Track market-moving stories before they get noisy

Bitcoin is heading towards a second consecutive red October as selling pressure undermines the seasonal “Uptober” narrative. As of 19th October, Bitcoin [BTC] was down 1.35% for the month, while historically October has returned an average of 18.40%.

That decline comes after a September of +6.33%. So, it would seem that the momentum gained during the last recovery period has been fading. While broader market uncertainty and profit-taking may have contributed to the decline in prices, the monthly returns alone cannot confirm the exact triggers.

Bitcoin’s 20.48% June decline highlighted how quickly selling can overwhelm recovery attempts, while August’s 24.95% rebound underlined the market’s volatility.

Source: CoinGlass Two consecutive negative Octobers could weigh on investor confidence, given that Bitcoin is already down over the month. This is in regard to seasonal rallies and makes it more likely that they will require better confirmation before purchasing.

Additionally, a lack of confidence due to lower risk appetite among investors in general could impact altcoins negatively. For Bitcoin to record a sustained recovery, renewed spot demand and improved conviction among buyers need to be realized.

Bitcoin whales accumulate as retail selling rises At the same time, while Bitcoin noted difficulty sustaining October’s rally, on-chain data demonstrated a widening gap between retail investors and whales. In fact, on-chain data indicated that retail investors have been selling their coins more aggressively than large investors have been acquiring them.

Retail-linked deposits to Binance increased much faster than whale inflows over the recent 30-day period. Retail-linked deposits rose from $7 billion to $10.78 billion, representing a 54% hike over the recent 30 days.

Whale inflows were up just 9.5% over that same period and hit $4.6 billion. Therefore, the gap increased from $2.8 billion to $6.18 billion. In short, retail investors have been offloading coins at a far faster rate than the pace at which whales may be buying them.

Source: CryptoQuant On the other hand, the behavior demonstrated by whales might offer a contrasting view. Between 27th September and 19th October, the distribution trend demonstrated by those whales holding 1,000 – 10,000 BTC reversed.

The amount distributed fell from 62,600 BTC to 5,230 BTC and therefore turned the trend into accumulation. Furthermore, the 100-1,000 BTC cohort has been in accumulation since mid-July despite a decline in their balance of 75,000 BTC.

Source: CryptoQuant Taken together, these two trends demonstrate that whales have been exhibiting far greater resiliency than retail investors.

However, if whales continue to accumulate and remain resilient, they could potentially act as a buffer against future selling pressure in relation to Bitcoin. Nevertheless, further retail deposits could limit near-term price appreciation.

Final Summary Bitcoin risks a second consecutive red October as its monthly returns fell to 1.35%, weakening the Uptober outlook.

BTC whales flashed signs of renewed accumulation as retail inflows to Binance rose 54%, creating mixed signals for price recovery.

In brief
XRP Ledger developers are patching its new lending protocol before it goes live, adding a follow-up amendment to fix the original LendingProtocol code while it’s still in the network’s voting queue.
The protocol enables on-chain, fixed-term, uncollateralized loans using pooled funds and “first-loss capital” to absorb defaults, relying on off-chain underwriting rather than automated collateral; amendments need 80% validator support over two weeks to activate.
The pre-launch fix follows a recent near-miss when developers patched a dormant payment-engine bug that could have minted counterfeit XRP.
The XRP Ledger is patching its new lending feature before a single loan has been written on it, adding a second code amendment to repair the system while it waits in the network’s approval queue.

The ledger’s lending protocol, a DeFi building block that enables on-chain, fixed-term, uncollateralized loans drawn from pooled funds, was introduced through an amendment called LendingProtocol that is still open for validator voting.

Myriad: Where does Solana go next? Click to make your prediction.Rather than wait for that version to go live and then fix it, developers have published a follow-up, LendingProtocolV1_1, that corrects issues in the original before it ever takes effect. The documentation now lists both amendments as requirements for the feature, meaning the network would adopt the repaired version from the start.

The approach reflects how changes reach the XRP Ledger. New features and fixes ship as amendments that must earn support from at least 80% of trusted validators over a two-week period before activating.

Because the original lending code hasn’t cleared that bar yet, patching it with a second amendment avoids launching a known-flawed system onto the live network, then scrambling to repair it afterward.

The protocol itself is built for institutional-style credit rather than the collateral-and-liquidation model common in DeFi. It relies on off-chain underwriting to vet borrowers and uses “first-loss capital,” a buffer a loan broker puts up to absorb the initial hit from defaults, in place of automated on-chain collateral. Issuers retain compliance tools, including the ability to freeze accounts or claw back funds.

The caution follows a close call elsewhere in the ledger’s code. Developers recently disclosed and fixed a critical bug in the XRP Ledger’s payment engine that could have let an attacker mint counterfeit XRP, a flaw that sat dormant for roughly a decade before a researcher flagged it. Fixing the lending code pre-launch fits a more cautious posture around new functionality.

The lending feature is part of a broader buildout of credit and DeFi capabilities on the XRP Ledger, which has been adding the financial-market plumbing Ripple and others have long said it lacked.

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Ripple-backed Evernorth Holdings has submitted a new prospectus for approximately 11.5 million XRPN tokens to help build its XRP treasury. The SEC filing from October lists 11,499,992 Class A common shares which can be sold upon the exercise of public warrants. Evernorth has also announced its intention to sell more shares to acquire more XRP, as part of its focus to expand the company’s treasury.

Evernorth Registers 11.5M Shares As XRPN Trades Above Exercise Price The public warrants have an expiration date of December 27, 2012 and are to be redeemed at $11.50 per XRPN share. As of Oct. 16, the prospectus price of the XRPN stock is $15.45 and the XRPN warrant $4.16, according to the SEC filing.

This means that the warrants are in the money because the stock is currently trading at above the exercise price. Depending on market conditions and terms, cash exercise might become attractive for the warrant holder.

Yet, this does not imply that 11.5 million XRPN stock shares have been released. Actual number will vary based on warrant exercises. If warrant holders exercise their cash warrants at $11.50 a share, Evernorth will receive cash proceeds.

Evernorth has registered 11,499,992 Class A shares issuable on warrant exercise at $11.50. Shares last traded at $15.45 and warrants at $4.16 (Oct 16), so the warrants are in the money.

Evernorth has stated plans to issue more shares to buy more $XRP. 💥 https://t.co/9eviNTGo7d pic.twitter.com/Kw5NE5EjXR

— Xaif Crypto (@Xaif_Crypto) October 20, 2026

The company will not receive any proceeds of the sale of shares covered by the prospectus.

More XRP Buying In Focus As Evernorth Expands Treasury Strategy The new release follows Evernorth’s recent XRP-focused strategy as it pursues it. It has announced that it intends to sell more units to help it buy more of XRP. It is viewed as a bullish news for XRP price, which is in a consolidation phase currently.

The prospectus doesn’t indicate whether the new XRP were purchased, nor does it state that proceeds generated from the exercise of warrants will be used to acquire the native XRP. However, if the warrants are exercised for cash and the company decides to use the proceeds for XRP, it would be a way to get additional capital.

Another thing in focus is the potential for share dilution with the filing. Warrant holders may exercise their warrants and receive additional shares of Evernorth, which could increase the number of XRPN stock shares outstanding.

With the increase in the total number of shares, each existing shareholder would have a smaller percentage of his or her company stock.

For XRP investors, the key question is whether Evernorth can turn future capital raising into additional XRP accumulation. The registration comes with a potential path for granting funds with a warrant, but any funds raised and purchase of XRP will be subject to future decision-making.

TRON built its reputation moving digital dollars. Justin Sun now wants it to move stocks and Treasuries too.

Speaking at TOKEN2049 Singapore and related events in October 2026, the TRON founder laid out a plan to push the network past its role as a stablecoin pipeline. He said the expansion will go ahead without fresh guidance from Congress.

From USDT rails to tokenized assets
The centerpiece of the plan is tokenized real-world assets, or RWAs. Think of these as digital receipts on a blockchain that represent ownership of something off-chain, like a share of a company or a government bond.

Sun said TRON aims to bring tokenized equities and US Treasuries onto the network. The first step, according to the plan, is a launch of tokenized share offerings in Q4 2026.

The target audience is global, with a particular focus on Asia and emerging markets. These are users who want exposure to the US dollar and US assets but may prefer to get it through on-chain tools rather than a traditional brokerage account.

Sun also put a number on the opportunity. He projected that tokenized stocks could grow into a market exceeding $100 billion within five years.

Why Sun thinks TRON has a head start
The pitch rests on a simple argument: TRON already handles an enormous share of the world’s digital dollars, so adding other dollar-linked assets is a natural extension.

The numbers behind that argument are substantial. As of Q3 2026, USDT on TRON hit a record high of over $92.7 billion, representing more than 50% of the global USDT supply.

Settlement activity tells a similar story. As of September 2026, TRON settled approximately 73% of total stablecoin volume.

On the regulatory front, Sun pointed to existing supportive frameworks from agencies such as the CFTC and SEC as the footing for moving forward. His position is that those agency-level frameworks are enough to proceed, even without new legislation from Congress.

AI agents and post-quantum upgrades
The network is also working on AI agents that can carry out transactions autonomously. These are software programs that can act on a user’s behalf, such as executing payments or trades, without a human clicking every button.

TRON has implemented post-quantum signatures on its Nile testnet. The plan is to roll those post-quantum upgrades out to the TRON mainnet by the end of 2026.

What this means
For users in Asia and emerging markets, the appeal is access. A tokenized share could offer a path to US market exposure that bypasses some of the friction of traditional cross-border investing.

The biggest open question is regulatory. Sun is choosing to lean on existing agency frameworks rather than wait for Congress. Tokenized stocks also sit in a more sensitive category than stablecoins, touching on securities rules, investor protection and questions about who custodies the underlying shares.

Things to watch include whether the Q4 2026 tokenized share launch arrives on schedule, how regulators respond to TRON moving ahead without congressional action, and whether the post-quantum upgrade makes the jump from Nile testnet to mainnet by the end of 2026.

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

1 hours ago

According to official announcements, BNB Standard Corporation (BNC), the BNB treasury firm, has named Alex Odagiu as its new CEO. Public records show Odagiu joined YZi Labs in September 2021 as an investment manager, and was promoted to Investment Partner at the firm in September 2025. During his tenure at YZi Labs, he was primarily responsible for Web3-related investments spanning DeFi, payments, stablecoins, real-world assets (RWA), and AI-crypto intersections, served as a mentor and judge for the BNB Chain MVB Accelerator across 10 seasons, participated in the EASY Residency incubation program, and backed projects including Avalon, Aspecta, Canton, Hemi, Concrete, Mysten Labs, and Aptos. In June 2026, he was appointed Interim President and Director of BNB Standard Corporation, and officially took on the CEO role on October 19, 2026, resigning from all his positions at YZi Labs, including Investment Partner and his seat on the investment committee. This past June, YZi Labs and BNB treasury firm CEA Industries (now rebranded as BNC) reached an agreement to resolve governance disputes and jointly advance management adjustments.

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Pump.fun has officially launched tokens tracking the market value and sentiment of major companies before their initial public offering (IPO).

Powered by @PreStocks, the debut features pre-IPO assets and paired memecoins. Previously, launching a memecoin on the platform required SOL or USDC as the underlying quote asset. The stocks integration means a memecoin uses the specific pre-IPO tracking token as its quote asset, hence why they are dubbed “Custom Pairs.”

The rollout includes eight initial companies, in the following categories:

AI companies – in this group are OpenAI and Anthropic.Prediction market companies – this cohort comprises Polymarket and Kalshi.Robotics company – in this group is Figure AI, which builds autonomous, general-purpose humanoid robots.Neuro technology company – another brainchild of tech mogul Elon Musk, Neuralink, falls here.Defense technology contractor – here is Anduril, a firm that builds autonomous military weapons.Health company – in this category is Oura, which manufactures biometric smart ring trackers.For Pump.fun, the development saw its token (PUMP) surge 8.41% in the last 24 hours, to trade at $0.004475. 

Source: CoinMarketCap 

The rally is attributed to the fact that the newly launched custom pair tokens will contribute to the ecosystem’s fees and hence its token buyback and burn mechanism.

As of late October, the model had permanently wiped out 17.2% of the token’s fixed supply. This, coupled with rising demand and successful projects, enhances the token’s value.

Source: Pump.fun official dashboard 

CaveatsNotably, these tokens only provide synthetic exposure to the underlying companies. They do not, in any way, grant holders shareholder privileges such as voting rights or legal equity ownership.

More importantly, a valuation disconnect can be created when the synthetic assets rise to extreme valuations (trillions of dollars), while the platform’s total assets remain comparably lower.

Even more, the tokens are currently restricted for all US citizens because they are considered synthetic derivatives. The US Securities and Exchange Commission (SEC) banned this category of assets recently when granting a five-year innovation exception for tokenized stocks.

Outside the US, users are finding the 3%-5% pre-IPO token fees a hefty penalty for short-term high-frequency trading.

CriticsEthereum co-founder Vitalik Buterin and Curve Founder Michael Egorov have previously criticized the Solana launchpad, likening it to a gambling den or a casino.

On X, the community questioned possible liquidity issues and regulatory status, while others looked forward to participating.

Memecoins paired with pre-IPO OpenAI and Anthropic exposure. The trenches just got a new base layer. Curious to see how liquidity behaves on these pairs vs SOL pairs.

— Cysco 🧪 (@cyscolab) October 19, 2026 Story Ends Here

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Citi Research has released a report stating that it is no longer sufficient to view Aave solely as a crypto-native lending protocol. As tokenized assets, stablecoins, and institutional participation gradually integrate into mainstream finance, Aave is poised to be positioned as a decentralized collateral liquidity protocol. Projects including Aave V4, Horizon, and GHO all point to the intersection of collateral, liquidity, and financing. The report notes that if tokenization determines which assets enter on-chain ecosystems, and stablecoins become the default settlement base, Aave could help shape how these assets are financed, leveraged, used as collateral, and integrated into capital markets. Citi argues that as tokenization expands beyond stablecoins to money market funds, private credit, Treasuries, and even future equities, collateral circulation may eventually emerge as one of the most important use cases of tokenization. Aave provides a practical case study showing how tokenized assets can be used for collateralized borrowing, financing, and re-collateralization within the digital financial system, while also offering insights into the future of tokenized capital markets, securities financing, and even prime brokerage.

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NEAR Intents handled about $10.4 billion in Q3 2026, and NEAR Protocol is retaining a larger share of swap fees to fund $NEAR buybacks.

NEAR Protocol is capturing a growing share of the fees generated by its cross-chain swap product. @near_intents handled about $10.4 billion in volume in the third quarter, bringing lifetime volume to more than $32 billion, according to @NEARProtocol's Q3 report.

Lifetime fees topped $52 million, and more than $8 million of that went toward buying back $NEAR.

Retained share of fees risesThe portion of Intents fees that NEAR keeps reached 16.4% over its lifetime as of October 6. That compares with 11.5% in the second-quarter report. Over the past 30 days, the retained rate stood at 28.4%.

The distinction matters because the fees charged on swaps are not all kept by the protocol. DefiLlama's methodology separates gross fees, which include the protocol fee plus the affiliate fee each front end collects, from the revenue NEAR itself captures. According to DefiLlama, NEAR's captured Intents revenue has been used to buy back $NEAR on the open market since February 23, 2026, and the tokens are not burned.

Buybacks in contextBuyback activity has picked up alongside volume. Altcoin Buzz, citing DefiLlama data, reported that September's $1.84 million was the biggest monthly buyback so far. Different trackers count the buyback total differently, depending on whether they measure tokens or dollars and which wallets they include.

Some market participants have urged caution on what buybacks can achieve. Sal Ternullo, CEO of Nasdaq-listed NEAR treasury company SVRN, said on the Bankless podcast that buybacks are real, but that the network was issuing more than six times as much new NEAR as was bought back over the prior 30 days, according to Yahoo Finance. He also floated a governance proposal to cut maximum annual issuance from 2.5% to 1.6%.

For now, the Q3 figures show both swap volume and the protocol's retained share moving higher. Whether that is enough to offset token issuance will depend on how long volume stays elevated.

SourcesDefiLlama: NEAR Intents TVL, fees, revenue and volume
Altcoin Buzz: NEAR Intents buyback hits $6.68M
Yahoo Finance: NEAR treasury firm CEO on buybacks and issuance

Solana has shipped version 3 of its JavaScript SDK, and it is the kind of upgrade developers notice in their codebases before anyone notices it on a chart.

The release, @solana/web3.js v3, was announced on October 6, 2026, via the @solana_devs account on X. Its pitch is simple: smaller app bundles, cleaner dependencies and one consistent way to build JavaScript apps on Solana.

That matters because the SDK sits underneath a huge share of Solana apps. Packages tied to it logged over 3 million downloads in a recent week, so any change here ripples outward fast.

What changed in web3.js v3
The SDK rebuilds nine legacy web3.js classes on top of Solana Kit, the newer toolkit Solana introduced in February 2025. The familiar class names stay the same, preserving backward compatibility with established naming. What changed is the plumbing underneath, which now runs on Kit’s more modern foundation.

The goal, per the release, is to cut bundle sizes and simplify the dependency structure. The update also aims for consistent interfaces across three core building blocks: signers, clients and codecs.

The breaking changes developers need to know
Version 3 introduces several breaking changes. Methods which previously ran synchronously now run asynchronously. Functions like Keypair.generate() are affected, meaning code that expected an instant answer will now have to wait for a promise to resolve.

Numeric values must now use bigint, JavaScript’s type for arbitrarily large integers. Account data, meanwhile, moves to Uint8Array, a standard format for raw binary data.

A new wallet adapter package also arrives alongside the SDK. On compatibility, v3 supports Node.js 20.18 and above, modern browsers and React Native. The release also brings improved validation and transaction handling.

Release timeline and the fate of v1
Version 3.0.0 was tagged on GitHub on October 1, followed by a maintenance release, v3.0.1, on October 5. The public announcement came a day after that.

The legacy version 1 now moves to maintenance-only status. Version 3.0.0 is expected to be tagged as “latest” around October 19, 2026. Once that switch happens, new projects will start on v3 automatically.

Why this matters for Solana’s ecosystem
This update grows out of the Solana Kit tools introduced in February 2025. By rebuilding the classic classes on Kit, it gives existing developers a migration path that keeps the vocabulary they know.

The async shift and the move to bigint and Uint8Array mean migration work, testing time and the occasional bug that only shows up in production. For new projects, starting on v3 after it becomes the default around October 19 should be the easier path, since they will not carry legacy code to unwind.

What to watch next: how quickly major Solana projects migrate, whether the October 19 default switch surfaces new issues, and how the new wallet adapter package gets picked up across apps. With download counts in the millions each week, even a modest migration rate would put v3 in front of a large slice of the ecosystem fairly quickly.

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

September 2026 was the month Zoomex turned its TradFi expansion into a full trading calendar. After crossing the 50-contract milestone for Stock Perpetuals at the end of August, the platform spent September widening the lineup, adding ETF-linked perpetuals to its TradFi Zone, relaunching Zero-Fee TradFi, and opening the Zoomex World Trading Championship 2026 (ZWTC 2026) with a prize pool of up to 5 million USDT.

The backdrop was far less calm. The U.S. Senate failed to advance the CLARITY Act, the Federal Reserve raised rates for the first time since 2023, and Bitcoin still closed the month higher. Beneath that noise, Zoomex’s verifiable reserves stayed multi-chain, stablecoin-anchored and openly trackable, which is exactly what Transparent by Design is meant to deliver. This report reviews Zoomex’s on-chain reserves, chain and token composition, and platform metrics as tracked through DefiLlama, CoinMarketCap and CoinGecko, alongside the product developments that shaped the month.

Zoomex Overview Founded in 2021, Zoomex is a global cryptocurrency trading platform focused on Derivatives, serving over 3 million users across 35+ countries and regions and offering 700+ trading pairs. Its philosophy of easy-to-use, transparent balances and fair access to earnings shapes everything from its trading interface to the way it publishes proof of reserves. Zoomex has completed security audits conducted by Hacken and holds multiple regulatory registrations, including U.S. and Canada MSB, U.S. NFA, and Australia AUSTRAC.

September’s product story was the continued build-out of the TradFi Zone.

On September 1, Zoomex confirmed that its Stock Perpetuals lineup had grown past 50 contracts across four asset categories, timed with a Zero-Fee TradFi event that ran from August 28 to September 4. On September 8, the platform announced a further expansion covering more than 30 US and global equities across four categories, all margined and settled in USDT and trading around the clock. Two days later, Zoomex put the spotlight on TSLA and NVDA exposure through its rule-based derivatives offering, reinforcing Fair Access & Rule-Based Execution for every trader.

On September 18, ahead of the Federal Reserve decision, Zoomex highlighted its ETF-linked perpetuals, SPYUSDT, QQQUSDT, IWMUSDT, XLFUSDT, XLKUSDT and TQQQUSDT, available through the TradFi Stock Perpetuals section. The same day, it relaunched Zero-Fee TradFi, running from September 11 to October 11, 2026, which rebates 100% of actual trading fees on eligible stock contracts, commodity contracts and stock tokens, capped at 100 USDT per account.

On the competition side, Zoomex launched ZWTC 2026 on September 10 with a prize pool of up to 5 million USDT, its largest to date. The Squad Competition, with up to 2.5 million USDT in prizes and three separate leaderboards, opened on September 21 and runs until October 11 at 10:00 UTC. Alongside it, Zoomex Predict World continued to feature its established Long-Term event contracts, giving traders a longer-horizon complement to the 5 Minute, 15 Minute and 4 Hour markets. Together, these launches reflect a Refined Brand & Trading Experience built around one account and one rule set for crypto, equities, ETFs and commodities.

Exchange trade volume Zoomex’s exchange trade volume ranged from about $125M to $680M in September, with the month’s defining move arriving in its final third, according to CoinGecko. September volume ranged from roughly $125M to $680M, with the month’s low on September 13 and its peak on September 22. For scale, that peak sits at about two thirds of the $1.02B high recorded in August. 

Source: Coingecko On the pair side, BTC/USDT strengthened its lead at 53.5% of volume, up from 43.4% in August, followed by ETH/USDT at 13.7% and USDC/USDT at 11.6%. ETH has therefore overtaken USDC/USDT for second place. SOL/USDT contributes 3.9%, HYPE/USDT and XRP/USDT 1.6% each, and ENA/USDT 1.5%, while a tail of other pairs accounts for 12.6%. As in previous months, 100% of volume settles in USDT by CoinGecko’s currency breakdown, underscoring its role as Zoomex’s near exclusive quote and settlement currency. 

On-chain reserves Zoomex’s total on-chain assets stayed inside a narrow $34M to $38M band for the whole month, extending the durable step-up that began in August. DefiLlama’s CEX Transparency tracker shows reserves opening near $36M, easing to a monthly low of about $33.8M around September 10, rebuilding to roughly $36.5M by September 15, and reaching the month’s peak of about $38M around September 20. A pullback to roughly $35M followed by September 25, before assets climbed again to about $37M at month end. The live reading on October 13 stood at $34.9M.

Source: Defillama The contrast with the mid-year pattern is clear: there were no sharp spikes that unwound within days, and the base held. As always, this figure reflects verifiable cold and hot wallet holdings tracked by DefiLlama and sits alongside, not in place of, Zoomex’s separately maintained $50 million insurance fund.

Assets by chain Ethereum remains Zoomex’s largest chain by a wide margin, holding roughly $15.7M at month end versus about $16.5M on September 1, with a low near $15.1M around September 24. That is close to 42% of tracked assets. XRPL stays second at about $6.9M, after dipping to roughly $6.1M in mid-September and peaking near $7.4M on September 23. Tron fell from about $3.5M to around $2.0M by September 22, then jumped to roughly $4.0M by September 30, the largest late-month move among the major chains. Mantle rose from about $1.7M to $2.1M, Solana roughly doubled from about $1.0M to $2.0M, BSC slid from about $2.2M to $1.5M, while Base (about $1.45M) and Arbitrum (about $1.3M) stayed flat.

Source: Defillama The most unusual line is Bitcoin. Its balance sat near $0.8M until September 14, jumped to about $2.75M on September 15, climbed to roughly $3.3M by September 22, then fell back to about $1.6M on September 23 and $1.1M on September 24, ending the month near $0.95M. That round trip points to a temporary custody or settlement movement rather than a lasting reallocation, and it lines up with the BTC inflow and outflow bars in the flow data below. Zoomex’s reserves remain distributed across 14 networks, the same multi-chain footprint maintained throughout 2026, with OP Mainnet, Polygon, Vaulta, Doge and Sonic each holding under $0.5M.

Token balances Read in raw units rather than USD value, PEPE again dominates by count, but its trajectory reversed from August. The balance held near 8.7 billion units through mid-September, then stepped down to roughly 7.7 billion around September 17 and about 7.1 billion by September 20, a decline of close to 19%. Meme coin balances on an exchange typically mirror user activity rather than treasury decisions, so this looks like client withdrawals more than a deliberate reallocation. BONK stayed flat at roughly 2.5 billion units.

Source: Defillama TBY’s block-shaped presence continues to be the more interesting signal. It appeared at around 5.3 billion units in five separate windows, September 1 to 7, 10 to 11, 19 to 20, 24 to 25 and 29 to 30, and was absent in between. That on and off pattern is more consistent with temporary custody, a settlement cycle or a recurring product flow than with a held position.

USD inflows Source: Defillama Outside those windows, daily activity stayed shallow and mixed. Net flow across the month was slightly negative, yet total assets ended higher, which means price moves rather than deposits explain the stable balance sheet. The framing from August holds: movement was event-driven and concentrated in a handful of identifiable days, not the product of steady retail flow.

Inflows by token The token split shows what drove each of those days. The September 15 spike was almost entirely Bitcoin, at roughly $2.0M gross, and the September 23 outflow was the mirror image, with about $1.85M of BTC leaving, partly offset by roughly $0.4M of TRON inflow. That confirms the temporary Bitcoin build seen in the chain data.

Source: Defillama Stablecoins drove the rest. USDT left on September 1 (about $0.9M), September 19 (about $1.35M) and September 22 (about $1.6M), then returned on September 29, when roughly $1.65M of USDT arrived together with smaller USDC and TBY inflows. WETH was the one asset with clear accumulation, with inflows of about $0.85M on September 19 and $0.4M on September 20. XAUT recorded a small inflow of about $0.3M on September 2.

Token values (USD) Viewed by asset value, September was a rotation story. USDT started the month near $11.3M, held between $9.5M and $10.5M through September 18, then fell to about $8.6M on September 19, $6.9M on September 22 and a low near $6.6M on September 24, before rebounding to about $9.1M on September 30. At the same time, WETH stepped up from roughly $4.3M to around $6.1M between September 19 and 22 and held that level, which matches the inflow bars above. In other words, part of the stablecoin drawdown reappeared as ether exposure.

Source: Defillama XAUT slipped from about $5.35M to roughly $5.0M, a decline of around 7% that is largely a price effect, since gold retreated through September after its August high. Mantle’s MNT rose from about $1.5M to $2.0M, while ETH (about $1.6M), USDT0 (about $1.0M to $1.2M) and AAVE stayed broadly stable. The purple Bitcoin line shows the temporary spike to about $3.3M on September 22 and the return to under $1M afterwards.

Token breakdown The composition snapshot reads as liquidity first with measured diversification. USDT leads at 32.55%, followed by WETH (16.12%), XAUT (13.42%) and BTC (10.03%), which together account for roughly 72% of holdings. The rest is spread across MNT (4.55%), ETH (4.12%), USDT0 (3.48%), USDC (3.19%), AAVE (3.08%), TRON (1.71%) and an Others bucket of 7.73%.

Source: Defillama Several comparisons with August stand out. USDT rose from 27.96% to 32.55% and WETH from 12.45% to 16.12%, while XAUT eased from 14.94% to 13.42%. BTC jumped from 2.16% to 10.03%, which is consistent with the temporary Bitcoin build between September 15 and 22 rather than a strategic shift. Counting USDT, USDT0 and USDC, stablecoins make up about 39% of the portfolio, and ether exposure across WETH and ETH is about 20%. 

Individual stablecoins USDT makes up almost all of Zoomex’s tracked stablecoin balance. USDT opened September near $10.4M and closed around $9.1M, with a mid-month trough near $6.6M. USDC edged down from about $0.9M to $0.75M. 

Source: Defillama Total stablecoins Combined stablecoin holdings fell from about $11.5M on September 1 to a low of roughly $7.3M on September 24, a drop of around 36%, before recovering to about $9.9M on September 30. Net, stablecoins ended the month roughly 14% below where they started. Because total assets stayed in the $34M to $38M band, stablecoins slipped from about 32% of tracked assets at the start of the month to roughly a fifth at the trough, which reflects a shift in composition rather than a shrinking balance sheet. The late month rebound, which coincides with the $1.65M USDT inflow on September 29, suggests the rebuild was already underway as September closed.

Source: Defillama Platform community and user metrics Zoomex ended September 2026 with over 3 million registered users across more than 35 countries and regions. The platform’s Telegram community has grown from 76,277 members to 82,319, reflecting active engagement among Zoomex’s core retail trading base.

Zoomex’s daily active trader count consistently exceeds 1 million users according to independent review data, TradersUnion. The platform regularly adds new assets based on market demand combined with rigorous vetting, as of this report, Zoomex lists 486–495 cryptocurrencies and operates across 518–575 trading pairs depending on the market segment (spot or derivatives), a figure that has grown steadily through 2026.

ZoomexFounded in 2021, Zoomex is a global crypto exchange serving 3M+ users with 600+ trading pairs. Guided by the values of "Simple, User-Friendly, and Fast," Zoomex leverages a high-performance engine to ensure a fair, just, and transparent trading environment where every transaction is fully traceable and unbiased. With MSB (U.S./Canada), NFA, and AUSTRAC licenses and audits by Hacken, Zoomex provides institutional-grade security. Partnered with TGR Haas F1 Team and Emiliano Martínez, the platform mirrors elite precision and consistency, delivering a secure, low-barrier, and compliant ecosystem for traders worldwide.

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Disclaimer

This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.

Stargate Finance is pulling the plug on four blockchains. Support for Gravity, Camp, GOAT and Metis through Stargate v2 will end on October 23, 2026.

If you have liquidity parked in Stargate pools on any of those networks, the calendar is now your most important DeFi tool. Users are being urged to withdraw or bridge their assets before the cutoff to avoid losing access to their funds.

What is changing and when
The affected chains are Gravity Alpha Mainnet, Camp, GOAT Network and Metis Andromeda. All four are being cut because of low activity.

The move tracks a broader LayerZero Labs initiative. The company is winding down the off-chain infrastructure services it runs on chains that show minimal usage.

There are actually two deadlines here, and they hit different groups. The first, October 23, 2026, applies to Stargate v2 users and liquidity providers on the four chains.

The second lands a week later. LayerZero’s default DVN and Executor services for those same chains will stop on October 30, 2026.

A cross-chain message needs someone to confirm it is legitimate and someone to actually deliver it on the other side. DVNs and Executors are the off-chain services LayerZero has been running to handle those jobs by default. When LayerZero stops supplying its default versions, apps on these chains have to arrange their own.

Developers building on the impacted networks have until October 30 to move to new DVN and Executor configurations, where those are available.

Anyone holding canonical assets through the established, official bridges is unaffected. The official bridges between Ethereum and Metis remain operational, so users who came in that way can sit tight.

Part of a bigger cleanup
This is not the first round of cuts. Stargate and LayerZero have already deprecated support for other networks earlier in 2026, with Aurora, Gnosis and Taiko among the chains named in prior wind-downs.

And the biggest cut is still ahead. All Stargate v1 pools are scheduled to shut down across every chain on December 15, 2026.

What this means for users, LPs and builders
For liquidity providers, the practical message is simple: act early. Waiting until the final days before October 23 means competing with every other LP heading for the exit at the same time.

Metis users have a cushion that the others may not, since the official Ethereum-Metis bridges keep running. For Gravity, Camp and GOAT, the practical impact depends on what alternative routes remain available to their users once Stargate exits.

Developers face the trickiest homework. Any application on these chains that leans on LayerZero’s default DVN and Executor setup needs a new configuration by October 30. If no replacement exists for a given chain, cross-chain features built on that stack could simply stop working.

For anyone touching LayerZero-based protocols, the dates worth circling are clear. October 23 for Stargate v2 on Gravity, Camp, GOAT and Metis. October 30 for default DVN and Executor services on those chains. December 15 for the shutdown of every Stargate v1 pool.

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

Circle’s euro stablecoin, EURC, grew its market cap by $4.8 million over the past seven days. In a sector dominated by dollars, that counts as a respectable week.

The gain pushes EURC’s market cap to $497.12 million as of October 19, 2026, with 443.11 million tokens in circulation.

The numbers behind the week
EURC’s supply climbed 8.8% in the month leading up to October 15, 2026, reaching €441 million.

The token crossed €400 million in circulation back in August 2026.

EURC has grown more than 10x since its MiCA launch two years ago, according to the research findings.

Market share is where Circle really stands out. EURC commands roughly 60% of the euro stablecoin market, which is estimated at somewhere between $760 million and $810 million in total.

A small pond, with one big fish
The entire euro stablecoin segment makes up less than 0.3% of global stablecoin supply.

Meanwhile, the USD stablecoin market exceeds $300 billion.

Circle launched EURC in 2022 as a euro counterpart to USDC. Every token is backed 1:1 by euros held in reserve.

The token is issued by Circle Internet Financial Europe SAS. It falls under the direct supervision of France’s Autorité de Contrôle Prudentiel et de Résolution, known as the ACPR.

EURC lives on multiple blockchains, including Ethereum, Solana, and Base.

Why MiCA keeps showing up in the story
The research findings tie EURC’s expanding listings to regulatory clarity under MiCA. The token is available on centralized platforms such as Coinbase and Kraken.

It also shows up across decentralized finance, on protocols including Aave and Uniswap.

Beyond trading, Circle has positioned EURC for payments, foreign exchange, and treasury work. Partnerships with VisaNet and Thunes support those use cases.

The competition is not standing still
Circle is not alone in chasing the regulated euro stablecoin crown. Société Générale’s EURCV is one of the MiCA-compliant alternatives competing for the same users.

Still, EURC’s roughly 60% share suggests Circle’s head start has been hard to erode so far.

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

Ondo Finance and Superstate pulled ahead of the pack in the tokenized US Treasury bill market this past week. According to Token Terminal data, Ondo added $41.6 million in market cap over seven days, while Superstate added $34.2 million.

Together, that is roughly $75.8 million of fresh capital flowing into two issuers in a single week.

Who grew, and by how much
The weekly gains cover the period ending around October 19, 2026. Ondo led the way, with Superstate a fairly close second.

A tokenized T-bill product takes short-term US government debt and represents it as a token on a blockchain. Holders get exposure to Treasury yields and can move that exposure around on-chain instead of waiting on traditional settlement rails.

Ondo’s weekly jump came on the heels of a bigger milestone. On October 13, 2026, the platform crossed $3 billion in total tokenized US Treasury assets.

Its flagship product, USDY, accounted for over $2.3 billion of that total, at approximately $2.328 billion. OUSG, Ondo’s other Treasury offering, held approximately $319 million.

That haul made Ondo the leading platform by assets, according to RWA.xyz.

USDY’s roughly $2.328 billion edged past BlackRock’s BUIDL, which sat at about $2.2 billion in the same October 13 snapshot.

The top spot for a single product, however, belonged to someone else. Circle’s USYC held roughly $2.38 billion under management, keeping it narrowly ahead of both USDY and BUIDL.

So the leaderboard depends on how you count. Measured by platform, Ondo leads. Measured by individual fund, Circle holds the crown.

A market measured in billions
The total tokenized US Treasury market was valued at between $14.9 billion and $15.5 billion in mid-October 2026. Against that backdrop, Ondo’s $3 billion represents roughly a fifth of the entire sector.

The broader category is bigger still. Total tokenized funds reached $35.1 billion by early October 2026, with T-bill funds standing out as a leading category within that universe.

Superstate’s USTB product is now marketed under the Invesco Short Duration US Government Securities Fund branding, putting a traditional asset management name on an on-chain Treasury vehicle. USTB has posted strong daily leadership in some recent periods, with on-chain assets under management in the hundreds of millions.

Why the growth matters, and where it stalls
There is a catch. Use of these tokenized assets inside decentralized finance remains low, estimated at only 0.4% to 2%.

The vast majority of tokenized Treasuries are being bought and held, not deployed. They are sitting in wallets collecting yield rather than serving as collateral in lending markets or liquidity pools.

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

Kinetiq (@Kinetiq_xyz) will launch the Elysium mainnet on November 9, a Layer 2 network for @HyperliquidX that settles to HyperEVM and uses $HYPE for gas.

Kinetiq (@Kinetiq_xyz) has set November 9 as the mainnet launch date for Elysium, a Layer 2 network built for the @HyperliquidX ecosystem. TechFlow reported on October 19 that, according to official announcements, Elysium is the first L2 network in the Hyperliquid ecosystem.

What Elysium is designed to doElysium is a general-purpose, high-performance L2 built specifically for Hyperliquid. ChainCatcher reports that it settles to HyperEVM, is co-located with HyperCore, and uses $HYPE as its native gas token. It runs Conduit's G2 sequencer on an architecture that meets SOC 2 Type 2 standards, according to the same report.

Kinetiq first unveiled the project on August 24. Crypto.news reported that the network is meant to increase transaction capacity within the Hyperliquid ecosystem, with 50% of sequencer fees allocated to buybacks and burns of Kinetiq's $KNTQ token.

The team has pointed to limits in the existing HyperEVM environment as the motivation. CoinTurk reported that Kinetiq cited HyperEVM's dual-block architecture, restricted throughput and high fees during congestion, including basic swaps costing as much as $20. Elysium is intended to be more deeply integrated with HyperCore, the liquidity engine behind Hyperliquid, and to offer faster block times.

Technically, Chainstack's overview describes Elysium as an Arbitrum Orbit chain that executes on its own fast chain and settles to HyperEVM, with high-frequency trading and market making as the stated target workload. The testnet has been live since September 22, 2026.

Why it matters for HyperliquidKinetiq is best known as the protocol behind kHYPE. OAK Research describes it as a non-custodial liquid staking protocol on Hyperliquid, where users deposit $HYPE and receive kHYPE in return. Elysium extends the company beyond staking into trading infrastructure.

Analysts have framed the launch as a test of execution. MEXC News noted that Elysium must show it adds meaningful functionality rather than fragmenting liquidity, and that performance, liquidity and developer adoption can only be measured after launch.

Kinetiq's documentation still describes Elysium as pre-launch, with specifications and parameters subject to change before mainnet, according to Chainstack.

SourcesTechFlow: Elysium to launch mainnet on November 9
ChainCatcher: First Hyperliquid L2 Elysium mainnet launch
Chainstack: What is Elysium?

The Hyperliquid Policy Center has urged the U.S. Securities and Exchange Commission to revise its proposed Regulation Crypto Assets framework, submitting five recommendations covering token airdrops, secondary trading, developer protections, buybacks and state securities requirements.

Summary

Hyperliquid Policy Center says it has submitted five recommendations concerning the SEC’s proposed Regulation Crypto Assets framework.
The proposals seek clearer legal treatment for airdrops, secondary token trading, buybacks and developing blockchain networks.
SEC exemptions would permit qualifying token offerings of up to $5 million or $75 million under different conditions.
The group wants regulators to distinguish automated token repurchases from buybacks directed by centralized project operators.
The SEC’s public consultation closes October 20, while the proposed regulations remain subject to review and revision.

According to the policy organization’s October 19 announcement, it filed a comment letter supporting the SEC’s proposed rules while requesting changes intended to address how decentralized cryptocurrency networks operate. The group argues that the current draft leaves important questions unresolved for developers and token holders, particularly while networks are still being built.

The submission comes one day before the SEC’s October 20 deadline for public comments on Regulation Crypto Assets. The agency proposed the framework in August 2026 to establish specific registration exemptions for certain investment contracts involving cryptocurrencies.

Under the draft, qualifying projects could raise up to $5 million over four years through a startup exemption or up to $75 million within a 12-month period through a separate fundraising exemption. Neither provision is currently an approved exemption under Regulation Crypto Assets, and the final rules may differ from the published proposal.

Hyperliquid Policy Center seeks clearer rules for token airdrops
One of the group’s central recommendations concerns how free token distributions should be treated under U.S. securities laws.

The Hyperliquid Policy Center wants the SEC to write its existing airdrop interpretation directly into the final regulation. The group argues that receiving tokens without providing payment or another form of consideration generally does not satisfy the investment-of-money requirement associated with an investment contract.

BIG UPDATE: Hyperliquid Policy Center (@HyperliquidPC) has officially submitted a comment letter to the SEC, supporting Regulation Crypto Assets and proposing five key refinements.

The proposed regulatory framework includes:

– Up to $5M in token offerings over four years under… https://t.co/a9lq0Jcca9

— HypedLaunches (@HypedLaunches) October 19, 2026

In March, the SEC and Commodity Futures Trading Commission issued a joint interpretation addressing the application of federal securities laws to several cryptocurrency activities. The joint crypto classification guidance covered airdrops, staking and other blockchain activities while examining the circumstances under which tokens may be connected to investment contracts.

The policy center’s proposed change would provide specific regulatory language for qualifying token distributions. It wants the rule to focus on whether recipients provided tangible and definable consideration in exchange for the assets.

The group identifies wallet connections, sanctions screening and other routine delivery procedures as activities that should not automatically turn a free distribution into a securities transaction. Such requirements may be necessary before a user can receive tokens, even when the recipient has not paid the issuing project.

Its recommendation distinguishes administrative steps from activities performed as compensation for tokens. A project requiring participants to provide services after announcing a distribution could raise different legal questions under the existing interpretation.

The organization argues that formalizing this distinction would give developers and recipients clearer expectations when distributing tokens to network participants.

SEC proposal leaves secondary crypto trading questions unresolved
Secondary market trading forms another significant part of the Hyperliquid Policy Center’s submission.

The organization wants the SEC to explain whether tokens originally distributed through the proposed registration exemptions can subsequently be traded through decentralized protocols and other intermediaries.

The August proposal addresses certain cryptocurrency offerings and contains provisions concerning resale and state registration requirements. However, it does not establish a complete regulatory regime for every person or protocol facilitating transactions after tokens reach investors.

Earlier, crypto.news examined the proposed exemptions, including the separate fundraising limits and proposed safe harbor. The SEC’s announcement emphasized capital raising and disclosures, leaving the legal treatment of certain secondary-market activities to other regulatory requirements.

The policy center argues that the usefulness of the offering exemptions depends partly on whether recipients have a functioning market in which to transfer or sell their tokens.

Its comment refers to the SEC’s own economic analysis, which discusses how limited secondary-market liquidity could reduce the expected benefits of the proposed framework. The organization wants the agency to address this issue when adopting the final regulation.

The recommendation specifically includes blockchain protocols and people who facilitate trading without being registered as traditional securities intermediaries. The group has not argued that every platform should receive unconditional relief from applicable securities laws.

Existing requirements for securities exchanges, brokers and dealers remain relevant when an activity falls within their statutory definitions. The proposed offering exemptions would not automatically exempt all trading services from those obligations.

Hyperliquid group challenges the proposed developer safe harbor
The SEC’s draft includes a conditional safe harbor intended to address when a cryptocurrency is no longer tied to an investment contract.

Under the proposed framework, an issuer generally must complete or permanently cease the essential managerial efforts it previously represented or promised to investors. Meeting the specified conditions could allow the related token to be treated as no longer subject to that investment contract for federal securities law purposes.

The Hyperliquid Policy Center argues that the certification requirement could create difficulties for projects that have maintained that their tokens were never sold through investment contracts.

Its submission says developers might view the required certification as an implicit admission that a securities relationship previously existed. The group wants projects to be able to certify that their tokens were never tied to an investment contract without making a contrary declaration.

A second objection concerns timing. The organization believes the safe harbor should provide protection while essential managerial work is still underway, because projects face regulatory uncertainty during development.

The current proposal is more limited, with the safe harbor linked to the completion or permanent cessation of the promised managerial activities. Extending protections to unfinished projects would require the SEC to change the conditions described in its August release.

In a previous analysis of the regulatory framework, the proposed safe harbor was identified as distinct from the two fundraising exemptions. The safe harbor concerns the legal relationship between a token and an investment contract, while the exemptions address qualifying offers and sales.

The group has not received approval for its proposed changes. The SEC must consider the public consultation and any subsequent revisions before determining the contents of a final regulation.

Automated token buybacks draw a separate SEC recommendation
Token repurchases are another area where the Hyperliquid Policy Center wants more precise legal language.

The group is asking the SEC to distinguish buybacks that occur automatically under published blockchain rules from purchases made at the discretion of a centralized company or project operator.

Some cryptocurrency protocols use predetermined mechanisms to allocate trading fees or other network revenue toward purchasing tokens. In other arrangements, a company or foundation decides when to buy tokens, how much to spend and whether to change the program.

The policy organization argues that those arrangements should not automatically receive identical treatment when regulators assess whether a central party is directing the economic activities associated with a cryptocurrency.

It wants the SEC to incorporate its staff’s token buyback guidance into the final regulation or the accompanying explanation. The submission requests consistent use of the term “central party” and cautions against treating validators and other independent participants as one controlling group solely because they share economic incentives.

The distinction is relevant to Hyperliquid’s ecosystem, where token buybacks and transaction-driven mechanisms have attracted attention from market participants. However, the group’s request does not establish that any particular Hyperliquid token or program has received a regulatory exemption.

The policy center’s interpretation remains an interested-party recommendation. Whether a particular buyback is associated with an investment contract depends on the facts of the arrangement and the applicable law.

Federal protections could expire under the SEC’s draft
The group’s fifth recommendation addresses how long federal protections against certain state securities registration requirements should remain available.

Regulation Crypto Assets proposes federal preemption for qualifying securities offerings and some subsequent transactions. The provision would limit specified state registration requirements while preserving other applicable legal obligations.

The Hyperliquid Policy Center argues that those protections should remain effective after a project satisfies the proposed safe harbor. It is concerned that losing federal preemption at that stage could expose developers or token holders to a new set of state-level registration questions.

The comparison with congressional legislation has identified differences between the SEC’s proposed regulatory exemptions and the treatment of decentralized networks under the CLARITY Act. The SEC proposal concerns particular securities law requirements, while legislation could establish a more extensive statutory framework.

Federal preemption under the draft would not eliminate every state law affecting cryptocurrency businesses. State antifraud provisions and requirements governing activities beyond the covered securities offerings may continue to apply.

In its August proposal, the SEC established file number S7-2026-27 and set October 20 as the deadline for written comments. The rulemaking remains open for public input, and the agency has not adopted the Hyperliquid Policy Center’s five requested changes.

Hyperliquid’s HYPE has become Multicoin Capital’s largest hedge-fund position as the investment firm has reaffirmed its focus on crypto over standalone artificial intelligence investments.

Summary

HYPE ranks as Multicoin’s largest hedge-fund holding, with its position size undisclosed. Multicoin’s June research already identified HYPE among its largest liquid-fund investments. September wallet reports tracked Multicoin-linked transfers to Coinbase Prime without confirming completed sales. Paradigm’s expanded investment mandate retains crypto alongside artificial intelligence and robotics. Bloomberg reported that Spencer Applebaum, Multicoin’s general partner and co-head of venture investments, identified HYPE as the fund’s largest holding without disclosing its size.

Multicoin’s largest HYPE position follows months of ownership Applebaum told Bloomberg that Multicoin bought its HYPE exposure on public markets and generally holds publicly traded assets for several years. He declined to disclose the position’s size.

During the interview, Applebaum said Multicoin would keep investing in digital assets, citing the firm’s expertise in crypto. He questioned attempts to force connections between blockchain and artificial intelligence.

Multicoin’s own June 25 investment post establishes an earlier ownership disclosure. The firm said it had initiated a large position early in 2026 and continued accumulating, calling HYPE “one of the largest positions in our liquid fund.”

Written by Applebaum, Shayon Sengupta and Tushar Jain, the post described Hyperliquid as a blockchain and decentralized exchange designed for high-speed trading. Its investment argument centered on expanding the platform beyond cryptocurrency derivatives into other financial markets.

As crypto.news previously reported, Multicoin’s June valuation model projected a $319 HYPE price by 2028 under its base case. The coverage identified accumulation beginning in February and a three-day no-trade policy following publication of the research.

The June coverage tied that forecast to Hyperliquid’s earlier operating results, citing Multicoin’s estimate of $873 million in revenue on $2.9 trillion in trading volume during 2025. It recorded user growth from approximately 301,000 to 923,000 over that year, with open interest reaching $6 billion. Those were historical figures used in the investment case.

In June, Multicoin described HYPE as one of its largest liquid-fund positions. Applebaum identified it as the largest in the Bloomberg interview without disclosing its portfolio weight or how the allocation changed.

Multicoin’s $319 forecast rests on earnings and supply assumptions In its full June research report, Multicoin modeled approximately $8 billion in annual earnings by 2028 and applied a 20-times multiple. Its calculation produced a $160 billion valuation, which it divided by an adjusted supply of 502 million tokens to derive a price above $319.

The report presented a $109 bear case and a $689 bull case using different assumptions about derivatives-market growth and decentralized exchanges’ market share. All three figures were investment scenarios published in June, not realized returns or newly issued October forecasts.

Among the risks, Multicoin identified decentralization and governance, regulation, competition, interoperability between HyperCore and HyperEVM, token dilution, and bad debt. In its bad-debt discussion, the firm warned that illiquid markets and gaps through liquidation levels could leave the protocol with losses.

The shorter investment post linked its expansion thesis to HIP-3 markets covering assets such as commodities and equity indexes. It described prediction markets, options and portfolio margining as further growth opportunities, while acknowledging that the investment faced regulatory and technical risks.

Multicoin-linked transfers do not establish HYPE sales September reporting documented Multicoin-linked transfers to Coinbase alongside the firm’s public investment thesis. Lookonchain attributed a Sept. 24 deposit of 130,331 HYPE, valued at $12.15 million, to the investment manager.

The analytics firm put cumulative deposits into Coinbase Prime since July 28 at 4.23 million HYPE, worth approximately $285 million at the recorded transfer prices. Coinbase Prime provides institutional custody and execution services, so the deposits did not establish whether Multicoin sold the tokens afterward.

The available transfer reporting does not provide a complete hedge-fund balance sheet or a reconciliation of purchases, withdrawals and remaining holdings. A claim that Multicoin has continuously expanded its position would therefore go beyond the disclosed evidence.

Separate institutional buying appeared in a Sept. 25 report on Hyperliquid Strategies’ purchases. Lookonchain linked a wallet to the Nasdaq-listed treasury company and said it bought 494,200 HYPE worth $45.8 million over 16 hours.

The same wallet had accumulated 5.51 million HYPE worth roughly $476 million over the preceding month, according to that reporting. Those purchases concerned a public treasury company, not a disclosed reallocation by Multicoin’s venture-fund peers.

The company had reported approximately 29.3 million HYPE worth $1.9 billion as of June 30 after raising $647 million in equity capital, according to the September coverage.

Paradigm’s AI expansion retains a crypto mandate Paradigm raised its fourth fund with $1.2 billion in commitments, according to July 9 coverage of its announcement. Co-founder Matt Huang and managing partner Alana Palmedo announced the vehicle on July 8.

The firm said the fund would invest across crypto, AI, robotics and other technology fields while continuing to back companies developing markets and financial systems. Its announcement named Hyperliquid, Kalshi and Tempo among examples connected to that strategy.

The same coverage recorded Framework Ventures’ $400 million fourth fund in June for crypto, AI, robotics and energy startups. Haun Ventures raised $1 billion in May for crypto infrastructure, tokenization and AI agents.

Bitcoin’s recent decline has not undermined its broader recovery prospects, as reduced leverage and easing selling pressure suggest the market remains structurally healthy, according to Yusuf Fakhro, partner at ARP Digital.

Bitcoin is trading near $82,700 after recovering from a recent drop below $80,500, outperforming Ethereum and the broader altcoin market despite ongoing macroeconomic uncertainty.

The leading crypto asset fell from approximately $86,000 before stabilizing in the low $80,000 range, as weakness in technology stocks and elevated Treasury yields weighed on investor appetite for risk assets.

Fakhro attributed the decline primarily to broader macroeconomic pressures rather than crypto specific factors in commentary shared with Crypto Briefing, noting that Bitcoin’s correlation with the Nasdaq has climbed to its highest level since June.

Despite the downturn, Bitcoin outperformed Ethereum and the wider altcoin market, finding support near the average acquisition price of spot Bitcoin exchange traded fund investors.

Lower leverage supports Bitcoin’s recovery
Fakhro said derivatives market conditions suggest Bitcoin has absorbed recent selling without experiencing a major liquidation cascade.

Funding rates have fallen to their lowest levels since June, while open interest has declined to five month lows, indicating traders had already reduced leveraged exposure before the latest decline.

The analyst argued that reduced leverage leaves the market in a healthier position, lowering the risk of forced selling during another period of volatility.

He also pointed to changes in Bitcoin’s ownership structure, suggesting that substantial amounts of older supply have moved into the hands of investors who accumulated near current prices and remained invested through the recent market downturn.

With fewer persistent sellers, Fakhro believes a recovery in demand could support further gains once broader market sentiment improves.

He maintained his bullish outlook after previously identifying accumulation opportunities when Bitcoin was trading in the mid $60,000 range.

Inflation and rising oil prices complicate Fed outlook
Bitcoin’s next major test could come from the Federal Reserve’s October 27 and 28 policy meeting, as persistent inflation and elevated energy prices complicate the outlook for interest rates.

US consumer prices increased 3.7% annually in September, accelerating from 3.4% in August and exceeding economists’ expectations of 3.6%. Core inflation, which excludes food and energy, reached 2.6%, reflecting continued price pressures across the economy.

Meanwhile, oil prices have remained elevated amid disruptions to shipping through the Strait of Hormuz and escalating tensions in the Middle East.

Brent crude surged to approximately $110 per barrel last week before retreating toward $108 on Monday, as traders assessed potential additional Russian oil supplies following changes to US sanctions.

Higher energy costs have reinforced inflation concerns, raising questions about whether the Fed will need to maintain restrictive monetary policy for longer.

According to CME FedWatch probabilities reported Monday, traders assigned approximately an 85% chance that the central bank would keep interest rates unchanged at 3.75% to 4.00% this month, with roughly 15% odds of a quarter point increase.

Despite expectations for an October pause, markets continue to price in the possibility of additional tightening before year end, with December rate hike probabilities approaching 92%.

Elevated borrowing costs and persistent inflation could continue weighing on risk assets, including Bitcoin, particularly if energy prices resume their upward trajectory.

For Fakhro, however, the recent decline has not undermined Bitcoin’s broader recovery prospects.

The analyst considers weakness toward the low $80,000 range a potential accumulation opportunity, supported by reduced leverage, diminishing selling pressure and stronger demand than the rest of the crypto market.

He cautioned that a decisive break below that support area would warrant a more defensive outlook, while the upcoming Fed decision could determine whether Bitcoin extends its recovery or faces another period of macroeconomic volatility.

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

20h05 ▪ 5 min read ▪ by Luc Jose A.

Summarize this article with:

Can bitcoin reach 100000 dollars before the end of 2026? Bitwise considers this scenario still possible thanks to institutional demand, while LO forecasts a price between 85000 and 95000 dollars in the face of the return of inflation and rate hike risks.

In brief Bitwise believes that bitcoin could exceed 100000 dollars before the end of 2026. Institutional purchases and ETFs support the upside prospects for Bitcoin. LO forecasts a price between 85000 and 95000 dollars by the end of December. US inflation and the risk of new Fed rate hikes are slowing the market. Sustained crossing of 90000 dollars could accelerate the rebound towards 100000 dollars. Arguments supporting bitcoin at 100000 dollars Ryan Rasmussen, head of research at Bitwise, maintains a positive view despite the pullback of bitcoin around 82000 dollars. He believes that several underlying factors can support the market in the last weeks of 2026.

The analyst summarizes his scenario in a cautious statement :

We believe bitcoin will end the year higher, potentially above 100000 dollars.

This projection is based on several drivers :

Purchases made by institutional investors via ETF ; Accumulation of bitcoins by some companies ; Search for rare assets in the face of inflation ; Increase in public debt ; Progressive improvement of the US regulatory framework. Cryptocurrency investment products have recorded about 11.1 billion dollars in inflows since mid-July, according to James Butterfill, head of research at CoinShares. US spot bitcoin ETFs would have received nearly 6 billion dollars in the third quarter, including about 3.5 billion dollars in August.

This demand can reduce the amount of bitcoin available on the market. However, it does not guarantee an immediate rise. Butterfill points out that purchases have slowed and a real rebound will require regular institutional inflows.

A move from 82000 to 100000 dollars would represent an increase of close to 22%. Such a move remains possible in a volatile market, but it requires a significant improvement in the financial climate before December 31.

US inflation weakens the bullish scenario LO takes a more reserved view. Adam Morgan McCarthy, head of research at the company, rather expects bitcoin to evolve between 85000 and 95000 dollars until the end of the year.

This caution is mainly explained by the latest US data. The consumer price index rose by 0.6% in September compared to August and by 3.7% year on year. Core inflation, which excludes food and energy prices, increased by 0.3% over one month and by 2.6% year on year.

The rise in gasoline played a major role. This component jumped 9.1% in September and accounted for more than half of the monthly increase in prices. These figures reinforced fears of a new tightening of US monetary policy.

The Federal Reserve had already raised its key rate by 25 basis points in September, to a range of 3.75% to 4%. A new hike would make risk-free investments more remunerative and reduce the liquidity available for volatile assets like bitcoin.

According to McCarthy, a return of BTC towards 100000 dollars would require a drop in oil prices, a slowdown in inflation, and a change in expectations regarding the Fed. The market would notably have to abandon the hypothesis of a rate hike in December in favor of a pause.

The 90000 dollar threshold could revive the market Derivatives offer a third scenario. Luca Invernizzi, trader at Laser Digital, a Nomura subsidiary, believes that the recent retreat removed some of the most fragile leveraged positions. This purge could make the market more stable if buyers return.

The 90000 dollar level now constitutes an important technical zone. Sustained crossing could force traders betting on a decline to buy back bitcoin to close their positions. These forced purchases could accelerate the rebound towards 100000 dollars.

Conversely, the absence of new flows into ETFs and persistent inflation would limit this potential. Investors will therefore watch the next Fed decisions, energy prices, and institutional inflows.

The forecasts of Bitwise and LO are not certainties. They describe two trajectories that depend primarily on the macroeconomic context. Before aiming for 100000 dollars, bitcoin must first retake 90000 dollars and maintain this level despite rate pressure.

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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Super League stockholders have approved all proposals tied to Metaplanet‘s 2,100 BTC investment, clearing the way for the Nasdaq-listed company to be renamed Superplanet and become the Japanese firm’s U.S. Bitcoin treasury vehicle.

The proposals passed at Super League Enterprise, Inc.’s 2026 annual meeting of stockholders, held Friday and were disclosed Monday morning. The transaction itself was first announced in August.

Under the definitive agreement, Metaplanet, Inc. will contribute 2,100 Bitcoin and $2.5 million in cash through its wholly owned U.S. subsidiary, Metaplanet Holdings, Inc. 

JUST IN: 🇯🇵 Japan's Metaplanet to buy Super League for 2,100 BTC and $2.5 million 👀

This will give the 2nd-largest corporate BTC holder a U.S. listed Bitcoin treasury platform! 🚀 pic.twitter.com/0gucAALjAX

— Bitcoin Magazine (@BitcoinMagazine) October 19, 2026

In exchange, Metaplanet receives 44,859,400 shares of common stock at $3.00 per share, along with preferred stock and warrants.

At closing, Super League will be renamed “Superplanet, Inc.” and trade on Nasdaq under the ticker symbol “SUPA.” Its advertising and media activation business will continue as a distinct operating segment, and Matt Edelman will remain chief executive officer.

Among the measures stockholders approved were the issuance of common stock and warrants to Metaplanet and the corporate name change. The proposals also included an increase in authorized preferred shares from 10 million to 100 million, according to a summary of the meeting posted on X.

“Super League stockholders have voted to approve the proposed Metaplanet transaction, an important step in our transformation from a Bitcoin treasury company into a global Bitcoin-native financial platform,” Metaplanet CEO Simon Gerovich wrote on X. 

“Upon close, Superplanet will be our U.S.-listed Bitcoin treasury platform, providing direct access to U.S. capital markets and greater flexibility to opportunistically raise capital.”

Edelman framed the vote similarly in the company’s announcement: “Their approval brings us one step closer to redefining what this company can become.”

Closing is anticipated in the fourth quarter of 2026, subject to customary closing conditions, including required filings with the Nasdaq Capital Market. The shareholder approvals represent a required step but not the final one.

Super League said the arrangement is intended to establish conditions governing Metaplanet’s ability to dispose of its equity holdings following the transaction. The company did not provide details of exceptions to those restrictions in its announcement.

Metaplanet held 43,000 BTC as of August 18, describing itself as the third-largest corporate Bitcoin treasury among publicly traded companies. The combined structure is intended to give the group two listed Bitcoin treasury platforms — one on the Tokyo Stock Exchange, one on Nasdaq — each with its own investor base and reporting currency.

Super League connects brands with what it describes as a 3.3 billion-person global gaming population through advertising and branded content programs across gaming and digital media platforms. Metaplanet is a Tokyo-listed company building Bitcoin-based financial products and infrastructure.

Shares of Super League moved higher on the news. 

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

Ripple CEO Brad Garlinghouse has admitted that the collapse of the CLARITY Act hurt. He also says XRP no longer needs Congress to settle the question that hung over it for years.

Speaking during celebrations for Evernorth’s Nasdaq listing, Garlinghouse said the bill’s failure “definitely stung.” He added that he had personally put a lot of energy into getting the crypto market structure bill through Congress.

“We Have Clarity”

Garlinghouse said XRP holders are in a stronger position than the failed vote suggests. He pointed to the outcome of Ripple’s long court battle with the SEC, saying the federal judge wrote in her opinion that “XRP is not a security.”

“So, we have clarity,” he said.

That ruling came from Judge Analisa Torres in July 2023. She found that XRP is not a security by itself and that Ripple’s sales of XRP on public exchanges were not securities offerings. She also ruled, however, that Ripple’s direct sales of XRP to institutional investors did count as unregistered securities sales.

Regulators Are Filling The Gap

The CLARITY Act failed a Senate cloture vote 49 to 50 on September 15. Garlinghouse said the SEC and CFTC have stepped into rulemaking to cover what the bill was meant to do. He said there are also lessons to learn from what went wrong in Congress.

Can A Future Regulator Undo It?

Garlinghouse acknowledged that a future SEC or CFTC chair could take a harsher stance on crypto. He said that is possible, but argued that years of progress cannot simply be rolled back.

When the interviewer described it as being unable to “put the genie back in the bottle,” Garlinghouse agreed.

Why It Matters For XRP

Without a law from Congress, crypto’s rules now come mostly from regulators and courts. Rules made by agencies can be changed by future leadership more easily than an act of Congress. For XRP specifically, Garlinghouse is relying on the 2023 court ruling as the foundation for its legal status.

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Tom Lee sees crypto’s recent weakness as part of a broader selloff in AI stocks and Asian markets, as investors pull back from risk.

BitMine Immersion Technologies (BMNR) said on Monday its crypto, cash, and equity holdings were worth $15.1 billion on October 18, down from $16.2 billion a week earlier.

Most of that total is Ethereum (ETH). BitMine marked its Ether at $2,365 per token, using Coinbase prices, against $2,544 in the prior update. That is its lowest weekly mark since the update for August 16, according to its SEC filings.

The company bought 12,535 ETH over the week, taking its treasury to 6,041,481 tokens. That equals 4.9% of the 122.1 million ETH in supply, short of BitMine’s 5% goal. The buy nearly matched the 12,532 ETH BitMine added in the week to October 11.

Cash and marketable securities fell to $582 million, the fourth weekly drop in a row from $714 million on September 20. BitMine’s release gives no reason for the cash decline.

Lee Cites AI Stock Selloff Chairman Tom Lee warned in a post on X on October 13 that a slump in South Korean equities could hit crypto. He said in Monday’s release that investors’ appetite for risk has shrunk over the past few weeks. He tied that to concerns over AI funding and AI model safety. Lee also cited the escalating US-Iran war, anxiety ahead of the US midterm elections and rising bond yields worldwide.

Lee said those worries set off a selloff in AI stocks, including chip and memory makers. That selloff then spread to South Korea and Taiwan, whose stock markets those companies dominate, he said.

“Crypto is widely held in the US, Korea and Taiwan. So naturally, when investors in those regions de-risk, this creates spillover pressures in crypto markets,” Lee stated.

He noted that past price drops that came while fundamentals held up have offered attractive risk and reward. He said he expects the same this time, citing crypto’s exposure to modernizing financial rails and to agentic AI.

You may also like: OpenAI Says Research Model Raided Developer Wallet on Ethereum Testnet Starknet Considers Becoming an L1 to Reach Quantum Resistance by 2027 BitMine’s Weekly ETH Buys Shrink to 12,532 as Tom Lee Says Stacking Is Done Legal Note Drops The Finished-Buying Line Lee said in an October 7 video message that BitMine needed about 100,000 more ETH. BitMine’s next weekly release then added a line to its note on forward-looking statements, and that line cited a management statement that BitMine is largely finished buying ETH.

Monday’s note drops that statement. Its wording on buying matches the updates through the week to October 4, which cited continued weekly ETH acquisitions, without any explanation.

The same note lists Lee’s staking projections. He put annual staking revenue at $309 million on the 5,067,309 ETH BitMine has staked. That staked count has not moved in any weekly update since August 9. Fully staked, he said, the treasury would earn $369 million at a 2.58% seven-day yield.

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Stablecoins now total $300.3 billion, spread across 47 blockchains. Ethereum holds 54.1% of that supply, and Tron holds 31.4%, according to figures shared on X.

Those two chains together account for more than 85% of all stablecoin supply. The remaining 45 networks share what is left.

The numbers, and the fine print
The total is a milestone. Stablecoins are crypto tokens built to track a fiat currency, usually the US dollar, and they now form a market worth roughly $300 billion. Research findings put total supply at an estimated $300.3 billion to $302 billion as of early to mid-October 2026.

Ethereum’s exact share depends on who is counting. Across data sources, its slice of supply ranged from 47.7% to 54.2% during the same period.

Stablecoin Beat, measuring as of October 19, 2026, put Ethereum at around 48.4% and Tron at 31.5%. Other readings place Tron at approximately 31.2% to 31.5% as of mid-October.

The quarterly trend is where the story gets sharper. During Q3 2026, Tron added about $5 billion in stablecoin supply. Over the same stretch, Ethereum shed around $4.9 billion.

Supply versus usage
Tron processed approximately 73% of stablecoin transfer volume in Q3 2026, according to the research findings. That figure is well ahead of Ethereum’s share of flows.

The issuer side is even more concentrated than the chain side. Tether’s USDT and Circle’s USDC together make up around 85% of total stablecoin supply as of October 2026.

Further down the table, the fragmentation is real but thin. Chains such as Solana and BNB Chain each capture only low-single-digit percentages of total supply.

What this means
For Ethereum, a roughly $4.9 billion decline in a single quarter is not a crisis for a network holding well over a hundred billion dollars in stablecoins. Still, losing supply while a rival gains a near-identical amount is the kind of trend that compounds if it continues for several quarters.

The data-source spread also matters for anyone citing Ethereum’s dominance. With readings from 47.7% to 54.2%, the safest framing is that Ethereum holds roughly half, and the exact figure depends on methodology.

For Tron, commanding about 73% of transfer volume while holding about 31% of supply means its stablecoins are working much harder per dollar.

Concentration at the issuer level is the other risk to track. With USDT and USDC holding around 85% of supply, any regulatory, operational, or reserve issue at either company would hit the whole market, regardless of which chain the tokens live on.

The metrics to watch next are straightforward. Watch whether Tron’s Q3 supply gains continue into the next quarter, whether Ethereum’s share stabilizes near the top of its reported range or drifts toward the bottom, and whether any third chain breaks out of the low single digits.

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

A major concentration of Dogecoin worth approximately $36 billion is drawing attention as the digital asset approaches a critical support level near $0.081. Market participants are closely monitoring this price zone to assess whether it will anchor a recovery or signal further decline.

Holder concentration at riskThe current cluster of unspent transaction outputs (UTXOs) indicates that a significant number of DOGE holders acquired their coins around the prevailing market price. These clusters are notable because they represent a large group of investors who now sit at or near breakeven, modest profits, or early-stage losses.

Dogecoin previously failed to confirm a bullish trend continuation earlier in October, shifting market sentiment. The token is now testing support instead of building new momentum, and the missed opportunity for upward movement appears increasingly impactful as price hovers near support.

If the $0.081 level holds, it could provide enough support to absorb selling and potentially set a foundation for a rebound. However, a confirmed break below this region would likely test holders’ resolve and may intensify downward pressure.

Pivotal support level for DOGEThis $0.081 threshold has become a practical dividing line for the meme coin, separating the possibility of stabilization from the risk of a steeper correction. Retail and institutional traders alike are watching to see whether buyers step in with enough conviction to stabilize prices at this zone.

A sustained move above $0.081 would not automatically reinvigorate a bullish trend, but could decrease the likelihood of an immediate selloff. If demand fades and sellers overwhelm support, the next move for Dogecoin may be downward, with confidence among investors potentially eroding further.

The true test for Dogecoin now lies in whether the substantial cluster of holders around $0.081 can prevent a deeper slide or if selling pressure intensifies if the level fails.

Market sentiment and meme coin dynamicsInvestor sentiment and positioning play an outsized role in the price movement of meme coins such as Dogecoin. The inability to continue a bullish run earlier in the month may have signaled insufficient demand, leaving the market vulnerable as it approaches a key decision point.

Traders focused on meme coins will now pay close attention to the interplay between heavy holder concentration and overall market sentiment. The response at $0.081 could set the stage for Dogecoin’s next significant price movement.

Mini dictionary: UTXO (Unspent Transaction Output) is a blockchain term that refers to outputs of transactions that have not yet been spent in future transactions. UTXOs are a foundational part of how cryptocurrencies like Bitcoin and Dogecoin track ownership and settle transactions.

As market dynamics remain sensitive to both fundamentals and sentiment, the coming days may provide clarity on whether Dogecoin’s massive holder segment will support prices or trigger a new round of selling if confidence wavers.

Counterfeit wine is a quietly enormous problem. Cardano is pitching a fix that fits in the palm of your hand.

The Cardano Foundation’s on-chain verification system lets consumers confirm where a bottle of wine came from by scanning a QR code. As of mid-2026, more than 30 wineries in Georgia have adopted it, and over 100,000 bottles can now be traced on the blockchain.

That matters because fake wine is not a niche nuisance. Counterfeiting costs European producers an estimated €2.8 billion a year, and the people paying for it are winemakers and buyers alike.

How the verification actually works Think of it like a passport for a bottle. Each bottle gets a digital fingerprint, plus metadata describing its origin, and that record lives on the Cardano blockchain.

A buyer scans the QR code on the label. Within seconds, the system checks whether the bottle’s details match what was recorded on-chain.

Digital signatures do the heavy lifting behind the scenes. Put simply, each record carries a cryptographic seal that shows who issued it and whether anyone has tampered with it since.

The system does not replace paper. It works alongside traditional paper certificates, giving producers and buyers two separate ways to confirm a bottle is legitimate.

Suppliers can use the same verification tools as consumers. That means distributors and retailers further down the chain can check authenticity before a bottle ever reaches a shelf.

From a Georgian valley to an open-source toolkit The program’s home base is Georgia’s Bolnisi region. The Cardano Foundation built it in cooperation with the country’s National Wine Agency and other local partners.

The Georgian Wine Traceability Program officially launched in 2022, formalized through a Memorandum of Understanding between the parties involved.

In August 2026, an open-source reference implementation called OriginateNavio was released for wine provenance tracking.

In October 2026, the Cardano Foundation showcased the initiative and its potential impact on the wine and spirits market.

What this means for Cardano and the industry The Georgian program stands out because it has numbers attached. More than 30 wineries and over 100,000 traceable bottles is not global scale, but it is real usage in a real market.

Partnering with a national body like the National Wine Agency gives the system institutional weight that a purely private effort would lack.

OriginateNavio could be a key variable in wider adoption. By releasing the reference implementation as open source, the Cardano Foundation lowers the barrier for other producers.

A QR code only helps if buyers actually scan it, and changing shopper habits is a slower process than shipping software.

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

Winter Park, Florida, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Tron Inc. (Nasdaq: TRON), the largest publicly traded holder of TRON (TRX) tokens, today announced its successful election as one of the 27 Super Representative (SR) nodes on the TRON network, ranking #27 as of October 18, 2026 with 0.76 Billion in delegated TRX tokens.

As an SR, Tron Inc. will expand its digital asset strategy from TRX treasury accumulation into active participation in blockchain infrastructure. Tron Inc. will participate (via its wholly owned subsidiary) in block production, transaction validation, network security, and on-chain governance, further deepening its integration with the TRON ecosystem and capitalizing on its success as the leading settlement protocol for on-chain stablecoin and agentic AI payment solutions.

“This milestone marks an important step in our strategy to generate recurring on-chain revenue and contribute directly to the TRON network’s continued growth and resilience,” said Rich Miller, Chief Executive Officer of Tron Inc. The Company remains committed to responsible node operation and delivering value for TRX holders and the broader community.

About TRON DAO Founded in 2017, TRON blockchain is one of the world’s most popular layer-1 networks and the dominant settlement protocol for on-chain stablecoin payment. As of July 31, 2026, TRON blockchain hosts about $90 billion in TRC-20 USDT stablecoin, accounting for nearly half of the total global supply. With over 396 million user wallets internationally and cumulative transaction counts approaching 15 billion as of July 31, 2026, TRON blockchain ecosystem is the de facto global standard for on-chain USDT settlement.

According to a recent industry report by Allium, an on-chain research institution, about 90% of stablecoin payment volume settles on TRON. Annual USDT transfer volume grew at a rapid pace of over 40% per annum for three consecutive years to nearly $8 trillion in 2025. About Tron Inc. Tron Inc. is a publicly traded company pioneering blockchain-integrated treasury strategies.

As the public company with the largest TRON (TRX) tokens holdings, Tron Inc. is committed to transparency, and the adoption of decentralized finance for long-term value creation. In addition, through its wholly owned subsidiary, the Company designs, develops, and manufactures custom merchandise which includes toys and souvenirs for the world’s largest theme parks and other entertainment venues.

Many of the Company’s products are based on award winning multi-billion-dollar entertainment franchises that are featured in popular movies and books. The products are distributed worldwide at Walt Disney Parks and Resorts, Universal Parks and Destinations, United Parks and Resorts SeaWorld, Six Flags and other attractions.

Caution Regarding Forward-Looking Statements Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue”, “seek”, “commit” or other similar expressions.

These statements include, but are not limited to, statements regarding the Company’s continued expansion into blockchain-powered treasury holdings and long-term vision to build shareholder value through innovation and strategic leadership. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov.

Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.

For additional details, follow on X: https://x.com/TRON_INC Investor Relations Contact: Tron Inc. t.network (407) 230-8100 Source: Tron Inc.