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Newdex is committed to leveraging the composability of DeFi to aggregate the depth of DEX across multiple chains.
Analyst: Variational's $1.5B FDV valuation is overly optimistic, conservative scenario could put it at just $167M
Odaily News: Blockworks analyst Shaunda Devens posted on X that Polymarket's current FDV valuation of approximately $1.5 billion for Variational is somewhat overly optimistic. This pricing directly applies Hyperliquid and Lighter-level valuation-to-revenue multiples to a platform that still relies on points subsidies. By comparison, the median first-day "FDV / annualized revenue" ratio for recently launched Perp DEX tokens is only 6.3x (Variational is currently around 57x), and within the first month after TGE, trading volume typically drops sharply by a median of 54%.Shaunda added that if conservative assumptions based on historical precedents are adopted (using the median first-day "FDV/annualized revenue" ratio of 6.3x), Variational's fair valuation would be only $167 million, corresponding to a points price of $4.8–$5.4. Even using the highest recent ratio precedent (Lighter's approximately 21.1x), its valuation would still only be about $558 million, corresponding to a points price of $16–$18.However, Shaunda also explained: "To be clear, given that current market risk appetite is clearly in a Risk-on state, we do not believe Variational's valuation at TGE will fall to the extremely conservative range mentioned above. These historical multiples are listed to illustrate that current pre-market OTC pricing may be overly optimistic."
Since Uniswap launched its fee switch, its market share has increased by nearly 10%
DeFi analyst Jordi in Cryptoland posted on X stating that historical data shows Uniswap's activation of the Fee Switch did not weaken its competitiveness—its market share not only held steady but even increased. Before the fee switch was turned on, Uniswap accounted for 21% of total DEX trading volume; immediately after the switch was flipped, its share remained essentially flat; now, with the onboarding of the Robinhood channel, its share has risen to 31%.Today, Uniswap's value capture capability is also stronger. Protocol monthly revenue started from zero and has now stabilized at around $7.2 million. Compared to its multi-billion-dollar valuation, this figure is not particularly impressive (the P/E ratio remains above 40x), but with market share increasing by 10 percentage points while monthly revenue jumped from zero to $7.2 million, this is absolutely a massive milestone.
The RWA market on perpetual DEXs has surpassed 1,000, with US stock-like assets accounting for approximately 75%.
According to CryptoRank data, the number of real-world assets (RWA) markets offered by decentralized exchanges providing perpetual contracts has reached 1,000, marking the further expansion of on-chain derivatives from crypto-native assets to traditional financial assets. Publicly traded stocks remain dominant, accounting for approximately 75% of all RWA markets, indicating that tokenized stocks are becoming a key entry point for traditional financial assets to access perpetual contract trading.
Standard Chartered: RWA Tokenization Could Reach $4 Trillion, LINK May Rise to $200 by End of 2030
Odaily News: Standard Chartered Bank's Head of Global Digital Assets Research, Geoff Kendrick, stated that as the tokenization of Real World Assets (RWA) accelerates, the price of Chainlink (LINK) tokens could rise to $200 by the end of 2030, representing an increase of over 25 times from its current level of approximately $8.In his latest report, Kendrick predicts that the scale of tokenized RWA will reach $4 trillion by the end of 2028. As more traditional assets are brought on-chain, the demand for secure and reliable off-chain data is expected to increase significantly, which could further boost Chainlink's fee revenue and drive up LINK's valuation.The report also projects that by the end of 2030, the scale of tokenized assets and crypto-native assets deployed in decentralized finance (DeFi) will grow approximately 37-fold to reach $2.7 trillion. Kendrick believes these assets require trusted data, cross-network interoperability, privacy-preserving compliance mechanisms, and integration with the existing financial system—infrastructure that Chainlink currently has the capability to provide.Demand for RWA tokenization has continued to grow recently. Data shows that trading volume of tokenized RWAs on decentralized exchanges (DEXs) hit an all-time high of $14.1 billion in July, up 19.5% month-over-month, driven primarily by public market assets such as tokenized stocks.Currently, Chainlink remains one of the largest decentralized oracle service providers in the crypto industry, with a Total Value Secured (TVS) of approximately $34.4 billion—significantly higher than second-ranked Chronicle's $7.36 billion.However, Kendrick also noted that the prediction of LINK reaching $200 still faces risks, including institutional tokenization projects progressing slower than expected, intensified competition from specialized oracle service providers, and potential technical issues. (Cointelegraph)
Zapper will fully shut down on August 3rd, with its website, mobile app, and API services going offline
Seb Audet, CEO of DeFi portfolio tracker Zapper, announced that after nearly seven years of operation, the company has decided to fully shut down. All functions, including the website, mobile app, and API services, will officially go offline on August 3rd. Founded in 2019, Zapper was a mainstream portfolio tracking tool in the DeFi space, with features encompassing liquidity pool monitoring, yield farming tracking, DEX aggregation, and NFT support. At its peak, the project had 2 million monthly active users and processed over $13 billion in transaction volume. Zapper previously raised a $15 million Series A funding round led by Framework Ventures, with participation from investors including Mark Cuban. Seb Audet stated that after evaluating various options, the company believes an orderly shutdown is the best course of action at this time.
AI Economy Infrastructure Astarter Announces Strategic Support from Vega Ventures, UZ Capital, and Other Institutions
: According to official sources, Astarter, an autonomous AI Economy infrastructure on the BNB Chain ecosystem, has announced strategic support from institutions including Vega Ventures, UZ Capital, Go2Mars, and BitBT Ventures, further strengthening its AI ecosystem layout. Astarter had previously received lead investment from EMURGO, along with strategic support from other institutions such as MH Ventures, Avstar Capital, 316VC, CRT Labs, and Megala Ventures.It is reported that Astarter aims to build a full-stack infrastructure on the BNB Chain for AI agents, providing on-chain AI agents with dedicated computing power, runtime execution, on-chain settlement, and identity capabilities. Its products encompass the AI computing power node ABox, a decentralized exchange (DEX), a Launchpad, and the CORE agent layer, with the native token being AST. The Astarter mainnet and TGE are planned for launch in the third quarter of 2026. This strategic partnership is expected to further advance Astarter's development in computing power networks, products, and ecosystem.
Lighter plans to apply for a CFTC derivatives broker license in November, LIT token surges over 15% in a single day.
According to Crypto Briefing, the native token LIT of perpetual futures decentralized exchange Lighter has risen by over 15%, trading at around $3.90. Previously, Lighter announced plans to submit a derivatives license application to the U.S. Commodity Futures Trading Commission (CFTC) in November 2026. Founder Vladimir Novakovski stated that the team has been communicating with regulators for about a year, with the goal of becoming the first on-chain perpetual futures DEX to secure CFTC regulatory approval. Upon approval, Lighter is poised to provide U.S. institutions with a compliant on-chain trading channel and lay the groundwork for establishing a U.S. operational entity.
South Korea's Deputy Prime Minister Responds to Reconsideration of Virtual Asset Taxation in 2027: Prudent Policy Evaluation and Extensive Consultation
Odaily News: South Korea's Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il stated that regarding the virtual asset taxation policy planned for implementation in 2027, various opinions raised by the National Assembly, as well as those from experts, industry participants, and relevant stakeholders, will be extensively collected. South Korean lawmaker Kim Sang-hoon questioned that months before the implementation of virtual asset taxation, the relevant infrastructure remains incomplete, including insufficient capabilities for tracking and verifying transaction records on overseas exchanges, DEX, DeFi, and other platforms.Regarding the estimated tax revenue from virtual asset taxation, Lee Hyung-il stated that there are indeed "parts that are difficult to accurately grasp," and since taxation requires obtaining tax filing data first, further tax revenue estimates can only be made after the relevant filing system is launched next year, with prudent evaluation of related policies. (chosun)
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
Astroport：Neutron 上发生的攻击事件可能已经导致 Astroport 合约的管理员权限被盗
Cosmos 生态 DEX Astroport 发文表示，Neutron 上发生的攻击事件可能已经导致 Astroport 合约的管理员权限被盗，Neutron 已暂停链运行进行调查。Astroport 建议用户从所有 Astroport 资金池中撤回流动性。
NES holdings inflated to $50 million, Cosmos EVM exploit attacker actually profited about $60,000
According to Odaily, an investigation into the security vulnerability exploit of the Cosmos EVM module reveals that the primary attacker (0x9AE7) purchased $250,000 worth of NES and bridged it to Nesa Chain, exploiting a balance vulnerability to inflate holdings to 200 times their original size, then bridged approximately $50 million worth of NES back to Ethereum. The attacker's initial funding for the wallet originated from Monero. Through multiple wallets, the attacker exchanged NES for ETH on DEXs and deposited the proceeds into centralized exchanges. Due to rapid liquidity withdrawal, most exchanges suffered extreme slippage, and the attacker ultimately sold for only $315,000, netting a profit of approximately $60,000 after deducting costs.
Analyst: Kraken May Become One of the First Centralized Exchanges to Test Hyperliquid's HIP-3 Compliant Deployment
Odaily News, Blockworks analyst Shaunda Devens stated on the X platform that Kraken may be testing Hyperliquid's HIP-3 (Builder-Deployed Perpetuals) new compliant deployment feature, potentially becoming one of the first centralized exchanges to explore this mechanism. BlockworksData shows that a deployer named "Kraken HIP-3 test DEX" has enabled permission management functionality (Star gating) on the Hyperliquid testnet and went live for testing on August 19. Currently, this test DEX has completed whitelist settings for 10 wallets, tested 3 of the 5 compliance control features, and registered a "Kraken Exchange Validator."Shaunda Devens noted that Hyperliquid has been continuously adding testnet features to support regulatory-compliant HIP-3 deployments, including whitelist management, canceling user orders, closing positions via reduce-only orders, and moving collateral. These capabilities are similar to the risk control mechanisms required by traditional financial institutions' compliant trading platforms.Although this is still in the testing phase, and any user could deploy a test DEX with a similar name, making it impossible to confirm it definitively belongs to Kraken, combined with Hyperliquid's recent expansion of xStocks functionality and Kraken's parent company Payward's involvement in related business initiatives, analysts believe Kraken may be testing HyperCore's new infrastructure targeting institutional and compliant markets.HIP-3 is a third-party deployed perpetual contract market framework introduced by Hyperliquid, allowing eligible developers to create independent perpetual trading markets on HyperCore's order book infrastructure. It is considered a key upgrade direction for Hyperliquid to expand into traditional assets and institutional trading scenarios. If large compliant exchanges like Kraken enter the HIP-3 ecosystem, it could further drive the integration of on-chain derivatives markets with traditional financial trading systems.
ZachXBT: Axis Robotics insiders dumped token AXIS, dropping 40% in 24 hours
According to on-chain detective ZachXBT, insiders at Axis Robotics (AXIS) withdrew over 76 million AXIS tokens from a multisig wallet, valued at over $12 million. They subsequently dumped them via a decentralized exchange (DEX) and transferred part of the tokens to Bitget, causing AXIS to drop by approximately 40% over the past 24 hours.
Analyst: UNI has pulled back over 30% from its peak; slowing exchange inflows may signal bottoming out.
Crypto analyst Darkfost stated on the X platform that Uniswap (UNI) gained approximately 370% from its June low this year. Its total value locked (TVL) surpassed $4 billion in September, marking an intra-year high, while DEX trading volume also peaked at $93.6 billion. However, since peaking at $10.9, the token has pulled back over 30%. Driven by rising exchange inflows, UNI is currently experiencing a distribution phase. In late September, the Z-score for UNI inflows exceeded 4 on multiple occasions, with daily inflow amounts surpassing $40 million. Although current inflows remain relatively active, momentum appears to be weakening. Should inflows continue to decline, UNI could gradually form a bottom. (Note: The Z-score, also known as the standard score, is a statistical measure indicating how many standard deviations a data point deviates from the mean.)
A whale sold 410.14 BTC and bought 14,341 ETH
According to Lookonchain monitoring, a whale sold 410.14 BTC worth $34.16 million on Hyperliquid, and then bought 14,341 ETH worth $36.14 million on a DEX.
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
Jumper Announces JUMP Token Sale Allocation Plan, Approximately 55% Allocated to Community Wallets
Odaily reports: Multi-chain DEX Jumper has announced the JUMP token sale allocation plan. The sale received approximately $48.614 million in subscription commitments from 9,690 participants, exceeding the original $2 million target by 24 times, with a final accepted amount of $3 million.In the final allocation, $1.64 million, approximately 55% of the total sale, was allocated to community wallets, with weighting primarily determined by Jumper Loyalty Pass (JLP) tier and ranking, giving higher priority to long-term, deeply engaged users.The second-largest allocation category is strategic contributors, including angel investors, developers, traders, and content creators; an additional 5% was allocated to Republic participants. The waitlist category covers the top 500 participants, with rankings determined by a combination of Legion Score and referrals, with greater emphasis on Legion Score.Existing Jumper users can improve their priority through waitlist ranking, but different weightings do not stack—only the highest qualifying tier applies.
Liquidity Collapses After Attack, Solana Tokenized Silver Project Dominion Announces Shutdown
Odaily News: Solana tokenized silver project Dominion has announced its shutdown. The team stated that a September security incident led to a large amount of SILV being exploited and sold off, followed by a liquidity collapse, loss of operating capital, and damage to market structure. The capital required for rebuilding now exceeds the project's remaining resources. Dominion has allocated most of its remaining liquid funds to a refund plan, allowing eligible pre-attack SILV holders to exit at $63 per token. SILV was originally designed as a Solana token backed 1:1 by physical silver, with each token corresponding to 1 troy ounce of silver. On September 11, attackers gained control of its 3/5 multisig keys and dumped approximately 46,900 SILV into a DEX with thin liquidity. The notional value before the attack was approximately $3 million, but only about $238,000 was ultimately cashed out.
Caixin: Binance Hack Incident May Present Opportunities for DEXs, "Taking Over" Will Drive Short-Term Surge in Trading Volume and TVL
the Binance hack incident may present opportunities for decentralized exchanges (DEXs). Each time a major sudden security breach or trust crisis occurs at a large CEX, DEXs and the entire DeFi sector experience a significant inflow of capital and development opportunities, and this time is no exception. The advantage of DEXs is that their security is guaranteed by computer science and cryptography, making them immune to social engineering attacks that could lead to trojan implantation or system compromise. DEX on-chain hard rules are enforced automatically, such as time locks and automatic circuit breakers. Even if a hacker obtains keys, they must still comply with the rules set by the smart contracts.This security incident has once again sounded the alarm of "Not your keys, not your coins." A large number of users, concerned about the security of centralized custody, will withdraw assets to personal cold wallets or on-chain non-custodial wallets. Once assets flow back on-chain, the trading, liquidity mining, and wealth management needs of these idle funds will be directly absorbed by leading DEXs such as Uniswap and Jupiter, driving a short-term surge in DEX trading volume and total value locked (TVL). (Caixin)
Analysis: Arbitrage Window Emerges On-Chain During Binance Hack, Single Address Profits Approximately $3.47 Million in Two Hours
Odaily Report: During the Binance attack, an obvious arbitrage opportunity emerged on-chain. According to a community user's review, the attacker, in order to avoid Tether freezing, swapped a large amount of USDT for ETH through DEXs, causing the ETH price on Uniswap to briefly rise to $2,560–$2,750, with some individual trades exceeding $3,000, while Aave's ETH price obtained through the Chainlink oracle remained at $2,250–$2,290. A price gap of 15% to 30% appeared between on-chain and oracle prices, lasting nearly an hour.Arbitrageurs exploited this price gap by depositing USDC/USDT as collateral into Aave, borrowing ETH at the oracle price, then selling it at high prices on DEXs, and buying back ETH to repay the loans once the spread narrowed. According to the user's statistics, within 6 hours after the incident, a total of 61 addresses borrowed ETH on Aave mainnet (excluding the hacker's address). Among them, the most profitable address sold 12,289 ETH at an average price of approximately $2,580, then bought back 12,314 ETH at an average price of approximately $2,297, earning about $3.47 million. The top ten arbitrage addresses collectively profited approximately $6.36 million.The user stated that the arbitrageurs exploited the price disconnection between centralized exchanges and DEXs, and that the Aave contract itself had no vulnerability. As DEX prices fell back and Aave froze the mainnet V3 market, the arbitrage window gradually closed. The above profits are based on transaction-by-transaction on-chain statistics and have not yet deducted Gas fees.
Ripple freezes around $200 million in RLUSD, hackers switch to DEXs
According to Decrypt, Binance co-CEO He Yi stated that Ripple has frozen approximately $200 million in RLUSD; suspected hackers are converting freezeable stablecoins into ETH via Uniswap and Aave, while Kamino has suspended SOL/BTC market lending.
Liquidity Collapses After Attack, Solana Tokenized Silver Project Dominion Announces Shutdown
Odaily News: Solana tokenized silver project Dominion has announced its shutdown. The team stated that a September security incident led to a large amount of SILV being exploited and sold off, followed by a liquidity collapse, loss of operating capital, and damage to market structure. The capital required for rebuilding now exceeds the project's remaining resources. Dominion has allocated most of its remaining liquid funds to a refund plan, allowing eligible pre-attack SILV holders to exit at $63 per token. SILV was originally designed as a Solana token backed 1:1 by physical silver, with each token corresponding to 1 troy ounce of silver. On September 11, attackers gained control of its 3/5 multisig keys and dumped approximately 46,900 SILV into a DEX with thin liquidity. The notional value before the attack was approximately $3 million, but only about $238,000 was ultimately cashed out.
Astroport：Neutron 上发生的攻击事件可能已经导致 Astroport 合约的管理员权限被盗
Cosmos 生态 DEX Astroport 发文表示，Neutron 上发生的攻击事件可能已经导致 Astroport 合约的管理员权限被盗，Neutron 已暂停链运行进行调查。Astroport 建议用户从所有 Astroport 资金池中撤回流动性。
ZKsync Announces EraVM Security Upgrade, Phasing Out Legacy Execution Environment Over the Next 6 Months
According to the official ZKsync X account (@zksync), ZKsync has announced a security upgrade for its EraVM chain. Core measures include introducing an instant upgrade framework, extending the proving delay from 3 hours to 24 hours, and deploying a second prover, EraBender, to defend against AI-driven vulnerability attacks. Over the next six months, all Boojum/EraVM chains will gradually phase out the legacy execution environment, with each chain formulating and publishing its own transition schedule. Users who hold funds directly in EOAs do not need to take any action at this time. Users who hold funds through smart contracts such as multisigs, smart accounts, DEXs, and lending protocols must take action as required once the transition plans for their respective chains are finalized. The ZKsync Atlas chain remains unaffected by this upgrade.
Analysis: Arbitrage Window Emerges On-Chain During Binance Hack, Single Address Profits Approximately $3.47 Million in Two Hours
Odaily Report: During the Binance attack, an obvious arbitrage opportunity emerged on-chain. According to a community user's review, the attacker, in order to avoid Tether freezing, swapped a large amount of USDT for ETH through DEXs, causing the ETH price on Uniswap to briefly rise to $2,560–$2,750, with some individual trades exceeding $3,000, while Aave's ETH price obtained through the Chainlink oracle remained at $2,250–$2,290. A price gap of 15% to 30% appeared between on-chain and oracle prices, lasting nearly an hour.Arbitrageurs exploited this price gap by depositing USDC/USDT as collateral into Aave, borrowing ETH at the oracle price, then selling it at high prices on DEXs, and buying back ETH to repay the loans once the spread narrowed. According to the user's statistics, within 6 hours after the incident, a total of 61 addresses borrowed ETH on Aave mainnet (excluding the hacker's address). Among them, the most profitable address sold 12,289 ETH at an average price of approximately $2,580, then bought back 12,314 ETH at an average price of approximately $2,297, earning about $3.47 million. The top ten arbitrage addresses collectively profited approximately $6.36 million.The user stated that the arbitrageurs exploited the price disconnection between centralized exchanges and DEXs, and that the Aave contract itself had no vulnerability. As DEX prices fell back and Aave froze the mainnet V3 market, the arbitrage window gradually closed. The above profits are based on transaction-by-transaction on-chain statistics and have not yet deducted Gas fees.
Flap Launches Agent ID Token Issuance Feature, Initially Supporting Binance Agent ID
Flap announced on X that it has officially launched the Agent ID token issuance feature, initially supporting Binance Agent ID.According to the official introduction, only wallets holding a qualifying Agent ID can buy and sell tokens on Flap's official joint curve, with a holding cap of 2% per wallet, including developer wallets. Project teams can customize buy/sell taxes and tax distribution, and use Flap Vault to design the token fee mechanism; after tokens migrate to a DEX, all users can participate in trading.
External DEX liquidity integrated into v4 routing as Uniswap launches Aggregator Hooks
Odaily Reports: Uniswap Labs has launched Aggregator Hooks, integrating external decentralized exchange quotes into its v4 routing system on Ethereum mainnet, Base, and Robinhood Chain within its web app and API. At launch, seven external sources are integrated; Uniswap claims this covers over 90% of DEX activity across supported networks, though it does not guarantee optimal execution for every swap. The routing engine can compare quotes block by block and settle swaps involving both Uniswap and external venues within a single transaction, without requiring additional token approvals for tapping external liquidity. Swaps routed through Aggregator Hooks can generate protocol fees that support UNI burning, and developers can integrate new routes via the Uniswap API; the actual impact on spreads and trading volume still needs to be verified through live trading.
ARK Invest Q3 DeFi Report: Tokenized Equity Trading Heats Up, Perpetual DEX Open Interest Up 76%
ARK Invest's Q3 2026 DeFi report shows tokenized equities became the main driver of the rebound in on-chain trading activity during the quarter. Spot DEX trading volume for tokenized equities reached approximately $50 billion, about 9x the previous quarter, with its share of total spot DEX trading volume rising from about 1% to about 9%. Overall DEX spot trading volume grew approximately 13% quarter-over-quarter to $571 billion, marking the first increase in nearly four quarters.Robinhood Chain achieved approximately $65 billion in DEX trading volume and $51 million in network revenue in its first quarter live, with network revenue approaching BNB Chain's level over the same period. ARK Invest expects recent gas mechanism adjustments to bring the chain's revenue down from current levels. Total stablecoin supply fell approximately 3% quarter-over-quarter to $309 billion, but adjusted transaction volume grew approximately 16% quarter-over-quarter to $781 billion, while average monthly active addresses increased approximately 39% to 73 million. Perpetual DEX open interest grew approximately 76% quarter-over-quarter to $24 billion, while quarterly trading volume fell approximately 16% to $1.4 trillion; of that, Hyperliquid accounted for approximately $13 billion in open interest, or about 53%.
After FABLES launched, its market cap has fallen about 59.51% from its peak; Fables opens points claiming and PROLOGUE redemption
Odaily reports: Robinhood Chain DEX protocol Fables has announced the launch of the FABLES token, with the FABLES/USDG trading pool open for trading, and points claiming and PROLOGUE redemption also opened simultaneously. After FABLES launched, its market cap reached a peak of $18.67 million; it currently stands at $7.56 million, down about 59.51% from its post-launch high. PROLOGUE currently has a market cap of $1.38 million, down 57.23% over the past 24 hours. Fables previously stated that every 40 PROLOGUE can be redeemed for at least 1 FABLES.
Over $260M in Coinbase Tokenized Stocks Deposited into Base DeFi, Up About 18x Since Start of Year
Odaily Report: Roughly half of the market value of the tokenized stocks issued by Coinbase has been deployed into DeFi protocols on the Base network, involving fractional shares of major companies such as Apple and Nvidia, and is open to eligible non-U.S. users on the Base platform. As of the time of reporting, approximately $262.4 million of such assets had been deployed in DeFi protocols, an increase of about 18x from $14.66 million at the start of 2026. These assets can be traded on decentralized exchanges and used as collateral for lending. Coinbase previously disclosed that DEX trading volume of tokenized U.S. stocks on Base reached $1.5 billion over the past 30 days, up 313% from the prior 30 days.
Related news
Caixin: Binance Hack Incident May Present Opportunities for DEXs, "Taking Over" Will Drive Short-Term Surge in Trading Volume and TVL
the Binance hack incident may present opportunities for decentralized exchanges (DEXs). Each time a major sudden security breach or trust crisis occurs at a large CEX, DEXs and the entire DeFi sector experience a significant inflow of capital and development opportunities, and this time is no exception. The advantage of DEXs is that their security is guaranteed by computer science and cryptography, making them immune to social engineering attacks that could lead to trojan implantation or system compromise. DEX on-chain hard rules are enforced automatically, such as time locks and automatic circuit breakers. Even if a hacker obtains keys, they must still comply with the rules set by the smart contracts.This security incident has once again sounded the alarm of "Not your keys, not your coins." A large number of users, concerned about the security of centralized custody, will withdraw assets to personal cold wallets or on-chain non-custodial wallets. Once assets flow back on-chain, the trading, liquidity mining, and wealth management needs of these idle funds will be directly absorbed by leading DEXs such as Uniswap and Jupiter, driving a short-term surge in DEX trading volume and total value locked (TVL). (Caixin)
Analysis: Arbitrage Window Emerges On-Chain During Binance Hack, Single Address Profits Approximately $3.47 Million in Two Hours
Odaily Report: During the Binance attack, an obvious arbitrage opportunity emerged on-chain. According to a community user's review, the attacker, in order to avoid Tether freezing, swapped a large amount of USDT for ETH through DEXs, causing the ETH price on Uniswap to briefly rise to $2,560–$2,750, with some individual trades exceeding $3,000, while Aave's ETH price obtained through the Chainlink oracle remained at $2,250–$2,290. A price gap of 15% to 30% appeared between on-chain and oracle prices, lasting nearly an hour.Arbitrageurs exploited this price gap by depositing USDC/USDT as collateral into Aave, borrowing ETH at the oracle price, then selling it at high prices on DEXs, and buying back ETH to repay the loans once the spread narrowed. According to the user's statistics, within 6 hours after the incident, a total of 61 addresses borrowed ETH on Aave mainnet (excluding the hacker's address). Among them, the most profitable address sold 12,289 ETH at an average price of approximately $2,580, then bought back 12,314 ETH at an average price of approximately $2,297, earning about $3.47 million. The top ten arbitrage addresses collectively profited approximately $6.36 million.The user stated that the arbitrageurs exploited the price disconnection between centralized exchanges and DEXs, and that the Aave contract itself had no vulnerability. As DEX prices fell back and Aave froze the mainnet V3 market, the arbitrage window gradually closed. The above profits are based on transaction-by-transaction on-chain statistics and have not yet deducted Gas fees.
Ripple freezes around $200 million in RLUSD, hackers switch to DEXs
According to Decrypt, Binance co-CEO He Yi stated that Ripple has frozen approximately $200 million in RLUSD; suspected hackers are converting freezeable stablecoins into ETH via Uniswap and Aave, while Kamino has suspended SOL/BTC market lending.
ZachXBT: Axis Robotics insiders dumped token AXIS, dropping 40% in 24 hours
According to on-chain detective ZachXBT, insiders at Axis Robotics (AXIS) withdrew over 76 million AXIS tokens from a multisig wallet, valued at over $12 million. They subsequently dumped them via a decentralized exchange (DEX) and transferred part of the tokens to Bitget, causing AXIS to drop by approximately 40% over the past 24 hours.
Flap Launches Agent ID Token Issuance Feature, Initially Supporting Binance Agent ID
Flap announced on X that it has officially launched the Agent ID token issuance feature, initially supporting Binance Agent ID.According to the official introduction, only wallets holding a qualifying Agent ID can buy and sell tokens on Flap's official joint curve, with a holding cap of 2% per wallet, including developer wallets. Project teams can customize buy/sell taxes and tax distribution, and use Flap Vault to design the token fee mechanism; after tokens migrate to a DEX, all users can participate in trading.
A trader made a profit of approximately $963,000 by going long on Q on Aster DEX.
According to Lookonchain, Q rose 262% today. Trader 0xF1fE secured a profit of approximately $963,000 on Aster DEX, with gains primarily derived from long positions in Q.