Ethereum onchain activity tops 9.5 billion daily contract calls while the total value locked in tokenized real world assets reached $11.7 billion. Will Ether price follow? Key takeaways: Ethereum’s onchain activity is structurally higher, signaling durable growth. Institutional inflows and RWA tokenization are major catalysts for ETH demand. Read more
State Senator Peter Durant addressed Massachusetts lawmakers on Tuesday regarding his proposed Bitcoin reserve bill, but received no questions. Update (Oct. 9 at 7:15 pm UTC): This article has been updated to include a response from Peter Durant. A bill intended to establish a Bitcoin strategic reserve for the US state of Massachusetts received a tepid response after its first legislative action in eight months. In a Tuesday hearing of the Massachusetts legislature’s Joint Committee on Revenue, state Senator Peter Durant testified regarding the bill he sponsored, “an Act relative to a Bitcoin strategic reserve.” Read more
Chainalysis says $75 billion in crypto tied to illicit activity could be recoverable — a figure that may influence nations weighing official crypto reserves. As the United States and other countries weigh the prospect of building national cryptocurrency reserves, new research from Chainalysis suggests governments may already be within reach of tens of billions of dollars in potentially recoverable onchain assets — a development that could intersect with those reserve discussions. In a report published Thursday, Chainalysis estimated that crypto balances linked to illicit activity exceed $75 billion. That total includes roughly $15 billion held directly by illicit entities and more than $60 billion in wallets with downstream exposure to those entities. The blockchain analytics company said darknet market operators and vendors control more than $40 billion in crypto assets on the blockchain. Read more