In brief
Privacy cryptocurrency Zcash has tanked 11% over the past 24 hours.
Luke Nolan, senior researcher at CoinShares, says this drop was likely caused by a build up in leverage after the token's "meteoric rise" in recent months.
Another expert says that growing concerns that AI could break crypto encryption before quantum computers might've prompted losses for Zcash.
Privacy-focused cryptocurrency Zcash has fallen 11% over the past 24 hours to a market capitalization of $18.5 billion, per Decrypt data, making it one of the biggest losers of the day.
One expert says this drop in valuation comes after its price has soared in recent months, which has led to a build up in leverage and amplified losses. Others say that growing concerns that AI can break cryptography faster than quantum computers are causing the privacy token to take bigger losses.
Luke Nolan, senior researcher at CoinShares, highlighted that Zcash's "meteoric rise" means that it is still up 460% from its March lows and that in a "fragile" crypto market the largest gainers tend to take losses too.
"There was a decent build-up of leverage on the way up as this is also a natural consequence of a strong move," Nolan told Decrypt. "More attention brings more perp traders to take on leverage, and when there is a sneeze, the moves get amplified as those leveraged traders are either forced to reduce exposure or get liquidated."
Over the past 24 hours, per CoinGlass data, $17.9 million worth of Zcash long positions were liquidated, a large figure compared to Hyperliquid's $7.3 million over the same period.
The race to quantum-proof ZcashThe price drop comes as other industry-wide concerns start to swirl, some of which could see positive upside for Zcash.
Last week, Ethereum co-founder Vitalik Buterin and Ethereum Foundation researcher Justin Drake warned that the industry needs to plan for "bunker mode" as AI could break crypto encryption before quantum computers do. The conversation was sparked after OpenAI published major progress in math, which presented concerns for the future of encryption.
"The OpenAI math breakthroughs has caused a lot concern in crypto given the conspicuous lack of cryptography proofs," Ryan Zurrer, founder and director of investment firm Dialectic, told Decrypt. "More complex privacy protocols such as Zcash have the most to lose in a zero-day event if core primitives are rendered obsolete against AI-driven cryptography attacks."
Zcash has been aggressive with its quest to quantum-proof the network. Zakura, a Zcash full node developer, recently said that its team expects to be quantum-proofed as well as reasonably AI-proofed by January. Its quantum-resistant roadmap "served as a key catalyst" for its recent rally, Tim Sun, senior researcher at HashKey, told Decrypt. "Although actual implementation is still some distance away, it indeed reflects the market's continuous focus on the privacy sector since the beginning of this year."
Privacy continues to be a major crypto industry talking point. Sun added that as traditional finance continues to merge with the crypto industry, the need for privacy will continue to rise.
"As an increasing volume of traditional financial assets and operations migrate on-chain, privacy protection will no longer be merely an optional add-on," Sun told Decrypt, "but rather a fundamental prerequisite for financial institutions adopting blockchain technology."
Last week, French lawmakers progressed a law proposal that would require citizens to report crypto holdings equal to or above €100,000 ($112,000), or otherwise face a penalty. The proposed law received significant backlash in the wake of a wave of crypto-related "wrench attacks," robberies, and kidnappings across the country. Although the law hasn't passed yet, some have looked to privacy protocols as government oversight looms.
Nolan from CoinShares highlights that investors should zoom out when looking at Zcash's recent performance, pushing back on recent narratives pushing its price down.
"I think the French proposed law had little to do with the move, and in my view, it's simply a larger pullback given the meteoric rise," Nolan told Decrypt. "When you put the drawdown in context on the daily chart, even though it's been 35%+, it looks like a blip in comparison to the upmove."
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
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.
In a recent X post, Zcash cofounder Eli Ben-Sasson doubled down on his bullish outlook for the ZEC token, saying $2,000 was a "no-brainer" while hinting at a longer-term target of $5,000. The Zcash cofounder was weighing in on a likely price prediction for ZEC in 2026.
I already predicted elsewhere that ZEC will reach $5,000.
$2,000 is a no-brainer for me.
This time, placing this prediction on @OffMarketcx (think of it as a privacy VPN for Polymarket).
Not investment advice. DYOR.
— Eli Ben-Sasson | Starknet.io (@EliBenSasson) October 15, 2026
Ben-Sasson shared a screenshot from OffMarket, a privacy service by Starkware that lets users trade on Polymarket without publicly linking their positions to their accounts. The screenshot showed the odds of "what price will Zcash hit in 2026" alongside a bet on the privacy token reaching $2,000 by the end of the year.
HOT Stories
The Zcash co-founder said he had already predicted elsewhere that ZEC would reach $5,000, but he sees the $2,000 level as an easier milestone; hence he placed the prediction on OffMarket, a platform he described as a 'privacy VPN for Polymarket'.
You Might Also Like
Zcash rose to a high of $1,696 on September 26 following months of rallying, before it began to retreat. At the time of writing, Zcash was down 10.23% in the last 24 hours to $1,098 as the broader crypto market saw significant selling pressure after Wednesday's inflation data ignited concerns that the Federal Reserve could raise interest rates this month.
An increase to $2,000 will require Zcash to rise more than 82% from its current price.
Amid the price drop, Zcash fell beneath the critical daily MA 50 support, which buoyed its rally in August 2026. A return above this level might see bulls gain traction once again to retest the $1,300 to $1,400 range before a run-up towards $1,700 and then $2,000.
Zcash RetreatsAccording to Santiment, ZEC rose about 48% from Sep 15 to Sep 26, 2026, and had handed back nearly all of those gains by Oct 14, 2026.
You Might Also Like
Open interest in coins topped at 1.60 million ZEC, and by October 14, 2026, it was 2.5% below its September 15, 2026 level, while social volume peaked at 671 mentions. Santiment noted that October 14's 50 mentions were the quietest day since September 2, 2026. Price kept rising, surpassing $1,650, but with less attention and less leverage.
Zcash's NU7 upgrade gets its mainnet decision on October 20, 2026, but social dominance remains at its lowest level since early September 2026.
Following an aggressive rally that pushed the token to a September high near $1,700 after breaking free from a pennant consolidation, Zcash [ZEC] price action could be on the verge of further declines.
Over the last 24 hours, ZEC has declined by about 13%, and it was testing a key demand zone between $1036 and $1162, at press time.
Notably, ZEC’s Funding Rate and Spot Netflow turned negative alongside increasing long liquidations across the network. Therefore, could ZEC be in for further dips, or will bulls step in at the demand zone?
Source: TradingView Negative flows signal growing ZEC selling pressure ZEC’s weakening on-chain metrics could be the fueling factor of the token’s recent bearish price action.
According to AMBCrypto’s recent analysis, the network has recorded two days of negative inflows, indicating weaker demand relative to selling pressure. Moreover, the implications of the reducing inflow could amplify the token’s current bearish bias.
Source: CoinGlass At the same time, the network average aggregated Funding Rates have flattened at 1.42%, just a fraction above its predicted average funding rate of 0.29%. This suggests that bearish positioning is gaining traction in the derivatives market.
Source: Coinalyze That’s not all; its increasing long liquidations show that leveraged bullish positions are being forced out as price falls. At the time of writing, Zcash long liquidations had crossed the $13 million mark, which is significantly bigger compared to just $1.3 short liquidations.
Source: Coinalyze Together, the signals suggest that buyers have yet to regain control of the short-term trend.
Can the demand zone hold? The current demand zone is the next major test for ZEC bulls. A sustained rebound from this area could help stabilize prices and open the door to a recovery. However, a drop below $1,036 will invalidate the bullish formation and cause ZEC to experience more downward pressure.
Currently, the technicals are suggesting a wait-and-see approach. It all depends on the ability of ZEC to withstand the demand zone.
Final Summary ZEC has declined by about 13% in 24 hours after doubling in value since its late-August pennant breakout, bringing price into the $1,036–$1,162 demand zone. The network’s negative funding rates, weakening spot net flows and rising long liquidations point to mounting selling pressure.
Researchers from Google Cloud AI Research, Google DeepMind, and Carnegie Mellon University have introduced Harmony Harness, a framework for automatically evolving the scaffolding that surrounds large language model agents.
The paper was submitted to arXiv on October 10, 2026, under the identifier 2610.15150.
What Harmony Harness actually does If a large language model is the engine, the harness is everything else that turns it into a working car: the surrounding structure that lets the model actually get things done. Previous harness engineering was largely manual, with 2026 seeing quick adaptation to automated optimization methods.
Harmony Harness pushes that automation in a specific direction. Instead of optimizing one blended score, it frames harness evolution as a multi-objective optimization problem. Security and functionality get treated as distinct targets rather than mashed into a single number.
To manage those competing goals, the framework uses decomposition-based evolutionary search. It maintains what is called a Pareto frontier of candidate solutions, where each solution is the best available option for some particular tradeoff—you cannot improve it on one goal without giving something up on another.
The second key ingredient is what the paper calls factorized evolution operators. These let the framework refine general-purpose mechanisms separately from task-specific adaptations. The pieces can then be combined dynamically at inference time, when the agent is actually running.
The benchmark results On two benchmarks, SecRepoBench and BaxBench, Harmony Harness scored more than 10 percentage points higher than prior strong single-objective baselines. Both benchmarks focus on whether AI agents write code that is secure, not merely code that runs.
Harnesses evolved under the new framework retained their security benefits more effectively on held-out and unseen tasks. Traditional approaches that do not explicitly handle multiple objectives tend to show overfitting and regressions, according to the research.
The research also reports that explicitly handling multiple objectives improves both security and functional performance on out-of-distribution tasks.
Why the timing matters The “agent harness” concept gained traction in industry conversations across 2025 and 2026. Related efforts such as Harness2 and EvoHarness-RL emerged around the same time, pointing to growing research interest in agent scaffolding and security.
What this means For teams building AI agents, if security is folded into a single performance score, the optimizer may trade it away when it is convenient. Keeping security as its own objective appears to make those gains stickier, at least on the benchmarks tested here.
As of October 15, 2026, no commercial product details had been announced, and the work carries no announced integrations. The involvement of both Google Cloud AI Research and Google DeepMind suggests the problem is being taken seriously at multiple levels of the company.
Benchmark gains do not always translate cleanly into deployed systems, and the results here center on secure-code tasks specifically. With Harness2 and EvoHarness-RL appearing alongside Harmony Harness, automated harness evolution looks set to become a crowded research area.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
SWI Group raised roughly $900 million to expand AI infrastructure, including former FTX-backed Genesis Digital Assets facilities. FTX’s recovery trust dropped its $1.15 billion lawsuit against Genesis in June. The collapsed exchange sold its Anthropic stake for around $1.3 billion in 2024; the WSJ estimates that holding could now be worth $75 billion. FTX’s investment legacy is attracting attention again as artificial intelligence gives businesses backed by Sam Bankman-Fried a new commercial future.
Frank Chaparro highlighted the exchange’s return to The Wall Street Journal’s business-section front page, pointing to Genesis Digital Assets’ shift toward AI infrastructure and the extraordinary appreciation of Anthropic.
The developments reveal an uncomfortable divide between investment performance and creditor recoveries.
Businesses associated with the collapsed crypto empire are benefiting from the AI boom, but their rising valuations do not automatically translate into additional money for former FTX customers.
Genesis Digital Assets Gets an AI Makeover Genesis Digital Assets, the Bitcoin miner that received more than $1 billion from FTX affiliate Alameda Research, is finding a second life under SWI Group.
SWI took control of the business this summer and is redirecting its infrastructure toward AI computing, according to The Wall Street Journal. The strategy includes facilities in the United States and Sweden previously associated with the mining operation.
On Oct. 12, SWI announced an €800 million capital increase, approximately $900 million, involving institutional investors. Its announcement said the transaction brought total equity raised since March above €1 billion.
So weird to see FTX back on the front page of the WSJ business section.
SBF’s investments are getting a second life in the AI boom.
TLDR:
– Genesis Digital Assets, a bitcoin miner backed by FTX, is pivoting into AI infrastructure. SWI Group is investing roughly $900M to expand… pic.twitter.com/eCL95RVQXr
— Frank Chaparro (@fintechfrank) October 13, 2026
The proceeds will support a broader expansion of SWI’s data-center and AI computing platform across Europe and the US. Planned spending includes power infrastructure, computing deployments, and projects already in its development pipeline.
That distinction matters: the fundraising supports SWI’s wider infrastructure strategy, rather than representing a payment to FTX creditors or spending exclusively on Genesis.
The company also said the transaction would increase its free float to approximately 20%, broadening its institutional shareholder base as it pursues further investment in AI infrastructure.
FTX Dropped Its $1.15 Billion Recovery Lawsuit Genesis’ new direction follows the dismissal of a major legal dispute over Alameda’s original investment.
The FTX Recovery Trust had sought to recover approximately $1.15 billion, alleging that investments made between August 2021 and April 2022 involved misappropriated funds and inflated share purchases.
LATEST: ⛏️ Genesis Digital, which Alameda Research backed with over $1B before FTX collapsed, is set to pivot from Bitcoin mining to AI computing under SWI Group, WSJ reports. pic.twitter.com/BhsevjsxtY
— CoinMarketCap (@CoinMarketCap) October 13, 2026
The trust voluntarily dismissed all claims with prejudice in June, Bloomberg Law reported. That ended the particular action permanently, although the report said neither side immediately explained why the trust abandoned it.
Law firm Blank Rome separately confirmed that claims against Genesis co-founder Marco Krohn were dismissed with prejudice on June 15. Its account dates the original lawsuit to September 2025.
The dismissal closed an important recovery route for the estate. It should not, however, be treated as a judicial finding resolving the underlying allegations: the trust withdrew the claims before obtaining a judgment on their merits.
Anthropic Highlights the Cost of Selling Early Anthropic offers an even more dramatic example of how the AI boom has transformed the value of Bankman-Fried’s investments.
FTX’s approximately $500 million investment ultimately generated around $1.3 billion through share sales in 2024, producing roughly $800 million above the original purchase price.
One timeline detail needs correcting: Anthropic’s own announcement identifies Bankman-Fried as the lead investor in its $580 million Series B, which was disclosed in April 2022, not 2021.
If Sam Bankman-Fried's FTX didn't liquidate its investments following the collapse, it would still hold:
The Journal estimates that the former holding is now worth approximately $75 billion. That is a hypothetical valuation, subject to ownership and dilution assumptions, rather than proceeds available to the estate.
The comparison illustrates the enormous upside captured after FTX sold. It also separates two outcomes: the estate realized a substantial investment gain, while subsequent owners retained exposure to Anthropic’s expansion.
For creditors, the relevant figure remains the cash recovered through those sales. The much larger valuation belongs to a counterfactual portfolio that FTX no longer owns.
Top Trending Crypto Articles
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
Babylon’s proposal to bring native Bitcoin collateral to Aave V4 has entered a new governance stage, but further votes and security reviews remain before launch.
Bitcoin-focused developer Babylon Labs has submitted a proposal to let users borrow stablecoins on Aave against native Bitcoin (BTC).
Under the hood, users would lock their BTC in vaults on the Bitcoin network and borrow against it on Aave. A non-transferable token on Ethereum would represent the collateral, while the BTC itself would remain on its native blockchain without being bridged or wrapped.
The Wednesday proposal follows an initial submission on May 25 and a preliminary community vote that passed on June 10, according to Babylon Labs.
Under the proposal, Aave DAO would receive the first $500,000 in qualifying annual revenue generated by the integration.
Aave already supports loans against tokenized Bitcoin through tokens such as Wrapped Bitcoin (WBTC) and Coinbase Wrapped Bitcoin (cbBTC). Wrapped tokens rely on custodians to hold the underlying Bitcoin, introducing counterparty risks.
As of Thursday, the proposal remains at the Aave Request for Comment (ARFC) stage, where it faces community feedback and risk analysis.
If community consensus is reached, it can proceed to a three-day offchain Snapshot vote, which requires at least 320,000 AAVE-equivalent votes in favor before advancing to a formal onchain vote, according to Aave’s governance rules.
The onchain vote must meet quorum and approval requirements.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Babylon’s proposal to bring native Bitcoin collateral to Aave V4 has entered a new governance stage, but further votes and security reviews remain before launch.
Bitcoin-focused developer Babylon Labs has submitted a proposal to let users borrow stablecoins on Aave against native Bitcoin (BTC).
Under the hood, users would lock their BTC in vaults on the Bitcoin network and borrow against it on Aave. A non-transferable token on Ethereum would represent the collateral, while the BTC itself would remain on its native blockchain without being bridged or wrapped.
The Wednesday proposal follows an initial submission on May 25 and a preliminary community vote that passed on June 10, according to Babylon Labs.
Under the proposal, Aave DAO would receive the first $500,000 in qualifying annual revenue generated by the integration.
Aave already supports loans against tokenized Bitcoin through tokens such as Wrapped Bitcoin (WBTC) and Coinbase Wrapped Bitcoin (cbBTC). Wrapped tokens rely on custodians to hold the underlying Bitcoin, introducing counterparty risks.
As of Thursday, the proposal remains at the Aave Request for Comment (ARFC) stage, where it faces community feedback and risk analysis.
If community consensus is reached, it can proceed to a three-day offchain Snapshot vote, which requires at least 320,000 AAVE-equivalent votes in favor before advancing to a formal onchain vote, according to Aave’s governance rules.
The onchain vote must meet quorum and approval requirements.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Babylon Labs has submitted a proposal aimed at allowing users to borrow stablecoins on Aave by using native Bitcoin (BTC) as collateral. The initiative seeks to integrate the largest cryptocurrency directly into Aave’s lending platform without relying on wrapped or bridged tokens.
How the Proposal WorksWith this approach, users would lock their BTC in vaults operating on the Bitcoin blockchain. That Bitcoin remains on its native network and is not transferred or tokenized through bridging. Instead, a non-transferable token issued on Ethereum represents the locked Bitcoin on the Aave protocol, providing verifiable proof of collateralization.
This differs from current methods that use wrapped tokens such as Wrapped Bitcoin (WBTC) or Coinbase Wrapped Bitcoin (cbBTC), which require users to trust custodians holding the original BTC. Babylon’s design aims to reduce counterparty risk associated with custodial services.
Babylon Labs initially submitted this proposal on May 25. A preliminary community vote passed on June 10, giving way to the current stage for broader feedback and risk assessment.
Governance and Revenue StructureThe proposal stipulates that Aave DAO would earn the first $500,000 in qualified annual revenue generated by the BTC integration. This revenue structure was introduced to align incentives between all stakeholders.
Currently, the proposal remains at the Aave Request for Comment (ARFC) phase. During this stage, members of the Aave community can evaluate the technical risks and provide input ahead of further governance actions.
If the community supports the plan, it would move to a three-day offchain Snapshot vote. To advance, the proposal needs at least 320,000 AAVE-equivalent votes in favor, according to rules in Aave’s governance documentation. Upon meeting those requirements, a formal onchain vote would be triggered, subject to quorum and approval thresholds.
Aave already provides lending options for Bitcoin using custodial solutions like WBTC and cbBTC, but these introduce counterparty risks since third-party entities must hold the underlying BTC on behalf of users.
DeFi’s Native Bitcoin Ambitions ExpandThe push to allow native Bitcoin as collateral comes as Aave continues to expand into new products and networks. The protocol recently launched its V4 version on Avalanche, aiming to pave the way for tokenized credit markets and further interoperability in decentralized finance.
As DeFi protocols strive to incorporate Bitcoin in more seamless ways, technical factors such as collateral verification, risk management, and the process of monitoring collateralized assets gain increased importance for both users and governance participants.
This heightened attention to market surveillance and investor behavior echoes trends seen in other segments of the digital asset ecosystem, particularly in the fast-moving meme token market. In this landscape, viral internet trends can rapidly convert into millions of dollars of trading volume within mere days. Fomo App data points to a recent trade in which an initial $99 position in the meme token “Niu Lai” swelled to around $370,000, underscoring the scale and volatility in this sector. For market participants, tracking not only price movements but also investor timing and token selection is essential. Fomo App aggregates token discovery, social trading feeds, investor rankings, and real-time trade notifications, offering a consolidated window into both meme token activity and broader market sentiment.
Babylon Labs has submitted a new governance proposal on October 14, 2026, to allow Bitcoin holders to borrow stablecoins through Aave V4 without selling their BTC, moving their coins to another blockchain, or handing them to a custodian.
Summary
Babylon submitted an Aave V4 proposal allowing Bitcoin holders to borrow stablecoins against native BTC.
Users would lock Bitcoin directly on its blockchain without depositing coins with third party custodians.
Aave DAO would receive the first $500,000 in annual qualifying revenue under the proposed agreement.
The integration requires further governance approval, finalized risk settings, and security checks before any launch.
Babylon proposes two dedicated Aave V4 components to manage Bitcoin collateral, borrowing, and liquidation procedures.
Babylon Labs published the proposal on Aave’s governance forum, advancing an integration first discussed in May. The plan would introduce two dedicated components for Bitcoin backed borrowing and loan liquidations. The integration still requires community approval, finalized lending risk settings, and further security checks before launch.
Babylon proposes Bitcoin lending without wrapping BTC
The proposal introduces Babylon’s Trustless Bitcoin Vaults technology to Aave V4, the latest version of the decentralized lending protocol.
Under the proposed system, Bitcoin holders would deposit BTC into special vaults operating directly on the Bitcoin blockchain. Their coins would remain locked on Bitcoin while supporting loans issued through Aave.
Borrowers could then access stablecoins against the value of their deposited Bitcoin, subject to the lending rules and collateral requirements eventually approved by Aave governance.
The process differs from Aave’s existing Bitcoin lending arrangements, which support assets such as Wrapped Bitcoin (WBTC) and Coinbase Wrapped Bitcoin (cbBTC).
Wrapped Bitcoin products are tokens issued on another blockchain to represent BTC held through a separate arrangement. Their ownership and custody structures depend on the product involved.
Babylon proposes avoiding that structure by keeping the original BTC on Bitcoin throughout the loan.
The technology uses Bitcoin’s Taproot system to restrict how deposited coins can move. Transactions involving the vault must satisfy predetermined conditions before the locked BTC can be released.
Babylon’s proposal describes the process as “without transferring custody to any trusted third party.” Although the coins would remain on Bitcoin, Aave needs a way to recognize the collateral within its Ethereum based lending system.
Developers therefore propose a restricted ERC-20 accounting token representing each vault’s BTC value. The token would exist solely inside the integration. Users could not freely transfer, trade, or hold it outside the designated contracts.
Babylon specifies that the accounting token would represent locked BTC on a one to one basis. Its supply would increase when a vault becomes active and decrease when collateral leaves the lending position.
The earlier launch of Babylon’s Bitcoin vault technology introduced the protocol’s approach to using native BTC in decentralized finance without conventional custodial bridges.
Aave V4 would introduce two Bitcoin lending components
Babylon proposes creating two new components within Aave V4, known as Spokes.
The first, called the Babylon Spoke, would allow users to borrow supported assets against native Bitcoin collateral. The second, called the BTC Vault Swap Spoke, would handle a more complicated part of Bitcoin lending: liquidations.
A liquidation occurs when a borrower’s collateral value falls too far relative to the outstanding loan. The lending system can close some or all of the position to protect the funds borrowed from the protocol.
Traditional Aave liquidations generally involve assets already available on the same blockchain. Babylon’s proposed arrangement has an additional requirement because the underlying collateral sits on Bitcoin, while borrowing takes place through Aave.
According to the proposal, redeeming a Bitcoin vault can take several days because transactions must pass through a challenge period.
The BTC Vault Swap Spoke would allow liquidators to receive wrapped Bitcoin promptly while designated participants complete the underlying Bitcoin settlement.
WBTC is the initial wrapped asset proposed for that process.
The documents explain that the liquidation system would process individual Bitcoin vaults. A borrower holding several vaults could specify the order in which they would be used if liquidation became necessary.
Aave DAO would control the lending parameters, including borrowing limits, collateral requirements, interest rate settings and liquidation rules.
Risk service providers would supply the proposed settings for the two components. The governance forum discussion received support from Aave founder Stani Kulechov, who described native Bitcoin as an important potential source of lending collateral.
He welcomed the plan and supported using Aave V4’s dedicated architecture for the integration. The development follows earlier reporting on Babylon’s $15 million investment from a16z, which described the company’s plans to expand from Bitcoin staking into lending services.
Aave DAO could receive the first $500,000 in annual fees
Babylon’s proposal includes a revenue sharing arrangement between Aave DAO and the Babylon Foundation.
Under the proposed terms, Aave DAO would receive all of the first $500,000 in qualifying annual revenue generated by the integration. The qualifying revenue would come from specified protocol fees, including Aave’s liquidity fee on borrowing interest and fees collected through liquidation activities.
The arrangement would not apply to every dollar of interest paid by borrowers. After the first $500,000, revenue would be distributed according to several annual bands.
For qualifying revenue between $500,000 and $2 million, Aave DAO would receive 78%, Babylon would receive 18%, and 4% would go toward token purchases.
Higher revenue bands would provide different distributions. At annual qualifying revenue above $6 million, the proposed allocations would be 61.5% for Aave DAO, 31.5% for Babylon, and 7% for token purchases.
The token purchase allocation would fund open market purchases of AAVE and BABY, with 85% directed toward AAVE and 15% toward BABY. Purchased tokens would be divided equally between Aave DAO and Babylon Foundation.
These figures describe a proposed revenue formula, not projected earnings. Babylon has not guaranteed that the integration would generate enough activity to reach any of the thresholds.
In the governance document, Babylon reported that its existing Bitcoin staking protocol had activated more than 100,000 BTC cumulatively since August 2024.
The company listed approximately 40,772 BTC as currently staked when the proposal was prepared, with an estimated value of $3.37 billion.
Those figures relate to Babylon’s existing staking activities and do not represent Bitcoin already deposited into the proposed Aave lending integration.
The expansion of Babylon’s Bitcoin staking services through Kraken previously introduced another route for eligible customers to participate in Bitcoin based network security.
Staking and the proposed lending integration are separate activities with different reward arrangements and financial risks.
Bitcoin lending proposal needs more votes and security reviews
The October 14 submission is an Aave Request for Comment, meaning community members and risk specialists can review and discuss the plan.
Babylon initially introduced the integration through a Temperature Check proposal on May 25.
That preliminary proposal passed a community vote in June, allowing developers to prepare the more detailed October submission.
The current stage does not authorize the integration to launch.
According to Aave’s governance rules, a proposal advancing from the discussion stage can move to an offchain Snapshot vote before reaching formal onchain governance.
For the relevant Snapshot process, the proposal requires at least 320,000 AAVE equivalent votes in support. The final onchain vote must satisfy its own participation and approval requirements.
Babylon has not announced when those votes will take place.
The proposal describes security reviews conducted across five areas: Bitcoin vaults, proof generation, smart contracts, web services and the cryptographic system supporting vault settlements.
Six security firms participated in the audit work, including Coinspect, Sherlock, Zellic, ABDK, ZK Security and Runtime Verification.
Babylon states that each component received at least two independent reviews. Runtime Verification performed formal verification work on the smart contracts.
The company is now conducting another review of finalized changes with Coinspect, ABDK and Zellic before any mainnet deployment.
Babylon has committed to publishing the follow up reports when that work is completed.
The next formal steps listed in the October 14 proposal are community feedback and risk analysis, a possible Snapshot vote, and an Aave Improvement Proposal containing the complete risk settings for final onchain approval.
Uniswap v4 crosses 44 billion dollars in trading volume over 30 days. The latest version of the crypto protocol now accounts for 49.9% of Uniswap’s total activity, ahead of v3. This progress comes as the UNI token tries to recover after defending the 6.80 dollar support. Traders are notably watching a liquidity zone around 11 dollars.
In brief
Uniswap v4 exceeds 44 billion dollars in trades in 30 days.
The new version represents 49.9% of the protocol’s volume, compared to 44.9% for v3.
The UNI token rebounds from 6.80 dollars, with a significant liquidity zone around 11 dollars.
Uniswap v4 captures nearly half of crypto trades
Uniswap has just released significant figures regarding its fourth version. Over the last thirty days, the protocol processed more than 44 billion dollars in transactions via v4. This version now concentrates 49.9% of Uniswap’s total volume. V3 still represents 44.9% of trades, while v2 only retains 5.2%. For the first time in this recent distribution, the fourth generation clearly outpaces each of the older versions taken separately.
The start has been rather successful. Launched on January 31, 2025, Uniswap v4 was launched on twelve blockchain networks, notably Ethereum, Base, Arbitrum, Polygon, and Optimism.
This new architecture introduces hooks, modules allowing developers to customize the operation of liquidity pools.
They can notably modify fees, automate certain operations, or create more advanced management strategies. Uniswap v4 also improves transaction efficiency thanks to an architecture grouping pools in a main contract and an optimized accounting system.
These features reduce some usage costs of the crypto protocol. The figures published this week give a concrete indication of its adoption. V4 represents almost as much volume as the two previous versions combined. V3 nevertheless keeps an important place with nearly 45% of trades.
The crypto market also observes the rebound of the UNI crypto
While protocol activity is progressing, the UNI crypto tries to regain height. The price recently defended the 6.80 dollar area. Buyers intervened at this level, enabling a rebound and an improvement of the technical structure on the hourly chart.
On the daily chart, UNI was also trading above its 20, 30, and 50-day exponential moving averages. Positions on derivative products showed some optimism.
According to Coinalyze data, about 63% of tracked positions were bullish. Buyers thus dominated this market sample. This concentration also carries a risk. If UNI suddenly drops, long positions using leverage could face liquidations.
Uniswap still has another element likely to interest investors: its fee capture mechanism. In February 2026, a governance vote accompanied a 15% increase in the UNI token. The proposal notably aimed to extend the protocol fee collection to several additional networks.
Part of the revenue can thus feed mechanisms reducing the supply of the UNI crypto. However, be careful not to confuse the two indicators. The 44 billion dollars correspond to trades conducted on Uniswap v4, not to UNI token purchases.
Can UNI benefit from the 44 billion dollars volume?
Analysts are now watching an area around 11 dollars. According to CoinGlass’s liquidation map, about 535.1 million dollars of potential liquidity are concentrated near this level.
This area could attract the price if demand for UNI continues to increase. To reach it from the 6.80 dollar support, the UNI crypto would need to record a rise of about 62%. A significant move that cannot be deduced from the sole activity volume of Uniswap v4.
Buyers still need to confirm their presence in the spot market. However, the crypto protocol has a different economic model from its early years. In December 2025, Uniswap destroyed 100 million UNI tokens, following the approval of the UNIfication program.
Other burns can occur thanks to the mechanism associated with the protocol fees. On June 6, 2026, Uniswap notably recorded a burn of 134,000 UNI in a single day. These operations reduce the token supply, without guaranteeing a price increase.
For now, usage figures remain stronger than technical signals. With 49.9% of total volume, v4 has established itself among the main gateways for decentralized trading on Uniswap. The UNI crypto still must convert this activity into sustained demand. A return towards 11 dollars remains possible, but will also depend on the overall evolution of the crypto market.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Three major developments are reshaping the future of Filecoin tokenomics and strategy this month.
Rewarding Customer Acquisition & Retention – New network reward mechanics will direct a growing share of block rewards to services that bring paying customers onto the network.
End of Vesting – Vesting built into the Filecoin genesis block completes, reducing the daily token supply growth by 75%.
New Products – New products give enterprises, AI agents and IPFS users a live path onto the network.
Filecoin is evolving for a future where digital storage is a core pillar. Global data creation will nearly triple between 2025 and 2029 from a proliferation of AI-driven automation, sensors, and rapidly expanding needs for context to drive intelligence. The pace of these changes have driven memory and storage prices to more than double in a year, and the time between ordering new hardware and being able to install it has grown dramatically.
Other catalysts are also causing huge shifts in the storage market, with growing demand for sovereignty over data. As storage gets scarcer, more expensive, and more location sensitive, decentralized storage is uniquely positioned to meet these demands.
Filecoin has made major progress on the priorities of its 2026 Network Strategy. Six years after launch, the Filecoin network is well poised, offering a model that hyperscalers and other incumbents cannot: an open market where independent storage providers build services, compete for customers, and earn network rewards based on the customers they serve.
“The Filecoin network is already the world’s largest decentralized storage network. This year has been an inflection point for the Filecoin network, with the Filecoin community’s focus shifting away from growing supply and towards scaling demand. This is happening at just the right moment, as AI fundamentally changes the demand for self-sovereign storage, positioning Filecoin to become essential infrastructure for an AI-native world.”
– Marta Belcher, President, Filecoin Foundation
New Incentive Mechanisms: Rewarding Customer Acquisition & Retention
Solstice will change how the Filecoin network distributes block rewards, starting this month. This is one of the most significant changes to Filecoin’s reward system since the network launched.
The change will drive a growing share of block rewards to services that bring paying customers onto the network, while less rewards go to consensus-only mining. Any unearned portion of that service share is burned rather than distributed.
This change is aimed at orienting the network fully around providing services for revenue from paying customers, with the aim to greatly increase the business opportunity for storage providers on the network globally and supporting exceptional storage delivery.
Vesting is Ending, Dropping Circulating Supply Growth 75%
The network’s sixth anniversary since launch also marks the scheduled end of vesting for Protocol Labs and Filecoin Foundation’s token allocations, set when the network launched in 2020. With vesting complete, the daily amount of new FIL entering circulation drops by roughly 75%, according to FilecoinTLDR’s modeling.
Filecoin is Built for Enterprises and AI Agent Developers
Integral Spacetime
Integral Spacetime is a new storage neocloud, launched this week, that leverages the Filecoin network to power its business. The new company’s approach unlocks new commercial opportunities in storage infrastructure.
Acquisitions: Integral Spacetime buys businesses with large storage needs and moves their data workloads onto the network, bringing thousands of paying customers at once.
Equipment financing: Signed customer contracts and recurring revenue from acquired businesses enable financing of new, next generation storage capacity, improving total competitiveness and making the Filecoin network an even better business opportunity for operators around the world.
Fil One
As storage costs climb at the same time that storage needs are growing rapidly, enterprise businesses accustomed to using S3 object storage are looking for alternatives. Fil One is building a commercial onramp for enterprise storage demand within the broader Filecoin ecosystem, delivering high-performance and S3-compatible object storage at a fraction of hyperscaler list prices, with no egress fees on paid plans. The competitive edge is driving an active pipeline of paid enterprise storage demand sourced heavily through a dedicated GTM sales team and channel partners across AI infrastructure, automotive, banking, and sovereign government workloads. Fil One bridges enterprise IT budgets into sustainable, recurring onchain protocol volume while positioning Filecoin directly alongside GPU compute in the emerging neocloud stack.
And we’re building for the AI era, placing storage close to GPU compute in neocloud facilities so training and inference data stays accessible, fast, and affordable with a new storage-for-neocloud offering that places Fil One next to GPU compute.
AI Agent Skills and Tooling
AI agents are becoming storage customers in their own right. They generate a steady stream of output that needs to be kept or shared, and they need to buy storage programmatically, without a sales cycle or enterprise contract.
Filecoin tooling is making it incredibly easy for agents to choose and buy storage directly. Filecoin’s publish skill takes any file or folder and returns a public link that stays live and can be verified. The Filecoin MCP server and foc-cli give agents the same result from the terminal or inside an AI assistant. In each case, a storage provider proves it holds the data, and payment settles onchain. Or, for agents that prefer to use S3, Fil One’s documentation surfaces exactly how to choose and use Filecoin’s high performance network instead of getting locked into an expensive incumbent.
IPFS Migration Tools Converting Customers
Filecoin storage has released features that make it a first class destination for IPFS content in 2026. New, easy migration tools give users a more cost-effective option attached to a wallet, not a user account, with content addressing. Already, several teams are choosing to store their pinned IPFS data on Filecoin, from NFT platforms to institutions with legal and compliance obligations around their data.
A Single Cohesive Strategy for a New Era: Closing the Economic Loop
A customer, whether an enterprise archiving records or an agent storing its outputs, pays for a recurring service, and that payment settles onchain. The storage provider serving that customer earns the revenue and locks FIL against it. Rewards flow toward the services customers keep using, and whatever incentive goes unearned, along with a portion of fees, is burned rather than distributed. The result is a network that becomes more attractive to the next enterprise, developer, and operator, which starts the cycle again.
“The Filecoin flywheel is connected end to end now, and it’s starting to build momentum. We’re still early but the feedback loop between useful storage, customer revenue, network value, and service provider rewards is fully assembled and we have a downhill run ahead of us to build on that momentum.”
– Molly Mackinlay, CEO, FilOz
What Comes Next for Filecoin
The network has made tremendous progress so far in 2026. Data storage is rapidly shifting from commodity service to a fundamental enabling pillar that unlocks the promise of AI. Filecoin’s improved tokenomics, competitive product positioning, and forward-thinking developer tools are propelling the network forward at just the right time to realize the promise of decentralized storage.
Bitwise's NEAR ETF (NRR) and SVRN's plan to hold 10% of NEAR supply both rely on AI-agent activity on NEAR Protocol turning into real economic value.
@Bitwise chief investment officer Matt Hougan (@Matt_Hougan) sees the NEAR Protocol (@NEARProtocol) token $NEAR as a way to invest in blockchain infrastructure for AI-driven commerce. The firm's NEAR ETF, ticker NRR, pairs spot NEAR exposure with staking rewards. Separately, SVRN chief executive Sal Ternullo (@sal_ternullo) says his company aims to accumulate 10% of NEAR's token supply.
Both strategies rest on the same question: whether AI-related activity on NEAR can produce revenue and demand for the token.
How the Bitwise NEAR ETF works
On redemptions,
SVRN targets 10% of NEAR supplySVRN is taking a different route.
The company also runs operating businesses around the network.
Ternullo
The AI revenue questionThe AI thesis is still largely prospective.
Investors should also note that NRR does not offer direct exposure to AI companies.
Sources
The Block: Bitwise launches first US spot NEAR ETF with staking rewardsBitcoin.com News: Bitwise, SVRN Bet on NEAR as AI Infrastructure Thesis Takes ShapeCryptoRank: SVRN acquires FastNEAR
The proposal, still up for forum discussion, would also shrink daily CAKE emissions by about 69%, and early forum replies show holders worried about the token's burn.
PancakeSwap proposes giving LPs 88% of swap fees while cutting CAKE emissions
Posted October 15, 2026 at 7:01 am ET.
PancakeSwap’s core team wants liquidity providers on its newer pools to keep far more of the trading fees they generate, and to rely less on freshly minted CAKE to attract them.
In a forum post published on Oct. 14, the team, which posts as The Kitchen, laid out a plan it calls “The Flip.” Under the plan, liquidity providers on v3 and Infinity pools would take home 88% of swap fees on each of the 11 chains PancakeSwap supports, among them BNB Chain, Ethereum, Base and Solana. LPs on most pools currently keep between 66% and 68%. The remaining 12% would go to the PancakeSwap Treasury.
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
Fewer Tokens Minted The proposal pairs the fee change with a cut in daily CAKE emissions from 22,500 to 7,000, which the team described as an effective reduction of about 69%. That means 15,500 fewer CAKE created each day, or roughly 5.7 million a year. The 7,000 CAKE still issued daily would fund a new ecosystem pool called the Pantry, which the team said it would spend on marketing, partnerships and seeding liquidity in new pools.
“Growth is paid for by activity on the platform, not by minting more CAKE,” the post said.
By the team’s math, LPs on v3 and Infinity would have collected about $62 million more in fees on 2025 trading volume under the new split. Fee tiers for traders would stay the same. The v2 pools, whose fees are hard-coded, would not change and would keep sending 23% of their swap fees to the CAKE burn.
For existing Infinity pools, where LP fees were locked in at creation, the smaller protocol cut would lower the total fee instead. A 1% pool, for example, would drop to about 0.76%.
The team argued that “v2 alone keeps CAKE net deflationary,” pointing to an average net supply drop of about 190,000 CAKE per week over the past 10 weeks. It said that pace keeps CAKE on track for the roughly 20% supply reduction by 2030 set under Tokenomics 3.0, which passed in April 2025, with supply already down 11.5% since then.
Holders Push Back Most early replies on the thread were critical, and several commenters said burns would shrink. “v3 and Infinity stop burning CAKE. Why don’t you state this clearly?” wrote a user posting as Juapia, who suggested routing part of the 12% to burns.
Another user, matrdolfo, who said they have held CAKE since 2021, wrote that they were “fundamentally opposed to the final outcome.” A third, PancakesLover, wrote, “I would personally vote against this change.”
CAKE traded at $2.20 on Oct. 15, down about 6.8% over 24 hours, according to CoinGecko data.
In December 2023, PancakeSwap’s community voted to cut CAKE’s maximum supply from 750 million to 450 million. Holders approved a second cut in January 2026, lowering the cap to 400 million in a Snapshot vote that closed Jan. 19.
If The Flip passes, rollout would start in November and wrap up by the end of January 2027, according to the proposal. The plan has not yet gone to a Snapshot vote, and the team said it “will review all feedback before publishing the final proposal for voting.” No vote date has been set.
Related Listen: How Across Protocol’s Equity Pivot Puts Crypto’s Broken Tokenomics in Focus
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.
Revealed live at Ledger Op3n 2026, Ledger's new device, Ledger Atom™, will ship with the SolanadApp Store and wallet combined into one Seeker app.
, /PRNewswire/ -- Today, live on stage at Ledger Op3n 2026 in Paris, Solana Mobile, announced Ledger as its first hardware expansion partner. The SolanadApp Store and wallet will be combined into one Seeker app and integrated with Ledger Atom.
Ledger is Solana Mobile’s first hardware expansion partner. Ledger Atom™ will ship with the Seeker app preinstalled, giving Ledger users access to the Solana ecosystem.
The Solana dApp Store and wallet will be combined into one Seeker app on Ledger Atom.
This partnership builds on the hardware expansion Solana Mobile began in March 2026, when it opened the Solana Mobile Stack to Android manufacturers at Mobile World Congress in Barcelona. Every new device leveraging the Solana Mobile Stack brings more people into the SKR ecosystem. More people bring more builders. And more builders bring better apps, which bring the next wave of people. The SKR token is at the heart of it all, allowing users to be rewarded for participating in the ecosystem, developers for building and hardware manufacturers for integrating.
Ledger Atom is a new security and privacy device that leverages Android Open Source Project (AOSP) alongside a Secure Element (EAL6+) running Ledger OS, with the display and touch control physically isolated from the Android operating system. Seeker app will be integrated with this secure technology and preinstalled on the new device, serving as a gateway for Ledger users to the Solana ecosystem.
Ledger Atom will contain advanced anti-tampering and tamper-evident solutions from packaging to the device itself, including methods to help detect if the enclosure has been opened. Ledger Atom will only be sold directly on Ledger's official site.
"Great experiences come from teams who focus on the details, and Solana Mobile is one of those teams. Seeker made self-custody feel natural on mobile. Having the Seeker app on Ledger Atom from day one just makes sense, so Ledger users get access to the Solana ecosystem without giving up any of the security." — Ian Rogers, Chief Human Agency Officer, Ledger
Expanding beyond our own hardware
It's the right moment to expand: Seeker has proven people will hold and use their assets from hardware built for it, with over $13B in transaction volume on Seeker, 154 million transactions, and over 1,500 apps on the SolanadApp Store. The Seeker app on Ledger Atom gives users the best of both worlds: access to the world of Solana with the hardware expertise of Ledger.
App stores are one of the least contestable markets in the world. A few companies decide what ships and take up to a 30% cut of every transaction. Solana Mobile built the SolanadApp Store to change that. Developers can ship the crypto features other app stores often restrict, get reviewed in days instead of weeks, and reach an engaged audience that actually uses crypto every day. It was never supposed to live on just Seeker.
If you own a Seeker, nothing changes, Seeker will stay fully supported. If you build for Solana Mobile, the same SolanadApp Store submission now reaches an expanded audience across multiple devices. Ledger Atom users will join you in the Solana Mobile ecosystem as we bring the same experience to them with the Seeker app.
"The Seeker phone proved what a crypto-native mobile community can do: shipping over a thousand apps with billions in transaction volume from over 100,000 users, and founders finding their first customers in a matter of days. Now we're thrilled to take the Solana Mobile ecosystem further with Ledger, and I'm excited for Ledger Atom users to experience the magic that Seeker users have been experiencing for over a year." — Anatoly Yakovenko, Co-Founder and CEO, Solana Labs
What's in the Seeker app on Ledger Atom
The Seeker app will bring the core Solana Mobile experience to Ledger's hardware security model, enabling Ledger Atom users to:
Connect to the Solana ecosystem on day one. The Seeker app will be preloaded and featured on Ledger Atom's home screen.
Approve securely. Signing and approvals in the Seeker app will happen in Ledger Atom's Secure Mode, backed by the Secure Element and Ledger OS, so the transaction users confirm is the one they sign.
Discover apps. The SolanadApp Store will be built in, with 1500+ dApps available today on Seeker coming to Ledger Atom, spanning trading, payments, gaming, AI, and more.
How to reserve a Ledger Atom
Reservations for Ledger Atom are open now.
Get yours today: ledger.com/seeker
Missed the keynote? Watch the Ledger Op3n 2026 replay here.
About Solana Mobile
Solana Mobile Inc. shipped the Saga in 2023 and the Seeker in 2025, establishing the first production-validated mobile platform for hardware-secured digital asset management. With over 200,000 devices sold and $13B+ in transaction volume, we're now focused on scaling the platform through new hardware partners and the expansion of the economy around SKR, the native asset of the Solana Mobile ecosystem.
Ledger has spent years building small, single-purpose gadgets that keep crypto keys away from the internet. Now the company is reportedly stepping into the phone-shaped world it used to treat as the threat.
According to The Block, Ledger unveiled Atom, an Android-based security device. It features Solana Mobile integration, controls for AI agents, and protections against hardware tampering.
What Atom brings to the table
Per The Block, Atom rests on three main pillars. The first is its Android foundation, which marks a notable shift for a company known for purpose-built hardware wallets.
The second is Solana Mobile integration. The Solana Mobile Stack is a toolkit that lets Android device makers add hardware-secured self-custody and access to the Solana ecosystem. Its key component is Seed Vault, which keeps wallet secrets in protected hardware rather than in ordinary app storage. The stack is production-ready on supported chipsets and already powers the Seeker phone.
The third pillar is AI-agent controls. As autonomous software starts handling more tasks, including potentially moving funds, Ledger is reportedly building that oversight directly into the device rather than leaving it to individual apps.
Finally, Atom includes hardware-tampering protections.
How Ledger and Solana got here
Ledger’s lineup has so far centered on dedicated signing devices. The Nano Gen5 arrived in October 2025, joining the Flex and Stax models in the company’s catalog.
Those devices already support Solana. Users install the Solana app through Ledger Wallet and can manage accounts, transfers, and staking from there. Bluetooth-enabled models such as the Nano X can also pair with Android phones.
The company has shipped millions of devices overall and maintains broad multi-chain support.
On the other side, Solana Mobile has been building its own hardware story. Its Saga and Seeker devices have processed significant on-chain volume. Seeker in particular pairs Seed Vault with a fingerprint sensor for transaction signing.
What this means for users, Ledger, and Solana
The AI-agent angle may prove the most forward-looking piece. Agents that trade, pay, or rebalance on a user’s behalf create an obvious question: who approves the transaction when the human is not in the loop? Hardware-level controls place a physical checkpoint between autonomous software and the funds it might touch.
For Solana, the integration is a potential distribution win. The Solana Mobile Stack was designed for Android device makers to adopt, and a partner with Ledger’s name recognition could lend the approach added credibility.
The research summary accompanying the report notes that demand for secure custody remains robust. It also suggests that closer ties between Ledger and Solana Mobile could strengthen Ledger’s market position and benefit the SOL ecosystem, though those effects are speculative.
Moving onto Android expands what Ledger must defend, since a full mobile operating system carries a far larger attack surface than a minimalist signing device. Competition is another factor: Solana Mobile already sells its own Seeker device with Seed Vault, so Atom’s arrival raises the question of whether the two products complement each other or end up chasing the same buyers.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our daily news show 'FOMO HOUR' covering all of the top stories and market action.
GM!
Today’s top news:
Crypto majors fall 3-5% after hot CPI; BTC at $80.9k Over $900M liquidated as crypto majors selloff; alts down 5-15% Solana sets Oct 21 for Alpenglow on mainnet Papertrade flips Circle in daily revenue with $7.5M Kalshi says state-level oversight would drive prediction markets offshore 🏎️ Solana Cuts Finality From 12.8 Seconds to 150 MillisecondsNext Wednesday, Solana rips out the engine and drops in a new one while the car is doing 70 on the highway.
On October 21, around 15:00 UTC, Solana activates Alpenglow on mainnet, retiring the consensus mechanism it has run on since launch. Finality drops from roughly 12.8 seconds to a target of about 150 milliseconds – 85 times faster. Anza, the core dev shop behind it, called it “18 months of work for a migration that happens in one slot.”
Finality is the moment a transaction stops being reversible, the point where you can hand over the goods knowing the payment can’t be clawed back. Solana has always felt instant, but there was a roughly 13-second window where a block could in theory still get dropped. Every exchange and payment processor has had to build around that window. Next week it closes.
The old system breaks if more than about a third of staked SOL turns hostile. The new one is built to survive 20% of stake acting maliciously plus another 20% simply offline, and keep finalizing. For a chain whose reputation was built on outages, that’s the number institutions will actually care about.
Now the part that’s going to cause trouble. Validators currently cast their votes as transactions on the chain. Under Alpenglow they vote directly to each other instead, which means Solana’s headline transaction count and TPS figures are about to fall off a cliff. Nothing real changes - same users, same volume, same apps - but the number everyone has quoted for years was mostly validators voting at each other. Expect a wave of “Solana activity collapses” posts next Wednesday from people reading a dashboard.
This is also just phase one of two, and the second piece has no date yet. And Solana has missed an Alpenglow date before - a September 28 activation was announced, then pushed. So, grains of salt.
But clearly Solana is focused on speed as one of its primary differentiators - and it’s about to get a lot faster…
🌎 Macro Crypto and Markets Crypto majors are very red after CPI sent rate hike odds higher; BTC -3% at $80.9k; ETH -6% at $2,360; SOL -5% at $102; HYPE -3% at $79; ZEC -12% at $1,090 Top alt movers include PYTH (+3%) and CRV (+4%) Oil -1% at $95; Gold +0.2% at $4,180 Stock futures are mixed ahead of PPI; DOW +0.3%, Nasdaq -1.1% Over $900M in crypto longs were liquidated over the past 24 hours, led by ETH and BTC Hyperliquid founder Jeff Yan told Bloomberg that U.S. regulators should police the firms building on his blockchain rather than the network itself, arguing “the deployers are the ones that exercise these controls” Kalshi CEO Tarek Mansour said state-led oversight would drive prediction markets offshore, telling DC Fintech Week the court fight is “a choice of whether prediction markets exist in the U.S. or whether they go offshore” HEX founder Richard Heart was detained in Istanbul on an Interpol Red Notice that Finland requested in 2024 over aggravated tax fraud Russia’s largest bank, Sberbank, won approval to trade crypto for its 110 million retail clients, with a December 1 launch planned covering Bitcoin, Ethereum and USDT The European Banking Authority designated Circle’s USDC as the EU’s first “significant” e-money token under MiCA, the only one of 45 notified tokens to clear the bar, which puts it under direct EBA supervision of its reserves, capital and liquidity from November 12 Corporate Treasuries & ETFs
The Bitcoin ETFs saw $261M in net outflows on Wednesday; the ETH ETFs saw $130M in outflows Meme Coin Tracker
Meme leaders were red down 3-5%; DOGE -5%, SHIB -3%, PEPE -6%, PENGU -5%, TRUMP -3%, SPX -4%, BONK -5% Robinhood chain leaders were red down 5-20% reversing their recent gains; Pons -6% to $212M; AI -20% at $80M; Cashcat -18% at $100M; VRAX +40% and Wolfpack +55% led top movers Solana top movers included Dope +100%, Stream +9000%, Nihilism +1200% and Pepper +90% 💰 Token, Airdrop & Protocol Tracker Papertrade flipped Circle in revenue with $7.5M, highest of all onchain protocols; Hyperliquid was next with $2.64M, then Pump.fun with $2.04M Polygon Labs closed its acquisition of Coinme, picking up 37 state money transmitter licenses, 11 exemptions and FinCEN registration to cover 48 states, and turning its Open Money Stack into a licensed U.S. payments rail 🚚 What is happening in NFTs? NFT leaders were mostly flat; Punks even at 31.2 ETH, BAYC -1% at 5.45 ETH, Pudgy +2% at 2.42 ETH Yield Field Deeds (+10%), aligndraw (+38%) and Robinpunks (+230%) led top movers Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our daily news show 'FOMO HOUR' covering all of the top stories and market action.
GM!
Today’s top news:
Crypto majors fall 3-5% after hot CPI; BTC at $80.9k
Over $900M liquidated as crypto majors selloff; alts down 5-15%
Solana sets Oct 21 for Alpenglow on mainnet
Papertrade flips Circle in daily revenue with $7.5M
Kalshi says state-level oversight would drive prediction markets offshore
🏎️ Solana Cuts Finality From 12.8 Seconds to 150 MillisecondsNext Wednesday, Solana rips out the engine and drops in a new one while the car is doing 70 on the highway.
On October 21, around 15:00 UTC, Solana activates Alpenglow on mainnet, retiring the consensus mechanism it has run on since launch. Finality drops from roughly 12.8 seconds to a target of about 150 milliseconds – 85 times faster. Anza, the core dev shop behind it, called it “18 months of work for a migration that happens in one slot.”
Finality is the moment a transaction stops being reversible, the point where you can hand over the goods knowing the payment can’t be clawed back. Solana has always felt instant, but there was a roughly 13-second window where a block could in theory still get dropped. Every exchange and payment processor has had to build around that window. Next week it closes.
The old system breaks if more than about a third of staked SOL turns hostile. The new one is built to survive 20% of stake acting maliciously plus another 20% simply offline, and keep finalizing. For a chain whose reputation was built on outages, that’s the number institutions will actually care about.
Now the part that’s going to cause trouble. Validators currently cast their votes as transactions on the chain. Under Alpenglow they vote directly to each other instead, which means Solana’s headline transaction count and TPS figures are about to fall off a cliff. Nothing real changes - same users, same volume, same apps - but the number everyone has quoted for years was mostly validators voting at each other. Expect a wave of “Solana activity collapses” posts next Wednesday from people reading a dashboard.
This is also just phase one of two, and the second piece has no date yet. And Solana has missed an Alpenglow date before - a September 28 activation was announced, then pushed. So, grains of salt.
But clearly Solana is focused on speed as one of its primary differentiators - and it’s about to get a lot faster…
🌎 Macro Crypto and Markets
Crypto majors are very red after CPI sent rate hike odds higher; BTC -3% at $80.9k; ETH -6% at $2,360; SOL -5% at $102; HYPE -3% at $79; ZEC -12% at $1,090
Top alt movers include PYTH (+3%) and CRV (+4%)
Oil -1% at $95; Gold +0.2% at $4,180
Stock futures are mixed ahead of PPI; DOW +0.3%, Nasdaq -1.1%
Over $900M in crypto longs were liquidated over the past 24 hours, led by ETH and BTC
Hyperliquid founder Jeff Yan told Bloomberg that U.S. regulators should police the firms building on his blockchain rather than the network itself, arguing “the deployers are the ones that exercise these controls”
Kalshi CEO Tarek Mansour said state-led oversight would drive prediction markets offshore, telling DC Fintech Week the court fight is “a choice of whether prediction markets exist in the U.S. or whether they go offshore”
HEX founder Richard Heart was detained in Istanbul on an Interpol Red Notice that Finland requested in 2024 over aggravated tax fraud
Russia’s largest bank, Sberbank, won approval to trade crypto for its 110 million retail clients, with a December 1 launch planned covering Bitcoin, Ethereum and USDT
The European Banking Authority designated Circle’s USDC as the EU’s first “significant” e-money token under MiCA, the only one of 45 notified tokens to clear the bar, which puts it under direct EBA supervision of its reserves, capital and liquidity from November 12
Corporate Treasuries & ETFs
The Bitcoin ETFs saw $261M in net outflows on Wednesday; the ETH ETFs saw $130M in outflows
Meme Coin Tracker
Meme leaders were red down 3-5%; DOGE -5%, SHIB -3%, PEPE -6%, PENGU -5%, TRUMP -3%, SPX -4%, BONK -5%
Robinhood chain leaders were red down 5-20% reversing their recent gains; Pons -6% to $212M; AI -20% at $80M; Cashcat -18% at $100M; VRAX +40% and Wolfpack +55% led top movers
Solana top movers included Dope +100%, Stream +9000%, Nihilism +1200% and Pepper +90%
💰 Token, Airdrop & Protocol Tracker
Papertrade flipped Circle in revenue with $7.5M, highest of all onchain protocols; Hyperliquid was next with $2.64M, then Pump.fun with $2.04M
Polygon Labs closed its acquisition of Coinme, picking up 37 state money transmitter licenses, 11 exemptions and FinCEN registration to cover 48 states, and turning its Open Money Stack into a licensed U.S. payments rail
🚚 What is happening in NFTs?
NFT leaders were mostly flat; Punks even at 31.2 ETH, BAYC -1% at 5.45 ETH, Pudgy +2% at 2.42 ETH
Yield Field Deeds (+10%), aligndraw (+38%) and Robinpunks (+230%) led top movers
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
Solana Mobile has landed its first hardware expansion partner, and it is one of the biggest names in crypto security. Ledger, the hardware wallet of choice for over 30% of all retail crypto holdings, will release its new Ledger Atom device with the Seeker app preinstalled.
Revealed live on stage at Ledger Op3n 2026 in Paris, the partnership combines the Solana dApp Store and wallet into a single Seeker app, built directly into Ledger's new flagship device.
For a team that set out to challenge the mobile duopoly with a single phone, Seeker’s first hardware expansion is the clearest proof yet that the Solana Mobile Stack is ready for the wider world.
Ledger Unveils Atom, Leveraging New Seeker App The self-custody giant’s most ambitious product yet, Ledger Atom is a security and privacy device built on the Android Open Source Project (AOSP). Underneath the hood, a Secure Element (EAL6+) runs Ledger OS, with the device's display and touch controls physically isolated from the Android operating system.
Atom users will also get the full Solana dApp Store built into the device from Day 1, with over 1,500 dApps spanning trading, payments, gaming, AI, and more. Few distribution channels reach Solana's most active users as effectively as the Seeker app. By building it into Atom, Ledger gets a ready-made doorway into crypto's most active ecosystem, potentially putting the full breadth of the Solana dApp store in front of millions of new users.
"Great experiences come from teams who focus on the details, and Solana Mobile is one of those teams. Seeker made self-custody feel natural on mobile. Having the Seeker app on Ledger Atom from day one just makes sense, so Ledger users get access to the Solana ecosystem without giving up any of the security.” - Ian Rogers, Chief Human Agency Officer at Ledger.
Meanwhile, the device Seeker users know and love remains the central pillar of the Solana Mobile ecosystem, with a wealth of further announcements expected in the coming months that will advance the growth and expansion of $SKR and its decentralized economy.
Every signature and approval in the Seeker app will take place in Ledger Atom's Secure Mode, backed by the Secure Element and Ledger OS. Whenever a user initiates what Ledger considers a ‘sensitive’ activity, like signing a transaction, the Atom enters Secure mode, which disables any potential risk surfaces on the device, like microphones and screen readers.
In response to recent concerns, Ledger is hardening its physical security ahead of Atom’s rollout, introducing advanced anti-tampering and tamper-evident solutions from packaging to the device itself. To alleviate any supply chain concerns, Ledger Atom will only be sold directly on Ledger’s official site.
Beyond its collaboration with Solana Mobile, Ledger is making it clear that Solana sits near the top of its priorities.
In an exclusive comment to SolanaFloor, Ledger EVP Jean-François Rochet highlighted Solana as one of crypto’s main venues for tokenization, stablecoin payments and agentic activity.
“Historically, I think we have engaged further with the entire Solana ecosystem. Which is quite obvious as one of the main venues for everything tokenized, for payments, and beyond all the fame that they got in the past few years. So we are building a deeper partnership… and indeed a very strong commitment from all of us with Solana.” - Ledger EVP Jean-François Rochet
Ledger Atom will only be sold directly through Ledger's official site, with reservations open now at ledger.com/seeker. Shipping is currently slated for Summer 2027.
What Does Solana Mobile's First Hardware Expansion Mean for the Seeker Economy? Before today, the Solana Seeker, and its 1,500+ apps, was largely an ecosystem within an ecosystem. Despite selling over 200,000 units across the globe, the existing Seeker user base is predominantly made up of Solana power users. Ledger Atom broadens that reach, opening a new front door to the Seeker ecosystem for a user base that spans millions of hardware wallet owners worldwide.
The Seeker ecosystem has already processed over $13B in transaction volume across 154 million transactions. Ledger's distribution could put that activity in front of a far larger audience, many of whom may never have explored a Solana-native app before. By introducing new users to Seeker and Solana, Ledger’s worldwide clientele will be able to plug directly into services like the Seeker $USDC Earn Vault, potentially driving value to $SKR.
Speaking exclusively to SolanaFloor, Solana Mobile GM Emmett Hollyer asserted the expansion strengthens both sides of the Seeker economy.
"Until now, if you wanted to take part in the more than 1,500 apps and $13 billion in transaction volume that's been generated, you had to do it through Saga or through Seeker. Now there's another entry point with Ledger Atom. On the developer side, you not only get distribution to the 200,000 plus Solana Mobile devices that have been sold, but now you'll also get distribution to a whole new set of devices and units that are going out with Ledger." - Emmett Hollyer, Solana Mobile GM
For budding app developers and entrepreneurs, the Solana dApp Store offers a distinct economic advantage over the reigning smart phone duopoly. Where traditional app stores take up to a 30% cut of every transaction and can restrict crypto features outright, the Solana dApp Store promises speedy review turnarounds, and exposure to one of crypto’s most engaged user bases.
Many developers have reported onboarding several hundred verifiably authentic users within days of listing their application on Seeker.
"The Seeker phone proved what a crypto-native mobile community can do: shipping over a thousand apps with billions in transaction volume from over 100,000 users, and founders finding their first customers in a matter of days. Now we’re thrilled to take the Solana Mobile ecosystem further with Ledger, and I’m excited for Ledger Atom users to experience the magic that Seeker users have been experiencing for over a year.” - Anatoly Yakovenko, Co-Founder and CEO, Solana Labs
Solana Mobile Continues to Deliver When Saga launched in 2023, it quickly became a cult favorite among Solana natives. After completely selling out the first Solana phone, expectations for its successor were sky high. Solana Mobile promised a second, better phone. It delivered Seeker, which began shipping in August 2025 and has now sold over 200,000 units.
Solana Mobile then promised a token to power the Seeker economy, decentralizing ownership and governance of the protocol. It delivered $SKR, launching in January 2026 with 30% of the total supply allocated to the community in one of the year’s biggest airdrops.
Next came the promise of hardware expansion. At Breakpoint 2025, Hollyer announced collaborations with MediaTek, Trustonic, and FXTech, and in March 2026, Solana Mobile opened the Solana Mobile Stack to Android manufacturers at Mobile World Congress in Barcelona.
Seven months later, Solana Mobile has delivered on that promise too, with one of the most recognizable brands in crypto. For Hollyer, securing Seeker’s first hardware expansion with a partner as prominent as Ledger is a critical milestone for a team that started with plenty of unknowns.
“When I think back to where we were a few years ago, when we first launched Saga, there was so much unproven. To have an established partner like Ledger, somebody who's been building hardware in the space for so long, leverage our technology to improve their user experience, is validation that this ecosystem and the community we've built matters.”
Ledger Atom's design also reads like an endorsement of the principles Solana Mobile has championed since day one. Seeker's Seed Vault pioneered siloed, hardware-backed key management on mobile, and Atom's isolated Secure Mode follows that same philosophy.
Hollyer described Atom and Ledger OS as "another great step in the lineage of more secure, more siloed, secure enclaves and trusted execution environments," adding that more options for security-conscious users is always a win.
Read More on SolanaFloor Solana transaction finality is about to get 85x faster
Alpenglow Mainnet Activation Set for October 21 - Here’s What You Need to Know
Emmett Hollyer Weighs in on Radiant’s Clock In Hackathon
Crypto hardware wallet manufacturer Ledger has launched the Atom Android device at the Op3n event in Paris. The limited-edition founder version is priced at $849, with a fully refundable $100 deposit required for pre-orders; the regular retail price will be $899 after launch. Delivery is slated for summer 2027, pending completion of certification. Atom uses an FPGA chip to isolate its Android environment from a secure mode dedicated to transaction auditing and signing, while supporting standard Android applications. Solana Mobile plans to integrate its wallet and dApp Store into the Seeker app, which will connect to Atom, with transaction signing handled by the secure mode. The device will also come pre-installed with OpenClaw, a tool that lets users review transactions proposed by AI agents via Agent Intent, without exposing private keys to the agents. Addressing recent hardware wallet tampering incidents, Ledger stated that Atom can detect acts including screen removal, casing disassembly, and core area drilling. Anti-tamper sensors remain powered by an independent battery even when the device is turned off. The company added that its core protection features can block the screen-reading implant attack observed in the recent incidents. The device will be sold exclusively through Ledger’s official website.
Solana Mobile has announced its first major hardware collaboration with Ledger, revealing Ledger as a key partner in expanding Solana’s mobile ecosystem. The new Ledger Atom device will come pre-installed with the Seeker app, which integrates the Solana dApp Store and enables secure transaction signing through Ledger’s EAL6+ Secure Element. This partnership is designed to extend Solana’s app and wallet infrastructure into Ledger’s hardware network, potentially broadening its user base. Market participants may view this development as supportive of Solana’s ecosystem, potentially influencing the value of SOL in the market.
Key Takeaways
The announcement of Ledger as a hardware partner for Solana appears to enhance the ecosystem’s reach.
The introduction of the Ledger Atom with the Seeker app suggests expanded access to Solana’s dApps and wallet services.
Markets may interpret this partnership as supportive of increased demand for SOL, influencing its price prospects.
What to Watch
Observers are likely to monitor how effectively the Ledger partnership bolsters Solana’s ecosystem and user engagement. Key indicators will include the adoption rate of the Ledger Atom and its impact on Solana’s app and wallet usage metrics. Additionally, any significant changes in SOL’s market price or investor sentiment following this announcement could provide further insights into its long-term impact.
Ledger Atom will ship with Solana Mobile’s Seeker wallet and decentralized app marketplace preinstalled. The integration combines Solana application access with Ledger’s hardware-isolated transaction approvals. The partnership creates another distribution channel for developers, but its commercial impact and SKR incentives remain unquantified. Solana Mobile is expanding beyond its own smartphones through a partnership with Ledger, bringing its Seeker wallet and decentralized application marketplace to the upcoming Ledger Atom device.
Announced at Ledger Op3n 2026 in Paris on October 15, the agreement makes Ledger the first hardware partner to integrate Solana Mobile’s software ecosystem.
The move shifts Solana Mobile’s growth strategy toward a model in which other manufacturers can distribute its applications without requiring customers to purchase a Saga or Seeker smartphone.
For Ledger, the arrangement introduces an integrated Solana application experience to hardware primarily associated with securing digital assets.
Why Solana Mobile Is Expanding Beyond Smartphones Solana Mobile introduced its Mobile Stack for hardware manufacturers in March 2026, making wallet infrastructure, asset security and decentralized application distribution available to external Android device makers.
The software is designed as a modular integration, allowing manufacturers to adopt selected components rather than build a cryptocurrency platform from scratch.
Ledger Atom is the first announced hardware product to put that strategy into practice.
The device will include a unified Seeker application combining wallet functionality with access to the Solana dApp Store.
According to the official announcement, the marketplace currently offers more than 1,500 applications spanning trading, payments, gaming and artificial intelligence.
Developers already publishing through the store will be able to reach Ledger Atom users through the same submission process.
This reduces a potential distribution barrier. Developers would not need to maintain an entirely separate application marketplace presence to reach customers using the new hardware.
However, wider availability does not necessarily translate into greater adoption. The commercial value will depend on how many Ledger Atom owners actively use those applications and how frequently they transact.
Ledger Atom Separates Android From Transaction Approval The partnership also introduces a different security architecture from the one used in Solana Mobile’s smartphones.
Ledger Atom combines the Android Open Source Project with an EAL6+ Secure Element running Ledger OS. Its display and touch controls are physically isolated from the Android operating system.
That separation is designed to prevent the general-purpose software environment from controlling the information users see when approving transactions.
The Seeker application will use Ledger Atom’s Secure Mode for transaction signing and authorization.
Three elements define the approach:
Secure Element: Dedicated hardware supports protection of sensitive signing operations. Isolated confirmation: Transaction details are presented through display and touch controls separated from Android. Tamper detection: Hardware and packaging protections are intended to help reveal unauthorized physical interference. Ledger Chief Human Agency Officer Ian Rogers described the integration as a way to extend Solana Mobile’s self-custody experience while preserving Ledger’s hardware security approach.
The architecture addresses a meaningful concern for crypto users: the possibility that compromised software could interfere with transaction approval.
It does not remove every risk associated with self-custody.
Users can still authorize malicious smart contracts, approve deceptive transactions or lose funds through compromised applications. A protected signing environment helps preserve transaction integrity but cannot independently determine whether a transaction is financially safe.
Seeker’s Existing Activity Supports the Expansion Solana Mobile enters the partnership with an established hardware and developer ecosystem.
The company reported more than 200,000 devices sold across Saga and Seeker, alongside over $13 billion in transaction volume and 154 million transactions generated through Seeker.
These figures are company-reported and do not independently establish the number of active users or the profitability of the platform.
They nevertheless provide context for the decision to pursue third-party hardware integration.
Solana Mobile has already invested in developing wallet infrastructure, attracting applications and building an audience around hardware-supported cryptocurrency activity.
Distributing those components through another manufacturer allows the company to pursue additional users without bearing the full responsibility for designing and selling every device.
The arrangement also gives Ledger access to an existing application catalog, potentially broadening the device’s role beyond asset storage and transaction signing.
That creates a different competitive proposition from a conventional hardware wallet, although the companies have not disclosed expected sales volumes or adoption targets.
What the Partnership Could Mean for SKR The expansion is connected to Solana Mobile’s broader incentive model.
SKR is the native token of the Solana Mobile ecosystem, intended to align participation among users, application developers and hardware manufacturers.
Under the company’s Mobile Stack strategy, manufacturers may participate in revenue-sharing arrangements linked to transactions and ecosystem activity.
The model creates a potential financial incentive for hardware partners to support cryptocurrency applications after the initial device sale.
However, the Ledger announcement does not disclose a specific SKR allocation, reward structure or revenue-sharing agreement for Ledger Atom.
Consequently, the partnership should not be interpreted as confirmation of additional token demand or a defined new revenue stream.
Its immediate significance is the expansion of the ecosystem’s potential user base. Whether that translates into greater SKR participation will depend on how Ledger Atom is integrated into the incentive system and how customers use the device.
Ledger Atom Will Test Seeker’s Appeal Beyond Phones Reservations for Ledger Atom are open through Ledger’s official website, which will serve as its exclusive sales channel. The announcement does not specify a shipping date or final retail price.
Existing Seeker smartphones will continue receiving support.
The more consequential question is whether Solana Mobile’s applications can attract sustained usage on hardware designed around security rather than the broader smartphone experience.
For developers, the partnership offers another route to users. For Ledger, it adds a software ecosystem to its security-focused device. For Solana Mobile, it provides an opportunity to expand without relying exclusively on its own hardware sales.
The first meaningful evidence of success will come from device adoption, application engagement and any subsequently disclosed economics of the Ledger integration.
Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.
Nillion clarifies its Layer 2 (L2) shutdown arrangements, stating that the project is now operating on the Ethereum mainnet.
Nillion has issued a clarification, announcing it will gradually shut down its Nillion L2 over the coming weeks, as the project is now operational on the Ethereum mainnet. Users still holding NIL tokens on the L2 are required to migrate their assets to Ethereum L1 before the shutdown, with a dedicated bridge portal provided. The team stated that the earlier post sparked concerns among some users, prompting this clarification, and emphasized that the adjustment is purely a maintenance operation.
24 minutes ago
CoreWeave’s expanded borrowing plan sparks market unease, with high-yield bonds continuing their decline.
Amid intensifying declines in high-yield bonds, credit risk for AI cloud computing firm CoreWeave hit an all-time high on Thursday. The company’s plans to further expand its borrowing scale have sparked concerns among bond investors. Data from ICE Data Services shows that the cost of CoreWeave’s five-year credit default swaps (CDS) rose by 74.5 basis points at one point to 1,194.5 basis points, marking an intraday all-time high. This means the swap market pricing reflects that the company’s default probability over the next five years exceeds 60%. Meanwhile, CoreWeave bonds were among the biggest decliners in the U.S. junk bond market on Thursday. The financing boom in the AI sector is unsettling bond investors, prompting the market to reassess credit risks for some large tech firms, as evidenced by surging credit default insurance prices, heightened market volatility, and weak bond performance. As an early entrant in the AI cloud computing space that relies heavily on the high-yield bond market to fund business expansion, CoreWeave has drawn particular attention.
24 minutes ago
Bitwise’s Chief Investment Officer (CIO): Bitcoin Likely to Benefit Long-Term, Regardless of AI Boom or Its Bubble Burst
Bitwise Chief Investment Officer Matt Hougan stated in a client report that Bitcoin is likely to benefit in the long run regardless of whether AI drives an economic boom, an investment bubble bursts, or the economy grows only moderately. In the scenario where the AI bubble bursts and triggers a recession similar to 2008, given AI’s geopolitical significance, he puts the probability of subsequent government bailouts at “nearly 100%”. Bitcoin may first face a sell-off before rallying sharply amid a surge in the money supply. If AI significantly lifts productivity and GDP while cutting costs in sectors like software and legal services, Hougan forecasts that scarce assets such as Bitcoin will appreciate. Should the economy sustain 3% growth, 4% interest rates and a near soft landing, Bitcoin will still be supported by ETF inflows, adoption by financial advisors, and allocations on corporate and sovereign balance sheets. He cautioned that Bitcoin will not rise in a straight line, with some scenarios potentially involving difficult initial phases. Threats including quantum computing, coordinated government crackdowns, or renewed fiscal austerity by Western governments could also undermine his thesis; he considers these scenarios unlikely but not impossible.
24 minutes ago
Bitcoin rebounds to break through $81,000
According to HTX market data, Bitcoin has rebounded to break through the $81,000 level, with a 1.29% decline in the past 24 hours.
24 minutes ago
Bitcoin falls below $80,000
According to HTX market data, Bitcoin has fallen below $80,000, recording a 3.48% drop in the past 24 hours.
24 minutes ago
Nasdaq’s proposed $5 million market capitalization delisting threshold has sparked opposition from small U.S. businesses.
According to Bloomberg, Nasdaq plans to immediately suspend trading of listed companies with a market capitalization below $5 million for 30 consecutive days, followed by delisting, to curb market manipulation such as "pump and dump" schemes in micro-cap stocks. The proposal has faced opposition from small U.S. businesses; regulators put its rollout on hold last month and are soliciting further public comments. Bloomberg data shows more than 190 Nasdaq-listed companies currently have a market cap of no more than $5 million, with roughly one-third based in Asia and nearly half in the U.S. Opposing companies argue that natural price fluctuations stemming from low trading volume are not equivalent to market manipulation, and the proposal could deter financing and harm normally operating businesses. Unlike existing delisting rules for low share prices, which provide a 180-day correction period, the new proposal does not offer an extended grace period. Nasdaq, for its part, stated that securities assigned very low valuations by the market are more prone to volatility, posing an ongoing challenge to fair and orderly trading. NYSE American also proposed a similar $5 million threshold in March this year, and the U.S. Securities and Exchange Commission (SEC) has delayed a final vote as well.
NEAR Foundation has added Helius CEO Mert Mumtaz to its council to help develop private onchain markets and connect blockchain liquidity, according to an Oct. 15 announcement.
Mumtaz is the co-founder of Helius, which builds the infrastructure behind applications and services on Solana. Helius now provides RPC infrastructure, historical data, streaming, transaction delivery and validator services for Solana developers, with customers including Phantom, Jupiter, Coinbase and Bitwise.
Before launching the company, Mumtaz worked as a software engineer at Coinbase, BlackBerry, Shutterstock, Scotiabank and Clearco.
The appointment will see Mumtaz help oversee NEAR Foundation’s product strategy, ecosystem development and governance as it works to connect liquidity across blockchain networks.
The Canadian software engineer and crypto entrepreneur is also set to judge the NEAR Hackathon, which will run from Nov. 1 to 14 and focus on projects built using NEAR’s technology stack, including NEAR Intents and NEAR AI Cloud.
Mumtaz joins council members Illia Polosukhin, co-founder of NEAR Protocol; Diogo Mónica, co-founder of Anchorage Digital; Chris Donovan, former chief operating officer of NEAR Foundation; and Bowen Wang, founder of NEAR One.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Technical analyst Egrag Crypto stated that XRP may reach $60 if the cryptocurrency successfully breaks out of a long-standing symmetrical triangle pattern. He shared this analysis on X, highlighting several notable price zones if a breakout is confirmed.
Symmetrical triangle forms the basis for projectionsEgrag Crypto’s charting points to XRP trading within a large symmetrical triangle, a technical formation that has developed over multiple years. He uses a measured-move approach to estimate future price objectives, relying on the height of the triangle to calculate the targets if XRP moves decisively through resistance.
This method does not guarantee that XRP will reach these levels, as the price must first confirm a sustained breakout above the upper boundary. Egrag Crypto cautioned that outcomes could differ if XRP fails to surpass the triangle’s resistance.
The symmetrical triangle is a chart pattern commonly used in technical analysis, indicating a period of consolidation followed by a possible breakout. Its predictive power is dependent on the breakout direction and confirmation of momentum.
Mini dictionary: Symmetrical triangle, a chart pattern featuring converging trend lines, signaling decreasing volatility. Breakouts above or below these lines can often indicate significant price movement.
Potential price targets and extended projectionsAccording to Egrag Crypto’s analysis, the first confluence range for a possible breakout lies between $4.30 and $10.23. The chart also presents more ambitious targets at around $15.93, $33, and $60. Additional Fibonacci extension levels highlight zones near $5.24, $6.30, and $8.89 that could become relevant during a breakout.
XRP Price LevelType$4.30–$10.23Initial confluence range$15.93Extended target$33Extended target$60Maximum projected target$5.24, $6.30, $8.89Fibonacci extensionsAt the time of analysis, XRP traded near $1.37. The highest projected level represents a significant potential increase if the pattern plays out as outlined. However, the analyst emphasized these are conditional scenarios based on confirmed breakout momentum.
Charts and numbers don’t lie. The macro symmetrical triangle currently seen in XRP implies confluence zones between $4.30 and $10.23, with possible targets as high as $60 if a breakout is confirmed, drawing from over two decades of experience in investment and crypto sectors.
XRP’s role in institutional conversationsAlongside his technical outlook, Egrag Crypto addressed the tendency of institutional discussions to focus on Bitcoin, Ethereum, and Solana, while giving limited attention to XRP. He questioned this imbalance given the ongoing development of the XRP ecosystem, suggesting the market may not fully recognize XRP’s potential importance in the evolving digital financial landscape.
The projections and conversation about XRP’s market position remain speculative unless the coin decisively leaves the symmetrical triangle.
Egrag Crypto wonders why XRP has received less institutional attention than Bitcoin, Ethereum, or Solana, despite significant ecosystem growth, raising questions about its future significance in the financial system.
Nillion clarifies its Layer 2 (L2) shutdown arrangements, stating that the project is now operating on the Ethereum mainnet.
Nillion has issued a clarification, announcing it will gradually shut down its Nillion L2 over the coming weeks, as the project is now operational on the Ethereum mainnet. Users still holding NIL tokens on the L2 are required to migrate their assets to Ethereum L1 before the shutdown, with a dedicated bridge portal provided. The team stated that the earlier post sparked concerns among some users, prompting this clarification, and emphasized that the adjustment is purely a maintenance operation.
24 minutes ago
CoreWeave’s expanded borrowing plan sparks market unease, with high-yield bonds continuing their decline.
Amid intensifying declines in high-yield bonds, credit risk for AI cloud computing firm CoreWeave hit an all-time high on Thursday. The company’s plans to further expand its borrowing scale have sparked concerns among bond investors. Data from ICE Data Services shows that the cost of CoreWeave’s five-year credit default swaps (CDS) rose by 74.5 basis points at one point to 1,194.5 basis points, marking an intraday all-time high. This means the swap market pricing reflects that the company’s default probability over the next five years exceeds 60%. Meanwhile, CoreWeave bonds were among the biggest decliners in the U.S. junk bond market on Thursday. The financing boom in the AI sector is unsettling bond investors, prompting the market to reassess credit risks for some large tech firms, as evidenced by surging credit default insurance prices, heightened market volatility, and weak bond performance. As an early entrant in the AI cloud computing space that relies heavily on the high-yield bond market to fund business expansion, CoreWeave has drawn particular attention.
24 minutes ago
Bitwise’s Chief Investment Officer (CIO): Bitcoin Likely to Benefit Long-Term, Regardless of AI Boom or Its Bubble Burst
Bitwise Chief Investment Officer Matt Hougan stated in a client report that Bitcoin is likely to benefit in the long run regardless of whether AI drives an economic boom, an investment bubble bursts, or the economy grows only moderately. In the scenario where the AI bubble bursts and triggers a recession similar to 2008, given AI’s geopolitical significance, he puts the probability of subsequent government bailouts at “nearly 100%”. Bitcoin may first face a sell-off before rallying sharply amid a surge in the money supply. If AI significantly lifts productivity and GDP while cutting costs in sectors like software and legal services, Hougan forecasts that scarce assets such as Bitcoin will appreciate. Should the economy sustain 3% growth, 4% interest rates and a near soft landing, Bitcoin will still be supported by ETF inflows, adoption by financial advisors, and allocations on corporate and sovereign balance sheets. He cautioned that Bitcoin will not rise in a straight line, with some scenarios potentially involving difficult initial phases. Threats including quantum computing, coordinated government crackdowns, or renewed fiscal austerity by Western governments could also undermine his thesis; he considers these scenarios unlikely but not impossible.
24 minutes ago
Bitcoin rebounds to break through $81,000
According to HTX market data, Bitcoin has rebounded to break through the $81,000 level, with a 1.29% decline in the past 24 hours.
24 minutes ago
Bitcoin falls below $80,000
According to HTX market data, Bitcoin has fallen below $80,000, recording a 3.48% drop in the past 24 hours.
24 minutes ago
Nasdaq’s proposed $5 million market capitalization delisting threshold has sparked opposition from small U.S. businesses.
According to Bloomberg, Nasdaq plans to immediately suspend trading of listed companies with a market capitalization below $5 million for 30 consecutive days, followed by delisting, to curb market manipulation such as "pump and dump" schemes in micro-cap stocks. The proposal has faced opposition from small U.S. businesses; regulators put its rollout on hold last month and are soliciting further public comments. Bloomberg data shows more than 190 Nasdaq-listed companies currently have a market cap of no more than $5 million, with roughly one-third based in Asia and nearly half in the U.S. Opposing companies argue that natural price fluctuations stemming from low trading volume are not equivalent to market manipulation, and the proposal could deter financing and harm normally operating businesses. Unlike existing delisting rules for low share prices, which provide a 180-day correction period, the new proposal does not offer an extended grace period. Nasdaq, for its part, stated that securities assigned very low valuations by the market are more prone to volatility, posing an ongoing challenge to fair and orderly trading. NYSE American also proposed a similar $5 million threshold in March this year, and the U.S. Securities and Exchange Commission (SEC) has delayed a final vote as well.
Arthur Hayes, closely followed for his statements and predictions in the cryptocurrency market, took advantage of the market downturn by making new altcoin purchases.
He Made Purchases in Three Altcoins!
According to Lookonchain, a cryptocurrency analysis platform, Arthur Hayes purchased the altcoins AERO, PENDLE, and ZAMA.
According to Arkham data, Arthur Hayes made purchases totaling approximately $888,000, including 546,610 AERO ($460,000), 120,000 PENDLE ($232,000), and 3 million ZAMA ($197,000).
Crypto analyst Eric Nicholas Freund, citing Arkham data, suggested that Hayes may have resumed altcoin purchases after a long hiatus. Freund estimated that purchases began before October 14th for AERO, October 15th for PENDLE, and October 10th for ZAMA. The analyst also suggested that Hayes might promote these assets on social media in the near future.
There’s Activity Among Whales, Too!
Lookonchain reported that whales were buying at the dip. According to the data, the whale with the address “0x8E8b,” which previously sold 2,050 Ethereum ($4.93 million) and made a profit of $1.08 million, bought back 6,010 ETH ($14.23 million) today.
Another whale missed out on a potential $13.5 million profit by selling early. According to Lookonchain, the whale with the address 0x68Ef had purchased a total of 6.76 million BTW altcoins but sold them early, receiving only about $85,000. However, considering the current price of BTW, if they hadn’t sold, the value of their BTW holdings would have been around $13.5 million. This means the large investor missed out on a potential profit of approximately $13.415 million.
“0x68Ef Whale must be angry at itself.”
He acquired a total of 6.76M BTW but sold them too early for 85K. That 6.76M BTW is now worth $13.5 million. He missed out on enough money to retire!”
According to the whale tracking platform TradingBeats, a whale starting with the initials 0x007d opened a long position of 3,000 ETH using 25x leverage. The data shows that the average entry price was approximately $2,400, the current position value is around $7.05 million, the unrealized loss is approximately $150,000, and the position return is approximately -53%.
Lastly, 0xDD6A, a prominent short trader on Aster DEX who capitalized on the market downturn, made over $6.4 million in profit! Currently holding short positions with 20x leverage on Bitcoin, Ethereum, Solana, XRP, and Dogecoin, the trader’s total position size has reached $24.6 million, with a win rate of 100%.
*This is not investment advice.
Follow our Telegram and X account now for exclusive news, analytics and on-chain data!
The head of one of Solana's largest infrastructure firms is joining NEAR's governing council as the network expands its push into private, cross-chain markets.
What's the Scoop? New Council Member: Mert Mumtaz, CEO and co-founder of Helius, has joined the NEAR Foundation Council and will sit alongside NEAR co-founder Illia Polosukhin and Anchorage Digital co-founder Diogo Mónica.
His Role: Mumtaz will help guide NEAR's product strategy, ecosystem growth, and governance as the network expands into private onchain markets. He'll also judge NEAR's November 1–14 hackathon.
Cross-Chain Ties: Though he runs Helius, a major Solana infrastructure company, Mumtaz has been a vocal NEAR fan, calling it "the market of markets," a neutral layer connecting chains like Solana, Zcash, and AI networks: "If Solana is one continent… then NEAR is the silk road."
NEAR's Momentum: NEAR Intents, which lets users swap across blockchains without managing bridges, has processed over $33B in all-time volume. It also lost about $3.8M to a deposit-system bug on Oct 1, which the team patched, and it says it will fully repay users.
Quantum and AI Fears: The day before, Mumtaz and Polosukhin joined threadguy's roundtable on whether AI or quantum computers could break crypto. The takeaway was that coins are safe for now, and smart contract hacks are the bigger near-term risk. Mumtaz said most chains could upgrade if they had to, and that Zcash was "the best prepared."
Bankless 2823 posts
It’s time to break up with your bank, and join the movement for a better world.
Solana has established a physical presence in China's financial hub, drawing attention from Binance founder Changpeng Zhao.
Solana opened a new office in Shanghai on October 14, marking a first for a major blockchain ecosystem. The foundation also showcased its brand on a giant LED display on the city skyline, giving crypto an unusually visible presence in mainland China.
Vibhu Norby, Chief Product Officer at the Solana Foundation, highlighted the office's location, saying Solana now occupies the highest commercially available office space in the world.
Rachel Conlan, the foundation's Chief Strategy Officer, also shared images from the opening and described the community's energy in Shanghai as “incredible”.
The move attracted attention from Binance founder Changpeng “CZ” Zhao, who noted that BNB Chain had not managed a similar expansion into China. "It's amazing to see that Solana was able to advertise and even get an office in China," Zhao wrote on X. "BNB Chain was not able to do this, so far."
He added that he hoped “what's good for one industry player” would benefit the wider industry.
How Solana Is Navigating China's Crypto Restrictions Solana's presence in Shanghai stands out because mainland China has maintained strict restrictions on cryptocurrency trading and related financial activities since 2021.
However, the country's restrictions on crypto speculation do not amount to a blanket ban on blockchain technology. Chinese authorities continue to support blockchain infrastructure and other technology initiatives, creating a distinction between developing the underlying technology and promoting cryptocurrency trading.
Solana's recent activities in China appear to follow that distinction. Earlier in March, Solana launched the Shanghai Builder Station at the Alibaba Center in Hongqiao, with support from the Minhang District. The initiative positioned the location as a collaborative base for developers working on Layer 1 infrastructure and applications, rather than directly promoting crypto trading.
Community commentary has since highlighted Solana's emphasis on AI agents, robotics, Physical AI, developer collaboration, and hardware supply chains as a way to engage Chinese technology professionals while avoiding an emphasis on tokens, memecoins, and speculative trading.
However, the distinction does not eliminate regulatory risk. Chinese community members have raised concerns about the visibility of Solana's branding and the possibility of stricter scrutiny. One account also reported restrictions on related $SOL content on Douyin, China's video-based social media platform.
.
Solana Accelerate China Heads to 4 Cities The Shanghai office opening comes just ahead of Solana Accelerate China, a series of events scheduled to connect Chinese developers, founders and investors with the wider Solana ecosystem.
The schedule includes Shanghai on October 16, Hangzhou on October 18, Shenzhen on October 20, and Beijing on October 22. The tour gives Solana an opportunity to build relationships with China's tech community, particularly developers working across AI, robotics, and blockchain infrastructure.
Solana's Shanghai presence also gives the foundation a physical base for engaging with local builders beyond individual conferences and community gatherings.
What Solana's China Expansion Means Solana's new office and high-profile advertising represent a notable step for a blockchain ecosystem operating in a country with strict cryptocurrency restrictions. CZ's reaction further highlights how unusual the development appears within the industry.
Still, a physical office and a prominent advertising display do not establish that Chinese authorities have relaxed their position on cryptocurrency. Solana's longer-term progress in the region will depend on its ability to maintain local relationships, support technology development, and navigate the country's regulatory boundaries.
Read More on SolanaFloor Squads Tests Post-Quantum Signing on Solana Mainnet as Crypto Security Debate Intensifies
Alpenglow Mainnet Activation Set for October 21 - Here’s What You Need to Know
Jito CEO Says The End of CEXs is Closer Than You Think
Ethereum, XRP and Solana all dropped on October 15, 2026. The trigger had nothing to do with blockchains and everything to do with a spreadsheet from Washington.
The US Consumer Price Index for September showed inflation running at 3.7% year over year. Market analysts cited by Decrypt say macro factors, not crypto-specific problems, are what pushed altcoin prices down.
The numbers behind the selloff
Economists had expected the September CPI reading to land at 3.6%. Instead it came in a tenth of a point hotter, and it also climbed above August’s 3.4% rate.
The concern is simple. If inflation keeps rising, the Federal Reserve has less room to ease, and borrowing costs stay elevated for longer. That tends to drain enthusiasm for anything that sits at the riskier end of the investment spectrum.
Ethereum fell below $2,400, a slide of nearly 5-6% on the day. XRP traded in a range of $1.30-$1.31, while Solana hovered between $101-$102. Both of those tokens posted declines close to 5%.
Leverage made things worse. Total liquidations across the crypto market reached approximately $972 million over a 24-hour window, with long positions taking most of the damage. ETH accounted for the largest share of the wipeout.
Institutional money stepped back too
On October 14, Bitcoin spot ETFs recorded outflows of approximately $261 million. Ethereum spot ETFs lost around $130 million on the same day.
Solana products saw minor outflows, while XRP funds actually logged a modest inflow. That XRP inflow is a small detail, but a telling one. It suggests at least some institutional buyers were willing to add exposure even as the broader mood soured. It was not enough to stop the token’s price from falling roughly 5%, though.
Why macro is running the show
The 10-year US Treasury yield approached 5.3%, a level that represents multi-decade highs.
Other forces were also in play. Geopolitical tensions, rising oil prices and a hawkish tone in minutes from recent Federal Reserve meetings have kept markets on edge. Earlier October volatility was also correlated with climbing oil prices and Fed signals pointing toward tighter policy.
Analysts also noted that altcoins have been underperforming Bitcoin during this phase.
What this means for traders and investors
The Federal Reserve’s next decision is scheduled for October 28. A hotter-than-expected CPI reading raises the odds that policymakers lean toward keeping rates higher for longer.
Approximately $972 million in forced closures in a single day signals that a lot of leverage had built up on the long side. ETF flows are worth watching as a gauge of institutional conviction. Continued outflows from the Bitcoin and Ethereum funds would suggest larger investors are trimming risk until the rate outlook clears.
The split between XRP’s small inflow and Solana’s minor outflow shows that institutional appetite is not moving in lockstep across altcoins.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Cover image via depositphotos.com 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.
Shiba Inu has lost the level that held it up through most of the recovery. SHIB now trades near $0.00000496 after a daily candle that opened at $0.00000509 and fell as low as $0.00000483. The move pushed the price decisively below the 100 EMA, the orange line near $0.00000528, which had acted as the primary floor since August.
Main support invalidatedThis matters because buyers defended that line repeatedly. It was held in late August, again in mid-September, and it was the base for the rally to $0.00000627. Early in October, SHIB closed below it, attempted to climb back, and failed. Each rebound stopped beneath the line, which turned old support into new resistance. The current red candles confirm that sellers now control the trend.
SHIB/USDT Chart by TradingViewOther averages offer no support from above. The blue and cyan lines sit near $0.00000540 and $0.00000545, and the long 200 EMA near $0.00000562 is even farther away. Price would need a large rally just to test them. The RSI is near 36, close to oversold, which suggests strong selling but not yet a reversal signal. Volume is modest, so the decline is steady, not panicked.
HOT Stories
SHIB left with little support The chart is now largely empty below, so the supports that remain matter a great deal. The first is $0.00000483, today's low. Under that sits the September dip near $0.00000474, where buyers stepped in before the last rally.
If that breaks, the next area is $0.00000437 to $0.00000440, where SHIB bottomed in August. The final major support is the $0.00000405 to $0.00000410 zone, the lows from June and July. A fall there could erase the entire recovery of the past three months.
You Might Also Like
A bounce from $0.00000483 or $0.00000474 remains possible, since the RSI is low. But a bounce alone would not change the trend. It would only show whether buyers can build a base.
Without rising volume, any upward move is more likely a relief rally inside a larger downtrend. For buyers, the job is to reclaim $0.00000500 first, then the 100 EMA near $0.00000528. A daily close above that line would cancel the breakdown. Until then, rallies are likely to be sold.
Shiba Inu (SHIB) slipped below a crucial support level during recent trading, as the token dropped through the 100-day Exponential Moving Average (EMA), a price marker that had consistently provided support over the past three months. Following a daily session that opened at $0.00000509 and reached a low of $0.00000483, SHIB is now positioned near $0.00000496.
Break of 100 EMA shifts trendThe 100 EMA, located at approximately $0.00000528, served as a resilient price floor since August. Buyers had successfully defended this line on multiple occasions—in late August, mid-September, and during the base of the rally that sent SHIB to $0.00000627. Early October saw the token close below the 100 EMA, prompting an attempt to recover, but each rebound stalled underneath this level. The zone that once acted as support now functions as resistance, highlighting a significant shift in market sentiment as sellers continue to dominate the trend.
While buyers previously defended the 100 EMA, recent failed attempts to reclaim it demonstrate that this level has now become a firm resistance, confirming the prevailing control of sellers.
Other moving averages, such as the 50 EMA and 20 EMA, provide little relief for bulls, with the 50 EMA positioned around $0.00000540 and the 20 EMA at $0.00000545. The 200 EMA sits even higher near $0.00000562, making a significant rally necessary just to reach these indicators.
Momentum and technical outlookTechnical signals reveal a cautious environment. The Relative Strength Index (RSI) currently rests at 36, suggesting sustained selling but stopping short of indicating immediate oversold conditions. Trading volume remains moderate, which underlines a steady rather than panicked decline. The absence of major support levels above implies that any attempt at recovery will likely face stiff resistance from previous floors now turned ceilings.
The area below the current price is characterized by sparse support zones. The first notable level lies at $0.00000483, the day’s low, followed by the September dip at $0.00000474. Should these fail, the next potential supports are the August bottom between $0.00000437 and $0.00000440, and the June-July lows in the $0.00000405 to $0.00000410 range. A drop into these zones could potentially undo all the recovery progress made in the last quarter.
Support LevelReference Date/Context$0.00000483Today’s session low$0.00000474September dip$0.00000437–$0.00000440August bottom$0.00000405–$0.00000410June-July lowsReversal efforts and resistance zonesSome technical indicators leave open the possibility of a short-term bounce, given the low RSI readings near current support. However, analysts remain cautious, noting that such a move would not indicate a full trend reversal but might instead be a temporary relief rally, especially without a marked increase in buying volume.
For bullish momentum to return, buyers must first reclaim the $0.00000500 level, and more importantly, achieve a daily close above the 100 EMA around $0.00000528. Until these thresholds are surpassed, upward moves are expected to encounter heavy selling pressure, and the broader trend remains in favor of sellers.
Shiba Inu is the second-largest meme coin project by market capitalization, known for its active community and volatile trading patterns.
Japanese cryptocurrency exchange Rakuten Wallet has announced a SHIB-themed giveaway for its upcoming investment seminar in November, offering physical commemorative coins to SHIB holders who attend the event.
Seminar details and participationThe investment seminar is set to take place on November 3, a public holiday in Japan. Rakuten Wallet expects to draw investors interested in Shiba Inu and other digital assets. The event will be organized by Rakuten Securities, with Rakuten Wallet operating its own booth on site.
Matsuda, Senior Analyst at Rakuten, is scheduled to speak at the seminar following his previous appearance in October. This continued involvement underscores Rakuten’s ongoing engagement with the SHIB community in Japan.
To participate in the giveaway, attendees must present a screen within the Rakuten Wallet application confirming their SHIB holdings to the exchange’s staff at the booth. Rakuten Wallet indicated that all who meet this requirement will receive a giveaway item, with no stated exceptions.
Physical SHIB coins and previous eventsThe commemorative SHIB coins being distributed are physical metal souvenirs and do not have a technical link to the Shiba Inu blockchain. Rakuten Wallet first launched these coins earlier this year, introducing what it described as the world’s first physical Shiba Inu coin featuring a sandblasted—also known as blast finish—design.
In July 2026, Rakuten Wallet became the first entity to use this particular finish in minting SHIB coins. The tokens serve purely as collector’s items with no cryptocurrency value.
Similar giveaways have taken place before: Rakuten Wallet previously distributed physical ‘Shib coins’ at its Fukuoka seminar and confirmed plans to hold comparable events in Sapporo and Osaka in October.
Rakuten Wallet’s repeated initiatives highlight its ongoing support for Shiba Inu, which it added to its trading offerings in April of this year.
Market context and investor activityAt the time of the announcement, Shiba Inu was trading at $0.00000494, reflecting a 3.78% drop in the previous 24 hours. This decrease aligns with a widespread decline across the cryptocurrency market, following renewed concerns about potential Federal Reserve interest rate hikes due to higher-than-expected inflation data released on Wednesday.
Official statistics showed a year-on-year increase in consumer prices of 3.7% through September, compared with 3.4% in August, surpassing analyst forecasts. The core Consumer Price Index, excluding food and energy, also rose to 2.6%, up from 2.4% the previous month.
Selling intensified early Thursday, with a total of $972.26 million in futures positions liquidated over the previous 24 hours, according to data from CoinGlass. Shiba Inu extended its losing streak to four consecutive days, falling to an intraday low of $0.000004811 during this period.
Futures market volatility heightened, with $972.26 million in positions liquidated during a period when Shiba Inu registered its fourth straight day of losses, dropping to $0.000004811 intraday.
Monitoring price trends and investor timing offers crucial insight, particularly in the meme token segment, where internet-driven trends can generate rapid and significant shifts in market capitalization. Fomo App data cited a notable case where a $99 investment in “Niu Lai” ballooned to approximately $370,000, highlighting how closely tracking investor behavior and token discovery can impact results. Fomo App integrates trading, social feeds, trade notifications, and investor rankings into a single platform for users tracking meme token activity.
PUMP falls 14% as Bitcoin, XRP, ONDO and QNT test support. Daily charts map key levels, risks, and technical signals across five major crypto assets today.
Asset Price 24-hour change Aggregate 24-hour volume Rank Bitcoin $80,821 -3.45% $38.57B 1 XRP $1.30 -4.92% $2.25B 5 Ondo $0.431072 -8.19% $217.31M 48 Quant $195.20 -9.34% $125.65M 39 Pump.fun $0.004352 -13.66% $244.31M 49 Bitcoin RSI Weakens as Price Retests $80,300 Bitcoin’s completed October 14 candle fell 1.83% to $81,576 after trading between $81,333 and $84,049. Its 14-day RSI, calculated with Wilder smoothing, dropped to 46.62 from 51.89.
The move below 50 shows weakening momentum without reaching the conventional oversold threshold of 30.
BTC/USD daily chart shows RSI (14) falling below 50 as price approaches the October 8 low near $80,329. The completed 00:00–04:00 UTC candle closed at $80,828, while four-hour RSI stood at 33.40. The $80,821 market quote remained close to the seven-day low of $80,329, but this intraday test did not establish a confirmed daily breakdown.
A daily close below $80,329–$81,333 would weaken the range and bring the 50-day EMA near $80,257 into focus, followed by the upper-$79,000 area.
Recovering the 20-day EMA at $82,963 would improve the setup, although Bitcoin would still need to close above $84,053–$84,250 to clear its recent ceiling.
XRP Presses the Lower Bollinger Band XRP ended October 14 at $1.3299, down 2.56%, after setting a daily low of $1.3020. The close held just above the lower Bollinger Band at $1.3211, calculated from a 20-day simple moving average with two population standard deviations. The band midpoint stood at $1.4557.
XRP/USD daily chart shows the October 14 close holding just above the lower Bollinger Band at $1.3211, before further intraday weakness. The next completed four-hour candle fell as low as $1.2834 and closed at $1.3024. The $1.30 market price was approximately 5.1% below the roughly $1.37 level cited in Wednesday’s report.
Because the current daily candle remained open, the move below the lower band and previous daily low was not a confirmed closing break.
A daily close below $1.3020 would expose $1.2834 and the September 16 swing low near $1.2461.
Holding the lower-band area and reclaiming $1.3403 would begin to stabilize the structure.
A close above $1.3854 would offer stronger confirmation and reopen a move toward the $1.4557 midpoint.
Ondo Sits Between Its 20-Day and 50-Day EMAs Ondo was the highest-ranked eligible non-core asset on CoinGecko’s search-trending list at the cutoff. It traded at $0.431072, down 8.19% over 24 hours, with a market-cap rank of 48.
ONDO/USD daily chart shows the completed close between the 20-day EMA at $0.47610 and the 50-day EMA at $0.44219. ONDO’s completed daily candle lost 4.89% to $0.44498. This left price below the 20-day EMA at $0.47610 but marginally above the 50-day EMA at $0.44219.
Its position between the averages describes a compressed decision area rather than a confirmed directional break.
The completed four-hour candle was weaker, closing at $0.42990 after touching $0.42255.
A daily close below $0.42801–$0.44219 would validate the deterioration and place $0.42255, followed by approximately $0.41 and $0.40, at risk.
For a bullish shift, ONDO must recover $0.46787 and close above the 20-day EMA at $0.47610. That would expose $0.48838 and the psychological $0.50 level.
Quant’s Wide ATR Calls for Closing Confirmation Quant ranked 39th by market capitalization and appeared among CoinGecko’s most-searched assets as its 24-hour loss reached 9.34%.
Its completed October 14 candle closed at $205, down 2.32%, before the next four-hour candle fell to $190.44 and closed at $194.51.
QNT/USD daily chart shows support near $200.79–$201.20, with 14-day ATR measuring $29.80 as volatility remains elevated. QNT’s 14-day average true range, using Wilder smoothing, measured $29.80, or 14.53% of the daily close. ATR gauges movement size rather than direction.
The reading eased from $30.83 but remained large enough for intraday wicks to cross nearby levels without confirming a trend change.
The $195.20 live quote was below completed daily support at $200.79–$201.20. A daily close below that zone would confirm a break and put $190.44 in view, followed by the four-hour 200-period EMA near $183.66.
A recovery through $209.87 would ease immediate pressure, while a close above $217.55 would clear the October 14 high and shift attention to $231.15.
PUMP MACD Deteriorates as Weekly Loss Reaches 30% PUMP recorded the largest 24-hour decline among the five assets, falling 13.66% to $0.004352. It remained a top-100 asset at rank 49 and was down 30.29% over seven days.
PUMP/USD MACD remains below its signal line as the daily histogram becomes more negative. Its repeat inclusion follows a material change in the setup: the price was approximately 13.8% below the $0.005050 area recorded in the October 13 report.
The completed daily candle fell 5.02% to $0.004768. On the standard 12,26,9 MACD, the line stood at $0.000179 versus a $0.000360 signal line.
The histogram widened to negative $0.000181 from negative $0.000152. This was not a new crossover; it was a confirmed expansion of negative momentum on a completed daily candle.
The subsequent four-hour candle traded as low as $0.004000 and closed at $0.004347.
That placed the live market below completed support at $0.004660–$0.004768, but only a daily close below $0.004660 would confirm the break.
Such a close would expose the lower Bollinger reference near $0.004211, followed by $0.004000 and the September 25 low at $0.003832.
A close back above $0.005020–$0.005138 would invalidate the immediate breakdown and bring the 20-day EMA at $0.005288 into focus.
The Hex (HEX) token fell nearly 30% in the past 24 hours after local media reports of founder Richard Schueler, also known as Richard Heart, being detained by authorities in Istanbul.
The HEX token declined to $0.0006 as of 11:28 am UTC on Thursday, erasing about $160 million from its market capitalization, from more than $500 million on Wednesday to $340 million by press time, according to CoinMarketCap. It previously topped $0.44 in September 2021.
On Wednesday, news outlet Ihlas Haber Ajansı (IHA) reported that Schueler and his wife were detained in Istanbul by Turkish authorities. Police reportedly seized multiple devices, hardware wallets, jewelry and handguns.
The reported arrest comes nearly two years after the world’s largest international police organization, Interpol, issued a “Red Notice” for Schueler for allegedly committing tax fraud and assault, with Finnish authorities seeking his arrest.
A spokesperson for Finland’s National Bureau of Investigations declined to comment on the matter.
Schueler was also listed on Europe’s most wanted fugitives list on similar allegations, claiming that he “physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell and knocking them to the ground.”
In July 2023, the US Securities and Exchange Commission (SEC) sued Schueler, alleging he raised $1 billion in an unregistered securities offering and misappropriated at least $12 million.
US District Judge Carol Bagley Amon dismissed the case in February 2025, after ruling that the activities were not sufficiently directed at US investors. In April 2025, the SEC said it didn’t intend to refile its securities fraud complaint against Schueler.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The Hex (HEX) token fell nearly 30% in the past 24 hours after local media reports of founder Richard Schueler, also known as Richard Heart, being detained by authorities in Istanbul.
The HEX token declined to $0.0006 as of 11:28 am UTC on Thursday, erasing about $160 million from its market capitalization, from more than $500 million on Wednesday to $340 million by press time, according to CoinMarketCap. It previously topped $0.44 in September 2021.
On Wednesday, news outlet Ihlas Haber Ajansı (IHA) reported that Schueler and his wife were detained in Istanbul by Turkish authorities. Police reportedly seized multiple devices, hardware wallets, jewelry and handguns.
The reported arrest comes nearly two years after the world’s largest international police organization, Interpol, issued a “Red Notice” for Schueler for allegedly committing tax fraud and assault, with Finnish authorities seeking his arrest.
A spokesperson for Finland’s National Bureau of Investigations declined to comment on the matter.
Schueler was also listed on Europe’s most wanted fugitives list on similar allegations, claiming that he “physically assaulted a 16-year-old victim by grabbing their hair, dragging them into the stairwell and knocking them to the ground.”
In July 2023, the US Securities and Exchange Commission (SEC) sued Schueler, alleging he raised $1 billion in an unregistered securities offering and misappropriated at least $12 million.
US District Judge Carol Bagley Amon dismissed the case in February 2025, after ruling that the activities were not sufficiently directed at US investors. In April 2025, the SEC said it didn’t intend to refile its securities fraud complaint against Schueler.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
PANews reported on October 15 that, according to Cointelegraph, security firm Hacken disclosed that a total of 107 crypto hacks occurred in the third quarter of 2026, with total losses of $1.18 billion. Of this, roughly $906 million (about 77%) was tied to compromised vendor and developer tools, disclosed but undeployed fixes, and infrastructure outside the audit scope.
Losses were mainly concentrated in four incidents: Bitget lost $387 million, Liquid Network lost $320 million, Tectonic lost $120 million, and a Coldcard firmware vulnerability caused losses of about $115 million, together accounting for roughly 80%. The other 98 incidents each involved less than $10 million, with a median of $670,000. Smart contract attacks were the most common, with 71 incidents and $228 million in losses.
This quarter was the worst for losses since Q1 2025. On the recovery side, about $387 million was returned or reversed, accounting for about 33% of gross losses; operators bore an additional $410 million in user losses, and about $384 million remains unrecovered.
Bitwise’s Chief Investment Officer (CIO): Bitcoin Likely to Benefit Long-Term, Regardless of AI Boom or Its Bubble Burst
Bitwise Chief Investment Officer Matt Hougan stated in a client report that Bitcoin is likely to benefit in the long run regardless of whether AI drives an economic boom, an investment bubble bursts, or the economy grows only moderately. In the scenario where the AI bubble bursts and triggers a recession similar to 2008, given AI’s geopolitical significance, he puts the probability of subsequent government bailouts at “nearly 100%”. Bitcoin may first face a sell-off before rallying sharply amid a surge in the money supply. If AI significantly lifts productivity and GDP while cutting costs in sectors like software and legal services, Hougan forecasts that scarce assets such as Bitcoin will appreciate. Should the economy sustain 3% growth, 4% interest rates and a near soft landing, Bitcoin will still be supported by ETF inflows, adoption by financial advisors, and allocations on corporate and sovereign balance sheets. He cautioned that Bitcoin will not rise in a straight line, with some scenarios potentially involving difficult initial phases. Threats including quantum computing, coordinated government crackdowns, or renewed fiscal austerity by Western governments could also undermine his thesis; he considers these scenarios unlikely but not impossible.
9 minutes ago
Bitcoin rebounds to break through $81,000
According to HTX market data, Bitcoin has rebounded to break through the $81,000 level, with a 1.29% decline in the past 24 hours.
9 minutes ago
Bitcoin falls below $80,000
According to HTX market data, Bitcoin has fallen below $80,000, recording a 3.48% drop in the past 24 hours.
9 minutes ago
Nasdaq’s proposed $5 million market capitalization delisting threshold has sparked opposition from small U.S. businesses.
According to Bloomberg, Nasdaq plans to immediately suspend trading of listed companies with a market capitalization below $5 million for 30 consecutive days, followed by delisting, to curb market manipulation such as "pump and dump" schemes in micro-cap stocks. The proposal has faced opposition from small U.S. businesses; regulators put its rollout on hold last month and are soliciting further public comments. Bloomberg data shows more than 190 Nasdaq-listed companies currently have a market cap of no more than $5 million, with roughly one-third based in Asia and nearly half in the U.S. Opposing companies argue that natural price fluctuations stemming from low trading volume are not equivalent to market manipulation, and the proposal could deter financing and harm normally operating businesses. Unlike existing delisting rules for low share prices, which provide a 180-day correction period, the new proposal does not offer an extended grace period. Nasdaq, for its part, stated that securities assigned very low valuations by the market are more prone to volatility, posing an ongoing challenge to fair and orderly trading. NYSE American also proposed a similar $5 million threshold in March this year, and the U.S. Securities and Exchange Commission (SEC) has delayed a final vote as well.
9 minutes ago
The Philadelphia Semiconductor Index is on track to erase more than $2 trillion in market capitalization within seven trading days.
According to market data from BIT (bit.com), the Philadelphia Semiconductor Index is set to lose over $2 trillion in market capitalization within seven trading days.
TLDR VanEck filed a request with the SEC to withdraw its application for a Lido staked Ether ETF. The firm said it does not intend to proceed with selling shares of the fund. The fund’s S-1 registration statement was first filed on Oct. 16, 2025. The ETF would have held Lido staked Ether (stETH) and earned certain staking rewards. VanEck did not explain its decision or say if a replacement product is planned. Asset manager VanEck has asked the U.S. Securities and Exchange Commission to let it withdraw its application for a Lido staked Ether exchange-traded fund. The move shelves a product designed to give investors exposure to a liquid staking token.
The request was made in a filing dated Oct. 14, 2026. In it, VanEck Digital Assets said it “does not intend to proceed with the planned distribution” of the trust’s shares.
The company did not explain what led to the decision. It also did not say whether it plans to pursue a replacement product.
What the Fund Was Meant to Do VanEck first filed the fund’s S-1 registration statement on Oct. 16, 2025. An S-1 is the form companies use to register new securities with the SEC.
The proposed fund would have held Lido staked Ether, known as stETH. This token represents Ether that has been staked through the Lido protocol.
According to the original filing, the fund expected to earn certain staking rewards through its ownership of stETH. Staking rewards are paid to users who lock up tokens to help secure a blockchain network.
The application was one of several new crypto ETF filings submitted in October 2025.
Details of the Withdrawal Request The withdrawal was filed as a Form RW, which is a request for withdrawal. It was made under Rule 477 of the Securities Act of 1933.
The letter was sent to the SEC’s Division of Corporation Finance in Washington, D.C. It was signed by Matthew A. Babinsky, a vice president at VanEck Digital Assets.
VanEck asked the SEC to approve the withdrawal as of the filing date, or at the earliest practical date after that. The request covers the original registration statement, all later amendments and all exhibits.
The firm said its only reason for the withdrawal is that it no longer plans to distribute the trust’s shares. No other grounds were given in the letter.
VanEck also confirmed several facts about the fund’s status. The registration statement was never declared effective by the SEC.
The firm said no shares have been issued or sold under the registration statement, and none will be. It added that no preliminary prospectus for the fund was ever handed out.
The letter named two lawyers at the law firm Sidley Austin LLP as contacts for any questions. They are Cliff Cone and Etherial Edetan.
The registration statement carried SEC file number 333-290918. VanEck Digital Assets is based at 666 Third Avenue in New York City.
Cointelegraph reached out to VanEck Digital Assets for comment on the decision. The company has not yet publicly explained why it dropped the fund.
An automated market maker (AMM) is a DeFi protocol that prices and processes swaps using pooled liquidity and a mathematical formula instead of matching individual buyers and sellers. Here’s how AMMs work, how they set prices and why liquidity depth matters when you swap.
When you swap tokens on a decentralized exchange (DEX), there may be no seller waiting on the other side of your trade. Instead, your swap can happen against a pool of tokens whose price changes automatically as you trade.
That mechanism is an automated market maker, or AMM.
AMMs underpin much of DeFi liquidity. But understanding how they work also explains something important about swapping: the same trade can produce different results across different liquidity pools. Price depends on the AMM design, the assets in the pool, its liquidity depth and the size of your swap.
As the team behind the original DEX aggregator, 1inch deals with this fragmentation directly: its routing algorithm evaluates liquidity from multiple sources to find efficient routes for swaps. Now, let’s see what happens inside an AMM, starting with the math.
What is an automated market maker?An automated market maker is a set of smart contracts that enables token swaps using pooled liquidity and predefined pricing rules. Unlike a traditional order book, an AMM does not need to match your buy order with somebody else's sell order.
Instead, you trade against a liquidity pool. A basic pool might contain two tokens, such as ETH and USDC. Liquidity providers (LPs) supply those assets to the pool. When you swap USDC for ETH, you add USDC to the pool and remove ETH. The AMM's formula recalculates the price based on the pool's new balances.
An order book records bids and asks at different prices and matches buyers with sellers. An AMM instead, effectively creates prices algorithmically from the assets available in its liquidity pool.
The term can be confusing because "market maker" also has a different meaning in traditional finance. Traditional market makers actively quote buy and sell prices. An AMM automates this function through smart contracts and liquidity supplied on-chain.
Different AMMs use different formulas and liquidity structures, but they share the same basic goal: making assets available for swaps without requiring a direct counterparty for every transaction.
How AMMs actually price a trade
The classic AMM model uses a simple equation:
x × y = k
Here, x is the amount of one token in the pool, y is the amount of the other and k is a constant.
Suppose an ETH/USDC pool contains:
100 ETH200,000 USDCIgnoring fees for simplicity:
100 × 200,000 = 20,000,000
So k = 20,000,000.
The ratio of the reserves gives an initial pool price of:
200,000 / 100 = 2,000 USDC per ETH
Now imagine someone swaps 20,000 USDC for ETH.
The pool receives the 20,000 USDC, increasing that side of the pool to 220,000 USDC. To keep the constant product unchanged:
x × 220,000 = 20,000,000
Therefore:
x ≈ 90.91 ETH
The trader receives roughly:
100 − 90.91 = 9.09 ETH
After the trade, the pool holds approximately 90.91 ETH and 220,000 USDC.
The reserve ratio has changed. The pool's marginal price is now approximately:
220,000 / 90.91 ≈ 2,420 USDC per ETH
This mechanism is known as a constant product AMM. It is closely associated with Uniswap and is one of the most familiar AMM designs.
The curve also ensures that buying increasingly large amounts of one asset becomes progressively more expensive. You cannot simply remove all the ETH at the original price. As ETH leaves the pool, its price relative to USDC rises.
Not every AMM uses the same curve. Stablecoin-focused AMMs can use a flatter curve around the expected price of closely correlated assets, allowing larger swaps with less price impact near that point. Other designs use different bonding curves or asset weights to change how liquidity and prices behave.
But the underlying principle remains: the smart contract determines the terms of the swap based on its rules and the state of its liquidity.
What happens when you swap through an AMMWhen your wallet shows you a quote, that is not necessarily the exact price at which every part of the swap will take place.
The AMM price changes as your trade changes the pool. Consider the example above. Before the swap, the reserve ratio implies 2,000 USDC per ETH. But swapping 20,000 USDC does not give you 10 ETH. It gives you roughly 9.09 ETH before accounting for fees.
The difference results from price impact. Price impact is the effect your own trade has on the price available from the pool. The larger your trade is relative to the pool's liquidity, the greater that impact tends to be.
A 20,000 USDC swap against a pool containing 200,000 USDC is significant. The same swap against a pool holding 20 mln USDC would generally move the price much less.
Slippage is related but different. It refers to the difference between the price you expect when submitting a transaction and the price you actually receive when it is processed.
Prices can move while your transaction is waiting to be included in a block. Other swaps can change the pool's reserves before yours goes through.
A slippage tolerance sets the maximum deterioration in the swap outcome you are willing to accept. If the available outcome moves beyond that limit, the transaction should revert rather than complete under the changed conditions.
The practical takeaway is straightforward: pool depth matters. Larger trades against shallow liquidity can move an AMM's price substantially.
And because liquidity is spread across many pools and AMMs, the depth available for the same token pair can vary considerably from one source to another.
Liquidity providers and AMM poolsAMMs need assets for traders to swap. Those assets come from liquidity providers. In a traditional two-token AMM, LPs deposit both assets into a pool. In return, they receive a claim on their share of the pool and a portion of the fees generated by swaps.
Historically, that claim has often been represented by LP tokens, although newer AMM designs can represent liquidity positions differently.
Providing liquidity therefore creates a trade-off. LPs can collect swap fees, but the composition and value of their position can change as traders interact with the pool.
One important risk is impermanent loss. It can occur when the relative prices of the assets deposited in a pool change, leaving the LP with a different outcome than simply holding the assets outside the pool.
The mechanics depend on the AMM design and can become more complex with concentrated liquidity. See 1inch's guide to impermanent loss for a detailed explanation.
Some DeFi protocols also add incentives such as liquidity mining on top of the fees generated by the underlying AMM. These incentives are separate from the AMM pricing mechanism itself and can introduce additional risks.
Different AMM designsComparing modern AMM mathematical models
There is no single AMM model. Different designs change the relationship between liquidity, pricing and capital efficiency. Three important approaches illustrate those differences.
Balancer, Curve and Uniswap are examples rather than a ranking. Each design makes different trade-offs.
Concentrated Liquidity MechanicsConcentrated liquidity allows providers to deposit capital within targeted price ranges rather than distributing liquidity from zero to infinity.
Enhanced Capital Multipliers: Concentrated pools achieve deeper effective liquidity around active trading ranges with lower overall capital requirements.Out-of-Range Risk: Liquidity positions stop earning swap fees and convert entirely into the depreciating asset if market prices move outside the configured range.Active Rebalancing Overhead: Capital efficiency requires frequent position management, increasing gas costs and operational complexity for passive providers.AMMs within the broader DEX ecosystemA single AMM only shows you part of the picture. The same token pair can trade across multiple AMMs, multiple pools, and multiple blockchain networks at once.
No single AMM reliably offers the best price for every swap. A DEX aggregator checks liquidity across all available sources and routes your swap to the best combination, automatically.
Pool conditions vary in three ways:
Depth (how much liquidity is available)Fees (what you pay per swap)Pricing curve (how much the price moves as you trade)A route does not necessarily have to use just one AMM. Depending on the available liquidity, splitting a swap between different sources can produce a more efficient result than sending the entire amount through one pool.
Imagine two ETH/USDC pools. Pool A offers a slightly better starting price but has relatively shallow liquidity. Pool B starts with a slightly worse price but is much deeper.
Sending a large swap entirely through Pool A could move its price sharply. Dividing the trade between the two pools could reduce total price impact.
This is the logic behind aggregation. 1inch's routing technology evaluates available liquidity to find routes for swaps rather than assuming one AMM will always provide the optimal path.
AMMs are not the only model used by decentralized markets. On-chain and hybrid order books also exist and can be useful for particular markets or trade sizes. But AMMs remain a major source of DeFi liquidity, which makes understanding their mechanics important even when an aggregator handles routing for you.
The real risks of AMMs: MEV, frontrunning, and smart contractsAMMs automate market making, but they do not remove market or technical risk. One important mechanism to understand is arbitrage. Suppose ETH trades at 2,000 USDC in the wider market but an AMM's pool price implies 1,950 USDC. An arbitrageur can buy ETH from the AMM at the lower price and sell it elsewhere.
That activity changes the pool's reserves and moves its price toward the broader market price. Arbitrage is therefore part of how AMM prices remain aligned with external markets. But the same process affects LPs because arbitrageurs trade against the pool when its internal price diverges from the wider market. That relationship is closely connected to the mechanics of impermanent loss.
MEV creates another execution risk. Because blockchain transactions can be visible before they are finalized, another actor may sometimes be able to place transactions around a pending swap. A sandwich attack is a common example.
Anatomy of an AMM Sandwich AttackSandwich attacks target pending swaps broadcasting in the public blockchain mempool:
Detection: A predatory searcher bot scans the public mempool and identifies a high-volume pending AMM swap with loose slippage tolerance.Frontrun Buy: The bot broadcasts a transaction with a higher gas fee to buy the target asset immediately before the victim's trade, intentionally driving up the pool price.Victim Execution: The victim's transaction executes at the inflated price, absorbing severe price impact.Backrun Sell: The bot executes a sell transaction within the same block, dumping the inflated asset back into the pool to capture riskless arbitrage profit.Appropriate slippage settings can limit how far a swap is allowed to move from the expected outcome, although they do not remove every form of MEV risk.
Finally, AMMs depend on smart contracts. Bugs, unexpected interactions and exploits remain possible even when contracts have been audited. An audit can reduce risk and provide information about the system's security posture, but it cannot guarantee that a contract is bug-free.
Anyone providing liquidity should therefore consider both the economic mechanics of the AMM and the technical risks of the protocol holding or managing the assets.
Understanding AMMs makes aggregation easier An automated market maker replaces buyer-seller matching with smart contracts, pooled liquidity and mathematical pricing rules. But the exact mechanics vary considerably between AMM designs.
Constant product AMMs adjust prices as the ratio between two reserves changes. Stableswap models optimize their curves for assets expected to trade at similar prices. Weighted pools support different asset compositions and reserve weights. Concentrated liquidity changes where LP capital is available along the price curve.
Those differences affect price impact, capital efficiency and LP risk. They also explain why aggregation matters. A token can have liquidity spread across many pools using different designs, and the most efficient route can change with the size of your swap and current pool conditions.
If you want to explore the mechanics from the LP side, read What is a liquidity provider? and the guide to impermanent loss.
FAQWhat is the difference between an AMM and an order book?An order book matches individual buy and sell orders between discrete market participants. An AMM executes trades autonomously against a communal liquidity pool using mathematical pricing formulas.
Why do large swaps experience high price impact on AMMs?AMMs calculate prices using mathematical invariant curves like xy=k. Large transactions deplete a substantial percentage of the pool's token reserves, driving marginal prices higher along the curve during execution.
Can you lose money providing liquidity to an AMM?Liquidity providers face impermanent loss when the relative prices of their deposited assets diverge from their original deposit ratio. Capital may also be exposed to smart contract bugs, exploit vulnerabilities, or low fee yields during stagnant trading periods.
How do DEX aggregators find better rates than individual AMMs?DEX aggregators evaluate prices and pool depths across hundreds of decentralized exchanges simultaneously. Rather than sending an entire trade to a single pool, aggregators split orders across multiple venues to minimize price impact and avoid slippage.
Trade across every major AMM design on the 1inch app.
Disclaimer : This content is for general information purposes only and does not constitute financial, investment, tax, or legal advice and is not a recommendation to buy or sell any particular digital asset or to employ any specific investment strategy.
Safe has moved its transaction-security network out of beta. Safenet Aegis went live in production on October 15, 2026, covering Ethereum Mainnet, Gnosis Chain, and Arbitrum.
The idea is to check a transaction before it executes and, if the user opts in, stop the bad ones onchain. Warning pop-ups are helpful. A contract that refuses to cooperate is more helpful.
The launch came through Safe’s governance structure, with Safe Foundation and SafeDAO steering the rollout. It also introduces paid transaction checks and a fresh round of staking rewards for SAFE holders.
How Safenet Aegis works
The first group of Sentinels includes OpenCover, BlockSecTeam, Candide Labs, and IntentGuard. Each operates independently of the others.
Validators then attest to those evaluations onchain. These validators are governed by SafeDAO, the community body that oversees the protocol.
The final layer is optional. Users can enable a formally verified Safenet Guard on their Safe account, which allows the network’s findings to be enforced directly onchain.
That distinction is the core of the product. Without the Guard, Aegis acts as an advisory service. With it, security goes beyond interface warnings and into the transaction logic itself.
Safe says audits for both the Guard and the staking contracts have been completed. User funds stay non-custodial throughout, so the network reviews transactions without ever taking control of the assets.
Fees, staking, and the beta numbers
The security checks are not a free add-on. Users pay onchain fees for transaction evaluations, and that money goes to the security providers doing the review.
One example given for the fee is 40 USDC.
The production launch follows a six-month beta that concluded in early October 2026. Over that stretch, approximately 4.5 million SAFE tokens were distributed as rewards.
Throughput reached around 100,000 transactions per week during the beta, giving the team a read on how the network behaves under load.
More than 72 million SAFE tokens were staked across roughly 865 participants after the beta ended.
Those participants do not need to do anything to carry their positions forward. Existing stakes transition to the production network without migration, which spares stakers the usual unstake-and-restake routine.
SafeDAO passed SEP 56, approving approximately 7.4 million SAFE from the treasury for a 12-month period that began on October 13, 2026.
The allocation is primarily earmarked for staking rewards. In practice, the DAO is underwriting a year of incentives while the fee side of the network gets established.
Background: from beta experiment to production layer
Integration into Safe{Wallet} is planned for Q4 2026. Until that ships, users looking to use Aegis will need to take the extra step of enabling the Guard themselves.
What this means for SAFE holders and Safe users
The key tension is between subsidized rewards and earned fees. For the next 12 months, SEP 56 money does much of the heavy lifting. The real test is whether paid transaction checks generate enough activity to keep Sentinels and validators engaged once that allocation runs its course.
Pricing will shape that answer. A fee like 40 USDC may be easy to justify for a treasury moving large sums, but smaller users may weigh it differently against the risk they are trying to avoid.
The launch cohort of Sentinels is four names: OpenCover, BlockSecTeam, Candide Labs, and IntentGuard. The model is built on independent judgment, so how that group grows will matter for how credible the network’s verdicts become.
Validators answer to SafeDAO, which ties the network’s reliability to the health of that DAO’s decision-making. That means governance votes now carry operational weight, not just treasury weight.
The planned Safe{Wallet} integration in Q4 2026 could move Aegis from an opt-in tool for security-minded teams to something closer to a default experience.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
The Philadelphia Semiconductor Index is on track to erase more than $2 trillion in market capitalization within seven trading days.
According to market data from BIT (bit.com), the Philadelphia Semiconductor Index is set to lose over $2 trillion in market capitalization within seven trading days.
5 minutes ago
Trump's Artificial Intelligence Task Force will hold a meeting on Thursday.
A spokesperson for the U.S. Federal Trade Commission (FTC) said that Trump's AI Task Force will hold a meeting on Thursday.
5 minutes ago
US stock market opens, Nasdaq falls 1.29%; SK Hynix and SanDisk plunge 6%.
According to market data from BIT (bit.com), at the opening of US stock markets, the Dow Jones Industrial Average rose 0.46%, the S&P 500 fell 0.4%, and the Nasdaq Composite dropped 1.29%. The chip sector has seen four consecutive days of lower opening this week, with SK Hynix (SKHY.O) and SanDisk (SNDK.O) plunging 6%, Micron Technology (MU.O) down 3.9%, Western Digital (WDC.O) falling over 5%, and NVIDIA (NVDA.O) down more than 3%.
5 minutes ago
NeoSoul will launch a dedicated DNA airdrop for the StandX community, with details to be announced after the Token Generation Event (TGE).
According to official announcements, NeoSoul stated it understands the challenges of building a startup in the crypto industry and expressed its support for the StandX team and community. NeoSoul will set up a dedicated DNA token airdrop quota to reward community contributors who have long participated in building StandX. Specific eligibility rules and claim portals will be announced after DNA’s Token Generation Event (TGE). Additionally, NeoSoul said it is willing to communicate with the StandX team to jointly explore community support initiatives.
5 minutes ago
US stocks opened with Neocloud, storage, optical communication, and semiconductor stocks falling across the board, with NBIS and CRWV down more than 7%.
According to market data from BIT (bit.com), Neocloud, storage, optical communication and semiconductor stocks all fell across the board at the opening of the US stock market. Neocloud stocks saw the steepest declines, with Nebius (NBIS) down 7.42%, CoreWeave (CRWV) down 7.05%, Cipher Digital (CIFR) down 6.79% and Core Scientific (CORZ) down 6.59%. Storage stocks trended lower across the board, with SanDisk (SNDK) down 6.13%, SK Hynix (SKHY) down 5.63%, Seagate Technology (STX) down 5.47%, Western Digital (WDC) down 5.36% and Micron Technology (MU) down 4.16%. Optical communication concept stocks declined broadly, with Applied Optoelectronics (AAOI) down 6.90%, Lumentum (LITE) down 5.90%, Ciena (CIEN) down 5.86% and Coherent (COHR) down 5.55%. Semiconductor stocks fell in tandem, with Intel (INTC) down 5.43%, AMD down 5.03%, TSMC (TSM) down 4.07% and NVIDIA (NVDA) down 2.97%.
5 minutes ago
Bitcoin and Ethereum ETFs see massive outflows: $257.7M BTC and $91.19M ETH in 24 hours
Lido has launched direct ETH staking through its interface on Arbitrum, Base, Linea, and Optimism, using Chainlink CCIP to eliminate manual bridging while keeping Ethereum mainnet responsible for staking operations.
Lido Launches Direct ETH Staking on Four Layer-2 Networks
Lido announced the integration on October 15, allowing users to stake ETH directly through its official platform. The service allows for the native support of 4 Ethereum Layer-2 networks, without the need for users to move assets between chains.
Users can now deposit ETH into their existing account via the interface and receive wrapped staked ETH. The token represents their staked position, while its exchange value increases as staking rewards accumulate over time.
Previously, users would need to transfer ETH to the Ethereum mainnet and then transfer their staking tokens back in the future. Lido launched the same staking route functionality via third-party platforms first before launching it inside its own platform.
Chainlink CCIP Handles Cross-Chain ETH Transfers
The staking process involves coordinating transfers between Ethereum and supported networks via Cross-Chain Interoperability Protocol (CCIP) by Chainlink. Users receive wstETH from liquidity pools in the same L2 network where they put ETH.
The system deposits ETH behind the interface, and stakes it on Lido on Ethereum mainnet. The newly minted wstETH is then returned to the network of origin to add to the liquidity pool.
Chainlink price feeds determine conversion rates using Lido’s protocol exchange rate, without relying on exchange market prices. The integration follows Chainlink’s recent launch of CCIP Vault Adapters, which introduced another application for its cross-chain infrastructure.
Lido Maintains Ethereum Staking Fees and Reward Structure
Despite the interface update, Lido continues processing staking transactions through its existing Ethereum mainnet contracts.The protocol retains 10% of staking rewards, leaving the remaining 90% for participating stakers.
Users still pay transaction gas fees on their selected Layer-2 networks during the staking process. Separate funding of contract balances pays for cross-chain costs, which in turn does not take up staking deposits.
The launch follows VanEck’s withdrawal of its proposed Lido staked Ethereum ETF on October 14. The asset manager filed a proposed statement of withdrawal prior to the asset manager obtaining regulatory clearance for the proposed fund.
In October 2024, Lido announced direct staking support for three chains, Arbitrum, Base, and Optimism. Linea was integrated with XSwap, OpenOcean, and Interport in October of 2025.
Turkish outlets say Heart and his wife were taken into custody in Istanbul on Wednesday, though no official has confirmed it and the reported seizure figures differ.
HEX founder Richard Heart was reportedly detained in Istanbul
Posted October 15, 2026 at 7:01 am ET.
Richard Heart, the founder of the HEX, PulseChain and PulseX crypto projects, was taken into custody in Istanbul on Wednesday, according to Turkish media. The daily Sözcü reported that Turkey’s intelligence agency (MIT) and Istanbul police picked him up in a dawn raid on a home in the city’s Beşiktaş district. The Ihlas News Agency (IHA), in a report carried by Daily Sabah, said his wife, identified only as A.K., was detained with him after police kept the address under surveillance.
No statement from Turkish police, prosecutors or ministries could be found as of early Thursday, and neither Heart nor PulseChain has commented publicly. The Turkish reports describe police custody; none has reported a court-ordered arrest, a release or an extradition request.
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
Finland’s Red Notice
Both outlets name him as Richard James Schueler, Heart’s legal name. IHA linked the operation to an Interpol Red Notice issued at Finland’s request. The notice was first reported in December 2024. A Red Notice asks police in other countries to locate and provisionally arrest someone; it is not an arrest warrant, and each country decides whether to act on it.
Finnish authorities remanded Heart in absentia in September 2024 on suspicion of tax evasion between 2020 and 2024 and of assaulting a 16-year-old in February 2021, according to Europol’s most-wanted listing.
Reports Differ on the Seizure
Sözcü, citing broadcaster TV100, put the haul at $4 million in cash and 64 luxury watches, along with jewelry, firearms and crypto mining equipment. Journalist Çağdaş Evren Şenlik wrote on X that officers found $600,000, 24 watches, 20 gold bracelets, three pistols and four rifles. IHA listed phones, laptops, graphics cards, guns, two drones, gold bracelets and cash in several currencies, without totals. No official inventory has been published.
Sözcü said the SEC accuses Heart of embezzling $1.5 billion, and Şenlik wrote that he faces the same accusation in the U.S. When it sued in 2023, the SEC said in a press release that offerings by Heart and three entities he controlled “raised more than $1 billion in crypto assets from investors,” and alleged that he misappropriated at least $12 million. Judge Carol Bagley Amon dismissed the case in February 2025 for lack of jurisdiction, writing that the alleged misappropriation ran through wallets and platforms “none of which were alleged to have any connection with the United States.” The SEC said it would not refile, and the court docket was closed in May 2025.
HEX on Ethereum fell about 32% and PulseX about 36% in the 24 hours to 12:42 a.m. ET Thursday, according to CoinGecko data, while bitcoin fell about 3% and ether about 5%.
Related Listen: The Defense Firm That Hates the Government: How Nader Got Dismissed
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.
Crypto.com launches Predict Pro, a prediction market product, for US users.
Crypto.com Exchange has announced the launch of Predict Pro, a prediction market feature for US users, offering real-time order books, probability charts, risk management, and portfolio trading tools. The feature is provided by Foris DAX, an NFA-registered introducing broker, with trading products being CFTC-regulated prediction contracts supplied by OG.com Markets. Predict Pro supports market, limit, stop-market, stop-limit, and post-only orders, and allows users to combine 2 to 6 predictions into a single position, including same-event parlays, cross-event parlays, and in-play trading. Tradable events cover elections, sports, cryptocurrency prices, Federal Reserve decisions, climate, and cultural events, among others.
7 minutes ago
Driven by news of Stripe and Plasma's partnership to launch a multi-currency stablecoin card, XPL surged more than 6% in the short term.
According to HTX market data, XPL surged more than 6% in a short period following news of Stripe and Plasma’s partnership to launch a multi-currency stablecoin card, and is now trading at $0.08223. Earlier reports noted that Stripe announced a collaboration with Plasma to develop the multi-currency stablecoin card, designed to allow individuals and businesses to spend using currencies already held in their accounts, reducing unnecessary currency conversions and foreign exchange costs. Plasma will serve as a design partner, integrating with Stripe’s stablecoin card infrastructure to enable customers to use their account balances for payments via the multi-currency card. The expanded infrastructure will support fiat currencies including the U.S. dollar, Brazilian real, euro, Mexican peso, and Colombian peso; stablecoins include USDC, OUSD, and eligible stablecoins compliant with the GENIUS Act. Stripe’s stablecoin card service currently covers over 30 countries, with plans to expand to more than 100 countries by 2027.
7 minutes ago
Elon Musk: Maybe I should launch a company to compete with Amazon.
Elon Musk responded on X to a post alleging Amazon was blocking Grok bots from placing orders and urging him to launch X Shop, saying, "Maybe we should start a company to compete with Amazon."
7 minutes ago
Helius CEO Joins NEAR Foundation Board to Contribute to Product Strategy and Governance
NEAR Foundation announced that Mert Mumtaz, CEO of Solana infrastructure firm Helius, has joined the foundation’s board of directors. He will assist in advancing product strategy, ecosystem growth and governance, while supporting NEAR’s expansion into the privacy-focused on-chain market. The board is responsible for overseeing the foundation and its major decisions. Mumtaz will also serve as a judge for the NEAR Hackathon held from November 1 to 14. Helius offers RPC nodes, data feeds, transaction relaying and validator services, with its infrastructure used by teams including Phantom, Jupiter, Coinbase and Bitwise. An early user of NEAR Intents, Mumtaz once referred to the protocol as a "market of markets". According to the NEAR Foundation, NEAR Intents has accumulated over $33 billion in total trading volume, with its privacy-focused total value locked (TVL) exceeding $160 million. Other board members include NEAR co-founder Illia Polosukhin, Anchorage Digital co-founder Diogo Mónica, former NEAR Foundation COO Chris Donovan and NEAR One founder Bowen Wang.
7 minutes ago
Stripe partners with Plasma to develop a multi-currency stablecoin card, aiming to lower cross-border foreign exchange costs.
Stripe announced a partnership with Plasma to develop multi-currency stablecoin cards, designed to enable individuals and businesses to spend using currencies already held in their accounts, reducing unnecessary currency conversions and foreign exchange costs. Plasma will serve as a design partner, integrating with Stripe’s stablecoin card infrastructure to allow customers to use their account balances for payments via multi-currency cards. The expanded infrastructure will support the U.S. dollar, Brazilian real, euro, Mexican peso, and Colombian peso; stablecoins include USDC, OUSD, and eligible stablecoins compliant with the GENIUS Act. Stripe’s stablecoin card service currently covers more than 30 countries, with plans to expand to over 100 countries by 2027. For example, users holding euros will soon be able to spend directly in euros without first converting to U.S. dollars; businesses can issue cards denominated in currencies aligned with their specific spending needs. Stripe also plans to support cardholders in spending from multiple account balances, automatically selecting the appropriate currency at the time of purchase.
7 minutes ago
Following the release of September’s U.S. PPI and retail sales data, U.S. Treasury yields declined across the board.
Following the release of U.S. September PPI and retail sales data, U.S. Treasury yields fell across the board, with long-dated yields posting the steepest declines. The 20-year U.S. Treasury yield traded at 5.434%, down 14.6 basis points (bps) on the day; the 30-year yield stood at 5.385%, down 14.1 bps; the 10-year yield was at 5.054%, down 13.6 bps; and the 5-year yield dropped 11.5 bps.
By making OpenAI models the "native brain" of its agent layer, Atlassian brings the multi-vendor model-routing pattern to the project management stack, grounded in proprietary organizational context.
The Multi-Vendor Collaboration Brain On October 14, 2026, Atlassian and OpenAI announced an expanded partnership, signaling a shift in how agentic workflows integrate with enterprise data. According to vendor-reported information, this collaboration positions OpenAI’s frontier models—specifically the GPT-6 Astra and GPT-5.6 series—as the primary intelligence layer powering agents across the Atlassian ecosystem and Rovo. While this deepens the integration with OpenAI, Atlassian maintains a multi-model stance, continuing to support other providers to ensure flexibility within the developer stack.
The Context Layer: Teamwork Graph For developers and project managers, the effectiveness of an AI agent depends on its access to relevant, real-time data. Rovo functions by combining OpenAI’s intelligence with the Teamwork Graph, which aggregates data from Jira, Confluence, and Loom. By grounding agents in this specific organizational context, the system aims to reduce hallucinations and improve the accuracy of automated tasks. This vendor-reported approach ensures that agents operate with an understanding of project dependencies and historical documentation.
OpenAI at the Core of Rovo The integration makes OpenAI models the native brain of Rovo. Jamil Valliani of Atlassian and Nikunj Handa of OpenAI have highlighted how this synergy allows for more complex, multi-step agentic behaviors. According to vendor-reported statements, the goal is to move beyond simple chat interfaces toward autonomous agents capable of executing workflows across the Atlassian suite. This shift requires developers to consider how their project data is structured, as the quality of the output is directly tied to the clarity of the underlying Teamwork Graph.
Governance in a Heterogeneous Stack Despite the focus on OpenAI, Atlassian has emphasized a commitment to a multi-model environment. As reported by VentureBeat, the company’s strategy involves a significant spend commitment while maintaining the ability to swap or integrate different models. For teams managing complex software lifecycles, this means the infrastructure is designed to avoid vendor lock-in at the model layer, even while leveraging the deep integration with OpenAI’s latest frontier capabilities.
The Rebuilt Bridge: MCP Expansion To facilitate broader interoperability, Atlassian has rebuilt its MCP server. This update is designed to expose organizational context to external AI tools, not just those native to the Atlassian platform. By expanding the scope of the MCP server, Atlassian is providing developers with a standardized way to connect their own custom agents or third-party tools to the data stored within Jira and Confluence. This vendor-reported architectural change is intended to make the enterprise data layer more accessible for specialized agentic applications.
Ethoswarm Dana Ellison works for Forkast.
Minds can also work for you.
Minds are persistent AI beings with instincts, identity, and a job.
Awaken one on Ethoswarm.
Pendle’s newest stablecoin product needed about a day to cross the $15 million mark. The Pendle Ecosystem High Yield USDC vault on Morpho launched on October 14, 2026, and held approximately $15.76 million in deposits by October 15.
The vault advertises a net APY of 8.31% on USDC, a dollar-pegged stablecoin.
What the vault actually does
Depositors hand over USDC. The vault then lends it to borrowers on Morpho who post Pendle Principal Tokens, known as PTs, as collateral.
The vault runs on Ethereum. Its purpose is to supply liquidity across Pendle’s ecosystem while giving depositors a return. That return comes from two sources: interest paid by borrowers and incentives paid in PENDLE tokens.
The 8.31% net APY includes 1.76% in PENDLE rewards. It is calculated after a 10% performance fee on earnings.
How it differs from the original
This is not Pendle’s first USDC vault on Morpho. The existing Pendle Ecosystem USDC vault grew to more than $60 million in deposits by mid-September 2026.
Instead of mirroring the original, the new vault allocates to a wider set of higher-yield PT collateral markets on Morpho. Named examples include PT-reUSD, PT-USD3, and PT-USDat.
Roughly 98.6% of the vault’s TVL sits in the PT-reUSD market, with about $15.54 million lent there.
Roughly 94% of deposited funds are currently withdrawable.
Who is running the show
The vault is co-curated by Pendle and Armitage, the vault curation arm of trading firm Wintermute. On Morpho, curators decide which markets a vault lends into and how much risk it takes on.
The vault includes a 7-day timelock on new user adapters. If curators want to change certain settings, the change cannot happen instantly. Depositors get a week to see it coming and decide whether to stay.
What this means for depositors and DeFi
The 8.31% figure blends lending interest with PENDLE incentives, and part of the return depends on a token whose price can move.
With roughly 98.6% of TVL in one market, the vault’s performance and risk are closely tied to the PT-reUSD collateral type. If the curators begin allocating more to PT-USD3, PT-USDat, or other markets, the risk profile would shift accordingly.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
