GeneralA simpler look at what Tezos bakers are currently voting on, and why this proposal matters for the network's future
6 minute read
April 29, 2026
Tezos bakers are back in voting mode, as the network’s 21st protocol upgrade proposal, Ushuaia, has now been injected and entered the Proposal period of governance.
This latest upgrade proposal brings a handful of notable changes to the protocol, with most of the focus landing on Tezos X infrastructure, Smart Rollup performance, and the early testing of two features that could become much more relevant down the line.
So, let’s take a high-level look at what Ushuaia brings to the table.
A Stronger Backend for Tezos X #A big part of Ushuaia focuses on strengthening the infrastructure Tezos X is being built around, particularly the Data Availability Layer (DAL) and Smart Rollups.
Without getting too deep into the weeds, the DAL is a core part of Tezos’ scaling design. It is what allows Smart Rollups to publish and access large amounts of data without pushing all of that load directly onto Layer 1, making it possible for Tezos to scale without simply bloating the base chain.
The first major change here is a substantial increase in DAL bandwidth, jumping from roughly 0.66 MB/s to 10 MB/s. That is a sizeable expansion in the amount of data Tezos can make available every second, giving Smart Rollups far more breathing room as the network prepares for heavier rollup usage in the future.
Ushuaia also introduces what the core devs call Dynamic DAL Attestation Lag, which changes how quickly that data can move through the system. Instead of DAL data always waiting through the same rigid delay before becoming usable, that waiting period can now be adjusted depending on how quickly the required attestations come in. In short, data does not have to sit around longer than necessary before Smart Rollups can make use of it.
And the backend tuning does not stop there. Ushuaia also includes upgrades to the WASM PVM, which you can think of as the internal workspace where Smart Rollups do their processing behind the scenes.
Ushuaia makes that workspace more efficient when it comes to loading data and preparing storage before tasks are executed, helping rollups run more smoothly as the network continues building toward heavier scaling usage.
Taken together, these changes are all part of Tezos getting its scaling foundation into place. But Ushuaia doesn’t stop at backend improvements. It also introduces two separate feature-flagged additions that give the community an early look at what may be coming further down the line.
Tezos Liquid Staking Takes Its First Step Into Testing #Beyond the infrastructure upgrades, Ushuaia also includes one of the more talked-about additions in recent weeks: Enshrined Liquid Staking.
This is the proposed native Liquid Staking Token model on Tezos (sTEZ**)**, which would eventually allow users to stake their tez while also receiving a liquid tokenized representation of that position that can still be moved or used across DeFi, rollups, etc. In other words, it opens the door for users to keep earning staking rewards without having their capital sit completely idle.
The feature is included behind a feature flag, which allows it to be tested and evaluated on testnets, but it will not automatically activate on mainnet at this stage. This step allows the community to experiment with the system on testnets and prepare for possible future activation once testing is complete.
If you want to learn more about how Tezos’ proposed Liquid Staking Token works, I go into it in more detail here: Understanding Tezos’ Proposed Liquid Staking Token (sTEZ).
Preparing for Quantum-Resistant Accounts #The other feature-flagged addition in Ushuaia is Post-Quantum User Keys, which are new types of accounts designed to resist future quantum computing attacks.
Put simply, these keys use cryptography that could stay secure even if powerful quantum computers exist down the line. You can think of them like stronger locks on a door, they make it much harder for a future technology to break in and compromise your funds.
Like the Liquid Staking feature, Post-Quantum User Keys are included behind a feature flag, which means they are currently for testing and experimentation only, and will not automatically activate on mainnet.
This is an early step in preparing Tezos for the next era of account security, giving developers and the community a chance to explore how these keys behave and integrate before wider adoption.
It’s worth mentioning that there was another feature suggested for Ushuaia that didn’t make it into the proposal. The reason? Community feedback during the heads-up process on Tezos Agora. Almost all features in this proposal went through that same loop, which clearly shows why this feedback loop is so important, the community’s input directly affects what features make it into the proposal.
Ushuaia is an important step forward for Tezos, bringing a range of features and refinements that will make the network’s foundations much stronger and prepare it for the future. As always, I’ve tried to keep this at a high level, so if you’re interested in more details about the individual features, check the announcement on the Nomadic Labs blog.
You can also follow the proposal’s progress through governance on Tezos Agora. The proposal is now live, so bakers can vote, and users should make sure their chosen baker is aware.
After all, governance is one of our strongest tools. Let’s put it to work!
FeaturedGeneralThe first public testnet where Michelson and EVM interact through a shared ledger
6 minute read
May 4, 2026
The Tezos X Previewnet is now live, giving builders their first public environment where the EVM and Michelson interfaces come together in a way that hasn’t been available before.
This testnet offers the first opportunity to experiment with applications that can interact across both environments as part of the same flow.
With that now available, developers can start deploying, testing, and seeing what this new model actually makes possible.
Let’s take a closer look at what’s being introduced here, why it matters, and how you can start experimenting with it.
One System, Not a Set of Workarounds #If you look at how most ecosystems are evolving, they tend to solve problems by adding more pieces.
Different environments, different layers, different chains, each doing its own thing. It works, but it also creates fragmentation. Assets live in one place, applications in another, and moving between them becomes part of the experience, often adding extra complexity, and in many cases, additional risk. Tezos X takes a different route.
Tezos X is designed to reduce that friction by bringing those environments closer together from the start. Within Tezos X, a single shared ledger can be addressed through both the EVM and Michelson interfaces. That design enables native atomic composability.
Native atomic composability is what allows contracts across different environments to interact natively within a single transaction so that either all actions succeed or none do, without requiring intermediary steps like bridging or wrapping assets.
For example, imagine a ticketing platform built with Michelson, where tickets are priced in tez. A buyer comes in holding USDC in a MetaMask wallet on the EVM side. Normally, that means extra steps, swapping, bridging, wrapping, and moving assets across boundaries before anything can actually happen.
Here, those boundaries don’t exist within the system. The EVM user can interact directly with the Michelson contract, and the payment and the purchase can happen together, in a single transaction, executed atomically. All-or-nothing. No bridging, no wrapping, no loose ends.
One action, one result. That’s where things start to get interesting when you’re building.
What This Actually Changes for Builders #Up until now, building usually meant committing to one environment. You pick your stack, your tools, your ecosystem, and everything follows from that.
With Tezos X, that trade-off starts to disappear.
If you’re already building with Solidity, you can keep doing exactly that. Same tooling, same workflows, same mental model. But now, you also have access to the Michelson side when it actually makes sense to use it. At the same time, if you’re building with Michelson, you’re no longer operating in a more isolated environment. You can tap directly into EVM-based users, assets, and liquidity without relying on external bridges or separate deployments.
That opens up a different kind of design space.
Some parts of your app can stay EVM-shaped, flexible, familiar, and easy to work with. But for parts where guarantees really matter, like how assets are handled or how certain rules are enforced, you can lean on the Michelson side.
Michelson contracts can be formally verified, meaning their behavior can be mathematically proven to match what they’re supposed to do. While this is something that can be done with EVM contracts too, it’s generally much easier to do in Michelson, as it was built from the start with formal verification in mind and you can even prove properties that are significantly harder to establish in EVM-based systems.
You don’t need to go deep into the theory to see the value, it simply gives you stronger guarantees where it counts. And with AI-assisted tooling putting formal methods within reach of almost any builder, it is becoming far easier to make use of those guarantees in practice. In an industry that keeps getting reminded how expensive smart contract failures can be, those guarantees are becoming much harder to overlook.
So instead of forcing everything into one model, you can start designing applications where both environments work together within the same transaction flow.
What Comes Next #Once you start thinking about it this way, the next step is seeing how it holds up.
This phase is about seeing how these interactions behave in real conditions, what feels intuitive, what breaks, and what needs to change before anything moves further. It’s where assumptions meet actual usage, and where things become clearer once people start building with it. How builders use it, and where it breaks, will shape what moves forward to mainnet.
And that next step isn’t far off. Following this phase, an Etherlink governance proposal is expected around June 2026. If approved by bakers, Tezos X moves to mainnet with both the EVM interface and the Michelson interface live and fully composable from day one.
If you want to get a broader picture of how all of this fits together, the Tezos X roadmap update goes into more detail on the direction of the project and what’s coming next.
Getting Started #At this point, the most useful thing isn’t another explanation, it’s actually using it. The testnet is live, the environment is there, and this is where builders come in.
Try things out, deploy something small, and see how it behaves. Push it a bit, break a few assumptions, and get a feel for how these interactions work when you’re actually building with them. And if something doesn’t work the way you expect, you can share feedback or ask questions in the dedicated Tezos X channel in the Tezos Discord.
If you want to get started, you can find everything you need here:
Developers behind the Tezos ecosystem launched a testnet prototype for private blockchain payments designed to resist future quantum computing attacks, as concerns grow that advances in quantum technology could eventually compromise existing blockchain privacy systems.
The prototype, called TzEL, uses post-quantum cryptography and zk-STARK proofs to shield transaction data and encrypted payment metadata that could otherwise be vulnerable to “harvest now, decrypt later” attacks, where encrypted blockchain data collected today is decrypted in the future, according to Tezos.
The prototype also uses Tezos’ Data Availability Layer to handle the larger proof sizes associated with post-quantum cryptography, which developers say has been one of the main technical barriers to building scalable quantum-resistant privacy systems onchain.
Source: Tezos
According to the project's whitepaper, the quantum-resistant zk-STARK proofs used by TzEL are roughly 300KB in size, significantly larger than privacy proofs commonly used in existing blockchain systems.
TzEL is currently live on the Tezos testnet and remains in development, while the broader Tezos (XTZ) ecosystem is still in the early stages of transitioning toward post-quantum cryptography.
The crypto industry ramps up post-quantum security effortsThe crypto industry increased efforts to prepare for quantum computing risks throughout April, as concerns continue to grow over the long-term security of blockchain cryptographic systems.
Two major validator clients on the Solana (SOL) network introduced a test version of a post-quantum signature system called Falcon, designed to help protect the blockchain against future quantum threats while minimizing performance tradeoffs.
Meanwhile, MARA Holdings launched the MARA Foundation to support Bitcoin network development, including research into quantum-resistant security measures.
Source: MARA Holdings
Coinbase researchers also said Algorand (ALGO) and Aptos (APT) appeared further along in preparing for potential quantum threats, citing efforts to integrate quantum-resistant cryptography into their networks.
However, the researchers warned that proof-of-stake blockchains may face greater exposure to quantum computing risks because of the signature systems used by network validators.
According to Bernstein researchers, the crypto industry has around three to five years to transition toward quantum-resistant cryptographic standards before quantum computing becomes a threat to Bitcoin (BTC) security.
But not everyone agrees. In May, Adam Back, an early cypherpunk and Bitcoin contributor, said that computers capable of breaking Bitcoin signatures are likely still at least 20 years away.
Magazine: Kraken’s $600M stablecoin firm, Huione scandal deepens: Asia Express
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
In brief Tezos launched TzEL, a post-quantum privacy system for blockchain payments on testnet. Arthur Breitman accused parts of the Bitcoin community of dismissing legitimate quantum risks. The project aims to protect encrypted blockchain transaction data from future decryption attacks. While practical quantum computers capable of breaking modern cryptography do not yet exist, Tezos co-founder Arthur Breitman said some pockets of the crypto industry are treating quantum computing like a conspiracy theory while ignoring a legitimate threat to blockchain privacy.
The warning comes as Tezos launches TzEL, a post-quantum privacy system on testnet designed to protect private payments and encrypted transaction data from future “harvest now, decrypt later” attacks. Breitman said Tezos is acting with “a sense of urgency,” while parts of the industry remain complacent about quantum threats in his view.
“Some projects are barely maintained and won’t be upgraded at all; but the important ones will be upgraded, mostly in a timely fashion,” Breitman told Decrypt.
Breitman took particular issue with some in the Bitcoin community promoting what he described as pseudo-scientific theories about quantum computing.
“There are Bitcoiners being applauded on stages for half-baked crank theories about quantum mechanics that fly in the face of established physics,” he said.
The cultural debate centers on whether blockchain networks should begin preparing now for a future where quantum computers could break the elliptic curve cryptography widely used across crypto today.
The concern is especially acute because blockchain data is permanent. By design, transactions and other data are stored publicly on-chain indefinitely, creating the potential for what security researchers call a “harvest now, decrypt later” attack.
In such a scenario, attackers collect blockchain data in the form of public keys and store them until quantum computers become powerful enough to break the cryptography protecting them, thus exposing private keys and allowing for funds to be stolen.
One challenge facing post-quantum privacy systems, however, is scale. Quantum-resistant zk-STARK proofs are substantially larger than the proofs used in many existing blockchain privacy tools, creating storage and throughput problems. Breitman said that Tezos is equipped to handle that challenge.
“Post-quantum shielded transactions can take up a lot of space,” he said. “Tezos has a functioning data availability layer that can absorb them without increasing the load for consensus nodes.”
The project remains experimental, and Breitman said several steps still need to happen before broader deployment. He added that Tezos has also started introducing post-quantum signature support for user accounts as part of a broader effort to prepare the network for future threats.
“The fact the encrypted memo can be decrypted in the future means there is value in switching early,” Breitman said. “Work to make the entirety of Tezos post-quantum is active and ongoing.”
Breitman argued the industry still has time to prepare for quantum threats, but warned that developers are underestimating how quickly that window could close. His comments also come as recent reports from quantum security firm Project Eleven warned that “Q-Day,” the point at which quantum computers become capable of breaking modern cryptography, could arrive as early as 2030.
“The main risk is complacency among developers,” he said. “Elliptic curve signatures won’t be broken in a few months, but there’s a good chance they’ll be broken in a few years. That leaves enough time to upgrade, but not enough to quibble.”
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Tezos launched TzEL, a post-quantum privacy system for blockchain payments on testnet. Arthur Breitman accused parts of the Bitcoin community of dismissing legitimate quantum risks. The project aims to protect encrypted blockchain transaction data from future decryption attacks. While practical quantum computers capable of breaking modern cryptography do not yet exist, Tezos co-founder Arthur Breitman said some pockets of the crypto industry are treating quantum computing like a conspiracy theory while ignoring a legitimate threat to blockchain privacy.
The warning comes as Tezos launches TzEL, a post-quantum privacy system on testnet designed to protect private payments and encrypted transaction data from future “harvest now, decrypt later” attacks. Breitman said Tezos is acting with “a sense of urgency,” while parts of the industry remain complacent about quantum threats in his view.
“Some projects are barely maintained and won’t be upgraded at all; but the important ones will be upgraded, mostly in a timely fashion,” Breitman told Decrypt.
Breitman took particular issue with some in the Bitcoin community promoting what he described as pseudo-scientific theories about quantum computing.
“There are Bitcoiners being applauded on stages for half-baked crank theories about quantum mechanics that fly in the face of established physics,” he said.
The cultural debate centers on whether blockchain networks should begin preparing now for a future where quantum computers could break the elliptic curve cryptography widely used across crypto today.
The concern is especially acute because blockchain data is permanent. By design, transactions and other data are stored publicly on-chain indefinitely, creating the potential for what security researchers call a “harvest now, decrypt later” attack.
In such a scenario, attackers collect blockchain data in the form of public keys and store them until quantum computers become powerful enough to break the cryptography protecting them, thus exposing private keys and allowing for funds to be stolen.
One challenge facing post-quantum privacy systems, however, is scale. Quantum-resistant zk-STARK proofs are substantially larger than the proofs used in many existing blockchain privacy tools, creating storage and throughput problems. Breitman said that Tezos is equipped to handle that challenge.
“Post-quantum shielded transactions can take up a lot of space,” he said. “Tezos has a functioning data availability layer that can absorb them without increasing the load for consensus nodes.”
The project remains experimental, and Breitman said several steps still need to happen before broader deployment. He added that Tezos has also started introducing post-quantum signature support for user accounts as part of a broader effort to prepare the network for future threats.
“The fact the encrypted memo can be decrypted in the future means there is value in switching early,” Breitman said. “Work to make the entirety of Tezos post-quantum is active and ongoing.”
Breitman argued the industry still has time to prepare for quantum threats, but warned that developers are underestimating how quickly that window could close. His comments also come as recent reports from quantum security firm Project Eleven warned that “Q-Day,” the point at which quantum computers become capable of breaking modern cryptography, could arrive as early as 2030.
“The main risk is complacency among developers,” he said. “Elliptic curve signatures won’t be broken in a few months, but there’s a good chance they’ll be broken in a few years. That leaves enough time to upgrade, but not enough to quibble.”
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Recently, Bitcoin (BTC) and altcoins have been warned that the quantum computing threat poses a significant risk and that urgent action is needed.
While many altcoins have taken significant steps in this regard, the latest move comes from Tezos (XTZ).
Tezos has launched TzEL, a post-quantum privacy system for blockchain payments, on its testnet.
Speaking to Decrypt, Tezos co-founder Arthur Breitman emphasized the importance of prioritizing the treatment of quantum risk, while also criticizing some groups.
At this point, Breitman stated that some segments of the crypto industry are treating quantum computing like a conspiracy theory, ignoring a legitimate threat to blockchain privacy, and underestimating the real threats it poses.
Breitman stated that Tezos acted “urgently,” while some parts of the industry, in his opinion, remained indifferent to quantum threats.
According to Breitman, the quantum threat should be a very serious concern. This is because blockchain data is persistent. By its very nature, transactions and other data are stored publicly on the chain indefinitely. This creates the potential for what attackers call a “collect now, decrypt later” attack. In such a scenario, attackers collect blockchain data in the form of public keys and store them until quantum computers become powerful enough to break the encryption protecting them.
Breitman concluded by stating that the project is still in the experimental phase and that several more steps need to be taken before it can be deployed on a wider scale. He also added that Tezos has begun offering post-quantum signature support for user accounts as part of its efforts to prepare the network for future threats.
“Work to fully transform Tezos into a post-quantum state is active and ongoing.”
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Developers behind the Tezos ecosystem launched a testnet prototype for private blockchain payments designed to resist future quantum computing attacks, as concerns grow that advances in quantum technology could eventually compromise existing blockchain privacy systems.
The prototype, called TzEL, uses post-quantum cryptography and zk-STARK proofs to shield transaction data and encrypted payment metadata that could otherwise be vulnerable to “harvest now, decrypt later” attacks, where encrypted blockchain data collected today is decrypted in the future, according to Tezos.
The prototype also uses Tezos’ Data Availability Layer to handle the larger proof sizes associated with post-quantum cryptography, which developers say has been one of the main technical barriers to building scalable quantum-resistant privacy systems onchain.
Source: Tezos
According to the project's whitepaper, the quantum-resistant zk-STARK proofs used by TzEL are roughly 300KB in size, significantly larger than privacy proofs commonly used in existing blockchain systems.
TzEL is currently live on the Tezos testnet and remains in development, while the broader Tezos (XTZ) ecosystem is still in the early stages of transitioning toward post-quantum cryptography.
The crypto industry ramps up post-quantum security effortsThe crypto industry increased efforts to prepare for quantum computing risks throughout April, as concerns continue to grow over the long-term security of blockchain cryptographic systems.
Two major validator clients on the Solana (SOL) network introduced a test version of a post-quantum signature system called Falcon, designed to help protect the blockchain against future quantum threats while minimizing performance tradeoffs.
Meanwhile, MARA Holdings launched the MARA Foundation to support Bitcoin network development, including research into quantum-resistant security measures.
Source: MARA Holdings
Coinbase researchers also said Algorand (ALGO) and Aptos (APT) appeared further along in preparing for potential quantum threats, citing efforts to integrate quantum-resistant cryptography into their networks.
However, the researchers warned that proof-of-stake blockchains may face greater exposure to quantum computing risks because of the signature systems used by network validators.
According to Bernstein researchers, the crypto industry has around three to five years to transition toward quantum-resistant cryptographic standards before quantum computing becomes a threat to Bitcoin (BTC) security.
But not everyone agrees. In May, Adam Back, an early cypherpunk and Bitcoin contributor, said that computers capable of breaking Bitcoin signatures are likely still at least 20 years away.
Magazine: Kraken’s $600M stablecoin firm, Huione scandal deepens: Asia Express
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
PANews reported on May 15th, citing Cointelegraph, that Tezos ecosystem developers have launched a prototype private blockchain payment testnet called TzEL, designed to withstand future quantum computing attacks. This prototype uses post-quantum cryptography and zk-STARK proofs to protect transaction data and encrypted payment metadata, preventing "collect first, decrypt later" attacks. TzEL leverages Tezos' data availability layer to handle the larger proof size (approximately 300KB) introduced by post-quantum cryptography, which was one of the main technical obstacles to building scalable on-chain quantum-resistant privacy systems. TzEL is currently running on the Tezos testnet and is still under development; the transition of the Tezos ecosystem to quantum-resistant cryptography is still in its early stages.
Key Highlights TzEL, Tezos’ post-quantum privacy solution, is now operational on testnet for blockchain transactions The system combines post-quantum cryptographic methods with zk-STARK proofs to secure payment information against future quantum threats Arthur Breitman, Tezos co-founder, called out crypto community members for underestimating quantum computing dangers Project Eleven, a quantum security company, suggests Q-Day might occur by 2030 Analysts at Bernstein estimate a three-to-five-year window for the sector to adopt quantum-safe protocols The Tezos network has rolled out TzEL on its testnet, a quantum-resistant privacy framework built to safeguard blockchain transaction information against emerging quantum computing capabilities.
🔍 Private transactions today may not stay private forever.
Built using quantum-resistant cryptography via STARK proofs and Tezos Smart Rollup technology.
Learn more ↓
🔗…
— Tezos (@tezos) May 14, 2026
TzEL leverages post-quantum cryptographic techniques alongside zk-STARK proofs to secure both transaction details and encrypted payment information. The technology targets what security experts call “harvest now, decrypt later” scenarios, where adversaries capture encrypted blockchain information today with plans to decode it once quantum computers become sufficiently advanced.
Public blockchain ledgers maintain records indefinitely. This permanence creates long-term vulnerability, as information recorded currently could become accessible once quantum technology matures sufficiently.
A key technical hurdle for quantum-safe systems involves data volume. TzEL’s zk-STARK proofs measure approximately 300KB per proof—significantly larger than privacy verification methods in current blockchain applications. According to Tezos, its Data Availability Layer architecture accommodates these expanded proof sizes while keeping consensus node operations unaffected.
Currently operational on testnet, TzEL remains under active development. The platform is simultaneously developing quantum-resistant signature capabilities for user wallets as part of comprehensive network enhancement initiatives.
Conflicting Views on Quantum Timeline Arthur Breitman, who co-founded Tezos, emphasized the project is moving proactively while much of the sector stays passive. He specifically targeted certain members of the Bitcoin ecosystem.
“There are Bitcoiners being applauded on stages for half-baked crank theories about quantum mechanics that fly in the face of established physics,” Breitman said.
His urgency isn’t universally accepted. Adam Back, a pioneering Bitcoin developer, believes systems powerful enough to compromise Bitcoin cryptography remain two decades away. Michael Shaulov, CEO of Fireblocks, has similarly downplayed concerns, stating the quantum danger is “not actually a threat as people make it out to be.”
Breitman rejected this perspective. “Elliptic curve signatures won’t be broken in a few months, but there’s a good chance they’ll be broken in a few years,” he said. “That leaves enough time to upgrade, but not enough to quibble.”
Project Eleven, specializing in quantum security, has projected that Q-Day—when quantum computers can compromise current encryption standards—might materialize as soon as 2030.
Broader Ecosystem Response Tezos isn’t operating in isolation on quantum preparedness. The Solana ecosystem saw two prominent validator clients release experimental implementations of Falcon, a post-quantum signature protocol, this past April.
MARA Holdings established the MARA Foundation to advance Bitcoin technology development, with quantum-resistant security among its research priorities. Analysts at Coinbase identified Algorand and Aptos as blockchain networks with notable progress in quantum-resistant cryptography implementation.
Researchers at Bernstein project a three-to-five-year timeframe for the cryptocurrency sector to complete its transition before quantum computing poses genuine risks to Bitcoin infrastructure.
Breitman identified developer inaction as the primary concern. “Work to make the entirety of Tezos post-quantum is active and ongoing,” he added.
Quick Answer: Tezos (XTZ) is trading near $0.33–$0.40 as of May 2026, down approximately 96% from its all-time high of $9.12 (October 2021). Analyst forecasts for 2026 range from $0.362 (Changelly conservative) to $2.46 (Coinpedia bull case). For 2030, projections span from $0.217 (Changelly base model) to $5.00 (Cryptopolitan bull). Key catalysts include the Tezos X scalability upgrade in H1 2026, Etherlink’s EVM-compatible Layer 2 growth, the Seoul protocol upgrade (September 2025), and Fortify Labs’ $1.3M startup accelerator open to Tezos and Etherlink builders.
Key Takeaways:
XTZ trades ~96% below its October 2021 ATH of $9.12; ranked #97 globally with a $380M+ market cap Tezos X — a major scalability upgrade improving transaction speed — is in H1 2026 deployment Seoul upgrade (September 19, 2025): native multisig, aggregated attestations, one-click un-staking Tezos Art Ecosystem sold 500K+ NFTs in 2025; 243,000+ museum visitors introduced to blockchain art 2026 base case consensus: $0.36–$1.10; bull case $2.46 requires Etherlink and Tezos X adoption momentum What Is Tezos (XTZ)? Tezos is an open-source Layer 1 blockchain built for smart contracts and decentralized applications, founded by Arthur Breitman and Kathleen Breitman. Its mainnet launched in September 2018 after one of the largest ICOs in history — raising $232 million in 2017. Tezos operates on a proof-of-stake consensus mechanism and is notable for its self-amending protocol: the blockchain can upgrade itself through an on-chain governance process that does not require hard forks.
XTZ is the native cryptocurrency used for transaction fees, staking (“baking”), governance participation, and delegation rewards. Token holders who stake XTZ (called “bakers”) earn rewards for validating blocks — currently approximately 4–6% annually — while holders who delegate to bakers earn similar yields without running infrastructure.
Tezos has completed 19 protocol upgrades since mainnet launch, with the 19th upgrade (“Seoul”) activating on September 19, 2025. The upcoming Tezos X upgrade in H1 2026 is its most ambitious scalability milestone — improving transaction throughput while maintaining the security model that has kept Tezos hack-free since 2018.
The Etherlink Layer 2 is Tezos’ strategic expansion into EVM compatibility: an optimistic rollup on Tezos that allows Solidity developers to deploy Ethereum-compatible smart contracts, bridging Tezos’ governance and security with Ethereum’s developer tooling and DeFi ecosystem.
According to CoinMarketCap, XTZ has a circulating supply of approximately 1.01 billion tokens and a market capitalization of approximately $380–400 million as of May 2026.
How Does Tezos Compare to Other Smart Contract Layer 1s? Tezos occupies a niche focused on governance, formal verification, and long-term institutional adoption rather than speculative DeFi velocity.
FeatureTezos (XTZ)Ethereum (ETH)Cardano (ADA)Algorand (ALGO)ConsensusProof-of-StakeProof-of-StakeProof-of-StakePure PoSHard forksNever (self-amending)MultipleMultipleRareSmart contractsYes (Michelson + Ligo)Yes (Solidity)Yes (Plutus)Yes (Python/TEAL)EVM compatibilityEtherlink L2NativeNoNoMarket cap (May 2026)~$380M~$290B~$17B~$700MBlock time10 seconds~12 seconds~20 seconds~3.3 secondsProtocol upgrades19 (no hard forks)Multiple hard forksMultipleMultipleNFT ecosystemActive (500K+ sales 2025)DominantGrowingGrowing Tezos’ unique selling point — the no-hard-fork self-amending protocol — has enabled 19 consecutive upgrades without the community splits that plagued Ethereum Classic and Bitcoin Cash. The trade-off is slower developer adoption compared to Ethereum and Solana.
Tezos (XTZ) Price Today and Market Overview MetricValue (May 2026)Price~$0.33–$0.40Market Cap~$380–400M24h Volume~$15–20MCMC Rank~#97ATH$9.12 (Oct 4, 2021)ATH Drop~96%Circulating Supply~1.01B XTZ As of May 2026, XTZ is trading near $0.33–$0.40. Changelly’s current technical data shows XTZ at $0.38, ranked #97 globally, with bearish sentiment at 57% and a Fear & Greed Index near 38 (Fear). Both the 50-day and 200-day moving averages are above current price, acting as resistance.
Despite weak price action, Tezos has been delivering consistent development milestones. Fortify Labs opened 2026 applications offering up to $1.3 million for startups building on Tezos or Etherlink — a seven-month program with two in-person off-sites in Singapore, targeting integration and growth-stage projects. The Tezos Art Ecosystem sold over 500,000 NFTs in 2025, introduced 243,000+ museum visitors to blockchain art at the Museum of the Moving Image (MoMI), and staged Art on Tezos Berlin as a three-day digital art festival.
The September 2025 Seoul protocol upgrade introduced native multisig support, aggregated attestations for faster finality, and a simplified one-click un-staking mechanism — keeping Tezos competitive for institutional-grade dApp developers.
XTZ Price History Snapshot YearKey Price Level2018Mainnet launch ~$1.60–$4.002019Declined to $0.30–$1.502020Range $1.50–$3.50Oct 2021ATH $9.122022Bear market; fell to $1.00–$2.002023Range $0.50–$1.102024Post-halving recovery $0.60–$1.70Sep 2025Seoul upgrade; trading ~$0.80–$1.10May 2026Near $0.33–$0.40 Tezos’ October 2021 ATH of $9.12 was driven by the broader altcoin mania and NFT adoption (Red Bull, McLaren F1, DojaCat, Toulouse FC all announced Tezos NFT partnerships). The current price of $0.33–$0.40 represents the deepest pullback since early 2019, approaching levels not seen since shortly after mainnet launch.
XTZ Price Prediction 2026 2026 is potentially transformative for Tezos. The Tezos X scalability upgrade in H1 2026 is the most ambitious technical milestone since mainnet launch, and the Etherlink L2’s EVM compatibility creates a new growth surface.
SourceLowHighNotesChangelly$0.362$0.381Conservative; near current levelsMEXC (5% linear)$0.33$0.36Flat growth modelCoinbird$0.74$1.65Avg $1.22; moderate recoveryCryptopolitan—$0.50Q2 2026 targetCoinpedia$0.70$2.46Bull case; Tezos X + Etherlink neededMargex—$16.35Aggressive bull (5-year horizon figure) Changelly and MEXC represent the floor — XTZ drifting near current levels without a macro catalyst. Coinbird’s $0.74–$1.65 range (avg $1.22) is the base recovery scenario, requiring the Tezos X upgrade to demonstrate visible performance improvements. Coinpedia’s $0.70–$2.46 is the bull case: Etherlink attracting EVM developers, Tezos X improving throughput metrics, and Bitcoin-driven capital rotation reaching mid-cap governance blockchains.
For 2026 planning, the realistic range is $0.36–$1.10. The $1+ zone requires the Tezos X upgrade to generate measurable developer activity and at least one new institutional NFT or tokenization partnership.
XTZ Price Prediction 2027 2027 is the prime post-halving altcoin window. Tezos’ no-hard-fork architecture and institutional NFT ecosystem give it a differentiated narrative for capital rotation.
SourceLowHighChangelly$0.40$0.45Coinbird~$0.80~$2.00Margex$14.06~$18Coinpedia—$3.91Cryptopolitan—~$3.00+ Changelly stays near $0.40–$0.45 — minimal appreciation without a fundamental catalyst. Coinpedia’s $3.91 and Cryptopolitan’s $3.00+ represent a meaningful recovery scenario where Tezos captures developer mindshare via Etherlink and governance-first positioning. Margex’s $14.06 minimum (described as a five-year outlook figure) is the aggressive bull case — XTZ returning to $9 ATH territory — requiring a full-cycle altcoin mania with Tezos at the center.
XTZ Price Prediction 2028 2028 is the next Bitcoin halving year — the historical trigger for Tezos’ largest cycle gains.
SourceLowHighChangelly$0.18$0.27Coinpedia—$6.15Cryptopolitan~$2.00~$5.00 Changelly’s 2028 model declines below current prices — a structural bear case where Tezos loses market share to newer Layer 1s. Coinpedia’s $6.15 treats 2028 as a halving-cycle peak where Tezos’ institutional adoption becomes visible enough to drive meaningful capital inflows. Cryptopolitan’s $2–$5 range is the moderate scenario — XTZ recovering to 2023–2024 trading levels.
XTZ Price Prediction 2029 SourceLowHighChangelly$0.18$0.27Coinpedia—$8.08Cryptopolitan$0.75$4.50 2029 is the late-cycle bull phase. Coinpedia’s $8.08 approaches XTZ’s $9.12 ATH — plausible if Tezos X, Etherlink, and the institutional art/tokenization narrative drive two years of compounding adoption. Cryptopolitan’s $0.75–$4.50 range captures both a moderate recovery and a near-ATH scenario. Changelly’s floor of $0.18–$0.27 remains structurally bearish.
XTZ Price Prediction 2030 2030 is the most debated long-term horizon for XTZ.
SourceLowHighChangelly$0.180$0.267MEXC (5%)—~$0.41DigitalCoinPrice—~$1.45Coinbird—~$3.00+Coinpedia—$9.00+Cryptopolitan$0.55$5.00 Changelly’s 2030 floor ($0.180–$0.267) represents actual decline from current prices — a scenario where Tezos’ governance and security advantages are overshadowed by developer ecosystem deficits. MEXC’s flat $0.41 is minimal appreciation. DigitalCoinPrice’s $1.45 and Coinbird’s $3+ represent base-to-moderate bull scenarios. Coinpedia’s $9+ and Cryptopolitan’s $5 max treat 2030 as a potential full recovery to ATH territory — achievable if Etherlink establishes meaningful DeFi TVL and Tezos becomes a recognized institutional tokenization chain.
What Drives Tezos (XTZ)’s Price? Tezos X scalability upgrade (H1 2026). Tezos X is the most technically ambitious upgrade in the protocol’s history — targeting significant throughput improvements while maintaining the formal verification and security properties that make Tezos attractive for institutional applications. Successful deployment and demonstrable performance improvements are the single most important near-term price catalyst.
Etherlink L2 growth. Etherlink is Tezos’ bridge to Ethereum’s developer base: an EVM-compatible optimistic rollup that allows Solidity developers to deploy on Tezos infrastructure. Growing Etherlink TVL and dApp deployments create a new, measurable demand signal for XTZ.
Protocol upgrade cadence. Tezos’ ability to complete its 19th upgrade without a hard fork is a structural differentiator. Each successful upgrade increases institutional confidence that Tezos can deliver governance improvements at scale — directly relevant to enterprise and government tokenization clients.
NFT and digital art ecosystem. The Tezos art ecosystem processed 500,000+ NFT sales in 2025 and has reached 243,000+ new blockchain users through museum partnerships. Growing cultural relevance drives both developer interest and organic token demand from collectors who need XTZ to transact on the network.
Fortify Labs startup pipeline. The Fortify Labs $1.3M accelerator for 2026 creates a structured pipeline of new projects building on Tezos and Etherlink. If the cohort produces successful consumer-facing dApps, it generates the on-chain activity that translates to organic XTZ demand.
Bitcoin halving cycles. XTZ remains highly correlated with Bitcoin market cycles. The 2028 halving is the next major macro trigger. Tezos’ institutional positioning — rather than pure retail speculation — may provide a more defensible price floor during bear markets but also slower appreciation during bull phases.
Is Tezos (XTZ) a Good Investment? XTZ at $0.33–$0.40 prices it near its 2019 lows — before most of its institutional NFT partnerships, its Etherlink L2, and its current Seoul upgrade. The fundamental case for Tezos is stronger now than at this price level in 2019 by most objective measures: more institutional adoption, more protocol upgrades delivered, more ecosystem infrastructure.
The bear case: Tezos has been unable to break out of its structural narrative problem — it is technically sophisticated but has consistently failed to build the DeFi TVL or developer community depth that its architecture merits. Changelly’s 2030 floor of $0.18 is a credible outcome if Etherlink and Tezos X fail to close the gap with Ethereum L2s and other modern Layer 1s.
For investors who believe governance-first, no-hard-fork blockchains will become the standard for institutional tokenization by 2030, XTZ near six-year lows offers asymmetric exposure to that thesis.
Nothing in this article constitutes financial advice. Cryptocurrency investments carry substantial risk.
Where to Buy Tezos (XTZ) Centralized exchanges (CEX):
Binance — XTZ/USDT and XTZ/BTC; highest global liquidity Coinbase — XTZ/USD for US users; available in most US states Kraken — XTZ/USD and XTZ/EUR with strong regulatory compliance KuCoin — XTZ/USDT with competitive fees Gate.io — XTZ/USDT available globally OKX — XTZ/USDT spot and staking options Staking (Baking/Delegation): XTZ holders can delegate their stake to bakers directly in Coinbase, Kraken, or dedicated wallets including Kukai, Temple Wallet, and Ledger. Annual staking rewards are currently approximately 4–6%. Delegation does not lock tokens — delegated XTZ can be transferred at any time. For users committed to long-term XTZ exposure, staking is the recommended approach to avoid dilution from the protocol’s block reward issuance.
Self-custody wallets: The official Tezos-supported wallets are Kukai (web), Temple Wallet (browser extension + mobile), and Umami (desktop). All three support delegation staking directly within the interface.
Frequently Asked Questions What is the Tezos price prediction? For 2026, forecasts range from $0.362 (Changelly conservative) to $2.46 (Coinpedia bull). Coinbird projects a base average of $1.22. MEXC's flat model stays near $0.36. The base case consensus is $0.36–$1.10, with the upper end requiring Tezos X deployment success and Bitcoin-driven altcoin recovery. Above-base scenarios require Etherlink capturing DeFi TVL and new institutional tokenization partnerships.
How high can XTZ go? In a moderate 2030 bull scenario, Cryptopolitan projects $5.00 and Coinpedia targets $9+. DigitalCoinPrice estimates $1.45 for 2030. Coinbird targets $3+. Reaching $5 by 2030 would require XTZ to recover toward its 2021 ATH range — achievable across two halving cycles if Tezos X and Etherlink drive measurable adoption. Changelly's base 2030 model is $0.18–$0.27, representing continued decline.
Will XTZ reach $1 again? XTZ last traded above $1 in late 2024 before the current correction. Coinpedia's 2026 base case targets $0.70–$2.46, making $1 achievable in a moderate recovery scenario. For $1 before year-end 2026, XTZ needs a confirmed close above current 200-day SMA resistance and either the Tezos X upgrade showing visible performance metrics or a Bitcoin-driven broad altcoin recovery. Coinbird's $1.22 average for 2026 represents the most cited realistic $1+ scenario.
What is the XTZ price prediction for 2030? The 2030 range is wide. Changelly projects $0.18–$0.27 (structural decline). MEXC's flat model estimates $0.41. DigitalCoinPrice targets $1.45. Coinbird forecasts $3+. Coinpedia's bull case reaches $9+. Cryptopolitan projects $0.55–$5.00. The most cited realistic planning range for 2030 is $1–$5, depending on whether Tezos X and Etherlink translate into measurable developer adoption through two halving cycles.
What makes Tezos different from other blockchains? Tezos' primary differentiator is its self-amending protocol — it has completed 19 upgrades since 2018 without a single hard fork. This means no community splits, no wasted capital on competing chains, and institutional confidence in long-term protocol stability. Tezos also uses formal verification for smart contracts, reducing exploit risk. The Etherlink L2 provides EVM compatibility without abandoning Tezos' governance model.ShareContentThe theoretical threat of quantum computers to Bitcoin’s cryptographic security now has a dollar figure: $469 billion. That’s the value of 6.04 million BTC, or 30.2% of the total issued supply, whose public keys are exposed on-chain today and could be exploited if a sufficiently powerful quantum compastedQuick Answer: AMP is currently trading near $0.000841, down roughly 99.3% from its June 2021 all-time high of $0.1208. Third-party forecasts for 2026 range widely — from $0.0009 on the bearish end (CoinCodex) to $0.0100 on the bullish end (PricePrediction.net) — with the base-case consensus sitting pasted
Manchester United is gearing up for a busy summer transfer window, targeting at least one new midfielder and potentially a forward to strengthen its squad.
United’s primary midfield target appears to be Ederson, the Brazilian currently at Atalanta. The club is reportedly in advanced negotiations, with a target fee hovering around £38 million. His contract with the Italian side runs through 2027, giving Atalanta some leverage but not an overwhelming amount.
Beyond Ederson, the club has been linked to several other midfield options. Names like Mateus Fernandes, Sandro Tonali, and Carlos Baleba have circulated as alternative or complementary targets.
Advertisement
The Tezos deal and XTZ’s rough stretch Manchester United signed a training kit sponsorship deal with Tezos back in February 2022. The partnership was valued at more than £20 million per year, making it one of the more significant crypto-sports tie-ups in European football at the time.
The XTZ token has dropped roughly 70% from its peak levels during the partnership era. There have been NFT initiatives launched on the Tezos network as part of the collaboration, but no new crypto-specific developments or token-related announcements have accompanied the current wave of transfer news.
The unofficial fan token problem Separate from the Tezos deal, a community-driven Manchester United Fan Token, trading under the MUFC ticker, exists on the BNB Chain. It carries no official endorsement from the club.
The broader Premier League landscape has not been kind to fan token ambitions. Multiple clubs have faced pushback from supporter groups who view tokenized engagement as a monetization scheme that extracts money from loyal fans without delivering meaningful value.
What this means for investors No measurable crypto market movements have been tied to Manchester United’s current transfer pursuits. XTZ’s price action is driven by broader market dynamics, developer activity, and competitive positioning against other Layer 1 blockchains, not by whether Ederson signs for £38 million.
For anyone holding XTZ, the Tezos-United partnership is worth monitoring primarily for renewal signals. A deal valued at over £20 million annually represents significant spending for a protocol whose token has been in a prolonged downturn.
The MUFC token on BNB Chain lacks official club backing, meaning its value proposition rests almost entirely on community sentiment and speculative trading. The club has no obligation to support its existence.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tezos (XTZ) has jumped 6.66% to $0.2514, trading above its 20-day and 50-day simple moving averages on strong intraday buying pressure, according to data tracked by Traders Union. The rally, however, runs into a wall of long-term resistance, with the token still well below its 200-day moving average.
Short-Term Indicators Flash Bullish While Long-Term Trend Resists XTZ’s MACD and ADX both signal ongoing bullish momentum on the prevailing timeframe, and its RSI generates a buy signal, per TradingView chart data. The Ichimoku Kijun line provides immediate support at $0.24035. The Bulls Bears Power indicator also points to strong buyer dominance during the session.
Yet the Commodity Channel Index has moved into overbought territory, and both the Stochastic RSI and Awesome Oscillator return neutral readings. That divergence between short-term strength and medium-term caution suggests the rally may face headwinds. Elevated volatility, a recurring feature in XTZ’s recent sessions, adds to the uncertain setup.
An Analyst Sees Limited Upside Without A Long-Term Breakout Anton Kharitonov, an analyst at Traders Union, noted that Tezos is holding above its 20-day and 50-day moving averages with mixed technical signals. “I remain defensive here,” Kharitonov wrote in his analysis. “Until XTZ/USD overcomes its long-term resistance, the upside looks limited.”
Kharitonov expects sideways movement unless key support or resistance levels are breached. His projected two-to-three-day trading range spans $0.2156 to $0.2574, with a 67% probability assigned to a downward move and only 33% to an upside breakout.
Analysis: A Pattern of Spikes and Reversals The 6.66% gain follows a string of sharp single-day moves in both directions. Tezos surged 10.02% in a prior session before facing heavy selling pressure, and reports of Manchester United sponsorship talks pushed XTZ 7.2% higher earlier this week. Each rally has so far been met with swift retracements, creating a choppy range rather than a sustained uptrend.
That pattern is consistent with low-capitalization tokens caught between speculative catalysts and thin liquidity. Until trading volume deepens or a fundamental catalyst shifts the 200-day moving average, these percentage moves are more noise than signal for longer-term positioning.
Manchester United Link Adds A Speculative Layer Tezos has drawn attention after reports linked it to a potential sponsorship arrangement with Manchester United, contributing to this week’s 7.2% spike.
No formal deal has been confirmed, and the previous session’s selling pressure suggests traders are treating the headline as a short-term catalyst rather than a structural shift. A confirmed partnership could alter that calculus if it brings sustained visibility and transaction volume to the network.
What’s Next? Near-term direction depends on whether XTZ can hold the $0.2156 support floor identified in Traders Union’s projected range. A confirmed break above $0.2574 would signal a potential shift in the short-term trend, while a move below support could accelerate selling toward levels not seen since earlier this quarter.
Resolution of the Manchester United sponsorship reports could also serve as the next meaningful catalyst for the token.
VeWorld is VeChain's 'Super-App' - our self-custody wallet and gateway into the VeChain and VeBetter ecosystems. Developed and maintained by an expert in-house team, VeWorld allows you to manage digital assets while connecting to a world of dApps and experiences.
With over 4 million downloads to date and a continuous stream of updates, VeWorld is the premier wallet for VeChain users – and we’ve some major updates planned for it in the coming months that we're excited to unveil.
Whether you're an OG or just getting started exploring VeChain's ecosystem, this guide will help you unlock VeWorld's full potential.
Getting Started1. Download and InstallationGetting VeWorld is simple and secure. The wallet is available across multiple platforms:
Mobile Apps: Download from the App Store for iOS or Google Play for Android
Browser Extension: Available on the Chrome Web Store for desktop users
Official Website: Visit veworld.com for direct download links
VeWorld supports all major browsers and mobile devices, ensuring you can access your assets from anywhere.
2. Create Your AccountVeWorld is built as a complete self-custody solution, empowering users by generating private keys locally. This means you maintain complete control over your assets with no middlemen involved.
When setting up VeWorld, you can:
Create a new wallet with a secure mnemonic phrase
Import existing wallets using your seed phrase, private key, or keystore
Connect a Ledger hardware wallet for maximum security
3. Adding Funds to Your WalletVeWorld offers multiple ways to fund your wallet, making it accessible for both crypto newcomers and experienced users.
From Cryptocurrency Exchanges
To transfer funds from an exchange:
Open VeWorld and navigate to your wallet
Find your VeChain address (it starts with "0x")
Copy this address to your exchange's withdrawal section
Send VET or other VeChain-based tokens to this address
Always double-check the address before confirming any transaction, as blockchain transfers are irreversible.
Direct Purchases with Transak, Coinbase
VeWorld has integrated on-ramp solutions, enabling users to purchase VET and VTHO directly from VeWorld. This integration supports multiple payment methods, including:
Credit and debit cards
Apple Pay (for iOS users)
Google Pay
Bank transfers
Fiat ramp integrations addresses previous limitations and cater to users who prefer convenient payment methods, such as Apple Pay. The process is streamlined and typically completes within one to two minutes.
4. Claim Your VET DomainOne of VeWorld's unique features is native support for VET domains, which replace complex wallet addresses with easy-to-remember names. Instead of sharing a long string of characters, you can use a personalized domain for receiving payments.
When you create a new address, you will be prompted to ‘claim your username'. Clicking on the button will take you through the process, which only takes a few minutes.
The Discovery Tab: Your Super App GatewayVeWorld's Discovery tab demonstrates why VeWorld itself is a true super app – providing seamless access to an entire ecosystem of applications from a single, unified interface.
VeBetter X-To-Earn Applications
VeBetter is a Web3 platform of apps that turn positive actions into rewards. Through the Discovery tab, you can access sustainability-focused applications that reward you with B3TR tokens for activities like:
Using electric vehicles (Evearn)
Choosing sustainable food options (GreenCart)
Reducing single-use cups (Mugshot)
Participating in environmental cleanups (Cleanify)
Exercising and staying healthy (Build Your Body)
and many more!
VeWorld's simplistic interface makes accessing VeBetter applications effortless, letting you bring VeChain in to your daily life, and earn rewards for things you can do everyday.
VeBetter, to date, has amassed over 4 million users, and seen 30 million tokenized actions recorded on-chain, speaking to rapid growth powering our flagship X-2-Earn ecosystem.
Download VeWorld and head to VeBetter to discover apps you and your friends can enjoy daily!
Digital AssetsVeWorld's intuitive interface puts complete asset control at your fingertips.
The main dashboard provides an overview of VET and VTHO balances, accompanied by real-time fiat values as well as other VeChain tokens from dApps and projects within the ecosystem. NFTs are displayed through a dedicated NFT tab that lets you experience your collection from one viewing point.
Users can customize your experience with USD or EUR display options, toggle between dark and light themes, and manage multiple wallets seamlessly within the same interface. The platform's flexibility extends to custom token support, making it simple to add contracts for tokens created on VeChain's VORJ platform, or other vectors.
DeFi and NFT ApplicationsVeWorld's Discovery tab also opens the door to VeChain's expanding DeFi and NFT ecosystem. Connect securely to decentralized exchanges, lending protocols, NFT marketplaces, and emerging Web3 applications – all through VeWorld's integrated dApp browser that prioritizes both security and seamless user experience.
StarGate Portal: Direct Access to VeChain's Staking RevolutionStarGate is VeChain's new NFT-based staking platform, allowing users to stake VET, mint Delegator NFTs, and earn VTHO rewards. New node tiers have been introduced following the update, adding tiers requiring collateral starting from 10,000 $VET tokens.
Stake VET for Enhanced Rewards: Take advantage of new Node tiers designed for broader ecosystem participation, with projected staking rewards that could increase from 1-2.5% to as high as 9.1% under the new system.
Mint Delegator NFTs: Receive unique NFTs that represent your staked collateral and provide access to VTHO rewards, governance rights, and ecosystem privileges.
Migrate Legacy Nodes: Seamlessly transition existing X-Nodes or Economic Nodes to the new StarGate system while maintaining your tier benefits.
Participate in Governance: Use your staking position to influence protocol decisions and shape VeChain's future development.
Access Exclusive Benefits: Enjoy VeBetter privileges, Discord roles, and other ecosystem integrations exclusive to StarGate participants.
StarGate is backed by a ~$15 million bonus pool over six months to incentivize early adopters, so, head to stargate.vechain.org and get started!
Learn more about StarGate: https://x.com/vechainofficial/status/1940036338310422953
Download VeWorld and Get StartedVeWorld delivers everything you expect from a great crypto wallet: secure self-custody, seamless digital asset management, a world of rewarding apps, and staking. You can even pay for transactions in B3TR or VET tokens, following a recent update, so you'll never struggle to send transactions.
VeWorld's 'Super app' role has helped transform VeChain's ecosystem in to an active, engaged ecosystem, bringing together teams, builders and communities across the world through VeBetter.
Join millions earning sustainability rewards, participating in NFT-powered staking, and contributing to the improvement of the ecosystem at-large - al through VeWorld.
Whether you're porting a Solidity project from Ethereum, spinning up your first blockchain application, or architecting enterprise-grade infrastructure, VeChainThor gives you battle-tested foundations that have been running at scale since 2018 — with 100% uptime, over 530 million transactions processed, and more than 300 enterprise applications deployed.
This guide is your orientation. It covers where everything lives, the core concepts you'll use on day one, the tooling that will accelerate your workflow, and the best practices that separate a working prototype from a production-ready application.
Who This Guide Is ForThis resource is designed for Web2 and Web3 engineers, solution partners, hackathon teams, and technical product managers. Whether you're an experienced VeChain developer or exploring this EVM-compatible blockchain for the first time, you'll find familiar Solidity patterns alongside VeChain-specific capabilities that solve real problems Ethereum can't. If you're new to blockchain development entirely, VeChain's tooling is specifically designed to flatten that learning curve.
1. Orientation: Where Everything LivesBefore writing a single line of code, get familiar with the landscape. VeChain's developer ecosystem is organised around a central documentation hub with purpose-built tools branching from it.
The Developer Resources HubYour starting point is docs.vechain.org/developer-resources. This is the single source of truth for concepts, how-to guides, SDK references, and example dApps. It's structured around the tasks you'll actually perform: reading data, writing data, deploying contracts, and connecting front-ends.
From here, you'll find direct paths to:
· Core concepts — transactions, accounts, blocks, and the two-token model
· How to build — step-by-step guides for reading and writing on-chain data
· SDKs and providers — the VeChain SDK, Thor Client, and integration patterns
· Frameworks and IDEs — Hardhat plugin, Remix integration, and development environments
2. Core Concepts You'll Use on Day OneVeChainThor is EVM-compatible, but it was never a copy-paste of Ethereum. The protocol made deliberate engineering decisions to solve problems Ethereum couldn't — particularly around transaction costs, enterprise scalability, and user onboarding. Understanding these differences early will save you significant debugging time later.
The Two-Token Model: VET and VTHOUnlike single-token blockchains where gas costs fluctuate with market speculation, VeChainThor separates value transfer from transaction execution.
VET is the native token — used for value transfer, staking, and governance. VTHO (VeThor) is the gas token — consumed when executing transactions and smart contract calls. VTHO is generated by holding VET and, following the Renaissance upgrades, is distributed to node holders who stake via the StarGate platform.
This separation is a deliberate design choice. It decouples application costs from token market volatility, giving developers and enterprises predictable, stable transaction pricing. For builders coming from Ethereum, think of it this way: your users' transaction costs don't spike because of an NFT mint happening elsewhere on the network.
EVM Compatibility: What Works, What DiffersVeChainThor runs a fully compatible EVM, meaning your Solidity contracts deploy and execute as expected. The Galactica upgrade (Phase 1 of the Renaissance roadmap, live on mainnet) brought Shanghai EVM alignment and EIP-1559-inspired dynamic fee mechanics.
Where things diverge is at the interface layer. VeChainThor was originally built around Thor's RESTful APIrather than Ethereum's JSON-RPC standard. This matters when you're choosing how to interact with the chain.
Thor REST API — The native interface. Offers full access to VeChainThor-specific features including multi-clause transactions, fee delegation, and block subscription. Use this when you need the complete feature set.
JSON-RPC via SDK RPC Proxy — A compatibility bridge (@vechain/sdk-rpc-proxy) that translates Ethereum JSON-RPC calls into Thor REST calls. This lets you use familiar tools like Remix, MetaMask, and standard ethers.js providers with VeChainThor. Use this when porting existing Ethereum tooling or when your team is most comfortable with the JSON-RPC interface.
How to choose: If you're building a VeChain-native application and want access to features like multi-clause transactions, start with the Thor REST API via the SDK's ThorClient. If you're migrating an existing Ethereum project or want the fastest path to a working prototype using familiar tooling, use the RPC Proxy. Both are production-ready.
A key nuance to be aware of: eth_getTransactionCount via the RPC Proxy returns a random value rather than the actual transaction count. This is a known divergence from Ethereum behaviour — consult the RPC Methods Detailed Breakdown for the full list of method-level differences.
Multi-Clause Transactions: Do More with LessThis is one of VeChainThor's most powerful features and one that has no direct equivalent on Ethereum. A single transaction can contain multiple clauses — each clause being an independent operation (a token transfer, a contract call, a deployment) bundled into one atomic transaction.
Why this matters in practice:
· Batch operations — transfer tokens to 50 addresses in a single transaction
· Atomic workflows — approve a token and execute a swap in one transaction, with guaranteed atomicity
· Gas efficiency — one base fee covers multiple operations, reducing total cost versus sending individual transactions
The base transaction fee is 5,000 gas, with each additional clause costing 16,000 gas. This is substantially cheaper than submitting each operation as a separate transaction on Ethereum.
VIP-191 Fee Delegation: Remove the Gas BarrierIf there's one feature that makes VeChainThor uniquely suited to consumer-facing applications, it's fee delegation. VIP-191 (the Designated Gas Payer protocol) allows a third party — typically the application developer or a sponsor — to pay the VTHO gas fees on behalf of end users.
This means your users never need to hold cryptocurrency to interact with your application. They don't need to understand gas. They don't need to acquire tokens before they can start using what you've built. The blockchain becomes invisible infrastructure — exactly as it should be for mainstream adoption.
How it works: VIP-191 uses a co-signature model. The user signs the transaction as normal. A designated gas payer then co-signs, agreeing to cover the fees. Both signatures are included in the transaction, and the protocol deducts VTHO from the gas payer's balance instead of the user's.
Practical implementation patterns:
· Backend delegation service — Deploy a web service that receives unsigned transactions, validates them against your business rules, and returns co-signed transactions with gas covered. This is the most common production pattern, specified in VIP-201.
· Event-based sponsorship — Cover gas for specific actions (first 100 transactions for new users, promotional campaigns, onboarding flows)
· Enterprise sponsorship — Businesses sponsor all transaction fees for their application users, making the blockchain layer entirely invisible
The VeChain Docs provide a three-part integration tutorial that walks through the full implementation. The VeChain Kit documentation also covers fee delegation patterns for modern dApp architectures.
3. Tooling & SDKsVeChain's tooling has been consolidated around the official VeChain SDK — a unified development experience that replaces the earlier fragmented ecosystem of standalone packages. Here's what to use and when.
VeChain SDK (@vechain/sdk-*)The VeChain SDK is the primary development toolkit. It's a TypeScript monorepo containing everything you need for end-to-end blockchain development.
Thor REST → JSON-RPC bridge for Ethereum tool compatibility
@vechain/sdk-hardhat-plugin
Hardhat integration for Solidity workflows
The SDK's ThorClient is your primary interface for direct blockchain interaction — querying accounts, reading transactions, simulating contract calls, and estimating gas. Refer to the Thor Client documentation for the full API surface.
Hardhat PluginIf Hardhat is your preferred development environment (and for most Solidity developers, it is), the @vechain/sdk-hardhat-plugin gives you seamless integration. Compile, test, and deploy contracts to VeChainThor using the same workflows you'd use for Ethereum — with access to VeChain-specific features underneath.
The plugin bridges Hardhat's standard Ethereum tooling with VeChainThor's unique capabilities. Configure your hardhat.config.js with VeChain network settings, and your existing Solidity workflow largely stays the same.
Getting started:
bash
npm install @vechain/sdk-hardhat-plugin
The SDK repository includes a complete Hardhat example application under the ./apps directory.
Connex: Browser-Based dApp InterfaceConnex is the standard interface for connecting browser-based dApps with VeChainThor and user wallets. If you're building a front-end that needs to interact with the blockchain through the user's wallet (VeWorld, Sync2), Connex is the bridge.
Connex provides APIs for:
· Reading blockchain state (accounts, blocks, transactions)
· Subscribing to new blocks via connex.thor.ticker
· Interacting with smart contracts through connex.thor.account
· Requesting transaction signatures from the user's wallet
For modern dApp development, the VeChain DApp Kit (vechain-dapp-kit) provides a higher-level TypeScript library that facilitates wallet interaction with VeWorld and Sync2, handling connection management and transaction signing with a cleaner developer experience.
Using ethers.js with VeChainIf your team is deeply invested in the ethers.js ecosystem, you can interact with VeChainThor through the SDK RPC Proxy. Start the proxy pointed at a VeChainThor node, and use standard ethers.js providers against the proxy endpoint. This is particularly useful when migrating existing Ethereum front-ends.
Note that VeChainThor's chain IDs differ from Ethereum: Mainnet is 100009 and Testnet is 100010. Configure your providers accordingly.
4. Networks, Explorer & FaucetNetworksNetwork
Purpose
Node Endpoint
Mainnet
Production deployment
https://mainnet.vechain.org
Testnet
Development and testing
https://testnet.vechain.org
Solo
Local development node
localhost (via Docker)
The testnet mirrors mainnet functionality and is the recommended environment for all development and integration testing. Testnet assets carry no monetary value — experiment freely.
Testnet FaucetNeed testnet VET and VTHO? The VeChain Testnet Faucet provides free tokens for development. If you have testnet VET and need to convert some to VTHO, use the Energy Station.
ExplorerThe VeChain Explorer (available for both mainnet and testnet) lets you verify transactions, inspect contract deployments, view account balances, and trace execution. Use it to validate your deployments and debug transaction failures.
Insight, VeChain's serverless explorer, offers an additional lightweight option for exploring blocks, transactions, and accounts.
5. Ship Without Code: VORJNot every project needs to start with a Solidity compiler. VORJ is VeChain's no-code Web3-as-a-Service platform — a click-configure-deploy interface for creating and managing smart contracts without writing code.
What VORJ offers:· Token creation — Deploy ERC-20 fungible tokens and ERC-721 NFT contracts through a guided interface
· OpenZeppelin foundations — All contracts are built on audited, EVM-compatible OpenZeppelin standards
· Zero transaction fees — VORJ handles gas costs during contract deployment
· Management APIs — Interact with your deployed contracts programmatically via VORJ's API layer
· Additional tooling — Blockchain data APIs, NFT APIs, contract push notifications, and a transaction executor
VORJ is particularly valuable for prototyping, hackathons, and scenarios where a technical PM or business stakeholder needs to validate a concept before committing engineering resources. It's also useful for non-technical teams within enterprises who need to deploy standard token contracts as part of a broader VeChain integration.
Important note: Contracts deployed through VORJ are owned by the VORJ deployment wallet by default. Transfer ownership to your own wallet for production use.
Explore the VORJ documentation and the VeChain Docs VORJ section to get started.
6. Best Practices & Production ConsiderationsBuilding on VeChainThor rewards careful attention to a few areas where the protocol's design differs from what Ethereum developers may expect. Whether you're handling smart contract deployment on VeChainThor for the first time or scaling an existing application, these patterns will keep you out of trouble.
Gas Estimation for Multi-Clause TransactionsStandard Ethereum eth_estimateGas calls will produce inaccurate results for multi-clause transactions — this is a VeChainThor-specific feature with no Ethereum equivalent. Use the SDK's native gas estimation instead:
The gasPadding option adds a safety margin to your estimate. This is particularly important for contract interactions where execution paths may vary. VM gas cannot be calculated offline — simulation against a node is required.
Gas cost breakdown for multi-clause transactions:
· Base transaction fee: 5,000 gas
· Per clause: 16,000 gas
· Per zero byte of data: 4 gas
· Per non-zero byte of data: 68 gas
· Plus VM execution gas per clause (requires simulation)
Error Handling in Multi-Clause TransactionsWhen a multi-clause transaction fails, identify which clause caused the failure. The transaction receipt includes per-clause execution results — inspect these individually rather than treating the transaction as a monolithic operation. A common mistake is assuming that if the transaction was mined, all clauses succeeded. Check each clause's output and revert status.
Fee Delegation Edge CasesWhen implementing VIP-191 fee delegation, ensure your gas payer service validates transactions before co-signing. Without validation, a malicious user could drain your gas payer's VTHO balance by submitting expensive transactions. Common safeguards include:
· Whitelisting contract addresses that the gas payer will sponsor
· Setting per-user transaction rate limits
· Capping the maximum gas per sponsored transaction
· Validating transaction clauses against expected patterns
If the gas payer's VTHO balance is insufficient at execution time, the transaction will fail — not partially execute. Build monitoring around your gas payer's balance.
Preparing for Renaissance: Migration ConsiderationsThe Renaissance roadmap is actively expanding VeChainThor's compatibility surface. As the Interstellarphase (expected 2026) brings full JSON-RPC support and EVM Cancun alignment, developers should be aware of the transition path:
· Galactica (live) introduced Shanghai EVM alignment and dynamic fees via EIP-1559 mechanics. If you're deploying contracts today, you're already building on this foundation.
· Hayabusa (late 2025) brings the Delegated Proof-of-Stake consensus migration and tokenomics changes. Existing contracts are unaffected, but applications that interact with staking or node infrastructure should monitor for API changes.
· Interstellar (2026) will deliver full JSON-RPC compatibility, meaning the RPC Proxy will eventually become a native protocol feature rather than a translation layer. Applications currently using the RPC Proxy will benefit from improved performance and broader method support.
If you're starting a new project today, building against the SDK's ThorClient gives you the most future-proof foundation. If you're using the RPC Proxy for Ethereum compatibility, your integration path only gets smoother from here.
SpecificationsWhat to Do NextThe fastest path from reading to building:
1. Install the Hardhat plugin and VeChain SDK — npm install @vechain/sdk-hardhat-plugin — and configure your hardhat.config.js for the VeChainThor testnet.
2. Grab testnet tokens from the faucet to fund your development wallet.
3. Deploy a test contract — use one of the example projects from the SDK repository as your starting point.
4. Verify on the Explorer — confirm your deployment at explore-testnet.vechain.org.
Once your contract is live on testnet, the next step is adding VIP-191 fee delegation — so your users never see a gas prompt — and wiring it to a front-end via Connex or the VeChain DApp Kit. We'll cover that end-to-end workflow in the follow-up guide.
VeChain has been building for utility since 2015 — proven infrastructure, real applications, and a growing ecosystem of developers shipping products that people actually use. The tools are ready. Start building.
VeChain, Sunny Lu & The $300 Scam That Built a Blockchain
5 min read
Mar 9, 2026
--
--
Press enter or click to view image in full size
How a World of Warcraft fraud put Sunny Lu on the path to VeChain
Most origin stories begin with a vision. A founder staring at a whiteboard, sketching the product that will change everything.
Sunny Lu’s begins with a scam.
In 2012, Sunny is playing World of Warcraft on US servers. He needs in-game gold, fast. A Google search leads him to Bitcoin. A Taobao listing offers 100 Bitcoin for $300.
He sends the money.
The Bitcoin never arrives.
Press enter or click to view image in full size
A $300 Lesson in Trustlessness$300 gone. 100 BTC, never seen. By today’s prices, that is roughly $8 million, vanished in a single transaction with a stranger on the internet.
Most people walk away from crypto at that point and never look back. The lesson stings and the chapter closes.
Press enter or click to view image in full size
The Architecture, Not the PriceSunny opens the Bitcoin whitepaper instead — the whitepaper speaks directly to the engineering part of his brain.
What captivates him is the architecture. “A trustless ledger with no intermediaries and records nobody can change.” For an engineer who has spent years thinking about how enterprise data moves and where it breaks, this is a completely different kind of infrastructure. A data layer, not a financial product.
He asks a different question: what can this let us build?
Press enter or click to view image in full size
The Spark at Louis VuittonBack at work, the revelation doesn’t leave him.
Sunny is building track-and-trace systems at Louis Vuitton China, following products through every stage of manufacture. Raw materials in. Finished goods out. Every step in between, logged and managed across a web of suppliers, factories, and distributors.
Then a thought surfaces.
What if multiple parties could read from the same immutable ledger? What if no single entity controlled the data? What if every participant (supplier, manufacturer, retailer, auditor) could see the same truth, in real time, without any single company owning it?
That question becomes the first seed of VeChain.
Press enter or click to view image in full size
Shanghai, 2015
Bo Shen of Fenbushi Capital introduces Sunny to a young Vitalik Buterin. They spend hours on smart contracts, the EVM, and what blockchain could actually build.
Those conversations crystallise everything.
Get VeChain Official’s stories in your inbox
Join Medium for free to get updates from this writer.
Remember me for faster sign in
What Sunny needed did not exist. Ethereum was built for one set of problems. Bitcoin for another. Forcing enterprise requirements onto chains designed for different purposes would not work. The governance models were wrong. The transaction economics were wrong. The data structures were wrong.
He would build from the ground up.
Press enter or click to view image in full size
Verification ChainAnd with that, “Verification Chain” was born, later shortened to VeChain.
The project launches in 2015 with one founding conviction: blockchain is only valuable if it does something real. Real supply chains. Real data. Real proof of provenance.
While others were writing whitepapers, VeChain was shipping integrations.
The design decisions made in those early years reflect the enterprise focus Sunny carried from day one. A dual-token model to separate gas costs from governance volatility. A semi-public structure that lets enterprises control data access without sacrificing auditability. A platform built for developers who need reliability, not novelty.
The speculation cycle keeps turning. Sunny keeps building.
Press enter or click to view image in full size
The WorkWhat follows is years of unglamorous, essential work.
Walmart China selects VeChain to trace food from farm to shelf, giving Chinese consumers verifiable provenance on the products they buy. BMW builds VerifyCar on VeChain, a digital passport bolted onto every vehicle to protect against odometer fraud. UFC embeds NFC chips into fighter gloves so authenticity can be verified at charity auctions.
These are production deployments, running quietly, processing real transactions.
100% uptime since 2017. 530 million transactions and counting.
That is what conviction looks like at scale.
Press enter or click to view image in full size
What Can We Build for People?A decade in, the enterprise foundation holds. A new question surfaces.
VeBetter launches as VeChain’s consumer-facing ecosystem: 50+ apps rewarding everyday actions with real token value. Recycling. Sustainable eating. Fitness. Coastal cleanups. Behaviour that benefits users and the planet, recognised and recorded on-chain.
5 million users. 48 million verified on-chain actions.
The blockchain stays invisible. The results come through clearly.
Press enter or click to view image in full size
Still Here. Still Building.
It started with a $300 scam on Taobao.
A fraud that could have buried the story, and instead launched it. A supply chain problem at Louis Vuitton. A late night in Shanghai with a young Vitalik Buterin. A founding conviction that utility outlasts narrative, that the chains worth building are the ones doing something real in the world.
Ten years on, VeChain is still here.
Because the things worth building do not need the market’s permission to matter.
TLDR: VeChain (VET) confirms a bullish structure after sweeping downside liquidity and forming higher lows Price targets for VeChain (VET) range from $0.00771 to $0.00895 as upside liquidity comes into focus VeChain announces Phase Three upgrade bringing full EVM compatibility to its VeChainThor network Developers can use standard Ethereum tools on VeChain, simplifying building and integration processes VeChain (VET) has drawn attention after a technical shift on the daily chart and a new development update. Recent market structure changes and ecosystem progress have placed the asset under closer observation from traders and builders.
Bullish Structure Forms as VET Targets Upside Liquidity A recent analysis from Crypto Patel described a bullish shift in VeChain (VET) based on daily chart activity. The outlook focused on liquidity movement, order block reaction, and a developing market structure shift.
$VET Has Officially Turned Bullish On The Daily – Here's Where Price Could Go Next#VET has swept downside liquidity and formed a clear bullish structure after MSS, reacting from a strong order block and positioning for continuation toward upside liquidity.
Technical Structure:… pic.twitter.com/JAMbFv9USk
— Crypto Patel (@CryptoPatel) April 25, 2026
Crypto Patel stated that VeChain (VET) swept downside liquidity and confirmed a market structure shift. The post also noted a strong reaction from a demand zone, followed by higher lows forming on the chart. This setup pointed to early accumulation and a shift toward bullish positioning.
According to the analysis, liquidity remains stacked above the current price. As a result, traders are watching potential targets at $0.00771, $0.00784, $0.00826, and $0.00895. These levels represent areas where sell-side pressure may emerge.
At the same time, the setup includes a clear invalidation level. A daily close below $0.006900 would weaken the bullish outlook. Therefore, traders are waiting for confirmation before entering positions.
The post also suggested scaling into trades within the order block zone. This approach allows for controlled entries while targeting higher liquidity zones. As VeChain (VET) continues forming structure, price behavior remains under close watch.
VeChain Renaissance Phase Three Nears With EVM Compatibility At the same time, VeChain introduced an update regarding its ecosystem development. In a tweet, VeChain announced that Phase Three of its Renaissance roadmap, named “Interstellar,” is approaching.
Phase Three of VeChain Renaissance is now in sight: 'Interstellar'.
Through it, VeChain achieves EVM parity, with common tools like Hardhat, Foundry, MetaMask, Ethers.js etc working seamlessly on VeChainThor.
No more custom adapters, only seamless building on $VET. pic.twitter.com/ZVtY0kroVW
— VeChain (@vechainofficial) April 23, 2026
This phase focuses on achieving Ethereum Virtual Machine compatibility. As a result, developers can use familiar tools like Hardhat, Foundry, MetaMask, and Ethers.js on VeChainThor. This change removes the need for custom integrations.
With this update, VeChain (VET) aims to simplify the development process. Builders can deploy applications using standard Ethereum-based tools without additional adjustments. This creates a more accessible environment for developers.
Moreover, the shift to EVM parity aligns VeChain with widely used blockchain standards. This allows smoother migration of projects and tools into the ecosystem. Consequently, development activity may become more streamlined.
The announcement also signals a broader effort to improve usability within the VeChain network. By reducing technical barriers, the platform supports faster onboarding for developers. At the same time, existing users benefit from improved compatibility.
As VeChain (VET) advances through its roadmap, both technical and development updates remain in focus. Market participants continue tracking price structure alongside ecosystem progress. This keeps VeChain (VET) within ongoing crypto market discussions.
The real-world asset (RWA) tokenization sector has become one of the most closely watched areas in the digital asset industry. Over the past two years, the conversation around blockchain utility has gradually shifted away from speculation and toward practical financial infrastructure.
As a result, cryptocurrencies connected to tokenized assets, institutional settlement systems, and blockchain-based financial rails are attracting increasing attention in 2026.
The idea behind RWA networks is relatively simple. These blockchain networks aim to connect traditional financial assets such as bonds, payments, commodities, invoices, treasury products, and settlement systems to decentralized infrastructure. Instead of focusing solely on crypto-related utility, these projects aim to bridge digital networks and real economic activity.
Why Are Real-World Asset Tokens Gaining Traction in 2026? The RWA tokens are receiving increased attention in 2026 because of the growing adoption of rails that bring traditional finance on-chain. Coins that give exposure to this emerging narrative have benefited from the hype, as market users increasingly seek ways to invest in the tokenization sector in its early stages.
Notably, the RWA sector has continued to expand in 2026. The value of the total tokenized assets distributed on blockchains has exceeded $33.8 billion, as real-world assets appear to have found a new abode.
total rwa value Meanwhile, this traction is largely due to traditional financial institutions becoming more comfortable with blockchain infrastructure. Major asset managers, payment firms, and banking institutions are increasingly experimenting with tokenized financial products, stablecoin settlements, and blockchain-based liquidity systems.
Another major factor is regulation. Several jurisdictions introduced clearer frameworks for tokenized securities and blockchain settlement systems over the past year. One of the most recent breakthroughs is the expected innovation exemption guideline that the US SEC will issue, which will support securities tokenization on blockchains. Such clarity has encouraged more traditional firms to test blockchain infrastructure without the uncertainty that previously slowed adoption.
The increasing attention to the RWA sector is now being reflected in tokens tied to this sector. As the investor interest grows, we have highlighted the top 10 RWA tokens by market cap in today’s market.
Top 10 RWA Crypto Tokens by Market Cap in 2026 Rank Token Current Price Market Cap Main Focus 1 Chainlink (LINK) $9.80 $7.15 billion Oracle infrastructure and tokenized asset connectivity 2 Stellar (XLM) $0.1480 $4.96 billion Cross-border payments and financial settlement 3 Avalanche (AVAX) $9.53 $4.17 billion Institutional blockchain infrastructure 4 Hedera (HBAR) $0.090 $3.9 billion Enterprise-grade distributed ledger systems 5 Ondo (ONDO) $0.409 $1.95 billion Tokenized treasury and financial products 6 Sky (SKY) $0.0707 $1.643 billion Decentralized financial infrastructure 7 Algorand (ALGO) $0.115 $1 billion Tokenization and payment rails 8 Quant (QNT) $73.8 $891 million Blockchain interoperability 9 XDC Network (XDC) $0.0345 $710 million Trade finance and enterprise settlement 10 VeChain (VET) $0.0067 $579 million Supply chain and logistics tracking Chainlink (LINK) Chainlink is the largest RWA-focused crypto project by market capitalization. The network plays a major role in connecting blockchain systems to off-chain financial data, a role that has become increasingly important as tokenized assets expand across multiple chains.
Its Oracle infrastructure is now widely used in tokenized finance applications. Its cross-chain interoperability protocol (CCIP) has also gained massive adoption, with SWIFT, Coinbase, and SBI Digital among major users.
LINK trades at $9.80, with a market cap of $7.15 billion. Although it is down 19% year-to-date, analysts expect it to finish the year stronger. The asset could realistically reach $15 before the end of 2026.
Stellar (XLM) Stellar positions itself as a blockchain focused on payments and low-cost international settlement. Yet its high-speed, institutional-grade security and scalability have led to widespread adoption in the tokenization industry.
Currently, Stellar has over $2.4 billion in distributed and represented RWAs tokenized on its network, up an impressive 11% over the past 30 days. It also has a 30-day transfer volume of $275.5 million, with the US Treasuries being the most tokenized asset class on its platform.
Its native token, XLM, trades at $0.148, down 26% since January 1, and has a market cap of $4.96 billion. Realistically, the coin could reach $0.220 before the end of 2026, an increase of over 50% from the current price.
Avalanche (AVAX) Avalanche has increasingly attracted institutional attention because of its customizable subnet architecture. Financial firms experimenting with tokenized products have shown interest in Avalanche due to its scalability and relatively fast transaction processing.
Data show that over $1.8 billion in RWAs are live on Avalanche, the ninth largest among all networks. $1.2 billion RWAs are distributed on Avalanche, while $678 million is represented.
Price-wise, AVAX trades at $9.53 with a market cap of $4.17 billion. In a conservative scenario, the token could reach $12 this year.
Hedera (HBAR) Hedera has carved out a niche through enterprise partnerships and a corporate governance structure. The network has consistently emphasized business adoption, compliance-friendly infrastructure, and enterprise-grade settlement systems.
In February, Hedera ranked top in RWA blockchain development activity, reflecting its major role in facilitating the integration of physical assets into blockchain infrastructure. Its low-cost, high-speed setup is tailored to institutions to tokenize real-world assets on-chain.
At press time, HBAR trades at $0.09 and has a market cap of $3.9 billion. Should momentum escalate, the token could hit $0.204 before the end of 2026.
Ondo Finance (ONDO) Ondo has become one of the fastest-rising RWA projects due to its focus on tokenized treasury products and blockchain-based financial instruments. The platform has gained visibility as its tokenized yield-bearing products continue attracting institutional attention.
Ondo has issued over $3.85 billion in tokenized assets, the majority of which are US Treasuries. The platform offers US dollar yields and short-term US government bonds, which are two of its biggest products.
ONDO changes hands at $0.409, up 14% YTD. With its strong adoption, the coin could trade at $0.63 by the end of this year on a conservative scenario.
Ondo finance Sky (SKY) Sky has built a decentralized financial infrastructure tied to tokenized systems and digital settlement layers. Its ecosystem ranks among the largest decentralized finance systems that incorporate traditional finance to generate yield for holders.
SKY trades at $0.070, up 22% since the start of the year. Projection places the token near $0.09 in 2026.
Algorand (ALGO) Algorand remains active in tokenization initiatives and blockchain payment infrastructure. The project has maintained a strong reputation for transaction efficiency and low network costs.
Currently, over $99 million in real estate has been tokenized on Algorand, with the total tokenized asset exceeding $400 million. Its Algorand Standard Asset (ASA) framework makes onboarding easy, allowing users to tokenize directly on the network’s layer.
ALGO, its native token, trades at $0.115 with a market cap of $1 billion. Projections suggest a slight increase to $0.12 for the coin before the end of 2026.
Quant (QNT) Quant focuses primarily on interoperability between blockchain systems and traditional financial infrastructure. As institutions increasingly use multiple blockchain networks simultaneously, interoperability solutions have become more important.
The platform uses its Overledger OS to make interoperability easy, securely connecting RWA protocols. Notably, the European Central Bank selected Quant as a pioneer partner last year for its digital Euro project.
QNT trades at $73.8, up 6% this year. If adoption escalates, the coin could reach $115 on a conservative basis.
XDC Network (XDC) The XDC Network targets the trade finance and enterprise settlement markets using its Delegated Proof-of-Stake (XDPoS) consensus. The project has positioned itself around document verification, cross-border business payments, and tokenized financial workflows.
RWAs over $17 million have been distributed on the XDC network, with its stablecoin market cap exceeding $72.7 million.
At press time, XDC trades at $0.0348 with a market cap of $710 million. The coin could reach $0.0735 realistically before the end of 2026.
VeChain (VET) VeChain is a blockchain-as-a-service (BaaS) network, heavily focused on supply chain verification and logistics tracking. While it does not directly tokenize assets, it specializes in tracking and verifying RWAs using the Internet of Things (IoT).
VET trades at $0.0067 with a valuation of $579 million. Projection places the coin at a realistic target of $0.0072 by the end of 2026.
How Do RWA Tokens Work? RWA tokens function by representing real-world financial or economic value on blockchain networks. In some cases, these tokens represent ownership rights tied to physical assets such as real estate, commodities, or invoices. In other situations, they help facilitate payment systems, settlement layers, or financial data infrastructure.
Many RWA networks also act as the technological foundation for tokenized products issued by financial firms. Instead of relying entirely on traditional banking rails, institutions can use blockchain systems to move value more efficiently and transparently.
Some projects also focus on tokenized treasury products, while others specialize in data infrastructure, interoperability, or institutional settlement systems. Despite their differences, most RWA tokens share the broader objective of connecting blockchain technology with traditional financial activity.
Benefits of Investing in RWA Crypto Coins One reason many market participants are paying closer attention to RWA crypto coins is that the sector has practical financial use cases. Several projects are already working with payment companies, asset managers, or enterprise software providers, with prominent market participants projecting that the sector will be worth trillions of dollars in the future.
Another advantage is diversification within the broader crypto sector. While meme coins and highly speculative tokens often depend heavily on social momentum, RWA-focused projects may benefit from institutional adoption trends and expanding tokenization markets.
The sector could also benefit from the broader shift toward digital financial infrastructure. As tokenized assets become more common globally, blockchain networks capable of supporting such systems may continue to gain relevance.
Risks to Consider Before Investing in RWA Tokens Despite the optimism surrounding tokenized assets, the RWA sector still faces important challenges. Regulation remains one of the biggest uncertainties. Although some regions have introduced clearer rules, global regulatory standards remain inconsistent.
Another issue involves scalability and adoption speed. Many tokenization initiatives are still relatively early-stage, and it remains unclear how quickly traditional financial systems will fully integrate blockchain infrastructure.
Competition also remains intense. Multiple blockchain networks are attempting to position themselves as the preferred infrastructure for tokenized finance, payments, and institutional settlement. As such, not every project will succeed in the long term.
Security risks, smart contract vulnerabilities, and broader crypto market volatility also continue affecting the sector. Even fundamentally strong projects can experience significant declines during periods of macroeconomic uncertainty.
How to Buy RWA Crypto Coins Most leading RWA cryptocurrencies are available on major centralized crypto exchanges. Users typically begin by creating an account, completing identity verification, and funding it with fiat currency or stablecoins.
After purchasing tokens, some users choose to store their assets on exchanges, while others transfer them to self-custody wallets for additional security. Hardware wallets remain one of the most common storage solutions for long-term holders.
Before purchasing any RWA crypto asset, it is important to research the project’s utility, institutional partnerships, tokenomics, and long-term roadmap. While the sector is attracting attention in 2026, individual projects can still perform very differently depending on adoption levels and broader market conditions.
For more on Crypto news today and the latest crypto price prediction updates, visit our dedicated coverage hub
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
In brief Google DeepMind and Fenris Creations (formerly CCP Games) are teaming up to study AI behavior in complex, player-driven game environments. The initial research will run on offline, controlled Eve Online builds not connected to Tranquility, the game's live server. DeepMind has taken a minority stake in Fenris after it spun out from Pearl Abyss and became an independent studio once more. Google DeepMind said Wednesday that it is teaming up with CCP Games, acquiring a minority stake in the Icelandic studio behind long-running massively multiplayer space game Eve Online, with plans to study how artificial intelligence behaves inside complex, player-driven virtual environments.
The investment, which DeepMind told Bloomberg is valued in the millions of dollars, comes as CCP announced that it has become an independent studio, spinning out from publisher Pearl Abyss and rebranding to Fenris Creations. According to founder and CEO Hilmar Veigar Pétursson, the new structure and partners enable the company to continuously evolve “a living universe and actively [explore] what it can become, with forever in mind.”
“We’re grateful to Pearl Abyss for their partnership and for the consistent support they’ve shown us over the past seven-and-a-half years,” Pétursson said in a statement. “Eve Online exists today because of pioneering thinking, patience, and trust between developers and players.”
Fenris Creations announced the team-up with Google on Wednesday, adding that the two companies plan to share further details at the annual Eve Fanfest in Reykjavik next week.
“I’ve known Hilmar for many years and long admired his work, and I’m thrilled to partner with him and the fantastic team at Fenris Creations to explore new gaming experiences and advance AI research safely inside a player-driven universe as amazingly complex as Eve Online,” Google DeepMind CEO Demis Hassabis said in a statement.
According to Fenris, the research tests will run on offline, controlled versions of the Eve Online world that are not connected to Tranquility, the live server.
Today is a day of many milestones, 7.5 years ago we joined up with Pearl Abyss as CCP Games and today we part ways as friends and with deep respect, as we become @FenrisCreations.
We’ve learned a great deal from Pearl Abyss, an extraordinary game maker, as amply evidenced by… pic.twitter.com/cxcSHHvp1x
— FC Hellmar (@HilmarVeigar) May 6, 2026
“It is a one-of-a-kind simulation for testing general-purpose artificial intelligence in a safe sandbox environment,” Alexandre Moufarek, director of inception at Google DeepMind, said in a statement. “I'm excited to partner with the team at Fenris Creations to push the frontier of artificial intelligence and explore new player experiences."
Eve Online launched in 2003 and runs a fully emergent player universe that includes markets, political alliances, and large-scale wars generated by player behavior. In 2024, the studio revealed Eve Frontier, a separate on-chain space survival MMO originally running on Redstone, an Ethereum layer-2 network, in 2024.
The game has since migrated to layer-1 network Sui for its mainnet launch. It's unclear whether the DeepMind research will extend to Eve Frontier's on-chain environment or remain focused on AI interactions.
Fenris says it closed 2025 with some of its strongest financial results in the game's history, including a record November and one of its best quarters on record.
“New Eden is alive because you keep making it alive. We were able to make this transition in large part because of you,” the company said. “Because you continue to believe in Eve. Because you continue to support us. Because you continue to challenge us. Because, after all these years, you are still building the most impressive virtual world in gaming right alongside us.”
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Key Takeaways XPeng releases Q1 2026 financial results Thursday prior to the opening bell Wall Street consensus calls for $1.93 billion in revenue, representing an approximately 11.76% decline year-over-year Earnings per share expected to show a loss of $0.11 for the three-month period Twenty-seven analysts maintain Buy ratings on XPEV with an average price target of $24.44 Implied volatility suggests options market anticipates roughly 8.16% price movement following the announcement XPeng is set to release its first-quarter 2026 earnings Thursday before the market opens, and investor attention is squarely focused on one question: can the Chinese electric vehicle manufacturer maintain the momentum from its strongest profitability performance to date?
XPeng Inc., XPEV
Shares of XPEV are changing hands near $16.55, reflecting a year-to-date decline of approximately 22%. The current price sits significantly closer to the 52-week floor of $14.72 than the ceiling of $28.24.
The Street is modeling first-quarter revenue of 13.95 billion yuan (equivalent to $1.93 billion), marking an 11.76% contraction compared to the same period last year. This figure also represents a substantial 37% sequential decline from the fourth quarter’s 22.25 billion yuan.
On the bottom line, the consensus forecast points to a per-share loss of $0.11. Notably, EPS projections have deteriorated by 41% during the last two months, though estimates have stabilized over the most recent week.
Profitability Metrics Take Center Stage The company’s fourth-quarter gross margin of 21.3% marked an all-time high for XPeng. Maintaining profitability anywhere in proximity to that benchmark during the first quarter would provide substantial evidence that operational improvements are sustainable rather than transitory.
Conversely, a material deterioration from that profitability level could trigger concerns that the prior quarter represented an anomaly rather than a fundamental inflection point.
Delivery performance will also command significant attention. Management issued guidance calling for between 61,000 and 66,000 vehicle deliveries in Q1. While April saw the company deliver 31,011 units — representing its strongest single-month performance since the beginning of 2026 — that data point falls outside the reporting period.
China’s electric vehicle sector has experienced a deceleration to levels comparable with 2024. Reduced government incentives, compressed margins, and softer consumer spending have created headwinds across the entire industry, affecting XPeng along with competitors.
Forward Outlook Carries Significant Weight Management’s forward-looking commentary may prove equally important as the actual quarterly results. The investment community is eager to understand how executives view the trajectory for the remainder of 2026 and whether the softer first quarter represents a brief pause or a more sustained challenge.
Product pipeline developments could serve as catalysts in the latter portion of the year. The company has multiple launches scheduled, including the G9L, Mona L05, and Mona L03 SUV models, all slated for introduction during the second half of 2026.
Deutsche Bank projects the G9L could achieve monthly sales volumes approaching 4,000 units following its anticipated third-quarter debut.
In a strategic expansion of its technology capabilities, XPeng recently introduced its inaugural mass-production Robotaxi service in Guangzhou during mid-May, underscoring the company’s commitment to autonomous vehicle technology.
Despite near-term headwinds, analyst sentiment remains predominantly constructive. Twenty-seven analysts maintain Buy recommendations on the shares, with a mean price objective of $24.44 — suggesting potential upside of roughly 48% from present levels.
BNP Paribas Exane stands as the notable exception, having cut its rating to Sell from Hold in late April.
The options market is currently pricing in an approximate 8.16% price movement in either direction following Thursday’s earnings release.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
PANews reported on June 6 that, according to Onchain Lens monitoring, Ethereum co-founder Joseph Lubin has replenished the Maker vault with another 30,000 ETH, worth approximately $47.12 million at current prices, to reduce the risk of liquidation.
Currently, Lubin has pledged a total of 110,000 ETH, worth approximately $171 million, in three different Maker vaults, and has used these ETH as collateral to borrow 259.05 million DAI. His continued replenishment of collateral has attracted market attention as ETH market volatility intensifies.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
PANews reported on June 7th that, according to on-chain analyst Ai Yi, three addresses suspected to belong to Ethereum co-founder Joseph Lubin have collectively staked approximately 412,430 ETH on Maker, worth about $653 million, and borrowed approximately 259 million DAI. The health index of these addresses briefly fell below 1.2 yesterday, but after adding approximately 110,000 ETH as collateral during the ETH price drop, the health index has recovered to above 1.48.
A wallet linked to Ethereum co-founder Joseph Lubin deposited 110,000 ETH, worth roughly $170 million, into Sky vaults on June 6. The funds had been sitting untouched for over three years.
Onchain analysts were quick to flag the transaction, but the consensus is clear: this isn’t a sell signal. It’s defensive collateral management, designed to keep a massive leveraged position from getting anywhere near liquidation territory.
The numbers behind the move The deposited ETH landed across three Sky vaults, the rebranded lending platform formerly known as MakerDAO. Together, those vaults now hold 412,430 WETH as collateral, backing approximately $259.05 million in outstanding DAI debt.
The liquidation thresholds for those three vaults sit at $899, $1,020, and $1,056 per ETH. With ETH trading around $1,560 at the time of the deposits, the nearest liquidation trigger was roughly 33% below the current price.
Advertisement
The transfer didn’t happen all at once, either. Onchain data shows the wallet first moved approximately 80,000 ETH, followed by an additional 30,000 ETH. That staggered approach suggests deliberate, methodical collateral reinforcement rather than a panic move.
Neither Lubin nor Consensys, the blockchain infrastructure company he founded, has commented on the transactions.
Why this matters in the current ETH environment ETH dropped about 1.5% in the 24 hours surrounding the transfer and has fallen nearly 46% year-to-date.
Sky vaults, like their predecessor MakerDAO vaults, work on a straightforward principle. You deposit crypto as collateral, borrow DAI (a stablecoin pegged to the dollar) against it, and maintain a minimum collateral ratio. If the value of your deposited crypto falls below that ratio, the protocol automatically liquidates your position to cover the debt.
What this means for investors Moving ETH into a collateral vault is the opposite of selling. It’s a signal that the holder intends to keep their position open and is willing to commit additional capital to protect it.
That said, the existence of $259 million in DAI debt backed by ETH collateral is itself a data point worth watching. If ETH were to experience another sharp leg down, approaching the $1,056 level where the nearest liquidation threshold sits, the forced selling of 412,430 WETH could create significant downward pressure. That’s roughly $643 million worth of ETH at current prices that would hit the market in a cascading liquidation scenario.
Traders watching onchain flows should keep these Sky vaults on their radar. The liquidation levels at $899, $1,020, and $1,056 now serve as potential flash points.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
PANews reported on June 11 that Binance will launch five bStocks trading pairs from 01:00 to 02:00 Beijing time on June 12, 2026, including Circle (CRCLB), Micron (MUB), NVIDIA (NVDAB), Sandisk (SNDKB), and Tesla (TSLAB), and will simultaneously launch its spot algorithmic trading bot service. Maker (order placement) fees for the aforementioned bStocks trading pairs will be waived until 07:59 Beijing time on September 1, 2026. Meanwhile, users can now tokenize their directly held eligible US stock assets into corresponding bStocks for on-chain trading.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.
Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."
8 minutes ago
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
8 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
8 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
Key Highlights Lucid is eliminating approximately 18% of its U.S.-based workforce, affecting salaried staff, contract workers, and hourly manufacturing employees Annual cost savings from the restructuring are projected at roughly $158 million Chief Operating Officer Marc Winterhoff departed immediately, with the COO position permanently removed from the organizational structure Shares of LCID declined 3.6% following the announcement and have plummeted 50% since the start of 2026 The company has withdrawn its 2026 production forecast and is shutting down the second shift at its Arizona manufacturing plant Lucid Group revealed on Monday that it will eliminate approximately 18% of its United States workforce in what marks the company’s second major headcount reduction of 2026, as the electric vehicle manufacturer intensifies efforts to slash expenses and match production capacity with market demand.
Lucid Group, Inc., LCID
Shares of LCID fell 3.6% in response to the announcement. The stock has now lost half its value in 2026.
The workforce reduction affects multiple categories of workers including permanent employees, independent contractors, and hourly manufacturing personnel. As of the final day of 2025, Lucid employed roughly 9,000 people worldwide.
The restructuring is anticipated to generate annual savings of approximately $158 million. However, the company will absorb about $32 million in one-time cash expenses related to severance packages and employee benefit obligations.
This latest downsizing comes on the heels of a February workforce reduction that eliminated 12% of U.S. positions, a move designed to generate $500 million in savings across a three-year period.
“These are difficult decisions taken to align production with demand, reduce inventory, and adapt to declining market conditions,” a company spokesperson said.
Executive Departure and Manufacturing Shift Elimination Marc Winterhoff, who held the Chief Operating Officer position, left the organization with immediate effect on Monday. Prior to Silvio Napoli assuming the CEO role on June 1, Winterhoff had functioned as interim chief executive. Lucid confirmed the COO role has been eliminated entirely from its leadership structure.
Additionally, the company is terminating the second production shift at its AMP-1 manufacturing complex located in Casa Grande, Arizona.
Production Forecast Withdrawn The electric vehicle manufacturer had initially projected output of 25,000 to 27,000 vehicles for 2026, but retracted this guidance earlier in the year. Newly appointed CEO Napoli is presently conducting a comprehensive assessment of the company’s operational strategy.
According to the company, reducing excessive vehicle inventory is necessary, a strategic decision that typically indicates production slowdowns or temporary halts.
During the first quarter of 2025, vehicle deliveries remained unchanged compared to the previous year, while revenue climbed 20% during the identical timeframe.
Lucid reported a $2.7 billion deficit against $1.35 billion in revenue for the complete 2025 fiscal year. The company burned through $3.8 billion in negative free cash flow, representing an increase of approximately 31% year-over-year.
At its inaugural investor presentation in nearly half a decade held this past March, the company projected achieving positive cash flow by 2030.
The elimination of the $7,500 federal electric vehicle tax incentive under the Trump administration has created additional headwinds for EV demand throughout the sector.
