Hyperliquid za posledních 24 hodin odkoupil a spálil 9 730 HYPE za zhruba 829 500 USD. Celkem bylo už spáleno 48,42 milionu HYPE, tedy asi 4,84 % maximální nabídky.
Hyperliquid repurchased and burned approximately 9,730 HYPE tokens during the 24 hours ending Sept. 6, according to blockchain data published by Onchain Lens.
Summary
Hyperliquid bought and burned 9,730 HYPE worth approximately $829,500 during the latest 24-hour reporting period. The purchases averaged $85.27 per HYPE, according to Onchain Lens’s public blockchain tracking data snapshot. Cumulative burns reached approximately 48.42 million HYPE, equal to 4.84% of maximum token supply overall. HYPE traded near $86 after the report, remaining below its latest record high price level. Hyperliquid’s Assistance Fund converts most eligible trading fees into automated open-market HYPE purchases and burns. The transactions were worth about $829,500 at an average purchase price of $85.27 per token. The latest activity increased the amount of HYPE classified as burned to approximately 48.42 million tokens.
That total represents about 4.84% of HYPE’s original maximum supply of 1 billion tokens. At a price of roughly $85.50, the cumulative balance would be valued near $4.14 billion.
The $4.14 billion figure is a mark-to-market calculation. It does not represent the amount Hyperliquid spent acquiring the tokens. The Assistance Fund purchased HYPE at different prices over time, and Onchain Lens did not publish a cumulative acquisition cost in its latest update.
HYPERLIQUID BURNS $830K HYPE IN 24 HOURS
Hyperliquid bought and burned 9.73K $HYPE (~$829.5K) over the past 24 hours at an $85.27 average price.
Lifetime:
· 48.42M $HYPE burned
· ~$4.14B at current value
· 4.84% of max supply permanently removed pic.twitter.com/SsqxWR2wRt
— Onchain Lens (@OnchainLens) September 6, 2026 Hyperliquid burns HYPE through its Assistance Fund Hyperliquid uses an automated mechanism called the Assistance Fund to direct most eligible protocol fee revenue toward open-market HYPE purchases. The tokens are then removed from circulating and total supply under the network’s burn framework.
The protocol’s current documentation states that HYPE held by the Assistance Fund is burned permanently. Hyperliquid’s validators formally recognized the fund’s accumulated HYPE as burned following a governance process in December 2025.
Before that decision, the Assistance Fund accumulated tokens at a system address that lacked a conventional private key. Although market observers often treated those tokens as removed from circulation, the governance decision formally committed validators against approving an upgrade that could restore access.
The mechanism links token purchases directly to activity on Hyperliquid. Greater trading volume and fee generation provide more resources for HYPE purchases. Lower activity reduces the amount available. The program therefore has no fixed daily repurchase level.
An earlier examination of Hyperliquid’s fee-funded buyback mechanism found that roughly 97% to 99% of applicable protocol fees were directed to the Assistance Fund, depending on the market and fee category.
Priority fees follow a different process and are burned directly. The Assistance Fund should also not be confused with HLP, the protocol’s separate market-making vault.
The 48.42 million HYPE figure needs context Multiplying 48.42 million HYPE by the reported $85.27 average produces approximately $4.13 billion. However, $85.27 was the average price for the latest 9,730-token purchase, not the historical average cost of all burned tokens.
The reported $4.14 billion total instead reflects what the cumulative tokens would be worth at current market prices. It can rise or fall without additional burns because HYPE’s market value changes continuously.
The supply calculation is more direct. Dividing 48.42 million by the original 1 billion maximum supply produces 4.842%, matching the approximately 4.84% reported by Onchain Lens.
Current data providers may display a maximum or total supply below 1 billion because previously burned tokens have already been deducted. CoinGecko, for example, listed HYPE’s fully diluted supply near 955 million tokens on Sept. 6 rather than the original maximum.
Those differences do not mean additional tokens disappeared without explanation. They reflect whether a data provider uses the original authorized maximum or a burn-adjusted supply figure. Writers comparing burn percentages should specify which denominator they use.
The burn also does not transfer cash directly to HYPE holders. HYPE is not company stock, and token ownership does not provide a legal claim on Hyperliquid Labs’ revenue. The mechanism reduces token supply and creates open-market demand, but it does not guarantee a higher price.
HYPE traded near its record after the burn HYPE traded around $86 on Sept. 6, according to market data from CoinGecko. It gained approximately 2.6% over 24 hours and remained less than 2% below its reported record of $88.06.
CoinGecko recorded about $865 million in 24-hour trading volume and placed HYPE’s circulating market capitalization near $19.2 billion. Other platforms showed prices between approximately $85 and $87 during the same period, reflecting normal differences between venues and collection times.
The price increase occurred alongside the latest burn, but the timing alone does not prove that the 9,730-token purchase caused the movement. HYPE also responds to derivatives activity, broader market conditions, token unlocks, demand for network staking and expectations surrounding protocol revenue.
At an average price of $85.27, the latest $829,500 purchase represented a small fraction of HYPE’s daily trading volume. Its immediate price effect therefore cannot be isolated from other orders without more detailed market data.
The broader buyback program is more material because it operates repeatedly. Research published in May found that the Assistance Fund had been buying approximately $1 million in HYPE per day on average, although the amount varied with protocol revenue and token prices.
Crypto projects collectively spent a record amount on repurchases during 2026, with Hyperliquid and Pump.fun accounting for most tracked buybacks. The programs differ in funding sources, implementation and treatment of repurchased tokens.
Additional revenue could fund future HYPE burns Hyperliquid added another potential source of Assistance Fund revenue through its aligned quote asset framework in August. AQAv2 directs most cost-adjusted reserve yield from eligible stablecoins toward the protocol.
For USDC, approximately 90% of cost-adjusted reserve income is expected to reach the Assistance Fund. Coinbase acts as the treasury deployer, while Circle provides the stablecoin’s issuance and cross-chain infrastructure.
The USDC reserve-yield arrangement began operating in August, but the first payment is scheduled for Oct. 3 because of an initial grace period and the framework’s settlement schedule.
The payment amount remains unknown. It will depend on the USDC supply deployed on Hyperliquid, prevailing reserve yields, operating costs and other terms. Any estimate before the first transfer would be forward-looking.
Until then, trading fees remain the main observable driver of Assistance Fund purchases. Daily burn totals will continue to change with platform activity and HYPE’s market price. A higher token price allows the same dollar amount to purchase fewer HYPE tokens, while a lower price increases the number removed for an equal expenditure.
Future burn reports should therefore be assessed through three separate measures: the number of HYPE removed, the money spent during the period and the token’s prevailing price. Combining them into a single dollar figure can obscure how the mechanism is performing.
BHYP společnosti Bitwise po čtyřdenní pauze znovu nakoupil HYPE za 10,5 milionu USD, čímž celkové nákupy od spuštění zvýšil na 166,3 milionu USD. HYPE se drží kolem 85,45 USD.
TLDR: HYPE price holds near $85.45 after BHYP added $10.5 million in tokens, ending a four-day pause in purchases by Bitwise clients. Bitwise has accumulated $166.3 million in HYPE since BHYP launched, making the fund the largest HYPE ETF by reported size. Hyperliquid bought and burned 9,730 HYPE worth about $829,500 in one day, extending lifetime burns to 48.42 million tokens. The ETF purchase adds regulated spot demand, while fee-funded burns permanently shrink supply and leave $88.06 as nearby resistance. HYPE price traded near $85.45 as Bitwise clients resumed purchases through the BHYP fund. The product added $10.5 million in HYPE on Friday after recording no purchases for four consecutive days. Arkham data identifies the transaction as BHYP’s largest daily addition since a $23.2 million purchase on August 27.
Total acquisitions have now reached $166.3 million since launch, placing BHYP above rival HYPE products by size. Meanwhile, Hyperliquid bought and burned 9,730 HYPE worth about $829,500 within 24 hours. The two flows pair renewed regulated demand with a steady reduction in the token’s available supply during market strength.
Hyperliquid (HYPE) Price HYPE Price Finds Support From Bitwise ETF Accumulation BHYP’s renewed activity ends a brief pause that followed several weeks of institutional accumulation. Friday’s $10.5 million purchase represents about 123,000 HYPE at prices near $85.27. The estimate shows the scale of demand entering through one regulated product.
Bitwise launched the spot Hyperliquid ETF in May, offering investors indirect exposure to the Hyperliquid token. The fund also stakes a large portion of its holdings through Bitwise’s internal infrastructure. Staking can add token rewards, although the structure carries operational, liquidity and slashing risks.
Arkham’s figures place cumulative purchases at $166.3 million since launch. That total makes BHYP the largest HYPE ETF by reported size. It also signals that the four-day buying gap did not mark a clear end to client demand.
BITWISE IS BUYING HYPE AGAIN
Bitwise’s BHYP clients didn’t buy any HYPE for 4 days straight. On Friday they bought $10.5M, the biggest day for BHYP since buying $23.2M on August 27.
Bitwise has now bought $166.3M since launch, making it the LARGEST HYPE ETF. pic.twitter.com/l8J01rwinf
— Arkham (@arkham) September 5, 2026
The purchase came while HYPE price held near the upper end of its recent range. Market data placed HYPE price near $85.45, up about 1.5% over 24 hours. HYPE also traded roughly 3% below its $88.06 record, reached on September 3.
Friday’s session ranged from about $83.73 to $86.15. Buyers therefore absorbed weakness below $84 before lifting the token back above $85. Immediate resistance sits near $86.15, followed by the record zone between $87.66 and $88.06.
A sustained move above that area would establish fresh price discovery. Conversely, weakness below $83.70 could expose the September 2 area near $80.25. The ETF purchase offers measurable spot demand, but HYPE price direction still depends on broader trading flows.
Hyperliquid Burns $830,000 While Token Supply Contracts Onchain Lens data shows Hyperliquid acquired and burned 9,730 HYPE during the latest 24-hour period. The tokens carried an average purchase price of $85.27 and a combined value near $829,500. Network documentation states that the assistance fund permanently removes all HYPE from both circulating and total supply.
Lifetime burns have reached 48.42 million HYPE, based on the tracker. At the current HYPE price, those tokens would carry a market value near $4.14 billion. The removed amount equals about 4.84% of the original one-billion-token maximum supply.
HYPERLIQUID BURNS $830K HYPE IN 24 HOURS
Hyperliquid bought and burned 9.73K $HYPE (~$829.5K) over the past 24 hours at an $85.27 average price.
Lifetime:
· 48.42M $HYPE burned
· ~$4.14B at current value
· 4.84% of max supply permanently removed pic.twitter.com/SsqxWR2wRt
— Onchain Lens (@OnchainLens) September 6, 2026
This mechanism links activity on Hyperliquid with recurring market purchases. Trading fees support assistance-fund buying, while each burn reduces the number of issued tokens. Higher platform activity can therefore increase the pace of purchases without creating a fixed schedule.
The latest daily burn is small beside the token’s circulating supply. Still, repeated removals can matter over longer market periods, particularly when ETF demand absorbs additional coins. Friday’s BHYP purchase was almost 13 times larger than the reported 24-hour burn in dollar terms.
The current setup shows two verifiable flows operating together. BHYP provides regulated accumulation, while Hyperliquid’s fee mechanism removes token supply permanently.
The latest burn alone does not automatically raise market valuation because demand, liquidity and broader risk appetite also shape trading. BHYP shares also differ from direct token ownership and carry product-specific fees and risks.
HYPE price now sits between nearby support and its recent record. A break above $88.06 would confirm that buyers have cleared the latest supply area. Holding above $83.70 would preserve the short-term rebound structure established after Friday’s intraday decline.
UBS, Bank of Montreal a Jane Street patří mezi první institucionální držitele Hyperliquid ETF. Celkem 30 institucí nahlásilo pozice za 74,9 milionu USD.
Banks, asset managers, and trading firms have revealed notable positions in US-listed Hyperliquid exchange-traded funds (ETFs), marking a growing institutional interest in these investment vehicles. UBS, Bank of Montreal, and Jane Street have been identified among the earliest institutional participants in these Hyperliquid ETFs.
Major institutional investors revealedA total of thirty institutions collectively reported holdings of $74.9 million across three Hyperliquid ETFs, according to James Seyffart, an ETF analyst at Bloomberg Intelligence. Wealth High Governance Asset Management emerged as the largest institutional holder, controlling 632,614 shares of 21Shares’ THYP fund valued at $23.95 million. OLP Capital Management followed as the second-largest stakeholder, with its ETF position totaling $10.5 million.
UBS disclosed $7.5 million in Hyperliquid ETF holdings, ranking as the third-largest institutional participant. Bank of Montreal reported $6.7 million, while Jane Street held $4.4 million in the funds. Combined, these five largest holders account for roughly $53 million, representing about 71% of all reported positions. Other notable institutional participants include Discovery Capital, Brevan Howard, Balyasny Asset Management, and Boothbay Fund Management.
InstitutionHoldings in Hyperliquid ETFs (USD)Wealth High Governance Asset Management$23.95 millionOLP Capital Management$10.5 millionUBS$7.5 millionBank of Montreal$6.7 millionJane Street$4.4 millionGrowth in HYPE exposure through ETFsThese developments signal increasing exposure to the HYPE token through regulated investment vehicles rather than direct interaction with Hyperliquid. ETF offerings provide investors with the ability to gain access via established brokerage accounts. Hyperliquid, the platform behind these products, operates its own blockchain and focuses primarily on perpetual futures markets.
US-based investors still face restrictions accessing Hyperliquid’s direct products. However, Payward, the operator of Kraken, reportedly is collaborating with the Commodity Futures Trading Commission (CFTC) to introduce regulated Hyperliquid-linked perpetuals in the US market.
Mini dictionary: Hyperliquid is a decentralized derivatives trading platform specializing in perpetual futures contracts. It operates its own blockchain to power these financial products, and its native token, HYPE, is used within its ecosystem.
Implications for market and regulationThe most recent disclosures stem from 13F filings, a quarterly requirement for institutional investment managers. However, analysts caution that this data provides only a partial view, as certain holdings may be omitted depending on reporting rules. Additionally, banks often maintain securities on behalf of clients and trading firms may use ETF positions for hedging.
Current 13F filings show 30 institutions invested $74.9 million in Hyperliquid ETFs, with the five largest accounting for about $53 million of those reported positions.
Attention is now turning to upcoming regulatory steps affecting Hyperliquid ETF flows and further portfolio disclosures. Hyperliquid’s scheduled token unlock on September 6, alongside ongoing buybacks of HYPE, are also expected to play a role in shaping market dynamics in the near term.
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.
Hyperliquid čeká 6. října odemykání 9,92 milionu HYPE v hodnotě asi 860 milionů USD, což může zvýšit tlak na cenu. Bitwise i spalování tokenů část nabídky absorbují, ale na tak velký objem nestačí.
Hyperliquid [HYPE] is heading into a major supply event, with core contributors set to receive another large chunk of HYPE tokens.
According to the Tokenomist data, on the 6th of September, contributors released just 0.19%, worth $36.56 million, far below the intended 2.32% scheduled allocation.
This gap matters because Hyperliquid faces another 9.92 million HYPE release on the 6th of October, valued near $860 million, representing nearly 3.9–4.5% of the circulating supply.
Needless to say, this creates a substantial risk of dilution if contributors claim and sell heavily.
Source: Tokenomist Moreover, the price of these new tokens is significantly larger than the average daily spot volume. Essentially, this means heavy distributions could cause a tremendous decrease in market liquidity, ultimately putting downward pressure on the price.
However, the September scheduled supply may not reach markets immediately. Therefore, contributor wallet activity will help determine if the 6th of October token distribution causes true selling pressure or another small token distribution.
Bitwise adds $10.5M in HYPE demand While October introduces a potential supply increase, institutional demand is already building another side of HYPE’s liquidity equation. After four days without purchases, Bitwise’s BHYP clients bought $10.5 million in HYPE on on the 4th of September.
With each purchase averaging approximately $85 per token, this totals approximately 123,500 HYPE. Cumulative purchases by the BHYP investor base total $166.3 million.
As such, however, the $10.5 million spent on HYPE by BHYP investors on Friday equates to less than one percent of the 9.92 million tokens set to be unlocked as part of Hype’s October schedule.
Source: Arkham The difference here illustrates how BHYP cannot handle the headline unlock by itself should heavy contributions from participants occur. However, continued institutional demand will likely create softer incremental selling rather than eliminating it.
Furthermore, BHYP inflows would strengthen that buffer, while stalled purchases would leave market liquidity carrying more of the burden.
HYPE burns add another layer of demand The demand supporting HYPE extends beyond outside buyers. This is because Hyperliquid’s trading activity also creates continuous token purchases.
In the last 24 hours, $859,500 in fees generated $823,800 in HYPE-directed revenue as of writing. In turn, this funded purchases of 9,730 tokens.
Those tokens, worth $829,500, were bought near $85.27 before being permanently burned. This mechanism matters because every burn removes purchased HYPE rather than simply shifting tokens between holders.
Source: OnChain Lens According to OnChain Lens, lifetime removals of HYPE have reached 48.42 million HYPE. This accounts for only 4.84% of the 1 billion max HYPE token limit. Although current burns cannot match major unlocks anytime soon, they do continually lower the available pool of HYPE tokens over time.
Thus, increasing trade volume could provide a faster way for HYPE to continue growing internal demand by institutions.
Final Summary Hyperliquid [HYPE] faces a 9.92 million-token October unlock, with actual contributor claims determining the scale of supply pressure. Bitwise demand and Hyperliquid burns provide absorption but remain too small to offset heavy contributor distribution alone.
Po 16 letech nečinnosti se přesunulo 600 BTC z 12 raných těžebních bloků. Podle Whale Alert nešlo o Satoshiho a mince zamířily do nových peněženek, ne na burzy.
Somewhere out there, a miner (or miners) who earned Bitcoin when it was essentially worthless just moved 600 BTC that had been collecting digital dust since around 2010. At current prices, that stash is worth tens of millions of dollars. Whale Alert, the blockchain tracking service, identified the movement across 12 separate mining block rewards, each containing the original 50 BTC coinbase reward from Bitcoin’s earliest days.
The natural first question: is this Satoshi? The answer, according to Whale Alert’s analysis, is no. None of the 12 blocks show any connection to the patterns associated with Bitcoin’s pseudonymous creator.
Ghost coins come back to life Each of the 12 blocks dates back to roughly 2010, when Bitcoin mining could be done on a regular laptop and the price hovered somewhere between fractions of a penny and a few dollars. The 50 BTC reward per block was standard at the time, before Bitcoin’s first halving in 2012 cut that reward in half.
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The blocks appear to belong to anonymous individual miners rather than any known entity. What makes this movement notable is the sheer duration of dormancy. Sixteen years of inactivity followed by a sudden transfer raises eyebrows across the crypto community every single time it happens.
A pattern, not an anomaly This isn’t an isolated incident. On September 6, seven addresses tied to early miners moved a combined 350 BTC, valued at approximately $28 million at the time. That transaction followed the same playbook: coins from Bitcoin’s earliest era suddenly transferring to new, unlabeled addresses.
The key detail in both cases is where the coins went. They didn’t land on exchange deposit addresses. Instead, the transfers routed to fresh wallets with no known exchange affiliation. When dormant Bitcoin moves to an exchange, it typically signals intent to sell. When it moves to a new cold wallet, it looks more like housekeeping.
Throughout 2026, substantial amounts of early-era Bitcoin from wallets dating to the 2011-2014 period have also shown signs of reactivation. The cumulative effect is a steady drip of ancient coins waking up, creating a broader trend that on-chain analysts have been tracking closely.
Why dormant Bitcoin movements spook the market Even when the data suggests no selling intent, these movements carry psychological weight. The fear is straightforward: if early holders who accumulated Bitcoin at negligible cost start selling, the supply shock could pressure prices downward. A single miner from 2010 sitting on a few hundred BTC has a cost basis of essentially zero.
For traders watching on-chain flows, the distinction between exchange-bound transfers and wallet-to-wallet consolidation is critical. The former is a sell signal. The latter is closer to a vote of confidence.
That said, the mere visibility of these transactions can influence short-term sentiment. When Whale Alert flags a multi-million-dollar transfer from a dormant wallet, it gets amplified across social media within minutes. Traders who don’t dig into the destination details may react reflexively, creating brief volatility that has nothing to do with actual selling pressure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Na XRP Ledger se má za pět dní aktivovat aktualizace fixCleanup3_3_0, pokud si udrží podporu nad 80 % po dobu 14 dní. Zahrnuje 11 oprav pro Single Asset Vaults, Lending Protocol, AMM a další části sítě.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A major bundled fix amendment is scheduled to activate on the XRP Ledger mainnet in the next five days if validator support remains above the required threshold. According to XRPscan data, fixCleanup3_3_0 is scheduled for September 11 mainnet activation if it holds 80% support for a 14-day window.
XRP Ledger's amendment system uses a consensus process to approve changes that affect transaction processing. Fully functional transaction processing changes are introduced as amendments; validators then vote on these changes. If an amendment receives more than 80% support for two weeks, it passes, and the change applies permanently to all subsequent ledger versions.
The fixCleanup3_3_0 amendment was introduced in the XRPL software version release 3.3.0, launched in August, and is designed to strengthen several features across the network.
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fixCleanup3_3_0 quickly gained traction after it opened for voting on August 6, attaining a majority (that is, reaching 80% support) on August 28, following which the two-week activation timer began to tick, with five days now remaining.
XRP Ledger overhaul continuesThe fixCleanup3_3_0 amendment is a collection of fixes for Single Asset Vaults, the Lending Protocol, Automated Market Makers, the permissioned DEX, Checks, and pseudo-accounts, with 11 changes outlined.
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These include a fix to hybrid offers being removed from the open order book when the account that placed them loses access to the permissioned domain, and Automated Market Maker liquidity being included in quality estimates for permissioned DEX order books. The upgrade will also add further precision and rounding fixes for Single Asset Vaults and the Lending Protocol, which are currently in voting.
fixCleanup3_3_0 follows previous fix upgrades fixCleanup3_1_3 and fixCleanup3_2_0, which were activated on the XRPL mainnet in May and July, respectively. The fixCleanup3_1_3 amendment marked a collection of fixes for NFTs, Permissioned Domains, Vaults, and the Lending Protocol, while fixCleanup3_2_0 included fixes for Single Asset Vaults, the Lending Protocol, the permissioned DEX, Multi-Purpose Tokens, and permissioned domains.
The fixCleanup3_3_0 amendment gained 82.86% support, with 29 Yes votes out of 35, and is currently holding this threshold, with the potential for its activation in days.
Vitalik Buterin představil nový rámec pro validaci transakcí na Ethereu, který odděluje „akce“ od jejich závislostí. Podle něj to může zlepšit efektivitu i škálování sítě.
Vitalik Buterin, co-founder of Ethereum, has introduced a revised conceptual framework for processing transactions on the Ethereum network. He emphasized that separating transaction “actions” from their “dependencies” could unlock significant efficiency gains for future developments.
Transaction Components: Actions and DependenciesButerin stated that ongoing advances in account abstraction, cryptographic proof systems, and novel state models are bringing about a clearer delineation between the tasks a transaction performs, and the conditions that must be met beforehand. He highlighted work around Ethereum Improvement Proposal (EIP) 8141, the use of alternative state models, the introduction of keyed nonces, and experiments with recursive STARK-based mempools as key contributors to this emerging model.
He described “actions” as the tangible effects caused by a transaction, such as transferring tokens or interacting with smart contracts. By contrast, “dependencies” represent the requirements that must be met before those actions can be carried out. This distinction, according to Buterin, would enable developers to pursue optimizations tailored to each component.
Actions define what a transaction changes within Ethereum, while dependencies set out the prerequisites before those changes can take place.
According to Buterin, most Ethereum nodes currently combine validation and execution: they receive transactions, verify them against network rules, and then execute any approved operations. Decoupling these functions, he argued, could lead to performance improvements and more nuanced security guarantees.
Optimizing Dependencies and State ValidationButerin pointed out that many transaction dependencies can be reviewed in parallel, enabling more streamlined pre-checks before transactions reach inclusion in a block. He also noted that certain dependencies, particularly so-called “pure” dependencies, do not require live access to Ethereum’s global state. These, he said, present a prime opportunity for enhancement.
If implemented, mempools—the systems that collect pending transactions—could process and validate these pure dependencies only once, rather than requiring every network validator to repeat the same checks as blocks are created and confirmed.
Large batches of such validated dependencies may eventually be aggregated into a single succinct cryptographic proof, specifically a STARK, which could demonstrate the correctness of all checks in a single step.
Mini dictionary: STARK (Scalable Transparent Argument of Knowledge), a cryptographic proof technology designed for efficient, trustless verification of complex computations without requiring confidential setup or assumptions. STARKs are widely used in scaling solutions and privacy applications within blockchain networks.
Many dependencies can be checked in parallel, streamlining the validation process and reducing duplication across validators.
Buterin views this model as an important architectural shift. He suggested that these changes might form the basis for future updates, as Ethereum’s developers aim to keep evolving the platform for scalability and security.
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.
XRP zůstává nad úrovní 1,42 USD, ale další odklad amerického CLARITY Act prohlubuje regulační nejistotu kolem tokenu. Trh sleduje, zda se udrží support a zda cena prorazí nad 1,50 USD.
XRP price traded near $1.42 on Sunday, gaining 0.71% as cryptocurrency markets steadied after a volatile week.
Bitcoin price hovered at around $79,973, and Ethereum was at $2,499 as the market awaits the FOMC meeting on September 15-16th.
Nevertheless, XRP remained vulnerable to Washington politics with another Senate postponement of the CLARITY Act.
The legislation could define regulatory roles for the Securities and Exchange Commission and Commodity Futures Trading Commission.
CLARITY Act Delay Extends Regulatory Uncertainty Senators postponed action before recess after lawmakers failed to settle several political and policy disagreements.
The Senate returns September 14, leaving lawmakers a narrow window before election campaigning further limits available floor time.
Any procedural cloture vote would require 60 senators, making bipartisan support essential for the bill to advance.
🇺🇸 CLARITY Act Could Be Delayed AGAIN
The U.S. House just canceled its final two September voting weeks, leaving lawmakers with only 4 days to get work done before the midterms.
That puts the CLARITY Act in a much tighter spot.
If the Senate changes the bill, the House may need… pic.twitter.com/Z2jWsKylR4
— Crypto Patel (@CryptoPatel) September 5, 2026
Disputes include ethics restrictions, stablecoin rewards, decentralized finance protections, and the balance between financial regulators.
The postponement does not formally defeat the measure, but it reduces time for negotiations and possible House reconciliation.
XRP held above $1.40 despite the setback, suggesting buyers still defend the token’s immediate support area.
Bitcoin’s ability to remain near $80,000 and Ethereum’s hold around $2,500 could also influence XRP’s next direction.
Traders will watch Senate scheduling updates closely, because further delays may keep regulatory uncertainty attached to XRP.
XRP ETFs Hold $1.48 Billion in Assets Despite Zero Daily Inflows On September 4, XRP spot exchange-traded funds had no daily net inflows, but cumulative inflows stood at $1.68 billion. Total net assets amounted to 1.69% of the overall market capitalization of XRP, totaling $1.48 billion.
Source: Sosovalue data Trading activity totaled $36.21 million as every listed fund closed lower during the session. Franklin’s XRPZ posted the steepest decline at 4.94%, narrowly exceeding Bitwise’s XRP fund’s 4.86% loss. Bitwise continued to dominate the market in general, with a net asset of $507.47 million and reported cumulative inflows of 599.31 million.
Will XRP Price Hold $1.40 Support Before Its Next Rally? The XRP price traded at $1.41 after holding above the important $1.40 support level on the four-hour chart.
The XRP price kept consolidating above $1.40, which indicates that buyers are still active within the immediate support of the market. The RSI was 54.92, with a balanced momentum and a slight bullish inclination.
Source: TradingView The MACD line fell a little below its signal line, which indicated a lower short-term momentum. A four-hour close above $1.50 would prove the resurgence of demand and create an avenue to $1.60. The inability to hold $1.40 may lead to increased selling pressure and the lower support target of $1.30.
Ethereum L2 dnes zpracovávají 94 % všech transakcí v ekosystému, zatímco mainnet zůstává hlavním centrem kapitálu. DeFi a tokeny L2 zároveň vedou růst trhu.
Ethereum’s wider network is gaining momentum as Layer 2 and DeFi tokens outperform other crypto market segments, coinciding with a significant uptick in on-chain activity.
Layer 2 Scaling Networks Dominate ActivityTrader Daan Crypto pointed to a clear rotation in the market, noting on Sunday that Ethereum, along with Layer 2 networks and DeFi tokens, led major crypto sectors over the previous week. His market analysis, which excluded smaller memecoins, suggested this rotation signals more than just a brief altcoin rally.
Recent blockchain data indicates that Ethereum’s Layer 2 scaling solutions have become dominant, now accounting for 94% of all transactions across the amalgamated Ethereum mainnet and Layer 2 environment.
According to growthepie, Ethereum Layer 2 networks currently handle approximately 29.95 million daily transactions, while the Ethereum mainnet processes just 1.97 million. In terms of computational output, L2s now represent 97% of the system’s total throughput, facilitating about 92.4 million gas units per second compared to just 2.52 million on mainnet.
NetworkDaily TransactionsGas Units/secValue SecuredEthereum Mainnet1.97 million2.52 million$162 billion (Stablecoins)Layer 2s (Total)29.95 million92.4 million$14.51B (Base), $12.47B (Arbitrum), $2.8B (Robinhood Chain)Leading Layer 2 platforms include Base, which secures $14.51 billion or 41% of total L2 value, and Arbitrum with $12.47 billion. Robinhood Chain has drawn particular attention after growing its secured value by more than 150% in 30 days, now reaching $2.8 billion.
The expansion of these networks is reflected in token markets. ARB, the native asset of the Arbitrum network, has surged over 120%, driven in part by increased activity associated with the Robinhood Chain.
Mini dictionary: Robinhood Chain is a relatively new Ethereum Layer 2 network designed to enhance scalability and reduce transaction fees within the Robinhood ecosystem, contributing to increased DeFi activity and token performance.
DeFi Activity Shifting, But Capital Base Remains on MainnetOver the last 30 days, Ethereum Layer 2 networks processed an estimated 337 million decentralized finance transactions. This represents approximately 99% of all Ethereum DeFi transactions, reflecting a near-total migration of activity from the mainnet to L2s.
Uniswap, a leading decentralized exchange, contributed more than 57 million Layer 2 transactions within the period, making it the most-utilized application in Ethereum’s L2 ecosystem by transaction count.
Uniswap emerged as the most heavily used Layer 2 DeFi application, generating more than 57 million transactions in the past month.
Despite this, the majority of capital remains on Ethereum’s mainnet. The main network holds around $162 billion in stablecoins, dwarfing the $12 billion present on Layer 2 networks. Meanwhile, institutional data places the mainnet DeFi total value locked (TVL) close to $49 billion.
ETH is currently trading near $2,500, recovering from $2,390 earlier in the week. Ethereum exchange-traded funds have continued to report net inflows, reinforcing ongoing institutional interest amid a broader return of demand for crypto investment products.
Two-Tiered Ecosystem EmergesThe Ethereum ecosystem is now separated into distinct layers: Layer 2 networks are responsible for processing the vast majority of activity, while the mainnet remains the primary hub for capital allocation and settlement.
Layer 2 platforms fuel record transaction volumes, while Ethereum mainnet retains its role as the asset and liquidity center.
This division may explain why current market strength is spreading from ETH itself to DeFi and Layer 2 tokens, rather than being isolated as a simple upward move in Ether’s price alone.
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.
PANews, September 6 – Harmony has released two proposals to fully shut down its mainnet, which has been online since 2019, migrate its native token ONE to Ethereum, and pivot to an AI video "mashup economy" business. The team stated that threats from state-level attackers and AI agents are the reasons behind the plan to shut down the network.
The migration plan proposes to take a snapshot of tokens in user wallets, staking delegations, validator rewards, smart contracts, and centralized exchange accounts at the final block of the network, and airdrop new ONE tokens to the same wallet addresses on Ethereum, with no active claim required by holders. Delegated staking and unclaimed rewards will be airdropped to respective governance treasuries. The total supply of ONE and its issuance rate will remain unchanged, with newly issued tokens intended for the new business, and will seek governance feedback. Multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated; the team urges users to exit all smart contracts by September 10, 2026, and plans to make the token contract, snapshot calculations, and airdrop scripts public for audit.
Validators can stop running nodes starting from 22:00 Beijing time on September 10, 2026. The team plans to compensate validators for the difference in issuance rewards between node shutdown and the final block of the network, and will establish a one-time compensation pool of $1.372 million, paid out over four quarters to validators and their delegators who shut down on time, sign agreements, retain their stake, and serve as governors for the new project.
The new business will open prompts and materials for users to create derivative works, with AI agents expanding video stories, and will recruit operators responsible for video generation, distribution, and content moderation. Harmony plans to subsidize GPU hardware in the first year and drive video generation demand; operators must stake tokens and receive rewards based on service uptime. The team aims to help operators generate up to $1 million in total revenue in the first year, subject to staking and uptime requirements. Promoters can initially earn a 30% ongoing commission from the $10 monthly subscriptions they refer. Both proposals are non-binding, and the plans may still be adjusted.
AI video business proposal: https://x.com/harmonyprotocol/status/2096604013940838667
Cardano za posledních 7 dní vzrostlo o 17 % a velcí držitelé přikoupili 60 milionů ADA. Objem na DEX v síti se za 48 hodin ztrojnásobil z 2,01 milionu USD na 7,28 milionu USD.
Cardano (ADA) traded near $0.224 on Friday, marking a strong week of upward movement following gains across major support levels. The digital asset climbed 17% over the past seven days, supported by growing on-chain activity and a surge in purchases by large wallet holders.
Analysts see breakout potentialTechnical analysts on X have turned positive on ADA’s price potential. One market commentator projected that Cardano could rally as high as $2.92—representing nearly 14 times its current value—if bullish momentum persists. This optimistic outlook follows ADA’s continued testing of key resistance areas throughout the week.
Commentator Sssebi shared their views on social media, stating that ADA’s persistence at resistance levels increases the probability of a breakout. As ADA traded within these zones, Sssebi emphasized the coin’s resilience and ongoing optimism among traders.
$ADA is showing persistence at resistance levels. The longer it remains in this range, the greater the potential for a breakout, according to market observers.
DEX activity and on-chain data signal growthBlockchain analytics provider DeFiLlama reported a dramatic surge in decentralized exchange (DEX) trading on the Cardano network. Within a 48-hour period, trading volumes soared from $2.01 million to $7.28 million, signaling heightened user engagement and investor interest.
Santiment, an analytics firm specializing in blockchain data, indicated that Cardano wallets holding between 1 million and 10 million ADA collectively purchased an additional 60 million tokens starting Sunday. This wave of accumulation from large holders provided consistent upward price pressure during the week.
The total value locked (TVL) in Cardano’s decentralized finance (DeFi) ecosystem increased notably as well, rising from 268.47 million ADA on August 28 to 299.81 million ADA. The blockchain is also set to integrate DeFi platform RealFi on October 1, aiming to further expand its decentralized finance offerings.
Mini dictionary: RealFi, short for “Real Finance,” is a DeFi platform that aims to connect real-world assets and financial activities to blockchain-based decentralized protocols.
Derivative market analytics from CoinGlass showed a long-to-short ratio of 1.10 for ADA, approaching the month’s high. Futures funding rates turned positive at 0.0087% on Friday, reflecting an overall bullish bias among leveraged traders.
MetricValueChange/TimeframePrice (ADA)$0.224+17% past 7 daysDEX Volume$7.28 millionTripled in 48 hoursLarge Holder Accumulation60 million ADASince SundayTVL299.81 million ADAIncrease of 31 million ADA since Aug 28Long/Short Ratio1.10Highest in a monthFunding Rate0.0087%FridayTechnical indicators show bullish setupCardano is trading above both its 50-day and 100-day exponential moving averages (EMA), although it remains slightly below the 200-day EMA. The relative strength index (RSI) stands at 64, suggesting firm bullish momentum without entering overbought territory. The MACD technical indicator recently crossed into mildly positive territory as well.
Key resistance is identified at the 61.8% Fibonacci retracement near $0.231 and $0.236, while the 200-day EMA stands at around $0.245. Immediate support lies at $0.213 with additional stability provided by the 100-day EMA at $0.198.
Despite positive breadth in multiple metrics, total stablecoin market capitalization on Cardano has contracted slightly from $67.95 million to $63.97 million, according to DeFiLlama.
ADA is currently above mid-term moving averages, but technical analysts highlight ongoing resistance near $0.231 as a key marker for future momentum.
Continued accumulation by large holders, combined with rising DEX activity and a favorable derivatives outlook, has contributed to positive sentiment throughout the Cardano ecosystem.
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.
Chilská burza Orionx ukončuje činnost poté, co audit odhalil, že více než 7 milionů USD v úschově bylo přesunuto do peněženek, které nespravovala. Výběry jsou dočasně pozastaveny.
Orionx, a Chilean crypto exchange backed by USDt stablecoin issuer Tether, is shutting down after uncovering a multimillion-dollar issue linked to asset custody.
The exchange said it began a permanent closure process after a forensic audit found more than $7 million in custodial assets had moved to wallets it did not manage, according to a company announcement shared on X on Thursday.
“Our sole priority now is to return as much of our clients’ assets as possible,” Orionx said, adding that withdrawals are temporarily suspended.
The closure comes just 15 months after Tether led Orionx’s Series A as part of its push to expand digital asset adoption in Latin America.
Orionx leaves timing of $7 million transfers unclearOrionx’s post did not specify when the more than $7 million in transfers occurred or how the discrepancy was initially uncovered.
As part of its efforts to comply with Chile’s Fintech Law, Orionx conducted a review of its operations in 2025 and brought in financial professionals, according to the major Chilean newspaper La Tercera, citing the company’s criminal complaint.
On Aug. 27, chief operating officer Thomas Mac Millan detected a “significant mismatch” between balances recorded in Orionx’s systems and assets actually held in custody, according to the complaint.
An internal review followed, and Orionx later commissioned an external forensic audit that compared its records with data verifiable onchain. The audit found that balances recorded in Orionx’s systems exceeded the assets held at its custody addresses for Bitcoin (BTC), Ether (ETH), XRP and Polygon (POL).
The criminal complaint reportedly alleges that assets were transferred out of Orionx’s custody between 2018 and 2021, including to accounts on other crypto platforms.
Orionx accuses co-founders, who deny wrongdoingOrionx said it filed a criminal complaint on Wednesday against former executives Roberto Zibert and Joaquín Díaz, both co-founders who allegedly had access to the company’s crypto custody systems.
The complaint alleges that an account associated with Díaz received more than $1.5 million across 14 transfers, while another wallet allegedly received 187 Ether, more than 4.1 million USDt (USDT) and 200,000 USDC from Orionx, La Tercera reported.
Former executive and Orionx co-founder Roberto Zibert. Source: LinkedIn
Zibert and Díaz denied the allegations, saying they never acted against customers’ interests and that the cause of Orionx’s asset shortfall remains unclear.
Tether backed Orionx in 2025Founded in Chile in 2017, Orionx grew from a retail crypto exchange into a platform offering crypto payment and financial services in Chile, Peru, Colombia and Mexico.
Tether invested in Orionx in June 2025, exclusively leading the exchange’s Series A funding round, according to an archived version of Tether’s announcement. The announcement is no longer available on Tether’s website.
Cointelegraph contacted Tether and Orionx for comment but had not received a response by publication.
Magazine: Tether sued over $42M in frozen coins, 6,600 students get crypto loans: Asia Express
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Tether drží přes 122 miliard USD v přímých pokladničních poukázkách a celková expozice přesahuje 141 miliard USD, čímž se řadí mezi největší kupce amerického dluhu. V roce 2025 nakoupila čistě 28,2 miliardy USD státních dluhopisů.
Tether, the company behind the world’s largest stablecoin, is quietly becoming one of the most important buyers of US government debt. With over $122 billion in direct Treasury bill holdings and a total exposure exceeding $141 billion when indirect positions are included, the firm has already outpaced several sovereign nations in its appetite for American paper.
From stablecoin issuer to Treasury heavyweight Every USDT token in circulation needs to be backed by reserves, and Tether has chosen to park the vast majority of those reserves, roughly 83%, in US Treasury bills. As USDT’s market cap has ballooned to approximately $185 billion, the company has been forced to hoover up T-bills at a pace that would make most central banks raise an eyebrow.
In 2024, Tether made net Treasury purchases of $33.1 billion. That was enough to rank it seventh among all foreign buyers of US debt. In 2025, the figure came in at $28.2 billion, again landing in seventh place globally.
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Tether has described itself as the fifth-largest purchaser of US Treasuries when hedge fund activity is excluded from the rankings. The company’s CEO has stated expectations that Tether will climb into the top 10 purchasers of T-bills in 2026, driven by continued USDT growth and new product lines.
What’s fueling the growth Tether reports adding approximately 30 million new users per quarter, bringing its total user base to around 530 million. Each new user who acquires USDT effectively triggers demand for more reserve assets, and Tether’s reserve policy channels that demand straight into the Treasury market.
This flywheel generated over $10 billion in profits for Tether in 2025, almost entirely from the yield on its Treasury portfolio.
US Treasury Secretary Scott Bessent has publicly discussed the potential for stablecoin issuers to become a structural source of demand for T-bills, projecting that the sector could eventually absorb between $800 billion and $1 trillion in Treasuries as it scales.
Why Washington isn’t complaining Stablecoin legislation moving through Congress would formalize reserve requirements that effectively mandate Treasury holdings, creating a regulatory framework that locks in this demand. Tether’s 83% allocation to Treasury bills is a far cry from the opaque mix of commercial paper and other instruments that drew scrutiny in earlier years.
The risks that come with scale If USDT ever experienced a rapid redemption event, Tether would need to liquidate tens of billions in T-bills in a compressed timeframe. Treasury bills are among the most liquid instruments on earth, but selling $50 billion or more in a panic scenario could still create ripples in short-term funding markets.
Competitors like Circle, which issues USDC, also hold substantial Treasury reserves but at a smaller scale. As stablecoin legislation takes shape, the reserve requirements embedded in new laws could push the entire sector deeper into Treasuries, potentially validating Bessent’s $800 billion to $1 trillion projection.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Kalshi spustila krypto perpetual kontrakty na BTC, ETH, BNB, LINK a dalších 14 aktivech s pákou až 6x. Přichází to v době, kdy se platforma dál přetahuje se státními regulátory i Nejvyšším soudem.
Kalshi has just reached a milestone. The predictive markets platform recorded 15.4 million visits from the United States in July 2026, compared to barely 1 million a year earlier. That’s an increase of 1,520%, according to Similarweb data consulted by Cointelegraph on Friday. Trading volume is rising at an even faster pace. Approximately 40 billion dollars in notional monthly volume in August, compared to 874 million a year before. But the information that really changes the game is elsewhere. Kalshi has just launched crypto perpetual contracts, including BTC, ETH, BNB and 14 other assets, with up to 6x leverage. A pivot that complicates an already heavy regulatory file.
In brief Kalshi now captures most of the growth in the predictive markets sector, driven by sports contracts. The platform is playing its regulatory survival before the Supreme Court on the exact nature of its contracts. In the midst of a legal battle, Kalshi chooses to open a second front by launching leveraged crypto perpetuals. Kalshi: Vertigo-Inducing Traffic and Volumes The numbers speak for themselves. US traffic represented nearly 80% of Kalshi’s total in July, compared to 72.8% a year earlier. Growth remains massively concentrated on the American market. Sports contracts, meanwhile, account for 83% of July’s trading volume, reported Barron’s on Thursday. In terms of volume, the entire predictive markets industry has grown from 2 to 50.7 billion dollars monthly over the period, with Kalshi capturing nearly 79% of the total alone. So Kalshi hasn’t just grown, it has absorbed the entire market.
The notable fact here is that traffic is also increasing from jurisdictions where Kalshi is not allowed to operate directly:
Canada increased from 50,000 to 450,000 visits; The United Kingdom from 31,000 to 296,000, while the platform’s user agreement still prohibits direct access from these two countries. Kalshi circumvented the issue in June through a partnership with Wealthsimple, which gives access to about 4,000 eligible contracts via a separate app. Clever, but it doesn’t erase the fundamental question. Who accesses what, and under what authorization?
A Court Case that Has Reached the Supreme Court While traffic explodes, the courts are active. New Jersey has brought before the US Supreme Court the question of whether Kalshi’s sports contracts fall under federal supervision (thus the CFTC) or state gambling laws specific to each state. Michigan is pursuing its own efforts to block the platform. The issue is not cosmetic because if sports contracts are reclassified as bets under state jurisdiction, a significant part of Kalshi’s model, 83% of the volume, becomes fragile in its main markets.
Kalshi is playing a double-edged sword here. On the one hand, it claims federal status as an event contract market, regulated by the CFTC for years. On the other hand, the bigger the platform grows, the more it attracts state regulators’ attention, who see in this success proof that Kalshi is effectively disguised sports betting.
The Crypto Shift that Incorporates a Regulator And now Kalshi adds another layer. On September 4, the Kalshi Crypto account announced on X the launch of perpetuals on BNB, complementing an offering that already covers BTC, ETH, LINK and 14 other cryptos, with leverage up to 6x for eligible American traders. An extension confirmed the same day by a post relaying the announcement on the network. The platform is also pushing, according to the same publications, towards tokenized stocks and gold.
To say it frankly, the timing is bold because Kalshi is already fighting before the Supreme Court to prove that it is not a disguised bookmaker. And it chooses this precise moment to launch 6x leverage on cryptos, a territory that clearly falls under the CFTC’s eye for classical derivatives. Instead of simplifying its regulatory file, Kalshi has opened a second front. This time on leveraged crypto derivatives, while the first, sports contracts vs. gambling, is not even resolved yet.
Three Things About Kalshi to Keep in Mind US traffic up +1,520% in one year, 15.4 million visits in July, compared to less than 1 million in August 2025 Kalshi is about 40 billion dollars, driven to 83% by sports contracts, while litigation over their status rises to the Supreme Court New regulatory front opened at the beginning of September: launch of crypto perpetuals (BTC, ETH, BNB, LINK + 14 assets) up to 6x leverage Kalshi is therefore growing faster than its regulatory base can keep up. Between the Supreme Court and the CFTC, two fronts are opening at the same time: sports and crypto. The question is no longer whether a regulator will decide, but which one will tackle it first.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Binance spustila perpetuální kontrakty pro PONS a HAJIMI. PONS po zprávě vystřelil na nové maximum kolem 0,93 USD, zatímco HAJIMI zůstává kolem 0,072 USD.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
World's biggest crypto exchange Binance officially expanded its derivatives lineup today, launching perpetual contracts for two fundamentally different assets: the utility token PONS (Robinhood Chain) and the meme coin HAJIMI (BNB Smart Chain).
When setting the trading conditions, the exchange applied a differentiated approach to risk management: leverage of up to 20x is available for PONS, while leverage for the highly speculative HAJIMI is strictly capped at 3x.
Binance listing market reaction for HAJIMI and PONS tokens, Source: TradingViewThe listings triggered an immediate influx of liquidity onto the exchange, reflected in a vertical surge in trading volumes on TradingView charts, and opened a window for a major on-chain attack.
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The difference in available leverage stems from the projects' different natures and business models. PONS is the native utility token of Pons, the dominant launchpad on Robinhood Chain, an Arbitrum-based L2 network.
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Its deflationary model is built on automatic PONS buybacks and burns funded by fees. Following the news, the asset hit new highs around $0.93, with a daily trading volume of $20.39 million, while its market capitalization is already approaching $1 billion.
In contrast, HAJIMI is a pure meme coin on BNB Chain, launched through the four.meme platform. The asset is fueled exclusively by hype within the Asian community, while the conservative 3x leverage cap underscores its extreme volatility. HAJIMI is currently holding around $0.072, with a trading volume of $26.66 million.
How one bot hijacked the entire listing while everyone else was reading the push notificationImmediately after Binance published its announcement, a technological drama unfolded in the HAJIMI meme coin market. Automated algorithms captured the entire initial wave of liquidity ahead of retail traders.
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According to on-chain analyst EmberCN, at exactly 13:55:12 UTC — the very second the news broke — a news trader carried out a successful MEV attack (front-running):
Hidden costs: To secure the very top position in the block, the bot sent its transaction through a private RPC channel directly to the BNB48 Club validator node, paying a bribe of 35.3 BNB ($26,800) and another 5.5 BNB ($4,200) in priority gas fees.Trade and profit-taking: After spending $31,000 on fees, the bot was the first to buy 9.89 million HAJIMI for $200,000 at $0.02 per token and, a few minutes later, sold its entire position into the incoming wave of orders at an average price of $0.058, locking in $378,000 in net profit.Trading in both pairs continues amid heightened volatility.
Circle přidala do cirBTC Chainlink Proof of Reserve, takže rezervy bitcoinu lze nyní sledovat on-chain. Reportované rezervy podle Circle přesahují aktuální nabídku tokenu.
6 September 2026 | 10:06 Circle has added Chainlink Proof of Reserve to cirBTC, giving users and blockchain applications an onchain way to monitor the Bitcoin backing Circle’s wrapped token.
Key Takeaways Chainlink publishes cirBTC reserve data onchain. Reported reserves exceed the current token supply. The reserve feed is not an audit. Reserve-linked minting controls were not announced. Direct access remains focused on qualified businesses. What Chainlink changes for cirBTC Native Bitcoin cannot move directly through Ethereum smart contracts. Wrapped tokens address that limitation by keeping BTC on the Bitcoin network while issuing a corresponding token on a programmable blockchain.
Circle’s cirBTC is already live on Ethereum and is designed to maintain at least one BTC in reserve for every token issued. It can be used in compatible applications without requiring its holder to sell the underlying Bitcoin exposure.
The September 4 update changes how that backing can be monitored. Under Circle’s reserve-verification model, the company discloses the Bitcoin addresses holding cirBTC reserves, while Chainlink Proof of Reserve publishes verified reserve information onchain.
Unlike a conventional reserve webpage, an onchain feed can be read by smart contracts and automated risk systems. A lending protocol could compare reported reserves with cirBTC supply before accepting the token as collateral, provided its developers connect the feed to the protocol’s risk controls.
Reported reserves exceed cirBTC supply Circle’s live cirBTC dashboard listed approximately 40.03 cirBTC in circulation against 42.51 BTC held in the disclosed reserve addresses in its September 5 reading.
cirBTC reserve reading
Circle dashboard data dated September 5, 2026, at 8:00 a.m.
TOKEN SUPPLY
40.03 cirBTC
BTC RESERVES
42.51 BTC
CALCULATED SURPLUS
2.49 BTC
CALCULATED COVERAGE
106.21%
The surplus and coverage ratio are calculations based on Circle’s published figures. The coverage figure divides reported BTC reserves by cirBTC supply, treating each cirBTC as a claim backed by one BTC under Circle’s stated model.
Reserves exceeded supply by approximately 2.49 BTC at that reading, although Circle has not described the difference as a permanent reserve buffer. The values will change as tokens are issued or redeemed and as BTC moves between the disclosed addresses.
CirBTC’s current supply is still small. If it becomes widely used across lending markets and exchanges, stale reserve information, thin secondary-market liquidity or disrupted redemptions would carry greater consequences.
What the reserve feed can verify Chainlink helps users determine whether the BTC held in Circle’s disclosed addresses covers the cirBTC visible onchain. That is a narrower function than a financial audit, which would examine a broader range of assets, liabilities, controls and legal obligations.
The reserve reading also depends on Circle identifying all relevant addresses. Holders separately rely on the custodian protecting the BTC, the issuer processing eligible redemptions and the cirBTC smart contract operating correctly.
Circle says the backing assets are held through a group affiliate at Circle National Trust, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency. According to the company, the BTC is segregated from Circle’s corporate assets and held for the benefit of cirBTC holders.
The custody structure protects the underlying assets, while Chainlink makes the reported reserve data available onchain. A positive reserve reading does not guarantee immediate redemption or remove operational and smart-contract risks.
Circle has not announced an automatic minting safeguard Publishing reserve data allows users and applications to identify a potential mismatch. Preventing unsupported issuance requires an additional control connecting that data to cirBTC’s minting process.
Chainlink Proof of Reserve can support rules that stop new tokens from being created when verified backing falls below a required threshold. Circle’s announcement, however, describes reserve monitoring and onchain publication without saying that the cirBTC contract automatically blocks minting in such circumstances.
Available now
Machine-readable reserve information that can be compared with the amount of cirBTC in circulation.
Not confirmed
A contract-level rule that automatically prevents additional cirBTC issuance when verified reserves are insufficient.
Wyoming’s recent Chainlink integration illustrates the same design choice. As our analysis of Wyoming’s onchain reserve system explained, developers must decide whether the published figure remains a monitoring tool or becomes part of an enforceable minting rule.
For cirBTC, the feed currently improves detection. It cannot replace missing Bitcoin, complete a delayed redemption or correct a reserve shortfall by itself.
Direct redemption remains institution-focused Reserve coverage is only one part of a wrapped asset’s reliability. Holders also need to understand who can exchange the token directly for the underlying Bitcoin.
Circle’s developer documentation says qualified businesses can mint and redeem cirBTC through Circle Mint. The service uses the same API framework that Circle provides for USDC and EURC.
A trader may still be able to obtain cirBTC through an exchange or decentralized liquidity pool without qualifying for a Circle Mint account. That trader would depend on the secondary market or an eligible intermediary when leaving the position rather than redeeming directly with Circle.
The distinction becomes particularly important during periods of market stress. A fully backed token can temporarily trade below the value of its underlying asset when direct redemption is limited to a narrower group and secondary-market liquidity becomes insufficient.
Circle has used a similar institution-focused distribution model elsewhere. As shown by Standard Chartered’s integration of USDC minting and redemption, eligible institutions can access Circle-issued assets through regulated intermediaries without necessarily maintaining a direct relationship with Circle.
Liquidity and DeFi adoption are the next tests Circle plans to add native cirBTC support to Arc when the network’s mainnet launches, subject to approval, with further blockchain integrations expected later. Expansion across several networks would make aggregate supply tracking more important because all issued tokens would ultimately depend on the same underlying Bitcoin reserves.
CirBTC’s progress can be measured through its circulating supply, secondary-market liquidity, redemption access and acceptance as collateral. Protocol documentation will also show whether DeFi applications merely display the Chainlink reserve reading or use it to impose collateral limits.
The remaining technical question is whether Circle or integrated protocols will connect the reserve feed to controls that prevent additional issuance or exposure when verified BTC backing is insufficient.
The article is provided for informational purposes only and does not constitute investment advice.
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.
Uniswap V4 držel k 6. září tokenizované akciové vklady v hodnotě 59,1 milionu USD a byl největším DeFi místem pro tuto kategorii. Kamino Lend mělo 41,7 milionu USD.
Uniswap V4 held $59.1 million in tokenized stock deposits as of Sept. 6, making it the largest decentralized finance venue for the category, according to Token Terminal.
Summary
Uniswap V4 held $59.1 million in tokenized stock deposits, leading Token Terminal’s latest market snapshot. Kamino Lend ranked second with $41.7 million, while Uniswap V3 held another $20.9 million overall. The three platforms controlled approximately 63% of the category’s reported $192.6 million DeFi TVL combined. Solana hosted $79.1 million in deposited tokenized stocks, the largest blockchain total reported overall currently. Robinhood-issued stocks contributed $73.1 million, while xStocks supplied $63.9 million across DeFi venues combined overall. Solana-based Kamino Lend ranked second with $41.7 million. Uniswap V3 followed with $20.9 million, Token Terminal’s data showed. Together, the three venues accounted for $121.7 million, or approximately 63.2% of the measured category.
Total tokenized stock DeFi TVL stood at approximately $192.6 million. The figure measures equity-linked tokens deposited into decentralized exchanges, lending markets and related applications. It does not represent the total value of tokenized equities issued across blockchains.
Token Terminal defines total value locked as the value of onchain deposits and, in some cases, the tokenized value of user deposits made offchain. The metric changes when assets enter or leave protocols and when the prices of the underlying shares move.
Tokenized stocks deposited into Uniswap V4 total $59.1M, making it the largest DeFi venue for the category
Kamino Lend follows at $41.7M and Uniswap V3 at $20.9M
Together, the three venues account for 63% of total tokenized stock DeFi TVL pic.twitter.com/PDlwDIS8uZ
— Token Terminal 📊 (@tokenterminal) September 5, 2026 Uniswap V4 leads through tokenized stock liquidity Uniswap V4’s $59.1 million primarily represents tokenized shares supplied to liquidity pools. Users deposit paired assets into these pools so other participants can trade without relying on a conventional order book.
Uniswap V3 held another $20.9 million, bringing the two versions’ combined tokenized stock deposits to $80 million. That equals approximately 41.5% of the $192.6 million measured by Token Terminal.
The comparison between Uniswap and Kamino requires context. Uniswap is a decentralized exchange, meaning its deposited assets primarily support token swaps and market liquidity. Kamino Lend is a lending protocol where tokenized stocks can serve as supplied assets or collateral.
Both activities count toward DeFi TVL, but they perform different functions. Exchange liquidity supports trading. Lending deposits let holders borrow against their positions or receive interest from borrowers. TVL alone does not measure trading volume, borrowing demand or revenue.
The growth forms part of a broader rise in productive uses for tokenized assets. Real-world asset deposits across decentralized applications increased from $2.3 billion to $7.4 billion between the second quarters of 2025 and 2026. During that period, tokenized asset spot volume grew approximately 220% even as wider decentralized exchange activity declined.
Tokenized stock DeFi TVL remains concentrated The three leading venues controlled more than three-fifths of the measured category. All remaining applications collectively held approximately $70.9 million in tokenized stock deposits.
That concentration creates operational dependencies. A technical failure, pricing problem or major liquidity withdrawal at one leading venue could affect a considerable portion of the market. However, the deposits remain distributed across separate smart contracts and blockchains.
Token Terminal’s network breakdown showed that Solana hosted $79.1 million in tokenized stock DeFi deposits, the largest total among tracked blockchains. Kamino accounted for a substantial share, alongside other Solana trading and lending applications.
Robinhood Chain and Ethereum also hosted material deposits. Robinhood launched its mainnet in July as an Ethereum Layer 2 supporting equity-linked tokens and decentralized applications. Eligible users can trade tokenized stocks and deploy them within DeFi, including through lending pools and decentralized exchanges.
Token Terminal’s issuer data showed another form of concentration. Robinhood-issued stocks contributed $73.1 million to DeFi TVL, while xStocks accounted for $63.9 million.
Together, Robinhood and xStocks supplied $137 million, or approximately 71.1% of the category total. Other issuers and tokenization providers accounted for the remaining $55.6 million.
Issuer concentration has also appeared in ownership data. In July, the number of tokenized equity holders across five platforms reached 752,000, following 92% growth over 30 days. Robinhood held a 44% share of those users, while Ondo and xStocks led by issued asset value.
Deposits do not always provide direct share ownership Tokenized stocks use different legal structures. Some are backed by conventional shares held with custodians. Others are structured as debt instruments or contractual claims designed to track an equity’s economic value.
Owning a token therefore does not always provide voting rights, dividends or the legal status of a conventional shareholder. Rights depend on the issuer’s terms, reserve structure, jurisdiction, custody arrangements and redemption process.
Token Terminal describes Robinhood’s tokenized SoFi product as providing one-to-one price exposure to the U.S.-listed company. Its description of Ondo’s tokenized ASML product says the asset is structured as a debt instrument whose payable value changes with the underlying security.
Robinhood’s products have attracted scrutiny over this distinction. AMC Entertainment CEO Adam Aron said his company had no role in Robinhood’s AMC-linked token. The products provide economic exposure without giving holders direct ownership in the represented companies, as AMC sought legal advice over unauthorized stock tokens.
Other providers are developing models intended to confer stronger ownership rights. Base and Coinbase have said they are preparing tokenized equities backed one-to-one by underlying shares. However, key custody and transfer details remain undisclosed, and no launch date has been confirmed.
These differences matter when tokens enter lending pools. Users assume the smart-contract risk of the DeFi venue alongside the custody, legal and counterparty risks attached to the underlying token.
DeFi deposits remain below total equity issuance The $192.6 million held in DeFi represents only part of the broader tokenized stock market. CoinShares and Token Terminal estimated that approximately $2.2 billion in equities had been tokenized during the second quarter.
The difference shows that most issued tokenized equities have not been deposited into decentralized lending or trading applications. Assets may remain in customer wallets, centralized platforms or issuer-controlled systems.
Tokenized stocks were already one of the fastest-growing real-world asset categories by holder count. However, onchain equities remain small beside global stock markets, which are valued in excess of $100 trillion.
FWDI and SPYx ranked among the largest individual assets deposited across the tracked venues, according to Token Terminal’s asset breakdown. Their positions indicate that both individual-company and broad-market products can attract onchain liquidity.
Trading has also become concentrated in particular products. Tokenized QQQ generated much of the category’s decentralized trading activity in July, when tokenized stock volume increased by 288%.
More tokenized equities could enter DeFi The range of assets available to DeFi applications is expected to grow. Payward plans to tokenize the 100 largest London-listed equities through its xStocks framework.
The London Stock Exchange intends to support the products through its planned LSE 24 venue, subject to regulatory approval. The collaboration will also examine issuer-sponsored equity tokens. The London Stock Exchange and Payward partnership could expand xStocks beyond its existing U.S., European and Asian-linked products.
The new London-listed xStocks are expected to appear on Kraken and other supporting platforms before the planned exchange integration. They are not currently available to U.K. investors, and their addition does not guarantee immediate deposits into Uniswap or lending protocols.
Future data will show whether Uniswap V4 retains its lead or whether lending markets capture more tokenized equity deposits. Relevant measures include pool liquidity, borrowing demand, collateral performance, trading volume and issuer concentration.
There was no verified market reaction directly attributable to Token Terminal’s report. UNI and KMNO respond to wider market conditions, while the deposited assets do not represent revenue belonging to either token’s holders.
Spoluzakladatel Offchain Labs Steven Goldfeder uvedl, že Robinhood na svém chainu drží zhruba 90 % čistých příjmů z protokolu. Robinhood Chain za 24 hodin vybral na poplatcích 6,04 milionu USD a ponechal si asi 5,44 milionu USD.
Offchain Labs co-founder Steven Goldfeder and Solana co-founder Anatoly Yakovenko exchanged competing views on Sept. 6 over why Robinhood built its blockchain using Arbitrum technology instead of operating applications directly on Solana.
Summary
Offchain Labs co-founder Steven Goldfeder said Robinhood retains roughly 90% of net chain revenue generated. Solana co-founder Anatoly Yakovenko argued Robinhood could instead monetize users through application-level fees directly itself. Robinhood Chain routes 10% of net protocol revenue to the broader Arbitrum ecosystem under agreements. Eight percentage points go to Arbitrum DAO, while two support its developer guild funding program. Robinhood Chain recorded $6.04 million daily fees, retaining approximately $5.44 million after costs and sharing. Goldfeder argued that Robinhood can retain roughly 90% of its chain revenue under the Arbitrum Expansion Program. A Solana-based application would pay network fees without receiving the underlying chain’s revenue, he said.
“Robinhood chose Arbitrum so they could be a landlord and not a tenant,” Goldfeder wrote. His comment responded to Yakovenko’s position that Robinhood could subsidize Solana transaction fees while charging users through its own application.
The debate followed a sharp rise in Robinhood Chain activity. The network recently collected $6.04 million in daily transaction fees and retained about $5.44 million after expenses and its Arbitrum revenue-sharing obligation.
I have a ton of respect for @toly but this is a ridiculous take. On Arbitrum, Robinhood keeps 90% of gas fees. On Solana they would retain 0 and any gas fees they subsidized would come out of pocket.
Robinhood chose Arbitrum so they could be a landlord and not a tenant. https://t.co/vWjBtn9PYh
— Steven Goldfeder (@sgoldfed) September 5, 2026 Robinhood keeps 90% of net revenue, not gross fees Goldfeder’s 90% figure reflects the Arbitrum Expansion Program’s share of net protocol revenue. It should not be interpreted as Robinhood automatically retaining 90% of every gross fee paid by users.
Under the program, Robinhood Chain sends 10% of its net protocol revenue to the Arbitrum ecosystem. Eight percentage points go to the Arbitrum DAO treasury, while two percentage points fund the Arbitrum Developer Guild.
Net revenue is calculated after relevant network expenses, including the cost of posting transaction data to Ethereum. Robinhood’s actual retained amount therefore depends on gross transaction fees, Ethereum data costs, infrastructure expenses and the Arbitrum payment.
The arrangement has already produced measurable results. Robinhood Chain collected a record $6.04 million in transaction fees during its latest 24-hour reporting period and retained approximately $5.44 million. The figures show the network keeping about 90% after associated costs and allocations.
The network also generated $20.33 million in revenue over seven days. Maintaining that rate for a full year would produce approximately $1.06 billion, but such annualization is only a projection based on a brief period of unusually high activity.
The latest Robinhood Chain fee record followed rapid growth in memecoin trading, token launches and decentralized exchange volume. GMGN, Pons and Uniswap accounted for much of the application activity.
Yakovenko says applications can collect fees on Solana Yakovenko’s argument focuses on the application layer. Robinhood could deploy its services on Solana, subsidize transaction costs and charge customers through its interface, avoiding the expense of operating a separate Layer 2 network.
This approach could work for transactions initiated through Robinhood’s application. Brokerages can charge commissions, spreads, subscription fees or service fees without controlling the blockchain underneath their products.
Goldfeder countered that this model would not capture value from activity occurring outside Robinhood’s interface. Third-party wallets, trading bots, decentralized exchanges and token launchpads can interact directly with blockchain contracts.
Robinhood would pay to subsidize transactions initiated by its customers on Solana but would receive none of the network fees produced by independent users. Solana validators and stakers would receive those fees instead.
On Robinhood Chain, the company operates the network’s sequencing infrastructure. This allows it to collect transaction fees from activity across the chain, including transactions that bypass Robinhood’s front end.
Recent data supports Goldfeder’s point about outside activity. Memecoin launchpad Pons and trading platform GMGN have become large contributors to Robinhood Chain’s traffic. Many transactions generated by those applications do not originate through Robinhood’s brokerage interface.
The economic distinction is therefore broader than the cost of individual transactions. Yakovenko’s model lets Robinhood monetize its customers at the application level. Goldfeder’s model lets Robinhood capture revenue generated across an entire network.
Robinhood Chain still pays Ethereum and Arbitrum Robinhood does not retain all the value generated by its blockchain. Robinhood Chain is an Ethereum Layer 2 built using Arbitrum Orbit, rather than an independent Layer 1.
The network uses ETH as its native gas token and posts transaction data to Ethereum using blobs, according to Robinhood’s documentation. Each transaction includes an execution component and a data-availability component.
The L2 execution fee covers computation performed on Robinhood Chain. The L1 data fee pays for publishing transaction information to Ethereum. Both components are bundled into the amount presented to users.
Robinhood also pays the Arbitrum ecosystem’s 10% share of net protocol revenue. Consequently, the “landlord” description refers to Robinhood’s control over its own chain and sequencer, not complete independence from outside infrastructure.
As an earlier examination of the revenue-sharing arrangement reported, Robinhood received a branded network, EVM compatibility, existing Ethereum tools and technical support in exchange for part of its net revenue.
Building a new Layer 1 could theoretically allow Robinhood to retain more revenue. It would also require the company to develop and maintain its own execution, consensus, bridging and security infrastructure.
Using Solana would remove the need to operate those components. However, Robinhood would become an application on infrastructure it did not control and would not collect the network’s transaction fees.
Gas subsidies complicate the revenue comparison Robinhood launched its chain with a 90-day gas subsidy for transactions conducted through Robinhood Wallet. The subsidy is scheduled to expire on Sept. 29.
The promotion means eligible wallet users do not directly pay gas during the subsidy period. Robinhood covers those costs. However, the subsidy does not necessarily cover every transaction conducted by independent applications and wallets across the network.
That distinction is central to the founders’ debate. Goldfeder argued that much of Robinhood Chain’s activity now occurs beyond the Robinhood front end. The company can collect fees from those transactions because it operates the underlying chain.
Robinhood Chain’s activity increased rapidly during the subsidy. Its daily decentralized exchange volume recently reached approximately $1.71 billion, while total value locked in native protocols stood near $1.17 billion.
The network has also exceeded Solana in daily chain revenue during some reporting periods. However, direct comparisons require caution because the networks have different cost structures, subsidies, fee markets and validator arrangements.
The Robinhood Chain and Solana comparison identified the subsidy’s expiration as a major test. User activity could fall when customers begin paying gas, or Robinhood could extend or restructure the program.
The fee debate will become clearer after Sept. 29 The first major test arrives when the gas subsidy expires. Post-subsidy data will show how many Robinhood Wallet users continue transacting when they must pay their own network costs.
It will also show whether independent activity from Pons, GMGN, Uniswap and other applications remains strong. These applications have contributed heavily to the network’s recent fee growth.
A detailed onchain investigation by Bitquery found that Robinhood Chain’s gas price increased roughly 25-fold within 11 days. The report attributed much of the additional demand to a limited group of heavily active wallets.
The concentration creates uncertainty over whether current fee revenue is sustainable. A decline in activity from several large addresses could reduce transaction fees even if total user numbers continue rising.
Robinhood has not publicly announced whether it will extend the subsidy beyond Sept. 29. It also has not disclosed how network revenue will appear in its financial reporting.
There was no verified movement in HOOD, SOL, ETH or ARB directly attributable to the founders’ exchange. Linking broader market fluctuations to their comments without additional evidence would be speculative.
The commercial question will remain whether owning a Layer 2 produces more value than deploying an application on an existing Layer 1. Robinhood Chain’s first unsubsidized operating period will provide the clearest evidence.
BNB Chain, the leading smart contract blockchain platform developed by Binance, has revised its transaction fee policy after years of concentrating on minimizing costs for users and developers.
Pivot in Fee Policy and Sustainable GrowthNina Rong, Growth Director at BNB Chain, stated in a recent presentation that reducing gas fees is no longer the network’s primary objective. Rong emphasized the importance of sustainable business models within blockchain projects, noting that generating consistent revenue through gas fees and revenue-sharing programs is now a priority for the platform’s development and infrastructure upkeep.
Previously, BNB Chain drove efforts to drastically lower transaction costs, managing to decrease fees by up to 0.05 Gwei. This strategy led to a more than 90% reduction in transaction expenses from earlier levels, attracting a surge of users and developers to the platform.
However, Rong highlighted the need for the industry to adopt a different direction, suggesting reliance solely on grants and continual fee reductions may not provide adequate resources for long-term blockchain growth.
Rong described blockchain sustainability as hinging on “a viable business model that supports ongoing infrastructure by generating revenue through transaction fees and strategic revenue sharing.”
Robinhood Chain’s Revenue Sharing Model Sparks DebateRong’s comments come as discussions intensify around transaction fees on the recently launched Robinhood Chain. This blockchain, operated by Robinhood Markets, has faced criticism for transaction fees reaching $0.40 per transfer, prompting debate over the appropriate balance between affordability and sustainability in the sector.
Robinhood Chain has responded by highlighting its income-sharing arrangement with the Arbitrum ecosystem, a prominent Ethereum layer-2 scaling solution. Within this framework, Robinhood Chain splits 10% of its revenue: 8% is allocated to the Arbitrum DAO treasury, while 2% supports ongoing development.
Mini dictionary: Arbitrum DAO, a decentralized autonomous organization supporting the Arbitrum network, decides on funding and governance for ecosystem projects.
BlockchainTransaction FeeRevenue SharingBeneficiariesBNB ChainAs low as 0.05 GweiTransitioning to revenue sharingNetwork development & infrastructureRobinhood ChainUp to $0.4010%: 8% Arbitrum DAO, 2% DevelopmentArbitrum DAO & DevelopersThrough this program, Robinhood Chain links the financial success of its blockchain to the wider Arbitrum ecosystem, creating shared incentives for both governance participants and developers.
Industry Prospects and the Future of Gas FeesIndustry experts see BNB Chain’s strategic shift as a practical response to having already captured much of the user base attracted by low fees. Additional fee reductions may offer diminishing returns, while a focus on sustainability could deliver longer-term benefits to blockchain networks and their communities.
As the sector evolves, competition may intensify around which platforms can sustain their growth and reward stakeholders, rather than simply offering the lowest fees.
Some analysts predict that if this approach gains traction, users could begin to view gas fees not just as a cost, but as a contributor to ecosystem growth and shared network progress.
The move by BNB Chain signals a potential turning point in how transaction fees are perceived across the industry, with revenue sharing emerging as a key consideration for blockchain business models.
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.
ARB za poslední měsíc vyskočil o více než 120 % díky růstu Robinhood Chain, která za 24 hodin vygenerovala přes 2 miliony USD na transakčních příjmech. RSI je kolem 85, což zvyšuje riziko krátkodobé korekce.
Arbitrum (ARB) surged from approximately $0.08 in late August to nearly $0.20 in September, marking one of its largest rallies in 2025. This move represents an increase of more than 120% from its recent low. The latest daily trading session alone saw an almost 10% jump in ARB price.
Robinhood Chain delivers revenue surgeRobinhood Chain, a dedicated Arbitrum-based network created by the trading platform Robinhood, appeared to drive the latest momentum. Over a 24-hour period, Robinhood Chain generated more than $2 million in transaction revenue, and 10% of its net protocol revenue is redirected to the Arbitrum ecosystem. If activity remains consistent, Arbitrum’s share could translate into an estimated annualized income of $73 million.
In late August, Robinhood Chain’s gross revenue sharply increased from about $54,700 on August 22 to more than $1.08 million by August 30. During the same period, Arbitrum’s matching stake grew from roughly $5,400 to $108,000. Key metrics across the Arbitrum ecosystem also showed notable improvement.
Mini dictionary: Robinhood Chain, a blockchain developed as part of Robinhood’s expansion into decentralized finance (DeFi), leverages Arbitrum’s technology to offer users faster and cheaper transactions compared to Ethereum mainnet.
Arbitrum ecosystem demonstrates rapid growthThe Arbitrum Foundation reported that its networks handled 478 million transactions during the first half of 2025. Stablecoin transfers on Arbitrum networks exceeded a monthly average of $70 billion. In the same period, ArbitrumDAO, the project’s decentralized autonomous organization, earned $6.19 million. In July, which marked Robinhood Chain’s first full month on mainnet, license fees from the Expansion Program made up 35% of the DAO’s revenue.
MetricValueTransactions (H1 2025)478 millionMonthly stablecoin transfer volume$70 billionArbitrumDAO earnings (H1 2025)$6.19 millionExpansion Program share (July)35% of DAO revenueMarket sentiment and technical outlookIntense speculative activity has added further energy to the rally. Open interest in ARB futures contracts rose sharply during the initial breakout phase as traders increased their exposure through new long positions. Since August 31, open interest climbed by an estimated 30%, magnifying leverage in an already expanding spot market.
Currently, ARB trades near $0.195 on the daily chart after reaching an intraday peak close to $0.206. The Relative Strength Index (RSI) stands near 85, well above typical overbought thresholds. This overextension in technical indicators suggests the risk of a short-term correction despite strong fundamentals stemming from Robinhood Chain’s performance.
Presently, the rally is fundamentally supported by growth in Robinhood Chain, but the pace of ARB’s rise increases the possibility of a market correction as technical factors indicate overbought conditions.
The 200-day moving average sits near $0.119, highlighting ARB’s significant overperformance relative to its long-term trend. Maintained support at the $0.17–$0.18 range could sustain the breakout structure. However, a breakdown below this zone may trigger a deeper retracement after the notable 120% climb.
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.
Bitwiseův HYPE ETF BHYP po čtyřdenní pauze obnovil nákupy a podle Arkham přikoupil HYPE za zhruba 10,5 milionu dolarů. Šlo o největší sledovaný nákup od 23,2 milionu dolarů 27. srpna.
Bitwise’s Hyperliquid exchange-traded fund resumed accumulating HYPE on Sept. 4 after four days without a tracked purchase.
Summary
Arkham tracked Bitwise-linked wallets purchasing approximately $10.5 million in HYPE after four inactive trading days. BHYP’s tracked HYPE purchases reached $166.3 million since launch, according to Arkham’s on-chain address attribution. Friday’s allocation was the fund’s largest tracked purchase since buying $23.2 million on August 27. Bitwise launched BHYP on NYSE Arca in May, providing direct exposure to the HYPE token. The trust uses Anchorage Digital Bank for custody and targets staking 70% of its assets. Wallets linked to the fund acquired approximately $10.5 million of the token, according to blockchain intelligence platform Arkham.
The allocation was BHYP’s largest tracked purchase since a $23.2 million transaction on Aug. 27, Arkham reported on Sept. 6. The platform estimates that Bitwise-linked addresses have accumulated about $166.3 million in HYPE since the product launched.
Arkham described BHYP as the “largest HYPE ETF.” That ranking relies on addresses identified by its analysts and the market value of tokens attributed to each product. Bitwise has not issued a matching announcement confirming the $166.3 million figure.
BITWISE IS BUYING HYPE AGAIN
Bitwise’s BHYP clients didn’t buy any HYPE for 4 days straight. On Friday they bought $10.5M, the biggest day for BHYP since buying $23.2M on August 27.
Bitwise has now bought $166.3M since launch, making it the LARGEST HYPE ETF. pic.twitter.com/l8J01rwinf
— Arkham (@arkham) September 5, 2026 Bitwise HYPE ETF resumed buying after four inactive days The $10.5 million transaction ended the longest recent gap in BHYP-linked accumulation reported by Arkham. However, the movement should not automatically be interpreted as one investor purchasing $10.5 million of fund shares.
Exchange-traded crypto products create and redeem shares through authorized participants. The trust may receive cash or tokens as part of that process, depending on its operating structure. Its HYPE acquisitions can therefore reflect net share creations, liquidity management or settlement activity involving several investors.
Blockchain data can identify transfers between labeled addresses. It cannot always reveal the commercial purpose of every transfer. Address ownership may also change, while internal custody movements can resemble purchases unless analysts identify the sending address and transaction route.
Arkham’s figures should consequently be treated as third-party estimates rather than audited fund-flow data. The reported four-day pause refers to activity involving wallets recognized by Arkham. It does not prove that the fund received no investor orders during that period.
Official filings confirm BHYP holds HYPE directly Bitwise announced BHYP in May as a U.S.-listed product designed to hold HYPE rather than derivatives tracking its price. The fund began trading on NYSE Arca on May 15 after commencing operations one day earlier.
Its SEC registration documents state that the trust primarily seeks to reflect the value of its HYPE holdings, minus operating expenses and liabilities. Bitwise markets the vehicle as an ETF, while its regulatory documents describe it as a Delaware statutory trust issuing exchange-traded shares.
The structure gives brokerage customers regulated exposure to HYPE without requiring them to maintain a crypto wallet or interact directly with Hyperliquid. Investors still face the token’s price risk, fund expenses, potential tracking differences and risks associated with crypto custody.
BHYP’s quarterly report names Anchorage Digital Bank as the trust’s HYPE custodian. The filing also confirms that part of the fund’s holdings can be staked to generate rewards.
Bitwise’s fund website lists a target of staking 70% of the trust’s assets. The BHYP product page reported a 2.25% gross staking reward rate and a 1.18% net rate in early September. Those rates can change and do not represent guaranteed returns.
The $166 million ranking depends on wallet attribution Arkham’s description of BHYP as the largest HYPE ETF is broadly consistent with the fund’s strong early demand. Still, the $166.3 million estimate should not be presented as official assets under management unless Bitwise publishes an equivalent figure.
Tracked token value can differ from a fund’s net assets. An ETF’s reported net asset value incorporates liabilities, cash, accrued fees and other accounting items. The dollar value of an identified wallet also moves continuously with HYPE’s market price.
Comparisons between HYPE products require consistent timestamps and valuation methods. Bitwise competes with products from 21Shares and Grayscale, among others. Grayscale prepared a fund carrying the HYPG ticker and a proposed 0.29% fee, according to coverage of the expanding HYPE ETF market.
BHYP attracted substantial demand soon after launching. Bitwise CEO Hunter Horsley reported approximately $19 million in daily inflows during May, when the fund recorded its strongest session at that time. That inflow helped BHYP take an early lead among HYPE products, as crypto.news reported.
HYPE-linked products collectively surpassed $100 million in reported inflows during their first ten trading sessions. The early total showed that regulated funds were becoming a measurable source of token demand, according to related coverage of institutional HYPE purchases.
ETF purchases are separate from Hyperliquid’s buybacks BHYP’s purchases form only one part of HYPE’s demand structure. Hyperliquid also operates a protocol mechanism that uses revenue from trading fees to acquire HYPE through its Assistance Fund.
Those purchases are not ETF inflows. They originate from activity on Hyperliquid’s trading platform and continue according to the protocol’s fee-allocation rules. Combining them with BHYP’s activity would overstate demand from investment products.
Hyperliquid had used more than $1.16 billion in fee revenue for HYPE purchases by late May, according to reporting on its automated buyback mechanism. The mechanism links HYPE demand to platform revenue, while ETF buying depends on investor creations and redemptions.
Bitwise has created another, smaller connection between its business and the token. The manager pledged to use 10% of BHYP’s management fees to purchase and hold HYPE on its corporate balance sheet. Those purchases belong to Bitwise rather than the ETF trust, making them distinct from the assets backing BHYP shares. The management-fee commitment therefore should not be counted as fund holdings.
What the next disclosures can confirm Bitwise’s official holdings, net asset value and shares outstanding offer the clearest way to test Arkham’s estimate. Changes in those figures can show whether the reported wallet accumulation corresponded with new ETF share creation.
Later SEC reports will provide audited or reviewed accounting information, although quarterly filings arrive after the transactions they cover. Daily fund disclosures may provide more current figures, but they can use valuation times that differ from Arkham’s live blockchain calculations.
Investors should also watch for revisions to Arkham’s address labels. A custody transfer, staking movement or newly identified address could change the platform’s estimate without representing fresh investor demand.
No evidence presented by Arkham establishes that the $10.5 million purchase caused a particular movement in HYPE’s price. Token prices respond simultaneously to broader crypto conditions, derivatives positioning, protocol buybacks and trading activity. Any claim assigning a specific price move to BHYP alone would remain speculative.
30 institucí drželo k 30. červnu zhruba 74,9 mil. USD v Hyperliquid ETF. Největším zveřejněným držitelem byla Wealth High Governance Asset Management s asi 23,95 mil. USD v THYP.
Thirty institutional investors collectively held roughly $74.9 million in Hyperliquid ETF products as of June 30, according to the latest round of quarterly 13F filings. The disclosures represent the first window into who exactly has been buying into one of crypto’s more unconventional ETF bets: a fund tracking the native token of a decentralized perpetual exchange.
Bloomberg Intelligence ETF analyst James Seyffart flagged the data, which shows a mix of asset managers, banks, and trading firms staking early positions in the newly launched products.
Who’s buying, and how much The largest disclosed holder is Wealth High Governance Asset Management, a Brazil-based firm that reported approximately $23.95 million in 21Shares’ THYP fund. That translates to 632,614 shares, making it the single dominant position in the entire filing cohort.
Behind Wealth High Governance, the roster gets more recognizable. OLP Capital Management disclosed roughly $10.5M in holdings. UBS followed at $7.5M, Bank of Montreal at $6.7M, and Jane Street at $4.4M.
Those top five holders account for about 70.8% of the total reported exposure, or roughly $53M. The remaining 25 institutions split the other $22M or so among themselves.
The products themselves Three Hyperliquid ETFs have launched in quick succession this year. 21Shares’ THYP began trading on May 12, 2026. Bitwise’s BHYP followed three days later on May 15. Grayscale rounded out the trio with a staking-focused Hyperliquid ETF on June 3.
By June 30, Bitwise’s BHYP fund alone reported $128M in net assets, holding approximately 1.96 million HYPE tokens. That figure captures total fund size, not just what shows up in 13F filings, since many holders either fall below the $100M reporting threshold or hold through structures that aren’t captured in the mandatory quarterly disclosures.
The gap between BHYP’s $128M in total net assets and the $74.9M reported across all three products in 13F filings suggests a significant chunk of demand is coming from retail investors or smaller institutions that don’t file 13Fs.
Context and precedent The Hyperliquid ETF launch followed a now-familiar playbook that Bitcoin and Ethereum ETFs established. Spot Bitcoin ETFs launched in January 2024 and attracted billions in their first weeks. Ethereum spot ETFs followed later that year.
What makes Hyperliquid different is the underlying asset. Bitcoin and Ethereum are broadly recognized, even by people who couldn’t explain a hash function. HYPE, by contrast, is the governance and utility token for a specific decentralized exchange that specializes in perpetual futures trading.
What this means going forward The fact that Jane Street, a quantitative trading firm known for its market-making activity, already appears in the filings hints at healthy secondary market liquidity. Among the three issuers, 21Shares attracted the single largest institutional holder, but Bitwise’s BHYP has the largest total fund size at $128M. Grayscale’s staking ETF offers a differentiated value proposition by passing through staking rewards.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Dlouhodobí držitelé Bitcoinu zvýšili aktivitu: 90denní průměr mincí přesunutých z peněženek neaktivních déle než pět let vzrostl na 1 500 BTC. Cena přitom zůstává pod 80 000 USD.
Long-term Bitcoin holders, often referred to as “OGs,” have sharply increased their transaction activity since May, with data showing the 90-day average of coins moved from wallets dormant for over five years now reaching 1,500 BTC. This trend comes as Bitcoin’s price trades in a tight range near $80,000, showing little momentum to break above this threshold.
Bitcoin OG transaction activity jumpsAccording to new research from CryptoQuant’s analyst Darkfost, veteran Bitcoin holders more than doubled their average spending activity compared to June, when the measure dropped to 962 BTC—its lowest in almost two years. This was also the first time since November 2024 that the figure fell below 1,000 BTC.
The 90-day moving average is used for this metric instead of daily readings, helping to reduce noise from large, individual transactions and giving a clearer view of shifts within the longstanding holder group.
Darkfost noted that “OG Bitcoin holder activity has intensified during this consolidation phase. The 90-day moving average of spent UTXOs from holders who have held BTC for more than five years just climbed to 1,500 BTC.”
Bitcoin traded at $79,901 at the time of reporting, up about 0.33% in the previous 24 hours, but continued to experience sharp swings between $78,723 and $81,370. The price remained pinned below $80,000 despite this increased on-chain activity.
Understanding OG movements and wallet transfersWhile increased wallet usage by veteran holders often raises concerns around potential selling pressure, analysts caution against assuming all such movements are sales. Some transactions may represent shifting assets to more secure storage following security incidents, rather than liquidations.
A spent UTXO means a previously unspent output is used as an input in a new transaction. Bitcoin tracks transfers based on UTXO movements, rather than conventional account balances.
Address labels can indicate whether coins are flowing to exchanges, custodians, or self-custody. Even so, deposits to exchanges don’t guarantee that sales occur, as some activity may simply reflect internal restructuring or improved storage security.
Recent blockchain data shows that, over a 10-day period in August, six ancient wallets moved 553.59 BTC valued at $40.15 million. These wallets had not been active in 12 to 15 years prior to these transactions.
Five of these wallets transferred funds to unknown private wallets, while one sent 40 BTC to Boerse Stuttgart Digital, a company providing digital asset custody and trading services, making the nature of the transfer—sale, custody change, or restructuring—uncertain.
Boerse Stuttgart Digital is a German institution specializing in secure crypto custody and trading infrastructure for institutional and retail investors.
Mini dictionary: Boerse Stuttgart Digital, a digital asset division of Boerse Stuttgart Group, offers regulated custody and trading services for cryptocurrencies, catering mainly to the European market.
Impact of Coldcard security issuesA major driver behind recent dormant wallet transfers was the Coldcard hardware wallet security breach. The device suffered a vulnerability that potentially exposed the seed phrases of affected wallets, putting user holdings at risk.
Following the issue, at least 28 wallets dormant since 2014 moved a total of 1,314.41 BTC on August 20, with over 1,200 BTC traced to 2014-era wallets. Owners responded to security advice by generating new seeds and moving coins, sometimes even after security software updates failed to resolve all problems.
Coldcard is a Bitcoin-focused hardware wallet brand, popular for its advanced security features targeting long-term holders.
Mini dictionary: Coldcard, a hardware wallet for Bitcoin, allows users to store their private keys securely offline, but flaws in firmware can jeopardize stored funds, as recently seen with seed phrase vulnerabilities.
Network activity rises amid price stagnationK33 Research estimates that almost 890,000 BTC changed hands during a seven-day period in early August, marking the highest weekly active supply level so far in 2026. This surge in activity occurred even as Bitcoin traded within one of its narrowest 30-day price ranges since 2023.
PeriodActive SupplyPrice RangeOG Holder Spent OutputEarly August 2026 (7 days)890,000 BTC$78,723–$81,3701,500 BTC (90-day avg)June 24, 2026Not statedNot stated962 BTC (90-day avg)This uptick in supply movement did not coincide with a decisive price rally, reflecting how on-chain signals can sometimes differ from market trends.
Galaxy Research reported that 1,596 BTC had been stolen in three major crypto theft waves as of August 5, involving around 7,300 affected addresses. The group estimated that total losses could rise to 2,055 BTC if a suspected fourth wave is confirmed, representing a value of approximately $130 million at the time. Despite these high-profile raids, nearly 90% of the stolen funds remained dormant on the blockchain.
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.
HYPE se dostal do Nasdaq Crypto Index US ETF od Hashdexu, poprvé v americky obchodovaném crypto ETF. Současně velryba nakoupila 343 000 HYPE a celý balík stakovala.
The Hyperliquid (HYPE) token continues to gain traction, with bullish sentiment strengthening as institutional interest, staking activity, and significant whale accumulation lend support to the price action. At press time, HYPE trades at $85.36 with a 24-hour trading volume of $793.73 million and a market capitalization of $21.47 billion, having risen 1.36% within the last day.
Whale accumulation and staking activityA large investor known for operating the wallet “0x6436” has recently acquired 343,000 HYPE tokens valued at approximately $29.09 million, according to on-chain data shared by the market watcher Lookonchain. This move increases the whale’s position to 3.24 million HYPE tokens, collectively worth around $252 million.
Lookonchain added that this wallet has staked its entire HYPE holdings, indicating a long-term commitment to the project rather than seeking short-term gains. The ongoing accumulation by this major holder has drawn attention among traders, raising confidence in the token’s outlook.
Lookonchain emphasized that the magnitude of accumulation reflects substantial belief in HYPE’s long-term prospects, particularly since the tokens are now held in staking rather than entering the market for sale.
Mini dictionary: Lookonchain is a cryptocurrency analytics platform that tracks large transactions, whale holdings, and on-chain activity to provide insights into market dynamics.
Technical indicators and analyst outlookTechnical analysis on TradingView reveals an ongoing uptrend for HYPE, which climbed to $85.66 after recovering from a low near $50.00. The token is currently supported by a bullish alignment of exponential moving averages, with the 20 EMA at $78.29, the 50 EMA at $70.24, the 100 EMA at $64.14, and the 200 EMA at $56.11. This sequence signals continued positive momentum in the near term.
The MACD technical indicator shows a reading of 6.07, slightly above the signal line at 6.06, with green histogram bars indicating ongoing buyer strength. The price remains above all key moving averages, reinforcing the bullish trend.
Moving AverageLevel20 EMA$78.2950 EMA$70.24100 EMA$64.14200 EMA$56.11Crypto analyst Hov has underlined that the HYPE token’s rally produced notable gains for various entry points. Early buyers at $26 have seen approximately 240% returns, while positions taken near $55 are up over 50%.
ETF inclusion and institutional exposureRecent data from Hyperliquid Daily shows that HYPE has debuted in the Nasdaq Crypto Index US ETF, managed by Hashdex, a crypto asset management firm. This marks HYPE’s first inclusion in a US-listed crypto exchange-traded fund (ETF).
With a 3.4% allocation, HYPE is now the fifth largest holding in the fund, following Bitcoin, Ethereum, XRP, and Solana. The addition comes as the fund adjusts its holdings composition, reflecting a decreased weighting for Bitcoin and the inclusion of new assets as they grow in size and liquidity.
For Hyperliquid, the appearance in such a product could signal rising credibility and broader visibility among institutional and traditional investors. The project, initially focused on decentralized perpetual markets, now expands its presence as more investment vehicles take note.
Future changes in HYPE’s ETF allocation are likely to depend on continued growth and liquidity development in the protocol itself.
Inclusion in the Nasdaq Crypto Index US ETF positions HYPE closer to established cryptocurrencies as institutional interest accelerates.
The next directional move for the HYPE price will depend on buyers’ ability to sustain gains above key resistance points. While signs point to continued bullish momentum, profit-taking and volatility may follow after the recent sharp advance. If buyers maintain support, a breakout could drive prices toward the $105 target noted in technical setups.
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 dostává EIP-8141, nový typ transakce „Frame Transaction“, který rozdělí jednu transakci až na 64 programovatelných framů. Návrh má přinést nativní account abstraction, batching i možnost platit gas jinými tokeny.
Ethereum is getting a new transaction primitive that could reshape how wallets, dApps, and smart contracts interact with the network. EIP-8141 introduces what’s called a “Frame Transaction,” a single transaction that can be broken into up to 64 programmable sub-units called frames, each capable of performing distinct operations within one atomic execution.
The proposal, co-authored by Vitalik Buterin and several core contributors, was first put forward on January 29, 2026. It has since been moved to “Scheduled” status for inclusion in the 2027 Hegotá hard fork.
What frame transactions actually do The new transaction type, designated 0x06, lets each frame operate in one of three modes. DEFAULT handles standard transaction deployment. VERIFY runs read-only validation, useful for checking conditions without changing state. SENDER executes in the context of the transaction’s sender, enabling patterns that previously required deploying dedicated smart contract wallets.
Each frame carries an intrinsic cost of 12,000 gas plus 475 gas per frame. For context, a basic Ethereum transfer today costs 21,000 gas, so the overhead per frame is relatively modest considering the functionality it unlocks.
The proposal also introduces several new opcodes. The APPROVE opcode (0xaa) handles authorization logic, while a suite of TXPARAM, FRAME, and SIG opcodes give developers granular control over how frames reference each other, pass parameters, and verify signatures.
Why this matters: native account abstraction without the workarounds The ecosystem has been building toward account abstraction through proposals like ERC-4337, which created an “alternative mempool” for account-abstracted transactions without changing the protocol itself. EIP-7702 took a different approach, allowing EOAs to temporarily delegate to smart contract code. ERC-4337 adds infrastructure complexity with bundlers and paymasters. EIP-7702 requires persistent delegation setups.
EIP-8141 takes a third path by baking these capabilities directly into the transaction format. A single frame transaction can include a verification step, an approval, and an execution, all without requiring the user to deploy a smart contract wallet or rely on third-party bundler infrastructure.
The proposal explicitly complements rather than replaces EIP-7702 and ERC-4337. Developers who’ve already built on those standards won’t need to rip anything out.
Gas sponsorship and atomic batching With frame transactions, a third party can cover gas costs within the same transaction structure. A dApp could onboard new users who hold zero ETH by sponsoring their first interactions, all without external relayer networks or off-chain signature schemes.
Atomic batching allows bundling approve-and-swap into a single atomic operation: either everything executes or nothing does, eliminating the current risk where a successful approval and a failed swap leaves a contract authorized to spend tokens.
ERC-20 fee payment is another notable inclusion. Users could pay transaction fees in stablecoins or other tokens rather than ETH, with a frame handling the conversion or payment logic inline.
Users can also create temporary, purpose-specific accounts for individual transactions without deploying persistent smart accounts or setting up delegation.
Post-quantum implications and long-term positioning Frame transactions create a natural structure for introducing post-quantum signature schemes. Because each frame can carry its own signature verification logic, the network could support quantum-resistant algorithms alongside existing ECDSA signatures without requiring a hard switch.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
For half a decade, blockchain networks have been locked in a race to the bottom on gas fees. BNB Chain just stepped off the track.
Nina Rong, BNB Chain’s Growth Director, said on September 6 that the network’s priority is no longer reducing transaction costs. Instead, she argued the industry needs to build sustainable business models that incorporate gas fees, revenue sharing, and commercial agreements, essentially the boring-but-necessary financial plumbing that keeps infrastructure projects alive long-term.
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The fee wars are over, apparently BNB Chain has been one of the more aggressive fee cutters in the space. The network slashed gas costs to as low as 0.05 Gwei and achieved reductions exceeding 90% over historical trends.
But Rong’s message was clear: the next five years should look nothing like the last five. The emphasis needs to shift away from grants and fee reductions toward structures that actually generate revenue.
Her comments landed in the middle of a heated debate about Robinhood Chain’s transaction costs. The newly launched chain has drawn criticism for fees that can peak around $0.40 per transaction. But Robinhood Chain has a counterargument: it shares approximately 10% of its net revenue with the Arbitrum ecosystem, directing 8% to the DAO treasury and 2% toward development initiatives.
What this means for the competitive landscape Robinhood Chain’s revenue-sharing model with Arbitrum offers one template. By allocating a fixed percentage of net revenue back to the broader ecosystem, it creates alignment between the chain’s commercial success and the health of the network it builds on. The 8% DAO treasury allocation and 2% development fund split give stakeholders a direct financial interest in the chain’s transaction volume rather than just its token price.
For BNB Chain specifically, the pivot makes strategic sense. The network has already captured significant market share through years of aggressive fee cuts. Continuing to slash prices offers diminishing returns.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zcash prudce vzrostl a za posledních 24 hodin vyvolal likvidace za 13,24 milionu USD, z toho 11,26 milionu USD na shortech. Cena se dostala až na 1 051 USD a poprvé od roku 2018 překročila 1 000 USD.
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Privacy token Zcash (ZEC) faces a 562% liquidation imbalance after a sharp rally forced traders betting against the token out of leveraged positions.
Zcash traded as high as $1,051 on September 4, 2026, building on a sharp surge from a low of $805 on September 3, 2026. Days ago, Zcash witnessed choppy price action as its rally could not break $888, which could be the reason behind traders' bearish stance. Instead, Zcash ripped higher, surpassing the $1,000 mark for the first time since 2018.
Zcash's latest price surge caught traders betting against Zcash's increase off guard. About $13.24 million of leveraged ZEC positions were liquidated over the past 24 hours, with $11.26 million coming from shorts and $1.98 million from longs, according to CoinGlass data. The percentage imbalance between longs and shorts yields 562%.
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The ZEC rally dates back to October 2025, coming out of a range that had been in place since June 2022. In April 2025, Zcash traded as low as $7.7 before a stunning comeback in October of that same year.
Zcash locks in 2,395% yearly gainsRecovering from June's low, Zcash's rally accelerated in August 2026, gaining 105% in the last 30 days and 2,395% over the past year, according to CoinGecko data.
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Contributing to the price growth are both technical and institutional developments. Grayscale's spot Zcash ETF began trading on NYSE Arca in late August under the ticker ZCSH. Separately, Digital Currency Group, which controls Grayscale, was in non-binding talks with a subsidiary to purchase 200,000 ZEC.
The developers of Zakura, a Zcash node launched in July, released cryptographic tools earlier this month that reduced the time it takes a wallet to build a private transaction from over three seconds to less than 200 milliseconds on mobile, with the aim to make the chain fast enough for everyday payments.
Zcash's price increase has pushed its market capitalization to about $17.25 billion, ranking it as the 10th-largest crypto asset by market cap.
In a new milestone, the Zcash ETF has crossed $400,000,000 in AUM, marking a new all-time high for the first and only Zcash fund.
Circle spustila Circle Wrapped Bitcoin (cirBTC), token krytý v poměru 1:1 BTC a podložený Chainlink Proof of Reserve. Je live na Ethereum a native podpora má později dorazit i na Arc po spuštění mainnetu.
Circle has launched Circle Wrapped Bitcoin (cirBTC), a 1:1 BTC-backed token that brings native Bitcoin onto programmable networks with segregated custody and verifiable onchain reserve data. Announced on 4 September 2026, cirBTC is live on Ethereum today, with native support planned for Circle’s Arc layer-1 blockchain once its mainnet launches.
How cirBTC’s Backing Is Structured Every cirBTC token is backed one-to-one by native Bitcoin and redeemable one-to-one for it, a wrapped token rather than a staked or derivative product. The underlying BTC is held through a Circle affiliate and custodied by Circle National Trust, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency. Reserves sit in accounts segregated from Circle’s corporate assets and held for the exclusive benefit of cirBTC holders, keeping the collateral legally and operationally separate from the issuer’s balance sheet. The token is issued by Circle International Bermuda Limited, a Class F Digital Asset Business licensed by the Bermuda Monetary Authority.
Chainlink Proof of Reserve for Verifiable Backing Circle pairs segregated custody with observable backing by connecting three data points: native BTC held in disclosed reserve addresses, the onchain reserve value published through Chainlink Proof of Reserve, and the circulating cirBTC supply across supported chains. When cirBTC is redeemed, the corresponding tokens are removed from circulation and native BTC is released, so tokens in circulation should not exceed the BTC held in reserve. Circle is careful to note that proof of reserve does not replace custody, redemption, or smart-contract diligence, but it lets lending protocols, market makers, and asset managers inspect the collateral without relying solely on an issuer’s statement.
Ethereum Now, Arc and More Later cirBTC enters an already competitive wrapped-Bitcoin market, where custody and reserve transparency have become the key differentiators for institutions deciding how to put BTC to work in decentralized finance. The launch also extends Circle’s reach beyond its USDC stablecoin franchise, following moves such as bringing USDC to Hyperliquid. Native cirBTC support on Arc is expected at mainnet launch, subject to applicable regulatory approvals, with additional blockchain integrations planned over time. For holders, the pitch is straightforward: a way to use Bitcoin in onchain markets, as it did when WBTC exchange outflows recently hit a six-week high, while keeping the reserve side of that exposure observable.
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A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities
Denní spalování UNI na Uniswapu dosáhlo rekordních 1,15 milionu USD a poprvé se dostalo nad hranici 1 milionu USD. Tahounem byl růst aktivity na Robinhood Chain.
Robinhood Chain has recorded rapid growth, and Uniswap has become its largest direct beneficiary.
As AMBCrypto reported, tokenized-stock holders increased from nearly zero to 863,800 within two months.
Daily Trading Volume also averaged between $100 million and $130 million. That participation substantially increased Robinhood Chain’s Fees and Revenue.
Source: DeFiLlama On the 4th of September, daily Fees reached $6 million, while Revenue climbed to $5.4 million. That activity also pushed daily UNI burns to a record value.
Why did UNI burns cross $1M? Uniswap recorded higher activity alongside rising Fees and Revenue. DeFiLlama data showed that daily Fees reached $12.5 million, while Revenue exceeded $1 million.
Source: DeFiLlama As network activity accelerated, the value of burned UNI also climbed sharply.
According to the Wu Blockchain Data Center, daily UNI burns reached $1.15 million. That marked the first time their daily value surpassed $1 million.
Source: Wu Blockchain Data Center Around 184,000 UNI were burned, marking the second-highest daily total on record. Robinhood Chain generated approximately 150,000 UNI of that amount.
On the same day, Robinhood DEX Volume surpassed $3 billion for the first time.
Uniswap accounted for 98% of that activity, making it the primary engine behind the burn. Token burns reduce circulating supply. However, their price impact still depends on demand and the size of remaining supply.
Can UNI price follow the burn? Despite record burns, Uniswap [UNI] continued facing selling pressure from Spot traders. Spot Netflow rose to $2.1 million after recording -$6.6 million during the previous session.
Source: CoinGlass That reversal indicated renewed exchange inflows and potential profit-taking.
Even so, UNI’s market structure retained a bullish bias. The Positive Directional Indicator [+DI] remained above the Negative Directional Indicator [-DI], showing that buyers maintained directional control.
Source: TradingView Meanwhile, the Average Directional Index [ADX] remained above its SMA, supporting the trend’s strength. The Advance Decline Ratio also held above 1, confirming broader bullish participation.
Therefore, stronger demand alongside continued burns could help Uniswap [UNI] clear $6.50 and target $7.
However, UNI must defend $6. Losing that level could expose the $5.60 support. Uniswap’s burn mechanism is working. The unanswered question is when the market will price that value accrual.
Final Summary Robinhood Chain reached 863,800 tokenized-stock holders within two months. Its daily Trading Volume averaged between $100 million and $130 million. Uniswap [UNI] could target $7 if demand strengthens and $6 remains support.
Tokenizované akcie na Solaně a Robinhood Chain překročily ve vkladech v DeFi 152 milionů USD. Solana drží asi 75,4 milionu USD a Robinhood Chain zhruba 72,7 milionu USD.
Tokenized stocks sitting on Solana and Robinhood Chain have crossed $152 million in combined DeFi deposits. That figure represents roughly 79% of the entire $192.6 million in tokenized-equity DeFi TVL across all chains, a concentration that says a lot about where this market is actually happening.
Solana commands the lion’s share at approximately $75.4 million, good for 64.5% of the global market in tokenized-stock DeFi deposits. Robinhood Chain, barely two months old, has already muscled its way to second place. The rest of the field, Ethereum included at around $15 million, is fighting over scraps.
From trading tokens to farming yield Still, only about 5% of all tokenized equities have actually entered DeFi lending protocols. That’s a tiny fraction of a $3.1 billion total tokenized equity market cap. Solana hosts the largest share of that deployed capital, which tracks with its broader dominance in onchain equity trading.
In Q2 2026, Solana recorded $5.8 billion in tokenized-stock DEX volume. That’s roughly 95% of all onchain equity trading globally, a 114% increase from the prior quarter. Platforms like xStocks and Raydium have been the primary venues facilitating that flow.
Robinhood Chain’s aggressive entrance Robinhood Chain launched on July 1, 2026, as a Layer 2 solution built on Ethereum, purpose-built for tokenized real-world assets. Within its first month, the platform’s tokenized equities reached an active market value of nearly $72.7 million. That represents close to a sevenfold increase from its early days, driven largely by trading activity in familiar names: tokenized GameStop hit a daily trading volume of $26.6 million shortly after launch, and Nvidia proved similarly popular.
Weekly spot volume across major chains reached approximately $3 billion in August 2026, with Robinhood Chain capturing a meaningful slice despite being the newest entrant. Grayscale has identified Solana, Robinhood Chain, and BNB Chain as the three leading platforms for tokenized equity volume.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The service operates through its DFSA-regulated DIFC arm and complements the bank’s existing digital asset custody and stablecoin services.
Standard Chartered extended its deliverable Bitcoin (BTC) and Ether (ETH) spot trading to institutional clients in the United Arab Emirates on September 3, becoming the first Global Systemically Important Bank (G-SIB) to offer the service in the country.
The offering runs through Standard Chartered DIFC, the bank’s arm in the Dubai International Financial Center (DIFC), which said it is the only global bank currently providing institutional digital asset spot trading in the region.
Built on the UK Launch The launch adds trade execution to a custody service the bank already runs in the UAE. The trades are deliverable, so clients take possession of the underlying Bitcoin and Ether at settlement, and they can settle through a custodian of their choice, including Standard Chartered’s own digital asset custody solution that went live in September 2024.
Trades run through the bank’s electronic channels and sit inside its existing platforms, letting clients access the two assets through the same FX interfaces they already use. Standard Chartered DIFC is regulated by the Dubai Financial Services Authority (DFSA).
“The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation,” said Rola Abu Manneh, Chief Executive Officer for the UAE, Middle East and Pakistan at Standard Chartered. She said pairing execution with custody, governance, and the bank’s global connectivity gives clients a more integrated way to participate in digital asset markets.
Standard Chartered first introduced institutional Bitcoin and Ether spot trading through its UK branch in July 2025, the first G-SIB to offer deliverable spot crypto trading to institutional clients.
“DIFC provides an established platform for international financial institutions to deploy global capabilities across markets,” said Christopher Parsons, Senior Executive Officer at Standard Chartered DIFC. He said the arrangement combines the bank’s global markets network with a regulated base for serving clients across the region.
You may also like: Bitcoin Holders Just Cashed Out 110,000 BTC in Profits: Is a Bigger Price Drop Coming? Ripple CTO Emeritus: BIP-110 Vote Loss Doesn’t Justify New Chain Bitcoin, Ethereum, Tron, and Cardano Tell Four Very Different Stories Through Active Addresses A Wider UAE Digital Asset Push The trading service sits inside a broader digital asset strategy that spans custody, trading and tokenization through Standard Chartered’s Corporate and Investment Bank, with its ventures ecosystem reaching into Zodia Markets and Libeara.
The bank already lets institutional clients mint and redeem USDC directly through its DIFC platform, a service it built with Circle. SC Ventures, its innovation arm, has backed a $100 million digital asset joint venture in the UAE with Japan’s SBI Holdings that targets market infrastructure, compliance tools, DeFi and tokenization.
Agentické transakce na XRP Ledgeru přesáhly 3 992 146 a dosáhly nového rekordu. AI agenti je používají k platbám za služby přímo on-chain v XRP a RLUSD.
Agent-driven transactions on the XRP Ledger (XRPL) have reached a new record, with over 3,992,146 transactions now processed through the x402 facilitator. This marks a significant milestone as AI-powered agents continue to use the ledger to pay for services directly onchain using XRP and RLUSD.
Rapid growth in agentic transaction volumeData shows that the number of agentic transactions has surged rapidly since the beginning of September 2026. According to t54, a provider of trust and facilitation tools on the XRPL, transaction volume climbed from 3.1 million to nearly 4 million in just four days—an increase of approximately 890,000.
AI agents rely on the XRP Ledger to conduct payments for various digital services, including token analytics, market intelligence, and research. Transactions are settled autonomously in either XRP or RLUSD, Ripple‘s onchain US dollar-backed asset.
More than 3.99 million agentic transactions have settled on the XRPL to date, highlighting accelerating demand for onchain machine-to-machine commerce and infrastructure.
DateAgentic Transactions (Cumulative)September 1, 20263.1 millionSeptember 5, 20263.99 millionRipple has actively supported this trend with the launch of the XRPL AI Starter Kit in June 2026. This collection of developer tools introduced new ways for AI agents to make payments using the x402 protocol, allowing seamless, trust-minimized transfers in XRP and RLUSD for APIs and digital services.
XRP Ledger agentic payments gain Mastercard supportThe x402 facilitator, provided by Ripple partner t54, acts as a trust layer and mediator, enabling verification of agent payments and risk checks before settlement. Through this setup, agent payments on the XRP Ledger now support Mastercard’s Verifiable Intent standard, which provides proof of payment authorization, amount limits, and purchase details, with automated screening prior to finalization.
Mastercard, a global payments technology company, has included the t54 x402 facilitator in its Start Path program for Agentic Commerce & Services. This initiative connects fintech innovators with large-scale payment networks to foster secure, transparent agent-driven transactions.
Using t54’s platform, merchants and payment providers can transact with AI agents in real time, benefiting from identity verification, automated risk assessment, and built-in dispute resolution. The integration supports a growing trend of machine-to-machine financial activity on blockchain networks.
Mini dictionary: x402 Facilitator – A protocol and infrastructure provider on the XRP Ledger that enables AI agents to authorize, execute, and confirm payments for services using onchain digital assets like XRP and RLUSD, with integrated trust, payment verification, and risk management tools.
The integration of Mastercard’s Verifiable Intent standard with the x402 facilitator is expected to improve trust and transparency in machine-agent transactions by providing clear records of payment authorization and automated risk checks.
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.
National Sheriffs’ Association změnila postoj ke CLARITY Act z odporu na neutralitu. Tím odpadla jedna z hlavních překážek pro návrh, který má vyjasnit regulaci digitálních aktiv včetně XRP.
The National Sheriffs’ Association (NSA), a leading law enforcement body representing thousands of US sheriffs, has altered its stance on the high-profile CLARITY Act, moving from opposition to a neutral position. This unexpected shift was confirmed in a letter dated September 3 sent to Senate Majority Leader John Thune and Minority Leader Chuck Schumer.
NSA changes position on crypto regulationThe letter, signed by Sheriff Troy Wellman of Moody County, South Dakota and NSA Executive Director Justin Smith, signals a withdrawal from the NSA’s previous position against the bill. The NSA framed this move as a response to the bill’s complexity and the many details still being debated in Congress.
“We are changing our position on the CLARITY Act to neutral,” the authors wrote, emphasizing the desire to step back and allow lawmakers to negotiate the specifics. The NSA had been one of the most prominent law enforcement groups actively opposing the legislation, which aims to clarify the regulatory status of digital assets such as XRP.
With the NSA’s shift to neutral, a significant obstacle for the CLARITY Act in Congress is now gone, and the path forward is less encumbered by law enforcement resistance.
Crypto commentator Ash Crypto called attention to the development, highlighting the powerful impact of this policy change for crypto regulation prospects.
Mini dictionary: National Sheriffs’ Association (NSA) — An organization representing the interests of elected sheriffs and law enforcement professionals across the United States. The NSA plays a significant advocacy role in policy discussions impacting public safety and law enforcement operations.
Calendar constraints threaten progressDespite the NSA’s change of heart, the CLARITY Act still faces significant timing challenges. The first procedural vote in the Senate is scheduled for September 15. Meanwhile, the House’s Republican leadership canceled the final two September sessions, and members will leave Washington by September 17, with no return planned until mid-November.
This narrow two-day window between the Senate vote and the House’s departure could stall the bill’s progress if any Senate amendments require House approval. If consideration is delayed until after the elections, the legislation could enter a period of even greater political uncertainty.
EventDateChamberSenate procedural voteSeptember 15SenateHouse departureSeptember 17House of RepresentativesReturn from recessMid-NovemberHouse of RepresentativesSenator Cynthia Lummis has warned that failure to complete the process now could delay meaningful crypto regulation until 2030. The compressed legislative timetable makes procedural hurdles acute for backers of the CLARITY Act.
Institutional support and political momentumWith the NSA stepping back, the bill’s supporters continue to point to strong institutional backing from prominent financial firms including BlackRock, Goldman Sachs, and Fidelity. President Donald Trump has also recently urged movement on the bill, boosting its momentum.
While the NSA’s new position does not guarantee passage, it gives supporters a fresh argument for undecided lawmakers. With one vocal opponent now neutral, advocates hope to persuade remaining holdouts, especially among Democrats, to act before the deadline.
Even as the House’s absence clouds the bill’s future, the diminished opposition from law enforcement could increase the urgency for action before September 17.
If Congress does not finalize the process within the existing window, any further delays into the post-election period are expected to complicate the situation and add additional uncertainty for crypto market participants.
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.
RedSonic Vault byl při jednom útoku pomocí flash loan vyprázdněn o 9,25 ETH. Útočník zneužil chybu v registraci aktiv a bez vlastního kapitálu si z Balanceru půjčil 1 139 WETH.
TLDR: RedSonic Vault lost 9.25 ETH after an attacker exploited a dual-asset pricing flaw entirely. A permissionless registerErc20 function let the attacker add a second, conflicting stETH share class. The attacker flash-loaned 1,139 WETH from Balancer and needed zero starting capital of their own. ExVulSec traced the full exploit, including the Curve swap and the final loan repayment step. A flash loan attacker drained 9.25 ETH from Ethereum’s RedSonic Vault in a single transaction. Blockchain security firm ExVulSec identified the exploit and published a full technical breakdown.
The attacker manipulated a permissionless asset-registration function to double count the same underlying collateral. On-chain records show the entire operation executed inside one self-contained transaction.
How the RedSonic Vault Exploit Unfolded The attacker flash-loaned 1,139 WETH from Balancer to fund the entire operation. No upfront capital of their own was required.
RedSonic’s vault prices its rsvETH shares through a function called getTotalAssetBalance. For the Lido position, that function reads the vault’s raw stETH balance directly.
That design choice became the exploit’s foundation. Share prices tied directly to a raw balance can shift if that balance changes unexpectedly. No corresponding shares need to be minted or burned.
The vault’s registerErc20 function carried no access restrictions, according to ExVulSec. Anyone could register a brand new asset class inside the vault.
The attacker registered stETH as a second asset, creating a class called rsvstETH. Both share types then drew from the exact same underlying stETH balance.
The exploit contract self-destructed once execution finished. Security researchers note that self-destructing contracts often complicate later on-chain tracing efforts.
Flash loans let borrowers access large sums without posting collateral, provided the loan gets repaid within the same transaction. Attackers commonly use this mechanism to fund exploits that would otherwise demand substantial capital.
🚨 ALERT — Exploit on Ethereum @reddio_com RedSonic Vault was drained for ~9.25 ETH. A no-capital attacker flash-loaned 1,139 WETH from Balancer, inflated the vault's share price, and cashed out. The exploit ran inside a self-destructing contract's constructor.
Root cause:
the…
— ExVul (@exvulsec) September 5, 2026
RedSonic Vault Exploit Exposes a Dual-Asset Flaw The attacker deposited 1,130 ETH first, acquiring close to 99% of all outstanding rsvETH shares. That position set up the rest of the exploit.
Next, the attacker deposited 9.34 stETH directly into the vault. That single deposit inflated the stETH balance without minting any new rsvETH shares.
Because rsvETH pricing reads the raw stETH balance, the extra deposit pushed the share price higher artificially. The attacker’s existing rsvETH holdings gained value instantly as a result, without any new rsvETH being issued.
The attacker then redeemed rsvETH for 1,139.5 ETH, according to ExVulSec’s transaction analysis. That single redemption produced the full 9.25 ETH profit.
The same attacker also redeemed the rsvstETH shares for stETH separately. The identical underlying collateral effectively paid out twice from one shared, pooled vault balance.
ExVulSec reported that the recovered stETH was swapped for ETH on Curve. The attacker repaid the Balancer flash loan within that same transaction.
Etherscan data lists the attacker’s wallet as 0x70f2333d21Ed7E7D105F6578227A9A747687982C. The RedSonic Vault contract itself sits at 0x4315990d9eeaffdfafd49958b4851f203fa1126f.
The attack transaction carries the hash 0xe3cba90e865c6cba950ebce36a52607f51f1fd33cd9fb920c78803f19b57791a. It remains publicly viewable on Etherscan for anyone verifying the exploit’s details.
Chainalysis přidal podporu HyperEVM na Hyperliquidu, takže zákazníci mohou sledovat aktivitu a provádět kontrolu souladu s předpisy napříč sítí. Pokrytí se automaticky rozšiřuje i na nové tokeny ERC-20 a ERC-721.
Chainalysis has added support for HyperEVM, the Ethereum-compatible smart contract environment on the Hyperliquid Layer 1, the blockchain analytics firm announced on September 3, 2026. The integration brings Chainalysis’s compliance and investigation tooling to Hyperliquid’s growing onchain ecosystem, letting customers monitor activity across the network’s native token and the applications deployed on top of it. The announcement is the latest chain-coverage expansion from the analytics firm, which routinely adds automatic token support for emerging networks.
Automatic Coverage for ERC-20 and ERC-721 Tokens Support extends well beyond the native HYPE token. Chainalysis said it will automatically add coverage for new fungible and non-fungible tokens deployed on HyperEVM that follow major standards such as ERC-20 and ERC-721. Because fresh tokens are minted on the network daily, the firm’s platform now ingests them without manual intervention, closing the gap between a token’s launch and its availability for screening. Customers can run Know Your Transaction (KYT) checks with actionable alerts and continuous monitoring, and the same coverage is wired into Chainalysis’s entity screening products and Reactor, its flagship investigations tool. That lets analysts track fund flows across HyperEVM tokens, investigate transactions, visualize money movements, and identify potentially illicit activity.
Where HyperEVM Fits in Hyperliquid HyperEVM is Hyperliquid’s Ethereum-compatible execution environment. It lets developers port Ethereum-based applications onto the Layer 1 while still connecting to HyperCore and the wider Hyperliquid ecosystem, effectively extending the chain beyond its high-throughput perpetuals venue. For a compliance provider, that compatibility carries practical weight: the token standards and smart-contract patterns investigators already know from Ethereum now apply to Hyperliquid’s chain, so fund-flow tracking and transaction investigation work through familiar interfaces rather than bespoke tooling.
Compliance Infrastructure Catches Up to a Busy Network The move arrives as Hyperliquid draws attention from developers and enforcement alike. Arkham recently reported that the Lazarus Group sold more than $30 million in bitcoin on Hyperliquid, underscoring why monitoring tools for the network matter. Separately, the Hyperliquid Policy Center has asked the CFTC to allow energy perpetual contracts in the U.S., a sign that the platform’s regulatory footprint is expanding as quickly as its trading activity. By extending coverage now, Chainalysis positions its customers to screen an ecosystem that is still adding tokens and use cases by the day.
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A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities
Senátorka Cynthia Lummisová říká, že CLARITY Act by při bankrotu burzy chránil klientská aktiva a zajistil, že by měla přednost před věřiteli. Návrh by navíc zakázal smísení klientských a firemních prostředků.
Customers of failed crypto exchanges often face substantial losses, finding themselves at the end of lengthy bankruptcy proceedings with little chance of recovering their digital assets. Senator Cynthia Lummis, a leading advocate for the CLARITY Act, has stated that her proposed legislation would address this ongoing issue.
The bankruptcy risk for crypto customersSenator Lummis emphasized that the risks are not merely hypothetical. In the event of an exchange bankruptcy, customers are typically required to line up behind lawyers and institutional creditors, who have higher priority. As a result, users may only reclaim a small portion of their holdings, if anything at all.
Senator Cynthia Lummis pointed out that, “When a crypto exchange goes bankrupt today, customers are forced to get in line behind lawyers and creditors with low priority in hopes of maybe recouping a fraction of their assets. The CLARITY Act ensures consumers’ assets are protected just like they would be with traditional institutions.”
Senator Lummis serves as a member of the U.S. Senate Banking Committee and has long advocated for regulatory clarity in the crypto sector.
Major collapses highlight urgent needSeveral high-profile crypto exchange failures, most notably the collapse of FTX in November 2022, have underscored this problem. Customers of FTX reportedly lost billions of dollars, as bankruptcy courts classified client funds as part of the exchange’s estate. This treatment left individual users competing with large institutional creditors over the remaining assets.
Similar situations occurred at other platforms such as Celsius, Voyager, and BlockFi, revealing that crypto users lack the legal protections afforded to traditional investors. Under current securities law, assets held by customers at licensed brokers are separated from company property, ensuring investors are prioritized during insolvency. No such mechanism currently exists for digital assets.
How the CLARITY Act would change the rulesThe proposed CLARITY Act aims to categorize digital commodities as customer property within the U.S. Bankruptcy Code, granting crypto customers rights comparable to those of holders of stocks or commodities. The bill would require exchanges and brokers to hold client assets at specialized custodians, entirely separate from their operating funds. Any commingling of client and company assets, the kind that contributed to the FTX collapse, would be prohibited.
Key portions of the legislation link digital commodities to existing bankruptcy protections applicable to other kinds of commodity contracts. The goal is to move customers to the front of the line in any bankruptcy distribution.
Mini dictionary: CLARITY Act – Proposed United States legislation designed to create clear rules for the treatment of customer digital asset holdings during crypto exchange bankruptcies, prioritizing customer recovery above other creditors.
Bankruptcy ScenarioTraditional SecuritiesCrypto Assets (Current)Crypto Assets (With CLARITY Act)Customer Fund PriorityFirstLastFirstAsset Segregation RequirementMandatoryNot requiredMandatoryCustodian StandardsRegulated Broker-DealersVaries by platformQualified digital custodiansLegislative outlook and next stepsSenator Lummis has championed the CLARITY Act for several years. She has stated that if the bill does not pass during the current congressional session, regulatory progress on digital assets could be delayed until at least 2030. The Senate is set to hold a crucial cloture vote on September 15, marking a key juncture for the bill’s advancement.
The Senator has warned that failure to enact the CLARITY Act could postpone comprehensive crypto safeguards for years, highlighting the urgency for legislative action.
Should the legislation clear the Senate, delays in the House of Representatives remain possible, although Republican leadership is reportedly pushing to deliver the bill to the President soon.
Implications for XRP and digital asset holdersXRP holders and the broader crypto community are closely following the bill’s progress, as the CLARITY Act would offer the first federal legal framework ensuring digital asset owners cannot be subordinated behind creditors in insolvency cases. If enacted, the legislation would fundamentally strengthen legal protections for crypto customers in the United States.
With the Senate vote on the horizon, the outcome is expected to set a precedent for future exchange bankruptcies and potentially reshape recovery processes for digital asset holders.
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.
Tokenizované zlato znovu táhne kryptotrh, přičemž XAUT roste na DEX, v lendingu i na futures trzích. Na Hyperliquid se otevřený zájem vrátil téměř k 750 milionům USD.
TLD: Tokenized gold regained crypto-market attention as XAUT activity expanded across decentralized exchanges, lending platforms, and leveraged futures markets. XAUT and PAXG remain leading gold-backed assets on decentralized exchanges, while Uniswap liquidity and collateral integrations widened trading access. Hyperliquid gold open interest returned near $750 million, with whale positioning leaning long as traders reacted to inflation and geopolitical uncertainty. Antalpha-linked wallets accumulated large XAUT positions, while holder growth and rising activity across Ethereum, BNB Chain, and Monad broadened adoption. Tokenized gold has returned to the center of crypto trading after a strong August revival. Traders are using blockchain-based gold for hedging, collateral, and leveraged speculation across decentralized markets. Tether Gold, known as XAUT, remains the largest focus of this renewed activity. CoinGecko shows XAUT trading near $4,430 after gold pulled back from recent highs.
Trading volumes also remain elevated compared with earlier periods this year. PAXG continues to attract decentralized liquidity alongside it. The shift reflects growing demand for assets linked to inflation protection. Crypto traders also seek new opportunities beyond Bitcoin and altcoins during uncertain global markets.
Gold XAUT Price Tokenized Gold Demand Builds Across DEX and Lending Markets XAUT has led the latest expansion in tokenized gold activity across decentralized finance. Tether increased supply during recent months as demand strengthened among traders and larger wallets.
Market activity accelerated in August, when trading volumes moved close to their 2026 highs. The token also became more useful inside lending platforms and collateral markets.
About $2.39 million in XAUT liquidity was trading through Uniswap V3 during the reported period. That activity helped deepen decentralized access beyond centralized exchanges.
XAUT and PAXG now rank among the most actively traded gold-backed assets on decentralized exchanges. Their liquidity gives crypto traders direct exposure without leaving blockchain markets.
Lighter also added XAUT as collateral, connecting gold exposure with perpetual futures trading. That integration widened the token’s role beyond simple spot ownership.
Holder activity expanded as well. RWA.xyz data showed XAUT reaching 84,756 wallets, representing growth above 16% over 30 days.
More than $4.6 billion in value moved on-chain globally during August. Active addresses topped 53,000 as demand spread across several networks.
Ethereum still hosts most of the token supply. However, BNB Chain and Monad gained more supply recently, suggesting broader use across newer decentralized applications.
Tokenized Gold Gains Momentum in Perpetual Futures Trading Gold also returned as a major perpetual futures market on Hyperliquid through HIP-3. Open interest climbed back toward $750 million, while daily trading reached about $299 million.
Source: Dune Analytics Large traders were mostly positioned on the long side. The biggest tracked long carried more than $273,000 in unrealized gains.
Short sellers faced heavier pressure. The largest reported short position showed unrealized losses near $2.2 million on September 4.
The renewed interest followed stronger demand for defensive assets during inflation concerns and geopolitical uncertainty. Gold also benefited from traders seeking alternatives to semiconductor-linked positions.
Tokenized gold gives those traders a familiar macro asset with crypto-native settlement. It also allows faster movement between collateral, spot trading, and leveraged markets.
A large wallet linked with high probability to Antalpha also attracted attention. The wallet accumulated repeated 1,000 unit tranches while gold traded closer to $4,000.
By September 4, that wallet held about 16,120 XAUT, worth more than $71 million. The wallet showed inflows without visible cash-out activity.
Another Antalpha-linked wallet held more than 33,000 units alongside other assets. Some related wallets actively traded gold and transferred funds toward Bitfinex.
Part of those holdings also moved into custody through Cobo.com. The activity suggests professional investors are using several routes for storage and execution.
The accumulation stands out because repeated purchases appeared during gold’s earlier climb. Those positions gained value as prices advanced through August.
XAUT remains the main tokenized gold asset driving crypto-market interest. Its expanding collateral role, DEX liquidity, and whale ownership are creating more trading paths.
The market is also becoming less dependent on centralized exchanges as decentralized liquidity improves across major chains. That shift may help tokenized gold compete more directly with stablecoins and other real-world assets used as trading collateral.
Tokenizované akcie mají hodnotu 2,91 miliardy USD a v posledních 30 dnech vzrostly o 14,4 %. Spor se nyní vede o to, který ze tří modelů se stane standardem.
Uniswap founder Hayden Adams compared Robinhood's and Ondo's stock tokens to early stablecoins on Friday, hours after Dinari co-founder Gabriel Otte called the same instruments "indisputably worse for the end investors than even common stocks." Three models are competing for $2.91 billion of tokenized equities, and the SEC has already sorted them into separate legal boxes.
The public fight between AMC Entertainment Chief Executive Adam Aron and Robinhood over tokenized AMC shares spilled on Friday into a dispute among the companies that build the instruments, over which of three incompatible designs should become the standard.
The models differ in what the holder actually owns. Robinhood's stock tokens are debt securities issued by an unregulated Jersey entity, sold only to non-US persons, that pay economic exposure and confer no claim on the referenced company. Ondo, xStocks and Dinari hold the underlying shares through regulated intermediaries and pass the economics through, with Dinari the only one of the three selling to US investors. Securitize and Superstate put a company's own registered shares onchain, with the issuer and its transfer agent inside the transaction. The SEC's Division of Corporation Finance mapped the three categories in a statement on Jan. 28, and the model determines which securities laws apply and what a holder can claim in a bankruptcy.
Tokenized stocks hold $2.91 billion, up 14.4% in 30 days across 2.67 million holders, rwa.xyz data shows. Ondo leads with $869.6 million, followed by bStocks at $659.4 million, xStocks at $633.7 million, Securitize at $274.1 million, Bitget at $170.5 million, Robinhood at $133.2 million, Figure at $84.7 million, Superstate at $46.4 million and Dinari at $11.2 million.
Robinhood's book is a sixth the size of Ondo's and its trading business is the largest of the group. Robinhood Chain turned over $1.56 billion of DEX volume in 24 hours, more than double the level a week earlier, according to DefiLlama, and passed Solana in tokenized stock volume in late July on the strength of memecoin pairs.
Snake Juice And StablecoinsGabriel Otte, co-founder of Dinari, which sells 1:1 custodial tokenized stocks to US investors through an SEC-registered broker-dealer, opened the argument at 12:18 p.m. ET Friday under Robinhood Chief Executive Vlad Tenev's defense of the product, "We stand behind Stock Tokens."
"Many took shortcuts to make 'tokenized stocks' that are synthetic and indisputably worse for the end investor than stocks," Otte wrote. "It's time for the industry to follow @DinariGlobal's lead and adopt the custodial model that protects investor rights."
Six minutes later he named both companies and set aside the securities-law question Aron had raised. "To be clear, it's not about legality, it's just that synthetic tokens like @RobinhoodApp stock tokens and @Ondo are just indisputably worse for the end investors than even common stocks," he wrote.
Hayden Adams, the founder of Uniswap, whose AMM is the largest DEX on Robinhood Chain and the venue where the memecoin pools have been pricing the stock tokens, answered at 6:08 p.m. ET. "They're not worse if you want programmability, or to trade at night/weekend/holidays, live outside the US, don't have a bank account, want to use them in DeFi apps/hold them in a crypto wallets," he wrote. "End of the day, tokenized stocks are pretty similar to early stablecoins - are they exactly the same as dollars? No. But they are meeting a user demand in a way that nothing else is."
Otte replied that the same demand could be met "without it being synthetic and being an inferior product with price dislocation."
Dinari amplified the version of the objection put by Anna Wroblewska, its chief business officer, the same morning: "The main problem here isn't tokenization. It's the marketing of a discretionary debt instrument, which functions essentially as an onchain CFD, as an investment in the US stock market."
Carlos Domingo, chief executive of Securitize, took Aron's side on Thursday night. "I would also not want people creating offshore derivatives of our stock that trade all over the place," he wrote. "This is why we tokenized our own stock natively and in the US, in a fully compliant way."
Linked Securities At The SECThe Corp Fin statement gives each model a different legal shape. Issuer-sponsored tokens are the security itself, with the issuer or its agent keeping the master securityholder file onchain. Third-party custodial tokens represent "the holder's indirect interest in the underlying security via the security entitlement." The third category, which the staff calls linked securities, covers a token "issued by the third party itself that provides synthetic exposure to a referenced security, but it is not an obligation of the issuer of the referenced security and confers no rights or benefits from the issuer of the referenced security."
Robinhood's own developer documentation describes stock tokens as "tokenised debt securities issued by Robinhood Assets (Jersey) Limited" that grant no "legal or beneficial rights in, or against the issuer of, those underlying securities." Dividends run through an onchain multiplier rather than a payment. Only one firm, BBVI, can create or redeem them.
Dinari's dShares are held with FINRA-member broker-dealer Alpaca Securities in segregated custodial accounts, pay cash dividends in stablecoins and can be burned for redemption at market value. Ondo and Broadridge added proxy voting to more than 250 Ondo tokenized stocks and ETFs in April, through Ondo Global Markets, which is not available in the US.
The staff also flagged the counterparty question the AMC episode raised: holders "may be exposed to risks with respect to the third party, such as bankruptcy, to which a holder of the underlying security would not necessarily be exposed."
Issuers In The RoomSecuritize runs five regulated affiliates: a broker-dealer that operates an SEC-regulated alternative trading system, an SEC-registered transfer agent, an exempt reporting adviser, a fund administrator and an EU investment firm authorized under the DLT Pilot Regime, according to the company. That stack is what lets it act as the record-keeper for a tokenized security rather than a counterparty to it, and it is how BlackRock's BUIDL and funds from Apollo, Hamilton Lane, KKR and VanEck came onchain. Securitize says it has tokenized more than $4 billion of assets.
The company took its own shares public on the NYSE as SECZ on July 2 after merging with Cantor Equity Partners II, and tokenized them on day one. SECZ is the largest single tokenized equity tracked by rwa.xyz.
Superstate runs the same idea for companies that are already listed. Its Opening Bell program appoints Superstate as a company's digital transfer agent and issues the company's registered shares directly onto Ethereum and Solana. "Tokenized shares are not derivatives, wrappers, or new share classes," the product page states; the tokens are recorded in the investor's name and carry the same economic and governance rights as the shares on the exchange.
Galaxy Digital and Forward Industries have shares onchain through it, and Forward Industries accounts for nearly all of Superstate's $46.4 million on rwa.xyz. Founder and Chief Executive Robert Leshner, who also founded Compound, called SharpLink the first public company to tokenize its shares on Ethereum through the program in September 2025.
Best Execution Versus SlippageBrian Huang, co-founder of onchain portfolio manager Glider and a former XTX Markets equities trader, argued on The Defiant's livestream Friday that the venue matters more than the wrapper. "AMMs do not guarantee best execution for consumers," he said. "In the US, we have protections around what's called the national best bid offer or best execution rules, where whether you're trading on Robinhood, Coinbase or any of the major apps or brokers in the US, you are guaranteed to get best execution. Now, that is not true via AMMs."
Huang called the rights objections false. "You do get the voting rights through particular issuers," he said. "Ondo has worked on this with Broadridge." He said Ondo's request-for-quote design, in which a market maker sources the share off-chain and the token is minted against it, is the structure the market will converge on, and that the dislocations end when 24/7 creation and redemption exists on both sides. "You will not see these dislocations a year from now."
He made the same case at RWA Summit on Wednesday, calling the arguments from Dinari, Securitize and the NYSE "propaganda." The Defiant reported his exchange with Adams over AMMs and correlated pairs on Aug. 18.
Programmable Demand, No SupplyBinji Pande, a founding member of Ethereum R&D lab Ethlabs, argued on the same stream that the blowouts are a supply problem rather than a design flaw. "We kind of figured out how to program demand before we figured out how to program supply, and you kind of need both," he said. He did not defend the price gaps, calling a six-dollar tokenized AMC print "bad market structure" and saying it was not good "for any market."
Pande's framing after tokenized AMC and Hims & Hers broke against their reference prices over the Aug. 29 weekend was that issuers have lost control over how their assets are used, the same way publishers lost control over how information traveled. A memecoin called BONER had by then cornered about half the tokenized Hims & Hers float. On Wednesday he predicted the pattern spreads to penny stocks.
Huang's objection to the memecoin pairings is mechanical. "When you put in a meme coin with the stock, they're not really correlated assets. You're exposing people to a lot of impermanent loss in those situations."
Transfer Agents Want A LineThe firms that keep shareholder records have asked the SEC to draw the distinction in rules. Continental Stock Transfer & Trust told the agency's crypto task force on July 21 that third-party tokens "do not establish a legal relationship between the token holder and the issuer" and can "confuse investors, impair issuer governance, create disclosure and market-integrity risks, and bypass the shareholder-record and corporate-action infrastructure." It asked the SEC to exclude them from regulatory relief absent safeguards. Computershare asked a week later for neutral treatment across all book-entry forms instead.
Ariel Givner, a corporate and intellectual property lawyer in fintech and the founder of Givner Law, posted the investor-side version of the argument on Friday morning, drawing 109,000 views. "You bought economic exposure from an offshore affiliate that slapped someone else's ticker on a derivative," she wrote. "That is NOT tokenization."
AMC has filed nothing with the SEC on the dispute. Robinhood's chief legal officer Dan Gallagher, an SEC commissioner from 2011 to 2015, told Aron to "send your lawyers and we'll educate them," as The Defiant reported on Friday.
ONDO traded at $0.3689, up 5.1% over 24 hours and 5.2% over seven days, according to CoinGecko.
Figures via rwa.xyz, DefiLlama and CoinGecko on Sept. 5.
Uniswap v4 už eviduje přes 90 000 unikátních hooků napojených alespoň na jeden nasazený pool. Oproti zhruba 22 600 na začátku roku jde o zhruba čtyřnásobný růst.
Uniswap’s v4 architecture has now seen more than 90,000 unique hooks initialized and attached to at least one deployed pool. That number, tracked via on-chain data dashboards including Dune Analytics, represents a roughly fourfold increase from the approximately 22,600 hooks recorded earlier this year.
For a feature that didn’t exist before January 2025, that’s a steep adoption curve.
What hooks actually do Think of hooks as plug-ins for liquidity pools. In Uniswap v4, developers can write custom smart contract logic that executes at specific points in a pool’s lifecycle: before a swap, after a swap, when liquidity is added, when it’s removed, and so on.
Before v4, if you wanted a pool to behave differently, say with dynamic fees that adjust based on volatility, you essentially needed to fork the protocol or build on top of it. Hooks let developers modify pool behavior without touching the core protocol code.
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The system is also designed for gas efficiency. Hook addresses encode permission details directly in their bits, meaning the protocol can check what a hook is allowed to do without expensive storage lookups.
Uniswap v4 introduced a singleton PoolManager architecture alongside the hooks system. Instead of deploying a separate smart contract for every new pool (as in v3), all pools now live inside a single contract. This reduces deployment costs and makes it cheaper for hooks to interact with multiple pools simultaneously.
From 22K to 90K in months The growth trajectory is notable. Early in 2026, on-chain dashboards recorded roughly 22,609 unique hook addresses that had been initialized. By mid-January 2026, that figure had climbed to approximately 89,955.
To be precise about what’s being counted: these are unique hook addresses, not total pools or total deployments. A single hook contract can theoretically be linked to multiple pools. So the 90K figure represents 90,000 distinct pieces of custom logic that developers have written, deployed, and connected to at least one live pool.
Community-maintained Dune dashboards, supported by both Uniswap Labs and independent contributors, have made this data publicly accessible.
Notable hooks in the wild Not all hooks are created equal, and a few stand out. DualPool, developed in partnership with Spark, is an audited and open-sourced hook designed to generate yield on idle liquidity sitting in pools. The core insight is straightforward: most liquidity in a concentrated liquidity pool isn’t being actively used at any given moment. DualPool routes that dormant capital into yield-generating strategies until it’s needed for swaps.
Other hooks have targeted dynamic fee structures, where swap fees adjust automatically based on market conditions like volatility or trading volume. Some developers have built hooks focused on MEV-related attributes, attempting to either capture or redistribute the value that searchers and block builders typically extract from on-chain trades.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana za posledních 30 dní přilákala do RWA čisté toky ve výši 348 milionů USD a vedla mezi hlavními sítěmi. Její hodnota RWA přesáhla 4 miliardy USD a dosáhla 4,23 miliardy USD.
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According to the RWA Foundation X account, Solana led RWA flows, pulling in $348 million in the last 30 days.
"Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain," the RWA Foundation X account wrote.
As seen on the rwa.xyz page, Solana led the 30-day change among major networks on the RWA League table (distributed), referring to RWA tokens using the blockchain as a distribution layer, enabling onchain investors to subscribe, hold, and manage assets directly through their own wallets or custodians. Solana recorded a 30-day increase of 11.13%, while Ethereum and Stellar rose by 0.77% and 5.22%, respectively. XRP Ledger and Avalanche declined by 5.51% and 14.06%, respectively.
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As reported, Solana's RWA value has crossed $4 billion, currently at $4.23 billion. RWA holders increased by 17.63% in the last 30 days to 398,644.
One of the defining industry trends over the past year has been the growth of RWAs, with Solana sustaining its momentum. The Solana blockchain hosts tokenized Treasury products, including Circle's USYC tokenized money market fund, BlackRock's BUIDL, VanEck's VBILL, and Franklin Templeton's BENJI.
Ondo Finance runs two Treasury-linked products on Solana: USDY is a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG provides exposure to short-term U.S. government bonds and is backed significantly by BlackRock's BUIDL fund.
Solana eyes most ambitious upgradeSolana is eyeing what could be its most ambitious core upgrade to date—one that replaces its current technology stack with a redesigned consensus protocol built for near-instant finality and responsiveness.
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Dubbed Alpenglow, the upgrade proposes replacing Proof of History—Solana's well-known unique "pre-recorded clock" system—and Tower BFT, its existing voting mechanism for reaching consensus.
In late August, Solana saw its first network-wide governance vote—a proposal to speed up cuts to new SOL issuance that scraped past the required two-thirds majority in the final minutes before the deadline.
Solana překročila v ekosystému RWA hranici 18,5 miliardy USD. Stablecoiny tvoří 16,4 miliardy USD a Solana získala 97 % objemu obchodování tokenizovaných akcií v 1. pololetí 2026.
Solana has been building something quietly significant. The network’s combined real-world asset footprint, counting stablecoins, tokenized funds, equities, and commodities, has crossed $18.5 billion, according to data tracked by RWA.xyz and research from Galaxy Digital and the Solana Foundation. The stablecoin layer alone reached $16.4 billion in May 2026, making it the largest single component of the ecosystem. Non-stablecoin RWAs hit an all-time high of $2.8 billion that same month, a figure that climbed toward $4.23 billion by September 2026.
The lineup of issuers looks less like crypto and more like a financial services conference Circle’s USDC and Tether’s USDT remain the dominant stablecoin players on the network. Early 2026 brought Western Union’s USDPT and SoFi’s SoFiUSD to Solana. On the non-stablecoin side, BlackRock, Ondo, and Securitize have all launched tokenized products on the network. The holder base now numbers somewhere between 230,000 and 398,000 unique participants across Solana’s RWA ecosystem, depending on the asset class and tracking methodology.
Ninety-seven percent is a number that deserves its own paragraph Solana captured 97% of all on-chain tokenized equities trading volume in the first half of 2026. The network processes transactions quickly and cheaply, which matters when the use case is high-frequency settlement of financial instruments. For an institution moving large volumes of tokenized assets across a trading day, the difference between $0.001 per transaction and $5 per transaction is the difference between a viable product and an uneconomical one. Traditional financial infrastructure often settles trades on a T+2 basis. On-chain settlement on Solana happens in seconds.
What this ecosystem actually means for the network’s identity One important caveat worth noting: a significant portion of the RWA value currently sitting on Solana remains in reserve positions rather than actively circulating through DeFi applications. The $18.5 billion figure represents assets tokenized and held on-chain, not necessarily assets being lent, borrowed, or used as collateral in decentralized protocols. Regulatory frameworks for tokenized securities remain uneven across jurisdictions, and institutional compliance requirements don’t always map cleanly onto permissionless DeFi protocols.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
BulkTrade, one of the more quietly hyped projects in Solana’s DeFi ecosystem, has officially gone live on mainnet. The perpetual futures exchange launched on September 5, bringing with it execution latency between 5 and 20 milliseconds, a figure that puts it in striking distance of the centralized exchanges it’s trying to replace.
The platform isn’t rolling out the red carpet for everyone, though. Access is gated behind referral codes and invites.
The numbers behind the launch BulkTrade didn’t arrive empty-handed. A pre-deposit campaign that kicked off on June 1, 2026, pulled in over $25.9 million in USDC TVL within just 10 days.
The financial foundation goes deeper than pre-deposits. BulkTrade closed an $8 million seed round back in September 2025, co-led by Robot Ventures and 6th Man Ventures. Wintermute Ventures also participated, which is notable given Wintermute’s role as one of the largest market makers in crypto.
On the tokenomics side, the BULK token hasn’t launched yet, but the allocation framework is already public. Thirty percent of the total supply is reserved for community distribution through airdrops, with eligibility tied to pre-deposit activity and trading behavior.
The platform also introduced what it calls BIP-1 on July 28, a framework that enables permissionless, deployer-owned perpetual markets.
Why speed matters in perps trading BulkTrade is betting it can deliver both speed and self-custody. The platform targets sub-40 millisecond finality while keeping user assets in self-custody on Solana. All perpetuals are settled in USDC, which simplifies the margin and settlement process compared to platforms that support multiple collateral types.
The exchange underwent a security audit by Zellic, a firm that has reviewed smart contracts for several major DeFi protocols.
Solana’s perps landscape gets more crowded BulkTrade enters a Solana perps market that already includes established players like Jupiter’s perps product and other on-chain derivatives protocols.
BulkTrade’s 30% airdrop allocation rewards early depositors and active traders. The dynamic margin functionality the platform offers adjusts margin requirements in real time, potentially improving capital efficiency for sophisticated traders, in contrast to traditional perps platforms that use static margin requirements.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana za posledních 30 dní přilákala čistý příliv kapitálu do RWA ve výši 348 milionů USD a hodnota RWA na síti vzrostla na 4,23 miliardy USD. Ethereum ale dál dominuje celému trhu s RWA.
Over the past thirty days, Solana has captured $348 million in net flows towards tokenized real-world assets. The blockchain thus outperforms other networks during this period, according to data provided by the RWA Foundation. This momentum raises the value of RWAs distributed on Solana to $4.23 billion. However, it is not enough to dethrone Ethereum across the entire market.
In Brief Solana dominates recent RWA flows, capturing $348 million in thirty days. The value of RWAs on Solana reaches $4.23 billion, driven by increased holders and transfers. U.S. Treasury bonds and tokenized stocks are among the main drivers of this growth. Solana gains ground without dethroning Ethereum, which maintains a clear lead on total RWA value. Solana Accelerates on All RWA-Related Indicators The communicated $348 million corresponds to capital inflows over one month. This amount does not represent either the trading volume or the total value of tokenized assets on Solana. It measures the difference between capital entering and leaving this ecosystem during the observed period.
The RWA Foundation stated :
Solana leads the race. The network tops net RWA flows over the last thirty days, with $348 million directed to the blockchain.
Several indicators help measure the scale of this evolution :
$348 million in net flows were recorded over thirty days ; The distributed value of RWAs reaches $4.23 billion, up 11.79% ; The number of wallet holders amounts to 398,644, an increase of 17.63% ; The transfer volume over thirty days reaches $3.72 billion, up 8.38%. Statistics updated on September 5 reveal that growth is not solely based on asset revaluation. Indeed, transactions and the number of wallets are also increasing, indicating broad usage of the products available on the blockchain.
However, one wallet does not necessarily equate to a distinct investor. The same individual or institution may control multiple addresses. This indicator thus measures the on-chain token distribution without precisely calculating the number of real users.
U.S. Treasury Bonds and Tokenized Stocks Support Growth RWAs are financial or physical assets represented as tokens on a blockchain. On Solana, this category mainly includes U.S. Treasury bonds, money market funds, private credit, and tokenized stocks.
U.S. public securities amounted to nearly $1.2 billion on the blockchain as of August 23, according to Solana Compass. Their value had thus increased by 16.1% in one month. Products such as Ondo’s USDY or BlackRock’s BUIDL fund also contribute to this expansion.
Tokenized stocks represent another important driver. Products like xStocks enable trading on Solana of digital representations of U.S. stocks and ETFs. They can also be traded on Raydium, Jupiter, and Kamino Finance.
Solana’s decentralized exchange platforms processed $5.8 billion in tokenized stocks in the second quarter of 2026. The blockchain reportedly accounted for 95 to 97% of the global volume on this segment through decentralized exchanges.
This trend is also visible over a longer period. The value of RWAs available on Solana was nearly $1.4 billion in January. With $4.23 billion at the beginning of September, it has nearly tripled in eight months.
Solana Dominates Recent Flows, but Not Yet the Total Market The $348 million represents nearly 8% of the current value of RWAs distributed on Solana. Such a proportion attests to the importance of recent inflows, even though valuation fluctuations and new issuances can also increase the total.
Solana is not yet the leading network in the sector. Ethereum held nearly $17.2 billion in RWAs at the end of August, more than four times the amount on Solana. The announced lead exclusively concerns flows over the last thirty days.
This distinction remains essential. A blockchain can temporarily capture more capital without holding the highest asset stock. The continuity of the trend will now depend on maintaining flows, expanding the number of holders, and the effective use of assets in transactions, credit, or payments.
Ultimately, the next phase will be to verify if Solana keeps this first place over several months. A simultaneous evolution of assets under management and transfer volumes would further reinforce the scenario of sustainable adoption.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
THORChain po dlouhém výpadku znovu provedl churn a průměrná doba tvorby bloku se zlepšila asi o 300 milisekund. POL zároveň běží, přičemž 20 % systémových výnosů míří do TRON $USDT poolu.
THORSday Community Podcast #231 ft. codehans1, Devel484, CBarraford, KentonC137 & patriotsounds | September 3, 2026 | Watch the full episode on YouTube
By Raynalytics
TL;DRTHORChain completed a long-awaited churn, but the stability focus continues for another week before reassessment. Monero remains built and working on stagenet, with its mainnet launch still waiting. A Gaia pause interrupted the next churn during the show.Protocol-owned liquidity is active, with 20% of system income being routed toward POL. Denny showed almost $22,000 on day three, with deposits going into the TRON $USDT pool.Rujira's app layer has resumed with two contracts still disabled. Hans wants emergency halts followed by prompt contact with the affected team and a clear route to resolution.Devel argues base-layer limit orders could improve quotes and execution for all swappers. Chad and Hans question the complexity and priority; Rujira's oracle-based DCL offers another approach to keeping trading value inside the ecosystem.Chad is building better metrics and log access for AI-assisted maintenance. Kenton reported stronger AI discovery, while ADR30's delegated node permissions still needed more votes.1. Churn Returns, but Stability Still Sets the PaceTHORChain finally churned again, bringing relief after the extended disruption. Devel said the change in the active node set immediately improved average block times by about 300 milliseconds as troubled nodes left and healthy ones entered.
That progress does not end the stability-first period discussed last week. Chad's Thursday engineering call favored another week of focused fixes, followed by reassessment. Outstanding Solana issues were one reason to continue.
"I'm hesitant to say that we've completed our stability without achieving stability." (Chad)For Monero followers, the message was explicit: the integration is built, functioning and working on stagenet. The team has not abandoned it. Monero and Zcash remain behind the decision to resume adding chains, with no new launch date given.
During the show, a Gaia pause complicated the next churn. Chad said a security concern was being investigated; details were still emerging. It illustrated a dependency he wants to revisit: adding a chain currently requires a churn. As more chains and signing schemes make that process more complex, he wants to remove avoidable dependencies on it. That is a proposed direction, not a completed redesign.
2. POL Starts Building Pool Depth Every BlockProtocol-owned liquidity, or POL, supplied the week's other concrete milestone. The setting was 20% of system income, and Denny showed almost $22,000 accumulated on day three. Allocations happen every block; the current destination was the TRON $USDT pool.
The discussion described pool selection as being recalculated each churn cycle, directing new liquidity toward an eligible pool based on its activity. The purpose is to build depth that stays under protocol ownership. Raynalytics' POL Income dashboard tracks the allocations, deposits and pool priorities.
"Its only interest is to just supply more liquidity and more depth to the pools." (Chad)Denny explored whether this made THORChain resemble an ETF or an index fund. Chad drew a boundary around that analogy: holding $RUNE does not give someone a direct redeemable share of the POL portfolio. The intended benefit is indirect, through deeper pools, more useful trading capacity and the fees that activity can generate.
Kenton floated a possible future distribution to $TCY holders if POL became sufficiently large. Chad treated that as an option, not a commitment. Treasury rebalancing was also raised, including Oleg's suggested $500,000 move toward TRON stablecoin liquidity. No allocation decision was announced.
3. Rujira Resumes With Two Contracts Still PausedThere is a material update to Saturday's discussion of the app-layer pause: Rujira is running again. Hans said the bond contract and its trading pair remained disabled while the team double-checked the relevant query paths.
He said the non-determinism issue had been fixed in v3.20, with further checks intended to establish that nothing remained. The broader lesson concerns separation: complex financial logic can sit on the app layer, but the base-layer queries it calls must still behave deterministically and contract execution must be bounded.
Hans accepted that emergency controls need to be usable immediately. His proposed follow-through was to pull the lever when necessary, contact the relevant team, and establish a clear path to resolution.
"We weren't really sure what the correct process to get things reenabled was." (Hans)The group also discussed malicious use of pause powers. Chad described counter-votes and possible governance action against offending nodes; these were responses to a hypothetical attack, not an announced automatic penalty.
Hans explained one safeguard in Rujira's credit-account design: collateral can still be sent to a position's address when app-layer execution is paused, including supported secured assets. That can help protect a position during market moves, but it does not restore every action. App-layer-only positions cannot necessarily be sold while their contracts are halted.
4. BLO's Promise Meets the Cost of More ComplexityDevel's base-layer limit-order proposal, or BLO, produced the episode's longest debate. The disagreement centered on whether the execution benefits justify adding another trading mechanism alongside THORChain's AMM pools.
Chad evaluates a feature by implementation effort, risk and expected return. BLO would add code, maintenance obligations and operational questions about how two liquidity mechanisms interact. He remains open to it, but gives it a lower priority while stability work continues. Hans shared those concerns, drawing on years of building on-chain order books and the pitfalls of rounding, iteration limits and execution time.
Devel's case is that the initial users may be a small group of arbitrageurs, while the beneficiaries are everyone whose swaps reach the base layer.
"It improves the quote, it improves the result, it improves the speeds, it reduces refunding." (Devel)He said existing limit swaps have details that make them unattractive for arbitrageurs. BLO is designed around that workflow, with the aim of winning more quotes for ordinary users. Devel and the Maya Protocol team would likely provide much of the implementation, although core review and testing would still be necessary.
Oleg Petrov from SwapKit supplied a concrete example through chat: a user wanted a fast $20 million swap involving shallow pools. BLO could let market makers post liquidity and serve it in smaller chunks. Chad challenged the assumption that enough capital would be waiting there. Devel agreed that makers would need time to reallocate funds. The example shows the opportunity and the unresolved liquidity problem; it is not a claim that BLO already solves large swaps.
Hans also explained Dynamic Concentrated Liquidity, or DCL, which Rujira is developing. Instead of quoting only along a fixed curve, it uses the strategy's average entry price and THORChain's enshrined oracle price to adjust bids and asks. Its aim is to retain more trading profit and liquidity within the ecosystem.
Devel questioned whether external arbitrageurs would capture opportunities before the oracle-driven strategy reacts. Hans welcomed the resulting price competition. Neither DCL's profitability nor BLO's adoption was presented as proven. The designs could also interact: Hans said the app layer could use base-layer order functionality if it becomes available.
5. AI Maintenance Needs Better VisibilityHans and Chad agreed that agents can already use open blockchain interfaces. An agent can generate keys and broadcast transactions; a special agent-branded chain is not a prerequisite. A convenient cross-chain command-line wallet could help, but Hans noted that agents can also work with multiple existing tools.
Chad's immediate work is more operational. He wants protocol metrics pushed into Midgard, where statistical analysis can flag unusual values. An agent could then connect those anomalies to code and logs, investigate causes and potentially open a proposed fix.
The second piece is a THORNode API for querying logs over a block range. Together, these would give developers and agents more context without requiring every investigator to run a node. Devel said he already uses a restricted MCP server to give an agent log access, and had built monitoring that notified him when a churn succeeded.
There are limits. Data from one node may not explain why another node has a different app hash. Bifrost logs also remain a separate operator-controlled source. Chad discussed possible private, opt-in sharing later, while stressing that sensitive log contents require care. Broader visibility is work underway, not a deployed autonomous maintenance system.
6. Better AI Discovery, but a Weak August Fee-Test SampleKenton showed the swap site's score on Ora, reporting an improvement from 18/100 two months earlier to 89/100. He credited SEO work and the Unstoppable Wallet developers, and said he and Randy were now seeing daily API-key requests, including projects finding THORChain through AI search. Some requests were spam or individual inquiries, so this is evidence of visibility, not a count of signed integrations.
He is also replacing older “liquidity protocol” descriptions with “decentralized exchange” where possible, so search systems associate THORChain with a term people actually use.
"We have to stop inventing words that nobody uses." (Kenton)Distribution work continues through DeFi Llama: the first paid article has launched, with roughly monthly articles planned over the next year. Blockworks also announced its dashboard. Referral tracking links were still being finished.
On execution, Kenton reported fixes for THORChain Swap, including $USDT allowance handling and THORName address entry. He asked users to retest Bitcoin Taproot flows, including a reported Ledger issue, rather than treating every route as independently verified.
The dynamic-fee experiment had a less encouraging month. Chad reported roughly $187,000 of ShapeShift volume for THORChain in August, about 6.1% of the total. He considered the sample too small for a strong conclusion and wants to add higher-volume affiliates after the stability period, with Edge Wallet mentioned as a possibility. Better discovery and better routing economics still need to turn into sustained flow.
7. ADR30 and the Next Wave of Node OperatorsADR30 remained around 37% support during the recording. The Liquify proposal would let a node owner delegate selected tasks to other addresses without handing over the key controlling the bond. A team could separate routine operation from custody, making the setup more practical for professional infrastructure providers. The vote was still open; follow it on the governance tracker.
The standby queue was another sign of activity. Denny highlighted Runetard for helping bond providers become independent node operators and encouraged other multi-node operators to consider doing the same.
The group was cautious about accelerating churn merely to clear the backlog. Chad and Devel preferred gradual changes while reliability improves. Devel also highlighted the rule that the lowest-bonded node no longer has to leave unless the active set is at capacity, allowing smaller operators to remain when they perform well.
What to WatchNext Thursday's stability review: whether remaining issues are resolved enough to resume new-chain launches, including Monero and Zcash.POL deployment: how much income accumulates, where deposits land and how pool priorities change across churn cycles.Rujira's remaining pauses: completion of the contract checks and clearer communication around future emergency halts.BLO and DCL evidence: implementation review, testing, execution benefits and how much liquidity each design can attract.AI maintenance tooling: delivery of metrics and log access, with clear boundaries around operator-specific data.Conversion into flow: whether AI discovery, paid distribution and a broader dynamic-fee sample produce sustained activity.ADR30 and node growth: further votes, successful churns and independent operators entering the active set.More THORChain data, check out raynalytics.net
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Chybný cenový feed Pragma na Starknetu spustil u Vesu nepravidelnou likvidaci 47 pozic a zasáhl kolaterál v hodnotě 3 milionů USD. Vesu tvrdí, že jeho kontrakty fungovaly správně, a pracuje na obnově prostředků pro postižené uživatele.
Starknet lending protocol Vesu has reported that a faulty Pragma price feed triggered the abnormal liquidation of 47 positions holding $3 million in collateral on Sept. 4.
Summary
47 Vesu positions were liquidated across several pools during a two-minute oracle failure. $3 million in collateral was affected before the Pragma price feed corrected itself. Vesu said its contracts worked as programmed and contained no protocol vulnerability. Vesu and other Starknet organizations are trying to recover funds for affected users. Vesu traces $3M liquidation to Pragma price feed Vesu said in a Sept. 5 incident disclosure that the liquidations occurred between 04:08 and 04:10 UTC on Sept. 4 after an upstream price source operated by Pragma supplied incorrect data.
🚨 Update on the 4th September oracle incident
A faulty upstream Pragma price feed caused 47 positions and $3M of collateral to be irregularly liquidated across several Vesu pools between 04:08 and 04:10 UTC
The feed corrected itself within two minutes, and nothing has been…
— Vesu (@vesuxyz) September 4, 2026 During the two-minute incident, the faulty prices reached several Vesu liquidity pools and made 47 borrowing positions appear eligible for liquidation. Automated liquidators then removed approximately $3 million in collateral before the feed returned to the correct value.
According to the protocol, the price source corrected itself within two minutes and has operated normally since then. Vesu did not identify the affected assets or provide a pool-by-pool breakdown in its initial statement.
The company also did not disclose how far the incorrect prices differed from market rates, the amount of debt attached to the liquidated positions, or how much collateral liquidators retained. A technical report covering the incident is expected to provide more information about the affected markets and the sequence of on-chain transactions.
Pragma has since worked with the relevant organizations to deploy a fix addressing the source of the error, Vesu said. Liquidity pool curators suspended affected pools as a precaution, with Vesu expecting them to remove the restrictions after reviewing the fix.
Because Vesu uses isolated and curated lending pools, decisions on reopening individual markets rest with their curators. The initial update did not identify which curators had paused their pools or provide an exact timetable for restoring normal activity.
Vesu says its contracts contained no vulnerability Separating the incident from a smart contract exploit, Vesu said its contracts were “operating as designed” and did not contain a vulnerability. The protocol added that it had no contract patch to deploy because the liquidation engine responded to the prices it received.
In an overcollateralized lending market, a borrower deposits assets worth more than the value of a loan. The protocol uses an external price feed to measure the collateral ratio, and a liquidation may begin when that ratio falls below the pool’s required level.
Vesu attributed the Sept. 4 liquidations to bad inputs rather than faulty execution. Under its account, the contracts received incorrect collateral prices and processed the affected positions according to the rules already written into the protocol.
A July 2026 liquidation risk explainer from crypto.news described price data as the central input used to calculate a DeFi loan’s health factor. The report noted that stale or manipulated data can liquidate a healthy position or prevent an unsafe one from being closed.
Oracle dependence also extends beyond lending markets. An August 2026 report on blockchain oracles explained that smart contracts cannot independently read off-chain market prices, leaving them reliant on outside systems that collect, combine and publish data on-chain.
According to that report, an oracle normally handles data sourcing, aggregation, and on-chain delivery. A failure at any of the three stages can pass an inaccurate value to an otherwise functional smart contract, which may then complete a trade or liquidation based on the faulty input.
Recovery talks involve Starknet organizations Following the incident, Vesu said it began coordinating with Pragma, StarkWare, the Starknet Foundation, and the curators of the affected pools to recover funds collected through the liquidations.
The protocol has not yet explained how the recovery process will operate, how much of the $3 million remains recoverable, or whether liquidators have agreed to return any assets. Its statement also stopped short of announcing a guaranteed reimbursement amount or payment date.
For users with deposits in Vesu’s Earn product, the protocol advised keeping their positions open. Closing an Earn position before the recovery process is complete may remove the user’s eligibility for a refund, according to Vesu.
Borrowers whose positions were liquidated during the two-minute window were asked to open a support ticket through Vesu’s Discord server. The protocol did not specify what records users must submit, though wallet addresses and transaction details can identify affected positions on-chain.
Vesu’s response differs from an automatic reversal because blockchain transactions generally remain final after confirmation. Any restoration would therefore require recovered assets, voluntary returns from liquidators, protocol-controlled funds, or another compensation arrangement agreed upon by the parties. Vesu has not said which route it plans to use.
A comparable oracle-related event occurred on Aave in March 2026, when a stale parameter caused an estimated $26 million to $27 million in unintended wstETH liquidations. An August 2026 review of the incident reported that Aave later examined oracle update rates and fallback systems while using several oracle sources for major collateral types.
Vesu has not announced comparable changes to its oracle structure. Pragma’s root-cause fix was the only technical measure confirmed in the initial disclosure.
US users depend on Vesu’s recovery process For users in the United States, the incident involves a permissionless DeFi product rather than an insured bank account. The SEC’s Investor.gov website states that the FDIC insures deposits at eligible banks but does not protect securities or similar investments against a decline in value.
Vesu did not point to any government-backed protection for affected users. Instead, it directed them to its own support process and said the organizations involved were working to recover the collateral taken during the abnormal liquidations.
The protocol has not disclosed whether it restricts recovery by nationality or residence. Its instructions apply to users whose positions were liquidated during the identified window and to Earn depositors seeking to preserve possible refund eligibility.
At the network level, Vesu forms part of Starknet’s DeFi infrastructure. Starknet identified the lender as one of the protocols supporting its STRK20 privacy rollout in June 2026, alongside decentralized exchanges avnu and Ekubo and staking provider Endur.
Vesu said it will publish a complete technical report after its investigation, while affected borrowers can submit Discord support tickets, and Earn users have been told not to close their positions.
BlackRockův iShares Bitcoin Trust zaznamenal za jedinou obchodní seanci příliv 117,4 milionu USD, čímž pomohl zvýšit denní čisté přílivy do amerických spotových bitcoinových ETF na 174,6 milionu USD.
BlackRock’s iShares Bitcoin Trust pulled in $117.4 million in a single trading session on September 4, 2026, as clients continued to channel capital into the world’s largest spot Bitcoin ETF.
The daily haul pushed total U.S. spot Bitcoin ETF inflows to $174.6 million that day, with Fidelity’s FBTC contributing the remaining $57.2 million. A day earlier, IBIT alone had absorbed $454 million, which puts the two-day combined figure well above half a billion dollars.
How IBIT actually works Worth clarifying: BlackRock is not buying Bitcoin for itself. The firm has been explicit that it only transacts in Bitcoin when clients instruct it to through the fund, acting as an intermediary rather than a principal investor.
Inflows and outflows correspond directly to creations and redemptions in the ETF structure, meaning every net inflow day represents actual Bitcoin being purchased on behalf of clients in the open market, handled in partnership with custodians like Coinbase Prime. That $117.4 million is not an accounting abstraction.
The bigger picture behind one day’s number Cumulative net inflows into IBIT have now exceeded $60 billion since the fund launched in January 2024, cementing its position as the dominant vehicle in the U.S. spot Bitcoin ETF category by a considerable margin.
IBIT has led net inflows across the U.S. Bitcoin ETF landscape consistently throughout 2026. Fidelity’s FBTC has been the closest competitor, but the gap has remained wide.
The September 3 single-day figure of $454 million deserves attention on its own. Days with inflows of that magnitude were notable events in 2024 and early 2025. By mid-2026, they have become a recurring feature of the market rather than a headline anomaly.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin ETF za tři týdny přilákaly zhruba 3,8 miliardy USD, což potvrzuje návrat institucionální poptávky. Nejvíc peněz šlo do IBIT od BlackRock a FBTC od Fidelity.
Over the past three weeks, Bitcoin ETFs have captured approximately 3.8 billion dollars. This is their best performance since the beginning of this year. In the last week, they attracted an additional 986.9 million dollars despite a withdrawal. This recovery thus confirms the return of institutional demand, although it has not yet offset all the outflows recorded since January.
In Brief Bitcoin ETFs attract nearly 3.8 billion dollars in three weeks. BlackRock and Fidelity concentrate the inflows recorded on Friday. Flows remain positive despite Bitcoin falling below 80,000 dollars. Funds are redirected towards Bitcoin, while Ethereum and XRP ETFs slow down. Three Weeks Erase a Large Part of 2026 Outflows In the week that ended on September 4, Bitcoin ETFs recorded inflows of 986.9 million dollars. This result exceeds the inflows of the previous week by nearly 7%.
The total thus amounts to approximately 3.8 billion dollars over three weeks. However, ETFs still display nearly one billion dollars of outflows since the start of the year. The current recovery has therefore significantly reduced the deficit without completely erasing it according to SoSoValue data.
The key statistics reveal the importance of capital inflows :
Inflows reached 986.9 million dollars in the last week ; The total for the past three weeks is nearly 3.8 billion ; Net inflows since launch are around 55.6 billion ; Net assets held by funds amount to 101.3 billion ; The 2026 balance remains negative by about one billion dollars. About 1.92 billion was collected in the first week of this streak. Nearly 924 million dollars were added in the following weekly period, and then 986.9 million during the last. This consistency distinguishes the current sequence from a simple exceptional day.
BlackRock Captures Two Thirds of Friday’s Inflows On September 4, ETFs captured 174.6 million dollars. This amount remains significantly lower than the 730.8 million attracted the previous day, yet it allows the category to close the week with a second consecutive positive session.
BlackRock’s IBIT ETF received 117.4 million dollars, or nearly 67% of the daily total. Fidelity’s FBTC reported 57.2 million dollars. As for other funds, they recorded no net inflows or outflows during the session, according to the Farside Investors table.
This dominance by BlackRock is also visible in cumulative data. IBIT has totaled over 64 billion dollars in inflows since its launch. Fidelity is just behind with nearly 10.3 billion dollars.
This concentration means that a significant share of demand still depends on two large funds. On Friday, IBIT and FBTC provided all the category’s positive flows.
Inflows Increase Despite Bitcoin Falling Below 80,000 Dollars Bitcoin dropped from nearly 81,200 dollars to less than 79,000 dollars during Friday’s session. Afterwards, it moved around 79,700 dollars. However, it maintained a weekly gain close to 2.6%.
ETFs therefore continued to attract capital despite the price drop. This divergence may indicate that some investors use the decline to consolidate their exposure. However, it does not guarantee an immediate price recovery.
This distinction is illustrated by the total valuation of assets held by ETFs. From Thursday to Friday, it fell from 103.3 billion to 101.3 billion dollars, even as funds collected 174.6 million dollars. Bitcoin’s drop reduced asset valuations faster than new capital increased them.
Thus, net flows measure subscriptions and redemptions of shares. Assets also account for Bitcoin price changes. An increase in inflows does not immediately trigger a corresponding rise in assets under management.
Funds Move Away from Ethereum and XRP ETFs For Bitcoin ETFs, demand has consolidated, however it has fundamentally slowed down for other crypto products. Ethereum ETFs recorded only 218.4 million dollars in the week, compared to 824.4 million the previous week. This drop is close to 74%.
Inflows in XRP ETFs fell from 110.5 to 19 million dollars, or a drop of nearly 83%. Despite this slowdown, both categories remain positive since January. Ethereum products have accumulated nearly 863 million dollars of inflows this year, compared to 515 million for those dedicated to XRP.
The current movement thus signals a rotation of capital towards Bitcoin. For confirmation of a durable trend, Bitcoin ETFs need to maintain positive inflows and erase the one billion dollar outflow still accumulated since the start of this year.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
XRP Ledger poprvé překročil 8 milionů aktivovaných účtů, ale denní aktivita klesla asi o 61 %. Současně vzrostla průměrná hodnota transakce na 85 000 až 86 700 USD.
The XRP Ledger just hit 8 million activated accounts for the first time. That sounds like a growth story. Look closer, though, and the picture gets more complicated.
Daily active addresses on the network fell roughly 61% in one June 2026 snapshot, dropping to around 7,800 on its worst days and sitting near 25,350 during mid-year readings. The total number of funded wallets keeps climbing, but the share of those wallets actually doing anything on a given day has shrunk considerably.
What’s filling the gap is the size of the transactions that remain. Average transaction value on XRPL reached somewhere between $85,000 and $86,700 in 2026, a figure that reportedly surpasses the per-transaction average of both Bitcoin and Ethereum. When fewer people are moving money but each transfer is worth roughly the price of a suburban home, that tells you something meaningful about who is still showing up.
A network in transition The ledger crossed 8 million activated accounts in July 2026, up from approximately 7.85 million in March. New account creation has continued, averaging around 2,300 fresh wallets per day since March, though the pace of additions has slowed from earlier peaks.
Transaction counts, meanwhile, paint an interesting contrast with the falling active-address numbers. Certain periods showed a 38% rise in total transactions alongside a 110% jump in transactions per ledger, even as overall payment volumes declined. More transactions, fewer active accounts, larger individual transfers: the ledger is doing more heavy lifting per session, not more sessions overall.
The clearest explanation sits in what those transactions are increasingly made of. RLUSD, Ripple’s dollar-pegged stablecoin, has been expanding its issuance on XRPL. Tokenized real-world assets are also proliferating on the network, with associated value running into the hundreds of millions and, in some readings, into the billions. Both categories skew toward institutional counterparties settling large positions rather than retail users making small payments.
What institutional gravity means for XRPL’s positioning The expansion of tokenized real-world assets on the ledger fits a broader market trend. Across multiple blockchains, asset managers and financial institutions have been piloting or deploying tokenized versions of treasuries, money market funds, and other instruments.
RLUSD’s growth on XRPL adds another institutional-grade layer. A regulated stablecoin anchored to the dollar and settling on a ledger purpose-built for high-value transfers is a more compelling argument for a bank treasury desk than for a retail crypto trader.
The retail cooling, though, deserves honest acknowledgment. Daily active addresses in the low thousands represent a significant contraction in grassroots network participation.
The regulatory backdrop matters here. Ripple’s multi-year legal dispute with the US Securities and Exchange Commission effectively resolved in the company’s favor on key points, removing one of the larger clouds over the token and the ledger. That outcome opened doors with regulated financial institutions that had been waiting on the sidelines, which likely contributed to the institutional activity uptick visible in 2026’s on-chain data.
For investors watching XRP as a proxy for network health, the metrics demand a framework update. Traditional crypto valuation heuristics lean on daily active addresses and transaction counts as signals of organic demand. XRPL’s 2026 data suggests those numbers need to be weighted against average transaction size and the composition of network activity. A ledger moving billions in tokenized assets through fewer, larger transactions can be healthier in economic terms than one generating thousands of tiny transfers from speculative retail flows.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The CLARITY Act, which aims to define regulatory boundaries for digital assets in the United States, is facing new challenges due to sudden schedule changes in Congress. While the bill has cleared procedural hurdles in the Senate, the House of Representatives has unexpectedly canceled the final two weeks of its planned September session.
The Schedule ConflictAccording to crypto analyst Diana, this shift creates a narrow window for lawmakers to finalize the CLARITY Act. The Senate has scheduled its initial action for September 15, including a key cloture vote. However, House members are now expected to leave Washington by September 17 and are not scheduled to reconvene until mid-November.
This two-day gap between the Senate’s intended progress and the House’s early departure presents serious timing issues. The Senate process, which could take between 1.5 and 2 weeks due to procedural votes and potential amendments, may not conclude before the House adjourns.
Crypto analyst Diana highlighted the legislative risk, calling attention to the House’s early exit: “The House is set to leave on September 17 and may not return until mid-November, dramatically shortening the remaining legislative window.”
Should the Senate’s version of the CLARITY Act differ from the text already passed by the House, the two chambers will be forced to resolve these differences before it can be sent to the President for final approval.
What Comes Next?Even with the scheduling conflict, Senate leaders remain determined to proceed. Senator Tim Scott has publicly stated that lawmakers expect to make progress on the bill in September, which is considered the most favorable period for advancing digital asset regulation before elections reshape the political landscape.
The CLARITY Act has already passed the House in 2025 and advanced through the Senate Banking Committee in May. Before the Senate’s recess, Majority Leader John Thune filed for cloture, ensuring the measure would receive floor time once senators returned.
If the bill is not finalized before mid-November, any further House action could take place in a changed political environment after the election, potentially affecting legislative priorities and timelines.
Mini dictionary: The CLARITY Act is a proposed US law intended to create firm guidelines for how digital assets are classified and regulated, designating whether the Securities and Exchange Commission or the Commodity Futures Trading Commission has authority over specific tokens.
Senator Cynthia Lummis has warned that if the CLARITY Act misses its current window, progress toward digital asset regulation may be postponed until 2030.
What This Means for XRPXRP holders and industry participants are closely watching the bill’s progress. The CLARITY Act is expected to provide clarity on which federal agency will oversee digital assets such as XRP, a long-standing point of uncertainty for Ripple and its investors.
A swift passage before the elections would deliver much-anticipated regulatory certainty for Ripple and the wider crypto ecosystem. However, a delay until after the House’s return could mean extended uncertainty for companies and asset holders, as new leadership or shifting priorities may slow the legislative process further.
With the House out until mid-November, risk increases for XRP investors who have awaited clear regulatory guidance. If Congress does not act quickly, the timeline for digital asset rules could be pushed back by years.
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.
U.S. spot Bitcoin and Ethereum exchange-traded funds attracted a combined $1.20 billion during the trading week ending Sept. 4, with Bitcoin products accounting for more than 80% of the total.
Summary
Spot Bitcoin ETFs recorded $986.7 million in weekly net inflows. Ethereum ETFs added $215.3 million, down sharply from the previous week. BlackRock’s Bitcoin funds attracted $691.5 million across the five sessions. The largest combined inflows arrived on Sept. 3 as crypto prices rebounded. Bitcoin ETF inflows approach $1 billion According to data from Farside Investors, U.S. spot Bitcoin ETFs recorded $986.7 million in net inflows between Aug. 31 and Sept. 4. The weekly intake increased about 6.7% from the $924.5 million added during the previous five trading sessions.
The funds opened the week with $216.7 million in net inflows on Aug. 31 before recording $236.5 million in withdrawals on Sept. 1. Demand returned over the following three sessions, producing inflows of $101.1 million, $730.8 million, and $174.6 million.
Sept. 3 accounted for roughly 74% of the entire weekly total. BlackRock’s spot Bitcoin products attracted $454 million that day, while ARK Invest and 21Shares’ ARKB added $137.7 million. Fidelity’s FBTC and Grayscale’s Bitcoin Mini Trust recorded $74.4 million and $48.8 million, respectively.
BlackRock’s products led the full week with about $691.5 million in net inflows. ARKB followed with $137.7 million, while Fidelity’s fund added $94.8 million.
Bitwise’s BITB received $41.7 million during the period. VanEck’s HODL posted approximately $33 million in net withdrawals, while Grayscale’s converted GBTC fund recorded a modest $18.6 million inflow.
The five-day result brought cumulative net inflows across the U.S. spot Bitcoin ETF market to approximately $55.69 billion, according to Farside’s data.
Ethereum ETF demand slows from the previous week U.S. spot Ethereum ETFs recorded $215.3 million in net inflows over the same period, Farside data showed. Although the funds remained net positive, weekly inflows fell by around 73.6% from $815.7 million during the previous week.
Ethereum products started the period with an $87.6 million inflow on Aug. 31 and added another $8.6 million on Sept. 1. The group then recorded $48.2 million in net outflows on Sept. 2 before attracting $141.4 million on Sept. 3 and $25.9 million on Sept. 4.
BlackRock’s ETHA brought in $136.4 million during the week, while its staked Ethereum product ETHB added $81.8 million. The two BlackRock funds therefore received a combined $218.2 million, slightly more than the category’s total net inflow after withdrawals from competing products were included.
Fidelity’s FETH ended the week with only $4.7 million in net inflows. The fund attracted $65.1 million on Sept. 3 but lost $48.3 million the following session.
Grayscale’s higher-fee ETHE recorded $37 million in weekly net outflows. Grayscale’s lower-cost Ethereum Mini Trust partly offset those withdrawals with $17.1 million in inflows.
Cumulative net inflows into U.S. spot Ethereum ETFs reached approximately $13.19 billion by the end of the week.
Crypto ETF inflows diverge from wider U.S. funds The $1.20 billion combined inflow into Bitcoin and Ethereum ETFs came during a cautious period for conventional U.S. investment funds.
Investors withdrew $11.12 billion from U.S. equity funds during the week ending Sept. 2, according to LSEG Lipper data reported by Reuters. Large-cap funds accounted for $7.52 billion of those withdrawals, while money market funds attracted $48.76 billion.
Reuters tied the broader caution to rising bond yields, higher oil prices and tensions in the Middle East. Those factors weighed on risk assets earlier in the week, but sentiment improved on Sept. 3 after Federal Reserve Governor Christopher Waller said he could support keeping interest rates unchanged if inflation continued to ease.
The shift coincided with the largest daily crypto ETF inflows of the week. Bitcoin and Ethereum funds collectively attracted about $872.2 million on Sept. 3, while Bitcoin climbed above $81,000 and Ethereum moved back toward $2,500.
The subsequent reversal showed that ETF inflows did not remove short-term macro risks. Bitcoin was trading near $79,664 at the time of writing, down about 1.8% over the latest session, while Ethereum traded around $2,458 after a 2.8% decline.
U.S. data keeps rate expectations in focus The next test for ETF demand could come from changing expectations for U.S. interest rates. The Bureau of Labor Statistics reported that nonfarm payrolls increased by 162,000 in August, while the unemployment rate remained at 4.1%.
The stronger labor data reduced some of the optimism created by Waller’s comments because a resilient economy could give the Federal Reserve more room to keep borrowing costs elevated.
Investors will now focus on the Sept. 11 U.S. consumer price index report and the Federal Reserve’s Sept. 16 policy decision. Further evidence of persistent inflation could pressure crypto prices and ETF demand, while softer inflation would support the case for stable or lower interest rates.
Despite those risks, the weekly figures showed that U.S. investors remained net buyers of both major crypto ETF categories. Bitcoin products maintained their momentum from the previous week, while Ethereum funds stayed positive even as their weekly intake slowed.
