XRP Ledger developers disclosed on Oct. 9 that an integer overflow bug in the network’s payment engine could have let an attacker create new XRP out of nothing, breaking the 100 billion token supply cap set when the ledger launched in 2012. The flaw was patched in the xrpld 3.4.1 software release on Sept. 25, and RippleX said it found no evidence the bug was ever exploited on a public network, according to the official vulnerability disclosure report.
The bug was reported through the XRPL bug bounty program by researcher Cayden Liao and Veria AI on Sept. 22. RippleX engineers reproduced the attack on a standalone server, confirmed the newly created XRP could be spent in a follow-up transaction, and raised the finding’s severity from major to critical.
How the Bug Could Have Minted XRP The vulnerability sat in the payment engine’s overflow handling. When a single payment consumed many offers on the ledger’s built-in exchange, the software summed what the buyer owed using 64-bit integer addition with no overflow check. A few hundred offers, each asking for a very large amount of XRP, could push that total past what a 64-bit number can hold, wrapping it around to a tiny value. Each offer owner was then paid in full while the buyer was charged only the wrapped total, leaving newly minted XRP in the attacker’s accounts.
Two safety checks should have caught this and did not. The ledger’s “no XRP created” invariant sums net balance changes the same way, so it wrapped around identically and saw nothing wrong. A per-account balance check only fails when a single account holds more than the total supply, which the attack avoided by spreading the minted XRP across hundreds of accounts.
Why the Fix Skipped the Amendment Process Changes to how the XRP Ledger processes transactions normally ship through an amendment process, in which a new rule stays dormant until more than 80 percent of trusted validators support it for two weeks. RippleX deliberately skipped that process for the first time since it was introduced more than ten years ago, because the exploit was cheap, required no special access, and could have minted spendable XRP. Since xrpld is open source, a fix published through the normal route would have sat visible but still exploitable on mainnet for weeks.
The shortcut carried its own risk of a mixed-version network halt, but normal transactions never reach the vulnerable code path. More than 80 percent of default UNL validators were running 3.4.1 on the day it was released, before the source code was published.
What It Means for XRP’s Fixed Supply The episode underscores how much of XRP’s value proposition depends on its supply being provably finite. All 100 billion tokens were created at launch, and institutions building on the ledger treat that cap as a guarantee. The bug had been present since the current payment engine was written in 2015, yet RippleX found no evidence it was ever exploited.
The same release also fixed a separate Batch transaction wrapper validation flaw, which was activated on mainnet on Oct. 9. RippleX said it is adding a re-verification step to its release process so every security finding marked as fixed is re-tested against the release candidate. The disclosure arrives as the XRP Ledger continues to add institutional features, including permission delegation for banks and stablecoins, while XRP’s supply and escrow dynamics remain in focus for holders.
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Cryptocurrency analyst Bird, known on X as @Bird_XRPL, has identified a technical formation on XRP’s 4-hour chart that closely resembles two previous setups which each preceded sharp price increases. Bird points to a developing third descending resistance trendline, noting that XRP is approaching important support regions and could be primed for another significant move.
The repeating chart setupBird’s analysis covers the period from July to October on Binance’s XRP/USD trading pair. On the chart, three downward-sloping resistance lines, colored in orange, appear at different stages. In previous cases, XRP experienced strong rallies after breaking through the first two trendlines.
Recalling recent history, the first breakout resulted in a rapid rally in August, which saw XRP surge more than 50% within 65 hours. The second breakout coincided with a more recent price jump, as XRP found support and rebounded sharply.
Bird highlights, “Three similar structures, one very interesting possibility.” He suggests that a similar outcome could follow if the pattern repeats for the third time, provided that XRP maintains its support levels and breaks the current resistance.
The new descending trendline now limits gains as price action consolidates close to both a key demand area and a steadily rising support line.
Mini dictionary: Binance is one of the world’s largest cryptocurrency exchanges by trading volume, offering spot and derivatives trading of a broad range of digital assets.
Key levels and breakout targetsThe chart indicates a long-term ascending support trendline, colored white, which extends from below $1 and continues through October. A significant demand zone is outlined between $1.30 and $1.34, while notable resistance is concentrated in the $1.52 to $1.56 area.
At the time of Bird’s post, XRP traded at $1.3986, having pulled back from a recent high near $1.60 and settling just above the demand region. The price sits immediately above the ascending support and is approaching a technical decision point under the current descending trendline.
LevelZoneSignificance$1.30 – $1.34DemandKey support$1.52 – $1.56ResistanceBreakout trigger$2.00TargetProjected upsideThe analyst’s expectationsBird projects that if XRP breaks through the $1.52 to $1.56 resistance range, it could open the door for a move toward $2.00. This target is illustrated by a green arrow on Bird’s chart, representing a potential gain of roughly 43% from XRP’s current level. However, he cautions that confirmation above resistance is needed, along with sustained support at the $1.30 to $1.34 demand zone.
Bird notes no specific timeline for this possible breakout but states he is watching the setup closely as the third descending trendline develops.
The analyst underscores that a definitive move requires validation through a decisive breakout on strong volume, as technical patterns do not guarantee outcomes.
Bird is a chart analyst focused on the XRP Ledger ecosystem. While technical analysis provides insight into market structure and trader sentiment, price forecasts remain subject to change based on broader market conditions and investor behavior.
Evernorth is set to enter the Nasdaq marketplace under the ticker XRPN following its recent business combination with Armada Acquisition Corp. II. The digital asset treasury company, which is focused on the XRP ecosystem, will begin trading as a public entity on Monday, October 12.
Evernorth’s vision and operationsEvernorth, led by CEO Asheesh Birla, specializes in digital asset treasury services and is deeply integrated with XRP. Currently, Evernorth holds around 473 million XRP tokens as part of its core holdings. The company has raised over $1 billion through its recent merger and related private investments, positioning itself as a publicly traded vehicle that enables institutional investors to access the XRP ecosystem in a regulated manner.
Asheesh Birla explained that Evernorth’s mission transcends simply holding assets. He stated that the company aims to actively engage with the XRP Ledger by deploying capital, supporting liquidity, and collaborating with builders to drive the growth of the institutional infrastructure needed for digital asset adoption.
Birla outlined his outlook, stressing that “finance has always moved slowly, and the infrastructure underneath can be even slower.” He described Evernorth’s launch as a pivotal move toward accelerating this pace and bringing digital assets into mainstream institutional finance.
The company’s approach involves hands-on participation in developing the XRP ecosystem, rather than taking a passive role. With its public listing, Evernorth offers institutional investors a new entry point to gain regulated exposure to XRP and the associated technology infrastructure.
Mini dictionary: Evernorth is a digital asset treasury platform designed to provide institutional investors with regulated access to XRP and its infrastructure by holding, managing, and deploying large digital asset reserves.
Birla’s outlook for financial infrastructureIn an open letter, Birla detailed his five-year perspective on the evolution of finance’s foundational systems. He identified two primary obstacles that have hindered blockchain adoption in mainstream finance: underdeveloped technical infrastructure and a lack of legal clarity. However, Birla believes these issues are now being resolved.
He referenced the passage of the first federal law on payment stablecoins in the US in 2025 as a milestone, expressing confidence that further clarity for the wider digital asset market is forthcoming. Birla also noted that blockchain technology offers significant speed improvements compared to legacy financial settlement systems, which he described as operating as though it were still the 1970s.
Birla emphasized that the tokenization of assets—including equities, bonds, real estate, and commercial properties—can transform them into programmable, instantly transferable digital financial instruments. Such assets, according to Birla, could autonomously execute interest payments and transactions based on embedded programmatic conditions.
XRP’s role in Evernorth’s strategyXRP and the XRP Ledger form the cornerstone of Evernorth’s operations. By listing publicly, Evernorth introduces a regulated, exchange-traded product that connects institutional investors directly to the XRP ecosystem.
Evernorth’s active management strategy aims to enhance liquidity on the XRP Ledger, thereby increasing ongoing demand for XRP tokens. In a planned milestone, the company is scheduled to ring the Nasdaq closing bell on October 14, marking the start of trading under the XRPN symbol from October 12.
Birla concluded his letter by forecasting a substantial migration of financial activity to blockchains. He believes this transition will take place “sooner and on a larger scale than most in finance currently anticipate.”
Birla projects that more financial transactions will shift to blockchain platforms sooner than most traditional institutions expect, driven by improvements in technology and regulation.
Ripple’s development team, RippleX, announced that they have patched a critical security vulnerability in the XRP Ledger (XRPL) network that is believed to have existed for approximately 11 years and could have allowed attackers to mine billions of XRP without paying anything.
According to a security report published on October 9th, a software flaw was discovered in the XRP Ledger’s payment engine, believed to have existed since 2015. This vulnerability could have allowed malicious actors to violate XRP’s supply rules, create new coins, and spend them as if they were regular XRP.
RippleX stated that there is no evidence that the vulnerability has been exploited on any public network.
Attackers Could Have Generated Billions of XRP On September 22, 2026, a security vulnerability reported under the XRP Ledger bug bounty program was identified as stemming from a 64-bit integer overflow error in the payment engine.
Normally, the XRP Ledger has security controls that prevent the creation of new XRP. However, researchers have shown that these controls can be bypassed if hundreds of specially crafted buy and sell orders are used in a single payment transaction.
In this scenario, the system was able to fully process XRP payments to order holders while only collecting a very small portion of the actual amount due from the recipient.
Moreover, the security mechanism that checks whether new XRP was created was also affected by the same mathematical error, allowing transactions to be deemed valid.
RippleX engineers recreated the vulnerability in an independent test environment, confirming that XRP extracted using this method could be spent in subsequent transactions.
According to the report, initially only a few hundred XRP would have been enough to reserve in accounts and orders to carry out the attack. However, the attack required specific conditions that could not have occurred spontaneously through normal market transactions.
Ripple Patches Yet Another Security Vulnerability The security report explained that, in addition to the error that could lead to XRP mining, another security vulnerability in the batch processing mechanism was also fixed.
This bug, reported on September 18th, was capable of causing validators using different software versions to evaluate the same operation differently.
In such a situation, the verification of new blocks on the XRP Ledger network could temporarily stop.
However, since the feature in question had not yet been enabled on the main network when the vulnerability was discovered, no user balances were affected and there were no reconciliation issues on the network.
Both vulnerabilities were fixed in xrpld version 3.4.1, released on September 25th. The fixBatchV1_2 update, which enables a fix related to the batch mechanism, was deployed on the mainnet on October 9th.
*This is not investment advice.
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A key divergence might be taking shape within XRP’s current market structure.
On the macro level, the asset is following the general market weakness. Down more than 7% this week, XRP has broken below $1.5. However, this is in line with the broader risk-off move that saw the total crypto market value drop more than 4%, pushing high-caps below crucial support levels.
But what happens when the market reverts to risk-on? Given XRP’s current positioning, it wouldn’t be surprising to see it lead the charge in the next wave of risk-on flows. To begin with, Evernorth has completed its SPAC merger with Armada II, bringing approximately 473 million XRP and $300 million in gross cash proceeds into the public markets.
Source: X For context, the 473 million XRP figure represents the amount of XRP that Evernorth holds in its treasury. Thus, by embarking on this merger with Armada II, Evernorth is enabling the firm to enter the public markets and provide investors with an alternate avenue for gaining exposure to Ripple [XRP].
According to AMBCrypto, this is where the divergence gets interesting.
Data from SoSoValue shows XRP ETFs continuing to see net inflows, despite BTC and ETH ETFs recording outflows. XRP ETFs also clocked $67 million in daily trading volume.
The key takeaway? Franklin Templeton is beginning to close the gap with Bitwise, in terms of daily volume. Bitwise previously led by a large margin, but Franklin is now beginning to catch up, pointing to growing activity across XRP ETF products.
XRP ETF inflows defy BTC and ETH as strategic positioning builds Notably, Evernorth’s merger and upcoming XRPN trading can be a beginning of a more significant trend.
On the fundamental side, the XRP Ledger is also seeing progress. The latest upgrade introduces delegated key controls for banks, stablecoin issuers, and tokenized funds. In essence, businesses can grant permission to a particular account to approve customers on separate accounts while keeping their primary wallet keys offline.
Such a feature might make the XRPL much more attractive to institutional players that want to exercise greater control and security over digital assets. In addition to this, XRPL’s emerging agentic economy is another indicator of increased activity on the ledger. As the post below shows, it has already achieved a record 13 million with 166 x402 merchants.
Agentic payments are currently representing approximately 25% of its ledger activity. If this trend continues, it is likely to cross the 100 million milestone in roughly 12 months.
Source: X Together, these signals suggest that XRP’s recent divergence may be more than a random capital rotation.
With Evernorth’s merger, upcoming XRPN trading and increased XRPL activity, XRP’s ETF inflows reflect a more “strategic” capital rotation, even as the broader market faces weakness. Should this development persist and the market turn risk-on, XRP could be well-positioned to lead the next leg of capital rotation.
Final Summary XRP ETFs are seeing inflows despite BTC and ETH ETF outflows, while Evernorth’s merger adds to growing institutional interest.
With XRPL activity rising and new upgrades rolling out, XRP could lead the next market recovery if sentiment turns bullish.
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.
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The overall crypto market is currently going through a bearish phase, but Ethereum [ETH] still managed to lead the stablecoin market cap growth over the past week.
According to Token Terminal data, Ethereum’s stablecoin market capitalization increased by $243.4 million, followed by Arbitrum One with $108.6 million and Base with $51.1 million.
Together, these three networks recorded a $403.1 million increase in stablecoin market capitalization in the past seven days.
Source: Token Terminal Ethereum is making headlines but… However, this growth does not automatically mean that more users are entering these networks or there will be an increase in price.
This is because ETH was trading at $2,492.27 at press time after a modest drop in the past 24 hours but a 7.1% drop in the past week. Interestingly, this comes soon after a recent report by AMBCrypto, which highlighted that ETH has found a new support around $2,535–$2,559, with $2,565 emerging as a key level to watch.
At the same time, the RSI was trading slightly above the neutral line, suggesting that the bulls were there but not that strong. Whereas, the narrowing Bollinger bands hinted at low volatility and price consolidation.
Meanwhile, the ETH ETFs saw outflows worth $634.80 million in October so far.
Source: SoSo Value Are the metrics too bleak at the moment? Additionally, Ethereum’s derivatives market for the month of October further suggests that leveraged positioning is beginning to cool.
Source: Santiment According to the chart, Ethereum’s total Open Interest (OI) in USD rose sharply from around $12 billion in mid-August to nearly $18 billion in late September, indicating increased capital committed to outstanding ETH futures and derivatives positions.
However, OI subsequently declined, reaching approximately 15.42 billion by the 10th of October. Meanwhile, the Network Realized Profit/Loss indicator fluctuated around zero during October, with occasional positive and negative spikes before nearing -121K.
So, for Ethereum, the key question now is whether OI stabilizes as ETH prices move or continues declining. This in turn could help determine whether traders are rebuilding conviction or becoming more cautious.
Final Summary Ethereum, Arbitrum One, and Base recorded a $403.1 million increase in stablecoin market capitalization in the past seven days. Meanwhile, Ethereum’s derivatives market for the month of October suggests that leveraged positioning is beginning to cool.
Investors pulled $56.1 million from US spot Ethereum ETFs on October 9. The ninth straight day of withdrawals came entirely from BlackRock’s fund.
These funds let investors own ETH through an ordinary brokerage account. Since September 29, they have shed about $697 million, erasing most of the $850.8 million they drew in the seven sessions before.
Ethereum ETF Outflows Match June’s 9-Day RunThe streak now equals a nine-day run of withdrawals from June 17 to June 30, according to BeInCrypto’s Ethereum ETF streak coverage.
Total assets across the funds stand at $15.71 billion, per SoSoValue. That is down from nearly $17.9 billion in late September.
Ethereum ETF outflows daily chart showing nine red sessions, Source: SoSoValueMeanwhile, ETH trades at $2,496, little changed over 24 hours, according to BeInCrypto’s Ethereum price data. It held $2,715.50 on October 2.
Bitcoin (BTC) funds moved the other way on Friday, taking in $21.13 million. However, that followed a $729 million exit across October 7 and 8.
Bitcoin Spot ETFs See $21.13M in Net Inflows; Ethereum ETFs Post Ninth Consecutive Day of Outflows on Oct. 9 (ET)
According to SoSoValue data, U.S. spot Bitcoin ETFs recorded $21.13 million in net inflows on October 9 (ET), with BlackRock’s IBIT attracting $22.38 million and… pic.twitter.com/B6JfmqMiPj
— Wu Blockchain (@WuBlockchain) October 10, 2026 The retreat from ETH also showed up on Binance. Customers there cut 183,602 ETH in September while adding Bitcoin.
$5 Billion in Ethereum Shorts Sit Above the PriceEven as institutional capital pulls out of Ethereum financial instruments, derivatives traders are piling into bets that ETH will fall. These bets, called shorts, are often made with borrowed money.
“Most of the ETH downside liquidity has been taken out for now. Now there are $5 Billion in shorts vs. $1.53 Billion in longs. The only concern is weakening spot demand for Ethereum, which is still making a strong case for more correction,” analyst Ted Pillows noted.
Forced closures of shorts require buying ETH. A wave of them can push the price higher, potentially causing a short squeeze.
Earlier this week, Pillows flagged $2,547 to $2,565 as support, warning a break could open a slide toward $2,190. ETH has since slipped below that zone.
Friday’s data leaves ETF buyers absent and short sellers crowded overhead. Monday’s flow figures will show whether the streak reaches a 10th day.
Ethereum (CRYPTO: ETH) price has lost momentum and crashed to a crucial support level as American investors continued to book profits after the recent rally. ETH token retreated to the important support level of $2,461, its highest point in May this year.
Ethereum Price Falls as ETF Outflows JumpAmerican investors are selling their Ethereum ETFs, possibly as they book profits after the recent rally that pushed it from a low of $1,516 in June to a high of $2,806.
SoSoValue data shows that these funds had over $56 million in outflows on Friday, the ninth consecutive day of outflows. In total, these funds have had over $634 million in outflows this month, a big reversal from what happened in the last three months.
Spot Ethereum ETFs had over $365 million in inflows in July, followed by $1.85 billion in August. After that, they added $832 million in inflows last month, with BlackRock’s ETHA and ETHB being some of the top gainers.
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The ongoing ETF outflows has coincided with the falling staking inflows. There are now 43.85 million staked tokens, a largely unchanged figure since October 1. Ethereum has a staking ratio of 35.9% and a reward rate of 2.55%.
Other cryptocurrencies have had outflows this month. Bitcoin (CRYPTO: BTC) funds have lost over $388 million in assets this month after adding $2.65 billion in September and $3.52 billion in October. Similarly, spot Solana (CRYPTO: SOL) funds have lost over $29.4 million this month.
The most likely reason for the ongoing Ethereum weakness is the rising US bond yields, which have surged to the highest level in decades recently. In most cases, risky assets recoil whenever there are challenges in the bond market. Also, investors are remembering the $19 billion liquidation event that happened on October 10 last year.
ETH Price Remains Above Recent AveragesThe ongoing ETH retreat does not mean that the recent rally has stalled. For one, it has remained above the 100-day Exponential Moving Average (EMA), a sign that the uptrend remains intact.
The coin has also retested the important support level of $2,461, its highest level in May this year. That is a sign that it has formed a break-and-retest pattern, a common continuation sign in technical analysis.
Therefore, there is still a possibility that the token will rebound once this shakeout phase ends. If this happens, it may retest the key resistance level of $2,806, its highest point this month. A surge above that level will point to more gains towards $3,000.
US spot Ethereum ETFs just had their worst week since late January. Investors pulled $542.1 million from the funds during the trading week ending October 9, 2026.
That marks the biggest weekly exodus in more than eight months. It also arrives with Ether sliding below a price level traders tend to watch closely.
BlackRock’s fund did most of the bleeding The outflows were not spread evenly. BlackRock’s iShares Ethereum Trust (ETHA) accounted for roughly $477 million of the weekly total.
That works out to approximately 88% of all redemptions in the category.
Grayscale’s ETHE came in a distant second. It saw $31.9 million in withdrawals over the same week.
For context, the last time the category posted a weekly figure this bad was late January. Back then, Ethereum ETFs recorded $611 million in withdrawals.
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The latest week is also part of a longer losing run. The funds have now logged nine consecutive trading days of outflows, starting on September 29.
Over that stretch, total redemptions reached $697.2 million.
Ether slips under $2,500 as volume dries up The price action has not offered much comfort. ETH settled near $2,491 on October 10, down more than 7% over the prior week of trading.
That move pushed Ether below two markers at once. It fell under its 50-day simple moving average and dropped beneath the $2,500 threshold.
Activity also thinned out considerably. Trading volume for ETH fell 61%, landing at $7.2 billion.
Bitcoin and Solana funds felt it too Ether was not alone in this. Bitcoin ETFs saw outflows of approximately $681 million around the same period.
Spot Solana ETFs had an even more symbolic moment. The funds recorded their first outflows since launch, ending an inflow streak that had lasted 14 weeks.
The longer view still looks positive Cumulative net inflows into US spot Ethereum ETFs stood at about $13.26 billion as of October 9, 2026.
Total net assets held across the funds were estimated at $15.71 billion. So the recent redemptions, while sizable, represent a fraction of the capital that has flowed into these products overall.
What this means for investors The concentration in ETHA is the detail worth sitting with. BlackRock’s fund is the largest vehicle in the category, which also makes it the easiest place for large holders to reduce exposure quickly.
The research behind these figures suggests the outflows may indicate fading investor confidence as market conditions shift. It also points to the simultaneous drops in Ether and Bitcoin as possibly reflecting wider bearish sentiment, potentially tied to external economic factors and regulatory uncertainty.
For anyone tracking Ether, a few signals stand out. The first is whether ETH can reclaim the $2,500 level and its 50-day average. The second is trading volume, which currently stands at $7.2 billion. The third is daily ETF flow data, given that the current outflow streak now spans nine days.
If newer products like spot Solana ETFs continue to see redemptions after a 14-week run of inflows, it could hint that investors are trimming riskier crypto positions across the board rather than rotating between assets.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
11 October 2026 | 04:13 A tokenized bond could sit in the same wallet as ADA while operating under a very different set of rules. Cardano’s new programmable-token standard gives issuers a way to embed those rules into selected new assets from the start.
Key Takeaways CIP-0113 is live for issuers creating new programmable tokens. Rules can cover eligibility, transfers, freezes and authorised third-party actions. ADA and existing Cardano tokens stay outside the framework. Each issuer decides which controls, if any, its token carries. Holders need to understand those controls before accepting or buying a token. On October 7, the Cardano Foundation announced that its CIP-0113 programmable-token standard had gone live on mainnet. It is designed for stablecoins, funds, bonds and similar assets whose issuers may need to define who can hold, receive or transfer them.
One network can now host tokens with different transfer rights ADA moves when its holder authorises a valid transaction. A token created through CIP-0113 can require an additional check before ownership changes. The Cardano ledger applies that token’s rules whenever it is transferred, minted or burned.
An issuer could use those rules to require an approved recipient, limit transfers across jurisdictions or pause movement while addressing a compliance issue. The framework can also support a third-party action, such as a forced transfer, where the token’s own design grants that authority.
None of this changes ADA or adds new controls to tokens already circulating as ordinary Cardano assets. The additional logic applies when an issuer creates a token through the programmable-token framework.
Unaffected asset
ADA
CIP-0113 does not give an issuer new authority to freeze, seize or restrict transfers of ADA.
Already circulating
Existing Cardano tokens
Tokens already in circulation do not gain programmable controls through the new standard.
New issuer choice
Programmable tokens
An issuer can build in eligibility checks, transfer conditions, limits or jurisdiction-based restrictions.
Optional authority
Freeze or forced transfer
These actions are possible only where the issuer has explicitly included them in that token’s own rules.
Each programmable token comes with its own rulebook The CIP-0113 specification describes programmable tokens as assets that need successful script execution before ownership can change. The issuer sets the transfer logic for its own token and may define separate conditions for minting, burning or third-party actions.
For holders, that technical design becomes a straightforward due-diligence issue: does another party have a defined ability to restrict, pause or redirect a transfer after the token reaches the wallet? Two assets on the same blockchain may produce very different answers.
A stablecoin may use a narrow freeze process connected to sanctions screening. A fund may require investors to meet an eligibility condition before receiving units. A bond may be limited to a defined group of investors. Such controls can help an issuer meet obligations that already exist in conventional finance, while also limiting what a holder can do with the token.
Tokenization can make existing financial rules executable Bonds, funds and securities already carry legal terms, investor qualifications and procedures for handling errors or court orders. Much of that framework normally sits in contracts, registries and intermediaries outside the asset itself.
A retail bond distributed through Toyota Wallet shows how blockchain can change distribution and settlement while leaving the conditions around a regulated investment in place. CIP-0113 brings part of that framework closer to the token, allowing an issuer to enforce transfer conditions when the asset moves.
Tokenized stocks face a similar reality. The SEC’s temporary route requires participation standards and the preservation of shareholder rights, even when the trading infrastructure moves onchain. A blockchain transaction can record ownership efficiently; the rules attached to the asset still decide whether that ownership can change hands.
1. Who can intervene? Identify the issuer, administrator or other party authorised to apply a freeze, initiate a recovery process or carry out a forced transfer. The product page may summarise those powers, while the governing documents and token rules provide the fuller answer.
2. Who may receive it? Allowlists, KYC requirements and jurisdiction rules can affect whether a wallet may receive or send the asset. A transfer can fail even when both addresses are technically valid on Cardano.
3. Can the rules change? The Cardano Foundation says issuers can use modular rules and update them as regulations evolve. Holders should examine how changes are approved, announced and limited before relying on the token’s current conditions.
4. What does the token legally represent? Code governs the token’s movement. The issuer’s documents define the wider claim, including redemption rights, payments, voting rights, custody arrangements and the treatment of an insolvency or dispute.
Cardano has opened a route for controlled onchain assets CIP-0113 preserves ADA’s existing transfer model while giving regulated issuers a separate route to build on Cardano. That may broaden the network’s use for assets whose restrictions form part of their legal design from the beginning.
For holders, the relevant information now extends beyond the balance shown in a wallet. A token’s rules may determine who can receive it, when it can move and which party can intervene if a compliance or legal issue arises.
This article is provided for informational purposes only and does not constitute legal, financial or investment advice. Token rights and issuer powers depend on each asset’s code, governing documents and applicable law.
Author
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 5,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
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Geneva, Switzerland, October 10, 2026 — TRON DAO, the community-governed DAO dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps), participated in TOKEN2049 Singapore as Title Sponsor and in Blockworks’ Digital Asset Summit (DAS) Asia 2026 at the Marina Bay Sands. TRON Founder Justin Sun joined fireside discussions at both conferences, sharing his views on stablecoins, institutional adoption, AI-driven commerce, machine-to-machine payments and the need for quantum-resilient blockchain infrastructure.
On October 7, Sun joined Michael Ippolito, Co-Founder of Blockworks, on the main stage at DAS Asia 2026 for a fireside titled “In Conversation with Justin Sun.” Organized by Blockworks, DAS Asia is an institution-focused digital asset conference examining the intersection of traditional finance and the digital asset economy. The conversation covered the evolution of stablecoins, institutional adoption, agentic AI payments and TRON’s role in the global digital asset economy.
Sun highlighted the growing role of tokenized assets and stablecoins as practical financial infrastructure, particularly for cross-border payments and access to digital dollars and U.S.-based assets. He also discussed the emerging role of AI agents in the economy, predicting that within the near future, AI agents will increasingly make payments, purchase digital services and manage financial activity on behalf of users.
On October 8, Sun joined Kevin Follonier, Founder of When Shift Happens, for “Fireside Chat with Justin Sun” on the TOKEN2049 main stage. The discussion explored the future of blockchain, stablecoins, AI agents and the broader evolution of global finance. Sun also discussed the need to prepare blockchain networks for quantum computing, noting that TRON has already made meaningful progress toward post-quantum readiness, with end-to-end post-quantum signature support deployed on the Nile testnet.
Furthermore, pointing to the mathematics behind the cryptography that secures blockchain networks, Sun turned to the Justin Sun Prize, which he describes as the “Nobel Prize of the AI Era.” Structured as a zero-trust, decentralized academic bounty mechanism built around a “problem list,” the prize recognizes breakthroughs in fundamental disciplines verified through machine formal verification. It seeks to accelerate fundamental research through collaboration between humans and AI.
“AI agents using crypto will become the industry’s biggest use case within the next five years,” said Sun. “As AI agents begin to transact, pay and operate autonomously, blockchain will become the financial infrastructure behind them. TRON’s focus is to provide the fast, efficient and accessible settlement layer that can support this next generation of global finance.”
TRON DAO also hosted a dedicated booth at the conference, giving attendees the opportunity to connect with the broader TRON community and learn about the ecosystem’s work across stablecoin payments, decentralized applications and AI-driven financial infrastructure. Beyond the conference floor, TRON DAO also hosted a Creators and Media Networking Happy Hour, welcoming industry leaders for an evening of light bites and conversation.
Across both events, the discussions underscored TRON’s focus on building blockchain infrastructure for a rapidly evolving financial system being shaped by stablecoins, tokenized assets, AI agents and increasingly resilient digital-asset networks.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of October 2026, the TRON blockchain has recorded over 407 million in total user accounts, more than 15 billion in total transactions, and over $28 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”
TRONNetwork | TRONDAO | X | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum
October 10 brought announcements covering private crypto payments, an upcoming Japanese exchange listing, and changes affecting futures traders and Monero users. Here are four updates announced on the day.
COTI Introduces New Privacy Products COTI unveiled its COTI 2.0 direction on October 10, introducing Interphase and COTI Global alongside a redesigned website. The company describes Interphase as a service for transferring assets confidentially across more than 30 blockchains, while COTI Global focuses on using crypto for private everyday payments. The announcement outlines the products’ intended capabilities without establishing how widely they are being used.
Japan’s OKJ Announces Midnight’s NIGHT Listing Japanese exchange OKJ announced on October 10 that it plans to add Midnight’s NIGHT token on October 13 at 5 p.m. Japan time, bringing its supported asset count to 55. The rollout will include exchange trading, brokerage purchases, recurring purchases, deposits and withdrawals, with transfers supported over Cardano. OKJ said the listing would make it Japan’s first crypto exchange to offer NIGHT through order-book trading, according to its own research.
MEXC Schedules Removal of 14 Perpetual Futures Markets MEXC issued an October 10 notice announcing that 14 USDT-margined perpetual futures markets will be removed on October 14 at 7 a.m. UTC, including contracts for BOBA, RON, ZBCN and TFUEL. At the deadline, the exchange will cancel outstanding orders and settle remaining positions using its fair price at that time. The affected contracts will also be removed from demo trading and futures grid trading where applicable.
KuCoin Pauses Monero Deposits and Withdrawals KuCoin announced on October 10 that it had temporarily suspended Monero deposits and withdrawals for wallet maintenance. The exchange said transfers would resume once the work was complete, but provided no reopening time. It also told customers that restoration would not be accompanied by a separate announcement.
Stablecoins changed hands to the tune of $161.4 billion on decentralized exchanges over the past 30 days. Nearly half of that flowed through one protocol family.
Uniswap v4 and v3 together accounted for 47.2% of stablecoin trading on DEXes during that window.
Where the volume is actually going According to Dune Analytics, v4 has become a leading venue for stable-to-stable swaps, meaning trades where one dollar token is exchanged for another.
Uniswap v4 processes between $11 billion and $14 billion a month in those stable-to-stable trades. Its predecessor, v3, handles roughly $1 billion to $2 billion monthly in the same category.
Stable-to-stable swaps account for roughly 45% to 53% of v4’s total volume.
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It is worth separating two numbers here. The 47.2% share covers stablecoin trading activity on DEXes broadly, while the $11 billion to $14 billion range refers specifically to swaps where both sides are stablecoins.
Why v4 is winning the stablecoin trade Uniswap v4 offers flexible fees ranging from 0.0005% to 0.0008% on major stable pairs. On v3, the lowest fee tier sits at 0.01%.
Beyond pricing, v4 introduced more efficient routing options that help optimize how trades get executed.
Background: Uniswap’s broader market position Uniswap launched v4 in early 2025. Across v2, v3 and v4 combined, Uniswap recorded more than $70 billion in DEX trading volume over 30 days, according to DeFiLlama.
That total surpassed the next three DEXes combined.
Uniswap’s activity also spans multiple chains, including Ethereum and others.
What this means for traders, LPs and rivals For traders, the clearest implication is cheaper execution on large stablecoin swaps. Lower fees on v4 can mean better margins for strategies that move size, such as arbitrage between dollar tokens or treasury rebalancing.
For liquidity providers, ultra-low fees attract volume, but each individual trade pays LPs less, so returns depend on whether the extra volume makes up for thinner per-trade income.
When nearly half of stablecoin DEX activity runs through one protocol family, any technical issue or governance change at Uniswap could ripple across a large share of onchain dollar trading.
A market processing $161.4 billion a month in stablecoin swaps is less a speculative sideshow and more a functioning settlement layer, and Uniswap currently holds the biggest share of that layer.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
ICP Sets New Fee Benchmark@dfinity's Internet Computer has recorded a new milestone in cost efficiency. According to on-chain analytics platform @chainspect_app, the $ICP network logged its lowest-ever weekly average transaction fee on October 7, coming in at just $0.0000828. The figure underscores a structural advantage that the protocol has quietly built: near-zero cost per transaction at meaningful throughput.
The timing is notable. While broader crypto markets remain volatile, ICP's fee data points to a network that continues to function as designed, processing transactions cheaply and at speed regardless of external conditions.
Speed and Cost: ICP's Dual AdvantageThe fee milestone does not exist in isolation.
This architecture is a key reason end-user transaction costs remain so low: the fee burden falls on developers rather than users at the point of transaction.
That activity base gives context to the fee data: $0.0000828 as a weekly average is not a statistical outlier from minimal usage but rather a reading from a network handling genuine scale.
For developers and users evaluating chain economics, the combination of high throughput and fractional fees continues to set $ICP apart from older layer-1 networks where congestion routinely drives costs higher.
Sources:
Crypto News Navigator: Internet Computer Blockchain Hit 1B Transactions in Q1 2026
Bleap Finance: Fastest Blockchains in 2026
Coinpedia: Internet Computer Nears 300B Transactions
Avalanche founder Emin Gün Sirer argues that AI could uncover security flaws in the XRP Ledger. He says that threat deserves more attention than the fall of existing cryptography.
His warning arrives as the ledger faces renewed scrutiny over an emergency software update.
The debate on the threat AI poses for crypto is mostly just wankery.
We will see AI exploit systems-level bugs far before ECDSA falls. We will see AI discover bugs in systems code, libraries and wallets that enable attackers to steal billions of dollars long before we have to…
— Emin Gün Sirer🔺⚔️ (@el33th4xor) October 9, 2026 AI Could Uncover Security Flaws in the XRP LedgerAI-driven vulnerability discovery means using AI models to find software bugs that humans have missed. Attackers can exploit those bugs before developers patch them. Sirer argued on X that AI:
Will likely exploit system-level bugs well before ECDSA becomes obsolete. In his view, advanced models could find flaws in blockchain software, libraries, and wallets that humans have overlooked. That shifts the focus from future cryptographic breaks to the quality of code today. He warned that attackers could use such bugs to steal billions before AI breaks widely used cryptography. That scenario would involve bugs the community has not yet detected.
Sirer did not identify any unpatched XRP Ledger vulnerability, however, nor did he demonstrate an AI attack on the network. His argument is a warning rather than a documented exploit.
Is the Industry Looking at the Wrong Threat?The debate has divided crypto leaders:
Ethereum co-founder Vitalik Buterin recently warned that AI-driven mathematical discovery could threaten lattice-based cryptography within two years. Cardano founder Charles Hoskinson called those concerns speculative and said math cannot back up such predictions. Ethereum researcher Justin Drake has voiced concern that AI could eventually attack ECDSA, a widely used method for signing transactions. Sirer admits that the cryptography threat cannot be fully dismissed. Still, he believes the community should focus first on software vulnerabilities that already exist. The XRP Ledger context adds urgency. Developers rolled out an emergency software update on September 25, and the initial security fixes were released without source code.
The team promised to publish that code along with a technical retrospective.
xrpld 3.4.1 is being released with a Batch fix and stability improvements.
We’re asking validators and node operators to upgrade as soon as possible. There has been no impact to mainnet, and no loss of funds.
There is also a new fix amendment, fixBatchV1_2, which addresses a… pic.twitter.com/anvZzzghJo
— XRP Ledger Operations (@XRPLOperations) September 25, 2026 Earlier, Ripple CEO Brad Garlinghouse criticized Sirer over claims about Ripple’s traction with banks. Sirer’s comments reframe the debate around software security rather than cryptography alone.
CZ releases crypto asset custody guide, advises choosing custody methods based on asset size and technical capabilities.
Binance founder CZ has released a simplified crypto asset custody guide, advising users to match security measures based on their own holdings size and technical capabilities, with a focus on three key issues: preventing asset theft, avoiding accidental loss, and planning for asset inheritance in advance. For self-custody, CZ recommends users store private keys on offline devices, use reliable hardware wallets, verify transaction addresses, and set up multiple off-site backups. He also warns users against saving keys via photos or screenshots to prevent leaks from syncing to cloud storage. Regarding asset inheritance, users should develop a secure recovery plan in advance, avoiding direct sharing of keys or storing recovery information in unencrypted form. For centralized trading platforms, CZ advises users to evaluate the platform’s reputation, security capabilities, and business model, and strengthen account protection through measures such as independent email addresses, strong passwords, two-factor authentication, hardware security keys, and withdrawal address whitelisting. He also cautions users to be wary of phishing attacks and API credential leaks. CZ further suggests that users allocate their assets reasonably between centralized trading platforms and personal wallets based on their technical capabilities, security management level, and fund usage needs. Self-custody means users bear sole responsibility for protecting private keys and asset recovery, while platform custody involves platform credit and counterparty risks. Additionally, maintaining an independent wallet helps preserve access to assets during platform maintenance or service interruptions.
17 minutes ago
Nvidia in talks to acquire U.S. AI startup Reflection AI
Sources familiar with the matter told the Financial Times that Nvidia (NVDA.O) is in talks to acquire U.S. startup Reflection AI or boost its investment in the open-weight model developer. Negotiations remain in the early stages, and a potential deal could take multiple forms, including a so-called "talent acquisition"—a move where Nvidia hires Reflection’s staff and secures its technology license, bypassing the lengthy regulatory reviews usually required for a full acquisition. Nvidia is already one of Reflection’s largest shareholders; it could also deepen the pair’s relationship via additional equity investment or an agreement to supply more chips and computing power to the startup. The sources noted that a deal could be struck between the two firms in the coming weeks. Reflection was valued at $25 billion in a financing round this March. (Financial Times UK)
17 minutes ago
Ledger confirms unauthorized hardware implants on affected users’ devices, dealer CryptoBilis suspends sales of its inventory.
Ledger Support has released an update confirming an unauthorized hardware implant was discovered in one affected user’s device. The company is currently contacting impacted users and continuing its investigation. Ledger is calling on anyone with relevant information to come forward, and states it is cooperating with law enforcement to hold those responsible accountable. Out of caution, CryptoBilis has confirmed it is suspending sales of all hardware wallet inventory until the investigation concludes, with Ledger actively communicating with the dealer on next steps. Ledger adds there are currently no signs its security infrastructure, systems or services have been breached. For users who purchased Ledger devices from this dealer: if you have not completed initialization, do not set up the device yet; if you have already set it up, consider transferring your assets to a new Ledger signing device with a new recovery phrase. Ledger emphasizes that security threats are evolving, and the company is continuously improving its security protections and advancing more advanced tamper-resistant solutions. It also reminds users to be vigilant against scams taking advantage of this situation, and to only access the latest information through Ledger’s official channels. Ledger will never request users’ 24-word recovery phrases.
17 minutes ago
POAP founder transfers 4,000 ETH to Gemini, worth approximately $10.02 million.
According to Yu Jing On-Chain Monitor, POAP founder worthalter made a further transfer of 4,000 ETH (valued at approximately $10.02 million) to crypto exchange Gemini six hours ago. Over the past six days, he has offloaded 8,000 ETH (around $20.81 million), and currently holds 51,468 ETH worth $129 million.
17 minutes ago
Papertrade announced it has contacted Nasdaq to explore the possibility of implementing 1000x leverage.
According to official announcements, Papertrade, a synthetic perpetual protocol built on HyperEVM, has announced that its daily notional trading volume has surpassed that of Nasdaq. Following this milestone, the protocol has contacted Nasdaq to explore the possibility of implementing 1000x leverage, with the goal of further boosting its trading volume.
17 minutes ago
Attack on Saudi Arabia's Riyadh Airport Kills 12, Injures 309
According to a statement from Saudi Arabia's General Authority of Civil Aviation, King Khalid International Airport in Riyadh was attacked on Saturday, leaving 12 people dead and 309 others injured.
@StellarOrg has pulled ahead of two of crypto's most prominent blockchains in the race to host real-world assets (RWAs), with @RWAFoundation_ data showing the network now holds $3.5 billion worth of tokenized assets on-chain. That puts Stellar above @Solana at $3B, @Ripple's $XRP Ledger at $2.5B, and @Avax at $1.7B.
A Breakout Year for the Stellar Network The milestone caps what has been a remarkable growth curve for the $XLM ecosystem in 2026. According to Crypto Briefing, , meaning the network has logged growth of more than 300% in under a year. That trajectory briefly carried the total past the $4 billion mark in August before settling back to current levels.
The growth is being driven by a concentrated group of large institutional funds. According to U.Today, the main liquidity anchors on the network are the Spiko Amundi Overnight Swap Fund at roughly €1.225 billion, Ondo U.S. Dollar Yield at $536.89 million, and Franklin Templeton's BENJI fund at $513.78 million. That institutional depth sets Stellar apart: one analysis found the network averages more than $48 million locked per project, compared with roughly $1.4 million per project on Solana.
Stellar Dominates Daily RWA Inflows The momentum is also visible in daily flow data. On October 4, 2026, the RWA Foundation reported that total RWA market cap across the top 10 blockchains grew by $96.5 million in a single 24-hour window. Stellar captured $36.4 million of that, or 37% of the entire day's inflows, with BNB Chain second at $23.2 million. Together, the two networks accounted for 62% of that day's sector-wide growth.
The broader RWA tokenization market itself continues to expand rapidly. Asset tracker RWA.xyz put the total on-chain RWA market at approximately $39.2 billion as of early September 2026, excluding stablecoins, up from around $12 billion in mid-2025. The RWA Foundation, which publishes monthly market structure reports in collaboration with analytics firm Token Terminal, is now tracking more than 10,000 tokenized assets across major blockchains.
For the $XLM ecosystem, the numbers represent a clear strategic win. Stellar's compliance-friendly architecture and low fees have made it a preferred settlement rail for regulated fund issuers, and that institutional preference is now showing up directly in the chain rankings.
Sources:
Crypto Briefing: Stellar's tokenized RWA market reaches the $4 billion line, up 360% this year
U.Today: Stellar (XLM) Secures 37% of Global 24-Hour Real-World Asset Tokenization
Crypto Briefing: RWA Foundation report tracks 10,322 tokenized real-world assets
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu's layer-2 network, Shibarium, saw a sudden spike in activity as the daily number of transactions rose in the last 24 hours. Shibariumscan data shows the number of transactions jumped from 970 on Oct. 8 to 2,440 on Oct. 9, a 151% growth.
This jump comes after a huge decline in the number of transactions, which was 5,710 on October 6. Activity on Shibarium has been on the rise gradually, with the number of transactions steadily climbing since the start of October.
This steady increase went on for six days, after which a sharp drop ensued. This inconsistency in transaction activity raises questions about the recent increase and whether it marks the start of a sustained recovery in Shibarium usage.
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According to a notice on ShibariumScan, there is ongoing reindexing which may account for the haphazard nature of the data, although this is not certain. The notice stated that 56% of blocks have been indexed so far.
Regardless of the exact reason, the 151% surge puts Shibarium's transaction activity back in focus as the Shiba Inu ecosystem continues to pursue greater utility.
Shiba Inu priceOn the first anniversary of the 10/10 flash crash, which resulted in the largest liquidation event in crypto history, Shiba Inu is currently trading in the green, up 1.24% in the last 24 hours to $0.00000546 and down 4.05% weekly.
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Shiba Inu price returned to the green on a daily basis after completing a three-hour death cross, putting the dog-themed cryptocurrency's short-term price action back in focus.
A death cross occurs when a shorter-term moving average falls below a longer-term moving average; in this case, the 50 MA on the 3-hour chart has fallen well below the 200 MA, completing the bearish signal.
Shiba Inu marked four days of decline from a high of $0.000006 on October 5 before rebounding on Friday. The price drop saw Shiba Inu trade below its 50-day moving average and briefly fall below the daily MA 200 before recovering above it.
Bulls made an attempt to recover the 50 DMA early Saturday, with the SHIB price reaching $0.000005519 before a retreat. A successful attempt in this regard will be watched for a continuation of Shiba Inu's rebound in the upcoming sessions.
Shiba Inu’s layer-2 network, Shibarium, experienced a notable increase in activity as daily transactions jumped within the last 24 hours. According to data from Shibariumscan, transactions soared from 970 on October 8 to 2,440 on October 9, reflecting a 151% rise.
Volatile transaction activity and Shibarium indexingThis sharp increase followed a period of declining network activity, which saw transactions plummet to 970 on October 8 from 5,710 two days earlier. Since the beginning of October, Shibarium had shown a gradual uptick in transaction volume, building over six days before the abrupt downturn that led to this sudden recovery.
Analysts have highlighted the erratic movement in transaction numbers, prompting speculation about whether the latest upturn might signal the start of a more consistent recovery trend for the network.
Shibariumscan has displayed a notice about ongoing reindexing for the network. The message indicated that, as of the latest update, 56% of blocks had been indexed. This process could be contributing to irregularities in the reported data, though it is not possible to confirm the exact impact at this stage.
Despite any uncertainty regarding data consistency, the 151% surge has brought significant attention back to Shibarium’s development as the Shiba Inu ecosystem seeks to expand its utility and user engagement.
Mini dictionary: Shibarium is Shiba Inu’s layer-2 network aimed at improving the scalability and efficiency of transactions within the Shiba Inu ecosystem by offering lower fees and faster processing compared to the Ethereum mainnet.
DateDaily TransactionsOct. 55,710Oct. 65,710Oct. 8970Oct. 92,440Shiba Inu price and technical indicatorsOn the first anniversary of the October 10 flash crash, which led to the largest liquidation event in the cryptocurrency market’s history, Shiba Inu began trading higher. SHIB gained 1.24% over the previous day to reach $0.00000546, though it remained down 4.05% for the week.
The cryptocurrency’s return to green territory followed a technical development known as the “death cross.” This event, recently completed over a three-hour timeframe, involves the 50-period moving average dropping below the 200-period moving average, generally seen as a bearish price signal in the short term.
After recording four consecutive days of decline from a high of $0.000006 on October 5, Shiba Inu rebounded late in the week. The drawdown pushed SHIB below its 50-day moving average and even beneath the 200-day moving average, though a subsequent recovery enabled the price to climb back above these key technical levels.
Shiba Inu’s recent rebound has attracted attention, particularly after an attempt by bulls to reclaim the 50-day moving average early Saturday, with SHIB’s price touching $0.000005519 before retreating.
Market watchers are focusing on whether SHIB can successfully reclaim and hold above the 50 DMA, as such a move may reinforce the ongoing recovery and set the stage for further gains in the upcoming sessions.
$XDC Now Live on Robinhood@XDCNetwork's native token $XDC is now available for trading on @RobinhoodApp, opening up one of the crypto market's more niche enterprise-grade assets to a broad audience of everyday investors.
The move is a meaningful step for XDC Network's visibility.
What the Listing Could Mean for $XDCRobinhood's retail reach makes this listing particularly notable. The platform has tens of millions of funded accounts in the United States, and new additions to its crypto lineup tend to attract attention from investors who may not be active on dedicated crypto exchanges. For $XDC, broader retail exposure could accelerate awareness of XDC Network's real-world use cases in trade finance and cross-border payments.
a segment that has attracted growing institutional interest as tokenisation of real-world assets gains traction. A listing on one of America's most widely used retail investing apps puts $XDC in front of an audience that was previously harder to reach through traditional crypto exchange channels.
It is also worth noting that Robinhood's broader relationship with the XDC ecosystem is not entirely new. suggesting a degree of strategic alignment between the Robinhood group and the XDC ecosystem.
Sources:
TokenPost: Robinhood Crypto Adds XDC Network Support for U.S. Retail Traders
Robinhood: Buy and Sell XDC Network (XDC)
CoinGecko: XDC Network Price and Market Data
Optimism [OP] sees a bullish rebound following a price decline on the 7th of October that saw the asset fall roughly 12%. The pullback coincided with declining on-chain performance, Total Value Locked (TVL), and DEX volume.
However, off-chain market activity has driven the recent 11% price surge, as capital inflows and market positioning support the potential for further price gains in the near term.
OP’s derivatives market points to further gains The perpetual market position remains strongly bullish, with Open Interest (OI) and the Funding Rate being the key indicators suggesting this.
OI in itself does not necessarily imply a bullish or bearish position in the market, but measures capital in the perpetual market.
In the past 24 hours, Optimism‘s OI surged significantly, reaching a high of roughly $107.82 million following a 17.25% increase as of writing, confirming an inflow of $18.98 million.
Source: CoinGlass In addition to this, there has been a positive Funding Rate reading of 0.0096%. The Funding Rate measures whether long or short positions are dominating the capital positions in the perpetual market.
When positive, it indicates that the bulls are in more control, with more long positions than short positions in the market. These conditions suggest there is a chance that the price will still move higher in the near term.
Whale activity supports OP’s bullish outlook Capital flows and broader market sentiment have been whale-dominated, with the Whale-Retail Delta confirming this.
The Whale-Retail Delta measures whether whales, investors with large capital, or retail short-term traders have been in control, based on a positive or negative reading.
Source: CoinGlass At press time, the reading was positive at 0.332, but the slight drop on the 9th of October indicates that retail participation is currently playing a role.
Binance whales played a significant role in the activity, with the Whale Long/Short Ratio metric showing a high buy-volume reading of 2.24. On Bybit, however, whales have taken a neutral stance.
Market sentiment remains positive Sentiment remains bullish, as one would anticipate with an asset rallying. Data from CoinMarketCap shows that market sentiment remains positive, with a reading of 4.68 as of writing.
The sentiment indicator operates between -10 and 10 on the scale. When the scale tilts towards a high positive reading, as it has presently, it confirms that the bulls are in control of the price.
Given the market sentiment, there is a high chance that Optimism crypto‘s price will continue to maintain the bullish level it has sustained over the past couple of trading hours.
Final Summary Optimism saw Open Interest rise 17.25% to $107.82 million, reflecting $18.98 million in capital inflows. Positive Funding Rates, whale activity, and a CoinGlass sentiment reading of 4.68 support a bullish outlook for OP.
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.
10 October 2026 | 19:13 Worldcoin rose 14% in 24 hours and moved back above $0.54, reversing part of its recent pullback while leaving a larger resistance zone near $0.60 ahead.
Key Takeaways WLD has moved back above the $0.54–$0.55 Fibonacci area. The broader direction remains upward inside a rising channel. Price stays above its 50-, 100- and 200-day moving averages. World is expanding its financial app and World ID use cases beyond the web. $0.54 has become WLD’s first recovery test CoinMarketCap showed WLD up about 14% over 24 hours at the time of writing. The Coinbase daily chart placed the token near $0.56 after it recovered from the decline that followed its earlier push toward $0.62.
The move has returned WLD to the $0.54-$0.55 area, where the 0.236 Fibonacci retracement sits near $0.54. Buyers now need to keep price above that band if the latest advance is to become more than a quick rebound from the recent drop.
Because the October 10 daily candle was still forming, a close above the zone would carry more weight than the intraday move alone. A close back underneath it would send attention to the lower support areas inside the broader advance.
WLD remains in a rising channel WLD has traded inside a rising channel since August. A few daily wicks have pushed above or below its boundaries, but the broader direction remains upward because each larger pullback has stopped above the previous one.
WLD recovers above $0.54. / Chart source: TradingView, WLD/USD on Coinbase. The channel’s lower area becomes more relevant if WLD falls again, particularly where it approaches the $0.44-$0.48 support cluster. That range combines the 50-day moving average, a deeper Fibonacci level and the lower part of the channel.
WLD has also shown that it can move sharply when the broader crypto market is weak. Its earlier 51% rise while Bitcoin and Ethereum were falling shows how quickly the token can separate from the market’s main trend – something that we are also seeing today, while Bitcoin fights to reclaim $83,000 after dropping to $80,000.
WLD’s daily price map
$0.54-$0.55: Reclaimed 0.236 Fibonacci area and the level buyers now need to hold.
$0.49-$0.50: The next lower Fibonacci zone and a previous consolidation area.
$0.44-$0.48: The 50-day SMA, 0.5 Fibonacci level and lower region of the rising channel.
$0.57-$0.58, then $0.60–$0.62: The immediate hurdle followed by the recent swing-high resistance zone.
Moving averages support the trend, while RSI stays moderate WLD remains above its 50-day SMA near $0.44, 100-day SMA near $0.40 and 200-day SMA near $0.37. The 50-day line sits above the other two, supporting the improvement in WLD’s medium-term trend.
Daily RSI near 58 is above neutral, although it remains slightly below its smoothing line around 60. Momentum has improved from the pullback without matching the stronger pace that carried WLD toward $0.60 earlier this month.
A move through $0.57-$0.58 would show whether that strength is returning. Until then, WLD has recovered support without yet clearing the range that stopped its last advance.
World is adding more places to use its network World has released two recent updates that broaden where its technology can be used. Their importance for WLD will depend on whether they attract regular activity after the announcements fade.
On September 17, World began rolling out World Money in more than 150 countries. The self-custody app combines stablecoin balances, payments, trading, Mini Apps and eligible Earn programmes, although features and asset availability vary by location.
That rollout gives the network a larger financial front end. If users adopt those payment and wallet features, WLD could gain more practical places to be held and used across the ecosystem.
World ID is also moving toward physical AI World announced on September 30 that peaqOS had integrated World ID, allowing compatible machines to request a privacy-preserving credential from the person they are serving. The project demonstrated the idea with a delivery robot in Seoul that opens its compartment only for the intended recipient.
World described the delivery example as a demo, while saying developers can already explore the integration through peaqOS. Together with World Money, the update gives World two different routes for adoption: everyday financial activity for users and identity checks for machines and services.
Neither development sets a short-term WLD price target. Their longer-term value lies in whether they create recurring reasons to use World’s products, which could give future token moves a stronger adoption backdrop than trading momentum alone.
WLD’s next chart decision sits above $0.54 Holding the $0.54-$0.55 area through the daily close would keep $0.57-$0.58 and then $0.60-$0.62 in focus. A loss of the reclaimed band would bring $0.49-$0.50 back into view before the deeper $0.44-$0.48 cluster.
This article is for informational purposes only and does not constitute investment advice. Technical levels are approximate and do not guarantee future price movements.
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Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
@Binance has placed @biconomy's $BICO and @civickey's $CVC under its Monitoring Tag, a designation that flags tokens for elevated scrutiny and raises the prospect of a future delisting. The move was first flagged by WuBlockchain on October 9, 2026.
What the Monitoring Tag Actually Means The Monitoring Tag is not a delisting notice, but it is far from a clean bill of health.
For traders, the practical impact is immediate.
How Seriously Should Holders Take This? History suggests the tag carries real weight. That said, the outcome is not predetermined.
Binance has not cited specific reasons for flagging BICO or CVC on this occasion. Both tokens will now be subject to periodic assessments, with their continued listing dependent on meeting those standards.
Holders of either asset should monitor official communications from Binance closely for any follow-up announcement.
Sources:
TokenPost: Binance Plans Monitoring Tags for Biconomy and Civic Tokens
CoinGabbar: Binance Monitoring Tag, Are BICO and CVC at Risk of Delisting?
Yahoo Finance: Binance Hints at Possible Delisting of 4 Altcoins
Tesla’s Digital Optimus is getting better at video games. That sounds like a hobby, but the goal is far more ambitious than a high score.
On October 10, 2026, Elon Musk shared an update on the project. He said the AI agent can now play through half of the Diablo campaign. It also reportedly shows competitive skill in Counter-Strike, a game where hesitation gets you eliminated in seconds.
The stated endgame is generalized intelligence: an AI that can operate software the way a person does. Games are the classroom. Spreadsheets, office tools and eventually robots are the job market.
How Digital Optimus plays The most important detail is how the agent plays, not which games it plays. Digital Optimus works on a pixels-in, keyboard-and-mouse-out basis. It sees the screen and presses buttons, the same way a human player would.
There are no game APIs and no privileged access involved. Many game-playing AI systems are fed structured data straight from the game engine, a bit like reading the answer key. This one has to look at the picture and figure it out.
That constraint makes the task harder. It also makes the skill more portable. An agent that only understands a game’s internal data is stuck inside that game. An agent that learns from raw visuals can, in theory, point that ability at any screen.
The game lineup tests different muscles. Diablo is a campaign built around exploration, combat and long stretches of decision-making. Counter-Strike demands split-second reactions and precise aim.
Training is also underway on League of Legends. That title adds strategy, team coordination and a fast-changing battlefield to the mix. Musk’s update did not list a finish line for it.
The broader aim is for the agents to eventually reach superhuman performance in games. The research describes that as a stepping stone rather than the destination. The real target is carrying those skills into everyday computer use and, potentially, robotics.
A Tesla and xAI collaboration Digital Optimus was announced in March 2026 as a joint project between Tesla and xAI, Musk’s artificial intelligence company. The idea is to build AI agents that interact with digital environments much like humans do.
Tesla is backing the effort with hiring. The company is actively recruiting machine learning engineers for roles tied to Realtime Games and Digital Optimus.
The update lands alongside a production push for the physical robots. Tesla’s output of Optimus units reportedly reached several hundred per week by September 2026. The company’s ambition is to scale that to over 1,000 units per week by the end of 2026.
According to the research, neural world simulations are being used for both autonomous driving and humanoid robotics. Teaching a machine to perceive and act in real time is the shared problem, whether the environment is a road, a factory floor or a demon-infested dungeon.
What this means For anyone tracking AI agents, the pixels-only approach is the part to watch. Most software was built for human eyes and human hands. An agent that can work through the same interface does not need every app maker to build special access for it.
Games are cheap to run, endlessly repeatable and full of real-time visual decisions. They offer a sandbox where an AI can fail thousands of times without anyone losing a file or crashing a car.
The hard part is generalization, and the research is candid that challenges remain there. Beating a level is one thing. Showing that skills learned in Counter-Strike make an agent better at, say, navigating accounting software is a much bigger claim, and it has not been demonstrated yet.
The next markers are fairly clear. Watch for results on League of Legends, any evidence of skills transferring to non-gaming software, and whether physical Optimus production actually climbs toward that 1,000-units-per-week target.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
Quant (QNT) is approaching its final price decline before a massive rally toward $1,000, according to widely followed trader Vuori Trading.
In a post on X, the trader described QNT’s current market structure as the last “dump phase” before a major rally. Vuori Trading identified $173 as a level to watch, arguing that entries closer to it would offer a more favorable position.
The trader cautioned that predicting the exact local low is difficult but described $173 as a price “magnet” for Quant.
QNT Chart Points to $173 as Key Price Level The accompanying daily chart of QNT/USDT highlights $173 as a critical level, marked by a horizontal yellow line extending across the chart. The level marks an important price area the trader expects QNT to revisit during its projected final decline. Notably, it aligns closely with QNT’s 50-day EMA.
The chart also shows a recovery after that move, with a white projected price path indicating a gradual advance followed by a stronger upward move.
Quant (QNT) USDT chart from MEXC Exchange, showing the path to $1,200. Chart Projects QNT Toward $1,000 to 1,200 Beyond the anticipated pullback, the chart outlines an ambitious bullish scenario for Quant. The projection points toward a price range of $1,000 to $1,200, with an upward arrow highlighting the potential move.
Reaching $1,000 from $173 would be an increase of about 478%, while a move to $1,200 would be roughly 594%. These targets depend on the bullish scenario playing out and are not guaranteed outcomes. At press time, QNT is trading at $250, after surging 240% over the last 17 days.
What Traders Should Watch Next for Quant The $173 level is the main focus of Vuori Trading’s analysis. A return to this price would align with his expectation of one final decline before a larger move higher.
For context, if Quant revisits $173, current holders would face an additional price decline of approximately 31% from $250. Combined with the drop from the $375 level, this would be about a 54% decline from that earlier price.
Meanwhile, given the widespread expectation that QNT’s price could soar toward $1,000, with some comparing its potential trajectory to Bitcoin’s rally, bullish traders may view the anticipated dip as less significant.
Analyst Sebastian recently noted on X that QNT had fallen significantly since its rally above $300 and that trading volume had declined. He said the slowdown did not signal a crash but suggested that buying pressure was weakening. Accordingly, without fresh demand, QNT could consolidate or decline toward lower support levels.
Meanwhile, The Crypto Authority sees QNT forming a tightening triangle, with a breakout above $300 potentially opening the way to $420. However, a bearish breakdown could send the token back toward the low-$200 range.
CryptoQuant, a cryptocurrency analysis platform, examined Bitcoin’s (BTC) price corrections during past bull markets to assess the potential decline in the current market, comparing it to historical data. Analysts highlighted the $80,000 level for Bitcoin, while noting that in the event of a drop, the $74,000-$75,000 range could be a significant buying zone.
The analysis shared by CryptoQuant used the Bitcoin Bull Cycle Price Corrections indicator, which measures how far Bitcoin has retreated from its peaks in past bull cycles. Accordingly, the average price corrections seen in past bull markets occurred as follows:
2010-2011: 18.41% 2011-2013: 21.71% 2015-2017: 10.93% 2018-2021: 19.39% 2022-2025: 7.58% CryptoQuant reported a general historical average decline rate of 14.39% for the past five bull cycles. However, it was emphasized that much sharper corrections occurred in some periods, and that the most recent bull cycle saw more limited pullbacks compared to previous periods.
Bitcoin’s $74,500 Level Comes to the Fore. The analysis stated that Bitcoin lost approximately 7.61% of its value, from its peak of $87,027 on October 5th to its low of $80,404 recorded on October 9th.
It was noted that this decline is almost the same magnitude as the average correction of 7.58% during the 2022-2025 period, but remains below the historical average of 14.39%.
According to CryptoQuant, applying the historical average rate of decline to the recent peak of $87,027 points to a price level of approximately $74,500 for Bitcoin. Analysts noted that this region could be considered a significant reference point if selling pressure continues.
On the other hand, the fact that price corrections in recent bull cycles have been more limited compared to the past does not necessarily mean that Bitcoin will fall back to that level.
CryptoQuant analysts stated that, based on current data, investors could consider gradually accumulating Bitcoin around $80,000, but if the price drops to the $74,000-$75,000 range, the amount they would buy could be increased more aggressively.
*This is not investment advice.
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Binance bStocks registered the largest 30-day increase in market capitalization among tokenized stock issuers, with a gain of $45.4 million in tokenized assets backed by Circle. This surge highlighted a stark contrast with several other platforms, including Reality and Ondo, which experienced significant declines over the same period.
Mixed results across tokenized stock issuersToken Terminal data reveals that Binance bStocks led recent growth in tokenized Circle-backed assets. The platform’s $45.4 million increase outpaced all other issuer groups for the period under review.
xStocks saw its tokenized exposure rise by $10.1 million, while Robinhood-issued stock tokens grew by $4.3 million. In contrast, tokenized assets from Reality and Ondo registered declines of $2.8 million and $17.4 million, respectively.
Issuer GroupMarket Cap Change (30 days)Binance bStocks+$45.4 millionxStocks+$10.1 millionRobinhood+$4.3 millionReality−$2.8 millionOndo−$17.4 millionThe diverging performance across issuer groups points to selective demand within the tokenized equities sector. Rising market capitalization signals positive momentum for certain platforms, while others are seeing a contraction. These figures reflect changes in token supply, underlying asset price moves, or shifting investor demand.
Market capitalization does not directly equate to trading volumes or actual investor inflows. Various factors can cause these figures to fluctuate, and comparisons should be interpreted with caution.
Tokenized stocks extend traditional asset exposure to blockchain infrastructure. The pace and composition of sector growth may offer insights into investor interest in various tokenization models and platforms.
Binance, the world’s largest cryptocurrency exchange by trading volume, launched bStocks to provide users with blockchain-based versions of traditional equities.
Mini dictionary: Tokenized stocks, digital representations of traditional company shares that are issued and traded on a blockchain, allowing fractional ownership and expanded 24/7 access compared to traditional equity markets.
BNB hovers near key technical zoneMeanwhile, BNB—the native token of Binance Chain—approached a critical technical area after facing rejection near the $800 level. Crypto analyst MarzellCrypto identified the region around $800 as a make-or-break zone following the recent pullback.
BNB is testing the breakout zone after rejection near $800. A sustained hold above this area could signal a move toward a new all-time high, but failure to maintain support opens the risk of a correction toward $500, $350, or $290.
The bullish scenario hinges on BNB defending the breakout area and reclaiming ground above $800 with conviction. According to the analysis, a short-lived move above resistance does not guarantee long-term upward momentum; confirmation would require a firm close above the key level and a subsequent retest that holds as support. No specific upside target was provided for such a breakout.
If BNB loses the critical support zone, downside scenarios could see the token testing lower levels. MarzellCrypto highlighted $500, $350, and $290 as potential targets in the event of a deeper decline. The likelihood and timing of reaching these levels depend on broader market conditions and investor behavior.
Sector trends versus BNB price outlookWhile Binance bStocks’ growth underscored robust expansion in the tokenized equity market, the data does not necessarily indicate a direct cause for movement in BNB’s price. The token’s immediate technical outlook is shaped more by recent chart patterns and market reaction to key support zones than sector-wide developments.
Growth in tokenized stock issuance may signal rising interest in blockchain-based financial products, but BNB’s price trajectory remains primarily tied to its own market dynamics and structural catalysts.
Observers note that trends in tokenized assets provide valuable context for the evolution of blockchain finance, yet each product’s market performance should be judged on its own terms. Market participants are watching closely to see whether BNB can reclaim critical territory in the coming days.
Ripple’s annual Swell conference, set for October 27–29, 2026 in New York, is expected to highlight growing interest in the use of XRP and the XRP Ledger within institutional finance. A broad lineup of major banks, global asset managers, trading firms, and payment companies are preparing to attend, suggesting Ripple may be broadening its strategy beyond traditional payment services.
Banks and asset managers strengthen XRP’s institutional prospectsCrypto commentator X Finance Bull noted that the invitation list features industry giants, including BNY, Mastercard, Aviva Investors, ZILO, CME, Canary Capital, and Grayscale. BNY, one of the world’s largest custody banks, could facilitate asset custody, enable banking transactions, and assist institutions with collateral management as they access financial markets.
Mastercard, an established player in global payments, is seen as a potential partner to expand payment settlement opportunities, building on its previous work with RLUSD and the XRP Ledger. The commentator identified Aviva Investors and ZILO as key participants in the asset management sector. Aviva Investors, known for managing extensive portfolio assets, may seek to tokenize traditional investment funds on the XRP Ledger, while ZILO provides crucial infrastructure for regulated investment products.
On the trading and investment product front, CME already lists XRP derivatives, while Canary Capital and Grayscale offer investors structured exposure to XRP. The presence of AWS, Mastercard, and Stripe further signals a push toward integrating AI-driven payments, supported by the XRP Ledger’s capabilities for facilitating payment flows involving XRP and RLUSD.
Mini dictionary: RLUSD (Ripple Liquidity USD) is a stablecoin issued by Ripple, designed to provide consistent value and facilitate settlements on the XRP Ledger.
X Finance Bull highlighted that the joint participation of such industry leaders at Swell could strengthen existing relationships and open the way for wider use of XRP and the XRP Ledger in financial markets.
Existing connections signal institutional progressRather than focusing only on new announcements, X Finance Bull emphasized the importance of current partnerships and collaborations. BNY is already an active member in the RLUSD ecosystem. Mastercard has previously explored blockchain settlement processes using the XRP Ledger infrastructure, while Aviva Investors maintains a relationship with Ripple.
CME’s derivatives and established XRP investment products from Canary Capital and Grayscale are examples of how regulated financial instruments are now part of the institutional landscape. Additionally, SBI, a Japanese financial group, has maintained a long-term relationship with Ripple, and RLUSD has already gone live in Japan. The commentator also referenced a recent initiative where BTG Pactual fund shares were issued on the XRP Ledger through CSD BR, showcasing advances in regulated securities workflows, and mentioned the expansion of Ripple Prime’s activities with leading hedge fund Brevan Howard.
Institution/CompanyRole/Focus at Swell 2026BNYCustody, collateral, and banking transactionsMastercardPayment settlements, RLUSD integrationAviva InvestorsAsset tokenization on XRP LedgerZILORegulated investment infrastructureCMEXRP derivatives tradingCanary Capital, GrayscaleXRP investment productsAccording to the commentator, these developments reinforce a bullish view that Swell could be a platform for advancing institutional custody, collateral, lending, and liquidity solutions built on the XRP Ledger.
Swell 2026 to provide direction for Ripple’s institutional roadmapX Finance Bull argued that institutional adoption requires more than investor interest in $XRP. It spans custody solutions, settlement systems, liquidity, regulatory-compliant investment products, and infrastructure enabling large-scale engagement with digital assets.
Brad Garlinghouse, CEO of Ripple, will be joined by leading industry figures in New York, where expectations are high for new strategic partnerships, technical integrations, or product demonstrations. X Finance Bull cautioned that while the presence of these institutions lays the groundwork for innovation, attendance does not guarantee immediate launches or announcements.
For XRP holders, Swell 2026 presents a unique chance to monitor the evolution of Ripple’s institutional vision and to see if initiatives announced at the event will accelerate adoption and the use of XRP Ledger technology within conventional finance.
Per TradingBeats monitoring, Hyperliquid whale address 0x15b3…3a42 holds 250 BTC long positions, valued at approximately $20.69 million. The address is currently using 20x full leverage, with an average entry price of ~$67,524.6, unrealized profit of around $3.81 million, and a position return rate of roughly 451.8%. Previously, the address held about 309 BTC long positions at an average entry price of ~$79,792, before adjusting its position down to 250 BTC, which brought its average entry price to approximately $67,524.6. The current BTC contract mark price is around $82,776.9, roughly 22.6% higher than the address’s average entry price.
Hyperliquid has generated more than $1.4 billion in cumulative revenue, with over $1.26 billion spent on HYPE buybacks. Phantom and MetaMask have earned millions through Builder Codes, extending Hyperliquid’s trading infrastructure beyond its own interface. HYPE trades near $84.41 as open interest declines, while OpenETF tests tokenized investment funds on the network. Hyperliquid has generated more than $1.4 billion in cumulative protocol revenue, reinforcing its position in decentralized derivatives as its native HYPE token retreats from recent highs.
An October 8 Castle Labs research report found that the protocol has spent over $1.26 billion on open-market HYPE repurchases. It also estimates that Hyperliquid controls more than 56% of the onchain perpetual futures market by open interest.
Hyperliquid’s revenue remains heavily driven by its native perpetual trading business, with smaller contributions from spot markets and other protocol fee streams. The figures arrive alongside a less favorable short-term trading picture. HYPE was quoted at $84.41 on October 10, while derivatives open interest fell 1.95% over the preceding 24 hours.
A separate development, OpenETF’s October 6 testnet launch, shows how Hyperliquid’s infrastructure is being adapted for tokenized investment products rather than solely direct derivatives trading.
Hyperliquid’s Buyback Model Extends Beyond Its Exchange Castle Labs attributes much of Hyperliquid’s growth to a combination of trading infrastructure, third-party distribution and token economics.
According to the report, approximately 95% of fees collected through activities including HyperCore trading, Builder Codes and HIP-3 markets are directed toward HYPE repurchases.
This creates a direct relationship between fee generation and purchases of the native token. However, the cumulative buyback total does not reveal how much buying demand the protocol is generating at present.
The distinction matters because a historical spending figure cannot establish whether current purchases are sufficient to offset market selling.
Hyperliquid’s distribution model offers a clearer indication of how the protocol has expanded its commercial reach.
Through Builder Codes, third-party applications can route trades to Hyperliquid and collect additional fees on eligible orders.
Hyperliquid’s documentation confirms that these fees are processed onchain and require user authorization. Builder fees are capped at 0.1% for perpetual futures, with users able to revoke their approvals.
Castle Labs identifies two major beneficiaries:
Phantom: More than $25 million in cumulative Builder Codes revenue. MetaMask: More than $10.5 million in cumulative Builder Codes revenue. These earnings are significant because they demonstrate an established commercial incentive for wallets to distribute Hyperliquid’s trading products.
Rather than requiring every user to interact with its native trading interface, Hyperliquid can receive order flow from applications that already have their own audiences.
For wallet providers, derivatives trading becomes an additional source of transaction-based revenue.
The resulting competition is increasingly about distribution as well as execution quality. Hyperliquid benefits when integrated applications attract traders, but its position also depends on those applications continuing to route activity through the protocol.
HYPE Retreats as Derivatives Exposure Contracts The protocol’s revenue milestone has not prevented a correction in HYPE’s market price.
On the Coinbase daily chart, HYPE trades at approximately $84.41, down about 13% from its late-September peak near $97.
HYPE has pulled back from its September highs as selling pressure weighs on the token and momentum weakens. Source: TradingView An early-October recovery approached $95 before losing momentum, leaving the token below its previous high.
The 14-day Relative Strength Index (RSI) stands at 44.82, compared with its displayed moving average of 52.35.
With the indicator below 50, recent price momentum favors sellers. However, the reading remains above the conventional oversold threshold of 30.
The chart shows a pullback and weakening momentum, but does not establish a confirmed support test or reversal.
Derivatives positioning provides additional evidence of changing market participation.
The October 10 snapshot places aggregate HYPE open interest at approximately $2.4 billion, down 1.95% over 24 hours.
Hyperliquid accounts for the largest share of that exposure, followed by Binance and Bybit.
HYPE Open Interest by Exchange
October 10, 2026 | USD
EXCHANGE
OPEN INTEREST
Hyperliquid
$1.7B
Binance
$335.3M
Bybit
$252.2M
OKX
$94.5M
Kraken
$23.3M
Source: HYPE derivatives open-interest from Coinalyze, October 10, 2026.
Bars are scaled relative to Hyperliquid, the largest venue.
Figures are rounded.
Hyperliquid represents roughly 70% of the listed HYPE derivatives exposure, making it the dominant venue for trading leveraged positions in its own token.
That concentration differs from Castle Labs’ broader market-share estimate, which measures open interest across onchain perpetual futures markets rather than HYPE contracts specifically.
The decline in aggregate open interest indicates that outstanding positions have contracted. It does not, by itself, identify whether traders are closing long positions, reducing shorts or adjusting hedges.
A more conclusive assessment would require funding-rate and liquidation data alongside the price chart.
OpenETF Tests Tokenized Portfolio Management Beyond the exchange’s existing derivatives business, developers are experimenting with products that use Hyperliquid as underlying financial infrastructure.
According to information from Binance, OpenETF launched a testnet on October 6 that allows managers to create tokenized investment funds backed by portfolios traded on Hyperliquid.
According to the launch report, each fund includes publicly defined terms and ERC-20-compatible share tokens held in investors’ wallets.
The architecture separates fund ownership from portfolio execution.
On HyperEVM, smart contracts issue shares and handle subscriptions, redemptions and related payments. On HyperCore, the corresponding vault operates as the account used to trade the fund’s portfolio.
Managers direct trading activity without receiving the vault’s trading keys.
The initial design sets a minimum subscription of 100 USDC, although managers can establish a higher threshold. Managers must also purchase at least 100 USDC in fund shares and commit to a minimum 5% ratio.
Performance fees can range from 0% to 50%, with a 20% default, while annual management fees range from 0% to 2%, with a default of zero. Both rates become fixed after share issuance.
The testnet also includes a redemption adjustment fee that starts at 0.1% and rises with notional leverage, capped at 1%. These fees remain within the fund.
The model introduces a potential use case for Hyperliquid’s trading infrastructure: investment products in which token holders own fund shares while designated managers execute the underlying strategy.
However, the distinction between a working testnet and a live financial product is essential.
OpenETF currently uses test assets without monetary value and explicitly warns against depositing real funds. The project has not announced a mainnet launch date.
There is consequently no basis to attribute live fund inflows, assets under management or additional protocol revenue to OpenETF at this stage.
What Matters After the Revenue Milestone Hyperliquid’s reported financial performance shows that it has established a substantial fee-generating derivatives business, supported by a distribution network that includes major wallet applications.
The more immediate question for HYPE is whether current trading activity can sustain the pace of token repurchases while market positioning remains weaker.
Three indicators will help clarify that relationship: the rate of new protocol revenue, the value of ongoing buybacks and whether derivatives open interest stabilizes alongside price.
OpenETF adds another potential source of future activity, although its economic contribution cannot be assessed until a live deployment attracts users and capital.
For now, Hyperliquid’s cumulative revenue is established, its distribution model is producing measurable results, and HYPE’s recent price action shows that those achievements have not eliminated short-term selling pressure.
Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.
Per TradingBeats' monitoring, Hyperliquid whale address 0x5f91…65aa holds approximately 7,965 ETH long positions, with a position value of around $19.87 million, utilizing 16x leverage, an average entry price of ~$1,627, and current unrealized profit of ~$6.91 million. Additionally, the address holds roughly 168 BTC long positions, valued at ~$13.92 million, using 40x isolated leverage, an average entry price of ~$61,724, and unrealized profit of ~$3.54 million. The two long positions combined have a total unrealized profit of ~$10.45 million. As of press time, ETH’s contract mark price stands at ~$2,494.7, about 53.3% higher than its average entry price; BTC’s contract mark price is ~$82,809, roughly 34.2% above its average entry price.
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According to an official announcement, HyperEVM-based synthetic perpetual protocol Papertrade is set to officially launch trading at 22:00 tonight. Deposits will be suspended at 13:45 UTC, 15 minutes before launch, to ensure transactions receive top priority during the rollout. Per the protocol’s official website, pre-deposits have exceeded $90 million, with 7,280 addresses participating. The team opened pre-deposits on the 9th, noting that account creation and deposits will be significantly throttled once trading goes live. Pre-depositing helps avoid launch congestion, though there are no additional perks for early deposits during the pre-deposit window. Papertrade is a fully on-chain synthetic perpetual trading platform built on HyperEVM. It pulls prices from the BBO mid-price of Hyperliquid’s order book, with users trading directly against the protocol’s liquidity providers (LPs) rather than relying on traditional order book matching. Key features include high leverage, zero slippage, and no funding fees. Its native token PAPER has an initial supply of zero, with no pre-mining, team, or VC allocations. The only source of token minting is user losses or liquidations. During the initial launch phase, the token cannot be freely transferred and is primarily used for staking.
According to TradingBeats' monitoring, the implied probability of a 25 basis point Federal Reserve rate hike in October on Polymarket is only around 15.5%. Trader tetrose retains his earlier rate hike bets, while also holding approximately $4.45 million in short positions on Bitcoin (BTC) and the S&P 500 index on Hyperliquid. On the prediction market front, tetrose currently holds around 297,800 Yes contracts for a 25 basis point October rate hike, with an average entry cost corresponding to an implied probability of roughly 23.42%. As market rate hike expectations have cooled, this position is currently valued at around $46,200, with an unrealized loss of approximately $23,600. Meanwhile, after triggering a stop-loss yesterday, tetrose added a short position of roughly 20.95 BTC, worth around $1.7345 million, with an unrealized loss of about $6,491; he also holds an additional short position on the S&P 500 index worth approximately $2.7115 million, with an unrealized loss of around $1,666. The combined notional value of these two short positions is roughly $4.446 million.
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Tom Lee: Ethereum May Surpass $5,000 by Year-End, Expected to Hit $50,000 in This Cycle
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Papertrade has recorded a nominal trading volume exceeding $80 billion, with users incurring a cumulative loss of $4.73 million while attempting to farm PAPER tokens.
According to official website data, Papertrade recorded over $80 billion in cumulative notional trading volume within its first hour of launch. BlockBeats analyzed that the platform’s early trading frenzy may be tied to its unique mechanism. Per its official documentation, the issuance model of Papertrade’s native token PAPER works as follows: for every $1 a platform user loses, the protocol mints a certain amount of PAPER on a curve. When the protocol’s LP balance is below $2 million, the minting rate is fixed at 100 PAPER per $1 in losses; now that the LP pool size exceeds $2 million, PAPER token emissions have entered a decay phase. Likely driven by the above-mentioned "trading losses for tokens" mechanism, data shows that users on the platform have accumulated $4.73 million in total trading losses. Papertrade is a fully on-chain synthetic perpetual trading platform deployed on HyperEVM, which pulls prices from the BBO mid-price of Hyperliquid’s order book. Users trade directly against the protocol’s LP as counterparty, rather than via traditional order book matching. The protocol’s key selling points include high leverage, zero slippage, and no funding fees.
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Hedge funds’ net exposure to the US Magnificent Seven climbed to 22%, marking a new record high.
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Just half an hour after Papertrade’s launch, PAPER token emissions entered decay mode.
According to official data, Papertrade recorded a cumulative trading volume of $39.9 billion in its first 30 minutes post-launch. The platform’s contract open interest also dropped sharply, with Bitcoin and Ethereum contract positions standing at $1.27 billion and $890 million respectively. The initial trading boom may be linked to its project mechanism: per official documentation, PaperTrade’s native token PAPER is minted via a model where the protocol mints a set amount of PAPER on a curve for every $1 a platform user loses. When the LP balance is below $2 million, the minting ratio is fixed at 100 PAPER per $1 of losses; once the LP scale exceeded $2 million, PAPER token emissions entered a decay phase. Papertrade is a fully on-chain synthetic perpetual trading platform built on HyperEVM, which pulls prices from the Best Bid Offer (BBO) mid-price of the Hyperliquid order book. Users trade directly against the protocol’s liquidity provider (LP) as counterparty, rather than through traditional order book matching. The protocol’s key features include high leverage, zero slippage, and no funding fees.
Decentralized exchange Hyperliquid has generated revenue exceeding $1.4 billion, with more than $1.26 billion allocated to open-market HYPE token buybacks, research from Castle Labs shows. The platform continues to dominate the onchain perpetuals market, maintaining over 56% control by open interest and highlighting its substantial presence within the crypto derivatives sector.
Strong Buyback Mechanism Drives Token Market ActivityHyperliquid’s revenue model integrates derivatives trading activity with a significant token buyback strategy. According to various data sources, cumulative HYPE buybacks reached approximately $1.36 billion as of October 10, 2026. Over the previous 30 days, the platform acquired $72.2 million worth of HYPE on the open market, though reported totals vary based on methodology and reporting.
Strata Terminal reports that Hyperliquid has repurchased around 47.9 million HYPE tokens, representing 14.4% of the network’s circulating supply. These tokens are now managed by Hyperliquid’s Assistance Fund, rather than being permanently removed from circulation. This distinction means that even though buybacks have absorbed a significant portion of supply, the tokens are not destroyed and can possibly re-enter the market in the future.
Buybacks often create demand for native tokens, but price direction is also influenced by investor demand, liquidity, future unlock schedules, and other broader crypto market factors. Importantly, revenue figures do not necessarily equate to net profit, as costs and other factors may impact the bottom line.
Castle Labs data indicates Hyperliquid currently holds more than 56% of the onchain perpetual futures market by open interest, reflecting a substantial level of market participation. Open interest tracks the number of active derivative positions, providing an indicator of total market engagement rather than trading volume over specific periods.
Hyperliquid’s platform facilitates perpetual contracts, enabling users to take leveraged positions with no expiration date. This significant market share highlights the platform’s role in onchain derivatives trading, though its proportion could shift as new competitors or products emerge and as market participants adjust positions.
A notable development involved the distribution of 3.75 million HYPE tokens, valued at approximately $331 million, through an over-the-counter transaction. Hyperliquid Labs handled this allocation without introducing the tokens into public order books, reducing immediate selling pressure on the market.
Following the distribution, analyst Ajoy Roy reported that 1.25 million HYPE were restaked by the buyer. Details regarding the identity of the recipient and the total purchase value remain undisclosed. HYPE traded near $87 after the event, with the market absorbing the supply influx without significant visible impact on order book liquidity. However, as OTC transactions move tokens to new holders, there is ongoing supply risk if these recipients decide to sell or transfer tokens at a later date.
Growth Indicators and the Role of BuybacksMarket observers evaluate Hyperliquid’s growth using a combination of revenue generation, the scale of token buybacks, and market share statistics. The token buyback mechanism links platform usage directly to HYPE demand, while the exchange’s dominance in open interest signals its central role among onchain derivative protocols.
Key metrics for monitoring include monthly buyback expenditure, evolving protocol revenue, fluctuations in open interest, and future token releases. Strong demand can absorb new supply entering the market, but sustained balance between buyers and sellers remains vital. Neither a robust buyback program nor a leading market share ensures price appreciation, as broader conditions and supply factors play a role.
When tracking Hyperliquid’s income and buybacks, it is important to look beyond total figures. Trends in revenue, supply unlocks, and real market demand are crucial for evaluating whether the current economic model is sustainable.
Given the technical importance of monitoring token flows and investor actions in derivative protocols, similar attention is paid in the meme token market. A recent example demonstrates the impact of rapid trends: Fomo App data highlights a “Niu Lai” trade that converted a $99 investment into about $370,000 in days. In such environments, closely tracking investor timing and chosen tokens becomes essential. Fomo App integrates token discovery, live trading, social feeds, and leader rankings on one platform, providing tools for users to follow both market activity and major shifts within the meme token community.
According to official website information, the synthetic perpetual protocol Papertrade built on HyperEVM has officially launched. Its pre-deposit phase is now closed, with 11,465 addresses depositing a total of $138 million. Papertrade is a fully on-chain synthetic perpetual trading platform deployed on HyperEVM. It sources prices from the Best Bid/Offer (BBO) mid-price of Hyperliquid’s order book, enabling users to trade directly against the protocol’s liquidity providers (LPs) rather than relying on traditional order book matching. The protocol boasts high leverage, zero slippage, and no funding fees. Its native token PAPER has an initial supply of zero, with no pre-mining, team, or venture capital (VC) allocations. The only source of token minting is user losses or liquidations. During its early launch phase, the token cannot be freely transferred and is primarily used for staking.
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Just half an hour after Papertrade’s launch, PAPER token emissions entered decay mode.
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Strive CEO Matt Cole predicts Bitcoin (CRYPTO: BTC) could reach $500,000 by 2030 as mounting U.S. debt, treasury bond market intervention and a weakening dollar create conditions for a historic bull market.
Will Weak Dollar Fuel BTC’s Biggest Bull Run?In a recent interview with the “What Bitcoin Did” podcast, Cole predicted that the U.S. dollar could experience its largest decline of the Bitcoin era over the next three to seven years.
Cole argued that rising Treasury yields and mounting government debt could force policymakers to expand bond buybacks, potentially weakening the dollar.
“They’re going to try to effectively reduce the debt load by making the currency less valuable,” he said.
Cole expects intervention within 18 months, potentially fueling a stronger Bitcoin rally than the 2024–2025 cycle, supported by President Donald Trump’s preference for a weaker dollar.
However, he warned that rising yields could initially strengthen the dollar and pressure Bitcoin before policymaker’s act.
Bitcoin Could Reach $500,000 By 2030Cole maintained Strive’s long-term projection of around 50% compound annual growth in Bitcoin through 2030, potentially pushing prices toward $500,000.
He expects the next bull market to outperform the previous cycle, which he described as disappointing because Bitcoin failed to establish new highs against gold.
Cole also suggested Bitcoin may be entering a super cycle characterized by smaller bear-market drawdowns of 30%–50%, rather than the historical 80% declines.
He attributed the shift partly to growing institutional adoption and Bitcoin’s diminishing sensitivity to four-year halving cycles.
Cole argued that AI-driven productivity gains may not generate enough tax revenue to solve America’s debt problem, potentially forcing currency devaluation and strengthening Bitcoin’s long-term appeal.
Why Strive Is Betting On Amplified BTC ReturnsCole said Strive (NASDAQ:ASST) aims to capitalize on Bitcoin’s potential rally through its treasury strategy, maintaining roughly 50% amplified exposure using preferred equity financing.
Its preferred instrument, SATA carries a 13% financing cost, meaning sustained Bitcoin gains above that level could help Strive outperform the cryptocurrency, although risks remain.
Cole warned that rising Treasury yields could pressure Bitcoin in the short term but expects eventual government intervention to fuel a stronger bull market.
Bitcoin için zincir üstü veriler, piyasada toparlanma ihtimalini güçlendiren sinyaller üretmeye başladı. BIT tarafından geliştirilen kurallara dayalı piyasa modeli, iki aydır yüzde 67 net uzun pozisyon seviyesini korurken beş önemli gösterge de tarihsel olarak boğa piyasalarıyla ilişkilendirilen bölgelere geçti. Ancak Bitcoin’in yakın zamanda yaklaşık 7.000 dolar gerilemesi, yükseliş beklentisinin henüz kesinleşmediğini gösteriyor.
BIT Modeli Neden Yeniden Boğa Piyasasına İşaret Ediyor? BIT, 9 Ekim tarihli paylaşımında zincir üstü modelinin son durumunu açıkladı. Model, 1 Ekim 2025’te yüzde 100 net uzun pozisyonla hareket ederken 1 Kasım’da yüzde 33’e geriledi ve 1 Aralık’ta sıfıra indi. Bitcoin’deki düşüş sürecinin büyük bölümünde bu seviyede kalan model, 1 Eylül 2026’da yeniden yüzde 67’ye yükseldi.
Model, böylece aynı pozisyon oranını üst üste iki ay korudu. BIT’e göre beş göstergenin eş zamanlı olarak tarihsel açıdan yükselişle ilişkilendirilen seviyelere ulaşması, en son Ekim 2025’te görülen bir tabloyu yeniden ortaya çıkardı. Bu gelişme, Bitcoin döngüsünde toparlanma ihtimaline işaret etse de bütün göstergelerin olumluya dönmediği özellikle vurgulanıyor.
Bitcoin Maliyet Göstergeleri Ne Söylüyor? İlk gösterge, kısa vadeli gerçekleşen fiyat. Bu ölçüm, yakın zamanda alınan Bitcoin’lerin ortalama maliyetini tahmin ediyor. Bitcoin, Ekim 2025’te 112.300 dolar seviyesindeki bu ölçütün altına gerilerken Ağustos 2026’da 68.800 dolar seviyesinden yeniden üzerine çıktı. Güncel gösterge değeri 74.319 dolar olarak hesaplanıyor.
İkinci gösterge olan True Market Mean, piyasada aktif şekilde kullanılan sermayenin maliyet tabanını izliyor. Bu değer 77.460 dolar seviyesinde bulunurken CoinGecko verilerindeki Bitcoin fiyatı yaklaşık 82.000 dolardı. BIT, fiyatın bu eşiğin üzerinde kalıcı biçimde işlem görmesinin yükseliş senaryosunu daha güçlü hale getirebileceğini belirtiyor.
Bu iki gösterge, yatırımcıların maliyet seviyeleriyle mevcut fiyat arasındaki ilişkiyi değerlendirmeye yardımcı oluyor. Ancak fiyatın bu eşiklerin üzerinde bulunması, tek başına kalıcı bir yükseliş trendini garanti etmiyor.
MVRV, NUPL Ve VDD Göstergeleri Neden Önemli? Üçüncü gösterge olan MVRV, Bitcoin’in piyasa değerini gerçekleşen değeriyle karşılaştırıyor. MVRV okuması 0,20 seviyesinde bulunuyor. Bu ölçüm, piyasanın mevcut değerlemesini zincir üstündeki maliyet verileriyle birlikte değerlendirmek için kullanılıyor.
Dördüncü gösterge NUPL, yatırımcıların gerçekleşmemiş kâr ve zarar durumunu ölçüyor. NUPL yeniden pozitif bölgeye geçerek Ekim 2025’ten bu yana ilk kez bu seviyeye ulaştı. Bu değişim, toplam yatırımcı grubunun kâğıt üzerindeki kâr durumunun iyileştiğine işaret ediyor.
Beşinci gösterge ise Value Days Destroyed (VDD). Bu ölçüm, Bitcoin birimlerinin ne kadar süredir tutulduğunu ve değerlerini dikkate alarak zincir üzerindeki hareketlerini izliyor. VDD de yükselişle ilişkilendirilen bölgeye geçti. Böylece beş göstergenin tamamı aynı anda olumlu sinyal üretmeye başladı.
Bitcoin İçin Yükseliş Senaryosunu Hangi Riskler Bozabilir? Olumlu zincir üstü verilere rağmen Bitcoin’in fiyat performansı baskı altında. CoinGecko verilerine göre Bitcoin yaklaşık 82.000 dolardan işlem görürken son yedi günde yüzde 4,5, son bir yılda ise yüzde 32’den fazla değer kaybetmişti. Fiyat, 87.000 doların üzerine çıkmayı başaramadıktan sonra yaklaşık 7.000 dolar geriledi.
Bu düşüşle aynı dönemde ABD hükümetine ait önemli miktarda BTC’nin Coinbase Prime’a aktarılması, 7 ve 8 Ekim tarihlerinde spot Bitcoin ETF’lerinden toplam 731 milyon dolarlık çıkış yaşanması ve 1 milyar doları aşan gerçekleşmiş kâr satışları öne çıktı.
BIT, modelin henüz tamamen uzun pozisyona geçmediğini belirtiyor. Bazı göstergeler hâlâ yükseliş sinyali vermediği için Bitcoin’in kısa vadeli gerçekleşen fiyatın ve True Market Mean seviyesinin altında kalıcı biçimde gerilemesi erken bir uyarı olabilir.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
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Cryptocurrency analyst Timothy Peterson, in his latest assessment, has made a prediction for a record high price for Bitcoin.
Crypto analyst Timothy Peterson suggests that the price of Bitcoin (BTC) could reach an all-time high (ATH) within the next 90 days, while also sharing a notable price target for a potential short-term decline.
Peterson argued that a new record might be imminent by examining Bitcoin’s past price movements. According to the analyst, in past cycles, whenever Bitcoin recovered from a point where it was 50 percent below its all-time high and rose to 30 percent below the peak, it invariably recorded a new ATH.
Peterson noted that in all of the historical examples in question, Bitcoin hit a new record high within 75 days at the latest, with a median of only 24 days. Arguing that this statistic holds true under different macroeconomic conditions, the analyst stated that in past examples, Bitcoin reached new highs directly without retracing to a new cycle bottom.
Peterson stated that the critical threshold for Bitcoin is around $88,000, predicting that the price could surpass this level later in October. According to the analyst, breaking above this level would signal that a new all-time high is imminent.
On the other hand, Peterson also answered a question regarding how low Bitcoin could fall in its current correction.
When a user asked if Bitcoin would drop to the mid-$70,000 level before returning to an uptrend, Peterson indicated $77,000 as a possible bottom.
*This is not investment advice.
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Kripto para piyasasında Bitcoin‘in (BTC) geleceğine ilişkin dikkat çekici bir değerlendirme geldi. Dijital varlık yönetim şirketi CoinShares, Bitcoin fiyatının önümüzdeki dönemde yalnızca ABD Merkez Bankası’nın (FED) faiz kararlarından değil, ABD Hazine tahvil piyasasındaki gelişmelerden de önemli ölçüde etkilenebileceğini açıkladı. Özellikle uzun vadeli tahvil getirilerindeki yükseliş, Bitcoin üzerindeki baskıyı artırırken yatırımcıların gözünü ABD ekonomisindeki gelişmelere çevirdi.
CoinShares Açıkladı: Bitcoin Fiyatını Ne Belirleyecek? CoinShares tarafından yayımlanan değerlendirmeye göre Bitcoin’in fiyat hareketleri ile ABD Hazine tahvillerinin getirileri arasındaki ilişki giderek daha fazla önem kazanıyor. Şirket, özellikle uzun vadeli tahvil piyasasında yaşanan değişimlerin Bitcoin yatırımcılarının kararları üzerinde belirleyici olabileceğine dikkat çekiyor. Raporda yer alan verilere göre ABD’nin 10 yıllık Hazine tahvil getirisi yüzde 5,3 seviyesini aşarken, 30 yıllık tahvil getirisi yüzde 5,7’nin üzerine yükseldi. Bu oranlar, uzun vadeli tahvil getirilerinin son yirmi yılı aşkın dönemin en yüksek seviyelerine yaklaştığına işaret ediyor.
CoinShares Araştırma Başkanı James Butterfill, ABD Hazine tahvil getirilerindeki yükselişin nedenlerinin Bitcoin’in gelecekteki performansı açısından kritik önem taşıdığını belirtti. Butterfill’e göre tahvil getirilerindeki artış güçlü ekonomik büyüme beklentilerinden kaynaklanıyorsa Bitcoin üzerindeki baskı devam edebilir. Ancak yükselişin arkasında ABD’nin artan kamu borcu ve mali sürdürülebilirliğine yönelik endişeler bulunuyorsa farklı bir senaryo ortaya çıkabilir. Bu durumda bazı yatırımcılar, geleneksel finansal sistemdeki risklere karşı Bitcoin’i alternatif bir varlık olarak değerlendirmeye başlayabilir. Özellikle ABD’nin borç yüküne ilişkin kaygıların güçlenmesi, Bitcoin’in uzun vadeli yatırım aracı olarak yeniden gündeme gelmesine katkı sağlayabilir.
Bitcoin Fonlarına 11,1 Milyar Dolarlık Giriş CoinShares’in paylaştığı verilere göre kripto para yatırım ürünlerine temmuz ayının ortalarından itibaren yaklaşık 11,1 milyar dolarlık net sermaye girişi gerçekleşti. Bu gelişme, söz konusu dönemde dijital varlık yatırım ürünlerine yönelik güçlü talebin oluştuğunu gösteriyor. Ancak şirket, son haftalık verilerde fon girişlerinin belirgin şekilde yavaşladığına dikkat çekti. Yatırımcıların daha temkinli hareket etmeye başlaması, kripto para piyasasındaki kısa vadeli belirsizliğin devam edebileceğine işaret ediyor. Özellikle Bitcoin yatırım ürünlerine yönelik sermaye akışları, kurumsal yatırımcıların piyasaya bakışını değerlendirmek açısından önemli göstergeler arasında bulunuyor. Fon girişlerinin yeniden hızlanması talep açısından olumlu bir gelişme olarak değerlendirilebilirken, çıkışların artması satış baskısını güçlendirebilir.
Bitcoin Yükselecek mi? Gözler FED ve ABD Tahvil Piyasasında Bitcoin’in önümüzdeki dönemdeki fiyat hareketlerinde FED’in para politikası kararlarının yanı sıra ABD Hazine tahvil getirileri ve kurumsal fon akışları da yakından takip edilecek. CoinShares’in değerlendirmesi, yükselen tahvil getirilerinin Bitcoin için her zaman aynı sonucu doğurmayabileceğini ortaya koyuyor. Özellikle getirilerdeki artışın ekonomik büyümeden mi yoksa ABD’nin mali görünümüne ilişkin endişelerden mi kaynaklandığı, yatırımcıların Bitcoin’e yaklaşımını değiştirebilir.
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Canary Capital CEO Steven McClurg sees an opportunity in Bitcoin (CRYPTO:BTC) and other alternative assets even as he warns that 10-year U.S. Treasury yields could reach 8% within four years. His argument: rising borrowing costs could pressure debt-dependent companies and long-duration bonds, encouraging investors to seek alternatives — including cryptocurrency.
"The alternatives are TIPS, well-capitalized companies, commodities, and crypto (which do not issue debt)," McClurg said in an interview with Benzinga.
In his investment thesis, McClurg argues that persistent government borrowing, defense spending and the capital-intensive AI build-out could sustain upward pressure on long-term yields.
Why McClurg Is Watching BitcoinHigher interest rates can weigh on companies that rely on borrowing to fund operations and expansion. Meanwhile, rising yields can hurt existing bond prices, particularly those of longer-duration securities.
McClurg believes investors could look beyond these traditional investments toward assets that do not carry the same debt obligations.
His Bitcoin thesis also rests on global liquidity rather than a simple comparison with equities.
"Bitcoin has time periods correlated to equities, but most time periods are not. The greater correlation is to Global M2 money supply, which is currently growing at a 7% clip, and could grow more if central banks have to print their way out of debt," he said.
That distinction matters because higher interest rates do not automatically benefit Bitcoin. If tighter financial conditions strengthen the dollar, raise real yields or reduce investors’ appetite for risk, cryptocurrency prices could come under pressure even as government debt expands.
Bitcoin ETFs Offer a Regulated Investment RouteInvestors looking for exchange-traded exposure to Bitcoin could examine the iShares Bitcoin Trust ETF (NASDAQ:IBIT) and the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC). Both seek to track Bitcoin’s price, allowing investors to gain exposure through brokerage accounts without directly managing cryptocurrency custody, and both carry a 0.25% sponsor fee.
Asked wthether he would rather own Bitcoin directly through a spot ETF or does he see a stronger opportunity elsewhere in the digital-asset ecosystem, if his higher-rate scenario plays out, he said that he prefers ETFs.
"ETFs generally charge no fees to trade with a $.01-.02 spread (2-4bps)," he said, contrasting them with exchange trading fees that he said could reach 40–150 basis points at Coinbase Global Inc (NASDAQ:COIN). Actual costs vary by platform, transaction size and market conditions, and ETF investors still pay fund expenses and bid-ask spreads.
The Liquidity QuestionMcClurg’s outlook ultimately depends partly on how global money supply evolves. If central banks expand liquidity to manage mounting debt burdens, Bitcoin could benefit under his thesis. But that outcome is not guaranteed, and Bitcoin remains a volatile asset rather than a dependable hedge against rising rates.
For ETF investors, the key question is whether expanding global liquidity can support Bitcoin even as higher Treasury yields make conventional income-producing investments more attractive.
Papertrade, a fully on-chain perpetual futures exchange built on HyperEVM, went live on October 10, 2026. Bitcoin futures open interest on the platform climbed to $3 billion shortly after launch.
A fast start, measured in notional dollars Trading opened at 10 a.m. ET, or 14:00 UTC. In under 10 minutes, the exchange had recorded $14.4 billion in notional trading volume.
Ether futures open interest reached $2.66 billion, trailing Bitcoin’s $3 billion. Activity was concentrated almost entirely in those two markets.
Open interest is the total value of positions still open at a given moment. Volume counts every trade, including positions opened and closed seconds later. Both figures are notional, meaning they reflect the full size of leveraged bets rather than the cash traders actually posted.
That distinction matters a lot here. Papertrade offers leverage of up to 1,000x on its synthetic perpetual contracts.
At 1,000x, a trader can control $1,000 of exposure with $1 of margin. So billions in notional activity can rest on a far smaller pool of real deposits.
Before launch, the exchange collected pre-deposits estimated at approximately $85 million to $138 million. That money came from more than 11,000 addresses.
How the machine is built Papertrade does not use a traditional orderbook. Positions open and close atomically, in a single step, rather than being matched against resting orders from other traders.
Prices are pulled from the midpoint of Hyperliquid’s best bid and offer. The design aims to avoid slippage and conventional trading fees.
To handle expected launch-day congestion, initial trades were routed through Papertrade’s own frontend. Whitelisted relayers supported that flow.
Risk limits are built in. Each market side carries $1 billion in open-interest headroom, and individual positions are capped at $10 million in atomic size.
The house starts with nothing The most unusual feature sits on the other side of every trade. Papertrade’s house liquidity pool began empty.
That pool is meant to grow as traders lose money. Losing positions feed the house, and the house pays out winners.
The model therefore leans on trader losses or delayed settlement to fund payouts. Combined trader balances and house liquidity are not all available to pay winning trades.
The exchange also carries a profit haircut, or asymmetric profit-and-loss fee, inherited from earlier trading models. In plain terms, winners may not walk away with their full gross gain.
A token minted from losses Papertrade’s native token, PAPER, launched with no initial supply. It comes into existence only when traders realize losses.
While the liquidity pool holds less than $2 million, the protocol mints 100 PAPER for every $1 lost. That rate declines as the pool grows.
Transfers are restricted. Initially, PAPER can only be moved for staking.
What this means for traders and rival venues Papertrade runs on HyperEVM and prices off Hyperliquid, so it is effectively layering a new risk model on top of an existing market’s price discovery. Pricing is only as reliable as the reference market, and any disruption on Hyperliquid’s side could flow straight into Papertrade’s contracts.
The house liquidity pool starts at zero and is fine when traders lose on aggregate. A sharp, one-directional move in Bitcoin or Ether could flip that, with payouts depending on delayed settlement and the haircut mechanics.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin’s (BTC) overall volatility has declined sharply in 2026, yet significant extreme price movements have occurred more often than during the full 2018 bear market.
At the same time, Bitunix analysts have highlighted $82,800 as a critical technical level while US spot Bitcoin ETF demand softens, following an earlier price drop that briefly tested near $80,000 as long liquidations topped $1 billion.
Market analysis indicates that Bitcoin recorded 10 trading days in 2026 through early October in which its price moved at least three standard deviations from its recent pattern, measured against the preceding 30-day realized volatility.
That count surpasses the eight such “3-sigma” days registered across all of 2018, a period when Bitcoin lost roughly 73 percent of its value.
Annualized realized volatility has fallen to about 46 percent year-to-date from 84 percent in 2018.
The average size of these extreme moves has also decreased, to roughly 7 percent from approximately 10 percent eight years earlier.
In relative terms, Bitcoin is experiencing more unusually large swings compared with its quieter recent baseline, even though the absolute magnitude of those swings is smaller.
Comparisons with other assets reinforce the pattern. Since 2024, Bitcoin’s annualized volatility has been roughly comparable to Nvidia’s at about 47 percent, yet Bitcoin has logged 26 three-sigma days over that interval versus eight for Nvidia, 16 for the S&P 500, and 12 for gold.
In a normal distribution, about 99.7 percent of observations fall within three standard deviations, making these events statistically rare; a higher frequency therefore signals that the asset remains susceptible to sudden jolts even as average volatility cools.
Standard risk models that rely primarily on recent lower volatility readings may understate tail risk.
Bitcoin continues to exhibit periods of relative calm interrupted by abrupt re-pricing, despite greater institutional participation, the introduction of spot Bitcoin ETFs, and deeper market liquidity that have dampened ordinary daily fluctuations.
Macroeconomic shocks and crowded positioning in derivatives markets continue to trigger sudden jumps or drops.
This volatility behavior coincides with a more moderate cycle drawdown than in earlier periods.
Bitcoin reached an all-time high near $126,200 in October 2025 before declining toward lows near $58,000 by mid-2026, representing a drop of approximately 53–54 percent.
Previous cycles often produced peak-to-trough declines of 70–82 percent.
By early October 2026, the price was trading in the mid-$80,000 range, about 32 percent below the prior year’s peak.
The post-ETF environment has been associated with more staircase-style price action, featuring gradual advances interrupted by concentrated corrections rather than prolonged cascading liquidations.
The latest correction underscored remaining sensitivity to leverage and external factors.
Bitcoin retreated from a peak near $86,995 on October 5, falling approximately 2.6 percent on October 7 and another 1.9 percent on October 8, and touched an intraday low around $80,400–$80,434.
Over a 24-hour window, cryptocurrency derivatives liquidations exceeded $1.1 billion according to CoinGlass data, with long positions accounting for the large majority (roughly $1.05 billion in reported figures).
Bitcoin-specific long liquidations were near $220 million against substantially smaller short liquidations.
Open interest in Bitcoin futures declined from a recent peak near $28.2 billion.
The move occurred against a backdrop of elevated oil prices, rising Treasury yields, and Federal Reserve minutes that left open the possibility of further policy tightening.
US spot Bitcoin ETFs recorded net outflows of $484.9 million on October 7 and $244.1 million on October 8, totaling $729 million over the two sessions and reversing an inflow of $118.8 million on October 6, according to Farside Investors data.
Bitunix analysts have identified $82,800 as the first key level Bitcoin needs to reclaim in order to regain upward momentum.
Following a rebound toward $82,500 from the recent low near $80,434, the recovery remained unconfirmed while the price traded below that threshold.
A sustained move above $82,800, supported by healthier derivatives positioning and easing ETF outflows, could open the way toward the $85,000–$87,000 region.
Failure to hold the level and a break beneath the recent low near $80,400 would shift focus to the $79,700–$77,000 demand zone, with deeper support potentially in the $70,500–$72,900 area if selling pressure intensifies.
Heavy liquidations by themselves do not confirm a market bottom; price stabilization and renewed spot demand offer stronger confirmation.
Positioning among larger accounts remains mixed, with some groups holding substantially more short exposure and others leaning long, though such data can reflect hedges rather than directional views alone.
For longer-term investors, the combination of lower average volatility and shallower historical drawdowns has made Bitcoin easier to incorporate into diversified portfolios.
For active traders using leverage, however, the quieter day-to-day environment can encourage larger positions that remain vulnerable to the more frequent extreme moves. Whether ETF flows stabilize and whether the $82,800 level is reclaimed will help determine whether the recent decline was a temporary pause or the beginning of a deeper test of lower support zones.
