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
Fully Homomorphic Encryption could unlock trillions in traditional finance for DeFi by enabling private lending, encrypted credit scores and confidential transactions. Opinion by: Jason Delabays, blockchain ecosystem lead at Zama Despite decentralized finance’s (DeFi) recent resurgence, most capital in traditional finance remains out of reach. Most will blame scalability, regulation or poor UX. The real blocker is far more fundamental: a lack of confidentiality. Solve that, and trillions will be unlocked. At its December 2021 peak, DeFi’s total value locked (TVL) hit an incredible $260 billion. Zoom out, however, and that figure starts to feel small, especially when the global financial system moves trillions every day. Foreign exchange alone sees over $7.5 trillion traded daily, and the global bond market’s worth more than $130 trillion. Read more