Sei spouští Eidos, upgrade storage, který běží přímo v provozu sítě a postupně přesouvá stav EVM do vlastní databáze. Cílem je, aby storage držela krok s Giga a 200 000 transakcemi za sekundu.
TL;DR: Every blockchain node has two jobs: compute what happens next on the chain, and store what has already happened. Storage is a critical bottleneck for all blockchains as they attempt to scale. If storage can't keep pace with the rate at which new transactions are executing, huge problems can occur. Eidos is the upgrade that will take Sei’s storage layer to Giga speed.
What is Sei's Giga Upgrade?Giga is the series of upgrades designed to dramatically improve the Sei blockchain, making it much faster and giving it next-generation features, to make it the optimal onchain environment for trading.
Giga is composed of three tracks of upgrades, one for each layer of the chain. A series of consensus upgrades, beginning with Autobahn, will rebuild how validators agree on what’s true. The Ares Upgrade rebuilds execution, the part that actually runs transactions. Eidos rebuilds storage, the critical part of the chain that stores all the transactions that have happened and allows users and apps to query this data.
Every transaction that a blockchain executes has to be written down, and if the notebook can’t keep up with the pen, the pen’s speed is irrelevant. A chain that executes at 5 gigagas per second while writing to a database designed for an earlier era is a sports car on bicycle wheels.
Eidos exists to fix that. It introduces a new database structure, and implements it onto the chain live, while the blockchain keeps running.
Understanding blockchain storageA blockchain stores multiple things. First, the live state of the network: every account balance, every deployed contract, every value those contracts keep in their storage. Secondly, the historical state: every block ever produced, every transaction inside those blocks, and every receipt recording what each transaction did.
This storage is essential for every aspect of using a blockchain. When you check a balance in your wallet, a node looks it up in state. When a trading app draws a price chart or a block explorer shows last week’s transfers, nodes are reading history.
Each transaction changes some state and appends to history, so a chain processing 200,000 transactions per second is also writing hundreds of thousands of database entries per second, every second, forever.
When a blockchain’s storage can’t keep pace with execution, often the only way to survive is to throw money at the problem. Larger, faster, and more expensive disks can compensate for a slow data layer. But as throughput grows and hardware requirements rise, the cost of running a node swells until most operators can’t afford to run them. Queries about last month slow down the processing of live transactions. Eventually the execution layer, however fast, sits idle waiting for the database to catch up.
Why Sei Giga needs better data validationA blockchain database can’t just store data; it has to be able to verify the data hasn’t been tampered with. The classic tool for this is a Merkle tree: every piece of state gets hashed, hashes get paired and hashed again, and again, until a single root hash fingerprints the entire state of the chain. Anyone can check a value against that root and know it’s genuine.
Because the values are chained together in a tree, updating one account means recomputing every hash on the path from that account up to the root, and each of those recomputations is another disk write. Even worse, the more data stored by the chain, the more expensive each individual update becomes. Because of this, at 200,000 TPS, Merkle trees stop being feasible.
Eidos retires the Merkle tree for Sei’s EVM state. Its replacement, a store called FlatKV, keeps state in a flat key-value layout where one change is one write. A lattice hash (LtHash) maintains a running fingerprint of the entire state that updates in constant time per change, without cascading recomputation. The network keeps its ability to verify everything.
Instead of arranging every value in a tree and hashing a path to the top, the node keeps one fingerprint that individual changes can be added to or subtracted from directly. Update a balance and the node subtracts the old value’s contribution and adds the new one, a fixed amount of work no matter how large the state grows.
What else changes under the hoodRemoving the Merkle tree is the core architectural move, but Eidos is a rebuild of the whole storage stack.
Live state gets its own databaseToday, EVM state shares a single database with everything else on the chain. Under Eidos it moves into its own dedicated store. Reads of history stop competing with live transaction processing, and the chain’s non-EVM modules stop paying write costs for EVM data they never touch. The EVM state split began rolling out in v6.6.
Each workload gets the right engineEvery transaction onchain produces a receipt: a record of what happened, what it cost, and which events it emitted. Each time a wallet shows the confirmation checkmark, an app verifies your swap landed, or a dashboard tallies yesterday’s volume, something is reading receipts. At Giga’s target throughput, Sei would produce 200,000 of them per second.
Blocks and receipts have a peculiar shape as data: written once, never updated, read constantly, and eventually archived. Sei’s new block and receipt stores run on LittDB, an open-source embedded database originally developed by a Sei Labs engineer for exactly this write-once pattern, now integrated into Sei’s node software. LittDB has been clocked at over a gigabyte per second of write throughput while serving roughly 55,000 point reads per second at the same time, and the new receipt store sustained more than 150,000 writes per second, flat, across multi-hour benchmark runs that included garbage collection. That number is a benchmark of the storage engine itself, not a chain TPS figure, so it isn’t comparable to Giga’s 200,000 TPS target.
Old history leaves the nodeWhile the state and recent history a node actually touches stay local, on the fastest storage, older history moves off the node entirely, into archival storage built for capacity rather than speed. Full history stays available to anyone who asks: explorers, indexers, and anyone auditing the chain’s past read from the archive, while the nodes doing real-time work carry only what real-time work needs.
Upgrading storage while the chain stays liveSei already has a live database which holds the entire live state of the network, and the chain on top of it produces a block roughly every 400 milliseconds, around the clock.
The easiest option would be to halt the chain, snapshot everything, migrate, and relaunch. Or ask every node operator to throw away their data and rebuild from scratch. Both approaches are common, and respected networks have used them.
Eidos takes the harder route: the migration runs inside the node while the chain keeps producing blocks. Data moves across in small batches, block by block, with the old and new stores running side by side until the new one has proven itself, and the whole rollout is switched on by governance and reversible by design. It’s also checked at every step: shadow nodes replayed real mainnet traffic against the new stores before rollout, integrity hashes are audited continuously, and in testing, block times stayed essentially unchanged while the migration ran underneath.
The first phase of Eidos reached Sei mainnet with the v6.6 release in August 2026. EVM state began moving into its own database, and a rebuilt pruning path shipped alongside it. That pruning fix is already measurable for operators, reducing a cleanup pass that used to take 8 to 18 minutes down to about five, and keeping nodes within 60 blocks of the chain tip where they used to drift hundreds behind. The larger parts of the Eidos upgrade, such as FlatKV with its lattice hash, the LittDB-backed receipt store, the off-node archive, will arrive in subsequent releases.
What users need to knowUsers and app developers don't have to take any actions. Balances, contracts, and history carry over untouched. Existing RPC endpoints can be used as normal.
If you run a node, the migration guide for RPC operators is already public in the sei-chain repository, with the config flags and the rollback path documented. Longer-term, node operators will be able to run leaner machines. This has long term benefits for the chain, as it will become cheaper to become a Sei node operator.
The third rebuildEidos is the third time Sei has rebuilt its storage layer, and every rebuild has shipped into a network that was already live. SeiDB replaced the original Cosmos storage stack. The state-store split now on mainnet carved EVM data out into its own database. FlatKV, LittDB, and the off-node archive are the third generation, arriving phase by phase.
Giga’s target is 200,000 transactions per second. Eidos will make sure that Sei's storage smoothly keeps pace.
Disclaimer: The roadmap is subject to change based on development progress, market feedback, and other factors. Actual timelines, figures, and outcomes may vary.
SourcesVetted storage-team 1-pager: https://docs.google.com/document/d/1d7rD-KpryLcJ_sqIBLXLDoRV5C-YiK3iyUFoIseRN9k/Public migration guide: https://github.com/sei-protocol/sei-chain/blob/main/docs/migration/giga_store_migration.mdGiga roadmap: https://giga.seilabs.ioSpecs and node docs: https://docs.sei.io/learn/sei-giga-specs and https://docs.sei.io/node/node-operatorsJul 31 announcement post: https://blog.sei.io/ares-and-eidos-the-first-components-of-the-giga-upgrade-will-go-live-in-sei-6-6/LittDB source and license attribution: sei-chain/sei-db/db_engine/litt (originally EigenDA)
$VIRTUAL vzrostl asi o 15 % po sérii oznámení z ekosystému Virtuals Protocol. Strike Robot byl přijat do AWS Global Startup Program a Eastworlds hlásí 200 hodin teleoperace týdně.
The $VIRTUAL token posted a sharp rally of roughly 15%, driven by a cluster of ecosystem announcements from @virtuals_io that lifted sentiment across the project's growing network of AI agent partners.
At the time of writing, $VIRTUAL was trading at $0.6014, up 6.19% on the week. Twenty-four-hour trading volume surged 179.1% to $96.75 million, while market capitalisation stood at $395.68 million.
Strike Robot Enters AWS Global Startup ProgramThe most closely watched announcement came from @StrikeRobot_ai, which confirmed it had been accepted into the AWS Global Startup Program. The program is an invite-only, go-to-market initiative supporting early to mid-stage startups that have raised institutional funding, achieved product-market fit, and are ready to scale. Strike Robot said it met the program's institutional-funding requirement using capital raised through @virtuals_io's Automated Capital Formation module, tying the milestone directly back to the Virtuals Protocol ecosystem.
The admission is a meaningful signal for a project built on a crypto-native launchpad. Accepted startups receive dedicated Partner Development Managers and Partner Solution Architects, with support spanning product development, go-to-market strategy, and co-selling with AWS. For a robotics AI startup that raised through an on-chain mechanism, clearing that bar adds a layer of institutional credibility that is still relatively uncommon in the sector.
Eastworlds Hits 200 Hours of Weekly TeleoperationA second update came from @eastworlds_io, described as the robotics arm of the Virtuals Protocol ecosystem. The project reported teleoperation output of 200 hours per week, a concrete operational metric that gives investors a tangible measure of real-world activity rather than just protocol-level usage figures.
Together, the two announcements reinforced a broader narrative around Virtuals Protocol: that the platform is maturing from a token launchpad into infrastructure supporting deployable AI and robotics applications. The protocol enables users to create, deploy, and monetize AI agents without requiring technical expertise, and tokenizes those agents to allow for co-ownership and revenue-sharing models. The ecosystem has been highlighted for powering over 18,000 AI agents and generating significant agentic GDP, signaling real usage beyond speculative activity.
Whether the price move holds will depend on whether the project can continue converting announcements into measurable adoption. For now, the market appears to be giving Virtuals Protocol the benefit of the doubt.
Sources
AWS Global Startup Program, Amazon Web Services
Virtuals Protocol Project Overview, Messari
Hyperliquid jedná s CFTC a SEC o tom, aby regulované firmy mohly nabízet perpetual futures na jeho blockchainu. Platforma loni vykázala čistý zisk přes 900 milionů USD.
Hyperliquid is reportedly lobbying U.S. regulators to open a pathway for regulated firms to offer perpetual futures on its blockchain, according to a report by The Information on Wednesday.
The news comes as market commentators point to improving fundamentals and institutional accumulation around the HYPE token.
Will HYPE Grab the Perps Market?Hyperliquid is engaging with the CFTC and SEC to allow U.S.-regulated companies to offer perpetual futures that trade and settle on its public blockchain, The Information reported.
The decentralized trading platform currently restricts U.S. users from accessing its services but is reportedly seeking no-action letters or new regulatory guidance that could allow its infrastructure to play a larger role in regulated U.S. markets.
The push comes as Hyperliquid’s underlying business continues to gain traction. The platform reportedly generated more than $900 million in profit last year.
In late July, VanEck’s Matthew Sigel highlighted Hyperliquid as an early leader and an example of crypto-native infrastructure expanding beyond digital assets.
He predicts HYPE to generate $800 million in annualized revenue.
Traders Debate if HYPE Is a BuyCrypto trader Michael van de Poppe highlighted HYPE as an asset worth watching during market weakness, arguing investors should focus on buying dips in assets that are gaining traction and have a strong narrative.
"HYPE has been one of those assets for almost a year," he said.
Arkham Intelligence data points to continued demand from Bitwise clients.
Bitwise-linked ETF clients have purchased more than $5 million worth of HYPE over the past week. The wallets tracked by Arkham have not sold any HYPE since last month and have only accumulated the token during August.
Trader Crypto McKenna sees an improving technical setup, noting that HYPE appears to be establishing a higher low following a deviation below its range low.
He also highlighted the upcoming AQAv2 launch at the end of August and increased fee flexibility for HIP-3 deployers as potential fundamental catalysts.
Altcoin Sherpa is also looking for accumulation opportunities but would prefer a deeper correction. He hopes to build a larger spot position if HYPE falls into the $40s. Currently, the setup does not offer attractive trading opportunities.
He added that the token does not currently offer an especially attractive active trading setup.
Price Action: Hyperliquid Strategies Inc (NASDAQ:PURR) is up 1.5% on the day, the 21shares Hyperliquid ETF (NASDAQ:THYP) is up 2.5%.
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Crypto.com spustila Tokenized Stocks, deriváty sledující cenu zhruba 1 500 amerických akcií a ETF pro uživatele mimo USA. Obchodování běží nonstop a startuje od 1 USD.
Summary Crypto.com launched tokenized derivatives tracking roughly 1,500 US stocks and ETFs for users outside America. The product relies on a MiFID license secured through the acquisition of Foris Capital and custody with Alpaca. Kraken, Binance, Robinhood, OKX and Hyperliquid already run competing tokenized equity products with different structures. Regulators shut down a similar Binance and FTX attempt in 2021 within three months of launch. Crypto.com opened access on Wednesday to a new product line called Tokenized Stocks, a set of derivatives that mirror the price of about 1,500 US-listed equities and exchange-traded funds. The rollout targets users in the European Economic Area and other approved jurisdictions outside the United States, letting them buy fractional exposure to names like Apple, Nvidia and Tesla, as well as commodity funds such as SPDR Gold Shares, starting from $1. The exchange built the offering on a Markets in Financial Instruments Directive license it picked up through its acquisition of Foris Capital, and it settles trades instantly on-chain rather than through the traditional two-day clearing window.
A $1 Token Buys Price Exposure, Not a Share Certificate The product does not hand buyers real shares. Each token is a derivative contract that tracks price movement without transferring legal or beneficial ownership, voting rights or any say in corporate governance. Holders can still receive dividend-equivalent payments that mirror the underlying company’s cash distributions, even though they hold no equity stake. Collateral backing the tokens sits with Alpaca, a US self-clearing broker-dealer that already underpins more than 90% of the tokenized US stock market industry-wide. Depending on where a user is based, the legal issuer is either Foris Capital CY Limited in Cyprus or Foris Capital MU Ltd, and the Cyprus arm operates under supervision from the Cyprus Securities and Exchange Commission.
Trading runs continuously, including weekends, and the promotional fee structure currently sets commissions at zero, though the exchange notes that other platform charges may still apply. CEO Kris Marszalek tied the launch to a $400 million investment from Citadel Securities that valued Crypto.com at $20 billion, framing the funding as proof that markets “shouldn’t have to sleep.”
Crypto.com Tracks Prices, Some Rivals Put the Real Share on Chain Crypto.com’s approach sits on one side of a structural split that now defines the tokenized equity market. Synthetic or derivative models, which Crypto.com and Kraken both use, map the price of a stock without putting the actual security on-chain. Issuer-sponsored models instead aim to register real common shares as blockchain assets, giving holders an actual claim on the company. If an issuer like Crypto.com or Kraken runs into financial trouble, a synthetic-token holder has a claim on collateral held by a custodian like Alpaca, not a direct claim on the underlying shares the way a real shareholder would.
Synthetic · MiFID
Crypto.com
~1,500
stocks and ETFs covered
Collateral held in custody with Alpaca
Token Wrapper
Kraken · xStocks
100+
stocks and ETFs, SPL on Solana
Proprietary Chain
Binance · bStocks
$500M+
market cap
Over 90% of volume trades outside Wall Street hours
Proprietary Wrapper
Robinhood
Arbitrum
EU retail focus
Built for a traditional-broker style interface
Liquidity Integration
OKX
40+
tokenized stocks
Secondary liquidity venue, not the issuer
Synthetic Perps
Hyperliquid · HIP-3
$633B
Q1 2026 trading volume
Hosted synthetic SpaceX trading ahead of its 2026 IPO
BaFin Shut This Down Once Already, in Three Months Flat This is not the industry’s first run at putting Wall Street on-chain. Binance and FTX both launched fractional stock tokens in April 2021, covering names like Tesla, Apple and Coinbase, through partnerships with European firms CM-Equity and Digital Assets AG. Neither exchange filed the securities prospectuses regulators expected, and Germany’s BaFin along with the UK’s Financial Conduct Authority moved quickly. Binance pulled the product just three months after it went live.
The current wave looks different on paper. Crypto.com built its launch around an actual MiFID license and regulated custody, and Kraken’s perpetuals run under similar regulatory cover. BaFin’s 2021 objection centered on the absence of a prospectus, not the token mechanism itself; Crypto.com’s MiFID license and Kraken’s regulated derivatives venue are built to satisfy that specific requirement.
Weekend Token Prices Called 92% of Monday’s Gaps Binance’s own research points to something specific: more than 90% of on-chain bStocks trading volume happens while US markets are shut. The exchange’s data found that weekend token pricing correctly anticipated 92% of the Monday morning gaps that later showed up on Wall Street. On-chain volume peaked between 20:00 and 24:00 ET, the start of the Asian trading day, while activity on Binance itself clustered around the US pre-market open. They are running continuous price discovery on assets that traditional exchanges only reopen five days a week, and traders elsewhere are watching those weekend moves for signals.
Hyperliquid pushes the same idea further. Its Layer-1 chain processes roughly 200,000 actions per second and lets external developers list perpetual contracts on equity indices, commodities and even pre-IPO companies through tools like trade.xyz. Synthetic trading for SpaceX tracked closely with the eventual valuation the company reached at its June 2026 listing, giving retail traders a way to price a private company months before it reached a public exchange. Hyperliquid cleared more than $633 billion in trading volume in the first quarter of 2026 alone and now competes with Binance for the position of the world’s second-largest perpetuals venue by open interest.
A $2.49 Billion Market Now Splits Five Ways Between Rivals The tokenized equity market has grown roughly sixfold over the past year to reach a $2.49 billion valuation, and Citigroup expects the broader tokenized securities category to reach $5.5 trillion by 2030, with $2.6 trillion of that coming from tokenized equities specifically. Crypto.com now competes directly with Kraken, Binance, Robinhood and OKX for retail flow in this category, and each platform is betting on a different structure to win users. Investors comparing these products need to look past headline asset counts and check whether they are buying a synthetic price tracker or something closer to real ownership, since the two carry different risk profiles if a platform runs into trouble. Regulatory scrutiny is also likely to intensify as volumes rise, given how quickly authorities acted the last time exchanges tried this without a full licensing framework behind them.
Hyperliquid míří na americký trh, ale jeho rozhraní zůstává pro uživatele v USA uzavřené. Podle zprávy za 2. čtvrtletí HYPE ve 2. čtvrtletí vzrostl o 79,2 %.
Hyperliquid is turning its attention toward the U.S. market, according to a recent report by The Information.
The push comes at an important moment for the crypto industry. Hyperliquid has grown into one of the largest venues for crypto perpetual futures.
U.S. regulators are simultaneously trying to determine how derivatives, decentralized exchanges and other on-chain financial products should fit into a regulatory system largely designed around centralized intermediaries.
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The question, therefore, is not simply whether Hyperliquid wants to enter the United States. It is whether the existing regulatory framework gives a decentralized protocol a workable way to do so.
U.S. prohibition?In practical terms, Hyperliquid's current trading interface is closed to U.S. users. The Hyperliquid blockchain itself has been declared illegal in the United States.
Hyperliquid is a permissionless blockchain. Its network and smart contracts are distinct from the website interface through which many users access the protocol.
Hyperliquid's terms of use identify people and entities located in or resident in the United States as "Restricted Persons" and prohibit them from using the interface.
Perpetual futures are its most important product. In the U.S., derivatives markets are subject to an extensive regulatory framework that has been developed by the CFTC.
The Hyperliquid Policy Center has made precisely this issue the centerpiece of its Washington strategy. The organization says it is seeking a "clear, regulated path" for Americans to access onchain markets.
The Policy Center was launched in Washington in February 2026 and is led by crypto lawyer Jake Chervinsky.
Hyperliquid's remarkable growth Hyperliquid has plenty of economic reasons to pursue the U.S. after it recorded remarkable growth.
According to the Q2 report cited in the recent report on Hyperliquid, HYPE rose 79.2% during the second quarter.
This is the second consecutive quarter in which HYPE substantially outperformed the broader crypto market.
The platform has become large enough that Washington can no longer simply ignore it.
At the same time, American users remain largely excluded from direct access to the derivatives upstart.
Hyperliquid usiluje o vstup na americký trh, přestože čelí regulačním překážkám. Kvůli souladu s předpisy zatím blokuje uživatele z USA na svém front-endu.
Hyperliquid, a decentralized perpetual futures exchange, is reportedly aiming to expand its operations into the United States despite ongoing regulatory challenges. The exchange, which currently blocks U.S. users from its front-end due to compliance issues, is seeking a path to offer on-chain derivatives within the U.S. market. This development comes amid pressure from established exchanges like CME Group and Intercontinental Exchange (ICE), which have urged U.S. regulators to impose tighter controls on Hyperliquid. The exchange’s policy arm has engaged in discussions with U.S. regulators, including a recent meeting with the SEC’s Crypto Task Force, indicating its intent to navigate the complex regulatory landscape.
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Key Takeaways Hyperliquid’s exploration of a U.S. expansion suggests a strategic initiative to tap into the American market despite existing regulatory barriers. The involvement of regulatory bodies like the SEC indicates that the exchange is actively seeking a compliant path for its services in the U.S. Market pricing suggests a cautious outlook, with the current odds of Hyperliquid reaching $100 by the end of 2026 standing at 13.5% YES. What to Watch Observers will be keen to see how U.S. regulators respond to Hyperliquid’s proposed expansion plans and whether they will require the exchange to adopt new compliance measures. Key developments to watch include any announcements from Hyperliquid regarding partnerships or regulatory approvals that could impact their market trajectory. Changes in the odds for Hyperliquid’s price targets, particularly any significant shifts, may indicate evolving market sentiment in response to these regulatory discussions.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 13.5% — — View market → January 1 2027 4.1% — — View market → January 1 2027 3.1% — — View market → January 1 2027 27.5% — — View market → January 1 2027 8.9% — — View market → January 1 2027 3.4% — — View market →
Pump.fun láká špičkové tradery z FOMO podpisovým bonusem $20 000 a měsíční platbou $30 000 za exkluzivní přechod. Smlouvy vyžadují i uzavření účtů u FOMO a minimální měsíční objem obchodů $25 000.
Pump.fun is writing checks to steal its rival’s best traders. Leaked contract details show the Solana-based memecoin launchpad is offering top traders and key opinion leaders from competitor FOMO a $20,000 signing bonus and $30,000 in monthly payments to switch platforms exclusively.
What the contracts actually require The leaked agreements, which surfaced publicly around August 8, lay out a clear set of obligations for anyone taking the money. Recruits must fully migrate their existing funds and positions to Pump.fun, close their FOMO accounts entirely, and trade exclusively through a new Pump.fun wallet.
There’s also a social media component. Traders are required to link their public X accounts, effectively tying their online identity to the platform. A minimum monthly trading volume of $25,000 is baked into the deal.
The exclusivity clauses raise a separate question. When a trader who makes public recommendations is contractually bound to a single platform, the line between genuine market commentary and paid endorsement gets blurry fast. Legal observers have noted that such recruitment structures are generally permissible within the industry.
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Why Pump.fun is spending aggressively right now The timing isn’t accidental. FOMO has been on a tear, posting six consecutive weeks of all-time high trading volumes exceeding $2 million weekly. The rival platform also briefly overtook Pump.fun in daily fee generation in early August, a metric that tends to reflect genuine user activity rather than just speculative noise.
Pump.fun responded on multiple fronts nearly simultaneously. On August 7, the platform rolled out new interactive social trading features designed to boost daily active users. The recruitment push complements that product update by ensuring the new features have high-profile traders actually using them.
The platform operates a fee-free model for traders, relying instead on a bonding-curve mechanism to drive memecoin launch activity.
There’s also the $PUMP token to consider. Pump.fun has designed its native token to capture half of the protocol’s revenue through buybacks, creating a direct financial link between platform activity and token value. In the month before these contracts leaked, $PUMP had already climbed roughly 87%.
The economics of poaching traders A single top trader costs Pump.fun $20,000 upfront plus $360,000 annually at the $30,000 monthly rate. That’s $380,000 per year per recruit.
Whether the math works depends on retention. If traders take the signing bonus, hit the minimum volume for a few months, and then quietly reduce activity, Pump.fun is left paying premium rates for diminishing returns. The $25,000 monthly volume floor provides some protection, but it’s a low bar for someone earning $30,000 per month in guaranteed compensation.
What this means for the memecoin platform wars For $PUMP token holders, the recruitment push is a double-edged sword. More high-profile traders should mean more volume, which means more revenue, which means more buybacks supporting the token price. But the cost of acquisition eats into the revenue available for those buybacks. An 87% price increase in a single month already prices in a lot of optimism.
Traders considering the offer face their own calculation: guaranteed income versus the reputational risk of being publicly tied to a single platform through an exclusivity deal. Signing a contract that requires closing rival accounts and linking your X profile isn’t exactly a subtle arrangement.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Podíl pump.fun na poplatcích launchpadů se po červencovém propadu z 27 % vrátil na 51,7 % v týdnu do 11. srpna. Za 30 dní do 11. srpna mu poplatky vzrostly o 30 % na 31,83 milionu USD.
Two launchpads on Robinhood Chain cut pump.fun's share of launchpad fees from 80% to 27% in two weeks. Pump.fun's fees are up 30% over 30 days anyway, because the category grew 77% around it. Memecoin prices did not participate.
A wave of launchpads on Robinhood Chain took most of pump.fun's share of the token-launch business in the first two weeks of July. Still, pump.fun is now earning more per week than before they arrived.
The launchpad business grew faster than pump.fun lost ground in it. Weekly fees across the launchpads DefiLlama reports went from about $7 million in late June to roughly $18 million by mid-July and have stayed there, while pump.fun's own weekly take climbed to a 90-day high. Growth in the memecoin space came almost entirely from Robinhood Chain, whose mainnet opened six weeks ago, and it has since begun to reverse.
Fees Nearly DoubledLaunchpads collected $75.39 million in fees over the 30 days to Aug. 11, against $42.53 million in the 30 days before that, June 13 to July 12, a 77% increase, according to The Defiant's calculation from DefiLlama's daily fee data. The comparison covers all 125 launchpads for which DefiLlama reports fees.
Pump.fun took $31.83 million of the July 13 to Aug. 11 total, against $24.45 million in the June 13 to July 12 window, a 30% increase. Its share of the category fell to 42.2% from 57.5%.
The weekly series is sharper. In the week to June 30, pump.fun collected $5.63 million of the category's $7.10 million, or 79.4%. In the week to July 14, it collected $5 million of $18.71 million — 26.7%. In the week to Aug. 11 it collected $9.21 million of $17.83 million, or 51.7%, its largest weekly haul in 90 days.
Two products caused the July collapse in share.
The first was NOXA, a launchpad and DEX that reached Robinhood Chain before the chain reached the public. Its Robinhood Chain factory went live on June 16, two weeks before the chain's public mainnet, and earned a few hundred to a few thousand dollars a day through the end of the month. Fees crossed $99,000 on July 1, ran between $24,000 and $71,000 for the next week, then jumped to $2.22 million on July 8. They peaked at $2.33 million on July 11. NOXA charged a 1% swap fee, so that implies roughly $233 million of trading in a day on a chain then 10 days old.
That day NOXA switched its own launchpad off, and said the reason was that too many people were using it. On July 11, nine seconds after the last token launched through it, the deployer wallet dev.noxa.eth called setLaunchEnabled(false) on the launch factory, according to Robinhood Chain's Blockscout explorer. About a minute later its account posted: "you folks have been vocal about the constant new token spam, vamps, and we identified some bots spamming and copying new tokens every hour." It called the shutdown temporary. "we are finding a workaround for this issue and we have decided to temporarily disable new launches while we work."
Every launch attempted since has reverted.
The second was Pons. Ozzy, the developer who posts as @MEADGod, deployed its first factory on July 13, two days after NOXA stopped accepting launches. "I built a launchpad for Robinhood Chain because the existing ones were extracting without taking care of their communities," he wrote 10 minutes before the second deployment.
Pons charges the same 1% pool fee NOXA charged, plus a 0.0005 ETH launch fee, and splits the pool fee 70% to the creator and 30% to the protocol for tokens launched through the current factory, per its documentation. The 11 hours of launches that went through the first factory keep a 90/10 split in the creator's favor. Eighty percent of the protocol's share funds a PONS buyback and burn. Pons has produced $19.80 million in fees across its two versions in 30 days, more than every launchpad except pump.fun.
Pons Peaked In JulyPons' first version peaked at $1.54 million of fees on July 21 and took about $340,000 on Aug. 11, a decline of 78%. It has generated $18.89 million all-time and $5.03 million of protocol revenue, per DefiLlama.
Ozzy deployed a second version on Aug. 3, and it began recording fees the next day. Contract reads against the PonsV2LaunchFactory return a 1% curve fee, a 1% post-graduation fee, a 30% protocol share, an optional creator tax capped at 10%, and a 99% opening buy tax that decays over three seconds. Version two spends 50% of the creator's residual buying back the launched token rather than PONS, and vests what it buys over five years instead of burning it. It took about $148,000 in fees on Aug. 12.
Uniswap Takes No CutUniswap Labs opened pools.trade on Aug. 5 on the same chain, with no launchpad fee at all. Each token opens a Uniswap v4 pool with a 0.25% LP fee that autocompounds into a position the creator cannot withdraw; creators can switch on a cut of 0.05% of those 25 basis points. Uniswap's announcement calls that "a fraction of the standard ~1% on other launchpads."
Pump.fun's own fee schedule is the standard Uniswap is pricing against: 1.25% on the bonding curve, split 0.95% to the protocol and 0.300% to the creator. Creating a coin is free; graduating one to PumpSwap costs 0.015 SOL, after which a tiered schedule takes over and the total fee falls as the token's market capitalization rises.
Pools took $266,668 in fees on launch day, its highest since. By Aug. 11 that was $36,390, down 86%. Its 30-day total is $806,000, against $19.80 million for Pons. On Aug. 11 the first version of Pons alone took $343,432, nine times what Pools did. DefiLlama has recorded fees for the Pools contracts since July 31, five days before the interface opened. The Defiant reported that Pools out-launched Pons on its first day with 10,506 tokens against 7,210, and that Pools’ flagship token FRONG was minted six days before the product opened.
PONS has risen 160% in the week since. It traded at $0.05072 at 17:20 UTC on Aug. 12, with a market capitalization of $36.9 million, up 19.3% over 24 hours and 23.6% below its July 27 record, according to CoinGecko. UNI traded at $3.52, down 14.5% on the week.
Four days before launching a competitor on Robinhood Chain, Uniswap's account replied to Pons' with "Powered by Uniswap". Neither Ozzy nor the Pons account has posted about pools.trade.
Every Solana Rival ShrankSolana-based launchpads competing with pump.fun are smaller now than they were a month ago. Trading fees paid by users fell 65% on Bags, 56% on Meteora's Dynamic Bonding Curve, 44% on BONK.fun and 85% on EasyA Kickstart. Four.meme on BNB Chain fell 23%. Each falls by within a point of the same amount measured on protocol revenue instead, and SOL and BNB were flat between the two windows, so the declines are activity rather than price.
Their launch counts fell with them. Over the 30 days to Aug. 10, Bags created 923 tokens, down 78.5%; LetsBonk 4,039, down 34.3%; Jupiter Studio 347, down 45.5%, according to Dune data published by The Block. Pump.fun created 872,202, up 3%, and 99.3% of all tokens launched on Solana.
Growth outside pump.fun came from chains pump.fun does not operate on. Flap.sh on BNB Chain grew 209% to $5.51 million. The o1 Launchpad, which runs mostly on Base, grew from $12,698 to $982,481 after its July 3 launch. The four largest new entrants of the period — Pons, StonkBrokers, LetsCash and Uniswap Pools — all launched on Robinhood Chain.
Robinhood Chain Caught SolanaLaunchpad fees on Solana and on Robinhood Chain over the 30 days to Aug. 11 were $33.61 million and $33.49 million. Solana's grew 18%; Robinhood Chain's grew 236% against a prior 30 days in which it had produced $9.97 million, its own first month. BNB Chain took $6.62 million, up 88%. Base took $1.44 million.
Robinhood Chain's weekly launchpad fees peaked at $11.95 million in the week to July 14 and were $7.07 million in the week to Aug. 11. Solana's ran to $9.59 million, its highest of the 90-day window. On the narrow measure of who is taking money from token launches, Solana is winning again.
Robinhood Chain generated $100.2 million in application fees over 30 days against Solana's $233 million and Base's $39.6 million, per DefiLlama. Over the 30 days to Aug. 12 it did $16.58 billion in DEX volume against $4.49 billion the month before. Solana did $46.41 billion over the same window, down 25%. The Defiant reported in July that Robinhood Chain overtook Base on daily active users three weeks after launch.
The Fight For The TraderOne of the fastest-growing competitors for pump.fun's users on Solana does not launch tokens at all.
FOMO, a social trading app built by FOMO Labs, took $9.76 million in fees over the 30 days to Aug. 11, up 172% from $3.58 million in the 30 days before that. Its revenue over the seven days to Aug. 11 was $3.01 million, more than double the $1.34 million it made in the week to July 11, and above Phantom's $1.51 million and Jupiter's $0.96 million over the same week. Its daily revenue record, $544,444, was set on Aug. 6.
FOMO charges "a minimum fee of 0.50% per transaction (subject to a minimum fee of $0.95 per transaction)," according to its terms of service. It sells copy-trading, a leaderboard, and Apple Pay onboarding. It raised a $75 million Series B led by Index Ventures in June, and says more than 625,000 people have joined and traded over $4 billion. It has no token and no launchpad.
The competition pump.fun faces on Solana is now for the trade rather than the mint, and pump.fun has answered by widening its own app. On July 8 it made Robinhood Chain tokens tradable inside the pump.fun app with no bridging, which The Defiant covered as CASHCAT trading built. Alon Cohen, the pump.fun co-founder who posts as @a1lon9, wrote that "the pump fun app is not just for pump fun coins, it covers all of your crosschain trading."
Fewer Coins, Better OddsThe share of pump.fun tokens that graduate from the bonding curve averaged 2.82% in the first 11 days of August and 2.55% in July, against 0.86% in June and 0.62% in September 2025, per Dune data published by The Block. Launches rose over the same stretch, ruling out a shrinking denominator.
Pump.fun has taken $1.17 billion in fees and $1.083 billion in revenue since March 2024. In April it committed half of revenue to buying back and burning PUMP for a year, after burning roughly $370 million of previously repurchased tokens, about 36% of circulating supply at the time. DefiLlama has attributed $17.9 million of revenue to holders over the past 30 days.
Memecoins Did Not Come BackNone of this reached memecoin prices.
The memecoin sector was worth $25.15 billion on Aug. 12, according to CoinGecko, or 1.11% of the $2.27 trillion crypto market. CoinGecko's own research puts the sector's peak at $150.6 billion in December 2024. The sector is 83% below that. It is roughly flat over 30 days and down about a third over 90, by The Defiant's calculation from CoinGecko market-cap history for the category's 16 largest constituents, which hold 80% of its value.
Of the 20 largest memecoins excluding wrapped duplicates, seven are up over 30 days. BONK is down 42%, SPX6900 down 15%, FLOKI down 7%, TRUMP down 7%, WIF down 7%, FARTCOIN down 6%, DOGE down 2%. Across the 5,774 memecoins CoinGecko prices with a market capitalization, 34% are higher than a month ago and the median one sits 99% below its record, by The Defiant's count.
The exception is PUMP, up 83% over 30 days to $0.00273 and a $1.07 billion market capitalization, per CoinGecko. It remains 69% below its September 2025 high. It is the token of the business this story is about, with buybacks funded from that business's revenue.
The launch business is bigger, better-monetized and more contested than it was in June. The sector its output belongs to is worth 83% less than at its peak.
Zakladatelé Boltz odstupují a nejmenovaná skupina veteránů Bitcoinu přebírá pozastavenou bitcoinovou swapovou službu. Společnost mezitím stále řeší zranitelnosti po útocích, které jí způsobily ztráty.
The service remains offline while incoming operators work to fix vulnerabilities; Boltz said attacks caused losses to the company.
Boltz’s original founders have stepped down, and an unnamed group of “veteran Bitcoiners” has agreed to take over the suspended Bitcoin swap service, the company said Wednesday.
The incoming operators will provide capital and engineering resources, while work to find and fix vulnerabilities is underway, according to Boltz. The company said it was withholding the group’s names for now and that the goal was to restore swaps “as soon as possible.”
All original founders left the company effective immediately and will have no formal or authoritative role in the project, Boltz said. Any future participation by them in its open-source software would be voluntary.
Boltz said it suspended the service on Aug. 3 after AI-assisted attackers targeted it with increasing frequency, intensity and sophistication over several months. The company said several attacks succeeded and caused losses, but that user funds were never at risk because the service is non-custodial.
In its Aug. 3 outage notice, Boltz said attackers were iterating faster than its team could find and patch flaws. On Wednesday, it described itself as a bootstrapped five-person startup that lacked the resources to withstand the attacks over the long term.
Swaps Remain OfflineAs of Wednesday, the Boltz web app still displayed “Swap Services Disabled.” The outage notice said the API remained available for cooperative refunds and that unilateral refunds did not depend on Boltz infrastructure. Boltz also said its support team remained reachable.
Boltz’s API documentation says clients use its REST API to query supported pairs and to create and monitor swaps. Its official software supports swaps involving Lightning, bitcoin and Liquid bitcoin; a broader reference library also lists RBTC, WBTC, USDT and USDC among supported currencies.
The documentation lists Aqua Wallet, Bull Bitcoin Mobile, Klever Wallet and Misty Breez as users of Boltz-related libraries. New swaps remained unavailable at the reporting cutoff.
Americké spotové Bitcoin ETF za týden pohltily asi 13 300 BTC, tedy více než čtyřnásobek nově vytěžených mincí. Přesto cenu brzdil prodejní tlak, včetně prodeje 1 638 BTC společností Strategy.
U.S. spot Bitcoin ETFs absorbed about 13,300 BTC last week, more than four times the roughly 3,150 BTC newly created by the network.
Bitcoin moved toward the top of its range last week as institutional demand through U.S. spot ETFs strengthened. Cooler employment data reduced expectations for an immediate Federal Reserve rate hike, but persistent selling pressure kept the move contained.
The stronger ETF demand was reflected in $865.3 million of net inflows across five straight sessions, the funds’ strongest weekly showing since April. According to a recent Bitfinex Alpha report, the funds absorbed about 13,300 BTC during the period. That was more than four times the roughly 3,150 BTC newly created by the network.
ETF Inflows Return, But Sellers Push Back BlackRock’s IBIT and Fidelity’s FBTC accounted for much of the ETF activity. Ether-focused ETFs also recorded $243.7 million in inflows, extending their weekly streak and showing that demand was not limited to Bitcoin.
The renewed demand came as broader risk assets also moved higher amid easing tensions and falling oil prices. The S&P 500 rose 3.58% for the week, while Bitcoin gained slightly more than 2%, indicating that other sources of supply continued to weigh on its price.
One notable source of that supply came from Strategy, which disclosed the sale of 1,638 BTC for approximately $104.7 million. The company sold the coins at an average price of about $63,957 and said it would use the proceeds for preferred dividends and a discounted share repurchase.
Strategy’s sale adds to a broader supply overhang visible on-chain around Bitcoin’s current trading range. An estimated 1.79 million BTC have cost bases between $62,000 and $65,000, creating potential selling pressure as the price moves through the band.
Why the Macro Picture Remains Mixed U.S. labor data added to the macro backdrop, with July payrolls falling by 23,000 and earlier figures revised lower. The three-month average job gain dropped to about 20,000, while unemployment reached 4.1% as participation declined.
You may also like: Bitcoin Rebound Faces Risk as Futures Demand Outpaces Spot Buying: Analysts Only 90 Bitcoin Wallets Hold 10K+ BTC: And That Number Just Hit a 6-Month High BTC Price Drops Below $64K as Peter Schiff Urges Investors to Sell Bitcoin Initial jobless claims remained low, indicating that the labor market was cooling rather than collapsing. Futures markets lowered the probability of a September rate hike to 43.9%, while Treasury yields and the dollar eased.
However, long-term borrowing costs stayed high, with the 30-year Treasury yield above 5.2% amid inflation concerns and heavy government borrowing. Bitfinex said Bitcoin could break above $65,000 if ETF demand remains strong while inflation and long-term yields ease.
Bank of Montreal ve svém posledním hlášení 13F-HR zveřejnila expozici vůči XRP přes ETF. V portfoliu za více než 303 miliard USD držela 323 akcií Rex Osprey XRP ETF a 20 akcií ProShares Ultra XRP ETF.
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Canada's second-largest bank, Bank of Montreal (BMO), has disclosed positions in XRP-focused financial vehicles. The information appears in its latest quarterly Form 13F-HR filing submitted to the U.S. Securities and Exchange Commission (SEC).
The new filing officially confirms the presence of XRP within BMO's massive investment portfolio, whose total value exceeded $303 billion at the end of June 2026. Specifically, the bank's reportable positions include 323 shares of the Rex Osprey XRP ETF and 20 shares of the ProShares Ultra XRP ETF.
Text file showing XRP ETF from Rex Osprey on Bank of Montreal's balance sheet, Source: Form 13F-HR filingThe bank did not purchase tokens directly on exchanges. Instead, it used regulated U.S. infrastructure in the form of spot and derivatives-based ETF products, allowing it to integrate the volatile token into a giant portfolio within a familiar legal framework and without direct custody risks.
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For Canada's banking sector, this is becoming a systemic trend. Earlier in the same reporting period, National Bank of Canada disclosed a holding of 3,848 shares in the Bitwise XRP ETF, worth approximately $330,000.
Conservative capital has effectively developed a single playbook: entering the cryptocurrency market selectively and through transparent funds.
New force behind institutional XRP accumulationAt the same time, 13F filings revealed a "changing of the guard" among XRP holders. Major first-wave players led by Goldman Sachs, which held positions worth more than $150 million around the turn of 2025–2026, had reduced or fully exited them by the summer, locking in profits.
However, they were replaced by a group of midsize asset managers and family offices, including Arax Advisory Partners, Gerber, Vista Finance and Gallacher Capital.
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These new investors are taking a more flexible approach, splitting capital between traditional spot funds, such as the Franklin XRP Trust and Bitwise, and short-term leveraged instruments such as the ProShares Ultra XRP ETF.
Because 13F filings are published with a 45-day delay, they provide only an interim snapshot. Nevertheless, BMO's filing officially confirms that XRP is now on another top bank's balance sheet.
Ripple může pokračovat v institucionální expanzi i přes další zpoždění amerického CLARITY Act. Firma už má podmíněně schválenou národní trust bank charter od OCC.
Ripple could move ahead with its institutional strategy even as the CLARITY Act faces fresh delays in the US Senate, according to leading crypto researcher SMOKE. SMOKE emphasized that while ongoing regulatory uncertainty poses challenges for digital assets, Ripple’s expansion need not remain on hold.
Alternative regulatory pathwaysThe CLARITY Act is a proposed bill that would create comprehensive digital asset regulations in the US, including clearer guidance on token classification and expanded federal oversight. Although such legislation could offer crucial certainty to the entire crypto industry, analysts point out that it is not the exclusive path to regulatory legitimacy for blockchain firms.
Ripple, a US-based blockchain payments company best known for its XRP token, has already secured a conditional national trust bank charter from the Office of the Comptroller of the Currency (OCC). The OCC granted this approval in December 2025, paving the way for Ripple to potentially operate as a federally supervised trust bank.
Mini dictionary: Office of the Comptroller of the Currency (OCC), a US federal agency that supervises and regulates national banks and federal savings associations, ensuring their soundness and compliance with federal laws.
A federally licensed trust bank structure could position Ripple more strongly with regulated financial businesses. This development could be especially relevant for institutional custody, stablecoin issuance, and RLUSD reserve management—key areas for the company’s growth outside traditional payments.
Conditional progress and broader industry impactSMOKE maintains that if Congress continues to stall on the CLARITY Act, Ripple’s conditional OCC charter can still serve as an important avenue for regulatory advancement. However, the approval remains provisional, meaning Ripple does not yet function as a fully established national bank. Moreover, OCC oversight applies specifically to Ripple’s trust bank, and cannot replace broad industrywide rules that only federal legislation can deliver.
Both the CLARITY Act and the OCC charter could ultimately complement each other. The former would address digital asset regulation at the national level, while the latter offers Ripple a firm-specific regulatory path. Ripple could stand to benefit if both initiatives move forward, gaining both market clarity and an upgraded regulatory infrastructure.
InitiativeScopeStatusPotential Benefit for RippleCLARITY ActAll US digital asset companiesDelayed in US SenateClear federal rules for industryOCC CharterRipple-specificConditionally approved (Dec 2025)Federal trust bank operationsUS regulatory outlook and ongoing expansionMeanwhile, the US Securities and Exchange Commission is evaluating new regulatory strategies for digital assets. Lawmakers are expected to revisit the CLARITY Act after the Congressional recess in August, but prospects for swift passage remain uncertain as attention turns to September.
SMOKE describes Ripple’s regulatory strategy as multi-pronged, arguing that the company can keep building across payments, stablecoins, tokenization, and custody, regardless of congressional delays.
Despite legislative uncertainty, XRP adoption and Ripple’s infrastructure development can continue. The company’s expansion in institutional sectors and cross-border transactions could drive new opportunities for both XRP and the XRP Ledger network.
Ripple’s path is not contingent on the CLARITY Act passing. Should federal crypto legislation advance, Ripple could eventually benefit from having both a broader regulatory framework and its own bank charter. Until then, the company can pursue its ambitions and the use of XRP does not need to pause.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ripple má ve Velké Británii autorizaci FCA, což může podpořit širší tokenizaci zlata na XRP Ledgeru. Assetiko už na síti spustilo zajištěný pool v hodnotě 3,08 milionu USD.
Tokenizing precious metals on public blockchains has gained momentum in 2026. Ripple‘s XRP Ledger, known for its speed and cost-effectiveness in cross-border payments, was an early entrant in this trend. In 2024, Meld Gold, a specialist in digital gold products, introduced the first batch of tokenized gold shares on the XRP Ledger. Despite this innovation, the amount of gold involved remains modest, with about 1,000 ounces accounting for a few million dollars in assets.
Assetiko expands XRP Ledger tokenizationFollowing Meld Gold’s initiative, Assetiko, a digital asset tokenization platform with a larger gold reserve, implemented a similar strategy. The company released approximately 1,524 certified ounces of gold, establishing an XRP-based collateral pool valued at $3.08 million. Assetiko’s move signaled an ambition for larger-scale tokenization, raising the prospect of multi-billion dollar on-chain gold reserves if broader institutional adoption occurs within the UK.
Crypto analyst SMQKE examined this dynamic and highlighted the connection between ongoing tokenization efforts and new regulatory developments in the UK. SMQKE stated on X that XRP Ledger has the capabilities to tokenize gold and emphasized that Ripple operates as an FCA-authorized fintech firm in the country.
SMQKE observed that Ripple holds formal FCA authorization in the UK, which enables XRP Ledger to potentially support large-scale gold tokenization projects within the United Kingdom’s financial system.
Mini dictionary: FCA (Financial Conduct Authority), the financial regulatory body in the United Kingdom, oversees the conduct of financial services firms and markets to ensure integrity and protect consumers.
Potential UK gold market transformationThe United Kingdom’s Financial Conduct Authority reportedly is considering plans to allow over 70% of the country’s gold reserves to be moved on-chain. The objective is to strengthen London’s position in global gold trading and respond to increased competition from markets in Shanghai and Hong Kong. If the FCA advances this initiative and leverages the XRP Ledger, tokenization efforts could scale from millions to billions of dollars, fundamentally altering gold reserve management in the region.
A decision by the UK to deploy a large portion of its gold reserves on-chain would mark a major institutional endorsement for XRP Ledger and the broader blockchain-based asset tokenization sector. The integration of gold tokenization infrastructure is projected to move significant capital into the digital asset space, making practical factors such as user adoption and operational scalability the next hurdles for progress.
ProjectGold Tokenized (ounces)ValueBase TechnologyMeld Gold~1,000A few million USDXRP LedgerAssetiko1,524$3.08 millionXRP LedgerPotential UK FCA InitiativeOver 70% of UK gold reservesBillions USD (projected)XRP Ledger (proposed)Ripple advances UK strategy after regulatory approvalRipple, a San Francisco-based payments technology company, has recently strengthened its regulatory position in the UK. The company secured an Electronic Money Institution (EMI) license and received registration as a cryptoasset business, updating its compliance with the latest UK financial services framework. These regulatory clearances have enabled Ripple to expand its payment operations inside the UK market.
With established regulatory backing, Ripple is positioned to support a potential transition toward tokenized assets in the UK. As regulatory and technical questions give way to considerations of demand, market adoption will determine the pace and scale of blockchain-based gold reserves in the United Kingdom.
Ripple’s recent regulatory approvals have paved the way for integrated growth of payment services and asset tokenization initiatives across the UK financial sector.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Počet peněženek s více než 1 milionem XRP vzrostl za poslední tři měsíce o 32, i když tržní kapitalizace sítě klesla o 29 %. XRP Ledger zároveň hostí přes 212 milionů USD v tokenizovaných amerických státních dluhopisech.
The XRP Ledger is drawing renewed attention from major investors, as institutional activity grows despite broader market weakness. Data from blockchain analytics firm Santiment Intelligence revealed that the number of wallets holding over 1 million XRP increased by 32 in the past three months, even as the network’s total market capitalization contracted by 29% during the same period.
Whale accumulation defies market downturnThis divergence between wallet growth and declining market cap suggests that some large holders are actively accumulating XRP, potentially taking advantage of lower prices while the broader market trends downward. Such accumulation by major investors can often precede renewed market interest or signal confidence in the asset’s long-term prospects.
XRP’s price performance over the summer showed relatively limited gains. However, strategic developments in Ripple’s ecosystem may be shaping the asset’s future narrative. Ripple, the technology company behind the XRP Ledger, is recognized for its global payment network and ongoing expansion into blockchain products targeting financial institutions. The firm is advancing its stablecoin, custody, and tokenization services, which some analysts consider key drivers for future adoption.
XRP Ledger is seeing ongoing accumulation of large wallets, with over 32 new million-XRP holders emerging in the past three months, despite a 29% drop in total market value.
The ongoing growth in the number of high-balance wallets is closely watched by market participants aiming to identify the next potential move for XRP. This trend could influence trading strategies and investment decisions as sentiment shifts in the digital asset market.
Institutional adoption and tokenized TreasuriesWithin the XRP Ledger ecosystem, RLUSD has established itself as a notable institutional stablecoin. Ripple continues to broaden its payments infrastructure, offering enterprise-level custody and advancing tokenization initiatives designed to bridge traditional finance into blockchain-based systems. These efforts are increasing blockchain utility and positioning the XRP Ledger as a potential settlement layer for large-scale financial institutions.
One of the most significant institutional moves includes the integration of tokenized US Treasuries on the XRP Ledger. BlackRock, the world’s largest asset manager, has positioned tokenization at the forefront of financial innovation. CEO Larry Fink recently described tokenization as “the next generation for markets.” This statement aligns with the ongoing rollout of tokenized Treasury products by companies such as Ondo Finance on XRPL.
Ondo Finance, a blockchain firm specializing in institutional DeFi solutions, has issued the OUSG token on XRP Ledger, providing on-chain access to US Treasury assets. These assets are secured through the BlackRock BUIDL fund, bringing approximately $212 million in tokenized Treasuries onto the network.
Mini dictionary: Ondo Finance, a company providing decentralized financial tools for institutions, enables access to traditional assets like US Treasuries on blockchain networks through tokenization.
BlackRock’s CEO Larry Fink refers to tokenization as a transformative step for markets, as XRP Ledger already hosts over $212 million in tokenized Treasuries through projects like Ondo Finance’s OUSG.
This milestone signals XRP Ledger’s capacity to support asset tokenization at scale, offering rapid settlement, continuous availability, and compliance-focused infrastructure that appeals to institutions looking to bridge traditional assets onto decentralized platforms.
XRP Ledger’s institutional story builds momentumAs more companies seek efficient blockchain-based settlement solutions, tokenized Treasury products could become a key link connecting traditional finance and decentralized markets. While BlackRock and other major traditional players articulate their vision for the future, XRP Ledger is already implementing solutions that demonstrate the practical use of tokenized assets.
Market observers suggest that continued accumulation by large holders, increased adoption of Ripple’s payment technology, and growing tokenization activity will reinforce the narrative around XRP Ledger as a critical settlement layer for institutions.
However, the trajectory of XRP’s price will likely depend on whether sustained buying momentum emerges. If large-scale buying gains pace, XRP could begin to recover, but increased selling pressure may continue to delay any substantial upward movement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Circle National Trust custodies the backing, while published Bitcoin addresses and Chainlink Proof of Reserve provide onchain visibility; Arc support remains forthcoming.
Circle renewed its push for cirBTC as neutral institutional collateral in an Aug. 12 post, but the product is not a new launch. It has been live on Ethereum since June 8 and had only about 40 tokens outstanding at the time of review, compared with more than 116,000 WBTC and 97,000 cbBTC.
cirBTC exists onchain and can be minted and redeemed by eligible institutional participants, but distribution remains limited. An Etherscan page for the contract showed a maximum total supply of 40.01955869 cirBTC and 11 holder addresses. CoinGecko labels the asset “preview only” and says it is unavailable on the centralized and decentralized exchanges it tracks.
Circle says Circle Mint provides the institutional workflow for minting and redeeming cirBTC. Ethereum is currently the only live chain Circle identifies for the token; Arc is the next named deployment, with broader multichain support planned.
How the Backing WorkscirBTC is issued by Circle International Bermuda Limited, which Circle identifies as a Class F digital asset business regulated by the Bermuda Monetary Authority. The underlying bitcoin is held through Circle’s Bermuda affiliate and custodied by Circle National Trust for the exclusive benefit of cirBTC holders, according to Circle. The company describes Circle National Trust as a federally chartered national trust bank and qualified custodian supervised by the Office of the Comptroller of the Currency.
Circle’s June launch post also said the underlying BTC is segregated from the company’s corporate assets.
A Circle reserve dashboard timestamped Aug. 11 at 8 a.m. showed 40.02159077 cirBTC in supply against 42.5070808 BTC in reserves. The dashboard lists the BTC reserve addresses and their individual balances, allowing counterparties to inspect the holdings on the Bitcoin blockchain.
Circle says cirBTC uses Chainlink Proof of Reserve rather than a monthly attestation model. Chainlink describes the system as publishing verified reserve data onchain so users and protocols can monitor whether tokenized assets remain collateralized.
Circle’s neutrality claim is commercial rather than a claim of decentralized issuance. The company defines neutrality as not operating a competing centralized exchange, decentralized exchange or lending protocol. Minting and redemption run through Circle Mint, while Etherscan identifies the cirBTC token as a proxy contract.
A Long Way From WBTC and cbBTCCoinGecko put WBTC at 116,132 tokens in circulation and a $7.362 billion market capitalization at the time of review. Coinbase Wrapped BTC had 97,231 tokens in circulation and a $6.162 billion market capitalization.
The incumbents also have broader chain footprints. WBTC’s official site identifies Ethereum, Solana, Tron, BNB Chain, Base, Kava and Osmosis as native networks. CoinGecko lists cbBTC deployments on Ethereum, Base, Monad, Solana and Arbitrum.
cirBTC, by comparison, does not yet have a tracked CoinGecko price or market capitalization. For now, Ethereum is the only live chain Circle identifies, while Arc support is “coming soon,” subject to applicable regulatory approvals.
Faster consensus, even under load (CAP-83)Every few seconds, validators on the Stellar network agree on the next ledger. Today, part of that process requires validators to receive a full transaction set before they can make progress—and sharing those transaction sets across the network takes time.
CAP-83 lets validators begin voting before the transaction set has fully arrived, and gives them a clean, explicit way to drop a transaction set that is late or invalid instead of stalling while they wait for it. In practice that means consensus keeps moving even when transaction data is slow to propagate, which will improve throughput and help keep the network running smoothly at scale and at low cost. The full performance gains will be phased in after mainnet as parallel transaction-set downloading is gradually enabled.
Why you should care: This is a behind-the-scenes improvement—you don't need to change anything to benefit from it as it rolls out—but it's foundational. A faster, more resilient consensus process is what lets Stellar keep growing without getting slower. (Teams that consume raw ledger data directly should see the “Breaking changes” section of the upgrade guide, as the change adds a new value type they'll want to handle.)
Atomic upgrades for fleets of contracts (CAP-85)Many protocols deploy lots of copies of the same contract—a “fleet” that all share the same underlying code. When that shared code needs an upgrade (say, to ship a security fix), the admin has to update each instance one by one. For large fleets, that can't be done in a single transaction, which leaves a window where some contracts are running the new code and some are still on the old code.
CAP-85 introduces an externally managed executable: contracts can point to a shared, updatable code reference owned by another contract. Update that one reference, and every contract that points to it upgrades at once—atomically, no matter how large the fleet.
Why you should care: This is the Stellar equivalent of the “beacon proxy” pattern developers know from other chains. It makes managing large deployments dramatically safer and less error-prone, and it removes the risk of a partial upgrade leaving contracts in inconsistent states.
Migration-friendly contract data (CAP-86)As contracts evolve, their data structures often need to change—adding a field, removing an unused one, or extending a shared interface. Today the standard host functions that read and write these structures reject anything that doesn't match the exact expected shape, which makes evolving a live contract's data surprisingly hard and, in some known cases, has left contracts stuck.
CAP-86 adds new “sparse” host functions that handle missing or extra fields gracefully instead of failing. That gives developers a standard, supported way to migrate contract data to a new schema over time.
Why you should care: If you maintain contracts that you expect to upgrade over their lifetime, this makes schema changes safe and routine instead of a source of breakage. You'll get it by rebuilding against an updated SDK—no changes to how you write contracts. When the Protocol-28 versions of your SDK is out, make sure to check out the migration docs for more details.
Zcash Labs spustila jako nezávislá organizace financující integrace, infrastrukturu a retroaktivní granty pro ekosystém Zcash. Prvním příjemcem grantu je zcashtocash, služba propojující $ZEC se šesti platebními aplikacemi jako Venmo, Cash App a Zelle.
A New Kind of Organization for the Zcash EcosystemZcash Labs (@ZcashLabs) has launched as an independent organization with three stated priorities: technical integration work for businesses and institutions, infrastructure support including a Shielded Vote Validator, lightwalletd and full-node instances, and planned RPC services, and a retroactive grants program for ecosystem projects.
On the grants side, Zcash Labs plans to cover project costs upfront and then seek reimbursement from ZEC coinholders, with a 20% markup applied per retroactive grants period rather than per individual request. The decision on whether to approve each reimbursement ultimately rests with coinholders. Zcash Labs has also been clear about its independence, stating it has no affiliation with the Zcash Foundation, a separate nonprofit that has historically supported Zcash development and research.
First Grantee Connects $ZEC to Everyday Payment AppsThe organization's first launched grantee is zcashtocash (@zcashtocash), a service that facilitates peer-to-peer $ZEC settlement linked to six widely used payment applications, including Venmo, Cash App, and Zelle. According to Zcash Labs, the service uses Peer for matched P2P conversions, with enclaves releasing ZEC only after the corresponding fiat payment has been verified.
The launch of Zcash Labs adds another independent entity to a Zcash ecosystem that has seen significant organizational activity in 2026. Earlier this year, the Zcash Open Development Lab (ZODL) was formed by the former engineering and product team of the Electric Coin Company following a governance dispute. ZODL raised over $25 million in seed funding from backers including Paradigm, a16z crypto, and Coinbase Ventures to continue core protocol development.
Sources:
Zcash Labs: Announcing Zcash Labs
CoinDesk: Zcash Open Development Lab raises $25 million in seed funding
Algorand vydal go-algorand v5.0.0, který přímo do protokolu přidává postkvantové zabezpečení účtů. O aktivaci upgradu nyní rozhodnou hlasováním provozovatelé uzlů.
@Algorand has shipped go-algorand v5.0.0, a consensus upgrade release that embeds post-quantum account security directly into the protocol rather than layering it on top via workarounds.
Node Runners Decide What Happens NextThe release now moves to a governance step: node runners will vote on whether to activate the consensus upgrade. If the vote passes, accounts will be able to use Falcon-1024 signatures at addresses that no Ed25519 key could ever control, drawing a clean cryptographic boundary between legacy and quantum-resistant accounts.
That added security comes with trade-offs. Falcon-1024 transactions cost three times the standard minimum fee, and the signatures cannot be batch verified, meaning each one must be checked individually. Developers and users choosing post-quantum accounts should factor both costs into their workflows.
The v5.0.0 release also brings support for larger app sizes and AVM v13 , with the smart contract size limit doubling to 16,384 bytes. Crucially, live applications can grow into that expanded limit without being redeployed, which removes a significant operational burden for teams running production contracts.
Part of a Broader Quantum-Resistance Push The first post-quantum transaction hit Algorand's mainnet on November 3, 2025, using Falcon signatures. Since then, over 140,000 such transactions have been processed. The v5.0.0 upgrade represents the next logical step: moving from Falcon accounts backed by LogicSignatures to native protocol-level support.
The Q3 2026 protocol release introduces network-level support for multiple concurrent signature schemes, a foundational step toward cryptographic agility, while continuing to support traditional Ed25519 accounts alongside the new Falcon-1024 scheme.
In June 2026, Algorand announced a roadmap targeting broad quantum resilience by the end of 2027, covering native post-quantum accounts, post-quantum multisig for institutions and treasuries, and research into post-quantum-resilient VRF and signatures for consensus messaging.
Uniswap spustil veřejný dashboard s živými daty o financování, objemu obchodů, likviditě, integracích a bezpečnosti. Zobrazuje také více než 4 miliardy USD na poplatcích vyplacených poskytovatelům likvidity od roku 2018.
Uniswap just did something most companies in traditional finance still won’t do: it published a live, comprehensive dashboard showing its financial performance, trading volume, liquidity, integrations, and security history for anyone to see.
The public dashboard, which went live on August 12, gives users, developers, and investors a consolidated view of the protocol’s key performance indicators in real time.
What the dashboard actually shows The tool tracks several categories of data across the protocol’s operations. Financial metrics, trading volume, Total Value Locked, integration partnerships, and security records are all surfaced in one place.
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One number worth noting: Uniswap has distributed more than $4 billion in cumulative fees to liquidity providers since the protocol launched in 2018. That’s not protocol revenue sitting in a treasury. It’s yield that flowed directly to the people supplying capital to the exchange’s trading pools.
The dashboard also reflects Uniswap’s sprawling multi-chain footprint. The protocol now operates across more than 36 blockchain networks, with aggregate 30-day trading volumes reaching tens of billions of dollars.
Third-party analytics platforms like Dune Analytics and Allium have been tracking Uniswap metrics for years, but this dashboard consolidates those insights into an official, protocol-endorsed resource.
The v4 context This dashboard launch comes roughly 18 months after Uniswap deployed its v4 upgrade in January 2025. That update introduced hooks, a system that lets developers customize pool behavior with modular code, along with a singleton architecture that consolidates all pools into a single smart contract for gas efficiency.
With v4 maturing over the past year and a half, the dashboard provides a way to measure whether those technical innovations are actually translating into growth. Users can now track v4-specific metrics including TVL, volume, and swap counts across different chains, giving a clearer picture of adoption patterns.
For liquidity providers weighing where to deploy capital, the dashboard offers something genuinely useful: data. Instead of relying on anecdotal reports or third-party estimates with varying methodologies, LPs can now reference a single source for cross-chain performance comparisons.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Uniswap Labs přesměruje 100 % creator fees z test tokenů do programu buyback a spálení UNI. Poplatky tak půjdou na nákup UNI na trhu a jeho trvalé spálení.
Uniswap Labs is giving up creator fees on test tokens, redirecting 100% of that revenue into the protocol’s existing UNI buyback-and-burn program. The change means that every fee generated by test tokens on Uniswap’s newer launch environments now flows directly into smart contracts designed to buy UNI on the open market and permanently destroy it.
The UNIfication backstory This latest fee redirection is part of a larger structural overhaul known as UNIfication, a governance framework approved by the Uniswap DAO in November 2025. The proposal activated the protocol fee switch, establishing vault and burn contracts to ensure that protocol-level fees contribute directly to UNI token burns rather than flowing to Uniswap Labs or the foundation.
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In December 2025, the DAO initiated a treasury burn of 100 million UNI tokens, valued at approximately $600 million at the time. Protocol fees are now live on Ethereum v2 and v3 pools, generating an estimated annualized burn rate of around $26 million from those pools alone.
How TradePools and creator fees fit in Uniswap has been building out new features including TradePools, which allow token creators to impose optional fees of up to 0.05% of the 0.25% LP fee tier on their pools. For test tokens, these creator fees now exclusively contribute to the UNI burn mechanism rather than going to Uniswap Labs.
This particular change did not require a formal governance vote. Under the UNIfication framework, certain operational decisions around early-stage tokens can be made without going through the full DAO proposal process.
What the burn rate actually means for UNI UNI’s fully diluted supply is 1 billion tokens. The December treasury burn of 100 million tokens represented a one-time reduction of 10% of total supply. The ongoing annualized burn rate of $26 million from v2 and v3 protocol fees adds a smaller but continuous reduction, with potential increases as Uniswap expands to v4 and additional blockchain ecosystems.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
NEAR Intents Hits $25B in Cumulative Volume$NEARProtocol's NEAR Intents platform has crossed $25 billion in cumulative transaction volume, underscoring rapid adoption of its intent-based cross-chain execution layer. The milestone marks a sharp acceleration in growth: NEAR Intents reached $5 billion in November 2025, doubled to $10 billion by January 2026, and has continued to compound since. According to Crypto Briefing, the platform was adding roughly $1 billion in volume per week at certain points earlier this year, reflecting sustained demand for bridgeless cross-chain execution.
The architecture at the centre of this growth is an intent-driven model where competing solvers bid to fulfil user requests. Users specify a desired outcome, such as swapping USDC on Ethereum for another asset on a different chain, while third-party solvers handle execution behind the scenes. The result is a seamless experience that abstracts away the complexity of multi-chain infrastructure.
Chain Signatures and Confidential Execution Drive AdoptionA core technical enabler is Chain Signatures, NEAR's decentralised multi-party computation (MPC) framework. The technology allows NEAR smart contracts to sign and settle transactions natively on external chains, including $BTC and $ETH, without relying on bridges or destination contracts that introduce counterparty risk. A signed Bitcoin transaction, for example, can be broadcast directly to the Bitcoin mainnet with no wrapped asset or bridge involved. The protocol currently supports transactions across 30 blockchains.
Privacy is also emerging as a material driver. According to @BSCNews, 69% of all trades on the platform now use private execution, helping users avoid front-running and MEV extraction. This aligns with a broader industry trend toward confidential transaction layers in DeFi. Nansen's Q2 2026 NEAR report noted that confidential Intents TVL had crossed $30 million, pointing to growing institutional and retail appetite for private on-chain settlement.
The volume figures place NEAR Intents among the more consequential cross-chain infrastructure plays in the current cycle, with its bridgeless settlement model and privacy features setting it apart from traditional bridge-based competitors.
Sources
Crypto Briefing: NEAR Intents surpasses $20B in all-time transaction volume
Nansen: NEAR Protocol Q2 2026 Report
NEAR Protocol: Chain Signatures Launch Blog
@NEARProtocol has handed verification of its confidential AI workloads to @intel's Trust Authority, shifting the chain of trust away from the platform operator and anchoring it directly at the chipmaker level.
What Changed and Why It Matters NEAR AI Cloud has run on Intel and NVIDIA confidential computing hardware since December 2025. What is new is who validates the proofs. Every workload now returns an Intel-signed attestation token confirming that the job ran inside sealed, tamper-resistant hardware. @NEARProtocol operates the service, but @intel independently checks it, meaning users no longer have to take the operator's word for it.
That distinction is significant. Intel Trust Authority decouples the roles: Intel itself is the appraiser, the host is only the host, and the relying party receives a token signed by an independent third party with no operational stake in the workload. This resolves a long-standing weakness in confidential computing deployments, where infrastructure providers have historically relied on self-attestation.
Intel Trust Authority is a zero-trust attestation service that helps verify apps, data, and workloads are running in trusted environments. It validates infrastructure, applications, and AI workloads using Intel confidential computing Trusted Execution Environments (TEEs) on CPUs and GPUs.
How NEAR AI Cloud Works NEAR AI Cloud delivers private inference in three steps: a user's prompt is encrypted locally and transmitted to a Confidential Virtual Machine (CVM) inside a TEE; processing occurs inside a Trusted Execution Environment that prevents external access, including from NEAR itself; and inside the enclave, the model decrypts the input, performs inference, and re-encrypts the result before returning it.
By running models in TEEs with cryptographic attestation, the platform creates an auditable chain of trust. Organizations can verify not just that their data was encrypted in transit, but that it remained encrypted during processing and that the model executing the inference was the one they expected.
The integration is live now. For enterprises handling sensitive data, the move addresses a core concern: one misconfiguration or insider action can break traditional software-level trust signals instantly, which is why the AI industry needs verifiable privacy, not unsupported promises.
Sources:
NEAR AI: Introducing NEAR AI Cloud and Private Chat
Intel: Intel Trust Authority Overview
Crypto Briefing: NEAR AI Builds Infrastructure for Private AI Model Execution
PancakeSwap přidal na BNB Chain podporu pro $GMEB, tokenizovanou verzi akcií GameStop krytou 1:1 skutečnými akciemi u regulovaného správce. Binance ve stejný den, 12. srpna 2026 v 20:00 UTC+8, spustila spotový obchodní pár GMEB/USDT s maržovým obchodováním.
PancakeSwap has added trading support for $GMEB, a tokenized version of GameStop shares, on BNB Chain.
$GMEB is a BEP-20 token issued under Binance’s bStocks program, backed 1:1 by actual GameStop shares held by a regulated custodian. The contract address is 0x46ceefda28dd7207059ed19b0acdc026955bb15c.
How the bStocks model works Binance’s bStocks program takes traditional equities, parks the underlying shares with a regulated custodian, and issues blockchain tokens that mirror their value on a one-to-one basis. Each $GMEB token represents economic exposure to one share of GameStop.
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Binance listed the GMEB/USDT spot pair with margin trading support on August 12, 2026, at 20:00 UTC+8. PancakeSwap’s integration happened in parallel, giving decentralized traders an alternative venue to access the same asset without relying on a centralized exchange’s order book.
Traditional stock markets close on evenings, weekends, and holidays. Tokenized equities don’t, enabling 24/7 on-chain trading.
PancakeSwap’s growing RWA playbook This isn’t PancakeSwap’s first foray into tokenized real-world assets. The DEX has been building out this category since October 2025, when it integrated with Ondo Finance. That partnership added over 100 tokenized stocks, bonds, and ETFs to PancakeSwap’s offerings on BNB Chain.
As of mid-2026, PancakeSwap had surpassed $50 million in cumulative trading volume for tokenized assets on BNB Chain.
What this means for tokenized equities Binance listing the GMEB/USDT pair on the same day PancakeSwap added support creates a two-track system where traders can choose their preferred environment. Centralized exchange users get familiar interfaces and margin trading. DeFi users get self-custody and composability with other on-chain protocols.
The regulatory picture remains unresolved. Tokenized equities that provide economic exposure to real securities exist in a gray zone across many jurisdictions. The 1:1 custodial backing model adds legitimacy, but different regulators have different opinions on whether these instruments constitute securities themselves.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
V červnu získali emitenti stablecoinů na Avalanche 6,9 milionu USD z výnosu rezerv, zatímco on-chain ekonomika sítě vytvořila jen 3,1 milionu USD. Na $AVAX z toho neplyne žádný příjem.
Issuers Pocket More Than the Network EarnsA notable gap has emerged inside the Avalanche ecosystem. According to figures from the @AvalancheFDN, stablecoin issuers collected $6.9 million in yield on the reserves backing Avalanche-resident tokens in June alone. Over the same month, Avalanche's on-chain economy produced just $3.1 million in nominal Gross Chain Product, the Foundation's own measure of on-chain value added, defined as on-chain profit plus transaction fees. Issuers are earning more from parked reserves than the network itself generates, and none of that income flows back to $AVAX.
The cumulative picture is starker. Lifetime issuer income on Avalanche has reached $242.8 million. That sits against $23.5 million in @avax C-Chain fees burned since 2024, itself a fraction of the $954.8 million in lifetime on-chain production the Foundation estimates. The burn is also highly concentrated: the two largest stablecoin issuers account for roughly 96% of total issuer income, at $173.2 million and $59.7 million respectively. On the fee side, Avalanche burns 100% of C-Chain transaction fees, both base and priority, which goes further than Ethereum's EIP-1559 design, which burns only the base fee and directs priority fees to validators. That structural advantage has not been enough to close the value-capture gap.
The issuer income stream is also more stable than the network's own output. Issuer revenue swings 2.1 times from peak to trough, against a 7.5 times swing for Avalanche's on-chain output. Reserve yield tracks broader interest rate conditions rather than the ebbs and flows of on-chain activity, which makes it inherently steadier regardless of network usage.
Proposed Fixes and a Cautionary Case StudyThe Foundation has identified two protocol-level levers. ACP-67 proposes a protocol-owned stablecoin as a direct route to capturing reserve yield for the network rather than leaving it with external issuers. ACP-283 makes the C-Chain minimum gas price adjustable through validator voting, replacing the current static setting, allowing validators to respond to network conditions dynamically. The logic is that higher minimum fees mean more AVAX burned per unit of activity, improving the network's own value retention.
The Foundation's paper also points to Hyperliquid as a live example of what protocol-owned yield capture looks like in practice, and of its limits. Hyperliquid launched USDH, a native stablecoin designed to redirect reserve yield back into its own ecosystem. Under a subsequent arrangement with Coinbase, the exchange agreed to treat USDC on Hyperliquid as on-platform and pay around 90 percent of reserve income back to the protocol. Hyperliquid ultimately pushed incumbents into sharing economics directly instead of building a large standalone stablecoin ecosystem around USDH. The Foundation cites this as evidence that even a well-executed protocol stablecoin can be outcompeted by negotiating yield-sharing terms with an established issuer. It is a foundation publishing a data point that complicates the easy version of its own plan, and it is arguably the most honest part of the paper. Whether ACP-67, ACP-283, or a combination of both can meaningfully shift the value-capture balance for $AVAX holders remains an open question. All figures cited are Foundation estimates.
Sources:
From Static Constants to Dynamic Variables: What Three ACPs Say About Avalanche's Economics (Avalanche)
Avalanche Retro9000 Initiative's C-Chain Phase Goes Live (Yahoo Finance)
Avalanche Transaction Fees (Avalanche Builder Hub)
Kalshi přidává do svého order booku nízkolatenční datový feed od DoubleZero, podporovaného Solanou, aby uspokojil poptávku institucí po rychlých datech. Feed má traderům nabídnout strojově čitelný pohled na predikční trh pro pricing, hedging a generování signálů.
Kalshi’s order book is adding Solana-based DoubleZero’s low-latency market data feed to meet institutional demand. The DoubleZero Foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, distributing it simultaneously to all connected traders.The model has underpinned traditional financial exchanges, including NYSE, Nasdaq and the CME, for decades, the foundation said.The growing presence of financial institutions in cryptocurrency brings with it increasing demand for Wall-Street style systems in digital asset markets, such as servers that offer split-second advantages when executing trades.
Kalshi is looking to meet that demand by adding Solana-based DoubleZero’s low-latency market data feed to its prediction market order book.
The DoubleZero Foundation said this will provide trading firms with a machine-readable view of a prediction market for pricing, hedging and signal generation on Solana, one of the major layer-1 blockchains.
The foundation described DoubleZeroEdge as a transport layer, sending live exchange and onchain data over dedicated fiber, publishing the data and distributing it simultaneously to all connected traders.
In traditional finance (TradFi), institutions use specialized networks to access data at high speed, whereas in crypto, traders still largely rely on the internet. DoubleZero attempts to address that through a bespoke onchain system.
“This is the same distribution model that has underpinned traditional financial exchanges, from NYSE to Nasdaq to the CME, for decades,” the foundation said in an emailed announcement on Wednesday.
Prediction markets like Kalshi provide a probability assessment of macroeconomic releases like interest-rate cuts and inflation statistics, geopolitical events and asset price movements. Such statistics have the ability to cause significant price movement within milliseconds of their release, hence the demand for a Kalshi feed built into onchain data infrastructure.
Kalshi, one of the world’s two largest prediction markets (the other is Polymarket), will provide its most actively traded contracts at rollout, including crypto perpetual futures, derivatives contracts allowing traders to speculate on an asset’s price without an expiration date.
DoubleZero aims to give traders “the complete picture of Kalshi,” according to Wednesday’s announcement, “all on one low-latency connection.”
CORRECTION (Aug. 12, 2026, 19:40 UTC): Clarifies relationship with this new partnership.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
GnosisDAO začíná hlasovat o GIP-153, který by z Gnosis Chain udělal první instanci EEZ. Pokud projde, síť se přebuduje na ZK-provený EEZ rollup bez změny adres, zůstatků ani xDAI.
The Ethereum Economic Zone was just a vision in March. Today, Gnosis Chain has moved to become the first implementer.
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Earlier this year, the introduction of the Ethereum Economic Zone (EEZ) vision catalyzed plenty of optimism. Through ambition and determination, the Ethereum community can tackle its UX thorns.
However, upon its announcement the EEZ was only that, a vision. Fast forward to today, though, and this idea has come much further into focus.
GIP-153 is live: the proposal for Gnosis Chain to become the first instance of the @etheconomiczone.
What it proposes:
> Gnosis Chain re-based onto Ethereum. Same chain, same addresses, xDAI stays the gas token
> Every mainnet asset, pool and oracle one atomic call away, and… pic.twitter.com/VeYdzfJcru
— Gnosis Chain (@gnosischain) August 12, 2026 Today the Gnosis community began voting on GIP-153, a proposal to change the strategic direction of Gnosis Chain that, if passed, would greenlight design work to recenter the network from a standalone Layer 1 into the inaugural instance of the EEZ.
If you missed the news back in March, the EEZ is a Gnosis and ZisK-led effort, funded by the Ethereum Foundation as shared public infra, aimed at giving Ethereum L1 and its rollups synchronous composability: the ability for a contract on one chain to call a contract on another and get a result back in the same atomic transaction without bridging.
What’s the Ethereum Economic Zone? on Bankless
Ethereum’s liquidity fragmentation problem might not be an issue for much longer.
BanklessWilliam M. Peaster
The grand idea is that if this architecture is brought to fruition, then Ethereum's whole ecosystem can have UX that feels like using a single chain again, just like in the days before Layer 2s. And this advance could be pulled off without Ethereum itself needing to make any protocol-level changes. Beyond the technical work needed here, though, you also need chains to commit to joining the EEZ.
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We haven't seen such commitment intrigues yet until today with the official opening of GIP-153, which specifically asks GnosisDAO to align on transitioning Gnosis Chain directly onto Ethereum as a ZK-proven EEZ rollup.
Notably, this transition wouldn't entail a literal migration to some new chain, as addresses, balances, and the xDAI gas token would stay exactly as they are now. What would happen is the sunsetting of Gnosis Chain's validator, shifting the responsibilities entirely to Ethereum's validators. GnosisDAO's treasury-funded staking subsidy would end too, replaced by a fee-capture model tied to network usage.
The rollout would be phased, as well. The first deployment could be out as early as December 2026 and would aim to provide "80% of the synchronous-composability unlock for around 40-50% of the total engineering effort," with the full finished release prepared throughout next year.
Again, this is the first real EEZ greenlighting effort the Ethereum community has seen, and it won't be the last. Future EEZ adopters will likely follow the same playbook Gnosis has modeled here, i.e. public debate, formal proposal, Snapshot vote, and then implementation work. At the time of writing, the GIP-153 vote was sitting around 98% in favor, though quorum is still early (9% of the threshold) and the vote will be open through August 19th.
Thus it seems the promise of the EEZ is now a little closer within reach. If passed, one could hold a position on a Gnosis lending market before closing it out directly into a stablecoin sitting on Ethereum mainnet, all without ever bridging or touching a second wallet. The reverse works too: funds that only ever existed on Ethereum could open or fund something on Gnosis in the same atomic step.
Of course, it's worth keeping in mind that GIP-153 is an alignment vote, so if it passes, Gnosis's engineering team still has to chart the path forward, including how sequencer decentralization gets handled and other related technical issues. But even with these sorts of outstanding matters, GIP-153 is a milestone that suggests the EEZ will, in fact, become more than just a theoretical roadmap. Now, let's see what other chains might decide to follow suit next.
Injective rozšířil interoperabilitu integrací LI.FI, která propojuje jeho ekosystém s více než 60 blockchainy a přes 1 000 aplikacemi. INJ zároveň sleduje průraz nad rezistenci směrem k 6 USD.
Injective (INJ) is closely monitored by traders as it reenters its previous trading range and eyes a potential bullish reversal. The DeFi-focused blockchain protocol, developed to enable fast and efficient decentralized applications, currently trades at $4.53 with a 24-hour trading volume of $70.28 million and a market capitalization of $453.8 million.
Market action and range retestAfter a recent rally that delivered gains of 20%, INJ has surrendered some momentum as its price dipped back into a consolidation zone. This pullback has injected fresh uncertainty into the market, as neither buyers nor sellers appear to maintain clear control at this stage. Despite the retracement, technical analysis points to a potential bullish reversal if INJ manages to stay within the established range.
Market participants are cautiously waiting to see if a clear breakout will reestablish upward momentum and allow INJ to test the next target at $6. In the interim, traders have expressed preference for waiting for well-defined setups rather than acting on early signals.
Traders see the breakout above resistance as a key step toward renewing the bullish trend and placing $6 into focus as a likely target.
MetricCurrent ValueINJ Price$4.5324h Trading Volume$70.28 millionMarket Capitalization$453.8 millionRecently Tested Target$6LI.FI integration expands connectivityInjective has taken a significant step in enhancing network interoperability through a new integration with LI.FI. This integration connects Injective’s ecosystem with a network encompassing over 60 different blockchains and more than 1,000 applications. The expansion is designed to streamline cross-chain liquidity and bridging, making it easier for users to move assets between networks without the need for multiple bridges or fragmented liquidity sources.
The addition of LI.FI aims to not only improve the distribution of Injective’s network but also facilitate the smoother transfer of both INJ and native USDC tokens across supported chains. This addresses a growing demand for seamless interoperability as decentralized finance platforms compete to provide frictionless cross-chain experiences.
Mini dictionary: LI.FI is a cross-chain infrastructure protocol that enables interoperability by connecting various blockchain networks and aggregating bridges and decentralized exchanges for seamless asset swaps.
Outlook and risk factorsThe current momentum in INJ’s price action coincides with Injective’s push for greater interoperability and broader network reach. Still, the broader market remains cautious, and analysts acknowledge that any breakout could potentially falter if wider bearish conditions persist.
As investors track Injective’s next moves, attention remains focused on whether the protocol can maintain its current range and secure further bullish momentum. The $6 resistance level continues to be a critical benchmark, likely to attract increased attention if market sentiment turns more favorable.
The integration with LI.FI may further support Injective’s positioning in the DeFi sector by making cross-chain movements more efficient for end users, which could ultimately contribute to stronger liquidity patterns over the long term.
Continued growth in interoperability through LI.FI’s solution could be a decisive factor for broader adoption and utility of the Injective network.
While recent predictions remain optimistic, the potential for market volatility and fakeouts remains, underscoring the need for careful risk management and ongoing assessment of price structures as the situation evolves.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
LlamaRisk spustil LlamaGuard PT, údajně první automatizovaný risk oracle postavený na platformě Chainlink CRE. Má v reálném čase spravovat riziko Principal Tokens na Aave místo ručních zásahů.
A New Standard for DeFi Risk Management@LlamaRisk has launched LlamaGuard PT, billed as the world's first automated risk oracle built on the @Chainlink Runtime Environment (CRE). The product is designed to handle real-time risk management for @PendleFinance Principal Tokens (PTs) used as collateral on @Aave, replacing a process that until now relied heavily on manual intervention.
LlamaRisk had been running the PT oracle manually and pushing parameter changes through the Risk Stewards path since Chaos Labs stepped down from Aave risk management in April. That arrangement was described as "a transitional path that was never meant to be permanent."
The shift to an automated pipeline addresses a structural gap in how DeFi protocols manage fast-moving risk. Traditional governance processes can take days to implement parameter changes, while market conditions can deteriorate in minutes. LlamaGuard PT is designed to close that gap by operating continuously, without waiting for a governance vote.
How LlamaGuard PT Works on Chainlink CREThree Chainlink CRE workflows replace the manual process. The workflows compute smoothed implied rates, discount rates, and per-E-Mode liquidation parameters for each Pendle PT market, each publishing a signed report that a new onchain router validates. The router writes atomically to the oracle and triggers execution in a single transaction, with every parameter change recorded on-chain and independently verifiable.
Under the new structure, Aave Governance owns every contract, the risk manager only proposes, and every parameter and tuning decision is recorded onchain. This represents a meaningful shift in accountability compared to the prior setup, where risk managers held write authority over key oracle parameters with limited on-chain auditability.
LlamaGuard adjusts lending parameters autonomously to prevent cascading failures, continuously optimising system settings based on real-time risk assessments and market conditions. CRE also enables LlamaGuard to initiate automated management actions to contain risk, such as triggering circuit breakers or adjusting parameters on target DeFi protocols.
Certora audits will cover both the new contracts and the CRE workflow code. Two of the three new contracts, the LlamaguardRiskOracle and ParameterRegistry, were already audited by two security teams as part of an earlier LlamaGuard NAV deployment.
Sources:
The Defiant: Aave Proposes Protocol-Wide Risk Framework After KelpDAO Exploit
Aave Governance: ARFC Upgrade PT Risk Oracle to Protocol-Owned Infrastructure on CRE
LlamaRisk: LlamaGuard Overview
Coinbase 26. srpna kolem 21:00 pozastaví obchodování s perpetuálními kontrakty pro následujících 10 aktiv: Memecoin (MEME-PERP), The Sandbox (SAND-PERP), Moonbirds (BIRB-PERP), Blur (BLUR-PERP), Katana (KAT-PERP), SPX6900 (SPX-PERP), ZORA (ZORA-PERP), Axie Infinity (AXS-PERP), Gensyn (AI-PERP) a LayerZero (ZRO-PERP). Otevřené pozice se automaticky vypořádají.
Coinbase will suspend perpetual contract trading for the following assets around 21:00 on August 26: Memecoin (MEME-PERP), The Sandbox (SAND-PERP), Moonbirds (BIRB-PERP), Blur (BLUR-PERP), Katana (KAT-PERP), SPX6900 (SPX-PERP), ZORA (ZORA-PERP), Axie Infinity (AXS-PERP), Gensyn (AI-PERP), and LayerZero (ZRO-PERP). Remaining open positions will be automatically settled, with the final settlement price based on the average index price of the 60 minutes prior to the trading suspension. The funding rate for the last cycle will be set to zero.
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Coinbase ukončí podporu vkladů a výběrů DAI na Avalanche, Arbitrum a Optimism od 17. srpna 2026. DAI zůstane na Coinbase podporován jen na mainnetu Ethereum.
Coinbase is pulling the plug on DAI deposits and withdrawals across three major Layer 2 and alternative networks. Starting August 17, 2026, users will no longer be able to move DAI through Avalanche, Arbitrum, or Optimism on the platform.
The stablecoin will still be supported on Ethereum’s mainnet. But for anyone who’s been routing DAI through those faster, cheaper networks, it’s time to rethink the workflow.
What’s actually changing Coinbase first flagged the change back around July 13, 2026, and dropped a reminder on August 12 as the deadline approaches. The mechanics are straightforward: after August 17, any attempt to deposit or withdraw DAI via Avalanche, Arbitrum, or Optimism through Coinbase will simply stop working.
One important wrinkle: DAI isn’t actually listed for trading on Coinbase. The exchange only supports deposits and withdrawals of the token on certain networks. So this isn’t about delisting a trading pair. It’s about narrowing the infrastructure pipes through which DAI can flow in and out of the platform.
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Users holding DAI on those networks will need to either bridge their tokens to Ethereum before the cutoff or find alternative routes. Ethereum remains the one supported highway for moving DAI through Coinbase after the deadline.
And DAI isn’t alone in getting trimmed. Coinbase is also ending support for USDC on the Noble network and cbETH on various Layer 2 networks on the same August 17 date.
Why Coinbase is consolidating DAI, issued by MakerDAO, was designed to be a decentralized stablecoin usable across multiple blockchains. It’s pegged to the US dollar and backed by crypto collateral rather than bank deposits. The token has historically seen the lion’s share of its activity on Ethereum, which makes the decision to keep that network supported while pruning others a logical one from a volume perspective.
Arbitrum, Optimism, and Avalanche are all networks that offer faster and cheaper transactions than Ethereum’s mainnet. They’ve grown substantially as scaling solutions for DeFi users looking to avoid Ethereum’s sometimes painful gas fees. But for a centralized exchange like Coinbase, the question isn’t whether those networks are useful in general. It’s whether enough DAI is moving through them on Coinbase specifically to warrant continued support.
What this means for DAI users The immediate practical impact falls on a specific subset of users: those who deposit or withdraw DAI through Coinbase using Avalanche, Arbitrum, or Optimism. If that describes your setup, you have until August 17 to adjust.
The simplest path is bridging DAI to Ethereum before the deadline. Alternatively, users could withdraw DAI to a self-custody wallet on any of the affected networks and manage it outside of Coinbase entirely.
The bigger signal here is strategic. Coinbase has been methodically trimming its network support across multiple tokens, and the August 17 batch of changes covering DAI, USDC on Noble, and cbETH on Layer 2s suggests this is an ongoing program rather than a one-time adjustment.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Worldcoin čelí obavám z nabídkového tlaku po přesunu 4.418 milionu WLD do osobní peněženky; analytik odhadl, že se může uvolnit více než 7 milionů WLD, konkrétně 7.197 milionu WLD. Tlak zvyšuje i 90denní převaha agresivních prodejců.
Worldcoin’s 4.418 million WLD unlock intensified distribution concerns after substantial team-linked tokens entered a personal cryptocurrency wallet.
According to Nazoku, a market analyst on X, the wallet also received 2.779 million WLD from the team one year ago.
Source: X Those tokens remained unsold, possibly because a one-year lock-up agreement restricted their movement.
The analyst therefore estimated more than 7 million WLD could become available for distribution during the coming days.
The combined amount reached approximately 7.197 million WLD across both transfers.
However, the 2.779 million allocation represented potential supply rather than a newly confirmed unlock.
Any distribution would increase available tokens while Worldcoin already faced fragile market conditions.
Buyers would therefore need stronger absorption to prevent additional supply from weighing heavily on price.
Seller dominance leaves absorption capacity under pressure Spot Taker CVD added an additional bearish factor to the ongoing supply picture.
The 90-day indicator saw taker sell dominance, with the market-order activity being dominated by aggressive sellers.
Therefore, WLD entered the potential distribution period without convincing evidence of strong taker demand.
The imbalance was significant because an increase in supply would have necessitated a sufficient demand to offset the downside pressure.
Rather, seller dominance was already bringing absorption capacity into question even before a potential distribution was made.
However, the wallet activity alone did not confirm immediate selling from the team-linked address.
Whether those available tokens eventually would find their way into active trading venues would have been a significant factor in the market pressure.
Still, persistent taker selling weakened Worldcoin’s ability to comfortably absorb a substantial increase in circulating supply.
Source: CryptoQuant Can $0.2995 anchor Worldcoin’s recovery? Price action offered buyers some relief after Worldcoin [WLD] rebounded from the $0.2995 support zone.
The recovery carried WLD toward $0.3392, placing $0.3600 directly above the developing advance.
Meanwhile, DMI readings captured a narrow directional battle rather than strong buyer control. The +DI reached 21.2868, narrowly exceeding the -DI reading of 18.9691.
ADX registered 22.5158, indicating the developing directional strength remained relatively limited.
Therefore, the slight DMI advantage supported recovery attempts but lacked enough strength to dismiss supply risks.
A push through $0.3600 would strengthen the rebound and expose the higher $0.4413 level.
Failure around $0.3600 could redirect attention toward $0.2995, especially alongside persistent taker selling.
Team-linked distribution would further increase pressure around that support during another decline.
Source: TradingView Liquidity puts key levels in play Nearby liquidation concentrations created immediate pressure points around WLD’s $0.339 trading region.
The highest area of concentration from the nearby upside was found between $0.342 and $0.343, just above the current price.
There was also a significant liquidity band between $0.349 and $0.350, which reinforced the pull from the current price.
Below price, substantial liquidation liquidity accumulated near $0.329 to $0.330.
Additional clusters extended beneath $0.325, leaving meaningful downside liquidity available during renewed selling.
Accordingly, the $0.343 region could attract price before Worldcoin confronts the broader $0.3600 resistance.
Yet seller-dominant CVD and potential distribution increased the significance of the $0.330 downside pool.
The loss of that area could speed up the move to lower clusters and ultimately pose a threat to $0.2995.
Buyers therefore faced nearby upside liquidity but carried heavier fundamental supply risks.
Source: CoinGlass Final Summary WLD’s rebound faces growing pressure from potential team-linked supply and taker selling. Buyers hold a slight DMI advantage, but $0.3600 remains a crucial recovery barrier.
Folks Finance přidal na xChain cenové feedy DIA pro MON, SEI a SYRUP, čímž rozšířil lending trhy o aktiva mimo standardní pokrytí oracle. Na Avalanche je nyní oceňuje pomocí DIA.
Folks Finance adds DIA price feeds for MON, SEI and SYRUP on xChain, extending lending markets to assets outside standard price oracle coverage.
Lending protocols are consolidating around unified liquidity. Rather than deploying a separate market on every chain and watching capital fragment across them, the current generation routes everything back to a single hub holding the pool and the risk parameters, with the other chains acting as entry points. Folks Finance is among the clearest expressions of that design, with Avalanche as its hub chain and users depositing from Ethereum, Base, Arbitrum, Monad and elsewhere into shared liquidity.
The model solves capital fragmentation and relocates the growth constraint. A unified hub can lend against anything it can price, and only against what it can price.
Folks Finance now prices MON, SEI and SYRUP on Avalanche using DIA price feeds.
Our multi-provider oracle setup allows us to source pricing on a per-asset basis, choosing the most suitable provider for each market. Integrating DIA further strengthens the flexibility and resilience of the oracle infrastructure supporting Folks Finance's lending markets.
Benedetto Biondi
Founder & CEO, Folks Finance
The price oracle conversation in DeFi is usually framed around accuracy and manipulation resistance. That framing fits blue-chip collateral, where the problem is also close to solved. The harder commercial problem for a lending protocol in 2026 is coverage. The assets that carry borrowing demand are increasingly newer network tokens and protocol tokens whose liquidity sits thinly across their home chain and a handful of centralised venues.
Those are the assets where a listing decision becomes a price oracle decision. They fall outside the standard coverage set. They need venue-level sourcing rather than an aggregated snapshot, and a protocol that cannot get them priced does not list them. Protocols that can price them list first and take the deposits.
MON, SEI and SYRUP sit in that category. None of them trade where Folks needs the number, and SYRUP in particular is the kind of asset a lending market wants and a default catalogue deprioritises: a token from an established onchain credit franchise, liquid enough to lend against, small enough to be overlooked.
DIA sources price data first-hand. Independent feeder nodes pull trade data directly from the exchanges where each asset actually trades, rather than reading it from a third-party aggregator. That data is aggregated onchain with outlier filtering and staleness checks before delivery to the destination chain.
For assets outside the standard coverage set, first-hand sourcing is what makes the feed possible at all. A venue can be added when liquidity moves. Coverage extends to assets no aggregator has decided to track yet. DIA supports more than 3,000 crypto price feeds across 60+ chains and adds new assets on request, which is what a protocol needs when its listing pipeline moves faster than any provider’s default catalogue.
The feeds are delivered through a universal price oracle interface, so a protocol adds a provider without changing how it reads a price.
Multi-provider setups are becoming the default in serious lending markets, for commercial reasons as much as technical ones. A protocol tied to a single provider inherits that provider’s coverage decisions and its roadmap. A protocol that sources per asset lists on its own schedule.
Folks Finance already reads from multiple providers, and the three feeds now living on its hub are what that looks like in practice. The markets opened because a provider could price the assets. DIA and Folks are in contact on further assets as new markets open.
Solana se ve středu jen těsně vyhnula úplnému zamrznutí, když výpadek routingu vyřadil téměř 29 % stakovaných tokenů. Marinade uvedla, že síť byla asi 20 milionů tokenů od hranice, po níž se finalita zastaví.
Solana neared the network freeze threshold Wednesday. (Marinade)Summary
A routing failure at a major data center provider briefly knocked nearly 29% of Solana’s staked tokens offline, bringing the network close to a full halt, according to staking platform Marinade.Because Solana stops finalizing transactions if more than one-third of staked tokens go offline, the incident left the network within about 20 million tokens of a freeze similar to a five-hour outage in February 2024.The glitch, traced to a bad internet route originating at Teraswitch’s Miami facility and spreading to data centers in Europe and Asia, exposed the risk of relying on a single connectivity provider that controlled more than a quarter of all staked tokens.Solana nearly froze on Wednesday morning when a routing glitch at a major data center provider knocked almost 29% of the network’s staked tokens offline, staking platform Marinade said.
Finality, the point at which blockchain transactions become irreversible, stops if more than a third of the coins staked go dark. Staking refers to act of locking coins in a blockchain network to secure it in return for rewards.
Marinade said that the network came within about 20 million tokens of that threshold. Roughly 90 validators were hit and together lost 333 SOL in rewards, a relatively small sum that will be covered by “validator bonds.”
“If delinquency had gone past a third, nothing finalizes for anyone holding SOL anywhere, and there's no bond for that. The February 2024 halt took about five hours to restart,” Marinade said in an explainer post.
Solana is one of the leading smart contract blockchains, with assets worth $4.3 billion locked in DeFi protocols operating on the network. The blockchain has built a reputation as a faster and cheaper alternative to industry leader Ethereum, but has faced several outages in the past.
The latest issue started with a bad internet route from Teraswitch’s Miami facility that then spread to data centers across Europe and Asia, cutting off validators in London, Amsterdam, Frankfurt, Singapore and Tokyo. North America stayed online. The company fixed the issue in about 10 minutes, and traffic was flowing again by 4:16 a.m. UTC.
One single network operator, identified as AS2032, controlled more than a quarter of all the tokens people had locked up to secure the network, which was more than the Solana-prescribed safety limit. Almost all of those tokens went offline at the same time. Other companies lost another 14 million tokens in the same short period. Most of the affected validators, including the big one called Helius, stayed offline for the full 33 minutes because their backup systems never switched on.
This whole event is a clear warning: if more than one-third of the network’s tokens ever go offline at once, the entire blockchain freezes for every single person holding SOL, and there is no quick way to fix the bigger damage that would follow.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Ondo požádalo SEC o zrušení pravidla Rule 611 z roku 2005, které podle něj brání přímému propojení tokenizovaných i netokenizovaných akcií na jednom trhu. Firma tvrdí, že současný rámec znemožňuje fungování cenotvorby založené na RFQ u tokenizovaných akcií.
Ondo Targets a 20-Year-Old Market Rule@OndoFinance has written to the U.S. Securities and Exchange Commission this week, formally requesting the repeal of Rule 611 of Regulation NMS, the regulation commonly known as the Trade-Through Rule. The protocol argues the rule, which has been in place since 2005, is no longer fit for purpose and specifically prevents tokenized and non-tokenized stocks from interacting directly within a single, unified market structure.
At its core, Rule 611, often referred to as the order protection rule or trade-through rule, was adopted in 2005 as the centerpiece of Regulation NMS. It generally requires trading centers to establish, maintain, and enforce policies and procedures reasonably designed to prevent executions at prices inferior to protected quotations displayed by other trading centers. Ondo contends that this framework creates an uneven playing field that makes request-for-quote (RFQ) pricing for tokenized equities unworkable.
Ondo's Broader Push Into Regulated Tokenized EquitiesThe letter to the SEC is part of a wider regulatory campaign by Ondo. Earlier in 2026, Ondo launched over 200 tokenized U.S. stocks and ETFs on Solana, providing blockchain-based exposure through Jupiter's RFQ system with just-in-time minting during regular trading hours. The firm has also been building out its regulated infrastructure: Ondo Finance's SEC-registered broker-dealer subsidiary, Oasis Pro Markets, has secured regulatory authorization to offer tokenized equities and funds to U.S. investors under SEC and FINRA oversight.
Ondo's call for reform lands at a receptive moment in Washington. On June 11, 2026, the SEC proposed rescinding Rule 611 and Rule 610(e), which have been central components of Regulation NMS since 2005. The proposal is grounded in the SEC's assessment that changes in market structure, including increased exchange competition, technological developments, and evolving trading practices, warrant reconsideration of the current regulatory framework. The SEC's proposal would represent one of the most significant changes to U.S. equity market structure since the adoption of Regulation NMS.
For Ondo, the stakes are clear. The firm's proposal requests the creation of equal execution conditions that would allow RFQ pricing to function for tokenized stocks alongside their traditional counterparts. While regulatory approvals are broadening access to tokenized securities, the expansion also highlights challenges associated with integrating traditional financial assets with blockchain infrastructure, including risks such as smart contract vulnerabilities, liquidity constraints, and evolving regulatory requirements.
Sources:
WilmerHale: The SEC Takes Aim at the Trade-Through Rule
SEC Fact Sheet: Regulation NMS Reforms
Crypto Times: Ondo's Oasis Pro Gets SEC, FINRA Nod for Tokenized Stocks
HYPE po návratu nad klíčový support a po nákupu velryby za 7,29 mil. USD drží kolem 55,39 USD. Na Hyperliquid zároveň debutovala platforma xStocks s tokenizovanými akciemi a ETF.
Key Highlights HYPE currently trades at $55.39 following a successful reclaim of critical moving-average support, positioning for a potential $57 breakout Technical analyst BATMAN reports HYPE bounced from its three-day MA and successfully recaptured a key support zone that was previously lost Major whale activity detected with $7.29 million HYPE purchase on Coinbase, indicating strong institutional confidence xStocks platform debuts on Hyperliquid, bringing tokenized stocks and ETFs with round-the-clock trading capabilities Platform destroyed $1.07 million in HYPE over 24 hours; cumulative burn reaches 47.62 million tokens, representing 4.76% of maximum supply The HYPE token from Hyperliquid is demonstrating fresh momentum following a technical recovery from its three-day moving average support. Currently, HYPE is valued at $55.39, registering a 1.5% gain over the last 24 hours, supported by a market capitalization of $13.96 billion and daily trading volume reaching $252.9 million.
Hyperliquid (HYPE) Price Technical analyst BATMAN highlighted on X that HYPE has successfully recaptured a support level that was previously breached, following its bounce from moving-average support. The token is currently retesting this reclaimed area, which traders view as critical for validating the sustainability of the current recovery.
Should buyers successfully maintain support at this critical juncture, technical projections suggest a potential advance toward $57. Market observers are awaiting confirmation signals before declaring a sustained upward breakout.
Significant whale activity has reinforced the bullish sentiment. Analyst Ted Pillows reported on X that a single large-scale buyer acquired $7.29 million worth of HYPE through Coinbase in a single transaction. Ted Pillows characterized the move as clear “Accumulation,” suggesting heightened conviction among major market participants.
xStocks Platform Introduces Tokenized Stock Trading on Hyperliquid The xStocks platform has officially launched on Hyperliquid, introducing tokenized equities and exchange-traded funds through HyperCore infrastructure. The initial rollout features five tokenized assets, selected based on their highest open interest within HIP-3 perpetual futures markets.
xStocks is now live on @HyperliquidX.
Our first deployment on HyperCore starts with a total of 5 tokenized equities and ETFs, including the leaders in open interest across HIP-3 perps.
24/7 liquidity. Meeting traders where they already are. With more assets to come. pic.twitter.com/c70lqRGOtB
— xStocks (@xStocksFi) August 10, 2026
This integration enables cryptocurrency traders to gain exposure to traditional financial markets continuously, eliminating restrictions imposed by conventional trading hours. The platform seamlessly connects tokenized equity products with Hyperliquid’s established derivatives infrastructure.
Sustained Token Burning Activity Continues From a fundamental perspective, Hyperliquid eliminated approximately $1.07 million in HYPE tokens within a 24-hour timeframe, as reported by Onchain Lens. During this same period, the platform generated approximately $1.45 million in fee revenue.
Total tokens burned have now reached 47.62 million HYPE, valued at approximately $2.63 billion based on current market prices. This burn volume accounts for 4.76% of the one billion token maximum supply.
The sustained burn rate demonstrates ongoing platform activity and utilization. When combined with the xStocks platform launch and increasing whale accumulation patterns, these metrics indicate a thriving and expanding ecosystem.
HYPE’s immediate price trajectory hinges on whether buyers can maintain control of the recently reclaimed support level and generate enough momentum to break above current resistance toward the $57 target zone.
Hyperliquid přidává do HIP-1 funkci scaleWei, která umožní deployerovi jedním atomickým krokem proporcionálně upravit zůstatky všech držitelů tokenu. Současně se automaticky přepočítají i otevřené objednávky.
Hyperliquid just gave its native token standard a feature that traditional finance has had for decades but crypto has largely lacked: the ability to cleanly split, redenominate, and proportionally adjust token balances without breaking everything in the process.
The upgrade introduces a deployer-controlled scaleWei function to the HIP-1 token standard, allowing atomic proportional balance transfers across all holders of a given token. Think of it as the on-chain equivalent of a stock split, except it also handles airdrops, dividends, repricing, and reverse splits, all executed in a single atomic operation on Hyperliquid’s Layer-1 blockchain.
What scaleWei actually does The scaleWei function sidesteps the traditional migration mess entirely. When a deployer triggers it, every balance of the referenced HIP-1 token gets scaled proportionally in a single atomic transaction. No migration contracts, no user action required, no liquidity fragmentation.
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Critically, open orders on Hyperliquid’s exchange are also automatically adjusted when the scaling action references the same token. That means a limit order sitting on the book doesn’t suddenly become nonsensical after a 2-for-1 split. The order’s size and price parameters get recalibrated to reflect the new denomination.
Who controls the lever Access to the scaleWei function is restricted to two categories: system addresses and signed vaults. In practical terms, this means only the original deployer of a HIP-1 token, or an authorized vault structure, can trigger a balance scaling event.
The function builds on HIP-1’s existing parameter set, which already includes weiDecimals, szDecimals, maxSupply, and genesis distribution mechanics. HIP-1 itself remains a capped-supply fungible token standard native to Hyperliquid’s L1, meaning these tokens aren’t ERC-20s living on Ethereum. They’re first-class citizens of Hyperliquid’s own chain, with the exchange’s order book integrated at the protocol level.
The RWA play becomes more obvious Recent equity-related spot listings on the platform have already signaled the direction of Hyperliquid’s positioning toward tokenized real-world assets. With scaleWei, a deployer managing a tokenized equity on Hyperliquid can now execute a proportional distribution, like a dividend paid in the same token, by simply scaling all balances upward. A reverse split works the same way in the opposite direction. The atomic nature of the operation means there’s no window where some holders have been adjusted and others haven’t.
Where this fits in the broader upgrade timeline The scaleWei addition is part of a broader sequence of protocol enhancements. The platform’s upgrade path has included HIP-1 through HIP-4, each addressing different aspects of the protocol’s functionality. HIP-1 established the foundational capped-supply fungible token standard, while subsequent proposals have layered on additional features including liquidity bootstrapping, permissionless perpetual market creation, and prediction markets.
The initial market response has been muted, with no significant price movement on the back of the announcement.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Klienti Bitwise za poslední týden nakoupili HYPE za více než 5 milionů USD a od konce července nic neprodali. I přes 14% pokles ceny za posledních 30 dní zůstává HYPE od začátku roku o 118 % výše.
Bitwise’s ETF clients spent more than $5 million on Hyperliquid’s HYPE token in the past week and have not sold any holdings since July. Despite a 14% decline in HYPE’s price over the last 30 days, the token remains up 118% since the start of the year.
Ongoing accumulation and market signalsBlockchain analytics platform Arkham reported that Bitwise ranks among the largest HYPE ETF issuers and has not sold a single HYPE token since the end of July. All August transactions conducted by the firm and its associated investors were purchases, according to Arkham Explorer. This data represents on-chain activity and is not an official statement from Bitwise.
While the recent investment amount is relatively minor compared to the broader crypto sector, Arkham pointed out that the accumulation trend is significant. Consistent buying by a major player often signals increasing confidence in the token’s underlying fundamentals.
Arkham highlighted that a firm consistently acquiring tokens sends a markedly different message than one balancing outflows against inflows.
As traders watch the market’s shifting dynamics, timely access to live data and multi-functional tools becomes essential. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Bitwise launches Hyperliquid ETF on NYSEBitwise debuted its Hyperliquid ETF (BHYP) on the New York Stock Exchange in May 2026. Trading began a day after its May 14 launch. The company stated that this was among the first spot Hyperliquid products available in the United States and featured a unique staking capability managed through Bitwise Onchain Solutions.
As of April 1, 2026, Bitwise reported $11 billion in assets under management. The company set a sponsor fee of 0.34% for the ETF but waived all fees for the first month on investments up to $500 million.
Matt Hougan, Chief Investment Officer at Bitwise, described Hyperliquid as “one of the most compelling investment opportunities in crypto today,” crediting the platform’s underlying architecture for channeling trading activity directly to token holders.
European expansion and product featuresBitwise also expanded the HYPE product to Europe with the listing of the Bitwise Hyperliquid Staking ETP (BHYP) on Deutsche Börse Xetra on April 9, 2026. Bradley Duke, Head of Europe at Bitwise, described the listing as a timely addition to the firm’s European offerings and said it is the company’s seventh such product.
The European ETP tracks the Kaiko HYPE Reference Rate LDNLF index and carries an annual expense ratio of 0.85%. It targets a 1.00% net staking reward, with a third of staking rewards kept by Bitwise to cover operational costs. Staking revenue is collected daily and compounded, increasing each investor’s overall crypto holdings over time.
Token mechanics and trading impactCoinbase Institutional characterized HYPE as a token that behaves more like a claim on exchange revenue rather than a purely DeFi asset. In a March 5, 2026 note, Coinbase researchers detailed that the Hyperliquid protocol channels its fees into an Assistance Fund, which converts 97% of this revenue into buybacks of the HYPE token, effectively reducing the circulating supply. Coinbase estimated annualized protocol fees at approximately $1 billion.
Demand and transaction flows are key for HYPE’s ongoing price movement. Hyperliquid recorded $2.9 trillion in trading volume in 2025, representing a year-over-year increase exceeding 400%, and currently accounts for about 60% of global on-chain derivative open interest, according to Bitwise. With a market value above $11 billion, HYPE ranks as the tenth-largest cryptocurrency by market capitalization.
Whether Bitwise continues accumulating HYPE through August is expected to be reflected first in Arkham’s blockchain data.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin těžaři stále častěji míří k AI infrastruktuře. Riot Platforms uzavřel s Anthropic 20letou datacentrovou smlouvu za 9,1 miliardy USD, která může vzrůst na 16,1 miliardy USD.
Bitcoin (CRYPTO: BTC) miners are increasingly looking beyond crypto mining toward AI infrastructure, as access to massive amounts of power becomes potentially more valuable than the BTC mining machines plugged into it.
Are Mining Economics Less Attractive?In a podcast on Aug. 12, prominent crypto investor and "Wolf of All Streets" host Scott Melker argued on what may have been miners’ most valuable resource all along.
His commentary comes after Riot Platforms (NASDAQ:RIOT) reportedly signed a $9.1 billion, 20-year data center agreement with Anthropic. The agreement could rise to $16.1 billion if extension options are exercised.
The deal represents one of the clearest examples yet of Bitcoin miners repurposing their power-rich infrastructure for the booming AI computing market.
Melker said miners’ biggest asset may not be mining equipment but access to electricity and infrastructure capable of supporting energy-intensive computing.
Riot’s own numbers help explain the attraction. The company reported an average cost to mine Bitcoin of $49,912 during Q2, excluding depreciation, up from $48,992 a year earlier. Riot produced 1,587 BTC during the quarter.
Melker noted that once depreciation and other expenses are considered, the economics of mining become substantially less attractive, particularly with Bitcoin trading well below its October 2025 all-time high.
Other BTC miners have also been exploring AI and high-performance computing opportunities, turning what was once primarily a Bitcoin-mining infrastructure story into a broader race to monetize scarce power capacity.
What Does It Mean For Bitcoin?Melker argued the shift could create an unexpected positive for Bitcoin despite reducing the incentive for large U.S. miners to dedicate their infrastructure exclusively to BTC.
If major publicly traded mining companies redirect capacity toward AI, Bitcoin’s hash rate could become distributed across a broader set of operators.
That could potentially reduce concerns about mining concentration among a relatively small number of large corporate players, though lower mining participation would not automatically guarantee greater decentralization.
For investors, however, Riot’s deal illustrates a more immediate change. The valuation case for some Bitcoin miners is increasingly becoming an AI infrastructure thesis rather than simply a leveraged bet on Bitcoin.
Riot still generated most of its latest quarterly revenue from Bitcoin mining, but the Anthropic agreement represents its largest step yet toward becoming a high-performance computing and data center operator.
The transition suggests the next major competition among Bitcoin miners may not simply be over who can mine BTC most efficiently.
It may be over who controls the electricity, land and grid connections needed to power the AI boom.
Image: Shutterstock
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El Salvador po pěti letech omezil svůj bitcoinový experiment: bitcoin je nyní dobrovolný, daně se platí v USD a stát ustoupil od veřejného používání BTC. IMF zároveň uvedl, že nevidí důkaz o přínosu pro finanční inkluzi.
It’s been five years since El Salvador became the first country to adopt Bitcoin as legal tender.
President Nayib Bukele announced the plan at the Bitcoin conference in Miami on June 5, 2021, to the jubilant cries and applause of the Bitcoin community, who hailed the tiny Central American nation as living proof that BTC could be sovereign money.
Bukele sold the experiment as a way to bank the unbanked, slash remittance costs, and attract investment to the impoverished nation.
But five years on, who did the experiment benefit, and what did it actually achieve?
Dr. Tobias Boos, a senior scientist at the University of Vienna who leads a research project examining the political economy of Bitcoin in El Salvador, tells Magazine:
“There is little doubt that the project was a failure if we take seriously the reasons Bukele gave for its adoption. Foreign direct investment in this sector didn’t increase, it did not effectively bank the unbanked, and it is not widely used for remittances.”Yet El Salvador’s Bitcoin bet undeniably changed the conversation around the world’s number-one cryptocurrency, and turned nation-state adoption from a theoretical possibility into a living, breathing reality. Whether it succeeded or failed depends on what you think El Salvador was trying to achieve.
Five years into El Salvador’s Bitcoin betIn a video message played at Bitcoin 2021, Bukele said the adoption of Bitcoin would generate jobs in the short term and “help provide financial inclusion to thousands outside the formal economy.”
Today, the evidence for mass adoption is difficult to square with that ambition.
Research by Boos, Grigera and Schmid in 2025 found that the Salvadorans who adopted Bitcoin tended to be young, male, urban, more highly educated, and, perhaps more importantly, already banked. Boos concludes that, “Mass adoption by citizens did not occur.”
El Salvador had one of the region’s lowest levels of banking access at the time, with just 35.9% of people over 15 holding a bank account in 2021, according to World Bank data.
Account ownership at a financial institution (% of population ages 15+) - El Salvador. Source: World Bank
Yet the government’s Chivo Bitcoin wallet did little to solve the problem: it could transfer funds to bank accounts, but didn’t remove the underlying barriers preventing unbanked Salvadorans from accessing the financial system in the first place.
According to Boos and his colleagues, the same problem emerged with remittances, another pillar of Bukele’s pitch. In 2024, remittances accounted for around 24% of El Salvador’s gross domestic product, with the United States providing a full 98% of the total. But El Salvador adopted USD as its official currency more than 20 years ago, and having most remittances arrive from a country with the same currency removed one of the major cost reductions that Bitcoin could theoretically offer: currency conversion.
Despite the promise that Bitcoin could make these transfers cheaper, crypto wallets accounted for barely 1% of remittances by 2024, down from a peak of 1.7% in 2020-21.
It suggests the government’s early efforts to stimulate adoption failed to translate into sustained use. Chivo offered users $30 in Bitcoin for signing up, but the National Bureau of Economic Research’s nationally representative research found that more than 60% of early Chivo users never made another transaction after spending their free BTC.
Joe Nakamoto, a Bitcoin-focused journalist who has repeatedly reported from El Salvador, found a similar disconnect on the ground.
In a recent video documenting one of his visits, he said he tested Bitcoin acceptance at 21 shops in a San Salvador mall, and found that only four accepted Bitcoin, and just one did so smoothly. He tells Magazine:
“It’s very, very hard, borderline impossible to genuinely live on Bitcoin in El Salvador. Unless you’re just eating pupusas on the beach in El Zonte, and then going across to the other Bitcoin circular economies and finding workarounds.” When the IMF pulled the plugThe government has also faced international pressure to retreat from its Bitcoin experiment. In December 2024, it reached a $1.4 billion financing agreement with the International Monetary Fund, under which it agreed to scale back its involvement in Bitcoin.
El Salvador’s experiment with Bitcoin as Legal Tender. Source: NBER
The deal was approved in February 2025, and in January, the government amended its Bitcoin law to make acceptance voluntary, require taxes to be paid in US dollars and limit public sector involvement in Bitcoin-related activities, effectively dismantling the most radical parts of Bukele’s experiment.
While Bitcoin could still be used voluntarily, the state no longer compelled businesses to accept it or used it as part of the country’s public financial system.
The IMF later found that Bitcoin had produced “no evidence” of a beneficial use case for the unbanked and had had minimal impact on financial inclusion. Boos says:
“The ‘soft adoption,’ as we refer to it in one of our articles, never led to mass adoption for payments. I am not aware of any instances where tax payments were made using Bitcoin, and the infrastructure has largely remained unused.” What Bitcoin actually did achieveIf El Salvador failed to turn Bitcoin into everyday money, it still managed something no country had done before: it made nation-state Bitcoin adoption real.
Before 2021, the idea of a government adopting Bitcoin was still largely hypothetical; El Salvador made it real. As Samson Mow, chief executive of Bitcoin infrastructure firm JAN3, tells Magazine:
“The question in front of every president or finance minister shifted from whether a sovereign could hold Bitcoin to why it hadn’t.” The experiment also thrust El Salvador into the center of the global Bitcoin movement, with many prominent Bitcoiners, including Max Keiser and Stacy Herbert, making Bitcoin country their new home. Herbert later became director of El Salvador’s National Bitcoin Office, showing just how closely intertwined parts of the Bitcoin movement have become with the government.
Bitcoin Beach, the grassroots project in El Zonte that predated the national experiment, is still one of the clearest examples of a functioning Bitcoin economy, with local businesses, hotels and tourism operators continuing to accept Bitcoin, even after the government made acceptance voluntary.
Nakamoto’s reporting has also documented several concrete success stories for everyday Salvadorans, including Mama Rosa, who saves Bitcoin from her pupusa stand, and Napo, who expanded from one taxi to a fleet.
Bukele’s government even went further than simply holding BTC on its balance sheet or making it legal tender by promoting plans for Volcano Bonds and Bitcoin City.
After repeated delays, the IMF agreement effectively kneecapped those projects’ progress, but the symbolic impact still matters. Mow explains:
“Bitcoin gained a proof of concept, and El Salvador gained a global platform.” There’s also an important distinction between what El Salvador achieved for Bitcoin and what Bitcoin achieved for El Salvador.
Boos argues that the symbolic significance has largely been “for” the international Bitcoin community, rather than evidence of economic success “in” El Salvador. Nakamoto says:
“It looks more like a marketing campaign for foreigners than a genuine economic strategy for Salvadorans. It’s beautiful branding, pointed at people with the passports and the capital. Bukele is a razor-sharp operator. He knows exactly who’s watching and who’s clapping. The Bitcoin country strategy, it’s not for them. It breaks my heart to say it, but it’s for us.” The uncomfortable part: Bitcoin and BukelePerhaps the hardest question is what El Salvador’s Bitcoin experiment says about the relationship between Bitcoiners’ ideals of individual freedom and the government that imposed it.
IMF Executive Board approves 40-month fund facility. Source: IMF
Bukele has concentrated power during his time in office, and the state of emergency introduced to combat gang violence in March 2022 remains in place more than four years later.
Human Rights Watch says the government has continued to remove checks on executive power, and local and international human rights groups have documented mass arbitrary detention and due process violations under the state of emergency.
But judging Bukele only through that lens risks missing why he remains so popular at home. El Salvador was once in the grip of powerful gangs, with many Salvadorans living with daily threats of extortion, violence and death. The official homicide rate fell from 53.1 per 100,000 people the year he took office, to just 1.3 per 100,000 in 2025.
Bukele’s crackdown has transformed public security, and many Salvadorans view the trade-off between security and civil liberties very differently from critics abroad. Nakamoto says:
“It’s a country that has serious scars. Bukele has saved the nation in many ways. He kicked out the gangs and also he has done wonderful things for Bitcoin in terms of putting it on the world map.” While Mow acknowledges the positive impact of Bukele’s gang crackdown, he says the broader implications of normalizing emergency powers cannot be ignored:
“In the hands of someone with restraint, those same powers can accomplish real things, like El Salvador’s crackdown on the gangs. But it’s important to think ahead. What serves a leader with restraint today can just as easily serve one without restraint once there’s a change of guard.”For Bitcoiners, that leaves an uncomfortable tension. El Salvador’s Bitcoin experiment has become inseparable from the government that made it possible, and from a president whose record is far more complicated than the Bitcoin success story alone suggests.
That may ultimately be the most difficult part of assessing El Salvador five years on: Bitcoin gave Bukele a global platform, and Bukele gave Bitcoin something it had never had before — a nation-state willing to put it at the center of its economic strategy.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
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XRP se drží u 1 USD, zatímco open interest ve futures vzrostl na 2,67 miliardy XRP, nejvíc od října. To zvyšuje riziko volatility před dnešním CPI v USA.
The Department of Labor Statistics is due to release July inflation data. (Department of Labor)Summary
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
Wednesday’s big story is XRP (XRP), the payments-focused cryptocurrency. Not only did a bridge linking to the XRP Ledger experience an exploit early today, but the token price also hovers near a level that, if breached, could embolden bears.
That level is $1. Prices briefly fell to 99 cents on some exchanges on Tuesday and, while they quickly recovered, the bounce looked to have stalled near $1.02. XRP has lagged behind bitcoin and the broader market recovery in recent days.
What’s more, open interest in XRP futures has risen to 2.67 billion XRP ($2.73 billion), the most since October, from 2.25 billion XRP at the start of the month. This buildup of leverage while XRP trades at this price points to potential volatility.
That means XRP is more vulnerable than other major cryptocurrencies such as bitcoin BTC$63,704.66, ether ETH$1,893.43 and solana (SOL) to the U.S. CPI release later today. A hotter-than-forecast reading would strengthen bets on Fed interest-rate increases and drive already-buoyant Treasury yields higher, creating headwinds for risk assets.
Forecasts point to 0.1% month-on-month growth in the headline CPI for July, up from June’s –0.4% reading. The year-on-year figure is expected at 3.4%, down from 3.5%, and annual core CPI inflation is seen dropping to 2.5% from 2.6%.
According to ING, a softer-than-expected print could weaken the dollar, an outcome that could bode well for the crypto market.
In bitcoin’s case, traders are hoping the report will push the price out of its recent trading range of $62,000 to $66,000. However, the way BTC options are currently priced suggests low expectations for CPI-driven fireworks.
Markus Thielen, founder of 10x Research, said the market is pricing a post-CPI swing of just 1.3%, which is nothing out of the ordinary.
Data tracking website Laevitas made a similar observation: “7d ATM IV [implied volatility] has compressed to 29.1v on BTC and 41.2v on ETH even as a binary July print lands inside the weekly window, so the term structure is declining to price the event risk that sits directly on the tape,” Laevitas said on X.
The fact that expectations remain low could be just the setup for markets to be surprised into action by a potential big beat or miss in the inflation figures. Stay alert!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."
What’s trendingOne overlooked group has added $1.78 billion of selling pressure to bitcoin market (CoinDesk): Bitcoin’s 27% price slide this year isn’t just about ETFs and digital asset treasuries. Public miners have been an under-recognized supply source hitting the market right at the margin.XRP bridge drained for $200,000 after software mistook fake deposits for real ones (CoinDesk): An XRP bridge lost nearly 200,000 XRP, worth about $200,000 at current prices, after a software flaw let an attacker claim deposits that were never made, then withdraw real tokens against the fake balances.Here's what bitcoin and ether traders are doing ahead of the binary U.S. CPI print (CoinDesk): If the July U.S. consumer price index is higher than expected, the Federal Reserve could go for a rate hike in September. Traders are positioning in different ways ahead of the data release. Some are buying upside exposure. Others are focusing on higher volatility.Today’s signalXRP's price chart. (TradingView)The chart shows XRP’s weekly price swings in candlestick format since 2023.
The token’s price peaked above $3.50 in July last year and has been declining ever since. It is now hovering close to $1. A drop under this level would be the first since November 2024, when Donald Trump won the presidential election.
In that case, the July 2023 high of 92 cents, where buyers ran out of steam, could now act as support on the way lower. If that level gives way, the next potential support is seen directly at around 50 cents.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Jun 30, 2026
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Objem obchodování s XRP spadl na několikaleté minimum, zatímco burzovní rezervy klesly ze 4 miliard na 1,6 miliardy XRP, tedy na osmileté dno. XRP se přitom drží kolem 1 USD.
XRP’s trading volume has dropped sharply to its lowest levels in years, according to recent analysis, even as the token continues to hold near the key $1 mark amid significant supply changes.
XRP trading activity sees historic declineCrypto analyst Dark Defender, known for market insights on the XRP ecosystem, released a 12-year volume chart highlighting major trends. The data indicates that XRP volume surged during boom years such as 2017 and 2021 but has since retreated, bringing activity close to its quietest period since the token’s early years.
From 2014 to 2017, XRP saw relatively modest trading activity. Volume spiked dramatically in 2017 as the broader crypto market experienced a rally. A similar surge occurred in 2021, establishing new peaks for XRP’s trading volume.
Recent data for 2026 shows a steady decline, with current volumes matching the subdued levels seen nearly a decade ago. This drop-off comes even as XRP’s price remains stable around $1.
Most market observers interpret the quiet as a lack of interest, but new factors are limiting how much XRP remains available for regular trading.
Dark Defender argued that the reduction in trading activity is not solely due to fading interest, but also reflects changes in XRP’s circulating supply and market dynamics.
One of the main drivers behind the lower trading volume appears to be a sharp decline in XRP held on exchanges. Dark Defender reported that tracked exchange reserves fell from 4 billion XRP to 1.6 billion XRP—settling at an eight-year low. This reduction significantly diminishes the amount of token readily available for active trading.
Additionally, data shows that 992 million XRP are allocated to US spot ETFs. According to Dark Defender, these holdings are effectively removed from regular market circulation, lowering overall liquidity.
A further development highlighted by the analyst is the launch of a $280 million RLUSD vault which now accepts XRP as loan collateral. The facility is projected to grow, potentially encompassing up to 5 billion XRP within six months.
These shifts suggest that a considerable share of XRP is being parked for investment vehicles and collateralized lending, leaving less supply for day-to-day exchange on open markets.
MetricPrevious ValueCurrent ValueXRP exchange reserves4 billion XRP1.6 billion XRPXRP in US ETFs—992 million XRPXRP collateral in RLUSD vault—Potential 5 billion XRP (projected)Dark Defender believes these factors are fundamentally changing the nature of trading activity for the token.
Tokenization accelerates on XRP LedgerDark Defender also pointed to the expanding role of tokenized real-world assets (RWAs) on the XRP Ledger. The analyst noted that $4.3 billion in tokenized assets are now live on the platform, marking a 59-fold increase since January 2025. This growth signals the rising importance of asset tokenization in the ecosystem.
The XRP Ledger is an open-source blockchain developed by Ripple for fast, low-cost global payments. Its support for tokenizing real-world assets lets financial institutions and investors create digital representations of traditional assets directly on the blockchain.
Mini dictionary: Tokenization of real-world assets (RWA): The process of creating blockchain-based digital tokens that represent ownership of physical or traditional financial assets, allowing for increased liquidity and programmable use cases.
According to Dark Defender, this trend accelerates the shift in XRP’s market structure toward long-term holding and specific utility, rather than frequent trading. “Volume dies when coins stop changing hands,” the analyst wrote, suggesting that today’s low volumes should be read in the context of these broader changes.
XRP could increasingly serve as collateral for borrowing, rather than being constantly bought and sold.
As more XRP is locked away for collateral or investment vehicles, the analyst believes volume deserves close attention going forward, especially as the token remains around the psychologically important $1 threshold.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Whale 0x2d59 koupila dalších 50 000 ETH za 93,6 milionu USD a hned je stakovala, čímž navýšila nedávné nákupy na 170 milionů USD. ETH zároveň drží support 1 720–1 780 USD a nad 1 875 USD může mířit k 2 200 USD.
Ethereum traded at $1,887 early Monday, holding above a critical support area despite a cautious overall market tone. The 24-hour trading volume reached $8.05 billion, and the network’s market capitalization now stands at $227.73 billion.
Key support zone holds steadyTechnical analysts noted that ETH has maintained stability within a major buying zone, with $1,720 to $1,780 acting as a floor for recent price swings. Over the last day, the price movement remained relatively muted, though attention focused on potential breakouts and accumulation patterns.
Crypto analyst Nehal stated that ETH’s structure remains bullish as long as it holds this key support zone. A decisive move above $1,875 resistance could open the door for a rally toward $2,200, especially if trading volume accelerates in tandem.
ETH is holding the $1,720–$1,780 buying zone. If support holds and price breaks above $1,875, the path could lead to $2,200 or more.
If the price falls below the support band, traders warn that bearish momentum could build and recovery prospects would weaken for the short term.
Given that a single Federal Reserve decision or a rapid-fire altcoin listing can quickly shift crypto sentiment, market participants are emphasizing streamlined monitoring. Some traders have shifted to privacy-centric tools like CryptoAppsy, which allow real-time charting, smart alerts, curated news, and macro data from a single dashboard without requiring an account. This consolidation aims to ensure traders act swiftly on critical market changes and avoid delays that can prove costly.
Whale accumulates $170 million in ETHOn-chain data provider Lookonchain reported that a wallet tagged as “0x2d59” acquired another 50,000 ETH, valued at $93.6 million, and promptly staked those coins. This purchase comes just a week after the same wallet acquired 40,000 ETH worth $76.66 million, bringing its recent ETH accumulation total to $170 million.
Lookonchain highlighted that whale 0x2d59, who bought 40,000 ETH for $76.66 million recently, added 50,000 more ETH, staking the entire amount.
By sending the tokens to staking, the whale is signaling little interest in selling in the short term. Some traders view this as a show of strong confidence in Ethereum’s long-term technical outlook, even as Bitcoin trends downward and puts pressure on major altcoins.
Staking activity at record highsEthereum staking has set a new milestone, with 41.9 million ETH now locked, up from 36 million at the beginning of 2026. However, recent staking inflows have slowed, with the last week seeing about 28,700 new ETH compared to earlier surges that topped 200,000. Approximately one-third of all ETH is currently staked on the network.
Developers are now considering EIP-8363, the Tapered Issuance Burn proposal, which would gradually reduce staking rewards as the staked ratio increases. If adopted, annual ETH issuance would decline to 0.8% near present staking rates and approach zero should staking reach 50% of circulating supply.
Meanwhile, BitMine, the publicly listed company with the largest ETH balance, holds 5.81 million coins, staking 87% of its holdings. At current reward levels, BitMine’s annual income from staking approaches $257 million, but the company could see future revenues fall if EIP-8363 is implemented. BitMine has not announced any plans to sell its staked ETH.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Fidelity chce do fondu Fidelity Ethereum Fund za 898 milionů USD přidat staking Etherea a čtvrtletní hotovostní výplaty. Za normálních podmínek může stakovat až 100 % ETH.
Fidelity has moved to add Ethereum staking and quarterly cash distributions to its $898 million Fidelity Ethereum Fund, with the trust allowed to stake as much as 100% of its ETH under normal conditions.
Summary
Fidelity plans to add Ethereum staking and quarterly cash payouts to its $898 million Fidelity Ethereum Fund. FETH could stake up to 100% of its ETH under normal conditions while keeping enough ether available for liquidity needs. The fund would retain 85% of gross staking rewards, with the remaining 15% going to the sponsor, custodians and node operators. Net staking rewards would first cover fund expenses before being distributed to shareholders in quarterly cash payments. The U.S. Securities and Exchange Commission filing submitted on Aug. 11 shows that Fidelity amended the fund’s registration statement to include staking, allowing FETH to earn rewards from ether already held by the trust. Fidelity plans to begin staking as soon as practicable after the prospectus takes effect.
Under the proposed structure, Fidelity would not have to stake a minimum amount of the fund’s ETH. While up to 100% could be committed to validators during normal conditions, some ether would remain available when needed for redemptions, fund expenses, distributions, and liquidity management.
The filing defines normal conditions as periods when Ethereum is operating without material disruption, redemption activity remains within expected ranges, and no extraordinary event requires Fidelity to hold additional ETH outside staking.
Fidelity Ethereum Fund could stake up to 100% of its ETH Once Fidelity decides how much ETH can be staked, the fund’s custodians would work with selected node operators to place the assets into Ethereum validators. The custodians would retain control of the private keys, while the node operators would handle the validator infrastructure needed to participate in Ethereum’s proof-of-stake network.
Fidelity named Blockdaemon, Figment and Galaxy Digital Trading Cayman as its intended node operators. Allocation among them would depend on factors including security practices, operating experience, technology and the concentration of the fund’s ETH with individual operators.
Staking rewards would be subject to a flat 15% fee shared among the sponsor, custodians and node operators. FETH would retain the other 85%, according to the filing. After those fees, rewards would first be used for sponsor fees or other trust expenses and liabilities, followed by quarterly shareholder distributions, redemption requirements and additional staking.
The arrangement differs from a staking model proposed by Morgan Stanley in June. As crypto.news reported at the time, Morgan Stanley amended its proposed Ethereum and Solana ETFs so that 95% of staking rewards would stay within the trusts, while staking providers and custodians would receive the remaining 5%.
Morgan Stanley’s filing also detailed some of the operational limits that can affect Ethereum ETF staking. As of May 18, roughly 3.64 million ETH were waiting in Ethereum’s validator activation queue, which the asset manager estimated could translate into a wait of about 63 days before newly deposited ETH began earning staking rewards.
Staking rewards would fund quarterly cash payouts For FETH shareholders, the staking income would eventually be converted from ETH into U.S. dollars. Fidelity said rewards would accumulate in ether until a record date is declared, after which a trading counterparty would sell the ETH available for distribution before the payment date.
Under normal conditions, the fund expects to make those cash distributions quarterly. The exact amount would depend on Ethereum staking yields, validator performance, network rules, fees, expenses, slashing events and other operating conditions, while Fidelity said distributions would not be guaranteed.
Fidelity could suspend a payout when the fund’s liabilities exceed the staking rewards it has received, with those rewards instead retained to cover the trust’s obligations. The sponsor would also set the record and payment dates under the exchange’s rules.
A similar cash payout structure has already been used by Grayscale. In January crypto.news reported that the Grayscale Ethereum Staking ETF distributed $0.083178 per share after earning staking rewards between Oct. 6 and Dec. 31, 2025. The payment totaled about $9.4 million.
Grayscale sold the staking rewards and distributed the proceeds as cash rather than paying investors in ETH. Its Ethereum products began staking in October 2025, with ETHE becoming the first U.S.-listed spot crypto ETP to distribute staking proceeds to shareholders.
BlackRock later chose to launch a separate product instead of adding staking to its existing spot Ethereum fund. Its iShares Staked Ethereum Trust ETF, ETHB, began trading in March and was designed to keep roughly 70% to 95% of its ETH staked through validators operated by Figment, Galaxy and Attestant. Earlier coverage showed that ETHB launched with roughly $100 million to $107 million in assets and generated about $15.5 million in first-day trading volume.
IRS rules cleared a tax path for ETF staking Fidelity’s proposed staking structure relies in part on U.S. tax guidance issued in November 2025. The Treasury Department and Internal Revenue Service introduced Revenue Procedure 2025-31, creating a safe harbor that allows qualifying investment trusts holding digital assets to participate in staking without jeopardizing their treatment as investment trusts and grantor trusts for federal income tax purposes.
The November 2025 guidance addressed a tax issue that had complicated efforts by fund issuers to add staking to products holding proof-of-stake assets such as ETH and SOL. Under the framework, qualifying trusts can earn staking rewards while maintaining their tax classification if they comply with the required conditions.
Fidelity said FETH intends to conduct its staking and liquidity operations in line with the IRS safe harbor. The fund’s investment objective would also be modified so that its performance tracks ether through the Fidelity Ethereum Reference Rate, adjusted for expenses and liabilities, plus an amount tied to staking rewards.
Staked ETH creates additional redemption risks Putting a large share of FETH’s ether into validators would leave part of the portfolio temporarily unavailable for transfers. Fidelity said exiting a validator and completing an Ethereum withdrawal can take about one day under some conditions but could extend to several weeks or months when validator queues or network demand are high.
To manage that risk, the trust would maintain assets that can be readily used for expected redemptions, expenses and distributions. Fidelity has also created a liquidity risk management program that includes daily monitoring of available assets and an annual review by its Fair Value and Liquidity Risk Management Committee.
Possible liquidity sources listed in the filing include credit arrangements, transfers of validator positions to third parties, delayed settlement agreements and, subject to regulatory restrictions, liquid staking tokens or other smart contract-based methods for accessing staked ETH. Fidelity said FETH had not entered into a line of credit as of the prospectus date.
When unstaked ETH is insufficient to complete a redemption on schedule, Fidelity could extend the settlement period while waiting for ether to exit validators. If an in-kind redemption still cannot be completed within a reasonable extended period, the sponsor could instead pay some or all of the redemption in cash based on the fund’s ETH index price on the applicable order date.
The filing also identifies slashing as a risk to the fund’s staked assets. Fidelity said validator failures, protocol errors, cybersecurity breaches involving custodians or node operators and operational failures during reward transfers could reduce the ETH retained by the trust.
Ethereum generuje rekordní počet transakcí, ale na každé transakci vydělává méně; za posledních 30 dní vybral asi 10,3 milionu USD na poplatcích. Analytici varují, že slabá aktivita a odliv stablecoinů mohou vést ke konsolidaci.
Ethereum is generating more transactions than ever while earning less from each one. Average gas prices have cratered to around 0.5 gwei in early 2026, with some periods dipping as low as 0.15 gwei. For context, a gwei is a billionth of one ETH, meaning the cost of transacting on the world’s largest smart-contract platform has effectively become a rounding error.
The paradox of cheap success Ethereum’s scaling roadmap is working exactly as designed. The Dencun upgrade, which rolled out in 2024, dramatically reduced the cost of posting data from Layer 2 networks back to mainnet. The upcoming Fusaka upgrade, expected later this year, promises to push that efficiency even further.
Over a recent 30-day stretch, Ethereum pulled in roughly $10.3 million in transaction fees. That figure puts it behind both Tron and Solana. Ethereum’s blocks are filling to only about 62% capacity on average, which means the network isn’t even close to the congestion levels that historically drove fees higher.
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The practical consequence: less ETH gets burned. When burn rates fall below new issuance, supply expands rather than contracts.
Stablecoins are heading for the exits USDT recorded more than $7 billion in net outflows on Ethereum during Q1 2026. In April 2026, stablecoin transfer volume on the network plunged 42.6% in a single week, even as raw transaction counts surged 41% over the same period.
Ethereum still hosts around $162 billion in stablecoins as of March 2026, roughly 52% of the global supply. But dominance measured in stock doesn’t tell the whole story when the flow is negative.
Historical patterns point to consolidation CryptoQuant analysts have flagged that the combination of low network activity and stablecoin outflows has historically preceded periods of price stabilization rather than sharp moves in either direction.
The deeper structural question is whether Ethereum’s Layer 2 strategy is creating a value-leak problem. Layer 2 networks like Arbitrum, Optimism, and Base process millions of transactions daily at negligible cost, but the economic value that once flowed to ETH holders through burns and validator tips increasingly stays within the L2 ecosystem instead.
Some industry voices have emphasized the urgent need for improved mainnet throughput to recapture higher-value settlement activity. The logic: if Ethereum’s base layer can handle more complex, high-value transactions natively, it doesn’t need to rely on Layer 2 networks for scale, and it can retain more of the fee revenue.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tether během prvních šesti měsíců roku 2026 nakoupil zhruba 27 tun zlata a stal se významným zdrojem dodatečné fyzické poptávky. Spotové zlato mezitím vzrostlo o 0,7 % na zhruba 4 400 USD za unci.
TLDR The USDT stablecoin issuer acquired approximately 27 metric tons of gold during H1 2026, equaling Kazakhstan’s central bank accumulation The precious metal climbed 0.7% to roughly $4,400 per ounce in anticipation of U.S. inflation figures According to Jefferies research, Tether has emerged as “a meaningful source of incremental physical gold demand” The People’s Bank of China extended its gold buying streak to 21 consecutive months in July, purchasing approximately 640,000 troy ounces The yellow metal confronts critical resistance between $4,460 and $4,495, with analysts eyeing $5,000 as the subsequent major milestone The precious metals market is experiencing upward momentum, driven significantly by an unexpected cryptocurrency player and China’s persistent accumulation strategy.
The stablecoin giant behind USDT accumulated over 27 metric tons of the precious metal during the initial six months of 2026. This volume places the company alongside Kazakhstan in the rankings, trailing only Poland, Uzbekistan, and China among the year’s most significant institutional purchasers.
🔥Tether has quietly become one of the world's largest gold buyers:
Tether's gold reserves have increased by ~85 metric tons since Q1 2025, a larger increase than those of Uzbekistan, China, Brazil, or Kazakhstan.
TAP IMAGE TO SEE FULL INSIGHT👇https://t.co/dt5dUkeNoF
— Global Markets Investor (@GlobalMktObserv) August 12, 2026
The rationale behind Tether’s gold acquisitions mirrors traditional central bank strategies. The company seeks portfolio diversification while creating a buffer against inflationary pressures and U.S. dollar depreciation. Given that USDT maintains a peg to the greenback, currency weakness presents direct operational risks.
Research from Jefferies indicates that Tether’s purchasing activity has contributed to the precious metal’s summer rally. Current trading levels hover around $4,420 per ounce, representing approximately 12% appreciation from the early July trough near $4,000.
“Tether is no longer a niche participant, but a meaningful source of incremental physical gold demand,” the Jefferies analysts wrote.
Beyond physical holdings, Tether operates a blockchain-based gold product called Tether Gold, which digitizes ownership rights to physical bullion. The firm’s Q2 Tether Gold reserves increased 9.5% compared to Q1 levels.
According to CEO Paolo Ardoino, investors aren’t simply chasing price appreciation. Instead, they’re strategically accumulating during market corrections through an instrument that offers “fully backed, transparent, portable, and accessible on-chain” exposure.
Precious Metal Gains Momentum Before Critical Inflation Release Spot gold advanced 0.7% to approximately $4,400 per ounce Wednesday as market participants positioned ahead of the Consumer Price Index announcement. The inflation data will likely influence Federal Reserve policy direction.
Interest rate swap markets currently price in roughly even odds for a 25-basis-point rate increase in September. Lower-than-expected inflation could reduce pressure for tightening, whereas elevated readings might strengthen hawkish expectations.
Saxo Bank strategists noted that market participants are monitoring whether the rally above $4,200 possesses sufficient strength to test resistance near $4,460 and the 200-day moving average around $4,495. Clearing these technical barriers could establish a trajectory toward $5,000.
Exchange-traded fund flows into gold products have maintained momentum for five consecutive sessions, elevating aggregate holdings to their highest point in six weeks.
Middle East Instability and Persistent Chinese Demand Bolster Prices Escalating friction surrounding the Strait of Hormuz continues affecting energy markets while providing underlying support for safe-haven assets. Iranian officials maintain the critical shipping lane will remain blocked until Washington removes restrictions on Iranian port access. Elevated energy costs could accelerate inflation, potentially constraining the Fed’s flexibility on rate cuts.
The People’s Bank of China maintained its unbroken purchasing pattern in July, marking the 21st consecutive month of additions and lifting total reserves to 76.08 million ounces. Chinese gold-backed exchange-traded products similarly continued drawing capital inflows.
Tether’s gold accumulation strategy persists despite Bitcoin declining over 25% year-to-date, while Ethereum and Solana have each dropped nearly 40%.
Producer price index data scheduled for Thursday will provide markets with additional inflation insights ahead of the Federal Reserve’s upcoming policy meeting.
Binance ukončí obchodování se 7 spotovými páry: APT/BTC, AR/BTC, A/USDC, BTTC/TRY, CYBER/USDC, LPT/BTC a WAL/FDUSD. Zároveň 13. srpna v 06:00 UTC pozastaví údržbu peněženky na síti TRON, a to vklady i výběry od 05:55 UTC.
Binance, one of the world’s leading cryptocurrency exchanges, announced it will remove and halt trading on seven spot trading pairs in mid-August. The affected pairs are APT/BTC, AR/BTC, A/USDC, BTTC/TRY, CYBER/USDC, LPT/BTC, and WAL/FDUSD. This action follows a routine evaluation of listed pairs, aiming to protect users and maintain a robust trading environment.
Details on Spot Pair DelistingsTrading for the above-mentioned pairs will conclude on August 14 at 03:00 (UTC). Binance conducts periodic reviews, typically delisting trading pairs with reduced liquidity or low trading volumes to ensure the integrity and quality of its marketplace. The company emphasized that the removal affects only specific pairings and does not delist the tokens themselves from Binance or impact trading on other available pairs for those assets.
Spot Trading Bot services for these pairs will also end at the same time. Binance advised users operating such bots to update or cancel them to prevent unexpected losses after the delisting becomes effective.
Binance announced that users can still trade the underlying base and quote assets through other supported pairs on the platform.
Binance regularly evaluates the trading activity and liquidity of all pairs, seeking to delist those that do not meet its listing standards. This practice is intended to protect users from untimely market moves and to maintain efficient, liquid markets.
Six Tokens Set for Complete DelistingIn addition to the spot trading pair removals, Binance plans to fully delist six crypto tokens from all spot trading pairs following its most recent review cycle. The tokens include Across Protocol (ACX), Hashflow (HFT), PIVX (PIVX), Vulcan Forged PYR (PYR), Vanar (VANRY), and Viction (VIC). Spot trading for these tokens will cease on August 17 at 03:00 (UTC).
After August 18 at 03:00 (UTC), deposits for these tokens will no longer be credited to user accounts. Binance will also remove support for withdrawals of these tokens after October 17 at 03:00 (UTC), offering users a two-month window to retrieve their assets.
As part of its ongoing risk management initiatives, Binance recently expanded its Monitoring Tag to include GLMR, ICX, MOVR, RARE, and SOPH. This label indicates assets that are subject to more frequent review due to heightened risk factors or lower trading activity.
Mini dictionary: Monitoring Tag, a label that flags assets on Binance requiring closer observation due to increased volatility, low liquidity, or regulatory concerns. Tokens under this tag are reviewed more often and may face delisting if conditions do not improve.
CategoryDate/Time (UTC)ActionAssets AffectedSpot Pair DelistingAugust 14, 03:00Trading haltedAPT/BTC, AR/BTC, A/USDC, BTTC/TRY, CYBER/USDC, LPT/BTC, WAL/FDUSDToken DelistingAugust 17, 03:00All spot trading pairs removedACX, HFT, PIVX, PYR, VANRY, VICDeposit Support EndsAugust 18, 03:00Deposits not creditedACX, HFT, PIVX, PYR, VANRY, VICWithdrawal Support EndsOctober 17, 03:00Withdrawals disabledACX, HFT, PIVX, PYR, VANRY, VICBinance further reported that it will perform planned wallet maintenance for the TRON network (TRX) on August 13, beginning at 06:00 (UTC). To support this process, both deposits and withdrawals over the TRON network will be paused starting at 05:55 (UTC) and will resume once the maintenance concludes, which is expected to take about an hour.
After wallet maintenance, services for tokens on the TRON chain will become available again as soon as the network is confirmed stable. Binance does not plan to make a further official notice before resuming these services.
TRON is a blockchain-based decentralized platform developed to host decentralized applications and digital content sharing systems, with its native token TRX used for transactions and resource allocation within the network.
Binance recommended that users plan their transactions accordingly to avoid disruptions during the window of limited access.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TL;DRAvengerDAO offers a suite of readily available services offered by participating ecosystem security firms and tools to protect BNB chain users. The core security services include Marketplace, 5-pillar Security Standard and Bug Bounty. 11 security firms are already on board, handpicked by the BNB Chain security team.Projects can contact a partner directly, or ask AvengerDAO's admin team for help. No application needed.Three Years of Falling LossesBNB Chain's security numbers have moved in the right direction for three years straight. Losses fell 85% in 2023, another 69% in 2024, and 56% again in 2025, as AvengerDAO's network of risk scoring, threat alerts, and partner firms caught more threats before they caused damage.
AvengerDAO has anchored that progress since it launched as BNB Chain's security initiative. Now it's expanding into something bigger: a marketplace that gives every BNB Chain project, not just the well-funded ones, access to the same security firms and a shared standard to build against.
What's Actually ChangingAvengerDAO already does real work. Its risk-scoring API feeds threat alerts and contract ratings straight into BscScan and partner wallets, and its member firms served over 38 million risk warnings across platforms like TrustWallet and PancakeSwap in 2023 alone, helping recover $7.3 million from incidents that year.
The relaunch builds on that. Instead of one shared risk feed, projects now get a directory of security firms, each offering its own tools and services, plus a standard every BNB Chain project can build against. 11 security firms are already part of it, handpicked by the BNB Chain security team for their track record on BNB Chain and beyond.
Three Pillars of SecurityAvengerDAO now runs on three pillars designed to give builders a clearer path to stronger security, from development through launch and beyond.
Security Marketplace: Find the Right Security SupportThe AvengerDAO Security Marketplace brings security services and tools from 11 firms into one place.
Builders can compare what each firm offers and contact them directly, without going through an AvengerDAO application process. Teams that are unsure what they need can also ask the AvengerDAO admin team for guidance.
BNB-SS gives builders a practical framework for what good security should look like across five areas:
GovernanceAccess controlOracle integrationsSecure developmentBridge securityInstead of figuring out security requirements from scratch, teams can build against a shared checklist and complete a compliance review. Projects that pass can receive an official BNB-SS security badge. The badge is not a guarantee of safety, but it gives builders a clearer benchmark to work toward and users a stronger signal that core security practices have been reviewed.
Bug Bounty: Keep Testing After LaunchThe AvengerDAO Bug Bounty program gives researchers a direct channel to report vulnerabilities, with rewards based on severity.
For builders, that means security does not stop at an audit or launch. There is an ongoing incentive for researchers to find issues before attackers do.
Together, the three pillars give builders a more practical security path: find the right expertise, build against a clear standard, and keep testing after launch.
Launching on BNB Chain? Start HereIf you're launching on BNB Chain, "get security-ready" now has a starting point. You don't need an existing relationship with an audit firm or a budget for a full audit to get help. The BNB-SS checklist gives you something concrete to check yourself against, and the admin team is there if you get stuck.
For teams that already work with one of the 11 partner firms, nothing about that relationship changes. AvengerDAO doesn't sit between you and your auditor.
For Users: What the Badge MeansThe badge is the visible part. A project that's passed BNB-SS compliance carries a signal that its contracts, bridges, governance, and admin keys have been checked against a real standard, not just self-reported. It doesn't guarantee a project won't fail. No badge does. But it raises the floor for what launching on BNB Chain means, building on a trend that's already three years in the making.
What’s NextA pre-launch security review service is in the works and will be announced separately when it's ready. For now, the marketplace and BNB-SS are the two pieces going live.
Join the BNB Security MarketplaceThe full partner list, the BNB-SS checklist, and how to reach the admin team here.
FC Barcelona přidává do aplikace Barça Mobile digitální peněženku s podporou Stellar Development Foundation, Wirex a Crossmint. Peněženka má nabídnout platby, odměny a budoucí digitální služby.
A Wallet Built Into Barça MobileFC Barcelona's Barça Mobile is adding a digital wallet to its app, backed by a trio of blockchain and fintech partners: the Stellar Development Foundation, Wirex, and Crossmint. The move is being led by New Era Visionary Group, the official telecom operator and partner of FC Barcelona.
These collaborations will support the development of a digital wallet integrated directly into the Barça Mobile app, designed to complement its core mobile services with payments, rewards, and future digital utility for subscribers around the world. Rather than a standalone product, the wallet will form part of the broader Barça Mobile app experience.
It is intended to help subscribers manage digital services in one place, starting with connectivity and extending to payments, loyalty benefits, travel, and future cross-border digital services.
How the Partners Divide the WorkEach partner brings a distinct role to the infrastructure. The Stellar network will serve as the blockchain layer for the wallet, supporting fast and cost-efficient digital transactions and cross-border value transfers. Through its open and globally focused ecosystem, the Stellar network brings the infrastructure needed to support efficient value movement at international scale.
Wirex will provide payments and card infrastructure, giving Barça Mobile subscribers practical, everyday spending functionality. Crossmint, meanwhile, handles wallet technology and user onboarding, simplifying access for fans who may have little prior experience with digital wallets.
New Era Visionary Group is working with all three partners to ensure the digital wallet infrastructure is scalable, secure, and ready for a global fanbase. The partnership reflects a broader trend of major sports clubs embedding financial and blockchain services directly into their fan-facing platforms, rather than launching separate standalone products.
No launch date for the wallet feature has been announced publicly at the time of writing.
Sources:
Wirex: Official announcement on Barça Mobile partnership
DTCC 15. července 2026 dokončila první live produkční obchody s tokenizovanými americkými cennými papíry a využila při nich Chainlink CCIP a CRE. Chainlink zároveň spustil Project Pangea s více než 50 bankami ve 16 zemích pro okamžité vypořádání devizových obchodů.
From Wall Street to Cross-Border BankingChainlink is cementing its position as the backbone of institutional blockchain infrastructure, with a string of high-profile partnerships pointing to growing adoption across traditional finance and crypto-native platforms alike.
The most prominent recent milestone involves the Depository Trust and Clearing Corporation (DTCC). On July 15, 2026, DTCC announced the successful completion of its first live production trades involving tokenized U.S. securities. The driving force behind the trades was Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Runtime Environment (CRE). J.P. Morgan used tokenized shares of the Invesco QQQ Trust ETF as collateral for its margin requirements with CME Group. The initiative involved over 30 major financial institutions, including BlackRock, J.P. Morgan, Goldman Sachs, and Vanguard. DTCC plans a separate tokenization service launch in October.
Project Pangea and Broader Platform AdoptionOn the FX side, Chainlink has moved into cross-border settlement at scale. Chainlink and a multinational consortium of more than 50 banks across 16 countries launched Project Pangea, targeting real-time atomic settlement for the $9.6 trillion-a-day global foreign exchange market via Chainlink rails, Swift messaging, and regulated EUR and KRW stablecoins. The project aims to replace the industry's standard two-business-day settlement cycle with instant, atomic transactions powered by regulated stablecoins and blockchain infrastructure, without requiring banks to abandon their existing systems. The project brings together more than 50 financial institutions, including a coalition of Korean banks led by Shinhan Bank, JB Bank, and Kbank through UniKA, as well as Qivalis, a consortium representing 37 European banks.
Beyond these headline initiatives, Chainlink reports a wave of platform-level integrations. BitGo, Robinhood, Aave, and OKX have all adopted Chainlink infrastructure. Mantle is migrating its $2.5 billion $MNT token to Chainlink CCIP. Lombard Finance is using Chainlink for cross-chain distribution of its Bitcoin credit strategy. And Circle's Arc product has joined Chainlink Scale, giving it access to institutional oracle infrastructure.
Taken together, the deals mark a shift in Chainlink's story: from oracle provider to a broad institutional settlement and interoperability layer that spans both traditional finance and decentralized platforms.
Sources:
DTCC Executes First Production Trades of Tokenized U.S. Securities with Chainlink (Castle Crypto)
DTCC Taps Chainlink for Its Tokenized Collateral Platform Ahead of Q4 Launch (CoinDesk)
Chainlink Launches Project Pangea With 50+ Banks Across 16 Countries for T+0 FX Settlement (The Defiant)
Chainlink zaznamenal pětiměsíční maximum velkých transakcí, když 246 převodů nad 100 000 USD doprovázelo hromadění velryb. Peněženky s 100 000 až 10 miliony LINK nyní drží 46,57 % nabídky.
Chainlink has seen its highest large-holder activity in five months, as whale transactions and the concentration of LINK among major holders both surge significantly. Data from Santiment shows a renewed wave of accumulation by large wallets, reflecting a broader trend rather than a single episode of heightened on-chain movement.
Whale transactions surge alongside rising accumulationOn a recent day, Chainlink registered 246 transactions, each valued at $100,000 or more. This marks a consistent upward trend in high-value LINK transactions since March, reversing low whale activity that had prevailed in the earlier weeks of the year.
Santiment’s analysis highlights that large transfers consist of a variety of internal and external movements, including exchange deposits, withdrawals, wallet shifts, and redistribution between addresses. However, analysts pointed to the increase in supply held by large wallets as a more compelling indicator of investor sentiment than isolated transaction spikes.
Currently, wallets with holdings between 100,000 and 10 million LINK control approximately 466.31 million tokens, equivalent to 46.57% of the total LINK supply. Over recent weeks, this cohort has consistently raised its positions, with a notable jump coinciding with the latest rise in transaction volume.
Wallets holding between 100,000 and 10 million LINK now control 46.57% of the token’s entire supply, marking steady growth in their balances that aligns with the latest surge in whale transaction activity.
Whale behavior as an on-chain sentiment indicatorThe combined increase in whale transactions and the concentration of LINK among top holders is considered by analysts as a key on-chain sentiment measure. Historically, movements in this cohort’s holdings have closely mirrored overall LINK market trends.
A growing concentration of supply among large holders points to strategic accumulation rather than broad-based reduction. Analysts consider this accumulation to reflect a fundamentally robust backdrop for Chainlink, especially as it expands its ecosystem.
Chainlink expands institutional and cross-chain infrastructureChainlink’s adoption continues to grow beyond its established oracle services. The protocol’s Cross-Chain Interoperability Protocol (CCIP) aims to build bridges between different blockchains, enabling seamless asset and data flows.
In addition to CCIP, Chainlink has become increasingly active in tokenized real-world assets, stablecoin infrastructure, institutional-grade data delivery, and advanced cross-chain services. These efforts position LINK in sectors that are drawing growing institutional interest.
For investors closely monitoring technical shifts, especially during periods of structural on-chain accumulation or breakout patterns, efficient access to real-time analytics is crucial. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Despite the surge in whale transfers, crypto analysts caution that a rapid LINK rally is not guaranteed simply by high transaction volumes. The raw metric only tracks abnormally high activity, without revealing the direction—whether buying or selling—of each transfer.
Still, the combination of a five-month high in whale movement and sustained accumulation by leading holders stands out as a notable shift in market structure for Chainlink. If the percentage of LINK controlled by these major wallets continues to rise, the latest bout of on-chain activity could prove more meaningful than a short-term spike.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
