisig, and revenue earned from harvest fees on Mainnet, Optimism, Arbitrum, a Velodrome veNFT on Optimism, a RAMSES veNFT on Arbitrum and an Aerodrome veNFT on Base. This report does not yet include revenue that may be earned from other sources of income owned by the treasury’s time-lock address. Those revenues are planned to be included in future reports. This report also does not include tokens whose total revenue was less than $1,000 for the quarter.
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Protocol RevenueDeposit MetricsThis section provides numbers for user activity in the protocol’s contracts. All data is for Q3 of 2025.
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Mainnet Stablecoin DepositsPress enter or click to view image in full size
Mainnet ETH DepositsPress enter or click to view image in full size
Optimism Stablecoin DepositsPress enter or click to view image in full size
Optimism ETH DepositsPress enter or click to view image in full size
Arbitrum Stablecoin DepositsPress enter or click to view image in full size
Arbitrum ETH DepositsNet Deposits at Quarter EndAt the end of Q2 2025 net deposits consisted of Mainnet stablecoins $5.61M, Mainnet ETH $34.60M, Optimism deposits of $4.81M and Arbitrum deposits of $0.33M.
Q3 2025 net deposits consisted of Mainnet stablecoins $5.26M, Mainnet ETH $51.38M, Optimism deposits of $6.01M and Arbitrum deposits of $0.87M.
At the end of Q3 2025, net deposits on Alchemix were $63.52M, an increase of 40.1% on the previous quarter.
Binance VIP borrowing will remove TUSD and ALCX from the list of available collateral assets.
PANews reported on March 13 that, according to an official announcement, Binance is continuously monitoring the market and regulatory environment and adjusting its services accordingly. Starting from 08:00 (UTC+8) on March 30, 2026, Binance will remove TrueUSD (TUSD) and Alchemix (ALCX) from its list of eligible collateral.
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Binance announced on March 13 that its VIP Loans service will remove TrueUSD (TUSD) and Alchemix (ALCX) from its eligible collateral list starting at 8:00 AM UTC+8 on March 30.
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PANews reported on April 11 that Web3 security platform Immunefi announced on its X platform that DeFi protocol Alchemix has relaunched its bug bounty program on its platform based on its latest v3 contract, with a maximum reward of $300,000. This program aims to encourage security researchers to review the new version of the contract code, discover potential vulnerabilities in advance, and improve the overall security of the protocol.
April 29: PeckShield monitoring shows a user’s Alchemix Yearn yvVault position (yvWETH token) was exploited, with estimated losses of ~$1 million. The victim had previously approved an unverified contract (address: 0x143a) — deployed 10 days prior — that contained an arbitrary call vulnerability attackers could exploit. The attacker leveraged this flaw to siphon the victim’s yvVault position.
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PANews reported on April 29 that, according to PANews monitoring, a victim lost approximately $1 million in Alchemix Yearn yvVault positions (yvWETH) due to an unverified contract (address starting with 0x143a) that they had previously approved. The contract, created 10 days prior, was found to contain a vulnerability that could be exploited to execute arbitrary calls.
Alchemix, one of DeFi's OG protocols, recently shipped its biggest rework yet.
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One of the first DeFi projects I ever wrote about in 2021 was Alchemix.
That spring, Alchemix had just unveiled its V1 protocol and alUSD, a synthetic stablecoin you could mint-and-borrow and that would automatically work to pay back your debt via yield farming.
This was, of course, the first money lego of its kind in DeFi, and I remember having my mind blown at the concept of self-repaying loans. And now, 5 years later, it's been cool to see how Alchemix has continued to work on improving this model ever since.
The next era of Alchemy has arrived.
Alchemix v3 caps are raised, and Transmuters are open.
After years of building on what we learned from v2, today we open up 90% LTV vaults, new Mix-Yield Tokens, and the Fixed-Duration Transmuter.
The future we envisioned, starts here. 🧵 pic.twitter.com/jjIqWaQ6ka
— Alchemix (@AlchemixFi) May 4, 2026 The latest milestone here is Alchemix v3, which went fully live this May and is the biggest rework of the original idea to date.
The pitch is still the one that hooked me in 2021, i.e. borrow against your deposit and let yield quietly clear the balance, but the v3 plumbing underneath is expanded and more capital-efficient.
The big ideasIf you're new to Alchemix, the basic loop is simple. You deposit ETH or USDC, you borrow a synthetic version of it (alETH or alUSD) against that collateral, and your deposit earns yield in the background that steadily pays down what you owe.
There's no interest rate, and crucially, no price-based liquidations, so for example a dip in ETH won't get your position force-closed because your debt and collateral move together.
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What has changed in v3 is mostly how your collateral earns and how the debt gets repaid. Three pieces are the main pillars here:
The Mix Yield Token (MYT): Rather than parking your deposit in a single place, v3 wraps it in the MYT, a basket of strategies (built on Morpho's Vaults V2) that the Alchemix DAO curates and rebalances. If one strategy stumbles, the basket spreads the hit instead of concentrating it. You can also just hold the MYT for passive yield without ever borrowing if that's all you want.90% LTV: v3 lets you borrow up to 90% of your collateral's value, which is basically 2x as efficient as what was possible in the V2 protocol. More of your capital is freed up to actually use, in other words.The Transmuter: This is now a fixed-term bond market. You can deposit alUSD or alETH, lock it for a set period, and redeem 1:1 for the underlying (via MYT) at maturity. If an alAsset is trading below $1 on the open market, buying it cheap and locking it in becomes a fixed-rate yield play, and that arbitrage helps keep the peg tight.All that said, you still have the same self-repaying loan possibilities I first got inspired by in 2021, just with a sturdier onchain engine bolted underneath.
How to try the V3There's no need to reinvent the wheel here because Alchemix's own docs already cleanly lay out all the ways to dive in with step-by-step guides. If you want to try the new protocol, the specific walkthroughs for the three main things to explore are as follows:
Earn passive yield: Mixed Yield tutorialLock in fixed returns: Fixed Yield tutorialTake a self-repaying loan: Borrowing tutorialBasically, you'd connect a wallet on Ethereum, Arbitrum, or OP Mainnet, deposit ETH or USDC to mint MYT, and from there either sit on the yield or borrow against it, etc. The alchemix.fi/dashboard page will show your live LTV against a health bar, so you always know where you stand.
Some risk considerationsLiquidations in v3 aren't triggered by price swings, but they can happen if a yield strategy inside the MYT takes a real loss, so maintaining a conservative LTV is your friend (the DAO caps higher-risk strategies, which gives you a basis for picking a safe number).
That said, alAssets can also trade slightly below peg, which is an upfront cost when you borrow and sell. And crosschain bridging back to mainnet is rate-limited, so be sure to double check liquidity before fully diving in and building up a big multichain position.
On the security front, v3 ships with audits from several top firms and an active Immunefi bug bounty, a stark contrast from the "no audits yet" caveat I noted when I first wrote about Alchemix's V1 yield farms back in 2021. This is encouraging, but always do your own research too.
My grand takeaway here is that the self-repaying loan was a wild idea 5 years ago, and it's now a much more refined piece of DeFi machinery thanks to Alchemix v3. This is a slick one to explore in my opinion, so give it a look if you're hunting for new DeFi things to try.
The LUNC price has dived by over 45% from its highest point this week, a move that has erased millions of dollars in market value.
Summary
Terra Luna Classic token has crashed by over 45% from this week’s high. The crash happened as investors reacted to Do Kwon’s sentencing. A judge sentenced the crypto mogul to 15 years in prison. Terra Luna Classic (LUNC) token dropped to a low of $0.00004587, its lowest level since Dec. 5. It remains ~85% above its lowest level this month, making it one of the best-performing tokens in the crypto market this week.
LUNC’s crash has coincided with the ongoing drop in other similar tokens like Terra (LUNA) and USTC, which have erased millions of dollars in value.
Terra Luna Classic token has dropped after a judge sentenced Do Kwon to 15 years in prison, longer than the five years that his defense had requested.
It was also longer than the 12 years that government prosecutors had recommended, citing the losses suffered by its holders, who lost over $40 billion.
At its peak, Terra operated two tokens, all of which collapsed in 2022, a move that accelerated the crypto crash that happened during the year. It was also a key cause of the FTX collapse during that year.
After the collapse, the community members took over LUNC and USTC, as Do Kwon and his team launched Terra 2.0, which he hoped would help stage a comeback, a move that has stalled since his legal issues emerged.
LUNC still has a vibrant community that constantly votes on proposals, with the ultimate goal being its recovery. It is also widely supported by Binance, the biggest crypto exchange in the world, which burns millions of Terra Classic tokens a month.
LUNC price technical analysis Terra Luna Classic price chart |Source: crypto.news The daily timeframe chart shows that the LUNC price jumped from this month’s low of $0.00002488 on Dec. 1 to a high of $0.00008055 on 6th. The rally happened ahead of Do Kwon’s sentencing.
LUNC token has now plunged as investors sell the news now that the sentence has happened. It has moved below the important support level at $0.000047, which was the neckline of the double-top pattern.
Therefore, the most likely LUNC price forecast is bearish, with the next key support level being at $0.00002488, its lowest level this month, which is ~45% below the current level. A move above below that level will point to more downside in the near term.
The cryptocurrency markets continue to experience significant fluctuations, drawing attention to the latest developments surrounding Terra Luna Classic (LUNC). Following the sentencing of Do Kwon, a notable decline in LUNC’s price occurred, which reignited discussions about the project’s ecosystem. Nevertheless, the token remains a standout asset in the market by maintaining a strong performance compared to its lowest point earlier in the month.
The Impact of Do Kwon’s Sentence on LUNCTerra Luna Classic recently plummeted to $0.00004587, marking its lowest value since December 5th. Despite this downturn, LUNC is trading approximately 85% above its monthly low, ranking among the best-performing tokens of the week. However, the decline did not stop with LUNC, as similar tokens like Terra and USTC also faced multi-million-dollar losses in value.
One of the primary reasons behind this sharp price movement is the 15-year prison sentence handed to Terra’s founder, Do Kwon. This decision exceeded both the defense’s request for five years and the prosecutors’ proposal for 12 years. The court cited the investors’ losses exceeding $40 billion due to the collapse of the Terra ecosystem as a fundamental reason for the ruling. Terra’s collapse in 2022 triggered a significant chain reaction affecting not only LUNC and UST but the entire crypto market. This process is often cited as a contributing factor to the acceleration of the FTX crisis the same year.
Technical Analysis and Community DynamicsTechnically, the daily charts reveal a swift rise in LUNC from its low of $0.00002488 on December 1st to $0.00008055 on December 6th. This surge occurred due to expectation-driven purchases before Do Kwon’s sentencing announcement. Afterward, investors reacted with a “sell the news” strategy, reducing positions and pushing the price below the critical support level of $0.000047. This level also garners attention as the neckline of a double top formation.
Analysts view the current outlook as indicative of continued short-term pressure. The next strong support is the month’s low of $0.00002488. However, the presence of an active community, ongoing governance votes, and Binance‘s monthly token burns suggest that long-term hopes are far from extinguished. Meanwhile, in a different sector development, the increasing staking demand on the Ethereum $1,623 network and a shift toward Layer-2 projects indicate a gradual redirection of investor interest toward alternative ecosystems.
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.
LUNC News: Terraform Labs bankruptcy administrator has filed a lawsuit against quant trading firm Jane Street, alleging insider trading and front-running that contributed to the 2022 Terra-LUNA crisis.
The case expands the list of entities including Jump Trading sued for the TerraUSD (UST) algorithmic stablecoin depeg that erased $40 billion in market value and contributed to broader crypto turmoil, including the FTX collapse.
Terraform Labs Administrator Files Lawsuit Against Jane Street In major LUNC news today, the Office of the Terraform Labs Plan Administrator has filed a lawsuit against Jane Street, alleging insider trading, market manipulation, and deceptive trading practices that contributed to the May 2022 collapse of Terraform Labs.
Todd Snyder, Terraform Labs’ liquidation administrator, also accuses Jane Street co-founder Robert Granieri, and employees including Bryce Pratt and Michael Hwang, according to the WSJ report.
The case details how Jane Street allegedly traded on non-public information, executed a concentrated $85 million UST sale minutes after a confidential liquidity withdrawal, and avoided substantial losses while investors suffered billions in damages.
The suit alleges that Jane Street obtained insider information about Terraform Labs’ internal liquidity decisions, including withdrawals from pools. The firm positioned trades to front-run these moves, profiting while worsening the peg for TerraUSD (now USTC) algorithmic stablecoin.
“Jane Street abused market relationships to rig the market in its favor during one of the most consequential events in crypto history,” Snyder said.
Terra Money claims the lawsuit seeks to recover damages for creditors and hold Jane Street accountable for exploiting the ecosystem and intensifying the Terra-LUNA crisis.
The Office of the Terraform Labs Plan Administrator has filed a lawsuit against Jane Street, alleging insider trading, market manipulation, and deceptive trading practices that contributed to the May 2022 collapse of Terraform Labs.
The complaint details how Jane Street…
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) February 24, 2026
Terra Community Reactions on the News and LUNC Price The broader Terra community hailed the decision by Terraform Labs bankruptcy administrator to file a lawsuit against Jane Street. In May 2022, TerraUSD (UST) depeg and (now LUNC) crash caused many people to lose their life savings and even commit suicide.
Some in the LUNC community said “things are about to get interesting” and “good news” as the crisis wiped out billions for investors and caused Terraform Labs to ultimately file for bankruptcy in 2024.
The development follows the administrator’s lawsuit against Jump Trading for $4 billion over alleged manipulation and insider deals tied to the collapse. The Jane Street case could further test insider liability rules in the decentralized market, with the CLARITY Act still under discussion.
At the time of writing, LUNC price is trading almost 0.50% higher at $$0.0000345. The 24-hour low and high are $0.0000342 and $0.0000351, respectively. Meanwhile, USTC is up more than 1% at $0.00474, wavering amid selling pressure in the broader crypto market.
Terra Luna Classic (LUNC) is seeing a strong price surge today, climbing around 24% to a high near $0.00004905 as traders rush back into the token. The sharp rally comes even as the broader crypto market remains flat, with Bitcoin hovering near $67,000.
The sudden rally has caught traders’ attention. But what exactly is pushing LUNC higher today?
Massive LUNC Token Burns Reduce SupplyOne of the biggest reasons behind today’s rally is large token burns. According to the Luna burn metrics, around 32 million LUNC tokens were burned today. This brings the total weekly burn to about 224.46 million tokens.
So far, about 85.58 billion LUNC tokens have been burned. That is nearly 19% of the total supply.
However, community-driven burns have been a key mechanism for restoring confidence in LUNC since its collapse in 2022.
Beyond the big burns today, LUNC also saw a sharp rise in trading activity. Its 24-hour trading volume surged 466%, reaching around $74.3 million,
Legal Action Against Jane Street Adds Attention Back to TerraAnother reason for the recent surge is fresh discussion about Terra’s past collapse. Reports say the SEC has started investigating Jane Street over possible market manipulation in stocks and crypto products.
The lawsuit alleges that the trading firm used insider information to front-run positions and intentionally trigger the depegging of TerraUSD on May 7, 2022. That collapse erased nearly $40 billion from the crypto market.
Some members of the LUNC community now believe the Terra crash may not have been only an internal failure, but possibly the result of an external attack.
At the same time, more people online are discussing Do Kwon. Some believe he made mistakes but did not plan a scam.
Despite today’s strong moves, LUNC remains far 100% below its historical peak of $117.
Story Ends Here
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In brief Terra Luna Classic (LUNC) has jumped double digits on the day, up nearly 30% over the past two weeks. Open interest jumped from $100M to $160M as futures CVD signaled short-squeeze dynamics. Bitget's Lee says the legal narrative, not fundamentals, is driving renewed market attention. Terra Luna Classic (LUNC) has jumped double-digits over the past day, in a late reaction to this week’s lawsuit filed by Terraform Labs' bankruptcy administrator against trading firm Jane Street.
LUNC surged 15.5% over the past 24 hours and is up nearly 30% over the past two weeks, according to CoinGecko data. The sudden uptick was driven by spot buyers, with derivatives data showing open interest climbing from $100 million to $160 million, per Velo data. As the rally accelerated, futures' cumulative volume delta plummeted—a signature sign of a short squeeze in play.
The move has “thrust one of crypto's most infamous collapses back into the spotlight,” Ryan Lee, chief analyst at Bitget, told Decrypt, with traders betting that legal developments could shift market perception or potentially unlock value for legacy holders.
The Jane Street lawsuitThe catalyst traces back to Monday, when Terraform Labs' bankruptcy administrator filed a federal lawsuit in Manhattan alleging that Jane Street used non-public information to execute profitable trades that accelerated the historic 2022 collapse of TerraUSD and LUNA. The lawsuit claims the trading contributed to approximately $40 billion in losses.
The legal narrative has galvanized interest in LUNC, Lee said, adding that it has “reignited trader sentiment around accountability and potential compensation.”
He noted that some traders are positioning on the belief that positive developments in the case could shift market perception or unlock value for legacy holders. “Headlines about alleged insider trading and renewed scrutiny of one of the sector's largest historic losses have been correlated with short-term spikes in trading activity and price interest,” Lee said.
If spot-buying activity continues without the price dropping, the rally has a good chance of extending higher. However, Lee cautioned that the ultimate legal outcome remains uncertain.
“If the lawsuit progresses or generates clarity, it may continue to influence sentiment,” he added. “Conversely, any setbacks or dismissals could temper enthusiasm and re-expose LUNC to broader macro pressures.”
LUNC’s jump comes amid a broader crypto market bounce that has brushed off pessimism among traders—at least in the short-term. Users on prediction market Myriad, owned by Decrypt’s parent company Dastan, put a 42% chance on Bitcoin rallying to $84,000 rather than dumping to $55,000, up from lows of 27% on Tuesday.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Terra Luna Classic (LUNC) has jumped double digits on the day, up nearly 30% over the past two weeks. Open interest jumped from $100M to $160M as futures CVD signaled short-squeeze dynamics. Bitget's Lee says the legal narrative, not fundamentals, is driving renewed market attention. Terra Luna Classic (LUNC) has jumped double-digits over the past day, in a late reaction to this week’s lawsuit filed by Terraform Labs' bankruptcy administrator against trading firm Jane Street.
LUNC surged 15.5% over the past 24 hours and is up nearly 30% over the past two weeks, according to CoinGecko data. The sudden uptick was driven by spot buyers, with derivatives data showing open interest climbing from $100 million to $160 million, per Velo data. As the rally accelerated, futures' cumulative volume delta plummeted—a signature sign of a short squeeze in play.
The move has “thrust one of crypto's most infamous collapses back into the spotlight,” Ryan Lee, chief analyst at Bitget, told Decrypt, with traders betting that legal developments could shift market perception or potentially unlock value for legacy holders.
The Jane Street lawsuitThe catalyst traces back to Monday, when Terraform Labs' bankruptcy administrator filed a federal lawsuit in Manhattan alleging that Jane Street used non-public information to execute profitable trades that accelerated the historic 2022 collapse of TerraUSD and LUNA. The lawsuit claims the trading contributed to approximately $40 billion in losses.
The legal narrative has galvanized interest in LUNC, Lee said, adding that it has “reignited trader sentiment around accountability and potential compensation.”
He noted that some traders are positioning on the belief that positive developments in the case could shift market perception or unlock value for legacy holders. “Headlines about alleged insider trading and renewed scrutiny of one of the sector's largest historic losses have been correlated with short-term spikes in trading activity and price interest,” Lee said.
If spot-buying activity continues without the price dropping, the rally has a good chance of extending higher. However, Lee cautioned that the ultimate legal outcome remains uncertain.
“If the lawsuit progresses or generates clarity, it may continue to influence sentiment,” he added. “Conversely, any setbacks or dismissals could temper enthusiasm and re-expose LUNC to broader macro pressures.”
LUNC’s jump comes amid a broader crypto market bounce that has brushed off pessimism among traders—at least in the short-term. Users on prediction market Myriad, owned by Decrypt’s parent company Dastan, put a 42% chance on Bitcoin rallying to $84,000 rather than dumping to $55,000, up from lows of 27% on Tuesday.
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A powerful impulse has lifted Terra Luna Classic [LUNC] to $0.00004419, marking a 21.84% surge in just 24 hours, at press time, while trading volume has simultaneously exploded 382.87% to $61.34 million.
This sharp alignment between price appreciation and liquidity expansion signals aggressive capital rotation rather than passive drift. Buyers step in with urgency, pushing candles to expand with conviction instead of hesitation.
Market capitalization stood at $241.55 million, reflecting renewed speculative appetite. However, such vertical participation spikes often compress decision timeframes.
As liquidity clusters around key levels, volatility tends to intensify, forcing the market to quickly reveal whether this thrust represents a structural transition or short-lived enthusiasm.
Has LUNC reclaimed structural control? After weeks of compression within lower highs, the price has broken out of its descending channel.
The move follows a rounded base formation near $0.00003260. Buyers then reclaimed $0.00003800 with conviction, shifting the short‑term structure upward.
Price is now approaching the neckline resistance around $0.00004620, a level that previously capped recovery attempts
This level defines the immediate battleground. If buyers maintain strength above the broken channel, structural control tilts bullish. However, rejection near the neckline could reintroduce overhead pressure.
The breakout candle shows strong body expansion rather than upper-wick exhaustion, which signals continuation intent. Therefore, this zone determines whether recovery evolves into a sustained trend reversal.
At the time of writing, the RSI has climbed to 71.68, pushing firmly above the 70 threshold. The indicator accelerates sharply from mid-range levels, reflecting intensified upside strength.
Unlike gradual climbs, this vertical push indicates aggressive participation. However, readings above 70 also introduce short-term exhaustion risk.
Overbought conditions do not immediately signal reversal, yet they often coincide with temporary cooling phases. The oscillator’s steep angle reinforces urgency within the move.
Source: TradingView Order flow diverges as retail crowds in Despite the breakout, the 90-day Spot as well as futures Taker CVD still reflect sell dominance. This signals that aggressive market orders have not fully flipped toward sustained buy control.
Price rises while taker aggression lags, creating a developing divergence. At the same time, retail trading frequency spikes into “too many retail” territory.
Smaller participants rush into the rally, increasing crowd density. Historically, similar setups amplify volatility rather than stability.
If institutional-scale buyers do not reinforce the move, the price may encounter friction near resistance.
However, if the Taker Buy Dominance begins to expand, divergence would resolve constructively. Therefore, order flow alignment remains critical for durability.
Source: CryptoQuant Leverage floods back into LUNC At press time, Open Interest (OI) surged 71.85% to $9.82 million, signaling aggressive derivatives expansion. Traders deploy fresh leveraged capital rather than merely closing shorts.
This sharp increase reflects speculative conviction entering alongside price strength. Elevated OI amplifies directional moves but also raises liquidation risk.
If price sustains above the reclaimed structure, leveraged longs may continue pressing upside. However, crowded leverage near resistance could trigger swift volatility swings.
The speed of OI expansion highlights intensity rather than gradual positioning. Therefore, derivatives participation now plays a decisive role in shaping the short-term trajectory.
Source: CoinGlass Conclusively, LUNC has established a credible breakout structure supported by volume expansion and RSI strength.
However, order flow divergence and crowded retail participation introduce instability near the neckline resistance.
If buyers secure acceptance above $0.00004620 while taker dominance flips positive, continuation becomes likely. Otherwise, volatility may spike before trend clarity emerges.
Final Summary LUNC shows structural breakout strength, yet order flow alignment must confirm sustained bullish continuation ahead. Expanding leverage and retail crowding could accelerate upside, but also amplify sudden volatility shifts rapidly.
Jane Street has once again made headlines after recently dismissing claims of the Terraform insider-trading lawsuit. However, the latest update of the leading Wall Street market maker is not about the legal development but its earnings.
As per the latest updates, the revenue of Jane Street hit a record of $40 billion last year. The robust number suggests that it has already surpassed almost all the big banks on Wall Street.
Jane Street Hits Robust Revenue of $40 Billion The leading Wall Street market maker, Jane Street, has made its name in the top tier of global finance. According to a latest report by Bloomberg, citing people familiar with the matter, the firm has recorded nearly $40 billion in annual trading revenue.
This has helped the firm in outpacing most of the largest financial institutions on Wall Street. In addition, the $39.6 billion in annual revenue also marks a major milestone for the firm.
Meanwhile, the report showed that most of the gains have come in the final quarter of the last year. Jane Street has pulled in $15.5 billion only in the fourth quarter of 2025, which has sparked optimism, given the volatile scenario recorded in the broader financial market.
In addition, the latest performance has also placed Jane Street ahead of the banking giant JPMorgan Chase & Co. The report stated that its full-year revenue has surpassed JPMorgan’s by around 11% on an annual basis.
Simultaneously, the firm was also among the investors’ radar recently, after it dismissed claims of Terraform insider-trading allegations.
Jane Street Dismisses Terraform Insider Trading Allegations In a separate report, Bloomberg said that Jane Street has recently filed to dismiss a lawsuit that accuses it of profiting from insider information during the collapse of Terraform Labs.
For context, the case was initiated by Todd Snyder, who is overseeing the firm’s wind-down. Notably, the lawsuit has accused Jane Street, its co-founder Robert Granieri, and two employees of executing illicit transactions.
The lawsuit noted that transactions would not have been possible without insider information about the failure of the Terraform ecosystem four years ago.
However, Jane Street has refuted the claims in its latest filing on Thursday. In its motion to dismiss, the firm said that the trading activity took place only after the information was made available to the public domain, which makes the insider-trading claims vague.
In addition, it also highlighted a major transaction of 85 million UST, which was made ten minutes after the key information entered the public domain.
Terra Luna Classic [LUNC] surged 18.29% in 24 hours as trading volume jumped over 363% at press time, reflecting a sharp influx of market participation and aggressive trader positioning. This rise in activity showed that buyers stepped in with strong conviction rather than weak follow-through.
As a result, the rally did not emerge in isolation but aligned with a surge in both spot and derivative interest. However, such rapid volume expansion often signals speculative inflows rather than stable accumulation.
While price strength reflected growing interest, the pace of the move raised concerns about sustainability if participation failed to remain consistent across sessions.
Can LUNC break past key resistance levels? Price advanced from the $0.00045 support zone and pushed toward the $0.00058–$0.00062 resistance range, where previous rejection had occurred. This upward move followed weeks of consolidation, indicating that buyers had started to regain control over structure.
As the LUNC price approached this resistance, it tested a critical supply zone that had historically capped upward movement. However, rejection wicks near this region showed that sellers remained active. If buyers sustained pressure above $0.00062, the structure would likely shift toward continuation.
Otherwise, failure to break through could result in another rejection toward the lower range boundaries.
At the time of writing, MACD crossed above the signal line, while histogram bars turned green and continued expanding, signaling strengthening bullish pressure. This shift confirmed that buying interest had increased following a period of muted activity.
Source: TradingView Are outflows quietly supporting the rally? Spot Netflows dropped to -$293.78K as of writing, showing that tokens moved off exchanges rather than into them. This outflow suggested that holders had opted to retain assets instead of preparing to sell. As a result, immediate sell-side pressure decreased, supporting the ongoing price recovery.
However, the scale of outflows remained relatively modest compared to previous spikes, indicating that accumulation had not reached extreme levels. If this trend continued, it would provide a stronger base for sustained upside. Otherwise, weakening outflows could reduce support and expose prices to renewed selling pressure.
Source: CoinGlass LUNC liquidations spike: Warning for bulls? Liquidation data revealed a clear imbalance, with long liquidations reaching $23.24K compared to $9.5K in short liquidations. This difference showed that bullish traders faced heavier losses during recent volatility. As price moved higher, leveraged longs appeared overexposed and vulnerable to sharp reversals.
Such a dynamic suggested that part of the rally had relied on unstable positioning rather than strong underlying demand. If price fails to hold above resistance, further long liquidations could amplify downside pressure.
However, if spot demand absorbed this leverage, the market would likely stabilize and support continued upside movement.
Source: CoinGlass To sum up, LUNC’s rally showed strong participation, but underlying signals remained mixed. While price strength and outflows supported the move, liquidation imbalance pointed to fragile positioning.
If buyers maintained control above resistance, continuation would likely follow. Otherwise, rejection would expose the market to further downside pressure driven by leveraged instability.
Final Summary LUNC rally showed strong participation, but liquidation imbalance revealed fragile bullish positioning underneath. Outflows supported price stability, though resistance pressure would likely decide continuation or rejection.
This week the Terra Classic (LUNC) price spiked, generating considerable attention in the wider cryptocurrency community.
The LUNC as climbed 12% in the last 24 hours and is trading around $0.0000750 in active hours. LUNC has gained over 60% in the past week, reflecting a new buying trend.
The coin has also shown strong monthly growth, with a gain of nearly 100% and top market performance.
The broader market also saw gains, with a 1.31% increase to a market capitalisation of $2.55 trillion. The wider gain was part of a macro-driven “relief” trend on news of a U.S.-Iran ceasefire.
Bitcoin price remained above $76,000, showing stability following recent fluctuations. Ethereum was trading around $2,260 and XRP price traded at $1.37.
Here’s Why Terra LUNC Price Has Been Surging Recently Recent surges in token burns across the Terra Classic ecosystem have given the cryptocurrency further impetus. Just under 630 million LUNC tokens were burned in the past three days, reducing the available supply.
This continued supply crunch is driving the demand and price growth. The other focus has been on the monthly burn by Binance on May 1.
The size of the burn is anticipated to be greater given the heightened trading activity in April. The company continues to burn tokens using proceeds from its spot and margin trading fees.
Source: Coinglass data Derivatives trading volume on major exchanges has also been increasing to support the rally. CoinGlass data shows that LUNC open interest increased to $37.85 million during the rally. This reflects the renewed interest in speculations and positioning by short-term traders.
LUNC Gains Momentum as Network Upgrade and SEC Settlement Shape Outlook The community is also looking to the Terra Classic v4.0.1 network upgrade proposal currently under voting. This is until May 6 and will improve the network’s performance and address earlier network problems. Sentiment has also been influenced by other legal moves by Terraform Labs.
The company has settled with the U.S. Securities and Exchange Commission and is moving forward with bankruptcy burns. This might help expedite the shift to a community-led governance structure.
The development of the network continues to provide additional support for the price movement.
Looking ahead, there are prospects for the return of Galaxy Station and potential exchange listings in the future.
How High Can Terra Classic Price Go? At the time of writing, the LUNC price surged at $0.0000746, and is still rising following a strong run over the past few days.
The Relative Strength Index (RSI) is still around 70 which is strong but approaching overbought levels. The Chaikin Money Flow is also positive, which means there is considerable money flowing into the token.
Source: Tradingview The next resistance will probably be at $0.000080 and the upper trendline. If the price of Terra Classic keeps rising, it will hit the next resistance at $0.0000900. A further rise could bring the price to the psychological level of $0.00010. The support is at the lower trendline of the channel, $0.000070. If it fails, it may pull back towards $0.000060.
The crypto market is showing strong upward momentum, with Bitcoin hitting $80,000 and several altcoins such as Ethereum, XRP, Dogecoin, Zcash, and Terra Luna Classic (LUNC) posting notable gains today.
The Crypto Fear & Greed Index improved to neutral sentiment on rising CLARITY Act odds, robust ETF inflows, and early bull market predictions by analysts have triggered a rally.
Bitcoin Hits 80,000 amid Short Liquidations in XRP, Dogecoin, Zcash, and LUNC Bitcoin surpassed the key $80,000 level to hit a high of $80,596, rising almost 3% over the past 24 hours. It is supported by a massive 114% rise in trading volume.
The total crypto market cap climbed almost 2% amid institutional demand and strong spot Bitcoin ETFs inflows of around $630 million on the last trading day to signal renewed investor confidence.
White House crypto adviser Patrick Witt signaled advances for a long-awaited CLARITY Act, with lawmakers eyeing a markup in May following a stablecoin yield compromise.
According to a Reuters report on May 4, President Trump said the US will help stranded ships leave the Strait of Hormuz. Easing geopolitical tensions has reduced selling pressure and encouraged short squeezes.
The crypto market recorded over $302 million in short liquidations today. Bitcoin, Dogecoin, XRP, Zcash, and Terra Luna Classic (LUNC) saw massive liquidations. According to CoinGlass data, nearly 110K traders were liquidated, with a total liquidation of $370 million in 24 hours.
Top Experts Predict Further Upside Bitcoin retraces to trade at $79,845 after profit booking in the last few hours. The 24-hour low and high are $78,281 and $80,596, respectively. However, experts signal further upside in Bitcoin and broader crypto market.
Cypherpunk and Blockstream CEO Adam Back put the spotlight on BTC 200-week moving average surpassing $60K. On the weekly chart, Bitcoin flashes bottom signals as it continues to hold above the 10-year ascending trendline, which historically suggested the bottom.
As CoinGape reported earlier, Grayscale Research signaled Bitcoin bottomed in the $65,000-$70,000 range. The Bitcoin Bull Index also turned neutral for the first time in six months, per CryptoQuant research head Julio Moreno.
BIT (formely Matrixport) said investors make more returns by investing when sentiment is negative. The firm added that sentiment is high but still has room to run. BIT predicts further upside as long as the Greed & Fear Index trend higher.
10x Research said “Bitcoin just triggered the first of our bull market signals, and the medium-term technical picture is improving faster than most realize.” Two consecutive months of positive returns, rising ETF inflows, and funding rates point to a market with significant room to run.
However, Bitcoin options are flashing a slight warning, while Ethereum options are telling a more cautious story. Moreover, a divided Fed, overbought equity markets, and the US-Iran peace talks risks could impact the bullish thesis.
Bitcoin Flashes First Bull Market Signal. Source: 10x Research Dogecoin jumped more than 4% to extend the weekly rally to over 15%. It benefits from broader crypto market strength and X cashtags for Dogecoin, XRP and other crypto assets.
XRP reclaims $1.41 amid positive ETF flows, CLARITY Act markup hopes, and huge whale accumulations. As CoinGape reported earlier, XRP poised for a rally as on-chain data indicated supply shock on Binance.
Zcash (ZEC) and LUNC are recording massive rallies in the last few days, with Terra Luna Classic skyrocketed 60% over the past week. Endorsements from Grayscale’s Barry Silbert and Arthur Hayes’ $400 prediction for Zcash triggered further rebound.
Terra Luna Classic (LUNC) rocketed more than 7% today, currently trading at $0.0000924. Binance’s LUNC token burn, Software upgrade v4.0.1, and community-driven volatility continue to fuel positive sentiment.
LUNC Breakout Above Multiple Moving Averages If you’re looking to buy the dip in the crypto market across both centralized and decentralized lending models, check out our Best Crypto Loan Platforms of 2026 recommendations list.
Terra Luna Classic News: Jane Street used a private Telegram channel to receive insider information from Terraform Labs employees, according to an unsealed court filing. TFL administrators accused Jane Street of insider trading to sell its entire UST position before the depeg and making profits by shorting tokens during the $40 billion Terra-LUNA crash.
Jane Street and Terraform Labs Insiders Used Telegram Channel to Dump UST Todd R. Snyder, the court-appointed Terraform Labs bankruptcy administrator, has filed a detailed redacted complaint in the Southern District of New York Court, accusing quant trading firm Jane Street.
It also sued co-founder Robert Granieri, and employees Bryce Pratt, a former Terraform intern, and Michael Huang for insider trading, fraud, and market manipulation that allegedly contributed to the Terra-LUNA crash.
The news court filing builds on earlier allegations and seeks disgorgement of profits, damages, and other remedies on behalf of Terraform’s estates, Luna Foundation Guard (LFG), and individual victims.
The complaint revealed that Jane Street used confidential connections to Terraform insiders and a private Telegram messaging group dubbed “Bryce’s Secret” to obtain insider information. The group is named after defendant Bryce Pratt, a former Terraform intern who later joined Jane Street as a systems developer.
Plaintiffs allege Jane Street used this and other backchannels to obtain non-public information about Terraform’s assets, strategies, liquidity needs, and potential investments.
This allegedly allowed the firm to sold $192 million in UST (now USTC), causing the algorithmic stablecoin to depeg. The firm also profited around $134 million by shorting Terra-related assets during the crash.
Terra Luna Classic Rise Amid Filing News Terraform Labs administrator quoted that “Jane Street made a killing on these trades.” He claimed such accurate trades are practically impossible without the inside information. The firm is also alleged to cover its tracks by deleting traces of a linked crypto wallet, which has not been accessed since May 2022.
LUNC price jumped more than 2% amid Jane Street insider trading news, currently trading at $0.0000768. The 24-hour low and high are $0.0000754 and $0.0000784, respectively.
Trading volume has decreased by 2% over the past 24 hours. Notably, Terra Luna Classic has dropped 37% in May after an almost 250% rally in a month.
Meanwhile, USTC price has also jumped almost 5% to $0.0063 in the last 24 hours. It climbed from $0.0060 intraday low to a high of and high $0.0064 amid a 44% rise in trading volume over the last 24 hours.
Terra Luna Classic [LUNC] has rallied 9.22% in the previous 24 hours, with a 195% increase in its daily trading volume, according to CoinMarketCap data.
Speculative interest was blossoming, too. At press time, Coinalyze showed a 15% increase in Open Interest, a sign that traders were willing to bet on continued LUNC gains.
The altcoin also offered a stark contrast to the wider crypto market trends. Bitcoin [BTC] and Ethereum [ETH] were down 1.12% and 0.43%, respectively, highlighting LUNC’s relative strength.
Why is LUNC going up today? Social media sentiment behind LUNC appeared to be turning bullish because of the burn rates and staking amounts. In a post on X, a community channel drew attention to a 24-hour burn of 82,446,600 LUNC. This amounted to 0.0013% of the total supply.
Over the past week, the burn tracker counted a 367,070,050 LUNC burn, or 0.005%, with another 13.81% of the total supply staked. While these metrics looked encouraging, the price action was a far more compelling argument.
Source: LUNC/USDT on TradingView The $0.000072 resistance level had been in place from July 2025 to April 2026. It was breached earlier in May, and the breakout reached a local high of $0.000123 before retracing. The price of LUNC has been up in the past few days because of a bullish reaction from this former resistance, now converted to support.
Moreover, the Fibonacci retracement levels showed that the $0.0000688 was quite close to the highlighted horizontal support level, adding to its strength as a bullish base.
The technical indicators showed upward potential. The RSI had remained above neutral 50 during the retracement and has climbed higher following the bounce, showing momentum favored the buyers.
At the same time, the CMF climbed to +0.07, back above the +0.05 threshold that signals a sizeable capital inflow to the market. This demand could keep the uptrend going.
The $0.000123 and the 23.6% extension level beyond it at $0.000143 are the next bullish LUNC targets.
Final Summary Terra Classic rallied nearly 10% in the past 24 hours with a 195% increase in daily trading volume and a 15% spike in Open Interest, signaling bullish confidence. The $0.000072 area had been a multi-month resistance zone but had been converted to support earlier in May, leading to the past week’s gains.
Pedro wipes the sleep from his eyes, kisses his wife on the cheek, and rolls over to pick up his phone to check on his Luna Classic validators. In the real world, he's waking up for his job as the head brewer at a beerhouse. But in the virtual one, he's known as Vegas, one of the leading voices in the Terra Luna Classic community.
Terra Luna Classic is the blockchain that was forked and abandoned when Terraform Labs founder Do Kwon attempted to save his crumbling empire in 2022. Kwon has since been convicted of fraud and sentenced to 15 years in prison over the $40 billion collapse of Terra. But the network he and his company created—decentralized as it is—lives on, with the support of individuals from around the world who have poured significant amounts of time and money into the project.
Vegas told Decrypt he had approximately $50,000 invested in Terra at the time of its collapse, subsequently finding himself at ground zero when efforts began to salvage the project.
Nowadays, as he walks downstairs in the morning, phone in hand, he checks in on the Terra developer group chat, then his emails for any exploit concerns, and then scrolls through the community Telegram and Discord chats while making himself breakfast. Most days, in the morning or while at work, Vegas will act as a point of contact for community members who have support requests or for developers who need help with proposals.
"In the middle of this, I have to fight all of the drama that is all over Twitter," the Portuguese-born Vegas told Decrypt, calling it a 24-hour, seven-day-a-week job. "If you ask my wife, she will say that I'm crazy, but no. I think there's still hope on the chain. I think there's massive potential for this chain to be a top 10 chain again."
Despite his dedication, Vegas isn't without his detractors. When Decrypt joined the Terra Classic Telegram group to speak with Vegas, we received several DMs accusing Vegas of being a scammer himself. Vegas says it comes with the territory—the perils of decentralization and internal power struggles, even within a group that has suffered one of the worst collapses in crypto’s short history.
"Decentralization is amazing, but at the same time, it is cruel because people want to take the spotlight," Vegas told Decrypt. "I've had physical problems in my real life with people calling the police to my house, to my work, and some other stuff … horrible, horrible times."
Where did this all begin?When Terra collapsed back in 2022, the price of the LUNA token was in free fall, the network's native stablecoin UST had depegged, and Do Kwon made his now infamous “steady lads” call on social media to rally his believers.
In a last-ditch effort, Terraform Labs hard forked the network to remove the depegged algorithmic stablecoin UST, leaving behind the original chain with the new name of Terra Luna Classic—much like Ethereum Classic.
Deploying more capital - steady lads
— Do Kwon 🌕 (@stablekwon) May 9, 2022
With its creators abandoning the original Terra Luna chain, a group of community members called the Terra Rebels started to congregate on Discord. In the short term, the Discord channel doubled as a support network with pseudonymous moderator “K_raucks” creating a suicide help line of sorts.
"A lot of people needed someone to talk to. And it's anonymous on these spaces, so we allowed the space for them to express these feelings," K_raucks told Decrypt. "It's hard when people have lost everything."
The community's first step to rebuilding the chain was proposal 3568, which introduced a 1.2% burn tax on all transactions of Terra Luna Classic, which trades as LUNC. The hope was that it would help boost demand for LUNC and therefore boost its price. The proposal was authored by Vegas and was the source of his first criticism from detractors, who claim it was just a marketing move.
The Terra Rebels continued through the summer and autumn of 2022, attempting to rebuild the chain. Things then came to a head in December when the Terra Rebels received $150,000 from the community pool to separate the Rebel Station wallet's infrastructure from Terraform Labs. This caused community uproar and accusations that the Terra Rebels were trying to centralize power on the chain, and the group disbanded.
Tensions within the LUNC community then flared.
"The situation is simple to explain: If you see someone who you think is winning money and profiting from the chain, you want their position. And you will do every single thing to make their life very, very, very messy," Vegas said.
As a result of the messy politics, Vegas explained, many developers have left Terra Luna Classic over the years.
Amidst this power struggle, the community continued to build. One of these projects includes lending protocol Juris Protocol, which aims to be an Anchor protocol alternative but without the "ponzinomics," its founder Puya Eghtessadi told Decrypt. Others have released meme coins, crypto games, and have formulated plans to repeg the chain's stablecoins.
The community's efforts have seen some modest success, with the price LUNC gaining 17.3% over the past year, per CoinGecko data. The token, however, has fallen 28.7% since proposal 3568 was first introduced in 2022 and is down 99.99% from its all-time high of $119.
While Vegas lies in bed at night dreaming that LUNC will regain its top 10 status one day, many others within the community feel like they've found a family, bonded through trauma—and price action is secondary. And like many families, it's dysfunctional.
"There is a sense of camaraderie, people are going through or have gone through traumatic [events], but you still have this common goal," K_raucks told Decrypt. "What if we can pull off one of the greatest comebacks ever? It's the freaking Hail Mary."
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June 6. Even after Terraform Labs founder Do Kwon got handed a 15-year prison sentence for triggering the $40 billion Terra collapse, the original, abandoned Terra Luna Classic (LUNC) chain hasn’t vanished. A core group of community members is still keeping the network running, holding out hope for one of the biggest comebacks in crypto history. According to reports, a key LUNC community member going by the name “Vegas” lost roughly $50,000 in the 2022 Terra meltdown. Since then, he’s stayed busy running validator nodes, voting on governance proposals, and coordinating with developer teams. He says despite years of infighting, fraud allegations, and even being falsely reported to regulators, he’s convinced LUNC has what it takes to claw its way back into crypto’s top 10 by market cap. After the 2022 Terra collapse, Terraform Labs hard-forked to launch a new Terra chain—while the original chain was kept around and rebranded as Terra Luna Classic. Soon after, the community group Terra Rebels took over network upkeep and rolled out a bunch of initiatives, like a 1.2% burn tax, to try and jumpstart the ecosystem. But fights over funding and governance led to Terra Rebels breaking up, with dozens of developers jumping ship one by one. Even so, the community is still pushing forward with projects like lending protocols, games, and meme coins, plus efforts to bring back the stablecoin peg. Data shows LUNC is up 17.3% over the last year, but it’s down 28.7% since 2022—meaning it’s plummeted 99.99% from its all-time peak of $119. Some LUNC supporters say the shared grief of the collapse has created a tight, family-like bond—so price isn’t the only thing they care about anymore. “What if we pulled off one of the biggest comebacks in crypto history? This feels like a last-ditch Hail Mary,” another community member added.
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BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
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Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
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Japan and South Korea's stock markets closed higher across the board, with Japan's stock market hitting a new closing high.
According to Bitget market data, the Nikkei 225 index closed up 3,191.37 points, or 4.61%, at 72,366.34 points on Thursday, June 25, hitting a new all-time closing high. South Korea’s KOSPI index rose 459.76 points (5.43%) to end at 8,930.78 points; SK Hynix surged 13% while Samsung Electronics gained more than 5%.
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A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
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JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.
JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.
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Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
Bitcoin (BTC) has beaten nearly all of the top 100 altcoins since 2020, and chart data now points to almost 50% more downside for the broad altcoin market.
The total altcoin market cap, tracked as TOTAL2, trades near $864 billion after a steep weekly drop. Two charts explain why the pressure could continue.
Bitcoin Beat the 2020 Top 100 Altcoins by a Wide MarginThe first chart indexes the 2020 top 100 coins to a value of 100. It prices Bitcoin in US dollars and each altcoin in Bitcoin terms.
From that base, the BTC line climbed toward 1,000 on a logarithmic scale. Most altcoins, instead, fell from 100 to 10, 1, or lower. That gap means many former leaders lost 90% to 99% of their value against Bitcoin. Terra Luna Classic (LUNC) marked the most extreme collapse on the chart.
The framing matters because it measures opportunity cost. Holding most altcoins meant underperforming a simple Bitcoin position for more than five years. The chart also shows why coin selection rarely helped. Even well-known projects struggled to hold value once measured against Bitcoin.
BTC vs TOP100 coins since 2020. Source: RedditA few names held near the starting line. However, the broad set shows years of losses for holders who skipped BTC and chose these survivors instead.
The current downturn has not reversed the trend. Bitcoin trades near $61,228, down about 2% on the day and roughly 44% over the past year. Meanwhile, altcoins have fallen harder. Over the past 30 days, BTC dropped about 24% while Ethereum (ETH) lost roughly 31%.
Total Market Cap Points to $436 Billion by JulyThe second chart shows TOTAL2 on a weekly timeframe with three cycle peaks. The most recent top printed at $1.77 trillion.
History gives two reference declines. The 2018 bear market fell 92% over 49 weeks, while the 2021 to 2022 drop fell 75% over 31 weeks.
Those moves average about 40 weeks in duration. Applying the more recent 75% decline to the $1.77 trillion, the top projects point to a bottom near $436 billion.
TOTAL2 currently sits at $864.73 billion, below the $942.62 billion level it just lost. The green support shelf near $494.05 billion held the prior cycle low.
A move to $436 billion would break that shelf and retest the $427.57 billion bottom from 2022. That target implies nearly 50% more downside from current prices.
TOTAL2 weekly chart. Source: TradingviewThe timing lines up with mid-July 2026, roughly 40 weeks from the peak. Rising Bitcoin dominance remains the main catalyst pulling capital away from altcoins.
Past cycles do not guarantee future outcomes. Spot Bitcoin exchange-traded fund flows, and broader macro conditions could shorten or deepen the move.
A weekly reclaim of $942.62 billion would weaken this bearish case. Until then, the structure favors lower prices and a delayed altseason.
Since Saturday, the 6th of June, Bitcoin has climbed 8.10% from a low of $59,500 to $64,318. The $64k area was a short-term supply zone.
But it is unclear if the bulls can flip it to support and continue their advance.
On the other hand, the altcoin market was up a slightly more modest 6.24% since last Saturday, but both Bitcoin and TOTAL2, which tracks the altcoin market capitalization, were in long-term downtrends.
By comparison, Terra Classic [LUNC] was up by 34% since last Saturday’s low. With a market cap of only $405.8 million, it can be argued that it requires less capital to move LUNC prices.
Another factor that helped explain the relatively stronger LUNC gains was the higher timeframe price structure. AMBCrypto reported that the Terra Classic trend was bullish after its rally to new highs in early May.
It had retraced to $0.000062 by the 6th of June, just above the $0.000054 level that was the 78.6% Fibonacci retracement. The developments since then have reinforced a bullish outlook on the price front.
LUNC bulls conquer local resistance zone, driving another 10% bounce Source: LUNC/USDT on TradingView The $0.0000688 area (cyan) had been a local resistance zone a week ago but has since been breached and retested as support. The subsequent price bounce has reached $0.000075.
This zone had been a support in mid-May and was likely to serve as resistance now.
Based on the higher timeframe LUNC trend, a rally to $0.0001-$0.000123 can be expected. Yet, traders should remain wary.
Sustained capital inflows are needed to drive a recovery. However, since the 7th of June, the spot trading volume on Binance has been falling.
A price bounce, even from key levels, on weak trading volume raised suspicion about bullish strength. A Bitcoin selloff can hurt LUNC’s progress, so traders should keep an eye on the leader’s trends, too.
Final Summary The Terra Classic bullish performance over the past week could be just the start of another upward impulse move. A stabilizing Bitcoin would aid LUNC’s bullish chances, but a BTC sell-off could leave a huge dent on the altcoin’s sentiment.
Crypto analyst Ali Martinez has voiced concerns about how Strategy’s STRC preferred stock is structured as it has a feedback loop. He believes it could further strain the company’s finances if Bitcoin experiences a long period of decline. His comments come as Strategy keeps relying on capital market products to fuel its Bitcoin accumulation spree.
Strategy’s STRC Structure Compared To Traditional Bonds Martinez says the distinction is in how STRC reacts in times of market pressure. Standard corporate bonds have predetermined interest rates, and investors suffer losses as the bond values drop. Meanwhile, the interest rate obligations stay the same for the bond issuers.
In contrast, STRC has an adjustable dividend mechanism to assist in maintaining its market value. If the Bitcoin price is in a downward trend and investor demand is dropping, Martinez said that Strategy might have to raise payouts to draw buyers and to keep the STRC price from falling.
This scenario may increase the company’s financing expenses while the price of Bitcoin is dropping.
STRC Depicts Similarity To Terra-Luna’s Downward Spiral To highlight the similarities between the May 2022 crash of the Terra token (LUNA) and STRC’s recent drop, Martinez presented a chart. The graph revealed that LUNA has dropped by 99.95% during the crisis, while the STRC price has fallen 17.45% since its launch.
Strategy’s STRC vs. Terra Luna chart. Source: Ali Martinez | X Further, Strategy’s STRC structure has some conceptual similarities to what caused Terra-Luna’s collapse in 2022, Martinez said. He said that Strategy is quite different from Terra, and doesn’t have algorithmic tokens, but it can become a lot more cumbersome when it is in stress.
“It is conceptually similar to the Terra/Luna collapse,” Martinez wrote.
If Bitcoin price falls, it may mean that more cash will have to be allocated toward STRC to stabilize it around the $100 par. He cautioned that such a situation could create what he described as a “dangerous loop” in which falling asset values are accompanied by rising financial obligations
“While MicroStrategy isn’t printing tokens out of thin air, both systems use a mechanism that forces the issuer to take on more financial burden as things get worse,” he said.
The analyst added that “instead of acting as a safety net, the structure risks amplifying the pressure during a market downturn.”
For those looking to swap crypto, visit our page on Crypto Swapping Sites.
Panama City, Panama, February 5th, 2024, Chainwire
The Taraxa Protocol Foundation has launched a $10 million Grant Program to drive growth in Taraxa’s unique EVM-compatible blockDAG Layer-1 ecosystem, after an overwhelmingly successful on-chain governance approval.
The Taraxa Grant Program is open to any individual, team, and organizations of any type. Funds will be granted specifically for technical development with an emphasis on driving usage and growth within the Taraxa ecosystem, and are disbursed according to quantifiable milestones.
Building on Taraxa presents a unique opportunity for developers to experience the benefits of the world’s first and only native EVM-compatible decentralized network built with the blockDAG architecture. Here are just a few of the reasons why builders should consider building the next big idea on Taraxa,
An unique opportunity to Build on blockDAG: blockDAG is the next evolutionary step up from block-chain, able to achieve stunning throughput and low latency without sacrificing security and decentralization by enabling parallel block processing on the network instead of just one block at a time. True EVM Compatibility: any dApp that works on Ethereum just works on Taraxa, no need to learn new languages, frameworks, or tooling. Fast & Low-Cost: with peak throughput of 5k TPS, sub-second block times, instant block inclusion, and under 4-second finalization, working on Taraxa is fast & smooth, with each transaction costing next to nothing. True Finality: zero risk of transactions being reversed, Taraxa’s True Finality guarantees that when a transaction is finalized (under 4 seconds), it is finalized forever. Front-Running Prevention: Taraxa’s architecture and speed minimize and fragment the network’s mem pool, making it almost impossible and definitively unprofitable for DeFi transactions to be targeted for front-running. Supportive Community: Taraxa’s community is highly engaged and the development team is helpful to a fault. Not only will the user be building on a network backed by the best technology in the world, but he will also receive the full support, attention, and participation from Taraxa’s community! The upcoming Ficus Root Bridge in mid-2024 further strengthens the Taraxa ecosystem’s utility, asset diversity, and cross-chain liquidity. DeFi builders don’t have to worry about fragmented assets or liquidity, since they flow seamlessly between Ethereum and Taraxa. The bridge, coupled with Taraxa’s fast, low-cost and natively EVM-compatibility, make Taraxa a natural Layer-2 solution for dApps or consensus layer for rollups.
Developers can apply to the Taraxa Grant Program today and pitch their ideas on how to creatively leverage decentralization to solve problems!
About Taraxa
Founded by two Stanford engineers in 2018, Taraxa is an EVM-compatible smart contract platform based on t-Graph consensus utilizing blockDAG, with many world-first technical innovations on top of the blockDAG architecture. After launching its mainnet in 2023, Taraxa represents the next evolutionary step in decentralized networks.
[PRESS RELEASE – Panama City, Panama, February 5th, 2024]
The Taraxa Protocol Foundation has launched a $10 million Grant Program to drive growth in Taraxa’s unique EVM-compatible blockDAG Layer-1 ecosystem, after an overwhelmingly successful on-chain governance approval.
The Taraxa Grant Program is open to any individual, team, and organizations of any type. Funds will be granted specifically for technical development with an emphasis on driving usage and growth within the Taraxa ecosystem, and are disbursed according to quantifiable milestones.
Building on Taraxa presents a unique opportunity for developers to experience the benefits of the world’s first and only native EVM-compatible decentralized network built with the blockDAG architecture. Here are just a few of the reasons why builders should consider building the next big idea on Taraxa,
An unique opportunity to Build on blockDAG: blockDAG is the next evolutionary step up from block-chain, able to achieve stunning throughput and low latency without sacrificing security and decentralization by enabling parallel block processing on the network instead of just one block at a time. True EVM Compatibility: any dApp that works on Ethereum just works on Taraxa, no need to learn new languages, frameworks, or tooling. Fast & Low-Cost: with peak throughput of 5k TPS, sub-second block times, instant block inclusion, and under 4-second finalization, working on Taraxa is fast & smooth, with each transaction costing next to nothing. True Finality: zero risk of transactions being reversed, Taraxa’s True Finality guarantees that when a transaction is finalized (under 4 seconds), it is finalized forever. Front-Running Prevention: Taraxa’s architecture and speed minimize and fragment the network’s mem pool, making it almost impossible and definitively unprofitable for DeFi transactions to be targeted for front-running. Supportive Community: Taraxa’s community is highly engaged and the development team is helpful to a fault. Not only will the user be building on a network backed by the best technology in the world, but he will also receive the full support, attention, and participation from Taraxa’s community! The upcoming Ficus Root Bridge in mid-2024 further strengthens the Taraxa ecosystem’s utility, asset diversity, and cross-chain liquidity. DeFi builders don’t have to worry about fragmented assets or liquidity, since they flow seamlessly between Ethereum and Taraxa. The bridge, coupled with Taraxa’s fast, low-cost and natively EVM-compatibility, make Taraxa a natural Layer-2 solution for dApps or consensus layer for rollups.
Developers can apply to the Taraxa Grant Program today and pitch their ideas on how to creatively leverage decentralization to solve problems!
About Taraxa Founded by two Stanford engineers in 2018, Taraxa is an EVM-compatible smart contract platform based on t-Graph consensus utilizing blockDAG, with many world-first technical innovations on top of the blockDAG architecture. After launching its mainnet in 2023, Taraxa represents the next evolutionary step in decentralized networks.
The Taraxa Protocol Foundation has launched a $10 million grant program to drive growth in Taraxa’s unique EVM-compatible BlockDAG layer one ecosystem after an overwhelmingly successful on-chain governance approval. The Taraxa grant program is open to any individual, team and organizations of any type.
Funds will be granted specifically for technical development with an emphasis on driving usage and growth within the Taraxa ecosystem and are disbursed according to quantifiable milestones.
Building on Taraxa presents a unique opportunity for developers to experience the benefits of the world’s first and only native EVM-compatible decentralized network built with the BlockDAG architecture.
Here are just a few of the reasons why builders should consider building the next big idea on Taraxa.
A unique opportunity to build on BlockDAG – BlockDAG is the next evolutionary step up from blockchain, able to achieve stunning throughput and low latency without sacrificing security and decentralization by enabling parallel block processing on the network instead of just one block at a time. True EVM compatibility – Any DApp that works on Ethereum just works on Taraxa – no need to learn new languages, frameworks or tooling. Fast and low-cost – With peak throughput of 5,000 TPS (transactions per second), sub-second block times, instant block inclusion and under four-second finalization, working on Taraxa is fast and smooth, with each transaction costing next to nothing. True finality – Zero risk of transactions being reversed, Taraxa’s ‘true finality’ guarantees that when a transaction is finalized – under four seconds – it is finalized forever. Front-running prevention – Taraxa’s architecture and speed minimize and fragment the network’s mem pool, making it almost impossible and definitively unprofitable for DeFi transactions to be targeted for front-running. Supportive community – Taraxa’s community is highly engaged and the development team is helpful to a fault. Not only will the user be building on a network backed by the best technology in the world, but also they will receive the full support, attention and participation from Taraxa’s community. The upcoming ‘ficus root bridge’ in mid-2024 further strengthens the Taraxa ecosystem’s utility, asset diversity and cross-chain liquidity.
DeFi builders don’t have to worry about fragmented assets or liquidity since they flow seamlessly between Ethereum and Taraxa.
The bridge – coupled with Taraxa’s fast, low-cost and natively EVM-compatibility – make Taraxa a natural layer two solution for DApps or consensus layer for rollups.
Developers can apply to the Taraxa grant program today and pitch their ideas on how to creatively leverage decentralization to solve problems.
About Taraxa Founded by two Stanford engineers in 2018, Taraxa is an EVM-compatible smart contract platform based on T-Graph consensus utilizing BlockDAG, with many world-first technical innovations on top of the BlockDAG architecture.
After launching its mainnet in 2023, Taraxa represents the next evolutionary step in decentralized networks.
Tangem, a key cryptocurrency wallet, has revealed a major upgrade to its platform through the addition of more 8 networks to its ecosystem. The most recent networks added to its stable include Moonbeam, ZkSync, Base, zkEVM, Moonriver, PLAYA3ULL GAMES, Flare, and Taraxa. This move demonstrates the provider’s commitment to the helping its users to attain the latest technologies while meeting the unique demands of its broad user base.
We just dropped a major update! Our dev squad has been grinding hard to add 8 NEW NETWORKS to the mix. That's 🔥
Show some love and let them know how much you appreciate their hard work. Drop a reaction, comment, and share the hype!
And don't forget to update your app. You know… pic.twitter.com/LNlAfKA6jG
— Tangem (@Tangem) May 2, 2024 Tangem’s Crypto Wallet Bridges Global Access to Digital Assets Tangem’s crypto wallet is the most important connection between 8 billion people globally and the rapidly developing industry of digital assets. Based on the idea of creating digital assets quickly accessible, Tangem has successfully created its products utilizing a smartcard-based hardware wallet and an intuitive mobile app, amassing an extensive user base.
Having delivered goods to 170 countries, Tangem has become the world’s leading producer of cold hardware wallets for digital assets. Its product is safe and simple for people across the globe to use. Another essential characteristic of Tangem’s offering is the rapid deployment, as it takes users only 1 minute to set up their wallets.
Tangem’s Latest Update Demonstrates Commitment to Empowerment and Innovation The 8 new networks launched on Tangem’s platform constitute a big step towards more individual control of digital assets. Due to increased network compatibility and their product range enhancements, the company also solidified its position among the leading players in the cryptocurrency wallet market.
Lastly, with the expansion of the digital asset market, Tangem remains true to its commitment to offer its clients cutting-edge solutions that are simultaneously safe and simple to use . The most recent update is once again evidence of the company’s ambition to empower and a desire to be a global leader in the adoption of this technology.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Steven Pu, co-founder of layer-1 blockchain Taraxa, released a report on Feb. 24 highlighting a significant gap between claimed and actual blockchain performance.
Analyzing 22 networks using data from Chainspect, the study found that theoretical transactions per second (TPS) are overstated by an average of 20 times compared to real-world results. According to the findings, this discrepancy stems from lab-based metrics that fail to hold up on live mainnets.
The report introduces a new metric: TPS per dollar spent on a validator node (TPS/$), aiming to measure cost-efficiency rather than just raw speed. Across the 22 chains, theoretical TPS averaged 20 times higher than observed mainnet performance, with only four networks achieving double-digit TPS/$ ratios.
Pu argues this shows many blockchains require costly hardware for modest transaction rates, challenging claims of scalability and decentralization.
“We should all stick with transparent, verifiable, on-chain performance metrics,” per the study.
Source: Chainspect Blockchain scalability questioned Pu’s findings suggest the industry’s focus on high TPS misleads stakeholders. Bitcoin (BTC) and Ethereum (ETH), for example, prioritize security over speed, while newer chains tout big numbers that rarely materialize. The TPS/$ metric could shift how developers assess networks for practical use cases like payments or supply chain tracking. The report states that,
Max observed mainnet TPS for included networks, across a 100-block window (tx/s)
It’s worth noting that Chainspect specifically excludes transactions that may unfairly inflate this Max TPS metric, such as voting transactions
Taraxa pushes for transparency Taraxa, a proof-of-stake layer-1 focused on audit logging, frames this as a wake-up call. Pu, a Stanford-educated entrepreneur, urges reliance on verifiable mainnet data over whitepaper hype.
This comes as the crypto space grapples with adoption hurdles. Inflated statistics could distort investment and development decisions, particularly in decentralized finance and supply chain use cases that demand reliable performance. Pu suggests that cost-efficiency metrics like TPS/$ could redefine how blockchain sustainability is evaluated, shifting focus toward networks that deliver practical value rather than just high theoretical speeds.
A new report from Taraxa claims that many leading blockchain projects have dramatically overestimated their throughput. The study shows that major blockchain networks like Sonic, Solana, and Aptos have a significant gap between theoretical TPS (transaction per second) and the actual max TPS on the mainnet.
The findings suggest a massive overestimation of network efficiency and speed for these networks.
Most Blockchains Overestimate EfficiencyTaraxa, a Layer-1 blockchain, conducted an extensive analysis of several leading blockchains. It’s evident that most networks publicize new advances in their blockchain’s throughput, but many of these tests are conducted in ideal conditions. This study wished to observe how the most ‘bullish’ claims compare to regular operating conditions.
“Investors, developers, and users deserve transparency. The blockchain industry has long been obsessed with theoretical performance figures, but numbers generated in a lab mean little if they can’t be replicated in real-world conditions,” Taraxa co-founder Steven Pu said in an exclusive press release shared with BeInCrypto.
This investigation sought to assess these real-world conditions through a metric called “TPS per dollar.” Taraxa compared a blockchain’s transactions per second to the actual cost of running a validator node and used that to determine actual throughput.
This would be a more accurate way to determine how well these firms can live up to expectations.
Case in point, the study looked at the highest-ever recorded throughput on several blockchain projects, with a few important caveats. Permissioned and sharded networks were excluded, and some specific transactions (like voting transactions) were discarded to avoid number inflation.
Then, these figures were compared to developer-provided TPS claims:
Blockchain Projects Overestimate Throughput. Source: TaraxaThe results of this test revealed extremely high exaggeration. Sonic (formerly Fantom) reported blockchain throughput over 100x its actual capabilities, but the industry average was 20x. The L1 blockchain space is full of fierce competition, providing a clear incentive for this systematic inflation.
“Our research also shows that many networks require expensive hardware just to achieve modest transaction rates, which is neither technically impressive nor decentralized. By focusing on verifiable data from live networks, we can shift the conversation toward meaningful performance metrics,” Pu added.
Comparing TPS to dollar costs also provided interesting data. Solana had the highest costs by far, but it used these resources efficiently to maintain a high blockchain throughput. Taraxa also claimed that it had the best ratio in the entire industry by wide margins, which may impact its reasons for conducting the study and using this metric.
Regardless of the firm’s desire to market its own capabilities, blockchain throughput estimations seem heavily inflated across the whole industry. Taraxa has been analyzing several crucial Web3 sectors, such as the AI industry, and its results seem valuable.
Hopefully, some hard data here will encourage more realistic reporting from these projects.
With the rise of data breaches, fraud, and identity theft, a growing number of projects are using blockchain technology for file and identity validation. Digital files are quite easy to tamper with, as Craig Wright recently demonstrated in his court battles with the Kleiman estate.
Now a number of projects are using distributed ledgers as immutable records for important data. We’ve previously reported on Factom, which secures data on the Bitcoin blockchain, as well as Roger Ver’s Bitcoin Cash notary tool.
The details vary, but the model is the same: each file is used to generate a unique digital fingerprint, or hash, which is then saved on the blockchain. Since the odds of two files sharing a fingerprint are astronomically low, the presence of a correct hash is undeniable proof that the document has not been altered.
And the number of tools is growing. Here are some of the other entrants to the space:
BlockNotary Touting its “proof-of-existence” technology, BlockNotary allows users to upload digital content from their mobile devices with a Timestamp. Each file is stored on the Interplanetary File System, with a hash uploaded to Bitcoin’s mainnet or testnet.
This immutable ledger reduces the risk of copyright infringement for product users by proving ownership and identity. The technology also enables blockchain-verified video interviews, assuring fraud prevention and remote identity verification.
BlockNotary’s Journal application has the potential to be useful for legal applications, as it “replaces the paper notary journal for recording notary acts.”
Notarization via the Journal is secured with end-to-end encryption, timestamped, and protected for authenticity. BlockNotary is a strong advocate for the usage of blockchain authentication in legal situations, with Vermont State Law recognizing the utility of the tool, along with a number of other states.
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Acronis Acronis has been around for some time as a “global leader in hybrid cloud backup and data protection.” In their latest move, the project is using blockchain technology in an effort to “protect any data in any industry.”
The company proposes a range of use-cases, including court documents, medical records, security camera footage, or long-term archiving.
Acronis uses the Ethereum blockchain for its notary functions. Users upload each file to a repository, where a fingerprint of the file is stored as a hash on the Ethereum blockchain. As the Acronis website explains, “Authenticity of a stored file can be independently checked with the information contained in the corresponding certificate.” Because of the “known transparent algorithm,” the website argues, “you do not need to trust any person or entity to verify this information.”
Users can even test out the technology, notarizing a file by dragging and dropping it into the web browser demo.
source: notarystorage.acronis.com V-ID V-ID has been making major progress in recent months, both developmentally and in terms of market adoption. The VIDT token experienced massive growth, rising from a steady seven cents USD in previous months to more than 50 cents in late June before cooling off to the low 20’s.
The token was first launched on a select few exchanges, but is now expanding its availability, most notably on the new Binance DEX.
source: coinmarketcap.com Whereas other tools save data to a single blockchain, V-ID uses several different ledgers to increase security many times. At present, VIDT operates as a hybrid token on Bitcoin, Ethereum, DigiByte, Hyperledger, LTO Network, and, as of this month, Binance Chain.
The project proposes a wealth of use-cases, from the verification of diplomas and certificates, to the authentication of digital media files and accounting records. Using the V-ID system, the alteration of a single pixel could demonstrate the difference between a Photoshopped image and the original.
Also useful on a smaller-scale level, V-ID can be used for a variety of interesting applications. The V-ID website suggests a few more possibilities, such as countering diploma fraud.
“After [diploma] validation, graduates can copy, rename, print or send a diploma like any file. Recipients can check the integrity of the validated content, whether it is digital or printed, in 5 seconds,” the site explains. Business invoices can be validated by merchants and verified by customers to prevent fraudulent charges.
The V-ID project already claims a number of high-profile customers, including JWC Superyachts, Vitrumnet, and the educational institution, HBO Drechtsteden. Most impressively, the project also counts Airbus Space & Defense among its clients, although this could not be independently verified.*
More recently, V-ID announced a partnership with AmSpec, an oil and gas inspection company that produces more than 50,000 inspection reports on a monthly basis. In this case, there’s no question of accuracy: the partnership is demonstrated by the V-ID window on AmSpec’s website:
Each of these projects has a long way to go in terms of adoption. But the presence of a trustless means of verifying authenticity on an immutable ledger means that blockchain notaries won’t disappear anytime soon.
*An email to Airbus was not returned at the time of publication.
Disclosure: This article was edited by Darren Kleine. For more information on how we create and review content, see our Editorial Policy.
An international education initiative, designed to train the next generation of blockchain developers, has announced that TRON and the Stellar Development Foundation are among the inaugural thirteen companies who will work collectively to provide skills and expertise for the benefit of the industry.
The Blockchain Education Alliance, which is headed-up by MouseBelt, a combined VC fund and design studio, unveiled its first members: and they include a number of well-known names from the space.
As well as TRON (TRX) and Stellar (XLM), other Alliance cryptocurrency companies include Hedera (HBAR), ICON (ICX), Wanchain (WAN), and Ontology (ONT). There are also commercial and development companies like Emurgo and ETC Lab. Other members include Harmony One, Nervos, Orbs, LTO Network, and NEM (XEM).
Education, Education, Education MouseBelt is an accelerator for brand-new startups – as well as blockchain initiatives for existing companies – that has a team of fifty engineers to build products for companies all around the world.
Ashlie Meredith, Director of MouseBelt University, told Crypto Briefing that the idea of an Education Alliance came about after realizing there was “…probably a lot of really good projects going on at universities because that’s where a lot of innovation happens”.
After talking to Presidents of Blockchain Societies in the US and Canada, MouseBelt found they were all “…saying the same thing”. Frustrated with the lack of educational resources available for blockchain development, students were mostly teaching themselves blockchain because the “slow and bureaucratic” universities took too long to develop accredited courses.
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MouseBelt began by offering sponsorship agreements for meetups at thirteen schools across North America, as well as some support for hackathons and conferences at the beginning of the last academic year.
“We started the university programme to sponsor their events and get a conversation going,” explained Meredith. But that has now extended into an alliance of sixty-eight schools in more than fourteen countries, with universities in Europe, Singapore and Korea offering courses in all aspects of the industry. Meredith herself runs a course in event management and engagement with other crypto-users.
MouseBelt is now talking to universities, getting them on-board with official courses. They have already signed official partnerships with engineering departments at three universities and are currently trying to establish a base in Latin America too.
With clear engagement from universities, the Education Alliance is intended to extend the availability and depth of courses. Meredith said courses on Solidity were frequently in demand and the aim is for companies actively involved in the space to connect with students, guiding them on the technology and even provide office hours or online seminars.
What do the Alliance members get out of it? Nikhil Saraf, Principal Engineer at SDF, said they were already working on devoting resources to the Education Alliance, as it complemented their existing initiatives to encourage developers into learning blockchain skills.
“At the end of the day we’re building a community”, he said, “…and with this alliance we can get more students involved and teach them best practices on blockchain and how to develop on Stellar.”
Although SDF has not clearly articulated what its role in the Alliance will be, they did not see its purpose as recruiting programmers. Saraf mentioned that they were interested in the positive benefits it would bring to the whole space.
That said, he hoped it would make Stellar relevant to the next generation of blockchain developers; and they would be open to beginning conversations with promising projects.
“We want them to do their thing with that knowledge, hopefully on Stellar,” he added.
Kicking off this week, the new Education Alliance just had their first virtual meetup – an event that members are expected to attend to help coordinate the direction of education.
Although every company will be looking to take something slightly different from the Alliance, Meredith said that they wanted members who cared about “…the ethos of what blockchain is trying to do”, whether that’s through data privacy or financial sovereignty.
Disclosure: This article was edited by Paddy Baker. For more information on how we create and review content, see our Editorial Policy.
