Track market-moving stories before they get noisy

Tl;dr Your Chain, Your Rules. As Arbitrum sees massive adoption by those building applications, infrastructure, and Orbit Chains, we’re hard at work on a variety of technical updates. These updates ensure that the usability, interoperability, and utility of Arbitrum continues to lead the adoption curve. Outlined below is the roadmap we intend to deliver, making your vision of blockchains a reality.

Your Chain, Your Rules.

As we set our (technical) course for the upcoming year, we at Offchain Labs remain steadfast in one of our core values: Your Chain, Your Rules. We continue to believe that blockchains are building a better internet, one with users and developers at the core. Using Arbitrum technology, builders can create powerful onchain apps and vibrant blockchain ecosystems. Users and institutions can safely steward themselves in a natively digital economy. Communities have the power to self-govern.

With this in mind, we encourage everyone interacting with Arbitrum chains to be visionaries, to stay curious, and to move forward with confidence knowing the tech just works.

The Roadmap

When we launched Arbitrum on August 31, 2021 (Arbitrum Day), we tackled the first major hurdle in blockchain adoption: scalability. Over the past three years, we’ve continued to scale, introduced entirely new capabilities, and created the most technically sound and open blockchain platform available.

As blockchain technology expands its reach across industries and gives rise to new ones, builders and users face the very challenges we’re committed to solving: fundamental usability, driving adoption, offering robust decentralization guarantees to users, and an infrastructure layer that just works.

We’re bridging the gap for builders and users by simplifying interactions with Arbitrum chains, driving wider adoption. Interoperability is at our core, allowing seamless navigation between chains using secure technology. We’re abstracting complex decision-making processes about ‘which stack or chain to use’ and creating the unified system.

It’s simple…Your Chain, Your Rules — giving you the freedom to innovate and build on a foundation you can trust.

DevEx, UX, and Adoption

To drive adoption we need to make building on blockchains more expressive, performant, and accessible for developers. Enter Stylus.

Stylus transcends the constraints of building on Ethereum by allowing developers to program in languages that compile to WebAssembly (WASM), like Rust, C, and C++.

Solidity has an important part of our history and an important part of our future as well; Arbitrum’s support for EVM isn’t going anywhere. At the same time, we must recognize that the number of Solidity developers and the corpus of existing code is far smaller than traditional programming languages. Stylus allows us to be more inclusive and welcome in a growing developer base without compromising the EVM experience for those who love it.

Stylus meets the growing need for performant and secure smart contract languages, while simultaneously expanding the design space for increasingly expressive onchain applications. In addition, Stylus is an efficient execution environment leading directly to gas savings for complex smart contracts. With Stylus, computation and memory costs can be significantly cheaper.

And you don’t have to wait…

If you’ve been around the Arbitrum ecosystem for a while, you know some of the biggest ecosystem launches happen on Arbitrum Day. (Well ok ok technically, Arbitrum Day falls on a holiday weekend in the US this year, so we’ll be observing it a few days late).

Arbitrum Stylus will go live on Arbitrum One and Nova mainnet on Arbitrum Day ushering in a new phase of innovation across the ecosystem and make the developer and user experiences even better. It’s the biggest execution layer upgrade to ever hit our industry.

Decentralization

The core ethos of blockchain technology, which values decentralization and trustlessness, is core to everything we build at Offchain and our future development plans for the Arbitrum technology stack. We are working on a number of near-term and future developments to strengthen foundational infrastructure, ensuring decentralization remains not just a theoretical concept, but a practical reality in the ecosystem:

BoLD (H2 2024): In addition to improved security, BoLD enables safe decentralized validation and moves Arbitrum closer to being a Stage 2 rollup, the final stage in L2 Beat’s stage definitions.Censorship Timeout (H2 2024): Building upon BoLD, Censorship Timeout limits the negative impact to Arbitrum chains from a repeatedly censoring or offline sequencer, potentially due to an attack. This provides stronger guarantees of censorship resistance to Arbitrum chains, and improves user fund access.Decentralized Sequencer (likely 2025): Decentralizing the Arbitrum sequencer is the last step in Arbitrum’s decentralization roadmap. A decentralized sequencer distributes the responsibility of transaction ordering across a broader, decentralized network of participants, reducing the risk of censorship attacks and enhancing reliability.At Offchain, we believe in the core ethos of blockchain tech and build products for decentralized adoption. The features mentioned in this post can be adopted by Arbitrum Orbit chains when available, or the Arbitrum DAO can vote in any or all of these technical upgrades to the chains it governs (Arbitrum One and Arbitrum Nova).

Interoperability and Horizontal Scaling

The introduction of Arbitrum Orbit ushered in a new era, empowering teams to innovate solutions for their own specific use cases. Arbitrum Orbit allows developers to customize their chains in any way they see fit. Our guiding principle remains: Your Chain, Your Rules. As builders focus on pushing boundaries, we’re committed to implementing significant performance and interop improvements by tackling fundamental engineering challenges. Our long-term strategy combines vertical and horizontal scaling efforts, enabling developers to accomplish more.

To unify the Arbitrum Ecosystem (Arbitrum Orbit, Arbitrum One, Arbitrum Nova, and Ethereum) we’re building towards frictionless interoperability between chains rooted in fast communication. Optimistic rollups offer the lowest cost and greatest flexibility, but their main barrier to horizontal scaling is the confirmation delay introduced by the challenge period. Longer confirmation time means that worst-case cross-chain communication may require days or alternatively placing trust in 3rd-parties.

We’re working on several interop solutions that will reduce these confirmation delays and enable horizontal scaling:

Fast Withdrawals (Q3 2024):The imminent release of Fast Withdrawals will enable AnyTrust chains to bypass the confirmation delay, and settle to their parent chain within minutes. These fast confirmations will enable sibling L2s (or L3s) to communicate quickly with one another, thereby enabling developers to shard workloads and scale horizontally.Chain Clusters(2025): Looking ahead into next year, we plan to further expand the toolbox of developers to horizontally scale Orbit chains with the release of Chain Clusters. By allowing multiple Orbit chains to closely align their ecosystem and infrastructure, Chain Clusters can be used to reduce cross-chain communication time from minutes to near-instant.Performance and Efficiency

From the very beginning, back in 2014, Arbitrum’s design has focused on performance and efficiency. Now, we’re looking to deliver the next iteration of enhancements in compute efficiency and performance with fundamental optimizations to execution.

Multi-client support (H1 2025): Arbitrum Nitro is the node software that powers all Arbitrum-based chains and is built on Geth, a Golang implementation of the execution specification for L1 Ethereum. Since the debut of Arbitrum Nitro back in August 31, 2022, many new Execution Layer (EL) client implementations have launched or improved significantly — all with varying and unique value propositions and optimization targets. As the stability and quality of these alternative clients have improved, Offchain Labs has been working towards readying the Arbitrum stack to support alternative clients.When we evaluate other clients, our main objective is to optimize at-head block production speeds which over time will (1) reduce the hardware cost of existing node operators and (2) pave the way for the safe increase of the speed limit (i.e. target throughput) on Arbitrum chains.

We have already begun testing and evaluating performance and benchmarks for several clients including Paradigm’s newly released Reth 1.0, Erigon 3.0, and Nethermind with the goal of delivering a production-ready multi-client implementation in 2025 and streamlining the process of adding additional clients down the road. Although our current analysis suggests that some alternative clients are still behind Geth in a few performance benchmarks, we believe that it’s prudent to ready the path for Arbitrum adoption as these clients further optimize.

Adaptive Pricing (H1 2025): On current EVM chains, gas limits are set to prevent nodes from over-consuming the most scarce computational resource. This means that the gas limit for a chain is always a worst-case assessment, designed to protect against a transaction load that uses a node’s most constrained resource.In contrast with a worst-case approach, Adaptive Pricing considers the actual resources being used and dynamically sets the gas limit accordingly. With Adaptive Pricing, the chain will only raise fees and throttle down resource consumption when a particular resource is approaching its actual limit, as opposed to a hypothetical maximum of what resources a different transaction might have used.

Adaptive Pricing will further enable scaling by allowing smart contracts to more efficiently use the full resources made available by nodes, and operate much closer to the true gas limit. Overall performance will increase without increasing the capacity of the network’s nodes. Adaptive Pricing also improves resilience versus extreme traffic patterns (e.g. inscriptions), where usage patterns change radically, but temporarily, by dynamically lowering gas limits only when necessary.

Zero-knowledge proofs

Offchain is committed to scaling Ethereum with the best possible technology stack. By constantly working at the limits of available technology, we can identify improvements to deliver into our scaling solutions. While today it’s clear that from the perspectives of stability, maturity, cost, and security, Arbitrum Nitro is the best stack to scale Ethereum, our research team has identified several paths where we can incorporate productive uses of zero knowledge (ZK).

In his 2023 medium post as well as recent talks at EthCC and SBC, our Chief Scientist Ed Felten presented a hybrid construction for how ZK can be integrated into Arbitrum chains. One particular area of active research studying ZK:

ZK+Optimistic Hybrid Proving: In the Arbitrum rollup and dispute resolution protocol, ZK proofs could eventually be used to instantly confirm assertions, acting as an optional and fast path to confirmation on the parent chain. Optimistic proving could still be used if ZK proofs are not provided. This enables users and developers on Arbitrum chains to access very fast native interoperability on an as-needed basis.Always Looking Ahead

At Offchain we are committed to creating solutions before problems arise. The monumental efforts to build three products ready for deployment this year — Stylus, BoLD, and Timeboost (click to learn more) — are proof points of Offchain Labs our research team is leading from the front. These innovations will make blockchains more accessible and support core values of decentralization.

Our deep bench of researchers, engineers, product managers, partnerships, marketers, and operations professionals push the boundaries of what can be done in this space. We build our products for you to innovate with the assumption that your infrastructure just works.

There is a lot more on the roadmap, but we wanted to share some of the mountains you’ll start to see moving in the near term.

Jito Finance [JTO] has quietly ranked among the market’s bullish tokens, holding its strength against the odds stacked up against most altcoins.

The asset surged roughly 11% over the past few days as sentiment shed some of its bearish pressure, extending a run that has delivered 131% across the past 90 days. This fresh surge, however, warrants a closer look in the short term, particularly on whether it can hold.

On-chain capital powers Jito’s recent surge Investor capital flowing into the protocol ranks among the factors driving Jito’s recent performance.

The Total Value Locked (TVL) climbed sharply over the past three days, rising by more than $44.12 million to reach $768.78 million at the time of writing.

A rising TVL often signals investors holding a long-term outlook on price, while also expecting to earn the yield attached to the locked capital.

Source: DeFiLlama The protocol’s own output points to another reason behind the token’s recent strength. Earnings data, which tracks gross profit excluding incentives, shows Jito has already booked roughly a third of its entire Q2 earnings just two months into Q3.

Total earnings have reached $489,140 at the time of writing, set against the $1.48 million booked through Q2, a solid mark for the protocol. Should Jito keep building on this, it would lend meaningful support to the token’s price and help the asset sustain the tempo of its rally.

Perpetual flows stay positive The perpetual market points to growing bullish appetite, with investors leaning long at a steady pace.

Capital tracked across the past 5 days, 3 days, and 24 hours shows inflows outpacing outflows, coming in at $109,920, $1.90 million, and $1.05 million.

These inflows tend to support price when the funding rate climbs alongside them. CoinGlass data showed the funding rate holding a moderately bullish position.

Source: CoinGlass The Funding Rate hit 0.0062% at the time of this report, while perpetual capital stood at roughly $41.08 million, pointing to more long positions than short ones.

Capital concentrating in favor of longs alongside a moderate inflow into the perpetual market often suggests the market has not overheated and price could hold up.

Jito’s Spot selling remains the caveat A sustained price rally typically needs simultaneous inflows into both the perpetual market and the spot market. Spot market data shows heavier selling as investors decline to hold the asset and take advantage of the rally to exit.

Source: CoinGlass The past day logged a netflow of $89,400, with the selling trend running for three consecutive days.

Spot selling without matching demand from perpetual traders would eventually weigh on price in the near term,  causing a decline.

Final Summary Jito’s rising TVL and strong Q3 earnings pace point to on-chain momentum behind JTO’s 11% surge, backed by positive perpetual inflows and a moderately bullish Funding Rate. Three straight days of Spot outflows signal that traders are selling into the rally, a demand gap that could weigh on JTO’s price if it persists.

@LayerZero_Core processed $6.195 billion in bridge volume over the past 30 days, according to @DefiLlama, yet the protocol retained just $131,592 in revenue and generated $121,095 in fees during that period. The numbers highlight a structural feature that is central to LayerZero's design: the protocol takes a 0% cut of its own messaging fees.

How the Revenue Model Works Rather than charging users directly for cross-chain messages, LayerZero takes a 0% protocol take rate on messaging fees, with protocol revenue instead funded by $ZRO buybacks sourced from the Stargate ecosystem allocation. Approximately 100% of messaging fees flow to DVNs and Executors, the external node operators that secure and deliver cross-chain messages.

Revenue generated by @StargateFinance, specifically fees collected from cross-chain swaps and transfers, is used to purchase $ZRO on the open market. For the first six months after Stargate's acquisition, revenue was split 50/50 between $ZRO buybacks and veSTG holders. That split ended in March, and starting April 2026, 100% of Stargate revenue goes to buying $ZRO.

Revenue Is Declining Quarter on Quarter Despite the volume figures, revenue generation has compressed sharply. Quarterly revenue has fallen from $1.14M in Q1 to $172.8K so far in Q3, a decline that reflects both softer market conditions and the protocol's deliberate choice to keep its fee take at zero.

LayerZero is currently in a state of having a large amount of traffic but no direct charges, a trade-off that has drawn scrutiny from analysts. The current monthly buyback of approximately 150,000 $ZRO tokens remains relatively small compared to monthly token unlock pressure, meaning a true valuation reassessment may need to wait for larger-scale revenue generated after a potential protocol-layer fee switch.

The broader context is that LayerZero acquired @StargateFinance for roughly $110 million in August 2025. LayerZero redirected Stargate DAO's revenue streams, previously allocated to STG stakers, toward $ZRO buybacks. The goal, as stated by the protocol, is to connect Stargate's fee income directly to $ZRO holder value over time. Whether the current revenue trajectory is sufficient to support that thesis remains an open question.

Sources:
LayerZero TVL, Fees and Revenue, DefiLlama
Understanding ZRO Buybacks, LayerZero
The ZRO Token, LayerZero

Hyperliquid, the Layer 1 blockchain that has quietly built one of the most active decentralized exchanges in crypto, now supports tokenized US equities through an integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The move brings xStocks, which are 1:1 backed tokenized versions of US stocks and ETFs, onto Hyperliquid’s spot trading infrastructure.

How the plumbing works Chainlink’s CCIP serves as the connective tissue between Hyperliquid and the broader multi-chain ecosystem. The protocol handles cross-chain token transfers through a burn-and-mint mechanism, meaning tokens aren’t just copied across chains. They’re destroyed on one side and recreated on the other, keeping supply in check.

Hyperliquid runs two layers: HyperCore, a custom-built order-book engine, and HyperEVM, an Ethereum Virtual Machine compatible environment. CCIP bridges the gap between HyperCore’s native tokens and ERC-20 tokens on HyperEVM, allowing assets from other chains to plug into Hyperliquid’s trading system.

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The cross-chain infrastructure also leverages xBridge, which initially focused on Ethereum-to-Solana transfers before expanding to support Hyperliquid. Together, CCIP and xBridge create a pipeline for tokenized assets to move across chains and land on Hyperliquid’s spot markets.

At least 10 xStocks tickers have registered for spot trading on the platform following auction processes, according to community reports. Tickers like AAPLx and NVDAx give users direct exposure to the underlying equities without leaving the DeFi ecosystem.

What xStocks actually are xStocks are tokenized representations of US equities and ETFs developed by Backed Finance, which is part of the Kraken Group. Each token is backed 1:1 by the corresponding underlying asset, meaning one AAPLx token represents one share of Apple stock held in reserve.

Until now, Hyperliquid was primarily known for perpetual futures trading, where it has carved out a dominant position among decentralized exchanges. Adding tokenized equities to its spot markets represents a meaningful expansion of its product surface area.

Why this convergence matters The CCIP integration on Hyperliquid has been live since July 2025, giving the infrastructure several months to stabilize before the xStocks rollout gained traction.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Hyperliquid [HYPE] faced intensifying selling pressure following a $2.03 million KuCoin whale deposit, as positive netflows strengthened exchange-side supply concerns. 

The exchange-bound transfer increased available supply while HYPE attempted to stabilize following its broader decline. The whale deposited 37.39K HYPE, worth approximately $2.03 million, to KuCoin six hours earlier. 

The same wallet also transferred 290.75K USDC, worth roughly $290.65K, to Kraken one hour earlier. However, the HYPE transaction carried greater significance because it directly increased exchange-bound token supply. 

Exchange deposits often expand immediately tradable supply, although they do not confirm completed sales. Therefore, the transaction strengthened distribution concerns rather than proving the whale had already sold. More importantly, broader spot flows supported the same direction, giving the transfer stronger bearish context.

Spot inflows strengthen the selling case Exchange flows had already shifted toward the supply side as the whale moved HYPE onto KuCoin. 

Spot Netflow reached approximately $1.24 million at press time, confirming inflows exceeded outflows during the latest recorded period. Previously, HYPE had registered substantial negative netflows, including several pronounced outflow spikes around late July. 

Those readings reflected tokens leaving exchanges and reduced the immediately available exchange supply. However, the latest positive reading marked a change from that withdrawal-heavy activity. 

The whale’s $2.03 million deposit reinforced the shift because both metrics pointed toward increased exchange availability. Although one positive session could not erase previous outflows, current conditions clearly favored incoming supply. 

Thus, the latest exchange activity gave sellers a stronger near-term position. Continued positive netflows would increase pressure on buyers to absorb additional HYPE supply.

Source: CoinGlass Whales stay active as retail participation cools Large traders had maintained their presence while broader market participation weakened across HYPE’s spot market. 

The Spot Average Order Size registered Big Whale Orders, highlighting continued activity from larger market participants. 

Meanwhile, the Spot Volume Bubble Map was cooling, pointing toward weaker participation across the wider spot market. This divergence gave whales greater influence over HYPE’s immediate market direction. 

Notably, exchange activity provided a bearish direction to their growing influence. Positive spot netflows reached $793.92K, while one whale deposited $2.03 million in HYPE to KuCoin. 

Therefore, whale activity increasingly favored the supply side as broader participation cooled. Retail demand appeared less capable of counterbalancing incoming exchange supply under those conditions. 

Unless broader participation strengthens, whale-driven exchange inflows could keep sellers dominant and restrict HYPE’s recovery.

Source: CryptoQuant Improving MACD gives HYPE a recovery chance Despite stronger supply pressure, HYPE defended $53.67 and preserved an opportunity for another recovery attempt. 

Price reached approximately $54.65 after rebounding from the lower area of its descending structure. Yet, the descending trendline continued restricting upside progress below the $57.10 resistance. 

MACD had improved during the rebound, adding some technical support for buyers. At press time, its line reached -1.93, above the -2.23 signal line, while the histogram climbed to 0.30. Both MACD lines remained below zero, however, leaving the broader recovery unfinished. 

RSI had reached 43.42, above its 39.57 average, but remained below the neutral 50 threshold. A sustained recovery could challenge $57.10 and potentially expose $62.48 afterward. Failure around resistance would keep $53.67 vulnerable, while a breakdown could reopen $51.09.

Source: TradingView Final Summary HYPE exchange inflows and whale activity currently give sellers the stronger near-term position. Holding $53.67 keeps recovery alive, but $57.10 remains the crucial upside hurdle.

Ripple has voted to support two XRP Ledger amendments designed to introduce single-asset vaults and fixed-term institutional lending directly at the network’s protocol level.

Summary

Ripple’s validator voted “yes” on XLS-65 and XLS-66, supporting native vaults and lending. XLS-65 has reached 40% validator support, while XLS-66 has secured more than 37%. Both amendments require over 80% support for two consecutive weeks before activation. The framework could support loans funded with XRP, RLUSD, and other XRPL-issued assets. Ripple’s validator has backed the Single Asset Vault and Lending Protocol amendments as voting continues among trusted XRP Ledger validators.

🚨BREAKING: RIPPLE VOTES TO ADVANCE SINGLE ASSET VAULT (XLS-65) AND LENDING PROTOCOL (XLS-66)

Ripple voted in favor of Single Asset Vault (XLS-65) and Lending Protocol (XLS-66) amendments, moving them closer to enabling on the XRP Ledger.

Meanwhile, 39% of validators have now… pic.twitter.com/nKGaagryP2

— Rednirav (@CryptoRednirav) August 10, 2026 XLS-65, which would introduce Single Asset Vaults, has reached approximately 40% support. XLS-66, covering the proposed Lending Protocol, has received more than 37% support, according to the latest voting data.

The current totals remain well below the activation threshold. An amendment must maintain support from more than 80% of trusted validators for two continuous weeks before it can become active on the XRP Ledger mainnet.

Based on the current default Unique Node List configuration, the proposals would need support from at least 28 of 35 validators. Ripple’s vote therefore moves the amendments forward but does not establish an activation date.

The vote follows the amendments’ entry into the formal validator process earlier this year. As crypto.news previously reported, XLS-65 and XLS-66 are intended to provide lending infrastructure at the ledger level rather than through external smart contracts.

Validators can independently decide whether to support an amendment. Ripple’s vote carries attention because the company remains a major contributor to XRPL development, but it cannot activate the proposals by itself.

How XLS-65 and XLS-66 would work XLS-65 would establish a standard structure for pooling one type of asset from multiple depositors. A vault could hold XRP, Ripple USD (RLUSD), or another token issued on XRPL while giving depositors proportional shares representing their claims on the pooled assets.

The vault could then supply liquidity to other services, including the proposed Lending Protocol.

XLS-66 would use liquidity held in those vaults to fund fixed-term loans. Unlike many decentralized lending markets, the proposed system would not require every borrower to provide more collateral than the value of the loan.

Institutions would instead conduct credit checks, compliance reviews, legal assessments, and underwriting off-chain. The XRP Ledger would manage the agreed loan terms, including interest, repayment schedules, servicing, and default records.

Loan brokers would connect borrowers with vault liquidity and manage the credit relationship. A first-loss capital mechanism could absorb an initial share of losses if a borrower defaults, offering some protection to vault depositors.

The separation between off-chain underwriting and on-chain execution is meant to accommodate regulated lenders that cannot rely entirely on anonymous borrowers and automated liquidations. For U.S. institutions, using the protocol would not remove obligations arising from lending, securities, consumer protection, sanctions, or anti-money laundering rules.

Instead, the ledger would serve as settlement and record-keeping infrastructure after participating institutions complete the required checks.

Security review clears major lending flaws The lending code has undergone several security reviews ahead of the validator decision.

Blockchain security firm Halborn completed a re-audit covering transaction checks, accounting rules, access controls, parameter limits, and consistency between protocol states. The review found no critical or high-risk vulnerabilities.

Halborn identified five issues: one medium-risk finding, two low-risk findings, and two informational findings. Ripple addressed, accepted, or acknowledged all five, according to the audit report.

“We are proud to share that we have completed our XRP Ledger Lending Protocol Re-Audit for Ripple,” Halborn said when announcing the review.

The medium-risk issue involved a way loan interest could cause a vault to exceed its maximum asset limit. Ripple resolved that finding, along with a low-risk issue involving a missing freeze check.

The audit does not eliminate default, underwriting, liquidity, or implementation risks. However, it cleared another technical requirement as validators assess whether the amendments are ready for mainnet use. crypto.news covered the re-audit in June.

XRP Ledger applications prepare for activation Developers are already testing possible applications on XRPL’s Lending DevNet while the amendments await approval.

Yield protocol SOIL has said it plans to become one of the first applications built on the Single Asset Vault and Lending Protocol framework. Its proposed products include lending markets, yield strategies, and tokenized fixed-income instruments.

A demonstration showed users depositing assets into separate vaults and receiving tokens representing their proportional ownership. However, the system remains in a development environment and cannot launch on the mainnet unless validators approve both amendments. crypto.news previously reported on SOIL’s preparations.

Ripple-backed XRP treasury company Evernorth has also identified the lending framework as a possible way to earn institutional-grade returns on its holdings. Actual yields would depend on borrower demand, credit quality, vault terms, and protocol adoption after launch.

The vote comes alongside the release of XRP Ledger version 3.3.0, which includes work on lending, confidential transfers, transaction batches, sponsored fees, and configurable token features. Those changes also require validator approval and should not be treated as active mainnet functions solely because their code has been released.

As crypto.news reported, node operators must upgrade their software and consider each amendment separately.

XRP traded near $1.02 at the time of writing, down about 2.2% over 24 hours and 5.7% during the past week. The validator vote did not produce an immediate positive price reaction, suggesting traders remain focused on whether the amendments can reach the required threshold and generate real lending demand after activation.

Robinhood Chain generated roughly $3.6 million in transaction fees in its first month of operation, making it the top revenue-producing Layer-2 network across the entire Ethereum ecosystem. That figure accounted for approximately 38% of the estimated $6.3 million in total fees collected across major L2 networks during July.

Robinhood Chain launched its public mainnet on July 1, 2026.

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How a brokerage outpaced crypto-native L2s Robinhood Chain is built on Arbitrum’s technology, making it an Ethereum-compatible rollup. The network supports 24/7 trading of tokenized stocks and decentralized finance applications. Reports indicate daily trading volumes reaching into the hundreds of millions of dollars shortly after launch, with tens of millions of individual transactions processed within the first two weeks alone.

Some estimates suggest its share of total L2 fees may have been as high as 56%, depending on which networks are included in the denominator.

Under the Arbitrum Expansion Program, Robinhood allocates 10% of its net protocol revenue back to the Arbitrum ecosystem. Of that 10%, 8% goes to support ARB token holders and 2% flows to ecosystem developers. The remaining 90% is retained by Robinhood.

The Ethereum revenue problem, amplified In the early days following Robinhood Chain’s launch, Ethereum’s mainnet received only a few thousand dollars in fee transfers from the new L2.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

TLDR: SharpLink reported a $394.3 million net loss in Q2 2026 despite $11.5 million total revenue. Unrealized ETH losses of $321 million and $76.1 million in impairments drove the quarterly loss. SharpLink’s ETH holdings rose to approximately 888,938 tokens as of August 3, 2026. The company launched a $125 million Galaxy SharpLink Onchain Yield Fund after Q2 ended. SharpLink, Inc. (Nasdaq: SBET), one of the largest publicly traded Ethereum treasury companies, reported total revenue of $11.5 million for the second quarter of 2026. 

The company posted a net loss of $394.3 million for the period. Staking revenue reached $11.2 million, reflecting the company’s actively managed Ethereum treasury strategy. 

SharpLink held approximately 886,881 ETH as of June 30, 2026, with holdings rising to about 888,938 ETH by August 3, 2026.

Second Quarter Financial Performance SharpLink’s total revenue for the three months ended June 30, 2026, grew significantly from $0.7 million in the same period last year. 

The increase stemmed largely from the company’s ETH treasury strategy, which launched in June 2025. 

Selling, general and administrative expenses rose to $9.1 million, compared with $2.4 million a year earlier.

SharpLink Reports $394M Q2 Loss as ETH Staking Revenue Reaches $11.2M

SharpLink, the second-largest publicly traded Ethereum treasury company, reported Q2 revenue of $11.5 million, including $11.2 million from ETH staking, and a net loss of $394.3 million. The loss included… pic.twitter.com/wWT5eBsWhC

— Wu Blockchain (@WuBlockchain) August 10, 2026

The company’s net loss of $394.3 million compares with a net loss of $103.4 million in the second quarter of 2025. This increase was driven primarily by non-cash unrealized losses and impairment charges. 

SharpLink recorded an unrealized loss of $321.0 million tied to Ethereum market conditions during the quarter.

Additionally, the company recorded a $76.1 million impairment charge on its LsETH and weETH holdings. 

SharpLink noted these charges are non-cash accounting adjustments that do not reduce actual token holdings. 

However, impairment charges lower the carrying value of these assets under U.S. GAAP and are not reversed later.

Cash and cash equivalents totaled $56.2 million as of June 30, 2026. This figure compares with $28.5 million reported at the end of December 2025. Crypto assets totaled approximately $1.4 billion on a GAAP basis at quarter’s end.

Treasury Management and Ecosystem Investments On June 23, 2026, SharpLink completed a $75.0 million registered direct offering. The transaction included 10,013,351 shares of common stock alongside accompanying warrants. Proceeds from the offering helped fund the purchase of roughly 10,000 additional ETH tokens.

SharpLink also repurchased about 2.1 million shares during the quarter, spending approximately $10.0 million. 

Since starting its buyback program in August 2025, the company has repurchased 4,071,223 shares. The total cost of these repurchases has reached approximately $41.7 million to date.

Chief Executive Officer Joseph Chalom said the company remained “highly active across both treasury management and Ethereum ecosystem development” during the quarter. 

He pointed to accelerating institutional adoption and expanding onchain activity as signs of broader momentum building across the network.

Beyond treasury management, SharpLink announced anchor funding for three ecosystem organizations. EthLabs focuses on core protocol development and scaling for institutional adoption. 

Ethereum Institutional serves as a front door connecting banks and asset managers to Ethereum, while EthSystems develops privacy and compliance infrastructure for regulated institutions.

Chairman Joseph Lubin, also Consensys CEO and an Ethereum co-founder, said the network is “moving from an era of proving the technology to putting it to work” as financial infrastructure.

SharpLink also joined the Russell 2000 and Russell 3000 indexes during June’s reconstitution. After the quarter closed, the company launched the Galaxy SharpLink Onchain Yield Fund. 

The fund carries $125.0 million in committed capital, split between SharpLink and Galaxy Digital.

TRON, the layer-1 blockchain founded by Justin Sun, ended the second quarter with $87.9 billion in circulating USDT (USDT), surpassing Ethereum (ETH) while processing $2.1 trillion in USDT transfers during the period.

According to a Messari report, USDT accounted for 98.5% of TRON’s stablecoin market, which grew 4.1% quarter-over-quarter to a record $89.2 billion. Average daily USDT transfer volume also returned to growth, rising 4.3% to $22.8 billion after declining in the first quarter. 

The increase coincided with record network usage. TRON averaged 11.8 million daily transactions during the quarter, up 8.7%, while average daily active addresses climbed 11.7% to 3.6 million. The network processed a record 14.6 million transactions on June 15, the report said.

State of TRON Q2 2026 report. Source: Messari

Higher activity also helped reverse a two-quarter decline in network fees. Fees rose 15.9% to $699.4 million, their first quarterly increase since an August 2025 governance change cut the network’s energy unit price. 

Growth was uneven elsewhere. DeFi TVL slipped 1.9% to $4.4 billion, while average daily DEX volume fell 21.7% to $49.3 million, marking a fourth consecutive quarterly decline. TRX supply also remained inflationary despite higher activity, with circulating supply increasing by 87 million tokens during the quarter as issuance continued to outpace burns.

TRON expands institutional accessInstitutional access to TRON widened during the quarter, with Securitize launching Hamilton Lane’s tokenized Senior Credit Opportunities Fund on the network, its first TRON-issued asset. The fund launched with about $4.3 million under management. 

Asset manager Grayscale also added TRX (TRX), the native token of the TRON blockchain, to its list of assets under consideration, while a proposed staked TRX exchange-traded product from Canary Capital remained in registration.

Meanwhile, TRX saw broader market access during the quarter. Bitnomial launched spot TRX trading in the United States, while OKX Europe introduced MiFID-regulated TRX expiry perpetuals and Binance.US restored trading in the token.

That trend continued after the quarter ended, with Anchorage Digital adding native TRX staking and custody for TRC-20 assets in July, allowing institutional clients to stake TRX directly from its custody platform.

Magazine: Bitcoin will never fall below $60K again: Nansen founder

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3 hrs ago

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President Donald Trump at the White House (Jesse Hamilton/CoinDesk)Summary

Trump Media held 9,477 bitcoin at the end of June, down from 9,542 at the end of 2025, while the position's fair value fell to $557 million from $836 million.The company recorded $360.6 million in losses on digital assets and digital assets pledged during the first half of 2026, much of it unrealized.The results come days after Trump Media and Crypto.com scrapped plans for a publicly traded CRO treasury company and abandoned a separate ETF servicing partnership.Trump Media and Technology Group's (DJT) bitcoin holdings shrank during the second quarter of the year as falling crypto prices saddled the Truth Social parent with $360.6 million in losses in the first half of the year.

The company held 9,477.16 bitcoin BTC$63,940.84 with a fair value of $557.1 million as of June 30, according to its quarterly filing Monday. That's down from 9,542.16 BTC at the end of March, translating to a 65 BTC decline in holdings through the quarter.

Trump Media's Crypto.com-linked cronos CRO$0.04685 holdings remained unchanged at roughly 756.1 million tokens, but their fair value fell to $40.6 million from $68 million at the end of 2025.

A significant chunk of the company's bitcoin was also tied up as collateral. Trump Media, which is majority owned by the Donald J. Trump Revocable Trust, had 4,260.73 BTC pledged against convertible notes and another 2,077.34 BTC pledged for its bitcoin options strategy as of June 30.

U.S. President Donald Trump owns a significant stake in the trust, which is controlled by Donald Trump, Jr., one of the president’s children.

The results landed only days after Trump Media pared back parts of its crypto ambitions.

On Friday, Trump Media, crypto exchange Crypto.com and Yorkville Acquisition said they mutually terminated their proposed business combination to establish Trump Media Group CRO Strategy, a publicly traded company designed to build a large CRO treasury.

The companies cited "prevailing market conditions, and shifting business and stakeholder priorities." They also abandoned a separate partnership under which Crypto.com would have serviced certain planned Yorkville America exchange-traded funds, though Yorkville America said its existing and future ETF plans otherwise remain unchanged.

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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.

Aave Loan Book Crosses $11.3 BillionActive loans on @aave have climbed past $11.3 billion, up from roughly $10 billion a month ago, according to protocol data tracked by DefiLlama. The roughly $1.3 billion increase in a single month points to sustained demand for decentralized borrowing, even as broader crypto markets have pulled back from late-2025 highs.

DefiLlama data shows Aave currently holds approximately $11.4 billion in active loans, with total value locked on V3 sitting at around $14.2 billion, up roughly 8% over the past 30 days. The original copy puts that TVL figure at $14.67 billion across the full protocol, with a 7.4% 30-day gain, alongside $27.1 million in fees for the period.

Aave V3 operates across 22 chains, with Ethereum holding the largest share at 82.9% of TVL. That multichain footprint has been central to the protocol retaining its position as the dominant DeFi lending venue despite growing competition.

Morpho Closes the Gap, But Aave Leads by a Wide MarginMorpho remains Aave's closest competitor by deposits. DefiLlama places Morpho Blue at roughly $7.95 billion in TVL, compared to Aave's $14.67 billion, leaving a gap of more than $6 billion between the two protocols.

The gap between Aave and Morpho has been narrowing every quarter since 2024. Morpho's growth has been driven largely by its modular architecture. Aave V3 operates as a monolithic pool where every supplier shares one liquidity contract per chain and the protocol sets risk parameters governance-wide, while Morpho took the opposite path, building Morpho Blue as a minimal lending primitive where anyone can deploy an isolated market and curated vaults allocate deposits across those markets.

By the end of 2025, Aave accounted for 61.5% of active loan market share, 52.4% of total value locked in the lending sector, and 43.2% of lending-sector revenue. The latest data suggests that lead remains intact heading into the second half of 2026.

Sources:
DefiLlama: Aave Protocol Data
Aave 2025 Year in Review (Aave Blog)

Solana’s mainnet has now operated without a single network-wide outage for 30 consecutive months, a streak that would have sounded like science fiction to anyone following the blockchain in 2022.

The last full cluster-level outage occurred on February 6, 2024, when an infinite recompile loop bug knocked the network offline for roughly five hours. Since then, roughly 913 days of uninterrupted block production.

From punchline to proof of concept Official status reports confirm 100% uptime for June, July, and August 2026, with the network processing high transaction volumes throughout without any consensus failures or halts.

The turnaround didn’t happen by accident. It came from a comprehensive protocol overhaul that touched nearly every layer of the stack. Three upgrades stand out as particularly consequential.

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First, the deployment of Firedancer, a second independent validator client built by Jump Crypto. Running multiple validator clients means a bug in one doesn’t necessarily bring down the whole network.

Second, a reworked fee market that replaced the old flat-fee model with a priority fee structure. This gave the network a more intelligent way to manage congestion instead of simply choking under load.

Third, enhancements to the QUIC protocol, the transport layer that handles how data moves between validators. These changes targeted the spam and bot traffic that had been a root cause of several earlier outages.

The asterisk worth noting Cluster-level uptime and individual validator health are two different things. The Solana Foundation itself acknowledges this distinction.

While the network as a whole has maintained perfect uptime, individual validators have reported issues. In one 30-day span, up to 32 delinquencies were logged from specific nodes. A delinquency means a validator temporarily fell out of consensus, which can happen for reasons ranging from hardware failures to software misconfigurations.

A 100% uptime figure for the cluster means the chain kept producing blocks and finalizing transactions without interruption. It doesn’t mean every single node had a flawless experience. For validators running their own infrastructure, monitoring and maintenance remain critical.

What 30 months of uptime actually changes Reliability is the table stakes requirement that unlocks everything else. Without it, institutional adoption stays theoretical and developer migration stays tentative. With it, Solana’s other selling points, its speed and low transaction costs, actually become usable at scale.

SOL, Solana’s native token, sits at the center of this narrative shift. Staking rewards, transaction fees, and network participation all flow through SOL, meaning improvements in network perception directly affect demand dynamics for the token. Validators must stake SOL to participate, and higher confidence in the network’s stability could draw more validators and more staked capital into the ecosystem.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The problem with cross-chain dataMost blockchains have no native way to verify what is happening on other networks. A smart contract on one chain cannot confirm whether a payment settled on another, which is why cross-chain activity has long depended on bridges and trusted intermediaries. @FlareNetworks takes a different approach, using its Flare Data Connector (FDC) to bring verified external data directly on-chain.

According to Flare's developer documentation, the FDC is an enshrined oracle designed to validate external data for Flare's EVM state, allowing smart contracts to consume attested information without relying on users for data integrity.

How the Data Connector worksThe process starts when a developer submits an attestation request for an external event. That could be a payment on the XRP Ledger, a $BTC or $DOGE transaction, or data returned by a Web2 API. Flare's independent data providers each verify the event independently, and their responses are combined into a consensus result.

Once consensus is reached, the verified data is stored as a Merkle root on-chain. Attestation requires more than 50% signature weight from data providers, ensuring decentralized consensus, and only the Merkle root is stored on-chain to minimize costs. Any smart contract can then consume this proof, turning external events into on-chain inputs without trusting whoever supplied the original data.

The FDC and Flare's Time Series Oracle (FTSO) represent what Flare describes as its most advanced and fully decentralized data protocols, empowering the network to acquire price, Web2, and blockchain data quickly and securely.

This architecture also supports a broader roadmap. In conjunction with the FTSO and FDC, applications can be built on Flare that harness price data, process data from other blockchains or Web2 sources, and execute transactions across Flare's connected chains.

FAssets: putting the Data Connector to workThe most concrete application of this infrastructure is FAssets, Flare's system for bringing non-smart-contract tokens into DeFi. With FAssets, assets that were not built for smart contracts can be used in programmable markets: trading, lending, vaults, staking, and cross-chain financial applications.

Flare has launched FXRP, a wrapped version of XRP that can be used in DeFi applications, and is the first live deployment of the FAssets system, which turns non-smart contract tokens like XRP into overcollateralized assets that can interact with DeFi protocols. Flare plans to expand FAssets to $BTC and $DOGE, bringing more non-smart-contract assets into its ecosystem.

Within its first seven months, more than 155 million FXRP had been minted, with most of that supply actively deployed across DeFi.

The Data Connector sits at the centre of this process. The FDC verifies the underlying transaction, and the equivalent FAssets are then minted as ERC-20 tokens on Flare. The result is a system where cross-chain applications are built on verified events rather than bridges alone.

Sources:
Flare Developer Hub: Flare Data Connector Overview
Flare Network: FAssets
The Block: Flare Network launches FXRP to let XRP be used in DeFi apps

A long-dormant Bitcoin investor who had not accessed their holdings for over 12 years transferred their entire balance, worth $1.76 million, to a new wallet as the new week began. The move set the crypto market abuzz, reflecting renewed activity among early adopters in a period of heightened security concerns.

Whale moves nearly 27 BTC after a decadeGalaxy Research, a digital asset analytics firm specializing in blockchain data, detected the transaction at 07:03 UTC in block #961845. The wallet, identified as “14vMECU9ta5sUrBhbUUnPmDjtx8Vqm6Eum”, had remained untouched since January 2014 after acquiring 26.96 BTC. At the time, Bitcoin traded at approximately $803 per coin.

The coins were initially transferred into the wallet through a series of complex transfers from unidentified sources. The owner had not engaged in any activity with the wallet until today. When the coins moved, their value had grown to $1.76 million, with the original investment booking an unrealized profit of $1.73 million. The return amounts to roughly 7,975% over the 12-year period.

EventDateBTC PriceBTC AmountTotal ValuePurchaseJan 2014$80326.96$21,650TransferAug 2026$65,30626.96$1,760,000Despite the substantial sum involved, the Bitcoin network charged the investor a fee of just 0.00000176 BTC, or $0.11, to process the transaction.

Security breach spurs market-wide concernThe sudden awakening of this large Bitcoin wallet followed close on the heels of a significant security incident affecting Coldcard hardware wallets. Hackers reportedly exploited a vulnerability, draining more than $116 million from thousands of addresses. This breach has triggered widespread anxiety among longtime Bitcoin holders, prompting several to quickly move their assets to more secure storage solutions or regulated channels.

Recent data shows spot Bitcoin exchange-traded funds recorded $80 million in inflows over the last four trading sessions, reflecting a rush to secure and regulated products during a period of heightened risk.

Mini dictionary: Coldcard is a hardware wallet manufacturer specializing in Bitcoin security. Its devices are popular among long-term holders for storing digital assets offline and away from potential online threats.

Switch to SegWit wallet highlights intentBlockchain analysis suggests the investor’s goal was upgrading wallet security instead of selling. The BTC were moved from a Legacy address beginning with “1” to a Nested SegWit format address starting with “3”. The SegWit (Segregated Witness) protocol enables more efficient transactions and lower fees by compressing data.

Nested SegWit addresses, also called P2SH (Pay-to-Script-Hash), facilitate partial compatibility with older wallet services while improving transfer efficiency. This wallet standard allows users to reduce transaction fees by around 20% to 40% compared to traditional addresses.

The transferred 26.96 BTC now reside at “3B5sQNx7xoXpZGhU2DizZSXH6HWtjrh1wp”, where the funds have yet to move again. Crypto market participants are watching the wallet for any further activity, since sending these coins to an exchange could influence Bitcoin price dynamics.

Over 26.9 BTC purchased in early 2014 for just $21,650 were moved to a higher-security SegWit wallet, while the fee for the entire transaction amounted to only $0.11 despite market concerns following a hardware wallet breach.

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’s mining difficulty has fallen roughly 19% from its November 2025 peak, a decline so steep it hasn’t been matched since China effectively kicked every miner out of the country in 2021. The metric, which automatically adjusts every 2,016 blocks to keep Bitcoin’s block production steady, dropped from approximately 155.97 trillion to 126.23 trillion as of the July 25, 2026 adjustment.

That makes this only the second time in Bitcoin’s history that mining difficulty has dipped below where it stood a full year earlier. The first was the China exodus.

What’s driving the drop Bitcoin has been trading consistently below $65,000, squeezing margins for operators who were already grappling with the April 2024 halving that slashed block rewards from 6.25 BTC to 3.125 BTC. Two recent adjustments tell the story clearly. On July 11, difficulty dropped 5%. On July 25, it fell another 0.74%. These followed a string of negative adjustments through June and July that collectively represent the third-steepest decline in the ASIC mining era.

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Network hashrate has slid to approximately 868 EH/s by July 29.

Miners are selling and pivoting Public mining companies, including Hut 8, Core Scientific, and TeraWulf, sold over 32,000 BTC in the first quarter of 2026 alone just to keep the lights on. These are infrastructure-heavy businesses making calculated decisions that their operating costs exceed their revenue at current Bitcoin prices.

Many are repurposing their facilities, specifically their power contracts and cooling infrastructure, for artificial intelligence and high-performance computing workloads. Core Scientific has been among the most aggressive in this shift, having already begun converting significant capacity toward AI hosting.

Historical context matters The 2021 China ban wiped out roughly half of Bitcoin’s hashrate almost overnight. Within about six months, hashrate had fully recovered as miners set up operations in the US, Kazakhstan, and elsewhere.

This time, the decline isn’t driven by a single regulatory shock but by sustained economic pressure. Sub-$65,000 Bitcoin combined with post-halving economics has created a slow squeeze rather than a sudden crackdown.

What this means for the network and investors For Bitcoin as a protocol, declining difficulty is the system working as designed. The adjustment mechanism ensures that when miners leave, blocks keep getting produced roughly every ten minutes.

The 32,000 BTC sold by public miners in Q1 2026 represents a supply overhang the market has already had to absorb. Below $65,000, the pressure continues. A sustained move above that level could stabilize the remaining mining operations and slow the exodus.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

BlackRock Canada launched two exchange-traded funds Monday, including a portfolio that combines globally diversified equities with a 3% allocation to Bitcoin.

The two funds, which began trading on the Toronto Stock Exchange, are the iShares Equity + Bitcoin ETF Portfolio (IBQT) and the iShares Core MSCI All-International Equity Index ETF (XINT).

IBQT allocates 97% of its portfolio to Canadian, US, international and emerging-market equities and 3% to Bitcoin (BTC) exposure through BlackRock’s Canadian iShares Bitcoin ETF (IBIT), which trades on Cboe Canada. Rather than investing in individual stocks, IBQT primarily holds other iShares ETFs to provide its equity and Bitcoin exposure.

XINT tracks the MSCI ACWI ex North America IMI Index, providing exposure to more than 5,000 companies across over 40 developed and emerging markets outside Canada and the US.

Both funds are managed by BlackRock Asset Management Canada through the RBC iShares alliance. BlackRock said its iShares business managed approximately $6.2 trillion in assets across more than 1,700 ETFs as of June 30.

The asset management giant’s US-listed iShares Bitcoin Trust (IBIT) is the largest US spot Bitcoin ETF by assets under management, with about $47.9 billion in AUM, according to CoinMarketCap data.

Top five US spot Bitcoin ETFs by AUM. Source: CoinMarketCap

Magazine: BIP-110 ends with a whimper, CLARITY vote punted: Hodler’s Digest, Aug. 9

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Robinhood has expanded its UK investing app into crypto, giving eligible customers access to more than 50 digital assets while adding an AI-powered tool to explain market moves.

UK customers can now buy and sell more than 50 cryptocurrencies, including Bitcoin, Ethereum, XRP and Hyperliquid, through Robinhood’s main app. The service operates through Bitstamp UK, the crypto exchange Robinhood acquired for $200 million last year.

The company said there are no trading, custody or account maintenance fees. Customers will instead pay a 0.1% foreign exchange fee when converting currencies, while some weekend conversions carry a 0.3% fee.

The rollout follows Robinhood’s registration with the Financial Conduct Authority (FCA) on July 31. Bitstamp UK is also FCA-registered. Crypto assets held through the service are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service.

Cortex brings AI into crypto tradingAlongside the trading launch, Robinhood is introducing Cortex Digests for Crypto. The generative AI feature reviews breaking news, market data, technical indicators and Robinhood’s own insights to explain what may be driving price movements.

The vision is to give users a simple market summary without making them dig through multiple sources.

Robinhood expands its crypto ecosystemThe company is also pushing its blockchain business through Robinhood Chain, a Layer 2 network built using Arbitrum technology. Robinhood said the network has recorded more than $18 billion in decentralized exchange trading volume and over $840 million in total value locked since its July 1 launch.

Developers, including those in the UK, can build applications on the network.

UK rules will tighten furtherRobinhood’s launch comes before the UK’s new crypto authorization regime. Applications are expected to open in September 2026, with the new framework scheduled to take effect in October 2027. Robinhood’s current FCA registration will not replace the authorization required under that future system.

The UK expansion also comes as Robinhood’s crypto transaction revenue fell 38% year over year to $100 million in Q2 2026. Still, total revenue rose 32% to $1.31 billion, while prediction-market revenue reached $156 million.

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In brief Bitmine bought 7,391 ETH over the past week, down from 10,399 the week before, taking holdings to 5,805,238 ETH. Total crypto, cash and "moonshot" holdings reached $11.6 billion, up from $11.3 billion. Cash and marketable securities fell to $104 million, from $482 million a month ago. Ethereum treasury company Bitmine Immersion Technologies said Monday it bought 7,391 ETH over the past week, worth about $14 million, taking its holdings to 5,805,238 ETH as of Friday evening. The company bought 10,399 ETH the week before.

Total crypto, cash and what the firm calls "moonshot" investments came to $11.6 billion, up from $11.3 billion. Most of that gain came from price, with ETH up 2.6% over the week to $1,928, adding around $280 million to the value of a stack that grew by $14 million in purchases.

🧵
1/
BitMine provided its latest holdings update for August 10, 2026

$11.6 billion in total crypto + "moonshots":
- 5,805,238 ETH at $1,928 per ETH per ETH (per @coinbase)
- 209 Bitcoin (BTC)
- $180 million stake in Beast Industries @MrBeast
- $69 million stake in Eightco…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) August 10, 2026

The firm's cash position continues to thin, with cash and marketable securities standing at $104 million, down from the $173 million it reported a week earlier and $482 million the company reported for July 12—a decline of 78% in a month. Alongside the ETH, Bitmine holds 209 Bitcoin, a $180 million stake in Beast Industries and $69 million of Eightco Holdings.

Bitmine repurchased 3 million shares over the week, down from 4.5 million, bringing the total to 19.1 million since July 1 under a $4 billion authorization. Chairman Tom Lee said the company "continues to view Bitmine's common shares as undervalued," and called the program the largest executed by any crypto treasury company.

Staking now covers 5,067,309 ETH, or 87% of holdings, up from 85% a week earlier. Lee put projected annualized staking revenue at $257 million, based on a seven-day yield of 2.63%.

The last 4%Bitmine's stack is 4.8% of Ethereum's 120.7 million supply, and the company again described itself as 96% of the way to its "Alchemy of 5%" target, the same figure it gave a week ago and the fifth straight week at 4.8%. Reaching 5% would take about 229,800 more ETH, or roughly 31 weeks at last week's rate.

The firm has bought ETH every week since starting the strategy on June 30, 2025. It picked up $214 million worth in June during a selloff Lee called "superficial," added $49 million in July on early demand for Robinhood Chain, then eased off later that month before passing 5.79 million ETH.

Lee said he was “disappointed” the Clarity Act would not reach a Senate vote before the August recess, but pointed to softer inflation and jobs data, putting the odds of a September Federal Reserve hike at 40%, down from 75% a fortnight ago. Those odds have since risen to 46%, according to CME FedWatch.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

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Ethereum co-founder Vitalik Buterin has presented a major update to the network's technological direction, radically changing its development priorities. The "Strawmap" he published eliminates the old six-phase roadmap — including the Merge, the Surge and others — and divides the blockchain's evolution into three architectural layers: consensus (CL), data (DL) and execution (EL).

The main marker of the new strategy is Ethereum's official shift toward protection against future quantum computers, comprehensive user privacy and the integration of AI tools for code verification, while abandoning several older technological ideas.

"Ethereum will be quantum-safe. Ethereum will put users' privacy first. Ethereum will be secure. Ethereum will be censorship-resistant. Ethereum will be highly performant and scalable while satisfying the above. And Ethereum will be Lean." — Vitalik Buterin

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What prompted the overhaul of the old Ethereum roadmapExpectations that powerful quantum computers could emerge soon have forced researchers to rewrite the security roadmap with the introduction of a post-quantum public-key registry and PQ transactions. 

Buterin emphasized that the roadmap now includes "aggressive scaling in the context of post-quantum," involving lightweight LeanSPHINCS signatures and "zkzk" cryptographic frameworks.

To achieve this, developers have made difficult trade-offs: Verkle trees, which had been under development for years, have officially been declared obsolete. According to Buterin, some elements were "replaced with superior constructions." 

Newly updated Ethereum "Strawmap" outlining the network's technical timeline across three layers, Source: Vitalik Buterin via X.comIn this case, Verkle trees gave way to Poseidon binary trees (PBTs), originally designed to work efficiently with the complex mathematics of STARK proofs.

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Buterin acknowledged that previous roadmaps critically lacked built-in privacy tools and that the network now requires "first-class attention to strong privacy." Keyed nonces, elements of FOCIL, lean privacy pools and a "wormhole" architecture are being integrated into the protocol to make it possible to conduct fully shielded transfers directly at the network's base layer.

Why Ethereum's economics are changing and what exactly AI will controlInstead of attempting to "maximally scale ALL Ethereum activity," developers are creating specialized mechanisms that have more restrictive properties. They are intended to support "the heaviest loads incurred by users and applications today and tomorrow," including token transfers, fast swaps and privacy protocols. 

The technical foundation of this approach will consist of recursive STARK proofs and native rollups, which could not even have been considered in 2023 because "SNARKs were nowhere near mature enough."

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At the same time, Ethereum's economics are being reformed. Short- and long-term futures for gas and blobs have been added to the roadmap, with Buterin separately noting that this idea simply did not exist back in 2023. 

This will allow major applications to purchase network capacity in advance at a fixed price, protecting users from sudden fee spikes.

The security of such a densely integrated architecture will be possible only through end-to-end formal verification (FV) of protocol specifications. Buterin plans to entrust this task entirely to modern AI tools, as the volume of code has already become too large for humans to verify on their own.

BLOG August 10, 2026

This patch release introduces several improvements to v0.6.1 and adds the new GovPaymaster system contract to improve the ERC-4337 user experience. Upgrading from v0.6.1 is highly recommended, especially for MainNet nodes.

Upgrade Instructions Follow the steps below to upgrade your node from v0.6.1 to v0.6.2:

Download the new binary from the release page.

Gracefully stop your node.

Replace the old binary with the new one.

Restart your node.

New Feature Add the GovPaymaster system contract and related network policy.

Behavior Changes Prevent rewards from being sent to validators using EIP-7702 delegation.

Extend the Blacklist Policy to EVM execution.

Improvements Improve hardfork listings in the node log.

Detach the extensible payload verifier from the dBFT engine.

Support optional rewind during genesis initialization.

If you have any questions regarding this upgrade, please reach out in our Discord community.

Please beware of scammers impersonating Neo via direct messages. Follow Neo for future updates.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

At the start of the new week, two major treasury transactions were recorded in the stablecoin market, clearly illustrating the division of digital capital into two parallel and non-overlapping directions.

According to on-chain tracker, Ripple carried out a scheduled issuance of $10 million in RLUSD stablecoins on the XRP Ledger. Almost simultaneously, Tether conducted a routine issuance of $1 billion in USDT on the Tron blockchain, increasing its treasury inventory on the network to $91 billion.

The difference in volume is explained by the fundamentally different business models of the two issuers. 

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With its enormous turnover, Tether serves the needs of the mass retail market and crypto trading, where immediate access to deep liquidity is critical.

Fresh $10 million RLUSD mint on XRP Ledger (XRPL) by Ripple, Source: XRP ScanRipple, in turn, is not attempting to compete in the mass-market segment. RLUSD currently has a market capitalization of $1.52 billion, approximately 20% below its May peaks, while the token is issued selectively to meet specific B2B requests from commercial companies through the Ripple Mint platform.

Whales defend $1 XRP floor as Ripple injects fresh capitalThe latest $10 million mint coincided with a major increase in large-investor activity on the spot market. While Ripple's treasury regulates the stablecoin's supply under NYDFS supervision, large holders, or whales, began aggressively moving funds and accumulated more than 380 million XRP over the past week.

These maneuvers unfolded around the psychologically important $1 level for XRP, which major players are defending as a key support level.

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Ultimately, these developments reflect the current status quo. While Tether retains its position as the main settlement instrument in retail crypto transactions, Ripple is testing its B2B product within the narrow corporate payments niche and undergoing technical adaptation as large investors build positions ahead of a potential breakout from the market's prolonged summer consolidation.

Standard Chartered, a leading multinational bank based in London, has launched coverage on Chainlink, setting an ambitious price target of $200 for LINK by the end of 2030. The bank expects this forecast to significantly outperform both Bitcoin and Ethereum over the same period. LINK was trading near $8.25 on Monday, reflecting a projected 25-fold increase if the target is met.

Chainlink targets and market insightsGeoff Kendrick, Standard Chartered’s global head of digital assets research, provided a series of price milestones for LINK in a research note. Kendrick’s roadmap projects LINK to reach $13 by the close of this year, and then hit interim targets of $41, $82, and $133, before landing at $200 by 2030. For comparison, the same note plots Bitcoin at $500,000 and Ethereum at $40,000 for the end of the decade.

Kendrick anticipates a notable expansion of asset tokenization, forecasting that the on-chain value of tokenized assets will rise from roughly $340 billion now to $4 trillion by late 2028. He further projects that assets deployed in decentralized finance (DeFi) will surge 37-fold, reaching $2.7 trillion by 2030.

According to the bank, Chainlink’s revenue model benefits directly from the growth of tokenized and DeFi assets. As Chainlink charges for transmitting data and facilitating asset transfers across blockchains, Standard Chartered estimates its fee volume could climb 25 times from current levels, with token prices assumed to track fee growth.

Chainlink currently secures over $110 billion in total value, covering about 70% of all oracle-dependent DeFi value globally and more than 80% on Ethereum. Aave V3 accounts for 44% of this secured value alone.

Standard Chartered also highlights Chainlink’s wide-ranging partnerships, citing major institutions such as Swift, DTCC, Euroclear, JP Morgan, Mastercard, UBS, Fidelity, and S&P Global. The bank expects that business from off-chain clients—like tokenized funds and bonds requiring net asset values, rates, and attestations—will make up a growing share of Chainlink’s fee revenues in the future.

Mini dictionary: Chainlink is a decentralized oracle network that supplies real-world data to blockchains and facilitates secure communication between different blockchain platforms. Oracles are essential for DeFi and tokenized asset markets to function.

Competition and security concernsDespite its strong position, Chainlink faces competition in blockchain interoperability. Kendrick’s report notes that Chainlink is currently outpaced by LayerZero in interoperability functions. However, more than $7 billion in token value has moved from older bridges to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) since a $292 million exploit was reported in April. In the second quarter, CCIP’s transaction volume reached $4.9 billion—a 353% year-on-year increase.

Tensions remain between LayerZero and Chainlink in the wake of last April’s exploit. Following the incident, KelpDAO said it would transition from LayerZero to Chainlink, though LayerZero contests the claim that its protocol was responsible for the loss.

MetricCurrent2030 TargetLINK price$8.25$200Bitcoin price~$68,500*$500,000Ethereum price~$3,600*$40,000Tokenized assets on-chain$340 billion$4 trillionAssets deployed in DeFiN/A$2.7 trillion*Current BTC and ETH prices approximated, as not specified in news.

Uniswap and DeFi surge on bullish forecastsThe coverage has driven renewed bullish sentiment in DeFi. Uniswap’s governance token, UNI, climbed to a local high of $3.70 in the past day, marking a gain of nearly 20%. UNI is now trading at $3.63, up about 48% on the week, and pushing Uniswap’s total market capitalization to $2.26 billion on daily trading volumes near $864 million.

Standard Chartered’s optimism has focused not only on Chainlink but also on leading DeFi protocols. Kendrick’s June note outlined $100 price targets for Uniswap, $3,500 for Aave, and $60 for Morpho, all underpinned by his model projecting a 37-fold growth in assets deployed in DeFi by 2030. While LINK’s response has been muted, UNI rallied sharply following the release of the report.

Risks identified include the possibility that institutional tokenization scales up more slowly than anticipated, pilot projects struggle to transition to recurring processes, specialist competitors capture market share, and unforeseen technical failures undermine trust.

At present, investor optimism has buoyed select DeFi assets as markets digest new targets and growth forecasts.

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.

Solana price rallied nearly 7% from its Aug. 7 low, breaking a five-week descending channel as proposed supply changes and institutional adoption renewed demand for SOL.

Summary

Solana price rose from $72.49 to $77.36, breaking above a five-week descending channel. 4-hour Supertrend support flipped bullish at $75.02, strengthening the breakout structure. Liquidation clusters at $78 and $80 could accelerate gains if buyers maintain control. Daily momentum remains mixed, leaving $74–$75 as the main breakout invalidation zone. According to data from crypto.news, Solana (SOL) price traded around $76.93 on Aug. 10, up nearly 7% from its Aug. 7 low of $72.49. The recovery pushed SOL through the upper boundary of a descending channel that had controlled its price since early July.

The 4-hour chart shows that SOL first reclaimed $74.30 before breaking the channel near $75. The price then climbed to an intraday high of $77.36, where buyers encountered initial resistance.

Solana price 4-hour chart — Aug. 10 | Source: crypto.news Trading volume expanded during the breakout, while the bull-bear power indicator rose to 1.23. A positive reading indicates that buyers currently have more short-term control than sellers.

The Supertrend indicator has also flipped below the market and now provides dynamic support at $75.02. Holding above this level would keep the 4-hour structure bullish and could turn the former channel resistance into support.

Crypto analyst Dami-Defi identified the same structural change in an Aug. 10 post on X.

“SOL just broke a five-week downtrend,” the analyst said.

The breakout does not yet confirm a broader trend reversal, however. SOL remains well below its May swing high near $97 and its January peak above $145.

What is driving the SOL recovery? The rally coincided with growing validator support for two proposals designed to reduce Solana’s future supply growth.

SIMD-0550 would increase the annual disinflation rate from 15% to 30%, bringing the network toward its terminal inflation rate faster. SIMD-0553 would introduce resource-based transaction fees and could raise daily SOL burns from about 650 tokens to between 7,500 and 9,000.

The formal governance process is expected to run through Aug. 18. The proposals remain subject to validator approval, meaning their projected supply effects are not guaranteed. Solana’s governance forum describes SIMD-0550 as a doubling of the pace at which inflation declines.

Institutional developments have added another source of demand. BlackRock recently unveiled its Daily Reinvestment Stablecoin Reserve Vehicle, which can record fund ownership across several public blockchains, including Solana. The product holds cash, short-term U.S. Treasuries and repurchase agreements rather than SOL itself.

Western Union has also expanded its use of the network. Its USDPT stablecoin is issued on Solana by federally regulated Anchorage Digital Bank, while a related Stablecard product launched across 37 markets. Western Union formally launched USDPT on Solana in May.

These developments do not directly require institutions to purchase SOL in large amounts. They do, however, strengthen Solana’s case as infrastructure for regulated funds and dollar-based payments.

SOL targets $78 liquidity before $80 The three-day liquidation heatmap shows the nearest concentration of leveraged positions around $77.80–$78.20. This zone matches the next horizontal resistance visible on the 4-hour chart.

Solana liquidation chart | Source: CoinGlass A break above $78 could trigger another round of short liquidations and open a move toward $80. The upper section of the former channel and previous July swing levels place the next larger resistance between $82 and $84.

Dami-Defi’s chart projects a possible move toward $83 if SOL successfully retests the broken trendline.

Michaël van de Poppe offered a more ambitious longer-term outlook. In an Aug. 10 market update, he said SOL had formed a higher low against Bitcoin and forecast a possible recovery toward $100–$120.

A deep correction on $SOL vs. $BTC.

However, the recent push upwards is a strong signal on why you should be buying after these corrections have been taking place.

It's up 5% since the test of this region and I think that we're going to see a stronger move upwards on $SOL.

The… https://t.co/VRCEkgV9rG pic.twitter.com/zcQ6YzUKiJ

— Michaël van de Poppe (@CryptoMichNL) August 10, 2026 That target would require SOL to reclaim several resistance zones that are not visible in the current short-term breakout. The first tests remain $78, $80, and $83.

Daily Solana chart still needs confirmation SOL’s daily chart is improving, although it has not produced a fully confirmed bullish reversal.

Solana price daily chart — Aug. 10 | Source: crypto.news The price has moved above the Ichimoku conversion line at $74.89 and the baseline at $74.73. SOL is also attempting to clear the upper edge of the cloud around $76.93, making the current area an important daily closing level.

A sustained close above the cloud would strengthen the case for a move toward $80–$84. Rejection near $77, however, could send SOL back to test the Ichimoku cluster between $74.73 and $74.89.

The Awesome Oscillator remains slightly negative at -0.46. Its red bars have contracted and the indicator is moving toward zero, suggesting bearish momentum is fading but has not yet reversed completely.

Liquidation data reinforces the downside levels. Large long-liquidation concentrations sit around $75.70, $75.10 and $72.80. If SOL loses $75, forced selling could pull the price toward $73 before buyers regain control.

US developments remain a key SOL catalyst Solana’s institutional adoption has become increasingly tied to regulated U.S. financial infrastructure. BlackRock’s fund structure involves tokenized ownership of Treasury-backed assets, while Western Union’s USDPT is issued by a U.S. federally chartered crypto bank.

The next network catalyst is the planned Alpenglow rollout. The upgrade aims to reduce transaction finality from about 12.8 seconds to between 100 and 150 milliseconds, with implementation expected in stages between August and October if testing proceeds as planned.

For now, SOL’s 4-hour breakout favors buyers while the price remains above $75. A daily close above $78 would provide stronger confirmation and shift focus toward $80–$84. Losing $74 would place the breakout at risk and reopen the path toward $72.80.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

59 min ago

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Solana lending giant Jupiter now lets the same dollar earn twice. (Live Richer/Unsplash/Modified by CoinDesk)Summary

Jupiter’s Lend v2, introduced Monday, allows deposits and borrowed positions to double as trading liquidity so users can earn both lending interest and a share of swap fees from the same capital.The product introduces optional Smart Collateral and Smart Debt features that automatically pair assets into correlated liquidity pools, boosting yields for depositors and offsetting borrowing costs when traders route swaps through those pools.While borrowers in correlated pools are protected if one stablecoin depegs, collateral providers bear the loss on either asset, a risk Jupiter seeks to limit by confining the design to stablecoin pairs and SOL versus its staked versions.Solana decentralized-lending giant Jupiter rolls out its new Lend version 2 (v2) product on Monday, allowing deposits and borrowed positions to simultaneously act as trading liquidity so the same dollar earns interest as a loan and a share of swap fees.

Jupiter Lend holds about $1.9 billion in deposits, according to DefiLlama data, and generated $1.6 million in fees over the past 30 days, or roughly 1% a year on the capital sitting there before any split with the protocol.

Active loans stand at $822.7 million and have fluctuated between $600 million and $900 million since September, Token Terminal data show. Deposits and loans have both slipped over the past month.

(Token Terminal)The new version of Lend introduces two features, both optional.

Smart Collateral lets a deposit of USDC, USDT, SOL or JupSOL be paired automatically into a correlated liquidity pool. That allows the assets to earn yield on any loans while gaining trading fees and, where applicable, staking rewards from one position. Smart Debt does the same for borrowed assets, so fees generated by a debt position offset the cost of the loan. Users who want ordinary lending can ignore both.

The extra yield exists only if traders actually swap through those pools, which means Jupiter not only runs Solana's largest swap router, the software most wallets and apps use to find the best price across venues, but it also owns pools that need that flow to arrive.

The company told CoinDesk the router does not favor its own vaults and sends swaps wherever the price is best.

The risk of pairing assets falls unevenly, however. Jupiter said margin is valued using primary market oracles, or data providers, so a temporary price wobble on an exchange does not trigger anything, and a position liquidates as normal once its loan-to-value ratio passes the threshold.

A genuine depeg is different. On the debt side the borrower is protected — someone borrowing $100 split between USDC and USDT would see the pool rebalance into whichever asset held its value and still owe $100. On the collateral side there is no such protection, and a supplier carries the loss on both assets if either breaks.

That is why the design is confined to correlated pairs, stablecoins against each other and SOL against its staked versions, rather than volatile assets.

"There's been a wall between the two primary ways people earn APY onchain, lending and LPing," said Kash Dhanda, Jupiter's chief operating officer, referring to lending and supplying liquidity to exchanges.

The design lets Jupiter offer higher deposit rates and cheaper borrowing, he said, and terms improve as the vaults attract more trading. "It is not about just serving existing loans, but providing efficiency to grow the entire market."

Jupiter said it expects a mix of new loans and migrated positions, without giving a target or a cap. A protocol whose loan book has not grown in a year now has a product that pays more, and the next 30 days of active loans will show whether yield was the thing holding it back.

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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.

Yield trading protocol Pendle has expanded onto the Monad blockchain with srUSDat, the senior tranche of Saturn’s structured credit stack, now available as fixed-yield markets for on-chain investors.

The launch happened around June 19, 2026, and the market responded immediately. Pendle crossed $51 million in Total Value Locked within ten days, racked up $22 million in trading volume in the first week alone, and has since climbed past $111 million in TVL, placing it among the top protocols on the Monad chain.

What srUSDat actually is srUSDat is the senior slice of Saturn’s USDat and sUSDat yield-bearing token system. Senior tranche investors receive fixed yields and retain principal protection until the junior tranche has absorbed losses entirely.

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The underlying exposure runs through STRC, which represents Strategy’s cumulative perpetual preferred equity. That connects the yield to Bitcoin-related corporate credit, a real-world asset category. Pendle’s tokenization of this exposure gives on-chain users a way to access that yield stream without navigating traditional brokerage infrastructure.

Current pool rates reflect the senior tranche’s risk profile. Live srUSDat and sUSDat pools on Pendle show fixed APYs around 15.54% on a 160-day sUSDat maturity, with broader market options showing fixed yields in the 13-15% range across pools maturing in August 2026 and January 2027.

Pendle’s Monad expansion in context Pendle’s core mechanic splits any yield-bearing token into two components: a Principal Token, which trades like a zero-coupon bond and can be redeemed at face value at maturity, and a Yield Token, which captures all the floating yield upside. This split lets one investor lock in a fixed rate while another speculates on yield movements, and both trade freely in Pendle’s automated market maker.

Saturn has added incentives to deepen liquidity. The protocol rolled out double points for participants in Pendle’s USDat and sUSDat markets on Monad during August 4 through 13, 2026, alongside MON token rewards targeted specifically at Yield Token positions.

Users interacting with these markets have multiple strategic options. Liquidity providers can deposit into the pool and earn trading fees plus the incentive stack. Yield Token buyers take on leveraged exposure to rate movements. Principal Token buyers lock in the fixed rate. Each strategy appeals to a different risk tolerance without requiring any of them to leave the on-chain environment.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.