Tether (USDT) on BNB Chain recorded $3.69T in 30-day transfers, about 2.5 times Tron and Ethereum combined, per rwa.xyz, despite a far smaller supply.
$USDT on @BNBCHAIN recorded $3.69T across 471 million transfers over the past 30 days, about 2.5 times the combined total of Tron and Ethereum, according to data from rwa.xyz. The figure places BNB Chain well ahead of the two networks that hold most of Tether's supply.
Small supply, very high turnoverThe activity comes from a much smaller base. USDT on BNB Chain stands at $9.18B, compared with roughly $92B on Tron and $75B on Ethereum. On rwa.xyz's asset page, the BNB Chain supply is listed at about $9.18B, tagged as a bridged token rather than a native one.
That gap implies very different usage patterns. Each dollar of USDT on BNB Chain changes hands about 400 times a month, compared with roughly 8 to 9 times on Tron and Ethereum. The two larger networks hold far more supply, but much of it appears to sit in wallets, custody and exchange balances for longer periods.
Transaction counts point the same way. Data from the ACHIVX stablecoin scanner, which tracks settled USDT flows, shows BNB Chain carrying the most USDT transfers of any network at much smaller average sizes than Tron or Ethereum. That pattern is consistent with high-frequency, low-value activity rather than large settlement transfers.
What the totals includeThe headline numbers count every transfer, including trading bots and contract activity. They are a measure of onchain movement, not of unique users or organic payment demand, and repeated transfers of the same funds are counted each time.
There is also a technical caveat on what "USDT on BNB Chain" means. According to an explainer citing Tether data, Tether-issued supply on BNB Smart Chain is $0, and the BEP-20 token there is Binance-Peg BSC-USD. Aggregators such as rwa.xyz classify it as bridged USDT, which is why it appears under the USDT label.
Tron remains the largest USDT network by supply. Datawallet, citing DefiLlama, put Tron's USDT at about $92.4 billion on 1 October 2026, roughly half of global USDT in circulation. The BNB Chain figures show that supply and activity can diverge sharply, and that raw transfer volume says little on its own about where stablecoin capital actually sits.
Sources
RWA.xyz: Tether USDt asset data
ACHIVX: USDT transfers by network
Datawallet: TRC20 USDT market data
Arc’s stablecoin supply expanded sharply over the past week, increasing 33.51% to reach approximately $830.34 million, according to DefiLlama data. This surge stands in contrast to a slight contraction in the total global stablecoin supply, which declined by $1.25 billion during the same period to roughly $304.89 billion.
USDC Drives Arc’s GrowthAlmost all of the stablecoin supply on Arc comes from Circle’s USDC, which alone accounts for around $821 million. This figure represents nearly 98.9% of Arc’s total stablecoin float, marking a weekly gain of around 34% for USDC on this network. Small amounts of euro and sterling-pegged tokens are also present, but their contributions remain marginal.
Globally, Tether (USDT) continues to lead with about $182.51 billion in circulation, making up 59.86% of the total stablecoin market. USDC follows as the second-largest player with approximately $72.10 billion. Despite Arc’s robust growth, the overall market trend points to a net decrease in stablecoin supply, reflecting broader shifts in capital allocation and market sentiment.
Arc’s rapid expansion does not signal a broad recovery across all blockchains. Rather, the data show a significant migration of USDC liquidity specifically toward Arc, with other chains not experiencing similar inflows.
Arc’s Role and Technical PositioningArc serves as Circle’s open Layer-1 blockchain, promoted as an enterprise-focused, EVM-compatible network designed for stablecoin settlement. Circle introduced Arc with the intention of providing predictable transaction fees denominated in stablecoins like USDC, rather than volatile native tokens. The network targets institutional and enterprise use, setting itself apart from chains with larger or more generalized user bases.
The recent spike in Arc’s stablecoin balance largely reflects increased USDC activity. This pattern indicates participants are choosing to hold, transfer, or deploy USDC on Arc rather than on competing platforms. The week’s strong inflows do not alter the primary ranking of stablecoin assets between networks: Arc still trails behind blockchains such as Ethereum and Tron, which maintain multi-billion dollar stables reserves.
Liquidity Migration and Market DynamicsThe decline in global stablecoin supply, coupled with Arc’s outsized weekly gain, underlines a localized shift in liquidity rather than a market-wide rally. Factors such as redemption flows, portfolio rebalancing, or quieter inventory reductions may have contributed to the overall market contraction. Meanwhile, Arc’s segment saw an abrupt concentration of USDC, reinforcing the network’s role as a focused stablecoin hub.
Potential explanations for Arc’s stablecoin surge include fresh issuances and bridging of USDC, internal treasury reallocations by Circle, or other non-public capital moves. However, public float tables reveal only the outcome—more USDC now resides on Arc than seven days ago.
Tracking such liquidity movements remains essential for market participants and observers. Following both pricing trends and investor behavior can offer valuable insights for asset allocation and project development strategies.
In light of the increased emphasis on monitoring stablecoin deployment and asset flows, the meme token segment also serves as an example of rapid changes driven by internet trends. In this area, a low-barrier trade can evolve into substantial profit within days. Fomo App data highlight a remarkable case where the “Niu Lai” meme token turned a $99 initial investment into $370,000. For those navigating meme token volatility, observing not just price action but investor timing and token selection is vital. Fomo App consolidates token discovery, trading, social feeds, investor rankings, and trade alerts into one interface, helping users stay updated on both token moves and investor activity.
Arc float is up sharply. USDC dominates that balance. The broader market is slightly smaller than it was a week ago.
The fundamental stability question for pegged tokens remains unchanged. This week, however, attention has focused on which blockchain networks are holding the largest share of circulating stablecoins.
Spoluzakladatel BitMEX Arthur Hayes očekává, že HYPE bude zaostávat za ETH a ZEC kvůli rostoucí konkurenci mezi decentralizovanými burzami s perpetual futures.
Arthur Hayes expects HYPE to deliver weaker returns than Ethereum and Zcash from current levels. The view follows months of position changes, including his full exit from HYPE in June. HYPE is pulling back toward the moving average that has supported its entire 2026 rally. Ethereum’s deep discount to its record high is central to the Hayes argument. Arthur Hayes, the BitMEX co-founder who now serves as chief investment officer of crypto fund Maelstrom, said in an October 16 interview that Hyperliquid’s HYPE token could underperform Ethereum (ETH) and Zcash (ZEC), pointing to growing competition among decentralized perpetual futures exchanges, platforms where traders open leveraged bets on prices without an expiry date. A week later, HYPE trades near $78.26, about 20% below its $97.99 record after four straight weeks of lower highs. Hayes added that he respects what the Hyperliquid team has built and would still use its products, but he no longer wants to own the token, which makes the comment the latest step in a shift that started in June.
From a $150 Target to a Full Exit Hayes on HYPE in 2026
● March: Discusses a $150 HYPE scenario ● May: Names HYPE, NEAR and ZEC his “holy trinity” ● June 4-5: Sells HYPE, NEAR and then ZEC ● August: Calls ETH his preferred trade ● October 16: Says HYPE could lag ETH and ZEC In March, Hayes argued that record open interest in HIP-3 markets, which let developers list new perpetual contracts on Hyperliquid, could carry HYPE to $150. By late May he was grouping it with NEAR and ZEC as his favorite trio, praising the token’s revenue model and its access to traditional assets. Less than two weeks later, on June 4, he sold his HYPE and NEAR positions, citing higher energy prices, the risk that large AI listings would pull liquidity away from crypto and a weaker macro backdrop. A day later he exited ZEC as well, saying a vulnerability in Zcash’s Orchard pool meant the network could not cryptographically prove that extra coins had never been created.
The speed of the reversal drew criticism, and on-chain investigator ZachXBT accused Hayes of using his followers as exit liquidity. In August, Hayes disclosed that Maelstrom had bought HYPE in the low $30s and sold around $75, adding that ETH could rise three to five times relatively quickly. By the October 16 interview, ETH and ZEC were back at the center of his thinking, despite his June exit from Zcash.
Why ETH Looks Cheaper on His Math The case rests on relative valuation, since Hyperliquid generated roughly $429 million in revenue between January 1 and September 15, and nearly all protocol fees go toward buying HYPE on the open market, which ties the token directly to trading activity. Investors now widely recognize that link, so in Hayes’ view much of the success is already reflected in the price. Rival perpetual exchanges pose the specific risk: every share of volume they win reduces the fees Hyperliquid collects, and with them the size of the buybacks that support HYPE.
Ethereum sits on the other side of that trade, since it remains the main settlement layer for decentralized finance yet has lagged smaller assets for most of the past year, and it trades about 51% below its August 2025 peak. His Zcash thesis is different in kind, built on the idea that financial privacy gains value as governments, large tech companies and AI systems track more economic activity. Both are investment views, and ZEC in particular carries its own liquidity and regulatory risks.
HYPE Leans on Its 21-Week Average HYPE/USDT weekly chart. Source: Alexander Stefanov / TradingView The 21-week exponential moving average at $72.85 has guided the whole 2026 advance. HYPE reclaimed it in January, has closed above it every week since and bounced off it in July before the August breakout. The same line marked the turn in late 2025, when losing it in October and November preceded a three-month slide to $20. Together with the 0.382 Fibonacci retracement at $68.38, it forms a $68.4-72.9 support band that also overlaps the range where price spent most of May through July.
Momentum has weakened even as HYPE set a far higher high in September than in June, yet the relative strength index peaked near 83 in late May and reached only about 70 at the record, meaning buyers pushed with less force on the final leg. The reading now sits at 56.2, below its signal line, although still above 50, which fits a cooling trend rather than a reversal. A weekly close below $68.4 would point to $59.24 and then the $50-51 area, where the 0.618 level meets the rising 50-week average. Holding the band and reclaiming $85-88 would reopen a test of $97.99, with $119.07 as the next extension above it.
ETH Is Stuck Between Two Averages ETH/USDT weekly chart. Source: Alexander Stefanov / TradingView Ethereum trades at $2,407.69, inside a narrow cluster formed by the 50-week EMA at $2,419.68 and the 200-week EMA at $2,462.74. Sellers stopped the September rally at $2,749, which is both the 0.618 Fibonacci level and the measured target of the double bottom ETH built near $1,550-1,600 in June and July. Volume during the pullback has stayed below the August breakout, suggesting profit-taking rather than heavy selling, while the RSI at 52.85 shows no clear direction. A close above $2,463 would turn the cluster into support and open a second test of $2,749, then $3,171. Repeated closes below the 50-week average would send price back toward the $2,149 neckline.
ZEC Defends a Month-Long Floor ZEC/USDT weekly chart. Source: Alexander Stefanov / TradingView Zcash bounced 9.25% this week to $1,235.40, extending a four-week stretch in which every weekly low held above the 0.382 level at $1,047.48. The upper wick to $1,368 shows sellers remain active above the 0.236 level at $1,289.17. ZEC trades about 90% above its 50-week EMA, and its RSI peaked near 78 at the September record versus roughly 95 during the November 2025 rally, a gap that marks weaker buying pressure at higher prices. A close above $1,289 would put the $1,680 record back in view, with $2,130 beyond it. Losing $1,047 would expose $852, then the $647-657 zone where the 0.618 level and the 50-week average meet.
Sunday’s Closes Will Test the Rotation The weekly candles close on Sunday, October 25. If HYPE ends the week below $72.85 while ETH settles above its 200-week average, the charts would show the rotation Hayes describes, with money moving from a token near its highs toward one still far below. Hyperliquid’s buyback size depends directly on its share of perpetual trading volume, so monthly market share data across decentralized derivatives venues offers a more concrete test of the competition argument than price alone.
Hayes has reversed course on all three tokens within months this year, and blockchain analysts track wallets linked to him and Maelstrom closely. Any renewed buying of HYPE, or new selling of ETH or ZEC, would likely appear in on-chain transfer data before he comments on it publicly.
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.
FedEx has joined the governing council of Hedera, a public distributed ledger network that positions itself as a neutral enterprise-grade trust layer. This development has drawn attention to HBAR, Hedera’s native token, especially as it trades around $0.08. Crypto commentator Rip The Bull has suggested that increasing participation from multinational corporations signals the network’s growing potential.
Major companies strengthen Hedera governanceFedEx, one of the world’s largest logistics companies, now operates a node on the Hedera network and holds an equal vote on the council alongside technology giants including Google, IBM, and Dell. The council system provides decentralized governance, with each member overseeing network decisions and performance. FedEx’s chief digital officer has referred to the platform as a “neutral enterprise grade trust layer.”
The Hedera governing council can include up to 39 organizations from diverse industries. Notable participants since 2019 include Boeing and, more recently, energy provider Repsol. While these institutions have a stake in shaping the network, the extent of their actual usage of Hedera’s services remains unclear.
FedEx’s position on Hedera’s council, joined by peers such as Google and IBM, highlights expanding enterprise involvement in decentralized networks, but does not confirm the scale of their network transactions.
Although such partnerships bring credibility, a seat on the council does not necessarily indicate the company’s day-to-day activity or financial transactions on the Hedera platform.
Banking infrastructure and institutional integrationSwiss digital asset infrastructure company Taurus has integrated Hedera’s technology into its services. Taurus now offers more than 40 regulated banks and financial institutions access to custody, token issuance, and smart contract features on the Hedera network.
Rip The Bull notes that Tauras’s clients can now hold and stake HBAR, but clarified that availability does not automatically mean active staking or new assets have been launched by these institutions using Hedera.
Mini dictionary: Taurus is a Swiss fintech company specializing in digital asset infrastructure, including custody, tokenization, and blockchain solutions for regulated banks and financial institutions.
The commentator referenced an April 2027 target for an on-chain delivery milestone tied to a United Kingdom wholesale-markets initiative. However, the source material does not specifically mention Hedera, suggesting this date is a broader industry benchmark rather than a confirmed Hedera rollout.
InstitutionRole on HederaConfirmed Network UsageFedExCouncil Member, Node OperatorUndisclosedGoogleCouncil MemberUndisclosedTaurusService IntegratorEnables access for 40+ banksRepsolCouncil MemberUndisclosedHBAR price analysis and future projectionsAccording to the latest YouTube analysis, HBAR’s price stands near $0.08. The commentary places $0.09 as the level required to reclaim a “200” indicator, referring to a technical metric relevant among traders. The host also identifies a weekly Fibonacci target near $0.80 and predicts a longer-term move to $1, though these outcomes are based solely on market analysis, not on any news from participating corporations.
For investors, the central question remains whether growing enterprise participation will translate to increased network use and rising demand for HBAR. While major institutions are joining the Hedera council and integrating its services, sustained token demand will depend on actual activity and adoption across these networks.
The difference between enterprise participation and network usage will determine whether Hedera’s governance partnerships shift into real demand for HBAR.
ETF společnosti Canary Capital sledující Hedera zaznamenal během 12 měsíců kumulativní nárůst čistých přílivů o 69 % a jeho aktiva dosáhla 113 milionů USD, přestože HBAR za stejné období klesl o 52 %.
Canary Capital’s exchange-traded fund (ETF), which tracks Hedera (HBAR), has continued its listing on NASDAQ with steady trading activity through a challenging year for the digital asset. Despite HBAR losing 52% of its value over the past twelve months and falling 28% year-to-date, the ETF posted a notable 69% cumulative increase in net inflows for the same period.
Institutional Resilience Amid Market DeclineThis persistent influx signals strong institutional commitment, even as market sentiment around HBAR remains weak. The ETF’s asset base reached $113 million, reflecting consistent demand. However, net flows have recently stagnated, with three consecutive weeks without any new inflows in the last quarter.
Last week saw net outflows of $558,980, attributed to larger investors reducing their positions amid geopolitical uncertainty. This withdrawal follows a period when the ETF was attracting several hundred thousand dollars per week, suggesting that while institutional participants are not broadly exiting, some have scaled back their exposure.
This slow but steady shift points to large investors methodically adjusting allocations in response to prolonged bearish trends, rather than abandoning their positions entirely.
A segment of institutional participants is treating current HBAR price levels as an opportunity, guided by indicators like the Market Value to Realized Value (MVRV) index. When this metric turns negative, it signals the chance to purchase at what could be considered discounted prices, as earlier investors may have absorbed much of the earlier sell-off.
Mini dictionary: MVRV index — The Market Value to Realized Value (MVRV) index measures the ratio between a cryptocurrency’s total market cap and its realized cap. A negative MVRV can indicate that the asset is potentially undervalued, often prompting accumulation by long-term investors.
HBAR Trading Activity and On-Chain DataHedera’s spot trading volume reached $154,901,395 over 24 hours, while derivatives activity was slightly higher at about $180 million for the same period. According to analytics provider SoSoValue, HBAR’s spot market turnover rate stands at 4.45% in that window. Although the long versus short ratio is currently marginally in favor of bullish traders at 1.069, the liquidation data paints a different picture.
Out of $430,500 in liquidated HBAR positions, $422,600 were from long positions, highlighting that short-sellers have recently gained momentum. They appear to be testing support near the $0.08 mark, with HBAR currently trading at $0.079. This price sits below the key SuperTrend resistance value of $0.096 and the $0.086 mid-range Bollinger Band.
MetricValueHBAR price (current)$0.079SuperTrend level$0.096Bollinger Band (mid)$0.086Spot trading volume (24h)$154,901,395Derivatives volume (24h)$180,000,000Long vs Short Ratio1.069Long liquidations (24h)$422,600Total liquidations (24h)$430,500ETF net inflow (12 months)+69%ETF asset value$113 millionHBAR yearly change-52%HBAR YTD change-28%Recovery to higher price levels could depend on renewed whale participation and further institutional buying. The lack of substantial inflows in recent weeks suggests that while conviction in the ETF remains, cautious positioning prevails.
A positive shift in trading activity and whale accumulation may be required if HBAR is to reclaim significant resistance points above $0.08 in the near term.
Santiment zaznamenal během jediného dne 2 295 nových adres UNI, což je nejvíce od listopadu 2022. Metrika měří první interakce s UNI, nikoli počet uživatelů.
TLDR: Santiment counted 2,295 new UNI addresses in one day, the highest network-growth reading since November 2022, based on first-time interactions with UNI. Santiment pointed to new Uniswap v4 features, expanded liquidity routing and continued Unichain development as possible reasons for the increase, without naming a single driver. Santiment identified $7 as the key downside level, $7.50 as the first meaningful reclaim and $8 as a possible retest if support and network activity remain firm. If UNI loses $7 while new address creation fades, Santiment said the spike may reflect short-term excitement rather than sustained adoption; follow-through will clarify the trend. UNI wallet creation reached 2,295 addresses in one day, its highest network growth reading since November 2022, Santiment said. The increase puts network activity near levels last seen four years ago, while UNI remains close to $7. Santiment linked the rise in participation to three factors:
Uniswap v4 features, liquidity routing and continued work on Unichain. The metric tracks new addresses that interact with UNI for the first time. It does not show how many people control those addresses or whether each will remain active. For traders, the wallet surge adds an adoption signal to the price levels in focus.
UNI Wallet Creation Reaches a Four-Year Network Growth Peak The UNI wallet creation count marks the strongest daily increase since November 2022. Santiment defines network growth by counting addresses that interact with UNI for the first time. The figure measures fresh on-chain participation, not a direct count of new customers. One person may control several wallets, while some addresses may see little activity after their first interaction. The data shows a jump in first-time address activity, but cannot confirm lasting adoption by itself.
Source: Santiment Santiment pointed to Uniswap v4 features, expanded liquidity routing and ongoing Unichain development as possible reasons for the increase. Together, these developments give users new ways to access the protocol and ecosystem. The post did not say which development contributed most, however. Nor does the one-day reading show that each new address arrived because of a specific product. The explanations remain plausible, while the increase in first-time addresses is the measured signal.
The next test is whether UNI wallet creation stays elevated. Santiment said readings above the recent baseline could strengthen the case for continued participation. If counts quickly fall back, the daily high may reflect short-term attention. Several days of elevated activity would offer stronger evidence that new addresses keep exploring UNI. Daily growth can fluctuate, so traders may seek follow-through before treating it as a lasting change.
UNI Price Levels Put $7 Support and $7.50 Reclaim in Focus UNI’s price structure centers on $7.00 and $7.50. Santiment called $7 the key downside level and $7.50 the first meaningful reclaim. These levels frame the immediate question: can buyers defend support, then recover initial resistance? Wallet growth adds context, but neither the network metric nor these levels guarantees a move. Confirmation depends on price response and continued activity.
If UNI holds above $7 while new address growth stays above its recent baseline, Santiment said a renewed test of $8 would be favored. That scenario pairs price stability with continuing participation. A reclaim of $7.50 is the first level to watch before any move toward $8. A push through $7.50 would show buyers recovering ground, but one brief move would not establish a breakout. Follow-through in both price and UNI wallet creation would strengthen the recovery case.
Source: TradingView If UNI falls below $7 as UNI wallet creation fades, Santiment said the spike could reflect short-term excitement rather than sustained adoption. If price slips under support while activity remains strong, the signals conflict. If activity fades but price holds, traders still need evidence that buyers will defend $7. Daily closes and new address counts may clarify which pattern is developing.
The two indicators answer different questions. Wallet counts show whether new addresses are beginning to interact with UNI, while price shows whether buyers are absorbing available supply. A rise in new addresses can coincide with a flat or falling token price when selling demand is stronger.
Securitize zpřístupnila na Solaně 12 tokenizovaných amerických akcií, včetně akcií společností Apple, Nvidia a Tesla, způsobilým investorům v USA, EU a dalších povolených jurisdikcích. Každý token je kryt jednou akcií, která není poskytována k zápůjčce.
Securitize has confirmed that 12 tokenized U.S. stocks, including Apple, Nvidia and Tesla, are live on Solana for eligible investors, with each token backed by a share the company says is never lent out.
Summary
12 stock tokens are live on Solana, including Apple, Nvidia, Tesla, Microsoft, and Amazon.
Securitize says backing shares are never lent out, and eligible U.S. investors can participate.
Holders receive security entitlements; direct registration requires conversion, subject to the available arrangements.
The original launch announcement dates to Oct. 8, before the latest posts confirming availability.
In its Oct. 23 X post, Securitize said that eligible investors in the United States, European Union and other permitted jurisdictions can trade the products through Securitize Stocks. Solana repeated the availability announcement, including the one-for-one backing and no-lending claims.
Securitize Stocks went live after an Oct. 8 announcement
Securitize’s original announcement named Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, SpaceX, Strategy, and Palantir in the initial offering. The latest promotional image displays the same companies, including Alphabet’s GOOGL ticker.
The company had announced the product on Oct. 8. Its Oct. 23 posts describe the stocks as available, without announcing a new set of 12 companies or a separate expansion in the number of products.
As crypto.news previously reported on Oct. 9, the stock entitlement structure gives holders an interest through an intermediary. Simply holding a token does not put the investor’s name on the underlying company’s shareholder register.
The earlier coverage identified eligibility and the precise underlying interest as questions for individual products, particularly SpaceX. Inclusion in a platform’s catalog does not by itself establish identical access conditions for every security or investor.
The Oct. 8 release named Jump Trading as a market maker supporting the initial Solana offering. It described transactions settling in USDC and identified Securitize Europe Brokerage and Markets, S.A. as the offering entity in the EU. Planned lending and collateral uses were described as future applications, including potential support through Aave.
Eligible US investors must complete onboarding
Securitize’s product page identifies Securitize Markets, LLC as the SEC-registered broker-dealer offering the stocks. The page says participation remains subject to onboarding, identity verification, and jurisdictional eligibility.
Investors can buy with USDC and hold the tokens in an approved Solana wallet, according to the product description. The page advertises trading 24 hours a day, five days a week, while describing seven-day trading as a future feature.
The platform says an underlying share is held in a segregated account for each tokenized stock. Its description includes dividend payments after applicable withholding and participation in shareholder votes.
Securitize’s disclosures state that the underlying issuers have neither sponsored nor endorsed the products. Investors hold security entitlements through the broker-dealer and become registered shareholders only if they convert.
The page warns that extended-hours trading carries additional risks. Its USDC disclosure states that the stablecoin is neither legal tender nor a bank deposit and has no FDIC or SIPC protection.
Kraken’s xStocks carry different access and ownership terms
Kraken’s tokenized stock vaults, introduced on Sep. 14, offered estimated net yields of 2% on SPYx and QQQx and 1.8% on NVDAx during the initial launch period. The products track two U.S.-listed funds and Nvidia shares.
Kraken said those tokens provide exposure to the referenced assets’ prices without the voting rights, dividend rights, or legal claims against the underlying companies associated with conventional share ownership. The vault service excluded residents of the United States, United Kingdom, Canada and Australia.
Its vault documentation described a three-day redemption process and risks including liquidation, smart-contract failures, liquidity shortages, bad debt and cross-chain transactions. Kraken warned that a stablecoin losing its peg or a custodian failing could reduce a user’s vault balance.
Separately, Payward’s Sep. 24 Ledger wallet partnership outlined hardware-wallet support for eligible xStocks customers. The companies planned deeper integration so users could buy, sell, and transfer tokens while holding their own keys.
Payward put cumulative xStocks transaction volume above $42 billion in that announcement. Its terms continued to exclude U.S. persons, and hardware-wallet support did not remove the jurisdictional restrictions. The September coverage distinguished holding tokens in a wallet from depositing them into a lending strategy.
Robinhood stock tokens use derivative contracts
Robinhood’s stock token terms describe its Classic Stock Tokens as derivative contracts under MiFID II. Holders receive exposure to a referenced asset’s price without owning the underlying shares or receiving voting rights, according to the company’s description.
Robinhood said the assets supporting those contracts were held through a U.S.-licensed institution. Its stock tokens remained unavailable to U.S. investors in the September coverage, despite referencing securities traded in American markets.
The same coverage reported approximately $44 million in Robinhood tokenized assets in a comparison that put Ondo at $857 million and xStocks at $487 million. Those figures described the assets in that comparison, rather than trading volume.
Securitize’s Oct. 8 release described possible future trading on NYSE and OKXICE venues, while its disclosures said neither venue had launched and access remained subject to approval and review. The company reserved the right to withdraw listings where needed or required.
Shiba Inu (SHIB), a popular meme-based cryptocurrency, continues to experience volatile market movements, with red numbers dominating most recent trading sessions. Despite these fluctuations, new exchange data indicates that sellers may still control the market in the near term.
Exchange Netflow on the RiseCryptoQuant, a blockchain analytics company, has reported that Shiba Inu’s exchange netflow posted a positive balance in the past 24 hours. The netflow surged to over 77 billion SHIB, reflecting an increase of nearly 4% during the period.
This spike indicates that a substantial volume of SHIB tokens has been transferred to exchanges, making them available for sale. As of October 23, the net balance reached 77,298,600,000 SHIB, suggesting that more tokens are flowing into trading platforms than being withdrawn for holding or long-term investment.
Such positive netflow trends are generally interpreted as signs of mounting selling pressure, since rising balances on exchanges can signal that holders are preparing to liquidate their assets.
CryptoQuant reported that the increase in SHIB exchange netflow means the number of tokens sent to exchanges for potential sale far exceeds those being removed, pointing to a possible continuation of bearish sentiment.
The exchange netflow metric is watched closely by traders, as it often correlates with shifts in market sentiment and can foreshadow short-term price movements.
Mini dictionary: Exchange netflow – This metric measures the difference between the amount of a cryptocurrency sent to exchanges (inflow) and the amount withdrawn from exchanges (outflow) over a set period. A positive netflow indicates more tokens moving into exchanges, often interpreted as increased selling pressure, while a negative netflow usually points to accumulation or holding trends.
MetricLast 24 hoursImplicationSHIB exchange netflow+77,298,600,000 SHIBIndicates potential selling pressurePrice movementLocal high near $0.0000051Short-term price recoveryMarket Response and Price ActionDespite increased selling pressure, Shiba Inu’s price reversed its short-term trend and moved into positive territory, reclaiming a local peak around $0.0000051. This shift brought some relief to investors, as a burst of buying temporarily offset earlier losses.
Market watchers noted that this brief upward movement could signal the potential for bullish traders to regain control if new demand materializes.
While Shiba Inu’s netflow data points to persistent selling, the recent price bounce has offered hope to participants who believe momentum could soon shift in favor of buyers.
The dynamic between exchange activity and price movement underscores the ongoing uncertainty in the meme coin segment, where rapid sentiment shifts frequently drive sudden volatility.
Circle ukončila nové emise USDC na Noble; Cosmos přechází na USDC vydávané společností Injective. Limity pro spalování v rámci CCTP V1 se začnou snižovat 31. října.
Circle is winding down USDC on Noble, and Cosmos is adopting Injective-issued USDC. Key dates: October 31 burn limits shrink, January 12, 2027 contract pause.
Circle has stopped minting new USDC on Noble, the chain that has issued the stablecoin for the Cosmos ecosystem, and the first deadline for holders arrives next week. Cosmos is shifting to a version of USDC issued on Injective, the chain behind $INJ.
What changes on October 31 and January 12According to Coinpaprika, Circle disabled new USDC minting on Noble on October 13, 2026, and will pause the Noble USDC contract on January 12, 2027. The staged timeline has burn limits shrinking from October 31, and exit routes narrowing after December 1.
The October 31 date matters because it affects the older transfer system. Blockonomi reports that CCTP V1 burn limits on Noble start shrinking on that date and reach zero on a rolling basis as the January deadline approaches. CCTP is Circle's Cross-Chain Transfer Protocol.
The reason is technical. Circle is moving to CCTP V2, and Noble will not receive it, according to Coinpaprika. The change ends USDC's legacy infrastructure on Noble rather than a withdrawal from Cosmos. Noble itself is not shutting down, edgeX notes.
Injective USDC becomes the Cosmos standardCrypto Briefing reports that Cosmos Hub, dYdX and the routing layer Skip:Go have signed on, making Injective USDC the canonical stablecoin standard across chains that previously relied on Noble for issuance.
Holders can swap Noble USDC, now displayed as USDC.n, for Injective-issued USDC, or USDC.inj, through Skip:Go. CryptoSlate reported that migration opened on September 11. The same report put the affected amount at roughly $92 million in USDC. DeFiLlama data cited by edgeX showed about 91.6 million USDC circulating on Noble as of September 11.
Holders who miss the deadlines still have a backstop, but it is narrower. Circle plans to take a snapshot of remaining balances on January 12 and open manual redemption the next day. BitRss, republishing CryptoSlate, said eligibility requires the USDC to be in a wallet controlled by the user and that holders pass Circle's compliance and security checks. USDC left in liquidity pools or smart contracts at the snapshot will not qualify, so protocol-level migration is more urgent than the January date suggests.
Cosmos Labs has urged holders to migrate before October 31 rather than wait for January, Coinpaprika reports.
SourcesCoinpaprika: Circle Pulls USDC From Noble, Forcing Cosmos Onto Injective
CryptoSlate: Circle's Noble shutdown leaves Cosmos racing to move $92 million in USDC
Crypto Briefing: Injective USDC becomes canonical USDC standard across Cosmos
Aptos na mainnetu spustil tři volitelné vrstvy soukromí: Keyless Accounts, Confidential APT a šifrovaný fond transakcí (mempool) k ochraně identity, částek a transakčních záměrů.
Public blockchains have always had an awkward relationship with privacy. Every transfer, balance and pending trade sits in the open, like a bank statement taped to a lamppost.
Aptos is trying to fix that without tearing down the lamppost. The network has rolled out three opt-in confidentiality layers on mainnet, covering who you are, how much you send and what you intend to do before your transaction lands.
The three features are Keyless Accounts, Confidential APT and an Encrypted Mempool. Together they were announced on October 13, 2026, and they mostly reach users through the Petra Wallet and related tools.
Three layers, three different problems
Layer one: identity. Keyless Accounts let people create a wallet using Google or Apple credentials. The point is that users can manage an identity on-chain without that identity being directly tied to their blockchain address.
Layer two: amounts. Confidential APT encrypts balances and transfer amounts using zero-knowledge proofs. Addresses stay visible, so the network can still verify that a transfer happened between two parties.
Layer three: intent. The Encrypted Mempool keeps transaction payloads encrypted until they are finalized into blocks. The goal is to blunt miner extractable value, better known as MEV.
The fine print
Privacy on Aptos does not come free. Encrypted transactions require a minimum gas price that is double the network’s base minimum.
There is also a compatibility gap. Certain account types, including Keyless Accounts, cannot currently sign encrypted transactions.
Every layer is opt-in. Nobody is forced into encryption, and the default experience on Aptos remains transparent.
How Aptos got here
The rollout follows a string of governance proposals. Confidential APT received approval in April 2026 and began drawing real usage afterward.
By mid-August 2026, approximately 15,000 APT had been moved into confidential pools.
Aptos itself launched in 2022. It is built on the Move programming language and uses Block-STM parallel execution, an approach designed to process many transactions at once rather than strictly one after another.
Petra, the wallet doing much of the distribution work here, already bundles a lot under one roof. It supports buying, swapping and sending assets, native APT staking, Ledger hardware wallet connections, Google and Apple social log-ins, and perpetual futures trading inside the wallet.
What this means
The most interesting design choice is what Aptos chose not to hide. Addresses remain visible under Confidential APT, which keeps a trail that auditors and compliance teams can still follow.
The use cases the network is targeting reflect that balance. Private payments and treasury operations are on the list, along with compliance pathways for participants who need them.
The doubled gas floor sets up a simple calculation for active traders. If the cost of being front-run regularly exceeds the extra fee, the encrypted route pays for itself.
The Keyless signing limitation is worth tracking. Until Keyless Accounts can sign encrypted transactions, the network’s friendliest entry point and its strongest trading protection live in separate lanes.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
In This Article BTC USD: Why Does It Matter That Retail Left Futures?Are Bitcoin ETFs Still Buying?BTC USD Price Analysis: Will $79,800 Hold?One More Thing: Does the McRib Move Bitcoin? Bitcoin (BTC USD) is holding near $81,700 on Friday, October 23, after CryptoQuant CEO Ki Young Ju said retail traders have left Bitcoin futures markets. It’s the reverse of what his data showed at the 2025 top, after U.S. spot Bitcoin ETFs took in about $1 billion in three days. The price has lost $3,000 since Wednesday’s high. The buyers haven’t left.
The Bitcoin price is down 0.2% in 24 hours and 0.6% in a week. So does a quieter futures market point to a bottom, and which levels matter for BTC USD now?
Retail traders are gone from BTC futures markets, the exact opposite of what we saw at the top. https://t.co/7cdtVHsVgG pic.twitter.com/3O4lmbOfSd
— Ki Young Ju (@ki_young_ju) October 22, 2026
BTC USD: Why Does It Matter That Retail Left Futures? Because crowded markets tend to top. CryptoQuant’s chart sorts futures trades by average order size. Through the summer of 2025, with BTC between $110,000 and $120,000 ahead of its October record, small retail orders dominated almost every day. Retail kept leading as the price slid into January.
The picture is now reversed. Since May, no stretch has been led by retail. Large whale orders marked the July low near $58,000, and mid-sized whale orders drove the rally to $87,000 in September. October is mostly neutral, with whales still active.
That doesn’t mean the bottom is in. Retail also dominated from February to April 2026, when BTC was trading between $63,000 and $75,000, and BTC still fell to $58,000 by July. What it shows is that this market is less crowded with leveraged small traders, so there are fewer of them to liquidate on a drop.
Spot money agrees. U.S. spot Bitcoin ETFs took in about $1.07 billion from Monday to Wednesday, enough to turn October’s flows positive.
DISCOVER: Bitcoin ETFs Turn October Positive With $1 Billion in Three Days While ETH Funds Bleed $1 Billion
Are Bitcoin ETFs Still Buying?
Yes, and in size. U.S. spot Bitcoin ETFs took in $526.7 million on Monday, $23.2 million on Tuesday and $524.8 million on Wednesday, about $1.07 billion in three sessions. That was enough to turn October’s flows positive.
BlackRock’s IBIT led again, with $235 million on Wednesday alone. Ethereum funds went the other way and kept bleeding money.
Put the two together, and the selling this week looks like short-term traders, not long-term money heading for the exit. ETF inflows of this size have come before past rallies.
DISCOVER: Bitcoin ETFs Turn October Positive With $1 Billion in Three Days While ETH Funds Bleed $1 Billion
BTC USD Price Analysis: Will $79,800 Hold? BTC is back inside the range it has traded in since October 10, between roughly $79,800 and $84,300. Wednesday’s push to $84,898 above the top failed within a day.
The short-term damage is a broken trendline. Thursday’s drop cut through the rising line that had held every dip since the October 15 low, and BTC is now retesting it from below near $82,000.
Update: Still alive. Bitcoin doing a little bearish retest of trendline here and we can continue down to Seppuko land. https://t.co/KaNIrsKPE8 pic.twitter.com/iIObZMGEMt
— VikingXBT (@VikingXBT) October 23, 2026
Overhead, $82,000 to $82,850 is the first wall: the trendline, the swing highs and the 4-hour moving averages. A reclaim would put $84,300 back in play.
Below, $80,876 is the 50-day EMA, and $79,800, the October 15 low, is the floor of the whole range. A quick sweep under $79,800 that reverses would be a classic shakeout and the cleanest setup for a bounce. A daily close under it would point to the 200-day EMA near $76,200.
EXPLORE: J.P. Morgan Projects 10% a Year for Bitcoin: The Bank’s Own Bear Case Points to $25,000
One More Thing: Does the McRib Move Bitcoin? Crypto Twitter has a less scientific indicator for Bitcoin. McDonald’s is bringing the McRib back “as early as 10/27,” and trader internbrah reminded more than 400,000 viewers that:
BTC historically goes up >2x after the McRib returns. Don’t fade the McRib.
The McRib is back on 10/27. BTC historically goes up >2x after the McRib returns. Don't fade the McRib.
Not financial advice. pic.twitter.com/RxBuzcVht5
— internbrah (@internbrah) October 22, 2026
We checked. Of the last seven McRib returns, BTC more than doubled within a year after two, in December 2020 and November 2023. After the November 2021 return, it topped out nine days later and lost two-thirds of its value. After the November 2025 return, it never traded higher.
McRib return BTC price Best gain within 12 months October 2019 $8,246 +49% December 2020 $19,201 +252% November 2021 $61,004 +11%, then −67% October 2022 $20,496 +68% November 2023 $35,437 +106% December 2024 $96,675 +29% November 2025 $102,997 none So the McRib is two for seven on doubling, which is about what you’d expect from a sandwich. For BTC USD, $79,800 still matters more than the menu.
EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market
#Bitcoin News Today
Why You Can Trust 99Bitcoins
10+ Years
Established in 2013, 99Bitcoins' team members have been crypto experts since Bitcoin’s early days.
90hr+
Weekly Research
100k+
Monthly Readers
50+
Expert Contributors
2000+
Crypto Projects Reviewed
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Alex Ioannou
On-Chain Journalist
Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
Free Bitcoin Crash Course Enjoyed by over 100,000 students. One email a day, 7 days in a row. Short and educational, guaranteed!
Hydration spustila v ekosystému Polkadot swapy Zcash (ZEC) s funkcemi DCA a limitních příkazů. Trhy pro půjčky a výpůjčky ZEC by měly následovat již v pondělí.
Hydration, a leading Polkadot DEX, has launched Zcash ($ZEC) swaps with DCA and limit orders, with ZEC lending and borrowing markets due as early as Monday.
Hydration (@Hydration_net), one of the main decentralized exchanges on Polkadot (@Polkadot), has launched swaps for Zcash (@Zcash) $ZEC within its ecosystem. The move brings a leading privacy token into Polkadot's DeFi stack.
Users can trade ZEC pairs through Hydration's liquidity layer. The venue supports dollar-cost averaging (DCA), limit-order execution and instant swaps for the token.
Lending and borrowing nextHydration is also scheduled to activate $ZEC lending and borrowing markets as early as Monday. Together with the swaps, the rollout gives ZEC holders a way to trade and put the asset to work on-chain without leaving the Polkadot ecosystem. The lending launch date is a target and could change.
Hydration, formerly known as HydraDX, is built around an Omnipool automated market maker that concentrates liquidity in a single pool. According to the same overview, it also runs a money market for supplying and borrowing assets and a decentralized, over-collateralized stablecoin called HOLLAR. Coin Bureau describes the Omnipool as an AMM design that concentrates liquidity into one shared trading layer rather than splitting it across many isolated pools.
Why Zcash matters for DeFiZcash is a privacy-focused asset, and access to it has been expanding across decentralized venues. In October, cross-chain protocol THORChain said native ZEC swaps were live, letting users swap ZEC for assets such as Bitcoin, Ethereum and stablecoins without wrapped tokens or a centralized custodian. Hydration's launch adds another on-chain venue, this time within Polkadot.
Liquidity will be the key test. Newer ZEC markets elsewhere have started shallow, and THORChain's Zcash pool held just over $50,000 at launch, according to Chainwire. Depth on Hydration's ZEC pairs, and how quickly lending and borrowing markets attract users, will show how much demand exists for privacy assets in Polkadot DeFi.
For Hydration, the integration extends its all-in-one offering of trading, lending and stable-value products. For Zcash, it opens a new route to on-chain use beyond the venues where the token already trades.
SourcesPolkadot DeFi Dapps overview, Polkadot Ecosystem
Top Polkadot Projects in 2026, Coin Bureau
THORChain Launches Native Zcash Swaps, Chainwire
Derive po upgradu na V3 nadále využívá Celestia k zajištění dostupnosti dat; uživatelé mohou vybírat prostředky z kontraktů na Ethereu i při výpadku nebo selhání operátora.
This case study explores Derive, an onchain options exchange that accounts for 95% of onchain premium volume at the time of writing, and why it chose to build on Celestia.
Derive: the largest onchain options venueDerive is an onchain options exchange built for professional traders, market makers, and funds. It supports options, perpetual futures, and block trades through a request-for-quote (RFQ) system, with portfolio margin across more than 20 collateral types.
As of October 2026, Derive is the largest onchain options venue, accounting for about 95% of onchain options premium volume and having processed over $40B in cumulative notional volume.
How Derive worksDerive recently launched V3, a major upgrade to support its next chapter of rapid growth with three key advantages over their previous design:
Capacity: an order-of-magnitude increase in throughputCustody: Ethereum-native custody, validity-proven state, and an escape hatch on L1Speed: faster market listings and product launches due to a simpler architectureDerive V3 achieves this by splitting the exchange into four layers:
Thanks to the V3 upgrade, Derive can now handle thousands of positions cross-margined in a single portfolio, and continue matching orders during a market-wide spike. Easier integration support also means that more wallets can offer deals like "protect my ETH below $3,000," and more yield products can offer "earn while willing to sell at $6,000," powered under the hood by Derive.
What Celestia providesCelestia ensures that user funds are safe in case the Derive operator goes offline or becomes malicious.
The validity proofs prove to Ethereum that a batch of changes is valid, but they do not tell anyone what those changes are. If the only copy of that data sat in Derive's database, a user would not be able to check their balance or withdraw if Derive went offline.
To fix this, every batch's state diff is published to Celestia, which provides two important guarantees:
Users retain their self-custody without Derive: The data needed to rebuild the full exchange state is public. Derive's database becomes a convenience instead of a dependency because if Derive went offline tomorrow, a user’s funds would still be sitting in the Ethereum contracts, and the data to prove what they are owed would still be on Celestia. They could withdraw without Derive’s permission, and even without Derive existing.
Anyone can take over settlement: The Ethereum contracts force the sequencer to process withdrawals in the order they arrive. If one sits unprocessed for two weeks, anyone can fetch the data from Celestia, run Derive’s exchange binary and propose new batches. Withdrawals continue to flow even without Derive's cooperation.
Why Derive uses Celestia
"Celestia provides the highest potential scale, economic predictability and infrastructure maturity.The speed of putting the Celestia client in the zkVM program was substantially simpler than we had thought. This would have taken a lot longer with Ethereum DA, particularly estimating gas costs."
- Josh Kim, CTO at Derive
Derive has been using Celestia since January 2024, with 43,082 blobs and 42.52 GiB in its namespace so far. When upgrading to V3, Derive is continuing to use Celestia for three reasons:
Predictable fees: Applications like Derive need predictable operating costs to ensure their economic model works, and one of their input costs is data availability fees.
Fees from alternative data availability providers fluctuate significantly over time depending on network congestion, making operating costs hard to forecast. Celestia’s fees have remained stable since launch because the network continues to scale and avoid congestion.
With 150 MB/s of capacity on Celestia mainnet and a robust scaling roadmap, Derive can rest assured that Celestia’s fees will remain stable into the future and Derive’s DA costs will remain predictable.
Room to scale: V3 increases Derive’s throughput capacity on the exchange by an order of magnitude, but that only matters if the data layer underneath can keep up. Fortunately, Celestia recently upgraded to Fibre which raised its throughput to 150 MB/s on mainnet and demonstrated the ability to hit 3 Tb/s in a recent benchmark.At Derive’s current rates, they could increase their data consumption by many orders of magnitude before hitting Celestia’s limits. This gives them ample headroom to scale their exchange in V3 and in the future.
Easy integration: In Derive’s design, a valid proof must verify the inclusion of the state diff data on Celestia. This means implementing a client of the DA layer within Derive’s zkVM program, which can be extremely difficult. Celestia’s pre-built Rust client made this integration work simple and straightforward.
Looking aheadCelestia Labs is excited to continue supporting Derive as it builds the next generation of onchain options on V3 and beyond. As more of global finance moves onchain, Derive and other onchain markets can count on Celestia to help protect their users’ funds with cheap, reliable, and scalable data availability.
If you are building an exchange, a payments system, or any onchain financial product that requires extreme scale, let’s talk.
Společnost ether.fi po akvizici vybraných aktiv služby Zeal zahájila dobrovolnou migraci uživatelů na svůj účet a kartu. Kartové služby Zealu budou ukončeny do 20. prosince 2026.
On October 23, 2026, ether.fi announced its acquisition of Zeal and opened an in-app route for Zeal users to move to its account and card product. Zeal says the deal covers selected assets, not user accounts, keys or funds, as its wallet winds down.
The move is optional. In its own announcement, Zeal said: “You choose what to move, and nothing moves automatically.” Its follow-up statement describes ether.fi as a self-custodial Visa option for users whose Zeal wallet and Gnosis Pay card services are ending.
Gnosis Pay’s migration guide says Zeal’s card services will be wound up by December 20, 2026. The guide also describes other ways to keep a Gnosis Pay account. Zeal users can choose those routes instead of moving to ether.fi.
What moves to ether.fi
The live migration page sets out four steps. Users start from the Zeal home screen and supply an email address. Entering the emailed six-digit code creates an ether.fi account. Zeal then moves the selected balance and assets into the new account. The final step is identity verification with ether.fi, followed by setting up the card.
Supported assets move across unchanged. Unsupported assets are converted during the move, incurring network fees and potentially losing some value in the conversion. The page invites users to bring their whole balance, but warns that conversion can reduce its value. It supplies neither a conversion quote nor an asset-by-asset migration table.
Opening the account creates a separate legal relationship with ether.fi. The migration page says ether.fi and Zeal remain separate companies. Users of the new account come under ether.fi’s terms and privacy policy. Eligibility, availability, fees, limits and restrictions apply; crypto assets can lose value and returns from earning products are not guaranteed. Identity verification is required before all features become available.
Keeping access to the existing Safe
Before Zeal users lose access to the old interface, Gnosis Pay’s guide tells them to add another wallet they control as a second owner of their Safe. It gives MetaMask and Rabby as examples. It says this lets them sign into the Gnosis Pay web app with that wallet and manage the account, including withdrawals. Without it, transactions still require signatures inside Zeal.
The same guide warns users taking its partner-migration route to withdraw assets from Zeal’s earn product back to their balance first. Assets left in earn will not be picked up. It specifically says Rebind’s migration tool moves assets on Gnosis and Base automatically. Those instructions describe the Gnosis Pay partner route; ether.fi’s migration page does not give equivalent detail about handling existing earn positions.
For EUR cardholders, Gnosis Pay recommends Rebind. Its guide says the account, IBAN and card carry over without new identity checks, with the existing card unchanged at that stage. Users choosing ether.fi’s published flow create a new account and complete verification before setting up the card.
Gnosis Pay describes its partner transition as a staged process. Some partner apps initially import the existing card and Safe setup. Later, when the partner programme goes live, users accept new terms and receive a partner card, with advance notice. Where the partner supports importing the existing card, users keep it for the initial move, with the replacement card coming later in the transition.
Spending balances or borrowing against them
Ether.fi’s Direct Pay documentation lists $USDC, $USDT, $EURC and $frxUSD as spendable stablecoins. It also lists Liquid USD, Liquid RWA, Liquid Reserve and Liquid EUR vault balances. Card payments can draw directly from those vault balances without a prior withdrawal.
The Set Spend Priority control selects which balance pays first. If that balance cannot cover a purchase, the card uses another balance that can. The documentation lists these assets for spending in the destination product. It does not list every asset supported by the Zeal migration.
Users who borrow also take on lending and collateral risk. According to ether.fi’s Borrow guide, eligible assets are supplied to a dedicated onchain lending market managed by ether.fi, earning variable rates determined by supply and demand. Eligible assets act as collateral automatically, and each has its own loan-to-value limit. Both the assets in the portfolio and their total value determine how much a user can borrow.
Loans must remain overcollateralized. Reaching the liquidation threshold shown in the app triggers the automatic liquidation of some collateral to restore the position. Limits on new borrowing cannot prevent market movements from pushing a position toward that threshold. Borrow can be switched off in settings once no borrowed amount remains outstanding, leaving the card operating in Direct Pay.
The terms of use separate protocol lending from the card issuer. They describe overcollateralized credit through decentralized borrowing protocols, with borrowing eligibility and limits set by protocol parameters. The issuer supplies the card used to access that credit; it does not originate the protocol loan.
Cashback has separate conditions
Ether.fi’s Zeal page advertises 3% cashback on eligible purchases up to the applicable monthly limit. The acquisition announcement advertises up to 4%. The migration page does not explain what would qualify a migrating user for the higher advertised rate.
The cashback programme terms exclude ATM withdrawals, peer-to-peer payments, tax payments, currency exchange services, gift cards and other cash equivalents. They also permit reversal of rewards after a refund, cancellation or chargeback, including by debiting the account, reducing future rewards or reducing the refund by the original reward’s dollar value.
The migration page has not published an asset-by-asset conversion schedule or explained how existing Zeal earn positions are treated in its own flow. Gnosis Pay’s stated December 20 deadline covers Zeal card services; ether.fi’s page gives no separate closing date for its migration offer.
According to official announcements, Ethena’s synthetic USD stablecoin USDe has been natively deployed on X Layer, and users can now hold and trade USDe within the X Layer ecosystem. This deployment will further enrich the application scenarios of stablecoin assets in the X Layer ecosystem, lay a foundation for the composability of future DeFi scenarios, and provide more asset options for on-chain transactions, liquidity, and yield applications. It is reported that OKX Wallet will later support USDe staking, add USDe to its existing cycle earning feature, and allow users to participate in related on-chain strategies with one click.
Relevant content
22 companies including Wells Fargo and Arm oppose trading their tokenized stocks on the OKXICE platform.
A regulatory document seen by Reuters shows that six additional companies, including Wells Fargo, Arm Holdings, and Intuit, will not allow their stocks to be tokenized on a joint trading platform backed by crypto exchange OKX and Intercontinental Exchange (ICE). These previously unreported objections highlight growing challenges facing stock tokenization. Stock tokenization refers to converting the equity representing a company’s shares into digital tokens, enabling them to be traded on blockchains like cryptocurrencies. While U.S. securities regulators have recently approved such innovative products, the pushback from these companies remains a drag on its development. The document shows that a total of 22 companies have raised objections so far. It outlines the rules for OKX and ICE’s joint project and lists the objecting firms, but does not specify the exact reasons for their objections.
Initia co-founder Zon said that based on current information, the security incident likely originates from a zero-day vulnerability in Initia’s Cosmos SDK-based MoveVM. The flaw allows attackers to mint additional tokens on Initia’s Layer 1 (L1) blockchain, but does not affect the native token INIT. Zon added that before the blockchain was suspended, the attacker had transferred out approximately $2.7 million worth of AUSD, ETH, and USDC by minting extra tokens and conducting cross-chain transfers. The team is still investigating the incident, and subsequent impacts and more details remain to be confirmed.
12 minutes ago
Extended will launch the XTEN token in November, with its tokenomics model set to be unveiled on October 31.
According to official announcements, on-chain perpetual futures trading platform Extended has announced its native token XTEN is scheduled to launch in November 2026, with the token’s economic model set to be unveiled on October 31. XTEN’s initial total supply stands at 1 billion tokens, of which 300 million (30% of the total) will be allocated to eligible participants of the Extended Points program. Qualified users will receive XTEN in their self-custodial Arc wallets at no cost. The XTEN whitepaper has been drafted in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, submitted to relevant authorities for registration, and is expected to be released on October 31.
12 minutes ago
Netanyahu seeks to leverage blockchain to counter potential future financial sanctions against Israel.
Israeli Prime Minister Benjamin Netanyahu said Friday that he has requested the development of a plan leveraging blockchain technology to help Israel address potential financial sanctions, while warning that U.S. military aid will eventually come to an end.
12 minutes ago
Initia suspends its L1 mainnet and Rollup operations due to a security incident.
Initia announced that as of 23:41:30 (UTC+8) on October 23, 2026, its L1 mainnet and Rollup have been suspended following a security incident. The project team is collaborating with security teams, validators, and exchanges to investigate and assess the specific impact scope of the incident. Initia stated that it will release verified information via official channels in the future, and reminded users to stay vigilant and treat unofficial links, messages, and related claims circulating during the event with caution.
12 minutes ago
Brent crude oil surged 3.00% intraday, now trading at $112.37 per barrel.
According to Bitget's market data, Brent crude oil surged 3.00% intraday, currently trading at $112.37 per barrel.
The XRP token has moved closer to a breakout above $1.40 as Ripple convened figures from BlackRock and the International Monetary Fund (IMF) for its Swell 2026 conference in New York. This high-profile event, which started on October 27, combines Ripple’s traditional keynote sessions with Apex, a specialized blockchain program for developers.
Institutional momentum and market impactThe presence of major global financial representatives at Swell 2026 coincided with a surge in regulated investments into the XRP ecosystem. Notably, clients of leading asset manager Franklin Templeton purchased $3.55 million worth of XRP ETF shares, contributing to a breakthrough from months-long price consolidation.
Recent trading activity has seen XRP stabilize within the $1.32 to $1.33 range, approaching a significant psychological resistance level. Market observers are watching for a breakout, with the token’s momentum supported by growing practical applications of the XRP Ledger (XRPL).
Recent inflows from institutional investors such as Franklin Templeton have helped push XRP out of its previous consolidation range, renewing attention on the token’s potential for a near-term breakout.
Market participants are now focusing on whether the XRPL, Ripple’s decentralized blockchain infrastructure, is positioned to become the primary standard for facilitating institutional capital flows. The participation of Wall Street leaders at the conference is expected to influence broader investor sentiment.
Strategic goals for BlackRock and the IMFBlackRock and the IMF are not seeking exposure to the XRP token itself. Their focus is on the integration of liquidity management and artificial intelligence solutions being developed through Ripple’s platform. These innovations could potentially form the backbone for advanced settlement hubs serving global finance.
Ripple’s XRPL, which supports multiple assets since its launch in 2012, features an auto-bridging mechanism. Developers see this as a potential foundation for a new era of payments automated by AI agents, further enhancing the network’s appeal to institutional participants.
Mini dictionary: Apex, a developer-focused blockchain summit that operates alongside Ripple’s Swell event, facilitates technical collaboration and showcases innovations within the XRP Ledger ecosystem.
This year’s conference also highlights Ripple’s stablecoin, RLUSD, and its scaling prospects within the On-Demand Liquidity (ODL) system. Binance, a leading global cryptocurrency exchange, is attracting retail attention through a campaign to distribute 600,000 XRP among RLUSD holders until mid-November. Meanwhile, institutional investors are evaluating the long-term fundamentals of these assets.
EntityRecent ActionFocusFranklin TempletonBought $3.55 million XRP ETFInstitutional investmentBlackRockAttending Swell 2026Liquidity integration, AI paymentsIMFAttending Swell 2026Settlement hub innovationBinance600,000 XRP campaignRetail engagement in RLUSDRipple’s cross-border payment solutionsRipple is using the Swell conference to present its strategic partnership with Arf, a Swiss fintech firm specializing in cross-border financial infrastructure. This alliance aims to accelerate global settlements using RLUSD, with settlement times ranging from one to five days and prospects for extending credit lines in the future.
By hosting Swell 2026 in New York alongside key players like BlackRock and the IMF, Ripple intends to showcase the readiness of its technologies for real-world financial applications. The company positions these developments as crucial steps that could help XRP overcome its longstanding price resistance.
Ripple’s expansion into cross-border settlements and stablecoin scaling is drawing renewed interest from both retail and institutional investors, raising expectations for XRP’s performance in global markets.
Zircuit, a Zero-knowledge rollup redefining secure and automated finance on Web3, relies on Orochi Network’s Orocle and Orand to power its vision. With Orocle delivering trustworthy real-time data and Orand ensuring fast, verifiable randomness, this partnership tackles critical challenges in decentralized finance and gaming. Together, we enhance Zircuit’s AI-driven security and low-cost efficiency, paving the way for a new era of scalable, trustless dApps.
Introduction to Zircuit
Zircuit (@ZircuitL2) is a cutting-edge Ethereum Virtual Machine (EVM)-compatible Zero-Knowledge rollup tailored for secure and automated finance in the Web3 space. By blending proven rollup technology with Zero-Knowledge Proofs (ZKPs), Zircuit delivers faster transactions, lower fees, and heightened security compared to traditional blockchains. Its standout feature is Sequencer Level Security, where artificial intelligence (AI) actively monitors the mempool to detect and block malicious transactions before we’re processed. This proactive approach makes Zircuit an ideal platform for decentralized applications (dApps) in finance, gaming, and beyond.
With Mainnet Phase 1 launched in August 2024 and over $2.5 billion in staked assets, Zircuit is rapidly gaining traction as a leader in the blockchain ecosystem.
Zircuit (@ZircuitL2) is a cutting-edge Ethereum Virtual Machine (EVM)
The Role of Orochi Network
Orochi Network (@OrochiNetwork) is a Verifiable Data Infrastructure that leverages ZKPs to provide secure, scalable, and privacy-preserving solutions for Web3. We offer Orocle, a decentralized oracle, and Orand, a high-throughput Verifiable Random Function (VRF) to Zircuit. Orocle delivers trustworthy external data, such as price feeds or market information, while Orand generates fast, verifiable randomness for applications requiring unpredictability. Together, we address critical challenges in Zircuit’s ecosystem, enhancing its ability to support secure and automated dApps.
Orochi Network’s Orocle and Orand elevate Zircuit’s capabilities
Why Zircuit Needs Orochi
Zircuit’s mission to power automated finance hinges on two key requirements: reliable external data and secure randomness. Financial dApps—like Decentralized Exchanges (DEXs), lending platforms, or yield optimizers—rely on real-time data to function effectively. However, centralized oracles can introduce risks like manipulation or downtime, undermining trust. Similarly, gaming or lottery dApps need randomness that’s both fair and verifiable to ensure equitable outcomes, but on-chain randomness generation is often slow and costly. Orochi’s Orocle and Orand solve these issues by** providing decentralized**, **cryptographically **secure solutions that align with Zircuit’s focus on performance and security.
Use Case: Automated Trading Bot with Orocle
Imagine a decentralized trading bot deployed on Zircuit, designed to execute trades based on real-time market conditions. Here’s how Orocle powers this use case:
Trigger: The bot needs the current ETH/USD price to decide whether to buy or sell.
Orocle in Action: Orocle fetches the price from multiple decentralized sources, aggregates it off-chain, and generates a ZKP to prove its accuracy.
Efficient Validation: Using ZK-data-rollups, Orochi compresses the proof for quick on-chain verification, minimizing gas costs.
Zircuit’s Role: The bot’s smart contract validates the proof on Zircuit and receives the verified price.
Outcome: If the price meets the bot’s criteria (e.g., ETH/USD > $2,000), it executes the trade—all within seconds.
This use case showcases Orocle’s ability to deliver secure, low-latency data that’s critical for automated financial strategies. By eliminating reliance on centralized oracles, Orocle enhances trust and reduces risks, perfectly complementing Zircuit’s AI-driven security.
Use Case: Decentralized Lottery with Orand
Now consider a lottery dApp on Zircuit, where players bet tokens for a chance to win a jackpot. Orand ensures fairness with verifiable randomness:
Trigger: The lottery needs a random number to select the winner once the entry period ends.
Orand in Action: Orand generates a random number off-chain, backed by a ZKP to prove it wasn’t tampered with.
Scalable Proof: The proof is optimized via ZK-data-rollups for efficient on-chain validation.
Zircuit’s Role: The lottery contract verifies the randomness on Zircuit and determines the winner.
Outcome: The jackpot is awarded to the player whose ticket matches the random number, with full transparency.
Orand’s high-throughput VRF ensures the lottery can handle frequent draws without bottlenecks, making it ideal for gaming dApps on Zircuit. Its cryptographic verifiability guarantees fairness, boosting user confidence.
How Zircuit Integrated on Orochi Network
How the Integration Works
The integration of Orocle and Orand with Zircuit is seamless due to Orochi’s blockchain-agnostic design and compatibility with Zircuit’s EVM and ZKP architecture. Here’s the process in a nutshell:
Data Flow: Orocle retrieves external data or Orand generates randomness off-chain.
Proof Generation: Orochi creates ZKPs to verify the data or randomness, optimized for efficiency.
On-Chain Validation: Zircuit’s smart contracts validate these proofs, leveraging its hybrid infrastructure.
Result: dApps access verified outputs instantly, maintaining security and performance.
This synergy enhances Zircuit’s ecosystem by adding a layer of trust to the data and randomness that dApps rely on.
Benefits for Zircuit
The integration of Orochi’s solutions brings tangible advantages to Zircuit:
Trustworthy Data: Orocle provides decentralized, verifiable price feeds and market data, vital for financial automation.
Fair Randomness: Orand delivers fast, secure randomness for gaming and beyond, ensuring unbiased outcomes.
Developer Appeal: Access to reliable data and randomness attracts more dApp builders to Zircuit.
Real-World Impact
With over 100 ecosystem partners (e.g., Renzo, DODO, Ethena) and a growing user base, Zircuit benefits significantly from Orochi’s integration. For instance, Orocle’s 70% reduction in oracle latency (compared to industry standards) ensures financial dApps run smoothly, while Zircuit’s 50x faster transactions amplify this efficiency. Together, we create a robust platform for next-generation DeFi and gaming applications.
Conclusion
Orochi Network’s Orocle and Orand elevate Zircuit’s capabilities, enabling secure, automated finance with unparalleled trust and performance. Whether it’s powering trading bots with real-time data or ensuring fair lotteries with verifiable randomness, this integration unlocks new possibilities for Zircuit’s ecosystem. As Web3 adoption grows, Zircuit—backed by Orochi—stands poised to lead the charge in decentralized innovation.
Od 1. října vybralo 40 nových peněženek prostřednictvím Wintermute 9 458 BTC v hodnotě přibližně 771,5 milionu USD, což naznačuje akumulaci ze strany velkých držitelů.
Bitcoin is navigating a challenging economic environment as Brent crude oil maintains levels above $100 per barrel, raising concerns about persistent inflation and the availability of fresh liquidity in global markets. CryptoQuant analyst Darkfost highlighted that strong oil prices historically coincide with slower Bitcoin price momentum, though he emphasized that this pattern does not represent a confirmed causation.
Brent crude’s influence on Bitcoin and market liquidityAccording to Darkfost, ongoing geopolitical tensions in the Gulf region and intensified Ukrainian operations targeting Russian refineries have pushed energy prices higher. Elevated fuel costs can impact a broad range of industries, including manufacturing, transportation and services, contributing to rising prices across the economy.
“Over the long term, periods when Brent oil trends strongly above its annual average have typically seen Bitcoin’s upward momentum slow, though distinct causal links remain unproven,” stated Darkfost of CryptoQuant.
Brent crude recently hovered near $104, compared to an average range of $60 to $70 earlier in 2026. The commodity’s 365-day moving average is now rising following an extended downtrend.
Available data since 2014 shows that when Brent trades significantly above its yearly average, Bitcoin often underperforms. Several such episodes—such as in 2018, parts of 2021 and 2022, and periods throughout 2026—demonstrate this market relationship. However, not every increase in oil prices led to a drop in Bitcoin, underscoring the complex interplay between the two markets.
Darkfost argued that broader economic conditions, rather than oil prices alone, ultimately drive investor behavior. In an inflationary environment, access to capital and appetite for higher-risk assets like cryptocurrencies can diminish. Persistently high energy prices further complicate decisions for the Federal Reserve, as officials navigate balancing inflation risks with the goal of supporting economic growth.
If inflation does not subside, the Federal Reserve may be less inclined to loosen monetary policy, creating a less favorable backdrop for new investment in digital assets. Sustained high borrowing costs and elevated yields could make allocating capital to Bitcoin less attractive for some investors.
Nevertheless, the analyst noted that Bitcoin responded positively during brief intervals of reduced macroeconomic strain, as seen in July. Oil prices subsequently rebounded, but Darkfost did not rule out the potential for further gains, cautioning instead that persistent high energy costs may limit the flow of new liquidity into cryptocurrencies.
Mini dictionary: CryptoQuant is an on-chain analytics platform specializing in blockchain data and market intelligence for digital assets.
Whale activity: over $770 million in BTC withdrawnWhile macroeconomic pressure persists, large Bitcoin holders are increasingly moving considerable sums of cryptocurrency. Blockchain analytics provider Lookonchain reported that since October 1, forty newly-created wallets have withdrawn a combined 9,458 BTC—valued at approximately $771.5 million—through Wintermute, a leading digital asset trading firm known for providing market liquidity and institutional solutions.
Mini dictionary: Wintermute is a prominent global algorithmic trading firm providing liquidity and facilitating large-scale transactions in the digital asset markets.
These large-scale withdrawals suggest some whales are accumulating Bitcoin even amid sluggish overall momentum. However, transfers from exchanges or trading firms to private wallets do not confirm whether these represent new purchases, nor do they reveal the identities of the wallet holders. It also remains unclear if the recipients are distinct institutional investors or addresses controlled by a single entity.
Lookonchain’s observation highlights ongoing interest in Bitcoin by large market participants, but the data cannot confirm broader buying activity across the market. Moving coins between wallets is not equivalent to net buying pressure, and cannot guarantee immediate impact on price direction.
MetricValueBTC Withdrawn9,458 BTCUSD Value$771.5 millionNumber of wallets40PeriodSince October 1Main partyWintermuteEven as large withdrawals signal ongoing accumulation by whales, these movements alone do not demonstrate a market-wide trend toward new investments or establish a firm timeline for Bitcoin’s potential recovery.
Both the oil market analysis and whale activity measure distinct aspects of the current environment: energy prices frame the macroeconomic backdrop and potential liquidity constraints, while wallet movements illustrate how major Bitcoin holders position themselves under these conditions.
For now, no clear correlation guarantees either immediate price gains or losses for Bitcoin. Darkfost pointed to Brent’s performance above its annual average as the metric to monitor—should oil recede below $100 and fall under its yearly benchmark, pressure on Bitcoin could ease and create room for new market momentum.
Průzkum společnosti River odhaduje, že bitcoin vlastní 49,6 milionu dospělých Američanů (18,6 %) oproti 28,8 milionu dospělých Američanů, kteří vlastní zlato (10,8 %).
Gold has been humanity’s favorite store of value for thousands of years. Bitcoin launched in January 2009. In the US, the newcomer now has more owners.
A research report released by River in July 2026 estimates that approximately 49.6 million American adults own Bitcoin. That works out to 18.6% of the adult population, compared with 28.8 million adults, or 10.8%, who report owning gold.
According to the report, this is the first time on record that Bitcoin ownership has overtaken gold.
The numbers behind the flip
The gap is wide. By River’s count, US Bitcoin owners outnumber gold owners by roughly 20.8 million people.
River’s data shows Bitcoin ownership rising from 14.3% to 18.6% of US adults in approximately six months.
The report credits much of that growth to easier access. Exchange-traded funds, mobile apps and a range of exchanges have made buying Bitcoin more accessible. River also links the trend to a broader cultural shift in how Americans view digital assets.
River isn’t the only outfit reporting this pattern. Earlier surveys from the Nakamoto Project, which collected data from late 2024 to early 2025 and published findings by mid-2025, landed in similar territory. Those surveys counted roughly 48 to 50 million Bitcoin owners, compared with about 37 million gold owners.
The two studies disagree on the gold figure. Their Bitcoin estimates sit in the same neighborhood, though, and both put Bitcoin ahead.
Beyond individual wallets
Individual ownership is only part of the US picture. American exposure to Bitcoin also runs through corporate treasuries and government vaults.
Americans are estimated to hold about 42% of the total global Bitcoin supply.
US public companies collectively hold approximately 1.24 million BTC. According to the research, that represents about 93% of corporate Bitcoin holdings worldwide.
The US government holds around 328,000 BTC, valued at over $26 billion. Most of it came from asset seizures rather than deliberate purchases.
A wrinkle in the data
Not every survey tells the same story. Gallup reported that 9% of US adults owned crypto as of June 2026. That figure was down from 14% the previous year.
That sits awkwardly next to River’s 18.6% Bitcoin figure. Bitcoin is a subset of crypto, so on paper, Bitcoin ownership shouldn’t exceed overall crypto ownership.
The likeliest explanation is that the surveys ask different questions of different samples. Some respondents may also not think of an ETF holding as “owning crypto.” The research frames the Gallup data as a sign that Bitcoin is pulling ahead of other digital currencies, even as broader crypto ownership slips.
What this means
River’s numbers suggest that among individual Americans, the default “alternative asset” may be shifting. The research suggests that could encourage institutions to allocate more toward Bitcoin, as it gains acceptance as a legitimate asset class.
The concentration figures cut both ways. The US holds about 42% of global Bitcoin supply, and US public companies account for about 93% of corporate holdings. That gives American policy decisions outsized influence over the asset, meaning regulatory moves on ETFs, corporate accounting or the handling of seized coins could ripple through the market.
What to watch next: whether the growth rate River measured holds up, and whether other pollsters converge on similar figures. The six-month climb from 14.3% to 18.6% is striking. And if Gallup’s lower crypto numbers keep diverging from Bitcoin-specific surveys, expect a debate over methodology to follow.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Parker Lewis tvrdí, že Bitcoin by mohl jednou vypořádávat globální platby; obchodníkům by přímé přijímání BTC ušetřilo 3% poplatky za karetní transakce a eliminovalo zpětná zúčtování plateb.
Parker Lewis, author of “Gradually, Then Suddenly,” has argued that Bitcoin is poised to eventually settle all global payments. In a recent interview, Lewis pointed to the increasing burdens on the credit system, citing $107 trillion in global debt, and outlined how these factors could accelerate Bitcoin adoption for payment settlement.
Bank Failures and the Payment RevolutionLewis explained that major bank closures in 2023 convinced him the payments infrastructure is Bitcoin’s most vital role, rather than custody or reserve functions. He noted that the banking instability showcased vulnerabilities in traditional finance and made decentralized alternatives more attractive to individuals and businesses alike.
Discussing merchant adoption, Lewis highlighted that businesses can bypass traditional card networks by accepting Bitcoin directly. He emphasized these advantages by stating that merchants avoid the typical 3% card processing fees and eliminate risks related to chargebacks.
Parker Lewis described the shift in payments as essential, stating that merchant adoption of Bitcoin means, “Fewer fees, no chargebacks, and a more direct payment system.”
This focus on direct payments, according to Lewis, could drive Bitcoin’s real-world usage beyond its perception as just an asset or reserve currency.
Debt, Macro Strain, and Dollar RelevanceLewis also addressed the strain in the global credit system, citing over $107 trillion in worldwide debt—up starkly from $52 trillion in 2007. He said escalating interest rates, with mortgages above 7% and corporate refinancing costs at nearly 10%, signal deeper systemic stress.
He added that traditional tools of the Federal Reserve and the US Treasury are losing efficacy, leaving large-scale money creation as one of the only remaining responses to rising financial pressures.
According to Lewis, in such an environment, the dollar price of Bitcoin gradually becomes irrelevant as the system transitions to more direct digital settlements and away from depending on fiat currency denominations.
He claimed that “over time, as more payments are made through Bitcoin, the importance of its price in dollars will diminish.”
Lewis further critiqued the alignment issues between Bitcoin treasury companies and their investors, asserting that simply holding Bitcoin does not automatically drive long-term value or innovation.
Payments Infrastructure and Technical DebatesDebating the technical side, Lewis argued that Bitcoin’s real innovation comes through closing the value transfer loop and using payment networks, such as the Lightning Network, to provide scalable, instant settlements.
He also discussed the constraints of on-chain transaction capacity versus off-chain solutions like Lightning, suggesting that the payments architecture will need to evolve dramatically to reach the projected scale.
Mini dictionary: Lightning Network, a second-layer payment protocol for Bitcoin, enables faster and lower-cost transactions by creating off-chain channels that eventually settle on the main blockchain. It is seen as a critical tool for scaling Bitcoin to handle global payment volumes.
Lewis’s viewpoint has sparked further debate about Bitcoin’s long-term utility and the future of global payment settlements.
Circle has widened the scope of Gateway, its crosschain balance product. On October 23, 2026, the company added support for cirBTC and EURC, two assets that previously sat outside a system built around USDC.
The pitch is simple. Instead of tracking separate piles of the same token on a dozen blockchains, a user holds one unified balance per asset and spends it wherever it’s needed.
What Gateway actually does now
According to the research findings, funds become accessible in under 500 milliseconds once a deposit is finalized.
The update also brings gas-free Nanopayments to cirBTC and EURC. Gas fees are the network charges users pay to process a transaction. Removing them matters most for tiny, frequent payments, where a fee can easily exceed the payment itself.
Circle is positioning the feature for businesses, wallets and agentic applications. That last group means software agents that transact on their own, often in high volumes and small amounts.
Liquidity works on an on-demand model. Rather than parking capital on every chain ahead of time, users pull it where it’s required, when it’s required.
Gateway remains non-custodial, per the research findings. Users also keep a 7-day trustless withdrawal option. Put plainly, there’s a route to get funds out without relying on Circle’s cooperation, at the cost of a week’s wait.
Cumulative transfers through Gateway surpassed $10 billion by mid-October 2026, according to the research.
The two new assets, and the road here
cirBTC is Circle’s Bitcoin-backed token. Each unit is backed 1:1 by native Bitcoin held by a regulated Circle entity. It launched on August 21, 2026, so it took roughly two months to go from debut to unified-balance support.
EURC is Circle’s euro stablecoin. It is backed by full euro reserves and complies with MiCA, the European Union’s Markets in Crypto-Assets framework. MiCA is the EU’s rulebook for crypto issuers, and compliance is effectively the entry ticket for serious euro-denominated business in the bloc.
The Gateway move follows a September 2026 expansion of CCTP, Circle’s Cross-Chain Transfer Protocol. That upgrade enabled native EURC transfers across multiple blockchains, including Arc and Ethereum. Arc is Circle’s own layer-1 network.
The research also notes that developers can adopt the new assets without significant changes to existing setups.
What this means for businesses and builders
A single balance per asset shrinks the capital buffer required across chains. Money that once sat waiting on five chains can sit in one place and move when called.
Adding a MiCA-compliant euro stablecoin gives European businesses a native-currency option, rather than forcing every flow through a dollar conversion.
cirBTC addresses a different need. Plenty of users want Bitcoin exposure inside applications that don’t run on the Bitcoin network. A token backed 1:1 by native Bitcoin, now spendable across chains from one balance, makes that exposure easier to use in payments and treasury workflows.
There is a nuance worth keeping straight. Gateway itself is non-custodial, but cirBTC’s backing depends on Bitcoin held by a regulated Circle entity. Users are still trusting Circle’s custody of the underlying asset, even if the balance layer doesn’t hold their funds. Those are two separate trust questions, and treating them as one would be a mistake.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Prototyp PISA kombinuje Payjoin a CISA a mohl by u spolupracujících bitcoinových transakcí snížit jejich velikost i poplatky o 7–26 %. Návrhy BIP 458 a 459 však zatím nejsou aktivní.
Privacy on Bitcoin has always come with a surcharge. A new prototype called PISA is trying to lower the bill.
Developers demonstrated PISA on October 23, 2026, during the Plan ₿ Week and Forum events in Lugano, Switzerland. The project combines Payjoin with Cross-Input Signature Aggregation, better known as CISA, to make collaborative Bitcoin transactions smaller and cheaper.
What PISA actually does
Start with the two ingredients. Payjoin, defined in BIP77 and BIP78, is a method for collaborative transactions with built-in privacy features.
Collaborative transactions pull in inputs from more than one source. That makes them harder for outside observers to read, which is the privacy benefit.
The catch is size. Every input in a Bitcoin transaction normally carries its own signature, and every signature takes up space.
CISA attacks that problem directly. It lets multiple signatures across different inputs be aggregated together, rather than each one sitting in the transaction separately.
PISA stitches these two ideas into a single working prototype. The goal is to keep Payjoin’s privacy while using CISA to trim the transaction’s footprint.
The numbers and the people behind them
The savings are not trivial. CISA proposals could cut transaction size and fees by approximately 7–26%, depending on the type of transaction.
The biggest wins should land on multi-input payments. Those are exactly the transactions common in tools like CoinJoin and Payjoin.
Fabian Jahr and Dan Gould are the primary developers on PISA. Both emphasized the potential for meaningful fee savings in cooperative transactions.
The project is a collaborative effort involving the Payjoin Dev Kit and Brink. Cypher Tank supported the Lugano demonstration.
The team did not keep the work behind a curtain. Developers showcased the code and specifications during the event and made them publicly available through a dedicated project website at pisa.payjoin.org.
Discussion on social media following the demo focused on user experience improvements.
Still a draft, not a deployment
Now for the fine print. The CISA proposals behind PISA remain in the research and specification phase.
The relevant draft Bitcoin Improvement Proposals, BIP 458 and BIP 459, have not been activated on the Bitcoin network. Until they are, the savings PISA demonstrates live in a prototype, not in your wallet.
Work on improving collaborative transactions has continued since the Taproot activation in 2021, with developers looking for ways to boost privacy while reducing the costs of using these newer transaction methods.
PISA is one of the more concrete outputs of that effort. It turns a set of specifications into something people can actually run and inspect.
What this means for Bitcoin users and builders
For wallet developers and infrastructure teams, PISA offers a reference point. Public code and specifications give builders something tangible to evaluate ahead of any protocol change.
For investors, the near-term picture is more modest. PISA is protocol research, and its direct impact depends on whether BIP 458 and BIP 459 move from draft to activation.
Progress on BIP 458 and BIP 459, developer feedback on the published PISA code, and any wallet teams experimenting with the prototype will signal whether this demo becomes a building block or stays a conference highlight.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Block spustil celonárodní kampaň „Bitcoin Does“, která má oslovit odhadem 60 milionů Američanů, kteří se zajímají o digitální měny, ale na trhu se dosud neangažují.
Block has introduced its first large-scale advertising campaign for Bitcoin, called “Bitcoin Does,” aiming to engage the estimated 60 million Americans with an interest in digital currency but who have not yet participated in the market.
New campaign strategy targets mass adoptionThe “Bitcoin Does” campaign marks a shift in Block’s outreach approach, focusing on demonstrating real-life uses for Bitcoin instead of delving into complex technical aspects such as mining or blockchain. The company seeks to present Bitcoin as a straightforward and practical financial solution, responding to the questions and concerns of everyday consumers.
Maria Pesce, who leads Bitcoin marketing at Block and works across its Cash App, Square, and Proto product lines, explained the rationale behind the campaign. Pesce stated that feedback from potential users highlighted a need for clearer messaging that emphasizes Bitcoin’s tangible benefits.
Pesce reported that Block’s research showed many people are seeking “more honest money” and are trying to understand how Bitcoin fits into their daily lives.
Customer insights inform campaign messagingThe concept behind the “Bitcoin Does” campaign emerged from insights gathered through conversations with Cash App users and Square merchants. Many expressed frustration with inflation, financial bailouts, and private equity practices, motivating Block to position Bitcoin as a more transparent and accessible alternative.
Pesce highlighted that messages from small business owners influenced the campaign’s narrative, with several describing Bitcoin as “more honest money.” The marketing materials focus on Bitcoin’s fixed supply, self-custody options, and why younger generations are increasingly choosing the cryptocurrency for its perceived stability and transparency.
Interactive experiences and payment innovationBlock also used experiential marketing, debuting its “Lightning Lake” activation at ComplexCon, a cultural event. At this venue, attendees engaged in interactive activities such as “fishing for Bitcoin” and making payments via the Lightning Network, a second-layer protocol that enables faster, low-fee transactions over the Bitcoin network.
Mini dictionary: The Lightning Network is a second-layer scaling solution for Bitcoin that allows for instant transactions between users and reduces congestion and fees on the main blockchain, making micro-payments practical.
Block’s design philosophy aims to make using Bitcoin as simple as sending email, underlining the company’s focus on accessibility. The company also promotes 0% Bitcoin transaction processing fees on Square, further incentivizing merchants and customers to adopt digital payments.
Block’s team emphasized that design choices and customer experience are crucial for helping new users reach “light bulb moments” where the advantages of Bitcoin become clear.
Block’s expanding role in the digital ecosystemFounded by Jack Dorsey, Block is a financial services and technology company known for its prominent brands including Cash App and Square. The company is expanding its reach in the digital asset sector, developing tools and experiences that aim to simplify and promote Bitcoin adoption.
The launch of this campaign coincides with Block’s efforts to join broader technology alliances. The company recently aligned with major firms such as Nvidia, Microsoft, and Visa in initiatives focused on developing secure artificial intelligence applications.
By prioritizing practical demonstrations and tailored messaging, Block intends to bridge the gap between curiosity and active participation among millions of prospective Bitcoin users in the United States.
CoinShares: Bitcoin podporují obnovené nákupy na spotovém trhu, jeho růst však brzdí vyšší než očekávaná inflace v USA a očekávání přísnější měnové politiky Fedu.
Bitcoin, the leading cryptocurrency, is fluctuating within a narrow range of $80,000-$84,000, with the anticipated major surge failing to materialize. In its latest report, CoinShares analyzed the factors limiting the rise in BTC.
According to CoinShares, Bitcoin is showing resilience to declines thanks to a recovery in spot buying and an improvement in market sentiment, while high inflation and interest rate hike expectations in the US are limiting the upside potential in the cryptocurrency market.
Spot Buying Supports Bitcoin, Suppresses Inflation and Interest Rates! According to CoinShares’ latest assessment, Bitcoin is exhibiting a relatively strong performance despite volatility in risky assets. The recovery in spot market buying, improved sentiment in equity markets, and the closing of short positions are among the key factors supporting the Bitcoin price.
In contrast, inflation data released in the US continues to be a significant risk for the cryptocurrency market. The consumer price index (CPI) exceeded expectations in September, raising concerns about inflation and interest rates.
Higher-than-expected inflation is also making it more difficult for the Fed to ease monetary policy and is reducing expectations of interest rate cuts. The possibility of interest rates remaining high for a longer period or a new increase could increase pressure on non-yielding assets like Bitcoin.
At this point, the market is also closely watching the possibility of another interest rate hike in December. The probability of rates remaining unchanged in October is priced at 90.6%, while the probability of an interest rate hike in December is priced at 68.8%.
Uncertainty Continues for Bitcoin! CoinShares concludes its assessment by stating that in the short term, spot demand, as well as inflation, interest rate expectations, and liquidity conditions, could be decisive factors in Bitcoin’s trajectory. While spot purchases support the price, concerns about tight monetary policy pose an obstacle to a sustained rise.
Therefore, the direction of Bitcoin is expected to be shaped by upcoming economic data and policy signals from the Fed.
*This is not investment advice.
Follow our Telegram and X account now for exclusive news, analytics and on-chain data!
Z neznámé peněženky bylo na Coinbase Institutional převedeno 789 BTC v hodnotě přibližně 64,31 milionu USD. K převodu došlo v době čistých odlivů z amerických spotových ETF na bitcoin.
Coinbase official logo (public domain, Wikimedia Commons) — CryptoBriefing brand treatment
A large transfer of 789 Bitcoin, valued at approximately $64.31 million, was made from an unidentified wallet to Coinbase Institutional, according to Whale Alert. This transaction comes amid Bitcoin’s price in the range of $81,500 to $81,900 on October 23, 2026, following a recent decline from around $84,800. The movement of such a significant amount of Bitcoin to an institutional platform like Coinbase suggests potential institutional interest, although the exact purpose and ownership of the wallet remain unclear. Meanwhile, U.S. spot Bitcoin ETFs have been experiencing net outflows, adding another layer of complexity to the current market dynamics.
Key Takeaways The transfer of 789 BTC to Coinbase Institutional suggests potential institutional involvement, which could indicate interest in higher price levels. Bitcoin has been in a range between $81,500 and $81,900, with previous highs at $84,800, suggesting a cautious market environment. The recent net outflows from U.S. spot Bitcoin ETFs suggest mixed sentiment among institutional participants. What to Watch Any further large transfers or institutional activity could influence Bitcoin’s price direction. The impact of this transfer on the market remains to be seen, particularly if it aligns with any significant announcements or shifts in institutional strategy. Additionally, any changes in the ETF inflow/outflow patterns may indicate shifts in institutional sentiment and its effect on Bitcoin’s potential to reach higher price thresholds.
Term Structure
Contract Odds Δ since publish Volume 24h October 24 2026 0.9% — — View market → October 24 2026 13% — — View market → October 24 2026 3.5% — — View market → October 24 2026 1.2% — — View market → October 24 2026 3.5% — — View market → October 24 2026 13.5% — — View market →
Společnost Franklin Templeton dokončila regulatorní krok před spuštěním ETF FBEQ a inovačního fondu, které reinvestují dividendy z amerických akcií do bitcoinu.
Franklin Templeton has taken the last regulatory step before launching two exchange-traded funds that convert stock dividends into bitcoin.
On October 22, Franklin Templeton filed a Form 8-A with the Securities and Exchange Commission to register shares of the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF for trading on the Nasdaq. A prospectus filed the same day lists an effective date of October 27.
The filings for both funds arrived in June without tickers or fees. Four months later, the details are in.
How the funds work The Equity fund, ticker FBEQ, tracks the VettaFi US Large-Cap 500 Bitcoin DRIP Index. The index holds the 500 largest U.S. companies by market capitalization, weighted by float-adjusted market cap.
As of September 30, it held 499 stocks ranging from $10.2 billion to $5.5 trillion in size, with a concentration in information technology.
At inception, the index allocates 95% to those stocks and 5% to bitcoin. Each dividend the companies pay, regular or special, is reinvested into bitcoin at the market open on the day after the ex-date. The bitcoin share of the portfolio grows with each payment.
A traditional dividend reinvestment plan, or DRIP, buys more shares of the company that paid the dividend. Franklin’s version routes that cash into bitcoin.
For a holder, the dividend stream from the largest companies in America becomes a recurring bitcoin purchase, with no exchange account, no wallet and no custody decisions.
The bitcoin position has limits. At each quarterly rebalance, an allocation above 5% is trimmed to 4.5%. If bitcoin exceeds 20% of the index between rebalances, it is cut back to 4.5% within two business days, and the proceeds return to stocks. The result is a stock fund with a bitcoin sleeve, not a bitcoin fund.
The ETF does not hold bitcoin on-chain. It gains exposure through bitcoin exchange-traded products, including Franklin’s own spot fund, through bitcoin futures and options, or through depositary receipts, in some cases via a Cayman Islands subsidiary.
FBEQ carries a 0.09% expense ratio with no 12b-1 fee. Franklin Advisory Services manages the fund, with Franklin Templeton Institutional as sub-advisor. Dina Ting, Hailey Harris, Joe Diederich and Basit Amin serve as portfolio managers.
The Innovation fund follows the same mechanic on the VettaFi US Innovation 100 Bitcoin DRIP Index, which draws from the 100 largest non-financial companies listed on the Nasdaq.
A deeper bet on bitcoin Franklin Templeton filed for a spot bitcoin ETF in September 2023 and launched it as EZBC in January 2024. In April, the firm acquired 250 Digital and formed Franklin Crypto, an institutional digital asset division. Franklin Templeton CEO Jenny Johnson has argued that blockchains threaten Wall Street’s fee structure more than its technology.
The DRIP funds extend that strategy to investors who may never buy bitcoin on their own. A retiree holding an S&P 500-style fund in a brokerage account can, through FBEQ, let dividends from the companies she already owns build a bitcoin position over years.
The prospectus warns that investors can lose money, and that bitcoin’s price swings may affect the fund’s net asset value. Whether that trade-off appeals to the audience Franklin Templeton is targeting will become clear after October 27.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Payment activity on the XRP Ledger has surged, with recent statistics from XRPScan showing payment volume reached 770.6 million XRP in the latest 24-hour period. This marks a 119.6% increase compared to the previous day. The figure is significantly above the 30-day average of 601.9 million XRP, indicating a sudden return of network activity after a period of stagnation. Despite this notable spike, the all-time high for daily payment volume remains much higher at 7 billion XRP, suggesting that current levels, while robust, are still far from record territory.
Network activity rebounds after slow periodA review of the past year reveals that XRP payment volumes have been highly volatile, with notable peaks approaching 2.6 billion XRP both in November and February. Outside of these bursts, daily volumes typically fluctuate between 300 million and 700 million XRP. On quieter days, network activity can even drop close to zero. The latest jump follows directly after one such period of low network engagement.
It is worth noting that much of this 119.6% increase comes off a very low baseline, limiting its immediate impact as a long-term trend signal. Nevertheless, analysts point out that any uptick in genuine payment activity is a positive sign for the health of the network, as it reflects increased settlement and usage by participants. This stands in contrast to exchange trading volumes, which can be influenced by speculative activity.
Payment volume shows how much XRP is actually moving between accounts, so it is a cleaner signal than exchange trading alone. When this figure rises, more people are sending, settling, and using the network.
After several weeks of diminished activity, this resurgence in payments marks a potential turning point for user engagement, provided it can be sustained over the coming days.
Mini dictionary: XRP Ledger – a decentralized, public blockchain designed for payments, allowing users to send value quickly and at low cost. The ledger validates and tracks transactions using the XRP token as its native asset.
Price remains below major resistanceDespite the uptick in network usage, XRP’s market price has not shown a corresponding rally. The digital asset is now trading close to $1.31, remaining below key technical levels. The 200-day moving average sits near $1.37, while the 100-day average is close to $1.34, both now acting as resistance zones. Earlier attempts to push above these areas were met with selling pressure, and the price has retreated toward a range of $1.27 to $1.30.
Technical momentum remains weak, with the Relative Strength Index (RSI) hovering around 40. While not yet in oversold territory, this reading points to limited buying enthusiasm.
IndicatorCurrent ValueSupport/ResistanceCurrent Price$1.31—200-day Moving Average$1.37Resistance100-day Moving Average$1.34ResistanceNearest Support$1.25SupportNext Key Support$1.15SupportRSI40Neutral/WeakShould the price break below $1.25, analysts point to $1.15—where the August rally previously began—as the next important support zone. On the contrary, a daily close above $1.37 would open the door for further gains, with upside targets at $1.45 and $1.55.
Traders wait for confirmationTrading volume for XRP on exchanges has declined, signaling a cautious stance among market participants. Many investors appear to be waiting for confirmation that the surge in payment activity is translating to sustainable buying interest and higher prices.
A real recovery needs both better network use and stronger buying on the exchanges. So far, only the first part has appeared.
Market observers highlight that such divergence between technical adoption and price action is not uncommon, especially when the financial market is searching for direction. If payment volumes remain steadily above the 30-day average of 601.9 million XRP in the coming days, the chances of a price breakout above $1.37 could increase. However, if this latest spike proves short-lived, XRP is expected to remain within its current trading range.
XRP ETF od společnosti Franklin Templeton zaznamenal během čtvrteční obchodní seance čisté přílivy ve výši 3,55 milionu USD, což odpovídá 2,71 milionu XRP; ostatní XRP ETF nevykázaly žádné toky.
Although the demand for XRP ETFs has slowed substantially in recent days following the recent crypto market volatility, they have remained persistent even in small quantities.
Amid the slow but steady demand for the XRP investment product, the latest onchain data shows that Franklin Templeton has just bought XRP, even as its price remains unstable.
$3.5 million of XRP scoopedAs of October 23, data from SosoValue shows that Franklin Templeton's XRP ETF has recorded up to $3.55 million in net inflows during its last daily trading session on Thursday.
HOT Stories
With the Franklin XRP ETF attracting up to 2.71 million XRP worth about $3.55 million in net inflows at a time like this, the fund has taken dominance for the day as other XRP ETFs saw zero capital flows for the day.
You Might Also Like
Notably, the inflow recorded by the fund provides a bullish outlook for XRP as it signals sustained demand from investors seeking exposure to the asset without directly holding it.
However, XRP's price movement at the time of the purchase remains concerning to market participants as the broad market momentum continues to fade.
Can This Trigger an XRP Rally?It is important to note that while Franklin Templeton's latest XRP purchase provides a positive signal for demand for its XRP investment product, it does not guarantee an immediate price recovery for the asset.
XRP's current price movement remains subject to broader market sentiment, which is currently bearish as other major crypto assets are also witnessing a price correction.
Nonetheless, market analysts predict that sustained demand for the XRP ETF could drive bullish momentum for the price.
Malajsie a Thajsko se připojily k singapurské iniciativě BLOOM, která testuje přeshraniční platby s využitím regulovaných stablecoinů a tokenizovaných bankovních depozit.
Malaysia and Thailand join Singapore’s BLOOM initiative as policymaker members.
The initiative focuses on cross-border payments using stablecoins and tokenized bank deposits.
Ripple, Visa, Mastercard and the World Bank Group are among the participating organizations.
Ripple and Unloq plan to test automated trade payments using RLUSD on the XRP Ledger.
Central banks will examine payment settlement, network compatibility, identity checks and regulatory controls.
Singapore has expanded its BLOOM payments initiative as Malaysia and Thailand join efforts to test cross-border transfers. The work covers regulated stablecoins and tokenized bank deposits.
Singapore Adds Two Central Banks to BLOOM
The Monetary Authority of Singapore confirmed the membership of Bank Negara Malaysia and the Bank of Thailand on Friday. Both joined as policymaker members rather than commercial payment providers.
BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. Singapore started the project in October 2025 to bring regulators, banks and technology firms together around digital money settlement.
Ripple and Payment Networks Join the Work
Current participants include Ripple, Visa, Mastercard, Airwallex, Maybank and the World Bank Group. Circle, Coinbase, JPMorgan, Standard Chartered and Stripe were already involved in the initiative.
Ripple announced a trial with trade finance company Unloq in March. The partners plan to use RLUSD on the XRP Ledger and release payments when shipment conditions are met. Separately, Cross River Bank is adding Ripple’s RLUSD to its payment system.
The World Bank Group brings experience in international payment systems and financial inclusion. BLOOM participants are examining business payments, company cash management and trade finance.
Banks Examine Settlement and Safety Checks
The central banks will examine how institutions accept and exchange different digital currencies across countries. They will study ways for payment systems to communicate without requiring separate deals in every market.
Tokenized deposits form another part of the work. These tokens represent bank deposits rather than stablecoins issued by private companies. In a separate development, JPMorgan made its JPM Coin deposit token available on Ethereum this week for approved institutional clients.
BLOOM will examine identity checks, sanctions screening and transaction limits. MAS said common operating arrangements could reduce implementation costs while allowing regulators to apply their own national requirements.
Malaysia and Thailand Outline Their Priorities
Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz said payments using different forms of digital money were becoming more practical. He welcomed cooperation between central banks and companies.
Rules remain a separate issue for stablecoin providers. This week, the US banking regulator outlined waiver requirements for existing stablecoin issuers, showing how oversight differs between markets. Bank of Thailand Deputy Governor Daranee Saeju said Singapore’s initiative would support its work on rules for tokenized money.
Evernorth CEO Asheesh Birla says the company’s Nasdaq debut marks a major milestone for XRP (CRYPTO: XRP).
The company plans to deploy its 473 million XRP holdings gradually into institutional lending and DeFi opportunities prioritizing security, liquidity and sustainable returns.
Speaking on the Thinking Crypto podcast, Birla outlined Evernorth’s plan to become more than a passive crypto treasury company.
Unlike Bitcoin treasury firms such as Strategy (NASDAQ:MSTR), Evernorth plans to generate risk-adjusted yields from its XRP holdings through TradFi strategies and emerging on-chain protocols.
"With Bitcoin (CRYPTO: BTC), you can move, you can hold, but you can’t really do much on-chain," Birla said.
He pointed out Evernorth’s primary performance metric is to maximize XRP per share, although he declined to disclose future acquisition plans.
Evernorth is trading under Armada Acquisition Corp II (NASDAQ:XRPN).
XRP Lending, DeFi Could Drive Institutional DemandBirla expects XRP Ledger lending, vaults and DeFi applications to attract institutional capital and expand XRP liquidity.
Evernorth is evaluating on-chain partners, while growing tokenization could boost demand for blockchain-based lending and settlement.
However, Birla emphasized risk management before deploying treasury assets.
“We’re going to take it slow and build methodically,” he said.
Why XRP’s Nasdaq Debut Is a Turning PointBirla described Evernorth’s public listing as validation of XRP’s original focus on financial services, saying its institutional use cases are now materializing on Nasdaq.
He cited growing participation from BlackRock (NYSE:BLK), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) as evidence of traditional finance embracing blockchain.
Birla expects tokenization and 24/7 markets to expand access to financial assets.
Evernorth looks to focus on deploying its XRP treasury and developing institutional-grade infrastructure on the XRP Ledger.
Image: Shutterstock
Read Next
Market News and Data brought to you by Benzinga APIs
Americký investiční poradce SRH, který spravuje aktiva v hodnotě 3 mld. USD, vykázal držbu 27 301 akcií ETF Franklin XRP (XRPZ) v hodnotě přibližně 441 000 USD.
SRH, a US-based investment adviser with $3 billion in AUM, has reported holding 27,301 shares of Franklin Templeton’s Franklin XRP ETF (XRPZ).
The firm disclosed the XRP ETF investment, worth about $441K, in a quarterly Form 13F filing with the US Securities and Exchange Commission (SEC).
Notably, institutional investment managers with more than $100 million in assets under management must file these reports every quarter to disclose their long positions in US equities.
SRH’s investment adds to the expanding number of US financial firms gaining exposure to XRP through regulated exchange-traded products. However, Form 13F filings only show an institution’s holdings at the end of a quarter, so SRH’s current position may be different from the amount it reported.
US wealth manager SRH reveals investment in Franklin XRP ETF The Franklin XRP ETF Franklin Templeton launched the Franklin XRP ETF on NYSE Arca in November 2024. Trading under the ticker XRPZ, the fund operates as a passively managed grantor trust that holds XRP directly and tracks the CME CF XRP-Dollar Reference Rate.
Importantly, it charges a net expense ratio of 0.19%, which makes it one of the lower-cost regulated XRP investment products available to US investors. Over the past 52 weeks, the fund’s share price has ranged from $10.77 to $26.09.
On Oct. 22, XRPZ recorded $3.5464 million in net inflows in a single day, bringing its cumulative net inflows since launch to $519 million.
Across all spot XRP ETFs, total net assets stood at $1.488 billion, while cumulative net inflows reached $1.804 billion. During the third quarter of 2026, XRPZ attracted $90.64 million in net inflows.
Wall Street’s Expanding XRP ETF Footprint SRH’s disclosure follows a series of institutional filings showing that more traditional financial firms are investing in XRP ETFs.
Goldman Sachs reported $86.5 million in XRP ETF holdings as of June 30, 2026, in its SEC Form 13F filing. The investment covered five spot XRP ETFs, including approximately $25.76 million in the Bitwise XRP ETF and $25.41 million in Franklin Templeton’s XRPZ.
Bloomberg Intelligence’s review of second-quarter 2026 filings ranked Goldman Sachs as the largest institutional holder of spot XRP ETFs, ahead of Jane Street Group and Millennium Management.
Morgan Stanley also reported holdings across several XRP investment products in its latest Form 13F filing. The firm held 6,715 shares of Franklin’s XRP ETF, 255 shares of the REX-Osprey XRP ETF, and 67 shares of the Bitwise XRP ETF.
AdvisorNet Financial disclosed 12,380 shares of Franklin’s XRP ETF, worth approximately $177,800, in its third-quarter 2026 filing.
Meanwhile, UMB Private Wealth Management reported an XRPZ position valued at $100,316 as of Sept. 30, 2026. In addition, Vista Finance disclosed 129,958 shares of the Franklin XRP Trust ETF worth approximately $11.45 million.
XRP ETF Market Performance Spot XRP ETFs have continued to perform impressively this year. The products attracted $307.87 million in net inflows during the third quarter of 2026. July accounted for $27.29 million, August brought in $159.18 million, and September added $121.40 million.
Over the same period, XRP’s price rose by more than 45%, climbing from $1.04 to $1.51. The Bitwise XRP ETF led the market with $177.94 million in third-quarter inflows, bringing its total assets to $618.81 million.
However, the market saw some withdrawals in October. During the week ending Oct. 16, 2026, US spot XRP ETFs recorded approximately $1.84 million in net outflows, ending a 13-week streak of consecutive inflows.
Despite this setback, cumulative net inflows approached $1.8 billion, while ETF assets remained around $1.47 billion. On October 22, XRPZ helped restore positive momentum by accounting for the entire $3.5464 million in daily inflows.
Ethereum za poslední měsíc kleslo o 13 %; při prolomení podpory na úrovni 2 300 USD hrozí pokles k 2 000 USD. Likvidace ETH dosáhly 75,4 milionu USD, z toho 63,7 milionu USD připadalo na dlouhé pozice.
Ethereum faces renewed selling pressure after a failed recovery attempt, increasing the possibility that ETH may test the $2,000 level before finding a durable market bottom. The cryptocurrency traded near $2,390 on October 23, retreating sharply after briefly touching $2,500. Over the past month, Ethereum has declined about 13%, with buyers repeatedly intervening to support the $2,300 region.
Heavy Liquidations and Technical BarriersRecent market turbulence triggered around $75.4 million in total ETH liquidations, according to CoinGlass data cited by Invezz. Notably, $63.7 million stemmed from leveraged long positions, highlighting the vulnerabilities present when traders expect rising prices using borrowed funds.
At the start of October, Ethereum traded above $2,700, but momentum soon faded. Repeated rebound attempts failed to sustain higher prices, drawing ETH back toward $2,400. This latest decline follows an earlier October selloff, as rising US Treasury yields and a strengthening dollar weighed on cryptocurrency valuations.
Ethereum currently trades below its key short-term moving averages. The $2,480 to $2,550 zone has consistently served as a ceiling, preventing any robust recovery. Analysts suggest that a decisive breakout above this level is needed to generate sustained positive momentum and revive prospects for a move toward $2,700 or $2,800.
ETH’s technical outlook remains fragile, with buyers under pressure and liquidations intensifying following recent failed rebounds.
Earlier analysis of ETH derivatives revealed that concentrated bullish positions can aggravate downside moves when key support levels break. This dynamic continues to pose a risk, as leveraged traders could trigger forced selling that accelerates any decline rather than containing it.
Staking Trends and Network DevelopmentsDespite price weakness, Ethereum’s network has seen increased staking activity. Bitwise, a crypto asset manager known for its industry research and investment products, recently reported record levels of institutional staking, even as yields decrease. This trend indicates that long-term holders are still participating actively on the network, even as price volatility persists.
Staking generally reduces the liquid supply of ETH available on exchanges. However, analysts caution that diminished supply does not guarantee higher prices, as demand must still counteract selling by existing holders, derivatives traders, and other market participants.
Coinpaper previously highlighted how a $2 billion exit queue raised concerns over potential selling pressure. However, not all withdrawals are destined for exchanges, and large exit queues do not necessarily signal imminent sell-offs.
Ethereum’s upcoming Glamsterdam upgrade introduces further improvements aimed at increasing network efficiency. This technical update could enhance scalability, though such developments do not necessarily drive immediate demand for ETH.
Mini dictionary: Glamsterdam upgrade, a planned Ethereum network enhancement focused on improving transaction efficiency and scalability, forming part of the ongoing roadmap for Ethereum’s technical evolution.
Key Price Levels and OutlookLooking ahead, the $2,300 to $2,350 support band represents the immediate downside area to monitor. Buyers recently protected levels such as $2,313 and $2,325 in mid-October, emphasizing the significance of holding above this region.
Should the price fall below $2,300, technical reference points emerge at $2,200 and $2,025. Breaching these levels could bring the $2,000 mark into view as a realistic bearish target, rather than a distant possibility.
Price LevelSignificance$2,700+Pre-October high, bullish target if recovery holds$2,480–$2,550Major resistance, must be broken for upside momentum$2,300–$2,350Key support, tested in October$2,200 / $2,025Technical support levels below current market price$2,000Plausible bearish target on further breakdownAlternatively, if Ethereum can reclaim the $2,500–$2,550 region, a deeper recovery toward $2,700 or $2,800 could take shape. Previous attempts to break out above resistance were short-lived, suggesting sustained buying is needed for a lasting reversal.
Institutional sentiment about Ethereum remains mixed, with bank analysts like Citi previously noting a $3,028 price target over a 12-month horizon, but emphasizing this is not an immediate goal.
Cardano showed a modest recovery on Friday, with ADA rising almost 2% to trade near $0.2156 after suffering a 6% decline in the prior session. Despite this limited rebound, ADA remains below its key moving averages and the previous rising support trendline, highlighting persistent technical pressures on the cryptocurrency.
Large investors show mixed positioningData from on-chain analytics platform Santiment revealed that wallets holding between 10 million and 100 million ADA controlled 37.93% of the circulating supply on Friday, a decrease from 38.27% reported on October 10. This reduction suggests that some sizable investors trimmed their ADA holdings in recent days, although reclassification of wallet categories could have contributed to these shifts.
Meanwhile, the largest investors—wallets with more than 100 million ADA—took the opposite approach. Their share of the ADA supply increased from 15.92% to 16.04% over the same period, indicating selective accumulation among top holders even as other whales reduced exposure.
The divergence in holdings reveals an uneven approach among large investors, rather than blanket selling across the board.
Holder GroupOctober 10October 1810M – 100M ADA38.27%37.93%>100M ADA15.92%16.04%Santiment is a blockchain analytics provider that tracks on-chain metrics, including investor behavior, whale activity, and token distribution.
Mini dictionary: Santiment is an on-chain data analytics platform that monitors cryptocurrency wallet distributions, investor activity, and other blockchain metrics to help investors assess market sentiment and asset flows.
The share of ADA supply in profit also slid notably, dropping from 30.78% to 17.8%. This shift means significantly fewer Cardano tokens now trade above their acquisition cost, reflecting both price declines and potential unrealized losses.
Mixed whale activity and falling supply in profit show that Cardano’s rebound is accompanied by pressure from large holders and weak sentiment among investors.
Derivatives market reflects reduced risk appetiteDerivatives data from CoinGlass indicated that open interest in ADA futures declined 3.3% to $467.97 million over the past 24 hours. Falling open interest alongside the recent price drop is typically linked to traders closing positions and reducing leverage exposure.
Because open interest is denominated in dollars, declines can also result from lower ADA prices. Liquidations over the same period totaled about $1.08 million, with $1.02 million coming from long positions—a sign that bullish traders bore the brunt of forced closures as prices fell.
Despite these liquidations, the funding rate in ADA perpetual futures remains positive at 0.0038%, highlighting that traders are still paying a premium to maintain long positions. This suggests ongoing bullish positioning, although signals appear divided across investor categories.
Technical levels cap Cardano’s recoveryOn the technical front, ADA continues to trade below significant resistance zones. The daily chart shows Cardano below the 50-day Exponential Moving Average at $0.2274 and the recently broken rising trendline near $0.2282. The 200-day EMA at $0.2322 presents an additional resistance barrier further overhead.
The Relative Strength Index, currently near 41, reflects subdued momentum, as values below 50 typically indicate weakness. The MACD has drifted further into negative territory, supporting a cautious short-term outlook for ADA.
On the downside, immediate support centers on the $0.20 mark, a key psychological and technical level. If sellers push ADA below this threshold, the price could test the August 30 low around $0.1894.
Unless ADA regains and closes above the $0.2322 region, the current move is likely a brief bounce within a broader corrective phase rather than a sustained reversal.
For any lasting recovery, analysts point to the need for ADA to reclaim the $0.2274–$0.2282 resistance zone, followed by a daily close above the 200-day EMA. Until then, Cardano is viewed as remaining in a corrective trend despite Friday’s modest advance.
TRON vydal povinnou aktualizaci GreatVoyage-v4.8.2.4 Empedocles pro provozovatele uzlů Java-tron, která optimalizuje ukládání chytrých kontraktů a má zabránit výpadkům při synchronizaci bloků.
TRON has shipped another mandatory upgrade for the people who keep its network running. GreatVoyage-v4.8.2.4, codenamed Empedocles, went public on October 23, 2026, and Java-tron node operators are expected to install it.
What Empedocles actually changes
The release focuses on two areas, according to the TRON DAO materials.
The first is consistency and stability in specific edge cases. These are the rare, oddly shaped situations that normal operation rarely hits. When they do appear, they can cause outsized problems.
The second is optimization of smart contract storage and metadata handling. This covers how the node software stores contract data and keeps track of information about those contracts.
The TRON materials describe these fixes as important for preventing disruptions to block synchronization. They frame that as an ongoing concern for the network’s performance.
The software lives in the tronprotocol/java-tron repository on GitHub. Releases come with signed binaries and GPG verification links. Those let operators confirm that the files they download are the files TRON actually published.
A quick follow-up to Anaxagoras
Empedocles arrives a little over three weeks after its predecessor. GreatVoyage-v4.8.2.3, codenamed Anaxagoras, was also a mandatory upgrade. It shipped on September 30, 2026.
Anaxagoras targeted a different set of performance issues. Its focus areas included storage access optimizations and BN128 pairing performance. It also improved JSON parsing.
Who needs to do something, and who doesn’t
The work falls almost entirely on node operators. Ordinary network users and TRX holders are not expected to take any action, according to the release materials.
Operators get a structured process. The java-tron Node Upgrade Guide walks through a safe deployment. For mandatory releases, the guide stresses that operators should follow its steps strictly.
Operators running a primary/backup high-availability setup have a separate path. A dedicated Primary/Backup Node Upgrade Guide covers that configuration. Its goal is a smooth handoff so service continues while one machine is updated.
What this means for the network
Mandatory upgrades are a stress test of coordination as much as code. The fix only works if enough operators actually deploy it. A network where a meaningful slice of nodes lags behind on software can run into exactly the kind of sync inconsistencies these releases aim to prevent.
For developers building on TRON, the smart contract storage and metadata work is the most relevant piece. Contracts that lean heavily on storage, or that involve complex metadata, stand to benefit most from these optimizations. Combined with the BN128 and storage access improvements in Anaxagoras, the direction is clear: TRON is investing in how efficiently its virtual machine handles real contract workloads.
For now, the instructions are simple. If you run a Java-tron node, verify the signed binaries and follow the upgrade guide. If you just hold TRX, carry on with your day.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Futu Securities zpřístupnila způsobilým profesionálním investorům v Hongkongu možnost vkladů a výběrů BNB prostřednictvím sítě BNB Smart Chain (BEP-20).
Futu Holdings subsidiary Futu Securities International (Hong Kong) Limited has announced the launch of BNB deposit and withdrawal services for eligible professional investors (PIs) in Hong Kong. Qualified PIs can now deposit BNB to their Futu crypto accounts from self-custody wallets, or withdraw to verified whitelisted addresses, via the BNB Smart Chain (BEP20) network. Earlier, Futu’s wholly-owned SFC (Securities and Futures Commission)-licensed virtual asset trading platform PantherTrade (Cheetah Trade) in Hong Kong had already listed BNB and offered BNB trading pairs to Hong Kong’s eligible professional investors.
Relevant content
Brent crude oil surged 3.00% intraday, now trading at $112.37 per barrel.
According to Bitget's market data, Brent crude oil surged 3.00% intraday, currently trading at $112.37 per barrel.
19 minutes ago
Initia Chain appears to have been hacked, with hackers having cashed out approximately $2.6 million.
Anonymous security analyst Spreek reported that the Initia blockchain was hacked, resulting in the infinite minting of a large volume of its tokens. So far, the hacker has cashed out approximately $2.6 million, with additional funds still being transferred.
19 minutes ago
Aave Pro launches its Earn feature, enabling APY-based comparison of asset yields and one-click deposits.
According to an official announcement, Aave Pro has launched its Earn feature to help users easily identify yield opportunities. Users can now compare different assets based on annual percentage yield (APY), select their desired V4 market, and complete deposits with a single click.
19 minutes ago
Ethereum Foundation postpones the Glamsterdam upgrade for the Hoodi testnet, with no new date confirmed yet.
The Ethereum Foundation has announced that the Glamsterdam upgrade, originally set to activate on the Hoodi testnet at 17:42:48 UTC on October 26, 2026, has been delayed, with a new activation date yet to be confirmed. Core developers decided to postpone the upgrade during the 248th Ethereum Consensus Layer Developer Meeting (ACDE #248) to further investigate interactions between EIP-8037 and Ethereum mainnet smart contracts. The delay cancels the original plans for the Amsterdam execution layer activation and Gloas consensus layer activation, and also revokes the prior plan to raise the Hoodi testnet’s gas limit to 200 million in the same cycle. The Ethereum Foundation stressed that this adjustment only rolls back configurations for future upgrades and will not revert historical on-chain data on the Hoodi testnet. The upgrade originally scheduled for October 26 is no longer on the agenda; the new activation cycle and specific timing will be announced at a later date.
19 minutes ago
Bankless Co-founder: Bitcoin 'Clone Coins' Heat Up Again, PRL and QTC Surge Simultaneously
Bankless co-founder David Hoffman wrote in a post that a batch of tokens he dubs "2017-era Bitcoin clones" has recently drawn renewed market interest. Among them, PRL rose 30% this week, hitting a fully diluted valuation (FDV) of $4.2 billion. QTC jumped 300% this month, and with a total supply of 21 million tokens, its valuation reached $1.8 billion. Notably, tokens with a fixed supply of 21 million are commanding multi-billion-dollar valuations, a trend that warrants attention.
19 minutes ago
ether.fi acquires crypto wallet Zeal Wallet
According to official announcements, ether.fi has announced the acquisition of Zeal Wallet. Zeal users can now migrate directly to ether.fi within the Zeal app, completing the migration process without leaving the application.
Ascend a M1X Global uskutečnily na síti Stellar první institucionální repo obchod, při němž byl tokenizovaný státní dluhopis USDM1 použit jako kolaterál. Obchod zahrnoval 72 automatických hodinových obnov během tří dnů.
Ascend and M1X Global completed the first institutional repo on Stellar (XLM), using tokenized sovereign bond USDM1 and 72 automated hourly rolls over three days.
@AscendFi Markets and @M1XGlobal have completed the first institutional repurchase agreement (repo) on the @StellarOrg blockchain, using a tokenized sovereign bond as collateral. The trade ran with no manual intervention across a three-day window that included overnight and weekend hours.
Because the rolls were automated, financing continued outside normal market hours, a feature of 24/7 on-chain markets that traditional repo desks do not offer.
Terms of the trade and the collateralThe collateral was $USDM1.
The structure differs from many tokenized Treasury products.
Why it matters for StellarThe deal extends Stellar beyond its established payments focus.
Ascend has also received backing from the network's main steward. The Stellar Development Foundation made a strategic investment in the firm, which
The test was a single transaction, and the companies have not disclosed its size in the release. Whether tokenized sovereign collateral gains wider acceptance among lenders will depend on further repeat trades and broader institutional uptake.
Sources:
Business Wire: Ascend and M1X Global complete first institutional repo on StellarThe Block: Paradigm leads $5.5 million seed round in M1X GlobalStellar: SDF strategic investment in Ascend
Velryba prostřednictvím CoWSwap nakoupila více než 80 000 LINK za 1,02 milionu USD, zatímco spotové i futures CVD nadále ukazují převahu prodejních tržních objednávek.
A whale bought more than 80,000 LINK worth $1.02 million through CoWSwap.
Chainlink’s Whale vs Retail Delta climbed to 0.594 on October 22, up from near 0.10.
Spot and futures Taker CVD readings on CryptoQuant remain seller-dominant.
LINK pulled back from $14.218 resistance and is holding the $12 support.
A break above $14.218 could open a path toward the $18 zone.
Chainlink (LINK) drew fresh interest from large investors this week. A whale bought more than 80,000 LINK worth about $1.02 million, according to on-chain data shared on X.
$LINK — Chainlink
ㅤ
Everyone is watching $BTC, $ETH, and $SOL.
ㅤ
But what about the infrastructure connecting blockchains to the global financial system?
ㅤ$LINK is betting that the future of finance will depend on secure data, interoperability, and tokenized assets.… pic.twitter.com/m2Yv9I61U8
— Jus7Degen (@Jus7Degen) October 23, 2026
The post showed the wallet made the purchase through CoWSwap. It also showed the wallet’s total crypto portfolio was close to $3 million, including stablecoin holdings.
The buy came during a period of wider market uncertainty. It has raised questions about whether large holders expect stronger LINK performance in the fourth quarter.
Whales Return as Sellers Hold Ground
The single purchase was not the only sign of whale activity. Chainlink’s Whale vs Retail Delta indicator climbed to 0.594 on October 22, according to CoinGlass.
That reading followed an earlier drop toward the 0.10 level. The rise shows whales are now more active relative to retail traders.
The metric has stayed mostly positive through much of 2026. Its latest increase brought whale participation closer to levels seen during past accumulation phases.
However, trading data from CryptoQuant shows sellers remain in control. The Spot Taker CVD is still seller-dominant, meaning market sell orders outweigh aggressive buying.
The Futures Taker CVD shows the same pattern. Traders using leverage have not yet built steady buying demand.
This leaves a gap between whale buying and the wider market. So far, large purchases have not reversed the selling pressure.
Chainlink’s recovery may depend on whether other market players follow the whales. For now, that shift has not appeared in the data.
LINK Holds $12 Support After Rejection
LINK’s weekly recovery from the $8 support area stalled at $14.218. The rejection pulled price back toward $12, where buyers stepped in.
Chainlink Price on CoinGecko
Holding that level kept LINK above its recent recovery base. The $12 area is now the key support on the weekly chart.
On the weekly TradingView chart, the MACD is still leaning bullish. The MACD line sits at 0.800 above the signal line at 0.433, but the histogram has cooled to 0.367, so momentum is fading, not flipping. RSI is at 54.79, just under its 55.43 average but still above neutral.
Simple setup here: $12 is the floor, $14.218 is the ceiling. What to watch next is a clean weekly close above $14.218, which would put the $18 zone back on the table, where sellers stepped in before.
As of October 22, LINK continued to hold above $12. The Whale vs Retail Delta stood at 0.594, while both spot and futures CVD readings still favored sellers.
Tria integrovala blockchain Arc společnosti Circle, takže uživatelé mohou v aplikaci převádět USDC mezi sítěmi, dobíjet kartu a financovat obchodní účty.
New integration enables users to move USDC across networks, fund Tria cards and access trading accounts without separate bridging steps.
Tria, the self-custodial finance platform unifying trading, payments and digital asset management, today announced the integration of Arc, Circle’s newly launched Layer 1 blockchain, bringing new spending, trading and cross-chain capabilities to USDC holders.
The integration allows Tria users to send and receive USDC on Arc, convert funds between supported blockchain networks, top up their Tria cards and fund trading accounts directly within the platform. Users can move from holding digital dollars to spending or trading them without navigating separate applications or arranging manual bridge transfers.
Launched on September 16, Arc is Circle’s blockchain infrastructure designed for stablecoin payments, financial markets and real-time settlement. Its integration with Tria extends those capabilities into everyday financial activity, connecting USDC on Arc to practical uses across payments, trading and personal finance.
“Stablecoins become much more powerful when people can actually use them across every part of their financial lives,” said Vijit Katta, CEO of Tria. “Arc is building infrastructure for the next generation of digital money, and Tria is making that infrastructure accessible. Users can now take USDC from Arc straight into their card balance or trading account, or move it across supported networks, without leaving Tria.”
The integration introduces four core capabilities:
USDC transfers: Send, receive and hold USDC on Arc through Tria’s self-custodial wallet.
Cross-chain conversions: Move funds between Arc and other supported networks directly within Tria.
Card funding: Use USDC on Arc to top up a Tria card for everyday purchases.
Trading access: Fund supported trading accounts using USDC on Arc, without arranging a separate bridge transfer.
The integration is available across Tria’s web and mobile platforms. Users can select Arc in their Tria wallet to receive USDC, initiate conversions or fund their card and trading balances. Available routes, processing times and fees vary by transaction.
The launch advances Tria’s broader effort to make digital assets usable across financial applications, allowing users to manage, move, spend and trade their funds through a single self-custodial experience.
To access Arc on Tria, visit app.tria.so.
About Tria
Tria is a leading self-custodial finance platform serving more than 600,000 users, bringing digital asset trading, yield opportunities, payments and everyday spending into one application. Through its integrated wallet, trading infrastructure and payment card, Tria enables users to manage and use digital assets across supported blockchain networks without surrendering control of their funds.
Users can start using Tria: https://link.tria.so/4i5Tmab
Learn more about Tria: https://link.tria.so/4hZbgeK
Injective ($INJ) has grown its native $USDC supply by 43% in 30 days to $16.5M, as it positions itself as the canonical dollar standard for Cosmos and 20+ chains.
@Injective has expanded its native $USDC supply by 43% over the past 30 days, lifting the total on-chain dollar supply on the network to $16.5M. The financial Layer-1 blockchain is positioning itself as the canonical dollar standard across more than 20 chains, including @Cosmos.
The increase comes ahead of a liquidity rotation in which protocols are expected to allocate more than $100M in bridged and native stablecoins to $INJ.
How Injective Became a Dollar HubThe growth follows a series of integrations over the past several months. , giving the chain direct access to the largest regulated stablecoin without wrapped assets. That design avoids reliance on third-party bridges.
Native USDC later went live on mainnet. That figure refers to the broader USDC ecosystem, not the amount currently held on Injective.
The Cosmos link followed in May.
Why Cosmos Liquidity Is ShiftingThe move addresses a long-standing issue in Cosmos.
For $INJ, the potential benefit is indirect. That outcome is not assured, and the current $16.5M supply remains small next to the wider stablecoin market.
Investors will be watching whether the planned stablecoin allocations materialise and whether more Cosmos chains complete the move to Injective USDC.
Sources:
Injective: USDC adopted by Cosmos and dYdX as canonical stablecoin standardBlockchain.News: Circle brings native USDC to Injective with CCTPCrypto Economy: Injective's USDC becomes the stablecoin standard for Cosmos and dYdX
Zcash (ZEC) letos posílil zhruba o 3 000 %, zatímco bratři Winklevossovi a Barry Silbert soupeří o těžební infrastrukturu a ETF navázané na tento kryptoměnový projekt.
PANews, Oct. 23 — According to Bloomberg, privacy-focused cryptocurrency Zcash (ZEC) has gained roughly 3,000% year to date, drawing increased positioning from early Bitcoin investor and Gemini co-founder the Winklevoss twins and Digital Currency Group (DCG) founder Barry Silbert, with the two sides now competing over Zcash mining infrastructure and investment products.
On the investment product side, DCG's Grayscale launched the first U.S. Zcash ETF in August, providing a channel for institutional capital to enter the asset. The Winklevoss twins filed for their own Zcash ETF this month, further intensifying the competition.
Cypherpunk Technologies, backed by the Winklevoss twins, and Fortitude Mining, backed by Silbert, have become major mining companies on the Zcash network, and plan to invest tens of millions of dollars to expand hashrate in pursuit of more mining rewards. Cypherpunk currently holds about 20% of the network's total hashrate; Fortitude said that once its newly added hashrate is deployed, its share will reach 20%. However, Zcash mining is essentially a competition for hashrate over a fixed issuance, so increasing a mining company's hashrate mainly affects its probability of earning mining rewards and does not mean the token's price is bound to rise.
Denní medián počtu aktivních adres v síti Internet Computer vzrostl za dva měsíce o 35 % na 3 860, zatímco počet nových adres se zvýšil o 45 % na 710. Aktivita však zůstává zhruba poloviční ve srovnání s listopadem 2025.
Santiment data shows Internet Computer ($ICP) median daily active addresses up 35% and new addresses up 45%, but activity is still about half its November 2025 level.
Internet Computer (@dfinity) $ICP is facing criticism over adoption, but its on-chain activity is recovering. Data from analytics firm Santiment shows a clear pickup in network usage over the past two months, though activity remains well below last year's levels.
Active and new addresses climbMedian daily active addresses on Internet Computer rose 35%, according to Santiment. The daily median climbed from 2,838 between July 24 and August 22 to 3,860 between September 22 and October 21.
New addresses rose faster. Over the same periods, the figure increased 45%, from 481 to 710.
Santiment defines daily active addresses as the number of distinct addresses that took part in a transfer for a given asset on a given day. Each address is counted once per day, and both senders and receivers are included. The metric measures network participation but does not show how much value is moving, or whether activity comes from organic users.
The gap to November 2025 remainsThe recovery comes with a caveat. The latest weekly readings remain roughly half the 9,500-address average recorded in early November 2025. That leaves the network well short of its recent peak, even after the improvement.
The user growth has also not been matched by price. COINOTAG reported that ICP lost 8.29% over the past month while new daily addresses rose 45% to 710, and that traders are watching the $2.50 to $2.85 range for the next decisive move. That divergence between usage and token performance is now a central question for holders, the outlet said.
For investors, the data points to early signs of stabilising demand for the network rather than a full rebound. Whether the increase in addresses can be sustained, and whether it translates into deeper usage, will determine if $ICP can close the gap with its late 2025 activity levels.
Sources:
COINOTAG: ICP new addresses up 45% as price slides, Santiment showsSantiment Academy: Daily Active Addresses metric definition
Memecoin KIMCHI na síti Solana po smazání propagačního příspěvku ztratil více než 95 % své tržní kapitalizace poté, co krátce dosáhla přibližně 14 milionů USD. Lookonchain odhalil více než 385 000 USD na podezřelých ziscích z obchodování.
A Solana-based KIMCHI memecoin has plunged more than 95% after a promotional post linked to crypto trader Kimchi’s X account disappeared, triggering allegations of suspicious trading and questions about Pump.fun co-founder Alon’s involvement in promoting the token.
Summary
A KIMCHI token promoted through a QR code linked to trader Kimchi’s X account crashed after the post disappeared.
Lookonchain reported that the token briefly reached a $14 million market capitalization before falling more than 95%.
Blockchain analysts flagged profitable early trading, while allegations of hacking and deliberate fraud remain unconfirmed.
Pump.fun’s daily revenue and active addresses declined during the same period, without evidence establishing a direct connection.
According to blockchain analytics firm Lookonchain, Kimchi’s account promoted a newly launched token after reportedly receiving 500 million KIMCHI tokens, while Alon reposted the announcement. Both posts subsequently disappeared, and the token’s market capitalization collapsed after briefly reaching approximately $14 million.
The controversy began when an AI-generated promotional image appeared on Kimchi’s X account, featuring a QR code directing users to a newly created token on Pump.fun. Traders quickly bought the token, while Alon’s repost drew further attention to the promotion.
Within minutes, KIMCHI reportedly climbed past a $10 million market capitalization before reaching roughly $14 million. Its subsequent decline exceeded 95%, with some market observations placing the drop closer to 99% after the promotional post disappeared.
Kimchi token crashe, source: Lookonchain/X
Market capitalization measures the estimated value of a token’s supply at the prevailing price. The reported $14 million peak therefore does not establish that investors collectively lost $14 million or that an equivalent amount of money entered the market.
Crypto trader Arez questioned the sequence, alleging that the QR code’s destination changed after the token attracted substantial trading. The trader said Alon subsequently withdrew his repost, while some buyers were left holding tokens purchased near the peak.
The incident followed recent attention surrounding Kimchi’s relationship with Pump.fun.
Lookonchain identifies over $385K in suspected trading profits
Lookonchain’s investigation identified several wallets that reportedly accumulated KIMCHI at relatively low prices before selling during the rally. The analytics firm estimated that the transactions generated more than $385,000 in combined profits.
Investigators identified three Solana addresses for examining the associated transfers. The wallet activity described by Lookonchain raises questions about trading patterns, but blockchain transfers alone do not establish who controlled the addresses or whether the traders had advance knowledge of the promotion.
A separate Bitquery investigation documented activity involving another KIMCHI launch around October 20. Its researchers identified three linked wallets that bought a newly issued token and quickly sold their holdings, generating approximately $104,000 in gains.
Bitquery explicitly stated that it could not connect those wallets to the deployer through direct transfers. Its findings concern a separately identified token and transaction sequence, so the reported profits should not be combined with Lookonchain’s estimate without matching the contracts and timestamps.
Traders demand answers over deleted KIMCHI promotion
Following the collapse, some traders accused the accounts involved of promoting an unsafe token. An X user known as tontheneko demanded refunds, arguing that Alon should have verified the promotion before sharing it with his followers.
Hello @a1lon9, I hope you immediately refund anyone who lost money on this coin.
You literally retweeted a rug pull and made hundreds of people lose money.
It was your responsibility as @Pumpfun founder to double check and confirm what you are posting with kimchi before… pic.twitter.com/3QNtkWSYA8
— ton (@tontheneko) October 22, 2026
Those accusations remain allegations, not established findings of fraud or misconduct. Neither the promotional repost nor subsequent deletion independently proves that Alon or Kimchi coordinated the trading or benefited financially from the token’s price movements.
A suspected account hack has been suggested as another explanation, although the available statements do not confirm unauthorized access. No verified refund arrangement or official finding assigning responsibility was identified.
The episode follows scrutiny of Pump.fun token survival rates, with an October Bitquery study finding that 79% of launches in its sample recorded no trading after their first day. That study covered a larger token sample and did not examine the latest KIMCHI promotion specifically.
Pump.fun revenue falls as activity declines
Meanwhile, Lookonchain highlighted a decline in activity on Pump.fun after Kimchi reportedly removed the platform’s name from his X biography. The researcher compared daily revenue of $1.61 million with $1.35 million two days later, representing a decline of approximately 16%.
Active addresses fell from 178,539 to 159,492 over the same comparison, a drop of roughly 11%. However, the timing does not demonstrate that the KIMCHI controversy caused either decline.
The DefiLlama protocol dashboard separately showed approximately $1.35 million in daily revenue and 159,492 active addresses. Its methodology distinguishes platform revenue from total fees paid by traders.
Recently, Pump.fun introduced perpetual futures trading through Hyperliquid, expanding its services beyond memecoin launches. Subsequently, the platform launched Pump Bridge to support cross-chain transactions, with its published performance figures based on testing conducted between September 28 and October 7.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Crypto asset management company Bitwise stated in its latest research that Solana stands out.
Accordingly, 72.8% of all SOL staked on the Solana network is concentrated among validators located in Europe.
Europe Leads in Solana Stake Distribution!
According to Bitwise’s Staking Report, the majority of SOL staked on the Solana network is concentrated in Europe. Europe ranks first with a 72.8% share, followed by North America with 16.2%, Asia with 10.6%, and South America with 0.4%.
The concentration in Europe is particularly evident in the region between Amsterdam, Frankfurt, and London. This distribution presents a remarkable picture in terms of geographical centralization and connection delays in the Solana network infrastructure.
According to the Bitwise report, the reduction in slot times has exacerbated regional disparities. This is because Solana gradually reduced slot times from 400 milliseconds to 250 milliseconds between August and September 2026 in an effort to increase network processing speed and reduce finalization times.
According to Bitwise, this change has contributed to faster transaction finalization while also reducing the time validators have to receive blocks, verify them, and submit votes.
The concentration of staking in Solana within Europe raises questions about the impact of MiCA regulations on staking services. However, the mere presence of a validator in Europe does not automatically necessitate licensing. According to ESMA, companies offering staking and custody services must comply with the relevant MiCA regulations, but neither Bitwise nor the Solana Foundation have provided an assessment of the direct regulatory implications of this concentration in Europe.
*This is not investment advice.
Follow our Telegram and X account now for exclusive news, analytics and on-chain data!
With the launch of Gateway support for EURC on Solana, Circle has deployed a new pre-mint address to enable Gateway to programmatically mint EURC on Solana. The new address is: A6sLLUWebvoUUnQoCiB45ktetd34iamfD8kwTsBSReAb
The full list of pre-mint addresses is contained within our GitHub repo. For exchanges, websites, and developers that monitor EURC flows on Solana, you can continue to use our public API as normal — no changes are required.
NOTE: DO NOT ATTEMPT TO SEND EURC TO A PRE-MINT ADDRESS AS IT WILL RESULT IN A LOSS OF FUNDS. PRE-MINT ADDRESSES ARE ONLY INTENDED FOR USE BY CIRCLE.
EURC on Solana: Pre-minting detailsOn some non-EVM blockchains like Solana, Circle pre-mints tokens like EURC to create and hold a balance before it goes into circulation. This is made possible by the aforementioned pre-mint address. It holds EURC that is not considered part of the circulating supply until Circle officially authorizes its mint and public release.
How it works:Pre-mint addresses have an existing balance of EURC, or another token, which is not included in the total amount in circulation.With Gateway now supporting EURC on Solana, a user can mint EURC on Solana.The EURC is then sent from the pre-mint address to the user's wallet address, increasing EURC in circulation.This follows the pre-mint of USDC on Solana, allowing Gateway users to seamlessly mint Circle’s dollar- and euro-denominated stablecoins on Solana.
For any questions or help getting started with Gateway on Solana, view the developer docs and join the conversation in our Discord.
Gateway is software infrastructure provided by Circle Technology Services, LLC ("CTS"). Gateway is non-custodial; CTS does not hold, control, manage, or transfer user assets or act as a transfer agent, registrar, broker-dealer, investment adviser, or clearing agency. Gateway is not a financial, payment, or advisory service and has not been reviewed or approved by NYDFS or any other regulatory authority. Fee estimates are previews only; actual fees may differ. Deposit times vary by chain and network conditions; deposits may be delayed or fail. Source-chain burns are irreversible. USDC only. Eligibility and geographic restrictions apply. Developers are responsible for their own compliance obligations. CTS may modify or discontinue this feature at any time. Developer Terms https://console.circle.com/legal/developer-terms apply.
USDC and EURC are issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
THORSday Community Podcast #244 ft. CBarraford, KentonC137 & Patriotsounds | October 22, 2026 | Watch the full episode on YouTube
By Raynalytics
TL;DRv3.21 was about 13 hours from adoption. Chad expects to cut v3.21.1 next week once two more pull requests merge, and once the paused churn resumes, $XMR is ready to launch.In its second week, SwapKit Rev-Share spent $841.60 in credits on swaps that earned THORChain $3.72K in fees, a 4.4x return that held steady as spending doubled.Chad is turning block time into an adjustable mimir so THORChain can step down from 6 seconds to 2 seconds one second at a time, and step back up without a new binary.About 20% of nodes have started voting to end rewards to liquidity pools. Kenton wants a formal ADR, while Denny and Chad made the case for protocol-owned liquidity (POL) instead.Chad unveiled Visual Review, a tool that turns any code change into an explainer page, and the solvency checker halted a small IBC exploit on its own at a loss of about $800.1. Monero Is Two Pull Requests and a Churn AwayAt recording time, v3.21 was roughly 13 hours from adoption. Chad said two more pull requests need to merge before the team can cut v3.21.1, which he expects next week. The churn is currently paused for issues that v3.21 fixes, so the remaining sequence is: adopt v3.21 and v3.21.1, restart the churn, and launch Monero.
"Once that's out and the churn is churning, we're live." (Chad)A community member asked whether THORChain could be a reorg target, citing the Qubic selfish-mining incidents on Monero. Chad said it comes down to confirmation counting. He described a method JP created years ago: wait enough blocks that the block rewards in that window exceed the value coming into the protocol. More confirmations mean slower trades, but because THORChain has no decentralized competition for $XMR and competes mainly with centralized exchanges, speed matters less at launch. Chad leans toward a higher confirmation count to start, with the exact number still to be researched. For contrast, he recalled Erik Voorhees telling him that ShapeShift used a single confirmation on Bitcoin for its whole history without a reorg incident.
Shielded Zcash addresses are not coming soon. Chad used AI to generate a full implementation in about 12 hours, but it added roughly 20,000 to 30,000 lines of code, and the devs pushed back on the complexity. What tipped Chad was Maya Protocol's data: only about 15% of its Zcash volume uses shielded addresses. The Zcash community is also working on rotating transparent addresses, which Chad expects would need no changes on THORChain's side. He will be at Zcash Foundation's Zcon7 in Cancún next week.
Beyond Monero, BSC is now on Router v6 alongside Base and Avalanche, and churnless chain additions are targeted for the next release or the one after. Asked about Zano, Chad said it is still well back in the queue. He named Substrate-based chains, Bittensor's $TAO and Dash as the short list after Monero, which he called by far the hardest chain THORChain has integrated.
2. SwapKit Rev-Share Holds at 4.4x in Week TwoChad returned to Ray's SwapKit Revenue Share dashboard for a second weekly check-in. Under the 20% Rev-Share, SwapKit has accrued $7.03K in credits and spent $841.60 of it on quote discounts, leaving a $6.19K balance. Swaps carrying those discounts earned THORChain $3.72K in fees, a 4.4x return, slightly below the 4.6x of week one. The discounted swaps added up to $1.96M in volume across 778 swaps, an average of about $2,500 each.
Chad's summary was that the numbers held. Spending roughly doubled over twice the time, and the ratio barely moved, which the hosts called a great sign.
The open question is still scale. Chad expects SwapKit to raise its spending after v3.21, and the hosts noted that the release fixes an affiliate code bug that should let SwapKit add more partners. If the ratio stays around 4.4x to 4.5x, he said raising the share from 20% to 25% would create the flywheel discussed last week, where every dollar SwapKit spends returns more than a dollar to its bucket, until SwapKit's market saturates. Week one is covered in last week's recap.
3. Should THORChain End LP Rewards?Kenton raised a vote already in motion: roughly 20% of nodes, about 27, have started voting to cancel rewards going to liquidity pools. Because it would be a big change to THORChain's economics, he suggested someone write a formal ADR.
The backdrop: for months the incentive pendulum sent nearly all rewards to nodes, then 20% of system income began flowing to POL. Now the pendulum is swinging back, and rewards are reaching legacy LPs again. Kenton's concern is that LPs need $RUNE to outperform to break even, but that same outperformance erodes the value of their accumulating rewards through impermanent loss. He believes POL should replace LPs over time. He also steelmanned the other side: if $RUNE never outperforms enough, those rewards could help pay LPs back. Boone has proposed paying rewards out to LPs directly to shield them from impermanent loss, and wrote in chat that most LPs would not benefit from rewards at current prices because synth leverage is so severe.
Denny, speaking as an LP, backed POL over LP rewards. Ray's POL Income dashboard shows 1.23M $RUNE of system income collected for POL, about $791,500 at current prices. Kenton added that $RUNE tracks volume, volume needs liquidity, and THORChain has lost roughly 75% to 80% of its liquidity since THORFi. He would end the rewards if it were his call, while acknowledging that node operators are also struggling on low yields. Node income is tracked on Ray's THORChain Financials page.
"We are grinding our way out of this hole. It's happening." (Denny)Chad favored POL because it is not mercenary capital. If there were another hack, POL would likely be first in line to absorb losses, rather than the Treasury, which paid for most past incidents. He said he wished THORChain had launched with both streaming swaps and POL from day one. For background, see the recap covering POL's launch.
4. A Gradual Path to 2-Second BlocksChad is revisiting 2-second blocks. The original code was merged about a year and a half ago, then pulled back because a hard switch felt risky and difficult to undo. His new approach is to make block time a mimir rather than a code change, so THORChain can move one step at a time and roll back if needed without releasing a new binary.
"We can walk it down from 6 seconds, what it is now, to 5 seconds to 4 seconds to 3 seconds to 2 seconds." (Chad)His analysis of mainnet suggests 2 seconds is a safe target: about 99% of blocks already complete in under 2 seconds. Around 1.5 seconds might be possible with Cosmos SDK performance gains, but Chad would be cautious. The mimir will be hard-coded to a range of 1 to 10 seconds, and going below 1 second would mean forking or replacing CometBFT, the consensus layer underneath.
On paper, the benefits are clear: streaming swaps would execute three times faster, arbitrage bots would rebalance pools more often, and the Rujira app layer would gain from faster blocks. Chad wants to measure how much of that shows up in practice before pushing lower, and hopes to move ahead within the next month or two. The idea first resurfaced in last week's recap.
5. The Quote-Versus-Fill Test Gets CheaperThe test proposed last week, comparing swap providers' quotes with what users actually receive, is moving forward with Treasury support. Kenton said he and Ray are working out the procedure, and credited Ray for running the numbers. The original plan of $1,000, $10,000 and $100,000 swaps would have meant a few million dollars in volume and, once fees and spreads were included, a cost of a couple hundred thousand dollars. The revised plan uses only $1,000 swaps: around 400 to 500 of them, roughly $400,000 to $500,000 in volume, for a cost of a few thousand dollars. Kenton said THORChain already wins larger quotes, and the low end of the size curve is where it misses volume, so that is the range worth studying.
On marketing, Kenton listed THORChain on a no-KYC exchange directory and asked the community to leave a review. THORChain will appear on the directory's exchange list once it has an XML quote feed, which Liquify agreed to build. He also asked the Unstoppable Wallet devs about Tor (.onion) and I2P addresses for THORChain Swap and set up a THORChain page on Bitcointalk.
Kenton's focus remains AI search. thorchain.org sits in the top 500 of about 120,000 sites on an AI-visibility tracker, though still at a B grade, and new affiliates requesting API keys say they found THORChain through ChatGPT, Claude or Google search. He is also looking into ChatGPT's new advertising, which could open a paid channel crypto lacks on Google.
After a press outlet turned a post about a 140 $RUNE Zcash pool bug into a negative story, Kenton said issues will still be disclosed on Discord and GitLab, but the main X account does not need to spotlight every minor bug.
6. Visual Review Turns Code Changes Into ExplainersChad unveiled Visual Review, a skill he built that turns a code change into a web page explaining it visually. He showed it on his dynamic fee merge request. The page includes a five-minute explainer video with chapters, interactive graphs, and a narrated walkthrough of every changed line, with fuzzy search by file name, function or snippet of code. The goal is to let anyone, technical or not, understand a change before it merges.
"It's my attention and my focus that is the most valuable resource in this process." (Chad)The merge request he showed runs to about 27,000 lines, of which roughly 1,483 are logic changes; the rest are tests and documentation. Huginn will generate these pages automatically, with a button at the top of each pull request. Chad has open-sourced the skill on GitLab, and Kenton added a Visual Review link to the thorchain.org footer during the show.
The dynamic fee change itself replaces the current step search, which moves 1 bps at a time, with a bracket search. Instead of trying 1, 2, 3, 4 and 5 bps, the model jumps from 1 bps to 20 bps, then tests the midpoint and narrows in. Bigger jumps make the market's reaction clearer and reach the best fee in fewer epochs. The change also lets the team switch an affiliate such as Symbiosis off and on to reset its data. Chad hopes to merge it for v3.22.
7. The Solvency Checker Stops an IBC ExploitTHORChain had what Chad called a tiny mini hack this week. A bug in the IBC implementation let an attacker make THORChain believe it had received $ATOM it never received. The first fake deposit was about 16 $ATOM, roughly $20, sent with a bad memo that triggered a refund. The attacker kept doubling that amount across five transactions.
The solvency checker only acts once a shortfall reaches $500, a buffer that avoids halting the chain over small discrepancies. Once that line was crossed, it halted things within about 20 to 30 seconds, with no human involvement, after an attack lasting seven or eight minutes. Chad expects the roughly $800 shortfall to be refilled from the reserve, probably in the next release. In chat, a viewer offered to open a merge request setting the threshold at $42,069.
"It's a success story in my mind, even though it's only $800." (Chad)Chad also wants more math-based safety checks. AI recently helped solve how to account for synthetics in LUVI, a measure that separates pool earnings from price moves and should almost always rise, so it can now act as an invariant that flags broken pool accounting without knowing the cause. LUVI checks were added to regression testing last week, and Chad plans to add them to mainnet code eventually, though it is not a top priority.
A community member also asked why the reserve holds about 25M $RUNE. Chad was not sure and suspects it relates to accounting from the summer hack. Kenton thought a store migration in v3.21 might address it. Long term, Chad said, the reserve would have a cap, with anything above it paid out as system income.
8. Faster CI and Huginn's Growing RoleChad shared a summary of recent changes to THORChain's continuous integration (CI), the automated tests every code change must pass. The team now runs nearly three times as many CI jobs per day, has added more than 1,300 unit tests, and introduced fuzz testing, mutation testing and adversarial-quorum testing. Typical CI time fell from 97 minutes to 24 minutes, and even the worst cases now finish in under 50 minutes, down from waits as long as seven hours.
Asked whether a large language model could formally verify the THORChain stack using Lean, Chad said Lean is a language for mathematical proofs and he does not think it applies to code. Instead, Huginn reviews every change and continuously audits the codebase, tracking which files it has scanned. By Chad's count, Huginn has found more security issues in the past year than every human contributor combined, by orders of magnitude, and it currently reports only the two highest priority levels. A full audit by the security team also turned up a few dozen issues, which are being addressed.
The bottleneck is human review. A community developer recently opened six or seven merge requests; generating one can take five minutes, while reviewing it can cost several engineers 45 minutes each. Chad estimated THORChain could merge 10 to 20 times more code per release without that constraint, though he stressed humans still review everything. Huginn now runs on its own Treasury-funded accounts, which freed Chad's own AI usage for projects like Visual Review.
"If you write code without having AI involved in that process, you're probably doing it wrong." (Chad)What to Watchv3.21 adoption, the v3.21.1 cut expected next week, and the churn resuming ahead of the $XMR launch.Whether SwapKit scales its Rev-Share spending after v3.21, whether the return holds near 4.4x, and whether the share moves to 25%.Whether an ADR on ending LP rewards is written, and how many nodes join the vote.The 2-second block mimir, hoped for within the next month or two.The dynamic fee bracket search in v3.22, and Visual Review pages on every pull request.The quote-versus-fill test, once Kenton and Ray finalize the procedure.Kenton's quarterly report, which he hopes to work on this weekend.Chad at Zcon7, a possible technical Rujira session with Pragmatic Monkey or CodeHans, and Chad's planned appearance on Joel Valenzuela's show.Schedule changes: Zodl on Friday, October 23, and the Saturday show moving an hour later.More THORChain data, check out raynalytics.net
Follow Raynalytics for more Weekly Analytics and Podcast recaps.
THORChain ve 3. čtvrtletí 2026 zpracoval objem 3,82 miliardy USD a vybral poplatky ve výši 5,77 milionu USD, což je téměř dvojnásobek oproti 2. čtvrtletí.
SummaryTHORChain processed approximately $3.82 billion in volume in Q3 2026 and generated around $5.77 million in fees, nearly double Q2 on both counts, in its first full quarter since the June 22 restart. September alone accounted for $2.41 billion as funds from the Bitget exchange hack moved through the network. Excluding those five days, volume and fees were still above Q2.
On the protocol side, v3.20 shipped in late August, bringing back validator churn after more than 60 days and activating Protocol-Owned Liquidity (ADR-024), which now receives 20% of system income. Dynamic fees (ADR-026) went live with ShapeShift, then Edge Wallet and Symbiosis, node operators approved affiliate revenue share (ADR-029), and ADR-031 confirmed the cooperation with Rujira. The quarter also included a two-day halt in late August and a stability sprint that put new launches on hold until mid-September.
THORChain also came under heavy public pressure to block the hacked flows and held to its position as neutral, permissionless infrastructure. Looking ahead, several chains are about to go live such as Zcash, Monero, TAO while ADR-030 (delegated node permissions) and base-layer limit orders are still under discussion.
A Look At Q3 2026 MetricsGeneral Metrics:Total USD Volume: $3.82BHighest 24h Volume: $467.74MChange in Total Liquidity: $54.58M to $89.82MSwap Fees Collected: $5.77MAffiliate Earnings: $1.38MAffiliate Volume: $1.42BTop Swap Routes By Volume:1. BTC <> ETH: $1.18B
2. BTC <> USDC: $466.66M
3. BTC <> XRP: $446.30M
4. BTC <> USDT: $267.83M
5. BTC <> LTC: $133.76M
Top Swap Routes By Swap Fees Collected:1. BTC <> ETH: $2.51M
2. BTC <> XRP: $1.38M
3. BTC <> USDC: $989.4K
4. BTC <> USDT: $575.9K
5. BTC <> LTC: $319.1K
Top Affiliates By Swap Volume1. THORChain.org - $545.76M
2. SwapKit - $208.55M
3. naswap - $92.96M
4. Trust Wallet - $87.66M
5. thor18dvg…kjm4 - $63.27M
What’s New On THORChain In Q3 2026Network And Protocol UpdateNetwork Back Online, With ExceptionsValidator churn stayed halted for more than 60 days after the June restart, until v3.20 went live in late August. Churn then resumed on a three-day cadence, and the active set went from 95 nodes in July to 103 at the end of September, with total bond up to 97.66M RUNE.
A few services were not yet back: Solana trading (which v3.20 started preparing to resume) memoless transactions, switched off in August after an attacker repeatedly registered short memo identifiers, and Rujira’s bond contract and its trading pair, kept disabled for additional checks when the App Layer resumed on September 3.
Protocol Upgrade v3.20v3.20 was the quarter's main release, with 61 merge requests merged in v3.20.0 and 75 across v3.20.0 to v3.20.3. Beyond churn and POL, it shipped the Monero and FROST groundwork, Zcash NU6.3 support, fixes to resume Solana, BNB Chain and Base trading, memoless swaps for ERC-20s, an experimental Stable Reserve (disabled by default), the MOR token, and the ADR-030 code.
Stability FocusThe weeks after v3.20 were dedicated to stability. On August 26 and 27, the network halted because nodes no longer agreed on its state. The cause was traced to Rujira App Layer contracts that could return different results on different nodes. A v3.20.1 hotfix followed, and the App Layer stayed paused until the issue was fixed, resuming by September 3.
From August 27, new launches were put on hold. Zcash, Monero and the SwapKit revenue share test were pushed back, but churns continued, and the first one after v3.20 cut average block times by about 300 milliseconds. The team also fixed a TSS signing issue with follow-up v3.20.x patches and began rolling out Router v6 one EVM chain at a time, starting with lower-risk routes.
The sprint ended on September 17, and THORChain returned to normal operation. It also produced clear guidelines for the App Layer: base-layer queries must give the same result on every node, contract execution must be bounded, and future incidents will follow a set process to halt, contact the affected team and agree on a restart path.
ADR-024: Protocol-Owned Liquidity - ExecutedProtocol-Owned Liquidity went live with v3.20, which made the POL Mimir controls operational. Node operators set the POL share at 20% of system income, and the reserve deploys RUNE into eligible pools (L1 gas assets and approved stablecoins) ranked by their fees-to-depth ratio over three days. The first position went to the TRON.USDT pool. By the end of September, the reserve had deposited 946K RUNE, with positions worth about $679K and around $113K in fees earned.
Alongside POL, node operators cut the RUNE burn from 5% to 1% of system income in mid-September. System income is now split between nodes (59%), POL (20%), TCY (10%), the Dev Fund (5%), the Marketing Fund (5%), and the burn (1%).
ADR-026: Dynamic Fees Live With First PartnersThe dynamic minimum fee went live for whitelisted partners this quarter, starting with ShapeShift. Each partner's fee floor adjusts by 1 bp per day for each selected trading pair, based on fee revenue. A v3.20 update opened the mechanism to more partners, with node operators enrolling Edge Wallet and Symbiosis on September 26. Data is currently being tracked to assess the effectiveness of the mechanism over time.
ADR-028: Pool Reconciliation - Completedv3.20 completed the residual remediation under ADR-028. The Migrate17to18 store migration finished the post-exploit pool reconciliation started in Migrate15to16: it removed phantom depth from 26 pools, reset 4 seed pools (BSC.USDC, BSC.USDT, BASE.ETH and ETH.THOR), and sent the freed RUNE to the Reserve rather than burning it.
ADR-029: Affiliate Revenue Share - PassedNode operators approved ADR-029 in August. REVSHARE lets THORChain return part of its liquidity fees to an approved affiliate THORName, set per THORName through a Mimir key and capped at 50% of the fees that affiliate generates. The payout is taken from system income before it is split, and no RUNE is minted. SwapKit is set to be the first partner tested, as outlined in What's Coming Next below.
ADR-031: Rujira Cooperation Confirmed - ExecutedNode operators adopted Option 1 of ADR-031, confirming and reinforcing the exclusive cooperation with Rujira on the App Layer. THORChain provides Base Layer security and infrastructure, and Rujira builds the App Layer products. Rujira's revenue is now split three ways: 33.34% to a POL Fund owned 50/50 by Rujira and THORChain, 33.33% to THORChain, and 33.33% to RUJI stakers, which keeps THORChain's economic share at 50%.
On top, WasmArbSlipMinBps was set to 0 so the Virtualization Strategy can settle smaller trades more often and tighten quotes. ADR-031 also sets responsibilities in case of an exploit: smart contract exploits fall to Rujira, and Base Layer exploits affecting Secured Assets fall to THORChain.
Monero Audit By Least AuthorityLeast Authority audited THORChain's Monero integration this quarter, with findings delivered in late August. By September 30, 7 remediation merge requests had been merged (5 public and 2 private security fixes), and the fixes will ship in v3.21 coming in October. Completing this remediation is the main gate before Monero goes live on mainnet.
Exploit Post-Mortem - PublishedTHORChain published two further reports on the May 15 exploit.
Exploit Report #2 (July 3) sets out the root cause: three individually low-severity weaknesses in the GG20 signing implementation, a fork of Binance's tss-lib that predated upstream fixes, which the attacker chained together by deliberately failing signing rounds 864 times over about two and a half days.
Exploit Report #3 (August 6), prepared by THORSec/Soda Labs, is the technical deep dive into the three bugs and the fixes now in production.
v3.20 added encryption at rest for TSS keyshares, and the medium-term plan remains to move off GG20, using FROST for Schnorr chains and DKLS for ECDSA chains.
THORChain Holds To Its Ethos Under Public PressureOn September 24, Bitget lost about $387.5 million in a hack of its hot wallet infrastructure, and part of the stolen funds was swapped through THORChain over the following days. Between September 25 and 29, the network processed about $1.38 billion in volume, more than half of September's total.
The flows put THORChain at the center of a public debate. On September 26, Bitget CEO Gracy Chen asked THORChain to refuse service to the attacker's addresses, and OKX founder Star Xu argued that THORChain's ability to halt makes it an intermediary.
THORChain declined the request the same day and held its position throughout. It is a decentralized and permissionless network, like Bitcoin or Ethereum, with no mechanism to block an individual swap, sender, or recipient. Node operators can pause a chain or the network when solvency is at risk, and that halt applies to every user at once: a minority of one-third plus one can stop activity, while any protocol action requires a two-thirds supermajority.
THORChain also reminded that the same rule applied after its own May exploit, when the attacker's addresses were not blacklisted either, similarly to the Bybit and KelpDAO incidents. As Chad explained on Unchained, blocking flows fast enough would mean redesigning THORChain into a more centralized system which can be done if and only if the nodes decide to do it.
Partners And IntegrationsData AccessTHORChain partnered with DefiLlama to launch an investor relations dashboard, giving an independent view of the protocol's fees and revenue, income statement, affiliate and integration leaderboards, swap activity and several more metrics.
Blockworks, which acquired Messari at the end of Q2, announced its THORChain dashboard, taking over the data previously covered by Messari. Work with Raynalytics, Dune and Numia also aims to move public data updates from daily to hourly.
Community member Boone also launched boone.tools, a set of 16 dashboards tracking pools, Protocol-Owned Liquidity, RUNE burns, node bonds, vaults, the Treasury, dynamic fees, governance votes and the App Layer, along with a comparison of THORChain's profitability against Chainflip and NEAR Intents.
FrontendTHORChain Swap added Exodus browser wallet support and Trezor support for XMR, and introduced an optional Houdini Swap private route, which runs through an off-chain intermediary separate from THORChain's native swap engine.
IntegratorsRAVN: a native-asset aggregator in public beta that ranks quotes from more than 13 venues, including THORChain.
BazaarSwap: aggregates over 360 exchanges across 160 blockchains and settles trades natively through THORChain when it offers the best route.
depouch: routes swaps across THORChain, Maya Protocol and NEAR Intents.
NanoGPT: settles crypto payments for its AI models through THORChain.
What’s Coming Next On THORChainNew Chains IntegrationZcash is first in line: the integration is complete, and its pool will be created at the next successful churn, using Zcash's transparent UTXO infrastructure. Trading will start in October.
Monero will follow as a cautious soft launch with a ramp period of several weeks. Its code is in place and already trading on stagenet, node operators will get about three days' notice to enable it.
TAO is expected about six weeks after Monero, with DASH and Zano also in the pipeline.
V3.21 - Planned for Octoberv3.21 is being prepared. It targets a churn-related slashing regression along with App Layer and signing issues. Memoless transactions, switched off in August after an attacker repeatedly registered short memo identifiers, are also being redesigned, with a ramping registration price under consideration.
ADR-030: Delegated Node Operator Permissions - In DiscussionADR-030 would let operators delegate routine actions (maintenance mode, leave requests, fee changes, bond-provider whitelist) to lower-privilege hot wallets while keeping the BondAddress cold. The code shipped in v3.20 and can be activated in v3.21, but the vote stood at about 37% support in early September, short of the two-thirds required.
SwapKit Revenue Share Test - UpcomingWith ADR-029 approved, SwapKit is set to run the first revenue share test in October. THORChain will credit 20% of the revenue from SwapKit-routed swaps to a bucket that SwapKit spends on better quotes. The test will run for one to three months and can be switched off if it doesn't benefit both sides.
Pushed back by the stability sprint, the test will start once SwapKit's side is ready. Success will be measured on net fee income: the discounts have to bring in enough new volume to more than offset the 20% share. The coming weeks should give a clear view of how well the design works.
Base-Layer Limit Orders - In DiscussionNode operator Devel has proposed base-layer limit orders (BLO), which would sit alongside AMM pools to improve quotes, execution speed, and refunds. The proposal would start narrow, with single-pool RUNE-denominated orders inside a 2% band around market price, and is being discussed alongside Rujira's Dynamic Concentrated Liquidity, now in testing.
Ongoing Work From Previous QuartersWork also continues on initiatives from previous quarterly reports, including the migration from GG20 to FROST and DKLS, the Stable Reserve, and onboarding more partners to dynamic fees.
The most reliable way to track Shiba Inu (SHIB) burns is to combine three sources: Shibburn for daily totals, a blockchain explorer such as Etherscan to verify each burn transaction, and ShibWatch or the official shib.io site for the state of ShibTorch, Shibarium’s own burn mechanism. No single tracker is official, and they do not count burns the same way.
About 410.85 trillion SHIB, or 41.08% of the original 1 quadrillion supply, has been burned according to Shibburn, but almost all of it comes from a single transaction by Ethereum co-founder Vitalik Buterin in May 2021. Burns today are tiny: about 673 million SHIB in the past 30 days, worth roughly $3,810. ShibTorch, the official burn portal, is under maintenance and has not burned SHIB since August 2025, according to ShibWatch.
Key Takeaways
Total burned: about 410.85 trillion SHIB according to Shibburn, of which about 410.44 trillion sits in a single dead address that holds Vitalik Buterin’s 2021 burn.
Recent burns: about 2.47 million SHIB in the past 24 hours (about $12), 67.2 million in seven days and 673.4 million in 30 days, according to Shibburn on October 23, 2026.
ShibTorch is paused: the Shibarium burn portal is under maintenance because the SHIB route on the Shibarium bridge has stayed closed since a September 2025 exploit.
Trackers disagree: Shibburn counts about 340 billion more burned SHIB than the three main burn addresses hold on-chain, and supply figures differ by several trillion SHIB between Shibburn and CoinMarketCap.
Headline burn rates mislead: recent spikes of 492% and 2,349% involved burns worth about $13 and $5.
SHIB Burn Data Today
MetricValueTotal SHIB burned (Shibburn)410,845,024,873,680 SHIB (41.08% of 1 quadrillion)Burned in the past 24 hours2,472,769 SHIB (about $12)Burned in the past 7 days67,240,450 SHIB (about $341)Burned in the past 30 days673,379,117 SHIB (about $3,810)Largest burn address balance410,437,114,516,937 SHIB (0xdEAD…2069)SHIB priceAbout $0.0000050ShibTorch statusUnder maintenance; last burn in August 2025 (ShibWatch)
Sources: Shibburn and Etherscan, October 23, 2026; price from CoinMarketCap; ShibTorch status from ShibWatch and U.Today, October 22, 2026. Shibburn’s 24-hour figure is a rolling window, so it changes through the day.
For live price levels, see our Shiba Inu price page.
Where to Check SHIB Burns: Trackers Compared
SourceWho runs itWhat it showsBest forCaveatsShibburn (shibburn.com)Independent; now managed by BurnalyticsTotal burned, 24-hour, 7-day and 30-day burns, recent burn transactions and top burnersQuick daily totalsNot affiliated with the Shiba Inu team; counts several burn addresses; does not publish the cut-off time of its 24-hour windowEtherscanIndependent block explorerSHIB balance of each burn address and every individual transactionVerifying a specific burnShows raw transfers and balances, not daily totals; you need the correct SHIB contract and burn addressShibWatchCommunity tracker; operator not namedShibTorch burn totals, the BONE waiting to be burned and the status of each Shibarium bridge laneChecking whether ShibTorch is workingUnofficial; reads contracts directly but is not auditedshib.io (ShibTorch page)Shiba Inu teamShibTorch burn activity and contractsThe official view of Shibarium burnsIts burn page was failing to load data on October 22, 2026 because the indexer behind it no longer runsThe Shib DailyShiba Inu teamAnnouncements about ShibTorch, Shibarium and burn mechanismsOfficial changes and explanationsThe team’s own outlet, so confirm claims on-chainShibariumscanShibarium block explorerTransactions on ShibariumChecking Shibarium-side activityHad indexed only about 54% of Shibarium blocks as of October 1, 2026
The practical setup is simple: bookmark Shibburn for the daily number, check any large or unusual burn on Etherscan, and look at ShibWatch or shib.io when headlines talk about Shibarium or ShibTorch burns.
SHIB Burn Addresses
The SHIB token contract on Ethereum is 0x95aD61b0a150d79219dCF64E1E6Cc01f0B64C4cE. Burned SHIB sits in addresses that no one controls, so the tokens can never move again.
AddressWhat it isSHIB held on October 23, 20260xdEAD000000000000000042069420694206942069Dead address used for Vitalik Buterin’s May 2021 burn410,437,114,516,936.90x000000000000000000000000000000000000dEaDCommon dead address; Shibburn says the team used it for ShibaSwap listings49,460,833,155.30x0000000000000000000000000000000000000000Null address; sending SHIB here destroys it and lowers the on-chain total supplyAbout 17.67 billion destroyed
Balances from Etherscan. The null address holds no balance because burns to it reduce SHIB’s on-chain total supply, which now stands at 999,982,327,167,466 SHIB instead of 1 quadrillion.
Why SHIB Burn Trackers Show Different Numbers
The three addresses above add up to about 410.50 trillion SHIB. Shibburn reports about 410.85 trillion, roughly 340 billion more, and does not publish the full list of addresses it counts. Media outlets have attributed the gap to Shibburn summing several burn addresses, but the exact method is not public.
Supply figures differ for a similar reason. CoinMarketCap and CoinGecko put SHIB’s total supply at about 589.50 trillion, which equals the on-chain supply minus the two dead addresses above, and its circulating supply at about 589.24 trillion. Shibburn shows a total of about 589.15 trillion and a circulating supply of about 585.49 trillion, because it treats more tokens as burned and excludes more wallets from circulation. Neither side lists every wallet it excludes, so a difference of a few trillion SHIB between sites is normal and does not mean anyone is wrong about the burns themselves.
This comparison is our own analysis of Shibburn, CoinMarketCap, CoinGecko and Etherscan data from October 23, 2026.
Why SHIB Burn Rate Headlines Mislead
Burn rate headlines compare one day’s burns with the day before, so tiny amounts can produce huge percentages. On October 19, the burn rate jumped 2,349% on about 1.10 million SHIB, worth about $5. On October 21, it rose 492% on about 2.7 million SHIB, worth about $13. In early October, a 182,140% spike was followed the next day by a reading of zero burned SHIB.
The more useful measure is burns as a share of supply. About 673 million SHIB burned in 30 days is roughly 0.0001% of the circulating supply. At that pace, burning just 1% of the supply would take about 714 years, according to Cryptoticker. By comparison, about 87 trillion SHIB sat on exchanges on October 21, roughly 129,000 times the monthly burn. Our analysis of SHIB’s burn rate explains the math in more detail.
What Happened to ShibTorch?
ShibTorch went live on August 16, 2024 as Shibarium’s community burn portal. Shibarium charges transaction fees in BONE, and under the network’s design about 70% of base fees is set aside to buy and burn SHIB, with 30% going to the treasury. A hard fork on August 9, 2024 automated that burn, and ShibTorch V2, released in January 2025, moved the portal into shib.io and simplified the bridge route the burns use.
The process has stalled. According to community member Mazrael, cited by U.Today on October 22, 2026, ShibTorch now swaps BONE for SHIB on Shibarium and then bridges the SHIB to a dead address on Ethereum. That SHIB lane on the Shibarium bridge has been closed since the September 12, 2025 exploit, in which an attacker used a flash loan of 4.6 million BONE and control of 10 of 12 validator signing keys to drain about $2.4 million. The BONE lane reopened on October 14, 2025 with a seven-day withdrawal delay, but the SHIB lane has not moved since October 2025, according to ShibWatch.
ShibTorch is now listed as under maintenance, with about 371 BONE waiting to be burned, below the threshold of 1,000 BONE that community members say triggers a burn. ShibWatch counts about 69.32 billion SHIB burned through Shibarium-related mechanisms in total, worth about $1.27 million at the time of the burns, and says ShibTorch has not burned since August 2025. Our report on what Shiba Inu is building covers the wider Shibarium roadmap.
A Short History of SHIB Burns
DateEventMay 16 to 17, 2021Vitalik Buterin burns about 410.24 trillion SHIB, about 41% of the supply and 90% of his remaining SHIB, worth up to $6.7 billion at the timeApril 2022A burn portal launches on ShibaSwap, rewarding burners with tokens that earn a share of RYOSHI fees; more than 8 billion SHIB is burned in its first 24 hoursDecember 5, 2023First Shibarium-linked burn: 8.2 billion SHIB, worth about $76,000, from fees collected on the networkAugust 9, 2024Shibarium hard fork automates the burn of 70% of base feesAugust 16, 2024ShibTorch goes live as Shibarium’s community burn portalJanuary 30, 2025ShibTorch V2 moves into shib.io with a simpler bridge routeSeptember 12, 2025Shibarium bridge exploit drains about $2.4 million; the SHIB bridge lane stays closedJuly 2026About 2.96 billion SHIB burned in the week to July 30, the biggest weekly total of the yearOctober 2026ShibTorch under maintenance; 30-day burns near 673 million SHIB
How to Verify a SHIB Burn Yourself
Find the transaction hash. A reliable burn report links to the transaction or names the wallet that sent it.
Open it on Etherscan. Check that the token is SHIB, at contract address 0x95aD61b0a150d79219dCF64E1E6Cc01f0B64C4cE, and not a copycat token.
Check the destination. The tokens should go to one of the burn addresses above or be destroyed through a verifiable contract.
Match the amount and time. Compare the on-chain amount with the reported figure, and check whether a burn rate refers to 24 hours, seven days or another period.
Separate burns from pledges. Tokens that are pledged, locked or waiting in a contract, like the BONE sitting in ShibTorch, are not burned until the transaction happens.
Do SHIB Burns Affect the Price?
Not meaningfully at today’s pace. With about 589 trillion SHIB in circulation and burns of under a billion a month, supply is effectively fixed, so SHIB’s price depends on demand, Bitcoin’s direction and meme coin sentiment far more than on burns. Our analysis of whether Shiba Inu can reach 1 cent shows how many tokens would need to be burned for that to change, and our Shiba Inu price prediction covers the forecasts from 2026 to 2040. If you plan to buy SHIB, our guide on where to buy Shiba Inu compares exchanges and wallets.
Data sources: Shibburn and Burnalytics (burn totals), Etherscan (SHIB contract and burn address balances), ShibWatch (ShibTorch and bridge status), U.Today and CoinTurk (ShibTorch maintenance), The Shib Daily (ShibTorch launch, V2 and bridge reopening), The Block (bridge exploit), Decrypt and CoinDesk (Vitalik Buterin’s 2021 burn), Cryptoticker (burn rate math and exchange balances), CryptoPotato and U.Today (burn rate spikes) and CoinMarketCap and CoinGecko (supply and price), as of October 23, 2026.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile; always do your own research before investing.
Frequently Asked Questions
How much SHIB has been burned?
About 410.85 trillion SHIB, or 41.08% of the original 1 quadrillion supply, according to Shibburn on October 23, 2026. Almost all of it comes from Vitalik Buterin’s burn of about 410.24 trillion SHIB in May 2021. The main dead address holding that burn has about 410.44 trillion SHIB, and burns since 2021 add up to only a small fraction of the total.
How much SHIB was burned today?
Shibburn showed about 2.47 million SHIB burned in the 24 hours to October 23, 2026, worth about $12, along with about 67.2 million SHIB in seven days and 673.4 million in 30 days. The 24-hour figure is a rolling window that changes through the day, so always check the time of any reading before comparing it with another source.
What is the most reliable SHIB burn tracker?
Shibburn is the most widely cited tracker for daily totals, but it is independent and does not publish its full method. For accuracy, check any important burn on Etherscan, which shows each transaction and the balance of every burn address. For Shibarium and ShibTorch burns, ShibWatch and the official shib.io site show whether the mechanism is actually working.
What is the Shiba Inu burn address?
The main SHIB burn address is 0xdEAD000000000000000042069420694206942069, which holds about 410.44 trillion SHIB, including Vitalik Buterin’s 2021 burn. The common dead address 0x000000000000000000000000000000000000dEaD holds about 49.46 billion SHIB. Sending SHIB to the null address destroys it, which has removed about 17.67 billion SHIB from the on-chain total supply. Always confirm the SHIB contract address before sending or checking any burn.
Why is ShibTorch not burning SHIB?
ShibTorch is under maintenance because the SHIB route on the Shibarium bridge has been closed since a September 2025 exploit that drained about $2.4 million. The portal swaps BONE fees for SHIB and bridges it to a dead address on Ethereum, so without the bridge it cannot complete burns. About 371 BONE was waiting in ShibTorch on October 22, 2026.
Why do SHIB burn trackers show different numbers?
Trackers count different addresses and exclude different wallets from supply. Shibburn reports about 340 billion more burned SHIB than the three main burn addresses hold, and it puts circulating supply near 585.49 trillion, against about 589.24 trillion on CoinMarketCap. Neither publishes a full list of the wallets it counts, so small differences between sites are normal.
Can token burns push SHIB to 1 cent?
Not at the current pace. About 673 million SHIB was burned in the past 30 days, roughly 0.0001% of the circulating supply, so burning even 1% would take about 714 years. One cent would require removing almost all of the remaining 589 trillion SHIB, or a market value of about $5.9 trillion, more than twice the entire crypto market.
As our ecosystem has grown, several early initiatives have been phased out or integrated, while our core offerings have matured. To sharpen our strategic focus, JUST has restructured its brand architecture around three flagship product lines and unified all governance and buybacks under JUST DAO. Alongside this upgrade, our redesigned official website is now live. Here are the key updates:
I. Core Product Architecture
JUST is an open finance network for the global on-chain economy, rooted in TRON and connected to global markets. It continuously repurchases JST using real business revenue. The ecosystem mainly focuses on the following three core product lines:
JustLend: Put TRON assets to work through lending, sTRX, and Energy services for higher efficiency.
GasFree: Pay transfer fees directly in USDT or USDD to make on-chain transactions frictionless for everyone.
USDD: Access stablecoin liquidity and yield opportunities through overcollateralized minting, PSM swap, and structured products.
Alongside these three products, several other ecosystem businesses make up the full JUST suite.
II. Governance and Buybacks Unified Under JUST DAO
JST serves as the core governance token across the JUST ecosystem, used to submit proposals and cast votes. Governance and buyback-and-burn operations are now formally unified under JUST DAO. Operations previously managed by JustLend Grants DAO have migrated entirely to JUST DAO, establishing a single governance hub across JustLend, USDD, GasFree, and other ecosystem initiatives.
JST's long-term value accrual is anchored in real protocol revenue generated across the ecosystem. Revenue from JustLend and GasFree will continue to fund JST buybacks, and net revenue from USDD exceeding $10 million will be allocated directly toward the buyback program. Historical buyback and burn records will be archived and detailed on the official analytics page, now under the JUST DAO name, to maintain full data auditing and traceability.
Governance infrastructure has also been migrated directly to the JUST official website, providing a single interface for ecosystem-wide proposals and voting.
III. New Official Website & Whitepaper
The redesigned JUST website is now live, featuring an integrated analytics dashboard and a dedicated buyback-and-burn tracker. All historical and ongoing burn metrics are updated regularly for full on-chain transparency.
The JUST Whitepaper has also been updated to detail the ecosystem's streamlined architecture, core product lines, and revised JST tokenomics.
Going forward, JUST DAO will continue to build long-term value for JST through a clearer business structure and more transparent data disclosure. We invite you to explore the new official website and the upgraded JUST ecosystem.
Útočník po útoku na most Cysic převedl do Tornado Cash 300 ETH a 30.4 BNB v hodnotě přibližně 744 000 USD, přestože nadace nabídla 10% odměnu za vrácení prostředků.
Cysic dangles a 10% bounty, hacker pours loot into Tornado CashThe attacker moved $744,000 in ETH and BNB to Tornado Cash after exploiting Cysic’s bridge to mint 10 million tokens on BNB Smart Chain.
The wallet linked to the Cysic bridge exploit sent about $744,000 in cryptocurrencies to Tornado Cash on Friday after the Cysic Foundation offered the attacker a 10% recovery bounty.
The address transferred 300 Ether (ETH) and 30.4 BNB to the crypto mixer, according to blockchain security company PeckShield.
The hacker exploited a bridge vulnerability to mint 10 million Cysic (CYS) tokens on BNB Smart Chain on Saturday. Cysic suspended the bridge and blacklisted the recipient address, freezing about 2.8 million of the newly minted tokens. The foundation said its mainnet and existing assets in user wallets were unaffected.
The following Thursday, the Cysic Foundation offered the hacker a 10% bounty in exchange for returning 275.872 ETH, worth about $665,000, representing roughly 90% of the identified Ether proceeds.
Tornado Cash pools deposits from multiple addresses, making the funds harder to trace. The attacker’s Ethereum wallet held just $45 in ETH at press time, according to Akham data.
Cointelegraph contacted the Cysic Foundation for comment on fund recovery efforts but did not receive a response by publication.
Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
White.market, a CS2 skins marketplace, together with WhiteBIT are launching Cache Back. The campaign combines in-game item trading with rewards in Tether Gold (XAU₮), a digital token backed by physical gold.
From October 14 to December 12, 2026, users who purchase CS2 skins on white.market can receive up to $25 worth of XAU₮ in their WhiteBIT accounts.
For white.market’s trading community, this opens not only access to more than one million CS2 skins, but also the opportunity to receive a reward in a digital asset that represents ownership of physical gold.
Skins have long outgrown their purely in-game function. They’re collected, resold, and rare items can be worth thousands of dollars: according to analyst estimates, the secondary CS2 skin market’s capitalization ranged between $4.3–6 billion in 2025–2026, with players opening over 400 million cases each year (SteamDB). Cache Back adds a new element to that experience — an introduction to tokenized gold through a purchase players already make.
Gold has long been viewed as a store of value, and tokenization now makes it as easy to hold as any digital asset — without a vault or physical storage. XAU₮, issued by Tether, is one of the largest tokens that provides you ownership of real physical gold.
XAU₮ tokens are divisible into increments as small as 0.000001 fine troy ounce of gold held in a Swiss vault.
Cache Back sits precisely at the intersection of these two trends — the excitement of the skin market and growing interest in stable digital assets.
A single skin purchase of $20 or more during the campaign period qualifies for cashback. A standard skin earns $20 in XAU₮, while a skin from the Gold Collection earns $25. Each participant may receive the cashback only once during the entire campaign. The reward is credited automatically, but withdrawing, trading, or converting it requires completed KYC verification on WhiteBIT, to be finished by December 31, 2026.
Gold Tickets can also be earned without a purchase, through Quick Learn — short educational cards explaining what XAU₮ is and how it is backed by physical gold.
Participation opens on October 14. Only users whose Steam accounts were registered before the start of the campaign can take part. To join, sign in to white.market via Steam and connect a WhiteBIT account. Full terms are available on the campaign page.
WhiteBIT and white.market are part of W Group. W Group is a global fintech ecosystem that brings together high-tech companies across blockchain, cryptocurrencies, traditional finance, and media.
The campaign’s materials, including Quick Learn, are for informational and educational purposes only and do not constitute investment, financial, or trading advice. Full terms, including a list of countries and jurisdictions with participation restrictions, are available on the campaign page on white.market.
AUTHOR
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.
