Asset manager VanEck attributed the broad decline in blockchain network revenue in September to lower volatility in the crypto markets. Network revenues across the blockchain ecosystem declined by 16% month-over-month in September, mainly due to reduced volatility in the crypto markets, according to asset manager VanEck. Ethereum network revenue fell by 6%, Solana’s fell by 11%, and the Tron network recorded a 37% reduction in fees, due to a governance proposal that reduced gas fees by over 50% in August, according to VanEck’s report. The revenue drop in the other networks was attributed to reduced volatility in the crypto markets and the underlying tokens powering those networks. Ether (ETH) volatility dropped by 40%, SOL (SOL) volatility fell by 16%, and Bitcoin (BTC) fell by 26% in September. Read more
Crypto treasury companies are already capitalizing on highly volatile digital assets, and tokenizing company shares introduces new risks. Digital asset treasury (DAT) companies that tokenize their stocks on the blockchain compound the risks to investors and their own businesses, according to several crypto industry executives. “Blockchains trade 24/7, whereas traditional markets have specific hours of operation,” Kadan Stadelmann, chief technology officer of the Komodo decentralized exchange platform, told Cointelegraph. Sharp onchain price movements that occur outside of traditional market operating hours could lead to a run on the stock of a treasury company that has issued both tokenized and traditional shares, without the company having sufficient time to respond to a price hit. Read more
Over $500 million in short liquidation pools sit between $2.89 and $2.73, putting XRP at risk of a sharp sell-off if the $3 support is not reclaimed. Key takeaways: XRP risks a 15% drop toward $2.60 if it loses the $3 support. Over $500M in long liquidations below $3 could accelerate the sell-off. Read more