Yield farming platform lost its mojo.Alpaca was a popular DeFi project.If DeFi is a Darwinian race with no finish line, then this week, another runner just dropped out.
On Monday, Alpaca Finance, once a major DeFi yield farm, announced that it was shutting down in a post on Medium.
The four-year-old protocol, which has suffered a 94% plunge in investor funds, to $55 million, in the last four years, isn’t making its exit because of a hack or malicious exploit.
Rather, it was something simpler, slower, and far more lethal that spelled its end: the cold arithmetic of obsolescence.
Revenue problemsAlpaca’s team said declining revenues and waning user interest, coupled with mounting operational costs, were insurmountable.
Despite making cost-cutting measures and introducing new product ideas, revenue stayed moribund, and the team said it had been operating at a loss for over two years.
“There’s no more business,” said an Alpaca admin who goes by Bibendus on the project’s Discord server.
Alpaca’s demise is not without a sense of irony. Most DeFi experiments fail because they are unable to find product-market fit.
But not Alpaca.
It found its audience early and amassed investor funds. Alpaca’s popularity in 2021 coincided with the degen craving for yield amplification through borrowing and farming.
It was simple and effective in a risk-averse market hungry for outsized returns.
But DeFi isn’t static. The rules change.
Concentrated liquidityIn Alpaca’s case, the change came in the form of concentrated liquidity automated market makers, or AMMs. Think Uniswap’s third iteration, called v3, and its many copycats.
These new, buzzier protocols rewarded users for precision liquidity provision, supplying capital at tight price bands, thereby reducing risk exposure.
They also delivered built-in leverage in their design, which made Alpaca’s external leverage model redundant.
As part of the shutdown process, Alpaca will disable the option to create new positions in June. The team also asked users to exit their active positions or be automatically closed by the end of next month
Users will still be able to withdraw their funds until the end of the year, after which the front-end website will go offline.
Crypto market moversBitcoin has traded flat over the past 24 hours and is at $109,697.Ethereum is 2.9% over the same period and is at $2,638.What we’re readingHow Trump’s memecoin dinner just reshaped Satoshi Nakamoto’s breakthrough ― DL NewsSolana is the app revenue king — Milk RoadJudge Overturns Fraud Convictions of Mango Markets Exploiter ― UnchainedIs Solana DeFi undervalued? — Milk RoadMost XRP investors bought the top. Here’s how long they’ll need to wait until the next surge ― DL NewsOsato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at [email protected].
Coin PricesCrypto rally stalls, BTC Vegas today, Circle files for IPO
Crypto rally stalls, BTC Vegas today, CIRCLE files for IPO FOMO HOUR EP365 BTC rally stalls under $110k on profit taking. BTC options OI hits new record. Hyperliquid whale loses $67m in 5 days. SOL co-founder sees KYC details doxxed. Trump Media denies plan to buy $3bn of crypto. Bitcoin Vegas begins today. Strategy acquires $427m BTC. Blockchain Group issues EUR63m bond to buy BTC. Onchain proof-of-reserves a bad idea: Saylor. Florida could end cap gains tax on crypto, stocks. SUI to allocate $10m for security. Circle files for IPO, denies sale talks. SBF’s sentence to be reduced by 4+ years. Tom Brady invests in Catena Labs. Alpaca Finance to wind down. Meteora now top fee-generating dApp on SOL. Bitlayer collabs with major mining pools on BitVM. Thailand to integrate crypto payments for services. FOMO HOUR brings you the biggest daily news, updates and events from inside and outside of the crypto and macro spheres! Join hosts Farokh, Mando and Tyler as they cover some of the biggest topics at present with some of the biggest names in the ecosystem. Streaming live 5 days per week, Monday to Friday 10:00 AM EST to 11:00 AM EST on YouTube and X. JOIN YEET = https://yeet.com/register?aff=fomohour PLAYLIST = https://www.youtube.com/playlist?list=PLGSgoImPFTiVpkHhLXF78cE_Z3uG7VNGL PODCAST = https://x.com/i/spaces/1kvKpydgqMQGE LIVE SPACE = https://x.com/i/spaces/1yoKMoMzdznJQ Links: https://linktr.ee/fomohour https://twitter.com/fomohour https://www.rug.fm/ https://x.com/rugradio Hosts: https://twitter.com/farokh https://twitter.com/rektmando https://twitter.com/tyler_did_it Myriad: https://myriad.markets https://x.com/MyriadMarkets #bitcoin #crypto #podcast
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May 27, 2025
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Kyber and Alpaca lead crypto gains with weekly surges of 139.2% and 194.4%, respectively. XRP hits $2.77 with $16.3B volume, maintaining strong market cap and trading activity. BAKE posts the only loss this week, falling 3.9% amid broad altcoin uptrend. Kyber Network (KNC) and Alpaca Finance (ALPACA) led the weekly gainers list as of July 12, 2025, according to updated data tracked by Phoenix Group via CoinMarketCap. Both assets saw large percentage increases over the past seven days, outpacing other trending cryptocurrencies by a wide margin. XRP also held its place among top-trending tokens, maintaining high market activity and capitalization levels as the broader crypto market continued to register concentrated movements in selected altcoins.
Kyber Network recorded a 139.2% gain this week, closing at a price of $0.67. The token posted a trading volume of $974.6 million over the seven days, placing it among the most actively traded altcoins currently trending on CoinMarketCap. Alpaca Finance, which saw the largest percentage gain on the list, rose 194.4% to trade at $0.036. Its 24-hour trading volume reached $18.3 million, signaling a notable uptick in short-term market interest.
Other gainers included Ark (ARK), which gained 31.7% over the week to reach a trading price of $0.75. Measurable Data Token (MDT) also showed a strong performance, rising 33.1%. IDEX posted a 22.5% increase, with $497 million in weekly trading volume, despite having a relatively minor market capitalization of $21.5 million.
XRP Maintains Uptrend with High Market Participation XRP has further attracted the attention of the institutions and retail markets, which further increased by 37.6% this week to trade at $2.77. It remained one of the valuable digital assets on the list, with a cumulative market cap of $163.6 billion. One of the greatest trade volumes of the day was exposed by XRP, standing at $16.3 billion, which guaranteed continued demand and high liquidity in the latest trades.
Meanwhile, lower-cap tokens such as Proton (XPR) followed suit and recorded a corresponding percentage rise of 37.6% over the same period, indicating replicating investor activity. Fusionist (ACE) increased by 15.5% to $0.35, and WEMIX went up by 25.2% to $0.51, with an equivalent trading volume of 15.5 million and a market capitalization of 233.7 million.
BakerySwap (BAKE) was the sole asset on the list to close the week in the red. It dropped 3.9% across the same period, differing from the broader upward trend among other trending cryptocurrencies. Most of the tokens listed were traded predominantly on Binance, followed by other major platforms, including Coinbase and KuCoin.
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Chia Network (XCH), which uses a novel consensus mechanism for running its blockchain, has made progress toward getting its stock trading through an initial public offering, its CEO said Thursday.
The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, there is still no firm timeline for the IPO since the company wants to wait for the right market conditions, he later told CoinDesk.
Chia revealed in April 2023 that it wanted to go public, though its IPO plans took a detour because of financial distress at Credit Suisse, its underwriter. That led to Chia laying off a third of its staff in October.
Chia was founded by Bram Cohen, who invented the BitTorrent peer-to-peer filesharing technology. Unlike Bitcoin, which uses proof-of-work to run its blockchain, and Ethereum, which uses proof-of-stake, Chia uses proof-of-space and proof-of-time, which, in short, involves the allocation of computer storage on machines around the world.
Hoffman said Chia is planning to roll out a bridge for Circle's USDC stablecoin in the coming months, as well as additional infrastructure projects.
Chia (XCH) network, a layer one (L1) blockchain that differentiates itself from the park through its Proof-of-space-and-time (PoST) consensus mechanism, is still aspiring to be listed on major stock exchanges through an Initial Public Offering (IPO). According to Chia Network’s CEO Gene Hoffman, during a conference hosted by law firm Brown Rudnick in Manhattan, the company confidentially filed an amended S-1 form with the United States Securities and Exchange Commission (SEC) at the end of March 2024.
Notably, Chia Network initially filed for an IPO with the US SEC during the first quarter of 2023. However, the company ended up delaying the IPO bid following the financial headwinds caused by the collapse of Credit Suisse, which was the main underwriter. Furthermore, Chia network was forced to lay off 26 of its staff members out of 70 at the height of the crypto bear market despite backing from major web3 investors.
Meanwhile, Chia’s Hoffman has indicated that the company will continue to monitor the market conditions to ensure the right timing. The company could be facing regulatory challenges ahead as the US SEC intends to classify most of the altcoins under securities laws.
Chia Project and Market Outlook The team at the Chia project has repeatedly reiterated that it has never sold a single XCH token to fund its projects. The company is backed by legendary web3 investors such as Andreessen Horowitz, Richmond Global Ventures, Naval Ravikant, Slow Ventures, and Galaxy Digital, among others.
In May 2021, Chia Network raised a total of $61 million from the above-mentioned venture capitalists in its Series D funding round. Previously, the Chia project conducted its seed funding round and venture round in 2018 and 2020 respectively.
According to the latest market data, XCH price has dropped around 20 percent in the past week to trade at about $30.36. The small-cap altcoin has a fully diluted valuation (FDV) of about $948 million and a daily trading volume of around $23.4 million as of Friday.
The Chia project is highly diversified into emerging markets such as the Decentralized Physical Infrastructure Network (DePIN). Furthermore, more institutional investors are interested in the tokenization of real-world assets.
Already, Hoffman said that the Chia network is working on rolling out a bridge to onboard USDC, a stablecoin backed by the US dollar and issued by Circle Internet Financial.
Bigger Picture The cryptocurrency market in the United States has undergone significant growth with the recent approval of spot Bitcoin ETFs. Already, the US SEC is under pressure to approve trading of spot Ethereum ETFs by next month.
However, the agency has continued to argue that Ethereum and most of the altcoins constitute investment contracts under the Howey test and, thus fall under the securities law. Meanwhile, the US Congress is working to enact clear crypto regulations before the upcoming general elections.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
At a fireside chat on day 2 of the Singapore Fintech Festival on Thursday, Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), articulated MAS' comprehensive vision for the fintech sector, which aims to establish Singapore as a leading global hub for financial technology. Its vision encompasses the creation of foundational building blocks to facilitate industry growth, such as interoperable payment systems and enhanced cross-border transaction frameworks through initiatives like Project Nexus, Chia said.
The managing director, who replaced Ravi Menon at the start of the year, said MAS is committed to fostering collaboration with industry players to navigate emerging technologies, including Generative AI, while ensuring that regulatory measures keep pace with innovation.
Additionally, the regulator is focused on unlocking the potential of asset tokenization, working closely with global financial institutions to address industry challenges and scale solutions to commercial viability.
MAS to Drive Commercialisation of Asset Tokenisation with Expanded Initiatives
MAS’ new measures reflect its commitment to establishing Singapore as a global hub for digital asset innovation and positioning tokenisation as a key element of the future financial landscape.
BlockheadBlockhead
Chia emphasized asset tokenization's economic benefits such as reduced duplication, cost savings, increased speed, and enhanced efficiency in various financial operations: "It's going to cut duplication, cut cost, increase speed, but cut time, The use cases are also very clear across multi currencies, payment settlement, treasury management, collateral management, and, of course, security settlement."
He elaborated on MAS' vision for tokenisation, underscoring the need for a collaborative approach to scale these innovations to commercial levels. MAS is actively working with industry participants through initiatives like Project Guardian and Global Layer One (GL1). These projects aim to address challenges and ensure that the benefits of tokenisation are realized at a broader scale, he said.
To implement tokenisation effectively, MAS has proposed a framework comprising token, settlement, and infrastructure layers. The first involves representing various assets—such as fixed income, foreign exchange (FX), funds, and securities—as tokens with agreed attributes. The next layer, settlement, aims to ensure high-quality settlement assets like central bank digital currency (CBDC), tokenised bank deposits, and stablecoins are integrated into the ecosystem. Finally, the infrastructure layer aims to develop interoperable and compliant infrastructure to support tokenisation – an area that the GL1 initiative aims to address, Chia explained.
The conversation also touched upon the emerging field of quantum computing and its implications for security. Chia mentioned that while quantum computers are still in the lab and not yet at commercial scale, it is not too early to consider their impact. He emphasized the importance of looking into security measures such as post-quantum encryption and quantum key distribution.
"Quantum is going to give you that compute power that is just exponentially greater than classical computers," he noted, highlighting the need to start preparing for these advancements now.
The Monetary Authority of Singapore (MAS) says that stablecoins have the potential to become a widely adopted means of payment.
In an interview with The Business Times, MAS managing director Chia Der Jiun says stablecoins have immense potential provided that regulations are in place to keep the crypto assets from straying from their linked value.
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“Stablecoins have features that provide more value stability, with the potential to become a widely used payment instrument. MAS sees good potential in stablecoins provided they are well-regulated to have a high degree of value stability.
To this end, MAS finalized a regulatory approach for stablecoins, focusing on regulating the value stability risk of single-currency stablecoins.”
The MAS says it’s looking to establish a regulatory framework for stablecoins in an effort to protect users and consumers.
“We are working on the necessary legislative amendments to the PS (Payment Services) Act to implement the stablecoins framework. Only stablecoin issuers that fulfill all requirements under the framework can apply for their stablecoins to be regulated by MAS as ‘MAS-regulated stablecoins.’ This will allow the market to differentiate these stablecoins from other types that are not regulated for their value stability.”
The MAS also says that issuing a central bank digital currency (CBDC) – a stablecoin pegged to a nation’s currency issued by its reserve bank – is currently not needed at this time as cashless payments in the country are already efficient.
“MAS has assessed that the case for issuing a retail Singapore dollar CBDC in Singapore is not compelling at this juncture, as electronic payments in Singapore are quite pervasive, seamless and efficient.”
In a move that could revolutionize the world of investing, Permuto Capital is inching closer to launching a new class of equity securities that promise to unbundle the dividend from the remaining equity value of common stocks. The pioneering products, built upon an optional blockchain solution using the Chia blockchain, are poised to attract a wide range of investors seeking innovative ways to construct their investment portfolios. The concept was first introduced in Dividend Alchemy: Unbundling Microsoft’s Equity With Blockchain.
Product SummaryOn February 28, 2025, Permuto Capital took a significant step forward by filing two new registration statements for products based on Apple (AAPL) and Broadcom (AVGO) common equity, adding to their previous filing for Microsoft (MSFT). This financial innovation separates a common share into two distinct, tradable parts: a "Dividend Certificate" entitling the owner to dividend payments, and an "Asset Certificate" representing everything else.
The Dividend Certificates offer a capital-efficient way to generate income with favorable dividend tax treatment, making them attractive to retirees, pension funds, insurance companies, and other cash flow-focused investors. Meanwhile, the Asset Certificates are expected to trade with "natural leverage," assuming the dividend component maintains a relatively steady price based on the present value of future cash flows.
Financial InnovationWhile the concept of separating dividends from other economic elements of a common share is not new to Wall Street, the Permuto Capital approach stands out. By designing an affordable structure accessible to investors of all levels, they are democratizing a strategy once reserved for large institutional investors executing bespoke trades.
The simplicity of the Permuto solution is reassuring: all certificates are backed 1:1 by shares of the underlying company held in a trust, without complex financial engineering or synthetic elements. One advantage of the use of trust is that the certificates are not time-based like synthetic structures, and therefore investors may enjoy ongoing access to the certificates. Investors can transact in either or both certificates, deposit common shares with a custodian to receive the two certificates, or return both certificates to the trust to reclaim a common share.
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Blockchain technology for cost reduction
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Permuto Capital aims to list both certificate types on a national stock exchange, with the Depository Trust Company (DTC) holding them for investors using traditional platforms. However, those seeking to maximize returns can opt to hold their certificates as Chia Asset Tokens (CATs) on the Chia blockchain, which offers cost-efficient dividend distribution. CAT holders will receive a great share of dividend payments compared DTC-held certificates with Permuto passing on the cost savings from using the blockchain.
The Chia blockchain also enables 24/7 trading on decentralized marketplaces, free from exchange halts and potentially more cost-effective than traditional exchanges.
Looking ForwardAs regulatory approval progresses for products tied to Microsoft, Apple, and Broadcom, Permuto Capital Co-CEO Trent Martensen affirmed their commitment, stating, “We have no intention of slowing down and expect to be filing additional registration statements for more trusts in the coming weeks.”
The Permuto Dividend and Asset Certificates could represent the first new investible asset class available to the public since the creation of Bitcoin. By elegantly separating two components of a publicly traded stock, this simple idea unlocks additional investor demand, as the individual components cater to specific needs and enable more precise portfolio construction. As Permuto Capital continues to push the boundaries of financial innovation, the investment landscape may never be the same.
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
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UBS and TD Cowen sharply raise Arm’s target price, betting on a revaluation of Arm’s AI data center CPU value.
Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.
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Crypto whale who profited over $23.77 million from BAT ICO liquidates 27,586 ETH
According to monitoring by Yu Jing, a whale that earned $23.77 million from participating in the BAT ICO sold 15,000 ETH (valued at roughly $24.29 million) two hours ago. The whale has now fully liquidated all 27,586 ETH it received from selling 35 million BAT on-chain over the past day and a half, converting the proceeds into 44.836 million USDS at an average selling price of $1,625.
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Sources: Iraqi officials once considered withdrawing from OPEC, but current plans are to remain a member and pursue a higher quota.
A senior Iraqi oil ministry official said that if OPEC quotas are not significantly increased, Iraq will be forced to consider all available options. Sources said Iraqi officials had considered withdrawing from OPEC, but the current plan is to remain a member and push for higher quotas. (Jinshi)
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Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
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Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
TLDR Singapore to trial tokenized bills settled with CBDC, testing tokenization in real-world finance. Chia Der Jiun confirms asset-backed tokens have moved beyond experimentation but need adoption. DBS, OCBC, and UOB conducted trials using Singapore dollar CBDC for interbank lending. Singapore introduces stablecoin regulations focusing on reserve backing and reliable redemption. MAS’s BLOOM initiative supports tokenized assets and stablecoins for settlement in digital finance. The Monetary Authority of Singapore (MAS) is taking steps towards digital finance by launching a trial to issue tokenized MAS bills. These bills will be settled using central bank digital currency (CBDC) and aim to test the viability of tokenization in real-world applications. The trial will involve primary dealers, with more details set to be released in 2026.
Tokenization Moving Beyond Experimentation MAS Managing Director Chia Der Jiun discussed the progress of tokenization at the Singapore FinTech Festival. Chia confirmed that asset-backed tokens have moved past the experimental phase. He stated, “Are asset-backed tokens clearly out of the lab? Without a doubt.” However, he also noted that the technology has not yet reached full-scale adoption.
Despite its potential, tokenization still faces significant structural barriers that must be addressed for broader use. In a related move, Chia revealed that three major banks, DBS, OCBC, and UOB have already conducted successful trials using the Singapore dollar wholesale CBDC for interbank overnight lending. These trials support Singapore’s goal to expand tokenized finance with secure settlement assets, aligning with the broader ambition to integrate CBDCs into commercial financial systems.
Regulation of Stablecoins and Digital Payment Tokens The MAS also addressed its regulatory framework for stablecoins. In August 2023, Singapore introduced regulations for single-currency stablecoins pegged to the Singapore dollar, the U.S. dollar, and the euro. Chia stressed that stablecoins must have sound reserve backing and reliable redemption processes.
He cautioned that unregulated stablecoins could risk systemic instability, pointing to the 2008 financial crisis as a potential parallel. The MAS has launched the BLOOM initiative to further encourage experimentation with tokenized assets. The program aims to test the use of tokenized bank liabilities and regulated stablecoins for settlement, reinforcing Singapore’s commitment to digital finance.
In brief MAS is finalising stablecoin legislation with emphasis on reserve backing and redemption reliability. It will also expand its central bank digital currency trials. A new guide on tokenised capital markets products is also set to be published. Singapore’s financial regulator is preparing to introduce new rules for stablecoins and expand central bank digital currency (CBDC) trials as part of a broader effort to build out its framework for digital assets.
The Monetary Authority of Singapore’s (MAS) managing director, Chia Der Jiun, said Thursday that stablecoins could play a key role in future financial networks if they are properly supervised.
“Unregulated stablecoins have a patchy record of keeping their peg,” Chia told the Singapore FinTech Festival 2025. “Recurrent de-pegging can erode confidence, and trigger runs on other stablecoins.”
“Regulated stablecoins, while nascent, offer the prospect of value stability. Sound and robust regulation of stablecoins will be critical to underpin their stability,” he added. “We have seen national regulations taking shape rapidly. This is an important start. But things can take a wrong turn if there is a proliferation of poorly regulated stablecoins, undermining confidence in others.”
Chia said MAS had finalized the features of its stablecoin regulatory regime and would soon prepare draft legislation. “Under our regime, we have given importance to sound reserve backing and redemption reliability,” he said.
Singapore’s approach to regulating digital finance has balanced between tight standards with industry-led pilots. The new stablecoin rules build on years of sandbox experimentation and projects like Project Guardian, which has tested tokenised foreign exchange, fixed income, and fund transactions since 2022.
Singapore started looking at asset-backed tokens with the launch of Project Guardian in 2022. It collaborated with industry partners to test use cases in FX, funds, fixed income, and showed that tokenization worked and delivered benefits. 24/7 near instant settlement; programmability enabling PvP and DvP; no settlement lags, fewer intermediaries, less pre-funding.
That work has already delivered tangible results. Tokenised bonds and money market funds are being traded on-chain, and banks are offering tokenised cash management services. But, Chia noted, asset-backed tokens have yet to achieve “escape velocity.” To reach that point, he said, there needs to be standardised token formats, interoperable networks and a deep pool of safe settlement assets.
MAS will also publish a guide on the tokenization of capital markets products, offering case studies and disclosure guidance to clarify how tokenised securities fit under existing rules. It is working with international partners, including UK regulators, to harmonise standards for asset-backed tokens.
Chia cautioned that progress will depend on use cases that demonstrate value and stability for clients. “Market participants must bring use cases that demonstrate value and stability,” he said. “They have to build participation and liquidity.”
A "balanced middle" approachAdrian Wall, CEO of the Digital Sovereignty Alliance, described Singapore's approach to regulation as sitting in a “balanced middle.”
“MAS combines strict consumer protection with one of the most advanced tokenization programs in the world. Its stablecoin framework is narrower in scope than MiCA but deeper on safety and redemption, positioning MAS-regulated stablecoins as a reliable bridge between fiat and digital assets,” he told Decrypt.
“Singapore is closest to the equilibrium we’d like to see globally: clear standards, shared infrastructure, and controlled experimentation. The opportunity now is to ensure these frameworks are accessible not only to global banks but also to builders and communities who can turn them into everyday value.”
For stablecoin firms in the city, he said MAS had “put stablecoins on a bank-grade footing without killing innovation.”
He added if he could nudge MAS on anything, it would be on access and on-ramps. “The rules are clear, but smaller innovators still struggle to enter pilots or get banking connectivity. I would like to see more graduated pathways into the regime for early-stage firms that meet the spirit of the framework, and clearer guidance on how foreign fiat-backed stablecoins that already meet high standards elsewhere can interoperate with the Singapore ecosystem without creating regulatory gaps,” he said.
Louise Ivan Valencia Payawal, co-founder and CEO of Ryder.id, added that the industry will benefit from MAS pushing even further. “The speech laid out what needs to happen for asset-backed tokens to reach “escape velocity,” but the current pace of implementation and licensing can still slow down innovators who are ready to build today. Faster approvals, clearer timelines, and more detailed guidance on areas like decentralised finance and self-custody would help ensure Singapore does not fall behind markets that are moving aggressively while still maintaining safeguards,” he said.
He added that across jurisdictions, the trade-offs are becoming clearer. “The United States has scale but uncertainty. Europe has harmonisation, but a slower evolution. Hong Kong supports retail participation. Dubai offers permissiveness. Singapore focuses on trust, interoperability, and institutional-grade networks,” he said.
However, Payawal noted, while MAS wants to avoid walled gardens and prevent a fragmented global landscape, "achieving this requires stronger coordination across international regulators and faster adoption of global standards." He argued that Singapore risks becoming "an advanced testbed without equivalent commercial scale" if other jurisdictions steal a march on it, adding that, "A stronger push to turn pilots into live, industry-wide implementations will be critical if Singapore wants to lead not only in experimentation but in global influence."
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Arizona lawmakers are weighing a bill that would let the state keep digital assets in a reserve instead of selling them off, and XRP is one of the names on the list.
The proposal would place those assets under the state treasurer’s control, and it could also let the state earn extra returns through staking, airdrops, or limited lending if the move does not raise financial risk.
What The Fund Would Hold SB1649 creates a Digital Assets Strategic Reserve Fund made up of digital assets that are held by, confiscated by, or surrendered to Arizona.
The bill text also says the treasurer could deposit state-held digital assets through a secure custody solution or an approved exchange-traded product, then administer the fund directly.
Source: LegiScan It defines “digital asset” broadly enough to include Bitcoin, XRP, stablecoins, nonfungible tokens, Dash, Internet Computer, Ravencoin, Chia, eCash, Monero, and other digital-only assets that meet the bill’s fair-value test.
That fair-value test is built around adoption, annual transactions, annual transaction value, and development activity. In plain terms, the bill tries to sort assets by market use and technical strength before they can be treated as reserve holdings.
The wording is broad, but it is not an open-ended invitation to buy anything. It sets a screening standard first.
BTCUSD trading at $1.31 on the 24-hour chart: TradingView A Bill That Keeps Moving The measure has already cleared the House Rules Committee and is headed to a full House vote. Arizona legislative tracking shows the committee approved it 8-0 on March 30, after earlier Senate action sent it across the chamber. That means the bill is still alive, but it is not law yet.
The House step matters because it moves the proposal closer to the finish line. The bill would give the treasurer authority to manage the fund, and it would also allow digital assets reported as abandoned property to be delivered in native form to the state or its custodian.
If those assets sit unclaimed long enough, staking rewards and airdrops could be shifted into the reserve fund.
Why XRP Is In The Mix XRP has drawn extra attention because it is named directly in the bill, not implied through a broad crypto category. The same section that lists Bitcoin also lists XRP alongside several other assets that could qualify under the reserve framework.
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
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UBS and TD Cowen sharply raise Arm’s target price, betting on a revaluation of Arm’s AI data center CPU value.
Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.
13 minutes ago
Crypto whale who profited over $23.77 million from BAT ICO liquidates 27,586 ETH
According to monitoring by Yu Jing, a whale that earned $23.77 million from participating in the BAT ICO sold 15,000 ETH (valued at roughly $24.29 million) two hours ago. The whale has now fully liquidated all 27,586 ETH it received from selling 35 million BAT on-chain over the past day and a half, converting the proceeds into 44.836 million USDS at an average selling price of $1,625.
13 minutes ago
Sources: Iraqi officials once considered withdrawing from OPEC, but current plans are to remain a member and pursue a higher quota.
A senior Iraqi oil ministry official said that if OPEC quotas are not significantly increased, Iraq will be forced to consider all available options. Sources said Iraqi officials had considered withdrawing from OPEC, but the current plan is to remain a member and push for higher quotas. (Jinshi)
13 minutes ago
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
13 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
TLDR TRON DAO has partnered with Chainlink, making Chainlink Data Feeds its official oracle provider WINkLink will no longer be supported as TRON’s oracle solution The partnership will secure over $6.5 billion in TVL within TRON’s DeFi ecosystem TRON joins Chainlink SCALE program, where TRON will initially cover partial oracle service costs Chainlink has processed over $16 trillion in transaction value and 15 billion verified messages across various blockchains TRON DAO has announced a major shift in its blockchain infrastructure by partnering with Chainlink and adopting its Data Feeds as the official oracle service provider. The move marks the end of WINkLink’s role as TRON’s oracle solution provider.
The partnership, revealed by TRON founder Justin Sun, comes as part of TRON’s participation in the Chainlink SCALE program.
This collaboration will directly impact TRON’s DeFi ecosystem, which currently manages over $6.5 billion in total value locked (TVL) through applications like JustLend and JustStable.
Under the new arrangement, TRON will initially cover partial costs associated with using the Chainlink network, including gas fees for oracle services. This cost structure will eventually transition to a user-fee model where dApps will bear these expenses.
The integration aims to enhance security and reliability for TRON’s growing DeFi landscape. Chainlink’s proven track record includes securing more than $16 trillion in transaction value and delivering over 15 billion verified messages across multiple blockchain networks, including Ethereum, Solana, BNB Smart Chain, and Avalanche.
Thodoris Karakostas, head of blockchain partnerships at Chainlink Labs, emphasized how the partnership will strengthen TRON’s DeFi economy.
TRON Price on CoinGecko The integration provides developers with reliable, decentralized on-chain market data, enabling them to build more robust DeFi applications.
TRON’s extensive ecosystem, which includes $60 billion in stablecoins and real-world assets, stands to benefit from Chainlink’s infrastructure. The move represents a strategic upgrade to enhance security and create new opportunities within the network.
Sam Elfarra, Community Spokesperson for TRON DAO, highlighted Chainlink’s unmatched security and reliability as key factors in selecting it as their official oracle provider. This decision allows TRON to focus more resources on fostering growth within their ecosystem.
The price of TRX, TRON’s native token, responded positively to the announcement with a 1.05% increase. This movement suggests market approval of the strategic partnership.
Today’s announcement: @trondao has joined Chainlink Scale, adopting Chainlink Data Feeds as TRON’s official oracle. Once upgraded, $6.5B+ in DeFi TVL will be secured by @chainlink , creating opportunities for Chainlink and TRON’s $60B+ in stablecoins and RWA! pic.twitter.com/ArDkMysuMq
— H.E. Justin Sun🌞(hiring) (@justinsuntron) October 31, 2024
Justin Sun has also expressed optimism about TRON’s memecoin sector, suggesting it’s ready for a new growth cycle. He indicated that if TRX breaks its previous peak, it could generate increased attention and investment in TRON-based meme coins.
The transition away from WINkLink represents a complete overhaul of TRON’s oracle infrastructure. DeFi applications on the network will now need to adapt to Chainlink’s Data Feeds for their price data requirements.
Chainlink’s Data Feeds have demonstrated resilience during extreme market conditions and blockchain network congestion. This stability will be crucial for TRON’s DeFi ecosystem as it continues to expand.
The partnership arrives at a time when reliable oracle services are increasingly important in the DeFi space. Accurate price feeds and secure data transmission are essential for DeFi applications to function properly.
The SCALE program participation indicates TRON’s long-term commitment to supporting its DeFi ecosystem. By subsidizing initial oracle costs, TRON aims to encourage developer activity and innovation on its network.
Justin Sun described the collaboration as opening a new chapter for TRON’s DeFi ecosystem, establishing a secure and scalable foundation for future development on the TRON Network.
The implementation timeline and specific technical details of the transition from WINkLink to Chainlink have not been disclosed in the initial announcement.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Chainlink Data Feeds is set to become the official data oracle solution for the TRON blockchain ecosystem, providing data feeds for TRON’s DeFi applications JustLend and JustStable.
In an Oct. 31 press release, TRON(TRX) announced that its community-governed DAO, TRON DAO, will discontinue all support and reliance on WINkLink as oracle solution for the TRON blockchain. Instead, TRON will be switching to Chainlink Data Feeds to provide pricing data on-chain.
In a blockchain, an oracle provide external data to on-chain smart contracts. Acting as a connector to external systems, oracles enable decentralized applications to access off-chain data and operate based on real-world events, like weather data, random numbers, price feeds, event outcomes, and much more.
As TRON’s new oracle solution, Chainlink’s industry-standard data oracles will help secure JustLend and JustStable. JustLend and JustStable are currently the two largest DeFi applications on TRON, representing over $6.5 billion in total value liquidity.
Based on current data from DeFi Llama, Chainlink holds the largest market share in the oracle industry with a total value secured of $26.17 billion. It ranks above competitors like WINkLink, Chronicle, and Pyth Network, which have a combined TVS of $18.4 billion.
According to the release, this partnership marks TRON’s participation in the Chainlink Scale program which it claims will “accelerate ecosystem growth and adoption.”
As part of the integration, TRON will temporarily cover certain operation costs associated with Chainlink Oracle networks, such as transaction gas fees, until those costs can be fully covered by DApp user fees.
Community Spokesperson at TRON DAO, Sam Elfarra, said that TRON’s decision to join the Chainlink Scale program is meant to accelerate TRON’s DeFi economy by giving developers access to Chainlink’s data oracle solution.
“Chainlink’s unmatched security and reliability made it the clear choice as TRON’s official oracle provider. This integration enables us to focus on scaling our ecosystem and further driving mass adoption in the blockchain industry,” said Elfarra.
Head of Blockchain Partnerships at Chainlink Labs, Thodoris Karakostas, stated that Chainlink hopes to secure the foundation of the TRON DeFi economy by providing decentralized market data on-chain.
“Chainlink will further empower TRON ecosystem developers to build next-gen DeFi applications and advance the decentralized internet,” said Karakostas.
As an oracle solution provider, Chainlink has accumulated over $16 trillion in transaction value and delivered more than 15 billion verified messages on-chain across the blockchain ecosystem. Furthermore, Chainlink Data Feeds secures tens of billions in TVL for hundreds of DeFi protocol.
CoinEx Global, a popular crypto exchange, has partnered with WINkLink Oracle, a prominent decentralized oracle platform developed on the TRON blockchain. The partnership is focused on providing reliable and accurate data to fortify DeFi apps. As CoinEx Global mentioned in its social media announcement, the strategic development is aimed at backing the DeFi expansion with reliable data solutions. Additionally, the collaboration enhances efficiency, security, and transparency across blockchain-based apps.
🚀 We’re excited to announce our official partnership with @WinkLink_Oracle!
Built on TRON, WINkLink delivers stable, reliable on-chain data to fuel DeFi innovation. As a decentralized oracle, it ensures smart contracts can access real-world information securely. pic.twitter.com/qbJrWI7Kn4
— CoinEx Global (@coinexcom) September 6, 2025 CoinEx Global and WINkLink Oracle Partner to Offer Dependable DeFi Data The partnership between CoinEx Global and WINkLink Oracle endeavors to bolster reliable data’s provision on TRON. In this respect, WINkLink Oracle plays a crucial role, filling the gap between real-world information and smart contracts. Additionally, with the integration of CoinEx Global, it guarantees that dApps seamlessly reach tamper-proof and stable data feeds. This strengthens smart contract execution and backs the rising demand for diverse decentralized solutions in diverse industries like supply chain management, gaming, and finance. Hence, the collaboration indicates the potential of CoinEx Global in expanding reach across the blockchain landscape.
Partnership Opens New Opportunities for Developers on TRON According to CoinEx Global, the developers can anticipate massive benefits from this partnership. The move paves the way for several possibilities with a robust decentralized oracle agenda. Thus, the developers can develop innovative dApps, enabling secure interaction with external data, taking into account market prices as well as weather data. Ultimately, the joint initiative bolsters DeFi growth and strengthens builders with infrastructure and tools to deliver cutting-edge blockchain solutions.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
WINkLink, a popular decentralized oracle ecosystem, has partnered with CoinEx, a well-known platform offering trading services. The collaboration aims to offer exclusive opportunities to drive wider blockchain adoption. As WINkLink’s official social media announcement reveals, the partnership is set to bolster blockchain accessibility. Hence, it will let decentralized applications (dApps) utilize accurate data apart from leveraging the global reach of CoinEx.
🚀WINkLink x CoinEx: Strategic Ecosystem Partnership
We are excited to announce our strategic partnership with @coinexcom, a global cryptocurrency exchange known for being secure, professional, and trusted. They are now the newest ecosystem partner for WINkLink.
Since the… pic.twitter.com/i5HUIg3T7X
— WINkLink (@WinkLink_Oracle) September 8, 2025 WINkLink x CoinEx Partnership Bolsters Blockchain Adoption with Robust Solutions In partnership with CoinEx, WINkLink endeavors to bolster blockchain adoption across the globe. In this respect, this development pays considerable attention to meeting the growing demand for dependable oracle solutions within the blockchain market. Additionally, while crypto exchanges are continuously evolving beyond trading, the integration between CoinEx and WINkLink indicates the potential of oracles to fortify the Web3 and DeFi utilities. This initiative also places both the firms as the leading platforms driving blockchain innovation.
Apart from that, the development also aligns with the rising market requirement for transparency, real-world usability, and trust. With this, the collaborators intend to boost real-world utilities of the blockchain technology, taking into account decentralized finance as well as the everyday services. Thus, this partnership is marked by the inclusion of the secure data streams delivered by WINkLink and the global accessibility of CoinEx for seamless transfers. Keeping this in view, the partnership is poised to establish a worldwide ecosystem for investors, users, and developers alike with a robust Web3 infrastructure and practical integration.
What Can Developers Expect from This Partnership? According to WINkLink, the collaboration benefits developers with several opportunities. Particularly, the developers will be able to reach relatively secure and dependable oracle services along with getting significant exposure to a broader consumer base via CoinEx. Overall, this joint effort focuses on allowing the development of dApps that are scalable and trustworthy, guaranteeing innovation and long-term blockchain growth.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
OneKey, a cutting-edge crypto wallet, has partnered with WINkLink, a popular decentralized oracle ecosystem. The main purpose of this collaboration is to bolster Web3 security to build trust among consumers. As OneKey disclosed in its official announcement on X, the partnership aims to combine its expertise in hardware wallet security with the dependable oracle services of WINkLink. Hence, the development is poised to fortify trust in the decentralized ecosystem by enabling seamless user access to on-chain data.
OneKey x WINkLink: Strategic Partnership
We are excited to announce that OneKey has officially entered into a strategic partnership with the decentralized oracle network WINkLink (@WinkLink_Oracle).
Since its inception, OneKey has been committed to providing users with… pic.twitter.com/MKZjgZSPkZ
— OneKey (@OneKeyHQ) September 25, 2025 OneKey-WINkLink Alliance Advance Web3 Transparency and Security In partnership with WINkLink, OneKey attempts to improve Web3 accessibility and security with verifiable and transparent custody solutions. With this, the users can anticipate complete control over digital assets. Additionally, the collaboration also highlights the strategic move taken by WINkLink to offer unparalleled access to verified data on-chain. In addition to this, the integration also permits consumers to get robust security and get relatively dependable, real-time data streams. In this respect, the initiative bridges the gap between real-world data and smart contracts.
Driving Web3 Evolution with Combined Custody and Oracle Solutions According to OneKey, the collaboration with WINkLink brings together self-custody hardware and reliable oracle feeds. This creates a next-gen infrastructure to guarantee data integrity while also minimizing vulnerabilities to promote trust among end users and developers. The development also unlocks unique possibilities to accelerate growth of NFTs, DeFi, and other blockchain-led innovations.
Ultimately, the joint effort is anticipated to substantially boost innovation within the Web3 landscape by unifying oracle-based data validation and self-custody security for wallets.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Biconomy.com, a renowned crypto exchange, has started a new partnership with WINkLink, a prominent decentralized oracle ecosystem on TRON network. The collaboration intends to link the dependable oracle data as well as the worldwide trading infrastructure. As disclosed by Biconomy.com in its official announcement, this initiative is set to improve liquidity access while also streamlining cross-network data flow. As a result of this, the development focuses on accelerating the global Web3 adoption, promoting decentralized innovation, and offering real-world utility to the overall TRON network and the wider blockchain communities.
Biconomy and WINkLink Join Forces to Strengthen Trading Infrastructure As a part of this collaboration, Bionomy will incorporate the decentralized oracle mechanism of WINkLink into its global trading ecosystem. Hence, the move brings more transparency and efficiency to decentralized trading. In this respect, by linking dependable oracle data nd the wider trading infrastructure, the partnership provides the basis for a relatively interconnected and secure Web3 sector.
Additionally, the initiative denotes another milestone for WINkLink, driving its objective to broaden its network via trusted partnerships. The firm has recently upgraded the oracle ecosystem thereof in an attempt to strengthen Web3 innovators, traders, and developers with robust data infrastructure. Simultaneously, the vast worldwide accessibility and trading abilities of Biconomy.com further elevate WINkLink’s advanced oracle services.
Partnership Establishes New Oracle Integration Standards to Drive Web3 Adoption According to Biconomy, the partnership with WINkLink also goes in line with the shared vision of the companies to boost Web3 adoption. Thus, by integrating the oracle services with the next-gen trading infrastructure, the duo aims to empower builders to develop more cutting-edge solutions, enhance transaction transparency, and guarantee more secure consumer experience. Overall, the strategic alliance establishes a new standard for integration of oracle into cryptocurrency trading to further evolve Web3 economy with trust and innovation.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
The gold vs silver trade is no longer moving as one. As a cooling oil trade and a tentative Iran peace deal reshape the macro backdrop, capital is quietly rotating toward one metal and away from the other. The latest positioning data shows the split across precious metals widening.
What looks like a calm market on the surface hides a clear preference underneath. The precious metals trade has started to favor one side, and the reason sits in how each metal relates to oil.
Where the Money Is Actually GoingThe clearest read comes from the Commitments of Traders report for June 9. This report breaks down how futures traders are positioned. Gold saw broad buying. Non-commercial longs rose 1,888 contracts, commercial longs jumped 5,135, and total open interest climbed 6,657, a build that spanned both speculators and hedgers. Open interest is the total number of contracts still active in the market, so a small rise means little fresh money committed.
Gold COT Positioning: TradingsterSilver told a thinner story. Its non-commercial longs fell 1,446 contracts, and while total longs edged up 1,055, open interest rose just 631. The contrast is the signal. Gold drew conviction buying while silver positioning barely moved. Also gold’s open interest, by contrast, climbed 6,657, nearly ten times more, which shows new capital pouring in rather than traders simply swapping positions.
Silver COT Positioning: TradingsterThat divergence sets the tone for the whole precious metals complex. When traders crowd into gold over silver, they favor the metal that behaves like a safe haven over the one tied to industrial demand. The next layer explains why that choice makes sense right now.
Oil Is Quietly Steering the TradeThe reason traces to correlation, or how closely these assets move together. Over the past 30 days, gold and crude oil show a negative correlation of 0.34, meaning gold tends to rise as oil falls. With the Iran deal pulling the oil trade sharply lower, that inverse link is working directly in gold’s favor.
Silver sits in a more conflicted spot. It correlates 0.82 with gold, so the two largely move together, but silver also carries heavy industrial demand, which loosely ties it to the same growth signals that move oil. Also, the silver-oil correlation is way lower at -0.15.
Three-Way Commodity Correlation: Charlie Quant LabThat dual identity dilutes its safe-haven pull exactly when the macro story is about falling energy and easing inflation. A weaker oil trade is a clean tailwind for gold but a mixed message for silver.
Gold, Silver, and Oil Price Performance: Charlie Quant LabThe gold silver ratio captures the tilt in a single number. It sits near 61.7, up off its recent lows, and a rising ratio signals a risk-off lean where gold is preferred, while a falling one points to reflation with silver leading.
Gold, Silver, and Oil Performance: Charlie Quant LabThe direction now favors gold, and relative performance confirms it, with gold holding near the top of the group while oil sits well below.
The Signal That Confirms Gold’s EdgeThe options market adds a check, and read carefully, it actually backs the gold side in the gold vs silver debate.
On the gold ETF, the put-call volume ratio rose from 0.73 to 0.78 since June 2. Also, the open-interest ratio edged up from 0.56 to 0.58, a tilt toward puts. That looks bearish at first, but it fits a crowded long. Traders who bought gold aggressively, as the futures data shows, tend to buy downside protection once the position has run, so rising put activity reads as hedging a winning trade rather than betting against it.
Gold Put-Call Ratios: BarchartSilver’s ETF (SLV) leaned the other way, but only slightly. Its put-call volume ratio fell from 0.44 to 0.40, a small shift toward calls. The open-interest ratio held near 0.53.
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The contrast is telling. On gold, the rising put activity comes alongside the heavy futures buying from the COT data. Therefore, the same metal drawing conviction longs is also the one whose holders are paying for downside protection. That is what a serious, crowded position looks like: money commits, then insures itself. Silver shows neither side of that. Its mild shift toward calls sits on top of flat futures positioning, which points to light speculative interest, a few traders reaching for upside rather than large players building and defending a stake.
Silver Put-Call Ratios: BarchartPut together, the options confirm the hierarchy rather than break it. Gold is the crowded, hedged trade that money takes seriously, and silver is the lighter side bet. Until that changes, the gold vs silver trade stays leaning toward gold as the defensive metal of choice, with silver lagging unless reflation takes hold and the oil trade turns back up.
When two settlement systems cannot interact atomically, one counterparty always goes first. CLS’s netting window works well for the flows it was designed to handle, reducing gross settlement amounts significantly.
The gap sits in same-day and deadline-driven payments and intraday liquidity management, where window-based settlement doesn’t fit, and one party can remain exposed for the duration of the business day. Fusion’s multi-ledger rollup is designed to eliminate that gap.
In this article, we explain exactly how the mechanism works, because in a market full of interoperability claims, how something works is a question worth asking.
Start with what a rollup is, then change one assumption A conventional rollup executes transactions off a base chain, then posts a compressed, verifiable record of that execution back to the base chain for settlement. The base chain provides finality and security; the rollup provides throughput and lower cost. This is a well-understood technology.
Fusion keeps the security model of a rollup and changes one assumption that every other rollup makes; that there is one base ledger.
A standard rollup is tied to a single chain and optimises that chain. Fusion is a multi-ledger rollup, a shared execution environment that connects to many ledgers at once, whether public blockchains, permissioned enterprise networks, or other distributed ledgers. Instead of making one chain faster, Fusion makes many chains interoperable inside one execution layer, while each asset keeps the trust properties of the network it came from.
This is why we call it a ‘Layer 2.5’. It does not issue a competing base asset and asks no one to abandon their existing chain. It is not a conventional Layer 2 either, because it is not bound to a single base. It sits between the infrastructure layers and connects them. Partior focuses on real-time cross-border clearing and settlement within its defined network of participant banks, Fnality supports atomic operations across systems via API integration. Fusion’s multi-ledger rollup achieves atomicity natively within a single execution environment, spanning public and permissioned ledgers where node access is available, reducing reliance on external API coordination.
The shared execution environment Inside the shared execution environment, a tokenised deposit native to a bank’s permissioned Hyperledger network, a stablecoin native to Ethereum, and a tokenised bond native to a third ledger can all be referenced and acted on by the same smart contract, in the same atomic execution.
Each asset is represented in Fusion in a way that preserves its origin-chain trust. The deposit is still governed by the bank’s network rules. The stablecoin still carries Ethereum’s finality. Fusion does not merge them into a lowest-common-denominator token. It gives them a common place to meet and a common language to transact in, and it records the outcome back to the ledgers that need to know.
The result is something the industry has wanted for years and never had safely: a transaction that touches multiple ledgers and either completes everywhere or completes nowhere. That is what closes the CLS-window equivalent for non-CLS flows, and what makes cross-ledger DvP, the core problem of securities settlement, achievable as a single event.
What removing the bridge means for institutions Most cross-chain systems move value by locking an asset on chain A, minting a synthetic copy on chain B, and trusting a bridge to keep the two in sync. That synthetic copy is the source of a large share of the value ever lost in this space. Wormhole lost approximately $320 million in a single exploit. Ronin Bridge lost approximately $625 million. Nomad lost approximately $190 million. The pattern repeats because the architecture invites it: every bridge is a honeypot holding the collateral for every wrapped token it has ever issued.
Fusion’s patented multi-ledger rollup takes a different approach. Where assets on Fusion are represented as unified tokens (uTokens), these are not created through the traditional bridge method of locking and minting across chains. There is no bridge contract to drain and no synthetic peg to break. That distinction is what removes the risk class that institutions are right to refuse to underwrite.
Who processes your transactions: the Trusted Node Program In a public network, validators are anonymous, and you transact with whoever happens to be in the set. This does not work for regulated workloads and is the main concern that DORA and third-party risk frameworks make explicit: you must be able to identify, assess, and take responsibility for the entities in your critical operational path.
Fusion’s Trusted Node Program lets an institution choose exactly who processes its transactions and where. Nodes are KYC-verified, and jurisdiction is a parameter you set, not a surprise you discover. This mirrors the recognised-operator model that Fnality uses for its Bank of England relationship, or the JV structure that gives Partior participants control over who runs their rails but applied to every transaction across Fusion’s multi-chain environment.
Privacy is a setting, not a sacrifice The privacy model on most chains is all or nothing. Public chains expose state to every participant on the network. Permissioned chains lock it down to consortium members. Fusion gives institutions a third option, configurable privacy at the smart contract level, where each contract can be public, permissioned, or fully private based on what the use case requires. Where Canton offers this within a defined capital-markets consortium, Fusion applies it across the full multi-chain environment.
Where does Fusion sit in the stack? Overledger connects. It is the interoperability layer that lets heterogeneous ledgers and enterprise systems communicate QuantNet establishes trust. It is the programmable settlement network through which institutions participate, integrating natively with Fusion Fusion controls. The multi-ledger rollup is the execution environment where multi-chain assets and contracts run under firewall-grade access control A transaction, end to end A bank wants a tokenised deposit on its permissioned network to settle a purchase of a tokenised security on a different ledger, atomically. This is cross-ledger DvP, the problem the industry has been working to solve since the T2S era.
The bank submits through Quant Connect, the Fusion Firewall verifies authorisation, and Fusion executes both legs as a single operation. The deposit and the security move together or not at all. Trusted Nodes chosen by the institution handle the processing. The result is atomic cross-ledger DvP with no bridge risk, no anonymous validators, and no settlement exposure window.
KuCoin has launched the KuCoin Wealth Quant Fund, marking the introduction of its first quantitative investment product under the KuCoin Wealth offering. The inaugural strategy, the Neutral Enhanced Fund, is aimed at high-net-worth investors seeking professionally managed digital asset exposure with a focus on long-term portfolio construction and risk management.
The launch comes as digital asset investors increasingly look beyond basic trading and yield-generating products. As the market evolves, professional and high-net-worth participants are placing greater emphasis on portfolio diversification, capital efficiency, and strategies designed to navigate different market conditions while reducing directional exposure.
This trend has created growing demand for investment solutions that sit between traditional crypto Earn products and institutional private fund offerings. While yield products remain widely accessible, they may not address the needs of investors seeking more sophisticated allocation strategies. Institutional-style funds, on the other hand, often involve higher investment thresholds, longer onboarding processes and more limited accessibility.
The KuCoin Wealth Quant Fund was developed to bridge that gap by offering a professionally managed market-neutral strategy through an exchange-native framework. The product provides standardized subscription and redemption processes, transparent net asset value calculations, and a clearly defined fee structure.
The fund utilizes quantitative market-neutral strategies, including arbitrage and long-short approaches, with the objective of reducing reliance on broader market direction. It is denominated in USDT and requires a minimum subscription of 50,000 USDT. Investors are subject to a 30-day lock-up period, providing a level of liquidity that differs from many longer-duration alternative investment vehicles.
The fee model is designed to align costs with investment performance. The fund does not charge subscription or management fees. Performance fees apply only when an investor’s NAV exceeds its individual high-water mark and generates new gains. No performance fee is charged during periods of drawdown or when NAV remains below the high-water mark.
The offering is supported by an independent custody framework, sub-account management structure, real-time monitoring capabilities and a range of risk management controls. According to KuCoin, the launch reflects the company’s broader efforts to expand its wealth management offerings and provide more structured investment solutions for users transitioning from active trading toward longer-term digital asset allocation strategies.
AUTHOR
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An exchange-branded wealth division launching a quant fund is no longer a curiosity. It’s a signal that the battle for institutional crypto wallets is shifting from custody and spot trading to managed strategies that look more like traditional asset management. KuCoin became the latest platform to push into that territory this week, announcing the KuCoin Wealth Quant Fund via a PRNewswire release.
The announcement is thin on strategy details—common for new fund launches where track record is yet to be built—but the intent is clear. KuCoin is targeting professional allocators who want systematic, rules-based exposure to digital assets without the emotional drag of discretionary trading. That’s the quant pitch, and it has become increasingly common as family offices, fund-of-funds, and smaller institutions look for ways to enter crypto without building internal trading desks.
What’s different now is the venue. Exchanges like KuCoin are no longer just marketplaces. They’re morphing into multi-line financial platforms—staking, lending, custody, and now wealth management products. That evolution mirrors what prime brokers did in traditional finance, bundling execution with advisory and allocation tools. For KuCoin, adding a quant fund under its Wealth umbrella gives it a product to retain assets that might otherwise migrate to dedicated crypto hedge funds or passive ETPs.
The timing matters. The past twelve months have seen a steady uptick in institutional infrastructure conversations, not just in the US but across Asia and the Middle East. The real-world asset tokenization market crossing $20 billion on-chain shows that serious capital is no longer sitting entirely on the sidelines. A quant fund from a recognizable exchange name lowers the perceived operational risk for allocators who still worry about counterparty quality at standalone funds.
What a Quant Fund Means in a Crypto Context Quantitative strategies in crypto typically fall into a few buckets: momentum and trend-following, mean-reversion, volatility arbitrage, and market-neutral pairs trades. For an exchange-backed fund, the infrastructure advantage is real. KuCoin can offer reduced latency, better fee structures, and potentially deeper liquidity access than an external manager negotiating as a client. That doesn’t guarantee performance, but it tightens the cost drag that erodes net returns in high-turnover strategies.
Investors should ask hard questions that the press release doesn’t answer. What’s the benchmark—Bitcoin, a basket of majors, or something custom? What’s the drawdown discipline? How are custody and counterparty risk separated from the exchange’s own balance sheet? These are the same questions that have dogged exchange-linked yield products in previous cycles. The difference now is that regulators in multiple jurisdictions are far less patient with commingled risks. Whether KuCoin’s structure satisfies that scrutiny will determine whether the fund attracts serious institutional checks or stays in the high-net-worth retail lane.
Institutional Demand, but Not Blind Faith The launch lands in a moment when institutional staking and allocation partnerships are making headlines outside the usual Bitcoin ETF flow. Nasdaq-listed firm interest in SUI staking earlier this year demonstrated that crypto demand is branching into protocol-level engagement, not just passive holding. A quant fund sits somewhere in between: not as direct as staking, but far more active than a spot ETF.
That middle ground is attractive to allocators who want returns uncorrelated to the simple beta of holding Bitcoin. But it also raises the stakes on risk management. Quant funds in traditional markets live and die by their factor models. In crypto, factors can shift violently because liquidity is fragmented and market structure changes fast—new exchanges, new derivatives, regulatory surprises. A model that works this quarter may fail next quarter if the market regime shifts. KuCoin’s Wealth team will need to show it can adapt without overfitting, and that’s a live risk that a launch announcement can’t resolve.
The Regulatory Shadow Over Exchange Wealth Products No exchange expanding into wealth management can ignore the regulatory temperature. In the US, banking interests are already pushing back against sweeping crypto legislation, and that fight is shaping the perimeter of what constitutes a regulated financial product. An exchange offering a fund—even if domiciled in a friendly jurisdiction—will eventually run into distribution questions if it touches US persons or institutions with US ties. KuCoin has historically operated with a different regulatory footprint than Coinbase or Kraken, and that will bring additional scrutiny from compliance officers at any institution conducting due diligence.
Still, the direction is set. Exchanges see the fee compression in spot trading and the regulatory ceilings on certain yield products, and they’re building out wealth layers to capture stickier, higher-margin assets. KuCoin’s quant fund is a small piece of a much larger puzzle, but it’s the kind of launch that reveals where the industry thinks the next wave of capital will come from—not retail speculation, but professionally managed money that needs systematic tools, credible reporting, and a recognizable name to write the first check.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
The only time performance fees are assessed is when an investor’s net asset value (NAV) reaches their own high-water mark and creates fresh gains. The KuCoin Wealth Quant Fund exemplifies KuCoin’s broader commitment to developing trusted, transparent, and responsible digital asset wealth management solutions. Today, KuCoin, a leading global cryptocurrency platform that is founded on trust, made an announcement on the debut of the KuCoin Wealth Quant Fund. This fund consists of the Neutral Enhanced Fund, which is the company’s first offering. A more organized approach to long-term capital allocation, risk management, and portfolio diversification is provided by the fund, which is designed for high-net-worth customers and incorporates digital asset strategies that are professionally managed and market-neutral into the KuCoin Wealth experience.
As the market for digital assets continues to develop, the requirements of investors are expanding beyond the availability of simple market access, spot trading, and basic revenue products. A growing number of high-net-worth users and professional investors are concentrating their attention on the ways in which digital assets can be managed more efficiently throughout market cycles, existing holdings can be activated, dependence on one-sided market exposure can be reduced, and better clarity can be gained on matters of strategy, fees, liquidity, and risk.
According to this transition, there is a layer of demand that exists between traditional crypto yield products and private fund solutions that are designed for institutional investors. Although users may access simple Earn product offerings, it is possible that these products do not entirely satisfy the requirements of customers who are looking for more complicated allocation techniques. The use of private funds and institutional solutions, on the other hand, may imply higher criteria, lengthier procedures, and less uniform access. This market need prompted the creation of KuCoin Wealth Quant Fund, which was intended to give access to a professional market-neutral strategy by means of an exchange-native product experience that included straightforward subscription, redemption, NAV, and fee methods.
Arbitrage and long-short trading are two examples of quantitative market-neutral methods that are used by the Neutral Enhanced Fund. The objective of these strategies is to reduce the fund’s reliance on the overall market fluctuations. The fund is denominated in USDT, has a very low minimum subscription requirement of 50,000 USDT, and offers a 30-day lock-up period, which provides investors with better liquidity than many longer-term options. The fund was designed to give both accessibility and flexibility to its investors.
One of the most important aspects of the fund is its transparency. The only time performance fees are assessed is when an investor’s net asset value (NAV) reaches their own high-water mark and creates fresh gains. There are no subscription or management costs. The fact that there is no performance fee charged during drawdown periods or when the net asset value (NAV) falls below the high-water level helps to ensure that fees are closely matched with the actual outcomes of the investment.
In addition to being supported by an independent custody framework, sub-account management, real-time monitoring, and comprehensive risk controls, the KuCoin Wealth Quant Fund exemplifies KuCoin’s broader commitment to developing trusted, transparent, and responsible digital asset wealth management solutions for users who are transitioning from trading to long-term allocation.
A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.
Ethereum (ETH) price slipped to about $1,711 as spot Ethereum ETF outflows extended to a seventh straight week even as the network’s own data points the other way.
A wider move out of the two largest crypto funds and into newer products looks like a rotation taking shape. Ethereum sits awkwardly in the middle of it.
Bitcoin and Ethereum ETFs Bleed a Seventh WeekSpot Bitcoin (BTC) ETFs booked a seventh straight week of redemptions. The weekly spot ETF flows, the gap between cash entering and leaving the funds, shrank from a $1.72 billion exit on June 5 to $68 million by June 22.
Bitcoin ETF Flows: SoSoValueEthereum ETF outflows matched that run at seven red weeks. The latest $66 million weekly exit was far smaller than the $255 million pulled in mid-May, so the bleeding is slowing. However, the new week has just started and it is important to see how things turn up by Friday.
Ethereum Spot ETF Weekly Flows: SoSoValueBoth majors are losing money, yet the pace is cooling rather than worsening.
The contrast shows up the moment the smaller funds enter the frame.
XRP, Solana and HYPE Funds Catch the BidWhile the majors bled, XRP ETF inflows ran for an eighth straight week, holding green even through early June’s price drop.
XRP Spot ETF Weekly Inflows: SoSoValueSolana (SOL) funds stayed mostly positive since mid-May, with only a couple of minor red weeks and about $836 million in net assets.
Solana Spot ETF Weekly Flows: SoSoValueHyperliquid (HYPE) funds have not printed a single red week since their May 13 launch, drawing about $183 million. The split looks like an early crypto ETF rotation, though the alt inflows are still small.
HYPE Spot ETF Weekly Flows: SoSoValueIf money is fleeing Ethereum, its network has not got the message.
Ethereum Staking Demand Dwarfs ExitsOn-chain signals clash with the ETF exit. The validator exit queue holds about 223,000 ETH waiting to unstake, against roughly 2.68 million ETH waiting to get in.
Ethereum Validator Queue Snapshot: ValidatorQueueThat is about twelve times more Ethereum staking demand than exit pressure, the opposite of what a sell wave looks like. Realized flows agree. Daily validator deposits turned net positive over the last ten days, after exit-heavy days earlier in June.
Validator Deposits Versus Withdrawals: DuneThe unstaked ETH that does reach exchanges stays small. Even the busiest day moved about 24,000 ETH, a fraction of the daily exchange inflows, which suggests exits are not feeding the market.
Exit ETH Reaching Exchanges: DuneExchange balances and the staking token tell the same calm story.
Exchange Outflows Ease and the stETH Peg HoldsThe exchange outflows picture is steady. The exchange net position change, a metric that tracks tokens moving in and out of exchanges, eased from about negative 564,000 ETH on June 9 to negative 442,000 by June 22, still a net withdrawal.
ETH Exchange Net Position Change: GlassnodeThe stETH peg held near 1.0 through ETH’s roughly 20% drop in early June. A clean peg suggests holders were not scrambling to unstake and sell.
stETH To ETH Peg Ratio: DuneSo if the chain looks committed, the rotation question moves to where flow is actually tilting.
A Quieter Rotation the ETF Numbers HideOne direct measure reframes the picture. A custom rotation score tracks ETH’s share of the combined BTC and ETH five-day net flow, then z-scores it against its own 30-day history. The reading is positive 1.05, which flags a tilt toward ETH. The catch is that ETH’s share of that flow is only 21%, so Bitcoin still takes most of it.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The score fires because it measures change, not level. ETH’s share had been running nearer 12% to 15%, so a jump to 21% sits about one standard deviation above its own norm.
BTC To ETH Rotation Signal: Charlie Quant LabIn plain terms, money is rotating toward ETH faster than usual at the margin, even while every ETF print stays red. Headline fund flows miss this, but a direct read of the flow split catches it. At just over the +1 line, this is an early and weak signal, not a confirmed trend.
That gap between the weekly ETF tape and the on-chain split sets up the real test.
What Would Confirm the Grand RotationFor now the grand rotation is a pattern, not a confirmed move. It needs XRP, SOL and HYPE inflows to scale while Bitcoin and Ethereum keep bleeding.
The thesis breaks in two ways. Green weekly prints for the majors would end it, and stalling alt inflows would do the same.
Ethereum stays the odd one out, with a healthy network and weak ETF demand at once. Continued Ethereum ETF outflows beside a positive rotation score suggest the cash leaving the fund is not all leaving the asset. A return to positive weekly flows separates an Ethereum ETF recovery from a deeper rotation into rival funds.
The US dollar’s rise to a 13-month high is weighing on metals. That has changed the debate around gold, silver, and copper heading into the end of 2026. The key question is which metal can withstand the pressure best.
Because these commodities are priced in dollars, a stronger greenback makes them more expensive outside the US. That puts gold, silver, and copper under the same pressure. The real separation now shows up in the ratios, weekly charts, and bank forecasts for year-end prices.
The Rising US Dollar Index is Pressing CommoditiesThe starting point for every metal right now is the dollar. The US Dollar Index (DXY), which measures the dollar against a basket of major currencies, has pushed above 100 to a 13-month high.
A stronger dollar makes dollar-priced commodities costlier for the rest of the world, which weighs on gold, silver, and copper. The same force has cooled risk appetite across crypto and stocks.
Want more insights like this? Sign up for Editor Harsh Notariya’s Daily Newsletter here.
The driver is the rate path. With the Federal Reserve seen holding rather than cutting in 2026, real yields stay firm, and the dollar stays bid, which is the headwind behind the recent metals pullback.
US Dollar Index Daily: TradingViewWith the DXY chart looking strong (bullish rising channel) and rate hikes back on the table, the case for a weaker dollar near term looks thin. That headwind affects the entire metals complex, bringing the focus back to which one holds up best.
The three metals are pulling in the same direction. Over the past six months, gold (XAU/USD) and silver (XAG/USD) show a correlation of 0.83; silver and copper, 0.72; and gold and copper, 0.61.
Correlation measures how closely two assets move together, where 1.0 is lockstep, and 0 is no link. Readings this high mean one shared trade, not three separate bets.
Three Metal Correlation Matrix: Charlie Quant LabSo the gold, silver, and copper forecast comes down to relative strength inside the complex, not to calling one metal up and another down. The ratios and the weekly charts decide it.
Gold sets the tone for the group, so it is the place to start.
Gold Holds a Falling Channel With Banks Far Apart(XAU/USD) has traded inside a falling channel since late January, when it peaked near $5,608. A falling channel is a downward drift between two parallel trendlines. Price tried to rebound on March 23, pushed higher, then rolled over again.
On the weekly chart, the line that matters is $4,027. Gold should hold above it. A weekly close under $4,027 opens the door toward $3,249, the prior breakout shelf.
To rebuild strength, gold needs to reclaim $4,400, and a move back above $5,004 would turn the weekly trend constructive again.
Gold Price Analysis: TradingViewThe bank split is wide. Goldman Sachs analysts Lina Thomas and Daan Struyven cut their year-end target to $4,900 on June 19, on the view that the Federal Reserve may not cut rates in 2026. JPMorgan sees $6,000 by year end despite the crowded bearish positioning.
Bearish investor positioning in gold options is extremely crowded:
The 6-month put-call skew on the largest US gold-backed ETF, $GLD, is up to 1.03, near the highest since 2017.
The put-call skew measures the relative cost of put options versus call options, rising when… pic.twitter.com/M9EKmlWqHo
— The Kobeissi Letter (@KobeissiLetter) June 17, 2026 Silver shares gold’s bearish pattern, but its chart hides a second setup.
Silver Tracks Gold but Builds a Double Bottom(XAG/USD) sits in the same falling channel, which the high correlation supports. Underneath it, a double bottom is taking shape, a pattern where price carves two similar lows and hints at a base.
The first hurdle is $66.53, which has already been rejected once. The level that matters is $75.36. A weekly move above the $75 zone would break the falling channel and turn the bias bullish.
The downside is clear if it fails. Under $59.40, the next stops are $52.27 and then $42.12. A larger trigger sits at $89.62, which would complete the double bottom and project a move of roughly 46%, though that is far off.
Silver Price Analysis: TradingViewThe fundamentals are supportive. The Silver Institute forecasts a sixth straight annual market deficit in 2026, near 215 million ounces, and the largest on record. Six straight years of deficit means the market is leaning on above-ground stock to fill the gap, a slow squeeze that supports silver over time.
Copper is the other half of silver’s story, the industrial pull, and right now, copper is the AI trade.
AI Trade Highlights Copper, Its Strengths and ProblemsCopper has been in a rising channel since 2024. It came close to breaking above that channel on May 11 and again on June 1, where a double top is now forming, a pattern of two failed highs that warns of exhaustion.
The structural case is the AI build-out. Goldman Sachs Research expects data-center power demand to rise about 165% by 2030, and sees grid and power infrastructure driving more than 60% of copper demand growth this decade, at roughly 6 to 8 tonnes of copper per megawatt of capacity.
So why has copper stalled just under its breakout? The AI trade has wobbled, and data-center policy risk has taken some heat out of the ascent. It shows up in the targets. Bank targets now straddle copper’s record price.
JPMorgan’s full-year 2026 average near $12,075 a tonne sits just below it, Goldman recently lifted its year-end call to about $13,735, and Citi is the highest near $15,000.
Copper Price Analysis: TradingViewOn the chart, copper needs to hold $6.12. Under it, expect a slip toward $6.04. A weekly break above $6.47 brings $6.68 and then $7.02 into play. The $6.68 level would confirm the real breakout.
In the per-pound terms the chart uses, the targets straddle copper’s current $6.16. JPMorgan’s 2026 average near $5.48 sits below it, Goldman’s raised year-end call near $6.23 is right at it, and Citi is the highest near $6.80, just above the $6.68 breakout.
The ratios between the metals show how this tension is resolving.
The Ratios Tell You Who Is LeadingThree ratios frame the macro tape. The gold-silver ratio has climbed from about 44 in January to 66 now. That is a risk-off tilt favoring gold, though 66 is not yet extreme enough to scream silver is cheap.
Commodity Ratios. Source: Charlie Quant LabThe gold-oil ratio has risen from about 41 on May 19 to 56, a stress reading where gold is strong and oil is weak.
The silver-copper ratio cuts the other way. It has fallen from about 19 in January to 10, with copper leading, a classic industrial-demand signal.
Silver to Copper Ratio: Charlie Quant LabThat is the core tension. Gold and oil say risk-off, silver and copper say industrial growth, and silver gets squeezed between the two regimes.
Put together, the three charts point to a clear pecking order into year-end.
The Gold, Silver, and Copper Forecast Into End-2026Copper is the structural leader. The AI and grid demand story is the strongest multi-year case of the three, but the chart has stalled at a double top, and most 2026 bank targets imply a near-term pullback from record levels.
Gold is the macro anchor. It carries the widest bank disagreement, a $1,100 gap between Goldman at $4,900 and JPMorgan at $6,000, and it leads only if stress and rate cuts dominate.
Silver is the high-beta wildcard. It lags both, yet a record supply deficit and a building double bottom give it the most catch-up room if either the macro or the industrial bid strengthens.
Gold Silver Copper 2026 Scorecard: BeInCryptoThe dollar is the switch. So while the DXY holds above 100, the complex stays capped, and copper’s $6.12 is the line that separates a fresh AI-led leg higher from a double-top unwind that pulls silver and gold down too. All thanks to the positive correlation between the three.
PANews reported on February 10th that, according to SoSoValue data, the cryptocurrency market saw a slight rebound after a period of continuous decline. Bitcoin (BTC) rose 0.45% in the last 24 hours, fluctuating narrowly around the $70,000 mark. Ethereum (ETH) rose 3.15%, breaking through $2,100. Meanwhile, the GameFi sector performed relatively well, rising 2.24%, with Axie Infinity (AXS) rising 16.31% and The Sandbox (SAND) rising 1.85% within the sector.
In other sectors, the PayFi sector rose 2.10% in the last 24 hours, with Monero (XMR) up 6.22% and XRP (XRP) up 2.06%; the Meme sector rose 1.18%, with MemeCore (M) up 11.41%; the Layer 1 sector rose 0.89%, with Solana (SOL) up 1.58%; the CeFi sector rose 0.84%, with NEXO (NEXO) up 3.47%; the Layer 2 sector rose 0.37%, with zkSync (ZK) up 5.28%; and the DeFi sector rose 0.03%, with River (RIVER) up 7.79%.
