Track market-moving stories before they get noisy

Arbitrum (ARB) experienced a significant price drop over the past 24 hours, falling 8.51% to $0.1827. The decline pushed ARB beneath the $0.20 threshold, despite continued strength in network activity and sustained high derivatives open interest.

Technical indicators point to mixed momentumFollowing a strong September rally that brought ARB up to the $0.24 level, the token has retraced over recent sessions. The latest daily trading candle dipped as low as $0.1803 before closing closer to $0.1827. Attention has shifted to whether buyers can defend the broader support region near $0.1416. A recovery back above $0.20 could mark renewed bullish sentiment among traders.

According to chart data, the relative strength index (RSI) currently stands at 46.71, which is below its moving average value of 58.91. This suggests a loss in short-term price momentum, but since RSI remains above 40, the market has not reached oversold conditions.

On-balance volume (OBV) is reported at 948.37 million, while daily trading volume hit 74.83 million ARB. Compared to earlier periods this year, OBV is still higher, indicating a relatively robust cumulative volume flow despite the recent price decline.

Current price action shows Arbitrum trading below key resistance but network metrics such as OBV and volume indicate the underlying ecosystem remains active.

Not included in the available data are MACD and moving averages, which limits some aspects of the technical analysis.

Arbitrum Foundation launches Dune credit initiativeThe Arbitrum Foundation has launched a new initiative to bolster ecosystem analysis, offering analysts 2,500 Dune credits monthly. This program encourages the creation and upkeep of public dashboards, which are intended to expand data accessibility across the network.

The Foundation stated its objective is to “broaden access to ecosystem data,” emphasizing that improved transparency can support a more effective and programmable economy.

Dune Analytics provides on-chain data infrastructure, allowing researchers and builders to visualize, query, and share blockchain network information in customizable dashboards.

Mini dictionary: Dune Analytics, an analytics platform offering real-time blockchain data visualization tools and open-access dashboards, enabling users to perform in-depth analysis on multiple blockchains including Arbitrum.

Recent transaction data shows 10.43 million weekly transactions, 473,850 weekly active addresses, and a total value locked (TVL) of $1.24 billion on Arbitrum.

MetricValueWeekly transactions10.43 millionWeekly active addresses473,850TVL$1.24 billionDerivative markets remain active despite price dropWhile the recent price pullback signals short-term weakness in ARB, on-chain and derivative metrics suggest the network’s underlying activity levels remain elevated. CoinGlass reports Arbitrum’s open interest is holding near the $275 million to $280 million band, despite the decline from recent highs. This reflects ongoing positioning among traders in both spot and derivatives markets.

Elevated open interest during a period of falling prices signals a significant amount of open contracts, potentially priming the market for a sharper move in either direction depending on upcoming volatility.

Support and resistance levels remain critical for near-term direction. For ARB to confirm a recovery, bulls need to reclaim and hold above $0.20, which could revive the $0.22 to $0.24 resistance area as a target. If bearish momentum persists and price drops below the $0.1416 support level, further downside risk may emerge.

While new data programs could improve ecosystem transparency, ARB has yet to demonstrate a lasting return of bullish momentum. Traders continue to monitor market sentiment, support zones, and the impact of ongoing data initiatives on price direction.

The overall technical landscape features softened momentum as indicated by RSI and price action, contrasted by healthy OBV and high transaction figures, reflecting continued network utilization.

The Dune credit program introduces a new data-focused catalyst for analysis, but definitive price direction will depend on whether improved transparency can help restore confidence and drive renewed buying interest.

Matter Labs, the company behind the ZKsync protocol, has open-sourced the core permissioning engine of Prividium, its enterprise blockchain platform. The code went public on September 8, 2026, under the Apache 2.0 license.

Germany’s Deutsche Bundesbank is the first organization testing a self-hosted instance. The Bundesbank is collaborating with Matter Labs on both design and testing for its self-hosted deployment.

The release does not hand over everything. Matter Labs is keeping its enterprise tooling, including user interfaces and deployment tools, proprietary. The engine is open. The polished dashboard around it still comes with a bill.

What’s actually in the repo The release covers one main app and six packages. All of it lives in a public GitHub repository called matter-labs/prividium-core.

The permissioning engine is the part that decides who can do what on a private chain. For a regulated institution, that layer matters a lot. Permissions and auditability are the features compliance teams actually lose sleep over.

Advertisement

This piece completes a broader stack that was already public. ZKsync OS, the Atlas sequencer, the Airbender prover, and the interoperability contracts were all open-sourced before this announcement.

With the permissioning engine added, institutions can now independently build permissioned chains using publicly shared code. Previously, the gatekeeping layer was the missing puzzle piece.

The Apache 2.0 license lets institutions inspect and modify the engine without signing a commercial agreement for that specific component. A bank can read every line, change what it needs, and run it in-house without needing Matter Labs’ permission to do so.

Why a central bank cares about vendor lock-in Prividium is built for validium-style chains. In this model, transaction data stays off-chain, which keeps sensitive financial activity private. The chain still anchors to Ethereum through zero-knowledge proofs.

Matter Labs framed the open-source move as a response to institutional feedback. Large organizations told the company they were wary of depending on a single vendor for critical technology.

Opening the permissioning engine addresses that worry at the layer where it bites hardest. If the gatekeeping logic is public, an institution can verify it does what it claims and keep it running regardless of what happens to the vendor.

What this means The business model here is a familiar one: give away the engine, sell the car. Matter Labs keeps control over the commercial services that make deployment easier, while removing the biggest objection institutions raise in procurement meetings.

The Bundesbank test is the clearest signal of where this is aimed. A German central bank running a self-hosted Prividium instance is a meaningful credibility marker for ZKsync’s enterprise ambitions, though it remains a test rather than a production rollout.

Prividium chains anchor to Ethereum through zero-knowledge proofs, so institutional adoption of this model would route more enterprise activity back to Ethereum as the settlement layer.

There are also open questions about how far an open engine goes on its own. Institutions that self-host still need the skills to run and maintain the stack. The proprietary deployment tools exist precisely because that work is not trivial.

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

Hyperliquid Labs has confirmed its registered headquarters in Singapore, where its roughly 11-person team moved in 2024, while the country’s regulator has said it is unaware of the platform being regulated in any major jurisdiction.

Summary

Hyperliquid Labs has confirmed Singapore as its registered headquarters and acknowledged its unregulated status. People familiar with MAS’s thinking cited decentralization as the reason it considers Hyperliquid outside its jurisdiction. MAS added Hyperliquid to its Investor Alert List on June 26, without imposing a ban. Payward has proposed regulated Hyperliquid-based markets for eligible U.S. customers, subject to approval. The Financial Times reported that Hyperliquid Labs confirmed its Singapore headquarters, while people familiar with the Monetary Authority of Singapore’s thinking said the regulator considers the decentralized platform outside its jurisdiction.

In its direct response to the newspaper, MAS said, “We are not aware that Hyperliquid is regulated in any major jurisdiction.”

Hyperliquid acknowledged that it operates without regulation, according to the report, and said it has never claimed to hold permission or authorization from MAS. The company also expressed willingness to work constructively with regulators.

Hyperliquid’s Singapore presence includes its development team According to the FT, co-founder Jeff Yan and a team of about 11 people relocated to Singapore in 2024. Company documents reviewed by the newspaper identified Singapore as the registered headquarters, while recent recruitment material also referred to an office there.

The newspaper reported that job advertisements posted as recently as the previous week asked candidates whether they could work in the Singapore office. Hyperliquid Labs confirmed its registered location when approached by the FT.

People familiar with MAS’s position told the publication that the platform’s decentralized nature was the basis for its view that Hyperliquid should not fall under its jurisdiction. Hyperliquid, for its part, told the newspaper it remains unregulated and is open to cooperation with authorities.

MAS’s investor warning identifies an unlicensed platform As crypto.news previously reported, MAS added Hyperliquid to its Investor Alert List on June 26. The regulator’s entry names both the Hyper Foundation website and the Hyperliquid trading application.

MAS describes the list as a notice about entities that investors may wrongly believe are licensed, authorized or regulated by the authority. The regulator says the list is not exhaustive and records information available when an entry is published.

Responding to the June listing, Hyperliquid said:

“IAL listing does not constitute a ban, an enforcement action, or a finding of wrongdoing.”

In the same response, the platform said its permissionless infrastructure remained unchanged and reiterated that it had never presented itself as authorized by MAS. Hyperliquid also said it would work with regulators and institutions to support clear rules for on-chain finance.

Singapore requires licenses for covered overseas token services In June 2025, earlier reporting detailed Singapore’s overseas token licensing deadline, following MAS’s May 30 notice and June 6 clarification. The regulator required covered providers to obtain a license or stop the activities by June 30, 2025, without an additional transition period.

MAS said the framework applies to digital token service providers serving only customers outside Singapore in digital payment tokens or tokens representing capital market products. The authority said it had set a high licensing bar and would generally not grant licenses for that business model.

Explaining its position, MAS cited higher money-laundering risks and difficulty supervising providers whose substantive regulated activity takes place overseas. The regulator said providers without the necessary license must cease covered services from the effective date.

U.S. access proposals rely on registered trading infrastructure For American customers, former SEC senior counsel Ashley Ebersole described a separate U.S. regulatory pathway in an Aug. 31 report. Ebersole, co-founder and chief legal officer at tx, said existing U.S. law does not provide a straightforward route for offering offshore-style crypto perpetual futures to retail customers.

According to Ebersole, the CFTC would likely oversee contracts tied to commodities, while securities-linked products could involve the SEC. A compliant structure could require registrations covering the trading venue, clearing and intermediaries, alongside rules or exemptions for the products themselves.

Even if both agencies pursued the work, Ebersole estimated a 10-to-12-month process. He said agencies would need to identify their legal authority, establish a framework, and complete any required proposal, public-comment, and implementation steps.

Ebersole said reliance on existing powers or exemptions could shorten that process, while litigation, disagreements between agencies or a need for legislation could delay it.

On Sep. 16, Kraken parent Payward announced plans for regulated Hyperliquid perpetual markets using the platform’s HIP-3 infrastructure. Payward said the proposed markets require regulatory approval before eligible U.S. customers can trade.

Under the proposal, Bitnomial Exchange would create and administer the contracts, with Bitnomial Clearinghouse handling clearing and settlement. Payward said trades would use Hyperliquid’s on-chain order book for matching and recording transactions.

For customer access, Payward plans to use NinjaTrader Clearing to carry accounts. The company said traders would need to complete onboarding and appear on both NinjaTrader and Bitnomial allowlists before participating.

Payward’s proposed arrangement limits customers to the regulated products Bitnomial deploys under its exchange rules, rather than every market available through Hyperliquid. In the Sep. 16 announcement, Payward named Hyperliquid as the first protocol for the initiative and did not specify a launch date.

Forget stocks — U.S. investors are more interested in upping their bitcoin holdings, according to new research. 

Charles Schwab’s 2026 Modern Wealth Survey dropped on Wednesday, and showed that current cryptocurrency investors want to keep adding to their holdings. 

The research revealed that a total of six in 10 plan to invest more over the next 12 months — a higher share than among owners of all other investments measured, including ETFs (56%), stocks (52%), bonds (42%), and mutual funds (41%). 

“Existing cryptocurrency investors are certainly leaning in, particularly younger investors who are driving much of the interest and momentum in cryptocurrency,” Head of Digital Assets at Charles Schwab, Joe Vietri, said in a statement. 

“But to me, the bigger story is that cryptocurrency is increasingly viewed as a complement to traditional investments.”

Charles Schwab is the country’s largest custodian for registered investment advisors, and earlier this year began a phased rollout of Schwab Crypto to retail clients, giving them direct access to bitcoin trading along with educational content and professional support. 

Schwab also offers crypto-linked exchange-traded funds, bitcoin futures, and its own Schwab Crypto Thematic Index ETF. CEO Rick Wurster has said Schwab clients hold more than 20% of all crypto exchange-traded products across the industry.

Wednesday’s report added that one in five Americans overall own cryptocurrency today, and another one in five say they don’t own it but are interested in buying it. Among investors, nearly half own cryptocurrency. 

It further noted that millennials are the most likely to own cryptocurrency, and are more than four times the rate among Boomers. 

The online survey was conducted by Logica Research from August 24 to September 17, 2026, among a national sample of 2,000 Americans ages 21 to 75. 

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

Right now, what Bitcoin needs is a catalyst to keep HODL sentiment intact.

As AMBCrypto recently reported, Bitcoin was trading near $86,200, putting whales at roughly 39% unrealized profit and sharks at nearly 28% based on their respective cost basis. With BTC now down to $83k, the risk of profit-taking and a new wave of selling pressure is clearly back.

In this situation, Bitcoin needs a fresh catalyst to give HOLDers a reason to stay put instead of locking profits.

This becomes even more important as Bitcoin’s latest Fear & Greed reading adds another layer to the setup. As the chart below shows, BTC closed the last session with the index at 73, reclaiming this level for the first time since the 1st of October.

However, the index has since eased to 71. While it is still in the Greed zone, the pullback could be an early sign of sentiment starting to cool.

Source: Alternative.me Taken together, the growing profit stack and the volatile Fear & Greed Index suggest that Bitcoin’s bullish setup is starting to look shaky. With whales and sharks sitting on sizable unrealized gains, a further shift in sentiment could lead to profit-taking and hence selling pressure.

Why are Bitcoin whales adding to holdings? Against that backdrop, Santiment reported continued accumulation among wallets holding between 10 and 10,000 BTC.

Source: Santiment These wallets added 86,702 BTC over three weeks, lifting their combined holdings to the highest level since the 23rd of April. The increase suggested that larger holders continued building exposure despite Bitcoin’s recent weakness.

However, accumulation alone could not establish how long they intended to hold. If those wallets later sold, their larger balances could increase the supply entering the market.

For now, that remained a conditional risk rather than evidence that accumulation itself had turned bearish. A fresh catalyst could strengthen holders’ willingness to maintain their Bitcoin exposure through the pullback.

China’s crypto pivot could test Bitcoin’s HODL strength Joseph Chee’s comments offered one potential narrative for investors to watch.

The former UBS Asia investment banking chief and Solana Company CEO discussed China potentially allowing greater crypto activity. He pointed to Hong Kong as a testing ground.

In his CNBC interview, Chee suggested that reopening access could trigger another crypto supercycle. His comments described a possibility, rather than an announced policy change.

Meanwhile, CryptoQuant data showed more than $3.3 billion worth of BTC leaving Binance over approximately two weeks. Weekly Outflows also reached their highest levels since 2023.

Source: CryptoQuant If this trend continues, China’s potential crypto pivot could give Bitcoin holders another reason to stay put.

The logic is straightforward: Whale accumulation and exchange outflows both point to the same thing: more BTC is moving into long-term hands. So, if the supercycle narrative continues to gain traction, the 39% and 28% unrealized profit levels could have even more room to expand, thus encouraging these investors to avoid selling into the current market weakness and HODL for bigger gains.

Thus, the recent dip in Bitcoin’s Fear and Greed Index could therefore be temporary, as on-chain signals continue to support HODLing through the current market FUD.

Final Summary Bitcoin sentiment is cooling, but whales and long-term holders are still accumulating. China’s crypto pivot could boost the supercycle narrative and encourage holders to keep HODLing.

Litecoin (LTC) has reached a milestone of 15 years running without interruption since the launch of its genesis block in 2011, underscoring its position among the most enduring digital assets. The blockchain continues to operate efficiently, reflecting its stability and critical role within the cryptocurrency sector.

Anniversary highlights longevity and efficiencyOn the anniversary, Zach Pandl, head of research at Grayscale, highlighted a notable surge in Litecoin’s mentions across the market. He described Litecoin as an “OG altcoin,” emphasizing its longstanding reputation as a foundational and time-tested asset in the digital currency environment.

Litecoin maintains remarkably low average transaction fees at $0.003, positioning its network as a cost-effective alternative to Bitcoin for routine transactions. The blockchain’s security is supported by a hashrate of 2,671.43 terahashes per second (TH/s) and a user base of 9.10 million active addresses. These metrics illustrate robust engagement and continued trust in the Litecoin network among users.

Grayscale’s head of research, Zach Pandl, noted the significant rise in attention for Litecoin and reaffirmed the asset’s reputation as an “OG altcoin” that has held strong fundamental value over the years.

Mini dictionary: Hashrate, the total computational power used to secure and process transactions on a proof-of-work blockchain, measures the health and security of networks such as Litecoin and Bitcoin.

Grayscale targets ETF conversion on NYSEGrayscale, a leading digital asset management firm, holds substantial commercial interests in Litecoin through its Grayscale Litecoin Trust (LTCN). This investment vehicle is the largest institutional product for Litecoin, managing $97.56 million in net assets and accounting for 24.25 million outstanding shares.

In September, Grayscale submitted an amended application to the US Securities and Exchange Commission (SEC) to convert the trust into a spot ETF to be listed on NYSE Arca. While the firm awaits regulatory approval, a smaller Litecoin fund operated by Canary Capital has already launched trading, but Grayscale’s trust remains the primary gateway for large-scale investors seeking exposure to Litecoin.

ProductIssuerTypeNet AssetsStatusLitecoin Trust (LTCN)GrayscaleTrust$97.56 millionPending ETF conversionLitecoin FundCanary CapitalFundSmallerTradingLitecoin’s 15th year comes as the asset positions itself not as an obsolete remnant from the early days of blockchain but as a mature, regulated product aiming for a full debut on a major US stock exchange.

Entering its fifteenth year, Litecoin continues to evolve from a pioneer in the crypto sector to a compliant financial instrument poised for potentially broader adoption through traditional market infrastructure.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ripple has released an update to its institutional platform, Ripple Custody version 1.43, adding support for the Canton Network. The release allows banks and funds to custody the native Canton Coin (CC) and CIP-56 tokens within a single secure environment, marking a major strategic move by the company to dominate the Wall Street tokenization market.

You Might Also Like

The move changes the balance of power in the race to tokenize real-world assets (RWA) and dispels a popular media myth from late 2025 that Canton was an "XRP killer." Instead of a head-on battle for banking infrastructure, major players have moved toward a pragmatic division of labor.

HOT Stories

Tokenization giants choose market division over all-out rivalryThe main problem with blockchain on Wall Street has been excessive transparency: banks cannot disclose their balances and transaction details to competitors. Canton Network, developed by Digital Asset, addresses this issue at the protocol level — in multi-party transactions, each participant sees only their own data. 

The Ripple Custody 1.43 update gives institutions a familiar control panel for this private environment, from isolated key storage to pre-approvals and two-step transfers.

The scale of the integration is far removed from retail speculation. Canton's industrial base is already used by Goldman Sachs, BNP Paribas, and BNY Mellon. Broadridge's platform processes multibillion-dollar repo transactions through it every day, while clearing giant DTCC tokenizes U.S. Treasuries on these rails. The CIP-56 standard allows such settlements to be conducted on a delivery-versus-payment basis, atomically and without vulnerable cross-chain bridges.

Ripple Custody release documentation detailing Canton Network integration features, Source: Ripple You Might Also Like

In late 2025, amid a rally and Bitwise's preparations to launch a Canton Coin-based ETF, the media expected a war for banking corridors. The latest release has put everything in its place, clearly showing how major players have simply divided their spheres of influence in the tokenization market instead of competing head-on.

Canton Network is taking on the role of a private ledger and a "digital notary" for recording ownership rights within the banking sector. Ripple and the XRP token, in turn, remain a public liquidity bridge for transferring value across borders between fragmented systems. 

Custody support for Canton allows Ripple to prevent banking clients from leaving and cement its position as a key infrastructure partner for Wall Street in a multichain world.

Coinbase official logo (public domain, Wikimedia Commons) — CryptoBriefing brand treatment

Coinbase Pro is set to return with enhanced features, according to an announcement made by Coinbase on social media. The professional platform, which had been previously integrated into Coinbase’s main app, will now offer expanded market options and improved precision for its users. This development follows Coinbase’s strategic integration with Deribit, resulting in the creation of the Coinbase Global Exchange. The revamped Pro platform is expected to support a diverse range of financial instruments, including spot, futures, perpetuals, options, and equities. This move could potentially increase market interest and activity, especially in the Ethereum markets.

Key Takeaways The return of Coinbase Pro suggests a renewed focus on advanced market offerings, which may indicate increased activity in related markets. The integration with Deribit and formation of Coinbase Global Exchange reflects a strategic expansion of Coinbase’s ecosystem. Market pricing suggests that the relaunch could influence Ethereum’s future price predictions, consistent with scenarios where increased exchange activity supports higher price outcomes. What to Watch Observers should monitor how the reintroduction of Coinbase Pro impacts Ethereum’s market dynamics, particularly in the context of the existing prediction markets. Key actors such as Coinbase CEO Brian Armstrong and Ethereum co-founder Vitalik Buterin may provide further insights or developments that could influence market expectations. Additionally, developments in regulatory environments and institutional adoption of Ethereum could also play a significant role in shaping future price movements. Markets will be watching for any indications of increased volumes or shifts in market sentiment as the platform relaunches.

Term Structure

Contract Odds Δ since publish Volume 24h December 31, 2026 0.9% — — View market → December 31, 2026 1.2% — — View market → December 31, 2026 1.9% — — View market → December 31, 2026 2.9% — — View market → December 31, 2026 4.5% — — View market → January 1 2027 19.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.2% — — View market → January 1 2027 1.1% — — View market → January 1 2027 1.7% — — View market → January 1 2027 4% — — View market → January 1 2027 10.5% — — View market → January 1 2027 6.9% — — View market → January 1 2027 2.8% — — View market → January 1 2027 1% — — View market → January 1 2027 4.5% — — View market → January 1 2027 47.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 19.5% — — View market → January 1 2027 35.5% — — View market →

Chainlink (LINK) has experienced a notable price increase since early September, but on-chain data indicates that activity among new wallet addresses has not kept pace with the token’s appreciation.

Price surge outpaces address growthOn-chain analytics firm Santiment reported that LINK’s price surged by approximately 24% between September 1 and October 6. Despite this robust rally, the creation of new LINK addresses showed only a marginal uptick during the same period.

Santiment data shows that over the past four weeks leading to October 6, the average number of new LINK addresses per day stood at 1,249. This is only a slight increase from the previous four-week average of 1,225 new addresses per day, marking under a 2% rise.

Comparative analysis with other major cryptocurrencies reveals a differing pattern. Solana (SOL) registered a 33% jump in new addresses alongside a 20% increase in price over a similar timeframe. In contrast, Ethereum (ETH) saw limited growth in new addresses despite an approximate 11% gain in value.

AssetPrice Increase (%)New Address Growth (%)Chainlink (LINK)24%~2%Solana (SOL)20%33%Ethereum (ETH)11%MinimalSantiment highlighted that LINK’s growth in user participation has not matched its positive price movement, setting it apart from competitors like Solana.

Price milestones and ecosystem developmentsLINK traded near $11.23 on September 1. By October 6, the price had climbed to around $13.96, based on closing data from Binance and Coinbase. This represents a gain of approximately 24.4% over the five-week period.

Chainlink’s price demonstrated significant volatility within the month. Early September saw the token spike above $13 before pulling back, touching an intraday low of $10.62 on September 16. Buyers soon regained control, with LINK rising past $12 on September 18, and ultimately exceeding $15 later that month.

September 28 marked the strongest single-day performance for LINK during the rally, closing up 10.15% around $15.45 and reaching a session high of $15.77. Measured against its September 1 close, LINK was up nearly 38% at this peak closing level.

LINK’s market action culminated in its biggest single-day gain on September 28, when the token jumped 10.15% to close at $15.45, only hours after new protocol announcements from the Chainlink ecosystem.

This period of strong price movement coincided with several ecosystem announcements. Notably, Chainlink launched CCIP 2.0 on September 28, a substantial upgrade to its cross-chain communication platform. CCIP 2.0 introduces new features such as additional verifier options, enhanced transaction speeds, variable fee structures, and built-in compliance tools via the Chainlink Automated Compliance Engine.

Mini dictionary: Chainlink CCIP 2.0 is an upgrade to the Cross-Chain Interoperability Protocol that enhances secure messaging and token transfers between blockchains. The version 2.0 release adds greater speed, flexibility, and regulatory compliance features for institutional users.

While LINK rallied 10% on the same day as the CCIP 2.0 announcement, analysts note that the upgrade alone cannot be definitively credited as the trigger for the token’s price jump.

OKX is moving beyond being a trading venue by bringing major financial infrastructure providers closer to its platform. This comes after the exchange platform partnered with Circle, Ripple, and Standard Chartered’s SC Ventures.

Although OKX’s $25 billion valuation remains unchanged, the new backing could strengthen how OKX connects crypto liquidity with traditional finance.

Each new partner is taking on a specific role to help OKX connect crypto with traditional finance more directly. In addition to providing liquidity from stablecoins, Circle can help facilitate the use of stablecoins as a medium of exchange.

Meanwhile, Ripple [XRP] enables greater connectivity of payments, while Standard Chartered’s SC Ventures connects OKX to banks and custodians.

Source: X Collectively, this partnership could simplify the process for institutions wishing to move between fiat, stablecoins, and digital assets via OKX. Therefore, the benefits of this relationship go beyond the influx of new capital.

OKX’s institutional reach may increase and potentially support its expansion into the tokenized market. However, since the amount of funding provided by these firms was not disclosed, there are limited short-term financial implications.

OKB rally follows $25B valuation Moments later, OKB’s price action advanced rapidly, clearly illustrating how institutional information can rapidly shift investor sentiment regarding markets.

After weeks of trading between $116 and $126.50, the funding announcement triggered a breakout as buyers rushed through the $126.96 resistance.

The price began advancing upward towards the old trading range ceiling, now potential support at $143.50. Nevertheless, the price began losing steam as some early buyers took their profit. Thus, the price retreated to around $133, where it was trading at press time.

Source: TradingView Although the momentum is easing, the decline does not indicate that the overall bull structure has been reversed. More importantly, $130 now determines whether the announcement-driven rally can extend.

A close above this level should allow OKB to attempt additional advances up towards $136 and ultimately back to $143.50. Conversely, a break below $130 could result in OKB retreating downward towards the previous trading range of $126.50.

OKX expands stablecoin infrastructure That institutional backing matters more if OKX can turn relationships into deeper stablecoin activity. Its stablecoin balances have climbed since 2023, rising from about $3 billion to more than $11.5 billion.

The level remains below the roughly $12.5 billion peak, yet it shows OKX has built a liquidity base. This growth gives the exchange more capacity to support trading, payments, and institutional settlement.

Source: DeFiLlama Moreover, consolidated USD and USD Coin [USDC] markets can reduce friction when users move between stablecoins and assets. Therefore, the key test is whether balances keep rising alongside transaction and payment activity.

Sustained growth would suggest OKX is building recurring financial infrastructure, rather than simply benefiting from capital movements.

Final Summary OKX partners with Circle, Ripple, and Standard Chartered as it strengthens its institutional reach. OKB needs stronger stablecoin activity to sustain its rally.

At 14:35 UTC on October 7, 2026, Babylon announced that HashKey Cloud would integrate its Trustless Bitcoin Vaults, or TBV, for institutional clients using Aave v4. The companies have not set a public launch date. Their joint announcement says further timing and partnership details will arrive in the coming months.

The planned service would let a HashKey client borrow against Bitcoin that remains on the Bitcoin network. Babylon says the design avoids wrapping the asset, sending it through a bridge or placing it with a centralized intermediary. Aave v4 supplies the lending market, while HashKey Cloud provides the institutional access and operational role described by the partners.

HashKey clients would be able to borrow stablecoins and other supported assets against that collateral. The announcement also says clients could deploy borrowed stablecoins into yield strategies. It does not name the strategies, borrowing limits, collateral parameters, fees or jurisdictions that HashKey will support.

How the collateral path works Babylon’s technical overview describes a five-stage process. A depositor first locks native Bitcoin in a dedicated unspent transaction output on the Bitcoin network. Participants construct and pre-sign a transaction graph while the deposit receives confirmations. That graph fixes the permitted paths by which the Bitcoin can later be spent.

After setup, a self-custodial BTCVault is activated on Ethereum. Aave v4 can then recognize the locked Bitcoin as collateral. The borrower takes a supported asset from Aave at a market-based variable rate. Babylon’s product page lists $USDC, $USDT and $WBTC as examples of assets that may be borrowed, though the HashKey announcement does not say which assets its service will expose.

Closing the position requires repayment of the outstanding debt and accrued interest before the user requests a withdrawal. The same overview says a position is liquidated only after it falls below the liquidation threshold and that partial liquidation is supported. The HashKey release does not provide the threshold or other market parameters, so clients cannot yet calculate a position’s liquidation buffer from the announcement.

A withdrawal then enters a challenge process on Bitcoin. If no valid challenge is raised, the Bitcoin returns to the address nominated by the user. Babylon says an Ethereum event authorizes redemption, a zero-knowledge proof demonstrates that the event occurred, and the challenge mechanism determines whether the claim may proceed. The process is designed to avoid approval from a custodian, wrapped-asset issuer or signer committee.

This architecture separates the location of the collateral from the location of the loan. The Bitcoin remains locked in a Bitcoin UTXO, while Ethereum and Aave account for the collateral and debt position. It also means the borrower depends on the vault transaction graph, proof system, oracle and Aave market operating as intended.

What changes for HashKey clients HashKey Cloud already provides staking and yield infrastructure under HashKey Holding Limited. The company says it has provided node validation services since 2018 across public chains and Layer 2 networks. The integration adds a proposed borrowing route to that institutional infrastructure.

Fisher Yu, a Babylon co-founder, said HashKey Cloud would take a “core operational role in TBV” and bring native Bitcoin credit to institutional clients in Asia. He also said the self-custodial design lets regulated institutions retain title to their Bitcoin while using it as collateral. Leo Li, CEO of HashKey OnChain, described the goal as turning native Bitcoin into an asset that can be borrowed against and then deploying the proceeds.

For a client, the practical change is the ability to seek stablecoin liquidity without first selling Bitcoin or converting it into a wrapped representation. That removes an issuer and redemption process from the route. It does not remove lending risk. Babylon’s own disclosure says users remain exposed to smart-contract and implementation risk, price-oracle risk, and the risk profile of the lending application they choose.

The cost is also not limited to Aave’s variable borrowing rate. Babylon says users may pay protocol, Vault Provider and network fees. Its product page displays estimated native Bitcoin borrowing rates between 3% and 5%, alongside estimates between 0% and 5% for on-chain borrowing and between 9% and 16% for centralized borrowing. The page warns that rates and fees are variable and may change. Those ranges are product-page estimates, not terms promised to HashKey clients.

The integration is not live yet Native Bitcoin-backed borrowing through TBV is available on a public Aave v4 testnet with test assets. The HashKey announcement describes a future integration and gives no production deployment date. It also leaves open which entity will act as Vault Provider, how HashKey will handle access controls, which Aave market will hold the debt, and what collateral and liquidation settings will apply.

Those missing terms matter to institutions comparing this route with custody-based loans or wrapped Bitcoin in existing lending markets. Self-custody changes one category of counterparty exposure, but the position still depends on code, proofs, market liquidity, oracle inputs and liquidation execution. Borrowers also need the complete fee schedule to compare the advertised structure with another loan.

A prospective borrower will need several parameters before using the service: the supported debt assets, the variable rate for each asset, the liquidation threshold, oracle design, Vault Provider fees and network costs. The published flow also makes repayment operationally important because a full withdrawal requires the outstanding debt and accrued interest to be repaid. If collateral crosses the liquidation threshold first, the system supports a partial liquidation instead.

The next stated milestone is the release of integration timing and partnership details in the coming months. Until then, the verifiable state is a planned HashKey service built around a live public testnet, not a production borrowing market for HashKey clients.

Stove equity tokens tied to U.S. and South Korean markets are now available through Uniswap Apps on Arbitrum. UniswapX provides an established execution layer instead of requiring Stove to build a separate trading venue. The structure keeps securities servicing separate from the tokens designed to circulate through DeFi. Liquidity outside exchange hours and corporate actions will be more revealing than the number of stocks listed. Uniswap has added Stove Finance equity tokens tied to U.S. and South Korean markets to its apps on Arbitrum, extending tokenized stocks into infrastructure already used for onchain trading, according to the official press release.

The initial rollout is powered by UniswapX, with additional markets expected to follow. Uniswap’s own documentation confirms that UniswapX is deployed on Arbitrum, including its reactor and quoting infrastructure.

The launch puts a familiar DeFi interface in front of a less familiar market structure. Stocks still depend on national exchanges, corporate actions and traditional securities infrastructure even when their blockchain representations can trade continuously.

For Stove, keeping those two environments synchronized is the central technical challenge.

Stove Separates the Stock From Its DeFi Trading Layer A tokenized equity cannot be managed exactly like a crypto-native asset. Dividends and stock splits originate in the traditional securities system, while an onchain representation may already have moved between wallets or decentralized applications.

Stove addresses the mismatch by separating securities servicing from the token format used in DeFi.

Its founder, Daniel Lau, described the model in a Sept. 30 submission to the U.S. Securities and Exchange Commission. The SEC’s public docket confirms Lau’s filing as part of the agency’s work on tokenized NMS stocks.

The architecture is easier to understand as a transaction path than as another layer of terminology:

From Stock Market to DeFi

One asset, two different infrastructure jobs

01

Underlying Equity

The security remains tied to its home market, trading rules and corporate actions.

02

Stove Securities Layer

Ownership records and events such as dividends or splits remain connected to the underlying position.

03

DeFi-Facing Token

The circulation layer gives the position a format that can interact with wallets and decentralized applications.

04

UniswapX on Arbitrum

The token reaches an established onchain execution network without changing the rules governing the security underneath.

The blockchain layer can remain active even when the exchange trading the underlying stock is closed.

The division is important because tokenization does not remove the obligations attached to an equity. It changes the infrastructure through which exposure can circulate.

UniswapX Changes the Distribution Model Many tokenized-stock projects have required investors to enter a dedicated platform before they can trade. Stove’s integration takes a different route by putting the products inside existing DeFi infrastructure.

UniswapX uses a competitive execution model in which fillers can compete to satisfy orders. On Arbitrum, Uniswap has deployed dedicated UniswapX reactor, quoter and Permit2 infrastructure.

Stove Finance U.S. and South Korean equity tokens have landed on @Arbitrum

Trade them on Uniswap Apps. Powered by UniswapX. https://t.co/ztFNvvtQyq

— Uniswap (@Uniswap) October 7, 2026

Its current trading documentation lists Arbitrum among the supported networks for both UniswapX V2 and V3.

When integrators use Uniswap’s default best-price routing, the system can consider UniswapX alongside conventional Uniswap Protocol liquidity rather than forcing every trade through a single route.

For Stove, that provides an execution network without turning the project into another isolated tokenized-stock exchange.

The practical question shifts from whether a stock can be tokenized to whether enough liquidity develops around the token for investors to trade it efficiently.

Market Hours Create the First Real Stress Test U.S. and South Korean equities bring an unavoidable timing problem to an always-on blockchain.

When their home exchanges are open, market makers have live prices for the underlying shares and more opportunities to hedge exposure or replenish inventory. Once those exchanges close, the token can continue trading while the underlying security cannot.

News released overnight can therefore move the onchain asset before its reference market reopens.

That creates a useful test for the integration. Tight spreads during traditional market hours would indicate that liquidity providers can keep the two markets closely aligned. Wider spreads outside those hours would show how much additional compensation traders demand when the underlying security cannot be immediately accessed.

This is also why tokenized equities cannot be judged simply by whether their blockchain price matches the previous closing price of a stock. During an off-hours event, the token itself may become one of the few active venues expressing a new valuation.

The important measurement is how efficiently that difference converges once the traditional market becomes available again.

Corporate Actions Are the Harder Infrastructure Problem Trading is only the first part of an equity’s life cycle.

A dividend has to reach the economically entitled holders. A stock split must change quantities correctly. Other issuer events can alter the security even when its blockchain representation has moved into another application.

The problem becomes more complicated when tokens sit inside liquidity infrastructure rather than individual wallets. The system has to preserve the economic treatment of the underlying stock while accounting for positions that may have changed hands onchain.

This is where Stove’s separation between securities servicing and DeFi circulation has to prove useful in practice.

The first meaningful dividend or stock split affecting an actively traded Stove token will therefore reveal more about the architecture than another batch of listings.

U.S. Equities Do Not Automatically Mean U.S. Investor Access The inclusion of American stocks also requires an important legal distinction.

A blockchain token linked to a U.S.-listed company is not automatically a product authorized for sale to investors in the United States. Stove has said in its SEC submission that its existing tokenized-stock products are not currently offered there.

Meanwhile, the SEC is actively examining how tokenized NMS stocks can operate on distributed-ledger infrastructure. Its public docket includes industry comments addressing trading venues, liquidity providers and the relationship between tokenized securities and existing market infrastructure. Stove’s Sept. 30 submission is one contribution to that process, not an SEC endorsement of the company or its products.

That boundary matters as interfaces increasingly make tokenized equities look similar to ordinary crypto assets. The user experience may converge even when the regulatory treatment does not.

What to Measure After Launch Listing count is unlikely to tell much about whether the Uniswap integration succeeds.

A better test will come from trading behavior across different market conditions. Spreads while the underlying exchange is open, spreads after it closes, available liquidity at different order sizes and the speed at which price differences converge after reopening can show whether onchain and traditional markets remain effectively connected.

Corporate actions provide a second benchmark. Dividends and splits will test whether the securities layer continues to function correctly after tokens have entered DeFi circulation.

Those data need live trading history, and there is not yet enough verified evidence to claim that Stove has solved either problem.

The immediate milestone is therefore operational rather than promotional: how the first U.S. and South Korean equity tokens behave when their underlying exchanges are closed, liquidity is tested and a corporate event has to travel from a conventional stock market into an onchain position.

Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.

Full Profile

Bringing India's Grain Economy OnchainIndia's agritech firm Arya.ag and fintech infrastructure company Finternet are working together to bring more than $2 billion in grain reserves onto the @Avax blockchain. The initiative, announced in September 2026 at the Global Fintech Festival in Mumbai by Infosys co-founder Nandan Nilekani, targets one of the most persistent inefficiencies in Indian agriculture: slow, fragmented, and paper-heavy credit markets.

Arya.ag is one of India's largest agri-logistics and warehousing operators, currently managing over $2 billion in grain inventory across more than 12,000 warehouses nationwide. The company supports approximately $1.26 billion in loans annually, while its lending arm, Arya Dhan, issues around $230 million in loans each year.

Arya.ag is testing a system to tokenize warehouse receipts for stored grain on a dedicated Avalanche layer-1 blockchain. Finternet aggregates multiple types of data, covering the farmer, commodity, warehouse, and insurance details, into what its director Sanmesh Kalyanpur describes as a "composite token" that banks can use to assess collateral risk. Devika Mittal, Ava Labs' head of India, confirmed that testing is underway and that each tokenized receipt represents ownership of the stored commodity.

Tackling Fraud and Credit Delays for Farmers When a farmer stores grain in a warehouse, they can borrow against it instead of selling immediately, but the records showing what is stored, whether it is already pledged as collateral, and how much is owed often sit in separate systems, making it slower for lenders to confirm details before approving a loan. The Avalanche-based infrastructure addresses this directly.

The shared records are designed to help banks verify that grain used as loan collateral exists and has not been pledged elsewhere. The project includes institutional lenders such as Singularity Credit and Aryadhan, using grain inventory as collateral. Ava Labs' Devika Mittal noted the dedicated L1 is run by Arya and will scale to support other warehouse companies, adding that three major banks are already joining the network.

Arya.ag is setting up its own dedicated layer-1 blockchain built using Avalanche technology, and plans to open it to other warehouse companies in the future. The Finternet concept itself traces back to a 2024 paper by the Bank for International Settlements, co-authored by Nandan Nilekani and then-BIS General Manager Agustín Carstens, proposing an interconnected unified ledger for tokenized assets. No formal launch date or initial deployment scale has been disclosed.

Sources
Cointelegraph: Arya.ag Tests Tokenized Grain Ownership Records on Avalanche
CoinDesk: Indian Agri Warehouse Giant Is Putting $2 Billion in Grain-Backed Loans Onchain
Crypto.news: Arya.ag Puts India's $2B Grain Network Onchain

Cardano’s booth at TOKEN2049 did not feature its biggest and most popular project, Midnight. The privacy-focused blockchain is a major part of the Cardano ecosystem, yet it wasn’t featured anywhere in the branding. 

Charles Hoskinson has publicly criticized this and called it a result of governance politics at the project. 

The timing made the omission harder to ignore. Hours earlier, Midnight announced plans to support Solana wallets.

Cardano’s Biggest Project Is MissingHoskinson walked viewers through the Cardano display at TOKEN2049, which featured projects from across the ecosystem. Even SNEK, the Cardano meme coin, made the wall.

Midnight did not. This is odd because Midnight is Cardano’s largest project and NIGHT already trades on Binance as a Cardano native token.

He also suggested the Cardano Foundation helped decide what appeared on the booth, joking that Midnight may simply be so private that it refused to reveal itself.

The dispute quickly became more serious.

“The booth is a public asset for Cardano. It was funded by the Cardano community.”

— Charles Hoskinson

That matters because Cardano’s treasury is ultimately funded and governed through ADA holders and their delegates.

Midnight Finds a Warmer Welcome on SolanaThe booth dispute also exposes a broader political divide inside Cardano.

Hoskinson has repeatedly clashed with the Cardano Foundation over governance and the direction of the ecosystem. That tension resurfaced in June when a crypto fund founder called for Hoskinson’s removal, triggering a fierce community debate.

Meanwhile, Midnight is widening its reach.

At a recent Solana Summit, the team said Solana users would eventually be able to make private swaps without installing separate software.

Hoskinson publicly welcomed the move in a quote post. 

The irony is difficult to miss. A project built inside the Cardano ecosystem is now being welcomed by Solana while its own logo is missing from Cardano’s biggest conference booth.

Strike wants your Bitcoin to have a filing system.

On October 7, 2026, the Bitcoin-focused financial app founded by Jack Mallers launched Stacks. The feature lets users divide their Bitcoin holdings into up to five named buckets inside a single account.

It works like the old envelope method for household budgeting. Rent money goes in one envelope, vacation money in another, and nobody accidentally spends the mortgage on concert tickets. Strike’s version does the same thing, except every envelope holds Bitcoin.

How Stacks actually works Users can create as many as five stacks, each with its own name. The idea is goal-based saving, so one stack might be earmarked for a house down payment while another sits as a long-term reserve.

Moving Bitcoin between stacks costs nothing. Transfers between stacks and the main balance carry no fees and no limits.

There is one rule worth knowing. If you want to send Bitcoin outside of Strike, it has to travel back to the main balance first.

Each stack can also run its own recurring purchase plan, with no fee attached. This is dollar-cost averaging, usually shortened to DCA.

Advertisement

For the uninitiated, DCA means buying a fixed dollar amount on a regular schedule, regardless of price. Instead of trying to time the market, you buy a little every week or month and let the averages work themselves out.

Strike already offered recurring buys before this launch. Stacks extends that by letting users attach a distinct plan, with its own savings goal and cycle, to each bucket.

So the house fund could get a weekly buy while the retirement stack gets a monthly one. Each bucket runs on its own schedule.

Cash balances stay separate from all of this. The stacks hold Bitcoin, while USD sits in its own lane.

The feature is available for both personal and business accounts. Strike says it covers every jurisdiction where the company operates.

A second launch on the same day Stacks did not arrive alone. Strike paired the announcement with a new product called Bitcoin Interest on Cash.

That offering provides a 3.6% yield on USD balances, with the yield converted to Bitcoin. In other words, your dollars earn a return, and that return shows up as Bitcoin rather than more dollars.

Both launches live entirely inside Strike’s own ecosystem. No third-party protocols or tokens are involved.

The custody picture Stacks operates within Strike’s custodial setup. That means Strike holds the Bitcoin on users’ behalf, rather than users controlling their own private keys.

According to the company, the holdings stay in multi-signature cold storage. Multi-signature means several separate keys are required to authorize a transaction, so no single compromised key can move funds. Cold storage means those keys are kept offline, away from internet-connected systems that attackers typically target.

What this means for Strike and its users There are limits worth keeping in mind. Five stacks is a cap, so users with elaborate savings plans will need to consolidate goals.

The requirement to route outgoing Bitcoin through the main balance adds a step for anyone withdrawing to a personal wallet.

The research behind this launch frames it as likely positive for both retail and institutional users looking for Bitcoin management tools. The argument is that structured savings features could improve user retention and could draw in customers who want more organized strategies.

The business account angle deserves attention too. Companies holding Bitcoin often need to separate funds by purpose, such as operating reserves versus long-term treasury, and Stacks gives them a built-in way to do that.

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

Raydium Edges Past PumpFun in 24-Hour Volume@Raydium has overtaken @Pumpfun in 24-hour decentralized trading volume, posting $192.2 million against PumpFun's $185.0 million. The gap is narrow, but the milestone carries weight given the fierce rivalry that has defined the Solana DEX landscape over the past year.

The volume lift pushed Raydium up one spot in global decentralized exchange rankings, from ninth to eighth place. For a protocol that has spent much of 2026 fighting to reclaim ground lost to PumpFun's own trading infrastructure, the move is a tangible sign of momentum.

Context: A Long-Running Battle on SolanaThe two protocols have been locked in a competitive back-and-forth since early 2025, when PumpFun launched PumpSwap, its own native automated market maker, cutting Raydium out of the token graduation pipeline it had previously relied on, where tokens completing their bonding curve on PumpFun migrated directly to liquidity pools on Raydium.

Raydium responded by launching LaunchLab, its own token launchpad. Cumulative trading volume on Raydium passed $1 trillion in May 2026, the same month its RAY token was listed by both Robinhood and Revolut. More recently, Raydium accounted for $805.2 million, or 80.5%, of the trading volume from xStocks-issued assets over a 30-day period , pointing to a broadening user base beyond memecoins.

Raydium is a Solana automated market maker where users can swap SPL tokens, supply liquidity, mint new coins, or take leveraged positions, and its pools hold close to $806 million in deposits, more than any other decentralized exchange on Solana.

Wednesday's 24-hour volume reading marks a fresh data point in a rivalry that shows little sign of cooling. Whether Raydium can sustain the edge over PumpFun, or extend its climb up the global DEX rankings, will depend on how both platforms compete for Solana's memecoin and broader DeFi trading flow in the weeks ahead.

Sources:
DefiLlama: Raydium Protocol Data
The Defiant: PumpSwap Surpasses Raydium
Datawallet: Raydium Explained 2026

xStocks are now available on Arbitrum through the Enso API and Enso RWA App, expanding access to tokenized equities across one of Ethereum’s largest Layer 2 ecosystems.

Users can trade xStocks directly through the Enso RWA App, while wallets, fintechs, trading platforms, and other applications can integrate the Enso API for access.

Tokenized stocks on ArbitrumxStocks bring tokenized representations of traditional equities onchain, giving eligible users access to assets such as major US stocks and ETFs through blockchain infrastructure.

With support now live on Arbitrum, users can access these assets alongside the broader DeFi ecosystem on the network.

For applications already integrated with Enso, adding xStocks on Arbitrum does not require building a new routing or aggregation stack. Enso provides a single API for swaps, cross-chain routing, DeFi actions, and RWA execution across supported networks.

An RWA aggregator for tokenized equitiesAs more real-world assets move onchain, distribution becomes increasingly important.

Tokenized assets need more than issuance. They need liquidity, routing, reliable execution, and integrations with the wallets and applications where users already transact.

Enso acts as an RWA aggregator and execution infrastructure for tokenized assets, allowing applications to access xStocks and other RWAs through one integration.

Instead of integrating individual liquidity venues, chains, and asset providers separately, product teams can use Enso to find and execute routes across available onchain liquidity.

Access xStocks through the Enso API or RWA AppDevelopers can integrate xStocks on Arbitrum through the Enso API, while users can access supported tokenized equities directly through the Enso RWA App.

As new assets and networks are added, existing Enso partners can extend their RWA offering without rebuilding their integration.

Explore xStocks on Arbitrum through Enso.

LinksExplore EnsoStart buildingFollow us on XJoin the community

Paxos’s Global Dollar stablecoin, USDG, just had a busy day on Arbitrum One. Its market cap on the network rose by $10.2 million over the past 24 hours to reach $31.2 million.

That works out to roughly 49% growth in a single day.

Paxos launched USDG natively on Arbitrum One on October 6, 2026. Rather than showing up to an empty room, the token arrived with integrations across several decentralized finance protocols from the start.

The lineup covers the main DeFi use cases. Fluid handles trading, Morpho supports lending, GMX accepts deposits, and Maple offers yield products built around the token.

Advertisement

Native issuance also matters here. A natively issued stablecoin is minted directly on the chain by the issuer, rather than wrapped and shipped over from another network through a bridge.

The Arbitrum rollout is part of the Global Dollar Network, or GDN, the partner framework Paxos uses to expand USDG’s presence and utility across platforms.

Small slice of a much bigger token For context, the $31.2 million on Arbitrum is a sliver of USDG’s overall footprint. Total circulating supply for the stablecoin now exceeds $3.2 billion, which places it as the seventh-largest stablecoin by market capitalization.

Until now, USDG’s supply has been concentrated on other networks, including X Layer, Robinhood Chain, and Solana. Arbitrum adds an Ethereum Layer 2 to that mix.

Arbitrum already has an estimated $4 billion in stablecoins on its network. Against that pool, USDG’s $31.2 million is still under 1% of the existing stablecoin base.

The regulated dollar pitch, plus a revenue twist USDG operates under strict regulatory oversight. Each token is backed 1:1 by US dollar reserves, and monthly attestations are published to confirm that backing.

Through the GDN, revenue generated from reserve yields is shared with distribution partners instead of being kept entirely by Paxos. The platforms that bring USDG to users can share in that income, which gives them a direct reason to push adoption.

For Arbitrum, that arrangement positions the ecosystem to take a cut of GDN revenue tied to activity from its user base.

ArbitrumDAO weighs a 100 million ARB incentive There’s also a governance angle. An ArbitrumDAO proposal seeks to allocate 100 million ARB tokens to incentivize USDG liquidity and adoption on the network.

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

Table of contents

Ether.fi is moving its core payments infrastructure onto MoonPay’s integrated stack, the two companies said on October 6, as the crypto neobank works to make a self-custodial wallet feel as simple as a mainstream banking app. The move folds on-ramps and off-ramps, cross-chain trading, virtual accounts, and crypto deposits into a single experience, according to the joint announcement.

Ether.fi, which reports more than $6 billion in assets under management across its Cash, Stake, and Liquid products, will replace payments functions it previously sourced from separate vendors. The shift builds on the neobank upgrade ether.fi rolled out earlier this year. Users complete identity verification once, and that check carries across the card, account, and on-ramp instead of restarting for each product.

Four MoonPay Products Inside the App MoonPay Headless Ramps embed on- and off-ramp flows directly in the app, so users can fund an account in one tap without redirects to a third party. MoonPay Trade handles cross-chain routing for in-app conversions. MoonPay Enterprise assigns each user a virtual account with account and routing numbers, supporting ACH, Fedwire, SWIFT, Faster Payments, SEPA, and Open Banking so paychecks and transfers can settle in seconds. MoonPay Crypto Deposits lets users move assets in from external wallets or exchanges, with the token swapped into their balance. The four products extend MoonPay’s broader expansion into payments across blockchains such as Solana.

Card Spending Grows Faster Than the Market The integration lands as ether.fi’s spending product grows without tracking crypto prices. The company cited Paymentscan data showing its card users spent $123.7 million in September 2026 across 1.5 million transactions and 48,162 active addresses, up from $24.1 million a year earlier. Since the card’s April 2025 launch, it has processed $918.1 million across 11.6 million transactions, the release said. Ether.fi attributed the growth to everyday spending rather than trading, which it argues insulates volume from market swings.

Self-Custody at the Core Unlike a traditional neobank, ether.fi does not take custody of user funds: keys stay with the user, and the company says it cannot move or seize wallet assets. Combined with MoonPay’s licensed fiat rails, that design is the basis for the firms’ claim that they can reach more markets without bank licensing in each one. The four MoonPay products will roll out across ether.fi over the coming months, with no immediate date given for full availability.

AUTHOR

Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

Mantle [MNT] is under strong bearish pressure. The altcoin lost its $0.6 support and fell to a low of $0.54, nearly erasing all recent gains.

As of this writing, Mantle was trading around $0.58 after plunging 11.4% on the daily charts. Over the same timeframe, the altcoin’s Spot trading volume surged 89% to $48 million, reflecting higher sell-side activity.

Why did Mantle decline? AMBCrypto’s analysis observed that Mantle’s weakness arose from the derivatives market. According to CoinGlass data, the altcoin’s Open Interest (OI) plunged 14% to $50 million, while Derivatives Volume rose 210% to $39 million.

Source: CoinGlass When OI falls, it signals reduced leveraged exposure. The falling OI alongside rising volume suggested that the market experienced position unwinding.

A look at Futures flow and Perpetuals Volume confirms this sentiment. According to Coinalyze data, Mantle’s Perpetuals Sell Volume on Bybit rose to $4.2 million, compared to $3.2 million in Buy Volume.

Source: Coinalyze On the Futures side across tracked exchanges, Mantle saw $14.7 million in outflows compared to $10.7 million in inflows. As a result, the altcoin’s Futures netflow plummeted 1225% to 4 million, a clear sign of aggressive market exit.

Source: CoinGlass Historically, massive sell-side activity in derivatives has led to short-term market shocks and price drops.

Spot demand offers much-needed relief Interestingly, while traders in the derivatives market panicked, Spot sentiment remained unchanged.

A look at Spot netflow shows that this metric has remained negative for two weeks, suggesting exchange outflows have consistently outpaced inflows.

Source: Coinalyze Over the past 24 hours, Spot netflow dropped to -$928K, with more than $10 million flowing out of exchanges. With buyers holding steady in the spot market, they offer Mantle much-needed relief by absorbing the rising pressure.

Can MNT stand firm? Mantle’s downside momentum has strengthened extensively. Looking at the Relative Strength Index (RSI), the metric fell to 41, dipping into deep bearish territory.

RSI declined for six consecutive days following a bearish crossover. At these levels, RSI implied that bears are stronger and have significantly displaced bulls.

Source: TradingView Such a structural setup has often preceded further weakness and more losses on the charts. Thus, if sellers continue to exert pressure, Mantle could fall to $0.54 again and likely revisit the $0.50 support level.

With bulls still active in the Spot market, they could, however, help invalidate this bearish outlook. If demand in the spot market holds, we could see MNT reclaim $0.6 and push for a daily close above $0.63.

Final Summary MNT plunged 11%, losing $0.6 support, hitting a low of $0.54 before slightly rising to $0.58.  Mantle declined amid a broader market sell-off as panic exits in the derivatives caused intense selling pressure. 

Singapore has already decided that AI runs on trusted access to people's data. At the Tanglin Club, hosted by the MIT Club of Singapore, the question from senior business leaders and government officials was how.

Singapore's refreshed National AI Strategy makes one of its ten priorities to unlock datasets, underpinned by strong data governance. The strategy says the challenge is no longer making more data available, but giving the right people trusted access to the right data, with safeguards, for the four national AI Missions in manufacturing, financial services, connectivity and healthcare. Parliament has already gone further. The Personal Data Protection Act carries a data portability obligation: a person can ask an organisation to send their data straight to another, in a form the receiving organisation can read. The right exists in law. The method is what the country is working out.

Vana is the open network where personal data moves with the permission of the person it belongs to, and a record of every move. Vana wrote the standard for how personal data moves, now hosted by the Linux Foundation Decentralized Trust.

We sat down with the MIT Club of Singapore at the Tanglin Club, with senior business leaders and government officials around one table. The conversation kept returning to three things.

Keeping data under Singapore's jurisdiction while letting it move A country's data is most useful when it stays under its own laws and its citizens' consent, and can still go where it is needed. On Vana a person grants a specific use of their data, for a specific purpose, for a specific time. The grant is recorded and can be revoked. The data moves without leaving the protections the country has set. That is AI a country runs on its own terms rather than on whichever platform holds its people's context.

Opening the market to new players When data is trapped where it was created, only the incumbent can build on it. When people can move their data, anyone can compete to serve them better. Singapore's economy is built on being open to new players. Its data infrastructure should be too.

Fitting with the identity infrastructure Singapore already has Singapore has some of the most advanced digital identity infrastructure in the world. Identity says who you are. Vana says what you permit. Together they let a person carry their data into any service they choose, and take it back when they want.

Where Vana fits The standard Vana wrote does what Singapore's portability obligation asks for: a person's data goes from one organisation to another, with their permission, in a form the receiver can use, with a record of what was agreed. Because the standard is open and owned by no single company, a regulator can point to it and a company can build against it. Governments are already scoping national implementations. The Vana network is where that data moves today: more than 100 apps built by its community, 1.5 million users and more than 20 million transactions.

Singapore is investing more than S$1 billion in public AI research through 2030. That investment pays off fastest where AI can draw on real context from real people, moved with their permission, on infrastructure the country controls. We look forward to continuing to work with sovereign governments and with organisations like the MIT Club of Singapore to lead the way data moves in an AI world.

Bitcoin hovered close to $84,300 after a brief dip to approximately $83,680, based on LSEG figures cited by Barron’s. The latest pullback marks another unsuccessful attempt by the cryptocurrency to surpass the $87,000 resistance level that has restricted price advances since late September.

Exchange flows signal shifting dynamicsAccording to data from CryptoQuant, seven-day Bitcoin inflows to Binance dropped to 32,642 BTC as of October 5. This reading falls within the 11th percentile of the past year, signaling notably low deposit activity on the world’s largest crypto exchange by volume.

Binance also saw its seven-day Exchange Whale Ratio climb to 0.515, reaching its highest point since August. This ratio tracks the proportion of total exchange inflows coming from the ten largest deposits, providing insights into large-holder activity.

A heightened whale ratio can suggest large holders are taking a more active role on exchanges, which may increase available sell-side liquidity. However, since overall deposits are unusually low, whales make up a larger share of inflows even if their absolute transfer volumes remain steady.

CryptoQuant, a leading blockchain analytics platform, advised caution in interpreting the elevated whale ratio as a direct sell-off signal given the subdued total volume.

Mini dictionary: Exchange Whale Ratio – a metric showing the amount of cryptocurrency deposited by the top ten largest entities relative to all exchange inflows. A higher ratio can indicate growing influence of large holders on short-term price dynamics.

Spot and futures market updateGlassnode’s latest market pulse noted that Bitcoin’s spot Cumulative Volume Delta (CVD) reversed from negative $102.8 million to positive $33.2 million in the past week. This transition points to renewed aggressive spot buying activity, suggesting that buyers are regaining control after recent weakness.

In derivatives, futures open interest declined from $38 billion to $36.6 billion, which indicates a reduction in leverage following September’s rally. This easing of position sizes may help stabilize the market after recent volatility.

DateBTC Spot CVDFutures Open InterestPrevious Week– $102.8 million$38 billionLatest+ $33.2 million$36.6 billionIn another sign of renewed institutional interest, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of $118.8 million on October 6. This recovery follows an $89.8 million withdrawal reported the previous trading session.

BlackRock’s iShares Bitcoin Trust (IBIT) captured nearly all of the new investments, reinforcing its status as a primary avenue for institutional Bitcoin exposure. The inflows contributed to a strong third quarter for U.S.-listed spot Bitcoin ETFs, which collectively attracted $6.34 billion over the period.

Glassnode’s analysis indicates that spot market momentum has returned, while leveraged positioning in futures has moderated after the recent rally. At the same time, leading ETFs like BlackRock’s IBIT continue to see strong demand from investors.

Bitwise has expanded its XRP exposure again as institutional investors appear to have shown renewed interest during the last ETF trading session.

After a few days of staying silent, recent market data shows that Bitwise has bought more XRP than it has done so far this month, even though the market is currently volatile.

Bitwise attracts more capital Although XRP has failed to sustain the uptrend seen during the weekend, institutional investors remain convinced about its future price potential.

HOT Stories

As such, they have continued to expand their XRP exposure through Bitwise, as data shows that Bitwise has bought over $10.55 million worth of XRP.

You Might Also Like

The purchase came after Bitwise attracted fresh capital into the XRP ETF market, representing the sole capital contributor among all XRP ETFs, as major funds like Franklin Templeton and Canary Capital only recorded withdrawals for the day.

Notably, the move represents the largest XRP purchase Bitwise has made since October began, as it had only recorded little to no inflows in the past few days.

XRP turns bearish While the size of the recent XRP purchase from Bitwise is not entirely significant, the timing of the transaction has made it most noticeable, as it suggests that investors may be buying XRP's dip.

Despite trading above $1.50 earlier this week, XRP has suddenly reversed to a deeper price level in the last day, dropping to around $1.43 earlier today.

The subtle XRP ETF demand through Bitwise marks a major divergence from its current price movement, sparking curiosity about XRP's price potential for the rest of the month.

Bitwise Chief Investment Officer Matt Hougan has argued that XRP’s pull with certain institutional investors, especially financial advisors, rests on two plain considerations: confidence that the asset will still exist years from now, and a set of uses those advisors already recognize.

The comments appear in a video Token Relations posted on September 28, 2026, alongside a note that net assets in US XRP exchange-traded funds had climbed 80 percent through the third quarter to a record $1.77 billion. Hougan said the token “appeals for very simple reasons.”

The first, he explained, is that advisors are confident it is not going away.

Many professionals looking at crypto still ask whether the assets are genuine, whether they will last, and whether they will be around in the future. In his account, XRP’s long operating record and substantial background answer that doubt in a way newer tokens often cannot.

That distinction matters for portfolio construction. An advisor placing client money does not only weigh expected return.

The advisor also has to judge whether the holding is likely to remain a functioning market years later, when the account is reviewed, rebalanced, or passed on.

Hougan framed XRP’s history as the feature that reduces that particular uncertainty.

Belief that an asset will persist is not the same claim as a forecast that its price will rise, and his remarks did not treat price appreciation as the reason advisors are buying.

The second reason is practical familiarity. Hougan said XRP fits real-world applications advisors can already explain.

They follow stablecoins.

They follow cross-currency transfers and the liquidity required to complete those transfers.

They also follow industry news and can assess what developments in that space might mean for the broader XRP community.

Those are subjects already present in conventional market coverage, so the investment case can be discussed in language closer to payments, foreign exchange, and market plumbing than to a purely speculative token story.

XRP ETFs net assets have grown 80% throughout Q3 to an all-time high of $1.77B.@Matt_Hougan, Chief Investment Officer at @Bitwise, on what's driving institutional demand for $XRP:

"XRP appeals for very simple reasons … One is that [financial advisors] are confident it's not… pic.twitter.com/7YXqVPpOj2

— Token Relations (@TokenRelations) September 28, 2026

That framing helps explain why regulated products have become a visible channel even when short-term price action is not the main argument.

Exchange-listed funds let advisors gain exposure through brokerage accounts they already use, without building direct custody for every client.

The third-quarter jump in ETF net assets to $1.77 billion is the backdrop Token Relations used when it published the clip.

Later flow data showed that asset totals and new subscriptions can diverge once the underlying price moves, which is consistent with Hougan’s separation of durability from price performance.

Cumulative inflows across the US spot products remained large after the September 25 peak, while mark-to-market asset values eased as XRP’s market price changed.

Hougan’s firm is itself an issuer in that market.

The Bitwise XRP ETF trades on NYSE Arca and charges a 0.34 percent annual expense ratio.

Updated fund materials around the end of September kept the offering current as shares continued to be issued.

Other sponsors, including Franklin, have also gathered substantial cumulative inflows, so the advisor channel is not limited to a single product.

The remarks describe a narrow form of institutional interest.

It is not a claim that every institution is allocating, or that XRP has displaced bitcoin as the default crypto holding.

It is an account of why some advisors, once they have an exchange-listed vehicle, find XRP easier to underwrite: a long record that speaks to permanence, and applications in stablecoins, cross-currency transfer, and liquidity that they already monitor.

The ratio of the circulating XRP supply in profit has surged back above 57%, reaching highs last recorded in January 2026.

This comes as XRP’s price continues to hold above the crucial $1.40 level following the rally witnessed in August and September. For context, after dropping to $0.98 in mid-August, XRP embarked on a rebound campaign, closing August around $1.379, a 30% gain that month.

The uptrend spilled into September, and despite facing periodic roadblocks and selling pressure toward the end of the month, XRP also closed September with another gain, up nearly 8% for the month. While October has introduced a pullback, the August and September gains have already made much of XRP’s supply profitable.

XRP Supply in Profit Rises According to on-chain data provided by market research firm Glassnode, the ratio of the circulating XRP supply in profit has risen to 57.172% as of the time of this press. 

XRP Supply in Profit | Source: Glassnode For the uninitiated, this metric measures the percentage of an asset’s circulating supply that is currently in profit. Essentially, it looks out for those XRP coins that investors last moved at prices lower than the current XRP price. It assumes these coin movements refer to purchases.

The latest reading indicates that 57.172% of XRP’s circulating supply was last moved at prices lower than $1.51. For context, XRP currently boasts a circulating supply of 68.4 billion tokens. This indicates that about 39.12 billion XRP is now in profit.

This is an impressive rise from the 37.27% rate recorded on Aug. 16, when the XRP price stood at $0.99. At this rate, only about 25.5 billion XRP tokens were profitable, leaving nearly 43 billion XRP in loss at the time. Now, there are only 29.2 billion XRP tokens in loss, a 42.8% share.

A 9-Month Peak Notably, the recent top in profitable supply represents highs last recorded nine months ago, in January 2026, when prices stood around $2. 

As the market-wide downtrend persisted into this year, XRP faced intense selling pressure that resulted in a considerable drop in the percentage of supply in profit. Specifically, on Jan. 5, XRP saw 77.25% in profit as the price rose to $2.4. 

However, this figure dropped to 60% two weeks later alongside a decline in prices to $2.06 by Jan. 17. When XRP slumped further to $1.99 the next day, the percent of supply in profit also dropped to 56.27%. Since then, the metric has continued to decline, slipping below 50% by the end of January.

For three months, the percent of XRP supply in profit remained under 50% despite not recording steeper declines. This bearish trend persisted as the XRP price stayed below $1.50. 

The metric finally recovered above 50% as XRP’s price hit $1.47 in May. However, this uptrend did not last, leading to a drop toward the 37% low in August, right before XRP’s price recovery resulted in the latest push back above 50%.