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PENGU Dumps 20% in 2 Weeks, But Analyst Predicts a Massive Rebound

Nearly eight in 10 Pump.fun tokens have stopped trading after their first day, according to a study, while traders have complained about too many new coins and too few reasons to hold them.

Summary

Bitquery found 79% of Pump.fun tokens traded only on launch day.
Just 17.2% of September launches recorded a trade at least 24 hours later, Jumpbit reported.
MemeFees counted at least 21,765 launches across eight platforms on Oct. 19.
Traders complained about instant selling and fewer reasons to hold new tokens.

Bitquery, the blockchain data provider behind the finding, tracked new Solana tokens from Nov. 1, 2025, through Oct. 7, 2026. Its survival table recorded 8,984,141 Pump.fun tokens, with just 1.5% registering any trade during their fifth week and 0.2% recording at least 10 trades in that window.

Traders describing the market often complain about short holding periods, rapid selling, and a loss of the community appeal that once drew them to new coins.

Memecoin survival has remained low across launchpads
Beyond Pump.fun, Bitquery recorded launch-day-only trading for 51% of Meteora Dynamic Bonding Curve tokens and 84% of Raydium LaunchLab tokens. Only 1.9% of Meteora tokens and 1.3% of Raydium tokens were still trading in their fifth week. The study counts successful swaps, including automated trades, and discloses missing blocks and gaps involving newer trade formats.

A separate September report from Jumpbit examined 1,083,771 Pump.fun launches using dydt’s Solana trade index, following activity through Oct. 12. The research counted roughly 36,100 launches per day, with 95.1% recording at least one trade.

Jumpbit found that 17.2% had a last recorded trade at least 24 hours after launch, while 7.5% had one at least seven days later. Only 0.5% of the September launches traded during the final 24 hours of its observation period.

Under Jumpbit’s definition, a token qualifies as still trading if its last recorded transaction has occurred beyond the specified age. A creator’s first purchase counts, and continued activity can occur even when a token’s price is close to zero, per its methodology.

Daily launch counts have gaps in coverage
MemeFees recorded at least 21,765 launches across eight tracked platforms on Oct. 19. Flap.sh accounted for 10,570, followed by at least 9,284 on Pump.fun and 1,707 on Pons.

Its seven-day daily averages stood at 17,726 for Pump.fun, 11,325 for Flap.sh and 1,578 for Pons. Its Pump.fun observations also carry a plus sign because incomplete collection windows make those figures lower bounds.

Using factory-contract events, MemeFees labels its Flap.sh and Pons counts as exact for the contracts covered.

A Sep. 5 account of Pons’s launchpad activity described more than 10,000 daily deployments and $4 billion in cumulative platform volume. The historical report put the creator share at near 70% of its 1% trading fee, with creators receiving over $25 million cumulatively at that point.

DEXTools published a smaller June 29 report covering 215 fresh Pump.fun pools. Its researchers classified 24% as showing a bot-like burst, defined as at least 20 trades within 15 minutes.

The sample measured the proportion of tokens crossing an activity threshold, without calculating what share of dollar trading volume came from bots. DEXTools recorded a median of three trades per token, while 30% had no recorded trades.

Trader complaints have centered on holding incentives
One trader, identified as Mystral on X, described an environment where developers expect immediate volume and buyers expect immediate returns.

“we don’t have a shortage of coins, we have a shortage of reasons to hold them,” the trader wrote.

In a separate X post, Mystral said memecoins were losing “the feeling that a random community could turn something completely stupid into a billion dollar phenomenon.”

Bishaqs, another trader, described launchpad trading as a market for attention in which early buyers sell to later arrivals.

memecoins are a casino where the chips are your early twenties. that's the whole product and it works exactly as designed there's nothing underneath them, so stop waiting for billions. on pumpfun roughly 1 in 70 coins even makes it off the bonding curve, attention lasts about as…

— Bishaqs (@Bishaqs) October 20, 2026

As previously reported by crypto.news on Oct. 18, CoinGecko placed the memecoin category near $29.9 billion, including approximately $12.4 billion for Dogecoin and $1.6 billion for Pepe.

Early trading activity has varied between tokens
An Oct. 6 account of new memecoin launches recorded different opening trajectories for Meme Agency and PunchCard, both on Solana.

Meme Agency launched through Pump.fun on Oct. 4 and graduated that day. DexBrief figures cited in the account showed 5,390 holders, 8,070 active traders, and nearly 14,000 transactions within roughly a day, with trading volume near $965,400.

PunchCard began trading on Oct. 1. Solflare data cited in the same account put its price as high as $0.00019527 early on Oct. 2, before it traded near $0.000045 on Oct. 6, when its market capitalization stood around $43,900.

Jumpbit’s September study classified 116,714 launches, or 10.8%, as graduated because they had a PumpSwap pool.

Fidelity Digital Assets says perpetual preferred stock has financed purchases of 135,979 Bitcoin, making the funding model used by treasury companies another source of demand for the cryptocurrency.

Summary

Preferred-stock issuance financed 135,979 BTC in purchases through Oct. 5, Fidelity said. The funding model depends on Bitcoin’s gains exceeding the cost of dividend payments. Preferred shareholders face issuer, liquidity and interest-rate risks alongside Bitcoin exposure. An Oct. 20 report by research analyst Zack Wainwright said the purchases represented more than 0.5% of Bitcoin’s maximum supply as of Oct. 5. The report names Strategy and draws on filings from Strive.

Companies issue dividend-paying preferred shares and use the proceeds to buy Bitcoin. Fidelity links the approach to an investment thesis that Bitcoin’s limited supply could help preserve purchasing power as fiat currencies lose value.

The report also makes the model’s central assumption explicit.

“For issuers, the strategy only works if the appreciation of the underlying asset outpaces the cost of yield.”

Preferred issuance financed more than 95,000 BTC in purchases between March and May, raising over $7 billion. Fidelity compared that demand with the 888,185 BTC accumulated by spot Bitcoin exchange-traded products in their first year.

Preferred shareholders face a different set of risks from investors holding Bitcoin directly. Fidelity’s separate investor guidance explains that preferred securities combine characteristics of stocks and debt, with terms that vary by offering.

Perpetual securities have no scheduled maturity, while some preferred offerings allow issuers to suspend or defer payments. Holders generally rank ahead of common shareholders but below bondholders if the company fails.

Fidelity’s guidance also identifies inflation risk for preferred shareholders because rising prices can reduce the purchasing power of future dividend payments. Higher market interest rates typically push existing preferred-security prices lower, and limited trading liquidity can force investors to sell below face value.

The Bitcoin report consequently ties the preferred-stock model’s success to both the cryptocurrency’s long-term performance and the financial condition of the companies issuing the shares.

Wall Street has found a new way to buy Bitcoin, and it looks a lot like something your grandparents owned. According to a report from Fidelity Digital Assets, perpetual preferred stocks issued by Bitcoin treasury companies have financed the purchase of 135,979 BTC in just over a year.

That figure, measured as of October 5, 2026, represents more than 0.5% of Bitcoin’s total supply.

The report, published October 20, 2026, frames these instruments as a real source of demand for Bitcoin. It also positions them as a bridge to the much larger world of fixed-income investors.

The numbers behind the preferred stock push
Think of a perpetual preferred stock as a bond that never matures. Investors hand over cash, the company pays them a steady dividend, and there is no date when the principal comes back.

For Bitcoin treasury companies, that structure is useful. They raise money from income-focused investors and use it to buy more Bitcoin, without issuing new common shares or taking on traditional debt.

The pace picked up sharply in 2026. Between March and May, issuers raised more than $7 billion through these offerings, according to Fidelity.

That capital went toward more than 95,000 BTC during those three months alone.

April was the peak. Fidelity’s data shows nearly 30,000 BTC were purchased in one week that month.

How it stacks up against spot ETPs
Fidelity was careful not to oversell the comparison with spot Bitcoin exchange-traded products. Those funds launched in January 2024 and gathered 888,185 BTC in their first year.

Fidelity’s argument is about who these products reach, not raw volume. The firm sees perpetual preferred equity as a way to tap the broader fixed-income market, which it estimates at around $150 trillion.

Fidelity also asserts that these vehicles can offer yields that surpass many traditional cash equivalents.

Where this trend came from
The model traces back to Strategy, which launched its first perpetual preferred stock product in July 2025. That issuance opened the door for others, including Strive, which Fidelity names alongside Strategy as a pioneer of the structure.

Fidelity has been building this thesis for a while. In commentary from September 2026, the firm highlighted the potential of preferred equity as a form of Bitcoin-backed digital credit, pointing to its appeal for fixed-income investors.

What this means for Bitcoin demand
Money raised through perpetual preferreds goes directly into Bitcoin purchases, so every successful offering translates into buying pressure on the open market.

Still, the model carries risks worth watching. Perpetual preferred stocks come with ongoing dividend obligations, and those payments do not stop just because Bitcoin’s price falls.

Issuers are effectively promising fixed income backed by a volatile asset. If Bitcoin enters a prolonged downturn, the market will test whether that promise holds up and whether investors keep lining up for new issuances.

For investors, the key metrics to track are the volume of new preferred issuance and how much of it converts into Bitcoin purchases. The yields these products offer relative to cash equivalents will also signal whether fixed-income buyers stay interested.

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

Arkansas wanted to keep certain foreign-controlled companies out of its Bitcoin mining industry. For now, the federal courts are keeping that plan on the shelf.

The state’s restrictions on foreign ownership of digital asset mining operations remain blocked. The US Court of Appeals for the Eighth Circuit is deciding whether that block should stay in place.

What the Arkansas law does
The fight centers on two state laws: Act 636 from 2023 and Act 174 from 2024. Together, they bar businesses controlled by foreign parties tied to countries on the US International Traffic in Arms Regulations list from holding interests in local digital asset mining enterprises.

Act 174 took effect in May 2024. It specifically prohibits foreign-party-controlled businesses from acquiring interests in digital asset mining operations.

The challenge came from Jones Eagle LLC, a company run by Qimin “Jimmy” Chen. Chen is a naturalized US citizen who was born in China. His company argues the Arkansas laws are preempted by federal law covering foreign affairs and foreign investment.

How the case got here
Jones Eagle won the early rounds. Federal District Judge Kristine G. Baker issued a temporary restraining order in November 2024. She followed it with a preliminary injunction in December 2024.

The court found the plaintiffs were likely to succeed on their claims against the restrictions. It also pointed to the risk of irreparable harm tied to investigations targeting foreign-owned entities.

The injunction was later expanded in April 2025. Arkansas officials then took the matter up to the Eighth Circuit, asking the appeals court to vacate the lower court’s order.

The Eighth Circuit heard arguments on January 14-15, 2026, and again on October 20, 2026. Following that second session, the court has been weighing the state’s request. It has not issued a final determination on the injunction.

Arkansas argues the laws are about land use, a classic area of state authority, and that the laws align with federal national security policy rather than contradicting it.

A broader fight over mining in Arkansas
Foreign ownership is not the only front. Jones Eagle has also been caught up in disputes over local noise rules. Shortly after a federal injunction was secured against local noise ordinances, Jones Eagle faced a $280,000 penalty order.

What this means for miners and states
The most direct stakes fall on mining companies with foreign ties. If the Eighth Circuit leaves the injunction in place, operators like Jones Eagle can keep running while the underlying case proceeds.

If the appeals court sides with Arkansas, the state could begin enforcing its restrictions. Other states considering similar measures would have a roadmap, and potentially a precedent, to point to.

The legal arguments will likely turn on characterization. Arkansas says it is regulating land. Jones Eagle says the state is conducting foreign policy. Whichever description the Eighth Circuit accepts will probably decide the outcome.

What to watch next is the Eighth Circuit’s decision on the state’s request to vacate the injunction. That ruling will not end the case, since the preliminary injunction is a placeholder rather than a verdict. It will, however, determine whether Arkansas’s restrictions stay frozen while the litigation continues.

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

David Pan****_ _writes about how digital-asset treasury companies are offering even higher yields to attract investors and sustain their crypto-buying strategies._ _

Different paradigm
The Bitcoin treasury trade is proving hard to kill. The latest sign: Companies stockpiling the cryptocurrency are finding ways to keep the money flowing by tapping into investors’ appetite for steady income, even as cracks emerge in the financing model that helped fuel the boom.

The latest pitch rests on preferred shares that offer payouts resembling those of the riskiest junk bonds, while packaged as alternatives to far safer cash investments.

Strive Inc., which has been buying Bitcoin lately at a faster pace than Michael Saylor’s Strategy Inc., closed an offering of $630 million in preferred shares on Tuesday. The amount raised was around 25% higher than the initial size of the deal.

As with most securities, the increased demand appears to be a matter of price. The preferred stock was issued at an annual yield of 15% and offered at a discount, resulting in an effective yield of almost 17%.

That’s more than triple what you earn on a top-rated one-year US Treasury note, and comparable to distressed debt returns. Last week, CoreWeave Inc. shook capital markets when its bond yields surged to 15% — a level that is practically unheard of in the primary market for traditional securities.

“It is a different paradigm,” said Himanshu Sahay, co-founder of Arch Lending.

The success of the Strive transaction underscores the enduring appetite for income, especially among the retail cohort. For companies accumulating Bitcoin, which generates no income of its own, that demand offers a way to keep raising capital despite growing strains on the model.

“Yes, our new product SATS carries a 15% dividend, but the headline yield is the wrong place to start,” said Jeff Walton, Strive’s chief risk officer. “Any credit investor looking at a preferred should ask two questions: what sits ahead of it in the capital structure, and how is the dividend funded?”

Walton noted that Strive has no outstanding debt, and has as an 18-month dividend reserve as well as about $3 billion in Bitcoin on its balance sheet.

Strategy (@Strategy) on X
While Strategy holds around $70 billion of the cryptocurrency, the borrow-to-buy-Bitcoin model that Saylor pioneered has faltered.

Strategy hasn’t sold any of its 12% STRC preferred shares since the price collapsed in June, making it potentially uneconomic to issue more. On Monday, the biggest corporate holder of Bitcoin increased the size of its preferred buyback by 50% to $3 billion, with the goal of meeting its stated objective of making the securities its primary funding source. In the meantime, it continues to sell common stock to buy Bitcoin, diluting existing shareholders.

Strategy did not respond to requests for comment.

The Strive preferred came with another enticement: daily dividends, a feature that could appeal to retail investors seeking a steady stream of income.

Seeking a way to jumpstart demand for STRC, Strategy has asked shareholders to approve a measure at the end of the month that would allow dividend payments on the securities to be made daily.

In a way, the push to offer daily payments on “digital credit” taps into the same demand that spurred a surge in income-generating ETFs over the past few years. Investors have flocked to them for their steady cash flows, while also embracing the convenience of packaged complex trades that are easy to access via one wrapper.

Saylor came under criticism in the past for STRC being marketed as comparable to money market securities, but with junk-bond level returns. Whether switching to daily payments revives that pushback or restarts his stalled infinite-money glitch remains to be seen.

With investors demanding higher compensation across markets, that may come sooner rather than later.

“Investors worry about return of capital, as well as return on capital,” said Helen Thomas, chief executive officer of BlondeMoney. “Liquidity and reliability matter. Innovative products by their nature have a shorter time period to be stress tested. Some vehicles may not survive.”

Charting it out

Raising capital for new investment funds remains difficult. Investors allocated about $3.9 billion to five new crypto-focused venture funds in the second quarter, the fewest new funds raised since the last quarter of 2019, according to Galaxy Research.

Counting it out

That’s how long Brendan Tonks, a 44-year-old plumber in South Sydney, said it took to send money to his family in the Philippines after switching to stablecoins, compared with his previous experience of three days while using Western Union a couple of years ago. He said his first transfer this new way also cost only a small fraction of what he had paid through the traditional service.

Hearing them out
What we’re reading (and writing)

Private Jets, Investor Pressure Push Polymarket CEO to Grow Up
Four-Minute Transfers Upend How Money Moves Around the World
Crypto Vaults Channels Billions of Dollars Into Risky Lending (FT)
JPMorgan Asset Sees Bitcoin Beating Stocks, But With a Catch
Companies Are Balking at ‘Tokenized’ Stocks (WSJ)
Odd Lots Newsletter: Maybe We Were Wrong About Blockchain

What we’re watching on Bloomberg TV
Adam Back, co-founder & CEO Blockstream, joins Scarlet Fu and James Seyffart on “Bloomberg Crypto.” The Liquid Network, a Bitcoin-linked blockchain started by Blockstream in 2018, was hit by a $320 million hack that drained about 4,000 Bitcoin. The hackers, who claimed to be so-called white hats exposing security flaws in the network, later returned some of the Bitcoin.

More from Bloomberg

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In brief
J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over 10 to 15 years, its first long-term forecast for the asset.
That tops its forecasts for U.S. large-cap stocks (7.5%) and gold (5.5%), but comes with 55% annualized volatility.
The firm left Bitcoin out of its main portfolio models, citing volatility and unstable correlations, and called the currency debasement bull case “wide of the mark.”
Bitcoin just earned a spot in one of Wall Street’s most closely watched return forecasts, and it landed at the top of the table.

J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its 2027 Long-Term Capital Market Assumptions, released Monday.

Myriad: How high will Bitcoin go? Click to make your prediction.It’s the 31st annual edition of the report and the first to include Bitcoin. The forecast tops the firm’s projections for U.S. large-cap stocks at 7.5%, gold at 5.5% and a classic 60/40 stock-bond portfolio at 7%.

The catch is volatility. The report pegs Bitcoin’s annualized volatility at 55%, compared with about 17% for gold. That’s why Bitcoin’s arithmetic average return, a simple average of yearly gains, comes in at 20.9%, more than double the compound figure investors would actually keep after big price swings.

The firm stopped short of adding Bitcoin to the models it uses to map how assets move together. “For the first time, we put a range on bitcoin returns, though we do not yet include bitcoin in our main covariance matrices,” the report says. Instead, JPMorgan built a separate, smaller matrix comparing Bitcoin with a subset of assets, citing the cryptocurrency’s volatility and unstable correlations as obstacles to widespread portfolio inclusion.

JPMorgan also pushed back on a popular bull case, calling the idea that currency debasement will spark a rush into crypto “wide of the mark.”

Bitwise Chief Investment Officer Matt Hougan welcomed the forecast, if not every input. “First they ignore you, then they laugh at you, then they fight at you, then they add you to their Long-Term Capital Markets Assumptions paper and predict you’ll be the best-performing asset of the next decade,” he wrote on X.

First they ignore you, then they laugh at you, then they fight at you, then they add you to their Long-Term Capital Markets Assumptions paper and predict you'll be the best-performing asset of the next decade. pic.twitter.com/TuOuH51l3c

— Matt Hougan (@Matt_Hougan) October 20, 2026

Hougan argued that JPMorgan’s 55% volatility assumption is too high, which in turn makes its return forecast too conservative. Bitwise, which manages crypto index funds and ETFs, has a stake in that view.

The forecast comes as JPMorgan deepens its own blockchain bets. The bank is bringing JPM Coin, a token representing dollar deposits, to Ethereum, and has joined BlackRock, Goldman Sachs and the DTCC in tokenized stock efforts.

The timing is notable. U.S. spot Bitcoin ETFs drew $526.7 million on Monday, their best day since Sept. 22, with BlackRock’s IBIT taking in $665.2 million. That trimmed October’s net outflows to about $88 million.

Bitcoin hovered around $82,000, while the 10-year Treasury yield held above 5%, a competing return with far less volatility. JPMorgan’s own global bond forecasts are their highest in two decades.

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Bitcoin [BTC] could outperform several conventional investments over the next 10–15 years, according to J.P. Morgan Asset Management’s forecast.

The firm projected a 10% annual compounded return, exceeding its estimates for U.S. large-cap stocks, gold, and U.S. REITs.

However, that projected advantage came with substantially higher volatility.

Meanwhile, Bitcoin investment funds reportedly maintained holdings above 1 million BTC, keeping a substantial pool of supply within investment products.

For investors, the question was whether Bitcoin’s projected return justified the rougher ride.

How did JPMorgan’s Bitcoin forecast compare? J.P. Morgan Asset Management’s 2027 Long-Term Capital Market Assumptions projected Bitcoin’s annual compounded return at 10%.

Its corresponding forecasts were 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts.

The report also estimated Bitcoin’s arithmetic annual return at 20.9%, alongside annualized volatility of 55%.

These return measures describe different things. The arithmetic figure averages annual returns, while the compounded figure reflects growth across the investment period.

Large price swings can create a substantial gap between those measures. Investors would therefore need to weigh Bitcoin’s projected outperformance against its expected fluctuations.

Source: X Bitwise CIO Matt Hougan also highlighted the projections, drawing attention to Bitcoin’s expected return advantage.

What did Bitcoin fund holdings show? According to the supplied Santiment data, Bitcoin holdings across investment funds reportedly stayed above 1 million BTC for several months. That suggested investment products continued to hold a substantial share of Bitcoin’s supply.

Source: Santiment However, stable holdings alone did not establish fresh inflows or identify how much demand came from institutional investors.

The data showed a sustained fund presence. Whether those holdings would expand remained a separate question.

What could this mean for Bitcoin investors? J.P. Morgan’s projections offered another benchmark for assessing Bitcoin’s long-term investment case.

Alongside sustained fund holdings, the forecast could encourage investors to evaluate Bitcoin as a portfolio asset.

Still, a 10–15-year return assumption offers limited guidance on Bitcoin’s next price move.

The projected 55% annualized volatility implied considerable uncertainty around that long-term path. Severe drawdowns could occur even if the compounded return forecast ultimately proved accurate.

Bitcoin could lead the return comparison while testing investors’ willingness to stay invested through the declines.

Final Summary JPMorgan projected 10% annual compounded Bitcoin returns over 10–15 years, ahead of stocks, gold, and U.S. REITs. Its 55% volatility assumption highlighted the potential fluctuations, while stable fund holdings did not establish fresh institutional buying.

Crypto exchange Gate wants a Bitcoin holder’s next stock purchase to happen without their money leaving its platform. The ambition is to keep more of an investor’s financial life inside one exchange.

Speaking with BeInCrypto at TOKEN2049, Jason Fung, Gate’s head of global partnerships, described how that could change the way people invest.

The business case is becoming clearer. CoinGecko’s latest quarterly report found that spot trading volume at the top ten centralized exchanges fell 14.2% in Q3 2026, despite a recovery in crypto prices. Broader markets give exchanges more opportunities to keep customers trading. 

For investors, the question is whether those extra choices make managing money easier.

Why Move Your Money to Buy a Stock? Fung’s argument starts with where customers already hold their money. Someone with digital assets on an exchange can use that platform to reach overseas stock markets.

“It’s becoming a one-stop shop for anyone who wants to invest,” he said.

Gate introduced Japanese stock trading in August, initially offering around 300 Tokyo-listed stocks. Users can fund trades with USDT, the dollar-linked stablecoin, according to the company. 

Gate says it now offers access to more than 12,800 stocks across the US, Hong Kong, Korea and Japan markets combined. 

That offers a practical reason to stay: an existing crypto balance can fund a stock investment without first being withdrawn to a bank and sent to a separate broker. Availability still depends on the user’s jurisdiction.

🇯🇵 Japanese stocks, now just one click away.

No Japanese brokerage account. No JPY conversion. No extra hoops.

From Sony to Toyota, access leading Japanese stocks directly with $USDT on Gate.

One Gate. Every Trade. Opening up access to Japan’s stock market.

Trade now:… pic.twitter.com/ADjyAbLexT

— Gate (@Gate) August 21, 2026 A More Diverse Portfolio or Just More Trades? “It’s no longer a decision between holding crypto or holding cash,” Fung said.

His example is an investor who follows semiconductors and wants to buy a particular company while keeping Bitcoin for the long term. Access to equities gives that investor somewhere else to put money when their strongest conviction lies outside crypto.

“Diversifying is one part, rotating in and out of narratives you have conviction in is another.”

Those behaviours have different implications. Building a broader portfolio can spread exposure. Chasing each new market theme can increase trading without necessarily reducing risk.

Fung said future data should reveal whether customers diversify more or simply make more trades. He presented both as possibilities, leaving open how far easier access changes the way people manage their money.

How Much Is a Faster Trade Worth? The same push to shorten the distance between an idea and a trade extends to new blockchains.

Gate announced its Robinhood Chain integration in July and Arc support in September. Fung said integrations across its exchange and Web3 services reduce the steps needed to access those ecosystems. 

“You already have funds there, you’re already KYC’d,” he said, referring to identity checks.

For a trader following a new token, fewer setup steps can matter. Fung argues that reacting quickly to information offers an edge.

Speed also brings responsibility back to the trader. Easier access gives them less administrative work; it provides no assurance that the asset deserves their money.

Who Stays When the Rewards Stop? Fung applies a different test when assessing whether an ecosystem will last.

“The ultimate test is: once all the incentives are gone, who actually stays?”

He looks for users who keep returning and projects that continue attracting builders. He expects networks connecting traditional finance with crypto to have lasting demand.

Recent activity complicates that picture. CoinGecko reported that Robinhood Chain generated more than $88.9 billion in trading volume after its July launch through Q3, with memecoin trading overtaking its original tokenized-asset ambitions. 

That does not establish how long the activity will last. It shows how quickly users can take a network in a different direction from its intended purpose.

“It comes down to real usage and how sustainable an ecosystem is in the long run,” Fung said.

Your Next Trade Could Be an Election Prediction markets widen the exchange’s reach further, giving people something to trade when they have little conviction about crypto prices.

“You might not have an opinion on what happens to the Bitcoin price in the next 30 days, but you might have a very strong opinion on who wins a certain election, or who wins Formula One,” Fung said.

The appetite is substantial. Barron’s, citing Aldrin Research, reported at least $5.83 billion in prediction-market trading over the opening Saturday and Sunday of this year’s NFL season. 

Fung calls prediction markets “a tool for pricing uncertainty.” He also acknowledges that conviction can come from emotion, such as supporting a team.

That makes their informational value worth testing. A traded probability reflects the people willing to bet, whose enthusiasm may exceed their knowledge.

“The bigger question is how accurate prediction markets are over thousands, tens of thousands, one day millions of events.”

The Partnership That Gets Your Money Home Asked which partnership would most help ordinary traders, Fung returned to banking access.

“The ability to more seamlessly on-ramp and off-ramp in different currencies across the world – that’s more important than an additional trading feature.”

He wants stronger connections with banking partners and compliant stablecoin providers, particularly in emerging markets where local arrangements vary.

The audience matters. Binance Research reported in June that close to 93% of its stock-trading users came from emerging markets. That company-specific finding suggests demand for new routes into overseas equities.

“Parts of this structure already exist, but it’s far from perfect.”

Gate’s own attempt to close that gap is Gate Money, a single account that combines fiat currencies, crypto and stocks with on-ramp/off-ramp transfers, card spending and yield on idle balances, according to the company.

That leaves exchanges with a practical test as they pursue more of their customers’ portfolios. Every additional market offers another reason to keep money on the platform. Users also need confidence about what happens when they want it back.

An exchange’s usefulness extends to the moment a customer needs to spend their investment proceeds in their own currency.

Mohammad Shahid is the US Managing Editor at BeInCrypto, leading coverage of breaking financial news from Federal Reserve decisions and CPI releases to digital asset regulation and major earnings. He has interviewed prominent figures such as Shark Tank’s Kevin O’Leary and conducted investigative reporting involving senior executives at firms including IBM. An experienced crypto and financial markets journalist, Mohammad is recognised for his expertise in blockchain security and is widely regarded as a thought leader in the space. He began his career writing on security technologies for companies like Trustwave and Radiant Logic before moving into financial journalism, and has spoken on cybersecurity, digital assets, and emerging risks at major global Web3 conferences. Mohammad holds dual master’s degrees in cybersecurity and criminology from Macquarie University. Drawing on this background, he focuses extensively on crypto-related crime and co-developed BeInCrypto’s crypto crime podcast, where he has interviewed leading experts in cybersecurity, financial crime, and sanctions evasion, including Former IRS Criminal Investigation Chief Jim Lee. If you have a story you want to discuss, please reach out here: [email protected].

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Disclaimer

This interview is editorial content produced independently by BeInCrypto. The views, claims, and predictions expressed are solely those of the interviewee and do not represent the positions of BeInCrypto. Guests may discuss projects, companies, or tokens they are affiliated with; any such mentions are for context and are not endorsements. Nothing here is financial, investment, legal, or tax advice. Always do your own research and consult a qualified professional before acting on anything discussed.

55 minutes ago

Bitcoin yield platform HoneyB’s developer Nectar Group has raised $5 million in a seed funding round led by Portal Ventures, with participation from Peer Venture Partners, Anchorage Digital Ventures, an unnamed family office, and angel investors. Nectar Group co-founder and CEO Josh Gordon disclosed that the company launched the financing round at the end of Q4 2025 and closed it in early Q3 2026. Gordon noted the round used a Simple Agreement for Future Equity (SAFE) structure, accompanied by a 1:1 token subscription warrant, and carried a post-money valuation of $30 million. He also stated that none of the investors secured board seats, board observer status, or advisory roles.

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20 October 2026 | 18:44 XRP is trading near $1.33 on Tuesday, up about 2%, after buyers defended the golden pocket floor that also halted its September slide and pushed the price back toward resistance.

Support

The golden pocket (~$1.24-$1.26) sits just under the 100- and 200-day SMAs (~$1.28).

Resistance

The 50-day SMA (~$1.41) and 0.382 Fib (~$1.43) cap the upside.

Momentum

Daily RSI reads about 42, back above its signal line near 40.

October’s pullback lands on the golden pocket XRP’s August breakout carried it from around $0.99 to its spike high, a 71% run in about a week. In mid-September, the first pullback found its floor at the 0.618 Fibonacci level of that rally, near $1.26. XRP wicked briefly below it, then recovered above $1.50 within about a week.

XRP daily price chart. Source: TradingView That level marks the top of what traders call the golden pocket: the band between the 0.618 and 0.65 Fibonacci retracements of a move. It is one of the most closely watched zones on any chart, because deep pullbacks inside a healthy trend often find buyers there. A clean break below it is usually read as a sign the original move has lost its footing. For XRP’s August rally, the golden pocket sits roughly between $1.24 and $1.26.

The October slide stopped in the same area. A wick dipped into the golden pocket last week, but daily closes have held above $1.26.

The difference this time is what surrounds the zone. In September, the 200-day SMA already sat near $1.28, but the 100-day SMA trailed far below, around $1.17. The 100-day has since climbed to meet the 200-day, and both now rest just above the golden pocket. That gives the floor three layers instead of two.

At the floor September pullback October pullback Golden pocket (0.618–0.65 Fib) ~$1.24-$1.26 ~$1.24-$1.26 200-day SMA ~$1.28 ~$1.28 100-day SMA ~$1.17, well below ~$1.28, in the zone The bounce stalls at the 0.5 Fib XRP opened Tuesday near $1.30 and climbed to $1.34, where it tagged the 0.5 Fib before easing to around $1.33. The level held as support through much of September and gave way in mid-October. A daily close back above it would turn the bounce off the floor into a recovery of lost ground.

Heavier resistance waits at $1.41-$1.43 Above $1.34, the 50-day SMA near $1.41 sits just under the 0.382 Fib near $1.43, roughly 6% to 7% above the current price. The 50-day has rolled over since peaking in early October. Reclaiming the band would put XRP back inside its September trading range.

Resistance ~$1.70 August spike high, top of the Fib range Resistance ~$1.53 0.236 Fib, late-September ceiling Resistance $1.41–$1.43 50-day SMA and 0.382 Fib cluster Pivot ~$1.34 0.5 Fib, former support Support $1.24–$1.28 Golden pocket with the 100- and 200-day SMAs Support ~$1.14 0.786 Fib, next buffer below the floor Support ~$0.99 August low, where the breakout started Momentum starts to turn RSI has hooked higher after drifting lower through October and has crossed back above its signal line. It still sits under the 50 midpoint, so the turn is early, but it is the first shift in momentum to back the bounce off the floor.

Daily RSI: 42

Oversold
0-30 Weak
30-50 Strong
50-70 Overbought
70-100 ▲
42

RSI measures momentum on a 0–100 scale. Below 30 signals oversold conditions, above 70 overbought, and 50 splits bearish from bullish momentum. At 42, XRP sits in the weak zone but has started to climb.

The case against the floor Each bounce this month has topped out lower than the last, and the 50-day SMA now slopes down. A stronger floor does not guarantee a stronger rebound, and a clean break below the golden pocket would leave little on the chart until the next Fibonacci level down.

Potential Moves

XRP is wedged between resistance at $1.34 and the golden pocket floor at $1.24-$1.28.

IF UP A daily close above $1.34 in the coming days could confirm the bounce and open a move toward the 50-day SMA and 0.382 Fib cluster. IF DOWN A daily close below $1.24, the bottom of the golden pocket, before the end of October could break the floor and expose the 0.786 Fib near $1.14. BIG PICTURE XRP still trades about 34% above its August low, and holding the golden pocket would keep the move a retracement of that breakout rather than a reversal. This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Bitcoin, Ethereum or XRP? Wintermute Picks the Safe Asset

A recent analysis claims that approximately 225 million XRP is available for sale across major cryptocurrency exchanges at prices up to $5, challenging some widespread perceptions about the actual liquid supply in the market. The report, announced by analyst Edo Farina, was based on an examination of 64 trading venues and 171 trading pairs.

Visible supply contrasts with wallet balancesFarina explained that, while roughly 22 billion XRP sits in exchange wallets tracked by his research, these balances do not indicate true sell-side liquidity. For example, Binance holds about 2.6 billion XRP, yet much of this total represents customer assets in storage, not tokens currently being offered for sale. This distinction underlines that wallet balances alone do not represent the amount available at current prices.

The significance of this finding lies in the ongoing debate within the XRP community regarding potential supply shocks. Many have pointed to large exchange wallet figures as evidence of immediate liquidity, but the analysis suggests that these metrics can be misleading.

Order book snapshot shows limited sell ordersWith XRP trading near $1.31 during the study, Farina reported about 35 million XRP listed as sell orders within 2% above the market price on what he categorized as trusted exchanges. Meanwhile, buy orders within 2% below the price totaled roughly 44 million XRP. This revealed greater visible buying interest on these platforms at that particular price range, although the analyst cautioned that this snapshot does not capture the full dynamics of the market.

Across all exchanges reviewed, visible sell orders between the spot price and the $5 mark summed to approximately 225 million XRP. When focusing solely on the trusted exchange subset, the number was closer to 100 million XRP. Farina said that duplicate order books, inactive markets, and very distant orders outside ordinary trading ranges were filtered out of the analysis for clarity.

“An order book is like a picture, not a movie,” Farina noted, emphasizing that static data provides only a fleeting view of market conditions and cannot predict how buying pressure would impact prices over time.

Order books are subject to rapid changes as orders are placed, canceled, adjusted, or hidden. Therefore, conclusions about XRP price movement based solely on these figures should be made with caution. The underlying dataset and detailed methodology were not disclosed, adding further limits to reproducibility.

MetricValueVisible sell orders ($1.31–$5)225 million XRP (all exchanges)Sell orders on trusted exchanges100 million XRPXRP in exchange wallets22 billion XRPSell orders within 2% above market35 million XRPBuy orders within 2% below market44 million XRPInstitutional demand and hypothetical scenariosFarina’s YouTube analysis considered what might happen if an institution attempted to buy $1 billion worth of XRP, though he stressed that any real institutional actor would likely rely on over-the-counter (OTC) transactions rather than public order books to avoid slippage and adverse price effects. He mentioned BlackRock as an illustrative example rather than as an actual buyer.

The video also explored wallet movements linked to Arthur Britto, one of the co-creators of the XRP Ledger, including transfers to Bitstamp. Farina proposed a possible connection between these transfers and Ripple’s payment liquidity needs but made clear that wallet activity alone is not enough to determine true intent or subsequent actions once assets arrive at an exchange.

Market participants continue to monitor XRP transactions and exchange data for signs of changing liquidity and demand as interest in the cryptocurrency sector remains strong.

Mini dictionary: Arthur Britto – One of the three original founders and architects of the XRP Ledger, Britto played a key technical role in the early development of Ripple’s blockchain infrastructure.

Large institutional purchases, such as a hypothetical $1 billion buy, would likely utilize private liquidity channels. Public order books do not accurately reflect the market impact or supply dynamics for such transactions.

XRP, the native cryptocurrency of the XRP Ledger, is trading around $1.34 as of October 20, 2026. Also commonly referred to as Ripple coin, XRP is approximately 64% below its all-time high of $3.65 and 22% below its late-September weekly peak of $1.66.

Three developments are driving much of the decline: US spot XRP ETFs recorded their first weekly outflow in 14 weeks, up to 1 billion XRP held in Ripple’s escrow accounts will become eligible for release on November 1, and Bitcoin has fallen toward $83,000. Declines in Bitcoin often lead to even sharper losses across the altcoin market.

This article examines why XRP is falling, the price levels analysts are monitoring, and the developments that could change its outlook. It also looks at the MemeToro $MT presale for readers interested in exploring early-stage cryptocurrency projects during periods of weakness in established digital assets.

MemeToro is an open-source, AI-powered meme coin launchpad being developed on BNB Chain. Stage 9 of its presale is priced at $0.00649 per token. The project’s token contract has undergone three security audits, purchased tokens are delivered directly to buyers’ wallets, and a public testnet is already available.

This article contains sponsored content about MemeToro. Nothing presented here constitutes financial advice.

Key takeawaysXRP price today: According to FinanceFeeds, XRP is trading around $1.34 on October 20, 2026. KuCoin News reports that its market capitalization declined by approximately $5.83 billion over seven days from $88.22 billion on October 12.ETF flows reverse: US spot XRP ETFs recorded approximately $1.84 million in net outflows last week, ending 13 consecutive weeks of inflows, according to SoSoValue data reported by Coin-Turk and FXStreet.MemeToro presale: Stage 9 of the $MT presale is underway at $0.00649 on BNB Chain. Tokens are delivered directly to buyers’ wallets, and the token contract has been audited by Coinsult, SolidProof, and BlockSAFU.Upcoming supply event: Up to 1 billion XRP will become eligible for release from Ripple’s escrow accounts on November 1 at 00:00 UTC. Historically, Ripple has re-locked approximately 70% of released tokens.Bitcoin’s influence: According to 24/7 Wall St., Bitcoin is trading near $81,000 with a market dominance of 59.5%. Altcoins typically face greater pressure when Bitcoin declines.Key XRP price levels: FXStreet and FinanceFeeds identify $1.28 and $1.24 as important downside levels, while $1.34–$1.38 is the immediate resistance area.Next major event: The Federal Reserve is scheduled to meet on October 27–28.MemeToro ($MT) in 60 secondsMemeToro is an open-source, AI-powered meme coin launchpad under development on BNB Chain. Its native $MT token is currently available in Stage 9 of the presale.

Price: 1 $MT = $0.00649. Once the Stage 9 fundraising target is reached, the next stage will begin at a higher token price.

What supporters highlight: Three token security audits completed by Coinsult, SolidProof, and BlockSAFU; publicly available code under an MIT license; just 2% of the total token supply allocated to the team; and 71% reserved for the public sale. Purchased tokens are also delivered directly to buyers’ wallets.

What to consider: Interested readers can visit MemeToro’s official website to review its tokenomics and open-source code. The project’s risks should also be carefully considered before making any investment decision.

Why consider MemeToro ($MT) while XRP is falling?When major cryptocurrencies experience sharp declines, some investors consider allocating a small portion of their portfolios to higher-risk, early-stage projects. MemeToro falls into this category, although it differs substantially from XRP.

According to CoinGecko, XRP has a market capitalization of approximately $83 billion and is supported by spot ETFs trading in the United States. MemeToro, by contrast, is an early-stage project developing an open-source, AI-powered meme coin launchpad on BNB Chain. Its $MT token remains in a staged presale.

MemeToro’s operating model follows a straightforward principle: AI generates proposals, while smart contracts execute transactions according to predefined, transparent rules.

The platform’s AI agent analyzes news and trends on X to develop meme coin concepts. It explains the reasoning behind each proposal and records the results in a machine-readable file called a launch manifest, which contains the terms governing a token launch.

A smart contract called FairLaunchEscrow then applies those published conditions. The AI is responsible for generating and explaining ideas, but it does not control users’ funds.

The project’s code is publicly available on GitHub under an MIT license. The MemeToro team describes its current repository as an early-stage minimum viable product (MVP), with development of the launchpad still underway.

Supporters of the MemeToro ($MT) presale highlight several features:

Transparent operations: Token launch conditions are published before fundraising begins. Smart contracts are designed to enforce those rules, reducing reliance on promises made by the development team.Open-source code: The AI agent, launch manifest format, escrow contract, and testing framework are publicly available under an MIT license.Independent audits: Three separate security firms have audited the $MT token contract.Public-focused token allocation: Of the total supply, 71% is allocated to the public sale and 2% to the team. Marketing tokens follow a 24-month vesting schedule.Accessible purchasing options: Buyers can pay with cryptocurrency or a credit card. Tokens are sent directly to their wallets, and the website supports more than 16 languages.A working testnet: Users can explore the platform’s functionality without committing real funds.Staged pricing: Each new presale stage begins at a higher price. The $0.00649 price is therefore available only while Stage 9 remains open.How to buy $MT in Stage 9: Visit the presale section of the official MemeToro website and carefully verify the website address. You can connect a wallet on BNB Smart Chain or select the credit card payment option.

Before completing a purchase, verify the contract address and review the Stage 9 price and sale conditions. Purchased $MT tokens are transferred directly to your wallet. You should also check the regulations applicable in your jurisdiction before participating.

Why is XRP falling? Five reasons behind the decline1. Demand for XRP ETFs has weakenedUS spot XRP ETFs have attracted approximately $1.8 billion since launching nearly a year ago. However, the funds recorded around $1.84 million in net outflows last week.

According to SoSoValue data reported by Coin-Turk on October 17, this ended a streak of 13 consecutive weeks of inflows.

Although the outflow was relatively small, the reversal is significant because ETF purchases had been one of the more consistent sources of demand for XRP.

According to 24/7 Wall St., total assets held by dedicated XRP investment funds declined from $1.77 billion to approximately $1.47 billion.

Bitcoin ETFs, meanwhile, showed a different trend. FinanceFeeds, citing Farside Investors data, reported that US-listed Bitcoin funds attracted $526.7 million on Monday.

2. More XRP could enter circulationRipple’s next escrow release is scheduled for Sunday, November 1, at 00:00 UTC. Two escrow accounts containing a combined 1 billion XRP will become eligible for release.

As of October 18, Ripple held 31.40 billion XRP in escrow.

Over the previous 12 release cycles, the company unlocked a total of 12 billion XRP but subsequently re-locked 8.4 billion tokens, equivalent to approximately 70%.

According to FinanceFeeds, Ripple followed a similar pattern in October. After releasing 1 billion XRP, it re-locked 700 million, leaving a net 300 million XRP outside escrow.

This means the entire 1 billion XRP scheduled for potential release on November 1 will not necessarily enter circulation. Nevertheless, the upcoming event remains an important consideration for traders.

3. XRP supply has grown faster than its market valueAccording to an October 16 CoinDesk report citing Nansen data, XRP’s circulating supply has increased by 63% since 2017.

During that period, the number of XRP tokens in circulation rose from 38.7 billion to 63.1 billion, while the cryptocurrency’s total market capitalization declined by approximately 3%.

Nansen analyst Nicolai Sondergaard explained that an increase in circulating supply means each token represents a smaller share of roughly the same total market value.

XRP’s weaker performance compared with other major cryptocurrencies has also attracted attention.

According to Tesseract Group’s Oliver Carding, quoted by CoinDesk, XRP has lost approximately 59% of its value since August 2025. Bitcoin declined 32% over the same period, while Ether fell 44%.

4. Bitcoin weakness and macroeconomic conditions are adding pressureBitcoin is trading near $83,000 after briefly falling below $80,000 earlier this week.

US inflation rising to 3.7% in September has also weighed on market sentiment. Investors are now looking ahead to the Federal Reserve’s October 27–28 meeting.

According to 24/7 Wall St., Bitcoin accounts for 59.5% of the total cryptocurrency market, while XRP represents approximately 3%. Altcoins generally face greater pressure during periods of Bitcoin weakness.

The same publication reported that the overall cryptocurrency market declined by 3.5% in 24 hours on October 17.

5. XRP demand indicators have deterioratedAccording to CoinGlass data cited by FXStreet, open interest in XRP perpetual futures declined from 2.34 billion XRP on October 1 to an average of 2.17 billion XRP on Monday.

FXStreet also highlighted weakening interest from both retail and institutional investors.

Technical indicators reflect a similar trend. The Relative Strength Index (RSI) is hovering around 37, while the Moving Average Convergence Divergence (MACD) indicator remains in negative territory.

Developments involving Ripple have also failed to provide meaningful support for XRP’s price.

On October 15, Ripple Prime introduced perpetual swap trading for more than 100 underlying assets using RLUSD as collateral. However, CryptoTicker noted that XRP is neither accepted as collateral nor used as a settlement asset within the system.

According to XRP Insights, RLUSD’s circulating supply has reached approximately $2.43 billion. Nevertheless, RLUSD’s growth does not directly require users to purchase XRP.

Why is XRP down today? Developments that moved the price this weekAccording to CryptoTicker, XRP started the week around $1.33. It fell to $1.2827 on October 15 before staging a recovery.

XRP Insights data shows that the cryptocurrency ended the October 9–16 reporting period at $1.30, representing a decline of 6.5%.

Compared with its late-September weekly peak of approximately $1.66, XRP has now surrendered roughly one-fifth of its previous rally.

Meanwhile, shares of Evernorth, trading under the ticker XRPN, fell approximately 9.6% to $15.45 during the week ending October 16.

FinanceFeeds emphasized that the decline in the company’s share price does not, by itself, indicate that Evernorth sold any XRP.

XRP price today: Key support and resistance levels to watchDownside levels: According to 24/7 Wall St., XRP fell as low as $1.28 on October 15. A closing price below this level could open the door to a return toward the trading range seen in August.

XRP ended the week of August 16 at $0.99. FinanceFeeds identifies $1.24, near the lower Bollinger Band, as an additional reference level in a bearish scenario.

Upside levels: FXStreet places XRP’s 100-day moving average at $1.34, while its 50-day and 200-day moving averages are near $1.38. A significant technical resistance area lies around $1.40.

FinanceFeeds identifies $1.38, corresponding to the 200-period moving average on the weekly chart, as an important reference level for a bullish scenario.

Higher resistance levels: 24/7 Wall St. highlights previous closing levels at $1.42 and $1.49. According to FXStreet, the SuperTrend indicator currently stands near $1.47.

These levels are technical reference points, not guaranteed price targets or forecasts. XRP can move beyond them in either direction.

XRP price prediction: Can XRP return to $1.50 before the end of 2026?In its October 18 analysis, 24/7 Wall St. outlined two potential scenarios rather than providing a definitive price target.

Under the first scenario, if XRP closes above $1.42 and spot ETFs record another week of net inflows, the $1.50 level could come within reach.

In the second scenario, a close below $1.28 could lead to another decline toward the August trading range near $0.99.

The publication concluded that XRP appears increasingly unlikely to close above $1.50 before December 31.

However, all XRP price predictions for the end of 2026 depend on specific market conditions. Ripple’s upcoming escrow releases, ETF fund flows, and Bitcoin’s price movements remain among the most important variables determining which scenario may unfold.

XRP vs. Bitcoin: Which has performed better?Bitcoin has demonstrated greater resilience than XRP in recent months.

Since August 2025, Bitcoin has declined approximately 32%, compared with a 59% drop in XRP.

ETF data also highlights this divergence. Bitcoin ETFs attracted $526.7 million on Monday, while XRP ETFs recorded their first weekly outflow in 14 weeks.

Bitcoin is trading approximately 35% below its all-time high. XRP, meanwhile, remains around 64% below its own record.

Although XRP declined alongside Bitcoin, it has not recovered to the same extent during Bitcoin’s rebounds. This divergence is consistent with Bitcoin’s elevated market dominance.

Nevertheless, the performance gap between the two cryptocurrencies could change over time. XRP has also experienced periods when it outperformed Bitcoin.

Is XRP a good investment right now?The answer depends on your investment objectives and how much risk you are prepared to accept.

XRP supporters point to approximately $1.8 billion in cumulative ETF inflows, the growth of RLUSD on the XRP Ledger, and Ripple’s institutional partnerships as positive developments.

Critics, including analysts quoted by CoinDesk, focus on different concerns. These include XRP’s growing circulating supply, relatively limited ETF demand compared with Bitcoin and Ether, and the lack of sustained buying interest despite positive developments involving Ripple.

According to 24/7 Wall St., XRP has declined approximately 29% since the beginning of the year.

Neither side can predict the market’s next move with certainty. Any XRP position should therefore be treated as a high-risk investment.

Frequently asked questionsWhy is XRP going down?The main factors reported this week include the first weekly outflow from spot XRP ETFs in 14 weeks, the upcoming release of up to 1 billion XRP from Ripple’s escrow accounts on November 1, circulating supply growth that has outpaced market value, and weakness in Bitcoin and the broader macroeconomic environment.

Why is XRP down today?XRP is trading near $1.30, with losses ranging from 6.5% to 8.7% over the past week, depending on the data provider. Slowing ETF purchases and Bitcoin’s decline toward $81,000 have contributed to the downward pressure.

What will happen to XRP on November 1?Up to 1 billion XRP will become eligible for release from Ripple’s escrow accounts at 00:00 UTC. Historically, Ripple has re-locked approximately 70% of released tokens, meaning the net amount added to circulation has been considerably smaller.

Is XRP a good investment right now?XRP remains a high-risk investment. Supporters highlight ETF inflows over the past year and the expansion of RLUSD, while critics point to growing supply and subdued demand. Investors should only commit amounts they can afford to lose entirely.

What is MemeToro ($MT)?MemeToro is an early-stage, open-source, AI-powered meme coin launchpad being developed on BNB Chain. $MT is the platform’s utility token.

Stage 9 of the presale is priced at $0.00649, and purchased tokens are delivered directly to buyers’ wallets.

The project remains at an early MVP stage, and the smart contracts responsible for launching tokens have not yet undergone an independent security audit.

What is the MemeToro Stage 9 presale price?The current Stage 9 price is $0.00649 per $MT token.

Each presale stage has a specific target. Once that target is reached, the next stage begins at a higher price. Buyers should verify the current price on the official website before making a purchase.

Is the MemeToro presale legitimate?Several aspects of the project can be independently reviewed, including its publicly available source code, published token contract address, tokenomics, and three completed token audits conducted by Coinsult, SolidProof, and BlockSAFU.

However, there are also risks to consider. The development team operates under pseudonyms, and the smart contracts governing token launches have not yet undergone independent security audits.

Prospective participants should review the published audit reports before making any investment decision.

How can I participate in the MemeToro presale?Visit the official MemeToro website. You can connect a wallet on BNB Smart Chain or choose to pay by credit card.

Before confirming a purchase, verify the contract address and Stage 9 price. Purchased $MT tokens are delivered directly to your wallet.

Never purchase tokens through links sent in unsolicited messages.

Are XRP and Ripple the same thing?No. Ripple is a company, while XRP is the digital asset used on the XRP Ledger.

Although people frequently search for XRP using terms such as “Ripple coin” or “Ripple price,” the quoted market price refers to XRP, not the company.

Where to learn more about MemeToro ($MT)Official website: https://memetoro.com/GitHub: https://github.com/MemeToro/memetoroTokenomics: https://memetoro.com/tokenomicsX: https://x.com/memetoro_mtTelegram: https://t.me/memetoro_mtYouTube: https://www.youtube.com/watch?v=gY0jgWy_DtA

Ripple has launched its RLUSD stablecoin on Inveo Kripto, a regulated crypto asset platform in Türkiye, making the token available to retail and institutional investors in the country for the first time.

Partnership brings RLUSD to Turkish usersInveo Kripto, a major bank-custodied crypto asset platform based in Türkiye, announced its collaboration with Ripple to list RLUSD on its trading platform. This partnership enables Turkish customers to trade, hold, and transact RLUSD, Ripple’s US dollar-pegged stablecoin, through a variety of channels.

The launch follows Ripple’s recent efforts to expand the reach of RLUSD internationally, building on a series of global partnerships. With this move, Turkish investors gain access to RLUSD on Inveo Kripto’s mobile application, web platform, and over-the-counter (OTC) services.

RLUSD’s integration into a bank-custodied environment may introduce additional safeguards for users, aligning with regulatory expectations for digital assets in the country.

Mini dictionary: Inveo Kripto is a bank-custodied cryptocurrency trading platform regulated in Türkiye, known for offering digital asset management and secure trading solutions to both retail and institutional investors.

Expanded access for retail and institutional investorsBoth individual and institutional investors in Türkiye now have the ability to access RLUSD liquidity. Inveo Kripto has confirmed that RLUSD trading is live across its digital channels, including its mobile and web platforms, as well as through OTC services for larger transactions and institutional clients.

Ripple stated that the integration was completed successfully, and the first RLUSD transaction has already been executed on Inveo Kripto. This development broadens the availability of Ripple’s stablecoin in the country and may encourage increased market activity around RLUSD.

Following the integration, Inveo Kripto stated that RLUSD is now available for trading through its mobile app, website, and OTC desk, enabling broader access for a range of investors.

The company emphasized that having RLUSD available through a bank-custodied platform could improve trading efficiency, payment services, and digital asset settlement for Turkish users.

PlatformAccess ChannelsTarget UsersInveo KriptoMobile app, web platform, OTCRetail and institutional investorsPotential for increased stablecoin adoptionMarket participants in Türkiye can now trade, settle, and make payments using RLUSD, potentially fostering greater adoption of the stablecoin in both retail and institutional segments. The introduction of RLUSD on a regulated, bank-backed platform may further encourage confidence among users seeking digital dollar exposure in the Turkish market.

The expansion of RLUSD’s reach could also contribute to its recognition and competitiveness among other stablecoins available in the region.

The broader rollout of RLUSD through an established Turkish platform could drive higher trading volumes and boost the stablecoin’s position in local markets.

Ongoing price struggles for XRP have sparked increasing frustration among its most dedicated supporters, with prominent crypto enthusiast Mino suggesting that the negative mood could mark the digital asset’s turning point.

Rising dissatisfaction among XRP holdersMino, who is well known in the Ripple and XRP community for his analysis and online presence, recently highlighted a noticeable shift in tone from XRP investors. According to his observations, not only skeptics but also longtime holders are voicing discontent, questioning the token’s utility and expressing impatience over its lackluster price performance.

He noted that many investors claim they can no longer tolerate the ongoing stagnation or have already sold their holdings. Mino interprets these developments as signals that pessimism has become widespread—an environment, he suggests, that can often precede a recovery in the market.

Even among loyal $XRP supporters, expressions of disappointment and reports of selling are growing, fueling speculation that the token may be nearing a new upward phase as despair in the community intensifies.

Despite this perspective, Mino cautioned that collective frustration is not itself a guarantee of renewed momentum. Actual price shifts for XRP will continue to depend on broader market trends, including liquidity, investor appetite, and movements across the larger cryptocurrency sector.

Long-term supporters seek resultsAriel Gonzalez, a longtime community member, challenged the idea that holders should simply remain patient, noting he was among the 60,000 participants who joined attorney John Deaton in supporting XRP during its legal battles with regulators. Gonzalez said that after holding the asset for 14 years, he expected to see stronger price appreciation, especially following positive developments in the past two years.

He summarized a sentiment shared by many in the XRP community: that steadfastness should be rewarded with meaningful returns, rather than continued stagnation near the $1.27 mark.

Debate intensifies over patience and utilityOther voices in the discussion offered different viewpoints. Salerns, another community member, emphasized that enduring rough markets is often required before achieving significant gains. He advised that adoption, use-case expansion, and network transformation remain key to the XRP investment case, while pointing out that frustration alone should not dictate investment decisions.

By contrast, a commenter known as G man questioned Ripple’s strategy of releasing XRP from escrow, arguing that a tighter supply could benefit the price. He also challenged whether institutional adoption of the XRP Ledger would directly help individual investors, since institutions can utilize the ledger’s technology without necessarily buying the token itself.

This discussion has raised new questions for investors about how increased usage of the network might—or might not—translate into increased demand for the XRP token.

Ripple, the company closely associated with XRP, is a technology firm focused on providing real-time payment and settlement solutions using blockchain. The XRP Ledger is Ripple’s decentralized public blockchain network designed to enable fast, low-cost cross-border transactions.

Mini dictionary: XRP Ledger, a decentralized blockchain developed by Ripple, facilitates secure and efficient global payments through its native asset, XRP. Institutions and users can transact or build on the ledger, but using its features does not always require holding XRP directly except for transaction fees or liquidity provision.

While Mino maintains that the surge in negative sentiment could signal an impending price shift, overall opinions remain divided. Many in the community stress they want to see concrete gains before embracing optimism, acknowledging that true recovery will depend on broader market forces and actual demand rather than despair alone.

XRP has returned to a key price range identified by cryptocurrency analyst JD, known on social media as @jaydee_757, marking a significant moment for traders following his technical outlook over recent months.

Key price zone retestedJD has been monitoring this “grey box” price region since early August, sharing his analysis with followers and Patreon subscribers. The zone spans between $1.25 and $1.30, where XRP now trades after a noticeable pullback from its recent high near $1.4197.

According to JD, this area represents a dollar-cost averaging (DCA) zone that he had highlighted well in advance of the current sell-off. The pullback into this range has reinforced his earlier technical perspective.

JD’s recent social media post emphasized the asset’s precise return to the targeted area, writing, “We crashed right back into my grey box again,” underscoring the alignment between his chart and XRP’s price action.

“We crashed right back into my grey box again,” JD wrote in reference to the DCA area, highlighting the accuracy of his technical forecast and alerting followers to ongoing risks.

Technical chart detailsJD’s chart highlights several notable features on the weekly timeframe. XRP currently trades below its EMA, positioned at $1.5085. The gap between the price and this key moving average underlines persistent selling pressure that has weighed on the asset throughout recent weeks.

In addition to the orange-highlighted DCA zone, the chart displays a downward-sloping yellow trendline, which provides additional context for the bearish momentum currently affecting XRP.

The asset has produced a series of red weekly candles, with price action drifting steadily into the identified support region, reinforcing JD’s technical thesis.

MetricCurrent ValueRelevant ZonePrice~$1.28$1.25–$1.30 (DCA zone)Weekly EMA$1.5085Above current priceRecent High$1.4197Prior to latest pullbackOngoing warning signsDespite the technical precision, JD urged caution, stating that major warning signs remain. He indicated that these signals must be resolved before he considers any shift from his bearish outlook. While he did not list every specific risk, his chart and commentary suggest that holding the “grey box” support is critical for any potential stabilization.

Should XRP lose this level, JD expects a much deeper correction, saying he stands ready to increase his buying activity via additional dollar-cost averaging if prices drop further.

JD cautioned that unless critical warning signs are negated, he expects a much deeper crash and will be increasing his DCA strategy accordingly.

Approach to dollar-cost averagingDollar-cost averaging is a strategy where investors purchase fixed amounts of an asset at regular intervals, regardless of price fluctuations, in an effort to reduce market timing risk. JD’s approach focuses on accumulating XRP at these pre-determined levels, a method he considers more disciplined than reacting to daily swings. The fact that this price region was flagged months ahead lends additional significance to its retest.

JD announced plans for a full chart update, which is expected to provide further clarity on whether warning signs are subsiding or if lower targets may emerge. Defending the $1.25–$1.30 level remains his central concern in the near term.

Mini dictionary: Dollar-cost averaging (DCA) is an investment strategy that involves buying a fixed dollar amount of an asset at regular intervals, regardless of its price, in order to average out the purchase price over time and reduce the impact of volatility.

Sparkassen, the largest banking network in Europe, has started offering XRP trading services to its customer base, according to a recent report from Whale Insider. The new service is available through DekaBank and marks a significant expansion for XRP in the region, as the long-standing altcoin holds its position near the $1.32 demand zone.

European banking giant opens door to XRPThe Sparkassen network commands a major role in Germany’s financial sector, managing more than €1.62 trillion in total assets, €1.247 trillion in customer deposits, and over €1.08 trillion in customer loans. Although Sparkassen is not publicly traded, it operates at a scale that impacts both Germany and broader European markets.

DekaBank is facilitating the new XRP trading feature via a structure that charges €0.99 per order plus spread. The platform offers pooled custody, meaning customers are not provided with private keys. Withdrawals are restricted, and the launch will be phased in as over 230 banks within the network have already shown interest.

Sparkassen currently serves approximately 50 million customers globally, holding over 53 million giro accounts. These accounts enable direct, payer-initiated money transfers, with funds pushed straight from the sender’s bank to the recipient without intermediary steps. According to information shared by the network, XRP trading will become available within the Sparkassen banking application starting October 19, 2026.

The rollout of XRP trading was accompanied by a promotional event featuring Sparkassen’s mascot, the frog, a figure recognized within certain crypto communities.

Structural scope and new market opportunitiesThe Sparkassen-Finanzgruppe umbrella now controls combined assets of more than €2.601 trillion, surpassing €2.537 trillion at the close of 2024. The group comprises roughly 500 affiliated entities, including insurers, lenders, and leasing companies, reflecting its extensive reach across financial services in Europe.

Stakeholders have highlighted the added significance of XRP savings schemes, which extend the token’s utility beyond its established application in cross-border settlements. This expansion could create new opportunities for long-term holders and institutional clients throughout Europe.

With spot trading volumes for XRP currently reported around $3 billion over a 24-hour period, the anticipated surge in retail activity from Sparkassen’s adoption presents significant potential for price growth and liquidity in the coming months.

The pace at which European retail traders adapt to XRP’s trading mechanisms remains uncertain, especially as the token’s value continues to hover below $1.32.

Given these developments, technical monitoring and market agility have never been more crucial for participants. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.

Sberbank, the largest bank in Russia, plans to make Bitcoin, Ethereum, and Tether’s USDT accessible to its 110.6 million retail customers starting December 1. The bank received approval from the Bank of Russia to operate as both a cryptocurrency exchange and a digital depository, according to recent announcements.

Launch details and access channelsThe new crypto assets will become available through Sberbank’s existing digital platforms, including SberBank Online, SberInvestments, and SberBusiness. As of the last quarter, Sberbank also served 3.5 million corporate clients. These established channels are already widely used by Russian consumers for day-to-day banking activities.

The exchange and depository licenses were cleared by the Bank of Russia, with the depository permit coming six days prior to the exchange approval on October 12. Sberbank indicated that the digital depository status will allow the bank to provide crypto trading and custody services within interfaces familiar to its clients.

“This status will allow the bank to provide services related to organizing the circulation of digital currency on interfaces which clients already use.”

Sberbank’s launch date is contingent on the finalization of secondary regulations by the central bank. The bank is now authorized to act as a counterparty to client trades and record client holdings in-house, eliminating the need for third-party platforms.

Asset offerings and investor restrictionsFor the initial rollout, only Bitcoin, Ether, and USDT are included in the Bank of Russia’s draft list for retail trading. Anatoly Popov, Deputy Chairman of Sberbank, has estimated that the annual crypto trading volume in Russia could reach 4 trillion rubles, approximately $48 billion, after the introduction of these services.

In recent years, Sberbank has expanded its digital asset services, offering structured bonds and digital financial products linked to cryptocurrencies. In December 2025, the bank conducted a test of a crypto-backed loan involving qualified investors, and its offerings now extend to crypto baskets as well.

First Deputy Chairman Alexander Vedyakhin explained that a digital depository would be central to the new infrastructure, maintaining records of client cryptocurrency rights and accounting for off-chain transactions.

Mini dictionary: Digital depository, a platform or entity designated to store, record, and track digital assets and cryptocurrency holdings for users, often performing custodial and settlement functions outside of public blockchains.

Regulatory framework and transaction limitsUnder the latest regulations, approved intermediaries such as Sberbank may sell up to 300,000 rubles (around $3,600) of digital assets annually to each non-qualified retail investor. Buyers must pass a knowledge test before making such purchases. Despite the ability to buy cryptocurrencies like Bitcoin, Sberbank clients will not be able to use crypto for goods and services payments within Russia, in line with the country’s prohibition on crypto payments for transactions.

Further, the law specifically prohibits transfers of digital currency between individuals and bans transfers to non-custodial wallets. The Bank of Russia clarified that individual-to-individual digital currency transfers are forbidden under Part 5 of Article 31 of Federal Law No. 282-FZ, although certain direct deals will be permitted until July 1, 2027.

AssetStatus for Retail BuyersYearly Cap (Non-qualified)Bitcoin (BTC)Approved300,000 RUBEthereum (ETH)Approved300,000 RUBUSDTApproved300,000 RUBPresident Vladimir Putin signed the law “On digital currencies and digital rights” in August, putting it into effect on September 1. Until July 2027, some limited direct peer-to-peer crypto deals are still permitted.

Sberbank is one of nine companies on the Bank of Russia’s register of exchange operators, alongside other major Russian institutions such as VTB and T-Invest Lab. The depository register includes five entities, featuring VTB and Atomyze. Currently, Sberbank, VTB, and Atomyze are all subject to Western sanctions in response to Russia’s actions in Ukraine, and authorities have accused Moscow of using digital assets to attempt to bypass these restrictions.

Why Is Bitmine Stock Surging on Tuesday?

Bitcoin regained momentum, climbing toward $83,000 on October 20, fueled by renewed optimism following reports of a potential US-Iran peace agreement. This uptick coincided with positive sentiment in broader markets, even as subsequent updates cast doubt on the proximity of any finalized deal.

Diplomatic developments factor into market reactionsSources with knowledge of ongoing talks revealed that Qatar and Pakistan had presented a compromise proposal to representatives in Washington and Tehran. Pakistani army chief Asim Munir delivered the proposal during a visit to Tehran, aiming to foster concessions between both parties and restore mutual trust after recent hostilities.

According to the proposal, Iran would allow a secret International Atomic Energy Agency inspection of its nuclear facilities, while the United States would grant Iran access to interest accrued on $6 billion in frozen funds held in Qatar. However, this would not include the release of the full sum, which remains a key demand for Tehran. The United States continues to insist on addressing Iran’s nuclear program before making further concessions.

Market observers noted that the recent peace report sparked a 1.5% rebound in Bitcoin, while Ethereum rose by about 2.5% and XRP advanced approximately 3%. These gains reflected investor optimism but did not confirm a breakthrough in diplomatic relations.

Walter Bloomberg, known as DeItaone, highlighted that although Iran-US negotiations are ongoing, direct claims about a nearing agreement are inaccurate. This distinction underscores continuing uncertainty over nuclear talks, frozen funds, and the status of Strait of Hormuz shipping routes.

Lingering challenges and geopolitical pressuresDespite positive feedback on the latest proposal, unresolved issues remain. Washington’s calls for nuclear program discussions from the outset clash with Tehran’s conditions for relief from naval blockades, oil sales restrictions, and access to frozen assets as a prerequisite.

Senior Iranian officials continue to report growing mistrust toward US commitments, highlighting fears of renewed military strikes and attempts to exert political pressure ahead of the US elections. The complexity of sequencing and content has left prospects for a final agreement unclear.

After initial optimism, an update reiterated that reports of an imminent deal were unfounded, further emphasizing the difference between active negotiations and concrete results.

Economic impact and institutional flowsGeopolitical concerns in the Strait of Hormuz have continued to generate volatility in both commodities and digital assets. An explosion reported by Iranian Revolutionary Guard navy following a tanker incident emphasized the risks associated with shipping in the region. On October 19, regional stock markets declined due to growing shipping concerns, while Brent crude oil fell by 1.32% to $108.41 per barrel as market participants locked in profits after a loosening of US restrictions on Russia.

Prolonged conflict and continued energy supply disruptions could further strain regional economies, according to the IMF, which has warned of mounting inflation risks as fiscal buffers tighten. In this environment, the interplay between global events, inflation, and risk appetite becomes increasingly important for Bitcoin’s position as an alternative asset. A durable US-Iran agreement could ease uncertainty over energy supply and regional market stability if achieved.

Meanwhile, institutional activity has remained significant in digital asset markets. US Bitcoin spot ETFs attracted net inflows of $526.6 million on Monday, with BlackRock’s iShares Bitcoin Trust accounting for $665.16 million, marking its largest daily inflow since October 7, 2025. Ethereum vehicles, in contrast, saw continued outflows, losing $103.3 million over four consecutive days.

While investors watch for key technical levels and news headlines, the surge in meme token activity provides another example of shifting market dynamics. In the meme token sector, an internet trend can rapidly convert into liquidity. Fomo App data cited a notable case, where a $99 trade in “Niu Lai” generated returns of roughly $370,000—illustrating the importance of tracking not only token prices, but also timing and investor behavior. Fomo App integrates token discovery, trading tools, social feeds, and investor rankings into one platform, enabling market participants to follow the evolving world of meme tokens alongside active investor strategies.

Institutional engagement in spot Bitcoin ETFs and ongoing diplomatic uncertainty combined to shape recent market movements, with risk appetite influenced by headlines and capital flows.

Planned release date October 26th.

Samuel Westrich · October 2026 · 20 min read

A series in three parts

Dash Platform 5.0 (you are here)
Who moderates Yappr?
How to start or join a Yappr moderation team

Dash Platform 5.0 is one of the biggest Platform releases we have shipped. It has been live on testnet since October 15, and we plan to release it for mainnet next Monday, October 26.

This is the first of three posts. This one covers what is in 5.0 and when it goes live. The second explains how moderation elections work and why Yappr uses them. The third is a step-by-step guide to starting or joining a moderation team.

The short answer

The dates. Platform 5.0 is released for mainnet on Monday, October 26. If enough evonodes have upgraded, the upgrade locks in on Friday, October 30, and protocol version 14 goes live on Sunday, November 8.

The headlines. Apps can moderate themselves, and communities can elect their moderators. Any token can have its own shielded pool, so balances and payments can be private. Apps can charge fees and earn from them, in the open. Data contracts can check their own links and rules without smart contracts. And apps can show provable trending lists, leaderboards and “posts I liked” pages, at a much lower cost.

What to do. Node operators: update with dashmate before October 30. App developers: move to the 5.0 SDKs before November 8.

The timeline
Here is every date, from testnet through to Yappr opening on mainnet:

Figure 1. Every date in one place. The mainnet times come from the epoch schedule and can shift by a few minutes. The Yappr dates are the earliest possible: they assume the contracts are registered the day after activation and a team applies as soon as elections open.

This week we are testing Yappr on testnet end to end: elections, moderation and the new contracts. That is the last big rehearsal before mainnet.

How an upgrade goes live
Releasing 5.0 does not switch mainnet over by itself. The evonodes decide when, and they do it in three steps that follow Platform’s epochs. On mainnet an epoch lasts 9 days and 3 hours.

Figure 2. An upgrade can only lock in at the start of an epoch, and it goes live one full epoch later. Mainnet epochs last 9 days and 3 hours.

Signal. Every evonode running 5.0 marks each block it proposes as ready for protocol 14. The network keeps one up-to-date vote per evonode.
Lock in. At the start of the next epoch, the network counts. If more than 67% of active evonodes signalled 14, the upgrade locks in. From that moment it cannot be stopped, and the activation date is fixed.
Go live. For one full epoch the network keeps running the old rules, which gives everyone time to finish upgrading. Protocol 14 starts with the first block of the epoch after that.

The epoch that matters started on Wednesday, October 21, and ends on Friday, October 30 at about 18:52 UTC. Evonodes that upgrade after the release on Monday and propose a block before Friday count toward the vote. If fewer than 67% have signalled by then, nothing breaks: the network simply counts again at the next boundary, which would move lock-in to November 8 and activation to November 18.

On its first block, protocol 14 also does some one-time setup. It adds two new system contracts, Moderation Charters and App Connect, updates DashPay, Withdrawals and Token History, and prepares the storage the new features need.

If you run a node
Update with dashmate as soon as the release is out, and before Friday, October 30, so that your evonode’s vote counts:

dashmate stop
npm install -g dashmate
dashmate update
dashmate start

Do a full stop and start rather than restarting Platform alone: 5.0 needs Core to reload its RPC settings once, and Drive will not start until it has. Every Platform node needs 5.0 before November 8. A node still on 4.x keeps running until then, with a warning in its logs, and stops at the activation block until it is upgraded. 5.0 is also ready for Dash Core 24.

If you build apps
Move to the 5.0 SDKs (@dashevo/evo-sdk 5.0 and the 5.0 Rust SDK) before November 8. Document ids, the way documents are stored and the proofs clients accept all change at protocol 14, so documents created by older SDKs are refused once it is live. Contracts that charge the new action fees also need every write to state the fee it agrees to, which the 5.0 SDKs handle for you.

What is in 5.0
5.0 is a big release, so here it is at a glance first. Each card jumps to its section.

Moderation: Banlists, suspensions, warnings and removals with public reasons. Elected moderation teams.
Private tokens: A shielded pool for any token, plus non-transferable tokens and once-per-identity airdrops.
Earning: Action fees for app owners and moderators, fee agreements, sponsored gas, cheaper short-lived data.
Smarter contracts: Links the network checks, rules without smart contracts, lists, expiry dates, fair name claims.
Queries: Provable top lists, trending windows, hashtags, “posts I liked” and whole feeds in one proof.
Keys and login: Keys limited to one app, spending budgets and expiry, contract groups, App Connect.
Names and votes: Cheaper usernames and votes, fairer ties, protection against flooding.
Under the hood: Smarter withdrawal limits, shielded credits, Core 24, GroveDB 6.1, hardening.

Apps can moderate themselves
Until now, nothing on Dash Platform could keep an abusive identity out of an app. With 5.0, a data contract can keep a banlist, a suspension list and a warning list, and its moderators can remove documents. Every action carries a public reason, a removed document leaves a record behind, and a removal can be undone within a week. A contract can also hand moderation to a team that masternodes and evonodes elect from public charters, paid from the app’s own fees. The second post in this series explains how that works and why Yappr uses it.

Private tokens with shielded pools
This is one of the parts of 5.0 I am most excited about. Any token can now have its own shielded pool, using the same Orchard technology Platform already uses for private Dash credits. Tokens in the pool are held as private notes, and inside it nobody can see who holds how much, or who paid whom.

Figure 3. Tokens enter a pool from a balance or straight from the issuer, move privately inside it, and leave to any identity or pay for an app action. Inside the pool, nobody can see who holds what or who paid whom.

In and out. Holders move tokens from their balance into the pool, and back out to any identity. Moving in shows the amount, and moving out shows the amount and who receives it. Everything in between is private.
Straight from the issuer. An issuer can mint new tokens directly into the pool, release scheduled distributions into it, and sell tokens straight into it, so tokens can be private from the moment they exist.
Private payments in apps. When an app charges a token for an action, like creating a document, the cost can be paid from the pool.
No identity at all. A private transfer, a withdrawal to a recipient, or a purchase into the pool can pay its fee from Platform’s shielded Dash, so no identity shows up anywhere.

There are trade-offs, and I want to be upfront about them. Each token has its own pool, so a token’s privacy grows with how many people use that pool: a pool holding a handful of notes hides very little. An issuer can require a minimum number of notes, up to 250, before tokens can leave the pool. A token with a pool cannot freeze or confiscate balances, because nobody holds a note in a way an issuer could act on, so those controls have to be switched off for good when the token is created. Pausing a token still works. Whether a token has a pool is decided when the token is created and cannot be changed later.

That makes shielded pools a good fit for things like a community currency, rewards, or paying people in a token, where balances are nobody else’s business.

More for tokens
Tokens can now be non-transferable, for things like points, reputation or allowances that should stay with the person who earned them. A token can offer a once-per-identity claim, an airdrop that every identity can take exactly once. And token payments for documents now respect a token’s pause and freeze rules.

Apps can earn, in the open
Apps could already charge their own tokens for actions. 5.0 adds fees in plain credits, split between the app’s owner and its moderators, and it is designed so users always know what they are paying.

Action fees
A document type can charge a fixed fee in credits for an action: creating, replacing, deleting, transferring, repricing or buying a document. Each fee has two parts. One goes into a pot for the app’s owner, the other into a pot for its moderators. The fee is either a fixed amount, or it follows the network’s fee multiplier, so it stays in step with normal fees. Only actions that actually happen pay, and the fees are fixed when the contract is created, so an app cannot quietly raise them later.

For example, creating a post could cost an extra 0.001 Dash for the moderators and 0.0001 Dash for the app’s owner, on top of the normal network fee.

Paying out the pots
Each pot can be claimed once per epoch, about every nine days. The owner pot goes to the contract owner. The moderators pot is split equally among the moderators, or, for an elected team, the way its charter says. Anyone can look up how much is in each pot and when it was last claimed, with a proof.

No surprise charges
Every write to a priced action states the fee its signer saw, and for fees that follow the multiplier, how much of a rise the signer accepts, for example up to 20%. If the price would be higher than what was signed, the network refuses the write and charges nothing for the attempt. A fall in price is always fine. So an app can never make a transaction you already signed cost more.

Sponsored gas and free usage
For actions paid with a token, the app’s owner can now pay the network fee instead of the user. Combined with optional token costs, this makes “free” apps possible: the app hands out tokens, people use the app for free while their tokens last, and then carry on paying normal fees themselves. A user who adds a priority tip to their own transaction still pays for that tip.

Pay only for how long data lives
Documents that expire (see smarter contracts) pay storage for their lifetime only, not forever. A document that lives for a day costs 4 credits per byte, one that lives a year about 1,360, against 27,000 per byte for permanent storage. The fee is paid out to the epochs the document actually lives through.

Smarter data contracts
Data contracts got a lot more expressive in 5.0, without becoming smart contracts. Everything here is declared in the contract and checked by every node, with no code to run.

Links the network checks
A property can now say what it points at, and the network checks that the target exists whenever a document is created or replaced. A target can be an identity, a contract, a token, one of an identity’s keys, or another document.

"replyTo": { "type": "identifier",
"refersTo": { "type": "deletableDocument", "documentType": "post" } }

Document targets come in three kinds, and the difference matters:

Permanent documents can never disappear, so a link to one can never dangle.
Moderated documents can only be removed by moderators, and every removal leaves a record, so the link always leads somewhere: to the document or to its removal record.
Deletable documents can disappear, so a link to one is checked again every time the linking document changes.

Finding the right target
A link can do more than point at an id:

Find it by its fields. A link can find its target through a unique index and check the target’s fields. A bid can require an auction that is open, has not ended, has a reserve price no higher than the bid, and is not owned by the bidder.
Gate who may write. A type can require its writer to be linked to something, such as “only members of this team may post” or “only people with a profile may comment”.
Pick from a list. A value can be required to be one of the entries in a list on another document, like a removal that must name one of a team’s elected members.
Combine targets. One link can accept any of several targets, or require all of them.
Require things of a contract or a key. A link to a contract can require it to be read-only, a certain age, or moderated by an elected team. A link to a key can require the key’s purpose, and that it is limited to this contract.

A document can carry up to 256 links.

Rules every node enforces
A document type can now state rules about its own fields, and every write must satisfy them. Rules can do arithmetic, compare values and text, check lists, test whether fields are present, and combine all of that with and, or, not and if-then. They can also read three things beyond the document itself:

Totals of other documents, such as “at most 10 listings per seller” or “pledges stay within the goal”.
The previous version of the document, such as “a closed order stays closed” or “a counter never goes down”.
The document it links to, such as “a bid must meet the auction’s reserve price”.

"propertyConstraints": {
"depositCoversOrder": {
"lessThanOrEqual": [{ "multiply": [{ "add": ["price", "fee"] }, "quantity"] }, "deposit"]
}
}

A type can have up to 16 rules. The arithmetic is exact, so an overflow or a division by zero refuses the write instead of quietly rounding.

Rules for deleting
The same kind of rules can decide when an owner may delete a document. A poll can refuse to be deleted while any vote still points at it. A document can also be made deletable only when something else uses it up, which is how a “reserve, then claim” flow works.

Fields that freeze
A contract can now make fields unchangeable, either from the moment a document is created or once a condition holds. A post’s author never changes, its text can be edited for the first five minutes, and its body freezes once it is published.

Lists, sizes and generated values

Lists. A property can be a typed list of up to 1,024 numbers, strings, identifiers or byte values, such as up to 10 unique tags on a post.
“Not yourself”. An identifier can be required to differ from another one, or from the owner: you cannot delegate to yourself, and a buyer cannot be the seller.
Byte limits. A text field can be capped in bytes as well as characters, which matters for emoji and other wide characters.
Generated values. The network can fill in a field from another one, for example a lowercase, look-alike-safe version of a username, so “Bob” and “B0B” cannot both be taken.
Shorter schemas. Identifiers and fixed-size byte fields have short spellings.

Adding a required field later
A contract update can now add a required field. Documents written before the update stay valid without it, because every document records which version of the contract it was written under.

Documents that expire
A document type can set a lifetime, from one hour to one year, after which the network deletes its documents on its own. Stories, invitations and offers no longer need someone to clean them up, and they cost much less to store, as described under earning.

Claiming names fairly
Any contract can now run a “commit, then reveal” flow, the same idea DPNS uses for usernames. You first publish a hidden commitment to a value, then reveal it in a later block. Watchers cannot see the value in time to copy it, and if several people commit to the same value, only the earliest valid commitment can reveal. This stops front-running for names, handles and anything else first-come, first-served.

Encryption declared in the contract
A contract can declare exactly how a field is encrypted: to whom, with which keys, and with which scheme. Wallets read the recipe straight from the contract. This is how private join requests for moderation teams and App Connect logins work.

For contract authors
A few authoring rules change at protocol 14:

Property and document type names can no longer contain a -.
Reordering the indexes in a contract update is now allowed.
A contract update cannot change an integer’s size or sign.
Transient values are never stored, even on a replace.
Unsigned integers now sort by value in indexes. The activation block rewrites existing index keys to match.

Top lists, trends and feeds, with proofs
Social apps count and rank things all day. In 5.0 they can do it on chain, and every answer comes with a proof that a light client can check against the network itself, without trusting the node it asked.

Top lists
A ranked index keeps groups in order by their count, sum or average. “Top 10 posts by likes”, “best-rated stores” or “hashtags with more than 100 posts” read just the entries they return, so the proof stays small however many groups exist. Queries use plain ORDER BY and HAVING, up to 100 results at a time.

Trending windows
A time-range index sorts documents into rolling windows, such as the last hour starting every 15 minutes, or each day. That is what trending lists and “today’s leaderboard” need. A window can also be unique, which gives rules like “one post per day”. Old windows can be dropped automatically after up to a week.

Number bands
The same windows work over any number, so an app can group listings by price band or players by score band.

Likes and follows that cost less
Some documents are really just entries in an index: a like, a follow, a bookmark. 5.0 lets a type store only those index entries, with no full document, which cuts the storage of a small document by more than half. Such types can keep a counter per group instead of an entry per document, start counters at zero so a post with no likes still ranks, and keep an entry in a trending window even after an unlike.

Indexing what a document links to
An index can include a value from the document a link points at, without storing it twice. Indexing replies by the post’s author answers “every reply to my posts” directly.

Hashtags and mentions
A list property can be indexed element by element, so a post appears once under each of its tags. “Posts tagged dash, newest first”, “posts that mention me” and “most used hashtags” all become simple queries.

“Posts I liked” in one proof
A chained query answers a question that spans two document types, like “the posts I liked”, in a single request with a single proof. The client checks the join itself, so a node cannot steer the result.

A whole feed card in one request
A composite query loads a page together with everything it needs, such as quoted posts, counts, profiles, names and whether you liked each post, under one merged proof. Yappr’s home feed is built on these.

Smaller improvements

Queries can use more than one IN clause on consecutive index fields.
Anyone can now list every contract on Platform, in pages, and check the latest version of up to 100 contracts in one proved request.
A range query can prove that a range is empty.

Keys and login
Giving an app a key used to mean trusting it with a lot. 5.0 makes keys much narrower, and adds a proper way to log in to apps with your wallet.

Keys limited to one app
An authentication key can now be bound to a single contract, a single document type, or a contract group. A bound key can only sign document and token actions inside its bounds. A key you give a social app can post and like on that app, and nothing else.

Budgets and expiry dates
A key can also carry a spending budget in credits and an expiry date. Once the budget is spent or the date has passed, the network refuses the key. A game could get a key that can spend at most 0.1 Dash and stops working after 30 days. You can later raise a key’s budget or extend its expiry, and anyone can check, with a proof, how much a key has left. To restrict a key further, you disable it.

Contract groups
An identity can now bundle several contracts, document types and tokens into a contract group, for example all the contracts that make up one app. A key bound to the group covers the whole app. Groups can only grow, and anyone can read what is in a group.

App Connect: log in with your wallet
App Connect is a new system contract for logging in to apps with your wallet:

The app asks to connect.
You approve in your wallet, and choose what the app may do: which contract, how much it may spend, and for how long.
The wallet registers those limited keys on your identity and posts them for the app, encrypted so only the app can read them.
The app picks up its keys, checks they are live, and you are logged in. Your wallet’s own keys never leave the wallet.

The Swift example app already uses the same idea to log a browser in over Bluetooth: you check a pairing code on both screens, choose the key’s lifetime and budget, and your phone hands the browser a limited key directly.

Key fixes
Contract-level encryption and decryption keys that always point at an identity’s latest key now register correctly. Before 5.0, registering one failed.

Names and votes
Contested usernames, the ones masternodes vote on, get cheaper, fairer and harder to abuse.

Cheaper names and votes
The fund to contest a name halves, from 0.2 Dash to 0.1 Dash. A masternode vote costs 80% less, down from 0.0001 Dash to 0.00002 Dash.

Ties go to the earliest
When a contest ends in a tie, the contender who entered first now wins. Before 5.0 the latest one did. This applies to every contest that ends after protocol 14 is live.

No flooding
A contest can hold at most 1,000 contenders, and joining gets more expensive as it fills up. The fund doubles once a contest has 250 contenders, and again every 50 after that:

Contenders already in
Fund to join a name contest

0 to 249
0.1 Dash

250 to 299
0.2 Dash

300 to 349
0.4 Dash

700 to 749
102.4 Dash

950 to 999
3,276.8 Dash

A contender states the most it is willing to pay and is charged the current amount. The final count of a contest now covers every contender.

Contests that always have a winner
A contested index can now be declared without a Lock option, so the contest always ends with a winner, and a lone contender wins as soon as the join window closes. Usernames keep the Lock option. Moderation elections use the new kind.

Cleaner votes
Identifiers among a contest’s values are now stored one way, so writing the same name two ways cannot split one contest into two. And the SDKs now read how many contenders a contest has and set the fund to pay automatically.

Under the hood
Not everything in 5.0 is a feature you will see. These changes make Platform safer, steadier and ready for what comes next.

Smarter withdrawal limits
The daily withdrawal limit used to be a flat 2,000 Dash. It is now 15% of all the credits Platform held a day earlier, and never less than 500 Dash, so it grows with Platform. Withdrawals also have to fit a second limit tied to Dash Core’s credit pool, which never drops below 1,500 Dash. For the first day after activation, the old 2,000 Dash limit still applies.

Withdrawals too small to send
A withdrawal so small that Core can never send it used to be retried forever. It now ends with a clear failed status. Those credits are not refunded.

Shielded credits
Credits can now move straight from an identity into the shielded pool, and from the shielded pool back into an existing identity.

Dash Core 24
5.0 understands Dash Core 24’s new blocks, transactions and masternode types. Protocol 14 needs to be active on mainnet before Core 24’s new rules activate there, which is one more reason to upgrade on time.

GroveDB 6.1
Platform moves to GroveDB 6.1, its storage engine, and fee estimates now size counting and summing trees correctly.

System contract updates

DashPay profiles can carry a Core payment address, a Platform payment address and a shielded address.
Withdrawals gains the failed status.
Token History records once-per-identity claims.
App Connect and Moderation Charters are new.

How documents are stored
Documents are now stored in a new format that records which version of the contract each one was written under, which is what makes adding required fields later possible. New document ids also include a number tied to the transaction that creates them, so every id can only ever be used once. The 5.0 SDKs handle both.

What happens on the activation block
The first block of protocol 14 does some one-time work: it rewrites unsigned number index keys, adds App Connect and Moderation Charters, updates DashPay, Withdrawals and Token History, records a version for every existing contract, and creates the storage the new features need.

Hardening
5.0 also carries a long list of fixes and hardening from audits, testing and testnet. The node also stops rewriting its entire saved state on every block, which makes it lighter to run.

What comes after 5.0
Some things are deliberately not in 5.0. Replacing a seated moderation team through a challenge vote, amending a team’s charter, and appeals all come in later versions. On Yappr, mainnet opens for posting once the network has elected its first moderation team, which at the earliest is about eleven days after protocol 14 goes live.

Let’s ship it!

Samuel

Bitcoin at $82,000, ETH, XRP, Dogecoin Jump 3% on Growing ETF Flows

9 hours ago

Cross-border payments startup Mural, founded in 2022 by former Palantir engineers Sinclair Toffa and Chris Fernandes, has announced the completion of a $15 million Series A funding round led by Tether, with participation from North Island Ventures. Following this financing, Mural’s total funding stands at $28 million, while its specific valuation remains undisclosed. Mural provides enterprises with a unified payment management platform that supports managing U.S. dollars, local currencies, and stablecoins in a single account, helping payroll providers, software companies, and fintech firms integrate banks, payment service providers, and cross-border settlement channels. The company plans to use the proceeds from this round to further develop its platform. Tether CEO Paolo Ardoino stated that the investment also targets the financial service needs of AI agents. As AI agents gradually participate in financial activities, they require payment systems that operate 24/7 and cover global markets. According to an Alvarez & Marsal report, stablecoin payments totaled approximately $400 billion in the first eight months of 2026. Chainalysis data shows that between July 2025 and June 2026, stablecoin cross-border fund flows reached $220 billion, a nearly 78% year-on-year increase.

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Tether, the company behind the world’s most widely used stablecoin, has put money into AI chip developer Tenstorrent. The stated goal is to increase access to AI computing infrastructure.

The investment came through Tether Capital, the firm’s investment branch. It landed as part of a much larger financing event, and the numbers attached to that event are hard to ignore.

A $1.5 billion round at a $6.2 billion valuation On October 19, 2026, Tenstorrent announced it had completed a $1.5 billion Series E funding round. The deal set the company’s post-money valuation at $6.2 billion.

The jump is steep. Tenstorrent’s Series D in December 2024 valued the company at $2 billion, so the new figure more than doubles it.

Trace Capital and Innovation X led the raise. A long list of other financial firms joined, including ARK Invest and Fidelity Management, with Tether Capital among the notable participants.

What the money is for Tenstorrent plans to use the capital in three main ways. It will scale production of its Galaxy servers, push forward on AI and CPU technology development, and expand its commercial operations globally.

The Galaxy servers are the headline product. Each one packs dozens of Tenstorrent’s AI chips into a single system.

Tenstorrent already counts major clients such as Samsung and LG among its users.

Why Tether is buying in The investment fits a broader push at Tether toward decentralizing AI computing power. The idea is to reduce dependence on the handful of major cloud providers that currently control much of the world’s AI capacity.

What this means for the AI and crypto crossover The most direct read is that Tether is becoming an active capital allocator in technology well beyond payments. A stake in a fast-growing AI hardware company is a bet on infrastructure, not on tokens.

For Tenstorrent, the cap table tells its own story. Pairing long-standing asset managers like Fidelity with growth-focused investors like ARK Invest, and adding a crypto-native backer on top, gives the company a wide mix of capital sources.

What to watch next: how quickly Tenstorrent scales Galaxy server output, whether new enterprise customers join Samsung and LG, and whether Tether Capital continues adding AI infrastructure names to its portfolio.

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