Společný podnik OKX ICE chystá nepřetržité obchodování s tokenizovanými akciemi více než 60 společností na síti XLayer prostřednictvím povolených poolů Uniswap v4.
OKX and New York Stock Exchange parent Intercontinental Exchange are preparing to launch a 24/7 venue for trading tokenized US stocks, according to a regulatory notice filed by their joint venture.
OKXICE, a 50-50 joint venture between ICE and OKX’s US parent, submitted a public notice dated October 4 detailing plans to operate a Tokenized Securities Venue under the Securities and Exchange Commission’s recently introduced innovation exemption.
The venue plans to make tokenized shares of more than 60 companies available around the clock, including Nvidia, Apple, Microsoft, Amazon, Tesla, Coinbase, Robinhood, Circle, Strategy, JPMorgan and SpaceX.
Trading will take place through permissioned Uniswap v4 automated market maker pools deployed on OKX’s XLayer blockchain. Each stock will trade against USDC, USDG or USDT rather than through a traditional order book.
The system will remain permissioned despite running on a public blockchain. Investors must complete identity verification, anti-money laundering and sanctions screening before receiving a non-transferable soulbound token that authorizes their wallet to interact with the venue. That authorization is checked before trades, transfers and liquidity actions.
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OKXICE will not custody customer assets or extend credit. Investors instead trade through self-custodial wallets, while transactions settle atomically on XLayer without a clearing agency, central counterparty or netting process.
Where a stock is tokenized by a third party rather than the issuer, a registered broker-dealer must hold the underlying shares one-for-one against the outstanding tokens.
The tokens must provide holders with the same economic rights as the underlying stock, including dividends, voting rights and a claim on residual assets in a liquidation.
The structure was made possible by an SEC order issued September 17 that grants qualifying Tokenized Securities Venues a five-year conditional exemption from registration as an exchange.
The regulator also provided conditional dealer exemptions for certain firms supplying liquidity to the AMM pools.
The exemption does not amount to the SEC individually approving OKXICE. The venue must comply with conditions covering shareholder rights, trading volumes, public smart contracts, issuer objections and trading halts, and the SEC can take enforcement action if it operates outside those conditions.
Companies also retain the ability to prevent unaffiliated third parties from tokenizing their shares for trading on a TSV. Cerebras Systems has already submitted an issuer objection to OKXICE, according to the filing. okice The SEC’s exemption requires issuers to receive advance notice and an opportunity to object before third-party-tokenized shares begin trading.
The filing builds on a partnership between OKX and ICE announced earlier this year. ICE invested in OKX in March at a $25 billion valuation, with the companies outlining plans to connect OKX customers with ICE futures and NYSE tokenized equity markets. They subsequently created the 50-50 joint venture in June to develop regulated blockchain-based financial infrastructure. Intercontinental Exchange
The move also puts OKXICE into a broader race among established exchanges and crypto companies to extend US equity trading beyond traditional market hours. Reuters reported that the NYSE, Nasdaq and London Stock Exchange are all working on initiatives aimed at expanding round-the-clock trading.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Dne 4. října 2026 dosáhl Internet Computer rekordních měsíčních příjmů on-chain ve výši přes 360 000 USD, podpořených rostoucí spotřebou cyklů pro chytré kontrakty.
Revenue Climbs to New High as Network Activity GrowsThe Internet Computer Protocol, developed by @dfinity, recorded a new all-time high in monthly onchain revenue on October 4, 2026, with figures surpassing $360,000. Live data at the time showed a consistent 1.10% daily increase, pointing to sustained and growing demand for the network's computational resources.
The milestone is closely tied to rising consumption of "cycles," the fuel that powers smart contract execution on the Internet Computer. Cycles act as the computational resource used to execute actions on the network, with canister smart contracts consuming resources in the form of CPU cycles for execution, bandwidth for routing messages, and memory for persisted data. ICP tokens are converted into cycles, which are then used by developers to pay for installing smart contracts and for the resources those contracts consume, including storage, CPU, and bandwidth.
The revenue uptick follows a broader period of network growth. In the week ending September 29, 2026, the network generated over $85,000 in protocol revenue, a metric tied directly to computation and storage consumed by applications. The jump to more than $360,000 in monthly revenue suggests that pace accelerated materially through early October.
How the Cycles Model Drives RevenueUnlike most blockchains, where end users pay gas fees directly, the Internet Computer uses a reverse gas model in which developers pre-pay costs by loading canisters with computation cycles, meaning users can interact with a decentralized application without needing tokens or dealing with seed phrases. The ICP token is the only token that can be used to purchase cycles and fuel smart contracts for computation. When ICP is used to purchase cycles, it is burned and removed from circulating supply, creating a deflationary mechanism for the token.
The network has been building momentum across multiple metrics in 2026. The network reached one billion transactions in Q1 2026 and supports roughly 980,000 deployed canister smart contracts with 1.24 million active wallets. A record onchain revenue figure adds a key financial dimension to that broader activity picture, signalling that usage is not just growing in volume but also translating into real economic output for the protocol.
For $ICP holders and ecosystem participants, the revenue record reinforces the network's argument that onchain computation at scale is a viable and expanding business, even as the token itself continues to trade well below its 2021 all-time high.
Sources:
DFINITY Support: What are cycles on the Internet Computer?
Internet Computer: Tokenomics and the Cycles Model
Crypto News Navigator: Internet Computer Hits 1 Billion Transactions in Q1 2026
The attacker sent the money back less than a day after NEAR Intents’ general manager posted “We have identified you, sir” along with addresses to return it to.
NEAR Intents recovers $3.8 million and closes hack probe
Posted October 5, 2026 at 5:42 am ET.
NEAR Intents, the cross-chain trading protocol hit by a $3.8 million exploit on Oct. 1, got all of the money back from the attacker on Friday and closed its investigation.
“The funds from the $3.8M NEAR Intents hack were sent back in full,” general manager Alex Shevchenko wrote on X. “We are stopping the investigation.”
The return came roughly 14 hours after Shevchenko called out the attacker in public and posted Bitcoin, BNB/Ethereum and Solana addresses for the funds. “We have identified you, sir,” he wrote, telling the attacker they knew “better than most how responsible disclosure works” and had 48 hours to use it.
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Funds Came Back Onchain The Bitcoin address Shevchenko listed took in about 34.6 BTC over several transfers between 14:31 and 15:05 UTC on Friday, according to blockchain data. That did not cover the whole loss. An onchain researcher who goes by Kuncoro estimated the bitcoin was worth about 78% of the $3.8 million and asked whether the rest came back another way. “You are right. It did indeed,” Shevchenko replied, without saying how.
About an hour after the bitcoin arrived, a transaction to the BNB/Ethereum address carried a note in its data field: “We’ve returned all the funds, we were in the wrong.”
NEAR co-founder Illia Polosukhin said the team identified “the party responsible less than 24h after the hack, established communication, and got the funds back in full” at 14:30 UTC. He credited SHIELD, the AI security layer on Intents, “along with some aggressive detective work.” Asked who did the tracing, Shevchenko answered “Internal team.” Neither executive detailed how the attacker was found.
A Bug in Omni Deposits and Withdrawals NEAR Intents halted its services on Oct. 1, blaming “a bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.” It pledged to make affected users whole and said a detailed report would follow.
Polosukhin wrote that day that the flaw was confined to USDT on BSC and was patched in under an hour, and that the NEAR blockchain and its token were unaffected. He said Intents handles more than $4 billion a month in trading and payments, and called this its first major exploit.
The hack hit days after NEAR Intents blocked stolen Bitget funds from moving through the protocol.
Shevchenko asked hackers to “use bug bounties instead of disrupting the services,” and Polosukhin echoed him. “They exist for a reason,” he wrote.
Related Listen: How Bitget Is Chasing $388 Million in Stolen Funds After a Zero-Day Hack
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
XRPL’s stablecoin market capitalization climbed to approximately $1.32 billion as of October 3, according to data from DefiLlama. The figure marks a 14.6% increase over seven days, as $169 million was added to the network’s stablecoin supply. This growth has brought XRPL close to Avalanche and Plasma in the ranking of blockchains by stablecoin capitalization.
RLUSD’s increasing dominanceRipple’s RLUSD stablecoin continues to dominate the XRPL network, representing just over 93% of all stablecoin value held there. Snapshot data for October 3 indicated about $1.24 billion of RLUSD on the ledger, with only minor fluctuations in its share since then. RLUSD’s rise has sharply accelerated in 2024.
In June, XRPL overtook Ethereum as the largest network for RLUSD, with approximately $801 million of the stablecoin held on XRPL at that time. RLUSD circulation has since surpassed $2.4 billion, backed by reserves in excess of $2.53 billion. Ripple stated RLUSD remains fully backed by segregated cash and cash-equivalent reserves and can be redeemed 1:1 for U.S. dollars.
Ripple documentation emphasizes that RLUSD is always backed by segregated, liquid reserves and is available for direct redemption at par value for the U.S. dollar.
The distinction between key components of the network is important: RLUSD is the stablecoin issued by Ripple, while XRP continues as the native digital asset powering the XRP Ledger.
Stablecoin integration and network infrastructureOn XRPL, RLUSD is issued using the ledger’s native token infrastructure. Accounts seeking to hold RLUSD must establish trust lines for the stablecoin, and transactions involving RLUSD settle through the XRP Ledger itself. Additionally, setting up a trust line for RLUSD requires maintaining an XRP account reserve, integrating XRP’s utility into the stablecoin’s circulation mechanics.
Although the growing adoption of RLUSD on XRPL raises overall network activity, each new issuance of the stablecoin does not directly translate to equal demand for XRP. The reserve requirement creates a connection but not a one-to-one correlation between RLUSD’s growth and XRP’s transactional demand.
Mini dictionary: DefiLlama – A leading data platform tracking decentralized finance metrics, including blockchain TVL (Total Value Locked) and stablecoin capitalization across protocols.
Shifting usage on the XRP LedgerCoinpaper previously reported that the introduction of RLUSD, alongside assets like FXRP and native lending solutions, is expanding XRPL’s role beyond traditional payments. The latest stablecoin growth further supports this trend, as the network now hosts substantial dollar-denominated liquidity in tandem with XRP settlement functions.
BlockchainStablecoin Supply (Approx.)Main StablecoinRecent 7-Day ChangeXRPL$1.32 billionRLUSD+14.6%AvalancheNear XRPL levelVariesN/APlasmaNear XRPL levelVariesN/AThese developments reflect XRPL’s strengthening position in the blockchain ecosystem and indicate that stablecoins, led by RLUSD, are likely to play an increasingly central role on the network in the months ahead.
Čistý příliv kapitálu do ETF zaměřených na Solanu minulý týden klesl o 98,7 % z 188,22 milionu USD na 2,43 milionu USD, přesto zůstal kladný již čtrnáctý týden v řadě.
Solana’s price hovered around $120 on Monday after posting gains over four consecutive sessions, facing pressure from a sharp contraction in ETF demand. The cryptocurrency, which powers the Solana blockchain known for its high-speed decentralized applications and low transaction costs, has maintained a mildly bullish chart structure, staying above key moving averages even as investor flows slow.
ETF inflows see steep declineData from CoinGlass shows that Solana-centric exchange-traded funds attracted $2.43 million in net inflows last week, a dramatic fall from the $188.22 million seen the previous week. This represented a 98.7% decrease, signaling a significant pause in fresh allocations, even as the streak of positive weekly inflows extended to a 14th week.
The decline in new ETF investment does not reflect overall withdrawals, but marks a clear reduction in additional capital entering these funds. Investors are now watching for signs of whether this slowdown is temporary or signals a longer-term moderation in demand for Solana ETFs.
Despite the slowdown, fresh ETF investments managed to stay positive, though at sharply reduced levels compared to the previous week’s surge.
It is important to note that ETF activity reflects only one segment of investment in SOL. Other channels—including centralized and decentralized exchanges—play a significant role in overall trading volumes.
PeriodSolana ETF InflowsLast week$2.43 millionPrevious week$188.22 millionRobust network activity supports price actionDespite weakening ETF demand, Solana’s network activity remains strong. According to data published by SolanaFloor, decentralized exchange volume on the Solana network on Sunday surpassed the combined trading volume of Ethereum mainnet, Ethereum Layer-2 solutions, and Hyperliquid. This comparison underscores notable engagement and traction among users.
SolanaFloor also reported over $4.4 billion in tokenized-stock trading volume on the Solana blockchain, reflecting the rapid growth of blockchain-based avenues for gaining exposure to traditional assets. However, the specific time frame for this figure was not disclosed, so it should not be misconstrued as indicative of daily activity. The one-day DEX volume lead was noteworthy, but not necessarily a lasting trend.
Mini dictionary: SolanaFloor, an analytics platform that tracks metrics related to the Solana blockchain, focusing on DeFi, NFT, and network statistics.
Together, decentralized trading and tokenized-equity volumes suggest ecosystem users remain active, cushioning the broader market impact of reduced ETF inflows.
Technical structure: Triangle pattern guides outlookChart analysis on the four-hour and daily intervals shows SOL trading above its 50-, 100-, and 200-period exponential moving averages, located near $119.24, $116.43, and $110.44 respectively. Current price action is contained within a symmetrical triangle pattern, marked by support at around $119.16 and resistance at $123.
Momentum indicators remain moderately constructive, with the Relative Strength Index (RSI) positioned near 54, and the Moving Average Convergence Divergence (MACD) indicator slightly positive. This setup supports a modestly bullish bias for the near term rather than signaling a robust rally.
Key resistance levels are identified at $123 and the September high of $124.95, while Fibonacci projections suggest a potential short-term target of $132.87 should a breakout occur.
If bulls succeed in lifting SOL above resistance and sustaining those gains, the technical outlook may strengthen. Conversely, immediate support in the $118.71 to $119.25 range coincides with the cluster of moving averages and trendline support. Should price fall below this area, bears may target the 100-period EMA at $116.43, followed by the 200-period EMA at $110.44.
While Solana retains a mildly bullish technical profile, its next significant move will hinge on whether buyers can maintain support and attract renewed demand above key breakout zones.
BONK Posts Double-Digit Gains as Solana Memecoins Regain AttentionBonk ($BONK) is showing renewed strength, gaining 16% over the past week and 30% across the previous two weeks, according to @BSCNews. The Solana-based memecoin, identified onchain by the address DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263, has been one of the more resilient assets in the Solana ecosystem through a period of heightened volatility across crypto markets.
BONK launched in December 2022, arriving shortly after the collapse of FTX rattled confidence across the Solana network. Rather than conducting a traditional sale, its creators distributed 50% of the total token supply via airdrop to Solana community members, positioning BONK from the start as a community-first project during one of the sector's more difficult stretches.
Today, BONK has moved well beyond its memecoin origins. The project now counts more than 350 onchain integrations, a figure that reflects how far it has extended its reach since launch.
LetsBonkfun Emerges as a Leading Solana Memecoin LaunchpadOne of the more significant developments in the BONK ecosystem has been the rise of LetsBonkfun. The platform is a memecoin launchpad built by the BONK community in partnership with decentralized exchange Raydium, launched in April 2025. It went on to surpass then-market leader Pumpfun in both usage and revenues by July 2025.
LetsBonkfun's share of Solana's launchpad market grew from 13% to over 78% within a single month in July 2025. Revenues generated by the platform are used to buy back BONK tokens as well as the top 11 tokens launched through it. Within three months of launch, the platform had seen over 235,000 tokens created and 2,795 projects graduating to major DEXs, with instant listings on Raydium and Jupiter. The buyback mechanism ties platform activity directly to BONK's token economics, giving holders an additional incentive beyond pure price speculation.
Whether the current momentum holds will depend in large part on conditions across the wider Solana ecosystem.
The canonical version of Shiba Inu (SHIB) has officially launched on the Solana blockchain, marking a significant expansion of one of Ethereum’s largest assets. This rollout, driven by the Sunrise bridge, resulted in a swift and measurable financial uptick for SHIB’s price and ecosystem.
Following the announcement, TradingView data showed the RSI indicator forming a bullish divergence, suggesting strong upward momentum. SHIB rebounded from a local low near $0.000055, rising to test resistance zones at $0.0000588 and $0.0000598. The token recorded a 3.89% daily gain and 2.69% weekly increase amid a surge in liquidity.
SHIB’s rapid rise was attributed to the cheaper trading routes available on Solana, with transaction fees averaging just 0.000005 SOL, a level seen as highly attractive for retail traders compared to Ethereum’s often higher costs.
Despite the token’s migration to a new chain, the original supply of SHIB as an ERC-20 asset remained unchanged, preserving its integrity for existing holders.
Cross-chain technology boosts momentumSunrise, a protocol focused on bridging major assets from Ethereum to Solana, previously demonstrated the market potential of such transfers. Two weeks earlier, the canonical PEPE token debuted on Solana through the Sunrise infrastructure, with immediate effects. In the first 48 hours post-launch, PEPE increased 5% to 8%, moving beyond its established price range of $0.0000036 to $0.0000038.
Within days, a surge in buying activity triggered a short squeeze, liquidating over $2 million in short positions on PEPE. At the rally’s peak between September 21 and 22, PEPE reached values between $0.0000051 and $0.0000054, representing a 40% gain since the beginning of the month and sending its market capitalization above $2 billion.
Although the price corrected in October to the $0.0000043–$0.0000045 range, PEPE maintained gains well above its levels prior to Solana integration.
Mini dictionary: Sunrise bridge – A protocol enabling the migration of major digital assets, such as SHIB and PEPE, from Ethereum to Solana, facilitating cross-chain liquidity and lowering transaction costs.
TokenIntegration DateInitial Price RangePeak Price Post-Integration% GainShort Positions LiquidatedPEPESeptember 18$0.0000036–$0.0000038$0.000005440%$2 millionSHIBSeptember (exact date not specified)$0.000055 (local low)$0.00005983.89% (daily)Not reportedBroader effects on Solana ecosystemSunrise deploys tokens using the Wormhole NTT standard, which allows instant, integrated access to Solana’s core platforms such as the Jupiter aggregator, Raydium decentralized exchange, Phantom wallet, and Kamino DeFi protocol. This move is reshaping trading patterns on Solana, increasing competition for liquidity and attention among native projects.
The influx of high-profile tokens with large investor communities has led to shifts in trading activity. For instance, BONK, a Solana-native token, experienced a decline in trading volume following delistings from several Asian exchanges and the arrival of major Ethereum assets via Sunrise.
Members of the SHIB community have described this expansion as opening a “second front,” emphasizing continuity with their slogan “Different chain. Same dog.”
Security reminders amid increased activityThe enthusiasm around SHIB’s Solana debut has also brought challenges, as fake liquidity pools appeared on decentralized exchanges. SHIB’s development team urged traders to use only the verified contract address: shib5gSoVKPjwkXrxRk7SbQFzb2R9rQB3TgQWYX4RwW, in order to avoid scams and counterfeit assets.
SwissBorg se jako zakládající člen připojil ke konsorciu Eurøpe, které má rozšířit regulovaný stablecoin EURØP denominovaný v eurech. Token je krytý eury v poměru 1:1 a dodatečným rezervním fondem ve výši 2 %.
SwissBorg has joined the Eurøpe Consortium as a founding member. The group’s goal is to get a euro stablecoin called EURØP used in practice, not just in pitch decks.
The crypto app sits alongside Schuman Financial, eToro and LCX in the founding lineup. The consortium’s focus is distribution and infrastructure for a regulated digital euro token that runs across several major blockchains.
What SwissBorg is signing up for EURØP is issued by Schuman Financial. It is structured as an electronic money token, or EMT, under the EU’s Markets in Crypto-Assets regulation, known as MiCA.
An EMT is the category MiCA uses for crypto tokens that track a single official currency. Put simply, EURØP is meant to behave like a euro that moves on a blockchain.
The token is 100% backed by euros. On top of that one-to-one backing, Schuman Financial keeps an additional 2% reserve fund.
That reserve is regularly audited by KPMG. The backing is held at certified banks, including Société Générale.
EURØP currently operates on five blockchains: Avalanche, Ethereum, Polygon, Solana and XRPL. That spread lets the token reach users across several of the larger smart contract and payments ecosystems rather than living on a single chain.
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The consortium’s founding program targets a specific gap. It aims to build accessible infrastructure and real use cases for euro stablecoins in Europe, in line with the regulated trading environment MiCA set up.
The timeline so far SwissBorg’s involvement did not start with the consortium announcement. EURØP trading went live on the SwissBorg platform in December 2025, the same month the company joined the group as a founding member.
In June 2026, SwissBorg moved user accounts to BlockNodes SAS. That is a MiCA-authorized French entity, and the migration covered users in the European Economic Area and the UK.
The following month, July 2026, SwissBorg launched a loyalty program tied to EURØP. Users can earn rewards in BORG, SwissBorg’s native token, on EURØP deposits.
The program comes with no lock-ups. Users do not have to freeze their deposits for a set period to qualify, and the rewards run until August 2026.
SwissBorg is also offering zero exchange fees for EURØP deposits until August 31, 2026.
Why a consortium, and why now Stablecoins live or die on network effects. A token is useful only if exchanges list it, apps support it, and people actually hold it.
No single issuer can manufacture that alone. A consortium spreads the work across companies that already have users, which is why trading platforms like eToro, LCX and SwissBorg are in the founding group alongside the issuer.
MiCA is the backdrop for all of it. The regulation created a formal licensing path for crypto service providers and stablecoin issuers across the EU, and European platforms have been reorganizing to fit inside it.
SwissBorg’s shift to a French MiCA-authorized entity is one example of that reorganization. Joining a consortium built around a MiCA-compliant euro token is another step in the same direction.
What this means For SwissBorg users in Europe, the practical change is straightforward. There is now a regulated euro token on the platform, with fee waivers and BORG rewards attached for a limited window.
The no lock-up feature is the detail worth noticing. Many reward programs in crypto require users to commit funds for weeks or months, which turns a stable asset into an illiquid one. This program skips that tradeoff, at least until the August 2026 cutoff.
The rewards are paid in BORG, not euros. Users earning on a stable asset are receiving a token whose value can move, so the effective return depends on how BORG performs over the period.
For Schuman Financial, distribution is the whole game. Every platform that lists EURØP and builds incentives around it widens the token’s reach, and having SwissBorg, eToro and LCX in the founding group gives it several distribution channels from the start.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
THORChain has a large amount of data available onchain, but understanding what that data means is not always easy.
boone.tools was created to solve that problem. The site brings together a growing collection of dashboards covering THORChain’s pools, Protocol-Owned Liquidity, node votes, the App Layer, network economics, and several other parts of the protocol.
The goal of this is to make the state of THORChain easier to understand so that the people participating in the network can make better-informed decisions.
Why Boone Built boone.toolsBoone is a long-time THORChain community member and contributor who has become increasingly involved in the protocol's development. He has contributed to discussions about THORChain's economic model, including advocating for Protocol-Owned Liquidity and the removal of block rewards. More recently, he has been working on THORChain's Monero integration, developing the core proof of concept for connecting Monero to the network.
His motivation for creating boone.tools came from a simple problem. Whenever he wanted to investigate something about THORChain or verify a particular claim, he often struggled to find the necessary information in one place. Instead of repeatedly collecting the same data, he started building tools that could track it automatically.
As Boone explained during our interview, "I either want to know something or I want to show someone else something." This curiosity has been the driving force behind boone.tools, with each dashboard addressing a specific question about the protocol.
Interestingly, Boone never intended to build an entire analytics platform. It started when he experimented with building a dashboard to track THORChain's newly introduced Rapid Swaps feature. After sharing it with the community, people began requesting additional tools, and the project gradually developed into a much larger collection of dashboards.
Even the name came about organically. Boone drew inspiration from the existing community analytics platform rune.tools, which had made its source code publicly available. He used that project as inspiration for his own dashboards and named his platform boone.tools as a playful reference to rune.tools.
Today, boone.tools helps community members better understand THORChain by providing direct access to information about the network's activity and economics. This is especially valuable for a decentralised protocol where Nodes are responsible for making important decisions about how the network operates.
By making this information more accessible, Boone hopes to give community members a shared factual basis for discussions about THORChain's future. While participants may disagree about which direction the protocol should take, they can use the underlying blockchain data to better understand its current state and make more informed decisions.
Explore THORChain Through boone.toolsboone.tools has gradually developed into a collection of 16 specialised dashboards, each designed to help users understand a different part of THORChain.
The dashboards range from Status, Rapid Swaps, Pool Analysis and Financials to tools tracking Protocol-Owned Liquidity, RUNE burns, Node bonds, vaults, the Treasury, dynamic fees, governance and App Layer activity. Other dashboards include TC Fee Dash, Pool Dislocation, POL TVL, POL Tracker, Burn Tracker, Bond Tracker, Vault Explorer, ADR26 Dynamic Fees, Vote Tracker, App Layer / Base Layer, and Briefings.
Together, they provide a much more detailed view of what is happening across THORChain, from network health and swap activity to liquidity, protocol finances and governance.
Covering all 16 tools in detail would quickly become overwhelming, so we asked Boone which metrics he considers most useful when analysing THORChain. He highlighted the following five metrics that he considers to be the most important.
1. Pool AnalysisThe Pool Analysis dashboard gives users a detailed look at how THORChain's individual liquidity pools are performing. Boone originally built it because he wanted to understand which assets were responsible for generating the protocol's trading volume and revenue. Although this information was available through different sources, there was no single place where he could easily compare the performance of individual pools.
For each pool, users can compare its internal price with an external oracle price, see its liquidity depth, and examine the underlying asset and RUNE balances. The dashboard also tracks trading volume and liquidity fees across different periods. Users can sort pools by these metrics to identify which assets are generating the most activity and revenue.
One of the most useful metrics is fees relative to pool depth, which Boone considers an important indicator of capital efficiency. It shows how much fee activity each pool generates relative to the liquidity available. This information has become particularly relevant with the introduction of Protocol-Owned Liquidity (POL), as the protocol uses fee generation relative to liquidity depth as part of its process for determining where additional liquidity should be allocated.
Users can also select individual pools to examine their historical performance. The dashboard provides charts showing daily trading volume, daily fees, cumulative fees, and changes in pool depth over time.
Bitcoin PoolThese historical comparisons make it possible to identify how liquidity and trading activity develop within individual pools. For example, users can examine whether a pool has attracted additional liquidity or whether its capital efficiency has improved over time.
As Boone explained during our interview, Pool Analysis is one of the dashboards he checks most frequently himself. It gives him a straightforward way to understand which assets are generating revenue and how efficiently THORChain's liquidity is being used.
2. POL TrackerThe POL Tracker focuses on THORChain's Protocol-Owned Liquidity and how the protocol builds and manages its own positions in liquidity pools.
Boone has been one of the strongest advocates for POL within the THORChain community. He believes that allowing the protocol to build its own liquidity addresses several important problems, including its historical dependence on the independently managed Treasury to provide liquidity for new and existing pools.
As Boone explained during our interview, POL allows THORChain to build a liquidity base that it controls itself. This reduces its reliance on external liquidity providers and gives the protocol a mechanism for directing additional capital toward pools that need it.
The POL Tracker provides the data needed to follow this development. Boone considers the current value locked in POL its most important metric. Alongside this figure, the dashboard displays how much RUNE has been deposited through the mechanism and how that capital has been allocated across individual pools.
Users can examine POL's positions, its ownership share within individual pools, and how deposits have developed over time. Another important metric estimates POL's share of the liquidity fees generated by the pools in which it participates. However, Boone emphasised that this figure requires some interpretation.
Simply attributing fees according to POL's ownership share does not necessarily mean that POL was responsible for generating those fees. Some swaps would have taken place regardless of whether the protocol had provided additional liquidity.
The purpose of this calculation is therefore to illustrate POL's potential contribution to THORChain's economics. By providing deeper liquidity, POL can improve swap execution and potentially attract additional trading activity. This creates the possibility of generating more revenue that can subsequently be reinvested into liquidity.
The dashboard also includes a metric that treats RUNE deployed through POL as effectively removed from circulation. Boone emphasised that this is not a conventional token burn. The RUNE remains within liquidity pools, and its balance can change as market prices fluctuate.
Together, these metrics allow users to follow how POL develops and evaluate its potential contribution to THORChain's liquidity and long-term economic sustainability.
3. Cross-Chain CompetitorsThe Cross-Chain Competitors dashboard compares THORChain's economics with competing cross-chain trading systems, including Chainflip and NEAR Intents. Boone developed this comparison because he believes that trading volume alone provides an incomplete picture of how successfully a protocol is performing.
A protocol can generate significant trading activity while spending substantial amounts on token incentives to attract users and liquidity. Consequently, higher trading volume does not necessarily translate into a stronger economic model. To account for this, Boone's dashboard compares the protocols using a straightforward calculation: profitability = fees − token emissions.
This distinction is especially important when comparing THORChain with NEAR Intents. Although NEAR Intents has periodically generated substantially more trading volume, Boone argues that its economic performance looks very different once token emissions are taken into account. THORChain, meanwhile, operates with virtually no ongoing token emissions, allowing it to retain considerably more of its income under this methodology.
During our interview, Boone explained that his dashboard has generally shown THORChain generating substantially more net income than its competitors. The comparison helps illustrate why trading volume alone is insufficient to evaluate the economic sustainability of different cross-chain protocols.
It is important to recognise that this calculation does not represent each protocol's complete operating profit. Instead, it provides a consistent framework for comparing swap-related income against token subsidies, helping users understand which protocols generate revenue without relying heavily on continued token issuance.
4. Vote TrackerThe Vote Tracker makes THORChain's onchain governance activity more accessible by providing a detailed overview of Node voting.
THORChain Nodes use Mimir votes to change many of the parameters that determine how the network operates. These include economic settings, transaction fees, chain configurations, and operational parameters.
Before developing the dashboard, Boone found that understanding ongoing votes and their current status could be unnecessarily difficult. Although some information was available through Discord and existing tools like rune.tools he wanted to provide a more detailed overview that allowed users to examine voting activity directly.
The Vote Tracker provides three main views. The first organises voting activity by parameter, showing which Nodes have voted, their proposed values, and how many additional votes are needed for a change to take effect. Users can also examine historical votes and see when parameters were actually updated, such as when Nodes voted to enable or disable Bitcoin trading.
The second view focuses on individual Nodes, allowing users to examine their voting history and average response times. This is particularly useful for bond providers who want to understand how actively Nodes participate in governance and whether their decisions align with their own preferences.
Finally, the dashboard provides a searchable overview of THORChain's current Mimir values and network constants, giving users easy access to the network's operating parameters.
5. App Layer / Base LayerThe App Layer / Base Layer dashboard tracks how economic activity generated by the Rujira App Layer contributes to THORChain's underlying network. It provides an overview of how funds move between the two layers and displays the cumulative value transferred to the Base Layer.
The dashboard distinguishes between two sources of revenue. The first consists of fees generated when App Layer transactions use THORChain's Base Layer infrastructure, which contribute to System Income. The second consists of revenue generated directly by App Layer applications and subsequently shared with THORChain's Protocol Reserve.
As Boone explained during our interview, these revenue streams are distributed differently, making it important to track them separately. The dashboard also distinguishes between revenue generated and funds actually transferred to the Base Layer, as some revenue accumulates in a contract before being distributed gradually over time.
Finally, the dashboard tracks funds allocated to App Layer POL, which operates separately from THORChain's Base Layer POL mechanism. Together, these metrics give users a clearer understanding of how App Layer activity generates revenue, how that revenue is distributed, and how much economic value ultimately reaches different parts of THORChain.
A Better Way to Understand THORChainboone.tools makes it easier to understand what is happening across THORChain without having to piece together information from different sources.
The dashboards give users a clearer view of how the network is performing and how different parts of the protocol are developing over time. This is especially useful for a decentralised network like THORChain, where many important decisions are made by Node Operators.
Better access to this information will not mean everyone agrees on what THORChain should do next. It does, however, give the community a stronger basis for those discussions and makes it easier to make decisions based on what is actually happening onchain.
Shiba Inu is back on a bullish trajectory as traders appear to be actively participating in the leading meme token following recent developments.
As the meme token continues to advance and expand its presence across the crypto ecosystem, it has recently launched on the Solana blockchain, driving a rapid surge in its trading activity per data from CoinMarketCap.
Shiba Inu volume spikes 171%While Shiba Inu has seen its onchain activity slow modestly in recent days, its launch on Solana on October 4 has driven a sharp surge in trading activity.
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Barely 24 hours after its expansion into the Solana ecosystem, data from CoinMarketCap shows that Shiba Inu's trading volume has surged to over $95,890,000.
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This marks an increase of 171.8% over the last 24 hours amid rising interest from investors. This surge in activity has also fuelled bullish momentum for SHIB as its price has also shown a substantial increase over the same period.
Following the spike in market activity, Shiba Inu is now trading at around $0.000005959, a notable increase of 4.36% over the past 24 hours.
Shiba Inu now live on SolanaIt is important to note that the sharp increase in Shiba Inu volume came shortly after the asset expanded its presence to Solana.
With this move, users within the Solana network now have the opportunity to seamlessly trade and interact with the popular meme coin.
While this typically drives further adoption for Shiba Inu, market participants believe the move will help push the Shiba Inu onchain holder count to reach 1.7 million faster.
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.
Shiba Inu is showing signs of stabilization after several weeks of aggressive price swings, while exchange activity suggests that immediate selling pressure may be cooling. Exchange netflows have dropped toward roughly 120 billion SHIB, a notable slowdown compared with the much larger spikes recently observed.
Netflow measures the difference between tokens entering and leaving exchanges. Large positive readings can indicate that more SHIB is becoming available for potential sale, while declining netflows suggest that this pressure is easing.
Exchanges stay bearishTotal inflows stand around 551.8 billion SHIB, compared with approximately 453.4 billion in outflows. Exchange reserves have also edged 0.11% higher, while their dollar value increased 4.85%. This means SHIB has not entered a clear accumulation regime yet.
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SHIB/USDT Chart by TradingViewOne particularly notable reading is the seven-day moving average of mean exchange outflows, which surged more than 630%. Large withdrawals can be constructive if tokens move into private storage, but the metric is volatile and should not be interpreted independently.
Price is more encouraging SHIB currently trades around $0.00000598 after recovering from September lows near $0.0000049. More importantly, the token has moved above the major long-term moving average around $0.00000565 and has repeatedly defended this region during recent pullbacks.
The next obstacle sits around $0.00000610–$0.00000630. September's rally failed around this zone, leaving a substantial supply area above the current price. A clean daily close above $0.00000630 could establish another higher high and strengthen the developing bullish structure.
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Momentum is also relatively balanced. RSI remains above 50 but well below extreme overbought territory, leaving room for another upside attempt.
The main risk is a breakdown below approximately $0.00000560. Such a move would return SHIB beneath its recently reclaimed long-term support and expose $0.00000540, followed by $0.00000500.
For now, falling netflows remove some immediate selling pressure, but they do not provide bullish confirmation by themselves. SHIB needs to convert its improving exchange dynamics into a breakout above $0.00000630 to restart the rally.
Generální ředitel Injective Eric Chen očekává spuštění ETF v USA navázaných na INJ před rokem 2027. Americká Komise pro cenné papíry (SEC) eviduje dvě žádosti: 21Shares Injective ETF a Canary Staked INJ ETF.
Injective (INJ) co-founder and CEO Eric Chen said he expects U.S. exchange-traded funds tied to the Layer 1 network's native token INJ to launch before 2027.
"I can't comment on the specific time, but I think 2027 is a little bit too far," Chen said in an interview with The Block at Korea Blockchain Week 2026. "It's actually way sooner than I expected as well, so we'll see."
According to the Securities and Exchange Commission's website, there are currently two ETF applications tied to INJ — the 21Shares Injective ETF and the Canary Staked INJ ETF. Initially filed in 2025, both issuers submitted amended S-1 registration statements in September, signaling progress in the application process.
Chen made the ETF comment amid a broader licensing push. Injective Institutional Services became an SEC-registered transfer agent in August. This allowed the network-affiliated legal entity to maintain ownership records for securities. He said the registration is just the start, rather than the end.
"In terms of U.S. licensing, I think transfer agent is basically the very start. There's going to be a few more licenses that we'll be working on," Chen said. With the registration and the network's latest Meridian upgrade, he said "an Injective institution can actually be the clearinghouse for settlement."
Injective shipped Meridian on Sept. 24 after a governance vote as a "massive institutional upgrade," according to the CEO. He described the upgrade as a way for institutional clients to move from pilots to live onchain tokenization, offerings, and collateralization, with built-in transfer controls for compliance.
RWA Market Cap by Asset Class | The Block Eyeing Europe In Europe, he said a Markets in Crypto-Assets (MiCA) white paper for the INJ token has been submitted and finalized.
Injective announced in July that it had completed the notification and publication of INJ's MiCA white paper. It is listed in the European Securities and Markets Authority's (ESMA) interim register, which was a disclosure step toward INJ's admission to trading in the EU. Chen said obtaining a license in the region is a slow process, so Injective is working with firms that already hold one.
"There's actually a very exciting upcoming collaboration exactly around that. We're working with very large financial institutions," he said. "MiCA is actually a stepping stone to that." The Injective CEO said the work covers payments and tokenization.
In terms of real-world asset tokenization, Chen said he views the private asset market as a "really important part."
"So anything that typically within TradFi requires months of bundling things together, months of pitching, tens of hundreds of layers of middlemen like selling them in tranches and then dividing up before it becomes an actual liquid investment instrument," Chen said. "Onchain that completely gets compressed within like one or two small contracts, and that's I think where it's gonna be most promising."
LIBRA-linked wallets tied to Kelsier Ventures have fallen from nearly $300 million in tracked holdings in February 2025 to about $2 million, according to blockchain analytics firm Arkham.
Summary
Arkham says Kelsier-linked wallets now hold about $2 million, down from nearly $300 million today. Over 1,000 addresses were originally linked to Hayden Davis and Kelsier Ventures during February 2025. Most of the original wallet value came from LIBRA tokens and extracted USDC and SOL. A U.S. judge dismissed the LIBRA investor class action with prejudice on September 29, 2026. Separate criminal proceedings tied to LIBRA continue in Argentina despite the U.S. civil case dismissal. Arkham said on Oct. 5 that it had identified more than 1,000 addresses belonging to Kelsier Ventures and Hayden Davis when it first published the wallet cluster in February 2025.
At the time, the addresses held close to $300 million, with most of the value coming from LIBRA tokens. Arkham now puts the remaining value across the tracked cluster at approximately $2 million.
ARKHAM FOUND 1,000 KELSIER VENTURES ADDRESSES
In February 2025 we identified over 1,000 addresses belonging to Kelsier Ventures (Hayden Davis). We were the first to publish the full set.
Those addresses held almost $300M at the time, mostly LIBRA coin. They now hold only $2M. pic.twitter.com/dq3eRSeVs2
— Arkham (@arkham) October 5, 2026 The change in wallet value does not by itself show where the difference went. Token prices, transfers between addresses, sales, liquidity movements and changes in Arkham’s tracked holdings can all affect an entity balance. Arkham’s Oct. 5 post did not provide a transaction-by-transaction breakdown explaining the decline.
Kelsier’s LIBRA wallets once held nearly $300 million Arkham first reported the Kelsier wallet cluster on Feb. 19, 2025, five days after LIBRA launched.
Its original analysis divided the identified addresses between a LIBRA entity containing wallets tied to the token and a separate Kelsier Ventures entity for addresses not directly associated with the project.
Across both groups, Arkham valued the holdings at nearly $300 million. Most of the amount consisted of LIBRA, while approximately $100 million was held in USDC and SOL that Arkham said had been removed from LIBRA liquidity pools.
Arkham described itself at the time as the first blockchain analytics service to publish the full set of more than 1,000 linked addresses.
The company identified Davis as the person behind Kelsier Ventures. A recent U.S. federal court opinion describes Kelsier Labs LLC, doing business as Kelsier Ventures, as a family-run firm incorporated under Texas law in 2021, with Hayden Davis serving as chief executive.
LIBRA launched on Solana on Feb. 14, 2025. Argentine President Javier Milei posted the token contract and promoted the accompanying Viva La Libertad project shortly after launch, according to the subsequent federal court record.
Investor demand pushed the token sharply higher before its price collapsed within hours. Milei later removed his post and said he had not been aware of the project’s details.
As previously reported, LIBRA reached a multibillion-dollar valuation before collapsing shortly after Milei’s post. Davis later acknowledged that he controlled funds connected to the project while denying that LIBRA was intended as a scam.
U.S. LIBRA lawsuit was dismissed days before Arkham update Arkham’s latest wallet disclosure comes less than a week after a major U.S. civil case involving Kelsier Ventures ended.
U.S. District Judge Jennifer L. Rochon ruled on Sept. 29 that the amended investor complaint against Kelsier, Davis family members, former Meteora CEO Benjamin Chow and other defendants could not proceed.
The case, Hurlock v. Kelsier Ventures, had accused the defendants of fraud, conspiracy, violations of the Racketeer Influenced and Corrupt Organizations Act, New York consumer law violations and unjust enrichment.
For Kelsier and the Davis defendants, the judge dismissed the RICO counts for failure to state a claim. Other claims against them were dismissed because the court found it lacked personal jurisdiction.
Claims against Chow were dismissed for failure to state a claim, while Dynamic Labs secured dismissal of claims brought against Meteora.
Rochon denied the plaintiffs’ request to file a second amended complaint and dismissed the case with prejudice, directing the clerk to close it. LIBRA class action was dismissed after the court rejected the plaintiffs’ RICO and fraud theories.
The ruling did not amount to a judicial finding that every disputed event around LIBRA’s launch did or did not happen. The court decided whether the plaintiffs’ allegations met the legal and jurisdictional requirements needed for their claims to continue.
The original class action had been filed in New York state court in March 2025 before being removed to federal court in May.
Frozen LIBRA-linked funds became part of the legal fight Wallet tracing played a role in the LIBRA litigation long before Arkham published its latest $2 million figure.
In May 2025, Circle froze approximately $57 million in USDC held in addresses tied to the dispute after a U.S. court order.
Crypto.news previously covered the $57 million USDC freeze tied to the LIBRA case, which applied to two addresses while investors pursued claims against Kelsier and related defendants.
The New York federal court later lifted its asset restraints in 2025. The Sept. 29, 2026 dismissal subsequently closed the underlying U.S. class action.
The current $2 million Arkham figure should not be read as a direct comparison with only the assets once frozen by the court. Arkham’s entity cluster covers a much larger set of addresses identified as connected to Kelsier Ventures and LIBRA.
Its February 2025 estimate included LIBRA tokens, stablecoins, SOL and other assets spread across more than 1,000 addresses.
Arkham’s Oct. 5 post does not say that $298 million was transferred out of the wallets in cash terms, nor does it identify the balance change as realized profit, investor recovery or seized funds.
Argentina’s LIBRA investigation remains separate The end of the U.S. civil lawsuit has not closed the separate criminal investigation in Argentina.
Argentina’s federal prosecutor’s office said in March that federal prosecutor Eduardo Taiano remained in charge of the investigation and was continuing work on evidence connected to LIBRA.
Prosecutors have been examining the circumstances surrounding the token’s creation and launch, including possible fraud, influence trafficking, bribery and abuse of authority.
Digital assets have already been frozen as part of that inquiry. In August 2025, prosecutors announced that an Argentine federal judge ordered the freezing of 323,275 USDT held across two addresses identified during the investigation.
Prosecutors said those addresses had received funds from a multisignature wallet examined in the case. Investigators linked activity in that wallet to the period between December 2024 and February 2025.
A separate prosecution request had sought to freeze nearly 44.6 million USDC connected to the inquiry before the U.S. court froze related stablecoin addresses in May 2025.
The Argentine prosecutor’s office said its technical investigation included analysis of electronic devices seized during the case. A final forensic report was delivered to prosecutors in January 2026 and added to the judicial case-management system in February.
The Sept. 29 U.S. ruling does not resolve those Argentine proceedings.
Arkham continues tracking the remaining Kelsier wallets Arkham’s public entity page continues to group wallets it attributes to Kelsier Ventures, allowing changes in token holdings and transfers to be monitored on-chain.
The analytics company has not said in its latest update that the approximately $2 million still visible represents all assets controlled by Davis or Kelsier Ventures outside the addresses it has identified.
Its February 2025 research was similarly limited to wallets Arkham had attributed to the entity.
Earlier reporting around LIBRA showed why attribution can change as investigators connect additional addresses. Blockchain researchers including Arkham, Nansen and other analytics firms spent months tracing wallets tied to the launch, liquidity pools and subsequent token movements.
Nansen tracked large profits and losses among LIBRA traders after the token’s rapid collapse, while separate investigations focused on early wallets and liquidity providers.
Arkham’s latest update leaves the identified Kelsier cluster at roughly $2 million compared with nearly $300 million when the firm first disclosed the addresses in February 2025.
Gate Europe získala autorizaci podle MiCA před koncem přechodného období a prostřednictvím passportingu v rámci EHP rozšiřuje služby v Evropě. Mezi 16. červnem a 22. zářím přidala nejméně 68 spotových párů.
PANews reported on October 5, citing U.Today, that as the EU MiCA transition period ended on July 1, obtaining MiCA authorization has become an important foundation for crypto trading platforms to continue serving European users. Gate Europe obtained MiCA authorization before the end of the transition period and is expanding related services through the European Economic Area passporting mechanism. Gate data shows that between June 16 and September 22, the platform added at least 68 spot trading pairs, now covering approximately 190 assets and 382 trading pairs.
Citing CASP Tracker data, the article noted that as of September 28, 84 of the world's 100 largest crypto trading platforms still had not obtained MiCA authorization. Meanwhile, Gate Europe passed the PCI DSS v4.0.1 Level 1 compliance assessment on September 15, covering Gate Connect and Gate Card. Gate Europe CEO Dr. Giovanni Cunti said that security and compliance are key to building trusted payment services in Europe, and passing PCI DSS certification is an important step in strengthening payment infrastructure.
In terms of liquidity, Gate data shows that between September 14 and 27, the order book depth within 0.1% of the mid-price for BTC/USDC and ETH/USDC increased by approximately 14% and 12% respectively, reaching $1.32 million and $555,000. Meanwhile, DefiLlama MiCA exchange data shows that Gate Europe's spot market depth within 2% of the mid-price reached $15.9 million, higher than other platforms during the same period. Building on the compliance foundation established by its dual MiCA and Payment Institution (PI) licenses, Gate Europe will continue to improve asset coverage and liquidity building, providing European users with richer digital asset trading options and a better trading experience.
According to the official announcement, the on-chain burn of GateToken (GT) for Q3 2026 has been successfully completed. A total of 1,987,321.2431520 GT has been transferred to the burn address, with a total burn value exceeding $22.35 million.
On-chain transaction details can be viewed at: https://etherscan.io/tx/0x4d0e1a6c996f1e9720a1b87f9d12999eee65f0ee83c7f61456fc5992b03cb5e2
Key Details of This Burn:
Burned amount this round: 1,987,321.2431520 GT Burn value this round: over $22.35 million Total burned to date: 191,934,541 GT Total burned value: over $1.504 billion (calculated based on the quarterly average price) GT is the core platform token of Gate and the native asset of Gate Chain. As the utility token and gas fee token on Gate Chain, GT plays a fundamental role in powering the network’s core transfer infrastructure. Since the Gate Chain mainnet launch in 2019, GT has implemented a sustained deflationary mechanism. The total token supply has been significantly reduced from its initial 300 million, with an overall reduction of approximately 63.98%.
As Gate continues to expand its platform, its ecosystem is extending beyond digital asset trading into a broader range of Web3 applications. Gate now serves more than 61 million users globally and supports over 5,300 crypto assets alongside 12,800+ stocks and ETFs, while continuing to strengthen infrastructure such as Gate Chain and Gate Layer. Across on-chain trading, asset issuance, and application development, products including Gate Perp DEX, Gate Fun, and Gate Meme Go are being rolled out, while AI products such as Gate.AI and Gate for AI Agent are driving more intelligent applications into the Web3 ecosystem.
Amid this development, the fundamentals supporting GT are also continuing to strengthen. The growth of Gate’s user base, product ecosystem, and on-chain applications is creating broader real-world utility for GT, while the ongoing token burn mechanism further optimizes its supply structure. As a result, GT’s long-term development is becoming more closely linked to the overall growth of the Gate ecosystem and its deflationary process, with its underlying value support gradually extending beyond platform benefits to broader ecosystem development.
In terms of market performance, GT has maintained strong upward momentum recently. Data shows that GT has gained 32.49% over the past 30 days and 63.63% over the past 90 days, demonstrating robust market performance. As the ecosystem continues to expand and the burn mechanism continues to advance, GT’s market attention and foundation for long-term value have also been further strengthened.
Looking ahead, Gate will continue to advance innovation in Web3 infrastructure and ecosystem applications, expand the real-world utility of GT across on-chain trading, network interactions, and other use cases, and remain committed to implementing the GT burn mechanism to further optimize the token’s supply structure. By advancing ecosystem expansion and deflationary mechanisms in tandem, Gate will further strengthen the utility foundation of GT, provide users with richer ways to participate in Web3, and build stronger support for GT’s long-term development.
Read the Full Report here.
About GateGate, founded in 2013 by Dr. Han, is one of the world’s leading cryptocurrency and integrated financial services platforms. Serving over 61 million users globally, it supports trading across 5,300+ digital assets and 12,800+ stock assets, while providing access to a comprehensive range of TradFi assets, including metals, stocks, indices, forex, and commodities, delivering users a one-stop, multi-asset trading experience and blockchain-related services. As an industry benchmark, Gate was among the first platforms to implement 100% Proof of Reserves. Its ecosystem includes Gate Wallet, Gate Ventures, Gate for AI Agent, and a wide range of products and services.
For more information, please visit: Website | X | Telegram | LinkedIn | Instagram | YouTube
Disclaimer:This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Note that Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement.
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SUI dnes vzrostl o 4,43 % na 1,23 USD, zatímco trh sleduje rezistenci na 1,27 USD. Mysten Labs staví Sui na globálních platbách, stablecoinech a AI transakcích.
Sui price has climbed 4.43% to $1.23 as Mysten Labs co-founder Adeniyi Abiodun outlined a strategy centered on global payments, stablecoins and AI-agent transactions, while traders watch $1.27 as the next technical hurdle.
Summary
SUI rose 4.43% to $1.23 today as traders watched $1.27 for potential bullish breakout confirmation. Sui has processed more than $1 trillion in stablecoin transfers since August 2025, foundation says. Google lists Mysten Labs among collaborators behind AP2, its open protocol for AI-driven payments systems. USDsui launched in March through Stripe-owned Bridge, giving Sui a native dollar for payments applications. Analysts see $1.27 as immediate resistance, while a $2 target remains conditional on breakout confirmation. Wu Blockchain published the interview on Oct. 5, with Abiodun arguing that Sui should be viewed as payment infrastructure capable of moving money globally instead of simply another Layer 1 blockchain.
CoinGecko data showed SUI near $1.23 during the session, with a market value close to $5 billion and roughly $878 million in 24-hour trading volume. The token had traded between approximately $1.17 and $1.26 during the day.
Abiodun said Sui’s long-term ambition was to compete with traditional payment infrastructure, going as far as saying its goal over the next several years is to “replace SWIFT.” The statement represents Mysten Labs’ long-term view and does not amount to a forecast that Sui will displace the global bank messaging network.
Sui price is closing in on the $1.27 level On the weekly chart, SUI is trading above the upper Bollinger Band near $1.19, while the 20-week middle band sits around $0.83 and the lower band near $0.46.
Price moving above the upper band shows stronger upside momentum compared with its recent weekly range, though it leaves SUI extended above its 20-week average. The immediate $1.19-$1.25 area remains important because SUI is testing the upper band and recent weekly highs.
Sui price chart, source: TradingView The Relative Strength Index stands at 58.71, above its signal average near 44.19. RSI has recovered above the neutral 50 level but remains below the commonly watched overbought threshold of 70.
Crypto analyst Ali Martinez said on Oct. 2 that SUI had repeatedly formed parallel consolidation channels before breaking higher since Sept. 12. He identified $1.27 as the next level to watch, saying an hourly close above it “could confirm another bullish breakout.”
Price has since moved closer to that threshold without clearly breaking it. CoinGecko showed the token reaching a 24-hour high near $1.26, leaving Martinez’s $1.27 trigger just above the current market.
A second analyst, Celal Kucuker, said a bull flag was approaching resistance. He argued that a break of the pattern during October could bring $2 into view.
$SUI
The bull flag is getting close to a breakout.
If the red resistance line breaks this month, $2 could come quickly.
In a bull market, $10+ looks technically very achievable from here. pic.twitter.com/7TpnoTLCw4
— Celal Kucuker (@CelalKucuker) October 4, 2026 Kucuker’s longer-term call for prices above $10 was explicitly tied to a future bull-market scenario. It remains an analyst projection, not a confirmed target supported by current price action.
For now, $1.27 is the closer test. A sustained move above it would place SUI beyond the level Martinez identified, while a return below roughly $1.19 would move price back inside the weekly Bollinger Band.
Stablecoins are becoming central to Sui’s payment push Abiodun described stablecoins as one of the strongest current uses for blockchain payments because they can operate continuously and settle outside conventional banking hours.
Sui Foundation said in May that the network had processed more than $1 trillion in stablecoin transfer volume since August 2025. The same update introduced gasless transfers for supported stablecoins, allowing qualifying peer-to-peer transactions to execute without users holding SUI for gas.
The feature initially covered assets including USDsui, USDC, SuiUSDe, AUSD, FDUSD, USDB and USDY. Sui’s documentation says eligible transfers can use a zero gas price and budget when they meet the network’s allowlist requirements.
USDsui gives the network its own native dollar asset. Sui Foundation announced its mainnet launch on March 4 through Bridge, the stablecoin infrastructure company owned by Stripe. The token was built for payments, decentralized finance and cross-border transactions.
As previously reported, Sui’s USDsui launch brought a native stablecoin to its payment and DeFi ecosystem after the network processed more than $111 billion in stablecoin transfers during January alone.
Abiodun said USDsui had reached roughly $75 million and named stablecoin liquidity as one metric Mysten Labs will watch when measuring future network adoption.
Recent integrations have extended the payment strategy beyond DeFi. Daya integrated Sui as settlement infrastructure in September, using gasless stablecoin transfers across products serving businesses and developers in Nigeria. The company plans to expand into South Africa, Ghana and Kenya.
RedotPay provides another payment connection, though its official April announcement is narrower than the translated interview suggested. Sui Foundation said RedotPay added support for SUI and native USDC on Sui, giving users access to assets through a payment network that supports Apple Pay and Google Pay. The official release does not identify USDsui as part of that initial integration.
AI agents form the second part of Sui’s strategy Abiodun expects AI agents to become a major source of blockchain transactions as software begins making payments, purchasing services and moving funds without a person manually initiating every transfer.
His view has some support from Sui’s work with Google. Google announced the Agent Payments Protocol, or AP2, in September 2025 and listed Mysten Labs among more than 60 payments and technology organizations helping develop the open standard.
AP2 is designed to let AI agents initiate payments under verifiable user authorization across different payment systems. Google’s list includes companies such as Mastercard, PayPal, Coinbase, Revolut and Worldpay alongside Mysten Labs.
Sui joined Google’s AP2 effort around programmable payments for AI agents, placing the blockchain among projects testing how autonomous software could interact with digital money.
Sui’s current AI infrastructure combines several products. Walrus handles decentralized storage, Seal manages programmable access controls and Nautilus supports verifiable computing, while Sui coordinates transactions and policies on-chain.
Abiodun argued that such tools could help AI systems prove where information came from and whether it was changed before an agent makes a decision or payment.
Sui tested that type of automated activity in July through programmable tunnels. The foundation reported a peak of 6,086,766 transactions per second during a public experiment involving AI agents, games, payments and chat. The result came from off-chain programmable channels that settle back to Sui mainnet, not normal base-layer transaction throughput.
Sui still faces a gap between payments growth and DeFi TVL Abiodun acknowledged the decline in Sui’s total value locked during the interview while arguing that stablecoin use, institutional integrations and network activity deserve attention alongside TVL.
Current DefiLlama data place Sui DeFi TVL near $550 million, with stablecoin market capitalization close to $482 million. The tracker recorded roughly 25.3 million network transactions over the latest 24-hour period.
The interview referenced a previous TVL level of approximately $4 billion before a decline toward $1 billion. The $4 billion figure could not be matched to the current DefiLlama dataset reviewed for this report, so it remains attributed to the interview.
Governance remains another part of Sui’s recent history. After the $223 million Cetus exploit in May 2025, validators coordinated around frozen attacker funds and later voted on a protocol upgrade to recover them.
Sui Foundation reported that validators representing 90.9% of stake supported the recovery proposal, with the foundation’s stake excluded from the vote. Approved funds were moved to a multisignature wallet for return under Cetus’ recovery plan.
Abiodun said Mysten Labs and the Sui Foundation cannot independently order validators to freeze addresses, describing such actions as decisions that require validator coordination.
Price traders are now watching a much shorter-term question. SUI is sitting near $1.23 after its latest gain, while the weekly RSI remains below overbought territory and $1.27 stands just above the current trading range.
Martinez’s setup requires an hourly close above $1.27 before his proposed breakout is confirmed. Kucuker’s $2 scenario requires a separate bull-flag resistance break during October, while his $10-plus forecast depends on the much less certain condition of a future bull market.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Hyperliquid, a decentralized perpetual futures exchange, has made its perpetual contracts available on the Bloomberg Terminal, according to a report from @coinbureau. This marks a significant step for Hyperliquid, integrating its market data into a major professional workstation. The exchange, built on its own layer-1 blockchain, supports over 100 assets and handles its operations via HyperCore. The inclusion on Bloomberg Terminal suggests increasing institutional interest and represents a potential shift in how traditional finance engages with decentralized platforms.
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Market participants appear to view this development as supportive of scenarios where Hyperliquid’s market reach broadens, potentially influencing price predictions for the asset. Current market pricing on platforms like Polymarket suggests increased optimism about Hyperliquid’s ability to reach its price targets by the end of 2026. This optimism is reflected in the December 31 sub-market, which shows a 71.5% likelihood of Hyperliquid reaching $100, up from 68% just 24 hours ago.
Key Takeaways Hyperliquid’s integration with Bloomberg Terminal appears to enhance its visibility and accessibility to institutional investors. Market pricing suggests increased confidence in Hyperliquid meeting the $100 price target by the end of 2026, with current odds at 71.5% YES. The development may indicate a growing acceptance of decentralized platforms by traditional financial institutions. What to Watch The response from institutional investors and other exchanges could provide further indicators of Hyperliquid’s impact on the broader market. Monitoring Bloomberg’s future coverage and any potential strategic partnerships will be crucial. Additionally, any regulatory developments or changes in market sentiment could affect the outlook for Hyperliquid’s price trajectory as the year-end approaches.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 71.5% — — View market → January 1 2027 2.4% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.8% — — View market → January 1 2027 2.2% — — View market → January 1 2027 3.9% — — View market → January 1 2027 3.3% — — View market → January 1 2027 4.5% — — View market → January 1 2027 7% — — View market → January 1 2027 10.5% — — View market →
Pump.fun za 30 dní dosáhl výnosů 55,5 milionu USD a překonal Hyperliquid s 54,34 milionu USD. Objem obchodů PUMP vzrostl z asi 5 milionů USD denně v červenci na více než 40 milionů USD v říjnu.
Pump.fun’s revenue surge is reshaping the competition for protocol earnings, driven by renewed trading activity across its Solana launchpad. Over a 30-day time frame, Pump.fun earned $55.5 million, exceeding Hyperliquid’s $54.34 million, earning it third place in total earnings.
The large increase in revenue for Pump.fun will alter the competitive landscape of who receives earnings from protocols due to renewed levels of trading on all launchpads offered by Pump.fun on Solana.
This is important because Pump.fun [PUMP] earns money through rapid launching of tokens and their subsequent trading. On the other hand, Hyperliquid [HYPE] generates revenue through perpetual activity.
In addition, Pump.fun has shown upward momentum, generating $17.54 million over seven days. Therefore, this recent upward trend continues to be active.
Source: DeFiLlama Hyperliquid’s $11.19 million weekly revenue trails that pace, widening the short-term gap. As such, sustained memecoin trading may reinforce Pump.fun’s position relative to Hyperliquid and significantly increase PUMP’s economic relevance.
However, if the demand for trading declines rapidly, the order of the rankings will likely shift, and Hyperliquid would reclaim its spot.
Pump.fun’s trading volume surges Pump.fun’s trading volume went from approximately $5 million per day in July to over $40 million in October. Thus, it appears that demand is no longer limited to short-term or occasional spikes.
PUMP’s daily turnover was clearly rising in mid-August and accelerated into early September. This was as turnover frequently reached $30-$45 million per day and occasionally exceeded $60 million.
Why does this matter? Pump.fun generates revenue based on user activity such as launching, trading, and rotating through tokens. Thus, an increase in trading volume will expand pump.fun’s base of revenue-generating activities.
Source: X This trend also supports PUMP’s economic narrative. Sustained volume provides an additional foundation for continued revenue growth. However, a decline in volume would quickly reduce that support.
Whale accumulation strengthens PUMP Meanwhile, after an entire year with little to no movement, Netherlol made its comeback, purchasing 383.34 million PUMP valued at $2.4 million. Following this transaction, another wallet withdrew 189.22 million PUMP, valued at $1.18 million, from MEXC.
Together, these withdrawals remove a portion of the available tokens to be traded during periods when there has already been an increase in trading volume.
As long as these two whales hold onto the coins they have purchased or withdrawn, fewer tokens will be available to trade on exchanges. This can lead to tighter supplies of tokens, which will also allow buyers to have a greater impact on price movement.
Source: Arkham This will provide more substantial support to Pump.fun’s revenue, thus allowing for a stronger form of growth that is no longer solely dependent upon platform activity.
However, renewed deposits could reverse this effect, making whale movements important for confirming whether accumulation becomes a durable trend.
Final Summary Pump.fun leads Hyperliquid in 30-day revenue as volume and whale demand rise. PUMP could extend its lead if trading activity and whale accumulation persist.
Americké spot bitcoinové ETF zaznamenaly za týden končící 2. října čisté přílivy ve výši 241 milionů USD, už potřetí v řadě. Nejvíc přidal BlackRock IBIT s 450 miliony USD.
US spot Bitcoin ETFs pulled in $241 million in net inflows for the trading week ending October 2, 2026. That makes three positive weeks in a row.
BlackRock does the heavy lifting The headline number hides a lopsided week. BlackRock’s iShares Bitcoin Trust (IBIT) took in $450 million on its own, according to data compiled largely from SoSoValue, with additional tracking by Farside Investors.
That brings IBIT’s cumulative figure to $65.73 billion. It remains the clear heavyweight of the group, and this week it outperformed the entire category’s net total by a wide margin.
ARK 21Shares’ ARKB added a more modest $25.52 million. The fund’s cumulative total now sits at $1.4 billion.
Fidelity’s FBTC had the opposite experience. It posted the largest outflows of the week, shedding $168 million, though its cumulative asset base still stands at $10.9 billion.
Do the arithmetic and something stands out. IBIT and ARKB together brought in more than the week’s net total, even after FBTC’s losses, which implies the remaining funds were net negative as a group.
The bigger picture: assets, market share and a rebound Total net assets across all spot Bitcoin ETFs reached approximately $108.89 billion. That figure represents 6.42% of Bitcoin’s total market capitalization.
Cumulative net inflows since the funds launched in January 2024 now total approximately $57.79 billion.
Earlier in 2026, the sector absorbed heavy redemptions, leaving a net outflow deficit of about $5.8 billion by mid-July. The recovery started in August and picked up speed in September. The week ending September 25 delivered a record inflow of $2.4 billion, and the positive trend has now carried into October.
Compared with that $2.4 billion week, $241 million is a step down. Still, the direction matters more than the size for a market that spent months watching money walk out the door.
What to watch from here The concentration in IBIT says something about how returning money behaves. If IBIT keeps absorbing the bulk of new money while others see redemptions, the headline numbers may overstate how broad the renewed appetite really is.
At 6.42%, ETF holdings are large enough that sustained buying or selling through these vehicles can influence the broader market’s supply and demand balance. Steady inflows could help support prices, but a return to heavy redemptions would put the same mechanism into reverse, as the first half of the year demonstrated.
For now, the data tells a fairly simple story. After a rough start to 2026, money is flowing back into spot Bitcoin ETFs, cumulative inflows have recovered to approximately $57.79 billion, and BlackRock remains the main beneficiary of that return.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Americké spotové Bitcoin ETF přilákaly za první dvě říjnové seance 292,5 milionu USD, přičemž BlackRockův IBIT sám získal 158,2 milionu USD. Příliv kapitálu podpořila slabší než očekávaná zpráva o zaměstnanosti v USA.
U.S. spot Bitcoin ETFs recorded about $292.5 million in net inflows during the first two sessions of October. The initial total of $134.4 million was incomplete because it did not yet include the $158.2 million allocated to BlackRock’s IBIT fund on October 2.
In Brief U.S. Bitcoin ETFs attracted $292.5 million during the first two sessions of October. BlackRock largely dominates flows with $353.8 million captured by IBIT in two days. Inflows coincided with a weaker-than-expected U.S. employment report. Bitcoin briefly exceeded $87,000 before returning around $85,000. Bitcoin ETFs come off a strong September marked by $2.65 billion in inflows. Bitcoin ETFs start October with two positive sessions The funds attracted $102.7 million on October 1st, then $189.8 million the next day once data from all issuers were integrated. This second estimate replaces the provisional total of $31.7 million announced before BlackRock’s flow release.
The start of the month thus reverses the movement observed during the last session of September. The updated data summarize the sequence :
$148.7 million were withdrawn on September 30 ; $102.7 million entered on October 1 ; $189.8 million were added on October 2 ; The total for the first two sessions reaches $292.5 million ; ETFs now show two consecutive days of inflows. The figure of $134.4 million came from adding $102.7 million from Thursday and a partial total of $31.7 million for Friday. This was not a calculation error but a snapshot taken before receiving IBIT’s data.
This difference reminds that daily flows can evolve several hours after close. Some funds publish their creations and redemptions later than others, making initial totals provisional.
BlackRock still dominates Bitcoin ETF flows On October 1st, IBIT attracted $195.6 million. This gathering offset outflows seen at several competitors, including $60.7 million for Fidelity’s fund and $31.4 million for Grayscale’s GBTC.
Bitwise lost $6.9 million, while ARK 21Shares, Invesco, and VanEck also ended in the red. Conversely, Morgan Stanley’s fund received $7 million and Grayscale’s Bitcoin Mini Trust $14.6 million.
The October 2 session was much more concentrated. IBIT collected $158.2 million, Fidelity $29.3 million, and Morgan Stanley $2.4 million. Other products recorded no significant net movement.
Over the two days, BlackRock received $353.8 million. This amount exceeds the overall positive flow of $292.5 million, as part of IBIT’s subscriptions served to offset withdrawals recorded in other ETFs.
This concentration tempers market reading. Investors are returning to Bitcoin ETFs, but they largely favor BlackRock’s product. The movement does not translate into uniform progress across all managers.
The employment report supports bitcoin The flow return coincided with a weaker-than-expected U.S. employment report. The U.S. economy added 29,000 jobs in September, against about 90,000 expected. The unemployment rate rose to 4.2%.
These figures reduced expectations of another Federal Reserve rate hike in October. Lower or stable rates tend to improve the attractiveness of risky assets by reducing the yield offered by bonds.
Bitcoin briefly exceeded $87,000 after the release before returning toward $85,000. This reaction shows investors welcomed the employment slowdown without triggering a sustained break above September’s peak.
ETF flows can support spot demand, as managers generally buy bitcoins to cover new shares creation. However, they alone do not explain the price, which also depends on the dollar, bond yields, and positions in derivatives markets.
ETFs come off a strong September Bitcoin ETFs had received about $2.65 billion in September, their best monthly total in several months. A series of nine positive sessions starting September 17 notably generated more than $3 billion before the September 30 withdrawal.
The third quarter ended with nearly $6.34 billion in inflows. This gathering allowed 2026 flows to return slightly positive after a deficit close to $5.8 billion observed in mid-July.
The positive start to October fuels the narrative of “Uptober”, a nickname for the month due to bitcoin’s historical performances. “Traders currently estimate that the upside potential exceeds the downside,” said Stephen Wundke, strategy director at Algoz.
However, this seasonality does not constitute a forecast. The next test will come on October 14 with U.S. inflation, then on October 28 with the Fed decision. Continued inflows will depend as much on these data as on the month’s favorable reputation.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
S&P Global Market Intelligence Chief Business Economist Chris Williamson said: "The euro zone’s service sector growth has hit its fastest pace since last November, signaling that the region’s economic recovery is accelerating, with growth momentum spreading from manufacturing to broader sectors. The composite PMI survey signals show the euro zone economy is currently expanding at a quarterly rate of 0.4% and is on track for further growth in the fourth quarter. Service sector activity in both Germany and France saw its first signs of growth since March, marking their respective first service sector expansions this year; Italy, meanwhile, expanded for the fourth consecutive month, outperforming Spain, which also posted its strongest growth in four months. Overall growth in September hit its fastest pace in five years. At the same time, the survey showed input price inflation rose to 4%, indicating the euro zone’s inflation is approaching the European Central Bank’s 2% target ceiling. Combined with the acceleration in economic growth shown by the PMI, these data suggest mounting pressure on the European Central Bank to adopt more aggressive monetary tightening measures."
1 seconds ago
DBS: NVIDIA’s Valuation Remains Low, AI Stocks Far From Being in a Bubble
DBS Group Chief Investment Officer Hou Wey Fook said that Nvidia’s price-to-earnings (P/E) ratio and projected 70% earnings growth next year indicate that AI-driven tech stocks are still far from forming a bubble. Aggregate data shows Nvidia’s current 12-month forward P/E ratio stands at 17x. Hou compared this to Cisco Systems’ valuation of around 100x before the dot-com bubble burst. He told TV interviews: "If we take Nvidia as the representative company in the AI sector, which currently has a P/E ratio of only in the teens, how can we call this a bubble?" He added that semiconductor and AI investments still have "tailwinds". However, Hou recommended adopting a "barbell strategy" to "control overall portfolio volatility": allocating to tech stocks on the growth end, while pairing with investment-grade fixed-income assets to deliver stable returns, and using hedge funds and gold as intermediate risk-diversification tools.
1 seconds ago
Hong Kong’s Financial Services and the Treasury Bureau: Draft ordinance amendment to be submitted within the year, establishing a licensing regime for virtual asset trading and custody services.
Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated that amid the advancement of fintech innovation, the government will submit a draft ordinance amendment this year to establish a licensing regime for virtual asset trading, custody, advisory, and management services. The Hong Kong Financial Services and the Treasury Bureau, in collaboration with the Hong Kong Monetary Authority (HKMA), is also working on optimizing the legal framework to drive the tech and telecommunications sectors to step up detection and removal of fraud-related content, including AI-generated fraud.
1 seconds ago
某以太坊IC0巨鲸再度卖出1.333万枚ETH
Per Lookonchain monitoring, early Ethereum participant "0xa2F6" sold 13,330 ETH after six months of inactivity, worth roughly $36.37 million. This crypto OG bought 170,000 ETH at a low price of $0.31 via Ethereum's ICO, with a total cost of just $52,700. The batch of ETH is now valued at approximately $461.4 million.
1 seconds ago
Ethereum OG "0xa2F6" Sells 13,330 $ETH ($36.37M) After 6-Month Hold
Ethereum OG "0xa2F6" sold another 13,330 $ETH($36.37M) after 6 months. This OG bought 170,000 $ETH through the ICO at a low price of $0.31 (costing $52.7K, now worth $461.4M).
1 seconds ago
Nikkei 225 index closed up 2.4%
According to Bitget market data, the Nikkei 225 index closed up 1637.40 points, or 2.40%, at 69946.86 points on Monday, October 5.
Spotové $LINK ETF zaznamenaly nejlepší týden od srpna a za pět obchodních dnů přiteklo 8,3 milionu USD. To ukazuje na trvající institucionální zájem o Chainlink.
Demand for @Chainlink exposure through regulated investment products is accelerating. Spot $LINK ETFs just wrapped their best week since August, pulling in $8.3 million across five trading days, a sign that institutional appetite for the oracle network is holding firm even as broader crypto markets remain choppy.
A Remarkably Clean Track Record What makes the inflow story notable is not just the headline figure but the consistency behind it. Since launching, spot $LINK ETFs have recorded just two single days of net outflows and only one week in negative territory. For a relatively young product category, that is an unusually clean record and reflects steady, rather than speculative, institutional accumulation.
extending what has become one of the more consistent inflow streaks among non-Bitcoin and non-Ethereum spot crypto ETFs.
CCIP 2.0 Gives Institutions More Control The ETF momentum arrives alongside a significant protocol upgrade.
Launch partners include Amazon Web Services, Google Cloud, ANZ Bank, Fidelity International, Deutsche Boerse Group's Crypto Finance, and DTCC, among others.
For @SergeyNazarov and the broader Chainlink ecosystem, the combination of sustained ETF inflows and a landmark protocol upgrade makes 2026 a defining year. Whether that momentum translates into a sustained price breakout for $LINK remains to be seen, but the structural foundations are strengthening.
Bitwise Asset Management has taken its Premium RWA Vault, better known as PAPY, to Circle’s Arc blockchain. The vault now sits atop the yield rankings among Morpho vaults on the network, posting a net APY of 4.79%.
How the PAPY-USDC vault works The expansion went live on September 16, 2026, timed to coincide with Arc’s public mainnet launch. The new product, called PAPY-USDC, runs on the Morpho lending protocol using its Vault V2 architecture.
Users deposit USDC, and the vault lends that money out to borrowers who post tokenized real-world assets, or RWAs, as collateral. Those loans are overcollateralized. Borrowers have to lock up more value than they take out, which gives lenders a cushion if things go sideways.
The collateral accepted includes Huma Finance’s PST and sUSDai. The vault may also allocate to cirBTC markets, adding another potential lending venue.
Bitwise acts as the curator but stays non-custodial. It never holds depositors’ funds directly. Instead, it sets the rules: which collateral qualifies, what loan-to-value ratios apply, and which interest-rate models the vault uses.
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The numbers behind the vault PAPY-USDC targets a variable APY of 5-6%. As of early October 2026, the vault reported a net APY between 4.8% and 5.55%, with the Morpho app showing 4.79%.
The fee structure is light. Bitwise charges a management fee of approximately 0.39-0.4%, and there is no performance fee.
Deposits are still modest. In early October 2026, the vault held between $418K and $422K in USDC. The vault’s capacity is capped at roughly $1B.
The vault follows the ERC-4626 standard and has no lock-up requirements. Depositors can withdraw when they want, subject to the vault’s available liquidity.
A second act after Ethereum Arc is not PAPY’s first stop. Bitwise launched a PAPY-AUSD vault on Ethereum on September 2, 2026. That version pulled in over $20 million in deposits within two weeks.
The Arc version arrived just two weeks after the Ethereum launch. The key difference is the currency: Arc’s vault is built around USDC from day one.
Bitwise brings an established footprint to the effort, with $9 billion in client assets.
What this means for DeFi lending and RWA yield For Morpho, the expansion reinforces its role as infrastructure that curators can deploy across multiple networks. Bitwise now runs PAPY on Morpho on both Ethereum and Arc.
The vault’s yields have been variable, ranging from 4.8% to 5.55% in recent reporting, and sometimes falling short of the 5-6% target. Collateral quality is the other key variable: overcollateralization offers protection, but the vault’s safety ultimately depends on how well assets like Huma’s PST and sUSDai hold their value and remain liquid.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Skupina Pretty Good Policy for Zcash se ve Washingtonu zaregistrovala k lobbingu a chce prosazovat zájmy Zcash v americké politice týkající se digitálních aktiv. Na první rok práce získala grant ve výši 750 000 USD.
A Zcash-focused advocacy group has filed to lobby in Washington, stepping up the privacy-oriented cryptocurrency ecosystem’s efforts to shape US policy on digital assets.
Pretty Good Policy for Zcash (PGPZ) filed a lobbying registration effective on Oct. 1, naming executive director Divij Pandya as its sole lobbyist. The registration lists the Digital Asset Market Clarity Act and two digital asset tax proposals as among its current and anticipated lobbying issues.
PGPZ was launched in June this year, growing out of Pretty Good Policy for Crypto, which was launched in 2022 by Electric Coin Co. The initiative hosted Washington policy roundtables and organized a congressional briefing on encryption technologies in 2023.
PGPZ founder and chief policy and regulatory officer of ZODL, Paul Brigner, said the goal is to “make sure Zcash has serious, organized, and credible policy engagement in Washington.”
“Policymakers are making decisions that will affect whether privacy-preserving digital cash can exist, be used lawfully, and serve the public interest. PGPZ is about ensuring Zcash is understood, represented, and defended in those conversations,” he said.
In August, the Zcash Community Grants approved a $750,000 grant to fund PGPZ’s first year of work.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Zcash spustil upgrade NU7 na testnetu, kde se testují změny včetně zkrácení cílového intervalu bloků z 75 na 25 sekund. Aktivace mainnetu je plánována na listopad.
Zcash activates NU7 on testnet ahead of November mainnet targetZcash’s NU7 upgrade is now live on testnet, giving developers several weeks to assess 25-second blocks and other protocol changes before a planned November mainnet activation.
Zcash has activated its NU7 network upgrade on testnet, moving the planned protocol changes into live testing about a month before its targeted mainnet rollout.
According to Zcash testnet block explorer ZecBlock, block 4,465,026 — NU7’s scheduled activation point — was mined on Oct. 4 at 18:21:45 UTC. Zcash confirmed the activation in a post on X, saying NU7 was live on testnet.
NU7 is Zcash’s next network upgrade and seeks to reduce the network’s target block spacing from 75 seconds to 25 seconds. The upgrade also disables version 4 transactions and integrates a Network Sustainability Mechanism that redirects part of transaction fees into future block rewards.
Disabling version 4 transactions would also leave ZEC held in Zcash’s legacy Sprout shielded pool unspendable unless users move the funds before NU7 fully activates.
The Zcash Foundation said on Friday that testnet operators should use the release candidate to test NU7 “under real conditions.” The testnet phase allows developers to assess the upgrade before deciding whether to proceed with mainnet activation.
Zcash developers are scheduled to make a final decision on mainnet activation and set its activation height on Oct. 20, based on their experience with NU7 on testnet. Mainnet activation is targeted for Nov. 5.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The NEAR Intents hacker returned the $3.8 million stolen on October 1, 2026, announced Alex Shevchenko, CEO of the crypto exchange protocol, on October 2 on X. The return happened before the expiration of the 48-hour ultimatum set to the attacker, whom the leader claimed to have identified. Cointribune cross-checked this announcement with Bitquery’s on-chain analysis: about one fifth of the loot passed through NEAR Intents itself during the theft.
In brief Night of September 30 to October 1 (UTC): 3.87M USDT withdrawn in five times from a NEAR Intents vault on BNB Chain, according to Bitquery; NEAR Intents mentions about $3.8M. October 2: the hacker returns the funds before the end of the 48-hour deadline (Alex Shevchenko, on X). As of October 1 at 2:30 PM UTC, 76% of the loot was in bitcoin (34.69 BTC) and 21% had reached KuCoin (Bitquery). The stolen amount is about 1% of the $387.5M stolen from Bitget on September 24 (Cointribune calculation, according to Bitget). How did NEAR Intents recover $3.8M in less than 48 hours? The crypto hacker sent back the funds on October 2, before the ultimatum expired, Alex Shevchenko wrote on X. The announcement comes a week after the Bitget hack, which NEAR Intents said it blocked part of the fund transfers from.
The $3.8M NEAR Intents hacking funds were fully returned. We are stopping the investigation.
According to NEAR Intents on X, a bug in the interaction between the Omni layer of deposit and withdrawal and the main smart contract (the code holding the funds) enabled the theft. The service suspended its operations, promised full compensation, and alerted authorities. Our first article about the NEAR Intents hack details these announcements.
Bitquery’s analysis details the sequence: 3,865,000 USDT withdrawn from a vault on BNB Chain, in five withdrawals over about six hours, after two tests of 10 and 11 USDT.
However, this figure does not tell the whole story. The difference with the $3.8 million announced by NEAR Intents could come from the last withdrawal of 35,000 USDT. Moreover, the detailed report promised on October 1 has not been published at this stage.
Where did the funds go after the crypto hack? As of October 1 at 2:30 PM UTC, 76% of the loot was converted into 34.69 BTC distributed across four wallets, and 21% ($802,000) had reached KuCoin deposit addresses, according to Bitquery. Investigator ZachXBT also reported a passage through KuCoin, then a transfer to Bitcoin.
Another fact noted by Bitquery: about $822,000 was exchanged via NEAR Intents during the theft, automated exchanges that do not reveal what the protocol knew, nor when.
Why did the crypto hacker return the funds? The exact reason has not been publicly established. NEAR Intents claimed to have identified the attacker and gave them 48 hours to practice responsible disclosure, meaning reporting a crypto vulnerability rather than exploiting it, in a message on X.
You know better than most people how responsible disclosure works: this is the last window to use it. After 48 hours, this window closes.
A message attached to a transaction, shared by Alex Shevchenko and apparently from the attacker, acknowledges wrongdoing and invites using the bug bounty programs (rewards for reporting vulnerabilities). The crypto hacker’s identity and the identification method have not been disclosed either.
Is the NEAR Intents hack connected to the Bitget one? At this stage, no public evidence establishes that the two crypto hacks were carried out by the same actor. Bitget suspects a North Korean group for its September 24 attack, without independent confirmation.
NEAR Intents says it blocked more than $50 million in transfers attempted by crypto wallets linked to Bitget: $503,000 frozen in execution and $166,000 passed, according to Alex Shevchenko.
NEAR Intents hack: what we know and what remains unknown ItemInformationWithdrawalsNight of September 30 to October 1 (UTC), $3.87M in five withdrawals (Bitquery)Ultimatum48-hour deadline announced by Alex ShevchenkoReturnOctober 2, before deadline, announced by Alex ShevchenkoAttacker’s identityNot public, identification method not detailedReason for the returnNot publicly establishedTechnical reportPromised, not published at the time of article writingLink with BitgetNo public evidence at this stageSources: NEAR Intents, Alex Shevchenko, Bitquery. Information available as of October 5, 2026. The sequel depends on a deadline still undetermined: the detailed report promised by NEAR Intents. It will reveal whether this hack remains an isolated incident or reveals a weakness in its cross-chain infrastructure, which covers 35 blockchains, after the crypto hacks in September.
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
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@Hedera's native stablecoin market cap has jumped roughly 71% over the past week, reaching approximately $48 million, according to data cited by @BSCNews. The move is notable for a network that is still building out its decentralized finance presence, and it comes against a backdrop of broad stablecoin expansion across the industry.
Still Climbing the Rankings Despite the sharp weekly gain, Hedera sits at just 39th place globally when chains are ranked by stablecoin market cap. That ranking, however, may not hold for long. The network is now within reach of several established layer-1 blockchains, including @Algorand, @XDCNetwork, and @Cardano, all of which have longer track records in the stablecoin space. A continued run at this pace could see Hedera overtake each of them in the near term.
The growth fits a broader pattern on the network. Earlier in 2026, Hedera's stablecoin supply had already been trending upward, with crypto.news reporting in January that USDC accounts for the vast majority of the total stablecoin supply on the chain. Data from DeFiLlama showed stablecoin supply surging nearly 17% over a single seven-day period earlier this year, driven largely by USDC, which accounted for about 99.8% of the total supply.
Why Stablecoin Supply Matters Rising stablecoin supplies on a network signal greater on-chain liquidity, which in turn can fuel increased investor demand for the native token. For Hedera, that native token is $HBAR, which currently carries a market cap of around $4.5 billion and ranks among the top 30 cryptocurrencies globally, according to CoinGecko data, with roughly 44 billion HBAR tokens in circulation.
The stablecoin surge also reflects a wider industry shift. Total stablecoin market capitalization crossed $310 billion in mid-2026, up from roughly $124 billion at the end of 2023, a 150% increase in under three years. As more capital flows into stablecoins across all chains, networks that can attract and retain that liquidity stand to benefit in terms of activity, fee revenue, and ecosystem growth.
For Hedera, the 71% weekly gain in stablecoin supply is a meaningful signal that on-chain activity is picking up. Whether the network can sustain that momentum and close the gap on its L1 peers remains the key question to watch.
Sources:
crypto.news: Hedera price breaks above crucial support as stablecoin supply grows
CoinGecko: Hedera (HBAR) live market data
Spark Money: Stablecoin supply growth and 2026 projections
BlackRock a Ondo Finance spouští na blockchainu tři tokenizovaná portfolia modelových strategií zaměřená na vyšší výnos, diverzifikovaný růst a vysoký růst. Každý token kombinuje akcie, dluhopisy a Bitcoin ETF.
BlackRock built three model portfolios, covering high income, diversified growth, and high growth. Ondo turns each strategy into one token, so investors skip managing and rebalancing separate positions. Tokenized real-world assets near $9 billion in market cap, with equities growing fastest in holders. Partners like Mirae Asset in Korea and SBI in Japan widen access across Asia, Europe, and Australia. BlackRock tokenized portfolios are now entering the onchain market through a collaboration with Ondo Finance. BlackRock built three model portfolios focused on high income, diversified growth, and high growth.
Ondo then converted each strategy into a single token. The portfolios combine stocks, bonds, and Bitcoin ETFs. Holders can trade the tokens around the clock, including outside traditional market hours. The launch comes as tokenized real-world assets near $9 billion in market capitalization.
How the Ondo Tokenization Model Works Tokenization so far has centered on individual assets. Stocks, bonds, Treasuries, and funds have each been placed onchain separately.
This launch takes a different route by tokenizing a complete investment strategy. As a result, investors can hold one token rather than several separate positions.
Coin Bureau described the structure in a post on X. According to the post, BlackRock designs the portfolio while Ondo turns access into an onchain token.
Blackrock took TOKENIZATION to the NEXT LEVEL
Until now, most tokenization has focused on putting individual assets onchain.
Stocks. Bonds. Treasuries. Funds.
Now BlackRock and Ondo Finance are pushing toward something bigger: putting the entire INVESTMENT STRATEGY onchain.… https://t.co/rRCp2nGqTG
— Coin Bureau (@coinbureau) October 4, 2026
Therefore, investors avoid managing and rebalancing multiple positions by hand. Each token represents one of the three BlackRock strategies.
Because the BlackRock tokenized portfolios exist on blockchain rails, the tokens can move between wallets and platforms. They can also connect with other financial applications. Holders may use them as collateral in onchain apps. This feature extends the use of the tokens beyond simple holding.
Coin Bureau added that this move points toward tokenizing asset management itself. Model portfolios held roughly $9.8 trillion in assets as of June, according to Broadridge.
Consequently, asset managers could distribute full strategies through blockchain infrastructure if part of that market moves onchain.
Market Growth and Global Expansion The launch comes as tokenized real-world assets near $9 billion in market capitalization. Among these assets, equities have seen the fastest growth in holders and trading volume.
Ondo’s portfolio tokens enter this market as a new category of product. BlackRock tokenized portfolios therefore join a market that is already expanding.
Ondo has also secured partnerships across Asia, Europe, and Australia to widen access. In Asia, Mirae Asset in Korea and SBI in Japan are among the partners.
The partnerships expand access to the tokenized portfolios in those regions. Together, these partners broaden the distribution of the tokens.
The Coin Bureau post also looked at what could come next. AI could eventually build personalized portfolios around an investor’s goals, risk tolerance, and tax situation.
Tokenization would then provide access to a much wider range of assets. This scenario remains a possibility rather than a confirmed development.
The post also summarized the progression in three steps. Stablecoins brought cash onchain, while tokenization brought assets onchain.
Now BlackRock and Ondo are bringing entire portfolios onchain. According to Coin Bureau, blockchain could become part of global asset management infrastructure rather than only a settlement layer.
Hyperion DeFi vykoupila 240 124 akcií HYPD a splatila zhruba 8,6 milionu USD starého dluhu, čímž zůstala bez dlouhodobého zadlužení. Část splátky financovala prodejem HYPE tokenů.
Hyperion DeFi, Inc. (NASDAQ: HYPD), the first publicly listed U.S. company building on the Hyperliquid blockchain, said on October 2 that it repurchased 240,124 HYPD shares and retired roughly $8.6 million of legacy debt, with the paydown partially funded by HYPE token sales, according to a press release filed with the SEC.
The Dallas-based company bought back 240,124 common shares at a weighted average price of $3.21 per share, before costs and fees, and repaid all outstanding principal and interest under its loan agreement with Avenue Capital. The move leaves Hyperion DeFi with no long-term debt outstanding. Chief Executive Officer Hyunsu Jung said September brought raised guidance, the start of buybacks, the debt paydown and several new business announcements, and thanked Avenue Capital for supporting the shift away from the company’s former biotech brand, Eyenovia.
A treasury funded partly by HYPE As of September 30, the company held about $14.5 million in cash, cash equivalents and stablecoins and owned 1.85 million HYPE tokens, with roughly 15.44 million HYPD shares outstanding. HYPE is the native token of Hyperliquid, a layer-one blockchain built for high-frequency trading, and has traded on major venues since Binance listed it with a seed tag in September. The company said more than 47 million HYPE have been autonomously purchased and sequestered by the network from trading fees on its central limit order books. The network settles orders, cancellations and liquidations in 70-millisecond block times and also runs HyperEVM, a smart-contract platform for permissionless DeFi applications, according to the filing. Staking HYPE grants holders lower trading fees and higher referral bonuses on the network.
From biotech to onchain DeFi Hyperion DeFi describes itself as the first U.S.-listed DeFi company on Hyperliquid, offering shareholders exposure to HYPE through staking yield and onchain utility revenue. The business is expanding alongside a broader build-out of the Hyperliquid borrowing and lending services launched this year. The filing’s forward-looking statements, including plans to scale its onchain DeFi businesses and further optimize its capital structure, remain subject to market and regulatory risks, and the company did not set a timetable for additional buybacks. It provides investors with streamlined access to what it describes as one of the fastest-growing blockchains. The company did not disclose a total dollar value for the repurchase beyond the share count and average price.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
Michael Saylor zveřejnil další graf nákupů Strategy a znovu tím vyvolal spekulace o nové koupi Bitcoinu. Oficiálně ale nebyla potvrzena žádná další transakce.
Michael Saylor has reignited speculation about a new bitcoin acquisition by Strategy. Indeed, he published on October 4 a chart tracing the company’s purchases. However, his publication does not represent an official announcement. Only an official statement from the group will confirm a new transaction.
In brief Michael Saylor reignites speculation about a new Bitcoin purchase by Strategy. No additional purchases have yet been officially confirmed. Saylor’s two previous messages preceded new acquisitions. Strategy now controls more than 4% of the maximum Bitcoin supply. Continuation of purchases depends on Bitcoin price and financing conditions. A new bitcoin purchase by Strategy remains to be confirmed By sharing his chart dotted with orange points, Michael Saylor specified: “more orange than ever”. Each dot represents a bitcoin purchase already published by Strategy.
Such an announcement resembles the messages that preceded the group’s last two acquisitions. It therefore fuels the hypothesis of a new transaction, without providing amounts, periods, or purchase prices.
The latest officially available figures are :
Strategy owned 847,666 BTC as of September 27 ; Their purchase cost was approximately 63.95 billion dollars ; The average price was 75,437 dollars per bitcoin ; The group had completed 116 acquisition transactions ; The portfolio value approached 72.29 billion dollars on the shared chart. At the current price, the unrealized gain approached 8.1 billion dollars. However, this estimate can fluctuate rapidly with the bitcoin price and does not constitute a realized gain as long as the assets remain unsold.
The two previous messages indeed announced purchases Michael Saylor regularly uses his Sunday publications to prepare the market for an official communication. On September 20, he had released a first message while the group owned 845,050 BTC.
The very next day, the company announced the acquisition of 950 bitcoins for 75.7 million dollars. The average price of this transaction reached 79,670 dollars per unit, which raised Strategy’s reserves to 846,000 BTC.
A week later, the same scenario occurred. On September 27, Saylor wrote “even more orange” by publishing a new version of his chart. The next day, the group confirmed the purchase of 1,665 BTC.
This second transaction represented 142.7 million dollars. The bitcoins were acquired between September 21 and 27 at an average price of 85,681 dollars, including fees and expenses.
This repetition reflects the expectations triggered by the new message. However, it does not confirm that a purchase has already taken place. The group would also use this announcement to remind its cash strategy or maintain attention around its stock.
Strategy’s bitcoin purchase relies on its share issuances The net proceeds from ordinary share sales allowed Strategy to finance its latest purchase. Such a method allows the company to raise capital without immediately using its operating cash nor immediately incurring new debt.
However, it carries a cost for the group’s shareholders. Whenever the company issues new shares, their participation in the capital can be diluted. This operation creates value per share only if the bitcoin’s evolution and the financing conditions compensate for this dilution.
Strategy now combines several instruments to feed its reserve. The group can sell ordinary shares, issue preferred securities, or use part of its cash. This structure gradually transforms the company into a financial vehicle exposed to bitcoin.
As of September 27, Michael Saylor’s group also held a reserve of 5.02 billion dollars intended notably for the payment of preferred dividends and debt interests. An additional billion dollars remained available for its treasury operations.
These reserves show that the group does not automatically dedicate all its resources to bitcoin purchases. It must also cover its financial obligations and preserve its ability to withstand a prolonged market downturn.
Strategy now holds more than 4% of bitcoins With 847,666 BTC, Strategy controls a little more than 4% of the maximum supply of 21 million bitcoins. The company thus remains, by far, the largest publicly traded crypto holder.
This concentration gives each new operation an impact that goes beyond its own balance sheet. Strategy’s purchases reduce the amount of bitcoins immediately available on the market, even if their direct impact on the price also depends on the daily trading volume.
The average price of 75,437 dollars now represents an important benchmark for the group. A sustained drop below this level would reduce the value of its portfolio relative to its historical cost. It could also complicate future fundraising if the Strategy share lost part of its premium over its assets.
Conversely, a rise in bitcoin mechanically improves the value of reserves and can facilitate new financing. However, this mechanism remains market-dependent and does not guarantee that every issuance of securities will benefit shareholders.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Peter Schiff says MicroStrategy has pulled its Stretch (STRC) preferred stock back toward its $100 par value. However, he argues the company has lost the issuance channel that funded its Bitcoin purchases.
Even so, Strategy has kept adding Bitcoin, funding its latest purchase with proceeds from common stock sales.
Schiff Credits Buybacks and a Bitcoin Rebound for STRC’s RecoverySchiff, a longtime Bitcoin critic, made the case on his October 2 podcast. He said STRC trades near $99.4, a recovery he admitted surprised him.
MicroStrategy Stretch (STRC) Stock. Soure: TradingViewHe credited Strategy’s weekly STRC buybacks and Bitcoin’s rally for the move. Schiff said that rally may have restored some confidence in the stock or triggered short covering.
The preferred stock had sunk to about $75 earlier this year, which CEO Phong Le blamed on unexpected leverage.
Referring to Executive Chairman Michael Saylor, Schiff argued that the rebound has not reopened Strategy’s key funding route.
“There’s no way that he’s going to be able to start selling more Stretch; that means he’s not going to be able to raise money to really start buying more Bitcoin,” Schiff said.
He added that Strategy has raised enough cash to keep paying STRC dividends a little longer before it runs out. However, he said the company no longer has the machinery to buy more Bitcoin.
Saylor, for his part, pointed to calmer trading in the stock. He said STRC’s 30-day historical volatility stood at 9% as of October 2. That put it below the 10% reading for the SPDR S&P 500 ETF (SPY).
A milestone for Digital Credit: $STRC’s 30-day historical volatility is now 9%, below $SPY. We’re harnessing the power of Bitcoin while reducing price volatility for income investors. This is what financial engineering should do. pic.twitter.com/Jka7oOesa1
— Michael Saylor (@saylor) October 3, 2026
Common Stock Has Funded Most of Strategy’s Bitcoin Buys Since MayStrategy’s weekly filings support part of Schiff’s argument. The company last sold STRC through its at-the-market program between May 11 and 17, raising about $1.95 billion.
Its remaining STRC capacity has held at about $17.51 billion in every filing since, meaning no further shares were sold.
Strategy then paused Bitcoin buying for 10 weeks over the summer, selling coins instead to fund dividends and STRC buybacks. When it resumed in late August, it relied on other funding sources.
It sold class A common stock (MSTR) to fund 4,603 BTC that week and 1,665 BTC in late September. In between, it spent $75.7 million from its USD Cash account on 950 BTC.
Common stock proceeds also flow back into STRC. Between September 21 and 27, Strategy used $103.5 million from MSTR sales to repurchase STRC shares.
Strategy also held a $5.02 billion USD Reserve as of September 27. The company says the pool is meant to support preferred dividends and debt interest.
Schiff expects Bitcoin to roll over once tech stocks pull back. Strategy usually reports purchases on Mondays, so its next filing will show whether common stock sales keep funding its buys.
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Infinex přidal NEAR Chain Signatures a NEAR Intents, takže uživatelé mohou přes platformu spravovat Bitcoin, Dogecoin a XRP bez samostatných mostů a peněženek. Tím zjednodušuje transakce mezi různými blockchainy.
Infinex has introduced NEAR Chain Signatures and NEAR Intents, allowing its users to manage assets like Bitcoin, Dogecoin, and XRP directly through the platform. This move removes the need to operate distinct bridges or individual wallets for every blockchain, significantly simplifying cross-chain transactions.
Unified Cross-Chain AccessWith this integration, Infinex leverages NEAR’s chain-abstraction infrastructure. This system enables applications to interact with multiple different blockchains via a single, unified interface. NEAR Chain Signatures deploy a multi-party computation network overseen by NEAR validators, authorizing transactions on external blockchains securely.
As a result, users can handle assets not native to a specific chain without interacting with the complexities underlying cross-chain actions.
Mini dictionary: NEAR Chain Signatures use a decentralized network of parties to jointly sign and authorize actions on other blockchains. This approach improves security and flexibility in cross-chain asset management by preventing any single party from controlling the process.
According to NEAR protocol documentation, NEAR Intents offers connectivity with 31 different blockchains and supports over 100 digital assets. The cross-chain settlement process typically completes in about 30 seconds.
NEAR’s mechanism employs “solvers”—automated services—which compete to execute users’ requests and route their transactions across networks. Instead of requiring individuals to select a bridge or execution path, users simply specify their desired outcome. The protocol then manages task routing and settlement in the background.
Examples detailed in NEAR’s bridging guides include transfers such as BTC to TON, XRP to Arbitrum, and DOGE to Base. These routes highlight the potential to bring assets from non-EVM chains into broader blockchain ecosystems via a single protocol layer.
This approach redefines Infinex’s integration as more than adding another bridge. It enables assets like Bitcoin, Dogecoin, and XRP to be accessible across a wider array of decentralized applications, broadening their usability within the blockchain space.
NEAR’s Strategic Shift to Cross-Chain InfrastructureNEAR, a smart contract platform originally launched as a Layer 1 blockchain, is now seeking to establish itself as a universal execution layer and cross-chain infrastructure provider. The protocol describes its Intents network as a liquidity layer supporting wallets, DeFi platforms, and AI-driven agents, signaling a move beyond its origins.
The network claims more than $30 billion in total trading volume, spanning activity across 35 blockchains. NEAR’s approach aligns with a wider industry trend of minimizing user reliance on traditional, often complex bridge workflows in favor of seamless cross-chain operability.
NEAR highlights that its Intents network provides cross-chain settlement in around 30 seconds, connecting over 100 assets across 31 blockchains without requiring users to manage technical processes or select individual bridges.
With platforms like Infinex adopting these tools, NEAR aims to position itself at the forefront of cross-chain application development, offering a simplified experience for managing digital assets in multi-chain environments.
Ethereum zůstává pod rezistencí 2 800 USD, zatímco americké spotové ETF na ETH zaznamenaly tři dny čistých odlivů. Trh sleduje i blížící se upgrade Glamsterdam.
Ethereum traded near $2,687 on October 4 after reaching $2,765 briefly the previous day, according to historical data compiled by CoinCodex.
Key price levels and technical landscapeThe $2,700–$2,800 zone marks a critical region for Ethereum, with analysts identifying this range as the dividing line between short-term price consolidation and the potential for a renewed move toward $3,000.
Bulls have repeatedly failed to secure $2,800 as a support level, leaving ETH in a familiar trading range. A sustained close above $2,800 could open the door to $3,000, while further rejection likely puts the $2,600–$2,650 range in focus as the main support area.
Ethereum will need to stabilize above $2,700 and close decisively above $2,800 before a push toward $3,000 becomes plausible, based on current breakout analysis.
Despite periodic attempts to break above resistance, the technical setup for Ethereum remains heavily influenced by both price action and institutional sentiment.
Institutional flows and ETF outflowsRecent data from Farside Investors shows that U.S. spot Ethereum ETFs saw three consecutive days of net outflows through October 2. Investors withdrew $59.6 million on September 30, $55.4 million on October 1, and $17.3 million on October 2, in contrast to stronger demand seen earlier in the quarter.
Coinpaper also reported this divergence, noting that while Ethereum funds moved back to net outflows, Bitcoin-based ETF products showed greater resilience.
ETF/ProductSept. 30 Net FlowOct. 1 Net FlowOct. 2 Net FlowTrendU.S. Spot Ethereum ETF– $59.6M– $55.4M– $17.3MOutflowBitcoin ETFStableStableStableMore resilientThe shift in institutional demand has added headwinds for Ethereum’s rally attempts at key price levels.
Glamsterdam upgrade and price outlookBeyond technicals and fund flows, market attention is turning to the upcoming Glamsterdam upgrade. This major Ethereum network update is set to activate on the Sepolia testnet on October 6 and aims to deliver improvements in Layer-1 scaling, block construction, and gas pricing. Mainnet activation is expected later in the fourth quarter.
Coinpaper has linked the anticipated Glamsterdam upgrade to the possibility of ETH testing the $3,000 mark, should resistance break and positive sentiment build.
Mini dictionary: Glamsterdam Upgrade, the next major Ethereum network update designed to improve core Layer-1 scalability, block production processes, and reduce transaction fees through more efficient gas pricing. Activation will occur first on testnets like Sepolia before mainnet deployment.
Technical analysts have already highlighted a possible connection between the upcoming Glamsterdam upgrade and a renewed attempt by $ETH to break key resistance and approach $3,000.
Stellar skončil ve 3. čtvrtletí 2025 na prvním místě, protože jako jediný v panelu splnil všechny čtyři kategorie: mainnet, produkt, instituce i finanční výsledky. Síť od ledna zpracovala 40 miliard USD.
Crypto rankings almost always sort by price or market cap. This one looks at neither. It counts what each project actually put into production between 1 July and 29 September 2026, with a date and an official source for every milestone. The result: Stellar finishes first, Qubic and Chainlink follow, and two of the market’s heavyweights, Ethereum and Bitcoin, do not even make the table.
In Brief Five projects selected after a review of the CoinGecko top 100 on 29 September, plus Qubic, a guest from outside the top 100 (about $66 million in market cap). Four criteria, nothing else: an upgrade activated on mainnet, a product launched, a named institution or regulator, a usage figure published by the project. Stellar ticks all four boxes with six dated milestones, including MoneyGram joining as a validator and $40 billion processed since January. Chainlink lands the largest institutional deal of the quarter: 17 banks and asset managers connected to Swift’s blockchain ledger. Ethereum, Bitcoin, Solana and Hyperliquid are absent: nothing dated on their mainnet in the third quarter. How was this ranking built? By counting dated, sourced milestones, not promises. A milestone scores one point if it is dated, published by the project itself (blog, press release, GitHub repository) and happened between 1 July and 29 September 2026.
The starting point is the CoinGecko top 100 as read on 29 September. The approach extends the one used in our AI crypto comparison, which already refused to line up Qubic, TAO or Render by price alone.
Four categories were reviewed for each project.
Mainnet: the real version of the blockchain, where user funds actually move, as opposed to test networks. Only an upgrade that was voted and activated counts. Product: a service open to the public. A roadmap does not count. Institutions and regulators: a named partner, a licence obtained, a financial product listed on an exchange. Published figures: a usage number released by the project itself, such as transactions, accounts or volume. Projects are ranked first on the number of categories covered, then on the number of milestones. Ties are broken by the size of the counterparties. What does not count: price, undated announcements, testnets, rumours and forecasts.
RankProject (CoinGecko market cap, 29/09)MainnetProductInstitutionsPublished figuresDated milestones1Stellar (XLM), $7.8BYesYesYesYes62Qubic (QUBIC), $66M, outside top 100YesYesNoYes63Chainlink (LINK), $10.9BNoYesYesYes54Injective (INJ), $0.77BUnconfirmedYesYesYes55Ondo (ONDO), $2.5BNoYesYesNo6Market caps rounded, read on CoinGecko on 29 September 2026. Just behind, with two categories each: TRON, Algorand, Zcash, Avalanche, XRP (see below). Why does Stellar finish first? Because it is the only network in the panel to tick all four boxes with dates. One upgrade, two products, three named partners and one published activity figure, all in twelve weeks.
On 8 July, validators activated Protocol 27, nicknamed “Zipper”. Validators are the computers that confirm transactions. The upgrade lets an account delegate its signature check to another address, which simplifies multi-signer wallets (Stellar software versions).
On 16 July, MoneyGram, Figure Markets and Range became Tier 1 validators (press release, 16 July).
The day before, Tradable had committed to tokenize up to $1 billion of private credit on the network (press release, 15 July). Tokenizing means representing a traditional asset as a token on a blockchain.
On 2 September, USDT0, the multi-chain version of Tether’s stablecoin, went live on Stellar. The same release puts the value processed by the network since January at $40 billion (press release, 2 September).
On 22 September, payments infrastructure provider BVNK integrated the network (press release, 22 September).
Denelle Dixon, CEO of the Stellar Development Foundation, on 2 September:
Stellar has been trusted to power cross-border payments for more than a decade and the addition of USDT0 to the Stellar ecosystem strengthens the network’s industry-leading payments stack.
What is missing: no active-user figure in any of these releases, and the stablecoin clearing prototype linked to the Bank of England’s settlement system, announced on 3 September, remains a prototype.
Qubic: what is a project outside the top 100 doing here? On the grid, it matches the big names. On market cap, it is nowhere near them. Six dated milestones in one quarter, no named institution, and a $66 million market cap, one hundred times smaller than Stellar.
Qubic has its miners work on useful computations, in practice training neural networks, instead of disposable ones. The project calls this useful proof of work, which we detailed in Qubic: turning every CPU cycle into real-world value.
On 29 July, Outsourced Computing went live on mainnet: third parties can now buy the miners’ computing power. On 4 August, the AIO developer kit was released publicly.
On 19 August, at epoch 227, token issuance was cut in half, an event known as a halving (Qubic recap of the 6 August meeting, published 13 August).
At epoch 228, in late August, Ant Colony mining was activated. Instead of each starting from scratch, miners extend results published by others. Each published result requires a 1 million QU deposit, and the 676 best miners are rewarded every week (Qubic blog post, 4 September).
On 22 September, the project reported a score of 0.38 for its Neuraxon model on ARC-AGI-3, a reasoning benchmark for artificial intelligence, up from 0.13 at the start, achieved on standard CPUs with no graphics card. The same recap reports a live cross-chain oracle and AEON Pay coverage at more than 20 million merchants in six countries (Qubic recap, 22 September).
The limits are clear. The ARC-AGI-3 score is self-reported by Qubic, not taken from a third-party leaderboard.
The Alchemy Pay purchase campaign converted $12,613 from 38 buyers between 29 July and 28 August, a modest figure the project publishes itself.
The legal entity needed for its MiCA file, the European crypto-asset regulation, is “being registered”. No bank, no regulator, no exchange named this quarter. Hence the empty “Institutions” box, and second place rather than first.
Chainlink: the quarter of the institutions Five milestones in six weeks, every one with a named counterparty. A ranking weighted by partner size would put Chainlink on top. That is not the choice made here, and we say so.
Chainlink is a network of oracles: it feeds smart contracts with real-world data, such as a price or a bank reserve.
On 18 August, the State of Wyoming migrated its FRNT stablecoin to CCIP, Chainlink’s protocol for moving assets between blockchains, across eight networks (press release, 18 August). On 2 September, the same state adopted Chainlink Proof of Reserve (press release, 2 September).
On 24 August, Coinbase chose Chainlink price feeds for its tokenized stocks on Base (press release, 24 August).
On 28 September, CCIP 2.0 launched, with ANZ, Fidelity International, Sygnum and SBI Digital Markets among the named users, and $84 billion of cross-chain value secured according to the project (press release, 28 September).
The heaviest milestone came the same day: 17 financial institutions connected, in a pilot, to Swift‘s blockchain ledger through Chainlink’s runtime environment (Chainlink press release). We covered the starting point of that relationship in Chainlink enables tokenized asset transactions via Swift integration.
Sergey Nazarov, co-founder of Chainlink, in that release:
I’m very excited about the Swift ledger and what it will mean for tokenized deposits, as well as where global payments goes next.
One nuance to keep: this is a pilot, not a production rollout, and the oracle network itself saw no dated upgrade this quarter.
Injective: shipping inside a regulated frame An SEC registration, $1 billion of tokenized mortgage records, and INJ on Solana. Three categories covered, a fourth possible but unverified.
On 19 August, Injective Institutional Services was registered as a transfer agent with the SEC, the US securities regulator. A transfer agent keeps the official register of who holds a security (Injective blog post, 19 August).
On 4 September, Pineapple Financial tokenized more than $1 billion of mortgage records on the network (blog post, 4 September).
On 17 September, the INJ token became available on Solana (blog post, 17 September). On 22 September, Injective opened stablecoin payments at thousands of merchants through Bitrefill (blog post, 22 September).
What is not counted: two mainnet upgrades, IIP-677 in late July and Meridian on 24 September, relayed by exchanges but not found on Injective’s blog or governance page as of 29 September. If they are confirmed, Injective covers four categories and moves ahead of Qubic and Chainlink.
Ondo: tokenized stocks move from pilot to regulated framework Six milestones, including three US authorisations, but no network upgrade of its own and no usage figure. That is what keeps it in fifth place despite sharing the highest milestone count in the panel with Stellar and Qubic.
Ondo tokenizes US financial assets. On 15 July, it launched the first tokenized stocks backed by entitlements held at the DTC, the US central securities depository (Ondo blog post, 15 July).
On 23 July, its subsidiary Oasis Pro Markets obtained FINRA authorisations, the US broker-dealer regulator, to offer tokenized stocks and funds to US investors (blog post, 23 July).
On 16 September, it became the first tokenization platform to join Fund/SERV, the DTCC system that handles 85% of US fund transactions (blog post, 16 September).
Talia Klein, Managing Director at DTCC, in that post:
Interoperability between traditional infrastructure and digital asset ecosystems will be critical to achieving scale and broad market adoption.
Add the SBI partnership in Japan on 16 July, USDY on BNB Chain on 4 August and Ondo Stocks on NEAR on 22 September (blog post, 22 September). None of these posts gives a volume, a holder count or assets under management: the “Published figures” box stays empty.
Just behind: TRON, Algorand, Zcash, Avalanche, XRP Five projects with two categories each, including the fifth-largest by market cap. They fall outside the top 5 on the grid, not on importance.
TRON changed nothing dated on its protocol, but the first spot staked TRX ETF listed on Cboe on 9 September, and the project published $30 trillion in cumulative volume and 405 million accounts on 24 September (press release, 24 September). The previous step is in TRON breaks records: 400 million accounts.
Algorand did the opposite: protocol, no partners. Post-quantum accounts, built to resist future quantum computers, have been live since 20 August, with 1.24 million transactions in nineteen days, and the August report counts 677,000 active wallets (August report).
Zcash responded to a flaw discovered in May: the Ironwood upgrade on 28 July closed the old shielded pool and opened a new one (official NU6.3 page), then Grayscale’s Zcash ETF listed on NYSE Arca on 25 August. Context in Grayscale launches the first Zcash ETF listed in the United States.
Avalanche has only two milestones, but heavy ones: the Helicon upgrade on 22 September, six proposals activated at once (v1.15.0 on GitHub), and the Goldman Sachs FTIXX money market fund made accessible through Lynq, a settlement network built on a private Avalanche chain (tZERO press release, 28 September).
XRP: Ripple obtained its full CASP licence under MiCA on 6 July, valid in thirty countries (Ripple press release), and launched Ripple Mint on 23 July. On the XRPL side, versions 3.3.0 and 3.4.0 were released, but no major amendment activation is confirmed as of 29 September: released software is not activated software.
Who is missing, and why? The absentees are not stalled projects. Their quarter played out on test networks.
Ethereum activated Fusaka on 3 December 2025. Since then, everything has happened on testnets: Glamsterdam is scheduled on Sepolia for 6 October and the mainnet date is “not decided” (Ethereum announcement, 17 September).
Bitcoin: Core 31.0 shipped on 19 April, nothing dated since (31.0 release notes). Solana did activate Transaction V1 on 9 September, but Alpenglow slipped to October (Solana changelog, 18 September): one category only. Hyperliquid has only dated testnets.
Cardano completed its van Rossem hard fork on 18 July, the first ratified entirely by an on-chain vote (Intersect post): one category, one milestone.
What this ranking does not tell you Counting is not weighing. Avalanche sits outside the top 5 with two milestones, each of which outweighs half the table. Chainlink would be first if ranked by counterparty size. The grid is deliberately simple so it can be verified; it is not fair in every case.
The figures are self-reported. Chainlink’s $84 billion, Stellar’s $40 billion, Qubic’s 0.38 are published by the projects. None has been audited by a third party as far as we know. And a quarter is a snapshot: Kaspa activated Toccata on 30 June, one day too early to make it here.
Finally, there is no link to price. Algorand, outside the top 5, saw ALGO gain 72% in six weeks. Stellar, first, publishes no figure of that kind. Shipping and rising are two different things, and this article makes no forecast.
On the current market dynamics, see Altcoins outperform Bitcoin, but this is not altseason yet.
FAQ Does a project outside the top 100 belong in a crypto top 5? Yes, provided the same grid is applied and its market cap is shown. Qubic weighs about $66 million, one hundred times less than Stellar, and it is a Cointribune partner. Both facts are in the table. Excluding it on market cap alone would amount to ranking by price, which this article refuses to do.
Where can I check each milestone myself? Every date in this article links to the project’s blog, press release or GitHub repository. For software versions, the repository’s “releases” page is the reference. For ETFs, the issuer’s press release and the listing exchange’s page.
Why don't testnets count? Because a testnet can slip with no consequence for users. Alpenglow at Solana and Glamsterdam at Ethereum were both pushed back this quarter. Only mainnet commits user funds, so only mainnet counts.
Will this ranking be updated? Yes, at the end of each quarter, with the same grid. The next dated deadlines: Glamsterdam on Sepolia on 6 October, Alpenglow targeted for October by Solana, and Zcash’s NU7 upgrade targeted for 5 November according to developers, a date not confirmed by the Foundation.
On 6 October, Ethereum will activate Glamsterdam on Sepolia. If mainnet follows before 31 December, the fourth-quarter table will have a new leader. If not, the question will be the same as today: who ships, and who announces?
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The Cointribune editorial team unites its voices to address topics related to cryptocurrencies, investment, the metaverse, and NFTs, while striving to answer your questions as best as possible.
Aave founder Stani Kulechov has publicly challenged positions taken by European authorities as the European Commission reviews the Markets in Crypto-Assets Regulation (MiCA).
In comments published on October 2, 2026, he said he was disappointed by the European Central Bank and the European Banking Authority’s submissions to the MiCA consultation.
Those submissions, he argued, go beyond existing limits by calling for a ban on yields paid on stablecoins.
They also seek tighter limits on how crypto-asset service providers can connect customers to decentralized finance.
That would cover protocols that generate returns on stablecoins not authorized under MiCA, even though the authorities have not set out a workable description of how such access should operate.
Kulechov further noted that the responses favor confining DeFi access, for providers that offer it, to selected categories of users through so-called suitability tests.
They also raise the possibility of a certification system for decentralized lending protocols.
He said it is not clear how either requirement could be applied in practice.
If public authorities themselves decide which protocols count as appropriate for users in Europe, the outcome could diverge sharply from the open DeFi markets that exist now.
In his view, the more likely result would be additional walled gardens.
Those closed environments would weaken the liquidity and network effects that open financial systems depend on, and would narrow the options Europeans have for building or protecting wealth.
Disappointed by the European Central Bank’s (ECB) and European Banking Authority’s (EBA) responses to the MiCA consultation.
They are not only advocating for a prohibition on paying yield on stablecoins, but also for restrictions on CASPs providing access to DeFi, including…
— Stani (@StaniKulechov) October 2, 2026
Although the proposals are framed as consumer protection, he warned that overly broad limits can instead add friction, slow innovation, and delay the growth of financial infrastructure that is open, transparent, and auditable.
He contrasted that approach with the practical capacity of onchain systems. Stablecoins, decentralized finance, and tokenized securities, he said, can reduce operational drag, improve visibility, and widen access to financial opportunities.
Consumers and businesses in Europe stand to gain if firms developing that infrastructure are able to keep building and competing from inside the region.
He also observed that US agencies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have lately shown a more pragmatic stance toward onchain innovation.
Kulechov urged European authorities to place users and their interests at the center of the rulebook.
Banks and other established firms, he argued, should adjust their models so they can serve customers in an economy that is moving onchain, rather than depend on artificial barriers that raise costs and cut access while activity elsewhere continues.
He closed by stating that decentralized finance will ultimately prevail.
The remarks sit against Aave Labs’ own late-September submission to the Commission’s MiCA review, in which the firm pressed for clearer treatment of lending returns and for rules that leave room for non-custodial protocols.
The exchange highlights a live dispute over how far Europe’s crypto framework should reach into yield products and into the gateways that regulated firms use to reach decentralized markets.
Solana roste díky silným přílivům do ETF a stakingu před chystaným upgradem Alpenglow. Spot Solana ETF přidaly v září přes 271 milionů USD a ve stakingu je už přes 442 milionů SOL v hodnotě 53,7 miliardy USD.
Solana (CRYPTO: SOL) has staged a strong comeback in the past few months, and this rally may continue as ETF and staking inflows jump ahead of the closely anticipated Alpenglow upgrade. SOL token jumped to $121.60, up by 100% from its lowest level this year.
Solana ETF and Staking Inflows are RisingSOL token has rebounded, mirroring the performance of Bitcoin (CRYPTO: BTC) and Near Protocol (CRYPTO: NEAR), which have jumped by double digits from their lowest levels this year.
The rally has also coincided with the ongoing accumulation by retail and institutional investors. SoDoValue data shows that spot Solana ETFs had over $271 million in inflows in September after adding $193 million in the previous month.
These funds have added over $478 million in inflows in the last three months, bringing the net assets to $1.9 billion. Bitwise’s BSOL ETF leads the charge with over $1.32 billion in assets and is followed by Fidelity’s FSOL, Grayscale’s GSOL, and Morgan Stanley’s MSOL, which have $242 million, $220 million, and $57 million in assets, respectively.
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The amount of staked Solana is also on a strong upward trend as investors take advantage of the 5% reward rate. Its staking ratio jumped to 70%, with over 442 million coins worth $53.7 billion being staked. This is important because investors who have staked their coins tend to hold them for a long time.
The ongoing rise in Solana demand is happening as investors wait for the upcoming Alpenglow upgrade, which will make it a better chain than its peers. It will introduce faster speeds and the Votor and Rotor systems. Votor has already been activated on the mainnet’s testnet, while Rotor will likely happen later. Eventually, the upgrade is expected to be activated later this quarter.
Solana Price Technicals Point to a ReboundSOL price chart | Source: TradingView
The daily chart shows that Solana price bottomed at $60 in June and then doubled to the current $121.60. It formed a bullish flag pattern between August 17 and September 27. This pattern is made up of a vertical line and a descending or horizontal channel.
The coin then made a strong bullish breakout and moved above the key resistance level of $110, which was the upper side of the flag. It has then formed a golden cross pattern, which happens when the 50-day and 200-day moving averages cross each other.
These patterns suggest that the SOL token will continue rising in the coming days or weeks. If this happens, the next key target to watch will be at $148, its highest level on January 14 this year. Such a move would suggest a 23% surge from the current level.
Tokenized stocks on Solana have racked up $12.4 billion in decentralized exchange trading volume so far this year. Raydium accounts for the biggest share, at $6.1 billion.
The numbers behind the surge
In Q2 2026, Solana recorded $5.8 billion in tokenized equity DEX volume, a 114% jump from the prior quarter.
That same quarter, Solana captured approximately 95% of global on-chain equity DEX trading.
September 2026 alone produced $4.4 billion in tokenized stock DEX volume on Solana, with Raydium and Orca handling the flow.
Raydium has become the default venue for this activity. In recent snapshots, it routed over 90% of Solana’s tokenized stock DEX flows, and its cumulative volume in the category passed $5 billion by mid-September.
Through mid-September, Raydium processed about $2.3 billion in tokenized stock volume during Q3 2026. That works out to a 40% increase over the previous quarter.
Across all blockchain networks, tokenized stocks generated $48.7 billion in volume over the preceding 12 months, and Solana’s share often tops 95% during peak trading windows.
Tokenized equities have also claimed over 4% of total DEX spot volume in 2026.
How xStocks built the on-ramp
Much of this growth traces back to one product: xStocks, built by Backed Finance. Each token is backed 1:1 by an equity held with a custodian.
By September 18, 2026, xStocks had surpassed $6 billion in cumulative Solana trading volume.
That figure represents 54% of all tokenized stock volume in Solana’s history.
Traditional stock markets keep business hours, while DEXs run 24/7, so a trader can react to news on a Saturday night instead of waiting for Monday’s opening bell.
Regulation and rivals enter the frame
The growth has coincided with a shifting regulatory backdrop. A recent SEC innovation exemption is designed to make compliant on-chain trading easier.
Solana is not the only chain chasing this market. BNB Chain has its own bStocks offering, and Robinhood Chain is also competing for on-chain equity traders.
What this means for traders and the market
Raydium handling over 90% of flows in recent snapshots and xStocks owning 54% of historical volume make the ecosystem efficient, but also dependent on a small number of players.
The custody model deserves attention too. Tokens backed 1:1 by custodied shares are only as reliable as the custodian and the issuer behind them, so traders are taking on counterparty considerations that do not exist when owning a stock directly.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
SHIB je nově dostupný na Solaně přes Sunrise, takže lze tento původně ERC-20 token obchodovat přímo v ekosystému Solany. Integrace rozšiřuje jeho on-chain možnosti, aniž by opouštěl Ethereum.
Shiba Inu (SHIB), one of the largest meme coins in the crypto space, has arrived on Solana via Sunrise, now providing Solana market access to the Ethereum token's canonical form.
The update allows SHIB to be accessed and traded directly within the expansive decentralized finance (DeFi) ecosystem of Solana without the need to jump out of the ecosystem to access the crypto token.
Solana described Shiba Inu as "one of the largest communities in crypto" and pointed out how the project has expanded beyond its origins as a meme cryptocurrency with a dog-themed mascot.
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Crucially, the Solana debut doesn't mean SHIB is leaving Ethereum. The original form of SHIB is an ERC-20 token. Nor does it mean Shibarium is moving to Solana. Sunrise is simply bringing in the canonical Solana representation of the asset to be able to trade within Solana's markets.
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Wormhole Labs-powered Sunrise is an asset gateway designed to bring assets from external ecosystems to Solana.
This includes the creation/recognition of a canonical Solana token, provisioning liquidity, and integration with wallets, DEXs, and aggregators.
That's important to note because otherwise multiple unofficial versions of the same cryptocurrency can exist on a blockchain. As a result, there may be fragmented liquidity.
On the other hand, Sunrise seeks to create a canonical mint that has the issuer's approval
Welcoming external assets Back in November 2025, when Sunrise first launched, the asset gateway's major listing was Monad's MON. Since then, the list has grown a lot.
For example, in September, Dogecoin made its way to Solana via Sunrise and Wormhole NTT.
On Sept. 18, PEPE came to Solana. Per Solana's tweet, the meme cryptocurrency that lives on Ethereum is now accessible across Solana applications via Sunrise.
SHIB's muted response
SHIB has so far seen very little meaningful price response to the Solana news, despite the increased ecosystem reach.
At press time, the meme cryptocurrency is trading at around $0.0000057.
Nonetheless, the integration has significantly expanded SHIB's on-chain trading options.
Solana recorded its strongest month yet for tokenized stock DEX trading. Raydium drove most of September’s acceleration, while activity spread across multiple venues. Off-hours trading is becoming a major part of the market. October will test whether September’s surge represents durable liquidity or a temporary spike. Tokenized stock trading on Solana reached a record in September, with decentralized exchanges processing more than $4.4 billion, according to Blockworks data shared by Solana in X.
Solana transaction activity reached a quarterly record in Q3 2026. The monthly chart shows a sharp acceleration from the relatively small market of 2025. Activity first broke higher in June 2026, cooled over the following two months and then climbed to a new peak in September.
Raydium was the main driver. Reported volume on the exchange reached approximately $2.8 billion, up more than fivefold from roughly $500 million in August. Orca, Meteora, Byreal, Tessera, JupiterZ and several smaller venues accounted for the rest of the market.
Trading Activity Is Outpacing Asset Growth Solana’s tokenized equity supply reached roughly $684 million in September. Against monthly trading activity, that implies turnover of approximately 6.4 times the value of equities represented onchain.
The comparison does not measure capital inflows. Supply is a point-in-time measure, while trading volume counts repeated transactions. Instead, it indicates that the market is developing significant secondary turnover rather than simply accumulating tokenized shares in wallets.
The visual below adds a different dimension: where the market’s liquidity is coming from and what still needs to be tested.
Solana Tokenized Equities
September’s Liquidity Map
Market Structure
Raydium
Dominant liquidity venue
Orca + Meteora
Established alternative pools
Long-tail DEXs
Liquidity spreading across more venues
Next Market Test
Spread Quality
Can liquidity stay tight during volatility?
Off-Hours Pricing
How closely do tokens track closed U.S. markets?
October Retention
Does record activity persist?
Source: Blockworks and Solana ecosystem data
xStocks and Ondo Expand Solana’s Equity Market Solana’s tokenized-stock market is developing around more than one issuance model.
Backed Finance’s xStocks helped establish early activity. By mid-September, the products had generated more than $6 billion in cumulative Solana trading volume, with SPYx, CRCLx, TSLAx, NVDAx and QQQx among the most actively traded instruments.
xStocks are tracker certificates designed to provide economic exposure to their referenced securities rather than direct ownership of the corresponding U.S.-listed shares.
Ondo Finance takes a different route. Its Global Markets platform connects token issuance and redemption with securities held through traditional financial intermediaries and has expanded to hundreds of tokenized stocks and ETFs.
The different structures matter as liquidity moves beyond issuer platforms and into third-party DEXs. Investor rights, redemption mechanisms and access restrictions depend on the product rather than simply the blockchain on which it trades.
Most Activity Happens Outside U.S. Market Hours One of the more unusual characteristics of Solana’s equity market is when investors are trading.
Solana ecosystem data indicates that 63% of cumulative tokenized-equity volume through August occurred outside standard U.S. stock-market hours.
That creates functionality conventional equities cannot provide, but also introduces a structural pricing problem.
Tokenized Nvidia or Tesla exposure can continue changing hands while Nasdaq is closed. During those periods, traders lack continuous price discovery from the underlying cash equity market. Liquidity can thin, spreads can widen and token prices can move before the underlying security reopens.
Continuous token trading therefore should not be confused with continuous trading of the underlying stock.
September Puts Liquidity Under the Spotlight The September record shifts attention from how many equities can be tokenized to how well those assets actually trade.
Solana now has multiple issuers, several DEX venues and meaningful activity outside U.S. trading hours. The harder test is whether that infrastructure can maintain deep liquidity and reliable pricing through different market conditions.
October should provide the first indication. If activity remains elevated while liquidity broadens beyond Raydium, September will look less like an isolated surge and more like a structural expansion of Solana’s tokenized-equity market.
Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.
ether.fi uzavřela partnerství s Aave a Optimism, aby do roku 2027 navýšila úvěrovou kapacitu pro kartu ether.fi Cash na 500 milionů USD. Nyní má v oběhu zhruba 22 milionů USD.
ether.fi entered into a three-way infrastructure partnership with decentralised lending protocol Aave and layer-2 network Optimism to expand the borrowing capacity underpinning its ether.fi Cash Visa card. The company says it will deploy a dedicated Aave V4 lending instance on Optimism’s OP Mainnet, targeting $500 million in lending capacity by 2027, up from approximately $22 million currently outstanding across its cardholder base. The move is presented as a response to outgrowing in-house credit infrastructure. ether.fi Cash, which launched in partnership with Visa in 2024, now counts 100,000 active cardholders across 300,000 registered accounts, a scale the company says has made bespoke lending architecture necessary rather than optional.
How the infrastructure stack works The technical arrangement assigns a specific role to each partner. Aave V4 provides a single lending market capable of accepting a wide range of collateral types held by cardholders: Ethereum derivatives, wrapped Bitcoin, stablecoins, platform tokens and vault receipts. Crucially, Aave V4 issues risk parameters on a per-asset basis within that unified market, which matters when collateral quality varies as widely as it does across a retail crypto user base.
Optimism’s OP Mainnet supplies the execution layer. The rationale is latency and cost: consumer card spending demands near-instant settlement at a price point that is commercially viable for sub-hundred-dollar transactions, conditions that Optimism’s rollup architecture is intended to meet.
Mike Silagadze, founder and chief executive of ether.fi, framed the ambition broadly. “Aave and Optimism are the right partners to help us scale from tens of millions to half a billion dollars in lending capacity. This partnership is about making it possible for anyone holding digital assets to use them like real financial capital, without ever having to sell,” he said.
Dan Roesbery, vice president of global crypto partnerships at Visa, noted that ether.fi Cash was helping bridge on-chain capital with everyday spending, though the statement did not add commercial detail to that claim.
Market context and competitive read-across The announcement lands against a backdrop of accelerating crypto card volume. According to data cited in the release from research firm Artemis, monthly crypto card spending rose from around $100 million in early 2023 to more than $1.5 billion by late 2025. Separate data from a16z and Paymentscan put July 2026 global crypto card spending at $759 million across roughly nine million transactions, approximately 2.5 times the $306 million recorded in July 2025. Optimism is reported to account for around 29% of that volume, ahead of Solana and Base, which each carry approximately 19%.
The credit-against-crypto model that ether.fi Cash uses sits in a structurally interesting position in the payments landscape. It competes not only with other crypto card issuers but, more broadly, with collateralised lending products offered by centralised exchanges and with the emerging cohort of DeFi-native credit facilities. The distinction ether.fi stresses is non-custodial ownership: cardholders are said to retain full ownership of their digital assets while drawing credit against them, which removes the counterparty risk present in exchange-based borrowing but introduces smart contract risk in its place.
For Optimism, the partnership is the latest in a series of institutional infrastructure deals. The network recently signed an MOU with South Korean fintech Toss to pilot a won-backed stablecoin, and has agreements covering Bitpanda‘s Vision Chain and Mitsui and Co.’s tokenised metals platform, Zipangcoin. Each deal reinforces Optimism’s positioning as a managed infrastructure provider for regulated and semi-regulated financial use cases rather than a purely retail-speculative chain.
The key milestones to watch are whether the $500 million lending capacity target is reached on schedule, which collateral types prove most popular in practice, and how the arrangement is treated by regulators as crypto card products draw increasing attention from payments supervisors in both the UK and the EU under evolving digital assets frameworks.
AI level 1 of 5: written by Darlyn Ho; AI helped with tone, structure or wording; edited and signed off by Mark Walker, Editorial Director. What the levels mean
Injective spustil Stockdrop a účastníci si nyní mohou nárokovat tokenizované akcie. Community BuyBack zároveň uzavřel více než 7,2 milionu INJ, které byly dosud spáleny.
TLDR: The Community BuyBack closed with more than 7.2 million INJ burned, and Stockdrop claims are now open. CypherOS made its first public appearance as a privacy platform for confidential trades and tokenization. Canary Capital filed Amendment No. 3 for a Staked INJ ETF that plans to stake at least 90% of holdings. Robinhood now supports INJ trading and transfers, giving users native INJ access without a bridge. Injective Stockdrop went live this week, allowing participants to claim tokenized stock rewards. The Community BuyBack closed with more than 7.2 million INJ burned to date.
CypherOS also made its first public appearance as a privacy platform on the network. Meanwhile, Canary Capital filed an amendment for a Staked INJ ETF, and Robinhood added INJ trading and transfer support. These updates form the main developments on Injective over the past week.
The first Injective Stockdrop is now live. The Community BuyBack that preceded it has ended. According to the project, more than 7.2 million INJ have been burned to date.
Stockdrop participants can now claim their tokenized stock rewards. The project refers to eligible community members as loyal ninjas.
CypherOS also made its first public appearance this week. Injective shared a preview of the platform. CypherOS is built for confidential transactions, trades, and tokenization. The project describes it as a privacy platform on Injective. Injective positioned the platform for use across its network.
Injective’s post on X also listed several ecosystem launches. Sprout (@sproutsomefun) lets users bridge, discover, and trade new launches in one place. RunUp (@runupdotfun) is now live as well.
The first Injective Stockdrop went live. The Community BuyBack closed with more than 7.2 million $INJ burned to date with loyal ninjas now being able to claim tokenized stocks. CypherOS also made its first public appearance as the privacy platform for confidential transactions,… pic.twitter.com/rvRzdtPYT0
— Injective 🥷 (@injective) October 4, 2026
It allows users to launch tokens powered by long or short perp markets. Both projects operate within the Injective ecosystem.
INJ is now live across the Solana ecosystem. Support includes Phantom and several trading, launch, and data apps. The FOMO thesis competition also ended.
INJ was sent to every winner, and Injective said more releases are on the horizon. The network included these items in its weekly recap.
Institutional Access and Network Activity Canary Capital filed Amendment No. 3 to its SEC registration statement for a Staked INJ ETF. According to the update, the fund plans to hold spot INJ.
It also intends to stake at least 90% of its US institutional holdings. Injective shared the filing detail in its weekly post on X.
Robinhood now supports INJ trading and transfers. Users therefore get a direct route into Injective with native INJ. The platform does not require a bridge.
Robinhood users can trade without moving assets across chains. Injective listed the update among its top developments this week.
Injective and LG CNS are also working together. The goal is to bring more activity onchain through a 24/7 programmable economy.
In addition, Injective hosted the largest institutional event during Korea Blockchain Week. Attendees included members from Coinbase, the Federal Reserve, LG, BitGo, and more.
Network data was also part of the update. Injective has processed more than 3 billion transactions. More than 42 million of those took place in the past 30 days. Injective listed these figures under key stats.
Arbitrum v září dosáhl rekordních příjmů 5,45 milionu USD, zhruba o 500 % více než v předchozím měsíci. Na 87 % se na tom podílely licenční poplatky Orbit.
The @arbitrum network posted its strongest month on record in September 2026, generating more than $5 million in chain revenue and marking a roughly 500% increase from the prior month. The headline figure underscores how quickly Arbitrum's monetization model has matured since the launch of Robinhood Chain earlier this year.
A Record Fuelled by Orbit Licensing According to data released by the Arbitrum Foundation, total network revenue for September reached $5.45 million, a new all-time high for a single month. Of that, $4.75 million came from Orbit licensing fees, roughly 87% of the total, rather than from direct transaction activity on Arbitrum One itself. Much of that licensing income is linked to @RobinhoodCrypto's Robinhood Chain, which launched its public mainnet on July 1, 2026, built on Arbitrum's Orbit technology stack.
Under the Arbitrum Expansion Program, any Orbit-based chain settling outside Arbitrum One or Arbitrum Nova returns 10% of its net protocol revenue to the Arbitrum ecosystem. Of that 10%, 8% flows to the ArbitrumDAO treasury and 2% to the Arbitrum Developer Guild. Robinhood Chain's heavy trading volumes through September translated directly into a material licensing payout for the DAO.
$ARB has also continued to see strong on-chain usage in 2026, having processed approximately $1.5 billion in additional transactions over the course of the year.
Strong Growth, But Context Matters The September record builds on an already impressive first half. The Arbitrum Foundation's unaudited H1 2026 report showed the DAO generated $6.19 million across Arbitrum One transaction fees, Timeboost, Orbit licensing, and treasury management over the first six months of the year. The September figure alone nearly matches that entire first-half total, illustrating the pace at which Robinhood Chain has scaled.
Investors and analysts should note, however, that the bulk of September's revenue was concentrated in a single income category. Licensing fees from one high-activity partner can fluctuate significantly between months, and it remains to be seen whether this level of Orbit fee income will persist as Robinhood Chain's trading volumes normalise following the end of its free-gas promotion on September 29. Direct network activity on Arbitrum One, while growing, contributed a much smaller share of the total.
The results nonetheless demonstrate the commercial potential of Arbitrum's infrastructure licensing model, and set a clear precedent for other regulated financial institutions that may look to build on the Orbit stack in the months ahead.
Sources:
Arbitrum Network Revenue Reaches $5.45 Million, a September Record – TokenPost
Arbitrum Sets Revenue Record at $5.45M in September – Phemex
Arbitrum Jumps 19% Benefitting From Robinhood's $568M Onchain Trading Frenzy – CoinDesk
Bitcoin (BTC) enters a historically strong month facing four pressures. Thin liquidity, weaker ETF demand, the Iran war, and a Mt. Gox deadline weigh on it.
The largest cryptocurrency has closed higher in 10 of the last 13 Octobers, with a median gain of 12.73%, Coinglass data shows. So far this month, BTC is up 1.98%
Bitcoin (BTC) Monthly Price Returns. Source: CoinglassStablecoin Supply Is Refilling But SlowlyAnalyst Darkfost said too little liquidity is reaching the crypto market. The stablecoin market cap has lost $14 billion since May, pointing to sizable outflows.
Supply has recovered $4 billion since September, lifting the total to about $270 billion. Still, Darkfost called the rebound too timid to push Bitcoin to new highs.
“Even though the trend now appears to be reversing, it remains too timid, and more will be needed to push Bitcoin toward new highs,” he wrote.
Stablecoin Market Cap. Source: X/DarkfostLarge holders are adding capital, though cautiously. Wallets sending over $1 million in stablecoins to Binance lifted their 30-day inflows to $30.5 billion. A little over a month earlier, the figure stood at $21.7 billion.
That marks a rise of over 40%. However, the same group sent more than $61 billion at its October 2025 peak, nearly double the current level.
“This behavior is probably torn between Bitcoin’s seasonality, with a highly anticipated October, and an environment marked by conflict, inflation, and the relentless rise in bond yields,” the analyst added.
ETF Buyers Have Stepped BackInstitutional demand has cooled as well. Spot Bitcoin ETFs drew $998.95 million on September 21, their largest daily inflow in almost a year.
Inflows then shrank for 5 straight sessions, slipping to $31.07 million by September 28. On September 30, the funds posted $148.69 million in net outflows, ending a 9-day inflow streak, BeInCrypto reported.
Flows returned to positive territory on October 1, with $102.67 million in net inflows, SoSoValue data shows. However, the funds took in only $51.25 million across the 4 sessions from September 28 to October 1. In the prior week, they drew $2.39 billion.
Trading activity has thinned too. Daily value traded across the 12 funds fell from $4.57 billion on September 21 to $1.97 billion on October 1.
Iran War Headlines Whip Bitcoin Both WaysThe conflict Darkfost flagged has already moved Bitcoin’s price. On October 2, BTC rallied toward $87,000 before a tanker strike in the Strait of Hormuz erased the gain.
Bitcoin Price Performance. Source: BeInCrypto MarketsOil prices barely moved on the news, while crypto markets reacted sharply. That strike marked the sixth tanker attack in a week. Meanwhile, Washington has sent 2 more Patriot missile batteries to protect Saudi and Qatari energy sites, Axios reported. The US is also sending more warships and troops ahead of a possible return to war.
Meanwhile, Iran said the strait stays closed until the US meets 7 conditions from a June deal. Because Bitcoin trades around the clock, it absorbs weekend war news before stocks and oil reopen.
The pressure could build later in the month. US officials told The Wall Street Journal that Trump expects to resume bombing Iran after the November 3 midterms.
Peace signals have moved Bitcoin the other way. It climbed past $81,000 when Trump weighed ending the war. With Hormuz still shut, each new strike or ceasefire signal could swing BTC in either direction.
Mt. Gox Faces Its October 31 DeadlineThe final pressure lands at month-end. Mt. Gox’s labeled wallets held 34,387.51 BTC, worth $2.88 billion, as of the latest data from Arkham.
Mt. Gox Bitcoin Holdings, Source: ArkhamUnder the current court-approved deadline, the trustee must finish creditor repayments by October 31. Last year, it announced the extension on October 27, 2025, just 4 days before the cutoff.
That pattern leaves 2 outcomes. Another extension would keep the coins off the market, while distributions could hand creditors BTC they may sell.
Seasonality has also slipped before. Bitcoin fell 3.69% in October 2025, its first losing October since 2018. ETF flows and stablecoin supply will show whether fresh capital arrives before the Mt. Gox decision.
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Canary podal upravený návrh na spotový ETF na PEPE, který by držel PEPE přímo a obchodoval se na Cboe BZX. SEC zatím produkt neschválila a ticker ani datum spuštění nejsou známy.
Canary’s amended S-1 provides new operational details for its proposed spot PEPE ETF. The trust would hold PEPE directly, with BitGo providing custody and Cboe BZX as the proposed exchange. PEPE’s 10 largest wallets held about 41% of circulating supply in January, although several are exchange addresses. The filing advances the product but leaves its ticker, launch timing and eventual investor demand unresolved. Canary Capital is moving ahead with one of the more unusual experiments in the U.S. crypto ETF market: putting PEPE inside a conventional exchange-traded fund.
The asset manager filed Pre-Effective Amendment No. 1 to the Canary PEPE ETF registration statement on Oct. 2, adding operational details to its original April filing. The proposed trust would hold PEPE directly and seek to reflect the token’s market price after expenses.
PEPE was trading near $0.000004272 on Oct. 4, down about 2.33% over seven days. The filing therefore comes without the immediate price surge that often accompanies speculative crypto announcements, putting more attention on the product itself and whether brokerage access can create a new source of demand.
Bloomberg ETF analyst Eric Balchunas viewed the amendment as another indication that issuers are becoming more comfortable testing the boundaries of the crypto ETF market.
Canary just amended their Pepe ETF filing… arguably another sign crypto winter has ended. You just weren’t going to even think about launching a Pepe ETF a few months ago. Feels safer to test market now. https://t.co/7UBxit0m2y
— Eric Balchunas (@EricBalchunas) October 2, 2026
His observation points to how far product development has moved: a memecoin ETF that might previously have looked commercially implausible is receiving enough attention for Canary to continue building out the registration.
Canary Defines the Infrastructure Behind a PEPE ETF The amended prospectus provides a clearer picture of how PEPE would fit inside a traditional fund structure.
Canary intends to hold PEPE directly, rather than use futures or other derivatives to replicate its performance.
Shares are proposed for listing on Cboe BZX, while the fund would calculate its net asset value using the CoinDesk PEPE Benchmark Rate 60m NY Rate, a time-weighted benchmark derived from eligible PEPE trading venues.
The institutional infrastructure is also taking shape. BitGo Bank & Trust is named as crypto custodian, U.S. Bank would custody cash, U.S. Bancorp Fund Services would act as transfer agent and CSC Delaware Trust Company would serve as trustee.
Creation and redemption would occur in 10,000-share baskets, with the prospectus allowing authorized participants to transact using cash or PEPE.
One provision is specific to PEPE’s blockchain infrastructure. Because the token operates on Ethereum, the trust may initially hold up to 5% of its assets in ETH to cover network transaction fees. The ETH would be used operationally rather than as a separate investment position. After that reserve is depleted, the sponsor would pay network fees and seek reimbursement from the trust.
It is a small part of the product, but one that exposes the mechanics involved in placing an ERC-20 token inside an ETF. Investors may interact with ordinary brokerage infrastructure, while movement of the underlying PEPE still requires Ethereum transactions.
PEPE’s Largest Wallets Hold 41% of Supply The filing also provides information that matters beyond the ETF structure itself.
According to Canary, the 10 largest PEPE wallet addresses controlled approximately 41% of circulating supply as of January 2026. That figure initially suggests heavy concentration, but it needs qualification because several of the largest addresses belong to centralized exchanges holding assets for customers.
An exchange omnibus wallet can represent thousands of beneficial owners, making it different from a single whale controlling the same amount of PEPE.
Concentration nevertheless remains relevant. Large movements from major wallets can affect available liquidity, particularly when tokens are transferred onto exchanges.
PEPE also differs from many venture-backed crypto assets because it does not have a conventional vesting schedule creating predictable waves of future token unlocks. Substantially all of its supply is already circulating, shifting attention from future issuance toward ownership distribution and existing holder behavior.
Canary’s prospectus is similarly direct about the token’s underlying demand. PEPE has limited transactional utility, while its market value is closely connected with the Pepe the Frog meme, community engagement and online sentiment.
The ETF can change how investors obtain exposure to those characteristics. It cannot remove them.
The Wrapper Does Not Change PEPE’s Risk Profile That distinction is important when comparing the proposal with established crypto ETFs.
Bitcoin has increasingly entered portfolios through regulated funds, corporate treasury holdings and macro investment strategies. PEPE remains much more dependent on speculative demand, trading liquidity and cultural relevance.
Canary is not proposing an active strategy to offset those risks.
The trust would not sell because PEPE appears expensive, accumulate because the token looks undervalued or hedge its exposure during a downturn. Investors would effectively receive PEPE’s market performance after the fund’s expenses and liabilities.
The prospectus accordingly warns that shareholders could lose all or substantially all of their investment.
For some investors, an ETF could still solve a practical problem. Exposure would become available through a conventional securities account without independently maintaining an Ethereum wallet, safeguarding private keys or trading directly on a crypto exchange.
That is an access improvement, not a change in the economics of the underlying asset.
The SEC Has Not Approved the PEPE ETF The Oct. 2 amendment also needs to be separated from an approval decision.
Canary filed a pre-effective amendment, meaning the registration statement remains part of an ongoing process. The prospectus states that the securities cannot be sold until the registration becomes effective.
Several pieces of the proposed fund are now defined, including custody, pricing and creation-redemption mechanics. Others remain unresolved. Most visibly, the ticker field is still blank, and the filing does not establish a confirmed launch date.
That makes the amendment relevant without turning it into an approval signal.
Canary is spending resources to advance the product and has assembled much of the infrastructure necessary to operate it. Whether the fund ultimately reaches investors depends on what happens next in the registration and listing process.
PEPE ETF Faces a Different Test Than Bitcoin Regulatory progress would still leave Canary with a commercial question.
Bitcoin demonstrated that substantial demand existed for crypto exposure through U.S.-listed ETFs. That result does not mean the same demand exists for every digital asset with a large trading community.
Memecoins are particularly difficult to assess.
PEPE can generate significant spot-market activity while remaining readily available to crypto-native traders through existing exchanges. An ETF therefore has to attract investors who want exposure to the token but prefer, or require, a traditional brokerage structure.
That is a narrower proposition than simply proving that PEPE has an active market.
The current price adds useful context. At roughly $0.00000427, PEPE remains a highly sentiment-sensitive asset, and wrapping it inside an ETF would not create cash flows, alter its token supply or reduce its dependence on market demand.
Canary has now provided much of the plumbing needed to test whether that distinction matters to investors. The next meaningful milestones are more concrete: an effective registration, final ticker and fee, a trading date and, if the fund launches, its initial creations and assets under management.
Those numbers would show whether the expansion of crypto ETFs into memecoins is producing a new investment market or simply a broader menu of products.
Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.
Likvidita Ondo se rozšiřuje napříč řetězci a Ethereum nyní tvoří jen 52,37 % z celkové hodnoty 2,1 miliardy USD. Na Solaně tokenizovaná aktiva za posledních 30 dní vzrostla o 60,32 % na více než 456,7 milionu USD.
Ondo’s tokenized asset growth is shifting from a single-network model toward a broader distribution of liquidity.
Although Ethereum [ETH] remains at the core of the platform with a value of $2.1 billion, this represents only 52.37% of the total and therefore implies that concentration is easing.
The most notable example is Solana [SOL]. Tokenized assets have now surpassed $456.7 million on Solana, an increase of 60.32%, or approximately $147 million, over the past 30 days. Meanwhile, BNB Chain has increased to $429.7 million, representing an increase of 19.15%.
Source: RWA.xyz This increase in tokenized assets increases the number of ways that Ondo can distribute its tokenized product offerings to other users. Also, there are currently 521,028 token holders transferring $2.38 billion per month.
Source: RWA.xyz This indicates that these assets are being transferred into circulation as opposed to simply being created.
As adoption grows, the current $3.89 billion asset base of Ondo will be distributed among many networks and no longer rely solely on Ethereum.
Solana leads tokenized-equity lending Tokenized equities are moving beyond simple ownership as users begin putting them to work in on-chain credit markets. Solana is at the forefront of this evolution, as over $20.7 million worth of tokenized stock is being utilized as collateral via Kamino.
As such, it appears many of these users are seeking to utilize liquidity locked up by their equity holdings but avoid liquidating their equity exposure. On the other hand, Ethereum has $5.8 million in tokenized stocks serving as lending collateral through Euler and Morpho.
Meanwhile, Robin Hood Chain has produced just under $2 million in additional supply also via Morpho.
Source: X The large disparity illustrates that lending is still in its infancy and unevenly distributed among various networks. However, the fact that this functionality exists represents a significant expansion of tokenization.
Additionally, if adoption of lending grows, then tokenized equities will likely be given greater utility, which will drive even greater demand for on-chain collateral.
Tokenized stocks test credit demand Tokenized equities now face a test of whether lending protocols can manage their risks without limiting adoption. On Aave [AAVE] V4’s Equities Hub, collateral factors range from 65% to 79%, forcing borrowers to maintain buffers before liquidation.
Source: Aave Governance However, these constraints create a measurable path for growth. Rising collateral deposits and USD Coin [USDC] borrowing would show stronger credit demand.
Meanwhile, limited liquidations would indicate that risk controls remain effective as activity expands across tokenized stocks.
Final Summary Ondo has expanded its $3.89 billion tokenized asset base across multiple networks. Tokenized equities are gaining credit utility as Solana leads on-chain collateral activity.
Hyperliquid spouští zpětné odkupy HYPE z výnosů Circle; první AQAv2 Reserve Payment už dorazil, ale do Assistance Fund zatím šly jen 2 USDC z 14,58 milionu. Andrew Tate mezitím převedl 20 950 HYPE za asi 1,87 milionu USD na Binance.
Hyperliquid is transforming Circle’s reserve yield into a direct source of HYPE buyback demand. This transformation will change the way the protocol’s revenue returns to its token holders.
In essence, this agreement directs all of the AQA yield generated by an existing $6.07 billion treasury to be returned directly to Hyperliquid.
Using a 3% interest assumption, this results in approximately $498,580 in daily purchase power. Assuming each Hype token costs $88, at the above rate the flows can burn approximately 5,684 tokens per day or increase the burn by 25% relative to its current average.
Source: X Furthermore, because the mechanism has been designed to scale directly with the size of Circle’s reserves, it allows the purchase power for burns to increase as more assets are deposited.
Therefore, Hyperliquid has created a new source of recurring demand for HYPE. In doing so, it strengthens HYPE’s overall tokenomics, creating greater opportunity for burning HYPE.
AQAv2 yield begins HYPE buybacks That proposed buyback mechanism is transitioning from conceptual to implementation. Hyperliquid’s System Interest Address has confirmed receipt of the first AQAv2 Reserve Payment, thus proving actual revenue flowing into the system.
Of the $14.58 million in USD Coin [USDC] generated from this source, only $2 has currently entered the Assistance Fund. However, there is still $14,580,777.21 in USDC awaiting to be transferred from the reserve account to the assistance fund.
Source: Hyperliquid Ecosystem The significance of this distinction lies within the fact that the reserve yields have been successfully recorded. Therefore, once these funds enter the Assistance Fund, they may then be converted by Hyperliquid into buyback activities.
Hence, the pending transfer is what needs to occur in order for the reserve income to become realized HYPE deflation.
Tate moves HYPE to Binance Meanwhile, Tate’s latest move has shifted focus off of Hyperliqd’s buybacks towards possible sources of HYPE liquidity. He transferred 20,950 HYPE, worth approximately $1.87 million, to Binance.
Despite that move, this action in itself doesn’t confirm that the HYPE was sold. Therefore, the remaining 63,550 HYPE will likely gain even greater importance. This remaining balance is approximately $5.62 million and is still out of exchange.
Thus, there are many options left open with regard to future deposit possibilities should selling become an attractive option.
Source: Lookonchain According to Lookonchain data, Tate realized over $7.24 million in profit with the sale of HYPE. This is indicative of the size of profits that exist at this time for people who have purchased HYPE at levels below $4.48.
Thus, future exchange transactions may counteract some of the demand created by Hyperliquid’s stated intention to repurchase HYPE. In turn, this would increase sell-side pressure, making wallet movements increasingly important for HYPE’s price going forward.
MMF schválil okamžité uvolnění zhruba 138 milionů USD pro Salvador v rámci programu v hodnotě 1,4 miliardy USD, i přes nesplnění některých kritérií včetně akumulace bitcoinů. Fond udělil výjimky po nápravných krocích a nových závazcích.
The International Monetary Fund approved the immediate disbursement of about $138 million to El Salvador under the country’s $1.4 billion financing program, despite some performance criteria being missed.
The IMF’s Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility (EFF) arrangement on Thursday, it said in a press release.
While certain performance criteria were not met, including on the Bitcoin accumulation front, the IMF granted waivers “based on strong corrective measures and renewed commitments.”
The agency noted that El Salvador has made progress in financial sector reforms, fiscal transparency, AML/CFT reforms and the transfer of majority ownership and control of the government Chivo Bitcoin wallet to a private operator.
“Efforts will continue to reduce the state’s involvement in Bitcoin-related activities, strengthen crypto‑asset regulation and governance, and enhance transparency regarding public-sector crypto‑asset holdings,” the IMF said, adding: “No further Bitcoin accumulation is envisaged beyond the documented donations.”
Cointelegraph reported on Sept. 4 that El Salvador used no public resources to accumulate Bitcoin after the first review of its IMF financing program in June 2025, according to the lender.
The IMF said documents supplied by Salvadoran authorities verified that the accumulation came from private donations. According to the lender, the increase in El Salvador’s holdings therefore did not reflect additional Bitcoin purchases financed with government resources.
The IMF also said majority ownership and operational control of the Chivo wallet had been transferred to a private operator, while the government retained a minority stake and custodial responsibilities.
The explanation addressed how El Salvador’s holdings grew after the first review, when the country said in November 2025 that it had acquired 1,090 BTC worth $100 million, renewing questions about compliance with its $1.4 billion IMF program.
Magazine: Exchanges reporting crypto gains to IRS becomes tax nightmare
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Ripple na konferenci v Soulu oznámil přípravu nového úvěrového protokolu na XRP Ledgeru, který má institucím umožnit používat XRP jako zástavu pro financování plateb zákazníků. Cílí hlavně na vydavatele kreditních karet.
Ripple is advancing its payment infrastructure by preparing to launch a new lending protocol on the XRP Ledger that could reshape how financial institutions fund customer payments. At the XRP Seoul conference in South Korea, Ripple President Monica Long introduced a mechanism designed to place XRP at the center of the collateral process for large-scale payment providers, particularly those issuing credit cards.
Ripple’s institutional ambitions at XRP SeoulLong explained that Ripple is actively developing and integrating a lending protocol within the XRP Ledger. This protocol, once activated, will enable pools of XRP to be lent out as collateral to support the payment flows of Ripple’s enterprise customers. She drew a direct connection to credit card institutions, outlining a vision where “payments credit meets XRP Ledger and the lending protocol” to facilitate new forms of funding within payment networks.
According to Long, the necessary infrastructure for this system already exists on the XRP Ledger, with efforts now focused on bringing the lending protocol to operational status. Long emphasized that this project is not merely theoretical—integration and development efforts are already in progress.
Ripple President Monica Long stated that the lending protocol is designed to allow credit card institutions and other businesses to use XRP as collateral when funding customer payments.
Amelie, a well-known crypto influencer in the XRP community, highlighted Long’s remarks to her audience, underlining the opportunity for real-world adoption and strategic growth for XRP.
Mini dictionary: XRP Ledger, the decentralized blockchain powered by XRP and developed by Ripple, supports fast and low-cost currency exchanges and payments for banks and financial institutions.
Impact on XRP demand and community responseAmelie described this initiative as a direct catalyst for XRP’s price and adoption prospects. Establishing XRP as the required collateral for institutional payment flows would drive demand, since organizations would need to acquire and hold substantial XRP balances to participate. This shift could produce continuous, structural buying pressure, distinguishing it from short-term trading or speculative movements.
Institutions integrating this system—such as credit card issuers—would be expected to maintain specific XRP reserves proportionate to their payment volumes. As transactional activity rises, so does the collateral requirement, transitioning XRP further toward a role as a utility asset within institutional finance.
XRP RoleBefore Lending ProtocolAfter Lending ProtocolMain usageBridge currency for cross-border paymentsCollateral for credit and lending in paymentsInstitutional holdingOptional, transactionalRequired, structuralSource of demandSpeculative/adoption-drivenCollateral-backed, utility-drivenReactions within the XRP community showcased a range of emotions. Some users expressed confidence that the system would reach active production and encouraged patience, citing the complexity and long-term potential of the infrastructure being developed. Others voiced frustration about the lack of immediate impact on XRP’s price, emphasizing their expectation for tangible results and market reactions.
Some XRP holders maintain optimism about the protocol’s progress, highlighting the scale and ambition of Ripple’s ongoing development, while others await visible effects on price performance.
Institutional adoption and next stepsThe Seoul conference underscored Ripple’s strategy to expand XRP’s function to a collateral asset used within financial products, shifting its role beyond merely enabling cross-border payments. This integration of lending capabilities with institutional payment networks could position XRP as core infrastructure within enterprise-grade payment solutions.
For investors monitoring XRP’s real-world usage, Long’s statements provided clear confirmation that development is not only ongoing but also approaching a major milestone. Activating the lending protocol on the XRP Ledger will be the critical turning point where these plans transition into real-world implementation.
Ripple přidal do XRPL důvěrné převody pro instituce. Confidential Transfers skrývají zůstatky a částky převodů, zatímco validátoři stále ověřují platnost transakcí.
Ripple, a leading blockchain company focused on enterprise crypto solutions, has introduced selective confidentiality directly into the XRP Ledger (XRPL) protocol. This development aims to address privacy concerns for institutional users without relying on a separate or private version of XRPL. Instead, Ripple is embedding confidentiality at the core protocol level to combine public transaction settlement with private financial information.
Selective confidentiality on the public ledgerThe official documentation for XRPL’s Confidential Transfers outlines the use of EC-ElGamal encryption and zero-knowledge proofs as foundational technologies. These cryptographic methods help conceal Multi-Purpose Token balances and transfer amounts from being visible on the public blockchain, while still allowing verifiers to confirm transaction validity.
With this structure, validators can approve that transactions meet system requirements without accessing the underlying transaction amounts. At the same time, issuers have the capability to designate specific auditors who can decrypt balances for compliance and regulatory checks, ensuring responsible oversight in financial operations.
This balance provides banks and regulated institutions with a model that preserves the transparency benefits of blockchain—such as public settlement—while maintaining privacy over sensitive financial details.
Mini dictionary: EC-ElGamal encryption is a public-key cryptosystem considered secure for both confidentiality and supporting zero-knowledge proofs; zero-knowledge proofs allow validators to confirm the validity of a statement without revealing any other information.
Institutional features and regulatory complianceThe XRPL 3.3.0 protocol upgrade introduced ConfidentialTransfer for amendment voting, alongside other new features aimed at institutional requirements such as Batch processing and Permission Delegation. These updates reinforce XRPL’s strategic push toward serving regulated entities and facilitating compliance in decentralized finance frameworks.
Developers are also testing permissioned liquidity pools that limit Automated Market Maker (AMM) participation to credentialed users. When paired with features such as Credentials, Permissioned Domains, and confidential token transfers, the system is increasingly positioned as regulated financial infrastructure—distinct from anonymous open DeFi models but still built on a public blockchain foundation.
Potential use cases for confidential transfersRipple has highlighted confidential collateral as a key use case for institutions. In this model, a financial entity can provide proof that sufficient collateral exists to meet regulatory requirements without revealing the actual size of the client’s position, trading counterparties, or specific strategies.
Ripple’s institutional DeFi roadmap references applications including proof of reserves, private settlements, and compliance verification, all of which may benefit from integrating zero-knowledge technology into public blockchain systems.
This approach underscores Ripple’s emphasis on compliance with privacy, aligning with growing demand from banks and regulated firms seeking both transparency and confidentiality in their blockchain transactions.
Ethereum Foundation a Open Anonymity Project spustily na mainnetu Ethereum zkAPI, které umožňuje platby za API bez odhalení identity plátce. První využití míří na AI inference.
The Ethereum Foundation and the Open Anonymity Project launched zkAPI on Ethereum mainnet on October 1, 2026, a system that lets users pay for metered APIs without revealing who is paying, according to a post on the Ethereum Foundation blog. The first target is AI inference, where prompts are sensitive and the billing trail currently ties every request to an identity.
Separating Payment From Identity Users deposit credits such as ETH or USDC into a vault contract on Ethereum in a single transaction. From that point the balance exists as a private note that only the holder can spend. Software on the user’s machine produces a zero-knowledge proof showing that a funded note covers the spend and has not been spent before. Every spend publishes a nullifier, a one-way serial number that exposes double-spending attempts without revealing which note backed the payment.
AI Inference Is the First Use Case zkAPI ships a local client that exposes the standard OpenAI and Ollama APIs, so existing apps and chat clients keep working by pointing at localhost. A server checks a payment proof, mints a short-lived API key held only in the device’s memory, and charges the private balance when the key expires. The foundation describes a split where the payment server sees that a valid payment exists but not who made it, while the AI provider sees prompts but not the payer. The same client can front RPC queries, image generation, VPNs, and machine-to-machine services, making it relevant beyond AI agents in crypto.
A Design Co-Authored by Vitalik Buterin The launch is the working implementation of ZK API usage credits, a design published on Ethereum Research by Davide Crapis and Vitalik Buterin. It proves spends with Groth16 proofs on the BN254 curve, hashes commitments and nullifiers with Poseidon, and keeps notes in a 32-level Merkle tree. The live vault contract on mainnet holds USDC credits, and withdrawals stay available onchain even if the zkAPI server disappears.
Limits and Next Steps The foundation notes two limits: zkAPI does not provide network anonymity, so users seeking stronger privacy should route through Tor, and shared prompt contents can still act as fingerprints. The project is under active development, with confidential GPU computing still emerging for content privacy. The launch extends Ethereum into private AI infrastructure, where billing records currently link every query to a payer.
AUTHOR
A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities
