Из жизни альткоинов

Helius Labs CEO Mert Mumtaz ignited a fresh round of debate inside the Solana ecosystem on September 10 after floating the idea of a Solana-aligned stablecoin whose reserve yield would be redirected to SOL via buybacks or burns—either as an “enshrined” protocol feature or, more likely, through competing digital-asset treasury companies (DATs). “Warming up to the idea that Solana should enshrine a stablecoin,” he wrote, adding that “50% burn of the yield goes back to burning SOL.” Hours later, he reframed the thrust: “it shouldn’t be enshrined, a DAT should do it… fix it and trillions.”

Why A Solana Stablecoin Is A No-Brainer

Mumtaz’s core critique targets what he describes as “yield leakage” from Solana: “Stablecoins are commodities, and currently on Solana, there is one that captures all yield and literally funds Solana’s biggest competitor with it!” He argued that, under the US GENIUS Act, stables are readily swappable and issuers will fight aggressively for market share—citing the recent “Bachelor-style” scramble among large stablecoin companies to court business. “If you don’t want to enshrine a Solana-centric stable, then consider digital asset treasury companies (DATs)… The DAT is literally a machine for buying the underlying token.”

That framing collides with the letter of the new US law. The GENIUS Act, signed in July, carves out “payment stablecoins” as neither securities nor commodities for US federal purposes, consolidating oversight largely under banking regulators and expressly separating them from SEC/CFTC jurisdiction. Multiple legal analyses and a Congressional Research Service note affirm the statute’s classification.

In short: Mumtaz’s “commodity” phrasing is rhetorical, not legal. Still, the law’s most consequential economic detail—stablecoins cannot pass interest to holders—means issuers (or affiliated structures) capture the reserve income and can decide how to use it. That’s precisely the lever Mumtaz wants pointed back at Solana.

Within hours, one builder publicly accepted the challenge. “We (@KASTcard) will put 101–103% of all interest income from USDK on Solana, to buyback SOL,” wrote CEO and co-founder of KAST, adding that the buybacks would sit with a foundation that issues a token after a planned TGE and that USDK would be issued with the m^0 foundation as a U.S. “Genius compliant” stable. The 1–3% kicker above 100% would be treated as marketing spend. KAST and m^0 have previously disclosed plans to launch programmable, application-specific dollars on the networl; KAST’s consumer app and card already target global stablecoin payments.

The proposal’s mechanics are straightforward in concept. A native USD stablecoin accrues reserve yield (e.g., from T-bills) at the issuer level; a DAT structure then commits that income stream to buy SOL on the open market and either retire it or recycle it into ecosystem programs.

Mumtaz even sketched a toy model—“Assume a Solana DAT runs a Solana stable, call it USDmanlet… [it] earns yield. The DAT takes all the yield and buys SOL with it… embed it in the ecosystem and take the yield and pump it back… or into burning SOL.”

Stablecoin Wars Reach Solana

Mumtaz’s “funding the competitor” barb is aimed squarely at USDC’s economics and Coinbase’s Base L2. Coinbase and Circle split USDC reserve income, a line item that has grown into a major revenue stream for Coinbase as stablecoin supply has rebounded; Coinbase incubated Base, an Ethereum Layer-2 that has quickly become a high-throughput venue for on-chain activity.

None of that is nefarious—USDC’s terms are clear—but for Solana purists it is strategically suboptimal to let billions in Solana-settled stablecoin activity originate issuer profits that are then reinvested in a rival’s stack. That is the “simple problem” Mumtaz says he wants to fix, whether by enshrining or (more plausibly) by market-driven competition among issuers and DATs.

Multicoin Capital co-founder and managing partner Tushar Jain agreed via X: “One of the best things about Solana’s culture is adopting good ideas from other ecosystems. Hyperliquid’s idea to encourage stablecoin issuers to buy HYPE with USDH interest is a powerful way to drive REV. Why should Circle keep all of the interest revenue from USDC on Solana?”

For now, this is only a proposal—there is no SIP or governance vote to “enshrine” anything at the protocol layer, and Mumtaz himself emphasized the market-driven DAT route. Whether the proposal takes the form of competing issuers pledging buybacks, a canonical “ecosystem stable,” or a more modular treasury program, the endgame Mumtaz sketched is unambiguous: stop leaking yield, and point it at SOL.

At press time, SOL traded at $228.

After weeks of anticipation and setbacks, the Shiba Inu development team has officially confirmed that the long-awaited migration from LEASH v1 to LEASH v2 is ready to begin. The delay stemmed from the need to address flaws in the original LEASH token contract and to complete a thorough security audit. Now that these hurdles are cleared, developers say the transition to LEASH v2 is set to commence in the coming days.

Shiba Inu Team Confirms Migration

According to a recent blog post by the Shiba Inu team, the security audit of the LEASH v2 contract and its migration mechanism has been completed by Hexens, which has now cleared the way for the long-delayed rollout. 

The developers explained that they engaged Hexens to perform a full, independent audit of the integrated system, covering the LEASH v2 token, the migrator, and all associated flows. Now that the security firm Hexens has cleared the audit, the migration is expected to begin anytime soon. 

Hexens is a Web3-focused cybersecurity firm known for smart-contract and protocol audits. Its track record spans Ethereum, Solana, Cosmos, and BNB Chain, where the firm’s audits have protected significant on-chain value. 

As the migration begins, developers warned LEASH v1 holders should use only official links published on Shib.io and verified Shiba Inu social channels to avoid falling prey to scams. Once the migration window closes, any unused LEASH v2 tokens in the multisig wallet will be burned to enforce a hard-capped supply.

How The Migration Will Work

Now that all the security boxes have been ticked, the migration from LEASH v1 to LEASH v2 is expected to commence anytime in the coming days. The migration will occur in carefully planned phases to ensure fairness across different types of holders. 

In the first phase, direct LEASH v1 holders as well as those with staked or locked tokens will be able to migrate by burning or locking their v1 tokens to receive v2 equivalents at a ratio based on the current v1 supply. Liquidity providers on Uniswap V2 and ShibaSwap V1 are also included in this stage. 

Phase Two will handle the more complex Uniswap V3 and ShibaSwap V2 LPs, which require snapshots and proof-of-withdrawal mechanisms to prevent trapped value. Lastly, Phase Three will cover bridge users and those holding LEASH on Shibarium for a 1:1 swap of these tokens.

The LEASH v1 contract was originally promoted as a fixed-supply token, but a hidden vulnerability meant that rebasing mechanisms could still alter the supply through authorized proxies. This vulnerability was exploited earlier this year and this led to an unplanned 20% increase in supply. 

To restore trust and safeguard holders, developers opted to create LEASH v2. According to developers, the upgrade removes any minting or rebasing loopholes, as the entire v2 supply is pre-minted and secured in a multisignature wallet.

At the time of writing, LEASH is trading at $24.94, down by 3.22% in the past 24 hours.

The long-anticipated “altseason” may finally be here. This week, altcoin market indicators surged to their highest levels since December 2024, fueling speculation that the biggest altcoin rally in years is about to begin.

According to Blockchain Center’s Altcoin Season Index, a reading of 78 out of 100 confirms altseason conditions, when 76% of the top 50 crypto assets outperform Bitcoin over a 90-day period. CoinGlass and CoinMarketCap show similar results, with readings of 76 and 67, respectively.

Market sentiment has shifted swiftly, with altcoins stealing momentum from Bitcoin, which has recently consolidated around $114,000. The altcoin market cap, excluding Bitcoin and stablecoins, now stands at $1.63 trillion, just shy of the $1.64 trillion peak seen in late 2024.

Is the Altseason a Sign of a Major Breakout

Crypto traders are increasingly convinced that the market is on the cusp of a new wave of parabolic growth. Analyst “Daan Crypto Trades” noted that the altcoin cap is approaching price discovery territory, which historically sparks sharp rallies.

“With the altseason index at its strongest reading in nine months, traders are beginning to lean risk-on again,” said educator Karan Singh Arora. Other traders, including Ash Crypto, suggest altcoins could soon enter “phase 3” of altseason, a stage often marked by explosive price gains across mid- and small-cap tokens.

This optimism is further supported by speculation around U.S. Federal Reserve policy. With prediction markets now pricing in the likelihood of a 50-basis-point rate cut at the September 17 meeting, liquidity conditions may shift in favor of risk assets, such as crypto.

Historically, lower interest rates have triggered capital inflows into altcoins following Bitcoin’s initial gains.

Altcoins Already on the Move

Several major altcoins are already flashing strong signals. Dogecoin (DOGE) has climbed above $0.25 with a 5% daily gain, while Avalanche (AVAX) jumped nearly 18% to hit $29, its highest level since January.

Other notable movers include Hyperliquid (HYPE), Stellar (XLM), Litecoin (LTC), and Toncoin (TON), each posting gains above 3% in the past 24 hours. If momentum continues, traders believe the market could replicate, and even surpass, the explosive altseason seen in late 2021.

With the altseason index surging and the Fed’s decision looming, all eyes are now on whether 2025 will deliver the most powerful altcoin rally since 2024.

Cover image from ChatGPT, ETHUSD chart from Tradingview

Ripple’s role in global finance is drawing new attention after Versan Aljarrah of Black Swan Capitalist revealed that central banks in BRICS nations have been building on the XRP Ledger. The findings suggest that the ledger is not an afterthought but a serious option in the bloc’s plans for cross-border payments. 

BRICS Central Banks Quietly Build On XRP Ledger

Versan Aljarrah says that the central banks of BRICS, along with the New Development Bank, have already been working with the XRP Ledger. According to him, the records show clear evidence that this work has been ongoing quietly for years. The archived papers he cites do more than just mention Ripple. They note that BRICS reports point to escrow and automation on the XRPL as tools that can handle the bloc’s cross-border payment needs by making transactions easier, quicker, and more secure.

With Ripples escrow, the system locks payments and then releases them automatically, while its automation tools streamlines the process, reducing the cost and time of transactions. These systems align directly with the vision of the BRICS nations to build a financial structure that operates independently and does not rely heavily on the U.S. dollar for clearing and settlement.

Aljarrah explains that the consistent references in official BRICS materials point to a pattern of deliberate engagement.​​ The bloc has spent years checking how XRPL can fit into its long-term financial system. By highlighting that the groundwork dates back years, Aljarrah draws attention to the quiet yet steady progress that has taken place in the background.

Evidence Suggests A Coordinated Digital Infrastructure Strategy

Versan Aljarrah also stresses that attention to the XRP Ledger has been consistent across several years of BRICS meetings, research papers, and economic forums. Repeated mentions of XRPL in policy papers suggest a coordinated and ongoing strategy, rather than a one-off experiment.

The evidence does not stop with research. Brazil’s central bank has published papers that name Ripple in its tests of distributed ledger systems. In the private sector, projects in Brazil are already using XRPL for tokenization and financing. The mix of research, pilot testing, and adoption indicates that BRICS is not standing by, but is actively exploring Ripple’s technology.

Aljarrah explains that this does not mean entire national systems have moved onto the public ledger. The evidence instead points to preparation. BRICS central banks are examining the strengths of the XRP Ledger, conducting pilots, and assessing its compatibility with their existing financial frameworks. 

As Aljarrah points out, this effort has been underway for years, even though the final move to large-scale adoption remains ahead. The big question now is whether the BRICS nations will take the next bold step and integrate the XRP Ledger into their core financial systems.

Crypto analyst Egrag Crypto has alluded to an event that could warrant investors having to offload their XRP holdings. The analyst described this potential event as a sign and urged investors to sell everything if it ever happens. 

Analyst Advises XRP Holders To Sell If This Happens

In an X post, Egrag Crypto said that XRP holders should sell all their coins if Congress eventually passes the bill to stop Congress members from trading stocks. The analyst suggested that the passage of this bill could lead to a significant downtrend for the altcoin and other crypto assets, which is why he believes investors should sell everything.  

Egrag Crypto’s statement came in reference to Congresswoman Anna Luna’s speech in which she unveiled the legislation to ban stock trading among members of Congress. She had also noted that U.S. President Donald Trump was in support of this bill to ban lawmakers from trading stocks. 

However, the analyst didn’t provide further details as to why the passage of this bill could affect crypto and why investors should move to sell their XRP if the bill is passed. Egrag Crypto may expect that Congress may also make a similar move to ban lawmakers from trading crypto, which he believes could be bearish. 

Meanwhile, it is worth noting that Democratic lawmakers are already pushing to ban the president, vice president, and Congress members from getting involved in XRP and other cryptocurrencies. Although no bill has made it to the floor of the House, there is the probability that such a bill could limit President Trump from advocating for the crypto industry, especially if he is forced to limit his family’s involvement in crypto. 

XRP At A Pivotal Moment

Amid his warning, Egrag Crypto has also provided an update on the current XRP price action. In an X post, he stated that the altcoin is at a pivotal moment where it could either break to the upside or downside.  He then highlighted a symmetrical triangle, which presents both a 50% chance of upward breakout or downward breakout.

Egrag Crypto said that he is leaning towards a breakout to the upside, although he won’t be certain until the XRP price closes above the 21 SMA and exactly above $3.077 and $3.13. He noted that this is his confirmation for a full-body candle closure on the 3-day timeframe.

The crypto analyst further predicted that XRP might retest the breakout around $3.03, and that a close above $3.30 would send the altcoin towards a new all-time high (ATH). He revealed that he would start offloading his holdings when this new ATH happens, indicating that the top may be near when that happens. 

At the time of writing, the XRP price is trading at around $2.98, up in the last 24 hours, according to data from CoinMarketCap.

Ethereum continues to show remarkable resilience, with demand leaving its mark even as price action remains sideways. ETH has been consolidating in a narrow range, mirroring the broader market where Bitcoin trades cautiously and altcoins display selective strength. Yet behind the scenes, institutional interest in Ethereum is quietly building, setting the stage for what could be the next major move.

According to fresh data from Lookonchain, SharpLink recently transferred $379 million USDC to Galaxy Digital, capital that may be allocated toward purchasing more ETH. This transfer underscores a growing trend: institutional players are not shying away from Ethereum, even amid volatility and macroeconomic uncertainty. Instead, they are positioning themselves for what could be a decisive breakout once the current consolidation phase resolves.

SharpLink Gaming is among the first Nasdaq-listed companies to design a treasury strategy centered on ETH, marking a significant milestone in corporate adoption. By treating Ethereum as a strategic reserve asset, it reinforces the idea that ETH’s role extends well beyond speculative trading into long-term institutional portfolios.

Related Reading: Bitcoin Mining Difficulty Keeps Rising Despite Price Volatility – Details

With consolidation tightening and institutional inflows accelerating, the coming weeks may prove critical. Many investors expect a massive surge for Ethereum once the current sideways structure breaks, potentially marking the start of its next major rally.

SharpLink Expands Ethereum Treasury

SharpLink has officially announced that its total Ethereum holdings climbed to 837,200 ETH as of August 31, 2025, solidifying its role as one of the largest corporate holders of the asset. The company continues to pursue its ETH-focused treasury strategy aggressively, with notable activity reported in the week ending August 31.

During that week, SharpLink purchased an additional 39,008 ETH, bringing its cumulative balance to new heights. These acquisitions were financed through $46.6 million in net proceeds raised via the company’s at-the-market (ATM) facility, demonstrating its ongoing ability to secure fresh capital for strategic allocations. Importantly, the average purchase price for the week’s ETH acquisitions stood at $4,531, reflecting the company’s confidence in buying at elevated levels as Ethereum consolidates near all-time highs.

This accumulation has elevated SharpLink to the position of the second-largest ETH treasury holding company, trailing only BitMine. BitMine currently holds more than 2 million ETH, valued at approximately $9.2 billion. Together, these treasury allocations highlight how major institutions are increasingly adopting Ethereum not only as a speculative asset but also as a long-term strategic reserve.

By expanding its ETH holdings so aggressively, SharpLink is sending a clear signal to the market: Ethereum’s role in corporate treasuries is no longer theoretical. As adoption grows, such moves could prove pivotal in reinforcing ETH’s status as a core asset in the global digital economy.

ETH Analysis: Trading Sideways

Ethereum is trading at $4,436, showing a 2% daily gain as the price begins to emerge from a prolonged consolidation phase. The 12-hour chart highlights that ETH has been moving sideways for much of September, holding firmly above $4,200 support. Now, momentum appears to be picking up as the price tests resistance around $4,450.

The 50 SMA at $4,407 is now acting as immediate support, while the 100 SMA at $4,182 provides a stronger cushion below. The 200 SMA, sitting at $3,460, remains well beneath the current range, confirming that ETH’s broader bullish structure is intact. As long as Ethereum maintains levels above $4,200, the technical setup favors continuation to the upside.

For bulls, the next critical test lies in reclaiming $4,600, a level that has repeatedly capped rallies in recent weeks. A decisive breakout above this resistance would set the stage for ETH to retest the $4,800–$5,000 zone, potentially marking the start of a stronger bullish leg.

Featured image from Dall-E, chart from TradingView

Over the course of its existence, Bitcoin, the crypto king, has transitioned from a mere asset to what many consider the digital version of Gold. During the period, many prominent figures and institutions have continuously demonstrated their trust in the asset as digital gold by their massive adoption of the coin.

Prosperity Linked To Bitcoin Adoption

As Bitcoin’s digital gold status strengthens, Michael Saylor, one of Bitcoin’s most vocal advocates and executive chairman of Strategy, has dropped a bombshell on BTC in a recent interview on CNBC. The executive chairman has once again declared BTC as an asset that drives prosperity and freedom.

Related Reading: “Buy More Bitcoin Before It’s Too Late,” Michael Saylor Tells The US Government

In the interview, Saylor maintained that for individuals, businesses, and even governments hoping to prosper in the digital era, adopting the assets is not just an investment choice but also a strategic necessity. It is worth noting that Bitcoin adoption has significantly picked up pace in the crypto and financial sector.

Sharing insights on the aftermath of the development, Saylor stated that when players accumulate a lot of BTC, these coins will be burned after they leave. As a result, a Pro Rata is created, which contributes to members of the community, especially those who own BTC around the globe, based on their contribution and knowledge.

Presently, Bitcoin is gaining strong support in the financial landscape. According to the chairman, this backing of BTC, which he believes is a great thing to do, is nothing less than a “protocol for prosperity.” By portraying BTC as a basis for financial expansion and stability, the chairman keeps up the argument that its adoption will shape the future economic environment.

Saylor’s latest remark on Bitcoin is a testament to his unwavering support for the crypto, as evidenced by the massive accumulation of BTC by his company Strategy. With Saylor as chairman, the firm has made history in BTC exposure, becoming the largest institutional holder of the digital asset.

Over time, Strategy has made significant success with BTC, with many other big companies now following in its footsteps. Despite this notable success, Saylor is more concerned about the move to help BTC gain more mainstream attention. “I hope I’m known for having taken the torch from Satoshi and going on to commercialize Bitcoin with corporations and governments decades after he passed,” he stated.

BTC’s Price To $200,000 By Year End

With Bitcoin adoption growing sharply, Tom Lee, Fundstrat Global Advisors’ head of research, has made a bold BTC prediction for the rest of the year. Lee is confident that by the end of the year, the flagship asset will surge to a $200,000 value.

Related Reading: Bitcoin Is Replacing Gold And Heading For A Million-Dollar Valuation, Tom Lee Declares

According to Lee, BTC has stalled recently because the Fed has been on pause for 9 months. However, the head of research believes that Bitcoin will pick up its pace after the rate cuts on September 17. He points to the event as a major catalyst to spur this move to $200,000, and also the fact that Q4 has historically been a bullish period for BTC and cryptocurrency.

Ripple, a blockchain-based digital payment company, has unveiled a new agreement with Spanish banking leader BBVA. The new partnership will give BBVA access to Ripple’s technology as the Spanish bank launches a service that allows retail clients to buy, hold, and store cryptocurrencies. At the same time, the move will strengthen Ripple’s foothold in Spain, paving the way for broader adoption. 

Ripple To Expand Into Spain Through BBVA Deal

Ripple has officially announced a new alliance with BBVA, marking a major step in its expansion into the European financial markets. The agreement, revealed in a formal press release on September 9, 2025, will see BBVA integrate Ripple’s institutional-grade digital asset custody technology into its operations. 

This move comes as the Spanish bank rolls out a crypto-asset trading and custody service for retail customers in Spain, giving them direct access to blue-chip digital assets such as Bitcoin and Ethereum. The collaboration positions Ripple as a key provider of secure and compliant infrastructure for one of Europe’s most customer-focused banks. 

By using Ripple Custody, BBVA gains the ability to deliver a scalable custody service tailored to tokenized assets, ranging from mainstream cryptocurrencies to future tokenized financial products. Ripple Custody is designed to meet stringent security, operational, and regulatory demands, enabling banks to confidently offer crypto access to their customers while ensuring full compliance with the European Union’s Markets in Crypto-Assets (MiCA) laws. 

The Managing Director of Ripple for Europe, Cassie Craddock, emphasized that MiCA has created a favorable environment for traditional financial institutions to launch digital asset services. She further noted that BBVA, known for its forward-thinking approach, is leveraging Ripple’s trusted technology to meet rising demand from its customer base. For Ripple, this partnership is a strategic entry into Spain and a continuation of its mission to bridge traditional banking and blockchain-based services across Europe. 

BBVA Digital Asset Strategy Strengthens

BBVA’s adoption of Ripple’s custody solution reflects the Spanish bank’s broader strategy of embracing digital innovation. According to Francisco Maroto, BBVA’s Head of Digital Assets, the new crypto service launched in Spain builds on earlier initiatives in Switzerland and Turkey, where the bank also introduced blockchain-driven offerings. 

By relying on Ripple’s technology, the Spanish bank can directly deliver an end-to-end custody service, maintaining complete control over client assets while ensuring the highest security and efficiency standards. The deal also deepens the existing collaboration between the digital asset company and the BBVA Group. Ripple already provides custody support for Garanto BBVA in Turkey and BBVA Switzerland, demonstrating that the relationship between the two companies is already well-established and evolving into new regional expansions. 

Ripple’s role as a long-term infrastructure provider is further underscored by its strong regulatory standing. With over 10 years of experience in the digital asset industry and more than 60 regulatory licenses and registrations across multiple jurisdictions, the crypto payments company has built the credibility and expertise needed to support major banks like BBVA.