Marinade Q3 Report: SOL Staking Rises 21.2% to 7.94 Million, Revenue Nears $1 Million
Marinade released its 2026 third-quarter report. According to Foresight News, the Solana staking protocol had 7.94 million SOL staked as of September 30, up 21.2% from the previous quarter, with growth mainly from its Native non-custodial staking product and institutional service Select. Native staking rose 47.3% to about 3.77 million SOL, Select increased 38.7% to about 1.68 million SOL, and mSOL fell 6.8% to about 2.27 million SOL.
Revenue was about $1 million, up 25.9% quarter over quarter, primarily due to a 38.1% rise in settlement revenue from validator bonds. Marinade’s staking auction market (SAM) delivered yields above the Solana Staking Index (SSI) in 48 of 51 epochs during the quarter. Its average yield before Marinade fees was 5.93%, compared with 5.67% for the index.
Under MIP-22, which took effect in July, Marinade allocated 10% of auction fees to buy back MNDE on the open market. It repurchased 4.2 million MNDE for 906.6 SOL during the quarter, and the first distribution opened on October 1. The report also said an attacker submitted two malicious proposals on September 25 by exploiting a vulnerability in the DAO voting process. One proposal sought to transfer DAO treasury assets. The council rejected both proposals within about six hours, and the vulnerability was fixed that evening; no funds were transferred.
Altcoin News | Pepe Jumps 14% to Lead an Altcoin Rebound as Ether Options Show the Strongest Put Demand Since Early October
Altcoins rebounded on Friday after Thursday’s tech-led sell-off. Pepe jumped 14% to lead the CoinDesk 100, and CoinDesk’s memecoin gauge climbed 2.9% since midnight UTC. The CoinDesk 80 altcoin index added 0.7% and ether rose 0.9% to around $2,400. CoinMarketCap’s Altcoin Season indicator rose to 58/100 from 54 on Monday.Pepe Leads the Memecoin RallyPepe’s 14% gain was its biggest daily advance in a month. That extends the Ethereum-based memecoin’s rise to 23% for the week and 16% for the month, a run with no clear catalyst. Its 24-hour trading volume reached about $353 million, up 10% from the same time a day earlier. Floki, bonk and shiba inu rose between 3.3% and 4.9% but remain down as much as 16% on the month.Layer-1 and DeFi Tokens BouncePolkadot and cosmos each rose more than 5%, taking their weekly gains above 6%; polkadot is still down 2.5% in October, while cosmos is up 3.6%. DeFi tokens recovered after leading Thursday’s decline, with uniswap up 3.5% to around $7.25 and ethena up 2.0% to around 20 cents. The CD100’s weakest monthly performers also rose, with monad up 4.3% and doublezero up 2.5%, though they remain down 31% and 49% over the month.Futures Traders Rebuild PositionsFutures trading volume fell 19% and liquidations fell 23% over 24 hours, while open interest rose 1%, a sign traders are opening new positions again. Funding rates turned positive in BNB and SUI, meaning longs are now paying shorts to hold their positions. Bitcoin funding rose to 0.0067% from 0.0041%.Not every token is drawing new money. Open interest in ZEC fell 8% on a 1.5% price drop, its second day of heavy exits. SOL, XRP and DOGE also saw positions closed beyond what their price moves explain.Ether Options Turn DefensiveEther’s one-week 25-delta put-call skew is near 13%, meaning puts cost significantly more than calls, and it has climbed since early October. The most-traded ether options were puts, led by the Oct. 26 $2,200 put with about 9,000 contracts. Bitcoin has moved the other way: its skew fell to about 4% from a mid-month peak near 14%, and five of its six most-active options were calls above the market price.Traders are also watching the Fed’s Oct. 27–28 meeting, with Brent crude near $113 keeping inflation concerns alive.
Changpeng Zhao (CZ), founder of Binance, joins ARK Invest CEO Cathie Wood and Lorenzo Valente to discuss why Bitcoin’s current cycle may play out differently from previous market downturns.
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Voting for The Blockchain 100 is officially open. Back the creators whose insights sharpened your thinking and whose content got you through the ups and downs of the market.
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🗳 Voting: Oct 19, 09:00 – Oct 28, 15:59 (UTC) 🏆 Winners announced: Oct 29, 09:00 (UTC)