SHIB v roce 2026 získal 150 017 nových držitelů, čímž jejich počet k 19. říjnu vzrostl na 1 698 647. Burzovní zůstatky však za 24 hodin vzrostly o 3,11 % na 449,6 mil. USD, což signalizuje prodejní tlak.
Shiba Inu’s [SHIB] holder base grew significantly in 2026. Reportedly, SHIB saw an additional 150,017 on-chain holders, bringing its total to 1,698,647 by the 19th of October.
In fact, the figure reflected a significant growth from the 1,548,630 holders recorded at the beginning of the year 2026. Additionally, SHIB also attracted attention following developments surrounding T. Rowe Price’s proposed multi-asset cryptocurrency ETF.
In particular, the proposed fund identified SHIB among the crypto assets eligible for potential exposure, offering another possible avenue for institutional participation.
Here, it is worth noting that the filing, however, did not confirm actual SHIB holdings or establish a dedicated spot ETF. Both developments nevertheless highlighted SHIB’s growing reach across both the retail and potential institutional markets.
Source: X
Alongside the improving token adoption, SHIB continued decreasing its circulating supply through its token-burning mechanism. According to Shibburn on X, the network reportedly burned 111,395 SHIB across two transactions during the 24-hour period.
The seven-day total meanwhile had reached 81,765,038 SHIB, highlighting a continued burning activity over a longer period.
Notably, the cumulative burns totaled approximately 410.85 trillion SHIB, representing a significant portion of the token’s original supply.
Rising reserves expose persistent selling pressure
Shiba Inu‘s Exchange Reserves surged as spot trading activity continued favoring sellers, despite the expanding adoption.
CryptoQuant reported the memecoin’s Exchange Reserve USD climbing 3.11% in 24 hours to $449.6 million as of writing, reflecting greater exchange-held token value.
This increase implied potentially greater selling availability, even though USD-denominated reserves also reflected valuation changes. The Spot Taker CVD additionally remained seller-dominant, which suggested a stronger aggressive selling than buying activity.
These indicators combined highlighted persistent selling pressure despite the improving adoption figures of the memecoin. Such conditions therefore placed greater significance on the token’s ability to defend its immediate technical support.
Source: SHIBA INU Exchange Reserve USD on CryptoQuant
Can SHIB defend its critical weekly support?
At the time of reporting, SHIB traded around $0.00000511 after struggling to sustain its weekly recovery towards the $0.0000060 resistance region. Subsequently, the price rejection pushed the memecoin toward the $0.0000050 support, where buyers had previously defended this support region.
Meanwhile, the CMF indicator showed an improvement toward neutrality, reaching -0.01 as pressure around capital outflow eased. On the contrary, the Stochastic RSI highlighted weakening bullish strength. A bearish crossover emerged after the indicator’s recent overbought conditions, raising concerns about another potential price decline.
Moreover, SHIB would need to maintain the $0.0000050 support, before another recovery toward $0.0000060 becomes possible. Alternatively, losing this key support would expose the $0.00000413 level, particularly in case the spot sellers keep maintaining control.
Source: SHIB/USDT Chart on TradingView
Final Summary
SHIB added 150,017 holders as proposed ETF exposure opened potential institutional opportunities.
Rising exchange reserves and persistent spot selling could threaten SHIB’s $0.0000050 support.
Convex Finance za poslední den vzrostl o 22 %; počet držitelů tokenu CVX dosáhl rekordu 32 410 a celková uzamčená hodnota (TVL) mezi 15. a 21. říjnem stoupla zhruba o 30 milionů USD.
Convex Finance [CVX] rallied significantly in the past day. The asset reached this level following a 22% increase in value to $260 million, while trading volume came closer to $26.66 million.
The gain followed an inflow of capital into CVX’s on-chain market, alongside a surge in the number of holders. Perpetual market activity also shows that traders are positioning for a possible upward rally.
CVX holders and income reach new highs In the past day, as CVX surged, there was a clear increase in the number of token holders, who reached an all-time high of 32,410. Between the 12th and the 21st of October, the number of CVX holders increased significantly, with 500 new holders added to the market.
Source: DeFiLlama A surge in the number of holders often indicates an inflow of capital into the asset. Another contributing factor has been Token Holder Income, which has performed relatively well since the start of October.
Roughly $499,000 has already been paid to Convex Finance holders this month.
Source: DeFiLlama On-chain activity supports CVX’s rally A surge in on-chain capital flow has helped support CVX’s price performance.
Total Value Locked (TVL), which tracks the value of capital deposited in a protocol, has gradually increased over the past couple of days. Between the 15th and the 21st of October, TVL surged by roughly $30 million, according to data available at press time.
A surge in TVL implies that investors are likely depositing more capital into the protocol because they anticipate that the asset will continue to perform well in the near term.
Source: DeFiLlama Likewise, there have been notable spikes in the fees generated by the protocol during this period, pointing to growing platform usage.
Within the same period as the TVL increase, fees generated rose from $25,626 to roughly $137,430 at the latest count, according to DeFiLlama. Growing activity and increased adoption of the asset add to its bullish market performance.
Positive Funding Rate backs bullish outlook Perpetual market activity reflects the same bullish outlook, with CVX’s Funding Rate remaining positive at 0.021%.
A positive Funding Rate indicates that long traders are paying funding fees to maintain their positions relative to short traders in the perpetual market.
Source: CoinGlass Typically, this occurs when traders expect the price to continue moving in the direction of the prevailing trend, which, in this case, is bullish.
A continued positive Funding Rate would imply that the asset is likely to maintain its bullish stance in the near term.
Final Summary Convex Finance rallied as token holders reached an all-time high of 32,410, with Token Holder Income hitting roughly $499,000 this month.
CVX’s TVL increased by $30 million, while protocol fees rose to $137,430, and the Funding Rate remained positive at 0.0021%.
SBI XDC Network APAC, SBI VC Trade a Shinhan Card podepsaly nezávazné memorandum o testování přeshraničních stablecoinových plateb a využití stablecoinu denominovaného v jenech v obchodech.
SBI XDC Network APAC and SBI VC Trade signed an MOU with Shinhan Card to explore stablecoin cross-border payments and yen stablecoin in-store use, with $XDC Network in focus.
SBI XDC Network APAC (@sbixdc) and SBI VC Trade (@sbivc_official), the group's licensed crypto exchange, have signed a non-binding memorandum of understanding (MOU) with Shinhan Card. The three companies will look at stablecoins for cross-border payments and explore linking a Japanese yen stablecoin to in-store payments, with test runs planned to check commercial viability.
What the MOU coversThe agreement is described as a phased collaboration across payment services, settlement solutions and blockchain infrastructure. according to FX News Group.
Shinhan Card is the card arm of Shinhan Financial Group. In its filings, That is consistent with the roughly 20 million card members cited in the announcement.
Reports on the agreement say the pilots could cover several use cases.
XDC Network and the wider pushBeyond payments, the deal touches the blockchain itself. @XDCNetwork is the chain behind $XDC. All three companies also plan to expand into cross-border trade settlement.
The timing fits a broader pattern at Shinhan. On the Japanese side,
Because the MOU is non-binding and no stablecoin type or launch timeline has been confirmed, the practical impact on $XDC and on cross-border payments between the two countries will depend on how the trials perform.
Sources:
FX News Group: SBI XDC Network APAC, SBI VC Trade sign MoU with Shinhan CardBitbase: Shinhan Card and SBI to pilot yen stablecoin paymentsShinhan Financial Group 6-K filing summary on Shinhan Card 2025 results
21 October 2026 | 18:52 Arbitrum (ARB) is up more than 5% on Wednesday, trading near $0.198 as buyers bounce from a three-layer support band and extend a break of its October downtrend.
KEY TAKEAWAYS
→ 50-day SMA and 0.382 Fib meet near $0.186.
→ Rallies keep stalling near $0.205 since mid-October.
→ RSI climbs back above its 50 midpoint.
→ ARB trades 22% below September’s $0.255 high.
On the ARB daily chart from TradingView, the rebound leaves the token about 169% above its mid-August low near $0.073.
From the September peak to an October base ARB’s August rally added nearly 250% before topping out in late September. The slide that followed broke the rising channel the token had tracked since late August, and on October 8 a wick reached the 0.5 Fib near $0.164 before buyers stepped in.
Arbitrum daily price chart. Source: TradingView ARB then spent two weeks building a base between roughly $0.17 and $0.20. Over the past few sessions it has pushed through the descending trendline from the September high, and Wednesday’s green candle extends that break.
Support stacks up just below the price The retracement found its footing at the 0.382 Fibonacci level of the August rally, and the 50-day SMA has climbed to almost the exact same price. The broken downtrend line now sits just underneath both. With three lines packed into a band less than a cent wide, this is the level buyers most need to hold.
Support band near $0.18–$0.186 0.382 Fib ~$0.186 50-day SMA ~$0.186 Former downtrend line ~$0.18 Resistance starts at $0.205 The top of the October base near $0.205 has turned back at least three rallies since mid-October, including Tuesday’s.
A little higher, the 0.236 Fib near $0.212 sits about 7% above the current price. It held as the floor of the late-September consolidation before breaking at the start of October, so it could cap the next leg up.
RSI has climbed to about 53, crossing back above its signal line while staying well short of overbought territory. The longer-term averages back the move: the 50-day SMA sits above the 100-day near $0.135 and the 200-day near $0.120, and all three are still rising.
Where the bounce could fail The bigger structure has not flipped yet. Each rally since the September peak has topped out lower than the one before, and Wednesday’s candle has yet to close. A daily close back under the support band would turn this week’s breakout into another false start.
Potential Moves ARB sits between the top of its base near $0.205 and the support band near $0.186. Upside A daily close above the base this week could open a move toward the 0.236 Fib, with the September high the next hurdle beyond it. Rejection Another failure there could pull ARB back to the support band. A daily close below it before the end of October could expose the 0.5 Fib. Bigger picture A pullback that holds above the 0.618 Fib near $0.143 would leave the August uptrend intact. What to watch beyond the chart Three dates could matter as much as any level on the chart.
Thu, Oct 22 Arbitrum DAO votes close. Four temperature checks end, including a plan to make Paxos’ USDG stablecoin a core strategic initiative and add 100 million ARB from the DAO treasury to the DeFi Renaissance Incentive Program (DRIP). Temperature checks are early, non-binding votes, and a pass would send the plan to an on-chain vote. Treasury tokens count as circulating once the DAO deploys them, so a bigger incentive budget could add to supply over time. Wed, Oct 28 Fed rate decision. The Federal Reserve announces its policy decision at 2:00 PM ET. Rate decisions often move the whole crypto market at once, which can override token-specific setups like this one. Mon, Nov 16 Next token unlock. Team, contributor and investor allocations unlock on the 16th of each month under ARB’s launch vesting schedule. That works out to about 92.65 million ARB per release, or roughly $18 million at the current price. Four more releases follow before the schedule ends in March 2027. Is it ARB or the whole market? Bitcoin and Ether also rose on Wednesday, but by smaller margins, with gains of roughly 1% to 3% depending on the time window. ARB’s jump outpaced both, so the bounce is more than the broader market lifting every token. Whether Thursday’s governance votes are playing a part is something the chart alone cannot show.
How we read this chart
Daily ARB/USD candles on TradingView, captured at 15:35 UTC on October 21, 2026, with the day’s candle still open. Daily candles close at 00:00 UTC.
Fibonacci levels run from the mid-August low to the late-September high. Indicators used: the 50-, 100- and 200-day simple moving averages and the 14-day RSI.
This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Kaspa dokončila standardy KCC-1, KCC-2 a KCC-20 pro rozhraní podmíněných transakcí, autorizaci a převody zastupitelných tokenů. Jde o dobrovolné ekosystémové konvence, které nevyžadují změnu konsenzu.
Kaspa’s KCC Coordination Forum has finalized three standards covering covenant interfaces, authorization, and fungible tokens, establishing shared specifications for developers building applications on the network.
Summary
KCC-1 defines shared interfaces for wallets, compilers, indexers, and other tools working with covenants. KCC-2 specifies five standard authorization schemes, including public keys, scripts, and covenant identifiers. KCC-20 sets token transfer rules and supports receiving tokens through an existing compatible output. Finalization establishes ecosystem conventions without changing consensus rules or requiring every participant to adopt them. KCC Coordination Forum said in an Oct. 21 announcement that KCC-1, KCC-2 and KCC-20 were final and ready for adoption across the ecosystem. The forum invited builders to join its public channel for questions, implementation discussions, and support.
Greetings $KAS. KCC-1, KCC-2 and KCC-20 are now Final, meaning they are ready for full adoption across the ecosystem.
We invite Kaspa builders to join the public KCC channel to ask questions, get support, discuss implementations and share what you build.
Come build with us.
— KCC Coordination Forum (@kccforum) October 21, 2026 Kaspa’s canonical standards repository lists all three documents as Final. Its index identifies KCC-1 as the covenant specification, KCC-2 as the authority specification, and KCC-20 as the application standard for fungible-token covenants.
The repository describes KCCs as shared conventions for independent implementations. Its documentation separates those conventions from changes to consensus or core-node behavior, which belong in Kaspa Improvement Proposals.
Kaspa standards cover different parts of application development KCC-1 defines common terms, data layouts and an application binary interface, or ABI, for covenants. The specification describes how software encodes information, calls program functions, and identifies the state carried between transactions.
Its authors, Romain Billot, Michael Sutton and Ori Newman, identify compilers, wallets, indexers and transaction builders among the tools that need to agree on those details. The document says independent implementations need common formats beyond simply producing scripts that pass consensus checks.
The KCC-1 specification leaves developers free to choose their programming language, compiler, and framework. Its shared interface covers program entry points, state templates, and rules for handling transactions involving multiple inputs.
Within the same document, the authors distinguish basic interface rules from features that depend on covenant identifiers. Programs without covenant bindings can follow KCC-1, but the specification says they do not receive the lineage and authorization guarantees supplied by KIP-20.
KCC-2 defines who can authorize an operation KCC-2, written by Billot and Sutton, specifies how programs identify an authority and the minimum checks required to establish its approval. An authority can be a public key, a commitment to a key, a script, or a continuing covenant lineage.
The specification assigns standard identifiers to five authorization schemes. Its public-key options cover Schnorr and ECDSA signatures, while its other options allow a script or covenant lineage to participate as an authority.
For public-key-hash authorization, KCC-2 requires the transaction to reveal the corresponding public key, match its hash against the stored authority value, and provide a valid signature. Higher-level specifications define the signed message and any further conditions.
The authority registry reserves separate ranges for standard and custom schemes. KCC-2 permits participants to adopt custom schemes without waiting for standardization, provided their definitions specify the format, meaning, and approval checks.
Under its covenant-identifier scheme, approval requires an input from the identified covenant lineage. KCC-2 says a higher-level convention can impose further checks on that input’s program and state.
KCC-20 sets token transfer and receiving rules KCC-20 builds on the first two standards, defining token amounts, ownership, and transfer interfaces. The document names Sivan Helfer, Sutton, Newman, and Billot as its authors.
Its specification requires each token covenant to publish program information that software can use to decode state and construct transfers. Configurations must disclose supported ownership schemes and limits on token inputs and outputs.
A feature called borrowed receive lets a sender use a recipient’s existing compatible token output as the destination. KCC-20 says the transaction recreates that output with more tokens, preserves its ownership and extended state, and cannot reduce its KAS value.
The security section warns that replacing the output changes its transaction reference, invalidating unconfirmed transactions spending the previous reference. A wallet must discover the replacement before spending it, according to the document.
The standard links an Argent reference implementation with generated SilverScript contracts and Rust conformance tests.
Final status carries implementation requirements KCC-0, the document governing the standards process, requires more than completion of a final review period. It says a standards-track convention needs human-readable and machine-readable test vectors, plus at least one public implementation that passes the machine-readable checks.
Dependencies must be Final for other KCCs or Active for KIPs, according to the same rules. KCC-0 says status changes occur through pull requests and the repository index must be updated with them.
KCC-0 describes machine-readable test vectors as the authoritative form for automated testing when they accompany human-readable examples. Its submission rules require security considerations to address threats, trust assumptions, and potential replay issues before a standards-track document can enter Last Call.
The governing document states that finalization does not require every ecosystem participant to implement a convention. Substantive changes generally require a replacement KCC, while corrections and clarifications follow the document’s amendment rules.
Kaspa’s application development has previously included separate Layer 2 infrastructure. Gate announced a Kasplex Layer 2 integration in April, enabling KAS deposits and withdrawals through the EVM-compatible network, as crypto.news reported.
In its earlier integration announcement, Gate said customers could transfer KAS from the base network to a Kasplex wallet. Kasplex’s project materials describe a two-way bridge and say developers familiar with Ethereum tools can deploy contracts by changing their remote procedure call endpoints.
Kasplex describes its design as a lightweight rollup that places EVM bytecode in Kaspa transactions and executes it off-chain. Its documentation says Kaspa supplies transaction ordering and data availability, while bridged KAS serves as the Layer 2 gas token.
DATA ukončí provoz vlastního blockchainu a po investici Sui Foundation ve výši 30 milionů USD přejde na síť Sui, aby se soustředila na ověřování původu trénovacích dat pro AI.
DATA shifted from its broad intellectual property ambitions to AI training data after finding that established licensing markets were difficult to disrupt, CEO Andrea Muttoni told CoinDesk.The startup is moving to Sui following a $30 million investment from Sui Foundation, allowing the company to focus on its data verification tools rather than maintaining its own blockchain.DATA's Trace registry tracks the origins, consent terms and licensing history of AI training data, with partner Kled adding millions of contributions each day.DATA, the blockchain startup backed by Andreessen Horowitz's a16z crypto and formerly known as Story Protocol, is shutting down its blockchain and moving to Sui after securing a $30 million investment from the network's foundation.
The move comes after spending years trying to bring intellectual property onchain. But after raising $140 million and building its own blockchain, the company found that changing how the world's intellectual property is licensed was harder than expected.
"We were trying to boil the ocean, and it was a very saturated and entrenched ocean," Andrea Muttoni, CEO of DATA Foundation, told CoinDesk in an interview.
That realization helped drive Story’s rebrand to DATA Foundation in June, when it shifted its attention to the market for AI training data. Four months later, the company is now narrowing its focus further to tracking the origins and usage rights of data used to train artificial intelligence models.
When the Bellevue, Washington-based startup was founded in 2022, the original plan covered everything from music royalties to patents and trademarks. The idea was to let owners register their intellectual property on a blockchain and set terms for how others could use it. The problem, Muttoni said, was that many of those industries already had systems in place, while large rights holders had little interest in making their intellectual property available for permissionless licensing.
"We were kind of spreading ourselves way too thin across so many different types of IP," he said.
Then came the rebrand earlier this year.
However, after that, the team began to question whether it still needed to maintain an entire blockchain, given that most of its work centered on a single product: Trace, which is a registry that records where training data comes from, who contributed it and what rights buyers have to use it.
Also, running a blockchain comes with costs, including engineers, validators, audits and infrastructure providers.
"Does it still make sense to run our own L1, or should we focus most of our energy on the protocol, on the product, on Trace?" he said.
That line of thinking led to the decision to shut down its blockchain and move to Sui.
Muttoni did not disclose how much of Story's original $140 million in funding remains, but said its existing investors, including a16z crypto, are still involved.
Now, Muttoni is positioning the new focus as a continuation of the first rebrand rather than another change in direction.
Finding a market in AI dataThe company's new strategy grew partly out of its experience with Poseidon, an AI data company incubated by the Story team that collects and processes data for training AI models.
Muttoni said the team found a market where buyers often had little way to check whether the datasets they were purchasing were original, properly licensed or even exclusive. In one case, vendors offered Poseidon supposedly exclusive datasets that were already available from other sellers.
"We were at one point given our own data set back to us," he said.
DATA is trying to address that problem through its product, Trace.
For example, when someone uploads a video or voice recording via a participating data marketplace, Trace creates a receipt for that file. The record includes details such as when it was submitted, the terms the contributor agreed to and any later licensing or payment events.
Kled, a marketplace that pays people to contribute data, accounts for much of the activity. Muttoni said the platform is adding between 3 million and 4 million contributions a day, including older records being brought onto Trace.
The figures show how much data is being registered, though not necessarily how much has been sold. DATA did not disclose how many records have generated licensing revenue.
The move comes as more crypto projects shift toward AI, betting on growing demand for training data and tools to track its origins. Muttoni estimates the AI training data market could be worth hundreds of billions of dollars.
For now, Muttoni said, the goal is not to compete with data marketplaces but to provide a record that buyers and sellers can check. "The main goal for now is being the infrastructure for, let's say, the auditability and provenance of data," he said.
He didn't rule out DATA eventually operating its own marketplace, but didn’t provide any further details.
Why Sui?Moving to Sui means DATA will no longer need to run its own blockchain, while gaining access to tools that Muttoni said fit what the company wants to build next.
One is Walrus, a decentralized storage platform that can hold copies of the original files registered through Trace. Another is Seal, which can encrypt those files and restrict access to buyers with the right permissions.
Today, Trace records information about a file rather than storing the file itself. Adding storage would let buyers compare what they receive with the original submission, making it easier to spot changes.
Sui Foundation will become DATA Network's largest institutional holder through its $30 million investment. Muttoni said Sui is taking a hands-off approach to DATA's product plans. Financial details weren’t disclosed.
The company also plans to move its existing token to Sui on a one-to-one basis, with its current blockchain remaining operational until the migration is complete. Existing $DATA tokens will move to Sui one-to-one, with holders retaining their rights and vesting schedules unchanged, according to a press release.
For Muttoni, the decision comes down to concentrating on the part of DATA’s original business that attracted the most interest.
"We were thinking of going in one direction, but you see the wind keeps pulling you in a different direction," he said. "Maybe the wind is coming from that way."
OKX sjednotila objednávkové knihy pro páry EUR a EURC, takže způsobilí uživatelé v EHP mohou obchodovat z jednoho zdroje likvidity a vypořádávat obchody v EUR nebo EURC v poměru 1:1.
OKX wants euro traders to stop taking the scenic route through the dollar.
The exchange is expanding euro-native trading around EURC, Circle’s euro-backed stablecoin. It is doing that with a unified euro order book that pools liquidity for both EUR and EURC trading pairs into a single venue.
The feature was announced on October 21, 2026. It lets eligible users in the European Economic Area (EEA) trade against one consolidated pool. They can then choose to settle in either euros or EURC at a fixed 1:1 rate.
How the unified euro order book works When EUR pairs and EURC pairs live in separate order books, each book holds only part of the available buy and sell orders. Thinner books can mean wider spreads and more price slippage on larger trades.
OKX’s fix is to put everyone in the same market. Orders placed against EUR and orders placed against EURC now meet in one combined book. When a trade executes, the user picks which currency they want to settle in.
The 1:1 conversion rate is the key piece. Because EURC is designed to track the euro, OKX treats the two as interchangeable at settlement.
Skipping the dollar detour Under the new model, euro trades no longer need to pass through dollar-denominated pairs.
Crypto markets have long been built around the US dollar and dollar stablecoins. A European trader wanting to move from euros into a crypto asset has often ended up touching dollars somewhere along the way, which can mean another spread, another fee, and some exposure to the euro-dollar exchange rate.
OKX says the euro-native setup is focused on better execution depth for euro pairs. The company also claims the feature creates the deepest liquidity available for EURC anywhere in the market.
That claim comes with a caveat. OKX has not publicly disclosed the actual depth of liquidity in the unified book. It also remains unclear how that pool compares with the size of the broader euro market.
Building on the dollar playbook This is not OKX’s first attempt at merging books. The exchange previously rolled out a unified USD order book with a similar goal: streamline order execution and avoid the fragmentation common across crypto markets.
EURC is not new to the platform either. OKX had already enabled EURC deposits, trading, and withdrawals before this launch. The unified order book is an upgrade to existing support rather than a first listing.
EURC is issued by Circle and backed by euro reserves. Circle has said the OKX integration supports wider utility for the stablecoin within Europe’s financial ecosystem.
What this means for traders and the market For European traders, the most immediate effect is simplicity. Eligible EEA users can trade in euros or EURC without picking a side of a split market and can settle in whichever currency suits their next move.
There are open questions worth watching. Without published liquidity figures, outside observers cannot yet confirm how deep the combined book really is. The feature is also available only to eligible users in the EEA, which means not every OKX customer will see it.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Lighter’s LIT token has climbed more than 20% to around $3.90 as attention has returned to its Robinhood Wallet partnership and Delphi Digital’s assessment of the exchange.
Summary
Robinhood announced the wallet integration in July, months before the latest token rally. 11 million LIT tokens were allocated to a rewards program for eligible traders. Delphi included Lighter in its research on businesses earning revenue from speculative trading. U.S. residents remain excluded from Lighter perpetual futures offered through Robinhood Wallet. CoinGecko showed LIT at $3.88, up 21.3% over 24 hours, with token trading volume of roughly $125.5 million. Its price page listed a daily range of $3.21 to $3.97 and a market capitalization near $974.4 million.
Against other major cryptocurrencies, the main panel showed LIT gaining 18.3% in Bitcoin terms and 17.6% against Ether. CoinGecko listed a circulating supply of 250 million tokens against a maximum supply of 1 billion.
Lighter’s Robinhood integration dates to July Robinhood announced access to Lighter perpetual futures inside its self-custody wallet on July 1. The company limited the service to eligible users in selected jurisdictions when it introduced the product.
The integration arrived alongside the Robinhood Chain mainnet launch, an Ethereum layer-2 network built using Arbitrum technology. Robinhood presented the rollout at its London event, as crypto.news previously reported.
Robinhood’s announcement allocated 11 million LIT tokens to its community through a points program. Eligible participants earn twice the points for perpetual futures trades through Robinhood Wallet compared with trades through Lighter’s web application, with points converting into tokens subject to the exchange’s terms.
A July 17 account of the Robinhood Wallet perpetuals partnership described USDG as both the collateral and the currency in which contracts are priced. It put the revenue split between Robinhood and Lighter at 50/50.
The same account traced the companies’ financial relationship to November 2025, when Robinhood Ventures participated in Lighter’s $68 million funding round at a valuation of roughly $1.5 billion. Robinhood CEO Vlad Tenev serves as an adviser to the exchange, according to that account.
Delphi places Lighter in its trading-platform thesis Delphi Digital discussed Lighter in an Oct. 20 report examining speculative trading businesses and the platforms that earn revenue from them. The research placed the exchange alongside Hyperliquid in its discussion of perpetual futures venues.
Using DefiLlama figures dated Oct. 6, the report listed approximately $56 billion in Lighter trading volume over 30 days. Comparable figures in the research were $203 billion for Hyperliquid, $66 billion for Variational and $60 billion for Aster.
Delphi cautioned that some activity across the category comes from traders farming incentives. Its chart noted that Lighter’s figure appeared to include the Robinhood Chain integration.
The researchers described Lighter as an order-book exchange using zero-knowledge proofs to verify matching, with ordinary accounts trading without fees. Their account listed stocks, commodities, and foreign exchange alongside cryptocurrencies among the venue’s markets.
With retail trading free, Delphi tied the business’s revenue opportunities to premium accounts and distribution agreements. The report described the Robinhood arrangement as a revenue-sharing deal operating outside the United States since July.
Robinhood’s disclosures exclude U.S. residents Robinhood’s product disclosures say Lighter perpetual futures are unavailable to residents of the United States, United Kingdom, Canada, Switzerland, United Arab Emirates and Singapore, alongside other restricted jurisdictions.
The company states that users execute transactions directly through their self-custody wallets and Lighter’s smart contracts. Robinhood Non-Custodial supplies wallet-management services for that interaction, according to the disclosures.
The July launch account separately described Robinhood’s Stock Tokens as debt securities providing economic exposure to underlying equities. Holders do not receive ownership of the underlying shares or voting rights, according to the company’s explanation.
Robinhood said eligible users could trade those tokens around the clock and use them across decentralized applications, including lending services and collateral arrangements.
Lighter’s latest developer release remains a devnet Away from the wallet partnership, Axiom announced a public Lighter EVM development network on Oct. 16. The release connects an Ethereum-compatible environment with Lighter Core, its order-matching and risk engine.
Axiom said smart contracts can read account balances, positions, orders, and market information through the connection. Contracts can submit, change, and cancel trading orders through asynchronous instructions that execute in seconds.
The Oct. 16 account of the Lighter EVM devnet release described one-second blocks, ETH gas payments, and support for Ethereum development tools including Foundry, Hardhat, Viem, and Ethers.
The launch post said developers could deposit assets from the devnet settlement layer, transfer them between Core and EVM, and withdraw to that settlement layer.
Lighter’s developer documentation identified limits in the test environment, including mocked proofs for settlement finalization and an asset-recovery mechanism that was not fully functional. Requests to read Core data worked only at the latest block, with historical reads planned for a later update.
Axiom said developers were being admitted in groups and could review public documentation and bridge-contract code while applying for access. The team planned to open the network to all developers in the following weeks.
Ethena [ENA] is among the most widely used DeFi protocols, providing liquidity through its USDe stablecoin. Over the past 24 hours, the altcoin has grown by over 7%, that is, from $0.18 to $0.20.
Its daily trading volume is in excess of $405 million. However, ENA has started to face rejection, despite some analysts projecting an upside potential.
Understanding Ethena’s fundamentals Recently, Lark Davies announced he had bought a bag of Ethena tokens after conducting detailed research. The analyst cited that Ethena had generated over $1 billion in real fees and not emissions or printed tokens.
This was actual revenue, and almost none of that had gone to the people holding ENA tokens. But that was about to change, as these fees would fund a buyback mechanism.
Lark Davies argues that it could be the best bet on stablecoins and potentially better than Circle [CRCL] due to the upcoming buyback program.
Additionally, its Total Value Locked [TVL] has grown $1.32 billion since early August. Its most recent daily fees were over $4 million.
Source: DefiLlama Moreover, Janus Henderson Investors, which took a position in ENA in June, plans to use its staked USDe for cash management. This follows Ethena’s integration of Janus Henderson’s AAA CLO strategy.
These are AAA-rated floating-rate collateralized loan obligation tranches, tokenized via Centrifuge [CFG], and are eligible backing assets for USDe. This move shows traditional finance (TradFi) is catching ENA bids.
Is ENA’s correction about to end? While these are bullish signs, Ethena has been in a downtrend due to long liquidations and whale sales. However, that could come to an end soon as the price action starts to shift.
Currently, ENA is bouncing off an Optimal Trade Entry (OTE) that lies between the 0.618 and 0.786 Fibonacci Retracement levels. The altcoin has reclaimed $0.20 but needs to flip the $0.215 level into support.
This would mean the price entering the premium zone is now at a discount. The MACD has turned bullish, suggesting it’s taking into account the looming fundamental changes.
Source: ENA/USDT on TradingView Furthermore, the CVD shows that over 23.76 million ENA were bought at press time. In case the uptrend stays alive, then $0.30 becomes the next target, while failure would cause a full retracement to $0.135.
Final Summary Some analysts project a bullish trajectory for Ethena due to an upcoming buyback mechanism funded by fees. ENA was bouncing off $0.18 but needed to clear $0.215 as resistance to confirm a bullish trend shift.
Ondo Finance tokenized instruments reached 166,723 active addresses over 30 days, up 100.16% in three months, passing PayPal's PYUSD stablecoin in active users.
Ondo Finance's tokenized instruments have doubled their on-chain user base in three months, according to on-chain data. The products recorded 166,723 active addresses over the last 30-day period, a 100.16% increase from 83,295 active addresses three months earlier.
The figure puts Ondo's on-chain presence ahead of the active user base of PayPal's dollar stablecoin, $PYUSD, which has a market capitalization of $2.86 billion.
What is driving Ondo's growthOndo began by tokenizing U.S. Treasuries and now offers a wider range of products. Ondo Finance said the total value locked across its products has crossed $4 billion, a milestone driven by growth in tokenized stocks and exchange-traded funds (ETFs). The company said more than $1.3 billion of that total now sits in tokenized stocks and ETFs, and that its products have drawn more than 1 million cumulative holders.
Ondo's Treasury business is also expanding. Crypto Briefing reported, citing Token Terminal data, that Ondo added $41.6 million in market cap over seven days, ahead of Superstate at $34.2 million. The same report said Ondo crossed $3 billion in tokenized U.S. Treasury assets on October 13, 2026, with its USDY product accounting for about $2.328 billion of that total.
Ondo's reach across networks may also be helping user numbers. According to a KuCoin News summary of Ondo's disclosure, Ondo Stocks can be transferred permissionlessly on Solana, Ethereum and BNB Chain.
How PYUSD comparesPayPal USD is a regulated stablecoin. CoinMarketCap describes $PYUSD as issued by Paxos Trust Company and backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Its market capitalization has hovered near the $2.8 billion to $2.9 billion range in recent weeks, according to market data aggregators such as Bybit, which listed $2.84 billion as of October 20, 2026.
The comparison is limited. Active addresses measure wallet activity, not the amount of capital held, and the two products serve different purposes. PYUSD is a payments-oriented stablecoin, while Ondo's instruments are investment products such as tokenized Treasuries and stocks. Address counts can also vary depending on the data provider and how activity is measured.
Even so, the jump in active addresses points to growing demand for tokenized real-world assets (RWAs), as issuers expand from Treasuries into equities and other asset classes.
SourcesOndo Finance Says Total Value Locked Has Topped $4 Billion (Yahoo Finance)
Ondo and Superstate lead weekly growth in tokenized US T-bill market (Crypto Briefing)
PayPal USD price and statistics (CoinMarketCap)
Ondo Global Markets se v květnu 2026 stalo první platformou, která dosáhla celkové uzamčené hodnoty (TVL) 1 miliardy USD, a nabízí více než 450 tokenizovaných akcií a ETF pro způsobilé investory mimo USA.
Tokenized stocks have tripled in 2026, growing from under $1 billion to more than $3 billion in onchain market cap in just eight months. That growth has the attention of the world’s most important financial institutions, which are no longer asking whether tokenization belongs in global markets but how to build around it.
In October, the IMF dedicated a chapter of its Global Financial Stability Report to tokenization, naming Ondo Finance among the largest tokenization providers and using Ondo Stocks in its analysis. Its findings show what investors want from tokenized stocks: the ability to trade around the clock, act on news as it breaks, and put their assets to work.
Ondo Stocks has been built for that demand from day one, setting milestones the rest of the category now measures itself against:
First to bring traditional finance liquidity onchain, minting and redeeming through U.S.-registered broker-dealers against the liquidity of traditional exchanges like Nasdaq and NYSE. First to scale to hundreds of permissionless tokenized stocks, with more than 450 stocks and ETFs available to eligible non-U.S. investors. First to reach $1 billion in total value locked (TVL) in May 2026, the total value of assets deposited in the platform. First with real 24/7 trading, with minting and redemption live around the clock for 25+ of the most popular Ondo Stocks, including Apple, Nvidia, and Tesla. What is Ondo Stocks? Ondo Stocks (previously known as Ondo Global Markets) has tokenized more than 450 stocks and ETFs, making them accessible to billions of eligible investors outside the U.S. Each token is fully backed by the underlying shares together with cash in transit, and mints and redeems to the liquidity of traditional markets such as Nasdaq and NYSE. That connection helps enable large trades with minimal slippage. Beyond trading, Ondo Stocks can be used as collateral across DeFi, and participating institutions can convert shares they already hold. Eligible investors outside the U.S. can gain exposure to U.S. stocks and ETFs onchain.
Here’s What Sets Ondo Stocks Apart 1. Connecting to TradFi Liquidity Liquidity on other tokenization platforms is limited because it relies on onchain liquidity alone. Those platforms are disconnected from traditional markets, so they have to bootstrap their own liquidity onchain. Ondo Stocks overcomes that limit by tapping into the deep liquidity of traditional markets. Ondo Stocks mints and redeems against the liquidity of exchanges like Nasdaq and NYSE. These venues process hundreds of billions in daily volume. This helps provide decreased slippage (the gap between the price you expect and the price you get) in a 24/7 environment. The result is that Ondo Stocks can be bought and sold at scale, with consistent execution.
2. Bringing True 24/7 to Tokenized Stocks Ondo Stocks recently became the first tokenization platform to support 24/7 minting and redemption for tokenized stocks and ETFs. Minting and redemption are live around the clock for 25+ of the most popular Ondo Stocks, including Apple, Nvidia and Tesla, across BNB Chain, Ethereum, and Solana.
Eligible users outside the U.S. can enter and exit positions at any hour, including weekends and public holidays. On other platforms, 24/7 features were limited to secondary-market transfers on centralized or decentralized exchanges, where thin onchain liquidity can lead to high execution costs. Market-moving news doesn't wait for the Monday open. Until now, tokenized stock holders had to either wait for the market to reopen or accept high slippage in thin onchain liquidity pools. The weekend data below shows the difference.
3. Institutional-Grade Investor Protections Ondo Stocks are built with several protections for holders. Each token is fully backed and secured by U.S. stocks and ETFs held at one or more U.S.-registered broker-dealers, along with cash in transit. An independent third-party Verification Agent reviews the asset backing and publishes a report each business day. An independent third-party Security Agent holds a first-priority security interest in the underlying assets for the benefit of token holders, and the structure is designed for bankruptcy remoteness. The underlying securities are not lent out without express token holder consent.
4. Global Access Across Ethereum, BNB Chain and Solana Ondo Stocks is built for a global audience. Eligible investors outside the U.S. can hold and trade Ondo Stocks on Ethereum, BNB Chain, and Solana, and more than 450,000 holders already do. Ondo Stocks are available through the Ondo web app and across platforms including 1inch Fusion, UniswapX, MetaMask, Ledger, Trust Wallet, Binance Wallet, Bitget Wallet, KuCoin, Gate, and MEXC, where available, and select Ondo Stocks are also admitted to trading on Nest Exchange, a Binance-operated venue in Abu Dhabi.
5. Composable Across DeFi Composability means onchain assets can plug into one another like building blocks. Because Ondo Stocks are tokens, holders can swap them on decentralized exchanges and aggregators, keep them in self-custody wallets, and use them in DeFi apps, all around the clock. It also means new products can be built directly on top of them, as the portfolios below show.
Ondo Stocks can be used as collateral in lending markets and for perpetual futures trading. On Morpho, SPYon, and QQQon can back stablecoin borrowing in isolated lending markets, with risk parameters managed by Gauntlet. On Euler, SPYon, QQQon and TSLAon can be used to borrow stablecoins, with risk parameters set by Sentora. On Ondo Perps, traders can post tokenized stocks and ETFs directly as margin, starting with SPYon and QQQon for Pre-Alpha users. Ondo Perps is built to draw on the real liquidity of the underlying markets. For market makers, hedging with tokenized stocks as collateral can improve capital efficiency, which means more capital deployed and deeper liquidity for everyone.
6. 450+ Tokenized Stocks and ETFs Across Every Sector Ondo Stocks covers more than 450 U.S. stocks and ETFs. Sectors include technology, semiconductors, AI and data infrastructure, consumer, financials, digital assets, energy and utilities, industrials, healthcare, mining and materials, fixed income, commodities, international ETFs, defense, space, quantum, cybersecurity, and many more.
7. Institutions Can Convert Underlying Shares Into Ondo Stocks Approved institutions can turn shares they already hold into Ondo Stocks, and back again. Through Alpaca's Instant Tokenization Network, those shares become tokens on Ethereum or BNB Chain without the institution sourcing separate cash. For market makers, that means inventory they already hold can become onchain liquidity, which Ondo expects to support tighter spreads and deeper secondary-market liquidity.
8. Bringing Voting Preferences to Tokenized Stocks
Ondo has partnered with Broadridge so that holders of Ondo Stocks will be able to express voting preferences for the underlying shares. Holders will also be able to review prospectuses, regulatory filings, and other governance information through Broadridge's investor communications infrastructure.
"By working with Broadridge, we are enabling holders of our onchain wrapper stocks to access governance and voting capabilities like holders of the traditional offchain stocks, with all the additional benefits onchain wrapper tokens provide."
— Matthieu de Vergnes, MD, Global Head of Institutional at Ondo Finance
9. Curated Portfolios, Built With Ondo Stocks Ondo Stocks are the building blocks for Ondo Intelligent Portfolios, a new onchain product category. Ondo intelligent Portfolios are curated portfolios delivered as single onchain transferable tokens, whose underlying positions are Ondo Stocks. Ondo intelligent Portfolios are designed to scale with Ondo Stocks. The more stocks and ETFs available on Ondo Stocks, the more assets Intelligent Portfolios can choose from. The first three portfolios launched are based on strategies developed by BlackRock for Ondo, marking the first time eligible investors outside the U.S. can access onchain exposure to a full strategy through a single token.
Being onchain also unlocks programmatic rebalancing, onchain transparency, and multiple asset classes in a single token. Ondo Intelligent Portfolios offer diversified exposure in a single token with transferability and transparency of the blockchain.
Ondo Stocks vs. Others Put it all together and Ondo Stocks combines the best of traditional finance with the best of blockchain: the liquidity and asset backing of traditional markets, with the 24/7 access, transferability, and DeFi compatibility of onchain tokens.
Case Study: A 40% Return With Tokenized Stocks in 35 Days
Deep liquidity and fast redemption matter most at scale. Here’s one example of both in practice.
One wallet has already used Ondo Stocks to execute one of the largest trades in the history of tokenization technology thus far. It built a $13.5M position in CRCLon, the Ondo Stock for Circle, and redeemed at a 40% return in 35 days.
It started on January 19, 2026, when the wallet began accumulating CRCLon through Ondo Stocks. Over the following weeks, the wallet built a $13.5M position. By February 22-23, 2026, the wallet had redeemed a substantial portion of the position, receiving $18.9M in proceeds. A $13.5M position, built and redeemed entirely onchain, with the liquidity of traditional markets behind it.
*The change in the position's value over the period given above reflects movements in Circle's share price. A similar position could have lost value. This example illustrates liquidity and redemption features of Ondo Stocks and is not in any way a recommendation, guarantee of returns, or investment advice. Past performance is not indicative of future results.
Conclusion Ondo has spent years building the infrastructure for tokenized markets, and it is not slowing down.Tokenized stocks, portfolios, and U.S. Treasuries are all part of the same platform. As markets move onchain, Ondo is building the infrastructure where they will run.
PaperTrade uznal zprávy o pokusech o manipulaci s kotacemi ETH v rámci BBO platformy Hyperliquid, kterou používá pro referenční ceny při exekuci BTC a ETH. V reakci zpřísnil limity otevřeného zájmu on-chain i prostřednictvím relayerů.
PaperTrade has acknowledged reports of manipulation attempts on Hyperliquid’s best-bid/offer (BBO) used for synthetic execution. The incident involves attempts to shift Hyperliquid’s ETH quotes, impacting the reference prices used by PaperTrade for its BTC and ETH execution. PaperTrade has responded by tightening open-interest limits on-chain and through relayers. The situation highlights concerns over PaperTrade’s reliance on external price feeds and its exposure controls, although there is no indication of a breach in Hyperliquid’s native system.
Key Takeaways Reports suggest manipulation attempts on Hyperliquid BBO, which PaperTrade uses for reference pricing. PaperTrade is addressing the issue by tightening open-interest limits and enhancing controls. Market pricing suggests a decrease in confidence, reflected in reduced odds for PaperTrade’s FDV exceeding $25M. What to Watch Market participants will closely monitor any further measures PaperTrade implements to enhance security and control. The upcoming launch of PaperTrade’s token and its market reception will be key indicators of investor confidence. Developments in the Hyperliquid platform’s stability and any official announcements regarding improvements or partnerships will also be pivotal in shaping market sentiment.
Term Structure
Contract Odds Δ since publish Volume 24h January 1 2028 50% — — View market → January 1 2028 44.5% — — View market → January 1 2028 36.5% — — View market → January 1 2028 24% — — View market → January 1 2028 29% — — View market → January 1 2028 23.5% — — View market → January 1 2028 46% — — View market → January 1 2028 17% — — View market →
Aster has launched pre-market perpetual futures for the Predict.fun token $PREDICT with up to 5x leverage, opening synthetic price discovery before the token generation event.
Decentralised exchange @Aster_DEX has launched pre-market perpetual futures contracts for $PREDICT, the token of prediction market protocol @predictdotfun. The listing opens synthetic price discovery ahead of the protocol's token generation event (TGE).
The new market allows up to 5x leverage. That gives traders and funds a way to take a view on the value of the protocol before spot exchange listings begin.
What the Aster listing offersPre-market perpetuals are derivatives that track an expected price for a token that is not yet trading in the spot market. Because no spot price exists, the contract price reflects what market participants think the token will be worth at launch. Leverage amplifies both gains and losses, so positions carry a higher risk of liquidation than unleveraged trades.
The listing appeared on Aster's trading list on October 21. TechFlow reported that the page showed up to 5x leverage and that trading was expected to go live at 8 PM that evening.
Aster describes itself as a decentralised exchange. BitMEX Research notes that it was created through the merger of DeFi protocols Astherus and APX Finance in 2025 and supports perpetual contracts for stocks, commodities and forex settled in crypto.
Predict.fun and the token's path to launchPredict.fun is a prediction market on BNB Chain where users trade the outcomes of real-world events. According to Bitrue's overview, users trade with USDT or USDC while earning DeFi yield on their collateral.
Interest in the token has built for several weeks. ChainCatcher reported that the project teased a token with a post reading "Soon" earlier this month. Coingabbar reported that a separate pre-market on Aspecta opened on October 9 at an $800 million fully diluted valuation (FDV). The same report said no TGE date had been confirmed at the time.
Pre-market prices are indicative and can diverge sharply from where a token trades once spot markets open. Traders should check the contract terms, funding mechanics and settlement rules on each venue before taking a position.
SourcesTechFlow: Predict.fun token pre-market on Aster
Coingabbar: Predict.fun token pre-market on Aspecta
BitMEX: Aster overview
Stablecoin USD1 od World Liberty Financial zaznamenal během jediného dne objem obchodování přes 1,6 miliardy USD: přibližně 950 milionů USD na spotovém trhu a přibližně 650 milionů USD v perpetuálních futures.
World Liberty Financial USD (USD1) recorded about $1.6B in daily trading volume across spot and perpetual markets, with new Binance and Aster DEX listings.
World Liberty Financial’s $USD1 stablecoin recorded more than $1.6 billion in trading volume in a single day, according to figures shared by @worldlibertyfi. Spot markets accounted for about $950 million of Tuesday’s total, while perpetual futures contributed about $650 million.
The stablecoin now trades on @binance, @Aster_DEX, @Gate, @MEXC and @Bybit_Official.
Exchanges expand USD1 supportBinance has added a spot pair for Ethena’s $ENA against USD1 and extended its USD1 rewards campaign to Oct. 30. Aster DEX now lists 25 markets that use USD1 as collateral, 15 of them new.
Binance has used incentives to promote the token before. An earlier USD1 airdrop campaign ran from May 15 to June 12, 2026, rewarding users who held USD1 on the platform with variable WLFI token rewards , according to Traders Union. The exchange has also listed other USD1-quoted pairs. In January it opened spot trading for LINK/USD1 and PEPE/USD1 , per Crypto Adventure.
What USD1 is World Liberty Financial USD (USD1) is a stablecoin issued by World Liberty Financial Inc., designed to maintain a 1:1 peg with the US dollar. It operates on Ethereum and BNB Smart Chain, and its reserves are reportedly composed of short-term US Treasuries, USD cash deposits and USD-equivalent instruments , according to CoinDesk. BitGo provides custody and infrastructure, handling issuance, redemptions and daily reconciliation.
Circulation has grown since launch. World Liberty Financial has said USD1 circulation has grown past $4 billion , as reported by Blockonomi. The same report noted that lawmakers continue to question foreign ownership links tied to the company .
The latest volume figure puts daily turnover at a sizeable share of that supply, with perpetual markets now a major part of activity. The rewards extension and new collateral markets suggest exchanges are still working to deepen USD1 liquidity.
Sources:
CoinDesk: World Liberty Financial USD (USD1) price and overviewBlockonomi: USD1 stablecoin tops $4 billion in circulationTraders Union: Binance USD1 airdrop campaign details
Bitcoin spolu s technologickými akciemi vzrostl až o 2,4 % na 84 737 USD; zájem o perpetuální futures po týdnech snižování pákového efektu znovu roste.
Bitcoin climbed alongside technology stocks as a revival in risk appetite spread to cryptocurrencies, lifting the token out of a bout of listless trading and offering another sign of resurgent speculative fervor across global markets.
The original digital asset rose as much as 2.4% to $84,737 as a rally sparked by SpaceX earnings helped reignite enthusiasm for riskier assets, even as questions lingered over the sustainability of the artificial intelligence boom.
Also helping sentiment: the Office of the Comptroller of the Currency unveiled a final measure for payment stablecoin issuers, in latest sign pro-industry development.
The latest uptick has been in part driven by a rebuilding of leverage via perpetual futures. Open interest, or the total outstanding number of the futures contracts, has been rising again after weeks of deleveraging, according to data compiled by Coinglass.
“Risk assets in general got a lift from solid earnings and renewed AI interest while oil remains elevated and choppy.” said Jasper De Maere, an over-the-counter trader at Wintermute. “At the moment, this still feels like a recovery vs the start of a rally, however that could turn quickly if we approach $87,000 Bitcoin** **with decent momentum.”
Besides futures, the crypto options market is posing a bullish posture as well with demand clustered around call contracts at the strike prices of $95,000, $90,000 and $100,000, according to crypto exchange Deribit.
“The longs that were on got cleared out on the way down, and a good part of the bounce was shorts closing. That’s largely positioning resetting rather than new leverage going on,” said Himanshu Sahay, co-founder of Arch Lending.
Many analysts are monitoring Bitcoin ETF flows for a read on the health of the rally and retail investor involvement. Over the past month, some $2.3 billion has gone into spot funds, data compiled by Bloomberg show, suggesting renewed investor interest. Within the cohort of offerings, BlackRock’s IBIT has been the biggest beneficiary, absorbing the majority of those flows during that stretch.
Still, researchers at Glassnode say that though spot ETFs have seen inflows, it hasn’t come with heightened trading volume. “Inflows that repeat on rising volume would show demand broadening beyond a single day,” they wrote in a note Wednesday.
“I think there’s plenty of fuel in the tank for it to fly higher again,” said Daniel Reis-Faria, chief executive officer of ZeroStack.
Od července zasáhly bitcoinový ekosystém útoky hackerů v hodnotě přes 500 mil. USD; zranitelnost Coldcard vedla ke ztrátám přes 110 mil. USD, aniž by existoval mechanismus odškodnění uživatelů.
Representation of Bitcoin is seen with binary code displayed on a laptop screen in this illustration photo taken in Krakow, Poland on August 17, 2021. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
NurPhoto via Getty Images
The Bitcoin ecosystem has absorbed major hacks since July, totaling over $500M to date. Yet the real story lies in distinguishing between preventable hacks and AI-accelerated attacks, and in what the self-custody industry must learn afterward to re-establish itself as the default for storing bitcoin.
The Coldcard Entropy Hack Case Study ($110M)The first major hack with far-reaching consequences for self-custody that kickstarted this was the Coldcard Entropy Hack in July.
During an audit of Coldcard’s firmware by Bitcoin developer James O’Beirne over 17 months ago, he reportedly uncovered that they had relied on an obscure library named libngu to integrate the industry gold standard library libsecp256k1 to generate cryptographically secure random numbers, the critical component needed to ensure wallet seeds are secure, not easily guessable, and user funds protected.
Coinkite, the team behind the Coldcard, cited the aforementioned libngu library in their own technical post-mortem. Specifically, after their migration to libsecp256k1, they relied on libngu to communicate with the library, stating that “The cryptographic choice was sound. The integration was not.” According to the post’s timeline, the vulnerability was introduced in 2021. Meaning it went unnoticed for 5 years until it was exploited in July.
Coinkite eventually shipped an update that fixed the vulnerability with clear steps for users to migrate their bitcoin. Yet users who have collectively lost over $110M, according to Galaxy Research estimates, have no mechanism to be made whole. As of writing, Coinkite has not provided any information about a fund to make customers whole or legal redress.
Asked for comment, Coinkite says it will be publishing a third-party audit which will cover the hack’s timeline, why the bug went undetected, and changes they’ve made to their review process since July. Once public, this piece will be updated and a follow-up published.
CryptoBilis Ledger Reseller Hack ($91M)Beyond code, the supply chain is also an attack vector. The third-party reseller CryptoBilis, which operates in Indonesia, Malaysia, and the Philippines, reported Ledger wallets containing custom implants that copied sensitive wallet material and stole user funds, totaling ~ $91M across 474 addresses, according to Galaxy Research.
Case Studies In AccountabilityLedger followed up by having CryptoBilis halt all sales and shipments, announcing its intention to roll out tamper-resistant enclosures to prevent similar supply-chain attacks, and providing users with guidance on how to handle the situation.
After the CryptoBilis incident, popular hardware wallet manufacturer Trezor announced last week a significant reduction in its reseller network to ensure it can accurately vet vendors and avoid a similar situation.
Even as the Coldcard hack was still actively draining user funds, the broader bitcoin ecosystem spent sleepless nights helping affected users migrate their coins and educating others on more secure alternatives and setups.
Away from hardware wallets, Blink, an open-source custodial bitcoin wallet, responded to a $430k hack by its shareholders, making users whole within days. Another is Boltz, an open-source, non-custodial bitcoin swap bridge, which faced successive, consistent AI-automated attacks on its servers and responded by shutting them down to prevent users from losing funds.
Liquid Network Hack ($320M)The recent $320M hit the ecosystem at a different layer away from exchanges and hardware wallets, and in the realm of side chains. Here, the attacker leveraged a zero-day vulnerability that let them mint—essentially create—unbacked L-BTC (the pegged BTC token on Liquid) and drain 4,000 BTC.
The attacker reached out to Blockstream on-chain by embedding OP_RETURN messages, with most of the exchange happening there for the public to see. The attacker initially posed as a white hat but held the coins for ransom until the bug was fixed. They later returned 3,400 BTC to Liquid and pocketed the remaining ~600 BTC.
Liquid initially froze redemptions for over 40 days as a mitigation, but have announced resumed peg-outs and swaps. As for the 600 bitcoin, it seems Blockstream will likely replenish that.
The Bitcoin Exchanges ConundrumA hallmark of bitcoin security advice has been keeping your coins off exchanges. However, examples like Bitget’s recent $387.5M hack show an important counterweight to self-custody setups. Namely, despite the significant hack, Bitget relied on its User Protection Fund, which stood at $464M at the time of the attack, to cover the full amount lost to affected users.
Ironically, while self-custody is theoretically more secure than exchanges, the last few months have shown it currently offers worse fallbacks for victims, especially in the case of the Coldcard hack. The broader question is why the industry has promised far more secure setups than exchanges, yet hasn’t adopted equivalent measures.
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The Super Intelligence (SI) AccelerantWhile we can’t squarely blame SI-accelerated hacks for the Coldcard situation, notwithstanding their upcoming review, the timeline does raise questions of how much of this was preventable independent of the AI-accelerated attacks that followed.
Regardless, what’s undeniable is the use of SI for defensive measures like frontier-model-led preemptive source-code audits and patches, as spearheaded by the Bitcoin Red Team, has become increasingly invaluable.
In the age of super intelligence, access to insurmountable stockpiles of compute that defend against perilous actors will become cheaper, while devastating attacks proliferate at unprecedented rates. Plus, at the pace of SI-accelerated reverse engineering, all code is functionally open source, further exacerbating the situation.
The Path ForwardTechnology is not the bottleneck; user-friendly multi-sig and single-sig self-custody products exist from companies like Bitkey, Casa, Trezor, and Bitbox.
The real test is whether Bitcoin’s self-custody ecosystem can rise to the level of maturity and accountability infrastructure required to safeguard billions of dollars in bitcoin. The industry must make “not your keys, not your coins” progress beyond a dunk on victims to the default operating principle.
Until then, users will keep their coins on exchanges and in ETFs.
Elon Musk’s proposed merger of SpaceX and Tesla has drawn heightened interest, not just for the integration of aerospace and electric vehicle technology, but for what it means in the world of corporate Bitcoin treasuries. If the two companies were to unite, their cumulative Bitcoin holdings would exceed 30,000 BTC, valued at approximately $2.5 billion based on recent market prices.
Potential merger would create a Bitcoin powerhouseOn SpaceX’s third-quarter earnings call, Musk confirmed that both companies’ boards have established special committees comprised of independent directors to evaluate a potential merger. He stressed that discussions remain preliminary, warning that predicting the deal as a certainty would be premature.
The merger prospect has quickly become a focal point for the cryptocurrency community, given each company’s sizable exposure to Bitcoin. Tesla, a global leader in electric vehicles with Musk as CEO, most recently reported a Bitcoin reserve of 11,509 BTC. SpaceX, the private aerospace manufacturer and satellite communications company led by Musk, revealed its own stash of 18,712 BTC in its S-1 filing prior to its June IPO announcement.
Together, the holdings would position the merged entity among the largest non-mining corporate Bitcoin holders globally. Only a few companies, such as MicroStrategy under Michael Saylor, would outrank Musk’s combined corporate portfolio in terms of Bitcoin reserves.
Mini dictionary: MicroStrategy is a publicly traded business intelligence company led by Michael Saylor, recognized for holding the largest Bitcoin treasury among public companies and for its active Bitcoin investment approach.
Tesla holds 11,509 BTC, and SpaceX owns 18,712 BTC, combining for 30,221 BTC valued near $2.5 billion at the latest Bitcoin price of $83,000. The average cost across both companies is around $35,000 per Bitcoin, indicating a total cost basis of approximately $1 billion.
SpaceX Bitcoin activity draws attentionThe most significant discovery stems from SpaceX’s Bitcoin holdings. The company’s 18,712 Bitcoin were almost entirely obscured from public view until SpaceX’s IPO filing revealed the cache. This sum was more than double the estimate made by blockchain analysis firms, which had attributed far fewer coins to SpaceX’s wallets before the disclosure.
Recently, blockchain analytics firm Arkham Intelligence reported that SpaceX moved more than $133 million in Bitcoin on Friday. The company transferred 1,215 BTC to separate wallet addresses, including a shift of 300 BTC worth $33 million and 915 BTC valued at $100.7 million.
Arkham Intelligence highlighted that these recent transactions differed from earlier movements and indicated active internal treasury operations at SpaceX.
Despite this movement, neither SpaceX nor Tesla has signaled any intentions of increasing or selling their Bitcoin positions. SpaceX last made significant wallet transactions in prior years, while Tesla has reported no changes to its digital asset holdings through its latest quarter.
CompanyBTC HoldingsEstimated Value ($B)Cost Basis ($B)Average Buy PriceTesla11,509~$1.0~$0.4$35,000SpaceX18,712~$1.5~$0.6$35,000Total30,221~$2.5~$1.0$35,000The discussions around a potential merger remain at an early stage, with the outcome still uncertain. For now, the combined crypto treasury is a hypothetical scenario dependent on the success of negotiations and regulatory approval.
Musk has acknowledged the complexities involved, and has indicated no immediate changes to either company’s stance on its Bitcoin assets. Both firms continue holding their positions, and have not announced any upcoming strategic moves regarding their Bitcoin reserves.
Litecoin [LTC] ETFs spent most of the year getting the odd visitor or two. Lately, there’s been many more.
Is this the start of something, or just a good few weeks? Let’s look.
Litecoin ETF assets have doubled to $14 million
For most of the year, Litecoin ETFs were fairly quiet.
SoSoValue data showed a few big days early on, like the roughly $2 million that came in around mid-January. After that, it was mostly scattered. A small inflow here, a small outflow there, with weeks of nothing in between.
Total net assets drifted between about $5 million and $7 million for months.
Then, late September changed things.
Source: SoSoValue
Inflows landed almost every day; the biggest one came close to $1.4 million. That’s the most consistent run these funds have had since they launched.
Total net assets shot up to around $15 million at the peak. While it has fallen since, they’re 2x where they were in the summer.
Notably, after a few flat days, Canary’s Litecoin ETF [LTCC] saw $581,140 in inflows on the 19th.
There could be more company soon. Grayscale has also been pursuing the conversion of its existing Litecoin Trust into an exchange-traded fund, although the process has yet to be completed.
Litecoin price punches up, futures traders lean long
LTC got a nice push on the 20th, going up about 5% in a day. At the time of writing, it was at $61.35.
While a step below the late-September high of $75, it’s still a decent climb from mid-October slip down to $57.
RSI was near neutral, at 47.6 during press time. MACD was negative, though the red bars are evidently shrinking. A crossover isn’t a far off possibility.
Source: TradingView
Futures traders seem to be on board. Open Interest [OI] dropped to about $213 million on the 18th, then went back to $229 million. Funding was also positive at 0.0058%.
Source: Coinalyze
Getting back above $65 would help.
Final Summary
Litecoin ETF assets doubled to about $14 million after a late-September inflow run.
Litecoin price jumped about 5%, futures funding also looks positive.
Binance v rámci kampaně od 23. října 2026 v 00:00 UTC do 20. listopadu 2026 v 00:00 UTC rozdělí 600 000 XRP držitelům alespoň 0,01 RLUSD na účtech Spot, Funding, Earn nebo Margin. V účtech Earn se započítává pouze RLUSD vložené do Flexible Savings.
Binance, the world’s largest cryptocurrency exchange, has made an announcement concerning the Ripple ecosystem. According to the announcement, Binance has launched a new XRP airdrop campaign for holders of Ripple’s dollar-pegged stablecoin, RLUSD.
Binance will distribute a total of 600,000 XRP to eligible users as part of the campaign, and the rewards will be shared among users who meet the specified conditions.
“Binance will be launching an airdrop campaign rewarding all eligible users holding Ripple USD (RLUSD) on our platform. Eligible users will receive a share of the large prize pool of 600,000 XRP.”
When Will Binance’s XRP Airdrop Campaign Begin? According to Binance’s official announcement, the campaign will begin on October 23, 2026 at 00:00 UTC and end on November 20, 2026 at 00:00 UTC. Rewards will be distributed weekly throughout the campaign period.
Binance stated that the first reward distribution is scheduled for October 30th, with subsequent distributions planned for November 6th, 13th, and 20th. XRP rewards will be transferred to eligible users’ Spot accounts within their main Binance accounts.
Who Can Participate in the XRP Airdrop? To be eligible for the campaign, users must hold at least 0.01 RLUSD in their Spot, Funding, Earn, or Margin accounts on Binance. Only RLUSD balances deposited into Flexible Savings products will be considered in Earn accounts.
“To be eligible for rewards, users must hold at least 0.01 RLUSD in their Spot, Funding, Earn, or Margin accounts.”
However, users must complete identity verification and meet the campaign participation requirements. Regional restrictions and active account restrictions may also affect eligibility.
In addition, Binance stated that additional reward multipliers will be applied to users who meet certain conditions. Specifically, users who increase their RLUSD balance compared to the previous two weeks will receive a 1.2x reward multiplier, while those who subscribe to the RLUSD Flexible Savings product will receive a 1.1x multiplier. If both conditions are met, the multiplier for the relevant balance can reach 1.3x.
Binance finally added that rewards will be calculated based on variables such as users’ eligible balances and total participant balances.
*This is not investment advice.
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The Yellow Network blockchain project, in which Ripple co-founder Chris Larsen invested $10 million, has teased a technology for instant settlements between autonomous AI programs.
According to a teaser posted on X, the XRP token will become the basic settlement mechanism for the new "ultimate" AI stack, designed to combine Yellow's high-speed channels with the capabilities of the XRP Ledger (XRPL) network.
Moving value across borders in seconds is old news. XRPL already solved that.
The real challenge now is trust: how do two autonomous AI agents with zero shared history transact safely? They need guaranteed outcomes.
Yellow provides the exact trustless settlement layer to make it happen.
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— Yellow (@Yellow) October 21, 2026
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It is expected that the new software will allow AI agents to trade with each other without fees within the system, and to instantly record the final settlement on the XRP blockchain.
Why do robots need money at all? (And why regular banks don't suit them) Regular bank transfers are too slow for artificial intelligence. When two robots on the network want to make a deal — for example, one AI buys data or computing power from another — they need to complete the payment within fractions of a second. At the same time, they "don't know" each other and cannot take each other's word for it.
Yellow solves this problem. The project acts as a digital guarantor: it verifies and protects the deal on the fly, and then sends it to the XRP Ledger for closing. In the company's teaser, this process was shown simply — two capsules are connected by a glowing bridge of trust.
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AI agents perform millions of micro-operations, so predictability is important to them. The XRPL blockchain may be ideal for this: a transfer there takes only 3–5 seconds, and the fee is a fraction of a cent. Chris Larsen's involvement links this project directly to the future of the Ripple ecosystem.
This infrastructure has already been deployed on the basis of the XRPL AI Hub, where 174 AI services are registered. Autonomous agents have carried out more than 14.5 million microtransactions and closed almost 6,000 deals, paying each other for inference routing, token analysis, and contextual data via the x402 protocol.
XRPL AI Hub metrics showing over 14.5 million settled microtransactions, Source: XRPL AI HubWhile people argue about cryptocurrencies, major capital is building the economy of the future — where robots will buy and sell services to each other without human involvement, using XRP liquidity.
XRP posted a notable rebound of over 4% on October 21, with its price recovering toward $1.35 as a wave of short seller liquidations hit the market ahead of a key network upgrade for the XRP Ledger. Market data recorded XRP’s 24-hour gain at 4.7%, with trading activity heavily concentrated in the $1.29 to $1.35 range.
XRP short liquidations surge near resistance zoneDerivatives analytics revealed that $4.4 million in XRP positions were liquidated within the past day, with approximately $3.6 million attributed to short sellers. TRdesk, a derivatives tracker, reported that around 80% of these liquidations came from short positions. As leveraged shorts are forced to buy back XRP to settle their losses, such events often contribute further upward pressure to the price rally.
XRP’s return to the $1.35 level signals increased volatility, especially as liquidation-driven buying combines with anticipation for the upcoming network upgrade.
Despite this recent bounce, XRP continues to trade below earlier highs from the first half of October. The preceding decline illustrated the severity of the broader market correction even as institutional investors showed ongoing interest in the digital asset.
Technical traders are closely monitoring resistance between $1.35 and $1.38; a clear break above could shift attention toward $1.42. However, if bearish momentum returns and sends XRP below $1.32, the price may target support levels at $1.29 and $1.28.
Price LevelSignificance$1.38Key resistance$1.35Current recovery zone$1.32Support if price pulls back$1.29Lower supportNetwork upgrade prompts market attentionAnticipation for the XRP Ledger’s scheduled upgrade on October 23 has intensified market activity. The planned activation of fixCleanup3_4_0 is a maintenance amendment set to address various technical issues, including corrections related to token permissions, escrow transactions, automated market maker operations, and foundational aspects for future lending infrastructure.
According to previous analyses published by blockchain intelligence firm Coinpaper, the upgrade received sufficient backing among validators to initiate the countdown process ahead of implementation.
The current amendment, however, does not enable native lending capabilities on the XRP Ledger. The lending protocol—featuring Single Asset Vaults—remains under separate consideration and will require more validator approvals before it can be deployed.
The distinction carries weight because a full-scale credit market on the XRP network could expand the range of financial products available, but the activation of the fixCleanup3_4_0 patch is only a preparatory measure toward such developments.
Mini dictionary: fixCleanup3_4_0 is a maintenance amendment for the XRP Ledger designed to resolve technical issues, improve calculations for lending infrastructure, and update network mechanics, but it does not itself implement new lending features.
Institutional activity and market outlookWhile XRP saw a brief surge, broader uncertainty persists regarding both institutional demand and overall cryptocurrency market sentiment. The US spot XRP ETF market previously attracted inflows for 13 straight weeks, underscoring that consistent investment in regulated products does not necessarily insulate the underlying asset from price corrections.
Ripple, the company behind the XRP Ledger, continues to refine its institutional strategy by exploring uses for XRP as collateral. These measures remain separate from speculative trading and are part of Ripple’s larger approach to expanding utility for the digital asset.
For bullish traders, maintaining support above $1.35 remains critical to challenge resistance at $1.38 and potentially reach $1.42. If the recovery stalls, renewed selling could push prices down to $1.32 or even test the $1.29 support.
The upcoming network upgrade could impact sentiment, but XRP’s next sustained trend will depend on a combination of customer demand, market positioning, and institutional participation.
The outcome of the October 23 amendment, along with continuous institutional activity, is likely to guide XRP price action in the short term, but long-term direction remains linked to broader market dynamics.
CVD XRP kleslo z téměř neutrální úrovně na −1,18 miliardy, což ukazuje na přetrvávající převahu prodejů. Analytici se neshodují, zda jde o kapitulaci, nebo pokračující distribuci.
Crypto analyst Xaif, known online as Xaif_Crypto, published an analysis signaling a major shift in the market structure for XRP. His recent investigation revealed a sharp decline in XRP’s cumulative volume delta (CVD), which tracks the net difference between buying and selling volume over time.
Steep CVD decline for XRPAccording to Xaif, XRP’s CVD dropped from nearly neutral to around -1.18 billion. He pointed out that both the green and purple moving averages on his TradingView chart are sloping downward, showing no signs of leveling off. As of the latest reading, the CVD stands at the lowest point on the chart, with the price of XRP at 1.2983.
The CVD’s downward trajectory suggests that selling activity has consistently outpaced buying, indicating pressure from sellers dominating over multiple sessions rather than short-lived surges.
Mini dictionary: Cumulative Volume Delta (CVD): An indicator that measures the net buying and selling volume, helping traders gauge whether buyers or sellers are more active over a specific period.
Xaif’s chart shows a period of stability in CVD until early October, followed by a sudden drop around October 12 to 13. A brief stabilization was seen before another wave brought the CVD even lower from October 17 to 19.
XRP liquidity just got absolutely crushed. The CVD has collapsed from near neutral levels to roughly -1.18 billion, while both moving averages continue trending lower. Is this capitulation, or is there more selling left?
Capitulation or sustained selling?Xaif’s central question focuses on whether the current CVD collapse represents market capitulation or if further selling might be likely. Capitulation typically refers to a situation where persistent and heavy selling marks the end of a downtrend and sometimes signals a reversal. Despite the weakness, the CVD pattern does not yet confirm that a full capitulation event has taken place.
Some analysts interpreting the data remain cautious, viewing the ongoing selling as a sign the bearish trend could extend further. Others believe the current intensity bears hallmarks of exhaustion among sellers, often preceding a shift in momentum.
Community discussions and analysisSeveral market watchers responded to Xaif’s analysis, providing further technical context. One observer described capitulation in precise terms—it usually involves a spike in trading volume, long wicks on the chart, funding rates reaching -0.1%, and CVD flatlining while the price still declines.
By these criteria, he assessed the market as not yet meeting the typical conditions for capitulation. He characterized the current situation as “distribution,” a phase dominated by active selling without divergence or signs of reversal, but suggested a potential bottom could form within a few days.
A different analyst commented that his experience with similar CVD patterns gives him the impression of capitulation. Another voice took a more moderate position, agreeing that the -1.18 billion CVD figure signals significant stress in the market but emphasized that moving averages remain weak and unrecovered, echoing Xaif’s observations.
Market sentiment splitThe data from the past week suggests that XRP continues to face strong selling pressure, with neither price nor CVD reflecting a clear sign of divergence or an imminent turnaround. The analyst community remains divided, with some expecting the period of active distribution to persist, while others think seller exhaustion could emerge soon.
Ripple na makléřské platformě Ripple Prime spustil pro institucionální klienty nepřetržité obchodování s akciemi, přičemž jako zajištění mohou používat stablecoin RLUSD.
Ripple has announced a significant update to its institutional offerings, unveiling 24/7 stock trading for its clients through the Ripple Prime brokerage platform. The new capability allows institutional investors to trade stocks at any time, utilizing the firm’s stablecoin, Ripple USD (RLUSD), as collateral for their trades.
RLUSD gains utility in institutional tradingWith the integration of RLUSD as collateral, Ripple aims to offer institutions more flexibility in managing their trading positions and capital flows. Traditionally, such transactions require coordination during market hours and reliance on conventional banking systems. By enabling round-the-clock trading, Ripple positions RLUSD as a key tool not just for payments and treasury use, but also for financing and trading within institutional markets.
Ripple stated that this move is intended to streamline access to global markets and provide seamless operational continuity for institutional clients. The use of RLUSD as collateral is seen as a step toward broader adoption of the stablecoin, extending its function well beyond its original purpose as a payment asset.
The integration of RLUSD as collateral in Ripple Prime enables institutional clients to manage trading positions and move funds more efficiently without exclusively relying on traditional banking hours, a company spokesperson indicated.
Liquidity concerns and market limitationsDespite these advancements, market observers have pointed out potential challenges related to liquidity. As 24/7 stock trading remains a relatively new feature, liquidity in these markets can be inconsistent, especially during off-peak hours. Some industry participants suggested that institutional traders could struggle to execute large transactions without a sufficient number of active buyers and sellers, resulting in price volatility or higher transaction costs.
For Ripple Prime’s new 24/7 product to fully meet institutional needs, the development of a deeper pool of liquidity will likely be necessary. This echoes concerns expressed by analysts who emphasize the importance of monitoring trading volumes and market activity outside of traditional hours.
Emergence of dynamic trading tools amid rapid market shiftsAs the technical landscape for institutional and retail trading evolves, platforms that combine trading execution and investor engagement are gaining attention. In particular, the meme token market exemplifies how quickly investment interest can build. In this space, an internet trend can quickly turn modest sums into substantial gains within days. Data provided by Fomo App illustrates this phenomenon, with one highlighted trade involving “Niu Lai” turning a $99 initial investment into approximately $370,000. In fast-moving markets like these, observing not just price charts but also investor timing and token selection is essential to navigating opportunities and risks.
Fomo App seeks to address these challenges by integrating token tracking, trading capabilities, social feeds, investor rankings, and trade notifications into a single platform. The application is designed to allow users to follow both asset trends and the activity of prominent investors in real time.
Platforms integrating token discovery, social engagement, and live trading are becoming increasingly important for those looking to participate effectively in the rapidly changing meme token ecosystem, according to Fomo App’s development team.
BitMine vložila do stakingu dalších 159 728 ETH; celkem má ve stakingu 5,23 milionu ETH v hodnotě 12,78 miliardy USD, což představuje 86,5 % jejích etherů.
BitMine, a prominent cryptocurrency investment firm led by Tom Lee, has significantly increased its Ethereum staking activity, pushing its staked ETH portfolio to new highs. This move comes as the company reinforces its commitment to Ethereum amid ongoing market volatility.
BitMine’s major Ethereum commitmentBitMine, recognized as one of the largest Ethereum treasury firms, recently staked an additional 159,728 ETH. The latest transaction, valued at approximately $390.6 million, has boosted the company’s total staked Ethereum holdings to 5.23 million ETH, a position now worth $12.78 billion.
With these actions, BitMine has now staked 86.5% of its total Ethereum holdings as of October 21. The company’s Ethereum holdings account for about 5% of the total ETH in circulation, highlighting BitMine’s influence among large corporate holders in the crypto sector.
Blockchain analytics platform Lookonchain reported the details of this latest staking activity, drawing significant attention from both investors and market watchers.
Mini dictionary: BitMine is a digital asset management firm led by Tom Lee, known for large-scale holdings and active participation in staking within the Ethereum ecosystem.
By aggressively increasing its staked position, BitMine has reinforced its dominance as a corporate Ethereum holder, signaling strong confidence in Ethereum’s long-term prospects.
MetricValueNew ETH staked (recent)159,728 ETHTotal staked ETH5.23 million ETHEstimated value$12.78 billionPercentage of portfolio staked86.5%Share of total ETH supply5%Ethereum price rebounds amid bullish sentimentThe timing of BitMine’s substantial staking move followed several weeks of price swings in the broader cryptocurrency market. Ethereum has recently shown renewed strength, recovering to trade near $2,450, reflecting about a 2.78% increase over the last 24 hours.
The dual effect of BitMine’s expanded stake and Ethereum’s price recovery has bolstered market sentiment, with many observers perceiving increased optimism regarding the asset’s near-term outlook.
BitMine’s expanded Ethereum staking comes amid renewed optimism in the crypto market, with Ethereum’s price approaching $2,450 after rebounding from recent volatility.
Market participants are closely watching whether the firm’s sustained staking activity and Ethereum’s current momentum will support further gains for the world’s second largest cryptocurrency by market capitalization.
365denní ukazatel MVRV Dogecoinu se podle společnosti Santiment pohybuje kolem hodnoty 0,74, což naznačuje, že nedávní držitelé jsou v průměru ve výrazné ztrátě a prodejní tlak může slábnout.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dogecoin (DOGE) price in focus as deep holder losses spark hopes for a near-term recovery. Dogecoin (DOGE) 365-day MVRV is near 0.74 (average loss for recent holders), according to Santiment.
MVRV helps to show if recent buyers are sitting on excessive profits or painful losses. High MVRV can be a warning that profit-taking risk is building up, while low MVRV can signal areas where selling pressure is closer to exhaustion. Traders can use those extremes to judge risk and crowd positioning rather than relying on price alone.
🚨 XRP And DOGE Flashing Strong MVRV Opportunity Signals 🐕 $DOGE is standing out among top caps, with its 365-day MVRV near 0.74, meaning recent holders are deeply underwater on average. $XRP sits around 0.92, also placing traders in net losses and creating a historically more favorable, lower-risk opportunity zone than when holders are sitting on large profits. ⚖️ $BTC, $ETH and $LINK look much more neutral. Their 365-day MVRVs cluster around 0.97 to 1.04, suggesting average traders are near breakeven with little evidence of either extreme profit-taking risk or unusually deep capitulation. 🧭 MVRV helps show whether recent buyers are sitting on excessive profits or painful losses. High MVRV can warn that profit-taking risk is building, while low MVRV can identify areas where selling pressure may be closer to exhaustion. Traders can use those extremes to judge risk and crowd positioning rather than relying on price alone. 🔗 Our Live MVRV Comparison Chart: https://t.co/XNOJTzhB9K
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— Santiment Intelligence (@SantimentData) October 20, 2026 This MVRV opportunity arises as Dogecoin rebounds alongside the broader crypto markets as investors await fresh data for insights ahead of next week's Federal Reserve interest rate decision.
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At the time of writing, Dogecoin was up 3.38% in the last 24 hours to $0.0819 after reaching an intraday high of $0.082 following yesterday's sharp surge.
In the short term, traders will be looking for evidence that DOGE can establish support and build on the current recovery. In this scenario, a run-up to $0.10 is ultimately expected, achieving a double-digit cent price but bulls will have to surmount key resistance levels at $0.087 and $0.088 at the daily MA 200 and 50, respectively.
Dogecoin Labs launchesDogecoin Labs is being formed by the teams behind the Dogecoin wallet, an application network, and merchant payment tools, with the goal of providing DOGE holders with more locations to spend and utilize their coins.
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Dogecoin Labs, which was formed in partnership with the Dogecoin Foundation, announced in a recent release that it will own and operate MyDoge, DogeOS and Such App.
The company will concentrate on broadening the utility of Dogecoin through consumer applications, payments, commerce, DeFi, gaming and other goods, while the Foundation will continue to be responsible for ecosystem stewardship and open-source development.
The announcement comes at a time when Dogecoin's foray into traditional finance has failed to spark enduring investor interest, with Bitwise about to shut down its Dogecoin ETF.
Dogecoin Labs vzniká ve spolupráci s Dogecoin Foundation a sjednotí své produkty MyDoge, DogeOS a Such App, aby rozšířila využití DOGE v platbách a aplikacích.
In brief
Dogecoin Labs launched together with the Dogecoin Foundation, consolidating the meme coin’s scattered products, IP, and development teams.
Led by CEO Jordan Jefferson, it aims to close the gap between Dogecoin’s massive community and its thin lineup of real apps.
It builds on recent groundwork: DogeOS’s Sept. 30 testnet and MyDoge’s 500,000-plus users.
Dogecoin is getting a dedicated company to build out its ecosystem, as the teams behind the meme coin’s biggest consumer products fold into a single organization aimed at giving DOGE more everyday uses.
Announced Tuesday, Dogecoin Labs was formed together with the Dogecoin Foundation to consolidate the products, intellectual property, and development teams scattered across the Dogecoin world into one independent outfit.
Myriad: Where does Solana go next? Click to make your prediction.It will own and operate three flagship products: the MyDoge wallet, the DogeOS app platform, and Such App, a merchant-payments tool, with assets and talent contributed by both the Foundation and House of Doge.
The pitch is to close a gap the company sees as Dogecoin’s defining weakness. Despite ranking among the largest and most recognizable cryptocurrencies, with deep liquidity, millions of holders and one of crypto’s most active communities, the number of actual products and businesses built on DOGE remains small relative to that audience. Dogecoin Labs, led by CEO Jordan Jefferson, the founder of MyDoge and DogeOS, intends to change that by building wallets, payments, commerce, trading, DeFi, gaming, AI and social apps.
“No other digital asset has Dogecoin’s combination of liquidity, community and cultural reach, and its potential has barely been tapped,” Jefferson said, adding that the community has chanted “DOGE to $1” for years and that the goal now is “to build the economy that ambition calls for.”
The move builds on recent groundwork. DogeOS opened its public testnet on Sept. 30, giving developers an Ethereum-compatible environment to build Dogecoin apps, while MyDoge, which grew past 500,000 users without paid acquisition, rolled out a V3 update connecting the wallet to those applications. Together with Such App’s merchant rails, the three products are meant to link developers, consumers and businesses into a functioning DOGE economy.
The Foundation will continue its stewardship, open-source support and advocacy while Labs handles commercial product development.
The reorganization arrives during a soft stretch for the token. DOGE traded around $0.084 on Tuesday, up 3.9% on the day for a roughly $13 billion market cap, but down about 14% over the past month and off roughly 88% from its May 2021 record.
Dogecoin’s institutional story has been mixed, too: a Dogecoin Foundation-backed 21Shares DOGE ETF launched on Nasdaq this year, though Bitwise later shut its own Dogecoin fund citing low demand and a need to “optimize its product range to meet evolving investor needs.”
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Indikátor SuperTrend pro Cardano přešel do medvědího režimu; denní uzavření pod úrovní podpory 0,21 USD by podle Aliho Martineze mohlo ADA poslat k 0,17 USD.
Cardano is flashing a bearish signal that could precede another significant price decline, according to Ali Martinez, a popular market commentator.
Taking to X, Martinez highlighted a bearish shift in an important Cardano indicator, warning of potential downside risks. However, large ADA holders have yet to demonstrate a clear selling bias, making the $0.21 support level a critical area to watch.
Cardano Whales Show No Clear Selling Bias
Martinez explained that changes in the holdings of ADA whales, from 100 million to 1 billion tokens, have historically coincided with significant price movements. However, these large investors have held stable positions since October 10.
During this period, their combined holdings fluctuated between 2.72 billion and 2.76 billion ADA. This limited movement suggests that major holders have yet to establish their next line of movement.
Consequently, Martinez is monitoring these wallets for signs of distribution, which could indicate that large investors are beginning to reduce their exposure to ADA. A sustained decline in their holdings could reinforce concerns about mounting selling pressure.
Cardano Whale Holdings
SuperTrend Indicator Flashes Bearish Warning
While Cardano whale activity remains stable, its SuperTrend indicator has turned bearish, raising concerns about ADA’s near-term outlook.
Martinez identified May 22 as the last time the indicator flashed a similar signal. At the time, ADA traded around $0.25 before plunging to around $0.135, marking a decline of about 46%. Rumors that Cardano founder Charles Hoskinson was leaving the ecosystem further intensified the downturn.
Although this previous correction highlights the potential severity of a bearish reversal, Martinez stressed that it does not guarantee that ADA will repeat the same price action.
Martinez SuperTrend Indicator
ADA Risks Falling to $0.17 if $0.21 Support Breaks
According to Martinez, $0.21 marks the lower boundary of Cardano’s rising price channel and represents a critical support level that could determine its next major move.
A daily close below this threshold would signal a breakdown of the channel, potentially exposing ADA to a decline toward $0.17. From $0.21, such a move would represent a drop of 19%.
Martinez ADA Daily Chart
Crypto Tony Also Warns of ADA Downside
Meanwhile, Martinez is not the only analyst expressing concerns about Cardano’s price outlook. Widely followed crypto analyst Crypto Tony recently warned that ADA could fall to $0.19 after failing to overcome resistance around $0.23.
His projection suggests that ADA could face further losses if sellers maintain control around this resistance zone. Consequently, the token’s ability to reclaim $0.23 could prove important in determining whether it can regain upward momentum or face another downturn.
Nevertheless, ADA has continued to trade above the crucial $0.21 support level while attempting to break through the $0.23 resistance zone.
At press time, ADA traded at $0.2243, representing a 3.79% gain over the previous 24 hours. Despite this short-term recovery, the token remained down 4.44% over the past week and 3.7% over the past month.
Na blockchainu Cardano získalo digitální identitu 100 000 indických zemědělských pozemků s ověřenými satelitními a údaji o pěstování, což má zemědělcům usnadnit přístup k úvěrům a pojištění.
One hundred thousand farm lands in India now have a digital identity on the Cardano blockchain. The Cardano Foundation flagged the milestone, which was reached as of October 21, 2026.
The goal is to make farm data easier to verify and easier to reuse. For smallholder farmers who have long been locked out of formal credit and insurance, that could matter far more than any token chart.
What actually got registered
The project assigns each farm parcel a tamper-resistant identity built on satellite-verified data and decentralized identifiers. Attached to each parcel are sustainability histories and crop data. The intended audience is lenders, insurers and traders, the people who decide whether a farmer gets a loan, a policy or a buyer.
The effort is a collaboration between the Syngenta Foundation India and the Agri-Entrepreneur Growth Foundation. A group of technical partners supports the work, including AIQUANT, Anastasia Labs and Andamio.
On-the-ground activity has centered on several districts in Maharashtra, including Achalpur and Anjangaon Surji.
From pilot to 100,000 in a few months
The growth curve is the most striking part of the story. Initial pilot registrations in April and May 2026 landed somewhere between approximately 7,965 and 10,500 farms.
By June 2026, the count had passed 15,000 farms. During parts of the expansion phase, daily registrations hit 500 farms.
The infrastructure is designed to scale to one million farmer registrations, which would put today’s figure at about a tenth of the target.
The expansion plan also envisions deeper integration with India’s agricultural ecosystem. That includes partnerships with the World Bank and the International Finance Corporation (IFC).
Why fragmented records keep farmers stuck
Smallholder farmers often lack formal documentation, and the records they do have are scattered across different sources. A verified, shareable record of a parcel’s history is meant to change that calculation for lenders and insurers.
A separate initiative is also worth knowing about. IndianChain launched on October 8, 2026, focusing on secure agricultural record-keeping and settlements in Telangana. IndianChain’s target and use case differ from the Maharashtra-focused registration project.
What this means
That said, the coverage of the project points to no direct market price implications. Registering farms is not the same as generating on-chain economic activity, and investors should keep those two things separate.
The real test is downstream. The value of a farm identity depends on whether lenders, insurers and traders actually use it to make decisions.
The involvement of the World Bank and IFC, if those partnerships deepen as envisioned, could be the signal to watch. Development finance institutions have the reach to turn a promising registry into infrastructure that banks rely on.
For now, the numbers to track are clear. Watch how quickly registrations climb toward the one million target, and whether credit and insurance products start appearing on top of the data.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Tether vedl předseedové investiční kolo bolivijského fintechu Peso s cílem rozšířit infrastrukturu pro platby v USD₮ v Bolívii, Brazílii, Kolumbii a Argentině.
Tether Invests in Peso to Expand USD₮ Payment Infrastructure Across Latin America
21 October 2026 – Tether, the largest company in the digital asset industry, led the pre-seed round in Peso, a Bolivian fintech company that provides access to payments, savings, and investments across Latin America. The investment aims to help Peso expand access to fast, low-cost, stablecoin-powered payments in the region while accelerating the use of USD₮ in everyday transactions across retail, institutions, e-commerce, food delivery, ride-hailing, and banking rails.
Peso provides a global USD₮ account that lets users save, spend, invest, and send money across borders from a single app. The company also brings USD₮ payments into the digital services people use every day, starting with Yango, a digital services platform operating in Bolivia, where users can now order food and pay in USD₮ directly in the app. In addition, Peso offers point-of-sale acceptance and virtual accounts in the user’s own name that connect USD₮ directly to the full Bolivian banking system via QR and ACH rails, enabling users to move seamlessly between stablecoins and local fiat.
The investment aligns with Tether’s broader mission to bridge the gap between traditional finance and digital assets by supporting platforms that address real-world financial challenges with stable, liquid, blockchain-powered payment solutions. In doing so, Tether aims to advance the global use of stablecoins and make them more practical and accessible.
The funding will support Peso’s expansion of local on- and off-ramps across its active markets in Bolivia, Brazil, Colombia, and Argentina, deepening USD₮’s role as the settlement layer connecting local currencies. It will also accelerate Peso’s broader product roadmap, including its merchant-facing point-of-sale network and virtual account infrastructure, delivering more transparent and accessible financial services to users and merchants across the region.
“Peso is building the kind of everyday-spend infrastructure that turns USD₮ from a savings tool into a payments channel people rely on daily. This aligns with our goal to promote financial inclusion and ensure access to faster, easier, and more interoperable financial services,” said Paolo Ardoino, CEO of Tether. “By supporting Peso’s growth across the region, we aim to create a new standard for stablecoin-powered solutions.”
“Latin Americans are already using USD₮; what was missing was the infrastructure to spend it in everyday life without friction. This investment lets us accelerate what we have been building: making it possible for anyone in the region to open an account in minutes and use USD₮ daily, from paying by QR code to sending money across borders. That a company like Tether chose a Bolivian startup for this investment is a recognition of the talent and execution capacity that exists here, and we are proud to have them as collaborators at this stage,” said Alejandro Terán, CEO and Co-Founder of Peso.
OCC dokončil prováděcí pravidla k zákonu GENIUS Act pro emitenty platebních stablecoinů, která vstoupí v účinnost 18. ledna 2027. Otázku výnosů a odměn ponechal k posouzení v jednotlivých případech.
On January 18, 2027, every firm that wants to put a dollar-pegged stablecoin in front of American users will answer to a single federal rulebook for the first time. The Office of the Comptroller of the Currency published that rulebook on Tuesday, October 21, 2026, in a final rule that locks in reserve, redemption, capital, and risk-management standards for payment stablecoin issuers — while the industry’s loudest fight, over whether issuers may keep paying yield or rewards, stays a case-by-case question the agency declined to settle in one stroke.
The final rule and its three companion bulletins take effect the same day as the GENIUS Act itself, January 18, 2027. The stakes are written in the market’s own numbers: Tether’s USDT carried a $182.8 billion market capitalization on October 21, and Circle’s USDC another $72.1 billion, according to CoinGecko data — more than $254 billion in dollar substitutes that, from that date forward, must sit inside the framework the OCC just finished. Put against a total cryptocurrency market value of roughly $2.88 trillion, the two largest dollar stablecoins alone are about 8.9 percent of the entire asset class.
Secretary of the Treasury Scott Bessent framed the moment in historic terms. “The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age,” Bessent said in the agency’s release.
Eighteen Months From Bill to Binding Rule The rule did not arrive quickly. The GENIUS Act was enacted on July 18, 2025, and its implementing framework has been under construction ever since. The OCC published its notice of proposed rulemaking on March 2, 2026, closed the formal comment window on May 1, and kept accepting late comments through July 1. By the time the final rule landed, roughly 328 comments had stacked up from crypto firms, trade groups, banks, academics, and individuals — a signal of how much the industry had riding on the details.
The gap between enactment and effective date spans 18 months, but the sharper arithmetic sits in the tail. The OCC finalized its rule 233 days after proposing it, and issuers now have exactly 89 days from publication to bring operations into line before the framework becomes binding. That compressed runway is the piece that will occupy compliance teams between now and January.
For readers new to the statute, what the GENIUS Act actually requires is a three-category licensing system: bank subsidiaries, federally qualified nonbank issuers, and state-qualified issuers under a $10 billion ceiling. The OCC’s part of that architecture is now finished, apart from the anti-money-laundering chapter still sitting in a separate rulemaking.
The provision that drew the most heat never left the statute: a payment stablecoin issuer may not pay “interest or yield to a payment stablecoin holder solely in connection with the holding, use, or retention of such payment stablecoin.” The proposal tried to police evasion with a rebuttable presumption that certain affiliate and third-party payments violated the ban. Commenters tore at it from both directions.
Some wanted the presumption broadened, or argued that a presumption was inadequate and that certain indirect payments should be conclusively banned. Others pushed to narrow or delete it entirely, warning that a presumption this wide could sweep in ordinary payments to related third parties that had nothing to do with rewarding holders for simply sitting on a token. This is not a theoretical squabble — it is the difference between Coinbase, PayPal, or Kraken being able to keep marketing a rewards rate on a stablecoin balance and having to redesign the product outright.
The OCC’s release does not hand down a blanket answer on existing rewards programs. The rule keeps the statutory ban intact and leaves the application of it to be assessed on the facts of each arrangement, with the agency free to update the regulations as issuer business models evolve. For the firms that spent the past two years building rewards features around stablecoin holdings, that is the closest thing to a live question this “final” rule could have produced.
Reserves, Redemption, and the Run the OCC Was Warned About Away from the yield fight, the final rule’s edits read as a deliberate loosening. The OCC made reserve asset management more flexible than proposed while keeping core liquidity, diversification, and concentration requirements so issuers “remain sufficiently reserved and capable of meeting redemption requests in a timely manner.” Capital and operational backstop requirements are more detailed than the proposal but simplified, and risk-management standards under new §15.13 scale with the nature, scope, and risk of an issuer’s activities rather than applying one block to everyone. The final rule also accommodates special purpose vehicle issuers structured to protect the rights of payment stablecoin holders.
Comptroller of the Currency Jonathan V. Gould put the emphasis on the practical floor the rule builds. “We are providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management,” Gould said.
But the comment record carried a warning the agency itself summarized: several commenters argued against any freeze or extension of redemption during a spike in withdrawal requests, on the ground that such provisions could accelerate a run. That is the paradox at the center of stablecoin regulation — the tools meant to slow a panic can themselves be read as a signal that redemptions might not be honored. The final rule’s treatment of redemption timing, down to a definition of “business day” that excludes weekends and federal holidays, shows the OCC working through exactly that tension.
What Still Has No Final Answer For a document titled “final,” the OCC left a striking amount of runway. The Bank Secrecy Act, anti-money-laundering, and sanctions chapters are being written in a separate rulemaking, and the agency will announce separately when it begins accepting applications and waiver requests from prospective issuers. The final rule also narrows the definition of “customer” to direct counterparties of the issuer, so a holder who bought a stablecoin through a third-party distributor is not a customer of the issuer until they redeem directly — a change that quietly redraws who is owed what protections.
The honest read is that January 18, 2027 is the beginning of compliance, not the end of the argument. The Treasury’s own comment window on its parallel Section 3 proposal closed on October 19 with the industry still litigating the same questions the OCC just heard. What to watch is concrete: the separate BSA/AML final rule, the OCC’s application-processing announcement, and the first public moves by Tether, Circle, and the exchanges to explain whether their existing yield and rewards features survive contact with the new text.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
SIG Network plánuje letos prostřednictvím Nightmode integrovat do TRON funkce ochrany soukromí Midnight, včetně soukromých plateb a nástrojů pro dodržování předpisů.
Cardano founder Charles Hoskinson has welcomed TRON to Midnight, a privacy-focused blockchain network designed to bring confidential transactions to existing blockchain ecosystems.
Hoskinson made the remark in response to a commentary from SIG Network CEO David Millar-Durrant, who announced plans to extend Midnight’s privacy technology to TRON and its payment users in December 2026.
Midnight to Bring Privacy and Compliance to TRON Payments Millar-Durrant explained that SIG Network is working with Midnight to develop Nightmode, a solution that allows applications to integrate Midnight’s privacy features without leaving their existing blockchain networks.
The planned integration, which already supports Ethereum, will be targeting TRON later this year. Notably, Millar-Durrant described TRON as a leading blockchain for payments. He highlighted its use for business payrolls and everyday transactions, including payments to cab drivers and service providers.
How Midnight Could Improve Privacy on TRON Through Nightmode, SIG Network aims to bring Midnight’s privacy features to TRON while allowing users to continue accessing supported blockchain assets and applications.
According to Millar-Durrant, the system will support private payments, protect wallet balances and transaction details, and allow applications to determine what information users must disclose. It will also accommodate industry-standard screening tools used by centralized exchanges to support compliance requirements.
Additionally, applications will be able to segregate assets, control access, and integrate privacy features without abandoning their existing blockchain infrastructure.
Millar-Durrant emphasized that the proposed solution will combine privacy with compliance. This approach could allow users to protect sensitive financial information while meeting application-specific disclosure and screening requirements.
Hoskinson Welcomes TRON Founder Justin Sun The announcement has generated excitement across the Cardano community, with Hoskinson welcoming TRON to Midnight and tagging TRON founder Justin Sun.
The two blockchain founders have maintained a friendly relationship over the years. In August, Hoskinson praised Sun’s ambition and drive, noting that Sun had treated him well and remained committed to moving upward.
Útočníci prostřednictvím falešných bezpečnostních upozornění v aplikaci Ngrave LIQUID odcizili zákazníkům kryptoměny v hodnotě 2,56 milionu USD, včetně bitcoinů za 1,77 milionu USD.
Hackers hijacked a third-party notification provider for Ngrave’s LIQUID app and sent fake security alerts on Oct. 17.
About $2.56 million was stolen from 70 wallet addresses across four blockchain networks.
Bitcoin made up $1.77 million of the losses, followed by XRP, Ethereum-based assets and Stellar.
Ngrave says its ZERO hardware wallets were not breached. Victims entered their recovery phrases on a fake website.
The CEO said the company “absolutely and utterly failed” and has added new security controls.
Belgian hardware wallet maker Ngrave says thieves stole about $2.56 million from its customers after hijacking a system used to send app alerts. The company disclosed the attack on Oct. 19.
Attackers gained control of a third-party notification provider used by Ngrave’s LIQUID companion app. On Oct. 17, they used it to send fake security warnings straight to users.
The message said a user’s portfolio had been synced with a Pixel 9 device in Moscow. Tapping the alert opened a fake Ngrave website with a countdown timer and buttons to approve or deny the activity.
Both buttons led to the same trap. Users were asked to enter their 24-word recovery phrase or their Perfect Key, which gave attackers full access to their wallets.
Automated scripts then emptied the accounts within minutes. Ngrave traced the losses to 70 wallet addresses across four networks.
Bitcoin made up most of the stolen funds at $1.77 million. Thieves also took $454,000 in XRP, $316,000 in Ethereum-based assets and $18,000 in Stellar.
How the Attack Unfolded
Ngrave’s incident report says unauthorized access may have started on Oct. 11, six days before the fake alerts went out. Attackers got one access key and used it to obtain a second key with wider permissions, including access to some analytics data.
The company spotted the fake alerts within a minute of their appearance at 9:30 p.m. UTC on Oct. 17. Even so, the first wallet was drained six minutes later.
Ngrave shut off its notification system by 10:45 p.m. Thefts from wallets that were already compromised continued until 3:51 a.m. the next morning.
The company says its ZERO hardware wallets and private keys were never breached. Instead, attackers tricked customers into handing over their own recovery details.
The stolen funds moved through exchanges, blockchain bridges and new addresses. Ngrave traced bitcoin into 12 addresses, while XRP moved through 54 transfers.
Analytics firm Bitquery said in its own report that “most of it now sits on Hyperliquid as a Monero token.” It estimated about 81% of the funds ended up on the decentralized perpetuals exchange.
Ngrave CEO Admits Failure
Ngrave’s CEO gave a direct statement in the incident report. “In my humble opinion, the first duty of a crypto security company is to provide exactly that: security. In this, we have absolutely and utterly failed,” he said.
He said the company’s security was not strong enough when he took over as leader months earlier. Ngrave also said device information, wallet activity, IP addresses and approximate locations may have been exposed.
The incident adds to a difficult year for hardware wallet makers. Nearly a dozen security incidents in 2026 have involved brands such as Ledger, Trezor, Tangem, Safepal, Bitbox02 and Coldcard, with reported losses topping $180 million across two incidents.
Ngrave has replaced the compromised keys and plans tighter notification controls. These include two-person approvals, restricted domains and an emergency shutdown option.
The company is urging affected customers to set up new wallets and contact support. Its investigation is ongoing.
Lead Bank umožní fintechovým partnerům vyplácet prostředky v místní měně do 44 zemí, přičemž dolary se převádějí na USDC a směnný kurz pro platby v místní měně zveřejní až po vypořádání.
Lead Bank now lets its fintech partners turn dollars into USDC and pay recipients in 44 countries, but the exchange rate on those payouts is posted only after settlement.
Key Takeaways
Partners convert dollars and USDC around the clock
Local-currency payouts reach 44 countries via stablecoins
Bank-account name checks take up to 21 minutes
Returned payouts convert back at a new rate
Lead introduced the on-ramp, off-ramp and cross-border FX payout products in an October 20 blog post, published while the bank presented them at Money20/20.
What Lead launched and who can use it
Lead Bank is a chartered, FDIC-member bank based in Kansas City, Missouri, that sells banking infrastructure to fintech companies through APIs. Those companies, which Lead calls partners, build accounts, cards and payments for their own users on top of Lead’s charter. The new stablecoin products are available to them, not to individuals opening an account directly.
Lead’s payment documentation splits the launch into three flows, each starting or ending in a dollar account at Lead:
Flow
Money goes in as
Money comes out as
On-ramp
Dollars in a Lead account
USDC sent to a wallet
Off-ramp
USDC received on-chain
Dollars in a Lead account
FX payout
Dollars in a Lead account
Local currency in the recipient’s bank account
The FX payout is the cross-border product. Dollars are converted into a stablecoin, moved on-chain, then paid out through the destination country’s domestic payment system, or rail. The recipient never touches USDC.
Lead has not published which 44 countries the payouts reach. Its developer documentation lists five payout currencies: the Mexican peso, Colombian peso, Brazilian real, euro and British pound. Its product page gives Brazil’s PIX and the European Union’s SEPA system as examples of the local rails used. USDC is the only stablecoin at launch, with others planned, and outgoing payments must be at least $3.
One account instead of three providers
Lead argues that fintechs running international payments usually combine a bank, a crypto exchange and a cross-border payments vendor, keep money prefunded with each and reconcile three sets of records. In its setup, converted dollars land in the account the partner already holds and can move on over FedNow, RTP, ACH or wire, or abroad through the FX payout. Partners can still pick a conventional wire for any given payment.
Lead’s own example: a remittance company sending $5 from the US to Mexico. By wire, the fee can exceed the payment itself, and the usual workaround is keeping money parked in accounts abroad. The bank also pitches the service to payroll providers paying staff overseas who want dollars but struggle to open a US account.
The launch comes as community banks warn that stablecoins could pull deposits away from local lenders. Lead is approaching stablecoins from the other side, building products for the moment money converts and leaves the account. It is not new to the sector: Lead is the issuing bank behind the stablecoin-linked Visa cards built with Stripe-owned Bridge.
The exchange rate comes after the money moves
Lead’s validation and best-practice guide states that the FX payout rate is posted after settlement and cannot be retrieved upfront.
A partner sending $500 to a supplier in Brazil therefore cannot get from Lead’s API, before submitting, the number of reais the supplier will receive. How that figure is shown to the sender is left to each partner.
The same gap affects Lead’s $5-to-Mexico example. The announcement sets that transfer against a wire fee but gives no conversion fee or FX spread, so the two can only be compared once payments have settled.
When a payment has to come back
Lead separates payments that never leave from payments that leave and bounce. A rejection stops the payment before it moves. The listed reasons include a recipient name mismatch, a name check that timed out, a closed account and incorrect account details.
A return carries currency risk. Under Lead’s returns terms, the amount returned may differ from the amount sent because of fees and currency conversion. If the dollars were already converted into local currency, they are converted back at the new spot rate, which can leave the sender with more or less than the original payment.
Refunds of incoming stablecoins work differently. Lead cannot block funds sent on-chain to a partner’s deposit address, so every receipt is automatically converted into dollars. To send money back, the partner creates a new outgoing stablecoin payment, which Lead’s system cannot yet link to the original as a refund.
“Seconds” depends on the account check
Lead says the products run 24/7/365 and that, because the local rails are real-time, payouts can land in seconds. Before that happens, each outgoing payment passes Lead’s prohibited-country check, OFAC sanctions screening and a balance check.
On PIX, SPEI and Bre-B, Lead also confirms that the receiving account is active and that the name on it matches the name submitted. That check runs in the background, with a maximum wait set per rail:
Rail
Country
Max name-check wait
PIX
Brazil
3 minutes
SPEI
Mexico
21 minutes
Bre-B
Colombia
21 minutes
If the check doesn’t finish in time, the payment is rejected and has to be resubmitted, which Lead says will usually succeed once verification completes. If the name doesn’t match, Lead won’t reveal the name on file. Recipients with two surnames, common across Latin America, need both entered in the last-name field, or the match can fail.
Lead’s 24/7 claim applies to the stablecoin products. Once off-ramped dollars are in a Lead account, FedNow and RTP move them instantly, while ACH and wires keep their usual operating hours.
Lead has disclosed the currencies but not the country list, its conversion fees or its FX spread. Until those are public, partners can test the speed claim before their first payment, but they can check the price only after the money has arrived.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP.
Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem.
To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem.
His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Rezervy stablecoinů na burze Binance klesly po odlivu 6,3 miliardy USD od dubna na roční minimum 41,6 miliardy USD, což omezuje příliv nového kapitálu pro růst kryptoměn.
Binance’s stablecoin reserves have dropped to $41.6 billion, a one-year low, after $6.3 billion left the exchange since April. The drain is market-wide, and it is starving crypto rallies of fresh buying power.
Prices have not collapsed. Bitcoin (BTC) trades near $83,350, roughly 4% below its September peak. However, the cash needed to push it higher keeps shrinking.
How Far Has Binance’s Cash Pile Fallen?Binance’s ERC-20 stablecoin balance peaked near $51 billion in late November 2025, according to CryptoQuant data shared by analyst Darkfost.
It has since lost roughly $9 billion. As a result, reserves are back at levels last seen in early October 2025.
A spring recovery briefly lifted the balance to about $48 billion in early May. However, that gain has fully reversed, with $6.3 billion exiting since April.
The 90-day change in Binance’s stablecoin market cap has stayed negative since the summer and now reads -4.7%.
That is milder than the February and March slump. Back then, the 90-day change sank below -15% as BTC slid from roughly $95,000 to the mid-$60,000s.
Concentration raises the stakes. Binance still holds more than 70% of all exchange stablecoin reserves.
Stablecoin market cap change in Binance. Source: Darkfost/CryptoQuantIs the Drain Limited to Binance?No. Since April, Coinbase Advanced lost $2.5 billion in stablecoins, OKX $2.4 billion, and Bybit $2.3 billion, per Darkfost.
Together, the four venues have shed roughly $13.5 billion. Because the data tracks ERC-20 tokens only, the full outflow may be larger.
Meanwhile, total supply offers little offset. Tether (USDT) has hovered near $183 billion since April. USD Coin (USDC), in contrast, slipped from $78 billion to $72 billion, per CoinGecko.
This mirrors an earlier exchange stablecoin reserves drop, which pointed to a similar liquidity squeeze.
Why Does Every Bitcoin Rally Run Out of Fuel?The CryptoQuant chart exposes a divergence. BTC climbed more than 30% from its August low to $86,597 on Sept. 22, yet Binance’s stablecoin balance kept falling.
In other words, the Bitcoin price rallied without fresh exchange cash behind it. Such moves may lean on existing holders and leverage, which can leave them fragile.
That fragility now shows. BTC has given back about 4%, while Ethereum (ETH) has dropped roughly 11% from its Sept. 22 high of $2,775.
Trading activity has thinned too. BTC’s average daily trading volume fell 27%, from $38.6 billion in April to $28.2 billion so far in October.
Derivatives traders are not leaning in either. Funding rates are the fees long and short traders swap periodically. On Binance and Bybit BTC perpetuals, they sit at the neutral 0.01% baseline.
What Would Bring Buyers Back to Exchanges?Darkfost offers two explanations. First, exchanges may be trimming stablecoin inventory to match weaker demand, as investors avoid fresh crypto exposure.
Alternatively, some holders may have moved funds to platforms paying yield while they wait for better conditions.
Either reading points to the same outcome. Without new stablecoins on exchanges, buyers lack the dry powder to defend breakouts.
That pressure adds to Bitcoin’s October risk factors, which already weighed on sentiment entering the month.
The signal to watch is a turn in Binance’s 90-day change back above zero. Until then, rallies may keep running on positioning rather than new capital.
More broadly, the drain shows how much crypto price discovery still rests on a few centralized venues. When Binance’s cash pile shrinks, the whole market feels it.
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Zcash během dne vzrostl o 13 % na více než 1 330 USD, což je devítidenní maximum. Dva velcí investoři otevřeli long pozice s desetinásobnou pákou v hodnotě 18,6 milionu USD a 18,9 milionu USD.
"ZEC is gearing up for a $2,000 run," one analyst envisioned.
The cryptocurrency market has staged an evident resurgence over the past 24 hours, with Zcash (ZEC) once again among the top performers.
Many analysts believe this marks the start of a major new rally, while some whales opened long positions worth millions of dollars.
Explosion to $2,000 Comes Next? As of this writing, ZEC is worth just over $1,330 (per CoinGecko), up 13% for the day. By comparison, Bitcoin (BTC) has rebounded by 3%, while Ethereum (ETH) has risen by 4% within the same period. The privacy coin’s market capitalization stands at over $22 billion, solidifying its spot among the 10 biggest cryptocurrencies and widening the gap with Hyperliquid (HYPE), which ranks 11th.
The most likely catalyst for ZEC’s latest price increase is the green wave sweeping the sector, but there may be more to it. The X account BSCN revealed that Zcash plans to triple its block production speed, with developers targeting November 5 for the NU7 upgrade.
“The upgrade would cut block times from 75 seconds to 25 seconds. It would also temporarily remove 60% of transaction fees from circulation. The existing mining reward halving schedule would remain unchanged. The activation height still needs to be incorporated into node software before the upgrade can take effect,” the disclosure reads.
Besides gaining 13% on the day, ZEC has also climbed 22% from its local bottom of around $1,050, registered just a few days ago. On that note, X user Lucky said:
“ZEC is bouncing back beautifully. Tell me you bought the dip.”
Token Talk and Nehal also weighed in. The former argued that, to maintain its bullish structure, the price would need a healthy consolidation period instead of printing another candle straight to the upside. For his part, the latter predicted that ZEC is gearing up for an explosion toward $2,000.
The Whales’ Activity Looknochain revealed that two major investors recently bet heavily on ZEC’s further upside. One opened an $18.6 million long position with 10x leverage, whereas the other entered an $18.9 million long under the same conditions.
You may also like: Zcash (ZEC) Gains 1,000% and Still Has Room to Grow, Grayscale Research Says Cardano’s NIGHT Will Be Bigger Than Zcash: Charles Hoskinson Zcash Tops $1,600 After Europe’s First ZEC ETP Debuts Such a development is generally considered bullish because it shows strong conviction from large investors, which can encourage smaller players to jump on the bandwagon and distribute fresh capital into the ecosystem.
Nonetheless, heavy leverage also raises the risk of a long squeeze, and if ZEC suddenly reverses course, cascading liquidations of overly risky positions could intensify selling pressure and accelerate the decline.
Monero futures are heating up, posing volatility risks. (Jakub Żerdzicki/Unsplash)Summary
Monero futures open interest has surpassed $300 million, nearing January’s record of about $320 million and increasing the risk of a sharp, liquidation-driven price move.Open interest has also climbed to a five-week high of 515,730 XMR as monero’s spot price recently topped $600, suggesting leveraged bets are growing alongside the rally.A similar buildup in January preceded a 66 percent plunge, when monero fell from about $790 to below $300 as long positions were forcibly closed.Leveraged bets are building up in monero (XMR) futures, raising the odds of a sharp, sudden move in the price.
Monero (XMR) is a cryptocurrency built for privacy. Its transactions are hard to trace and at the market cap of $10.9 billion, it is the second-largest privacy coin in the world.
Notional open interest, or the dollar value of the number of active monero futures bets, has risen past $300 million, approaching the January peak of around $320 million, according to data source SoSoValue. Futures are contracts that let traders bet on a coin’s price without owning it. To date, the tally has topped $300 million only a few times, all this year.
“The last Time we reached that amount of Open Interest was in Jan 2026. Monero Crashed 66% in the next 20 days. I Smell a very big Liquidation Event on XMR,” said pseudonymous crypto analyst Doctor Profit, who correctly called BTC’s 2025 top and pivoted to accumulation in July this year.
Open interest is tracked in dollars and in coins. Traders use the two differently. The dollar figure shows the current size of the market’s positions and lets traders compare monero with other cryptocurrencies. Liquidations are also typically reported in dollars, so a larger dollar figure points to a larger potential wave of forced selling. Open interest is also rising in coin terms. At 515.73K XMR, it is at a five-week high and up sharply from 400K XMR a week ago.
Liquidations, or forced closure of positions by exchanges, happen because futures involve leverage, in which a trader puts up a small deposit, called margin, to control a much larger position.
This leverage boosts gains when the market moves as expected, but when it doesn’t, the margin is eaten away. At some point, the exchange steps in and closes the position to prevent the trader’s losses from exceeding the collateral they posted and to protect the exchange from unpaid losses.
Traders betting on a rise, called longs, get liquidated when the price falls. The liquidation, in turn, adds to selling pressure in the market. This is especially true when most traders are long. In such cases, a slight price decline can trigger mass liquidation of longs and a price crash.
That’s what happened in January when open interest hit a record high alongside a price rise, reflecting an overcrowding of longs. The spot price hit a high of around $790 on Jan. 14. By the first week of February, it had crashed to under $300. This was characterized by liquidation of longs worth several million dollars, according to Coinglass.
This time too, the spot price has risen with the open interest. Monero recently topped $600, the highest since January.
Compound [COMP] staged a sharp price recovery, following a daily increase of 22.46% as expanding trading activity triggered renewed market attention to the decentralized lending protocol. The price rally notably marked a bullish turnover for the token after struggling through an extended period of declining prices.
As per CoinMarketCap data, COMP’s 24-hour Spot trading volume increased by 975.2% to $143.8 million, which suggested significant growth in market participation. This sudden growth in activity followed the token’s price recovery from its recent lows, reinforcing its position among the day’s top performing cryptocurrencies.
Besides, the rally extended beyond the spot markets, as the derivatives traders also substantially increased their exposure.
Derivatives activity signals growing speculative interest Compound’s derivatives market registered an even sharper daily increase as its Futures trading volume skyrocketed 1,523.12% to $243.02 million in .
Additionally, Open Interest (OI) also climbed 103.58% to $37.85 million in 24 hours, highlighting significant growth in outstanding futures positions. This simultaneous expansion in both volume and OI suggested fresh leveraged participation instead of a merely increased trading turnover.
The derivatives volume notably exceeded the spot volume, which reflected the considerable role of Futures trading during COMP’s price rally. Here, it is also crucial to note that with leverage expanding sharply, COMP also faced greater exposure to potential liquidations in case of sudden price fluctuations.
Besides that the token’s exchange holdings offered another significant consideration as far as the rally’s sustainability is concerned.
Source: COMP Open Interest on CoinGlass Exchange reserves climb despite COMP’s recovery According to CryptoQuant, COMP‘s USD-denominated exchange reserves surged 21.42% in 24 hours as of writing, reaching roughly $32.8 million. The surge notably accompanied Compound’s rapid price expansion, which further raised the dollar value of exchange-held assets.
The exchange reserve expansion therefore did not necessarily confirm an equivalent surge in the number of COMP tokens on exchanges. However, the elevated reserve valuation still highlighted the significance of monitoring exchange balances as the trading activity intensified.
Specifically, a persistent increase in actual exchange-held token balances could create additional selling pressure in case the token holders decide to distribute. However, for now, the figures alone offered insufficient evidence of increased token deposits or confirmed selling activity.
Source: COMP Exchange Reserve USD on CryptoQuant Can COMP extend its recovery toward $30? Compound’s weekly technical structure highlighted a strong recovery from the $15.69 region, with the bulls reclaiming the significant $21.31 support level. As the breakout unfolded, COMP pushed towards the $25.95 region, bringing the $30 resistance level into the spotlight.
Interestingly, the Directional Movement Index indicator favored the buyers, with the +DI signal reaching 26.30 against the −DI signal at 12.52. Notably, the widening gap between the directional signals validated the bullish picture, as the ADX stood at 21.38.
COMP, however, was yet to overcome the $30 level, which previously acted as a crucial resistance region. Ultimately, COMP’s price recovery retained a bullish picture, technically supported by the improving directional strength.
A confirmed breakout above the $30 weekly resistance would be crucial to reinforce the case for further gains.
Source: COMPUSDT Chart on TradingView Final Summary COMP’s rally attracted heavy futures activity, with Open Interest more than doubling. COMP’s bullish recovery strengthened, but breaking $30 remains crucial for further gains.
Aave may soon let users borrow against a piece of Elon Musk’s rocket company. Aave Labs has put forward a governance proposal to accept tokenized SpaceX Class A common stock, trading as SPCXc, as collateral on the protocol’s Aave V4 Equities Hub.
Risk advisory firm LlamaRisk has recommended a set of guardrails for the listing.
What the proposal actually does The proposal was introduced on October 15, 2026. It targets the Equities Hub, a section of Aave V4 that went live on September 25, 2026.
That hub already supports tokenized shares of the so-called Magnificent Seven, the mega-cap US tech stocks. Those tokens are issued through Coinbase’s B20 standard, which brings traditional equities onchain in a form DeFi protocols can use.
SPCXc would join that lineup with a narrow job description. It would be listed as collateral-only, and the only asset users could borrow against it is USDC.
Pricing would come from Chainlink, which the hub uses for continuous price feeds to track the value of listed assets.
LlamaRisk’s numbers, translated First, the firm suggests a 55% collateral factor. A collateral factor caps how much you can borrow relative to what you deposit. Here, every $100 of SPCXc would support at most $55 of USDC debt.
Second, it recommends a maximum liquidation bonus of 6.5%. When a loan goes underwater, liquidators repay the debt and seize collateral at a discount. That discount is the bonus, and it exists to make sure someone actually shows up to clean up bad positions.
Third, LlamaRisk proposes a collateral risk premium of 1,000 basis points, or 10 percentage points.
Fourth, is the supply cap of 37,000 SPCXc. At prevailing market prices, that works out to approximately $5.8 million.
LlamaRisk also flagged a structural limit on liquidations. Larger liquidations, according to the firm’s assessment, would depend on redemptions or derivatives hedges, meaning onchain liquidity alone may not be deep enough to absorb a big forced sale without help from offchain mechanics.
The unlock looming over everything Timing is the reason these dials are turned so tight. SpaceX is heading into a significant share unlock, with an estimated 1.3 billion shares worth around $194 billion set to become available for sale starting October 22, 2026.
Only around 21% of SpaceX shares were previously eligible to trade, and roughly 84% are expected to unlock by early December 2026.
For Aave, the risk is straightforward. If SPCXc drops sharply while loans are outstanding, liquidators need to sell collateral fast. If there are not enough buyers onchain, the protocol could be left holding debt that its collateral no longer covers.
Why tokenized equities keep showing up in DeFi Aave building a dedicated Equities Hub inside V4 shows the largest lending protocols are treating tokenized equities seriously. Starting with the Magnificent Seven gave the hub liquid, widely held names. Adding SpaceX pushes it toward assets with a very different trading history and a much thinner record of public price discovery.
Coinbase’s B20 standard is the plumbing that makes this possible. It gives protocols like Aave a consistent token format for equities, which matters when you are wiring them into automated lending markets.
What this means for Aave and its users For borrowers, the proposal offers a new kind of utility. Holders of tokenized SpaceX exposure could unlock USDC liquidity without selling. The trade-off is a lower borrowing limit and a meaningful cost layer from the risk premium.
The liquidation caveat deserves the most attention. If larger liquidations genuinely rely on redemptions or derivatives hedges, then the safety of these markets depends partly on systems outside the blockchain. That is a different risk profile from crypto collateral, where liquidators can typically dump assets onchain without asking anyone’s permission.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Polkadot has been discussing JAM as a potential successor to its current Relay Chain. That shift is now leaving the realm of research papers and sweeping technical aspirations. Polkadot developers released a production roadmap in September 2026 that provides a clearer timeline for the launch of JAM and outlines how Relay Chain responsibilities will be reduced and migrated to a JAM-based service for finality.
The point is that, for anyone tracking the Polkadot price, JAM would be more than just a routine network upgrade. The Relay Chain in the current architecture is meant to manage security, consensus, and other aspects of coordination among the various parachains, but JAM promises to change that by creating a more general-purpose distributed computing environment that allows various services to run on the shared infrastructure.
While the project is still in development, the focus is no longer on whether JAM will exist, but on how Polkadot can migrate to JAM safely.
What Is Actually Changing With JAM? Table of Contents
The Join-Accumulate Machine (JAM) is a concept introduced by Polkadot’s founder, Gavin Wood, in 2024. It is an attempt to remove many of the hardcoded limits in the current Relay Chain and introduce a more generalizable design that can handle a wider range of computational services.
Currently, the Relay Chain is the main coordinating layer of Polkadot. Validators ensure network security, parachains are bridged via that shared infrastructure and the Relay Chain takes care of critical consensus and communication.
Many of those structures would be different in the new roadmap. JAM is being built as production-grade infrastructure, with the current Relay Chain slowly being phased out, and its primary function during the transition is to validate parachain execution.
It’s a structural redesign and not an incremental performance upgrade.
Why Is the September Roadmap Important? The next step is important, as developers have begun laying the groundwork for the practical aspects required for production.
PolkaJAM project will be a complete JAM node implementation according to the Gray Paper specification. It’s essential that the software be able to withstand attacks from malicious peers, denial-of-service attacks, network overload, and unscheduled network shutdowns before it can be used to support production workloads.
Also, the developers are creating an in-browser light-node library that would enable applications to access JAM directly, without relying on a separate light-node to check network information. In parallel, a new parachain service is being developed which will eventually also bring parachain finality to JAM.
These are the types of engineering projects that deal with the infrastructure side rather than theoretical ideas.
Why Does Polkadot Want to Replace the Relay Chain? The current Relay Chain is designed around Polkadot’s initial ‘parachain’ design. That facilitated common security and interoperability, but it also introduced opinionated rules on how the computation is organized within the network.
JAM is meant to be more generic. Rather than being about parachains, it could enable various computational services to share Polkadot’s security and processing capabilities. Developers would have the option to deploy services without necessarily needing to ask for governance approval for each new type of execution.
Moreover, the architecture provides a more parallel approach to processing work. JAM aims to shift Polkadot’s focus from being primarily a network of blockchains with a single dominant chain to a distributed computing system, in which network resources can be used for a variety of applications.
How Does This Fit With Polkadot’s Wider Changes? JAM is coming on the heels of a number of adjustments in both the economic and technical models on Polkadot.
This new system, called Agile Coretime, replaces the previous parachain auction system, which required projects to collateralize a significant amount of DOT to obtain a fixed, multi-year slot. The acquisition of network resources is now more flexible, and Polkadot blockspace can now be thought of as a resource like computing power, which can be rented out based on demand.
Also included is a substantial transformation of the economic model for the DOT. Binance Insights noted that Polkadot would switch to a hard cap on its supply in 2026 of 2.1 billion DOTs, with annual issuance slated to drop by roughly 53.6%.
The redesign of the supply was actually one of the biggest tokenomic changes in the history of Polkadot, as the previous model had enabled continuous inflation. JAM is making up a broader effort to rebuild both the technology and economics underpinning DOT.
Does JAM Change What DOT Is Used For? Theoretically, yes, but it’ll be subject to the economic model as the network evolves. There are currently important roles played by DOT in staking and governance, and network resources are tied to Polkadot’s coretime model. The business aspect of the DOT and the demand for shared computing power will become more significant as JAM restructures shared computing resources.
The main issue is whether greater technical flexibility increases demand for the Polkadot infrastructure. Without the applications and developers to take advantage of the resources, the increased power has little economic impact. This makes the JAM transition both an execution and a technical challenge.
Demand is already arriving through other channels: Blockonomi reported in March 2026 that 21Shares had launched TDOT, the first U.S. spot Polkadot ETF, on Nasdaq, giving American investors regulated exposure to DOT while JAM is still being built.
Why Is Migration More Difficult Than Building JAM? Migrating critical components of a production blockchain is much more difficult than building a blockchain from scratch. Parachains, validators, and applications and assets that require ongoing operations in a changing architecture are already a reality on Polkadot.
The shift will therefore occur gradually, in stages set out in the roadmap. However, the Relay Chain is expected to be reduced further before the final transition to the service based on JAM for parachain finality.
The idea behind this is to minimize disruption and give the new infrastructure a chance to be tested in production. Developers will also require tooling, light clients, and migration processes for applications to consider JAM a reliable infrastructure.
Even if the network was technically successful, the migration would still not be a good upgrade if it created a lot of unnecessary disruption.
Is JAM Now Polkadot’s Biggest Test? While changes to Polkadot have occurred in the past, JAM is unique in that it questions one of the core tenets of the network’s underlying technology.
Since the launch of the mainnet in 2020, the Relay Chain has been a core component of Polkadot. JAM suggests that many of these core architectural components can be replaced by a more flexible, programmable and service-oriented approach.
But there’s still quite a bit of engineering work to be done, and the transition may not be on the scheduled timeline. Production software must be hardened, parachains must be given migration paths, and the rest of the network must agree to the changes in the governance process.
It is the amount of preparation that has changed. JAM has evolved from a technical vision in a Gray Paper. It is now surrounded by production nodes, migration infrastructure and a concrete transition plan.
JAM represents the most significant upgrade since launch, marking Polkadot’s transition from a theoretical vision to an active engineering project the network will eventually have to undertake.
Polkadot varuje uživatele rozšíření Fearless Wallet: únik soukromých klíčů vedl k neoprávněným převodům celkem 17 286 DOT z účtů osmi uživatelů. Týká se to verzí 3.0.1, 3.0.3, 3.0.4 a 3.0.5.
Polkadot has a blunt message for anyone who used the Fearless Wallet browser extension since February 2025: assume your accounts are compromised, and move your funds.
The warning came in a security notice published on October 21, 2026. It describes a flaw that quietly shipped users’ private keys to a server controlled by an attacker. The flaw had been live, on and off, for roughly a year and a half.
What went wrong inside the extension
According to Polkadot’s notice, four versions of the Fearless Wallet extension were handing out copies of that master key. The affected releases are 3.0.1, 3.0.3, 3.0.4, and 3.0.5. When a user unlocked the wallet, the extension sent their private key to an attacker-controlled server.
The malicious code entered the project on February 19, 2025. It arrived through a GitHub pull request tied to the TON ecosystem.
The leak did not run continuously. Polkadot said it was active intermittently until at least October 10, 2026. That stretch covers more than 19 months of potential exposure for anyone running the compromised builds.
The damage so far is concrete. Eight users have reported unauthorized transactions linked to the exploit, totaling 17,286 DOT. Because a leaked key can sit unused until an attacker decides to strike, the number of exposed accounts could exceed the number of drained ones.
When Polkadot issued its warning, the Chrome Web Store still listed an affected version of the extension. That listing showed around 6,000 users.
A third-party wallet, not an official one
Polkadot was careful to draw a line in its notice. Fearless Wallet is a third-party product. It has never been an official wallet of the Polkadot network.
The timeline also raises uncomfortable questions. Early complaints describing similar problems after an update were logged as far back as October 2025. The detailed public explanation of the coding flaw did not arrive until the October 2026 announcement. That leaves roughly a year between the first user reports and a full public accounting.
What affected users are being told to do
Polkadot’s guidance is straightforward. Anyone who interacted with the vulnerable extension since February 2025 should treat all associated accounts as compromised.
Users are being told to generate new keypairs in a different wallet and transfer their funds immediately. Polkadot recommended Nova Wallet for that move.
Simply updating Fearless Wallet does not solve the problem. If a key has already leaked, the attacker still holds a working copy. The only real defense is to move assets to a fresh key the attacker has never seen.
Staked or locked funds add a wrinkle. Polkadot noted that recovering them may require additional steps. In certain scenarios, it pointed users toward tools such as PAPI Rescue.
Polkadot also flagged a second-order threat: recovery scams. The foundation cautioned users to watch for opportunists posing as helpers who promise to retrieve lost funds.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Celková uzamčená hodnota (TVL) na platformě PancakeSwap za týden vzrostla téměř o 19 % na 2,4 miliardy USD. Návrh The Flip chce zvýšit podíl poplatků pro poskytovatele likvidity na 88 % a snížit emise CAKE přibližně o 69 %.
Decentralized exchange PancakeSwap’s total value locked (TVL) grew nearly 19% over the past week, adding about $380 million as the protocol moves toward a major overhaul of how it distributes trading fees to liquidity providers.
According to DefiLlama, PancakeSwap’s TVL climbed to $2.4 billion on Wednesday, up from about $2.02 billion on Oct. 14. The increase was concentrated in its V3 liquidity pools, where TVL more than doubled to about $739 million from $336 million over the same period.
The growth coincided with PancakeSwap opening a governance vote on a proposal called “The Flip,” which would increase liquidity providers’ share of swap fees on V3 and Infinity pools to 88%, up from 66%-68% on most pools.
The proposal would also gradually reduce daily CAKE token emissions by approximately 69%, from 22,500 to 7,000 tokens. Voting opened on Wednesday, Oct. 21, and will run until Oct. 24, with implementation expected to begin in November if approved.
PancakeSwap leads BNB Chain trading as tokenized stocks expandPancakeSwap accounted for approximately $4.67 billion in decentralized exchange trading volume on BNB Chain over the past seven days, representing about 71% of the network’s total, according to DeFiLlama. The network also hosts most of PancakeSwap’s liquidity, accounting for roughly $2.33 billion of its $2.40 billion in TVL.
The activity comes amid broader growth across BNB Chain’s DeFi ecosystem. That network’s TVL climbed approximately 8.3% over the past seven days to $5.84 billion, according to DeFiLlama. Decentralized exchange trading volume also surged 40.2% to $6.54 billion over the same period, even as its stablecoin market capitalization declined 0.6% to $13.1 billion.
Beyond crypto, BNB Chain has also seen an expansion in tokenized equities, a market in which PancakeSwap has an established presence. The decentralized exchange began supporting Binance’s bStocks in June, allowing users to trade tokenized US stocks onchain.
On Oct. 15, Binance announced that bStocks surpassed $1 billion in assets under management, approximately four months after launching. The company reported more than $40 billion in cumulative trading volume and said 11.2% of bStocks’ value was deployed in DeFi in early October.
Magazine: Agents can trade 24/7 — but Yat Siu warns you could lose access at any time
Grayscale zavedla pro deset produktů nepeněžní emise podílů, které oprávněným investorům umožňují směnit kryptoměny včetně Bitcoinu a Etherea přímo za podíly ve fondech.
Crypto asset manager Grayscale continues to take innovative steps regarding cryptocurrencies. In its latest announcement, Grayscale stated that it will allow investors to invest in spot cryptocurrencies like Bitcoin directly in exchange for shares in its ETFs and other investment products.
Accordingly, Grayscale has implemented an in-kind subscription model in 10 of its products, allowing investors to exchange eligible digital assets for direct investment product shares. The new model aims to facilitate the integration of crypto assets into traditional portfolio management.
The Need for Cash Conversion is Decreasing!
Grayscale has announced a new investment method for some of its investment products. This system allows investors to directly exchange their crypto assets for shares in Grayscale’s investment products without first having to convert them to cash.
The company stated that this method could reduce operational burdens stemming from custody and security processes, lower transaction costs in crypto markets, and facilitate the inclusion of digital assets in traditional investment portfolios.
10 Cryptocurrencies, Including Bitcoin and Ethereum, on the List!
According to Grayscale, the subscription service includes 10 investment products, including Bitcoin and Ethereum: “Bitcoin, Ethereum, Avalanche, Chainlink, Dogecoin, Hyperliquid, Solana, XRP, Sui, Zcash”
“Grayscale Bitcoin Mini Trust ETF (BTC)
Grayscale Ethereum Staking Mini ETF (ETH)
Grayscale Avalanche Staking ETF (GAVA)
Grayscale Chainlink Trust ETF (GLNK)
Grayscale Dogecoin Trust ETF (GDOG)
Grayscale Hyperliquid Staking ETF (HYPG)
Grayscale Solana Staking ETF (GSOL)
Grayscale Sui Staking ETF (GSUI)
Grayscale XRP Trust ETF (GXRP)
The Zcash ETF (ZCSH)”
Finally, according to Grayscale’s statement, the service is available to eligible investors. Clients wishing to trade on the primary market must work with authorized participants or the institutions that act as intermediaries for these participants.
*This is not investment advice.
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Birdeye spustila institucionální terminál Peak za 799 USD měsíčně; podle jejího výzkumu tvoří boty zhruba dvě třetiny kryptotransakcí a až 80 % objemu na blockchainu Solana.
Birdeye launches Peak, a $799/month institutional crypto terminal offering trading data, liquidity analysis and market intelligence.Bots dominate crypto trading, accounting for roughly two-thirds of trades and up to 80% of Solana volume, according to Birdeye's internal research.Birdeye targets institutional investors as demand for reliable crypto data grows amid industry consolidation and rising AI adoption.Every day, billions of dollars move through crypto markets. Investors watch trading volumes to understand where money is flowing and which assets are attracting attention. But how much of that activity comes from actual people?
According to data from Birdeye, roughly two-thirds of crypto trades are driven by bots. On Solana, automated activity may account for as much as 80% of trading volume. Yet only a tiny fraction of wallets appear to be responsible.
The Singapore-based company unveiled Peak on Wednesday, targeting investment funds, family offices and professional traders. Subscriptions start at $799 a month, with custom packages for larger institutions.
Birdeye already supplies data to major crypto platforms. Its infrastructure tracks more than 400 exchanges across 20 blockchains. Peak brings that information directly to institutional investors.
Introducing Birdeye Peak
The unified digital asset terminal for financial institutions and professionals, built to navigate Internet Capital Markets from a single platform. pic.twitter.com/G6G1rKuvzb
— Birdeye Data (@birdeye_data) October 21, 2026 What Does Birdeye Peak Actually Do? Imagine a fund preparing to buy $10 million worth of Bitcoin. Seeing a large daily trading-volume figure tells it little about where that activity happens or whether a large order could move the price.
Birdeye Peak aims to answer those questions.
Typing TDA BTC brings up Bitcoin’s spot trading volume across individual exchanges, including each venue’s market share. Users can examine liquidity depth, holder concentration, ETF flows, regulatory filings and fundraising history in one workspace.
The terminal also covers token unlock schedules, wallet activity and risk measures. It offers AI-assisted research, watchlists and spreadsheet exports.
For institutions, these details can influence how much they invest, where they execute trades and how they assess risk.
“The token screener, what most people know as Birdeye Terminal, was simply our first major product, and it now serves millions of retail users,” co-founder and CEO Kha Nguyen told BeInCrypto. “When millions of people depend on your numbers, you have to get accuracy and latency right at the same time, every day. That pressure forced us to develop deep expertise in data indexing and analysis.”
Coinbase uses Birdeye Data’s Exit Liquidity API to evaluate onchain pools on Base.
The API estimates how much value can actually leave a pool before significant slippage, not simply how much liquidity the pool reports.
If you’ve used that signal to assess a @base market, you’ve… pic.twitter.com/XRda1JQdH7
— Birdeye Data (@birdeye_data) October 12, 2026 Crypto Trading Is Dominated by Bots, Birdeye’s Data Suggests The company’s research points to something investors rarely see in ordinary trading dashboards.
Birdeye estimates that roughly one-third of trades come from humans and two-thirds from bots. On Solana, as much as 80% of trading volume is identified as automated activity.
Yet just 1% to 3% of wallets behave like bots, according to its September analysis.
“If a trade happened onchain, its volume is real, it moved the market,” Nguyen said. “The more interesting question is how much of that volume comes from humans trading manually versus bots, and the answer is striking. A very small number of bots is responsible for the majority of crypto trading volume,” he said. “That is exactly the kind of signal institutions need to see clearly, and it is what Peak is built to surface.”
The implications extend beyond professional trading desks.
A token recording millions in daily volume might appear to attract enormous investor interest. Some of that activity could instead come from automated market-making, arbitrage or bots repeatedly buying and selling.
This matters when investors use volume to judge market interest or liquidity.
Birdeye identifies bots through rule-based analysis of trading behaviour.
“Generally we’ll categorise them as a bot when they do something a human technically cannot,” Nguyen explained.
That includes several trades per second, complex contract interactions and purchases within seconds of a token listing.
Source: Birdeye internal research. Approximate trade-count shares, not shares of total trading volume. Full methodology is scheduled for December 2026. However, the findings remain preliminary. Birdeye has yet to publish its full methodology, which it plans to release in December alongside a Solana year-end report.
Note: The figures have not been independently verified, and automated trading does not necessarily indicate manipulation.
Crypto’s Data Companies Are Fighting for Wall Street Peak arrives during a major shake-up in crypto analytics.
Kaiko acquired Amberdata in June. Blockworks bought Messari the same month for a reported sum exceeding $10 million, far below Messari’s $300 million valuation in 2022. Allium raised $40 million, while Dune cut 25% of its workforce as it refocused on institutional customers and AI. Reliable data has become increasingly important as AI assistants enter financial research.
When Blockworks opened its datasets to AI tools, co-founder Jason Yanowitz warned that “the agent has no way to check a number, so the data has to be standardized and sourced before it ever gets there.”
Birdeye believes owning its data infrastructure gives it an advantage. Unlike several competitors, the company has taken no outside funding.
“Every financial decision should come from real business demand and what helps the company grow healthily, not from following a trend,” Nguyen said. “Having capital and knowing how to deploy it well are two different things. I want to be sure that if we take on external money, we know exactly what we are doing with it.”
He has left the door open to investment.
“As demand increases, if the timing is right, we would be happy to welcome new investors.”
For investors, Peak’s biggest test will be whether its data helps distinguish genuine market demand from the enormous volume generated by machines.
Disclaimer
BeInCrypto independently reports and controls this Feature. Quoted views belong to their speakers. This content is general and non-personalized; it does not consider your circumstances and is not investment research, financial, investment, legal or tax advice, or an offer, endorsement or recommendation to transact in any crypto-asset, product or service. Verify material information before acting. Crypto-assets are volatile and may result in total loss. BeInCrypto gives no warranty as to completeness, accuracy or timeliness, except where required by law.
Meritz Securities podepsala s Optimism memorandum o spolupráci na emisi, vypořádání a distribuci tokenizovaných finančních aktiv na sítích založených na OP Stacku.
What was announcedMeritz Securities has signed a memorandum of understanding (MoU) with The Optimism Foundation ("Optimism") to cooperate on the tokenized financial asset business.
The two sides will examine structures for the issuance, settlement and distribution of tokenized financial assets using OP Stack-based networks, including OP Mainnet. The subject of this cooperation is a business model that uses the public Layer 2 as the distribution and settlement infrastructure for tokenized financial assets.
“The significance of this agreement is that it examines the role a securities firm can play as tokenized financial assets are distributed and settled on a public Layer 2. We will review ways to cooperate with Optimism, putting investor protection and consistency with the regulatory framework first.”Meritz Securities representativeWhat Meritz is focused onWithin the scope of applicable laws and its securities business license, Meritz Securities will examine ways it could take part in the supply and distribution of tokenized financial products backed by domestic assets. Meritz Securities plans to review the detailed scope of cooperation under the agreement, taking into account the ongoing development of Korea's security token regulatory framework and current market conditions.
“We're excited about the ongoing growth of our work in Korea, and glad to welcome Meritz Securities to the OP Stack as they begin exploring tokenization. What makes it interesting is what happens when issuance and settlement sit on the same open network instead of in separate systems. Meritz is starting with a practical question, which is what role a securities firm plays in that, and we look forward to exploring it with them.”Jing WangCEO and Co-Founder, OP LabsAbout OP MainnetOP Mainnet is built on the OP Stack, the open-source, MIT-licensed technology stewarded by The Optimism Foundation. More than 50 production chains run on the OP Stack, and they averaged more than 900 million transactions a month from January through September 2026.
Meritz Securities is a leading Korean comprehensive financial investment company with standalone shareholders' equity of KRW 8.35 trillion as of June 2026, with strengths in investment banking and expanding wealth management and digital financial services. Meritz Securities is currently exploring a range of digital asset-related business opportunities in preparation for the integration of digital assets into the regulated financial system, including spot ETFs, fractional investment and security tokens, trading platforms, and KRW-denominated stablecoins.
About OptimismThe Optimism Foundation is building toward a world of a million chains, all settling to Ethereum. The OP Stack is the open-source, MIT-licensed foundation that gets us there: the shared infrastructure beneath more than 50 production chains, the home of OP Mainnet, and the technology behind OP Enterprise. Exchanges and institutions are already building on it, from xStocks' tokenized equities on OP Mainnet to Korean securities firms exploring tokenization on the OP Stack, including KB Securities, DB Securities, and Meritz Securities, to the DeFi and consumer applications spanning the broader ecosystem. In the first nine months of 2026 alone, OP Stack chains settled $35 trillion in stablecoin transfer volume. OP Labs is the core service provider for The Optimism Foundation.
Injective has now burned more than 7.2 million INJ, permanently removing those tokens from circulation. The milestone comes through a mix of its monthly Community BuyBack program and an earlier burn auction.
How the Injective buyback machine works Participants commit INJ to a monthly Community BuyBack event. In return, they receive a portion of revenue generated across the Injective ecosystem. Once that revenue is distributed, the committed INJ is burned for good. Each round accepts commitments only within set limits, so participation is capped per event.
The revenue pool itself is funded by a percentage of income from decentralized applications and other activity on the network.
The numbers behind the burn The headline figure is over 7.2 million INJ burned to date. That cumulative total reflects both the current buyback system and a previous burn auction mechanism.
Across its first four rounds, the improved monthly program burned 178,338 INJ and distributed $776,344 in revenue shares to participants.
Average yield in the early rounds of the program reached approximately 23.9%. Historically, the buyback has offered average yields of approximately 20-25% per round.
The program has also added bonuses to encourage participation.
Background: from burn auctions to a monthly buyback Injective’s earlier burn auction served a similar purpose of reducing supply, and it contributed to the cumulative total. The shift to a monthly Community BuyBack turned burning into a recurring event with a revenue-sharing hook.
Issuance of new INJ has been curtailed, and governance changes have been aimed at supporting long-term value retention for holders. The community has continued to back tighter supply parameters.
Injective’s approach of routing nearly all protocol revenue back through the buyback system appears to have helped place it among the higher-revenue Layer-1 networks. Layer-1 refers to base blockchains like Ethereum or Solana, as opposed to networks built on top of them.
What this means for INJ holders and the broader market Every burned token is one that can never be sold, staked or traded again. The buyback model ties burn volume directly to ecosystem revenue, which depends on actual usage.
Participants are committing tokens that get burned, so the yield is essentially compensation for giving up those INJ permanently rather than a passive return on a held position.
Caps on commitments per round limit how much any single participant can deploy, keeping the program from being dominated by a handful of large holders.
Many networks direct revenue to treasuries, validators or development funds, while Injective routes nearly all protocol revenue to buybacks.
The key metrics to track each month are the size of each round’s revenue pool, the number of INJ burned per event, participant yields, and whether the bonuses succeed in sustaining participation.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Wallets linked to the April theft from Solana trading platform Drift Protocol have sent an estimated $109 million in Ether to Tornado Cash over two days, renewing scrutiny of funds still controlled by the attacker.
Summary
Wallets linked to the April Drift exploit reportedly transferred 44,510 ETH, worth $109 million, to Tornado Cash on October 20–21. Wednesday’s activity involved approximately 18,800 ETH worth $46 million, following an estimated $61 million in transfers on Tuesday. Arkham-labeled exploiter wallets reportedly retained 56,569 ETH, valued at $138 million, after the latest deposits. Drift attributed its April attack to a North Korean threat group following an investigation by Mandiant. The exchange opened DFX recovery claims on October 1, initially backed by a pool holding approximately 3.1 million USDT. According to blockchain tracker Onchain Lens, the wallets deposited 44,510 ETH into the mixing service on October 20 and 21, including approximately 18,800 ETH valued at $46 million on Wednesday.
DRIFT EXPLOITER MOVES $109M $ETH TO TORNADO CASH
The Drift Protocol exploiter transferred 44.51K $ETH (~$109.15M) to Tornado Cash over the past two days.
· October 20: 25.71K $ETH (~$63.04M)
· October 21: 18.8K $ETH (~$46.11M)
Addresses:… pic.twitter.com/udDVTmEBje
— Onchain Lens (@OnchainLens) October 21, 2026 The October 21 transfers followed roughly 25,710 ETH sent on Tuesday, when blockchain monitors recorded deposits worth approximately $61 million. Combined, the two batches represent more than one-third of the $295 million lost in Drift’s April 1 exploit, based on their estimated dollar values when transferred.
Attribution of the transactions rests on addresses identified as belonging to the attacker. Tornado Cash accepts cryptocurrency deposits into privacy pools, making it harder to follow funds once they are withdrawn to new addresses. A mixer deposit does not, by itself, establish that the stolen assets have been exchanged for cash or recovered by authorities.
The movement comes after a period of relative inactivity. On October 20, Lookonchain reported approximately 25,700 ETH deposited within two hours, while different monitoring accounts published lower interim totals as the transactions were still taking place.
The latest two-day figure covers the complete period cited by Onchain Lens, not the amount observed by each tracker at the same point in time. The reported 44,510 ETH figure and the quoted $109 million are estimates based on the transfer activity and Ether prices around the deposits.
Exploiter wallets retain $138 million after latest transfers Following Wednesday’s transfers, addresses labeled as the Drift exploiter held approximately 56,569 ETH, valued at $138 million, according to Arkham Intelligence data cited in the October 21 reporting. The figure describes the tracked wallets at that snapshot, not every asset necessarily controlled by the perpetrators.
On Tuesday, the corresponding holdings estimate had been roughly 81,454 ETH, worth $194 million. Those balances changed as funds moved and as Ether’s market price fluctuated.
Past transactions complicate the picture. In August, wallets connected to the same incident had already transferred around $44 million worth of ETH through Tornado Cash, prompting renewed questions about how much could ultimately be frozen or returned to victims.
As crypto.news previously reported, investigators faced difficulties tracking the stolen assets through cryptocurrency mixers.
The April incident was one of the year’s largest decentralized finance thefts. Drift initially faced differing loss estimates because investigators valued affected tokens at different points, while the platform’s later accounting put stolen assets at approximately $295.7 million.
North Korean hackers linked to April Drift exploit Drift said in its June 3 recovery update that cybersecurity firm Mandiant attributed the attack to UNC6862, a North Korean threat group. Mandiant’s assessment cited operational evidence and similarities with other attacks linked to North Korean operators.
The attackers had spent months developing relationships with Drift contributors before acquiring the approvals needed to move assets, according to accounts published after the exploit. Investigators described a compromise of operational access and transaction authorization, not simply an error in a trading smart contract.
Drift subsequently reorganized its recovery effort around a planned return to trading. In its June update, the platform said it had hired former Helium engineering executive Noah Prince to oversee protocol development and engaged former Gauntlet team members to review risk controls and liquidation infrastructure.
That work formed part of preparations for a relaunched trading platform intended to contribute revenue toward user compensation.
Drift opens DFX recovery claims with initial pool of $3.1 million On October 1, Drift opened claims and redemptions for DFX, a Solana token allocated to affected users according to their verified losses. The recovery framework assigns one DFX for each USDT of recognized loss and fixes total supply at 299,500,810.998 tokens.
At launch, the recovery pool contained around 3.1 million USDT. The stated initial redemption rate was approximately 0.0104 USDT per DFX, equivalent to roughly one cent for each dollar of eligible losses. Claiming a token is separate from receiving its full face amount in cash.
Under Drift’s published recovery rules, a holder can redeem DFX for an available share of the pool, sell the token on a secondary market or retain it as additional funding accumulates. Tokens redeemed against the pool are burned, reducing the outstanding supply.
A portion of the relaunched platform’s net protocol revenue is directed to the pool each day. Drift lists contributions of 60% on the first 30,000 USDT of daily net revenue, 70% on the next band through 100,000 USDT and 90% above that threshold.
Drift says any assets recovered through freezes, law enforcement or other recovery measures will be deposited in the pool. Tether has committed up to 127.5 million USDT in support, while other partners have committed up to 20 million USDT; those commitments should not be confused with money already available for immediate redemption.
Eligible users must submit their DFX claims before 00:00 UTC on January 1, 2028. Under the recovery terms, any tokens still unclaimed at that deadline will be permanently burned.
Pendle spustil trh s deJAAA, tokenem poskytujícím expozici vůči fondu JAAA od Janus Henderson zaměřenému na AAA CLO, který umožňuje on-chain obchodovat jistinu a výnos odděleně.
Pendle has opened a market for deJAAA, a token that wraps exposure to Janus Henderson’s AAA-rated collateralized loan obligation strategy. The DeFi yield-trading protocol now lets users carve that exposure into separate principal and yield pieces and trade them on-chain.
What Pendle actually launched
The new market went live on October 21, 2026. It centers on deJAAA, a wrapper for the Janus Henderson Anemoy AAA CLO Fund, better known by its ticker, JAAA.
The market is expected to mature on November 26, 2026.
A CLO is a bundle of corporate loans, sliced into layers that get paid in order of seniority. The AAA layer sits at the front of the line, so it gets paid first and carries the least risk.
JAAA holds that senior slice. deJAAA is a freely transferable wrapper around JAAA shares, built so the asset can move around DeFi while keeping the same underlying economics.
Pendle’s role is to take that wrapper and split it in two. One piece represents the principal. The other represents the yield stream it generates over time.
The numbers behind JAAA
JAAA launched in mid-2025 as a tokenized professional fund domiciled in the British Virgin Islands. It is tokenized by Anemoy Capital SPC (BVI) through Centrifuge.
The fund launched backed by $1 billion in seed capital from the Sky ecosystem.
Its on-chain assets under management currently sit in the range of $580 million to $690 million. Net asset value per token is estimated at approximately $1.05.
Recent floating-rate yields have landed between 3% and 4.5%, based on 7-day APY readings. The fund charges a management fee of 0.50%.
Janus Henderson oversees more than $30 billion in similar AAA CLO strategies and holds total assets under management of around $500 billion.
Where deJAAA fits in DeFi
The Pendle listing is not JAAA’s first appearance in decentralized finance. The fund has already been used on Aave Horizon and Morpho.
On those platforms, governance discussions have centered on how much users should be able to borrow against JAAA. Proposals dated October 15, 2026, suggested raising JAAA’s loan-to-value parameters on Aave Horizon to 87% and 89%.
With deJAAA, holders can trade exposure on secondary markets and use it as collateral, rather than relying only on primary redemptions through the fund itself.
What this means for DeFi and real-world assets
The combination of venues creates layered use cases. A user could hold JAAA exposure, borrow against it on a lending market, and hedge or speculate on its yield through Pendle.
Those risks are real even with a AAA rating. The fund’s yields are floating, so a shift in rates changes what yield buyers actually receive. The wrapper adds another layer of smart contract and structural complexity on top of the underlying fund.
Higher LTV proposals on Aave Horizon cut both ways. More borrowing power makes the asset more useful, but it also leaves less cushion if prices move or redemptions get crowded.
The key things to track over the coming weeks are trading activity in the deJAAA market before its November 26, 2026 maturity, the outcome of the Aave Horizon LTV proposals, and whether JAAA’s on-chain assets climb beyond their current range.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
The privacy startup said its encryption coprocessor is now in production with dual-mode tokens and two launch apps, and that Consensys Diligence audited the system.
Fhenix's encryption coprocessor is now live on Ethereum and Arbitrum mainnet
Posted October 21, 2026 at 9:00 am ET.
On Ethereum, a wallet’s holdings are public by default: anyone with the address can see what it owns, what it trades and when. Fhenix, a startup building privacy tools for Ethereum, said Wednesday that smart contracts on Ethereum and Arbitrum mainnet can now work with balances, positions and trading strategies that remain encrypted onchain, while the contract still enforces its rules.
The company said its CoFHE coprocessor, built on fully homomorphic encryption (FHE), is now in production on both networks. Until the launch, CoFHE ran only on public test networks.
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How It Works FHE is a form of cryptography that lets a computer do math on data without decrypting it first. According to Fhenix, CoFHE handles the heavy encrypted computation off-chain and passes the results back to contracts on the two chains. Developers add it with one Solidity import and encrypted data types that, the company said, behave like normal variables.
The launch also brings Fhenix’s dual-mode token design into production. Tokens issued under Fhenix’s dual-mode standard carry a confidential mode next to their public one, according to the company, and a holder can shift a balance into confidential mode in one transaction and switch it back when needed. Fhenix said those tokens never leave their home chain, are not wrapped or bridged, and keep working with existing wallets, exchanges and DeFi apps.
Fhenix said Consensys Diligence audited the system before launch. Unchained could not find a public copy of the audit report.
First Apps and What Comes Next Two design partners went live on day one, according to Fhenix: Fluton, which the company describes as a confidentiality engine built on encrypted intents, and AlphaEngine, where strategists compete for users’ liquidity with strategies that stay encrypted, so their methods remain private. A December 2025 post on Fhenix’s blog said AlphaEngine’s operators decrypt and match users’ swap intents in a step designed to run inside a trusted execution environment, a secure hardware enclave.
Fhenix said three more apps will launch on CoFHE in the fourth quarter, and that it plans to name two strategic partnerships with institutions in the coming weeks. Founder Guy Zyskind said in the announcement that the team is “working on a confidential stablecoin together with Tandem,” Offchain Labs’ venture arm that invested in Fhenix in 2025. Offchain Labs develops Arbitrum.
Fhenix is not the only team bringing FHE to stablecoins. In late May, a court order led Circle to freeze about $12.6 million held in a confidential USDC contract run by Zama, another FHE developer, locking funds of users unconnected to the case.
Steven Goldfeder, co-founder and CEO of Offchain Labs, said in Fhenix’s announcement that the launch is “the beginning of something big: a programmable economy with programmable privacy, fully composable for the end user.”
Related Listen: ‘Like a Peanut Butter Allergy’: Why Institutions Need Onchain Privacy
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Gate spustil aplikaci Gate Money, která propojuje fiat měny, kryptoměny, platby, výnosy a investice v rámci jediného zůstatku; partnerství s Visa umožní kartu navázanou na kryptoměny.
Gate Money puts fiat accounts, crypto, payments, yield and investing on one balance inside the Gate app, with a Visa card for spending and $8.68 billion in reported reserves.
Money has always lived in separate places. Cash sits in a bank, stocks in a brokerage, crypto on an exchange, and moving value between them means transfers, settlement delays and fees at every step.
Stablecoins are the first asset to blur those lines. As the best version of cash in crypto, they give dollars the speed and portability of onchain assets, and they have grown accordingly: supply stands at just under $300 billion as of October 2026, roughly 50% above where it started 2025, the year the GENIUS Act was passed.
Gate Money is Gate’s attempt to bring the rest of the picture together. Announced at TOKEN2049 on October 7, the Gate Money section, inside the main Gate app, now puts fiat accounts, crypto, payments, yield and investing on one balance. A day later, Gate announced a partnership with Visa for a crypto-linked card.
This primer covers what Gate Money does, along with Gate’s Visa partnership, and what we'd watch as it rolls out.
Why Now: Stablecoins Are Becoming Everyday Money Supply growth has stalled for most of 2026, but usage has not. Onchain stablecoin transfer volume reached $92.7 trillion over the 12 months to September 2026, up ~82% from the prior 12 months. Year-to-date (YTD), 2026 has seen ~$74 trillion in onchain stablecoin transfer volume, already above the $60.6 trillion recorded for all of 2025.
It is worth noting that raw transfer volume can overinflate true “usage” as the metric includes bot activity, contract-to-contract hops and internal transfers. Adjusting for those, a16z’s 2025 report strips those out and has adjusted stablecoin volume at ~$9 trillion over its trailing year.
Policy and payment rails are following the usage, with the GENIUS Act giving US issuers a clear regulatory perimeter, Stripe’s acquisition of stablecoin infrastructure startup Bridge, and over 160 stablecoin-linked Visa card programs now live globally, per Visa.
For many users, holding crypto or stablecoins is only half the job. Spending or cashing out those assets still typically runs through a bank, which means leaving the exchange’s ecosystem.
Trading activity tends to fluctuate with market volatility, while products tied to payments, balances and financial services can create more recurring user activity. As crypto increasingly moves beyond trading, the value of having one account for holding, spending, investing and earning becomes more important. This is the gap Gate Money is built to close.
Gate Money Functionally, Gate Money organizes six jobs around one balance.
Hold - Users can hold multiple fiat currencies and crypto in one consolidated account system, as it supports fiat deposits and withdrawals alongside onchain deposits and transfers. Receive - Eligible users can set up a bank account inside the same app and use the account details to receive and withdraw funds. Pay - Online and in-store purchases can use fiat or crypto, with Apple Pay and Google Pay support, alongside ATM withdrawals and local QR payments in some countries. Convert - In-app swaps between assets. Earn - Eligible USDT balances can earn up to 3.6% with no lock-up, subject to Gate's product terms. Invest - Access to crypto and traditional assets including stocks. Many of these features, including Gate Card, Gate Pay and stock trading, existed before Gate Money.
What the new Gate Money adds is integration, where a user's balance can be received, held, earned on, invested and spent in one account, turning Gate from somewhere users come to trade into an everyday financial platform.
The Visa Partnership In early October, Gate and Visa announced a partnership for a crypto-linked Visa card that can be applied for and managed inside the Gate app. With this, eligible users will be able to pay at any Visa-accepting merchant, and the crypto in their Gate account is converted to fiat automatically at checkout to cover the purchase.
Visa’s main contribution is its global network, as the payments feature is the job that decides whether an account gets used every day or only when someone trades.
Moreover, Visa is itself one of the stablecoin rails described above, so the card sits on infrastructure with the same vision in mind.
Gate’s CEO described the partnership as a step toward crypto becoming part of everyday financial life, while Visa's Asia Pacific head of digital currency pointed to consumer demand for flexible, convenient and widely accepted payment options.
Why The Build Matters Some platforms launching consumer money products opt for a separate app with its own brand. In contrast, Gate Money lives inside the main Gate app.
While the former may present a cleaner approach from a consumer identity perspective, it has to build its user base from scratch. On the other hand, an embedded product starts with the full user base that can switch Gate Money on without having to download anything, while balances also stay within Gate.
There is also a clear connection to the topic discussed in Primer 1, where Gate CrossEx gives professional desks one pool of margin that works across multiple venues so capital stops sitting idle in silos. Gate Money applies the same idea at the other end of the user spectrum.
Between the two, Gate is building account infrastructure for institutions and for everyday users, which is the groundwork for the forthcoming Gate iWeb3 report.
Reserves and Asset Security An account that holds users’ cash, crypto and investments, and pays out from them every day, only works if users trust the assets are there. Gate says it was the first exchange to launch 100% proof of reserves. Their latest report, published on 21st October, puts total reserves at $8.68 billion with an overall reserve ratio of 118%.
Licensing as the Moat For crypto exchanges, trading features can be easily shipped by a product team. But bank accounts and cards cannot as they require licenses and banking partners on a jurisdictional level, which is why Gate Money’s availability is region-dependent and its licensing stack would take a considerable amount of time to replicate.
The pairing that stands out is the MiCA and PSD2 licenses, both held in Malta, as they cover both the crypto side and the payment-account side of what Gate Money does in Europe.
The licenses determine where each feature can go live, while the partnerships, such as the one with Visa, determine how fast.
Conclusion Gate Money changes what a Gate account is for. Before, it was a place users came to trade. Now, it is built to be where they hold, receive, spend, invest and earn, across both crypto and fiat.
As digital assets and payment rails mature, the contest moves up a layer, to the account where people hold and spend their money. Gate Money is Gate's answer, built on an exchange account with 61M+ users, wired into Visa for spending and backed by licenses across several key jurisdictions.
The question for the foreseeable future is how quickly Gate Money’s bank account and card footprint expands, and whether Gate's users start treating it as their de facto money platform.
XRP Ledger zpomalil zpracování transakcí; David Schwartz uvedl, že příčinou může být cílený útok nebo skrytá chyba v kódu. Tým analyzuje uložené záznamy.
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A technical failure on the XRP Ledger (XRPL) network that slowed transaction processing has turned into an open analysis of the protocol's architecture. David Schwartz, former Chief Technology Officer of Ripple and co-creator of the system, publicly named the blockchain's vulnerable points highlighted by the incident.
The problems began after the XRP Ledger Operations team recorded an anomaly: the network's ledgers started closing significantly slower than usual. While engineers searched for the cause of the delays, questions arose in the community about the reliability of the decentralized system. Users were concerned about whether the network could fail due to the overload of several key hubs. Schwartz stepped into the discussion to explain the real limits of XRPL's resilience.
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According to Schwartz's assessment, the XRP Ledger software is protected by a multi-layered security system. Nevertheless, in theory there are only two scenarios capable of completely paralyzing the entire network:
Mass infrastructure failure: a situation in which a huge number of validator servers around the world fail simultaneously. Such an outcome is possible only in the event of a global natural catastrophe, so developers consider it unlikely.
Consensus algorithm failure: an error in the very mechanism for reaching agreement between nodes, or the failure of another basic protocol function at the code level.
The recorded slowdown of rounds is direct evidence that the system's technological safety margins have decreased. Schwartz admitted that this is a marker that the network is either under a targeted attack or a hidden bug has been activated inside the code.
At the same time, the architect refuted rumors about the blockchain's vulnerability to single points of failure. The network is fully decentralized, so shutting down or overloading even a large hub (including his own node) has no effect on XRPL's overall operability and uptime.
How the creator of the network was left without logsThe main practical problem turned out to be the vulnerability of the network monitoring systems during peak loads. When consensus rounds slowed down, validators abruptly switched to maximum load. Schwartz's own node could not withstand the influx of requests, causing local RPC connections to hang in the CLOSE_WAIT state.
Official announcement of the XRP Ledger network slowdown, Source: XRP Ledger Operations / XBecause of this hang, Schwartz's internal monitoring system was unable to record and transmit diagnostic data at the most critical moment. As a result, the engineer had to reboot the server without understanding the exact cause of the failure.
During the discussion, it emerged that the hub of the XRPL co-creator was sending logs to an outdated test host of the XRP Ledger Foundation (XRPLF).
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Currently, the team of engineers and community operators is manually analyzing the surviving logs to isolate and completely eliminate the defect. Schwartz summarized that, despite the temporary reduction in safety margins, the team has no reason to panic. The developers are fully in control of the situation, and the code architecture has a sufficient technological reserve to keep the network operational.
