🔍Market Summery

Our detailed market analysis is being prepared and will be published here soon — stay tuned for insights and trends.

Paradigm-backed Layer 2 Blast to wind down network as costs exceed revenue

Paradigm-backed Layer 2 Blast to wind down network as costs exceed revenue

Ethereum Layer 2 Blast said it will wind down its network because operating costs exceed revenue and it sees no credible path to economic sustainability.The project now has a little over $32 million in total value locked, according to DeFiLlama, down sharply from more than $2 billion in TVL ahead of…

Drift opens exploit recovery claims with initial payouts of just over 1% of user losses

Drift opens exploit recovery claims with initial payouts of just over 1% of user losses

Decentralized exchange Velocity, formerly Drift, has opened claims for users who lost funds due to its April exploit, allowing them to collect recovery tokens tied to their losses.The platform said on Thursday that users can claim one DFX token for every USDT lost. Holders then have the option of re…

CryptoQuant says bitcoin correction could be near as traders’ unrealized profit hits 21-month high

CryptoQuant says bitcoin correction could be near as traders’ unrealized profit hits 21-month high

Bitcoin could face a near-term correction as short-term traders' onchain unrealized profit margin has reached its highest level in 21 months, according to CryptoQuant.Bitcoin's close above its 365-day moving average last week confirmed a new bull market, CryptoQuant's head of research Julio Moreno s…

Bitget starts phased withdrawal resumption following $388 million exploit

Bitget starts phased withdrawal resumption following $388 million exploit

Bitget has begun a phased resumption of exchange withdrawals after an exploit drained around $388 million from the platform on Sept. 24.The crypto exchange said in a statement shared with The Block that it has started processing BTC withdrawals on the Bitcoin network at 8 a.m. UTC on Monday as sched…

‘BTC still has room to catch up’: Bitcoin’s $80,000 breakout draws institutional demand as analysts weigh durability

‘BTC still has room to catch up’: Bitcoin’s $80,000 breakout draws institutional demand as analysts weigh durability

Bitcoin's recent breakout above $80,000 has genuine demand behind it, analysts say, but the durability of the move is still being tested.K33, Nexo and Sygnum all point to strong institutional and ETF inflows as an important driver, with K33 noting the largest daily ETP inflow since November 2024 and…

House committee moves to codify Trump’s Strategic Bitcoin Reserve

House committee moves to codify Trump’s Strategic Bitcoin Reserve

The House Financial Services Committee advanced a bill to establish a strategic bitcoin (BTC) reserve, which would codify President Donald Trump's plan to create permanent bitcoin holdings.On Wednesday, the panel voted to move forward with the American Reserve Modernization Act, which would direct t…

‘Not the end’: Sen. Gillibrand says Democrats still committed to passing Clarity Act

‘Not the end’: Sen. Gillibrand says Democrats still committed to passing Clarity Act

Seven U.S. Democratic Senators stated on Wednesday that they remain committed to passing the Digital Asset Market Clarity Act."This week was a setback, but not the end of that important work," U.S. Senators Kirsten Gillibrand (D-NY), Angela Alsobrooks (D-MD), Cory Booker (D-NJ), Catherine Cortez Mas…

Clarity Act preliminary vote falls short in Senate amid ethics fight over Trump’s crypto wealth

Clarity Act preliminary vote falls short in Senate amid ethics fight over Trump’s crypto wealth

An initial vote to try to push the Clarity Act closer to becoming law fell flat amid Democratic opposition to President Donald Trump's vast crypto wealth.On Tuesday, the U.S. Senate failed to advance the bill without the necessary 60 votes. Several Democrats who may had been on the fence in passing …

CryptoQuant says bitcoin must clear resistance at $81,700 to confirm new bull market

CryptoQuant says bitcoin must clear resistance at $81,700 to confirm new bull market

Bitcoin's outlook remains bullish, but it needs to clear resistance at $81,700 to confirm a new bull market, according to CryptoQuant.The onchain analytics firm said in a Friday report that bitcoin's 24% rally over two weeks had stalled. The price had been moving between $76,000 and $82,000 and is c…

Senate Republicans unveil revised crypto bill ahead of key Clarity Act vote next week

Senate Republicans unveil revised crypto bill ahead of key Clarity Act vote next week

Ahead of a pivotal initial vote next week, Senate Republicans released a revised version of the landmark Clarity Act cryptocurrency legislation that includes new rule language for "non-decentralized finance protocols."On Thursday, Sen. Cynthia Lummis and other fellow Republicans released a 630-page …

Hunter Biden’s LAPTOP airdrops briefly worth over $1 million each before 99% crash

Hunter Biden’s LAPTOP airdrops briefly worth over $1 million each before 99% crash

Hunter Biden's newly launched LAPTOP memecoin had a wild first hour of trading on Wednesday, briefly reaching a market capitalization of around $110 billion before crashing more than 99%.The Base-based token began trading shortly after 8 a.m. ET and quickly climbed to more than $300 per token, accor…

Pons propels Robinhood Chain fees to record $6 million in daily fees as DEX volume doubles

Pons propels Robinhood Chain fees to record $6 million in daily fees as DEX volume doubles

Robinhood Chain generated a single-day record of $6 million in fees on Friday, Sept. 4. Fees over the prior seven days totaled approximately $25 million, compared to just $1.4 million, representing a 17x increase in just one week.Meanwhile, total DEX volume for the week totalled $12.4 billion, more …