Track market-moving stories before they get noisy

Bitcoin (BTC) is correcting below $79,000 on Monday, mirroring the broader cryptocurrency market’s lethargic, bearish-shifting outlook. The Crypto King was rejected near $81,500 last Thursday, suggesting investor exhaustion.

Meanwhile, Gold (XAU/USD) remains pressed against the near-term $4,400 support, as focus shifts to the upcoming United States (US) Consumer Price Index (CPI) data on Friday. Investors are currently pricing in 60% odds that the Federal Reserve (Fed) will adopt a stricter monetary policy, raising interest rates in the 3.75%-4.00% range.

US-Iran exchange strikes, weighing on Bitcoin and GoldOver the weekend, the US military struck three Iran-linked oil tankers in the Gulf of Oman, reportedly disabling two and destroying the third. In retaliation, Iran targeted three US-affiliated vessels and three additional oil tankers attempting to transit the Strait of Hormuz.

Tehran also announced plans to declare a restricted zone near the strait and to unveil a new shipping route with Oman in the coming days. The exclusion zone will be used to stop shipping vessels attempting to transit through the strait without Iranian permission.

West Texas Intermediate (WTI) Crude Oil has risen above $90.00 on Monday, suggesting renewed tensions between the two nations could continue to intensify price pressures.

WTI Oil price chartTechnical analysis: Bitcoin slips despite bullish outlookBitcoin trades at $78,704, maintaining a constructive bullish bias as price stays well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), suggesting a firmly supported medium-term uptrend despite the latest pullback from recent highs.

The Relative Strength Index (RSI) at 61 stays in positive territory, hinting that buyers still retain control even as momentum cools from overbought extremes, while the negative drift in the Moving Average Convergence Divergence (MACD) line below its signal and toward the zero line warns of easing upside pressure in the near term.

BTC/USDT daily chartInitial support lies near $72,708, where the 200-day EMA converges with the broader trend floor, followed by the 50-day EMA around $72,044, which reinforces a deeper but still corrective setback within the broader bullish structure.

A more pronounced decline would expose the 100-day EMA at $70,255 as the next key cushion, where dip-buying interest could re-emerge if sentiment remains broadly constructive. As long as price holds above this EMA stack, the path of least resistance is likely to remain to the upside, with any fresh highs above current levels needed to re-energize the bullish leg.

Gold technical outlook: XAU presses against key supportGold trades at $4,412 and holds above the 50-day, 100-day and 200-day EMAs, which cluster between roughly $4,318 and $4,368 and suggest the broader uptrend remains supported despite the recent pullback.

The RSI at about 51 is neutral to slightly positive, while the MACD sits in negative territory with its recent downturn hinting that bullish momentum is still fragile.

XAU/USDT daily chartInitial resistance lies at the next psychological level at $4,500, followed by the downward resistance trendline, with its latest break reference near $4,528. A sustained move above this barrier would reopen the way toward higher highs. On the downside, immediate support is seen at the 100-day EMA around $4,368, followed by the 50-day EMA near $4,349 and then the 200-day EMA at about $4,318, where buyers would be expected to defend the prevailing bullish structure.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

Key Highlights Bitcoin has surged approximately 30% from its recent bottom, now approaching the critical $82,800 resistance threshold Coinbase achieved an unprecedented 10.3% market share of worldwide cryptocurrency trading activity during Q2 Circle’s USDC stablecoin circulation expanded to $73.3 billion, representing a 19% annual increase Robinhood delivered exceptional Q2 performance with $1.31 billion in revenue, marking a 32% year-over-year jump Circle is set to unveil its Arc blockchain mainnet to the public on September 16 The cryptocurrency sector has demonstrated renewed momentum as September begins. Bitcoin’s value has climbed roughly 30% from its recent trough, with prices now advancing toward the $80,000 threshold. A key resistance barrier exists near $82,800, and Bitcoin’s ability to penetrate this level could determine the market’s trajectory in coming weeks.

Simultaneously, robust employment figures from the United States and climbing energy costs have elevated market expectations for a potential Federal Reserve interest rate adjustment during its September 15-16 policy meeting. An imminent inflation data release may serve as a pivotal catalyst for both Bitcoin valuations and cryptocurrency-related equities.

Three companies deserve particular attention in this market landscape: Coinbase, Circle, and Robinhood.

Coinbase Coinbase maintains its position as America’s dominant cryptocurrency exchange by trading volume and continues to represent a primary investment vehicle for those seeking direct cryptocurrency market participation.

Coinbase Global, Inc., COIN

During the second quarter, the platform secured an all-time high of 10.3% of worldwide cryptocurrency trading volume. This represented growth from the 9.1% captured in Q1 and extended the company’s market share expansion streak to three consecutive quarters.

Additionally, Coinbase recorded its 14th consecutive quarter delivering positive adjusted EBITDA results.

The company’s revenue profile has evolved beyond heavy Bitcoin dependence. Approximately 88% of net revenue now originates from activities unrelated to Bitcoin spot transactions. Revenue from subscriptions and services climbed to $555 million throughout Q2.

Stablecoin engagement continues accelerating. The average USDC balance maintained across Coinbase’s suite of products reached a record $20 billion during the reporting period.

Should Bitcoin successfully breach the $82,800 resistance level, increased trading activity could provide Coinbase with additional momentum through the remainder of the year.

Circle Circle pursues a distinct business model. Rather than operating a trading platform, the organization issues USDC, ranking among the world’s premier dollar-pegged stablecoins.

USDC circulation achieved $73.3 billion during Q2, representing a 19% increase versus the corresponding quarter in the previous year. On-chain transaction volume exploded 151% to reach $14.8 trillion.

Circle generated $701 million in combined revenue and reserve income throughout the quarter. Adjusted EBITDA expanded 8% to $143 million.

A significant company-specific milestone approaches. Circle intends to activate the public mainnet of its Arc blockchain on September 16. Arc focuses on stablecoin payment infrastructure, programmable financial applications, and tokenized real-world asset management. Over 100 institutional participants and ecosystem developers have already committed involvement.

Circle’s primary challenges include intensifying competition within the stablecoin sector and vulnerability to interest rate fluctuations, given that reserve income constitutes a substantial component of the company’s revenue generation.

Robinhood Robinhood presents the most varied business model among these three companies. Its platform encompasses equity trading, options contracts, prediction markets, and cryptocurrency services within a unified ecosystem.

The platform achieved all-time record revenue of $1.31 billion during Q2, representing a 32% annual increase. Diluted earnings per share surged 48% to reach $0.62. Net customer deposits hit an unprecedented $21.7 billion while Robinhood Gold membership expanded 39% to 4.8 million subscribers.

Cryptocurrency revenue actually declined 38% to $100 million during the quarter. However, overall revenue still reached record levels due to exceptional performance across alternative business segments.

Equity trading volume increased 85% and event-contract trading volume multiplied more than ten times. This diversification means Robinhood’s success doesn’t require a cryptocurrency market rally, although such conditions would certainly provide additional benefits.

Near-term prospects for all three stocks remain closely tied to Bitcoin’s performance. A decisive breakthrough above $82,800, coupled with favorable inflation data, could drive cryptocurrency-related stocks higher throughout late September.

Crypto fund flows are becoming increasingly sensitive to changes in the US interest-rate outlook, with CoinShares arguing that Federal Reserve policy remains a key barrier to Bitcoin (BTC) breaking above $80,000 despite continued investor demand for crypto.

In his latest market update, CoinShares head of research James Butterfil argued that “Bitcoin is trading like gold again, but the Fed still sets the ceiling” at around $80,000.

That sensitivity was evident after Fed Chair Kevin Warsh’s speech at Jackson Hole. Warsh said progress on inflation had been modest and that price pressures were not easing quickly enough to give the central bank’s policy makers the confidence inflation was returning to its 2% target. Roughly $100 million exited digital asset investment products immediately after the speech, as markets sharply increased the probability of a September rate hike.

Flows reversed over the following week, reaching $1 billion by Sept. 4. The turnaround coincided with comments from Fed Governor Christopher Waller, who pointed to recent signs of “disinflation” and said he was inclined to keep rates steady in September if upcoming inflation data showed further progress.

“Investors are not exiting the asset class,” Butterfill wrote. “They are trading the rate path.”

As of Monday, Fed Funds futures prices implied a roughly 60% chance of a rate hike following next week’s Federal Open Market Committee (FOMC) meeting, according to CME Group.

Markets are now pricing in a 25 basis-point rate hike on Sept. 16. Source: CME Group

The movements suggest that Bitcoin and broader digital asset markets remain highly sensitive to shifts in liquidity and monetary policy. Easier financial conditions have historically supported crypto and other risk assets.

Treasury buybacks add to liquidity backdropCoinShares’ assessment comes against the backdrop of a strong rebound in Bitcoin and the broader digital asset market last month, when the US Treasury announced plans to double certain long-dated bond buybacks from $2 billion to $4 billion per operation. Bitcoin climbed from the low $60,000s to above $80,000 during the month. 

The expanded buyback program is expected to run from Sept. 9 through Nov. 4.

“Around the Treasury announcement we also saw equity sell-offs and shifts across the yield curve, layered on top of the ongoing noise from the Iran war — oil and equities swinging depending on whether or not people are feeling optimistic about diplomacy on any given day,” wrote 21shares co-founder Ophelia Snyder in her Substack newsletter last week.

“Taken together, these factors suggest to me that the current Bitcoin rally may have less to do with crypto-specific catalysts and more to do with growing interest in de-risking exposure to the US specifically,” she added.

The move reinforced the market’s focus on liquidity conditions and prompted Standard Chartered to forecast that Bitcoin could reach $100,000 before the end of the year.

This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

The oldest trick in the con artist’s handbook, updated for the crypto age: call someone pretending to be from a trusted institution, create enough panic, and walk away with their life savings. In this case, the life savings happened to be more than 4,100 Bitcoin, worth over $240 million at the time of the theft.

Malone Lam, a 22-year-old Singaporean national, is scheduled to appear in a U.S. federal court on September 9, 2026, to enter a guilty plea linked to one of the largest Bitcoin thefts ever prosecuted on American soil.

How the scheme worked Lam and his associates allegedly impersonated representatives from both Google and the Gemini crypto exchange, contacting a wealthy investor based in Washington, D.C.

The goal was straightforward, even if the execution was elaborate: convince the target that his accounts were compromised, then talk him into handing over security codes and access credentials. Once inside, the group transferred his Bitcoin holdings out of his control entirely.

The theft occurred in August 2024, though the broader criminal operation had been running since approximately October 2023. By the time authorities dismantled it, the group had been linked to thefts totaling more than $263 million across multiple incidents stretching through March 2025.

The FBI arrested Lam in September 2024 at a mansion in Miami, a detail that says everything about how the stolen funds were being spent. Prosecutors allege the group converted Bitcoin into cash and then burned through it: dozens of sports cars, private jets, and a single nightclub visit in Los Angeles that reportedly ran to over $569,000.

A landmark prosecution This case carries legal significance that extends well beyond the dollar amount. It marks the first time a Bitcoin-related prosecution has been brought under the Racketeer Influenced and Corrupt Organizations Act, better known as RICO, a statute historically associated with organized crime syndicates rather than crypto theft rings.

Eighteen people have been indicted in connection with the scheme. Ten have already pleaded guilty ahead of Lam’s scheduled hearing, suggesting prosecutors have built a durable case from the inside out. Lam himself faces a minimum sentencing guideline of 14 years in prison if the plea proceeds as expected.

The operation also had a physical dimension that investigators found notable. The group reportedly conducted home burglaries specifically to steal hardware wallets, the small USB-like devices that store crypto private keys offline.

What this means for crypto security Exchanges invest heavily in technical infrastructure, multi-factor authentication, and blockchain-level security. None of that matters if an attacker can simply call your customer and impersonate your support team.

Gemini’s brand was used as a prop in this scheme, though the exchange itself was not compromised at the infrastructure level.

For individual holders of significant crypto assets, the case reinforces several uncomfortable realities. Legitimate exchanges and platforms do not initiate unsolicited calls asking for security codes. Any unexpected contact claiming to be from a financial institution or exchange, requesting credentials or urgent account action, should be treated as a red flag regardless of how official it sounds.

Ten guilty pleas already secured, a lead defendant scheduled to follow, and a case that federal prosecutors are framing as organized crime rather than opportunistic fraud.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Well-known trader Killa: Altcoins may have already bottomed out ahead of schedule, making now a good time to accumulate positions.

Renowned crypto trader Killa said in a recent post that while he dislikes the vast majority of altcoins and even believes 99.9% of projects will eventually go to zero, selective participation is worth it as long as there are profit opportunities in the market. He noted that historically, one of the favorable periods to allocate to altcoins is when Bitcoin starts forming a bottom and begins a gradual rally. Killa pointed out that during the last cycle, when Bitcoin rallied from $16,000 to $74,000, many altcoins saw gains of 300% to 500%. However, after Bitcoin began significantly outperforming the market and its market dominance rose further, many altcoins started to plunge sharply. He believes that if his assessment is correct and Bitcoin has now formed a cyclical bottom, many altcoins may have also completed bottoming at low levels, meaning there is significant upside potential for selectively allocating to quality assets ahead of the actual bull market expansion phase. Killa revealed that he previously bought SOL at $76, and the position is now up roughly 50% from entry. His previously disclosed entry price for HYPE spot and long positions was $51.55, with subsequent gains of around 70%. He also recently shared a swing long position in ASTER, and expects this position to deliver upside of at least 50% to 100%. “Altcoins may have already bottomed out in advance, while the real rally has not yet started. Now is the time for selective allocation,” he said. He added that different altcoins will likely rally in rotation going forward, and he will continue holding his previously disclosed positions in SOL, ASTER, and HYPE, while looking for more worthy assets to allocate to.

51 minutes ago

OpenAI’s Chief Scientist warns that AI is advancing too rapidly, saying “extreme caution” is needed now.

Insight: Beating AI News Flash — OpenAI Chief Scientist Jakub Pachocki warned that artificial intelligence is advancing too rapidly, growing increasingly difficult for humans to understand and control, stating that "extreme caution is needed now." He noted that AI models can already operate computers, collaborate with humans and other AIs, and conduct research, and that in the near future, they may achieve "recursive self-improvement" without human intervention. Pachocki expressed concern that no one is prepared for the consequences of the continuous rapid advancement of machine intelligence. Developers can align AI more closely with human interests, or slow down future research and development (R&D) if necessary. He anticipates and hopes that "voluntary slowdowns" in R&D by AI labs will become the norm before the industry establishes common safety standards. OpenAI has currently adopted a limited rollout approach for GPT-6 Astra due to its advanced cybersecurity capabilities.

51 minutes ago

Biden-themed Meme coin LAPTOP unveils detailed tokenomics

Hunter Biden’s upcoming Meme coin project, set to launch on September 9, has released detailed tokenomics for its LAPTOP token on its official website. The LAPTOP token has a total supply of 1 billion units, with 35% (350 million tokens) unlocked at the Token Generation Event (TGE), and full unlocking will take 36 months. The token allocations are as follows: 30% to founders, 30% to prediction markets, 10% to initial airdrops, 10% to future airdrops, 10% to liquidity, 5% to the foundation treasury, and 5% to charity. Notably, the handling of the 30% total allocation will be determined by the settlement results of 30 Polymarket prediction markets covering political, crypto, and cultural categories. If a market settles to YES, the corresponding tokens will be burned directly; if settled to NO, they will be donated to charity.

51 minutes ago

The Hunter Biden-linked meme coin LAPTOP warns the community to beware of counterfeit tokens and malicious links.

Hunter Biden, son of former US President Joe Biden, is set to launch a meme coin called LAPTOP. The project team has issued a reminder to the community to beware of counterfeit tokens and malicious links, stating that the LAPTOP project will never proactively contact users, nor will it ever request private keys, mnemonic phrases, or personal information, urging users to only trust communications from official channels. As BlockBeats previously reported, after Hunter Biden officially announced the coin launch, numerous LAPTOP-named tokens emerged on various popular meme coin blockchains, with most of them following a trend of surging first and then plummeting to near-zero value.

51 minutes ago

Markets currently view the probability of the Republican Party securing a landslide victory in the midterm elections as low as just 11%.

According to data from Predict.fun, in its prediction market for the 2026 U.S. Midterm Elections, the current probability of a "Democratic landslide" is as high as 51%, the probability of Republicans winning the Senate and Democrats holding the House is currently reported at 35%, while the probability of a "Republican landslide" is only 11%.

51 minutes ago

Liquid's white hat hacker has returned 3,400 BTC, while approximately 600 BTC remains to be returned.

The "white hat hacker" who attacked the Liquid network and stole approximately 4,000 BTC has returned around 3,400 BTC to the Liquid Federation, with roughly 600 BTC still outstanding. The repayment stems from earlier on-chain communication, where the address claiming to be the white hat hacker stated it would return the stolen Bitcoin once Blockstream patched the vulnerability. The incident remains under active development. Notably, during prior discussions with Blockstream, the Liquid white hat hacker pledged to return "most" of the 4,000 BTC, not the full amount; the unreturned funds are likely intended as a bounty.

51 minutes ago

In brief Malone Lam, 22, is due in federal court in Washington on Tuesday for a plea agreement hearing. Prosecutors say callers posing as Google and Gemini staff talked a Washington investor out of more than 4,100 BTC. The same indictment describes a racketeering group that also burgled homes to steal hardware wallets. Malone Lam, the 22-year-old Singaporean whom prosecutors identify as an organizer of the crew that took $245 million in Bitcoin from a single investor, is due in federal court in Washington on Tuesday for a plea agreement hearing.

A man named in court filings only as Victim-7 was at home in Washington when callers claiming to be from Google and Gemini warned him his accounts were under attack. They talked him into installing remote desktop software and surrendering his security codes, then moved more than $245 million in Bitcoin out of his wallets.

The indictment charges 18 people as a racketeering group it calls the Social Engineering Enterprise, with roles running from database hackers to callers to money launderers. It grew out of friendships formed in online gaming and worked from stolen crypto databases to pick targets. When a victim kept coins on a hardware wallet, prosecutors say, members flew to the house and broke in.

Rivals came for the familyWord of the score spread, and the crew became targets themselves. A week later, co-defendant Veer Chetal's parents were driving in Danbury, Connecticut, when a car rammed their Lamborghini and men pulled up in a van, beat the couple and tied them up, meaning to extort Chetal for his share. Eyewitnesses called police, and an off-duty FBI agent happened to be driving past.

The money itself went into Monero through exchanges that ask for no identification, then through peel chains, prosecutors say. Cash came back in bulk, some of it shipped across the country inside stuffed toys. Lam spent $4 million at Los Angeles nightclubs in a month and bought more than 30 cars, titling them to a shell company called Crypto Administration LLC.

Myriad: Bitcoin next price move? Click to make your prediction.Members relayed messages to and from Lam in a Miami jail, funded his defense with fraud proceeds, and were still attempting social engineering attacks from Dubai in early 2025, discussing them in coded language about "playing tournaments," according to the indictment.

Ten of the 18 have so far pleaded guilty. Judge Colleen Kollar-Kotelly, who rejected one lawyer's description of the group as mischievous young kids, has sentenced three. "Being young only goes so far," she said.

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Summarize this article with:

The bears tell us that Bitcoin will return to 60,000 dollars. On the other side, some bulls are already talking about completely outrageous prices. As always, reality is probably somewhere in between. As a trader and two-time winner of global crypto trading competitions in 2024 and 2025, I will simply explain to you what I see today in the market, without euphoria and without trying to announce unrealistic targets.

As I explained in my previous analysis, I expected a few relatively boring weeks on Bitcoin, with a more sideways market. That is exactly what we observed, with a major resistance zone around 82,000 dollars and an important support zone around 76,000 dollars.

Today, Bitcoin touched about 82,500 dollars, which places the market at a particularly interesting level.

The $82,000 remains the level to break In my opinion, Bitcoin will eventually break this $82,000 zone. If this happens, the next level I will watch will be around $88,000.

But beware: to me, touching $82,000 or making a simple spike above this zone absolutely does not mean that the resistance is broken.

A spike is not a breakout.

I want to see a real close above this zone, with a solid candle and especially volume. Only from there will I start considering $88,000 as the next truly probable target.

For now, on a macro reading, the structure is still bearish. However, there is something important to take into account: the market is showing strength.

Flows into Bitcoin ETFs remain present and today this gives a bit more control to the buyers. The bulls have clearly regained part of the advantage, even if I do not yet consider the bull market definitely confirmed.

Recent spot Bitcoin ETF flows. What if Bitcoin corrects again? We must also consider the opposite scenario.

The first zone I watch is around $78,500. It is a former resistance that the market must now successfully turn into support.

Below, we find the $76,000 zone, which remains for me the main support of this current structure.

If Bitcoin loses $78,500, then also breaks $76,000, then the scenario could quickly change and we might see the price return to $71,000.

Can Bitcoin still go to $71,000? Yes.

But before that, the market must first break the $76,000 support. As long as this zone holds, announcing a direct return to $60,000 seems premature to me.

And if Bitcoin eventually returns to $71,000, I would personally consider this zone an excellent opportunity for those who missed the lower buys and who did not take advantage of the move from $60,000.

Bitcoin on daily chart: $82,000 resistance, $76,000 support, and next level at $88,000. What I expect for Bitcoin in September For September, my scenario remains overall positive.

I do not expect an interest rate hike, I think the market can continue to show strength and I also expect positive developments around the CLARITY Act, which could continue to support sentiment around the crypto sector.

This does not mean that Bitcoin will go straight up.

The levels remain simple:

$82,000 broken with volume → $88,000 becomes my next target. $78,500 then $76,000 lost → $71,000 becomes possible again. For now, the bulls have regained some control, but to really talk about the start of a new bull market, I want to see Bitcoin confirm this strength above $82,000.

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CryptoCedric

Cedric Cerezo is a professional cryptocurrency trader, market analyst, mentor, and international speaker. Recognized for winning two world cryptocurrency trading competitions, he specializes in Bitcoin market structure, on-chain analysis, institutional capital flows, and trading psychology. His research combines technical analysis with macroeconomic and blockchain data to deliver high-conviction market insights for investors and industry professionals.

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.

In brief Annual MENA blockchain transactions reached an estimated $350 billion by 2025–2026, up from about $100 billion in 2022. The institute says the Iran conflict pushed a growing share of regional capital into digital assets. Investors shifted toward Bitcoin after an initial sell-off, while Gulf crypto firms continued operating during the fighting. The Iran conflict is pushing a growing share of regional capital into digital assets as investors seek to preserve wealth and move money during disruption, according to the Bitcoin Policy Institute.

In a report published Friday, the group estimates that annual blockchain transaction value across the Middle East and North Africa reached $350 billion by 2025–2026, more than triple the approximately $100 billion recorded in 2022.

Myriad: Bitcoin's next price move? Click to make your prediction.Regional conflicts tend to accelerate capital outflows,” researchers for the institute wrote. “The Iran conflict displayed a different dynamic: instead of exiting the region, a growing share of capital shifted into digital assets, underscoring the increasing role of cryptocurrencies—and Bitcoin in particular—as a hedge against economic and geopolitical uncertainty.”

While the institute attributes the broader growth to economic pressures and government efforts to develop crypto markets, it argues that the fighting has increased demand for financial alternatives and demonstrates the benefits of markets that remain open during disruption.

Bitcoin initially fell alongside other risk assets after fighting broke out between Israel and Iran in June 2025.

“Rather than behaving as an immediate safe-haven asset, Bitcoin initially traded in line with global equity markets as investors adopted a classic risk-off posture,” the report says.

Investors then moved from riskier cryptocurrencies into Bitcoin, pushing its share of the crypto market to a one-month high of 64.8%, according to the institute. Its price stabilized despite continued fighting.

The institute says investors moved toward Bitcoin to protect their money from the economic fallout of the conflict, including higher oil prices, inflation and interest rates. Helping matters is the fact that crypto markets also stayed open around the clock, while traditional markets were closed.

The report identified several countries, including Egypt, Turkey, Lebanon and Iran, as countries where currency depreciation has also encouraged people to use Bitcoin and stablecoins pegged to the U.S. dollar to preserve purchasing power.

“Rather than slowing regional adoption, the episode highlighted the growing divergence within MENA,” the report said. “In countries experiencing sanctions, conflict or currency instability, cryptocurrencies served as a means of preserving wealth and transferring value outside traditional financial systems, while regulated Gulf markets continued to attract institutional capital and strengthen their position as the region's leading centers for digital assets.”

The Bitcoin Policy Institute did not immediately respond to a request for comment by Decrypt.

More recent activity in Iran shows how quickly funds can move after an attack. Chainalysis tracked roughly $10.3 million leaving Iranian crypto exchanges between February 28 and March 2 this year, following U.S.-Israeli airstrikes. The firm cautioned that those transfers could include personal withdrawals, exchanges managing liquidity, or state-linked actors moving assets.

The report also points to the UAE and Bahrain’s efforts to attract crypto firms and institutional investors by establishing regulatory frameworks for the industry.

In May, Kraken parent company Payward said it had received preliminary authorization from Dubai’s Virtual Assets Regulatory Authority for broker-dealer and investment management activities.

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Litecoin is outperforming Bitcoin as momentum shifts toward selected altcoins. MWEB addresses now hold approximately 519,000 LTC, continuing a steep rise in private balances. LitVM is developing an EVM-compatible ZK rollup secured by Litecoin, but its mainnet has not yet launched. LTC’s 4-hour RSI has crossed 70, leaving the bullish structure intact but increasingly stretched. Litecoin (LTC) extended its September rally on Sunday, climbing sharply while Bitcoin remained comparatively flat. The move comes as 519,000 LTC is now held in Mimblewimble Extension Block (MWEB) addresses, alongside growing attention around LitVM, the zero-knowledge rollup designed to bring EVM-compatible smart contracts to Litecoin. The combination gives the rally two distinct narratives: increasing use of Litecoin’s privacy layer today and expectations for a broader programmable ecosystem in the future.

519,000 LTC Moves Into Litecoin’s Privacy Layer The more concrete network development behind Litecoin’s current narrative is coming from MWEB.

Litecoin’s official account reported that approximately 519,000 LTC is now held in MWEB addresses, extending a longer-term increase in balances using the network’s privacy functionality.

Nice trajectory.

Current total Litecoin in MWEB addresses at 519k.

HIGHER. pic.twitter.com/nxETvEz4Oi

— Litecoin (@litecoin) September 6, 2026

The trajectory is striking. The three-year chart shared by Litecoin shows MWEB balances below 100,000 LTC during much of 2024 before accelerating through 2025 and 2026. Holdings recently pushed above 500,000 LTC after spending part of this year around the 300,000 to 400,000 range.

MWEB, or Mimblewimble Extension Blocks, allows users to opt into confidential Litecoin transactions in which amounts are obscured while preserving the ability of the network to validate supply.

The rising balance does not necessarily mean 519,000 LTC has permanently disappeared from liquid supply.

Coins can move into and out of MWEB, so treating the entire amount as removed from circulation would exaggerate the scarcity effect.

It does show that a growing quantity of LTC is being actively held inside Litecoin’s privacy layer.

That distinction is particularly relevant following the MWEB security problems earlier this year. Litecoin developers disclosed that a March vulnerability had been exploited to create an inflated peg-out of approximately 85,034 LTC. The actor later cooperated with recovery efforts, the MWEB balance was restored, and subsequent Litecoin Core releases introduced additional validation and accounting protections.

The return of MWEB holdings to new highs provides a more useful adoption signal after that disruption than simply measuring transaction speculation around LTC.

LitVM Gives Traders a Second Litecoin Narrative The other part of the current Litecoin trade is forward-looking.

LitVM is building what its documentation describes as the first trustless EVM-compatible rollup secured by Litecoin. Its architecture combines Arbitrum Orbit for EVM compatibility with BitcoinOS’s Grail technology for trustless LTC bridging.

The project would allow developers to deploy Ethereum-style smart contracts while using Litecoin as part of the underlying settlement architecture.

That represents a substantial expansion from Litecoin’s traditional positioning as a peer-to-peer payments network.

Development is already taking place on LiteForge, LitVM’s testnet. Recent ecosystem updates indicate that the test network has processed more than 250 million transactions, while applications including prediction markets and other DeFi products are being developed ahead of mainnet.

But there is an important limit to the current narrative: there is no verified LitVM mainnet launch accompanying Sunday’s LTC rally.

The project remains under development. LitVM can therefore help explain speculative expectations around Litecoin’s future utility, but it should not be presented as a newly launched product responsible for the price move.

LTC Breaks Higher After Several Days of Consolidation The 4-hour Coinbase chart provides clearer evidence for what is happening in the market itself.

At the time of writing LTC was trading at $56.596 after reaching an intraday high of $59.422.

Litecoin trades near $56.60 after extending its 4-hour rally, while RSI moves above 70 into overbought territory. Source: TradingView, 4-hour LTC/USD chart. That upper wick shows buyers briefly pushed the market considerably higher before sellers appeared near $60.
The underlying trend remains bullish:

20-period SMA: $53.648, now the closest dynamic support. 50-period SMA: $51.228, maintaining the broader short-term uptrend. 100-period SMA: $50.945, reinforcing the support cluster around $51. 200-period SMA: $48.210, well below current price and still rising. RSI (14): 71.13, slightly inside overbought territory. RSI average: 67.43, showing that momentum remains elevated even after the rejection from the session high. Price is above all four averages, while the 20-period SMA has separated clearly from the slower averages.

That structure favors buyers, but Sunday’s long upper wick introduces the first meaningful warning.

LTC approached $60 and was unable to hold there. The rejection does not invalidate the breakout, but it establishes a clear area where supply entered the market.

$60 Is Now Litecoin’s Immediate Test The chart leaves LTC with a relatively straightforward short-term range.

The $59.40-$60.00 region is the first major resistance. A 4-hour close above that area would clear Sunday’s rejection and strengthen the case for another leg higher.

Support begins around $55-$56, where LTC traded before the latest acceleration. Holding that area would allow momentum to cool without materially damaging the breakout.

Below it, the rising 20-period SMA at $53.648 becomes more important. A move back toward that level would represent a deeper retracement but could still leave the broader trend intact.

The RSI deserves particular attention here. At 71.13, Litecoin is overbought by the conventional 70 threshold, but nowhere near the extreme levels sometimes reached during vertical crypto rallies.

That creates room for two outcomes. LTC could consolidate around the mid-$50s while RSI normalizes, or buyers could make another attempt at $60 before momentum resets.

The long wick toward $59.42 makes the second attempt more meaningful than the first. Breaking it would show that buyers have absorbed the supply responsible for Sunday’s rejection.

Litecoin’s Rally Now Has a Network Test as Well as a Price Test Litecoin’s current setup is stronger when MWEB and LitVM are treated separately rather than folded into a single bullish narrative.

MWEB provides a measurable present-day signal: 519,000 LTC is held inside the privacy layer. LitVM provides the optionality: a smart-contract environment that could give LTC utility in applications that historically sat outside Litecoin’s core payments use case.

LitVM’s broader roadmap is therefore worth watching for a confirmed mainnet timetable, particularly after its LiteForge testnet passed major transaction milestones this summer.

Neither guarantees that the price rally will continue. MWEB balances can reverse, LitVM remains pre-mainnet, and Sunday’s rejection below $60 shows traders are already taking profits into strength.

The next confirmation would come from the two sides independently: LTC establishing support above its breakout zone while MWEB usage continues rising and LitVM moves closer to production. That would give the market more than momentum to work with if Litecoin makes another attempt to turn $60 from resistance into support.

XRP is displaying renewed upward momentum, with the cryptocurrency currently trading near $1.40 after a sharp rebound from its August low of approximately $1.00. Technical analysts and market observers are now debating the outlook for the next major cycle as XRP approaches levels seen as technically significant for a sustained rally.

Key technical levels and short-term roadmapsImmediate bullish projections place XRP’s critical resistance in the $1.50 to $1.55 range, followed by the August peak around $1.70. Several analysts point to these thresholds as essential for confirming a broader breakout. The 20-day moving average currently sits at $1.32, while intermediate moving averages are clustered between $1.19 and $1.24. XRP also remains close to its 200-day moving average, indicating strong underlying support in the current zone.

Coinpaper’s broader market outlook echoes the importance of the $1.50 area, noting XRP’s robust price recovery after August’s downturn. Many traders view a sustainable move above $1.55 as a trigger for the next upward phase, while the next major technical challenge stands at $1.70.

Long-term projections: EGRAG’s analysisIn a detailed three-month forecast, analyst EGRAG has adopted Elliott Wave and Fibonacci approaches to identify a long-term target zone for XRP’s potential fifth macro wave. His initial targets range between $6.19 and $8.07, contingent on a successful completion of the current technical structure without breaking important support.

Should momentum strengthen further, EGRAG projects that XRP could extend to $11.45, surpass $13, or even reach $17, although these remain longer-term and more speculative estimates. He clarifies that these figures are based on macro-technical structures and are not near-term price objectives.

XRP would require a gain of approximately 342% from its current price of $1.40 to reach the lower bound target of $6.19. To achieve $8.07, the token would need an increase of nearly 476%.

These projections remain distinct from the frequently cited $60 target, which would need a monthly close above $3.66 before the larger upside scenario could be considered in play.

Derivatives and market sentimentXRP derivatives have surged recently, with the asset posting its most significant activity in six months. A 57% rebound from August lows has driven futures positioning higher as traders bet on further advances in the near term. This heightened derivatives activity signals that some investors anticipate a sustained breakout if current resistance levels are surpassed.

Despite the increased trading volumes and pronounced bullish sentiment among select analysts, the wider market remains cautious about extreme long-term targets. Prediction market data places the probability of XRP trading above $2 at any point in 2026 at just 39%, illustrating overall skepticism regarding the feasibility of reaching the $6–$8 target zone within that timeframe.

While the bullish thesis is gaining momentum, most market participants appear unconvinced about the possibility of XRP moving well beyond the $2 mark over the next two years, based on available prediction-market odds.

As traders navigate these technical setups and market volatility, the need for real-time market intelligence is becoming more apparent. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, users gain access to real-time charts, smart price alerts, coin-specific news, and critical macro data on a single screen, simplifying the process of tracking assets such as XRP.

American media personality Alex Jones has warned that proposed changes to the financial system could eventually give governments greater control over privately held assets, including XRP.

During a recent broadcast, Jones linked discussions surrounding centralized financial ledgers, bank bail-ins, and the mobilization of household savings to a broader concern about government intervention in private wealth. He suggested that regulators could eventually develop mechanisms to control citizens’ assets during a severe financial crisis.

Jones specifically raised the possibility that authorities could target digital assets such as XRP. He compared the potential scenario with the U.S. government’s restrictions on private gold ownership in 1933, arguing that digital assets could face similar intervention under extraordinary circumstances.

However, his comments have faced strong criticism from members of the XRP community, who argue that the claims lack supporting evidence.

XRP Community Challenges Jones’ Claims XRP community figure Moon Lambo dismissed Jones’ warning as “conspiracy theory nonsense,” arguing that there is no established U.S. government plan to confiscate XRP.

According to Moon Lambo, forcibly taking XRP from American investors would undermine confidence in the digital-asset market and could trigger panic selling. He further argued that such a move could deprive the United States of a significant source of retail and institutional capital.

Moon Lambo also challenged Jones’ comparison with the 1933 gold restrictions. He pointed out that the U.S. operated under a gold-standard monetary system at the time, whereas the modern U.S. dollar is a fiat currency. Therefore, he argued, the government has no comparable monetary requirement to acquire XRP.

Aussie XRP likewise labeled Jones’ claim pure FUD, stressing that the government cannot simply confiscate XRP held in a self-custody wallet. Meanwhile, Jacob Metzger took a more evidence-focused position. He challenged Jones and others making similar claims to identify the specific law, policy, or government document that would authorize regulators to seize people’s XRP, homes, or bank accounts.

Self-Custody Remains a Key Point Digital Ascension Group Chairman Jake Claver also questioned the timing of Jones’ comments, while an XRPL dUNL validator Vet emphasized that self-custodied XRP remains under the control of whoever possesses the corresponding private keys.

The validator also rejected the characterization of XRP as exclusively a “bank asset.” Instead, he noted that the XRP Ledger is open-source and available to anyone.

Furthermore, financial authorities such as the U.S. FDIC do not have an established legal framework that simply allows them to seize privately held digital assets. Similarly, claims about authorities intervening in Ripple’s locked XRP escrow holdings have faced legal scrutiny, with those escrows operating through predefined mechanisms rather than giving regulators direct control over privately held XRP.

Jones Clarifies His XRP Comments Amid the backlash, Jones has since clarified that his concerns are focused more broadly on vulnerabilities within the financial system rather than on XRP itself.

Jones explained that viewers had initially asked whether governments could seize XRP during an extreme economic crisis. In response, he said his primary concern was the potential use of emergency government powers, including bank bail-ins, and whether authorities could target different forms of private wealth if the traditional financial system came under severe pressure.

As a result, his clarification shifts the focus from a specific prediction that the government will confiscate XRP to a broader warning about how emergency financial powers could affect private assets during a systemic crisis.

Despite the controversy, some XRP proponents believe Jones’ comments could ultimately benefit the asset by exposing it to a much larger audience. Jones has a massive following of roughly 4.4 million users on X, meaning his discussion of XRP reaches an audience far beyond the cryptocurrency community.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

XRP Ripple released 1 billion tokens from escrow on September 1, worth roughly $1.38Bn at the time, and the sell-off traders have feared for years never materialized.

The token was trading around $1.38 when the tokens hit Ripple-controlled wallets and sat near $1.42 five days later. That muted reaction matters because it suggests the market has stopped treating a scheduled, predictable release as an automatic reason to dump.

Here is the tension worth unpacking: did the crypto market genuinely absorb this unlock through structural demand, or did a strong August simply mask what would otherwise have been a rougher week for XRP?

🚨 RIPPLE LOCKS 1 BILLION XRP BACK INTO ESCROW 🔒

300M XRP → Ripple (1)
500M XRP → Ripple (17)
200M XRP → Ripple (16)

➡️ 1,000,000,000 XRP in total locked back into escrow. $XRP #Ripple #XRPL https://t.co/TDGYn4nBWo pic.twitter.com/xH0UFQIRfG

— Xaif Crypto (@Xaif_Crypto) September 1, 2026

How Ripple’s Escrow Unlock Actually Works Ripple’s escrow program dates back to December 2017, when the company locked 55 billion XRP into time-based contracts on the XRPL (XRP Ledger) to make future supply releases transparent and predictable. Up to 1 billion XRP unlocks on the first of every month, and whatever Ripple doesn’t use for operations, partnerships, or liquidity deals goes right back into new escrow contracts at the end of the queue.

The September release came through as three transactions, 500 million, 400 million, and 100 million XRP, within minutes of each other. Ripple’s total escrow balance stood at 31.28 billion XRP afterward.

Crucially, the outlet reports that Ripple typically re-escrows 700 million to 900 million XRP each month, leaving only 100 million to 300 million available for operational use, OTC liquidity, or institutional payments, a fraction of the headline billion-token figure that spooks newcomers.

An unlock is not a sale, and Ripple placed roughly 700 million XRP back into new escrow contracts after the September release, split across two transactions, though that does not confirm what happened to the remaining tokens outside those new locks.

XRP BULL MARKET TARGET: $60

For nearly a decade, $XRP has been forming a massive ascending triangle on the monthly chart.

The $3.66 resistance level is the key barrier. A monthly close above it would confirm the breakout and activate a technical target near $60. pic.twitter.com/RpAnbER9cv

— Ali Charts (@alicharts) September 5, 2026

Check out the XRP Markets on Kalshi and Claim Your FREE $25

What Actually Absorbed the Supply The September release landed in a market that had just posted its best August in five years. XRP climbed 28.5% during the month, touching $1.70 before settling back. That momentum gave the token a cushion the escrow schedule hasn’t always enjoyed.

Spot XRP ETFs, approved in March 2026, pulled in $153.55M in August alone, with $150.28M of that arriving in the final two weeks – a detail that lines up with the broader ETF inflow story building around XRP this year.

On-chain activity told a similar story: XRPL payment volume jumped 521.1% on August 26 to roughly 488.4 million XRP, even as the number of individual transactions fell 10.5% to about 388,900.

Fewer payments with much larger value points to institutional or enterprise-scale transfers rather than a retail wave, a pattern worth watching alongside broader questions about who is actually driving new XRPL usage.

Active addresses on the ledger hit 2.26 million in August, more than double July’s 1.02 million, while total value locked rose from $32.31M to $44.42M over the same stretch.

None of this proves a single causal chain from ETF demand to unlocking absorption, but it does describe a market with considerably greater liquidity depth than the one that panicked over past escrow releases – a shift also visible in growing institutional participation in CME futures markets.

(SOURCE: CoinGlass)

Why the XRP Ripple Unlock Became Background Noise The escrow program has now run on the same predictable monthly schedule for eight years. Everyone knows the size of the release and Ripple’s historical re-escrow behavior, which removes the information asymmetry that once fueled panic selling around the first of the month.

The broader backdrop has shifted too. The SEC and Ripple jointly dismissed their appeals on August 11, 2025, closing out a multi-year legal fight, and spot ETFs plus growing XRPL usage have since given the token more structural demand channels than it had in prior years.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

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XRP has pulled back from the $1.69 high reached during its August rally, but its 4-hour chart still shows a bullish Break of Structure (BoS). 

Notably, XRP rose 71.8% from $0.988 to $1.698 in August before the current pullback began. The decline has already erased about 20% of the August high, as the price now trades just above the EMA21 at $1.4020. 

This level could help determine whether the pullback stays limited or turns into a steeper decline.

XRP Maintains Bullish BoS The 4-hour chart shows that XRP formed a bullish BoS 23 bars ago after breaking above $1.4335. This move gave buyers control of the short-term trend, but the recent decline has brought the price back to the EMA21 at $1.4020. The EMA55 at $1.3884 now provides another support level below the EMA21. 

Meanwhile, XRP’s Bollinger Bands range from $1.3607 to $1.4433. XRP currently sits in the lower half of this range, but this alone does not point to a reversal. Instead, the price action could simply undergo a period of consolidation within the wider 4-hour uptrend.

XRP Maintains Bullish BoS The chart leaves the $1.4835 swing high as the next major level to watch. XRP has not tested this level since forming the bullish BoS. As a result, a move toward it would give buyers a chance to complete the next major test in the current structure.

Important XRP Demand Zone The area around the EMA21 at $1.4020 and the $1.4335 BoS level features an important support zone for the current structure. 

Below it, the $1.35–$1.38 region could provide further support. Market analyst Ali Martinez previously identified this area as a major demand zone, with about 3.2 billion XRP changing hands there.

If XRP loses the EMA21, the price could first move toward the EMA55 at $1.3884. Further weakness could then bring the $1.35-$1.38 demand zone into focus. However, a move back above $1.4335 would strengthen the bullish setup and increase the chances of a retest of $1.4835.

XRP ETFs Keep Drawing Fresh Capital XRP’s price has declined from its August high, but spot XRP ETFs have continued to attract capital. US spot XRP ETFs recorded $110.49 million in inflows during the week ending Aug. 28, marking their strongest weekly inflow of 2026. 

The funds extended their inflow streak to 11 straight trading sessions, bringing in roughly $170 million during that period. The continued inflows as XRP declined suggest that investors are still adding exposure as the market works through its recent correction.

Despite Goldman Sachs confirming about $87.4 million in XRP ETF exposure as of the second quarter, retail investors still account for nearly 84% of XRP ETF inflows, which leaves room for greater institutional participation.

XRP Needs to Reclaim $1.4335 Essentially, the bullish setup needs XRP to close a 4-hour candle above $1.4335. Such a move would show that buyers have reclaimed the BoS level and could clear the path toward the $1.4835 swing high.

If XRP breaks above $1.4835, the next major target would be the $1.6999 August high. However, the structure also has a clear level that would weaken the bullish case. 

A 4-hour close below the EMA55 at $1.3884 would put the current structure under pressure and could indicate that the bullish setup has failed.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

The U.S. Treasury Department fully launched its government debt buyback program on Sep. 7, boosting market expectations regarding the near-term liquidity of Bitcoin and XRP.

Summary

The U.S. Treasury plans to raise its long-term bond buyback cap from $2 billion to $4 billion on Sept. 9. The Treasury reportedly aims to repurchase about $38.25 billion in bonds during September. The report identifies $1.70 as XRP’s key resistance, with $2 presented as the next potential target. EiCrypto promotes cloud-mining contracts for XRP holders, though its advertised returns are not guaranteed. The program has a weekly cap of $14.5 billion. According to the blockchain media outlet U.Today, the maximum execution volume for a single trading day could reach $16.5 billion.

Market attention is focused on Sep. 9. On that day, the U.S. Treasury plans to raise the per-operation cap for long-term Treasury buybacks from $2 billion to $4 billion, targeting securities with maturities of 10 to 30 years. The total value of bonds the Treasury plans to repurchase from the market in September is approximately $38.25 billion. During the same period, the Federal Reserve plans to invest up to $2.122 billion in short-term Treasury securities under its principal reinvestment program.

The cryptocurrency market is closely watching whether the capital flowing in through major banks and dealers will spur demand for risk assets. Authorities have described the multi-billion-dollar injection as a “routine” measure. However, traders believe that the funds injected through the Treasury’s repurchase of older bonds could serve as a potential catalyst for cryptocurrency prices to break out of their long-standing trading ranges.

As of early September, net inflows into US spot XRP ETFs have exceeded $1.66 billion. The market is closely watching whether US dollar liquidity can help XRP break through the key resistance level of $1.70 and subsequently advance toward the psychological $2 mark.

However, policy uncertainties remain; on Sep. 15, the U.S. Senate is set to hold a crucial vote on the Clarity Act. For XRP, this date is considered one of the most significant catalysts of the autumn. With market volatility remaining high, prices repeatedly trading sideways and trending downward, investors face major challenges, creating an urgent need for a new asset management strategy that supports XRP.

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XRP’s derivatives market just woke up from a long nap. Futures trading volume across major platforms exceeded $64.6 billion in August, the highest monthly total since February and a signal that traders are piling back into one of crypto’s most watched assets.

The volume spike arrived alongside a meaningful price move. XRP climbed nearly 30% during the month, running from $1.06 at the start of August to a high of $1.50 on August 24 before settling around $1.35.

Where the volume landed Binance was the clear heavyweight in this derivatives surge, accounting for roughly $37 billion in XRP futures volume. Bybit came in second at approximately $14.54 billion, while OKX rounded out the top three with about $12.88 billion.

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The futures activity wasn’t happening in isolation. Spot trading volume for XRP also reached its highest point since February, with Binance again leading at $7.28 billion. South Korean exchanges showed up in force as well: Upbit recorded $4.68 billion in spot volume, and Bithumb Korea added $2.59 billion.

ETF inflows add institutional flavor US spot XRP ETFs recorded net inflows of $18.96 million during August, pushing combined assets under management to $1.48 billion.

What’s driving the renewed interest Two catalysts appear to be fueling the surge in XRP market activity. First, whale accumulation patterns picked up notably during August, with large holders adding to their positions ahead of a critical vote scheduled for September 15. Second, the broader narrative around XRP has shifted, with ETF products now live and attracting capital.

Worth noting: the volume spike did not indicate a clear directional bias. While the price moved higher, the futures market showed activity on both sides. Long and short interest appeared elevated, which means traders weren’t unanimously bullish.

For context, the last time XRP futures volume hit comparable levels was February, when the token was trading in a similar range.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The XRP Ledger is approaching the activation of its BatchV1_1 amendment, which market participants have described as one of the protocol’s most significant upgrades to date.

Validator support climbs toward thresholdAbout 68% of network validators have now signaled support for the update, according to an active member of the XRPL community. To be officially implemented, the amendment must receive backing from at least 80% of validators and maintain that level for a continuous two-week period. If the level drops below 80% during the period, the countdown resets and the process begins anew.

Some observers expect that if support continues to climb at its current pace, BatchV1_1 could be fully approved and made live by the end of September. However, developers note this timeline is not guaranteed and will depend on the stable commitment of validator backing.

BatchV1_1: Unlocking new functionsBatchV1_1 was introduced in XRP Ledger software version 3.3.0, launched on August 6, after the previous Batch amendment was disabled earlier in the year due to the discovery of a critical bug. This new version proposes key functionality that XRPL developers have sought for some time.

Historically, XRPL has not supported the combination of multiple operations into a single transaction. The BatchV1_1 amendment aims to change that by allowing developers to group up to eight individual transactions within a single bundled transaction. This will provide greater flexibility, allowing developers to define dependencies among different on-ledger actions and streamline the development of some applications.

Batch will unlock a lot of new use cases for the XRP ecosystem, and XRP Ledger builders have waited so long for it. The new feature can help developers charge for services more efficiently by reducing the opportunities for users to take advantage of free transactions.

Community validators such as Vet have highlighted that the forthcoming capability can reduce the need for developers to design complex infrastructure, and could improve the way builders monetize services within the XRPL environment.

Market context and strategiesIn fast-moving digital asset markets, technical upgrades like BatchV1_1 are closely watched for their potential to reshape the ecosystem. Traders and investors who monitor both protocol advancements and market changes are increasingly turning to platforms that consolidate market intelligence.

In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.

For the XRP Ledger, any significant protocol change is likely to be reflected in developer activity and user engagement, especially as new features become available and competition among blockchains intensifies.

Eight years ago, at the height of XRP’s meteoric 2017 run, Ripple CEO Brad Garlinghouse sat down to explain why Ripple was gaining traction against legacy payment networks like SWIFT, and why XRP itself, despite the volatility swirling around it, made sense as a bridge asset for cross-border payments.

Solving a Problem That Sounds Absurd Today

In an interview with Bloomberg, Garlinghouse opened with a comparison that still lands. He pointed out that if two people wanted to send $10,000 to California, the fastest method at the time was essentially to fly there in person. “That’s a crazy thing to think about when you’re in the age of the internet,” he said, framing Ripple’s mission as compressing payments that took days to settle into transactions that took seconds.

Addressing XRP’s Explosive Year

Turning to XRP itself, Garlinghouse acknowledged the token had just posted one of the most extraordinary runs in digital asset history, up roughly 25,000% in 2017, making it the best-performing digital asset of the year. He tied that performance directly to Ripple’s approach of working within existing regulatory frameworks and partnering with already-regulated institutions like banks, arguing that reduced uncertainty was part of what fueled investor confidence in XRP specifically.

The Volatility Answer That Became Ripple’s Signature Line

Asked why anyone would use a cryptocurrency as volatile as XRP for real payments, Garlinghouse gave an answer that’s been repeated in Ripple’s messaging ever since. “XRP has clearly been volatile, as all digital assets have been,” he said, “but it’s a thousand times faster than Bitcoin, so the volatility risk you’re taking around XRP is only for three seconds.” Because the exposure window was so brief, he argued, the practical risk to end users ended up being negligible despite the headline volatility.

The Original Cross-Border Pitch

Garlinghouse walked through the mechanics using a live corridor Ripple had running at the time, US dollars to Mexican pesos. A bank or payment provider could hold dollars, convert them to XRP in roughly three seconds, move that XRP to Mexico, then convert it into pesos on arrival. He framed the appeal as universal for any payment provider handling cross-border transactions, banks first, with corporates eventually following, all drawn by the combination of dramatically lower cost and dramatically higher speed compared to existing rails.

Looking Back From Today

Eight years on, with XRP now trading with institutional ETF backing and regulatory clarity taking real legislative shape in Washington, Garlinghouse’s 2017 framing, treat volatility as a brief transactional window rather than a long-term holding risk, reads less like a defensive talking point and more like an early version of the argument Ripple has spent nearly a decade building out in practice.

Story Ends Here

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XRP experienced a sharp sell-off during Labor Day, with its price quickly falling to $1.38 and causing an avalanche of forced margin calls. CoinGlass recorded an exceptionally rare market anomaly, as XRP’s hourly liquidation imbalance briefly soared past 10,535%. The number of forcibly closed long positions vastly exceeded short position closures, more than a hundredfold, highlighting the intensity of the event.

Following the sudden plunge, XRP managed to recover from its local bottom and climbed back to $1.3892. On the lower time frames, a reversal pattern began to form, signaling renewed optimism among short-term traders.

The abrupt drop from $1.4150, XRP’s daily high, activated stop-loss orders for highly leveraged traders. While the spotlight remained on significant losses in Bitcoin and Solana, which registered $10.72 million and $4.55 million in daily liquidations respectively, XRP encountered a swift technical disruption in its order book.

Technical pressure and liquidation zonesThe main driver behind the intense long squeeze stemmed from crowded long positions near XRP’s critical “Liquidation Max Pain” zone. On the monthly chart, XRP’s price approached the Short Max Pain level at $1.4368, an area where sellers could see the most losses. Many traders had accumulated long positions, hoping for a decisive break above this threshold, which created a dense concentration of orders highly sensitive to volatility.

Currently, XRP trades only 3.94% below the short-side pain point, with $9.20 million in short positions at risk of liquidation. The Long Max Pain level, sitting at $0.9837, is more than 28.83% below the prevailing price, exposing $24.29 million in potential long-side liquidations. This distribution suggests the turmoil was likely a localized, technical shakeout rather than a broader market reversal.

The price is now only 3.94% below the short-side pain level, where $9.20 million in bearish positions could be liquidated. Meanwhile, the long-side level — Long Max Pain at $0.9837 — remains more than 28.83% below the current price, with $24.29 million in potential liquidations. This confirms the local nature of the current shakeout.

Exchanges show mixed reactions as volumes riseCrypto exchanges responded differently to the volatility. KuCoin and Gate experienced net capital outflows, with open interest declining by 5.16% and 4.07%, respectively. In contrast, MEXC and Bybit witnessed heightened trading activity, becoming centers of speculative interest.

On MEXC, daily trading volume surged 118.32% as traders moved rapidly to buy the dip amid the forced selling. This impulse buying helped restore XRP’s price to $1.3892. Technical indicators, previously deeply oversold, bounced back and flashed a local bullish signal.

The nearest immediate hurdle for bulls stands at the resistance level of $1.4010. Surpassing this area could signal the definitive end of the evening’s bearish momentum and pave the way for broader recovery.

In a fast-moving environment where a surprise Fed decision or an unexpected altcoin listing can prompt rapid price swings, investors are facing increasing challenges managing market data and trade execution across multiple platforms. Many traders have streamlined their process by using privacy-focused tools like CryptoAppsy, which combine real-time charts, coin-specific news, macro indicators, and smart alerts into a single screen without requiring users to create an account.

TLDR Bitcoin failed to hold above $80,000 after reaching about $80,500 on Monday. BTC recovered above $79,000, while its market capitalization stayed near $1.6 trillion. Ethereum remained below $2,500, while XRP traded close to the $1.40 support level. Pi Network stayed above $0.09 and tested resistance near $0.095. LINK gained about 9%, while TAO advanced roughly 14% to $267. Bitcoin traded near $79,000 on Monday after another failed attempt to break above $80,000. The wider crypto market stayed mostly flat, while several altcoins posted strong gains. Pi Network also remained in focus as its native token held above key support and tested nearby resistance. Bitcoin’s repeated failures near resistance kept attention on short-term price levels as traders assessed mixed moves across major cryptocurrencies and stronger performances among selected tokens.

Bitcoin Faces Another Rejection Above $80,000 Bitcoin climbed to about $80,500 on Monday morning before sellers pushed the price below $79,000. It later recovered slightly and moved back above that level. The asset’s market value stayed near $1.6 trillion.

Bitcoin has struggled to hold gains above $80,000 since late August. It fell below $77,000 after a hawkish speech from Kevin Warsh and later dropped to around $76,400 in early September. Buyers then drove BTC to $82,400 on Thursday before another pullback followed Friday’s strong U.S. jobs report.

Ethereum price remained below $2,500 as large-cap altcoins recorded small daily losses. BNB slipped under $750, while XRP stayed close to the $1.40 support area. The broader market showed limited movement despite Bitcoin’s volatility. Total crypto market capitalization stayed near $2.71 trillion, keeping the market close to Sunday’s level.

LINK, TAO and WLD Lead Gains Several larger altcoins moved higher during the session. Chainlink gained about 9% and traded above $13. TAO rose around 14% to $267, while Mantle advanced 7.5% to about $0.635.

Internet Computer gained 12.6%, and Worldcoin rose more than 14.5%. Arbitrum moved in the opposite direction after failing near $0.20. ARB then traded around 13% below its Sunday peak.

Pi Network Tests Key Resistance Level Pi Network’s native token stayed above the $0.09 support level during Monday trading. The token also approached the $0.095 resistance area but remained slightly below it at the time of reporting.

Pi Network continues to trade within a narrow range while other altcoins show sharper daily moves. Traders are watching whether the token can hold above $0.09 and test $0.095 again. A move beyond that area would place attention on the next price zone, while a drop below support could return focus to recent lows.

In brief EIP-8141's Frame transactions would split a transaction into validation, payment and execution steps, each an ordinary contract call. Existing wallets would gain sponsored gas, token-paid fees and batched actions without migrating to a smart account. The proposal is still a draft and has not been scheduled for any network upgrade. A proposal that would let Ethereum users pay transaction fees in tokens, or have someone else pay them entirely, has been quietly advancing for months, Vitalik Buterin said on Sunday.

EIP-8141 replaces the fixed shape of an Ethereum transaction with a sequence of up to 64 "frames," each an ordinary contract call. One frame validates the transaction, another approves who covers the gas, and the rest carry out whatever the user actually wanted to do.

Splitting payment approval into its own step breaks the link between the account that signs a transaction and the account that funds it, so a wallet that only holds stablecoins could transact by paying fees in ERC-20 tokens, or an application could sponsor its users outright.

No new wallet requiredThat has been possible since 2023 through ERC-4337, but only by routing transactions through a separate mempool and paying third-party bundlers. Frames runs in Ethereum's public mempool, with rules written into the protocol that let nodes reason about a transaction's validation steps before accepting it.

Ordinary externally owned accounts are covered too. The specification defines "default code" that gives wallets with no contract deployed the same sponsored transactions, token-paid gas and batched calls, without users migrating to a smart account.

Myriad: ETH above 4K when Bitcoin goes above 100K? Click to make your prediction.Frames also allows several actions to be grouped so they succeed or fail together, ending the dangling token approvals left behind when a swap reverts, and unlinks accounts from the ECDSA keys that control them, making key rotation possible for the first time.

The proposal isn’t just addressing fees. Its authors describe Frames as a “native off-ramp” from the elliptic-curve cryptography Ethereum authenticates with today, ahead of the arrival of quantum computers capable of breaking it. Co-author Matt Garnett, who writes as lightclient, notes that post-quantum signatures run to several kilobytes each, forcing the network toward signature aggregation.

The proposal has been a draft since January and is not scheduled for any upgrade. Buterin pointed to a testnet run by the ethrex client that pairs Frames with FOCIL, the censorship-resistance mechanism, to let privacy protocols operate without relayers.

Frames "should be the last transaction type we need for accounts," Garnett wrote.

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Ethereum exchange-traded funds (ETFs) recorded significant net inflows of 10,330 ETH on September 4, 2026, according to data from SoSoValue. This influx follows a volatile week in the crypto market, signaling renewed institutional interest in Ethereum-based products and helping to stabilize U.S.-listed ETF holdings after a period of outflows.

BlackRock dominates Ethereum ETF activityBlackRock’s Ethereum ETF, under the ticker ETHA, outperformed all other funds by adding 29,600 ETH in net inflows. The product specifically saw 23,060 ETH added on the day, securing BlackRock’s strong foothold in the expanding Ethereum ETF sector. Other prominent issuers also reported increased demand, but BlackRock’s numbers positioned it as a clear leader among institutional investors.

Bitwise’s ETHB followed, registering a net inflow of 6,540 ETH. The positive inflow across various funds suggests that interest is not limited to a single product, but rather points to broader confidence in Ethereum-based investment vehicles. Fidelity’s FETH, by contrast, saw outflows totaling 19,270 ETH, possibly reflecting a preference shift among investors rather than a retreat from Ethereum ETFs as a whole.

Ethereum ETFs in the U.S. recorded a total net inflow of 10,330 ETH, led by BlackRock with 29,600 ETH, while Bitwise attracted 6,540 ETH and Fidelity saw withdrawals of 19,270 ETH, according to SoSoValue data.

ETF flows and institutional sentimentInstitutional sentiment towards Ethereum is often gauged by monitoring ETF flow patterns. Elevated inflows can enhance liquidity, reinforce spot market depth, and affect the underlying staking dynamics for Ethereum. These ETF investments influence exchanges, market-makers, and custodians tasked with managing fund creation and redemption mechanisms.

Analysts are closely watching whether this influx momentum will persist, especially as new macroeconomic data including upcoming CPI releases may impact capital allocation strategies. Additional factors such as expanded ETH ETF options markets and the rollout of Ethereum’s Dencun upgrade, which is expected to drive staking adoption, will likely play a role in shaping institutional participation.

In an environment where the impact of a single Federal Reserve decision or the sudden listing of a new altcoin can immediately upend market conditions, many traders are rethinking their toolkit. Using multiple apps for charting, news, and portfolio monitoring often results in reduced efficiency. Now, a growing number of privacy-focused investors are turning to platforms like CryptoAppsy, which offer real-time charts, price alerts, coin-specific updates, and macroeconomic data in a unified interface, even without requiring an account.

Macroeconomic backdrop and regulatory uncertaintyThe current uptick in fund flows occurs against a backdrop of macroeconomic uncertainty and regulatory ambiguity surrounding staking use in ETFs. No final clarification has come from the Securities and Exchange Commission, but the ongoing institutional adoption of crypto-backed investment products continues to bolster both Ethereum and Bitcoin.

If Ethereum ETFs continue to attract increased institutional capital, and market instruments such as ETH options see wider use, some observers anticipate a further acceleration of Ethereum adoption in the coming quarters following ongoing network upgrades.

ETF flows are shaping Ethereum’s market liquidity and influencing the role of major funds and custodians, especially as regulatory signals and product innovations continue to evolve.

TLDR Ripple burned 1,363,614.85 RLUSD on the XRP Ledger on September 6. The same 1,363,614.85 RLUSD was minted on Ethereum only seconds later. The matched transactions point to a cross-chain supply rebalancing rather than new RLUSD issuance. About $1.36 million in RLUSD liquidity effectively shifted from XRPL to Ethereum. The Ethereum-minted RLUSD was later transferred to an external wallet. Ripple RLUSD supply shifted between the XRP Ledger and Ethereum after a matched burn and mint on September 6. Onchain data showed 1,363,614.85 RLUSD removed from circulation on XRPL before the same amount appeared on Ethereum seconds later.

The sequence points to a cross-chain supply transfer rather than new token creation. The paired transactions kept the total amount unchanged while moving roughly $1.36 million in RLUSD liquidity from one blockchain to another.

Ripple RLUSD Supply Shifts Across Networks The XRPL transaction sent 1,363,614.85 RLUSD back to an address where the tokens could no longer circulate. The transaction appeared connected to the stablecoin issuer and reduced the amount available on the XRP Ledger.

👀 RLUSD Cross-Chain Movement Spotted

1,363,614.85 RLUSD $1.36M) burned on the XRP Ledger tokens returned to issuer, permanently removed from XRPL circulation.

The exact same amount was minted on Ethereum minutes later and transferred to an external wallet.

This looks like a… https://t.co/6rCFI1FElF pic.twitter.com/sK72yr7qxR

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) September 7, 2026

Ethereum then recorded a mint for exactly 1,363,614.85 RLUSD. The timing and matching amount suggest that Ripple moved existing supply across networks instead of increasing the stablecoin’s overall circulation.

After the Ethereum mint, the newly issued tokens moved to an external wallet. That transfer added another step to the cross-chain movement and placed the RLUSD outside the issuing address.

The activity differs from a standard mint that adds fresh supply to a network. In this case, the XRPL burn happened before Ethereum received the same number of tokens, keeping the combined supply level broadly unchanged.

Liquidity Moves Toward Ethereum The transaction shifted about $1.36 million worth of Ripple RLUSD from the XRP Ledger to Ethereum. The movement changed the location of stablecoin liquidity without creating an equal rise in total supply.

Ripple supports RLUSD on both the XRP Ledger and Ethereum. Moving supply between the networks can help place tokens where users, exchanges, payment firms, or trading venues need more available liquidity.

Such rebalancing can place more tokens on the network where current market activity creates stronger liquidity needs.

The September 6 transactions also show how an issuer can manage a stablecoin across multiple blockchains. Burning tokens on one network and minting the same amount on another can move supply without relying on a direct token bridge.

For RLUSD users, the recorded transactions mainly changed the blockchain holding the tokens. Onchain records showed a reduction on XRPL and a matching increase on Ethereum, leaving the transferred amount balanced overall across the two networks.

The current state of the portfolio of the founder, who surprised the entire market with his Ethereum sale in May, has been revealed.

Bankless co-founder David Hoffman’s decision in May to sell his Ethereum (ETH) and invest in some altcoins sparked debate within the cryptocurrency community, and the subsequent performance of those assets has now come back into focus.

According to data shared by DeFi researcher Ignas, Hoffman shifted a portion of his portfolio to LIT, ZEC, NEAR, and VVV tokens after selling ETH. Compared to levels close to when Hoffman sold ETH, LIT and ZEC, in particular, have shown strong performance.

According to the data, LIT rose by approximately 369%, while Zcash (ZEC) increased by about 110%, and NEAR by approximately 54%. During the same period, Ethereum’s increase was limited to around 8%.

VVV, one of Hoffman’s preferred assets, performed negatively, losing approximately 6 percent of its value.

Hoffman’s ETH sale attracted attention in the crypto community at the time due to Bankless’s strong identification with the Ethereum ecosystem.

*This is not investment advice.

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Harmony has proposed closing its seven-year-old Layer 1 blockchain, issuing ONE on Ethereum and directing future token emissions to a new AI video project.

Summary

ONE balances would be recorded at Harmony’s final block and recreated as ERC-20 tokens on Ethereum. Users must leave smart contracts by Sept. 10 because applications and liquidity pools cannot migrate automatically. Harmony has reserved $1.372 million to compensate eligible validators and delegators over four quarters. The proposal follows an August exploit that created trillions of unauthorized ONE tokens and prompted a rollback plan. Harmony said in a Sept. 6 post that the mainnet’s exposure to “state actors” and “AI agents” has made continued operation too risky, leading the team to propose retiring the network it launched in 2019.

The plan remains nonbinding, and Harmony has not announced when it will produce the blockchain’s final block. The team also has not explained whether validators will decide the proposal through the network’s existing governance process.

Under Harmony’s published governance rules, a proposal must receive votes representing at least 51% of total stake weight. Approval requires support from 66.7% of the participating voting power after a seven-day introduction period and a 14-day vote.

Harmony would recreate ONE balances on Ethereum Rather than asking holders to exchange their tokens manually, Harmony plans to take a snapshot at the final block and distribute replacement ONE tokens on Ethereum. The ERC-20 version would go to the same addresses recorded in the snapshot, removing the need for individual claims.

The snapshot would cover ONE held in personal wallets, staking delegations, unclaimed validator rewards, smart contracts, and centralized exchange accounts. Harmony plans to coordinate with exchanges so that their existing ONE listings can move to the Ethereum-based token.

Delegated tokens and unpaid validator rewards would be handled separately through individual governor vaults. According to the proposal, the total ONE supply and its scheduled issuance rate would remain unchanged during the transition.

To allow outside review of the process, Harmony said it would publish the Ethereum token contract, snapshot calculations, and airdrop scripts. The project has not yet released the contract address or the final snapshot method.

While ordinary wallet balances would be included automatically, several types of holdings cannot be copied to Ethereum in their current form. Harmony said multisignature vaults, liquidity pools, and applications running on the mainnet would not migrate with the token balances.

Users have therefore been asked to withdraw from smart contracts before Sept. 10. Anyone who leaves assets inside a decentralized exchange pool, lending market, or another on-chain application could face complications because the protocol state and its related contracts will not be recreated on Ethereum.

For centralized exchange customers, the process will depend partly on each platform’s support for the migration. Harmony has proposed moving exchange-held balances and listings to the ERC-20 token, although it has not published a list of participating exchanges or their individual timetables.

Validators face separate shutdown conditions Beginning Sept. 10, validators would be allowed to turn off their nodes as the network prepares for its final block. Harmony has set aside $1.372 million for eligible validators and their delegators, with payments scheduled across four quarterly installments.

Eligibility carries several conditions. Validators must stop their nodes within the required period, retain their stakes, sign an agreement, and continue serving as governors after the mainnet closes. The pool would also cover the difference between the rewards earned at a validator’s last block and the rewards it would have received through the final network block.

Harmony has not disclosed how the $1.372 million will be divided among validators and delegators. Final payments may depend on stake levels and compliance with the proposed agreements, according to the terms described by the team.

Operators could later remain in governance or join Harmony’s planned “remix economy” as operators or affiliates. Future ONE emissions would fund the new AI video initiative, although Harmony said governors could still provide feedback on the arrangement.

Under the proposed model, video creators would publish prompts and related assets that fans could copy and alter. AI agents would turn the resulting branches into additional clips, while operators would manage video generation, distribution and content moderation.

Harmony said staking levels and service uptime would affect operator rewards. The project also plans to subsidize graphics processing hardware during the first year and has projected up to $1 million in combined operator revenue, subject to the service and staking requirements.

The business model includes a proposed $10 monthly subscription. Affiliates would receive a recurring 30% commission from users they refer, while Harmony estimated that advertising could produce tens of millions of dollars if the platform reached 1 million users. Both revenue figures remain projections from the project rather than confirmed income.

August exploit pushed Harmony toward a shutdown The retirement proposal follows an August security breach that produced unauthorized ONE tokens and forced the team to consider reversing several days of blockchain activity.

On Aug. 12, crypto.news reported an unauthorized mint after on-chain researcher Juiceberg estimated that almost 4 billion ONE had been created through empty blocks. The researcher claimed that about 2.8 billion tokens reached centralized exchanges, but Harmony had not confirmed either figure when it first disclosed the incident.

Harmony’s later investigation found that more than 3 trillion ONE had been generated through six transactions. The team linked the exploit to a weakness in cross-shard receipt verification that allowed valid receipts to be processed repeatedly without matching deductions elsewhere on the network.

One wallet connected to the activity attempted 534 transfers of 5 billion ONE within 106 seconds, according to Harmony’s reconstruction. Of the attempted transfers, 477 succeeded and moved a combined 2.385 trillion ONE.

Investigators traced the created tokens to standalone wallets, exchange accounts, decentralized exchange routers, liquidity pools, bridge contracts, wrapped ONE and staking wallets. Harmony said it contacted exchanges, bridges, and law-enforcement agencies while tracking the assets.

By Aug. 17, the team had proposed returning both network shards to checkpoints recorded at 11:25:37 p.m. UTC on Aug. 11. Shard 0 would keep block 92,730,034 and restart from the next block, while shard 1 would return to block 94,978,278 despite not being the origin of the unauthorized mint.

The rollback would remove 141,628 consecutive blocks from shard 0, including 109,126 regular transactions and 315 staking transactions. Harmony classified 104,545 of the regular transactions, or 95.8%, as automated activity, with almost 100,000 tied to decentralized exchange automation.

At the time, the team considered migration but said it would cause more disruption than a rollback. Less than a month later, moving ONE to Ethereum became part of the proposed mainnet closure.

U.S. holders may need detailed migration records For U.S. token holders, the migration may create tax-record concerns even if Harmony distributes ERC-20 ONE automatically. The IRS treats digital assets as property and requires taxpayers to report sales, exchanges, and other taxable disposals.

IRS guidance says exchanging one digital asset for another that differs materially in kind or extent can produce a capital gain or loss. Harmony describes the replacement as the same ONE token with unchanged supply and emissions, but the agency has not issued guidance addressing this specific mainnet-to-Ethereum migration.

U.S. holders may therefore need to preserve their original purchase records, wallet history, the final Harmony snapshot, and the value of the Ethereum token when received. Exchange customers should also retain any migration notices and Form 1099-DA information supplied by their platforms, since the IRS says taxpayers remain responsible for reporting taxable activity even when a broker does not provide a form.

Harmony had faced security problems before the August incident. In December 2023, the project disclosed that faulty staking logic had created 146.28 million ONE across 74 delegator addresses, prompting an emergency hard fork at block 51,118,080.

Its largest earlier loss came in June 2022, when attackers stole nearly $100 million from the Horizon cross-chain bridge after gaining control of keys used by its multisignature wallet. Harmony responded by raising its hacker bounty to $10 million and working with exchanges, analytics firms, and law enforcement.

A month after the bridge attack, developers proposed minting 4.97 billion ONE to reimburse affected users over three years. Community members opposed the resulting dilution, and Harmony later withdrew the plan in favor of a recovery program that would not add tokens through a hard fork.

Cardano founder Charles Hoskinson has reacted to the reported theft of 4,000 Bitcoin from the Liquid Network’s federation wallet.

Liquid confirmed the incident in an X post yesterday, stating that hackers siphoned approximately 4,000 Bitcoin worth $320 million from its federation wallet. According to the network, the attackers moved the funds through the SideSwap Peg-out Authorization Key (PAK) service.

However, Liquid and SideSwap both indicated that the PAK itself was not compromised. Instead, SideSwap said the L-BTC involved in the transaction originated from a vulnerability in Elements, the Bitcoin-derived software that powers the Liquid sidechain.

Following the incident, Liquid disabled its bridge nodes and paused network activity while federation members investigated the breach. Meanwhile, exchanges received notifications and began pausing, or preparing to pause, L-BTC deposits and withdrawals.

The transaction also contained an OP_RETURN message, in which the attackers, who claimed to be white hats, requested on-chain contact.

Hoskinson Warns of AI-Driven Cybersecurity Risks Reacting to the incident, Hoskinson used the breach to highlight what he sees as a growing cybersecurity threat from artificial intelligence.

He argued that formal methods may provide one of the strongest defenses against increasingly capable AI-driven attacks. As AI systems become better at analyzing source code, identifying vulnerabilities and automating sophisticated attacks, blockchain developers face an increasingly narrow window between the discovery of a software weakness and its exploitation.

AI has already begun changing the cryptocurrency security landscape by helping attackers identify potential targets, analyze complex code, and automate phishing and social-engineering campaigns. The reported Coldcard hack, which involved the theft of $130 million worth of Bitcoin, has further fueled concerns about how advanced AI tools could make difficult vulnerabilities easier to identify and exploit.

Against this backdrop, Hoskinson argues that conventional testing alone may no longer provide sufficient protection. Instead, he points to formal methods, which use mathematical specifications and proofs to establish whether software behaves according to its intended design.

Cardano’s Emphasis on Formal Verification Hoskinson’s warning also aligns with Cardano’s long-standing emphasis on mathematically rigorous blockchain development.

Cardano’s development philosophy incorporates academic research, peer review, and formal verification as important components of its security approach. Its Ouroboros consensus protocol, for example, emerged from formal academic research, while the broader ecosystem has emphasized proving critical properties of protocols and software rather than relying exclusively on experimental testing.

This approach supports Hoskinson’s argument because formal verification seeks to mathematically demonstrate that specified properties hold. As a result, developers can potentially identify entire classes of vulnerabilities before deploying code to production.

Cardano also relies on functional programming technologies such as Haskell and Plutus. Their strong type systems and mathematical foundations can help developers detect certain categories of programming errors earlier in the development process.

Notably, Cardano’s approach aims to prevent vulnerabilities before they reach production rather than relying solely on testing and conventional security practices. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.