Clarion Vale

When most people in crypto hear about @Pyth Network , the first thing that comes to mind is “oracle for DeFi.” And yes, that’s where it started – bringing high-quality real-time market data on-chain so protocols could function without centralized choke points. But what excites me most about Pyth today isn’t just its role in DeFi. It’s the much bigger opportunity: transforming how market data itself is distributed, priced, and consumed – not only in Web3, but across the $50B+ global market data industry.

Think about it. Market data is the backbone of every financial decision, from a retail trader checking prices to institutions running multi-billion-dollar strategies. Traditionally, this industry has been dominated by a handful of big players with restrictive licensing, limited transparency, and outdated distribution models. Pyth flips this model on its head. Instead of data being locked away, it’s contributed directly by top exchanges, trading firms, and financial institutions, then aggregated, validated, and published on-chain – accessible globally, with cryptographic guarantees of integrity.

And now, with the #PythRoadmap moving into Phase Two, the vision is expanding. We’re talking about a subscription product for institutional-grade data – not just numbers on a screen, but a full suite of feeds that can rival the incumbents. Imagine hedge funds, quant shops, and even fintech startups being able to plug into Pyth for reliable, comprehensive, and cost-effective data – with a transparent pricing model, all powered by blockchain rails. This isn’t hype. It’s the logical next step for a network that already secures billions in on-chain value across multiple ecosystems.

The $PYTH token is at the heart of this design. It’s not just a speculative asset – it aligns incentives. Data providers are rewarded for contributing high-quality feeds, the DAO gains revenue from data subscriptions, and token holders have governance rights over how this ecosystem evolves. In short, PYTH the coordination layer that keeps contributors motivated and ensures the network remains sustainable as adoption grows.

What stands out to me is how Pyth is positioning itself for institutional adoption. DeFi was the first proving ground, but the bigger story is becoming a trusted, comprehensive data source for both crypto-native and traditional players. As more institutions explore blockchain rails for settlement, trading, and infrastructure, they’ll need reliable data that meets their standards. Pyth is one of the few projects that can realistically bridge that gap.

To me, Pyth Network represents more than just another “oracle project.” It’s a case study in how Web3 infrastructure can disrupt legacy industries by solving real pain points – in this case, the inefficiencies and gatekeeping in market data distribution. We’re still early, but the direction is clear: Pyth isn’t just building for crypto traders, it’s aiming to redefine how the world accesses financial information.

The next few years will show whether this vision materializes. But if Phase Two delivers as planned, I wouldn’t be surprised to see Pyth become a household name not just in DeFi circles, but in traditional finance too. And that’s why I’ll be watching closely.

👉 Follow @Pyth Network for updates, and keep an eye on $PYTH the roadmap unfolds. This isn’t just about another token – it’s about rewriting the playbook for global market data.

#PythRoadmap $PYTH

يسمح التكامل لمستخدمي TRON بالوصول إلى سندات الخزانة الأمريكية المرمزة وكسب عوائد مستدامة من خلال استراتيجيات الأصول الواقعية.

نيويورك – 7 يوليو 2025 – أعلنت بلوم، أول سلسلة كاملة ومجموعة بيئية مصممة خصيصًا لتمويل الأصول الواقعية (RWAfi)، عن تكامل استراتيجي مع TRON لإطلاق SkyLink عبر شبكة TRON. الآن، لدى قاعدة مستخدمي TRON العالمية الواسعة، التي تولد بعضًا من أعلى أحجام العملات المستقرة ومعدلات المعاملات في عالم التشفير، وصول مباشر إلى العوائد المدعومة بالأصول من سندات الخزانة الأمريكية المرمزة، والائتمان الخاص، ومنتجات مالية أخرى من العالم الواقعي الصادرة عن بلوم.

OpenLedger is a decentralized blockchain platform that focuses on developing the underlying infrastructure for data supply during AI model training. OpenLedger has been a leader in the field for the past decade and has established itself as the data blockchain for creating smarter, more verifiable AI models.
OpenLedger’s decentralized data ecosystem is underpinned by its innovative proof of attribution (PoA) consensus mechanism. Under PoA, contributors' supplied data is tracked, monitored, and compensated based on their contributions to different types of model training.
However, costly centralized GPU cloud providers are a significant hurdle to expanding the OpenLedger network further. These providers often impose unnecessary constraints, such as additional hosting fees and bottlenecks that limit the supply of compute to smaller projects. As a result, centralized cloud providers like AWS and Google Cloud can be prohibitive in further building out OpenLedger. io.net offers an alternative solution.
Expanding Decentralized AI modeling with io.net
By tapping into the io.net network of decentralized cloud compute, OpenLedger gains access to vast computational resources for a fraction of the cost of the centralized providers. This enables OpenLedger to expand its offerings by processing larger data sets at a more efficient price, ultimately improving performance and allowing OpenLedger to scale faster by empowering more end developers.
io.net benefits from the partnership by having a highly scalable model in constant demand for cheap GPU cloud compute. It further elevates io.net’s reputation as an affordable alternative to centralized providers and incentivizes io.net GPU providers to remain on the network by having a consistent buyer on the other end.
The Future of Decentralized AI Modeling and Cloud Compute
As OpenLedger looks to move of its testnet, the partnership with io.net offers the potential for innovative solutions for the future of decentralized AI build-out. Opportunities like the expansion of real-time multi-AI agent systems and domain-specific chatbots could be built on and executed by decentralized AI protocols like OpenLedger and powered by io.net’s decentralized GPU cloud network.
The partnership also represents a more holistic view of the build-out of decentralized protocols in general. By partnering, io.net and OpenLedger are further expanding the use cases of decentralized models, providing competitive alternatives to centralized providers, ultimately creating more efficient models, and passing on the benefits to the end user.
#OpenLedger $OPEN

@OpenLedger

OpenLedger:- The next generation of blockchain technology depends on fresh, young minds to drive it forward. Many Web3 brands are now focusing on university students—educating them and ensuring they can contribute to the future of crypto.
Just in June 2025, two of the biggest Web3 names announced major education initiatives:
Ripple partnered with Pakistan’s Ministry of IT to launch campus‑wide blockchain workshops.Binance unveiled a $200 million APAC education incentive, funding university programs and student research across the region.
Building on this momentum, AI‑blockchain platform OpenLedger has teamed up with UC Berkeley’s “Blockchain at Berkeley” group. As an on‑chain data layer for AI, OpenLedger will enable students to build and train domain‑specific AI models – and offer a decentralized alternative to OpenAI and Google’s centralized infrastructure.

OpenLedger Partners with UC Berkley’s Student-led Blockchain Group
OpenLedger utilizes an EVM-compatible layer 2 blockchain to keep up the smart contracts. With its new economic model of “Payable AI”, OpenLedger aims to ensure fair compensation for data creators and the Students who would be participating in building the AI Models. It
As per the press release shared with BrandTalk, OpenLedger will be offering grants for standout model development and valuable data contributions. This is aimed at encouraging students and researchers to build innovative AI models using the OpenLedger infrastructure. The kind of decentralized AI models that would be developed under the partnership include areas such as healthcare, smart cities and DeFi.
Interestingly, the news also aligns with its announcement of a $250 million On-chain incubator program. The targeted funds aim to support developers and researchers in building on OpenLedger.

Young Adults Lead the Crypto Adoption
The million-dollar bets by web3 brands such as OpenLedger on integrating yound minds into Blockchain revolution does entails a reasonable implication. Younger adults are indeed the dominant demographic in crypto adoption worldwide.
In 2024, 34 % of all cryptocurrency owners fell into the 24–35 age bracket. This is more than any other group, making them the single largest cohort of holders globally. A more recent 2025 industry overview notes that 68 % of all crypto investors are aged between 18 and 34.
In particular, Gen Z is especially engaged. Globally, Gemini data shows that 51 % of Gen Z adults (ages 18–29) report current or past crypto ownership—compared to just 35 % among the general population.
Infact,  in many markets such as UK, US, Singapore, France, their ownership rates exceed 50 %.

@OpenLedger #OpenLedger $OPEN

مع استمرار الاتجاه الصعودي في سوق العملات المشفرة، لفتت شبكة بلوم انتباه المستثمرين بعد الإعلان عن خطط لتوكنة الأصول الحقيقية (RWA) بقيمة تتجاوز 1.25 مليار دولار. في هذه الأثناء، ظهرت FXGuys ($FXG)، وهي توكن ناشئ على شبكة إيثريوم، بسرعة كخيار رئيسي للمستثمرين الذين يبحثون عن عوائد مرتفعة.
هل ستستمر شبكة بلوم في الارتفاع، ولماذا يتدفق المستثمرون إلى FXGuys ($FXG)؟ دعونا نكتشف!
تسعى شبكة بلوم لتوكنة 1.25 مليار دولار من RWAs
أعلنت شبكة بلوم عن خطط لتوكنة الأصول الحقيقية المتعددة (RWAs) بحلول نهاية 2024. وفقًا للإعلان في 22 سبتمبر 2024، تهدف شبكة بلوم إلى توكنة 1.25 مليار دولار في RWAs، بما في ذلك مزارع الطاقة الشمسية، ومطالبات Medicaid، وحقوق المعادن.

Plume:- The tokenization of Real World Assets (RWAs) is a booming phenomenon in Web3. The industry is now witnessing new categories of assets being brought onchain – from startup equity deals to public equities themselves.
As the RWA market and trading volumes continue to grow, Plume, backed by Galaxy Ventures, has launched an accelerator program to support emerging RWA startups.
Operated by Odisea, the program is run in coalition with leading fintech and blockchain players. These include Galaxy Ventures, Morpho, OKX Ventures, Anchorage Digital, Centrifuge among others.

Which RWA Startups Will Receive Funding and Support
The Ascend Accelerator program slated to run from September 1 – October 30 will support only 6-8 RWA Startups. These companies are set to receive mentorship sessions and support from leading founders and experts.

Few of the notable names that will provide selected startups with mentorship include Yzi Labs’ Investment Director Nicola W, Coinbase Ventures’ Investor JK, partner from OKX Ventures – Benson Y. Other mentors will be founders and CEOs of Centrifuge, Plune, Agora among others.
Things that will be taught to selected RWA founders include:
1. preparing fundraising pitches for leading VCs,
2. helping work on the products with legal support to ensure regulatory standards, and
3. strategic support for customer acquisition and market positioning.
Accordingly, the program is dividing into weeks with each week focusing on different facets of the product – from marketing and shipping to Protocol design, user acquisition to Fundraising.
The accelerator will culminate in a Demo Day where founders will feature their progress to a curated audience of industry leaders and institutional investors. If successful, there are chances of a potential access to a $500,000 discretionary fund provided by partner sponsors to scale standout solutions.
Also Read: Alchemy Launches New Blockchain Engine
Booming RWA Market
The launch of Ascend comes at a pivotal moment for the RWA sector which has swelled into a $25 billion market. This is nearly five times its size since 2022. Tokenized U.S. Treasuries alone have ballooned from a $100 million niche to a $7.5 billion market. The market is projected to reach $50 billion by year end and $4 trillion by 2030 (McKinsey).

According to Plume, “RWAs represent crypto’s biggest unlock yet — not just by bringing existing financial products onchain, but by allowing us to reimagine how they’re accessed, traded, and structured.”
However, it still continues to grapple with challenges. These include fragmented infrastructure between DeFi’s permissionless innovation and the compliance demands of institutional investors. The accelerator program like these can help budding RWA projects tackle these challenges and drive new innovations.
@Plume - RWA Chain $PLUME #plume

Stablecoin issuers are moving toward bank charters in the United States, Tether is planning a U.S. product, and the Bank of England has proposed caps on holdings of systemic stablecoins.
Ripple has applied to form Ripple National Trust Bank, a federal trust institution that could custody assets and, subject to separate Federal Reserve decisions, seek account access to central bank payment rails.
Tether plans a U.S.-domiciled stablecoin called USAT, and DBS, Franklin Templeton, and Ripple agreed to enable trading of tokenized money market fund shares, which places bank-grade cash equivalents closer to on-chain payments and settlement.
The Bank of England has proposed limits of 10,000 to 20,000 pounds per individual wallet for systemic stablecoins, with 10 million pounds for businesses, a structure aimed at payment use and financial stability safeguards rather than large-scale savings balances.
The U.S. path now hinges on two linked outcomes, the federal trust bank perimeter and whether any issuer gains Federal Reserve account access.
The trust charter, as sought by Ripple, brings OCC supervision, fiduciary duties, periodic examinations, and formalizes how the issuer holds reserves in cash and short Treasuries.
The second step, Federal Reserve access, is discretionary and guided by the central bank’s Account Access Guidelines. Courts have affirmed the Fed’s ability to deny access in novel cases, which means a charter is a prerequisite but not a guarantee.
If a payment-stablecoin issuer were admitted, reserves could be placed directly at the Fed, earning interest on reserve balances. This would reduce duration and banking-counterparty risk and simplify liquidity management during redemptions.
If access is not granted, the reserve model continues to rely on T-bill ladders, government money market funds, and systemically important custodians.
The revenue mechanics are straightforward and quantify the policy stakes
With policy rates off their 2023 peaks but still positive, the carry on fully reserved balances remains meaningful at scale. Per Federal Reserve data, interest on reserve balances is about 4.4%, while 3-month bills sit around 4%.
That spread guides a simple two-track model for a dollar stablecoin in 2026. If an issuer such as Ripple’s RLUSD held $5 billion of average reserves and had Fed access, gross annual carry would be about $220 million at 4.4%.
If access is unavailable and reserves sit in 3-month bills, gross carry would be about 200 million dollars at 4.0%. Net figures depend on custody and administration costs, which are commonly discussed in a 10 to 20 basis-point range, before operating expenses and compliance.
ScenarioAvg reservesYield proxyGross carryFee drag (10–20 bps)Net before opexFed access, IORB$5.0B4.4%$220M$5–10M$210–215MNo access, T-bill ladder$5.0B4.0%$200M$5–10M$190–195M
This carry math also clarifies competitive conditions. Fed access would allow a bank-chartered issuer to advertise a cash reserve profile at the central bank, simplifying liquidity risk, and may compress external custody fees.
Without access, the economics converge on short Treasury yields minus fees, which is workable at scale but less differentiated.
The policy question is therefore less about whether stablecoins can be fully reserved, and more about whether reserves sit at the central bank or in market instruments with custodians. That distinction informs how fast redemptions clear in stress and the capital that intermediaries require to stand behind settlement.
Tether’s planned USAT adds a second U.S. pathway.
Tether intends to issue a U.S. product that aligns with federal guardrails and disclosure regimes, which would allow onshore distribution with U.S.-based custodial partners.
If USAT obtains broad listings across U.S. brokers, payments, and fintech networks after launch, the U.S. market share could shift over several quarters.
A base case of 5% to 10% U.S. share by late 2026 assumes gradual approvals and integration cycles, while a high case of 10% to 20% assumes faster merchant onboarding and wallet distribution.
The split model, with USDT focused offshore and USAT onshore, diversifies regulatory exposure and may narrow the U.S. distribution advantage of incumbents that moved earlier on U.S. licensing.
In the United Kingdom, the proposed caps would reframe how GBP-pegged stablecoins are used. The Bank of England’s approach is designed for payment functionality and orderly redemption under stress, rather than large discretionary balances.
Caps constrain consumer stores of value and corporate treasury balances, and the Financial Conduct Authority’s consultation proposes same-day or next-day redemption expectations that push backing portfolios toward very short-duration instruments.
That combination limits yield and makes the business model resemble a narrow bank or e-money program. UK-based DeFi liquidity would face natural ceilings because domestic users, trading venues, and liquidity providers could not warehouse large GBP balances on chain.
Cross-border users and EU or U.S. venues would continue to intermediate larger pools without UK caps, which shifts depth away from GBP trading pairs sourced in the UK.
A simple utilization model shows how the cap shapes addressable float.
Using a midpoint 15,000 pounds per wallet and a 25% to 40% utilization haircut for compliance and off-ramping behavior, retail float scales even with adoption, then plateaus.
The plateau is not permanent because additional wallets and merchant balances add capacity, but the cap changes the slope.
Retail usersCap per walletUtilizationPotential consumer float4 million£15,00025–40%£15B–£24B6 million£15,00025–40%£22.5B–£36B
These constraints shift the center of gravity toward merchant acquiring, card networks, and bank tokenized deposits, since payment use can scale through throughput rather than cached balances.
For crypto-native activity, UK wallets would move value through GBP rails for settlement, then recycle into USD or EUR stablecoins or tokenized money market funds where permitted. The DBS, Franklin Templeton and Ripple arrangement is relevant here.
Tokenized money market funds give exchanges and payment firms a way to hold cash equivalents in a form that is compatible with blockchain settlement and brokerage operations.
A combined stack in which a regulated issuer handles the payment token and a regulated asset manager handles the cash equivalent reduces the distance between money market instruments and transactional money, although governance and redemption mechanics remain distinct.
The question of winners depends on the jurisdiction.
In the United States, combining a national trust charter and adherence to federal stablecoin rules should favor issuers that can meet bank-grade compliance, publish reserve disclosures at a monthly cadence, and integrate with traditional payment networks.
If a first issuer gains Federal Reserve account access, the reserve advantage would reset the competitive frontier because the balance sheet would be centered on central bank money, not custodied market instruments.
In the United Kingdom, caps and redemption standards favor payment providers, banks, and tokenized deposit models, while they constrain large on-chain GBP balances for speculative or liquidity-provision purposes.
In both cases, reserve income will compress if rates fall, which puts more weight on scale, operating efficiency, and distribution.
#Write2Earn #writetoearn
$BTC $XRP $ETH

The Fed’s interest rate decision, a crucial one for Bitcoin and altcoins, will be announced today. While it’s generally accepted that the Fed will cut interest rates, there’s speculation about whether it will implement a surprise 50 basis point cut.

While the Fed’s interest rate decision is eagerly awaited, analysis firm QCP Capital said that the Fed is expected to start the interest rate cutting cycle with a 25 basis point cut.

QCP analysts noted that investors are focusing on 2026 as the Fed’s intention to begin interest rate cuts in September is clear in the markets.
At this point, QCP stated that currently the market is pricing in three interest rate cuts in 2025 and three in 2026.
Powell’s press conference and remarks will provide more details about the Fed’s next rate cuts and its near-term policy, analysts said.
A more decisive stance on inflation would signal a slowdown in the pace of interest rate cuts, particularly in an environment where price pressures are mounting, tariff policy is not yet clear, and geopolitical risks remain unresolved.
Analysts, who noted that Bitcoin and cryptocurrencies have recently recovered, noted that any

in the Fed’s dot plot or more hawkish messages could negatively affect the market.
At this point, analysts noted that Bitcoin and altcoins have consistently outperformed stocks since August, and added, “Even if the Fed begins interest rate cuts tonight, cryptocurrencies could continue to underperform relative to stocks despite the looser liquidity environment.”

$BTC #Write2Earn

تدخل DEXs الدائمة مرحلة “إطلاق الصواريخ” حيث تصل أحجام التداول إلى أعلى مستوياتها، مع انضمام عمالقة مثل بينانس وترون إلى السباق.

تستمر المنصات مثل Hyperliquid و Aster في تحطيم الأرقام القياسية، مما يجعل المنافسة تحت الأضواء الأكثر سخونة في موسم DeFi هذا. هذه هي اللحظة التي يكون فيها المستثمرون على السلسلة متحمسين لـ “الصعود على متن السفينة” قبل أن يصبح السوق مزدحمًا للغاية.

اللاعبون الكبار يمنحون “الضوء الأخضر”
لم يعد صعود DEXs الدائم مجرد قصة داخل مجتمع DeFi — يبدو أنه يتحول إلى خطوة استراتيجية رئيسية عبر الصناعة بأكملها. ذكر الرئيس التنفيذي لبينانس CZ مؤخرًا Aster، DEX دائم من الجيل التالي، مما أحدث تأثيرًا متتالٍ بين 8 مليون من متابعيه.

BNB crossed the $1,000 mark for the first time on Sept. 18, briefly touching $1,007 before retreating to $997, according to CryptoSlate data.
The surge capped a 12% weekly gain and extended the token’s year-to-date rally to more than 42%, making it one of the top-performing large-cap assets of 2025.
BNB is a crypto token founded by Binance, the largest crypto exchange by trading volume. The token plays a central role in the BNB Chain as it is used to pay transaction fees, participate in governance, and also secure the blockchain network through delegated proof-of-stake validation.
Binance co-founder and former CEO Changpeng Zhao reflected on the milestone, noting the journey from BNB’s $0.10 initial coin offering price in 2017 to today’s four-figure valuation.
“Watching BNB go from $0.10 ICO price eight years ago to today’s $1,000 is something words cannot explain,” Zhao wrote, thanking community members and long-term holders for their support.
He added that the achievement highlighted collective perseverance, saying:
“We had our challenges along the way, but we worked hard, we built, and we held. It’s truly a community effort.”
Meanwhile, BNB’s ascent has rewarded early adopters handsomely.
Blockchain analytics firm Lookonchain highlighted the example of a wallet identified as “Diamond Hand 0x8503” that acquired 999 BNB for less than $1,000 about eight years ago. That stake is worth roughly $1 million at today’s prices, translating into a return of 1,000x.
What drove BNB’s price?
Market analysts have pointed out that BNB’s all-time high price reflects the broader momentum across digital assets after the Federal Reserve delivered a fresh rate cut.
Historically, lower borrowing costs have fueled appetite for risk assets, and cryptocurrencies have been no exception.
According to them, BNB’s run exemplifies how easing financial conditions can accelerate demand, pushing prices to record levels.
Beyond macroeconomic factors, regulatory developments surrounding Binance have also shaped sentiment.
Earlier in the week, reports emerged that the exchange was in talks with the US Justice Department about lifting the requirement for an independent compliance monitor, which was imposed under a $4.3 billion settlement in 2023.
At the same time, the crypto token is also attracting significant institutional interest, with several firms adopting it as a treasury reserve asset.
In addition, talks about a potential BNB-focused spot exchange-traded fund (ETF) product are also gaining momentum, with VanEck recently filing for a BNB fund.
BNB Market Data
At the time of press 11:39 am UTC on Sep. 18, 2025, BNB is ranked #5 by market cap and the price is up 4.15% over the past 24 hours. BNB has a market capitalization of $138.24 billion with a 24-hour trading volume of $4.31 billion. Learn more about BNB ›

BNB
11:39 am UTC on Sep. 18, 2025
$993.19
4.15%
Crypto Market Summary
At the time of press 11:39 am UTC on Sep. 18, 2025, the total crypto market is valued at at $4.09 trillion with a 24-hour volume of $212.65 billion. Bitcoin dominance is currently at 57.03%

$BNB #Write2Earn

Bitcoin price trades near $117,000 after the Federal Reserve decision on interest rates, as the 1,065-day post-halving window approaches.
The Fed cut rates by 25bps yesterday, placing Bitcoin’s near-term path at the intersection of policy and a cycle marker Axios says has historically captured a “final high” roughly 1,065 days after a prior cycle low.
The test window runs through late September and early October, then the market will trade into Thanksgiving on flow, dollar, and rate dynamics that can either extend the advance or start the topping process that prior cycles paired with drawdowns of 40 to 60 percent, according to Axios.
Spot ETF demand is the first lever to watch because it turns the cycle into a flow problem. According to CoinShares’ latest weekly fund-flow update, U.S. spot Bitcoin ETFs saw renewed net inflows in late August and early September, measured in billions of dollars, while SoSoValue tracked a mid-September multi-session inflow streak with a single-day print of around $260 million on September 15.
Those figures contrast with the post-halving issuance of about 452 Bitcoin per day, calculated as 3.125 Bitcoin per block times roughly 144 blocks per day. When multi-day ETF demand absorbs several thousand Bitcoin per week, the market’s ability to distribute inventory at the highs narrows, and topping processes can lengthen into a plateau rather than a single peak.
Macro conditions set the second lever.
This month, the euro touched a four-year high against the dollar as cut expectations increased, while front-end Treasury yields eased into the meeting.
A softer dollar lowers global financial conditions and often correlates with higher beta across risk assets. At the same time, domestic inflation has cooled from last year’s pace, with August headline CPI at 2.5 percent year over year and core at 3.0 percent, according to the Bureau of Labor Statistics.
The policy outcome will shape whether those tailwinds persist or fade. Throughout the rest of 2025, cuts with dovish language that emphasizes progress on inflation and downplays the need for quick reversals would support the dollar’s drift lower and extend the risk window.
Cuts that emphasizes vigilance on inflation and a limited runway for further easing would keep rates sticky and reduce the impulse. A no-cut outcome was a low-probability branch, yet it would have tightened financial conditions into quarter-end and left ETF demand to carry more of the load.
Mining economics frame how deeply price moves are transmitted to the supply side. Hashrate has hovered around 1.0 to 1.12 zettahash per second in recent weeks, with network difficulty near a record around 136 trillion, according to Hashrate Index tracking.
That backdrop keeps hashprice near 53 to 55 dollars per petahash per day, levels broadly consistent with Luxor’s spot readings this month. Because hashprice scales roughly with Bitcoin price and inversely with hashrate, bands for Q4 can be approximated by combining price paths with modest hashrate creep as new rigs energize. Fees remain a smaller component in the current lull, so price carries most of the signal into miner cash flow.
A simple baseline clarifies the inputs that feed scenario

bands through Thanksgiving, November 27.
Baseline inputValueSource or methodSpot price anchor~$116,000Market level todayImplied volatility~30–40% (near-dated)Deribit DVOL context in early SeptemberIssuance~452 BTC/day3.125 BTC subsidy × ~144 blocksHashrate~1.0–1.1 ZH/s trending upHashrate IndexHashprice~$53–$55 per PH/dayLuxor-referenced spot
With those inputs, the grid below lays out price and miner hashprice ranges into late November across policy tone and ETF flow states. These are bands, not point targets, designed to reflect how cut tone and net flows propagate into price and miner revenue under low-fee conditions and modest hashrate growth.
ETF flows \\ Fed outcomeCut, dovish toneCut, hawkish toneNo cutSustained net inflows (multi-week >$1–2B)BTC $125k–$145k, hashprice $57–$66/PH/dayBTC $110k–$125k, hashprice $48–$58/PH/dayBTC $105k–$120k, hashprice $45–$55/PH/dayFlat or net outflowsBTC $115k–$125k, hashprice $50–$57/PH/dayBTC $95k–$110k, hashprice $40–$50/PH/dayBTC $80k–$95k, hashprice $33–$45/PH/day
The placement of the cycle clock matters for how those bands are interpreted
Axios frames prior “final highs” occurring near the 1,065-day mark, then transitioning to drawdowns that were less severe in the ETF era than in earlier cycles. That adds a second read-through for investors watching the tape into early October.
My own analysis flagged Nov. 1 as a potential date for the cycle peak based on previous cycle peaks extending from the last halving by roughly 100 days.

However, if the window delivers a high and ETF demand remains strong, the outcome can be a rounded top with shallower retracements.
If the window passes without a new high and flows turn mixed, the market can migrate toward the middle cells of the grid where price oscillates under the prior peak while hashprice is constrained by gradual hashrate increases.
Policy tone will color the flow of data almost immediately. Per Business Insider’s breakdown of meeting paths, a dovish cut converts to an easier dollar backdrop and a steeper risk appetite curve, which historically pulls incremental demand into equities and crypto, while a hawkish cut narrows that curve and puts more weight on idiosyncratic flows.
A no-cut outcome would have tested the lower bands in the table since it removes the near-term easing impulse and tends to firm the dollar. The CPI profile reduces the need for restrictive surprises, according to the BLS figures, yet the chair’s emphasis on data dependence can keep rate-path uncertainty in the foreground even if a first cut arrives.
ETF flow streaks are the cleanest high-frequency metric to monitor against this policy backdrop. CoinShares’ weekly data provide size and regional composition, and SoSoValue’s daily tallies map whether the post-announcement sessions extend or fade the bid.
Translating those numbers into supply absorption is straightforward
At $115,000 to $120,000 per Bitcoin, one billion dollars of net inflow equates to roughly 8,300 to 8,700 Bitcoin. Weekly net inflows of $1.5 to $2.5 billion imply 13,000 to 21,000 Bitcoin, or roughly four to seven times weekly issuance.
Sustained ratios above one, even with moderate outflows on some days, build a structural cushion under spot that can pull realized volatility lower and compress the left tail in the upper grid cells.
Miner balance sheets turn from a trailing indicator to a stress indicator if price trades the lower bands. With difficulty near a record and electricity costs rising for some operators, the combination of price dips toward 95,000 dollars and steady hashrate would push hashprice into the low 40s per petahash per day.
That level typically reopens hedging activity and delayed capex rather than wholesale shutdowns, although company-level thresholds vary. According to Hashrate Index updates on public miner expansions, capacity additions remain in the pipeline, so hashrate creep of 3 to 7 percent into November is a reasonable working assumption for the table above.
Through Thanksgiving, the narrative anchor remains the same.
The market is weighing a first policy cut that shapes the dollar and front-end rates, ETF net demand that either absorbs or releases supply relative to a 452-Bitcoin daily issuance, and an approaching 1,065-day cycle marker that Axios argues historically aligns with a final high and subsequent drawdown.

$BTC $ETH #Write2Earn

Ripple, DBS Bank, and Franklin Templeton have unveiled a landmark collaboration that pushes tokenization further into mainstream finance. Announced on September 18, the initiative introduces tokenized collateral, stablecoin liquidity, and repo lending to institutional investors via the DBS Digital Exchange (DDEx).

RLUSD & sgBENJI Debut on DDEx

The exchange has officially listed Ripple’s US dollar stablecoin (RLUSD) alongside sgBENJI, the tokenized version of Franklin Templeton’s OnChain U.S. Dollar Short-Term Money Market Fund.

This pairing allows institutional clients to:

Trade between regulated, dollar-backed assets without exposure to volatile tokens like BTC or ETH.

Rotate into sgBENJI for 24/7 liquidity and portfolio stability.

Access new yield opportunities from tokenized funds while maintaining collateral flexibility.

Ripple President Monica Long highlighted that tokenized assets must deliver real utility and secondary market liquidity to achieve scale, calling this partnership a blueprint for financial infrastructure that blends stablecoins with tokenized securities.

Franklin Templeton Expands to XRP Ledger

In a parallel move, Franklin Templeton confirmed that sgBENJI will launch on the XRP Ledger, expanding its interoperability.

Roger Bayston, Head of Digital Assets at Franklin Templeton, noted that tokenization has the power to reshape the global financial ecosystem and unlock new avenues for securities trading.

According to RWA.xyz, sgBENJI already spans seven blockchains, including Stellar, Arbitrum, and Base, and manages over $736 million in tokenized assets. The XRP Ledger integration is expected to boost cross-chain adoption and strengthen liquidity flows.

DBS Bank: Repo Collateral Goes Tokenized

DBS will soon allow clients to use sgBENJI as collateral for:

Repurchase agreements (repos) with banks.

Third-party lending platforms for secured financing.

This means institutional investors gain deeper liquidity channels, while lenders benefit from exposure to regulated, tokenized funds.

Why This Matters

This three-way collaboration demonstrates how blockchain infrastructure is maturing beyond speculative trading:

Stablecoins (RLUSD) provide instant settlement.

Tokenized funds (sgBENJI) offer yield-bearing stability.

Exchanges (DDEx) enable regulated liquidity markets.

Together, Ripple, DBS, and Franklin Templeton are paving the way for a financial system where traditional securities and digital assets coexist seamlessly.

🔥 Key Takeaway: DBS Bank’s acceptance of tokenized collateral, Ripple’s RLUSD debut, and Franklin Templeton’s expansion to XRP Ledger mark a major leap in the institutionalization of tokenized assets—bridging Wall Street-grade products with blockchain-native liquidity.

$XRP #writetoearn

لقد وافقت هيئة الأوراق المالية والبورصات الأمريكية (SEC) على مجموعة جديدة من معايير الإدراج العامة لأسهم الثقة المعتمدة على السلع في ناسداك، Cboe، وبورصة نيويورك.

من المتوقع أن تسهل هذه الخطوة عملية الموافقة على المنتجات المتداولة في البورصة (ETPs) المرتبطة بالأصول الرقمية، وفقًا لمراسلة Fox Business إلينور تيريت.

ومع ذلك، أضافت أن معايير الإدراج العامة لا تفتح كل نوع من أنواع ETPs المشفرة لأن متطلبات العتبة لا تزال سارية، مما يعني أن ليس كل المنتجات ستؤهل على الفور.

دولوميت، بروتوكول DeFi المبني على Arbitrum، قدمت vARB، وهي رمز "ARB مدعوم بالتصويت" يسمح للمستخدمين بالمشاركة مباشرة في حوكمة Arbitrum بينما يحتفظون بعمليات ضمان ARB الخاصة بهم نشطة في DeFi.

على عكس ARB نفسها، فإن vARB غير قابلة للتحويل وغير قابلة للتداول. لا يمكن اقتراضها أو إقراضها أو بيعها. بدلاً من ذلك، تكمن قيمتها في تمكين حاملي ARB من ممارسة حقوق الحوكمة على Arbitrum—حتى عندما يكون ARB خاصتهم مقفلاً في برك السيولة أو مستخدماً كضمان.

حل قيود شائعة في DeFi

سومنيا، وهي بلوكتشين من الطبقة الأولى تم تطويرها بواسطة شركة التكنولوجيا الميتافيرس البريطانية إمبروبابل، قد تم إطلاقها مع شبكة الرئيسية الخاصة بها وقدمت رمزها الأصلي، SOMI.

تتبع الإطلاق مرحلة اختبار استمرت ستة أشهر حيث تمت معالجة الشبكة لأكثر من 10 مليارات معاملة، واستقطبت 118 مليون عنوان محفظة فريد، وجذبت أكثر من 70 شريكًا في النظام البيئي، وفقًا لبيان صحفي.

قالت مؤسسة سومنيا إن شبكة الاختبار شهدت أيضًا معالجة سومنيا لـ 1.9 مليار معاملة في يوم واحد، وهو رقم قياسي لبلوكتشين متوافق مع EVM. لم تتمكن كوين ديسك من التحقق من الادعاءات بسبب كون مستعرض كتلة شبكة الاختبار غير متصل في وقت كتابة التقرير.

ZNS Connect، بروتوكول يركز على الهوية اللامركزية والمجالات المبنية على البلوكشين، قد أعلن عن شراكة جديدة مع Somnia، المنصة من الجيل التالي لتجارب الويب 3 والميتافيرس الغامرة. معًا، يهدفون إلى usher in a new era of personalized and verifiable digital identity.

من خلال هذه الشراكة، يمكن للمستخدمين الآن سك مجالاتهم الخاصة .somnia، والتفاعل مباشرة مع الشبكة، وحتى نشر عقود ذكية بدون احتكاك. ما قد يبدو كأفعال بسيطة - سك مجال، قول “GM”، أو نشر عقد - هي في الواقع خطوات قوية نحو تشكيل كيفية عمل الهوية والتفاعل في عالم لامركزي.

GameFi.org, one of the most recognized names in Web3 gaming, has officially joined forces with Somnia, a next-generation, EVM-compatible Layer 1 blockchain. This collaboration is set to push the boundaries of blockchain gaming by combining GameFi.org’s thriving ecosystem with Somnia’s powerful, high-performance infrastructure.

The announcement, made on GameFi.org’s official X account, highlights the partnership as a major step toward shaping the future of decentralized entertainment. Somnia’s technology is designed for scale, boasting over 1 million transactions per second (TPS), making it one of the few platforms capable of supporting mass-market gaming applications without compromising speed or efficiency.

Why This Partnership Matters

At its core, this partnership is about solving one of the biggest challenges in blockchain gaming: scalability. While GameFi.org has built a strong foundation for Web3 gamers, guilds, and developers, Somnia brings the kind of technical backbone that can handle large-scale adoption. Together, they are creating a space where developers can build ambitious, feature-rich games that appeal to both crypto-natives and mainstream players.

The benefits go beyond infrastructure. Somnia’s $10 million grant program will give early-stage gaming projects direct access to funding, accelerating innovation in the space. Developers will also gain from Somnia’s low latency and resilient design, enabling them to focus on crafting immersive experiences instead of worrying about bottlenecks or technical hurdles.

Building Momentum with Strong Partnerships

Somnia has already made waves with collaborations involving LayerZero, BitGo, and Google Cloud—further proof of its credibility as a serious player in blockchain infrastructure. By partnering with GameFi.org, the blockchain solidifies its position as a hub for entertainment and gaming projects looking to build at scale.

For players, this translates into faster, smoother, and more enjoyable gaming experiences. For creators, it means access to resources, tools, and funding to bring their boldest visions to life.

The Road Ahead

Blockchain gaming has long been seen as one of the most promising gateways to mainstream Web3 adoption, and this partnership represents a major milestone on that journey. By combining GameFi.org’s community-driven ecosystem with Somnia’s technical capabilities, the two platforms are setting the stage for a new era of blockchain-powered entertainment.

As the partnership develops, the industry will be watching closely to see how this collaboration translates into tangible results—new games, stronger ecosystems, and, most importantly, better experiences for players around the world.

@Somnia Official #Somnia $SOMI