SSV Labs v návrhu DIP-59 navrhuje pozastavit vývoj nových produktů do června 2027 a žádá financování pouze na údržbu, bezpečnost a kompatibilitu s upgrady Etherea.
DIP-59 proposes pausing new product development until June 2027 as SSV Labs adjusts to tighter funding and challenging market conditions.
The proposed funding will cover protocol maintenance, security, and compatibility with Ethereum upgrades.
SSV Labs submitted proposal DIP-59 to the SSV Network governance forum on October 21, and the language inside it is more candid than most governance proposals tend to be. Funding has narrowed, and the market conditions and the DAO’s financial position have forced a recalibration.
New product development is off the table, at least through June 2027. What remains is maintenance, security, and making sure the protocol stays compatible with Ethereum’s own upgrade schedule. Moreover, that is the honest scope of what DIP-59 is asking the DAO to fund.
What the Proposal Actually Does?
DIP-59 amends and extends DIP-31, the original development roadmap covering January 2025 through mid-2026, which was previously amended by DIP-53. The extension pushes the engagement through June 30, 2027. It is likely narrowing its scope as of July 1, 2026, and restructuring the remaining payment instalments.
The extension period runs in two parts. From June 30, 2026, to January 1, 2027, SSV Labs will deliver a defined network stewardship roadmap. From January 1, 2027, to June 30, 2027, the Maintenance Period, the focus shifts entirely to protocol maintenance.
In addition, the third and final grant instalment under DIP-31, totalling 1,736,111.11 SSV, has not been paid. DIP-59 revises and restructures that commercial arrangement rather than simply paying what was owed.
The Deliverables Still on the Table
Despite the scaled-back scope, the work planned for Q4 2026 is non-trivial. SSV Labs is committed to executing the Glamsterdam fork, participation in the public test network, a mandatory operator release, support through Ethereum’s mainnet fork window expected in Q4 2026, and post-fork stabilisation. This is deadline-driven work with dates set externally by Ethereum’s own schedule.
Also, the checkpoint sync completion and rollout is also on the Q4 list, including implementation, validation on local multi-operator test networks, and rollout through the standard release process including documentation and operator communications.
The Financial Structure
The first two instalments under DIP-31 covering 2025 remain unchanged. For 2026, SSV Labs is requesting 1,500,000 USDC, payable in the first scheduled batch of January 2027. For the first half of 2027, the request is 2,700,000 SSV, with 1,000,000 SSV payable initially and the remaining 1,700,000 SSV subject to a Conversion Option.
That option gives SSV Labs the discretionary right to receive 900,000 USDC instead of the 1,700,000 SSV, exercisable by written notice at least five business days before the first scheduled batch of July 2027. If the option is not exercised, the 1,700,000 SSV pays out in six equal monthly instalments of 283,333.33 SSV starting July 2027.
Furthermore, SSV Labs is also granted a first-ranking security interest over 900,000 USD held by the SSV Foundation, funds that may be deployed for yield generation through permitted venues.
Crypto Market Highlights
Pudgy Penguins (PENGU) Climbs 8%: Will Buyers Push for a Bigger Rally?
OCC dokončil prováděcí pravidla k zákonu GENIUS Act, která od 18. ledna 2027 stanoví pro stablecoiny požadavky na rezervy, odkupy, řízení rizik, reporting a dohled.
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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The US stablecoin market is entering a new regulatory phase, with Circle’s USDC and Tether’s USDT facing different challenges as federal oversight takes shape. Last night, UK time, the Office of the Comptroller of the Currency (OCC) finalized rules implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The framework establishes requirements covering reserves, redemptions, risk management, reporting, and regulatory supervision, with an effective date of January 18, 2027.
President Trump fundamentally transformed the future of finance with the signing of the GENIUS Act last year.
Today, U.S. Treasury’s @USOCC took a critical step toward implementing this historic legislation with the release of a final rule that delivers a federal framework for… pic.twitter.com/JXypSNdz6P
— Treasury Department (@USTreasury) October 21, 2026 Circle could benefit from its established US regulatory positioning, while Tether faces questions about how its international stablecoin business will fit into the new framework. The stablecoin market has USDT’s market share at 60.7%, compared with 23.9% for USDC. Together, the tokens represented 84.6% of the market.
Stablecoin Market Cap, DefiLlamaThe figures highlight both Circle’s opportunity and the scale of the challenge. USDC has room to expand, particularly among institutions seeking regulated digital-dollar infrastructure, but winning market share will require continued adoption, liquidity, and integration.
For Tether, the priority is protecting USDT’s established position while adapting to the requirements of an increasingly regulated market. Its international user base remains a significant competitive asset.
Discover: Crypto IPO to Watch This Q4
GENIUS Act on Exchanges and InstitutionsThe effects of the GENIUS Act extend beyond stablecoin issuers. Exchanges, payment providers, and financial institutions must assess which tokens they can support and how their products fit within the new framework.
Stablecoin rewards have emerged as another important battleground. The OCC’s final rule prohibits issuers from directly paying interest or yield to holders simply for holding payment stablecoins, but it does not impose a blanket ban on third-party reward programs. Instead, regulators will assess these arrangements case by case, including whether they circumvent the law’s restrictions.
That approach could shape how exchanges compete for stablecoin deposits. Platforms may retain room to offer qualifying rewards, while issuers and their partners will need to consider how their arrangements are structured.
The GENIUS Act also leaves further implementation work ahead, including separate requirements for anti-money laundering and sanctions compliance. The January 18, 2027, effective date gives affected businesses time to prepare, but regulatory applications and decisions will help determine how the framework operates in practice.
Can USDC Close the Gap With USDT?Circle has an opportunity to turn its regulatory positioning into stronger adoption among US institutions, payment companies and businesses seeking compliant stablecoin infrastructure. Tether, meanwhile, must preserve USDT’s global dominance while navigating the requirements governing access to the American market.
The GENIUS Act could make regulatory compliance a more important competitive factor, particularly for companies building payment and settlement services around dollar-backed tokens. That creates an opening for USDC to gain ground even as USDT retains its international advantages.
The next milestones will be issuer applications, regulatory decisions, and the January 2027 implementation deadline. These developments will help clarify which stablecoins are best positioned to serve American customers.
Zcash se po týdenním růstu o 15 % obchodoval kolem 1 300 USD, podpořen přílivem 15,18 milionu USD do ETF společnosti Grayscale a růstem otevřeného zájmu na futures na 2,89 miliardy USD.
Zcash traded around $1,300 on Thursday, posting a three-day recovery that lifted the weekly gain to approximately 15%. The privacy-focused cryptocurrency hovered near $1,287 as of the latest trading session, supported by strong inflows into exchange-traded funds and increasing activity in the futures market.
ETF inflows surge on renewed demandGrayscale’s Zcash-oriented exchange-traded fund posted $15.18 million in net inflows on Wednesday, a sharp increase from the $1.61 million recorded a day earlier, according to data provided by SoSoValue. This marked the largest single-day inflow in about one month and followed three consecutive weeks characterized by net withdrawals.
The latest influx signals a potential turnaround in investor sentiment, though analysts noted that two positive sessions alone do not confirm a lasting end to the previous outflow trend. A more sustained recovery in ETF demand would be necessary to establish a clear shift in the market’s trajectory.
The rebound in ETF inflows points to improving demand through institutional investment products after a period of persistent net withdrawals, but longer-term confirmation is still required.
Rising ETF activity has contributed to Zcash’s recent price stabilization, particularly as the broader cryptocurrency market reacts to developments in macroeconomic policy and digital asset investment products.
Futures open interest nears $2.9 billionZcash futures open interest reached $2.89 billion, its highest reading since September 29, as reported by CoinGlass. This figure increased from $2.25 billion at the start of the week, signaling an approximate $510 million rise in outstanding positions.
Open interest captures the notional value of current futures contracts and may reflect the introduction of new long or short positions, increases in the token’s price, or a combination of these factors. The uptick in open interest aligns with the observed rebound, but it does not indicate whether market participants are predominantly bullish or bearish on the asset.
Broader engagement from both investors and traders is evident, but analysts warned that increased leverage could fuel higher volatility if sentiment shifts abruptly.
In a rapidly moving market where sudden ETF inflows or altcoin listings can influence prices within seconds, investors increasingly seek consolidated, privacy-focused solutions to monitor markets and manage their holdings efficiently. Privacy-first platforms like CryptoAppsy allow traders to access live charts, tailored alerts, asset-specific news, and key macro data without the need to create an account, improving decision-making under fast-changing conditions.
ZEC maintains momentum above support levelsOn technical charts, ZEC continues to trade above its 50-period Exponential Moving Average of $1,210 and its 200-period EMA at $1,235 on the four-hour timeframe. These moving averages currently serve as short-term support, reinforcing the recovery structure.
The Relative Strength Index stands at roughly 61, reflecting positive momentum while staying clear of overbought territory, which is typically considered at a reading of 70. The Moving Average Convergence Divergence indicator also remains supportive, suggesting sustained upside bias.
However, analysts observed that further upside would require ZEC to overcome additional obstacles. The September 26 peak near $1,698 serves as a reference point for an extended rally, representing a potential 30% advance from current prices. Achieving a breakout above this level would signal renewed strength, though the outlook remains contingent on ongoing price action and trading range developments throughout the year.
A continued defense of the $1,250 support area and the recently reclaimed moving averages will be needed for Zcash to sustain its gains and attempt further upside.
The first key support remains at the $1,250 level, while the 50- and 200-period EMAs between $1,210 and $1,235 provide a broader technical safety net. A firm hold above these lines would help maintain the recent breakout, but a reversal below them may indicate that momentum is fading.
Monero 22. října za 24 hodin vzrostlo o 12,17 % na 648,26 USD po průrazu úrovně odporu v pásmu 600 až 620 USD; denní objem stoupl o 39,77 % na 251,1 milionu USD.
Monero price is up more than 12% on October 22, climbing toward $650 as trading volumes jumped and renewed futures activity helped the privacy coin break through a key resistance level.
Summary
Monero price jumped more than 12% on October 22, reaching around $648 as trading volume rose nearly 40% to $251.1 million. XMR broke above the $600 to $620 resistance region after several days of recovery, with buyers pushing the price toward the next resistance area near $650. Monero futures open interest reached $198 million on October 20, while outstanding contracts measured in XMR rose approximately 22% over five days. Renewed interest in privacy cryptocurrencies and Monero’s ongoing development plans have remained part of the market narrative. According to data from crypto.news, XMR was trading at $648.26 as of 06:02 UTC, up 12.17% over the preceding 24 hours, while daily trading volume rose 39.77% to approximately $251.1 million.
The rally followed several days of price recovery that saw Monero move from around $550 on October 15 to above $600 earlier this week. Bitcoin, meanwhile, recorded a relatively modest 0.26% gain over the same 24-hour period, leaving XMR among the stronger performers in the cryptocurrency market.
Although no major project announcement has been confirmed as the immediate reason behind Thursday’s gains, the latest move coincided with rising trading activity, improving technical momentum and increased participation in Monero’s derivatives market.
One of the main developments behind Monero’s latest rally has been its move above the $600 to $620 resistance region, where buyers had previously struggled to maintain momentum.
Crypto analyst Ali Martinez identified an ascending triangle formation on XMR’s hourly chart on October 20 and suggested that a breakout above $602 could open the way toward $630.
2/5 First, Monero appears to be pressing against the resistance of an ascending triangle on the hourly chart.
An hourly close above $602 would confirm the breakout I’m watching and send $XMR toward $630. pic.twitter.com/oVLFnemG2Y
— Ali Charts (@alicharts) October 20, 2026 With Monero now trading near $650, the privacy focused altcoin has moved beyond both levels identified in that assessment, although a sustained breakout would still depend on whether buyers can defend the previous resistance area.
The move followed a volatile trading session on October 21, when XMR briefly slipped toward $570 before recovering above $600.
Monero had already been gaining ground in the days leading up to Thursday’s rally, with its price climbing from approximately $549.54 on October 15 to $621.91 by October 21, according to historical market data.
Trading activity picked up as the recovery continued, with daily volume reaching $251.1 million on Thursday as XMR approached the next resistance region.
Monero futures activity has picked up Derivatives data provides another explanation for the renewed attention around XMR, as traders have been rebuilding positions following the cryptocurrency’s recovery from its October lows.
According to Santiment Intelligence, Monero’s futures open interest reached $198 million on October 20, while the number of outstanding contracts measured in XMR rose approximately 22% between October 15 and October 20.
During the same five-day period, Monero’s price gained roughly 9%, indicating that futures participation was recovering alongside the cryptocurrency’s market value.
As crypto.news previously reported, the October 20 open interest reading remained below the September 5 peak of $208.8 million, despite claims that leveraged positioning had reached record levels.
Santiment’s figures showed approximately 329,000 XMR in outstanding contracts on October 20, compared with around 402,000 XMR on September 2.
Funding rates presented a somewhat different picture. The seven-day average funding rate during October 14 to October 20 stood at roughly 0.9 times its reference average, compared with 2.7 times during September 28 to October 4.
The readings suggested that futures positions were recovering without the same elevated funding conditions recorded earlier in October.
Thursday’s market report placed aggregate open interest at approximately $155.2 million and perpetual funding at 0.0117%, although the figures came from a different reporting snapshot and should not be directly compared with Santiment’s earlier totals.
Privacy coin interest and Monero’s recent developments Interest in privacy-focused cryptocurrencies has remained another part of Monero’s recent market narrative, although available evidence does not establish a direct connection between that interest and Thursday’s rally.
Monero developers released version 0.18.5.4 of the Fluorine Fermi software on October 16, introducing several maintenance fixes involving DNSSEC validation and remote procedure call functionality.
The update addressed checkpoint verification, blocklists and software update checks, while restoring certain string-to-integer conversions in JSON requests.
Developers described the release as a minor maintenance update, with no confirmed evidence that it directly triggered the latest price movement.
The project’s longer-term development plans include FCMP++, a proposed privacy upgrade intended to improve Monero’s transaction privacy architecture. No new implementation milestone has been established as the immediate catalyst behind October 22’s price gains.
Can Monero price hold above $650? With Monero now trading near $650, traders will be watching whether XMR can move past the $650 to $660 resistance region and hold above it. Breaking above that could support further gains, although analysts have yet to identify a clear upside target beyond these levels.
If buyers fail to maintain the current momentum, $620 could provide the first level of support, followed by $600, which had previously acted as a major resistance level. A drop below $600 could see XMR revisit $570, where buyers stepped in during the October 21 trading session.
Further down, analysts have identified the $540 to $550 range as another potential support area, while an earlier bearish chart pattern pointed to $520 as a possible target if Monero slipped below $575.
Meanwhile, derivatives data showed approximately $338,000 in liquidations, with perpetual funding rates remaining positive. The funding readings indicated that traders holding long positions were paying a modest premium to maintain their positions.
A $10,000 position in NEXO at this morning’s $0.82 buys roughly 12,200 tokens. The market is pricing that position as if October 22 never happened: NEXO begins spot trading on Kraken today, and the token has barely moved. That is either the cheapest re-rating setup in the top 100, or a signal that an exchange listing is no longer the catalyst it was three cycles ago. The data points to the second read, and the trade only works if you respect it.
NEXO changed hands at $0.8157 as of roughly 08:10 UTC on October 22, up 0.34% over 24 hours, per CoinGecko data. Bitcoin held $82,074 (−1.2%), Ethereum $2,421 (−1.3%), and Solana $104.16 (−2.4%) in the same snapshot. NEXO’s market capitalization sits near $816 million at rank 86 — a top-100 asset still trading 80% below its $4.07 all-time high from 2022.
Coming soon: $NEXO
@Nexo is a digital assets wealth platform offering crypto-backed Credit Lines, yield, exchange and card services. The $NEXO Token is the platform’s native token.
Trading starts Oct 22
Get ready → kraken.com/sign-up
— Kraken Listings (@krakenlistings) October 20, 2026
A Listing the Market Has Already Faded Kraken’s listing desk announced the token on October 20 with a terse, two-part post: “Coming soon: $NEXO” and “Trading starts Oct 22.” The exchange describes Nexo as “a digital assets wealth platform offering crypto-backed Credit Lines, yield, exchange and card services,” and identifies the token as “the platform’s native token.” That is the full extent of the official material — no trading-pair list, no regional carve-outs, no depth commitments.
Kraken’s broader listings page frames the venue as one that “carefully vet[s]” and lists “600+ tokens” across established and emerging projects. NEXO appears on that roadmap as a confirmed listing, which is what moved the price: the token touched $0.8401 intraday after the October 20 announcement and has since slid back to $0.8123. The seven-day band is $0.8013 to $0.8401 — roughly a 4.8% range that has not broken in either direction. The listing also fits a broader push: Kraken’s parent Payward is acquiring Lithuania’s Saldo Bank to secure an EU banking license, which makes the NEXO add one tile in a European expansion rather than an isolated listing.
That is the signal. A listing that once guaranteed a double-digit pop on announcement day is now a one-day blip that fades before trading even opens. In our last money-angle screen, the Aerodrome-Velodrome merger carried a six-percent pop because it changed a structural fact — unified liquidity across seven EVM chains. A listing changes access, not structure, and the market is pricing the difference.
Why Bitcoin Is Stuck in a Two-Percent Box The backdrop is a Bitcoin market that has stopped making decisions. BTC is trading at $82,074, down 1.2% on the day after giving back a run toward $84,808, the 24-hour high. Over the past week the coin has done nothing but chop between roughly $81,000 and $84,800 while its 24-hour moves rarely exceed one percent in either direction.
The next hard date is the Federal Reserve’s policy decision on October 28. A $1.65 trillion market capitalization does not re-rate on a product announcement; it waits on the central bank. Altcoins, by contrast, can still move on a discrete, dated event — which is precisely why a trader screens a listing like this one. The question is whether the event is big enough to move a $816 million token, and the first hour of trading on October 22 is the honest test.
The NEXO Math: 2x, 10x, and the Road Back to $4.07 The money angle gets concrete fast. At $816 million, a 2x on NEXO lands at roughly $1.63 billion — no displacement required, just a move into the middle of the DeFi and lending-token field. A 10x lands at $8.16 billion, which would put NEXO above almost every lending and exchange token outside the majors and would demand a re-rating of the entire Nexo platform’s revenue story, not just a venue addition.
The more useful benchmark is the all-time high. NEXO peaked at $4.07 in 2022 and now trades 80% below it. Reclaiming that level at the current circulating supply implies a market capitalization of roughly $4.07 billion — about five times today’s $816 million. Framed another way, the $10,000 position at $0.82 becomes roughly $49,900 if the token ever revisits its record. That is the entire bull case in one number, and it is also the reason the setup demands patience: the path from $0.82 to $4.07 is a 400% move that nothing in the Kraken announcement promises.
The seven-day chart lays the case out plainly. NEXO drifted from $0.8337 on October 16 to $0.8123 by October 22, and the October 20 listing announcement produced only a brief touch of $0.8401 that has since faded. That is not the shape of a market scrambling to front-run a major listing; it is the shape of a token whose holders have already seen this movie.
Where This Trade Breaks The skeptical case writes itself. First, a listing is access, not demand — the token is available, but nothing in Kraken’s post commits volume, market makers, or new fiat rails. Second, NEXO is down 80% from its record for reasons a listing does not touch: a lending platform’s token trades on yield, on regulatory standing, and on the health of its loan book, not on how many venues list it. Nexo has spent years rebuilding compliance in Europe, including its MiCA alignment work, and that is the story that will move the price or fail to.
Third, the supply mechanics matter. NEXO pays yield and incentives in its native token, so the float is not static. A buyer has to ask what the token’s circulating supply looks like a year from now, not just today. Finally, the invalidation is clean: if NEXO cannot hold $0.80 — the bottom of its seven-day range — the listing premium is already spent, and the trade thesis is broken. The re-rating case only opens above $0.84, where the announcement pop stalled.
Frequently Asked Questions What is the NEXO price today? NEXO traded near $0.82 on October 22, 2026, up about 0.34% over 24 hours, with a market capitalization of roughly $816 million and a rank near 86 by market cap.
When does NEXO start trading on Kraken? Kraken’s listing desk said “Trading starts Oct 22” in its October 20 announcement, with the NEXO token confirmed on Kraken’s asset listings roadmap.
Why is NEXO not moving more on the Kraken listing? The token popped to $0.8401 on the October 20 announcement and has since faded to about $0.81, because a listing changes access rather than the platform’s revenue, yield, or regulatory standing.
Can NEXO return to its all-time high of $4.07? A return to the 2022 record high of $4.07 would imply a market capitalization near $4.07 billion at current supply, roughly five times today’s level — a move that depends on platform fundamentals, not venue count.
What is Nexo? Nexo is a digital assets wealth platform offering crypto-backed credit lines, yield, exchange, and card services; the NEXO token is its native token.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
AUTHOR
Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Algorand ($ALGO) stablecoin market cap has risen almost 25% in a week to $97.07M, putting the $100M milestone within reach, per DefiLlama data.
Algorand ($ALGO) is closing in on a stablecoin milestone. The stablecoin market cap on the network has risen by nearly 25% over the past week, according to DefiLlama data, and now stands at $97.07M.
If that pace holds, the network will pass $100M in stablecoin supply in the coming days. That would place @Algorand among a group of only 26 other networks above that level.
What the data showsDefiLlama's Algorand dashboard, updated on Oct. 21, 2026, lists stablecoin market cap at $97.1M, with a 7-day change of +24.92%. USDC dominance is 98.51%, which means the increase is almost entirely driven by a single issuer's token.
That concentration is not new. In late September, a separate snapshot showed the supply at about $45M, with USDC making up nearly 96%. The latest figure is therefore more than double that level in under a month. A third-party report also pointed to a sharp rise in USDC on the network over 30 days, with total stablecoin supply reaching its highest level since July 2025.
Algorand is one of the chains where Circle issues USDC natively rather than through a bridge. Circle's Cross-Chain Transfer Protocol is also expanding the number of chains between which USDC can move, which can make it easier for liquidity to arrive on smaller networks.
Rankings and what to watchA move past $100M would be a symbolic step more than a structural one. Sitting alongside the broader ecosystem, Algorand's DeFi total value locked was $34.62M on the same DefiLlama page, and 24-hour DEX volume was around $188,522. Stablecoin supply alone does not show how actively the funds are being used.
If growth continues beyond the $100M mark, the chain could overtake networks such as @SonicLabs and @NEARProtocol in stablecoin supply rankings. Those comparisons depend on daily changes in supply on each chain, and positions can shift quickly.
For $ALGO, which DefiLlama lists with a market cap of about $1.03B, the stablecoin trend is one indicator of on-chain liquidity. It does not by itself point to price direction.
SourcesDefiLlama: Algorand chain metrics
Eco: How USDC works in 2026 (native chain list and CCTP V2, citing Circle)
Aave Labs navrhuje aktualizaci V3.8 s ochranou proti reentrantním útokům pro 16 sítí Aave V3. Změna zatím nebyla nasazena a čeká na připomínky komunity, audit a hlasování o AIP.
Aave Labs wants to change the locks before anyone tries the door. On October 21, 2026, the team published a proposal for Aave V3.8, an upgrade centered on adding a reentrancy guard to Pool accounting.
The proposal would cover 16 active Aave V3 instances, including deployments on Ethereum, Avalanche, BNB and Polygon. Nothing has shipped yet, and no exploit prompted it. Aave is patching a risk, not cleaning up after one.
What the V3.8 proposal actually does The core change is a reentrancy guard applied to Pool operations during external callbacks. That sounds dense, so start with an analogy.
Picture an ATM that hands over cash before it updates your balance. A clever customer could ask for more money in that tiny gap, while the machine still believes the account is full. Reentrancy works the same way in smart contracts.
A contract hands control to outside code, which calls back into the original contract before its records are settled. If the books are mid-update, the second call can see stale numbers. The result can range from accounting errors to drained funds.
Aave’s proposal targets exactly that gap. According to the research findings, the guard is meant to keep accounting consistent when a single transaction touches the Pool more than once.
The mechanism relies on EIP-1153, an Ethereum standard for transient storage. Transient storage is a scratchpad that lasts only for the length of a transaction, then wipes itself clean.
That matters for cost. A reentrancy guard needs to remember, briefly, that the Pool is already busy. Writing that note to permanent storage would be pricey, and transient storage lets Aave keep the protection while holding gas costs low.
Aave Labs describes V3.8 as a minor, non-invasive release. The stated goal is long-term robustness, not new features or a redesign of how lending and borrowing work.
Where the proposal stands in governance This is a proposal, not a finished upgrade. Aave Labs posted it to the Aave governance forum as an ARFC, short for Aave Request for Final Comment.
From here, the plan still has three hurdles to clear. It needs community feedback, security audits and an AIP vote, meaning a formal Aave Improvement Proposal decided onchain by token holders.
The scope is also notable. Rolling the same change across 16 networks means coordinating deployments on chains with different environments and validator sets. A uniform guard across all of them would give Aave a consistent security baseline, rather than a patchwork of versions.
A pattern of preemptive fixes V3.8 is not Aave’s first pass at this problem. The research findings note that the proposal follows earlier Aave V3 security work, including previous reentrancy fixes and updates to the protocol’s broader risk management framework.
The absence of a disclosed exploit is the key detail here. Aave Labs has not pointed to any vulnerability being used against the protocol. The guard is framed as defense in depth, an extra layer added because the cost of being wrong is high.
What this means for Aave users and DeFi For people supplying or borrowing on Aave, the near-term impact should be minimal if the upgrade passes. A non-invasive release that leans on transient storage is designed to avoid changing user flows or adding noticeable gas overhead.
What to watch next is straightforward. Track the forum discussion for objections or requested changes, then look for audit results and the timing of the AIP vote. If the proposal clears all three, the rollout across 16 networks will show whether Aave can ship a coordinated security release as cleanly as it planned one.
One more thing to keep an eye on: how the guard interacts with integrations that rely on callbacks into the Pool. Any protocol building on top of Aave will want to confirm that the new protection does not block legitimate multi-step transactions. That kind of edge case is exactly what the audit and feedback stages exist to catch.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Zakladatel DFINITY Dominic Williams zpochybnil soukromí služby NEAR Confidential Intents: síť FAR podle něj spoléhá na neznámé centralizované provozovatele a není open-source.
DFINITY founder Dominic Williams questions the privacy design of NEAR Protocol's Confidential Intents, citing a PhD engineer's review of its FAR network, open-source status and node operators.
DFINITY (@dfinity) founder Dominic Williams (@dominic_w) has publicly questioned the privacy design of Near (@NEARProtocol) Confidential Intents, citing a review by a PhD engineer. The criticism targets $NEAR's privacy layer for cross-chain trading and comes as the token trades higher on separate ecosystem news. Williams is the founder of the Internet Computer ($ICP), a competing blockchain network.
What Williams AllegesWilliams shared the engineer's assessment, which alleges the system relies on a separate permissioned network called FAR, where operators are trusted to protect private data. The review also questioned the privacy technology itself, the feature's open-source status and the fact that node operators have not been disclosed.
According to CoinPedia, Williams described the setup as running on unknown centralized nodes and not open source, and implied the network could be one of the overpromised Web3 projects. The same report says some supporters agreed with his doubts, while most replies came from critics who contrasted the weaker ICP price with NEAR's performance.
The claims are Williams' and the engineer's. NEAR has not been shown to have responded to the specific allegations in the material reviewed for this article.
How NEAR Describes Confidential IntentsNEAR positions Confidential Intents as a way to protect trading activity on its cross-chain system. In its product announcement, the project says users can toggle between a Main Account and a Confidential Account, opting into confidentiality across transfers, deposits and withdrawals. NEAR says the aim is to prevent MEV extraction, frontrunning and strategy copying.
On architecture, Glitchwire reports that transactions are routed through a dedicated NEAR private shard, described as a parallel execution environment run by a decentralized set of permissioned validators. The shard connects to NEAR's mainnet through a bridge built on Trusted Execution Environments. The same report says NEAR states the product is not a mixing or anonymization tool and includes selective disclosure for regulatory compliance.
The description of a permissioned validator set overlaps with part of Williams' critique, though the sources differ on how they characterize it. The dispute centres on how much users must trust those operators, and on what NEAR has disclosed about the validators and underlying technology.
Why It MattersPrivacy tooling is a growing area of cross-chain DeFi, and design choices such as who operates the infrastructure and whether the code is public bear directly on how much trust users place in it. The exchange also reflects ongoing competition between NEAR and Internet Computer, whose founders have traded technical criticism in the past.
Readers weighing the claims may want to look for independent audits, validator disclosures and published code from NEAR as the debate develops.
Sources:
CoinPedia: Near Protocol surges 5% despite DFINITY founder slamming its techNEAR: Confidential Intents announcementGlitchwire: Confidential Intents reaches general availability
Robinhood Chain generated about $51 million in network revenue in its first quarter of operation. Ethereum (ETH) brought in roughly $41 million over the same period.
ARK Invest reported the figures in its DeFi Quarterly covering the third quarter of 2026. Its data shows Ethereum’s network revenue fell about 35% from the second quarter.
Ethereum Missed Out on a Rebound QuarterAcross the networks in the report, revenue rose about 24% from the second quarter to roughly $349 million. The total sat about 47% below its level a year earlier.
ARK said the quarter marked the first increase in 5 quarters. It credited the rise to Solana’s (SOL) recovery and Robinhood Chain’s debut.
Ethereum also lost ground in tokenization. On public blockchains, its share of tokenized real-world asset value fell from about 50% in late June to 44%. It still hosted the most, at about $16.7 billion.
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Network Real Economic Value by Blockchain Source: ARK Invest Ethereum’s decentralized exchange (DEX) volume also fell about 27% from the second quarter, while Base’s dropped about 17%. ARK said trading volume shifted toward newer venues such as Robinhood Chain.
Robinhood’s Chain Faces Its First Earnings TestRobinhood opened the chain’s public mainnet on July 1, about 5 months after its testnet went live in February.
The network settles transactions on Ethereum and uses ETH as its gas token. That means Ethereum still collects a portion of the fees the chain generates.
In its debut quarter, the chain processed about $65 billion in DEX volume. That made it the fourth-largest network by DEX volume in ARK’s data.
Tokenized equities accounted for about $13.7 billion of that trading. Only BNB Chain hosted more, at roughly $16.5 billion.
For Robinhood shareholders, the revenue question lands on October 27, when the company reports third-quarter results. That release covers the chain’s first full quarter of operation.
Robinhood has tied the chain’s payoff to usage in its second-quarter filing with the Securities and Exchange Commission (SEC).
“Our ability to generate revenue from Robinhood Chain depends significantly on the level of adoption and developer activity on the network,” it said.
Coinbase offers a precedent. It noted in July that it books Base sequencer fees within other transaction revenue. That line fell about 11% from the first quarter to $47.4 million. CFO Alesia Haas tied the drop to lower instant transfer activity and Base revenue.
ARK also flagged a risk to those numbers.
“We do not expect to see Robinhood Chain continue to post such impressive revenue numbers, as a recent increase in gas on Robinhood Chain will eliminate high fees from congestion pricing,” the firm noted.
Robinhood shares traded at $101.9 at press time, down 11.5% in 2026 so far. The call will show whether management reports the chain’s contribution separately.
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Solana has announced that it has recorded $5 trillion in stablecoin volume this year, with more than two months remaining in 2026. This figure significantly surpasses the $3 trillion volume recorded by the blockchain in 2025. The volume increase indicates strong adoption and high transaction activity on Solana’s network. This development comes amid Solana’s growing share in the global stablecoin market, where it holds approximately 5% of the supply, yet processes a disproportionately high transaction volume.
Key Takeaways Solana’s report of $5 trillion in stablecoin volume appears consistent with increased network adoption and transaction activity. Market pricing suggests that the significant milestone could positively influence Solana’s price by indicating robust network use. The Solana price prediction market shows a current 66.5% YES for the question of whether Solana will dip to $100 by the end of October 2026. What to Watch Market participants will be observing whether Solana’s transaction volume will continue to escalate, potentially affecting its price. Key events such as regulatory decisions from the SEC or announcements from major partners like Samsung may also influence market dynamics. Observers are also likely to focus on the impact of Solana’s technological upgrades, such as the recent Alpenglow activation, on network performance and adoption rates.
Term Structure
Contract Odds Δ since publish Volume 24h November 1 2026 0.5% — — View market → November 1 2026 1.8% — — View market → November 1 2026 14% — — View market → November 1 2026 3.6% — — View market → November 1 2026 0.2% — — View market → November 1 2026 0.5% — — View market → November 1 2026 0.9% — — View market → November 1 2026 1.3% — — View market → November 1 2026 1.1% — — View market → November 1 2026 0.1% — — View market → November 1 2026 0.1% — — View market → November 1 2026 4% — — View market → November 1 2026 0.4% — — View market → November 1 2026 1.2% — — View market → November 1 2026 65.5% — — View market →
A stock’s digital twin is now busier than the stock itself. Tokenized shares of Vida Global, trading on Solana as VIDAx, logged 248% more volume than the company’s traditional shares over a 30-day window.
The data comes from SolanaFloor, which published the comparison on October 22, 2026.
The numbers behind the copy
The VIDAx figure covers the 30 days before October 22. During that stretch, the on-chain token traded well above the volume of Vida Global’s shares on the NYSE American.
Vida Global was not the only name in the data. The tokenized version of Trump Media & Technology Group, ticker DJT, reached 27% of its traditional finance volume over the same period.
The VIDAx token arrived shortly after Vida Global went public in May 2026. Since then, it has shown fast growth in both holders and trading volume.
Lyle Pratt, Vida Global’s CEO, has been vocal about that traction. He has repeatedly pointed to the token’s expanding holder base and rising volume as evidence the experiment is working.
A bigger wave on Solana
Tokenized equities on Solana hit $4.4 billion in volume in September 2026 alone.
Tokenized equity supply on the network reached a record $684 million, a 47% jump in just three weeks.
Solana’s tokenized equities crossed 1 million holder addresses around late September and early October.
Solana has consistently accounted for more than 95% of global on-chain equity volume in quarterly figures.
How tokenized stocks actually work
Issuers including xStocks, backed by Backed Finance, and Backpack Securities provide these tokens on a 1:1 basis. Each token is meant to correspond to one underlying share.
Those tokens trade on Solana decentralized exchanges such as Raydium. Because blockchains do not close, the trading does not stop when the NYSE closing bell rings.
What this means for traders and issuers
When a token outtrades its underlying stock, it becomes a primary venue rather than a mirror. If more trading happens on Solana than on the NYSE American for VIDA, the on-chain market may increasingly influence where the stock’s price is set, especially outside regular hours.
Percentages deserve some caution, though. A 248% gap describes a ratio, not a dollar amount, and ratios can look dramatic when the traditional baseline is modest.
There are risks worth tracking. Tokenized stocks depend on the issuer actually holding the underlying shares, so the 1:1 backing is only as solid as the custodian behind it.
Round-the-clock trading also cuts both ways. Markets that never close can react to news instantly, but they can also move sharply during hours when traditional venues are dark and less liquidity is available to absorb big orders.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Více než 30 % digitálních aktiv mimo centralizované burzy je již drženo v institucionální úschově, uvádí zpráva společnosti BCG, kterou si objednala společnost Ripple.
Crypto infrastructure company Ripple on Thursday said custody is no longer just a vault, but an operational layer for digital finance. As crypto-tradFi convergence grows, financial institutions are betting big not only on crypto assets such as Bitcoin and XRP but also on underlying services such as custody.
Ripple Positions Custody as Core to Digital Finance With growing focus on governance, interoperability, and integration, digital asset custody is becoming a foundational operating layer of digital finance, according to a report from Boston Consulting Group (BCG) and commissioned by Ripple.
The Beyond Safekeeping: Custody as the Operating Layer Beneath Digital Finance report found that more than 30% of digital assets, excluding holdings on centralized exchanges, are now held through institutional custody models. This share is continuing to grow amid increased demand.
Under MiCA and the GENIUS Act, security and key management have now become requirements. Institutions now see governance, policy controls, interoperability across networks, and integration with existing financial infrastructure when selecting custody providers.
Real custody is the engine running the whole financial system, now powering tokenized assets, instant settlement, and cross-border transactions.
Digital asset custody is major for tokenized real-world assets, stablecoin issuance, payments, treasury, lending, and collateral management. This shifts the business case for custody to broader value creation.
Beyond custody to value creation. Makes Ripple’s acquisitions make more sense if there is a demand for custody operating as a layer for digital finance, covering tokenisation, payments, treasury, lending and use of digital assets as collateral.
It is amazing to hear that 30% and… https://t.co/roW1P0k54O
— bill morgan (@Belisarius2020) October 22, 2026
How Institutions Can Boost Profits BCG estimates that a regional bank with a $200-300 billion balance sheet could improve its profit and loss by up to $100 million with the right custody decisions. Major institutions including Morgan Stanley, Citi, and BNY are already building or expanding their own custody capabilities.
Moreover, institutions can use custody models such as Wallet-as-a-Service. It is gaining traction among fintechs focused on retail and payments. Meanwhile, larger banks are increasingly licensing self-custody technology and building products on top of it.
Ripple offers integrated crypto infrastructure services. This combines custody with settlement assets, payment rails, treasury, and execution to reduce the need for multiple separate integrations. Multi-custody orchestration behind a common control layer is also becoming a market standard.
As CoinGape reported earlier, Ripple partnered with Meritz Securities to bring institutional custody and tokenization to South Korea’s capital markets. With increasing institutional interest amid regulatory clarity and tradFi-focused blockchain improvements, the demand for custody will continue to grow to safeguard digital assets.
Lighter founder and CEO Vladimir Novakovski stated during the Q3 investor meeting: "We are currently pursuing licenses as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). We have spent extensive time communicating with staff at the U.S. Commodity Futures Trading Commission (CFTC) to align with all its core principles. Many of these principles already have clear correspondences with how Lighter implements them on-chain. For other principles, we have developed entirely new approaches that are unprecedented for regulators, and they are now investing significant time engaging with us to understand how these work. Our next plan is to formally submit these license applications next month. Regulators then have a maximum of 280 days to review them. Since we have completed all this preparatory work, we believe the subsequent process will go smoothly. We are very much looking forward to obtaining these licenses in the U.S. and opening our platform to the American market—not for retail users, but for institutional clients." Earlier, LIT saw a price drop amid news that Robinhood launched perpetual contracts in the U.S. using Bitstamp. At the time, Robinhood CEO Vlad Tenev told reporters that the decision not to select Lighter was due to regulatory structure. Novakovski’s remarks at the investor meeting have reignited community speculation that Lighter could collaborate more closely with Robinhood once it becomes compliant. According to HTX market data, driven by these remarks, LIT rose as much as 15% in 24 hours and is currently trading at $3.76.
Síť Sei má 2 510 držitelů tokenizovaných aktiv z reálného světa (RWA), což je za 30 dní nárůst o 24 %, zatímco měsíční objem převodů se téměř ztrojnásobil na 18,8 mil. USD.
Sei Network (SEI) now has 2,510 tokenized real-world asset holders, up about 24% in 30 days, as monthly RWA transfer volume nearly triples to $18.8M, per rwa.xyz.
Sei Network is drawing more holders and more activity in tokenized real-world assets (RWAs), even as the total value on the chain has barely moved. @SeiNetwork now counts 2,510 holders of tokenized RWAs, up about 24% in 30 days, according to rwa.xyz data.
Monthly RWA transfer volume on the $SEI chain nearly tripled to $18.8M, while total value held steady at about $291M. The growth is in the number of users and the pace of movement, not in assets under management.
Ondo's USDY dominates the value held on Sei@Ondo accounts for about $260M, or 89%, of the total through its US Dollar Yield token (USDY). The product is backed by short-term US Treasuries and bank deposits, and it was the first tokenized Treasury product to launch on the network, according to TheStreet. That launch took place in July 2025.
The concentration is notable. With nearly nine-tenths of the value tied to one issuer, Sei's RWA footprint depends heavily on demand for a single yield-bearing dollar product.
Credit and hedge fund products add smaller slices@Securitize holds about $15.6M through one Apollo credit fund. CoinDesk reported that Securitize introduced the Apollo Diversified Credit Fund, a tokenized feeder fund of Apollo's private credit vehicle, to Sei ahead of KAIO's expansion to the chain.
KAIO (@KAIO_xyz) holds a similar amount across funds from Hamilton Lane, Brevan Howard, and Laser Digital. CoinDesk described KAIO as backed by Brevan Howard and Nomura's Laser Digital, with tokens available to institutional and accredited investors for onchain subscription, redemption and reporting.
Access restrictions on these products may limit how much activity they generate. Crypto outlet Tron Weekly noted this week that access rules and actual investor demand will shape the economic impact of the network's tokenized fund offerings.
For now, the data points to a growing but narrow RWA base on Sei: more wallets and faster turnover, built mostly on one Treasury-backed token.
Sources
RWA.xyz: Sei Network tokenized asset analyticsCoinDesk: KAIO expands tokenized funds to SeiTheStreet: Ondo brings tokenized US Treasury to Sei Network
Decentralizovaná burza perpetual kontraktů Extended zahájí 22. října 2026 migraci ze Starknetu na síť Arc od společnosti Circle; vklady a výběry budou až na dvě hodiny pozastaveny.
Extended, a decentralized perpetuals exchange, is packing up its settlement layer and moving from Starknet to Arc, the Layer 1 blockchain developed by Circle. The migration is scheduled to begin on October 22, 2026, at 13:00 UTC.
What changes, and what doesn’t
Extended says trading will run without interruption throughout the migration. Deposits and withdrawals will pause for up to two hours while the move takes place.
For most users, no action is required. The exchange expects the majority of participants to wake up on the other side of the migration with balances intact and positions untouched.
USDT and wBTC will not be supported on Arc. Users holding either asset have two options before the October 21, 2026, deadline. They can convert USDT into USDC and wBTC into cirBTC at a 1:1 ratio, or they can withdraw. The conversion terms also include a 0.50% premium. Traders holding meaningful USDT or wBTC balances should check exactly how that premium applies to their holdings before the cutoff.
ETH holders get the easy version. Their balances will be automatically converted to wETH at a 1:1 ratio, with no paperwork required.
Why Arc, and why now
Arc is Circle’s own blockchain, and its mainnet launched on September 16, 2026, with a founding validator set that includes BlackRock and Visa.
Extended’s stated goals for the move include faster performance through sub-second finality and stablecoin-denominated transaction fees. Extended has framed the migration as a way to build deeper connections with institutional investors, and predictable fees are part of that appeal.
USDC is Circle’s flagship stablecoin, so shifting stablecoin balances from USDT to USDC aligns the exchange with its new host chain’s native ecosystem.
The scale of the move
Extended holds approximately $117.7 million in total value locked, most of it on Starknet. Moving a nine-figure pool from one settlement layer to another, while keeping the order book live, is a meaningful operational test.
What this means for traders and the broader market
For Extended’s users, the near-term to-do list is short but non-negotiable. Anyone holding USDT or wBTC needs to convert or withdraw by October 21, 2026, and should plan around the two-hour deposit and withdrawal pause starting October 22 at 13:00 UTC.
For Arc, landing an established perpetuals exchange within weeks of mainnet is a useful early signal. A derivatives venue bringing approximately $117.7 million in TVL gives Arc a working, high-throughput use case to point to.
There is also a concentration question. Moving onto a chain built by a single stablecoin issuer, with USDC as the default dollar asset, ties Extended more closely to Circle’s ecosystem.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
According to TradingBeats monitoring, from last night to the present, six whale addresses (each holding over $1 million) on Hyperliquid have been liquidated for a total of roughly $25.911 million, including $18.5024 million in short positions and $7.4086 million in long positions. Both long and short sides saw consecutive liquidations. Trader Aguila Trades was partially liquidated four times today, while another multi-million-dollar short whale retained a large position after multiple rounds of liquidations. Over the past half hour, trader Aguila Trades (0x1f25) has been partially liquidated four times in a row on its BTC long positions, with a total of 21.12 BTC (worth around $1.7612 million) liquidated, resulting in a loss of approximately $25,900. The account currently holds 14.65 BTC long positions, valued at around $1.2144 million, with a liquidation price of $82,695. The largest liquidation in this round stemmed from an account starting with 0x4b62. Last night, this whale’s BTC and ETH short positions were partially liquidated multiple times, with a total of 203.60 BTC and 565.16 ETH liquidated, amounting to around $18.5024 million. The account has continued trading since, and currently holds roughly $29.1877 million in BTC short positions. The remaining four addresses also faced million-dollar-level liquidations one after another. Among them, the account starting with 0x89f had its entire BTC long position of around $2.2222 million liquidated, with no perpetual positions left; the account starting with 0x3f5f had its BTC and ZEC long positions liquidated for around $1.1842 million and $116,900 respectively, while still holding remaining positions. Additionally, the account starting with 0x7c1 had around $1.117 million in BTC long positions liquidated over the past half hour; the account starting with 0x9bb had around $1.0072 million in BTC long positions liquidated over the past hour.
Pudgy Penguin [PENGU] has jumped by almost 9% since it was listed on SoFi on the 20th of October. The SoFi listing of this token could bring new interest to a token that has been struggling with losing value over several months.
Notably, this rally comes after weeks of selling pressure pushed PENGU from $0.0112 toward $0.00706, where buyers repeatedly defended support.
Later on, the price moved toward $0.00807. This is where buyers were able to reverse the momentum and cause the price to begin moving upward again.
However, at this point PENGU has still not broken through the larger downtrend. As of writing, PENGU was trading near its previous high of $0.0085. This previous high also served as a strong support price before being breached in early October.
Source: TradingView The SoFi listing has created enough renewed interest in the token so that it is seeing increased buying activity. However, sustained price increases will need to occur for the renewed interest to develop into a prolonged recovery.
PENGU liquidation levels to watch The current recovery for PENGU may also face a possible price swing. The increase in leveraged trading has increased trading activity around the token. The 24-hour heatmap below shows a major cluster around $0.00830–$0.00835.
If a breakout occurs here, the short sellers who held these positions will be forced to buy back positions to recoup some of the losses.
These forced purchases may accelerate gains and help PENGU challenge the $0.00850 resistance identified in its recent price action. However, the downside risk remains relatively close, as evidenced by the second largest cluster at $0.00790–$0.00795.
Source: CoinGlass If buyer support fails to materialize in this zone, the number of forced long closures could create additional selling pressure towards $0.00780 and ultimately lower levels.
PENGU’s long-term outlook Beyond the short-term resistance test of PENGU’s price, PENGU will ultimately depend on the long-term ability to sustain demand that reverses the bearish structure in place over time.
If PENGU can gain traction and produce a confirmed weekly breakout alongside growth in volume and spot accumulation. Ultimately, this could result in a potential price move toward the $0.012-$0.015 zone.
In turn, if buyers can reclaim this zone, further upside for PENGU could occur of up to $0.250-$0.340 with participation from the overall market required.
On the other hand, circulating supply remains a challenge, with approximately 70% or 62.86 billion PENGU tokens already in circulation against a maximum of 88.88 billion.
In light of this fact alone, any drop-off in demand for PENGU could cause huge difficulties in allowing PENGU to make significant future gains.
Final Summary Pudgy Penguins gained 8.9% after its SoFi listing but faces resistance at $0.00850.
PENGU could target $0.0120–$0.0150 after a confirmed breakout, while losing $0.00706 risks a drop toward $0.0037.
Pump.fun nahradil Relay vlastním Pump Bridge pro obchody mezi řetězci. Podle interních testů jsou nákupy dvakrát rychlejší a chybovost klesla z více než 10 % na méně než 1 %.
Pump.fun has stopped renting its cross-chain plumbing and started building its own. The Solana-based memecoin launchpad now sends cross-chain trades through Pump Bridge by default, replacing Relay, the outside provider it used before.
What Pump Bridge changes
The switch happened on October 21, 2026, according to the research findings. Pump Bridge is now the standard route for anyone trading across chains in the Pump.fun app.
The headline numbers come from Pump.fun’s internal tests. Buys through Pump Bridge reportedly execute about 2x faster than they did on Relay. They also reportedly produce 92% fewer errors.
The before-and-after picture is stark if the figures hold. Relay’s error rate was over 10%, according to the platform. Pump Bridge has reportedly brought that below 1%.
Latency was the other sore spot. Under Relay, a typical cross-chain trade took around 4 seconds. More than 10% of trades took longer than 7 seconds.
Pump.fun says it is optimizing toward the fastest theoretical cross-chain buy time, which it puts at approximately 1.1 seconds. That is a target, not a current result.
Cost matters too. Pump Bridge currently charges no extra bridging fees on trades.
Why Pump.fun built its own bridge
Pump.fun has been live on Solana since January 2024, focused on its launchpad for creating and trading memecoins.
That changed in May 2026, when the platform added cross-chain swap support. The upgrade opened trading across several ecosystems, including Ethereum, Base, and BNB Chain.
At launch, those cross-chain trades ran through Relay. User complaints about latency and execution quality under that setup pushed Pump.fun toward building its own infrastructure, per the research findings.
Relay is not exiting the memecoin scene, though. Rival trading platform FOMO still uses Relay for its cross-chain routing.
What this means for traders and rivals
For traders, the practical pitch is simple. Fewer failed trades and quicker fills, with no added bridging fee at the moment. Moving from an error rate above 10% to below 1% means far fewer moments of clicking buy and watching nothing happen.
The caveat is that every performance figure here comes from Pump.fun itself. The 2x speed improvement and the 92% error reduction are based on the company’s internal testing.
Pump.fun is now directly benchmarking its in-house product against the provider a rival still depends on. Owning the bridge gives Pump.fun more control over the user experience, the pace of upgrades, and potentially its own economics down the line.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
A new Solana memecoin has hard-coded its entire creator fee stream to a single wallet, permanently. The token is $KIMCHI, launched on Pump.fun, and the address receiving those fees cannot be changed.
Pump.fun’s own profile page labels that address “Kimchi.” That name belongs to a trader who had just been announced as a Pump.fun collaborator on creative direction.
How the launch unfolded
$KIMCHI went live on October 20, 2026, at approximately 23:00 UTC. The token also goes by a second name, “Aura Final Boss.”
The deployer used an anonymous wallet with a track record of launching similar tokens. In the very first transaction, that wallet scooped up about 79.3% of the one billion token supply.
The cost was roughly 87 SOL, worth somewhere between $9,000 and $9,300.
Minutes after launch, 750 million tokens, or 75% of the supply, landed in the address labeled “Kimchi.” At the same time, the deployer named that address the fixed, unchangeable recipient of every creator fee the coin generates.
Then came the rally. Promotion tied to the trader Kimchi helped push the token’s market cap to approximately $40 million within its first hour.
On-chain analysis indicated the deployer sold most of its remaining tokens after launch. Its estimated profit came to about $26,000. Early sniping wallets reportedly walked away with even more.
Why the fee setup matters
Creator fees are Pump.fun’s way of paying whoever launches a token. On the bonding curve, the creator fee sits at 0.30% of trading volume. Once a token graduates to a PumpSwap pool, the fee ranges from 0.05% to 0.95%, depending on which market-cap tier the token occupies.
What makes $KIMCHI unusual is the permanence. The deployer did not keep the fee stream or retain the option to redirect it later. Instead, every future fee flows to the one address, with no way to reassign it.
The arrangement concentrates both a large token balance and an ongoing revenue stream in a single wallet.
The influencer playbook on Solana
The address carries the Kimchi label on Pump.fun’s profile page. The source material does not establish whether the trader set up the token, endorsed it, or controls the wallet.
What this means for traders and the platform
One address holding 75% of supply can move the price dramatically if it ever decides to sell.
Fee recipients earn from activity, not from price direction. A wallet collecting a cut of every trade profits from volatility in both directions, which can sit awkwardly beside holders who only win when the price rises.
The deployer turned roughly $9,300 into an estimated $26,000 profit, and snipers reportedly did better. Those gains came from being first to a bonding curve.
Watch the Kimchi-labeled address closely. Its 750 million tokens and its permanent claim on creator fees make it the single most important wallet in the $KIMCHI economy.
Also watch whether the token graduates to a PumpSwap pool and which fee tier it lands in. That will determine how much the fixed recipient collects as trading continues.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Anson Funds za posledních 18 měsíců investoval 1 miliardu USD do společností, které drží bitcoin ve své rozvaze. Jeho spoluzakladatel Moez Kassam tvrdí, že institucionální přijetí zásadně změnilo budoucnost bitcoinu.
As discussions continue in the cryptocurrency market regarding the future of Bitcoin (BTC), Moez Kassam, co-founder and investment director of Anson Funds, which manages billions of dollars in assets, has made noteworthy statements. The renowned investor argued that Bitcoin is no longer a temporary speculative tool and that institutional adoption has significantly changed the future of BTC.
Appearing on Anthony Pompliano’s podcast, Kassam explained how his perspective on Bitcoin has changed over the years.
Kassam stated that he initially viewed Bitcoin only in terms of investment opportunities and corporate deals, but over time he came to believe in the fundamental value of the cryptocurrency.
Kassam noted that Bitcoin was historically associated more with anonymity and the underground economy, but today it has transformed into an investment ecosystem that includes major financial institutions.
The renowned investor stated, “Previously, I was only interested in investment deals. Now I believe Bitcoin has an intrinsic value and is here to stay.”
Kassam noted that Bitcoin has experienced many sharp price movements and market cycles over the years, but despite this, a strong investor community has formed that continues to support the cryptocurrency.
According to Kassam, the adoption of Bitcoin by large financial institutions in particular, and their inclusion in investment platforms, has significantly differentiated the cryptocurrency market from the past.
Speaking about Anson Funds’ activities in the Bitcoin market, Kassam revealed that his fund has provided a total of $1 billion in capital to companies holding Bitcoin on their balance sheets over the past 18 months.
The investor stated that they manage assets worth approximately $2.5 to $3 billion, and that these investments are made through various structures such as stocks and convertible finance instruments.
However, Kassam added that he does not have a positive view of all Bitcoin treasury companies.
Kassam argued that the adoption of the institutional Bitcoin accumulation model, popularized by Strategy, by numerous companies is increasingly reducing investment opportunities, noting that early adopters have gained a significant advantage.
The renowned investor stated that many companies that have recently entered the market are driven by the expectation of quick profits, and that this poses a risk for investors.
Kassam also stated that they see opportunities in the preferred shares of Strive, a Bitcoin-focused investment company. The investor noted that these financing instruments offer approximately a 15% return, explaining that institutional investors can profit from the price difference by purchasing these instruments at discounted prices.
Kassam also touched upon market expectations regarding Bitcoin’s future performance, stating that some investors predict a 30% to 50% increase in their financial models for the next year. However, he did not present these predictions as his own definitive price target.
*This is not investment advice.
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DBS Bank, a leading financial institution in Southeast Asia, has identified the XRP ecosystem as one of the most effective frameworks for bridging digital assets with traditional payment flows. This recognition comes as both private sector and network initiatives accelerate efforts to improve institutional settlement processes across borders.
SWIFT’s real-time ledger and industry collaborationSWIFT has introduced a real-time ledger to record, order, and verify transactions. Unlike some decentralized projects, SWIFT’s model finalizes settlements using traditional banking infrastructure, maintaining existing compliance and risk protocols.
This system now supports the first live use case: 24/7 cross-border payments with bank-issued tokenized deposits. Major global banks such as DBS, BNP Paribas, HSBC, Citi, and Standard Chartered are early participants. The initiative advanced from concept to operational testing within a year.
Developers structured the SWIFT ledger to enable constant connectivity between traditional banking and digital asset networks. Direct settlement of digital assets is not handled by SWIFT; instead, the network supplies an orchestration layer that lets banks operate under current financial regulations.
Feedback from over 40 financial institutions is expected to shape future features, aiming to improve interoperability and efficiency in global payments.
Mini dictionary: SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is a global messaging network that enables secure communication between banks and financial institutions, especially for cross-border payments. Its system is widely used for international fund transfers and compliance management.
Focus on interoperability and complianceDBS Bank explained that the SWIFT ledger unifies tokenized deposits, digital assets, and international payments to create a more seamless client experience. The approach maintains crucial features of correspondent banking, such as the ISO 20022 compliance framework, while improving liquidity transparency and round-the-clock operational capability.
Rather than replacing existing systems, the focus remains on building bridges between current payment rails and emerging digital networks. This strategy supports ongoing regulatory requirements while enabling new technological capabilities.
DBS Bank emphasized that connecting tokenized deposits and digital assets to international payments presents opportunities for smoother transactions and improved client service, without compromising established compliance standards.
XRP Ledger’s role in institutional settlementThe XRP Ledger, developed to facilitate efficient cross-border settlements, continues to prioritize interoperability with the established financial system. Its advocates argue that reducing friction between traditional banking and on-chain settlements is vital for digital asset adoption among institutions.
SWIFT’s current solution supports only bank-controlled tokenized deposits, while the XRP Ledger operates as a public blockchain focused on broader asset transfers.
NetworkSettlement AssetUse CaseParticipantsSWIFT LedgerTokenized deposits24/7 cross-border banking payments40+ global banksXRP LedgerXRP, digital assetsOn-chain settlement, interoperabilityPublic and private institutionsIndustry observers expect hybrid models to emerge, with both SWIFT’s orchestrated approach and public ledgers like the XRP Ledger evolving based on market demand and regulatory feedback.
Ongoing collaboration between traditional institutions and blockchain developers is expected to influence the broader adoption of tokenized deposits and digital assets, especially as regulated channels seek innovative solutions for international settlement.
Integrating established payment infrastructure with new digital networks is seen as critical to supporting the seamless movement of value worldwide, with tokenization acting as a key enabler in regulated environments.
Kalshi has partnered with BitGo to offer Bitcoin and Ethereum-backed loans, allowing eligible institutional traders to fund leveraged perpetual futures positions while retaining ownership of their existing cryptocurrency holdings.
Kalshi and BitGo Introduce Crypto-Backed Futures Loans
The partnership will allow eligible traders to leverage their investment in Kalshi’s perpetual futures contracts with borrowed money. The deal provides for investors to hold onto their cryptocurrencies while lending to take advantage of a leveraged position on the exchange.
Kalshi Katalyst, the lending affiliate of Kalshi Prime, will provide loans under the new arrangement. BitGo Bank & Trust will act as the middleman in a three-party arrangement to keep the staked digital assets.
According to Kalshi Prime CEO Jeff Bandman, eligible collateral includes Bitcoin, Ethereum, and GENIUS Act-compliant stablecoins. The company is planning to add more custody partners as its lending network grows.
The agreement is based on BitGo’s current institutional cryptocurrency custody services. A recent report has reviewed BitGo’s digital asset infrastructure, including their institutional clients and custody operations.
Kalshi Targets Institutional Traders Holding Bitcoin
The service is aimed at investors who want to gain exposure to futures trading without selling their current crypto assets, Bandman said.
“What we wanted to do was make it possible for customers to stay in crypto,” Bandman said.
He identified large Bitcoin holders and Latin American businesses using dollar-backed stablecoins as potential customers.
The executive indicated that another group of target investors are crypto-native traders who are using offshore perpetual futures platforms. Kalshi believes the deal will appeal to people who prefer trading platforms based on the blockchain.
The development comes from Kalshi’s expansion into cryptocurrency perpetual futures, which it has done since earlier this year. In September, Kalshi launched more crypto perpetual futures, such as the BNB, ADA, and AAVE versions.
Kalshi Expands Regulated Futures Trading Services
Kalshi’s perpetual futures unit is run under a trading system regulated by the Commodity Futures Trading Commission. In June, the exchange launched BTC perpetual futures trading, and it has since expanded into metals and other financial contracts.
Perpetual futures are futures contracts with no expiration date, which means that traders can hold positions while satisfying the margin requirements.
Separately, Kalshi Klear requested CFTC approval in September to introduce margin trading for selected prediction-market contracts. The company has applied for regulatory approval of perpetuals based on oil and U.S. equity products.
Two Texas-area names you probably haven’t heard of just did something most big banks are still writing white papers about. Vantage Bank and Rio Bank completed a loan payment between themselves using tokenized deposits on Ethereum.
According to Participate, the platform that handled the deal, the principal and interest landed in the receiving bank’s digital wallet in under three minutes. Loan balances and payment notices updated in the same motion as the money moved.
What actually happened The transaction took place on October 19, 2026. It was framed as the world’s first interbank loan participation or syndication principal-and-interest payment made with tokenized deposits.
In a loan participation, one bank makes a loan and sells slices of it to other banks. When the borrower pays, the lead bank has to pass each participant its share of principal and interest.
The payment ran through two pieces of infrastructure. The first was Participate’s loan-sales platform, which connects banks buying and selling loan interests. The second was the Hazel Network, which Vantage Bank built alongside Custodia Bank.
The settlement itself happened on the Ethereum mainnet. That’s the public blockchain, not a private sandbox or a walled-off test chain.
Custodia’s ERC-20 token, called Avit, was part of the setup. ERC-20 is the standard format for fungible tokens on Ethereum, the same template behind a large share of the tokens issued on that network.
Matt Johnner of Participate described the payment as a practical demonstration of tokenized deposits slotting into workflows banks already run. He positioned it as a key step toward automating interbank loan servicing.
How we got here This didn’t appear out of nowhere. Vantage and Custodia have been testing tokenized deposits since March 2025, which means roughly a year and a half of trial runs before this live payment.
The more recent chapter began in April 2026. That’s when Participate, Vantage Bank and Custodia Bank announced a strategic collaboration to plug Hazel Network capabilities into Participate’s ecosystem.
That ecosystem now includes more than 750 banks. So the rails used here sit on a network that already reaches hundreds of potential counterparties, at least in principle.
A tokenized deposit is a regular bank deposit represented as a token on a blockchain. It remains a claim on the issuing bank, inside the regulated banking system.
Why it matters The headline number is the three minutes, but the more interesting detail is that records updated alongside the payment. In loan servicing, moving cash is only half the job. Someone also has to update balances, send notices and confirm everyone agrees on who owns what. Bundling them into one on-chain event is the efficiency argument for tokenization in a nutshell.
The partners also stressed that the transaction stayed within banking compliance requirements.
For the crypto industry, the choice of Ethereum mainnet stands out. Traditional institutions have often preferred permissioned networks where they control who participates. Running a regulated bank-to-bank payment on a public chain is a vote of confidence in its reliability for this kind of use.
Custodia’s role is notable too. The Wyoming-chartered bank has spent years positioning itself at the intersection of crypto and traditional banking. A live interbank payment using its Avit token gives that positioning a concrete use case rather than a pitch deck.
Wider adoption would require more banks willing to hold tokenized deposits, connect to the Hazel Network and get comfortable with on-chain settlement from a risk and compliance standpoint.
Interoperability is another thing to watch. If other banks build competing tokenized deposit systems, the value of near-instant settlement depends on whether those systems can talk to each other.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Vývojáři Zcash navrhli pro cross-chain swapy jednorázové příchozí klíče pro prohlížení, které mají omezit budoucí kvantové propojování plateb téhož uživatele.
Zcash developers are advancing a targeted privacy enhancement to shield ZEC swap activity from potential future quantum computing risks. The team behind Zakura, a full-node implementation of the Zcash network, has detailed an approach that assigns a unique incoming viewing key to every publicly exposed address used in cross-chain swaps, particularly those routed through NEAR Intents.
This measure addresses a specific vulnerability that could otherwise allow a powerful quantum adversary to connect multiple payments belonging to the same user.
Under normal conditions, Zcash’s shielded transactions already maintain strong privacy properties against classical computers and even quantum ones in many everyday scenarios.
Payments are encrypted in a way that does not place sensitive key material on the blockchain itself.
However, when a shielded address must be published on another chain—as occurs with refund addresses for failed or partial NEAR Intents swaps, or recipient addresses for inbound swaps—that exposure creates a lasting record.
A sufficiently advanced quantum computer employing Shor’s algorithm could, in theory, recover the shared incoming viewing key associated with that address.
Once obtained, the key would reveal the values and memos of every payment ever received by the same Zcash account, effectively linking them together.
The concern falls under the broader “harvest now, decrypt later” threat model, in which public data collected today might be decrypted years from now if quantum capabilities mature.
Rather than requiring users to spin up entirely new accounts for each swap—an approach that creates practical friction for hardware wallets such as Keystone (limited to a single account index) and Ledger (requiring separate transaction approvals)—the Zakura design keeps the core spending key unchanged.
It only varies the randomness used when deriving the incoming viewing key. Each swap therefore receives its own distinct viewing key and corresponding address.
An attacker who later breaks one published address learns only the payments tied to that specific swap; linking it back to the user’s main account would require inverting a hash-based derivation, which remains infeasible even for a quantum computer.
Spending authority stays centralized with the original account key, so funds remain easily accessible.
To keep wallet recovery efficient as the number of one-time keys grows, the system relies on private information retrieval.
Because NEAR bridge transactions on Zcash use a uniform outgoing viewing key, an index can be built that maps addresses to the relevant transactions.
Restored wallets check compact filters first, then privately query the index without revealing which addresses they control.
Encrypted notes left to the user during outgoing swaps record the derivation index, enabling precise reconstruction. Inbound swaps follow a sequential filter-checking process.
Compatible software wallets built on Zakura’s open-source libraries, including Vizor, are expected to support the feature within weeks, with hardware-wallet firmware updates to follow.
No quantum computer capable of recovering these keys has been demonstrated.
The change is designed as a deployable interim step ahead of longer-term post-quantum work such as the Tachyon project and related network upgrades. By isolating exposure to individual swaps without sacrificing usability, the proposal aims to extend practical privacy for ZEC users who interact with cross-chain services.
Aave V4 na síti Base vede trh DeFi s tokenizovanými akciemi od Coinbase: vklady dosáhly 10,1 milionu USD, což představuje 53 % z celkových 18,9 milionu USD.
Aave V4 has taken the lead among decentralized finance platforms for Coinbase-issued tokenized stocks on the Base network, with deposits reaching $10.1 million. Token Terminal data shows that Aave controls approximately 53% of the total value locked (TVL) for this market segment, which currently stands at $18.9 million across DeFi venues.
Tokenized equities drive surge in DeFi collateralThe Equities Hub in Aave V4, operating on Base, enables eligible users to leverage tokenized versions of major U.S. company stocks as collateral to borrow USDC. Currently, the platform supports tokenized shares of Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla, all issued by Coinbase, a leading cryptocurrency exchange based in the United States.
By integrating Chainlink price feeds, Aave ensures accurate valuation of these collateral assets. At this stage, the tokenized equities can only be used as collateral and are not available to be borrowed directly from the platform. This arrangement provides stablecoin liquidity to users while maintaining exposure to their tokenized stock holdings. Token Terminal places Aave’s share at $10.1 million out of the total $18.9 million deposited across DeFi protocols for Coinbase-issued tokenized stocks on Base, giving it the largest share among its competitors.
Mini dictionary: Token Terminal is a data analytics platform that tracks financial and usage metrics for decentralized protocols. It serves as a reference for investors and market participants assessing DeFi activity and trends.
These totals highlight Aave’s strong position in the new market for tokenized-equity collateral. However, the share only reflects deposits for tokenized stocks, and does not represent Aave’s overall market share in decentralized lending.
Aave expands access to USDC liquidityThe increase in tokenized equity deposits underscores the connection that is forming between traditional financial markets and decentralized lending platforms. By allowing users to deposit tokenized stock as collateral, Aave expands avenues for participants to access USDC liquidity on-chain, without selling their holdings outright.
This functionality is designed to attract investors who want to interact with blockchain-based versions of established equities within DeFi ecosystems. At the same time, the addition of these assets broadens the scope of collateral supported on Aave and may encourage greater engagement among users looking for diversified lending opportunities.
A growing number of deposits and borrowing activity on Aave could hint at rising demand for these financial instruments. Still, TVL alone does not provide a full picture of the revenue or adoption rate for the Equities Hub. The potential for continued adoption will depend on the appeal of tokenized stocks and the growth of the ecosystem on Base.
AAVE price analysis: Support and resistance zones in focusAlongside the growth of tokenized stock deposits, AAVE’s token price is currently testing a key support band. Market analyst Crypto With Gopal identified a potential double-bottom pattern for AAVE at the $147-$148 range. This formation typically signals attempts by buyers to defend a price level following a period of decline.
The resistance level between $165 and $166 has emerged as the neckline for this technical pattern. For a trend reversal to be confirmed, AAVE’s price would have to break above this resistance. Should such a move occur, Gopal projects potential upside targets in the $185-$190 region. However, these targets only become relevant if the price action confirms a decisive breakout.
LevelTypeValue ($)SupportDouble Bottom Zone147-148ResistanceNeckline165-166TargetPost-Breakout185-190A drop below the $147-$148 support would weaken the likelihood of a successful reversal, while rejection at the $165-$166 resistance would leave the double-bottom scenario unconfirmed. Whether buyers can maintain momentum above support and break through resistance will likely determine AAVE’s short-term price direction.
Crypto With Gopal points to a double-bottom pattern forming at the $147-$148 level. If AAVE breaks through the resistance band at $165-$166, targets move to the $185-$190 area. Confirmation depends on sustained buying above support and a clear move above resistance.
Beyond technical signals, factors such as ongoing demand for tokenized equities and broader DeFi market trends will also influence price action. Increased adoption of Aave’s Equities Hub could serve as evidence of its strengthening role in the Base network.
Solana replaced TowerBFT with Alpenglow on its mainnet on October 21, in its most significant consensus change since launch. The new protocol targets a finality close to 150 milliseconds, compared to about 12.8 seconds previously, but part of the planned architecture is still to be deployed.
In Brief
Solana activated Alpenglow on October 21, replacing TowerBFT on its mainnet.
The new consensus targets a finality of 150 milliseconds, compared to 12.8 seconds previously.
The transition occurred without a network-wide outage, with participation from 654 validators.
The Votor mechanism speeds block validation through new voting procedures and BLS signatures.
Alpenglow promises faster final transactions and better fault tolerance.
Alpenglow Replaces TowerBFT on the Mainnet
The activation began at the start of epoch 1064. However, the network retained TowerBFT for the first 5000 slots of this epoch, about 18 minutes, to prepare the transition to the new system.
The transition completed at slot 459653000. The validators then formed the cryptographic certificate marking the birth of the Alpenglow consensus. Anza, the lead developer of the Agave client, described this operation as the “greatest upgrade in Solana’s history”.
The key elements of the activation illustrate the magnitude of the change :
Alpenglow replaces the TowerBFT consensus used since Solana’s inception ;
The targeted finality goes from 12.8 seconds to about 150 milliseconds ;
654 validators participated in the transition ;
The switch from one consensus to the other lasted about 900 milliseconds ;
Validator votes are no longer recorded as on-chain transactions ;
BLS signatures allow multiple votes to be aggregated into a single certificate ;
Each admitted validator must pay a ticket of 0.8 SOL per epoch.
The transfer occurred without a full network halt. During the critical phase, blocks temporarily stopped including user transactions and carried only the necessary votes. This precaution was to allow a rollback without invalidating a user-signed operation.
Once the genesis certificate was formed, nodes handed the consensus over to the new Votor algorithm. Transactions then resumed under the Alpenglow regime.
Votor Dramatically Reduces Final Confirmation Delay
The consensus allows validators to agree on the order of transactions and when a block can no longer be reverted. With TowerBFT, Solana produced blocks quickly, but their full finality required about 12.8 seconds.
Votor uses two voting procedures in parallel. The first can finalize a block in one round when 80% of tokens staked staking respond. The second can conclude after two rounds with 60% participation. The protocol adopts the path that finishes first.
Votes are no longer recorded as ordinary transactions. Validators exchange signed messages directly via the BLS system. Multiple signatures can then be aggregated into a compact certificate, freeing block space for user operations.
Alpenglow also targets better fault tolerance. Its design allows simultaneous tolerance of 20% of tokens staked on offline validators and 20% on hostile actors. TowerBFT relied on a limit of less than one-third malicious participation.
For users, the expected effect mainly concerns payments, decentralized exchanges, and applications demanding quick certainty. A finality near 150 milliseconds would reduce the wait before an operation is considered irreversible. However, this gain doesn’t mean all applications will respond that fast, as their interfaces, servers, and controls add their own delays.
Part of the Upgrade Is Still to Come
The activation on October 21 mainly concerns Votor, the new consensus mechanism. It does not yet deploy all the components described in the Alpenglow project.
Rotor, the future block propagation system, is set to replace Turbine in a later phase. It plans to distribute data shards via a single relay and to use the network’s full bandwidth. Its activation schedule is not yet set.
The economic operation of validators is also changing. Off-chain votes remove the old fees paid for each vote transaction. Instead, the protocol charges a validation ticket of 0.8 SOL per epoch on the vote account. An operator lacking the required amount cannot vote or produce blocks during the following epoch.
The comparison with Ethereum’s “The Merge” mainly illustrates the technical significance of the change. Ethereum abandoned proof-of-work for proof-of-stake in 2022. Solana keeps its general model but directly replaces the engine organizing agreement among its validators.
The coming weeks will verify whether the observed finality remains near 150 milliseconds during high activity periods. Network stability, validator participation, and the future deployment of Rotor will determine if Alpenglow lives up to its promises.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
SkyAI po prodeji celé rezervy SOL zahájila nabídku na odkup akcií v hodnotě až 201,3 mil. USD za 3 USD za akcii. Bastion Trading požaduje vyšší cenu a vysvětlení postupu představenstva.
SkyAI (Nasdaq: SKYA) began paying out its own cash on October 16, opening a tender offer that would return up to $201.3 million to stockholders at $3.00 a share — a price the company says equals roughly 0.95 times its net asset value. Two days after the offer documents landed, its largest outside stockholder, Bastion Trading, put the entire process under a governance challenge, demanding that the board explain how a company that told shareholders it “reaffirms its commitment to its Solana DAT strategy” in September had sold its entire SOL treasury within a month and was now returning the cash at a discount to the company’s own stated value.
The tender offer was disclosed in the company’s tender offer announcement on October 19, and Bastion Trading’s escalation followed in its own public statement on October 21. What makes the situation unusual is not that a company is returning capital. It is the speed of the pivot. Four days before its annual meeting, SkyAI said it held more than two million SOL. A month later, it held none.
The Offer Is Live: $3.00, a 95% Cap, and a $22.5 Million Residual The tender offer seeks up to 95% of each class of SkyAI’s outstanding securities at $3.00 apiece: 48,311,489 common shares, 4,880,734 cash pre-funded warrants, 9,939,850 cryptocurrency pre-funded warrants, and 3,955,293 strategic warrants — 67,087,366 securities in total. Warrants are purchased at $3.00 less their $0.0001 exercise price, or $2.9999 each. The offer expires at one minute after 11:59 p.m. New York City time on October 29, unless extended or terminated.
SkyAI said it held approximately $223.8 million in cash as of October 16 and has completed the sale of all of its SOL. Because it no longer holds any SOL, the offer is not conditioned on SOL’s price — a condition the company had initially expected to include when it announced the offer on October 11. “The Offer is not subject to a financing condition and does not require any borrowing,” the company wrote. If fully subscribed, the aggregate purchase price is about $201.3 million.
The arithmetic is straightforward. A fully subscribed tender at $201.3 million against $223.8 million of cash leaves roughly $22.5 million on the balance sheet before transaction fees and expenses — about 90% of the disclosed cash balance would leave the company in a single transaction. Each class also carries its own minimum tender condition: at least 50% of the shares sought must be tendered, at least 50% of the two pre-funded warrant classes combined, and at least 50% of the strategic warrants. If more than 95% of a class is tendered, purchases are made pro rata within that class.
From “Reaffirms Its Commitment” to Zero SOL in a Month SkyAI was known until recently as Sharps Technology, a medical-device maker that pivoted into one of the more aggressive corporate Solana treasuries. In 2025 the company was marketing a treasury it sized at roughly $400 million, built with Coinbase’s collaboration.
The reversal came quickly. On September 14, 2026, four days before its annual meeting, the company’s proxy material said it “reaffirms its commitment to its Solana DAT strategy” and continued to hold more than two million SOL, according to Bastion Trading’s recitation of the Schedule 14A. On October 11, SkyAI announced the buyback and said its board had rejected the latest all-stock takeover proposal from Forward Industries as undervaluing the company. On October 14, Bastion issued its first public challenge — which BlockchainReporter covered at the time as Bastion’s demand for a higher tender price and a board reset — after flagging that most of the SOL had already been sold. By October 16, the tender offer was open and the SOL was entirely gone.
Bastion’s Math: A $3.30 NAV, a $3.50 Ask, and an $11.9 Million Warrant Question Bastion Trading, which with affiliates beneficially owns about 9.99% of SkyAI’s common stock, wants the price raised from $3.00 to at least $3.50 per share or warrant. Its stated basis is a net asset value of roughly $3.30 per share, calculated — in the firm’s own words — as “(market value of SOL holdings + cash and cash equivalents – total liabilities) / fully diluted share count,” based on an assumed SOL price of $110 per token.
The more pointed demand concerns the strategic warrants. Bastion said those warrants were granted without any cash consideration to Sol Markets, an entity controlled by James Zhang, the brother of SkyAI director and Chief Investment Officer Alice Zhang. “By our calculation, those warrants could receive up to approximately $11.9 million in the Tender Offer,” Bastion wrote.
Bastion also flagged a related relationship: Sol Edge Limited, another James Zhang-controlled entity, has already received “substantial compensation” under a 20-year consulting agreement, including a $10 million upfront payment, according to the company’s Form 10-K. Bastion’s position is that allowing this insider-related party to monetize warrants through a tender funded by the sale of the company’s core treasury asset would be “fundamentally unfair.”
The firm’s language is blunt. “Directors are not elected merely to rubber-stamp management’s decisions,” Bastion wrote. “Their fiduciary duties require them to exercise independent judgment and oversight, challenge potential conflicts and protect stockholders’ interests.” It is demanding that Executive Chairman Paul K. Danner III and directors Soren Bo Christiansen, Timothy J. Ruemler and Jason L. Monroe publicly explain their roles, or resign — and it wants the strategic advisor warrants excluded from the offer entirely, plus a special stockholder meeting if the board cannot demonstrate accountability.
What the $3.00 Price Actually Values SkyAI’s own footnote frames the price as a multiple of net cash. The company defines mNAV as the $3.00 purchase price multiplied by roughly 70.6 million shares and warrants outstanding, divided by net cash of about $223.8 million. That works out to $211.8 million of implied value against $223.8 million of cash — a multiple of about 0.946, which is the “approximately 0.95x” the company cites.
In other words, a stockholder tendering at $3.00 accepts roughly 95 cents on the dollar of the company’s stated cash value, while the strategic warrants Bastion wants excluded would absorb about $11.9 million of the payout — close to 6% of the full $201.3 million offer. The gap between the two positions is a single number: SkyAI’s $3.00 sits about 9% below the $3.30 NAV Bastion computes, while Bastion’s $3.50 ask sits about 6% above it, a 16.7% difference over whether the company should pay out at a discount to cash or a premium above NAV.
The Countercase: Why the Board Says the Offer Works SkyAI’s framing is that the offer is clean and funded. The board approved it unanimously, and the company notes the offer carries no financing condition, requires no borrowing, and leaves the common stock listed on the Nasdaq Capital Market. The company also makes no recommendation on whether holders should tender, leaving the decision to each stockholder.
There is a narrower defense embedded in the structure. The minimum tender conditions mean the offer only closes if a meaningful share of each class participates, and the pro-rata mechanics cap any single class at 95%. A company returning cash at a discount to NAV is not automatically destructive: if the board believes the remaining business is worth less than the cash it holds, returning capital at 95 cents on the dollar can still exceed what the market would otherwise offer.
What the board has not yet provided is the independent analysis Bastion is asking for. The offer documents disclose no financial advisor, valuation, or fairness opinion — a point Bastion leans on directly — and the company has not separately responded to the October 21 statement. That silence, more than the $3.00 price itself, is where the governance risk sits.
What Decides This Between Now and October 29 The tender offer runs to October 29, and the practical questions are now concrete. Whether the 50% minimum conditions are met will determine whether any payout happens at all. Whether the strategic advisor warrants are excluded — and whether SkyAI responds to Bastion’s demand for director-level disclosure — will determine whether the governance fight stays in the filings or moves to a stockholder vote.
For a company that spent a year marketing itself as a Solana treasury, the liquidation itself is now settled; the capital return is the open question. The $3.00 price, the $11.9 million in strategic warrants, and the absence of a fairness opinion are the three numbers that will decide whether this is remembered as a clean exit or a contested one. SkyAI’s board has not answered. The next filing will show whether it intends to.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
SHIB v roce 2026 získal 150 017 nových držitelů, čímž jejich počet k 19. říjnu vzrostl na 1 698 647. Burzovní zůstatky však za 24 hodin vzrostly o 3,11 % na 449,6 mil. USD, což signalizuje prodejní tlak.
Shiba Inu’s [SHIB] holder base grew significantly in 2026. Reportedly, SHIB saw an additional 150,017 on-chain holders, bringing its total to 1,698,647 by the 19th of October.
In fact, the figure reflected a significant growth from the 1,548,630 holders recorded at the beginning of the year 2026. Additionally, SHIB also attracted attention following developments surrounding T. Rowe Price’s proposed multi-asset cryptocurrency ETF.
In particular, the proposed fund identified SHIB among the crypto assets eligible for potential exposure, offering another possible avenue for institutional participation.
Here, it is worth noting that the filing, however, did not confirm actual SHIB holdings or establish a dedicated spot ETF. Both developments nevertheless highlighted SHIB’s growing reach across both the retail and potential institutional markets.
Source: X
Alongside the improving token adoption, SHIB continued decreasing its circulating supply through its token-burning mechanism. According to Shibburn on X, the network reportedly burned 111,395 SHIB across two transactions during the 24-hour period.
The seven-day total meanwhile had reached 81,765,038 SHIB, highlighting a continued burning activity over a longer period.
Notably, the cumulative burns totaled approximately 410.85 trillion SHIB, representing a significant portion of the token’s original supply.
Rising reserves expose persistent selling pressure
Shiba Inu‘s Exchange Reserves surged as spot trading activity continued favoring sellers, despite the expanding adoption.
CryptoQuant reported the memecoin’s Exchange Reserve USD climbing 3.11% in 24 hours to $449.6 million as of writing, reflecting greater exchange-held token value.
This increase implied potentially greater selling availability, even though USD-denominated reserves also reflected valuation changes. The Spot Taker CVD additionally remained seller-dominant, which suggested a stronger aggressive selling than buying activity.
These indicators combined highlighted persistent selling pressure despite the improving adoption figures of the memecoin. Such conditions therefore placed greater significance on the token’s ability to defend its immediate technical support.
Source: SHIBA INU Exchange Reserve USD on CryptoQuant
Can SHIB defend its critical weekly support?
At the time of reporting, SHIB traded around $0.00000511 after struggling to sustain its weekly recovery towards the $0.0000060 resistance region. Subsequently, the price rejection pushed the memecoin toward the $0.0000050 support, where buyers had previously defended this support region.
Meanwhile, the CMF indicator showed an improvement toward neutrality, reaching -0.01 as pressure around capital outflow eased. On the contrary, the Stochastic RSI highlighted weakening bullish strength. A bearish crossover emerged after the indicator’s recent overbought conditions, raising concerns about another potential price decline.
Moreover, SHIB would need to maintain the $0.0000050 support, before another recovery toward $0.0000060 becomes possible. Alternatively, losing this key support would expose the $0.00000413 level, particularly in case the spot sellers keep maintaining control.
Source: SHIB/USDT Chart on TradingView
Final Summary
SHIB added 150,017 holders as proposed ETF exposure opened potential institutional opportunities.
Rising exchange reserves and persistent spot selling could threaten SHIB’s $0.0000050 support.
Convex Finance za poslední den vzrostl o 22 %; počet držitelů tokenu CVX dosáhl rekordu 32 410 a celková uzamčená hodnota (TVL) mezi 15. a 21. říjnem stoupla zhruba o 30 milionů USD.
Convex Finance [CVX] rallied significantly in the past day. The asset reached this level following a 22% increase in value to $260 million, while trading volume came closer to $26.66 million.
The gain followed an inflow of capital into CVX’s on-chain market, alongside a surge in the number of holders. Perpetual market activity also shows that traders are positioning for a possible upward rally.
CVX holders and income reach new highs In the past day, as CVX surged, there was a clear increase in the number of token holders, who reached an all-time high of 32,410. Between the 12th and the 21st of October, the number of CVX holders increased significantly, with 500 new holders added to the market.
Source: DeFiLlama A surge in the number of holders often indicates an inflow of capital into the asset. Another contributing factor has been Token Holder Income, which has performed relatively well since the start of October.
Roughly $499,000 has already been paid to Convex Finance holders this month.
Source: DeFiLlama On-chain activity supports CVX’s rally A surge in on-chain capital flow has helped support CVX’s price performance.
Total Value Locked (TVL), which tracks the value of capital deposited in a protocol, has gradually increased over the past couple of days. Between the 15th and the 21st of October, TVL surged by roughly $30 million, according to data available at press time.
A surge in TVL implies that investors are likely depositing more capital into the protocol because they anticipate that the asset will continue to perform well in the near term.
Source: DeFiLlama Likewise, there have been notable spikes in the fees generated by the protocol during this period, pointing to growing platform usage.
Within the same period as the TVL increase, fees generated rose from $25,626 to roughly $137,430 at the latest count, according to DeFiLlama. Growing activity and increased adoption of the asset add to its bullish market performance.
Positive Funding Rate backs bullish outlook Perpetual market activity reflects the same bullish outlook, with CVX’s Funding Rate remaining positive at 0.021%.
A positive Funding Rate indicates that long traders are paying funding fees to maintain their positions relative to short traders in the perpetual market.
Source: CoinGlass Typically, this occurs when traders expect the price to continue moving in the direction of the prevailing trend, which, in this case, is bullish.
A continued positive Funding Rate would imply that the asset is likely to maintain its bullish stance in the near term.
Final Summary Convex Finance rallied as token holders reached an all-time high of 32,410, with Token Holder Income hitting roughly $499,000 this month.
CVX’s TVL increased by $30 million, while protocol fees rose to $137,430, and the Funding Rate remained positive at 0.0021%.
SBI XDC Network APAC, SBI VC Trade a Shinhan Card podepsaly nezávazné memorandum o testování přeshraničních stablecoinových plateb a využití stablecoinu denominovaného v jenech v obchodech.
SBI XDC Network APAC and SBI VC Trade signed an MOU with Shinhan Card to explore stablecoin cross-border payments and yen stablecoin in-store use, with $XDC Network in focus.
SBI XDC Network APAC (@sbixdc) and SBI VC Trade (@sbivc_official), the group's licensed crypto exchange, have signed a non-binding memorandum of understanding (MOU) with Shinhan Card. The three companies will look at stablecoins for cross-border payments and explore linking a Japanese yen stablecoin to in-store payments, with test runs planned to check commercial viability.
What the MOU coversThe agreement is described as a phased collaboration across payment services, settlement solutions and blockchain infrastructure. according to FX News Group.
Shinhan Card is the card arm of Shinhan Financial Group. In its filings, That is consistent with the roughly 20 million card members cited in the announcement.
Reports on the agreement say the pilots could cover several use cases.
XDC Network and the wider pushBeyond payments, the deal touches the blockchain itself. @XDCNetwork is the chain behind $XDC. All three companies also plan to expand into cross-border trade settlement.
The timing fits a broader pattern at Shinhan. On the Japanese side,
Because the MOU is non-binding and no stablecoin type or launch timeline has been confirmed, the practical impact on $XDC and on cross-border payments between the two countries will depend on how the trials perform.
Sources:
FX News Group: SBI XDC Network APAC, SBI VC Trade sign MoU with Shinhan CardBitbase: Shinhan Card and SBI to pilot yen stablecoin paymentsShinhan Financial Group 6-K filing summary on Shinhan Card 2025 results
21 October 2026 | 18:52 Arbitrum (ARB) is up more than 5% on Wednesday, trading near $0.198 as buyers bounce from a three-layer support band and extend a break of its October downtrend.
KEY TAKEAWAYS
→ 50-day SMA and 0.382 Fib meet near $0.186.
→ Rallies keep stalling near $0.205 since mid-October.
→ RSI climbs back above its 50 midpoint.
→ ARB trades 22% below September’s $0.255 high.
On the ARB daily chart from TradingView, the rebound leaves the token about 169% above its mid-August low near $0.073.
From the September peak to an October base ARB’s August rally added nearly 250% before topping out in late September. The slide that followed broke the rising channel the token had tracked since late August, and on October 8 a wick reached the 0.5 Fib near $0.164 before buyers stepped in.
Arbitrum daily price chart. Source: TradingView ARB then spent two weeks building a base between roughly $0.17 and $0.20. Over the past few sessions it has pushed through the descending trendline from the September high, and Wednesday’s green candle extends that break.
Support stacks up just below the price The retracement found its footing at the 0.382 Fibonacci level of the August rally, and the 50-day SMA has climbed to almost the exact same price. The broken downtrend line now sits just underneath both. With three lines packed into a band less than a cent wide, this is the level buyers most need to hold.
Support band near $0.18–$0.186 0.382 Fib ~$0.186 50-day SMA ~$0.186 Former downtrend line ~$0.18 Resistance starts at $0.205 The top of the October base near $0.205 has turned back at least three rallies since mid-October, including Tuesday’s.
A little higher, the 0.236 Fib near $0.212 sits about 7% above the current price. It held as the floor of the late-September consolidation before breaking at the start of October, so it could cap the next leg up.
RSI has climbed to about 53, crossing back above its signal line while staying well short of overbought territory. The longer-term averages back the move: the 50-day SMA sits above the 100-day near $0.135 and the 200-day near $0.120, and all three are still rising.
Where the bounce could fail The bigger structure has not flipped yet. Each rally since the September peak has topped out lower than the one before, and Wednesday’s candle has yet to close. A daily close back under the support band would turn this week’s breakout into another false start.
Potential Moves ARB sits between the top of its base near $0.205 and the support band near $0.186. Upside A daily close above the base this week could open a move toward the 0.236 Fib, with the September high the next hurdle beyond it. Rejection Another failure there could pull ARB back to the support band. A daily close below it before the end of October could expose the 0.5 Fib. Bigger picture A pullback that holds above the 0.618 Fib near $0.143 would leave the August uptrend intact. What to watch beyond the chart Three dates could matter as much as any level on the chart.
Thu, Oct 22 Arbitrum DAO votes close. Four temperature checks end, including a plan to make Paxos’ USDG stablecoin a core strategic initiative and add 100 million ARB from the DAO treasury to the DeFi Renaissance Incentive Program (DRIP). Temperature checks are early, non-binding votes, and a pass would send the plan to an on-chain vote. Treasury tokens count as circulating once the DAO deploys them, so a bigger incentive budget could add to supply over time. Wed, Oct 28 Fed rate decision. The Federal Reserve announces its policy decision at 2:00 PM ET. Rate decisions often move the whole crypto market at once, which can override token-specific setups like this one. Mon, Nov 16 Next token unlock. Team, contributor and investor allocations unlock on the 16th of each month under ARB’s launch vesting schedule. That works out to about 92.65 million ARB per release, or roughly $18 million at the current price. Four more releases follow before the schedule ends in March 2027. Is it ARB or the whole market? Bitcoin and Ether also rose on Wednesday, but by smaller margins, with gains of roughly 1% to 3% depending on the time window. ARB’s jump outpaced both, so the bounce is more than the broader market lifting every token. Whether Thursday’s governance votes are playing a part is something the chart alone cannot show.
How we read this chart
Daily ARB/USD candles on TradingView, captured at 15:35 UTC on October 21, 2026, with the day’s candle still open. Daily candles close at 00:00 UTC.
Fibonacci levels run from the mid-August low to the late-September high. Indicators used: the 50-, 100- and 200-day simple moving averages and the 14-day RSI.
This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Kaspa dokončila standardy KCC-1, KCC-2 a KCC-20 pro rozhraní podmíněných transakcí, autorizaci a převody zastupitelných tokenů. Jde o dobrovolné ekosystémové konvence, které nevyžadují změnu konsenzu.
Kaspa’s KCC Coordination Forum has finalized three standards covering covenant interfaces, authorization, and fungible tokens, establishing shared specifications for developers building applications on the network.
Summary
KCC-1 defines shared interfaces for wallets, compilers, indexers, and other tools working with covenants. KCC-2 specifies five standard authorization schemes, including public keys, scripts, and covenant identifiers. KCC-20 sets token transfer rules and supports receiving tokens through an existing compatible output. Finalization establishes ecosystem conventions without changing consensus rules or requiring every participant to adopt them. KCC Coordination Forum said in an Oct. 21 announcement that KCC-1, KCC-2 and KCC-20 were final and ready for adoption across the ecosystem. The forum invited builders to join its public channel for questions, implementation discussions, and support.
Greetings $KAS. KCC-1, KCC-2 and KCC-20 are now Final, meaning they are ready for full adoption across the ecosystem.
We invite Kaspa builders to join the public KCC channel to ask questions, get support, discuss implementations and share what you build.
Come build with us.
— KCC Coordination Forum (@kccforum) October 21, 2026 Kaspa’s canonical standards repository lists all three documents as Final. Its index identifies KCC-1 as the covenant specification, KCC-2 as the authority specification, and KCC-20 as the application standard for fungible-token covenants.
The repository describes KCCs as shared conventions for independent implementations. Its documentation separates those conventions from changes to consensus or core-node behavior, which belong in Kaspa Improvement Proposals.
Kaspa standards cover different parts of application development KCC-1 defines common terms, data layouts and an application binary interface, or ABI, for covenants. The specification describes how software encodes information, calls program functions, and identifies the state carried between transactions.
Its authors, Romain Billot, Michael Sutton and Ori Newman, identify compilers, wallets, indexers and transaction builders among the tools that need to agree on those details. The document says independent implementations need common formats beyond simply producing scripts that pass consensus checks.
The KCC-1 specification leaves developers free to choose their programming language, compiler, and framework. Its shared interface covers program entry points, state templates, and rules for handling transactions involving multiple inputs.
Within the same document, the authors distinguish basic interface rules from features that depend on covenant identifiers. Programs without covenant bindings can follow KCC-1, but the specification says they do not receive the lineage and authorization guarantees supplied by KIP-20.
KCC-2 defines who can authorize an operation KCC-2, written by Billot and Sutton, specifies how programs identify an authority and the minimum checks required to establish its approval. An authority can be a public key, a commitment to a key, a script, or a continuing covenant lineage.
The specification assigns standard identifiers to five authorization schemes. Its public-key options cover Schnorr and ECDSA signatures, while its other options allow a script or covenant lineage to participate as an authority.
For public-key-hash authorization, KCC-2 requires the transaction to reveal the corresponding public key, match its hash against the stored authority value, and provide a valid signature. Higher-level specifications define the signed message and any further conditions.
The authority registry reserves separate ranges for standard and custom schemes. KCC-2 permits participants to adopt custom schemes without waiting for standardization, provided their definitions specify the format, meaning, and approval checks.
Under its covenant-identifier scheme, approval requires an input from the identified covenant lineage. KCC-2 says a higher-level convention can impose further checks on that input’s program and state.
KCC-20 sets token transfer and receiving rules KCC-20 builds on the first two standards, defining token amounts, ownership, and transfer interfaces. The document names Sivan Helfer, Sutton, Newman, and Billot as its authors.
Its specification requires each token covenant to publish program information that software can use to decode state and construct transfers. Configurations must disclose supported ownership schemes and limits on token inputs and outputs.
A feature called borrowed receive lets a sender use a recipient’s existing compatible token output as the destination. KCC-20 says the transaction recreates that output with more tokens, preserves its ownership and extended state, and cannot reduce its KAS value.
The security section warns that replacing the output changes its transaction reference, invalidating unconfirmed transactions spending the previous reference. A wallet must discover the replacement before spending it, according to the document.
The standard links an Argent reference implementation with generated SilverScript contracts and Rust conformance tests.
Final status carries implementation requirements KCC-0, the document governing the standards process, requires more than completion of a final review period. It says a standards-track convention needs human-readable and machine-readable test vectors, plus at least one public implementation that passes the machine-readable checks.
Dependencies must be Final for other KCCs or Active for KIPs, according to the same rules. KCC-0 says status changes occur through pull requests and the repository index must be updated with them.
KCC-0 describes machine-readable test vectors as the authoritative form for automated testing when they accompany human-readable examples. Its submission rules require security considerations to address threats, trust assumptions, and potential replay issues before a standards-track document can enter Last Call.
The governing document states that finalization does not require every ecosystem participant to implement a convention. Substantive changes generally require a replacement KCC, while corrections and clarifications follow the document’s amendment rules.
Kaspa’s application development has previously included separate Layer 2 infrastructure. Gate announced a Kasplex Layer 2 integration in April, enabling KAS deposits and withdrawals through the EVM-compatible network, as crypto.news reported.
In its earlier integration announcement, Gate said customers could transfer KAS from the base network to a Kasplex wallet. Kasplex’s project materials describe a two-way bridge and say developers familiar with Ethereum tools can deploy contracts by changing their remote procedure call endpoints.
Kasplex describes its design as a lightweight rollup that places EVM bytecode in Kaspa transactions and executes it off-chain. Its documentation says Kaspa supplies transaction ordering and data availability, while bridged KAS serves as the Layer 2 gas token.
DATA ukončí provoz vlastního blockchainu a po investici Sui Foundation ve výši 30 milionů USD přejde na síť Sui, aby se soustředila na ověřování původu trénovacích dat pro AI.
DATA shifted from its broad intellectual property ambitions to AI training data after finding that established licensing markets were difficult to disrupt, CEO Andrea Muttoni told CoinDesk.The startup is moving to Sui following a $30 million investment from Sui Foundation, allowing the company to focus on its data verification tools rather than maintaining its own blockchain.DATA's Trace registry tracks the origins, consent terms and licensing history of AI training data, with partner Kled adding millions of contributions each day.DATA, the blockchain startup backed by Andreessen Horowitz's a16z crypto and formerly known as Story Protocol, is shutting down its blockchain and moving to Sui after securing a $30 million investment from the network's foundation.
The move comes after spending years trying to bring intellectual property onchain. But after raising $140 million and building its own blockchain, the company found that changing how the world's intellectual property is licensed was harder than expected.
"We were trying to boil the ocean, and it was a very saturated and entrenched ocean," Andrea Muttoni, CEO of DATA Foundation, told CoinDesk in an interview.
That realization helped drive Story’s rebrand to DATA Foundation in June, when it shifted its attention to the market for AI training data. Four months later, the company is now narrowing its focus further to tracking the origins and usage rights of data used to train artificial intelligence models.
When the Bellevue, Washington-based startup was founded in 2022, the original plan covered everything from music royalties to patents and trademarks. The idea was to let owners register their intellectual property on a blockchain and set terms for how others could use it. The problem, Muttoni said, was that many of those industries already had systems in place, while large rights holders had little interest in making their intellectual property available for permissionless licensing.
"We were kind of spreading ourselves way too thin across so many different types of IP," he said.
Then came the rebrand earlier this year.
However, after that, the team began to question whether it still needed to maintain an entire blockchain, given that most of its work centered on a single product: Trace, which is a registry that records where training data comes from, who contributed it and what rights buyers have to use it.
Also, running a blockchain comes with costs, including engineers, validators, audits and infrastructure providers.
"Does it still make sense to run our own L1, or should we focus most of our energy on the protocol, on the product, on Trace?" he said.
That line of thinking led to the decision to shut down its blockchain and move to Sui.
Muttoni did not disclose how much of Story's original $140 million in funding remains, but said its existing investors, including a16z crypto, are still involved.
Now, Muttoni is positioning the new focus as a continuation of the first rebrand rather than another change in direction.
Finding a market in AI dataThe company's new strategy grew partly out of its experience with Poseidon, an AI data company incubated by the Story team that collects and processes data for training AI models.
Muttoni said the team found a market where buyers often had little way to check whether the datasets they were purchasing were original, properly licensed or even exclusive. In one case, vendors offered Poseidon supposedly exclusive datasets that were already available from other sellers.
"We were at one point given our own data set back to us," he said.
DATA is trying to address that problem through its product, Trace.
For example, when someone uploads a video or voice recording via a participating data marketplace, Trace creates a receipt for that file. The record includes details such as when it was submitted, the terms the contributor agreed to and any later licensing or payment events.
Kled, a marketplace that pays people to contribute data, accounts for much of the activity. Muttoni said the platform is adding between 3 million and 4 million contributions a day, including older records being brought onto Trace.
The figures show how much data is being registered, though not necessarily how much has been sold. DATA did not disclose how many records have generated licensing revenue.
The move comes as more crypto projects shift toward AI, betting on growing demand for training data and tools to track its origins. Muttoni estimates the AI training data market could be worth hundreds of billions of dollars.
For now, Muttoni said, the goal is not to compete with data marketplaces but to provide a record that buyers and sellers can check. "The main goal for now is being the infrastructure for, let's say, the auditability and provenance of data," he said.
He didn't rule out DATA eventually operating its own marketplace, but didn’t provide any further details.
Why Sui?Moving to Sui means DATA will no longer need to run its own blockchain, while gaining access to tools that Muttoni said fit what the company wants to build next.
One is Walrus, a decentralized storage platform that can hold copies of the original files registered through Trace. Another is Seal, which can encrypt those files and restrict access to buyers with the right permissions.
Today, Trace records information about a file rather than storing the file itself. Adding storage would let buyers compare what they receive with the original submission, making it easier to spot changes.
Sui Foundation will become DATA Network's largest institutional holder through its $30 million investment. Muttoni said Sui is taking a hands-off approach to DATA's product plans. Financial details weren’t disclosed.
The company also plans to move its existing token to Sui on a one-to-one basis, with its current blockchain remaining operational until the migration is complete. Existing $DATA tokens will move to Sui one-to-one, with holders retaining their rights and vesting schedules unchanged, according to a press release.
For Muttoni, the decision comes down to concentrating on the part of DATA’s original business that attracted the most interest.
"We were thinking of going in one direction, but you see the wind keeps pulling you in a different direction," he said. "Maybe the wind is coming from that way."
OKX sjednotila objednávkové knihy pro páry EUR a EURC, takže způsobilí uživatelé v EHP mohou obchodovat z jednoho zdroje likvidity a vypořádávat obchody v EUR nebo EURC v poměru 1:1.
OKX wants euro traders to stop taking the scenic route through the dollar.
The exchange is expanding euro-native trading around EURC, Circle’s euro-backed stablecoin. It is doing that with a unified euro order book that pools liquidity for both EUR and EURC trading pairs into a single venue.
The feature was announced on October 21, 2026. It lets eligible users in the European Economic Area (EEA) trade against one consolidated pool. They can then choose to settle in either euros or EURC at a fixed 1:1 rate.
How the unified euro order book works When EUR pairs and EURC pairs live in separate order books, each book holds only part of the available buy and sell orders. Thinner books can mean wider spreads and more price slippage on larger trades.
OKX’s fix is to put everyone in the same market. Orders placed against EUR and orders placed against EURC now meet in one combined book. When a trade executes, the user picks which currency they want to settle in.
The 1:1 conversion rate is the key piece. Because EURC is designed to track the euro, OKX treats the two as interchangeable at settlement.
Skipping the dollar detour Under the new model, euro trades no longer need to pass through dollar-denominated pairs.
Crypto markets have long been built around the US dollar and dollar stablecoins. A European trader wanting to move from euros into a crypto asset has often ended up touching dollars somewhere along the way, which can mean another spread, another fee, and some exposure to the euro-dollar exchange rate.
OKX says the euro-native setup is focused on better execution depth for euro pairs. The company also claims the feature creates the deepest liquidity available for EURC anywhere in the market.
That claim comes with a caveat. OKX has not publicly disclosed the actual depth of liquidity in the unified book. It also remains unclear how that pool compares with the size of the broader euro market.
Building on the dollar playbook This is not OKX’s first attempt at merging books. The exchange previously rolled out a unified USD order book with a similar goal: streamline order execution and avoid the fragmentation common across crypto markets.
EURC is not new to the platform either. OKX had already enabled EURC deposits, trading, and withdrawals before this launch. The unified order book is an upgrade to existing support rather than a first listing.
EURC is issued by Circle and backed by euro reserves. Circle has said the OKX integration supports wider utility for the stablecoin within Europe’s financial ecosystem.
What this means for traders and the market For European traders, the most immediate effect is simplicity. Eligible EEA users can trade in euros or EURC without picking a side of a split market and can settle in whichever currency suits their next move.
There are open questions worth watching. Without published liquidity figures, outside observers cannot yet confirm how deep the combined book really is. The feature is also available only to eligible users in the EEA, which means not every OKX customer will see it.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Lighter’s LIT token has climbed more than 20% to around $3.90 as attention has returned to its Robinhood Wallet partnership and Delphi Digital’s assessment of the exchange.
Summary
Robinhood announced the wallet integration in July, months before the latest token rally. 11 million LIT tokens were allocated to a rewards program for eligible traders. Delphi included Lighter in its research on businesses earning revenue from speculative trading. U.S. residents remain excluded from Lighter perpetual futures offered through Robinhood Wallet. CoinGecko showed LIT at $3.88, up 21.3% over 24 hours, with token trading volume of roughly $125.5 million. Its price page listed a daily range of $3.21 to $3.97 and a market capitalization near $974.4 million.
Against other major cryptocurrencies, the main panel showed LIT gaining 18.3% in Bitcoin terms and 17.6% against Ether. CoinGecko listed a circulating supply of 250 million tokens against a maximum supply of 1 billion.
Lighter’s Robinhood integration dates to July Robinhood announced access to Lighter perpetual futures inside its self-custody wallet on July 1. The company limited the service to eligible users in selected jurisdictions when it introduced the product.
The integration arrived alongside the Robinhood Chain mainnet launch, an Ethereum layer-2 network built using Arbitrum technology. Robinhood presented the rollout at its London event, as crypto.news previously reported.
Robinhood’s announcement allocated 11 million LIT tokens to its community through a points program. Eligible participants earn twice the points for perpetual futures trades through Robinhood Wallet compared with trades through Lighter’s web application, with points converting into tokens subject to the exchange’s terms.
A July 17 account of the Robinhood Wallet perpetuals partnership described USDG as both the collateral and the currency in which contracts are priced. It put the revenue split between Robinhood and Lighter at 50/50.
The same account traced the companies’ financial relationship to November 2025, when Robinhood Ventures participated in Lighter’s $68 million funding round at a valuation of roughly $1.5 billion. Robinhood CEO Vlad Tenev serves as an adviser to the exchange, according to that account.
Delphi places Lighter in its trading-platform thesis Delphi Digital discussed Lighter in an Oct. 20 report examining speculative trading businesses and the platforms that earn revenue from them. The research placed the exchange alongside Hyperliquid in its discussion of perpetual futures venues.
Using DefiLlama figures dated Oct. 6, the report listed approximately $56 billion in Lighter trading volume over 30 days. Comparable figures in the research were $203 billion for Hyperliquid, $66 billion for Variational and $60 billion for Aster.
Delphi cautioned that some activity across the category comes from traders farming incentives. Its chart noted that Lighter’s figure appeared to include the Robinhood Chain integration.
The researchers described Lighter as an order-book exchange using zero-knowledge proofs to verify matching, with ordinary accounts trading without fees. Their account listed stocks, commodities, and foreign exchange alongside cryptocurrencies among the venue’s markets.
With retail trading free, Delphi tied the business’s revenue opportunities to premium accounts and distribution agreements. The report described the Robinhood arrangement as a revenue-sharing deal operating outside the United States since July.
Robinhood’s disclosures exclude U.S. residents Robinhood’s product disclosures say Lighter perpetual futures are unavailable to residents of the United States, United Kingdom, Canada, Switzerland, United Arab Emirates and Singapore, alongside other restricted jurisdictions.
The company states that users execute transactions directly through their self-custody wallets and Lighter’s smart contracts. Robinhood Non-Custodial supplies wallet-management services for that interaction, according to the disclosures.
The July launch account separately described Robinhood’s Stock Tokens as debt securities providing economic exposure to underlying equities. Holders do not receive ownership of the underlying shares or voting rights, according to the company’s explanation.
Robinhood said eligible users could trade those tokens around the clock and use them across decentralized applications, including lending services and collateral arrangements.
Lighter’s latest developer release remains a devnet Away from the wallet partnership, Axiom announced a public Lighter EVM development network on Oct. 16. The release connects an Ethereum-compatible environment with Lighter Core, its order-matching and risk engine.
Axiom said smart contracts can read account balances, positions, orders, and market information through the connection. Contracts can submit, change, and cancel trading orders through asynchronous instructions that execute in seconds.
The Oct. 16 account of the Lighter EVM devnet release described one-second blocks, ETH gas payments, and support for Ethereum development tools including Foundry, Hardhat, Viem, and Ethers.
The launch post said developers could deposit assets from the devnet settlement layer, transfer them between Core and EVM, and withdraw to that settlement layer.
Lighter’s developer documentation identified limits in the test environment, including mocked proofs for settlement finalization and an asset-recovery mechanism that was not fully functional. Requests to read Core data worked only at the latest block, with historical reads planned for a later update.
Axiom said developers were being admitted in groups and could review public documentation and bridge-contract code while applying for access. The team planned to open the network to all developers in the following weeks.
Ethena [ENA] is among the most widely used DeFi protocols, providing liquidity through its USDe stablecoin. Over the past 24 hours, the altcoin has grown by over 7%, that is, from $0.18 to $0.20.
Its daily trading volume is in excess of $405 million. However, ENA has started to face rejection, despite some analysts projecting an upside potential.
Understanding Ethena’s fundamentals Recently, Lark Davies announced he had bought a bag of Ethena tokens after conducting detailed research. The analyst cited that Ethena had generated over $1 billion in real fees and not emissions or printed tokens.
This was actual revenue, and almost none of that had gone to the people holding ENA tokens. But that was about to change, as these fees would fund a buyback mechanism.
Lark Davies argues that it could be the best bet on stablecoins and potentially better than Circle [CRCL] due to the upcoming buyback program.
Additionally, its Total Value Locked [TVL] has grown $1.32 billion since early August. Its most recent daily fees were over $4 million.
Source: DefiLlama Moreover, Janus Henderson Investors, which took a position in ENA in June, plans to use its staked USDe for cash management. This follows Ethena’s integration of Janus Henderson’s AAA CLO strategy.
These are AAA-rated floating-rate collateralized loan obligation tranches, tokenized via Centrifuge [CFG], and are eligible backing assets for USDe. This move shows traditional finance (TradFi) is catching ENA bids.
Is ENA’s correction about to end? While these are bullish signs, Ethena has been in a downtrend due to long liquidations and whale sales. However, that could come to an end soon as the price action starts to shift.
Currently, ENA is bouncing off an Optimal Trade Entry (OTE) that lies between the 0.618 and 0.786 Fibonacci Retracement levels. The altcoin has reclaimed $0.20 but needs to flip the $0.215 level into support.
This would mean the price entering the premium zone is now at a discount. The MACD has turned bullish, suggesting it’s taking into account the looming fundamental changes.
Source: ENA/USDT on TradingView Furthermore, the CVD shows that over 23.76 million ENA were bought at press time. In case the uptrend stays alive, then $0.30 becomes the next target, while failure would cause a full retracement to $0.135.
Final Summary Some analysts project a bullish trajectory for Ethena due to an upcoming buyback mechanism funded by fees. ENA was bouncing off $0.18 but needed to clear $0.215 as resistance to confirm a bullish trend shift.
Ondo Finance tokenized instruments reached 166,723 active addresses over 30 days, up 100.16% in three months, passing PayPal's PYUSD stablecoin in active users.
Ondo Finance's tokenized instruments have doubled their on-chain user base in three months, according to on-chain data. The products recorded 166,723 active addresses over the last 30-day period, a 100.16% increase from 83,295 active addresses three months earlier.
The figure puts Ondo's on-chain presence ahead of the active user base of PayPal's dollar stablecoin, $PYUSD, which has a market capitalization of $2.86 billion.
What is driving Ondo's growthOndo began by tokenizing U.S. Treasuries and now offers a wider range of products. Ondo Finance said the total value locked across its products has crossed $4 billion, a milestone driven by growth in tokenized stocks and exchange-traded funds (ETFs). The company said more than $1.3 billion of that total now sits in tokenized stocks and ETFs, and that its products have drawn more than 1 million cumulative holders.
Ondo's Treasury business is also expanding. Crypto Briefing reported, citing Token Terminal data, that Ondo added $41.6 million in market cap over seven days, ahead of Superstate at $34.2 million. The same report said Ondo crossed $3 billion in tokenized U.S. Treasury assets on October 13, 2026, with its USDY product accounting for about $2.328 billion of that total.
Ondo's reach across networks may also be helping user numbers. According to a KuCoin News summary of Ondo's disclosure, Ondo Stocks can be transferred permissionlessly on Solana, Ethereum and BNB Chain.
How PYUSD comparesPayPal USD is a regulated stablecoin. CoinMarketCap describes $PYUSD as issued by Paxos Trust Company and backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Its market capitalization has hovered near the $2.8 billion to $2.9 billion range in recent weeks, according to market data aggregators such as Bybit, which listed $2.84 billion as of October 20, 2026.
The comparison is limited. Active addresses measure wallet activity, not the amount of capital held, and the two products serve different purposes. PYUSD is a payments-oriented stablecoin, while Ondo's instruments are investment products such as tokenized Treasuries and stocks. Address counts can also vary depending on the data provider and how activity is measured.
Even so, the jump in active addresses points to growing demand for tokenized real-world assets (RWAs), as issuers expand from Treasuries into equities and other asset classes.
SourcesOndo Finance Says Total Value Locked Has Topped $4 Billion (Yahoo Finance)
Ondo and Superstate lead weekly growth in tokenized US T-bill market (Crypto Briefing)
PayPal USD price and statistics (CoinMarketCap)
Ondo Global Markets se v květnu 2026 stalo první platformou, která dosáhla celkové uzamčené hodnoty (TVL) 1 miliardy USD, a nabízí více než 450 tokenizovaných akcií a ETF pro způsobilé investory mimo USA.
Tokenized stocks have tripled in 2026, growing from under $1 billion to more than $3 billion in onchain market cap in just eight months. That growth has the attention of the world’s most important financial institutions, which are no longer asking whether tokenization belongs in global markets but how to build around it.
In October, the IMF dedicated a chapter of its Global Financial Stability Report to tokenization, naming Ondo Finance among the largest tokenization providers and using Ondo Stocks in its analysis. Its findings show what investors want from tokenized stocks: the ability to trade around the clock, act on news as it breaks, and put their assets to work.
Ondo Stocks has been built for that demand from day one, setting milestones the rest of the category now measures itself against:
First to bring traditional finance liquidity onchain, minting and redeeming through U.S.-registered broker-dealers against the liquidity of traditional exchanges like Nasdaq and NYSE. First to scale to hundreds of permissionless tokenized stocks, with more than 450 stocks and ETFs available to eligible non-U.S. investors. First to reach $1 billion in total value locked (TVL) in May 2026, the total value of assets deposited in the platform. First with real 24/7 trading, with minting and redemption live around the clock for 25+ of the most popular Ondo Stocks, including Apple, Nvidia, and Tesla. What is Ondo Stocks? Ondo Stocks (previously known as Ondo Global Markets) has tokenized more than 450 stocks and ETFs, making them accessible to billions of eligible investors outside the U.S. Each token is fully backed by the underlying shares together with cash in transit, and mints and redeems to the liquidity of traditional markets such as Nasdaq and NYSE. That connection helps enable large trades with minimal slippage. Beyond trading, Ondo Stocks can be used as collateral across DeFi, and participating institutions can convert shares they already hold. Eligible investors outside the U.S. can gain exposure to U.S. stocks and ETFs onchain.
Here’s What Sets Ondo Stocks Apart 1. Connecting to TradFi Liquidity Liquidity on other tokenization platforms is limited because it relies on onchain liquidity alone. Those platforms are disconnected from traditional markets, so they have to bootstrap their own liquidity onchain. Ondo Stocks overcomes that limit by tapping into the deep liquidity of traditional markets. Ondo Stocks mints and redeems against the liquidity of exchanges like Nasdaq and NYSE. These venues process hundreds of billions in daily volume. This helps provide decreased slippage (the gap between the price you expect and the price you get) in a 24/7 environment. The result is that Ondo Stocks can be bought and sold at scale, with consistent execution.
2. Bringing True 24/7 to Tokenized Stocks Ondo Stocks recently became the first tokenization platform to support 24/7 minting and redemption for tokenized stocks and ETFs. Minting and redemption are live around the clock for 25+ of the most popular Ondo Stocks, including Apple, Nvidia and Tesla, across BNB Chain, Ethereum, and Solana.
Eligible users outside the U.S. can enter and exit positions at any hour, including weekends and public holidays. On other platforms, 24/7 features were limited to secondary-market transfers on centralized or decentralized exchanges, where thin onchain liquidity can lead to high execution costs. Market-moving news doesn't wait for the Monday open. Until now, tokenized stock holders had to either wait for the market to reopen or accept high slippage in thin onchain liquidity pools. The weekend data below shows the difference.
3. Institutional-Grade Investor Protections Ondo Stocks are built with several protections for holders. Each token is fully backed and secured by U.S. stocks and ETFs held at one or more U.S.-registered broker-dealers, along with cash in transit. An independent third-party Verification Agent reviews the asset backing and publishes a report each business day. An independent third-party Security Agent holds a first-priority security interest in the underlying assets for the benefit of token holders, and the structure is designed for bankruptcy remoteness. The underlying securities are not lent out without express token holder consent.
4. Global Access Across Ethereum, BNB Chain and Solana Ondo Stocks is built for a global audience. Eligible investors outside the U.S. can hold and trade Ondo Stocks on Ethereum, BNB Chain, and Solana, and more than 450,000 holders already do. Ondo Stocks are available through the Ondo web app and across platforms including 1inch Fusion, UniswapX, MetaMask, Ledger, Trust Wallet, Binance Wallet, Bitget Wallet, KuCoin, Gate, and MEXC, where available, and select Ondo Stocks are also admitted to trading on Nest Exchange, a Binance-operated venue in Abu Dhabi.
5. Composable Across DeFi Composability means onchain assets can plug into one another like building blocks. Because Ondo Stocks are tokens, holders can swap them on decentralized exchanges and aggregators, keep them in self-custody wallets, and use them in DeFi apps, all around the clock. It also means new products can be built directly on top of them, as the portfolios below show.
Ondo Stocks can be used as collateral in lending markets and for perpetual futures trading. On Morpho, SPYon, and QQQon can back stablecoin borrowing in isolated lending markets, with risk parameters managed by Gauntlet. On Euler, SPYon, QQQon and TSLAon can be used to borrow stablecoins, with risk parameters set by Sentora. On Ondo Perps, traders can post tokenized stocks and ETFs directly as margin, starting with SPYon and QQQon for Pre-Alpha users. Ondo Perps is built to draw on the real liquidity of the underlying markets. For market makers, hedging with tokenized stocks as collateral can improve capital efficiency, which means more capital deployed and deeper liquidity for everyone.
6. 450+ Tokenized Stocks and ETFs Across Every Sector Ondo Stocks covers more than 450 U.S. stocks and ETFs. Sectors include technology, semiconductors, AI and data infrastructure, consumer, financials, digital assets, energy and utilities, industrials, healthcare, mining and materials, fixed income, commodities, international ETFs, defense, space, quantum, cybersecurity, and many more.
7. Institutions Can Convert Underlying Shares Into Ondo Stocks Approved institutions can turn shares they already hold into Ondo Stocks, and back again. Through Alpaca's Instant Tokenization Network, those shares become tokens on Ethereum or BNB Chain without the institution sourcing separate cash. For market makers, that means inventory they already hold can become onchain liquidity, which Ondo expects to support tighter spreads and deeper secondary-market liquidity.
8. Bringing Voting Preferences to Tokenized Stocks
Ondo has partnered with Broadridge so that holders of Ondo Stocks will be able to express voting preferences for the underlying shares. Holders will also be able to review prospectuses, regulatory filings, and other governance information through Broadridge's investor communications infrastructure.
"By working with Broadridge, we are enabling holders of our onchain wrapper stocks to access governance and voting capabilities like holders of the traditional offchain stocks, with all the additional benefits onchain wrapper tokens provide."
— Matthieu de Vergnes, MD, Global Head of Institutional at Ondo Finance
9. Curated Portfolios, Built With Ondo Stocks Ondo Stocks are the building blocks for Ondo Intelligent Portfolios, a new onchain product category. Ondo intelligent Portfolios are curated portfolios delivered as single onchain transferable tokens, whose underlying positions are Ondo Stocks. Ondo intelligent Portfolios are designed to scale with Ondo Stocks. The more stocks and ETFs available on Ondo Stocks, the more assets Intelligent Portfolios can choose from. The first three portfolios launched are based on strategies developed by BlackRock for Ondo, marking the first time eligible investors outside the U.S. can access onchain exposure to a full strategy through a single token.
Being onchain also unlocks programmatic rebalancing, onchain transparency, and multiple asset classes in a single token. Ondo Intelligent Portfolios offer diversified exposure in a single token with transferability and transparency of the blockchain.
Ondo Stocks vs. Others Put it all together and Ondo Stocks combines the best of traditional finance with the best of blockchain: the liquidity and asset backing of traditional markets, with the 24/7 access, transferability, and DeFi compatibility of onchain tokens.
Case Study: A 40% Return With Tokenized Stocks in 35 Days
Deep liquidity and fast redemption matter most at scale. Here’s one example of both in practice.
One wallet has already used Ondo Stocks to execute one of the largest trades in the history of tokenization technology thus far. It built a $13.5M position in CRCLon, the Ondo Stock for Circle, and redeemed at a 40% return in 35 days.
It started on January 19, 2026, when the wallet began accumulating CRCLon through Ondo Stocks. Over the following weeks, the wallet built a $13.5M position. By February 22-23, 2026, the wallet had redeemed a substantial portion of the position, receiving $18.9M in proceeds. A $13.5M position, built and redeemed entirely onchain, with the liquidity of traditional markets behind it.
*The change in the position's value over the period given above reflects movements in Circle's share price. A similar position could have lost value. This example illustrates liquidity and redemption features of Ondo Stocks and is not in any way a recommendation, guarantee of returns, or investment advice. Past performance is not indicative of future results.
Conclusion Ondo has spent years building the infrastructure for tokenized markets, and it is not slowing down.Tokenized stocks, portfolios, and U.S. Treasuries are all part of the same platform. As markets move onchain, Ondo is building the infrastructure where they will run.
PaperTrade uznal zprávy o pokusech o manipulaci s kotacemi ETH v rámci BBO platformy Hyperliquid, kterou používá pro referenční ceny při exekuci BTC a ETH. V reakci zpřísnil limity otevřeného zájmu on-chain i prostřednictvím relayerů.
PaperTrade has acknowledged reports of manipulation attempts on Hyperliquid’s best-bid/offer (BBO) used for synthetic execution. The incident involves attempts to shift Hyperliquid’s ETH quotes, impacting the reference prices used by PaperTrade for its BTC and ETH execution. PaperTrade has responded by tightening open-interest limits on-chain and through relayers. The situation highlights concerns over PaperTrade’s reliance on external price feeds and its exposure controls, although there is no indication of a breach in Hyperliquid’s native system.
Key Takeaways Reports suggest manipulation attempts on Hyperliquid BBO, which PaperTrade uses for reference pricing. PaperTrade is addressing the issue by tightening open-interest limits and enhancing controls. Market pricing suggests a decrease in confidence, reflected in reduced odds for PaperTrade’s FDV exceeding $25M. What to Watch Market participants will closely monitor any further measures PaperTrade implements to enhance security and control. The upcoming launch of PaperTrade’s token and its market reception will be key indicators of investor confidence. Developments in the Hyperliquid platform’s stability and any official announcements regarding improvements or partnerships will also be pivotal in shaping market sentiment.
Term Structure
Contract Odds Δ since publish Volume 24h January 1 2028 50% — — View market → January 1 2028 44.5% — — View market → January 1 2028 36.5% — — View market → January 1 2028 24% — — View market → January 1 2028 29% — — View market → January 1 2028 23.5% — — View market → January 1 2028 46% — — View market → January 1 2028 17% — — View market →
Aster has launched pre-market perpetual futures for the Predict.fun token $PREDICT with up to 5x leverage, opening synthetic price discovery before the token generation event.
Decentralised exchange @Aster_DEX has launched pre-market perpetual futures contracts for $PREDICT, the token of prediction market protocol @predictdotfun. The listing opens synthetic price discovery ahead of the protocol's token generation event (TGE).
The new market allows up to 5x leverage. That gives traders and funds a way to take a view on the value of the protocol before spot exchange listings begin.
What the Aster listing offersPre-market perpetuals are derivatives that track an expected price for a token that is not yet trading in the spot market. Because no spot price exists, the contract price reflects what market participants think the token will be worth at launch. Leverage amplifies both gains and losses, so positions carry a higher risk of liquidation than unleveraged trades.
The listing appeared on Aster's trading list on October 21. TechFlow reported that the page showed up to 5x leverage and that trading was expected to go live at 8 PM that evening.
Aster describes itself as a decentralised exchange. BitMEX Research notes that it was created through the merger of DeFi protocols Astherus and APX Finance in 2025 and supports perpetual contracts for stocks, commodities and forex settled in crypto.
Predict.fun and the token's path to launchPredict.fun is a prediction market on BNB Chain where users trade the outcomes of real-world events. According to Bitrue's overview, users trade with USDT or USDC while earning DeFi yield on their collateral.
Interest in the token has built for several weeks. ChainCatcher reported that the project teased a token with a post reading "Soon" earlier this month. Coingabbar reported that a separate pre-market on Aspecta opened on October 9 at an $800 million fully diluted valuation (FDV). The same report said no TGE date had been confirmed at the time.
Pre-market prices are indicative and can diverge sharply from where a token trades once spot markets open. Traders should check the contract terms, funding mechanics and settlement rules on each venue before taking a position.
SourcesTechFlow: Predict.fun token pre-market on Aster
Coingabbar: Predict.fun token pre-market on Aspecta
BitMEX: Aster overview
Stablecoin USD1 od World Liberty Financial zaznamenal během jediného dne objem obchodování přes 1,6 miliardy USD: přibližně 950 milionů USD na spotovém trhu a přibližně 650 milionů USD v perpetuálních futures.
World Liberty Financial USD (USD1) recorded about $1.6B in daily trading volume across spot and perpetual markets, with new Binance and Aster DEX listings.
World Liberty Financial’s $USD1 stablecoin recorded more than $1.6 billion in trading volume in a single day, according to figures shared by @worldlibertyfi. Spot markets accounted for about $950 million of Tuesday’s total, while perpetual futures contributed about $650 million.
The stablecoin now trades on @binance, @Aster_DEX, @Gate, @MEXC and @Bybit_Official.
Exchanges expand USD1 supportBinance has added a spot pair for Ethena’s $ENA against USD1 and extended its USD1 rewards campaign to Oct. 30. Aster DEX now lists 25 markets that use USD1 as collateral, 15 of them new.
Binance has used incentives to promote the token before. An earlier USD1 airdrop campaign ran from May 15 to June 12, 2026, rewarding users who held USD1 on the platform with variable WLFI token rewards , according to Traders Union. The exchange has also listed other USD1-quoted pairs. In January it opened spot trading for LINK/USD1 and PEPE/USD1 , per Crypto Adventure.
What USD1 is World Liberty Financial USD (USD1) is a stablecoin issued by World Liberty Financial Inc., designed to maintain a 1:1 peg with the US dollar. It operates on Ethereum and BNB Smart Chain, and its reserves are reportedly composed of short-term US Treasuries, USD cash deposits and USD-equivalent instruments , according to CoinDesk. BitGo provides custody and infrastructure, handling issuance, redemptions and daily reconciliation.
Circulation has grown since launch. World Liberty Financial has said USD1 circulation has grown past $4 billion , as reported by Blockonomi. The same report noted that lawmakers continue to question foreign ownership links tied to the company .
The latest volume figure puts daily turnover at a sizeable share of that supply, with perpetual markets now a major part of activity. The rewards extension and new collateral markets suggest exchanges are still working to deepen USD1 liquidity.
Sources:
CoinDesk: World Liberty Financial USD (USD1) price and overviewBlockonomi: USD1 stablecoin tops $4 billion in circulationTraders Union: Binance USD1 airdrop campaign details
Bitcoin spolu s technologickými akciemi vzrostl až o 2,4 % na 84 737 USD; zájem o perpetuální futures po týdnech snižování pákového efektu znovu roste.
Bitcoin climbed alongside technology stocks as a revival in risk appetite spread to cryptocurrencies, lifting the token out of a bout of listless trading and offering another sign of resurgent speculative fervor across global markets.
The original digital asset rose as much as 2.4% to $84,737 as a rally sparked by SpaceX earnings helped reignite enthusiasm for riskier assets, even as questions lingered over the sustainability of the artificial intelligence boom.
Also helping sentiment: the Office of the Comptroller of the Currency unveiled a final measure for payment stablecoin issuers, in latest sign pro-industry development.
The latest uptick has been in part driven by a rebuilding of leverage via perpetual futures. Open interest, or the total outstanding number of the futures contracts, has been rising again after weeks of deleveraging, according to data compiled by Coinglass.
“Risk assets in general got a lift from solid earnings and renewed AI interest while oil remains elevated and choppy.” said Jasper De Maere, an over-the-counter trader at Wintermute. “At the moment, this still feels like a recovery vs the start of a rally, however that could turn quickly if we approach $87,000 Bitcoin** **with decent momentum.”
Besides futures, the crypto options market is posing a bullish posture as well with demand clustered around call contracts at the strike prices of $95,000, $90,000 and $100,000, according to crypto exchange Deribit.
“The longs that were on got cleared out on the way down, and a good part of the bounce was shorts closing. That’s largely positioning resetting rather than new leverage going on,” said Himanshu Sahay, co-founder of Arch Lending.
Many analysts are monitoring Bitcoin ETF flows for a read on the health of the rally and retail investor involvement. Over the past month, some $2.3 billion has gone into spot funds, data compiled by Bloomberg show, suggesting renewed investor interest. Within the cohort of offerings, BlackRock’s IBIT has been the biggest beneficiary, absorbing the majority of those flows during that stretch.
Still, researchers at Glassnode say that though spot ETFs have seen inflows, it hasn’t come with heightened trading volume. “Inflows that repeat on rising volume would show demand broadening beyond a single day,” they wrote in a note Wednesday.
“I think there’s plenty of fuel in the tank for it to fly higher again,” said Daniel Reis-Faria, chief executive officer of ZeroStack.
Od července zasáhly bitcoinový ekosystém útoky hackerů v hodnotě přes 500 mil. USD; zranitelnost Coldcard vedla ke ztrátám přes 110 mil. USD, aniž by existoval mechanismus odškodnění uživatelů.
Representation of Bitcoin is seen with binary code displayed on a laptop screen in this illustration photo taken in Krakow, Poland on August 17, 2021. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
NurPhoto via Getty Images
The Bitcoin ecosystem has absorbed major hacks since July, totaling over $500M to date. Yet the real story lies in distinguishing between preventable hacks and AI-accelerated attacks, and in what the self-custody industry must learn afterward to re-establish itself as the default for storing bitcoin.
The Coldcard Entropy Hack Case Study ($110M)The first major hack with far-reaching consequences for self-custody that kickstarted this was the Coldcard Entropy Hack in July.
During an audit of Coldcard’s firmware by Bitcoin developer James O’Beirne over 17 months ago, he reportedly uncovered that they had relied on an obscure library named libngu to integrate the industry gold standard library libsecp256k1 to generate cryptographically secure random numbers, the critical component needed to ensure wallet seeds are secure, not easily guessable, and user funds protected.
Coinkite, the team behind the Coldcard, cited the aforementioned libngu library in their own technical post-mortem. Specifically, after their migration to libsecp256k1, they relied on libngu to communicate with the library, stating that “The cryptographic choice was sound. The integration was not.” According to the post’s timeline, the vulnerability was introduced in 2021. Meaning it went unnoticed for 5 years until it was exploited in July.
Coinkite eventually shipped an update that fixed the vulnerability with clear steps for users to migrate their bitcoin. Yet users who have collectively lost over $110M, according to Galaxy Research estimates, have no mechanism to be made whole. As of writing, Coinkite has not provided any information about a fund to make customers whole or legal redress.
Asked for comment, Coinkite says it will be publishing a third-party audit which will cover the hack’s timeline, why the bug went undetected, and changes they’ve made to their review process since July. Once public, this piece will be updated and a follow-up published.
CryptoBilis Ledger Reseller Hack ($91M)Beyond code, the supply chain is also an attack vector. The third-party reseller CryptoBilis, which operates in Indonesia, Malaysia, and the Philippines, reported Ledger wallets containing custom implants that copied sensitive wallet material and stole user funds, totaling ~ $91M across 474 addresses, according to Galaxy Research.
Case Studies In AccountabilityLedger followed up by having CryptoBilis halt all sales and shipments, announcing its intention to roll out tamper-resistant enclosures to prevent similar supply-chain attacks, and providing users with guidance on how to handle the situation.
After the CryptoBilis incident, popular hardware wallet manufacturer Trezor announced last week a significant reduction in its reseller network to ensure it can accurately vet vendors and avoid a similar situation.
Even as the Coldcard hack was still actively draining user funds, the broader bitcoin ecosystem spent sleepless nights helping affected users migrate their coins and educating others on more secure alternatives and setups.
Away from hardware wallets, Blink, an open-source custodial bitcoin wallet, responded to a $430k hack by its shareholders, making users whole within days. Another is Boltz, an open-source, non-custodial bitcoin swap bridge, which faced successive, consistent AI-automated attacks on its servers and responded by shutting them down to prevent users from losing funds.
Liquid Network Hack ($320M)The recent $320M hit the ecosystem at a different layer away from exchanges and hardware wallets, and in the realm of side chains. Here, the attacker leveraged a zero-day vulnerability that let them mint—essentially create—unbacked L-BTC (the pegged BTC token on Liquid) and drain 4,000 BTC.
The attacker reached out to Blockstream on-chain by embedding OP_RETURN messages, with most of the exchange happening there for the public to see. The attacker initially posed as a white hat but held the coins for ransom until the bug was fixed. They later returned 3,400 BTC to Liquid and pocketed the remaining ~600 BTC.
Liquid initially froze redemptions for over 40 days as a mitigation, but have announced resumed peg-outs and swaps. As for the 600 bitcoin, it seems Blockstream will likely replenish that.
The Bitcoin Exchanges ConundrumA hallmark of bitcoin security advice has been keeping your coins off exchanges. However, examples like Bitget’s recent $387.5M hack show an important counterweight to self-custody setups. Namely, despite the significant hack, Bitget relied on its User Protection Fund, which stood at $464M at the time of the attack, to cover the full amount lost to affected users.
Ironically, while self-custody is theoretically more secure than exchanges, the last few months have shown it currently offers worse fallbacks for victims, especially in the case of the Coldcard hack. The broader question is why the industry has promised far more secure setups than exchanges, yet hasn’t adopted equivalent measures.
MORE FOR YOU
The Super Intelligence (SI) AccelerantWhile we can’t squarely blame SI-accelerated hacks for the Coldcard situation, notwithstanding their upcoming review, the timeline does raise questions of how much of this was preventable independent of the AI-accelerated attacks that followed.
Regardless, what’s undeniable is the use of SI for defensive measures like frontier-model-led preemptive source-code audits and patches, as spearheaded by the Bitcoin Red Team, has become increasingly invaluable.
In the age of super intelligence, access to insurmountable stockpiles of compute that defend against perilous actors will become cheaper, while devastating attacks proliferate at unprecedented rates. Plus, at the pace of SI-accelerated reverse engineering, all code is functionally open source, further exacerbating the situation.
The Path ForwardTechnology is not the bottleneck; user-friendly multi-sig and single-sig self-custody products exist from companies like Bitkey, Casa, Trezor, and Bitbox.
The real test is whether Bitcoin’s self-custody ecosystem can rise to the level of maturity and accountability infrastructure required to safeguard billions of dollars in bitcoin. The industry must make “not your keys, not your coins” progress beyond a dunk on victims to the default operating principle.
Until then, users will keep their coins on exchanges and in ETFs.
Elon Musk’s proposed merger of SpaceX and Tesla has drawn heightened interest, not just for the integration of aerospace and electric vehicle technology, but for what it means in the world of corporate Bitcoin treasuries. If the two companies were to unite, their cumulative Bitcoin holdings would exceed 30,000 BTC, valued at approximately $2.5 billion based on recent market prices.
Potential merger would create a Bitcoin powerhouseOn SpaceX’s third-quarter earnings call, Musk confirmed that both companies’ boards have established special committees comprised of independent directors to evaluate a potential merger. He stressed that discussions remain preliminary, warning that predicting the deal as a certainty would be premature.
The merger prospect has quickly become a focal point for the cryptocurrency community, given each company’s sizable exposure to Bitcoin. Tesla, a global leader in electric vehicles with Musk as CEO, most recently reported a Bitcoin reserve of 11,509 BTC. SpaceX, the private aerospace manufacturer and satellite communications company led by Musk, revealed its own stash of 18,712 BTC in its S-1 filing prior to its June IPO announcement.
Together, the holdings would position the merged entity among the largest non-mining corporate Bitcoin holders globally. Only a few companies, such as MicroStrategy under Michael Saylor, would outrank Musk’s combined corporate portfolio in terms of Bitcoin reserves.
Mini dictionary: MicroStrategy is a publicly traded business intelligence company led by Michael Saylor, recognized for holding the largest Bitcoin treasury among public companies and for its active Bitcoin investment approach.
Tesla holds 11,509 BTC, and SpaceX owns 18,712 BTC, combining for 30,221 BTC valued near $2.5 billion at the latest Bitcoin price of $83,000. The average cost across both companies is around $35,000 per Bitcoin, indicating a total cost basis of approximately $1 billion.
SpaceX Bitcoin activity draws attentionThe most significant discovery stems from SpaceX’s Bitcoin holdings. The company’s 18,712 Bitcoin were almost entirely obscured from public view until SpaceX’s IPO filing revealed the cache. This sum was more than double the estimate made by blockchain analysis firms, which had attributed far fewer coins to SpaceX’s wallets before the disclosure.
Recently, blockchain analytics firm Arkham Intelligence reported that SpaceX moved more than $133 million in Bitcoin on Friday. The company transferred 1,215 BTC to separate wallet addresses, including a shift of 300 BTC worth $33 million and 915 BTC valued at $100.7 million.
Arkham Intelligence highlighted that these recent transactions differed from earlier movements and indicated active internal treasury operations at SpaceX.
Despite this movement, neither SpaceX nor Tesla has signaled any intentions of increasing or selling their Bitcoin positions. SpaceX last made significant wallet transactions in prior years, while Tesla has reported no changes to its digital asset holdings through its latest quarter.
CompanyBTC HoldingsEstimated Value ($B)Cost Basis ($B)Average Buy PriceTesla11,509~$1.0~$0.4$35,000SpaceX18,712~$1.5~$0.6$35,000Total30,221~$2.5~$1.0$35,000The discussions around a potential merger remain at an early stage, with the outcome still uncertain. For now, the combined crypto treasury is a hypothetical scenario dependent on the success of negotiations and regulatory approval.
Musk has acknowledged the complexities involved, and has indicated no immediate changes to either company’s stance on its Bitcoin assets. Both firms continue holding their positions, and have not announced any upcoming strategic moves regarding their Bitcoin reserves.
Litecoin [LTC] ETFs spent most of the year getting the odd visitor or two. Lately, there’s been many more.
Is this the start of something, or just a good few weeks? Let’s look.
Litecoin ETF assets have doubled to $14 million
For most of the year, Litecoin ETFs were fairly quiet.
SoSoValue data showed a few big days early on, like the roughly $2 million that came in around mid-January. After that, it was mostly scattered. A small inflow here, a small outflow there, with weeks of nothing in between.
Total net assets drifted between about $5 million and $7 million for months.
Then, late September changed things.
Source: SoSoValue
Inflows landed almost every day; the biggest one came close to $1.4 million. That’s the most consistent run these funds have had since they launched.
Total net assets shot up to around $15 million at the peak. While it has fallen since, they’re 2x where they were in the summer.
Notably, after a few flat days, Canary’s Litecoin ETF [LTCC] saw $581,140 in inflows on the 19th.
There could be more company soon. Grayscale has also been pursuing the conversion of its existing Litecoin Trust into an exchange-traded fund, although the process has yet to be completed.
Litecoin price punches up, futures traders lean long
LTC got a nice push on the 20th, going up about 5% in a day. At the time of writing, it was at $61.35.
While a step below the late-September high of $75, it’s still a decent climb from mid-October slip down to $57.
RSI was near neutral, at 47.6 during press time. MACD was negative, though the red bars are evidently shrinking. A crossover isn’t a far off possibility.
Source: TradingView
Futures traders seem to be on board. Open Interest [OI] dropped to about $213 million on the 18th, then went back to $229 million. Funding was also positive at 0.0058%.
Source: Coinalyze
Getting back above $65 would help.
Final Summary
Litecoin ETF assets doubled to about $14 million after a late-September inflow run.
Litecoin price jumped about 5%, futures funding also looks positive.
Binance v rámci kampaně od 23. října 2026 v 00:00 UTC do 20. listopadu 2026 v 00:00 UTC rozdělí 600 000 XRP držitelům alespoň 0,01 RLUSD na účtech Spot, Funding, Earn nebo Margin. V účtech Earn se započítává pouze RLUSD vložené do Flexible Savings.
Binance, the world’s largest cryptocurrency exchange, has made an announcement concerning the Ripple ecosystem. According to the announcement, Binance has launched a new XRP airdrop campaign for holders of Ripple’s dollar-pegged stablecoin, RLUSD.
Binance will distribute a total of 600,000 XRP to eligible users as part of the campaign, and the rewards will be shared among users who meet the specified conditions.
“Binance will be launching an airdrop campaign rewarding all eligible users holding Ripple USD (RLUSD) on our platform. Eligible users will receive a share of the large prize pool of 600,000 XRP.”
When Will Binance’s XRP Airdrop Campaign Begin? According to Binance’s official announcement, the campaign will begin on October 23, 2026 at 00:00 UTC and end on November 20, 2026 at 00:00 UTC. Rewards will be distributed weekly throughout the campaign period.
Binance stated that the first reward distribution is scheduled for October 30th, with subsequent distributions planned for November 6th, 13th, and 20th. XRP rewards will be transferred to eligible users’ Spot accounts within their main Binance accounts.
Who Can Participate in the XRP Airdrop? To be eligible for the campaign, users must hold at least 0.01 RLUSD in their Spot, Funding, Earn, or Margin accounts on Binance. Only RLUSD balances deposited into Flexible Savings products will be considered in Earn accounts.
“To be eligible for rewards, users must hold at least 0.01 RLUSD in their Spot, Funding, Earn, or Margin accounts.”
However, users must complete identity verification and meet the campaign participation requirements. Regional restrictions and active account restrictions may also affect eligibility.
In addition, Binance stated that additional reward multipliers will be applied to users who meet certain conditions. Specifically, users who increase their RLUSD balance compared to the previous two weeks will receive a 1.2x reward multiplier, while those who subscribe to the RLUSD Flexible Savings product will receive a 1.1x multiplier. If both conditions are met, the multiplier for the relevant balance can reach 1.3x.
Binance finally added that rewards will be calculated based on variables such as users’ eligible balances and total participant balances.
*This is not investment advice.
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The Yellow Network blockchain project, in which Ripple co-founder Chris Larsen invested $10 million, has teased a technology for instant settlements between autonomous AI programs.
According to a teaser posted on X, the XRP token will become the basic settlement mechanism for the new "ultimate" AI stack, designed to combine Yellow's high-speed channels with the capabilities of the XRP Ledger (XRPL) network.
Moving value across borders in seconds is old news. XRPL already solved that.
The real challenge now is trust: how do two autonomous AI agents with zero shared history transact safely? They need guaranteed outcomes.
Yellow provides the exact trustless settlement layer to make it happen.
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— Yellow (@Yellow) October 21, 2026
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It is expected that the new software will allow AI agents to trade with each other without fees within the system, and to instantly record the final settlement on the XRP blockchain.
Why do robots need money at all? (And why regular banks don't suit them) Regular bank transfers are too slow for artificial intelligence. When two robots on the network want to make a deal — for example, one AI buys data or computing power from another — they need to complete the payment within fractions of a second. At the same time, they "don't know" each other and cannot take each other's word for it.
Yellow solves this problem. The project acts as a digital guarantor: it verifies and protects the deal on the fly, and then sends it to the XRP Ledger for closing. In the company's teaser, this process was shown simply — two capsules are connected by a glowing bridge of trust.
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AI agents perform millions of micro-operations, so predictability is important to them. The XRPL blockchain may be ideal for this: a transfer there takes only 3–5 seconds, and the fee is a fraction of a cent. Chris Larsen's involvement links this project directly to the future of the Ripple ecosystem.
This infrastructure has already been deployed on the basis of the XRPL AI Hub, where 174 AI services are registered. Autonomous agents have carried out more than 14.5 million microtransactions and closed almost 6,000 deals, paying each other for inference routing, token analysis, and contextual data via the x402 protocol.
XRPL AI Hub metrics showing over 14.5 million settled microtransactions, Source: XRPL AI HubWhile people argue about cryptocurrencies, major capital is building the economy of the future — where robots will buy and sell services to each other without human involvement, using XRP liquidity.
XRP posted a notable rebound of over 4% on October 21, with its price recovering toward $1.35 as a wave of short seller liquidations hit the market ahead of a key network upgrade for the XRP Ledger. Market data recorded XRP’s 24-hour gain at 4.7%, with trading activity heavily concentrated in the $1.29 to $1.35 range.
XRP short liquidations surge near resistance zoneDerivatives analytics revealed that $4.4 million in XRP positions were liquidated within the past day, with approximately $3.6 million attributed to short sellers. TRdesk, a derivatives tracker, reported that around 80% of these liquidations came from short positions. As leveraged shorts are forced to buy back XRP to settle their losses, such events often contribute further upward pressure to the price rally.
XRP’s return to the $1.35 level signals increased volatility, especially as liquidation-driven buying combines with anticipation for the upcoming network upgrade.
Despite this recent bounce, XRP continues to trade below earlier highs from the first half of October. The preceding decline illustrated the severity of the broader market correction even as institutional investors showed ongoing interest in the digital asset.
Technical traders are closely monitoring resistance between $1.35 and $1.38; a clear break above could shift attention toward $1.42. However, if bearish momentum returns and sends XRP below $1.32, the price may target support levels at $1.29 and $1.28.
Price LevelSignificance$1.38Key resistance$1.35Current recovery zone$1.32Support if price pulls back$1.29Lower supportNetwork upgrade prompts market attentionAnticipation for the XRP Ledger’s scheduled upgrade on October 23 has intensified market activity. The planned activation of fixCleanup3_4_0 is a maintenance amendment set to address various technical issues, including corrections related to token permissions, escrow transactions, automated market maker operations, and foundational aspects for future lending infrastructure.
According to previous analyses published by blockchain intelligence firm Coinpaper, the upgrade received sufficient backing among validators to initiate the countdown process ahead of implementation.
The current amendment, however, does not enable native lending capabilities on the XRP Ledger. The lending protocol—featuring Single Asset Vaults—remains under separate consideration and will require more validator approvals before it can be deployed.
The distinction carries weight because a full-scale credit market on the XRP network could expand the range of financial products available, but the activation of the fixCleanup3_4_0 patch is only a preparatory measure toward such developments.
Mini dictionary: fixCleanup3_4_0 is a maintenance amendment for the XRP Ledger designed to resolve technical issues, improve calculations for lending infrastructure, and update network mechanics, but it does not itself implement new lending features.
Institutional activity and market outlookWhile XRP saw a brief surge, broader uncertainty persists regarding both institutional demand and overall cryptocurrency market sentiment. The US spot XRP ETF market previously attracted inflows for 13 straight weeks, underscoring that consistent investment in regulated products does not necessarily insulate the underlying asset from price corrections.
Ripple, the company behind the XRP Ledger, continues to refine its institutional strategy by exploring uses for XRP as collateral. These measures remain separate from speculative trading and are part of Ripple’s larger approach to expanding utility for the digital asset.
For bullish traders, maintaining support above $1.35 remains critical to challenge resistance at $1.38 and potentially reach $1.42. If the recovery stalls, renewed selling could push prices down to $1.32 or even test the $1.29 support.
The upcoming network upgrade could impact sentiment, but XRP’s next sustained trend will depend on a combination of customer demand, market positioning, and institutional participation.
The outcome of the October 23 amendment, along with continuous institutional activity, is likely to guide XRP price action in the short term, but long-term direction remains linked to broader market dynamics.
CVD XRP kleslo z téměř neutrální úrovně na −1,18 miliardy, což ukazuje na přetrvávající převahu prodejů. Analytici se neshodují, zda jde o kapitulaci, nebo pokračující distribuci.
Crypto analyst Xaif, known online as Xaif_Crypto, published an analysis signaling a major shift in the market structure for XRP. His recent investigation revealed a sharp decline in XRP’s cumulative volume delta (CVD), which tracks the net difference between buying and selling volume over time.
Steep CVD decline for XRPAccording to Xaif, XRP’s CVD dropped from nearly neutral to around -1.18 billion. He pointed out that both the green and purple moving averages on his TradingView chart are sloping downward, showing no signs of leveling off. As of the latest reading, the CVD stands at the lowest point on the chart, with the price of XRP at 1.2983.
The CVD’s downward trajectory suggests that selling activity has consistently outpaced buying, indicating pressure from sellers dominating over multiple sessions rather than short-lived surges.
Mini dictionary: Cumulative Volume Delta (CVD): An indicator that measures the net buying and selling volume, helping traders gauge whether buyers or sellers are more active over a specific period.
Xaif’s chart shows a period of stability in CVD until early October, followed by a sudden drop around October 12 to 13. A brief stabilization was seen before another wave brought the CVD even lower from October 17 to 19.
XRP liquidity just got absolutely crushed. The CVD has collapsed from near neutral levels to roughly -1.18 billion, while both moving averages continue trending lower. Is this capitulation, or is there more selling left?
Capitulation or sustained selling?Xaif’s central question focuses on whether the current CVD collapse represents market capitulation or if further selling might be likely. Capitulation typically refers to a situation where persistent and heavy selling marks the end of a downtrend and sometimes signals a reversal. Despite the weakness, the CVD pattern does not yet confirm that a full capitulation event has taken place.
Some analysts interpreting the data remain cautious, viewing the ongoing selling as a sign the bearish trend could extend further. Others believe the current intensity bears hallmarks of exhaustion among sellers, often preceding a shift in momentum.
Community discussions and analysisSeveral market watchers responded to Xaif’s analysis, providing further technical context. One observer described capitulation in precise terms—it usually involves a spike in trading volume, long wicks on the chart, funding rates reaching -0.1%, and CVD flatlining while the price still declines.
By these criteria, he assessed the market as not yet meeting the typical conditions for capitulation. He characterized the current situation as “distribution,” a phase dominated by active selling without divergence or signs of reversal, but suggested a potential bottom could form within a few days.
A different analyst commented that his experience with similar CVD patterns gives him the impression of capitulation. Another voice took a more moderate position, agreeing that the -1.18 billion CVD figure signals significant stress in the market but emphasized that moving averages remain weak and unrecovered, echoing Xaif’s observations.
Market sentiment splitThe data from the past week suggests that XRP continues to face strong selling pressure, with neither price nor CVD reflecting a clear sign of divergence or an imminent turnaround. The analyst community remains divided, with some expecting the period of active distribution to persist, while others think seller exhaustion could emerge soon.
Ripple na makléřské platformě Ripple Prime spustil pro institucionální klienty nepřetržité obchodování s akciemi, přičemž jako zajištění mohou používat stablecoin RLUSD.
Ripple has announced a significant update to its institutional offerings, unveiling 24/7 stock trading for its clients through the Ripple Prime brokerage platform. The new capability allows institutional investors to trade stocks at any time, utilizing the firm’s stablecoin, Ripple USD (RLUSD), as collateral for their trades.
RLUSD gains utility in institutional tradingWith the integration of RLUSD as collateral, Ripple aims to offer institutions more flexibility in managing their trading positions and capital flows. Traditionally, such transactions require coordination during market hours and reliance on conventional banking systems. By enabling round-the-clock trading, Ripple positions RLUSD as a key tool not just for payments and treasury use, but also for financing and trading within institutional markets.
Ripple stated that this move is intended to streamline access to global markets and provide seamless operational continuity for institutional clients. The use of RLUSD as collateral is seen as a step toward broader adoption of the stablecoin, extending its function well beyond its original purpose as a payment asset.
The integration of RLUSD as collateral in Ripple Prime enables institutional clients to manage trading positions and move funds more efficiently without exclusively relying on traditional banking hours, a company spokesperson indicated.
Liquidity concerns and market limitationsDespite these advancements, market observers have pointed out potential challenges related to liquidity. As 24/7 stock trading remains a relatively new feature, liquidity in these markets can be inconsistent, especially during off-peak hours. Some industry participants suggested that institutional traders could struggle to execute large transactions without a sufficient number of active buyers and sellers, resulting in price volatility or higher transaction costs.
For Ripple Prime’s new 24/7 product to fully meet institutional needs, the development of a deeper pool of liquidity will likely be necessary. This echoes concerns expressed by analysts who emphasize the importance of monitoring trading volumes and market activity outside of traditional hours.
Emergence of dynamic trading tools amid rapid market shiftsAs the technical landscape for institutional and retail trading evolves, platforms that combine trading execution and investor engagement are gaining attention. In particular, the meme token market exemplifies how quickly investment interest can build. In this space, an internet trend can quickly turn modest sums into substantial gains within days. Data provided by Fomo App illustrates this phenomenon, with one highlighted trade involving “Niu Lai” turning a $99 initial investment into approximately $370,000. In fast-moving markets like these, observing not just price charts but also investor timing and token selection is essential to navigating opportunities and risks.
Fomo App seeks to address these challenges by integrating token tracking, trading capabilities, social feeds, investor rankings, and trade notifications into a single platform. The application is designed to allow users to follow both asset trends and the activity of prominent investors in real time.
Platforms integrating token discovery, social engagement, and live trading are becoming increasingly important for those looking to participate effectively in the rapidly changing meme token ecosystem, according to Fomo App’s development team.
