Evernorth Holdings, a company backed by Ripple, has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) to register 11,499,992 Class A common shares. These shares are tied to the company’s public warrants, as Evernorth explores further expansion of its XRP holdings.
According to the filing, the 11.5 million Class A shares may be issued if public warrant holders choose to exercise their rights to buy shares at $11.50 each. With Evernorth’s stock trading at $15.45 as of October 16, the warrants are currently “in the money.” This means exercising them could be attractive to warrant holders, due to the difference between the exercise price and the current stock price.
A warrant grants its holder the option to purchase a company’s stock at a specific price. When the market price trades above this threshold, warrant holders may profit by purchasing shares below market value and potentially selling them at the prevailing price.
However, the prospectus does not result in an immediate release of all 11.5 million shares. The total number of new shares issued will depend on how many warrant holders actually decide to exercise their warrants for cash.
Share typeShares registeredWarrant exercise priceStock price (Oct 16)Warrant price (Oct 16)Class A common11,499,992$11.50$15.45$4.16 Evernorth has registered 11,499,992 Class A shares issuable on warrant exercise at $11.50 each. On October 16, these shares traded nearly $4 above the exercise price, making the warrants in the money.
XRP Treasury ObjectivesEvernorth, which is actively working to build a treasury of XRP, has indicated that it intends to sell more equity units to support additional purchases of the cryptocurrency. XRP is a digital payment asset closely associated with Ripple, designed for fast and low-cost international value transfers.
Despite these ambitions, the current prospectus does not directly state that proceeds from the warrant exercises will be used to buy more XRP. The company also has not confirmed any recent XRP purchases linked to the new filing. Evernorth could decide in the future to allocate funds raised through exercised warrants to expand its XRP reserves, but those decisions remain at the company’s discretion.
Mini dictionary: Evernorth Holdings is a U.S.-based financial and technology company known for building blockchain-based products. It has attracted attention due to its partnership with Ripple and its stated intention to hold XRP as a treasury asset.
Market participants have watched Evernorth’s strategy closely, as increased demand for XRP from corporate treasuries could potentially influence the asset’s price direction, especially during periods of trading consolidation.
Evernorth has stated intentions to issue additional equity units to finance future XRP purchases, although the latest prospectus does not guarantee such acquisitions will occur.
Should the registered warrants be exercised and new shares issued, existing shareholders could see their holdings diluted. Share dilution occurs when the total number of outstanding shares increases, reducing each investor’s proportional ownership.
The prospectus clarifies that while Evernorth would receive cash if warrants are exercised at $11.50 per share, the company will not benefit from proceeds when those shares are later sold by investors through the public markets.
For investors in XRP, the key question remains whether Evernorth will translate fundraising from share and warrant activity into larger cryptocurrency holdings. The answer will likely depend on the company’s future treasury policies and operational decisions.
XRP inflows to exchanges have hit seven-month highs as more than 6 billion tokens were deposited in the last 30 days.
Key points:
Rolling 30-day inflows to exchanges hit 6 billion XRP on Oct. 19, their highest value in seven months.The 90-day moving average of whale outflows fell to $49.7 million, its lowest levels in five years, as analysts see a lack of interest in the XRP/USDT pair.The realized profit/loss ratio has dropped 41% in October as rangebound trading conditions return.XRP whale interest absent as exchange inflows climb: AnalysisNew research from onchain analytics platform CryptoQuant reveals that on a rolling 30-day basis, XRP exchange inflows are at their highest since March.
In the 30 days to Oct. 19, inflows totaled 6.05 billion XRP and have doubled since mid-August. During this time, XRP/USD increased from around $1 to a maximum of $1.70 before correcting to the current levels around $1.30.
“The rise in total inflows to more than 6 billion XRP, reaching a seven-month high, signals a clear shift in asset movement toward exchanges. This could reflect increased trading activity and liquidity on these platforms, or a rise in the movement of XRP between wallets and exchanges,” CryptoQuant commented.
Further analysis covering exchange withdrawals from whales shows that XRP is “attracting less and less attention.” CryptoQuant suggests that large-volume investors may be waiting for more advantageous prices before increasing exposure.
The 90-day moving average of whale outflows hit a high of $3.5 billion in February 2025, shortly after XRP’s all-time high at $3.40. Since then, whale outflows are down 98.6% and the 90-day moving average currently stands at $49.7 million. This is its lowest value since October 2021.
“From a long-term perspective, this suggests XRP could lack buying volume without whale support,” CryptoQuant commented while acknowledging XRP’s “notable resilience” during the 2026 crypto bear market.
Bitcoin rangebound price action eases profit-takingOnchain data confirms that Bitcoin investors also stepped back in October as BTC/USD traded within a range between $80,000 and $87,000.
In its latest Market Pulse bulletin released on Monday, crypto analytics platform Glassnode reported reduced profit-taking across the Bitcoin investor base. The realized profit/loss ratio dropped from 0.8 to 0.4, a decrease of 50%, over the past week.
“This contrast demonstrates that profit realized activity cooled relative to loss realization onchain, highlighting a transition toward more subdued sentiment and diminished aggressive spending by market participants,” Glassnode summarized.
Bitcoin realized profit/loss ratio (screenshot). Source: Glassnode
As bulls continue to lose strength, XRP price risks falling below $1.00, especially after losing its 50-day moving average.
Widely followed analyst 360Trader highlighted this warning on X, noting a fair value gap (FVG) below the token’s current price.
The analyst said XRP was trading near its 200-day moving average at approximately $1.28 after losing the 50-day average. He also pointed to an unswept low below the current price and warned that a breakdown could expose XRP to a liquidity zone extending toward $1.00.
Meanwhile, the analyst suggested that the potential decline could present a buying opportunity. Specifically, he noted that if XRP reaches $1.00, he would be ready to accumulate more tokens.
XRP Chart Highlights $1.28 as a Key Level The XRP/USD chart shows the token trading around $1.31. The $1.28 area near the 200-day moving average is serving as a key level to watch. Below it, the blue-shaded fair value gap extends toward $1.00, marking the downside zone highlighted by 360Trader.
The volume profile also shows concentrated trading activity around $1.35–$1.45, an area XRP may need to reclaim to strengthen its recovery attempt.
XRP daily chart showing it holding the 200-day (~$1.28) FVG + liquidity waiting down to $1.00 Can XRP Price Avoid a Drop to $1.00? Holding above $1.28 could help XRP stabilize, while a breakdown may bring the lower liquidity zone into focus. At press time, XRP was trading at $1.29, down 6% over the past week.
Meanwhile, many market commentators are also sharing this bearish outlook on X. For instance, commenting on 360Trader’s post, analyst ChartNerd reiterated his long-standing prediction that XRP would dip below $1 again in 2026.
$XRP to revisit $1 territory by EOY. https://t.co/Szu3VnaO7O
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) October 13, 2026
Likewise, analyst Gerla has warned that XRP’s outlook is weakening after the latest weekly candle fell below a key indicator. He noted that a move below the 200-day exponential moving average (EMA) would back bearish momentum.
However, reclaiming $1.37 could improve the outlook for XRP. The coin must also break above its weekly 50-period moving average near $1.49 to strengthen its recovery prospects.
Despite the weakness, historical patterns suggest that XRP is approaching the bottom of its bear cycle. Its monthly chart shows the price below the 50-period moving average but above the 100-period average near $0.84, leaving room for a retest of $1.00 or a further decline toward $0.84.
Hope Remains However, these analysts insist that their predictions concern only XRP price short-term performance and do not affect their long-term outlook.
For instance, 360Trader’s bearish post also references his longer-term expectations for growth in the cryptocurrency market. The analyst cited predictions that trillions of dollars could flow into the market, although the timing and potential impact on XRP remain uncertain.
XRP inflows to exchanges have hit seven-month highs as more than 6 billion tokens were deposited in the last 30 days.
Key points:
Rolling 30-day inflows to exchanges hit 6 billion XRP on Oct. 19, their highest value in seven months.The 90-day moving average of whale outflows fell to $49.7 million, its lowest levels in five years, as analysts see a lack of interest in the XRP/USDT pair.The realized profit/loss ratio has dropped 41% in October as rangebound trading conditions return.XRP whale interest absent as exchange inflows climb: AnalysisNew research from onchain analytics platform CryptoQuant reveals that on a rolling 30-day basis, XRP exchange inflows are at their highest since March.
In the 30 days to Oct. 19, inflows totaled 6.05 billion XRP and have doubled since mid-August. During this time, XRP/USD increased from around $1 to a maximum of $1.70 before correcting to the current levels around $1.30.
“The rise in total inflows to more than 6 billion XRP, reaching a seven-month high, signals a clear shift in asset movement toward exchanges. This could reflect increased trading activity and liquidity on these platforms, or a rise in the movement of XRP between wallets and exchanges,” CryptoQuant commented.
Further analysis covering exchange withdrawals from whales shows that XRP is “attracting less and less attention.” CryptoQuant suggests that large-volume investors may be waiting for more advantageous prices before increasing exposure.
The 90-day moving average of whale outflows hit a high of $3.5 billion in February 2025, shortly after XRP’s all-time high at $3.40. Since then, whale outflows are down 98.6% and the 90-day moving average currently stands at $49.7 million. This is its lowest value since October 2021.
“From a long-term perspective, this suggests XRP could lack buying volume without whale support,” CryptoQuant commented while acknowledging XRP’s “notable resilience” during the 2026 crypto bear market.
Bitcoin rangebound price action eases profit-takingOnchain data confirms that Bitcoin investors also stepped back in October as BTC/USD traded within a range between $80,000 and $87,000.
In its latest Market Pulse bulletin released on Monday, crypto analytics platform Glassnode reported reduced profit-taking across the Bitcoin investor base. The realized profit/loss ratio dropped from 0.8 to 0.4, a decrease of 50%, over the past week.
“This contrast demonstrates that profit realized activity cooled relative to loss realization onchain, highlighting a transition toward more subdued sentiment and diminished aggressive spending by market participants,” Glassnode summarized.
Bitcoin realized profit/loss ratio (screenshot). Source: Glassnode
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.
As XRP's official X account went live, Ripple President Monica Long shared a message celebrating the people who built around XRP before its broader potential became obvious.
Engaging with the XRP official account's post, Long wrote on X: "The best part has been watching people build on something before it was obvious. Welcome @xrp!" Long added, celebrating the latest social media milestone while highlighting the importance of early builders who continued developing around the digital asset before it attracted wider recognition.
The best part has been watching people build on something before it was obvious.
Welcome @xrp!
HOT Stories
— Monica Long (@MonicaLongSF) October 19, 2026
Long's comments pointed to the role developers, builders, and community members play in growing the XRP ecosystem. The cryptocurrency has 8,247,694 addresses, a sign of the ecosystem's growth, according to XRP Scan.
On October 19, 2026 in a historic milestone, XRP's official X account went live under the @XRP handle after more than a decade, drawing enthusiastic reactions from Ripple executives and the wider XRP community. This marks more than 14 years after the XRP Ledger was initially launched.
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In 2011, three engineers—David Schwartz, Jed McCaleb, and Arthur Britto—began developing the XRP Ledger (XRPL), which later launched for the first time in June 2012.
The official XRP account posted its first message on X on October 19, a short logo video with the words "hello, world. It's about time." The post passed 260,000 views in about an hour and has surpassed 4 million views in less than 24 hours.
"This one has been a long time coming," Ripple CEO Brad Garlinghouse said in reaction to the debut of the official XRP X account.
Warning issued amid XRP buzzIn an earlier post, Hussein Zangana (Vet) hinted at many great announcements lately from big companies and institutions around XRP and the XRP Ledger. "I think this will probably accelerate in the coming weeks," he added.
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In this regard, Vet urged the XRP community to be cautious of scammers using vanity addresses and tokens to sell to them in exchange for real XRP/RLUSD.
Users are urged to treat everything offered, or that they see on explorers, as suspicious by default. They can only know if an XRP account or asset is legitimate if the institution or company discloses it on their official press sites; in other words, they should verify all information from official sources.
XRP withdrawals below 10,000 tokens surged 6.6-fold on Binance, while reserves across three major exchanges increased by 120 million.
XRP withdrawal activity on Binance has changed quite a bit over the past few weeks. Between September 30 and October 20, withdrawals below 10,000 XRP grew from just 3% to 19.7% of total outflow value.
This figure represents a 6.6-fold increase and the highest level since October 2024.
A Shift in XRP Exchange Activity
At the other end, transfers above 1 million XRP lost ground. Their share of Binance outflows fell from 60% to 38.6%, according to CryptoQuant. Transfers between 100,000 and 1 million XRP moved in the opposite direction, as the figures rose from around 24% to 27%. Even with that shift, larger transfers still make up most of the activity.
Outflows above 100,000 units accounted for 65.7% of Binance’s total XRP outflow value. Coinbase also saw a sharp drop in its largest withdrawal category. The share of outflows involving more than 1 million units fell from 43% on September 30 to 12.5% on October 20, which is a 70.9% decline in relative terms.
But the change in withdrawal sizes is only part of the picture. XRP reserves have also been rising across three major exchanges. Between October 5 and October 20, Binance holdings increased from 2.60 billion to 2.66 billion. Upbit reserves climbed from 6.41 billion to 6.45 billion, while Bithumb went from 1.82 billion to 1.84 billion XRP.
The three exchanges added 120 million XRP, bringing their combined reserves to 10.95 billion tokens from 10.83 billion. Binance accounted for half of the increase.
“Together, the figures highlight a shift in the relative shares of smaller versus larger XRP withdrawals, alongside a renewed increase in exchange reserves. October 20 readings remain subject to final daily confirmation.”
Analysts Hold On to Bullish Bets
XRP has lost more than 5% in the last seven days amid broader market turbulence. Spot ETFs providing exposure to the crypto asset are also feeling the heat. The funds recorded zero net flows on Monday after ending the previous week with $1.84 million in withdrawals.
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Not everyone has given up on XRP. Vincent Van Code is seeing the market turbulence differently. He believes the past week’s sell-offs were part of a wider crypto shakeout that pushed weaker investors out. According to him, long positions were wiped out, short sellers jumped in, and those bets were then liquidated too. He expects fresh all-time highs across the market in the coming weeks, followed by a slower, steadier bull run.
Another analyst, EGRAG CRYPTO, is also sticking to his bullish outlook and said that the token could reach $7 to $9 at the cycle top, well above its 2025 peak of $3.65.
XRP whale outflows on Binance have fallen to their lowest levels since October 2021, showing that large holders have become much less active.
XRP Whale Outflows Reach 5-Year Low Notably, the 90-day moving average (90-dma) of XRP whale outflows now stands at $49.7 million, far below the levels recorded during the previous market rally.
In February 2025, when XRP traded near its cycle peak of around $3.30, the same metric reached $3.5 billion. Daily outflow spikes also regularly exceeded $10 billion, as large investors moved significant amounts of XRP away from Binance.
These withdrawals confirmed that XRP witnessed strong accumulation as whales transferred their tokens to private wallets. Since February 2025, however, whale outflows have declined steadily.
XRP whale outflows on Binance drop to levels last seen in 2021 The 90-day moving average has dropped from $3.5 billion to $49.7 million, returning to levels last seen in October 2021. This period coincided with the peak of the previous Bitcoin market cycle, when institutional interest began to weaken, and large investors pulled back from aggressive market positions.
This comparison raises questions about XRP’s current position in the market. Although past trends do not guarantee similar outcomes, the latest reading shows that large holders are far less active than they were during the previous rally.
Why Lower XRP Whale Outflows Matter for Price Action Whale outflows from exchanges such as Binance often indicate accumulation. Large holders withdraw their tokens into private wallets, reducing the amount of XRP available for immediate sale on exchanges.
When these withdrawals fall considerably, it may mean whales have slowed their buying activity and are waiting for better prices before committing more money.
XRP’s relative strength during the current bear market may help explain this change. During the previous downturns in 2022 and 2023, sharp price drops created deeper discounts that attracted large investors looking to build substantial positions.
This cycle has not offered the same opportunity, as XRP has held up better than several other cryptocurrencies. The resilience may have made it harder for whales to find a price that justifies large purchases.
Instead of accumulating XRP aggressively at current levels, large investors may be waiting for lower prices or better signs that the market is recovering.
The decline in whale outflows does not prove that large holders have stopped buying altogether. However, the drop in the 90-day average from $3.5 billion in February 2025 to $49.7 million in October 2026 shows how much their withdrawal activity has slowed.
XRP Price Decline Adds to Selling Pressure Currently, XRP trades at around $1.30, down approximately 61% from its cycle peak. The token has also fallen about 4.81% over the past seven days amid continued pressure on its price.
The lack of strong buying from whales could make a sustained recovery more difficult. Without greater demand from large investors, XRP may struggle to overcome selling pressure and maintain an upward move.
Meanwhile, on-chain data shows another challenge, confirming that approximately 60% of the circulating XRP supply has a realized price of around $1.48.
This means a large portion of circulating XRP last changed hands at prices above the current market level. If the price climbs toward $1.48, some holders may sell to recover their initial investment. This could create additional resistance.
Could Low Whale Outflows Signal a Market Turnaround? Despite the current weakness, history shows there’s room for a possible recovery. Markets sometimes turn around after trading activity and investor interest fall to very low levels. As selling pressure eases, new buyers can begin to influence prices even before market sentiment improves.
For XRP, the question is whether the sharp decline in whale outflows indicates a prolonged wait for better prices or the later stages of the current market downturn. A decisive push above $1.65 alongside stronger buying activity could improve the bullish outlook. On the other hand, a break below $1.27 could expose XRP to further losses.
XRP’s biggest buyers appear to have stepped away from the checkout counter.
According to on-chain analyst Darkfost, with data corroborated by CryptoQuant, XRP outflows from Binance to large-holder wallets fell to a 90-day moving average of roughly $49.7 million as of October 20, 2026. That is the weakest reading since October 2021, a five-year low for a metric widely watched as a gauge of whale accumulation.
The numbers behind the slowdown
The current reading looks thin next to recent history. In February 2025, the same 90-day measure peaked at approximately $3.5 billion.
During that stretch, there were multiple instances where outflows exceeded $10 billion.
A more complicated picture beneath the average
In late September 2026, whales accounted for approximately 82% of total centralized exchange outflows at one point. That share later tapered off.
In the weeks leading up to October 20, Binance and Upbit reserves together decreased by approximately 104.7 million XRP.
Why whales are sitting on their hands
Darkfost’s explanation centers on a counterintuitive culprit: XRP has held up too well.
The analyst attributed the slowdown to XRP’s relative price resilience during the current bear market. When prices refuse to fall much, large buyers have less reason to accumulate aggressively.
That contrasts with the bear market lows of 2022 and 2023. During those periods, deeper price drops created incentives for large-scale accumulation, and whales took advantage.
Darkfost suggests existing large holders are likely holding out for better entry points before committing more capital.
What this means for XRP’s buying support
Darkfost warned that XRP’s long-term buying volume support could weaken further without renewed whale participation.
The approximately 82% whale share of exchange outflows from late September showed large holders can still dominate flows when they choose to act.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
The National Cryptocurrency Association (NCA) has submitted a formal comment letter to the U.S. Treasury regarding Section 3 rules of the GENIUS Act, marking a significant step in clarifying stablecoin regulation.
Industry’s framework for stablecoin regulationStuart Alderoty, NCA President and Chief Legal Officer at Ripple, signed the document, confirming industry support for a one-hundred-percent reserve requirement for stablecoins. However, he emphasized the need for a practical approach to shield retail users from potential risks associated with regulatory changes.
Alderoty addressed the need to protect Americans from being “stranded holding stablecoins if regulations change.” The NCA proposes a safe-harbor mechanism: a designated period following any issuer’s license revocation or missed compliance deadline—such as the July 18, 2028 date—allowing users to redeem, sell, or convert their stablecoins without incurring losses. This measure aims to provide exchanges with the ability to assist users technically without facing accusations of unlawful trading during this window.
Retail holders must have a temporary window to redeem or convert their stablecoins if an issuer’s license lapses, ensuring they are not left vulnerable during regulatory transitions.
The comment letter also emphasizes the importance of clear legal pathways for recovering stolen assets. The NCA advocates permitting the reissuance of payment stablecoins, under a lawful court order, to replace those lost through theft or accidental transfers. This action would fall under the “except as required by a lawful order” clause, according to the association.
Mini dictionary: National Cryptocurrency Association (NCA), a U.S.-based industry group representing crypto sector interests in regulatory matters.
New boundaries for wallets and self-custodyThe NCA further outlined boundaries distinguishing custodial professionals from software developers. Under its proposal, providers of non-custodial wallets and simple balance-display interfaces that do not control private keys should not be classified as intermediaries or sellers by regulatory bodies.
Any transactions conducted directly between individual users or within their personal wallets should remain outside agency restrictions, maintaining the right to self-custody and peer-to-peer transfers.
Service TypeNCA Proposed ClassificationRegulatory ImpactCustodial wallet providersIntermediary/SellerSubject to agency rulesNon-custodial wallet softwareDeveloper/Interface onlyOutside agency restrictionsThe association recommends that direct peer-to-peer (P2P) transfers, internal account moves, and activity restricted to self-managed wallets be protected from federal intervention, preserving users’ fundamental rights in cryptocurrency management.
Implications for the retail marketBy submitting these recommendations, the NCA seeks to shift industry-regulator dialogue toward pragmatic solutions and clear separation of technological responsibilities. The association’s approach aims to define technology’s role while balancing regulatory objectives with market stability.
Market observers note that with this filing, industry leaders have effectively placed the onus for ensuring retail market stability on the Treasury Department. The agency will now determine the final strictness of stablecoin regulations in the coming months.
, /PRNewswire/ -- Bybit, the New Financial Platform trusted by more than 80 million users worldwide, is pleased to announce Phase 4 of its exclusive RLUSD Hold & Earn program, continuing its dual-token rewards extravaganza powered by Ripple on Bybit, boasting 1.3 million XRP in prizes in the latest round.
Bybit Renews RLUSD Hold & Earn Phase 4 with 1.3 Million XRP Rewards and Zero Fee From now until Nov 18, 2026, eligible Bybit users can hold RLUSD in their accounts and earn daily rewards in both RLUSD and XRP. Optimizing returns and convenience, no staking, lock-up, or subscription is required. The RLUSD/USDT pair on Bybit Spot also continues to offer 0% maker and taker fees throughout the phase.
Highlights - Phase 4
Dual Rewards: Participants earn RLUSD at a base APR of up to 3.75%, alongside XRP bonus rewards drawn from a 1.3M XRP prize pool, powered by Ripple. The XRP bonus is subject to a holding-duration multiplier of up to 2x for participants who continuously hold RLUSD for 90 days or more. Competitive APR: The total actual APR combines RLUSD Base APR, bonus APR from a 1.3 million XRP Prize Pool, plus XRP Base APR multiplier, offering up to 2x for 90+ days continuous holding. Zero-Fee Spot Trading: The RLUSD/USDT spot pair continues to waive both maker and taker fees. Same Simplicity: Qualified participants holding a minimum of 1 RLUSD in their Bybit account stand to earn rewards automatically. Rewards are distributed daily. RLUSD is a USD-pegged stablecoin issued by Ripple, fully collateralized by U.S. Treasury bills, USD deposits, and other cash equivalents, maintaining a stable 1:1 peg to the U.S. dollar. XRP is the native token of the XRP Ledger, co-founded by Ripple, designed for fast, low-cost cross-border payments.
Terms and conditions apply. Actual fee rates may vary by region, and users are advised to refer to the My Fee Rate page for accurate rates. For full details on the APR, multiplier, eligibility, and potential restrictions, users may visit: RLUSD Hold & Earn Phase 4 - Up to 3.75% APR on RLUSD and 1.3M XRP rewards
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XRP inflows to exchanges rose sharply over the past month, reaching a seven-month high as more than 6 billion tokens moved onto trading platforms. This surge in deposits comes at a time when outflows from large holders, known as whales, have dropped to their lowest levels in five years.
XRP inflows surge while whale activity slowsRecent analysis from CryptoQuant, a leading onchain data provider, shows that rolling 30-day inflows to exchanges reached 6.05 billion XRP as of October 19. This level has not been seen since March, with inflow volume doubling since the middle of August.
During this period, XRP’s price against the US dollar rose from around $1 to as high as $1.70 before sliding back to $1.30. While these inflows generally suggest increased activity and liquidity, they have not been accompanied by a commensurate rise in large-investor engagement.
“The rise in total inflows to more than 6 billion XRP, reaching a seven-month high, signals a clear shift in asset movement toward exchanges. This could reflect increased trading activity and liquidity on these platforms, or a rise in the movement of XRP between wallets and exchanges,” CryptoQuant stated.
Meanwhile, whale outflows—large-scale withdrawals by major holders—have plummeted. The 90-day moving average of whale outflows is now $49.7 million, marking its lowest level since October 2021 and representing a decline of 98.6% from the February 2025 peak of $3.5 billion, which followed XRP’s all-time high of $3.40.
CryptoQuant noted shrinking interest from large investors, suggesting whales may be waiting for more attractive price levels before accumulating additional XRP. The analytics firm indicated that without whale participation, buying volume could remain subdued despite the rise in exchange deposits. However, XRP demonstrated notable resilience during the last crypto market downturn in 2026.
Mini dictionary: CryptoQuant is an onchain analytics platform that provides blockchain data, metrics, and insights for digital assets, helping traders and analysts monitor market movements.
MetricCurrent (Oct)PeakDate of PeakXRP Exchange Inflows (30-day)6.05 billion–Mar 2026XRP Whale Outflows (90-day avg)$49.7 million$3.5 billionFeb 2025XRP All-Time High Price$1.70 (recent peak)$3.40Feb 2025Profit-taking slows in Bitcoin as rangebound trade continuesBitcoin investors appeared more cautious in October, with price movements confined between $80,000 and $87,000. This limited volatility contributed to a slowdown in realized profits for holders of BTC.
Glassnode, a blockchain analytics provider, reported in its latest Market Pulse bulletin that the realized profit/loss ratio for Bitcoin fell from 0.8 to 0.4 within the last week, marking a 50% decline. This drop points to a cooling of realized profit activity relative to losses, and reflects subdued sentiment among market participants.
According to the analytics platform, profit-taking activity has slowed compared to loss realization, signaling a transition toward a quieter market environment and a reduction in aggressive trading by holders.
Glassnode continues to monitor onchain profit and loss metrics as a way of measuring sentiment and positioning among Bitcoin holders. Such indicators provide insights into market psychology during periods of consolidation or volatility.
Mini dictionary: Glassnode is a well-known blockchain analytics company that supplies onchain market intelligence and metrics for various cryptocurrencies, assisting investors and traders in assessing market conditions.
XRP has come under renewed pressure in October, dropping from recent highs amid weakening institutional flows and shifting market sentiment. With less than two weeks left in the month, market watchers are now turning their attention to upcoming technical upgrades and anticipated ETF inflows to assess whether XRP can stage a recovery.
ChatGPT gives base case and scenarios for XRPTo gauge short-term prospects, ChatGPT has projected a central price target of $1.48 for XRP by October 31, with a wider trading range between $1.10 and $1.75. As of October 19, XRP changed hands at approximately $1.29. The AI model evaluated three possible outcomes for the rest of the month, assigning probabilities to each based on current trends and forthcoming events.
ChatGPT considers its base case the most likely scenario. It assigns a 50% probability to XRP closing in the $1.40 to $1.55 range, suggesting a potential gain of about 14.7% from current levels. Drivers cited include a scheduled technical upgrade of the XRP Ledger around October 23, Cross River Bank’s RLUSD integration, and prospects for renewed ETF inflows.
According to ChatGPT, these factors may improve sentiment and support a gradual price recovery, though the model does not expect a sharp or sustained rally as a result. Instead, it anticipates a measured rebound as opposed to uninterrupted upward momentum.
ChatGPT noted that the base scenario is likely to involve a gradual recovery driven by technical and institutional developments, rather than an abrupt surge in price.
Bullish and bearish cases examinedChatGPT assigns a 25% probability to a bullish outcome where XRP reaches the $1.60 to $1.70 zone, representing a potential increase of more than 30% from the current price. This scenario would require multiple positive catalysts to align, including consistent ETF inflows, a successful technical upgrade, strong performance across the crypto sector, and XRP breaking key resistance levels.
For the bearish scenario, also set at 25% likelihood, ChatGPT points to ongoing ETF net outflows as a primary concern. U.S. spot XRP ETFs recorded roughly $1.84 million in net outflows during the week ending October 16, which ended a 13-week inflow streak. A deeper market correction in Bitcoin or failure of bullish news to spark real buying could add pressure.
In volatile markets where major announcements or sudden altcoin listings can instantly shift momentum, investors often face the challenge of tracking charts, news, and portfolio data across multiple platforms. Many are now choosing consolidated, privacy-focused apps such as CryptoAppsy, which provide real-time charts, smart price alerts, coin-specific news, and key macro data on a single screen, without the need to create an account.
Key price regions and support levelsChatGPT identifies $1.25 as an important support level for XRP. A breakdown below this threshold could undermine hopes for a near-term recovery. For upside targets, the $1.35 to $1.40 region is viewed as the first recovery barrier; moving above this range would be necessary for any extended rebound.
The $1.50 mark stands out as a psychological milestone in the base scenario, while overcoming the $1.60 to $1.70 area remains critical for a more bullish trend to unfold.
A sustained move above key resistance zones is seen as essential for XRP bulls to regain momentum and push the price toward higher targets.
As new and major institutions continue to join the crypto bandwagon while adding support for major crypto assets, a leading European banking network has just sparked a buzz in the XRP community following a new development today.
According to recent reports, Germany's Sparkassen banking network has announced the launch of crypto trading services to its customers.
XRP trading expands to traditional European banksDue to the development, XRP is now integrated into the traditional European banking system alongside other major crypto assets including Bitcoin, Ethereum, Solana and Polygon.
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Following the launch, which happened on October 19, DekaBank will begin to provide the trading infrastructure needed for customers to access the crypto assets, while Börse Stuttgart's custody arm is responsible for safeguarding the digital assets.
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As such, customers of savings banks under the networking firm will be able to buy and sell cryptocurrencies through an app they already use for conventional banking.
With this, customers and potential users do not need to open a separate account with a dedicated crypto exchange before they can trade the supported cryptos.
Trading XRP, BTC, ETH, SOL and POL on SparkassenWhile the launch has brought the aforementioned crypto assets into the limelight, positioning them for broader adoption especially in the European region, access to the trading services is still limited.
According to reports, the launch does not mean that every Sparkassen customer can immediately trade XRP or the other supported cryptocurrencies.
Rather, the firm revealed that participation is being introduced gradually, with each regional savings bank deciding when to activate the service.
Crypto YouTuber EllioTrades warns that XRP will fall out of the top 10 cryptocurrencies by 2030 if Ripple and the XRP Ledger (XRPL) fail to grow in real-world asset (RWA) tokenization.
In a recent video, he explained that competing blockchains are moving ahead in areas such as digital bonds, stocks and other financial assets. He believes XRP needs more than partnerships with banks to stay competitive. It needs real businesses, investors and transactions using its network.
Why XRP Could Fall Behind
EllioTrades says stablecoins like USDT and USDC have challenged XRP’s role in international payments. Because stablecoins maintain a steady value, they can be more attractive for transferring money.
He also argues that Ripple’s partnerships with banks do not always benefit XRP holders directly. Some institutions use Ripple’s payment technology without making transactions on the XRP Ledger.
His main point is that Ripple’s success does not automatically mean XRP will become more valuable.
XRP Is Falling Behind in Tokenized Assets
Real-world asset tokenization means putting assets such as government bonds, stocks and commodities on a blockchain.
According to figures EllioTrades cited in his video, tokenized real-world assets had exceeded $50 billion across blockchain networks. He argued that networks such as Ethereum, BNB Chain and Solana were gaining ground while XRPL lagged behind.
He also questioned whether some assets counted toward XRPL’s tokenization figures were actually being traded actively. In his view, having assets worth billions of dollars on paper is not enough if few people are buying, selling or using them.
Three Things XRP Needs to Do
EllioTrades believes XRP must make three key changes:
Attract more tokenized assets. XRPL needs assets that people actively buy, sell and hold, not just large reported values.
Support developers. Ripple should invest more in projects and encourage developers to build useful applications on the XRP Ledger.
Bring in major financial institutions. Partnerships with firms such as BlackRock or Franklin Templeton could help attract more businesses and investment, provided their activity also creates value for XRP.
Could XRP Lose Its Top 10 Spot by 2030?
EllioTrades says XRP could lose its place among the world’s largest cryptocurrencies if rival networks capture most of the growth in tokenized financial assets.
However, he is not saying XRP will definitely fail. His warning is that the network needs to show real growth, attract more users and create stronger demand for the XRP token.
The bottom line is that XRP cannot rely only on its reputation for international payments or Ripple banking partnerships. To remain competitive through 2030, it needs more real-world use, active trading and adoption that creates actual demand for XRP.
A newly activated XRP wallet has received more than 82 million tokens in a single transaction, adding to the large transfers recorded on the XRP Ledger.
On-chain data shows that the wallet received 82,314,668 XRP worth more than $106 million. However, the identity of the wallet owner remains unknown, which leaves open the possibility that the funds could belong to a private investor, a large institution, or an exchange.
New XRP Wallet Receives $106 Million
On-chain records show that the XRP wallet r3p…ybc received exactly 82,314,668 XRP at 00:30 on October 20, 2026, worth more than $106 million at the time of reporting. The transfer activated the wallet, which has recorded no other transactions since receiving the funds.
XRP wallet gulps over 83 million tokens at once
Nearly 12 hours after the transfer, the wallet still held all 82.3 million XRP, with no recorded outflows. This means the tokens had not moved from the newly activated address during that period.
However, the available records do not reveal who controls the wallet and whether it belongs to an individual investor or a large institution.
The address that sent the funds, rN1…8uo, also holds a large amount of XRP. Despite transferring 82.3 million tokens to the new wallet, it retains approximately 142.7 million XRP worth $184 million at press time.
The transfer also marked the wallet’s first recorded outgoing payment since May 20, 2026. On that date, rN1…8uo sent 73 million XRP to another existing address, rpx…ZY1.
XRP Wallet Transfer History Reveals a Long-Standing Connection
Interestingly, the transaction history shows that rN1…8uo has consistently received its XRP from rpx…ZY1. This helps establish how the funds reached the newly activated wallet, although it does not reveal who owns the addresses.
Records show that rpx…ZY1 activated rN1…8uo in November 2025, sending it 10 XRP to open the account. Ten days later, the same address transferred 73 million XRP to the newly activated wallet. It followed that transfer with another 59.6 million XRP on Dec. 4, 2025, and then sent 73.9 million XRP on Dec. 12, 2025.
The pattern continued into 2026, with most transfers involving around 73 million XRP each. The latest transaction followed the same pattern of whale movements, as rN1…8uo sent the 82.3 million XRP to r3p…ybc from its existing balance.
These repeated transfers show that large XRP balances have moved between the connected wallets over several months.
Binance Connection
Tracing the transactions has not revealed the identity of the person or institution behind the wallets. However, the trail points toward Binance, as the address rpx…ZY1 was activated by a wallet linked to the exchange.
This connection leaves two possible explanations. An individual XRP whale may be using Binance to manage the funds, or Binance itself may have carried out the transfers. If the exchange controls the wallets, the movement could be part of an internal fund-rebalancing exercise, not a purchase by an outside investor.
Neither explanation has been confirmed. A wallet’s connection to an exchange does not necessarily mean the exchange owns the funds. Similarly, moving XRP between addresses does not automatically indicate buying or selling.
Latest Transfer Follows Earlier Large XRP Movements
The transaction also fits a trend discussed in an earlier report, which highlighted large XRP transfers that moved tokens away from exchanges.
Specifically, on Sept. 11, transactions involving at least 1 million XRP moved tokens worth approximately $165 million. This was the highest intraday total recorded since late February 2026. The latest transfer adds to the record of large XRP movements.
Bill Morgan, a well-known lawyer and commentator on digital assets, has questioned why some individuals continue to actively criticize $XRP online despite asserting that the asset is worthless.
Online debate on XRP criticism intensifiesWriting on X, Morgan highlighted the contradiction he sees in the behavior of XRP detractors. He pointed out that many individuals invest significant time repeatedly calling XRP a scam and attempting to spread negative sentiment, even though they claim not to believe in its value.
He suggested that such ongoing efforts to discredit XRP may indicate a deeper personal motive. Morgan asked, “What does it say about the value they place on their own time if they spend so much of their own time degrading a crypto asset that they believe has no value?”
Morgan proposed two primary explanations. He stated that critics may either be compensated for their activity or simply place low value on their own time. He added that the latter scenario could suggest a lack of critical thinking. He also considered, but dismissed, the possibility that critics are seeking higher engagement, noting that most of these accounts attract very limited attention.
Just think of the mentality of people who state XRP is a scam and has no value but spend hours and hours taking the trouble on the X platform to keep repeating this proposition and spreading FUD against XRP. What does it say about the value they place on their own time if they do this?
Morgan remains a prominent voice within the XRP community. He frequently comments on issues related to digital assets and is known for his critical perspective on industry narratives.
Morgan’s post triggered a wave of responses, with some participants challenging his reasoning. One user argued that some critics may actually hold XRP themselves, but oppose the exaggerated price projections and unproven claims that often surround the asset. The user noted that none of the bold price predictions about XRP have materialized, adding that certain critics may seek to protect less experienced investors.
Some critics hold XRP and post out of concern for new investors misled by hype and inaccurate forecasts.
Another contributor, Gio, supported Morgan’s psychological observations but shifted the discussion toward a fundamental question about Ripple’s strategic direction. Gio pointed out that Ripple, the US-based fintech company behind XRP, is moving further into enterprise-focused stablecoin platforms, notably with RLUSD. He questioned whether XRP can maintain its relevance if financial institutions are able to process transactions using tokenized fiat currencies, rather than XRP itself.
Gio asked, “Legally we won, but functionally, how does Ripple’s massive pivot into corporate stablecoins directly force enterprise demand back onto the native XRP token?”
Mini dictionary: RLUSD is Ripple’s proposed enterprise-grade stablecoin, designed to complement XRP by providing tokenized fiat settlement options for institutions. This stablecoin aims to enhance transaction speed and lower costs but raises questions about XRP’s continued centrality in Ripple’s corporate ecosystem.
AssetFunctionPrimary UsersXRPSettlement token for cross-border paymentsBanks, payment providersRLUSDEnterprise-grade stablecoin for fiat settlementBusinesses, financial institutionsXRP’s long-term role remains a point of debateMorgan invited readers to offer psychiatric perspectives that might explain the behavior of persistent XRP critics. The resulting discussion included arguments over ethical motivations, the impact of hype on investors, and questions about XRP’s underlying utility within the wider Ripple platform. The debate reflects an ongoing divide over the future and function of XRP as Ripple adapts its business model for institutional use.
Crypto analyst Darkfost reported that XRP whale outflows on Binance have fallen to their lowest level in five years based on the 90-day moving average. Withdrawals from exchanges by large XRP holders continue to decline.
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Exchange outflows record assets moving from trading platforms to external addresses. Analysts sometimes examine large withdrawals for potential evidence of accumulation, although withdrawals do not establish who ultimately owns the transferred tokens or whether the transaction represents a purchase. Transfers between internal and external exchange wallets, custody arrangements, and other operational activities can all affect flow data. Therefore, declining outflows mean that large holders have stopped buying XRP and turned to other platforms offering more challenging yet stable returns.
Darkfost interpreted the five-year low as a sign of a significant slowdown in whale activity. He believes that XRP‘s relative resilience during the downturn may be causing potential buyers to wait for prices they consider more attractive. The 90-day moving average reduces the influence of sporadic daily transfers and tracks activity over a longer period. Because the indicator incorporates approximately three months of observations, the decline does not describe only the behavior of the most recent day.
The reported low in outflows should not be confused with a decline in exchange inflows. Deposits and withdrawals move in opposite directions, and neither indicator alone can determine the volume of spot market purchases.
Despite the slowdown in exchange withdrawals, the XRP price chart still shows weak buying momentum. According to CoinGecko market data, at the time of writing, XRP was trading at approximately $1.30, with a market capitalization of nearly $82 billion and daily trading volume of approximately $1.28 billion. The 24-hour trading range was between $1.29 and $1.32, while the seven-day range extended from $1.26 to $1.38.
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Founded in 2015 and headquartered in London, United Kingdom, UE Crypto is a globally leading innovative cloud computing platform. UE Crypto brings together a top-tier team of experts. We are committed to building a secure, efficient, and intelligent digital asset ecosystem while continuously advancing technological innovation and service development. The platform has deployed hundreds of advanced data centers across multiple countries and regions, including the United States, Germany, the United Kingdom, Australia, Canada, Brazil, Iceland, Kazakhstan, and Argentina. This extensive global infrastructure network provides users worldwide with unparalleled stability and reliable, high-performance service support.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
BlackRock, the world’s largest asset manager, has filed a preliminary prospectus with the US Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) aimed at providing Bitcoin exposure with built-in downside protection and capped returns.
Details of the proposed Bitcoin fundNamed the iShares Bitcoin Managed Protection ETF (PBIT), the proposed fund would not hold Bitcoin (BTC) directly but would instead use options linked to the iShares Bitcoin Trust ETF (IBIT), BlackRock’s existing spot Bitcoin ETF.
IBIT has emerged as the world’s largest spot Bitcoin ETF by assets, directly holding Bitcoin and offering investors access through traditional brokerage accounts. According to BlackRock, IBIT managed $65.7 billion in net assets as of Monday.
In addition to IBIT, BlackRock also offers the iShares Ethereum Trust ETF (ETHA), a spot Ether fund with net assets totaling $8 billion. The company has not yet launched spot ETFs in the US for other cryptocurrencies such as Solana (SOL) or XRP.
BlackRock manages global investment portfolios for institutional and individual investors. Its expansion in digital asset ETFs reflects growing demand for regulated crypto investment products in the US market.
Mini dictionary: Spot ETF, an exchange-traded fund that directly holds the underlying asset—such as Bitcoin or Ether—rather than tracking its price with derivatives, giving investors exposure by actually holding the cryptocurrency itself.
Industry reaction and ETF lineup expansionIndustry observers have questioned BlackRock’s reluctance to launch spot ETFs tracking cryptocurrencies beyond Bitcoin and Ether. Nate Geraci, president of the ETF Store, commented on the situation, writing on X: “Still shocked they’re sitting out on spot ETFs for SOL, XRP, HYPE, etc. BlackRock clearly has high conviction in only sticking [with] BTC [and] ETH. For now.”
Geraci noted that BlackRock appears focused exclusively on Bitcoin and Ethereum in the US spot ETF landscape, despite interest in other cryptocurrencies.
BlackRock entered the US spot Bitcoin ETF market in January 2024 with IBIT, followed by the launch of ETHA for Ether in July 2024. The suite of offerings expanded further with the iShares Staked Ethereum Trust ETF (ETHB) in March 2026, providing exposure to Ether and staking rewards. In June, BlackRock introduced the iShares Bitcoin Premium Income ETF (BITA), which allows investors to generate income through options trading strategies.
PBIT structure and risk profileBloomberg ETF analyst James Seyffart described PBIT as BlackRock’s third Bitcoin ETF filing, although similar “buffered” Bitcoin funds are already available from asset managers such as Calamos, First Trust, and Innovator.
The PBIT fund aims to provide limited downside protection while capping potential gains through the use of options strategies. The ETF would employ three overlapping sets of options contracts, typically replacing one set each month. Each options tranche is expected to initially target a maximum loss exposure of about 10% to the underlying Bitcoin-linked asset, before fees and expenses are accounted for.
However, BlackRock cautioned in its prospectus that the fund “does not provide a fixed Tranche Protection Start Value, Floor or Tranche Cap Value,” meaning investors could experience greater losses in certain market conditions.
The design of PBIT seeks to balance risk by using options overlays, but the level of protection and the cap on gains may change depending on market dynamics and underlying asset performance.
Other US-based asset managers, including Calamos, First Trust, and Innovator, already offer ETFs that use options to manage volatility and returns for investors seeking structured Bitcoin exposure.
JPMorgan made its JPM Coin deposit token live on the Ethereum main network on Oct. 19 for institutional clients.
The token previously ran only on Base, the Coinbase-built Layer 2 network, starting in November 2025.
JPMorgan says JPM Coin is not a stablecoin. Each token represents one dollar held in a JPMorgan account.
Retail users cannot access the token, and only bank-vetted institutions can hold or send it.
Kinexys says it has processed more than $4 trillion and plans to bring the token to the Canton Network.
JPMorgan Chase has made its JPM Coin deposit token available on Ethereum. The token went live on the Ethereum main network on Monday, Oct. 19, for the bank’s institutional clients.
Before this launch, JPM Coin ran only on Base. Base is an Ethereum Layer 2 network built by Coinbase Global.
The token became available to institutional clients on Base on Nov. 12, 2025. That followed a proof of concept that started in June 2025.
Emma Landriault, head of Kinexys Labs, told Bloomberg the bank picked Ethereum for its liquidity and its use by institutional clients. Kinexys is the bank’s blockchain unit.
How JPM Coin Works
JPMorgan says the token is not a cryptocurrency or a stablecoin. Each token represents one dollar held in a JPMorgan account.
Holding the token carries the same risk as a regular bank deposit. By contrast, a stablecoin such as USDC is issued by a private company and backed by cash and Treasury bill reserves.
Approved institutions move cash into a blockchain deposit account and convert it into tokens. They can then use the tokens to pay suppliers, settle trades or post collateral.
Clients can convert back to dollars at any time with no lock-up period. Transfers between a regular account and the blockchain account pause every Saturday from 3 to 6 p.m. ET.
Who Can Use It
Ethereum is a public network, so anyone can see transactions. However, only institutions vetted by the bank can hold or send the token.
The launch does not include a retail rollout. The bank also warned that tokens with similar names at other addresses have no link to JPMorgan.
The deposit token now sits on the same network as two JPMorgan tokenized money market funds. My OnChain Net Yield Fund, or MONY, launched on Ethereum in December 2025. The JPMorgan OnChain Liquidity-Token Money Market Fund, or JLTXX, followed in May 2026.
The announcement does not describe a way to use JPM Coin to buy into or redeem either fund. JPMorgan lists programmable treasury through client wallets as a potential use.
Kinexys says it has processed more than $4 trillion since it began operating. That works out to about $7 billion a day.
JPMorgan moves roughly $12 trillion in payments daily, according to Bloomberg. The bank has not said how much of the Kinexys total comes from JPM Coin on public chains.
The GENIUS Act, signed in 2025, bars stablecoin issuers from paying interest. Banking groups have cited a Treasury estimate that up to $6.6 trillion in deposits could move to stablecoins.
In his April shareholder letter, CEO Jamie Dimon wrote that blockchain-based competitors are emerging. He said the bank needs to roll out its own blockchain technology.
Citi, Bank of America and Wells Fargo are among more than a dozen banks planning a shared network for tokenized deposits, The Wall Street Journal reported.
Ether traded near $2,386 at the time of the announcement, down 2% over 24 hours. Kinexys and Digital Asset have announced plans to bring JPM Coin to the Canton Network next.
Glamsterdam is scheduled to go live on the Hoodi testnet next week. Hoodi will run the same raised gas limit already tested on Sepolia. Ethereum developers have not yet set a mainnet date. ETH is sitting on support formed by its 200-day average and a Fibonacci level. Ethereum’s Glamsterdam upgrade will activate on the Hoodi testnet on October 26 at 17:42:48 UTC, the Ethereum Foundation confirmed in its October 16 Hoodi announcement, and Hoodi’s block gas limit will climb to 200 million at the same epoch. The date lands while ETH trades near $2,381, roughly 15% under its late-September peak and parked on a support band around $2,310 that has caught every dip for a week. Hoodi exists mostly for validator and staking operations, which means mainnet users see no change yet, though a clean fork there is the last public step before developers commit to a mainnet slot.
Hoodi Gets 200M Gas Before Mainnet Does Activation is set for epoch 132,352, slot 4,235,264, twenty days after Glamsterdam went live on Sepolia, whose first public testnet activation already ran the same 200 million gas limit. Every Hoodi operator has to upgrade both execution and consensus clients before the deadline. The Foundation’s release table still showed blanks for some execution clients when the post went live, with go-ethereum, Ethereum’s most widely used execution client, among those still waiting for a confirmed build.
Glamsterdam Rollout
Aug 20, 2026
Platåberget Early testing
Oct 6, 2026
Sepolia Activated
Oct 26, 2026 · 17:42 UTC
Hoodi + 200M gas Scheduled
Date not set
Ethereum mainnet Pending
Source: Ethereum Foundation
Bigger Blocks, Same 12 Seconds A higher gas limit lets each block carry more computation, yet every node still has to execute and verify that work inside one twelve-second slot, and pushing more into that window without other changes raises hardware costs until smaller validators drop out. Glamsterdam tackles the problem from the way blocks are built, the way they are checked and the price of the operations inside them.
EIP-7732 moves proposer-builder separation into the consensus rules. Most validators currently hand block construction to specialised builders through relay software that Ethereum’s protocol does not govern. Under the new model a builder commits to a payload, the proposer signs the block around that commitment and the protocol itself checks whether the payload showed up on time, which buys validators extra time to process heavier blocks. The concentration of block building among a few sophisticated firms survives the change, and developers still list it as a risk to watch.
EIP-7928 adds a block-level access list, a record of every account and storage slot a block’s transactions touch together with the resulting changes. Clients today only find that out by running transactions one after another. A node holding the list can pull state from disk in parallel and rebuild the state root with much less sequential work, so a larger block does not have to become a slower one.
Pricing is handled by EIP-8037 and EIP-8038, which reset the gas charged for creating and reading state such as balances, contract storage and deployed code, and several of those operations get more expensive. In its May 2026 protocol update the Foundation tied the 200 million figure to these three changes working together, calling it a credible post-upgrade floor against roughly 60 million on mainnet today. That gas budget is about 3.3 times larger, although transaction counts will not scale by the same factor, because Glamsterdam also rewrites how intrinsic gas is counted and real blocks mix cheap transfers with heavy DeFi calls.
The Contracts That Hardcoded Gas Foundation researchers replayed historical mainnet transactions under the new schedule for an August 24 repricing report and found that the vast majority behaved exactly as before. The small group that diverged ran from transactions that merely burned a different amount of gas to a handful of contracts that kept failing even with a much higher limit. Contracts that fix gas allowances in their code or assume how much gas is left mid-execution carry the most exposure, and developers can check individual addresses with the repricing impact checker before mainnet. The report flags no direct threat to user funds, yet it is the main reason Hoodi carries more weight than the gas headline suggests.
$2,310 Is Where Two Supports Meet On the daily chart, the pullback from the $2,809 high has carried ETH into the area where the 200-day EMA at $2,314 almost overlaps with the 0.382 Fibonacci retracement of the June to September rally at $2,311. Traders tend to treat that kind of overlap as a serious line, because the 200-day EMA tracks the long-term trend and the 0.382 level marks the depth where corrections inside an uptrend usually attract buyers.
ETH/USDT daily chart by Alexander Stefanov on TradingView Several daily candles over the past week dipped toward $2,320 and left long lower wicks before closing higher, showing bids parked inside the zone. Volume backs that up, since the heaviest selling came with the early October break below $2,600 and the daily bars have since shrunk to some of their lightest readings in two months, with the October 20 session at about 71,000 ETH by midday. When a decline loses volume on its way into major support, it usually means sellers are running out of urgency rather than starting a fresh wave of distribution.
Momentum has yet to confirm a turn, with the 14-day RSI at 35.7, below its signal line at 39.5 and still sloping down, which leaves room for one more push toward the 30 area where ETH bottomed in June. The golden cross from late August holds, with the 50-day EMA about $165 above the 200-day, but the 50-day at $2,479 has started to roll over just under the 0.236 retracement at $2,502, making the $2,480 to $2,500 band the first ceiling any recovery must clear.
ETH Price Map · daily
$2,809
September high
+18.0%
$2,502
EMA 50 + Fib 0.236
+5.1%
$2,381
Current price
NOW
$2,311
EMA 200 + Fib 0.382
-2.9%
$2,157
Fib 0.5
-9.4%
$1,784
Fib 0.786
-25.1%
Distance from the current price
A daily close back above $2,500 would put ETH back into the range it held for most of September and reopen the way toward $2,600 and the $2,809 high. Losing $2,310 on a closing basis would break both supports in one move and expose the 0.5 retracement at $2,157, with the August breakout base near $1,900 underneath and the 0.786 level at $1,784 as the deeper target if selling picks up speed.
The Burn Rate Is the Real Test A smooth fork on Hoodi would hand client teams the evidence they need to propose a mainnet slot on the All Core Developers calls, where the date gets fixed, while a rough one would stretch a schedule that has already slid from an original June target into the fourth quarter. For ETH holders the harder question arrives after mainnet. More capacity tends to lower the fee per transaction, and with it the amount of ETH burned, unless activity grows fast enough to fill the bigger blocks. Much of Ethereum’s usage already lives on layer-2 networks that have no built-in reason to move back to a cheaper base layer, so gas utilization, fee revenue and the burn rate in the weeks after activation will show whether the extra room gets used.
Early December has come up in developer planning discussions as a possible mainnet window, though the Foundation has not confirmed any date and the Hoodi results will weigh on that decision. Planning for Hegotà, the upgrade lined up to follow Glamsterdam, is already running in parallel according to the same May protocol update.
Wall Street’s Deposits Land on Layer 1 In separate news, JPMorgan said on October 19 that it is bringing JPM Coin to the Ethereum mainnet, extending its dollar deposit token beyond Base, where it has been available to institutional clients since November 2025. JPMD is a claim on money held at the bank rather than a reserve-backed stablecoin, so it can carry interest, and only approved institutional wallets can hold or transfer it. The move puts bank cash on the same chain as JPMorgan’s tokenized money market funds, including JLTXX, which went live on Ethereum in May with $100 million committed at launch. The bank has not disclosed how much JPMD it expects to issue on mainnet, and the near-term effect on ETH demand may stay small, since a large institutional settlement consumes the same gas as a modest transfer.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Deutsche Bank is preparing to launch its crypto custody service in Germany within weeks, while planning to expand into the Asian market in 2027.
Deutsche Bank, one of Germany’s largest banks, is expanding its digital asset strategy and preparing to offer cryptocurrency custody services in both Europe and Asia. According to the co-head of the bank’s corporate banking division, the service is planned to launch in Germany within a few weeks and in Asia in 2027.
Deutsche Bank is expected to initially support Bitcoin, Ethereum, USDC, EURC, and the euro-pegged EURAU stablecoin. Institutional clients will not have to manage their own wallets or private key infrastructure to hold and transfer their assets. Wallet technology and key security will be provided by the bank.
The bank doesn’t intend to limit itself to just cryptocurrency custody services. Plans include stablecoin conversions, tokenized deposits, and services to help companies issue digital bonds or other blockchain-based securities.
Deutsche Bank received the necessary authorization from Germany’s financial regulator BaFin on October 12th under the European Union’s MiCA rules. However, the final launch of the product in Germany depends on the completion of regulatory processes. Which countries or financial centers will be prioritized in the Asian expansion has not yet been announced.
The bank had previously worked with Bitpanda and Taurus on crypto custody infrastructure. The new service is seen as part of Deutsche Bank’s goal to grow its corporate banking revenue by approximately 8 percent compound annual between 2025 and 2028.
The announcement doesn’t mean the Asian service is launching today. While the German launch is a short-term goal, the Asian expansion is planned for 2027. Also, the service will initially be geared more towards companies and institutional clients than individual investors.
*This is not investment advice.
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Revolut customers trying to check their crypto and stock investments on Tuesday morning found their portfolio balances missing. Several users told BeInCrypto that their investment screens had gone blank as a major outage hit the financial platform.
For crypto investors, the timing of such failures is critical. Bitcoin and other digital assets trade around the clock. Prices can change sharply while customers struggle to see their holdings or execute trades.
Revolut Investors Report Missing Balances and Trading FailuresRevolut’s official status page confirms that cryptocurrency and stock trading are partially unavailable. In Portugal alone, the company lists 31 affected services.
The problems extend beyond the customers who spoke to BeInCrypto.
In a Portuguese Reddit discussion, one investor reported that their crypto and ETF holdings were visible, but attempting transactions triggered errors.
Another customer in France reported problems with Revolut X, the company’s dedicated cryptocurrency trading platform.
The full scale of the trading disruption remains unclear. Revolut has not confirmed how many investors are unable to execute orders.
We are currently experiencing a service disruption affecting multiple services. We can confirm that all our customers’ money and data are safe. We’ve been working to fix the issue since it was identified this morning and apologise to anyone affected and for any inconvenience…
— Revolut (@Revolut) October 20, 2026 Google Cloud Failure Hits Crypto TradingThe disruption appears linked to a major Google Cloud outage in London, which began at 7:08 a.m. Lisbon time.
Google reported widespread service errors and intermittent network failures in its European infrastructure.
A person familiar with the situation told Reuters that Revolut’s problems were connected to the cloud outage.
There is no evidence of any failure on Bitcoin, Ethereum or other blockchain networks. The incident exposes how investors’ access to crypto still depends on centralized financial platforms and their technology providers.
Meanwhile, Revolut customers have also reported failed card payments, inaccessible bank accounts and disrupted transfers across Europe.
Revolut says customers’ funds and data remain safe. Its engineers are working to restore services, but no recovery time has been confirmed.
How long the outage lasts and how it’s managed could decide whether crypto traders continue to rely on such centralized neobanking platforms for their assets.
Cross-border payments startup Mural has closed a $15 million Series A funding round, led by Tether.
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At 8:15 a.m. Eastern Time today, one Ethereum (ETH) is priced at $2,379.30. That marks a $42.44 fall from yesterday morning and approximately a $1,601 increase compared to this time last year.
Ethereum price% ChangePrice of Ethereum yesterday$2,421.74-1.75%Price of Ethereum 1 month ago$2,626.46-9.41%Price of Ethereum 1 year ago$3,980.40-40.22%Price of Ethereum yesterdayEthereum price$2,421.74% Change-1.75%Price of Ethereum 1 month agoEthereum price$2,626.46% Change-9.41%Price of Ethereum 1 year agoEthereum price$3,980.40% Change-40.22%
What is Ethereum?
Ethereum holds the position of second-largest cryptocurrency by market capitalization, currently valued at around $233 billion. It’s significantly behind Bitcoin’s roughly $1.33 trillion market cap—but considerably ahead of the third-largest option, Tether, at $183 billion.
A key difference between Ethereum and other cryptocurrencies is that it’s not just digital currency. It actually functions as a decentralized computing platform, meaning users can develop and operate applications on it without any company or bank involvement.
In essence, developers can build apps on Ethereum’s blockchain network (as opposed to, say, Amazon or Google servers) to facilitate activities like borrowing, lending, investing, trading, and more. The token ETH acts as the currency you’ll use to perform those functions.
Ethereum price history
Ethereum’s initial coin offering (ICO) went live in 2014 for just 31 cents per share. Since then, its value has surged by more than 60,000%.
Over the past five years (2020-2025), Ethereum has gained a respectable 46%. But that doesn’t show the complete picture. Ethereum has faced serious volatility, climbing to nearly $5,000 at its peak in August 2025. That’s nearly 1.6 million percent in growth from its original ICO—which makes that earlier 60,000% increase look rather modest.
ETH has since experienced gains above 80%, drops beyond 60%, and basically every dramatic fluctuation in between. Early 2026 saw a sharp downturn in Ethereum’s value for multiple reasons, from concerns about recession to Ethereum co-founder Vitalik Buterin selling many millions of dollars worth of ETH.
The main point is that Ethereum can produce massive gains and massive losses—roughly on par with what you’d expect from other major cryptocurrencies.
Ethereum vs. Bitcoin
Following Bitcoin, Ethereum holds a distant second place in the rankings for largest cryptocurrency.
But again, Ethereum wasn’t initially designed to serve primarily as a currency; its main purpose was to create a decentralized computing platform. There are many practical uses for Ethereum—and its developer community is enormous. Investors appreciate this because it offers growth potential beyond simply being an “alternative currency.”
Here’s a straightforward way to grasp the difference between these two currencies:
Bitcoin is often compared to digital gold—it’s mainly used as a store of value and a form of currency.
Ethereum, on the other hand, is more like digital oil—it fuels the decentralized apps and smart contracts that run on its network.
What is Ethereum staking?
Staking is another element that separates Ethereum from Bitcoin.
Until 2022, Ethereum’s network was protected by thousands of computers competing to solve random puzzles (called “proof of work”). When your computer cracked a puzzle, you’d receive some ETH as a reward. It sounds peculiar (and it was), but it was successful in maintaining an honest account ledger.
Because this method consumed lots of electricity and didn’t really make sense anyway, Ethereum decided to eliminate it in favor of an activity called “staking.” Staking is when you lock up your ETH as a security deposit to help confirm transactions. When you do this, you’ll earn a reward similar to the return from proof of work. You’re basically earning interest on your stake.
What affects Ethereum’s price?
Several factors can influence Ethereum’s price, including:
Investor speculation: Like most cryptocurrencies, Ethereum’s short-term price often moves based on trader sentiment and hype. In the near term, speculative trading tends to have more impact than fundamentals.
Network activity and DeFi adoption: When more people use the Ethereum network, demand for ETH typically goes up. The decentralized finance (DeFi) boom of 2020–2021 showed just how much network usage can drive prices higher.
Overall economic health: While crypto doesn’t react to interest rates quite like stocks do, the state of the broader economy still matters. When investors feel confident and have extra money, they’re more likely to allocate some toward assets like Ethereum.
Regulation: Since the crypto space is still evolving, changes in regulation can significantly sway investor confidence. Major policy announcements can either boost optimism or create uncertainty.
Competition: Ethereum no longer dominates the smart contract space on its own. Other blockchains—like Solana and Avalanche—offer potentially faster or cheaper alternatives. How Ethereum continues to innovate and adapt will shape its long-term value.
How to buy and invest in Ethereum
There are a number of ways to invest in Ethereum, each with its own degree of risk. Here are some examples.
Buy Ethereum on a crypto exchange
Directly buying ETH is the most involved investment strategy. Open an account with a cryptocurrency exchange and connect your bank account to purchase and store the ETH in a digital wallet.
Invest in Ethereum ETFs
If managing crypto yourself doesn’t sound appealing, including dealing with wallets and private keys, an Ethereum ETF might suit you better. These funds hold the crypto for you while their shares trade on stock exchanges like a typical stock.
Buy Ethereum-related stocks
Putting money into publicly traded companies with strong connections to Ethereum is a method to gain ETH exposure without holding it directly. This could include blockchain technology firms, companies with significant amounts of ETH on their balance sheets, etc. This allows you to benefit from its performance indirectly.
Open a crypto IRA that holds Ethereum
A crypto IRA enables you to hold Ethereum in a tax-advantaged retirement account. It operates like a traditional or Roth IRA—with the same contribution limits and tax benefits.
Cryptocurrency prices today
Ethereum is one of the most ubiquitous cryptocurrencies, but it’s far from the only option. Consider the following options when deciding where to place your money.
CryptocurrencyPrice per coin as of 8:15 a.m. on Oct. 20, 2026Bitcoin$81,257.31Ethereum$2,379.30Tether (USDT)$0.99XRP$1.29BitcoinPrice per coin as of 8:15 a.m. on Oct. 20, 2026$81,257.31EthereumPrice per coin as of 8:15 a.m. on Oct. 20, 2026$2,379.30Tether (USDT)Price per coin as of 8:15 a.m. on Oct. 20, 2026$0.99XRPPrice per coin as of 8:15 a.m. on Oct. 20, 2026$1.29
Bitcoin: As the first cryptocurrency ever created, Bitcoin remains the most recognized and widely held digital asset. It’s designed to function both as a store of value and a peer-to-peer payment system.
Tether: Tether is a type of stablecoin, which means its price is tied to another asset, namely, the U.S. dollar. That peg helps keep its value steady, making it far less volatile than Ethereum, though it also offers less potential for major price growth.
XRP: XRP was built for fast, low-cost international money transfers. It’s designed to move funds between countries in seconds while keeping transaction fees minimal.
Is it a good time to invest in Ethereum?
Compared to long-established blue-chip names like Johnson & Johnson and IBM, Ethereum is still in its early chapters. There’s no way to know for sure how ETH will perform over the long run, but its track record so far has been remarkable. More importantly, its role extends far beyond being a tradable asset—it’s the backbone of a fast-growing ecosystem of financial tools and decentralized applications.
That said, Ethereum’s history includes some steep pullbacks, so expect plenty of volatility along the way. It’s not ideal for investors who lose sleep over market swings. Keep tabs on competing blockchain projects, and resist the urge to go all-in. A modest, strategic allocation to ETH within a diversified portfolio is the wiser move.
Frequently asked questions
How much will Ethereum be worth in 2030?
Cryptocurrency experts are bullish on Ethereum’s long-term trajectory. Standard Chartered has predicted ETH could even eclipse Bitcoin by then, reaching $40,000 by the next decade. More conservative estimates place it closer to $10,000. Either way, that’s a meteoric rise from its early 2026 valuation.
What is Ethereum’s all-time high price?
As of this writing, Ethereum reached its highest price ever in August 2025, hitting nearly $5,000.
Can you buy a fraction of Ethereum?
Yes. Most cryptocurrency exchanges allow for fractional investing, giving you the ability to buy portions of a single crypto coin—including ETH.
How do I start investing in Ethereum as a beginner?
If you want to invest directly in Ethereum by owning the currency, you’ll typically open an account with a cryptocurrency exchange. Once the account is created, you can transfer your money from your bank account to your crypto account and begin making purchases. Alternatively, you can indirectly invest in Ethereum via an ETF or a company that’s closely tied to Ethereum’s success.
What is Ethereum staking?
Staking involves locking up your ETH to help validate transactions on Ethereum’s decentralized network. The upside to doing this is that you’ll receive a return similar to interest with a high-yield savings account.
Is Ethereum better than Bitcoin?
Neither Ethereum or Bitcoin is objectively “better.” They do different things. Bitcoin is primarily a store of value, while Ethereum is both a platform that powers a large ecosystem of applications and a cryptocurrency. Bitcoin tends to be less volatile and more established as a payment method, while Ethereum gives you more functionality, and likely more potential for growth.
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.
The dormant wallets of one of this year's largest crypto heists are moving again. Blockchain trackers Onchain Lens and Lookonchain have recorded a mass withdrawal of Ethereum stolen this spring from the decentralized platform Drift Protocol, based on Arkham data.
After two months of complete silence, the attackers activated the addresses under their control and began methodically transferring assets to the Tornado Cash mixer. "Dirty" ether is hitting the market, withdrawn in portions to avoid sharp swings in the exchange rate and to avoid drawing excessive attention to the final dumping points.
Arkham intelligence dashboard tracking the Drift Protocol exploiter's remaining $195.25 million balance, primarily held in Ethereum, Source: ArkhamOver the past day, an address controlled by the hackers, labeled by analysts as Drift Exploiter 5, transferred 13,400 ETH to the mixer's contracts, equivalent to approximately $32 million. A number of analytics platforms, including MistTrack, estimate the total daily activity across related wallets even higher, at up to 25,700 ETH ($61.5 million).
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The attackers are using the classic tactic of controlled obfuscation, sending funds in tranches of exactly 100 ETH. This breaks the direct link between sender and recipient in the public ledger, making further automatic tracking impossible.
The current transactions are the second major laundering attempt: in July, the hackers withdrew about $44 million through the mixer in a similar manner. Meanwhile, most of the loot remains untouched, with between 82,000 and 94,000 ETH, worth up to $224 million, accumulated in the attackers' balances.
Six months for trust, 12 minutes for the heist: the hack that made it into the textbooks The assets now dissolving into the shadow sector of DeFi were stolen on April 1, 2026, when the Solana-based exchange Drift Protocol was drained of $285 million in just 12 minutes. This incident has made it into cybersecurity textbooks because of its unprecedented level of preparation.
According to TRM Labs and Chainalysis, the attack was carried out by the North Korean state-sponsored group UNC4736, also known as Citrine Sleet. The scheme unfolded over six months: the hackers posed as a legitimate venture fund, personally communicated with developers at international conferences, and deposited $1 million of their own funds into the exchange's pools to create a flawless alibi.
Later, through hidden vulnerabilities in Cursor and VSCode, they compromised the devices of the platform's Security Council members and intercepted admin keys. The final touch was the release of a fake CarbonVote token, which the attackers used as fictitious collateral to withdraw real reserves.
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For the affected Drift investors, the appearance of Ethereum in mixers means a definitive loss of any chance of getting their funds back. In August, law enforcement managed to intercept and freeze only about $9.2 million, but the integration of the bulk of the capital into Tornado Cash makes any further seizure legally and technically impossible.
The exchange itself is trying to save its reputation: a compensation program using DFX tokens was launched on October 1. However, at this stage, the buyback fund, formed with Tether's support, covers only about 1% of users' net losses.
The team expects to replenish it with the platform's future revenues while the stolen millions are gradually distributed among new owners on the open market.
Cross-border payments startup Mural has closed a $15 million Series A funding round, led by Tether.
Cross-border payments startup Mural, founded in 2022 by former Palantir engineers Sinclair Toffa and Chris Fernandes, has announced the completion of a $15 million Series A funding round led by Tether, with participation from North Island Ventures. Following this financing, Mural’s total funding stands at $28 million, while its specific valuation remains undisclosed.
Mural provides enterprises with a unified payment management platform that supports managing U.S. dollars, local currencies, and stablecoins in a single account, helping payroll providers, software companies, and fintech firms integrate banks, payment service providers, and cross-border settlement channels. The company plans to use the proceeds from this round to further develop its platform.
Tether CEO Paolo Ardoino stated that the investment also targets the financial service needs of AI agents. As AI agents gradually participate in financial activities, they require payment systems that operate 24/7 and cover global markets.
According to an Alvarez & Marsal report, stablecoin payments totaled approximately $400 billion in the first eight months of 2026. Chainalysis data shows that between July 2025 and June 2026, stablecoin cross-border fund flows reached $220 billion, a nearly 78% year-on-year increase.
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A wallet belonging to #CliftonCollins deposited 500 $BTC ($41.52M) into #CoinbasePrime after more than 10 years of inactivity.
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Dormant wallets tied to one of 2026’s largest crypto hacks have once again become active. Blockchain analytics firms Onchain Lens and Lookonchain have detected large-scale Ethereum withdrawals originating from wallets associated with the Drift Protocol exploit, according to data from Arkham Intelligence.
Renewed laundering activity through Tornado CashAfter a two-month pause, attackers resumed operations, transferring substantial volumes of stolen ETH to Tornado Cash, a privacy-focused mixing service. Blockchain data shows the movement of funds in deliberate tranches, a strategy aimed at minimizing price disruptions and obscuring final destinations.
An address flagged by analysts as “Drift Exploiter 5” sent 13,400 ETH—valued at around $32 million—to Tornado Cash within a single day. Independent analytics providers, including MistTrack, estimate that the sum of ETH moved across all connected wallets during the same period reached as high as 25,700 ETH, or about $61.5 million.
The attackers are known to divide funds into batches of 100 ETH before processing them through Tornado Cash. This method severs transaction trails and complicates efforts by investigators to track the stolen assets on public ledgers.
This is the group’s second large-scale laundering effort. In July, they moved approximately $44 million via Tornado Cash using a similar approach. Despite these transactions, the majority of the stolen funds remain untouched. According to current blockchain analyses, between 82,000 and 94,000 ETH—worth up to $224 million—are still held in addresses linked to the exploiters.
Mini dictionary: Tornado Cash, a decentralized cryptocurrency mixer, is designed to improve transaction privacy on Ethereum by pooling user deposits and allowing withdrawals from a different address, breaking the on-chain link between sender and recipient. It has been widely used for both legitimate privacy purposes and for laundering stolen crypto assets.
PeriodETH LaunderedUSD EquivalentJuly 2026~22,000 ETH$44 millionOctober 2026Up to 25,700 ETH$61.5 millionRemaining82,000 – 94,000 ETHUp to $224 millionDrift Protocol hack: A landmark DeFi breachThe Ethereum being laundered today stems from the April 1, 2026 attack on Drift Protocol, a decentralized derivatives platform built on Solana. In just 12 minutes, the protocol suffered losses of $285 million, setting a new precedent in DeFi security incidents.
According to post-mortem analyses, the hackers exploited hidden vulnerabilities in popular software tools, Cursor and VSCode, to infiltrate devices belonging to members of Drift’s Security Council. By acquiring privileged admin keys, the attackers gained control over core platform functions. The breach culminated in the deployment of a counterfeit CarbonVote token, which served as fake collateral, enabling the extraction of real liquidity from the protocol.
Drift Protocol’s security review highlights that the exploit showcased a “rare level of planning and technical sophistication,” combining multiple attack vectors and several layers of deception.
For Drift’s investors, seeing the stolen Ethereum reappear in mixers effectively signals the loss of any realistic chance of recovery. In August, authorities managed to freeze only $9.2 million, with the majority of assets now circulating in the open market under different identities.
Recovery efforts and investor compensationDrift Protocol has initiated a compensation plan for affected users, funded through its native DFX tokens. Tether provided initial support for the buyback fund, but current coverage stands at only about 1 percent of total user losses.
The development team has pledged to channel future platform revenues into replenishing the compensation fund, aiming to gradually close the recovery gap as stolen funds seep back into market circulation.
Platform representatives emphasize their ongoing commitment: “We are working to rebuild user trust and restore losses, but the scale of the attack presents complex challenges.”
Ethereum risks slipping toward $2,300 as significant capital continues to exit US spot ETH exchange-traded funds ahead of the Federal Reserve’s upcoming policy announcement. Even as Bitcoin ETFs see renewed investor demand, Ethereum funds experienced another week of net withdrawals, highlighting a notable divergence in institutional sentiment toward the two major cryptocurrencies.
Ethereum ETF outflows accelerate, Bitcoin attracts inflowsBased on recent figures from Farside Investors, Ethereum funds recorded $103.3 million in net outflows on October 19, led by $95.4 million withdrawn from BlackRock’s ETHA product. This marks the fourth consecutive session of negative flows for Ethereum ETFs, with cumulative redemptions totaling roughly $362.8 million from October 14 to 19.
Over the prior week, ETH funds also saw $320.1 million in outflows between October 12 and 16. Additional withdrawals from Fidelity’s FETH and Grayscale’s ETHE, at $6 million and $1.9 million respectively, contributed to the total losses.
While ETH funds saw mounting redemptions, Bitcoin ETFs benefited from robust inflows during the same period, collecting $526.7 million on October 19 alone. This resulted in a striking divergence of over $630 million between the two asset classes, as institutional investors continued to favor Bitcoin amid shifting market conditions.
The latest selloff previously pushed Ethereum below the key $2,500 level. Rising US bond yields and widespread liquidations have also weighed on crypto valuations, constraining ETH’s recent price recovery.
Ethereum ETFs have registered back-to-back outflows, whereas Bitcoin products have attracted renewed inflows, underlining a clear shift in institutional preference.
Bitmine accumulates more ETH, approaching 5% supply markDespite the negative trend in Ethereum ETFs, Bitmine Immersion Technologies has intensified its accumulation. In an update filed with the SEC on October 19, the company confirmed acquiring an additional 12,535 ETH, taking its total holdings to 6,041,481 tokens. Bitmine now controls about 4.9% of Ethereum’s circulating supply, with most of its tokens already staked.
However, the value of Bitmine’s assets dropped from $16.2 billion to $15.1 billion in a single week as overall market prices declined, underscoring how falling valuations can offset the impact of ongoing purchases. The company has signaled that its 5% supply target is near, which could affect the pace of future accumulation, though it has not specified when buying might pause.
Bitmine’s rapid accumulation has made it the largest publicly traded ETH treasury holder, but its progress toward a 5% supply share adds uncertainty about whether this buying trend will continue.
Technical outlook and trader strategies amid Fed uncertaintyFor traders monitoring ETH’s short-term direction, the $2,350–$2,370 range remains a critical technical zone. A solid move below this level could open the door to further downside, potentially bringing $2,300 into focus if ETF outflows persist and financial conditions tighten as the Federal Reserve prepares for its October 28 decision.
If Ethereum can recover and close above $2,500, analysts identify $2,600 as a likely next resistance, with $2,700 possible if positive momentum returns. However, these are conditional scenarios, not guaranteed targets, given the ongoing macroeconomic pressures.
Volatility in the broader market continues to be shaped by central bank policies, persistent inflation risk, and high Treasury yields, which complicate efforts by ETH to mount a sustainable recovery.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, switching between apps for charts, news, and portfolio management leaves traders at a disadvantage. As a result, more investors are consolidating their tools. Smart traders now turn to privacy-first solutions like CryptoAppsy to get live charts, tailored price alerts, news for specific coins, and crucial macro data combined on one screen—without even needing an account.
Charles Hoskinson personally develops a new programming language for Cardano with Lucas Rosa, one of the creators of Aiken. The project aims to combine transaction intents, proof-carrying data, and Groth16 proofs. For this new crypto building block, no name, public code, or launch schedule has yet been announced.
In brief
Hoskinson works with Lucas Rosa on a new language for Cardano.
The project will combine transaction intents, proof-carrying data, and Groth16.
No name or release date has been announced yet.
Hoskinson personally takes the keyboard on Cardano
Charles Hoskinson does not just oversee the project. He states that he is directly involved in the development of the language. The announcement comes as Cardano is already accelerating its technical work. A few days earlier, Hoskinson explained that the Leios upgrade was to complete much of the network’s architecture, including higher throughput and new scaling capabilities.
This time, the work concerns more the crypto applications built on top of Cardano. Hoskinson works with Lucas Rosa, co-creator of Aiken, one of the main languages used to develop validators on the network. He describes their project as the first of its kind to bring together intents, proof-carrying data, and Groth16 proofs.
The language, however, still has no public name. No code repository has been presented either. Hoskinson has not indicated a testnet, release date, or first application using this technology. The project remains at an early stage.
Crypto transactions described by their result
The concept of “intent” changes the way to request an operation from a blockchain application. Today, a transaction may require several precise steps. With a system based on intents, the user mainly indicates the result they want to obtain.
A trader could, for example, request: exchange one token for another only if the final price respects a given limit. They would not necessarily have to define all the intermediate steps themselves.
Proof-carrying data adds another layer. Information can travel with a cryptographic proof certifying that a calculation or series of rules was indeed respected. The application receiving the result then verifies the proof instead of reproducing the entire calculation.
Groth16 is intended to serve this verification. This cryptographic proof system produces compact and fast-to-check proofs. Cardano is already strengthening its cryptographic toolbox. In May, the network had tested five new Plutus primitives, notably to improve performance and possibilities offered to developers.
The new language could go further by directly integrating several of these logics into the way applications are built. For now, Hoskinson has not explained how this technology will integrate with Cardano’s existing architecture.
Cardano already has multiple languages
The new project does not arrive on empty ground. Cardano has been using Plutus for several years, its historic environment for smart contracts. Aiken is a more recent alternative, with syntax and tools designed to simplify developers’ work.
Contracts written in several Cardano languages usually end up compiled to UPLC, the format executed by nodes during validation. Hoskinson has not yet indicated if his new language will follow exactly the same path.
He also has not explained whether he aims to replace Aiken or Plutus. Nothing in his announcement allows us to say so at this time. The ecosystem also has Compact, used on Midnight. This privacy-focused blockchain already occupies an important place in Hoskinson’s strategy, notably thanks to zero-knowledge proofs and applications handling private data.
The new language therefore shares some ideas with technologies already present in Cardano’s crypto ecosystem, while adding a strong orientation towards intents and proofs attached to data. Hoskinson promises a “first of its kind” approach. Now we wait to see the code.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
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.
Cardano founder Charles Hoskinson has rejected calls for him to compensate victims of the SecondFi hack.
The Cardano founder made this known after an X user suggested that he could allow affected SecondFi users to reclaim their lost airdrops if RealFi’s sUSDrf stablecoin reaches $1 million in Strike Finance’s liquidity vault.
The proposal presented the move as an opportunity to help affected users recover their losses and rebuild trust in Cardano’s decentralized finance (DeFi) ecosystem.
However, Hoskinson distanced himself from the suggestion, dismissing any obligation to reimburse victims.
“I have nothing to do with SecondFi. It’s not my responsibility to bail you guys out,” Hoskinson stated.
SecondFi Hack Drained 16.1 Million ADA The dispute follows a major security breach at SecondFi in June, when attackers drained 16.1 million ADA, worth $2.6 million at the time. Investigations linked the attack to North Korea’s Lazarus Group.
In response, SecondFi took emergency measures to prevent further losses. The platform rescued and transferred 129 million ADA to an independent third-party custodian to protect the funds from additional attacks.
Although Hoskinson previously expressed sympathy for affected users, he also described the incident as a fundamental win for ADA holders. He argued that the breach could accelerate security improvements across the ecosystem and encourage wallet providers to adopt stronger safeguards.
SecondFi Begins Recovery Process for Affected Users Meanwhile, SecondFi launched an asset recovery initiative earlier this month to help affected users reclaim eligible assets. However, the program operates under specific conditions and does not guarantee full reimbursement for every loss.
In a recent update, the team disclosed that users had transferred more than 100 million ADA and 22 million NIGHT tokens to designated addresses through recovery requests since the recovery tool launched on October 7.
Furthermore, SecondFi plans to introduce fully automated processing through recovery smart contracts to speed up the handling of outstanding eligible claims.
The team clarified that recovery amounts and eligibility depend on recorded incident data, relevant snapshots, and the program’s terms. As a result, the initiative does not cover every asset or loss associated with affected wallets.
NIGHT airdrop distributions remain tied to users’ original wallets, while the recovery of external DeFi positions depends on the policies of the individual protocols involved.
Despite Hoskinson’s refusal to accept responsibility for compensating victims, SecondFi’s recovery initiative remains underway, offering eligible users a path to reclaim certain assets lost in the attack.
Elon Musk’s artificial intelligence chatbot, Grok, has praised Cardano founder Charles Hoskinson’s Quinelings project, describing his ideas as being a few light-years ahead.
Grok made the remark while agreeing with Cardano proponent Jason Appleton, who suggested that Hoskinson’s latest innovation was so unusual that its creator seemed to be “from another planet.”
In response, the AI chatbot endorsed the sentiment and highlighted Quinelings’ ability to transform computer code into self-replicating digital lifeforms that users can inspect and evolve.
“Agreed […] Charles keeps pushing [tech] ideas that feel a few light-years ahead,” Grok stated.
Cardano Founder Introduces Quinelings Hoskinson introduced Quinelings through a cinematic demonstration that showed typed programs transforming into animated mathematical creatures inside a simulated environment he described as an “electronic ocean.”
These digital creatures exhibit behaviors associated with living organisms, including swimming, feeding, growing, reproducing, and dying. However, they perform these actions by executing computer instructions rather than through biological processes.
Quinelings builds on the concept of quines—computer programs capable of producing their own source code. Through the Quinelings software development kit (SDK), each creature’s body corresponds to its underlying program, allowing users to examine how its code determines its behavior.
This direct connection between code and visual behavior helps explain Grok’s praise. Instead of presenting programs solely as text, Quinelings allows users to observe their operations through digital organisms that evolve within a simulated environment.
Potential Applications of Quinelings Beyond its visual demonstration, Quinelings presents potential applications in artificial intelligence, programming, and computational experimentation.
For instance, the concept allows AI agents to represent tasks as inspectable and shareable digital organisms. Rather than exchanging only conventional code or written instructions, agents could represent workflows as creatures whose structures and behaviors help users examine their underlying logic.
Potential applications include debugging AI workflows, combining programs to develop new solutions, and creating portable computations that others can reproduce. Furthermore, the framework could make programming concepts, particularly quines and self-replicating code, easier to understand through visual demonstrations.
Meanwhile, Hoskinson has made the project’s code available on GitHub, giving developers an opportunity to examine its implementation and explore its capabilities.
Hoskinson’s Programming Ambitions Extend Beyond Quinelings Quinelings also emerges as Hoskinson continues to explore new programming tools and computational approaches for Cardano.
Earlier this week, he revealed that he was developing a new programming language for the blockchain ecosystem. According to him, the language would support intents and proof-carrying data using Groth16 proofs.
Although the available information does not establish whether Quinelings and the proposed Cardano programming language are part of the same initiative, both reflect Hoskinson’s interest in exploring new ways to structure, execute, and verify computation.
Widely followed crypto analyst Tony has predicted that Cardano could decline toward $0.19 after failing to break above a key resistance level.
In his latest update, Tony warned that Cardano could be gearing up for a move toward $0.19 following ADA’s rejection above the $0.23 resistance zone. His chart suggests that the token has struggled to sustain its recovery, raising the possibility of another decline.
At the time of the projection, ADA had fallen below $0.22 as the broader cryptocurrency market faced renewed selling pressure.
ADA Chart Highlights Potential Retest of $0.19 Support
The accompanying daily ADA/USDT chart on Bybit shows that Cardano rallied from around $0.14 in late June to $0.28 in early October. However, the recovery lost momentum after ADA encountered resistance near the $0.28 region.
The token subsequently reversed lower, breaking below $0.23 and extending its decline toward $0.2174 in the hours leading up to press time. Consequently, the $0.23 zone has become a key resistance level that ADA must reclaim to strengthen its recovery prospects.
Against this backdrop, Tony’s projection points to a potential decline toward horizontal support around $0.19 before another recovery attempt. The white arrows on his chart illustrate a possible move below this support area, followed by a rebound toward $0.22.
Nevertheless, the chart outlines a potential scenario rather than a confirmed price movement. If selling pressure pushes ADA decisively below $0.19, the token could face further downside. Conversely, a rebound would depend on renewed buying pressure and the market’s ability to sustain a recovery.
Tony Cardano Chart
Cardano Leveraged Traders Suffer $480K in Liquidation
Meanwhile, Tony shared his outlook as Cardano faced selling pressure amid a broader cryptocurrency market downturn. The weakness has also affected leveraged traders, with more than $160 million in leveraged positions liquidated across the market over the past 24 hours.
Cardano accounted for $480,000 in liquidations. Long positions made up roughly $423,060, while short positions accounted for about $57,350. This breakdown indicates that bullish traders absorbed most of ADA’s liquidation losses during this period.
At the time of the report, Cardano ranked as the 15th-largest cryptocurrency, with a market cap of $7.95 billion.
Cardano Liquidation
With ADA trading below $0.22 and facing resistance around $0.23, traders will be watching whether the token continues its decline toward the $0.19 support zone highlighted in Tony’s analysis.
Tether CEO Paolo Ardoino pushed back against a U.S. Senate report on October 19, claiming the company’s proactive wallet freeze program has driven a 94% drop in Iran-linked stablecoin transaction volumes since 2023.
What the 94% Drop Means for USDT Holders Third-party data backs Ardoino’s directional claim. According to TRM Labs, USDT’s share of on-chain volume in Iran-attributed wallets fell from 67% in 2025 to just 14% by August 2026.
Ardoino posted the figures on X, saying Tether froze relevant addresses an average of four weeks before official designations by the U.S. Treasury’s OFAC.
He added that in 99% of cases, Tether acted before Chainalysis even labeled the addresses.
The statement directly responds to a September 28 Democratic staff report from the Senate Permanent Subcommittee on Investigations.
That report, which found USDT used in sanctioned Iran wallets, concluded that 84% of 846 flagged Iran-linked wallets transacted almost exclusively in USDT.
It described the stablecoin as a “significant financial lifeline” for Iran’s shadow banking network.
This is not the first time Tether has moved against Iran-linked addresses. The firm previously froze Iranian exchange wallets tied to Wallex and other sanctioned platforms.
In 2026 alone, it froze roughly $550 million in Iran-linked USDT, including $344 million in April and $130 million in July.
Those moves align with a broader U.S. pressure campaign, Washington launched Operation Economic Outcast in August 2026 to sever Iran’s financial lifelines.
USDT currently commands a $183 billion market cap, holding over 60% of the entire stablecoin market.
Persistent Senate scrutiny had placed headline risk on that dominance, Ardoino’s data points to operational agility that could lower the probability of severe enforcement action.
The timing also intersects with the GENIUS Act stablecoin framework debate.
Notably, Bo Hines’ firm received $6.3M from Tether while he helped shape stablecoin legislation, a conflict-of-interest story keeping regulatory attention elevated around the issuer.
Senate Scrutiny Continues Amid Broader Crypto Seizure Push Senator Richard Blumenthal, who led the subcommittee probe, has not responded publicly to Ardoino’s 94% claim.
Meanwhile, the broader sanctions campaign moves forward. Treasury Secretary Scott Bessent indicated Washington is targeting roughly $1 billion in Iran-linked crypto assets for seizure as part of Operation Economic Outcast.
Those assets have not been officially confirmed as frozen.
The deeper backdrop is well-documented. Iran’s Central Bank accumulated $507 million in USDT to prop up the rial, making Tether’s compliance posture central to any discussion of USDT’s role in sanctioned economies.
Ardoino’s latest figures, if independently verified, suggest the stablecoin’s exposure to that risk has narrowed sharply.
TLDR: Tether CEO Paolo Ardoino claims wallet freezes helped reduce Iran-linked stablecoin volume by 94%. Ardoino says Tether froze addresses four weeks before official US and Israeli sanctions designations. Tether claims it acted before Chainalysis flagged the relevant addresses in 99% of cases. A Senate investigation found 84% of 846 Iran-linked wallets relied almost exclusively on USDT. Tether CEO Paolo Ardoino says the company’s wallet freezes helped reduce Iran-linked stablecoin transaction volume by 94%. His response challenges a US Senate investigation that accused Tether of enabling Iran’s sanctions evasion through its dollar-pegged stablecoin, USDT.
Ardoino said Tether froze relevant addresses an average of four weeks before official sanctions designations by the US Office of Foreign Assets Control (OFAC) and Israel’s National Bureau for Counter Terror Financing (NBCTF). He also claimed Tether acted before Chainalysis flagged the addresses in 99% of cases.
The remarks directly challenge findings from Senator Richard Blumenthal, the Democratic ranking member of the Senate Permanent Subcommittee on Investigations (PSI). The investigation examined 846 crypto wallets sanctioned or targeted for seizure over links to Iran and regional proxy groups.
According to Blumenthal’s report, 84% of those wallets transacted exclusively or almost exclusively in USDT. The senator argued that Tether’s past enforcement failures allowed Iran’s shadow banking network to use cryptocurrency for international payments.
Ardoino defended Tether’s enforcement record, pointing to its law enforcement partnerships and earlier interventions. The competing accounts raise questions about how effectively stablecoin issuers can prevent sanctioned entities from moving funds.
Senator Blumenthal's "analysis" of Tether's sanctions report misses that, since 2023, Tether froze on average 4 weeks prior to OFAC & NBCTF official sanction designation and for 99% of the times Tether froze the reported addresses before Chainalysis labelled them.
Tether…
— Paolo Ardoino 🤖 (@paoloardoino) October 19, 2026
Tether’s Iran-Linked USDT Response Challenges Senate Findings Ardoino’s central argument is that Tether acted before authorities formally designated the wallets. His statement suggests the company did not simply wait for official sanctions lists before restricting suspected illicit activity.
He also attributed the reported 94% decline in Iran-linked stablecoin volume to Tether’s actions. However, the supplied information does not establish the measurement period, baseline transaction volume, or methodology behind that figure.
The distinction matters because wallet freezes and sanctions designations serve different purposes. A freeze restricts access to USDT held at a targeted address, while a formal designation comes from the relevant authority.
Tether’s claim that it acted before Chainalysis flagged addresses in 99% of cases adds another measure of its response speed. Still, the statement alone does not independently verify the underlying transaction data or establish how much of the decline resulted from freezes.
Why Tether’s Sanctions Compliance Matters for USDT Blumenthal’s investigation presents a different picture of USDT’s role in Iran-linked financial activity. It alleges that Tether failed to freeze illicit wallets consistently before 2024 and did not proactively block other clearly illicit addresses.
The report also links USDT transactions to efforts to move funds into and out of Iran. Investigators identified activity involving the Central Bank of Iran and cryptocurrency-based networks connected to regional proxy organizations.
Blumenthal has asked the US Treasury Department and Justice Department to investigate Tether’s anti-money laundering and sanctions compliance practices. He argued that cryptocurrency issuers require stronger oversight to prevent potential sanctions violations.
For USDT users, the dispute highlights a key feature of centralized stablecoins. Unlike decentralized assets, USDT can be frozen by its issuer at designated blockchain addresses, allowing Tether to restrict transfers involving targeted wallets.
That control can support law enforcement efforts, but it also places greater responsibility on the issuer to identify suspicious activity and respond appropriately. For traders and investors, the dispute reinforces the importance of monitoring regulatory scrutiny surrounding major stablecoin providers.
Tether’s 94% reduction claim offers a direct rebuttal to the Senate investigation, but the competing accounts remain unresolved. The central question is whether Tether’s enforcement measures adequately prevent illicit use while meeting its legal obligations.
TLDR Tether CEO Paolo Ardoino says wallet freezes have cut Iran-linked stablecoin volumes by 94% since 2023. TRM Labs data shows Tether’s share of Iran-attributed wallet volume fell from 67% in 2025 to 14% by August 2026. Tether froze about $550 million in Iran-linked tokens in 2026, often weeks before U.S. sanctions were issued. The claims respond to a September 28 Senate report that called the stablecoin a financial lifeline for Iran. The U.S. is targeting about $1 billion in Iran-linked crypto assets for seizure under Operation Economic Outcast. Tether CEO Paolo Ardoino said on October 19 that the company’s wallet freeze program has cut Iran-linked stablecoin transaction volumes by 94% since 2023.
He shared the figures on X in response to a recent U.S. Senate report. That report had raised concerns about Iran’s use of Tether’s stablecoin and placed the company under fresh scrutiny in Washington.
Tether Says It Acts Before Regulators Ardoino said Tether froze relevant wallet addresses an average of four weeks before the U.S. Treasury’s Office of Foreign Assets Control, or OFAC, issued official designations.
He also said that in 99% of cases, Tether acted before blockchain analytics firm Chainalysis labeled the addresses.
Freezing a wallet stops the tokens held in that address from being moved or spent.
Data from TRM Labs supports the general trend. Tether’s share of on-chain volume in Iran-attributed wallets fell from 67% in 2025 to 14% by August 2026.
The company has frozen about $550 million in Iran-linked tokens so far in 2026. That includes $344 million in April and $130 million in July.
Tether has also frozen wallets tied to Iranian exchange Wallex and other sanctioned platforms in the past.
Senate Report Raised Concerns Ardoino’s statement responds to a September 28 report from Democratic staff on the Senate Permanent Subcommittee on Investigations.
That report reviewed 846 flagged Iran-linked wallets. It found that 84% of them transacted almost entirely in Tether’s stablecoin.
The report described the token as a major financial lifeline for Iran’s shadow banking network.
Iran’s Central Bank has also built up about $507 million in Tether tokens to support the rial, the country’s currency.
Tether’s stablecoin has a market value of about $183 billion. It holds more than 60% of the total stablecoin market, making it the largest stablecoin by far.
The issue comes as lawmakers debate the GENIUS Act stablecoin framework. Reports also showed that a firm linked to Bo Hines received $6.3 million from Tether while he helped shape stablecoin legislation.
In August 2026, Washington launched Operation Economic Outcast, a campaign to cut off Iran’s financial lifelines.
Treasury Secretary Scott Bessent said the U.S. is targeting about $1 billion in Iran-linked crypto assets for seizure under the program. Those assets have not been officially confirmed as frozen.
TRM Labs data backs the direction of Ardoino’s claim. However, the full 94% figure has not been independently verified.
Senator Richard Blumenthal, who led the subcommittee probe, has not publicly responded to Ardoino’s 94% claim.
Tether CEO Paolo Ardoino stated that the company’s wallet freezing measures have caused a 94% decline in Iran-connected stablecoin transaction volumes since 2023. Ardoino addressed the figures after scrutiny from a U.S. Senate report highlighting the role of Tether’s stablecoin in financing Iranian activities.
Proactive Actions: Tether’s Response to Regulatory PressureAccording to Ardoino, Tether implemented wallet freezes for addresses suspected of links to Iran, with action often taken weeks before formal designations by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). He noted that, on average, Tether froze suspicious wallet addresses four weeks before OFAC acted and claimed that, in the majority of cases, interventions preceded similar alerts from blockchain analytics firm Chainalysis.
When a wallet is frozen, the tokens associated with that address become inaccessible for transfer or spending. Ardoino emphasized that Tether remains committed to cooperating proactively with global regulators and authorities.
Ardoino reported that Tether’s wallet freeze program led to a 94% reduction in Iran-linked stablecoin activity since 2023, with the company typically acting weeks ahead of official U.S. sanctions.
Independent research from TRM Labs aligns with Ardoino’s claim, documenting a sharp fall in Tether’s market share for Iran-attributed wallet transfers from 67% in 2025 to just 14% by August 2026. Tether froze approximately $550 million worth of tokens linked to Iran so far in 2026, with major blocks of $344 million in April and $130 million in July. The company has also acted against wallets linked to Iranian platforms such as Wallex that are under sanctions.
Senate Scrutiny and Broader Regulatory ContextThe remarks come in response to a September 28 report from the Democratic staff of the Senate Permanent Subcommittee on Investigations. The report scrutinized 846 wallets flagged as connected to Iran, determining that 84% of these wallets primarily conducted transactions with Tether’s stablecoin.
The report described Tether’s stablecoin as a crucial resource for Iran’s parallel financial network. It also noted that Iran’s Central Bank has accumulated approximately $507 million in Tether tokens, using them to support the local currency, the rial.
The Senate subcommittee’s findings characterized Tether as a primary channel for bypassing U.S. economic restrictions and facilitating shadow banking for Iran.
Currently, Tether’s stablecoin holds a market value of about $183 billion, controlling more than 60% of the global stablecoin market and maintaining its position as the leading asset in the sector.
These developments come amid ongoing legislative debate over the GENIUS Act, a U.S. regulatory framework for stablecoins. Lawmakers are also examining the relationship between companies involved with stablecoins and officials involved in crafting regulations; one report indicated that an entity connected to Bo Hines received $6.3 million from Tether during his tenure influencing legislation.
Further action emerged in August 2026, when Washington launched Operation Economic Outcast to sever Iran’s financial connections. Treasury Secretary Scott Bessent announced that the U.S. aims to seize nearly $1 billion in crypto assets with links to Iran under this new policy, though those assets have not been officially confirmed as frozen.
Technical Monitoring and Meme TokensOn-chain forensics remains pivotal in identifying suspect activity and tracking asset flows in real time. Alongside sanctions enforcement, close monitoring of token movements and trading behaviors is essential, especially in rapidly moving sectors such as meme tokens. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”—which turned an initial $99 investment into approximately $370,000, stands out as a striking example of this activity. In this market, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App brings token discovery and trading together on a single platform, featuring social feeds, investor rankings, and trade notifications. Discover Fomo App to follow the world of meme tokens alongside investor activity.
While TRM Labs confirmed the general downward trend of Tether’s involvement with Iran-linked wallets, the full 94% figure has not undergone independent audit. Senator Richard Blumenthal, leading the subcommittee inquiry, has not commented publicly on Ardoino’s statistics.
Tether Invests in Tenstorrent to Expand Access to Open AI Computing Infrastructure
Investment supports Tether’s ambition to make AI more accessible by giving developers and businesses greater control over the technology powering it 20 October, 2026 – Tether Capital today announced its participation in the $1.5 billion Series E funding round of Tenstorrent, an AI computing company developing high-performance processors, systems and software. The round values Tenstorrent at $6.2 billion and advances Tether’s efforts to support open AI infrastructure, giving more people and businesses the ability to develop and run AI systems independently.
As artificial intelligence becomes more widely used, access to the computing power needed to run it remains concentrated among a small number of technology companies. Developers and businesses often depend on expensive, proprietary hardware and cloud services, limiting their ability to choose how and where their AI systems operate.
Tenstorrent is building an alternative. Led by chip architect Jim Keller, the company develops AI processors, servers, and software designed to give customers more control over their computing infrastructure. Its open-source software allows developers to run advanced AI models locally, while its hardware ranges from individual workstations to large-scale server systems. Tenstorrent also licenses its chip designs to companies developing their own processors, helping expand the options available beyond established hardware providers.
“AI should be something people can build, run and control themselves, without having to rely on a handful of companies for the computing power behind it,” said Paolo Ardoino, CEO of Tether. “The team at Tenstorrent are developing technology that gives businesses and developers more freedom to choose how they build and deploy AI. We believe open computing infrastructure will be essential to making AI accessible to more people, and we’re excited to support Tenstorrent as it brings that technology to a wider market.”
Tenstorrent will use the new funding to expand production and deployment of its Galaxy server systems, advance its AI and CPU technology, and grow its commercial operations globally. The round saw participation from Tether Capital and other new and existing investors*. Its technology already serves customers developing their own chips, including Samsung and LG, and supports applications ranging from large language models to video generation.
The investment builds on Tether’s broader work to make advanced intelligence more accessible. Through QVAC, its open-source AI platform, Tether is developing technology that allows AI to run directly on users’ devices, reducing dependence on centralized cloud services and giving individuals greater control over their data and computing resources.
The investment builds on Tether’s broader efforts across AI software, robotics and payments. Its QVAC platform is designed to run AI directly on users’ devices. Supporting Tenstorrent extends that focus to the processors and computing systems underpinning AI.
About Tether Capital
Tether Capital is the independent investment arm of Tether, the largest company in the digital assets industry. Based in El Salvador, the company deploys capital from Tether’s profits and excess reserves across a wide range of sectors where technology, infrastructure, and real-world utility intersect.
Its portfolio includes investments in artificial intelligence, financial services, energy, biotechnology, education, and digital media, as well as strategic stakes in industries such as commodities, remittances, and sports and entertainment. Tether Capital supports ventures with long-term potential to improve access, efficiency, and resilience in both emerging and developed markets. Its work supports Tether Group’s broader mission to strengthen decentralized systems, promote infrastructure resilience, and expand real-world access to open, transparent technologies.
Beating AI News Flash: AI computing firm Tenstorrent has closed a $1.5 billion Series E funding round, with participation from Tether Capital and other investors, valuing the company at $6.2 billion. Led by chip architect Jim Keller, Tenstorrent develops high-performance AI processors, servers and software, aiming to provide more open AI computing infrastructure for developers and enterprises. The company plans to use the funds to scale production and deployment of its Galaxy server system, advance AI and CPU technology R&D, and expand global commercial operations. Its technology already serves clients including Samsung and LG, with applications spanning large language models, video generation and other fields. Tether CEO Paolo Ardoino stated that AI should not rely on a small number of tech companies for computing power, noting that open computing infrastructure will help expand AI accessibility. This investment also continues Tether’s footprint in the AI sector; its open-source AI platform QVAC is dedicated to enabling AI to run directly on user devices, reducing reliance on centralized cloud services.
A major stablecoin issuer says it is outpacing official sanctions and analytics labels with proactive freezes on suspicious addresses.
Tether CEO Paolo Ardoino says that since 2023 the firm froze addresses an average of four weeks before the U.S. Treasury Department’s Office of Foreign Assets Control and Israel’s National Bureau for Counter Terror Financing formally flagged them as being linked to Iran.
He also says that the firm froze the reported addresses before Chainalysis labeled them Iran-linked 99% of the time.
According to Ardoino, these steps led to a 94% decline in Iran-linked stablecoin volumes.
The firm, which issues the dollar-pegged stablecoin USDT, credits its law enforcement partnerships for enabling fast responses to new threats.
Ardoino’s comments come in response to recent criticism by Sen. Richard Blumenthal (D-Conn.), who led a probe into 846 wallets sanctioned by the U.S. and Israeli governments over Iran ties and found that 84% of them traded exclusively or almost exclusively in USDT.
Blumenthal told the Wall Street Journal that the probe “exposes how Tether and its flagship token have become central to Iran’s shadow banking system, allowing the Iranian government to fund its regional proxies, commit human-rights abuses, and pursue hostile drone and missile programs as they defy our sanctions regime.”
Tether’s USDT accounts for about 60% of all stablecoins by market capitalization.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to official announcements, Binance will delist the spot trading pairs BONK/FDUSD, JUP/FDUSD, LDO/FDUSD, and WAL/BNB at 11:00 AM Beijing time on October 23.
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According to HTX market data, Bitcoin has rebounded and broken through $83,000.
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An address offloaded 58.57 WBTC at an average price of $81,620, totaling $4.78 million.
According to monitoring by crypto influencer Ai Yi, address 0x7a6…c096c has sold off 58.57 WBTC on-chain over the past 8 hours, worth $4.78 million at an average selling price of $81,620.
BNB Chain completed another quarterly token burn, continuing its push to reduce BNB’s supply toward a long-term target of 100 million.
The latest burn removed nearly $1.2 billion worth of tokens. Even so, BNB’s modest price recovery left sellers with the momentum advantage.
How much BNB did the latest burn remove?
According to BNB Chain, the 37th quarterly burn removed 1.64 million BNB worth approximately $1.197 billion.
The burn took place directly on BNB Smart Chain (BSC), advancing the project’s long-term supply reduction plan.
BNBburn estimated that the 38th quarterly burn would remove another 1,515,994 BNB, worth approximately $1.13 billion. That remained a projection. Cumulative burns reached 69.4 million BNB, according to the tracker.
Source: BNBBurn
Burns permanently remove tokens from supply, increasing scarcity. However, the price response still depends on demand and how much selling the market must absorb.
For BNB, the immediate test was whether buyers would follow the supply reduction with stronger purchases.
Did BNB demand strengthen after the burn?
BNB rebounded from $721 to $732 before retracing to $729 at press time. The recovery coincided with negative Spot Netflows, although these flows alone could not establish buying in response to the burn.
Source: CoinGlass
Over the previous 24 hours, BNB’s Spot Netflow fell to -$19.8 million, a level last reached in June. That extended a week of largely negative Netflows, with outflows exceeding inflows on tracked exchanges.
Such withdrawals could reduce the BNB available for immediate trading. They did not, by themselves, confirm fresh purchases or explain investors’ motives.
Still, the combination of exchange outflows and a price rebound offered buyers some encouragement. Momentum presented a tougher test.
Can BNB buyers overcome bearish momentum?
Despite the rebound, BNB’s MACD fell deeper into negative territory, reaching -7.56. The negative, declining reading suggested that bearish momentum remained dominant, leaving the recovery vulnerable to renewed selling.
Source: TradingView
If buying failed to strengthen, the token could fall below $720, bringing the $717 support level into focus. Conversely, stronger demand could help BNB reclaim $758 and potentially target a move above $800.
The burn reduced supply permanently. Buyers still needed to show they could sustain a recovery beyond the initial bounce.
Final Summary
BNB Chain’s 37th quarterly burn removed 1.64 million BNB worth approximately $1.197 billion.
The altcoin rebounded to $732 before easing to $729, while negative MACD readings kept the recovery under pressure.
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.
Japanese cryptocurrency exchange BitFlyer has issued a notice regarding Stellar (XLM) deposits after incoming transactions were not credited to client accounts in the usual manner, attributing the issue to access restrictions on the official Stellar API.
The issue started at around 11:49 p.m. Japan Standard Time on Monday, October 19, 2026, BitFlyer said in an X post. The exchange said it uses the official API of the Stellar Development Foundation to process inbound XLM payments, but the access limitations have affected its normal crediting process.
"Since approximately 11:49 pm (JST) on Monday, October 19, 2026, Stellar Lumens (XLM) received from external sources has not been credited to BitFlyer accounts as usual. This is due to access restrictions on the official Stellar API (Stellar Development Foundation), which BitFlyer uses," BitFlyer wrote.
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2026 年 10 月 19 日（月）午後 11 時 49 分頃から、XLM の公式 API（ Stellar Development Foundation ）へのアクセス制限の影響により、ステラルーメン（ XLM ）の受取が正常に反映されない事象が発生しております。
現在、代替手段による受取反映の再開に向けた対応を進めております。
なお、ステラルーメン（ XLM ）の送付およびその他の暗号資産の受取・送付には影響ございません。
お客様にはご不便とご迷惑をおかけしておりますことを心よりお詫び申し上げます。
ステラルーメン（ XLM ）の受取反映が復旧・再開しましたら、改めてご案内いたします。
Since approximately 11:49 pm (JST) on Monday, October 19, 2026, Stellar Lumens (XLM) received from external sources have not been credited to bitFlyer accounts as usual. This is due to access restrictions on the official Stellar API (Stellar Development Foundation), which bitFlyer uses.
We are currently working to resume crediting through alternative means.
Sending Stellar Lumens (XLM), as well as receiving and sending all other crypto assets, is not affected.
We sincerely apologize for the inconvenience this has caused.
We will provide a further update once the crediting of incoming XLM transfers has resumed.
— bitFlyer status (@bitFlyer_status) October 20, 2026
BitFlyer said it is working to resume crediting through alternative means. However, it did not provide a specific timeline for when incoming XLM deposits would resume being credited. At press time, no further update had been provided.
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Despite the disruption, BitFlyer clarified that the issue does not affect the sending of Stellar (XLM) or the receiving and sending of other supported crypto assets.
According to the notice, the problem concerns the crediting of incoming transfers (deposits) to BitFlyer accounts, as customers sending XLM to the exchange may encounter delays, rather than a general suspension of Stellar transactions.
Stellar sees Q3 growthStellar recently shared its Q3 2026 report, where it reported growth across various sectors. Stellar total volume grew 71% as banks, stablecoin issuers and fund managers went live on the network.
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In Q3 2026, several partnerships moved into pilots and production as total volume grew over the same period, and work began on uses for tokenized assets beyond holding. Total volume on Stellar reached $33.2 billion in Q3, up 71% against Q2 and 62% against the same quarter last year.
Stablecoin transfer volume grew faster still, up 121% quarter over quarter to $25.1 billion, and stablecoin velocity rose 55% before the transferred tokens appeared in their account balances.
Tokenized real-world assets on Stellar stood at $4.1 billion at the close of Q3, up 36% against Q2 and 548% against Q3 2025.
