The Starknet community has strongly supported exploring a transition from the Ethereum-based second-layer structure to an independent first-layer blockchain. In a seven-day preliminary vote that concluded today, over 93.5% of the votes cast were in favor of the proposal.
According to information shared by StarkWare, more than 2,800 wallets participated in the vote. The company stated that it did not participate in the voting in order to avoid influencing the community’s decision with its own votes.
The primary reason for the change in focus is post-quantum security. The team argues that even if Starknet makes progress in its own computational structure, it will remain dependent on the underlying network due to Ethereum bridge and data accessibility connections.
StarkWare CEO Eli Ben-Sasson said they aim to release a first draft of the technical document resulting from the research to the public in November.
However, the vote does not mean that the separation from Ethereum is final. A genuine transition proposal will also need to be prepared and resubmitted for community approval. According to the Starknet Foundation, whichever path is chosen, STRK will remain the native token, no new tokens will be issued, and Ethereum bridges will remain open.
*This is not investment advice.
Follow our Telegram and X account now for exclusive news, analytics and on-chain data!
Dogecoin (DOGE) holders have called for a $1 price for years. Now a new company says it will build the economy that goal would need.
Dogecoin Labs launched on October 21 in partnership with the Dogecoin Foundation. It brings the MyDoge wallet, the DogeOS app layer, and the Such App payments tool under CEO Jordan Jefferson.
Three Dogecoin Products Move Into One CompanyUnder the agreement, the nonprofit Foundation keeps its role in open-source development, advocacy, and community work.
Nasdaq-listed House of Doge (HODO) will move parts of its product, engineering, and commercial operations into Labs. In return, it takes an equity stake of undisclosed size, according to the announcement.
House of Doge is also giving up its exclusive Foundation partnership for a long-term license. That license lets it keep working with 21Shares on Dogecoin exchange-traded products.
The three products sit at different stages. MyDoge passed 500,000 users without paid acquisition. DogeOS opened its public testnet on September 30, and Such App remains in beta.
Follow us on X to get the latest news as it happens
A $1 Target Meets a Nearly 8-Cent Dogecoin PriceJefferson explained why Labs brought the three products together in the launch announcement. He tied the combined effort back to the community’s price goal.
“With DogeOS, developers can finally build applications on Dogecoin, and with MyDoge, they can put those apps in front of users from day one. The community has been saying ‘DOGE to $1’ for years. Our focus is to build the economy that ambition calls for,” he said.
So far this year, the price has moved away from that goal. DOGE traded at $0.0799 at press time, according to BeInCrypto Markets data.
Dogecoin (DOGE) Price Performance. Source: BeInCrypto MarketsThe price has fallen 21.43% over the past month. Since January 1, DOGE has lost 36.8% of its value. From current levels, a move to $1 would require a gain of about 1,150%.
Demand from exchange-traded funds (ETFs) has also turned. US spot Dogecoin ETFs posted $538,029 in net outflows from October 1 to 13, according to SoSoValue data.
The outflows follow September, when the funds drew $3.16 million. That was their largest monthly inflow since January, and it included a record weekly haul of $2.89 million, BeInCrypto reported.
On-chain data from Santiment shows that recent DOGE buyers now sit at a loss. The firm said the token’s 365-day Market Value to Realized Value (MVRV) ratio stands near 0.74.
A reading below 1 means recent holders are underwater on average. Santiment described the level as a historically lower-risk opportunity zone.
The next signals will come from two directions. SoSoValue’s weekly data will show whether ETF buyers return after October’s outflows.
Meanwhile, Labs plans to link Such App’s merchant tools with DogeOS, which remains in its public testnet. The company said the three products together lay the groundwork for DOGE payments at scale.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
TL;DR: Dogecoin Labs is bringing wallet, payment and application teams into one organization. House of Doge says it will contribute operations for an equity stake while retaining rights tied to investment products.
Dogecoin’s commercial development is getting a new organizational structure, with consumer products and application infrastructure being brought together under Dogecoin Labs.
House of Doge announced definitive agreements on Wednesday to contribute selected operations and assets in exchange for an equity stake. The arrangement links its product and engineering capabilities with MyDoge, DogeOS and the Such App payments business.
The release names Jordan Jefferson as Dogecoin Labs’ chief executive and identifies Alex Lewis and Dogecoin Foundation director Tim Stebbing among its leadership. It does not disclose the size of House of Doge’s equity holding.
A New Division Of Responsibilities
House of Doge says its previous exclusive commercial agreement with the Dogecoin Foundation has been replaced by a long-term license. It retains rights for its collaboration with 21Shares on Dogecoin investment products and for future tokenized alternative investments. Dogecoin Labs becomes the Foundation’s official commercial partner.
That separates two kinds of expansion. One is developing services that people use with DOGE. The other is building financial products and businesses around the asset. Bringing them under the same headline does not make their revenue models or users identical.
For developers, closer coordination could reduce the friction between a wallet’s distribution, a payment product’s merchant relationships and an application layer’s technical capabilities. A feature becomes more useful when people can discover it, fund it and use it without moving through several disconnected products.
The organizational change still has to produce that result. Combining teams does not by itself establish active usage, merchant acceptance or the security properties of future applications.
Nor is Wednesday’s agreement a change to Dogecoin’s underlying monetary rules. It is a corporate and product-development arrangement around the network.
The next evidence of its effect should come from delivered integrations and repeat usage across those products. The immediate news is the consolidation of commercial responsibility and the new relationship between the organizations building around DOGE.
At $0.0783, a single U.S. dollar buys about 12.77 Dogecoin. A $1,000 position therefore holds roughly 12,770 DOGE, and if the token ever reclaimed its May 2021 all-time high of $0.7361, that stake would be worth about $9,400 — a 9.4x return. The development behind that arithmetic is structural rather than speculative: on October 21, Dogecoin Labs announced its formation as the first dedicated commercial company for the Dogecoin ecosystem, consolidating the MyDoge wallet, the DogeOS application layer and the Such App payments tool under one roof.
Dogecoin’s challenge has never been liquidity or recognition. It is one of the most widely held digital assets, yet the number of products built specifically for it remains small next to the scale of its audience. Dogecoin Labs exists to close that gap by giving developers a place to build and a direct route to Dogecoin’s existing users.
What Dogecoin Labs Actually Is Dogecoin Labs is an independent organization established under an agreement with the Dogecoin Foundation, the not-for-profit steward of Dogecoin founded in 2014. The arrangement splits responsibilities cleanly: the Foundation keeps stewardship, open-source development support, advocacy and community work, while the new company concentrates on products, application infrastructure and commercial opportunities.
Leading the company is Jordan Jefferson, who founded both MyDoge and DogeOS. The Foundation’s product and technology assets, along with development expertise from House of Doge, move into Labs alongside MyDoge and DogeOS. Tim Stebbing, a Dogecoin Foundation director, joins as a director of the new organization.
“No other digital asset has Dogecoin’s combination of liquidity, community and cultural reach, and its potential has barely been tapped,” Jefferson said in the announcement. “We formed Dogecoin Labs to change that, bringing Dogecoin’s top builders together in one organization. With DogeOS, developers can finally build applications on Dogecoin, and with MyDoge, they can put those apps in front of users from day one. The community has been saying ‘DOGE to $1’ for years. Our focus is to build the economy that ambition calls for.”
The Three Products Under One Roof The consolidation pulls together three products that previously operated separately, each covering one part of a payments stack. Together they link developers, consumers and merchants.
Product What it is Status MyDoge Self-custodial Dogecoin wallet and consumer app 500,000+ users; V3 rolling out DogeOS EVM-compatible application layer for Dogecoin Public testnet live since Sept 30 Such App Merchant payment rails with invoicing and QR payments Beta; DogeOS integration planned MyDoge reached more than 500,000 users without paid acquisition and recently shipped its V3 update, which connects the consumer app to applications being built on DogeOS. DogeOS opened its public testnet on September 30, giving developers an EVM-compatible environment to build trading, DeFi, payments, gaming, AI and social products using familiar Ethereum tooling. Such App’s beta already supports selling goods and services for DOGE, including invoicing and in-person QR payments.
MyDoge has also taken Dogecoin into mainstream commerce: founding chairman Bill Lee tipped $600,000 in DOGE to acquire a team in Ice Cube’s BIG3 basketball league, at the time the largest recorded commercial Dogecoin transaction.
“Dogecoin has always been a currency for the people, shaped by an open community of developers and contributors,” said Tim Stebbing, director of the Dogecoin Foundation and Dogecoin Labs. “Dogecoin Labs creates a focused organization for turning the strength of this community into products people use, while preserving the principles and open development model at the heart of Dogecoin.”
What House of Doge Gives Up and Gets House of Doge (NASDAQ: HODO), until now the Foundation’s exclusive commercial partner, signed definitive agreements to contribute selected product, engineering and commercial operations to Dogecoin Labs in exchange for a strategic equity stake. Neither company disclosed the size of the stake or a valuation.
The exclusive agreement with the Foundation is replaced by a long-term license. House of Doge keeps the rights to continue its collaboration with 21Shares on the Dogecoin ETF (TDOG), the 2x Long Dogecoin ETF (TXXD) and the Dogecoin ETP listed on the SIX Swiss Exchange, and to develop future tokenized alternative investment products.
“This partnership strengthens House of Doge’s ability to execute our core growth strategy: tokenizing alternative investment products and unlocking value from our strategic investments in sports,” said Marco Margiotta, CEO of House of Doge, in the company’s release. “For shareholders, it creates a more efficient operating model and frees up capital to develop and scale investment products designed to generate revenue and drive long-term value.”
The Price the Market Is Attaching to the Announcement As of roughly 17:55 UTC on October 22, DOGE traded near $0.0783, down about 6.0% over 24 hours, against a broader pullback in which Bitcoin fell 4.1% to $81,182, Ethereum dropped 5.4% to $2,378.96 and Solana slipped 4.6% to $103.63, per CoinGecko data. Dogecoin’s market capitalization sat near $12.25 billion, around 11th among crypto assets.
The token trades about 89% below its May 2021 peak of $0.7361. The distance from that level frames the upside arithmetic: a return to the all-time high is a 9.4x from $0.0783, which at current supply would value Dogecoin near $115 billion. A move to $1.00 requires a 12.8x, or roughly a $156 billion market cap at current supply. A more modest 2x puts DOGE near $0.157. None of those figures is a forecast; they are the price math that the “DOGE to $1” debate ultimately rests on.
What the Formation Does Not Do The announcement does not change the Dogecoin protocol itself. Dogecoin Labs is a corporate and product consolidation, not a network upgrade: the underlying blockchain, its proof-of-work consensus and its supply schedule are unchanged. The release also names no mainnet date for DogeOS; the application layer remains on public testnet, and availability of any given application depends on the team building it.
Nor does the deal create a new token. Dogecoin Labs is being capitalized with intellectual property and product operations, and the Foundation retains its stewardship role rather than ceding control of the protocol or its trademark. The practical near-term question is execution: whether the three consolidated products can convert Dogecoin’s audience into paying users and merchants faster than they could separately.
Frequently Asked Questions What is Dogecoin Labs? Dogecoin Labs is an independent company formed in partnership with the Dogecoin Foundation to consolidate the MyDoge wallet, DogeOS application layer and Such App payments tool, with Jordan Jefferson as CEO.
Does Dogecoin Labs change the Dogecoin blockchain? No. The formation is a corporate and product consolidation. Dogecoin’s proof-of-work network, supply schedule and consensus rules are unchanged.
Does Dogecoin Labs have its own token? No. The announcement describes no new token. Dogecoin Labs holds product operations and intellectual property, while House of Doge received an equity stake in the company.
What is DogeOS? DogeOS is an EVM-compatible application layer for Dogecoin that lets developers build apps with Ethereum tooling. Its public testnet opened on September 30, 2026, with no mainnet date announced.
What does Dogecoin Labs mean for DOGE price? The announcement does not guarantee any price move. DOGE traded near $0.0783 on October 22, roughly 89% below its all-time high of $0.7361; returning to that peak would be a 9.4x from current levels.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Dogecoin is once again in the spotlight as large investors, commonly referred to as whales, significantly increase their holdings amid technical signals pointing to a potential bullish trend reversal. Recent market activity shows that major Dogecoin holders bought 600 million DOGE, worth approximately $48 million, within a 48-hour span.
Whale accumulation draws market focusThe surge in whale purchases was highlighted by DogeGod, who tracked the substantial inflow of funds into Dogecoin wallets. The accumulation has generated renewed attention, with traders and analysts evaluating whether this demand could provide the momentum needed for a broader price rebound.
Whale buying often influences sentiment, especially when it aligns with improving technical patterns. However, analysts caution that heavy buying alone does not necessarily confirm sustained accumulation or establish the whales’ long-term intentions. Closer analysis of wallet activity and exchange flows would help clarify whether these large holders are holding for the long term or positioning for a quick exit.
Dogecoin whales purchased an additional 600 million DOGE in two days, pushing significant funds into the market and causing observers to question how large-holder moves might affect price developments.
Technical analysis points to potential breakoutAlongside whale activity, key analysts are monitoring Dogecoin’s daily chart for bullish patterns. Trader Tardigrade identified similarities between Dogecoin’s current price movement and a previous bullish setup where DOGE broke above a descending trendline, retested that level, and then rallied further.
The analyst observed that DOGE has recently moved above a downtrend line and is now pulling back to retest this critical area, which previously acted as resistance. In technical terms, a successful retest where price holds above the former resistance could turn it into support, increasing the likelihood of renewed upward momentum. Conversely, a drop back below this level would weaken the bullish scenario.
Trader Tardigrade highlighted $0.1160 as a potential next target for DOGE if the breakout and retest pattern continues to play out, noting that active buying interest must persist to support a move toward this level.
Trading volume remains an important confirmation tool. Rising volumes during any uptick in price could signal broader market participation, while muted activity may indicate waning enthusiasm. Analysts also monitor ongoing support and resistance levels, momentum indicators, and price structure to assess the strength of the current setup.
Consolidation tools gain traction among tradersIn an environment where a single Federal Reserve decision or a rapid-fire altcoin listing can swiftly change market dynamics, many investors experience delays and added costs while moving between different platforms for market charts, news, and portfolio tracking. To address this, privacy-focused aggregation tools such as CryptoAppsy are gaining popularity among active traders. These solutions consolidate real-time charts, price alerts, coin-specific updates, and key macroeconomic data in one place, all without requiring account creation.
Despite the positive signals, both whale accumulation and technical patterns carry uncertainty. Past events have shown that neither guarantees a price rally, and historical formations can fail to produce the expected results. The sustainability of Dogecoin’s upward movement now depends on persistent buying by large holders as well as the coin’s ability to hold above the identified breakout area.
Short-term market direction will hinge on how price action unfolds around key technical levels and whether participants remain engaged. A successful retest above the trendline would reinforce the possibility of Dogecoin moving toward $0.1160, while a reversal below would undermine the bullish outlook.
Cardano Foundation has announced that Cardano Academy will teach Cardano fundamentals in the University of Nicosia’s online blockchain course and sponsor 25 places in its advanced track.
Summary
UNIC values the sponsored access at approximately €5,000, with advanced enrollment priced at €199.
The university lists Feb. 8, 2027, as the course’s next starting date.
Ripple, Avalanche and Trezor participate alongside Cardano in the university’s industry-led sessions.
A separate UCLA agreement will bring Academy material into a business course in 2027.
The Cardano Foundation said in its Oct. 22 announcement that the Academy’s teaching session will cover Cardano fundamentals and the extended unspent transaction output model, known as eUTxO. The Foundation described the program as a free university course beginning next spring, with sponsored access available for students taking the advanced track.
“We’re also sponsoring 25 spots in the advanced track,” the Foundation wrote in its announcement.
In a reply beneath the post, the organization said registration closes Nov. 2. Its announcement covers a teaching contribution and student sponsorships within UNIC’s existing Blockchain and Digital Assets course.
Cardano sponsorships cover access to the paid track
The University of Nicosia lists complimentary advanced-track access as the benefit attached to the 25 Cardano sponsorships. Its course page puts their combined value at approximately €5,000 and lists the standard upgrade price as €199. Multiplying the published fee by 25 gives €4,975, consistent with that rounded valuation.
According to UNIC’s course outline, the introductory track covers weeks one through eight, while advanced learners continue through week 12. The university lists John Greene, a Cardano Foundation technical writer who develops Academy scripts and animations, alongside Professor Apostolos Kourtis for the session on Ethereum and programmable blockchains.
On its partner directory, the Foundation describes UNIC as an education partner working on curriculum integration, joint research and developer education. The directory places the university alongside academic collaborators in the United States, Switzerland, Brazil and Argentina.
The Foundation’s description of the relationship covers university teaching and research, while the Oct. 22 post identifies the specific Academy session and sponsored student access.
UNIC includes several blockchain industry contributors
UNIC’s published syllabus assigns Trezor a role in wallet security, Avalanche participation in decentralized finance, and Ripple participation in tokenization and stablecoins. Cardano is therefore one of several blockchain organizations contributing to the course.
The university lists Feb. 8, 2027, as the starting date. Its advanced modules cover NFTs and digital ownership, regulation, blockchain scaling, and the convergence of blockchain, artificial intelligence, and connected devices.
Beyond Nicosia, the Foundation’s partner directory identifies several different forms of academic cooperation. It describes an international summer school with the University of Zurich Blockchain Center and research through Ledger Labs at PUC-Rio covering decentralized finance, DAO governance, digital assets and energy-sector applications.
The same directory identifies a Cardano Project Development Lab with the University of Brasília and an education and research partnership with Argentina’s Universidad Tecnológica Nacional. Those entries describe separate institutional programs with different teaching and research activities.
Cardano Academy material will enter a UCLA course in 2027
In the United States, the Foundation announced a multi-year agreement with UCLA Anderson School of Management’s Venture Accelerator on Sep. 28, as crypto.news previously reported in its account of the UCLA education partnership.
The Foundation’s announcement says Academy content and use cases will enter Blockchain Cryptocurrency Applications in Business and Finance beginning in 2027. Alex Nascimento teaches the course, with students expected to use the material in practical applications and project-based learning.
The agreement provides five sponsored fellowships for selected early-stage companies in UCLA Accelerate. According to the Foundation, fellows will receive funding, mentorship, and access to the Cardano ecosystem, while participating companies can explore building on the network.
A masterclass scheduled for Oct. 19 formed another part of the announced program. The Foundation described team exercises on Web3 business architecture, short pitches and AI-assisted smart contract development, with sponsored certification for successful participants.
The same announcement includes sponsorship of the 2027 UCLA Draper Innovation Showcase, covering educational programming, founder engagement and networking opportunities.
Earlier Academy programs covered business leaders and public-sector staff
At Cardano Summit in November 2025, the Foundation introduced an AI and blockchain course developed with the Blockchain Research Institute.
The announcement described five modules for business leaders, including AI in a Web3 world, generative AI and blockchain, and industry applications and case studies. Enrollment was offered through Cardano Academy, with access through Coursera for Cardano community members.
The published launch details specified a 12-month availability period. The program’s subject matter focused on business uses of AI and blockchain, with examples intended for people assessing those technologies inside organizations.
In March 2025, the Foundation’s Brazilian public-sector partnership with state-owned technology provider SERPRO included plans to make Academy training available to its 8,000 employees, more than 2,000 of whom were developers.
SERPRO and the Foundation identified blockchain education and public-sector digital infrastructure integration as areas of cooperation. The agreement followed a December 2023 education alliance with Petrobras that involved Cardano Academy initiatives.
Cardano’s public Dijkstra testnet has opened to stake pool operators ahead of node 11.2, which will support a planned test-network upgrade to protocol version 12 without Leios.
Summary
DijkstraNet currently runs node 11.1.3, with the protocol upgrade waiting for the next release. A separate MusashiNet prototype includes Leios, while formal node 11.3 development remains unfinished. Input Output estimates Leios activation will need voting keys covering roughly 90–95% of stake. Constitutional changes, BLS key management and ecosystem risk reviews remain part of upgrade preparations. Intersect said in its Oct. 22 Upgrade Bulletin #39 that DijkstraNet became publicly available after an Oct. 21 restart, inviting stake pool operators to begin joining before the next node release.
The organization described two parallel testing paths. DijkstraNet will use node 11.2 to test Dijkstra features without Leios, while MusashiNet gives downstream teams early access to a prototype containing the Leios-inclusive feature set.
The bulletin provided no mainnet activation date or required percentage of operators that must upgrade their node software.
Cardano DijkstraNet awaits its protocol version 12 upgrade Intersect said DijkstraNet currently runs protocol version 11, within the Conway era, using node 11.1.3. Once the node 11.2 pre-release becomes available, a hard-fork initiation action will be submitted to move the network to protocol version 12, known as Dijkstra.
For operators joining now, the bulletin directs participants to configuration files and a testnet faucet through Cardano book. Intersect listed one-day epochs and an available Kleioscan explorer among the network’s testing resources.
Node 11.2 remained in development when the bulletin was published, with a tagged version expected during the week. Intersect described its scope as:
“Includes the full Dijkstra hard fork feature set, apart from Leios”
The release is expected to clear LSM for mainnet use, with memory requirements estimated at approximately 12 GB when using LSM, according to the bulletin. Intersect said it was already working with operators to test LSM and gather feedback.
Cardano previously activated the van Rossem hard fork on July 18, moving mainnet to protocol version 11. The current bulletin concerns preparations on separate test networks, not another completed mainnet upgrade.
Leios testing proceeds separately on MusashiNet Intersect described the weekly RC 2026w42 pre-release as a Leios-based prototype containing the complete Dijkstra hard-fork feature set. Downstream tooling teams can use it on MusashiNet to explore integrations before the formal node 11.3 release.
For node 11.3 itself, the bulletin said substantial development work remained, and a tagged release was still at least two weeks away. Intersect presented the prototype as an early integration opportunity, without describing it as a finished release.
Input Output’s Oct. 20 rollout plan, previously reported by crypto.news, set initial Leios capacity targets at three to five times Cardano’s current transaction capacity, followed by later targets of 10–15 times.
The developer’s plan separates the hard fork from full Leios operation. Input Output said pools must register BLS voting keys after the fork, with roughly 90–95% of stake registered before Leios can begin operating.
Its proposed sequence then moves through mainnet load exercises and at least two protocol parameter updates, with capacity changes dependent on network results and governance approval. The throughput figures remain targets, not performance delivered by the public opening of DijkstraNet.
Earlier Intersect planning placed Linear Leios in Dijkstra’s first phase and Peras activation in a separate, later hard fork. The two-phase Dijkstra roadmap described its dates as estimates, with testing and governance able to affect the mainnet schedule.
BLS key management remains under discussion Intersect said developers were considering two ways to handle BLS key registration and rotation without requiring pool owners to participate in those operations.
The existing pool registration certificate mechanism requires signatures from the pool cold key and every pool owner, according to the bulletin. The proposed alternatives are a dedicated BLS key management certificate or permission to update BLS keys in pool parameters without owner signatures.
Intersect identified the second approach as the more likely option for Dijkstra, while noting that a more comprehensive solution could be deferred to the Euler era. The bulletin identified stake pool operators, wallet providers and tooling teams as affected participants.
On upgrade scope, Intersect confirmed that CIP-23 is fully included in Dijkstra. It said several operators had welcomed the development teams’ response to that long-standing request.
The organization reported that the Technical Steering Committee had reviewed an updated Leios impact assessment, which was expected to be merged into the Cardano Upgrades GitBook. Other assessments would follow after outstanding review comments were addressed.
Intersect asked downstream teams to compare the assessments with their own integrations and flag missing dependencies or impacts.
Governance and node diversity work continue Intersect said the Hard Fork Working Group had completed an initial walkthrough of the Dijkstra risk log. Each risk will receive an owner with editing access, and the log will gain a column for formal risk assessments.
Following discussions between the Parameter Committee and developers, an updated constitutional draft was expected during the week, according to the bulletin.
Intersect scheduled a constitutional update and guardrails meeting for Oct. 23 at 14:00 UTC, open to Constitutional Committee members, stake pool operators, and delegated representatives. The organization said the session would be recorded and shared afterward.
The bulletin listed a separate Node Diversity Workshop organized by the Amaru team for Nov. 12–13 at the London Marriott Hotel Canary Wharf. Its working agenda includes reviewing future hard-fork features through implementation costs and community needs to help inform how subsequent upgrades are scoped and prioritized.
Cardano founder Charles Hoskinson revealed on October 18, 2026, that he is personally developing a new programming language intended for the Cardano blockchain.
In a post on the social platform X, Hoskinson stated that the project is underway and that he is collaborating with another developer.
He characterized the language as the first of its kind, designed to support intents alongside proof-carrying data through the use of Groth16 proofs.
The collaborator identified by the handle @rvcas is Lucas Rosa, a software engineer associated with Input Output Global.
Rosa is recognized as a co-creator and maintainer of Aiken, an existing smart-contract language used on Cardano.
Public materials for Aiken list him among its authors, and his personal site notes a role connected to tooling for the Midnight project.
Cardano already offers developers two primary options for writing smart contracts:
Plutus, which draws from the Haskell functional programming tradition that underpins much of the network’s original design, and Aiken, a more recent alternative aimed at improving accessibility.
I'm actually personally developing a programming language for Cardano. It's the first of its kind, enabling intents and PCD via Groth16 proofs. @rvcas is building it with me
— Charles Hoskinson (@IOHK_Charles) October 18, 2026
Hoskinson’s announcement positions the new language as an additional tool rather than a replacement whose precise relationship to these existing options has been clarified.
At a conceptual level, the features Hoskinson highlighted address common challenges in blockchain application design.
An intent allows a user or application to declare a desired outcome—such as completing a token exchange only if a certain price condition is met—while leaving the precise sequence of intermediate steps to be determined by the surrounding system or other parties.
Proof-carrying data refers to a technique in which computational results are accompanied by cryptographic evidence that every preceding step satisfied the required rules.
A verifier can then confirm the entire history by examining a single compact proof instead of re-executing the full computation.
Groth16, the specific zero-knowledge proof system referenced, is a well-established construction published in 2016.
It generates proofs that consist of only three group elements, keeping them small enough for efficient verification on-chain.
Because the proofs are zero-knowledge, they can demonstrate that certain conditions were met without exposing the private inputs that went into the calculation.
Combined, these elements could enable applications to coordinate complex multi-step interactions and transfer verified information between services while limiting the data that must be revealed publicly.
Hoskinson has not released a name for the language, published any code, shared technical specifications, or indicated a development or launch timeline.
The announcement itself appeared as a reply in a broader discussion about Cardano’s characteristics as a decentralized foundation for applications.
Separate recent comments from Hoskinson have referenced ongoing conceptual work related to Midnight, a privacy-oriented companion chain, though no direct technical linkage between that effort and the new language has been detailed.
The disclosure adds another layer to Cardano’s evolving developer tooling at a time when the network continues to introduce features such as enhanced programmable token standards. Whether the language ultimately streamlines the creation of applications that rely on verifiable outcomes and privacy-preserving checks will depend on the concrete design choices that have yet to be made public.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Geneva, Switzerland, October 22, 2026 — TRON reinforced its position as a leading blockchain network for stablecoin settlement in the third quarter of 2026, with trillions in transaction volume, record USDT supply, growing payment card adoption, and the debut of the first U.S. spot staked TRX exchange-traded fund (ETF), according to independent research reports from CoinDesk Data and Nansen.
CoinDesk
CoinDesk’s TRON Network Quarterly Report: Q3 2026 provides a technical assessment of the TRON network from July to September 2026. The findings span network and ecosystem developments, core on-chain metrics, and DeFi activity across lending and decentralized exchanges (DEX).
Key Insights from CoinDesk:
Stablecoin Settlement: TRON accounted for approximately 73% of stablecoin transfer volume at the end of Q3 2026, the highest share among blockchain networks. Stablecoin Market Share & USDT Growth: USDT on TRON reached an all-time high of just over $92.7 billion in Q3 2026, lifting TRON’s share of the total USDT market to a 2026 high of 50.6% in mid-September. TRON’s share of total stablecoin market capitalization also rose to 30.2%. Crypto-Card Payments & DeFi Activity: TRON ranked first among chains by crypto-card payment volume in Q3 2026, capturing a 27.5% share worth approximately $638 million as total card volumes grew 60.5% QoQ to $2.32 billion. Total value locked (TVL) on the network rose 26.6% QoQ to $5.7 billion with lending the largest sector at 68%, and JustLend active loans up from $127M to $199M. Read the full report from CoinDesk here.
Nansen
Nansen’s TRON Quarterly Report: Q3 2026 examines the network’s settlement scale and on-chain behavior over the quarter. It covers stablecoin settlement volume, transaction and address activity, institutional developments, and how users and transactions are distributed across labeled entities on TRON.
Key Insights from Nansen:
Stablecoin Settlement at Scale: TRON settled $2.21 trillion in stablecoins in Q3 2026, with average daily settlement rising 3.9% to $24.05 billion. Cumulative transaction volume on the network also surpassed $30 trillion as of September 23. User Growth & On-Chain Activity: TRON’s user base continued to grow in Q3 2026, with average rolling monthly active addresses up 9.8% QoQ to 18 million, while the network processed an average of 11.68 million successful transactions per day. Expanded Institutional Access: Canary Capital launched the Canary Staked TRX ETF (TRXS), the first U.S. spot staked TRX ETF, on September 9, and TRON DAO rang the Cboe closing bell on September 29 to mark its debut. Anchorage Digital also added native TRX staking and TRC-20 custody as the second phase of its TRON integration. Read the full report from Nansen here.
Across both reports, TRON’s third quarter showed a network growing in volume and in reach at the same time. Stablecoin settlement continued to climb, everyday spending through crypto cards accelerated, and new regulated products gave institutions a direct path to TRX. With that foundation in place, TRON enters the final quarter of 2026 as a settlement network that is increasingly accessible to retail users and institutions alike.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. Today, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of October 2026, the TRON blockchain has recorded over 410 million in total user accounts, more than 15 billion in total transactions, and over $28 billion in total value locked (TVL), based on TRONSCAN. Recognized as the global settlement layer for stablecoin transactions and everyday purchases with proven success, TRON is “Moving Trillions, Empowering Billions.”
TRONNetwork | TRONDAO | X | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum
Media Contact
Yeweon Park
[email protected]
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
TRON has processed $2.21 trillion in stablecoin settlement during the third quarter of 2026, up 5.1% from the previous quarter, Nansen has reported.
Summary
$2.21 trillion in quarterly stablecoin settlement represents 5.1% growth from the previous three months.
1.07 billion successful transactions were recorded across the network during July through September.
Binance and OKX led labeled transaction activity, but the report provides no payments-versus-exchange dollar split.
TRON’s settlement figures do not include a matching quarterly comparison with Ethereum and Solana.
Nansen’s Oct. 21 report puts successful network transactions at 1.0748 billion for July through September, averaging 11.68 million a day. Its exchange rankings identify Binance and OKX among the busiest labeled entities, although the report does not provide a dollar breakdown separating payments from exchange-related transfers.
TRON stablecoin settlement rises from Q2
TRON DAO’s quarterly research lists settlement at $2.2126 trillion, compared with $2.106 trillion in Q2. Subtracting the published totals gives a gain of $106.6 billion, or approximately 5.06%, consistent with the rounded 5.1% growth rate.
The same research puts average daily settlement at $24.05 billion, up from $23.14 billion. The quarterly and daily growth rates differ because July through September contained 92 days, compared with 91 days in April through June.
Combined USDT and USDD supply reached $93.88 billion at quarter-end, the organization reported. Its network transaction total was approximately 1.10 billion, compared with Nansen’s 1.0748 billion successful transactions. Neither report supplies a reconciliation between those counts.
Earlier coverage provides a separate USDT-specific baseline. As crypto.news previously reported on Aug. 11, TRON handled $2.1 trillion in USDT transfers in Q2, based on Messari’s research.
Messari put circulating USDT on TRON at $87.9 billion, representing 98.5% of the network’s $89.2 billion stablecoin market. Ethereum’s USDT balance stood at $78.7 billion at that quarter’s close.
Those figures describe token balances at a point in time. They are not Ethereum or Solana settlement totals for the third quarter, and Nansen’s latest TRON report contains no equivalent Q3 volume table for either chain.
Exchange rankings leave the payments split unreported
Among entities Nansen labels, Binance recorded 39.7 million transactions, and OKX recorded 36.1 million. Bybit followed with 9.9 million, ahead of MEXC’s 8 million and Gate’s 4 million.
The report explicitly describes labeled entity counts as a subset of total activity. Its rankings measure transactions, not the dollar value transferred, and do not identify what percentage of the $2.21 trillion represented merchant payments or remittances.
Visa’s Onchain Analytics dashboard treats total and adjusted stablecoin activity as separate measures. The company says public blockchains support transfers initiated by people and automated programs, and some recorded activity does not resemble traditional settlement.
To account for that activity, Visa’s methodology filters inorganic transfers from bots and other practices that can inflate recorded volume. Its dashboard presents adjusted and unadjusted transaction values separately, alongside retail-sized transfers.
A Sept. 18 methodology update expanded the underlying address labels from roughly 15 million to 600 million, according to the dashboard’s changelog. The refresh lowered adjusted volume while reducing adjusted transaction counts by less than 2%.
The changelog describes a Solana program cycling stablecoins through thousands of disposable wallets as one pattern removed from adjusted figures. Visa did not present that example as an estimate of TRON activity.
TRON fees and token supply follow separate measures
TRON DAO reported $701.4 million in Q3 network fees, with average daily fees down 4% to $7.62 million. Its supply schedule recorded 360.2 million TRX generated and 234.5 million burned, leaving reported net issuance of approximately 125.8 million tokens.
The organization explains that users obtain Energy and Bandwidth through staking, while TRX is burned when available resources do not cover transaction costs. Its quarterly research therefore reports fees, staking, and token issuance separately.
During Q2, Messari recorded $699.4 million in fees and approximately 87 million TRX in net issuance. Its figures put the circulating token supply at 94.85 billion at the end of June.
US investors gained a listed TRX product in September
Canary Capital’s staked TRX ETF began its U.S. debut under the ticker TRXS on Sept. 9, as covered in the staked TRX ETF launch report. The product holds TRX and incorporates retained staking rewards into its net asset value.
The launch coverage described a primary objective of tracking the value of the trust’s TRX after expenses and liabilities, with earning additional tokens through staking as a secondary objective. The fund was designed to stake all its holdings substantially.
Before launch, September coverage of the Aug. 19 registration amendment detailed a 1.10% annual sponsor fee and staking fees capped at 20% of generated rewards. The filing’s proposed structure left the trust with the remaining 80%.
The prelaunch coverage noted that the trust would not register under the Investment Company Act of 1940, leaving investors without some protections available to registered investment companies. Its prospectus warned that ETF shares could trade above or below the value of their underlying TRX holdings, creating a premium or discount to net asset value.
The same prelaunch filing described creation and redemption baskets of 10,000 shares, with transactions using cash or TRX under the stated conditions. It named BitGo Bank & Trust as TRX custodian and U.S. Bank as cash custodian.
TL;DRJenner is scheduled for BSC testnet on October 28, 2026.Node operators must upgrade before activation.Changes include Payment Lane and millisecond timestamps.Jenner enables functionality for a new Compliant Asset Standard (CAS20)The Jenner hard fork introduces changes to payment capacity, native asset controls, and the timestamp information available to smart contracts on BNB Smart Chain (BSC).
Validators, node operators, block builders, and application developers should review the changes and prepare for testnet activation. This notice covers the upgrade requirements, included proposals, and compatibility checks.
Upgrade Scheduled & Required ActionJenner is scheduled for testnet on October 28, 2026. Confirmed mainnet timing will be announced separately.
All BSC nodes must run a compatible client release before their network’s activation. Check the release instructions for your client and network, including the exact activation time, before scheduling the upgrade.
For Chapel testnet operators using Reth, reth-bsc v0.1.3 is available for Jenner. Review its RPC compatibility changes before replacing the binary and restarting. Operators using the BSC Geth client should follow the release instructions for that client.
The official Jenner upgrade notice provides the reference for rollout updates and upgrade information.
What Changes in JennerPayment Lane: Reserved capacity for eligible paymentsBEP-703 introduces Payment Lane, which reserves 5% of each block’s gas capacity for qualifying payment transactions by default. Governance can adjust that share up to a protocol maximum of 10%.
Eligible payments include nonzero BNB transfers to accounts without code and eligible transactions sent to governance-listed payment contracts. The contract list starts empty, so stablecoins and CAS20 tokens require separate governance approval to qualify.
Payments can compete for capacity beyond the reserved share. General transactions cannot use unused payment capacity. Existing fee and transaction-ordering rules remain in place, and the reservation does not guarantee inclusion for an individual payment.
Payment providers should review the transaction eligibility rules. Block builders must account for the reservation when constructing blocks.
CAS20: Native asset controls, coming soonBEP-702 introduces the Compliant Asset Standard, CAS20, for assets such as stablecoins and tokenized real-world assets. It provides protocol-native token functionality with transfer policies, allowlists and blocklists, pausing, and separate mint, burn, and seizure roles.
Jenner includes the underlying capability. Token creation and policy-registry updates require separate activation by a governance-appointed administrator. CAS20 retains BEP-20 selector and event compatibility; its technical controls do not themselves establish legal compliance.
CAS20 is coming soon. A separate announcement will cover its availability, functionality, and integration details.
Millisecond timestamps for smart contractsBEP-706 adds a precompile at address 0x70 that returns the executing block’s timestamp in milliseconds. Applications can use it for timing-sensitive logic such as quote expiry, auction cutoffs, and price-feed freshness checks.
Contracts must explicitly call the precompile to use it. Existing block.timestamp behavior remains in seconds.
The change exposes finer timing precision already present in block headers. It does not change block speed or provide stronger timing guarantees than the existing validator-supplied block timestamp.
RPC compatibility & block builder updatesReth operators and teams using its RPC endpoints should review a compatibility change in reth-bsc v0.1.3. It applies immediately after upgrading, including before Jenner activates.
For eth_call, eth_estimateGas, debug_traceCall, and eth_simulateV1, a supplied blockOverrides.prevRandao must encode the millisecond remainder, from 0 to 999, as a 32-byte hex value. The time field remains in seconds. Overriding only time resets the millisecond remainder to zero.
The release also includes BEP-675 improvements to builder-proposed blocks: binary BidBlock submission over gRPC, stronger validation, and builder revocations that persist across restarts. These accompanying client improvements do not require a hard fork.
Review the Reth release notes for the full compatibility details.
Prepare for Testnet ActivationValidators and node operators: Check the applicable client release and activation time, review compatibility changes, and complete the upgrade before activation.MEV block builders: Verify Payment Lane gas accounting and review the updated BidBlock submission interfaces.Application developers and integrators: Check affected RPC overrides and test millisecond timestamp integration where relevant. Payment teams should verify eligibility rules, while CAS20 integrations should account for separate feature activation.Use the Jenner upgrade notice and your client’s release notes to track confirmed rollout details.
U.S. Bank completed a live cross-border transfer of its USBDC dollar-backed stablecoin on the Stellar network ($XLM) between its North American and European entities.
U.S. Bank has completed a live cross-border payment using USBDC, its proprietary dollar-backed stablecoin, on the public Stellar blockchain ($XLM). According to the bank's filing with the U.S. Securities and Exchange Commission, the pilot moved funds between U.S. Bank entities in North America and Europe and demonstrated the potential for 24/7 transactions.
The bank, the fifth-largest commercial lender in the United States, said the deployment ran on @StellarOrg while staying connected to its existing finance, risk, compliance and operations systems. LeapRate reported that U.S. Bank described USBDC as one of the first bank-issued stablecoins deployed on a public blockchain.
An internal treasury transfer, not a client paymentThe transaction was an intra-group movement of funds. Ledger Insights noted that it was not a client payment, which points to corporate treasury and the bank's own liquidity rather than consumer use.
That limits what the result shows. CryptoSlate said both ends of the payment stayed inside U.S. Bank's corporate structure, so the test did not involve settlement with an outside bank, merchant or retail customer.
The bank has not disclosed the amount moved or a commercial rollout date, according to crypto.news. It also did not announce public access to USBDC.
What the pilot testedBeyond the transfer itself, the exercise evaluated several issuer functions. The bank's filing says the pilot validated its internally developed Digital Asset Platform and assessed minting, payment redemption, freezing and clawbacks.
Stellar's own write-up says the effort follows an announcement last November that U.S. Bank was testing custom stablecoin issuance on the network. At that stage, Ledger Insights reported, the bank was building issuance capability rather than running live transactions.
U.S. Bank CEO Gunjan Kedia said the pilot shows the bank can speed up global cash management and money movement for clients within a regulated banking framework, per LeapRate. The bank is exploring liquidity management, collateral mobility and cross-border treasury uses as next steps, crypto.news reported.
For now, the pilot is a proof of concept for how a regulated U.S. bank can use a public network while keeping issuer controls in place, rather than a commercial stablecoin product.
SourcesU.S. Bancorp Form 8-K, third-quarter 2026 earnings release (SEC)
Stellar: A Bank-Issued Stablecoin Moves Real Money on Stellar
Ledger Insights: US Bank completes live cross border pilot of USBDC stablecoin
Crypto Rover, a well-known digital asset trader and YouTube personality, has unveiled a series of long-term price targets for several major cryptocurrencies, including XRP, Bitcoin, and Ethereum. His projections have generated significant attention across the crypto community due to their highly ambitious nature.
The Numbers on the TableAccording to Crypto Rover, XRP is currently trading at $1.34, but he anticipates a long-term price of $100 for the token. This target, representing an increase of roughly 7,363%, marks one of the most dramatic forecasts on his list, positioning XRP as a clear standout among the covered digital assets.
For Bitcoin, which presently trades near $82,792, Crypto Rover set a lofty $1 million goal, implying a 1,108% rise from current levels. Ethereum, at $2,439, was assigned a $50,000 target—a potential appreciation of about 1,950%.
Other tokens on his list included BNB at $739 with a $10,000 projection (1,252% upside), Chainlink at $12.19 targeting $2,000 (16,407% increase), NEAR Protocol at $5.00 with a $500 target (9,900% gain), Dogecoin at $0.0798 seeking $10 (12,432% surge), HBAR at $0.0822 with a $5 goal (5,985% rise), and Stellar at $0.179 with a $10 projection (5,487% increase).
AssetCurrent PriceCrypto Rover Target% IncreaseBitcoin (BTC)$82,792$1,000,0001,108%Ethereum (ETH)$2,439$50,0001,950%BNB$739$10,0001,252%XRP$1.34$1007,363%Chainlink (LINK)$12.19$2,00016,407%NEAR Protocol$5.00$5009,900%Dogecoin (DOGE)$0.0798$1012,432%HBAR$0.0822$55,985%Stellar (XLM)$0.179$105,487%Crypto Rover openly described his forecasts as seemingly unrealistic for most investors, characterizing the targets as based on conviction rather than cautious estimates.
Crypto Rover issued his bold projections for coins including $BTC, $ETH, $BNB, and $XRP, stating that his long-term price targets will sound insane to most investors, but he urged followers to keep these numbers in mind.
XRP Among Long-Term ProjectionsThe magnitude of these forecasts signals a view rooted in long-term market evolution. Crypto Rover did not specify any timeline for these targets, leaving open questions regarding when such price levels could be reached. His analysis seemed to assume major shifts in adoption, enhanced regulatory clarity, and substantial new capital entering the sector.
XRP’s $100 target stands out given the token’s focus on cross-border transactions and its high-profile legal proceedings in the United States. Ripple, the company behind XRP, has developed technologies aimed at improving global payments.
Mini dictionary: Ripple, a technology company, created the XRP Ledger and promotes the adoption of its digital asset XRP as an efficient vehicle for cross-border settlement. The firm has faced significant legal challenges regarding regulatory classification of XRP in the U.S.
Crypto Rover’s predictions received a broad spectrum of responses from the community. Some users questioned the omission of Solana, one of the largest digital assets by market capitalization, and asked whether this suggests negative prospects for the project.
Others described certain projections as surprisingly conservative, particularly for assets like Bitcoin, and expressed general concurrence with the ambitious targets set for altcoins. A few commenters suggested that additional analysis could lead Crypto Rover to revise his price targets higher for assets such as Stellar (XLM).
Some community members pushed back against the predictions, arguing that labeling projections simply as “long-term” provides insufficient context for meaningful evaluation.
In response to criticism, community members expressed views ranging from skepticism over the lack of timelines and missing assets to support for the conviction-based targets, illustrating deep divides on how to interpret such ambitious forecasts.
LG CNS, LG Group’s South Korean IT-service arm, is teaming up with Chainlink to develop digital asset infrastructure for local banks and financial institutions. The move targets stablecoins, tokenized securities and interoperability between blockchain networks, the companies said Thursday.
As part of the partnership, LG CNS will incorporate Chainlink’s oracle and cross-chain technology into its digital asset platform solutions for Korean institutions. The companies also plan to support the adoption and distribution of Korean stablecoins in a market with more than 11 million eligible users.
South Korea is one of the world’s most active digital asset markets, with technical and regulatory initiatives advancing. According to Chainalysis, the country’s crypto economy grew about 12% to $449 billion between July 2025 and June 2026, outpacing other East Asian markets.
LG CNS supports financial institutions in building blockchain-based digital asset services that integrate with existing financial infrastructure. The company is the lead contractor for Project Hangang, a Bank of Korea initiative focused on digital currency systems and bank participation.
“By combining LG CNS’s institutional expertise with Chainlink’s technology standards, this partnership establishes the foundation for compliant digital asset infrastructure in Korea,” Johann Eid, Chief Business Officer at Chainlink Labs, said. “Together, LG and Chainlink are providing Korean institutions with a secure and reliable foundation for moving tokenized money across systems and networks.”
Chainlink and LG CNS will work on technical standards for South Korea’s digital asset market, which could help financial institutions build systems that can support regulated digital assets and work across different networks.
“Korea’s financial infrastructure is entering the tokenization era. LG CNS is committed to leading this transition, and together with Chainlink, we aim to accelerate the growth of Korea’s tokenized securities market by enabling secure interoperability and real-world data, while creating a foundation for global expansion,” Hongkeun Kim, Executive Vice President and Head of the Digital Business Division at LG CNS, said.
LG CNS has developed blockchain-based financial infrastructure since 2015 and recently introduced KITL, a platform for institutional digital asset use cases.
The company has also partnered with the Canton Foundation to promote institutional adoption of the Canton Network in South Korea, including work with local banks and financial institutions.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Once a treasury team has identified a use case for choosing USDC as a settlement rail, the next question is practical: How do you actually put USDC to work within an existing treasury environment?
Simply put, USDC and the blockchains it runs on are nothing more than an additional rail to add to your already existing infrastructure. Adopting USDC does not mean replacing bank accounts, treasury policies, approval workflows, or accounting systems.
USDC is particularly useful when conventional rails create friction through settlement delays, banking cutoffs, pre-funded cash requirements, or complex cross-border routing. USDC can move onchain 24/7, while fiat remains available through bank accounts and on- and off-ramps at either end of the transaction.
This guide walks through the operating model: how to access USDC, configure controls, connect bank accounts, test transactions, reconcile activity, and put USDC to work in common treasury use cases.
Which treasury use cases can benefit the most from USDC?Before opening an account or moving funds, define the treasury problem you want to solve.
USDC is most useful when it produces a material improvement over the existing rail. The areas where USDC may offer the most benefits include:
Accelerate settlement and put cash to work sooner: USDC settles onchain 24/7, including weekends and holidays, enabling movements outside market hours to help reduce idle balances.Reduce cash buffers and unlock liquidity: Faster movement lowers reliance on pre-funded timing cushions so liquidity is available where and when it’s needed.Streamline cross-border payments with fewer uncertainties: USDC may reduce intermediaries and operating windows by acting as a settlement layer that bridges source and destination fiat rails.1Simplify multi-entity treasury flows with control: Move USDC directly between entity wallets while maintaining familiar approval and reporting processes.In short, start where speed, availability, cash mobility, or routing complexity creates a measurable operational problem.
How to access USDC: Circle Mint vs. exchanges and other platformsEnterprises can access USDC through different operating models. They can work directly with Circle, the issuer of USDC, or through other platforms.
How you access USDC depends on the platform type, since centralized exchanges and fintech payment apps each serve different user needs regarding custody, speed, and cost. On centralized exchanges, users can purchase USDC directly with fiat currency (such as USD via bank transfer or credit card) and rely on the exchange to manage private keys and hold the funds in centralized accounts. Fintech apps and payment processors often integrate USDC behind the scenes with simplified user interfaces, though they typically restrict direct onchain wallet transfers or self-custody options.
Direct access to USDC through Circle MintCircle-issued USDC lets you move digital dollars globally in seconds, 24/7, backed by transparency and institutional trust. If you choose to access USDC through Circle, the product to start with is Circle Mint.
Circle Mint provides eligible institutional customers with infrastructure to mint and redeem USDC, link bank accounts, receive dedicated wallet addresses, and send USDC onchain.
Accessing USDC through exchanges and wallet providersThe process to access USDC via other exchanges typically involves:
Opening an institutional exchange accountLinking fiat bank accountsSourcing USDC through the exchangeUsing exchange-hosted or external walletsRelying on the exchange’s available governance, reporting, and fiat railsTreasury teams may also use a separate wallet provider and source USDC through an exchange or other provider.
The right model depends on the level of direct mint and redemption access, wallet infrastructure, fiat connectivity, controls, and reporting you need.
Setting up USDC for treasury operationsThe foundational setup is familiar to most treasury teams. Work through these four steps in order.
Step 1: Onboard each legal entityComplete the required institutional onboarding and KYC/KYB process for each entity that will hold or transact in USDC.
The resulting setup should provide the entity with the account and wallet infrastructure required to receive, hold, and send USDC.
If multiple legal entities will participate in intercompany flows,set up each entity individually so activity isn’t treated as belonging to a single entity.
Step 2: Establish governance and access controlsBefore moving funds, define who can perform which actions. That can include:
Administrator rolesTransaction initiatorsTransaction approversApproval thresholdsTransaction limitsWallet-management permissionsControls for adding new users or wallet addressesThe objective should be familiar to any treasury organization: preserve segregation of duties and establish clear authorization before value moves.
Circle Mint supports user roles and approval policies; the specific controls available through exchanges or wallet providers may vary.
Step 3: Link your bank accountsConnect the operating bank accounts that will be used to move between fiat and USDC.
With Circle Mint, linked bank accounts can be used to deposit fiat for minting USDC and to receive fiat when USDC is redeemed.
With a separate wallet and exchange model, treasury teams will need to establish the appropriate path between the bank account, exchange, and wallet.
Step 4: Build your wallet address bookA wallet address serves as the destination for an onchain transfer.
Treasury teams should treat approved wallet addresses much like approved bank beneficiaries or payment templates. Relevant destinations might include:
Another entity within the organizationA vendor or counterpartyAnother institutional platformAn external walletBecause wallet addresses are unique identifiers, address verification is an important operational control. The Treasury-authored guidance recommends dual verification of wallet addresses before use.
Testing USDC transactions before you scaleDo not make the first transaction the largest transaction.
Once accounts, bank connections, permissions, and wallet addresses are configured, run a small end-to-end test. A basic test can follow three stages:
Onramp: Send fiat from a linked bank account and receive USDC in the designated wallet.Move onchain: Send a small amount of USDC to the intended destination wallet.Offramp: Redeem USDC into the intended fiat bank account if redemption is part of the use case.This helps validate the full operating chain (including bank instructions, wallet addresses, permissions, network selection, settlement, redemption, and reporting) before material funds are involved.
For any new external wallet address, a small test transaction is a recommended control before processing larger amounts.
USDC reporting and reconciliation for treasury teamsA successful USDC implementation should not create a parallel treasury universe. USDC activity should connect back into the same accounting, reporting, and reconciliation environment used for other financial activity.
Treasury and finance teams should determine:
How transactions will be recordedWhich system serves as the internal source of transaction dataHow wallet transactions map to ERP entriesWhich identifiers will support reconciliationWhat daily or periodic reporting is requiredWhich time zone will govern transaction cutoff and reconciliationCircle Mint can provide standardized transaction reporting, while exchange or blockchain-reporting solutions can provide alternative data sources. Onchain transactions also generate transaction identifiers that can be used to match activity back to internal records.
Because onchain transactions can occur 24/7, treasury teams should also define a consistent time zone for accounting and reconciliation.
How to use USDC for intercompany settlementIntercompany settlement is a natural starting point for organizations that regularly move liquidity between legal entities.
Month-end can be especially challenging. Different banking windows, time zones, settlement timing, and pre-funded balances can create delays and reconciliation overhead.
With USDC, participating entities can maintain their own wallets and, in supported corridors, transfer value directly between them.
Step by step: intercompany settlement with USDCOnboard participating entities: Each legal entity involved in the flow is established with the appropriate account and wallet infrastructure.Compile transaction instructions: Use the existing intercompany process (such as ERP or transfer-pricing reports) to determine source entity, destination entity, and transaction amount.Initiate the transaction: Submit the USDC transfers through the chosen interface or integration.Apply approvals: Approvers review and authorize transactions according to established treasury policy.Settle and reconcile: USDC moves onchain to the destination wallet. Each transaction generates a unique transaction hash that can be used to confirm settlement and map activity back to the corresponding ERP entry.The operating advantage is that the value can move without waiting for conventional banking settlement windows.
Circle’s own treasury team has used this model operationally, settling $68 million across 11 flows and eight entities in 30 minutes.2
Faster settlement can also keep strong controls intact: approval policies, dual authorization, transaction limits, and audit trails can remain part of the process.
How to use USDC for cross-border paymentsCross-border treasury flows often combine several types of friction: multiple banking relationships, correspondent routes, operating hours, currency conversion, and limited visibility into funds while they are in transit.
USDC can be used as a settlement layer between fiat rails at either end of the transaction.
Step by step: a cross-border USDC transferLink the relevant source and destination bank accounts: Establish access to the fiat accounts used at both ends of the transfer and confirm which local rails are available.Convert source fiat to USDC: Send fiat through the relevant rail and mint or otherwise acquire USDC.Transfer USDC: Move USDC onchain to the destination wallet, whether it belongs to another entity in the organization or an external counterparty.Redeem into destination fiat: At the destination, redeem USDC into the required bank account using the available local fiat rail.In this model, USDC acts as a bridge between two fiat systems, so the company doesn’t need to hold it indefinitely.
Using USDC for cross-currency paymentsThe same model can apply when source and destination currencies differ. Instead of relying exclusively on a traditional correspondent path, USDC can serve as an intermediate settlement asset between the source and destination fiat currencies.
Consider a U.S.-to-Hong Kong flow: fiat is used to mint USDC at the source, USDC moves onchain, and the stablecoin is then redeemed through local infrastructure at the destination. The result is a flow designed to compress a conventional multi-day transfer into same-day fiat settlement. Availability of local fiat rails remains an important consideration when designing this type of flow.
Stablecoin treasury controls for onchain settlementUSDC can fit within existing treasury governance, but onchain activity introduces operational characteristics that should be reflected in policy.
Wallet-address controls: Create procedures for validating and approving new wallet addresses. Consider verification by more than one person and use test transactions before sending material amounts.Network selection: Ensure the sending and receiving parties are using compatible supported networks before initiating a transfer.24/7 operations: Determine whether transaction authority is available outside traditional business hours and how after-hours activity should be governed.Transaction finality: Onchain transactions differ from conventional bank payments in how errors may be handled, so treasury procedures should therefore place particular emphasis on validating destination information before execution.Training: Treasury, finance, and other relevant teams should understand how stablecoin transactions differ operationally from traditional fiat transfers before production use begins.How to pilot USDC before expanding across treasuryA USDC implementation can begin small. A practical approach is to start with one well-defined use case or corridor where the existing process creates visible friction.
For an initial rollout:
Choose the use case: Identify a recurring flow where faster settlement, 24/7 availability, or improved liquidity mobility has measurable value.Define the entities and accounts: Determine which legal entities, bank accounts, and wallet addresses participate.Establish governance: Configure users, approvers, limits, and address-management procedures.Test end-to-end: Validate on-ramp, onchain transfer, off-ramp, reporting, and reconciliation with small amounts.Run in production with controlled volume: Begin with a defined transaction size or volume limit.Measure the result: Compare the new flow with the existing process using metrics such as settlement time, cash-buffer requirements, operational effort, and reconciliation performance.Expand selectively: Once the operating model is proven, evaluate additional entities, corridors, or treasury use cases.The goal is to use USDC where it improves the economics or operation of a specific flow, while maintaining the governance expected of an enterprise treasury function.
Your USDC treasury management checklistFor treasury teams, adopting USDC means adding a new settlement capability to familiar financial infrastructure. The core steps:
Identify the use case.Establish the appropriate account and wallet infrastructure.Configure governance and permissions.Link fiat bank accounts.Validate wallet destinations.Run small end-to-end tests.Connect reporting and reconciliation.Move into controlled production.Measure the treasury outcome.Expand where the model proves its value.With the right setup, USDC can give treasury teams another way to move value across entities and jurisdictions: 24/7, onchain, and alongside the banking relationships and controls already in place.
Learn more about USDC.
1 The regulatory treatment of cross-border stablecoin transactions varies by jurisdiction and may be subject to foreign exchange controls, reporting requirements, or licensing obligations in certain markets. Always confirm the applicable framework with qualified local advisors before initiating cross-border stablecoin flows.
2 Circle's Treasury Management Solutions
This guide is provided for general informational and educational purposes only and does not constitute legal, tax, accounting, or financial advice. The regulatory status, accounting treatment, and availability of USDC and related products vary by jurisdiction and are subject to change. Nothing herein confirms that any product or activity described is permitted, licensed, or authorized in any particular market. USDC is not a bank deposit and is not covered by government-backed deposit insurance schemes in any jurisdiction. Consult qualified local legal, accounting, and compliance advisors before making stablecoin adoption decisions.
USDC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. A full list of Circle’s licenses can be found here.
Circle is not a bank; Circle Mint is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any US or foreign government agency, insurance fund, person or entity.
If Bitcoin drops below $80,000, total long position liquidations on major centralized exchanges (CEXs) will hit $692 million.
According to Coinglass data, if Bitcoin falls below $80,000, the total long liquidation intensity on major centralized exchanges (CEXs) will reach $692 million. Conversely, if Bitcoin breaks through $83,000, the total short liquidation intensity on major CEXs will hit $1.025 billion. BlockBeats Note: Liquidation charts do not display the exact number of pending liquidations or the exact value of liquidated contracts. The bars on these charts actually represent the relative importance (intensity) of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the degree of impact when the underlying asset’s price reaches a specific level. A higher "liquidation bar" indicates that once the price hits that level, it will trigger a stronger reaction due to liquidity waves.
4 hours ago
Bitcoin falls below $81,000, with a 4.3% drop in the past 24 hours.
According to HTX market data, Bitcoin fell below $81,000, with a 4.3% decline in the past 24 hours.
4 hours ago
Pump.fun launches EVM limit orders, supporting take-profit and stop-loss functions.
Meme coin launch platform Pump.fun announced the launch of its EVM limit order functionality, claiming it is the first social trading application to offer take-profit and stop-loss features. The feature currently covers Robinhood, BNB Chain, Base, HyperEVM, Arc, and Ink, with more chains set to be integrated gradually.
4 hours ago
a16z Frontier has officially confirmed its continued focus on the crypto space, expanding its investment scope to include frontier technology startups.
a16z General Partner Chris Dixon has officially published an announcement renaming a16z crypto to a16z Frontier, expanding its investment scope from crypto startups to a broader set of frontier technology startups—those building new technologies, opening up new markets, and taking years to mature. Dixon emphasized this is a scope expansion, not a pivot; the team will continue investing in crypto and related businesses while advocating for reasonable crypto regulation. Dixon noted that as blockchain gains wider adoption, Wall Street and fintech firms have regularly launched on-chain products, making the "crypto company" label less significant. Companies should be defined by their core business activities, not the technology they employ. His remarks also touch on the ongoing AI wave: beyond using AI to speed up and enhance existing work, focus is on native new use cases emerging from AI, full-stack startups integrating hardware, software and services, and new networks connecting humans and intelligent agents. Dixon believes blockchain will still play a critical role in this space, serving as a fast, low-cost, global, programmable financial infrastructure for the internet. Stablecoins are becoming a standard tool for fintech firms and institutions, and can also support machine-to-machine transactions and the cold start of new networks. He will lead the fund alongside firm founders Marc Andreessen and Ben Horowitz, as well as general partners Eddy Lazzarin and Guy Wuollet. The operating team will continue supporting current and future portfolio companies in areas including regulation, market entry, talent, marketing and technology R&D.
4 hours ago
New York State Department of Financial Services issues alert over PHP vulnerability.
New York State Department of Financial Services (NYDFS) has issued alerts regarding two critical PHP vulnerabilities, urging regulated entities to promptly identify and remediate the vulnerabilities that are already being exploited.
4 hours ago
GMGN Co-founder: The self-developed cross-chain bridge is undergoing a small-scale volume test, and the APP will soon support buying multi-chain tokens with USDC.
GMGN co-founder Haze announced in a post that the project’s self-developed cross-chain bridge is currently undergoing small-scale volume testing, and will uphold its long-standing reputation for fast, secure, and stable transactions. Haze added that users will soon be able to buy any token across multiple blockchains using USDC through the GMGN app.
AEREDIUM, a digital asset infrastructure company, announced two products on October 22 that check what an AI agent may do before it does it. The Chair supervises coding agents. MCP Connector governs agents that make payments and trades. Both run through the company’s new AI platform, and AEREDIUM says they went live on October 13. A policy engine answers every proposed action with one of three outcomes: approved, denied or held for a person.
The launch lands as agents move from drafting text to touching real systems. Coinbase opened payment rails for AI agents to corporate clients in July, and in April the founder of a car-rental software startup said a coding agent deleted his production database and its backups in one nine-second API call, Decrypt reported. OWASP maps prompt injection to six of the ten categories in its Top 10 for Agentic Applications, Help Net Security noted in June. AEREDIUM CEO Albert Dadon frames the problem simply: the challenge “isn’t just making these agents more capable, but making sure they operate within the rules we set.”
How The Chair supervises coding agents
The Chair sits between an AI coding agent and an organization’s development environment, and it checks each tool call before the call runs. AEREDIUM says that covers executing commands, modifying files, merging code and pushing changes. Calls the organization’s rules already cover are approved or denied automatically. Everything else is held. Held requests land in a control panel, where authorized users approve or reject them, and each verdict produces a signed receipt that records what the agent attempted, which policy applied and who authorized it.
The product page adds detail the announcement leaves out. Every command is read twice, the second time by a model that asks twelve questions, among them whether the command reaches the network, installs anything, deletes or starts a machine. Where that second reading can’t rule out an act the policy forbids, the receipt says so. A Claude Code plugin handles integration, and a governed shell covers other agents, including OpenAI’s. Teams build policy by answering a questionnaire, not by writing code. After a 30-day trial, The Chair costs $10 per person a month, or $80 a year.
MCP Connector puts a wallet behind the rules
MCP Connector pairs the same policy engine with a digital asset wallet. Each agent gets its own wallet, its own policy and a designated owner. The owner picks the agent’s role, approves its mandate with a passkey and can halt or delete the agent at any time. Two roles exist today. A Payer can send USDC, USDT, PYUSD and EURC to addresses the owner has approved, but it can’t trade. A Trader can trade on designated exchanges inside its own wallet, but it can’t send funds out. The product page names Curve, Uniswap and PancakeSwap as the venues.
Custody is the central claim. AEREDIUM says the wallet signs with threshold signatures generated inside secure enclaves, so no complete private key is ever created and the company holds no key to the owner’s funds. MCP Connector supports Ethereum, Arbitrum and Base and keeps transaction records for seven years. It’s designed for Claude, and the company says it’s open to OpenAI and other frameworks. Plans start at $49 a month for three agents. Trades carry a 0.05% service fee, and transfers carry none.
Who it is for, and what isn’t proven yet
The Chair targets software teams that use AI coding agents, and MCP Connector targets organizations that let agents handle money. Signed, retained records also give audit and compliance staff something to check. Both tools belong to a wider build-out of agent infrastructure. Binance’s Agent OS, live since August 20, lets outside AI tools read account data and place supported trades with the user’s permission, and XDC Network picked Concordium as the identity verification layer for its agent payments marketplace on October 14.
Plenty is still unproven. The release names no customers, and neither product page cites an outside audit of the signing design. The Chair’s second reading is a model’s judgment, and the page gives no accuracy figures. Held requests also depend on someone answering them. Demand is the bigger unknown. TRM Labs’ September analysis called x402 the most widely used agent payment rail, yet put the share of its screened commerce that appears to be agentic at between 0.6% and 7.5%. And MCP Connector enables just two of the policy engine’s twelve roles so far.
The next signals are concrete: named customers, an independent review of the custody design, and data on how often the engine holds or blocks an agent in live use.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
GMGN co-founder Haze announced in a post that the project’s self-developed cross-chain bridge is currently undergoing small-scale volume testing, and will uphold its long-standing reputation for fast, secure, and stable transactions. Haze added that users will soon be able to buy any token across multiple blockchains using USDC through the GMGN app.
The OCC’s new stablecoin rule leaves Coinbase’s 3.75% USDC rewards open to challenge. Coinbase’s own filings show what losing them would actually cost.
Coinbase pays 3.75% on USDC to Coinbase One members in the US.
Posted October 22, 2026 at 3:40 pm ET.
Under the GENIUS Act, the stablecoin law Congress passed in July 2025, companies that issue stablecoins can’t pay interest to the people who hold them. Some exchanges pay holders anyway.
Coinbase (COIN) pays 3.75% a year to customers who hold USDC, the dollar-pegged stablecoin issued by Circle, as long as they belong to Coinbase One, its paid membership tier. Coinbase pays those rewards itself, and under a revenue-sharing agreement it receives a share of the interest Circle earns on USDC’s reserves.
Whether rewards programs like these violate the GENIUS Act’s ban on interest remains a gray area. Banks say they amount to the same interest paid another way, and have urged the Office of the Comptroller of the Currency (OCC) to tighten its rules on money passed to holders through partners. (Rewards were also a major sticking point in talks over the CLARITY Act, the broader crypto market-structure bill, which failed in September.)
On Oct. 21, the OCC, the federal regulator for nonbank stablecoin issuers, finalized its rule, effective Jan. 18, 2027, and dropped its proposed presumption that such payouts break the ban, choosing to judge each arrangement case by case. In other words, the OCC went the opposite way from the stricter test the banks wanted.
For Coinbase, that means, at least for now, its USDC rewards can continue unabated. The rule gives them no safe harbor, so they remain open to challenge.
For USDC holders, the 3.75% is not guaranteed. If the OCC decides Coinbase’s program is just a loophole to bypass the GENIUS Act’s ban on stablecoin interest, the payouts could be shut down.
For Coinbase shareholders, the question is how much of the company rides on those rewards. Coinbase fought to keep them: in January, CEO Brian Armstrong pulled the company’s support for a Senate draft of the CLARITY Act, objecting to “draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition” and other provisions. Stablecoins brought in $292.1 million in Coinbase’s second quarter, its 10-Q shows, about a quarter of its net revenue. Whether losing the rewards would hurt depends on two things: how much the rewards already cost Coinbase, and how much of its stablecoin revenue comes from USDC that earns no rewards at all.
The agency has kept the ban on issuers paying holders “any form of interest or yield” “solely in connection with the holding, use, or retention” of a stablecoin.
However, the rule also says a payment that reaches stablecoin holders through an intermediary “might be made, at least in part, for other reasons,” which could put it outside the ban.
Coinbase describes its rewards as “a loyalty program funded by Coinbase.” Whether that is enough is now the OCC’s call. The agency wrote that it “declines to presume that rewards programs that predated the GENIUS Act comply with the GENIUS Act,” so Coinbase’s program gets no grandfathering.
On payments more generally, the rule says “payments for bona fide services generally would not be prohibited” when no other facts point the other way, without naming any particular arrangement.
The agency added that as the payment stablecoin market evolves, it expects to gain enough real-world “experience with identifying prohibited transactions” to eventually propose a clearer rule defining its “yield prohibition.”
Rob Nichols, president and CEO of the American Bankers Association, said the result “will preserve the status quo for crypto platforms despite Congress’s clear intent to protect local lending.” Faryar Shirzad, Coinbase’s chief policy officer, posted that in the rule “there’s a lot to like.”
How the Money Moves
Circle (CRCL) earns interest on USDC’s reserves. Under its agreement with Coinbase, described in Circle’s IPO filing, Coinbase receives the reserve income on USDC held in Coinbase products, after a slice Circle keeps, plus half of what remains on most USDC held elsewhere. Circle said it paid about $819 million, or 59 cents of every revenue dollar, to distribution partners and transaction costs in the first half of 2026.
In the rest of the issue, subscribers get:
How much of what Coinbase earns on its customers’ USDC the rewards already eat, and how that changed
What happens to Coinbase’s stablecoin revenue if the rewards end, and how much customer USDC would have to leave for it to hurt
The one scenario that puts all $292 million of Coinbase’s quarterly stablecoin revenue in play, and who holds the leverage
Why Circle’s planned move to a New York trust company leaves open which rulebook judges USDC’s rewards
Bull, base and bear ranges for Coinbase’s stablecoin revenue after rewards, and the dates that decide them
Already a subscriber? Keep reading.
Why serious investors subscribe:
Clear thinking during macro regime changes
Fewer trades, better decisions
Avoiding one bad allocation often matters more than finding one great trade
Extended, a decentralized exchange built around perpetual contracts, has fully moved to Arc. Trading is live, with USDC and cirBTC as the accepted collateral.
How the move went down The migration took place on October 22, 2026, at 13:00 UTC. Extended shifted its settlement infrastructure from Starknet to Arc, carrying approximately $120 million in total value locked (TVL) with it.
Open positions and orders came along intact. Traders did not need to close out and rebuild their books on the other side.
Deposits and withdrawals did pause briefly during the transition. Both have since been restored.
The collateral menu changed, though. On Arc, Extended now accepts native USDC as its main collateral and cirBTC as its Bitcoin collateral asset.
cirBTC is a token issued by Circle and backed 1:1 by Bitcoin.
Two familiar assets did not survive the trip. USDT and wBTC are not supported on Arc.
Users holding more than $1 of USDT or wBTC had to act by October 21, 2026. They could either withdraw or convert into USDC or cirBTC at a 1:1 rate plus a 0.50% premium.
ETH holders got off easier. Their balances converted automatically to wETH during the migration.
What Arc brings to the table Arc is Circle’s EVM-compatible Layer 1 blockchain. The network launched its mainnet on September 16, 2026. Extended’s arrival comes roughly five weeks later.
Arc offers sub-second deterministic finality. Gas fees on Arc are paid in USDC.
The validator lineup includes founding validators such as BlackRock, DTCC, ICE, Visa, and Mastercard.
Extended also gains access to Circle’s Cross-Chain Transfer Protocol (CCTP). CCTP lets USDC move natively between blockchains, rather than relying on wrapped versions issued by third-party bridges.
The Circle partnership and Extended’s track record The migration is described as the first step in a broader partnership between Extended and Circle.
Extended reports more than $200 billion in lifetime trading volume across multiple asset classes, including traditional stocks and digital currencies.
What this means for traders and the perps market For existing Extended users, the immediate changes are practical. Collateral options narrowed to USDC and cirBTC, and anyone still holding USDT or wBTC had to make a decision before the October 21 deadline.
The 0.50% conversion premium sweetened that deal. Exchanges rarely pay users to switch assets, so the incentive suggests Extended wanted the collateral base consolidated quickly and cleanly.
The things to track from here: whether TVL grows beyond the approximately $120 million that made the trip, how cirBTC adoption develops as Bitcoin collateral, and what the next phase of the Extended and Circle partnership actually delivers.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Zcash Foundation has released Zebra 7.0.0 with NU7 mainnet support, telling node operators to upgrade before block 3,543,405, expected around Nov. 5.
Summary
Mainnet operators must upgrade before activation to remain on the consensus chain.
Zebra 6.4.x releases are scheduled to stop operating days before the upgrade.
NU7 introduces 25-second blocks while preserving the scheduled daily issuance of ZEC.
The foundation says Zebra 7.0.0 includes fixes for five security advisories.
Zcash Foundation said in its Oct. 22 announcement that mainnet operators must install the upgrade to remain on the consensus chain, while older 6.4.x releases will stop themselves days before activation.
“All Mainnet operators MUST upgrade before height 3,543,405 (~Nov 5) to stay on the consensus chain.”
The foundation listed 25-second blocks, a Network Sustainability Mechanism, and fixes for five security advisories among the release’s features.
Zebra operators face an earlier shutdown
The foundation’s Oct. 6 engineering update put the expected shutdown of Zebra 6.4.x around Nov. 2. Developers shortened the software’s operating period from 15 weeks to 12 weeks to bring that halt ahead of the planned network upgrade.
In the same update, the engineering team said expiry calculations and synchronization estimates had been adjusted to follow the block time in effect at each height. Without that adjustment, faster block production could make software stop earlier than intended.
NU7 reached public testnet at block 4,465,026 on Oct. 4, the foundation confirmed. The testnet activation introduced the consensus changes for observation before mainnet deployment.
As crypto.news previously reported on Oct. 21, developers had selected the mainnet activation height after an Oct. 20 meeting of ZIP editors. At that reporting cutoff, the change still awaited integration into the deployment specification.
The current ZIP 259 text now lists mainnet block 3,543,405. Its compatibility rules say upgraded nodes will disconnect peers advertising an older network protocol version after activation.
The specification warns that unsupported software can remain online and follow a pre-NU7 consensus branch. It does not establish how many operators are still using incompatible software.
Zcash targets faster confirmations without faster issuance
ZIP 218 sets the new block target at 25 seconds, down from 75 seconds. Its authors identify payments, exchange deposits, and cross-chain operations as uses affected by the wait for confirmations.
The proposal does not advise clients to cut their confirmation counts. Its discussion of rollback risk distinguishes between security models, including models based on an attacker’s share of mining power and those based on the economic cost of reversing a payment.
The foundation’s Oct. 2 release-candidate explanation says daily scheduled issuance stays unchanged because the software divides scheduled block rewards by three and adjusts the remaining halving intervals.
Its description retains the four-year halving schedule and the 21 million ZEC supply cap. Faster block production therefore does not mean the scheduled daily mining subsidy triples.
The September coinholder poll recorded roughly 99.9% support for shorter block spacing and 98.9% support for preserving halvings. Nearly 2.4 million ZEC participated, representing around 66% of eligible Ironwood balances at the snapshot, according to the published results covered on Sep. 16.
Voting closed on Sep. 14 after balances were recorded at mainnet block 3,459,350 on Aug. 24. Eligibility depended on spendable shielded funds held in Ironwood at that snapshot.
NU7 redirects fees into future mining rewards
The foundation’s release-candidate explanation describes a split in which 60% of transaction fees leave circulation for a reserve, while miners keep the remaining 40%.
Under the Network Sustainability Mechanism, the reserved funds can return gradually through future block rewards. The Oct. 21 activation coverage identified mainnet block 8,939,664 for the start of reissuance, expected around February 2031.
Coinholders had favored that timing with approximately 96.6% support in September’s poll. The deployment specification lists the reissuance height separately from the NU7 activation height.
The Oct. 2 technical explanation gives mining pools a related instruction. Because a coinbase transaction depends on selected transaction fees and the parent block’s reserve, miners should request a fresh block template instead of changing its transaction set or previous block themselves.
The foundation described shielded activity limits covering individual pools and a shared budget across pools. Its engineering update says those restrictions are designed to protect light wallets from spam while the network produces blocks more frequently.
ZIP 218 places the shared shielded budget at 330 actions per block, alongside separate pool limits. Its authors estimate that the changes cut worst-case daily light-wallet synchronization bandwidth from 271 megabytes to 169 megabytes, a reduction of roughly 37%.
The proposal notes a separate privacy trade-off. More frequent blocks give observers finer timing information, which can be combined with observations from networks or applications. Its authors say the new limits do not prevent traffic analysis or eliminate denial-of-service risk.
Sprout funds face a separate spending deadline
The Oct. 5 testnet coverage described another NU7 change affecting funds in Sprout, Zcash’s original shielded pool. Disabling version 4 transactions prevents spending those funds after activation unless holders move them beforehand.
ZIP 259 specifies that the prohibition applies to every version 4 transaction, including transparent-only and Sapling transactions. Saved transactions signed offline require the same activation checks.
The specification says versions 5 and 6 keep their existing structures, but their signatures commit to a consensus branch identifier. An unchanged transaction format does not guarantee a transaction remains valid across activation.
Bitcoin fell below $82,000 as a sell-off in technology stocks and renewed conflict in the Middle East weighed on markets. Its intraday loss reached 2.9%, with the price sliding to $81,650 in its sharpest decline in two weeks. With oil prices rising roughly 3%, losses across most major cryptocurrencies exceeded 2%.
Third-quarter results from Tesla and Meta brought questions about artificial intelligence spending back into focus. Shares in both companies fell roughly 3% in premarket trading. Chipmaking equipment supplier Lam Research, meanwhile, warned that supply chain bottlenecks could affect its revenue outlook despite beating expectations in its fiscal first quarter. Its shares dropped 8% before the market opened.
The sell-off also spread to Asian markets. Chinese stocks entered a bear market, while Hong Kong’s Hang Seng index fell more than 3%, South Korea’s Kospi declined 3.5%, and Japan’s Nikkei 225 dropped 2.7%. Around 90 minutes before U.S. markets opened, Nasdaq 100 futures were down 1.7%, while S&P 500 futures had lost 1%.
ETF inflows continue, but a sustained rally requires consistent demandDespite falling prices, demand for U.S.-listed spot Bitcoin ETFs recovered. According to SoSoValue, the funds recorded more than $1 billion in net inflows over the first three trading days of the week. Giottus CEO Vikram Subburaj said early signs of improving institutional demand were emerging, but inflows would need to continue before a stronger recovery could be confirmed.
Historical data shows that ETF demand was higher and more consistent during Bitcoin’s strongest rallies. Between January and March 2024, Bitcoin rose 79%, with average daily net inflows of $294 million. During the 96% rally from August to December 2024, that figure stood at $202 million, while the 53% advance between April and July 2025 was accompanied by average daily inflows of $248 million.
Across the combined 199 trading days in these three periods, the funds attracted $46.7 billion. Average daily inflows reached approximately $235 million, exceeding $500 million on 39 days and $1 billion on six days. By comparison, daily inflows have averaged roughly $86 million since July 1. Only seven days during that period recorded inflows above $500 million, and none reached $1 billion.
In derivatives markets, trading volume increased while the dollar value of open interest declined. Crypto derivatives volume rose 19% to $226.6 billion, and liquidations climbed 52% to $431.1 million. Open interest fell 2.46% to $141.8 billion. The relatively even split between long and short positions indicated that liquidations were not concentrated entirely on one side of the market.
The decline in the value of Bitcoin and Ether open interest largely tracked their price losses. In contrast, open interest in ZEC, NEAR, UNI, LINK, and SUI fell faster than prices, indicating more pronounced position closures. Open interest increased in contracts linked to gold, tokenized gold, silver, and crude oil.
Altcoin losses deepen as Monero breaks away from the marketAltcoins suffered steeper selling than Bitcoin. The CoinDesk 80 index fell 3.2%, while the CoinDesk 5 index declined 2.5%. Ether lost 2.6%, falling to around $2,400. Despite Solana’s Alpenglow upgrade going live overnight, SOL dropped 2.4% to trade at approximately $104.
The DeFi sector fell 5.6%, making it one of the hardest-hit areas. Curve dropped 8.2% to $0.37, while Ethena declined 7.2% and Uniswap lost 5%. Ethena’s monthly loss reached approximately 25%, while Uniswap fell roughly 20% in October despite recording all-time-high trading fee revenue in September.
Celestia declined 3.7%, bringing its weekly loss to 9% and reducing its monthly gain to approximately 31%. The project is scheduled to unlock 5.58 million TIA on October 31. LayerZero fell 4.2%, Worldcoin dropped 7.3%, The Sandbox declined 5.1%, and Starknet lost 6.1%. The Pump.fun token also fell 6%, taking its monthly loss to roughly 19%.
Monero bucked the broader market, rising 4.9% to approximately $651. With its monthly gain reaching around 19%, XMR futures open interest exceeded $300 million this week, approaching January’s record. Another privacy-focused cryptocurrency, Zcash, fell 4.8% to approximately $1,252.
MemeToro aims to enter the meme coin market with an AI-powered platformThis backdrop in altcoins makes a project’s stage of development another consideration alongside price when assessing new investment opportunities. One early-stage option in the meme coin sector, MemeToro ($MT), is developing an AI-powered token launch platform on BNB Chain. Its approach centers on making the process of selecting new meme coin ideas and setting their launch terms publicly accessible.
In the proposed system, an AI agent scans news and trending topics on X to generate meme coin ideas and publishes the reasoning behind its selections. Supply, pricing, and funding terms are recorded in a document prepared for each project. These terms are intended to be enforced through a smart contract called FairLaunchEscrow; the AI is not expected to manage investor funds directly.
The project’s GitHub repository makes the AI component, draft contract, and tests available for review under the MIT license. However, the team describes the project as still being in the initial product and architecture development stage. According to the repository’s documentation, there is no functioning end-to-end token launch system yet. Token creation, liquidity provision, testnet deployment, and independent security reviews remain on the roadmap.
According to the token allocation, 71% of the total supply of 1.2 billion MT, or 852 million tokens, has been set aside for the public sale. The team allocation is 2%, with the remaining supply distributed among exchange reserves, marketing partnerships, MemeToro Trading, and rewards. The marketing partnership allocation has a 24-month vesting schedule.
According to the presale information published by the project, MT is being offered at $0.00649 per token in Stage 9. The sale model предусматриes higher prices in subsequent stages. However, this is a presale pricing mechanism; it does not mean the token will follow the same trajectory once it begins trading on the market.
On security, it is also necessary to distinguish between the token and the platform under development. According to MemeToro, the MT token contract has been audited by Coinsult, SolidProof, and BlockSAFU. However, independent audits of the token launch and funding contracts have not yet been completed. The team’s use of pseudonyms and the product’s early stage are additional factors to consider.
With ETF inflows so far unable to halt selling pressure on Bitcoin, altcoin losses show that new projects are also preparing to enter a difficult market environment. For MemeToro, the decisive factors will be turning its published code into a working product and completing the contract audits. For those interested in examining the project at an early stage, its open-source code and development roadmap provide a concrete starting point. Full details: memetoro.com
The listing gives Nexo’s loyalty token a new home on one of crypto’s longest-standing exchanges, open to both retail and professional traders.
Kraken has listed NEXO, the native token of digital asset wealth platform Nexo, adding a well-established venue to the token’s trading footprint. Trading opened on October 22, 2026, at 3:00 PM UTC across three pairs: NEXO/USD, NEXO/USDT and NEXO/USDC.
The token is available on both Kraken and Kraken Pro, so everyday users and more advanced traders can access it through the interface that suits them.
“Kraken adds another established venue for our native NEXO Token and brings it to a broad base of consumer and professional traders,” said Yasen Yankov, Chief Product Officer at Nexo. “Clients now have yet another established place to trade NEXO, and we are proud to have our token on one of the most respected exchanges in the digital assets space.”
Flexible Ways to Trade
The mix of fiat and stablecoin pairs lets traders choose how they enter and exit positions. The USD pair suits those who prefer trading directly against dollars, while the USDT and USDC pairs serve users who already hold stablecoin balances and want to stay within digital asset markets.
For current holders, the listing adds another venue for buying and selling. For newcomers, it offers a route to NEXO through an exchange they may already use.
A Token Built Around Platform Benefits
NEXO launched in 2018 and has been central to Nexo’s ecosystem ever since. Its main role is in the company’s loyalty program, where eligible holders can unlock benefits such as lower borrowing rates and fee-free transfers.
That gives the token two distinct functions. Inside Nexo, holding it can unlock loyalty benefits. On external exchanges like Kraken, it trades as a market asset. The Kraken listing expands the second function without changing the first: the loyalty program and the token’s existing utility remain the same, and no new features were announced alongside the listing.
Why Exchange Access Matters
For utility tokens tied to a specific platform, availability on major exchanges allows users to acquire and sell the asset independently of the platform where its benefits apply. Broader access can support a token’s market presence and make it easier for new participants to get involved.
Listings do not, on their own, guarantee deeper liquidity or sustained demand. Those depend on trading activity, market conditions and investor interest, and the announcement did not include projections for volume or liquidity.
Looking Ahead
The Kraken listing reflects Nexo’s ongoing effort to make its token available across a wider range of trading platforms while preserving its role within the company’s services. With NEXO/USD, NEXO/USDT and NEXO/USDC now live, holders and prospective buyers have one more established place to trade the token. How much the new access point shifts trading activity or adoption will become clearer in the weeks ahead.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
Nexo, the premier digital assets wealth platform, and Kraken, one of the world’s longest-standing and most secure crypto platforms globally, today announced that the NEXO Token is available to trade on Kraken
The listing is an access milestone, with the NEXO Token now available for trading on Kraken, adding another major venue for users to trade the NEXO Token. The new listing broadens the market infrastructure around the token, giving both retail and professional traders a wider choice of where to access it.
Key information:
Trading with the NEXO Token is live on both Kraken and Kraken Pro.Available pairs: NEXO/USD, NEXO/USDT and NEXO/USDC.Trading opened at 3PM UTC on October 22, 2026. About the NEXO Token: The NEXO Token is Nexo’s native token, which launched in 2018. It underpins the company’s loyalty program, through which holders can access various benefits on the Nexo platform such as reduced borrowing rates, fee-free transfers and more.“Kraken adds another established venue for our native NEXO Token and brings it to a broad base of consumer and professional traders,” said Yasen Yankov, Chief Product Officer at Nexo. “Clients now have yet another established place to trade NEXO, and we are proud to have our token on one of the most respected exchanges in the digital assets space.”
About Nexo
Nexo is a premier digital assets wealth platform designed to empower clients to grow, manage, and preserve their crypto holdings. Our mission is to lead the next generation of wealth creation by focusing on customer success and delivering tailored solutions that build enduring value, supported by 24/7 client care.
Nexo has operated since 2018 and serves clients in more than 200 jurisdictions. Over $465 billion has been processed across the group since inception. Nexo’s all-in-one platform combines advanced technology with a client-first approach, offering yield on digital assets, crypto-backed loans, trading tools, and liquidity solutions, including a crypto-backed card in certain markets.
Website: nexo.com
Media contact
Nexo Communications team | [email protected]
Disclaimer: Information in this announcement is for general informational purposes only and does not constitute investment, financial, legal or tax advice. Digital asset prices are volatile and may fluctuate significantly, and the principal amount invested is not guaranteed and may be lost in part or in full. No returns are guaranteed. Availability of the NEXO Token on Kraken, and of Nexo services and features, varies by jurisdiction, eligibility and loyalty tier, and is subject to change
A crypto-asset white paper for the NEXO Token has been published on nexo.com.
This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The person seeking admission to trading of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Coinbase plans to suspend trading for Ampleforth Governance Token (FORTH) on November 23, 2026. The cutoff is set for approximately 2 PM ET.
Holders can still withdraw their tokens after that point. They just won’t be able to trade them on Coinbase.
FORTH is not exactly leaving a thriving party. Forth DAO, the community behind the token, approved a wind-down in September. Several other exchanges have already shown FORTH the door.
What Coinbase is changing The suspension covers Coinbase’s main venues: Coinbase.com, Coinbase Exchange and Coinbase Prime. FORTH has already been moved into limit-only mode across those platforms.
Limit-only mode is the exchange version of last call. You can still place a limit order, which is an instruction to buy or sell at a specific price you choose. You can also cancel one.
What you can’t do is place a market order. That’s the “just fill it now at whatever the going rate is” button most casual traders use.
Once November 23 arrives, even that narrower window closes. Withdrawals remain available, so anyone holding FORTH on Coinbase keeps access to their tokens. They’ll simply need to move them elsewhere to do anything with them.
As for why, Coinbase said FORTH did not meet its listing standards following a review. The exchange did not say which standards the token failed or how.
A token already on its way out The Coinbase decision lands at the tail end of a broader exit. Forth DAO voted to approve a wind-down on September 18, 2026.
As part of that process, the DAO has planned a USDC distribution. The snapshot for that distribution is planned for December 1, 2026.
A snapshot is a record of who holds what at a specific moment. Projects use it to decide who is entitled to a payout.
Other exchanges moved first. CoinSpot delisted FORTH effective October 8, 2026. Binance and other platforms removed trading support for the token earlier in 2026.
The price reflects that trajectory. FORTH is currently trading in a range of $0.24 to $0.35. That represents a significant decline from its previous highs.
Why the timing matters for holders The calendar is the story for anyone still holding FORTH. Coinbase’s trading suspension takes effect on November 23. The DAO’s USDC distribution snapshot is planned for December 1, about a week later.
Those are two separate processes run by two separate parties. Coinbase controls whether FORTH can trade on its platform. Forth DAO controls how the wind-down distribution works.
Holders with FORTH sitting on an exchange may want to confirm how the planned distribution treats exchange-held tokens. Whether a given platform passes along a distribution is a platform-by-platform question, and nothing in Coinbase’s notice addresses it directly.
The continued availability of withdrawals matters for exactly this reason. Coinbase isn’t trapping anyone’s assets. Users can still move FORTH to a self-custodied wallet or another venue before or after the trading halt.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Hedera [HBAR] approached $0.08 on October 22 as its retreat from its September rally continued. It traded near $0.08057 on the daily chart, down roughly 4% from the day’s opening price at the time of this writing.
That leaves HBAR close to a level that could shape its next move. Holding $0.08 would give buyers room to attempt a recovery, but a sustained break below it could see it go to the $0.075–$0.077 price area.
September’s gains continue to unwind
HBAR briefly climbed above $0.13 in late September, but buyers were unable to make sure that they kept those gains. The daily chart has since formed a series of lower peaks, with rebounds fading before they could reverse the decline.
Looking at the recent trading trends, a similar story can be seen. HBAR was around the $0.083–$0.085 price area for some time before slipping toward the $0.08 area at the time of this writing.
Source: TradingView
It also traded below its four displayed moving averages, and these show that the recovery is not strong yet.
What happens if HBAR loses $0.08?
The immediate test is to see if buyers can keep HBAR around or above the $0.08 price level.
A brief dip below that level would offer less confirmation than a close beneath it followed by an unsuccessful recovery attempt. If it moves that way, it would strengthen the case for further weakness.
If that happens, the $0.075–$0.077 price level becomes an area that the price could find support. HBAR traded around this range a couple of times before its September surge, which makes it a reasonable zone to watch for buying to start again.
However, looking at earlier trading activity does not guarantee that buyers will return.
Buyers face an early hurdle at $0.085
Holding the $0.08 would be a good starting point for it. But buyers would still need to lift HBAR back above the $0.084–$0.085 price area, an area that saw a lot of trading activities.
A sustained recovery through that area could make the $0.087–$0.088 price area an area to look forward to.
But for now, the chart favors caution. HBAR remains near its latest session low, and if it goes up, it would need to hold above the recent levels to suggest that the decline is slowing down.
Final Summary
HBAR approached the $0.08 price area, but a sustained break could take it to the $0.075–$0.077 area.
Buyers need to recover the $0.084–$0.085 price area before the outlook begins to improve.
Hedera’s native token HBAR may see its price slide toward 7.4 to 7.2 cents if it fails to maintain support near the 8 cent mark, according to market analyst Cilinix. In a recent analysis, Cilinix highlighted several factors suggesting the late-September recovery lacks the necessary market momentum and buying pressure to sustain current price levels.
Key support zone coming under pressureThe immediate focus for HBAR is the 8 cent support level. This zone aligns with several technical references, including the point of control for the previous month, a round-number price marker, and the developing yearly value-area low. On a technical basis, this area often acts as a springboard for rebounds.
However, Cilinix noted that trading activity paints a less optimistic picture. The analyst pointed to a declining cumulative volume delta (CVD), which measures the balance of buyer and seller activity. The CVD slipping alongside price suggests sellers are dominating and there is little evidence that buyers are stepping in to absorb the pressure. Funding rates recently turned negative and then positive again, but there was no meaningful price response, a pattern Cilinix described as bearish in the current environment.
“We don’t have any absorption,” Cilinix explained while reviewing HBAR’s trading flows. The lack of clear buying interest, even at established support, reduces the odds of a reversal in the short term, the analyst argued.
If the token can reclaim 8.1 cents following a move around 7.8 cents, and if trading flows and fundamentals improve, HBAR could eventually stabilize and attempt a new upward move. However, Cilinix continues to see this as a less likely scenario for now.
Market concerns and broader risksHedera is an enterprise-grade blockchain platform designed to deliver fast, fair, and secure decentralized applications. Despite its technical foundation, several fundamental metrics have faced headwinds recently. Cilinix reported shrinking total value locked (TVL), falling stablecoin market capitalization, and declining fees.
Broader market trends also appear unfavorable. The analyst referenced factors such as ongoing geopolitical tensions, rising oil prices, heightened volatility, and weakness in equity markets, all contributing to a more cautious outlook for crypto assets like HBAR.
A loss of the 8 cent support area would likely return HBAR to the lower trading range it occupied in August and September, exposing it to further declines. According to Cilinix, if this scenario unfolds, the next major support is expected near 7.4–7.2 cents.
Key LevelStatusImplication8.1 centsPotential reclaim targetCould trigger rebound8 centsImmediate supportCritical for maintaining current range7.8 centsWatch zoneReaction area for next move7.4–7.2 centsLower supportNext zone if breakdown occursCilinix concluded that, in light of weak market flows and ongoing fundamental concerns, the risks of a further decline outweigh immediate upside prospects for Hedera’s HBAR token.
Mini dictionary: Cumulative Volume Delta (CVD), a technical metric tracking the net difference between buying and selling volume over time. A falling CVD often signals dominance by sellers, while a rising CVD suggests increased buying interest.
Uniswap Labs has launched aggregator hooks on Ethereum, Base and Robinhood Chain, allowing Uniswap v4 to route trades through liquidity held on external platforms.
Fluid, Curve and PancakeSwap are among the external sources available at launch, Uniswap Labs said Thursday. The hooks are available through the Uniswap web app and API, with support for more blockchains planned.
The first aggregator hook went live in March 2026 on Tempo, a payments-focused blockchain developed by Stripe and Paradigm. Tempo is supported only through the web app, while Ethereum, Base and Robinhood Chain are supported through both Uniswap's web app and API, a Uniswap Labs spokesperson told The Block.
Uniswap first introduced plans for aggregator hooks in its UNIfication proposal in November 2025. The company described the update as turning v4 into an aggregator.
How aggregator hooks workHooks are a feature of Uniswap v4 that let developers add custom rules and functions to liquidity pools. Aggregator hooks make liquidity on other platforms look like a Uniswap v4 pool. Uniswap compares prices across its own pools and other platforms, then completes the trade in one transaction.
"Each Aggregator Hook wraps an external source in a Uniswap v4 hook, so that any router sees it as a Uniswap pool," Uniswap Labs said.
The external sources will be included automatically when users swap through the Uniswap web app. Developers using the Uniswap API can also route trades through the hooks.
Protocol fees and UNI token burnsTrades routed through external liquidity sources will pay Uniswap protocol fees, according to Uniswap Labs. Those fees will contribute to UNI token burns.
Uniswap Labs said the protocol has processed more than $4.5 trillion in total trading volume. While most onchain liquidity is already available on Uniswap, liquidity can still form elsewhere, it said, adding that aggregator hooks are designed to bring those sources into v4.
The Funding newsletter: Stay on top of the latest crypto VC funding and M&A deals, news, and trends with my free bi-monthly newsletter, The Funding. Sign up here!
Uniswap Labs has rolled out aggregator hooks, a feature that lets Uniswap v4 pools route trades through liquidity held on external platforms, The Block reported. The hooks are live on Ethereum, Base and Robinhood Chain.
Supported external sources include Curve, Fluid, PancakeSwap V3 and Slipstream, as well as forks of Uniswap V2 and V3, according to Uniswap’s developer documentation. The documentation describes the hooks as production-ready as of late October 2026, and the feature arrived without a formal launch announcement.
Drawing on more pools gives orders a better chance of finding depth, which could reduce slippage on large trades in thin markets. The change also moves part of the routing role played by standalone aggregators, which sit above exchanges such as Uniswap, into the protocol layer.
Hooks are smart contracts that attach to individual liquidity pools and change how they behave. Aggregator hooks join existing options in Uniswap v4’s modular toolkit, including Permissioned Pools, which limit access to approved participants, and Dynamic Fee Hooks, which let fees move rather than stay fixed.
Robinhood Chain emerges as a key Uniswap venue
Robinhood Chain, which launched in July 2026, has quickly become a prominent venue for Uniswap activity alongside Ethereum and Base, at times accounting for more than 50% of certain Uniswap volume metrics. The network has also seen substantial hook adoption.
Uniswap’s official documentation does not reference any independent third-party aggregator hooks, suggesting the aggregation layer is currently Uniswap Labs’ own work.
Routing across external platforms adds smart contract code and creates dependencies on those platforms behaving as expected.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
On October 22, 2026, Uniswap launched Aggregator Hooks in its web app and API on Ethereum mainnet, Base and Robinhood Chain. The hooks expose external liquidity as Uniswap v4 pools, letting the router reach outside venues through the same pool interface it uses for Uniswap liquidity.
Uniswap says seven sources are available at launch, covering more than 90% of DEX activity on those chains. The announcement does not name the seven sources or give a measurement period for that coverage claim. Uniswap says it will add more chains and sources, but gives no schedule for either.
External liquidity enters the route The web app includes external sources automatically, without requiring users to select an outside venue. According to the announcement, the router pulls fresh quotes from connected sources every block and builds a route across Uniswap pools and external liquidity. The whole swap settles in a single transaction. This integration requires no new approvals.
Swaps through the wrapped sources pay protocol fees that contribute to $UNI burn, Uniswap says. Liquidity supplied elsewhere can therefore generate fees for the protocol when a swap reaches it through these hooks. The release gives no fee rate, expected fee revenue or projected burn amount with which to quantify that expansion at launch.
The public implementation shows how the base hook connects to an external pool. It rejects liquidity additions with LiquidityNotAllowed, delegates swaps to the external source and settles the resulting amounts through the v4 PoolManager. In this implementation, the wrapper connects execution to existing liquidity; it accepts no new deposits. Liquidity providers evaluating these pools need to inspect the underlying venue where the swap executes.
The same base contract adjusts quotes for protocol fees. For an exact-input swap, it subtracts the calculated fee from the quoted output. For an exact-output swap, it adds the fee to the required input. It returns the unadjusted amount if the protocol fee is unset, or if the fee destination remains unset after polling. These conditions come from the source code. The deployed fee configuration on each launch chain has not been verified here.
The adapters preserve external pool behavior Uniswap’s Aggregator Hooks repository documents how adapters connect to different venues. Curve uses one hook per underlying pool. A Curve pool containing eight tokens can appear as 28 v4 pools, all sharing one hook address. Routers can check for repeated hook addresses to recognize when separate trading pairs draw on the same reserves.
The repository explains why that check affects routing: a Curve swap changes other directions involving a touched token. The shared hook address lets the router identify that dependency across the separate v4 pool representations. The documented Curve implementations cover both classic StableSwap and StableSwap-NG pools.
Fluid also uses one hook per pool. Its documented implementations include pools with collateral and debt reserves, a lightweight DEX implementation and concentrated liquidity. The repository still labels the concentrated-liquidity implementation’s mainnet launch as pending. The implementation inventory describes the adapters in the repository; it has not been verified as the list of sources enabled for this release.
The v2-compatible adapter uses a singleton. One deployment serves multiple v4 pools, with an immutable factory resolving each external pair. Routing depends only on the currency pair. The fee and tick-spacing fields in the v4 pool key do not select the external pair, and the adapter gets its quotes from onchain reserves.
The v3-compatible and Slipstream adapters also use singletons. Their pool lookups differ: the v3 adapter resolves an external pool through its factory, tokens and fee tier, while Slipstream uses tick spacing in place of the fee tier. Both use a chain-deployed compatible Quoter for documented quotes. Each adapter retains the external venue’s rules for selecting a pool.
A separate adapter connects directly to MakerDAO’s LitePSM for fixed-fee conversion between a gem token and $USDS. It resolves the gem token at construction instead of hardcoding $USDC. On each call, it reads the conversion fees, which governance can change. The adapter permits only one canonical v4 pool per gem/$USDS pair and addresses the PSM directly, without a factory lookup. The repository documents this design but does not confirm LitePSM as an announced launch source.
The repository also describes an address-prefix identification system for routing programs to recognize protocols and repeated pool interactions. It warns that a random hook address can produce a false positive. Routers can use the prefix as a hint, but it cannot prove which implementation controls an address.
API settings still determine route eligibility Uniswap’s API routing guide separates AMM routing from UniswapX intent execution. AMM routes use onchain pools and can split a swap across paths or take multiple hops. UniswapX relies on competing solvers that can use their own inventory and routing strategies. The solver submits the order fill.
API integrations using BEST_PRICE search for the most efficient route under the request’s inputs. The FASTEST setting prioritizes quote response speed and excludes UniswapX; it concerns quote delivery, not settlement complexity. Under BEST_PRICE, leaving protocols unset lets the API consider both AMM and UniswapX paths. Restricting the field to v2, v3 or v4 limits selection to AMM routes.
Solver availability can further limit those choices. When UniswapX is unavailable, the API can fall back to AMM routing if the request permits it. Chain-specific size thresholds and solver participation can prevent an intent quote. Uniswap also warns that API quotes can differ from the web app because request fields differ. Changes in market conditions can make a fresh best-price search differ from an earlier quote.
The repository’s UniswapX aggregator implementation fills a supplied signed order. It has no persistent pool to consult. Original Dutch orders require a full fill, and ordinary routing-quote calls are unsupported because the order arrives with the swap. This implementation opts out of protocol-fee classification, unlike the fee-paying external routes described in the launch announcement. The announcement does not identify it as a launch source, and the repository alone cannot establish that it is enabled.
That order-driven implementation uses a separate base, which forwards per-swap hookData directly from calldata into execution. Most documented adapters ignore this data because their external pool is fixed at initialization. The order-driven adapter instead requires the signed order with each swap.
Uniswap has not named the deployed hook contract addresses. Without a deployment list, the source code cannot establish which implementations and fee settings are active on each launch chain.
Uniswap Labs today launched Aggregator Hooks, new v4 hooks that wrap external liquidity sources and turn them into Uniswap pools. Aggregator Hooks are now live in the Uniswap Web App and API on Ethereum mainnet, Base, and Robinhood Chain. Seven sources are available at launch, covering more than 90% of all DEX activity on these chains.
The Uniswap Protocol is the largest decentralized exchange by volume, with more than $4.5 trillion swapped. Even so, new liquidity can still form elsewhere. Aggregator Hooks bring that liquidity into the protocol. Outside sources become v4 pools, and swaps routed through them pay protocol fees, contributing to UNI burn.
Each Aggregator Hook wraps an external source in a Uniswap v4 hook, so any router sees it as a Uniswap pool. Every block, the router pulls fresh quotes from the connected sources and builds the most efficient route across Uniswap pools and outside sources. The whole route settles in a single transaction, with nothing new for a user to approve.
Swaps on the Uniswap Web App now include external liquidity sources automatically. Developers can route through Aggregator Hooks using the Uniswap API. Learn more about hooks developed by Uniswap Labs.
About Uniswap Labs
Uniswap Labs is a core contributor to the Uniswap Protocol, the world’s largest decentralized exchange, with more than $4.6 trillion in all-time trading volume. Uniswap Labs builds products trusted by millions of users and leading financial institutions to access onchain liquidity, including the Uniswap Web App, Uniswap Wallet, Uniswap API, and UniswapX.
For more information, users can visit https://app.uniswap.org
Aggregator Hooks now route swaps on Ethereum, Base and Robinhood Chain through seven external liquidity sources, and those trades pay Uniswap protocol fees.
Uniswap turns v4 into a trade aggregator that sends outside-liquidity fees to UNI burns
Posted October 22, 2026 at 11:47 am ET.
Uniswap Labs has turned v4 of its decentralized exchange protocol into a trade router, and swaps it sends to other venues now pay protocol fees that contribute to UNI token burns.
The company announced on Thursday that Aggregator Hooks are live in the Uniswap Web App and the Uniswap API on Ethereum mainnet, Base and Robinhood Chain. “Uniswap v4 is now an aggregator,” the post said.
Seven external liquidity sources are connected at launch. Uniswap Labs said in its announcement post that those sources account for “more than 90% of DEX activity on these chains.” The post did not name the seven venues.
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
How the Hooks Route Trades
Each hook wraps one outside source so routing software treats it as a Uniswap v4 pool. Uniswap Labs said routes that mix its own pools with those sources are priced from quotes refreshed every block and settle in a single transaction, with “nothing new to approve.”
Fees From Outside Liquidity
Trades routed through the outside sources “pay protocol fees, contributing to UNI burn,” according to the hooks launch post, because the hooks register those sources as v4 pools. Uniswap Labs, which puts total swap volume on Uniswap above $4.5 trillion, said the hooks are aimed at liquidity that builds up on other venues.
The plan dates to the UNIfication proposal published in November 2025, which asked Uniswap governance to switch on protocol fees and direct them into a mechanism that burns UNI. The proposal listed aggregator hooks among the products where fees would eventually apply, alongside v4, UniswapX and layer-2 deployments. It also called for burning 100 million UNI from the treasury.
Related Listen: Why Programmatic Token Buybacks Are ‘Kind of a Red Flag’
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Uniswap Labs has unveiled a major update for its decentralized exchange protocol, introducing v4 as an aggregator that routes trades across multiple liquidity venues and drives protocol fee contributions towards UNI token burns.
Uniswap v4 integrates with external liquidity sourcesOn Thursday, Uniswap Labs announced the launch of Aggregator Hooks on the Uniswap Web App and Uniswap API, now active on the Ethereum mainnet, Base, and Robinhood Chain. With these hooks, Uniswap v4 operates as an aggregator, sourcing liquidity from seven external venues at the outset.
Uniswap Labs reported that these connected protocols represent over 90% of DEX trading activity across the integrated chains, although the company did not disclose their names. Each Aggregator Hook wraps an external source, making it accessible to trade routing software as if it were a Uniswap v4 pool.
With this structure, routing engines can price trades that combine internal Uniswap pools with external sources, using real-time block-by-block quotes. Uniswap specified that the entire route is executed in a single transaction, requiring no additional approvals from users.
Protocol fees to support UNI token burningA key feature of the update is that swaps routed via external sources are now subject to protocol fees, thereby increasing the volume of UNI tokens burned. According to Uniswap Labs, this is because the Aggregator Hooks record external liquidity providers as v4 pools within the protocol.
Trades through external venues now pay protocol fees, contributing directly to UNI token burns, as these sources are registered as Uniswap v4 pools.
Uniswap Labs currently lists total swap volume on its platform at over $4.5 trillion. The firm stated that the new hooks are intended to attract and aggregate liquidity that has historically resided on other platforms, which could increase volume and deepen liquidity within Uniswap’s network.
The changes align with the UNIfication proposal first introduced in November 2025. This governance initiative sought to activate protocol fees across the platform and create mechanisms for those fees to be directed to UNI token burning. The proposal specifically included aggregator hooks as one of the products through which fees would be collected, alongside v4, UniswapX, and layer-2 expansions. It also proposed the burning of 100 million UNI from the project’s treasury.
Mini dictionary: Uniswap is one of the largest decentralized trading protocols, enabling peer-to-peer trading of cryptocurrencies without traditional intermediaries. Aggregator Hooks are a technical solution allowing Uniswap to source liquidity from external platforms and route trades through them as if they were native Uniswap pools. This approach aims to improve trading efficiency and bolster protocol revenue.
FeaturePrevious Uniswap VersionsUniswap v4 Aggregator HooksLiquidity sourcesUniswap pools onlyUniswap pools + 7 external venuesTrading routerSingle source routingAggregator, routes through multiple venuesUNI token burnLimited / indirectDirect protocol fees from swaps routed through all connected venuesThe initiative is part of Uniswap Labs’ broader strategy to consolidate DEX liquidity and bring greater value to UNI token holders through systematic token burning and enhanced network effects.
RedStone has integrated Filecoin and deployed a FIL/USD push price feed on Filecoin mainnet, delivering a dollar price for the network’s native token to smart contracts on the Filecoin Virtual Machine (FVM).
How the FIL/USD Price Feed Works on Filecoin Mainnet RedStone’s FIL/USD feed publishes a signed FIL price to a contract on Filecoin mainnet that any FVM application can read. Getting there took a chain integration: RedStone set up the relayer and onchain contracts Filecoin needed to receive push feeds in the first place.
The feed runs on RedStone’s push model. An off-chain relayer collects FIL prices from RedStone’s data providers and writes an update onchain when one of two conditions is met, a 0.5% price deviation or a four-hour heartbeat. Each update carries the providers’ signatures and a timestamp, and the adapter contract validates both before storing the price. Consuming contracts read that stored value directly.
Because the FVM runs Solidity through its EVM runtime, integration looks the same as it does on Ethereum. A lending contract calls latestRoundData() through the standard aggregator interface and gets back the price along with the time it was last updated. The Calibration feed lets teams test collateral and liquidation logic against real FIL prices before any mainnet funds are involved.
Why FVM Applications Need a Dollar Price for FIL Much of Filecoin’s DeFi activity grew out of storage. Providers lock FIL as collateral to take on storage deals, and protocols such as GLIF run leasing pools where FIL holders deposit tokens, receive a liquid token in return, and lend to those providers for a share of their rewards. The loans are denominated in FIL. The decisions around them, how much a provider can borrow and when a position gets too thin, depend on what FIL is worth in dollars on a given day.
The programmable side of the network is growing as well. Filecoin Onchain Cloud, which moves storage and payments onchain, went live on Filecoin mainnet on 26 March 2026 after more than 100 teams built on its testnet, according to the Filecoin blog. Its payment layer, Filecoin Pay, settles usage onchain, and the network’s 2026 strategy calls for adding stablecoin payments to it. Once storage is priced in dollars and paid in FIL, or the reverse, the contract in the middle needs a conversion rate it can trust, updated often enough to settle against.
What the Integration Unlocks For Filecoin builders, the change is practical. A team launching a FIL-collateralized lending market or a dollar-priced storage service can point its contract at an existing feed and skip running price infrastructure of its own. The same reference price is a starting input for liquid staking tokens that need a dollar value, for insurance products that price cover in dollars and pay out in FIL, and for AI and data applications that bill for services onchain. Where those products need something beyond FIL/USD, such as an exchange rate for a liquid token, RedStone’s custom feeds can be deployed on the same infrastructure.
For RedStone, the integration extends its footprint into the network that describes itself as the world’s largest decentralized storage network, and into a DeFi market built around provider collateral. Chain integrations tend to widen after launch. RedStone went live on Tempo in March 2026 with FX feeds for payments, and by May it was supplying the feeds behind a full lending stack on Tempo. The feeds also carry a record of zero mispricing events, including correct ezETH and wstETH prices during episodes when those assets were mispriced elsewhere.
Filecoin’s 2026 network strategy puts paid onchain deals at the top of its objectives, alongside network profitability and adoption by paying flagship clients. Its go-to-market focus includes AI agents, chain data and real-world assets. Each paid deal is a contract that moves FIL, and every one budgeted in dollars needs a price to settle against.
See the FIL/USD feed’s contract addresses and update parameters on the RedStone app.
Is there a FIL/USD price feed on Filecoin mainnet? Yes. RedStone operates a FIL/USD push feed on Filecoin mainnet that any smart contract on the Filecoin Virtual Machine can read. A matching feed runs on the Calibration testnet for development and testing.
How often does the RedStone FIL/USD feed update? The feed pushes a new price onchain whenever FIL moves 0.5% from the last stored value. If the price stays inside that band, a heartbeat forces an update every four hours.
How do FVM smart contracts read the FIL/USD price? The FVM supports Solidity, so contracts read the feed with latestRoundData(), which returns the latest price and its update timestamp. The mainnet relayer contract sits at 0x434F8D17c0301cfEa143dba912972E24B827C968, and addresses for both networks are listed on the RedStone app.
Can RedStone deploy other price feeds on Filecoin? Yes. The chain integration means the relayer and contracts are already in place on Filecoin, so teams can request additional feeds from the RedStone team.
RedStone is the data layer for institutional DeFi, delivering secure, low-latency price feeds for digital assets, RWAs, stablecoins, LSTs, LRTs, and Bitcoin LSTs across 110+ chains. Trusted by 200+ clients, including Securitize, Morpho, Pendle, Spark, Ether.fi, Ethena, Lombard, Venus, and Compound, RedStone powers lending, stablecoins, perpetuals, and tokenized asset markets with custom pricing infrastructure built for complex onchain systems. RedStone provides data for tokenized products including BlackRock’s BUIDL, Apollo ACRED, and Hamilton Lane SCOPE. Zero mispricing events. 100% uptime. Learn more at redstone.finance.
Filecoin is a peer-to-peer network to store files, with built-in economic incentives to ensure files are stored reliably over time. It’s designed to create a decentralized, efficient, and robust foundation for humanity’s information. Learn more at filecoin.io.
Filecoin smart contracts can now see FIL’s dollar price without leaving the chain. RedStone, the modular oracle and data infrastructure provider, has launched an onchain FIL/USD price feed on Filecoin mainnet.
The deployment went live on October 22, 2026. It targets the Filecoin Virtual Machine (FVM), the layer that lets developers run programmable applications on a network best known for storing files.
How the feed works Oracles fetch real-world data, such as asset prices, and deliver it onchain where contracts can use it.
RedStone’s new offering is a push feed. Rather than waiting for an application to ask, it writes fresh prices to the chain whenever certain conditions are met.
Those conditions are specific. The feed updates every time FIL’s price moves by 0.5%, and at a minimum every four hours even if the market stays quiet.
RedStone runs its modular oracle stack across over 110 chains. Reported figures for 2026 put the total value it secures between approximately $4 billion and $9 billion.
A crowded oracle shelf, and a fresh upgrade RedStone is not the first oracle to set up shop on Filecoin. The FVM already supports services from Pyth and Tellor.
What RedStone adds is a dedicated FIL/USD feed option. Developers now have another supplier to choose from, which matters in a part of crypto where depending on a single data source can be a liability.
The arrival fits a broader push by Filecoin to become more than a storage marketplace. The network has been expanding its programmable features through the FVM, with initiatives such as Filecoin Onchain Cloud.
The timing is also notable. RedStone’s launch came just three days after the Solstice upgrade on October 19, 2026.
Solstice reworked how Filecoin distributes block rewards. It ended Fil+ DataCap subsidies and redirected incentives toward paid storage usage.
What this means for Filecoin builders and FIL holders For developers, the immediate effect is practical. Anyone building a lending protocol or derivatives product on the FVM now has an additional source for FIL’s dollar price that updates on known, published triggers.
Having several oracle providers on the same network gives builders options. They can pick the feed design that suits their application, or combine sources to reduce the risk of any one feed failing or being manipulated.
No additional partnerships or user metrics related to the RedStone and Filecoin integration have been disclosed as of the announcement.
The key metrics to watch are adoption-driven. Look for which FVM protocols integrate the RedStone feed, how much value ends up depending on it, and whether new lending or derivatives markets for FIL emerge as a result.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
If Bitcoin drops below $80,000, total long position liquidations on major centralized exchanges (CEXs) will hit $692 million.
According to Coinglass data, if Bitcoin falls below $80,000, the total long liquidation intensity on major centralized exchanges (CEXs) will reach $692 million. Conversely, if Bitcoin breaks through $83,000, the total short liquidation intensity on major CEXs will hit $1.025 billion. BlockBeats Note: Liquidation charts do not display the exact number of pending liquidations or the exact value of liquidated contracts. The bars on these charts actually represent the relative importance (intensity) of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the degree of impact when the underlying asset’s price reaches a specific level. A higher "liquidation bar" indicates that once the price hits that level, it will trigger a stronger reaction due to liquidity waves.
4 hours ago
Bitcoin falls below $81,000, with a 4.3% drop in the past 24 hours.
According to HTX market data, Bitcoin fell below $81,000, with a 4.3% decline in the past 24 hours.
4 hours ago
Pump.fun launches EVM limit orders, supporting take-profit and stop-loss functions.
Meme coin launch platform Pump.fun announced the launch of its EVM limit order functionality, claiming it is the first social trading application to offer take-profit and stop-loss features. The feature currently covers Robinhood, BNB Chain, Base, HyperEVM, Arc, and Ink, with more chains set to be integrated gradually.
4 hours ago
a16z Frontier has officially confirmed its continued focus on the crypto space, expanding its investment scope to include frontier technology startups.
a16z General Partner Chris Dixon has officially published an announcement renaming a16z crypto to a16z Frontier, expanding its investment scope from crypto startups to a broader set of frontier technology startups—those building new technologies, opening up new markets, and taking years to mature. Dixon emphasized this is a scope expansion, not a pivot; the team will continue investing in crypto and related businesses while advocating for reasonable crypto regulation. Dixon noted that as blockchain gains wider adoption, Wall Street and fintech firms have regularly launched on-chain products, making the "crypto company" label less significant. Companies should be defined by their core business activities, not the technology they employ. His remarks also touch on the ongoing AI wave: beyond using AI to speed up and enhance existing work, focus is on native new use cases emerging from AI, full-stack startups integrating hardware, software and services, and new networks connecting humans and intelligent agents. Dixon believes blockchain will still play a critical role in this space, serving as a fast, low-cost, global, programmable financial infrastructure for the internet. Stablecoins are becoming a standard tool for fintech firms and institutions, and can also support machine-to-machine transactions and the cold start of new networks. He will lead the fund alongside firm founders Marc Andreessen and Ben Horowitz, as well as general partners Eddy Lazzarin and Guy Wuollet. The operating team will continue supporting current and future portfolio companies in areas including regulation, market entry, talent, marketing and technology R&D.
4 hours ago
New York State Department of Financial Services issues alert over PHP vulnerability.
New York State Department of Financial Services (NYDFS) has issued alerts regarding two critical PHP vulnerabilities, urging regulated entities to promptly identify and remediate the vulnerabilities that are already being exploited.
4 hours ago
GMGN Co-founder: The self-developed cross-chain bridge is undergoing a small-scale volume test, and the APP will soon support buying multi-chain tokens with USDC.
GMGN co-founder Haze announced in a post that the project’s self-developed cross-chain bridge is currently undergoing small-scale volume testing, and will uphold its long-standing reputation for fast, secure, and stable transactions. Haze added that users will soon be able to buy any token across multiple blockchains using USDC through the GMGN app.
NEAR Protocol has rolled out cross-margin on its Hyperliquid-powered perpetuals platform, allowing trading positions to share a single perps balance while retaining what the project describes as confidential trading.
Summary
Positions can draw collateral from a shared perps balance instead of holding separate margin. NEAR’s privacy explanation describes dedicated Hyperliquid accounts with confidential deposits and withdrawals. Hyperliquid documents account-level liquidation rules for positions that use shared cross margin. The platform advertises more than 50 markets, with U.S. persons excluded from access. NEAR Protocol announced the feature on Oct. 22, saying positions now share the user’s perps balance as margin. Its accompanying image presents cross and isolated margin alongside the platform’s confidentiality claim.
“Positions now share your perps balance as margin instead of each holding its own,” the project said.
The announcement identifies perps.near.com as the trading interface and Hyperliquid as the underlying provider. NEAR’s message says the feature is live, although it does not provide trading volume, user counts, or figures showing how much collateral customers have committed.
NEAR describes confidentiality through a dedicated trading account NEAR’s product page gives a more specific description of privacy than the short launch announcement. The service says each user receives a dedicated account for trading perpetuals on Hyperliquid, with confidential deposits and withdrawals to and from that account.
The Oct. 22 post describes positions as confidential, stating “nobody can tell they’re yours.” The product page’s explanation centers on the account and its funding flows, without establishing that every order, execution, or position record disappears from Hyperliquid’s public infrastructure.
Neither the announcement nor that explanation provides an independent assessment of whether observers could identify users through other information. The material supports reporting NEAR’s confidentiality claim, but not a guarantee that trading activity cannot be linked to a person under any circumstances.
For funding, the site says NEAR Intents converts supported assets into the required margin currency. Users can start with assets held across connected networks, while funding and settlement transactions are signed on their devices, according to the service.
Cross margin shares collateral across eligible positions Hyperliquid’s documentation describes cross margin as collateral shared among cross-margin positions. Isolated margin assigns collateral to an individual position, separating it from the collateral used elsewhere in the account.
Its rules allow unrealized profits from cross-margin positions to become available as initial margin for new trades. For isolated positions, unrealized profit instead becomes additional margin for the existing position, the documentation states.
Hyperliquid calculates initial margin from position size, mark price, and the leverage selected by the trader. Maximum leverage depends on the asset, so the platform’s advertised ceiling does not apply equally to every market.
The documentation says leverage is checked when a position opens. Afterward, users must monitor their exposure, with available actions including closing positions, adding collateral to isolated trades or depositing USDC for cross-margin positions.
Hyperliquid distinguishes how cross-margin works across different perpetual exchanges deployed on its infrastructure. Its documentation says collateral sharing across those venues depends on the account mode and collateral type. NEAR’s announcement does not specify which of those configurations its interface supports.
Hyperliquid applies account-level liquidation rules Hyperliquid’s liquidation rules say positions become subject to liquidation when account equity falls below the required maintenance margin. The platform first attempts to close positions through orders sent to its order book. Remaining collateral stays with the trader when the resulting closures restore compliance with margin requirements.
If account equity falls below two-thirds of maintenance margin and liquidation through the book has not succeeded, the documentation describes a backstop process involving the liquidator vault.
For a cross-margin backstop liquidation, Hyperliquid says the trader’s cross positions and cross collateral transfer to the liquidator. An isolated backstop liquidation transfers the affected position and its assigned margin while leaving cross-margin positions untouched.
The exchange uses a mark price for liquidations. Its pricing documentation says that measure combines external market information with Hyperliquid trading data and is used for margin calculations, unrealized profit and loss, and take-profit or stop-loss triggers.
Funding payments can change an account’s balance while positions remain open. Hyperliquid states that funding is exchanged hourly between long and short holders, with the payment direction determined by the funding rate. The exchange says it collects no fee on those transfers.
NEAR’s perps service excludes U.S. persons The product page advertises access to more than 50 perpetual markets with leverage of up to 40 times. It explicitly states that perpetuals are unavailable to U.S. persons and users in other restricted jurisdictions, alongside a warning that leveraged trading carries a substantial risk of loss.
NEAR’s relationship with Hyperliquid includes direct token trading. On Sep. 23, crypto.news reported that NEAR spot trading had become available against USDC, alongside an existing perpetual market for the token. The announcement cited in that article said inclusion on Hyperliquid’s Strict List would take several more days after deployment.
AVAX is testing the lower boundary of a falling wedge at key Fibonacci support.
A death cross on the 4-hour chart keeps the rebound unconfirmed.
Charles Schwab calls Avalanche a leader in institutional blockchains and RWA tokenization.
The broker warns that institutional adoption may not translate into demand for AVAX.
AVAX price is trading near $9.21 on the 4-hour chart, sitting on its most important support zone at $9.00-$9.20 after a 23% pullback from the late-September high of $12.01, with a falling wedge pattern set to resolve within days. The test comes as Charles Schwab, the brokerage with roughly $13 trillion in client assets, published an analysis of Avalanche and Chainlink on October 20 that names Avalanche a leader in institutional blockchains and real-world asset (RWA) tokenization, while questioning whether that position will ever translate into demand for the token.
JUST IN: Charles Schwab identifies Avalanche as a leader in RWAs and institutional use cases.
New research from @CharlesSchwab points to custom L1s and high-utility financial activity as key differentiators for the network. pic.twitter.com/vLhdjuebkL
— Avalanche🔺 (@avax) October 21, 2026
A rally on volume, a pullback without it
Between September 17 and September 29, AVAX rallied nearly 68% in just over 12 days, climbing from $7.17 to $12.01. Over the following 23 days it gave back more than 23% of its value. Total volume was almost identical in both phases, about 84.8 million AVAX in the rally and 83.6 million in the correction, but the decline lasted nearly twice as long, so average volume per candle during the pullback is roughly half of what it was on the way up. Sellers have been pushing price lower with fading participation, a pattern that tends to accompany a correction more often than a trend reversal.
A falling wedge at the 0.618 level
AVAX/USDT 4H chart. Source: Alexander Stefanov on TradingView
Since early October, price has compressed into a falling wedge, a pattern of two converging downward lines in which each high is lower than the last ($11.70, $11.00, $10.50, $9.95) while the lows drop by shrinking steps. AVAX is now testing the wedge’s lower boundary just above $9.02, the level where price would retrace 61.8% of the September rally and where pullbacks within strong trends often stall. That overlap makes $9.00-$9.20 the decisive support on the chart, and the wedge’s apex falls around October 26-27.
The death cross and the $9.90 wall
The 50-period exponential moving average ($9.79) has just slipped below the 200-period average ($9.90), which in practice means the average price of roughly the last eight days is now lower than the average of the past month. On October 21, AVAX attempted a breakout but was rejected exactly at the upper wedge line, where both averages also sit, turning $9.80-$9.90 into a dense resistance cluster.
The Relative Strength Index (RSI) stands at 35, close to the 30 mark below which the market is considered oversold, and remains under its signal line at 45. The indicator’s lows have stayed roughly flat while price kept printing lower lows, a mild bullish divergence that still lacks confirmation.
Level
Price
Role
Top of the wedge
$11.50-$11.70
Breakout target
Fibonacci 0.382
$10.16
Resistance
Wedge line and EMAs
$9.80-$9.90
Key resistance
Fibonacci 0.5
$9.59
Support after breakout
Fibonacci 0.618
$9.00-$9.20
Key support
Fibonacci 0.786
$8.20
Breakdown target
Levels from the AVAX/USDT 4-hour chart on Binance as of October 22.
What Schwab sees in Avalanche
Analysts at the Schwab Center for Financial Research do not put Avalanche in a head-to-head fight with Ethereum or Solana for overall dominance. They describe it as infrastructure on which banks, funds and companies build their own blockchains, with access rules, fees and compliance settings tailored to their needs. The report credits the network with capacity above 4,500 transactions per second, an activity mix led by stablecoins, lending, asset management and liquid staking, and favorable tokenomics thanks to the 720 million maximum supply and the burning of every transaction fee.
$3.4B
Total value locked, fifth among smart contract chains
< $2B
Tokenized RWAs on Avalanche
~$50B
Total tokenized RWA market
200x-1,200x
AVAX value vs. three years of network fees
Source: Charles Schwab, August-September 2026 data.
Why the institutional story may not lift AVAX
The sharpest argument in the report targets Avalanche itself. An institution that launches its own chain can run nearly all of its activity outside the primary network, and those transactions do not generate the burned fees that create demand for AVAX. Tokenized bonds and funds also change hands rarely, so even a large volume of issuance can produce little fee revenue.
Schwab values the network through a kind of network “GDP”, meaning the economic activity users actually pay for. On that basis, AVAX carries a market value between 200 and 1,200 times the fees collected over the past three years, comparable to an extremely high price-to-earnings multiple in equities, and those fees have been declining since 2023. Avalanche also holds less than 4% of the tokenized asset market, where Ethereum controls a far larger share.
The research is separate from Schwab’s August 27 decision to add SOL, AVAX and LINK to Schwab Crypto “in the coming months”, which will give the broker’s clients access to AVAX trading at a 0.75% fee per trade. The listing concerns trading access only and does not mean Schwab uses Avalanche for its own settlement or tokenization.
The wedge resolves by October 27
To cancel the death cross signal, AVAX price needs a 4-hour close above the wedge and the moving averages at $9.80-$9.90. That would flip $9.59 into support, put the next resistance at $10.16, and leave the pattern’s measured move pointing back toward $11.50-$11.70. A decisive close below $9.00 would break both the wedge and the 0.618 level, opening the way toward $8.20, which also lines up with the early-September highs.
A falling wedge on declining volume, resting on the 0.618 level after a strong impulse, more often ends with a continuation of the prior rally, so the structure leans slightly in favor of buyers. The death cross and the rejection at the averages show the bounce is not confirmed, and until AVAX reclaims $9.90, the $9.00 support decides the direction.
Beyond the next few sessions, two catalysts sit outside the chart. Schwab has not set a launch date for AVAX trading and has reserved the right to delay or change its plans, while daily fees on Avalanche’s primary network, the weak spot the report singles out, are public data that will show whether institutional interest starts turning into real demand for the token.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this?
It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look.
Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened.
His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
An institutional Avalanche (AVAX) whale moved 119,416 AVAX, worth about $1.1M, to Coinbase, its first exchange deposit in six months.
An institutional Avalanche ($AVAX) whale has sent a seven-figure deposit to Coinbase, ending a long stretch of accumulation, according to data from @Arkham.
The address beginning 0x55De moved 119,416 $AVAX, worth about $1.1 million, to a @Coinbase exchange wallet. It is the wallet's first deposit to a centralized exchange in six months. Exchange deposits of this kind are typically read as a sign the holder may sell, though the transfer alone does not confirm that.
End of a 727-day accumulation runThe deposit also breaks the pattern that defined the wallet's activity. The address began accumulating 727 days ago, building its position through withdrawals from the Coinbase and Bitstamp order books. Moving tokens back onto an exchange reverses that direction for the first time in the period.
The sale, if it happens, would be small relative to the wallet's size. The address still holds more than 1.36 million $AVAX, for a total portfolio value of $12.52 million. The deposit therefore represents less than 10% of the stack by value, and the whale remains a large holder.
Market contextWhale deposits have drawn attention in the AVAX market before. AMBCrypto reported that Avalanche faced exchange-side selling pressure after a separate whale sent $2.4 million of tokens to Coinbase in multiple transactions over four hours.
On price, Coinbase data shows AVAX trading near $9.64, down about 12% over the past month and roughly 49% over the past year. The token remains far below its 2021 peak of $147.50, according to the same page.
Avalanche is described by Crypto.com as an open, programmable smart contracts platform that launched its mainnet in September 2020, with $AVAX used for payments, security and connecting the network's functions.
Traders will be watching whether further transfers follow from the same address, and whether the remaining 1.36 million $AVAX stays in place or also moves to exchanges.
SourcesAMBCrypto: Avalanche whale deposit and AVAX selling pressure
Coinbase: Avalanche (AVAX) price and market data
Crypto.com: Avalanche (AVAX) price and network overview
Avalanche’s AVAX price prediction is getting more interesting as on-chain data confirms a remarkable growth in cumulative verified contracts since early 2026 to now that has grown which is now approaching 950K, pointing to expanding activity across the blockchain. Meanwhile, the weekly price chart of AVAX sketches a potential recovery toward $55. It sounds very tempting, but right now AVAX remains under $10 and the path higher comes with several resistance levels that buyers must overcome.
Avalanche Contract Growth Gives Bulls Something To WatchCumulative verified contracts which have climbed significantly since January 2026, and is currently 946,872 on Avalanche blockchain. The way its rising is a clear indication of healthy operation inside the blockchain and continued growth could even push past 950K soon and 1 million mark in contracts isn’t much far too. This is basically suggesting more business activity across the Avalanche ecosystem.
That’s a useful fundamental signal. Still, rising contract numbers alone don’t guarantee stronger AVAX demand or a sustained price rally. Investors will want to see whether ecosystem growth translates into lasting market momentum.
AVAX Price Prediction Starts With Reclaiming $12The technical setup begins with a potential base around $6-$8, although the weekly sequence of lower highs remains intact. Reclaiming $10.50-$12 and holding the retest would strengthen the recovery case. The next critical hurdle sits near the $13-$15 area.
After that, AVAX faces resistance around $18-$22, if it keeps momentum going then the next following resistance area would be around $28-$35. There are several hurdles and the recovery journey will not be an easy one with several strong hurdles yet to test, because the $40-$45 region comes next, meaning the $55 target isn’t exactly around the corner.
⚡ $AVAX: SIX CHECKPOINTS BETWEEN $9.93 AND $55 👀
AVAX is recovering from its $6–$8 base, while the weekly sequence of lower highs remains intact.
Reclaiming $10.5–$12 and then $13–$15 would strengthen the recovery.
Next come $18–$22 and $28–$35, followed by $40–$45.… pic.twitter.com/dHgAcSMSH1
— Giannis Andreou (@gandreou007) October 22, 2026 The $55 Target Faces Historical SupplyThe AVAX chart places $52-$56 in a historical supply zone, with $55 inside that range. Clearing this area would require sustained buying and a successful breakout, not merely a brief move above resistance.
Until then, the target remains a bullish scenario rather than a confirmed destination. A weekly close below $8 followed by a failed reclaim would weaken the setup and expose $6-$7.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
