Polkadot’s governance system is in the process of deciding whether the network should mint its own US dollar-pegged stablecoin, and the vote isn’t exactly close. Referendum #1944, which proposes creating a decentralized stablecoin called dotUSD, has attracted 97.5% support from voters so far, with roughly 2.31 million DOT cast in favor against just 59,900 opposing votes.
The proposal calls for $5 million in initial liquidity, split evenly between $2.5 million in USDT for minting the stablecoin and $2.5 million in DOT allocated to a liquidity pool. If approved, dotUSD would become the default stable-value instrument across Polkadot’s ecosystem, a move designed to cut the network’s dependence on third-party stablecoins like USDT and USDC.
How dotUSD would actually work dotUSD would be an over-collateralized stablecoin primarily backed by DOT, Polkadot’s native token. The liquidity pool would pair USDT with DOT on Asset Hub, giving dotUSD holders a pathway to swap in and out of the stablecoin. Over-collateralization means more DOT is locked up than the dollar value of dotUSD minted, providing a buffer against price drops in the underlying asset.
This is a protocol-level decision, not a private company launching a product. The proposal is moving through Polkadot’s OpenGov system on the Root track, which handles the network’s most consequential governance decisions. Contributions backing the initiative come from builders within the Polkadot ecosystem itself.
Polkadot’s second stablecoin attempt This isn’t actually Polkadot’s first crack at a native stablecoin. A previous proposal for a DOT-backed stablecoin called pUSD secured over 75% support earlier in 2025, with more than $5.6 million in DOT committed to the effort.
The referendum is currently in its deciding phase, meaning the vote has passed the initial support threshold and is now running through the full decision period required by OpenGov’s rules.
Why this matters for Polkadot’s DeFi ambitions Polkadot’s DeFi sector has historically been smaller than its peers, partly because the network’s architecture, built around specialized parachains, fragments liquidity across multiple chains. A protocol-owned stablecoin could serve as connective tissue, giving traders and developers a single stable asset that works natively across the ecosystem without relying on Circle or Tether to maintain bridge infrastructure.
External stablecoins carry counterparty risk. If Tether or Circle ever restricted access to their tokens on Polkadot, the ecosystem would have no fallback. dotUSD, backed by DOT sitting in Polkadot’s own smart contracts, removes that single point of failure.
An over-collateralized stablecoin backed primarily by DOT means the stablecoin’s health is tethered to DOT’s price performance. A severe and prolonged decline in DOT could strain the collateral ratio, potentially requiring liquidations or additional capital injections to maintain the peg.
The $5 million initial liquidity figure is modest by industry standards. For comparison, DAI’s total supply sits in the billions, and even smaller ecosystem stablecoins typically launch with larger war chests.
If dotUSD gains traction, it creates persistent demand for DOT as collateral. Every dollar of dotUSD minted requires more than a dollar’s worth of DOT locked up, effectively removing supply from circulation.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
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Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
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US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
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Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
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Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
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Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
Polkadot’s community has opened a governance vote on a native decentralized stablecoin called dotUSD, with a proposal to make the dollar-pegged asset the network’s primary stable-value instrument and eventually back it mainly with DOT.
Summary
Polkadot OpenGov is voting on a proposal to create dotUSD as the network’s native decentralized stablecoin. The plan calls for $5 million in initial DOT and USDT liquidity for a DOT and dotUSD pool. dotUSD would initially be minted against USDT before a second phase introduces DOT backed vaults, liquidations and redemptions. The full system would let users lock DOT to mint dotUSD while using on chain mechanisms to maintain its dollar peg. According to OpenGov Referendum 1944, the proposed stablecoin would be owned by the protocol and operate autonomously through on-chain logic, without a centralized issuer. The proposal was drafted with contributions from builders, developers and other participants in the Polkadot ecosystem.
The proposal remains in the decision stage at the time of writing. Its implementation would create dotUSD as a new asset, recognize it as the Polkadot stablecoin and establish a DOT/dotUSD liquidity pool on Polkadot Asset Hub.
An archived Polkassembly snapshot showed 2.4 million DOT voting in favor and 59,900 DOT against, equivalent to 97.5% Aye and 2.5% Nay at that point in the vote. The archive cautioned that the figures were frozen while the referendum was still in progress and may not represent the eventual on-chain result.
Polkadot proposes phased launch for dotUSD Under the plan, dotUSD would initially operate differently from the full DOT-backed system envisioned by its developers.
The first phase has already been built on-chain and would allow users to mint dotUSD one-for-one against USDT, subject to a supply cap. Since USDT would provide the reserve backing at this stage, the system would not require an oracle, collateral vaults or liquidation infrastructure.
The proposal seeks to use Polkadot Treasury assets to seed a DOT/dotUSD pool on the Hub decentralized exchange. The version submitted with the referendum allocated $2.5 million in USDT to mint dotUSD and another $2.5 million worth of DOT to the pool, giving it $5 million in initial liquidity.
A more recent version displayed on Subsquare lists $1.5 million in USDT and $1.5 million in DOT for the initial pool, reducing the proposed allocation to $3 million.
dotUSD would be designated a “sufficient asset,” allowing an account to hold the stablecoin without having to maintain a DOT balance. Governance would set parameters for the peg stability module, including the maximum amount of dotUSD that could initially be minted.
Phase two would move dotUSD toward its intended design by introducing DOT-backed collateral vaults, an oracle, a stability pool, liquidations and a redemption mechanism. The proposal describes dotUSD as an overcollateralized stablecoin whose architecture draws heavily from Liquity v2’s BOLD system.
Plans for a DOT-backed stablecoin have been under consideration for more than a year. As crypto.news previously reported in July 2025, Polkadot co-founder Gavin Wood disclosed work on a fully decentralized stablecoin during the Web3 Summit and said a treasury proposal was being prepared to bootstrap its liquidity.
How would the DOT-backed dotUSD system work? Once the second phase is implemented, users would deposit DOT into vaults and borrow dotUSD worth less than the collateral they provided.
The proposal gives an example of 300 DOT priced at $5 each, producing $1,500 in collateral. A user could mint up to $1,000 of dotUSD against the position, corresponding to a collateralization ratio of 150%. If the value of the DOT falls far enough to breach the required collateral ratio, the vault would become eligible for liquidation.
Borrowers would set the interest rates they pay on their own positions. Lower rates would place a vault earlier in the redemption queue, while borrowers willing to pay higher rates could reduce the chance that their collateral is selected for redemption.
Two arbitrage routes are intended to keep dotUSD close to $1. When the stablecoin trades above its peg, users could lock DOT, mint dotUSD and sell it at the higher market price, increasing supply. If dotUSD falls below $1, traders could buy it at a discount and redeem it through the protocol for $1 worth of DOT.
A capped stablecoin buffer is planned alongside the DOT redemption system. Existing stablecoins would back this portion of dotUSD and remain redeemable at $1, providing another route for maintaining the peg without selling the DOT used as collateral.
Liquidations would first be absorbed by a stability pool funded with dotUSD deposited by participants. In return for providing capital, stability pool participants would receive liquidated DOT at a discount while the corresponding dotUSD is burned to cancel the outstanding debt. If the pool runs out of funds, collateral and debt would be redistributed proportionally across the remaining vaults.
dotUSD ties into Polkadot’s new economic model The stablecoin proposal comes after Polkadot changed the economics of DOT, including the introduction of a fixed maximum supply.
The DAO approved a 2.1 billion DOT cap in September 2025, replacing the network’s previous model of uncapped issuance. A subsequent tokenomics upgrade introduced the Dynamic Allocation Pool, or DAP, which receives newly issued DOT and other network income for allocation through governance.
When the new tokenomics framework entered its implementation phase in March, DOT emissions were set to fall 53.6%, while newly minted tokens, transaction fees and slashes were directed into the DAP. Governance can allocate those funds toward staking rewards, treasury spending and other network budgets.
Referendum 1944 proposes using dotUSD within the next stage of that system. Under phase two of the DAP, validators and nominators are expected to receive remuneration in stable assets, while the Treasury would receive a combination of stablecoins and DOT. The proposal says dotUSD would allow those obligations to be denominated in dollars and settled through an asset native to Polkadot.
Polkadot already supports externally issued dollar tokens. USDC became available on Polkadot Asset Hub in September 2023, allowing the stablecoin to move to parachains through the network’s cross-consensus messaging system.
The dotUSD proposal argues that relying on externally issued stablecoins leaves Polkadot applications and treasury operations dependent on outside issuers and their governance. Its proposed full version would instead use DOT as the primary collateral while remaining governed through Polkadot.
The Polkadot Community Foundation said its role is administrative and that it would not issue, control or take custody of dotUSD, DOT or USDT under the proposal. It would not operate the stablecoin or provide liquidity, with dotUSD intended to function through on-chain logic without an issuer.
Implementation of the referendum’s preimage depends on Polkadot system chains being upgraded to version 2.5 under a separate governance proposal, Referendum 1942.
Polkadot [DOT] climbed 11.35% over 24 hours as its dotUSD proposal gained 97.5% governance approval, adding a major catalyst to the recent price recovery.
Specifically, the proposal highlights a native decentralized stablecoin, which is designed to serve as the Polkadot protocol’s key stable-value instrument.
The initiative also proposes $5 million in initial liquidity for a DOT-dotUSD pool on the Polkadot Asset Hub. Additionally, the treasury funds are expected to provide $2.5 million in USDT for minting and allocate another $2.5 million in DOT.
Therefore, the structure will expand DOT’s utility while also improving stablecoin liquidity across the protocol.
Futures sellers challenge renewed DOT demand After the earlier stronger market demand, DOT’s 90-day Futures Taker CVD printed seller dominance at the time of press. This implied aggressive Futures sellers started opposing buyers as DOT advanced toward the $1.282 zone.
Initially, the demand absorbed the supply-side pressure pushing DOT above its previous consolidation structure.
However, the momentum changed when the $1.282 price level rejected further expansion, and eventually the price started retracing.
The taker selling activity, therefore, contrasted with the governance catalyst supporting the broader price recovery.
The derivatives’ pressure, on the other hand, intensified further as the leveraged bullish positions unwound following the rejection at $1.282.
Source: CryptoQuant Long liquidations amplify selling pressure Notably, DOT’s price rejection aligned with approximately $305.57K in long liquidations against only $42.38K in shorts.
According to CoinGlass, Binance accounted for roughly $246.29K of the long liquidations, reflecting the exchange with the most losses across tracked exchanges.
The long liquidations imply that the leveraged buyers absorbed substantially heavier losses as the token retreated away from the $1.282 supply zone. Additionally, forced long closures also strengthened the ongoing seller dominance across the futures markets.
Combined, the liquidation imbalance and Futures Taker CVD, therefore, reinforced the derivatives-driven selling narrative behind DOT’s retracement.
Notably, this leverage pressure also coincided closely with the emerging exhaustion indicator across the technical price structure.
Source: CoinGlass Is DOT’s $1.282 rejection signaling exhaustion? Polkadot broke above the $0.946 and $1.044 resistance levels before rallying towards the $1.282 resistance zone, where buyers failed to sustain further advance.
The rejection provided a sharp red candle towards the $1.192 level, signaling possible profit-taking after the sharp price breakout.
Notably, the price and RSI earlier formed an upward convergence, confirming stronger buying pressure as the rally unfolded. However, the RSI also retreated from 85.26 to 75.95 following the price rejection at the $1.282 zone.
However, despite the correction, the MACD indicator remained bullish, with its line holding above its signal line.
Additionally, the positive histogram has expanded, showing that the broader bullish technical structure retained some strength despite the immediate selling pressure.
Therefore, the $1.044 price level would become the key support if the retracement deepens further. Holding above this support level could revive another attempt of the $1.282 resistance, but a break below could expose the $0.946 support zone.
Source: TradingView Final Summary DOT’s dotUSD catalyst supported demand, but $1.282 triggered clear short-term exhaustion. Futures selling and long liquidations increased pressure as DOT retraced from resistance.
Bitcoin price has shown signs of recovery, moving above a key on-chain cost basis despite lingering concerns from short-term technical indicators.
Analysts assess BTC recovery and future roadmapAt the latest available data, Bitcoin is priced near $78,856, representing a daily gain of 0.53%. Trading volume stands at almost $146 billion, and the market capitalization is close to $1.59 trillion as BTC maintains its dominant position among cryptocurrencies.
Crypto analyst Ali Martinez recently highlighted Bitcoin’s return to its “warm supply realized price.” This metric tracks the average acquisition price for BTC controlled by holders who bought their coins between one week and six months ago, offering insights into the mid-term investor landscape.
Historically, recoveries above the warm supply realized price have preceded notable rebounds. For example, in January 2023, after such recovery, Bitcoin climbed 69%. A similar move in October 2023 was followed by a 159% increase. More recent recoveries in October 2024 and April 2025 corresponded with rallies of 74% and 34%, respectively.
Previous instances of Bitcoin regaining its warm supply realized price were followed by significant rallies, but there is no certainty these trends will repeat according to analysts monitoring market history.
However, analysts have stressed that past performance is not a guarantee of future gains. The technical backdrop and broader market conditions remain influential factors for upcoming moves.
Another market analyst, Klarck, has taken a more cautious long-term approach. In a recent report published via KuCoin, Klarck outlined a scenario in which Bitcoin could fall from $69,000 to a cycle bottom near $40,000 before another significant bull run emerges. His forecast sets a long-term price target of $196,000 for 2029.
Klarck also referenced his earlier projections for the 2025 cycle, anticipating the next peak between $83,000 and $60,000.
Mini dictionary: KuCoin, a global cryptocurrency exchange known for its wide range of trading pairs and active analyst community, frequently publishes market updates and research from independent traders and researchers like Klarck.
Klarck’s roadmap envisions a period of downward movement before the next major uptrend: “$69K → $40K (Cycle Bottom) → New Bull Cycle → $196K by 2029. The final flush is closer than most traders realize…”.
Technical analysis and market levelsOn the technical front, Bitcoin’s price has reclaimed a position above the middle line of the Bollinger Bands, currently at $78,729. The upper band stands around $80,907, while the lower band is near $76,551. Movement above the middle band typically signals buyers may attempt to test the higher resistance level.
IndicatorCurrent LevelBTC Price$78,856Bollinger Band (Upper)$80,907Bollinger Band (Mid)$78,729Bollinger Band (Lower)$76,551MACD-452.41MACD Line2,676.23Signal Line3,128.65The MACD remains in negative territory at -452.41, with its primary line at 2,676.23 below the signal line of 3,128.65, highlighting persistent bearish momentum. A bullish crossover in these indicators could shift momentum in favor of buyers.
The short-term resistance zone lies between $80,000 and $81,000. A strong breakout above this range may encourage renewed optimism and further advances, while a drop below $78,700 could test the support near the lower Bollinger Band at $76,551.
Analysts are also monitoring the $69,000 level, cited as a critical threshold for a deeper bearish phase. Holding above this level would strengthen the case for continued recovery, while a loss might indicate an extended period of correction.
Despite the latest positive move and signals of strength above key price bands, traders are watching for confirmation above $80,000 before speculating on a sustained uptrend. Previous warm supply realized price recoveries have often preceded rallies, but there is no assurance this pattern will repeat in the current cycle.
The Hashgraph Group, Merck KGaA and PwC Germany said they are testing a system that records Merck's physical authentication scans on Hedera to document cocoa origin, timed to an EU deforestation law that applies to large operators on Dec. 30. The announcement names no cocoa farmer, processor or chocolate brand, discloses no volumes and sets no deployment date.
The Hashgraph Group, Merck KGaA and PwC Germany said Tuesday they are piloting a cocoa traceability system that links physical authentication scans to records written on the Hedera network, less than four months before the European Union's deforestation regulation starts applying to large and medium operators.
No cocoa company appears in the announcement. The three partners disclose no tonnage, no farm count, no cost and no date for moving past a pilot, and the release carries quotes only from the three technology vendors selling the system. It is the third announcement about the passport platform since February with no named customer, and the second involving Merck KGaA, the Darmstadt-based science and technology company that operates as EMD in the United States and Canada and is unrelated to Merck & Co.
Large and medium operators must comply with Regulation (EU) 2023/1115 from Dec. 30, 2026, with micro and small operators following on June 30, 2027, according to the European Commission. Cocoa is one of seven commodities in scope, alongside cattle, coffee, oil palm, rubber, soya and wood.
The Polygon ProblemWhat the regulation demands is coordinates. Article 9 requires operators to collect and keep for five years "the geolocation of all plots of land" where the commodity was produced, plus the date or time range of production. The regulation defines geolocation as latitude and longitude to at least six decimal places, and for plots above four hectares as a polygon tracing the perimeter. Any deforestation on a listed plot disqualifies everything grown on it.
Merck's M-Trust technology addresses a different question. It embeds security markers in products or packaging and confirms, when scanned, that the item is the one the record describes. The Hashgraph Group's TrackTrace platform writes that scan to Hedera with a timestamp. Neither step produces the farm polygon, which still has to be surveyed at the first mile and entered by whoever buys the beans.
"M-Trust verifies that the product being scanned is genuine, while TrackTrace records that authentication event as part of the product's digital history," said Thomas Endress, Executive Director and Head of M-Trust at Merck, in the release.
Husen Kapasi, Enterprise Blockchain Lead at PwC Germany, located the value in recalls, saying the system maintains "a verifiable trail not only of the finished product, but also of its raw materials, including their quality and compliance history." He said that becomes useful "in the event of a food recall or a compliance investigation."
Four Percent Is The FloorArticle 25 of the regulation requires member states to set fines whose maximum is "at least 4 % of the operator's or trader's total annual Union-wide turnover in the financial year preceding the fining decision," and to raise that figure "where necessary, to exceed the potential economic benefit gained." The 4% is the minimum ceiling member states have to set, calculated on EU-wide revenue.
Non-compliant operators also face confiscation of the products and of any revenue from them, exclusion from public procurement for up to twelve months, and a ban on placing the goods on the market for serious or repeated breaches.
Food Is ExemptThe release also positions the pilot for "the broader shift toward Digital Product Passports under ESPR." The Ecodesign for Sustainable Products Regulation, which created the digital product passport and entered into force on July 18, 2024, does not apply to cocoa. Article 1(2)(a) excludes food as defined in Regulation (EC) No 178/2002, alongside feed, medicines, live plants and animals.
The Hashgraph Group's own TrackTrace launch in February listed textiles, construction materials, batteries and electronics as the product groups the passport regime will cover. Food was not among them.
Five Million FarmersThe traceability problem the partners describe is documented. Cocoa is grown by an estimated five million to six million farmers, most of them smallholders, and West Africa produced 77.3% of the world crop in the 2020/21 season, according to the International Cocoa Organization. Côte d'Ivoire alone accounted for 43.3% and Ghana for 20.2%. Beans from thousands of plots move through village buyers and intermediaries before reaching a processor, which is what makes plot-level geolocation expensive to produce.
Built On June's DealThe cocoa pilot extends an integration the same two companies announced on June 9, when The Hashgraph Group said it would connect M-Trust scanning to TrackTrace passports and said a first working supply-chain pilot would be announced soon. PwC Germany is the addition, credited in the release with mapping business processes, defining workflows and running the training for enterprise deployment.
The Hashgraph Group is a Swiss venture-building company that builds on Hedera. Hedera has been the venue for enterprise and tokenization pilots for years; the network launched an asset tokenization studio in September 2024, and The Hashgraph Association, the Swiss non-profit alongside the group, set up a $250 million venture studio with Saudi Arabia's investment ministry in February 2024.
Stefan Deiss, CEO and co-founder of The Hashgraph Group, framed the cocoa work as a template. "By integrating TrackTrace with Merck's M-Trust technology and PwC's process expertise, we can link any physical product, not limited to cocoa, to a trusted digital record," he said.
HBAR Near Eight CentsHBAR traded at $0.077, down 2.5% over 24 hours and is up 5.9% over seven days, for a market value of $3.5 billion, according to CoinGecko. The token is 86% below its September 2021 high of $0.5692.
Hedera's DeFi footprint is small next to the enterprise pipeline. Total value locked on the network stood at $27.3 million, and $1.4 million of 24-hour DEX volume, according to DefiLlama. The chain processed about 593,500 transactions and counted 3,831 active addresses over 24 hours.
The Hashgraph Group, Merck KGaA and PwC Germany said they are testing a system that records Merck's physical authentication scans on Hedera to document cocoa origin, timed to an EU deforestation law that applies to large operators on Dec. 30. The announcement names no cocoa farmer, processor or chocolate brand, discloses no volumes and sets no deployment date.
The Hashgraph Group, Merck KGaA and PwC Germany said Tuesday they are piloting a cocoa traceability system that links physical authentication scans to records written on the Hedera network, less than four months before the European Union's deforestation regulation starts applying to large and medium operators.
No cocoa company appears in the announcement. The three partners disclose no tonnage, no farm count, no cost and no date for moving past a pilot, and the release carries quotes only from the three technology vendors selling the system. It is the third announcement about the passport platform since February with no named customer, and the second involving Merck KGaA, the Darmstadt-based science and technology company that operates as EMD in the United States and Canada and is unrelated to Merck & Co.
Large and medium operators must comply with Regulation (EU) 2023/1115 from Dec. 30, 2026, with micro and small operators following on June 30, 2027, according to the European Commission. Cocoa is one of seven commodities in scope, alongside cattle, coffee, oil palm, rubber, soya and wood.
The Polygon ProblemWhat the regulation demands is coordinates. Article 9 requires operators to collect and keep for five years "the geolocation of all plots of land" where the commodity was produced, plus the date or time range of production. The regulation defines geolocation as latitude and longitude to at least six decimal places, and for plots above four hectares as a polygon tracing the perimeter. Any deforestation on a listed plot disqualifies everything grown on it.
Merck's M-Trust technology addresses a different question. It embeds security markers in products or packaging and confirms, when scanned, that the item is the one the record describes. The Hashgraph Group's TrackTrace platform writes that scan to Hedera with a timestamp. Neither step produces the farm polygon, which still has to be surveyed at the first mile and entered by whoever buys the beans.
"M-Trust verifies that the product being scanned is genuine, while TrackTrace records that authentication event as part of the product's digital history," said Thomas Endress, Executive Director and Head of M-Trust at Merck, in the release.
Husen Kapasi, Enterprise Blockchain Lead at PwC Germany, located the value in recalls, saying the system maintains "a verifiable trail not only of the finished product, but also of its raw materials, including their quality and compliance history." He said that becomes useful "in the event of a food recall or a compliance investigation."
Four Percent Is The FloorArticle 25 of the regulation requires member states to set fines whose maximum is "at least 4 % of the operator's or trader's total annual Union-wide turnover in the financial year preceding the fining decision," and to raise that figure "where necessary, to exceed the potential economic benefit gained." The 4% is the minimum ceiling member states have to set, calculated on EU-wide revenue.
Non-compliant operators also face confiscation of the products and of any revenue from them, exclusion from public procurement for up to twelve months, and a ban on placing the goods on the market for serious or repeated breaches.
Food Is ExemptThe release also positions the pilot for "the broader shift toward Digital Product Passports under ESPR." The Ecodesign for Sustainable Products Regulation, which created the digital product passport and entered into force on July 18, 2024, does not apply to cocoa. Article 1(2)(a) excludes food as defined in Regulation (EC) No 178/2002, alongside feed, medicines, live plants and animals.
The Hashgraph Group's own TrackTrace launch in February listed textiles, construction materials, batteries and electronics as the product groups the passport regime will cover. Food was not among them.
Five Million FarmersThe traceability problem the partners describe is documented. Cocoa is grown by an estimated five million to six million farmers, most of them smallholders, and West Africa produced 77.3% of the world crop in the 2020/21 season, according to the International Cocoa Organization. Côte d'Ivoire alone accounted for 43.3% and Ghana for 20.2%. Beans from thousands of plots move through village buyers and intermediaries before reaching a processor, which is what makes plot-level geolocation expensive to produce.
Built On June's DealThe cocoa pilot extends an integration the same two companies announced on June 9, when The Hashgraph Group said it would connect M-Trust scanning to TrackTrace passports and said a first working supply-chain pilot would be announced soon. PwC Germany is the addition, credited in the release with mapping business processes, defining workflows and running the training for enterprise deployment.
The Hashgraph Group is a Swiss venture-building company that builds on Hedera. Hedera has been the venue for enterprise and tokenization pilots for years; the network launched an asset tokenization studio in September 2024, and The Hashgraph Association, the Swiss non-profit alongside the group, set up a $250 million venture studio with Saudi Arabia's investment ministry in February 2024.
Stefan Deiss, CEO and co-founder of The Hashgraph Group, framed the cocoa work as a template. "By integrating TrackTrace with Merck's M-Trust technology and PwC's process expertise, we can link any physical product, not limited to cocoa, to a trusted digital record," he said.
HBAR Near Eight CentsHBAR traded at $0.077, down 2.5% over 24 hours and is up 5.9% over seven days, for a market value of $3.5 billion, according to CoinGecko. The token is 86% below its September 2021 high of $0.5692.
Hedera's DeFi footprint is small next to the enterprise pipeline. Total value locked on the network stood at $27.3 million, and $1.4 million of 24-hour DEX volume, according to DefiLlama. The chain processed about 593,500 transactions and counted 3,831 active addresses over 24 hours.
A new patent linked to the US Department of Transportation (DOT) has sparked discussion about Hedera’s potential role in nationwide road-user charging systems. Ayman Mufleh, a popular market analyst, highlighted that the patent specifically mentions Hashgraph settlement and consensus functions as potential components for a digital-currency-based method of collecting per-mile tolls from drivers.
Patent details mention distributed ledger technologyThe patent, described as outlining “methods and systems for facilitating collection of road user charges using a digital currency based on a distributed ledger technology,” references several consensus frameworks. According to Mufleh, the main focus is on blockchains, directed acyclic graphs, and technologies similar to Hedera’s Hashgraph. These systems are noted for their scalability and ability to enhance auditability, which could allow for a road charging system that does not rely on centralized tolling infrastructure.
Supporting technical detail, the filing presents a transaction flow diagram: a vehicle or user digitally signs a smart contract, followed by multi-layered validation, and final settlement via a Hashgraph ledger. Both the Hedera Hashgraph Settlement System and the Hedera Consensus Service are explicitly named in the patent’s technical language.
However, observers stress that mention within a patent does not equate to a production decision. The patent’s language, while detailed, should not be mistaken for a confirmed integration or live government use of HBAR—the native Hedera token—as an official payment option for road usage.
Mufleh draws a clear distinction between technical references in a patent and an actual DOT rollout, noting that no live contracts, procurement decisions, or implementation timelines have been revealed.
He points out that claims about current DOT use of Hedera HBAR extend beyond the evidence provided in the patent documentation. The department’s patent outlines possible frameworks but stops short of establishing that HBAR is being utilized today.
Automated vehicles and future infrastructure possibilitiesMufleh links the patent’s potential impact to a recently introduced DOT automated-vehicle strategy known as “America Leads.” In this scenario, the proliferation of electric and autonomous vehicles between 2026 and 2030 could drive demand for programmable digital systems capable of handling widespread tolls, road charges, and related transportation fees.
While the technology could eventually affect up to 300 million vehicles in the United States, there are currently no specifics in terms of deployment dates, contract values, or details of participating states. The analysis emphasizes that Hedera’s appearance in the patent is an early indicator, not a guarantee of near-term adoption.
Recent trading activity showed that HBAR rose modestly in the days surrounding the news, but the token did not register significant gains. Mufleh, offering a market outlook, suggested that HBAR could eventually retest its previous peak near $0.60, and even reach $1 or $2 over the longer term. He adds that such scenarios depend on wider trends around tokenization, stablecoins, regulatory shifts, and institutional adoption, all of which remain speculative for now.
For investors, the explicit reference to Hashgraph technology in DOT’s patent provides evidence of Hedera’s suitability for mobility payments, but technical mention alone should not be viewed as confirmation of government adoption or current HBAR usage.
In parallel with this move toward on-chain infrastructure and transparent payment platforms, a broader market transition is underway. While traditional financial models depend on complex intermediaries, platforms such as 1stepSwap are enabling investors to hold tokenized shares of major US companies, as well as gold and silver, directly within their crypto wallets. These solutions leverage real-world asset (RWA) tokenization and automated price discovery, removing conventional middlemen and unlocking new efficiencies for both traders and large institutions.
Investor perspective and market cautionFor holders of Hedera, the mention within a major government patent is a notable event, but analysts encourage investors to remain cautious and distinguish between potential and actual implementation. Any bullish targets for HBAR remain tied to future growth in digital infrastructure, but no formal DOT issuance or procurement has taken place to date.
At this stage, the presence of Hedera’s framework in an official document signals interest at an institutional level, yet proof of active government use has not been established.
A different approach to transaction pricingMost public networks price their transactions directly in their native token, which means the real cost of any on-chain action moves in lockstep with market conditions. @hedera takes a different path. The result is that users and enterprises know what a transaction costs in dollar terms before they sign it, regardless of where $HBAR is trading.
How the fee schedule and exchange rate work under the hood The exchange rate itself is published separately by the network and refreshed roughly once an hour, meaning the HBAR amount a user pays can shift between updates even for an identical transaction.
Standard fees follow the published table, but not every transaction is straightforward. Developers working at scale should account for this when estimating costs.
For builders, this predictability also has a practical side:
Sources:
Hedera Official Fee Documentation
Hedera: How Hedera Calculates the HBAR/USD Exchange Rate
HIP-1261: Simple Fees
Key Takeaways Manufacturing remains in expansion, with new orders, production and exports supporting future activity.Caterpillar's record $72B backlog and capacity expansion position it for rising demand across key markets.Watts Water's record Q2 results benefited from pricing, higher volumes and growing data center demand. U.S. manufacturing activity remained in expansion territory for the eighth consecutive month in August, despite persistent trade uncertainty, elevated input costs and geopolitical tensions. Three of four key demand indicators, New Orders, Backlog of Orders and New Export Orders, remained in expansion. Meanwhile, the Customers’ Inventories Index stayed in “too low” territory or below 50%, which is generally viewed as supportive of future production.
The improving manufacturing backdrop is also supporting the Industrial Products sector, which is witnessing positive estimate revisions for the third quarter. Per the latest Earnings Trends report, the sector is expected to deliver earnings growth of 12.9% in the third quarter and 11.6% in 2026. It is one of the nine sectors expected to post double-digit growth this year. Against this backdrop, it would be ideal to invest in industrial stocks like Caterpillar (CAT - Free Report) , Kubota (KUBTY - Free Report) , Nordson (NDSN - Free Report) , Zebra Technologies (ZBRA - Free Report) and Watts Water Technologies (WTS - Free Report) .
Manufacturing Activity Remains in ExpansionThe ISM Manufacturing PMI was 54.6% in August, dipping one percentage point from July’s 55.6%. Despite this, August marked the eighth consecutive month of manufacturing growth, following a 10-month period of contraction. Despite the moderation, the sector remained in expansion for the eighth straight month following 10 consecutive months of contraction. Five of the six largest manufacturing industries expanded, led by transportation equipment, petroleum and coal products, computer and electronic products, machinery, and food, beverage and tobacco products.
The New Orders Index declined to 53.7% from 56.7% but remained in expansion for the eighth consecutive month. The Production Index held at a strong 58.3%, extending its expansion streak to 10 months. The Backlog of Orders Index was 51.8%, while new export orders edged up to 53.2%, expanding for the second consecutive month.
The Employment Index slipped to 51.2% from 52.8%, but remained in expansion territory for the second consecutive month. Only one of the six largest manufacturing industries reported higher employment, pointing to a more cautious approach toward hiring across the sector. Still, the overall employment reading suggests that manufacturers are not yet broadly cutting workforce levels as production remains healthy.
The Inventories Index was 50.6% in August, down 0.6 percentage points compared with 51.2% in July. The Customers’ Inventories Index rose to 42.8% in August from 40.7% in July, and remained in “too low” territory in August. This is generally positive for future production as manufacturers may need to replenish inventories as demand improves.
Cost pressures continue to challenge manufacturers. The Prices Index remained elevated at 71.1%, indicating higher raw-material prices for the 23rd consecutive month. Steel, aluminum, copper, electrical components and electronic components were among the materials reported as rising in price or facing supply constraints. Tariffs and geopolitical tensions are adding to cost pressures and could weigh on margins. In response, industry participants are focusing on pricing actions, cost optimization, productivity gains and diversification of supplier networks to offset these pressures.
Outlook Remains Constructive, but Risks PersistOverall, the trend so far this year points to a continued manufacturing recovery. Lean customer inventories, expanding new orders and sustained production provide a positive foundation for future activity. At the same time, elevated input costs, tariffs, supply-chain challenges and geopolitical uncertainty could limit the pace of improvement. ISM's 2026 forecast calls for 8.4% growth in manufacturing revenues, 4.9% growth in capital expenditures and a 9.7% increase in production capacity, supporting the case for industrial stocks positioned to benefit from renewed manufacturing investment.
5 Industrial Products Stocks to BuyCaterpillar: The company ended the second quarter of 2026 with a record backlog of $72 billion, 92% higher than last year. It is positioned to benefit from several secular growth trends, including U.S. infrastructure spending, mining demand related to the energy transition, automation adoption, data center expansion and sustainability investments. To capitalize on rising power-generation and oil-and-gas demand, CAT will restart production of its 10-megawatt gas engine platform. It plans to bring about 1.5 gigawatts of capacity back online. It is also expanding turbine capacity and has repurposed a 250,000-square-foot facility in Wamego, KS. CAT is simultaneously investing in services, e-commerce, sustainability, electrification and other digital initiatives.
The Zacks Consensus Estimate for Caterpillar’s current-year earnings moved up 9.7% in the past 60 days. The consensus mark indicates year-over-year growth of 43.4%. The company has a trailing four-quarter earnings surprise of 18.1%, on average. Caterpillar has an estimated long-term growth of 21.1% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kubota: The company is benefiting from strength in construction equipment, particularly in North America, along with improving prospects in Europe and continued growth in India. Disciplined fixed-cost management and profitability improvement measures are expected to support profitability. Agricultural machine automation is one of the key pillars of these initiatives. The company is expanding its product lineup, adding a variety of attachments to meet customer needs.
The Zacks Consensus Estimate for Kubota’s earnings for fiscal 2026 has moved up 36% over the past 60 days and suggests year-over-year growth of 40%. The company has a trailing four-quarter earnings surprise of 41.7%, on average. It has an estimated long-term earnings growth rate of 10% and currently carries a Zacks Rank #2 (Buy).
Nordson: The company is poised to gain from its diversified business structure, which helps mitigate the adverse impact of weakness in one end market with strength across the others. Over time, Nordson has been capitalizing on acquisitions by penetrating unexplored markets and expanding its product lines. Nordson remains committed to rewarding its shareholders through dividend payments and share buybacks.
The Zacks Consensus Estimate for Nordson for fiscal 2026 earnings has moved up 2% over the past 60 days and suggests year-over-year growth of 15.6%. The company has a trailing four-quarter earnings surprise of 32.4%, on average. It has an estimated long-term earnings growth rate of 13% and currently carries a Zacks Rank of 2.
Zebra Technologies: The company is benefiting from broad demand across retail, manufacturing and healthcare, with mobile computing, printing, machine vision and RFID supporting growth across both segments. Its integrated hardware, software and services portfolio is deepening customer adoption of automation and AI-enabled workflows, while Elo Touch and Photoneo expand its addressable opportunities. Healthy cash generation continues to support share repurchases and investment, while device upgrade cycles and growing software adoption strengthen the longer-term outlook. Its expanding transportation and logistics pipeline also supports future growth opportunities.
The Zacks Consensus Estimate for Zebra Technologies for fiscal 2026 earnings has moved up 9% over the past 60 days. The estimate suggests year-over-year growth of 28.2%. The company has a trailing four-quarter earnings surprise of 15.5%, on average. It currently carries a Zacks Rank of 2.
Zebra Technologies Corporation Price and Consensus
Watts Water Technologies: The company completed five acquisitions in 2025 to broaden its product set, extend market reach and increase nonresidential exposure. The acquired businesses are performing well and remain on track to achieve or exceed targeted synergies through the One Watts performance system. Watts Water's second-quarter 2026 results benefited from favorable pricing, higher volumes and data center demand, which helped drive record sales, operating income and earnings per share. Data center cooling is emerging as a growth avenue as liquid cooling adoption, new products and broader customer relationships expand the opportunity. A healthy balance sheet supports capacity investments, selective M&A and shareholder returns.
The Zacks Consensus Estimate for Watts Water Technologies for fiscal 2026 earnings has moved up 4.7% over the past 60 days and the estimate suggests year-over-year growth of 20.5%. The company has a trailing four-quarter earnings surprise of 10.4%, on average. It has an estimated long-term earnings growth rate of 8% and currently carries a Zacks Rank of 2.
McKesson (MCK - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this prescription drug distributor have returned -1.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Medical - Dental Supplies industry, to which McKesson belongs, has gained 2.3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
McKesson is expected to post earnings of $10.75 per share for the current quarter, representing a year-over-year change of +9%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.2%.
For the current fiscal year, the consensus earnings estimate of $44.65 points to a change of +14.2% from the prior year. Over the last 30 days, this estimate has changed +0.1%.
For the next fiscal year, the consensus earnings estimate of $49.83 indicates a change of +11.6% from what McKesson is expected to report a year ago. Over the past month, the estimate has changed +0.2%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, McKesson is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For McKesson, the consensus sales estimate for the current quarter of $110.14 billion indicates a year-over-year change of +6.8%. For the current and next fiscal years, $429.09 billion and $459.25 billion estimates indicate +6.4% and +7% changes, respectively.
Last Reported Results and Surprise HistoryMcKesson reported revenues of $105.38 billion in the last reported quarter, representing a year-over-year change of +7.7%. EPS of $9.93 for the same period compares with $8.26 a year ago.
Compared to the Zacks Consensus Estimate of $104.39 billion, the reported revenues represent a surprise of +0.95%. The EPS surprise was +5.19%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
McKesson is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about McKesson. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Yellow tentacles decorated with rhythmic patterns of dots swirl around a room, the patterns echoed on the floor and the walls. Reflections bounce off mirrors, blurring the boundaries of the space at Amsterdam 's Stedelijk Museum.
The installation — specially created for an exhibition of the work of Japanese artist Yayoi Kusama, who died Aug. 14 at age 97 — is titled “Infinity Mirrored Room — The Hope Of The Polka Dots Buried In Infinity Will Eternally Cover The Universe.”
The room is at the heart of the exhibition at the Stedelijk that opens this week, just two weeks after her death. What was to have been a retrospective has turned into a posthumous celebration of one of the globe's best known contemporary artists, who depicted her world splashed with polka dots and other repetitive motifs.
“We heard about her passing,” exhibition curator Leontine Coelewij told The Associated Press. “We decided to make it really a tribute. A tribute to her life. Tribute to her work, so that everybody can see what she is ... to us. So many wonderful works.”
Kusama's signature dots greet visitors before they even get into the museum in Amsterdam — they are plastered across its facade and even on red fabric wrapped around trees on the adjacent Museum Square.
Coelewij said that painting the dots was a way for the artist to process hallucinations she had from a young age. Among the works on display is a huge pumpkin made of fiber-reinforced plastic and polyurethane paint, its yellow skin covered in lines of black dots of varying sizes.
“So a lot of her work comes from these mental issues that she had,” Coelewij said. “And I think she made something beautiful out of it for her. It was also a way to explore ideas about infinity, for instance, like, how do we relate to the universe, to the cosmos, to the world around us?”
Kusama had long-standing links to the Netherlands and the Stedelijk. She was active in Amsterdam and other Dutch cities in the freewheeling 1960s, and her work was closely aligned to the ZERO movement established in the late 1950s by German artists, Heinz Mack and Otto Piene.
She was part of a landmark exhibition by the movement, also at the Stedelijk, in 1965. A photo from that Amsterdam exhibition shows Kusama, wearing a white kimono, standing among artists from the movement — mostly men in suits and ties.
In a famous “happening” in 1967, Kusama covered the naked body of Dutch artist Jan Schoonhoven with painted dots in the chapel of the Stedelijk Museum Schiedam near Rotterdam.
“She really liked the whole atmosphere in the Netherlands, which was rather open and tolerant, liberal,” Coelewij said. “She was also part of the counterculture of that moment, the hippie culture. You know, Amsterdam was the magical center, and she felt very much at home here.”
The new exhibition spans through several rooms before going up an escalator lined with mirrors to reach the infinity room installation one floor up.
It's Coelewij's favorite part of the show, created for the exhibition that was previously staged at Museum Ludwig in the German city of Cologne.
“There’s a lot of mirrors, there’s tentacles, there’s a lot of color, and it’s a ... you can say hallucinating world. You really step into her mind,” Coelewij said.
It's a fitting tribute to the artist who said 10 years ago that she felt her life was nearing its end but she was “still fighting to the death for my art.”
“I am giving all I have so that many people will continue to be interested in my art, even after I am dead,” Kusama had said.
The exhibition at Amsterdam’s Stedelijk opens on Friday and runs through Jan. 17.
AMSTERDAM (AP) — Yellow tentacles decorated with rhythmic patterns of dots swirl around a room, the patterns echoed on the floor and the walls. Reflections bounce off mirrors, blurring the boundaries of the space at Amsterdam ‘s Stedelijk Museum.
The installation — specially created for an exhibition of the work of Japanese artist Yayoi Kusama, who died Aug. 14 at age 97 — is titled “Infinity Mirrored Room — The Hope Of The Polka Dots Buried In Infinity Will Eternally Cover The Universe.”
The room is at the heart of the exhibition at the Stedelijk that opens this week, just two weeks after her death. What was to have been a retrospective has turned into a posthumous celebration of one of the globe’s best known contemporary artists, who depicted her world splashed with polka dots and other repetitive motifs.
“We heard about her passing,” exhibition curator Leontine Coelewij told The Associated Press. “We decided to make it really a tribute. A tribute to her life. Tribute to her work, so that everybody can see what she is ... to us. So many wonderful works.”
Kusama’s signature dots greet visitors before they even get into the museum in Amsterdam — they are plastered across its facade and even on red fabric wrapped around trees on the adjacent Museum Square.
Coelewij said that painting the dots was a way for the artist to process hallucinations she had from a young age. Among the works on display is a huge pumpkin made of fiber-reinforced plastic and polyurethane paint, its yellow skin covered in lines of black dots of varying sizes.
“So a lot of her work comes from these mental issues that she had,” Coelewij said. “And I think she made something beautiful out of it for her. It was also a way to explore ideas about infinity, for instance, like, how do we relate to the universe, to the cosmos, to the world around us?”
Kusama had long-standing links to the Netherlands and the Stedelijk. She was active in Amsterdam and other Dutch cities in the freewheeling 1960s, and her work was closely aligned to the ZERO movement established in the late 1950s by German artists, Heinz Mack and Otto Piene.
She was part of a landmark exhibition by the movement, also at the Stedelijk, in 1965. A photo from that Amsterdam exhibition shows Kusama, wearing a white kimono, standing among artists from the movement — mostly men in suits and ties.
In a famous “happening” in 1967, Kusama covered the naked body of Dutch artist Jan Schoonhoven with painted dots in the chapel of the Stedelijk Museum Schiedam near Rotterdam.
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“She really liked the whole atmosphere in the Netherlands, which was rather open and tolerant, liberal,” Coelewij said. “She was also part of the counterculture of that moment, the hippie culture. You know, Amsterdam was the magical center, and she felt very much at home here.”
The new exhibition spans through several rooms before going up an escalator lined with mirrors to reach the infinity room installation one floor up.
It’s Coelewij’s favorite part of the show, created for the exhibition that was previously staged at Museum Ludwig in the German city of Cologne.
“There’s a lot of mirrors, there’s tentacles, there’s a lot of color, and it’s a ... you can say hallucinating world. You really step into her mind,” Coelewij said.
It’s a fitting tribute to the artist who said 10 years ago that she felt her life was nearing its end but she was “still fighting to the death for my art.”
“I am giving all I have so that many people will continue to be interested in my art, even after I am dead,” Kusama had said.
The exhibition at Amsterdam’s Stedelijk opens on Friday and runs through Jan. 17.
Kripto para piyasasında geçmiş yıllarda görülen 100 katlık altcoin yükselişlerinin sona erip ermediği yeniden tartışılıyor. CoinMarketCap Araştırma Başkanı Alice Liu’ya göre üç haneli getiriler hala mümkün ancak fırsatlar artık piyasanın farklı alanlarında ortaya çıkıyor. Özellikle memecoinler ve yeni ekosistemlerdeki tokenlerin hızlı yükselişlerine dikkat çeken Liu, güçlü temellere sahip projelerde ise 10 ila 20 katlık potansiyelin hala yakalanabileceğini düşünüyor.
Memecoinlerde 100 Kat Yükseliş Hala Mümkün mü? Alice Liu, yüksek getirilerin tamamen ortadan kalkmadığını ancak yatırımcıların doğru piyasa trendlerini erken yakalaması gerektiğini belirtti. Liu, “Hala devam ediyorlar. Doğru partilere katılmamız gerekiyor” ifadelerini kullandı. Özellikle Justin Sun ile bağlantılı memecoinler ve Robinhood Chain üzerinde geliştirilen tokenlerdeki hareketliliğe dikkat çeken Liu, memecoin piyasasında sermayenin oldukça hızlı hareket ettiğini söyledi. Bununla birlikte güçlü temellere sahip daha köklü altcoinlerde 100 kat yerine 10 veya 20 katlık yükselişlerin daha gerçekçi olabileceğini ifade etti.
İlginizi Çekebilir: Bitcoin’de Dengeleri Değiştirecek İki Faktör!
CoinMarketCap Altcoin Sezonu Endeksi mevcut piyasanın henüz tam anlamıyla bir altcoin sezonuna girmediğini gösteriyor. Endeks, stablecoinler hariç en büyük 100 kripto paranın son 90 günlük performansını Bitcoin ile karşılaştırıyor.
Endekste öne çıkan seviyeler şöyle:
75 ve üzeri: Piyasanın güçlü bir altcoin sezonuna girdiğine işaret ediyor. 25 ve altı: Bitcoin’in piyasadaki hakimiyetinin güçlü olduğunu gösteriyor. Mevcut seviye 36: Altcoinlerin Bitcoin’in gölgesinden çıkmaya başladığı ancak henüz geniş çaplı bir altcoin sezonunun oluşmadığı anlamına geliyor. Liu’ya göre son dönemde tek bir altcoin rallisinden ziyade farklı anlatılar ve sektörler arasında hızlı sermaye geçişleri yaşanıyor.
Hangi Altcoinler Öne Çıkıyor? Son 90 günlük performansa bakıldığında launchpad projeleri ve yeni ekosistem tokenlerinin yatırımcı ilgisini güçlü şekilde çektiği görülüyor. Liu’ya göre özellikle Robinhood Chain üzerinde geliştirilen PONS, son dönemin öne çıkan projeleri arasında yer alırken Pump.fun da güçlü performans gösteren platformlardan biri oldu. Bu hareketlilik, yatırımcıların yeni anlatılara ve yüksek büyüme potansiyeli taşıyan projelere yönelmeye devam ettiğini gösteriyor.
Ancak sermaye akışı yalnızca yeni tokenler ve memecoinlerle sınırlı değil. Zcash ve Litecoin gibi daha köklü kripto paraların yanı sıra Uniswap ve Curve gibi DeFi projeleri de yatırımcıların radarında bulunuyor. Farklı kategorilerdeki projelerin aynı dönemde güç kazanması, piyasadaki sermayenin tek bir alanda yoğunlaşmak yerine farklı kripto sektörleri arasında hareket ettiğine işaret ediyor. Liu’ya göre bu hızlı rotasyon, olası bir altcoin sezonunda hangi projelerin öne çıkacağını belirleyebilecek önemli faktörlerden biri olabilir.
Altcoin Sezonu Başlayabilir mi? Liu’ya göre geniş çaplı bir altcoin rallisinin başlaması için Bitcoin’in mutlaka yeni bir tüm zamanların en yüksek seviyesine ulaşması veya 100.000 doları aşması gerekmiyor. Asıl önemli faktör Bitcoin’in güçlü ve istikrarlı bir yükseliş sergilemesi. Bitcoin’in 70.000 veya 80.000 dolar gibi önemli seviyeleri aşarak istikrar kazanması, piyasadaki likiditeyi ve yatırımcı güvenini artırabilir. Tarihsel olarak sermaye daha sonra Ethereum ve DeFi projelerine, ardından daha riskli altcoinler ve memecoinlere doğru hareket edebiliyor. CoinMarketCap Araştırma Başkanı Alice Liu, altcoinlerde büyük kazanç fırsatlarının tamamen ortadan kalkmadığını düşünüyor. Ancak Altcoin Sezonu Endeksi’nin 36 seviyesinde olması, piyasanın henüz geniş çaplı bir altcoin rallisine girmediğini gösteriyor. Bitcoin’in güçlü görünümünü koruması ve sermayenin altcoinlere yayılması halinde yeni fırsatlar ortaya çıkabilir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Uniswap Labs is rolling out a suite of developer resources designed to make building on Uniswap v4 hooks considerably less painful. The package includes dedicated API access, a public hook registry, security review partnerships, and direct integration into the Uniswap interface, collectively representing the most comprehensive support infrastructure the protocol has offered to third-party builders.
Think of hooks as modular plug-ins for Uniswap’s liquidity pools. They’re external smart contracts that can inject custom logic before or after key pool actions like swaps or liquidity additions. Want dynamic fees that adjust based on volatility? A custom pricing curve? Hooks make that possible without touching the core protocol code.
What’s in the toolkit The centerpiece for discovery is a public hooklist repository, essentially a registry of deployed v4 hooks complete with metadata and audit links. Developers can submit their hooks via GitHub issues, giving the ecosystem a centralized place to find, evaluate, and integrate third-party hook implementations.
On the security front, Uniswap launched an AI-assisted plugin called uniswap-hooks on July 14, 2026. The tool provides security guidance and threat modeling specifically tailored to developers working with v4 hooks.
That plugin arrived roughly six weeks after the Uniswap Foundation published its Self-Directed Security Framework around June 1, 2026. The framework outlines four core principles centered on developer ownership and risk management, bundled with risk-scoring worksheets designed to help builders evaluate their own code before shipping it to mainnet.
Uniswap has also lined up audit subsidies through partnerships with OpenZeppelin and Trail of Bits, two of the most respected smart contract auditing firms in the industry.
Perhaps the most practically significant change: hooks are now integrated directly into the Uniswap interface. That means hook-compatible pools show up in liquidity provision flows and automatic swap routing. Developers don’t have to build their own frontend or convince users to visit a separate site. If a hook-enabled pool offers a better rate, Uniswap’s router can find it.
Why hooks matter for v4 Uniswap v4 was architected around the idea that the protocol should be a platform, not just a product. Hooks are the mechanism that makes that vision tangible. Instead of Uniswap Labs building every possible feature into the core contract, they built the infrastructure for anyone to extend pool functionality.
The approach enables things like limit orders, time-weighted average price execution, MEV redistribution, and oracle integrations, all without protocol upgrades.
The public hooklist repository with its audit links serves a curation function. The AI plugin and security framework serve a prevention function. And the audit subsidies serve an accessibility function.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Uniswap [UNI] has overtaken Circle [CRCL] to become the second-highest fee-generating crypto protocol. The timing couldn’t have been more peculiar though, with Circle pushing into payments through its Tazapay buy.
Here’s the rundown!
Uniswap overtakes Circle! Uniswap generated about $66.8 million in protocol fees over the past week. That development pushed the platform ahead of Circle.
It is now also the second-highest fee-generating crypto protocol after Tether [USDT].
A contributor to this growth might just be Robinhood’s new Ethereum L2. More users and transactions on the network have increased demand for on-chain trading, something that has worked in Uniswap’s favour.
Circle bets bigger on USDC Payments with Tazapay acquisition While Uniswap has been gaining ground, Circle may just be playing a different game though.
The stablecoin behemoth will soon buy Singapore-based payments platform Tazapay. The deal is reportedly worth about $400 million, all-stock. The transaction is expected to close in 2027, pending regulatory approvals.
Irfan Ganchi, Senior Vice President of Payments at Circle, said,
Combined with Circle’s existing network, Tazapay extends our coverage to move money anywhere stablecoin payments are being adopted globally.
Tazapay already handles more than $25 billion in annualised payment volume. They also work with over 60 banking and fintech partners. Its local payout network reaches more than 100 markets. This suggested that Circle would get a much wider base for moving USDC across borders.
Accordig to Co-Founder and CEO Jeremy Allaire,
We are excited to bring the team in-house and work together towards accelerating Circle’s mission.
Notably, stablecoins already make up around 60% of Tazapay’s transaction volume.
AMBCrypto previously reported that Circle’s USYC was also in a close race with BlackRock’s BUIDL in the tokenized Treasury market. The gap between the two was small, so money inflow or outflow can quickly change their positions.
Circle has been connected to the company for some time. It previously invested in Tazapay through Circle Ventures, and Tazapay has also been a design partner for Circle Payments Network since 2025.
Final Summary Uniswap generated about $66.8M in weekly protocol fees, overtaking Circle. The latter is expanding USDC payments with its $400M Tazapay acquisition.
Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
8 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
8 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
8 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
8 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
8 minutes ago
a16z Crypto releases open-source zkVM Lattice Jolt, with quantum-resistant capabilities.
a16z Crypto has announced the release of a new version of its open-source zero-knowledge virtual machine (zkVM), Lattice Jolt. The update switches the underlying cryptography from elliptic curves to lattice cryptography, making the system quantum-resistant, and boosts both prover and verifier speeds by 2 to 3 times. Its proof size currently stands at under 100KB, which a16z Crypto claims is the smallest proof of any post-quantum zkVM. Lattice Jolt uses a novel polynomial commitment scheme called Akita, built on the Module-SIS lattice hardness assumption, with a target 128-bit security level. Akita was developed by LayerZero’s research and engineering team in collaboration with teams from Carnegie Mellon University, the University of Southern California, and a16z Crypto. Performance-wise, Lattice Jolt can prove over 2 million RISC-V cycles per second on a CPU-only device; with Apple Metal GPU acceleration, it exceeds 10 million cycles on a MacBook. The prover’s memory footprint has also dropped from roughly 300 bytes per cycle to 200 bytes, supporting proof generation for millions of compute cycles on mobile phones. The project will add additional zero-knowledge functionality via an upcoming academic paper.
TLDR Circle agreed to buy Singapore-based payments company Tazapay for $400 million in an all-stock deal. Tazapay processes more than $25 billion in annual payment volume across over 100 markets. About 60% of Tazapay’s transaction volume already involves stablecoins. Uniswap passed Circle to become the second-highest fee-generating crypto protocol, pulling in $66.8 million in weekly fees. Circle shares fell 5.8% on Tuesday, closing at $96.18 after the acquisition news. Circle has agreed to buy Tazapay, a Singapore-based payments company, for $400 million in an all-stock deal. The announcement came on Sept. 8, alongside a filing with U.S. regulators.
The deal was signed on Sept. 4 through Taurus Acquisition, a Circle subsidiary. Circle will pay the full amount using Class A common stock.
The number of shares will be based on Circle’s average closing price over the 20 trading days before the deal closes. The final price can still shift based on Tazapay’s debt, expenses and cash on hand.
Circle will also hold back some shares after closing. Five percent will be set aside for possible claims, with another three percent held for additional issues.
Tazapay’s global payment reach Tazapay handles cross-border payments for banks, marketplaces and other platforms. The company works with more than 60 banking and fintech partners.
Its payout network reaches more than 100 markets around the world. Circle said Tazapay processes over $25 billion in payment volume each year.
Circle has signed an agreement to acquire @Tazapay. 60+ banking and fintech partners. 100+ payment markets. 60%+ stablecoin TPV as of July 31, 2026. This accelerates the breadth and depth of CPN globally. https://t.co/L1AufIzus7
— Jeremy Allaire – jerallaire.arc (@jerallaire) September 8, 2026
That figure has grown fast. Tazapay reported just over $10 billion in annual volume back in August 2025.
Circle said stablecoins already make up about 60% of Tazapay’s transaction volume. That overlap is part of the reason Circle wants to own the company outright.
Circle Ventures had already invested in Tazapay before this deal. Tazapay has also worked as a design partner for Circle Payments Network since 2025.
Circle’s Senior Vice President of Payments, Irfan Ganchi, said the deal extends the company’s coverage to move money wherever stablecoin payments are being adopted. Circle co-founder and CEO Jeremy Allaire said he was looking forward to bringing the Tazapay team in house.
Uniswap moves ahead of Circle in fees While Circle works on this acquisition, Uniswap has passed it in a different measure. Uniswap generated about $66.8 million in protocol fees over the past week.
That put Uniswap ahead of Circle, making it the second-highest fee-generating crypto protocol. Only Tether generated more in fees during that stretch.
Growth on Robinhood’s new Ethereum layer-2 network may have played a part. More activity on that network has increased demand for on-chain trading, which has worked in Uniswap’s favor.
Circle shares closed at $96.18 on Sept. 8, down about 5.8% from the prior session. Shares traded between $95.20 and $101.14 during the day.
The drop cannot be tied only to the Tazapay announcement without more information. Other market factors may have played a role.
The Tazapay deal still needs approval from the Monetary Authority of Singapore, along with other regulatory clearances. Closing is expected sometime in 2027.
Either company can end the agreement if it has not closed within nine months. That window can stretch to 15 months if regulatory approvals are still pending, and there is no termination fee involved.
Circle said Tazapay customers will not see any immediate changes to services, pricing or support. No timeline has been shared yet for which payment corridors will get USDC support first.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to official website data, the mainstream liquidity pool (LP pool) for Biden’s son-themed Meme coin LAPTOP has been set up on Aerodrome. This pool charges a 2% transaction fee, with a cumulative trading volume of $510,000 and a total value locked (TVL) of $2 million. However, likely due to trader habits, the official pool has not outperformed the community pool. On Uniswap, LAPTOP’s community LP pool has a minimum transaction tax rate of 5%, a TVL of just $705,000, but has already recorded an actual trading volume of $6.426 million, with a pool APR as high as 19,412%.
Shares of Marqeta (MQ - Free Report) have gained 4.4% over the past four weeks to close the last trading session at $16.26, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $20.5 indicates a potential upside of 26.1%.
The mean estimate comprises 10 short-term price targets with a standard deviation of $3.34. While the lowest estimate of $17.00 indicates a 4.6% increase from the current price level, the most optimistic analyst expects the stock to surge 72.2% to reach $28.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for MQ, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in MQAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 23.7%, as two estimates have moved higher compared to no negative revision.
Moreover, MQ currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much MQ could gain, the direction of price movement it implies does appear to be a good guide.
GXO Logistics, Inc. (GXO) Jefferies Global Industrials Conference 2026 September 9, 2026 8:50 AM EDT
Company Participants
Patrick Kelleher - CEO & Director
Kristine Kubacki - Chief Strategy Officer
Conference Call Participants
Stephanie Benjamin Moore - Jefferies LLC, Research Division
Presentation
Stephanie Benjamin Moore
Jefferies LLC, Research Division
All right. Good morning, everybody. Welcome all of you to Jefferies 2026 Industrial Conference. My name is Stephanie Moore, Jefferies Transportation and Logistics analyst. We're very pleased to have the team from GXO today. We have CEO, Patrick Kelleher; and Chief Strategy Officer, Kristine Kubacki. Thank you, guys, for being here.
Patrick Kelleher
CEO & Director
Thank you for having us.
Stephanie Benjamin Moore
Jefferies LLC, Research Division
Yes. Format is just simple fireside chat. I'll kick it off with a bunch of questions, and we can go from there.
Question-and-Answer Session
Stephanie Benjamin Moore
Jefferies LLC, Research Division
Maybe starting with maybe kind of near-term focus just because we did come off of the second quarter results. And I do think -- I certainly have received a lot of questions on just the organic growth performance on the quarter. So on the specifics, 2Q organic growth of 3.4% moderated slightly from the first quarter. We got a lot of questions around that. But I do think on a 2-year stack, it actually accelerated, but there's a lot of nuances there. So maybe just starting with that, can you just talk through maybe some of the nuances 1Q to 2Q, how we should think about the timing of contract start-ups and maybe what drove any kind of deceleration?
Patrick Kelleher
CEO & Director
Sure. So I joined GXO 1 year ago. Prior to joining, GXO has been on the decelerating path of organic growth. We were mid-teens organic growth when we spun out of XPO in 2021, forecasting 4% to
A single trading session erased more than a third of UWM Holdings' market value after the Company reported a $603.2 million interest rate derivatives loss, with the securities class action alleging investors were never told the Company had taken an over-hedged MSR position tied to the failed Two Harbors deal.
, /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in UWM Holdings Corporation (NYSE: UWMC) of a pending securities class action filed on behalf of shareholders who purchased securities between March 9, 2026 and August 5, 2026. Find out if you may qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
UWMC shares fell $0.64, or 34.78%, to close at $1.20 on August 6, 2026, on unusually heavy trading volume. Shares had traded as high as $4.04 on March 10, 2026, a Class Period peak. Investors have until October 13, 2026 to seek lead plaintiff status.
The Market Reaction to the August Disclosure
After the market closed on August 5, 2026, UWM reported second quarter results that included a $603.2 million interest rate derivatives loss, a $451.9 million quarterly net loss, and a 43.6% year-over-year decline in total equity. The following morning, during the Company's earnings call, management described the position as "over-hedged" in connection with the terminated Two Harbors Investment Corp. transaction, a deal originally valued at $1.3 billion. Trading volume spiked as the stock repriced.
How the Repricing Compares to Class Period Highs
Class Period high: $4.04 per share on March 10, 2026 Closing price after the disclosure: $1.20 per share on August 6, 2026 Single-session decline: $0.64 per share, or 34.78% Reported interest rate derivatives loss: $603.2 million Reported second quarter net loss: $451.9 million Reported year-over-year decline in total equity: 43.6% The complaint asserts that these figures reflect the removal of artificial inflation from the share price once information about the hedging position reached the market.
What the Complaint Says Was Missing From Prior Statements
The action charges that, during the Class Period, the Company did not disclose that it had departed from its longstanding practice of not hedging mortgage servicing rights, that the position taken ahead of the Two Harbors transaction was excessive, and that purported risk mitigation had instead created an excess hedging exposure. The pleading asserts that positive statements about the Company's business and prospects were therefore materially misleading or lacked a reasonable basis.
"When companies fail to disclose material information, shareholders may suffer significant losses. The complaint here alleges that UWMC investors were not told the Company had taken a hedging position outside its stated business model before a $603.2 million derivatives loss was reported." -- Joseph E. Levi, Esq.
Submit your information here or call (212) 363-7500.
ABOUT THE FIRM — For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Investors who suffered losses have until October 13, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the UWMC Lawsuit
Q: How much did UWMC stock drop? A: Shares fell approximately 34.78%, a decline of $0.64 per share, to close at $1.20 on August 6, 2026. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.
Q: When did UWM Holdings Corporation allegedly mislead investors? A: The Class Period runs from March 9, 2026 to August 5, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.
Q: What court was the UWMC class action filed in? A: The case was filed in the United States District Court for the Eastern District of Michigan, governed by the Private Securities Litigation Reform Act of 1995.
Q: What do UWMC investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my UWMC shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
NEW YORK, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against UWM Holdings Corporation (“UWM Holdings” or the “Company”) (NYSE: UWMC) on behalf of investors that purchased or otherwise acquired UWM Holdings securities between March 9, 2026 and August 5, 2026 (the “Class Period”).
CLICK HERE TO JOIN THE CASE
If you are an investor in UWM Holdings and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 13, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The Complaint alleges that on “August 5, 2026, after the market closed, UWM reported second quarter fiscal year 2026 financial results, including a $603.2 million interest rate derivatives loss which contributed to a $451.9 million second-quarter net loss. Total equity also fell 43.6% year over year, reflecting the net loss and derivative-related charges.” “Then, on August 6, 2026, at 10:30 AM EDT, the Company held an earnings call in connection with its second quarter 2026 financial results. During that call, Chief Executive Officer Mathew Ishbia (‘Ishbia’) disclosed ‘We were over-hedged, if you think of it that way, protecting against the Two Harbors transaction.’ Ishbia further stated ‘[w]e don't traditionally hedge our MSRs [Mortgage Servicing Rights]’ but ‘when you're going through and acquiring a company like Two Harbors and a massive MSR book… it created a little more risk. So . . . we did put a hedge on to protect against that risk and then a lot of things happen[ed]…and then obviously, the Two Harbors transaction went away. And so a confluence of events that created a hedge loss.’” On “this news, shares of UWM Holdings fell $0.64 or 34.78% to close at $1.20 on August 6, 2026, on unusually heavy trading volume.”
The Complaint further alleges that “Defendants failed to disclose to investors that: (1) the Company had deviated from its traditional strategy of not hedging its mortgage servicing rights to take a major hedge position; (2) the Company over-hedged itself in anticipation of the Two Harbors transaction; (3) the Company’s purported efforts to balance its risk in fact created an excess hedging risk; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571 [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1501
Oakland, California 94612
(415) 772-4704 [email protected]
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
Emcor Group (EME - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this construction and maintenance company have returned -5.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Building Products - Heavy Construction industry, to which Emcor Group belongs, has lost 11.9% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Emcor Group is expected to post earnings of $8.31 per share, indicating a change of +26.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0% over the last 30 days.
The consensus earnings estimate of $33.04 for the current fiscal year indicates a year-over-year change of +27.7%. This estimate has changed +0.6% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $37.14 indicates a change of +12.4% from what Emcor Group is expected to report a year ago. Over the past month, the estimate has changed +2.8%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Emcor Group.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Emcor Group, the consensus sales estimate of $5.21 billion for the current quarter points to a year-over-year change of +21%. The $20.32 billion and $22.41 billion estimates for the current and next fiscal years indicate changes of +19.6% and +10.3%, respectively.
Last Reported Results and Surprise HistoryEmcor Group reported revenues of $5.15 billion in the last reported quarter, representing a year-over-year change of +19.8%. EPS of $9.06 for the same period compares with $6.72 a year ago.
Compared to the Zacks Consensus Estimate of $4.73 billion, the reported revenues represent a surprise of +8.99%. The EPS surprise was +25.31%.
Over the last four quarters, Emcor Group surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Emcor Group is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Emcor Group. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
Brown-Forman is reiterated as a Buy, with valuation attractive despite macro headwinds and industry challenges. BF.B demonstrates resilience through flat organic sales, 6% EPS growth, strong cash flow, and a robust balance sheet supporting a 3.5% dividend yield. Guidance remains cautious: FY27 organic sales roughly flat, operating income down 3–5%, but innovation and restructuring initiatives provide long-term upside.
Altcoinlerin son dönemde Bitcoin’den daha iyi performans gösterdiği yönündeki yorumlar kripto piyasasında yeniden gündemde. Ancak bir analistin yaptığı basit karşılaştırma, bu görüşün tüm piyasa için geçerli olmayabileceğini ortaya koyuyor.
VirtualBacon adıyla bilinen trader Denis Liu, Bitcoin’in 22 Ağustos ve 9 Eylül’de neredeyse aynı seviyede olduğu iki günü karşılaştırdı. BTC bu iki tarihte sırasıyla 78.313 ve 78.440 dolar seviyesindeydi.
Peki Bitcoin yaklaşık aynı yerdeyken altcoinler ne yaptı?
Bitcoin Aynı Yerdeyken Altcoinler Ne Kazandı? Liu’nun karşılaştırmasına göre büyük altcoinlerin çoğu Bitcoin’deki hareketsizliğe rağmen güçlü bir ayrışma göstermedi.
Ethereum %1, XRP %2, Dogecoin %2, Tron %1 ve Cardano %3 gerilerken, büyük altcoinler arasındaki istisnalardan biri Avalanche oldu ve %2 yükseldi.
Liu’ya göre dokuz büyük altcoinin altısı, 22 Ağustos’taki seviyelerine yalnızca birkaç puan uzaklıkta kaldı. Bu da Bitcoin yükseldiğinde altcoinlerin de hareket ettiğini, ancak BTC yatay kaldığında bu kazançların önemli bölümünün geri verildiğini gösteriyor.
Buradaki temel soru ise şu: Altcoinler gerçekten Bitcoin‘i geride mi bırakıyor, yoksa yalnızca Bitcoin’in hareketlerini daha sert mi takip ediyor?
Hangi Altcoinler Bitcoin’den Daha İyi Performans Gösterdi? Karşılaştırmada tamamen ayrışan coinler de vardı.
Solana iki tarih arasındaki dönemde %10, BNB %9 ve Chainlink %5 yükseldi.
Ancak Liu, bu hareketlerin başka bir sorunu beraberinde getirdiğini düşünüyor. Bir coin yükselmeye başladıktan sonra hikâyesinin piyasada yaygın şekilde konuşulmasını beklemek, yatırımcının hareketin önemli bölümünü kaçırmasına neden olabilir.
Bu nedenle trader, daha güçlü performans gösteren altcoinleri takip etmek yerine Bitcoin’i elinde tutmayı tercih ettiğini söyledi.
Liu’nun yaklaşımı, altcoin rallisinin tamamını reddetmiyor. Asıl itirazı, birkaç güçlü performansın bütün piyasaya mal edilmesine.
Bitcoin’den sadece daha sert hareket eden bir coin, yine de Bitcoin’i takip ediyor.”
— VirtualBacon
“Altcoinler Bitcoin’i Geçiyor” Görüşü Neye Dayanıyor? Piyasada bunun tam tersini savunan analistler de bulunuyor.
Matthew Hyland, 100’den fazla büyük altcoinin farklı zaman dilimlerinde Bitcoin’den daha iyi performans gösterdiğini öne sürüyor.
Hyland, temmuz ayında yayımladığı değerlendirmesinde makro risk göstergelerinin 2016-2017 ve 2020-2021 dönemlerine benzer şekilde olumlu bir yapıya dönüştüğünü savunmuştu.
Analist ayrıca Total 2, Total 3 ve OTHERS gibi altcoin piyasasının genel performansını izleyen göstergelerin uzun vadeli düşüş trendlerini kırdığını belirtiyor.
Altcoin Sezonu Gerçekten Başladı mı? Hyland’in görüşünü destekleyen bir başka gelişme de vadeli işlem piyasasında yaşandı. Altcoin sürekli vadeli işlem sözleşmelerindeki açık pozisyon miktarı, Aralık 2024’ten bu yana ilk kez Bitcoin’in üzerindeki seviyeye çıktı.
Hyland bu gelişmeleri, şimdiye kadarki en büyük altcoin yükselişlerinden birinin hazırlığı olarak yorumluyor.
Ancak VirtualBacon’ın yaptığı fiyat karşılaştırması başka bir şey söylüyor: Bitcoin yaklaşık iki buçuk hafta boyunca aynı seviyelerde kalırken piyasanın en büyük altcoinlerinin çoğu belirgin bir şekilde ilerlemedi.
Dolayısıyla iki görüş aslında tamamen aynı soruya cevap vermiyor. Hyland gelecekte oluşabilecek daha geniş bir altcoin hareketine dikkat çekerken, Liu mevcut fiyat performansına bakarak bunun henüz piyasaya genellenemeyeceğini savunuyor.
Altcoinlerde Asıl Hareket Nerede? Veriler, “altcoinler Bitcoin’i geçiyor” ifadesinin şu aşamada bütün piyasayı kapsayan tek bir hikâye olmadığını gösteriyor.
Solana, BNB ve Chainlink gibi bazı altcoinler belirgin şekilde yükselirken büyük bölümün Bitcoin’e kıyasla sınırlı hareket ettiği görülüyor.
Bu nedenle önümüzdeki dönemde asıl izlenecek konu, birkaç altcoinin yükselmeye devam etmesi değil, bu performansın piyasanın geneline yayılıp yayılmayacağı olacak.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
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Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
4 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
4 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
4 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
4 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
4 minutes ago
a16z Crypto releases open-source zkVM Lattice Jolt, with quantum-resistant capabilities.
a16z Crypto has announced the release of a new version of its open-source zero-knowledge virtual machine (zkVM), Lattice Jolt. The update switches the underlying cryptography from elliptic curves to lattice cryptography, making the system quantum-resistant, and boosts both prover and verifier speeds by 2 to 3 times. Its proof size currently stands at under 100KB, which a16z Crypto claims is the smallest proof of any post-quantum zkVM. Lattice Jolt uses a novel polynomial commitment scheme called Akita, built on the Module-SIS lattice hardness assumption, with a target 128-bit security level. Akita was developed by LayerZero’s research and engineering team in collaboration with teams from Carnegie Mellon University, the University of Southern California, and a16z Crypto. Performance-wise, Lattice Jolt can prove over 2 million RISC-V cycles per second on a CPU-only device; with Apple Metal GPU acceleration, it exceeds 10 million cycles on a MacBook. The prover’s memory footprint has also dropped from roughly 300 bytes per cycle to 200 bytes, supporting proof generation for millions of compute cycles on mobile phones. The project will add additional zero-knowledge functionality via an upcoming academic paper.
As top crypto assets continue to show mixed price actions, it appears that institutional investors across the broad crypto market are gradually withdrawing their interest, causing momentum in the ETF market to fade.
While the broader crypto ETF market is seeing less participation from investors, the latest data from SosoValue shows that XRP has emerged as the only major cryptocurrency among Bitcoin, Ethereum, and Solana to attract fresh capital during the latest daily trading session.
XRP sees sustained demand After a day of zero participation in the XRP ETF ecosystem, it appears that investor demand for the XRP investment product has returned.
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Per the data, XRP ETFs recorded a modest $1.55 million in net inflows on September 8, while Bitcoin, Ethereum, and Solana ETFs all posted net outflows on the same day.
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With XRP being the only asset that attracted fresh capital on that day, Bitcoin ETFs collectively recorded about $46.65 million in net outflows, while Ethereum and Solana ETFs saw $24.29 million and $667,720 in withdrawals on the same day.
Although XRP only saw a very modest capital flow into its funds, it has taken dominance over the ETF market, as it shows that investors are more interested in gaining exposure to XRP through regulated ETF products rather than other assets.
XRP reclaims $1.43While XRP is back on a bullish trajectory, showing a modest price gain of around 3% over the last day, the sustained demand for its ETF product could further drive price appreciation for the asset.
As such, traders are increasingly becoming optimistic about a $2 breakout for XRP as momentum continues to build despite market instability.
Solana traded near $103.40 on Wednesday, September 9, as market participants assessed whether its recent breakout above $100 would withstand a potential retest, or instead trigger another correction in the near term. At the time of writing, SOL was down roughly 0.3% over 24 hours but remained nearly 4% higher over the past week, reflecting an ongoing tug-of-war between bullish and cautious short-term views across higher and lower time frames.
Solana tests key daily breakout, $100 level in focusA daily chart shared by crypto analyst Inmortal showed Solana emerging from a several-month trading period between the high-$60s and high-$90s. This recent surge through the $98 to $100 resistance raised the question of whether this previous ceiling might now serve as solid support.
The chart highlighted a clear breakout in August, quickly followed by a phase of consolidation between $100 and $110. This structure remains constructive as long as Solana holds above the former resistance region. Inmortal outlined a scenario where SOL dips below $100 only to recover, projecting a possible move toward $150 if buyers reestablish momentum.
A retest and rebound from the $100 area could confirm this level as new support, particularly if Solana manages to close consistently above the recent consolidation range near $110. However, a decisive fall below the $98 to $100 zone would raise the risk of further losses, with analysts noting reference support levels at $82 and in the upper-$60s, should a deeper reversal unfold.
Inmortal considered the possibility of a temporary pullback below $100, followed by a swift recovery, potentially setting up a path for SOL to target $150 longer term. He emphasized that the integrity of $100 as support will be key for this scenario.
Short-term signals suggest possible correctionWhile the daily breakout signals optimism, short-term indicators remain less conclusive. More Crypto Online highlighted that Solana may still be in a C-wave decline according to Elliott Wave analysis, despite the recent rebound. The analyst identified a choppy, not fully confirmed bearish structure, which keeps short-term traders cautious.
At around $103.07, SOL faces a resistance cluster across several Fibonacci levels at $103.89, $104.53, $105.18, and $106.11, making the $104 to $106 range a critical zone for the current rally. A rejection from this area, followed by renewed weakness, would reinforce the case for further downside, first targeting support near $98 and later, the more significant zone between $94.39 and $94.83. Additional support may emerge between $91.57 and $90.46 if bearish momentum extends.
A clear move above $106.11 would disrupt this immediate bearish sequence, while a reclaim of the larger resistance at $110.50 could shift sentiment back to favor the bullish breakout scenario.
The analyst at More Crypto Online stressed that the $104-$106 region serves as both a short-term test for upward momentum and a potential trap for sellers if buyers stage a strong reversal above these levels.
These technical levels have caught the attention of both traders and market watchers, who continue to monitor the price action for signs of confirmation in either direction.
While traders remain focused on key levels in Solana’s chart, a broader shift is underway in asset management. Wall Street has started moving into Web3, with investors increasingly using platforms such as 1stepSwap to hold tokenized shares of major US companies, as well as gold and silver, directly in their crypto wallets. Such platforms utilize real-world asset tokenization and automated pricing, offering exposure to traditional securities without intermediaries.
For now, market participants remain watchful of how Solana navigates the critical $100 region. A strong hold or rapid reclaim of this level would fuel hopes for further upside, while a rejection and break of nearby supports could extend the correction into the mid-$90s, awaiting fresh buying interest.
A Unified Account for Fiat and Stablecoins@Altitude has embedded @MoonPay Enterprise virtual accounts directly into its global operating account, giving treasury teams a single interface that spans traditional banking and on-chain settlement on @Solana. The move addresses a persistent pain point for corporate treasurers: the need to maintain separate providers for fiat collection, stablecoin conversion, and cross-border payouts.
Under the arrangement, businesses using Altitude are issued dedicated virtual accounts that sit on familiar banking rails. On the Altitude platform, those settled assets land within a Solana-native treasury environment.
How MoonPay Enterprise Powers the Infrastructure
The Altitude integration extends that consolidation to Solana-based treasury operations.
The integration routes funds through a compliance engine that connects legacy fiat systems directly to stablecoin rails, bypassing the correspondent banking chains that typically slow corporate money movement. For treasury operators on Altitude, that means the ability to receive fiat, hold stablecoins, and execute global payments from one compliant interface, without switching between platforms or managing multiple banking relationships.
The Altitude deal adds another layer to that enterprise push, this time targeting Solana-native businesses managing cross-border treasury flows.
Sources:
MoonPay: MoonPay Enterprise Launch Announcement
PR Newswire: MoonPay Launches Virtual Accounts in New York
The Paypers: MoonPay Enterprise Stablecoin Platform
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One stock to keep an eye on is CNO Financial Group (CNO - Free Report) . CNO is currently holding a Zacks Rank #2 (Buy) and a Value grade of A.
Another notable valuation metric for CNO is its P/B ratio of 1.52. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.70. CNO's P/B has been as high as 1.75 and as low as 1.31, with a median of 1.50, over the past year.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. CNO has a P/S ratio of 1.1. This compares to its industry's average P/S of 1.11.
These are only a few of the key metrics included in CNO Financial Group's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CNO looks like an impressive value stock at the moment.
Dogecoin (CRYPTO: DOGE) is approaching a key technical breakout that could signal improving conditions across the broader altcoin market.
Will DOGE Break Out?Trader Mercury said on Wednesday that Dogecoin may serve as a useful gauge for how supportive the market is becoming for altcoins.
While several individual tokens have recently outperformed, Mercury noted that a broader altcoin rally has yet to fully develop.
He is watching Dogecoin’s 200-day moving averages and a major horizontal resistance level, with DOGE currently consolidating beneath both.
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A decisive breakout, he said, could indicate that liquidity is beginning to rotate beyond a small group of outperformers and into lagging altcoins.
Trader Tardigrade pointed to Dogecoin nearing a cup-and-handle breakout, with confirmation requiring a close above resistance, stronger volume and follow-through. A confirmed breakout could target $0.10.
Solana DOGE Isn’t Native DogecoinDogecoin developer Mishaboar expressed caution around the newly announced Dogecoin bridge to Solana.
He stressed that DOGE moved through the bridge does not become native Dogecoin on Solana.
Instead, native DOGE is held on the Dogecoin blockchain through a multi-signature arrangement controlled by third-party signers, while a corresponding token is issued on Solana.
That means users give up direct custody of their DOGE while it is bridged and rely on the system’s signers and redemption mechanism to recover the original coins.
Mishaboar described the Solana version as effectively a redeemable representation of DOGE rather than DOGE itself.
He warned that bridges introduce signer, custody and redemption risks, pointing to past crypto bridges that were hacked or eventually shut down.
Mishaboar urged Sunrise and Wormhole in an X post on Sept. 8 to disclose their custody setup and provide public proof-of-reserves so users can verify that bridged DOGE on Solana remains fully backed.
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Institutional participation in the cryptocurrency market appears to be waning, with data indicating a slowdown in overall momentum within crypto exchange-traded funds (ETFs). Fluctuating price activity among leading digital assets has coincided with a reduction in ETF market engagement from key investors.
XRP remains resilient amid ETF outflowsDespite a general decline in investor activity across major crypto ETFs, fresh data from SosoValue shows that XRP stood out as the only major digital asset to record net inflows in the latest trading session. ETFs tracking Bitcoin, Ethereum, and Solana all saw net outflows, while XRP investment products bucked the trend.
On September 8, XRP ETFs registered net inflows of $1.55 million, recovering from a previous session of zero participation. In contrast, Bitcoin ETFs recorded a combined $46.65 million in net withdrawals, with Ethereum ETFs seeing $24.29 million flow out and Solana ETF products experiencing $667,720 in outflows, according to the same data set.
Although XRP’s net inflow figure is modest compared to the total assets under management for crypto ETFs, the movement highlights a growing interest in regulated exposure to XRP. This stands in sharp distinction to the broader trend of outflows among its competitors.
Market shift signals changing investor prioritiesThe shift in ETF flows suggests that, at least in recent sessions, institutional investors may be evaluating their crypto allocations and potentially favoring XRP exposure within regulated frameworks. Analysts noted that despite the relatively small amount, the inflow gives XRP an edge in the ETF market for that period.
This renewed demand has also coincided with a minor rebound in XRP’s market price, with the asset recording a gain of approximately 3% over the previous day. Trading optimism has grown, with some traders targeting a potential rally toward the $2 level should positive momentum continue.
XRP has emerged as the sole major asset to attract new capital into its ETF ecosystem, while Bitcoin, Ethereum, and Solana saw continued withdrawals, highlighting shifting investor preferences in the current market environment.
Technical analysts are monitoring key levels in XRP’s price movements and ETF market performance, noting that investment flows can influence future price direction. This trend may be especially important if momentum carries through subsequent sessions.
Broader financial trends: Wall Street and Web3Analysts also point to broader financial industry trends, where traditional markets, long reliant on brokers and intermediaries, are witnessing fundamental shifts toward Web3 platforms. Companies such as 1stepSwap now allow investors to directly hold tokenized shares of U.S. companies, gold, and silver in their crypto wallets, removing intermediaries and facilitating instant price discovery through tokenization of real-world assets.
As the ETF landscape evolves, market participants are urged to closely track both asset flows and technical developments, with special focus on new avenues for regulated digital asset exposure.
Solana has emerged as the leading blockchain network in daily application revenue, according to the latest figures showing that its ecosystem applications generated approximately $6.56 million within a 24-hour window. This significantly surpasses competing chains and marks a period of both financial and technical recovery for Solana’s native token, SOL.
Revenue rankings among blockchainsData reveals that Solana far outpaced Robinhood Chain, which secured about $3.22 million in the same time frame. Binance Smart Chain (BSC) followed with $3.26 million, placing it narrowly ahead of Robinhood Chain but still well below Solana’s daily total. Hyperliquid L1, with around $1.94 million, exceeded Ethereum’s $1.59 million, shifting the traditional order among leading networks.
Notably, Base did not feature in the top five blockchains by daily application revenue. The consolidated rankings underline Solana’s dominant position, with its applications producing more than double the revenue generated by the Robinhood Chain ecosystem during the measured period.
Solana’s daily application revenue totaling $6.56 million reflects a broad surge in user activity and economic engagement across the network, distinguishing it from other major blockchains in this reporting window.
SOL price recovery and technical signalsSolana’s strong app revenue closely coincides with a notable recovery in the SOL token’s market price. SOL bounced back sharply from its June low of around $62 and is now trading near $104.40. August brought the largest technical breakthrough, as SOL surged beyond its key moving averages after stepping out of a protracted consolidation phase between $74 and $78.
At present, SOL is holding above the 20-day moving average at approximately $97.07, and remains well above the 200-day average, set near $91.38. The presence of the 50-day and 100-day averages in the $86 range further fortifies the support zone beneath SOL’s current price.
Following a brief stint in overbought territory, the relative strength index (RSI) has eased back to about 63, while trading volume has declined from its August peak. During this stabilization period, SOL has fluctuated mainly between $100 and $108. Market analysts highlight that a decisive move above the $108–$110 resistance band could unlock a potential rally toward $116 and possibly $120.
Economic trends and industry shiftsWhile app revenue and token price are independent metrics, Solana’s recent high revenue signals robust network activity and broader engagement within its ecosystem. The first psychological support for SOL rests near $100, reinforced by the strengthening 20-day moving average at $97, and backing from additional averages at lower levels.
Amid these dynamics, the blockchain industry is witnessing ongoing structural change. Whereas traditional markets often rely on complex intermediaries, a major transition is underway as Wall Street increasingly adopts Web3 strategies. Investors have begun turning to platforms such as 1stepSwap, which enable direct holding of top U.S. stocks, gold, and silver in crypto wallets. This evolution includes the tokenization of Real-World Assets (RWAs), with automated systems optimizing market pricing in seconds, effectively bypassing conventional middlemen.
Despite a strong showing in app revenue, industry participants continue to emphasize that a higher SOL price is not inherently assured by elevated application activity metrics, given the separation between network utility and token valuation.
Solana’s robust daily revenue remains a clear reflection of its position as a growth leader among public blockchain networks, as the search for technical and market breakthroughs continues.
South Korea-based digital asset wallet company IoTrust, led by CEO Sangsu Baek, unveiled a new brand identity for DCENT on September 8, marking the first major rebranding since the brand was launched eight years ago.
As part of the rebranding, the English brand name has changed from “D’CENT” to “DCENT,” removing the apostrophe, while the Korean brand name remains unchanged.
The new slogan, “Own your future. At ease.”, reflects DCENT’s commitment to keeping ownership of digital assets in the hands of users while reducing the burden associated with storing and managing them. The new wordmark and signature color, “DCENT Lime,” visually represent this direction.
Beyond the Name: Expanding the Digital Asset ExperienceThe rebranding goes beyond changes to the brand name and visual identity. Hardware wallets have evolved from devices used primarily for asset storage into access points for approving transactions, participating in staking, and using a wide range of digital asset services.
In line with this evolution, DCENT is expanding into a brand that provides a comprehensive digital asset experience encompassing storage, backup, management, and utility.
The key phrase behind the rebranding is “Beyond Storage.” It represents DCENT’s commitment to making the entire digital asset journey more convenient—from secure storage to backup, recovery, management, and use.
Unveiled alongside the rebranding, DCENT X is a premium hardware wallet that embodies this direction through its product experience.
DCENT X is a cold wallet that allows users to clearly review what they are signing on its 2.4-inch AMOLED display and approve it with a single fingerprint. With the addition of the touchscreen- and fingerprint-enabled DCENT X, DCENT now offers a broader range of options suited to different storage preferences and usage environments, alongside its biometric hardware wallet and the card-style DCENT S.
DCENT S and DCENT X both feature a backup and recovery method using the Recovery Card. This approach reduces the inconvenience of manually writing down and storing a recovery phrase and allows users to manage their recovery information through a separate physical card, improving the convenience of digital asset storage.
From Personal Wallets to Enterprise and Institutional SolutionsDCENT is also expanding beyond individual users to provide digital asset management environments for businesses and institutions.
About DCENT EnterpriseDCENT Enterprise is an institutional solution designed to help businesses and institutions securely store and manage digital assets. It supports internal control mechanisms such as multi-level approvals, enabling organizations involving multiple authorized personnel to manage digital assets according to their internal policies.
Connecting personal hardware wallets and organization-level digital asset management solutions under a single DCENT brand represents the direction of the company’s business expansion through this rebranding.
“This rebranding marks the beginning of DCENT’s expansion beyond an asset storage device into a digital asset experience brand that connects backup, recovery, management, and utility,” said a representative of IoTrust. “We will continue to expand our business by broadening the options available to individual users through DCENT X and DCENT S, while supporting the digital asset management environments of businesses and institutions through DCENT Enterprise.”
DCENT currently supports more than 100 blockchain networks and over 10,000 tokens, including Bitcoin (BTC), Ethereum, XRP Ledger, Solana, and Stellar (XLM).
Solana is poised to demonstrate that it is still the OG blockchain.
From an on-chain perspective, September got off to a good start. However, the majority of the early gains were driven by Robinhood Chain, which experienced a significant increase in DEX volume, transactions, and RWA adoption.
This naturally raised questions about whether Solana was losing some of its edge.
The most recent information, however, suggests that Solana is regaining its momentum. Following a brief loss of the number one position in terms of daily DEX volume to Robinhood Chain, Solana recovered in less than 72 hours.
It is now back above $2 billion per day in terms of DEX volume and is outpacing Robinhood Chain by a considerable margin.
Source: Artemis Notably, the address activity tells a similar story. According to the Token Terminal data, Solana boasts around 10x higher active addresses than Robinhood Chain, which speaks of the network’s activity difference.
In short, there is still no doubt about SOL’s demand. Even though Robinhood’s airdrop has attracted many new users, Solana’s fast adoption rate has not diminished any of the activity.
According to AMBCrypto, this is where the chart above begins to hold serious weight.
Like the chart shows, Solana is dominating x402 activity, outpacing Base and others for the second week in a row. Solana now comprises over 80% of total activity, suggesting growing adoption in the space of AI agents and stablecoin payments.
That gives Solana’s recent surge a more fundamental angle: its success is not only being driven by DEX activity but also by emerging agentic payments use cases.
In this regard, Solana [SOL] seems to be pulling ahead of Robinhood Chain, raising the question of whether the recent whale accumulation is being driven more by conviction than speculation.
Solana’s H2 rally is just getting started Solana is showing one of the most bullish technical setups in crypto at the moment.
From a technical perspective, SOL has closed its first green monthly candle in 10 months, with the monthly MACD nearing a bullish crossover. On the monthly chart, the RSI has broken above a two-year downtrend, suggesting that long-term momentum could be turning in favor of SOL.
In this regard, the Lookonchain data recently showed that a whale accumulated 285,503 SOL during the past three weeks, which makes the movement look more like a strategic move than a random one.
However, despite the recent bullish signs, analyst Ansem argues the market is not yet bullish enough.
Source: X Now, this is where Solana’s fundamentals start to matter.
While the recent shift in network traffic towards Robinhood may have rattled some, Solana’s technical and fundamental conviction is proving far more resistant to pressure.
If anything, the network is already regaining momentum across both DEX and agentic activity, making Ansem’s bullish thesis look less far-fetched.
With technicals trending higher, on-chain activity picking up, and Solana dominating the agentic transaction landscape, the fundamentals are proving increasingly difficult to ignore.
This could help explain why recent whale accumulation may just be the start of a deeper accumulation phase ahead.
Final Summary Solana is gaining momentum, with stronger activity across DEXs and agentic transactions.
Whales may be buying for the long term, as Solana’s fundamentals continue to improve.
Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
4 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
4 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
4 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
4 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
4 minutes ago
a16z Crypto releases open-source zkVM Lattice Jolt, with quantum-resistant capabilities.
a16z Crypto has announced the release of a new version of its open-source zero-knowledge virtual machine (zkVM), Lattice Jolt. The update switches the underlying cryptography from elliptic curves to lattice cryptography, making the system quantum-resistant, and boosts both prover and verifier speeds by 2 to 3 times. Its proof size currently stands at under 100KB, which a16z Crypto claims is the smallest proof of any post-quantum zkVM. Lattice Jolt uses a novel polynomial commitment scheme called Akita, built on the Module-SIS lattice hardness assumption, with a target 128-bit security level. Akita was developed by LayerZero’s research and engineering team in collaboration with teams from Carnegie Mellon University, the University of Southern California, and a16z Crypto. Performance-wise, Lattice Jolt can prove over 2 million RISC-V cycles per second on a CPU-only device; with Apple Metal GPU acceleration, it exceeds 10 million cycles on a MacBook. The prover’s memory footprint has also dropped from roughly 300 bytes per cycle to 200 bytes, supporting proof generation for millions of compute cycles on mobile phones. The project will add additional zero-knowledge functionality via an upcoming academic paper.
US-listed XRP ETFs saw $1.55 million in inflows on September 8, the largest among 12 spot crypto fund groups. Only Hedera (HBAR) products joined them, with $431,180.
Four groups lost money, and six recorded no flow at all. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) had not all fallen on the same day since July 9.
Bitcoin, Ethereum, and Solana Bled Together for the First Time Since JulyBTC funds lost $46.65 million, the heaviest loss in the group. Ethereum products followed with $24.29 million. Solana products shed a slimmer $667,719.
Those three had not fallen together in the previous 41 sessions. Hyperliquid (HYPE) funds lost $12.96 million, erasing the $10.52 million they collected on September 4.
Those four accounted for every dollar that left, $84.56 million in total, according to SoSoValue records.
US Spot Crypto ETF Net Flows Across 12 Groups, September 8, 2026. Source: SoSoValue/BeInCryptoFollow us on X to get the latest news as it happens
For XRP, Franklin’s XRPZ fund absorbed the entire $1.55 million inflow. The Bitwise, Canary, 21Shares, and Grayscale products all printed zeros.
The Avalanche (AVAX), BNB (BNB), Dogecoin (DOGE), Polkadot (DOGE), Chainlink (LINK), and Litecoin (LINK) funds all printed zeros. Momentum had already drained from the altcoin groups the previous week.
Monthly figures read softer than the daily numbers. Bitcoin funds still hold a $723.5 million gain for September, while Ethereum products sit on $106.43 million.
XRP funds have added $14.86 million this month, ahead of Solana at $4.58 million. Dogecoin and Hyperliquid are the only groups underwater for September.
The two groups that drew money also led the field on price. Hedera has gained 7.4% over seven days, XRP 7%, and Bitcoin 2.2%.
XRP Price Performance. Source: BeInCrypto MarketsXRP changed hands near $1.44 on Tuesday, up 4.06% over 24 hours. Hyperliquid rose 3.3% to $86.77, while Solana added 2.03%.
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Franklin Crypto executive Chris Perkins defended Robinhood Chain as an “incredible unlock” on Monday’s Bits + Bips, a day before Bernstein told clients the network had become a source of earnings, then said the memecoin activity driving much of its volume is “not an investment.”
Memecoins push Robinhood chain past Solana, BNB in fees
Original Image Credit: Mijansk786 / Shutterstock.com
Posted September 9, 2026 at 11:02 am EST.
Robinhood launched its own blockchain on July 1 and spent the summer fielding questions about what it was for. Chris Perkins, head of Franklin Crypto, used Monday’s episode of Bits + Bips to answer one of them, and a day later Bernstein told clients the same thing in different words.
“I wanna defend Robinhood Chain here for a second because I thought it was an incredible unlock. They are printing money,” Perkins said on the show, recalling being in London for the launch. He praised how the company built the network, calling it “the DeFi mullet in action,” an industry phrase for a mainstream front end running on DeFi rails behind the scenes.
Bernstein’s analysts, led by Gautam Chhugani, told clients in a Tuesday note that they were keeping an Outperform rating and a $160 price target on Robinhood Markets. “The chain is now earnings,” they wrote, putting daily trading fees at $2 million to $4 million. Over the previous 15 days the network led every other chain with roughly $33 million. Solana took about $11 million in the same stretch, and BNB Chain close to $9 million. Nearly 90% of that revenue stays with Robinhood, the analysts said, with about a tenth going to Arbitrum, whose technology the chain runs on, and under 1% to Ethereum.
The Fees Are Only Days Old The money arrived fast. Robinhood Chain has taken in $23.8 million in fees over the past seven days against $33.5 million over 30, meaning roughly 71% of its month came from its last week, DefiLlama data shows. Solana collected $4.3 million over the same seven days.
What the Fees Are Made Of Much of the activity is memecoins paired against thinly traded stocks. Host Austin Campbell said on the show that FARMI, a Nasdaq-listed Chinese dried mushroom seller with 15 employees, ran 350% on Wednesday with 720 million shares changing hands, about 90 times its average, after a memecoin using its ticker began trading on Robinhood Chain. Campbell compared the pattern to bucket shops, saying “capitalizing on thinly traded names at off hours to push price” was the same behavior.
Perkins, asked directly about it in the next segment, did not defend that part. “I think it’s a game,” he said. “It’s not an investment.” He called the equities linkage “GameStop 2.0,” said anyone playing is “probably gonna lose money” and added that manipulating these markets is illegal where the assets are commodities. On the chain permitting it at all, he said, “people can do what people feel like doing,” and called that “part of the things of running a decentralized chain.”
Related Listen: Why Robinhood Chain Saw Memecoins Take Off Before Real World Assets
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In July, Brazil’s Securities and Exchange Commission, the CVM, created a dedicated Tokenization Working Group to study the registration, custody, trading, and settlement of securities using distributed ledger technology.
The group has also been tasked with proposing an experimental regulatory regime for tokenized securities, placing tokenization directly within the regulator’s agenda for the modernization of Brazil’s capital markets.
Meanwhile, Brazilian tokenization platform Liqi Digital Assets and XDC Network have renewed their partnership for another two years and raised the total targeted issuance from $500 million to $2 billion through 2028.
The new agreement consists of the original $500 million, which the companies say has already been completed, alongside a further $1.5 billion in planned issuance.
Liqi Reached Its Original $500 Million Target Nine Months Early The expansion follows faster-than-expected issuance under the companies’ first agreement.
Liqi and XDC initially signed their partnership in April 2025, setting a target of up to $500 million in real-world assets over 24 months. According to the companies, that target was reached in roughly 15 months, nine months ahead of schedule.
This makes Liqi the largest issuer of yield-bearing assets on XDC, according to the company. The company says approximately $835 million has now been tokenized across 386 series and 60 asset pools, supported by 378 smart contracts deployed on XDC mainnet.
Daniel Coquieri, CEO and co-founder of Liqi Digital Assets, said the original target was set at a time when institutional demand was harder to gauge.
“We signed the first agreement with a target that looked aggressive: half a billion dollars in two years. We delivered in fifteen months, because Brazil’s structured credit market was already there – what was missing was the infrastructure. We tripled the commitment because demand tripled. What we are building is not a blockchain pilot: it is the rail that regulated banks and originators run credit through, with auditable collateral and on-chain settlement.”
Under the renewed agreement, XDC will remain Liqi’s exclusive blockchain for RWA issuance. The companies intend to expand into additional forms of structured credit, trade finance and receivables generated by larger originators.
Tokenized Credit Is a Growing Part of the RWA Market The credit focus is key because the RWA market is expanding beyond the tokenized US Treasury products that drove much of its earlier institutional growth.
RWA.xyz currently tracks $7.82 billion of distributed tokenized credit and another $37.73 billion of represented credit assets across more than 2,500 assets. The category includes corporate credit, structured credit, specialty finance and other forms of non-sovereign debt.
Tokenized Credit Market Snapshot as of September 9, 2026. Source: RWA.XYZ Liqi’s activity sits within this part of the market. According to the company, assets already issued on XDC include trade receivables, payroll-deductible loans, debentures, corporate credit and Brazilian receivables certificates. Issuances have involved institutions including Itaú BBA, Banco BV, Banco ABC Brasil and Creditas.
Diego Consimo, Head of LATAM at XDC Network, said:
“These are structured credit operations, originated within the regulated financial market, that now use blockchain as an effective part of their infrastructure.”
For XDC, securing additional issuance also strengthens its exposure to the RWA sector at a time when competition between blockchains for tokenized assets is growing.
Ethereum currently leads distributed RWA value with around $17.6 billion, followed by BNB Chain, Solana and Stellar, according to RWA.xyz.
Brazil Brings Tokenization Into Capital Markets Brazilian regulators are also increasing their focus on how tokenized assets should operate within the existing financial system.
The CVM’s new working group includes representatives from 14 areas of the regulator and has already begun discussions with organizations including ANBIMA, ABCripto, ABToken and other capital-market participants. Its mandate includes examining custody, registration, trading and settlement using DLT systems.
Brazil’s Central Bank has separately explored tokenized finance through Drex, a DLT-based environment designed for regulated financial intermediaries and programmable financial services.
Commercial issuance and regulatory development are therefore beginning to come together. Credit instruments can already be created and settled through blockchain systems, while regulators are working through how those systems should interact with established securities-market rules.
The Liqi-XDC agreement offers an indication of the volumes that could follow if institutional adoption continues. However, the $2 billion commitment remains a forward target rather than completed issuance, with $1.5 billion still scheduled to be brought on-chain during the next two years.
For Brazil’s tokenization market, reaching that target would show that tokenized credit can progress from comparatively small deployments into repeat issuance involving regulated banks, originators and established financial instruments.
SEC filing documents surfaced online purportedly show new listing standards that would explicitly name XRP alongside Bitcoin, Ethereum, Solana and Litecoin as eligible commodities for a new class of exchange-traded products, according to a post from independent crypto news account RippleXity, which is not affiliated with Ripple Labs.
Nasdaq Texas filed a proposed rule change with the SEC on August 20 to amend Rule 5711(d), governing generic listing standards for Commodity-Based Trust Shares. The alleged unpublished documents show that the SEC published notice of the filing, with an order granting accelerated approval, on September 3, with the document scheduled to appear in the Federal Register on September 9.
According to excerpts shared by RippleXity, the filing outlines examples of how a proposed 15% buffer allowance would apply, including a scenario in which a Commodity-Based Trust Share holds 95% of its net asset value in Bitcoin, Ether, Solana and XRP, structured to qualify as “eligible commodities” under Rule 5711(d)(iv)(A)(2) and (3).
The proposed changes would reportedly allow up to 15% of a trust’s net asset value to consist of assets that don’t meet standard eligibility criteria, introduce a formal definition for “digital commodity,” and permit actively managed strategies within these products.
Other mainstream outlets have not independently confirmed the contents or authenticity of the filing excerpts as presented. The claims originate from RippleXity, a self-described independent, community-powered news platform built on the XRP Ledger that states it is not affiliated with Ripple or Ripple Labs Inc.
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Robinhood, the American financial services company known for its commission-free trading platform, launched its own blockchain, Robinhood Chain, on July 1. This new venture quickly became a focal point in the decentralized finance (DeFi) community throughout the summer, raising questions about its purpose and business strategy.
Network earnings surgeChris Perkins, who leads Franklin Crypto, addressed these questions on the Bits + Bips podcast, describing Robinhood Chain as an “incredible unlock” for the company. He commended the blockchain’s architecture, referring to it as the “DeFi mullet in action,” an industry term for platforms with a user-friendly interface running on sophisticated DeFi technology.
Market research firm Bernstein, led by analyst Gautam Chhugani, issued a note to clients maintaining an Outperform rating and setting a $160 price target for Robinhood Markets. Bernstein reported that Robinhood Chain’s daily trading fees reached between $2 million and $4 million, placing it ahead of other major blockchains in recent weeks.
During a 15-day period, Robinhood Chain generated approximately $33 million in trading fees, outshining Solana with $11 million and BNB Chain with roughly $9 million. Almost 90% of Robinhood Chain’s revenue flows directly to Robinhood, while about 10% goes to Arbitrum, the technology platform the blockchain is built on. Less than 1% is paid to Ethereum for settlement services.
DefiLlama data indicated that Robinhood Chain amassed $23.8 million in trading fees over the most recent seven days, representing roughly 71% of its $33.5 million total for the previous 30 days. By comparison, Solana collected just $4.3 million in fees in the same week.
Blockchain7-Day Fees15-Day Fees30-Day FeesRobinhood Chain$23.8 million~$33 million$33.5 millionSolana$4.3 million$11 millionData not specifiedBNB ChainData not specified~$9 millionData not specifiedArbitrum is a layer-2 scaling solution designed for Ethereum, offering faster and cheaper transactions by processing them off the main Ethereum chain and then sending the summary proofs back to the mainnet.
Mini dictionary: Arbitrum, a leading Ethereum layer-2 rollup solution, enables greater scalability for decentralized applications by using off-chain processing while maintaining compatibility with Ethereum smart contracts.
Growth fueled by memecoinsA significant portion of Robinhood Chain’s activity centers around memecoins, which are often paired with thinly traded stocks. On the Bits + Bips podcast, host Austin Campbell highlighted an example involving FARMI, a Chinese dried mushroom company listed on Nasdaq with only 15 employees. Following the launch of a memecoin using its ticker, FARMI shares surged 350% in a single day, with 720 million shares trading hands—90 times the normal volume.
Perkins described the situation as “GameStop 2.0,” warning that “anyone playing is probably gonna lose money” and stated that market manipulation with such assets is illegal when they are considered commodities.
Campbell likened this activity to “bucket shops,” referencing entities that profit by exploiting thinly traded assets outside conventional market hours to push prices.
When questioned directly, Perkins refrained from supporting this aspect of Robinhood Chain. He characterized the equities-linked memecoin trend as more of a game than an investment, emphasizing the risks and reinforcing that decentralized chains enable such speculative behavior.
While discussing the permissiveness of the platform, Perkins noted, “people can do what people feel like doing,” describing it as an inherent feature of managing a decentralized blockchain.
This recent surge in memecoin trading has raised new questions about the responsibility of blockchain operators in overseeing market activity, especially when traditional equity tickers are involved in speculative crypto assets.
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
3 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
3 minutes ago
Bubblemaps: 80% of LAPTOP traders are losing money, with two traders suffering losses ranging from $100,000 to $1 million.
Bubblemaps posted that profit and loss data for LAPTOP traders shows roughly 80% of participants are in the red, describing the token’s market performance as a "bloodbath". Specifically, two traders lost between $100,000 and $1 million, 100 lost over $10,000, 700 lost more than $1,000, and around 11,000 traders posted small losses. Bubblemaps did not further disclose the statistics’ time frame or the scope of the wallet sample used.
3 minutes ago
a16z Crypto releases open-source zkVM Lattice Jolt, with quantum-resistant capabilities.
a16z Crypto has announced the release of a new version of its open-source zero-knowledge virtual machine (zkVM), Lattice Jolt. The update switches the underlying cryptography from elliptic curves to lattice cryptography, making the system quantum-resistant, and boosts both prover and verifier speeds by 2 to 3 times. Its proof size currently stands at under 100KB, which a16z Crypto claims is the smallest proof of any post-quantum zkVM. Lattice Jolt uses a novel polynomial commitment scheme called Akita, built on the Module-SIS lattice hardness assumption, with a target 128-bit security level. Akita was developed by LayerZero’s research and engineering team in collaboration with teams from Carnegie Mellon University, the University of Southern California, and a16z Crypto. Performance-wise, Lattice Jolt can prove over 2 million RISC-V cycles per second on a CPU-only device; with Apple Metal GPU acceleration, it exceeds 10 million cycles on a MacBook. The prover’s memory footprint has also dropped from roughly 300 bytes per cycle to 200 bytes, supporting proof generation for millions of compute cycles on mobile phones. The project will add additional zero-knowledge functionality via an upcoming academic paper.
3 minutes ago
Vitalik: Hopes EIP-8288 will be included in the I-star Upgrade to significantly reduce the cost of quantum-secure transactions
Ethereum co-founder Vitalik Buterin has published a post detailing the recursive STARK mempool proposal EIP-8288, which he aims to include in Ethereum’s I-star upgrade following the Hegota upgrade. The proposal cuts on-chain computation and data costs by offloading signatures and proofs from Ethereum’s core execution path and recursively aggregating STARKs within the mempool. Vitalik noted that the solution supports low-cost quantum-secure signatures and privacy protocols, with the cost of quantum-secure private transactions projected to drop from around 10 million Gas to tens of thousands of Gas. It is also compatible with new signature or proof schemes such as Falcon and ML-DSA without modifying the EVM, while enabling private account abstraction. Per the design, nodes will periodically aggregate transaction dependencies and generate recursive STARKs, and block builders will produce proofs for transactions slated for inclusion in blocks. Each block’s additional on-chain overhead is approximately a 100–300 KB STARK, plus 96 bytes of data per statement to be proven. The scheme may also drive Ethereum to adopt RISC-V as the standard instruction set for recursive STARKs.
