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Bitcoin climbed above $85,000 on Monday, September 21, extending its rally. Around $756 million in leveraged positions were liquidated across the cryptocurrency market over the past 24 hours. Short positions, which bet on falling prices, accounted for roughly 84% of the total.Bitcoin reached an eight-month high during the session. Market data showed the price rising 4.7% to $85,117, giving the largest cryptocurrency a strong start to the week.The liquidations accompanying the rally increased pressure on traders betting on a decline. The liquidation dashboard shown below recorded $634.7 million in short liquidations. Long liquidations totaled $121.3 million over the same period. Most Liquidations Occurred in the Past Four HoursThe data shows that liquidations were particularly concentrated in recent hours. Over the past 12 hours, $658.6 million in positions were liquidated, including $564.2 million in shorts. Short positions accounted for 85.67% of liquidations during that period.Liquidations over the past four hours reached $513.4 million. Short positions accounted for approximately $451.3 million, while longs made up $62.1 million. This means roughly 68% of the 24-hour liquidation total occurred within the latest four-hour window.The distribution points to a sharp price move over a short period. The widespread closure of bearish positions highlights the pressure leveraged traders faced during the rally.However, these time windows overlap. The one-hour, four-hour and 12-hour figures are included in the 24-hour total. Adding them together would therefore overstate the overall liquidation amount.Short Closures Can Fuel the RallyTraders who open short positions aim to profit from falling prices. When prices rise instead, the collateral needed to maintain those positions increases. If the collateral becomes insufficient, the trading platform may forcibly close the position.The buying pressure generated by these closures can accelerate price gains. Known as a “short squeeze,” this process can intensify as additional short positions reach their liquidation levels.The current dominance of short liquidations shows that bearish positions came under substantial pressure during the rally. However, liquidation data alone cannot fully explain Bitcoin’s rise. Additional data is needed to assess the contribution of spot buying and other market factors.The $756 million total also covers liquidations across the broader cryptocurrency market. The entire amount cannot be attributed to Bitcoin trades. Nor does it represent new money entering the market; it reflects the value of leveraged positions forcibly closed.Liquidations Became More Balanced Over the Past HourThe shorter time frame presents a different picture. Total liquidations reached $77.4 million over the past hour. Short and long liquidations were nearly balanced at $39.9 million and $37.5 million, respectively.These figures show that traders on both sides of the market faced liquidations during the latest hour. However, this distribution alone does not establish that the rally has ended.Bitcoin’s move above $85,000 has brought sharp price gains and widespread derivatives liquidations into focus. The clearest feature of the current data is the overwhelming share of bearish positions in the 24-hour liquidation total.
Bitcoin started the week of September 21–27 at approximately $83,600. Ether traded near $2,665 at the time of writing as markets assessed the future path of interest rates following last week’s decisions from the Federal Reserve, European Central Bank and Bank of Japan. The crypto calendar features Plasma’s approximately $167.6 million XPL unlock, Binance’s removal of USDP and Terra’s network upgrade. Flash PMI reports, speeches from Fed officials and US durable goods orders will lead the macroeconomic agenda.Fed officials will speak after the rate increaseThe Fed raised its target rate by 25 basis points to 3.75%–4.00% on September 16. The policy statement described economic activity as solid and inflation as still elevated, while all members voted in favor of the increase.Fed Vice Chair Philip Jefferson will speak about discount window modernization and the functioning of the US Treasury market on Tuesday, September 22, at 5:20 p.m. Türkiye time. Michael Barr will discuss the housing market on Wednesday, September 23, at 5:05 p.m.The Fed’s official calendar also includes the Senior Credit Officer Opinion Survey on Thursday, September 24, at 9:00 p.m. Türkiye time. The report will show how collateral, leverage and credit conditions have changed for major institutions that finance securities transactions.Markets currently assign an approximately 55% probability to another rate increase in October. Comments about inflation, oil prices and the next meeting could affect Bitcoin through movements in the dollar and Treasury yields.PCE inflation will not be released this weekSome economic calendars list US personal consumption expenditures inflation and gross domestic product data for this week. The latest schedule from the Bureau of Economic Analysis shows that the August PCE report and the third estimate of second-quarter growth will arrive on September 30.Neither PCE nor GDP data belong on the September 21–27 calendar. This week’s US releases instead center on new home sales, initial jobless claims, durable goods orders and consumer sentiment.August new home sales will arrive on Thursday, September 24, at 5:00 p.m. Türkiye time. The Census Bureau calendar schedules durable goods orders for Friday, September 25, at 3:30 p.m.The University of Michigan will publish its final September consumer sentiment reading at 5:00 p.m. on September 25. The preliminary index fell from 51.7 to 47.8, while one-year inflation expectations climbed to 4.6%.Flash PMI data will provide a view of global growthSeptember flash purchasing managers’ indexes will be released on Wednesday, September 23. The euro-area composite PMI will arrive at 11:00 a.m. Türkiye time, followed by the UK data at 11:30 a.m. and the US manufacturing and services indexes at 4:45 p.m.Readings above 50 would indicate an expansion in private-sector activity. Strong growth accompanied by rising input prices could support expectations that central banks will continue raising interest rates.Price indicators within the services reports will carry particular importance for crypto markets. The Fed continued to characterize inflation as elevated last week, making input costs and selling prices almost as significant as the headline PMI readings.Oil and the US-China meeting enter focusBrent crude started the week above $100 as conflict in the Middle East and shipping risks continued to affect the energy market. High oil prices are maintaining pressure on the currencies and inflation outlooks of energy-importing countries.The Bangladeshi government increased fuel prices by as much as 17.4% from September 21 in response to higher global oil and shipping costs. The decision provides a current example of how the energy shock is passing through to consumer prices.US President Donald Trump and Chinese President Xi Jinping are expected to meet on September 24. Comments on trade, artificial intelligence, supply chains and the Middle East could influence risk appetite and the direction of the dollar.Terra will upgrade its network todayTerra will activate a network upgrade at block height 22,942,000 on Monday, September 21. The network is expected to reach the block at approximately 6:00 p.m. Türkiye time, although the exact time may change depending on block production.Binance said it would temporarily suspend LUNA deposits and withdrawals from 5:00 p.m. Spot trading will remain available, while transfers will resume after the exchange determines that the network is stable.The exchange will also launch a USDBRLUSDT perpetual contract tracking the US dollar-Brazilian real exchange rate at 5:00 p.m. The USDT-settled product will trade around the clock and offer leverage of up to 100 times.Binance will end USDP tradingBinance will cease all spot trading in Pax Dollar on Thursday, September 24, at 6:00 a.m. Türkiye time. The exchange will cancel open orders and terminate the related trading-bot services at the same time.USDP deposits will no longer be credited to user accounts after 6:00 a.m. on September 25. Withdrawals will remain available until 6:00 a.m. on November 24.The decision does not end the Paxos-issued token or USDP trading on other exchanges. Its impact is limited to Binance’s spot market and related products that support USDP.The XPL unlock exceeds $167 millionTokenomist estimates that cliff unlocks scheduled for the next seven days have a combined value of approximately $227.17 million. Plasma’s September 25 unlock accounts for roughly $167.6 million of that total.The XPL release equals approximately 67.1% of the project’s reported market capitalization. The tokens belong to the ecosystem and growth allocation, making XPL the asset with the week’s highest dilution risk.Humanity Protocol will release approximately $18.97 million in H tokens to early contributors on the same day. The amount equals around 13.1% of its reported market capitalization.SoSoValue’s September 24 unlock has an estimated value of $6.83 million, equivalent to 6.9% of its market capitalization. STBL will release approximately $5.41 million from its adviser allocation on September 26, representing around 42.7% of its reported market capitalization.Smaller releases include approximately $2.52 million in ID, $3.83 million in SOON, $1.88 million in MET and $2.7 million in AERO.ETHTokyo continues this weekETHTokyo, which began on September 19, will continue through September 27. The event brings together Ethereum developers, security researchers, infrastructure projects and members of Japan’s Web3 community.The US Senate’s procedural vote on the CLARITY Act failed to reach the required 60-vote threshold on September 15. No new vote has been scheduled, so the proposal does not appear among this week’s upcoming events.The SEC announced a five-year exemption for tokenized stock trading on September 17. Although the decision is a completed development, it creates a new regulatory framework that could affect the tokenized securities plans of companies such as Coinbase and Robinhood.This week’s 24-event crypto calendarSeptember 21, 5:00 p.m. Türkiye time: Binance suspends Terra deposits and withdrawals.September 21, approximately 6:00 p.m.: Terra network upgrade.September 21, 5:00 p.m.: Binance launches the USDBRLUSDT perpetual contract.September 21–27: The remaining ETHTokyo program continues.September 22, approximately 3:00 a.m.: ID unlock worth around $2.52 million.September 22, 5:20 p.m.: Speech by Fed Vice Chair Philip Jefferson.September 23, 11:00 a.m.: Euro-area flash PMI data for September.September 23, 11:30 a.m.: UK flash PMI data for September.September 23, approximately 11:30 a.m.: SOON unlock worth around $3.83 million.September 23, approximately 4:00 p.m.: MET unlock worth around $1.88 million.September 23, 4:45 p.m.: US flash PMI data for September.September 23, 5:05 p.m.: Speech by Fed Governor Michael Barr.September 24, approximately 3:00 a.m.: AERO unlock worth around $2.7 million.September 24, 5:00 a.m.: USDP removed from Binance Convert.September 24, 6:00 a.m.: Binance ends USDP spot trading.September 24: SOSO unlock worth around $6.83 million.September 24, 3:30 p.m.: US initial jobless claims.September 24, 5:00 p.m.: US new home sales for August.September 24, 9:00 p.m.: Fed credit conditions survey.September 24: Trump-Xi meeting.September 25: XPL unlock worth around $167.6 million.September 25: H unlock worth around $18.97 million.September 25, 3:30 p.m. and 5:00 p.m.: US durable goods orders and final consumer sentiment.September 26: STBL unlock worth around $5.41 million.The XPL unlock represents the week’s strongest crypto-specific price risk because of its size. The broader market will focus on flash PMI data, Fed officials’ post-meeting messages, oil prices above $100 and announcements from the US-China meeting.
Completing a crypto transaction sometimes takes more preparation than the transaction itself: choosing the right network, funding a wallet for gas fees, and switching between applications. DAPPOS is combining its work on reducing this complexity with AI products. By letting users describe their desired outcome in plain language, the project aims to connect research, software creation, and Web3 transactions through the DOS token and xBubble.DAPPOS: Definition and OriginsDAPPOS focuses on reducing the technical knowledge users need to navigate Web3. Its current introduction describes a project developing accessible AI products. Its flagship product, xBubble, is presented as an AI agent designed to turn short requests into usable results.The approach addresses an everyday problem. Users may know what they want to achieve without knowing which tools to use or in what order. In crypto, that gap can lead to unfinished transactions or choosing the wrong network.For example, someone who wants to use an application on another network first checks where their assets are held. They then investigate transfer methods, transaction fees, and the assets the destination application accepts. A seemingly simple request becomes a series of separate decisions.The intent-based approach DAPPOS has worked on frames a transaction around the outcome the user wants to achieve. Unified accounts and cross-chain application interactions feature prominently in the project’s history, which dates back to 2022. Its current product direction also covers AI-assisted research and task completion.The distinction between DAPPOS and DOS matters here. DAPPOS is the name of the project and its product ecosystem; DOS is the ticker of the associated token. Growth in product usage does not automatically translate into token demand growing at the same pace.Early Development and Key MilestonesDAPPOS began development before the DOS token became available on exchanges. CoinDesk’s project profile lists 2022 as its starting year. The same source reports that the project was selected for the fifth season of the Binance Labs incubation program in November 2022.This distinction helps when assessing the project’s age. A token’s first trading date does not show when the team behind it began working. Product development, funding rounds, and token distribution can take place at different times.DAPPOS’s current official website presents it as a developer of AI products connected to Web3. Its earlier focus on transaction infrastructure therefore needs to be considered alongside its current AI focus.The expansion in product direction also changes how the project should be assessed. Transaction completion is a central measure for a project simplifying cross-chain activity, while output quality also matters for an AI product. Understanding a user’s request correctly and identifying an incorrect result become just as important as the technical connections.This change alone does not establish success or failure. What matters is the need the new products address and whether users return to them. Broad roadmap goals should be assessed separately from features that are already available.Listings and Current StatusAccording to MEXC’s own guide, DOS was listed in the exchange’s Innovation Zone on August 10, 2026. The platform announced DOS/USDT and DOS/USDC trading pairs. Also, Binance has DOS coin in its Alpha platform.The product type matters alongside the exchange’s name. Spot trading involves buying and selling the token, while a perpetual contract offers a derivative based on price movements. Alpha access, spot listings, and futures announcements refer to different services.A platform launching a DOS derivative therefore does not establish that it also offers spot trading. When assessing listing news, the trading pair, launch date, and product category should be checked together.At the time of writing, DOS coin price is around $0.21 How Does the DOS Token Work?The DAPPOS whitepaper outlines functions for DOS including access to premium services, transaction fee payments, service-provider staking, and governance. It also describes delegation to eligible participants and additional AI usage credits under certain conditions. These describe the token’s intended uses.Understanding a utility token requires looking at the service a payment provides. Access to a paid feature, for example, means the user is consuming a particular service. Its usefulness should be assessed alongside the quality and cost of the result.Staking creates a different relationship. Requiring a service provider to take on an economic commitment can encourage them to perform their duties according to the rules. The effectiveness of that design depends on the collateral requirements and the rules applied when a participant breaches their obligations.The number of token use cases alone does not establish strong demand. The number of people using a service, how payments actually work, and whether users prefer alternatives also matter. That is why promised utility should be distinguished from measurable usage.Supply, Allocation, and TokenomicsThe whitepaper states a total supply of 1 billion DOS. The allocation plan is divided into six categories. According to the document, team and investor allocations unlock linearly over 48 months after an initial 12-month lockup. It provides for 20% of the total supply to unlock at the token generation event.At the time of the check, market data showed a circulating supply of 200 million DOS, with total and maximum supply both at 1 billion DOS. The platform’s reported circulating share therefore stood at 20%.The difference between circulating and total supply matters when interpreting market capitalization. Market capitalization uses the circulating amount, while fully diluted valuation uses a broader supply figure. Treating the two measures as interchangeable can lead to a mistaken view of a token’s valuation.An unlock does not automatically mean a sale. Unlocked tokens may enter circulation, remain in holders’ wallets, or be used in specific programs. Even so, an increase in the amount of tokens available relative to existing demand is a supply change worth monitoring.The shares in the allocation table show the purposes for which tokens are reserved. Understanding whose wallets hold those tokens today requires a separate on-chain analysis. The allocation plan and current ownership distribution answer different questions.Which Network Does It Use, and How Is Security Addressed?DOS is listed as a token on Ethereum. MEXC’s project guide also states that the token is deployed on Ethereum. DAPPOS’s product goals involving different networks have a broader scope than the network used to transfer DOS.This distinction is particularly important during transfers. An application supporting multiple networks does not mean an exchange accepts deposits of the same token from every network. The network used by the sending wallet must match one supported by the receiving platform.Security assessment also involves several layers. The token contract, the application being used, wallet permissions, and other protocols involved in a transaction can each carry different risks. Security at one layer does not establish that every part of a transaction is equally secure.When reviewing a smart contract audit, the report’s date and scope matter. An audit of an older product version does not automatically cover every feature added later. Whether the findings were addressed and whether the contract being used matches the audited version should also be assessed.Clear transaction approval is another part of user security. Users should be able to see which asset will be used, how much will be used, where it will be sent, and which permissions they are granting.Why Does DAPPOS Matter?The problem DAPPOS addresses concerns friction in everyday crypto use. A transaction being technically possible does not make it easy for the user. Having to work with numerous separate tools can cause users, particularly newcomers, to abandon the process.For example, someone transferring assets to a particular application may want to see the total cost in advance. Decision-making becomes harder when transfer fees, waiting times, and the balance required for the final step appear on separate screens. Presenting that information together can make the experience easier to understand.Convenience, however, is measured by more than the number of clicks. Users also need to understand the transaction, stop an incorrect step, and see whether the result matches their expectations. A fast interface that produces unclear results can create a new problem.Transaction costs, success rates, and transparency should therefore be considered together when assessing DAPPOS’s approach. Showing what happens when a task cannot be completed matters as much as completing it. The options available after a failure form part of the actual user experience.xBubble and AI-Focused ProductsDAPPOS documentation introduces xBubble as an AI agent that can be used with few prompts. According to the description, the product aims to automate the coding, testing, and deployment of workflows tailored to specific tasks. The goal is to reduce the need for users to manage every technical step themselves.A sample task helps explain the product concept. A user might describe a simple tracking dashboard that displays data for several selected projects on a single page. Such a task involves separate elements, including choosing data sources, designing the page, and updating the information.This example illustrates the product’s approach; it does not establish that a particular request will be completed without errors in every situation. The resulting dashboard still needs to be checked to ensure it retrieves data from the right sources and handles dates correctly. A page that works visually may still contain inaccurate information.A similar distinction applies to AI-assisted crypto research. A statement citing a source does not by itself provide sufficient assurance that the source is current or has been interpreted correctly. Dates are particularly important for information such as supply figures, token unlocks, and listings.DAPPOS’s AI focus should therefore be assessed through output quality. Important measures include whether users receive consistent results when repeating a task, can make corrections when necessary, and can examine the data used. Product descriptions cannot replace independent measurement of that performance.Project Risks and Price VolatilityThe DOS price may be affected by the wider crypto market as well as project developments. Sharp Bitcoin price movements, changes in market liquidity, or interest in AI-themed tokens can influence pricing. Short-term price movements do not provide a sound basis for firm conclusions about product success.Liquidity is another factor to assess separately. The latest price shown on a screen does not mean a large order will be filled entirely at that level. The bid-ask spread and the depth of the order book affect the actual cost of a trade.Within tokenomics, demand from usage and supply growth should be monitored together. New feature announcements may attract interest, while the number of tokens entering circulation may also change. The effect of these developments on price depends on market conditions.On the product side, AI output may be incorrect, or an integration may fail to work as expected. An automatically generated transaction proposal looking reasonable does not establish that every risk has been accounted for. User approval and transaction limits therefore matter.Competitive pressure should also be considered. Users may meet the same needs through wallet applications, research tools, or other automation services. Building lasting usage depends on whether users prefer the convenience DAPPOS offers when weighing cost and reliability.DAPPOS Developers and CommunityTy Shen is identified as DAPPOS’s founder and CEO, and Isabella Yang as its co-founder. Shen is reported to have previously co-founded Alchemy Pay and served as its CTO.A team’s previous experience provides context about the areas in which it has worked. However, a role at an earlier project does not independently demonstrate the technical quality of a new product. Current development activity and released products also need to be assessed.Release notes and technical explanations can offer useful indicators. Relevant factors include responses to user-reported bugs, how regularly features are updated, and whether changes are communicated clearly.Community and GovernanceThe DAPPOS whitepaper envisages DOS holders participating in protocol decisions through proposals and voting. The governance goals described in the document should, however, be assessed separately from the voting mechanisms currently available.A token having a governance function does not mean the community makes every decision. Proposal requirements, voting weights, and the way approved decisions are implemented all affect the outcome. These rules help establish the actual scope of participation.Community size alone is also an insufficient measure. Social media followers may include product users, reward campaign participants, and people who only track the price. These groups have different relationships with the project.A more meaningful assessment examines whether product feedback informs development. Channels that allow users to report problems and receive responses strengthen the community’s role. Participation outside campaign periods can also offer insight into sustained interest.Investors, Partnerships, and the EcosystemDAPPOS’s history includes participation in the Binance Labs incubation program, Polychain Capital, OKX Ventures, Hashkey and so on. Programs of this kind help provide context for the institutional support behind a project’s development. Participation does not guarantee a token’s future price or the security of every product. Investment relationships should also be distinguished from technical partnerships. An organization providing funding does not mean the product is integrated with all of that organization’s services. Similarly, trading on an exchange does not establish that the project and exchange are developing a product together.When assessing the scope of the DAPPOS ecosystem, the focus should be on what each connection provides. Data sharing, application integrations, access to liquidity, and marketing campaigns produce different outcomes. Examining the actual feature made available to users is more informative than focusing first on the organizations named in an announcement.Frequently Asked QuestionsBelow are some frequently asked questions about DAPPOS and their answers:What is DAPPOS, and when did it launch?: DAPPOS began as a project aimed at simplifying Web3 usage and now also focuses on AI products. Its history dates back to 2022; DOS spot trading on MEXC began on August 10, 2026. The project’s origins and the token’s exchange trading date refer to different periods.What is the DOS token used for?: DOS has defined functions involving service access, transaction payments, staking, and governance. Available features and conditions should be checked against the current product version. Holding the token is not equivalent to owning shares in a company.Which network does DAPPOS use?: The DOS token is deployed on Ethereum. The networks supported by DAPPOS’s applications and transaction services are a separate matter. Before transferring tokens, users should check the deposit network supported by the receiving platform.Who founded DAPPOS?: The public project profile identifies Ty Shen as founder and CEO and Isabella Yang as co-founder. Assessing the team also requires examining current product development activity.What is the DOS token supply?: Total supply is 1 billion DOS. At the September 18, 2026 check, CoinMarketCap showed 200 million DOS in circulation. Circulating supply may change as further distributions take place.Is DAPPOS a suitable investment?: There is no single answer that applies to everyone. Product usage, token demand, supply unlocks, and liquidity should be examined together when assessing DOS. A project addressing an interesting problem does not establish that its token price will rise. DAPPOS is expanding its goal of reducing complexity in Web3 transactions through an AI-assisted approach to task completion. Assessing the project requires monitoring actual product usage, the role DOS plays in that usage, and the supply structure together. Separating future promises from currently available features supports a more balanced assessment.Follow the JR Kripto Guide series for the latest information on DAPPOS and emerging projects across the crypto ecosystem.
The cryptocurrency market extended its gains on Friday, September 18. Arbitrum (ARB), Uniswap (UNI) and Starknet (STRK) stood out with performances that outpaced Bitcoin.At the time of writing, ARB’s 24-hour gain reached 30.9%. UNI climbed 24.8%, while STRK advanced 20.4%.Bitcoin rose approximately 2% over the same period, trading at $78,065. As the largest cryptocurrency recovered, several altcoins recorded double-digit gains. ARB gains more than 30%Arbitrum’s ARB token traded at approximately $0.2133 at the time of the check. Its 24-hour trading volume reached $749.3 million, while its market capitalization stood at roughly $1.45 billion.ARB traded between $0.1617 and $0.2286 over the same period. Although its latest price remained below the top of that range, the token retained strong daily gains.The rally also lifted its weekly performance. Market data showed that ARB gained 51.4% over the past seven days, extending the recovery seen in previous sessions.Among ARB, UNI and STRK, ARB delivered the highest 24-hour return. However, its trading range also showed that substantial price fluctuations continued throughout the period.UNI trading volume exceeds $2 billionUniswap’s UNI token rose to approximately $8.62. Its 24-hour trading volume reached $2.23 billion, while its market capitalization stood at around $5.35 billion.UNI traded between $6.91 and $9.39 over the same period. At the time of writing, it remained below its highest price during that window but still recorded a gain of nearly 25%.These figures placed UNI among the day’s notable altcoins in terms of both price performance and trading activity. Trading volume measures the total value of trades; it does not, on its own, indicate net capital inflows.Starknet’s STRK token also joined the rally. Trading at approximately $0.03374, the token gained 20.4% over the previous 24 hours.STRK’s trading volume reached $75.8 million, while its market capitalization stood at $247.7 million. The token traded within a range of $0.02752 to $0.03635 during the same period.Gains spread across the broader marketAccording to CoinDesk’s September 18 market assessment, the recovery was particularly strong among decentralized finance and layer-2 tokens. The report noted that 98 of the 100 assets in the CoinDesk 100 index were trading higher on the day.The decline in the US 10-year Treasury yield below 5% was among the macroeconomic developments accompanying the recovery. Brent crude’s retreat below $103 also helped ease inflation concerns following the Federal Reserve’s interest rate increase.Altcoins outperform as Bitcoin risesWhile Bitcoin gained approximately 2%, advances exceeding 20% in ARB, UNI and STRK highlighted the stronger moves in these three tokens. Bitcoin’s 24-hour trading volume stood at roughly $29.74 billion.At the time of the check, all three altcoins traded below their respective 24-hour highs. Despite their strong gains, prices had pulled back from the highest levels reached during the period.
The US Treasury Department has imposed sanctions on Iranian cryptocurrency exchange BitBank. The department alleged that the platform transferred payments collected for passage through the Strait of Hormuz and facilitated Bitcoin transfers to Iran’s Islamic Revolutionary Guard Corps (IRGC).The decision announced on September 17 also covers BitBank’s software developer and three individuals. US authorities link the exchange to a digital asset network controlled by previously sanctioned Iranian businessman Babak Zanjani.Bitcoin connection to Hormuz paymentsThe Treasury’s Office of Foreign Assets Control (OFAC) alleges that Zanjani used BitBank to facilitate transfers of hundreds of millions of dollars worth of Bitcoin between June and July. The agency says those assets reached the Revolutionary Guards.The statement also identifies Hormuz Safe Marine Services Authority as an organization that has used BitBank since June. According to US authorities, it transferred payments collected from ships to the Iranian government through the exchange.The Hormuz connection dates back to OFAC’s July 29 decision. At the time, the agency added HormuzSafe and Persian Gulf Marine Insurance Company to its sanctions list.The Treasury alleges that the arrangement required commercial vessels to purchase mandatory maritime insurance to pass through the strait. According to the department, the coverage claimed to protect against risks such as vessel seizures, while some payments took place in digital assets.Washington describes the arrangement as a mechanism for Iran to collect revenue from maritime shipping. July’s sanctions focused on the organizations providing insurance services, while the latest decision targets the crypto infrastructure allegedly used to transfer the payments.Software developer and three individuals also targetedOFAC also sanctioned BitBank’s developer, Pishtaz Simorgh Electronic Trade Company. Hossein Ali Zaker Hossein, Mohammad Mahdi Zaker Hossein and Seyed Adel Heidari were added to the sanctions list as well.The department links these individuals to Zanjani’s corporate network. The designations rely on Executive Order 13902, which provides sanctions authority covering various sectors of Iran’s economy.Zanjani has faced US sanctions before. According to Reuters, Washington sanctioned him and digital asset companies Zedcex and Zedxion in January.In July, the US targeted nine additional firms, including companies based in Turkey and the United Arab Emirates. Reuters reports that Zanjani, who received a death sentence in Iran in 2016 for embezzlement, had his sentence commuted in 2024 and re-emerged in 2025 as a backer of government-linked economic projects.Which transactions do the sanctions affect?The decision blocks the designated individuals’ and entities’ property in the United States or under the possession or control of US persons. Unless an exemption or OFAC authorization applies, US persons are generally prohibited from conducting transactions involving that property.Entities owned 50% or more, individually or collectively, by blocked persons are also subject to blocking. The department warns that foreign financial institutions facilitating certain transactions could also face sanctions.The BitBank decision forms part of “Operation Economic Outcast,” a campaign launched on August 24. The US administration says the campaign aims to restrict Iran’s revenue sources linked to oil trading, financial intermediaries and international companies.At the campaign’s launch, the department announced plans to increase pressure on foreign actors facilitating Iran-related activities. The inclusion of BitBank’s software developer alongside the exchange shows that companies supporting crypto services also fall within the scope of this approach.
The crypto market is focused on the Fed rate decision due Wednesday, September 16. Investors expect the U.S. central bank to raise interest rates for the first time in nearly three years. The direction of Bitcoin and altcoins will also depend on what the Fed says about the months ahead.At its July meeting, the Fed kept its policy rate at 3.50%–3.75%. Nine members supported the decision, while three favored a 25-basis-point increase. Expectations of a rate hike have strengthened ahead of the September meeting.CME FedWatch data, based on futures prices, shows that markets view a 25-basis-point increase as the most likely outcome. Such a move would lift the policy rate to 3.75%–4.00%. These probabilities can change during trading, so the latest pricing should be checked before the decision.Why does the Fed rate decision matter for crypto?U.S. consumer prices rose 3.4% year over year in August, with a monthly increase of 0.4%. Data from the U.S. Bureau of Labor Statistics shows that inflation remains above the Fed’s 2% target.Higher interest rates can encourage investors to favor assets that offer yields and carry relatively lower risk. This could limit the capital flowing into Bitcoin, which does not generate interest income. Rising Treasury yields and a stronger dollar could also weigh on risk appetite across the crypto market.Still, an expected rate hike does not necessarily mean prices will fall. Markets may have already priced in much of a 25-basis-point increase. Investors would then turn their attention to whether the Fed plans further hikes.What are the scenarios for Bitcoin and altcoins?If the Fed raises rates by 25 basis points but takes a cautious approach to future moves, the initial crypto market reaction could be volatile. The widely expected hike would carry less surprise. Fed Chair Kevin Warsh’s remarks at the press conference could then set the direction.If the Fed signals further tightening to combat inflation, risk assets could come under pressure. Such a message could support Treasury yields and the dollar. Altcoins may move more sharply because they are sensitive to liquidity and investors’ willingness to take risks.Keeping rates unchanged could initially support crypto assets. However, any gains might fade if the Fed describes the decision as a temporary pause. A larger-than-expected rate hike would be a more pronounced negative surprise for the market.According to the official schedule, the decision will be announced at 9:00 p.m. Turkish time. Warsh’s press conference will begin at 9:30 p.m. The Fed will also publish updated economic projections. The projected path for interest rates could matter as much as the decision itself for Bitcoin and altcoins.At the time of writing, Bitcoin is trading around $76,000.
Standard Chartered has shared a highly bullish price forecast for Arbitrum’s native token, ARB. The bank expects ARB to reach $10 by the end of 2030.ARB was trading at approximately $0.13–$0.14 when the forecast was published. The bank’s target therefore points to potential growth of around 70 times from current levels. Standard Chartered also believes ARB could outperform Bitcoin and Ethereum during the forecast period. The bank cited Arbitrum’s blockchain infrastructure for traditional financial institutions as a key source of growth.Standard Chartered reveals its ARB targetsStandard Chartered did not limit its forecast to a single target for 2030. The bank’s year-end price projections are as follows:End of 2026: $0.50End of 2027: $1.50End of 2028: $3.50End of 2029: $6.50End of 2030: $10Even the first target represents an increase of more than 280% from ARB’s price of approximately $0.13. However, the forecasts depend on Arbitrum strengthening its position in the institutional blockchain market.Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, believes ARB is significantly undervalued. According to Kendrick, the ability to generate revenue will become increasingly important in the digital asset market.The bank expects Bitcoin to reach $500,000 over the same period. Its 2030 price target for Ethereum stands at $40,000.Robinhood Chain could increase Arbitrum’s revenueRobinhood Chain plays an important role in Standard Chartered’s bullish forecast. Robinhood’s network, which uses Arbitrum technology, launched on July 1.Under the Arbitrum Expansion Program, external chains pay Arbitrum 10% of their net protocol revenue. This allows Arbitrum to generate recurring revenue from networks that use its technology stack.According to the report, Standard Chartered estimates that fees received from Robinhood Chain could reach approximately $5 million in September. Robinhood Chain generated an average of $2.8 million in daily fee revenue during the first two weeks of September.According to the bank, Arbitrum’s total monthly revenue has risen to more than five times its level before Robinhood Chain launched. This early performance could encourage other traditional financial companies to adopt Arbitrum’s technology.Tokenization market could support ARBThe tokenization of real-world assets provides another foundation for the forecast. Standard Chartered expects the tokenized asset market to reach $4 trillion by the end of 2028.The market currently stands at approximately $340 billion. The bank also forecasts that tokenized equities could grow into a $750 billion market over the same period.Arbitrum could benefit from this expansion due to its low transaction costs and connection to Ethereum. The early success of Robinhood Chain also supports the bank’s expectations for institutional adoption.However, the report highlights several risks. Slower-than-expected tokenization and competition from other blockchains could negatively affect the ARB targets.The ARB token also does not directly capture revenue generated by the network. Therefore, increased activity on Arbitrum may not lead to a proportional increase in ARB’s price.
Cryptocurrency exchange CoinEx has decided to shut down after nine years of operation. The platform will gradually discontinue its services and cease operations entirely on December 22, 2026.CoinEx said the prolonged downturn in the cryptocurrency market contributed to the decision. Declining trading volumes and shrinking liquidity also played a role.The exchange also pointed to regulatory requirements across major markets. Rising compliance costs and operational uncertainty made it increasingly difficult to continue operating.According to CoinEx’s official announcement, the shutdown process began on September 15. New user registrations were suspended on the same date.CoinEx will gradually discontinue its servicesAs part of the first stage, CoinEx placed its futures markets into reduce-only mode. Users can no longer open new futures positions.The platform is also no longer accepting new orders for margin trading, loans, staking, or earning products. Users cannot create new automated investment or grid trading strategies either.All non-spot services will end on September 22. Futures trading will cease entirely on that date. Users should close their open positions before the deadline.The platform will forcibly settle any remaining futures positions at the index price. It will also cancel all unfilled orders.CoinEx will stop accepting on-chain deposits on the same date. CET deposits will remain available as an exception until September 29.Earning and staking products will be automatically closed on September 22. CoinEx will transfer the principal and accrued yields to users’ spot accounts.Spot trading will end on September 29CoinEx will discontinue all spot trading services on September 29. The platform will automatically cancel all open spot orders.Users who want to withdraw their assets in their original form must complete the process by 05:00 a.m. Türkiye time on September 29. After that deadline, CoinEx will begin processing all non-USDT assets remaining in user accounts.Assets with sufficient liquidity on external markets will be sold and converted into USDT. The net proceeds will then be credited to users’ spot accounts.Assets without sufficient liquidity will be gradually delisted. CoinEx said it would no longer assume responsibility for the custody or redemption of these assets.The exchange will apply a separate process to its native token, CET. CoinEx will repurchase CET holdings at a fixed price of 0.005 USDT per token.Users can sell CET through the CET/USDT trading pair until September 29. Any CET remaining in user accounts after that date will be automatically repurchased at the same price.The withdrawal deadline is December 22CoinEx’s withdrawal services will remain available until 05:00 a.m. Türkiye time on December 22, 2026. The platform urged users to avoid leaving their withdrawals until the final day.Any USDT assets that remain unwithdrawn after the deadline will be transferred to an independent custody system. CoinEx will charge a monthly custody fee equal to 5% of the original asset balance.Users will have until August 22, 2028, to submit claims for assets transferred into custody. Any assets left unclaimed after that date will be handled in accordance with applicable laws and procedures.CoinEx said user assets are backed by reserves exceeding 100%. It also emphasized that withdrawals will remain available throughout the shutdown process.CoinEx Wallet and CoinEx Vault will remain unaffected by the decision. The two services operate independently from the exchange platform and will continue functioning.
The United Arab Emirates is preparing to use the Avalanche blockchain in its national digital identity infrastructure. The integration will involve UAE PASS, which serves more than 12 million people.Avalanche announced the development through its official social media account on September 14. The network’s technology will support the UAE’s identity verification and digital document signing infrastructure. However, the technical scope of the integration has not yet been disclosed. It also remains unclear which UAE PASS processes will operate on Avalanche.Avalanche will be integrated into UAE PASSAvalanche said in its post that the UAE would use its technology within the country’s national digital identity infrastructure. The announcement noted that UAE PASS serves citizens, residents and visitors.UAE PASS allows users to verify their identities digitally. The platform also provides access to electronic document signing and government services. The system is available across digital services offered by government agencies and private companies. Users can therefore verify their identities across different platforms without creating separate accounts.The Avalanche integration will bring blockchain technology into a national public infrastructure. However, the announcement did not provide a detailed description of Avalanche’s role within UAE PASS.It remains unclear whether Avalanche will directly store identity information. The network could instead be used solely for document verification, transaction records or specific infrastructure components.The integration will cover more than 12 million usersUAE PASS serves more than 12 million users. This figure includes UAE citizens, foreign residents and visitors.The scale of the project could make the integration one of Avalanche’s most significant institutional use cases. The network has previously focused on finance, tokenization and enterprise blockchain projects.Its use in digital identity will connect Avalanche technology directly with public services. The integration could also expand the use of blockchain beyond cryptocurrency transactions.The UAE has increased its investments in digital public services and blockchain projects in recent years. The country aims to consolidate identity verification processes under a single digital platform.UAE PASS operates as a core component of this strategy. The Avalanche integration could create a new technological layer for verifying identity and document-related transactions within the system.The role of the AVAX token remains unclearThe announcement did not explain what role Avalanche’s native token, AVAX, would play in the integration. It also remains unclear whether transactions will take place on the public Avalanche network or a private blockchain.This distinction is important when assessing the integration’s potential effect on demand for AVAX. If the UAE uses a private Avalanche-based network, the system’s direct connection to the token could remain limited.Transactions conducted on the public network could support AVAX usage through network fees and validation mechanisms. However, the available information does not provide enough technical detail to reach that conclusion.UAE authorities have not yet released a detailed announcement about the integration timeline. The launch date, expected transaction capacity and data privacy model remain unknown.
Bitcoin started the week of September 14–20 at around $77,500. The Federal Reserve’s interest rate decision, a crypto vote in the US Senate and oil prices above $100 could increase market volatility. The crypto calendar also features a Pi Network upgrade, delistings by South Korean exchanges and a TRUMP token unlock worth approximately $57 million. Chainflip is preparing to restart its network following a 736,000 USDT exploit over the weekend.Fed interest rate decision and projections are comingThe Federal Open Market Committee’s two-day meeting will begin on Tuesday, September 15. The Fed will announce its interest rate decision and updated economic projections on Wednesday, September 16, at 9:00 p.m. Turkey time. The chair’s press conference will begin at 9:30 p.m.The Fed’s official calendar confirms the announcement times for the current policy rate of 3.50%–3.75%. Futures markets assign a probability of more than 85% to a 25-basis-point increase. Goldman Sachs and JPMorgan have also revised their expectations toward a rate hike.US consumer inflation, released last week, reached 0.4% monthly and 3.4% annually. Inflationary pressure, combined with strong employment data, strengthened expectations that the Fed could resume monetary tightening.Markets will also monitor the dot plot and economic forecasts for 2026–2028. Officials’ projections for further rate increases this year could influence Bitcoin through movements in the dollar and Treasury yields.US retail sales data for August will arrive on September 16 at 3:30 p.m. Turkey time. Import price data, scheduled for the same time, will offer further information about how energy costs are feeding into domestic inflation.BoE and BOJ decisions fall in the same weekThe Bank of England will publish its interest rate decision on Thursday, September 17, at 2:00 p.m. Turkey time. All 65 economists surveyed by Reuters expect the BoE to keep its policy rate unchanged at 3.75%.The United Kingdom will announce August inflation data one day before the decision. According to the Office for National Statistics calendar, the figures will arrive on September 16 at 9:00 a.m. Turkey time. Annual inflation stood at 2.9% in July.The UK labor market report will be released on Tuesday, September 15, at 9:00 a.m. It will include new data on unemployment, wage growth, job vacancies and payroll employment.The Bank of Japan will meet on September 17–18. A Reuters poll indicates strong expectations that the central bank will raise its current 1% policy rate by 25 basis points.The decision is expected on the morning of Friday, September 18. BOJ Governor Kazuo Ueda’s press conference will begin at 9:30 a.m. Turkey time.The meeting carries additional significance for crypto markets. A rate hike could strengthen the yen and trigger the unwinding of leveraged positions financed through the Japanese currency.CLARITY Act heads for a critical Senate voteThe US Senate is preparing to hold a procedural vote on the CLARITY Act on September 15. The legislation aims to define the division of responsibilities within the digital asset market. It needs support from 60 senators before debate can formally begin.The bill would reorganize regulatory authority over crypto assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also establish federal rules for exchanges, brokers, custodians and token issuers.The Senate Banking Committee approved the bill in May by a vote of 15–9. According to Reuters, objections involving stablecoin interest payments and crypto companies’ access to banking services could make the 60-vote threshold difficult to reach.Passing the procedural vote would not amount to final approval. If the motion succeeds, the Senate would still need to consider amendments and vote on the full legislative text.The House Ways and Means Committee could also discuss the taxation of staking and mining rewards on September 16. Wash-sale rules for digital assets may form another part of the discussion.However, the committee has not published a confirmed time on its official calendar. Therefore, the potential hearing is not included in this week’s verified schedule.Oil prices become a liquidity risk againBrent crude started the week near $107 per barrel, while West Texas Intermediate traded around $102. Attacks on energy infrastructure in Saudi Arabia and risks to regional shipments continue to support prices.Oil prices remaining at these levels could fuel global inflation through higher fuel and transportation costs. The Fed, BoE and BOJ will all announce decisions this week, increasing the potential impact of energy-driven inflation on digital assets.Attacks on Russian refineries are also reducing diesel production and intensifying pressure on energy markets. US diesel prices rising above $6 per gallon create another risk for corporate costs and consumer inflation.Upbit, Bithumb and Bitget plan delistingsUpbit and Bithumb will end trading support for Storj, JasmyCoin and ThunderCore on Monday, September 14, at 9:00 a.m. Turkey time. The exchanges will cancel open orders for STORJ, JASMY and TT, while withdrawals will remain available until October 14.Bitget’s first change will affect Classic Account users on September 17. The exchange will stop allowing new positions in NEARUSD, AVAXUSD, ADAUSD, LINKUSD, DOGEUSD, SOLUSD, XRPUSD, ETHUSD and BTCUSD coin-margined perpetual contracts after 7:00 a.m.Trading in these contracts will end completely at 10:00 a.m. Bitget’s official announcement indicates that contracts under Unified Accounts will remain unaffected.The exchange will also delist the CAMP/USDT, RHEA/USDT, ORBS/USDT and TURBO/USDT spot pairs on Friday, September 18, at 1:00 p.m. Withdrawals will remain available until December 18 at 1:00 p.m.No major spot listing or high-profile token launch has been confirmed for this week. Therefore, delisting decisions and supply developments involving existing tokens will carry greater weight.Pi Network targets Protocol 27 upgradePi Network has set September 15 as the target date for upgrading its mainnet to Protocol 27. According to the project’s announcement, the update will introduce more flexible and secure authentication features for smart contracts.The team has not announced an exact activation time. The target date also depends on network readiness. Exchanges could temporarily suspend PI deposits and withdrawals during the upgrade.Ethereum developers will hold an All Core Developers Consensus call on September 17 at 5:00 p.m. Turkey time. The meeting will cover consensus-layer development and preparations for the Glamsterdam upgrade. However, the call itself does not represent a mainnet upgrade.Chainflip restart expected after exploitChainflip started the week with operations suspended following an exploit involving its USDT integration on TRON. The attacker abused a vulnerability in transaction memo processing to withdraw 736,442 USDT through six unauthorized payments.The project said its other vaults were unaffected and promised to compensate affected users. Incomplete user transactions worth approximately 115,654 USDT remain in the vault until the network restarts.Chainflip initially said the restart would not happen before Monday. However, it has not provided an exact time.According to the incident report, the project could release a new software version, compensation details and a technical review this week.No separate binding, high-impact DAO vote with a confirmed deadline appears on the calendar. Chainflip’s operational decisions and the CLARITY Act process represent the week’s main governance and regulatory developments.TRUMP and ZRO unlocks carry significant valueOfficial Trump will conduct the week’s largest token unlock by dollar value. A total of 28.7 million TRUMP will enter circulation on September 18. Based on the morning spot price, the tokens are worth approximately $57.1 million.The unlock represents about 2.9% of the total token supply. Its share of the circulating market capitalization is higher, increasing the risk of short-term dilution.LayerZero will unlock 25.71 million ZRO on September 20. The tokens are worth approximately $26.9 million at the current price and represent around 4.2% of the circulating supply.Bedrock will release 40.63 million BR on the same day. The unlock is worth approximately $15 million and equals nearly 18.7% of the circulating supply. This makes it one of the week’s most significant events in proportional terms.Arbitrum’s unlock of 92.65 million ARB will occur on September 16 at 4:00 p.m. Turkey time. The tokens currently have a combined value of around $12.7 million.Additional supply entering the market will include approximately $8.4 million in YZY, $5.4 million in KAITO, $3.6 million in STRK and $2.5 million in SEI. LISTA will also release tokens worth around $2.6 million on September 20.CoinShares results and two conferences on watchCoinShares will publish its financial results for the six months ended June 30 on September 14. Management’s conference call will begin at 3:30 p.m. Turkey time.Digital asset prices, fund flows and assets under management will be among the report’s main areas of interest.Bitcoin miner Bitdeer will also attend the H.C. Wainwright Global Investment Conference on September 14. Its presentation could provide updates on mining capacity, energy infrastructure and investments in artificial intelligence data centers.The European Blockchain Convention will take place in Barcelona on September 16–17. Its program focuses on institutional crypto adoption, tokenization, stablecoins, custody services and European regulation.ETHTokyo Week will begin on Saturday, September 19, and continue until September 27. The program will bring Ethereum developers, security researchers and Web3 projects together in Tokyo.This week’s 30-event crypto calendarSeptember 14: CoinShares publishes its first-half 2026 results.September 14: Bitdeer attends the H.C. Wainwright conference.September 14, 9:00 a.m.: Upbit and Bithumb end STORJ, JASMY and TT trading.September 14–15: Remaining sessions of the ETHTaipei program.September 15, 3:00 a.m.: Approximately $3.6 million STRK token unlock.September 15, 6:00 a.m.: Approximately $8.4 million YZY token unlock.September 15, 9:00 a.m.: UK labor market report.September 15, 3:00 p.m.: Approximately $2.5 million SEI token unlock.September 15: Target date for the Pi Network Protocol 27 mainnet upgrade.September 15: US Senate procedural vote on the CLARITY Act.September 16, 9:00 a.m.: UK consumer and producer inflation data for August.September 16, 3:30 p.m.: US retail sales for August.September 16, 3:30 p.m.: US import and export prices for August.September 16, 4:00 p.m.: Approximately $12.7 million ARB token unlock.September 16–17: European Blockchain Convention.September 16, 9:00 p.m.: Fed interest rate decision and economic projections.September 16, 9:30 p.m.: Fed chair’s press conference.September 17, 12:00 p.m.: Final eurozone inflation data for August.September 17, 3:30 p.m.: US weekly jobless claims.September 17, 3:30 p.m.: US housing starts and building permits for August.September 17, 2:00 p.m.: Bank of England interest rate decision.September 17, 5:00 p.m.: Ethereum All Core Developers Consensus call.September 17, 10:00 a.m.: Bitget closes nine coin-margined perpetual contracts.Morning of September 18: Bank of Japan interest rate decision, followed by a press conference at 9:30 a.m.September 18, 1:00 p.m.: Bitget delists CAMP, RHEA, ORBS and TURBO spot pairs.September 18: Approximately $57.1 million TRUMP token unlock.September 18, 4:15 p.m.: US industrial production and capacity utilization for August.September 19: ETHTokyo Week begins.September 20, 3:00 a.m.: Approximately $15 million BR token unlock.September 20: Approximately $26.9 million ZRO token unlock.The market’s direction may depend less on whether the Fed raises rates and more on the statement’s guidance for future meetings. Oil prices above $100, BOJ-driven movements in the yen and the CLARITY Act vote could also widen trading ranges across Bitcoin and altcoins.
Standard Chartered has issued a bullish forecast for SKY, the native token of decentralized finance protocol Sky. The bank expects its price to reach $0.325 by 2028.The target implies an increase of around 460% from SKY’s current price of approximately $0.058. Standard Chartered linked this potential to the growing adoption of the USDS stablecoin.According to Geoff Kendrick, Standard Chartered’s global head of digital assets research, Sky could benefit from the expansion of onchain lending. Staking rewards could also increase the value distributed to token holders.The bank expects SKY to deliver a performance similar to Ethereum through 2028. Under this scenario, the token could outperform Bitcoin over the same period.Standard Chartered sets $0.325 target for SKYGeoff Kendrick compared Sky’s business model to that of a central bank. The protocol issues the USDS stablecoin and determines its borrowing conditions.Sky also generates interest income from borrowers. The protocol can distribute part of this revenue to SKY holders through its staking mechanism.Kendrick expects staking rewards to provide the largest contribution to SKY’s potential gains. Token buybacks will likely play a smaller role.Sky previously operated under the MakerDAO name. As part of its rebranding, the protocol began prioritizing USDS over DAI. It also started converting the MKR token into SKY.Standard Chartered believes wider USDS adoption could support the protocol’s revenue. Growing demand for onchain lending among traditional financial institutions could accelerate this expansion.How could USDS adoption affect the SKY price?Sky ranks among the largest stablecoin issuers behind Tether and Circle. The protocol also holds a strong position in the yield-bearing stablecoin market.According to DeFiLlama data, the total value locked in the sUSDS pool stands at approximately $4.5 billion. The pool currently offers an annual yield of around 3.6%.sUSDS allows users to earn returns by depositing their USDS holdings into the protocol. Further growth in this product could increase Sky’s revenue and staking rewards.The bank expects the global stablecoin market to reach $2 trillion by the end of 2028. However, the future share of yield-bearing stablecoins within this market remains uncertain.SKY could track Ethereum and outperform BitcoinAccording to Standard Chartered’s forecast, SKY could appreciate alongside the broader cryptocurrency market. The bank expects its performance to roughly track Ethereum.Standard Chartered previously set an $18,000 price target for Ethereum by 2028. Its Bitcoin target for the same period stands at $300,000.The SKY price rose approximately 2% from its daily low following the forecast. However, the token remains down around 14% over the past week. Trading volume increased by 10% over the last 24 hours. Open interest in SKY futures also approached $30 million.Standard Chartered’s forecast depends on several long-term assumptions. Demand for USDS, the development of onchain lending and regulatory conditions will determine whether SKY can reach the projected price.
Crypto asset manager Bitwise has decided to close its spot Dogecoin ETF, BWOW. The fund will be liquidated after operating in the US market for nearly 10 months.BWOW’s final day of trading on the New York Stock Exchange is expected to be October 14. Investors will be able to sell their shares on the secondary market until the end of that trading session.The fund’s liquidation process will be completed on October 22. Investors who retain their shares until then will receive a cash payment.Weak investor demand for BWOW appears to be behind the decision. The fund generated approximately $3 million in daily trading volume when it launched in November 2025. However, it failed to approach that level again.Bitwise Dogecoin ETF trading will end on October 14According to an announcement from Bitwise, BWOW will trade for the final time on Wednesday, October 14. The fund’s shares will no longer be available for trading on the NYSE after that date.Under the liquidation plan, the value of the fund’s remaining assets will be calculated on October 21. Shareholders who retain their positions will receive cash payments corresponding to the net asset value of their shares on October 22.Investors will not need to take any action to receive the payment. However, the potential tax consequences of the liquidation may vary depending on each investor’s circumstances.Bitwise said it was optimizing its product lineup in response to changing investor needs. The company did not directly cite low trading volume in its announcement about the fund’s closure.BWOW volume declined after its first weekBWOW recorded approximately $3 million in daily trading volume during its launch week in November 2025. Initial interest quickly faded, and the fund failed to generate similar volume in the following months.Dogecoin ETFs have also delivered limited performance in terms of investor demand. According to SoSoValue data, these funds recorded approximately $318,000 in net inflows last month. The inflows reversed the modest outflows registered in July.The total trading volume of spot Dogecoin ETFs listed in the US remained at around $300 million. DOGE funds consequently fell considerably behind several altcoin ETFs.Hyperliquid ETFs generated approximately $2.1 billion in trading volume. Zcash funds reached $1.5 billion, while Chainlink funds recorded around $680 million.Dogecoin drops out of the top 10 cryptocurrenciesThe first Dogecoin ETF in the US launched in September 2025. Expectations of strong investor interest emerged before the launch of the spot funds. However, trading volume and fund flow data showed that this demand failed to materialize.Dogecoin was trading at approximately $0.084 at the time of writing. The cryptocurrency had a market capitalization of around $13 billion. DOGE dropped out of the top 10 cryptocurrencies by market capitalization amid the rise of assets such as Hyperliquid and Zcash.
Cryptocurrency exchanges Binance, Upbit and Bithumb have announced new delisting decisions. Support for Pax Dollar (USDP) and Ravencoin (RVN) will end as part of the changes.Binance will remove all USDP spot trading pairs on September 24. South Korean exchanges Upbit and Bithumb will halt RVN trading on October 12.As a result, RVN will lose support on two of South Korea’s largest cryptocurrency exchanges on the same day. The exchanges warned users about potential sharp price movements as the delisting dates approach.Binance will halt USDP tradingFollowing its regular review process, Binance decided to remove Pax Dollar from its platform. USDP spot trading will end on September 24 at 03:00 UTC.Any open spot orders will be automatically canceled after trading ends. The exchange will also gradually remove USDP support from its other services.Binance Margin will delist USDP on September 11 at 06:00 UTC. Simple Earn support will end on September 17.Positions remaining in Simple Earn will be automatically closed. The assets will then be transferred to users’ spot accounts.USDP deposits made after September 25 at 03:00 UTC will not be credited. Users will be able to withdraw their assets until November 24 at 03:00 UTC.Binance may convert any remaining USDP balances into other stablecoins after November 25. However, the exchange said that such a conversion is not guaranteed.The delisting does not mean USDP has lost its dollar backing. Issued by Paxos, the stablecoin aims to maintain a 1:1 value against the US dollar.Upbit and Bithumb will delist RVNUpbit and Bithumb announced simultaneous delisting decisions for Ravencoin. Both exchanges will halt RVN trading on October 12 at 06:00 UTC.According to Bithumb’s announcement, the decision followed a security incident involving the Ravencoin network. The exchange assessed the measures taken by the project team, including compensation for the damage.The review concluded that RVN no longer met the requirements for continued trading support. Both exchanges had previously designated Ravencoin as an asset subject to an investment warning.Any open RVN orders will be automatically canceled when trading ends. Support for trading through the exchanges’ APIs will also stop at the same time.Bithumb will end RVN withdrawal support on November 11 at 06:00 UTC. Users should transfer their assets to another platform or a personal wallet before the deadline.The joint decision by Upbit and Bithumb could put pressure on RVN liquidity. The South Korean market accounts for a significant share of global trading activity in many altcoins.Binance’s USDP decision will also reduce the stablecoin’s exchange accessibility. The development could further concentrate stablecoin trading volume around larger alternatives such as USDT and USDC.
Hunter Biden-linked meme coin LAPTOP experienced extreme volatility during its first trading hours on Base. The token delivered million-dollar gains to some investors while leaving others with heavy losses.LAPTOP climbed above $200 shortly after trading began. However, rapid selling pressure soon pushed the price below $15.One investor who bought near the peak lost approximately $197,000. Meanwhile, another trader made more than $1 million within minutes.The token’s fully diluted valuation exceeded $300 billion at its peak. However, low liquidity meant this figure did not accurately reflect the market’s real depth.LAPTOP investment generated $1 million within minutesBlockchain analytics platform Lookonchain shared the transactions of the profitable trader. The investor spent 100 ETH to purchase LAPTOP.At the time, the 100 ETH was worth approximately $249,800. The investor used this amount to buy 9,124 LAPTOP tokens.The trader then sold 8,480 tokens as the price climbed. The sale generated 472 ETH, worth approximately $1.18 million.The investor also retained 644 LAPTOP tokens in the wallet. These remaining tokens were worth approximately $110,000 when Lookonchain published its findings.Consequently, the trader’s realized and unrealized profit exceeded $1 million. However, the value of the remaining tokens may change rapidly amid continued volatility.Investor who bought LAPTOP near the peak lost 98%Another investor who followed the rally suffered a significant loss. According to Lookonchain, the trader had previously withdrawn $250,000 from Binance. The investor later spent approximately $200,000 to purchase 919 LAPTOP tokens. The average purchase price stood at $218 per token.However, LAPTOP plunged almost immediately after the purchase. The position’s value fell from approximately $200,000 to around $3,000.As a result, the investor lost more than 98% within minutes. The loss reached approximately $197,000 in monetary terms.The two transactions highlighted the risks associated with low-liquidity meme coin markets. The same token created a fortune for one investor while nearly wiping out another’s capital.LAPTOP valuation collapsed from $300 billionLAPTOP’s volatility extended beyond individual transactions. Lookonchain, citing GMGN data, highlighted the collapse in the token’s fully diluted valuation.The fully diluted valuation exceeded $300 billion during the first 40 minutes. However, the figure subsequently plunged to $4.3 billion.Meanwhile, total trading volume stood at only around $6.8 million. Therefore, the $300 billion valuation lacked strong and deep market liquidity.For meme coins, the latest trading price is multiplied by the total token supply. Even a few transactions within a thin market can produce extremely high valuations.Therefore, LAPTOP’s peak did not mean investors could sell their tokens at the same price. Rapid selling can push both the price and apparent valuation sharply lower.What is Hunter Biden’s LAPTOP token?LAPTOP is a meme coin project founded by Hunter Biden, the son of former US President Joe Biden. The token references the laptop controversy that dominated American political debate for years.The project operates as an ERC-20 token on the Base network. According to market data, the total supply stands at 1 billion LAPTOP.The project released 35% of the total supply during the token generation event. The remaining tokens are subject to lock-up and vesting periods.The project allocated 20% of the supply to community distributions. Some wallets that suffered losses from the TRUMP meme coin were also expected to qualify.Meanwhile, the founders received an allocation equal to 30% of the total supply. These tokens remain subject to lock-up and gradual vesting conditions.LAPTOP provides no revenue rights or financial returns. Its price largely depends on market attention, liquidity and speculative demand.
U.S. Bank, one of the largest commercial banks in the United States, has reached a major milestone in its stablecoin initiative. The bank completed its first live cross-border payment using USBDC, its proprietary U.S. dollar-backed stablecoin.The transaction took place between U.S. Bank entities in North America and Europe. The bank used the Stellar blockchain to transfer USBDC.The pilot demonstrated the bank’s ability to use its stablecoin in a live payment transaction. However, USBDC is not yet available to customers and has not been launched publicly.U.S. Bank completes live payment with USBDCAccording to an announcement from U.S. Bank, the pilot tested several stages of the bank’s digital asset infrastructure. These included minting, transferring and subsequently redeeming USBDC.The bank also tested control features such as freezing and clawing back tokens. These functions could help bring traditional banking compliance and risk management processes onto the blockchain.USBDC was developed as a private stablecoin pegged to the U.S. dollar. U.S. Bank did not provide detailed information about the token’s reserves or total supply.During the live transaction, USBDC moved between U.S. Bank entities in North America and Europe. The pilot therefore tested the use of blockchain technology for cross-border corporate payments.USBDC operates on the Stellar networkU.S. Bank selected the Stellar network for the stablecoin transaction. Stellar is among the blockchains designed for cross-border transfers and tokenized asset transactions.The bank first announced in November 2025 that it was testing custom stablecoin issuance on Stellar. U.S. Bank launched the project in cooperation with the Stellar Development Foundation and consulting firm PwC.The latest pilot shows that the project has progressed from a controlled test environment to a live transaction. U.S. Bank also validated its internally developed Digital Asset Platform during the process.The platform connects blockchain networks to the bank’s existing financial and operational systems. It also integrates compliance, risk management and internal control processes into digital asset transactions.How could U.S. Bank use its stablecoin?U.S. Bank is evaluating several institutional use cases for USBDC. Cross-border treasury operations and global cash management are among its main areas of interest.The bank will also explore using the stablecoin for liquidity management and collateral transfers. Blockchain-based transactions can operate outside the working hours of traditional financial systems.This structure could help multinational companies move cash more quickly between different markets. Stablecoins may also reduce the number of intermediaries involved in payment and settlement processes.U.S. Bank Chairman and CEO Gunjan Kedia said the live pilot demonstrated the bank’s ability to accelerate global cash management. Kedia added that the project supports U.S. Bank’s efforts to strengthen its money movement capabilities.No launch date announced for USBDCU.S. Bank has not disclosed when USBDC could become available to customers. The bank also provided no timetable for a broader commercial launch.The development therefore represents an advanced live pilot rather than a public market launch. It also remains unclear whether USBDC will eventually trade on cryptocurrency exchanges.U.S. Bank currently appears focused on using USBDC for institutional payment processes rather than offering it to retail users. Its first potential applications could include treasury management, liquidity transfers and collateral movement.The development comes as traditional financial institutions show growing interest in the stablecoin market. A group of 21 financial institutions, including Bank of America, Citi, Goldman Sachs and UBS, is also preparing a shared U.S. dollar stablecoin.The consortium plans to launch its stablecoin in the first half of 2027. U.S. Bank’s live USBDC transaction shows that major banks have already started testing their own blockchain-based payment infrastructure.
