Ray Dalio znovu doporučil držet zlato a menší podíl bitcoinu, protože federální dluh USA překročil 40 bilionů USD. Bitcoin se mezitím vyšplhal směrem k 80 000 USD.
Billionaire investor Ray Dalio has renewed his support for holding gold and some Bitcoin as U.S. federal debt has crossed $40 trillion, and BTC has rallied toward $80,000.
Summary
U.S. federal debt reached $40.05 trillion on Aug. 18, according to Treasury data. Dalio advised investors to favor gold and some Bitcoin over debt assets such as bonds. Bitcoin has climbed from nearly $63,000 to the upper $70,000 range this week. Treasury will double some long-dated debt buybacks to at least $4 billion per operation. Ray Dalio, writing in an X post, said the U.S. government’s financial position had reached an inflection point as its debt burden approached a level that may become difficult to manage without severe economic pain.
The Bridgewater Associates founder advised investors to spread their exposure across asset classes and countries with strong finances. He also recommended limiting exposure to debt assets such as bonds while holding more gold and a smaller allocation to Bitcoin.
“As general advice, I suggest diversifying well in asset classes and countries that have strong income statements and balance sheets and are not having great internal political and external geopolitical conflicts, underweighting debt assets like bonds, and overweighting gold and a bit of Bitcoin,” Dalio said.
His comments followed another major milestone for U.S. public finances. The federal government’s total outstanding debt reached $40.047 trillion on Aug. 18, up from $39.987 trillion one day earlier, according to the Treasury Department’s Debt to the Penny database.
Of the Aug. 18 total, approximately $32.27 trillion was debt held by the public, while about $7.78 trillion consisted of intragovernmental holdings. The government ended 2025 with $37.64 trillion in federal debt, meaning the total had increased by about $2.4 trillion in less than eight months.
Bitcoin and gold can reduce portfolio risk Dalio said an allocation of roughly 10% to 15% to gold could lower a portfolio’s overall risk because the metal often behaves differently from stocks and debt securities during periods of financial stress.
Bitcoin received a more limited endorsement. Dalio described it as part of the group of assets investors could hold outside conventional debt markets, though his suggested positioning still placed more weight on gold.
His latest statement follows years of gradually changing views on the cryptocurrency. Dalio disclosed in 2021 that he owned some Bitcoin and later described it as an alternative, gold-like asset, while continuing to question whether governments and central banks would adopt it as reserve money.
In October 2025, crypto.news examined Dalio’s position that Bitcoin was unlikely to become a reserve currency. The report noted that he favored gold because of its long history, liquidity, and acceptance among central banks, even as he recognized Bitcoin as a possible hedge against monetary expansion and heavy government borrowing.
Dalio’s portfolio guidance is not a prediction that Bitcoin will rise whenever federal debt increases. His recommendation rests on diversification and reducing dependence on assets tied to highly indebted governments, rather than replacing an entire investment portfolio with BTC or gold.
For U.S. investors, both assets are available through regulated products as well as direct ownership. Spot Bitcoin exchange-traded funds provide exposure through U.S. brokerage and retirement accounts, while gold can be held through exchange-traded products, mining shares, or physical bullion. Each route carries different fees, custody risks, and tax treatment.
U.S. debt concerns meet Bitcoin’s rally toward $80K Bitcoin’s advance has placed Dalio’s comments alongside a sharp change in crypto market conditions. BTC fell to the $62,000–$63,000 area earlier this week before recovering through $70,000 and entering the upper $70,000 range.
The move ended several weeks of sideways trading and pushed Bitcoin to its highest level since May. BTC was trading near $77,600 when checked, according to market data, leaving the $80,000 level as the next closely watched psychological barrier.
Forced buying from short sellers helped accelerate the initial breakout. When Bitcoin crossed $69,000, exchanges liquidated more than $1 billion in bearish positions within one hour, requiring some traders to purchase BTC to close leveraged bets.
Spot demand then added support. U.S. spot Bitcoin ETFs attracted about $517 million on Aug. 19 and another $606 million on Aug. 20, according to SoSoValue data cited in recent market coverage. The two sessions generated more than $1.1 billion in combined net inflows.
As previously reported, Bitcoin gained about 18% in two days before clearing $76,000. The report identified $70,000 to $72,000 as an important support area, while resistance remained near $80,000 to $82,000.
ETF inflows offer a direct U.S. connection to the rally because the funds must obtain Bitcoin exposure as investors add capital. Short liquidations, by comparison, represent forced derivatives activity that may fade once leveraged bearish positions have been closed.
Treasury doubles long-dated debt buybacks Alongside the $40 trillion debt milestone, the U.S. Treasury announced on Aug. 19 that it would increase the size of liquidity-support buybacks for longer-dated nominal government securities.
The maximum purchase size will rise from $2 billion to at least $4 billion per operation for securities in the 10-to-20-year and 20-to-30-year maturity sectors, according to the Treasury’s official announcement. The change takes effect on Sept. 9 and will remain in place through Nov. 4, when the department plans to provide further information during its next quarterly refunding.
Treasury said the increase would provide more liquidity in long-dated sectors where market participants had submitted a high volume of eligible offers. Buybacks allow the government to repurchase older, less-liquid bonds and may improve trading conditions in parts of the Treasury market.
The operations are not Federal Reserve asset purchases, money creation or direct support for cryptocurrency. Market participants nevertheless responded to the announcement as long-dated Treasury yields declined and demand for risk assets improved.
A recent market report linked Bitcoin’s initial 11.4% rise above $71,000 to the buyback announcement, renewed ETF inflows and short liquidations. The report said Treasury’s decision helped the liquidity backdrop but did not establish that bond buybacks alone caused the rally.
Dalio’s warning addressed the underlying debt burden rather than the mechanics of the buyback program. He said government finances should be repaired while economic conditions remain relatively strong because borrowing requirements tend to increase during a contraction.
Policies, political changes, and wars could either speed up or delay the point at which debt becomes unmanageable, according to Dalio. Waiting for an economic downturn would leave policymakers with fewer options because weaker tax revenue and additional government support programs typically increase funding needs.
Fed policy remains a risk for Bitcoin investors While lower long-term yields have supported Bitcoin, Federal Reserve policy remains a separate source of risk for U.S. investors. The Fed kept its target rate at 3.5% to 3.75% in July but faced three dissenting votes from officials who preferred a quarter-point increase.
In its July policy statement, the Federal Open Market Committee said inflation remained above its 2% goal, partly because supply shocks had raised prices in sectors including energy. The committee also said it would “deliver price stability.”
Fed Chair Kevin Warsh and the committee face another policy decision on Sept. 15–16. Higher interest rates can raise the returns available on cash and government bonds, which may reduce demand for non-yielding assets such as gold and volatile assets such as Bitcoin.
The July vote showed that pressure for tighter policy already existed inside the Fed. Beth Hammack, Neel Kashkari, and Lorie Logan opposed the decision to hold rates steady and supported a 25-basis-point increase instead.
Goldman Sachs se vrátil jako největší institucionální držitel XRP ETF s podílem v hodnotě 86,5 milionu USD po úplném výstupu v předchozím čtvrtletí. Největší pozici má ve Franklin Templeton XRPZ.
Goldman Sachs has regained its position as the largest institutional holder of XRP exchange-traded funds, after fully exiting its XRP ETF positions in the previous quarter. The Wall Street bank rebuilt its XRP ETF portfolio in the second quarter of 2026, with newly disclosed filings revealing major additions to its holdings.
Goldman Sachs increases XRP ETF exposureThe bank’s updated XRP ETF portfolio features investments across funds managed by Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale. Goldman Sachs reported notable increases in share counts for several of these funds, signaling renewed commitment to the XRP market.
Its largest position was 2,238,407 shares in Franklin Templeton’s XRPZ. Additionally, Goldman held 2,208,949 shares in the Bitwise XRP ETF, 1,759,090 shares of Canary’s XRPC, and 806,126 shares in 21Shares’ TOXR fund. The bank also reported 377,619 shares in Grayscale’s GXRP.
Goldman Sachs’ latest quarter filings valued the overall XRP ETF position at $86.5 million. In comparison, its previous exposure, before a full exit, was reported at approximately $152 million. The recent re-entry marks a substantial, but comparatively smaller, allocation.
FundShares HeldFranklin Templeton XRPZ2,238,407Bitwise XRP ETF2,208,949Canary XRPC1,759,09021Shares TOXR806,126Grayscale GXRP377,619Alongside its ETF holdings, Goldman Sachs disclosed 365,976 shares in XRPN, a security offered by Armada Acquisition Corporation II. The filing noted Ripple-backed Evernorth Holdings is pursuing a merger with the special purpose acquisition company (SPAC) to list on Nasdaq.
Mini dictionary: SPAC (Special Purpose Acquisition Company): A publicly traded company created specifically to acquire or merge with another business, allowing the target firm to go public more quickly and with fewer regulatory hurdles than a traditional initial public offering.
Evernorth Holdings confirmed progress on the proposed merger, which aims to facilitate the company’s public listing. Goldman Sachs included its XRPN stake with the XRP ETF disclosures in its quarterly report.
Broader institutional interest and market inflowsAdditional major banks, including JPMorgan, Morgan Stanley, and Bank of America, also disclosed XRP ETF holdings for the second quarter of 2026. These filings indicate growing institutional engagement with digital assets among leading US financial players.
The renewed investment activity aligns with increased efforts by major institutions to further tokenization initiatives and digital treasury management solutions. Market participants are also expanding real-time cross-border transaction systems to support evolving digital payment frameworks.
Recent data from SoSoValue showed that the US spot market for XRP ETFs posted $13.24 million in net inflows on Thursday. Bitwise accounted for $9.9 million, while Franklin Templeton reported $3.34 million in new investments. Total assets under management in XRP ETFs reached $1.17 billion, and total net investment in these products topped $1.53 billion.
IssuerNet InflowBitwise$9.9 millionFranklin Templeton$3.34 millionTotal US XRP ETF Market$13.24 millionPositive market sentiment was reflected in ongoing policy discussions in Washington. Ripple’s CEO, Brad Garlinghouse, and other crypto industry leaders attended Clarity Act discussions at the White House as regulatory debate intensified.
Ripple-backed Evernorth Holdings moved closer to completing its merger with Armada Acquisition Corporation II, aiming for a Nasdaq listing as institutional XRP ETF activity accelerates.
XRP price surges on rising activityXRP rose sharply in the past 24 hours, reaching about $1.37 with a 16% increase. Over the past week, CoinMarketCap reported a gain of 38% in XRP, mirroring the broader cryptocurrency market’s recovery.
Daily trading volume surged by 113.47% within 24 hours, reflecting intensified market interest and heightened trading activity as XRP’s price advanced.
XRP daily trading volume spiked more than 113%, signaling a significant uptick in buying and selling as the cryptocurrency rebounded strongly.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple loni zpracoval transakce v objemu 16 bilionů USD díky akvizicím Hidden Road a G-Treasury. Garlinghouse uvedl, že na řetězci se zatím vypořádává jen asi 0,1 % objemu.
Ripple CEO Brad Garlinghouse has disclosed that Ripple’s business ecosystem processed $16 trillion in transactions last year, highlighting the growing scale of the company’s global financial operations. This figure reflects the combined transaction volume from newly acquired businesses that now operate under Ripple.
Major acquisitions drive transaction volumeGarlinghouse attributed Ripple’s $16 trillion transaction total to the integration of two acquisitions completed during the previous year. The company acquired Hidden Road, a non-bank prime broker responsible for approximately $3 trillion in cleared transactions, and G-Treasury, a treasury management software provider which processed $13 trillion in transaction activity.
Today, Ripple operates these entities as Ripple Prime and Ripple Treasury, forming the backbone of the company’s expanding business. Garlinghouse described the resulting combined transaction volume as similar in scale to the activity handled by large global payment processors such as Visa.
Both Ripple Prime and Ripple Treasury are currently experiencing what Garlinghouse described as record years, and the CEO expressed confidence that the overall volume will continue to climb. He stated that the company anticipates increasing financial activity as demand among corporate clients rises.
Ripple’s combined transaction flow through its acquired businesses reached $16 trillion last year, a figure Garlinghouse compared to Visa’s network scale. These segments are reporting record performance, further boosting Ripple’s expectations for transaction growth.
Mini dictionary: G-Treasury is a treasury and cash management software company that assists organizations in automating payments, managing liquidity, and optimizing financial workflows.
On-chain settlement remains limitedGarlinghouse drew attention to the relationship between the total transaction volume and blockchain settlement. He estimated that currently only about 0.1% of Ripple’s $16 trillion in transaction flow settles on-chain in stablecoins, XRP, or similar blockchain-based assets. Each additional 0.1% migrated on-chain could represent an estimated $160 billion in transaction activity.
Ripple’s CEO outlined a long-term goal to boost the share of transaction volume completed with blockchain-based settlement. He said this strategy aims to provide corporate clients with increased efficiency in terms of speed, cost, and transaction certainty.
Business UnitTransaction VolumeStatusRipple Prime (Hidden Road)$3 trillionActive, Record YearRipple Treasury (G-Treasury)$13 trillionActive, Record YearTotal Ripple Ecosystem$16 trillionGrowingCorporate demand for stablecoin solutions increasesGarlinghouse observed a recent uptick in outreach from chief financial officers and treasurers, who are now seeking information on blockchain settlement and stablecoin use cases. He explained that many of these inquiries originate from executives unsure how to unlock idle capital distributed across global subsidiaries.
According to Garlinghouse, Ripple has been asked to assist these organizations in maximizing global liquidity and improving operational flexibility by utilizing stablecoins and other blockchain technologies. This increasing attention from financial decision-makers points to broader adoption of blockchain within established corporate finance practices.
Executives are now turning to Ripple for guidance on how stablecoins and blockchain systems can help unlock trapped corporate capital and manage global liquidity more efficiently.
Emphasis shifts to real utility in the crypto sectorAddressing cryptocurrency market dynamics, Garlinghouse emphasized the importance of developing real-world utility, suggesting that industry sustainability relies on genuine use cases rather than speculation or meme coins.
He outlined how Ripple’s expansion into large-scale financial services positions the company to demonstrate tangible benefits for institutional clients, especially as more businesses explore blockchain-based settlement.
While most of Ripple’s activity currently remains off-chain, Garlinghouse believes the growing shift toward on-chain settlement could result in significant increases in blockchain transaction volume going forward.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Brad Garlinghouse uvedl, že Ripple během čtyřleté bitvy se SEC utratil 150 milionů USD za právníky. Kvůli nejistotě firma při žalobě přesunula 80 % náboru mimo USA.
Brad Garlinghouse, CEO of Ripple, addressed the CFTC Innovation Advisory Committee, outlining the company’s four-year legal battle with the SEC and the impact of regulatory uncertainty on both Ripple and the digital asset industry in the United States.
$150 million in legal costs over four yearsGarlinghouse began by thanking the Commodity Futures Trading Commission (CFTC) for its hospitality and quickly moved to the difficulties Ripple faced under the previous administration. He described Ripple as being “at the center of the bullseye of the SEC’s lawfare,” noting that leadership at the regulatory level had a direct effect on the industry’s trajectory.
He provided figures to demonstrate the toll: Ripple paid $150 million in legal fees to external counsel during its extended fight. Garlinghouse explained that most companies would not have survived such pressures, as many firms in the sector were “bullied into submission” even before lawsuits were filed. He emphasized that the challenges Ripple faced shaped the entire industry’s perception of the regulatory landscape at that time.
Ripple devoted $150 million to external legal defense against the SEC over a four-year period, a level of expenditure that Garlinghouse argued would have crippled smaller firms and discouraged broader industry participation.
Ripple’s global hiring shiftsBeyond legal costs, Garlinghouse highlighted the operational impact. He revealed that 80% of Ripple’s hiring during the court case occurred outside the United States. He cited the establishment of Ripple’s second-largest office in London as a direct response to the regulatory environment in the U.S. at that time.
Garlinghouse connected this trend to business fundamentals, arguing that companies will not invest or create jobs where long-term strategic planning is not possible. This, in his view, has affected where capital and talent flow within the crypto sector, reflecting a wider trend among digital asset firms.
Mini dictionary: CFTC (Commodity Futures Trading Commission) – The CFTC is a US government agency that regulates derivatives markets, including futures, options, and swaps. Its role is to promote integrity, resilience, and vibrancy in US derivatives markets through sound regulation.
Shifting regulatory tone in the United StatesGarlinghouse observed that the current administration and regulators, including both the CFTC and the SEC, have shifted their stance and introduced a new approach for the sector. He described the change as substantial, stating that there is a consensus among stakeholders that the previous situation failed consumers and stifled innovation.
According to Garlinghouse, clearer regulations are needed to defend both users and industry growth. Well-defined guidelines can protect users and ensure corporate accountability, enabling responsible development of new financial technologies.
Garlinghouse pointed to the technologies discussed at the CFTC event as proof that with regulatory certainty, cross-border payments can become faster, more efficient, and more widely accessible, but achieving this potential hinges on clear rules of the road.
Future outlook for XRP and the broader crypto industryGarlinghouse’s remarks came soon after his attendance at a White House summit focused on digital assets. For XRP holders and digital asset advocates, his statements signaled renewed confidence in the regulatory environment. Ripple is now adopting a more proactive stance, reflecting optimism that evolving US policy will support both industry innovation and compliance.
Garlinghouse’s comments suggest that Ripple, a technology company specializing in blockchain-based payment solutions, expects to leverage regulatory progress for further growth, both in the US and internationally. Stakeholders are watching for further clarity that would enable domestic investment and hiring while supporting user protection across markets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
EIP-8130 chce sjednotit standard účtů pro EVM a přinést konzistentní autentizaci, sponzorování gasu i call batching napříč kompatibilními řetězci. Base plánuje nasazení v rámci upgradu Cobalt v září 2026.
A new Ethereum Improvement Proposal wants to make account abstraction actually work the same way everywhere. EIP-8130, drafted by Chris Hunter of Coinbase/Base, introduces a universal account standard designed to bring consistent authentication, gas sponsorship, and call batching to every EVM-compatible chain, not just the ones that happened to implement their own flavor of smart accounts.
How it works At its core, EIP-8130 introduces a new transaction type, designated AA_TX_TYPE = 0x79, paired with an onchain Keystore contract deployed at a fixed address. Think of the Keystore as a universal settings panel for your account. It stores your authentication preferences onchain so that any compliant EVM chain can read them.
Instead of requiring nodes to simulate entire wallet bytecode to verify a transaction, EIP-8130 separates authentication from account logic entirely. Nodes validate transactions using a fixed set of canonical authenticators, enabling what the proposal describes as O(1) checks without full EVM tracing.
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The canonical authenticators baked into the proposal include secp256k1/k1 (Ethereum’s existing signature scheme), P-256 (used by Apple and Google secure enclaves), WebAuthn (the standard behind passkeys), and a delegate authenticator. That last one enables use cases where one account can authorize transactions on behalf of another.
Two profiles, one standard EIP-8130 defines two adoption profiles. Level 1 is designed for Ethereum mainnet and similarly structured chains. It uses a normative gas schedule and permissive acceptance, meaning it’s more flexible about which authenticators and account configurations it will process.
Level 2 is built for high-throughput chains like Base and other L2 rollups. It restricts validation to a canonical-only pathway, sacrificing some flexibility for predictable performance at scale.
The proposal also maintains backward compatibility through an ERC-4337 fallback mechanism. Chains that haven’t adopted EIP-8130 natively can still process these accounts through the existing ERC-4337 infrastructure, making the standard fully portable without requiring protocol-level changes on every chain.
The backers and the timeline Base, Coinbase, Optimism, and WalletConnect are all listed among its backers. The proposal claims a 63% reduction in transfer costs compared to the existing ERC-4337 model.
Base is targeting its Cobalt upgrade in September 2026 as the vehicle for deploying EIP-8130. That gives the proposal roughly a year from its October 2025 drafting date to move through discussion, iteration, and testing. The proposal currently sits in draft status, with active discussions happening on Ethereum Magicians and GitHub.
EIP-8130 builds on several prior EIPs, including EIP-2718 (typed transaction envelopes) and EIP-4337 itself.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SEC otevřela veřejné připomínky k návrhu Cboe BZX na zalistování šesti denních 3x pákových futures ETF na Bitcoin a Ethereum. Jde o návrh podpořený Volatility Shares, zatím bez schválení.
The SEC has opened a public comment period on Cboe BZX Exchange’s proposal to list six daily 3x leveraged Bitcoin and Ethereum futures ETFs.
The proposal, filed under SR-CboeBZX-2026-065, would cover commodity-pool products sponsored by Volatility Shares. The funds would seek three times the daily performance of front-month and next-month CME Bitcoin and Ethereum futures contracts, using daily reset mechanics.
That is a very different product from a spot ETF.
A 3x leveraged futures ETF is built for short-term tactical exposure. It is not a simple buy-and-hold wrapper for Bitcoin or Ethereum, and its daily reset structure can create performance drift over time.
The SEC’s move opens the proposal for public comments. It does not mean the products have been approved.
TL;DR The SEC opened comments on Cboe’s proposal for 3x leveraged BTC and ETH futures ETFs. The proposed products would be sponsored by Volatility Shares. The filing is under review and has not been approved. Why Leveraged Crypto ETFs Matter Leveraged ETFs are popular because they give traders amplified exposure without directly using margin or futures accounts.
In crypto, that can be especially attractive because Bitcoin and Ethereum already move sharply. A 3x daily product would magnify those moves, creating potential for larger gains and larger losses in a traditional brokerage format.
That is exactly why regulators pay attention.
Leveraged products can be misunderstood by retail investors. They are designed to track daily performance, not long-term cumulative returns. Over multiple sessions, compounding and volatility can cause results to diverge from what investors might expect.
That risk becomes more important when the underlying asset is already volatile.
Futures, Not Spot The proposal concerns futures-based products, not spot Bitcoin or spot Ethereum ETFs.
That distinction matters because the funds would use CME futures exposure rather than directly holding BTC or ETH. Futures-based exposure can behave differently from spot assets because of roll costs, margin, contract structure, and futures-market dynamics.
Investors may see “Bitcoin ETF” or “Ethereum ETF” and assume direct asset exposure.
That would be inaccurate.
These would be leveraged futures products tied to daily movements in futures contracts.
The Comment Period Is Only One Step A public comment period gives market participants, investors, issuers, competitors, and other stakeholders a chance to respond to the SEC.
Comments may address investor protection, market manipulation, disclosure, suitability, volatility, liquidity, and exchange-listing standards.
The SEC can approve, reject, delay, or request changes.
So the current development is procedural but important. It shows the proposal is formally in the review pipeline, but it does not indicate the regulator has accepted the structure.
Crypto ETF Market Keeps Expanding The proposal also shows how quickly the crypto ETF market is moving beyond plain spot products.
Bitcoin spot ETFs opened the door. Ethereum followed. Now issuers are testing leveraged, inverse, staked, altcoin, and multi-asset structures.
That expansion is natural in traditional ETF markets.
Once a base asset category becomes accepted, issuers compete by offering more specialized exposures. Crypto is now entering that phase, and regulators are being asked to decide how much complexity is appropriate.
What Traders Need To Understand If products like these eventually launch, they will not be suitable for every investor.
Daily 3x leveraged funds are typically tools for active traders. Holding them over longer periods can produce unexpected results because the fund resets exposure each day.
For Bitcoin and Ethereum, that risk may be magnified by extreme volatility.
The SEC’s review will likely center on whether disclosures, exchange rules, and product design are sufficient to protect investors.
For now, Cboe’s proposal is another sign that crypto ETF experimentation is accelerating. Approval, however, is still an open question.
This article is based on the SEC’s self-regulatory organization filing notice for Cboe BZX Exchange.
This article was written by the News Desk and edited by Samuel Rae.
SharpLink přidala do stakingu dalších 39 319 ETH za zhruba 91 milionů USD a její treasury tak vzrostla na téměř 889 000 ETH. Firma tím dál posiluje pozici druhého největšího institucionálního držitele Etheru po BitMine.
Like many companies, SharpLink Gaming transforms its treasury into a yield machine. Indeed, the Nasdaq-listed firm has just injected an additional 39,319 ETH into staking, approximately 91 million dollars. This new investment thus strengthens its position as the second largest institutional holder of Ether after BitMine. Like a volatile market, the company executives have decided to make their reserves work directly on Ethereum. This maneuver explains the transformation of crypto treasuries, currently developed as productive assets likely to generate on-chain income, rather than as reserves intended to sit idle on a balance sheet.
In brief Sharplink Gaming immobilizes an additional 39,319 ETH (91 million dollars) in staking, bringing its total treasury to nearly 889,000 ETH. Under the leadership of Joseph Lubin and Joseph Chalom, the firm allocates its tokens between native Ether and liquid staking tokens (LsETH and weETH) to maximize its on-chain revenue. Staking generates 11.2 million dollars in Q2 2026, offsetting a net quarterly loss of 394.3 million linked to Ether price decline. Management stays the course by directing every financing decision toward continuously increasing the number of ETH per share. Sharplink consolidates its Ether treasure through staking The allocation of 39,319 ETH, detected on August 21, 2026 by the on-chain analytics platform Lookonchain, fits into a methodical programming implemented by the management of SharpLink for over a year. This new allocation of 91 million dollars supplements an already significant company balance sheet, which was about 888,938 ETH on August 3, compared to 886,725 ETH at the end of June.
Thanks to its strategic pivot made in mid-2025, abandoning sports betting marketing under the impetus of its president Joseph Lubin, one of the Ethereum co-founders and head of Consensys, the company places staking at the center of its financial activity.
Such a meticulous distribution respects an accounting orthodoxy in which capital inactivity is viewed as an exceptional opportunity cost. Opposite to passive treasury models, SharpLink chose to place almost all of its cryptos in network validation mechanisms while maintaining a concise arbitrage between liquidity and yield.
The financial indicators for the second quarter of this year reveal this balance sheet engineering, organized around three complementary pillars :
632,719 ETH held directly in the form of native Ether, ensuring direct control over the main reserves ; 181,299 ETH mobilized through the liquid staking token of ETH to maintain operational flexibility ; 72,707 ETH committed on the weETH protocol, complemented by a 100 million dollar contribution of staked ETH aimed at kick-starting the 125 million dollar Galaxy Sharplink Onchain Yield Fund. SharpLink tested by the market: between yield and volatility The direct impact of this development is reflected in the company’s earnings composition. SharpLink’s staking activity generated 11.2 million dollars during the second quarter of this year. This amount represents almost the entire general quarterly turnover of the company.
Although this result falls slightly below Wall Street professionals’ estimate, who expected 12.3 million dollars, the trend is clear compared to the 25.6 million dollars of staking revenues earned in all of 2025. However, price corrections negatively impact this protocol.
During the same quarterly period, Sharplink suffered a colossal loss of 394.3 million dollars. Such a critical result includes 321 million dollars of unrealized losses on crypto holdings as well as 76.1 million dollars of impairments related to liquid staking positions.
Despite these original dimension balance sheet variations, management’s guidance is directed towards a single fundamental indicator. Co-CEO Joseph Chalom, recruited from BlackRock’s crypto team, emphasized during the financial update presentation in June the company’s vision: “all our financing decisions are based on a long-term goal: to increase the number of ETH per share”. Quarterly accounting turbulences matter little compared to the accumulation of Ether per share for SharpLink’s management.
Institutionalization of staked reserves: toward a new standard for Wall Street This initiative carried out by SharpLink fits into a global trend where corporate treasuries no longer want just a store of value, but rather a proper yield. Referring to observations published by specialist Everstake, staking operations now generate on average 60% of the revenues of companies that have chosen a treasury based on Ether, although the peer group accumulates more than 1.4 billion dollars of collective accounting losses considering market volatility.
Furthermore, it should be noted that the interest of major investors in this approach is increasing. The proportion of institutional investors in SBET’s capital now reaches 60%. This share is supported by the filing of a Schedule 13G form with the SEC, attesting to a new large passive stake acquisition.
This constant opposition between the creation of native cash flows and stock price fluctuations consecrates a new paradigm in corporate finance. While the methodical accumulation policy led by Joseph Lubin and Joseph Chalom exposes the stock to significant accounting difficulties, it provides in return a unique capital self-generation capacity through on-chain yields.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
BitMine Chairman Tom Lee has identified BMNR as the US-listed stock most closely tied to Ethereum, citing an 80% correlation while predicting that ETH will outperform Bitcoin during the current cycle.
Summary
BitMine showed an 80% correlation with ETH in Fundstrat’s comparison of 17 large-cap stocks. Lee expects tokenization and AI applications to support Ethereum’s performance against Bitcoin. BitMine held 5.82 million ETH, or 4.8% of the token’s supply, as of Aug. 16. US spot Ethereum ETFs attracted $365 million in July, compared with $205 million for Bitcoin funds. Fundstrat said in a Friday post on X that its study covered 17 companies with market values above $2 billion, giving stock investors a list of publicly traded businesses that have moved closely with Bitcoin or Ethereum.
For equity investors seeking exposure to crypto, particularly the sizable moves made by @ethereum and Bitcoin
The 17 large cap (>$2b) stocks with correlation to crypto shown below:
– $BMNR highest correlation to $ETH (80%)
– next closest is $COIN (74%)
– $MSTR highest… pic.twitter.com/p7CM92Uk6m
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) August 21, 2026 BitMine Immersion Technologies led the Ethereum group with a correlation of 80%, while Coinbase ranked second at 74%. Among stocks linked to Bitcoin, Strategy recorded the highest reading at 78%, followed by Coinbase at 74%.
Lee said he expects Ethereum to beat Bitcoin during the present cycle because tokenization and AI applications could create demand for Ethereum’s network. In his view, the two uses matter more than the themes that supported ETH during earlier market cycles.
The post did not disclose the period used to calculate the correlations or explain whether Fundstrat measured daily, weekly, or monthly returns. Correlations also change as prices and market conditions change, meaning the figures describe the relationship found in Fundstrat’s dataset rather than a fixed link between each stock and the corresponding cryptocurrency.
BitMine stock gives investors an indirect route to Ethereum BitMine’s position at the top of the list follows its decision to build the world’s largest corporate Ethereum treasury. As of Aug. 16, the company held 5,815,164 ETH, 210 Bitcoin, $78 million in cash and marketable securities, and investments in Beast Industries and Eightco Holdings.
Using an ETH price of $1,893, BitMine valued its combined crypto, cash, securities and other investments at $11.4 billion. The company said its Ethereum position represented 4.8% of the token’s stated 120.7 million supply, placing it 96% of the way toward its target of owning 5%.
During the week ending Aug. 16, BitMine purchased another 9,926 ETH. The company has bought Ether every week since adopting its Ethereum treasury strategy on June 30, 2025, according to its latest update.
An Aug. 10 treasury update previously covered by crypto.news showed BitMine holding approximately 5.81 million ETH after another 7,391-token purchase. At that time, the company had also repurchased three million BMNR shares under a $4 billion authorization.
BitMine added another 1.7 million shares to its repurchases during the following week, taking the total since July to more than 20.8 million. Lee said management considered the common shares undervalued, although that assessment represents the company’s view rather than an independent valuation.
BMNR closed at about $22.72 on Aug. 21, gaining roughly 5.3% during the session. Coinbase rose around 7.5%, while Strategy added about 5.9%, as Bitcoin and several large altcoins advanced during the same trading period.
Ethereum staking has become central to BitMine’s model Of BitMine’s 5.82 million ETH, 5,067,309 tokens were staked as of Aug. 16. The amount represented about 87% of the company’s Ethereum holdings and was valued at $9.6 billion using the price cited in its announcement.
Based on a seven-day annualized yield of 2.61%, BitMine projected around $250 million in annual staking revenue from the position. The company said potential annual rewards could reach $287 million after its remaining ETH is staked through its MAVAN platform and external partners.
Staking gives BitMine a source of revenue that Strategy cannot generate from its Bitcoin holdings because Bitcoin does not use a proof-of-stake system. BitMine’s estimates, however, depend on Ethereum’s staking yield, ETH’s market price, validator performance and the amount of company-owned Ether placed into staking.
The company also joined the Russell 1000 large-cap index on June 26, giving US fund managers and benchmark-tracking products another route to obtain indirect Ethereum exposure. BMNR trades on the New York Stock Exchange, while its 9.5% Series A perpetual preferred stock trades under the ticker BMNP.
Compared with a spot Ethereum ETF, BMNR carries risks tied to its operating costs, capital decisions, share issuance, staking activity, and other investments. Its market value can also trade above or below the value of the ETH and other assets held on its balance sheet.
Tokenization supports Lee’s Ethereum thesis Lee has described tokenization as one of the main reasons Ethereum could gain against Bitcoin. In BitMine’s Aug. 17 update, he said the ETH/BTC ratio had risen to 0.02994 and moved above a long-running downward trend.
Earlier ETH/BTC analysis showed the ratio testing resistance near 0.0286 in July after recovering from an early June low around 0.026. The ratio measures how much Bitcoin one Ether can buy, so a rising reading indicates that ETH is gaining value against BTC.
According to Lee, Ethereum’s relative gains during earlier cycles were supported by initial coin offerings in 2017 and 2018, NFTs in 2020 and 2021, and stablecoin adoption in 2025. He expects Wall Street tokenization and blockchain-based AI agents to support the next period of ETH outperformance.
RWA.xyz data offered additional context for the tokenization argument. As of Aug. 21, the analytics platform tracked 2,267 real-world assets on Ethereum and $13.99 billion in RWA transfer volume over 30 days, an increase of 20.45%.
The same database placed the stablecoin market value on Ethereum at $157.11 billion, with 26.6 million holders and $1.55 trillion in 30-day transfer volume. Tokenized-asset platforms listed on the network included Ondo, Securitize, Circle, Tether, and Sky.
Wall Street involvement has also extended beyond companies holding ETH. BlackRock, JPMorgan, and several asset managers have developed or tested tokenized funds, collateral products, and settlement services that use Ethereum or networks compatible with its software.
US Ethereum ETFs show signs of institutional demand US-listed exchange-traded funds have provided another measure of demand from investors who prefer regulated brokerage products. Spot Ethereum ETFs attracted $365 million in net inflows during July, while spot Bitcoin ETFs received $205 million.
The July result was Ethereum funds’ strongest month on record and the first time their monthly inflows exceeded Bitcoin ETF inflows by more than two to one, according to a recent ETF flow review. On July 23, Ethereum products received $72.64 million, compared with $68.99 million for Bitcoin funds.
Ethereum ETFs added another $53.75 million on Aug. 4, followed by $202 million over the next three trading days. During July, the ETH/BTC ratio rose by about 11%, moving from roughly 0.027 to 0.030.
AI applications form the second part of Lee’s forecast. Ethereum.org says blockchain-based agents can control wallets, execute transactions, interact with smart contracts and use stablecoins to pay for computing resources, data and application access.
Ethereum.org also describes the technology as experimental and warns users to exercise caution. Agent activity does not guarantee demand for ETH because applications can use other blockchains, layer-2 networks, or off-chain payment systems.
Lee has pointed to Robinhood Chain as one example of financial and blockchain services coming together. The Ethereum layer-2 network uses ETH for transaction fees and sends its final transaction records to Ethereum, while Robinhood reported 27.4 million funded customers at the end of the first quarter.
Within weeks of its July launch, the network had recorded almost $9 billion in cumulative decentralized-exchange volume, $431 million in locked assets and more than 250,000 daily active users, according to Robinhood Chain data. More than 80% of its early exchange volume came from memecoins, while temporary fee waivers reduced trading costs during the network’s first 90 days.
Bitcoin.com Wallet nově nativně podporuje TRON, takže uživatelé mohou přímo v aplikaci držet, posílat, swapovat i kupovat TRX a USDT na TRON. Integrace je dostupná na iOS, Androidu a webu.
Dubai, United Arab Emirates, August 21st, 2026, FinanceWire
Bitcoin.com, one of the world’s most widely used cryptocurrency platforms, today announced that its self-custody Bitcoin.com Wallet app now natively supports the TRON network. Users can hold, send, swap, and buy TRX and USDT on TRON directly within the mobile application.
TRON has established itself as one of the most widely used networks for USDT settlement, with USDT-TRC20 accepted for deposits and withdrawals across a broad range of major exchanges and payment services. That breadth of acceptance has made it a common choice for exchange-to-exchange transfers and for dollar-denominated payments in emerging markets, supporting the reliable movement of stablecoins at scale. By integrating TRON natively, Bitcoin.com Wallet users can transact with counterparties who ask for a TRC20 address without leaving the wallet or installing anything new.
“Our users do not think in terms of chains. They think about who they need to pay and what that person asked them for. A very large number of those requests say USDT on TRON, and until now we could not answer them. That is the gap this closes,” said Bitcoin.com CEO Corbin Fraser.
With this launch, Bitcoin.com Wallet users can:
Hold TRX and USDT-TRC20 alongside their existing portfolio. Send and receive TRX and TRC20 tokens to any TRON address. Swap between TRX, supported TRC20 tokens, and other supported assets in-app. Buy TRX and USDT-TRC20 directly with a card or bank transfer. “With more than $90 billion in USDT circulating on TRON and $23 billion in daily transfer volume, TRON is already a leading network for stablecoin payments,” said Justin Sun, Founder of TRON. “Users want to hold and spend stablecoins on TRON directly from the wallets they use every day. Bitcoin.com Wallet’s integration meets that demand, bringing TRON’s settlement infrastructure into a familiar wallet and making stablecoin payments faster, simpler, and more accessible.”
Bitcoin.com Wallet users can now access TRX and USDT-TRC20 natively, without bridging assets, managing a separate wallet, or leaving the mobile application. TRON’s functionality is now built into a wallet people already use for their everyday crypto activity. The TRON integration is available now on iOS, Android, and web.
About Bitcoin.com
Bitcoin.com is on a mission to increase the freedom and prosperity of people everywhere by providing easy access to Bitcoin, Bitcoin Cash, and other leading cryptocurrencies. Bitcoin.com Wallet is a non-custodial, multi-chain wallet used by millions of people worldwide to hold, send, swap, and buy digital assets.
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. Until recently, TRON hosted the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $91 billion. As of August 2026, the TRON blockchain has recorded over 399 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.”
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Stellar nyní drží nejvíc tokenizovaného neamerického státního dluhu ze všech blockchainů, zhruba 490 milionů USD. V této kategorii je před Ethereum od začátku února.
The Stellar network now holds more tokenized non-US government debt than any other blockchain, a lead it has held since February. Here's what's behind the number, and why the fastest-growing corner of the RWA market keeps landing on the same network.
A quick map of what follows:
Exactly which race Stellar leads, and where Ethereum is still ahead.The growth curve behind the number, from roughly $500 million in early 2025 to more than $3 billion in June 2026.The issuers doing the work, from Mexican CETES and Brazilian Tesouro bonds to euro-denominated T-bills.Why sovereign issuers keep choosing the same network, and where the category goes next.The lane, and the leadA data point made the rounds this week: Stellar has overtaken Ethereum in tokenized non-US government debt, with roughly $490 million in sovereign instruments onchain, according to RWA.xyz data as of August 20, 2026. Stellar first passed Ethereum in this category in early February and has held the top spot on the leaderboard every day since.
Let's be precise about the claim, because precision is the point. Ethereum still leads in tokenized US Treasuries and in total RWA value, and the whole market is growing across every chain. What Stellar leads is a specific race: sovereign debt issued outside the US, in currencies other than the dollar. We think that race matters more than its current size suggests. Most of the world's governments and businesses don't operate in dollars. The networks that serve them will define where tokenization goes next.
The trajectoryThe category lead is one milestone on a steeper curve. Real-world assets on Stellar, excluding stablecoins, grew from roughly $500 million in early 2025 to $854.6 million by the end of Q4 2025, crossed $1 billion in January 2026, closed Q1 at $1.52 billion (up 91% in a single quarter), passed $2 billion in April, and topped $3 billion in June. That's roughly a threefold increase year over year, one of the fastest RWA growth trajectories of any chain this cycle.
Zoom out and Stellar now represents about 9% of all distributed RWA value across every blockchain, per RWA.xyz, placing it among the top four networks alongside Ethereum, BNB Chain, and Solana. Notably, it's the only network in that group outside the EVM ecosystem.
What's inside the numberThe non-US sovereign debt lead is built from real products serving real markets. Etherfuse Stablebonds bring Mexican CETES and Brazilian Tesouro bonds onchain. Spiko's euro-denominated T-bill fund grew from roughly $520 million to $970 million over the past year, with most of that growth landing on Stellar. South Korean Treasury Bonds and the Marshall Islands' digital sovereign bond round out a roster that spans five continents.
The surrounding ecosystem reinforces it. Franklin Templeton's BENJI, the first US-registered mutual fund to use a public blockchain as its system of record, runs on Stellar. Ondo's USDY and WisdomTree's WTGXX are live on the network. USDC market cap on Stellar grew about 15% quarter over quarter to more than $256 million in Q1 2026, and euro-denominated stablecoins arrived in force: Société Générale-FORGE's EURCV and AllUnity's EURAU both launched on mainnet, with EUR stablecoin volume up 12x year over year.
And the assets are moving, which is the part that matters. Stablecoin payment volume on Stellar hit $5.5 billion in Q1 2026, up 72% year over year, with transaction velocity up 75%. Tokenized value that sits still is a spreadsheet exercise. On Stellar, it circulates.
Why issuers keep choosing StellarAsk the issuers and a consistent picture emerges. First, Stellar was purpose-built for cross-border, multi-currency settlement: fees are fractions of a cent, finality arrives in about five seconds, and the architecture assumes value will cross borders and currencies rather than treating that as an edge case. For a sovereign issuer optimizing for its own currency corridors rather than dollar-denominated Treasuries, that design is the product.
Second, compliance is native. Asset-level controls, the anchor network, and KYC-friendly primitives are built into the protocol, which means a regulated issuer spends its budget on its product rather than on custom compliance tooling. Third, dollar liquidity is frictionless: USDC is live natively on Stellar with Circle's Cross-Chain Transfer Protocol, so tokenized sovereign debt settles against regulated digital dollars without wrapped-token workarounds.
Institutions have noticed, and around the world the roster keeps deepening: U.S. Bank, Amundi, Société Générale, AllUnity, Kenanga in Malaysia, and SDF's work with Marketnode in Singapore, backed by SGX and Temasek. That geographic spread is hard to replicate and increasingly the moat.
Where this goes nextThree things that make us excited that the curve will continue. RWAs on Stellar are becoming productive collateral: Templar's April launch enabled lending and borrowing against tokenized assets, including Centrifuge's deJAAA and deJTRSY and Etherfuse's CETES and USTRY. Agentic commerce is emerging as a new demand vector, with the x402 protocol positioning Stellar as a settlement rail for machine-to-machine payments. And regulatory clarity outside the US keeps opening new markets, from further EU issuance following EURAU and EURCV to institutional expansion across APAC.
To the teams making this real, Etherfuse, Spiko, Circle, Franklin Templeton, WisdomTree, and every issuer bringing sovereign instruments to Stellar: this milestone is yours. The scoreboard just caught up to the work.
Explore real-world assets on Stellar at stellar.org, or dig into the data yourself at RWA.xyz.
Price and On-Chain Activity Pick Up SteamStellar's native token $XLM is trading near $0.19, up roughly 20% over the past seven days. Daily trading volume has jumped 47% to $389 million, pushing the network's market capitalisation to approximately $6.64 billion.
The price move comes as broader technical momentum builds around the token. Stellar's blockchain performance recently reached 3,351 transactions per second, marking a roughly 65% increase in its theoretical capacity, reinforcing the network's scalability narrative.
Real-World Assets and Stablecoin Volume Drive the Fundamental CaseBeyond the price action, the more durable story may be what is happening on the institutional side. Real-world assets on @StellarOrg now stand at $3.28 billion, up 7.7% over the past 30 days per rwa.xyz. Stablecoin transfer volume over the same 30-day window climbed 35% to $7.89 billion.
Much of the acceleration traces back to Protocol 26, nicknamed "Yardstick," which went live on Stellar's mainnet on May 6, 2026. The upgrade added a governed on-chain freeze mechanism for compliance and improved 256-bit arithmetic, giving the network the precision needed to settle institutional-grade financial instruments accurately.
The combination of rising on-chain activity, growing institutional RWA adoption, and improving throughput metrics appears to be giving traders a concrete reason to re-rate the asset beyond short-term speculation.
Sources
DefiLlama: Stellar DeFi TVL and Chain Metrics
RWA.xyz: Stellar Real-World Asset Data
CoinMarketCap: Stellar XLM Latest Updates
Stellar se stal vedoucí veřejnou blockchainovou sítí pro tokenizovaný neamerický státní dluh s aktivy v hodnotě asi 490 milionů USD. Od února v tomto segmentu předstihl konkurenci.
Stellar has emerged as the leading public blockchain network for tokenizing non-US government debt, currently hosting approximately $490 million in such assets, according to the latest on-chain data. Since February, the Stellar network has outpaced competitors in this sector, signaling a significant shift for real-world asset (RWA) tokenization beyond the traditional US government debt and US dollar stablecoins.
Surge in tokenized global debtInstitutional custodians and fund management platforms have increasingly used Stellar to issue and store debt securities denominated in euros, pounds, and a range of other local currencies. This trend underscores a growing global move toward blockchain-based finance, as most governments and businesses outside the US do not operate primarily in dollars but are nonetheless issuing debt onchain.
Since February, Stellar has led the market, holding roughly $490 million in tokenized non-US government debt and surpassing any other public blockchain in this specific area.
The growth rate for tokenized non-US government debt on Stellar has remained robust, with new issuances significantly exceeding those of competing Layer-1 blockchains specializing in similar financial instruments.
Benefits for issuers, asset managers, and developersBringing sovereign debt onto the blockchain removes US-foreign correspondence hurdles, provides 24/7 settlement opportunities, and leverages programmable, compliant infrastructure. Asset managers can access instant atomic settlement in stablecoins, while issuers benefit from reduced costs to bring new instruments to market.
Exchanges and custodians are expanding services to accommodate funds originating from Europe, Latin America, and Asia. For developers, Stellar’s combination of low transaction fees and built-in compliance features has made it a preferred option for companies seeking to offer regulated financial products.
Mini dictionary: Real-world asset (RWA) tokenization refers to the process of issuing digital tokens that represent ownership of tangible or financial assets, such as government debt, directly on a blockchain. This enables transparent, efficient, and programmable asset management across borders.
Global regulatory shift and future challengesEfforts to diversify reserve and settlement systems away from dollar dominance are driving further adoption of blockchain-based solutions. Recent regulatory progress in the EU and UK regarding distributed ledger technology (DLT) securities is expected to encourage greater issuance of tokenized financial instruments.
While Ethereum and Polygon are courting RWA issuers, Stellar’s early momentum has helped it retain a leadership position in this emerging sector. The network’s ongoing development focuses on key priorities, including the verification of reserves, expanding liquidity on secondary markets, and establishing cross-chain interoperability standards to support broader enterprise adoption.
Important steps for the sector include reserve verification, improving secondary market liquidity, and developing robust cross-chain standards, which are considered vital for the future growth of tokenized government debt.
Blockchain NetworkTokenized Non-US Government Debt (USD)Key FeaturesStellar$490 millionLow fees, strong compliance, leading in growthEthereumLower than StellarBroad smart contract adoption, competing in RWAPolygonLower than StellarScalability focus, pursuing RWA marketDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
FASB navrhl, aby některé stablecoiny, včetně USDC, mohly být v rozvahách firem vedeny jako peněžní ekvivalenty. Opatření zatím není účinné a připomínky lze posílat do 19. listopadu.
The U.S. Financial Accounting Standards Board (FASB) introduced a new proposal that could allow certain stablecoins, such as USDC, to be classified as cash equivalents on company balance sheets. Circle co-founder Jeremy Allaire described the move as “an enormous strategic unlock” for the stablecoin sector.
Potential impact on stablecoins and corporate accountingFASB’s proposal was released on August 18 and targets updates in Topic 230, the section governing cash flow statements. Rather than creating a new definition for cash equivalents, FASB focused on clarifying the existing framework, mandating enhanced annual disclosures about the primary components of companies’ cash equivalents, including any digital assets.
Allaire, whose firm issues USDC, assessed the proposal as “a nine out of 10” and linked its significance to recent regulatory developments, most notably the pending GENIUS Act. He indicated that the combination of supportive accounting standards and favorable legislation could open the door for broader usage of USDC within the financial system.
Allaire highlighted the shift in how stablecoins are recorded on company balance sheets, noting that classifying tokens as cash equivalents, rather than intangible assets, makes them far more attractive to treasury departments and lenders assessing repayment capabilities.
If stablecoins are treated as cash equivalents, companies can avoid balance-sheet penalties typically associated with intangible assets—a factor that could significantly influence their adoption among corporate treasurers. FASB opened the comment period for its proposal until November 19, after which a final standard and effective date will be determined. For the moment, no changes have officially taken effect.
Criteria for stablecoin qualificationFASB outlined several requirements for a stablecoin to be recognized as a cash equivalent. First, holders must have a contractual right to redeem the token on demand. Second, the redemption must occur directly with the issuer for a fixed cash amount. Third, the issuer needs to hold segregated reserves in short-term, highly liquid assets equal to at least one dollar per token in circulation.
The board emphasized that liquidity from trading on secondary markets does not meet these standards because prices might deviate from their promised value during periods of market stress. FASB also excluded stablecoins backed by volatile assets, such as other cryptocurrencies or gold, from qualifying as cash equivalents. This approach leaves out certain algorithmic and overcollateralized tokens, despite being labeled as stablecoins.
Although these criteria are clear, meeting them is optional, not mandatory, for qualifying companies. Each issuer and corporation must carefully assess whether their tokens satisfy all requirements before accounting changes are made.
Early adopters and skeptical viewpointsCoinbase has already adjusted its accounting practices. As of December 31, 2025, the company reported USDC, EURC, and PYUSD as being fully backed by segregated cash-equivalent reserves, with redemption available at a one-to-one ratio. Coinbase reported no changes to previously stated financial metrics after the retrospective update.
However, not everyone supports FASB’s draft. Jack Castonguay, an accounting professor at Hofstra University, welcomed the limited scope but remains unconvinced by the prospect of stablecoins being classified under cash. He described the proposal as not having gone “too far,” but still sees the new categorization as overly permissive.
FASB stated that only stablecoins directly redeemable with the issuer against explicit cash reserves will qualify, a move designed to protect financial stability and limit risk.
With the November 19 deadline for public comments approaching, industry participants, auditors, and corporate treasurers are closely monitoring developments. Decisions after this period may determine the scale and pace at which stablecoins become integrated into mainstream finance.
Given the rapid shifts in the digital asset sector, from central bank decisions to new token listings, traders face growing complexity managing charts, positions, and news across multiple platforms. Many are turning to privacy-focused solutions such as CryptoAppsy, which provides unified access to real-time charts, price alerts, dedicated coin news, and macroeconomic indicators—all without requiring an account. This approach helps investors respond faster in an increasingly unpredictable market environment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Rippleův RLUSD dosahuje tržní kapitalizace 2,035 miliardy USD a na XRP Ledger se jeho nabídka blíží 1 miliardě USD. Na PayPal USD (PYUSD) ztrácí méně než 1 miliardu USD.
Ripple’s U.S. dollar-pegged stablecoin, RLUSD, has reached a market capitalization of $2.035 billion, according to recent CoinGecko data. The milestone comes just months after the stablecoin’s launch in December 2024, making RLUSD one of the fastest-rising regulated assets in its category.
Rapid supply growth and XRP Ledger momentumThe current RLUSD supply is approaching $1 billion on the XRP Ledger, indicating rising adoption on Ripple’s native blockchain network. Over the last day, several major minting events were recorded from the RLUSD Treasury, including issuances of 40 million, 25 million, 20 million, 19 million, 14 million, and 12 million RLUSD. This surge in minting activity has injected new liquidity into the ecosystem.
RLUSD’s presence on the XRP Ledger is growing rapidly, with recent issuances adding substantial liquidity to support users and applications within Ripple’s ecosystem.
Much of RLUSD’s recent expansion has taken place on the XRP Ledger, though Ethereum initially served as the primary network following its debut. The shift highlights an increased deployment of RLUSD on Ripple’s proprietary infrastructure.
Mini dictionary: XRP Ledger, Ripple’s open-source blockchain protocol designed for fast and efficient payments globally. It enables the issuance, transfer, and exchange of digital assets directly on-chain.
Top contenders in the stablecoin raceRLUSD’s rapid growth has launched it into the ranks of leading dollar-backed stablecoins, now placing it just behind prominent tokens such as Tether’s USDT, Circle’s USDC, Maker’s USDS, Dai, Ethena’s USDe, and PayPal USD (PYUSD).
Presently, PayPal’s PYUSD stands at a capitalization of around $2.87 billion, holding less than a $1 billion advantage over RLUSD. The narrowing gap suggests RLUSD could soon challenge PYUSD’s position among regulated stablecoins if its current pace continues.
StablecoinMarket Cap (USD)Tether (USDT)$183 billionCircle (USDC)$73 billionMaker (USDS)$9.7 billionDai$4.5 billionEthena (USDe)$4 billionPayPal USD (PYUSD)$2.87 billionRipple RLUSD$2.035 billionTether’s USDT continues to lead the stablecoin sector with a market capitalization of $183 billion, followed by Circle’s USDC at $73 billion. Other notable competitors include USDS, Dai, and Ethena’s USDe, each maintaining multi-billion dollar market caps.
The gap between RLUSD and PYUSD is now less than $1 billion, positioning RLUSD as a serious contender among regulated stablecoins.
Ripple, known for its enterprise blockchain solutions and cross-border payment systems, has stated that RLUSD’s regulated status and growing circulation underpin its ongoing momentum.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
BTCS ve 2. čtvrtletí splatila Aave dluh za 8,2 milionu USD a snížila tak DeFi páku. Na konci kvartálu měla jen 317 113 USD v hotovosti a stablecoinech, ale stále 36,0 milionu USD v úvěrech vůči DeFi protokolům.
BTCS Inc. reduced its DeFi leverage in the second quarter, repaying $8.2 million in debt to the Aave protocol as the company shifted its balance sheet away from more aggressive borrowing.
In its Q2 2026 Form 10-Q filing, BTCS reported ending the quarter with $317,113 in cash and stablecoins. The company also reported $36.0 million in outstanding loans payable to DeFi protocols, showing that its digital-asset balance sheet remained heavily tied to crypto, staking, and DeFi activity.
The numbers are striking, but they need careful framing.
This is not proof that BTCS is insolvent. It is not evidence of an Aave failure. It is a corporate treasury and risk-management story involving Ethereum, DeFi borrowing, and balance-sheet leverage.
TL;DR BTCS repaid $8.2 million in debt to Aave during Q2 2026. The company ended the quarter with $317,113 in cash and stablecoins. BTCS still reported $36.0 million in outstanding loans payable to DeFi protocols. Corporate Treasuries Are Getting More Complex Public companies involved in crypto no longer just hold Bitcoin or Ethereum on the balance sheet.
Some stake assets. Some borrow against assets. Some use DeFi protocols. Some run validator infrastructure. Some hold a mix of tokens, cash, stablecoins, loans, and operating assets.
BTCS fits into that more complex category.
Its filing shows a company using crypto-native financial infrastructure while still reporting through traditional public-company disclosures. That combination gives investors a rare view into how DeFi leverage can appear inside a listed company’s financial statements.
The result is more transparent, but also more complicated.
Why The Aave Repayment Matters Aave is one of the largest DeFi lending protocols.
Repaying $8.2 million in Aave debt suggests BTCS was actively reducing leverage rather than simply carrying the same borrowing profile forward. That can be read as a risk-management move, especially during a period when Ethereum and DeFi markets remain volatile.
Reducing debt can lower liquidation risk and simplify the balance sheet.
But it also shows how closely some crypto companies are tied to on-chain lending conditions. When a company borrows through DeFi, its financial position can depend on collateral values, interest rates, liquidity, and liquidation thresholds.
That is very different from a plain cash-and-equity treasury.
The Cash Figure Needs Context The $317,113 cash and stablecoin figure may look low at first glance.
But it should be read alongside the rest of the balance sheet, including digital assets, staking exposure, and outstanding DeFi loans. Crypto-native companies may hold value in assets that do not resemble traditional cash reserves.
That does not remove risk.
Low cash balances can limit flexibility, especially if operating expenses rise or market liquidity weakens. But it also does not automatically mean a company is insolvent.
The cleaner read is that BTCS was managing a balance sheet where most value remained tied to digital assets and DeFi positions.
DeFi Leverage Is Now A Public-Market Issue This is the broader point.
DeFi borrowing used to be mostly a wallet-level or protocol-level story. Now it can appear inside public-company filings. That means traditional investors need to understand terms like collateral, liquidation, protocol debt, staking, and on-chain credit exposure.
As more companies use Ethereum and DeFi infrastructure, these disclosures will matter more.
Investors will not only ask how many coins a company holds. They will ask whether those assets are borrowed against, staked, locked, lent, or exposed to smart-contract risk.
BTCS offers an early example of that shift.
What Comes Next The next filings will show whether BTCS continues reducing leverage or rebuilds DeFi exposure as market conditions improve.
If the company keeps lowering debt, investors may view the strategy as more conservative. If it increases borrowing again, the balance sheet may become more sensitive to Ethereum price swings and protocol conditions.
Either way, BTCS highlights an important trend.
Corporate crypto strategies are no longer simple reserve stories. Some companies are operating inside DeFi as active balance-sheet participants.
That creates opportunity, but it also creates risk that investors need to understand.
This article is based on BTCS Inc.’s Q2 2026 Form 10-Q filing and related company financial disclosures.
This article was written by the News Desk and edited by Samuel Rae.
Vklady USDT na Aave V3 za 90 dní vzrostly o 525,7 mil. USD, protože poptávka po DeFi úvěrech znovu sílí. Aktivní úvěry dosáhly 2,5 mld. USD a Aave drží asi 63 % veškerého USDT v DeFi půjčování.
More than half a billion dollars in fresh USDT found its way into Aave V3 over the past three months, a sign that stablecoin demand in decentralized lending is running hot again. The $525.7 million inflow pushed USDT deposits on Aave V3’s Core market from $1.93 billion to approximately $3.03 billion between May and late July, representing a $1.1 billion total increase when accounting for the full deposit trajectory.
Borrowers absorbed the vast majority of the new supply, with $717 million of the inflows matched to active loans.
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The numbers behind the surge Active USDT loans on Aave V3 reached $2.5 billion in July, climbing $400 million in a single month. At one point, total inflows exceeded $600 million in just 11 days, a pace that forced the protocol’s governance to react in real time.
Aave’s community passed multiple proposals to raise USDT supply caps throughout 2026. One notable June governance vote pushed the ceiling to $3.48 billion after utilization rates repeatedly hit the 90% to 97% range.
Supply-side APY for USDT on Aave V3 hovered around 3.15% with roughly 90% utilization by late August. As of August 2026, Aave V3 accounted for approximately 63% of all USDT deployed across DeFi lending protocols.
What this means for the lending landscape The governance dynamics are worth watching closely. Supply cap increases sound routine, but each one represents a calculated risk decision. Higher caps mean more potential exposure if something goes wrong with USDT itself, whether that’s a depeg event, a regulatory action against Tether, or a liquidity crisis. The community’s willingness to keep raising those caps reflects a collective bet that USDT’s stability is now a settled question rather than an open one.
There’s also a concentration risk that cuts both ways. If Aave V3 holds 63% of DeFi’s USDT lending activity and something disrupts the protocol, whether through a smart contract vulnerability, a governance attack, or a regulatory clampdown, the ripple effects would be felt across the entire stablecoin ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle’s euro-pegged stablecoin EURC has quietly amassed $76.6 million in deposits spread across 20 DeFi protocols. That’s not a massive number by USDC standards, but for a euro stablecoin operating in a market historically dominated by dollar-denominated assets, it represents a meaningful foothold.
The lion’s share of those deposits, roughly 70.9%, sits in Aave V3. That concentration tells you something about where the euro-denominated DeFi action is actually happening, and which protocol has managed to build the infrastructure that euro stablecoin users trust.
Aave V3’s outsized role Aave V3 holds approximately $42.5 million to $42.7 million in EURC supply based on visible protocol snapshots. That means a single lending protocol accounts for more than two-thirds of all EURC deployed in DeFi.
The remaining 29% of EURC deposits are distributed across 19 other venues, including liquidity provision and foreign exchange trading pairs across multiple protocols.
The bigger EURC picture The total circulating supply of EURC stands at approximately €410.6 million as of August 17, 2026. That means the $76.6 million sitting in DeFi protocols represents roughly 18-19% of the overall EURC supply depending on exchange rates.
Circle has positioned EURC as a fully reserved, 1:1 euro-pegged stablecoin with cash-equivalent redemptions. EURC currently lives across multiple blockchain networks: Ethereum, Base, Avalanche, Solana, and Stellar.
MiCA and the regulatory tailwind Europe’s Markets in Crypto-Assets regulation, commonly known as MiCA, has created a framework that specifically addresses stablecoin issuance in the EU. MiCA’s requirements around reserves, transparency, and licensing have raised the barrier to entry for anyone wanting to issue a euro stablecoin.
For the broader DeFi market, dollar stablecoins like USDC and USDT still dominate global DeFi activity by an enormous margin. But within the European market specifically, compliant euro stablecoins are carving out territory for users and businesses that need to denominate transactions in euros for tax, accounting, or operational reasons.
What this means for DeFi’s euro market When 71% of a stablecoin’s DeFi deposits sit in one protocol, any disruption to that protocol, whether technical, regulatory, or governance-related, would ripple through the entire EURC DeFi ecosystem. With EURC and USDC both issued by Circle and available across the same blockchain networks, the infrastructure also exists for on-chain forex trading between euros and dollars without touching centralized exchanges.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Aave V4 přilákal XAUT za 8 milionů USD, zatímco vklady na Uniswap V3, Aave V3 a Morpho Blue ve stejném období klesly. Celkové vklady XAUT na Aave vzrostly zhruba o 91,7 % na 76,7 milionu USD.
Tether Gold (XAUT) deposits across decentralized finance have undergone a quiet but significant reshuffling over the past 90 days. Aave V4, the lending protocol’s newest iteration, pulled in $8M worth of the tokenized gold token, while deposits on Uniswap V3, Aave V3, and Morpho Blue all declined during the same window.
The bigger picture is even more striking. Total XAUT deposits on Aave climbed from roughly $40M in early June to $76.7M by mid-August, a gain of approximately 91.7%. That makes Aave the clear frontrunner for anyone looking to park their digital gold in a DeFi lending protocol.
Where the gold is flowing Aave V4 launched on March 30 with a Hub-and-Spoke liquidity model designed to consolidate deposits and improve capital efficiency. The architecture lets liquidity flow more efficiently between different asset pools rather than sitting idle in isolated markets.
XAUT deposits on Aave V4 sat at about $4.4M at the end of June, rose to $7M by the end of July, and continued climbing into August. That trajectory lines up with the broader $8M net gain over the 90-day period.
Meanwhile, older venues lost ground. Uniswap V3, which still accounts for the bulk of on-chain DEX liquidity for XAUT at roughly $16.5M total, saw its share of deposits shrink. Aave V3 and Morpho Blue also experienced outflows.
Why Aave V4 is winning the tokenized gold race On Aave V4, users can deposit XAUT as collateral and borrow stablecoins like USDT and USDC against it. For someone sitting on a gold-denominated position who needs stablecoin liquidity, Aave V4 offers a cleaner on-ramp than swapping the asset outright on a DEX and eating the slippage.
Uniswap V3 serves a fundamentally different purpose. Its XAUT pools provide trading liquidity rather than lending utility. The $16.5M in DEX liquidity is still important for price discovery and spot trading, but it doesn’t offer the yield or borrowing mechanics that attract longer-term depositors.
Tokenized gold finds its DeFi niche Tether issues each XAUT token backed by one troy ounce of gold held in Swiss vaults. The token gives holders exposure to gold’s spot price while maintaining the composability of an ERC-20 token.
The nearly 92% increase in Aave’s XAUT deposits over roughly ten weeks reflects growing comfort with using commodity-backed tokens as productive collateral rather than passive holdings.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
CRV za posledních 24 hodin vzrostl o 20,5 % na zhruba 0,32 USD při trojnásobném objemu obchodů, který dosáhl 261,5 milionu USD. Růst podpořilo spuštění Llamalend V2 na Ethereum a návrh zvýšit podíl DAO z poplatků z 10 % na 30 %.
CRV climbs on heavy volume as weeks-long recovery buildsCurve DAO Token ($CRV) is trading near $0.32, up 20.5% over the past 24 hours and 33.7% on the week, with trading volume tripling to $261.5 million. The move adds further momentum to a weeks-long recovery that has tracked a broader market-wide rally.
The current rally marks a meaningful rebound from those lows, though the token remains well below its prior peaks.
Llamalend V2 on Ethereum and a fee-share proposal fuel optimismThe price move comes on the heels of @CurveFinance's H1 report, which confirmed that Llamalend V2 is now live on Ethereum with fees accruing directly to the DAO. The report also flagged a coming governance proposal to lift the DAO's protocol fee share from 10% to 30%, a change that could materially improve token economics for CRV holders.
, placing it in more direct competition with protocols such as Aave.
Uniswap na Robinhood Chain poprvé překonal 1 miliardu USD v kumulativním objemu tokenizovaných akcií. Hayden Adams zároveň očekává, že se objem časem dostane až na 1 bilion USD.
Uniswap’s combined tokenized-stock trading volume on Robinhood Chain has reached $1 billion for the first time, according to protocol founder Hayden Adams.
Summary
Uniswap has processed $1 billion in combined stock-token volume on Robinhood Chain. Hayden Adams expects the trading total to eventually reach $1 trillion. Robinhood Chain launched on July 1 with Uniswap as its main public automated market maker. Robinhood Stock Tokens remain unavailable to investors in the United States. Uniswap founder Hayden Adams announced the milestone in an Aug. 22 X post, adding that he expects trading volume for the assets to eventually reach $1 trillion.
The $1 billion figure covers cumulative swaps involving multiple tokenized stocks rather than one token or a measure of deposited assets. Uniswap said earlier this week that stock-token volume had reached $638.5 million, indicating that activity has continued to rise since the previous update.
Adams did not provide a timeframe for his $1 trillion projection. The forecast would require tokenized-stock trading on Robinhood Chain to grow one thousandfold from the latest milestone.
Uniswap stock-token volume has climbed since July Robinhood Chain opened its public mainnet on July 1 as an Ethereum layer-2 network built with Arbitrum technology. Uniswap v2, v3, v4, and UniswapX became available on the network from its first day, according to a launch announcement from Uniswap Labs.
Under the arrangement, Uniswap operates as the chain’s main public automated market maker, allowing traders to exchange Robinhood Stock Tokens through liquidity pools instead of a traditional order book. Supported assets include tokens tied to US-listed companies such as Nvidia, Apple, and Alphabet.
Trading expanded quickly after the launch. As crypto.news reported at launch, Robinhood introduced 95 Stock Tokens that eligible users in more than 120 countries could hold, transfer, and use in decentralized applications.
Robinhood described the instruments as debt securities issued by Robinhood Assets Jersey Limited. Each token tracks the economic performance of a referenced stock, but holders do not receive ownership of the underlying shares, corporate voting rights, or the other privileges normally available to shareholders.
Earlier activity on Robinhood Chain included crypto tokens, stablecoins, memecoins, and tokenized stocks. A July 9 network volume report found that Uniswap generated $500 million in daily trading volume eight days after the chain launched, up tenfold from the preceding day.
Cumulative Uniswap volume across every asset category passed $1 billion by July 10. The new figure announced by Adams is narrower because it counts stock-token trades rather than all swaps completed through the protocol.
Correlated stock pools form part of the $1B total Adams recently discussed a smaller set of Robinhood Stock Token pools that pair individual equities with a token tracking the SPDR S&P 500 ETF Trust, commonly known by its SPY ticker. Ten stock-versus-SPY pools processed $33 million from more than 11,000 traders during their first 12 days, according to his analysis.
The $33 million measurement represents only the correlated pools discussed in Adams’ report and does not cover every tokenized-stock pair included in the $1 billion total. Other markets allow users to trade stock tokens against stablecoins, Ether, and different supported assets.
In his analysis, Adams argued that pairing stocks with correlated assets could reduce the inventory risk faced by liquidity providers. A market maker supplying Nvidia and SPY tokens, for example, may face smaller price differences than one supplying Nvidia and a dollar-linked stablecoin because both equity assets can move in the same direction.
Adams presented the model as one way automated market makers could compete in equity markets, where professional firms currently supply much of the liquidity. His projection remains untested at the scale of traditional stock exchanges, while the first Robinhood Chain pools provide a limited set of onchain trading data.
Robinhood Chain’s initial activity has not come solely from tokenized equities. A July FalconX data report found that memecoins generated more than 80% of the network’s decentralized-exchange volume during its first three weeks.
At the time, the chain had recorded nearly $9 billion in cumulative DEX volume, $431 million in total value locked, and close to $400 million in stablecoin supply. Tokenized stocks accounted for a smaller share of total trading even though Robinhood designed the network around real-world assets and related financial applications.
Robinhood Stock Tokens remain restricted in the US For American investors, Robinhood states that Stock Tokens are not available in the United States. Eligibility rules also apply in other jurisdictions, preventing the blockchain’s permissionless design from automatically granting every wallet legal access to the assets.
Uniswap Labs gives a similar warning for tokenized securities available through its products. According to the company, some tokens may not represent direct ownership of the securities they reference, while issuers can impose identity checks, wallet allowlists, transfer rules, and geographical restrictions.
The company also states that certain securities accessible through Uniswap products have not been registered under the US Securities Act of 1933. Such assets cannot generally be offered or sold in the United States without registration or an applicable exemption.
To support assets with compliance requirements, Uniswap Labs introduced Permissioned Pools for v4 in July. The system lets issuers maintain allowlists that smart contracts check before a user can swap an asset or provide liquidity.
A previously published permissioned-pools report said Superstate, Securitize, and Dowgo helped develop the standard for regulated tokenized funds, stocks, and other securities. Regular Uniswap v4 pools remain permissionless, while issuers can select the restricted structure when their assets require identity or eligibility checks.
Robinhood Chain activity has fed into Uniswap fees Robinhood Chain’s early trading also became a major source of Uniswap fees. During one 24-hour period in July, DefiLlama recorded about $5.16 million in fees across the protocol, including roughly $4.38 million generated on Robinhood Chain.
Daily Uniswap traders on the network reached about 220,000 during the same period, while the chain produced $10.98 million of the protocol’s $20.1 million in weekly fees. Protocol fees differ from revenue because liquidity providers receive much of the money paid by traders.
Robinhood subsidized gas costs for the first 90 days after mainnet went live, lowering transaction expenses during the chain’s launch period. A July 11 network update found that the blockchain processed 7.6 million daily transactions while Robinhood covered gas fees that users would otherwise have paid.
Uniswap later expanded its Robinhood Chain presence by launching Pools.trade, a platform that lets projects issue tokens and move their liquidity into Uniswap v4 pools. The product offers crowd-based and instant token launches, with completed launches settling into permanently locked liquidity positions.
Tři široce používané balíčky Rust byly krátce kompromitovány a mohly umožnit vzdálené spuštění kódu i krádež přihlašovacích údajů. Zasažen byl i ekosystém Solana, protože balíček arrayref je jeho klíčovou součástí.
Three widely used Rust packages were briefly hijacked on August 20, 2026, injecting malware into developer builds and putting critical blockchain infrastructure, including Solana’s, in the blast radius. The attack lasted less than two hours.
The compromised crates, [email protected], [email protected], and [email protected], were published to the crates.io registry in a tight 23-minute window between 07:15 and 07:38 UTC. Each contained a dependency on a poisoned version of proc-macro1, which quietly activated a build script during Cargo builds. That script downloaded and executed malware on the developer’s machine without touching the original crate source code.
What happened, and how fast it moved The Rust Security Response Team moved quickly once the threat was identified. The malicious version of arrayref was live for 86 minutes, internment for 90 minutes, and append-only-vec for 107 minutes before all three were yanked from the registry. The maintainer account believed to be compromised was locked.
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To put the exposure in context: the previous clean version of arrayref alone, version 0.3.9, had accumulated somewhere between 152 and 245 million lifetime downloads. That’s the kind of package that sits deep in dependency trees across thousands of projects, often pulled in transitively without developers ever consciously choosing it.
The risks from successful infection included remote code execution and credential theft, meaning any developer whose build process pulled the poisoned versions could have had their machine fully compromised.
Why Solana sits at the center of the concern The arrayref crate is a foundational component in Solana’s ecosystem, used in token interfaces and core blockchain infrastructure. The other affected crates similarly appear in dependency chains for projects building on Solana and, to a lesser extent, Ethereum tooling.
No widespread exploits or project-specific compromises have been publicly reported as a result of this incident.
North Korean fingerprints Researchers at Wiz, a cloud security firm, have linked the attack to North Korean cyber actors, specifically a group tracked as Sapphire Sleet. This attribution fits a well-documented pattern. North Korean state-sponsored groups have been systematically targeting cryptocurrency infrastructure for years, using supply chain compromises, social engineering of developers, and trojanized tools to steal funds and credentials.
Developers who built projects during the exposure window are being advised to inspect their Cargo registry cache for the specific malicious versions and to pin dependencies below the compromised releases.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SOL Treasury Company (HSDT) podpořila Solana Constitution, ale zatím odmítla návrhy na změnu míry inflace i poplatků za transakce. On-chain hlasování začne 22. srpna.
SOL Treasury Company (HSDT) has announced its voting stances on the first three Solana Governance Proposals (SGPs): it supports SGP-0001, the "Solana Constitution"; opposes SGP-0002, which would double the inflation reduction rate; and rejects SGP-0003, which would shift transaction fees from fixed to variable. On-chain voting is scheduled to open on August 22. The firm stated its support for the Solana Constitution stems from the new governance framework, which allows every staker to vote directly, and holders can always override the votes of the operators they have delegated—this, it says, facilitates institutional participation in network decision-making. Regarding the other two proposals, the company emphasized it is not opposed to the policy directions themselves, but rather the timing. This is a critical phase for institutions considering entering Solana, where rule stability and predictability are top priorities for institutions. Altering core economic parameters like inflation rates and transaction fees at this juncture could further deter institutions that remain on the fence. The firm added that it will support revisiting inflation reduction once it sees sustained net capital inflows into SOL, and is open to reconsidering variable transaction fees after the ecosystem adapts.
The supply of tokenized equity on Solana has surged since early 2026, now approaching $470 million, according to recent data. This growth is largely driven by xStocks, a significant player in the tokenized U.S. stocks and ETFs market on Solana, which accounts for the majority of this supply. This increase suggests a rising interest in on-chain equity solutions within the Solana ecosystem, potentially indicating broader adoption and investment in its infrastructure.
The notable expansion in tokenized equity reflects a broader trend of increasing utilization of blockchain technology for traditional financial instruments. xStocks, offering tokenized versions of U.S. stocks and ETFs as SPL tokens, represents Solana’s significant role in this evolving market. The tokens are backed 1:1 by shares held with regulated custodians, providing a secure and transparent method for accessing equity markets on-chain.
Market data reveals that this rise in tokenized equity supply corresponds with positive sentiment in prediction markets regarding Solana’s price trajectory. Currently, there is a marked increase in confidence, as evidenced by the 8.7% YES pricing for Solana reaching $120 by September 1, a notable jump from previous figures. This development may indicate optimism among market participants regarding Solana’s continued growth and adoption.
Key Takeaways Solana’s tokenized equity supply appears to have significantly increased, reaching about $470 million. xStocks accounts for the vast majority of the tokenized equity on Solana, suggesting concentrated interest in this offering. Prediction markets suggest that this growth is consistent with supportive pricing for Solana’s potential price increases. What to Watch Watch for further developments in Solana’s tokenized equity market, particularly any additional increases in supply or new product offerings. The performance of xStocks and any regulatory changes affecting tokenized securities could further influence market perceptions. Additionally, any announcements related to Solana’s infrastructure or partnerships may impact the likelihood of Solana reaching key price targets in prediction markets.
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Term Structure
Contract Odds Δ since publish Volume 24h September 1 2026 0.6% — — View market → September 1 2026 1.5% — — View market → September 1 2026 2.7% — — View market → September 1 2026 9% — — View market → September 1 2026 60.3% — — View market → September 1 2026 4.8% — — View market → September 1 2026 1.1% — — View market → September 1 2026 0.4% — — View market → September 1 2026 0.1% — — View market → September 1 2026 1.8% — — View market →
XDC Network dosáhla nového maxima 27,7 milionu měsíčních transakcí, což je za posledních šest měsíců nárůst o 50 %. K síti se zároveň přidal Clear Street jako validátor.
There’s been an uptick in users and institutions that are engaging with XDC Network [XDC]. That, coupled with general market conditions, has given XDC price a good boost.
XDC network monthly transactions at an ATH Activity on XDC Network has reached a new peak. Monthly transaction count has climbed to an all-time high of 27.7 million. That’s a mammoth 50% increase over the past six months!
Source: Token Terminal Monthly transactions were at 5 million around early 2020, and grew through 2021 and 2022. Activity picked up further after 2024, with frequent shows above 20 million.
Institutional names are lining up at the door Clear Street has joined XDC Network as a masternode validator. They’ll take part in block validation, ledger maintenance and network governance.
Running a masternode requires operators to stake at least 10 million XDC. About the move, Clear Street Digital CEO Robert Rutherford said,
Compliant public blockchains are becoming part of the capital markets stack, and the firms that build market infrastructure should help operate that layer.
Clear Street is the latest in a series of big names to join XDC Network. Since April, Animoca Brands, Clearpool, SettleMint and CertiK have also come on board as validators.
XDC price pushes up higher At the time of writing, XDC was trading at around $0.0294. That’s a 2.38% increase for the day, and it follows big moves over the previous few sessions.
Source: TradingView RSI was at 69.84, putting it in a firmly overbought setup. Meanwhile, the MACD was positive, with the recent histogram bars expanding with the price increase.
As it stands, there’s clear bullish momentum… at least for the immediate short-term. However, with RSI at about 70, a pullback or a consolidation is likely when things calm down.
Final Summary XDC Network monthly transactions hit an ATH of 27.7 million, up 50% in six months. Clear Street has joined the network as a validator, among other big names.
Co-founder Kieran Warwick says the reduction puts the Ethereum game studio past 12 months of runway, with the remaining team working almost entirely on its Overworld MMO.
Illuvium's team has agreed to reduce its wages again to preserve the studio's runway, which co-founder Kieran Warwick now puts at more than 12 months, he said Friday.
The cut buys Illuvium past August 2027 on Warwick's own numbers, at a point when crypto gaming studios are closing. Proof of Play announced on Aug. 5 that it was ceasing operations and open-sourcing Pirate Nation's code and art under CC0. The games Illuvium has already shipped cover a fraction of its payroll: the protocol generated $9,781 in fees and revenue over the past 30 days, according to DefiLlama, which puts the trailing-year annualized rate at $123,194.
DefiLlama values Illuvium's treasury at $2.78 million against $60 million raised, and the ILV staked in its pools at $2.21 million, or 7.98% of market capitalization. ILV trades at $3.35, up 6.1% on the day and 17.9% over the week, per CoinGecko, for a market cap of $27.74 million. The token hit an all-time low of $2.69 on July 29 and sits 99.8% below its November 2021 high of $1,911.26.
The wider crypto market rose 18.6% over the same seven days. Warwick closed his post by saying his confidence had "nothing to do with the price of ETH."
Wages Cut Even FurtherWarwick said the studio has "heavily reduced costs" over six months and that the team "agreed to reduce their wages even further to preserve runway." He did not give the size of the cut, the number of staff remaining, or the studio's cash position.
The February update in which Warwick set out the current plan put runway "into mid next year," meaning mid-2027. Friday's wording — "over 12 months of runway again" — indicates the figure had fallen below a year in the six months since.
The Team We Have Left"The team we have left is almost entirely focused on the MMO, and most of them have been with us for more than three years," Warwick wrote, referring to Overworld.
February's post targeted a December 2026 release for Overworld, with multiplayer combat, dungeon runs, creature capture and onchain items, and no player-versus-player mode at launch. Warwick gave no date on Friday, saying he was running his "final play session of the latest Overworld build" before publishing feedback.
Four other products are launching this year, he said: a Celebrations collection for Illuvium Beyond, Beyond Chaos, Primal Tactica and Loadout. That schedule has slipped from February, when Warwick said Beyond's Wave 5 would complete the collectible card game's first set, to be followed by a three-year celebration set and then Set 2. Wave 5 shipped with a Lamborghini exclusive collection that ran from April 21 to May 5. Warwick now says the Celebrations collection "will be the final release in the Set 1 collection." He gave no detail on Beyond Chaos.
Beyond, launched in March 2023, is Illuvium's "number one revenue-generating game by a long shot," Warwick wrote in February.
Steam Debut In OctoberPrimal Tactica is the product of the licensing deal Warwick described in February, when Arena's head designer asked to take the IP and ship a game with the web3 elements stripped out on Steam, with Illuvium keeping most of the revenue after platform fees. Warwick said Friday the build is nearly complete, will debut at Steam Next Fest in October, and that "Illuvium receives the lion's share of the revenue." He offered test keys by direct message.
The Steam listing names Errata Studio Ltd as developer and publisher, sets an Early Access release for Q4 2026, and describes a roguelike autobattler with more than 200 creatures called Primals. Illuvium is not mentioned on the page.
Nothing To Stake ForLoadout, Warwick said, "will distribute tokens to the Illuvium staking contract and give people a reason to stake ILV and ILV-ETH again."
Warwick's X bio lists him as founder of Loadout, a Solana trading platform for game tokens that routes 4% of each token's trading volume to the game's treasury and charges a 1% protocol fee. Its site reports 2.7K traders signed up and 37 studios confirmed, with no launch date. Warwick said an announcement is close.
Stakers have little coming to them now. DefiLlama puts holders' revenue at a $0 30-day run rate. Under Staking V3, launched on Base in November 2025, direct ILV rewards trigger at 150 ETH revenue milestones — roughly $360,000 at current prices, against the $9,781 the protocol took in over the past month. Illuvium also says distributions resume only once its Safety Pool is fully funded under ICCP-22. Shards, the seasonal loyalty points stakers earn daily, are emitted at a rate that falls 2.97% every Monday.
Sentiment At All-Time LowWarwick's February post described crypto sentiment as "at an all-time low" and crypto gaming as "even lower." A month later, Solana Foundation president Lily Liu said gaming on a blockchain "is not coming back."
Illuvium raised $72 million in a land sale over four days in June 2022, selling 19,969 plots by Dutch auction. DefiLlama counts $12 million in total capital raised by the protocol. Kieran Warwick is CEO of Illuvium Labs and his brother Aaron is game director.
Injective udržuje syntetické trhy iAssets otevřené i při výpadku cenového feedu; u akcií se pauza týká jen víkendů, P/L zůstává fixní na poslední ceně a likvidace je prakticky nemožná.
@injective has built a suite of synthetic perpetual markets, called iAssets, that let traders gain exposure to equities, commodities, and foreign exchange without holding the underlying asset.
Margin is posted in $USDT (or other supported stablecoins), and leverage is available, varying by market. The contracts are accessed primarily through frontends like the Helix decentralized exchange.
How oracle pauses workThe 24/7 nature of crypto creates a structural tension with traditional markets. FX and commodity price feeds do not run continuously, and equity feeds follow their own session schedules. For equities, the oracle pauses only on weekends, aligned with the underlying equity market structure.
Traders can still open or close positions during a freeze, but profit and loss stays fixed at the last reported price, making liquidation virtually impossible until the feed resumes.
Capital efficiency without the collateral poolInjective's design distinguishes it from CDP-based synthetic protocols by avoiding pre-funded collateral pools and instead relying on market makers to provide depth and dynamically allocate capital. Builders on Injective can permissionlessly access Pyth price feeds spanning equities, commodities, FX, and crypto. These feeds have already been integrated by Helix, a decentralized order book exchange serving retail traders and institutions alike.
Injective's RWA perpetuals crossed $6 billion in cumulative volume by early November 2025, per Messari, with by mid-2026. The oracle-pause mechanism is a key part of that infrastructure, ensuring that market access remains open even when the underlying data source goes offline, without exposing traders to unfair liquidations in the process.
Sources:
Injective Docs: iAssets Overview
Injective Docs: 24/5 Equity Feeds and SEDA Integration
CoinGecko: Injective in 2026 Convergence Report
Aptos zaznamenal nové historické maximum 11,7 milionu transakcí za den, což je o 6,5 % více než předchozí rekord za posledních 24 hodin. Růst naznačuje trvale silnější aktivitu na síti.
Aptos Hits 11.7 Million Daily Transactions@Aptos has recorded a new all-time high of 11.7 million transactions in a single day, a 6.5% increase over the previous record set just 24 hours earlier. The back-to-back peaks signal that demand on the network is not a one-off spike but part of a sustained upward trend in on-chain activity.
The milestone fits into a broader pattern of accelerating growth in 2026. The 11.7 million figure reported on August 21 represents another step above that range.
Architecture Built for This Kind of LoadThe numbers reflect an infrastructure deliberately engineered for high throughput.
Much of that capacity comes from Aptos's parallel execution engine.
The transaction growth also comes alongside broader ecosystem development.
With daily transaction counts continuing to set new highs and network infrastructure designed to handle far greater loads, @Aptos appears to be building durable momentum rather than chasing short-term spikes.
Sources
TheStreet Crypto: Aptos crosses 4.5 billion total transactions as daily activity hits record
Everstake: Aptos in 2026 - Latest News, Roadmap, and DeFi Updates
Nansen: Aptos H2 2025 Report
Igra Labs se integrovala s Tangem a přináší Kaspa-native DeFi více než milionu uživatelů hardwarové peněženky. Držitelé $IGRA mohou používat aplikace Igra bez přesunu aktiv do horké peněženky.
Igra Labs Goes Live on Tangem@Igra_Labs has integrated with @Tangem, bringing Kaspa-native decentralised finance to more than one million hardware wallet users. The move gives $IGRA holders access to the Igra apps ecosystem while keeping private keys secured in cold storage, removing a trade-off that has historically pushed DeFi users toward less secure software wallets.
The integration is built on WalletConnect, delivered through Tangem app version 6.1.3. For Tangem users, that means approving transactions via NFC tap rather than exposing keys to an internet-connected device.
What the Integration Means for Kaspa DeFiIgra Network is the EVM-compatible execution layer built on top of Kaspa's proof-of-work BlockDAG.
By connecting to Tangem through WalletConnect, $IGRA holders can now interact with decentralised apps on Igra Network without moving assets to a hot wallet first.
That security baseline now extends to Kaspa-native DeFi for the first time, as the Igra and Tangem integration marks a meaningful step in making cold-storage-secured DeFi access a practical reality rather than a technical workaround.
Sources
Igra Network Public Mainnet Launch, Crypto Adventure
WalletConnect on Tangem, Tangem Official Blog
Kaspa Integrated on Tangem, Kaspa.org
BounceBit Chain po protokolové zranitelnosti zastavil produkci bloků a rozhodl o trvalém ukončení provozu sítě. BB bude znovu vydán jako BEP-20 na BNB Chain, bez 286 543 148 tokenů od útočníků.
Cross-chain yield protocol BounceBit has released a security incident notice, stating its blockchain network suffered a protocol-level vulnerability attack from 21:02 UTC on August 19 to 01:54 UTC on August 20. Attackers exploited an authorization flaw in Evmos’ underlying architecture to transfer BB tokens from 9 mainnet accounts without account owners’ authorization. Per the notice, the attackers moved approximately 286.5 million BB via 14 transactions. The incident is limited to BounceBit Chain itself, with no involvement of private key leaks, signature forgery, wallet, hardware device, or exchange account security issues. BounceBit’s CeDeFi Strategy, Promo Vaults, Prime, and RWA products were all unaffected. BounceBit noted the vulnerability stemmed from an authorization validation flaw in Evmos’ protocol-native module. When the attacker called the relevant module via a smart contract, they bypassed the security check that should verify the fund source account’s authorization, allowing them to designate any account as the fund source. After the incident, BounceBit Chain stopped block production at block height 20,702,857. The team decided not to perform a chain upgrade, instead permanently shutting down BounceBit Chain and reissuing BB as a BNB Chain-based BEP-20 token. The new BB supply will be based on an on-chain snapshot taken before the first abnormal transfer (block height 20,697,260). The 286,543,148 BB tokens transferred by attackers will not be included in new balances. Users do not need to submit applications or migrate wallets; the official will automatically distribute new BB to corresponding BNB Chain addresses.
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MANTRA spadl na historické minimum 0,0041 USD poté, co projekt pozastavil blockchain kvůli zranitelnosti v upstream dependency. Token byl zároveň za den dole o 8,5 %.
MANTRA (MANTRA) slid to an all-time low of $0.0041 as the project froze its blockchain and said an attacker was targeting a vulnerability in an upstream dependency.
The record low came as the rest of the market climbed, extending a rally that accelerated on Wednesday.
Why MANTRA Halted Its ChainMANTRA Chain, a Layer 1 blockchain built for tokenizing real-world assets, was halted earlier today. Its initial notice said all endpoints and transactions were frozen.
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We're aware of an incident affecting MANTRA Chain and have halted the chain as a precaution while we investigate. All endpoints and transactions are currently frozen.
This means deposits and withdrawals to/from MANTRA Chain are temporarily affected. If you're unsure how this…
— MANTRA | The EVM L1 for RWAs (@MANTRA_Chain) August 21, 2026
A later update named the cause. The team pointed to an attacker exploiting a vulnerability in an upstream dependency, meaning third-party code the chain relies on rather than software it wrote itself.
“Earlier today, we detected an attacker exploiting a vulnerability in an upstream dependency used by the chain and halted the network as a precaution,” the update read.
MANTRA said it has identified the vulnerability and is now preparing a patch. Its validators and infrastructure remain offline until the upgrade is ready.
“Resuming the network will require a coordinated restart with the wider validator set — we will not resume until the patch is verified and that coordination is in place,” it added.
The team is also tracing where funds moved and has contacted exchange partners. Deposits and withdrawals remain paused at affected venues, and the total scope of the impact remains unconfirmed. The team also warned holders to ignore anyone offering recovery help.
MANTRA Misses a Market-Wide Rally The incident has also impacted the token. MANTRA changed hands at $0.0044 at press time, down 8.5% on the day.
MANTRA Token Price Performance. Source: BeInCrypto MarketsThat slide ran against the broader market. Bitcoin (BTC) topped $75,000 earlier today as short liquidations reached $1.06 billion. Other major cryptocurrencies also traded higher, lifting the total crypto market capitalization by nearly 4% over the past day.
The incident marks the network’s second major crisis in 16 months. Its token, then known as OM, lost nearly 90% of its value in April 2025, wiping out about $5.5 billion in market value in less than an hour.
The project retired the OM ticker this March. A non-dilutive 1:4 split at block 13,000,000 converted each OM into four MANTRA, and the token posted a 37% launch-day rally.
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XRP dnes vzrostl o 17 % na 1,30 USD a na týdenním grafu tvoří klesající klín, který může signalizovat obrat trendu. Obchodní objemy zároveň vzrostly o 127 % za 24 hodin na 8,17 miliardy USD. CEO Ripple Brad Garlinghouse zároveň uvedl, že firma míří na rekordní rok.
Ripple (XRP) price is up by 17% today, August 21, to trade at $1.30 at the time of writing. The gains come amid a surge in buying pressure, with data from CoinMarketCap showing that trading volumes are up by 127% in 24 hours to $8.17 billion.
XRP is now forming a falling wedge pattern on the weekly chart that usually suggests that the downtrend that pushed the price from $1.94 in January to $0.99 in August could be over. Meanwhile, Ripple’s CEO Brad Garlinghouse opines that the company will have a record year.
Garlinghouse Says Ripple Will Have a Record Year Garlinghouse was speaking at the Wyoming Blockchain Symposium, where he said that Ripple is on the verge of doubling its revenue in 2026. He attributed this increase in revenue to the acquisitions of Hidden Road and GTreasury in 2025.
His remarks also come at a time when Ripple is expanding its footprint in the traditional finance space. A recent report by CoinGape noted that Ripple is partnering with Clearpool and Cicada to bring institutional credit to the XRP Ledger.
During the Wyoming Blockchain Symposium, Garlinghouse also sparked speculation of Ripple filing for an IPO, saying that the company is no longer entirely opposed to going public.
“We’ve been very happily private for a long time… we are more neutral on the topic than maybe we used to be,” he said.
These remarks coincide with a bullish sentiment across the crypto market that has seen the price of XRP gain by 31% in three days.
XRP Price Creates a Bullish Wedge Pattern The price of XRP is forming a falling wedge pattern on the weekly chart. This pattern usually suggests that the trend is changing from a bearish one to a bullish one.
XRP has also moved above the resistance at the upper trendline of the wedge pattern. Still, it has to close above this resistance to confirm the bullish outlook to move to the next obstacle at $1.71.
The RSI that has moved from an oversold reading of 30 on August 10 to 49 today, August 21, also confirms that the trend is shifting. The current RSI reading shows that selling pressure has eased, and the price of XRP could extend the gains.
The value of XRP today is also testing the resistance at the 200-day EMA of $1.36. If it moves above this EMA, it will confirm that the long-term trend is changing to favor bulls.
XRP Price Chart (Source: TradingView) If this bullish thesis fails and XRP price fails to close above the 200-day EMA, it might drop to the psychological support of $1.20.
XRP ETF Volumes Reach $125 million Data from SoSoValue shows that the total value traded for XRP ETFs has reached $125 million. The Bitwise XRP ETF accounts for the biggest share of these volume numbers, with $83 million traded since the product launched.
The recent 31% gain in XRP price has also increased the demand for XRP ETFs, because they recorded $13.24 million in inflows on August 20. This marks the biggest single-day inflows recorded by the ETFs since June 29.
XRP ETF Flows (Source: SoSoValue) The surge coincides with surging demand for all crypto ETFs after the total inflows reached $885 million on August 20, with Bitcoin (BTC) leading with $606 million in inflows.
Cover image via depositphotos.com 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.
Chainlink's native token (LINK) is ending the week with a strong 22.05% gain, reaching $11.45 on TradingView. Positive capital momentum has been building over the past seven days amid hearings before a CFTC advisory committee and the commercial rollout of the project's new AI platform.
LINK price chart and Chris Barrett's post on X. Source: TradingViewCommenting on these developments, the company's communications director, Chris Barrett, quipped on social media today: "You can't spell Chainlink without AI." The play on words directly refers to the project's infrastructure expansion into the autonomous machine sector.
Inside Chainlink's move into AI and U.S. regulationThe developers are targeting practical demand as AI systems and robots operating 24/7 cannot rely on the traditional banking system because of its delays and limited operating hours.
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Launched in mid-August under the mission "The Onchain Engine for the Agentic Economy", the Chainlink for Agents platform addresses the problem of machine payments by serving as a verified data layer for AI agents settling transactions in stablecoins through the CCIP protocol.
The practical value of these rails is confirmed by the speed of their commercial adoption: Robinhood and BitGo have already begun integrating the AI layer.
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At the same time, Chainlink's leadership is building a regulatory foundation around cybersecurity. At a CFTC committee meeting, project co-founder Sergey Nazarov presented smart contract architecture as a tool for protecting U.S. financial markets from algorithmic manipulation and attacks by advanced AI systems.
The hearings demonstrated a shift in the direction of U.S. authorities: instead of debating the legality of cryptocurrencies, regulators focused on establishing rules for moving domestic markets onchain. Commenting on the changing agenda in Washington, Chris Barrett emphasized:
"Instead of debating whether crypto belongs in the U.S., the focus was on how prediction markets, perpetuals, and other onchain financial products can operate here within clear rules."
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For Chainlink, this regulatory shift opens new operational avenues that are already supported by its presence in government infrastructure. Macroeconomic indicators from the U.S. Department of Commerce are transmitted through the oracle network, while the Bermuda Monetary Authority uses the company's tools for embedded supervision.
The current capital inflow reflects major players' bet that the project will establish itself as a core infrastructure layer for traditional finance.
The Project Pangea banking consortium, with more than $10 trillion in assets under management, clearing corporation DTCC, investment giants UBS and Amundi, as well as JPMorgan and CME, are already using Chainlink solutions to settle real-world assets (RWA).
Ethena (ENA) za sedm dní vzrostla asi o 65 % na 0,142 USD po oznámení úvěrové facility v objemu 1 miliardy USD od FalconX a býčích komentářích Arthura Hayese. Trh sleduje rezistenci na úrovni 0,1465 USD.
Ethena price extended its weekly gain to about 65% on Aug. 21, reaching $0.142 after a $1 billion lending deal with FalconX and bullish calls from Arthur Hayes fueled demand for ENA.
Summary
Ethena price gained about 65% in seven days and reached an intraday high near $0.145. A $1 billion FalconX facility will fund overcollateralized loans using assets backing USDe. 4-hour RSI reached 93.97, warning that the near-vertical rally is overheated. A break above $0.1465 could expose $0.1587, while $0.1343 is the first support. Ethena price action today According to data from crypto.news, Ethena (ENA) price traded near $0.140 at press time, up about 20% on the daily chart. The token briefly reached $0.1448 after opening the session at $0.116, extending a rally that began near $0.082 on Aug. 18.
The move carried ENA through several resistance levels in less than three days. Buyers first reclaimed $0.10, which had limited previous recovery attempts, before breaking through $0.1099, $0.1221, and $0.1343.
ENA’s 4-hour chart shows that most of the advance occurred through consecutive large green candles. The token has gained more than 70% from its Aug. 18 low, leaving little consolidation between the previous trading range and its current price.
The breakout also reversed a longer period of weakness. ENA had fallen from above $0.21 at the start of 2026 and spent much of June through mid-August between $0.07 and $0.10.
What is driving the ENA rally? The immediate catalyst was a $1 billion secured warehouse facility announced by FalconX and Ethena.
Under the arrangement, assets backing Ethena’s USDe synthetic dollar can fund overcollateralized loans to institutional borrowers. FalconX will originate and service the loans while also managing the collateral, which will be held with qualified custodians.
Ethena will hold a first-priority security interest over the assets in the lending vehicle. The structure gives the protocol another potential source of returns beyond crypto basis trades, whose yields can weaken when demand for leveraged futures positions declines.
The $1 billion figure describes the facility’s total capacity rather than confirmed capital deployed on its first day. Interest rates, eligible collateral, borrower requirements, and the initial amount drawn have not been disclosed.
Bullish commentary from BitMEX co-founder Arthur Hayes added to the momentum. Hayes wrote in an Aug. 21 X post that an “$ENA 5 bagger is just too easy,” alongside a chart pointing toward roughly $0.50.
Hayes had previously argued that stronger US dollar liquidity could lift Bitcoin, improve derivatives basis yields, and attract capital back into USDe. On-chain reports earlier in August also linked him to purchases totaling 22.64 million ENA worth about $2 million.
Trader Daan Crypto Trades separately identified $0.14 as an important level after ENA gained more than 30%.
“Could see some resistance there. If it breaks higher we’re off to the races,” the trader said in an Aug. 21 X post.
ENA has now reached that area, making its reaction around $0.14–$0.1465 central to the next move.
ENA indicators warn the rally is overheated Momentum remains strongly bullish, although the 4-hour indicators show a growing risk of short-term profit-taking.
Ethena price 4-hour chart — Aug. 21 | Source: crypto.news ENA’s 4-hour Relative Strength Index reached 93.97, far above the 70 level commonly associated with overbought conditions. Its RSI moving average stood at 75.97, confirming that momentum has remained elevated across several candles rather than during one brief spike.
The Moving Average Convergence Divergence indicator also supports the uptrend. The MACD line rose to 0.0114, above the 0.0062 signal line, while the positive histogram expanded to 0.0052. The widening gap shows that buying momentum was still accelerating when the chart was captured.
Daily Aroon readings provide another bullish signal. Aroon Up stood at 100%, consistent with ENA recording a fresh high, while Aroon Down was at 64.29%. The readings favor buyers but also reflect the speed and volatility of the reversal from ENA’s earlier lows.
Ethena price daily chart — Aug. 21 | Source: crypto.news Overbought readings do not guarantee an immediate decline. However, an RSI near 94 means traders entering after the vertical move face a greater risk if momentum slows or early buyers begin taking profits.
ENA price targets $0.1587 if $0.1465 breaks The daily chart places $0.1465 at the next major resistance. ENA traded just below that level after its intraday high reached approximately $0.1448.
A daily close above $0.1465 would confirm a breakout from the current trading range. The next technical targets would be $0.1587 and $0.1709, followed by $0.1831 if momentum remains strong.
Failure to clear $0.1465 could produce a retest of $0.1343, which previously acted as a reversal level. Lower support sits at $0.1221, followed by $0.1099 and the former breakout area around $0.0977–$0.10.
CoinGlass’ three-day liquidation heatmap shows substantial leverage concentrations below the current price. The strongest nearby clusters appear around $0.118–$0.120, with additional liquidity between $0.104 and $0.116.
Ethena liquidation heatmap | Source: CoinGlass A decline through $0.1343 could therefore accelerate as leveraged long positions face pressure. Holding that level would allow ENA to consolidate without breaking the short-term bullish structure.
US market context remains tied to risk appetite ENA’s rally has also benefited from a broader recovery across the crypto market as Bitcoin moved toward multi-month highs. Rising demand for higher-risk DeFi tokens often follows strength in Bitcoin and Ether, although such assets can also record sharper losses when market sentiment reverses.
FalconX’s US presence gives the lending agreement an institutional connection for American markets. FalconX Bravo, an affiliate of the prime broker, is registered with the Commodity Futures Trading Commission as a swap dealer focused on crypto derivatives.
The warehouse facility does not remove the risks attached to USDe or ENA. Borrower defaults, collateral declines, custody arrangements, smart-contract exposure, changing derivatives yields, and future token unlocks could still affect the protocol and its governance token.
For now, ENA’s breakout remains intact above $0.1343. A close above $0.1465 would support another leg toward $0.1587, while a rejection combined with the extreme RSI reading would raise the probability of a pullback toward $0.1221.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
MEXC zalistovala na spotovém trhu pár MRNAON/USDT, tokenizovanou akcii společnosti Moderna od Ondo. Tím rozšiřuje nabídku tokenizovaných amerických akcií.
MEXC, a pioneer in 0-fee digital asset trading, has listed the MRNAON/USDT trading pair on Spot, giving users a new opportunity to access U.S. stock markets as part of its expanding lineup of Ondo tokenized stock offerings.
Moderna, Inc., a U.S.-based biotechnology company known for its mRNA vaccine platform, has seen its shares rally sharply in recent trading. On August 19, 2026, Moderna and Merck announced that their investigational personalized mRNA cancer vaccine, used in combination with Keytruda, met the primary endpoint of a late-stage melanoma trial, with the combination regimen meeting the main study goal of significantly extending the time patients lived without their melanoma returning, compared with Keytruda alone. Moderna’s stock price soared 177% that day, delivering a substantial blow to short sellers, marking one of its largest single-session gains on record and drawing renewed market attention to the company’s expanding pipeline beyond vaccines.
The MRNAON/USDT trading pair went live on Spot at 09:00 on August 20, 2026 (UTC). Deposits are open, with withdrawals enabled from 09:00 on August 21, 2026 (UTC).
As the latest addition to MEXC’s ongoing collaboration with Ondo, the listing reflects MEXC’s efficiency in bringing trending assets to market, giving users timely investment exposure to one of the most closely watched biotech stocks in the current market. Ondo Stocks (formerly Ondo Global Markets) is a platform designed to bring traditional public securities on-chain through tokenized assets, enabling investors outside the United States to invest in publicly traded U.S. securities, including stocks and ETFs. These tokenized assets are freely transferable and usable in DeFi.
Tokenized stocks have taken on a growing role in MEXC’s trading activity. In July, tokenized stocks became the largest category within MEXC’s TradFi spot market, accounting for 62% of total spot trading volume. The trend underscores rising user demand for tokenized stocks, and MEXC will continue to expand its tokenized stock offering, empowering users to capture opportunities across global markets. In addition, MEXC 0808: Stock Season, the platform’s annual brand event running through August 28 (UTC), is offering 0 Fees across Tokenized Stocks, Stock Futures and RealStocks, along with the opportunity to share in a $500,000 prize pool.
About MEXC
MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
This content does not constitute investment advice. Given the volatility of financial markets, including digital assets, tokenized assets, and traditional financial products, investors should carefully assess market conditions, underlying asset fundamentals, and potential financial risks before making any investment or trading decisions.
Aster přidal podporu pro vklady a výběry USDG na Robinhood Chain. Uživatelé tak mohou přes self-custody peněženku převádět stablecoin přímo k obchodování bez KYC.
Aster, an on-chain trading platform that lets users trade perpetuals and spot markets directly from self-custody wallets, has added support for USDG deposits and withdrawals on Robinhood Chain. The integration gives traders a direct pipeline between Robinhood’s freshly launched Layer 2 blockchain and a platform that doesn’t require Know Your Customer verification.
What Robinhood Chain actually is Robinhood Chain launched its mainnet on July 1, 2026, built on top of Arbitrum’s technology stack. The Layer 2 network is designed around two specific use cases: tokenized real-world assets and decentralized finance applications.
USDG, the Global Dollar stablecoin issued by Paxos, holds the distinction of being the first stablecoin natively issued on the chain. Paxos maintains 1:1 dollar backing for USDG and publishes monthly attestations to verify those reserves.
Through Robinhood’s Earn product, USDG deposits can generate an estimated 7% APY via Morpho vaults, which come with insurance provisions.
Uniswap liquidity for USDG on Robinhood Chain surged to $8.5 million within just one week of the mainnet going live.
How Aster fits into the picture Aster enables both perpetual futures and spot trading without requiring users to complete KYC, operating entirely through self-custody wallet connections. Users maintain control of their own private keys throughout the trading process.
With the USDG integration, users can now deposit the stablecoin from a Robinhood wallet directly into Aster for trading, and withdraw back out when they’re done. The wallet-based flow eliminates the need for centralized intermediaries to handle the transfer.
The bigger strategic picture USDG is distinct from Robinhood’s custodial services but is also tradable on Robinhood Crypto, giving the token exposure across both centralized and decentralized environments.
Circle’s USDC and Tether’s USDT still dominate overall stablecoin volume by orders of magnitude, but USDG’s native positioning on Robinhood Chain gives it a home-field advantage in this particular ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tether ukončil bitcoinový mining v Uruguayi za 120 milionů USD po vleklém sporu s tamním státním dodavatelem elektřiny UTE. Provoz byl kvůli nedostatku proudu a neuhrazeným platbám odstaven.
Tether, the company behind the world’s most traded stablecoin, has ended its $120 million Bitcoin mining operations in Uruguay after a prolonged dispute with the country’s state electricity provider. The withdrawal signals both major financial losses for Tether and a shift in regional mining ambitions.
Electricity dispute forces closureTether launched its Uruguay Bitcoin mining initiative in 2023, citing the nation’s renewable energy potential, stable political environment, and reliable grid as key factors for selecting the location. The company established two mining sites in Uruguay’s Florida department. Each required an estimated $60 million investment and together represented one of Tether’s largest early moves in South American mining.
However, as mining operations ramped up, conflicts emerged over electricity supply allowances. Tether believed its agreement with the state-run utility UTE allowed for scalable power supplies, while UTE insisted the contract strictly capped power delivery to the Microfin-operated sites, Tether’s local partner. As the facilities sought more electricity to meet rising mining demands, UTE refused, leaving the operations unable to sustain full productivity.
Internal documents show the dispute intensified by November 2024, leading to extended periods of insufficient power. Production suffered, and the sites became increasingly unprofitable as a result.
Failed negotiations and contract terminationNegotiations between Microfin and UTE escalated following a government change in March 2025. With new leadership at UTE, the electricity provider adopted a firm stance, resisting amendments to the original agreement. Microfin eventually stopped paying electricity bills and notified UTE of its intention to terminate existing contracts. Efforts to salvage the venture through a renegotiated agreement and a memorandum of understanding collapsed when Tether representatives declined to attend the contract signing.
On July 25, UTE cut power to the mining sites after payments lapsed and no new deal was reached. Microfin then informed labor authorities of plans to cease mining activities and lay off staff. Outstanding debts to UTE were settled later in December, but the facilities never resumed operations.
Tether’s efforts to expand its mining presence in South America have been set back by regulatory challenges and unfavorable energy economics in Uruguay, with lasting implications for its regional ambitions.
Shifts in Bitcoin mining economicsTether viewed Uruguay as a strategic entry point for broader mining expansion into the continent, including future projects in Brazil, Paraguay, and Argentina. The company highlighted Uruguay’s predominantly renewable energy mix and robust infrastructure as strengths, aiming to refine its operational model before scaling to neighboring countries.
Yet, rising electricity costs and stricter supply contracts have diminished Uruguay’s appeal for Bitcoin mining, especially after Bitcoin’s April 2024 halving event reduced block rewards and squeezed profit margins. Declining crypto market valuations and increasing operational expenses have further impacted miners worldwide.
Despite the setbacks in Uruguay, Tether continues to invest in mining, renewable energy ventures, and software platforms. The company has shifted its focus to new mining operations in Brazil and released open-source tools for mining management. Some mining companies are also moving infrastructure to artificial intelligence and high-performance computing as Bitcoin mining profitability declines.
Mini dictionary: Tether, a company based in the British Virgin Islands, is the issuer of USDT—the most widely used stablecoin in global crypto markets. The firm is a major player in digital asset infrastructure and has recently expanded into energy and mining sectors.
CountryMining CostsMajor Energy SourceUruguayHigher (post-2024)Renewable (wind, solar, hydro)BrazilLower potentialMixed (renewable, hydro)ParaguayLowerHydroelectricDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
CEO Bitget Gracy Chen nečeká, že by USA do konce Trumpova mandátu nakoupily Bitcoin na otevřeném trhu. Strategická rezerva má být tvořena jen zabaveným nebo propadlým Bitcoinem.
The US government’s Strategic Bitcoin Reserve is looking more like a trophy case than a war chest. Bitget CEO Gracy Chen has said she does not expect Washington to make any open-market Bitcoin purchases before the end of President Donald Trump’s current term.
That view is grounded in how the reserve was actually built. The executive order establishing it, signed on March 6, 2025, explicitly limits the reserve to Bitcoin seized or forfeited through criminal and civil asset proceedings. No taxpayer money goes in. No market orders get placed.
What the reserve actually is The US holds a substantial amount of Bitcoin accumulated through law enforcement actions, and the executive order simply formalizes the decision to keep it rather than sell it.
The order also prohibits the government from selling its holdings, which creates an interesting one-way door. Bitcoin goes in when courts rule against defendants. It does not come back out.
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As of mid-2026, no additional Bitcoin has been acquired through any purchase mechanism, and the administrative focus has stayed on building the legal and custodial infrastructure needed to manage existing holdings. Treasury Secretary Scott Bessent has voiced support for Bitcoin as a strategic asset but has stopped well short of announcing any acquisition plans.
Administration officials have privately acknowledged the reserve’s limited scale, describing its current importance as largely symbolic.
Why Chen’s read matters Gracy Chen runs one of the larger centralized crypto exchanges by trading volume. Her skepticism about near-term purchases aligns with what the executive order’s text actually says, rather than what Bitcoin advocates hoped it might eventually enable.
When the executive order dropped in March 2025, some corners of the crypto market priced in the possibility that government purchasing would follow. It has not.
Chen’s comment that purchases are unlikely before Trump’s term ends resets that expectation more explicitly. The term concludes in January 2029, and the implication is that even within a four-year window friendly to Bitcoin, the structural constraints of the current order make large-scale acquisition a low-probability event.
Open-market purchases would require Congressional authorization, budget allocation, and a public debate about using taxpayer funds to buy a volatile digital asset. None of those conversations have gained serious legislative traction.
What this means for the market The prohibition on sales does remove some supply-side uncertainty. Bitcoin held in the reserve stays there, reducing the risk that a future administration could liquidate holdings and depress prices.
Several proposals have circulated on Capitol Hill that would authorize direct purchases, funded through mechanisms that avoid direct taxpayer exposure. None have cleared committee as of mid-2026.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Spotový Ethereum ETF v USA přilákal více než 221 milionů USD, z toho 219 milionů USD tvořil čistý příliv, a prodloužil sérii na čtyři obchodní dny. ETH se zároveň drží nad 2 300 USD.
Ethereum ETF Pulls $221M as ETH Eyes Another Breakout
Ahmed Barakat
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Aug 2025
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Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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Ethereum is back in the spotlight after U.S. spot Ethereum ETF pulled more than $220 million in fresh capital on August 20. The funds recorded more $219 million in net inflows, extending their winning streak to four consecutive trading days. BlackRock’s ETHA once again dominated the session with about $173 million in inflows.
That puts the August 20 flow above the $189.15 million recorded one day earlier. The back to back inflows suggest institutional demand has not slowed after Ethereum’s sharp recovery.
Ethereum ETF Flows, CoinglassETH is also surging above the $2,300 level. CoinGecko data shows Ethereum trading around the $2,360 area in recent market data, with its market cap remaining above $270 billion.
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BlackRock Ethereum ETF Is Doing the Heavy LiftingBlackRock’s ETHA accounted for roughly $173 million of the August 20 inflows. That was followed by BlackRock’s ETHB with about $35.9 million, while Fidelity’s FETH added $5.8 million.
Bitwise’s ETHW brought in around $2.8 million. VanEck’s ETHV added another $1.7 million. The remaining products recorded either smaller flows or no meaningful change during the session.
Biggest ETF Day Since May, BTC Back Above $70K
Aug 19 BTC & ETH ETF Net Flows: +$684.4M
Three straight inflow days, +$1.08B combined. BTC now trades
at $71,653, up 9.7% in 24 hours and back above $70K for the
first time since early June.
— CoinMarketCap (@CoinMarketCap) August 20, 2026 The result is important because it came immediately after the $189 million inflow recorded on August 19. That earlier session had already been described as Ethereum’s strongest single day since October 2025.
As of now, August is shaping up as a major turnaround for Ethereum ETF. The funds had struggled through May and June, when combined net outflows exceeded $1 billion.
The money is moving in the opposite direction. Ethereum ETFs have posted several consecutive positive sessions while ETH has reclaimed levels that looked out of reach during the recent weakness.
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ETH Price Has Another CatalystEthereum price action is giving the ETF numbers even more weight as it jumped sharply during the recent move, reaching above $2,300 and briefly trading near $2,400.
The token’s recovery also came with a sharp improvement in sentiment. Ethereum is now testing whether the $2,300 area can turn into support rather than another temporary stop. That matters because ETF demand is becoming increasingly difficult to ignore. Four straight days of inflows means institutions are adding exposure while ETH is already trading significantly above its recent lows.
There is another supply signal worth watching. Santiment data previously showed exchange held ETH falling from roughly 7.70 million coins on June 2 to 6.54 million on August 18. That represents a decline of around 15% over 11 weeks.
Fewer ETH sitting on exchanges can reduce immediately available selling supply. Combined with stronger ETF demand, that creates an interesting setup if buying pressure continues.
The big question now is whether Ethereum can turn this ETF momentum into a sustained breakout as the $2,400 area is the next obvious test. If ETH clears it decisively while ETF inflows remain strong, the market could start looking toward the next major resistance levels.
For now, the message from Wall Street is getting louder: institutions are buying the dip, and Ethereum is listening.
Discover: The Best Crypto to Diversify Your Portfolio
Aligned uvedl $ALIGN, nativní token svého full-stack Ethereum ekosystému, a uvedl ho na hlavní burzy. Token má pevnou nabídku 10 miliard a při spuštění bylo v oběhu asi 16 %.
Aligned allows fintechs and institutions to build financial products on Ethereum, with one-click solutions for wallets, rollups, interoperability, and zero-knowledge services.
Today, Aligned, a full-stack Ethereum infrastructure project, has launched $ALIGN*, the native token of its ecosystem, with listings on major exchanges. Aligned is working to turn Ethereum into the world’s financial backend, and its ecosystem is the single integration fintechs, institutions, and enterprises use to build financial products on Ethereum.
Less than one percent of the world’s assets are onchain, and most of what has moved sits on Ethereum as stablecoins, tokenized treasuries, and wrapped assets. Building on top of them is still harder than it should be. A fintech going onchain usually signs with multiple vendors, one for wallets, another for scalability solutions (including rollups and proving systems), then spends months wiring them together and keeping them in sync. There is no standard way to ship a financial product on Ethereum yet.
Aligned was built to fix that. It’s built in close collaboration with LambdaClass, a company behind key contributions across the Ethereum ecosystem, including work on Starknet, zkSync, Polygon Miden, and EigenCloud (formerly EigenLayer), as well as Ethrex (the execution client which powers Aligned’s Rollup-as-a-Service) and lambdaworks, a cryptography library written in Rust. By integrating with Aligned, users can access wallets, rollups, interoperability, and zero-knowledge services through a single stack.
Aligned ships the stack one piece at a time:
Proof Aggregation Service: live on mainnet alpha. Batching the proofs a rollup generates so verification stays cheap as Ethereum scales. Wallet-as-a-Service: MVP already launched. Users sign in with Google or Face ID and get a real Ethereum wallet, with no seed phrases, extensions, or gas fees. Rollup-as-a-Service, the LambdaVM, and the interoperability protocol: in development. The LambdaVM is Aligned’s RISC-V zkVM (zero-knowledge virtual machine), built in collaboration with LambdaClass and 3MI Labs. Each ships as it’s ready. The world’s assets are moving onto Ethereum, and Aligned is creating the stack that makes it easy to build on. In the future, $ALIGN will be available as an option to pay for the services across that stack, from Proof Aggregation to Wallet-as-a-Service. As more teams build on Aligned, it will be the asset they use to pay for that usage. It is a utility token. It is not equity, a share, or a claim on revenue or dividends, and it does not promise a yield or a price.
$ALIGN has a fixed supply of 10 billion tokens, with about 16% circulating at launch. The full allocation and the Genesis airdrop are laid out in the ALIGN tokenomics. The airdrop was distributed across several waves spanning developers and researchers, the Discord and Galxe communities, distinguished contributors to Ethereum and ZK such as Protocol Guild, L2BEAT, ZachXBT, and ZK Podcast, and holders of ecosystem tokens including Starknet, Mina, zkSync, Polygon, Scroll, Taiko, and EigenCloud.
Aligned is committed to Ethereum by choice, focusing all of its efforts on it. Through the rest of the year, the team plans to ship the remaining pieces of the stack and grow the number of products built on it. The longer-term goal is to make building a financial product on Ethereum a single decision, not a systems-integration project.
Check eligibility and follow the launch at community.alignedlayer.com. To hear more, read the ALIGN tokenomics at blog.alignedlayer.com and follow @alignedlayer.
About Aligned
Aligned builds the tools that turn Ethereum into the world’s financial backend. It gives fintechs, institutions, and enterprises one integration for wallets, rollups, interoperability, and zero-knowledge services, so they can build real financial products on Ethereum instead of assembling a stack from separate vendors. Users can learn more at alignedlayer.com.
*$ALIGN is the native asset of the Aligned ecosystem, built on Ethereum as an ERC-20 token and also available on Base, with a fixed total supply of 10 billion and an initial circulating supply equal to approximately 16% of the total token supply. It will be used across the Aligned stack. $ALIGN is not equity, a share, or a claim on revenue or dividends. This announcement is informational only and is not financial advice. Do your own research.
Spotové Ethereum ETF v USA přilákaly čistý příliv 220,77 milionu USD, nejvíce za jediný den od konce října. ETH zároveň vystoupal nad 2 430 USD a míří k rezistenci na úrovni 2 500 USD.
Ethereum’s price extended its strong rebound on Friday, rising above $2,430 for the first time in nearly four months. This rally was supported by renewed institutional demand and notable movements of ETH by large holders on and off cryptocurrency exchanges.
Institutional flows and ETF inflows boost sentimentETH gained approximately 29% in the past week, reflecting a broader trend of recovery seen across the cryptocurrency market. Alongside Ethereum’s gains, Bitcoin briefly crossed $79,000 as investor appetite for digital assets improved.
US spot Ethereum exchange-traded funds (ETFs) recorded significant demand. According to market data provider SoSoValue, US-listed spot Ethereum ETFs attracted a net inflow of $220.77 million on August 20. This represented the highest single-day inflow for these products since October 28, 2025.
Combined inflows into these funds totaled $512.25 million over the past four sessions. Assets managed by US Ethereum ETFs increased to $13.58 billion, the highest amount since May 11. Cumulative net inflows in these products reached $11.97 billion as institutional participation showed continued strength.
US spot Ethereum ETFs attracted $220.77 million of net inflows on August 20, marking their strongest daily result since late October and extending a four-day positive streak.
Earlier in the year, institutional demand for Ethereum weakened as price declines led to significant outflows from ETF portfolios. The recent turnaround has prompted renewed optimism within the sector.
Mini dictionary: SoSoValue, an analytics platform specializing in tracking ETF flows and on-chain data for major cryptocurrencies, provides detailed daily reports for institutional and retail investors.
Whale activity highlights mixed signalsOn-chain activity shows a divided approach among major ETH holders, also known as whales. Blockchain analyst Lookonchain reported that wallet 0x2d59 withdrew 30,000 ETH, valued at $67.42 million, from Binance. Over the last three weeks, the same address has removed 120,000 ETH worth about $237.7 million from the platform.
Abraxas Capital, a London-based investment firm, withdrew 18,000 ETH worth $39.56 million, while a newly created address moved 6,704 ETH, approximately $14 million, out of Binance. Withdrawals of this scale are often seen as a signal of reduced short-term selling pressure, as coins move into private storage rather than remaining available for quick sale.
Simultaneously, some large investors took the opportunity to sell at higher prices. Lookonchain tracked a group called 7 Siblings selling 14,000 ETH for $32.85 million at an average price of $2,346. Another address converted 11,252 stETH and 1,824 ETH into 30.78 million USDT. In addition, a separate whale is reported to have realized $1.76 million in profit after selling 5,250 ETH.
Large exchange withdrawals by entities like wallet 0x2d59 and Abraxas Capital suggest that whales remain actively involved in Ethereum’s supply dynamics, even as profit-taking emerges around resistance levels.
With Ethereum approaching the key $2,500 resistance zone, inflows into ETFs and the steady removal of coins from exchanges point to enduring institutional interest. However, a simultaneous wave of profit realization among major holders introduces a note of caution as ETH faces critical price levels.
Whale/EntityAmount of ETHUSD ValueActionwallet 0x2d5930,000$67.42 millionWithdraw from BinanceAbraxas Capital18,000$39.56 millionWithdraw from Binance7 Siblings14,000$32.85 millionSold at $2,346 avg.Other wallet (stETH + ETH)13,076$30.78 millionConverted to USDTDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum předstihl XRP Ledger v nabídce RLUSD: na Ethereum je 989,34 milionu dolarů, na XRP Ledger 941,36 milionu. Celková oběhová nabídka RLUSD dosáhla 1,939 miliardy dolarů, což je rekord.
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.
According to the Ripple stablecoin tracker website, Ethereum has now overtaken the XRP Ledger in RLUSD supply.
Based on current data supplied by the page, RLUSD circulating supply on the XRP Ledger is now $941.36 million, which has been surpassed by that of Ethereum, which is $989.34 million.
The change comes as Ripple continues to adjust RLUSD liquidity across its supported blockchain networks. Specifically, the last 24 hours have seen more RLUSD minted on Ethereum than on the XRP ledger, with larger activity in favor of the former (Ethereum).
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On August 20, $73.8 million RLUSD was minted on ethereum with $23.5 million burned. On August 21 so far, $53.2 million RLUSD was minted on Ethereum with $15 million burned.
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This surpasses XRP Ledger, which saw $36.1 million RLUSD minted on August 20 and $15.4 million RLUSD burned in this timeframe. So far on August 21, $12.5 million RLUSD was minted on the XRPL and $6.5 million burned.
Ripple stablecoin tracker X account details some of these transactions over the last 24 hours.
In recent hours, two transactions of 25,000,000 RLUSD and 20,000,000 RLUSD minted on Ethereum were reported, while 10,000,000 RLUSD was burned on the blockchain. One transaction of 10,000,000 RLUSD minted on XRP Ledger was reported. Another three transactions of 20,000,000 RLUSD, 14,000,000 RLUSD and 16,000,000 RLUSD minted on Ethereum were reported within the last 24 hours.
RLUSD nears $2 billion in circulating supplyWith the ongoing activity, the RLUSD total circulating supply is fast approaching the $2 billion milestone, currently at $1.93 billion according to the Ripple stablecoin tracker page. The current figure of $1.939 billion in total circulating supply marks an all-time high for the Ripple USD (RLUSD) stablecoin, which launched in December 2024.
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RLUSD was launched with support for both the XRP Ledger and Ethereum, allowing its access across two major networks.
In June, the XRP Ledger surpassed the Ethereum blockchain in RLUSD circulating supply for the first time. Now, a recent supply shift has flipped this tide, and the XRP community is watching what comes next.
Ethereum se dostalo nad 2 300 USD, když za zhruba deset týdnů zmizelo z burz 1,15 milionu ETH. Současně americké spotové ETF přilákaly za 24 hodin 189,15 milionu USD.
Ethereum reserves are depleting on centralized exchanges at an unprecedented rate. A potential supply shock is emerging behind this contraction. This scenario is certainly fueled by the massive movement of tokens towards long-term holding as well as the return of institutional investors. Such a reduction is amplified by buybacks through ETFs and various corporate treasury strategies. However, the U.S. administration is sending new signals to the crypto market. The increase in institutional capital combined with ETH scarcity creates a situation where the balance between supply and demand could tighten.
In Brief The massive evacuation of 1.15 million Ethereum off trading platforms over eleven weeks reflects an unprecedented drying up of liquid stocks in the centralized market. This flight to long-term holding is explained by increased locking in staking protocols and strategic accumulation by corporate treasuries. Meanwhile, institutional demand has sharply rebounded with a record inflow of $189.15 million recorded on U.S. Spot ETFs in one day. This mechanical tightening of supply and investor appetite are now supported by encouraging political signals from Washington regarding crypto regulatory frameworks. The sharp contraction of reserves on trading platforms A notable difference between Ethereum and the rest of the market is noticeable through on-chain data. ETH reserves available on exchanges have drastically and sustainably decreased according to recent analyses published by the Santiment platform. Indeed, volumes fell from 7.70 million tokens on June 2 to around 6.54 million on August 18. In about ten weeks, 1.15 million tokens exited, representing a 15% contraction in the immediately tradable supply on exchange platforms.
Unlike Bitcoin, whose reserves grew by 1.8% or about 23,000 BTC sent back to exchanges, ETH balances dropped by 2.2% between July 28 and August 18. Under such conditions, the price of Ethereum exploded nearly 20% in 24 hours, surpassing the $2,300 threshold for the first time since May.
Hence, the real structure of the spot market undergoes a change given this liquidity outflow. The vertiginous contraction of available reserves on various order books drastically increases the market depth available for absorbing large sell orders. Thus, this token reduction increases price sensitivity to even the slightest acquisition surge via the creation of an imbalance between the immediately accessible supply and demand. The progressive decline of stocks on exchanges is the technical catalyst for the current rise, contributing to the drying up of structural selling pressure.
This withdrawal movement from exchanges can be explained by several important statistical data observed over recent days :
A decrease of 1.15 million ETH in exchange reserves between June 2 and August 18, equivalent to a 15% drop in liquid supply ; An additional 2.2% slide in ETH balances on platforms between July 28 and August 18, compared to a 1.8% increase for Bitcoin ; A spectacular price rise exceeding $2,300, driven by a nearly 20% jump in 24 hours. Long-term placement of Ethereum tokens in staking and treasuries Massive long-term accumulation and the strategic locking of tokens outside speculative circuits explain this liquidity outflow. According to analysts from the Santiment platform, staking on the Ethereum blockchain is observed at very high levels. This contributes to withdrawing a significant portion of issued tokens from circulation. Additionally, corporate treasuries are simultaneously expanding their grasp on the crypto. The company BitMine Immersion Technologies alone holds 5,815,164 ETH tokens, about 5% of the total circulating supply. The vast majority of these holdings are directly injected into the validation protocol.
The very nature of the crypto is undergoing transformation due to this colossal shift towards immobilization mechanisms. Thus, the combined involvement of institutional investors and companies in the staking process contributes to locking in capital long-term, which mechanically reduces currency velocity. Ethereum is then progressively sliding from a high-frequency trading instrument status to that of a yield-generating reserve asset, reinforcing token conservation by their owners.
The catalyst of institutional capital and U.S. policy In addition to the supply-specific movement, this increase rests on a significant recovery of incoming financial flows through U.S. ETFs. Indeed, Ethereum ETFs based in the United States accumulated $189.15 million in 24 hours on August 19. This is their strongest daily accumulation since October 28, 2025, bringing this August’s total to over $534 million. Additionally, BlackRock’s ETHA fund boosted this impulse with $122 million injected last Tuesday. Fidelity is second with $36.5 million, followed by Grayscale Mini ETH with $16.04 million, BlackRock’s staking ETF with $9.71 million, Morgan Stanley MSSE with $2.25 million, and Franklin Templeton EZET with $790,000.
Such a resurgence of confidence fits within a regulatory environment deeply changing from Washington. President Donald Trump met this Wednesday at the White House with crypto ecosystem actors such as the leaders of Coinbase, Ripple, and Gemini. Discussions focused on the CLARITY Act. The U.S. executive head urged Congress to adopt a fair version of this bill to help the United States stay ahead against China. He also revealed talks on acquiring large quantities of bitcoins and other cryptos.
The combined result of supply reduction and a healthier regulatory framework produces a particular market structure. While reserve contraction limits immediate liquidation risks, the sustainability of this dynamic will depend on the materialization of legislative promises in Washington and the steadiness of ETF flows.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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DOGE za posledních 24 hodin vzrostl o 10 % na zhruba 0,078 USD a denní objem obchodů vyskočil 3,5× na asi 1,28 miliardy USD. Růst podpořil širší comeback memecoinů.
Key Highlights DOGE price climbed 10% over the past 24 hours while daily trading volume exploded 3.5x to approximately $1.28 billion. The memecoin market segment expanded by more than 5.37%, with PEPE rallying 19% and SHIB posting 10% gains. Open Interest in DOGE futures increased to 17.21 billion tokens from 16.87 billion one day prior. Dogecoin integration with Paxos infrastructure opens doors to PayPal and Venmo users for expanded payment utility. Critical resistance stands at the $0.080 supply zone — breaking through could indicate a potential trend reversal. Dogecoin (DOGE) experienced a 10% price surge over the past day, reaching approximately $0.078 as of this writing. This upward movement coincided with a wider memecoin market rally that propelled PEPE 19% higher and pushed Shiba Inu up by 10%.
Dogecoin (DOGE) Price The overall memecoin sector saw its market capitalization increase by over 5.37%, accompanied by a 189% spike in trading volume to roughly $4.14 billion. Dogecoin dominated activity levels, recording daily volume of approximately $1.28 billion — representing more than half its weekly volume compressed into one trading session.
Source: Token Terminal A contributing factor to this price movement was the U.S. Treasury’s announcement to double its long-term bond repurchase program. This action introduced additional liquidity into financial markets while simultaneously pressuring the dollar lower, creating favorable conditions for dollar-denominated cryptocurrencies like DOGE.
The cryptocurrency Fear & Greed Index advanced from 46 to 62, entering firmly into “Greed” territory. During this same timeframe, Bitcoin surpassed $70,000 while Ethereum climbed above $2,200.
In derivatives markets, Open Interest for perpetual futures contracts expanded to 17.21 billion DOGE, rising from 16.87 billion the previous day. Funding rates have maintained positive territory since August 5, indicating that bulls continue paying premiums to maintain long positions.
Payment Integration Provides Additional Momentum DOGE recently secured integration with the Paxos network, which powers payment infrastructure for PayPal and Venmo. This development potentially exposes Dogecoin to millions of active users across both platforms.
🚨 BREAKING NEWS 🚨 $DOGE gains access to Paxos network used by @PayPal & @Venmo
This is bigger than a headline. Access to the Paxos network could give $DOGE more exposure to payment infrastructure already connected to platforms like PayPal and Venmo.
More rails = easier…
— 𝐓𝐎𝐏 𝐃𝐎𝐆𝐄 (@TOPDOGE007) August 20, 2026
However, despite positive price movement, DOGE Spot ETFs have recorded zero inflows following a net outflow of $564K on August 13. Institutional engagement remains minimal at this stage.
Market analyst chad (@chad_ventures) observed on X that each rebound attempt during the ongoing downtrend — which initiated with a “South Star” signal at $0.185 — has been rejected at the resistance band. He highlighted that a fresh “Meridian North Star” has appeared, and emphasized that the critical question is whether price can successfully break and sustain above that resistance band. According to chad’s analysis, this level will ultimately determine if a genuine trend reversal is underway.
$DOGE this is important here.
Every bounce during this downtrend (first indicated by the South Star at $0.185) got rejected at the resistance band.
A new Meridian North Star has just been printed.
The key question now: Does price break and hold above the resistance band this… pic.twitter.com/i4oors7HJF
— chad. (@chad_ventures) August 20, 2026
Technical Analysis Breakdown From a technical perspective, DOGE has broken through a significant trendline that had been in place since May and successfully cleared a 4-hour resistance trendline. The daily chart RSI registers at 69, approaching overbought conditions. The MACD histogram continues showing positive momentum.
The 100-day EMA positioned at $0.080 represents the immediate resistance barrier. On the downside, the 50-day EMA at $0.074 combined with SuperTrend support at $0.069 establish a demand zone.
The subsequent supply zone above current trading levels remains intact. DOGE’s ability to convert that resistance level into support will ultimately determine whether this rally has sustainable momentum.
Cardano sází na Hydra a Ouroboros Leios, aby zrychlilo síť a podpořilo širší adopci. Input Output Global chce na vývoj Leios vyčlenit 27,7 milionu ADA.
The crypto sector is still looking to make the blockchain simpler and more useful on a daily basis. In this dynamic, Cardano aims to take a new step by expanding its user base on a global scale. Input Output Global bets on concrete applications, better scalability, and a more accessible experience. The goal is clear: to bring cryptocurrencies closer to the general public while preparing the network to handle much more significant activity. Hydra and Ouroboros Leios thus become essential in this strategy. A vision focused on utility and accessibility
In Brief Cardano wants to expand its global adoption through more accessible applications. Hydra is now in the adoption phase to accelerate trading and micropayments. Ouroboros Leios aims to increase network throughput without sacrificing security. Input Output Global offers 27.7 million ADA to accelerate Leios development. The main challenge remains turning these technical advances into sustainable daily adoption. A vision focused on utility and accessibility Charles Hoskinson, founder of Cardano, believes that massive adoption comes through an evolution of the discourse on cryptocurrencies. According to him, their integration into daily uses can simplify financial operations while enhancing their security and privacy. This approach thus aims to make digital assets tools usable by billions of people around the world.
However, technical innovation alone is not enough. Hoskinson also emphasizes transparency and ease of use in interactions with the blockchain. The goal is therefore to reduce perceived complexity for the user, bringing crypto uses closer to more traditional financial practices.
This direction appears in the current roadmap. Cardano is notably working on scalability, digital identity solutions, and applications able to offer a smoother experience. The strategy thus aims to turn the underlying technology into a discreet, accessible infrastructure for everyday use, with simple and understandable paths for different user profiles.
Cardano accelerates with Hydra and Ouroboros Leios Scaling relies on Hydra and Ouroboros Leios. According to the report from Input Output Global, Hydra entered its adoption phase in February, after a testing period. This stage marks a shift towards concrete applications, with demonstrations by DeltaDeFi and Masumi in trading and micropayments.
These demonstrations show how Hydra can leverage higher throughput and reduced latency. For applications requiring rapid exchanges, these characteristics can facilitate more regular use of the network. The project therefore seeks to bring Cardano’s technical capabilities closer to the practical needs of users. The network must especially convert these performance gains into regular usage.
At the same time, Ouroboros Leios is expected to push scalability further. Input Output Global has proposed allocating 27.7 million ADA from the treasury to accelerate its development. This funding aims to support the preparation of a candidate release for the mainnet, with a gradual deployment aimed at increasing throughput without compromising security or decentralization.
Adoption remains the real test Technical advances open a new stage for Cardano, but they must produce real activity. The network must demonstrate that its infrastructures can attract users and support sustainable adoption. This phase thus shifts attention from research promises to more concrete indicators, while the network will need to measure progress through visible and lasting usage.
For ADA holders, improving infrastructure and scalability can strengthen the network’s fundamentals. However, success will mainly depend on the ability to turn technical work into visible daily use. Attracting a global base of new users will require an experience simple enough to go beyond the circle of users already familiar with the blockchain.
This evolution is also part of a broader movement toward financial services that are accessible directly from crypto wallets. The text notably highlights the rise of tokenized stocks, gold and silver, and price automation. This trend seeks to reduce some intermediaries and simplify asset management for both individuals and institutions.
The next step for Cardano will therefore depend on converting its technical advances into sustainable activity. Hydra and Ouroboros Leios must now support this transition to more concrete and accessible uses. One billion users remains a distant goal, whose achievement will depend mainly on real adoption, the experience offered, and the blockchain’s ability to absorb growing demand.
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Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
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Cardano Foundation se spojila s UNDP na třetím ročníku SDG Blockchain Acceleratoru, který propojuje blockchainová řešení s rozvojovými výzvami OSN. Přihlášky se otevřou v červenci 2026 a potrvají do 30. září 2026.
The Cardano Foundation is teaming up with the United Nations Development Programme’s Alternative Finance Lab to run the third cohort of its SDG Blockchain Accelerator, a program designed to match UN development challenges with blockchain-based solutions. Applications open in July 2026 and run through September 30, with an acceleration phase from October 2026 to February 2027.
Previous cohorts of the accelerator have produced 46 implementation-ready solutions, with 70% of them embedded in national or regional programs.
What the accelerator actually does The SDG Blockchain Accelerator connects teams building technology solutions with real development problems identified by UN agencies. Focus areas for the 2026 cohort include digital payments, identity management, supply chain traceability, and data privacy.
After the application window closes, selected teams enter a five-month acceleration phase where they build and refine solutions with direct input from UN development practitioners. Deployment and scaling follow after that window closes in February 2027.
One success story from earlier cohorts: Plastiks, a platform focused on verified plastic recovery, has run pilots with UNDP support in Armenia, El Salvador, India, and Zambia. The blockchain layer provides an auditable trail for waste recovery credits.
Cardano’s deepening UN relationship The Cardano Foundation became a founding member of the UNDP Blockchain Advisory Group on June 3, 2026, joining approximately 26 other organizations in the working group.
Through Project Catalyst, Cardano’s community-driven funding mechanism, the Foundation previously helped finance a UNDP blockchain report that featured multiple use cases built on the Cardano platform.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Stellar 20. srpna zaznamenal až 3,7 milionu transakcí a 124 270 aktivních uživatelů, což ukazuje na silnou on-chain aktivitu. TVL na síti zároveň vzrostl na 260,16 milionu USD, za 30 dní o 12,33 %.
On-Chain Activity Hits New Highs@StellarOrg recorded up to 3.7 million transactions on August 20, with 124,270 active users on the network that day, according to DefiLlama data. The figure reflects genuine on-chain activity rather than idle capacity, underscoring the network's growing utility as a payments and settlement layer.
$XLM is currently priced at $0.191, giving the token a market capitalisation of $6.58 billion. Daily on-chain fees came in at $1,216, while the 30-day average sits at $32,800, consistent with the network's longstanding design of keeping transaction costs minimal. Average fees on Stellar have stayed near $0.0001 per transaction, about one hundredth of a cent.
TVL Growth Points to Expanding DeFi FootprintTotal value locked on the Stellar network stands at $260.16 million, up 12.33% over the past 30 days. DEX volume reached $3.42 million over the last 24 hours, reflecting sustained trading demand across the network's decentralised exchange layer.
The TVL expansion fits a broader trend that has been building across 2026. Stellar's DeFi TVL reached a new all-time high in June 2026, surpassing $240 million. Much of that growth has been driven by real-world asset tokenisation. RWA market cap on Stellar, excluding stablecoins, climbed 91% quarter over quarter, from roughly $796 million at the end of 2025 to $1.52 billion at quarter-end, and later crossed $2 billion.
The network's stablecoin footprint has also expanded significantly. Stellar's stablecoin market cap increased 22% quarter over quarter from $244 million to $297 million, driven by USDC growth and the launch of SG-FORGE's EURCV on the network in March 2026.
On the institutional side, the Depository Trust and Clearing Corporation (DTCC), which clears and settles virtually every US securities transaction, announced on May 27, 2026, that it will bring DTC-custodied assets onto the Stellar network. The move is expected to bring Russell 1000 stocks, major ETFs, and US Treasuries onto the chain by the first half of 2027.
All on-chain statistics sourced from DefiLlama as of August 20, 2026.
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※ 두나무 주식회사 준법감시인 심사필 제25-0156호 (25.09.22~27.09.21)
Pi Network má reálnou infrastrukturu, ale klíčová partnerství zůstávají neověřená: PayPal PI v dokumentaci neuvádí a RoboPay nepotvrdil ani Pi Core Team. PI se přitom obchoduje kolem 0,09 USD.
Protocol 27 is the final planned upgrade. ESMA registered the whitepaper. But PayPal integration remains unconfirmed, RoboPay is disputed, and PI trades at a fraction of its peak. What is real and what is not.
Summary
Pi Network completed its mandatory Protocol 26 upgrade by Aug. 11, 2026, and has designated Protocol 27 as the “final planned upgrade,” signaling the end of the current development sequence. ESMA registered Pi’s MiCA whitepaper (entry 549, filed by PiBit Ltd), a disclosure step that does not constitute regulatory approval but opens a path toward EU compliance. Reports that PayPal added PI to its “Pay with Crypto” program remain unconfirmed. PayPal’s official documentation does not specifically list PI, and PayPal does not appear on Pi Network’s KYB verified business list. A RoboPay partnership announced on Aug. 5, 2026, claiming to enable PI payments for AI driven robot services, has not been confirmed by the Pi Core Team. PI trades near $0.09 with a market cap hovering around $1 billion, against a maximum supply of 100 billion tokens and a circulating supply of approximately 11 billion. Every few weeks, a headline declares that Pi Network has secured a partnership that will finally deliver the real world utility its community has been waiting for since the project launched in 2019. In August 2026 alone, reports emerged that PayPal had added PI to its merchant payment program and that RoboPay would integrate PI for AI driven robot service payments. Each announcement triggered a spike in social media activity and a brief uptick in trading volume.
Neither has been confirmed by the parties allegedly involved.
This pattern, in which ecosystem claims outrun verifiable facts, defines the central tension of Pi Network in 2026. The project has real infrastructure. Its protocol upgrades are genuine. Its ESMA whitepaper filing is a matter of public record. But the gap between what the network has built and what its community claims it has partnered with is wide enough to matter.
What the protocol upgrades actually changed Pi Network’s technical roadmap in 2026 centers on two mandatory upgrades: Protocol 26 and Protocol 27.
Protocol 26 carried a hard deadline of Aug. 11, 2026. All mainnet node operators were required to complete the upgrade or risk disconnection from the network. The upgrade enhanced contract security and state management, laying the groundwork for more complex smart contract interactions on the Pi blockchain.
NEW: Pi Network begins Protocol 26 Mainnet upgrade
The deadline for node operators is August 11 ahead of the final Protocol 27 release pic.twitter.com/F0E4Y95oWm
— crypto.news (@cryptodotnews) July 30, 2026 The Pi Core Team has designated Protocol 27 as the “final planned upgrade” in the current development sequence. That language is significant. It does not mean the network will stop evolving, but it signals that the foundational infrastructure layer is approaching a state the team considers stable enough to support sustained application development.
The node network itself has grown. Pi reports more than 421,000 active nodes, a figure that reflects the network’s distributed validator model. Validators on Pi do not stake tokens in the way Ethereum or Solana validators do. Instead, they run lightweight software that contributes to consensus through Pi’s adaptation of the Stellar Consensus Protocol.
The distinction matters for understanding Pi’s security model. The network trades the economic security guarantees of proof of stake (where validators risk capital) for a broader distribution model (where more participants run nodes at lower cost). Whether that trade off produces sufficient security for high value transactions remains an open question.
The ESMA whitepaper: what it means and what it does not In 2026, ESMA registered Pi Network’s MiCA whitepaper as entry 549 in its public registry. The filing was submitted by PiBit Ltd, the entity that appears to manage Pi’s European regulatory compliance.
MiCA, the Markets in Crypto Assets regulation, requires crypto asset issuers operating in the European Union to publish a whitepaper that meets specific disclosure standards. Registration of the whitepaper is a procedural step. It means ESMA has received the document and made it publicly available. It does not mean ESMA has reviewed the document for accuracy, endorsed the project, or granted any form of regulatory approval.
The distinction is critical because the Pi community has at times characterized the ESMA registration as an endorsement. It is not. It is closer to a filing requirement, similar to how a company files a prospectus with a securities regulator before the regulator reviews it.
That said, the filing is not trivial. Completing a MiCA compliant whitepaper requires legal and compliance work that many crypto projects have not undertaken. It positions Pi to operate within the EU regulatory framework if and when full authorization is granted. For a project that began as a mobile mining experiment with no clear regulatory strategy, the ESMA filing represents a genuine step forward.
The PayPal question In mid August 2026, reports circulated that PayPal had added PI to its “Pay with Crypto” program, which allows eligible U.S. merchants to accept cryptocurrency payments. The claim appeared in several crypto news outlets and spread rapidly through Pi community channels.
JUST IN: Pi Network releases Node version 0.6.2 with connectivity upgrades
The update arrives as operational mainnet apps reach 82 toward the 100 milestone pic.twitter.com/YwkxdWdwlm
— crypto.news (@cryptodotnews) August 16, 2026 The evidence does not support the claim as of this writing.
PayPal’s official documentation lists Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PayPal USD (PYUSD) as supported assets in its crypto payment program. PI is not on that list. PayPal has not issued a press release, blog post, or public statement confirming PI integration.
On the Pi side, PayPal does not appear on the KYB (Know Your Business) verified business list that Pi Network maintains. The KYB list is Pi’s own registry of businesses that have been verified to operate on its mainnet. If PayPal had completed a formal integration, a KYB listing would be expected.
The gap between the claim and the evidence is not unusual in crypto. Unconfirmed partnership reports are common, particularly for projects with large and active communities. But the pattern is worth noting because PayPal integration, if real, would be genuinely transformative for a token trading at $0.09. The fact that it remains unverified after more than a week of circulation suggests that the claim was at best premature and at worst fabricated.
RoboPay and the AI robotics narrative On Aug. 5, 2026, the Fabric Foundation announced that Pi Network had joined RoboPay as a payment partner. The stated purpose was to enable on chain payments for AI driven robot services and autonomous agent hiring, using PiRC2 smart contracts for recurring and automated settlements.
The announcement painted an ambitious picture: a future in which humans hire robotic services through programmable payment channels on the Pi blockchain. Instead of purchasing a robot, a user would purchase the outcome they need, with payment settled automatically through smart contracts.
The Pi Core Team has not confirmed the partnership.
This is the second high profile ecosystem claim in August 2026 that lacks official confirmation from Pi’s own team. The pattern raises a structural question about Pi’s ecosystem development model. Third party organizations announce integrations. The Pi community amplifies them. Pi’s core team remains silent. The result is a steady stream of partnership news that cannot be independently verified.
Whether the RoboPay integration is real, planned, or aspirational is unclear. What is clear is that the Pi Core Team’s silence does not help its community distinguish between confirmed partnerships and speculative announcements.
The tokenomics problem PI’s price action in 2026 tells a story that no partnership announcement has been able to change.
The token trades near $0.09, with a market cap hovering around $1 billion. Its 24 hour trading volume sits near $11.5 million, modest for a token in the top 60 by market cap. The most active trading pair is PI/USDT on OKX, with approximately $3.6 million in daily volume.
The deeper issue is supply. Pi has a maximum supply of 100 billion tokens, of which approximately 11 billion are currently in circulation. That means roughly 89% of the total supply has yet to enter the market. As locked tokens vest and new tokens are distributed through mining rewards, the circulating supply will continue to grow.
For PI to reach $1, a target that many community members have discussed publicly, the fully diluted market cap would need to exceed $100 billion. That would place Pi roughly in line with Ethereum’s current market cap. For a network with $11.5 million in daily trading volume, no confirmed major partnerships, and a token economy built on mobile phone mining, that valuation is difficult to justify on fundamentals alone.
The circulating supply dynamic also creates selling pressure. Each new batch of tokens that enters circulation represents potential sell orders from miners who have been accumulating PI since the project’s early days. Unless demand from new buyers matches or exceeds the rate of new supply, the price faces persistent downward pressure.
What the ecosystem actually looks like Strip away the unconfirmed partnerships and the picture that remains is simpler than the headlines suggest.
Pi Network has a working mainnet with more than 421,000 active nodes. It has completed two major protocol upgrades in 2026. It has filed a MiCA whitepaper with ESMA. It has an ecosystem directory where developers can build and list applications.
JUST IN: Pi Network details Launchpad model for project token launches
Proceeds from Pi go into a liquidity pool with the ecosystem token to bootstrap liquidity pic.twitter.com/88WRoCcNjM
— crypto.news (@cryptodotnews) July 30, 2026 The number of operational mainnet apps is growing but remains modest. Pi’s ecosystem directory includes applications ranging from payment tools to social platforms, but none has achieved the kind of adoption metrics (daily active users, transaction volume, revenue) that characterize successful decentralized applications on more mature blockchains.
The Pi Browser, which serves as the gateway to Web3 applications on the network, provides a curated entry point for users. The App Studio offers development tools for builders. But the developer ecosystem lacks the depth of tooling, documentation, and community support that Ethereum, Solana, or even newer chains like Sui and Aptos provide.
Pi’s differentiation has always been accessibility. Mining on a mobile phone, with no hardware costs and minimal technical knowledge required, created a user base that now numbers in the tens of millions. Whether that user base translates into an economically active network is the question that Protocol 27, the final planned upgrade, is supposed to answer.
What to watch The aftermath of the credibility gap will play out across several measurable indicators over the coming weeks and months.
Protocol 27 release timeline. This is designated as the final planned upgrade. Its contents and execution will signal whether the Pi Core Team believes the infrastructure layer is ready for sustained application development. PayPal’s official crypto asset list. If PI appears in PayPal’s next quarterly update to supported assets, the integration is real. If it does not, the community will need to reckon with another unconfirmed claim. KYB verified business count. Pi maintains its own registry of verified businesses. Growth in confirmed KYB listings, particularly from recognizable brands, would be a more reliable indicator of ecosystem adoption than third party partnership announcements. Circulating supply growth rate. The pace at which new PI enters circulation relative to trading volume will determine whether selling pressure continues to weigh on the price. ESMA review outcome. The whitepaper registration is a disclosure step. The next milestone is whether ESMA grants full authorization, which would allow Pi to operate as a regulated crypto asset within the EU. Is Pi Network’s PayPal integration confirmed? No. As of Aug. 20, 2026, PayPal’s official documentation does not list PI as a supported asset in its “Pay with Crypto” program. PayPal also does not appear on Pi Network’s KYB verified business list. The claim remains unverified.
What is Pi Network’s Protocol 27? Protocol 27 is designated by the Pi Core Team as the “final planned upgrade” in the current development sequence. It follows Protocol 26, which enhanced contract security and state management. Protocol 27’s full contents have not been publicly detailed.
What does ESMA registration mean for Pi Network? ESMA registered Pi’s MiCA whitepaper as entry 549, filed by PiBit Ltd. This is a disclosure step required under EU regulations. It does not constitute regulatory approval or endorsement of the project.
How many nodes does Pi Network have? Pi Network reports more than 421,000 active nodes. These nodes run lightweight consensus software based on Pi’s adaptation of the Stellar Consensus Protocol, rather than staking tokens.
Why is PI’s price near $0.09 despite a large user base? PI has a maximum supply of 100 billion tokens, of which approximately 11 billion are in circulation. The high maximum supply means that reaching $1 would require a fully diluted market cap exceeding $100 billion. Additionally, daily trading volume near $11.5 million is modest relative to the market cap.
Is the RoboPay partnership with Pi Network confirmed? The Fabric Foundation announced the partnership on Aug. 5, 2026, but the Pi Core Team has not confirmed it. This follows a pattern in which third parties announce integrations that Pi’s own team has not verified.
How does Pi Network’s consensus mechanism work? Pi uses an adaptation of the Stellar Consensus Protocol. Validators run lightweight software on mobile phones and computers to contribute to consensus. Unlike proof of stake networks, Pi validators do not stake tokens, trading economic security guarantees for broader participation.
What would it take for PI to reach $1? At a maximum supply of 100 billion tokens, PI at $1 would require a fully diluted market cap exceeding $100 billion. That would place Pi roughly in line with Ethereum’s current valuation, requiring a level of adoption, utility, and trading volume that the network has not yet achieved. This is educational analysis, not investment advice.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets carry substantial risk. Always conduct your own research before making any investment decisions. Published Aug. 21, 2026.
Ethereum za 20. srpna 2026 vyskočilo o 18 %, ale na Aave zůstává skryté riziko: 9 % pozic drží zhruba polovinu dluhu a průměrný health factor je jen 1,06.
The biggest single day ETH move in two years did not trigger the liquidation cascade. But the concentrated staking correlation trade on Aave is one bad day from unwinding.
Summary
Ethereum surged approximately 18% on Aug. 20, 2026, its strongest single day move since March 2024, climbing from roughly $1,920 to above $2,270 as trading volume jumped 402%. More than $1 billion in Ethereum short positions were liquidated across derivatives markets during the rally, contributing to a broader $3 billion crypto liquidation event. On Aave, the largest decentralized lending protocol with roughly $12.2 billion in total value locked, just 9% of positions carry approximately half of the platform’s total debt. These concentrated positions are built around a leveraged Ethereum staking correlation trade, using WETH debt against liquid staking collateral like weETH (42% of collateral), rsETH, and wstETH, with average health factors near 1.06 and debt to equity ratios near 10.7 times. An 8% to 9% discount in liquid staking wrapper prices relative to ETH could trigger on chain liquidations across hundreds of accounts, creating a cascade risk that the Aug. 20 rally obscured but did not eliminate. The number that matters from Aug. 20 is not 18%. It is 1.06.
Ethereum’s single day gain of roughly 18% dominated the headlines. Trading volume surged 402%. More than $1 billion in short positions were liquidated. The altcoin market cap crossed $1 trillion. By every surface metric, it was one of the strongest days for Ethereum in two years.
But underneath the rally, a structural vulnerability in decentralized lending sat untouched. On Aave, 9% of positions carry roughly half the protocol’s total debt. Those positions run at an average health factor of 1.06, a margin of safety so thin that an 8% to 9% move in the wrong direction could trigger a liquidation cascade on chain.
The rally did not test that vulnerability because ETH moved higher, not lower. The concentrated positions survived. But surviving is not the same as being safe.
The anatomy of the correlation trade To understand the risk, start with the trade itself.
Ethereum’s transition to proof of stake created a new asset class: liquid staking tokens. When a user stakes ETH through a protocol like Lido, Rocket Pool, or EtherFi, they receive a derivative token (wstETH, rETH, or weETH) that represents their staked position. These tokens are designed to trade at or near a 1:1 ratio with ETH, accruing staking rewards over time.
The correlation trade exploits the tight relationship between these wrapper tokens and ETH itself. A trader deposits liquid staking tokens as collateral on Aave, borrows WETH against them, stakes the borrowed WETH to create more liquid staking tokens, and repeats. Each loop adds leverage. The profit comes from the staking yield, which compounds with each layer of recursion.
On paper, the trade appears low risk. The collateral (liquid staking tokens) is correlated with the debt (WETH). As long as the wrapper tokens maintain their peg to ETH, the health factor remains stable. The borrower earns staking yield on every layer of collateral while paying borrowing costs on the WETH debt.
In practice, the risk is concentrated in the peg itself.
Where the leverage sits The data on Aave’s concentrated positions is specific enough to be alarming.
Just 9% of Aave positions hold approximately half the protocol’s total debt. The debt weighted loan to value across this cohort runs near 90%. Their average health factor sits at 1.06. Their debt to equity ratio is approximately 10.7 times.
The collateral backing these loans tells the story. Ethereum staking and restaking wrappers, including weETH, rsETH, and wstETH, make up about 66.2% of the collateral. weETH alone accounts for roughly 42%. WETH makes up about 73% of the group’s total debt.
Total stablecoins supplied on Aave stand at $8.98 billion, with $7.40 billion borrowed, producing a utilization rate of 82.46%. The protocol’s total value locked is approximately $12.2 billion.
The concentration is remarkable. A small number of highly leveraged positions, all running the same fundamental trade, hold enough debt to create systemic consequences if they unwind simultaneously.
What a depeg would look like A health factor of 1.06 means the collateral is worth 6% more than the minimum required to avoid liquidation. For these positions, that translates to a buffer of roughly 8% to 9% in wrapper discount before liquidations begin.
A wrapper discount occurs when a liquid staking token trades below its expected value relative to ETH. This can happen for several reasons: a rush to exit staking positions, a smart contract vulnerability in the staking protocol, a governance failure, or simply a market wide liquidity crunch that drives sellers to accept below peg prices.
Aave learned this lesson in March 2026. A stale risk oracle parameter led to approximately $26 to $27 million in wstETH liquidations. The incident was contained because it affected a single collateral type and the parameter was corrected quickly. But it revealed how oracle latency could interact with concentrated positions to produce outsized losses.
A broader depeg scenario would unfold differently. If weETH, which backs 42% of the concentrated cohort’s collateral, were to trade at a 10% discount to ETH, the health factors on hundreds of accounts would drop below 1.0 simultaneously. Aave’s liquidation mechanism would activate, selling wrapper tokens into a market that is already discounting them. The selling pressure from liquidations would widen the discount, triggering more liquidations.
This is the same feedback loop that operates in centralized derivatives markets during a short squeeze, but in reverse and on chain. Instead of forced buying pushing prices higher, forced selling pushes prices lower. And because the liquidated collateral is the same asset that is being discounted, the cascade feeds on itself.
JUST IN: Aave founder Stani Kulechov announces he is personally contributing 5,000 ETH to DeFi United as the team works nonstop to deliver the best outcome for users pic.twitter.com/CHhe0GlLFu
— crypto.news (@cryptodotnews) April 24, 2026 Why the rally masked the risk Ethereum’s 18% surge on Aug. 20 had the opposite effect on the concentrated Aave positions. Higher ETH prices improved health factors across the board. Wrapper tokens rallied in line with ETH, maintaining their pegs. The positions that sit at 1.06 health factor at current prices were temporarily safer.
But the rally also encouraged behavior that makes the eventual risk worse. When ETH prices rise, staking yields become more attractive in dollar terms. Traders have an incentive to add more layers of recursion to the correlation trade, increasing leverage. If the concentrated cohort added positions during or after the rally, the health factors may have returned to the same 1.06 level at higher absolute prices, meaning the dollar value at risk has increased even though the percentage buffer remains the same.
DeFi lending protocols do not have circuit breakers. There is no exchange operator to halt trading during extreme volatility. There is no margin call that gives a borrower time to add collateral. When the health factor drops below 1.0, liquidation is automatic and immediate. The speed of the cascade is limited only by block time and gas availability.
The rally was driven by macro catalysts including Treasury buybacks and a White House summit. If those catalysts fade and ETH retraces, the concentrated positions will be the first to feel the pressure.
The staking yield illusion The correlation trade is popular because the math looks compelling in normal conditions. Staking yields on Ethereum currently range from 3% to 5% annualized, depending on the protocol. At 10 times leverage, the effective yield on equity approaches 30% to 50% annualized, minus borrowing costs.
But this calculation assumes the wrapper peg holds perfectly. It assumes liquidity in the wrapper market remains sufficient to absorb large sales without price impact. And it assumes that no exogenous shock, whether a smart contract exploit, a regulatory action against a staking provider, or a sudden spike in ETH volatility, disrupts the correlation.
Each of these assumptions has been violated at least once in the history of liquid staking tokens. Lido’s stETH traded at a 7% discount to ETH during the Terra/Luna collapse in June 2022. Rocket Pool’s rETH briefly dipped below peg during the FTX contagion in November 2022. These dislocations were temporary, but they occurred during conditions when leveraged positions on the same tokens would have been liquidated.
The August 2026 rally created an opportunity for traders to take on more of this risk at what feel like higher prices and wider margins. Whether those margins are real or illusory depends entirely on what happens next.
Aave’s risk management response Aave is not unaware of the concentration risk. The protocol’s governance forum has discussed parameter adjustments to address the wstETH/weETH correlation trade, including reducing the loan to value ratio in E mode (the enhanced efficiency mode that allows higher leverage for correlated assets) and increasing liquidation incentives to attract faster liquidator participation during stress events.
The March 2026 incident, in which a stale oracle parameter caused $26 to $27 million in unintended liquidations, prompted a review of oracle update frequencies and fallback mechanisms. The protocol now runs multiple oracle sources for major collateral types.
But governance adjustments move slowly in DeFi. Proposals must pass through community discussion, snapshot votes, and on chain execution. The concentrated positions exist now. A parameter change that takes two weeks to implement offers no protection against a depeg event that unfolds in two hours.
The broader DeFi ecosystem faces the same challenge. Compound, Morpho, and other lending protocols have varying degrees of exposure to the same liquid staking correlation trade. If a depeg event triggers liquidations on Aave, the selling pressure would affect wrapper prices across all platforms simultaneously. Institutional custodians watching from the sidelines would have reason to reconsider their DeFi exposure calculations.
What to watch Wrapper discount thresholds. Track the price of weETH, wstETH, and rsETH relative to ETH on DEX aggregators. Any sustained discount above 3% is a warning sign. A discount above 8% would begin triggering liquidations on the concentrated Aave positions. Aave E mode parameter proposals. Governance proposals to reduce the loan to value ceiling in E mode for liquid staking collateral would force the concentrated cohort to reduce leverage. Track the Aave governance forum and snapshot voting page. ETH volatility after the rally. The 18% move was driven by macro catalysts. If those catalysts fade and ETH retraces, the concentrated positions will be tested. A 15% decline from current levels would bring ETH back to the pre rally range near $1,920, which could stress wrapper pegs. Liquidation bot capacity. On chain liquidation depends on bots that monitor health factors and submit liquidation transactions. If gas prices spike during a cascade, slower bots may fail to participate, reducing liquidation efficiency and increasing bad debt risk. Aave’s total stablecoin utilization rate. At 82.46%, utilization is already high. If it climbs above 90%, withdrawal liquidity shrinks and the protocol’s ability to absorb a cascade deteriorates. How much of Aave’s debt is concentrated in a small number of positions? Approximately 9% of Aave positions carry roughly half of the protocol’s total debt. These positions run at an average health factor of 1.06 with debt to equity ratios near 10.7 times.
What is the Ethereum staking correlation trade? Traders deposit liquid staking tokens (weETH, wstETH, rsETH) as collateral on Aave, borrow WETH against them, stake the borrowed WETH to create more liquid staking tokens, and repeat. Each loop increases leverage and staking yield exposure.
What would trigger liquidations on these positions? An 8% to 9% discount in liquid staking wrapper prices relative to ETH would push health factors below 1.0, triggering automatic on chain liquidations. A 10% depeg could flip hundreds of accounts below the danger threshold simultaneously.
Has a liquid staking depeg happened before? Yes. Lido’s stETH traded at a 7% discount during the Terra/Luna collapse in June 2022. Rocket Pool’s rETH briefly dipped below peg during the FTX contagion in November 2022. Both dislocations were temporary but would have triggered liquidations on leveraged positions.
What is Aave’s total value locked? Aave holds approximately $12.2 billion in total value locked as of August 2026, with $8.98 billion in stablecoins supplied and $7.40 billion borrowed, producing a utilization rate of 82.46%.
Why did the March 2026 Aave incident happen? A stale risk oracle parameter led to approximately $26 to $27 million in wstETH liquidations. The incident highlighted how oracle latency can interact with concentrated positions to produce unintended losses.
Does Aave have circuit breakers? No. DeFi lending protocols do not have the ability to halt trading or pause liquidations during extreme volatility. When a health factor drops below 1.0, liquidation is automatic and limited only by block time and gas availability.
How does Ethereum’s 18% rally affect the concentration risk? The rally temporarily improved health factors by pushing collateral values higher. However, it may also have encouraged traders to add leverage, potentially returning health factors to the same tight 1.06 level at higher dollar values, increasing the absolute amount at risk. This is educational analysis, not investment advice.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets and DeFi protocols carry substantial risk, including the risk of total loss. Always conduct your own research before making any investment decisions. Published Aug. 21, 2026.
Grayscale stáhla registrace pro plánované ETF navázané na Cardano (ADA), Polkadot (DOT) a Hedera (HBAR). Nešlo o odmítnutí ze strany SEC, ale o rozhodnutí firmy nepokračovat.
Grayscale Investments has withdrawn the registration statements for three proposed single-asset exchange-traded funds tied to Cardano’s ADA, Polkadot’s DOT and Hedera’s HBAR. The asset manager submitted three Form RW requests to the U.S. Securities and Exchange Commission on Aug. 7, telling the regulator it “does not intend to proceed with the planned distribution” of the trusts’ shares, according to the SEC filing.
The withdrawals were sponsor-initiated under Rule 477 of the Securities Act of 1933, not the result of a formal SEC rejection. Grayscale said no securities had been issued or sold under the registrations, which had not yet become effective.
Because Grayscale chose to pull the filings before the SEC reached a decision, the move signals a change in the firm’s product priorities rather than a regulatory defeat. Grayscale gave no detailed explanation in the filings, which simply stated that the sponsor no longer intends to proceed.
The S-1 registration statements had been filed in late August and early September 2025 amid a broad wave of altcoin ETF applications. All three underlying tokens have fallen sharply since then, with DOT down the most on a year-to-date basis.
The broader altcoin ETF retreat The withdrawals are part of a wider cooling in the single-asset altcoin ETF category. Bitwise earlier withdrew a registration for a proposed Bitcoin and Ethereum ETF, and competition for inflows into smaller altcoin funds has intensified. Year to date, ADA has fallen more than 41%, DOT has lost about 54% and HBAR has shed roughly 35%, according to market data cited in coverage of the withdrawals.
Grayscale continues to operate a portfolio of roughly 17 ETF products, including its Bitcoin Mini Trust and Ethereum Staking Mini ETF.
What it means for the pipeline Dropping three altcoin funds narrows Grayscale’s proposed single-token pipeline and reflects a more selective approach to products whose demand has not matched the filings made a year ago. For issuers, the retreat suggests the next wave of ETF filings will favor assets with clearer institutional demand rather than breadth for its own sake. The firm can re-file if market conditions change.
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A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities
