Track market-moving stories before they get noisy

U.S. President Donald Trump has promised to give every American $5,000 if the Republicans win both chambers of the Congress in upcoming midterm elections.

From an economic perspective, this injection of cash into the economy could be yet another catalyst for a rise in the value of risky assets.

According to the head of DWF Labs, however, the impact could be much bigger. As the post below illustrates, the proposed payout would be roughly 150% of the COVID-19 stimulus checks.

If even a slice of that liquidity finds its way into crypto, it could ramp up speculative demand and potentially catalyze another 2020-21-style risk-on cycle.

Source: X However, to see if history could repeat, it is worth looking at what happened during the 2020/21 cycle.

In December 2020, Bitcoin [BTC] climbed past its previous $20k high and then more than doubled to around the $42k level by January 2021.

This was driven by increased institutional demand, as firms such as MicroStrategy and Square acquired BTC while PayPal and others offered crypto services. In the first half of 2021, BTC climbed above $60k before eventually reaching nearly $69k in November.

Thus, if another wave of cash hits consumers and even a small part of it goes into risk assets, it could lead to a liquidity-driven demand wave.

The main difference this time is that institutional participation is much deeper, so fresh liquidity can have a bigger impact on Bitcoin’s upside if the overall risk-on setup stays intact.

Is Bitcoin’s rising demand really strategic positioning? Smart money accumulating Bitcoin at these levels can hardly be accidental.

Michael Saylor has once again sent out an “orange flag,” which usually serves as the first indication of a new BTC purchase. Besides, Wall Street isn’t backing off either.

BlackRock’s IBIT just added another $195.6 million in BTC, pushing its net accumulation to around $1.57 billion over the last month alone.

Meanwhile, the Fed is scheduled to inject $5.8 billion into the markets next week. Bitcoin has held above $80k for two consecutive weeks as buyers jump in at key support levels.

These are positive signs of strong institutional demand, as big players appear to be accumulating BTC during the consolidation phase.

Source: TradingView In short, this adds to the case that institutional participation in Bitcoin is far stronger than it was in 2020.

Back then, the initial COVID-19 stimulus provided eligible Americans with $1,200 per adult plus $500 per child and a further $600 per adult in late December. This served as a direct cash injection and a highly liquid risk-on environment for Bitcoin in its 2020-21 bull cycle.

Now, the proposed $5,000 payment per American suggested by the U.S. President Donald Trump would far exceed 2020 levels of infusion. So, if even a fraction of that liquidity flows into Bitcoin and other risk assets, it could become another demand catalyst to an already institutionally driven market.

Final Summary Institutions are still buying Bitcoin, keeping demand strong. Trump’s proposed $5k stimulus could bring fresh money into BTC and other risky assets.

Ripple [XRP] and XRP Ledger have been two sides of a coin for the longest time. Is that about to change?

Ripple wants XRP to fund payments At XRP Seoul 2026 on 3rd October, Ripple President Monica Long discussed moving customer transaction volume directly onto XRPL. She went on to add that the company wants to expand a payment pilot that runs through the ledger’s DEX. They’d also link the payments business with the lending plumbing being built on XRPL.

The lending part of it all is very important here.

Ripple already has credit pilots in motion, and the proposal is for XRP to be in lending pools that could fund Ripple’s payment customers. With this, the native token would actually be a source of income for the businesses. That’s a very different job from just shuttling money between banks.

Could it move the token’s price? Yes, but also…no.

A very busy ledger and a more valuable token aren’t the same thing, and XRP holders need the second.

Can any of this help XRP? So far, the market isn’t paying for the plan.

At the time of writing, XRP was trading at $1.49; down 1.7% in 24 hours. The token has spent two weeks between $1.47 and $1.55 since going up near $1.65 in late September.

Source: TradingView Pace wasn’t that great either. RSI was near-neutral at 55. Chaikin Money Flow was back at zero after most of September in the red. That implied that while the sellers have been shaken off, the buyers haven’t showed up either.

The derivatives side of things also looked similar.

Source: Coinalyze Open interest (OI) was flat at about $1.45 billion, and funding was back to a mild 0.0079%. This, after a brief negative turn a few days prior.

If Ripple actually turns XRP into loan capital for payment businesses, that could change.

Final Summary Ripple wants to move customer payment volume onto the XRP Ledger in 2027. The native token’s mild reaction proves that traders don’t care enough right now.

The XRP Ledger (XRPL) continues its journey toward the deployment of programmable escrow features as developers just deployed the ninth release of the Smart Escrow Devnet.

Mayukha Vadari, a senior software engineer at RippleX and one of the authors of the Smart Escrows proposal, said it's a "big step toward launch." She added that they are still in the process of reviewing and testing the Smart Escrows framework before the release.

"Programmability on the XRPL keeps moving," said Vadari.

HOT Stories

Those who are trying out the Smart Escrow tech would need to update their configurations for the new Devnet.

Big tech overhaulThe ninth release includes a lot of under-the-hood changes. One of the key changes in this release is the full migration of the WebAssembly virtual machine integration from C++ to Rust.

Vadari said this new architecture brings a single point of entry for gas accounting, error handling, and checks. Moreover, this migration improved performance by 30%–50% for every host function call.

You Might Also Like

In addition, the developers also updated the names of host functions, fields in the ledger, result codes for the transaction engine, and the entry point for execution with production-ready names.

Smart Escrow explainedThe standard XRPL escrows allow users to lock funds for a certain period of time or wait until some cryptographic condition is met. With Smart Escrow, you can add a small WebAssembly program to the escrow itself.

This program can decide whether to allow the escrow to complete. This gives the opportunity to have much more complex release conditions.

As described in the XLS-100 proposal, Smart Escrows is the initial layer of programmability for the XRP Ledger. Possible use cases for Smart Escrows could include approvals from a notary, holding for compliance reasons, real estate deals, auctions, and other conditional peer-to-peer arrangements.

In theory, the assets can only be released from the escrow if some approval is entered, if some compliance check is fulfilled, or if some external information is provided via an oracle that satisfies certain criteria.

Dogecoin [DOGE] is a joke that keeps paying out.

Its recent rise isn’t down to one tweet or one lucky day though. In fact, a few things have lined up at once lately.

All green on the ETF front! In the last three weeks, Dogecoin ETFs have seen about $3.5 million.

The first of those weeks (ending 18th September) brought in about $284,500. The week after that, inflows skyrocketed to $2.8 million!

The latest week had about $327,360 in inflows.

Source: SoSoValue In all honesty, this isn’t huge by Bitcoin ETF standards. However, if you put it into context, things would make sense. DOGE ETFs held at only around $12 million in assets in mid-September. That number, at press time, was at $16.2 million!

For a memecoin-based product like a DOGE ETF, three steady weeks might constitute a definite change in mood. That’s not all though.

AMBCrypto previously reported that the DogeOS public testnet went live for developers on 30th September. Thanks to the same, payments, trading, lending, and games that run on DOGE can be tested now!

However, there’s a catch.

Fees on the testnet are paid in test DOGE, which is free from a faucet and worth absolutely nothing. And DogeOS isn’t an upgrade to Dogecoin itself; rather, a separate layer built around it.

So, it could give DOGE more to do… someday.

What about the price charts though?

Dogecoin’s price analysis At press time, DOGE was trading at $0.0946. While it recorded only a slight dip on the day, we’re still nearly 20% above mid-September lows near $0.079.

Most of that move came in one go. DOGE went up above $0.10 on the 21st, and briefly tagged $0.106. In the last two weeks, the token has shuttled between $0.091 and $0.099.

Indicators didn’t seem panicky though.

The RSI was above neutral as the OBV climbed to about 154.31 billion for most of late September. This has held on, indicating that buyers who came in during the rally may be here to stay!

What does all this mean? Well, its means the ETF money is real, DogeOS is a maybe, and the chart may be catching its breath a bit. A clean breach of $0.10 is what would give this run some steam.

Final Summary DOGE ETFs logged three straight weeks of inflows. Dogecoin’s price appeared to be closing in on $0.095, nearly 20% above its September low. 

@Grayscale has made little secret of its conviction on @Zcash. The asset manager has publicly argued that the crypto market is underpricing financial privacy, and that $ZEC stands to benefit as that view shifts. Now, its Head of Research is taking the case to one of the most closely watched institutional venues in Asia.

The Singapore Stage Grayscale Head of Research Zach Pandl is scheduled to speak at Singapore's Digital Asset Yield Summit on October 6, where he is expected to lay out the macro case for Zcash. That audience matters. A privacy-coin thesis delivered to senior institutional allocators carries different weight than a research note.

The Bull Case Grayscale Has Been Building The firm's published research frames the opportunity in structural terms:

The backdrop has shifted considerably in recent months. giving traditional brokerage investors direct exposure to the token for the first time.

Despite the rally, Grayscale's view is that the repricing is not complete. while still arguing the gap with broader crypto valuations reflects a market that has not fully priced privacy as a core monetary feature.

What Pandl says in Singapore will be worth watching closely. Grayscale has the institutional credibility and the product suite to move capital, and a formal macro argument for $ZEC in front of 160 capital allocators is not nothing.

Sources:
Grayscale Research: Zcash, Financial Privacy in the Age of AI
CoinDesk: Zcash Upside Hinges on Repricing Financial Privacy, Grayscale Says
Digital Asset Yield Summit, Singapore, October 6 2026

Compound DAO is voting on whether its treasury should have to wait longer before moving money. Proposal 612 would stretch key treasury delays from two days to ten, giving COMP holders more than a week to react before funds leave.

The vote is already lopsided. A wallet linked to delegate Humpy has cast 1.75 million COMP votes in support, enough to push the proposal past quorum. Against votes sit at 921,000.

What Proposal 612 actually changes Ugur Mersin submitted the proposal on October 2, 2026. Voting opened on October 4 and is scheduled to wrap up on October 7.

The core change targets two settings. The Treasury Escrow withdrawal cooldown would rise from 2 days to 10 days. The Treasury Timelock minimum delay would also climb from 2 to 10 days.

The proposal also sets an expiration on the Escrow at 17 days. That creates a seven-day withdrawal window after the ten-day cooldown ends. If funds are not withdrawn in that window, the opportunity lapses.

Advertisement

Proposal 612 would give the Governor Timelock explicit roles as both executor and canceller over the Treasury Timelock. The main governance contract would hold the power to push treasury actions through, and also the power to kill them.

The stated goal is to line up treasury execution timelines with Compound’s full governance process. A two-day window is shorter than the time it takes the DAO to propose, debate, and vote on almost anything.

Why the treasury is under a microscope The proposal did not appear out of thin air. It follows recent activity by the Treasury Management Committee, or TMC.

On September 29, 2026, the TMC transferred $3 million in stablecoins. It then deployed $2 million USDC into a Uniswap V3 COMP position. The two-day delays governing these moves were set under the 2026 Treasury Management Program.

Recent accusations asserted that the Compound Foundation swapped 8.42 million DAI for roughly 344,780 COMP shortly before important proposal votes. Those are allegations, not findings, but they help explain why treasury oversight has become a front-burner issue.

Humpy returns to the spotlight Humpy has a history of large COMP accumulation and has been involved in governance proposal dynamics across various DAOs.

The 921,000 COMP voting against shows the proposal is not universally popular. Some delegates may see ten days as too slow for a committee tasked with managing capital in fast-moving markets.

What this means for Compound and COMP holders If Proposal 612 passes, every significant TMC action would come with a ten-day public waiting period and a clear path to cancellation through governance. Transfers like the $3 million stablecoin move or the $2 million USDC liquidity deployment would sit in a queue long enough for delegates to review, debate, and potentially block them.

A ten-day delay plus a seven-day withdrawal window means treasury actions could take more than two weeks from approval to completion.

The things to watch are straightforward. First, whether the vote holds through the scheduled October 7 close. Second, how the TMC adjusts its strategy under longer delays if the proposal passes. Third, whether the allegations involving the Compound Foundation’s DAI-to-COMP swap lead to further proposals targeting governance integrity.

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

AAVE price has climbed toward $184 as Aave’s V4 lending markets passed $1 billion in deposits, putting a key daily resistance level in focus before a possible October move above $200.

Summary

AAVE price traded near $183 on Binance, with daily resistance at the $183.86 Fibonacci level. Aave Labs reported more than $1 billion in V4 deposits and $310 million in active loans. The 4-hour chart showed a rising channel, with Supertrend support at $171.66. An analyst identified $202.29 as an upside target, conditional on a daily close above $184. CoinGecko recorded AAVE at approximately $182.51, up about 22.1% over seven days and 35.4% over a month. Its 24-hour trading range stretched from $177.50 to $187.06, placing the token close to the resistance area visible on the Binance daily chart.

Trading volume reached roughly $391.9 million over 24 hours, while AAVE’s market capitalization stood near $2.82 billion, according to the same dataset. Reaching $200 from that price would require an advance of approximately 9.6%.

Aave V4 growth adds context to the rally Aave Labs reported on Oct. 1 that V4 deposits had crossed $1 billion during September, alongside $310 million in active loans. The update confirmed that V4 had already gone live on Arc and Base.

On Base, the first market is an Equities Hub that accepts seven Coinbase tokenized stocks as collateral, with USDC as the sole borrowable asset. Aave Labs also reported that V3 active loans reached $12.5 billion during September.

The deposit and borrowing figures give the rally a measurable protocol backdrop. However, the move toward $200 also faces a price barrier that AAVE has reached following several weeks of recovery from its summer lows.

For the U.S. connection, Aave said the Coinbase stock tokens are available only to eligible users outside the United States. The products provide exposure to seven U.S. technology companies, including Apple, Microsoft and Nvidia, but their availability does not extend to U.S. investors.

Aave’s Sep. 25 announcement also said the equity tokens are collateral-only at launch. Users can borrow USDC against them, while borrowing the equity tokens themselves is not enabled.

AAVE meets its daily barrier near $184 TradingView’s Binance daily chart placed AAVE at $183.32, up 2.34% for the session, with a high of $187.36 and a low of $177.29. Price was testing the 0.618 Fibonacci level at $183.86, drawn across the larger decline from $386.25 to $58.76.

AAVE price daily chart — Oct. 5 | Source: TradingView The position of that level makes roughly $184 the immediate test for buyers. Price has traded above it during the session, but the chart still placed AAVE just below the line at the time recorded.

Above the recent $187 area, $200 is the next round-number threshold. The daily Fibonacci framework places the next higher retracement at $222.50, followed by $261.15, although neither level establishes a timetable for reaching it.

Daily momentum remained positive. The Awesome Oscillator read 34.58, with the latest green bars expanding above zero as AAVE approached resistance.

Chaikin Money Flow stood at 0.20, above its zero line. Together, the positive oscillator and money-flow readings support the bullish technical setup, while the $183.86 barrier remains the level price needs to clear.

A rejection around that barrier would leave AAVE trading below a major retracement despite the recovery. The nearer downside levels on the shorter timeframe would then become more relevant than the higher daily Fibonacci targets.

The rising channel puts $171.66 in focus The Binance 4-hour chart showed AAVE at $183.20 inside an ascending channel extending from mid-September. Successive advances and pullbacks have kept price between the two upward-sloping boundaries.

AAVE price 4-hour chart — Oct. 5 | Source: TradingView Recent trading was below the upper boundary after the early-October advance toward $187. The channel’s upper edge extends toward the high-$190s farther along the chart, while its lower boundary approaches the $170 area.

The 4-hour Supertrend remained green at $171.66, approximately 6.3% below the displayed price. Holding above that line would preserve its bullish signal; a move below it would weaken the shorter-term setup.

ADX registered 37.69, above the commonly watched 25 threshold associated with a stronger trend. Its latest reading had eased from the recent peak, suggesting that trend strength had cooled even as price remained elevated.

For an October advance, the technical sequence starts with a sustained move through $184–$187, followed by a test of $190 and the upper channel area. Falling through $171.66 and the lower channel boundary would instead expose the earlier trading area around $158–$160.

Liquidity near $186–$189 precedes the $200 target CoinGlass’s one-week liquidation heatmap showed prominent overhead concentrations around $185–$189, including a bright band near $189. Additional bands appeared toward $190–$193.

AAVE liquidation heatmap | Source: CoinGlass Below price, clusters extended through roughly $174–$177 and $170–$172. A deeper concentration remained near $154–$156, close to the lower portion of the week’s trading range.

The overhead bands place leveraged-position exposure near the same area as recent price resistance. Clearing that zone is the nearer test before a move toward $200.

In an Oct. 5 X post, a pseudonymous analyst identified $202.29 as a potential target after a confident daily close above $184. The analyst also warned that a pullback toward $150–$160 could occur before another advance, citing extended gains and overheated futures.

The bullish October scenario therefore depends first on AAVE establishing support above $184 and clearing the recent highs near $187. Maintaining the rising channel and $171.66 Supertrend support would keep that setup intact, while losing both would shift attention toward the lower support areas.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Hedera price has retreated about 23% from its late-September peak near $0.131, leaving HBAR close to $0.101 as traders assess whether support at $0.10 can hold through October.

Summary

Hedera price was trading near $0.101 after surrendering much of its late-September surge toward $0.131. The daily Ichimoku conversion line stands at $0.11166, above the token’s latest price. Weekly Supertrend support sits at $0.06943, while the Awesome Oscillator has turned positive. CoinGlass shows overhead liquidation concentrations around $0.107–$0.114 and further bands below $0.10. TradingView’s Binance HBAR/USDT daily chart places Hedera at $0.10120, down 2.70% for the displayed session. The token traded between $0.10019 and $0.10489, keeping the latest decline close to the round-number support level.

The late-September advance briefly carried HBAR toward $0.131 before a steep reversal returned it to the low-$0.10 range. Based on those chart levels, the retreat amounts to approximately 22.7%, while a return to the peak would require a gain of about 29.4% from $0.10120.

The daily and weekly charts present different conditions. Daily price action shows weaker momentum after the spike, but the weekly chart retains a bullish Supertrend signal and a positive momentum reading. October’s recovery case therefore depends on whether nearby support survives while HBAR works through resistance above its current price.

Hedera price faces an early test at $0.1117 On TradingView’s daily chart, the Ichimoku conversion line stands at $0.11166, while the base line is $0.10146. HBAR sits just below the base line and roughly 9.4% below the conversion line, placing two separate hurdles above the latest price.

Hedera price daily chart — Oct. 5 | Source: TradingView A recovery through $0.10146 would bring price back above the baseline. Holding that level through a subsequent pullback would support an attempt to reach the conversion line, although the larger gap to $0.11166 shows how much ground buyers still need to recover.

The forward Ichimoku cloud spans approximately $0.09762–$0.10656. Its lower edge lies below the current price, while its upper edge sits around 5.3% higher, creating another nearby reference point for an October rebound.

The forward cloud turns green, but HBAR remains below the daily conversion line. In the chart-based bullish scenario, price would first recover the base line, then move through $0.10656 before testing $0.11166. Rejection at either higher level would leave the recovery incomplete.

Daily Aroon readings show Aroon Up at 50% and Aroon Down at 0%. The upward reading has eased from its stronger late-September position, consistent with the growing distance from the recent high, while the downward reading remains low because the longer lookback has not registered a fresh low.

Together, the daily indicators leave HBAR with a mixed setup. Price has lost the sharp upward pace of the September rally, but the Aroon readings do not show a new low dominating the same observation window. Holding $0.10 would preserve the immediate consolidation; reclaiming $0.11166 would provide a stronger recovery signal.

Weekly momentum improves below $0.1405 resistance TradingView’s weekly chart places HBAR at $0.10126, with the Supertrend support line at $0.06943. The indicator has switched to green following the recent recovery, leaving its support approximately 31.4% below the latest weekly price.

Hedera price weekly chart — Oct. 5 | Source: TradingView The weekly Awesome Oscillator reads 0.00798, with green bars above zero. Its move into positive territory follows an extended period of negative readings, giving the weekly recovery a firmer momentum signal than the latest daily pullback alone would suggest.

However, the chart’s marked horizontal resistance at $0.14051 remains well above the current market. HBAR would need to rise approximately 38.8% from $0.10126 to reach that level, making it a larger recovery objective after the nearer resistance areas have been cleared.

The weekly price history shows several past reactions around the $0.14 region. A return there would bring HBAR back to a price area that acted as a turning point during earlier market cycles, rather than simply extending the latest rebound into an untested zone.

The late-September high near $0.131 comes before that weekly barrier. For the October bullish scenario, a move above $0.11166 would open a test of $0.12, followed by the recent peak. Breaking and holding above $0.131 would then put the marked $0.14051 resistance in focus.

The weekly Supertrend offers a more distant downside reference, but $0.10 remains the nearer test. A token can retain a bullish weekly indicator while suffering a substantial daily correction, particularly when the indicator’s support line sits far below the market.

Giannis Andreou’s recovery case needs $0.085–$0.10 support In an Oct. 5 post on X, analyst Giannis Andreou identified $0.12–$0.15 as Hedera’s next weekly resistance zone. His bullish scenario requires the $0.085–$0.10 region to hold through a retest, followed by a sustained recovery above resistance.

“My bullish scenario needs $0.085–$0.10 to hold through a retest, followed by a sustained reclaim of that resistance.”

Andreou’s support range includes the current $0.10 test but extends below it. Under his framework, a brief loss of $0.10 would not automatically invalidate the broader recovery, provided HBAR found support inside the wider band and subsequently recovered.

The analyst listed $0.20 and $0.40 as later levels, with the historical high near $0.576 and $0.60 beyond it. He framed those prices as a full-cycle recovery scenario, with a weekly close below $0.055 invalidating his setup.

For October, his nearer $0.12–$0.15 resistance zone is the more immediate reference. The larger targets depend on several earlier barriers being cleared and were not presented as a forecast for the month.

Liquidation bands frame the next move around $0.10 CoinGlass’s one-month HBAR liquidation heatmap shows several overhead concentrations around $0.107–$0.114. Further bands appear around $0.12–$0.125 and near $0.132, broadly overlapping the price regions HBAR would encounter during a recovery toward its September peak.

Hedera liquidation heatmap | Source: CoinGlass Below the market, the heatmap shows concentrations around $0.098, $0.094–$0.095 and $0.091–$0.092. Additional bands lie in the high-$0.08 range, providing lower reference areas if the current support test gives way.

The immediate chart-based bearish scenario begins with a sustained loss of $0.10, followed by failure to recover it. A move below the forward cloud’s $0.09762 lower boundary would then bring the $0.094–$0.095 region into focus, where September price consolidation and liquidation concentrations overlap.

Failure to hold that area would expose the next visible region around $0.09. Andreou’s $0.085 lower support boundary would become relevant during a deeper correction, before the more distant weekly Supertrend level at $0.06943.

IBM development provides context as October resistance builds The Hashgraph Group announced on Sep. 23 that its Hedera-based IDTrust identity platform had been validated and listed in the IBM Cloud Catalog. The company described the product as a digital identity platform supporting verifiable identities for AI agents.

Separately, IBM said on Sep. 28 that IBM Agent Identity and HashiCorp Vault integrate with NVIDIA OpenShell. IBM’s announcement identified those products as part of its work around NVIDIA’s Open Agent Safety Platform.

For US investors, Nasdaq’s listing notice confirmed that the Canary HBAR ETF began trading under HBR on Oct. 28, 2025. The listing provides a US exchange-traded route for HBAR exposure alongside direct token ownership.

The October technical outlook remains centered on $0.10 support and the daily conversion line at $0.11166. Holding support and clearing that line would strengthen the case for $0.12–$0.131, while a sustained break below $0.09762 would shift attention toward $0.095 and $0.09.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana has kicked off Q4 in a way that has put the spotlight back on the SOL/ETH ratio.

Technically speaking, SOL/ETH closed Q3 nearly 6% lower, showing that Ethereum significantly outperformed Solana in the last quarter. Whereas SOL returned 60%, ETH delivered 73% ROI, meaning that in FOMO fashion, Ethereum currently has the stronger setup heading into Q4.

But Solana’s latest on-chain activity suggests the gap might be beginning to close. According to Blockworks data, Solana has kicked off Q4 processing more spot DEX volume than Ethereum mainnet, all of Ethereum’s L2s and Hyperliquid combined. In figures, that means Solana processed over $1.6 billion in spot DEX volume, up more than 50% on Ethereum.

Source: Blockworks As a critical metric of on-chain activity, the early divergence could set up a stronger SOL/ETH setup in Q4.

The reasoning behind this is simple: Higher DEX volume is an indicator of increased activity on the Solana blockchain, which could lead to higher demand for the network, thereby giving SOL more room to appreciate against ETH. Interestingly enough, the liquidity setup is already starting to support this thesis.

According to RWA Foundation, stablecoin market cap across the top 10 chains grew by $815.7 million in the last 24 hours. Solana alone captured nearly 50% of that growth, adding $378.1 million. For SOL, that fresh liquidity could fuel even more capital into the ecosystem, giving its DEX a further boost as Q4 begins.

The key takeaway? One sector could already be pointing to where this liquidity and rising DEX activity are heading. So, if Solana [SOL] continues to capture a larger share of this activity, it could serve as the next catalyst for SOL to gain ground over Ethereum and potentially set the stage for a SOL/ETH breakout.

Can tokenization give Solana the edge over Ethereum? In a recent post, Solana highlighted a development that caught the market’s attention.

Nasdaq listed it, Solana moved it.” A drone defense company had more trading volume on Solana than its home exchange while Fiserv plugged in 90+ banks and credit unions. Solana also posted $365 million in Q3 app revenue, its tenth consecutive quarter leading the pack in crypto-native assets.

According to AMBCrypto, the main takeaway is that a Nasdaq-listed company saw more volume on Solana than its home exchange, signifying that tokenized assets are the driving force behind the network’s growth, with the tokenized stock trading volume on Solana crossing a record $4.4 billion in September.

Source: X While Ethereum [ETH] still holds dominance in the wider RWA space, Solana’s Q3 momentum in the tokenized stocks and real-world use cases arena is helping to close the gap. If the trend continues, the increased level of tokenization activity could provide Solana with a key catalyst for capturing more on-chain volume and potentially narrowing the gap with Ethereum in Q4.

In this regard, the fact that Solana kicked off October by outperforming Ethereum in terms of DEX volume could be seen as a precursor to the on-chain dominance of SOL, which could eventually lead to a breakout of the SOL/ETH pair above the 0.05 resistance level.

Final Summary Solana’s on-chain activity is picking up, giving SOL a chance to catch up with ETH in Q4. Growing tokenization could be the key catalyst, potentially helping SOL/ETH break above 0.05.

September 2026 marked another major month for tokenization across the Solana ecosystem. Tokenized equities reached new highs in supply, holders, and trading volume, while regulatory developments in the United States created a clearer pathway for certain onchain securities markets.

Tokenized commodities, funds, deposits, digital infrastructure, and real-world assets all gained momentum. Here is everything you might have missed:

September 1: Tokenized Equity Supply Reaches $780.5 Million Solana started the month with a new milestone for tokenized equities. Tokenized-equity supply on the network reached a record $780.5 million on September 1, according to Blockworks data. The figure marked another step in the rapid expansion of stock-based assets on Solana.

September 2: SHEIN Arrives Onchain SHEIN, one of the world's largest online fashion retailers, debuted on the Hong Kong Stock Exchange and became available as a tokenized stock on Solana through xStocks on the same day.

The launch provided another example of tokenization following traditional market events in near real time. The development also expanded the geographic range of equities available through Solana's tokenized stock ecosystem.

September 11: Solana Launches Stocklana Solana launched Stocklana, a dedicated hackathon focused on tokenized equities.

The initiative offered more than $100,000 in prizes to developers building stock-focused products on Solana. The competition ran from September 11 through September 25.

On the same day, tokenized $GRND stock on Solana reached approximately $31 million in trading volume less than 24 hours after launch. That figure nearly doubled the company's approximately $16.6 million NYSE trading volume from the previous day and exceeded its roughly $25 million average daily volume.

September 14: Africa's Largest IPO Comes to Solana NectarFi launched the Dangote Petroleum Refinery and Petrochemicals IPO on Solana through its partnership with GetEquity.

The offering is Africa's largest public share offering and gives investors access through stablecoin subscriptions. Investors can participate with a minimum purchase of ₦10,000, about $7.50.

September 14: Kraken Brings Yield to Tokenized Stocks Kraken launched xStocks Vaults with Veda, Kamino, and Sentora.

The product lets users deposit $SPYx, $QQQx, and $NVDAx and earn yield.

September 16: Project Harmonia Opens Applications Project Harmonia opened its formal application process for tokenized funds, distributors, and ecosystem participants.

The initiative connects Allfunds' institutional fund distribution network with Solana's onchain infrastructure. Allfunds connects more than 3,300 asset managers and financial institutions and has approximately €1.9 trillion in assets under administration.

Through Harmonia, eligible tokenized funds on Solana can seek access to Allfunds' institutional distribution network, while funds already available through Allfunds can become accessible through Solana.

September 17: SEC Opens a Pathway for Tokenized Stocks The U.S. Securities and Exchange Commission approved a temporary, conditional Innovation Exemption for certain tokenized stock trading activities.

The framework allows permissioned Tokenized Securities Venues to facilitate trading in certain National Market System stocks through automated market makers and liquidity pools without falling under the traditional definition of an exchange.

The exemption creates a 5-year window for eligible venues to test onchain securities markets under defined conditions. The decision marked one of the year's most significant regulatory developments for tokenized equities.

September 18: Dawn Tokenizes Digital Infrastructure Cash Flows Dawn Internet launched its USD.infra Vault to connect eligible non-U.S. participants with real-world digital infrastructure.

The product links stablecoin liquidity with AI compute and wireless connectivity network deployments. The model aims to connect capital formation with the development and expansion of physical digital infrastructure.

September 23: NYSE Explores 24/7 Tokenized Markets Blockchain and the New York Stock Exchange announced a partnership to explore global, 24/7/365 trading of tokenized U.S. stocks and ETFs.

The initiative could eventually provide more than 44 million Blockchain users with access to tokenized securities through the NYSE's planned digital alternative trading system.

September 23: Solana Passes 1 Million Tokenized Equity Holders Solana surpassed 1 million tokenized equity holders for the first time.

The network currently boasts almost 1.3 million tokenized equity holders.

September 24: UK Banks Complete Tokenized Deposit Transaction Lloyds, NatWest, and Barclays completed the world's first interbank transactions using blockchain-based tokenized deposits, while HSBC and other banks also tested peer-to-peer payments.

The banks used tokenized deposits in 2 mortgage transactions, demonstrating how blockchain infrastructure could support settlement between regulated financial institutions.

September 28: Raydium Surpasses $6 Billion Stock Trading Volume Raydium crossed $6 billion in cumulative tokenized stock trading volume.

The milestone followed the protocol's rapid expansion throughout the year as tokenized equities became a larger part of decentralized market activity on Solana.

That same day, Solana overtook Robinhood to become the No. 1 blockchain for weekly tokenized commodities spot trading volume for the first time.

September 29: Metaplex Introduces a Permissioned RWA Standard Metaplex introduced MPL-3643, a new standard for permissioned real-world assets and tokenized securities on Solana. The standard gives issuers compliance controls, including transfer restrictions, lockups, verified-wallet access, and jurisdictional limits.

The framework addresses a central challenge facing tokenized financial assets: combining the composability of blockchain infrastructure with the regulatory requirements that govern securities and other restricted assets.

Memestocks also gained momentum in September, with Super Inu ($SI) becoming a notable example. The memecoin, paired with tokenized Nvidia stock ($NVDAx), reached a $60.9 million market cap after President Donald Trump's push to use "Super Intelligence" instead of "Artificial Intelligence" created a direct narrative around the token. $SI surged nearly 130% on September 29 and briefly became StonkFun's largest memecoin by market cap.

Broader Trends: Tokenized Markets Continue to Scale September's developments point to several broader trends across Solana's tokenization ecosystem.

Tokenized equities continued to dominate activity. Solana recorded approximately $4.25 billion in tokenized equities spot trading volume during September, while tokenized commodities generated approximately $264.6 million in spot volume.

Allium data also showed that holders across RWA products on Solana increased 5x over the past year, with tokenized stocks accounting for 98% of the increase since April. The growth suggests that equities have become a major driver of participation in Solana's broader RWA ecosystem.

Tokenized equities also began developing their own communities. Vida Global CEO Lyle Pratt commented on the emerging memestock trend around tokenized equities, noting that communities built around pairs involving tokenized stocks can create places where shareholders organize and develop new experiments.

Vida Global subsequently embraced its tokenized VIDAx stock on Solana with an investor page tracking holders, trading volume, onchain activity, and the amount of stock locked in liquidity pools.

Vibhu, speaking on SolanaFloor's Big Picture livestream, described the tokenization supercycle as both real and global. 

He argued that traditional financial institutions can take 2 years to move a project from its initial development into production, meaning much of today's institutional experimentation may only begin showing its full impact over the next several years.

September therefore represented another step in the transition from isolated tokenized assets toward broader onchain capital markets. Regulatory frameworks, institutional distribution networks, traditional exchanges, and onchain liquidity venues increasingly worked toward the same objective: making financial assets available through programmable, continuously accessible digital infrastructure.

With tokenized equity supply reaching $780.5 million at the start of the month, more than 1 million holders by September 23, and billions of dollars in monthly spot volume, Solana's tokenization market continued to move from an emerging use case toward a more established segment of digital financial infrastructure.

Read More on SolanaFloor Federal Judge’s Dismissal Closes Door on $LIBRA, $M3M3 Saga
$BP Surges 255% in 30D Following Strong Month for Tokenized Equity Trading

Solana App Revenue At Bull Run Levels, Is $SOL Next?

In brief DeFi Development Corp. added about 26,203 SOL between Sept. 28 and Oct. 2, lifting holdings to 2,564,212 SOL and SOL equivalents, per an 8-K filed Oct. 5. The gain is roughly half the 47,706 added the prior week and about a quarter of the 101,381 added the week ending Sept. 18. The company says its treasury is up 11% since Aug. 12 and values it at $302 million, and it paid the first 13% dividend on its CHAD preferred stock on Oct. 1. DeFi Development Corp., a Financial services and asset management company known in the crypto ecosystem for having the second biggest Solana holdings in the world, just added 26,202 SOL, worth roughly $3 million, to its treasury. The funds came in between Sept. 28 and Oct. 2, according to an 8-K, the form public companies file to disclose significant events.

The Nasdaq-listed company, ticker DFDV, now holds 2,564,212 SOL and “SOL equivalents,” a term the filing doesn’t define. It values the pile at $302 million. That’s a 1% increase from the 2,538,010 it held on Sept. 25.

Myriad: Where does Solana go next? Click to make your prediction.The pace with which the company is adding to its coffers is cooling. DFDV added 101,381 SOL in the week ending Sept. 18 and 47,706 SOL the week after.

CEO Joseph Onorati framed it differently in the company’s press release. “The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12,” he said.

Lightning speed, in this case, was roughly half the previous week’s pace.

DFDV is what’s known as a digital asset treasury company, a business whose main strategy is piling up one cryptocurrency on its balance sheet. It applies the approach Michael Saylor’s Strategy popularized with Bitcoin to Solana, and it runs its own validators, the computers that help run the network and earn rewards. For shareholders, the appeal is exposure to SOL through a regular brokerage account.

DFDV pitches itself as a bigger swing on Solana. In an August release, Onorati said the company is designed to give investors magnified exposure to SOL. In practice, that means moves in SOL’s price are supposed to hit the stock harder, in both directions.

The company sells CHAD, a preferred stock—shares that get paid dividends ahead of common stock—to raise money that its prospectus says will go partly toward buying SOL. CHAD has a stated amount of $10 and currently pays 13% a year, or $1.30 per share, according to the release. Its board can adjust that rate, per the same prospectus.

The company also set up a $300 million at-the-market program, a way to sell new shares over time at market prices, per the release.

On Sept. 1, the company was offering 2.2 million shares of CHAD at $9, a deal that could raise $19.8 million. The IPO priced two days later at 1,375,000 shares and $8 each, for about $11 million. Against a treasury the company values at $302 million, that’s a small slice.

DFDV also issued preliminary third-quarter estimates as of Sept. 30, not final results. It said SOL per share and total SOL grew by double digits since Aug. 12. Net asset value per share—what’s left for each common share after subtracting debts and preferred stock from holdings and cash—grew more than 100%.

The company was known as Janover, a commercial real estate platform, until its 2025 pivot. In May 2025, it held nearly 600,000 SOL. It now holds more than four times that.

The DAT model, though, has a catch. Treasury firms grow by selling shares at a premium, meaning more than the tokens behind each share are worth, and history has proven that growth stalls when shares fall below that value. By December 2025, many firms’ shares had slipped below the value of their crypto holdings, Strategy’s included.

The company has declared CHAD dividends of $0.00516 per share for each business day through Oct. 30.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Sui Dollar, the native stablecoin of the Sui blockchain, is now available to trade on Bullish in eligible regions.

The token trades under the ticker $USDsui. It reached a centralized exchange order book only weeks after its launch, which is quick for a stablecoin built for one specific chain.

What USDsui actually is
$USDsui launched on March 4, 2026, as a fiat-backed, USD-pegged stablecoin native to Sui. Bridge, a company owned by Stripe, issues it on a 1:1 basis through its Open Issuance platform.

Each token is backed by a reserve of dollar assets. That reserve includes US Treasuries, repos, money-market funds and cash, with an emphasis on short-term Treasuries.

The token was built to support payments and decentralized finance (DeFi) inside the Sui ecosystem. DeFi refers to lending, trading and other financial services run by software on a blockchain rather than by a bank.

The circulating supply sits between approximately 78.5 million and 78.85 million tokens. Market capitalization is near $78–79 million, and the token has held its $1.00 peg.

The yield twist
Most fiat-backed stablecoins operate on a simple business model. Users hold tokens that earn nothing, the issuer parks the reserves in Treasuries, and the issuer keeps the interest.

USDsui tweaks that arrangement. Yield generated by its reserves is directed toward buybacks of the SUI token and toward liquidity incentives for DeFi on Sui, rather than flowing only to the issuer.

A buyback means using money to purchase SUI tokens on the open market. Liquidity incentives are rewards paid to users who deposit assets into trading pools, which helps those markets run smoothly.

Where it already lives on-chain
Before landing on Bullish, USDsui had already been integrated into several DeFi applications on Sui. Those include Cetus, Bluefin and Turbos Finance.

In some snapshots of Sui network activity, USDsui ranks as the second-largest stablecoin on the chain. The top spot belongs to USDC.

Stablecoin transfer volumes on the Sui blockchain exceeded $100 billion in early 2026, alongside growing institutional demand for stablecoins.

What this means
For traders, the Bullish listing adds a new venue to access USDsui without first moving funds onto Sui itself.

The Stripe connection is also a meaningful signal. Bridge’s involvement ties USDsui to a major payments company, which may appeal to institutions that care about who sits behind a stablecoin’s reserves.

There are risks worth keeping in view. USDsui is weeks old, its supply is a fraction of USDC’s, and its success depends heavily on continued activity within one blockchain.

The listing is limited to eligible regions, so availability will vary depending on where a user is based.

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

Amber Premium is moving deeper into blockchain infrastructure. The digital asset platform, owned by Nasdaq-listed Amber International, has joined XDC Network as a masternode validator through its Singapore business, Sparrow Tech.

That means Amber will now help verify transactions and support the network itself. For a company better known for crypto trading and wealth management, that is a different kind of bet.

Amber Moves From Using Crypto to Running Its Rails Sparrow Tech operates as Amber Premium Singapore and holds a Major Payment Institution licence from the Monetary Authority of Singapore for digital payment token services. MAS records confirm the licence.

By becoming a validator, Amber is effectively moving closer to the plumbing underneath crypto markets.

Validators play a fundamental role in blockchain networks. They help confirm transactions and maintain the ledger that everyone else relies on.

XDC has been trying to put established companies into that position.

Its existing infrastructure participants include names such as Deutsche Telekom, while Republic and Clearpool have also joined as institutional validators alongside SBI-linked infrastructure.

This matters because institutional blockchain adoption increasingly raises a simple question: who is actually running the network?

Wall Street Wants Blockchain. It Also Wants Someone Accountable XDC has positioned itself around trade finance and tokenized real-world assets.

The network has been used for projects involving corporate debt and trade-related financial instruments. Brazil’s VERT Capital, for example, announced plans to tokenize up to $1 billion of assets on XDC.

A tokenized deposit and a stablecoin may appear similar onchain, but they do not represent the same type of claim.

A stablecoin is generally a claim on its issuer, supported by a separately held reserve pool.

A tokenized deposit remains a claim on the issuing bank and is backed… pic.twitter.com/1Nyo6y3hwi

— XDC Foundation (@XDCFoundation) September 16, 2026 Putting regulated financial firms into the validator layer could make that infrastructure easier for institutions to accept.

There is an obvious tension, though.

Public blockchains were built around decentralization. Filling validator sets with recognizable financial companies makes them look more credible to banks, but potentially more similar to the financial system crypto originally tried to move away from.

For XDC, that appears to be a deliberate trade-off.

The AI Story Is Much Further Ahead of Reality Amber and XDC are also linking the partnership to another emerging theme: AI agents that can eventually move money and initiate transactions without human involvement.

XDC argues that if machines increasingly make financial decisions, the credibility of the infrastructure validating those transactions becomes more important.

However, the AI story remains largely a future thesis. The development happening today is much simpler.

A Nasdaq-listed digital asset company has decided that operating blockchain infrastructure is worth its time and capital. As tokenized finance grows, more financial firms may reach the same conclusion.

Disclaimer

BeInCrypto independently reports and controls this Feature. Quoted views belong to their speakers. This content is general and non-personalized; it does not consider your circumstances and is not investment research, financial, investment, legal or tax advice, or an offer, endorsement or recommendation to transact in any crypto-asset, product or service. Verify material information before acting. Crypto-assets are volatile and may result in total loss. BeInCrypto gives no warranty as to completeness, accuracy or timeliness, except where required by law.

Hyperliquid is one of the buzziest blockchains in crypto. Known for its perpetual futures trading platform, it has also achieved a rare feat: building a digital asset treasury, or DAT, that has delivered positive returns for its shareholders. DATs are corporate vehicles designed to acquire and hoard a specific cryptocurrency—Michael Saylor’s Bitcoin behemoth Strategy is the most famous example—but in the past year, their share prices have slumped badly, and some DATs have flamed out altogether. The exception is the DAT called Hyperliquid Strategies, ticker symbol PURR, whose shares have climbed 251% since the start of the year. 

Since Hyperliquid Strategies launched 10 months ago—less than two years after the Hyperliquid blockchain went live—its market capitalization has climbed past $3 billion. The DAT now holds more than 35 million HYPE tokens, the blockchain’s native token, worth roughly $3.3 billion. This twin achievement of expanding its treasury and posting outsize shareholder returns puts the Hyperliquid DAT in stark contrast to its peers. As the chart below shows, the year-to-date returns of the leading DATs dedicated to Bitcoin, Ethereum, and Solana have been dismal:

So why has Hyperliquid’s DAT flourished while the others have stumbled? Unlike other DATs, Hyperliquid Strategies does more than accumulate tokens and wait for their value to rise. The company has built an operating model that runs like an active business rather than a passive vault. By earning revenue from its holdings, the company can add to its HYPE reserves, increasing the amount of cryptocurrency tied to each share of stock over time. Whether by design or circumstance, Hyperliquid Strategies may have finally cracked the code on how to make DATs viable. 

The remarkable rise of Hyperliquid In the short time since the Hyperliquid blockchain launched in 2023, its HYPE token has vaulted into the top 10 most valuable cryptocurrencies. A big reason is that, unlike many other crypto projects that seek to build value with hype or vague future promises, Singapore-based Hyperliquid—founded by Harvard grad and physics whiz Jeff Yan—offers a valuable real-world service.

Its decentralized platform offers 24/7 derivatives trading at rapid speed, and is based around perpetual futures, a novel type of option that doesn’t expire. Following its launch, Hyperliquid initially drew crypto speculators, but soon after attracted a new group of customers: traders who use Hyperliquid to trade tokenized versions of oil, gold, and other commodities. 

This new class of traders has carried out huge numbers of transactions on Hyperliquid, which charges small fees in the form of the HYPE token. Hyperliquid uses a portion of those fees to pay the so-called validators who operate the blockchain, but most of the HYPE it collects is “burned”—diminishing the overall supply and increasing the value of the token. All of this has led the price of HYPE to surge more than 2,200%, according to data analytics platform CoinGecko.

Even as Hyperliquid thrived, however, it faced an obstacle to further growth: It was not (and still is not) legally available in the United States, leaving many American investors without an easy way to gain exposure to the platform. Meanwhile, many investors of all sorts who are unfamiliar with crypto find buying HYPE tokens can be cumbersome, typically requiring them to create a crypto wallet and connect it to a decentralized exchange.

Spotting this gap in the market, David Schamis, a founding partner at private equity firm Atlas Merchant Capital and former Barclays executive, launched Hyperliquid Strategies. The publicly traded company was created to stockpile HYPE, allowing traditional investors to buy into the ecosystem through equity shares. It was a new DAT, in other words.

In July 2025, Atlas Merchant Capital and venture firm Paradigm announced an $888 million capital raise for the DAT, and Schamis became its CEO. By December, Hyperliquid Strategies was trading on the Nasdaq under the ticker “PURR.” Buying shares of PURR—named after a cat-themed meme token that was the first to be launched on Hyperliquid’s blockchain—became the only easy path for American investors to gain exposure to HYPE until last May, when asset managers started rolling out Hyperliquid exchange-traded funds.

“That timing explains much of the success Hyperliquid Strategies has experienced since Q4 of last year, accumulating billions of dollars in treasury assets,” Eliezer Ndinga, global head of research at crypto asset manager 21shares, told Fortune. “Given … the success of the Hyperliquid ecosystem, they were well positioned to ride that wave.”

‘Adding some alpha’ Unlike its DAT predecessors, Hyperliquid Strategies did not simply sit on its HYPE stash and wait for the token to rise. That has been the model employed by Strategy and numerous copycat DATs, which have counted on steadily rising asset prices to issue new shares that pay for their operating costs. The flaw in that approach became apparent this year, however, as slumping crypto prices saw the market capitalizations of DATs fall below the value of the crypto assets they held—triggering a potentially existential spiral.

In the case of Hyperliquid Strategies, its New York–based team of four—CEO Schamis, CFO Brett Beldner, COO Jeroen Nieuwkoop, and director of corporate affairs Rob Diamond—drew on their experience in traditional finance to structure an operating model around the company’s token reserve.

Hyperliquid Strategies operates its own network validator, a specialized computer system that helps process transactions and secure the Hyperliquid blockchain. In return, it earns ongoing fees, turning its HYPE holdings into a source of operating revenue rather than a passive reserve.

In addition to validator fees, the company stakes its 35 million HYPE tokens in the network, earning ongoing token rewards. Similar to interest earned on a deposit, those rewards increase the company’s HYPE holdings over time, adding to the amount of cryptocurrency backing each share.

“For the DATs that can do that well, they actually have the ability to outperform the market over the long term because they’re taking the underlying holding and adding some alpha on top of that,” said Ryan Rasmussen, head of research at asset manager Bitwise. 

The model also depends on investors valuing Hyperliquid Strategies’ stock at more than the HYPE and cash behind each share. When PURR trades above that underlying value, its multiple to net asset value, or mNAV, is above one. That premium gives the company an additional way to grow its HYPE holdings.

“When the mNAV is above one, [the company] can issue more shares on the open market to raise cash and then buy more HYPE, and that becomes this … self-fulfilling loop,” Rasmussen told Fortune.

An analyst at crypto research firm Artemis earlier this year published a detailed breakdown of how Hyperliquid Strategies has so far been able to thread this needle.

Avoiding the DAT trap According to Ndinga, Hyperliquid’s most notable contribution was showing investors that cryptocurrency could serve a purpose beyond price speculation by expanding access to global financial markets in response to a real necessity. 

“Crypto has had a marketing problem for a while … [People assume] cryptocurrencies are trying to be like gold or the dollar,” Ndinga said. “But not all cryptocurrencies are currencies. You have crypto equities [and] crypto commodities … Hyperliquid has made the industry more tangible by showing what blockchain technology can do.”

Previous DATs strayed from this approach. Strategy initially gave traditional investors a way to gain Bitcoin exposure before spot ETFs were available. Over time, however, it built its model around passive accumulation and a “hold on for dear life” philosophy. It expanded its Bitcoin reserve through financing such as convertible notes and preferred stock, leaving its returns heavily dependent on Bitcoin’s price appreciation rather than income generated from the holdings.

As share prices dropped below so-called NAV, or net asset value, Strategy and other DATs could no longer issue stock without diluting existing shareholders. With less access to new capital, some also struggled to cover operating costs. Many ended up dying out. 

When Fortune asked Hyperliquid Strategies whether it would go down a similar path in the case of a market downturn, Schamis’s answer was concise: “We’re not religious zealots,” he said in an interview.

“Our primary responsibility is to our shareholders … and if the circumstances ever arose where it was beneficial to our shareholders to be selling our tokens … we certainly would,” Schamis added.

For practical purposes, as Schamis explained on an earnings call, this means Hyperliquid Strategies only issues new shares when its mNAV is 1.1 or higher, and buys back shares when it falls below that.

A cash cushion of roughly $292 million also gives the company a financial buffer during a severe downturn, reducing the likelihood that it will have to dump its HYPE holdings or make desperate trades. 

A narrow monopoly Hyperliquid Strategies is now entering a new chapter as the market structure around it matures. 

That shift was on full display in late August, when Trump said at a White House crypto and technology summit that the Commodity Futures Trading Commission was working to create a legal path for Hyperliquid to operate in the United States.

At the time, Schamis was in Wyoming, attending Anthony Scaramucci’s SALT Conference. After finishing a panel presentation on Hyperliquid, he stepped offstage, checked his phone, and saw PURR shares had suddenly jumped 30%.

“For about 30 seconds, I was incredibly impressed with myself, thinking my panel speech had moved the market,” Schamis recalled with a laugh. “Then I opened the news and realized President Trump had just publicly commented on bringing Hyperliquid to the U.S. at that exact same minute.”

But that mainstream attention also signals stiffer competition ahead. As spot HYPE ETFs continue to roll out in the U.S. and perpetual futures access expands, PURR’s initial monopoly on institutional access will naturally narrow.

That said, not all investment vehicles are created equal, and, according to Rasmussen, Hyperliquid’s business strategy will continue to hold off competition, at least for now. 

“The DATs that perform the best over the long term are those that add some level of operational boost to the underlying holds,” he said. “Investors are willing to pay a premium above HYPE performance to have a company … putting their assets [to work] on their behalf in generating incremental returns.”

The Commodity Futures Trading Commission (CFTC) has unveiled its first set of dedicated rules for the crypto market, dubbed Regulation CTX and Regulation CAM. The proposed regulations aim to establish a voluntary federal framework for exchanges dealing in Bitcoin and Ether. This move is part of the CFTC’s efforts to formalize oversight of crypto exchanges and spot markets, which have previously operated with limited regulatory guidance. The proposal remains in the early stages of federal review, and its full details have yet to be disclosed, marking a significant step towards regulatory clarity in the crypto sector.

Advertisement

Key Takeaways The CFTC’s proposal appears to indicate a move towards regulatory clarity, which is consistent with increased confidence in crypto markets. Market pricing suggests that participants view this regulatory development as supportive of a possible increase in Bitcoin’s market value. The proposal is still under federal review, indicating that the CFTC is taking a proactive stance in the absence of comprehensive congressional legislation. What to Watch Observers will closely monitor the progress of the CFTC’s proposal through the federal review process, which could influence market confidence and pricing dynamics. Key developments to watch include any indications from the U.S. Congress on broader crypto legislation and potential responses from major crypto exchanges. Regulatory actions or announcements by the Federal Reserve could also impact market sentiment and pricing scenarios.

Get live prediction-market analysis, powered by Vera. Sign up for Vera.

Term Structure

Contract Odds Δ since publish Volume 24h December 31 1% — — View market → December 31 1.4% — — View market → December 31 2.1% — — View market → December 31 3.1% — — View market → December 31 8.5% — — View market → January 1 2027 35.5% — — View market → January 1 2027 3.6% — — View market → January 1 2027 0.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1.6% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4.8% — — View market → January 1 2027 17.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 2.4% — — View market → January 1 2027 0.7% — — View market → January 1 2027 0.7% — — View market → January 1 2027 5.5% — — View market → January 1 2027 3% — — View market → January 1 2027 1.7% — — View market → January 1 2027 1.2% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.7% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.2% — — View market → January 1 2027 55.5% — — View market → January 1 2027 26.5% — — View market → January 1 2027 16.5% — — View market →

Bitcoin has entered October with a stronger performance than its typical seasonal pattern, raising questions about potential market movements as leverage accumulates near important price ranges.

October Defies Expectation as Bitcoin Posts Early GainsCryptoQuant analyst Andrew Kamsky reported that Bitcoin’s first three days of October are historically the month’s weakest, with an average decline of 0.66%. In contrast, this year’s early October performance has exceeded expectations so far.

Bitcoin ended September at $83,574 and closed October 3 at $84,743, representing a 1.4% increase. Between the October 1 and October 3 closes, Bitcoin fell just 0.14%, beating the historical average drop for this period.

As of October 4, CryptoQuant estimated Bitcoin’s price at $85,132, maintaining a gain of 1.86% since the end of September.

September’s results also ran counter to usual patterns. Instead of the typical average 4.02% decline, Bitcoin gained 6.39% in September. Kamsky stated that this resilience has continued into the early days of October.

Despite the historical trend of early October weakness, Bitcoin closed higher in both September and the initial days of October, demonstrating resilience.

Key Liquidation Levels and Volatility PotentialAlthough the start of October has been calm, derivatives market data suggests that volatility may increase quickly if Bitcoin moves outside specific price ranges. Leading analytics firms CoinGlass and Glassnode have highlighted concentrated liquidity and potential for liquidations on both the upside and downside.

CoinGlass pointed to substantial liquidation levels at $87,600 above the current price and at $83,400 below, suggesting a tight trading band with significant potential for both upward and downward moves.

Glassnode’s research indicates the largest concentration of liquidation risk is centered around $90,000, but smaller clusters exist at $83,000 and near $75,000. This creates a relatively narrow trading zone where derivatives traders face meaningful exposure in both directions.

On October 5, Bitcoin traded around $86,000. Analysts warned that a break below $83,400 could expose the market to thinner liquidity, while a move upwards through $87,600 toward $90,000 could trigger a wave of short liquidations, potentially accelerating price action.

Price LevelLiquidation RiskPossible Impact$83,000–$83,400Downside clusterPotential for increased selling$87,600–$90,000Upside clusterPotential for short squeeze$75,000Lower level clusterFurther downside riskThese liquidity zones reflect the growing leverage in the market as traders position around key support and resistance levels.

Analysis from both firms suggests the next decisive move could be accompanied by a spike in volatility, as traders on both sides risk forced liquidations.

Long-Term Valuation and Market Cycle ContextGlassnode lead analyst AntiFragile noted Bitcoin’s price currently sits about 13% below its long-term average valuation, known as the Mean MVRV Price. This metric multiplies Bitcoin’s Realized Price by its long-term average Market Value to Realized Value ratio to estimate fair value based on on-chain investor behavior.

Mini dictionary: Mean MVRV Price, a valuation metric indicating whether Bitcoin is trading above or below its typical historical relationship between market value and realized value, offering insight into potential overvaluation or undervaluation.

According to AntiFragile, in previous market cycles, Bitcoin tended to see its strongest gains after closing above this level, and cycle tops historically followed more than a year later. However, there is no guarantee that historical cycles will repeat.

The combination of a strong start to October and heavy derivatives positioning implies that Bitcoin’s next move could be sharp, depending on whether it maintains upward momentum or falls through an important support area.

While past cycles offer context, current leverage and liquidity levels may create unique volatility risks as October progresses.

As traders and investors weigh the situation, they face a crucial question: whether Bitcoin can sustain its early gains and reclaim higher long-term valuation, or whether a shift in liquidation zones will invite fresh selling pressure.

Bitcoin’s large holders are back in the green. Small wallets, meanwhile, held up through the June low better than they did during the 2022 bear market.

A drawdown that didn’t break anyone Bitcoin’s June 2026 low landed somewhere between $58,500 and $70,000, depending on the measure used. At that point, roughly 51.4% to 55% of the circulating supply was still in profit.

At the trough, around 10.2 million BTC were underwater before prices recovered.

The standout cohort was wallets holding between 100 and 1,000 BTC. These mid-to-large holders kept unrealized profits through the June drawdown. They then accumulated significantly in the months that followed.

Retail-sized wallets also avoided the deeper underwater positions that defined earlier downturns. Small holders did feel unrealized loss pressure. They simply did not capitulate in large numbers.

Advertisement

The realized price line held Bitcoin’s price did not close below its realized price during the 2026 drawdown, a first in the tracked history of its bear markets.

Realized price works like a giant average receipt. It values each coin at the price it last moved on-chain, then averages the result across the whole supply. If market price falls below it, the typical holder is sitting on a loss.

VanEck’s mid-2026 ChainCheck report noted a transition from early capitulation losses into an accumulation phase among larger players, with coins migrating from weak hands to strong hands.

Profitability returns as prices climb By September and October 2026, Bitcoin had pushed toward the $80,000 to $87,000 range. Profitability metrics improved across every cohort category as a result.

In September, single-day profit realizations hit approximately 25,700 BTC. Even so, small and mid-tier holders reportedly strengthened their positions through the period rather than heading for the exits en masse.

Why 2022 looks so different The 2022 bear market pushed holders much deeper underwater, and retail wallets were hit especially hard. In 2026, small wallets stayed profitable at the June low, large entities recovered quickly, and the realized price floor held.

What this means for investors Large holders appeared less inclined to distribute their coins during the downturn. The accumulation by 100 to 1,000 BTC wallets deserves particular attention, as this cohort continued buying after June, suggesting conviction rather than opportunistic flipping.

The sharp acceleration in profit-taking, highlighted by that roughly 25,700 BTC day in September, could signal caution ahead. Heavy short-term profit realization can trigger corrections, even in an otherwise healthy market.

Market participants will want to watch profit realization volumes, whale accumulation trends, and the distance between market price and realized price as key signals going forward.

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

In This Article What Does the Partnership Actually Mean for XRP Ripple SettlementWhat the Seoul Participants’ Disclosed Activity ShowsWhat Would Confirm Bank-Driven XRP Ripple Demand? XRP Ripple is trading at $1.52 on October 5, as four Korean financial institutions appeared alongside Ripple at XRP Seoul. The event put institutional adoption in the spotlight, but a stage appearance and a Ripple relationship do not prove a bank is buying or settling payments in XRP.

Reports named Woori Bank, Kbank and Kyobo Securities, while leaving the fourth participant uncertain between Jeonbuk Bank and Kakao Bank. Ripple also introduced XRP Asia as a regional initiative to promote the XRP Ledger.

The distinction matters for XRP holders because using Ripple’s products does not necessarily create demand for the token. A Ripple Payments partnership with Jeonbuk Bank, for example, signals use of Ripple’s payment infrastructure, not automatically XRP settlement.

Today in Seoul, at $XRP Seoul with Ripple as title sponsor:

Kbank. Kyobo Securities. Woori Bank. JB Bank.

Four Korean financial firms on one stage, talking cross-border payments and tokenized deposits.

→ JB Bank already settles cross-border payments through Ripple Payments.… pic.twitter.com/XMxswi0tbD

— DexDad (@DexDadHQ) October 3, 2026

What Does the Partnership Actually Mean for XRP Ripple Settlement Ripple payment software can help a bank communicate who should be paid, how much they should receive, and in which currency. That arrangement can operate using conventional money such as dollars, won, or yen, without routing the payment through XRP.

A different model uses XRP as a bridge asset: value is converted from the sending currency into XRP, transferred through the XRP Ledger, then converted into the recipient’s currency. In that setup, XRP is part of the settlement path. Whether that creates meaningful token demand depends on transaction activity and other details, not just a bank’s relationship with Ripple.

According to reports, Ripple Payments may settle using local currencies, Ripple’s RLUSD stablecoin, or XRP. That is why a claim that a bank uses Ripple Payments does not identify which asset it uses.

Similarly, a custodian holding XRP for clients is safeguarding the token, not necessarily using it to settle payments; growth in Ripple’s stablecoin ecosystem also does not, by itself, establish greater demand for XRP.

What the Seoul Participants’ Disclosed Activity Shows The 24/7 Wall St. report noted that Kbank launched a Ripple remittance pilot in April 2026 for the UAE and Thailand, but did not identify XRP as the settlement asset or specify payment volumes.

Jeonbuk Bank uses Ripple Payments for cross-border settlements, but it’s unclear if it was the fourth participant in the Seoul event. Kyobo Life is working with Ripple to settle tokenized government bonds, while Woori Bank collaborates with BDACS, a custodian managing XRP for institutions; neither confirms XRP use in transactions.

These activities involve different aspects of Ripple’s technology and do not provide evidence of XRP’s use as a settlement asset. The disclosures did not confirm any specific XRP settlement agreements or volumes, despite Ripple President Monica Long’s comments on future growth for the XRP Ledger.

EXCLUSIVE: Earn $50 With EdgeX and Enter $300K Prize Draw

What Would Confirm Bank-Driven XRP Ripple Demand? Listen to what the President of Ripple just said, because she said it calmly and most people will scroll straight past it.

Pools of XRP, loaned into the pool, used as collateral, to fund payments for Ripple's customers.

Her words: payments credit meets the XRP Ledger.

Here is… pic.twitter.com/rAOwzrzi0G

— Jacob Marquez (@JacobMarquez__) October 3, 2026

The event signals public institutional exposure to Ripple-related products, but the XRP Seoul event page cautions that participation alone does not establish a partnership or affiliation. That caveat is particularly relevant to Woori Bank’s BDACS custody connection: the report describes XRP being held for institutional clients, not a Ripple contract or payment route involving the bank.

The report also notes that publicly identified XRP users have largely been payment companies rather than banks, citing Japan’s SBI Remit and its transfers to the Philippines since 2021. That example shows how XRP can be used in payments, but it does not establish that the Korean institutions have adopted the same model.

The clearest evidence would be a formal agreement that explicitly names XRP as the settlement asset and specifies transaction volumes. Payment or wallet data showing actual XRP routing would further strengthen the case.

Until then, Ripple’s institutional footprint is a meaningful development for its business and ecosystem, but it is not a measured XRP-demand catalyst; if the partnerships rely on software, custody, or stablecoins instead, direct demand for XRP remains unconfirmed.

DISCOVER: Best Meme Coin ICOs to Invest in 2026 

Follow 99Bitcoins on X For the Latest Market Updates and Subscribe on YouTube For Daily Expert Market Analysis.

#Altcoin News Today

Why you can trust 99Bitcoins

10+ Years

Established in 2013, 99Bitcoin’s 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!

Ethereum price reached $2,707 on Monday, rising 0.52% over 24 hours while holding above $2,700. The move keeps a near-term advance toward $3,000 in focus for the week.

The wider cryptocurrency market gained 0.68% during the same period, lifting its capitalization to $2.93 trillion. 

Bitcoin price remained above $85,000, and XRP was trading above $1.50 as the major cryptocurrencies continued their gains. The latest advance follows several weeks of gains across these assets since the middle of September.

Ethereum reportedly recorded its first weekly close above $2,700 in nine months, adding to the positive outlook. 

Bitmine Buys 15,112 ETH as Ethereum Holdings Top 6 Million The Ethereum treasury firm Bitmine acquired 15,112 ETH last week, lifting its holdings to 6,016,414 tokens. Those holdings represent approximately 4.9% of Ethereum’s total supply, bringing the company closer to its 5% ownership target.

🚨BITMINE JUST BOUGHT ANOTHER 15,112 ETH!

Bitmine added 15,112 ethereum:native over the past week, about $41 million at the $2,726 price in the release.

Holdings are now 6,016,414 ethereum:native, 4.9% of supply, and the company says it is 99% of the way to its 5% target.

Total crypto, cash and stakes are $17.4 billion.

— Crypto Banter (@crypto_banter) October 5, 2026

The weekly addition was worth roughly $41 million, based on the release’s quoted Ethereum price of $2,726. Bitmine’s cryptocurrency holdings, cash, securities and investment stakes reached a combined $17.4 billion, according to the company’s latest update.

Analyst Predicts Ethereum Above $3,000 After Strong Weekly Close Crypto analyst Ted Pillows said Ethereum recorded its highest weekly close in more than eight months. He identified $2,800 as the key threshold for a sustained upward move.

$ETH closed its highest weekly candle in 8+ months.

Now, Ethereum needs a weekly close above $2,800 with strong spot demand and it’ll rally towards $3,400-$3,500. https://t.co/ODGEN0lLag

— Ted (@TedPillows) October 5, 2026

The analyst said strong spot demand and a weekly close above that level could support gains toward $3,400–$3,500. His analysis also marked initial support near $2,550 and another around $2,200. The chart showed $1,965 as another support level if downward pressure intensifies.

Ethereum Open Interest Climbs to $34.10 Billion The Ethereum derivatives market recorded higher activity, with trading volume increasing 15.17% to $29.02 billion. Open interest rose 1.14% to $34.10 billion, indicating an increase in the value of outstanding contracts.

Source: Coinglass data The volume of options increased by 33.58% to $1.15 billion, the highest increase of the metrics reported. Options open interest rose 1.62% to $6.25 billion, indicating increased options contract values outstanding.

Ethereum Price Analysis The ETH price rallied about 13% from its September price, which was nearly $2,400, and consolidated at around $2,718 on October 5.

The Relative Strength Index registered 57. This positioning suggests a mild bullish tilt.

The MACD line stood at 7.45, above the signal line at 4.71, with a positive histogram reading of 2.73.

A sustained four-hour close above $2,800 could open the way toward the marked resistance level at $2,900. Further gains could bring $3,000 into focus, representing approximately 10.4% upside from the displayed price. 

Source: TradingView Rejection near $2,800 could further extend consolidation, with $2,600 being a key support to watch. Failure of that support would compromise the recovery and might lead to a reversion of the previous trading range from $2,400.

DOGE has recovered from early September lows but remains below $0.10 as one U.S. fund approaches liquidation. A new application testnet supplies an adoption story, though its test activity is not yet mainnet demand. October’s best case requires spot buyers to carry the token beyond its recent high; the worst case revisits the September floor.

Summary

DOGE traded near $0.0955 on October 5, with around 156.2 billion coins circulating. The network’s 10,000 DOGE block reward implies approximately 14.4 million newly mined DOGE per target day. Bitwise expects to convert its fund’s DOGE holdings to cash October 14 and distribute proceeds around October 22. A $0.11 to $0.12 upside range needs roughly 15% to 26% from a $0.0955 reference price. A $0.075 to $0.085 downside range implies a decline of roughly 11% to 21% from that reference. Dogecoin has entered October near $0.0955 after failing to retain a late September move through $0.10. The CoinGecko market snapshot showed about $14.9 billion in circulating value and roughly 156.2 billion DOGE on October 5. The token traded as low as around $0.0817 early in September before reaching a recent high near $0.1056, according to dated market coverage. Its October path is a test of whether buyers can absorb a pullback while a small U.S. fund completes an orderly closure.

The dates are unusually concrete. Bitwise’s SEC notice says the fund plans to convert its dogecoin to cash October 14 and distribute proceeds around October 22. The DogeOS project opened a public testnet at the end of September. Neither a fund closure nor a testnet launch supplies a reliable month end price on its own, and they affect different markets.

JUST IN: DogeOS launches public testnet for its Dogecoin ZK rollup

The network brings EVM smart contracts to Dogecoin, with $DOGE used for gas fees as the project aims to expand utility across the ecosystem. pic.twitter.com/KYM3RHLgP6

— crypto.news (@cryptodotnews) October 1, 2026 The $0.10 line divides a recovery from another failed rally In a September 23 price account, DOGE had regained $0.10 after a 25% weekly advance and traders watched $0.1056 as a nearby high. Earlier September trading data placed the coin near $0.0901 on September 8 and its September 2 low around $0.0817. The October 5 quote lies between those reference points, above the early month low and beneath the later breakout.

At $0.0955, $0.10 is a 4.7% gain. $0.1056 requires a gain of about 10.6%. The first number is a round price marker traders can see; the second was a recent reported high. Neither is a physical barrier. What matters to the upside scenario is whether DOGE holds above them on daily closes with meaningful spot participation, not whether a short lived trade touches them.

The middle case can include violent intraday moves. A coin may cross $0.10 after a bitcoin rally, return below it during an inflation release and still close the month near $0.095. The feature uses October 31 closing ranges so that a fleeting high is not retroactively counted as a successful forecast. Venue and timestamp should be recorded for the final assessment.

CoinGecko showed roughly $502 million in 24 hour trading volume in one October 5 capture and approximately $2.14 billion in perpetual futures open interest. Both are changing snapshots. Gross turnover includes the buyer and seller of each trade; it is not $502 million of net purchases. Open interest measures contracts that remain open, with a long and short side to each. Their relationship is useful for identifying how a move is financed, but neither says who will hold DOGE through the month.

Fixed issuance creates a hurdle, but no daily price target The Dogecoin documentation explains that issuance has no end date but has a finite limit per block and year. A network explainer states the current block reward is 10,000 DOGE and targets one block each minute. Multiplying 10,000 by 60 minutes and 24 hours yields approximately 14.4 million new DOGE per day at the target pace. Thirty days would imply about 432 million DOGE; 31 days about 446.4 million. Actual block timing can differ.

At the $0.0955 reference, a target day’s 14.4 million DOGE has a quoted value near $1.38 million. The 31 day arithmetic gives around $42.6 million of newly issued coins at that unchanged price. These are valuations of issuance, not documented miner sales. Miners can sell, retain, hedge or use the reward, and DOGE price can change during the month. A claim that investors must buy exactly $42.6 million to stop the token falling would invent a one to one flow relationship.

The same arithmetic puts annual target issuance near 5.256 billion DOGE, about 3.4% of the October 5 circulating estimate if that estimate were held constant. The percentage rate declines over time as the existing coin base grows under fixed issuance. It is a measurable supply feature, but it cannot explain an intraday 5% price move without evidence about market orders and depth.

One comparison clarifies scale. Dividing the $1.38 million daily issuance value by CoinGecko’s changing $502 million daily turnover gives roughly 0.27%. Turnover is gross trading and cannot be called new demand, but it shows that trading activity and the dollar value of a target day’s new mining rewards are different magnitudes. A sustained rally still needs buyers to absorb whatever miners and existing holders actually offer; the fixed reward does not predict how many coins either group sells.

The price endpoints make capitalization changes look much larger than the required order flow. At roughly 156.2 billion circulating coins, $0.12 implies around $18.74 billion in quoted circulating value and $0.075 around $11.72 billion. Their $7.02 billion difference is the 4.5 cent price gap multiplied by all outstanding coins. It is not $7.02 billion of cash that must move through exchanges to travel between the prices.

DogeOS has a testnet, not an October usage dividend DogeOS documentation describes an EVM compatible application layer with public testnet access. Its developer pages say the testnet is live while work toward mainnet continues. A late September account of the launch said DOGE is intended as the fee token for the application layer. That is a potential future use case for DOGE, but test tokens and developer deployments cannot be equated to October mainnet fee spending.

The testnet explorer lets readers inspect blocks and transactions. A rising counter there demonstrates testing activity under its rules. It does not disclose the number of production users willing to pay fees with economically valuable DOGE or the amount of native coin they will hold. One developer can produce many test transactions at little or no real economic cost. The project has not supplied an October mainnet activation date in the material reviewed.

The bullish interpretation has a legitimate mechanism. If working applications eventually require DOGE for fees or liquidity, sustained use could add a category of demand beyond payments and speculation. To turn that into an October price claim, a reporter would need evidence of a production launch, a bridge using real DOGE, economically meaningful activity and the number of coins committed. Announcing a testnet establishes none of those conditions for this month.

The bearish interpretation should not erase the technical work. Public tooling, a bridge test and working contracts are development milestones that may reduce execution uncertainty. They do not replace market demand now. A $0.11 October case therefore relies primarily on spot buying and a favorable market rather than counting testnet gas fees as revenue already paid in DOGE.

Bitwise’s liquidation is a dated event with a small known base Bitwise told the SEC on September 10 that it would close BWOW. The company’s filed release sets October 14 for converting the fund’s dogecoin to cash and approximately October 22 for distribution. An earlier crypto.news feature examined why access to listed fund shares had not translated into steady subscriptions. Its September 8 snapshot put BWOW net assets near $722,000 and holdings around 8.2 million DOGE.

At $0.0955, 8.2 million DOGE would be worth about $783,000 if the holding count had remained unchanged. The fund’s actual holdings can change before conversion and the sale price is not known, so $783,000 is only a scale check. Against 156.2 billion circulating DOGE, 8.2 million is roughly 0.0053% of the coin count. Against a $502 million daily trading volume snapshot, its illustrative value is about 0.16%. Neither ratio guarantees that a sale will have no short term price effect; execution venue, timing and order book depth matter.

Equally, the October 14 date is not evidence of a looming market wide liquidation. The fund is one vehicle. Existing shareholders can sell shares before the final trading date, or wait for cash proceeds under its procedures. A fund operator’s conversion of underlying DOGE and secondary trading in its shares are different transactions. Their footprints should not be conflated in a headline.

Other U.S. DOGE products remain, and a closure of BWOW does not ban investors from buying DOGE directly. The editorial distinction is demand, not access. A prior study counted 166 zero flow days among 199 trading days across three DOGE funds as of its dated sample. It showed weak fund subscription activity in that window, not proof that all DOGE holders lost interest or that prices cannot rally without ETFs.

JUST IN: Spot $DOGE ETFs record their strongest week ever

Spot Dogecoin ETF products attracted $2.89 million in net inflows this week, surpassing the previous weekly high of $2.59 million set in January 2026. pic.twitter.com/2RTj3J9R6w

— crypto.news (@cryptodotnews) September 27, 2026 October fund flow evidence should come from issuer holdings or a complete, comparable series. A dollar decline in fund assets can be caused by DOGE’s own price falling even with unchanged holdings. A share count or coin holding change is more revealing for incremental fund demand than assets alone. The closure’s exact sale proceeds will be known only after the event and any subsequent reporting.

The upside case needs buyers beyond the fund channel An October closing range of $0.11 to $0.12 requires a durable move above both $0.10 and the September high near $0.1056. From $0.0955, $0.11 is 15.2% higher and $0.12 is 25.7% higher. A broad crypto advance, especially one in which investors take more risk beyond bitcoin, could make such a move possible. Verified spot volume and higher daily closes would provide more direct confirmation than a one day futures squeeze.

The bullish case can draw on recent behavior. DOGE gained roughly 25% in a week during September’s recovery and briefly moved through $0.10. Large, liquid meme tokens can move more quickly than bitcoin when risk appetite improves. That history shows capacity for a double digit move, not a forecast that the same percentage recurs in October. A buyer who entered near $0.1056 may sell into a rebound and create supply in precisely the area an upside case needs to clear.

A change in futures open interest would need careful reading. From CoinGecko’s $2.14 billion snapshot, an increase in dollar OI can result partly from DOGE itself rising. A perpetual long always has a short counterparty. Funding that becomes persistently expensive can make bullish exposure costly and potentially fragile. For a convincing rally, examine spot buys alongside coin denominated contracts and funding, rather than describe all OI growth as new long investment.

DogeOS can contribute sentiment or future demand expectations, while the Bitwise sale can be absorbed if its size remains near the prior holding snapshot. The upside thesis fails if DOGE repeatedly loses $0.10 after attempts to reclaim it, if spot volume contracts on bounces, or if the wider market sells off through October’s inflation and Fed dates. A close below $0.09 would undercut the suggested path toward $0.11 to $0.12 even if development continues.

The worst case revisits $0.0817 and could test lower The downside October closing range is $0.075 to $0.085. At $0.0955, $0.085 is 11.0% lower, and $0.075 is 21.5% lower. Its upper area includes the early September low near $0.0817; its lower edge allows for a break of that prior level. Neither is a guaranteed floor. A sustained loss of $0.09 followed by failure to defend $0.0817 would support this scenario.

A weaker bitcoin market, higher Treasury yields after inflation data, or continued contraction in DOGE spot demand could contribute. The Bitwise conversion date might add temporary supply, but the known prior fund holding was small relative to circulating DOGE. It cannot fairly be named the cause of a large market decline in advance. Proof would require observing the sale and broader market at the same time.

The fixed reward matters over months and years, but 14.4 million target DOGE per day is not a sudden October unlock. It occurs each day under existing rules. An abrupt drop needs an abrupt change in the willingness to buy or hold at prevailing prices, a market shock, concentrated selling or leverage pressure. Treating normal issuance as a surprise catalyst would confuse a continuous mechanism with a dated event.

An earlier summer drawdown documented DOGE below $0.09 after a steep monthly decline. That history argues against assuming $0.08 cannot break. It does not forecast a return to its June lows, because the October market has different holders, liquidity and macro conditions. The proposed $0.075 lower edge is a scenario for a failed September support test, not a claim that June must repeat.

The downside interpretation weakens if DOGE closes and holds above $0.1056 with demonstrable spot buying and a stronger wider market. A temporary wick to $0.0817 that reverses before month end would not meet a downside closing scenario. A closing price and the path to it are separate observations.

The middle case depends on the wider market An $0.085 to $0.11 month end band covers both an unsuccessful return through $0.10 and a limited recovery that stops before $0.11. The band is deliberately wide because DOGE has already moved from about $0.0817 to $0.1056 during the September window. It is not a confidence interval generated by a model.

The Federal Reserve meets October 27 and 28; September consumer inflation is due October 14 and PCE October 29. These dates may change the appetite for speculative exposure across crypto. A DOGE move that occurs alongside similar percentage moves in bitcoin and other large tokens should be read differently from a DOGE specific surge with no comparable market change. A fund liquidation and a testnet launch cannot explain every broad market session.

The middle case would be undermined by repeated closes above $0.11 or below $0.085 with corresponding volume. A short move through either price intraday need not invalidate a month end range. Traders can respond to scheduled information immediately and reverse once liquidity returns. The issue for an October prediction is which participants still hold coins on October 31.

CoinGecko’s roughly $14.9 billion market value at $0.0955 gives a final scale check. At $0.12 and constant circulating supply, it would be near $18.7 billion; at $0.075, around $11.7 billion. Those figures are snapshots of quoted value, not sums of money invested or withdrawn. The same logic applies to fund asset changes and futures notional.

What the evidence cannot settle today The Dogecoin reward schedule is confirmed by the network’s documentation. Bitwise’s liquidation dates are stated in its filing. DogeOS testnet is verifiable through its published tools. CoinGecko’s price and OI are dated, moving aggregates. The $0.11 to $0.12 and $0.075 to $0.085 ranges are this article’s conditional interpretations of market markers, not protocol or issuer forecasts.

The public information does not identify the next large DOGE buyer, quantify what portion of new mining rewards miners intend to sell, or prove that a testnet participant will spend real DOGE on mainnet. An ETF closure proves weak economics for one product at a stated size. It does not prove that a direct DOGE holder is about to sell. Those limits are necessary before assigning a causal story to a fast price move.

The first scheduled fund conversion is October 14, according to Bitwise’s SEC notice. Its planned cash distribution follows around October 22. DOGE trading through those dates, together with published fund holdings, can test whether the closure had a measurable footprint.

JUST IN: Dogecoin announces full corporate restructuring and rebrands as DogeCoin Financial Solutions LLC™, retiring the Shiba Inu logo for a navy blue emblem pic.twitter.com/DDBR1eEYam

— crypto.news (@cryptodotnews) April 1, 2026 What to watch The $0.10 and $0.1056 levels: Check for sustained daily closes above both alongside cash market volume.

The $0.0817 September low: A sustained break below it would support the lower October scenario.

Bitwise’s October 14 conversion: Verify actual timing, holdings and sale information before attributing a broader price move to the fund.

Spot and perpetual markets: Compare dated spot volume, open interest in DOGE units and funding when price moves quickly.

DogeOS progress: Distinguish publicly visible testnet use from a production launch that requires economically valuable DOGE.

FAQ What is the Dogecoin price prediction for October 2026? The illustrative upside close is $0.11 to $0.12, the middle range is $0.085 to $0.11, and the downside is $0.075 to $0.085. Each requires the price and demand conditions described above; none has a numerical probability.

What was DOGE worth at the start of this analysis? The October 5 CoinGecko reference was approximately $0.0955. Percentage changes use that rounded quote and should be refreshed at publication if price changes significantly.

Can Dogecoin reach $0.12 in October? From $0.0955, $0.12 needs a rise of about 25.7%. Sustained closes through $0.10 and the recent $0.1056 high with spot participation would support that case.

Could Dogecoin fall below $0.08 again? Yes. A sustained loss of $0.09 and then the September low near $0.0817 would bring the $0.075 to $0.085 downside range into view. A past low is not guaranteed support.

How many new DOGE are mined each day? The 10,000 DOGE reward and one minute target imply roughly 14.4 million DOGE a day. Actual block timing can differ, and newly mined coins are not necessarily sold immediately.

When does Bitwise close its Dogecoin ETF? Bitwise scheduled conversion of BWOW’s DOGE holdings to cash for October 14 and distribution to remaining shareholders around October 22. The fund’s earlier holdings were small compared with circulating DOGE.

Is DogeOS live on Dogecoin mainnet? Its public testnet is live, according to DogeOS’s documentation. Test transactions do not establish fee demand using economically valuable DOGE on a production application layer.

Are the DOGE price scenarios financial advice? No. They are conditional October closing ranges tied to observable price, network and fund events. Each can be invalidated by later trading and disclosures. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 5, 2026.

Cardano (ADA) traded near $0.273 on October 5, reaching an intraday high of $0.2734, while its 24-hour trading volume approached $1 billion. This puts Cardano above the $0.26 mark, a resistance level that had previously limited the cryptocurrency’s recovery in recent weeks.

New partnerships drive Cardano ecosystemThe rally comes after a series of positive developments for the Cardano ecosystem. The Cardano Foundation, the non-profit organization supporting Cardano’s global adoption and development, recently unveiled two new collaborative projects with Petrobras, the major Brazilian energy company. Both initiatives will use Cardano’s blockchain network to verify sustainability data for aviation fuel and renewable diesel, building on an existing relationship between the two entities.

In addition to institutional expansion, Cardano also secured new technical integrations. Fireblocks, a digital asset custody platform widely used by institutional investors, added support for Cardano Native Tokens. The network previously integrated x402 to enable automated payment solutions managed by artificial intelligence agents.

These updates have contributed to improved sentiment among investors and developers, fueling optimism about Cardano’s future prospects.

Mini dictionary: Fireblocks, a secure digital asset custody and transfer platform, allows institutions to safely manage and move cryptocurrencies and tokens across multiple networks.

Technical signals and futures marketsADA’s immediate technical outlook improved as the asset surpassed the $0.263 threshold. Market analysts have pointed to this level as a key pivot area for further gains.

Vishal Dixit from FXStreet observed that Cardano’s futures open interest climbed about 15% in the previous 24 hours. Simultaneously, positive funding rates implied that traders were broadly positioning for continued upside in ADA.

According to Dixit, if the breakout is sustained, ADA could target $0.30 as its next key resistance, with further momentum likely if buyers maintain control above the $0.275 area.

Other technical readings identify the critical continuation point at approximately $0.2679, while resistance stands near $0.275. A daily close above these areas may open the way for a move toward the $0.28–$0.30 zone, though a retracement below $0.258 would call the current rally into question.

Market tracker Coinpaper also highlighted $0.30 as the next significant liquidity level, should ADA successfully hold above the $0.25–$0.27 range.

LevelSupport/ResistanceSignificance$0.258SupportBreakout at risk if breached$0.263PivotKey breakout point$0.2679ContinuationCrucial for sustained rally$0.275ResistanceUpper boundary before $0.30$0.30Liquidity AreaMajor upside targetOn-chain data and network sentimentDespite the increase in ADA’s price and derivatives activity, Cardano’s decentralized exchange (DEX) volumes remain subdued. On October 3, Cardano DEX transactions dropped to roughly $5.72 million, indicating that the price rally has not been matched by heightened on-chain activity.

This divergence between rising prices and weaker DEX volume underscores the importance of futures positioning, with elevated open interest amplifying potential upside but also increasing the risk of rapid reversals if momentum fades.

Since June, Cardano’s network sentiment has gradually improved after an earlier governance setback, strengthening both developer engagement and broader ecosystem confidence despite mixed trading signals.

TLDR TRX traded near $0.335 on October 5 after spending most of September between $0.325 and $0.345. TRON holds about $95.8 billion in stablecoins, while circulating TRX is worth about $31.8 billion. Canary’s TRXS fund had 2.03 million shares outstanding on October 2, the same as on September 15. A move to $0.38–$0.40 would need a 13% to 19% gain, and a drop to $0.29–$0.31 would mean a 7% to 13% fall. September CPI is due October 14, the Fed meets October 27–28, and PCE inflation data comes October 29. TRON’s TRX token traded near $0.335 on October 5. Daily closes spent much of September between about $0.325 and $0.345, which kept the price in a tight range.

Data from CoinGecko put the value of circulating TRX at roughly $31.8 billion. DeFiLlama showed about $95.8 billion in stablecoins on the TRON network.

Those two numbers measure different things. The stablecoin figure counts tokens issued on the chain, not money spent buying TRX.

TRON is a major network for USDT transfers. A second-quarter report put USDT transfer value at $2.1 trillion for that quarter.

Transfer totals count each time a dollar moves, not new money entering the chain. A dollar of USDT moved does not require a dollar of TRX to be bought.

Users can stake TRX to get network resources called Energy and Bandwidth, or they can burn tokens to pay fees. Some wallets now let users pay fees in USDT.

JUST IN: TRON averages 4.41M daily active accounts

The $TRX network has maintained an average of 4.41 million daily active accounts over the past 30 days. pic.twitter.com/uuwJxB3XtS

— crypto.news (@cryptodotnews) October 4, 2026

ETF Shares Have Barely Moved The Canary Staked TRX ETF began trading under the ticker TRXS on September 9. The fund aims to track TRX and earn staking rewards.

Shares outstanding stood at 2.01 million at launch and 2.03 million on September 15. The count stayed at 2.03 million on every reported day through October 2.

Net assets were about $50.23 million on October 2, down slightly from $50.26 million on September 16. That equals about 0.158% of TRX’s market value.

TRON DAO marked the launch with a Cboe closing bell event on September 29. A rise in shares outstanding would show new demand for the fund.

TRONSCAN data shows TRX supply grew at an average yearly rate of 0.31% from August 30, 2025, to October 3, 2026. Daily changes depend on how many tokens are created and how many are burned.

On September 9, about 3.91 million TRX were generated and 2.58 million were burned. That left a net increase of about 1.33 million tokens for the day.

Price Levels in Focus A move to $0.38 would need a 13.4% gain from $0.335. Reaching $0.40 would need a 19.4% rise and would value circulating TRX near $38 billion.

Tron Price on CoinGecko A lasting break above $0.35 with higher trading volume would mark a move out of the recent range. A close below $0.32 after a breakout attempt would undo that path.

On the downside, $0.31 sits 7.5% below the current price and $0.29 is 13.4% lower. That case would require a lasting drop below the $0.32 to $0.325 area.

An October close between $0.32 and $0.36 would mean the token keeps trading in a narrow band.

Seven TRON addresses were recently sanctioned in a U.S. action. The designation applies to those addresses, not to the whole network or to TRX trading.

Macro data is also on the calendar. September CPI is due October 14, the Federal Reserve meets October 27 and 28, and PCE inflation data follows on October 29.

Altcoins

5 October 2026 | 11:59 Hyperliquid’s buyback model has received its first reported contribution from a source other than trading fees: yield earned on USDC reserves held in its ecosystem. The payment, worth about $14.58 million in USDC, is the first test of whether the protocol can turn stablecoin balances into recurring funding for HYPE purchases.

The reported payment shows that Hyperliquid’s AQAv2 reserve-income arrangement has started producing funds but it does not, by itself, show that $14.58 million of HYPE has already been bought or burned.

Crypto Briefing reported on October 3 that the first payment was awaiting transfer to Hyperliquid’s Assistance Fund. The next stages remain important: the USDC must reach that fund, be used through the protocol’s buyback process, and result in HYPE being removed from circulation.

Reserve income is paid in USDC. The Assistance Fund receives the funds under the AQAv2 schedule. HYPE purchases and burns are separate on-chain events. AQAv2 gives Hyperliquid a second source of funding Hyperliquid’s established buyback engine is tied to trading activity. Its fee documentation says the Assistance Fund automatically converts trading fees into HYPE, which is then burned. Higher trading volume can therefore produce more buyback funding, while quieter markets can reduce it.

AQAv2 changes the mix by adding income connected to USDC balances rather than trading volume. Under the Aligned Quote Asset v2 framework, the treasury deployer for a qualifying stablecoin shares approximately 90% of cost-adjusted reserve-yield revenue with the protocol.

That wording is narrower than it first appears having in mind that the 90% share applies after the costs defined by the arrangement have been taken into account; it does not mean Hyperliquid receives 90 cents from every gross dollar generated by USDC reserves.

The protocol documentation also sets a 30-day payment cycle. Revenue is sent to the Assistance Fund eight days after an interval ends, giving the system a defined route from reserve yield to the fund that supports HYPE buybacks.

Circle’s role is technical, not the same as the treasury role Circle has described itself as the technical deployer for USDC on Hyperliquid. That role covers infrastructure for minting, redemption and cross-chain transfers, helping USDC move between the relevant parts of the Hyperliquid ecosystem.

It should not be confused with the separate treasury-deployer role that shares reserve-yield income under AQAv2. The distinction affects how the arrangement should be read: a technical provider keeps the stablecoin rails operating, while the treasury arrangement governs how reserve income is allocated.

The new income source has different strengths, and different dependencies Reserve income can keep accruing when trading cools, provided users continue holding USDC in the ecosystem and the underlying reserves continue earning yield. That gives Hyperliquid a funding route that is not entirely dependent on traders opening and closing positions.

It is not fixed revenue, however. The amount can change with USDC balances, the applicable reserve yield and the terms of the AQAv2 framework. A decline in stablecoin deposits or interest rates could reduce future payments even if Hyperliquid’s trading activity remains steady.

The arrangement therefore diversifies the buyback model rather than replacing the fee-based one. Trading fees remain tied to market activity; reserve income depends more heavily on the scale of USDC held within the platform and the yield available on those reserves.

Why the first payment should not be annualized too quickly The reported $14.58 million figure has prompted estimates of a much larger annual contribution. A simple annualization can be useful as a rough illustration, but it assumes that the USDC balance, interest-rate environment and AQAv2 terms remain broadly unchanged for a full year.

Those assumptions may not hold because Hyperliquid can gain or lose USDC balances, reserve yields can move with market rates, and the payment cycle itself needs to operate consistently over more than one interval before it can be treated as a durable revenue pattern.

The better question is not whether the first payment produces an eye-catching annual figure. It is whether subsequent intervals continue to produce funds that reach the Assistance Fund and become observable HYPE purchases and burns.

What confirms the model from here The first payment establishes the starting point. Its significance will depend on what follows: the transfer of USDC into the Assistance Fund, the size and timing of HYPE purchases, and whether future payments arrive under different market conditions.

Follow the flow of funds, not the headline estimate A reserve-yield payment can support HYPE buybacks, but it is only the first part of the process. Completed transfers and completed burns will show how much of that potential has become actual token demand and supply reduction.

For now, AQAv2 gives Hyperliquid a second potential route to funding HYPE buybacks. The first reported payment shows the route has begun operating; repeated payments and completed purchases will show whether it becomes a meaningful part of the protocol’s long-term model.

This article is for informational purposes only and does not constitute investment advice. Reported payments, protocol rules and market conditions may change.

Author

Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 5,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.

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.

Bitcoin maximalist and JAN3 head Samson Mow has publicly challenged the sustainability of Zcash's current parabolic rally. Commenting on the ZEC/USDT chart, where the coin corrected to $1,300 after recently surging to a peak near $1,600, Mow focused on the asset's year-to-date performance.

You Might Also Like

He said the privacy coin's market capitalization had been artificially inflated and that the market faced an inevitable return to the mean.

HOT Stories

What Bitcoin maximalists think is wrong with ZcashIn Mow's view, there simply isn't enough speculative capital in the market to keep Zcash among the top 10 cryptocurrencies at a valuation above $22 billion after its rise of more than 1,000% since the start of the year. 

JAN3's head and other Bitcoin proponents traditionally view projects like this as redundant. They argue that Bitcoin layer-2 solutions, such as the Lightning Network, already provide the necessary level of privacy.

You Might Also Like

Among ZEC's main fundamental flaws, maximalists point to the historical "dev tax," high fund fees (2.5% at Grayscale) and the overall centralization of its governance. They also cite past staffing crises at Electric Coin Company. The criticism comes amid Mow's own ambitious forecast: drawing on its internal OMEGA60 model and algorithms such as Power Law, his company expects Bitcoin to reach $1 million around 2028–2033. 

From this perspective, diverting liquidity to altcoins is considered strategically unwise, since sovereign adoption could push BTC to that level significantly faster than the models predict.

Zcash (ZEC) perpetual contract weekly price chart on TradingView showing the late 2026 rally and recent pullback, Source: TradingViewZcash supporters, however, attribute the coin's current 1,077% gain over the past 12 months to real infrastructure changes that run counter to their critics' skepticism. On October 4–5, developers activated the NU7 upgrade on testnet, which is expected to make block generation three times faster. 

You Might Also Like

ZEC's liquidity has also been supported by the recent launch of pools on THORChain and a $306 million inflow into Grayscale's spot ETF, although the fund recorded its first major outflow this week, at $93 million.

This technological optimism is now clashing with regulatory pressure. The coming weeks will show whether the coin can hold in the $1,280–$1,330 range or whether the market will prove the maximalists right and trigger a major correction in the rally.

October 5, 2026 – Users can now access the Monero network through the THORWallet app, with support for core functionality including sending and receiving XMR.

The integration goes beyond basic wallet functionality. Users can create and manage multiple Monero accounts derived from the same wallet seed, providing greater flexibility when managing their activity across the network.

THORWallet also gives users the ability to configure their own Monero node. Users who prefer to interact with a specific node can configure it directly within the wallet, ensuring their Monero activity is routed through that node. For everyone else, THORWallet provides a default node for communicating with the Monero blockchain. THORWallet runs a light weight implementation: your keys, balances and transaction history are computed and stored on your device and never leave it.

Cross-chain Monero swaps are comingThe next major step for the integration is native cross-chain swapping.

Monero support on THORChain is currently being tested and audited. Once it goes live, THORWallet’s Monero integration will be production ready for native XMR cross-chain swaps directly within the app.

This will allow users to swap between Monero and assets such as Bitcoin, Ethereum and others without relying on centralized exchanges or custodial intermediaries.

For example, a user will be able to swap XMR directly to BTC, or BTC to XMR, stablecoins, SOL, ZEC and more through decentralized cross-chain infrastructure while remaining in control of their assets throughout the process.

With the Monero integration now underway and cross-chain swaps approaching production, THORWallet moves another step closer to its goal of becoming a one-stop shop for DeFi.

App linkWebsite: https://www.thorwallet.org/

About THORWallet
THORWallet is a self-custody, multi-chain DeFi superapp—featuring native cross-chain swap routes across 20,000+ tokens, a Swiss account with a global Mastercard, yield opportunities, and multisig vaults. All chains. All yield. One app. Your keys never leave your device.

This publication is provided by the client. The text below is a paid press release that is not part of Cointelegraph independent editorial content. The text has undergone editorial review to ensure quality and relevance, it may not reflect the views and opinions of Cointelegraph. Readers are encouraged to conduct their own research before taking any actions related to the company. Disclosure.