Track market-moving stories before they get noisy

Dogecoin (DOGE) price is up today by 1.23% today, August 1, to trade at $0.070 at the time of writing. The gains come after DOGE ETFs recorded their first monthly outflows since they started trading in November 2025.

Spot Dogecoin ETFs Record $525K Outflows Since Launch Data from SoSoValue shows that Dogecoin ETFs had $525,980 in outflows in July 2026. This marks the first time that the ETF have recorded outflows since they began trading in November 2025 after getting regulatory approval from the SEC.

Dogecoin ETFs now have total net assets of $9.96 million, with the total cumulative inflows coming in at $12 million.

Dogecoin Spot ETFs The Grayscale Dogecoin ETF is the biggest one with net assets of $6.83 million, and it was the only one that recorded flows in July 2026

Dogecoin was also the only other ETF, apart from Hyperliquid (HYPE), to post net outflows in July 2026.  DOGE ETFs saw only one day of inflows in July 2025, per an earlier report by CoinGape.

Dogecoin Price Prediction as Weekly SMA Death Cross Emerges The weekly chart for Dogecoin price shows that it has created a death cross with the 50-week SMA moving below the 200-week SMA.

This cross usually suggests that bears have tightened their grip and the price of Dogecoin could move lower.

The MACD line that is negative also supports a bearish long-term Dogecoin price forecast.

Dogecoin price could drop to the October 2023 low of $0.056 if it closes below the support of $0.070.

This drop could come from panic selling, considering that it is the first time that Dogecoin price is forming a death cross on its weekly chart.

DOGE Price Chart The drop to $0.056 could also occur because of an increase in selling pressure due to escalating geopolitical tensions after President Trump threatened to launch “very hard strikes” on Iran.

Derivatives Market Analysis Data from Coinglass shows that the open interest on Dogecoin has increased by 0.06% to $1.08 billion.

Despite this increase, Dogecoin’s OI remains six times lower than the $6 billion reported in September 2025. This drop suggests a drop in the speculative demand for DOGE futures positions.

Dogecoin Futures Data However, short sellers continue to increase their bets that the price of Dogecoin will keep dropping after the long/short ratio dropped to 0.82.

Still, long buyers who are betting against the downtrend continue to count losses after long liquidations reached $3.6 million, higher than the $22,000 in short positions.

Stellar XLM has strengthened its position as a leading blockchain for tokenized real-world assets, with the network now hosting $3.06 billion in such assets across 70 products. This growth firmly places Stellar XLM as the second-largest blockchain for tokenized assets, trailing only Ethereum, based on data shared by wallet platform Scopuly.

Stablecoin growth and asset accumulationThe latest figures reflect deepening institutional interest in Stellar as a payment and tokenization network. Over the past month, Scopuly observed a 5.88% increase in tokenized real-world assets on the network, highlighting robust ongoing adoption from asset issuers and stablecoin providers.

According to Scopuly, Stellar’s stablecoin supply expanded by 38.3% during the same period, marking another significant milestone. This rise comes amid growing demand from issuers leveraging Stellar’s infrastructure for both retail and institutional use cases.

Monthly transaction volume for stablecoins on Stellar climbed to $6.45 billion, underlining the network’s role as a major payment rail within the digital asset ecosystem. Despite this increase in stablecoin activity, total real-world asset transfer volume dropped to $386 million during the same interval, indicating a shift towards asset accumulation versus immediate trading or transfers.

Scopuly identified this pattern as characteristic of Stellar’s current development phase, noting that assets are building up on the blockchain faster than they are being moved or exchanged. The platform expects the next strategic shift to focus on turning these holdings into higher transaction activity as institutional infrastructure projects further mature.

Tokenized real-world assets on Stellar XLM have reached $3.06 billion across 70 products, positioning the blockchain as the second-largest for real-world asset tokenization after Ethereum. Monthly stablecoin volume also achieved $6.45 billion amid rising issuance from major providers.

Upcoming integrations, such as with Depository Trust and Clearing Corporation, are expected to drive more asset flow on Stellar. Meanwhile, the network is becoming increasingly attractive to tokenized treasury operators and stablecoin issuers aiming for efficient settlement solutions.

For those closely watching market data and technical patterns, new all-in-one tools like CryptoAppsy provide a comprehensive user experience by merging real-time prices, detailed charts, and portfolio management. Investors can react instantly with smart price alerts, filter news for specific coins, explore new altcoin launches, and monitor macroeconomic data including Fed decisions—all within a single screen environment, allowing them to stay at the forefront of market movements.

Technical outlook for XLM priceOn the technical analysis front, crypto trader CG_trades presented an alternative scenario for XLM price movement based on Elliott Wave theory. The analysis suggests that XLM is tracing a multi-year macro inverse ABC cycle. Under this framework, wave A concluded at the 2017 peak, with XLM currently residing in an ascending triangle formation as part of wave B.

This chart pattern reflects a lengthy accumulation stage before potential upward movement. According to CG_trades, wave E could finish near the 2020 trendline at a price range of $0.11 to $0.12. Should XLM rally after completing wave E, the next target for cycle wave C may extend between $8.36 and $32, offering a wide potential range for future appreciation.

The current technical setup sees XLM forming an ascending triangle as part of a broader macro cycle. If the price maintains support above the 2020 trendline, longer-term targets between $8.36 and $32 are possible, pending a reversal after wave E completes.

This technical perspective gives an alternative to the fundamentally driven outlook from Scopuly, with one focusing on network usage and asset value while the other leans on previous market cycles and pattern recognition. Both approaches highlight varying, potentially complementary views as analysts assess Stellar XLM’s future role in the blockchain sector.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Aug 1, 2026, 6:09 a.m.

2 min read

XRP Ledger upgrade brings back features once pulled over critical bugs. (Kevin Ku/Unsplash/Modified by CoinDesk)Summary

The XRP Ledger’s upcoming xrpld 3.3.0 release will ask validators to approve five amendments, including revised versions of previously flawed Batch and Permission Delegation features.Batch would allow up to eight cross-account transactions to execute atomically, while Permission Delegation would let institutions grant narrowly scoped signing authority without exposing full control.New amendments—Confidential MPT, Sponsored Fees and Reserves, and Dynamic MPT—aim to enable private tokenized-asset activity, let institutions sponsor users’ XRP costs, and make certain token properties adjustable without full migrations, all still requiring 80% validator approval for two weeks.The XRP Ledger's next software release will put five new features in front of validators, two of which were pulled from the network after security researchers found flaws serious enough to warrant emergency action.

Jazzi Cooper, head of product at RippleX, said Friday that xrpld 3.3.0 is expected next week carrying Confidential MPT, Batch, Permission Delegation, Sponsored Fees and Reserves, and Dynamic MPT.

XRPL has already proven it can support tokenized assets at scale. Now it’s time to put these assets to use: global transfers, trading, collateralizing, and settling.

The upcoming release of xrpld 3.3.0 includes five amendments that move XRPL significantly closer to that goal.…

— Jazzi Cooper (@jazzicoop) July 31, 2026 Amendments are proposed protocol changes that only take effect once at least 80% of trusted validators back them for two consecutive weeks, a threshold designed so the network rather than Ripple decides what ships.

The Batch and Permission Delegation amendments have been through that process before and failed it.

Batch, which lets up to eight transactions across different accounts execute together so that either all succeed or none do, reached its voting phase in February.

Security researcher Pranamya Keshkamat and the firm Cantina had then found a flaw in how the amendment validated signatures that would have let an attacker execute transactions from any account without holding its keys.

Validators (entities that supply their resources to run and maintain a network) were advised to reject it, and an emergency server release marked it unsupported to prevent activation. No funds were lost, because it never reached the main network.

Permission Delegation, which lets an institution grant another account narrowly scoped authority without handing over full signing power, was disclosed as vulnerable in September 2025 and disabled.

The bug allowed one account to charge transaction fees to another and potentially drain its balance. The ledger's documentation has listed both amendments as obsolete since, to be replaced by revised versions.

(Shaurya Malwa/CoinDesk)The other three are new. Confidential MPT combines zero-knowledge proofs, which let someone prove a statement is true without revealing the underlying data, with elliptic-curve encryption, so that balances and transfer amounts on Multi-Purpose

Tokens stay private while auditors or regulators can still verify them when required.

Sponsored Fees and Reserves lets a bank or platform cover another account's XRP fees and reserve requirement, removing the need for every user to acquire XRP before transacting.

Lastly, Dynamic MPT lets an issuer specify at creation which token properties can be changed later, avoiding a full migration to a new token when fees or metadata need updating.

The release marks a shift from where the ledger stood two weeks ago. In mid-July, all five sat in development on the XRP Ledger's amendment tracker, and what validators could actually vote on was a set of bug-fix bundles covering the lending protocol, single-asset vaults, the permissioned exchange and multi-purpose tokens.

Approval is not automatic. The lending protocol and single-asset vault amendments have each drawn roughly a third of validator support against the 80% they need, and Batch already has a record of being voted down.

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The Evolution of the Crypto CEX Landscape: A Case Study on Binance

The Evolution of the Crypto CEX Landscape: A Case Study on Binance

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Jun 29, 2026

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Why it matters:

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Altcoins

1 August 2026 | 09:43 XRP held near $1.06 on August 1, with price still confined between $1.05 support and resistance near $1.11 as Binance open interest fell to a 15-month low.

Key Takeaways Binance open interest fell to approximately $186 million, its lowest since April 2025. The lighter derivatives market reduces liquidation risk but provides little indication of direction. The expected xrpld 3.3.0 release includes five amendments that will still require validator approval. XRP trades near $1.06 after breaking below its rising triangle and finding support around $1.05.

Our July 28 analysis identified $1.05 as the next important test after price lost the triangle’s lower boundary. Buyers defended the level, but the rebound stopped below both the broken trendline and the 50-day simple moving average.

Price has remained in that narrow area since then, without retesting $1.05 or making a serious attempt to recover $1.11.

Daily technical price chart showing XRP moving sideways. Open Interest Has Reset While Price Stalls According to a CryptoQuant analysis, open interest in Binance’s stablecoin-margined XRP contracts fell to approximately $186 million on July 31, its lowest level since April 2025.

Bybit held roughly $229 million, while OKX accounted for another $49 million. Binance and Bybit represented nearly 89% of the combined open interest across the three exchanges.

CryptoQuant chart tracking XRP multi-exchange open interest across multiple derivatives platforms. Open interest measures the value of futures positions that remain active. The current reading shows that less leveraged capital is committed to XRP than during the major expansion phases of 2025.

With fewer positions in the market, XRP is less exposed to a large chain of forced liquidations. There is also less speculative pressure capable of quickly driving price beyond either side of the current range.

The data does not reveal whether the next expansion will favor buyers or sellers. Funding rates, volume, liquidations and spot demand are still needed to determine which side is becoming more active.

xrpld 3.3.0 Brings Five Amendments Back Into Focus The XRP Ledger community is also watching the expected release of xrpld 3.3.0.

The release is expected to introduce five proposed amendments for validator consideration:

Confidential MPT: Private balances and transfers for Multi-Purpose Tokens. Batch: Multiple transactions processed together as one operation. Permission Delegation: Controlled account permissions assigned to another address. Sponsored Fees and Reserves: Third parties covering users’ ledger costs. Dynamic MPT: Selected token properties that issuers can modify. Batch and Permission Delegation are revised versions of amendments withdrawn after earlier security reviews.

The original Batch amendment contained a signature-validation flaw that could have allowed unauthorized transactions. Permission Delegation was withdrawn after researchers found that an improperly signed transaction could charge fees to another account.

Neither flaw reached the live network. Their return in revised form reflects additional security work rather than the introduction of five entirely new features.

Jazzi Cooper, head of product at RippleX, posted on X that the amendments are intended to expand how tokenized assets can be transferred, traded, used as collateral and settled on XRPL.

XRPL has already proven it can support tokenized assets at scale. Now it’s time to put these assets to use: global transfers, trading, collateralizing, and settling.

The upcoming release of xrpld 3.3.0 includes five amendments that move XRPL significantly closer to that goal.…

— Jazzi Cooper (@jazzicoop) July 31, 2026

The software release would not activate them immediately. Each amendment must receive support from more than 80% of trusted validators and maintain that threshold for two weeks.

The release may increase developer and community activity, but its effect on XRP will depend on whether that attention produces new market demand.

The Chart Still Comes Down to $1.05 and $1.11 Resistance sits near $1.11, where the 50-day SMA at approximately $1.105 meets the former lower boundary of the rising triangle.

A move into that area would recover some of the decline, but the July breakdown would remain relevant until XRP closes above both the moving average and the broken trendline.

Support remains near $1.05, which has held since July 2 and stopped the latest decline after XRP left the triangle. A daily close beneath it would expose the June 26 low near $1.01.

For now, XRP remains between those levels. Open interest shows limited derivatives participation, while the expected xrpld release provides a scheduled network event rather than a confirmed price catalyst.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Technical levels, open interest and protocol developments do not guarantee future price performance. Methodology: The analysis uses the XRP/USD daily Coinbase chart dated August 1, 2026, including the 50-day SMA and triangle structure; CryptoQuant stablecoin-margined open-interest data through July 31; the July 28 Coindoo analysis; and official XRP Ledger documentation and vulnerability disclosures. Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

The XRP Ledger quietly crossed a significant milestone in the first six months of 2026, adding 489,739 new accounts between January 1 and June 30. That pushed the network’s total account count from 7,913,554 to 8,403,293, and by July active accounts had climbed past 8.42 million.

What’s actually driving the growth Ripple’s RLUSD stablecoin, which runs natively on the XRP Ledger, saw its circulating supply on the network grow to approximately $873 million in the first half of the year. Every RLUSD transaction settles in XRP fees, meaning more stablecoin volume creates structural demand for XRP as a utility token.

According to Messari, XRPL transaction volume exceeded 35% growth quarter-over-quarter in Q1 2026.

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XRP held on exchanges fell to a seven-year low of 2.748 billion tokens, a signal that holders are moving assets into self-custody or longer-term positions. Spot ETF inflows for XRP reached $1.5 billion on a cumulative basis.

The price divergence problem XRP traded near $1.07 in July 2026, down roughly 41% year-to-date. For a network posting its strongest first-half account growth in recent memory, that’s a notable disconnect.

When fewer tokens sit on exchanges, the available float for buyers shrinks. Given that $1.5 billion in cumulative ETF inflows has not yet translated into price recovery, either those inflows are being offset by other selling pressure, or the price has further room to reflect the demand.

RLUSD’s growth adds a structural element: a stablecoin with nearly $873 million in circulating supply on a single chain generates consistent, recurring transaction fee demand. As RLUSD scales further, the fee-burn mechanic means more XRP consumed per unit of economic activity on the ledger.

Context and what to watch The XRP Ledger has been operating since 2012. The 489,739 new accounts added in six months represents a meaningful acceleration in the context of a network that took years to reach its first million accounts.

Three dynamics are worth tracking: RLUSD’s supply trajectory as it approaches $1 billion in circulating supply; the continued decline in exchange-held XRP, which narrowed the available float to 2.748 billion tokens; and the relationship between the $1.5 billion in cumulative spot ETF inflows and a price that remains down 41% year-to-date.

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

MetronomeDAO says 6,367 msETH and 4.57 million msUSD lack backing after years of "unbacked float" accumulated through Chainlink price-feed latency; the treasury has staged $34 million in defensive positions to close the gap.

MetronomeDAO disclosed that roughly 6,367 msETH and 4.57 million msUSD in circulation, about $15.7 million at current prices, have no collateral behind them, after trading bots spent months exploiting delayed price data in the protocol's swap feature.

The hole equals about 31% of all msETH and 16% of all msUSD in existence. If the tokens fall in price and the gap gets realized, the losses land on liquidity providers, the users who deposited msETH and msUSD into trading pools on exchanges like Curve and Aerodrome to earn fees, according to a post-mortem published July 30.

Metronome said the damage is confined to its swap module, and that its Morpho lending markets, MetBasis product, and the core minting protocol still work normally.

msETH is down 25% in the last 24 hours to $1,378, while trading volume jumped roughly ninefold to $51.7 million, per CoinGecko. msUSD is trading 25% below $1, at $0.737.

Metronome Synth holds $10 million in TVL across Ethereum, Base, and Optimism, per DefiLlama, down from $17.56 million on Thursday.

Bots Trading Against Stale PricesMetronome Synth is a protocol from 2023 that lets users deposit collateral — ETH, USDC, WBTC, and others — and mint synthetic tokens against it: msETH, which tracks the price of ETH, and msUSD, which tracks the dollar. The system's core promise is that every synth in circulation is matched by a debt position, meaning someone somewhere owes that token back to the protocol and has posted more than its value in collateral. That one-to-one match between tokens and debt is what "backing" means here.

The protocol also runs a swap module, which lets traders exchange msETH for msUSD and back with zero slippage. To know how many msUSD one msETH is worth, the module reads the ETH/USD price from Chainlink, the dominant provider of oracles — services that feed real-world prices onto blockchains.

The problem, according to the post mortem, is that Chainlink’s feed doesn’t update continuously. It pushes a new price on-chain only when the market moves past a set threshold — 0.15% on Base, 0.5% on Ethereum — or after a timed interval. Between updates, the on-chain price can trail the real market by minutes.

Trading bots watched both prices at once and swapped whenever the gap favored them, buying whichever synth the stale oracle was underpricing. Each of those trades handed the bot more value than it gave the protocol, and the difference piled up as what Metronome calls "unbacked float" — synths in circulation with no debt position behind them.

A Fee Cushion Too ThinMetronome knew stale prices were a risk and charged swap fees meant to absorb it: 0.45% per swap on Base, three times the feed's deviation threshold, and 0.55% on Ethereum. The assumption was that no bot could profit from a price gap smaller than the fee.

That assumption failed because the feed spent far longer outside its accuracy band than the design anticipated. The team said it re-priced all 241,292 swaps in the protocol's history — $3.6 billion in volume across Ethereum, Optimism, and Base — against the exact oracle reading at each moment of execution. On Base, the ETH/USD feed has been outside its 0.15% band 18.5% of all minutes since Metronome launched there, per the protocol's full oracle report, and the feed's response time deteriorated sharply in 2026: March through July was the worst five-month stretch in the protocol's history. The cause was "the latency of the Chainlink price at swap execution, a variable which Metronome's fee design did not properly account for, and one that particularly deteriorated on Base," the post-mortem reads.

Metronome said it has shared the dataset with Chainlink and is "in active discussion with them." Chainlink had not publicly responded at the time of writing.

The team noticed backing slipping in Q1 2026 and worked through suspected causes for months. The diagnosis was delayed in April and May, when the $292 million Kelp DAO bridge exploit forced Metronome to switch off synth operations over concerns about LayerZero, the cross-chain messaging network its synths use to move between blockchains. By June, with systems back online and the gap still growing, the oracle was the only explanation left.

Recovery PlanThe protocol is functioning but wounded, and its recovery plan runs on treasury money rather than user haircuts.

Swapping is effectively paused: fees on all synth pairs have been raised high enough to keep volume minimal until an architecture upgrade is complete, and the protocol can now charge different fees in each direction to defend against one-sided flow.

Against a potential run, the treasury has borrowed and looped $34 million notional in synthetic assets — positions that profit if the synths fall below their reference price — plus about $6.5 million in liquidity it calls "last-to-leave": protocol-owned pool deposits that will not exit until backing is restored, so regular liquidity providers aren't racing the treasury for the door.

If msETH or msUSD drop roughly 30%, Metronome said, those positions throw off enough profit to buy back and burn every unbacked token and restore full backing.

"That is the point at which current treasury positions are sufficient to fully settle the gap, not a guarantee that price cannot move further," the team wrote.

Closing the GapAbsent a crash, the gap closes more slowly: Metronome says more than $51 million in outstanding debt keeps generating interest, and that revenue will fund gradual buybacks and burns until every synth is backed again.

Talks with partners may add capital to the effort. Liquidity providers face a choice, and no forced losses: sell their synths into the market now, or stay in the pools, keep earning yield, and wait for the peg to firm up. MET holders are unaffected, per the team, with token buybacks and esMET distributions proceeding as planned. Backing data is published on a Dune dashboard.

Before the defensive positions were built, "synthetic LPs were roughly 30% unbacked globally, and Metronome had been paying to incentivize unbacked, unproductive synthetic assets in circulation," the post-mortem reads.

Metronome has absorbed pool-level losses before: in July 2023, the protocol's msETH-ETH Curve pool was drained in the Vyper compiler exploit that hit multiple Curve pools.

Cathie Wood’s ARK Invest bought more Circle Internet Group (NYSE:CRCL) shares. The buy move follows the stablecoin issuer’s major regulatory breakthrough in New York.

Cathie Wood’s ARK Snaps Up Circle Stock Circle stock closed at $62.61, down $1.63, or 2.54%, on Friday, July 31. Nearly $6.83 million in nearly 109,129 Circle shares were acquired by ARK based on the closing price. The stock purchases were made through ARKK, ARKW and ARKF with 77,103, 22,238 and 9,788 shares of CRCL stock bought respectively.

Cathie Wood’s CRCL stock purchase came on the heels of  the New York Department of Financial Services (NYDFS) granting a limited-purpose trust charter to Circle Internet Trust Company LLC (Circle New York Trust).

Besides Circle shares, ARK bought 298,243 CoreWeave shares, 12,512 shares of the 3iQ Solana Staking ETF, 7,500 Pony AI shares, and 2,700 Kodiak AI shares. The Cathie Wood-led firm also cut down its stakes in Shopify, Cloudflare, CrowdStrike, Snowflake, 10x Genomics, Komatsu, Brera Holdings, Iridium Communications, and Figma.

Earlier, Cathie Wood raked in millions worth of SpaceX and Tesla shares alongside Circle.

About The NYDFS License For USDC The new charter enhances Circle’s regulatory framework. It merges state regulation of the issuance of USDCs with the federal trust powers the company acquired earlier this month from the U.S. Department of the Treasury’s Office of the Comptroller of the Currency (OCC).

Moreover, Chief Executive Officer Jeremy Allaire called the approval a long-held goal. It helps put USDC within a “strong, respected framework as digital dollars become central to the global financial system,” Allaire remarked.

The New York trust company will be given fiduciary power, Circle said. It will also be permitted to use New York banking law to engage in virtual currency business. The company intends to slowly transition to the USDC issuance on the company’s New York entity. It will retain the custody and collateral trustee services via its federally chartered national trust bank.

Moreover, the approval from NYDFS follows Circle’s final OCC authorization. The previous approval saw a 10% rise in CRCL shares on July 10. However, the stock has witnessed a significant decline since then.

For tokenized stock trading, visit our page on Best Platforms To Trade Tokenized Stocks.

Anza, a developer-focused company advancing the Solana blockchain platform, has announced a new cryptographic proposal named Quantumglow. The initiative aims to enhance Solana’s security by making its network resilient against potential quantum computing threats, while maintaining its signature speed and execution capacity.

Introducing Quantumglow for post-quantum securityQuantumglow will provide an upgrade to Solana’s current Alpenglow protocol, which forms the consensus and execution layer of the Solana blockchain. Anza stated that this adaptation will allow Solana to support post-quantum signature schemes without compromising the efficiency of reaching consensus on the network.

The developers at Anza have emphasized that this move is a proactive response to growing concerns about future cyber-attacks that could potentially exploit cryptographic vulnerabilities, particularly those stemming from ECDSA and Ed25519 keys, with the advent of quantum computers.

Quantumglow has been created to introduce quantum-resistant cryptography to Solana’s network, ensuring that post-quantum signature schemes can be adopted while preserving Solana’s speed and performance.

The project remains in the research phase, with no specific release date announced. Anza aims to ensure that Solana stays ahead of potential regulatory changes affecting cryptographic standards, reflecting a broader trend in the blockchain industry toward enhancing resilience ahead of attempted standardization.

Mini dictionary: Alpenglow, Solana’s consensus and execution layer, enables the decentralized network to process and validate transactions rapidly, underpinning Solana’s reputation for high throughput.

Impact on validators, developers, and the broader ecosystemQuantumglow’s deployment is expected to require extensive adaptation from various participants in the Solana ecosystem. This includes validators, developers, institutions, and exchanges operating on Solana’s blockchain. Validators, responsible for operating the network’s infrastructure, will likely play a key role in implementing the new verification processes introduced by the quantum-resistant protocol.

Supporters claim that integrating quantum-resistant signatures could significantly reduce long-term security risks for Solana. Financial regulators tracking digital asset security may also view this move as evidence that Solana prioritizes network safety in anticipation of future regulatory demands.

Quantumglow reflects an industry-wide push for higher blockchain security as quantum computing capabilities advance, keeping performance intact without delay for post-quantum cryptography.

While some other blockchain protocols have begun exploring quantum-resistant cryptography, Anza’s proposal distinguishes itself by maintaining Solana’s established high-performance standards. As the crypto sector anticipates future advances in quantum computing, Solana and its developer partners aim to set a precedent for robust and scalable security measures.

Further details regarding the rollout and technical specifications of Quantumglow are expected as research and development progress continues within Anza’s teams.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

https://www.economist.com/finance-and-economics/2025/12/04/bitcoin-has-plunged-strategy-inc-is-an-early-victim

Strategy Inc., led by Michael Saylor, has announced a substantial increase in its Bitcoin holdings and a significant rise in STRC issuance this year. The company reported purchasing 48 times more Bitcoin than it has sold, while issuing 300 times more STRC than it has repurchased. This activity comes as Strategy continues its approach of managing liquidity through a combination of stock sales, preferred-share issuance, and selective Bitcoin sales.

Strategy’s recent disclosures indicate a relative slowdown in Bitcoin sales compared to purchases, suggesting a focus on accumulating the cryptocurrency. The company held approximately 843,775 BTC by early July and had repurchased 288,930 STRC shares, maintaining a strong cash reserve. The firm’s capital allocation approach appears to prioritize Bitcoin accumulation and STRC issuance to support its financial strategies.

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Market participants appear to interpret these moves as potentially supportive of STRC price increases, although recent market odds for STRC reaching $100 by December 31 have slipped slightly, now priced at 32% YES, a decrease from previous levels. This reflects uncertainty about whether the company’s aggressive Bitcoin acquisition strategy will translate into the anticipated market outcomes for STRC.

Key Takeaways Strategy Inc.’s Bitcoin purchases appear to exceed its sales significantly, indicating an accumulation-focused approach. The substantial issuance of STRC suggests a strategic use of equity to manage liquidity and support financial operations. Market pricing suggests participants are evaluating the impact of these actions on STRC’s potential to reach $100 by year-end. What to Watch Watch for any future announcements from Strategy Inc. regarding further Bitcoin acquisitions or changes in STRC issuance strategies. Any significant increase in Bitcoin purchases or strategic shifts could influence market perceptions and pricing of STRC. Additionally, updates on the company’s financial performance and strategic direction under Michael Saylor’s leadership may impact market expectations for STRC’s potential price movements.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 32% — — View market → September 30 15% — — View market →

RippleX Head of Product Jazzi Cooper has confirmed that the long-anticipated xrpld 3.3.0 upgrade will be officially released next week, marking a new milestone in the evolution of the XRP Ledger (XRPL).

Key features and institutional boostThis release consolidates five core amendments into a single, comprehensive upgrade package. The update is expected to drive the XRPL ecosystem toward widespread global adoption, extending its use from cross-border payments and trading to collateral management and instant settlement processes.

All new features are subject to independent review and approval by the community’s validators before activation, following the XRPL network’s established procedures. The technical specifications and documentation for these changes are already available on Ripple’s open-source platform.

Ripple has outlined a plan to release additional technical analyses and security reports in the coming weeks. These resources are intended to assist node operators and developers with seamless code integration and to reinforce trust in the protocol’s security and governance.

This upgrade eliminates technical and legal obstacles that have long impeded traditional financial institutions from participating in public blockchains.

Among the most significant changes introduced is support for secure institutional delivery-versus-payment (DvP) settlements. The protocol now enables up to eight transactions to be executed atomically, ensuring that all are processed together or none at all. This all-or-nothing execution is designed to enhance reliability and compliance for institutional transactions.

User experience improvements and real-world asset integrationThe upgrade also seeks to simplify blockchain interactions for everyday users. One of the standout features is fee sponsorship, which permits large institutions to cover network transaction fees on behalf of their clients. As a result, ordinary users are no longer required to buy or store XRP in order to transact on the network.

Regulatory adaptability is addressed by allowing token parameters to be updated dynamically. This capability is aimed at ensuring compliance with evolving legal frameworks, further positioning XRPL as a foundation for the secure circulation of tokenized assets.

Against this technical backdrop, practical solutions are emerging to bridge the crypto and traditional finance sectors. Platforms such as 1stepSwap play a growing role by transferring real-world assets like US company shares and commodities including gold and silver directly onto the blockchain. This approach allows users to access these assets via their wallets without intermediaries or unnecessary complexity.

The most unique aspect of 1stepSwap lies in its ability to scan the market for the best available price at any given instant, giving users the capability to buy and sell leading global stocks rapidly and at optimal rates while diversifying their holdings.

Infrastructure for compliant tokenizationCombined, these technical upgrades and user-centric developments aim to transform XRPL into a robust infrastructure for the compliant movement of tokenized capital. By addressing both the needs of institutional players and simplifying user access, the network positions itself at the frontier of blockchain adoption in regulated financial environments.

The fee-sponsorship capability is set to remove a key barrier for mainstream users, allowing institutions to handle transaction costs and reducing friction for new entrants.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Tether reported Friday that its excess reserves fell by $4.1 billion from the previous quarter amid a sharp year-on-year deterioration in its financial results.

At the end of the first quarter, the stablecoin issuer of USDT said the value of its assets exceeded its liabilities by $8.2 billion. On Friday, that figure had fallen to $4.1 billion.

Tether's most recent financial report also showed a negative $3.2 billion financial result for the first half of the year. That implies the company posted a loss of more than $4 billion, given that in the first quarter it reported $1 billion in net profit.

The company, which is perhaps the most profitable company in crypto, didn't immediately respond to a request for clarification.

Volatile markets The company highlighted it had generated a net operating profit of $1.5 billion during the fiscal period.

"Tether had a great second quarter of 2026 ... despite highly volatile global markets," CEO Paolo Ardoino said on social media. "USDT user base continued to grow, reaching the new all-time-high of [more than 650 million]."

In its Q2 release, Tether emphasized “net operating profit” rather than net profit. Net operating profit generally excludes unrealized gains or losses caused by changes in the value of assets such as bitcoin and gold. Last year, Tether reported $4.9 billion in net profit.

Like leading BTC treasury Strategy, Tether marks its bitcoin holdings to market, meaning price declines reduce their reported value.

The value of Tether’s bitcoin and precious-metals holdings fell during the quarter. Its bitcoin position declined to $5.8 billion from $6.6 billion in the previous quarter. Its precious-metals position, consisting of physical gold, fell to $18.8 billion from $19.8 billion, even though Tether added 14 tons of gold.

Tether did not disclose what drove the remainder of its negative financial result. Bitcoin and gold both shed more than 10% of their price during the second quarter.

The company also reported that its secured-lending exposure declined by $2.4 billion.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Some Coinbase users found themselves in a holding pattern on July 31 when the exchange flagged delays affecting MultiversX (EGLD) transactions. Sending and receiving EGLD tokens hit a bottleneck, leaving a subset of users temporarily unable to move their funds on and off the platform.

Buying, selling, and all fiat-related operations continued working just fine throughout the disruption.

What happened and how fast it got fixed Coinbase’s investigation into the issue kicked off around 15:47 PDT. The problem was narrowly scoped to EGLD network transactions, meaning only users trying to send or receive MultiversX tokens were affected.

The engineering team identified the root cause and deployed a fix within hours on the same day. Monitoring after the fix confirmed that normal operations had resumed, and the issue was marked as resolved.

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No security breach was reported in connection with the incident. No funds were lost or compromised.

MultiversX in context For those unfamiliar, MultiversX (formerly Elrond) is a blockchain protocol built around a technology called adaptive state sharding, which splits its network into parallel processing lanes to handle more transactions simultaneously.

The protocol claims throughput of up to 15,000 transactions per second with roughly six-second latency and low fees. For comparison, Ethereum’s base layer typically handles around 15-30 TPS.

Throughout 2026, the MultiversX team has been rolling out security enhancements and network upgrades, including the introduction of “Guardians,” aimed at hardening its infrastructure. None of the publicly available information suggests that the Coinbase delay was caused by any issue on MultiversX’s own network. The problem appears to have been isolated to Coinbase’s integration layer.

MultiversX’s network continued operating normally during the window when Coinbase users were experiencing delays. No reports of congestion, downtime, or unusual activity surfaced from other platforms or on-chain monitoring tools in connection with this event.

What this means for EGLD holders and traders No adverse effects on EGLD’s trading liquidity were observed during the incident. Users could still buy and sell EGLD on Coinbase throughout the disruption. They just couldn’t move it off the exchange or receive inbound transfers for a few hours.

For anyone who was mid-transfer when the delays hit, it’s worth verifying that pending transactions have completed successfully now that operations are back to normal. Checking both the Coinbase transaction history and the MultiversX blockchain explorer for confirmation is the prudent move.

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

LatAm crypto platform Ripio has deployed its full wFIAT stablecoin suite on @Celo, bringing six tokenized local currencies onchain with no on/off-ramp costs. The move covers the Argentine Peso (wARS), Brazilian Real (wBRL), Mexican Peso (wMXN), Colombian Peso (wCOP), Chilean Peso (wCLP), and Peruvian Sol (wPEN).

A Full Regional Suite, Now on Celo The wFIAT suite is a group of six fully collateralized stablecoins pegged to local Latin American currencies, covering the Argentine peso, Brazilian real, Mexican peso, Colombian peso, Peruvian sol, and Chilean peso. Each token is fully collateralized in its respective fiat currency and backed by reserves held at regulated financial institutions. The stablecoins were launched in phases during 2025, beginning with wARS, wBRL, wMXN, and wCOP, followed by wPEN and wCLP, completing the six-currency regional suite.

The Celo integration adds a new distribution layer for the wFIAT stack. Both wARS and wBRL are already issued as ERC-20 assets across seven EVM-compatible networks, including Ethereum, Base, World Chain, Polygon, BSC, Gnosis, and Celo, with collateral independently attested by local public accountants. The addition of zero-cost ramps on Celo is designed to lower the last barrier to practical adoption across the region.

Trading pools for the peso and real against $USDT opened on day one through FX network Textile, giving users immediate liquidity from launch.

Celo as a LatAm Payment Rail Celo is an EVM-compatible Layer 2 on Ethereum optimized for mobile-first payments, using phone-number-based address discovery and letting users pay gas in stablecoins or USDC instead of ETH. It hosts roughly $150 million in TVL as of mid-2026, with most activity in remittances, payroll, and savings products targeting Africa and Latin America. The Ripio integration lifts Celo's stablecoin ecosystem to 31 assets serving over 18 million holders, according to the platform.

Ripio, once a pure retail platform, has reoriented itself into a B2B infrastructure provider for Latin America's crypto ecosystem, launching a family of local currency stablecoins alongside tokenized debt assets to integrate more of the local economy onchain. Stablecoins backed by local currencies, rather than foreign monetary systems, are seen as a way to promote long-term economic health across the region by strengthening domestic monetary systems.

Free ramps on six local currencies remove one of the most persistent friction points in LatAm crypto adoption. With remittances, B2B settlements, and onchain FX all in scope, the Ripio and Celo partnership positions both platforms squarely at the center of the region's stablecoin buildout.

Sources:
Cointelegraph: Ripio CEO Bets on Local Stablecoins in Latin America
World Economic Forum: Using Local Stablecoins for Economic Growth in Latin America
CoinMarketCap: wBRL (Ripio wFIAT) Profile

Research Firm Enters Injective Validator Set@FourPillarsFP, an institutional-grade validator and crypto research firm, has joined @Injective as an official network validator. The move adds a research-focused institution to Injective's validator set and broadens the network's base of participants responsible for securing the chain.

With the addition, $INJ holders can now delegate their tokens directly to the Four Pillars validator through the Injective Hub. Through the Hub, users can stake INJ, participate in governance voting, claim rewards, redelegate tokens, and monitor validator performance. Delegators earn staking rewards in return for contributing to network security, without needing to run a node themselves.

Why Validator Diversity Matters for InjectiveInjective employs a Tendermint-based Proof of Stake consensus mechanism, where validators secure the network by staking INJ tokens and transaction validation occurs through a Byzantine Fault Tolerant process that provides instant finality. That design makes validator quality and diversity a direct factor in network reliability.

INJ is the native utility token of Injective, serving various roles within the ecosystem including governance, token burn auctions, and staking on the PoS network. Delegating to a validator such as Four Pillars therefore carries weight beyond yield generation. INJ also functions as a governance token, allowing holders to vote on network proposals, meaning delegators can align their stake with validators who actively participate in shaping the protocol.

Despite declines in INJ's price and the network's total value locked, Injective continued to attract institutional engagement in 2025, spanning regulated investment products, validator participation and new financial market offerings. Four Pillars' entry as a validator is consistent with that broader trend of research-oriented and institutional players taking a more active role in network infrastructure.

For $INJ holders considering where to delegate, the Injective Hub provides a full list of active validators alongside performance data. The unstaking period lasts 21 days, though stakers can redelegate from one validator to another without undergoing the full unstaking period.

Sources:
Injective Hub Guide: How to Stake, Vote, and Manage INJ
21Shares: Injective Infrastructure for Global Finance
Everstake: Injective Staking Insights, First Half of 2025

Nearly $30M in Bitcoin Exits BitMEX After Shutdown AnnouncementOn-chain data flagged by Onchain Lens shows a newly created wallet withdrew 468.30 $BTC, valued at approximately $29.88M, from @BitMEX on July 31, 2026. According to the data, this represents the first outflow exceeding $10M from the exchange since its formal closure notice was issued, with capital moving directly into a fresh on-chain address in what analysts described as a high-priority exit of exchange-held liquidity.

The timing is significant. BitMEX announced on July 23, 2026 that it will permanently cease operations at 04:00 UTC on September 23, 2026. The board of HDR Global Trading Limited, owner and operator of BitMEX, said the decision followed a strategic review of the business and the broader crypto industry. The withdrawal observed on July 31 came just eight days after that notice was made public.

What the Closure Timeline Means for Remaining Users Starting August 26, 2026, at 04:00 UTC, accounts will switch to reduce-only mode, and the exchange will begin force-closing open positions in batches. KYC-verified users who fail to withdraw assets by the closure time will be charged an account fee of USD 50 equivalent or 1% per annum, whichever is greater, billed monthly on the remaining balance.

The main challenge BitMEX faces is how user assets are transferred, as network congestion on the Bitcoin blockchain could cause significant withdrawal delays. The company has also warned users to be alert to phishing attempts that may exploit the closure announcement, noting that no expedited or priority withdrawal service exists, and that additional review procedures will be applied to withdrawal requests during the wind-down period.

The company's current proof of reserves indicates that platform liabilities are fully covered by customer assets. The exit marks the end of an 11-year run for the digital asset derivatives venue, which maintained a clean security record and lost no user funds to hacks or smart-contract exploits despite years of intense regulatory enforcement actions.

The large outflow underscores a broader trend of users accelerating withdrawals in the weeks before major exchange wind-downs, as holders seek to move assets to self-custody or alternative venues ahead of a hard deadline.

Sources:
BitMEX Official Closure Announcement
CoinDesk: BitMEX Notifies Users of Shutdown After 11-Year Run
The Paypers: BitMEX to Shut Down Crypto Exchange by September 2026

Ondo Perps Clears $300M in Daily Volume@OndoPerps, the perpetual futures exchange operated by @Ondo, has recorded $300 million in 24-hour trading volume, crossing the nine-figure mark in a single day. The platform is now approaching $70 million in total open interest, a notable figure given that it has been live for less than one month.

DeFiLlama data shows Ondo Perps has processed roughly $3 billion in perpetual futures volume over its first 30 days of operation, underlining the speed at which the platform has attracted on-chain activity.

What Ondo Perps OffersOndo Perps launched on July 7, 2026, billed as the first perpetual futures platform for equities and commodities that accepts tokenized securities as collateral alongside stablecoins. Available to non-U.S. investors, the platform offers up to 20x leverage across a range of underlying assets, including major U.S. stocks such as Apple, Nvidia, and Tesla, as well as ETFs, gold, silver, and oil.

The collateral design is a key differentiator. Most competing venues require traders to hold tokenized equities separately while posting stablecoins as margin, creating a capital efficiency problem. Ondo Perps allows traders to use tokenized equity holdings directly as margin, removing the need to maintain separate capital reserves.

The exchange operates on Ondo Network, a private, high-speed trading infrastructure that Ondo Finance unveiled in late July 2026. The network separates fast trade execution from settlement on public blockchains, an architecture aimed at matching the performance of centralised exchanges while retaining on-chain settlement guarantees.

The rapid scaling of the protocol points to concentrated demand for RWA-linked derivatives among on-chain market participants, a segment that has historically lacked a dedicated, capital-efficient venue. With open interest closing in on $70 million in its first weeks, @OndoPerps appears to be gaining traction as that gap narrows.

Sources:
Ondo Perps launch press release, PR Newswire
Ondo Perps volume data, DeFiLlama
Ondo Network infrastructure report, CoinDesk

Hyperliquid has traded within a descending channel since it faced rejection at $72 three weeks ago.

Over this period, all attempted rebounds have failed, reflecting sustained bearish pressure after every slight gain.

As of this writing, Hyperliquid traded around $54, up 0.65% on the daily chart. However, it remained down 7.3% weekly. The altcoin has continued to decline, largely driven by rising sell pressure from major investors.

Why are Hyperliquid whales selling? As Hyperliquid’s [HYPE] downtrend continued, some whales turned bearish and started selling.

According to Lookonchain, one whale returned to the market and unstaked its HYPE holdings. The whale unstaked 1.02 million HYPE, worth $57.6 million, and deposited it into FalconX and Coinbase Prime.

The investor purchased these tokens 17 months ago at an average price of $18.

Therefore, the position carried more than $39 million in unrealized profit before any confirmed sale.

Source: Arkham That was not all. The whale also unstaked 1.89 million HYPE, worth $105.9 million, from another wallet. The decision could reflect skepticism or asset reorganization. However, unstaking alone does not confirm an immediate sale.

The second tranche had not been deposited into any exchange at press time.

Even so, the whale activity captured the market’s attention and could spark fear among smaller traders.

Why are more investors unstaking? Notably, the whale was not an isolated case. Unstaking has become increasingly common among individual and institutional investors.

A week ago, AMBCrypto reported that 4.09 million HYPE, worth $241 million, was pending unstaking. Since then, that figure has more than doubled to 9.1 million HYPE, worth $496.6 million.

Source: Hyperscreener Additionally, Total Staked HYPE dropped from 438.7 million to 435.9 million. Rising pending unstakes and declining staked HYPE suggested that some long-term holders were reducing their exposure.

However, unstaking does not confirm that every holder intends to sell.

Could HYPE fall to $52? Investors were either selling unstaked HYPE or waiting after unstaking, adding uncertainty around future supply.

As a result, the Aroon Down line climbed to 92%, while the Aroon Up line declined to 28%. This setup indicated that HYPE formed lower lows more frequently than higher highs, reflecting strong downside pressure.

Source: TradingView The Relative Strength Index (RSI) also dropped deeper into bearish territory, reinforcing the weakness.

Together, both indicators suggested that the downtrend could continue. If selling pressure persists, Hyperliquid may drop toward the next support at $52.

Final Summary One whale deposited $57.6 million in HYPE into FalconX and Coinbase Prime. The same whale unstaked another $105.9 million, although those tokens had not reached exchanges.

Aster Opens Vault Product to All UsersAster DEX has confirmed that its Vault beta phase is complete, with the product now open to every user on the platform. The launch marks a notable expansion for the multi-chain perpetuals DEX, which runs across Ethereum, Arbitrum, Solana, and BNB Chain.

The Vault feature is designed to bridge the gap between active traders and passive investors. Users can deposit funds into a vault and share in its profits and losses based on their stake. Each vault is structured as a pooled account managed by a single trader who runs the deposited funds as one portfolio. The service supports deposits in USDT and USD1.

Three Vault Modes and Manager IncentivesAster offers three transparency settings to suit different preferences. Public vaults disclose both positions and performance, while private vaults hide positions but still disclose performance. Flexible vaults allow managers to switch between public and private modes.

Before depositing, users can review each vault's lock-up period and profit-sharing ratio. Funds can be withdrawn after the lock-up period ends, though some positions may be reduced or liquidated if needed to process withdrawal requests.

The structure also creates a clear path for skilled traders to monetize their edge. Managers can launch investable vaults, build a verifiable public track record, and earn a share of realized profits, turning strong performance into a sustainable revenue stream on-chain.

The Vault beta launched on 24 July 2026, expanding Aster's social trading features. The full rollout to all users signals that the beta testing phase met the team's requirements ahead of a broader release.

The move fits into a wider product push at Aster. Looking ahead, the second half of 2026 will focus on continuous product improvements and expanding the Aster ecosystem, including automated liquidity management vaults, real-world crypto payments, and institutional-grade block trading. The Vault product aligns directly with the copy-trading and managed-strategy direction the team has been signalling.

Sources:
Bloomingbit: Aster Launches Beta Vaults for Managed Trading Strategies
CoinMarketCap: Latest Aster News and Updates
Aster DEX: Official Roadmap

Dr. Kamilah Stevenson, a blockchain strategist known as The Wealth Doctor, has put forward a six-part upgrade package for the XRP Ledger aimed at making the public network more attractive to banks and corporations. These proposed changes focus on facilitating confidential transfers and improving compliance features, with the goal of addressing key concerns institutions face when considering public blockchains.

Confidential transfers and compliance focusDr. Stevenson emphasized that financial institutions and corporations have hesitated to use public blockchain networks for sensitive transactions, primarily because transaction data—including balances, counterparties, and timing—are visible to anyone with access to the network. She argues that this visibility compromises privacy and confidentiality, both of which are non-negotiable requirements for many enterprises operating under regulatory oversight.

The confidential transfers feature included in her proposal would conceal transaction amounts from public view while still allowing the ledger to validate the legitimacy of each transfer and ensure no improper creation of assets occurs. This privacy mechanism, according to Dr. Stevenson, is critical for enterprise adoption.

“When technology reaches ordinary people, it disappears,” Dr. Stevenson said, pointing out that consumers could use products built on the upgraded XRP Ledger without having to buy XRP or be aware that blockchain technology underpins the application.

Mini dictionary: XRP Ledger, also known as XRPL, is an open-source, decentralized blockchain widely used for fast, low-cost cross-border payments.

Additional upgrade featuresBeyond confidential transfers, the proposed upgrade package addresses several operational and technical needs. Batch transactions would permit multiple actions to be executed together, succeeding or failing as a single unit, enabling greater efficiency for corporate workflows. Permission delegation is envisioned to allow limited account authority, granting specific permissions to associates or automated processes without sharing full private key access.

The integration of Dynamic NFTs, which are tokens with properties that can be updated after issuance, could attract new enterprise and consumer applications. Additionally, node-performance improvements could yield up to 40% reductions in memory use, potentially lowering infrastructure costs for network participants.

FeaturePurposeIntended UsersConfidential transfersPrivacy for transaction detailsBanks, enterprisesBatch transactionsMultiple actions in one stepInstitutional usersPermission delegationControlled account accessCorporate accountsDynamic NFTsModifiable token featuresDevelopers, enterprisesNode-performance upgradesMemory efficiencyNetwork validatorsGovernance and upgrade processUnder the XRP Ledger’s governance model, any amendment or upgrade requires continuous support from at least 80% of validators over a two-week period. If validator backing falls below this threshold at any point, the activation timer resets. Dr. Stevenson described this conservative protocol as specifically designed to give stability and predictability to institutions evaluating long-term infrastructure investments.

Any proposed features must navigate the amendment process before becoming active on the XRP Ledger, and no set date or validator numbers for this upgrade package have been disclosed.

Since the features remain in the proposal stage, there are as yet no market price movements or adoption figures directly attributed to the potential upgrade. Implementation would ultimately rely on community support, validator consensus, and the resolution of any technical or compliance questions that arise during the approval process.

If these upgrades are adopted, the XRP Ledger could expand its appeal to regulated firms, but actual integration would depend on further alignment with compliance requirements and demonstrated enterprise demand.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Ethereum has turned 11, and the network’s birthday arrives with a very Ethereum-style contradiction: it is still one of the most important settlement layers in crypto, but its base-chain revenue has cooled sharply.

The validated July 31 notes show Ethereum hosting roughly $148.8 billion in stablecoins and around $15.5 billion in tokenized real-world assets. At the same time, daily mainnet revenue was reported near $330,000, with base-chain fees around $734,000 over a 24-hour period.

That combination tells the real story better than a birthday tribute would.

Ethereum is still deeply important. Stablecoins, DeFi, tokenized assets, Layer 2 settlement, and institutional infrastructure all continue to orbit around it. But the economics of the base chain are changing as activity moves across rollups, alternative chains, and cheaper execution environments.

Ethereum is not disappearing. Its revenue model is evolving.

For more details, visit the official Etherscan platform.

TL;DR Ethereum turned 11 on July 30, 2026. The network hosts about $148.8 billion in stablecoins and roughly $15.5 billion in tokenized real-world assets. Mainnet revenue has cooled, showing the trade-off between scaling and base-layer fee capture. Ethereum’s First Decade Was About Survival And Expansion Ethereum’s first 11 years have been unusually eventful.

The network launched as Frontier in July 2015. Since then, it has survived the DAO crisis, hard forks, congestion cycles, NFT manias, DeFi booms, stablecoin growth, competing Layer 1s, regulatory pressure, and the Merge to proof-of-stake.

It also became the default home for much of crypto’s financial experimentation.

Stablecoins grew on Ethereum. Lending markets scaled there. DEXs became serious there. Tokenized assets, DAOs, NFTs, and Layer 2 ecosystems all built around Ethereum’s developer base and security assumptions.

That is why the stablecoin figure matters.

A $148.8 billion stablecoin base is not just a vanity metric. It shows that Ethereum remains a major settlement environment for dollar-denominated crypto activity, even as cheaper networks compete for transaction volume.

The Fee Drop Is Not Automatically Bad Lower mainnet revenue can be read in two ways.

The bearish reading is that Ethereum is losing economic value. If users are paying less to transact on mainnet, ETH fee burn declines, validator economics change, and the network may capture less direct revenue from activity.

That matters.

But the more balanced reading is that Ethereum scaling is working in a way that changes where activity happens. Rollups and Layer 2 networks were designed to make transactions cheaper and move execution away from the congested base chain. If users can transact more cheaply, mainnet fees should fall.

That is the trade-off.

Ethereum wanted scaling. Scaling reduces fees. Lower fees reduce direct mainnet revenue. The question is whether Ethereum captures enough value through settlement, data availability, ETH monetary premium, and Layer 2 alignment to offset lower base-chain activity.

That is now one of Ethereum’s central debates.

Stablecoins Are The Anchor Stablecoins remain one of Ethereum’s strongest anchors.

Speculative applications come and go, but stablecoins have become core financial plumbing. Traders use them. Exchanges use them. DeFi protocols use them. Payment companies use them. Treasury desks and market makers use them.

If Ethereum continues to host a large share of stablecoin value, it remains strategically important even if some transaction execution migrates elsewhere.

The same is true for tokenized real-world assets.

A reported $15.5 billion RWA base is still small relative to traditional finance, but meaningful within crypto. Tokenized treasuries, credit products, funds, and other on-chain assets have become one of the more serious institutional narratives in the market.

Ethereum’s role is less about being the cheapest chain and more about being a trusted settlement layer with deep liquidity, developer tooling, and long-running infrastructure.

Layer 2s Changed The Revenue Conversation Ethereum’s Layer 2 strategy is both its strength and its complication.

On one hand, rollups make Ethereum more usable. They reduce congestion, lower transaction costs, and allow applications to scale without every user touching mainnet directly.

On the other hand, they fragment liquidity and reduce direct fee pressure on the base chain.

That creates a new valuation question for ETH.

In the old model, high demand for blockspace translated into high fees and more burn. In the newer model, activity may happen across many Layer 2s, while Ethereum earns through settlement and data-related demand. That can be healthier for users but harder for investors to model.

The network’s 11th birthday therefore comes at an important moment.

Ethereum is no longer proving that smart contracts matter. That battle was won years ago. Now it is proving that a modular scaling strategy can still support strong ETH economics.

Ethereum’s Next Chapter Is About Value Capture Ethereum’s position remains strong, but the easy narrative is gone.

It is not enough to say Ethereum has the most developers or the deepest DeFi history. Competitors are faster, cheaper, and more specialized. Layer 2s create both scale and fragmentation. Mainnet fees no longer tell the whole story.

The better question is where value ultimately settles.

If stablecoins, RWAs, DeFi collateral, and rollups continue depending on Ethereum security, then lower fees may be part of a successful scaling path. If too much activity and value drift away without returning economic benefit to ETH, the market will care.

That is why the current data is so interesting.

Ethereum at 11 is still foundational, but the business model of the base layer is being rewritten in real time.

This article is based on public Ethereum network data and July 2026 stablecoin, RWA, and fee metrics.

This article was written by the News Desk and edited by Samuel Rae.

Tether Posts Strong Q2 Performance, Generates $1.5B Net Operating Profit, Maintains $4.11B Reserve Buffer, and Expands Gold Holdings to More Than 146 Tons

Tether International, S.A. de C.V., today published its attestation for Q2 of 2026, prepared by BDO, a top-five global independent accounting firm. The report confirms the accuracy of Tether’s Financial Figures and Reserves Report and provides an overview of the assets backing USD₮ as of June 30, 2026.

USD₮ issuance increased, with approximately $184.6 billion in tokens issued at the end of Q2, around $446 million higher than at the end of Q1 despite a decrease in the industry’s total market cap. USD₮’s resilience extended its market share to over 60% of the total stablecoin market. The results demonstrate the strength and resilience of Tether’s reserve strategy through significant volatility across gold and Bitcoin. 

Tether’s reserves continue to be centered on short-duration, high-quality liquid assets. Its net operating profit, led by U.S. Treasury and repo, reached approximately $1.50 billion for the quarter. The majority of reserves remain in U.S. government-backed instruments and short-term liquidity facilities, providing the liquidity needed to manage redemptions across different market conditions. As a result, the Company remained one of the world’s largest buyers and holders of U.S. Treasuries.

At the end of the quarter, Tether’s reserves exceeded its liabilities by approximately $4.11 billion, demonstrating the resilience of the Company’s reserve structure through sharp market volatility. Tether also reduced its secured lending exposure by approximately $2.38 billion (15%).

The Management of the Company asserts the following as of June 30, 2026:

The Company’s total assets amount to US$ 187,751,426,411 The Company’s total liabilities amount to US$ 183,641,897,215, of which US$ 183,622,105,630 relate to digital tokens issued The Company’s assets exceed its liabilities by US$4,109,529,196 “Q2 demonstrated the strength of Tether’s reserve strategy under real market pressure,” said Paolo Ardoino, CEO of Tether. “The assets that back some of Tether’s reserves were tested directly during the quarter. Through all of the volatility, USD₮ remained fully backed with our reserves still exceeding liabilities by $4.11 billion. Our net operating profit for the quarter was $1.50 billion, led by a strong U.S Treasury portfolio and repo performance. We remained one of the world’s largest buyers of U.S. Treasuries, reduced secured lending by $2.38 billion, and added 14 tons of physical gold. At the same time, our global user base continued to grow by more than 30 million users. These results show that Tether has the liquidity, discipline, and scale to remain resilient across market cycles while continuing to serve hundreds of millions of users around the world.”

USD₮ continues to serve as financial infrastructure for people and businesses across global markets. Tether remains focused on maintaining a liquid and diversified reserve structure capable of supporting that demand at scale. During the quarter, the Big Four audit process continued alongside the development of Tether’s broader technology and financial infrastructure ecosystem.

For more information, please refer to the latest Financial Figures and Reserves Report here

A Three-Way Push Into Corporate Payroll@Zebec_HQ has joined forces with @StellarOrg and @Tangem to roll out custom, hardware-based wallets aimed squarely at the global employee payroll market. The initiative marks the latest step in Zebec's expanding relationship with the Stellar network, which selected the company as its global stablecoin payroll infrastructure provider earlier in 2026.

Announced in March 2026, Zebec's integration with Stellar allows businesses to pay employees continuously in USDC on a per-second basis, a feature selected by the Stellar Development Foundation. The new hardware wallet programme takes that infrastructure one step further by putting a physical, branded device directly into workers' hands at the point of onboarding.

Employees and contractors can receive salaries rapidly into their digital wallets, spend funds via Zebec's Mastercard-powered cards, and convert digital dollars into local fiat currencies. The addition of Tangem's hardware layer is designed to make that experience accessible to staff who may have little or no prior crypto experience.

Seedless Security at the Point of OnboardingThe wallets use NFC technology to deliver a tap-to-sign experience, removing the friction that has historically made self-custody impractical in a corporate setting. Critically, the setup eliminates the need for traditional seed phrases while keeping the wallet non-custodial. Tangem generates and stores the master key securely on a chip within the wallet card, reducing the risk of theft or loss from unprotected backups, with recovery achieved through additional cards rather than written phrases.

When a Tangem wallet is initialised, the chip's hardware random number generator creates a private key that never leaves the secure element, not during setup, not during transactions, and the key is stored in tamper-resistant hardware that will physically destroy itself if extraction is attempted.

For Zebec, the partnership addresses one of the most persistent barriers in crypto payroll adoption: key management. By handing employees full key ownership upon onboarding, the company removes the corporate intermediary from the salary pipeline entirely, a meaningful step for businesses operating across multiple jurisdictions where wage portability and financial access remain uneven.

Founded in 2021, Zebec Network has built a broad portfolio spanning crypto-linked payment cards, streaming payroll systems, and cross-border settlement tools. The Tangem collaboration is the latest in an ongoing hardware wallet partnership between the two firms, with a prior co-branded wallet run having reportedly sold out.

Sources
Zebec Launches Stablecoin Payroll on Stellar for Global Workforces (FX Daily Report)
How Seedless Wallets Work (Tangem Blog)
AllUnity and Zebec Deploy EURAU-Powered Employee Benefits on Stellar (Business Wire)

July Brings Another Month of Steady AccumulationThe Chainlink Reserve closed July 2026 with its largest single-month token haul yet, adding more than 706,000 $LINK throughout the month. The latest purchases were valued at over $5.7 million, bringing total Reserve holdings to 5,210,976 LINK.

The pace of accumulation marks a significant step up from earlier in the programme's life. Early inflows averaged 80,000 to 90,000 LINK per week in late 2025, rising to between 125,000 and 137,000 LINK per week by early 2026. July's figure implies the programme has continued to accelerate from there.

How the Reserve Works and Why It MattersThe Chainlink Reserve is an on-chain reserve that accumulates its native LINK token using revenue from fees paid by large institutions and decentralised applications. It is funded through Payment Abstraction, an on-chain infrastructure that converts payments made in gas tokens and stablecoins into LINK using decentralised exchange infrastructure.

Chainlink has said it does not expect any withdrawals from the Reserve for multiple years, and the balance is expected to grow as more enterprise revenue is directed on-chain. The Reserve operates transparently through a public dashboard and a time-locked Ethereum contract.

Launched on August 7, 2025, the initiative is part of the Chainlink Economics 2.0 upgrades. Since then it has grown from roughly $1 million at inception to a holding now worth well into the tens of millions of dollars at current market prices. Reported milestones driving that growth include DTCC's approval of tokenisation, UBS's launch of tokenised funds, and Coinbase's bridging of $7 billion in wrapped assets using Chainlink infrastructure.

The Reserve's long-term effect on LINK tokenomics depends on whether revenue growth outpaces ongoing token unlocks. For now, the trajectory points firmly upward, with each monthly update reinforcing the programme's role as a structural demand driver for the token.

Sources
Chainlink Reserve official dashboard
Chainlink blog: Introducing the Chainlink Reserve
CoinDesk: Chainlink Launches LINK Reserve to Fuel Network Growth

Direct Funding Replaces Manual Bridging@MoonPay has deployed its MoonPay Trade execution layer to @MiracleTrade, automating capital flows across the @Hyperliquid ecosystem and removing a friction point that has long slowed traders entering the platform.

Until now, funding a Hyperliquid trading account required a manual, multi-step process: buying $USDC on an external exchange, bridging it through @Arbitrum, and then depositing it into the DEX. Previous workarounds required users to buy USDC on another chain, bridge it to Arbitrum (Hyperliquid's settlement layer), and then deposit it into the DEX, with each step taking time, costing gas fees, and introducing opportunities for mistakes. The MoonPay Trade integration collapses that workflow into a single action, allowing traders to fund their wallets directly using $BTC, $SOL, or $ETH.

How MoonPay Trade WorksThe system relies on deterministic routing to execute cross-chain swaps in the background, keeping the process non-custodial while consolidating fragmented liquidity. Unlike standard bridge or DEX aggregators, MoonPay Trade handles cross-chain routing and settlement automatically. Cross-chain trades are routed and settled automatically, meaning users do not need to manually manage bridges, wrapped assets, or gas on the destination chain.

MoonPay Trade is powered by the technology and team from Decent.xyz, the Y Combinator-backed cross-chain routing company MoonPay acquired. Decent developed proprietary bridge infrastructure, routing algorithms, and an aggregation layer that delivers optimized execution across 200-plus chains and millions of assets.

MoonPay Trade is designed to reduce that burden by combining transaction execution, settlement, conversion, and payment support for more than 120 fiat currencies on one platform. Where MoonPay once handled the entry and exit points, MoonPay Trade now powers everything in between: cross-chain execution, collateral movement, tokenized fund subscriptions, and onchain settlement, all backed by institutional-grade compliance infrastructure.

The Miracle integration extends those capabilities directly to Hyperliquid traders, giving the platform's users a faster path to capital deployment without leaving a non-custodial environment.

Sources:
MoonPay launches MoonPay Trade (PR Newswire)
MoonPay launches Trade and expands Hyperliquid access (CFO Tech)
MoonPay Gateway adds Hyperliquid (PR Newswire)

THORSday Community Podcast #221 ft. CBarraford, KentonC137 & Patriotsounds | July 30, 2026 | Watch the full episode on YouTube

By Raynalytics

TL;DRv3.20 is in testing, and Chad hopes it is done this week or early next. It targets the exploit's second-order mainnet instability and carries the fix that would let more affiliates onto the dynamic fee model.ADR31 passed on option 1, and ADR27 passed with it. Minimum slip is now zero bps, so the Rujira app layer can arb pools tighter than the 10 to 20 bps band arbitrageurs hold today, once Rujira's side is switched on.Monero's code is essentially ready and the churn is the blocker. Zcash probably takes the next churn, with Monero after. Chad's separate churn-removal work would not cover $XMR, which brings its own signing algorithm.The plan settled on air is to launch Monero as a soft launch, an openly labelled beta period with its length still open, on what Denny called the most complicated chain client THORChain has added.Protocol-owned liquidity should switch on with v3.20, Chad hopes, and would pick its own pools by comparing depth against revenue. Gas assets are enabled by default, while stablecoins and ERC20s each need a node vote.1. v3.20 Is in Testing, and It Takes the Post-Exploit Wobble With Itv3.20 is being tested now, and Chad hopes testing wraps this week or early next. From there, as he recalls the sequence: exchanges are notified, the release is cut, and community adoption follows roughly a week behind.

Much of the mainnet trouble since the exploit has not been the exploit itself but second-order damage from it, and v3.20 aims at that directly. Chad expects a good percentage of the instability to go away, not all of it.

The stable reserve is in the v3.20 code, but Chad wants more data analysis and simulations before he is confident in it, so he does not expect this release to activate it.

v3.20 also fixes the small bug currently gating additional affiliates on the dynamic fee model, and changes the protocol-owned liquidity Mimir from an economic setting to an operational one.

2. ADR31 and ADR27 Pass, and Minimum Slip Drops to ZeroDenny opened the show wearing a celebratory hat for what he called his Rujira boys: ADR31 passed on option 1, which last week's recap covered as continuing the Rujira relationship as it stands. Denny's read was that the nodes are overwhelmingly excited for the app layer.

ADR27, which passed alongside it, is the one with immediate mechanical consequences. Minimum slip is now zero bps. Arbitrageurs currently pull pools to within roughly 10 to 20 bps on either side of market, and with the floor gone, the app layer can push them as close to zero as is reasonably possible once Rujira's arbing code is switched on. Chad's understanding is that roughly half the income earned doing it would route back to the base protocol.

The dynamic fee model currently discounts swaps partly to absorb slippage. Take the slippage out and Chad thinks THORChain could raise its prices and theoretically hold the same volume.

CodeHans told him it would be done toward the end of the week.

"He's a dev like I'm a dev. So sometimes our timelines aren't exactly on point." (Chad)Chad expects a week or two after it flips on before the effect is readable. Rujira also posted its highest trade volume day on record the day of recording, though Denny did not have the figure to hand. Live ADR vote counts sit on Ray's governance tracker on raynalytics.net.

3. Chad Wants Chain Launches to Stop Waiting on a ChurnMonero is, in Chad's words, pretty much ready to go. THORChain has not been able to churn for a while because of the instability around the exploit, and both Zcash and Monero need a churn to launch.

So Chad started writing a code change to take the churn out of adding a chain, with one carve-out: he said a chain bringing a new signing algorithm would still need a churn, and $XMR is exactly that. The change removes the churn for ordinary chains that reuse an algorithm THORChain already has.

The churn is fragile: every node has to be online and communicating inside a reasonable window, and one node fumbling it forces a retry. THORChain churns every three days, while Chainflip does it roughly once every seven months.

It also gets more fragile as THORChain grows. Every added chain is another way for a churn to fail, since a broken Litecoin means no transactions and no churn. Every added signing algorithm is another key: Monero needs its own private key, making three instead of two, DKLS would be a fourth, and Schnorr a fifth.

"If we lean towards the more secure route, we'll also lean towards a less reliability route. Those two things kind of push against each other." (Chad)The insight underneath the change: you need one key per signing algorithm, not one per chain. From one public key you can derive an address on any chain sharing the same algorithm. Chad's illustration was the TON chain: if it uses an algorithm THORChain already holds a key for, and he guessed EdDSA without being sure, the network could derive a TON address today with none of the TON code written.

Chad rates the work as mid, not a lot of code but a lot of thinking, architecture and edge cases. The branch is most of the way through and needs a large amount of testing.

Zcash probably takes the next churn, unless stagenet testing turns up something significant. Monero follows.

4. Monero Gets a Soft LaunchKenton has been flip-flopping on when to push Monero: promote it at launch and ride the momentum, or wait two months for the pool to stabilize and risk losing that window.

Denny's answer was to announce it and be honest that there could be bugs. Chad supplied the phrase that settled it: soft launch. A beta period, caution advised, in a term everyone already understands.

Denny called this the most complicated chain client THORChain has added, and the team has been testing it for over a month.

"This is the jungle. No one's ever done this." (Denny)Monero locks UTXOs, and Chad was not sure whether the lock runs 20 blocks or about 20 minutes. Either way, no other chain THORChain supports does it. He thinks THORChain consolidates once it holds more than 8 or 13 UTXOs and would have to check the code to confirm what Monero does by default, but applying the same logic there would lock all those funds at once, and an outbound could arrive with nothing spendable behind it.

He said the existing logic might be good enough. If it is not, his fallback is lazy UTXO consolidation: cap how many UTXOs a single spend may use, then work through successive batches until there is enough.

Chad expects arbitrage not to be the worry, since it happens mostly internally rather than on the layer 1. Organic volume is. Worst case is a backlog of outbound transactions, which THORChain Swap could reflect in its outbound time estimate. He thinks that is more likely than not, and would still rather let the network's own data name the real problem than build for it now.

On wallets, Trezor support is now live on THORChain Swap and open for testing, prioritized partly because Kenton called it one of the more popular Monero wallets.

Denny's longer ambition is that THORChain becomes Monero's center of liquidity and sets the real price of $XMR. Chad put a floor of six months on that, probably more, and listed what it needs: chain stability, depth in the pools, and more wallets integrating. He would not call it crazy. Continued $XMR delistings from centralized exchanges only make the case easier.

5. Protocol-Owned Liquidity Returns, and It Picks Its Own PoolsPOL should kick in with v3.20, Chad hopes, since its Mimir moved from economic to operational. He believes that makes it votable but would have to check the code to verify. If it is, Kenton noted, nodes could vote it on and back off if they disagreed. The percentage then goes to a node vote: 5%, 20%, 80%, whatever the community sets.

POL compares a pool's depth against its revenue and favors low depth and high revenue over deep and quiet. It is self-correcting, because as a pool deepens, clearing that revenue-to-depth bar gets harder and the allocation moves on.

Chad does not think anyone can add liquidity to the Bitcoin pool, protocol or otherwise, so $BTC and some other assets would not be eligible.

"I want the liquidity to go to Solana, Zcash and Monero, to build those smaller pools. Bitcoin's got enough." (Chad)Gas assets are enabled by default. Non-gas assets are not, deliberately: Chad did not want protocol income automatically invested into every ERC20 on the network. Stablecoins and specific ERC20s would each need a node vote. He expects $USDC and $USDT to pass without argument, while a more divisive token would draw real debate. Kenton flagged TRON $USDT as one he wants moving.

Chad thinks the allocation runs daily but was not certain without rechecking the code. He expects Solana or Monero to take the early allocations, assuming Monero carries the highest volume in its opening days.

The treasury typically seeds a new pool with about $100k. Kenton asked whether Monero warrants more; Chad said probably not, especially with POL there to supplement, and it is the treasury's call. Kenton's firm ask was that POL be on before Monero goes live.

https://raynalytics.net/dashboards/dynamic-fees6. Dynamic Fees Add Another 0.7% at ShapeShiftShapeShift is still the only affiliate with dynamic fees switched on. Maybe one or two more follow once v3.20 lands, which Chad expects in a week or two.

Chad went back for a baseline. In May, 5.6% of ShapeShift's total swap volume routed to THORChain, with the vast majority of the rest going to Chainflip. June came in around the same 5 to 6%, though he called June a weak data source given how much of it THORChain spent offline after the exploit. The two months agree, which he called consistent.

Last week's July figure was significantly up, but Chad suspected an anomalous $RUNE trader sat inside it, so he pulled a fresh chart with one more week of data. On that longer read, THORChain's share is up another 0.7%, with NEAR Intents and Chainflip down 0.7%. He called it not very much, slightly up rather than significant.

The sample is small, deliberately: Chad puts ShapeShift at roughly $5 million a month in volume, and THORChain picked it rather than testing an experimental feature on SwapKit or another large affiliate first.

7. ADR29 Rev-Share, and Why SwapKit Would Get the ExperimentADR29 would let a partner take a percentage of THORChain's fees instead of charging its own affiliate fee on top. The vote is still in progress.

Kenton relayed Scorch's questions from the governance discussion as he remembered them: could this be net negative? Why give away fees, and what is the proof it worked?

Kenton answered in two parts. For new providers the math is trivial, because their current volume is zero, so anything they bring is additive. For existing partners he agreed with the objection: hand rev-share to the partners THORChain already has and revenue drops 10 to 20% instantly. He does not think they should.

SwapKit is the proposed exception, mechanically rather than sentimentally. Under the design, it would not keep the rev-share: it would put the money into discounting future trades, which is the dynamic fee model again, pushed out from the core of the protocol to the edge where the real-time information is better. Chad's condition for any existing partner is a number attached.

"If we give you 20%, we want to see 30% improvements or something like this." (Chad)Nobody knows the answer, SwapKit included, which is why he calls it an experiment: small, low risk to the protocol, and switched off if it does not work. He wants community approval before trying it. He also likes a side effect: a working rev-share would make SwapKit reliant on THORChain, because Chainflip and NEAR Intents do not currently offer the same thing.

8. Why an Engaged Community Beats a Bigger Market CapAn audience question asked why $TAO is being lined up ahead of $HYPE, $TON or $LINK, if bigger assets mean more volume.

Kenton accepted market cap and volume as a starting point. What matters more is whether the chain's community is engaged and wants to be on THORChain, because that community brings volume with it. Bittensor is engaged, and $TAO is not listed on any other DEX, which would make THORChain the first. Add a large cap whose users are indifferent, Hyperliquid being his example, and he expects little more than some traders and some arb volume.

Same for the smaller privacy coins: Dash, Firo and Zano all have communities that want in, and Kenton expects more activity from those engaged communities than from randomly added tokens.

Chad's read matched. Zcash was added because competitors were doing real volume in it, which is the market telling you the value is there. Monero was added because it is Monero. $TAO has real support behind it, if not quite as much.

"It's not an exact science. You just kind of lick your finger and put it up in the air to get a vibe check to decide what's next." (Chad)Chad added that the process is not political, and market cap is one attribute among several. Kenton expects $HYPE, $TON and $LINK eventually, and said he and StarSquid both want a lot more chains. The churn has been holding the queue up.

9. Chad's Plan to Put Huginn on Mainnet WatchTwo Huginn threads, both early.

The first is documentation. Chad has just started wiring it up: Huginn will read the docs against the codebase and open a code change when it finds a discrepancy, so the docs stop drifting behind fast-moving code.

The second he has wanted for a long time and kept deferring behind the dynamic fee model. A model cannot watch mainnet in real time, because it is too much data and would cost far too much, which Chad called completely impractical. So in his design, mathematical heuristics would do the watching and post to Discord when something looks anomalous, whether slow block times, strange prices or odd logs. Huginn would read that channel, open a thread on the event, run a deep analysis, and post its report where developers, node operators and community members all see the same data at the same time.

Chad named the failure mode: false positives. His example was Huginn hallucinating that the Bitcoin pool is empty, with a co-host adding the Dev Discord screenshot landing on Twitter while the pool sits perfectly fine. The thread is the mitigation, because technical node operators can look and say so publicly. He does not think false positives can ever be eliminated, since today's AI is non-deterministic in much the way humans are.

Huginn does already re-audit. Whenever a new model ships, Chad points it at the codebases again, and it re-reviews any file changed since its last pass and opens a GitLab issue when it finds something significant.

Separately, THORChain is working on being legible to AI agents. A community question about the Robinhood talks brought it up, and Kenton pointed to Robinhood's agent-facing interface: he said IBEC, who works on THORChain Swap with Unstoppable Wallet, could build something comparable. Chad has a developer assigned to AI work and handed over the MCP server code he wrote for Badlands, an unlaunched THORChain project, which already reads THORNode and Midgard data. He is asking for community ideas, on Discord rather than Twitter or Telegram, and floated an online AI developer conference with $RUNE for the top three entries.

What to Watchv3.20 shipping: testing wraps this week or early next, Chad hopes, then exchanges are notified, the release is cut, and community adoption follows about a week behind, he thinks. Maybe one or two more affiliates join the dynamic fee model once it lands, which would finally give it a larger sample.Zcash first, Monero second: Zcash probably takes the next churn, unless stagenet testing turns up something significant, then Monero as an openly labelled soft-launch beta.POL's percentage: if v3.20 turns POL on as hoped, a node vote sets the allocation percentage, with likely follow-up votes to enable stablecoins and specific ERC20s.ADR29 and TOR anchors: both votes are still in progress. If the community approves ADR29, watch the SwapKit trial against Chad's condition of returning more than it costs, with a switch-off if it misses. On TOR anchors, adding more stablecoins for valuing TOR, his default is yes.Huginn's mainnet watch: still a design rather than a deployment. Expect false positives when it does land, since Chad does not think they can be eliminated.Possible Bitcoin forks, and a Discord gap: Kenton flagged talk of one or two Bitcoin forks, his read being that they concern data and ordinals in blocks, which he put at about half right. As the code stands, forked coins in THORChain's Bitcoin pool would most likely be burned, and Chad would only spend engineering time rescuing them if the amount justifies it. Separately, the community Discord is closing with a few channels expected in the dev Discord, so THORChain Swap ticket support may pause for a week or two.Next up: Depouch joins on Saturday. Next Thursday is a Rujira focus with Pragmatic Monkey and CodeHans while Chad is on vacation.More THORChain data, check out raynalytics.net

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