#hype Hyperliquid revenue hits $1.31B as HYPE burns rise – But there’s ONE risk
Hyperliquid’s [$HYPE ] trading volume continues to drive growth in its $HYPE burn mechanism, linking network usage directly to supply reduction. Weekly protocol revenue reached $13.48 million, while gross fees stood at $15.11 million.
Part of that revenue was used to remove 156.58K $HYPE worth around $12.42 million. The overall trend indicates that there are increasing levels of larger revenue increases occurring over time. As such, cumulative revenue has now reached $1.31 billion. In addition to that 48.70 million $HYPE , or approximately 4.87% of $HYPE ’s total supply, has been removed.
The two metrics create an inverse relationship and show how users’ desire to utilize Hyperliquid’s trading tools relates to the reduction of available $HYPE .
$USDC liquidity supports growth The liquidity picture shows why Hyperliquid can sustain the trading activity behind its fee engine. DeFi TVL has climbed to $1.31 billion, adding 2.68% in 24 hours, while stablecoin liquidity remains much larger at $6.83 billion.
Although that pool fell 2.41% over seven days, USD Coin [$USDC] still accounts for 98.31%, keeping trading liquidity concentrated. Traders are putting that capital to work, with $8.31 billion in daily perpetual volume and $339.25 million on DEXs. $USDC holdings now stand at approximately $6.72 billion, slightly below the $6.71 billion held in Solana accounts. This marked a notable shift in the stablecoin concentration. More importantly, that capital is not simply sitting idle.
The pool generates roughly $200 million in annual yield. In turn, this creates another potential source for hype buyback. Meanwhile, Hyperliquid records $8.31 billion in perpetual volume, showing how deeply $USDC supports market activity. #Write2Earn $HYPE
#xrp XRPL’s new lending tool could lock up your XRP from minutes to decades
XRP Ledger's (XRPL) newest server release defines a future lending market in which depositors could commit assets to a vault for a fixed term and wait until a set redemption date to withdraw. For $XRP holders, the design introduces a possible liquidity lock that can last from minutes to years.
The $XRP Ledger Foundation released xrpld 3.4.0 on Sept. 16 with LendingProtocolV1_1 code for closed-ended vaults and cash-basis accounting.
The first feature fixes the period during which deposited capital can fund loans, and the second recognizes interest when a borrower pays it.
Availability still depends on the amendment process and the rest of XRPL's lending stack. A live dashboard snapshot fetched Sept. 17 did not surface LendingProtocolV1_1 in the responding node's feature feed or show a V1.1 activation countdown.
The same snapshot placed the base LendingProtocol amendment at 13 of 35 trusted-validator votes and SingleAssetVault at 16 of 35, below the displayed threshold of 28.
Single-asset vaults can use $XRP , an issued trust-line token, or a Multi-Purpose Token. Any claim that the system will create lasting xrp demand therefore depends on later choices by applications, borrowers and depositors.
A fixed calendar determines when depositors can leave A closed-ended vault moves through subscription, investment, and redemption. Its SubscriptionDate and RedemptionDate are set when the vault is created and stay fixed, according to the closed-ended-vault implementation.
During subscription, depositors can add assets and redeem their shares. The investment phase starts at the subscription boundary, blocks new deposits and withdrawals, and allows the vault's capital to fund loans.
Redemption begins at the second boundary, when depositors can again withdraw their share of the proceeds. #Write2Earn $XRP
#shiba⚡ Shiba Inu Rebounds as 202 Billion SHIB Netflow Points to Renewed Bullish Momentum
Netflow across exchange platforms recorded a balance of -202,237,600,000 $SHIB tokens as of September 17, 2026. The token’s price surged over 7% in the last 24 hours, stabilizing around $0.000005103 per unit. Token withdrawals to external wallets outpaced deposits intended for sale on centralized platforms such as Binance. Over the last 24 hours, the trajectory of Shiba Inu experienced a 180-degree shift following the confirmation of a negative netflow exceeding 202 billion tokens across cryptocurrency exchanges.
On-chain data from CryptoQuant reveals that the centralized exchange netflow balance stood at exactly -202,237,600,000 $SHIB during trading on Thursday, September 17. This drop represents an approximate 5% contraction in the metric compared to the previous reading.
In terms of custodial dynamics, this figure indicates that the volume of assets transferred to private wallets significantly surpassed deposits sent for immediate liquidation. An industry source pointed out that this behavior suggests buying pressure has regained operational control following several days of volatility.
The on-chain movement exerted direct upward pressure on the crypto asset’s price. During the analyzed session, the price gained 7.1% to reach $0.000005103, rebounding from early-week lows.
This recovery stands in contrast to the landscape observed just five days earlier. On September 12, 2026, CryptoQuant data tracked a positive netflow of 241.877 billion shib routed into trading platforms, triggering an immediate 0.45% correction due to selling pressure.#Write2Earn $SHIB
Near Protocol($NEAR )は、near.comで業界初の「Confidential by Default(デフォルトで機密)」パーペチュアル取引をローンチした後、DeFi分野で注目を集めています。この機能は、すべてのパーペチュアルポジションとその資産タイプ、サイズ、エントリー時刻、取引方向を完全に秘匿します。
Sol is making significant strides in the DeFi sector, with its TVL in tokenized stocks reaching 87.4 million, as noted by CryptoTwitter commentator @tokenterminal. This marks a substantial increase from previous levels and indicates a burgeoning interest in tokenized assets within Solana’s ecosystem. As Solana continues to gain traction, its growing influence in the DeFi landscape could reshape investment strategies in emerging markets The Story So Far The surge in Solana’s TVL for tokenized stocks reflects a broader trend in DeFi, where innovative financial products are attracting fresh capital. As of now, Solana accounts for approximately 35.2% of the total TVL in tokenized stocks, signaling its critical role in this segment. This growth is particularly noteworthy as the total value locked across all tokenized stocks in DeFi has skyrocketed by over 1,960% in the past year, reaching 247.8 million. The dominance of chains like Solana, Robinhood, and BNB Chain, which collectively hold 89.5% of this market, highlights the competitive landscape in decentralized finance Sol is a blockchain platform designed for decentralized applications, facilitating fast and low-cost transactions. Its jurisdiction within the DeFi ecosystem is significant, as its infrastructure supports a variety of tokenized assets, making it a key player in the evolving financial landscape. The ongoing growth in Solana’s stablecoin supply further cements its position as a critical player in emerging markets Key Levels to Watch Traders should keep a close eye on Solana’s developments in the DeFi space, especially as it continues to attract significant capital into tokenized stocks. With its TVL rising, analysts may look for potential resistance levels around 90 million as a significant benchmark. The growing interest in Solana’s ecosystem may also lead to increased volatility, making it essential for traders to monitor not only price movements but also broader market sentiment.#Write2Earn #sol $SOL
#BTC Bitcoin faces 2022 parallels as federal reserve resumes rate hikes
The Federal Reserve raised interest rates by 25 basis points on Wednesday, taking its benchmark range to 3.75% to 4.00% in its first increase in more than three years. Markets are pricing in a further 75 basis points of tightening over the next six months.
History suggests a single hike could be unlikely. Since 1994, the Fed has gone “one and done” just once, with single increases also a rarity across the 12 tightening cycles since 1955.
For bitcoin, the historical playbook is considerably small. bitcoin traded through the cycle that began in 2015, but thinner liquidity and a less developed market make comparisons less reliable. The 2022 tightening cycle offers the fairest comparison involving a more mature market structure.
Synergies with 2022 have already taken place. Bitcoin peaked around $69,000 in November 2021 and was down roughly 40% when the Fed first raised rates in March 2022. Today, it sits around 40% below its October high of $126,000.
Following the initial March 2022 hike, bitcoin rallied roughly 18% over the following 12 days before subsequently falling around 50%. That raises the possibility that another relief rally could give way to a prolonged bear market. However, one comparable cycle offers limited evidence, and bitcoin’s decline in 2022 coincided with losses across equities, bonds and metals, alongside turmoil within the crypto industry.
The reasons the Fed hiked rates on Wednesday was due to inflation, annual headline inflation has remained above 2% for over five years, although core inflation, which excludes food and energy, has eased to 2.4%, its lowest level in five years. So progress is being made.#Write2Earn #BTC走势分析 #BTC☀ #Write2Earn! $BTC
#zec Zcash Wants to Burn Fees and Recycle Them Into Miner Rewards
The Network Sustainability Mechanism (NSM) proposal is progressing on the Zcash network. It is an upgrade that removes some $ZEC from circulation through fees, then recycles that value into future miner rewards. If passed, the protocol will detach from the traditional burning exercise that permanently removes digital tokens from crypto networks and repurpose them.
NSM Core Proposal Explained NSM is a core proposal that defines the deployment of Zcash’s NU7 upgrade. It is already gaining support for critical reasons, including resolving the network’s “security budget” crisis. Routing 60% of transaction fees into a secondary protocol reserve would help developers establish a permanent pool of capital and sustain block subsidies, decoupling security from volatile daily fee markets.
The new upgrade will create a competitive differentiator for $ZEC , the Zcash native digital asset, by strategically signalling to investors about Zcash’s uniqueness as an asset built for multi-decade durability. The proposal will also prepare the network for a potential shift to a Proof-of-Stake (PoS) consensus algorithm, and satisfy the community without diluting the token supply.
A Strategy for Recycling Value Zcash’s NSM proposal addresses the long-term decline of block subsidies through multiple strategies, including recycling value rather than destroying it, preventing hashrate shocks via issuance smoothing, and decoupling security from volatile free markets. The proposal would tackle this by storing 60% of incoming fees during high traffic and smoothly paying out the stored capital to validators during multi-year bear markets.
Despite the various protocol alterations associated with the NSM proposal, Zcash’s maximum hard cap of 21 million ZEC remains unaltered. The protocol will never mint new coins beyond that limit. The NSM functions by pulling existing, already-minted ZEC out of active market circulation and placing them into a reserve pool. #Write2Earn #zcash $ZEC
#zcash Zcash boosts privacy with $80K Ledger push – What it means for ZEC
Zcash’s [$ZEC ] privacy system has gained a major security boost, as Zcash Labs commits $80,000 to help Ledger integrate Ironwood into their products.
This allows users to store their own Zcash with Ironwood, which means that private storage is going to become even more user-friendly as the network transitions from Orchard. While this may provide a smoother transition and make it easier for the remaining migration, it will also depend on whether users have enough reason to migrate. If so, then the implementation needs to be smooth and seamless among all of the supported hardware.
The agreement strengthens access, but its impact depends on actual migration and usage.
Orchard migration nears completion The security upgrade will increase with users’ migration from current versions of Zcash to Ironwood. Orchard’s flaw showed how a hidden issue could threaten the privacy coin’s supply while completely concealing itself from users.
Ironwood takes a different approach by checking its core rules more thoroughly before relying on them. Researchers have formally checked more than 2,700 theorems, covering key parts of how balances are protected.
As a result, users now have greater assurance that the new pool cannot generate additional $ZEC via the same type of flaw. However, these verifications cannot eliminate the risks associated with other areas of the network.
Still, stronger verification could improve confidence in Ironwood as more users migrate and hold zec privately. Final Summary Zcash Labs is funding Ledger integration with $80,000 as 88.5% of Orchard funds migrate. Ironwood now holds 3.95 million $ZEC as shielded activity approaches half of daily transactions.#Write2Earn #zec $ZEC
#BTC US lawmakers advance bill to lock Trump’s Bitcoin reserve into law
US lawmakers took a step on Wednesday to put US President Donald Trump’s executive order to establish a strategic Bitcoin reserve into law.
The American Reserve Modernization Act of 2026 (H.R. 8957) passed the US House Committee on Financial Services in a 28-21 vote. The bill would establish a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Department of the Treasury for federally held Bitcoin and other digital assets acquired through criminal or civil forfeiture.
“We cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody,” said US Representative Nicholas Begich, who introduced the bill on May 21. “It poses unacceptable cybersecurity risks and fails to give an adequate accounting of what the federal government actually owns.”
The move brings Washington closer to making Bitcoin a lasting part of the federal government’s reserves.
Related: CLARITY Act vote meets Fed rate hike: Five things to know in Bitcoin this week
The US government is estimated to hold 324,527 Bitcoin, worth $24.7 billion at the time of writing, according to Arkham Intelligence.
Under ARMA, Bitcoin in the federal government’s reserve would have to be held for a minimum of 20 years.
The legislation requires all federal agencies to provide a full accounting of digital assets currently held or controlled by the federal government and establishes transparency measures, including quarterly “proof of reserve” reports and third-party audits.
It would also direct a study of budget-neutral acquisition strategies for expanding the Strategic Bitcoin Reserve and allow states to store their Bitcoin in the Federal Reserve.
The bill also affirms private ownership and self-custody rights of Bitcoin, describing the control of private keys as “fundamental to the principles of financial sovereignty, privacy, and personal liberty in the digital age.”#Write2Earn $BTC
#BTC Ledger CTO Warns Bitcoin Quantum Migration Could Take Years as SHRINCS Emerges
Ledger CTO Charles Guillemet published a technical analysis on September 16, 2026, evaluating the SHRINCS post-quantum signature proposal. The SHRINCS draft specifies signature sizes ranging from 548 to 5,777 bytes, compared to the 64 to 72 bytes seen in current ECDSA and Schnorr schemes. The proposal combines stateful signatures using Flexible XMSS and WOTS+C with a stateless fallback mechanism backed by SHA-256. Charles Guillemet, Chief Technology Officer at Ledger, warned that the Bitcoin quantum migration is not an immediate hardware threat, but rather a protracted technical coordination challenge that could take years. The statement was issued this Wednesday, September 16, following an evaluation of the SHRINCS improvement proposal.
Through a technical publication, Guillemet noted that the current custody framework relies on digital signatures that would be compromised by a cryptographically relevant quantum computer. A source reported that the specialist argued waiting for such hardware to emerge would represent an operational risk, given the extensive timeline required for research, testing, and network-wide deployment.
The evaluated framework, designated as SHRINCS, is a draft Bitcoin Improvement Proposal (BIP) authored by Conduition, Ethan Heilman, Mikhail Kudinov, Oleksandr Kurbatov, Jonas Nick, and remix7531.
The architecture relies exclusively on hash functions based on SHA-256, the network’s native algorithm. According to Guillemet’s analysis, this design avoids introducing additional hardness assumptions—such as lattice-based cryptography—and targets Category 1 security under the National Institute of Standards and Technology (NIST) standards.
The draft’s technical specifications establish a 48-byte public key. In contrast to Bitcoin’s current space efficiency, stateful signatures range between 548 and 4,619 bytes, while the stateless fallback signature reaches 5,777 bytes.#Write2Earn $BTC
#BTC Crypto Long & Short: Six signs a crypto winter is ending
Happy Wednesday,
This is your institutional newsletter, Crypto Long & Short. This week:
Six indicators have marked the end of past crypto winters. Denny Galindo of Morgan Stanley Wealth Management checks how many are flashing now. Top headlines institutions should pay attention to by Helene Braun “Pump.fun Custom Pools: Meme-Stock Bet Meets Muted Volume” in Chart of the Week Thanks for joining us!
- Kim Klemballa
Signs of Spring by Denny Galindo, CFA, executive director, Global Investment Office, Morgan Stanley Wealth Management
Digital assets have, from our limited historical observations, typically followed a four-year cycle. Each of the four completed cycles has included a three-year bull market followed by a 12- to 14-month bear market, often dubbed crypto winter. It’s unclear why this cycle persists, but there are reasonable top-down and bottom-up explanations. Fortunately, we do not need to know which cause of the cycle is the most important. Our framework for understanding the four-year cycle features four “seasons” of cryptocurrency. The current crypto winter has largely followed the historical pattern, but our focus has recently shifted to the next season.
Historically, in limited observations, “crypto spring” has begun quietly, with prices stabilizing while public interest remains subdued. Several indicators that have historically marked the transition from crypto winter to crypto spring appear present today. These observations are not predictions, and these may prove false or premature signals, but each sign is worth monitoring in the months ahead.
1) Cycle length: Spring has historically begun 17 months before the supply halving or 12 to 14 months from the prior peak. September is 17 months before the next halving and 11 months from the prior peak.
2) Exchange and institutional stress: Major exchanges have failed or closed just before crypto spring begins. BitMEX announced in July that it would close in September. #Write2Earn $BTC